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**We are not affiliated with any mortgage servicer, the investor/beneficiary of your mortgage note, the mortgage insurer (if applicable) or any government agency. We are a homeowner advocacy group with more than a decade of helping homeowners and professionals with mortgage assistance negotiations. The information found on this page is for educational and convenience purposes only. The information found on this page should be considered as opinion and not fact based on our experience with lenders over 10+ years. Consult your mortgage servicer directly or a professional before using any of the information found on this site. If you are seeking an intermediary to assist you in getting help with your mortgage you may contact us at 888-934-3444 or via email at [email protected] for further review for a no fee, no obligation, consultation. If required you may be referred to a local professional or legal counsel for additional assistance with your mortgage. Please read through our Disclaimer page for additional details. We do not represent in any way any financial institution named on this page. If you feel that any of this information has become outdated or is incorrect please contact us immediately.**
PNC Mortgage Loan Modification RMA Form Application Package
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Step 1: Fill Out PNC Mortgage Loan Modification Package
What is in PNC Mortgage Loan Modificaiton Package?
PNC Mortgage Loan Modification Request For Mortgage Assistance (RMA)
If you want to get a Loan Modification from PNC Mortgage the first thing you have to do is to submit a completed Request for Mortgage Assistance(RMA) Package. Using latest paperwork is always a good choice. Consulting a professional before submitting any documents will be a lot helpful and finding the right one who can properly help you with the process is very crucial as there are a lot of professionals to choose from. To help you we have put the latest paperwork on our website because that is what we do as a company we help people get Mortgage Relief from the lenders. Click here to request a call from a loan mod pro or call 888-934-3444.
What is the PNC Mortgage hardship affidavit?
PNC Mortgage Hardship Letter
PNC Mortgage has a Hardship letter affidavit built into their application which states your hardships,
Pro Tip: When reviewing you for a modification approval PNC looks for your original reason for defaulting or RFD. If the RFD has not been cured (hardship) has not been resolved in many cases the will not be able to help.
Real Estate Mortgage Loan Modification Definition
What is a loan modification?
It is necessary to know difference between loan modification and Refinance. Loan Modification cannot be considered the same thing as a refinance because refinance is when you get a second loan to pay off your first one. When you are doing a loan modification you cannot combine your previous loans. While doing a loan modification we will work with you and your lender to get the terms of your loan modified.
What terms can I change on my mortgage with a loan modification?
Thinking outside the box is not possible for the banking industry. For this reason the terms you can get modified get very limited.
Interest Rate Modification
Most people want to modify is their interest rate. To reach affordability the servicer will push based on your income.
Loan Term Adjustment Mod
Payments can be decreased by extending the loan length but this is not the right way as people have noticed them adding payments to the beginning of the loan. You cannot extend the loan length of your missed payments. The company will extend the loan back to its original length of 30 years in most of the cases. We have seen as much as 50 years, but as 30 years is the norm, any extension beyond is generally no more than 40. Beneficiary of the note and the limitations they set completely control this.
Principal Capitalization and Principal Reduction Modification
Principle Capitalization will be when the lender will take any arrears that you owe them which include past due payment, interest, and fees later adding them to the outstanding balance of what is owed. In rare cases that are generally dictated by the amount of perceived equity in the home (or lack there of) the investor on the loan may be willing to take a reduction on the principal owed
Step 2: Submit Loan Modification Package To PNC Mortgage
PNC Mortgage Loan Modification Submittal
Getting Your Forms Submitted To PNC Mortgage To Get The Process Going. What is in the PNC Mortgage Loan Modification Package?
Usually the following documents are required to PNC Mortgage and are required by all the lenders. You will have to provide your financial information to you servicer such as a monthly budget, your tax returns for the last two years along with a 4506t to show the returns were actually filed, pay stubs or proof of income like a profit and loss, bank statements, reason for requiring to do a loan modification, and a hardship letter.
Pro Tip: Working with our professionals should allow you to be able to pick out the documents your servicer PNC Mortgage will need. When your mortgage company requests items after they’ve started their modification review process they passed over sending your file to the next stage.
Step 3: PNC Mortgage Loan Modification Broker's Price Opinion (BPO) or Appraisal
PNC Mortgage Loan Modification Value
Getting The Right Value Goes A Long Way.
