PennyMac Loan Services

Review: I have been trying to get a letter from PennyMac for 16 days for our bank. PennyMac stated that the dept that writes up the letters has 10 days to have this letter done. I requested it on 07/06/2015 however that specific dept is stating that they did not receive the request until 07/13/15. Even if that's the case PennyMac is still over the 10 days they had to write this up. Every time I call I get the run around and the same answer "we put an escalation on it". Well there were about 10 escalations done on this and still no response. The CSR reps all have the same answer and they are the only ones with phones. I have requested 6 times to speak with a supervisor and they would never get on the phone. Well after 22 phone calls and 6 hours of holding I am no longer calling them. it is now 07/28/2015 at 9:51a and I still got the same answer. Sorry Maam this letter is not done you will have to call back another time! I once again asked for a supervisor and to my surprise I was put on hold and a supervisor is not available. In the mean time my deadline has already passed and have to start the process over.Desired Settlement: I would like the letter I requested be sent to me ASAP.

Business

Response:

Thankyou for bringing this matter to our attention and allowing PennyMac LoanServices, LLC (“PennyMac”) the opportunity to review and respond to Ms. H[redacted]’concerns.PennyMacstrives to provide superior customer service and respond to all inquiriesin a timely manner. Upon receipt of the Revdex.com notification, a PennyMacRepresentative attempted to contact Ms. H[redacted]on July 28th, and July 30th, 2015, to discuss her concerns. The information Ms. H[redacted]' requested was provided to her via fax and FedEx on July 28, 2015.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. An detailed letter of explanationwill be sent to Ms. H[redacted] under separate cover.

Consumer

Response:

I have reviewed the response made by the business in reference to complaint ID 10737962, and find that this resolution is satisfactory to me.

Regards,

H[redacted]

Review: On January 6, 2014 PennyMac took 2 mortgage payments out of our checking account. I immediately noticed this the day it happened so I called them. I spoke to a customer service representative and she said they were aware of the situation and I could either apply the extra payment to next month or they could send me a check. I asked if my bank could return the extra payment and she said that wasn't an option but they could send the check overnight so I agreed to that. The next day I did not receive the check so I called them again. I spoke to Rebecca and she told me the check was sent out January 7 but in regular mail. They weren't overnighting any checks. One customer service rep told me we could have had the money wired to our account but we would have to pay the wire fees! I spoke to a supervisor January 14 and she told me they notified all of the customers this affected and gave them the option of overnighting a check or wiring money to your account, the customers they couldn't get a hold of were sent a check in regular mail. I called the morning this happened but was still sent a check supposedly. This supervisor also told me our check was sent out January 8, not the 7th as previously told. On January 15, a supervisor called to see if we had received our check yet and I told her no so she was going to check to see what she could do to get our money back to us and would call me right back. That was 2 days ago and she still hasn't called me back. I have called PennyMac numerous times and have spoken to different people and have got a different story from each one. They are basically giving me the run around and wonder if they have actually sent a check. I left 2 messages each for a supervisor and a manager and neither have returned my calls. As of today, we still have not been refunded our money. PennyMac has handled this situation so poorly. The extra mortgage payment should have been direct deposited back to our checking acount the next day.Desired Settlement: I want my extra mortgage payment refunded back to my checking account, not in a form of a check.

Business

Response:

Thank you for bringing this matter to our attention and allowing PennyMac Loan Services, LLC (“PennyMac”) the opportunity to review and respond to Ms. [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, our office completed a thorough review of Ms. [redacted]’s loan to verify the status of her request. Our review confirms that Ms. [redacted] was in contact with a Customer Service Manager that provided her with a substantive response addressing her concerns. PennyMac confirmed that Ms. [redacted]’s request for a refund was expedited by the Manager. An apology letter and explaining the situation was sent to Ms. [redacted] under separate cover.

