PennyMac Loan Services

Review: On 05/15/2015, I scheduled a one time draft payment of $470.99 to be deducted from my Citizens Bank checking account. On 05/19/2015, a double payment of $941.98 was debited from my checking account causing my account to go into a negative balance. I immediately called PennyMac Mortgage Company. S/W Charm, faxed a request to ###-###-#### for $470.99 to be refunded to my checking account. Also, investigation# 30607101 opened. (To date, I have not heard any status on this investigation). On 05/20/2015, Called again, spoke with [redacted] at extension 5155. Faxed the same request to ###-###-#### to his attention.05/21/2015, s/w Tacome ###-###-####, she told me she would start the refund. She would call at 11:30am (EST) for a conference all to my bank to vfy the debit would be honored, that no dispute was in process.05/22/2015, I called Tacome at 1:30 after receiving no phone call. She verified needed information with bank.5/26/2015, Left voicemail with Tacome, no response.Fees I am incurring so far.... 05/27/2015 Debit Memo $6.99 ($611.75) Memo: SERV CHG 05/26/2015 Service Charge $6.99 ($604.76) Memo: SUSTAINED OD 05/22/2015 Service Charge $6.99 ($597.77) Memo: SUSTAINED OD 05/20/2015 Fee eNotice $70.00 ($590.78) Memo: OVERDRAFT ( 2 AT $35 EACH ) I explained to [redacted] who seemed to sympatize with me that this issue is turning my world UPSIDE DOWN!!! I live paycheck to paycheck like many Americans in today's society. My account is overdrawn. I have no money to live on, for gas, groceries, etc. I had to borrow money from family to pay my bills with MONEY ORDERS. I am incurring fees that I can not afford. THIS IS EXTREMLY UPSETTING AND THE COMPANY SEEMS TO MAKE NO EFFORT TO RESOLVE THIS OTHER THAN CALLING MY BANK TO ENSURE THEY GET THEIR FUNDS!!! HOW INSULTING!!!Desired Settlement: I want a refund of $470.99 for the payment that was debited from my account in error plus $90.97 for the fees that I have incurred from Citizens Bank for my account being overdrawn. On 05/19, I was assured that I would receive a refund, it has been 9 DAYS!!!!!!! Each day I am so upset & stressed out. It's just not fair that this company is getting away with this!!!

Business

Response:

Thank you for bringing this matter to our attention and allowing PennyMac Loan Services, LLC (“PennyMac”) the opportunity to review Ms.[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. [redacted] on May 28, 2015, to discuss her concerns. Ms. [redacted] was provided with a time frame for PennyMac to addresses 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.

Review: I have an escrow account with PennyMac that is to cover my taxes and homeowners insurance. This is on a rental property that I own at [redacted] AV. Northport, AL. According to PennyMac, they sent State Farm Insurance a payment of $906 on November 13, 2013. State Farm states that they never received it. PennyMac states that they cancelled the payment later in November, but they can't explain why. I have sent them letters and emails and not received a reply. The only information that I have received came from a phone conversation that I had with one of them after more than twenty minutes of navigating their automated call system, being cut off twice, then being on hold for half an hour on December 30. They told me that they sent a check to State Farm by overnight mail on December 26. They bounced me around to other departments, but nobody can explain the problems. This is January 2 and State Farm has not received payment. I had to pay State Farm Insurance myself before the 27th of December in order to avoid cancellation of my policy. PennyMac never paid State Farm Insurance, but they did deduct $906.00 from my escrow account. I cannot find anyone at PennyMac who can resolve this.Desired Settlement: I want PennyMac to pay me the $906.00 that they deducted from my escrow account but never paid State Farm Insurance, as I have since already paid State Farm from my own checking account.

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. B[redacted]’s concerns.

PennyMac strives to provide superior customer service and respond to all inquiries in a timely and efficient manner. Allow me to begin by apologizing for any frustration or inconvenience this matter may have caused Mr. B[redacted].

Upon receipt of the Revdex.com notification, PennyMac completed a thorough review of the loan to address Mr. B[redacted]’s concerns. A PennyMac representative spoke to Mr. B[redacted] on January 10, 2014 and confirmed that his insurance carrier verified receipt the replacement check PennyMac issued to pay Mr. B[redacted]’s premium. According to Mr. B[redacted], his carrier would be working directly with him on issuing a refund for the overpayment of his premiums.

As Mr. B[redacted] explains, PennyMac issued payment to his insurance carrier on November 13, 2013 and mailed a check via regular US mail. Upon being notified that his carrier did not receive the original check, a request to stop and reissue the payment was submitted. Please be aware that prior to replacing a check, PennyMac needs to verify the status of the check. Once verified, the check was stopped and a replacement check was issued and PennyMac confirmed that Mr. B[redacted]’s insurance carrier received the replacement on December 31, 2013.

