Is PNC releasing your client from deficiencies?
I recently closed a difficult PNC. If you search around you will find mix reviews but mostly PNC being difficult to negotiate with and/or get the terms you would like.
They tend to require a prom of cash. Do the loan have MI?
In my experience they do have a system they follow and I have had very responsive negotiators who are on the ball however they have there set directives and that's what they seem to do.
Who's the investor on the loan? Do you have any other Jr liens?
I was able to get full approval, no deficency or prom and we successfully closed with 3% going to buyers costs. The loan did have MI as well. Hope this helps and good luck!
ONly one PNC short for me out here in Palm Springs, CA. It was awful. As stated above, they were very unreasonable, would not negotiate, stuck to their number no matter what. I got lucky with my Seller. Her PNC loan was a second and a HELOC with B of A as the 1st. She decided to keep her HELOC active with PNC to get the Short Sale done (small amount and small monthly payment). PNC still charged her $5,000 for them to approve the Short Sale at all!
PNC Mortgage - NIGHTMARE
PNC Bank - Fantastic (they also have VERY generous "Cash for Seller" programs available)
NO CLUE why, but has been our experience negotiating these for agents!!!
Let me know if I can help - BBenita@comcast.net