Consumer complaint received 2024-04-25 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Trouble during payment process — Private mortgage insurance (PMI)
Company: Mr. Cooper Group Inc.
State: UT

Complaint narrative:
I am writing to you today as I have become very frustrated with their appraisal of my home and working with their PMI team. I had originally started this path on XX/XX/XXXX when there were so many issues on the appraisal for my home. They were missing the original value of : XXXX. The half bath on the main floor ( XXXX deduction ) XXXX. The additional bedroom that was in the report. 
XXXX. The value of a backyard as they used only XXXX  to represent the value of my home and not XXXX  homes as I have. 

During this time, homes by my similar builder have sold for {$550000.00} and {$520000.00} that I had sent to the PMI department. 

After not hearing from their company, I reached out again in early XXXX. After having that call with their company, I was told that they had denied my appeal in XXXX. Despite having a letter dated XX/XX/XXXX stating the PMI had been removed. During that call, I spoke with their representatives and they informed me they would look into the matter after I had resent the XXXX comparables showing clearly the value of my home exceeding the {$490000.00} price that they had assigned to my property. The original appraisal from when I purchased the home XXXX years earlier was {$500000.00}. 

A few days later from the XX/XX/XXXX call, I received a call stating that the PMI had been removed from my property and would be noted in my XXXX Payment. In reviewing the XXXX payment, the PMI was again assessed. I promptly called to inform their PMI department that they were in error in charging the PMI fee. To my disappointment, I was informed that they did not have record for the PMI to be removed. After stating that it was removed, they looked at the call from the XXXX of XXXX and did not show that it was resolved and would again investigate further. 

I still to this day do not have an updated appraisal that represents the number of bedrooms and bathrooms per their original appraisal. I also do not have an accurate comparable of my home since the appraiser used a smaller home from an inferior builder with no backyard. I have sent repeatedly sold homes by my builder that reflect the proper value of my home. And to add salt to the wound, my neighbors home sold in 5 days at {$550000.00}. This misrepresentation for my home for a mere {$110.00} a month appears to be negligent. 

I will need to have an updated copy of the Approximation of Value of my home that accurately details the rooms and bathrooms in my home from them that justifies the low value of my home and the repeated requirement for PMI. I am including the XXXX homes that did sell in my neighborhood and the under contract listing of my neighbors home. At this time I am seeking to be reimbursed all the PMIs that have been paid from my original denial in XXXX. It appears that the value you placed on my home at {$490000.00} equated to an LTV of $ XXXX {$490000.00} ( Based upon XX/XX/XXXX statement ) was 75.3 % which was below the 78 % required to terminate. How they can continue to justify that I do not meet the requirements is beyond me and my representation and hope to have this quickly addressed. 

Please call me at XXXX with any questions, but I do expect to have an email/letter addressing : Updated Approximation of Value of my home reflecting correct data. 
Mr. Coopers LTV Calculation from XX/XX/XXXX ( Original Denial ) and Current. 
I have included the original Letters. 

BPO Direct Order # XXXX XXXX XXXX XXXX # XXXX Servicer Loan # XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX, UT XXXX

Company response to consumer: Closed with explanation