PennyMac Loan Services

Review: I would like to file a complaint against PennyMac for negatively affecting my credit report with the statement that my payment was late when it clearly was not. They also lack customer service and support. I have attached supporting documentation.

This letter is a request for a correction on my Credit report. According Credit Karma my mortgage bank Penny Mac reported that I was late on my May payment. First and foremost this is not accurate information. Attached you will find the statement from Penny Mac and a copy of the cash/deposited

check which was in no way late. In addition I am in Chapter 13 - which you are aware of since it is on my report and so is Penny Mac Penny Mac is reporting that I owe $0 so how could I be late? In addition I am also in the modification program with Penny Mac It seems as if this finical institution doesn't communicate well with all its parts. However I refuse to have my credit affected negatively due to their in ability to document effectively. Please correct my credit report to show that my payment was made in a timely fashion. The documents attached should be sufficient proof.Desired Settlement: Please correct my credit report to show that my payment was made in a timely fashion.

Business

Response:

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]’s concerns to our attention and

allowing us the opportunity to respond.

Upon

receipt of the Revdex.com notification, our office began a thorough review of Ms. [redacted]’s

loan to ensure that her concerns are addressed.

PennyMac contacted Ms. [redacted] on June 10, 2014, to confirm we would be

submitting a credit correction to the credit agencies. At this time, PennyMac is still in the process

of reviewing the loan in order to sufficiently address Ms. [redacted]’s

concerns. We appreciate Ms. [redacted]’s

patience while PennyMac completes our review and submits the credit correction

for Ms. [redacted] and Mr. [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.

Consumer

Response:

[redacted]Review: 10077173

I am rejecting this response because:

I will be contacting PennyMac again this week to see if they correct the problem they told me they would be correcting and the issue is not corrected as of yet.

Regards,

Business

Response:

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]’s concerns to our attention and allowing us the opportunity to respond.

Upon receipt of the Revdex.com rejection, our office continued our review of Ms. [redacted]’s loan. PennyMac contacted Ms. [redacted] on June 26, 2014, to confirm receipt of her Revdex.com rejection. PennyMac also followed up with Ms. [redacted] on June 30, 2014, and confirmed her questions and concerns have been addressed. A written response letter was issued to Ms. [redacted] on July 1, 2014, via Fedex overnight delivery (tracking number [redacted]). Ms. [redacted] has the direct contact information for a PennyMac Priority Complaint Specialist should she have any further questions or concerns.

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.

Review: Pennymac owes me a refund after my refinance with another mortgage company. According to them, the check was processed on 9/11/15, mailed on 9/16/15 and I had to wait 21 business days before I could confirm receipt of the check. On 10/15/15, I called to let them know I still have not received the refund and was told to just wait another week or so because according to their computers, the check was mailed. This is the 4th call I have made to them and I still don't have my refund.Desired Settlement: Overnight me a check immediately!

Business

Response:

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. F[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.

F[redacted]’s loan to ensure that her concerns are addressed. On October 16, October 19, 2015, a PennyMac

representative called Ms. F[redacted] to discuss her concerns at the telephone number

listed on her loan, there was no answer. PennyMac will review her concern, upon

completion of her request 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.

Review: Penny Mac acquired our home loan from Bank Of America in December 2013. We had been set up on automatic payments so we were required to fill out paper work for penny mac to continue the automatic payments but I neglected to send in the paper work, So January I mailed in the payment and in February my husband allowed them to take a ONE TIME payment which he forgot to tell me about so I mailed in another payment, so they got two payments in February I called and talked to customer service told them what had happened, they assured me that there would be no payment due in March and I mailed in the paper work for automatic payments to start in April 2014, March 6th they took $1130.00 from my account.Called customer service yesterday sent them the information they required and was told that the refund would be back in my account at the very latest 2 hours.Today check my account and still no money refunded.So I called customer service back had to explain my whole story again, was put on hold for thirty minutes,when the person came back on the line and gave me an excuse that they were still looking into my issues I requested to talk to her supervisor she put me on hold again was hung up on after ten minutesI called back got someone new had to re-tell my story again finally got to a supervisor and was told she would have to call me back when she got more information!!Desired Settlement: They should be held liable for their actions. The first place they were only allowed to take a ONE TIME payment in February, They didn't receive the paperwork to set up automatic payments till March and the automatic payments weren't suppose to start till April 7,2014

Business

Response:

Thank

you for bringing this matter to our attention and allowing PennyMac Loan

Services, LLC (“PennyMac”) the opportunity to review and respond to the [redacted]’

concerns.

