Your complaint filed with the Revdex.com regarding your Pentagon Federal Credit Union (PenFed) auto loan account was received in my office on December 28, 2015. I appreciate having the opportunity to address your concerns.
Thank you for choosing to...
finance your June 2015 vehicle purchase with PenFed. We received the title associated with your new auto loan on July 10, 2015; however, it did not list PenFed as lienholder. An application for lien placement was promptly sent to you on July 13, 2015.
PenFed faces greater financial risk and expense should a borrower default on a loan if the title for the collateral securing the loan has not been received and PenFed is not recorded as the lien holder. Therefore, we initiated a policy that allows us to compensate for this risk factor and increased repossession expenses by imposing a higher interest rate on these loans. We allow at least 150 days for a member or dealership to provide the title with the correct lien holder. We feel this is sufficient time for the local government agencies to process the necessary paperwork. Reminder letters to provide us with the title were sent to you on three more occasions.
While your loan was initially disbursed with a 0.99% APR, on November 17, 2015 the rate was increased to 14% due to non-receipt of a perfected title. The promissory note you signed states in part:
I agree to apply for and provide you with a Certificate of Title or any other document constituting proof of ownership of the collateral and your interest in it. I further agree to furnish you with such information and execute and deliver such documents and take any and all action necessary and appropriate to establish, perfect and maintain your valid and prior security interest and lien in the collateral. IF I FAIL TO TAKE THE ACTIONS I HAVE AGREED TO IN THIS SECTION WITHIN 150 DAYS OF THE DATE OF THE LOAN, I SHALL BE IN DEFAULT AND IN ADDITION TO THE REMEDIES OTHERWISE AVAILABLE TO YOU, I AGREE THAT YOU MAY, AT YOUR OPTION, INCREASE THE ANNUAL PERCENTAGE RATE I PAY ON THE LOAN TO THE HIGHEST RATE THEN IN EFFECT ON YOUR CLOSED END UNSECURED LOANS.
I understand we received the needed lien-placement application on December 2, 2015. PenFed then worked directly with the New Jersey Department of Motor Vehicles to obtain the title for your vehicle. The perfected title was received on December 24, 2015, and the rate on your auto loan was restored to 0.99% APR, effective to November 17, 2015. The reversal of the interest rate ensures you were charged interest at the 0.99% rate between November 17th and December 24th. A letter confirming this action was sent to your address of record the following business day.
I hope my response provides clarity on our position, and addresses your concerns on this matter.
Sincerely,
James *. K[redacted]
Senior Vice President, Operations
Your complaint filed with the Revdex.com regarding your PenFed Credit Union mortgage application was received in my office on August 28, 2015. I appreciate having the opportunity to address your concerns.
I was sorry to hear your application was not...
processed as expediently as you wished. Maintaining open lines of communication is essential during the mortgage application process and I am sorry we did not meet your expectations.
After your application submission on May 21, 2015, a Mortgage Consultant spoke with you regarding the application on May 22, 2015. It is unfortunate you did not have time to discuss your application at the time of our call.
Your Processor attempted to reach you three more times by telephone, email and mail. When a response had not been received by June 20, 2015, the application was cancelled.
I regret you decided not to proceed with your application and are upset by the resulting fee. During the application process you electronically viewed a disclosure stating:
I acknowledge that under the circumstances noted below, I will be responsible for all third party costs actually incurred by PFCU in processing my loan request. These costs include the $65 charge for submitted the application as well as the other third party costs disclosure on the Good Faith Estimate.
Circumstances:
1. The Loan does not close, or
2. Property securing the loan is Investment Property, or
3. The purpose of the loan is to refinance an existing Pentagon Federal mortgage
FURTHER, I authorize PFCU to charge my credit card account for those third party costs using the credit card account number I have provided to you. In the event that the credit card cannot be used, I authorize you to deduct those costs from my Pentagon Federal deposit account.
I understand your disappointment with paying for an application from which you did not benefit. These are fees PenFed paid on your behalf to third party providers. We are simply seeking reimbursement for the costs we incurred.
As you acknowledged your responsibility for third-party fees at the onset of the application, I am not able to grant your request for a refund. Thank you for your interest in our real estate products. I hope you will consider PenFed in the future when applying for a mortgage, auto loan, or a credit card.
