Pen Fed Nightmare Customer Service

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rascott
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Pen Fed Nightmare Customer Service

Post by rascott »

I've been with PenFed for a number of years....I had noticed that their overall service had really been degrading in recent years, but this latest experience really takes the cake.

I had a $0 balance HELOC on my home with them, along with a 1st mortgage....as part of a refi with another lender on my 1st mortgage in August this HELCO was to be closed, not resubordinated. There was a $55 lien release fee to close this HELOC and release lien from title. This was on the payoff statement, the title company paid via check (as instructed) the $55 fee at the refi closing.

Weeks go by and I notice the $55 is still sitting as a balance on the account. I ask title company about it, they provide me proof of payment including cancelled check sent to and cashed by PenFed.

I call.....wait on hold for 45+ mins before anyone ever picks up.....they research it....more on hold, she finally disconnects me.....a 2nd CSR (after another 30 min hold) says yes I see in the notes, this will be cleared up within a few days. Of course, it was not.

Then I start getting nasty letters in the mail from their 2nd mortgage VP, Rod Raszler….2 in the last month, saying this is still due, and they won't release the lien on my home without payment.

Fast forward---- 3 more calls, over the last 3 weeks....each call nearly an hour long of mostly hold. More promises, zero action. At this point I'm ready to throw in the towel and pay the $55 again and fight it out later. I'd like to open a new HELOC with another lender, but can't until these incompetents get their act together.

I would heavily advise steering miles away from PenFed. If anyone knows how to track down a direct email address for Rod Raszler, or any other PenFed execs, that's the only way I see this getting resolved. Their CSR people (if they ever even answer) are either liars or clueless. Maybe both.
tj
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Re: Pen Fed Nightmare Customer Service

Post by tj »

Can the CFPB assist in this situation?
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galawdawg
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Re: Pen Fed Nightmare Customer Service

Post by galawdawg »

William Heyer is Senior VP and General Counsel for Pen Fed, 571-341-6476. If your issue isn't promptly resolved, you may want to contact your attorney. Many states provide civil remedies and penalties for failure to timely file a satisfaction of mortgage or lien release.

Of course, IANYL. Good luck.
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rascott
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Re: Pen Fed Nightmare Customer Service

Post by rascott »

tj wrote: Thu Oct 15, 2020 4:47 pm Can the CFPB assist in this situation?
Opened a case this last week while sitting on hold just out of frustration.
Topic Author
rascott
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Re: Pen Fed Nightmare Customer Service

Post by rascott »

galawdawg wrote: Thu Oct 15, 2020 4:48 pm William Heyer is Senior VP and General Counsel for Pen Fed, 571-341-6476. If your issue isn't promptly resolved, you may want to contact your attorney. Many states provide civil remedies and penalties for failure to timely file a satisfaction of mortgage or lien release.

Of course, IANYL. Good luck.
Thanks
grettman
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Re: Pen Fed Nightmare Customer Service

Post by grettman »

Penfed is awful.

Left them a while ago.

Life’s too short to deal w their horrible service.
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Re: Pen Fed Nightmare Customer Service

Post by LadyGeek »

This thread has run its course and is locked (rant). See: Personal Finance
This subforum is for personal financial issues that don't involve investments. Examples of acceptable topics are:

- insurance
- employment issues
- credit card and credit rating issues
- mortgage and loan issues
- legal issues that have a financial component like wills and pre-nuptial agreements

Note that topics must be directly connected to your (or your friend's or family's) financial life. General comments or complaints about these topics will be removed.
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Re: Pen Fed Nightmare Customer Service

Post by LadyGeek »

After receiving a PM, the OP is looking for a solution or the appropriate contact.

This thread is unlocked to continue the discussion. Please state your concerns in a civil, factual manner.
Wiki To some, the glass is half full. To others, the glass is half empty. To an engineer, it's twice the size it needs to be.
Topic Author
rascott
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Re: Pen Fed Nightmare Customer Service

Post by rascott »

Thank you for reopening the thread.

To the actionable point/ question... if anyone has any ideas on tracking down additional valid contacts within PenFed mgmt, would be much appreciated. $55 isn't worth this madness (nor is contacting a lawyer).... but it's the principle of the matter at this point. And getting the lien released from my home.
greenwaves
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Re: Pen Fed Nightmare Customer Service

Post by greenwaves »

Did you try submitting feedback to the Chairman, Board of Directors at the following link? https://www.penfed.org/board-of-directors


Per the info on the PenFed page:

Message to our Members

I understand the importance of providing an outlet of open communication between management and our valued members. Additionally, I enjoy receiving your feedback and hearing about your experiences with PenFed.

Please take a moment to send your concerns, compliments, or suggestions to my office. Your message will be given careful consideration and your concerns shared with me and my executive team. You will receive our response when a thorough review is completed.

