PennyMac Loan Services

Review: My mortgage was transferred from Bank of America to PennyMac USA in July 2015. Upon receipt of my first statement from PennyMac, I attempted to set up an online account to access my information and make payments. I was able to set up the account, but was not able to log in due to a message that simply stated "Error." I promptly contacted customer service, who informed me that there was an issue with the Web site that was being addressed. As suggested, I waited approximately one week before attempting to log in again. At this point, I encountered the same error message, so I contacted customer service again to address the issue. I spoke to numerous representatives and was assured that the issue would be fixed and that I would be contacted with resolution. After approximately 3-4 weeks passed (and I had not heard from anyone), I contacted customer service again because I was still unable to log in to view my account information and submit secure online payments. I was informed that the issue would be forwarded to the IT department, and I requested that this process be expedited. Last night, (10 days after my most recent phone encounter), I received a call requesting that I send a screen shot of the error message because the IT department was unable to retrieve it. At this point, I admittedly became frustrated because I had requested that the issue be escalated and it took so long to hear back from someone who still had no resolution on my issue. Last night and this morning, I followed the login steps to get to the error message, and I am completely blocked out of my account. The system is supposed to generate an e-mail containing a security code to log in, and I am not receiving these e-mails as I had prior. I have spent many hours combined on the telephone with technical support, and am not in a position to continue to go in circles with representatives that have no answers to offer.Desired Settlement: Simply put, I would like to access my account online so that I can manage my account information and make my monthly payments. I do not feel comfortable continuing to make payments when I have absolutely no idea how (or if) they are being applied to my balance and I don't even know what my account balance is!

Business

Response:

Thankyou for bringing this matter to our attention and allowing PennyMac LoanServices, LLC (“PennyMac”) the opportunity to review and respond to Mr. C[redacted]’sconcerns.PennyMacstrives to provide superior customer service and respond to all inquiriesin a timely manner. Upon receipt of the Revdex.com notification, a PennyMacRepresentative attempted to contact Mr. C[redacted] on September 22, 2015, to discuss his concerns. Regrettably, we were unable to reach Mr. C[redacted] and a message was left for him with the contact information for the representative assigned to his loan. We will continue to make attempts to reach Mr. C[redacted] so that we may provide technical support and web assistance. A letter of explanation will also be sent to Mr. C[redacted] under separate cover. PennyMacvalues and protects its customers’ confidential information. Due to privacy reasons, we will refrain fromposting any personal information to the Revdex.com site as we do not disclose ourborrowers’ personal information.

Review: On November 21, 2014, I inquired of PennyMac the procedures required for me to cancel my Private Mortgage Insurance (PMI). On December 30, 2014, I received confirmation that PMI could be cancelled when my loan-to-value is below 80%. At this time I was also advised that PennyMac would need to verify that the value of my property had not declined below its original value. I was given the option of a Brokers Price Opinion (BPO) or an Appraisal to meet this requirement. On December 31, 2014, I gave consent for PennyMac to submit a request to the PennyMac PMI Department to perform a BPO. Despite being advised that I would be notified of the final determination for request within 17 business days, I did not receive a determination until February 25, 2015, when I was informed that my request was declined due to the value depreciation of your property. I was confused how the current BPO could support a depreciation of property, as the value was exactly the same amount as the 2012 appraisal! I did, however, question the accuracy of the BPO as I have put significant improvements into landscaping and fencing that were not in place during the 2012 appraisal. Not to mention the common awareness, by even the least informed among us, that property values have increased since 2012. On February 26, 2015, I was instructed by Customer Service to fax a letter to dispute my recent BPO. I received a letter from PennyMac stating that the BPO had determined my home value had declined less than originally stated, but still enough to prevent removal of PMI. This determination was very suspicious, since it contradicted the original valuation and was conveniently still just below the 80% LTV ratio required to remove my PMI.As part of my dispute I identified five significant errors (totaling at least $20,000 to $30,000) that the BPO made in the valuation of my home. These errors included incorrect square footage, incorrect age of the home, and listing a 100% finished basement as unfinished. I also provided a list of homes that had recently sold that PennyMac could use as potential comparable. All of this work made no difference and on July 8, 2015, I received notice that the amount is still not high enough to delete PMI, and the suggestion that a full appraisal could be done at an additional fee. I feel that I have compelling evidence to refute the accuracy of PennyMacs BPO, (despite my attempts to share this evidence with PennyMac the BPO valuation increase by a mere $3,000). I requested that PennyMac provide documentation to support the final BPO valuation, but as of today I have received nothing. I feel this BPO option is simply a scam to take fees and then provide a home valuation that is intentionally just below the value needed to remove PMI.Desired Settlement: Provide an honest and accurate valuation of my home.

