[SossMan]

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My mortgage has PMI on it, I paid the loan down to where I have 78% loan to value from the original agreement. My understanding is that this was to come off automatically at 78% but now they want a Brokers Price Opinion costing me $115 which I don't want to do just because of the cost. Is this required or are they just jerking me around?

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Standard. Don't you pay more than that in MI? They aren't going to waive the requirement, so you seem to be cutting your nose to spite your face.

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Well I paid to have the Brokers Price Opinion (which from what I gathered is just another appraisal but cheaper), it just seems like a waste.

From what I had read on ftc.gov it seemed that the lendor was required to remove the PMI automatically once the loan reached 78% LTV. Once the loan reaches 78% LTV the appraisal/opinion seems irrelevant.

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what do you think V stands for in LTV? it's not loan to purchase price, it's loan to value.

If your house would have appreciated quicker (maybe it did?) you could have gotten it removed earlier w/ a broker's opinion showing 78% LTV.