Consumer complaint received 2024-08-29
Product: Mortgage — Conventional home mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage — Application denials
Company: PNC Bank N.A. (RI)

XX/XX/XXXX To Whom It May Concern : This is the third complaint I am filing against PNC Bank for failure to give my father and me a truthful reason of denial of a conventional loan for an investment property. The first complaint was filed with your organization on XX/XX/XXXX and the complaint Number ID is XXXX. The second complaint was filed with your organization on XX/XX/XXXX and the complaint number is XXXX. 

After receiving XXXX letters from PNC Bank in response to both complaints, we are dissatisfied with their response and their follow-up responses to emails sent to them. 

My last email correspondence to PNC Bank was sent to XXXX XXXX, XXXX Client Relations. She was handling my second complaint, but failed to respond to my last email, which was dated XX/XX/XXXX. An automatic response from her email box read that, I am out of the office until XX/XX/XXXX. That was XXXX months ago. 

Please see the attached file with the last email sent to XXXX XXXX. I would like an answer to the last email communication. After much research over the past XXXX years with competitive banks including XXXX XXXX, XXXX and XXXXXXXX XXXX  as well as XXXX XXXX it is concluded that PNCs Loan Origination Department failed to process my loan application carefully and was therefore negligent in handling my application. 

Also as a PNC customer on another loan, I am extremely disappointed on how this complaint process was handled. Instead of working to come up with some type of resolution on a very obvious mistake on the banks part, their Executive Client Relations Representative baited me to take legal action against the bank, because it is believed that she knew my case was valid. The bullying response to me is reprehensible. A big bank bullies a customer to take on an additional financial burden after losing a rental property that I owned for over XXXX years, an additional {$120000.00} in equity at the time of loan process, at least XXXX  years of future rental income, tax saving and future appreciation gains. 

Here is the information received by other financial institutions and XXXX XXXX : According to XXXX XXXX guidelines for an investment loan application, for which I was applying, at least one borrower must have been on title for at least XXXX months prior to the disbursement date of the new loan. The PNC response was incorrect for an investment loan. I was not applying for a primary loan, I was applying for an investment loan. There were tenants occupying my property for more than XXXX years. I was on title for well over XXXX months, so I would satisfy XXXX XXXX and XXXX Macs guideline for refinancing. I couldnt even do an outright purchase of the property because I was on title, so there was no other option for me to maintain ownership of XXXX XXXX XXXX. XXXX, XXXX XXXX and XXXX all said I would qualify for the refinance, so why not PNC? These banks also follow XXXX XXXX and XXXX XXXX guidelines. 

This is clearly a case of negligence and the banks refusal to accept responsibility. 

I would like an answer to my attached email from a senior PNC representative. Thank you for your help with this matter. 

Sincerely, XXXX XXXX