PennyMac Loan Services

Review: I was to receive a refund check to my escrow early October. The representative informed me checks are not forwarded. I was deployed at the time. I gave a new address and I was told the original check issued would have a stop-payment placed and a new one sent out to the new address. 3 weeks later the check hadn't come. I called back, now I was told I had to wait 30 days from the issue of the original check before a new one could be sent out. I said, ok, I'm back from deployment, send it to this address. I was told it would come within a week. A week passes, I called back, now i'm told it's gone to the next level of processing and would go out by FEDEX. I waited, still no check after another week. Saturday, 28 November I called. I spoke with 3 people, totaling 1 hour and 30 minutes on the phone. the last person was a supervisor who said my check would come this week. Today I called to get a tracking number, the representative said she would get a tracking number and call back. 9 hours later I called back. this time the representative said if I don't have anything by the 10th of December she will escalate the issue. It's now been almost 2 months since the first person I spoke to. Total I have spoke with at least 7 people. Everyone is making promises that my refund is being escalated and coming by FEDEX. I'm in the military and will move again next week. If it has taken 2 months to receive my check after one address change I don't know what will happen if I change it again. Right now I'm about to go on vacation then move to Texas in February. With that said I wont have a permanent address until mid February. I don't understand why it takes so long to receive a refund but if I miss a payment my credit report is ruined forever. It's not y fault the military is making me do all this moving but after 2 months this is getting ridiculous. Someone please help!Desired Settlement: I would like to get a tracking number for my check that's coming thru FEDEX. I really need it this week. Next week I will move again and I wont have anything permanent for 2 months and can't give an address upfront

Business

Response:

“Thank you for bringing this matter to our attention and

allowing PennyMac Loan Services,LLC (“PennyMac”) the opportunity to review

and respond to Mr. [redacted]’s concerns.PennyMac strives to provide superior customer service

and respond to all inquiries in a timely manner. Upon

receipt of the Revdex.com notification, a

PennyMac Representative contacted Mr.

[redacted] to discuss his concerns

regarding status of his

Loss Draft Insurance check on December

2, 2015. A detailed letter of explanation will be sent to Mr.

[redacted] under separate cover within 30 business days. PennyMac values and protects its customers’

confidential information. Due to privacy reasons, we will refrain

from posting any personal information to the Revdex.com site as we

do not disclose our borrowers’ personal information.

Consumer

Response:

I have reviewed the response made by the business in reference to complaint ID 10976428, and find that this resolution is satisfactory to me.

Regards,

Review: PennyMac recently acquired my loan from Plaza Home Mortgage Inc. in December of last year and since then everything surrounding my account has been a disaster. I cannot overstate my displeasure enough about how poorly my account has been handled. I am being harassed daily by their customer service department about delinquent payments, when I have made all necessary payments to them and Plaza Home Mortgage Inc.(the prior servicer) accordingly. I have called their customer service department on countless occasions and explained to them how and when those payments were made, and have even provided proofs of the payments, but they have failed to resolve the issues, instead, they have intensified daily harassment calls to my cell phone.In November of last year I spoke with Plaza Home Mortgage Inc.(the prior loan servicer), about making partial payments (two payments in a month) and was told that I could, and since November I have made the following payments: 1) November 05, 2014: $1,354.58 (total payment for the month of November)2) November 17, 2014: $650.00 (partial payment for the month of December)3) December 04, 2014: $710.00 (remainder payment for month of December)4) December 16, 2014: $650.00 (partial payment for the month of January)5) January 06, 2014: $705.00 (remainder payment for month of January)As you can see here, all payments have been made and this account should be current. I have also spoken with Plaza Home Mortgage Inc.(the previous servicer) about the issue and they have confirmed receipt of all payments up to the point of the transfer of the loan to PennyMac. They even told me that they do not understand why PennyMac is coming up with issues that do not exist, and that they have provided PennyMac with all account related documents they had.Desired Settlement: I am asking PennyMac to correct the errors on this account and have their customer service department stop the harassment calls.

Business

Response:

PennyMacLoan Services, LLC, (“PennyMac”) strives to provide superior customer serviceand process all transactions in a timely and accurate manner. Thank you forforwarding Mr. [redacted]’s concerns to our attention and allowing us theopportunity to respond. Upon receipt of the Revdex.comnotification, our office completed a thorough review of Mr. [redacted]’s loan toensure that his concerns are addressed. A representative from our office calledMr. [redacted] to provide status in the matter of his payments made to the priorservicer. PennyMac is in the process of finalizing a written response inregards to researching his concerns.PennyMac values and protects itscustomers’ confidential information. Due to privacy reasons, we will refrainfrom posting any personal information to the Revdex.com site as we do not disclose ourborrowers’ personal information.