Thank you for choosing to be a member of the PenFed Family.

Edward B. Cody
Chairman, Board of Directors

Note: This format allows for a maximum of 2,000 characters in the message section.
e5116
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Re: Pen Fed Nightmare Customer Service

Post by e5116 »

Proposed solution: pay the $55 again and move on with your life. All these phone calls and time are not worth it.
TravelGeek
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Re: Pen Fed Nightmare Customer Service

Post by TravelGeek »

rascott wrote: Thu Oct 15, 2020 4:38 pmIf anyone knows how to track down a direct email address for Rod Raszler, or any other PenFed execs, that's the only way I see this getting resolved. Their CSR people (if they ever even answer) are either liars or clueless. Maybe both.
According to “the internet” the common email format for PenFed is firstname.lastname@penfed.org.

Zoominfo claims that this person has an email that looks like r*****@penfed.org.

I’d give that a try. Worst case it bounces back.
CycloRista
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Re: Pen Fed Nightmare Customer Service

Post by CycloRista »

I found them to be complete nincompoops... never put a dime there but my mother swore by them.

Her mortgage and a credit card were with them and I recall that she had issues with the credit card and ended up sending multiple letters to the Chairman, BOD.

Upon my mother's passing, I was able to sell her home in short order with no issues. To this day, they still will not close her credit card account (that has a credit balance of a few dollars) so I am going to let them continue mailing a statement every month forever.
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StevieG72
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Re: Pen Fed Nightmare Customer Service

Post by StevieG72 »

I had a similar issue with a closing, tax authority claimed they did not receive payment. Title company cleared things up very quickly. In my case it appeared the payment was applied to the wrong account somehow. How did the title company reference payment to apply to your account?
Fools think their own way is right, but the wise listen to others.
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rascott
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Re: Pen Fed Nightmare Customer Service

Post by rascott »

StevieG72 wrote: Fri Oct 16, 2020 6:00 am I had a similar issue with a closing, tax authority claimed they did not receive payment. Title company cleared things up very quickly. In my case it appeared the payment was applied to the wrong account somehow. How did the title company reference payment to apply to your account?
Penfed has told me for a month now that they have the payment.... it's just that their processing dept can't manage to apply it to my account.... and the CSRs have no idea why. It's really comedic at this point.
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galawdawg
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Re: Pen Fed Nightmare Customer Service

Post by galawdawg »

In which state is the property located?
Golf maniac
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Re: Pen Fed Nightmare Customer Service

Post by Golf maniac »

A couple of additional things you can do. Most banks have an Executive Complaint department. You can send a letter or email to the CEO and this department will research and resolve the issue. You can also find out who their primary regulator is (not CFPB) and send in a complaint to them. Most have online submissions of customer complaints and have people who work on these complaints with the bank. Good luck, I know this is crazy frustrating but it will get cleared up.
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rascott
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Re: Pen Fed Nightmare Customer Service

Post by rascott »

Golf maniac wrote: Fri Oct 16, 2020 6:57 am A couple of additional things you can do. Most banks have an Executive Complaint department. You can send a letter or email to the CEO and this department will research and resolve the issue. You can also find out who their primary regulator is (not CFPB) and send in a complaint to them. Most have online submissions of customer complaints and have people who work on these complaints with the bank. Good luck, I know this is crazy frustrating but it will get cleared up.
I did a complaint with the NCUA.... within a day or two they replied and said there was nothing they could do and referred me to the CFPB. LOL
rkhusky
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Re: Pen Fed Nightmare Customer Service

Post by rkhusky »

FWIW, I have not had any issue with PenFed and have had car loans, HEL, mortgage, CD's and credit cards with them. With any institution there are likely to be a number of people that run into problems.
Topic Author
rascott
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Re: Pen Fed Nightmare Customer Service

Post by rascott »

rkhusky wrote: Fri Oct 16, 2020 7:44 am FWIW, I have not had any issue with PenFed and have had car loans, HEL, mortgage, CD's and credit cards with them.
I've had a variety of things with them over the last 7 years or so. Typically had been ok.... but if you actually need to call them for issues these days, forget about it... or at least block off an afternoon.

