PMI Agreement from Citi

I received the PMI agreement from Citi.  The first thing I noticed is that my signature is nowhere to be seen, which I suspected.  In fact, I don’t think I’ve ever seen this.  The other thing I noticed is that the appraised value does not appear to be correct, although that’s not important.  So basically, the agreement doesn’t say much of anything.  It has the percentages and durations on there.  It says “Non-refundable premium if cancelled.”  I’m not sure that this applies to me in any way.  I didn’t cancel my insurance; I paid off my loan.  And besides that, Citi didn’t make the payment until two weeks after I paid the loan off, which means there would be nothing to refund since  no payment had been made until they decided to go back and charge me for an extra month.

Given the lack of any documentation specifying how the money is to be collected, I’m still fairly sure they charged me for an extra month.  I’m going to call the Office of the Comptroller of the Currency, and ask for their opinion before I pursue this any further.

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