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Reviews PennyMac Loan Services

PennyMac Loan Services Reviews (976)

Review: First, My husband and I were notified that we did not have home owner's insurance which we did and had previously sent proof of to their office. It took us six different times contacting them to get the situation resolved. In the meantime, they went a head and put their insurance on our loan(which costs $700+ more than our current insurance). Shortly after this was resolved, I opened our statement issued 8/19/2013 and it showed that our next mortgage payment was due 10/1/2013 so I contacted their office, while on hold I noticed that our statement showed two mortgage payments being collected in July(we are set up for ACH payments). This resulted in $130+ in fees, they were repaid but I was very alarmed by this and asked the agent on the phone how often this happens. The response I got was that I do not have to worry as they are always sure to cover any associated fees. They also assured me that our September payment would be deducted from our account as scheduled. A few days we received a pre-foreclosure notice in the mail prompting us to contact their office and our attorney, after having never missed a payment. When my husband called he was informed that another person's payment was applied to our account and since that individual was in pre-foreclosure we were sent the notice by mistake. This is absolutely unacceptable, especially since we've only been with them since late March of this year.Desired Settlement: These practices are truly unacceptable and I find it hard to believe that this has only happened to us or our account. This should be looked into more closely and greater accountability should be required as they are dealing with large sums of money as well as peoples' homes. Maybe these mortgages should be handled by a larger company who can better facilitate the case load.

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. A[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 Ms. A[redacted] on September 13, 2013, to address her concerns and provide her with a substantive response that would address her concerns. PennyMac confirmed with Ms. A[redacted] that she was not assessed any fees as a result of the concerns she described. Furthermore, please be assured that Ms. [redacted]’s loan is 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.

Consumer

Response:

I have reviewed the response made by the business in reference to complaint ID 9700913, however, nothing was actually resolved. The business simply called me and provided yet another slew of excuses just as they have before. I truly think they should be looked into as their business practices are not up to par. Someone else's payment was applied to our loan and from my conversations with their representatives, this is not uncommon. I am very concerned with the security of my information and financial services with Penny Mac.

Regards,

Review: In sept 2010 my loan was sold from city mortgage to peny mac. I had just did a forbarence with citi and 3 days later my lan sold to penny mac. I had no knowoedgebofbit being sold till I recieved a letter from penny mac. Penny mac never honored the forberance from citi mortgage. Citi sais they transfered the aproved forerance was sent to penny mac. They say it never did. I recently signed a died in leau. But think I was frauded and a victim from penny mac and citi mortgage. My property adress was [redacted] rd enosburgh vt 05450. Loan # 1xxx-xx-xxxxDesired Settlement: My credit fixed so I font have to wait abother 3 yrs before I can buy a house. And money for pain and suffering I and my kids endured from bring forced from my house and the finacial ruin it has caused 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 Mr. [redacted]' concerns to our attention and allowing us the opportunity to respond. Our office contacted Mr. [redacted] on November 25, 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 Mr. [redacted]' concerns. We appreciate Mr. [redacted]' 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: Please see below for details on my complaint. I faxed this complaint to the complaint department on May 13th. Ms. [redacted] said she filed a complaint for me as well. I have sent two emails to [redacted] this week asking the status and an email to [redacted] and [redacted]. As of today (05/16/14)I havent heard back from anyone at Pennymac.To Whom It May Concern:We were with Bank of America for several years, as of December, our loan was transferred to PennyMac. Since then I have been very, very unsatisfied how things have been happening. First, about a month or so after the transfer we get a call/document about a possible shortage in our escrow. We were pretty confused, because since 2008 (when we originally bought our house), we have always had an overage and have received a check. But now all of the sudden with PennyMac we are under and owe?? The lady said we could wait and not pay until its all calculated at the end. Fine, and thats what we did. Come March, somehow we started a refinance. Im not sure how it all began, but we were interested in lowering our payments so that we could pay off some other bills. So we went for it. We should have never started this. It has been the most frustrating and confusing process ever. Honestly, Im not even sure if we want to stay with PennyMac. I have broken down our process below. The dates may not be completely accurate; I tried my best in remembering. But it has been a pretty frustrating process so the dates are a little fuzzy.03/31 started the refinance process04/22 received an email with our final settlement statement and a few highlights:attached is your final settlement statement as discussed on our original conversation you will not have April or May payments next payment wont be due until June, I also gave you a principle reduction of Principal Reduction 3,360.74 you are also getting back To Borrower 379.86:04/22-04/23 I received a call from Mr. [redacted] saying that he would see me at 6pm to sign the papers. I had no idea who this Mr. [redacted] was. I reached out to [redacted] (loan consultant at PennyMac) and he said that was the notary that would be coming to our house to finalize the loan.I called Mr. [redacted] and explained that no one had contacted us about available times and that we werent available at 6pm. He was unsure as to why we hadnt been asked when we could be available. We (Mr. [redacted] and I) reached an agreement on a time that worked for my husband and i.04/24We met with Mr. [redacted] and signed all the documents and things were finalized. We were told that nothing was owed on our part for closing and that we would get a check for 379.86. Our next payment would be due on June 1st. We signed up for bi-weekly payments to begin May 23rd.04/29-05/01We get a call from [redacted] who says that there was a mistake/miscalculation and that we need to pay $972.00. We were a bit confused that it took over two weeks for someone to realize this. And this was after we signed the papers. We started working with a [redacted]-who told us on May 1st (I believe) that he was sorry for the miscommunication and there was a mistake. But to resolve it, we would cancel this refinance and start a new loan with new figures. Our next payment would be due July 1st, but we may need to bring some money to the table this time to cover some costs. I wasnt fond of the idea of doing this all over. And was unsure as to why we would owe anything. I was hesitant about continuing any business with PennyMac and was thinking of taking our mortgage to a different company. But in the end I agreed. [redacted]g said in the next few days someone would contact us to set-up a new time for closing.05/05(morning) I sent an email to both [redacted] and [redacted]g. I told them that I was just following up with both of them to see when we could set-up a time to close. Both my husband and I work, and we already had to leave work early (last minute) the first time we signed. So I wanted to make the appointment a head of time.A few hours later I sent an email as a follow-up to my follow-up.Later that day, [redacted] emailed me and said our loan was funded. At this point, I was completely confused. I responded to [redacted] and told him that I was confused and that the last time I talked to [redacted]g, he had said we were signing new papers. [redacted]: think we covered the difference for you and funded the loan we just took the hit. Please don't hold me to that but I believe that is what occurred if you want you can call [redacted]g today and speak with him I think would be the bestThen a second email came through: There is no need to call [redacted]g; everything is done no May or April payment next payment due in June.Then I received an email from [redacted]g:Your loan did fund on 4/30/14. The first payment on your new loan is due 6/1/14 and there is no payment due for May on your old loan, that loan is paid off. My loan closer, [redacted], will call you tomorrow to go over the shortage on the loan. There are a couple of options available. As it stands right now the loan has funded, you were sent a check for $379.86 cash proceeds from the transaction and there was also a principle reduction of $3,360.74 which will be reflected on your first statement. This is a closed loan so at this point we need to show you what occurred, make sure you completely understand that and work out a solution that meets with your approval.05/06 I hadnt received a call a call from [redacted] yet. I called [redacted] and [redacted]g. [redacted]g said he would see what was holding [redacted] up.I told him that I was very confused at what was going on and I dont understand why we are constantly left in the dark. Last week he had said we were doing new papers and then when I follow up, the loan was funded?? If I hadnt sent an email was anyone going to let us know?? Who made these decisions without consulting us? Its our money, our mortgage and our loan; yet we have been left in the dark in every decision. And someone keeps making these decisions for us.I also told him that I still dont think we should owe anythiDesired Settlement: we need to settle the issue at hand so that we arent affected in anyway.

