PennyMac Loan Services

As previously explained, upon receipt of the Revdex.com notification, our office intervened to ensure that Ms. [redacted]'s concerns were properly addressed.  Once again we would like to apologize and express our regret for the inconvenience and frustration that she experienced while trying to resolve her concerns with our Customer Service Department.  
 
Ms. [redacted]'s comments and concerns are are greatly appreciated as they will assist us in improving the level of service expected by our customers.  PennyMac's Senior Management was apprised of Ms. [redacted]'s feedback and experience.
 
As Ms. [redacted] confirmed, she is in receipt of her refund and PennyMac refunded her the service fee she was charged by her financial institution.
 
Thank you for allowing us the opportunity to respond to Ms. [redacted]'s concerns.

Thank you for bringing this matter to our attention and allowing PennyMac Loan Services, LLC ("PennyMac") the opportunity to review and respond to Mr[redacted]'s concerns
"text-align: justify;">PennyMac strives to provide superior customer service and respond to all inquiries in a timely and professional manner. Please allow me express by regret and apologize for any inconvenience and frustration that Mr[redacted] may have experienced while trying to address his concerns with PennyMac. His comments and concerns are greatly appreciated and be assured that Senior Management was apprised of his feedback
A thorough review of the loan was completed as it relates to the information Mr[redacted] received regarding the payment of your property taxes scheduled for September 2013. Please be advised that PennyMac received information from Mr[redacted]'s Taxing Authority of an unpaid supplemental tax bill on May 14, PennyMac was advised that in order to disburse the payment of the pending property taxes, the supplemental tax bill had to be paid prior A disbursement was issued from Mr[redacted]'s escrow account prior to PennyMac disbursing the payment of his secured property taxes due
As a result of the payment of the unexpected supplemental tax bill, when Mr[redacted]'s loan was analyzed, the additional disbursement created a shortage in the escrow account that caused the increase to the monthly payment Regrettably, Mr[redacted] was misinformed as to the type of disbursement processed on the loan The amount paid was not a fee assessed to the loan, but a payment of property taxes PennyMac would not be able to waive or reimburse the account for such a transaction
Please be advised that PennyMac is in the process of providing Mr[redacted] with a detailed and substantive response that will address all of his concerns A letter will be mailed to Mr[redacted] under separate cover with our substantive response

Complaint: 11706968
I am rejecting this response because: I did not receive any contact from PennyMac. I resolved the issue myself, on 9/16/16, after additional phone calls and insistence on having this resolved. I am still pursuing any options available to move my loan from PennyMac, as their customer service is unknowledgeable and their tax department is clearly a disorganized mess.
I still strongly recommend any other consumers to find another lender, if possible, to save themselves from the bureaucratic nightmare I dealt with.
Regards,
M[redacted]

PennyMac Loan Services, LLC, (“PennyMac”) strives to provide superior customer service and process all transactions in a timely and accurate manner.  Thank you for forwarding Ms. [redacted]' concerns to our attention and allowing us the opportunity to respond. Our office spoke with Ms....

[redacted] on February 10, 2015, to confirm receipt of the notification received from Revdex.com.  Please be advised a PennyMac Priority Complaint Specialist is in the process of conducting a review, in order to address Ms. [redacted]' concerns.  We appreciate Ms. [redacted]' patience while PennyMac continues our review.  Ms. [redacted] has been provided the direct contact information for a Priority Complaint Specialist, should she have any questions or concerns in the meantime. Upon the completion of our review, a written response will be mailed to Ms. [redacted].PennyMac values and protects its customers’ confidential information.  Due to privacy reasons, we will refrain from posting any personal information to the Revdex.com site as we do not disclose our borrowers’ personal information.

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID 9921015, and find that this resolution is satisfactory to me.
Regards,
[redacted]

Thank you for bringing this matter to our attention andallowing PennyMac Loan Services, LLC (“PennyMac”) the opportunity toreview and respond to Mr. C[redacted]’s concerns.PennyMac strives to provide superior customer service and respond to allinquiries in...

a timely manner. Mr. C[redacted] was contacted on August 5, 2015,and was provided with the direct contact information for therepresentative assigned to his account.  PennyMac is currently in theprocess of researching his concerns, and letter of explanation will be sent toMr. C[redacted] under separate cover.PennyMac values and protects its customers’ confidentialinformation.  Due to privacy reasons, we will refrain from postingany personal information to the Revdex.com site as we do not discloseour borrowers’ personal information.

PennyMac Loan Services, LLC,
(“PennyMac”) strives to provide superior customer service and process all
transactions in a timely and accurate manner. Thank you for forwarding Ms.
E[redacted]’s concerns to our attention and allowing us the opportunity to
respond.
Upon receipt of the...

Revdex.com
notification, our office is in the process of completing a thorough review of Ms.
E[redacted]’s loan to ensure that her concerns are addressed.  On October 16, 2015, a PennyMac
representative called Ms. E[redacted] to discuss her concerns. PennyMac will send
a written response in regards to researching her concerns once the issue has been
researched and resolved.PennyMac values and protects its
customers’ confidential information. Due to privacy reasons, we will refrain
from posting any personal information to the Revdex.com site as we do not disclose our
borrowers’ personal information.