PennyMac

strives to provide superior customer service and process all transactions

in a timely and accurate manner. Upon

receipt of the Revdex.com notification, a thorough review of the loan was completed to

respond to the [redacted]’ concerns. A PennyMac Customer Service

Representative advised the [redacted] on February 7, 2014, that under the

bi-weekly application requirements, the loan had to be paid one month ahead in

order to enroll in the bi-weekly AutoPay service. Review of the phone call on

February 27, 2014, with a PennyMac Customer Service Representative, confirms that

the [redacted] requested to be enrolled in our bi-weekly AutoPay service and would

be submitting an application that day.

As such, the loan was removed

from PennyMac’s monthly AutoPay, which drafted on March 5, 2014, with the

payment applied towards the April 2014, payment, thus paying the loan one month

ahead and enabling it to be eligible for our bi-weekly payment service.

PennyMac received the [redacted]’ bi-weekly AutoPay application on March 6, 2014

to begin drafting on April 7, 2014. The AutoPay was adjusted to bi-weekly

drafting per the [redacted]’ request and a confirmation letter was mailed to them on

March 7, 2014 advising of this. Further

review confirms that the [redacted] contacted PennyMac’s Customer Service

Department on March 6, 2014 to request a payment refund for the funds that were

applied towards the April 2014 payment. On March 7, 2014, the April 2014

payment was reversed our records confirm a wire in the amount of $1,139.44 was

deposited into the [redacted] bank account on March 11, 2014. We apologize for the delay in refunding the

payment as PennyMac does not process refund requests on weekends

Review: I have attempted to correct a series of problems with my escrow account without success. I have invested countless hours on the phone with at least 7 representatives since July 2014 leading up to this point, only to face ongoing issues and continued problems in my attempt to remedy.I purchased my home in August 2013. The prior owner was granted a Disability Exemption on the property. At some point prior to closing, the exemption was removed. The 2013 tax bills that were issued by the 3 taxing entities in my area calculated the taxes due *based on the Disability Exemption*. Once the sale of my property made its way through the records, a revised set of tax bills were issued and were all sent out before the end of the year. Unfortunately for me, PennyMac paid the tax bills that reflected the Disability Exemption, and did not pay the revised tax bills. Unbeknownst to me, I started accruing late fees and collection fees on the remaining portion of the revised tax bills that were never paid. This did not come to my attention until July of 2014.The 3 taxing entities were:Harris CountyCypress Fairbanks School DistrictHarris County MudUpon notification of the delinquency, I immediately called PennyMac. After a month of calling, PennyMac issued 4 checks out of my escrow account to Harris co and Cypress Fairbanks. Harris co DID NOT receive their checks and continued late fees. Pennymac issued a second set of checks drafting from my escrow again. I had to write a letter to Stanford Kurland before anything was done, 7 months later Pennymac reimbursed me for overpayment.It came to my attention on 7/13/2015 that Pennymac issued checks out of my escrow account to pay my 2013 property taxes FOR A THIRD TIME! I have spoken with customer service who put in a request to look into what happened. I was assured by the rep that I would be called back in 7 days with an update.From the day my loan was sold to Pennymac I have not received one single callback and have had to initiate ALL dialogue.Desired Settlement: Credit my account:$601.29 for late fees charged by Harris Co for late payment of 2013 taxes.$637.43 for late fees charged by Cypress Fairbanks for late payment of 2013 taxes.$2,006.16 charged on 6/17/2015 (no payee identified) that is equal, to the penny, to the amount reimbursed for double charging my escrow for 2013 taxes$1259.21 charged on 6/17/2015 paid to Harris Co for unknown reasonsReevaluate my recent escrow analysis which increased my monthly payment by more than 30%

Business

Response:

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. A[redacted]’s concerns to our attention and allowing us the opportunity to respond.Upon receipt of the Revdex.com notification, our office is currently in the process of a complete review of Mr. A[redacted]’s loan, to ensure that his concerns are addressed. Once the review has been completed by PennyMac, a written response will be mailed to Mr. A[redacted]’s mailing address on file, in regards to researching his concerns.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.

Consumer

Response:

Review: 10739030

I am rejecting this response because:

A written response only is unacceptable. A full audit is required of all transactions involving this account, a written explanation of every transaction, and a face to face or phone call to discuss the explanation are required. I would start with researching why PennyMac shows $8,441.34 paid in property taxes for 2014 when my tax burden was only $5,693.81. Then I would recommend researching why PennyMac allowed the insurance policy (progressive policy # 3[redacted]24) authorizing themselves to take out their own policy with their own provider for nearly 3 times the cost and limited coverage. I was told on my last call to PennyMac's account services department that PennyMac should NEVER have let the policy expire. Letting my policy expire just so PennyMac can take out their own policy with significantly higher premiums with their own provider almost seems criminal.

