PennyMac Loan Services

Review: I used their online check payment system to setup a post-payment check date for September 25th. Instead of taking the money in a reasonable amount of time, they waited till around the first week of October, which overlapped my October 1st payment making the total over $1300 to be drawn at one time. That made both checks become returned due to insufficient funds. Because of this my credit score had dropped and hurt my chances of moving to a new state for work. This is the first time anything like this has been so bad with my payment history to this company and when I called the customer service people kept giving me different advice saying to send a cashier's check overnight to the Moorpark, CA address arriving before the 16th and they would not record the delinquency to the credit bureau. Then today a different woman said it didn't matter that they received the check on the 14th before 3pm, it would get reported anyways. So I paid extra to overnight something for no reason is the first problem, but then the woman wouldn't let me talk and said, "let's get away from that subject, I no longer want to talk about that. Is there anything else?" Just dismissing my need to understand fully what was going on. I asked for hardship paperwork that they offered to send me October 6th because I'd been in the hospital the first part of September, so I could explain the issue to them and fix the credit reporting and it still has not arrived so I may be able to try and help myself where the CS people won't.Desired Settlement: Undo the bad credit score reporting due to my history of payments being fund up until now so I can get back in some good graces enough to get moved and start a new job. I'm surprised they are not more helpful seeing as how they bought my loan and I didn't pick them to be my lender. The VA sold them the loan and I had no say. I'd like to leave their company altogether for not helping me and giving me bad information and dismissing me. Fix my credit with a letter to my realtor so I can move on.

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.

E[redacted]’s concerns to our attention and allowing us the opportunity to

respond.Upon receipt of the Revdex.com

notification, our office is in the process of completing a thorough review of Ms.

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

representative called Ms. E[redacted] to discuss her concerns. PennyMac will send

a written response in regards to researching her concerns once the issue has been

researched and resolved.PennyMac values and protects its

customers’ confidential information. Due to privacy reasons, we will refrain

from posting any personal information to the Revdex.com site as we do not disclose our

borrowers’ personal information.

Review: Penny Mac acquired our loan from Bank of America in Dec. 2013. I made the payment due Dec 1 in person to Bank of America branch, and received a letter a few days later telling me to send the payment to Penny Mac. It is now May 2014 and Penny Mac is saying they never recieved December's payment, in addition we have been charged a late fee for each month since December. There has been no confirmation that December's payment was applied to the loan. We even made two payments in April to keep the loan current. Each time we call, a representative responds that our inquiry needs 3 days for review. We have received letters saying that they acknowledge our request, but no one has given us any answers. This has been going on since January to straighten this out, and we are very frustrated.Desired Settlement: We would like confirmation that December 2013's payment was received and applied to the current month. In addition, each payment after should not have acquired a late fee, as the payments were not in fact late. We also would like a statement made to the creadit reports that we are not in delinquency on our loan, as the payment was made to the agency that held the loan and was not applied and transferred, when the loan was sold.

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 William [redacted]’s concerns to our

attention and allowing us the opportunity to respond.

Upon receipt of Mr. [redacted]’s complaint, a thorough review of the

loan was completed. During a telephone

conversation between Mr. [redacted] and PennyMac on May 21, 2014, transaction

histories from Bank of America and PennyMac were discussed in detail in regards

to payments received and applied to the loan.

Mr. [redacted] was also advised of all the correspondence received by

PennyMac since servicing began, and a response to this matter was already

addressed in a letter he was mailed dated February 6, 2014. PennyMac has

informed William [redacted] that a correction of his credit will not be submitted;

however, as a gesture of good will, PennyMac has agreed to waive two late

charges.

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.

Penny Mac Purchased my loan from my original company which at first I didn't mind. I felt like I would have liked to have a say in the matted but shrugged it off. It was not Until I started having to work with my new lender that the frustration began.

It seems like PennyMac is stuck in the stone age. Electronic communication is beyond them and their wording on their website is not only confusing but misleading.

I was excited when I saw that they added internet payment option and I wanted to pay extra on my monthly payment. The options said. Amount and than how many payments I'd like to make. So I put in 200 and said I'd like to make one payment. For penny mac this translated to my asking to make two full payments plus 200 extra which overdrew my account and left me scrambling for 2 months to catch up on finances. They took all the payments electronically in a matter of 4 days but when I told them I had misunderstood and needed on payment returned I had to wait over 3 months to get it sorted out! It was on three ring circus of hassle after another to get this rectified.

