My husband and I have a mortgage on our home that is serviced by Wells Fargo. The last home appraisal on our house, that was done at the time we re-financed through Wells Fargo, was {$240000.00}. On my XX/XX/XXXX statement, it shows that we have paid that down to {$190000.00} which is over 80 % LTV. So I called Wells Fargo to ask them to remove the PMI charges from my mortgage payment. I was told that I would either have to pay for an appraisal, or pay an additional amount over {$3000.00} in order to bring out LTV ratio up even more and then they would drop our PMI charges. The Homeowner Protection Act XX/XX/XXXX states that I should be able to call the company when I have paid more than 20 % of the equity in my home and the company is then obligated to remove the PMI charge. When I asked to speak to management and brought this up, I got a serious run-around. Then they told me that it could probably be removed, but that they would have to escalate it to some other department at Wells Fargo. When I asked how long that would take, they said it would take 10 days. So I told them I would call the XXXX Consumer Protection Agency the next day, and then they told me that they would get back to me within 48 hours instead of 10 days. This conversation between me and the people I spoke to at Wells Fargo happened less than an hour ago, but I am filing this complaint anyway since I feel this is against the law, and another example of big bank fraudulent activity and abuse. 
