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PNC Bank, Florence, Kentucky Complaints & Reviews - VA Home Refinance IRRRL

PNC Bank Contacts & Informations

PNC Bank

Posted: 2011-09-23 by    Jessie777

VA Home Refinance IRRRL

Complaint Rating:  100 % with 2 votes
Contact information:
PNC Bank
Florence, Kentucky
United States
I am disgusted with the way PNC handled our refinance. To make a long story short we applied for a VA Streamline Refinance (IRRRL) on our VA mortgage. PNC assured me repeatedly that there was no appraisal required for a VA Streamline Refinance. They then sent their own appraiser who I was told when I called and talked to my loan officer was only looking at the house to make sure that it was intact as we are in a "disaster Zone" according to PNC. I am not sure what they are talking about here as we have never flooded, had an earthquake, or anything like that. I want to reiterate here that I was told repeatedly that and I am quoting here "we are not assigning value and it is not a value based appraisal" I said fine and figured that we were ready to close next week as we had our approval and they said they had all our paperwork. Then surprise surprise, they informed me after a month that our house did not appraise by, get this about $1000 dollars and we need to come up with the difference. My problem with all of this is that they lied to me. I was not informed that they did a value based appraisal until after it was done and they denied my loan based on it. I should also add that the VA told me that a VA appraisal was not ordered by PNC, so I have no idea who they sent out. I am not allowed to see the appraisal, and the loan officer himself has never called to discuss this with me despite the repeated messages I have left for him. I feel what PNC did was dishonest and unethical. I am not even sure it is legal. If they had told me they needed a value based appraisal from the beginning instead of lying to me I could have made a more informed decision and saved a lot of time and hassle. I will be closing my checking accounts with them and moving to a more ethical bank. We are currently attempting to refinancewith another bank that will do our IRRRL loan without an appraisal, lets hope it goes better.
Comments United States Loans
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 26th of Sep, 2011 by   nrsrchd 0 Votes
Well all I know is that if it is pnc then there is most likely fraud in your mortgage, there was in mine so now I am suing them and kicking butt I may add. Should be filing final blows in the next few weeks.

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