PNC Home Equity Loans

I applied for a home equity loan with them and I was not disappointed that I didn't get the loan. I was more disappointed that no one ever contacted me to let me know I didn't. When I called, the staff was not friendly or polite; they just wasted my time. After waiting over 45 days to hear back from them, I finally contacted them, and that is when I found out the decision. They were never going to tell me; they just ran my credit and wasted my time and effort. That's bad business.

I was approached by PNC to reconsider my Home Equity Loan, and the entire deal turned out to be deceptive. They urged me to take advantage of the offer, despite my instructions not to squander my time. We spent hours uploading documents to the "secure portal" which, they claim, they never received, forcing us to send them via email. Later, they informed us we had no equity, even though we currently have the loan and possess eight times the loan amount in equity. They also claimed I didn't meet the "owner-occupied" requirement, despite the fact that I reside in the property. They wasted hours of my time asking for documents repeatedly, assuring me we were "pre-approved" and "almost there," only to send a form letter containing fabricated excuses to deny the loan. I am transferring all of my accounts away from this disreputable bank.

"Previously, on a trial basis for the loan modification at PNC Bank, I received documentation regarding the due dates of payments and the appropriate addresses for sending them. However, I have not received this information in a timely manner for the current payment. Additionally, contacting someone in the PNC Bank Loan Department over the phone is virtually impossible without being disconnected several times.

Unfortunately, I cannot go to a PNC branch to make the payments due to a security issue in Charlotte, NC. I am also hesitant to make a payment over the phone for the following reasons. Please note that this has been an ongoing issue since 2022.

Chinese infiltration of PNC Bank is a concern. PNC Bank's Bank Secrecy Act (BSA)/Anti-Money Laundering (AML) and Sanctions program is a sector within Enterprise Compliance, with the Chief AML Officer reporting directly to the Chief Risk Officer (CRO). The enterprise policy for the program is in line with regulatory requirements and provides governance and oversight of PNC business units. The program establishes minimum BSA/AML and sanctions standards to ensure that PNC offers compliant products and services and conducts business activities in accordance with applicable laws, rules, and regulatory guidance. The Chief AML Officer provides updates to multiple committees throughout the year.

Punishments for international fraud depend on the nature of the crime and the jurisdiction:
- Wire fraud, a federal crime in the United States, may result in up to 20 years in prison and $250,000 in fines. If the crime affects a financial institution, the penalty may increase to 30 years in prison and $1 million in fines.
- Anti-Money Laundering (AML) sanctions violations can lead to severe legal consequences, including fines of up to $20 million and imprisonment for up to 30 years.

Fraud is considered false representation, dishonesty, or deceit, and it can violate both civil and criminal law.

I am a victim of a scam at PNC Bank, involving $900,000 consisting of unauthorized international wires sent from my PNC Bank checking and savings accounts to China. The matter at hand is that I did not authorize the international wires that were sent from my accounts. PNC Bank is also wrongfully accusing me of being involved in the scam and the international wire transactions.

I like the opportunity to have this loan. My experience was completed by a professional and courteous representative who took his time to explain everything in a helpful way.

Recently, my wife and I needed a substantial amount of cash to fund a home repair. We decided to explore the home equity line of credit and chose to apply for one with PNC bank because their interest rates were better than similar offerings with other groups. The PNC associates were friendly and helpful and the application process wasn't too hard...however our troubles began right after the application process was triggered.

Not five minutes after finishing the application, the phone number we used on the form started getting telemarketer spam calls for similar lien/mortgage/line-of-credit products.

It's been two weeks since then and we regularly receive 20 or more solicitation calls PER DAY. The phone number is on the national do not call list, but it hasn't seemed to help.

I even engaged in conversation with one of the solicitors and found out that it was a PNC affiliate (Transunion, used for the credit score check) from which they had received our information.

During the application process there was a box we had to check saying that we agreed to share our information with PNC affiliates so that the proper background checks, home evaluations, and credit checks could be performed. I don't know that the application could have been approved without us authorizing them to share the info. However what has happened crosses a line and is to the level of harassment. Would this have happened with any other bank we chose to work with? Is there anything we could have done to prevent such things from happening in the future?

In my mind, a critical metric for any bank should be how well they handle a person's private information and if they are taking steps to ensure that something like what we experienced should never happen. PNC is a big bank, they could throw some weight to have prevented that. I'm sure they're earning some kind of kickback in partnership revenue shares from Transunion being able to sell our information. I can't accept that this level of exploitation of people in need of a loan should be (or should remain) the norm.

I am sharing this story across multiple platforms/mediums because:
1. I am petty and vengeful
2. Anyone doing research on banks they want to use should be aware of this kind of nonsense

This was one of the worst HELOC process experiences I've ever gone thru. Horrible. Don't go thru the root canal with PNC. First point of contact said it will be an easy process... much easier than any other bank. Nope - not even close. They asked for certain tax forms that my tax firm would have never filled out due to my LLC company. They wanted me to pay off a 0% interest loan vs. focusing the HELOC funding towards a higher rate credit card. They approved and then closed my loan application. The loan processor wouldn't return my call for clarification, went to her manager, called me back - I called back and she never called again either.

Pnc HELOC is an excellent resource for any type of financial aid that can be used for any type of financial growth. The customer care professional did an excellent job in helping me with this matter. Thank you

I would give this company a negative 10 as this is the worst ever to work with. I needed an equity line of credit to buy my deceased fathers home I started Aug 29 was told no problem on 180,000. Just to get told it could take 4-6 weeks for application and to closing. Here we are 17 WEEKS LATER! And they are giving WAY less than stated! Now I’m running out of time and they are wanting to give me $108,000. They LIE and are the most UNPROFESSIONAL Company I have ever dealt with! This bank is a JOKE! Save yourself the trouble shop elsewhere!!!

If I could give them “0” stars I would. 6+ months on a Line of Credit refinance! With >70% equity in the property! >800 FICO score! >$100k/year W-2 income! With an existing business account, mortgage, LOC, and another joint account! All lies, deception and general ignorance! Proof their practice is based on bait-n-switch nonchalant attitude with a lack of urgency. Closing everything and moving elsewhere. Good Riddance!

Good - they provided a pretty low competitive rate
Bad - no one knows what they're doing, when you go to pay it off, they'll provide different amounts (even on the same phone call). After paying it off, in my case, I got another bill in the mail a month later asking for more money. Calling them didn't help sort it, it had to be escalated, and now they want even more money. Which you have to go to a branch.
Also, I've never been able to log into the online portal. Ever.
I'd avoid this unless it's the lowest rate you can get and like to deal with frequent problems