Mortgage -- Trouble during payment process -- Complaint #5321255
Complaint Overview
Complaint ID: 5321255
Company: Caliber Home Loans, INC.
Product: Mortgage
Sub-Product: Conventional home mortgage
Issue: Trouble during payment process
State: Massachusetts
ZIP Code: 02184
Date Received: 2022-03-14T12:00:00-05:00
Date Sent to Company: 2022-03-14T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I wrote a formal letter on XX/XX/XXXX, requesting that Caliber Home Loans remove private mortgage insurance, as the LTV is now at 73 %. My husband and I have worked diligently to pay down the loan to 78 % LTV since we closed on our new home in XX/XX/XXXX. We originally put 10 % down when we first purchased the home. We were able to make a large sum payment a month after our home purchase of $ 50k to get it down to 80 %. We've continued to paid it diligently and brought it down to 78 % but the PMI still isn't removed. My husband and I have both called in to ask customer service to remove it. Nothing has been done. According to the amortization in my signed closing package it is removed at 77.78 % LTV. The website also says it is automatically removed at a 78 % LTV. I've attached the letter I mailed and also submitted to them online requesting the removal of PMI ( this letter includes a copy of the original signed closing disclosure ). I've also attached our signed closing package with amortization schedule that shows when PMI is removed. I also attached the website print out explaining when PMI is removed. Lastly, I've attached a recent mortgage statement showing what our loan balance is currently showing.
Frequently Asked Questions
What is Complaint #5321255 about?
Complaint #5321255 was filed against Caliber Home Loans, INC. regarding Mortgage specifically about Trouble during payment process. It was received by the CFPB on 2022-03-14T12:00:00-05:00.
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.