Regards,

J[redacted]

Business

Response:

PennyMac Loan Services, LLC, (“PennyMac”) strives to provide superior customer service and process all transactions in a timely and accuratemanner. Thank you for forwarding Mr. A[redacted] concerns to our attention and allowing us the opportunity to respond.Upon receipt of the Revdex.com notification, our office will complete a full review on your loan in regards to your request to ensure that herconcerns are addressed. Once completed a letter of explanation will be issued to Mr. A[redacted] which will address his concerns.PennyMac values and protects its customers’ confidential information. Due to privacy reasons, we will refrain from posting any personalinformation to the Revdex.com site as we do not disclose our borrowers’ personal information.

Consumer

Response:

Review: 10739030

I am rejecting this response because:As I said in my previous rejection:A written response only is unacceptable.

A full audit is required of all transactions involving this account, a

written explanation of every transaction, and a face to face or phone

call to discuss the explanation are required.The most recent response from PennyMac is a shining example of their lack of attention to even the simplest of details. 1) PennyMac did not read/acknowledge my previous rejection. 2) PennyMac's form letter is nearly identical to their previous response that was already rejected.3) I am referred to as both "Mr." and "her".I resorted to utilizing the Revdex.com to force PennyMac to take my issues seriously. PennyMac is obviously not concerned with their standing with the Revdex.com and are treating the Revdex.com like a joke.I will say it again, A written response only is unacceptable. A full audit is required of all transactions involving this account, a

written explanation of every transaction, and a face to face or phone

call to discuss the explanation are required.

Regards,

J[redacted]

Review: They increased my mortgage payment. I called, spent over 45 min, they said it was resolved, look for a letter etc. They opened in impound account for my homeowners insurance in spite of the fact that they had my insurance info which I had already paid. They read it back to me on the phone. They told me they would not increase my payment. No follow up whatsoever. I want my money back and an apology.Desired Settlement: Close impound account, refund me, turn off autobilling.

Business

Response:

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. P[redacted] 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. P[redacted]’s loan to ensure that her concerns are addressed. On August 27, 2015 a PennyMac representative called Ms. P[redacted] on the telephone numbers on file with no answer. PennyMac will send a written response in regards to researching her concerns once the issue has been researched and reviewed.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.

Review: My mortgage company Penny Mac failed to pay my windstorm insurance before my premium was due. I pay into escrow and it is my mortgage company obligation to pay my insurance on time so I do not have a lapse in coverage. Penny mac cut the check 3 days late (have proof), mailed it to the wrong address(also proof), and by the time it got to the right location it was 13 days late. during the 13 days lapse in insurance coverage I had a hail storm come through and damage my property. When I went to make a claim with windstorm they notified me that my policy was canceled because my premium was not paid in time. I have been getting the run around since 4/17/15 from Penny Mac, and a third party company that handles their claims. I can not get any answers from anyone and nobody seems to know anything either. It has been almost 3 weeks and I still have no claim filed or a have a had a adjustor come and look at my home. Now they are trying to push me off to another company but they will not even give me any contact info for this new company. In the mean time I am living in the house with unknown damages do to the lack of help I am getting from a company that was supposed to have paid my insurance premiums on time.Desired Settlement: Would like for someone to contact me on how they are going to resolve this

Business

Response:

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. M[redacted]’s concerns to our attention and allowing us the opportunity to respond.Upon receipt of the Revdex.com notification, our office attempted to contact Ms. M[redacted] to discuss her concerns. Regrettably, our attempts to reach her on May 12th and May 19th were unsuccessful. Please be assured, PennyMac is currently in the process of researching Ms. M[redacted]'s inquiry and will respond to her in detail, under separate cover. 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.

Review: In September 2014, our house was hit by a severe hailstorm. PennyMac, as our mortgage holder, is responsible for disbursing the funds from our insurance company so that we can pay for repairs to our home.Repairs are now complete, but PennyMac is stalling on releasing payments. This means that we either have to (a) go out of pocket and pay contractors ourselves (approx $40,000) or (b) continue to nag PennyMac to release our repair funds, and run the risk of incurring late payment fees or, worse, a lien from our general contractor.Numerous calls to PennyMac have failed to push the process forward. PennyMac first dropped the ball in scheduling our inspection to ensure that repairs were complete (this required two phone call and a two week delay). Now, PennyMac has everything it needs to release our funds, but is still dragging its feet, claiming internal process review is responsible for the delay.It seems that PennyMac has instituted a process of losing paperwork and giving its mortgagees the runaround in an attempt to keep our money as long as possible and generate interest.Desired Settlement: Release funds immediately so that we can pay contractors in a timely manner.

