USAA Savings Mortgage Complaint

USAA Savings Mortgage department,

Conventional fixed mortgage Loan servicing, payments, escrow account New York

I am a New York State resident. I refinanced my home mortgage with USAA Federal Savings Bank, signed -/-/-. The monthly payment, included PMI ( $79.00 per month ). As the appraisal value reported before the signing, was valued at $290000.00. As of -/-/-, the outstanding loan mortgage was $230000.00, as I have made extra dollar toward the principal reduction each month since -/-/- with no obligation and penalty. As I called and tried to reach out USAA-Mortgage Dept since -/-/-, requesting my PMI to be cancelled or to be removed, and I did not get any immediate answer, until I received a letter by a regular mail that, is requesting a new appraisal value as of today ( it must be current ), and I must pay the appraisal expense directly to USAA. ( USAA was outsourced to a third party company called, -/phone # : -, for managing the loans and the payments on behalf of USAA. ) Since -/-/- to -/-/-, my request has gone undetermined,


detail related to the PMI and the cancellation, and other requirements. The New York Department of Financial Services guided that it did not require a current appraisal report in order for PMI cancellation, and it must follow the appraisal reports used on -/-/-. I had explained and tried to provide the sources to the managers ( third party Co ), related to the NYS-Dept of Financial Services, and all managers refused to listen and ignored to follow the NYSDFS 's guidelines, and verbally over the phone that regardless the current balance is below the 80 % threshold. I tried to reach out HQ-USAA, and I was unable to speak to someone that could help me at this point. As of today, I am still paying the PMI, as part of my monthly mortgage payment since -/-/-. Please advise, should I continue to make the PMI payment every month to USAA until the expiration date of -/-/- even the current principal is below the 80 % threshold? If I requested my PMI to be terminated by -/-/-, and I was informed by USAA-a third party Co that, they still need a new and current appraisal report. In addition, the automatic PMI termination date is on -/-/- with no requirement for an appraisal report.