Consumer complaint received 2019-10-11
Company: PNC Bank N.A.
State: TX
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Trouble during payment process

Complaint:
We took out a mortgage refinance ( Texas equity loan ) XX/XX/XXXX with XXXX Bank as the lender. The loan amount was {$230000.00}. The loan was transferred in XXXX or XXXX of this year XXXX to PNC Bank. I do not know exactly when the servicer changed as I did not receive any communication of the servicing transfer. I received a new mortgage coupon book at the end of XXXX ( there was no additional details with the coupon book ). The flood insurance was due ( XX/XX/XXXX ), our property is located in a flood zone and escrowed with the monthly mortgage payment as required by law. I was notified by my insurance company the flood insurance had not been paid by XXXX. I then called PNC bank, On XXXX I was told the flood would be going out soon, by their customer service. During the call the customer service rep asked how I planned to cover/repay my escrow account. I explained to the rep, my flood insurance is escrowed with my mortgage payment and there shouldn't be anything else required from me. The rep indicated that at the end off XXXX PNC bank had paid my home owners insurance in the amount of {$2700.00}. My home owners insurance is not supposed to be escrowed. I signed and returned documentation XX/XX/XXXX with the original loan docs that only flood would be escrowed and I would pay separately the home owners insurance and property tax. I paid my homeowners insurance myself at the end of XXXX. This meant the homeowners insurance company was paid twice. I told the rep, they should contact the insurance company to obtain the payment they sent out in error. To which they indicated it was now my problem and I would need to get the duplicate payment repaid to me by the insurance and then turn around and send PNC a check back. They also explained that they would have to review the loan to check if it was eligible to have the home owners insurance account removed. I explained there was only suppose to be flood insurance escrowed, to which the response has been they show the loan previously had an escrow for home owners which is not the case. ( XXXX only escrowed for flood ). On XX/XX/XXXX received a letter from PNC that indicated they would remove the home owners insurance once I paid them {$2900.00} which is actually more than they paid out in error on the homeowners insurance and signed documentation requesting to remove the escrow for homeowners. Additionally the letter indicated the new payment would be {$1500.00}. Which is not correct, the loan is supposed to be a 30yr fxd with a P & I payment of {$1100.00}. The flood premium is {$970.00}. Which means the total payment should be {$1200.00} approximately. I contacted PNC again, to which the response was send in {$2900.00} and they will then review the loan to determine the payment. I sent on XX/XX/XXXX to PNC cashiers check for {$2700.00}. I do not see why I would send them more than the amount they sent out in error. I contacted PNC last week, to which the response has been they have not processed the review of the loan. I do not know if it was because it was not the {$2900.00} they requested in their letter or because I am not willing to sign additional documentation requesting they remove escrow for home owners insurance that should have never been set up.

Company response to consumer: Closed with explanation