Review: On February 26, 2015 I informed my mortgage company that I had an insurance claim and wanted to know the process of providing them the checks due the amount of it being over 10,000 they had to endorse the check. Unfortunately their process is a little bit more than that I have to sign the check over to them and they create an account and disburse the money in payments once they have all completed documents for a claim packet. I submitted everything overnight mail to penny mac and uploaded all necessary documents to the website the packet the were supposed to mail me was never received. Due to 4 children and two small children in the home with no kitchen, mold damage I chose to start the work right away. I have put up 17,000.00 of my money to start construction of the home and we are now at 70% work complete. Each time I have called customer service I have gotten a different response from the representatives. I have been told there is a 72 hour return, 2 to 4 business days, 7 to 10 business days. After several attempts to get a clear answer on March 6, 2015 I requested a supervisor while on hold for over an hour I was told there was only one and that they would not be able to call me back for another 24 hours I then asked the representative what I can do to have more of the money release she explained to me I must write and exception letter but did not explain it need to be accompanied by the receipts I have paid to the contractor well of course I sent the letter without the receipts because I didnt know I had to send them ( due to lack of information provided by the representative). By the following Monday still no supervisor had called. I called again on Monday only for the representative to tell me that there was no supervisor in the office at all for 3 hours after the office had opened although they have several locations there was not one in any of the offices.I ca After the young lady told me that I waited and called back later that afternoon.Desired Settlement: I would like the company to process the check I sent and send them to me overnight so I can began the process of complete my home. I also mailed them an overnight airway bill so they did not have to pay for any expenses to send me the check they informed me the day after I sent a prepaid airway bill that they could no longer accept UPS a day after I sent the airway bill.

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.comnotification, our office completed a thorough review of Ms. [redacted]’s loan to ensure that her concerns are addressed. PennyMac is in the process ofgenerating written response in regards to researching her concerns.PennyMac values and protects its customers’ confidential information. Due to privacy reasons, we will refrain from posting any personal information to the Revdex.com site as we do not disclose our borrowers’ personal information

Review: To Whom This May Concern,I am writing this statement on behalf of a dispute that occurred upon making my April 2015 monthly mortgage payment. On April 29, 2015 I had logged on to PennyMac website and login to my account. The reason so was to make my April monthly payment. After navigating through the site and clicking on the One Time Draft link I was able to proceed into making my monthly payment in which had processed and went through with a confirmation page as followed. Ordinarily, after I post a payment online I would receive a confirmation email within 24 hours stating that I had made a payment and it will soon be drafted out of my account. Myself knowing that Pennymac usually send a confirmation email payment had lead me no reason to print out the confirmation page to keep for my records. So I waited for the email as usual. Upon, the next day (April 30, 2015) I notice I havent received the confirmation email and went back online to PennyMac website to see if the payment went through and posted to my account in which it did not. So I figured it would probably take another business day or so to let it process and draft out of my account. As a couple of days went by and Monday May 4, 2015 came by I notice the money wasnt still drafted out of my account. So I called PennyMac customer services department and spoke to a customer service rep. She told me that a payment was never posted on April 29, 2015 and I was past due on my April 2015 monthly Payment. So I then again gave her (PennyMac) authorization to draft the April monthly payment amount to draft out of my account. I then also explained to her that I am currently going through the process of doing a refinance on my home and I cant be late on any payment due to the fact of the guidelines of being approved for a refinance. She then told me that I could dispute my claim by first pulling up my credit report and writing a statement of the situation and faxing it to Pennymac customer service department to dispute my claim. Continue..Desired Settlement: I would like Pennymac to admit there was a computer error in their part in which cause my payment to not be drafted on April 29, 2015 and forcing me to make the payment on May 4, 2015. I would also like Pennymac to forward a letter of explanation to my loan processor admitting that I paid on time and it was an error in their system and I should not be denied of a refinance loan because I did make my payment on time and Pennymac take full responsibility on the mishap.

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.D[redacted]’s concerns to our attention and allowing us the opportunity to respond. Our office is in the process of completing a review of Mr. D[redacted]’s loan to ensure that his concerns are addressed. PennyMac values and protects its customers’ confidentialinformation. 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 husband and I became Pennymac customers about a year ago when our VA loan was sold to Pennymac. Our experience with Pennymac has been horrible!! Customer service seems to be non existent and the "straw that broke the camel's back" for us was when we received a letter in the mail in April stating that our loan was being placed on certified funds for 12 months and that we could no longer pay our bill online -- we would have to send a money order or cashier's check. I have tried working with customer service to have this issue rectified, I have tried to escalate this issue to get it rectified and all I have received is conflicting and erroneous information and no help in resolving this issue. When my husband and I first became Pennymac customers, we set up our bank account so that our mortgage payments would automatically be drafted on the 1st of every month, all of our payments came out on the 1st, and we had no issues. At the end of 2014, my company changed payroll firms and instead of paying me on the 1st and the 15th, they began paying me on the 7th and the 22nd. This of course changed the way I had to manage my payments so I called the Pennymac Customer Service line and informed the representative of the situation and I cancelled the automatic drafts so that I could make the necessary adjustments given my new pay dates. Once I made the adjustments, I began manually scheduling our payments to be drafted on the 1st of the month...but Pennymac wouldn't take the payment out of our account until almost a week later some months!! Then, I would get charged a late fee and then I received the letter that we are being put on certified funds!! How am I being punished for Pennymac's delay in taking the money out of my account?? It is both ridiculous and unfair. The only thing worse is the way I've been disregarded while trying to get this situation remedied. I just want to be able to once again make my payments online. I shouldn't be penalized because Pennymac waits a week to take my mortgage payment!Desired Settlement: As stated, I think putting our loan on certified funds for 12 months is both unfounded and unfair. I would like to be contacted and I am respectfully requesting that the 12 month certified funds requirement be removed from our loan. I request that we be allowed to continue to submit our payments online and via our online bill pay.

