PennyMac Loan Services

Review: Require PennyMacUSA to remove my information from their database. I have been on the National Do Not Mail list for over eight years and have instructed the major credit reporting agencies not to release or share my information with any lending companies.Desired Settlement: Require PennyMacUSA to send letter stating they have removed my information from their database, that they will not sell, share, or release my information to third parties, and that they will cease sending offers to me.

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. B’s concerns.

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 they can use to mail in their

payments. In addition, borrowers have

the option of registering their loan on PennyMac’s website to submit a “One

Time Draft” or they can set up recurring monthly payments. PennyMac also offers an automated payment

service that borrowers can call in to schedule a one-time payment.

Borrowers

also have the option of using their personal bank’s bill pay services to submit

their monthly mortgage payments; however, any payment submitted through a bill

pay service is done so in the form of a check that will be mailed to PennyMac’s

Payment Processing Center. At this time,

PennyMac does not accept electronic payments submitted directly to us by a

financial institution.

While the payment option that Ms.

B is requesting is not available, please be assured that PennyMac offers

our borrowers numerous options to submit their monthly mortgage payments.

Business

Response:

Please allow me to apologize for the confusion and inconvenience the previous posting to the consumer's complaint may have caused. Our office inadvertently posted the previous response in error.

I received an Annual Escrow Account Disclosure Statement on the statement it shows different totals which is quite confusing. Then it states that my escrow account is short about $5,209.70. I called and the first representative said it was a tax lien for $2,439.66 back in December he does not why, he put me on hold and after a holding forever we got disconnected. I called back and spoke to a representative name Joe. Who was not helpful and seemed annoyed that I was asking him questions on why I owe this amount. He told me to contact me county tax office and ask them. I don't understand why would I have to contact them when you all are asking for the payment. I did pull up my tax info to ensure I was current on my taxes and yes I am. I need clarification on why this amount is for and why was there a lien for $2,439.66?

PennyMac bought my loan from Chase in July of 2015. I was in the middle of a modification loan. Since then after months of back and forth I finally received the paperwork the first part of November. I have signed and returned paperwork (which they have), paid all payments on time, and am now getting foreclosure letters certified and regular mail. I was told it hasn't closed yet and not to worry, just ignore the letters????? My stress level is a hrough the roof and I am disabled with MS so this is triggering an episode. Is this a "predatory" situation? I need answers now, no more threatening letters!!!!

Review: To whom it may concern:My mortgage loan was recently acquired by PennyMac Loan Services from JP Morgan Chase on 6/1/2015. As this is an FHA loan I do carry escrows for Homeowners and Flood Insurance. To my surprise, PennyMac and Chase have a large communication breakdown in the loan transfer process. PennyMac failed to notify through JP Morgan Chase of the sales of the mortgage, causing my Flood insurance to cancel and not renew. I discovered this when I first tried to pay my mortgage with JP Mortgage Chase and could not complete the transaction, to later find out that my former insurance agent American First Advantage was trying to bill JP Morgan Chase for the renewal of my policies and could not as I was no longer there customer, no where in this process were they communicated on who or where to send the invoice for the Homeowners and Flood policy. I quickly took action and changed my homeowners policy with Geico. I also started to quote my Flood and purchased it from them. The issue is that I was charged a Lender placed flood insurance for $4,902 on 07/23/2015 for APT/CONDO policy when I have is a single family home taken from my escrow account. I had to quickly purchase a replacement policy with effective date of 09/09/2015 as I had to wait 30 days for policy to take effect. I had to pay it out of pocket as escrows were left without funds to cover $330.00 thanks to the lender policy. I am extremely irate at the fact that PennyMac turned on a lender placed policy and the customer pays the price for a gap in loan transfer process between banks. This problem would of never happened if I my mortgage wasn't sold. My customer experience with PennyMac has been a awful one and do expect a solution to this problem. If it wasn't for my 3.25% interest rate I would be long gone with another bank.Desired Settlement: Dear PennyMac,To solve for this error between banks and the underwriting error of mis-classification pf the property type "Apartment/Condo" instead of a regular home. I am certain if I would of had a loss during the lender placed flood insurance no claims would have been paid due to this error as the policy was incorrectly underwritten.What I want is a full refund of the remaining amount of the total of $1,058.08 which was claimed as earned premiums during the time I procured my flood policy