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. 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 Mr. E[redacted]’s loan to ensure that his concerns are addressed. PennyMac will send a written response in regards to researching his 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.

Review: Pennymac collects money each month, which is placed in an escrow account. A portion of this money is for our homeowners insurance. This money has already been collected by Pennymac, yet they have failed to pay our insurance. They tell me the payments are just late. No mortgage company would tolerate late payments, so why have they failed to pay our insurance bill? USAA holds the policy and they have told me they contacted Pennymac twice. I called Pennymac and was told they are behind in payments.Desired Settlement: To pay our insurance bill in full with our money they have placed in escrow.

Business

Response:

Thank you for bringing this matter to our attention andallowing PennyMac Loan Services, LLC (“PennyMac”) the opportunity toreview and respond to Mr. [redacted]’s concerns.PennyMac strives to provide superior customer service and respond to allinquiries in a timely manner. Upon receipt of Mr. [redacted]'s concerns regarding the payment of his insurance policy premium, I completed a review of his loan and confirmed the premium was paid to USAA from Mr. [redacted]'s escrow account on August 12, 2015. A detailed letter will be sent toMr. [redacted] under separate cover.PennyMac values and protects its customers’ confidentialinformation. Due to privacy reasons, we will refrain from postingany personal information to the Revdex.com site as we do not discloseour borrowers’ personal information.

Review: I 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: Penny Mac has continued to charge me "other fees" for things, when called on, have been already paid and taken care of. Customer service has told me 2 different things multiple times when it comes to my loan. I have reduced my homeowners insurance, by upgrading my roof, and my taxes have gone down but they have not done what has been stated on the phone concerning a mortgage review to change the discrepancies. I have called twice in May and have received two different quotes on my mortgage with the same numbers from two different customer service employees. I just received my bill for June and noticed that everything that was stated by this company has not been true and they RAISED my amount due after my escrow has been shown to have gone down as well as charging me AGAIN for other fees that have been resolved twice.Desired Settlement: I have called this company multiple times to resolve this overcharging issue. Please help clear this up or speed up the process for a mortgage review so other customers don't have to go through this.

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. M[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 Mr. M[redacted] on June 1, 2015, to discuss his concerns. Mr. M[redacted] was provided with a direct representative who will address 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.

Review: On the evening of 10/28/14 I received a letter from Penny Mac indicating that they have not received my Mortgage payment for October 2014. I also received another letter indicating a late charge of $22.93. My check reflecting the Mortgage payment was prepared on 10/8/14 and then mailed out to allow enough time to reach the 10/15/14 grace period due date. I was told by the bank that the check was cashed on 10/27/14. This could have possible been a post office error. I contacted Penny Mac twice and explained that the check was mailed in plenty of time. They suggested other options to pay the Mortgage in the future however, would not cancel the late fee even though I have never been late with a payment before. I cannot understand since I have never been late with a payment why I should be held responsible for the late fee this one time. I faithfully prepare my bills no later then the 9th of each month and have not had an issue that I can remember. I was disappointed when my previous Mortgage company had termed. It was such a convenience because I was able to pay my bill at there location near my home. I live paycheck to paycheck and found that making this payment by the 9th of each month comfortable for me financially. To alleviate further penalties I mailed out another check for the Nov payment and late fee. I just borrowed the Funds until I can reimburse the account back on the 9th of Nov. I know this is not possible however, if there was a way to switch Mortgage companies without refinancing I would do so. I would suggest to other consumers be careful with mailing your payment regular mail. There is no proof in the chance that the mail gets lost. For myself I will just call it a lesson learned.Desired Settlement: I have learned from this issue however, it would be nice to get a refund on the late charge. I have never been late and I always mail this check approximately a week before the 15th. I didn't even realize the check was not received until I received the letters which both letters were received in the same batch of mail. I had no time to react.