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

Business

Response:

As previously explained, upon receipt of the Revdex.com notification, our office intervened to ensure that Ms. [redacted]'s concerns were properly addressed. Once again we would like to apologize and express our regret for the inconvenience and frustration that she experienced while trying to resolve her concerns with our Customer Service Department.

Review: To whom it may concern,

I'm having problems with PennyMac. This company was working with First Alliance Processing to modify my loan. The paperwork was sent to me 2 and a half weeks ago from Pennymac to be notarized. First Alliance has the paperwork in their possession. The loan modification paperwork has not been notarized as of yet. Meanwhile, the loan company is threatening foreclosure, despite the progress being madeDesired Settlement: I would like a call from the representatives in the loss mitigation department who handle loan modification requests. I would also like some clarity on the next steps to resolve this from both PennyMac and First Alliance. The collection calls from Pennymac are a nuisance and they do not accomplish anything.

Business

Response:

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

Review: This company continually fails to process online payments only to charge late fees. When you process a payment you get a confirmation number but it IS no guarantee that they will actually withdraw the funds as scheduled. they don't inform you of the failure until AFTER you have been charged a late fee. at which time you have to have PRINTED confirmation page the number itself is not good enough. when asked how am I supposed to assure that it is scheduled I was told I must check and see if money has been withdrawn from my account and if it has not I have to go in and redo. WHY? I have a confirmation number? "oh that does not mean anything." WHAT?!? yes its just a glitch but you have to pay a late fee.We were not given a choice this dirty dealing company bought our loan from Bank of America who bought from someone else. we never had a previous issue. This terrible disreputable firm has already told us that "they didn't receive our check" when we mailed it in even though they had CASHED IT!! I can't believe these crooks are allowed to operate. we have never been late on our mortgage in all our years of home ownership now they are trashing our credit this is just ridiculous. they should be in jail.Desired Settlement: I would like them to address their disreputable practices. remove the late fees, reporting of the late payments and get their terrible website fixed if that is truly the issue. we are obviously not the only ones to have exactly the same issues the internet is FULL of documented cases of their disreputable practices.

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. and Mrs. [redacted] on October 23, 2014, to discuss their concerns. Ms. [redacted] was provided with a substantive response that addresses their concerns. PennyMac confirmed that web site concerns as they relate to making payments will be researched. Furthermore, PennyMac confirmed that no derogatory credit reporting was submitted. An apology letter for their frustrations and letter of explanation will be sent to Mr. and Mrs. [redacted] under separate cover. PennyMac values and protects its customers’ confidential information. Due to privacy reasons, we will refrain from posting any personal information to the Revdex.com site as we do not disclose our borrowers’ personal information.

Review: I have to refinance my existing loan I have with pennymac. I am trying to refinance with another company. Pennymac has refused to cooperate so I can go with another company. I am in good standing with pennymac. They refuse to release my loan to another co.. I do not want to remain with pennymac. I feel as if they are holding me hostage. Can you help me resolve this.Desired Settlement: be released from this company so I can refinance with another company

Review: I have had Pennymac as my loan company for my mortgage for 3 years. In that time, they have double billed me, not taken payments, and have engaged in business practices that were unclear to me as a customer. They have also repeatedly changed my contact information to my co-borrower's information instead of my own, despite my repeated attempts to resolve the situation with them. My biggest issue is the payment I made on 8/29/2015. The funds were sitting in my bank account for an entire week. We had sufficient funds to cover the payment. PennyMac never took the funds out and then later told us we had a Returned Item Reversal 9/4/2015. They did not explain why or go into any detail on the situation. Instead, they insisted that I would have to pay my most recent payment by money order. Having done so, I contacted them today, 10/20/2015 and was told that due to two Returned Item Reversals, I will have to pay through money order for the next 12 months because I cannot make my payments on time. This is insulting. My account information should be made available to me and I should have a right to appeal a decision they made due to their own mistakes. To my knowledge, I know of no other Returned Item Reversal other than the one they made on 9/4/2015 that again, they never warned me about. This is not how a loan company should do business and they should be investigated.Desired Settlement: I would like a right to appeal their decision. I would also prefer if they were no longer my mortgage company.

