U.S. Bancorp Mortgage Complaint

U.S. Bancorp Mortgage department,

FHA mortgage Loan servicing, payments, escrow account Washington

I have a loan with US Bank and refinanced and closed on -/-/-. The appraisal for the -/-/- refinance was $380000.00. I was told I would have to wait until my loan was 5 years old before having the PMI removed. On -/-/-, just before my 5 year anniversary date I contacted US Bank to have the PMI removed. My home value on -/-/- per the current market was over $500000.00 and my loan balance was $310000.00. The first representative indicated that I could arrange through US Bank to get an " abbreviated '' appraisal for $150.00 such that my new LTV was based on current market. She gave me a fax number and email to submit my request to. Upon submitting my request I received a canned text letter back stating the LTV must be - % of original loan value and that HUD does not take into consideration current market value of property. That it 's based solely on the information from closing ( which would be the -/-/- old appraisal amount of $ - ). I let the issue go then recently logged into my account and noted that I am now well below the LTV they


He said he would contact the PMI department, have them send me a packet in the mail and that I should review the packet and see if I can find anything related to the appraisal option. So I waited for the packet to arrive ... Instead of a " packet '' arriving what I did receive was a - page letter indicating that I 'd met the HUD requirements for terminating the monthly MIP and that they 'd notify HUD and update my monthly payment amount. I would like to be reimbursed for all months they charged me MIP from -/-/- to todays date. It was I that proactively reached out to them several times requesting for it to be removed yet they A. ) did n't give me the appraisal option such that the value was based on current market - as they apparently have for other customers and B. ) continued to charge me the last few months for MIP when I was already at the level they outlined in their letters.