Caliber Home Loans reviews and complaints 1
View all 55 complaintsCaliber Home Loans - Illegally refuses to drop pmi
Number one, by Federal law, Caliber is supposed to offer a DIRECT LINE to their "PMI" department, and they do NOT. Whenever I borrow another mortgage I will make SURE my note can NEVER be bought by Caliber. I am almost 50% LTV and have been trying since last October to get my PMI removed. 2 Years, never late, and made a $70,000 improvement, yada yada.
Their first plan was to EXTORT me to "refinance" and PMI will fall off, as well as escrow payments - because they KNOW my property doubled in value. I am NOT going to be extorted! Caliber Home Loans have made it a NIGHTMARE major time sucker upper to even bother trying. Their first letter to me (one page) mentioned I had to pay for my own appraisal so I used THEIR OWN approved Appraiser who they used to evaluate my property to begin with. THEN they claim their was a PAGE TWO which discussed my having to send THEM $350 and let THEM pick my appraiser. SO I am out $700 by now JUST to be told my paperwork is missing what improvements! THEIR APPRAISER I PAID FOR SHOULD have documented that.
I hate this company and wish I could still be with United Wholesale Mortgage or even Mr Cooper! I am going to write a letter to the Attorney General of Florida because Caliber NOT taking my PMI off is FRAUD to whoever that PMI insurance they pay and use. They are basically lying to their own PMI company that my loan is not strong. And THAT is a LIE!
I added a $70,000 Dock to my property and that was the improvement despite the fact my home value has doubled in the last two years.
Desired outcome: Do the appraisal I PAID you for and drop my damn PMI and STOP doing this game to others who are similarly situated.
Caliber Loans is still doing this. I'm going on nine months of similar excuses to prolong the removal of my PMI. Also, they refuse to allow me to speak to anyone in the PMI department and/or allow me to reach out directly to their so-called third party appraiser. The only reason I have not simply taken my loan elsewhere is b/c I got my loan when the market was at an all time low and I have a good rate. Caliber also did not pay my property taxes on time so I had to straighten that out myself. Even though I escrow, I went ahead and paid myself this year to make sure it was paid on time. Too add to the headache, Caliber paid my insurance to the wrong company, even though they had updated information 8+ months in advance (it was even updated on their website). Yes, one more thing I had to fix with a lapse in my home insurance b/c Caliber constantly makes mistakes and does not care to fix it themselves at all. You'll only get excuses, or worse, they like to blame the customer. Customer service is horrible, they repeatedly like to say, "I don't know." And really, they don't. They ARE actually clueless. DO NOT associate with this company. If I had known then of their reputation, I would have gone with anyone else. I have seen this same complaint from many others. I don't know how they still legally remain in business.