PennyMac Loan Services

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: Two issues at hand here, but I'm not sure if they're related. We closed on a refinance with another company on 7/1 and were told that our escrow refund check was mailed 7/20, and have not received it yet. Have been told to expect it to take 7-10 days to arrive in the mail. Has been 8 days and have not received it yet. Found out today that Penny Mac paid our home owner's insurance out of someone else's escrow account. Supposedly another family that has our same last name and lives in our same zip code. Called today for details, after having been notified of a problem by our Allstate insurance agent. Tried to get in contact with a supervisor [redacted]. at extension 75140. After making several calls and leaving messages that were not returned for over an hour, and wanting this to be resolved today I called back and had a very helpful customer service agent who stayed on my entire call- [redacted] at extension 5449 (I am very thankful for his service that kept me sane today) who waited with me nearly 30 minutes--- I had already been on hold over 10 before he answered--- but when [redacted]. answered he was VERY rude in tone and accused me of lying about his contact with me (completely ridiculous and uncalled for). I have a 1 year old and was unable to answer when [redacted] had first tried to call me, and was unable to get all of the details from my Allstate agent as I was trying to get my baby down for a nap. I called Penny Mac while my baby was napping- actually took FIVE calls over the course of TWO hours, and [redacted]t was extremely unprofessional and rude. I will be telling everyone I know to avoid Penny Mac at all costs and hope [redacted] gets a job with a better company or gets promoted and people like [redacted] get replaced with competent customer service representatives. If we haven't received our escrow refund in our mail by the end of this week my lawyers will be contacting Penny Mac on Monday.Desired Settlement: Need to receive escrow account refund in full ASAP

Business

Response:

Thank you for bringing this matter to our attention andallowing PennyMac Loan Services, LLC (“PennyMac”) the opportunity toreview and respond to Ms. B[redacted]’s concerns.PennyMac strives to provide superior customer service and respond to allinquiries in a timely manner. Upon receipt of her concerns, a PennyMac representative contacted Ms. B[redacted] on July 29, 2015. Please be assured, PennyMac is currently in theprocess of researching the insurance premium payment and a letter of explanation will be sent toMs. B[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.

Review: Complaint Description:PennyMac didnt call me or email me to say that my mortgage was transferred to them, as my new mortgage company they put me delinquent status and sent a foreclosure notice. On July 28th my bank alerted me via my bank account that my July mortgage payment was returned because my mortgage account is closed (apparently my mortgage was transferred in April). My mortgage company Franklin A. didnt call me or email me to say that my mortgage was transferred, the new mortgage company Pennie Mac put me delinquent status, foreclosure notice at my credit report because to them I didnt pay the correct amount for month of June and July. They did receive the month of June payment but claim that since it wasn't the new amount so they applied it to the principal but I had to pay two months mortgage payment and penalty fees to bring my account to date.Desired Settlement: Your Desired Resolution:To have my credit status be as it was before because they have falsely claimed that I did not make the mortgage payment. This was because my payments were going to the previous mortgage lender who did not inform me that my mortgage has been transferred. Also I had to pay two months of mortgage and a penalty and got a delinquent status at my credit report hence ruining my overall credit score. I want the delinquent status removed because it was not my fault, I want the p

Business

Response:

Thank you for bringing this matter to our attention andallowing PennyMac Loan Services, LLC (“PennyMac”) the opportunity toreview and respond to Mr. C[redacted]’s concerns.PennyMac strives to provide superior customer service and respond to allinquiries in a timely manner. Mr. C[redacted] was contacted on August 5, 2015,and was provided with the direct contact information for therepresentative assigned to his account. PennyMac is currently in theprocess of researching his concerns, and letter of explanation will be sent toMr. C[redacted] under separate cover.PennyMac values and protects its customers’ confidentialinformation. Due to privacy reasons, we will refrain from postingany personal information to the Revdex.com site as we do not discloseour borrowers’ personal information.