Business

Response:

I have discussed Ms. Egnak's complaint and options have been provided. The complaint has been resolved.

Consumer

Response:

Review: 10869077

I am rejecting this response because: only one option was provided. Company never discussed if they had made a mistake with my account. When they said they would investigate what had happened, I was never given the results of that investigation which leads me to believe this was a company error. The option offered was not satisfactory. In addition, after complaint was made, company went ahead and did exactly what I had complained about before by contacting the wrong person.

Regards,

V[redacted]

Business

Response:

Please be advised that a formal response will be mailed to you within 30 days from the date you sent your request to the Revdex.com. 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: Being overcharged on my fixed rate loan.

Account_Number: [redacted]4Desired Settlement: They have raised my fixed rate loan from 1500.00 to 2000.00 per month. My rate was 2.5% fixed and now they think I'm going to pay them 2.75%. Also, they are billing incorrectly, attempting to double bill me on escrow because they made some mistake. I called and spoke with a 'Justin' who was unwilling to correct the numerous mistakes they made which increases my mortgage. My loan # is [redacted]4. Also, they are charging me a 59.00 late payme

Business

Response:

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

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

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

allowing us the opportunity to respond.

Review: In the beginning I was truly satisfied with Penny Mac, but after a year it seems that everything just spiraled out of control. First I was advised I had to pay flood insurance, which I purchase and provided documents before dateline ok I had to deal with some additional cost added to my mortgage. but the kicker was when I received my mortgage statement it was $600 more than my original mortgage. The flood insurance was little over $1700 a year and several more additions was added which made it go from a little over 9 hundred dollars to right at $1600 a month. Which I address the issues with the mortgage company they asked me to provide to them with some documents and My insurance company faxed the information and called several times and they claim they did not receive it each time. I switched insurance companies, got my agent to contact the mortgage company and the agent stated that he having to go back and forward with them about them receiving the flood documents as I explain happened to me early in the passage. Due to the mortgage company claiming they didn't received the document they provided me with their flood insurance which cost 1700 a year. The flood insurance I have is only 430 a year. I'm not sure if its they company or maybe they just have loafer on their team. Which could reflect on the company's reputation. It's going on three months and this problem still haven't been resolved. That's 1800 dollars I could have to do something else with. Times are too hard to be giving away my money because someone decided they DO NOT WANT TO DO THEIR JOB.Desired Settlement: Due to the fact that I provided document of flood insurance before the dateline. Refund unnecessary money spend and someone to take care of their business. Get the paperwork done and mortgage adjusted to the correct amount. JUST DO A BETTER JOB WITH PEOPLE MONEY

Business

Response:

Thank you for bringing this matter to our attention andallowing PennyMac Loan Services, LLC (“PennyMac”) the opportunity toreview and respond to Mr. Br[redacted]’ concerns.PennyMac strives to provide superior customer service and respond to allinquiries in a timely manner. The PennyMac representative assigned to address Mr.Br[redacted]' concerns attempted to reach him on July 20, 2015. Please be assured, PennyMac is currently in theprocess of researching Mr. Br[redacted]' concerns regarding the flood insurance and a letter of explanation will be sent toMr. Br[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: PennyMac bought our loan from Citimortgage.I have had 3 surgeries in the last 14 months and am waiting to see if I need another one.I am out of work.The people at this company are rude and do nothing to help.When we tried to remodify our loan they told us to sell our house not even checking to see if there was a program for them to offer us.They brought us up an extra 100.Now how does that help.They know we can't afford to pay the current loan,so how would we pay an extra amount of money.We have gotten caught up twice and they called us every day 1-3 times.They harassed us at work and left messages everyday at home.I told them they were harassing us because we weren't even behind at the time but they continued to call.I read the complaints about this company and there were 14 .Not one was positive.We requested paperwork to try this again and they never sent it to us.All we got was a letter from an attorney about foreclosing.They didn't even give us the opportunity to pay by the 15th.When we made our last payment the agent told us that since we were still trying to make payments it would be better for us to fill out the paperwork in which they never sent us.I have never dealt with a company like this.They are scam artists .They say they don't want our house but they hound us all the time.We are fed up.Isn't there a way to obtain another mortgage company /There are adds all over about Obama financing but when we inquired about that those programs don't exeist.Please help.I don't know where to turn and I may be looking at another surgery.Desired Settlement: a mortgage company that tries to help and to lower our payments even if its temporarily.

