PNC Mortgage Suck Also

Anybody have problems with PNC Mortgage because of uncontrolable events?

I have been working the a person at PNC that calls himself a processor/loan officer for four months on a multi family (commercial type)loan. I worked with him almost exclusively in this process because of a few factors:
he was always available, by email or phone, responded quickly\
understood my loan, went to the property immediately
interacted professionally and and in a friendlly manner
All sounds good,right? Well, this is a siren song to keep you in the loop and seduces you to not deal with "the other guys". He told me the bank wanted loans in the CRA area where my building was, would give me the greatest rate and best valuation because he and the bank needed this loan for their books. I was a great borrower with decades of experience and great net worth and high liquidity. Again, I look great. The only issue was that because of a massive renovation that I funded personally, I only had about 4 months of solid income with the re-leasing.

How come we are a few days from closing and now, and only now despite weeks of requests, I am getting the amount PNC will lend me on my refinance. A promised 75% loan to value minimum is now like 60% meaning I have to bring to closing $100,000 PLUS just to refinance my old loan that was balooning. I was told it was highly likely that the closing costs would be wrapped into the loan ... now, that is not being considered/discussed. The loan documents that my attorney and I have been begging for have still not be produced. They want to produce them a day before closing. Now they are asking for a current survey (another $3000 that we didn't expect), another PNC inspection ($2000), another appraisal for the insurance company ($800) plus the original appraisal ($2600). They timed their continuous requests for documents so that I couldn't go to another lender. They originally offered an adjustable loan that didn't have any prepayment/defeasance issues....now that is off the table for no reason. Now only a fixed term loan with a pre payment issue that could concieveably cost me $100,000 if I terminated the loan earlier than expected. I can go on and on. Basically, I'm telling you don't do commercial/multi family loans with this bank. They might have said it was a 31/2% loan but at closing table you can bet that won't be what is finally offered. I've already decided on only a one year loan term so that I can replace this crappy bank as soon as possible with an FHA product that will take 6 months to get but won't be be this bait-and-switch routine that banks these days feel they are able to get away with. I could start a lawsuit that would cost me $30,000 to fund but they know it will take you 5 years and they have a lot of firepower to crush you. If I was super rich I would do it just to get back at these guys and probably win $1MM.

dricupiI would tell you to RUN away, not walk away. Don't waste anymore time with them .PNC got hoards of maoney in the bail out and they are like dope junkies. They use the money for their own fix. Buying other banks etc... It appears they do not care about helping anyone but themselves. I am telling everyone I know to stay clear of them and I own a restaurant!! Thye have insulted me, irnored me, and just have provided TERRIBLE service. And this is from their District managers and executives. It is obvious they have no fears. They mut be in bed with regulators!!! Too big to fail, is what this gets you! Go somewhere else, just write it off to experience like I did. Mine was a simple loan and they screwed that up too. They are COMPLETELY oblivious!!!!

I'm in a bind myself. My contract of sale expires on July 30th. The underwriter has made it impossible to meet the deadline for arbitrary nonsense. The seller and I have through various hoops for these nitwits, and during this process I ended up with 3 cost estimates in 3 weeks, each substantially larger than the last. And sadly this was a very good deal. The seller did lots of work since I entered into the Contract of Sale - work that didn't even have anything to do with the loan offer. And she gave up her commission. It really was a great opportunity for me, and I have excellent credit. However, the underwriter has imposed one ridiculous condition after another. I had turned down other loan offers - enticed by the FIRST cost estimate and advice that it would be so much easier to use PNC because they already had my bank records and checking information, and it would be more "streamlined" because Id just be dealing with a couple of people. That certainly was just a ploy. Well, anyway - long story short - after two appraisals - the second of which verified that carpeting mentioned in the first that "is dirty and shows it may have a possibility of mold" had been removed, the cellar that had a window open that made the cellar damp directly beneath it was drylocked, the place was scrubbed down from top to bottom, the floors refinished, etc. - anyway long story short, the second appraisal claiming no evidence of mold was just an exercise in futility - an expensive one. Still we have to find a "mold specialist" to examine the house and provide the underwriter with a certification. I wonder if he's wallpapering his cubicle with these idiotic certifications that don't get mentioned in two out of three cost estimates. And I just obtained a roof certification I doubt he'll accept it. After all, the roof is in good shape, but the shingles have a life expectancy of ten years, and this is a 15-year loan. A loan that is for less than some loans for cars since I'm making a substantial down payment. If I'd gone with the other lenders, I wouldnt be living in this PNC nightmare.