The lender will first balance out all the options that are available to the homeowner. There are many methods to do a valuation including in which the valuation is done online. In some cases a value is completed by a real estate agent, In this type, the broker compares the properties in the area. The broker may want access to the home to do an interior valuation. In some cases only a drive by is sufficient. It doesn’t matter which type of valuation they are doing, they will compare properties that are currently listed and which have been sold recently. They consider the homes perceived condition, the size of the living space, the size of the lot, how many stories it has and whether or not it has a pool. They will also consider market conditions and how fast homes are selling in the area. There are many factors they take into consideration.
PNC Mortgage Loan Modification Appraisal
Loan Modification Appraisal Values
The investor will require a valuation in most cases and for this the lender will get a valuation done on a computer called Automatic Valuation Module (AVM). Due to prohibited costs the investor will rarely hore a broker to do a valuation. The investor will in even rarer cases hire an appraiser to get appraisal. The homeowner may be required to pay upfront fees in some of the cases for these services.
PNC Mortgage Value Disputes and Variances
Filing Value Disputes and Variances
A value returns too high or too low as mistakes can happen from both the rookies and professionals. If this happens, you may have to deal with a value dispute. Depending on who the investor is or if it’s insured there may be different processes for filing disputes with PNC Mortgage or another managing entity.
Step 4: Net Present Value (NPV)
NPV and how does it work?
PNC Mortgage’s Net Present Value or NPV Process and Analysis.
After the value has returned that the lender will make a decision to send file for the loan modification or not. Usually before the submission to management there is an auditing process and if approved there is often another auditing process the occurs before an approval letter is issued.
PNC Mortgage NPV Counters
NPV stands for Net Present Value. Basically NPV is an algorithm that the investor uses to get the value for their money. This is also not a stable value. It changes from day to day. The investor will look at two seperate homeowners and try to figure out where they can get more profit. As usually the loan modification clients are behind in their payments the investor will have to figure out whether taking the owed amount and extending the loan is even worth it or not. Homeowners have to know that when the numbers don’t add up for the investor that is when they are most likely to get declined.
Modification Decline Appeal
PNC Mortgage NPV Counters
It is an easy thing if you want to counter the PNC Mortgage NPV the only thing you have to do is figure out which parts do not make sense and act on those. You should look carefully at each point and try to figure what the ideal output should be. The most typical are incorrect income figures but it could go beyond that to things like the property’s perceived value and even in some cases the consumers credit report.
Step 5: Loan Modification Approval
Trial Payment Plan
Three Payment Plan
PNC Mortgage will sometimes put you on trial payment plan if you have been approved for the Loan Modification from them. You will not know what the finalized terms will be that they are offering you but the final payment should be inline with what you will be paying for the mortgage at least at the onset of the new plan.
Finalized Loan Modification
PNC Mortgage Modification Complete
There is finalization process before they complete the loan modification process.In case you are currently on the trial payment plan then the new term documents will be sent out somewhere between second and third trial payment. They usually come with a prepaid package to return the documents to the lender. Once the documents are returned and the loan modification goes through the final audits with underwriting the master loan documents are amended to show the new terms of the loan.
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How Does ACG Get Paid?
We can help you by speeding up the process of Loan Modification by working with your lender. No upfront fees are charged by us for this service and you will have to pay us only when you have accepted the new terms and if you get denied later after having been approved you will not have to pay anything. Call for details 888-934-3444.
Understanding The PNC Mortgage Loan Modification Status
If you ever have to deal with PNC Mortgage before you will have noticed from the experience that they are not much easy to deal with. PNC Mortgage are not serious in making the process even a little simple for PNC Mortgage but this is the main reason ACG is here to help you in getting the Loan Modification from your servicer that you and your family deserve.
PNC Mortgage Help For Consumers
ACG has a team that can work with you to get the Loan Modification from your lender. You will have to contact only us and then you will not have to deal with PNC Mortgage for getting any Mortgage Relief. Working with us will get your process going a lot faster and easier.
Call Us 888-934-3444 Today.
PNC Mortgage Loan Modification Breakdown
What is the PNC Mortgage Loan Modification Package?
If you want to get your loan modified serviced by PNC Mortgage then you will be required to submit package called PNC Mortgage Request for Mortgage Assistance (RMA). It depends on who the investor is so you should take care to submit the latest paperwork according to the investor; If you can consult the either PNC Mortgage or a professional it will be better for you. We have put the latest paperwork that we found on the website. ACG helps homeowners with their PNC Mortgage Loan Modification process.
There are 14 Sections to the standard PNC Mortgage Loan Modification Package.
Need Assistance With A PNC Mortgage?
