PennyMac Mortgage Review

My one star is almost for nothing, they are terrible in receiving calls, keep repeating same thing over and over again, making me pay double my Morgage due to their mistakes, paid insurance that I had no idea of then demanded I get another insurance with wind, hail, and storm my question was what were they paying for, whom did they contact? ok I went a head and got a new cheaper insurance and reliable, now its a problem to get to the other insurance for refund?? someone said it was denied? by who, why and under what circumstances??? It has been so hard to talk to someone who understands and able to explain what the Hell happened with the unexplained increase of Morgage?? They are so stressing and unable to accept their mistakes or else answer questions straight.

Pennymac pulled my mortgage 2x in August (30 and 31) and I am struggling to get a return their in a timely fashion. This is my VA money. I have been asking for my money back and have been getting the run around. And them dragging their feet. Now they’re saying 14 business days!! This is completely unacceptable and causing excessive financial strain on my family and myself.

Dont bother trying to contact them. They don’t respond to messages on the website or emails directly to who you are working with. I reached out this year to get my last name changed as I legally changed it and have heard nothing back.

Would give 0 stars if I could. I have a mortgage with PennyMac. It is a 50/50 split between me & the person I purchased the home with. Last year, they only paid 50% of the taxes (an error they claim my county made by not sending them the other half of the bill). Regardless of who is at fault, you would think that the PennyMac employee looking at my account would have noticed a DRASTIC change in county taxes compared to the year prior. No. They did not. They proceeded to issue me a SIGNIFICANT $3,000 refund. In addition to this, when they ran an escrow analysis, they LOWERED my monthly payments by over $100. Two months later, I have collection agencies calling me and receiving delinquency letters in the mail from the county. I called PennyMac and they realized their grave mistake and paid the taxes. A new analysis was never ran, never asked for that $3,000 back, and they continued to charge me LESS than needed to cover the next years taxes. I thought that everything was handled on their end and never knew any of this needed to be looked at again or I would have asked for an out of cycle escrow analysis. Fast-forward to this month, I receive my "New" mortgage payment. This new payment is an $1,200.00 INCREASE from prior months and years. They refuse to admit they made and error and are charging me an ungodly amount each month, even after I gave them their refund money back! They will not work with me at all to admit their fault in this and are refusing to help me in any way. Completely forcing me to pay for a mistake THEY MADE. So, now I am struggling to make ends meet because PennyMac completely dropped the ball and there is nothing they will do to fix it.

Just right off the bat, stay far away from PENNYMAC loans! They just hiked my monthly payment up $100/month for insurance rates and taxes going up $490 more this year and just states that they have to get the money back from last year as well! Run from this company, as far as you can!

Horrible greedy company. My mortgage was late by two days and was charged $168.00.This company holds your escrow money and tries to not release it to you.l would not recommend them to anybody.

Buyer beware!!! Pennymac made this the single worst experience of my life and if I could give them 0 stars I would!!! During the refinance the inspector said he found a "mold like substance" in the bathroom and said my house paint might have lead due to age of house, neither of which could be verified since he "doesn't have the training or equipment to test." So we went round and round over which repairs needed to be prioritized for an escrow holdback to be done. During a three way call with the construction company the loan officer said that the "mold like substance" needed to be addressed for the loan to move forward which was subsequently done that day. When I sent the pictures, they then said I was only supposed to clean the walls not tear out the drywall and so again they denied me saying that I needed to complete ALL of the repairs before I could get the loan (which was why I was getting the loan in the first place)! Then it was that the bathroom needed to be livable for the loan to move forward so I borrowed money for them to finish the bathroom, which again wasn't good enough. And to top it off, every time I called and spoke to anyone other than my loan officer they were very condescending to me about the status of the loan with one officer flat out lying to me that they needed the license and insurance number on file per FHA guidelines before the loan can move forward (I confirmed this wasn't the case with the inspector, that they didn't need to provide one, only that the work is done correctly). And after all the the hoops they made me jump through, they ended up denying me saying that ALL the repairs weren't done. Now due to this I'm having to sell my house for not completing the repairs that I was borrowing the money for in the first place.

Have tried multiple times to create an online account via the PennyMac website, but keep getting error messages. They're "customer service" is literally non-existent.

What an absolute POS, garbage, low grade app and site interface. I can type in my login information and it works once and then never again.

Horrible, they called me and in the middle of talking with them for less than 2 minutes, the guy named Donivan says thank you for time and just hangs up. This company customer service is horrible.

They paid the wrong insurance carrier (Orion180) after we had switched to another carrier, whom they also paid, and now want to double my monthly payment due to Escrow shortage. Uh, nope, you guys paid Two(2) policies. I have spent way too much time trying to get this resolved after more than a month of trying. Trying to get resolution is almost impossible because it's almost impossible to talk to a live person. Looking to refinance at this point.

PennyMac HAS to tut their own horn, the are NOT 5 stars as they want you to think. PennyMac is holding on to our insurance money, it’s bean over 3 weeks. Now we have to show what has bean repaired, from hurricane Ian.!

Helped me get caught up with covid and put a lein for what I was behind. Failed to tell me my interest rate would over double. So their help was to forgive and put a lein what little I was behind but increase my payment by $200 to cover the new 6.8%interest. Up from 3.1% way to take care of veterans struggling with covid and inflation....smh found this out after they swindled me into this debt help.

I've had a mortgage with PennyMac for two years. They are an excellent service, always looking to provide me the best rates. I recently reached out to them to take an equity loan. They were very patient throughout the whole process, explaining what documents I need, and we got the loan approved! I feel very safe in PennyMac's hands for my mortgage needs.

I paid my mortgage on the 30th, ONE DAY EARLY because the 1st was on a weekend. They filed it as an extra payment, put in a missed payment for that month and my credit took a huge hit. This company is FRAUDULENT.

