PNC Bank Mortgage Complaint

Conventional fixed mortgage Loan servicing, payments, escrow account

PNC Bank Mortgage department,

Conventional fixed mortgage Loan servicing, payments, escrow account Pennsylvania

I got a mortgage from PNC Mortgage for my home. When applying for the mortgage I was told by my loan officer, - -, that I would be able to make bi-weekly payments that would be applied to the loan immediately and not sit in a holding account until the second payment arrived. I am now finding out that PNC 's bi-weekly payment plan holds the first payment in an account until the second payment is made, forming one monthly payment. Being able to make bi-weekly payments that are applied immediately to the loan was the main reason I chose PNC, but now I have learned that I was lied to. The conversation I had with - was on a recorded line and I asked him this on - separate occasions. This is the second issue that I 've had with PNC making false advertisements/claims to me on a recorded line - - call would have been around - - give or take a week ). Their actions are unethical and illegal.

PNC Bank customer in Pennsylvania
Sep 17, 2015

* Source: CFPB Complaint Database

PNC Bank response to complaint:
Closed with explanation

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