Mortgage -- Trouble during payment process -- Complaint #7159662

Complaint Overview

Complaint ID: 7159662

Company: Ocwen Financial Corporation

Product: Mortgage

Sub-Product: Conventional home mortgage

Issue: Trouble during payment process

State: Wisconsin

ZIP Code: 544XX

Date Received: 2023-06-23T12:00:00-05:00

Date Sent to Company: 2023-06-23T12:00:00-05:00

Company Response: Closed with explanation

Timely Response: Yes

Consumer Disputed: N/A

Submitted Via: Web

Consumer Narrative

I ordered an appraisal for myself in XXXX of XXXX. When the appraisal came back I realized that the value was high enough to have PMI removed. I called PHH and asked how the process worked. They sent me a letter in XX/XX/XXXX with what I needed to do. Once I received the letter I called PHH again and spoke with XXXX to see if I could use my own appraisal. I was told that I could send in my appraisal and would be able to use it. I sent my appraisal to XXXX on XX/XX/XXXX. After waiting a week I called to make sure they received it. I was then told that they dont allow you to use your own appraisal. After going back and forth with different people for weeks and weeks because you can never speak to the same person and always end up getting transferred, I was always told different answers by different people. Yes you can use your appraisal, no you cant use your appraisal. I finally gave up and stopped pursing the issue. After waiting a while I was still frustrated that nothing got resolved and I was still paying PMI know the value of my home. I called PHH again in XX/XX/XXXX and request PMI be removed. I received their letter on XXXX XXXX stating the process. I called PHH to request a list of appraisers that they use. During this phone call I spoke with a customer service lady who stated that I should have been able to use my appraisal when I sent it in XX/XX/XXXX. She transferred me to XXXX an escalations manager XXXX who also stated I should have been able to use this appraisal back in XXXX. He told me he was going to get to the bottom of why my appraisal wasnt used and get me a list of appraisers that PHH uses. He said I would hear from him in 3 business days as he put a rush on my request. This all happened on XX/XX/XXXX. After not hearing back from XXXX I called back to PHH on XX/XX/XXXX and spoke with a customer service rep who was rude and was no help! She told me she could not transfer me to XXXX and that I would need to order and appraisal through them with the form I received in the mail. I told her I wanted to speak to XXXX. She said she would put a request in for him to call me. Again, everyone has a different answer and my issue cant be resolved. I have been dealing with this since XX/XX/XXXX and in the meantime am paying {$120.00} a month in PMI that I should not be required to pay. I received an auto email on XX/XX/XXXX that I need to allow sufficient time for my questions to be answered. I think 10 months is sufficient enough. On XX/XX/XXXX I was told my appraisal was older then 90 days. Well yes, now it is, but it wasnt when I sent it in XXXX of XXXX with my original request. Why was it not reviewed and used then!? I want answers and am extremely dissatisfied in this company.

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Disclaimer

This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.

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