Date Received: 2017-10-25
Issue: Trouble during payment process
Subissue:
Consumer Complaint: Hello : Our family owns a home in XXXX, NM and our loan currently has PMI. We have paid down the principal and are now at 78 % XXXX. PNC services our loan. After we reached out, PNC sent us a letter saying that we are required to pay them XXXX XXXX which PNC owns jointly with XXXX ) {$590.00} for a XXXX Single Family appraisal because the loan investor requires proof that the property has not declined in value. What we would like to confirm is whether we actually need the appraisal. Per your efforts with XXXX XXXX, we read on your site/ comments that " Servicers must end a borrower 's requirement to pay PMI when the principal balance of the mortgage reaches 78 % of the property 's original value. '' We could be missing something but since we have it in writing that we have a XXXX of 78 % this would imply that PNC is responsible for ending our requirement to pay PMI. Again, we know our understanding of the subject is elementary. The process of removing PMI seems unbelievably heavy on a customer. We can not even imagine how much money is drained from our economy each year as a result. What bothers us more is that banks/ servicers turn a solid profit either way by setting up a toll booth which forces borrowers to pay them/ their subsidiaries large high-margin appraisal payments. Luckily, our family can afford this ( it will be tough to stomach and actually pay but we can if we have to thankfully ). Our fear is that for many who are arriving at this step ( hopefully they are even aware ), the appraisal price tag at 78 % could be a massive barrier to removing a large needless expense from their monthly budget. Again, we understand we could be missing some things but if you have any guidance for us it would be very much appreciated. Please let us know if you have any questions. Thanks in advance for your time and all you do and stand for at the CFPB.
Company Response:
State: TX
Zip: 78702
Submitted Via: Web
Date Sent: 2017-10-25
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-10-25
Issue: Trouble during payment process
Subissue:
Consumer Complaint: I could not access my account online and the phone tree system was non-responsive to touch-tone entries. I called at XXXX XXXX to XXXX. I 've tried multiple times to reset my password online and the web form simply states I have incorrect information, but I really do n't know what to do to gain access to the account since I do n't know what information is incorrect.
Company Response:
State: CA
Zip: 95747
Submitted Via: Web
Date Sent: 2017-10-25
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-10-24
Issue: Applying for a mortgage or refinancing an existing mortgage
Subissue:
Consumer Complaint: I had a HELOC with PNC Bank that was nearing the end of the drawdown period. It was interest only repayment loan. In XXXX, I asked loan officer XXXX XXXX to extend the drawdown period with same interest only payment. After not hearing back for 10 days, I went to the branch and found he was no longer employed. I asked for all my documents back, and they could not be found. Which is pretty concerning. I was contacted the next day by the manager, and found my request was sent to another LO XXXX XXXX. He never spoke to me or asked what I was looking to do ; only emailed me more requests for documents. Then in XXXX I found out my HELOC was refinanced into an interest and principal repayment loan. Not what I requested. I spoke with XXXX XXXX and XXXX XXXX, who are in the PNC Executive Client Relations Dept. I explained how my case was mishandled ; from losing all my documents, to no communication with the Loan Officer, to refinancing my loan into terms I did not request, and was told there is nothing they can do other than I try and refinance again. I am currently going through the process again.
Company Response:
State: IL
Zip: 60126
Submitted Via: Web
Date Sent: 2017-10-24
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-10-24
Issue: Problem with a credit reporting company's investigation into an existing problem
Subissue: Their investigation did not fix an error on your report
Consumer Complaint: We were victims of hurricane Irma in XXXX Florida. Our power was out for a week from XXXX XXXX through XXXX XXXX. Due to limited access to internet and financial and government institutions being closed, I missed a {$15.00} payment on my credit line. On XXXX XXXX, I called PNC to make payment and bring the account current. I spoke to XXXX XXXX at PNC at XXXX. He assured me the late hit on my credit report would be reversed. I tried reaching out several times following our initial conversation leaving voice messages with XXXX XXXX at PNC with no reply. PNC needs to reverse the 30 day negative late on my credit report.
Company Response:
State: FL
Zip: 33462
Submitted Via: Web
Date Sent: 2017-10-24
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-10-24
Issue: Managing the loan or lease
Subissue: Billing problem
Consumer Complaint: I went to Pnc bank XXXX XXXX, Pa on XXXX/XXXX/XXXX for a personal loan and it was handled without any problems. I then ask XXXX XXXX about a lease payoff. She called XXXX XXXX XXXX for gross payoff amount and received {$23000.00} which was good until XXXX/XXXX/XXXX. That was also the date of my next lease payment. She then received hard copies via fax of everything that was needed to satisfy the payoff for XXXX to release the title to Pnc. So far everything went well. I was told the Pnc check ( XXXX ) was sent via XXXX XXXX to the address specified by XXXX. I waited @ XXXX week and called XXXX to see if they received and processed the check and was told they did not receive it. XXXX was calling me everday sometimes multiple times a day asking about a credit card that I signed up. I told they did not get the check and her answer was it sometimes takes 10 days. I waited called XXXX 2 more times and received same answer, no check. Told XXXX again and she did nothing except ask me about credit card activation and useage. Finally on XXXX/XXXX/XXXX my lease payment was due and lease payoff quote expires I called XXXX early and found that tbey never received Pnc 's check. I called XXXX and told her again XXXX 4 times ) that the check was never received by XXXX. She apparently did nothing that day and waited till XXXX/XXXX/XXXX to call them. Now the quote had expired and when she got the payoff quote it was now {$25000.00}! I have already received a loan from Pnc for {$23000.00}. There is a difference of {$1600.00}. XXXX says that its not their fault and will not honor original quote number and Pnc says its not their fault because they did nothing wrong. I am paying {$420.00} to Pnc and {$320.00} to XXXX. My daughter got married on XXXX/XXXX/XXXX and di not have that " extra '' money. Pnc quit trying to help and will not even call me back with their results. I believe the fault is Pnc due the unwillingness of XXXX to follow up on loan. Pnc reissued another check for {$23000.00} and XXXX cashed it. I need help. Someone or both need to step up for their mistakes or complacency.