Business

Response:

Thank you for bringing this matter to our attention and allowing PennyMac LoanServices, LLC (“PennyMac”) the opportunity to review and respond to Mr. [redacted]'sconcerns.PennyMac strives to provide superior customer service and respond to all inquiriesin a timely manner. Upon receipt of the Revdex.com notification, a PennyMac Representative contacted Mr. [redacted] to discuss his concerns. Mr. [redacted] was provided with a substantiveresponse that addresses his concerns. PennyMac confirmed that his final loss drafts was mailed on April 21, 2015. An apology letter and letter of explanation will be sent to Mr. [redacted] under separate cover. 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 ourborrowers’ personal information.

Review: I have been waiting for my tax information and I contacted the company last week to request information on the status of the form, seeing as it is getting very close to the tax deadline. I was told that I could access all of the tax information on my account online. I specifically confirmed that I would be able to PRINT my TAX FORM. The person I spoke with confirmed, yes I would be able to. During Easter weekend, I did not have an opportunity to log on. I attempted to log on today but was unable to access my account. I contacted the customer service and they walked me through reregistering because they updated their website. Upon completion I asked the man I was speaking with where I could find the tax information. He had no idea and needed to contact a supervisor. Upon coming back he had me click several drop down menus but to no avail. After repeatedly going back and forth with his supervisor I was told that I was not going to able to access my tax but that they could mail it to me. This was unacceptable. After repeatedly going back and forth, they agreed to fax my tax information. This took almost two hours to resolve and I'm not entirely sure that it has been as I have yet to receive a fax.Desired Settlement: To obtain my appropriate tax information.

Business

Response:

Thank you for bringing this matter to our attention and allowing PennyMac Loan Services, LLC (“PennyMac”) the opportunity to review and respond to Ms. [redacted]’s concerns.PennyMac strives to provide superior customer service and respond to all inquiries in a timely manner. Upon receipt of the Revdex.com notification, a PennyMac Representative contacted Ms. [redacted] on April 8, 2015, to discuss her concerns however we were unable to reach her. Should Ms. [redacted] have additional concerns a message was left with the telephone number for the representative who will be providing her with a written response letter to her concerns referenced in the Revdex.com complaint which will be sent under separate cover. 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.

Review: We have a modified loan with PennyMac. Our September 2014 statement said our payment was due NOVEMBER 2014. I called PennyMac The end of September. I did not record the date nor the man's name I talked to, but I believe it was the last Thursday or Friday in SEPTEMBER. The man at PennyMac that I talk with SAID "Go by the statement and make your payment in NOVEMBER NOT OCTOBER. The October statement arrived and we were charged a late fee for NOT paying in October. I called and talked to a Supervisor Christina. She said she fixed the payment so the payment I made the end of October was for November. It has Not been fixed and We have been charged late charges every month since. We have also received Numerous phone calls every month except March stating we are late and we need to call PennyMac. February 24, 2015 I called asked to talk to a Supervisor and was told "[redacted] will call you tomorrow 8:30AM." I called February 25th in the afternoon because [redacted] had not called me and asked to speak to [redacted]. After holding for 10 minutes [redacted] said she was busy and couldn't call me. Then [redacted] said, "We do have a credit will have someone else research for sure." She said she would call in 3-5 business days. I called March 10 because I had not heard anything and left a message for [redacted]. We received our statement for April on March 22, 2015. The past late charges have been removed BUT we are still behind one month on our payment and we were charged a late fee for MARCH. The good news is we have only received TWO phone calls so far from PennyMac instead of the normal 8-10 phone calls. I just called [redacted] again and left a message. We are so sick of PennyMac and all their run a round, we wish we could get away from them for good!

Product_Or_Service: MortgageDesired Settlement: It would be wonderful if they would just pay off the loan because this is not the first issue we have has with them. They have been VERY STINKY from the beginning! Please can we just get this issue of being ONE MONTH behind resolved! I AM NOT LYING WHEN I SAY I CALLED IN SEPTEMBER! Every time I call PennyMac the recording SAYS THEY RECORD ALL CALLS FOR QUALITY PURPOSES!! PennyMac must have the recording from September so listen to it and resol

Business

Response:

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]'sconcerns to our attention and allowing us the opportunity to respond. Our office is in the process of investigating the matter. A written response in regards to her concerns will besent 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 ourborrowers’ personal information.