Now I need a roof put on my home due to hail damage. My insurance campany was fast an efficient in sending out a check with both my name and pennyMacs on it with one week. Not three weeks later penny mac can't figure out how to handle it. They want me to cancel the check and re issue it. I HAVE HAD IT WITH THEIR AWEFUL COMMUNICATION AND INABILITY TO EXPLAIN THEMSEVES! I had to call my insurance company just to translate what the heck my mortgage company was trying to say.

I'm still working on getting this claim resolved.

"All in all Penny MAC Is a primitive and infuriating company to work with. They are happy to take you money as fast as possible but when it comes to any service; expect to spend no less that 2 months to accomplish anything. Get Ready to sit on your hands an wait if you end up with them as a mortgage company!"

Review: I owned two properties, one here in California and one in Wyoming. My complaint is against PennyMac for my Cheyenne, Wyoming property. As of this past July PennyMac acquired my [redacted] Ames Ave Cheyenne, WY mortgage. Upon receiving a letter I called to pay my loan on the 20 of July after having trouble paying my old mortgage company of Bank of America. I was informed by the service representative that I owed nothing and my first payment would be in August 2015. Thus when 06 August came I called to pay and was surprised to find that my balance was double my mortgage amount. Upon further investigation it was found out, after calling and talking to four different customer service representatives, that I had owed for July and that the original representative that I talked to never inputted my information or double check the information on the screen when I called and was looking at my California mortgage.I was told that a complain would be filed and a review completed. After which I would receive a call in 72 hours to inform me of the next step. When roughly 72 hours had pasted I called PennyMac on 11 August to inquire about the review, I was informed that the gentleman handling my review was no longer with the company. I then inquired as to what will be done and was told that the information would be raise to the next management level and I would be contacted. The next time I was contacted was 26 August requesting that I pay the mortgage in question. This is outrageous that no action has been taken by this company to fix their mistake, after I have given multiple chances to do so. No one has tried to understand or work with me on this situation, except tell me it will be evaluated to someone else to take care of. If this were to be reported against my credit due to a mistake by a customer service representative it would affect my career as well as all the time and stress of this event has taken on myself and my family.Desired Settlement: I would like someone in the position to make a judgement to contact and talk with me. To explain to me what the company can or is willing to do to fix this mistake. I was told I did not owe and now I owe double. This is wrong, they never had my cell number correct, yet state they called me several times in July. I do not feel I should pay or atleast pay the full amount. Some compensation should be giving to repay me for finding not one but three customer service issues.Thank you,Josh

Business

Response:

Thank you for bringingthis 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 allinquiries in a timely manner. A representative has been assigned to research and address Mr. B[redacted]'s concerns. A voicemail was left for Mr. B[redacted] with the direct contact information for therepresentative assigned to his account. Additional attempts will be made to speak with Mr. B[redacted] in detail. 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. As such, a letter of explanation will be sent to his attention under separate cover.

Consumer

Response:

Review: 10785870

I am rejecting this response because: Pennymac is not trying to resolve this issue. They have only called once. I have not received any other contact from this company. Thus they have again failed to provide timely and professional customer support.

Regards,

J[redacted]

Review: I've paid my mortgage (including escrow that is supposed to go towards home insurance and taxes) for more than two years, and PennyMac let my home owner's insurance lapse! So now there is a Hurricane in the Atlantic, and I haven't had home owners insurance in six days. When I called "customer service" to inquire about MY escrow insurance money, Jules (agent 41276) informed me that an insurance invoice was never received, so they had no idea who to pay. No one at the PennyMac office reached out to ME to see what I wanted done with MY insurance money, and PennyMac refuses to take any "additional" action until August 24. I have used the same insurance company from day one. There is no excuse to take the money out of my escrow account and not pay the insurance!Desired Settlement: Delivery of the insurance policy I paid for that PennyMac has the escrow money for with NO lapse in coverage. As of right now, my home is uninsured despite the fact that I have paid.

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. J[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. J[redacted]’s loan to ensure that her concerns are addressed. On August 20, 24, and August 27, 2015, a PennyMac representative called Ms. J[redacted] on the telephone numbers on file with no answer. PennyMac will send a written response in regards to researching her concerns once the issue has been researched and reviewed.PennyMac values and protects its customers’ confidential information. Due to privacy reasons, we will refrain from posting any personal information to the Revdex.com site as we do not disclose our borrowers’ personal information.