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.M[redacted]’s concerns to our attention and allowing us the opportunity to respond. Upon receipt of the Revdex.com notification, our office completed a review of Ms. M[redacted]’s loan to ensure that her concerns are addressed. A representative from our office called Ms. M[redacted] toprovide resolution as it relates to her request regarding her request for payment assistance. PennyMac is in the process of finalizing a written response in regards to researching her concerns.PennyMac values and protects its customers’ confidential information. Due to privacy reasons, we will refrain from posting any personal information to the Revdex.com site as we do not disclose our borrowers’ personal information.

Review: PennyMac has for the THIRD time lost my payment and are threatening to send me to collections. This is beyond ridiculous. They purchased my mortgage 3 years ago, since then they've accused me of not paying 3 times. I use bill pay through my bank and have never missed a payment. When PennyMac investigates they say the money was applied to a different account so clearly it was their fault, but they still try to blame my bank. This is just incompetence. I'm so mad and feel like I'm helpless to do anything about it. I could refinance, but then PennyMac could end up buyin that loan also!!Desired Settlement: I feel like I'd be asking too much for them to just do their job and quit losing my money, but I think I'm talking to a wall. Honestly, what I would prefer is to not do business with them any longer but it seems I don't have a choice.

Business

Response:

Thankyou for bringing this matter to our attention and allowing PennyMac LoanServices, LLC (“PennyMac”) the opportunity to review and respond to Mr. and Mrs. L[redacted]’sconcerns.PennyMacstrives to provide superior customer service and respond to all inquiriesin a timely manner. Upon receipt of the Revdex.com notification, a PennyMacRepresentative contacted Ms. L[redacted] on August 21, 2015, to discuss her concerns. PennyMac confirmed that their payment was received and applied to theirloan. Furthermore, PennyMac confirmedthat no late fees were assessed to the loan and no derogatory credit reportingwas submitted as the payment was received in a timely manner. An apology letter and letter of explanationwill be sent to Mr. and Mrs. L[redacted] under separate cover. PennyMacvalues and protects its customers’ confidential information. Due to privacy reasons, we will refrain fromposting any personal information to the Revdex.com site as we do not disclose ourborrowers’ personal information.

Consumer

Response:

I have reviewed the response made by the business in reference to complaint ID 10770967, and find that this resolution is satisfactory to me.

Regards,

J[redacted]

Review: I am extremely frustrated and disappointed in my experiences with Pennymac customer service. I receive constant requests for updated insurance. When I send the updated information and call or email to confirm what is needed, I continue to receive letters. I have notified the agents that their service is extremely inconveniencing me. I will strongly discourage others from dealing with this company unless I see resolution.Desired Settlement: I would like to speak with management and administration to understand why the company is so poorly organized and what can be done to end my receipt of these letters.

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 attempted to contact Mr. [redacted] to discuss his concerns. Regrettably, attempts to contact him have been unsuccessful. PennyMac has mailed Mr. [redacted] a checklist itemizing what is needed on his master policy and provided a direct contact to address his concerns.PennyMac values and protects its customers’ confidential information. Due to privacy reasons, we will refrain from posting any personal information to the Revdex.com site as we do not disclose ourborrowers’ personal information.

