What's this automated system for getting rid of PMI?

Every bank uses different criteria to determine when you are allowed to remove your PMI. The law sets out very specific rules. It is likely they are using a Property Valuation system. These are systems that try and estimate a likely valuation of the property in question. In many ways, the value is pretty spot on, but because they are only using data, instead of an actual appraiser, the values can sometimes be off by tens of thousands of dollars in the valuation they give, versus the value an appraiser would assign. ~ Bert Carpenter, The LoansA2z Team of NEXA Mortgage ~ NMLS 40586 ~ Licensed in AZ, CA, GA, OR, WA... In fact, NEXA is licensed in all states except MA and NY and we are pending approval in VA, so give us a call. ~ www.ApplyYes.com 480-889-9000.