Thank you for allowing us the opportunity to be of service and respond to Mr. B[redacted]’s concerns.

Consumer

Response:

Contrary to what PennyMac stated, State Farm Insurance was not paid by PennyMac until Jan. 9, after you inquired on my behalf. Thank you! I will be certain to explain to my students the function of your agency and the efficiency with which it is operated.

[redacted], M. A.

Economics Teacher

Review: My HOA insurance has been provided to Pennymac but they have charged me an extra $150 a month Since March. My insurance has sent them copies of the certificate of insurance but they are still charging me for additional insurance and have not reissued my back paid insurance. When I call the headquarters they do not get back to me.Desired Settlement: I want them to adjust my current mortgage so I am not being charged for insurance twice and I want them to back pay me for the insurance they were charging when they had proper insurance on file.

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.

C[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.

C[redacted]’s loan to ensure that her concerns are addressed. 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.

Consumer

Response:

Review: 10988794

I am rejecting this response because:I have been charged the wrong amount in my escrow since February 2015 because Pennymac had not updated my HOA insurance even though it was faxed to them. I would like to speak to someone at the escrow department. Pennymac said they would reissue me a check for around $450 but I have that I have been over charged $183.98 every month since February. This totals $2,023.78 not $450.00.

Review: In order to pay a bill with PennyMac they require my social security number. This is a private or 'secure' number that I do not wish to share every single time I make a payment. PennyMac refuses payment if I do not share this information each and every time I make a payment. I am extremely frustrated with their policy of requiring my social security number. I feel the more often I share my social security number, the more vulnerable I am. Stop requiring my social security number for MONTHLY PAYMENTS. ITS NONE OF YOUR BUISNESS. Just accept my payment. And also stop charging $15 just to make a payment over the phone. Your customer service representatives are not worth half of that fee(seriously).Desired Settlement: Stop requiring my social security number for payment. It's a private number and there are other ways to verify my account information so the payment can be applied. If for any reason I am unable to pay my own account, my SSN should not be a requirement for you to accept money on behalf of my account. I shouldn't have to share the last 4 of my SSN with anyone who wishes to make a mortgage payment on my behalf. Stop over reaching for my most personal information on a monthly basis.

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. 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.

Review: I have recently submitted a claim to QBE - the insurance that was placed on my home by PennyMac. QBE sent out an adjustor to assess the damage which they estimated at $8,015.22. QBE then cut a check for the amount of $3099.67 (after deductible and depreciation) and mailed it to PennyMac on June 17, 2015 to cover the repairs. This check was said to have my name and PennyMacs name on it to cover the damages. June 26, 2015 a packet was mailed out to me with instructions for me to find a contractor who would sign an affidavit BEFORE being paid that they would not place a lien on my property for nonpayment. Once I found one I sent in the paper work on August 10, 2015. A month went by I had not received a check to get the repairs started or any communication on the status of my processed check. At this point it is not a claim. QBE has settled my claim. This is about a check. A check that was mailed to PennyMac. I called to find out what was taking so long processing the check for my damages. I was transferred to this loss department only to find out that there were some missing documents that were needed which had not been requested initially nor were they requested upon receipt of my documents. In this conversation I was also told that an inspection of the work must be done at some incremental completion points during the repairs before the funds can be released. How does that make sense? My insurance has paid to repair the damages to my home yet PennyMac wants me to pay for the repairs out of pocket until PENNYMAC gives me the money that QBE insurance company has already disbursed to PennyMac for my repairs.September 8, 2015 there were several substantial rains that led to more damage. Still PennyMac had not released the funds for my repairs. The insulation in my ceiling is wet and causing mold. At the end of October I received a check for $309.97 odd dollars with a "final draw" note on it. Each time I speak with PennyMac there is a different reason why they wont disperse the funds.Desired Settlement: I want them to release the remaining $2789.70 so that I can finish the repairs on my house, this seems like insurance fraud to me.

