Consumer complaint received 2021-10-12
Company: PNC Bank N.A.
State: CA
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Incorrect information on your report
Sub-issue: Account information incorrect

Complaint:
I began trying to obtain a business loan to purchase and operate a XXXX XXXX  in XXXX of this year so I had my financial profile screened. They mentioned that my mortgage was showing as in forbearance. I then checked my 3 bureaus report and saw that the account was not showing on XXXX or XXXX, only XXXX and that the loan payments hadn't been updated since XXXX. There was also a remark that said the loan was in forbearance ( it was back then. It has been out of forbearance for 2 years ). 

I contacted BBVA loan servicing end of XXXX and requested that my account be updated on all 3 credit bureaus with current on-time payments over the last 2 years and the removal of the forbearance in the remarks/comments. I received a letter from BBVA dated XX/XX/XXXX that stated the correction would be made on XX/XX/XXXX. I called the mortgage servicing team to inform them that I was in the process of applying for business loans and needed this error corrected immediately. Not only was I told I would have to wait until XX/XX/XXXX before the correction would be submitted, I was told to be happy they were doing it before XX/XX/XXXX when they usually submit the batch. I work for a bank and I know they could have pulled my account up and made the correction immediately! In spite of the urgency of the situation, my request was treated as an inconvenience to them. 

It is now more than 30 days past the original request date and 12 days past the date they were supposed to submit the correction. In the letter they said to give the CRA 10 days to update their files ( FCRA says they update them immediately once correct info is received ). That was 2 days ago and I still do not see the correction. Because this account is still not reporting correctly, I have been turned down for over {$150000.00} in loans for my startup business. This has devastated me and my family and has disrupted ( and perhaps completely ruined ) our chances to improve our lives and livelihood by starting a business. 

I would like to seek damages from BBVA for how they have created this nightmare situation. I have made the down payment for the XXXX  XXXX  and now I can't get the funds to finish paying for it because of them. All of the declines I have received ( 4 so far ) show my credit score as over XXXX but cite " incomplete real estate info '' or " serious delinquency in real estate '' as a reason for the decline. 

I need answers as to why this is still not reporting correctly with the bureaus. I even attempted to dispute the one CRA that had the mortgage listed, albeit incorrectly -- XXXX before the XX/XX/XXXX correction they were supposed to make thinking this would expedite the process. The dispute came back with the payment history updated but the " account in forbearance '' error STILL IN THE REMARKS. This is what is causing the declines in my loan requests. 

I would also like the names of their mortgage department supervisor, manager and all other superiors in their chain of command so that I can write a letter to them informing them of how they have failed me. Please help me find out why this still has not been corrected. I feel like they should extend a guaranteed business loan to me ( without considering any recent hard inquiries ) because of this, otherwise I will be forced to sue them. Thank you.

Company response to consumer: Closed with explanation