Business

Response:

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

superior customer service and process all transactions in a timely and accurate

manner.

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

allowing us the opportunity to respond.

Our

office is in the process of completing a thorough review of Mrs. [redacted]’s loan to

ensure that her concerns are addressed. PennyMac

attempted to contact Mrs. [redacted] on May 30, 2014, to advise a Priority Complaint

Specialist has been assigned to her loan to complete a review, and full

research relating to her refinance issues.

Regrettably our attempts to contact Mrs. [redacted] were unsuccessful;

however, we will continue with our review process, and efforts to contact Mrs.

[redacted].

PennyMac

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

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

borrowers’ personal information.

Business

Response:

Thank you for bringing this

matter to our attention and allowing PennyMac the opportunity to review and

respond to Mrs. [redacted]’s concerns.

PennyMac Loan Services strives to provide

superior customer service and process all requests in an efficient and timely manner. We contacted Mrs. [redacted] on June 2, 2014, to address

her concerns and advise she will not be responsible for paying the subject

shortage, as PennyMac has advanced the funds from our corporate account in

order to pay the shortage. PennyMac is

in the process of finalizing a written response to send to Mrs. [redacted], which

will serve as confirmation of our June 2, 2014 telephone conversation with her.

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.

Consumer

Response:

Review: 10054042

I am rejecting this response because: I'm still having issues with PennyMac stating they will do something and then changing their thought. I left a message and am awaiting a call back.

Regards,

Review: My Father-in-Law, [redacted], passed away in January 2009. My husband bought R[redacted]'s home approximately six years prior to his death. Despite this, we continually receive mailings and advertisements from PennyMac, addressed to [redacted]. I have corresponded with PennyMac management (marketing, customer services and the like)three times over several months; I have been apologized to - and assured - three times that R[redacted]'s name will be removed from their marketing database and that the advertisements will cease.We received another mailing ("R[redacted], lock in your new fixed rate...!") yesterday, and I've HAD IT. While we understand - and have tolerance for - the complexity of major database management, etc., we have zero tolerance for PennyMac's apparent inability to understand and respond to the sensitive nature of this situation. My husband is regularly reminded that his father is gone...PennyMac's additional "reminders" are equally hurtful and aggravating. Equally aggravating is their blatent disregard for proper, timely database management. Not sure what else to do here.Desired Settlement: I need PennyMac's WRITTEN ASSURANCE that we will never again receive a letter from their organization. And a "Dear Mrs. Lambourn" letter won't cut it. I want a screen shot (or proof in a comparable format) of their updated database or acknowledged, internal request to update it.

