Consumer complaint received 2021-10-29
Product: Mortgage — Home equity loan or line of credit (HELOC)
Issue: Closing on a mortgage — 
Company: PNC Bank N.A. (FL)

My complaint is around misleading sales practices, failure to disclose, and failure to adequately perform duties associated with processing of the loan. 
Misleading sales practices : I called PNC bank on XX/XX/2021 inquiring about their Home Equity Line of Credit product as I had a few questions about the loan terms. I spoke with XXXX XXXX XXXX ( XXXX ID XXXX ). He answered my questions and I informed him I would apply online so the application would get routed to a local loan officer. XXXX told me if I apply through the website the application would just go to a loan processor and would not get the attention of a loan officer and said I should apply through him as he would give it the attention it would need. XXXX did not provide the level of service I was sold on and I realized going through the loan process that XXXX likely sold me this misleading level of service so I would apply through him so he could get the sales credit. XXXX replies to my inquiry were short and would partially address my questions/concerns. It was clear XXXX had no intention of helping facilitate the loan process. Most of my interaction after the application was with XXXX XXXX ( NMLS ID XXXX ). XXXX was unable to adequately get me through the loan processing, which I will describe in more detail later. XXXX was of no help either as his response indicated a disinterest in helping resolve any issues. 
Misleading sales practices and failure to disclose : During the application process I provided all the relevant information to make a credit decision, personal information, information on assets/liabilities ( via self disclosure and credit pull ), credit score, estimated valuation on the home being secured by the loan, and loan amount requested. At this point I would have expected a disclosure on the interest rate spread over prime I could expect. This was not disclosed and the interest rate was left off of the disclosures provided. I reached out to XXXX several times asking for the disclosure on the interest rate and after avoiding the question on several attempts, provided some canned answer about needing the valuation. I have applied for several HELOCs/Mortgages now and each time, outside of this one, the financial institution was able to provide an estimate of the interest rate pending validation of key factors. After being in the process for 3 months and still not getting XXXX XXXX XXXX the interest rate, even after they had received a valuation on the property ( which I ended up contesting and requesting a full appraisal ), they still would not disclose the interest rate. After I pressed XXXX on this a few more times, he informed me that they do not disclose interest rates over email and told me I would receive a disclosure in the mail. I never received the disclosure. The interest rate should have been disclosed up front. My assumption is that XXXX did not want to disclose the interest rate until we were months down the road so I would have to accept an uncompetitive offer. 
Adequately perform duties associated with processing the loan : PnC, XXXX, and XXXX collected a lot of personal and financial information, yet were unable to successfully process the loan within a reasonable amount of time. I promptly provided any documentation they needed. After 3 months there is still no resolution or ending in sight. XXXX and XXXX have shown no interest in progressing the loan or resolving any of the bottle necks. Not once did I receive a call from either of them throughout the process informing me of status or what needs to be done to progress. I would provide information or documentation and XXXX would reach out requesting the same information already provide at an earlier point in time. Since the initial valuation on the property came in low and did not consider my pool I had just installed, I requested a full appraisal. As a condition of ordering the appraisal, XXXX made me provide information on sales of comparable properties, something that is public knowledge that she could have done herself as a service. I am not an appraiser/loan processor so why would I be required to provide this information? This demonstrates their terrible customer service. Once the appraisal was order I was contacted by an appraiser who came to the property, took pictures, and documented information about the property. A little while later I get a call from another appraiser requesting access to the property to conduct an appraisal. When I contacted XXXX and XXXX they clearly did not want to take the time to understand the situation and gave me canned answers to why the appraisal needs to happen. Not helpful whatsoever. What happened with the pictures and the information from the first appraiser? Someone came into my home and collected information on my home and PNC has no record of this, hence the second appraiser who reached out to me. I have never experienced such incompetent uncaring people in the loan/mortgage business.