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. A[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. A[redacted] to discuss his concerns regarding the payment of his flood insurance. A detailed

letter of explanation will be sent to Mr. A[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:

[To assist us in bringing this matter to a close, you must give us a reason why you are rejecting the response. If no reason is received your complaint will be closed]

Review: 10928994

I am rejecting this response because:

Review: Hello,Last December I asked Penny Mac loan services to terminate the PMI on my loan as we have reached 82% of the principal balance on the loan. They said that they would appraise our property again and will decide based on the value of the property. I received a letter from PennyMac on Jan. 2, 2015 saying " ... Your request to delete PMI has been declined due to the following: The recent Broker's Opinion Price(BPO) obtained by PennyMac on December 17, 2014 on your behalf determined that your property value has declined from the original value, of $125,000 to $55,000...." Therefore I had to continue paying the PMI. There is a $152 BPO fee charged on my monthly invoice since then, which I haven't paid it yet. Upon receiving their letter, I have called them several times, at least 5 times, and asked for a copy of their BPO result. Instead of it, they sent me twice copies of the original appraisal that had been done in 2012 or sent nothing. Last month I called them again and talked to a supervisor and she promised to follow my request and have it sent immediately, which never happened. I don't understand how our house value declined $75,000 just in two " normal" years, though it is quit understandable during an economical crash like in 2008. Now my complains are as follows:1- I was not informed that I have to pay $152 for the BPO.2- Why they don't send me a copy of the BPO? Why PennyMac representatives couldn't find it so far?Best wishes,Angry CustomerDesired Settlement: I want them to send me a copy of the BPO and adjust the $152 fee, if it is applicable.

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. F[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. F[redacted]’s loan to ensure that his concerns are addressed. PennyMac representative will send a written response in regards to researching his concerns as the issue is currently being researched and will be 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: My VA Loan was sold to pennymac one year ago. I was never late on my payments since we purchased our home. My wife and I are on a fixed income because I was diagnosed with cancer and on Leave without pay from the federal government two years ago. Pennymac said they where going to start a foreclosure on our home because we are late and have not been making our payments. This is not true. We have bank records showing that we have made our payments on time every month since we purchased our home. I also received a property tax statement stating pennymac was not paying our taxes. The property tax's and Insurance are paid automatically out of our mortgage payment. I called pennymac and they said they forgot to withhold the escrow tax payments. Out of our mortgage payments and there was not enough money in the escrow account to pay the tax's. They said and threaten us with foreclosure. They said we where behind on our mortgage payment this is not true. They said we could pay the taxes ourselves. Or they would increase our mortgage payment from $1686.28 to $1961.91 a month. This is a $275.63 increase in our monthly mortgage payment per month because they have made and error in our escrow account. This money was set aside for my chemo and medical payments. I have looked over the internet reviews and complaints on pennymac. I noticed there are many complaints about the same issue.Desired Settlement: They need to set the agreed mortgage back to $1686.28 per the recorded contract. Stop the false threats of foreclosure. They need to itemize a monthly statement of all the money paid into the escrow account and what was paid out to property taxes and insurance. This should include all principle and interest payments. The loss of $275.63 per month put us in a bad position financially to where we can't afford my chemo used to treat my cancer.

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. W[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 conducting a complete and thorough review of Mr. W[redacted]’s loan to ensure that his concerns are addressed. On August 17th and August 24, 2015 a PennyMac representative called the telephones numbers for Mr. W[redacted]’s, with no answer on the telephone line. PennyMac will review Mr. W[redacted]’s concerns and send a written response in regards to researching his concerns.PennyMac values and protects its customers’ confidential information. Due to privacy reasons, we will refrain from posting any personal information to the Revdex.com site as we do not disclose our borrowers’ personal information.

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. W[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. W[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.

Consumer

Response:

Review: 10768258

I am rejecting this response because: they will not show me the legal reason for not paying my taxes. And also they have increased my monthly mortgage payments per month by $340. I have been researching the internet about penny mac and over 165 complaints from other penny mac customer with the same problems. This company needs to be really dealt with. Please we need to stop them from hurting people.I have not missed a payment. Always pay ahead of the due date.

