PennyMac Loan Services

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.

My mortgage was purchased by PennyMac, and 3 months into servicing my loan, I am wholly unsatisfied with PennyMac. It is 11/23/2015 and I have yet to receive any billing in the mail for this month, upon calling their customer service line, I get a recorded message that PennyMac has just shipped out this months paper bills and they will not be available online either until the 27th.

The best that a customer service representative could tell me is that I have "grace period" until the 16th so I wont be penalized me with late fees. He attributed the late billing due to their printers, all their bills were misprinted and had to be run off again.

THIS IS WHOLLY UNACCEPTABLE. Late billing combined with the Thanksgiving holiday. Absolutlely no notification of PennyMacs complete FUBAR. PennyMac is proving to be a complete cluster.

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: 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: 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: 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: 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:

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: 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: 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.

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: 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,

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: 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: PennyMac's automated system keeps calling me telling me to call them but when I call them, they tell me that they haven't called me and I don't have a loan with them. They need to stop HARASSING ME!Desired Settlement: I want them to stop HARASSING ME. I don't have a loan/mortgage with them.

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 manner. Upon receipt of the Revdex.com notification, a PennyMac Representative contacted Mr. B[redacted] on July 10th and July 15, 2015, to discuss his concerns. A voice message was left to Mr. B[redacted] at his primary telephone number with an agent direct line and extension. A Letter of explanation will be sent to Mr. B[redacted], under separate cover. PennyMac values and protects its customers’ confidential information. Due to privacy reasons, we will refrain from posting any personal information to the Revdex.com site as we do not disclose our borrowers’ personal information.

Review: I had entered into a loan modification with Bank of America at the beginning of 2013. By the time all the paperwork had been completed, PennyMac had purchased my mortgage and had began servicing the loan. The completed modification was submitted to PennyMac, after trial payments had been made, by September 2014. There was no mention made of any missing documents or any problems with the paperwork. Shortly afterwards, I began receiving billing statements from PennyMac showing that I owed over $2000. I then called only to be told that the modification was still being processed and to ignore the statement. I began to regularly communicate with PennyMac loan services to which I was told repeatedly that the modification was being processed and to give it another 30 days. When tax season came around, the 1098 showed that I had only paid approximately $2000 in property taxes and insurance premiums on the loan. After finally contacting someone other than a CSR, I was told that a document was missing from the modification which was delaying the entire process, my credit would be repaired and that a Senior Vice President was working on correcting my 1098 form. I was only two days ago that I received a phone call from a PennyMac CSR whom informed me that PennyMac was issuing a Notice of Intent to Foreclose on the property when I had made all my payments, fulfilled the stipuations of the Loan modification and followed the advice from the PennyMac employees.After doing some research, I discovered that this particular chain of events was anything but happenstance as PennyMac has a history of following this pattern of action usually resulting in several of their clients having to file bankruptcy in order to distance themselves from PennyMac, Bank of America, and EverBank. This is a clear violation of 15USC 1681 by practicing willful negligence by losing loan modification paperwork while damaging consumers credit rating and proceeding with foreclosure proceedings against consumers who are NOT a foreDesired Settlement: The resolution I would like the Revdex.com to assist me with is:Credit repair from PennyMac reporting 16 months of non-payment of my mortgageImmediate auditing and correcting of my loan accountAt the completion of the audit I would like for a statement from PennyMac and Ever Bank to be issued, on their letterhead, clearly stating I am not a Foreclosure Risk and that my account is CurrentPursue other litigation to end this practice as required

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 forforwarding 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 are addressed. A representative from our office called Ms. [redacted] to provide resolution as it relates to her request regarding the credit reporting. PennyMac is in the process of finalizing a written response in regards to researching his concerns.PennyMac values and protects its customers’ confidential information. Due to privacyreasons, we will refrain from posting any personal information to the Revdex.com site as we do not disclose our borrowers’ personal information.

Review: We were solicited by our mortgage company PennyMac to refinance out home. After talking with G[redacted] about the details of the refinance, we agreed to move forward.

We were told to bring about $2400 to closing, which we agreed to and we would need to provide one utility bill, both social security cards, and 2 months of personal bank statements. All of which we provided. After we signed everything that was given to us and after we paid the $100 application fee we were informed that our escrow account was short and we would need to bring in an additional amount to closing of about $1100, bringing our total amount to close to about $3500-/+. Since we had already paid the application fee of $100 and had our credit run by PennyMac AND had to provide additional documents to get out title cleared, we agreed to the additional amount.

