PennyMac Loan Services, LLC Mortgage Complaint

PennyMac Loan Services, LLC Mortgage department,

FHA mortgage Loan servicing, payments, escrow account Florida

My wife and I purchased a home in - 2012 with an FHA loan through PennyMac. We have been paying PMI as required, but recently requested termination of the PMI due to significant increases in property value. The first request was denied about 8 months ago and we recently submitted a second request. I believe our loan docs state that PMI is to be carried for at least 5 years, however, everything I have seen shows if the home value does not exceed 78 % of initial loan amount then PMI is not required. I have also read that upon request of termination of PMI PennyMac could request an appraisal on our property. We would be happy to pay for an appraisal and feel our property far exceeds the loan to value ratio. Our loan amount was for $160000.00 and similar homes in our neighborhood are selling for well over $ -. Any information or effort you can make in resolving this matter would be greatly appreciated! We look forward to hearing from you!