Business

Response:

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

Review: I’m reaching out to the IRS and Government officials in an attempt to obtain answers regarding a 1099C form which was filed by our mortgage lender, PennyMac for the tax year 2014. We contacted PennyMac via written correspondence on April 28, 2015, Please see attached) requesting an explanation of the 1099C filing of a reported debt discharge" amount of $59,902.97 on 5/30/14. This discharge DID NOT occur and HAS NOT occurred to date. As stated on our legally binding mortgage modification (Please see page 2 of the attached mortgage modification), which was approved on April 29, 2014 and payment performance began as indicated on June 1, 2014, that “$19,967.66 will be forgiven each year on the anniversary of your first trial period payment date for 3 years”. This information is indicated on a legally binding document and serves as our contract with PennyMac.The questions we are attempting to have answered by PennyMac are:1) Is it legal to file a 1099C form stating you’ve given us a “discharge" of $59,902.97, when in fact youve given us $0.00 discharged, which you clearly indicate on our modification agreement on page 2, section Principal Forgiveness? 2) The response PennyMac sent to our inquiry (Please see the attached document dated May 27, 2015) does not address ANY of our questions regarding the filing of the 1099C form. How is this legal and/or ethical practice? 3) How can PennyMac indicate $19,967.66 will be forgiven on the anniversary of our first trial period payment date for three years" when we never had a trial period at all?! 4. ) What are the potential tax consequences if we sale our home prior to the end of the three years, even if our loan is in good standing? 5) How can PennyMac continue to attempt to collect on a debt they are filing with the IRS as a “debt discharge"?As we all are aware, it is imperative that our modification contract match any and all forms filed with the Internal Revenue Service, since our contract is our legal binding document on our family home. This could potentially become a tax nightmare for us if they do not match.We are fully aware that the Mortgage Forgiveness Debt Relief Act & Debt Cancellation has expired as of December 2014 and this could truly be a great benefit for us if the debt was actually discharged...but unfortunately, it hasn't been.These are questions and concerns we deserve and demand answers to as a taxpayer and homeowner and we are turning to our Government officials to get clear, concise answers since our mortgage lender is insisting on being evasive and unresponsive to our inquiries and phone calls.Desired Settlement: These are questions and concerns we deserve and demand answers to as a taxpayer and homeowner and we are turning to our Government officials to get clear, concise answers since our mortgage lender is insisting on being evasive and unresponsive to our inquiries and phone calls.

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. L[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 Representativecontacted Mr. L[redacted] on June 24, 2015 to discuss her concerns. There was no answer on the number provided and the agent was unable to leave a voice message for Mr. L[redacted]. PennyMac will be providing a detail response under separate cover.PennyMac values and protects its customers’ confidential information. Due to privacy reasons, we will refrain from posting any personal information to the Revdex.com site as we do notdisclose our borrowers’ personal information.

Review: In September 2014 my mortgage company transferred my account to Pennymac. During this time, Pennymac made no effort to contact me other than mail. Being on travel most of the time, I did not receive any of the mail. This led to late payments on the account. After finding my autodraft had not been withdrawing on my account I contacted my old Mortage company and they gave me contact information for Pennymac. I notifed Pennymac that I had been on official travel and they waved the late charges but refused to remove the late payments from my credit report. The service representative informed me that I needed to make the following month's online payment before I could set up automatic withdrawls.The following month I made my auto payment and set up my automatic withdrawls. On the 1st of the following month, I changed my autodraft to a later date to ensure I had the funds within my account. There was no notice on the website stating that it takes 3-4 business days for this change to take place.Today I found my account is once again behind payments. I called Pennymac to find out why my account had not been charged. I again have been on official business out of the country. The lady informed me that it takes 3-4 business days for the autodraft change to take place. She stated that they w[redacted] remove "some of" the late payment charges and that a letter would be sent to the credit portion of the company to ask if it can be removed. During this call, she would ask if I had anything to add. When I began speaking she would start typing (phone on speaker.) I would stop talking and ask, "are you listening to me?" There was no response. When she finished typing she would ask the next piece of information she needed. Once again I would try to explain more information and she would begin typing and not paying attention to what I was saying. Once she finished she asked me, "is their anything else I can help you with?" I said yes and began to speak. I sat on the line for 5-10 more minutes, apparently she muted meDesired Settlement: Pennymac needs to remove all late payments on the account. They need to remove all late payments from my credit report. They need to verify that autodraft has been set and w[redacted] withdraw from my account. Their website needs to be updated to include notice that changes to autodraft w[redacted] take 3-4 business days and any drafts that occur within that time period w[redacted] st[redacted] attempt to withdraw. Their customer service needs to listen when the customer is talking.

Business

Response:

Thank you for bringing this matter to our attention and allowing PennyMac Loan Services, LLC (“PennyMac”) the opportunity to review and respond to Mr. H[redacted] concerns.PennyMac strives to provide superior customer service and respond to all inquiries in a timely manner. Upon receipt of the Revdex.com notification, a PennyMac representative contacted Mr. H[redacted] on June 24, 2015, to discuss her concerns. Mr. H[redacted] was provided with the name and the contact number of the agent that w[redacted] be addressing his concerns. Furthermore, PennyMac w[redacted] respond to Mr. H[redacted] concerns under separate cover. PennyMac values and protects its customers’ confidential information. Due to privacy reasons, we w[redacted] refrain from posting any personal information tothe Revdex.com site as we do not disclose our borrowers’ personal information.