Review: PennyMac loan services recently bought out my mortgage in 2014. since then they have refused to pay my home insurance and refused fixing the problem for 2 months. since then my insurance was cancelled and they are wanting me to take a bogus insurance company that is more money and covers nothing. After 2 months of contacting customer service and faxing 911 address change papers which I faxed to 4 different numbers and so did the 911 operator to try and fix an issue that pennymac had with my current address of property. 2 months later after insurance lapsed the adreess was corrected but leaving me without insurance and now I cannot find insurance at reasonable rate compared to the coverage I previously had. I contacted the loan services once again today January 6 2015. I was told the 911 address changed was just fixed. I went on to ask them what about my insurance and they gave me 20 days to get new insurance or they will give me there insurance. I asked why am I being punished for your pennymac fault from loss of insurance. now you want me to go once again and find new insurance. I had my previous insurance for 12years since I bought my house and now I have to get a higher rate plan for your mess up. yes they said to me and there is nothing we can do to help you. I had contacted multiple insurance companies and since I had a 2 month lap in insurance many will not give me insurance. And others want real high rates. I was paying $600.00 a year and now its looking at $1500.00 a year. my previous insurance company will not take me back because of a 3 way call a customer service rep had with them. the guy was very rude to my insurance companyDesired Settlement: I would like to have my insurance rate and coverage stay at previous payment. no increase or loss of coverages

Business

Response:

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 and Mr. [redacted]'s concerns to our attention and allowing us the opportunity to respond. Our office contacted Mr. [redacted] on January 7, 2015, to confirm receipt of the notification received from Revdex.com. Please be advised a PennyMac Priority Complaint Specialist is in the process of obtaining additional information and conducting a review, in order to sufficiently address Mr. [redacted]'s and Mr. [redacted]'s concerns. We appreciate Mr. [redacted]'s and Mr. [redacted]'s patience while PennyMac continues our review. Mr. [redacted] and Mr. [redacted] have been provided the direct contact information for a Priority Complaint Specialist, should they have any questions or concerns in the meantime.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.

Review: Unless you consider boiling high blood pressure in reference to dealing with this company.Desired Settlement: This would be my second complaint against this company as they just don't know when to stop. Last issue at hand was that they under taxed us then over taxed us on their mistake and made our mortgage payment go from $910 a month up to roughly $1,400 a month with a family of 5 on an e-5 salary plus our interest rate is 3.25% so explain that... Wow right well now it's been brought to my attention that they have been charging us for flood insurance 2 YEARS, when we live in a low risk area. HELP!!!

Business

Response:

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. V[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. V[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.

Review: The issue is regarding my home loan and PennyMac's response to my request to get rid of my Private Mortgage Insurance payments. After being denied once because I was told that I had to own my home for 2 years before I could potentially have my PMI to be removed, I spoke with Pennymac and requested an appraisal. I know that my house needed to valued at approximately $530,000 to be able to have my PMI removed. I paid $463,000 for my home and have put over $100,000 in upgrades/renovations into the home and with the market in a much better place figured that should be reasonable. I will try to keep this short but I was shocked when I received the appraisal back with a value of $414,000. This is an obvious attempt by PennyMac and the company they hired to do my appraisal that they charged me for to have me keep paying my PMI of over $200 per month. So I decided to do a little homework. I spoke with our new neighbor who moved in directly across the street from me 2 weeks after the appraisal, who bought a house that is 100 square feet smaller than mine and he informed me they paid $520,000 for the home. Then he shared with me that his appraisal on his home was $529,000. I am a very reasonable person but this made me very upset. I called Pennymac and explained my frustration and asked them to look into the situation and to explain how this may have happened. I was told they would look into it and get back to me. After not getting a response I called back and explained that I was going to make a compliant if my situation was not addressed. All I received from them was a fax of a copy of my lowball appraisal. The customer service provided by PennyMac was extremely poor and while I hoped this was just an honest mistake now seems to be an obvious attempt for them to keep taking more money out of my pocket than necessary. I would be happy to provide anyone both appraisals that were done 2 days apart to show the how blatantly obvious this was mishandled.Desired Settlement: I would like PennyMac to either conduct another appraisal at their expense this time or have them conduct a BPO to get a realistic value of my home as my PMI should be able to be removed.

Business

Response:

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]’ concerns to our attention and allowing us the opportunity to respond. Our office is in the process of completing a review of Mr. and Mrs. [redacted] loan. A representative from our office called Mr. [redacted] to provide a direct contact to address his concerns. 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 ourborrowers’ personal information.