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]’sconcerns to our attention and allowing us the opportunity to respond. Upon receipt of the Revdex.com notification, our office completed a thorough review of Mr. [redacted]’s loan to ensure that his concerns are addressed. A representative from our office calledMr. [redacted] to advise the late fee has been waived. PennyMac is in the process of finalizing a written response in regards to researching his concerns.PennyMac values and protects its customers’ confidential information. Due to privacy reasons, we will refrain from posting any personal information to the Revdex.com site as we do not disclose ourborrowers’ personal information.

Consumer

Response:

Thank you,

The business advised since I have already sent the late payment they will cancel the late fee and apply it to the principal of the loan.

[A default letter is provided here which indicates your acceptance of the business's response. If you wish, you may update it before sending it.]

I have reviewed the response made by the business in reference to complaint ID 10287428, and find that this resolution is satisfactory to me.

Regards,

Review: PennyMac is holding over $43,000 of our money from an insurance claim. After dozens of calls, and several conference calls with our insurance company (State Farm) and submissions of dozens of pages of documentation of our repairs, there is nothing that will satisfy them to send an inspector to see our completed work and release the funds that they are holding in escrow.Their phone agents will not provide full names, titles, or direct phone numbers, so there is no accountability or way to get anyone who can resolve our problem.Desired Settlement: 1) A single contact, with full name, and authority to release the funds.1A) Release of escrow funds2) Interest on money they are holding (we are paying them interest on the money loaned for our mortgage, they should pay interest for funds they are holding against our will).3) Reimbursement for lost billable time at work.

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. Our office contacted Mr. [redacted] on February 9, 2015, to confirm receipt of the notification received from Revdex.com. Please be advised a PennyMac Priority Complaint Specialist is in the process of obtaining additional information and conducting a review, in order to sufficiently address Mr. [redacted]'s concerns. PennyMac has also ordered an inspection for the referenced property. At this time, no further documentation is required from Mr. [redacted], and PennyMac is pending the inspection report in order to determine the draw amount that will be released.We appreciate Mr. [redacted]'s patience while PennyMac continues our review. Mr. [redacted] has been provided the direct contact information for a Priority Complaint Specialist, should he 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.

Review: Penny Mac will not let me make a payment on line or by using the automated phone system, the reason being they say I am in active bankruptcy. The bankruptcy is over and done with!!Even so they want to charge me $15.00 extra to make a payment by using a live agent when they will not allow me to do otherwise. What kind of a scam are they running? They bought my loan from Bank of America, that was unfortunate for me since I never had problems making a house payment!Desired Settlement: Allow payment to be made without the $15.00 fee!

Business

Response:

Thank you for bringing this matter to our attention and allowing PennyMac Loan Services, LLC (“PennyMac”) the opportunity to review and respond to Mr. G[redacted]’s concerns.

PennyMac strives to provide superior customer service and respond to all inquiries in a timely and efficient manner. Upon receipt of the Revdex.com notification, PennyMac completed a thorough review of the loan to address Mr. G[redacted]’s concerns. PennyMac prepared a substantive response that addresses Mr. G[redacted]’s concerns regarding his account. Please be aware that due to the status of the loan, PennyMac must refrain from discussing Mr. G[redacted]’s loan in detail.

Please be aware that upon filing for bankruptcy protection, the United States Bankruptcy Court imposes an automatic stay that requires PennyMac to stop any collection activity, report the petition for bankruptcy protection, and stop all further credit reporting until the case is finalized. PennyMac blocks access to online services while an account is in an active bankruptcy case or if a bankruptcy case is discharged. Access to online services is blocked to ensure that PennyMac does not infringe on the automatic stay imposed by the United States Bankruptcy Court.

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

Consumer

Response:

Review: 9852446

I am rejecting this response because: I have been forced to make payments by telephone, which I had to do with BOA. However BOA did not charge a $15.00 service fee since they realized I had no other options. Penny Mac has yet to send me a valid monthly statement. They say they have but I have never received one. The only one I have received was for an amount that was about $80.00 less that what the payment should be. The only way I found out how much to pay was over the phone. It does make it difficult to mail a payment without a statement. Penny Mac should refund the $15.00 service fee they charged me. I have never liked BOA but now I would welcome them back.

