Consumer complaint received 2017-09-05 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Trouble during payment process — 
Company: PNC Bank N.A.
State: SC

Complaint narrative:
I am hereby filing a complaint against a financial institution the Consumer Financial Protection Bureau is already very familiar with - PNC Bank. Let me begin by stating that as a consumer I am appalled such large-scale borderline and in many cases overt criminal enterprises ( XXXX XXXX being a recent example ) continue to operate nationwide with apparent immunity, exploiting the false credibility the term Bank implies while exhibiting total disregard for the lawful rights of those who must conduct business with them either voluntarily - the consequence of poor choice, or involuntarily - the ramification of unfair market practices. Mine, is a case of the latter. 

On XX/XX/XXXX, I closed on a home which, as with most Americans, was the culmination of much hard work and financial diligence over many years. I did everything exactly right from the beginning of the process : establishing an excellent credit score, eliminating other debt, researching the value of available properties, insuring affordability, and overcoming all the multiple obstacles necessary to qualify for a mortgage and complete a purchase transaction. Unfortunately, only eight months and eight payments later, I am now dealing with the third and most incompetent mortgage service provider since the loan was originated. PNC Bank acquired my account as of XX/XX/XXXX, and issued their first Escrow Account Disclosure Statement on XX/XX/XXXX obviously without ever investigating the correct anticipated County Tax amount due for the current year XXXX. Instead, these financial experts based their escrow projection on the exact dollar amount of {$4300.00} paid to the county by the previous owner for XXXX when the property was recorded as a secondary instead of primary residence. That amount is {$2800.00} more than the current assessment from the County Auditors Office for XXXX of only {$1400.00} now that the property has been approved for a lower primary residential tax rate. The substantially inaccurate statement from PNC Bank declares both an unjustifiable escrow shortage of {$2600.00} and indicates a needlessly recalculated monthly payment of {$1900.00} due beginning XX/XX/2017 that is {$450.00} higher than the current one of {$1400.00}. In addition to a considerable monthly payment increase, PNC Bank also proposes sending the alleged shortage amount of {$2600.00} to them within 15 days as if collecting on a delinquent account, even though I have only been a customer long enough to make a single mortgage payment. I have absolutely no intention of entrusting any funds to the unprincipled management at PNC Bank beyond what is valid to cover escrow disbursements to the designated payees based on the appropriate amounts required. 

Repeated attempts to : 1 ) communicate there is an issue with the initial Escrow Account Disclosure Statement, 2 ) submit documentation to support the invalid distribution projection, and 3 ) simply obtain some form of acknowledgement regarding efforts to resolve this matter have been extremely frustrating and thus far have yet to yield any response or willingness on behalf of PNC Bank to fulfill their obligations as the present mortgage loan service provider. However, what this dilemma and PNC Bank have done is cause undue emotional duress and anxiety for me at a time when I should be enjoying time in a new home - something an incisive representing attorney will be taking into consideration should this complaint not expedite accurate revisions to my escrow account statement and more formal litigation becomes necessary.

Company response to consumer: Closed with explanation