Consumer

Response:

Review: 10322709

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

Business

Response:

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]concerns to our attention and allowing us the opportunity to respond. Upon receipt of the Revdex.com notification, our office completed a thorough review of Mr. [redacted] loan to ensure that his concerns are addressed. A representative from our office called Mr. [redacted] to provide resolution as it relates to his request regarding the PMI deletion. PennyMac is in the process of finalizing a written response in regards to researching his concerns.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.

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!

Review: I've asked PennyMac several times to stop sending me escrow refund checks overseas. I was informed that by law they are required to send me refund checks when there is an overage in the escrow account. I was told this is suppose to happen once per year at the same time each year, however, I have received 3 checks over the past 6 months. I thought this was suppose to happen only once? After contacted PennyMac each time I asked them and then demanded they apply the funds to my mortgage, or principal if PennyMac wants to get anal about verbiage. Twice this has failed and after calling they have told me there was a mistake on their end for why the overage was not applied to principal. Later I get an e-mail stating a request was submitted to have the funds reapplied to escrow. I didn't request the funds be applied to escrow. I requested the funds be applied to Principal. I have yet to be provided with the information on what law requires PennyMac to send me refund checks for escrow overages. Is there such a law? Does it only apply to California?Desired Settlement: I'm not sure by PennyMac not applying the funds to principal sooner has affected my interest or not, but I would like explanation on that considering I believe I could have avoided some interest if PennyMac applied the funds to principal sooner. It's such a waste of my time to have to take time to have to go to the bank, deposit a check, wait for the funds to be available, and to then reapply the funds into escrow so I can make a payment on my mortgage. STUPID! APPLY IT TO PRINCIPAL!

Business

Response:

Thank you for forwarding Mr. [redacted]’s concerns to our attention and allowing us the opportunity to respond. PennyMac strives to provide superior customer service and process all requests in a timely and efficient manner.Upon receipt of the Revdex.com notification, PennyMac attempted to contact Mr. [redacted] to address his concerns. Regrettably, our attempts to contact Mr. [redacted] have been unsuccessful. Please be advised PennyMac is in the process of completing a thorough review of Mr. [redacted]'s loan as it relates to his concerns.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 ourborrowers’ personal information.

Business

Response:

Thank you for forwarding Mr. [redacted]’s concerns to our attention and allowing us the opportunity to respond. PennyMac strives to provide superior customer service and process all requests in a timely and efficient manner.Consistent with our previous response, our attempts to contact Mr. [redacted] have been unsuccessful and PennyMac is in the process of placing a stop payment on Mr. [redacted]’s escrow overage check, in order to reapply the funds toward his principal balance as requested. PennyMac appreciates Mr. [redacted]’s patience while we complete his requests. 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.

Consumer

Response:

Review: 10182087

I am rejecting this response because: I am still receiving conflicting information. I was told I would have the extra funds in escrow placed toward principal and then I get a secured message through their system that it was denied the next day.

Regards,

I would like to take this time and submit a small review of this so called mortgage company. This company acquired my mortgage from chase mortgage in June 2015. I have had nothing but problems with them since. They call me on a regular basis saying I owe money and that my escrow is behind by 6 months. This is the worst example of customer service I have every had to deal with in my life. I can't wait to find a company to take this mortgage over and to be treated with some respect. As a Disabled Vietnam Veteran I have suffered enough and I don't need to be put thru this every other week.

Review: I bought my house and get a letter a couple of weeks later stating that my mortgage has been sold. my original lender is parkside lending and they supposedly sold it to penny mac. I keep getting bills from both companies.I try contacting parkside lending several times and they state that they never sold my loan. I continue to call and they continue to say it is never been sold. I finally got ahold of them yesterday where they stated they are selling it to pennymac on oct 22nd where pennymac states they bout it in july. I have had it routed to supervisors at both companies a couple of times and have never gotten a call back. I contd to pay my mortgage to parkside and now pennymac is stating I owe them for my mortgage. I do not want to be penalized for trying to do the right thing and paying my bills. this has been the most screwed up situation ive ever been in and I JUST bought my house. this should not be allowed to happen!!Desired Settlement: I want my payments applied where they need to be applied and straightened out. I want confirmation from both companies of what happened when. I also want to make sure that NOTHING is reported to the credit bureau as I am up to date with payments. and I want it known that this shouldn't have happened and that we as consumers are innocent in this mess. I keep hearing from people I know that this is typical... IT SHOULDNT BE! THIS IS REDICULOUS!