My house caught fire 12-22-22. Penny Mac insurance had my insurance check, builders damage assessment and repair paperwork and contractors information to send money for repairs end of March 23. Here it is now May 23. Each time I call them to get status of paperwork and repair money sent to contractor, I get the same crap. Some foreigner I can hardly understand, put on hold for more than 30 minutes, and oh we're sorry, but your missing paperwork. I have emailed, sent through the website, and physically mailed them the required paperwork 3 times. Last Thursday, I finally got a response from the resolution team stating my paperwork was in order and they would overnight a partial payment to the contractor. Today, Monday 5-1, no check. I called them back and was put on hold for 56 minutes. They informed me I'm still missing paperwork and there is no notes or information on last Thursdays call with regards to paperwork or them mailing a check. I asked to speak with a supervisor and was put on hold for another 36 minutes. No supervisor available, they will put me on a call back list, 24-48 hours. There is no customer service with this group. It is a joke and unfortunately I'm stuck with this shiite. I want my house rebuilt. Useless front line people on the 866 call line.

Terrible customer service, i need info on my paid off loan for my taxes 2021, they won't give me the info and their automated phone system just goes in circles

DONT TRUST PENNYMAC!!!! ALL THE DO IS LIE!!!! CONSTANT ISSUES FROM BEGINNING AND NOW HOLDING OUR INSURANCE MONEY WHEN TRYING TO FIX HOME 6 MONTHS AFTER HURRICANE IAN!!!

PennyMac, via their 'autonomous' 'insuranceclaimcheckdotcom', received a 'settlement' check from my insurance company in September 2022. In October 2022, they released 40% of the check to my attorney's office for their fees. They show on their website that the funds were released to me. I have contacted them repeatedly and received false promises that they would look into it. To date (almost six months later) I have received NOTHING to start repairs on my home. The insurance company has withdrawn from my state and, because repairs have not been completed, I have no insurance. DO NOT trust this company to be responsive or truthful in dealing with you.

If I could give zero stars I would. They have been taking double payments out of my account for three months now after recording me and telling them to stop immediately. I am currently looking to refinance they are crooks

Pennymac erroneously paid property taxes from escrow on a mortgage that had been satisfied back in mid-December. We have still not received the refund even after multiple contacts. They have kept/used our money for 3 months and it's still sitting in the escrow account. I would suggest telling your lender to absolutely not sell your mortgage to these crooks.

Fraudulently, charging 3726.00 fee for not having home owners insurance when the company was responsible for making those payments via escrow. was not notified my coverage was canceled until 6 months after it was canceled.

f I could give them 0 stars I would. I dealt with no less than 10 people and screw ups and delays every step of the way! Toward me I needed 10k at closing. The night before at 8PM, they said I needed 17k. After I signed all of my documents and “closed”, they called me and said I need an additional 3.5k. They just push blame on others and have ZERO accountability for how their lack of follow through and communication makes it damn near impossible for the average buy to get through the process.

Have had increases due to taxes 3 years in a row...which NEVER happened when I was with Rocket Mortgage (for over 10 years!). Most recent increase was $200/month. It's always due to "taxes", but their record keeping is deplorable. Have tried multiple times to create an online account via the PennyMac website, but keep getting error messages. They're "customer service" is literally non-existent. HORRIBLE COMPANY. DON'T WALK...RUN AWAY FROM THIS MORTGAGE COMPANY!!!

I have been trying to get an assumption loan for two months and have gotten nowhere. Have sent in all documents over 8 weeks ago. And get no response. When you call they say a loan officer will reach out to me by the next day, but they never do. Will never use this company again.

My mortgage Broker sold my mortgage to this company, they are the worst, but I guess I didn't have a choice. Don't use them if you can. Endless phone transfers and never get a helpful person on the phone, slow to send correspondences/emails. Neighborhood was re-drawing lines and Pennymac refused to sign the new PLAT, no explanation, they don't want to work with you as a homeowner. If interest rates weren't so high I would just re-finance out of principal.

First of all…. FIVE STARS to Karla H. in customer service!!!!! ⭐️⭐️⭐️⭐️⭐️ We were having some questions/ concerns with our homeowners insurance policy, she patiently waited on us, spent almost an hour with us, guiding us, and walking us through the procedures that we needed to take to correct the situation! Absolutely positively amazing customer service from Kala H! She definitely went above, and beyond to make sure that we were completely satisfied!!! Thank you so much, Karla!!!!!

Somehow they managed to completely mess up my escrow assessment and have my winter taxes $2000 over what they really are. I noticed it when my monthly bill was $300 more than usual. When I called I was told oh well your taxes went up. Anyone with any common sense would have seen an increase of $2000 as suspect. I hung up reviewed everything and got all documentation together and called back. I was told oh well we will review it. It will take several days. I have lost all trust in PennyMac

Pennymac is a den of deceitful liars. I did a deferment with them for one month, i was told I had to do two months, which was about $2200. Here I am selling my home a few years later and its now $3977! I was never informed of any intrest charges!

I would very much so like to know why my mortgage payment shot up 218$ a month all of a sudden. Some bs crap tastic mail came to me from your company and it just seems like fodder. Be honest, what’s the real answer! Your company has been nothing but garbage to me and we have NEVER missed a payment let alone late after all these years. And this is the SECOND time your company has tried to sneaky back door us with made up excuses for increasing “fees.” The last time you sent us a letter that stated we needed to increase the amount our home was insured for and if we didn’t respond within 90 days you were going to automatically bill us for the difference for a second insurance policy to cover the “gap” and the amount extra you were going to charges us was absurd! I’m lucky my wife thoroughly read that letter and the fact we were able to get an increase insured amount through our own insurance company EVEN though the annual policy adjustment period for them was closed. And it only cost us 5$ more a month to include the new required amount! Not the hundreds of dollars a month extra you were going to charge. The second our inflated market crashes and interest rates go back to normal I will be refinancing our home with a new company, anyone has to be better than your company. Your company has become my biggest regret. I will certainly never refer you to anyone else. I wish I was smarter so I could sue you for all the bs your company tries to pull. Your company is what’s wrong with this country.