Consumer

Response:

Review: 10776221

I am rejecting this response because: I have received no phone calls, messages, or voicemails from PennyMac. My contact information has remained the same through out the entire mortgage process and to date.

Regards,

[redacted]

Business

Response:

PennyMac Loan Services, LLC, (“PennyMac”) strives to provide superior customer service and process all transactions in a timely and accuratemanner. Thank you for forwarding Ms. J[redacted] concerns to our attention and allowing us the opportunity to respond.Our office is in the process of completing a thorough review of Ms. J[redacted] 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 reviewed. A response has been mailed to Ms. J[redacted] on September 2, 2015 regarding her concerns.PennyMac values and protects its customers’ confidential information. Due to privacy reasons, we will refrain from posting any personalinformation to the Revdex.com site as we do not disclose our borrowers’ personal information.

Consumer

Response:

Review: 10776221

I am rejecting this response because: To date no correspondence has been received from PennyMac.

Regards,

[redacted]

Review: I mailed a check to PennyMac Loss Draft on 4/3/2015 for endorsement that I received from Narrangansett Bay Insurance Company for loss damage to my property that occurred on 2/15/15. The check needed to be endoresed by Pennymac, myself, and my husband. It is approximately 1 month since they received the check, I have provided all the requested documents to PennyMac in a timely manner. Every-time I call for an update I keep getting different feedback from the Representative. Nothing I am being told is consistent. Every 2 days I call, and I am being told; the system is down, it is with the processor - Lindsey, waiting for code, waiting for signature, it will be mailed out on Friday, etc. I have spoken to [redacted] etc, some I have spoken to twice or three times. But the problem is that the story is not consistent. I hear a different issue each time I called. Today I spoke to Beverly and she told me the system is down and everyone went home. Then I called back and I got [redacted], she said she is in. This situation is heart rendering. My basement was destroyed no fault of mine a pipe broke during the winter a d destroyed my furniture, the mortgage company has no mercy or any concern for myself and family well being. I told them my water heater broke and needed repairs immediately, and no one cares. I live in New York and had to take cold showers in the winter. Its taking too long and Pennymac is lying to me about sending the check. What gives them the right to hold on to the check for 1 month, the property is not livable currently and the first priority should be to get the property back to its original state of living standards or better. Why would it take them 1 month to endorse the check? And why does everyone I speak to at PennyMac Loss Draft have something different to tell me, its not consistency. My basement floors were ripped up and my whole house is dusty and everything is white from the bare concrete flooring. My children suffers from asthma and sDesired Settlement: I need Pennymac to endorse the check and send to me, 50% as requested to get the repairs done as discussed and submitted on 4/8/15 and 50% upon completion of the work. I was told that the check was being sent out on 5/1/2015. When I called today as advised for the tracking number I was informed by [redacted] that its still waiting on signatures from the processor [redacted] When I called on 4/27 & 4/30 I was informed by Anthony that it would be sent out Friday 5/1. But it was not done.

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]’sloan to ensure that her concerns are addressed. The requested loss drafts disbursement has been processed and mailed 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: 10605992

I am rejecting this response because: I was not given the full amount of the Insurance Loss Draft Check. I was given 25% of the total check and is still awaiting the balance to complete the renovations and pay the contractor for the work to move forward. The contractor has been providing his service to me base on a promise to pay, and the amount of work completed (90%) on the premises so far exceeds the payment of $4795.00 received from PennyMac Loan Services to date. The processing of the Loss Draft Department is not working swiftly or to have my property return to the state it was before the incident of the flooded basement that occurred on 2/15/2015. It's 3 months I had to endure dust, loss of use, etc., and the entire delay process has been the fault of Pennymac. Whereas, the insurance company (Narrangansett Bay) provided exemplary service in providing remedy to my situation from the moment the accident occurred. After receiving the check from the Insurance Company and forwarded to Pennymac Loan Service - Loss Draft, I have been given false and/or different information by each individual I spoke to regarding getting the proceeds from the insurance company. For instance I was told to have the contract indicate on the work order that he wants 50% upfront and 50% on completion, however, I was given a check for 25%. This information was verbalize to the contractor, now I am owing for work completed. Nothing has been consistent. I called and told Pennymac that 90% of the work has been completed, and they sent an inspector out, which he confirmed. I would like to know why PennyMac can't send the remaining balance of the check to me? and How soon would this disbursement take to process?

Regards,

Business

Response:

Records indicate the final inspection results were received on May 22, 2015, which confirmed that the repairs had been completed. Ms. [redacted] has been advised that upon receipt of the required documents, the final disbursement would be mailed to her attention. A detailed letter is being sent to Ms. [redacted] under separate cover.

