PENTAGON FEDERAL CREDIT UNION

2016-08-23

Katonah, NY

Managing the line of credit

Consumer Loan: Personal line of credit

Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Disputed: No Timely Response

2016-08-23

Cheverly, MD

Making/receiving payments, sending money

Bank account or service: Other bank product/service

Complaint: 1.Theft of Mass Proportion of over about $ XXXX.Blatant disregard for the XXXX, Armed Services, actions without verification, Privacy, professional rules of conduct, and the rules of law.Favors and conduct unbecoming of all bank guidelines, concepts, protocol and authorization by me, the account holder. 2.Recovery and compensation for the suffering of myself, my family and the current threats 3.Immediate follow up and investigations per request of the financial Institution Of the Pentagon Federal Credit Union Fraud Department , Lawyers and Bank managers. of many months of complaint of the main office, Virginia office, XXXX XXXX XXXX, email, and telephone calls.I gave no one permission to make changes or act on my behalf of my life/worldly possessions.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Disputed: No Timely Response

2016-08-22

Arlington, VA

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

Complaint: PenFed artificially inflated at least XXXX fee it charged me to pay off my mortgage. The payoff statement ( attached ) listed a {$48.00} " release fee. '' No such fee had ever been mentioned in my loan application or loan agreement. When I questioned that fee, PenFed said it was a County-imposed mandatory fee. My own research revealed that the County 's lien release fee is actually only {$41.00}, and that I could submit the request and pay the County directly. See XXXX and attached excerpt. So I told PenFed to send me the Certificate of Satisfaction and I would handle the release request. XXXX refused, and insisted I pay the entire {$48.00} before my loan would be considered paid off. I paid it to prevent PenFed from dragging out my payoff ( and holding my credit hostage ) any longer, then sought a refund from PenFed. PenFed refused. Inflating fees for bogus services associated with mortgage loan payoffs seems an unfair, deceptive and abusive practice. XXXX
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with monetary relief

Disputed: No Timely Response

2016-08-19

TX

Taking out the loan or lease

Consumer Loan: Vehicle loan

Complaint: I applied and was approved for a {$40000.00} vehicle loan and PenFed completely mishandled my account to the point of my suspecting intentional manipulation. Pentagon had my {$40000.00} loan approved for application # XXXX. I corresponded with one of PenFed 's agents on the phone and he informed me that all I needed to do was submit my purchase order via fax and my loan for {$40000.00} would be approved. I thought the extra {$700.00} was odd, but I suspected it had to do with filing fees, etc. It turns out that they denied my loan the next day because the original loan amount was {$40000.00} and I increased the amount by {$700.00}. This was ridiculous for XXXX XXXX XXXX denying my loan for the additional {$700.00} on a total initial loan amount of {$40000.00} is absurd 2. A PENFED AGENT recommended the new loan amount and thus intentionally manipulated the situation into a denial. The other agents-Dylan ID # XXXX and XXXX ID # XXXX were completely incompetent while handling my situation. I now do not have the financing I need to purchase my vehicle and may lose the deposit.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Disputed: No Timely Response

2016-08-17

Bel Alton, MD

Billing disputes

Credit card:

Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Disputed: No Timely Response

2016-08-12

Newnan, GA

Closing/Cancelling account

Credit card:

Complaint: I Applied Penfed platinum rewards XXXX signature card on for XXXX/XXXX/2016 I was approved for the card 24 hours later I was declined and the reason given was application was built in error I immediately called up to find out what was going on they did n't know. The representative resubmitted the application it came back approved because were service rep said that the card would be mail in out XXXX to 10 days. I logged to my account and noticed that the account had disappeared from the Account screen. I am mediately called and spoke to customer service representative that informed me that my account was closed and could not give me a clear reason why it was close. Section XXXX of the XXXX which mandate that financial institutions verify certain information about applicants, including name, legal address, date of birth and Social Security or Tax Identification Number, while processing account application.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Disputed: No Timely Response