Dear [redacted], Your complaint filed with the Revdex.com regarding your Pentagon Federal Credit Union (PenFed) checking account was received on May 17, 2017. I appreciate having the opportunity to address your concerns. We have carefully reviewed your bill pay...
transactions. As you note, you scheduled a $386 payment to [redacted] on April 1, 2017. On April 4, 2017, a second $386 payment was requested. You state you attempted to cancel the April 1st transaction; however, because the payment had already been transmitted to [redacted], stop payment was no longer possible. It appears instead another payment was requested. On April 6th, a $200 [redacted] payment was requested and processed. All three payments were sent electronically to [redacted]. The PenFed bill pay service makes these payments on your behalf, and then debits your PenFed checking account on your scheduled payment date. We are not able to reject their debits, which resulted in the overdrawn balance on your checking account on April 13, 2017. I hope you received the letter of explanation we mailed to you on that date. I regret [redacted] will not refund your overpayment. I understand you spoke with [redacted] and she provided you with a letter of explanation for [redacted]. It is hoped this letter will help you in obtaining a refund from them. [redacted] is also willing to coordinate a conference between you, [redacted], and PenFed. Please feel free to contact her at [redacted], if you would like to make the call. We would very much like to assist you to the extent we can. We value your membership, and every opportunity to serve you. I hope you will take advantage of our offer to speak with you and [redacted] to try to resolve this matter. Sincerely, Jim K[redacted] Senior Vice President, Operations
Lewis Exterminating Co. "They Don't Stay Where I Spray!" Revdex.com 2800 EUCLID AVE.,4th FL CLEVELAND OHIO 44115 TO WHOM IT MAY CONCREN: Lewis EXTERMINATING WAS HIRED TO RID BED BUGS FROM PROPERTY AT [redacted] AVE, CLEVELAND, OHIO, WE COMPLETED THE HEST TREATMENT...
ON 10/20/2015, WE RETURNED FOR THE 2nd TREATMENT ON 10/27 /2015, Mr. [redacted] CALLED A WEEK LATER AND SAID THERE WAS ONE BED BUG IN A STICKEY GLUE BOARD IN THE BATH ROOM, 1 RETURNED ON 11/6/2015 TO RETREAT THE BATH ROOM AND THE UNDERFLOORING/ TOILET STACK IN THE BASEMENT, WE EXPLAIN TO MR. [redacted] THE PROPERTY WOULD RECEIVE TWO APPLICATIONS A WEEK APART AND HE WOULD RECEIVE A 30 DAY GUARANTEE AFTER THE 2ND APPLICATION, WE DID NOT HEAR FROM MR. [redacted] 2/25/2016, HE SAID THERE WERE MULTIPLE GLUE BOARDS THROUGH OUT THE HOUSE AND THERE WAS A BED BUG IN THREE GLUE BOARDS I EXPLAINED TO MR. [redacted] HE WAS WAY PASSED THE WARRANTY DATE WHICH WAS 11/28/2015. MEAN WHILE HE CALLED 3 MONTHS LATER ASKING FOR A FREE TREATMENT, I EXPLAIN TO HIM IT WOULD BE A SERVICE CHARGE, WHICH HE DID NOT WANT TO PAY,Lewis EXTERMINATING HAS NO COMPLAINS WITH Revdex.com IN THE LAST 40 YEARS AS FAW AS WE KNOW OF.WE HONORS ALL WARRANTY'S ON ALL SERVICE WORK PROVIDED, WE EXPLAINS TO ALL CUSTOMERS THE PROCEDURE OF WORK TO BE PERFORMED AND THE WARRANTY PROVIDED FOR THAT JOB, ANY QUESTIONS PLEASE CALL JOHN L[redacted] SR. THANK YOU JOHN L[redacted] SR
Dear [redacted], Your complaint filed with the Revdex.com regarding your Pentagon Federal Credit Union (PenFed) Regular Share Account was received in my office on August 11, 2016. I appreciate having the opportunity to address your concerns. I was disappointed to learn of the issues with...
your $500 deposit and that you feel the quality of service you received from PenFed on this issue was lacking. In response to your May 23, 2016 email to PenFed you were asked to provide us with a copy of the paid $500 [redacted] check so we could locate the funds. After receiving your Revdex.com complaint, we contacted you by phone to request the check copy. Thank you for promptly sending it to us. We were able to verify the check against our records and release the funds to you. A $500 check was sent to you by [redacted] on August 16, 2016. I hope our actions bring a full resolution to your complaint. Sincerely, James *. K[redacted] Senior Vice President, Operations
Dear [redacted],
Your complaint filed with the Revdex.com regarding your Pentagon Federal Credit Union (PenFed) auto loan account was received in my office on December 28, 2015. I appreciate having the opportunity to address your concerns.