Regards,

[redacted]

Review: We refinanced with this company December 2014, our original loan with was with them as well. We were originally scheduled to close December 15, 2014 but that day came and went without any notice of a change. Once closed we received a 1800 + check in the mail. After calling and enquiring if we needed to send this money back for our escrow I was told over four times that our escrow was ok and we were given that money as it was an overage from our previous escrow. Come to find out this check was originally suppose to pay for our insurance, but was sent to us instead and has now caused us to have a negative account. Now Pennymac states we will have to pay it all back and will not provide any assistance even though multiple personnel have told us otherwise.Desired Settlement: Pennymac needs to cover the negative as this was their mistake and needs to be fixed.

Business

Response:

Thank you for bringing this matter to our attention and allowing PennyMac Loan Services, LLC (“PennyMac”) the opportunity to review andrespond to Ms. J[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 Ms. J[redacted] on June 24, 2015 to discuss her concerns. There was no answer on the number provided and a voice mail was left to provide the direct number for the agent handling Ms. J[redacted] concern. PennyMac will be providing a detail response 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: 10675655

I am rejecting this response because: I have tried to retun their phone call on numerous occasions and have not received a call back or even a follow up call since they last called me.

Regards,

[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. J[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 Ms. J[redacted] on July 16, 2015, to discuss her concerns. Ms. J[redacted] was provided with the name and the direct number of the agent who will handle her concern. A letter of explanation will be sent to Ms. J[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: 10675655

I am rejecting this response because:Pennymac messed up and sent my husband and me our insurance payment from our escrow when we refinanced our home back in December. I have tried talking to them on numerous occasions but I can never get a solid answer on what happened and if they will fix the problem. We called them at least four times to confirm that the money sent to us was not meant for something else and was told our insurance and taxes were paid for the year and the money sent to us was leftover. That ended up not being true, now our escrow account is negative and Pennymac and their associates simply will not fix the issue they caused. I have spoken to two executives now M[redacted] and C[redacted], both promising to call with a resolution and both now have falling off the map.For our negative escrow to be paid out and fixed by Pennymac.

Regards,

[redacted]

Review: Penny Mac has caused me Financial Stress and hardship. Their customer service is incompetent and and they don't care to help their customers in any way. Each time call in, the customer reps all say something different. They are never wrong and always make it like you are wrong.Customer is always right means nothing to them. When you say your complaint, they want to know who you spoke with and they don't actually put notes in their system of what they actually said to you. They cover up their mistakes and don't own them. I was told at the beginning that I could split my payments up and pay one by the 16th of each month and the other by end of month. One rep tells me that I can. When I started incurring charges and my balance NEVER going down as much as it should have, another Rep tells me that I cannot do partial payments and that it's ALL due by the 16th of the month. I told them when I get paid but they didn't care to try and resolve a way to help me. I was also told that I could set up payments that would have my payments come out when I get paid. Instead, they decide that they want to take my money out of my account BEFORE my next pay day and have caused my account to go negative EVERYTIME they do it. They are so stupid and have no sense that all they care about is themselves as a company and not customers. They make up their own rules as they receive calls. They are NOT a company that gives a 5 star customer service to their customers. This company is FRAUD FRAUD FRAUD and needs to be shut down permanently. The company is a joke.Desired Settlement: I want a refund on ALL late fees that should not have incurred. I have paid my account like I am supposed to. I want a refund on ALL the money that has caused my account to go negative due to money being taken out BEFORE I get paid. This whole process has caused me financial stress and hardship.

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 conducting a complete review of Ms. L[redacted]’s loan to ensure that her concerns are addressed. Please be aware that once the research has been completed, PennyMac will send a written response in regards to researching her concerns. A representative has reached out to Ms. L[redacted] to inform of their name and direct number as they will be handling 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.

