Consumer complaint received 2018-10-10
Product: Mortgage — Conventional home mortgage
Issue: Trouble during payment process — 
Company: PNC Bank N.A. (GA)

I am including the text I sent to PNC Bank that Cc'ed XXXX XXXX, my wealth manager, my mortgage broker and contractor. This email explains my difficulties. I sent the email on Friday and to date, have heard nothing back. I tried to give them a reasonable amount of time to respond so we could handle this between guys with no response. The local banker received this and forwarded this on, and they have had no response from their Mortgage Department either. Our initial meeting with the bank was on XX/XX/XXXX when we first submitted our paperwork with a branch employee. I had email correspondence with them on the XXXX, XXXX, XXXX, XXXX, and XXXX, as well as phone calls on the XXXX, XXXX, XXXX, and XXXX. My last meeting with the branch was on XX/XX/XXXX. 
The number I was given to contact the director of the mortgage division was a non-working number. 
If they will speak with me about financial reimbursement, I will provide all relevant documents. 
Thank you for your assistance in this very serious matter. 



Good morning XXXX, Thank you for your support yesterday in trying to help resolve my financially taxing matter with your Hazard Loss Division. I will be contacting XXXX, who you spoke to and stated was the manager of the division where we were seeking resolution. As I stated, this situation has cost me in more ways than just inconvenience. Financially, it has placed an undue strain on our household and my ability to conduct my businesses. I am Ccing XXXX XXXX, my contractor, my  Wealth Manager, and Mortgage Broker about this matter, and I was informed by my Broker to contact the Georgia Department of Banking and Finance. I would rather not go that far, but will if I have to, not just due to my struggles, but also prevent this from occurring to someone who is not in as fortunate a financial state as we are. At this point, I feel that the tactics used by your Hazard Loss division have been obstructionistic and totally negative to the experiences of a customer, as well as detrimental to my ability to return our house back to an optimal living condition. 
I have spent countless hours trying to resolve this issue, and even after my time at your branch yesterday, while you were on the phone on our behalf, was late to my office for my client. I understand that you and your branch manager have unsuccessfully advocated for a resolution to this matter, and I am not holding you responsible for my current condition. I am holding your Hazard Loss Division responsible. At this time, PNC is holding more than {$78000.00} of claim funding provided by XXXX XXXX that was designated to repair our home after a major loss. Do I understand the need to mitigate fraud by setting up policies and procedures to prevent fraud and manage the repair of a home to its previous state to protect the value of a banks investment? Absolutely! However, I also strongly believe that those XXXX XXXX XXXX should not cause undue stress and financial peril to the homeowner or a Contractor, when the insurance company has done their part to help care for the needs of their clients. 
To date these are the many, but not all of the issues that I have encountered : - I was requested to provide additional documentation after our first submission, and sent that in a timely manner. Even after sending this, our file was not updated. Hence, I was in direct contact with XXXX XXXX through your bank manager on XX/XX/26 and sent duplicates of the requested info, and also inquired with him via email on Friday, the XXXX to make sure the Is were dotted so that we would receive our check. After sending the update email to XXXX, I never received any information back and thought that everything was in line. 
- In order to keep the reconstruction process timely, I have paid for materials in advance, including Flooring, Tile, and covered the cost of additional expenses including floor demo, insulation and mold remediation ( I want my house back in order. Two floors of furniture in our house are in storage, and we have no kitchen ). I fully expected to be reimbursed in a timely manner, given that the money was provided to you, and we had completed the necessary forms, and verified that with the Bank Manager, who was on the phone with the Hazard Loss Department to confirm amounts to be put on forms. 
- I was told both that I needed an inspection and then that one would be required at 50 % completion, before any funding would be distributed. This inconsistency in what was communicated caused confusion. At this time we are at 50 %, and on Tuesday, an inspection was performed. 
- I had a large business transaction at the end of the month that I had earmarked funds for that were no longer available, due to my outlay of cash. As a result, I had to sell stock from two accounts to insure that I had the necessary funds and could insure that I made that payment on time. 
