Mortgage -- Trouble during payment process -- Complaint #8643464
Complaint Overview
Complaint ID: 8643464
Company: Specialized Loan Servicing Holdings LLC
Product: Mortgage
Sub-Product: Conventional home mortgage
Issue: Trouble during payment process
Sub-Issue: Private mortgage insurance (PMI)
State: Texas
ZIP Code: 77346
Date Received: 2024-03-27T12:00:00-05:00
Date Sent to Company: 2024-03-27T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
Over the course of XXXX weeks, I have emailed and called XXXX times to request that the PMI be automatically removed. I am repeatedly referred to the companies PMI removal fact sheet which clearly shows that I am eligible for automatic removal. I have further researched and read the Homeowners XXXX XXXX of 1998 and other online documentation that also clearly indicate my qualification. However the company refuses to remove the PMI unless I pay for a $ XXXX {$800.00} survey of my home which is not indicated as a requirement for automatic PMI removal in any of the documentation, theirs or public. I pay {$27.00} per month of PMI and that is not worth having to pay $ XXXX {$800.00} for an unnecessary survey but that still does not make it right that this company is arbitrarily keeping money of mine that could be applied to my mortgage principle instead. My original loan was XXXX The rules state I am eligible for automatic PMI cancellatiion at 78 % of loan value or XXXX. My loan is currently at XXXX. I am current on my payments, have been for many years, and I pay close to {$400.00} extra to principle every month. My home is worth more than 3 times the original loan and I've invested heavily in renovations and XXXX but I'm not paying for an evaluator that I'm not required to pay for.
Frequently Asked Questions
What is Complaint #8643464 about?
Complaint #8643464 was filed against Specialized Loan Servicing Holdings LLC regarding Mortgage specifically about Trouble during payment process. It was received by the CFPB on 2024-03-27T12:00:00-05:00.
How did Specialized Loan Servicing Holdings 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 Specialized Loan Servicing Holdings LLC?
Yes, visit the Specialized Loan Servicing Holdings LLC company profile at readthecomplaint.com/company/specialized-loan-servicing-holdings-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.