Business

Response:

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

Allow me to begin by apologizing for any frustration and inconvenience that Ms. [redacted] may have experienced while addressing her concerns with PennyMac. Let me assure you that the service described by Ms. [redacted] is not typical of the service expected by PennyMac. Senior Management has been apprised of Ms. [redacted]’s experience.

PennyMac strives to provide superior customer service and process all requests in a timely and professional manner. Please be advised that upon receiving Ms. [redacted]’s request on May 15, 2013, to stop all solicitation attempts to Mr. Robert [redacted], PennyMac complied with the request and updated our records by adding Mr. [redacted] and the property address to our “Do Not Solicit (“DNS”),” list.

Upon receipt of the Revdex.com complaint, PennyMac’s Marketing Department reviewed the DNS list and confirmed that Mr. Robert [redacted] and the property address were on the list and no solicitation attempts were requested by PennyMac; however, upon requesting confirmation from our Marketing Vendor that no solicitation attempts were made, PennyMac received the attached letter from our vendor explaining why the [redacted]s received a letter from PennyMac.

Once again, we would like to apologize to Ms. [redacted] and her family for the inconvenience this matter has caused them. Please be assured that in addition to the steps taken by our Marketing Vendor, PennyMac has also implemented additional processes to ensure that consumers on our DNS list do not receive solicitation letters.

Review: [redacted]I have sent 3 emails to pennymac and im trying to make sure my payment posted for october so I can make payment for nov. I keep getting different emails stating that my mortgage for october is past due. This is incorrect I made a payment of 1000 early october and late october ...total usd 2000..when payment in only usd 1691 plus late fee of usd 35. I paid well over my october payment.Desired Settlement: I would like my loan 800 0[redacted]4 show on time and I want to make sure my husband or I were not reported to the credit bureau. I would like this company to be more sensitive and actual listen to customers thru their email service becuase all they asked is to call them but im in florida and pacific time. I have two jobs and when I get home at 9pm qnd called they are closed. They are being difficult and everytime I email tthem it takes 24 to 48 hts to get response. I have tried to solve this s

Business

Response:

Thank you for bringing this matter to our attention and allowing PennyMac Loan Services,LLC (“PennyMac”) the opportunity to review and respond to Ms. C[redacted]'s concerns.PennyMac strives to provide superior customer service and respond to all inquiries in a timely manner. Upon receipt of the Revdex.com notification, a PennyMac Representative contacted Ms. C[redacted] to discuss his/her concerns regarding the application of her payments. A detailed letter of explanation was sent to Ms. C[redacted] under separate cover on November 13, 2015. PennyMac values and protects its customers’ confidential information. Due to privacy reasons, we will refrain from posting any personal information to the Revdex.com site as we do not disclose our borrowers’ personal information. “

Consumer

Response:

I have reviewed the response made by the business in reference to complaint ID 10940290, and find that this resolution is satisfactory to me. I was pleased with representative that called me and handled this miscommunication.

Review: The mortgage for [redacted] in Statesboro, Georgia was paid off on July 2, 2015. It is now Sept. 2, 2015 and I do not have the escrow check. I have spoken to numerous customer service agents and have wasted no less that 6 hours trying to get this resolved. Each time I am told to wait for it to arrive and that it has been mailed. I have waited for months and I want my money. I have no faith that I am being told the truth.Desired Settlement: I would like the check overnighted to my current address at [redacted] Dr in Lithia, FL 33547 so that it can be tracked and so that I receive it.

Business

Response:

Thankyou for bringing this matter to our attention and allowing PennyMac LoanServices, LLC (“PennyMac”) the opportunity to review and respond to Mr. L[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. L[redacted] on September 8, 2015. Our records confirm that an escrow refund check was mailed to Mr. L[redacted] on August 26, 2015. Additional attempts will be made to confirm the receipt of the check and address all of Mr. L[redacted]'s concerns. 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. A detailed letterwill be sent to Mr. L[redacted] under separate cover.

Consumer

Response:

Review: 10796265

I am rejecting this response because:

Review: My current loan is thru PennyMac and I was trying to do a cash out refinance. Everything was fine until my appraisal came back with multiple errors(16 on 2 pages at least). Now PennyMac who ordered the appraisal won't refund the money or try to fix the appraisal that is grossly wrong including square footage errors, etc. They have no contact with me and dont act concerned whatever. All I asked was for the appraisal to be redone since it is obviously wrong and they refuse to do so or refund my money.Desired Settlement: I would like the $375.00 that I paid PennyMac for a bogus appraisal repaid since I will have to go to a different company.