- Due to snags in money transfer and selling my stock at the XXXX hour ( one account lost almost {$6000.00} because of the need to prematurely sell the stock ), it caused an additional financial stress on our household, and hours of time for me to arrange the sale, contact our wealth manager,  and work with two banks to complete the transaction. At the time of this writing, I have asked my wealth manager to calculate the financial impact of the premature sale of our stock. 
- As a result of this situation, I was late on my payment on this business transaction, however, the recipient of funds was understanding of the situation, and I did not incur any penalty. 
- This last obstruction in payment was caused when there was a {$3000.00} discrepancy between the XXXX XXXX {$93000.00} on the adjusted claim estimate and what was on the Contractors XXXX XXXX XXXX {$90000.00}. In the call with your Bank Manager and XXXX XXXX, we confirmed the amount to write into the estimate to insure its accuracy. Therefore, the error was due to PNC Hazard Loss, not me, nor my contractor, nor your Bank Manager. Yet, I am, once again penalized, and when on the phone with your rep at the Hazard Loss department in a call on Wednesday, his only comment to this was that There are no notes in the documentation that you were told what to write on the form. When I asked to escalate this, I was told that he would contact a supervisor, and I could expect a call in 24 to 48 hours, but that the check would not be sent and the review process would be ( I believe he said ) an additional 5 business days. 
In your office yesterday, as you worked diligently to resolve this, you attempted to handle this with XXXX, in XXXX. Even in explaining my troubles and difficulties and trying to get a check overnighted, she still balked at that and stated that the earliest this could be handled was Tuesday. I am confident that someone there had the power to overnight a check, and as you know, I was beside myself and am still in disbelief of this entire situation. While I will not speak for XXXX XXXX, I can not believe that they expect funds provided to a customer to require such laborious efforts in order for a customer to be paid out to insure a reasonable recovery of lost property. This situation is resulting in a protracted time to return our home to a state where we can move our furniture back in, and as a result, XXXX XXXX is impacted by the amount they are paying for the safe storage of our furniture. 
I have full confidence that you and your Bank Manager understand my level of frustration, helplessness, mistrust and anger with this situation that has transpired. In my discussion with you yesterday, I had presented a reasonable solution for your bank that would have been a win-win. That was for your bank to provide the first draw, while asking that I correct the incorrect amount on the XXXX XXXX before another draw would be provided. The way the situation has been handled, in my opinion, has had nothing to do with customer service, and at this time, I am searching for other options for our mortgage. Also, please keep in mind that positive customer experiences often result in a person telling 3-5 people, while negative customer experiences often result in an individual telling more than 10 people., and with social media, a single comment can reach countless millions. I dont provide this information as a threat, but as data to consider when working with your most important asset, your customer base. Trust me, however, that I am communicating my experience as a Buyer Beware. 
Since the end of XXXX, my wife, daughter and I are living in our sunroom and bedrooms due to the damage to our home. I cant imagine that, you, your bank manager, manager of your Hazard Loss Division, nor the CEO of PNC would stand for the experience that we have had. This is untenable. I fully expect there to be a review of this situation and a change in your P & P to insure that this does not happen to anyone else. I know that you can understand that time is precious, especially when trying to get a familys lives back to normal after an experience such as this, and we have had little to no respect for our time and convenience. 
For my wife and I, a successful resolution would be : - a reimbursement or compensation of lost funds in our investments ( still XXXX per my wealth manager ), - an immediate distribution of all funds provided to your bank back to us, since we have no trust in your Hazard Loss Division to provide reimbursement in a reasonable timeframe, - a reimbursement for my time and effort that that it has taken me to, not only to handle this issue, but also lost time to my wealth manager and me to arrange the sale of stock and transfer of funds to make the business transaction. 
- I trust that you will forward this letter to all relevant parties within your organization. I fully expect to hear back on my resolution requests. In addition to this, I am directly contacting my XXXX XXXX Agent an Adjuster, in addition to the CC on this email. 

Thank you for your attention to this very serious matter.