Business

Response:

Thank you for bringing this matter to our attention and allowing PennyMac Loan Services, LLC (“PennyMac”) the opportunity to review and respond to 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, PennyMac contacted Mr. [redacted] to address his concerns. Our office has provided a direct phone number while research is in progress.PennyMac values and protects its customers’ confidential information. Due to privacy reasons, we will refrain from posting any personal information to the Revdex.com site as we do not disclose ourborrowers’ personal information.

Consumer

Response:

Review: 10173351I am rejecting this response because:

Review: I did a streamlined refinance of my FHA mortgage in the Fall of 2012 and I was told that all elements would remain the same, including the impound account with taxes and walls in homeowners insurance (I have a condo). Pennymac bought the loan and in July of 2013 I received a notice that my homeowners insurance was about to be cancelled. I immediately called Pennymac to alert them and find out why the insurance was never paid. Pennymac told me that they do not require walls in insurance and therefore did not have it set up. I confirmed that it was supposed to be coming out of my impound account and they said that I just needed to call a specific division within Pennymac to authorize the insurance payment out of the impound account. I did that and was assured that everything was taken care of. In February of 2014 I was logged on to my insurance company website to pay my auto insurance and discovered that I literally did not have homeowners insurance because Pennymac had not paid it. I immediately called Pennymac to find out what had happened and literally no one could help me. Their only response, despite my repeated explanation of speaking with the insurance division and authorizing the payment, was that they do not handle or require walls in insurance. Frustrated, I just paid the insurance out of pocket and restarted my account. In March I received notification that my impound account did not have enough money in it and I was going to start being charged extra. Some of this was for property taxes and some of this was for insurance! I called and they told me that based upon my call in February they had set up my insurance and I had double paid on the homeowners insurance by paying out of pocket. I insisted on a conference call with my insurance company, who confirmed that Pennymac had not paid the insurance and the only payment they had was my personal payment. Since then I have been trying to get them to remove the extra $519 from my payment bill. I have been told on several occasions that this was in process. I have also occasionally been told that I could not remove this insurance since it was required, which is in direct opposition to what I was told when my insurance was never paid. Several customer service people have told me they were escalating the issue and would have it resolved within a few days. I then never hear from them again. Here are three of those people: Kimberly at ext. 7669, Albert at ext. 7744, Wade at ext. 5125. I then finally got ahold of Brett Wright, Customer Service Supervisor at ext. 5162. He assured me that he was personally working on this and would have it resolved prior to the May 1 payment date. He stopped responding to me on April 24, despite multiple emails and voicemails left for him. My homeowners insurance is paid for. I do not want to pay double for this, especially since Pennymac has not actually paid for the insurance despite their claims. How do I resolve this?Desired Settlement: I need the "walls in" home owners insurance removed from the impound account and not to be charged for it on my 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. C[redacted]’s concerns to our attention

and allowing us the opportunity to respond.

Upon

receipt of the Revdex.com notification, a PennyMac Executive Research Associate contacted

Ms. C[redacted] on May 6, 2014 to discuss her concerns. Ms. C[redacted] was advised PennyMac would

complete a thorough review of her loan.

She was also provided the direct contact information for an Executive

Research Associate, should she have any further questions or concerns while

PennyMac reviewed her loan. At this time

our review is still in progress. Upon

the completion of our review, a follow up call will be made to Ms. C[redacted], in

addition to a written response being mailed to her attention.

PennyMac

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

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

borrowers’ personal information.