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. P[redacted]’s concerns to our attention and allowing us the opportunity to respond.Upon receipt of the Revdex.com notification, our office is in the process of completing a thorough review of Ms. P[redacted]’s loan to ensure that her concerns are addressed. PennyMac is in the process of conducting a full review of Ms. P[redacted]’s concern, and will send a written response in regards to researching her concerns once the issue has been researched and reviewed.PennyMac values and protects its customers’ confidential information. Due to privacy reasons, we will refrain from posting any personal information to the Revdex.com site as we do not disclose our borr[redacted]s’ personal information.

Consumer

Response:

I have reviewed the response made by the business in reference to complaint ID 10785338, and find that this resolution is satisfactory to me.

Regards,

R[redacted]

Review: I received an invitation from Penny Mac to do a refi last year. When I contacted the company they had told me that they could lower my rate by removing the PI insurance. After the load of requested documents were sent to the company I was informed that they could not process the refi at that point because my husband had a BK on his credit report and Penny Mac told us the BK had to be 4 years old. So, I waited until Jan 2015 to re-contact Penny Mac and we still have not closed this deal. This companies follow up and follow through leave a lot to be desired. I also obtained a Home Equity last year which required a appraisal. Now California Real Estate law says an appraisal is good for 6 months. I told Penny Mac that we just had an appraisal done but they still request another. That was another $350.00 out of my pocket. NOT OK. Also, we had requested this refi be with cash out to pay off some other debts and this has been nothing but a struggle. I wish they had never sent a notice to me for a refi. This has been a terrible experience. So the latest from Penny Mac is a company that has been included on my husbands BK discharge per Penny Mac is trying to collect their debt. It has already been discharged. I provide all the discharge information showing this to Penny Mac. The last e mail from Penny Mac was asking myself and husband to sign documents allowing this refi to go through paying out $5200.00+ to a debater that the BK has already satisfied. I am not signing the latest documents. They are so backwards and do not know what they are doing.Desired Settlement: DesiredSettlementID: Refund

I want my 350.00 to be credited back to me from an unnecessary additional appraisal that was not needed. I also want to know how I can remove Penny mac as my mortgage holder. I want some kind of resolution.

Business

Response:

Thank you for bringing this matter to our attention andallowing PennyMac Loan Services, LLC (“PennyMac”) the opportunity toreview and respond to Ms. Gellerr Maloon’s concerns.PennyMac strives to provide superior customer service and respond to allinquiries in a timely manner. Attempts to contact Ms.[redacted] were made on March 30 and April 1, 2015, in an effort to discuss her concerns.Ms. [redacted] has been provided with the direct contact information for therepresentative assigned to her account. PennyMac is currently in theprocess of researching the complaint and a letter of explanation will be sent toMs. [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: On December 27, 2013, I called PennyMacs customer service line to talk about my private mortgage insurance (PMI). I indicated that I wished to have the PMI canceled; requesting information on what measures could be taken. I was told to write a letter and fax it to PennyMac, which I did immediately. Several days later I received a letter in the mail (dated January 4, 2014) indicating the loan amount needed to reach 80% of the original loan value in order for the PMI to be removed.I responded by sending a message via PennyMacs secure messaging service, asking about other alternatives, such as attaining a new appraisal that could prove my current loan amount as being at or below 80% of the property value. I received no response up until January 23, 2014, and was told at this time that I would receive communication within 5-7 business days (from Escrow Management) regarding the matter. No response has been given.In late February (on or about the 28th), after again hearing no response, I called PennyMacs customer service line. I explained my frustration and requested help. I was told that an appraisal request would be ordered by the bank and that this would be about a three-week wait. It has been four weeks and I have heard nothing.In addition to this, I have some concerns regarding my escrow account that have not been resolved and have been handled in the same manner. I am disappointed with the customer service, and just need a straight answer or a better explanation to these issues. So far, customer service has not been attentive to my needs. This process has taken three months with absolutely no results.Desired Settlement: I want customer service and a straight answer about these matters. My loan amount is under $255,000 and I believe a (conservative) bank-ordered appraisal would place the value around $350,000, indicating a loan-to-value ratio of 73%. Therefore, the PMI needs to be removed. The issue with my escrow account can be dealt with as well; however, the PMI cancellation is my primary concern at the moment.

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; however, do to the sensitive nature of the borrower’s concerns, we must refrain from providing a detailed response to the Revdex.com regarding this matter. Please be aware that our office was able to speak with Mr. [redacted] on April 4, 2014 to address his concerns. A substantive response will be provided to Mr. [redacted] upon the completion of a subsequent private mortgage insurance deletion review. PennyMac will continue to work with Mr. [redacted] to ensure that all his concerns are addressed and resolved.

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.

Consumer

Response:

I have reviewed the response made by the business in reference to complaint ID 9988451, and find that this resolution is satisfactory to me.

