M&T Bank Corporation Mortgage Complaint

M&T Bank Corporation Mortgage department,

FHA mortgage Loan servicing, payments, escrow account Arizona

I wrote M & T Bank this letter on - -, - and mailed it the same day. As of today, -/-/- there is no response. This letter is in regards to the Mortgage Insurance on my loan. This loan was originally done in - by - Bank. It was sold to M & T Bank within the past year or -. When I originally got the loan, I was told the PMI would go away after 5 years OR after reaching 80 % LTV on the home. As of today, the home value has increased enough to be at 80 % LTV and the 5 year mark will be this - -. I did a - Refinance to lower the rate, which I was also told would not affect the timeframe. I was also told if I


I just got off the phone with a representative today ( -/-/- ) who told me I would not be able to get rid of PMI until -. According to this representative the guidelines are different. She mentioned I have to be at 78 % LTV AND 5 years with the property. According to your system the 5 years started after the - ( I was told it would not make a difference due to the type of loan ) The balance on the mortgage has to be at 78 % LTV from the purchase price, around $120000.00. In this case, there is enough equity in the home to meet the 78 % and this - will be 5 years. The PMI should go away in - -.