Pennymac accepted an offer from my wife and I and asked us to overnight a check. We did as they said and made a copy for them as well. When they received it they informed us that they decided to go with another offer instead because they were unable to read the copy of the check. Turns out, the offer the received was higher. While they legally did nothing wrong, this company is ethically questionable at the least. Accepting an offer and making us go out of our way to appease them just to go with another offer was insulting. I would stay away from these sharks.

Review: PennyMac has not paid my Home Owners Insurance out of my Escrow Account which was required to be paid by Jun 27, 2015. I ended up paying the Home Owners Insurance ($1025.00)out of my pocket on July 27, 2015 so that I would continue to have coverage. I contacted PennyMac customer service 9 times from July, 13, 2015 - to Aug 18, 2015.The following is what I was told each time I called PennyMac Customer Service Division:7-13-2015 5:15pm - was told check was sent 1-2 days ago7-16-2015 8:15am - was told check will be sent today7-21-2015 morning- was told payment was sent to my Homeowners Insurance7-27-2015 2:40pm - was told check may or may not have been sent7-29-2015 2:25pm - was told check was sent yesterday8-6-2015 10:45am - was told check will be "rushed" to Home Owners Insurance8-17-2015 11:15am I demanded to speak with Ins Dept. Supervisor or C.O.O S[redacted], was told someoen would call me back in a few minutes. 28 hours later still waiting on a phone call.As of 8-17-2015 my Home Owners Insurance has yet to be paid by PennyMac although the moeny is no longer in my escrow account.On 7-13-2015 I was told by PennyMac Customer Service that PennyMac tried "once to contact my Home Owners Insurance Company and did not receive a return call from them. My thought is so. your going to keep the money I paid in the Escrow Account? Only called my Home Owners Company "ONCE". Why not call them a 2nd time or why not call me so that I can contact my Home Owners Insurance Company. I am pretty sure that just doing nothing is not an option and probably illegal as well. on 8-6-2015 when I spoke with Janice (a supposed Ins. dept. Supervisor) she told me that the mix up came because I recently refinanced my home (this was before I knew I PennyMac had a problem paying my Home Owners Insurance) and Janice said I will unsure a check is "rushed" to my Home Owners Insurance Company so that I can be reimbursed. Curious what PennyMac'c version of "rush a check" to my Home Owners Insurance means.Desired Settlement: I would like PennyMac to reimburse my the $1025 I paid to my Home Owners Insurance Company with interest or Pay My Homeowners Insurance Company so that they can reimburse 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. M[redacted]’s concerns to our attention and allowing us the opportunity to respond.Upon receipt of the Revdex.com notification, our office is currently in the process of conducting a complete and thorough review of Mr. M[redacted]’s loan to ensure that his concerns are addressed. On August 20th and August 24, 2015 a PennyMac respersentative called the telephones numbers for Mr. M[redacted], with no answer on the telephone lines. PennyMac will review Mr. M[redacted]’s concernsand send a written response in regards to researching his concerns.PennyMac values and protects its customers’ confidential information. Due to privacy reasons, we will refrain from posting any personal information to the Revdex.com site as we do not disclose our borrowers’ personal information.

Consumer

Response:

Review: 10772487

I am rejecting this response because: first and foremost I understand that PennyMac wants to clear their name but making up lies is not the way to resolve this. I have not received any phone calls (voicemails or missed calls) from any PennyMac representative on August 20, 2015 or August 24, 2015. Additionally, I sent two emails to PennyMac C.O.O. S[redacted] on July 31, 2015 and August 5, 2015 to give him a chance to resolve this matter and I received no response to my emails. I received the email address from a PennyMac customer service representative and checked it with the email address from the PennyMac website.

Review: I was issued an insurance damage claim check on a property I own. Penny Mac has the money but refuses to discuss it with me.

Based on my recent unsatisfactory service on numerous occasions and talking with several people as well as supervisors at Penny Mac I have decided to file a complaint.

Bank of America transferred my insurance claim check which was in my name and my wife's name ([redacted] and [redacted]) over to Penny Mac last month and Penny Mac put it in a restricted escrow account on a loan which is in my ex-wife's name ([redacted] (Prather).

I own the property at 1[redacted]0 Co[redacted]s Rd in Dixon MO 65459. I have owned it since my ex-wife and I got divorced back in 2008 and she signed the quit claim deed turning the property over to me. I've paid the taxes on it, the home owners insurance, flood insurance and I pay the loan which is in [redacted]'s name. I have paid it the entire time since 2008 while the loan Allison had was with Bank of America. I have tried to refinance it but can't. During that time Allison provided Bank of America whatever documents they asked for such as allowing me to speak on her behalf about the loan, She released all her interest to the house and property to me in writing to Bank of America. They have always spoken to me and had no issues dealing with me. Now all of a sudden Penny Mac has the loan and they do not want to speak with me or deal with me even after Alison has sent them the same documents she sent Bank of America. The lady on the phone told me something to the effect of well I'm sorry sir but we are not Bank of America and we don't do things like they do.

The bottom line is that Penny Mac has over $34,000 that belongs to my wife and me not [redacted]. Someone cashed the check which was in mine and my wife's name and now its sitting in the restricted escrow account and I can't use it to fix my house that was flooded.

I work in Iraq and its difficult to ever get in contact with anyone in the first place let alone not have them talk to you. Especially when Allison has sent in paperwork requesting to be released from all interest and have it given to me. She also requested the check be sent to me but apparently Penny Mac states that can not happen it has to go to her and now they need more documentation.

