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Nationstar Mortgage / pmi cancellation

Houston, TX, United States Review updated:

Last year on january 31, 2012, I requested to nationstar mortgage to remove my pmi private insurance. Nationstar mortgage mensioned to me that they need to do an appraisal. They took four months to do the appraisal. When they had done the appraisal, they never notify me the results. I had to call nationstar mortgage to find out the results. They mensioned to me they were not able to remove the pmi insurance because I have to have a pricipal of 69, 600 and my principal on that time was for 69, 000. I thought, it is almost there to the rich the principal, so on semptember I called they back to request to remove the pmi insurance since I had riched the pricipal they requested. They told me the could not remove becuase the appraisal was olny good for 3 months. They said I have to do another appraisal. The appraisal was 445.00 and it was done by nationstat mortgage compnay. This mortgage company is the worst company I know. Still now they have not taken the pmi insurance. I am very dissapointed with this company

El
Feb 24, 2013
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Comments

  • Ge
      Mar 08, 2013

    I am going through the same thing with Nationstar. Each person gives me a different answer. Now they are telling me it is Fannie Mae that is requiring the PMI. I have less than 1% LTV Ratio and they are telling me it will take 9 months to be below 75%. My advice to anyone looking at Nationstar is run fast away from this company. They are a total fraud. But they have sent me 3 letters in 2 months to refinance with them. Ha! when hell freezes over.

    +2 Votes
  • No
      Jun 05, 2013

    I unwittingly signed up for the “trial period” for a loan modification with Nationstar. As I did not hear back from the agent named on the “offer” letter I began to research their program to see if I could find any information on their process. Low and behold….volumes of complaints on any type of related forum and complaint board. So I immediately just went back and made my regular payments. I denied their offer after finding out their tricks. (Remember…their “collectors” are not that bright). That made them hunt for anything they could to intimidate me. I have three fax numbers for them – bankruptcy (972-315-6757), foreclosure specialist (972-315-8637) and research (972-459-1611). When I fax, I fax all of them. I reiterate everything that was discussed in conversation as well as any response to any letters they send. I went to pay and the rep would not take my payment, said that there was a demand letter – I have not received it (of course), but found out how much is due and when. I faxed the rep asking to fax me a copy asap – to all 3 fax numbers! After what I’ve read I will submit complaints to FTC in Texas, State Attorney General (for CA & TX) to Consumer Financial Protection Bureau (I downloaded their listing so I can provide complain counts with my faxes), Texas Dept of Savings and Mortgage Lending, as well as a good number of the 488 state representatives. Here is where you can find that information. 1) http://www.sentate.gov/general/contact_information, 2) http://www.house.gov/representatives/ 3) http://tomas.loc.gov/home/state-ligistures.html 4) http://www.whitehouse.gov/contact/ . Lawsuit: Triplett vs Nationstar Mortgage Settlement – google it to see if you can participate.

    Get one of those online fax services so you can fax from your computer. Feel free to contact me – I’ve been researching and looking for more fax numbers – I’m making it a point to be heard! Good luck everyone.

    +2 Votes
  • Jb
      Oct 15, 2013

    I too have been trying to remove my PMI. I have been faxing, leaving messages, sending snail mail and I get no response. Every time I try to call, they say they have to send me a form to fill out. Well I've filled that form out at least 3 times (email, snail mail, and fax) and even have had it emailed.
    Every time I call this the same damn thing and they try to pass my call on to the "escrow dept" and all I get is the automated same voice prompts.
    The banking dept in Texas needs to step in!

    +2 Votes
  • Cp
      Mar 07, 2014

    We are having the Same problem with our mortgage for PMI removal from NationaStar.

    +1 Votes
  • Tj
      Jun 23, 2014

    Same thing happened to me. I've sent in my PMI removal form 7 different times. I got in contact with Doug Pennington, Loan Administration Manager at 214-687-4074. Don't worry, he won't call you back. Even after email confirmation that he received my PMI removal form 3 moths ago. We need to take legal action.

    0 Votes
  • Cp
      Jun 23, 2014

    I do have to put in a good word for our customer service rep David Grasham. It took over 6 months to get our PMI removed, however, David worked fairly quickly once he got involved. It did take 4 weeks after the appraisal to get it removed. But that is a normal timeframe. Both David and the equity accelerator reps notified me and our mortgage went down almost immediately. For us, the appraisal was in our favor since we now have 55% equity in our home. The process was frustrating, but the result was good. If anyone has an appraisal and they don't hear from Their Nationstar rep within 4 weeks, keep calling. Check with the appraisal service and make sure they sent it in, and document dates and times of each conversation.
    Now, I'm trying to set up a way to pay for the appraisal. I haven't heard back from him about that process, yet. They already paid for it, so we'll see what happens.