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. W[redacted] concerns. PennyMac strives to provide superior customer service and respond to all inquiries in a timely manner. A detailed letter of explanation will be sent to Ms. White 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 our borrowers’ personal information. “

My husband and I have had the worst experience with Penny Mac. They bought out our original mortgage company, Cenlar, over the summer. We've been trying to do a short sale on the house since August. It took over a month for the company to assign us an agent. Once we received the agent's contact info we were told that we would receive a packet of paperwork (which we never got) that was time sensitive. It took me a week of constant calling to finally get our agent on the phone. I listened to him tell me about how he had tried to contact us... we didn't have a single missed call from the company. In October the agent said that he submitted a request for an appraisal on the house. Come November I still hadn't heard from the appraiser. The last time I spoke to the agent was November 7th. I spent an hour on the phone with company on Friday. I left messages with my agent and his supervisor. I even emailed him, but haven't heard anything back from him. I got transferred from person to person to find out that he never ordered the appraisal, but to call back on Monday to see if he'll be in the office. I called back yesterday and still no luck getting in touch with the agent or his supervisor. I managed to be lucky and be on the phone with someone incredibly helpful. She let me know that someone who actually does their job put in the request on Friday when we called. She gave me the appraisers information and he's just in case. There were 2 helpful people at PennyMac and that was about it.

They are the worst company to deal with and I can't wait until I no longer have to deal with them. Their customer service is horrible and I will never recommend them to anyone.

Review: First they mailed us saying that they are going to purchase hazard insurance for my house at outrageous price and wanted me to provide proof of my insurance for this year which I did online at ihaveinsurance.com before the deadline they provided. Even with that they purchased the insurance and sent me another letter saying that I now have to fax these to them. And today I have received another letter saying that they will cancelled the insurance they purchase for this year however they will charge my escrow account for last year. I am really upset and confused the way they do their business and cheating people's time and money. If you wanted the copy of my insurance which I do have the proof you asked me last year and don't charge me this year for something I did not even get the policy statement.This is ridiculous and I do not know how many of us out there going through same frustration that I am going through.Desired Settlement: I would want a full refund in the amount of $3364.23 that were drawn out from my escrow account. And also I would like some bureau investigate if there are not repeated to multiple loan holders.

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 process all transactions in a timely and accurate manner. Upon receipt of the Revdex.com notification, our office attempted to contact Ms. [redacted] on February 11, February 12, and February 14, 2014. Regrettably, Ms. [redacted] was not available to discuss her concerns during our February 11, 2014 call. A thorough review of the loan was completed as it pertains to her concerns regarding her Insurance Policy. A substantive response was prepared and will be mailed to Ms. [redacted] confirming a full refund was credited to her escrow account on February 12, 2014.

PennyMac values and protects its customers’ confidential information. Due to privacy reasons, we will refrain from posting a detailed substantive response to the Revdex.com site as we do not disclose our borrowers’ personal information.

Review: We purchased a house in October of 2013 and the title company that handled the closing collected funds from us and the previous owner to pay the 2013 taxes. The title company sent the check to the tax office and it was posted in that same month. Penny Mac issued a check from our escrow account and paid the taxes again in error. I saw this almost immediately on our online statement and called them in early December to advise of the error and to get it refunded. They said to call back in two weeks if I didnt see it credited. I called back in two weeks and they advised they would look into it and call me back. They never did. I called them again every few days and they promised to call with updates and they never did except for one time when my husband called and got very upset. they finally opened a research request to look into it and said would have it completed within 30 days. The 30 day mark came and went but they finally confirmed that the tax office had received the check and they would be refunding it. I was very disappointed by this point and didnt trust them to follow thru. I called the tax office myself and they advised they would wire the refund on 1/20 and the mortgage company should have credited with 10 days. As of today that has not happened. I just called Penny Mac again and they said that they will open ANOTHER research request and that they have 30 days to fix it. Their customer service is appalling and I am very upset at how unprofessionally they are handling this issue.Desired Settlement: I just want the funds put back into my escrow account where they belong and I dont feel that I should have to call and harass them to do something that it is their job to do. They have no sense of urgency and no one will follow thru with getting this resolved.

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 process all transactions in a timely and efficient manner. Upon receipt of the Revdex.com notification, our office attempted to contact Ms. [redacted] on February 11, and February 12, 2014 without success. While we were unable to reach her to discuss her concerns a thorough review of the loan was completed as it related to the status of her Property Tax Refund.

Our office confirmed that the property tax refund was sent to PennyMac by the Taxing Authority; therefore, a request was submitted to credit Ms. [redacted]’s loan while PennyMac processes the refund. A credit was applied to the loan’s escrow account on February 12, 2014 for the refund amount.

PennyMac values and protects its customers’ confidential information. Due to privacy reasons, we will refrain from posting a detailed substantive response to the Revdex.com site as we do not disclose our borrowers’ personal information.