Then we were contacted by our processor Carole Aversa asking for proof of funds to close from another bank account so we provided our business savings account statement. Then we were asked for two more months statements from that savings account, which we provided. THEN we were asked for our K1 to show ownership of this account. We then sent the K1, only to be told that was not sufficient. We feel we were lied to about what would be required to obtain the refinance. Two personal bank statements is what we were told and now we are being asked for many other documents. The most recent form was a donor/gift letter so that we could say a family member was gifting us money to close the loan. We do not have such a family member that would sign such a document. Yet another document that they are asking for that we do not need because WE have money to close the loan. We would not have agreed to come to closing with the funds if we did not have them. Nor do we have a family member that could or would gift us the amount to close.Desired Settlement: We either want PennyMac to:

1. approve the loan on the conditions that were told to us when we agreed to the loan and cease the continuous request for documentation.

or

2. Refund our $100 application fee and remove their inquiry from both of our credit reports.

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. C[redacted]'s concerns.PennyMac strives to provide superiro customer service and respond to all inquiries in a timely manner. Upon receipt of the Revdex.com notification, a PennyMac Representative contacted Ms. C[redacted] to discuss her concerns regarding the refinance on December 17, 2015. Regrettably, we were unable to reach her and a voicemail was left with the contact information. A detailed letter of explanation will be sent to Ms. C[redacted] under separate cover within 30 business days.PennyMac values and protects its customers' confidential information. Due to privacy reasons, we will refrain from posting any personal information to the Revdex.com site as we do not disclose our borrowers' personal information.

Review: For approximately one month, we have been trying to work with PennyMac to bring our mortgage up to date. My husband has spoken to several people at PennyMac about options to remedy our mortgage payments. I am the only one working presently, and having some difficulty keeping up with payments. My husband has spoken with multiple people at PennyMac, but NO one has offered to discuss any options with us, even though PennyMac continues to mail me letters stating they would like for us to call them immediately to discuss options to remedy the mortgage payments. We have done all we can to contact PennyMac to discuss any and all options to bring our mortgage up to date, but PennyMac will NOT return phone calls, NOR draw up any proposals to assist us in meeting our obligations. I truly would like to work something out with PennyMac, but they won't work with us, and they continue to tack on huge interest rates making it more difficult for us to catch up and bring our account up to date. It seems intentional that PennyMac is not returning our calls and they refuse to openly discuss ANY options to remedy this situation.Desired Settlement: I would like to discuss any option for bringing our mortgage up to date. I want PennyMac to drop the interest rates they added to our mortgage payment because we notified PennyMac, when we encounter difficulty making payments and requested to discuss some type of arrangement that would allow us to catch up with payments. PennyMac told my husband that they would look into options for assisting us, however; NO one has put anything into writing, NOR returned any of our phone calls.

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. Cooper’s concerns to our attention and allowing us the opportunity to respond. Upon receipt of the Revdex.com notification, our office contacted Mr. Cooper to provide him with a direct phone number to the person who can address his concerns. PennyMac is in the process of finalizing a written response.PennyMac values and protects its customers’ confidential information. Due to privacy reasons, we will refrain from posting any personal information to the Revdex.com site as we do not disclose ourborrowers’ personal information.

Business

Response:

PennyMac Loan Services, LLC, (“PennyMac”) strives to provide superior customer service and process all transactions in a timely and accurate manner. Thank you for forwarding Mr. [redacted]’ concerns to our attention and allowing us the opportunity to respond. Upon receipt of the Revdex.com notification, our office completed a thorough review of Mr. [redacted]’ loan to ensure that his concerns were addressed. A representative from our office called Mr. [redacted] on October 8, October 10, October 16 and October 17, 2014, to review his concerns and provide resolution as it relates to his request for mortgage assistance and October payment. Unfortunately, our attempts to contact him were unsuccessful. PennyMac is in the process of finalizing a written response in regards to researching his concerns.PennyMac values and protects its customers’ confidential information. Due to privacy reasons, we will refrain from posting any personal information to the Revdex.com site as we do not disclose our borrowers’ personal information

Consumer

Response:

Review: 10250146

I am rejecting this response because: although my husband did speak with a representative from PennyMac today, 10/21, we have just started a discussion to address our mortgage concerns. Nothing has been finalized, and won't be until PennyMac and myself have reached some kind of arrangement concerning our mortgage.

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!!!

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.