Mortgage -- Trouble during payment process -- Complaint #8798716
Complaint Overview
Complaint ID: 8798716
Company: Planet Home Lending, LLC
Product: Mortgage
Sub-Product: Conventional home mortgage
Issue: Trouble during payment process
Sub-Issue: Private mortgage insurance (PMI)
State: Texas
ZIP Code: 751XX
Date Received: 2024-04-17T12:00:00-05:00
Date Sent to Company: 2024-04-17T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Tags: Servicemember
Consumer Narrative
On XX/XX/XXXX I paid {$200000.00} on an original loan amount {$380000.00} loan. At the time of payment the loan was recast at {$170000.00}. In XXXX I was informed that my escrow account was not sufficient to pay taxes and insurance and after examination I discovered that PMI was being charged and called my provider and then filed a complaint with them online. The response was you did not ask for it to be removed and we do not base our PMI on loan to value we base it on the amount of the loan that is paid off by recasting the loan it is not paid off to XXXX percent. I submitted proof of the houses in the area that sold that my loan to value has been reduced and they remove the PMI now but refused to reimburse prior payments when it should have been removed already under Homeowners Protection Act of XXXX ( HPA or PMI Cancellation Act, or Act ).
Frequently Asked Questions
What is Complaint #8798716 about?
Complaint #8798716 was filed against Planet Home Lending, LLC regarding Mortgage specifically about Trouble during payment process. It was received by the CFPB on 2024-04-17T12:00:00-05:00.
How did Planet Home Lending, 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 Planet Home Lending, LLC?
Yes, visit the Planet Home Lending, LLC company profile at readthecomplaint.com/company/planet-home-lending-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.