Mortgage -- Closing on a mortgage -- Complaint #5633551
Complaint Overview
Complaint ID: 5633551
Company: Truist Financial Corporation
Product: Mortgage
Sub-Product: Conventional home mortgage
Issue: Closing on a mortgage
State: Kentucky
ZIP Code: 400XX
Date Received: 2022-06-04T12:00:00-05:00
Date Sent to Company: 2022-06-04T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
Truist Bank refuses to remove the PMI on my conventional home loan. I have followed their directions, and they returned my {$150.00} check. According to XXXX XXXX ( the servicer of my loan ), my current LTV is under 60 %. All conventional loans should have PMI removed if the payment history is perfect and the Loan to value is below 78 %. Truist Bank wants a list of " improvements that are substantial in value '' without any definition of what they consider substantial. This is a subjective term that was never presented during my loan terms, and closing documents of my original loan. I sent my check for " XXXX '' of {$150.00} on XX/XX/2022. I just opened the mail today coming back from a vacation to see that returned my check and refuse to consider dropping my PMI.
Frequently Asked Questions
What is Complaint #5633551 about?
Complaint #5633551 was filed against Truist Financial Corporation regarding Mortgage specifically about Closing on a mortgage. It was received by the CFPB on 2022-06-04T12:00:00-05:00.
How did Truist Financial Corporation 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 Truist Financial Corporation?
Yes, visit the Truist Financial Corporation company profile at readthecomplaint.com/company/truist-financial-corporation 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.