Regards,

Business

Response:

PennyMac strives to provide superior customer service in a timely and efficient manner. As a mortgage service provider, PennyMac provides our borrower with numerous options to submit their monthly mortgage payments. Borrowers receive a monthly billing statement with a coupon which is issued on or about the 18th of each month. Payments can also be sent to our Payment Processing Center by mailing a check to PennyMac Loan Services P.O. Box 30597, Los Angeles, CA 90030. A coupon is not required to submit a payment as long as the borrower writes the loan number on the check. Payments submitted with a Customer Service Representative will be assessed a Processing Fee as permitted by State Law.

Borrowers also have the option of using their personal bank’s bill pay services to submit their monthly mortgage payments. Payments submitted through a bill pay service provider are normally done so in the form of a check that is mailed to PennyMac’s Payment Processing Center. At this time, PennyMac is accepting electronic payments from a select group of Bill Pay Providers.

I have had nothing but problems since pennymac took over my loan. First off I have never been late on a payment and all of a sudden I get a letter from them saying my house is going up for short sale. I called and they said it was an error that these letters accidently got sent out. Then I paid off my escrow Balance that was owed and they didn't update my payment amount after that so while trying to figure out why which took over a week they added a late fee to my account. I had to sit on the phone for 2 hours to figure it out. I really hope they sell my mortgage to another bank soon.

Pennymac acquired my mortgage account in mid 2015 and by surprise they did not pay my taxes until January 2016. I did not get credit for the taxes paid in 2015 due to the late submission. I will have to wait until I file 2016 taxes to get credit for the taxes paid in 2015 to Pennymac. As a result, my refund has been reduced and money that I paid in 2015 will not be credited towards current year.

Review: PennyMac bought my mortgage from Bank of America in 2013. I have had nothing but problems since they took it over.1) The first month with them they sent 2 different mortgage payment slips. I paid the first but the second was higher. I called and was told my escrow was raised & they raised my bill & I would need to pay the different (which was late by the time I got the second payment).2) Several months ago I get a letter that my payment was not received. I checked my bank & the payment was cashed. I got the cancelled check from my online bill pay. I call PennyMac & the lady didn't believe I had paid it. I had to fax my proof to their company & had to wait days to find out what happened. They said they put my payment toward the interest of the mortgage only which made my payment late. I was assured this would not hurt my credit rating.3) Last month out of the blue I get a letter telling me I have 30 days to get flood insurance. I call & explain I didn't need flood insurance with BOA & FEMA hadn't chanced the flood lines since my house was bought & inspected in 12/2009. I was told I needed it now & if I didn't get it within the 30 days they would buy it for me & raise my payments. I buy insurance with StateFarm & he sends all the documents to them. Last week I get a letter that they purchased insurance for me anyway. I call & before I can ask my question the lady hangs up on me. I call again & get a very rude lady. I ask why they purchased insurance if I proved I had it with StateFarm. She just kept repeating that I had insurance now but would not address why they purchased another one. She said I would be getting a letter in the mail to confirm. TODAY (Saturday, November 15) I get a letter dated November 7, telling me that I need to send them $496.93 for flood insurance for 12/3/13-11/16/14 within 15 days or they will raise my bill to cover it. How can I be charged back flood insurance when I was never told I needed it until last month? This is a complete PennyMac scam!Desired Settlement: I would like PennyMac to not charge me the $496.93 for flood insurance for 12/3/13-11/16/14. I was never told I needed flood insurance when they bought my mortgage or I would have purchased it a year ago. Why would I need to pay for flood insurance for this time period if there was never a flood insurance policy on my property for this time period. The fact they PennyMac bought my mortgage and didn't notice that I didn't have insurance (and they require it) should be on them...not me.

Business

Response:

PennyMac Loan Services, LLC, (“PennyMac”) strives to provide superior customer service and process all transactions in a timely and accurate manner. Thank you for forwarding Ms. [redacted]’s concerns to our attention and allowing us the opportunity to respond. Our office contacted Ms. [redacted] on November 17, 2014, to confirm receipt of the notification received from Revdex.com. Please be advised a PennyMac Priority Complaint Specialist is in the process of obtaining additional information and conducting a review, in order to sufficiently address Ms. [redacted]’s concerns. We appreciate Ms. [redacted]’s patience while PennyMac continues our review. Ms. [redacted] has 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.