2016-08-10

Bda Figueroa, PR

Account opening, closing, or management

Bank account or service: Savings account

Complaint: On XXXX XXXX, 2016 I called Pentagon Credit Union customer service to learn about the mortgage and auto loan products. XXXX, the person that attended me by phone, told me that in order to apply for a loan in PenFed I had to open a bank account. XXXX told me that in order to open an account they had to review the credit report and I clearly told her that if it was a " HARD inquiry '' I did n't want to because it will affect my score and I was buying a home. She told me that the inquiry was a " Soft '' but anyway she was going to check. After a while waiting by the phone XXXX confirmed me that the inquiry was a " Soft '' inquiry and because of that I opened the savings account. These days, monitoring my credit, I discovered that indeed a " HARD inquiry '' was made by PenFed. Yesterday, XXXX. XXXX, 2016, I called customer service and talked to XXXX the supervisor and require her to remove the inquiry immediately because it was unauthorized and affected my score. XXXX told me she verified with the department in charge to see if they can remove it but they told her they CA N'T. I 'm very upset because XXXX provided me with incorrect information and because of that my credit score lowered and now I have trouble buying a property that I optioned. XXXX told me they can send me a letter notifying that the inquiry was to open a savings account and when I ask her to include that it was n't supposed to be a HARD inquiry she told me she could n't include that. That letter does n't help me eliminate this from my credit bureau and does n't increase again my score that is what worries me more. I called the credit bureaus and the told me that PenFed is the only one that can notify the error to the bureaus so they can eliminate it. If they do n't do that is going to stay in my credit for 2 years. Please, notice this was an UNAUTHORIZED HARD INQUIRY. To do this they should have a verbal or written authorization and they do n't have it. I was clear about that.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with non-monetary relief

Disputed: No Timely Response

2016-08-09

Bellflower, CA

Disclosure verification of debt

Debt collection: Credit card

Not given enough info to verify debt
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Disputed: No Timely Response

2016-08-05

Beyersville, TX

Settlement process and costs

Mortgage: Conventional fixed mortgage

Complaint: My chief complaint is Pentagon Federal Credit Union is in breach of contract for changing their policy on the criteria for removing Private Mortgage Insurance ( PMI ) that was explicitly agreed to at the time of closing on the loan. The Credit Union is changing the terms of the agreement for removing PMI in its favor now that I am finally eligible to remove PMI. At closing Pentagon Federal Credit Union provided a document titled ( enclosed ) : " WHAT YOU NEED TO KNOW ABOUT OUR SERVICING OF YOUR MORTGAGE '' In this document, the following policy was stipulated for removing PMI : " PRIVATE MORTGAGE INSURANCE Private Mortgage Insurance ( PMI ) protects PenFed against the risk of loss should a mortgage loan default. PMI is required when the outstanding principal balance of the loan is greater than 80 % of the value of the property securing the loan. The homeowners Protection Act XXXX requires PenFed to provide certain disclosures and notices. The PMI Act requires PenFed to Automatically terminate PMI when the loan to value is scheduled to reach 78 % of the property 's original value, as long as the loan is current. The PMI Act also allows you the option to request PMI be cancelled when the loan value reaches 80 % provided you have a good payment history and the property value has not declined. PMI can also be cancelled after XXXX month if the loan to value reaches 80 % of the " current value. '' In order to cancel PMI based on " current value '' a new appraisal is required. The expense of the appraisal is the borrower 's responsibility. '' ADDITIONAL FACTS : On XXXX XXXX, XXXX, I purchased my primary residence with PenFed as the lender ( enclosed ). On XXXX XXXX, XXXX, I sent an email to Pentagon Federal Credit Union to request an appraisal on my primary residence for the purposes of removing PMI from my exiting mortgage ( enclosed ). On XXXX XXXX, XXXX, the Pen Fed representative sent a reply email, indicating a 75 % loan to value was required to remove PMI instead of the 80 % agreed to at the time of closing ( enclosed ). My Primary Residence : Original Value = {$270000.00} ( enclosed ) Appraised Value on XXXX/XXXX/XXXX = {$330000.00} ( enclosed ) PenFed was the original lender. No refinances were done. A conventional loan was used. This was not a higher risk of default loan. I never received a new Policy from PendFed regarding changes to removing PMI.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Disputed: No Timely Response

2016-08-04

Bronx, NY

Managing the loan or lease

Consumer Loan: Vehicle loan

Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with non-monetary relief

Disputed: No Timely Response

2016-07-29

Augusta, GA

Managing the loan or lease

Consumer Loan: Vehicle loan

Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Disputed: No Timely Response

2016-07-25

Birmingham, AL

Application, originator, mortgage broker

Mortgage: Other mortgage

Company Response: Closed with non-monetary relief

Disputed: No Timely Response

2016-07-25

San Jacinto, CA

Shopping for a loan or lease

Consumer Loan: Installment loan

Complaint: I have been a Penfed Credit Union member over 8 years. I applied for $ XXXX signature loan, was denied, and the reason was too high loan balance? No explanation was given. The only account I have with Penfed C.U. is a $ XXXX XXXX, with a balance the was was $ XXXX, but has been paid down to {$6700.00}. My wife is a retired XXXX with a XXXX month pension and I am semi-retired with {$1300.00} monthly Social Security and I work part-time as a XXXX with {$3500.00} monthly additional income. Our mortgage payment is XXXX monthly, plus some smaller monthly payments.The Penfed phone employee did not listen to me and my reason for the installment loan request. I personally felt age discrimination. Please follow-up with Penfed.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with monetary relief