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PNC Mortgage Loan Modification RMA Package PDF Breakdown:
Hardship Affidavit Application Check List
- Borrower Information This first section covers the basic information of the PNC Mortgage borrower’s applying for mortgage assistance. You need the information for all the borrowers that appear on the mortgage on this page in order to complete the application. It covers whether you want to keep the property or sell it. Furthermore, they establish if this is your primary residence, second home or an investment property. Each type of property may carry it’s own type of options for assistance. The clarify the number of residents in the property and the residency type amongst other things.
- Customer, Credit Counselor (HUD), Bankruptcy, and SCRA Servicemembers Civil Rights Act Information In this area you fill out some basic information as well such as your loan number. There is a section that asks if you have been speaking to a credit counseling agency what their number is and who is the person you spoke to. They also try to clarify if you have filed for bankruptcy so they can get you to the right department and follow the correct protocol. Finally, If you’re on active duty this section is for you. On the hardship application they try to get your basic status if you have been deployed or not.
- Power of Attorney The third page asks you to include any power of attorney attached to the package for their files.
- Property Details (Listing) This section starts off by asking if the property is currently listed for sale. It also includes a third party authorization and approval to speak to any one that is representing the property.
- Property Details (Offer Received, HOA and Taxes Details) (Continued) The page that follows in the hardship application for mortgage assistance is whether or not an offer has been received. If your property is not listed for sale this section doesn’t apply to you but there are some parts that might. This area also covers whether you have a HOA (Homeowner’s Association Dues) and whether your property taxes are escrowed into your account along with what the annual amount is.
- Property Details (Additional Mortgages) (Continued) The property details sections in the request for mortgage assistance by asking what other mortgages may be on the property and their contact information.
- Property Details (Use Of Property) (Continued) The property’s use is further clarified in this section. They find out if it’s vacant or rented along with whether or not it shows up on your tax returns. They ask you proof of it being rented including two month’s bank statements showing the deposits and the lease agreements. At the bottom of this page they ask whether there is a loan on your primary residence, who you make the payments to, if you are delinquent on that mortgage and if you are are behind on your mortgage how many payments that it’s behind.
- Hardship Details, Documentation and Written Explanation (Start Date and Hardship Check boxes) This is where PNC Mortgage really starts trying to get to the meat of the situation. They try to establish when the hardship began and what the hardship is by providing a series of options for the borrower to check.
- Hardship Details, Documentation and Written Explanation (Hardship Length Expected and Written Hardship Letter) This area allows you to advise PNC Mortgage of how long you think you will be affected by the hardship. They ask that you write financial hardship letter in the area provided but if it’s not enough room you can always add additional pages.
- Income Documentation (Financial Breakdown) PNC Mortgage Hardship Package Income Documentation Section – This area gives you very basic form to fill out all the different forms of income you have in the first column. The next column gives you again very basic place for you to summarize all the different monthly expenses you have. Lastly, in the column on the right you have a place to document all your assets. This is one of the most important parts of your hardship application because when it comes to mortgages it’s all about the numbers and your ability to afford the payment being given to you.
- Income Documentation (Supporting Documentation) (Continued) The next two pages of PNC’s Request For Mortgage Assistance (RMA) Form is a breakdown of the different income types and the type of proof of income that they require for each.
- Income Documentation (Other Properties Owned) (Continued) This section requires the homeowners to list any other properties owned and the details surrounding those properties.
- Borrower Acknowledgement This has a series of disclosures that are required to be signed by the borrower and co-borrower in order to apply for mortgage assistance.
- 4506T – The final document required prior to the fax cover letter provided is the 4506-t which is used in order to verify the tax returns that you provided. Make sure to follow the directions throughly.
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Disclaimer: Using The Wrong Form May Lead To A Denial
We provide mortgage servicers mortgage assistance package, forms, and applications to for educational purposes only. This is a sample document used to obtain mortgage assistance relief workout programs with your mortgage servicer. Prior to completing the form contact your (your client's) Mortgage's servicing department OR one of our professionals at 888-934-3444 to make sure they are sending the right loan modification or short sale package. Your home loan servicer, whether dealing with a Home Loan Modification or Short Sale (mortgage settlement, short pay off or discounted payoff) RMA Package offered on this website may not be the correct package depending on your investor. By downloading this RMA (Request for Mortgage Assistance) from our website does not guarantee loan modification assistance or any other mortgage relief programs to try to avoid foreclosure through mortgage servicer, its agents, employees, affiliates or subsidiaries. Prior to the use of any documents you should consult an attorney.