Regions Financial Corporation Mortgage Complaint

Regions Financial Corporation Mortgage department,

FHA mortgage Loan servicing, payments, escrow account Alabama

In -, - I applied for and was approved for an FHA Mortgage through Regions Bank/Mortgage. At the time of application, and at the closing I was told that after 5 years of paying the PMI/FHA Insurance, and no late payments that amount would be dropped from my payment, thereby reducing my monthly mortgage payment. There has never been a late payment. Each payment has been made on-time. Last year ( at the 5 year mark ) I contacted Regions Mortgage Department about removal of the PMI/FHA Insurance charge on my monthly payment. They agreed and said they would look into it. They came back and said - That is correct that after 5 years the PMI/FHA Insurance could be removed ; however, the balance of the mortgage required to removed the insurance would not be reached until the year like -. Not only is this upsetting, it is fraudulent and deceptive.


4 years. I have contacted them numerous times about this and each time the tone is deceptive and misleading. Personally I would like to begin a class action law suit. I have contacted them multiple times over the last year asking them to continue to send me paper statements via USPS. They have yet to do that. Your help in resolving this deceptive practice for both myself and other customers is greatly appreciated.