Review: I'm retired military and bought the house 2013 we original had a different mortgage company but it was transferred to pennymac and when it did so our payment went up from $1191.00 up to $1496.49. I've spoken with the company in which they can't explain to me why the amounts have gone up so high or tell me it is because of escrow, however I know from my neighbors whom have different mortgage companies they haven't been affected at all and have the same monthly payments. The neighbors with pennymac have been affected in which the payments have gone up anywhere from $300 a month to $500. I know that our taxes have not gone up and the homeowners insurance hasn't changed and I need to understand what the dramatic cost increase is for. I have a family to support and I'm having money issues at the moment as I'm a retired disabled vet waiting for social security and still don't understand the increase. Please look into this for me.Desired Settlement: I would like the payments lowed so I can afford them, I want them to explain to me why the sudden increase. I want this issue solved because when I purchased the house it was under a fixed rate and I was not supposed to have any increases this is terribly hard on myself and family.

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]’ 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 attempted to contact Mr. H[redacted] to discuss his concerns regarding the increase in his payment amount. A detailed letter of explanation will be sent to Mr. H[redacted] under separate cover. PennyMac values and protects its customers’ confidential information. Due to privacy reasons, we will refrain from posting any personal information to the Revdex.com site as we do not disclose ourborrowers’ personal information.

Review: My home loan was transferred recently from BOA to pennymac. I have been paying my mortgage regularly and in fact pay extra payments every month to be applied to my principal.However I got a letter from pennymac stating that I have not payed the mortgage for the month of September and they sent sent a additional letter stating that I am having trouble paying. They have levied a late charge fee on my mortgage.I am yet to receive a corrected statement response from them. They have not apologized.Please help.Desired Settlement: Would appreciate a response from them immediately and a letter of explanation of why this error was made and who was responsible.I would also like a corrected statement immediately.

Business

Response:

Thank you for bringing this matter to our attention and allowing PennyMac Loan Services,LLC (“PennyMac”) the opportunity to review and respond to Mr. S[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 attempted to contact Mr. S[redacted] to discuss his concerns regarding the application of his payments. A detailed letter of explanation will be sent to Mr. S[redacted] under separate cover. PennyMac values and protects its customers’ confidential information. Due to privacy reasons, we will refrain from posting any personal information to the Revdex.com site as we do not disclose ourborrowers’ personal information.

Review: PennyMac has corrupted my account, going all the way back to July 2013. Thats when I filed bankruptcy to save my home. I caught up with my loan and have been on time ever since. They claim I'm behind. I do have all the endorsed check copies. A refund from my escrow account was overpaid, but instead of sending it to me they deposited the 1400 back in escrow. They said my escrow was behind. How can that be. I've been trying to have them fix my account since August with no help. I call every month after my check has posted to see if they received. This last time they said I was behind and posted my January account to the December payment. They also added on fees for whick I am not liable for. Their accounting practice is shady. Several times they say they can't speak to me and hang up. PennyMac is a loan shark and predator. They will not let me modify my loan even though I am now disabled on a fix income. Please help. Thank you[redacted]Desired Settlement: My account [redacted]8 corrected asap. A loan modification and a public apology. Any and all refunds sent to me.Thank you [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 Ms. [redacted]’s concerns.

PennyMac strives to provide superior customer service and process all transactions in a timely and accurate manner. Please allow me to begin by apologizing for the frustration and inconvenience that Ms. [redacted] has experienced as a result of this situation.

Upon receipt of the Revdex.com notification, our office completed a thorough review of the loan’s activity to ensure Ms. [redacted]’s payments were properly applied. Our office has adjusted Ms. [redacted]’s loan to reflect the account as current. A letter confirming the adjustments will be sent to Ms. [redacted] under separate cover. Please allow 7 to 10 days for our response to arrive.

An Escrow Disclosure Statement will also be prepared and mailed to Ms. [redacted] to provide her with a breakdown of the escrow account and confirm any changes to her monthly escrow payment. A review of the escrow account does not reflect that a refund a due on the loan.

Once again thank you for allowing us the opportunity to be of service.

Consumer

Response:

Review: 9907005

I am rejecting this response because: PennyMac has not sent me a signed certification confirming they have corrected my account due to error on their part.

They still refuse to modify my loan even though I am having a permanent medical hardship. PennyMac will only offer a quick sale and that is not an option for me.