Unbelievably bad customer service. I'm a Military veteran and have been around for 62 years and I thought I'd seen it all. Pennymac provided me with a forbearance on my mortgage for 3 months during Hurricane Ian. My house flooded and I spent $30,000 in repair work so it was a relief to be able to hold off on mortgage payments. When I first spoke with a rep about the forbearance it was my understanding that I could repay the missed payments over time. After the 3 months, I called to find out what my payments would be and the term. Basically what I got was a debt collection spiel and the runaround and someone was supposed to call me back. Never happened so I called again after 3 weeks and same collection spiel and I was told I needed to pay all 3 months back immediately. I asked to pay it over 6 months which would be a payment and a half each month and was told no. WHY ON EARTH WOULD I HAVE A FORBEARANCE IF I HAD TO PAY IT BACK RIGHT AWAY. THAT DOESN'T HELP AT ALL. They finally presented me with a 3 month option which I accepted but still puts me in a tough spot to come up with double payments each months. Damn heartless!

Absolutely terrible! The bank sold my loan to PennyMac and nightmare begins. Their website is not working, impossible to log in. I tried over 100 times. I spend hours on the phone with tech support. I request an auto payment, that does not work ether. The only way I am able to make payments is ON THE PHONE. Every month, I have to call 800 number and make a payment. Unbelievable.

We attempted to apply for a PennyMac Home Loan refinance. We went through all the hoops providing more financial information that was necessary when we first secured our VA loan. This company representative claimed that the loan process was in the final stages of completion. Approximately two and a half weeks later my wife called inquiring as to the our loan status to find out it was disapproved. No one ever contacted us as all the primary representatives were on holiday vacation. I would seriously disregard any attempt to do business with this company. In my opinion, they are less than professional and, as most mortgage lenders are, out to make the most money possible.

PennyMac is take extra and double payment from my account that I didn't authorize. Please don't use pennyMac for your mortgage loan. My mortgage loan was sold to them by my previous lender which I am not pleased with. The worst thing is when you call for answer why unusual activities going on your account the call is being answered all the way to Indian

...Continued. After my initial review and reaching out to some of the PennyMac Executive team, I had a member, two members of PennyMac reach out to me to help find a resolution. I thought that there was light (hope) at the end of the tunnel. In my position as an Executive Recruiter, it’s been challenging to find a new role even with 825 contacts on LinkedIn. Now that companies are ending the fourth quarter, they do not want to add an additional payroll to their bottom line. From a business perspective, I understand. From, I have 4 children, 7, 4, 2, and a 3-month-old baby it's extremely scary. Irvin from PennyMac reached out personally and said he was going to work on a solution. I cannot express in words, how that call put my mind at ease, as I was frantically trying everything I could to find ways to make ends meet since my first application for mortgage relief was denied due to my getting $397 a week from unemployment. My company moved my department to the Philippians and just said "good luck." After speaking with several representatives, one actually had the audacity to say "well, you get some money." The blatant rudeness caught me off guard, and I was furious. But stayed professional even though their employees have no idea what that means. I truly thought that I was going to finally have the comfort of assistance from PennyMac. After all, if you've ever called them while on hold, it even says "If you are having financial problems, we're here to help." Nothing can be further from the truth. Back Irvin, ext. 28249, never called me back, nor did he return the 4 voicemails that I left on 11/02, 11/10, and 11/14 because my payment was due the next day and I needed a response to manage anything I could to ensure my payment was received. Not to mention that my payment jumped from $1019 to $1250 a month. Then once again on 11/16, I had no choice but to rush, find a way, and make my payment. And to add insult to injury, I was charged a late fee. I receive calls from PennyMac daily with an automated message "You need to call PennyMac, to discuss your account." franticly hoping that Irvin found a way to assist. All my calls were ignored. My Aunt just passed away. Her funeral was on Friday, 11/18. My mother had a severe stroke, and I had to find her a long-term acute care facility while trying to find ways to please PennyMac because they have no problem putting your home in foreclosure when not only the company but Irvin himself called and said he was here to help. This is the worst feeling I've ever had, knowing Christmas is right around the corner PennyMac is calling me every day, and the only payment I was not able to make was in September due to their representative telling me "Don't worry." Everything is going to be okay." DO NOT TRUST PENNYMAC! ALL THEY CARE ABOUT IS TAKING YOUR MONEY. NO MATTER YOUR SITUATION AND WHAT THEY CLAIM TO DO TO HELP ASSIST "in every way we can." What is said verbatim. It is so disheartening being lied to being, put through what I have had to endure with PennyMac, and having my family suffer because of them. I am not asking for any handouts, by any means or to play the victim role. I have never missed a payment, nor have I been late. I am actively searching. I had two potential leads for a new position which is a godsend because once again PennyMac is calling me an everyday day to "discuss my account." Not Irvin, as he said he would. To reiterate, return the 4 voicemails I left, and I have no problem sending a screenshot ( I will attach them if I am able.) I was truly hoping that PennyMac was going to do the right thing and help as they claim that's what we're here for, if needed, to relieve some of this overwhelming pressure I have on my shoulders. Once I am back to a situation where I can refinance with another mortgage company, I AM, and anyone out there DO NOT CHOOSE PENNYMAC TO BE YOUR MORTAGE COMPANY OR THE THEM CON YOU TO REFINANCE WITH THEM. At the end of all this. I hope this helps someone out there, either in the same situation or thinking about doing business with them. Just another big corporation not caring at all about their customers, who are making sure that their families have the best Christmas they can provide from our hard-earned or even desperately scrambled money to make sure they're paid. They have no problem foreclosing on your home on Christmas. And for those out there that this has happened to, my heart goes out to you and your family. I did want to and thought I was going to give a POSITIVE follow-up response to my previous statement (review). But once again PennyMac just tossed my family and me to the wayside without any regard for the impact this would have. My goal is to hopefully write a positive review, and say they do actually care. Christopher W Chagman 11/29/2022

The absolute worst. Told me it way MY FAULT they paid the wrong insurance company, wouldn't even give them 1 star.