Disputed: No Timely Response

2016-07-21

West Covina, CA

Application, originator, mortgage broker

Mortgage: VA mortgage

Company Response: Closed with non-monetary relief

Disputed: No Timely Response

2016-07-20

VA

Cont'd attempts collect debt not owed

Debt collection: Mortgage

Debt was paid
Complaint: I had a home equity line of credit with XXXX XXXX XXXX XXXX. I did a short sale on my primary residence and XXXX agreed to a settlement for the equity line of credit. I believe the balance was approximately {$35000.00} but they agreed to a payment of {$8000.00} from XXXX XXXX XXXX, the lender for the residence and {$15000.00} from me. This was paid in XXXX of XXXX when I went to closing. Attached is paperwork that shows this was satisfied and I was released from this debt. I closed all accounts with XXXX XXXX XXXX. Three years later Pentagon Federal Credit Union purchased XXXX XXXX XXXX in XXXX of XXXX. Some how the home equity loan that was closed in XXXX of XXXX was picked up by Pentagon Federal Credit Union ( PenFed ). I received a bill from them requesting payment of {$58000.00}. When I first called PenFed I was told they could not do anything until after XXXX XXXX because even though I had received a bill, they could not see my information. I called back after XXXX XXXX and apprised them of the situation. I was told that I basically owed the debt and had to prove that I did not. I was told they could not call XXXX XXXX XXXX or research it from their end. The ownness was on me to prove otherwise. I told them I noticed my credit score dropped XXXX points, but again was told the ownness was on me. I was hung up on, placed on hold for extensive periods, told I could not speak with the department that handled it directly, and supposedly transferred to managers who said they could not help me that I needed to send in the information. After paying {$39.00} on XXXX/XXXX/XXXX, I find that now both XXXX XXXX XXXX and PenFed are reporting this exact issue to the credit bureau. XXXX XXXX XXXX shows it has legally paid in full for less than the full balance while PenFed shows the same debt as a charge-off. Also XXXX is showing this as a serious delinquency on my credit report. I do know there is XXXX report from XXXX XXXX XXXX and XXXX report from XXXX ; now a delinquent report from PenFed has been added. In spite of my efforts to advise PenFed that this account never should have transferred to them and even after showing proof that this was settled in XXXX their resolution was to show it as a charge-off. THE SAME DEBT IS BEING REPORTED TWICE. Since XXXX I have worked very hard to improve my credit. Even paying Credit Repair over {$500.00} to intervene on my behalf. Their efforts did increase my score, but PenFed counteracted what had been done. I am requesting not only that they remove all traces of PenFed from all credit bureaus, but they also be made to pay loss and punitive damages in the amount of {$50000.00}. I purchased a home and the effect it could have had on my mortgage rate is unknown considering I have a 30 year loan. There was indeed an inquiry from the mortgage company on XXXX XXXX, XXXX ( Credit Plus ). Evidence of this too is attached. Also after being invited to apply for a loan with XXXX, I was denied that loan. This happened the first week of XXXX XXXX. I also have been denied credit on at least XXXX other occasions. This has had a negative and profound effect on my credit and I believe this to be just and fair. A report was filed with XXXX but the conclusion was for my credit to drop additional points while PenFed said the matter had been taken care of. It has not. XXXX debt is still being reported by XXXX different banks -- XXXX XXXX XXXX and PenFed. Every time inquiry is made with PenFed, my credit score drops. The last inquiry by XXXX with PenFed was concluded XXXX XXXX, XXXX and my score went from XXXX to XXXX.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Disputed: Yes Timely Response

2016-07-19

Spfld, MA

Taking out the loan or lease

Consumer Loan: Vehicle loan

Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Disputed: No Timely Response

2016-07-14

Alexandria, VA

Loan modification,collection,foreclosure

Mortgage: Other mortgage

Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with non-monetary relief

Disputed: No Timely Response

2016-07-12

Woodland, WA

Loan servicing, payments, escrow account

Mortgage: Other mortgage

Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with monetary relief

Disputed: No Timely Response

2016-07-08

Patterson, MD

Billing disputes

Credit card:

Complaint: I had XXXX credit cards with Pentagon Federal and they have reaged this account to make it appear longer on my credit report. This is a blatant violation.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Disputed: No Timely Response

2016-07-07

Itasca, IL

Loan servicing, payments, escrow account

Mortgage: Conventional adjustable mortgage (ARM)

