Without any info about your project, the PSD file in question, your system and so on we can't tell you much. The render always getting stuck at the point where the PSD comes in clearly indicates that there is an issue with the file itself. Maybe it's too large, maybe it is damaged, maybe it uses an unsupported feature. At the very least open it in PS and re-save it after checking that the file is intact and things like the document color mode are set correctly. Anything beyond that will require much more detailed info.