Consumer complaint received 2022-10-22 00:00:00
Product: Mortgage — Home equity loan or line of credit (HELOC)
Issue: Applying for a mortgage or refinancing an existing mortgage — 
Company: PNC Bank N.A.
State: NJ

Complaint narrative:
On XX/XX/22, I applied online at PNC.com for a home equity loan with a fixed interest rate of XXXX percent which was advertised on their website. On that same page there was a link to apply for a loan which led me to believe that I would be getting a home equity loan with that fixed rate therefore I applied for the loan. The online application required me to upload several documents such as pay stubs, mortgage statements, and home insurance declarations page. On XX/XX/22, I was received an email from a PNC loan processor named XXXX XXXX XXXX XXXX who said that she will be processing my loan application. XXXX XXXX asked that I upload 2 forms of identification as well as my mortgage statement at which time I did for a second time. A week later, I have not heard from XXXX XXXX and left her a voicemail to check on the status of my application. XXXX days later XXXX XXXX called me and confirmed that she received the required documents, and she then emailed me several pages to electronically sign at which time I did. On XX/XX/22, XXXX XXXX sent me an email advising that the home appraisal was completed, and that the application will be sent to the underwriter. On XX/XX/22, XXXX XXXX sent me an email stating that my application is complete and will be sent for closing. On XX/XX/22, I have not heard anything on my closing and called XXXX XXXX to see what the status was. XXXX XXXX extension as going to her a voicemail, and I left her message inquiring about the status of the closing. Several hours later I still have not heard from XXXX XXXX, I then called the customer service and requested to speak to a supervisor. I was advised that a supervisor for the team assigned to my loan application name XXXX was in a different time zone and that a message will be left for him to return my call. By the end of the day XXXX never called me. On XX/XX/22, I called the customer service number and asked to speak to XXXX and again was old that he would return my call later in the day. I then requested to speak to another supervisor since XXXX was not returning my call, the agent informed me that another supervisor was not available and that my application will be escalated. On XX/XX/22, I called the customer service number and spoke with a loan processor name XXXX XXXX who told me that PNC has requested my insurance agent add PNC to the mortgage clause as well as a paid in full receipt on my insurance policy. I called my insurance agent and asked if the clause and receipt can be sent to me. My agent told me that PNC requested the documents a week ago and those documents were mailed. I told XXXX XXXX of this, and she asked me to forward a copy of the documents to her email and to another loan processor named XXXX XXXX at which time I did. On XX/XX/22, XXXX XXXX replied to my email confirming receipt of my insurance clause and receipt and will have the file completed by the end of the day. On XX/XX/22, I called the customer service number and asked to speak to XXXX XXXX, I was advised that she was not in the office. I asked the agent if she can check to see if the insurance documents were placed into the file and she told me that the insurance documents were not received. I then requested a supervisor, and I was again told that a supervisor is not available and that I should contact XXXX XXXX who is the assigned loan processor. I explained to the representative that XXXX XXXX has not been returning phone calls or emails and insisted on speaking to a supervisor. Later that day a supervisor name XXXX called me and told me that XXXX XXXX is no longer with PNC. I expressed my concerns with XXXX that I sent XXXX XXXX several personal documents and now she is gone before completing my loan application. XXXX told me that she would have XXXX XXXX supervisor XXXX will call me back. On XX/XX/22, I still have not heard from XXXX and the closing of my loan never happened as promised. I called customer service to inquire on the status of my loan and the representative told me that PNC is currently paying off a couple of my loans. I told the representative that I was not aware of PNC paying any loans and that I never signed anything agreeing to this. The representative told me that a loan processor will call be back later in the day. 
At XXXX XXXX  a loan processor name XXXX NMLS XXXX called me and told me that PNC needed a payoff statement on a car loan I have as well as a zero-balance letter for a credit card to close on the loan. XXXX said that she will call me later in the day XXXX XXXX  to begin the closing process. At XXXX XXXX  XXXX called me to begin the closing process and to schedule a day for me to sign the closing documents at a local branch. I asked XXXX to confirm the interest rate and she told me that the rate is going to be XXXX percent. 
I advised XXXX that on XX/XX/22 the advertised rate was XXXX percent and was under the impression that was what the rate was going to be. XXXX told me that rates have gone up since then and that is the rate for the loan. I expressed to XXXX that at the time I applied the rate was XXXX and the loan was due to close in XXXX until XXXX XXXX abandoned my loan, my process was delayed several weeks. XXXX said that she will make note of the situation for the customer suggestion. On XX/XX/22, I received a call from PNC corporate who asked me to explain what happened. I told the representative about the issues I have had. He offered to have me reapply for the loan, but the interest will be XXXX percent. The representative then asked me if I had anything printed that said what the rate was on XX/XX/22 and I advised him no. He then told me that he will take my situation under consideration for the future and thanked me for speaking to him. I did find a document that was published on XXXX XXXX from XXXX wire that confirms that the PNC rate was XXXX percent. 

On XX/XX/22, PNC advertised a rate of XXXX percent for home equity loans, and I applied that day based on the rate that was being offered. Since I applied the loan processor assigned to my loan stopped processing my loan delaying the process. At this point I had no knowledge of what was going on with my loan. I have made several attempts to inquire the status of my loan and was given a different answer each time I called. Numerous requests were made to speak with a supervisor named XXXX was told that he would call me back, but he never did. Various personal documents such as mortgage statements and insurance clause were misplaced, and I needed to send additional copies. The PNC mortgage department is clearly a dysfunctional operation, and the incompetent staff severely delayed my closing process. If XXXX XXXX would have completed the process as promised the loan would have been closed prior to the interest rates going up.

Company response to consumer: Closed with explanation