Consumer complaint received 2019-11-06
Product: Mortgage — Conventional home mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage — 
Company: PNC Bank N.A. (CA)

We applied for a simple rate and term refinance with PNC bank With XXXX XXXX located at XXXX XXXX XXXX # XXXX, XXXX  XXXX, CA XXXX on XX/XX/2019.  The goal was simply to reduce our interest rate, subordinate our current HELOC, and save {$600.00} per month on our monthly payment. We explained we were about to have a XXXX  in 30 days and Borrower # 2 would be going out on XXXX   leave. So, we needed to get it done within that time frame. XXXX XXXX XXXX XXXX was the license loan officer that took our application, quoted our rate, and assured us that this time frame would not be a problem. So, we proceeded. 

On XX/XX/XXXX, we were passed off to XXXX XXXX NMLS XXXX, Loan Officer Assistant to XXXX XXXX, who advised us via email that if we were looking to close by XXXX that would not likely not happen. They were currently locking loans for 90 days. This of course contradicted what XXXX told us and therefore left us re-thinking this decision to refinance. After careful consideration, we decided to proceed since we submitted a FULL credit and income package with nothing missing, and appraisal was scheduled. 

On XX/XX/XXXX we got an email from XXXX XXXX, that our loan was conditionally approved, and our processors XXXX XXXX would be reaching out to us in 24-48 hours to request any conditions of that approval from us. 
On XX/XX/XXXX, XXXX reached out to us with a needs list of items. We turned around that same day and provided them to her. 
On XX/XX/XXXX, we followed up asking for status on the subordination and the items we sent in being signed off, we also asked for the closing disclosure to be sent to start the 3 day wait period On XX/XX/XXXX, XXXX XXXX advised that the subordination would take a few weeks, that they could not send the CD until we had a clear to close, and then once we got the clear to close, they required 10 days until we could sign loan documents. Pushing us out well past our needed closing date due to borrower 2 going out on XXXX  leave. 
On XX/XX/XXXX, we asked that XXXX or XXXX call us asap to go over our options if we didnt close on time so we could decide yet again to proceed or cancel the loan application and move on. 
To this day, we have never heard from XXXX XXXX again. 
On XX/XX/XXXX, I reached out to XXXX and XXXX letting them know I never heard from anyone and still needed a phone call. XXXX finally called me and we discussed borrower 2s XXXX  leave and income. He needed to check with underwriting and get back to me. 
On XX/XX/XXXX, still waiting to hear On XX/XX/XXXX XX/XX/XXXX, still waiting to hear On XX/XX/XXXX, got a list of items we needed from Borrower 2s HR in order to document XXXX leave and pay. 
On XX/XX/XXXX, items requested, were provided for an exception On XX/XX/XXXX, advised our exception was approved and we received an updated loan approval. 

NOW on XX/XX/XXXX at XXXX we see that we need to bring in $ XXXX to close, and they want an additional $ XXXX in liquid assets verified in addition to the $ XXXX in assets already verified. 

We asked on several occasions why the following was not done or addressed. And here we are, 2 days before having a new XXXX  and no where closer to closing on this refinance. In a nutshell they : Never changed the loan amount for the subordination after numerous requests Never brought up XXXX  leave amount on the application Never brought up Borrower 1 qualifying on his own with omitting car payments Never updated application to show cars omitted Never added borrower 2 bonus income Never responded about when subordination was ordered so we could rush using our contacts LO knew about leave and said we could close in 30 days No calls from manager after numerous requests Were never given a secure portal to upload sensitive documentation and I had to send via drop box and get IT to approve it We missed our opportunity on the low interest rates due to the lack of concerns and communication on the lenders side. The lender never updated the loan amount per our request and still to this day. They never ran our approval using borrower 1s income with borrower 2s XXXX leave as a protected individual. They never omitted the auto payments paid by borrower 1s company in which we were told they were holding this in their back pocket if the exception committee didnt approve borrower 2s XXXX  leave. This is submitting a falsified loan application for exception after numerous requests to the loan officer, loan processor and the loan officer assistant. 
We have a loan to value of 54 %, A+ credit rating with plenty of assets and reserves and returned our documentation upon request immediately or within 24 HRS of request. We feel that we are being targeted as the lender is aware of borrower 2 going on leave and when this happens, there is always a no guarantee that they may go back to work. Therefore, PNC Bank has chosen to request documents numerous times, add conditions that were already signed off and has chosen not to return phone calls and e mail in an acceptable timeframe in order to decline our loan due to maternity leave. We provided XXXX pay ; PTO pay that will be paid off through the maternity leave due to accrued hours as well as letters of intent to return to work as well as letters from borrower 2s HR confirming the position after leave. 
For the two of us ( borrowers ) being in the industry for the past 18 years, we are blown away by the discrimination from PNC Bank and the pure lack of their regard to the laws and guidelines that we are licensed and required to abide by