Review: PennyMac Loans, LLC has violated Federal Regulations and have abused their authority as a lender. I am currently in active foreclosure, due to the lack of service (which I feel was intentional). I have contacted PennyMac Loans, LLC numerous times from 12/2013 - 3/2014 requesting the LOI (Letter of Intent to Foreclose) or a letter indicating the balance due so that I can request a hardship withdrawal to bring my mortgage current. Each rep stated, the letter was requested and will be sent to me withing 5-7 bussiness days. After following up on my requests, the rep had indicated that the LOI was requested and sent certified mail. I explained that no such letter was rcvd and that the letter at hand was a loan payoff letter (to payoff my entire mortgage). Upon further inquiry, I requested the certified mail tracking #, which the rep stated there was NONE. I finally was able to obtain the "reinstatement figures letter" and processed my withdrawal. Now the attorney retained by PennyMac is disputing the balance, I indicated that the letter sent to me by the lender was faxed the week before the attorney's ac letter was received. The attorney ([redacted]), further indicated that the lender was in violation of federal law and should not be sending me any corresondence due to the forclosure status. Now the attorney office is stating to hold off on the payment until the letter is verified.Desired Settlement: Immediate resolution and or further investigation is needed. I want PennyMac Loans, LLC to accept my payment in full. I want all incurred fees to be waived (late, legal, etc.)

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; however, do to the sensitive nature of the borrower’s

concerns, we must refrain from providing a detailed response to the Revdex.com

regarding this matter. Please be advised that our office spoke to Ms. [redacted] on April 3, 2014, to address her

concerns. A substantive response was

provided to Ms. [redacted] and an amicable resolution was provided. PennyMac will continue to work with Ms. [redacted]

to ensure that all her concerns are addressed and resolved.

PennyMac values

and protects its customers’ confidential information. Due to privacy

reasons, we will refrain from posting any substantive responses to the Revdex.com site

as we do not disclose our borrowers’ personal information.

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

Review: Penny Mac Loan Services holds my mortgage. In early February I recieved a letter of the Annual Escrow Account Disclosure Statement (dated 1/14/14) and it stated that I had an escrow shortage of 100.49. It also noted a Delinquent Assesment in the amount of 100.44 for May of 2013. For the next 12 mortgage payments I would be charged an additional 8.37 (starting 3/1/14) to pay for that. I purchased the house in April of 2013 and there was a snafu by the closing company in paying the prior years property taxes. I thought that may have explained the shortage. I called Penny Mac to try and understand/confirm that was where the charge originated. If so I could then contact the Closing Company and have them reimburse me for the 100.44 for their mistake.I spoke to a representative named Kameka for about 40 minutes up to an hour. Kameka put me on hold several times to do some research. She finally explained that the charge was an error, and that several other mortgages in the state of Virginia also had errant charges on the escrow disclosure statement. She told me she would remove the charge and that my mortgage payment would not increase by 8.37. I was surprised, but glad I wouldn't have to make any further phone calls. I asked Kameka to send me a confirmation e-mail entailing what we discussed. She said she could not. It was their policy to not send e-mails. I wanted some means of proving the matter was resolved. She said that they would have records of it (called a Request ID#1120118).2 weeks later I received a mortgage bill stating that I did owe an additional 8.37. I called again 2/21/14 and spoke to Crystal and after waiting for 1hr and 20 minutes she explained that the 100.49 was a valid charge and that I did owe that money. I was upset because had I not been misinformed I could have taken care of that 2 weeks ago instead of facing additional fees on 3/1/14. I again asked for e-mail confirmation and again was denied. I spoke with the supervisor Tevar and he did not resolve.Desired Settlement: 1) I would like to have some means of documenting the issues I discussed with the Customer Services Representatives at Penny Mac. I asked for an e-mail, they said no. I asked if I could receive an e-mail from the secure message center on their website, they said no. I thought that was the purpose of the secure message center. 2) I would like Penny Mac to employ competent Customer Service Representatives that will not misinform customers. Either through education or personnel change.

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 and professional manner. Please allow me express by regret and apologize for any inconvenience and frustration that Mr. [redacted] may have experienced while trying to address his concerns with PennyMac. His comments and concerns are greatly appreciated and be assured that Senior Management was apprised of his feedback.