Business

Response:

Thank

you for bringing this matter to our attention and allowing PennyMac Loan

Services, LLC (“PennyMac”) the opportunity to review and respond to Ms. M[redacted]’s

concerns.PennyMac

strives to provide superior customer service and respond to all inquiries

in a timely manner. Upon receipt of the Revdex.com notification, a PennyMac

Representative contacted Ms. M[redacted] on October 16, 2015, to discuss her concerns. PennyMac confirmed that the servicing of her loan was transferred to PennyMac, effective September 1, 2015. As such, PennyMac requested that Ms. M[redacted]'s previous servicer forward her September mortgage payment to PennyMac and a credit correction was submitted to the credit bureaus on behalf of Ms. M[redacted].Ms. M[redacted] was provided with a substantive response that addresses her concerns. A letter of explanation

will be sent to Ms. M[redacted] under separate cover. 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.

Review: Penny Mac bought my mortgage from Bank of America about 3 months ago. Since then, everything has been a total mess. Penny Mac has no clue where my money and payments are going and they, however I have the checks where they cashed them. They are using harrassing communications to try to scare me I guess. I have approx. $2500.00 that they cannot account for and they do not care if they find it or not. These guys are very un professional in their field of work. I have talked to several different people in their office over the last several weeks, each person assuring me that the issue has been taken care of and my monies have been credited to the correct account. This has been nothing but lies the entire way through..Desired Settlement: Penny Mac needs to get my account situation straightened out and stop the LYING

Business

Response:

Thank you for bringing this matter to our attention and allowing PennyMac Loan Services,LLC (“PennyMac”) the opportunity to review and respond to Mr. C[redacted]’s concerns.PennyMac strives to provide superior customer service and respond to all inquiries in a timely manner. Upon receipt of the Revdex.com notification, a PennyMac Representative contacted Mr. C[redacted] to discuss his concerns regarding the application of his payments on September 29, 2015. A detailed letter of explanation will be sent to Mr. C[redacted] under separate cover within 30 business days. 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 ourborrowers’ personal information.

Consumer

Response:

Review: 10834224

I am rejecting this response because: nobody has called me back to resolve the issue

Regards,

B[redacted]

Business

Response:

PennyMac spoke with Mr. C[redacted] on numerous times, lastly on October 14, 2015, regarding the application of his payments. Mr. C[redacted] has been advised the complaint has been resolved.

Consumer

Response:

Review: 10834224

I am rejecting this response because:Nothing has been resolved as of yet.

Regards,

Br[redacted]

Review: I am a co-applicant on my son's new mortgage. At the closing of the home purchase we were told that the mortgage lender would be contacting us with payment information. First payment would be due July 2014. On our closing papers a payment amount was indiscated. We did not receive anything that stated who we were to make payment to so we sent payment to the financial office that helped us with the purchase of the home. They asked us not to do that again. The month of August passed and we still hadn't received anything that told us who our mortgage lender was. Finally the firt week of September we received a statement from a company called PennyMac which we had never heard of before. I had to verify this was our mortgage lender. Then to make payment via internet I had to set up an account. The account needed to be verified before I could make payment and for some reason that wasn't working. I was in contact with Pennymac the whole time and not once did any of them tell me my payment was considered late and would be reported to my credit as beyond 30 days. They insisted they sent us a welcome packet in July but we did not receive anything from them except a statement which came in September but was dated August. Being this was our first payment to be made to this company I believe they should have been a bit more helpful for new customers. They have put a late payment on mine and my son's account so now we are not able to do anything because of it. I don't feel it was our fault that we were late when we did not receive anything stating who our mortgage lender was. I have been disputing this since November 2014 and getting nowhere. I even have a supervisor from PennyMac that agrees that I should not have been reported as late to the credit bureau but the PennyMac legal department wouldn't even listen to him when he submitted my dispute 3 times for me. Shady company and I wouldn't recommend anyone to use PennyMac for any mortagage needs. They are not customer focused and not nice.Desired Settlement: PennyMac needs to reverse / remove the late payment reporting they submitted to the credit bureau about our account. I have no recent reports to my credit of being late or missed. If I felt this truely was an error on my part I would not be disputing as I have spent numerous hours writing letters and on the phone. I have letters and documentation with names to prove how much I have been in contact.

Business

Response:

Thank you for bringing this matter to our attention and allowing PennyMac Loan Services, LLC (“PennyMac”) the opportunity to review and respond to Ms. F[redacted] concerns.PennyMac strives to provide superior customer service and respond to all inquiries in a timely manner. Upon receipt of the Revdex.com notification, a PennyMac Representative contacted Ms. F[redacted] on July 27, 2015, to discuss her concerns. Ms. F[redacted] was provided with the name and the direct number of the agent handling her concerns. A letter of explanation will be sent to Ms. F[redacted] under separate cover. 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.