Regards,

Review: I recently had water damage to my house on 1/7/16. State Farm, who I have home owners insurance through is refusing to cover the claim due to receiving no payment from Pennymac Loan Services for the home owners insurance since 6/2015.

On 1/7/16,I was at w[redacted] when my son called me when he arrived at our house to tell me that the first floor was flooded.I hurried home to discover the first floor of my townhouse had about a foot of standing water(also water damaged my next door neighbor's house).I called State farm who I have home owners insurance with to make a claim, reference #794H605. They advised my adjuster will be L[redacted](###-###-####).I was able to get most of the water up,but had to leave due to w[redacted].My fiance called Ms.Y[redacted] who advised that I no longer have an active home owners insurance policy.Ms.Y[redacted] advised that I have three mortgage companies listed in my files, and that State Farm would have contacted all three mortgage companies to tell them of the policy renewal.She further advised the policy was cancelled back in July of 2015.I contacted my State Farm agent on 1/9/16 but her office was closed.I went to my agent's office on 1/11/16 in person and spoke with her,Ms.R[redacted].She advised State Farm attempted to contact me by phone,###-###-####,however that is an old land-line number that has not been active for about three years now.She also advised that she has three mortgage companies in my files,and that those companies would have received correspondence from them about the bill.I told her that I refinanced back in 2014,and the only company listed should be Pennymac.I called Pennymac on 1/12/16 and they advised that the only thing they received from State Farm was a cancellation letter for my insurance policy in June of 2015.She advised that the mortgage insurance has been paid to State Farm in the past,but they need to receive a "Declaration Page"from State Farm to continue any payments.I'm confused how my insurance was paid for a year and half then stopped.Desired Settlement: I have damages in my house that need to be repaired,and could have prevented the above situation. Pennymac paid the home owners insurance since the beginning of 2014 till May 2015.Pennymac never advised me that a cancellation letter was received from State Farm.A phone call from them advising me about this letter would have kept my policy current. My mortgage company has always paid my home owners insurance,so why would they just stop paying the insurance? I need my repairs fixed.....

Business

Response:

Thank you for bringing this matter to our attention and allowing PennyMac Loan Services, LLC ("PennyMac") the opportunity to review and respond to Mr. S[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. S[redacted] to discuss his concerns regarding his insurance payment on January 14, 2016. A detailed letter of explanation will be sent to Mr. S[redacted] under separate cover within 30 business days.PennyMac values and protects its customers' confidential information. Due to privacy reasons, we will refrain from posting any personal information to the Revdex.com site as we do not disclose our borrowers' personal information.

Review: Penny Mac recently purchased my loan from Cash Call. Despite the fact that my loan payment is due in 4 days, I have not received updated payment information from the lender. When I spoke to the representatives on the phone (Evelyn and Emily), they refused to send me information about my loan in writing, instead insisting that I would receive "a welcome letter" the next 7 days. Not exactly enough time to make a payment... They also refused to accept payment on the phone or even email me the information. Their website tells me that the loan number they gave me is incorrect. They claimed that they would not apply late fees or send my information to reporting, but seeing as Penny Mac is the same company as Countrywide (and they won't even give me a correct loan number), it's hard to take their claims with any credibility.Desired Settlement: Email or overnight mail me the loan number, payment address, payment amount, payee name, and any other information required to make a payment. Apologize for their employee's rude behavior and refusal to provide accurate and timely 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 Mr. [redacted]’s concerns.

PennyMac strives to provide superior customer service and respond to all requests in a timely and efficient manner. Upon receipt of the Revdex.com notification, a PennyMac Associate contacted Mr. [redacted] on October 29, 2013, to discuss his concerns. Please be aware that Mr. [redacted] contacted PennyMac, several days prior to the transfer of the servicing of his loan. Prior to the actual transfer of servicing date, PennyMac only has general borrower information on file that allows us to identify Mr. [redacted] and his loan; however, we are not able to service the loan or accept payments until after the transfer date and once the loan has boarded our servicing systems.

Originally, Mr. [redacted] was advised that a Welcome package was to be mailed after the loan boarded our systems; however, that information was not accurate. Mr. [redacted] was sent an email on October 29, 2013, confirming that PennyMac notices, which included payment coupons, were mailed out October 25, and October 26, 2013.

Business

Response:

PennyMac sent Mr. [redacted] the email to apologize for the lack of service he was provided.