Worst experience I have had with a loan company in my life. Rejected an escrow deletion request. I should not have an escrow requirement. PennyMac bought my loan on Oct 17 from the originator I closed with on Oct 3. I had and 80/20 LTV. The rejection letter said; 1) LTV is not met 2) Taxes are due next month. No data, no justification, just supposition! Through the relay phone calls it is stated the appraisal of the origination loan did not meet the sales price. I sent them proof of the appraisal. Oh, the story changes >We don't accept (meaning they make up their own appraisal value) I ask for actual explanations. They have a message center. Days go by, I open todays message. The same stupid Escrow Deletion Denial letter from couple of weeks ago! There is no name, no title, no phone number. Signed the PennyMac team. Disgusting. Well, I'm done. Filed a complaint with the Michigan AG through the Dept of Insurance and Financial Services. They can explain there lack of cooperation and crap service to them! Hate this company The glorified escrow department will not communicate with clients! Have to have relay conversations through whatever customer

Your not helping me alleged degrade my reputation…accusing me as a bad creditor …check my payments before accusing me i have 16 checks start from august 2021 up to november 2022…my error i paid my mortgages twice at the month of february…that is for march 2022…considering that you will fixed it …instead you shouted to the whole america that i am a bad creditor…how can you build again my reputation..Pennymac

I inherited my Father's house/mortgage. PennyMac Spams you non-stop through email, paper mail, and phone calls. We're talking at least once a week you'll get multiple spams from them. I've told them multiple times (literally told them on the phone) I'm not wanting to refinance, buy another house, or anything else and to PLEASE remove me from their spam listings. They don't stop. Now, we're trying to do a qualified assumption (move the loan to the buyer). It's been several months, and no one wants to help. It's disgusting how they spam you for their business, then when they get business, they ignore you! My home is through Navy Federal Credit Union, and I've had them for 9 years. I've never once been spamed by them, and when I do have questions/issues (such as escrow), they are always fast and helpful. DO NOT get a mortgage though PennyMac!

Horrible company to work with, would never use them again for any type of mortgage lending.

How PENNY Mac destroyed a family and has no remorse when you need assistance. I am not an employee, but this was the only way to write a review. In August my company took my department and moved it to the Philippians. Which left me stranded. My wife and I just had our baby on Aug. 2nd, so you could imagine my concern. I reached out to Penny Mac immediately! I was told to fill out a mortgage relief application and that everything was going to be okay. My first mistake, I trusted them. I lost my position on Aug. 25th and already made my Aug. payment, so of course, they were more than happy to take my money. I filled out the application right away, called again, and made sure I had all the documents required for my application. I applied for unemployment, but that took weeks to go through and when it did, I received $397 a week. I called Panny MAc once again, on Aug. 9th, because I was, 1. Concerned regarding my payment, because I had no income and 2. I wanted to make sure this would not reflect on my credit. I have never missed any payment, nor have I been late. I was told "We have your application, and we have all the documents we need. Don't worry about it. Everything is going to be okay." I have a family of 4, with the new addition, so it certainly put my mind at ease, because of course, I had so many other things to worry about. How am I going to get groceries for my family, how was I going to get diapers, and formula, keep my lights, and gas on? How am I going to pay my insurance? But, the representative I spoke with, on that end, made me feel so much better. Now, my application was denied because I collect unemployment and receive $397 dollars a week!? Not only that but, oh by the way you owe us for September and October now. I was absolutely floored! Of course, I made my payment for October because I'm not someone that just sits around and expects everything to be done for them. I was in need of help for 1 month and they couldn't care if I lost my house and my family of 6, including myself was put out on the street. Unbelievable. If the term, snake in the grass ever applied to anything, it's Penny Mac and what they have done to me. They say, on the recording while you're on hold, "If you're having a financial issue, not to worry, Penny Mac is here to help." If you have ever called, I'm sure you heard the same thing. When I call and finally get someone on the phone, they're either rude or have no experience in what they're doing at all. I just got off the phone with them again, their response was "well, there's nothing we can do for you." WHAT!!!! If I was told, in September, when I called that the application has a chance will not be approved, and if you can make a payment somehow for September, I would suggest it if you can. How in the hell can I be expected to pay anything with no income? The supervisor I spoke with, said "well, "there's nothin I can do, but I can request to pull the call." What professionalism. "Oh, and by the way, your payment went up $230 a month, with no warning at all. The supervisor asked, "Well, did yo taxes go up?" How the hell should I know, my mortgage company" I am in total disbelief at how a company can just so cold hardly leave you out to struggle and just make sure you give us our money. DO NOT REFINANCE WITH THEM! DO NOT USE THEM AS YOUR MORTGAGE COMPANY. I really hope this gets to someone and someone in this company decides to do the right thing. But sadly, it's not. Because all their concerned about is getting their money, not about their customers, loyal customers. They left me, the loyal customer to just fend for myself and my family.

Absolutely terrible. I can't begin to tell you how many times I've been told wrong #'s and false information about my loan ever since it was transferred over to them. Cross your fingers you don't get pennymac

I got my mortgage through Veterans United it was then transferred to Pennymac. Pennymac has done their job of administrating my VA loan so far, but they constantly bombard me with robo-calls and emails multiple times daily. I did not choose them for my loan and would NOT recommend them. Doing business with them is definitely not worth the robo-call harassment.

When I first spoke to Derek Esterberg he told me I needed to put down a deposit in order to lock my rate in and that it’s the same amount as the appraisal but then he told me not to worry, I wouldn’t have to get an appraisal due to the very low LTV, my deposit would go towards my closing costs. But later I was told I would have to get one and an appraiser called me every single day after that even though I hadn’t even agreed to the loan. After Derek told me he could give competitive pricing on closing costs he quoted me $8,000 and then on paper it was over $10,000. When I confronted him about the “competitive” pricing he cut the closing costs in half without changing a single item on my loan, which told me he thinks I’m someone he can rob. He had zero respect for me in the first place, either as a customer or even as a person. My cash out amount was only $45,000. Why would I pay nearly 25% in closing costs, on top of a higher interest rate than what I already have, to some A-hole that disrespects me at every turn. I don’t need the money that bad. Then I get pawned off on the underwriter who also acts like I’ve already signed my life away, but can’t help me with any of the problems I have with Derek, nor can she even transfer me to him so I can tell him what a POS he is. This company sucks. I have a loan with them now from a while ago but I’ll be leaving for another company just on principle. I don’t do business with companies that have zero respect for current or prospective clients.

The worst customer service imaginable. They are a NIGHTMARE! Trust me, stay far,far away if you can. I am dealing with them concerning Covid 19 forbearance. It has been hellish. And I took my mortgage out with a local East Coast bank. How did I wind up with these basta*ds?

