Consumer complaint received 2020-02-08
Product: Mortgage — Conventional home mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage — 
Company: PNC Bank N.A. (DC)

The complaint is about PNC Bank and the delays with underwriting and Closing date of a new mortgage loan with PNC Bank, reference. The mortgage was initiated in XX/XX/XXXX and pre-approved in XX/XX/XXXX. As of this date, financing on the new loan is not complete. 

Rate-Lock Period Start Date : XX/XX/XXXX Rate-Lock Period Expiration Date : XX/XX/XXXX Interest Rate : 4.375 % Loan Points : 0.675 % Amount of Loan* {$370000.00} Term of Loan* 360 Loan Type : Conventional Fixed The PNC Bank ( NMLS # XXXX ) representative involved were : Loan Underwriter ( XXXX XXXX ) , PNC Loan Officer ( XXXX XXXX XXXX ) , and PNC Representative ( XXXX XXXX ) . The underwriters were changed on two separate occasions. 

PNC Bank XXXX XXXX XXXX XXXX Washington, DC XXXX ( XXXX ) XXXX ( office ) We experienced numerous delays with the PNC loan process. We received numerous requests for the same documents ( pay stubs, bank statements, etc. ) from PNC Bank representatives : 1. TSP retirement act expired on XX/XX/XXXX. Need updated statements covering XX/XX/XXXX through XX/XX/XXXX 2. Request explanation for the following : regarding payments out of XXXX XXXX to Treasury Department, DC Gov't payment and IRS USA tax payment. Also provide verification docs of repayment and proof current per policy 3. Request explanation for the following : regarding overdrafts in XXXX XXXX acct in XX/XX/XXXX and XX/XX/XXXX 4. Provide a copy of the current lease for the subject property or provide a letter of explanation if a lease is not available. If no lease is in existence borrower to explain and also certify in letter what they currently charge in monthly rent to the tenant ( s ) 5.  XXXX : I do not see an LOX regarding the payments out of the bank act to Treasury Dept, DC Govt pmt, and IRS USA tax pmt. I see a document which shows some of those charges were for a paid ticket and possibly a future payment on upcoming taxes due? But cant match them all up and still need an LOX and supporting docs. 
6. XXXX : missing pages 9 through 12 of lease and also the lease expired. Need all pages of the fully executed current lease or proof the most recent expired lease has been extended. If the lease was not extended and there is no current lease in effect will need a signed/dated LOX stating what he charges for rent or what he would charge if its not currently being rented. Also please have the help desk remove the document uploaded on XX/XX/XXXX at XXXX CST from the XXXX as it includes a photo ID. Please re-upload any applicable pages without the ID. 
7. NEW CONDITIONS ADDED : SEE BELOW : XXXX : Provide TSP quarterly stmt covering XX/XX/XXXX to XX/XX/XXXX and provide terms and conditions of withdrawal evidencing borrower has access to withdrawal amount needed for reserves *** ( The stmt in file ending XX/XX/XXXX expires today and the one in the XXXX coded as XX/XX/XXXX is not for XX/XX/XXXX. It is a year end stmt for XX/XX/XXXX. ) 8. XXXX : Updated stub for XXXX for pay period ending XX/XX/XXXX was uploaded with Other leave noted. Borrower to provide stub for pay period ending XX/XX/XXXX to evidence full pay period with no other leave unless other documentation can support its not temporary or medical leave *** If it is temp/medical leave and if he still on it, addl conditions will apply. ( I was able to verify on employer website that annual leave is same as vacation but couldnt find anything documenting what other leave is for so I have to assume it is medical leave at this point & if it is income will need to be recalculated & we will need addl docs per investor guidelines While the home buying process can be stressful and overwhelming, having a competent, engaged mortgage loan officer/under writer can make things infinitely easier, smoother and most importantly more enjoyable!