Consumer complaint received 2023-11-10
Product: Mortgage — Conventional home mortgage
Issue: Trouble during payment process — Loan sold or transferred to another company
Company: PNC Bank N.A. (CO)

Loan transferred from XXXX XXXXXXXX XXXX  ( XXXX ) to PNC Bank effective XX/XX/23. 
Received letter in the mail from XXXX on XX/XX/23 of notice to transfer and that payments are due XX/XX/23 to PNC Bank. On XX/XX/23 I contact PNC bank at the number provided in the XXXX letter to ensure I pay my mortgage on time on XX/XX/23. PNC tells me there is no way for me to pay my mortgage to them until XX/XX/23 and that at that time I could go online and put in the new loan number ( provided in the XXXX letter ) and pay online then and not to worry because there would be no penalties for 120 days on this loan transfer. On XX/XX/23 I go to pay my loan online and the loan number is not working. I call PNC on XX/XX/23 and XXXX explains that these loan transfers sometimes are problematic but after a while we get it figured out and I make my payment. I also discuss with XXXX a letter I received on XX/XX/23 that says in order for my automated payment process to continue I had to sign and return a form in the mail. He said that is necessary to continue the auto deduction and unless I signed that authorization and returned it to PNC the auto payment I set up with my previous mortgage company would not continue. I asked if I could just set up auto pay on my own online after this initial payment is made for XXXX, and he said yes. I then made my payment online on XXXX with XXXX 's help. I also felt confident that I could set up the auto pay, if I want, going forward. Then on XX/XX/23 PNC processes an additional XXXX unauthorized automated payment deduction for another loan payment. I get an alert from my bank that I am overdrawn on my checking account. I call PNC immediately around XXXX MT. I speak with XXXX who is truly trying to help me but per PNC policy she says, we made a mistake and that she would escalate the situation to try to get me my money back. I said just reverse the transaction and we would be good. XXXX hours later and no response from PNC, I call back to XXXX who is still waiting on a reply from the escalation. I told her I am in a dire situation. She just said I am sorry but these escalations typically take XXXX hours. I asked if I could talk to a supervisor to further escalate, but I was told that was not an option. PNC then said that they made a mistake but they could not reverse the transaction without my bank providing something to them that required me to physically go my bank, and then after that PNC then would need a letter from the bank about something that I did not understand. I said why? You took the money without authorization why do you need authorization to reverse it from my bank? I was told that is the PNC process. It is interesting that they can take the money from me without my banks or my authorization but they need some kind of authorization from my band to give it back. I would love to understand that policy. I explained to PNC that I could not wait a week or maybe longer to get the money they took from me without my authorization. I asked why could they not reverse the unauthorized withdrawal as fast as they were able to make it. They said that was there policy. I tried escalating to no avail. I said how do I go to the grocery store to by food with no money and they said I am sorry. They would need a letter from my bank before they would refund the money that took with from me that PNC admitted was not correct. I asked how could that happen today. I was told it could not. I did tell them on the phone that I was charging them {$1000.00} a day interest for the loan and they laughed at me. they said that is their procedure. I told them in my opinion you stole money from me. I would like to charge them for theft if possible. I sit here going into the weekend with no ability to pay for anything unless I tap into investment accounts. I am so stress out I am not sure what to do. How is this allowed. If I went into PNC bank and took money from them that was not authorized, I would be arrested for bank robbery. How do I arrest or charge PNC for the theft from me? I absolutely would like to charge them for theft.