This is a criminal company. After reading through all of these complaints I fully agree that it is the most corrupt company I've ever dealt with. I won't get into the details, however, this company has caused the past several years nothing but hell for our family. After wrongly charging additional costs for insurance, we were able to prove that we had the insurance through the hoa. After months and months of them continuing to pull the money, we took them to court and won. PM, was found guilty of insurance fraud at a federal level and ordered to return the money. Which they only returned a small portion. After 6 months, they tried to foreclose on the property. The mortgage was paid, money taken on auto pay every month, never late. They took the mortgage money, but didn't apply it towards the mortgage but instead put it in a different trust, then claimed they were going to circle for non payment. Doing research, they own their own insurance company. Reviewing who they are? watch The Big Short. It's the same guys and created the interest only loans that caused the crash. And conveniently in 2008, they created pennymac from countrywide and claimed to salvage people in distress. Their second scam? Insurance fraud. I'm hoping, when this story ends, to ensure that this company gets exposed again for the lives they've destroyed. I'm so sorry for all of you that has experienced their hell.

Working with PennyMac was easily one of the worst experiences I’ve ever had with a company. This isn’t our first mortgage and PennyMac holds our first mortgage because it was sold to them, that made me think this would be an easy straight forward process. At first it was great, our loan officer, Nestor, was awesome to work with. In my opinion he was dishonest about the rate lock and refused to go back and listen to the call but overall he wasn’t bad to work with. The moment our file went to processing to Latrice Autry the nightmare began. She never knew what was going on with our file. She straight up did not know how to do her job, couldn’t answer questions, couldn’t explain things to us. We had to tell her the same thing 4+ times, everything Nestor was told, she wasn’t tracking any of it, it was like starting over from ground zero. She asked for the same document 2 or 3 times. She never had answers and was incapable of communicating effectively with us and the other parties involved. We asked for a new loan processor 3 times and never even got a response regarding that. She stopped communicating with us and sent us a notice that PennyMac wouldn’t be working with us anymore after going through the entire appraisal process and everything. I still don’t understand why this happened, she wouldn’t explain it and just ceased communication. She deserves to be fired by PennyMac, she is incapable of doing her job. Thank god for a capable local lender for saving us.

The worst customer service experience ever! May God bless us all who have to deal with them! They messed up my escrow and I am dealing with miserable people everyday trying to get it fixed.

Absolutely horrible customer service (that is if you can get anyone on the phone there) and you better watch this company closely they will screw up your account big time! Employees don't speak english and have little disregard for their customers. I am stuck with them since my lender sold to them

If I could give a negative star I would. We set up our online account, put in our bank account information and paid our first mortgage payment 2 days before it was due. Well they have twice told us that the bank account is wrong, even though the bank tells us the numbers are correct. So now our first payment is way late because of them. They keep telling me to go and change it online, but I keep telling them the bank states this is the correct bank account information!!!! Unbelievable!!! We had no choice our lender just sold our loan to these incompetent fools. We also have issues with the taxes they are telling us to pay. They have the taxes up to almost $6000 when it should be, according to our township assessor, around $3000. But all I get when I send messages or talk on the phone we are looking into it, it is being escalated, they are so full of it. I would like to get paid to do absolutely nothing at work. VERY FRUSTRATED!!!! I would NEVER recommend this company to anyone. Notice the good reviews are vague and generic, probably put online by employees that have no clue.

Been trying to fix escrow acct for three months every time I speak with someone they say it will be resolved. The first guy couldn’t figure out what my payment should be, he gave me three different figures and then asked me “ is that ok?”like I have a choice in what I want to pay . My mortgage payment went up $700/ month! My escrow is plus $17000! Three times what I needed this year. I was told my payment would decrease in Sept, but it’s scheduled for the same amount. Whose running this company?? Maybe we need a class action or some investigation into these complaints???

What a horrible company! I asked for a payoff statement multiple times and have yet to receive one. The first request was through the website, and nothing happened, so I called a few days later. They said they'd send it by mail in about 2 weeks. I said that's too long, so they said they'd fax it. I gave a fax number 5 days ago and they have not sent it yet. They are saying system issues. I don't believe it. I think they want me to keep paying interest. I asked to speak to a supervisor and the customer service rep said no supervisor was available. No one has called me back. Now I'm stuck paying interest on a loan I want to pay off.

This has got to be the worst mortgage company ever. Zero exaggeration. I have nothing positive to say about them , there customer service is awful and never any help. There only concern is taking Your money

PennyMac cost me thousands of dollars by fumbling (with MULTIPLE issues/incidents) the closing of a 5 duplex deal, causing unnecessary delays. Then they screwed up the escrows so bad, their representative took 4 days to figure it out. Then they failed to pay my property taxes on time. While I was out of country, something happened to my insurance and they charged me $189 for "3 weeks of insurance". If they called me or emailed me I would have gotten the email or my answering service would have emailed me. Salt in the wound. When I called, they just kept talking over me and repeating themselves over and over after I ask them to stop repeating themselves. I don't recommend anyone ever do business with PennyMac.

The absolute worst mortgage company they can not get my property tax/escrow account correct after 20 phone calls in the past year I am still not happy with the service that has been provided. I am now having to pay for the big mess up they made last year not taking enough out for my escrow account

REFINACNCED OUR LOAN AND WE WERE SCAMMED AND LIED TO; WE RECORDED EVERY COVERSATION. CALLING THE FBI TO INVESTIGATE.

No competence, all sales. L.O. Had poor understanding of loan products. They explain in detail how they’ll take longer to close than most, then threaten to cancel the loan if you don’t send what they demand soon enough. The moron I dealt with thought he could scare me into compliance on his time frame. I told him I couldn’t work with him, and he said his supervisor makes him use that tactic, and to just send docs ASAP. I’m a doctor with stellar credit scores. 1 phone call and I found a better rate with someone far more competent, and I never sent another doc to these hacks. They said they’d beat the new rate, but the overall product and experience they could offer was completely inferior, and I honestly would have paid more just to not work with them. Still, they repeatedly called and emailed me for weeks using downright deceptive retention tactics at times. Know what I told them? ”Your loan officer made it very clear that he would cancel my loan if I didn’t get him docs immediately. I’ve sent nothing and that was a month ago, and I’m closing now with someone else.”