They also took a very long time to release my 1st mortgage and return my escrow account money, like 50+ days, which is much longer than with other refis I've done
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Re: Pen Fed Nightmare Customer Service

Post by Golf maniac »

rascott wrote: Fri Oct 16, 2020 6:27 am
StevieG72 wrote: Fri Oct 16, 2020 6:00 am I had a similar issue with a closing, tax authority claimed they did not receive payment. Title company cleared things up very quickly. In my case it appeared the payment was applied to the wrong account somehow. How did the title company reference payment to apply to your account?
Penfed has told me for a month now that they have the payment.... it's just that their processing dept can't manage to apply it to my account.... and the CSRs have no idea why. It's really comedic at this point.
NCUA is not regulator, they are insurer. If state chartered will be state, if federal charter will be OCC or Fed.
jmw
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Re: Pen Fed Nightmare Customer Service

Post by jmw »

e5116 wrote: Thu Oct 15, 2020 8:01 pm Proposed solution: pay the $55 again and move on with your life. All these phone calls and time are not worth it.
Paying the $55 again is what I would do as well. I don't like wasting $5 or $55 but life is too short to waste hours on the phone. If it was $550 then yeah I'd keep up the good fight.
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whodidntante
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Re: Pen Fed Nightmare Customer Service

Post by whodidntante »

Some states allow you to release a lien yourself. You go to the right soul-sucking government office with your proof, and walk out a free man.
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gr7070
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Re: Pen Fed Nightmare Customer Service

Post by gr7070 »

jmw wrote: Fri Oct 16, 2020 11:37 pm
e5116 wrote: Thu Oct 15, 2020 8:01 pm Proposed solution: pay the $55 again and move on with your life. All these phone calls and time are not worth it.
Paying the $55 again is what I would do as well. I don't like wasting $5 or $55 but life is too short to waste hours on the phone. If it was $550 then yeah I'd keep up the good fight.
I largely agree with this. Good chance you'll eventually get that second $55 back, too.

Granted I don't get the whole "HELOC for safety" thing anyway. So I probably wouldn't bother with any of it.

We've also have been with PenFed in various forms for nearing 15+ years. Never had an issue, though, I never contract them other than the eventual CC fraud.

Good luck OP. Life's too short...
queenswake
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Re: Pen Fed Nightmare Customer Service

Post by queenswake »

I have been trying to get ahold of them for weeks regarding my HELOC. After being passed around to different numbers on hold without any one actually picking up, I gave up. I even tried the option to have them contact me once my place in line was reached. Nothing.

I think they are seeing the results of their own success. So many people got mortgages and HELOCs with them for the past 15 years and they just do not have the customer service department size in order to deal with the time we're in right now with all of their mortgage customers wanting to refinance.
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wander
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Re: Pen Fed Nightmare Customer Service

Post by wander »

PenFed is a fine company. But I do complain that the wait time on the phone is pretty long.
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galawdawg
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Re: Pen Fed Nightmare Customer Service

Post by galawdawg »

Any update OP?
UpperNwGuy
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Re: Pen Fed Nightmare Customer Service

Post by UpperNwGuy »

galawdawg wrote: Wed Oct 21, 2020 1:07 pm Any update OP?
+1
sschoe2
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Re: Pen Fed Nightmare Customer Service

Post by sschoe2 »

I had similar issues with a mortgage and Bank of America. A CFPB complaint got me past the obstinates and incompetents on the phone and the attention of someone competent real fast. I'd be surprised if they blow off the CFPB as the CFPB could put a would of hurt on them.
MarkerFM
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Re: Pen Fed Nightmare Customer Service

Post by MarkerFM »

Back when I had a HELOC at Pen Fed (and many problems with them), I would email PFCUBDChairmanEmails@PenFed.org and would get quick responses from someone who signed their name Jim Quinn, Chairman. Based on the emails, I believed it was him, but it could have been an executive correspondence team. Anyway, I received the help I requested dealing with their messes. I know Jim Quinn is no longer Chairman, but the email address might still work for the current one.
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rascott
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Re: Pen Fed Nightmare Customer Service

Post by rascott »

galawdawg wrote: Wed Oct 21, 2020 1:07 pm Any update OP?
I finally got this resolved on like the 6th or 7th call. Got to the point I just called every day and put it on speaker/ hold while doing some busy work at my desk. Finally got connected to a decent soul who read all the prior notes and just said enough of this, we're writing it off for you and got it done. Why that wasn't done 3 weeks and 5 calls prior... who knows. But it's done. They still could never manage to get their processing people to post the check payment to the account, but whatever.. it's over. Thanks everyone for help.
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rascott
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Re: Pen Fed Nightmare Customer Service

Post by rascott »

jmw wrote: Fri Oct 16, 2020 11:37 pm
e5116 wrote: Thu Oct 15, 2020 8:01 pm Proposed solution: pay the $55 again and move on with your life. All these phone calls and time are not worth it.
Paying the $55 again is what I would do as well. I don't like wasting $5 or $55 but life is too short to waste hours on the phone. If it was $550 then yeah I'd keep up the good fight.
Ha.... yes in normal times I would have done just that. In covid times I've ended up with a lot of free time at home, so figured I'd wear this out until the bare end.
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