I have completed what I was told to do. I submitted my estimated repairs from my insurance adjustor on my property. My ex-wife sent in a mortgagor affidavit as requested. I advised everyone I did speak to at Penny Mac that I wanted to make the payments but I just needed the money from my check to do more work on the house and to make the payments.

I have done everything I possibly can and have gotten nowhere with Penny Mac. That is all I know to do.

So as a last resort I decided to file a complaint with Revdex.com and see if I could get some assistance in being able to collect my money and continue working on my house. Its been 5 month since my house flooded and I still do not have my money to repair it. And every time I speak to someone they come up with another document they need or another letter from my ex-wife.

You can contact me at ###-###-####.

[redacted]Desired Settlement: I request the over $34,000 that was transferred to Penny Mac be released to me (Emanuel Snow) in the form of a check so I can cash it and continue working on my house that was damaged from the flood back in AUG 2013.

Business

Response:

PennyMac strives to provide superior customer service and respond to all inquiries in a timely and professional manner. 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.

Please be advised that PennyMac received a copy of Mr. [redacted]'s complaint via email on January 6, 2014. Upon receipt of the email, a representative from our office contacted Mr. Mr. [redacted] to discuss and address his concerns. Please be aware that Mr. [redacted] was not an authorized party on the loan at the time that he filed his complaint; however, PennyMac worked with our borrower and Mr. [redacted] to resolve his concerns. A substantive response was provided to Mr. [redacted] that addressed all of his concerns.

PennyMac was able to address and resolve Mr. [redacted]'s concerns with the assistance of our borrower. We were able to comply with Mr. [redacted]'s request and consider this matter closed.

As you are aware, PennyMac did not receive a copy of the Revdex.com complaint until April 2, 2014.

Thank you for allowing us the opportunity to provide a response.

Review: I had my home loan through a bank that sold it to Penny Mac. I had automatic draft from my account for years and never had any issues. I was not informed of my bank selling my mortgage and was not informed of my account no longer being drafted. I travel for my job and get my checks direct deposited to my account so I know that the money and my bills are taken care of. No one called me when Penny Mac took over to make me aware I needed to rearrange my payment. For months this went on and until I came home to a foreclosure notice, then I called my bank to see what the mistake was. I made Penny Mac in full as soon as I was made aware of the mishap and I could never get help from Penny Mac customer service. I am putting my house on the market and had plans to build a home with my soon to be wife and I am unable to get a loan at all because of this. This has not only messed my credit up without me knowing but has ruined my future plans in progress. We are very upset and Penny Mac refuses to help us or reverse the credit report. I paid them in full everything I owed and they won't even write a letter to my loan officer explaining what happened. Please help me.Desired Settlement: I would greatly appreciate the bad credit report to be taken off. I pay my bills and can afford my bills and if someone would have called me to make me aware, this would have never happened. I am never at home due to my traveling job and this is why I have always had automatic draft for my bills. I hope Penny Mac will consider the damage this has done.

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. L[redacted]'s concerns.PennyMac strives to provide superior customer service and respond to all inquiries in a timely manner. Upon receipt of the Revdex.com notification, a PennyMac Representative contacted Mr. L[redacted] to discuss his concerns regarding the derogatory judgements on his credit report on Decemeber 10, 2015. A detailed letter of explanation will be sent to Mr. L[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.

Stay away from pennymac. Poor customer service. Difficult electronic payment options.

Review: We have our mortgage with this company and it specifically says that our payment is not late if paid befor the 16th of each month. They call every day after the 1st of the month until they receive the payment. It is total harrasment when clearly marked in the contract that the payment is not late until the 16th of each month. They try to strong arm us in to paying through their automated system when we clearly have a debit system through our bank. Their operators are very rude and will not listen to reason or their own contract stipulations.Desired Settlement: I would like for them to stop harrasing us every day after the 1st of the month until they get paid.

Business

Response:

Thank you for bringing this matter to our attention and allowing PennyMac Loan Services, LLC (“PennyMac”) the opportunity to review and respond to the consumer’s concerns. PennyMac strives to provide superior customer service and process all requests in a timely and efficient and manner.

Please be aware that payments are due on the 1st of each month and PennyMac may begin collection activity as early as the second day of the month to verify the status of the monthly payment due. While the loan does offer a 15 day grace period for homeowners to submit their monthly mortgage payment without being assessed a late charge, the grace period is not an extension of the contractual due date on the loan.

PennyMac reviews several factors of a loan to determine the calling pattern that will be implemented on each individual loan. Adjustments to PennyMac’s calling patterns are made throughout the life of the loan.

Our office attempted to contact the consumer on several occasions to review his concerns and was unable to reach him. The consumer was mailed a letter that provides him with a substantive response that addresses his concerns.

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

Business

Response:

Upon receipt of the Revdex.com complaint, our office attempted to contact the borrowers you on July 11, 2013 and July 18, 2013 to review their concerns. Messages left requesting a call back have gone unanswered. Please feel free to contact James Duarte at ###-###-#### Extension 8380, at your earliest convenience if you would like to discuss this matter further.

Consumer

Response:

I have reviewed the response made by the business in reference to complaint ID 9608261, and find that this resolution is satisfactory to me.