Review: I received a notice from my homeowners insurance company on 6/5/15 stating that since they have not received my payment, they were canceling my insurance if they did not receive it by July 3, 2015 (It was due on May 26, 2015). I thought this was bizarre since I have an escrow account with Pennymac and they are supposed to pay this out automatically. After informing Pennymac about this cancellation, they realized they never sent the contract back to my insurance company. After several calls, they finally "said" they issued a check....yet 5-1/2 weeks later, my insurance company still hasn't received a check! Now they are saying it's been cashed but can't tell me who cashed it. I've requested the check image 5 times and they say they are going to fax the check and never do. To throw salt into the wounds, they paid a LATE fee for my insurance out of MY escrow account when they were the [redacted] that were late. So after 10 calls, 11 representatives, 5 supervisors, this matter is still not resolved. Their customer service is TERRIBLE and my homeowners insurance is now cancelled thanks to them. NEVER use these people for your loans! They are happy to take your money but never pay your bills! No wonder they can't manage my money, they can't even fax a piece of paper over! I'm considering refinancing just so that I never have to talk to these people again.Desired Settlement: I would like you to actually pay my bills on time. I pay into an escrow account for a reason. You guys get my money interest free every month until you need to pay my bills. The least you can do is actually PAY my bills on time. Thanks to you, I'm now without insurance&you WILL be held liable for my house&belongings inside my house if something happens. As for an immediate fix, please call me so we can get my insurance reinstated. My insurance company&myself would like a copy of the cashed check

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. J[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 called Ms. J[redacted] on July 16, 2015, to discuss his concerns. A message was left on Ms. J[redacted]’s voice mail with the name of the agent and the agent’s direct line and business hours. A letter and letter of explanation will be sent to Ms. J[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 was paying my morgtgage to CItiMortgage for many years. When the economy went bad I lost lot of jobs (self employed) and requested a loan modification which Citimortgage gave me. I payed the new amount for 8 months. Without my knowledge Citimortgage sold my loan to PennyMac n they don't want to honore it. This was more than 3 years ago. All they do is request documents which I send. I even payed a third party to help me out and when we think everything is going to go through they refer the case to another person and it starts all over again. This is sooo stressful. I just don't know what else to do! I dont want to loose my house!Desired Settlement: I was wondering if there was a way you people could help me maybe by talking to them? Please send me an email telling me if you can help me in any way.. Thank you so much!

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 the consumer’s concerns.

PennyMac

strives to provide superior customer service and process all transactions

timely and accurately. Please be assured

that efforts are made by PennyMac representatives to accommodate our customers’

requests for assistance; however, in today’s financial environment, there are

very stringent guidelines placed by investors that PennyMac must adhere

to.

A

review of our records confirms that the consumer is actively working with a PennyMac representative to address her concerns. PennyMac will continue to work with the consumer towards an amicable resolution that substantially addresses her concerns. Please be assured that PennyMac will

thoroughly review Ms. Vargas’s request for assistance; however, we are unable

to guarantee that she will be approved for a program.

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: I recently discovered that PennyMac Loan Services is not reporting my payment history to the Credit Bureaus. It was explained to me that it was because I had a previous banckruptcy, which has been dismissed completely in 2013. I did not have mortgage loan with PennyMac during this time when I filed bankruptcy, I was with Bank of America. They took over the loan after my case was dismissed. This has caused me to receive loan denials and low credit scores. The last mortgage loan information on my credit report only shows the delinquency with BOA. Since I have been with PennyMac, I have made on time mortgage payments since 2014; therefore, this should be reflected on my credit report. This practice has caused a hardship to my personal life and doesn't reflect my now, perfect payment practices. They are holding something against me, that I am no longer in. It was dismissed not discharged! Please assist me with this matter.Desired Settlement: I would like the documented loan payments reflected in the 3 in 1 credit bureaus since my loan was placed with PennyMac Loan Services.

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. We are currently conducting a fullreview of Ms. [redacted]'s concerns. Upon completion of our review, a response letterwill be mailed to Ms. [redacted], detailing our findings and action taken. 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: 10723582

I am rejecting this response because:I spoke to my Attorney on Monday. She explained to me that it is a Federal and State Law that PennyMac Loan services must report my mortgage payments to the credit bureaus. I was also advised to file a complaint with one of the credit bureaus as well. I am currently paying taxes on the part of my modification that pennymac describes as " forgivable". I received a 10-99 C. Also, my bankruptcy has nothing to do with this company. My bankruptcy was dismissed and I have assumed all debts and they have been paid or are being paid. Lastly, pennymac was not included in my bankruptcy and again it was dismissed not discharged.