Review: I am a veteran of the United States Marine Corps and have a VA loan with PennyMac. My wife and I purchased our home in 11/2001 and our loan originated with another bank and was sold to PennyMac. In February 2015, my wife and I wanted to refinance our home at a lower rate and consolidate personal debt with PennyMac. We spoke to a Mortgage Loan Originator at PennyMac on 2/12/2015 and we were asked to send over the necessary paperwork to begin the refinance process. My wife and I were cognizant that the refinance process would take a little longer (VA loan) than a conventional loan, but we are entering our 5 month in this process with no closing date in sight. Our frustration with PennyMac involves several areas within the refinance process. 1.) To begin, there is a lack of Checks and Balances within PennyMac. Our personal information for the refinance process was requested multiple times which has delayed the process. My wife and I provided all requested personal and financial information for 2012, 2013 and 2014. 2.)There is lack of Transparency within PennyMac. My wife and I have asked for updates throughout the refinance process and we cannot get any clear answers as to where we are in the process. As of today, May 28, 2015, we are now working with a 4th person in our refinance process. 3.) From our experience with PennyMac, there has been a lack of Communication between the 4 individuals we have been working with throughout this process (i.e.: need to resend personal and finance information). In addition to this, as a veteran and consumer, my wife and I feel like we have been "left in the dark" with no knowledge of what is happening with our refinance. 4.) And finally, as a USMC veteran, I am extremely disappointed in the customer service PennyMac provides to veterans with VA loans. My wife and I have issued complaints with the following:1. Representative D[redacted], District #1 in Denver Colorado2. Department of Regulatory Agencies, CO 3. VA Regional officesDesired Settlement: 1. For our refinance and debt consolidation process to be completed and closing date established.2. For PennyMac to implement system improvements within their agency as mentioned above (Checks and Balances, Transparency, Communication and customer service) 4. Improve Customer Service with veterans.

Business

Response:

Thank you for bringing this matter to our attention andallowing PennyMac Loan Services, LLC (“PennyMac”) the opportunity toreview and respond to Mr. G[redacted]’s concerns.PennyMac strives to provide superior customer service and respond to allinquiries in a timely manner. Upon receipt of Mr. G[redacted]'s concerns, a PennyMac representative contacted him to discuss the required documents and next steps.A letter of explanation will be sent to Mr. G[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.

Consumer

Response:

Review: 10642352

I am rejecting this response because:On June 4th, PennyMac did schedule a closing for our refinance. However, in the closing documents, the birthday for my wife was listed incorrectly and our street name was misspelled. In addition to this, PennyMac included three "Credit Directive Letters" for us to sign which were not discussed with us. We contacted [redacted] on June 4 during closing to address how to resolve this matter and proceed with closing. After Ms. M[redacted] conferred with underwriters and her manager on June 4, my wife and were advised not to sign the letters and return them as "unsigned" in closing documents to PennyMac. On June 4 at 5:04PM MT, it was stated, PennyMac will not pay off the three accounts as identified in February 2015, and PennyMac will issue one check from refinance. The closing documents which PennyMac had us sign on June 4, did not reflect the change of stop payment to three identified accounts. I emailed [redacted] on June 5 to address items for correction on closing documents from June 4 and she has responded. Please see attached documents for correspondence. At this time, the refinance with PennyMac is not complete and fully corrected.

Regards,

J[redacted]

Business

Response:

Thank you for bringing Mr. G[redacted]'s concerns to our attention andallowing PennyMac Loan Services, LLC (“PennyMac”) the opportunity toreview and respond. PennyMac strives to provide superior customer service and respond to allinquiries in a timely manner. A formal response was mailed to Mr. G[redacted] under separate cover on June 12, 2015.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.

Review: Pennymac recently purchased my mortgage from Chase. When a payoff was requested by the title agent, they were told to call the day of closing. When the title agent called the day of, she was told only the borrower could request a payoff. I got in touch with a customer service representative, whom stated they would have it to us by 2PM for the 3:30PM closing.On my way to the closing (around 3:15) the title agent called and told me she still had not received the payoff. I called Pennymac again. This representative said that they were unsure why the first request did not go through, but he generated a payoff statement and sent the fax, he stated he got a transmission confirmation, the payoff fax would arrive in a minute. I relayed this information to the title agent, however after an hour it still had not showed up. I called and requested to speak with a supervisor, he stated that he saw the two other requests I had made, but neither had been expedited. I told him the severity of the situation, and that I needed the payoff amount immediately. It was now 4:30ish, and the title agent was willing to make it happen by 5 if we could. Pennymac finally got a payoff amount faxed. But there was an extra miscellaneous charge of $396.20. When Chase was carrying my mortgage and a payoff was generated, this charge was not included. This put my closing costs above what I have available, and it hindered the closing, the closing is very close to falling through because of Pennymac's unsubstantiated claim for additional funds. I have not gotten a straight answer as to what this charge is for, I have been told it is an early payoff fee (which is illegal for mortgages) and/or that it is an annual fee. They will not provide the documentation that is supposedly from my original mortgage that states I can be charged this, and they will not tell me what it actually is, as the supervisor I spoke with plainly said, I don't know what it is, I havent read it, "they" told me it cant be waived.Desired Settlement: I would like the amount refunded as it is an illegitimate claim and I am going to have to pay it to close on my house. But it needs to come back to 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 Mr. F[redacted]’sconcerns to our attention and allowing us the opportunity to respond. Our office is in the process of investigating Mr. F[redacted]’s concerns to ensure that his concerns are addressed. PennyMac values and protects its customers’ confidential information. Due to privacyreasons, 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: 10628989