Review: This complaint is two fold. First, I am complaining because of the actual service I received from PennyMac and the loan office rand processor assigned to me. The loan officer and processor both failed to listen to my requests several times. Or they would say I could do something one way and then fail to allow it to be done. For example I requested from the start that my own title company handle the closing. Several weeks into the file I was getting calls and mail through Old Republic about my closing. I asked to have them call me on my cell number and not my office number. But against my request calls always came to my office number. The loan application was missing important data like wages even after just talking to the loan office about the correct data. Unreturned phone calls and emails. The biggest issue I had was the loan officer told me they could underwrite the file completely subject to the appraisal. Just in case there was an issue with finances I did not waste money on the appraisal. Well of course this did not happen and I paid for an appraisal. I did however, end up cancelling the file and switching companies before the appraisal was completed. This brings us to issue number 2. After cancelling the file we were told we would have a refund in 5 business days of the cancellation for the appraisal. Here we are three weeks later and we cannot get a hold of the loan officer or processor who told us we would see a refund. We have reached out twice in the past week with no response.Desired Settlement: My refund check sent to me immediately.

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

Consumer

Response:

PennyMac did finally send a refund check back to us after several phone calls and emails. While we are not happy how the file was handled and having to start over elsewhere we are satisfied with the fact we did get our refund. We are considering this matter closed.

Regards,

[redacted]

Review: As a first time home buyer, I decided to use PennyMac for their loan services. Everything seemed great in the beginning. I was very happy with Mr. [redacted]'s service. After several failed attempts to purchase a home I finally found my dream home and was willing to do almost anything to get it. So we start the process. This is where PennyMac's knowledge & service level began to fail! Halfway through the process we experienced a problem with the appraiser. It was taking much longer than normal for the appraisal report. After countless follow up emails and phone calls to Rico, he finally responded to my real estate agent. Assuring us that there was still lots of time and not to worry. TWO WEEKS later he decides to go with a different appraiser because he can't get in touch with the first one. A normal appraisal should not take more than a week. He also seemed to be asking for documents sporadically. Meaning every time I talked to him he required a different document. He should have given me a list of documents he needed from the start so I could get it all to him at one time, rather than asking me for different documents daily. That wasted a lot of time! In the end, we could not make the deadline. The Seller was nice enough to five me a few extra days. However, once we went beyond those few extra days they decided to incur a per diem fee. I believe that PennyMac is responsible for not meeting the deadline. Thus, they should be the one to pay for all per diem charges. Instead, they've disregarded this whole incident with a simple apology email and deny all fault. NO ONE SHOULD EVER USE THEIR SERVICES. THIS IS THE WORST BUSINESS IVE DEALT WITH. I CAN ONLY HOPE PEOPLE READ THIS BEFORE DOING BUSINESS WITH PENNYMAC.Desired Settlement: I am asking for full monetary compensation of all penalty per diem charges for two weeks. $61/day charged by seller ($732) PLUS two weeks of pro rated rent @ $30/day at old address ($420). Total compensation is $1152.

Business

Response:

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

PennyMac strives to provide superior customer service and process all requests in a timely and efficient manner. Upon receipt of the Revdex.com complaint a PennyMac Representative contacted Ms. [redacted] to address her concerns and provide her with a substantive response that will amicably resolve this matter.

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.

Please be aware that PennyMac makes every effort to keep the loan origination process as seamless and transparent as possible for all customers. While we understand that borrowers may have a desired outcome when submitting their requests, PennyMac is unable to guarantee that the outcome requested will be met as the loan origination and approval process is a complex transaction that requires a thorough and detailed review by our loan officers, processors and underwriters.

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

Review: My oragional mortgage was through CitiMortgage for $471.90 a month a 9.9% fixed interest rate for 30 years. This included just the mortgage, I pay the insurance my self through Germania and pay my taxes on my own. I was with CitiMortgage for several years when I got my monthly statement in the mail my payment had jumped to over $850 a month. When I called to find out what was going on they stated that my escrow account was empty and that they were charging me for 2 years of escrow payments. Break down of the number, yearly taxes-$1,650, yearly insurance-$750 for a total of $2400 per year. Divide that by 12 and you have $200 a month for escrow. However they were charging my around $370 a month saying they had to pay this years and have a savings for the next year too. After talking to them several time finally I though we had reached a conclusion. I was to send in a copy of my insurance showing proof that I had maintained it on my own as I said I did, then everything would be worked out on their end. It was about a month after all this happened, sometime around September 2011, that I recieved a letter saying that PennyMac had bought my load. The whole process started over. PennyMac saying that I owed around $883 a month in house payments. Again I had to talk to several people, sending in my proof of insurance several times and having a lawyer do it multiple times they still claimed they never recieved it. Finally after around three months, and me still making my normal payments of $471.90 I recieved a letter in the mail saying my house was being foreclosed on within two weeks. After calling PennyMac for what had to be close to the hundreth time the person I was dealing with was no longer available and the one I was now talking to had no notes or knowledge of the situation. So now in a rush to save my house I had to hire a lawyer at $3,000 to stop the foreclosure. PennyMac informed us that if the mortgage was brought up to current, including the $4,500 that I was being wrongly charged in escrow that I would be in the clear and my payments would go back to what they were suposed to be, $471.90. It also turned out that the payments I had been sending in were not credited towards my account because they were not the full $880 that they said I owed. Instead that money was placed in a seperate holding account. Also when my account was brought up to current standing the $4500 would be returned to me via check from them. So I took out a load for little over $11,000 and got everything paid off. Still to this very day PennyMac has not refunded the money it said it would. When I talked to a rep about it at first they denied anything about they $4,500 then another rep said The check would be processed out 4-6 weeks. After this time I called back, after going though several more reps they claimed that the money would be applied to my mortgage payments. Now when they call , which is daily, and all this is brought up they say that I have to bring my bill up to current and the extra money again will be returned to me which never happened in the first place. When this is pointed out that I have been through this with them already I am placed on hold and no one comes back on.Desired Settlement: Don't call me, use my email provided. I want proof of the conversations and that we are having and the statements that one rep is making and the other has no knowledge about. Fix my mortgage and get it back to the contract that I signed years ago. I pay the company for the mortgage and I pay my own insurance and taxes. Also credit the $4500 toward my account and remove all the escrow charges that you are still charging me.

