My husband and I purchased a home and closed escrow back in November 2012. Before closing we were told that the mortgage currently on the property was a non-qualifying assumable loan. I questioned this because I had worked for years in the escrow/mortgage industry and know that those kind of assumptions are almost non existant since the 1980's. I repeatedly asked everyone involved, the realtors, the seller, the lender if this was a non-qualifying assumption. Everyone assured me that PNC stated it was indeed.
Curiously, PNC refused to send out ANY paperwork to our escrow company before closing. I thought this was odd. Most assumption packages are done before title passes. Again I was assured that is the way PNC does it, and not to worry.
We closed escrow in mid November, 2012, and since then it has been a nightmare. The assumption package that PNC sent to us asked for two documents that would in effect make this loan a QUALIFYING assumption.
They want access to our tax returns and they wanted copies of our social security cards to prove our identify.
We refused to give them these two documents. Access to our tax returns is unnecessary on a non qualifying assumption and moot. None of their business. If we felt comfortable giving out that information we would have gone and gotten a new loan in the first place.
Social security cards are not supposed to be used for any sort of identification. It says so right on the card. Federal Law does not require that any company ask for this. One of the reasons we have so much identity theft is because people give out their private information without a second thought as to who will have access to it.
When Rose Ann Jackson at PNC repeatedly refused to finish the assumption and put the loan in our name, I asked for the email of her boss. She gave me that and I wrote a complaint to her boss -Crystal Carter-Rhodes. Ms Rhodes did not respond to me for a month and only then when I continually asked Rose Jackson to have her respond. I got a brief email saying that Rose would get back to me after my problem being sent to the legal department.
Rose called me on January 30th stating that the legal department refused to respond as well. I asked for a name. She refused to give me one, with no explanation as to why or any further information other than if I do not sent her the two documents I will essentially being "renting" from the seller. This is of course absurd, as title has passed, the deed has recorded and we own the house.
In short, it has been almost three months, after repeated emails, phone calls and requests, and still no service, name change or response to my concerns and questions. Our homeowners policy was rejected by them because it had our name on it instead of the seller. The seller we purchased our property from is now being harassed by PNC and threatened that they will force place insurance on the property due to non compliance. So basically, they are blocking all attempts by us to comply with the terms of their own mortgage which requires homeowners insurance to be in place on the dwelling.
I am retired but worked in the industry as a professional for many years and in all that time I have never experienced such a lack of customer service, professionalism and basic human courtesy as with the folks at PNC Mortgage. Since my dealings I have gone online and found complaint after complaint about this company as to their horrible relations with their customers.
We have an appointment with our legal counsel in a week to see what can be done about this issue. If necessary, sadly, we will bring a suit against PNC Mortgage. all because all I wanted was an answer and a response as a customer which I have yet to receive to this day.
In the meantime PNC have been cashing our mortgage payments and taking our money without giving us anything in return. They are creating a reputation that sadly many banks and lenders have today-one as a rapacious, uncaring, hardnose predator.
I do not know the outcome of this, as I have yet to speak to legal counsel, however I will say this. Run away from PNC. Do not deal with them.
Jim Rohr are you listening? Do you care? Are you aware of what your company policies do to people and the stress they cause your customers. If so, and you do not care, eventually someone will force you to. Maybe someone will file a class action law suit against you for your unscrupulous business practices. I hope I live to see that day and justice is served.