Disgusting company. My mortgage was sold to them and they failed to make my City Real Estate Tax. I contacted them and was informed my issue has to be sent to the "Escrow Department", but no one can get a hold of them. With my due date quickly approaching no one can still get a hold of them. I am told by multiple managers and supervisors my issue will be "escalated" but that has done nothing. Rude Customer Service Reps too because they will cut you off, put you on hold quickly and leave you on hold to "read your account".

This company used to be awesome, years ago. It's not the same customer service anymore. I tried to make my May payment on three separate occasions. The first two times I made the payment it went through "successfully" and showed up on my Pending Payment screen. A few days later I would wonder why the payment didn't clear my bank and I would go back and see that the payment was nowhere to be found. I made a third payment today 6/1/22 and ensured it was on the Pending Payment screen and then I called and spoke with multiple customer reps/supervisors. The supervisors acknowledged they could see where I made the payments and they went through and then the portal turned around and blocked the payment with no notifications sent out to me. The supervisors said regardless of this, it was still my fault that these payments were late because I should have called in to make the payments. I've been making payments on their portals for 5+ years and have NEVER had an issue. Now this is going to be recorded to my credit and noone is willing to do anything. They will twist your words and tell you that you didn't do what you were supposed to do and then "apologize" when you call them out on it.

As a customer of PennyMac for over 8 years, I want to say its customer services aren't what they used to be. During the first few years under PennyMac, almost every customer representative (their financial specialists are in a different department) I encountered was courteous, knowledgeable, and helpful. However, my very recent encounters with them in the last couple of months made me think about switching to a different mortgage company.

Where to being with this incompetent place. When you fall behind on payments due to a decrease in your pay by 50k a year they won't help you. Their solution is short sale or deed in lieu. When you get hud involved they claim they'll work with you and then claim they didn't receive your paperwork despite it being sent with delivery confirmation. When you submit a modification application they claim you had a recent modification on this or that date. When call and ask what modification they're talking about they say you don't have one it was declined. You ask them to send a letter stating that and they refuse to. You ask for a transcript of all phone calls and again they say no. You ask for a copy of all documents mailed to you and again the answer is no. Let's talk about their non stop increases on the payment amount. They claim it's due to an increase for property taxes which is not true as my property taxes went down. I asked for a copy of the tax bill they received from the township and again they won't provide it. When you contact Pennymac do so in the presence of an Attorney that way you can have the content of the conversations on record.

The worst thieves and cons going. Do yourself a favor and stay far , far away.

Pennymac is such a deceitful company. DO NOT TRUST THEM!! During the pandemic my husband had a work injury. We connected pennymac right away when we knew we weren't going to be able to pay our mortgage payment. They told us to apply for a Mortgage modification to help lower our Note and bring us back to current. We did and went through their trial modification and was able to make all the higher payments they asked for. When get the " Modification Agreement" today we was absolutely shocked to see that they raised our Interest rate and our monthly payment. How does this help PennyMac? Who does a Mortgage modification to get higher rates? Yall gave us 2 options to either sign the papers or come up with $2588.68 plus a mortgage payment of $1368.30 to become current again. This company is not out to help people in struggling times, yall just want to screw people even more. I would never recommend this company to anyone

We have been in the process of getting a loan to buy a house in Florida with pennymac and they have repeatedly told us over the past 45 days that they did not need my income (moving out of state and quit my job on 4/15 and do not have a job yet) and would be fine with only my husbands income (works remotely) and now 5 days before we close and after we already got the closing disclosure paperwork from pennymac saying our loan was good to go they say that I need to have an income to get the loan. They asked me to hand write a letter 2 weeks ago on 4/11 saying that I was not working and told me it was fine that we could still get the loan. We are selling our house and if this loan does not go through we will not have a place to live. We have had multiple pennymac representatives tell us that this was a nonissue and now the underwriter is telling us it. We have been calling them for days to get answers and no one would call us back. Finally we got a hold of a manager today and she is calling us liars and telling us that they are not going to approve our loan 5 days before we close after we already got the closing disclosure paperwork yesterday and she lied saying they sent us emails before today saying that I have to have income. Before today they have never sent emails or calls or anything of that nature saying that I need to have a current job to get our loan. They have no evidence of these alleged emails sent and they do have phone call recordings of their representatives telling us that it was fine that I currently do not have a job, I would never have quit my job if they had not told me it was okay for me to not have a current job. This is criminal and because of them lying to us for 45 days we will lose our home.

i have just received information about setting up an account with PennyMac,, I have tried several times with no luck,, have called the contact help number several times, I just keep getting transferred to a recording. ? nothing on the website works? My house payment will be late because of this,,, Its PennyMac fault for my late payment.!!!!!!!!

I had a mortgage with Penny Mac for over 10 years that was sold from Bank of America. I sold my house earlier this year and have contacted them several times to ask why they won’t report to the credit bureau that I paid off my mortgage. They keep giving me the run around and won’t do it. So now I have to contact the credit bureau myself so I can get my credit score up. But I won’t ever do business with them again.

The mobile app sucks ass. I login, it asks for my loan number and then won't proceed to my account. Absolutely useless... most likely government run...

I opened my pennymac online service to pay my monthly bill,I had a popup instructing me to update my Pennymac account ,Can someone help me on how do I update it? I have searched through pennymac and I can not find where to update. Help please. Thanks

horrible company that does not keep up with their records. How many times do they need my husband to give me permission to make payment arrangements? For the love of everything holy in this world just take our god damn money!

I applied for assistance through the Homeowner Assistance Fund on January 11, after reading about it on Pennymac's website. Near the end of February I contacted the state because I hadn't heard anything. I was informed that they are getting applications approved in about 7 days and that mine is approved on their end, but they haven't gotten a response from Pennymac. I have since contacted Pennymac 3 times about this and they have still taken no action. It's almost as if they don't want to be paid. The current value of my house is up 73% from when I bought it, so it almost looks like they'd rather force me out and sell it at a much higher price.

