Mortgage -- Trouble during payment process -- Complaint #5987224
Complaint Overview
Complaint ID: 5987224
Company: Mr. Cooper Group INC.
Product: Mortgage
Sub-Product: Conventional home mortgage
Issue: Trouble during payment process
State: Georgia
ZIP Code: 30518
Date Received: 2022-09-15T12:00:00-05:00
Date Sent to Company: 2022-09-15T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I purchased my home back in XX/XX/XXXX. Since this time we've seen significant market appreciation and I wanted to look into getting rid of the PMI on my loan. I initiated the process with my mortgage servicer back in XXXX and we completed an appraisal with the vendor of their choosing. The value of the property came back evidencing I did in fact have the 20 % equity in the home and my understanding was the PMI would be dropped. I have spent the last 60 days going rounds with Mr. Cooper as they won't drop the PMI but also can't provide an articulate reason as to why they won't drop it. They needed 15 days to research it initially, then another 30 days to look into it again, finally I called again today and they stated no progress has been made, they're unable to expedite and they're unsure of when someone will have any sort of articulate/intelligent response. I was advised I refused to send an e-mail by my 2nd escalation specialist. I inquired if that meant they did nothing for the past two weeks, no action was confirmed. I wasn't permitted to speak with a supervisor as they have a 2-4 turn time for this process. I've acted long enough in good faith with zero traction. XXXX with the escalations refused to call me back XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX & XX/XX/XXXX. When I was successful in getting another representative they lied and claimed XXXX had left me a voice message yesterday which I have since confirmed is not the case. My understanding was was 20 % equity was reached in property, after evidenced by an appraiser of the mortgage servicer 's choosing, PMI is to be dropped immediately. Finally, they're still trying to invoice me for the report despite not being able to utilize said report for intended purposes. I can obtain a copy of the most recent mortgage statement & appraisal if helpful.
Frequently Asked Questions
What is Complaint #5987224 about?
Complaint #5987224 was filed against Mr. Cooper Group INC. regarding Mortgage specifically about Trouble during payment process. It was received by the CFPB on 2022-09-15T12:00:00-05:00.
How did Mr. Cooper Group 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 Mr. Cooper Group INC.?
Yes, visit the Mr. Cooper Group INC. company profile at readthecomplaint.com/company/mr-cooper-group-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.