PMI problems! Is this BS?

[Shayne Fee]

I hate surprises.

I have always been told, get to 80% loan to value and you can remove your PMI.

I'm there.

I call my mortgage servicer and say I'd like to remove my PMI and they say nope! Got to be at 75% LTV! What!?

I closed this loan in August of last year and remodeled the home top to bottom. We're probably around 22-23% equity in the home right now. 

This is annoying! Does anyone know if this is BS? 

They said it's a Fannie Mae guideline for removing PMI early...if that was true I would think one of the multiple lenders I talked to about this during my loan process would have mentioned it...if anyone knows what the real deal is here or has any advice I would greatly appreciate it!

Thanks in advance!