I am rejecting this response because:PennyMac's response is not a resolution, it's an excuse for them to dismiss the issue without coming to a reasonable agreement. For PennyMac to state that they are "working on it" in hopes this will close the case is very poor. I am being deflected and this matter is not being taken seriously. I am extremely disappointed in PennyMac's antics. I was charged an illegitimate fee, PennyMac could not substantiate their claim to this fee, and now they are refusing to address the issue.

Regards,

[redacted]

Review: We've been paying our mortgage to PennyMac through our banks "bill pay" system since 2012. With our June payment PennyMac claimed they never received the payment, even though we hadn't changed anything with how we've paid the bill for over 3 years (this also isn't the first time this has happened). My wife contacted them and started an inquiry because our bank showed that the money was paid from our account to PennyMac. During the process of the "investigation" PennyMac called us several times to "collect the debt" even though we ALREADY PAID! After weeks of going back and forth with PennyMac and sending them the cancelled check from out bank, they finally realized that they had credited our money to someone else's account and then they blamed our bank?! During this time our July payment was also sent to PennyMac from our bank so everytime we tried to call PennyMac to find out the status of the investigation, they attempted to collect both June and July's payments even though they already had our money!Finally they acknowledged that they found our money that our bank somehow misplaced, even though PennyMac is the one who applied it to another account. We thought this was finally over.Today, my wife noticed on our PennyMac account that they never applied the June and July payments to our account! So she called PennyMac for the 21st time and they once again tried to collect the June and July payments from us and accused us of being in default!My wife finally was able to talk to a supervisor and they told her that it was "in process", whatever that means. Meanwhile our account still does not show our payments!!! I'm furious with PennyMac and I'm furious that our original mortgage company allowed our mortgage to be sold to this dishonest, and frankly incompetent business.Desired Settlement: I want PennyMac to correct my mortgage and to reflect the "on time" payments that we've been making for 3 years and want them to fix their systems so this stops happening. I didn't have enough space above to describe it, but this has happened twice to us and the first time they actually attempted to hurt our credit score because of their incompetence.

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. L[redacted]’s concerns to our attention and allowing us the opportunity to respond. Upon receipt of the Revdex.com notification, our office contacted Mr. L[redacted] on July 17, 2015, and completed a thorough review of Mr. L[redacted]'s loan to ensure that his concerns were addressed. 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 10713975, and find that this resolution is satisfactory to me.

Regards,

J[redacted]

Review: In January of 2015 my mortgage payment went up by 1,257.53. I had my banker look over my paperwork and she found that pennymac had my taxes listed at 16,6000 when in actuality they are 6,900. I called for the first time on January 23 and was asked to fax over copies of my tax bills. The customer service rep, Sarah, told me this was just a "simple mistake made during entering" and that it would take 7-10 days to fix. With that being said, she informed me that the updated payment amount would not go into effect for the February statement but that they would mail me a refund check. I paid the incorrect amount for February as well. When I got my March statement the payment amount still had not been updated. I called once again and spoke with Jackie and supervisor [redacted]. When I asked [redacted] why this had not been fixed yet, his response was "I can not answer that question mam". Mr. [redacted] assured me that I would receive a phone call in 3 days with the updated amount. I waited that day for a phone call that I never received. So I called them that day and was told that [redacted] went home due to inclement weather. I have since had to call another 3 times. Just today my March payment was taken from my checking account, again in the incorrect amount. When I called today they told me that they updated the yesterday but that it takes 24 hours to take effect. I once again asked why this had not been fixed, since it has already been well over a month, and yet again no one can give me any answers. I informed them that I want my money back that they are literally stealing from account right away and a supervisor by the name of Arlene informed me that she would have to send this inquiry to the research department and that it would not be possible for me to get it back right away. I do not understand how a company of their size that is worth 1.48 billion dollars can not seem to get anything right. Please advise me if there is anything else I should be doing. Thank you.Desired Settlement: I am owed 1,191.35

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 March 5, 2014, to advise the funds have been returned back to her March 5, 2014, however PennyMac was unable to reach Ms. [redacted]. A letter of explanation will be sent to Ms. [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.