A thorough review of the loan was completed as it relates to the information Mr. [redacted] received regarding the payment of your property taxes scheduled for September 2013. Please be advised that PennyMac received information from Mr. [redacted]'s Taxing Authority of an unpaid supplemental tax bill on May 14, 2013. PennyMac was advised that in order to disburse the payment of the pending property taxes, the supplemental tax bill had to be paid prior. A disbursement was issued from Mr. [redacted]'s escrow account prior to PennyMac disbursing the payment of his secured property taxes due.

As a result of the payment of the unexpected supplemental tax bill, when Mr. [redacted]'s loan was analyzed, the additional disbursement created a shortage in the escrow account that caused the increase to the monthly payment. Regrettably, Mr. [redacted] was misinformed as to the type of disbursement processed on the loan. The amount paid was not a fee assessed to the loan, but a payment of property taxes. PennyMac would not be able to waive or reimburse the account for such a transaction.

Please be advised that PennyMac is in the process of providing Mr. [redacted] with a detailed and substantive response that will address all of his concerns. A letter will be mailed to Mr. [redacted] under separate cover with our substantive response.

Consumer

Response:

Review: 9938574

I am rejecting this response because the respondent for Penny Mac failed to address one of my concerns. The respondent is correct in asserting that the escrow shortage fee is legitimate. I have contacted the party responsible for that oversight and have received my reimbursement. Additionally I have updated my automatic payments to reflect the new increased escrow amount. The respondent also addressed the inaccurate information I received from one of the customer service representatives, as the respondent put it, "misinformed as to the type of disbursement processed on the loan". What the respondent failed to address were the policies of the Customer Service Representatives that will not allow e-mail or any alternative communication that would provide some convenience to the consumer. I asked the representative if she could send an e-mail detailing what was discussed, she said no. I asked if she could then just forward my case or file number to my e-mail, she said no. She said that they had a policy that would not allow them to e-mail. I asked if there were any other means by which I could confirm for my records the topic of our conversation, she said there was not. On the Penny Mac website there is a Secure Message Center, I asked if they could send my information via Penny Mac's own secure message center, she said no. That is when I asked to speak to the supervisor. Because she must have been mistaken, surely if Penny Mac has a secure message center, then its purpose would be to send secure messages to customers. But the supervisor confirmed what she said, they could not send a message to me via their own secure message center. So through this fiasco I have no records of what transpired. They have records (case number 1120118), but I have no records, because they refused to send me anything. I find it interesting that this policy is in place, it seems the goal is to keep the customer in the dark (or on the phone for 3 hrs, frustrated and in the dark). I don't mind mistakes, they can be corrected by a decent customer service department if there is adequate communication. But this asinine policy of preventing customers receiving any shred of documentation must be rescinded. Again I was given faulty information by the first representative, and I never received any type of follow up, or update. I had to contact them again 2 weeks later. I ask the Penny Mac respondent, what is the Secure Message Center for if not to receive secure messages? It seemed to be an appropriate time to send me some sort of communique. A positive step from this dismal experience would be to allow some form of e-communication when a customer and customer service representative conduct a conversation. Again I would make the recommendation that it be the Secure Message Center that is already a part of their website. The respondent will likely take it into consideration, or management will be made aware, but nothing will be changed, because I suspect they like keeping people in the dark.

V/R

Business

Response:

As we previously advised, a substantive response was prepared and will be mailed to Mr. Pennington addressing all of the concerns mentioned in his initial correspondence to the Revdex.com shortly.

Please be aware that PennyMac Call Center Representatives are not permitted to send emails to customers as our email server is for internal use only. Messages sent to external recipients are sent through an unsecured email server. PennyMac values and protects its customers' confidential information and will not send any detailed loan information via an unsecured source.

PennyMac does offer a Secure Message Center for borrowers to interact with PennyMac to receive detailed loan information; however, the Secure Message Center was established to respond to borrower inquiries and at the moment is not set up to send unsolicited new messages to customers. Messages sent to PennyMac's Secure Message Center will be responded by PennyMac with detailed loan information as the borrower is required to log into his/her personal account only. Mr. Pennington can log into his online account and initiate a message to PennyMac via the Secure Message Center and PennyMac will provide him with a detailed response.

