We filed an insurance claim for storm damage Feb 2015. Our insurance company (State Farm) was prompt in issuing a check to us (with pennymac as an endorsee) for repairs to begin. The check was under $10,000 so, according to the guidelines provided by the claim center, we sent the unendorsed check in the envelope provided. That letter took over a week for acknowledgement of receipt. Then we were told that they were returning the check to us for us to sign and return with some other required paperwork. The check arrived in our mailbox TWO WEEKS LATER. We signed the check and returned it along with the other required forms - USPS registered, return receipt and overnight (in March). It took 7 more days for the checks to "be processed". Then we were told several times that the other forms were not received, yet we had proof that they were signed for. We even faxed the required documents to them twice before they admitted having them. The checks were cashed immediately according to our insurance company, yet pennymac claimed they were 'being processed'. Now comes April 16th, and still no check sent to us for repair of the roof. Our roofer wont fix it without money down, can you blame him? The rainy season is here now, so the roof is pouring water into the attic, through the ceilings, onto the floors, down the walls, in the subfloor and joists and under the house. Now we are experiencing mold contamination, still they keep the money and tell us the claim needs to be reviewed by "The investors". We find out that 'the investors' is pennymac loan services. So pennymac is holding money for review by pennymac to protect a pennymac investment that is deteriorating each day because pennymac wont pay to repair and protect a pennymac investment....wtf???We filed with the BBB, CFPB, State Attorney General and Arkansas Securities Dept now. Suddenly, pennymac has someone who is going to 'reach out' to the claims dept to expedite the claim??? yeah right... Then we find out our insurance company is going to cancel our policy because they sent us money to fix our damaged home...and it has not been fixed...AAAAARRRRRGGGGGHHHHH!
Reason of review: Poor customer service.
Monetary Loss: $20000.
Preferred solution: Full refund.
Pennymac Cons: Worst customer service ever, Their service and procedures, Procedures, Unwilling to own their mistakes, Lack of help.