Consumer complaint received 2022-01-28
Product: Mortgage — FHA mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage — 
Company: PNC Bank N.A. (FL)

On XX/XX/XXXX I went to a PNC branch near my house in XXXX XXXX to make my first escrow deposit on this house that I plan on buying. I already had a lender that I was working with and who was going to lock me at a 3.1 % interest rate with a lender credit of {$3000.00}. I felt like this part of my purchase was set until I entered PNC on that day and an employee insisted that I speak to their mortgage loan officer since she believed he could beat the 3.1 % interest rate that I was getting from the other lender. 

Since I have been banking with PNC for over ten years and NEVER had customer service issues with them, I gave this PNC loan officer a call. This guy XXXX XXXX  XXXX XXXX ( PNC loan officer ) promised me an FHA rate of 2.875 % or a Conventional rate at 3.25 % and a PNC Grant of 5k, with no points and no origination fees. He promised that they could close on time and that I would even get a credit of {$690.00} towards my closing costs. We went back and forth over the phone and email on the night of XX/XX/XXXX because those numbers sounded very good and had me considering leaving my original lender ( who also agreed that those numbers are better and to have PNC put all of this in an email I true. ) I then asked XXXX if he could write all of this in an email and he did. That same night I dropped my lender who had locked me at a rate of 3.1 % and agreed to give my business to PNC. Everything was going well between PNC, my realtor, and the title company, and I was excited that I found not only a better rate but also more money to go towards my closing costs. 

Fast forward to XX/XX/XXXX, I received a text message from XXXX stating that " your loan was approved but the underwriter was not able to approve the 5K grant nor the points discount as you can't own properties at closing. I tried pushing for you to get it but PNC won't approve. '' He continued " Side-note '' : I am in GA up in the mountains with very bad reception. '' I originally told XXXX on XX/XX/XXXX from our first conversation that I purchased a condo as a vacation home ( second home ) in XXXX. He never said anything about this being a problem for me to get the 5k grant and points discount. 

I felt beyond disappointed and was actually angry which I never get but I really felt like I got bamboozled by PNC, kind of like a bait and switch. I notified my realtor and she even contacted XXXX by email saying that PNC really dropped the ball on this and that she still thinks he can fix this. XXXX 's response was pretty much like I'm sorry I messed up but take it or leave it. I went forward in the email thread telling XXXX to cancel the appraisal until this issue can be solved but of course, XXXX goes and cancels the whole mortgage application which of course cancels my locked rate of 2.875 %. 

The next day I start making some phone calls regarding this matter in hopes that PNC can turn around and do the right thing by fixing the problem. After a couple of days passed and mind you, the rates are slowly creeping back up, I received a phone call from XXXX 's supervisor XXXX XXXX on XX/XX/XXXX who basically tells me that XXXX screwed up and all they can offer me is an apology. He confirmed that XXXX canceled the mortgage application ( without my consent ) and that I would need to go back and start from the beginning with PNC. XXXX said that he would call me the next morning and promised me to have one of his " best people on top of this for me '' and would make this right. ( Whatever that meant ) I waited for XXXX 's phone call the next morning and nothing. I did receive a phone call from XXXX who again apologized for misleading me with false information and said that if I stay with PNC he would include his 0.50 points of commission towards my mortgage. By that time the rates were already up and the best rate he could offer me on XX/XX/XXXX was 3.375 % ( points 0.175 ). I was again disappointed because the 2.875 with XXXX points that they originally promised was now at points 2.050. I told XXXX that I would be interested in getting a 3.125 % ( 1.175 points ) minus his discount of 0.50, which would have left me at 0.675 in points which he said he could see if he could have PNC pay for to keep my business. ( Again, he lied ) The following week on XX/XX/XXXX XXXX sent me the loan estimate and of course, does not include the 0.50 point discount that he promised and locked me at 3.375 % and would give me a lender credit of {$270.00}. Again, this guy lied, and when I got him and XXXX XXXX ( his supervisor ) on the phone, they both just kept lying and said that this was the best PNC can do and pretty much to take it on cancel the loan. 

At this point, anywhere I would go for a mortgage they would need to run credit again and I would be stuck between a 3.375 % rate and 3.5 %. XXXX made me lose on a good opportunity to get 3k worth of lender 's credit from my original lender by promising me this 5k grant and discount points from PNC. When he apologized for his mistake I again put faith in PNC to make this right but was lied to AGAIN, this time by XXXX and his superior XXXX XXXX. 

This has been by far the worse experience of my life and the fact that this happened in the United States by a reputable bank like PNC makes this even more sickening. Everyone that I have told this story to is just astonished and does not feel like this was well handled by PNC. 

So this was my experience trying to purchase my first house with PNC, please be aware that all of them just lie and are masters at baiting and switching.