Consumer complaint received 2023-11-07
Product: Mortgage — Conventional home mortgage
Issue: Trouble during payment process — Loan sold or transferred to another company
Company: PNC Bank N.A. (NC)

In XX/XX/2023, PNC Bank took over our Mortgage Servicing from XXXX XXXX XXXX. During this Transfer, the account/routing number was transferred incorrectly, and as a result we were required to make a manual payment, visit a branch, and reach out to their service team on multiple occasions before they would accept our original billing information as an acceptable method for our recurring payment method. This was only the first of a multitude of frustrating and time consuming interactions with PNC, a servicer we did not choose or wish to work with. It took several weeks and many attempts for them to recognize our automatic payment method. 

On XX/XX/XXXX, I received a letter stating that Hazard Insurance coverage verification was required for our property insurance to confirm our coverage. This was sent as a letter to us, and was put on us to resolve, requiring yet another call. PNC has the name of our insurance company and could have verified this themselves. I spoke to an agent who said they would confirm with our insurer and let me know- I never received a call or email to confirm. This was never an issue with our earlier insurance company. 

On XX/XX/XXXX, I received an escrow account statement including a check for {$6300.00}, leaving an {$860.00} balance in our escrow account. Our escrow total requirements were calculated on the previous owner 's reduced tax bill of {$1400.00}, leaving us without sufficient escrow balance to pay our property tax obligation of {$4300.00}. I called PNC - again - to see what to do with this - the value of the check had already been debited from our account. I was told to deposit the check into my checking account ( due to the amount I had to go in person to a branch of my XXXX XXXXXXXX XXXX to do this, taking more time out of my day ) and then to pay it back to PNC to my escrow account. I have no idea how PNC would pay into just the escrow, so I asked if I could pay the property tax directly to the city and then resolve this with PNC afterwards for the following year. I was told this was OK. 

Today XX/XX/XXXX, I intend on making the payment to the county. Out of concern/hesitancy I check the PNC account and see a disbursement was made XXXX for the property tax bill, with an " escrow advance '' from PNC of {$2700.00}. I check the county tax register and the tax bill has not been paid. I call PNC and speak to a supervisor who tells me that this is covered by PNC ( I check to confirm that this hasn't come out of the account we pay our mortgage from ) and am given a very vague answer and told to call the county myself to check on the tax status. I ask if our payment obligations monthly will be higher to account for their error to make up the {$2700.00} " escrow advance '' to resupply the escrow for next year. They don't know and apparently " are working on it ''. At this point I don't believe my taxes to be paid and I do not know what escrow payment I can expect and PNC representatives are kind but frankly unhelpful. This was never an issue with our previous servicer who we rarely spoke to and paid our tax bill at the {$4300.00} accurately and on time.