Guaranteed Rate Mortgage Complaint

Guaranteed Rate Mortgage department,

Conventional fixed mortgage Loan servicing, payments, escrow account Georgia

Guaranteed Rate Mortgage Company has blocked my request for application to remove PMI from my mortgage loan. They have also not made payment from escrow to pay for my property flood insurance. I have included a dated paper trail of my request. I emailed on - requesting PMI removal from my loan due to its increased value above the 75 % LTV thresh hold. I included both a pre and post renovation and improvement appraisal showing the home was worth - and is now valued at -. The mortgage note was 3 % down on a purchase price of -. My current note payoff is approx -. My calculations put my current LTV at - = 64 %. Guaranteed rate responded twice with the only option of requesting an appraisal at cost, and paying off the original note at current cost and pay them - dollars. I then completed a final request on - which stated that my request to remove PMI should be based on current LTV, and that I requested the 2 year seasoning waiver which is allowed per HUD rules for significant property renovation or improvement. I have heard no response from Guaranteed rate and I would


The second issue I am having with the bank is that they have not paid my flood insurance out of my escrow account. I received a letter on - from GR stating that they had no proof I had flood insurance, and that they were obtaining insurance at my cost on their behalf. THEY PAY MY INSURANCE THRU ESCROW!!!!. I contacted my insurance agent promptly and had her verify that GR was named on the policy. She has requested by fax, and phone, payment for this flood policy. It is now - and they have still not made payment. This is absolutely unacceptable behavior. My insurance payments should be made promptly by my mortgage holder who is responsible for escrow payments. I do n't know if the - issues are related, but I request that this Mortgage company be investigated for these issues.