Nation Star bought our mortgage loan from our (local) bank. The original term on the original loan document stated that when the LTV drops below 80% customer can ask to remove the PMI, or it will automatically drop at 78%.
We even sent them the original loan document. Today, Nation Star said no because their LTV value is set at 75% for them to drop the PMI. They will continue to collect the PIM premium for additional 5% of the LTV.
We are sorry that Nation Star should have known when they purchased somebody's contract, all the terms in the original contract prevail. If they don't back them, we will file complaints to the state and federal authorities ( try https://www.jasmithmonitoring.com/omso/state/west-virginia-2/ to find out places that will assist consumers to fight these big boys).
Product or Service Mentioned: Nationstar Mortgage Loan.
Reason of review: Problems with payment.