Mortgage -- Trouble during payment process -- Complaint #7132886
Complaint Overview
Complaint ID: 7132886
Company: Mountain West Financial, LLC
Product: Mortgage
Sub-Product: Conventional home mortgage
Issue: Trouble during payment process
State: California
ZIP Code: 94560
Date Received: 2023-06-18T12:00:00-05:00
Date Sent to Company: 2023-06-18T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
My mortgage company did not automatically remove my monthly PMI charge despite already having reached a principal balance that is 78 % of my home value. I purchased my home for {$500000.00} and initially only put 10 % down so I have been charged a monthly PMI. Starting in XX/XX/XXXX my principal balance had reached {$380000.00}. I mailed a few letters requesting PMI removal but did not hear back, so on XX/XX/XXXX XXXX am I called XXXX XXXX XXXX XXXX, I spoke with XXXX. Questioned why my PMI has not been removed since my principal has reached 78 % of original home value back in XX/XX/XXXX. She said she would send a request to have it removed. I told her that I was advised that in the state of California PMI is supposed to fall off automatically once principal reaches 78 %. After placing me on hold she let me know that she will submit a request to have PMI removed and those extra PMI payments refunded, but told me that there was no guarantee. I got a letter letting me know that PMI has been removed from my monthly mortgage payment starting XX/XX/XXXX, despite meeting criteria of automatic removal back in XX/XX/XXXX. They also denied my refund request for PMI payments that were sent in XXXX and XXXX.
Frequently Asked Questions
What is Complaint #7132886 about?
Complaint #7132886 was filed against Mountain West Financial, LLC regarding Mortgage specifically about Trouble during payment process. It was received by the CFPB on 2023-06-18T12:00:00-05:00.
How did Mountain West Financial, LLC 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 Mountain West Financial, LLC?
Yes, visit the Mountain West Financial, LLC company profile at readthecomplaint.com/company/mountain-west-financial-llc 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.