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Company Loan Type APR Est. Pmt.

Do I need an Appraisal to remove PMI?

Posted on: 15th Jun, 2007 04:42 am
i had taken a fannie mae loan and paid off more than 20% of the original home value. I called up the mortgage company and it said that I need to pay $400 to get an appraisal done before they would remove the pmi. But isn't this done automatically when I pay off 20% of the original home value. Is it correct?
i'm not sure what you're driving at in the final sentence (phrase)...some loan officers are never "your buddy" but that's not unusual. but i don't know what signing the papers at closing would cause that they'd be unresponsive, other than the fact that a deal has closed, and there's nothing they (we) can do about how a loan gets serviced. i have made it a point to stay in contact with my borrowers (and it isn't just me, either), as it could lead to further relationships of course, but also it's simply important to me that my clients know i am there to assist if at all possible. i still get calls from folk i worked with years and years ago. yes, i know there are poor loan officers - they make our lives a little worse than they ought to be, after all.
Posted on: 11th Feb, 2010 10:45 am
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