Consumer

Response:

Review: 10605992

I am rejecting this response because: I called Penny Mac loss draft on 5/26 and spoke to CSR [redacted]. He informed me that they received the signed and notarized Release of Lien from the contractor, however, they would only be disbursing to me a portion of the funds (approximately $4795) because of my loan status. Prior I was informed that once 90 percent of the work is completed I would get the remaining balance. Currently 95 percent of the work is completed, the only thing left to completed is part of the flooring. My problem is the inconsistencies in information I get from Penny Mac and the turnaround time for everything to be done. I was told I have to wait 2 Weeks to get the check because of someone signing off, and then a month after to get another disbursement. My property was distorted on 2/15/2015. In a couple weeks it would be 4 months of pain and suffering. My question is why did Penny Mac request lien release from contractor when I am still owing him? And why was I told that I would get the full remaining disbursement upon receiving Release of Lien from Contractor?

Regards,

Review: I paid off my mortgage loan on August 8, 2014. After the mortgage is paid off, I had $3200 remaining in my escrow account. Based on information in my online account, Pennymac has issued a $2940 refund to me on August 29, 2014. It is now September 21, 2014, I have never received my refund. I have called them 3 times regarding the mailing of my refund check and, each time, the representative gives me a different explanation. The last representative I talked to told me that even though my refund has been processed, it needs to go through a bunch of people before it is finally mailed. From August 8th to August 29th, Pennymac had over 21 days to review any fees that may be associated with my account. In fact, on September 1st, Pennymac paid my last PMI payment which is for the whole month of September even though the loan itself has been paid off since August 8th. It is now nearly 60 days since my mortgage has been paid off and Pennymac refuses to mail me my refund check.Desired Settlement: Pennymac needs to send me my refund check by FedEx overnight. They should pay for the mailing fee of the check. They had close to 60 days to give me back my money. I should not pay any extra fees associated with the delay.

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] 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. A representative from our office called Ms. [redacted] on September 24, 2014 and September 25, 2014 to review her concerns and provide resolution as it relates to her escrow account. 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.

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. A representative from our office contacted Ms. [redacted] and confirmed she has received the escrow refund check as of September 29, 2014. Ms. [redacted] has also confirmed this case can now be closed.

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 10230069, and find that this resolution is satisfactory to me.

Regards,

Review: We have made double payments on three separate occasions in 2013 / 2014. We did not notice until January of 2014 that the additional payment made in the months of February 2013, July 2013, and January 2014 we were charged the interest for those months twice. The second payment should have gone 100 percent toward the Mortgage principal. When we contacted Pennymac at the beginning of January 2014 it took them 3 weeks to refund the interest that was double paid for January 2014. We have been calling constantly to check on the status of getting our interest corrected for the February and July 2013 extra payments and have not gotten any results. We have asked to talk to management and that has not helped either. We are always informed we will be contacted within 48 hours and we are never contacted.Desired Settlement: We would like to have our interest applied to the principal and the principal reduced by the amount it would have been if the additional payments were applied correctly. I would also like that amount to be carried forward so we are not charged the extra interest we were charged in the following month that would not have been their if our payment would have gone to principal as it should have. I just want the issue resolved correctly since I believed that a VA loan would be reliable.

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 process all transactions in a timely and accurate manner. Upon receipt of the Revdex.com notification, a thorough review of the loan was completed to verify the application of the monthly payments received. A PennyMac representative from our office spoke to Ms. [redacted] on March 17, 2014, after reviewing the loan activity. Ms. [redacted] was provided with a substantive response detailing the activity on the loan. PennyMac explained to Ms. [redacted] that her monthly payments were submitted via PennyMac’s One Time Payment option online; however, the payments were designated as Regular Payments and not principal only. A letter confirming Ms. [redacted]’s conversation with our representative will be sent to her. As a valued customer, PennyMac has agreed to reimburse the [redacted]s for interest paid as a result of her conversation with our representative.

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 9949636, and find that this resolution is satisfactory to me.

Thank you very much for your help!

