Consumer complaint received 2016-03-27
Company: PNC Bank N.A.
State: IL
Product: Mortgage
Sub-product: Conventional fixed mortgage
Issue: Loan modification,collection,foreclosure

Complaint:
I am just an individual person fighting financial institutions, the " too big to fail '' organizations. They have paid lobbyist and billions of dollars, so they usually get away with most things. 
Per the FHFA, The foreclosure process may not commence if the borrower and servicer are engaged in a goodfaith effort to resolve the delinquency. The servicer must conduct a formal review of each case to ensure a borrower has been considered for foreclosure alternatives before the loan is referred for foreclosure. Even after foreclosure processing begins, financial incentives are provided to encourage servicer to continue to help borrowers pursue a foreclosure alternative. 

The only reason that I did not qualify for the MyCity Mod, initially was because PNC used a BPO appraisal of {$360000.00} to determine the value of my home. This inflated value along with PNC 's and XXXX XXXX 's delay in correcting the value resulted in improper fees and improper Streamline Modification payments. Incidentally, the XXXX XXXX could have started on the 91st day of me becoming delinquent since it requires no documentation. A BPO is based on an opinion. The Assessor 's office along with an XXXX are based on facts I disputed the value for my home for months with PNC. They refused to change it. I then filed numerous complaints with : XXXX XXXX, XXXX XXXX XXXX XXXX Department, XXXX XXXX XXXX XXXX Department, XXXX XXXX 's CEO, XXXX XXXX 's Board of Directors. Each office either ignored me or gave me the run around. After numerous months of contesting this value, I was informed by XXXX XXXX on XXXX/XXXX/XXXX that they would use the XXXX value of {$210.00}. 

At the time I submitted the dispute I was told to compile a list of XXXX properties that were sold in my area. I was informed that this list could include short sales and foreclosures. I was told months later told that I could not include short sales and foreclosures. Even without including the above mentioned, the value of my home per XXXX XXXX was {$210000.00}. XXXX XXXX used the average price of the XXXX to determine the value of my home. By doing so they validated that the value of my home was not {$360000.00} but instead was {$210000.00}, in their eyes. With this validation, they should not be able to deny that they charged the wrong monthly payment for the Streamline Mod. XXXX XXXX used the {$360000.00} in calculating the monthly payment for the Streamline Mod. 

The quality control tool used by XXXX XXXX found that approx. only XXXX % of its home values are not inflated. Yet, PNC still uses it. 

" XXXX XXXX 's Home Value Calibrator Home Value Calibrator ( R ) ( Calibrator ) is a quality control tool that measures the risk that an appraisal, or other estimate of a property value, exceeds the actual market value by at least XXXX percent. ... '' ) ... 
How It Works ... 
Generates a score between XXXX and XXXX to indicate the probability of an inflated value that may be used to prioritize workflow. 
Indicates whether the purchase price, estimate of value, or appraisal value might be inflated. Lower scores indicate a higher risk. '' INFLATED VALUE CALCULATIONS XXXX XXXX = XXXX = XXXX * XXXX = ( rounded off = 65 % ) If the number are correct math does n't lie. 
XXXX XXXX = XXXX XXXX = XXXX * XXXX = 204 % ( APPROXIMATE VALUE - This value was determine by taking the MLS value of {$210000.00} and subtracting the estimated cost of repairs needed to my home of approx. {$100000.00} ) I spoke with XXXX at XXXX XXXX on XXXX/XXXX/XXXX. She stated XXXX of the Escalation Department noted on the computer that, " They the agreed with PNC and are not changing the amount I owe. '' I also asked her to put how they came up with this agreement in writing and she said, " We do n't put anything in writing we only tell you over the phone. ''

Company response to consumer: Closed with explanation