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Personal Finances / Buying or Selling a Home


Subject:  Re: PMI Premium on payoff statement Date:  1/25/2013  4:29 PM
Author:  crackdclaw Number:  124600 of 128866

I've searched for class action suits against Citimortgage. There are a couple out there but none that involve shady PMI practices.

I recognize it's popular right now to hate banks, but the PMI is probably not issued by Citibank. There are several independent companies that provide the bank mortgage insurance. The bank collects the premium in the mortgage and passes the money on to the PMI company who insures the loan.

You're going thru your servicer Citi, and they should be representing your interests to the PMI company that is used. So if you're gonna hate, hate for a valid reason.
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