Regards,

Review: Back in October I made my mortgage payment via the Online pymt because the mtg company charges a fee to pay with the rep over the phone. I wasn't comfortable with this method but it was free, after about 4 days I noticed my pymt hadn't been drafted from my account. I called and a rep stated that it was due to NSF, I told her no because the funds were there and I also use this account all the time. She really didn't help, so I called back the next day spoke to another rep who was wonderful she actually researched and stated that automated system left a digit off, therefore it kicked back. Mind you no one from Pennymac called to let me know. She told me to send a letter to the credit dept and they would take care of it. I sent a letter and they stated that basically nothing they could do, so I filed a complaint, and sent documentation, all along it took them less than 24 hrs to put on my credit report and my husbands, so that upset me. I got a call from a research lady and she just asked for proof the funds were there. I faxed over a copy of a statement page with the date, voided check and letter, I still haven't heard anything or received a call from them and oh my credit still reflects this. There are other customers with the same issue- and filing complaints as well.Desired Settlement: I would like for PennyMac to remove this 30 day late from my credit file, and also consider having other payment methods that don't charge a fee. Likewise, there customer service in my opinion has been great, never had issues until now. I value my credit and it has taken a hit due to this error. I am asking for removal immediately it didn't take long to put it on there, I don't need it to take long to have it removed. Thanks

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]' concerns to our attention and allowing us the opportunity to respond. Our office contacted Mrs. [redacted] on December 15, 2014, to confirm receipt of the notification received from Revdex.com. As confirmed during our telephone conversations with Mrs. [redacted], her questions and concerns have been addressed. PennyMac is in the process of finalizing a written response to mail to Mrs. [redacted]. Mrs. [redacted]' has also been provided the direct contact information for a Priority Complaint Specialist, should she have any questions or concerns in the meantime.PennyMac values and protects its customers’ confidential information. Due to privacy reasons, we will refrain from posting any personal information to the Revdex.com site as we do not disclose our borrowers’ personal information.

Consumer

Response:

Review: 10345692

I am rejecting this response because: I havent received notification as of yet. Otherwise I would say once I receive my written response from PennyMac I will update if I accpt/reject.

Regards,

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.[redacted]’ concerns to our attention and allowing us the opportunity to respond. Upon receipt of the Revdex.comnotification, our office completed a thorough review of Mrs. [redacted]’ loan toensure that her concerns are addressed. A representative from our office calledMrs. [redacted]’ to provide resolution as it relates to his request regarding hercredit reporting for October 2014. PennyMac has mailed and faxed a writtenresponse in regards to researching her concerns.PennyMac values and protects its customers’confidential information. Due to privacy reasons, we will refrain from postingany personal information to the Revdex.com site as we do not disclose our borrowers’personal information

I did have a different loan company but they sold my loan to PennyMac. Ever since I've been forced to have them as my loan company. I have had nothing but issues with my loan. My insurance company has almost canceled me on different occasions in the last couple months do to the lack of ability to do their job. PennyMac has only been my loan company for the last few months. The only reason why there haven't been more issues is because I was still paying through my old loan company. They lost $1158.00 of my money on one occasion. Had no clue what happened to it. When I asked if they could call me when they found out what happened. They said "I can put that in the notes but I would call back if you have not received a call in the next couple of days". Can't even give me the common courtesy of a call back after losing my money. When you do call to talk to someone. It takes 5 minutes just to get to the right person. I think its ridiculous that loan companies can sell policies to another loan company. The least Chase could have down is sell my policy to a better loan company. PennyMac is terrible. I wish I could get a different loan company but it's pointless to refinance again. Now I have to spend some more of my personal time to call PennyMac again to deal with another problem. Hope this answered some questions.

Review: I finished paying down my principle to less than 78% in order to drop PMI insurance. However, after providing all the information Pennymac has requested (including an appraisal) the company has declined after several attempts to drop my PMI.Desired Settlement: Its been over a year since my request since I have been consistently paying my mortgage with PMI.

Business

Response:

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. **.

Review: 1) We have a mortgage with PennyMac which coveres 3 separate properties on 1 lot. As a result, we have separate Home Owners and flood insurance on each property; a total of 6 policies. Penny Mac did not escrow for 1 property and did not pay the premiums on either the HO or flood, despite several conversations and email/fax communications with me and my insurance agent prior to and since the renewal date. As a result, I have a property that is currently not insured at all.2) We are sub-dividing the property so each structure sits on it's own lot. We have jumped through all the hoops required by the city and need a letter of consent from Penny Mac. For over a month we have been trying to obtain that letter. Unfortunately, even though Penny Mac verbally tells us they are okay with the it, they will not provide that letter. They want the city or a title company to create that form. New Orleans does not have any such form. Penny Mac would sign a letter created by a title company, but they want it on our title company's letter head. Our title company is happy to draw up the document, but since it has nothing to do with them, they will not put it on their letter head. Penny Mac suggested that they have their tittle company do it, but their title company refused as ours did because they are asking for something that is unreasonable. As a matter of fact, they can't even explain what they do want nor will they provide a sample. Because of delay caused by their incompetence here is a good chance we will have to have a new survey done at a cost of $800 because we will not meet the city's deadline.Desired Settlement: Apology and admission of fault. Pay $800 if new survey is required. Pay for any damage or loss in case an insurance claim is required.