Thank you for choosing to...
finance your June 2015 vehicle purchase with PenFed. We received the title associated with your new auto loan on July 10, 2015; however, it did not list PenFed as lienholder. An application for lien placement was promptly sent to you on July 13, 2015.
PenFed faces greater financial risk and expense should a borrower default on a loan if the title for the collateral securing the loan has not been received and PenFed is not recorded as the lien holder. Therefore, we initiated a policy that allows us to compensate for this risk factor and increased repossession expenses by imposing a higher interest rate on these loans. We allow at least 150 days for a member or dealership to provide the title with the correct lien holder. We feel this is sufficient time for the local government agencies to process the necessary paperwork. Reminder letters to provide us with the title were sent to you on three more occasions.
While your loan was initially disbursed with a 0.99% APR, on November 17, 2015 the rate was increased to 14% due to non-receipt of a perfected title. The promissory note you signed states in part:
I agree to apply for and provide you with a Certificate of Title or any other document constituting proof of ownership of the collateral and your interest in it. I further agree to furnish you with such information and execute and deliver such documents and take any and all action necessary and appropriate to establish, perfect and maintain your valid and prior security interest and lien in the collateral. IF I FAIL TO TAKE THE ACTIONS I HAVE AGREED TO IN THIS SECTION WITHIN 150 DAYS OF THE DATE OF THE LOAN, I SHALL BE IN DEFAULT AND IN ADDITION TO THE REMEDIES OTHERWISE AVAILABLE TO YOU, I AGREE THAT YOU MAY, AT YOUR OPTION, INCREASE THE ANNUAL PERCENTAGE RATE I PAY ON THE LOAN TO THE HIGHEST RATE THEN IN EFFECT ON YOUR CLOSED END UNSECURED LOANS.
I understand we received the needed lien-placement application on December 2, 2015. PenFed then worked directly with the New Jersey Department of Motor Vehicles to obtain the title for your vehicle. The perfected title was received on December 24, 2015, and the rate on your auto loan was restored to 0.99% APR, effective to November 17, 2015. The reversal of the interest rate ensures you were charged interest at the 0.99% rate between November 17th and December 24th. A letter confirming this action was sent to your address of record the following business day.
I hope my response provides clarity on our position, and addresses your concerns on this matter.
Sincerely,
James *. K[redacted]
Senior Vice President, Operations
Dear [redacted],
Your complaint filed with the Revdex.com regarding your PenFed Credit Union mortgage application was received in my office on August 28, 2015. I appreciate having the opportunity to address your concerns.
I was sorry to hear your application was not...
processed as expediently as you wished. Maintaining open lines of communication is essential during the mortgage application process and I am sorry we did not meet your expectations.
After your application submission on May 21, 2015, a Mortgage Consultant spoke with you regarding the application on May 22, 2015. It is unfortunate you did not have time to discuss your application at the time of our call.
Your Processor attempted to reach you three more times by telephone, email and mail. When a response had not been received by June 20, 2015, the application was cancelled.
I regret you decided not to proceed with your application and are upset by the resulting fee. During the application process you electronically viewed a disclosure stating:
I acknowledge that under the circumstances noted below, I will be responsible for all third party costs actually incurred by PFCU in processing my loan request. These costs include the $65 charge for submitted the application as well as the other third party costs disclosure on the Good Faith Estimate.
Circumstances:
1. The Loan does not close, or
2. Property securing the loan is Investment Property, or
3. The purpose of the loan is to refinance an existing Pentagon Federal mortgage
FURTHER, I authorize PFCU to charge my credit card account for those third party costs using the credit card account number I have provided to you. In the event that the credit card cannot be used, I authorize you to deduct those costs from my Pentagon Federal deposit account.
I understand your disappointment with paying for an application from which you did not benefit. These are fees PenFed paid on your behalf to third party providers. We are simply seeking reimbursement for the costs we incurred.
As you acknowledged your responsibility for third-party fees at the onset of the application, I am not able to grant your request for a refund. Thank you for your interest in our real estate products. I hope you will consider PenFed in the future when applying for a mortgage, auto loan, or a credit card.