This company has been nothing but a problem since they bought our mortgage. Penny Mac bought our loan about a month ago and told us that we would have a 60 day (2 months)window to start paying them (Penny Mac). I was told by a P.M. agent that before I pay anything that I should call them back on July 10th because the initial payment was different than we were paying.
July's payment went to the previous lender which then sent they sent the payment to P.M. (I know this because I called the previous lender). The house payment is not considered late until the 16 of the month according to P.M. On the 3rd day of July they called us harassing my wife asking where the payment was and the amount was going to be $3000+ that we owed them. My wife stood her ground and walked through their job for the P.M. employee that we did not owe $3000+. We ended up owing them $38.00.
I sent out August payment on August 1 (postmarked on the 1st) and was called on the 2nd where our payment was. Again they were told that the payment was on its way and had to remind them of their policy of it is not late until after the 16th of that month. They apologized and said that this would not happen again.
My wife just received a call from P.M. and was asked where the payment was and that they had not received it. My wife looked up the automatic payment from our bank and confirmed that the payment went out and was received by them on the 5th. My wife had had it and was screaming into the phone to talk to a supervisor. After being on hold for quite some time, a supervisor answered the call, apologized to my wife saying that the mistake was on their end and the payment was received by them on the 5th and that we would never be called again about these problems again.

My loan was recently transferred from Bank of America to Pennymac while I was in the process of selling my house and in escrow.
I was told by Bank of America that I would not have any issues and that Pennymac will take over on July 2.
I am scheduled to close today on July 9th, and for the past week, I have been trying to get my payoff info so I can close.
I have been told that they cant help until July 10th because they have 55000 new customers, I have been told to call and ask for this person if you dont have it by 9am, I have been told I would have it numerous times, I was told someone would call me back in an hour, however I have been told lies.
I am moving from FL to IL with a VA loan and my sale in IL depends on this closing. I have a family involved and pennymac is interfering and could potentially leave us homeless. If they cannot handle the business they need to get out of it.

Complaint: 10322709
I am rejecting this response because:
 They have responded but have not taken action on complaint yet.Thanks[redacted] [redacted]Vice PresidentPremium SalesOrlando Magic###-###-####

PennyMac Loan Services, LLC, (“PennyMac”) strives to provide superior customer service and process all transactions in a timely and accurate manner. Thank you for forwarding Mr. S[redacted]’s concerns to our attention and allowing us the opportunity to respond. Upon receipt of the Revdex.com...

notification, our office is in the process of completing a thorough review of Mr. S[redacted]’s loan to ensure that his concerns are addressed.  PennyMac will send a written response in regards to researching his concerns as the issue has been researched and resolved. PennyMac values and protects its customers’ confidential information. Due to privacy reasons, we will refrain from posting any personal information to the Revdex.com site as we do not disclose our borrowers’ personal information.

Thankyou for bringing this matter to our attention and allowing PennyMac LoanServices, LLC (“PennyMac”) the opportunity to review and respond to Mr. and Mrs. L[redacted]’sconcerns.PennyMacstrives to provide superior customer service and respond to all inquiriesin a timely...

manner.  Upon receipt of the Revdex.com notification, a PennyMacRepresentative contacted Ms. L[redacted] on August 21, 2015, to discuss her concerns.  PennyMac confirmed that their payment was received and applied to theirloan.  Furthermore, PennyMac confirmedthat no late fees were assessed to the loan and no derogatory credit reportingwas submitted as the payment was received in a timely manner.  An apology letter and letter of explanationwill be sent to Mr. and Mrs. L[redacted] under separate cover.  PennyMacvalues and protects its customers’ confidential information.  Due to privacy reasons, we will refrain fromposting any personal information to the Revdex.com site as we do not disclose ourborrowers’ personal information.

PennyMac Loan Services, LLC, (“PennyMac”) strives to provide superior customer service and process all transactions in a timely and accurate manner.  Thank you for forwarding Mr. [redacted]'s concerns to our attention and allowing us the opportunity to...

respond. Please be advised a PennyMac is in the final stages of reviewing Mr. [redacted]'s request for cancelling his private mortgage insurance. We appreciate Mr. [redacted]'s patience while PennyMac continues our review. A written response will be mailed to Mr. [redacted] once a determination has been made. PennyMac values and protects its customers’ confidential information.  Due to privacy reasons, we will refrain from posting any personal information to the Revdex.com site as we do not disclose our borrowers’ personal information.

PennyMac Loan Services, LLC, (“PennyMac”) strives to provide superior customer service and process all transactions in a timely and accurate manner. Thank you for forwarding Mr. S[redacted]’s concerns to our attention and allowing us the opportunity to respond.Upon receipt of the...