Review: Product issues is the closest to what my complaint is I suppose. My issue is that we were previously with Bank of America for quite a few years and our payment never went over $1240.00 as we have a fixed VA loan rate and our property taxes have not gone up, in fact we switched insurance companies and our insurance is way less per year than it was. We got switched to PennyMac about six or seven months ago and we were paying the same amount as through Bank of America but should have lowered monthly at the end of this year due to cheaper insurance. As of December our payment went up $300.00 dollars a month which is rediculous considering our property taxes are the same and we have cheaper insurance. When I asked about it all I got was it is an escrow shortage. How is that possible there was no explanation of where the shortage was or how it was short which is should not have been, especially $300 a month short. There is something not right about this whole thing, I have seen the numerous complaints about PennyMac and their practices, I was unsure of this company when we were switched to them by Bank of America, but crooks deal with crooksDesired Settlement: I want our payment back to or less than it was previously. With nothing going up the payment should not jump $300 dollars a month, if there was a shortage it is their fault not mine as we never had a shortage with BOA so not sure what PennyMac is messing up. I don't care how they accomplish it I just want the payment fixed as nothing of ours went up this year as far as taxes or insurance so this needs fixed ASAP or I will be writing my Senator to look into the matter

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 am an active duty military member in the Air Force. I applied for a mortgage and was approved by Prosperity Home Mortgage in March 2014, they sold my mortgage to PennyMac. I set up my payment to PennyMac on a military pay allotment. A deposit was made into PennyMac's Bank of America account on May 1, 2014 in the amount of $1,500.00 by DFAS on my behalf. I have been calling PennyMac every other day since May 1st to verify that they have received my payment. On May 7th (after my 4th phone can inquiring to see if they found the $1500 yet) they advised me that I could file a missing payment report... That request was denied on may 9th and I was not made aware until I called them again on the 11th to see if they found my money. At that time I requested to talk to a supervisor, the supervisor I got in contact with was Mr. [redacted]. On May 12th I provided a Mr. [redacted] with a copy of my military LES as proof of payment and he submitted the missing payment report. I hve left numerous messages on Mr. [redacted] voice-mail and have even sent him e-mail to inquire the status of my $1500. On May 16th I called PennyMac again and decided to make a payment to prevent my loan from being "past due". Today is May 22, 2014 and PennyMac has not found my payment of $1500. The local finance office on Charleston AFB, SC verified the routing and account number and because it went to the correct account, they said they are unable to do anything on their end. I have notified Mr. [redacted] via voice-mail that I was going to contact the Revdex.com with my complaint. He has not responded. Please help, making the payment on May 16th has stretched my income as far as it can go, and if they do not find this money, I am out $1500, and apparently there is nothing I can do about it.Desired Settlement: I want the $1500 that was deposited into their account (Bank of America account # 1235983182). Applied to my load to cover my June payment. I have already stopped the military pay allotment and will be making other arrangements for future payment.

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 concerns to our attention and

allowing us the opportunity to respond.

Review: I made my normal mortgage payment of $1,186.38 by phone on March 16th, 2015. I agreed to the above amount and it was confirmed. 2 days later when the payment was taken from my bank account it was in the amount of $1,541.07.. an amount I never authorized. When I discovered this huge change in my mortgage payment I contacted PennyMac by phone on march 23rd. I was assured that I would get a refund the following week. I then received a phone call on the Thursday stating we needed to call them back about the amount. Sinve I was at work and unable to call till today. I was informed that we would not be gwtting our refund without prof of the debt accurring although they know it went into our principal.Desired Settlement: I would like my refund in the amount of $354.69

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 attempted to contact Mr. [redacted] to discuss his concerns. PennyMac has confirmed that his payment refund was processed and mailed to Mr. [redacted] on April 1, 2015. A resolution letter 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.

Consumer

Response:

I have reviewed the response made by the business in reference to complaint ID 10555546, and find that this resolution is satisfactory to me.

Regards,

Review: Penny Mac had NEVER paid a penny to my Homeowner's Insurance. This has resulted in my insurance being cancelled twice. The first time it was cancelled, I struggled to find a company that would insure my house as my history looked as if I just didn't pay my insurance. As a result, this second policy is easily double what I should be paying. I received a notice from my insurance company that my SECOND policy had been canceled. I had a three-way conversation with my mortgage and insurance companies. I was assured that a check would be overnighted and the policy reinstated. And, of course, I would not be responsible for the $15 late fee. Except, the entire amount, including the late fee, was withdrawn from my escrow the next day. I have spent an hour on the phone with various Penny Mac representatives and all anyone will tell me is that it is Penny Mac policy to advance the money and just write one check. This makes perfect sense. Except for the fact that there was never a penny added to my escrow. I paid the entire amount. On the phone, I tried to be understanding and say that maybe this time that step was left off. After all, I'm sure it is also standard procedure to pay insurance premiums. Instead of coming to any resolution, I was treated as if I was completely ignorant (couldn't I see that they covered part of the amount because my account didn't have enough in it?) and told all they could do is send me a letter that the advance was made, even though my balance would not change. I have a degree in Mathematics. I can add and subtract.Desired Settlement: I would like to have a conversation with and resolution from someone that can actually do something about this issue. Not only do I want Penny Mac to pay the $15 late fee that is their responsibility, I would like to discuss the ridiculous amount of my Homeowner's Insurance, also due to Penny Mac's lack of responsibility.