Sincerely,
Cindy G[redacted]
Senior Vice President, Mortgage Originations
Dear [redacted], Your complaint filed with the Revdex.com regarding your Pentagon Federal Credit Union (PenFed) checking account was received on May 17, 2017. I appreciate having the opportunity to address your concerns. We have carefully reviewed your bill pay...
transactions. As you note, you scheduled a $386 payment to [redacted] on April 1, 2017. On April 4, 2017, a second $386 payment was requested. You state you attempted to cancel the April 1st transaction; however, because the payment had already been transmitted to [redacted], stop payment was no longer possible. It appears instead another payment was requested. On April 6th, a $200 [redacted] payment was requested and processed. All three payments were sent electronically to [redacted]. The PenFed bill pay service makes these payments on your behalf, and then debits your PenFed checking account on your scheduled payment date. We are not able to reject their debits, which resulted in the overdrawn balance on your checking account on April 13, 2017. I hope you received the letter of explanation we mailed to you on that date. I regret [redacted] will not refund your overpayment. I understand you spoke with [redacted] and she provided you with a letter of explanation for [redacted]. It is hoped this letter will help you in obtaining a refund from them. [redacted] is also willing to coordinate a conference between you, [redacted], and PenFed. Please feel free to contact her at [redacted], if you would like to make the call. We would very much like to assist you to the extent we can. We value your membership, and every opportunity to serve you. I hope you will take advantage of our offer to speak with you and [redacted] to try to resolve this matter. Sincerely, Jim K[redacted] Senior Vice President, Operations
Lewis Exterminating Co. "They Don't Stay Where I Spray!" Revdex.com 2800 EUCLID AVE.,4th FL CLEVELAND OHIO 44115 TO WHOM IT MAY CONCREN: Lewis EXTERMINATING WAS HIRED TO RID BED BUGS FROM PROPERTY AT [redacted] AVE, CLEVELAND, OHIO, WE COMPLETED THE HEST TREATMENT...
ON 10/20/2015, WE RETURNED FOR THE 2nd TREATMENT ON 10/27 /2015, Mr. [redacted] CALLED A WEEK LATER AND SAID THERE WAS ONE BED BUG IN A STICKEY GLUE BOARD IN THE BATH ROOM, 1 RETURNED ON 11/6/2015 TO RETREAT THE BATH ROOM AND THE UNDERFLOORING/ TOILET STACK IN THE BASEMENT, WE EXPLAIN TO MR. [redacted] THE PROPERTY WOULD RECEIVE TWO APPLICATIONS A WEEK APART AND HE WOULD RECEIVE A 30 DAY GUARANTEE AFTER THE 2ND APPLICATION, WE DID NOT HEAR FROM MR. [redacted] 2/25/2016, HE SAID THERE WERE MULTIPLE GLUE BOARDS THROUGH OUT THE HOUSE AND THERE WAS A BED BUG IN THREE GLUE BOARDS I EXPLAINED TO MR. [redacted] HE WAS WAY PASSED THE WARRANTY DATE WHICH WAS 11/28/2015. MEAN WHILE HE CALLED 3 MONTHS LATER ASKING FOR A FREE TREATMENT, I EXPLAIN TO HIM IT WOULD BE A SERVICE CHARGE, WHICH HE DID NOT WANT TO PAY,Lewis EXTERMINATING HAS NO COMPLAINS WITH Revdex.com IN THE LAST 40 YEARS AS FAW AS WE KNOW OF.WE HONORS ALL WARRANTY'S ON ALL SERVICE WORK PROVIDED, WE EXPLAINS TO ALL CUSTOMERS THE PROCEDURE OF WORK TO BE PERFORMED AND THE WARRANTY PROVIDED FOR THAT JOB, ANY QUESTIONS PLEASE CALL JOHN L[redacted] SR. THANK YOU JOHN L[redacted] SR
Dear [redacted], Your complaint filed with the Revdex.com regarding your Pentagon Federal Credit Union (PenFed) Regular Share Account was received in my office on August 11, 2016. I appreciate having the opportunity to address your concerns. I was disappointed to learn of the issues with...
your $500 deposit and that you feel the quality of service you received from PenFed on this issue was lacking. In response to your May 23, 2016 email to PenFed you were asked to provide us with a copy of the paid $500 [redacted] check so we could locate the funds. After receiving your Revdex.com complaint, we contacted you by phone to request the check copy. Thank you for promptly sending it to us. We were able to verify the check against our records and release the funds to you. A $500 check was sent to you by [redacted] on August 16, 2016. I hope our actions bring a full resolution to your complaint. Sincerely, James *. K[redacted] Senior Vice President, Operations