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. L[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. L[redacted] on July 21, 2015, to discuss her concerns. Mrs. L[redacted] was provided with the direct contact number of the agent who will be reviewing his concern. A letter and letter of explanation will be sent to Mrs. L[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: 10719962

I am rejecting this response because: Penny Mac has contacted me by phone once a week ago. The issue regarding my subdivision is unresolved. I left a message for C[redacted] at ###-###-#### to get some follow up information but have not heard back from him. Penny Mac has not produced a letter of consent for my subdivision nor would their own title company. I have had my own title company prepare a letter. I am still waiting for them to sign it. I am doing all the work to resolve the issue myself.Regarding my insurance, it was finally paid, but because they did not escrow the funds properly, my original payment was lower than it should have been. That caused me to make decisions regarding leases with bad information. Now I will have a huge increase in my payment and it is too late to increase rents to cover that amount.

Regards,

M[redacted]

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. L[redacted]’s concerns to our attention and allowing us the opportunity to respond.Upon receipt of the Revdex.com notification, our office is currently in the process of a complete review of Ms. L[redacted]’s loan to ensure that her concerns are addressed. Once the review has been completed by PennyMac , a written response will be mailed to Ms. L[redacted]’s mailing address on file, in regards to researching her concerns.PennyMac values and protects its customers’ confidential information. Due to privacy reasons, we will refrain from posting any personal information to the Revdex.com site as we do not disclose our borrowers’ personal information.

Consumer

Response:

Review: 10719962

I am rejecting this response because:

I have finally, after 7 weeks received a letter, which consists of 1 sentence with the consent I was seeking. However, it was my own title company who did all the work and provided the language in the letter (the same language I gave them a month ago). The amount of time it took to provide this simple letter was outrageous and completely unacceptable. The fact they could not produce it without the help of my title company is pathetic. Additionally, since they received my complaint from the Revdex.com, I received 1 phone call and no follow up as requested nor did they return any my calls. They also underfunded my escrow account, leaving me with a huge bill for my insurance, which completely undermines the point of having an escrow account. Overall, PennyMac has, in my opinion, acted negligently and incompetently. I hope to close my account with them soon and never do business with them again.

Regards,

M[redacted]

Review: My wife and I have had their services for a year now and in that time we contacted our representative multiple times. In these times not once has she answered our calls or returned our calls. We then contacted customer service about the issue in which they did not resolve but they attempted to solve our other issue. We asked why our payments were going up on a fixed rate mortgage, in which we were given 4 different reasons by 3 different people. 1 of which told us our escrow has nothing to do with our taxes which I knew was wrong. They refused to let me speak to a tax representative to inquire about that issue. On top of this since we have had our loan we have attempted to apply for direct payments in which they said we would be billed directly the next month. Every time we check our account 2-5 days following our bill cycle and the money was not taken so we call and ask about it and are told we are behind on our payments now so they can't take our money. (This would not be an issue if they took the money when they are supposed to according to our contract we signed online for direct payments.) The most recent phone call we made was around 7 days ago we spoke with Angel who not only told myself to shut up in the middle of my complaint. She also told us our payment to get up to date on our account would take more than 10 days to process. My wife informed her they never have taken that long and it shouldn't now, that we have more bills than just theirs coming from our account. Angel then refused to accept our payments. She accused us of intentionally draining our accounts which at no point did we say that. We then told her to put her supervisor or boss on the line she told us he was not answering his line so she would leave a message and an email for him to call us back and he/she has not. They have not only breached contract but they have poor customer service.Desired Settlement: My wife and I are unsure as to what to do. We contacted the VA back telling them we wish to find a different loan service or to at least have them fix the issue but have heard nothing back. Our last action was to contact you before we took legal actions and we wish to also find any information as to what would be best. Thank you for your time and help.

