Mortgage -- Trouble during payment process -- Complaint #14082892
Complaint Overview
Complaint ID: 14082892
Company: Sofi Technologies, INC.
Product: Mortgage
Sub-Product: Conventional home mortgage
Issue: Trouble during payment process
Sub-Issue: Private mortgage insurance (PMI)
State: Texas
ZIP Code: 78717
Date Received: 2025-06-14T12:00:00-05:00
Date Sent to Company: 2025-06-14T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I have messaged SoFi repeatedly through their secure site and made multiple calls. I finally sent the following demand letter via certified mail, and they responded shortly thereafter on XX/XX/year>. Their response is that my equity must be 30 % or more without providing any documentation supporting that position. Furthermore, the attached image clearly shows that my PMI will be cancelled when I have 20 % equity in the home. -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- - I am writing to formally demand the removal of Property Mortgage Insurance ( PMI ) from my mortgage ( loan numbeXXXX XXXX ), as I have reached the requisite equity threshold outlined in my original agreement with SoFi. Despite my repeated and good-faith efforts to resolve this matter through secure messages, multiple phone calls, and a previous written letter, SoFi has continued to refute my position without providing any substantive evidence in support of its own. Specifically, I have requestedand not receivedany documentation showing that a 30 % equity requirement is contractually valid or enforceable in my case. On the contrary, SoFis own publicly available website and visual materials in my account portal explicitly state that PMI is removed once a borrower reaches 20 % equity ( see image at the end of this letter for my personalized view ). I have met this threshold, and there has been no indicationeither at the time of agreement or sincethat a 30 % equity condition applies to my mortgage. To date, SoFi has failed to : Provide evidence of a 30 % equity requirement Acknowledge or respond substantively to the agreement terms that I have referenced Resolve this matter in accordance with the stated terms and advertised policies Accordingly, I am requesting that SoFi immediately remove PMI from my mortgage, as I have satisfied the 20 % equity requirement under the terms originally agreed upon. Please be advised that should this matter not be resolved promptly, my next communication will come through legal counsel. I reserve all rights and remedies available to me under applicable state and federal law.
Frequently Asked Questions
What is Complaint #14082892 about?
Complaint #14082892 was filed against Sofi Technologies, INC. regarding Mortgage specifically about Trouble during payment process. It was received by the CFPB on 2025-06-14T12:00:00-05:00.
How did Sofi Technologies, INC. respond to this complaint?
The company responded with: "Closed with explanation". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Mortgage) and describe your issue in detail.
Can I see other complaints against Sofi Technologies, INC.?
Yes, visit the Sofi Technologies, INC. company profile at readthecomplaint.com/company/sofi-technologies-inc to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.