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How Does It Work?
|PNC Online Banking||With the Transfer Funds feature you can schedule payments from PNC accounts or accounts at other banks. Or use Online Bill Payment to set up a payment from a PNC checking account.||Free|
|Automated Payments||Pay your mortgage with automated payments from any account, including accounts at other banks.||Free|
|SpeedPay||By logging into your account online or calling PNC Mortgage, you can make an immediate payment.||$7 or free from a PNC account|
|Mail Your Payment||Write your loan number on the appropriate documents and mail them.||Free|
|In-Branch Payment||Payment is accepted in many PNC bank branches during normal branch hours and is effective as of the date payment is made, although it may take up to 2 business days for the payment to be reflected on your account.||Free|
|Bi-Weekly Automated Payments||A draft in the amount of half of your monthly payment is made every 2 weeks and held in escrow. A payment is applied after there are sufficient funds to make a complete payment, resulting in 13 payments being made in a year.||Free|
Single family dwelling mortgage loans secured by a primary residence and closed after July 29, 1999 are covered under the Homeowner’s Protection Act of 1998 (HOPA). The Act gives customers the right to request PMI deletion once the Loan to Value (LTV) ratio reaches 80%. Cancellation will automatically occur when the loan reaches an LTV ratio of 78% under its original amortization schedule, provided all loan payments are current.
If you feel your loan qualifies for PMI deletion, please send a written request to the PNC Bank address listed below, so your request can be reviewed accordingly. PMI deletion requires a good pay history: no payment may be 30 or more days late in the past 12 months, and no payment may be more than 60 or more days late in the past 24 months. You may be responsible for the costs of an appraisal.
Attention: PMI Department B6-YM13-01-5
PO Box 8736
Dayton, OH 45401-8736
Or call the Customer Care Team at 800-822-5626
You may pay the shortage in your escrow account using the coupon attached to your escrow analysis statement. Upon receipt of the escrow payment shortage, we will adjust your payment to reflect the lower payment amount. If you choose not to pay the shortage, the shortage will be divided by 12 and spread over the next 12 months payments, interest free. In either case, your mortgage payment will be adjusted to reflect the new amount. If you currently use a coupon book for remitting your payment, a new coupon book will be sent to you within 15 days of the original escrow analysis. However, if you’re interested in setting up electronic payments to avoid writing a check and paying postage, learn how to enroll in the Electonic Funds Transfer (ETF) Program.
An increase or decrease in your payment may be a result of an increase or decrease in your property taxes and/or insurance premiums and may result in an escrow shortage or surplus. An increase or decrease in your taxes may be due to a property reassessment, a change in the tax rate, a change in an exemption or a special assessment.
Unexpected events may impact your ability to make your mortgage payments. We understand and we're ready to help discuss how you can get back on track.
Life changing events impacting your finances can occur. A few examples to consider are the following:
The first step is to contact us to discuss your personal situation. This will allow us to provide you with the right loan options to meet your needs and get you started on a mortgage assistance plan that’s right for you and your family.
If you are having trouble making payments call: 1-800-523-8654
Once logged into Online Banking start realizing the many benefits, including:
Alerts when payments are received:
Monthly Statements & Escrow Statements:
Year-End Tax Statements:
24-hour Automated Account Information is available 24/7, 365 days a year.
Monday-Thursday, 8am-9pm ET
Friday, 8am-5pm ET
Saturday, 9am-2pm ET
Request of Information: To assert an error or to request information regarding your account, you must submit the notice of error or request for information in writing to: PNC Bank, PO Box 8807, Dayton, OH 45401-8807.
New York Borrowers Only: You may file complaints and obtain further information about PNC by contacting the New York State Department of Financial Services Consumer Assistance Unit at 1-800-342-3736 or by visiting the Department's website at WWW.DFS.NY.GOV.
There may be fees for certain optional services in Online Banking.
All SpeedPay transactions will require a $7 transaction fee, unless payments are made from PNC Bank accounts or are otherwise restricted by state law.
PNC is a registered service mark of The PNC Financial Services Group, Inc. (“PNC”). All loans are provided by PNC Bank, National Association, a subsidiary of PNC, and are subject to credit approval and property appraisal.
©2020 The PNC Financial Services Group, Inc. All rights reserved. PNC Bank, National Association. Member FDIC
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