PennyMac Loan Services

Review: PennyMac inaccurately entered my acct number when enrolling for Autopay. It took 4 phone calls and speaking with a supervisor to get it set up accurately. During this time, they charged me $15 for making a mortgage pmt. over the phone without my consent; after I explained to them they entered the acct. info wrong. Then, instead of withdrawing the mortgage pmt. they withdrew only the $15 from my acct. Additionally, they pd. my taxes wrong leaving me with $1753 owing. When I brought this to their attention to pay the accurate amount, I had to explain to the agent why there was an overage in the escrow acct. and told them it was because they pd. the wrong amount in taxes and they needed to send another check for the balance owing before it was due. I was assured someone from the escrow and tax departments would call me back to confirm that accurate info. was entered and correct tax pd. Instead of a phone call, they sent me a refund for the overage in my escrow acct. Following this they reduced my monthly pmt. to account for the "overage" in my escrow acct. I've spoken to no less than 8 agents and 2 supervisors to get this entered accurately and they still can't get it right. When I asked to speak to a supervisor, the agent argued with me that she could get it resolved, I assured her that she could not. My taxes are due in 4 days, and I have no faith they can get it done. I wish I could fire my mortgage company. To their credit I have not had a problem with the supervisors Ida, and E[redacted] (we'll see, E[redacted] should be calling me back tomorrow).Desired Settlement: I want a different mortgage company. I have no confidence in this company, or their employees. They have made too many mistakes. I don't have time to babysit my account, and then hold on the phone for 20 minutes and to explain to one agent after another how to do their jobs. If I don't hover, I'm concerned they will ruin my credit, and not pay my taxes, or my insurance.

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. K[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. K[redacted]’s loan to ensure that her

concerns are addressed. On October 29th and October 30, 2015 a PennyMac representative called Ms. K[redacted] on the telephone

numbers on file 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: the company didnt pay my hazardous ins which caused forced insurance I have been fighting for my $4000 refund since july 2015 nobody in customer service/ins dep has an answer. I sit on the phone with the company daily for hours listening to a bunch of reps telling different answersDesired Settlement: for the company to stop overcharging and placing unexplained fees to my account

Business

Response:

Thank you for bringing this matter to our attention and allowing PennyMac Loan Services,LLC (“PennyMac”) the opportunity to review and respond to Mrs. F[redacted] concerns.PennyMac strives to provide superior customer service and respond to all inquiries in a timely manner. Upon receipt of the Revdex.com notification, a PennyMac Representative contacted Mrs. F[redacted] to discuss her concerns regarding her hazard insurance payments. A detailed letter of explanation will be sent to Mrs. F[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: 10880603

I am rejecting this response because: the company still could not figure out how to resolve the issue

Regards,

H[redacted]

Business

Response:

Please be advised a detailed

letter of explanation will be sent under separate cover within 30 business days

from the date the complaint was received. 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: To whom this may concern On 28 AUG 2015 I was informed by your CSR that I am not required to make any more payments towards my house loan. I responded to the CSR I was able to afford the payments, and that I was willing to continue to do such. I was then informed by the CSR PennyMac was starting procedures to Foreclosure on my home because I was more than three months late, however I am still WONDERING WHY I HAVE NOT RECEIVED ANY ANSWERS OR HELP FROM PENNYMAC SINCE THIS COMPLAINT THAT WAS SENT TO YOUR COMPANY (BELOW) dated 6/16/2015 in reference to my home loan was never INVESTIGATED. In my letter I pointed out PennyMac failure to honor an agreement that was done on a PennyMac on a recorded telephone line 15 APR 2015 by your representative N[redacted]. Also in the letter I requested a forbearance or anything to help me save my home from this foreclosure. The fact is I do NOT have 12,000 dollars to get caught up, that was the reason I applied for the modification in the first place and was denied because of income, then I was informed to do it again since my salary went up 50% and that I only needed 10% more income to qualify, So I attempted it once again, and discovered PennyMac denied my modification once again. I was MISINFORMED by your representative. This is VERY FRUSTRATING and I suspect a hostile and or predatory loaning service from PennyMac. I want PennyMac to honor the agreement that was on the phone. My income went up 50% and I was still denied a modification. I made a complaint by email on this issue 28 April 2015 to M[redacted] and once again it fell on deaf ears. Your CSR agents are not very helpful and constantly misinform and are dancing around my loan. I am starting to wonder if this is a hostile/ Predatory lending loan service. I have been misinformed about my house loan ever since coming to your loan services. We are doing are very best in getting help to get our loan current. Now is PennyMac going to help or keep playing games with our lives.Desired Settlement: To honor the agreement PennyMac provided to me on a recorded telephone line 15 APR 2015 by representative N[redacted].

