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Good or Bad about PNC Mortgage?


A little Background of PNC Mortgage

For those who are looking for a mortgage, here is the introduction to PNC which happens to be the mortgage financing subsidiary of PNC Bank, National Association. It is a member of Federal Deposit Insurance Corporation (FDIC) and whose parent company is PNC Financial Services Group Inc (NYSE: PNC).

It can consider a big mortgage institution in the United States. Back in 2008, National City was bought over by PNC Financial and National City Mortgage was then renamed to PNC Mortgage. This kind of buy-off made PNC turn into the top 10 mortgage institutions and loan providers in the United States.

PNC Mortgage

PNC Financial Services are merged together over 90 National City mortgage operating companies right into two where one is located in Pittsburgh and the other one is located in Chicago.

The financial institution is only preserving their residential mortgage loan servicing operation in Miamisburg, Ohio. With such operation taking place, it has creates some great news for virtually every jobless mortgage individuals in the states of Pittsburgh as well as Chicago.

Services Offered by PNC Mortgage

Services and loan types that provided by PNC Bank including Fixed Rate Mortgage, FHA Loans, No Mortgage Insurance, Interest Only Loans, Extra Low Payment ARMs, Jumbo Loans, and VA Mortgages.

PNC Mortgage is featured with resourceful customer service center and a wide-range network of local divisions and branches to provide necessary services for customers.

They are dealing with problems and complaints of scam/fraud and also recommend essential remedial actions. If you are not free to visit any of the branches, you can also call them up as there is a 24-hour automated phone line available.

You can dial their toll-free at 1-800-822-5626 and you may get someone on the phone to answer all your queries related to your account and tax information.

Online Payment Options

PNC offers a variety of online payment options such as PNC Mortgage Speedpay, Electronic Funds Transfer and PNC Online Banking. Speedpay making it possible for you to pay your mortgage from any account even accounts at other banks also able to proceed.

Electronic Funds Transfer is where you are able to pay your mortgage via Electronic Funds Transfer (EFT) from any account even accounts at other banks. While another option is you can pay your PNC Mortgage online via the PNC checking account simply with few clicks of the mouse.

For non-online PNC Speedpay payment options, you can pay your mortgage by transferring funds and credit cards through a phone call or via sending mail.

Speed Pay Your Home Loan

Sometimes the days of the month can slip away very fast and many people are getting fine due to late payment. In order to solve the issue, PNC Mortgage has added a convenient option to their Helpful Answer Line (HAL).

If you notice that your home mortgage monthly payment is due soon, you will not need to panic about late charges and caused a negative impact on your credit score.

Now, you are able to make your mortgage payment in time instead of using overnight mail. What you can do is calling HAL, select the PNC Mortgage Speedpay option, and then make the payment from your checking account via phone.

Besides, PNC Mortgage makes it available with a quick and easy dial-in option which can provide even more convenient for you to make your mortgage payments.

You can just dial HAL number at (800) 7369090, choose Option 1 for automated account information, enter your 10 digit account number, and select Option 2 for Speed Pay.

Get your bank information ready and follow these steps when prompted: –

  • Step 1: Enter the last four digits of the primary borrower’s social security number.
  • Step 2: Enter your bank’s ABA routing number (A)
  • Step 3: Enter your checking account number (B)
  • Step 4: Enter your check number for payment
  • Step 5: Enter your home loan payment amount

After that, HAL is going to repeat all of the details you have entered, ask for your confirmation, and verify completion of the transaction. Your bank statement will serve as your receipt and proof that your transaction was completed. To keep all the records, make sure you void the check number used and eliminate your own personal check.

To get same day service, you may just complete your Speed Pay transaction by 7:00 p.m. Eastern Time. Each transaction will require you to pay for $8 fee. The fee will be added to your check amount, which is far less than what you will pay for most express or overnight mail.

Thus, the next time you are rushing to make your mortgage payment, you can simply choose Speed Pay which is a simple, affordable, same day option to pay your mortgage payments on time.

PNC Mortgage – “Home Equity” Loan

PNC is now having an online resource to assist their consumers in making decisions on choosing mortgage loans, refinancing their current mortgage and evaluating the advantages of credit line or a home equity loan.

Consumers can simply go to their website and punching through the online mortgage calculator to figure out the amount of the housing price that they are eligible. Besides, they can also make a comparison on the credit line or home equity loan to figure out which credit is most suits their requirements.

PNC mortgage came out with straightforward consumer experience to assist their customer to make the application easier when they want to get a mortgage, home loan or refinance.