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 Mrs. E[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 Mrs.

V[redacted] to discuss her concerns

regarding homeowners insurance disbursed on December

8, 2015. A detailed letter of explanation will be sent to Mrs.

V[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 our borrowers’ personal information. Tell us why here...

Review: From this May (2015), PennyMac charged me 400+ extra each month. I've called them 3 times (on Jul, Oct and Dec) and each time they said it was a mistake in their system and they'll stop charging extra amount and refund to me. But guess what? I NEVER received the payment and still seeing they charge me each month.

Every time I was transferred to Issuance department because the extra charge was caused by abnormal issuance issue (even though my issuance company have already faxed my valid document and they even admitted online they received that). After Issuance department, I was transferred to CS, and they admit their mistake again, and then ask me wait cause they need some time.

I'm really disappointed and frustrated on this. Should I call my lawer ? The total extra charge is now 3000+, and they're still DOING IT!Desired Settlement: From May 2015, I was charged 421.04 for 8 months, and total amount is 3368.32. All I want is stop charging this and get refund by check ASAP.

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. Z[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.

H[redacted] to discuss his concerns

regarding homeowners insurance on December

15, 2015. A detailed letter of explanation will be sent

to Mr. H[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 our borrowers’ personal information.

Consumer

Response:

Review: 10996002

I am rejecting this response because:

My loan was purchased by penny Mac and have had nothing but problems with them. My Liam dropped $300 when the purchases it and I called not once but twice to clarify. They said everything looked fine. I specifically asked if escrow was correct they said yes. Come to find out it wasn't. When property taxe came I was $6700 short. My payment went from 900 back to 1200 them up to 1800 Bc of the shortage in escrow. They also started to auto pay my incidence out of my escrow when I didn't tell them too..... All I got was you should have been looking at your escrow balance. Egh now I possibly getting foreclosed on. This is a horrible company. Refinance if you can.

Review: The loan for my daughter's home was sold to PennyMac from Bank of America. I am a co-borrower, but was not notified of the change. However, my daughter mailed PennyMac a check for the first payment rather than setting up the online account. The check hasn't been cashed yet, but I have been reported to a credit agency for being 30 days past due on a loan. Although I am the co-borrower, I have received no notifications from PennyMac, and my daughter received no information that her check had not been received. I only discovered the problem due to my identity theft credit monitoring service.Although I would like to just pay off the loan, I am not allowed to do so on the PenneyMac website and I can't speak to a human on their telephone service to inquire further. Despite calling during normal business hours, and going through several levels of their telephone routing system, I am eventually cut off and told to call back during business hours. I did adjust for the time zone difference between the east coast and the west coast.After reading other complaints, I am wary of giving them auto-draft capability on any of my personal accounts. Although I would like to pay off the loan, their website states there is a fee (undisclosed amount) to request the pay off amount and I can't reach a live human to discuss payment options.Desired Settlement: I would like PennyMac to remove the negative credit information since it seems inappropriate to report a customer without notifying them that their payment hasn't been received. Additionally, the co-borrower should be notified when the loan is sold to ensure that new payment methods are in place. Customers should be able to pay off the loan if desired without penalty since this could have been done before the loan was transferred to PennyMac.

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 Dr. [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 contacted Dr. [redacted] on February 12, 2014, to address their concerns. Dr. [redacted] was provided with a substantive response that addresses his concerns during our conversation. Dr. [redacted] was advised to submit documentation that supports their position regarding the monthly mortgage payments. PennyMac received the information and completed its review of the loan on February 26, 2014. This letter will acknowledge that Dr. [redacted]’s request was to update their credit profile was completed.

Pursuant to Federal Regulations, PennyMac is required to notify a consumer no more than fifteen days after the transfer of service of a loan. A copy of the Welcome Package we sent to address on file was resent to Dr. [redacted] with our substantive response.

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.

Consumer

Response:

I have reviewed the response made by the business in reference to complaint ID 9921015, and find that this resolution is satisfactory to me.