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. H[redacted]'s concerns.PennyMac strives to provide superior customer service and respond to all inquiries in a trimely manner. Upon receipt of the Revdex.com notification, a PennyMac Representative contacted Mr. H[redacted] to discuss his concerns regarding his request for Loss Mitigation assistance on November 19, 2015. A detalied 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 borrower's personal information.

Review: I received $15,988.86 from my home owners insurance to build a new garage because my old garage was destroyed by a storm on July 12, 2015. The check I received from my insurance company was made out to myself and PennyMac. Their policy is to disburse the amount in increments of 30%. When their desired amount of work is done PennyMac sends an inspector to my house. Once they get his report they are supposed to disburse another check. Today my garage is over 90% complete and I have only received $5,329.62 to pay my contractor. I haven't even paid him for the materials is took to build the garage. The last time an inspector was at my house was November 23, 2015. He assured me his report would be submitted that evening. I called PennyMac on December 3, 2015 and was told they had just received the report on December 2d. Their practice is to review the inspector's report and then have a check disbursed - which takes 3-6 business days and then sent UPS express. I am in a quandary because my contractor wants more money now and I don't have it. He has subcontractors to pay. I feel a matter as important as this should be handled in a more efficient manner.Desired Settlement: I would like the remainder of the $15,988.86 to pay my contractor.

Business

Response:

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. S[redacted] to

discuss her concerns regarding the Loss Draft Insurance check on December 8, 2015. A

detailed letter of explanation will be sent to Ms. S[redacted] under

separate cover within 30 business days.

Review: I am currently in the process of transferring my loan over to Loan Depot from Penny Mac. It has been almost a month and Loan Depot is stating that Penny Mac hasn't responded. Below is the email I have received from Loan Depot regarding the status. Every time I call Penny Mac they act like they are clueless as of what is going on and ask me for numbers on my case.Good Morning Ms. S[redacted], FHA requires us to contact the original lender first and foremost as it is easier and quicker for them to release the FHA Case Number that is needed in order to move forward due to this being an FHA loan. Several contact attempts had been made as stated earlier and per the FHA requirements. I submitted the original request to FHA on 11/17, received a response stating the request has been submitted to the Homeownership Center on 11/20 and it stated to give them 3 business days to process the request. When I called yesterday, they stated the request wasnt submitted until 11/21 and due to the holidays, a response was not expected until 11/30 or today. I will be calling today to expedite this further. See the screenshot below as it shows the current status and us not making this up either. (Also, see the attached email showing auto-response from the FHA Resource Center). I just wish to be fully transparent with you as this is a one off situation due to PennyMac and other parties not following through per both of our requests. Due to PennyMac not returning any contact, we had to go about this the long way. We normally try our best to handle everything as our clients are very busy, but if there is anything you could do to help, we would be highly appreciative as right now, this matter is somewhat out of hands. I will be calling the FHA Resource Center as we cannot contact the Homeowner Center directly. If we have multiple fronts attacking PennyMac, then we should have good results. Thank you greatly!Desired Settlement: For my loan to be transferred by the end of the week

Business

Response:

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. S[redacted] to discuss her concerns regarding her account. A detailed letter of explanation will be sent to Ms. S[redacted] under a seperate cover within 30 business days

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: 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: 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: 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: 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

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: 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]

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.

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.

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.

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

Review: I received damage from a storm in May. Insurance issued funds for repairs. Insurance checks are made out to myslef and Penny Mac due to Penny Mac holding the note on my house. Begining of the process I was forced to sign and notorize papers for Penny Mac before I was able to receive funds. I have followed Penny Mac's process for performing the repairs. I have forced to take loans to make repairs and am haing a difficult time receiving the money for the repairs. Penny Mac has sent inspetors to the house and have signed off 100% of the wok completed. Currently I am paying interest on material purchased for the repairs which Penny Mac will not re-emberse. I am having a difficult time getting Penny Mac to relaease the funds. The process states within 4 days of notification of all repairs performed than Penny Mac will release all funds. It has been 10 business days and funds will not be released until next week. Does not follow own criteria for claims on a mortage. Difficult to work with. At one point I was threatened by a phone represenative and told I would not receive funds or any additional cost Penny Mac has forced me to make.Desired Settlement: Refund all additional costs caused from Penny Mac. Inlcuding loan costs, interst and additional fees that were required for documentation I was forced to pay. I would alos like an investigation into Penny Mac for distributing funds and how cases are handled.

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 requests in a timely and professional manner. Upon receipt of the Revdex.com notification, a PennyMac Representative contacted Mr. [redacted] on November 20, 2013, to discuss his concerns. Mr. [redacted] was assured that his concerns would be thoroughly addressed and a substantive response would be provided that addresses all of the concerns outlined in his complaint. To ensure that Mr. [redacted]’s case receives the utmost attention, a single point of contact was assigned to Mr. [redacted]’s case. to ensure we provide him with a substantive response to address all of his concerns.

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.

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.

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.

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.