Consumer

Response:

Review: 10516395

I am rejecting this response because:No one from PennyMac ever called me on 3/5/15. There was no voicemail left by anyone. I have received my funds back but the fact that the response from them says they strive for great customer service is a joke. They have most definitely the worst customer service I have ever dealt with. And the fact that they are stating they called me is another joke. I would never recommend this company to anyone. I am in the process of speaking with lawyers regarding their lack of being "accountable, reliable, and ethical". Things they strive for, but are far from achieving.

Regards,

Review: Penny Mac loan services bought my home loan from chase bank and it has been complete chaos ever since. They took it amongst themselves to purchase flood insurance for my home increasing my house note almost $300 extra a month even after proving that I had acceptable insuranceto which they verified and canceld the insurance they purchased and said that my note would be fixed ..its been 3 months and nothing is fixed they keep charging me the $300 extra every month and are are going through the steps to forclose on my home .. Meanwhile everytime I call its the same thing I get a complete run around only to get on the phone with with a supervisor who tells me the same thing that they will fix it. I am out of pock $1000 for insurance I don't even have and keep saying I owe more but the problem is supposed to be fixed all the while they are killing my credit. I need the problem to be solved ASAP! I feel that I am being ripped off and jerked around and want every penny of my money that I had to dish out because of their ignorance or they will be hearing from my lawyer.Desired Settlement: I would like monthly note fixed a refund of all the extra money I was charged and my credit fixed.

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. G[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. and Mrs. G[redacted] on December 2, December 4, December 9, and December 15, to discuss their concerns. Mr. and Mrs. G[redacted] were provided with a substantive response that addresses their concerns. A detailed letter will be sent to Mr. G[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.

Horrible customer services!!! Got the run around but different agents, one being a supervisor. Trying to refinanced my loan just to get away from them.

Review: I HAVE A MORTGAGE FOR THE HOUSE I LIVE IN WITH PENNY MAC LOAN SERVICES. APPROXIMATELY 1 YEAR AGO, LOCAL DEPARTMENT OF TRANSPORTATION INFORMED ME THAT THEY WILL BUY A PORTION OF MY BACK YARD TO WIDEN THE ROAD NEXT TO MY HOUSE. IN ORDER TO SELL THAT LAND TO THE DEPARTMENT OF TRANSPORTATION OF WILMINGTON, I NEED FOR PENNY MAC TO RELEASE THAT PROPERTY. I CONTACTED PENNY MAC FOR THE FIRST TIME AT THE END OF 2013. AT THAT TIME, I REQUESTED A PACKET OF DOCUMENTS NEEDED FOR THE PROPERTY RELEASE. I WAS TOLD THAT THEY WILL GET THE FORMS TOGETHER AND SEND IT BACK TO ME WITHIN 5-10 DAYS. NOW, ALMOST 5 MONTHS LATER, I AM STILL WAITING FOR THOSE FORMS. I MADE AT LEAST A DOSEN TELEPHONE CALLS , ONE WRITTEN REQUEST AND SPENT ENOURMOUS AMOUNT OF TIME ON THE PHONE WITH THEM.I FEEL HELPLESS AND WILL CERTAINLY INCUR A LOT OF DAMAGE BECAUSE OF THEIR INCOMPENETNCE AND DELAYS.PLEASE HELP ME TO RESOLVE THESE MATTER IN A TIMELY FASION.THANK YOU IN ADVANCE .OLGA SELLERS

Order_Number: LOAN NUMBER 10[redacted]36Desired Settlement: DesiredSettlementID: Other (requires explanation)

ASSIGN A SPECIFIC PERSON TO MY CASE, SEND ME THE FORMS NEENED FOR RELEASE WITHIN 5 DAYS, ONCE THE FORMS ARE RECEIVED BY PENNY MAC - REVIEW AND RELIESE PROPERTY WITHIN 10 DAYS.

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 completed a thorough review of Ms.

[redacted]’s loan to ensure that her concerns were addressed. PennyMac confirmed that Ms. [redacted]’s approval

letter for the partial release was mailed to her on May 22, 2014. We appreciate

Ms. [redacted]’s patience while PennyMac worked with the Federal Housing

Administration to approve Ms. [redacted] for the partial release.