Regards,

Review: Pennymac did an escrow analysis on for our mortgage in which they incorrectly analyzed the amount of property taxes owed per quarter, resulting in a substantial increase in monthly mortgage payments due. We were sent the notification on November 4, 2014. It is now January 5, 2015 and they have yet to rectify the problem and update our mortgage payment to the correct amount. We have called approximately 8 times within the last 2 months trying to get our payment adjusted to the correct amount and regardless of number of attempts to ask them to correct, they have yet to do so. We pay our mortgage on time by the first of the month every month, and are currently unable to make our payment due to the incompetencies of Pennymac.Desired Settlement: We want our mortgage payment 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. [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, aPennyMac Representative contacted Mr. [redacted] on January 8, 2015, to discuss his concerns. Mr. [redacted] was provided with a substantive response that addresses his concerns. PennyMac confirmed that his escrow was corrected and his payment amount updated. 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 tothe Revdex.com site as we do not disclose our borrowers’ personal 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 Mrs. [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 Mrs. [redacted] on January 12, 2015, to discuss her concerns. Mrs. [redacted] was provided with a substantive response that addresses her concerns. PennyMac confirmed that her payment amount has been corrected. An apology letter and letter of explanation will be sent to Mrs. [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:

I have reviewed the response made by the business in reference to complaint ID 10368395, and find that this resolution is satisfactory to me.

Review: I researched on the internet the possibility of qualifying for the HARP program; I missed it by two months on the deadline. But I thought they still might be able to assist me in refinancing my residence. I was put in touch with Ben Lipska. I spent some time on the phone with him and he told me that I would need to come up with approximately $7,500 to close the loan (Quicken loans had previously told me that I would need $13,000 to close the loan after a month and a half in process). I was going to go with Pennymac (7/11/13) but had second thoughts and emailed this to Ben. I thought that it was understood that if I changed my mind, I would contact Pennymac. By 12 noon on Monday, I had at least 4 messages (combination of telephone messages and emails to my residence, cell phone). I find this to be harassment.Desired Settlement: I just wanted to report this disturbing behaviour.

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.

Allow me to begin by apologizing for any frustration and inconvenience that Ms. [redacted] may have experienced while working with PennyMac. Let me assure you that the service described by Ms. [redacted] is not typical of the service expected by PennyMac. Senior Management has been apprised of Ms. [redacted]’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. A review of our records confirms that PennyMac received Ms. [redacted]’s request to cancel her transaction without a specific reason for the cancellation.

PennyMac’s Loan Officer attempted to contact Ms. [redacted] to ensure that she was making the best financial decision for herself, as according to her previous conversations with the Loan Officer, she would have received a significant savings towards her closing costs by choosing PennyMac. Additionally, interest rates had increased the day her request was received; therefore, prior to processing it, the Loan Officer wanted to inform Ms. [redacted] of the recent changes to the rates.

PennyMac attempted to reach Ms. [redacted] once on June 11, 2013, once on June 12, 2013, and once on June 15, 2013 to the two telephone numbers that were available, prior to canceling her request. PennyMac does not deem this number of attempts as harassment as indicated by Ms. [redacted]. No further attempts were made to reach her after June 15, 2013.

Review: We applied for and received a refinance loan from our honor credit union. The credit union and First American Title have tried unsuccessfully to get a fax for loan payoff. We've called over and over. They have refused to fax payoff information for nearly a week now. We've missed two closing signings due to PennyMac refusing to share info to the new lender.My last phone call with them they now say it will be an additional 5-7 DAYS to send a fax. Why this delay tactic? Why are they trying to make us lose our closing???Desired Settlement: I want the fax to Honor Credit Union NOW! As in yesterday!

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 concerns to our attention and

allowing us the opportunity to respond.

