BluegrassForeclosure.com

Comments from PNC’s 4Q report:

“Now, let me talk briefly about credit availability. PNC remains committed to responsible lending. We recognize the vital importance of credit to our country’s economic growth and we continue to work closely with main street businesses and consumers during these financially difficult times. In fact, we originated and renewed more than $110 billion in loans and commitments in 2009.

For homeowners, our goal is to avoid foreclosure where appropriate and we’ve been expanding our use of short sales as one tool to help consumers. Additionally, we’ve completed nearly $0.5 billion in refinances through the end of the fourth quarter under the home affordable refinance program and we’ve sent out more than 70,000 workout packaged to troubled borrows under the home affordable modification program.

On the commercial side we continue to call our small businesses and corporations. We have stepped up our efforts and are giving a second look to credit requires given the importance of credit to the economic recovery. As a result, we originated and renewed nearly $4 billion in small business loans in 2009 and we continue to be a leader in loan syndications, arranging nearly $14 billion in business loans for the full year.”