Regards,

Review: PennyMac will not accept electronic payments from my bank (Chase). They will only accept electronic payments from 3 banks. My mortgage was purchased by PennyMac so I didn't choose to have them as my mortgagee.Desired Settlement: I want PennyMac to accept electronic payments from my bank (Chase) or sell my mortgage to a company that will

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. H[redacted]’s concerns to our attention and allowing us the opportunity to respond.Upon receipt of the Revdex.com notification, our office is in the process of completing a thorough review of Mr. H[redacted]’s loan to ensure that his concerns are addressed. PennyMac will send a written response in regards to the research regarding his 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.

Review: PennyMac has mishandled my mortgage account since they bought it from another mortgage company in July 2013. I have had problems with the initial payment and flood insurance. The final straw for me is their handling of my escrow account.Property Tax I faxed PennyMac my property tax bills, regular and supplemental, three times before they were actually processed. I requested that these bills be paid out of my escrow account. On Oct 17, PennyMac sent me a letter informing me that a check was mailed to me from my escrow account. According to the letter, property taxes would not be paid from my escrow account, I would have to pay the taxes with the check they were sending. On Oct 25, a representative from Penny Mac called me to inform me that the taxes had been paid to the county from the escrow account. When I told him about the letter, he did some research and told me the taxes were not going to be paid by PennyMac and that I should receive the check in the mail by the end of the week ($5600). I did not receive a check. I called PennyMac again on Nov 2. The representative that I spoke initially told me the taxes were paid. When I asked her to confirm to whom the check was written, she could not figure it out. Where is my money, and how am I supposed to get these taxes paid? Now a manager is supposed to contact me this week to resolve the issue. Frankly, I do not feel confident that this is going to be resolved before property taxes are due to the tax collector. I would like help to get this settled in a timely manner.Desired Settlement: I would like the Revdex.com to help me get a straight answer from PennyMac about my escrow account and property taxes. I need to know where the money is and how I am going to get my taxes paid. I also want other people to know how horrible this company is. I would not recommend them to anyone.

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 spoke to Ms. [redacted] on November 4, 2013, to discuss his concerns. Ms. [redacted] was provided with a substantive response that addressed her concerns. PennyMac informed Ms. [redacted] that the funds in question were in fact sent to her taxing authority as she initially requested. Furthermore, PennyMac received confirmation from the taxing authority that they received the funds and applied them to her account on or about November 15, 2013. An apology letter and 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: I paid my home loan to chase at the same time chase sold my home loan to Penny Mac. Penny Mac went into my checking account with our approval and took the funds for my home loan payment which was already paid. I called penny mac to have this process stopped.They did not and this action over drew my account. I paid the over drafted penalties of 118.00 dollars. Penny Mac finally returned the funds they took from my account without my approval. I sent documents of the damages they caused by their actions. I was informed by Penny Mac they would pay for the damages they caused. To this date I have not been paid back for the damages or the time it took me to correct the mistakes. I have called a number of times, left message with the complaint department. they do not call back or respond.Desired Settlement: I would like Penny Mac to return the funding damages they caused with a letter of their correction. I would like they to be at least accountable and call back with a settlement to this matter.

Business

Response:

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

Review: We now are on 90 days to refinance on our home we can not get a hold of anyone at pennymac to give us answers. No matter if we contact them by phone or by email. I have tried everything to make this process easy for them. I got payoff statements and numbers for my wife student loans, capital one and midland funding and other debt we want to pay off. We have been to underwriters 3 times now because they can't figure out Nel net student loans. Frustration level is at 100%. Seems like they don't care. Pennymac told us not to pay July mortgage now we are in default with them.Desired Settlement: We would like to have our home refinanced within the 5 days, due to other debt we need to payoff.

Business

Response:

Thank you for bringing this matter to our attention and allowing PennyMac Loan Services, LLC (“PennyMac”) the opportunity to review and respond to Mr. [redacted]’s concerns.PennyMac strives to provide superior customer service and respond to all inquiries in a timely manner. Upon receipt of the Revdex.com notification, a PennyMac Representative contacted Mr. [redacted] on July 21, 2015, to discuss his concerns. Mr. [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 Mr. [redacted] under separate cover. PennyMac values and protects its customers’ confidential information. Due to privacy reasons, we will refrain from posting any personal information to the Revdex.com site as we do notdisclose our borrowers’ personal information.

