Consumer complaint received 2023-01-03
Company: PNC Bank N.A.
State: OK
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Closing on a mortgage

Complaint:
I have attempted to obtain the pay-off balance for loan XXXX since the end of XX/XX/XXXX. I have made over 16 phone calls, resulting more than 2 hours being transferred and placed on hold. In addition to this, my attorney, XXXX XXXX, has called numerous times, both being told the pay-off would be sent anywhere from 30 minutes to 7-10 days. To-date, the only documentation I have received from PNC is the attached payoff statement sent to my attorney. The additional information ( letters of pay-off ) have been sent via their collections agency.

My account was placed in forbearance as part of the CARES act. The forbearance ended XX/XX/XXXX. I have been told I could not speak to PNC regarding the loan, and that I needed to have my attorney contact PNC on my behalf. Likewise, my attorney has called and been told he couldn't speak on my behalf. I have also requested to make payments and have been told your company could not accept payments at this time. 

I was able to reach a representative who, without hesitation, accepted two payments totaling {$130000.00}, posting on XX/XX/XXXX and XXXX from my account, in addition to the {$1500.00} posted on XX/XX/XXXX. According to the Payoff Statement sent on XX/XX/XXXX, the total owed is {$170000.00}. 

PNC 's online statement for the transaction period of ( XX/XX/XXXX to XX/XX/XXXX ) Payment for the XX/XX/XXXX regular payment was recorded on XX/XX/XXXX in the amount of {$1500.00}, which was the amount due provided by your representative as the monthly payment. I spoke to several representatives asking what the pay-off amount was beginning XX/XX/XXXX as the funding was and still is available. After several additional calls, I decided to make payments to reduce the principle, resulting in a reduction of interest charged. According to PNC 's online statement received for the XXXX cycle, the {$1500.00} was not applied to the account. The outstanding principle should have reduced from {$160000.00} with the XX/XX/XXXX payment. When I received the billing statement for XXXX, the outstanding principle still remained at {$160000.00}. I made a total of {$130000.00} payments since XXXX, XXXX, however, according to your statements, none of which has been applied to the account. I specifically stated I wanted the residual payment of {$26000.00} applied to the outstanding balance and credited to the XXXX monthly payment. I paid {$130000.00} to the PNC directing them the payment be fully applied towards the principle and expected this to be completed. Additionally, the statement for the XXXX states, if the amount of {$23000.00} is paid account would be current. On your XXXX - XXXX statement it states, if the amount of {$24000.00} is paid the account would be current. This astounds me that having paid {$27000.00} the account would not only be caught up, it would have exceeded the amount due, with the residual being applied to the XXXX monthly payment amount. The XX/XX/XXXX and XXXX statement also states, the amount of {$6100.00} in escrow/impound overdraft has not been paid through XX/XX/XXXX. It was my understanding that the amount paid brought the account current, if your documentation is true, then as part of the payment due it would include the escrow amount, interest, and unpaid principal balance updated for the forebearance period, not carry forward as additional escrow of {$6100.00}. In addition, the interest needs to be adjusted against what the actual principle amount should be with the {$130000.00} applied. 

At this point, I am demanding a complete itemized detail of all charges, including application of the amounts to be applied directly to principle and the payments made for XXXX & XXXX month installments. I am also expecting the interest charges assessed be corrected to reflect the actual amount against the correct principle. The corrected escrow owed, which should be XXXX for the current year, as it was paid on XX/XX/XXXX, no later thank Thursday, XX/XX/XXXX.

Company response to consumer: Closed with explanation