    +1 Votes
  • Do
      Aug 22, 2014

    We were transferred over from BOA with a FHA loan, the PMI should have been removed 07/01/2014 per documentation that we signed at closing. We are currently at 78% and they are telling me that we are at 89%. They are saying that the appraised value is the original loan amount, which it is not. The value of the home is 195k, we bought the house for 174, 900 and the amount currently due on our home is 154k. I'm not sure where they are getting their figures but we are paying them money for something that should be removed... when I call I get the run around and nobody knows what was said and they can't look back at the messages I sent online... What kind of bank is this? It's unreal that they call themselves a bank. I have contact our district attorney and the Consumer Financial Protection Bureau. I don't know what else to do! I would love it if there was a class action suit again them and we could all get our money back and more! What a shady bank

    0 Votes
  • Pe
      Nov 17, 2014

    I have been trying for 3 months to get a payoff amount in order to get rid of my PMI insurance. They tell me that my LTV is currently at 83.3%. after I calculate this I would have to send a lump sum check for around 15k. when I try to tell them this they tell me that the house needs to be appraised first, which will cost me $450. Why do I need to get my home appraised if the LTV is based off the original loan amount? I have paid over 25k for past 7 years for PMI insurance! They tell me if I send the lump sum check and it goes towards the principle to bring the LTV down to 80% that they cant guarantee that my PMI will be removed! can anyone help me or do I need to get a lawyer.

    0 Votes
  • Mr
      Apr 21, 2015

    This bank sucks! I faxed in my PMI Removal Request 55 days ago and I still haven't heard from an appraiser. I call them al the and they tell me that everything is going well. I have left a message with a supervisor named Haily Thomas and got no reply. I then talked to another supervisor, Charlie Sulteras, and he said he would "make it happen". He then told me they never received the fax so I faxed it again, twice. I waited two more weeks and called Charlie back but his voice mail was full. I talked to another supervisor, Louis Hayes and he said they never received the fax so I faxed it again, twice. They didn't receive it so I insisted that I scan it and email it to him. It has been 9 days since and I still haven't heard from an appraiser. I emailed Charlie again today (tried to call but his voicemail was full again, ) and have yet to hear from him. This process is only supposed to take 4 - 10 days to hear from an appraiser. This place sucks. I told Louis that I didn't have much faith that this was going to get resolved but he tried to assure me that it would and then I told him to look at the log of my follow up calls since my initial fax, 48 days prior, and he indicated that I have been in touch ALOT. After looking at this forum I'm thinking of refinancing with somebody else so I can finally get rid of my PMI but it going to cost me thousands to do that. I have no faith in this two bit bank! It appears that I'm not the only one with this problem. They say on their website that customer service is a priority, garbage! This battle is going to take me probably 9 months to get resolved...

    0 Votes
  • Ns
      Jul 01, 2015

    Maybe if you could speak right u Wud understand it goes through ur investors

    -2 Votes
  • Da
      Oct 10, 2015

    I have tried to cancel my PMI couple months ago but they told me the same thing - I would need to pay around 9k to cancel it, which doesn't make any sense because I was at 79% LTV (according to my closing docs I could request cancellation at 80% or it will automatically terminate at 78%). Since they weren't willing to really work with me on that I decide to leave it and wait for this Nov. 2015 when it is supposed to be automatically cancelled. Did anyone have any experience with them and cancelation once the mortgage reaches 78% LTV? Do I still need to submit specific form?
    I'll give them a call next week and see what they say about all this.

    +1 Votes
  • Ms
      Nov 10, 2015

    We followed every stipulation that they wanted to remove the pmi - be current, no late fees, no payments more than 29 days in the last 12 mo...no payments more than 59 days in the past 24 months...and now we are onto getting them to send out an appraiser.
    FAT CHANCE... every time we call...we are on hold, transferred, told yes, told no, disconnected or need to send in more info. I am currently filing a complaint with the AG in Texas and BBB and if i find the Federal Agency that handles them...im filing with them too. SICK OF THE RUN AROUND!

    0 Votes
  • Ja
      Mar 14, 2017

    See new legal work toward class action lawsuit against this awful practice: https://www.law360.com/articles/819659/nationstar-can-t-duck-mortgage-insurance-class-claims

    0 Votes
  • Ja
      Mar 14, 2017

    You may register as part of the class action here: http://audetlaw.com/investigations/nationstar-lawsuit-private-mortgage-insurance/

    0 Votes

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