Review: I have mortgage with this company and I got a letter regarding insurance on the property. The letter says they do not have my insurance on the file, so they went ahead and got an insurance binder unless I provide my own insurance. There is fax number for send them my current insurance and I faxed my insurance to them 4 times in the last 3 weeks and they are saying they still do not have it on the file.The insurance that they got for my condo is $8800 a year and is for up to $2million (I bought my property 6 months ago less than half of that price). Average cost of insurance for a townhouse like mine is around $600 a year so I do not know how on the world the insurance that they got is $8800.Everytime I call the customer service, they are telling me we do not have your insurance and please fax it to us and I do and nothing happens. Also once one of the customer service reps told me that my property is mistakenly flagged as Single family house and she will fix that for me in their system (her name was [redacted]).Desired Settlement: I just want Pennymac to fix whatever is broken in their system/process, update my insurance information in their system with the information I provided to them.

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 January 7, 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. 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: Since January 14 when my loan was sold to pennymac I have nothing but trouble with this company. Back in January pennymac had told me that I had a debt with them. When I inquire about the debt they told me that was a debt carry over from Bank of America, when I call BofA they told me that the account was clean when it was sold to pennymac. after numerous calls they couldn't tell me that it was a change in the escrow, I had to do the research to find out why they were saying that I owe them money. Now they have over $2,000 that they have not accredited to my account even do the money is in their bank. They keep sending me correspondence saying that I owe them over $2000 (that is in their bank) when in reality the actual amount owe to pennymac is $170.00.I work hard for my money if someone said that I owe them money at least have the reason of why I owe you money instead of basically because I say so!Desired Settlement: Real simple, for pennymac to account for all the money that my bank had send they are holding and send me a bill for $170.00 instead of thousand of dollars that they said that I owe but is in their bank.

Business

Response:

PennyMac Loan Services, LLC, (“PennyMac”) strives to provide

superior customer service and respond all to requests in a timely and accurate manner.

Thank you for forwarding Mr. V[redacted]’s concerns to our attention and

allowing us the opportunity to respond.

Review: Bought our mortgage from parkside lending. Never got a letter or anything stating that they had bought it from parkside. Tried calling both places neither one seemed to know what was going on. We continued to pay parkside. Now parkside says they sold it to penny mac. Penny mac says we are 2 months behind on our mortgage. Now it shows up on my credit report that we are 2 months behind. Has effected my credit score.Desired Settlement: I want my credit score to be fixed now that they got the acct stuff situated.

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]’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, PennyMac confirmed that the servicing of Mr. M[redacted]’s loan was transferred to PennyMac, effective September 1, 2015. As such, PennyMac requested that Mr. M[redacted]’s previous servicer forward the September mortgage payment to PennyMac and a credit correction was submitted to the credit bureaus on behalf of Mr. M[redacted].Mr. M[redacted] was provided with a substantive response that addresses his concerns. A letter of explanation was sent to Mr. M[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.

I don't understand how Penny Mac can purchase my mortgage from another banking institution when they are not even licensed in the state that my home is in. I have been told by Penny Mac that cannot change or refinance my loan that they now own because they are not yet licensed in my state and they have had my mortgage for almost 2 years now!

How is this even legal that they can do this?

This company has been nothing but a problem since they bought our mortgage. Penny Mac bought our loan about a month ago and told us that we would have a 60 day (2 months)window to start paying them (Penny Mac). I was told by a P.M. agent that before I pay anything that I should call them back on July 10th because the initial payment was different than we were paying.

July's payment went to the previous lender which then sent they sent the payment to P.M. (I know this because I called the previous lender). The house payment is not considered late until the 16 of the month according to P.M. On the 3rd day of July they called us harassing my wife asking where the payment was and the amount was going to be $3000+ that we owed them. My wife stood her ground and walked through their job for the P.M. employee that we did not owe $3000+. We ended up owing them $38.00.

I sent out August payment on August 1 (postmarked on the 1st) and was called on the 2nd where our payment was. Again they were told that the payment was on its way and had to remind them of their policy of it is not late until after the 16th of that month. They apologized and said that this would not happen again.

My wife just received a call from P.M. and was asked where the payment was and that they had not received it. My wife looked up the automatic payment from our bank and confirmed that the payment went out and was received by them on the 5th. My wife had had it and was screaming into the phone to talk to a supervisor. After being on hold for quite some time, a supervisor answered the call, apologized to my wife saying that the mistake was on their end and the payment was received by them on the 5th and that we would never be called again about these problems again.