Consumer

Response:

Review: 10720235

I am rejecting this response because: it is now July 28, they told us we were to close Monday July 27. They then told us 45 minutes before closing that we could not close this month. The reason they said was because the July mortgage had to be paid, which back in the beginning of July they told us not to pay. This company is horrible with guests relations. We never want to deal with them again or anymore

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] 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 Mr. [redacted]’s loan and the process the customer has received, to ensure that his concerns are addressed. Once the review has been completed by PennyMac , a written response will be mailed to Mr. [redacted]’s mailing address on file, 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.

Review: I'm currently attempting to refinance my home with PennyMac. I was given several different closing cost figures prior to electronically signing the paperwork online. I was initially dealing with a representative ** V[redacted] then transferred to another representative Marsha Jerricks. Once I submitted all of the required forms they needed they gave me a link to sign the paperwork online. At that time the last quote for the closing costs given to me were $9400 and then lowering the costs again to $8129 that was for me signing all paperwork in July as I had informed the PennyMac from the start I would not be able to sign the refinance paperwork because I work oversea's supporting US troops and soonest availability would be in July.Once online looking at the documents for signature I had questioned the pricing, because it did not look like then lowered to $8129, Marsha informed me, the closing costs would be even lower at $6,234.57, which of course was great news, this was the 20th of May via email. After receiving this news in good faith, I signed the documentation. Approximately 3 days ago I get correspondence from PennyMac my closing costs will now be $8129. I have obligated money to travel UAE Consulate to sign the refinance documentation, planned a whole vacation around this to include flying my fianc out to meet me all based off of PennyMac's $6,234.57 closing costs, not hiking it up $2000 20+ days before the signing.Desired Settlement: Just requesting what was promised to me and what I based my decisions on, nothing more which is the closing costs at a rate of $6,234.57.

Business

Response:

Thank you for bringing this matter to our attention and allowing PennyMac Loan Services, LLC (“PennyMac”) the opportunity to review and respond to Mr. B[redacted]’s concerns.PennyMac strives to provide superior customer service and respond to all inquiries in a timely manner. PennyMac is currently in the process of researching Mr. B[redacted]’s concerns as they relate to information provided to him regarding his recent refinance. A representative will be in contact with Mr. B[redacted] and a letter of explanation will be sent to Mr. B[redacted] under separate cover. PennyMac values and protects its customers’ confidential information. Due to privacy reasons, we will refrain from posting any personal information to the Revdex.com site as we do not disclose ourborrowers’ personal information.

Consumer

Response:

Review: 10668289

I am rejecting this response because: I have not received a phone call, only an email this morning and there is no change, I received an email stating they would explain all charges involved, they have previously done this and then increased the cost by 2000 dollars. They explained the process, they stated the costs involved whether that was their mistake or not, that was the cost stated and agreed upon.

Regards,

J[redacted]

Review: My loan was sold to Pennymac from Chase on 6/2. On 5/28, I made an escrow short payment in the amount of $1730.17 to Chase which changed my payments to $1489.81. I sent Pennymac my first payment in the amount of $1489.81 on 6/9/15 (to the address on the return envelope in Los Angeles, CA.) and the check was cashed. Prior to sending that payment, I called Pennymac, because the statement they sent me for my June payment showed the amount of $1633.99. I informed the representative about the escrow shortage payment I made to Chase and he informed me he would take care of it. The escrow shortage payment should have moved over when Pennymac purchased my load, just as their recording has continued to inform me every time I call. I even have the chase confirmation # to prove I made an escrow shortage payment. Now I get a statement dated 6/17/15 saying I owe ~3,200 because my $1489.81 got applied to my escrow short, not toward my principal and interest. In addition, it states that my July payment is $1633.99. This is completely unacceptable especially because I specifically spoke to someone at Pennymac who said they would be taking care of this and that they could see the escrow short payment from Chase. I also have no idea if this has impacted my credit report since the statement is basically saying I did not make a June payment.Desired Settlement: Please adjust my statement to reflect the payment of $1730.17 on 5/28/15 toward my escrow short. Please adjust my monthly payment to reflect the correct amount of $1,489.81. Please make the necessary changes to my credit report as I have not defaulted on a payment. As this is my financial integrity, I would appreciate PennyMac contacting me and resolving this situation by Monday, June 29th.

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. A[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. A[redacted]’s loan to ensure that her concerns

are addressed. On July 2, 2015, PennyMac sent a written response 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.