U.S. Bancorp Mortgage Complaint

U.S. Bancorp Mortgage department,

Conventional fixed mortgage Loan servicing, payments, escrow account Iowa

I am trying to cancel PMI as I have paid my Mortgage down early to an 80 % level and I 've never had a late payment. My Mortgage company ( US Bank ) wo n't let my cancel it as I 'm advised I need a BPO to prove my home value has n't decreased since I bought it. The BPO is n't a requirement of the Federal Government, but US Bank is telling me it is. This is my problem, I know they can unfairly do this to me so I am forced to keep PMI or pay them more money. They probably know that the value of my home has dropped since I bought in in 2008 and since then have never had a late payment. However, if I pay - dollars for a BPO they can then show I 'm not really at the 80 % value they want AND they are trying to advise it 's the Government that is making this decision when it is their choice. This is unfair and deceptive practice.