Consumer complaint received 2016-11-29
Company: PNC Bank N.A.
State: CA
Product: Mortgage
Sub-product: Conventional fixed mortgage
Issue: Application, originator, mortgage broker

Complaint:
XX/XX/XXXX Consumer Financial Protection Bureau PNC Mortgage/ PNC Bank XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX, IA XXXX XXXX, PA XXXX RE : Loan # XXXX and Loan # XXXX XXXX XXXX and XXXX XXXX XXXX XXXX XXXX # XXXX XXXX XXXX, CA XXXX We spent 3 1/2 months dealing with PNC Bank over what should have been a simple refinance. I have never experienced such terrible customer service or lack of knowledge from a bank regarding mortgages. Multiple times documents had to be resent after the loan officer misplaced them, weeks at a time went by without any contact with us, and every time I contacted them they had screwed up some important information and were clueless on any details. After 3 1/2 months of them wasting our time they never even called to say they were not able to refinance our home. I received a denial letter in the mail with a generic reason - Credit Application Incomplete. 

Let 's review what happen with loan # XXXX - I applied for a HARP STREAMLINE REFINANCE which required no appraisal, income or assets documentation. PNC stated I need to pay {$500.00} for an appraisal report. I contacted HARP and they stated under a HARP STREAMLINE REFINANCE no appraisal is needed due to the fact there are no minimum or maximum LTV. 
I requested PNC MORTGAGE do a desktop appraisal review in order to get a value and was flatly denied. I paid the {$500.00} for the appraisal report and completed the loan application over the phone with the loan officer XXXX. Received denial letter XX/XX/XXXX in the mail with generic reason - Credit Application Incomplete. / P.S. - Loan application was fully completed!!!!!!!!!! 

Let 's review what happen with Loan # XXXX - My wife XXXX XXXX applied for a 30 yr. Fixed Rate Conventional Refinance. She provided the following documentation - Pay stubs covering 30 days, XX/XX/XXXX-XX/XX/XXXX XXXX, 3 months bank statements, Homeowner Insurance XXXX Page, Current Property Tax Statements and verification of mortgage history with no lates in the last 10yrs. Also cancel Checks to show proof that she has been making the payment for the last 3 years. PLEASE NOTE : My wife credit score is XXXX with no debts. She has an annual income of {$81000.00} dollars. Additional {$400000.00} in various accounts. My wife have been on title for 6 months, per XXXX GUIDELINES STATES - Borrower has to be on title at least 6 months prior to the new note date. PNC MORTGAGE guidelines states borrower has to be on title for at least 12 months. I requested that I be added to the loan to satisfy that requirement, since I been on title for the last 16 years. It is important to note here that PNC ALREADY OWNED our loan for several years. XXXX XXXX, Officer of Executive Client Relations denied my request to be added to the loan. Received denial letter XX/XX/XXXX in the mail with generic reason - We do not grant credit to any applicant on the terms and conditions you have requested. This is blatant disregard to my rights as a consumer. XXXX Fraud is represented here and this company should be investigated for stealing people money ( {$500.00} appraisal report & {$25.00} credit report ) by deliberat misrepresentation. 




Loan details - LTV 70 % Debt to Income Ratios XXXX = Very Good Loan While homeowners are in desperate need of help via a loan refinance. PNC MORTGAGE/PNC BANK contributed to these delays through practice that included : a ) Misplacing or losing borrower 's documents b ) Failing to inform borrower 's when additional information is required

Company response to consumer: Closed with explanation