Review: I recently purchased a home. My escrow closed on June 15, 2013. My first loan payment with Penny Mac was already taken care of, so the first payment I needed to make was due on August 15, 2013. I got married on August 3rd and then left for my honeymoon, which would take me out of the US until after the 15th. In order to take care of my loan payment prior to leaving, I sent up an automatic withdrawal online. Upon returning from my honeymoon in late August, I received a late notice. I spoke with Penny Mac for over two hours and finally figured out that my payment had not been taken out. The Penny Mac employees could not figure out cause for this problem. The employee guided me through the online process of setting up payments and told me it was taken care of. On September 17, I received another late notice. Not only had my online payment somehow failed again, but I was charged an $85 late fee. Again, I called Penny Mac and was given no answer to why this happened. I was told to make the payment online and to let the automatic payment begin next month (October 2013). Once again on October 1st, my payment failed to come out of my account. After speaking with three people at Penny Mac and receiving multiple different stories, I finally insisted on speaking to a manger. It turns out that no payments can be taken out online if a payment is late. Today (October 7, 2013) is the FIRST time anyone has told me that even though it has been a problem for three months. The manager told me his employees were "misinformed."I am completely outraged by this company's lack of professionalism and employee training. I feel like I am being scammed by Penny Mac so that they can collet an extra $85 from me each month. This business should be penalized.Desired Settlement: I would like a refund for both of the $85 late fees is incurred due to Penny Mac's "misinformed" employees.

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 requests in a timely and efficient manner. Upon receipt of the Revdex.com complaint a PennyMac Representative attempted to contact Ms. [redacted] to discuss her concerns. Our office was able to speak with Ms. [redacted] on October 18, 2013, and provided her with a substantive response that addressed her concerns. PennyMac confirmed with Ms. [redacted] that the any fees assessed to her loan were waived and the appropriate steps were taken to ensure that her loan remained in good standings with PennyMac.

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.

Thank you for allowing me the opportunity to be of service.

Review: On August 5th 2013 I was involved in a situation where my property was damaged. My insurance company issued me a check to have my property rebuilt and restored. I overnight the check on August 15th 2013 to PennyMac Loan Services to have the check endorsed and reimbursed so I can pay the contractors to start and complete the job. Keep in mind, all of my paper work was completed and submitted to PennyMac on August 23rd 2013. All I have been receiving from PennyMac is excuses about not sending my entire funds to pay the contractors. First they stated the contract was not signed by the contractor. No problem, that was an error on my part. I corrected that error. Secondly, they stated that they couldn't read the work contract. The contract was very visible when I faxed the document. I had a second person look at the contract and founded it was very visible. Next, I was told that a check was going to be FedEx to me 5 to 7 business from September 15th 2013. I called PennyMac on September 17th 2013 to confirm that I was going to receive my check and the customer service representative stated that there was a computer problem and they would have to re-enter the order for the funds. I spoke with a customer service representative and a supervisor on September 27th 2013 and the supervisor stated she was going to return my call this evening with an update. I have not received a phone call. When a company of this magnitude are giving you nothing but excuses and lies that means the government needs to start conducting an investigation. This sounds like a repeat of Countrywide Home Loans.Desired Settlement: I want my $9,600 returned to me and I want a phone call from either Mr. James Duarte, Executive Research Asst., Mr. Stanford Kurland, Chairman & Ceo or Mr. David A. Spector, COO.This is very alarming!

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 requests in a timely and efficient manner. Upon receipt of the Revdex.com complaint a PennyMac Representative called Mr. [redacted] on September 30, 2013, and October 1, 2013, to discuss his concerns and provide him with a substantive response that would address his concerns. PennyMac will continue to work directly with Mr. [redacted] to resolve 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.

Thank you for allowing me the opportunity to be of service.

