Citibank Mortgage Complaint

Citibank Mortgage department,

Conventional adjustable mortgage (ARM) Loan servicing, payments, escrow account Illinois

On -/-/-, I went to a local CitiBank office located at - - - -, -, IL - to move forward with PMI removal. The banker stated he was not aware of how to get this completed but would put me on the phone with a mortgage specialist. I was led into one of the offices at CitiBank and he put me in contact with a mortgage specialist via phone to CitiMortgage, who informed me that he would have someone get in contact with me who would be able to assist me with this request. For a month, I had not heard from anyone from CitiMortgage. This is not the kind of customer service I have been provided in the past ; I have been a loyal and timely customer for a decade. On -/-/-, I called into CitiMortgage and was informed by the CitiMortgage representative that the PMI was removed. When I called -/-/- to confirm the PMI was removed, I was told the opposite. The CitiMortgage representative now stated the PMI had not been removed and my rate had adjusted which


Per the Homeowners - - of -/-/-, I have a right to request PMI removal once the unpaid principal balance reaches - percent of the original value based on the current amortization schedule and having paid the mortgage on time without an appraisal. I purchased my property in -/-/-, at an appraised value of $430000.00. My current unpaid principal balance is $340000.00, less than - percent of the original value. CitiMortgage informed me that my PMI was removed as my payment had gone down. Only when I called in the following month did CitiMortgage then reneged on their previous statement. I have complied with my obligations and have paid my mortgage on time with additional payments to get it under - % loan to value.