Consumer complaint received 2025-09-25 00:00:00
Product: Mortgage — Home equity loan or line of credit (HELOC)
Issue: Closing on a mortgage — Changes in loan terms during or after closing
Company: PNC Bank N.A.
State: TX

Complaint narrative:
I am writing to formally lodge a complaint against PNC Bank regarding its failure to honor the terms of my Home Equity Line of Credit ( HELOC ), originally agreed upon with XXXX, and its continued disregard of multiple written and verbal requests for correction. 
Background : Original Agreement : My HELOC was initially set at an interest rate of XXXX XXXX XXXX. 

Amendment : A signed addendum later adjusted the rate to XXXXXXXX XXXX XXXX, which I accepted and adhered to. 

XXXX Modification : During the pandemic, I accepted XXXX  offer to modify the loan to a fixed 3.5 % principal and interest structure. I faithfully made payments under this agreement for over XXXX years. 

Issue : Without prior notice or consent, PNC reverted my interest rate to XXXX XXXX XXXX  and changed the loan back to interest-only, in direct contradiction of both the signed addendum and the XXXX modification. This unilateral change constitutes a material breach of contract and has resulted in significant financial harm. 

Despite providing proof of the modificationincluding the signed addendum and corresponding bank statementsand despite multiple written and verbal attempts to resolve the matter, I have received only dismissive responses and no meaningful resolution. 

As documented in the attached addendum, the agreed-upon interest rate is Prime minus 0.5 %, with a further provision that if a withdrawal exceeds {$50000.00}, the applicable rate becomes Prime minus 1.0 %. I met this condition, yet PNC has failed to apply either rate as required under the contract. 

In XX/XX/XXXX, I signed an agreement with XXXX to convert my HELOC to principal and interest payments at a fixed rate of 3.5 %. XXXX placed me under a three-month trial period and then made the fixed rate permanent, as was common for COVID-era hardship programs. From XX/XX/XXXX through XX/XX/XXXX, I was charged this 3.5 % fixed rate. When PNC acquired XXXX and assumed my note, it unilaterally changed the loan termswithout cause or noticereverting the rate and payment structure. 

Disturbing Response from PNC : In a recent conversation with XXXX XXXX, a representative from PNCs Executive Office, I was told that it was my fault that PNC is not honoring the terms I agreed to with XXXX. She claimed that PNC is not obligated to honor either the signed modification or the addendum, despite the fact that PNC assumed the note and is now collecting payments on it. XXXX XXXX further stated that I should have handled this issue with XXXXdespite XXXX no longer servicing the loan. 

According to her, PNC can collect under the agreement but is not required to perform the terms of that same agreement. This position is not only legally indefensible but also completely illogical. The idea that a bank can collect payments while ignoring the contractual terms it inherited is absurd, and blaming the borrower for its own failure to comply with a legally binding agreement is both unprofessional and outrageous. 

Summary of Concerns : PNCs failure to : Apply the XXXX XXXX XXXX rate as agreed ; Implement the Prime 1.0 % rate following a qualifying withdrawal ; Acknowledge the XXXX fixed 3.5 % modification ; and Perform under the agreement it assumed from XXXX, constitutes a pattern of bad faith, selective enforcement, and possible violations of consumer protection laws.

Requested Resolution :

Company response to consumer: Closed with explanation