A

representative from our office called Ms. [redacted] on May 22, 2014 to discuss her

concerns. A message was left with our

representative’s contact information should Ms. [redacted] have additional

questions or concerns she would like to discuss.

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.

Thank you

Consumer

Response:

Review: 10048309

I am rejecting this response because:

Regards,

Thank you for finally addressing my concerns regarding delays with partial release. I've received the approval letter a few days ago. It states that we have only 14 days to supply the funds and other items, otherwise"the case will be closed" This time frame is absolutely unacceptable and unfair. It will take 4 to 7 weeks to get the money from NC department of transportation. I request to extend the time-frame for submitting the items, especially since I had to wait on PennyMac for six!!! months to approve fairly simple partial release request.

Thank you.

Review: I refinanced my home in November, 2013. My loan was completely paid off on December 3, 2013. On or about December 16, 2013, I contacted PennyMac regarding my escrow refund. For the last six weeks I have received nothing but excuses regarding my refund, and no check. I was told by different customer service agents, that I should receive my refund by the end of the week. When I contacted PennyMac on Monday, January 13, I was told a check was cut on December 30, 2013, but had not been mailed. I am very frustrated with this company, and sick of getting the run around, being put on hold for minutes at a time, and transfered to different customer service agents with unreasonable excuses. My loan is completely paid off, and I would like some answers as to why I haven't received my escrow refund, and mostly my refund check.Desired Settlement: Escrow Refund from Loan Refinance.

Business

Response:

PennyMac Loan Services, LLC (“PennyMac”) strives to provide superior customer service and respond to all inquiries in a timely and efficient manner. Please allow me to begin by apologizing for the frustration and inconvenience this matter caused Ms. W[redacted].

Review: I have just been informed that I have to retire from the US Navy by January 2010. My wife has been on a leave from her job due to an injury. My wife has also contacted our current mortgage company PennyMac. The mortgage company has been giving us the run around about a bank statement. My wife and I have provided bank statements for August and September. Now tonight on October 22 at 6:17 pm a representative from Penny Mac Loan Services request to see another bank statement for October. Now the mortgage company is dragging their feet in resolving our current situation. I replied to the representative that my wife has been reactivated from Workmen’s Compensation in regards to her receiving a check. Now we have to wait weeks and weeks at a time to catch up our mortgage. We already authorized Penny Mac to contact our current employers since the company can’t believe we have finance difficulties at this time. The first day that my wife was reinjured she told the Mortgage Company Penny Mac with regard to our Loan , Loan Number [redacted]2 Located at 708Rocky Run Court ,Virginia Beach, VA 23462 to be advised that, due to her injury with her left thumb which swells up and has a fracture that she is not capable of lifting anything over 10 pounds. The Doctor recommend no lifting at all. My wife is currently waiting on surgery next month and she may have a permanent disability if the doctor recommends this action after surgery. We have been expDesired Settlement: Approve our modification request to half our mortgage due to my wifeaposs injury. We do not know if it will be permanent or if she will be able to use it at all after the operation next month! PennyMac needs to make a decision because Emy retirement date is January 09, 2010. If no attempt is made to settle , we will have no choice but to conduct a short sale or let the home go in to foreclosure.

Consumer

Response:

S

Business

Response:

Our records indicate there is still additional financial information needed to proceed with the loan modification process. On December 9 2009 our office made contact with Mr. Price to attempt to gather the additional documentation. As of the date of this letter the information has not been received by our office.PennyMac has an experienced team of Home Loan Preservation Specialists that provide the support and guidance that will help our borrower with their home loan. However it is important that our borrowers provided all documentation requested.

Review: Our basement flooded in January '15. The resultant damage came to 15k which meant our insurance company, State Farm, had to make a check out to my husband and me as well as the mortgage company, Penny Mac. The check after deductibles and other monetary deduction nonsense came to just over 9k which we had to send to penny Mac along with paperwork proving the damage happened and bills of receipt, etc. we sent that over end of feb/beg of March and have to receive any disbursements from penny Mac even though Ive confirmed they have everything. An inspector from penny Mac has to ok our reconstruction of basement and he/she hasn't called to set up in a timely manner. I am not allowed to call inspector. We have already paid over 10k out of pocket and want what we rightfully deserve.Desired Settlement: Pay us our insurance money.

Business

Response:

PennyMac Loan Services, LLC, (“PennyMac”) strives to provide superior customer service and process alltransactions in a timely and accurate manner. Thank you for forwarding Mrs. Leburn concerns to our attention and allowing us the opportunity to respond. PennyMac values and protects its customers’ confidential information. Due to privacy reasons, we will refrainfrom posting any personal information to the Revdex.com site as we do not disclose our borrowers’ personal information.