Review: Hello and Happy Holidays,PennyMac purchased insurance on my behalf and at my cost which is not required. I have had the same loan and insurance (through my HOA) for years, and this year, despite having provided all of the same information which I always have, PennyMac (after multiple submissions via multiple modalities) continuously stated that they either had not received it, or received it and it was fine, but would then send me another threatening notice. 12/11/14, I was notified that costly and minimal coverage had been purchased using funds from my escrow account. This, after on 12/2/14, they emailed me again providing misinformation about not receiving necessary information---which I have provided 5 times at this point. I have spent hours trying to rectify this matter with them, to no avail. I have documentation in writing, electronically, with times stamps on everything, demonstrating the efforts I have gone to provide all that PennyMac needed to circumvent this situation. This company's outsourcing of its insurance verification process has resulted in disorganization, discrepancies, and illegal insurance purchasing practices. In order to right this wrong, I would like a refund of all funds paid for insurance arranged through PennyMac. Based on the paperwork sent to me, it would appear this amount will be $1,547.65. Thank You,[redacted]Desired Settlement: In order to right this wrong, I would like a refund of all funds paid for insurance arranged through PennyMac. Based on the paperwork sent to me, it would appear this amount will be $1,547.65. Thank You,[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. [redacted]'s concerns to our attention and allowing us the opportunity to respond. 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. 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:

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. A PennyMac Representative contacted Ms. [redacted] on Februar y 11, 2014, to discuss her concerns. Ms. [redacted] was provided with a substantive response that addresses her concerns. PennyMac confirmed that an LPP refund was processed. Furthermore, a letter of explanation was sent to be sent to Ms. [redacted] on February 13, 2015, confirming the same information. A copy of this letter will be mailed to Ms. [redacted] once again.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: My loan was sold at the end of 2013 to PennyMac by Amerisave. Amerisave paid my November property tax bill in the amount of $3,957.64. PennyMac also paid the same property tax bill (out of my escrow account) one month later, so a duplicate payment was made. On February 3, 2014 I spoke with Nancy at the Alameda County tax collector's office (###-###-####). She confirmed a duplicate payment was made. However, the tax collector's office returned a check on December 30, 2013 (check #[redacted]3) in the amount of $3,957.64 to PennyMac at PO Box 5[redacted]7, Los Angeles, CA 90051. February 3, I spoke with Eric at PennyMac. He confirmed they received the check and it was deposited on January 10, 2014. However, Eric acknowledged that PennyMac did not apply the $3,957.64 back to my escrow account (my statements clearly reflect that as well). Eric stated he escalated this issue to his supervisor, [redacted], and she escalated it to their internal tax department. Eric stated the funds would be returned to my escrow account within 2-3 business days. On February 8, 2014 I phoned PennyMac, spoke with Victoria, as my escrow account still hadn't reflected the $3,957.64 credit. She stated she couldn't get a hold of [redacted], but would send her an email and Tiffany would get back to me within 24-48 hours. I phoned PennyMac on February 12 as Tiffany still hadn't returned my call. I requested a return call. On February 19 I phoned PennyMac once again as Tiffany hadn't returned my call. I requested a call back. Today, February 27, I phoned PennyMac again as I hadn't received a return call. Spoke with Greg, asked him to transfer me to the internal tax department directly. He stated the tax department doesn't take calls from customers. He generated an email to [redacted] and [redacted] that included all the information I provided here. I requested their email addresses (so I could contact them directly) and he would not provide them. I don't trust they'll get back to me.Desired Settlement: PennyMac is to credit $3,957.64 back to my escrow account immediately.

Business

Response:

Thank

you for bringing this matter to our attention and allowing PennyMac Loan

Services, LLC (“PennyMac”) the opportunity to review and respond to Ms.

[redacted]'s concerns.

PennyMac

strives to provide superior customer service and process all transactions

in a timely and efficient manner. Upon receipt

of the Revdex.com notification, our office contacted the borrowers to their concerns. A thorough review of the loan was completed as

it related to the status of her Tax Refund. Our office confirmed that the tax refund was sent

to PennyMac by the Taxing Authority; therefore, a request was submitted to

credit the loan the amount of the tax refund, while PennyMac research the

status of the funds returned by the Taxing Authority. A credit was applied to the loan’s escrow

account on March 4, 2014 for the refund amount.

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 9946647, and find that this resolution is satisfactory to me. I'd like to note, it's unfortunate it had to take a complaint to the Revdex.com in order for PennyMac to resolve such a simple issue.

Regards,