Mortgage -- Trouble during payment process -- Complaint #4761196
Complaint Overview
Complaint ID: 4761196
Company: Caliber Home Loans, INC.
Product: Mortgage
Sub-Product: Conventional home mortgage
Issue: Trouble during payment process
State: Pennsylvania
ZIP Code: 19380
Date Received: 2021-09-28T12:00:00-05:00
Date Sent to Company: 2021-09-28T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I was told I could remove mortgage insurance from Caliber Home Loans on my property at XXXX XXXX XXXX, # XXXX, XXXX XXXX XXXX, XXXX XXXX after having met the following criteria : - Your loan to value ratio must not exceed 80 %. - Your loan must have no significant recent delinquency - Occupancy requirements have been met After meeting the above requirements, I applied to remove PMI on XX/XX/XXXX and paid the requested {$150.00} fee. The mortgage company cashed my check on XX/XX/XXXX, then sent me a letter on XX/XX/XXXX stating they were unable to approve my request to remove PMI due to not having paid the {$150.00} fee. I have since been on the phone several times without success in reaching anyone who is able to assist me. Instead I am transferred from one person to the next for over 2 hours on 3 different days and 3 different attempts. My loan to value ratio is well under 80 %. My current remaining balance is {$190000.00}. The most recent similar homes have sold as follows : - XX/XX/XXXX {$450000.00} ; XXXX XXXX XXXX, # XXXX, XXXX XXXX XXXX, XXXX XXXX - XX/XX/XXXX {$360000.00} ; XXXX XXXX XXXX, # XXXX, XXXX XXXX XXXX, XXXX XXXX - XX/XX/XXXX {$280000.00} ; XXXX XXXX XXXX, # XXXX, XXXX XXXX XXXX, XXXX XXXX - XX/XX/XXXX {$290000.00} ; XXXX XXXX XXXX, # XXXX, XXXX XXXX XXXX, XXXX XXXX However, Caliber mortgage company has also listed on my account online : " Currently your LTV is 80.76 % ''. I'm not sure how they came up with this number. There is no data to support it. And they never informed me of this belief in a letter following my request for PMI removal. In addition, the highest LTV I calculate based upon the REAL data is 69.62 %. Given these properties I listed that have sold in the same building as my property, I am not sure how anyone can argue this number. It is also worth noting that I had my loan in forbearance due to the COVID 19 pandemic and was not able to make payments for several months. I have since resumed payments. Mortgage payments missed or underpaid as part of a deferral or forbearance arrangement are not technically delinquencies according to the Coronavirus Relief, and Economic Security Act ( CARES Act ).
Frequently Asked Questions
What is Complaint #4761196 about?
Complaint #4761196 was filed against Caliber Home Loans, INC. regarding Mortgage specifically about Trouble during payment process. It was received by the CFPB on 2021-09-28T12:00:00-05:00.
How did Caliber Home Loans, 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 Caliber Home Loans, INC.?
Yes, visit the Caliber Home Loans, INC. company profile at readthecomplaint.com/company/caliber-home-loans-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.