Business

Response:

PennyMac Loan Services, LLC, (“PennyMac”) strives to provide superior customer service and process all transactions in a timely and accurate manner. Thank you for forwarding Mr. [redacted]r'sconcerns to our attention and allowing us the opportunity to respond. Upon receipt of the Revdex.com notification, our office a representative from our office called Mr. [redacted]r to provide status as it relates to his concerns regarding his taxes. PennyMac will send 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: 10465057

I am rejecting this response because:We do not accept pennymac recent response they have do none nothing to assist us recently. We have attempted to contact them and they do not answer or call us back and the one time I reached Maria she told me she would call me back and hung up then never called and this was April 3rd @1pm Eastern time. We feel they are only attempting to buy more time by giving you a response that covers no information about what informations going on and they have yet to do anything about our concerns.

Regards,

Business

Response:

PennyMac Loan Services, LLC,(“PennyMac”) strives to provide superior customer service and process all transactions in a timely and accurate manner. Thank you for forwarding Mr.[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 his concerns are addressed. PennyMac is in the process ofgenerating 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 ourborrowers’ personal information.

Review: Went into an agreed forbearance program due to hardship and began paying the agreed upon amount, at the end of the forbearance, account was attempted to be brought current through numerous conversations with at least 20 pennymac representatives, each representative giving a different account of my standing with pennymac. All the while my account was becoming delinquent due to pennymac taking my mortgage payment and applying it to various fees, late charges and at one point toward escrow for property taxes and insurance (which my loan is one in which I pay this independantly). I was unaware that this was happening due to the fact that I was notified after the fact plus given inaccurate information. Finally after aprox 9 months, I was able to speak with one rep who was able to separate the fees from my mortgage and allow me to pay them as I could. I am still not understanding how I could accrue late charges in an agreed forbearance that was being paid as agreed upon. Due to this, my credit, which I have maintained all my life over 750 dropped to 500s and is affecting my ability to get loans etc. Recently pennymac sent a bill for my mortgage again with a charge for "other" fees. I have tried to call pennymac to try to rectify this as well as the unjust charges and have spoken to many reps again only to be told I would be called back and unable to reach a supervisor or the rep I was speaking to previously. I am amazed that I cant reach a person at pennymac to handle my questions yet when I was in forbearance, they called me everyday to the point that it was interfering with my job even though I was paying what we agreed upon. The service at pennymac is horrible and they do not do what they say. There is a lack of communication between staff making it impossible to get issues handled. They also charge people with out notifying them of the purpose of charges.Desired Settlement: DesiredSettlementID: Other (requires explanation)

I would like my account looked at and explained to me. I would like to deal with ONE supervisor in a timely manner and I would like my credit to be restored to what it should be

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 17, 2015, to discuss her concerns. Records confirm PennyMac responded to similar concerns on June 20, 2014, and July 1, 2014. A letter of explanation will be sent to Ms. [redacted] under separate cover to address any outstanding questions.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: 10521268

I am rejecting this response because: A representative from Penny Mac phoned me on March 16. I was told that she would look into my file and would phone me back on March 17. Today is March 20 and I have yet to hear from Penny Mac. This is in keeping with the experience that I have had with Penny Mac of the last two years which is a lack of communication amongst the members of the staff as well as with me, the consumer. Over the last two years I have literally spoken to over 15 Penny Mac representatives each one having to re-hear my case. There have been phone calls not returned promises made and many promises broken. I have had I home mortgage for the last 11 years and I've never had the problems with any mortgage holder that I have had with Penny Mac. When it comes to trying to charge extra fees late fees and request payment Penny Mac called me every day. But when it comes to resolving issues on my end it is very difficult to get a response from Penny Mac and follow through. I would never recommend him and I feel for people who have to deal with them.

Regards,

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. An additional attempt to contact Ms. [redacted] was made on March 25, 2015 in an effort to discuss her concerns. Ms. [redacted] has been provided with the direct contact information for the representative assigned to her account. PennyMac is currently in the process of researching the fees due and 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.

Review: In July of this year (2014) PennyMac took over my mortgage from Franklin American Mort. Co., I did not want this.

I’m sending statement to show they are not applying the full amount of principle to come off the balance of my loan. For some time I have been paying or make a mortgage payment over $1,800.00 a month. Statement show monthly payment due. Also payment has went up since the transfer, claiming a shortage in escrow account. They have $2,207.00 for insurance, my insurance with State Farm is $830.00 annual premium.

One last complaint, my balance of the loan of $190,486.18 is 80% below what it is worth, meaning the $183.95 for their mort. Insurance should also be going towards the principle balance it’s not needed any longer.