Review: My husband and I are applying for a loan modification through Penny Mac to apply his name to the mortgage and lower out monthly mortgage payment as we had to use a considerable amount of funds to repair the home after we had previously rented the property. We spoke with Penny Mac and had obtained and sent all the information they requested multiple times. They verified my husbands credit rating, verified our employment, and our tax information. On two previous occasions, after we completed all the documentation, we were told that there was no record of us sending it, although we had gained conformation from an employee of Penny Mac stating the documentation was received. Just today, 1/12/2015, we received a telephone call from Penny Mac stating that this individual was now in charge of the loan modification and that they need the information sent to them. My wife explained that we had already completed the steps two months prior and were advised that the process sonly takes 30 days to complete. The woman representing Penny Mac; [redacted], stated that they have no record of these documents and that we would have to begin the process over again. This is the third time this has occurred. Apparently our information is being tossed all over the country; social security numbers, employer information, tax information, all of our personal information. We were advised by Penny Mac that the loan modification looks good and that it should be approved by the first of the year. However, it is now 1/12/2015 and we have to begin the process over again. I believe this is unacceptable to allow a company to represent itself in this fashion by promising to accomplish tasks so important to its customers but not follow through. I believe it is unacceptable for our information to apparently disappear from their computer system and employee files to vanish into thin air. This information is personal and can be easily used for identity theft or any number of illegal activities.Desired Settlement: We would like the loan modification to be processed immediately with retribution in some shape or form.

Business

Response:

PennyMac Loan Services, LLC, (“PennyMac”) strives to provide superior customer service and process all transactions in a timely and accuratemanner. Thank you for forwarding Mrs. [redacted]’s concerns to our attention and allowing us the opportunity to respond. Upon receipt of the Revdex.com notification, our office completed a thorough review of Mrs. [redacted]’s loan to ensure that her concerns were addressed. PennyMac confirmed that Mrs. [redacted]’s recent modification request is currently under active review and our office has been in contact with Mrs. [redacted] as well. A representative from our office called Ms. [redacted] on January 16, 2015 to discuss her additional concerns. A message was left with our representative’s contact information should Ms. [redacted] have additional questions or concerns she would like to discuss. Additionally, a detailed letter will be sent to Mrs. [redacted] with further research findings as it relates to 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 was notified by mail that my homeowners insurance had been cancelled due to non-payment on 11/24/15. I received the letter that Tuesday night when I returned home from work. I contacted PennyMac at ###-###-#### immediately the next morning (11/25/15) after speaking with my insurance company; on this call I was assured that a check would be "overnighted" to my insurance company that day and it should be received no later then Monday or Tuesday the following week because of the Thanksgiving holiday. I waited patiently and called my insurance company the following Tuesday, 12/1/15, which was supposed to be day #6 of an "overnighted" payment; my insurance company still had not received the payment and my home was still uninsured. I was told on 12/1/15 that it would be there "tomorrow." Wednesday, 12/2/15, I follow the same routine, still no payment has been received, still no insurance on my home. I call PennyMac again; on this call I am informed that PennyMac actually does not have an overnight process of mailing but instead they have "expedited shipping" which is a 3-5 day process, I am also told by an associate that my payment was actually mailed on 11/27/15 NOT 11/25/15. I am assured again it will be there "tomorrow." Thursday, 12/3/15, my payment has still not been received. I talk to multiple "supervisors" at your calling center who give me a series of excuses and lies but still no results, still no insurance. I am beyond disgusted with your company. My payment should have been made on time and when it wasn't your company should have taken care of it immediately and made it a priority rather then making me feel like a bother and that it was no big deal - it IS a BIG DEAL! I have been lied to multiple times by several different "employees." I have gotten so many different lies it makes my head spin. I have tried being nice, I have tried by mean and yelling and crying - still no results. Your company is a Scam - A JOKE!! I am highly unsatisfied with the service I've receive!Desired Settlement: I want to talk to a person who is actually in charge with your company, not a "associate" or "manager" of the call-in center. I want to be assured that this will NOT happen again. I want my insurance to be paid by today. I expect cooperation when I refinance my loan.

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. S[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. S[redacted] to discuss her concerns regarding the insurance payment on December 7, 2015. A detailed letter of explanation will be sent to Ms. S[redacted] under separate cover within 30 business days.PennyMac values and protects its customers' confidential information. Due to privacy reasons, we will refrain from posting any personal information to the Revdex.com site as we do not disclose our borrowers' personal information.

Review: My house and one other property are paid once a month to PennyMac, there are two checks made out, one to each property, I am set up to make payments through Chase online bill payment. I call Chase and they make two checks out to PennyMac and mail it through the Postal service, Chase mailed the two checks to PennyMac with a send date of 11/04/15 and an expected arrival date of 11/12/15, the payment is due on the first of the month with a 15 day grace period. I next receive a letter from PennyMac dated 11/17/15 notifying me I am late, and then another letter dated 11/20/15 that we owe a $39.60 late charge for payment received after the grace period. I call PennyMac and discuss the late charge with them, and get no where as to reversing the late charge. My complaint is both checks were sent by Chase on the same date and PennyMac received one and posted it on the 11/10/15, and received one and it posted on the 11/20/15. Even though I have documented paper work that the checks were sent they will not admit that there could be a mistake on there processing end. One would think that since I have documents that both payment checks were mailed at the same time, that the chances of a mistake on the postal end would be very rare, and that would be enough to make a case for reversing the charge and JUST maybe an, I'm sorry for wasting all your time Sir. Regards: R[redacted]Desired Settlement: I would like the late charge reversed.

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. B[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.