Review: Dear Revdex.com, I have a Pennymac loan for a little over a year. Around the end of 2014,they sent me a statement telling me that my escrow account was short for the projected amount needed for the taxes in 2015 by 400 something. The letter said that I could either pay the shortage in full now or it would be recalculated within my mortgage payment for 2015. The new payment would begin March, 2015. I had the "brilliant" idea of simply sending the entire projected escrow amount for 2015 (a little over $3000), thereby eliminating the need to include that amount in my mortgage until the next projection calculation was done at the end of 2015 for the following tax year, 2016. When March's statement came in the mail, it was still showing the recalculated mortgage payment although the escrow account had already been paid. When I called customer service, I explained my intent to the rep and she first congratulated me on how smart a move she thought that was and then she said she would document my account accordingly and have my account adjusted and a revised statement sent. Never received a revised statement. Today, my April bill came. And on it, they have that I now owe them two months of the recalculated mortgage and the money I sent in March for March apparently was put on a "hold" and not applied at all to my account at all. I called customer service again and spoke with another rep by the name of Elizabeth, who initially tried to tell me that it was against VA (Veteran's A rules for me to pay a lump sum to my escrow account--that it had to be paid through my monthly statement. Then she offered to refund the overage on my escrow account (which would result in me having to send it back in increments with my mortgage payment.) When I repeatedly told her how ridiculous, illogical and unnecessary that was, I asked her to show me the rules that say I cannot or I am not allowed to pay ahead of time into my escrow account and simply have the monthly recalculated to reflect that for the year. She put me on hold.Desired Settlement: After going back and forth with [redacted], she suggested that my only other potential option without them sending me the overage back, was to continue to call each month to insist that the smaller amount I am sending (the principle and the interest) be released from the hold that it will be on just because I am not sending the additional money that is supposed to go to the escrow account, although that money has already been sent). I am willing to do this but in all honesty, I shouldn't have to.

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]’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 be sent to Mrs. [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.

To add to what others have said about Penny Mac loan servicing, they are terrible. I have never had any issues with mortgage services over the 10 years I have had my mortgage, until Penny Mac. They have the worst customer service and because there system recognizes your phone number, I get the same customer service rep who is horrible. They have down right lied to me when we needed help paying our loan because my young daughter had a freak accident and I could not work. They told me that they couldn't help me because I didn't have enough money coming in (no genius here, if I had money coming in I would pay it), then when I started working again I asked for help to get caught back up, they told me they couldn't help me. Then they quite sending statements because I had not made a monthly payment. I called and asked for an emailed copy or upload to there message board, they said they were not equipped to do that. This is 2015, they are not equipped to use the systems we all use. They continue to call me about my late payments. I won't even get started on their lack of customer service.

My loan was bought by PennyMac and since then it has been a nightmare. My insurance rep has sent notices in regards to payment and so have I for my insurance payment.I have also sent them information that PennyMac requested stating that I had insurance. Upon calling them today, PennyMac precedes to tell me that they paid the bill. The unknowledgeable customer rep at PennyMac then states we switched insurance which is untrue and then when asked where our money from our escrow went ( because there was a check somewhere for the insurance company that was taken out our account) she then tells us, "We possibly cut a check on 7/13 and never sent it or sent it to our insurance company instead of yours we done this to a couple thousand members" this was unbelievable. Horrible place!!!

Review: I have spoken to four customer service reps since December 3, 2013. I have also sent a number of e-mails, trying to resolve their mistake in our County Tax payment. PennyMac who utilizes a third party payer to take care of County Tax payments failed to follow policy when making these payments and have paid the County too much. The County has sent a refund of $76,326.79 back to the third party payer, who is Corelogic. But, for some reason PennyMac does not have information on this refund. My last contact with PennyMac was with [redacted], on January 13, 2014, he promised to call me back by January 15, with a resolution. I never received that phone call. And needless to say, my account is still not brought up to date. My account still shows that my County Tax portion of my house payment as $85.92 but it should be $58.31. I do not understand why this isn't resolved. There was no problem raising my homeowners insurance.Desired Settlement: Fix my account and get it corrected. Hire competent employees, implement a better training program, update your system, back up your word with action. Just do right by your customers.

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. Arbuckle’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 completed a thorough review the loan to verify the status of the requested corrections. Our office confirmed that as of January 21, 2014, the necessary adjustments were completed the loan pursuant to Ms. Arbuckle’s request.

An Escrow Disclosure Statement was mailed to Ms. Arbuckle providing her with a breakdown of the escrow account and confirming the changes to her monthly tax payment. In addition a refund was mailed to Ms. Arbuckle in accordance with the escrow analysis completed on the loan.

As of the date of this posting, all necessary adjustments were completed on the loan.

Review: Pennymac bought all Bank of America Mortgages in late 2013.Because of the terminal illness of my only living parent (only child),I had to declare banruptcy during the 2013 year. Since then I have tried to pay my housenote on the phone with Pennymac, I am told there is a $15 charge because and/or I will not allow them to tag my bank account monthly. This is the empitome of bankruptcy discrimination and extortion in my opinion. I have had mortgages with other companies that do NOT charge for phone payments because they get their money almost immediately.Clearly, this compnay is Not accreditted and this may one of the reasons they have not sought certification. They are outlaws with criminal consumer practices in my opinion. I report this to your bureau before I approach my attorney regarding civil litigation regarding the breaking of BR laws and shady practices of the company.Desired Settlement: Acceptance of phone payments by BR customers with NO Charge, effective immediately.