I spoke with their customer service over these matter and got nowhere. The principle balance’s from each statement are not adding up at all.Desired Settlement: Apply the full amount of principle to come off the balance of my loan. The $183.95 for their mort. Insurance should also be going towards the principle balance it’s not needed any longer.

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 review of Mr. [redacted] loan to ensure that his concerns were addressed. A representative from our office attempted to contact Mr. [redacted] on November 7, 2014, to discuss his concerns. Unfortunately, the phone number on record is no longer in service. Additionally the number supplied on the complaint is not a valid number. 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. We will be sending Mr. [redacted] a detailed letter addressing his concerns.

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] 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 the borrower to address his concerns. A review of the loan was completed as it relates to the customers concerns. Our office answered Mr. [redacted] questions and confirmed that his concerns were addressed. We will be sending the customer a written response under separate cover. 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.

PennyMac Loan Services is terrible to work with. I have never had more difficulty with a business as I have with them. The website skips and we are not able to get into our online account. It states that the account already exists, which I know. I've changed my password and user name to be told the account already exists. I've called to have this fixed and my wait time was over 40 minutes. Once on the phone, they said my account didn't exist. The same thing happened last year with my escrow. We paid all our payments on time and bi-weekly including escrow. Received a letter from our homeowners insurance that the premium had never been paid. Called PennyMac to be told we didn't have an account with them. They had not trouble depositing all of our biweekly mortgage payment throughout the year. After months of phone calls, and us finally paying out of pocket for the premium, they finally sent in the premium. I HATE that our loan was sold to this company and that there is nothing I can do about it! Ughhhhhhhh

After my home loan was also transferred to PennyMac from Bank of America (they provided the best customer service) every single customer service encounter with PennyMac has been a headache. The individuals who are representing their company seem highly unknowledgeable, unprofessional, and down right rude in some instances. I would be livid if I knew that some one was mis-representing and discrediting my company because of their lack of customer service skills. I will be honest and say I was not shocked when I came here to see that all the reviews are negative.

One of the worst customer services and incompetent staff ever! I opened my loan with Amerisave who sold it to Pennymac one month after. Should have known not to do this. Pennymac missed my insurance payment. I had to call them to let them know they forgot the payment and asked why they missed it. They couldn't provide a reason. A few weeks later, I called my insurance to check if they received the payment and the answer was no. I called pennymac's absolutely horrible insurance department. After getting disconnected and hung up several times, finally talked to a rep who called my insurance company on the spot to find out why they didn't receive the payment yet because apparently, they sent it already. In the process, insurance company assessed a late payment fee and pennymac wants me to pay that fee. I don't know how they can even say this with a straight face. I had to fight real hard for them to pay the fee for their own mistake. They said they have to send it to a different department to get the fee waived and wanted me to call back today. I told them after all the mistakes they made, they owe it to me to give me a call when the fee is waived. They agreed and we hung up. Who am I kidding.. I knew they weren't going to keep their word. And sure enough, no call today.

I really really don't understand how these guys stay in business. These guys make Cox customer service look like premiere customer service.

Worst customer service ever!! I have been dealing with them for over a month about an ongoing issue and they still have not resolved it. They told me a supervisor would call me back multiple times and no one ever did. I would NEVER recommend this company to anyone and will never use them again in the future.

Review: On 02/04/14 PennyMac Loan Services took $1,711.38 from my account, I only authorized them to debit $855.69 per month for my mortgage payment, till this date . I have not been able to get them to refund this payment. I have comply with every request they have asked of me. Still they will not response to my faxes or phone calls regarding this matter.Desired Settlement: $929.42 this includes the overdraft fees.

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.

Please be advised that PennyMac received and responded to Mr. [redacted]’s concerns regarding a refund request on February 19, 2014.

Upon receiving his request, we researched the loan and confirmed that Mr. [redacted]’s set up PennyMac’s Autopay program online.

During the set up process, Mr. [redacted]’s inadvertently requested to have additional funds drafted in addition to his regular monthly

payment, to pay towards his unpaid principal balance. Pursuant to Mr. [redacted]’s request, PennyMac canceled the Autopay program

on February 5, 2014, and mailed a refund to Mr. [redacted]’s on February 19, 2014.

PennyMac values and protects its customers’ confidential information. Due to privacy reasons, we will refrain from

posting any substantive responses to the Revdex.com site as we do not disclose our borrowers’ personal information.