Revdex.com notification, our office is in the process of completing a thorough review of Mr. S[redacted]’s loan to ensure that his concerns are addressed.  On September 10, 2015 a PennyMac representative called Mr. S[redacted] on the telephone numbers on file to discuss his concerns. PennyMac will send a written response in regards to researching his concerns as the issue has been researched and resolved.PennyMac values and protects its customers’ confidential information. Due to privacy reasons, we will refrain from posting any personal information to the Revdex.com site as we do not disclose our borrowers’ personal information.

PennyMac Loan Services, LLC, (“PennyMac”) strives to providesuperior customer service and process all transactions in a timely and accuratemanner.  Thank you for forwarding Ms. D[redacted]'s concerns to our attentionand allowing us the opportunity to respond. Upon receipt...

of the Revdex.com notification, a representative from our escalation office contacted Ms. D[redacted] to discuss her concerns.  Additionally, she has been contacted by the underwriter assigned to her loan and has been provided with an update and next steps.PennyMac values and protects its customers’ confidentialinformation.  Due to privacy reasons, wewill refrain from posting any personal information to the Revdex.com site as we do notdisclose our borrowers’ personal information.

Stay away from pennymac. Poor customer service. Difficult electronic payment options.

Complaint: 10616698
I am rejecting this response because:
 
As I mentioned in my May 11, 2015 this issue has been going on since January, 2015. It was only until you contacted them that they took this matter seriously.  The simple fact is that they refused to work with Citibank (my bank) to credit my account for 708.62.  They have used many excuses to delay crediting this payment. Now it is in the PennyMacs fraud department. I was told that I would be contacted by the Fraud department on May 20 and once again they did not call me.
The fact is that the $708.62 was cashed by either PennyMac or Bank of America and no one is taking responsible for this.  This matter is not resolved!!!! Please post this so other people don't have the misfortune of acquiring a mortgage with PennyMac.
Regards,
[redacted]

We were in the process of selling our home which had pennymac as the lender due to the loan being sold to them. Never had a problem with them. So when it came time to buy our next home they said they could do all sorts of things for us. Also that they would be there to answer questions along the way. We said ok got a good rate. Our home was still under construction and had about 2 and a half months left to be finished, they said not a problem we will get this done it a timely matter. (False). Went through two different loan officer, wasn't told the one had to go on emergency leave or something like that for almost two weeks. The loan processor didn't know what she was doing. she would email things to send to the builder and the realtors even though she had there numbers and email address. We also couldn't get a firm closing number from them, we wanted to bring additional money to closing and I told them that from day one. Kept getting different numbers all way up until the end. And when I asked at the end about it they told me it was to late and sorry. We also were going to try and close a week early, so I called and emailed to make sure they had everything they needed. They said we think so and that wont be a problem. Same loan processor told me that not but one day later she sends a email asking for things that the realtor and builder had sent her 6 times. needless to say we didn't close on time.
After we did close I filed a complaint on there website got a phone call from there complaint department based out of Dallas Texas. Told the guy what had happened and he sounded shocked and said this is horrible. he apologized many times about it and said that someone from those departments will be giving me a call in the next week. That was a month ago. By the way the department said that is was a construction issue and that is what took so long for the loan to close. So I called him back two weeks later told him I haven't heard anything. Once again he sounded shocked about that and he is forwarding it to the Vice President of those areas and I should here something back in 24 hours. He also would be calling me back in 24 hours. That never happened. I have called him 4 times since then goes straight to voice mail. Needless to say I am not happy with Penny Mac and I wouldn't recommend them to anyone I know. I am currently looking for a new lender just so I don't have to pay them anymore of my money in interest.

PennyMac strives to provide superior customer service and respond to all inquiries in a timely and professional manner.  Thank you for bringing this matter to our
attention and allowing PennyMac Loan Services, LLC (“PennyMac”) the opportunity to review and respond to Mr....

[redacted]'s concerns.
Please be advised that PennyMac received a copy of Mr. [redacted]'s complaint via email on January 6, 2014.  Upon receipt of the email, a representative from our office contacted Mr. Mr. [redacted] to discuss and address his concerns.  Please be aware that Mr. [redacted] was not an authorized party on the loan at the time that he filed his complaint; however, PennyMac worked with our borrower and Mr. [redacted] to resolve his concerns.  A substantive response was provided to Mr. [redacted] that addressed all of his concerns.   
PennyMac was able to address and resolve Mr. [redacted]'s concerns with the assistance of our borrower.  We were able to comply with Mr. [redacted]'s request and consider this matter closed.  
As you are aware, PennyMac did not receive a copy of the Revdex.com complaint until April 2, 2014.  
Thank you for allowing us the opportunity to provide a response.

Avoid if possible! Reading everyone's review of this company, it is exactly what I am dealing with. My mortgage was sold to PennyMac from Chase in July. Since then the insurance on my house was dropped for nearly a month since they didn't handle it the way they were supposed to in the transfer. Now I am getting mail stating the last bill I paid didn't have sufficient funds to satisfy my payment, when I paid the exact amount the bill stated. Good luck trying you get through to them as well, long wait times until you can even talk to somebody; and when you do they try spinning the blame back on you. Non apologetic about any of their mistakes and it has been nothing but stress dealing with this incompetence. AVOID AT ALL COST!