Franklin American Mortgage Company Mortgage Complaint

Franklin American Mortgage Company Mortgage department,

Conventional fixed mortgage Loan servicing, payments, escrow account Texas

Purchased home in - 2013. Bought specifically for potential equity position in rapidly growing and valuable area. Put 5 % down knowing that in a few years my home would be worth enough to justify PMI removal. After requesting PMI removal in - this year, it was denied because I had - late payment while I was out of the country and my servicer did not have online capabilities and I could not phone. they would not waive this late. Due to this late, I was instructed to start the process again in - this year. The only method of contact for my servicer 's PMI department is email. They have no phone number and no one to contact, just have to email and hope. After several emails, I received a letter saying the removal was denied bc my home was not at 80 % LTV. It is in fact at 75 % LTV and even that tax recirds indicate so. I sent in a dispute and have followed up weekly for six weeks with no action form my servicer. I have spent countless hours on the phone and have sent numerous emails, the most recent being a " fifth and final request '' in the subject line and within the body stating that I was going to seek external assistance, which I am doing now. My PMI is $ -/month and so far I have spent an extra $3000.00 annually on this insurance that no longer applied to my credit terms and by my servicer 's determination I have paid an extra $560.00 because of their lack of action ( the discrepancy there is due to the date I think the PMI should have been removed VS the date they claim )