Once again, thank you for allowing PennyMac the opportunity to respond.

Review: I HAVE BEEN TRYING TO WORK WITH MY LENDER FOR A LOAN MODIFICATION/ATTORNEY GENERAL NATIONAL MORTGAGE RELIEF SETTLEMENT. MY LENDER HAS BEEN DELAYING CONSIDERATION OF THE MORTGAGE APPLICATION, "LOSING" DOCUMENTS, CONSTANTLY REQUIRING ADDITIONAL ITEMS, MAKING ME SUBMIT NEW DOCUMENTS BECAUSE THE ONES ALREADY SUBMITTED ARE TOO OLD(BECAUSE THE LENDER DRAGGED ITS FEET), DUAL-TRACKING(FILING A FORECLOSURE COMPLAINT WHEN A MODIFICATION APPLICATION IS PENDING). WRONGFUL DENIALS ON MY FILE. NEGATIVE CREDIT REPORTING ON MY CREDIT REPORT.Desired Settlement: I WOULD LIKE TO AN APPROVAL FOR A PERMANENT LOAN MODIFICATION THRU THE MAKIG HOME AFFORDABLE PROGRAM. ALSO REQUESTING SOME TYPE OF DISPLINARY ACTION AGAINST MY LENDER.

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 understands the challenging financial environment that exists today and the impact that it is having on many borrowers’ ability to make their mortgage payments. Helping our customers to effectively manage through these financial hardships is at the core of PennyMac’s mission. Please be assured that efforts are made by PennyMac representatives to accommodate our customers’ requests for assistance; however, in today’s financial environment there are very stringent guidelines that PennyMac must adhere to.

Please be advised that based on the status of the loan, PennyMac is unable to discuss or provide details pertaining to the servicing of the loan. Mr. [redacted] or his attorney will need to contact PennyMac directly to discuss his request for mortgage assistance.

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

Review: I took out a loan with W R Starkey in 2012 & my loan was soon transferred over to PennyMac. My loan was a Conventional Loan w/ PMI. When I went to make my payment online to make my August payment on Monday, July 29 the amount due was different than that shown on my statement. I called to inquire & was told that my account had been updated & my loan was changed from a Conventional Loan to a FHA loan with a monthly PMI. My payment had increased by $132.53. I didnt understand how they could change my loan without my knowledge or consent & expressed this to the representative I spoke with. We paid ALL of our PMI up front & now I was being charged a monthly PMI. I was told it would be requested for research. On August 2 the $132.53 was taken out of my account anyways. On August 5, 2013 I received a letter from PennyMac stating that my monthly payment had been corrected back to the original amount. They had corrected my mortgage type because it should have never been changed in the first place. Also on the letter it was stated that a refund had been requested for the $132.53 that had been taken out of my account. On August 19 I called because the refund had still not been made & was told they could see the request had been made but it had not been issued & another request for research would be made & to check back on Friday. On August 23 I called again because still no refund, spoke to 2 supervisors (Katina Beckham & Sandra Isidro) throughout the day & was finally told that they would "advance" me the money that they had INCORRECTLY taken from me but it would still take even more time. This is unacceptable customer service, while the representatives that I spoke with were friendly they still haven't gotten the job done & given me the refund that I am owed due to a major error on their part!!Desired Settlement: A refund for the $132.53 taken out of my account & compensation for the time, trouble, & mental anguish their error has caused me & my family

Business

Response:

Thank you for bringing this matter to our attention and allowing PennyMac Loan Services, LLC (“PennyMac”) the opportunity to review and respond to Ms. Denson’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. Denson to address her concerns and provide her with a substantive response that would amicably resolve this matter. Please be assured that Ms. Denson’s request for a refund was processed by PennyMac.

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

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