Business

Response:

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

PennyMac strives to provide superior customer service and process all requests in an efficient and timely manner. A PennyMac Associate has attempted to contact Mr. [redacted] to discuss his concerns. PennyMac will continue to work directly with Mr. [redacted] to provide him with a substantive response that addresses and resolves his concerns.

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

Consumer

Response:

Review: 9764859

I am rejecting this response because: Yes PennyMac Contacted me and here is where the problem is again. As stated in my original complaint that I was required to pay the mortgage of $471.90 and the escrow of $380 that I didn't not wont cause I pay my insurance and city taxes on my own. Originally I was told when everything was caught up I would be refunded the years worth of escrow. ($380 * 12 months = $4560 refund). A month or two later when I never received the refund I began calling PennyMac, it was the same thing; "I don't see anything in here about it, let me put a note on the account and pass it to one of our other people". To this day they are still charging me escrow of $137.23 and they tell me I have to pay the back balance of that and they will send me a refund. Here's what I'm asking them to do, take the refund I was owed of $4560 and apply it to my account. Monthly payment $471.90 * 12 = $5662.80 - $4560 = $1102.80 there's my new balance and Ill get that paid right off. Both sides will be evened up and I can get back to making my normal monthly payment that I agreed to when I bought the house through CitiMortgage.

Called them and spoke to a gentleman named Jessie. We spoke on the phone and after we went over everything on my account we agreed the balance owed was close to $1500-$2000 which I told them I could have paid off by the end of the year. He took down all my financial information and told me I qualified for a interest rate reduction and all the paper work is being sent to me to fill out. He also stated that foreclosure proceedings stopped until I am either denied or approved for the interest rate reduction. Also of interest he told be I was approved for this back in January. I believe that is from the last time I filled all this paper work out. Why didn't I hear about that almost a year ago?? Right now I'm on hold for the escrow department, been waiting 10minutes and counting. After 46min on the phone they said they are experiencing high call volume and would have someone call me back when possible.

Regards,

Business

Response:

Thank you for providing PennyMac Loan Services, LLC (“PennyMac”) with Mr. [redacted]’s feedback and concerns. Please be aware that PennyMac continues to active work with Mr. [redacted] to address his concerns.

PennyMac strives to provide superior customer service and process all requests in a timely and processional manner. Allow me to apologize for the frustration and inconvenience that Mr. [redacted] describes while trying to address his concerns with PennyMac. Please be assured that PennyMac will continue to work with Mr. [redacted] to ensure that he receives a substantive response that addresses all of his concerns.

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

Review: I have a home mortgage loan that was sold from CashCall to PennyMac in November 2013. The original refinance contract with CashCall asked for an escrow account due to the finance to owned amount at the time of the appraisal. Despite having the correct due date for my home owner's insurance bill on file and listed on PennyMac's website under my account number, my home insurance premium was not paid until I called - once before the due date and then a second time after the due date. The premium was 10 days lated and incurred a $20 late fee that was paid out my escrow account and not reimbursed, despite being told by both phone calls that if there was a late fee then PennyMac would pay it. Despite follow-up phone calls and letters stating that I was previously uninsured and required their inflated rate home owner's insurance, PennyMac refuses to allow to speak to a manager or reimburse the late fee. I was told that I would receive a phone call or email and to this date (nearly one month later) have heard and seen nothing done. Now, I received a bill that states that my escrow payment will increase by $37/ month for no apparent reason. I assume this is to cover an increase in taxes, but do not know. I am frustrated with the lack of customer support, rude treatment I have received by the this company and its employees and all for someone with outstanding credit who has not missed any payments and even overpayed my mortgage payments.Desired Settlement: Refund of $20 into my escrow account and refund to me the entire escrow account with dissolution of the account completely to allow to pay my taxes and insurance myself as I had been doing for the previous 4 years without any problems or late fees. I would also like a letter from PennyMac claiming fault for their lateness in paying the premium as to resolve any credit issues I may incur later on.Thank you for your help.

Review: In August of 2013 I mailed a certified letter along with a cashiers check to payoff and receive the deeds to the property.I specifically stated in the certified letter if you wish not to accept this amount as payment in full return the check along with an explanation of what it would take to settle this account. Instead they cashed the check took out what they wanted then 2months later the harassment begin. I've had them call me and tell me that they can cash a payment in full check and then call and harass me for more money and take my home. I am filing this report with the Revdex.com so maybe someone other than myself and a court of law no that payment in full is just that.Desired Settlement: I want the deeds to my property, the harassment by way of phone and mail to stop. And I want an apology for causing me so much unnecessary stress.

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.