B[redacted]’s loan to ensure that his concerns are addressed. On December 3, 2015 a

PennyMac representative called and spoke to Mr. B[redacted]’s to discuss his concerns.

It was discussed the payment options as well the late charge was waived.

PennyMac will send a written response in regards to researching his concerns as

the issue has been researched and resolved.PennyMac values and protects its

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

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

borrowers’ personal information.

My loan was recently transferred from Bank of America to Pennymac while I was in the process of selling my house and in escrow.

I was told by Bank of America that I would not have any issues and that Pennymac will take over on July 2.

I am scheduled to close today on July 9th, and for the past week, I have been trying to get my payoff info so I can close.

I have been told that they cant help until July 10th because they have 55000 new customers, I have been told to call and ask for this person if you dont have it by 9am, I have been told I would have it numerous times, I was told someone would call me back in an hour, however I have been told lies.

I am moving from FL to IL with a VA loan and my sale in IL depends on this closing. I have a family involved and pennymac is interfering and could potentially leave us homeless. If they cannot handle the business they need to get out of it.

Review: PennyMac mistakenly paid our VILLAGE taxes to our TOWN. Even though the town refunded the extra taxes, PennyMac refused to pay the VILLAGE taxes. We only became aware of the delinquent taxes when we saw our home listed on the notice of TAX LIEN SALE on the village web site! Even when our home was up for auction, PennyMac obfuscated, kept me on hold and had me speak to over 15 different representatives. They gave me a tracking number for a check that was never sent! In three hours our home is set to be sold and even though we have the money to pay the taxes in our escrow account (in fact, according to PennyMac our escrow account has EXTRA money in it!) we have to find the money in our bank accounts or borrow it from family or friends to pay the taxes.Desired Settlement: I would like PennyMac to send us the money from our escrow account to cover the cost of the taxes ($1,316.38) AND I would like PennyMac to cover the cost of the penalty for the deliquent taxes ($118.47).

Business

Response:

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

superior customer service and process all transactions in a timely and accurate

manner.

Thank you for forwarding Ms.

[redacted]’s concerns

to our attention and allowing us the opportunity to respond.

Upon

receipt of the Revdex.com notification, PennyMac completed a thorough review of Ms.

[redacted]’s loan. Our research indicates

that PennyMac received Ms. [redacted]’s request to pay the Village taxes on May 16,

2014. After verifying with the Sleepy

Hollow Treasurer on May 23, 2014, that the village taxes remained unpaid, funds

were issued from the loan’s escrow account to pay the outstanding village

taxes. In order to expedite the payment

to the Sleepy Hollow Treasurer, the check was scheduled to be sent via Federal Express

overnight delivery; however, due to an internal processing delay, the check was

not processed and sent as scheduled. As

a result the Village taxes remained unpaid until they received Ms. [redacted]’s

payment on May 28, 2014.

PennyMac

advanced funds from our corporate account to pay the penalties and interest due

to Sleepy Hollow Village for the late tax payment. As Ms. [redacted] paid for her

taxes herself, a wire, was deposited into her bank account on May 30, 2014. This wire included the reimbursement for the

taxes and penalties she paid to Sleepy Hollow Treasurer, in addition to a bank

wire fee. Lastly, our system has been

updated to ensure future tax payments are disbursed to the appropriate payees. Ms.

[redacted], confirmed during a telephone conversation with PennyMac on May 30, 2014,

that her questions and concerns had been addressed.

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 raised our mortgage payment from $950 to $1,339.61 about $400 in total more than we were paying. We have a fixed va loan at 3.375%. I've called them to complain about the issue and the told me it was the county fault, once I spoke with the county they stated it was pennymac and they are over charging us. She even sent in paperwork on our behalf to prove it. We are not the only family with pennymac who's mortgage went up an estimated 400 dollars yet the loan companies in this same area did not spike up. Pennymac is saying they under charged us and now they have to over charge us but when you ask how this happened or ask for more information they try to confuse you. I spoke with another mortgage company and she stated maybe a 50 to 100 increase makes since but not 400. We can't afford to live here at this rate. Why must we suffer for a mistake they made?Desired Settlement: For them to lower our mortgage payment back to $950 where we can afford it.

