My mortgage was sold to this company, or I would not have chosen them given the reviews. Original mortgage amount was 225K.
I paid 200K off the principal in 1 month leaving a balance of only 24K. I contacted them to have PMI removed and 3 weeks later, after 4 e-mails and 6 phone calls, still nothing! Now, they tell me I need to have an appraisal done because the original appraisal is more than 120 days old. When I made my original inquiry for PMI removal, it was well within the proper range.
Now, due to PennyMac incompetence, they expect me to fork out another $450 for an appraisal and I will get charged another month of PMI. I've never encountered such ignorance. Luckily, everything is documented. You cannot play with MY money.
Stop screwing people PennyMac! LITIGATION!!
Reason of review: Poor customer service.