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As a former employee and reading all these reviews, they are all correct. PennyMac takes customers monies and puts them in their holding accounts to gain interest then applies them where needed and you need to fight them to get it corrected.

Not only the customer has to fight but the employees as well when they clearly see the error. They don't know their head from their *** What do you expect, the owner is the former right hand man for the Countrywide head honcho. How they allow this company to continue to beyond me. They would make employees in CS push customers to try to get their loans reviewed for modifications even when they knew nothing could be done to the loan just so they tried to help with high paying mortgages.

When they would get new loans they didn't input info correctly and then would send out statements that the customer all of a sudden owes thousands of dollars months down the road As id customers had all this extra money sitting around. Just very scandalous it was horrible seeing all this.

Reason of review: Work Experience or Job Application.

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Anonymous
#1574943

Ok .. I got a letter from PennyMac stating that my escrow was short and that my payments were going from 985.22 to 1352 and some change! How do I argue this?

Anonymous
#1639718
@ashley kay - 682.554.2942

Tell them *** *** that you dont want any padding in escrow. Tell them you want to take out the exact amount of your insurance and taxes.

If your taxes and insurance do go up pay the 100.00 not the new amount. And again tell them you dont want them placinga cushion on your escrow.

They will pad it well above the legal amount and then turn around and send you a few small checks because they werent suppose to collect the amount in the first place. Screenshot these comments when you file your complaint with Attorney General and contact Senators and congress.

Emanuela
#1574884

Thank you so very much for speaking out truthfully against this company. They have been nothing but unethical, and unprofessional in all of their practices against me personally, and many other consumers. If you would like to join us, please file a complaint against them at https://www.consumerfinance.gov/ Hopefully, someone at the top will stop them from continuing their wrongdoing.

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