Business

Response:

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. F[redacted] concerns to our attention and allowing us the opportunity to respond.Upon receipt of the Revdex.com notification, our office is currently in the process of a complete review of Ms. F[redacted]’s loan to ensure that her concerns are addressed. Once the review has been completed by PennyMac , a written response will be mailed to Ms. F[redacted]’s mailing address on file, in regards to researching her concerns.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.

Consumer

Response:

Review: 10730679

I am rejecting this response because: The issue is not taken care of at this time. Once the issue is resolved I wil consider accepting their response.

Regards,

[redacted]

Review: I contacted Pennymac yesterday and was quoted 3.875% rate to purchase a property. I provided all documentation and was told at the end of the work day they would charge $18 to my credit card to lock the rate. I agreed to the charge and informed him that I was leaving the office, and would like him to send me the lock confirmation. Later, I was emailed a message that he needed a purchase agreement to lock a rate (untrue) so he couldn't lock. I already informed Elliot, my loan officer, that I would provide that one outstanding item the next day and he was ok with that-even so, I sent it in immediately last night just so I would receive the lock. In the morning, he then told me that his manager told him he couldn't lock until he received a firm commitment from me that they earned my business. His manager called me to inform me that he would honor the previous day's rate and absorb the cost difference because of the confusion. When I called back hours later to request the lock confirmation, I was told it was locked, they were waiting for the confirmation. Then I was called by the manager and told that they were unable to lock the rate from yesterday, and that it would cost me over $6k to get the same rate today. This is AFTER they charged my card and told me last night that they were going to lock my rate last night. This is a classic example of a bait and switch. I have extensive experience in the mortgage industry and know for a fact that they neither needed a purchase agreement OR a solid commitment from me to lock the rate. These were just excuses to not deliver what was promised.Desired Settlement: I would like them to honor the original promised rate lock of 3.875% and provide it in writing.

Business

Response:

Thank you for bringing this

matter to our attention and allowing PennyMac Loan Services, LLC (“PennyMac”) the

opportunity to review and respond to the consumers concerns.

Allow me to

begin by expressing my regret for the frustration and inconvenience that the consumer experienced while working with PennyMac. Let me assure you that the service described

by Ms. Arnold is not typical of the service expected by PennyMac. Senior Management has been apprised of the consumer’s

experience.

PennyMac

strives to provide superior customer service and process all inquiries in a timely

and professional manner. Please be

assured that efforts are made by PennyMac representatives to accommodate our

customers’ requests when originating a new loan; however, in today’s financial

environment, there are very stringent guidelines that PennyMac must adhere

to.

A

review of our records confirms that the consumer was in contact with a PennyMac

Loan Officer to apply for a loan with PennyMac on June 6, 2013. The loan officer processed the consumer’s

application; however, the loan officer determined that additional documentation

was needed to process her request.

PennyMac received the additional information after the cut-off time to

submit a same day rate lock. While

PennyMac was unable to lock Ms. Arnold’s rate on June 6, 2013, she was

contacted by a PennyMac manager to discuss her concerns, and she was offered

her the previous day’s rate as the rates had increased.

Regrettably, during this process

PennyMac was advised of a mid day rate increase that prevented our manager from

providing the consumer the prior day’s rate.

The consumer was contacted by the manager and advised of the unfortunate

chain of events. As a result, the consumer requested to withdraw her application on June 11, 2013.

Review: PennyMac is putting bad information on my credit report because PennyMac does not want me to refinance with any one but PennyMac. PennyMac even was going up on my mortgate when I have a FHA Loan and also pennymac is make me pay the MPI when my property went up 80% in value and it in my contract. PennyMac are holding funds that belong to me in account called a expense account. This is the reason why PennyMac wants me to refinance with them so they could cover up there mess.Desired Settlement: Given me back my money that I'm entitle to and also take the bad collection off of my credit report so I can refinance with someone else. I have recipt from the bank that PennyMac sign front and back and I can prove that I don't owe any money. PennyMac owes me.

Business

Response:

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. R[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.

R[redacted]’s loan to ensure that her concerns are addressed. Once the issue has been reviewed and resolved,

PennyMac will send a written response in regards to the research of her

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.

Consumer

Response:

I have reviewed the response made by the business in reference to complaint ID 10973289, and find that this resolution is satisfactory to me.

Regards,

M[redacted]