Review: Their practices are increasing my fixed payments dramatically. Furthermore, they are double billing. Also their reporting increases to my taxes late

In May 2014 they increased my fixed rate mortgage by a sum of 500.00 a month. When I made inquirires I was able to determine the county had increased my taxes and Pennymac was also double billing me for late fees. What happened was the county notified Pennymac in November 2013 that my taxes which were then 584.00/year were going up drastically to 3000.00 per year.

Penny mac did nothing, and did not bother to notify me until I made inquiries regarding my payment increase six months later. Then using this as an excuse they decided my fixed rate mortgage would go from 1500.00 per month to 2000.00 per month. They were able to do this with their math by stating I had to pay two years of taxes at once in a 12 month period. What they did was delay notification of the increase for six months to justify charging two years of increased taxes. They also charged me a late payment fee of 59.00 in May 2014. When I complained they stated they charged it for being late in February. However, in february I verified my wife already paid the late fee. So they agreed to take it off in may which means I only paid one late fee instead of two. Wow arent they being nice only charging me one late fee of $59.00 In their letter of May 16, 2014 signed by Rebecca Resnic of their research dept. they state the county incorrectly increased my taxes from 753.00 to 3016. However, Berkeley county sent me a notice which stated my taxes went from 584.00 to 3000 so it makes me wonder what other errors did they make.Desired Settlement: Since they are the ones who took six months to notify me of the change in my taxes, they should pay the first year and let me at least deal with the increase for the second year. It's their mistake, not mine.

Business

Response:

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

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

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

and allowing us the opportunity to respond.

Review: Upon the death of my ex husband I lost a monthly income that I was supposed to get from the military, that he paid into for me to have since we were married over 20 years active duty and 31 years total. When this happened I could no longer make my payments of over a thousand a month and am losing my home. I finally got a short sale offer on the home of 93 (it appraised for 90)thousand dollars. The house was approved by FHA for a short sale and the lender which my loan was transferred to in October is dragging their feet, the managers do not return phone calls and they are putting the loan and me through the same paperwork that I have completed for the original lender, FHA and themselves several times. The closing that was supposed to have taken place in December was not done because they had to get approval from their investor they said. The buyer extended the contract to Feb 13 and again my broker and I are getting the run around on getting things done. This broker is very familiar with short sales having closed over 400 in the last 5 years and is appalled at what is going on with this bank. Last night I got an email from what looks to be an attorney office saying I have 5 days to vacate the property. I think that since FHA has approved this home for short sale and it was through someone in their office that they should let the sale proceed. It looks to me like they are deliberately trying to foreclose on the property.Desired Settlement: For the company to expedite this and get the short sale approved since FHA is backing their loan and quit harassing me for more forms to be filled out that have in some cases been filled out 4 or more times already

Business

Response:

PennyMac Loan Services, LLC, (“PennyMac”) strives to provide superior customer service and process all transactions in a timely and accurate manner. Thank you for forwarding Ms. [redacted]'s concerns to our attention and allowing us the opportunity to respond. Please be advised a PennyMac is in the final stages of reviewing Ms. [redacted]'s request for a short sale. We appreciate Ms. [redacted]'s patience while PennyMac continues our review. At this time, PennyMac is pending a revised HUD from Ms. [redacted]'s agent in order to reach our final decision. A written response will be mailed to Ms. [redacted] once a determination has been made. 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: 10403291

I am rejecting this response because: The information requested and sent in by me was done back in October and in November I got information that I did not qualify for refinance through FHA because of my income after losing my ex husband's retirement from the military. The bank Penny Mac is the one that did the paperwork, review , etc for the FHA and the letter I got was from them. I find it irresponsible that when the review was taking place they were not using the same information for the short sale. Some of the paperwork has been sent in 3 or more times like it has been lost. The real estate agent has sent in all the forms they asked for from him again as of yesterday. The person we are dealing with says he has sent it off and requested approval for the short sale and then he sends something else mentioning that he needs it so he can "send off" so we never know where it is at. What we do know is that we had a December 19 closing for the house and because of sending in paperwork several times (I sent same day or next day) it was not able to close. By the grace of God the buyer extended the contract to February 13 so now we are waiting again for approval...over another month. Once this has been approved by FHA there is no excuse for them to drag their feet like this. I feel like they are deliberately trying to force house into foreclosure instead of allowing the short sale.

Regards,

Business

Response:

PennyMac Loan Services, LLC, (“PennyMac”) strives to provide superior customer service and process all transactions in a timely and accurate manner. Thank you for forwarding Ms. [redacted]'s concerns to our attention and allowing us the opportunity to respond. Please be advised that the documents required for a modification review as not entirely consistent with the documents that are required for a short sale review. Additionally, PennyMac must request updated documents from customers, once the documents we have on file has expired. Our records confirm that the Authorization to Participate form was received on November 25, 2014, and has an expiration date of March 24, 2015. Ms. [redacted] was informed that the HUD1 that was submitted to PennyMac, which was prepared by the Title Company, was incorrect; therefore, the HUD1 had to be revised and resubmitted in order for PennyMac to complete our review. PennyMac received the revised HUD1 on January 21, 2015. As the net amount on the revised HUD1 has now adjusted, the file has been resubmitted for decision. Please be aware that the incorrect HUD1 was not a result of a PennyMac error. We appreciate Ms. [redacted]'s patience while PennyMac continues our review. A written response will be mailed to Ms. [redacted] once a determination has been made. 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.