Company Response:
State: PA
Zip: 151XX
Submitted Via: Web
Date Sent: 2017-10-25
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-10-24
Issue: Other transaction problem
Subissue:
Consumer Complaint: Took a long time to get my money
Company Response:
State: FL
Zip: 33404
Submitted Via: Web
Date Sent: 2017-10-24
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-10-23
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: When my husband died, I went to XXXX XXXX, took classes and the whole nine yards. After all said and done I was happy this was in XXXX. House payment was {$500.00} mo. PNC ( National City Bank ), during their transition I got lost in the paper, I could never talk to anyone about my loan or get any information, even my tax preparer tried to get information. Since XXXX until XXXX XXXX, XXXX, I had not heard a word from PNC! Now here I have, I am on XXXX and getting ready to get out of a house that I have tried to keep since XXXX! Please help if you can. Contact me for more information, I have a folder full of information with Names, Times, Dates, Telephone Numbers of the people I have tried to contact. Information I did received, then the went cold until I received a letter XXXX/XXXX/XXXX. Thank You.
Company Response:
State: OH
Zip: XXXXX
Submitted Via: Web
Date Sent: 2017-10-24
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-10-20
Issue: Trouble during payment process
Subissue:
Consumer Complaint: I have been misled by the representatives of PNC bank. I was looking at some refinance options and around XXXX XXXX, I called the bank before deciding on the refinance. The person I spoke to informed that my property taxes are low currently and I was issued an escrow refund of {$2100.00} in XXXX, XXXX. Since I never received the refunded amount, the check will be reissued. Additionally, keeping in mind the current lower property tax an escrow analysis was rerun and I was informed that my new payment will be around {$1900.00} from XXXX XXXX and I will be getting further refund taking my total escrow refund to around {$3800.00}. These payments will be readjusted in future when my taxes are recalculated by the county. However, when I called today to inquire about the delay in getting the refund check, another representative told me completely different thing. She informed me that only the XXXX payment will be refunded and my payment will remain same. This is a clear case of misleading the customer and because of the shady practice I lost the chance to refinance after paying appraisal and processing fee of around {$400.00}. It also messed up my calculations about another personal loan that I was hoping to repay with the refinance option. This sort of misleading has messed up my finances and I am stuck in a precarious situation. All the bank will do is " better train '' their employees.
Company Response:
State: OH
Zip: 43035
Submitted Via: Web
Date Sent: 2017-10-20
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-10-20
Issue: Trouble during payment process
Subissue:
Consumer Complaint: My house was f looded due Hurricane Harvey. I do have flood insurance and went through all the proper channels in filing a timely claim with XXXX. The house has been inspected by XXXX and they have sent a check for insurance proceeds co-endorsed to myself and the mortgage company who is PNC Mortgage. I have filed all requisite paperwork with PNC Mortgage multiple times, every time I call them I get a new request for paperwork that has already been submitted multiple times. Regardless, PNC is refusing to release any funds until 100 % of the work is finished. XXXX and PNC Mortgage in mid XXXXXXXXX told me to find a contractor and get an estimate and sign the contract with my chosen contractor and begin the rebuild of the house. I did just that and the contractor required some upfront costs as well as payment for work done such as sheetrock, paint, doors, trim all construction costs incurred to date. PNC originally told me that insurance proceeds would be paid out in third inciments meaning 1/3 up front, 1/3 when the house is 50 % finished and then 1/3 when the house is 100 % finished. PNC is refusing to honor this and has yet to pay anything except a {$5000.00} advance from XXXX. PNC is currently holding {$76000.00} of insurance proceeds. To date, I am {$69000.00} out of pocket because PNC told me that payment would follow the above installment plan. My house will not be to 100 % complete until XX/XX/XXXX backorder of workers who are to install tile and flooring. 2 months with {$0.00} will literally bankrupt me because some of the work that was completed is on credit cards. PNC asked me to submit all invoices and checks that prove that I have paid out of pocket which I did, and continue to do as I incur costs. I feel completely taken advantage of and steam rolled by PNC Mortgage. They have been so terrible to work with from not giving me clear instructions, to misleading payment timelines to outright lies and untruths of how they will deal with the insurance proceeds once they have received a check from insurance.
Company Response:
State: TX
Zip: 77450
Submitted Via: Web
Date Sent: 2017-10-20
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-10-22
Issue: Managing an account
Subissue: Funds not handled or disbursed as instructed
Consumer Complaint: I discovered over 80 fraudulent checks that were written by my ex wife and her family out of my checking account with PNC bank. I brought this to the bank 's attention and got the runaround for months. At the end of their investigation I was told there was nothing they could do to rectify the situation.
Company Response:
State: IL
Zip: 62959
Submitted Via: Web
Date Sent: 2017-10-22
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A