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 and professional manner. Upon receipt of the

Revdex.com notification, PennyMac completed a thorough review of the loan to address Ms.

[redacted] concerns. PennyMac prepared

a substantive response that addresses Ms. [redacted]’s concerns regarding her

account. Please be aware that due to the

status of the loan, PennyMac must refrain from discussing Ms. [redacted]’s loan

in detail.

Please be advised

that upon filing for bankruptcy protection, the United States Bankruptcy Court

imposes an automatic stay that requires PennyMac to stop any collection

activity, report the petition for bankruptcy protection and stop all future credit

reporting until the case is finalized.

PennyMac blocks access to online services while an account is in an

active bankruptcy case or if a bankruptcy case is discharged. Access to online services is blocked to

ensure that PennyMac does not infringe on the automatic stay imposed by the

United States Bankruptcy Court.

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: 9908597

I am rejecting this response because: My concern has NOT been addressed in the response. Why is there a fee of $15 for call in paymnets? I have no proboem with any late fees and legal fees. My concern, again, is the legality and the

empathy shown for people who find it more convenient to call in the payments with an electronic check authorization. Where I live it takes mail several days to reach California (7+). Please exempt people in my situation as quoted in the BR from such SERVICE FEES. I have dealth with mortgage companies (not all banks ) for over 50 years and this is the ONLY company with this fee.

Regards,

Business

Response:

Thank you for providing PennyMac Loan Services, LLC ("PennyMac") with Ms [redacted]d's rebuttal to our response.

Review: I made a pymt on 01/01/2014 of $1406.34. The funds were deducted from my account on 01/06/14. The company applied the funds to my escrow account instead of my monthly pymt. They said a refund was issued which I never rec'd from them. I called on 01/22/14 due to my online banking would not allow me to schedule my pymt for Febuary. I was then informed my loan was deliq. I have called and spoke to Perry ext 5156 and James 5185 in customer service, Luis in the escrow dept, and Evelyn who is a supervisor all of which told me this was being handled. They can NOT find the funds from my payment. I can not pay my Feb. payment because the issue with Jan. has not been corrected. I am now showing 30 days deliq on my loan which I have NEVER been. I have been given the run around, I don't feel like there has been any urgency in this matter, seeing as its been going on since Jan 22nd and I have no answers and they have seem to have lost $1406.34 of my hard earned money.Desired Settlement: I want my funds found and applied to my account as of January 1st. I want to ensure there are no late fees or late payments shown on my credit report. I paid them on time and there company has lost the money and messed up. This is not my error and I should not be going thru this crap!! I am pregnant and this stress is not good for me. I simply want this handled NOW.

Business

Response:

A thorough review of your loan’s account activity was completed to verify the payments applied to the loan. Our records show a one-time draft payment was scheduled with a draft date of January 1, 2014. Further review confirms the aforementioned payment was inadvertently drafted from your bank account twice and posted to your loan twice.

Review: Pennymac is the holder of my home mortgage. I pay on time every month to Pennymac. I started my loan with PMI(Mortgage Insurance) and have since paid down the loan to a point that the PMI should be removed. My home value has increased dramatically over the past year and I would have gotten an appraisal to show this to Pennymac, but it costs about $500 and they never told me that was an option. The PMI should actually be automatically removed when you get to 78% which I am now at, but they wont remove it...January 21 I requested the removal of my PMI as the ratio of loan to value was below 80%. It took nearly a month for Pennymac to reply(Reply dated February 19). Also, I was told by customer service that I would get a reply within 10 days... Their reply states that I now must pay for an appraisal or a BPO($125) to make sure the value of my home has not decreased. They will not allow me to obtain my own appraisal through an authorized appraisal company. They also will not allow me to obtain my own BPO through an authorized Broker. They mandate that I go through Pennymac on this, which seems extremely bias, if not illegal. I also find it hard to believe that Pennymac does not have access to home values in all areas of the country. They should be able to quickly calculate the loan to value ratio without forcing their customers to pay more for this. I am filing this complaint to make sure Pennymac is not breaking any laws in how they are treating me, and all of their other customers. I look forward to hearing a reply and I appreciate the assistance of the Revdex.com.Desired Settlement: I would like a refund for any PMI I have paid that I should not have. I would also like a refund for the BPO that Pennymac is forcing me to buy through them.

Business

Response:

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