Complaint: I have several outstanding issues that remain unresolved with my PenFed accounts. 1. My auto loan title thing remains unresolved. I had previously sent the original title as requested by PenFed. Then when they lost that, I sent a copy. They did n't accept a copy so I had to get a duplicate title which they 've now acknowledged receiving but the issue is not yet put to rest. This was the subject of a previous complaint. 2. My first mortgage loan still has mortgage insurance on it. This was the subject of a previous complaint - PenFed agreed to remove the mortgage insurance once an appraisal came back with a value that put the loan to value ratio below 80 % ... which has been done but I am still being charged MI. 3. My home equity line of credit application is still in limbo. 4. I was charged twice for the appraisal. I was promised a refund but this has not yet materialized. 5. My application for an XXXX XXXX travel points card has not been processed. 6. My overdraft line of credit is not linked to my checking account rendering it useless.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with monetary relief

Disputed: No Timely Response

2016-07-07

Taft, OH

Other

Credit card:

Complaint: On XXXX XXXX, 2016 I applied for a credit card with Penfed Credit Union. I received an email from Penfed stating that my XXXX credit report was locked. On XXXX XXXX, 2016 I removed the lock from my XXXX credit report. Penfed subsequently approved the credit card application. On XXXX XXXX, 2016 I again applied for credit with Penfed and received another email from Penfed stating that my XXXX credit report was locked. I contacted Penfed on this date and explained that my XXXX credit report was n't locked and asked if they could use the same hard pull from XXXX XXXX, 2016. The Penfed representative stated that they could use the same hard pull if it was done within a 90 day period. I proceeded with the application process based on the information provided by the Penfed representative. On XXXX XXXX, 2016 I again applied for credit with Penfed and received an email stating that my XXXX credit report was locked. I again contacted Penfed, as my XXXX credit report was n't locked and I was again informed by the Penfed representative that they could utilize the same hard pull within a 90 day period. Penfed has consistently informed me that they could use the same hard pull as long as it was within 90 days. On XXXX XXXX, 2016 I spoke with a Penfed representative who informed me that their system showed that Penfed only pulled my credit one time on XXXX XXXX, 2016. The representative stated that if I had a credit report detailing that Penfed pulled my credit after XXXX XXXX, 2016 that I needed to submit a copy of my XXXX credit report to Penfed and they would remove the inquiries from XXXX XXXX, 2016 and XXXX XXXX, 2016. I submitted this information to Penfed and also a dispute with XXXX. Both Penfed and XXXX stated that the inquiries were factual. I did n't authorize inquiries of XXXX XXXX, 2016 and XXXX XXXX, 2016, as the Penfed representatives informed me that they would be utilizing the XXXX XXXX, 2016 hard pull from XXXX.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with non-monetary relief

Disputed: No Timely Response

2016-07-06

Alexandria, VA

Loan modification,collection,foreclosure

Mortgage: Other mortgage

Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with non-monetary relief

Disputed: Yes Timely Response

2016-07-06

Edgemont, NY

Loan servicing, payments, escrow account

Mortgage: Other mortgage

Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Disputed: No Timely Response

2016-07-05

Falls Church, VA

Loan modification,collection,foreclosure

Mortgage: Other mortgage

Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Disputed: Yes Timely Response

2016-07-05

Katonah, NY

Settlement process and costs

Mortgage: Conventional fixed mortgage

Complaint: PenFed ( Pentagon Federal Credit Union ) advertises " XXXX Points '' XXXX mortgage loans. In fact, this advertising is deceptive. PenFed charges " points '' disguised as " Loan Origination Fees ''. The initial ads ( attached ) state that the " XXXX Point '' loan has an APR higher than the stated rate because of " closing costs '' ... which a consumer can interpret as the cost of appraisals, credit checks, filing fees, etc. In fact, the closing costs include a 1 % POINT called " Loan Origination Fee ''. The borrower gets no benefit from this fee. All of the costs associated with closing the loan are billed to the borrower. The APR is in fact NOT increased by closing costs ... it is increased by collecting a POINT. The proof that this is POINT comes when the borrower complains. PenFed offers to waive the " Loan Origination Fee '', if the borrower will accept a rate 1/4 % above the advertised rate. THIS IS EXACTLY WHAT A POINT DOES!! This proves that paying the " Loan Origination Fee '' is in fact paying a POINT. Paying the POINT reduces the interest rate. Therefore, PenFed is either advertising rates that it is n't really offering ( you only get the XXXX point rate by paying a point ... the true ( hidden ) XXXX point rate is 1/4 % higher ) or it is lying when it says that the loan is " XXXX points '' and lying again when they say the APR is linked to closing costs ... they add a point in the Closing Fees disguising it as a " Loan Origination Fee ''.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Disputed: No Timely Response