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. V[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. V[redacted]’s loan to ensure that his concerns are addressed. PennyMac willsend 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: I In mid June 2015 I received a letter from my homeowners insurance co that my insurance had not been paid. I contacted pennymac that day to find out why they hadn't paid my insurance from my escrow account like in years past. they said that they decided that they were not going to pay it any more. when I asked them when they were going to tell me I got no answer. then they said that they would set things up again so that it would be paid. (this was after a long time on the phone and being transferred several times from on person to another). I then contacted my insurance company to let them know what was going on . On the 29 th of June I contacted my insurance company to find out that they still had not been paid. I arraigned a payment with them but for some reason the payment did not go through before the insurance company canceled my policy. I did not learn about this until mid July. At that time I got insurance from another insurance company and informed penny mac. I received my mortgage statement today from penny mac and see that they made a payment to the closed insurance policy. I called them today and found out that they not only paid the closed account on 7/9/2015 that on 8/7/2015 they paid my new insurance company. I am trying to find out where their checks and balances are. I asked about them getting the money back that they paid to the closed account and they said that I would need to do that. another words I have to fix their mistake. I called the insurance company and they say that a payment was never received and if it had been it would have been forwarded to me. further investigation meaning the insurance company calledpennymac on my behalf and in the end found out that the check that they say was sent has never been cashed. Now pennymac says they are going to start an investigation to find the check. In the mean time I am out a lot of money. I have spent many hours trying to fix the problem that was caused by pennymac and I am fed up with it.Desired Settlement: I want A full refund of the money that they seem to have lost and I want them (pennymac)To pay me for all of the time and lost sleep that they have caused me (&25,000). I also want my escrow account back to the way it had always been paying the taxes and insurance. I do not want to be charged for any shortages in the escrow account because they caused the whole problem. I want this problem fixed . I have never been late with a payment I don't know how they can treat their clients so bad.

Business

Response:

Thankyou for bringing this matter to our attention and allowing PennyMac LoanServices, LLC (“PennyMac”) the opportunity to review and respond to Mr. R[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 contacted Mr. R[redacted] on August 24, 2015, to discuss his concerns. PennyMac is currently in the process of researching the insurance premium payments from Mr. R[redacted]'s escrow account. An detailed letter of explanationwill be sent to Mr. R[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: 1/12/2015 - Closed on new construction.1/26/2015 - PennyMac purchased loan2/09/2015 - Requested amount required to pay down principal to remove PMI2/10/2015 - Instructed principal must be less than 80% of the sales price2/15/2015 - Transactions submitted to reduce principal to 75% of the sales price2/15/2015 - Requested removal of PMI based on reduction of principal to less than 80% of sales price.2/17/2015 - Charged PMI2/21/2015 - Re-requested removal of PMI and refund of PMI2/25/2015 - Told that the request has been submitted and written communication would be received in 7-10 business days.3/21/2015 - Still No communication from PennyMac. PMI charged again. Re-contacted PennyMac insisting removal and refund of PMI.3/23/2015 - Contacted and told that now a BPO or Appraisal was Now required. 3/31/2015 - Replied stating this was unacceptable as I was told on the phone (and have been multiple times since) that since this was new construction and the appraisal was current, it would suffice as long as the request was within 90 days (which it was).What follows are a series of phone calls to PennyMac where they promise to personally look into the situation and get back to me by a certain date. Then they don't, the latest:6/5/2015 - After a lengthy call with "S[redacted]", extension 8621, she apologized for the situation and promised to call me on 6/9, "giving her word". To her credit, she did call back on 6/16 (as opposed to previous representatives), but absolutely nothing had been done to progress the matter.Multiple times I've been told the original appraisal was sufficient (within 90 days), multiple times I've been told it will be taken care of and yet I keep paying.Desired Settlement: Removal of PMI on my account, per my request on 2/15/2015, with the principal less than 75% as of 2/16/2015. The original appraisal for the new construction home (1/12/2015), which PennyMac had in their possession at the time of purchasing the loan on 1/26/2015 should be used as I was told it could be as it was within their 90 day guidelines.In addition, refund of all PMI paid since this time, as of 6/19/2015, $687.

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. C[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. C[redacted] on June 26, 2015, to discuss his concerns there was no answer on the telephone number for Mr. C[redacted]. PennyMac will respond under separate cover to address Mr. C[redacted] concerns. PennyMac values and protects its customers’ confidential information. Due to privacy reasons, we will refrain from posting any personal information to the Revdex.com site as we do not disclose our borrowers’ personal information.

Consumer

Response:

Review: 10679093

I am rejecting this response because:I received no phone call from Pennymac on the date they indicate.I also received no voicemail. I have previously received voicemails and if they did call I would expect them to continue to leave one. Most importantly, this response provides no resolution of the open issues!

Review: escrow account discrepancy / late paymentDesired Settlement: update account to show no past due payments adjust escrow account, I have bank statements 1/1/2015 -7/14/2015 to show payments made every month on time. Along with correct flood, homeowners policy amounts along with current property tax amount due.

Business

Response:

PennyMac Loan Services,LLC, (“PennyMac”) strives to provide superior customer service and process alltransactions in a timely and accurate manner. Thank you for forwarding Mr.L[redacted]’s concerns to our attention and allowing us the opportunity to respond.Upon receipt of the Revdex.com notification, our office contacted Mr.L[redacted] on July 20, 2015. PennyMac is currently in the process of completing a thorough review of Mr. L[redacted]'sescrow account to ensure that his concerns are addressed. PennyMac values and protectsits customers’ confidential information. Due to privacy reasons, we willrefrain from posting any personal information to the Revdex.com site as wedo not disclose our borrowers’ personal information.

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Description: MORTGAGE LENDER

Address: 6101 Condor Dr Ste 200, Moorpark, California, United States, 93021-2602

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