Pennymac is HORRIBLE!! VETERANS BEWARE of their ignorance and inadequate treatment of us. I changed insurance back in June 2021 received a refund from the insurance company. I, in turn, sent it back for pennymac to place it in my escrow account; they did not do that. They put that money where they wanted to, and I am now saddled with a 300 dollars increase in my mortgage. I have to find that money every month because they will not move the money back. They claim that I had 90 days to transfer it to the escrow account. It was Pennymac's mistake. BEWARE!!! They are HEARTLESS!!

I have had a mortgage loan with this company since 2013. Most of my dealings have been satisfactory. However, on several occasions they have not posted, when received, my payments till many days after receiving it, I have tracking, putting it close to the deadline and a couple times charging a late fee. On Feb 9 an overnight to same PO box was sent for Feb payment. It was delivered next day. They have lost it. Unfortunately, money order was inside with loan number and they LOST it. When I did not see it posted I emailed the information to them. I had at least 5 reps emailing me back with the stupidest excuses why I need to pay; phone calls with customer service people who did nothing. Then I get a call saying they found it, which they didn't and had to take back that statement. I paid $30 to overnite, $15 for PO to do research it after being missing 30 days and PennyMac won't take any responsibility for their negligence or pay me back fees I'm paying to get something done. I am totally done with this irresponsible company. Today I learned they closed the ticket. Unbelievable. No one told me that. So now they say they will research which means nothing will get done. I have done more work trying to get my money and it is just wrong. But they continue to want me to pay on time, pressuring with "we're a collection agency" as if someone has $1400 to just lose and oh well. They need to get their big guns sitting in offices smoking cigars to get off their butts and run the company. Just outrageous!

I tried to refinance my PennyMac Mortgage, the process was such a fiasco I had to back out. Then I sold my house and moved, getting a mortgage with another lender, thank Goodness, with a plan to recast the loan in 3-4 weeks after closing. Meanwhile, PennyMac bought my new mortgage mid December. The never contacted me, they have all my contact info. I eventually contacted them, and began the process of recasting on December 28th, followed all instructions- onJan 5th priority mailed a check for $65K and another for $250 for processing fee. Nothing has happened since they cashed my checks for $65+ Thousand- I was told another evaluation $350 was required for a brand-“new build in November due to the time elapsed, which THEY caused. It’s now mid March, no evaluation has been scheduled, and PennyMac continues to deduct excessive high monthly payments, extra mortgage insurances, and fees from the $65K and I was told to do their job of contacting the original mortgage company to prove interim payments were made and transfer the funds to PennyMac. So I have been paying hundreds of dollars per month EXTRA because PennyMac is dragging their feet and charging me for it. Nobody answers the phone, even when they request a call back! Everyone working from home these days does not create a smooth process. The customer has to pick up the slack and pay extra for their efforts. Worst customer service ever. I have had better treatment from the IRS.

My experience with PennyMac customer service has been awful. I was told by three different representatives they understood my issue and would work to get it resolved only to learn after following up a fourth time there was nothing they could do. I was misled and disrespected. It is not a company I would ever want to do business with again.

I am a retired vet and had to do a derferrment in 2020 due to COVID and a job loss. I ended my deferment as soon as I found a new job and the lender talked me into a Loan Modification BUT should have just done a refinance instead, but was mislead by my lender into doing a mod instead. These lending companies must be getting some benefit (kickback) from the federal government to do mods instead of offering refinances. This ultimately hurt me and my future as I did not need a loan modification. So we now want to cash out and pay down all our debt and want to refinance my home to cash out, but PENNYMAC will not do VA refinances for VETERANS loan modification in the past 18 months NOT a company I would trust and they seem to be using veterans as they don’t really care what the situations are, and anyone who makes an internal policies to eliminate the most needy like this and then insist they are doing this for the veterans are not a good company to use or accommodating. So when looking for a mortgage company look elsewhere if you want to be treated fairly and honestly. This is their greed and they should be ashamed

This company sent me a letter. It states they are charging me $450. for lapse insurance coverage. My policy does not expire until 02/24/2022. Pennymac has charged me for lapse from 01/29/2022 thru 02/24/2022. My new policy starts from 02/24/2022 thru 02/24/2023. I have the same insurance which has never lapse in 20 yrs. Called Pennymac they told me no supervisor is available. This has been going on for 2 weeks now. I am contacting my lawyer and letting him handle the problem and filing law suit for the above matter.

Pennymac has the lousiest web site to assist in payment of your mortgage. it's like going through a battlefield. half the time you can't get the system to move and then a page comes up that you can't eliminate. it sucks!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

I've been through a lot of mtg loan closings and I have to say PennyMac was , by far, the easiest and least stressful of any of them. If you are planning to refi or new loan I highly recommend PennyMac. If you are upfront about your expectations, what you can and cannot do, they will let you know how close they can get to the expectations. Their loan program app is 2nd to none. Really easy to work with and I am not techy at all. I chose emails as a communication, worked perfectly.

It was a quick and easy process to refinance with Penny Mac. The option of checking the loan status information online is convenient and is quite helpful.

I have been sending messages to PennyMac for nine days now for someone to call me to solve a property tax problem. No one has called. Their automated phone service has problems. They ask to type in the loan number, but only give you about 3 seconds to do it. After three tries, you are not allowed to try again.

Wonderful customer service and communication. Website very easy to understand and navigate. Would highly recommend.

It was really easy and they answered our questions very quickly.

Extremely pleased with the services provided by Penny Mac. Their team of professionals were efficient, knowledgeable, and very helpful. I could not be more satisfied with my refinancing process. 4 years + as a customer and looking forward to more. Trust this company with your mortgage loan, you will not regret it.

The MAC-team strikes a balance between professionalism and excellent customer service. Each individual in the team paid special attention to detail and communicated well, keen enough to answer all my questions. The ease of navigating the refinance road was surprising to me, considering the bumps along the way just a decade ago. The combination of reading/ signing documents online and the quick turn-around times by the team members at various junctures, made the process seamless. I appreciate your guidance in this matter. Prem/

I usually pay online and this month went to the usual site and it showed first the site was down and then to STOP because it was a phishing site. WTH??? They can inundate me with calls and mail and emails to re-finance but can't keep up a website?? Something is very wrong!! Now have lost confidence in this lender!!

