Mortgage -- Trouble during payment process -- Complaint #6518212
Complaint Overview
Complaint ID: 6518212
Company: New York Community Bancorp INC
Product: Mortgage
Sub-Product: Conventional home mortgage
Issue: Trouble during payment process
State: Washington
ZIP Code: XXXXX
Date Received: 2023-02-01T12:00:00-05:00
Date Sent to Company: 2023-02-01T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I made a principal payment to bring my XXXX to 77.8 %. After it cleared I sent in a PMI waiver form to ask to have the PMI automatically removed. They are now saying the bar has been moved and I will need PMI until 65 % XXXX. NO where in my original loan documents from the original LOAN I signed did it state that. Also Washington state law does not allow PMI to be charged on any mortgage after 80 % PMI. They also said I need o get an appraisal which is crazy cause I have only been in the house for 4 years. How much value could it have lost i n the recent market. I have argued numerous times and now they want a check for a XXXX appraisal at my expense. I was always have been on the understanding PMI automatically removes unless there is some special circumstance such as a blighted neighborhood where the house may have lost value. This is with Flagstar Bank who is currently servicing the loan.
Frequently Asked Questions
What is Complaint #6518212 about?
Complaint #6518212 was filed against New York Community Bancorp INC regarding Mortgage specifically about Trouble during payment process. It was received by the CFPB on 2023-02-01T12:00:00-05:00.
How did New York Community Bancorp 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 New York Community Bancorp INC?
Yes, visit the New York Community Bancorp INC company profile at readthecomplaint.com/company/new-york-community-bancorp-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.