Consumer complaint received 2020-06-19
Company: PNC Bank N.A.
State: DC
Product: Credit reporting, credit repair services, or other personal consumer reports
Sub-product: Credit reporting
Issue: Problem with a credit reporting company's investigation into an existing problem
Sub-issue: Problem with personal statement of dispute

Complaint:
PNC Customer Service Research Department XXXX. XXXX XXXX XXXX, OH XXXX PNC Mortgage XXXX XXXX XXXX XXXX XXXX, OH XXXX XX/XX/XXXX Account # XXXX XXXX I am writing this letter to file a formal complaint against PNC Loss Mitigation. On XX/XX/XXXX, I refinanced my home with PNC bank. I want it to go on record I have not been 30 days past due/or missed a payment for the past two years and six months, the time-period of my loan. My payments in the amount of {$2800.00} remained current up until XX/XX/XXXX. 

On XX/XX/XXXX, I applied and submitted an application for the ( COVID-19 ) Corona Virus Aid Relief & Economic Security Act ( CARESACT ) Forbearance Plan, a new federal law to help consumers who are experiencing financial hardship making payments during this economic pandemic. ( see attachment # 1 ). This new Federal Law ( CARESACT ) protects consumers from negative information being reported to all major Credit Bureaus mortgage relief or assistance related to the COVID-19 emergency during the forbearance process. 

During the period covered by the CARES Act, the CARES Act requires your mortgage ( PNC ) servicer to report your account as current if your account was current at the time of the forbearance and if you meet the terms of your mortgage relief ; or if your account was delinquent before the COVID-19 emergency, to maintain the same delinquent status. If you bring your account current during the forbearance, your mortgage servicer must report the loan as current. 

On XX/XX/XXXX, ( see attachment # 2 ) I received a letter from PNC stating my forbearance plan has been approved and during this forbearance plan my payments have been temporarily suspended in the amount of {$2800.00} for three months beginning XX/XX/2020-XX/XX/2020 and I do not have to make any mortgage payments. 

On XX/XX/XXXX, ( see attachment # 3 ), I received a letter from PNC Loss Mitigation, based on a review of the information I provided. I have been approved for a conditional Trial Period Plan. In the letter PNC has informed me beginning on XX/XX/2020-XX/XX/2020 I should make a monthly payment in the amount of {$2300.00}. On XX/XX/XXXX, I submitted a payment in the amount of {$2300.00} for the month of XXXX payment ( confirmation # XXXX ) and on XX/XX/XXXX I scheduled a payment for XX/XX/2020 ( confirmation # XXXX ) in the amount of {$2300.00}. I was told by the PNC representative who accepted my payment, I could not schedule XXXX payment until XXXX. 


( On Page # 2, XX/XX/XXXX * starred highlighted ) PNC states that all past due loans are reported to credit reporting agencies on a regular basis and my loan will be reported as past due until it is brought current. This statement totally goes against the new Federal COVID-19 Law which requires my loan servicer PNC to report my account as current if my account was current at the time of the forbearance and I meet the terms of my mortgage relief which I have. During the time I applied for the forbearance plan on XX/XX/XXXX, my loan was not delinquent. As of XX/XX/XXXX, my loan is current. 

On XX/XX/XXXX, ( see attachment # 4 ) I received a letter from PNC Customer Service dated XX/XX/XXXX, stating PNC has reported late payments to all major credit bureaus XXXX, XXXX  and XXXX. I called PNC customer service approximately XXXX XXXX  and spoke to a representative XXXX, who refused to give his last name. I explained my concerns to XXXX that PNC should have not have reported any late payments to credit bureaus based on the new Federal COVID-19 law and he assured me I had nothing to be concerned about and the letter was just an automated-generated letter that goes out when a consumer is late. He went on to say he will flag my account to make sure my credit is not impacted due to my forbearance plan is in good standing. I checked my credit report and noticed that PNC did reported my XXXX and XXXX payments as being 60 days late. 

I have attached copies of the negative reporting from XXXX  showing PNC reported my account 60 days late for the months of XXXX and XXXX along with copies of my scores from XXXX  and XXXX  showing my scores have been affected due to this negative reporting. 

I'm writing this letter because I am beyond frustrated. PNC has reported me to all credit bureaus as being 60 days late for the months of XXXX and XXXX which should have never happened. This incorrect reporting has not only impacted my credit score, but it has also put me in a state of XXXX XXXX PNC has not adhered to the federal law during this natural disaster of CONVID-19 which they should uphold. 

This should have never been reported due to me being on a forbearance plan and the new Federal COVID-19 Law prohibits the loan servicers from reporting my account as late during this process regarding if I was delinquent or current with my payments. I have met all requirements to maintain eligibility for this plan and have brought my payments current as of XX/XX/XXXX. 

During this process, I provided all requested documents to PNC to process my Trial Modification and PNC Bank is refusing to assist me in this matter. 

I am requesting my loan servicer PNC to submit a letter updating my status to " Paid on Time '' to all three credit bureaus. This derogatory information needs to be corrected with all three credit bureaus immediately. 

I have forwarded this compliant to the following ; Cc. 
* Attorney General Office ( OAG ) XXXX XXXX District of Columbia Government *XXXX  , XXXX  , XXXX  Dispute Center *Consumers Financial Protection Bureau ( CFPB XXXX *Csinquiry @ PNC *Federal Trade Commission * Mortgage Housing Assistance * American Association of Residential Mortgage I am asking for an investigation to assist me in resolving this matter with PNC bank. I can be reached at XXXX or XXXX. 

XXXX XXXX

Company response to consumer: Closed with explanation