This is especially good news for those who are first-time homebuyers and want to determine the borrowing options that they have. It is also good for homeowners to determine the ideal time to refinance.

PNC help in Small Business

The company runs a prominent network bank in the financial field and is currently ranked as one of the top-ten Small Business Administration financial institutions.

PNC mortgage is dabbled in credit card business via keen marketing and providing credit cards to small business as well with the MasterCard brand with the use of third-party merchant, Minneapolis-base U.S. bank, to deal with its credit card business.

PNC is able to provide small business owners who are having accounts with PNC bank the ability to allow their customers to pay through credit cards.

Tax Information and Escrow Accounts

For tax information, consumers should understand that the Department of Housing and Urban Development (HUD) actually controls the escrow accounting procedures with the implementation of the Real Estate Settlement Procedures Act (RESPA).

Therefore, any alteration in your monthly payment will cause increases or decreases in your home’s insurance premiums, assessments, or taxes. A rise in any of these indicates that the amount paid through your escrow account has been more than the amount previously collected and can cause a deficiency.

This deficiency is distributed across a minimum of 12 months period of time and put onto your new escrow payment. In case you want, you can just pay the deficiency in full amount with the use of a coupon that attached to the Escrow Analysis Statement.

Should your home loan just isn’t escrowed for tax payment by means of PNC Mortgage, you will have to pay the amount due that come with your bill to the taxing authority.

In case your home loan has been escrowed plus the government tax bill you received hasn’t been paid, you can write your home loan number and send to PNC for let them carry out the necessary step to help you.

Some negative feedbacks from visitors:

First case from Jodie

Just want to tell you something that you may not know about PNC mortgage. For the private investor policy of the PNC, they can make everything late for you to have anything done and then refuse to take your payment.

I have been forced to agree to their repayment plan that I have to pay for pre-charged late fees and they still having kicked out different modification each time I made a payment for 3 years consecutively which is really insane. Now I’m frantically seeking help from this deceptive mortgage loan.

I do think by law PNC need to reveal who is the real investor. I’m trying all the possible ways to obtain this information and PNC claimed they don’t have with them. It’s of a high probability that the mortgage loan has been securitized, so PNC shouldn’t have any legal right for the foreclosure of my house.

Thus, you shouldn’t move out of your house in this case. You can simply show the note to them and they can’t do anything to you because the mortgage I have was bundled into packages and trade on the stock market.

I have found a lot of useful information throughout the 6 years of fighting for the PNC mortgage. Finally, I won the case. I would just say screw PNC as they have been created a lot of trouble for me, they were trying to destroy my credit score and take over my home, but I won, I defend my home in good shape. Thank God.

Second case from Jessica

I so regret going for PNC mortgage as this company is making my life more painful. I go through a full 2 years of horror where PNC was full of deception and threaten. This is really bad for me as there is absolutely no way for me to get a hold of this company.

At last, I chose to take the CH13 which is the strategies they implement to our hardship. PNC mortgage never wants to make any conversation with me only until I’m in arrear for my payments. They then collect more than $250 in late fees for more than 2 years.

PNC doesn’t want to get any payment except if I accept their repayment plan with pre-paid late charges of about $2,200 per month. I refused for the proposal and my credit score was having a great dip. I would think the whole process is made up of infringement, and it is not possible for me to look for a settlement.

The home was mine before I made any deal with PNC mortgage but now at the time for me to get near retirement. I’m facing the possible loss of my home. I would urge anyone who can provide legal help can assist me in fighting against these frauds. I’m really helpless now.

Third case from Brandon

I was unemployed for 6 months and was unable to make my mortgage payments. I proactively informed PNC on the situation I have and trying hard to come up with partial payments, but they are cruelty inform me that their company policy is no partial payments acceptance.

I tried dealing with PNC and I do recommend to them for a loan modification which they rejected the idea. They then came up with an amount for us to do the settlement, we managed to borrow the asking amount one day late and they refuse to accept and informed us they have begun the foreclosure process of my house!

The initial amount was about 12, 000 and now they are asking for 26, 000 in order to cease the foreclosure process! I just feel PNC mortgage is having no mercy at all and they just want to hunt down those who are in miserable.

If you are interested in applying for PNC mortgage, you can screen through their “terms and conditions” first at the PNC website to know better detail before applying for the loan.

You may also interested to find out another lender – Churchill mortgage.

Warren Paine

Warren is the senior mortgage loan officer who has worked in mortgages and loan industry since 1995. He study in Harvard and major in Finance with a Bsc. Honor Degree. He possesses a Paralegal Certificate as well.

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