Mortgage -- Applying for a mortgage or refinancing an existing mortgage -- Complaint #4762820
Complaint Overview
Complaint ID: 4762820
Company: Pentagon Federal Credit Union
Product: Mortgage
Sub-Product: Conventional home mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage
State: Florida
ZIP Code: 33032
Date Received: 2021-09-28T12:00:00-05:00
Date Sent to Company: 2021-10-20T12:00:00-05:00
Company Response: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Tags: Servicemember
Consumer Narrative
I hereby formally request an appeal to XXXX XXXX, My current Mortgage lender, about the decision to not granted the removal of the PMI from my Loan Mortgage and reconsider approve the removal of the PMI from my Loan Mortgage based on the following factors : 1. The original loan amount of the Mortgage was {$390000.00} 2. The current balance of my loan as of today XXXX XX/XX/XXXX is {$380000.00} 3. The appraisal made to my property on XXXX XXXX by XXXX XXXX at my request was estimated at {$480000.00}. 4. Putting the current value of my home in perspective with my current loan balance results in an increase of 21 % = {$98000.00} of equity build on my property, which makes my Mortgage loan qualify for the PMI removal currently imposed on my loan. The Federal Homeowners Protection Act gives Homeowners the right to remove PMI from your home loan in two ways. you can request the removal of PMI when you reach 80 percent home equity ( which is my exactly my case, or You can get automatic or final PMI termination at specific home equity milestones. 5. Another two point in my favor is that my mortgage payments are made on time automatically, taking the payments from my checking account at the P.F.C.U. It is my intention to keep it that way during the life of the loan. 6. Finally, another point of great importance that is worth highlighting is my job stability and service record of 32 years civil services as a federal employee working for the Department of the Defense and with an impeccable record of credit history of 32 years without reflecting any late payment. Pentagon Federal Credit Union is the financial institution that currently servicing my loan, I sent numerous email to them ( PMI Mortgage Department ), asking them via email need to speak with a Loan Manager and they never pass me to no ones. All the communication from XX/XX/XXXX until now has been via email ). They said that they speak with the consumer. In the hope that the information provided will help you reconsider your decision to now approve the removal of the PMI from my current Loan Mortgage. I remain with you very kindly, Mr. XXXX XXXX XXXX email : XXXX XXXX
Frequently Asked Questions
What is Complaint #4762820 about?
Complaint #4762820 was filed against Pentagon Federal Credit Union regarding Mortgage specifically about Applying for a mortgage or refinancing an existing mortgage. It was received by the CFPB on 2021-09-28T12:00:00-05:00.
How did Pentagon Federal Credit Union respond to this complaint?
The company responded with: "Closed with non-monetary relief". 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 Pentagon Federal Credit Union?
Yes, visit the Pentagon Federal Credit Union company profile at readthecomplaint.com/company/pentagon-federal-credit-union 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.