1.7
  • Friendly Staff1 votes
  • Their service and procedures2 votes
  • Lack of Help2 votes
  • procedures1 votes
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  • Jan 20
  • Loans and Mortgages
  • Richardson, Texas
  • Private Mortage Insurance
  • 73
  • REVIEW RATING 4/5

I requested PMI removal in May of 2014 after talking with a representative that said that I met both qualifications of being able to do so (which are having loan for at least 5 years and a loan-to-value ration of less than 80%). After telling me to remit my June payment without the PMI, the payment was then misapplied by PennyMac to late fees, and they sent me notice that the June payment wasn't... Read more

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  • From mobile
  • PennyMac
  • Jan 14
  • by anonymous
  • #582257

I hate this bank. My mortgage has been with them for a year now , for the past month all I have is incompetent workers not resolving a simple issue. Stop charging my escrow for flood insurance am not in a flood zone according to FEMA and the letter you send to me in the mail out as well. I have send numerous faxes, spoke to dozens of people and issue is still not resolve Add comment

  • Jan 13
  • Loans and Mortgages
  • North Beach, Maryland
  • Mortgage
  • 79
  • REVIEW RATING 4/5

For the second time in less than 6 months our automatically sent payment was paid by the bank yet Penny Mac claims the payment was never made. They also have stated that if I stop payment (as I did on their first payment mishap to make a payment over the phone so I am not charged late fees) I will have to remit any further payments with certified funds because it looks like we are unable to pay... Read more

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  • Jan 05
  • Loans and Mortgages
  • Loan
  • 106
  • REVIEW RATING 4/5

My loan was paid off on December 1, but PennyMac is refusing to release the $1,700+ held in the escrow account that is used for paying the property taxes and insurance. I have contacted them several times and have been told that it was being processed, but that they are working on it. What is there to work on? The loan was paid; there is money in escrow that belongs to the borrower -... Read more

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  • Dec 31, 2014
  • Loans and Mortgages
  • Los Angeles, California
  • Insurance Policy
  • 93
  • REVIEW RATING 4/5

I have had the same hazard insurance policy is force for 15 years. I sent the updated certificate to PennyMac evidencing that the policy was once again renewed. It was sent via fax because that is to only way to communicate - no e-mail. It was faxed three times by me and once by my agent. PennyMac did not update records and issued a lender forced policy at a cost that is twice market premiums.... Read more

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  • Dec 23, 2014
  • Loans and Mortgages
  • Norfolk, Virginia
  • Loan Refinance
  • 181
  • REVIEW RATING 4/5

Thought the process was going smoothly - loan officer and underwriting in place and then they never called back!!! Made several phone calls and no one called back. Charged me $375 for appraisal when appraisal done last year (they would not accept it) Appraiser was a ***. Said "give me the appraisal from last year and we'll just submit that." They still charged us $375. Lock ends in a few days... Read more

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  • Dec 12, 2014
  • Loans and Mortgages
  • Louisville, Kentucky
  • Loan
  • 1
  • 1
  • 283
  • REVIEW RATING 4/5

Penny Mac just bought our loan 2 months ago and we are already getting: 1) letters saying due to our "anticipated analysis of your escrow account", your mortgage payment is going up by $100 per month..,, yet to my knowledge, my property taxes and county taxes are not being raised; 2) "miscellaneous" $75 charges are being charged on our statements that they can't explain; 3) they have refused to... Read more

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  • Dec 05, 2014
  • Loans and Mortgages
  • Pasadena, California
  • Loan
  • 403
  • REVIEW RATING 5/5

I make an additional principle payment every month. Additional payment is clearly labeled in multiple places as an additional principle payment. Payment is sent via mail and normal payment debited from my bank account. The additional payment is suspended and held for months before being properly moved to reduce my principle balance. Went to the CFPB last year about this and a PM exec called... Read more

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  • From mobile
  • PennyMac
  • Nov 24, 2014
  • by anonymous
  • #561811

I had just finished a forbearance with citi mortgage on sept 21 2010. My loam sold to penny mac sept 23 2010. Penny mac never honored the forbearance and my only option was foreclosure. I just recently signed a died in leau. But from thevfraud i dont think my credit should be hurt by there fraud. Add comment

  • Nov 14, 2014
  • Loans and Mortgages
  • Beaverton, Oregon
  • Property Loan
  • 2
  • 2
  • 205
  • REVIEW RATING 4/5

They tried to charge me 3 times for my property rty taxes, made at least 5 calls and like all the other reviews have said different answers, and no one really cares!! Plus to talk to a superviser it could take from 24 to 48 hours to respond, wow how they care!! Now I have to wait for them to call, the worst company I have ever had to deal with!!!!! Don't ever use these people, steer clear!!!! I... Read more

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