Review: PennyMac has withheld funds for more than 60 days preventing us to have the insurance money (State Farm) to get our home repaired. They claim numerous times that there is missing paperwork, even though we have sent it by Registered Mail (USPS) as well as by fax. Each time we call to check on the 'status' of our claim, we are told a different story by a different claims rep. For instance, when we called on Monday the 6th of April, we were told our endorsed checks had arrived and would take "up to 48 hours" to process. When we called back Wednesday the 8th, we were told "The checks were not yet in the system and it could take 7-10 business days for them to clear". Each call is a different story with conflicting truths and timelines. We called five (5) days in a row asking to speak to a supervisor and was told each time, "You are on the 24 hour call back list", yet have not been called back...not even once. We were informed that only 1/3 of the funds would be disbursed at a time unless we submitted a request for 50% release of funds, which we immediately did. Less than a week later we were told that "The Investors never approve more than one-third." It is now more than 60 days since the first check from our insurance company was issued to fix our leaky roof and still pennymac is holding that money hostage with lies and deceit.We are in the midst of the "rainy season" here in Western Arkansas, and each day brings more rain that flows through the roof into our home, onto the floors, subfloors, floor joists and foundation. The damage that is occurring is tremendous! We need a new roof...now!Desired Settlement: We want ALL insurance money immediately released for repair of this home. We want pennymac to pay for the mold remediation. We want pennymac to be fined for violation of RESPA, section 6, timely payments of escrow. We want pennymac to pay punitive damages for the stress, hardship and trouble they have visited upon us. We want compensation for pain and suffering. Pennymac should be penalized compensatory damages for their egregious conduct. We expect pennymac to be fined. We want an apology.

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. [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. [redacted] on April 16. April 17 and April 20, 2015 to discuss his concerns. Mr. [redacted] was provided with a substantive response that addresses his concerns.PennyMac confirmed that his claims funds were issued to him overnight. Mr. [redacted] was provided with a tracking number as well. A 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: My compliant is three-fold: 1) An online pay option error, 2) late payment notification, and 3) the company paid my homeowner's insurance late. First, online payments store my checking info so I don't have to reenter that each month. Two months ago, my payment was not deducted from my checking account because I was told by PennyMac "someone" keyed in the numbers incorrectly. Hopefully they did not charge me the $20 fee. Secondly, I decided to do automatic bill pay with my credit union so I had an officer (not a teller) do the online entry for me. Late on June 30th when I got home, I got TWO Pennymac notices that my mortgage payment had not been made for June. I called PennyMac as soon as they opened the next day and told them I would be calling the credit union to find out what was wrong; I had already checked with online banking and found that the money had not been deducted from my checking account. Since this was past the 16-day grace period, I'm worried my credit score has docked AND I was definitely charged $18 late fee. I have now done auto bill pay entry myself because the officer had set the payment up for ONE MONTH ONLY. I called PennyMac back to give them the details and to make the mortgage payments for both June and July by phone. In addition to the two written notices I had received, I got a phone call telling me I would receive a packet in the mail as a matter of routine since my payments had been late the last two months. I explained again what had happened. Two days later I got another phone call asking me to make the payment(s) and later that day I got another phone call; he apolgised for making the second phone call. I got yet another phone call, but they hung up when I answered. Third, I received notice that PennyMac had not paid my homeowner's policy which needed to be paid May 30. I called Farmer's Insurance and was told the check had been received June 5 and there would be no late fee. PennyMac should have paid my homeowner's policy on time.Desired Settlement: I request a letter from the head of the company, CEO if that is his/her title, addressing these problems. 1) I should have received notification from PennyMac of late payment prior to June 30th when the credit union made the error in setting up the payments. 2) I want to be sure I was not penalized $20 for whoever keyed in the numbers incorrectly in June since they were already saved in my computer.3) I want to know they will pay my insurance on time.4) 4 phone calls in a day? Really?!

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 Mrs. [redacted]’s 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 Mrs. [redacted]’s loan to ensure that her concerns were addressed. A representative from our office spoke with Mrs. [redacted] on July 11, July 14 and July 17, 2014 to review her concerns and provide resolution as it relates to her June and July payments as well as her concerns regarding the insurance payment. Mrs. [redacted] is satisfied with our response and action taken to resolve the matter. PennyMac is in the process of finalizing a written response to confirm our telephone conversations and review of the loan. 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 10125905, and find that this proposed resolution is acceptable to me. I will be grateful when I receive the written notice from PennyMac about this, and see the actions completed by PennyMac which they agreed to do.

Regards,