This is the worst experience in my life for a refinance. The sad part my VA mortgage was later sold to PennyMac. Sit back and enjoy the show of this horror movie. I started back circa Sept 23rd with Miranda N, loan officer. She was horrible and did not replied to my emails and ignored my v/m, I had to follow up with her after 3 days, she said the phone were down for 3 days which to me being a c-level IT engineer I found her excuse unacceptable. I could not deal with her after 2 weeks of lies, interest rate as low as she said, and I asked her to break things down, and she ignore answering my questions back. I found out later she never even scheduled for a home appraisal and took my credit card. She never charged it et etc.... was a waste of two weeks. There are other players in town. I received circa early November an email from PennyMac about low interest rates, et etc... I decided (was a mistake) to give my mortgage company PennyMac another break and try it again. This was around November 8th, 2021 or so (today is January 14, 2022). The loan officer was and still is (maybe) Donald W. At the beginning was smooth and I provided what they needed to upload to the customer's dashboard. I got an appraisal the following week, the same week a termite inspection in which it was found two small areas of the foundation concrete had termites. All this information was uploaded to the dashboard and a hardcopy of the PDF report was provided via email to the loan officer who confirmed the documents. Received a call from a lady in customer service they were going to assign a person who was going to take me to the "finish line" (I am still waiting to cross that line). She asked me to fill a VA document called "next of kin" and it was done within an hour (I work this way). All this was done by or before November 19th, 2021. The next phase was what I wanted to cash out and approved for a 2.25% where Miranda N. told a 2.10% a month before. Interest rates were still low and nothing did change. I was looking at numbers for 130K cash out and it was processed and approved but on December 3rd, 2021, I asked Donald W., loan officer to give me a number of 150k cash out and we spoke by phone an email. He gave me numbers. I told him go ahead and do a 150K cash out on 12/3/2021, and I received an alert on the dashboard to review what he processed. I saw that he processed 210K cash out and I freak out (the numbers were affordable to me but I never authorized that). I called him right away, left a v/m, and emailed him to change it. He ignored my calls for two weeks and emails. I was also dealing with my assigned person Liem N. whose job is to review customer's status and what needs to be done (this is another horrible story but he is just the messenger. It gets complicated folks so grab the pop-corn). I received numerous emails from Liem that I need to complete the "next of kin" form (remember this was done in November 2021 and it was now December 10th). I finally spoke with Liem and told him to stop sending me emails about this VA form that he should review the dashboard before calling a customer and see that it was completed and water marked with dates and times when it was uploaded. In the mean time 2 1/2 passed no word from Donald W. about correcting the 210K cash out to 150K. He finally replied that I need to speak to a manager. His replied to me was, "everyone wants a manager." Yes, folks, it is true (all those emails have been deleted within PennyMac but I have the emails from my email server. Weeks go by seeing to action from PennyMac nor a manager who should have contacted me from the Tampa PennyMac office (today is January 14th, no calls yet and this week did another escalation waiting for April Williams who is the manager from Tampa to have the decency to call a customer on a escalation matter). I received a phone call from Liem asking me on December 22nd or so, that I needed to get a clean copy of the termite inspection before going to the next process (yes, folks you heard me right. This was done back on the 19th of November 2021 and being told now). I was told that we could be looking at a closing of December 22nd, 2021). My blood started to boil and asked Liem to get me a manager. He complied and I started to deal now with a Patrick H. from the California office (yes folks, now in California) who is Liem's manager circa December 22nd, 2021. Patrick turned out to wanting to do the right thing and email the sales department. This was during the holidays and most likely people were going to be out. He cc. a lady until today's date she never emailed me or Patrick H. Patrick told me that we would be emailing me on January 3rd 2022. No emails of phone calls. I emailed him and on January 4th 2022. I had certain demands now "We have reached out to sales many times and no one responded." Filing complains with FTC et others loan 7014103684. Go with another company!

I'm a veteran who sought out a VA home loan as a first-time homeowner. And working with PennyMac has always been easy-peasy. I've had very few problems with PennyMac. In fact, I can only remember one hiccup. But it was resolved in an efficient and timely manner with no negative consequences on our end. Fast forward 7 years later to the refinance...again, quick easy and painless. The only mistake was on a few forms that had spelled my first name wrong. Which then required me to cross out my name, write the correct spelling, and initial. But it wasn't a lot of pages that had mis-spelled my name and it didn't slow the processing down.

They helped us when no one else would. The process was simple. Communication was concise. Help was friendly.

👍👍👍 still paying a payment for the next 30 years

I purchased my home for $159,900. Owned home for about 6 yrs now. COVID affected my family so multiple payments were late. They put me on a forbearance plan. Selling the home due to wife and I geting a divorce. I have to pay $179,100 to pay off the house. I paid mortgage for 6 yrs and now have to pay an additional 20K to close loan. Called customer service. They said there was nothing they could do about it. I had no options and said that if I would have made my payments on time that this would not have happened. Understand there's some legal crap behind this, but situation is not fair and they were NOT willing to work with me. Some customer service! I have been a military soldier now for about 18 yrs and will be telling everyone at my station to stay away from PenntMac!

Excellent, competent, quick, professional service.

The service from my M.A.C. team member Michael D. was awesome! He was always willing to talk with me about my questions and was very knowledgeable. He sent weekly updates throughout the process keeping me informed of delays and/or further information needed. Very impressed with the entire process from start to finish!

I'm a REALTOR with 26 years experience and I have NEVER had a mortgage company treat a buyer as bad as PennyMac just did. The loan was denied after the scheduled close date because the home owner is an LLC?? The property appraised over the purchase price and the contract stated the seller was an LLC from day one. PennyMac has cost my buyers thousands of dollars and we have to hope the sellers will give us an extension.

Great team, excellent service

My experience was stressful, filled with misinformation, and incorrectly done procedures. Communication is lacking, people need training, and it takes entirely too long to get the money back. They do NOT live up to the "superior service" they claim to provide. Every person I talk to says the last person I talked to did NOT take the proper steps or did it wrong. Five people and seven days later, they tell me it will take another 20 days. So, much for Christmas this year!!!!!!!!!!!!!!! They don't care. They won't take responsibility for their screwups, and following their policies are more important that you getting to eat. Update: I got through five people to someone who was willing to fix the issue. He relieved my stress and got it fixed