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Verified Reviewer

Do not trust them! They lie and do not hold your best interest | Pennymac

1.0
Details
We were given fals information and led us straight into foreclosure. As young first time home buyers they took advantage of us. We believed they were trying to help us when really they just saw an opportunity to to get ahead. Made promises that were not true and put us in foreclosure illegally. Worst company ever. We have been fighting them for over a year to keep our home and they refuse to help us. What they say and what your statements say are different and you never ever talk to the same employee and every employee assures you that they are right and the previous employee gave false information. A complete stressful mess. I don't know how they get away with all this.
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Review
#1749877 Review #1749877 is a subjective opinion of poster.
Service
Pennymac Mortgage
Pros
  • Will never use them
Cons
  • Service and procedures
  • Payment
  • Poor customer service and accepting of fraudulent practices
Reason of review
Poor customer service
Tags
  • Financial services
  • Home Loan
  • Misapplied Payments
  • Avoid Pennymac

This review is from a real person who provided valid contact information and hasn't been caught misusing, spamming or abusing our website. Check our FAQ

Verified Reviewer

Need information | Pennymac

1.0
Details
I need to find out who the foreclosure trustee is. It is import that we reach them
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Review
#1749859 Review #1749859 is a subjective opinion of poster.
Service
Pennymac Mortgage
Pros
  • Non what so ever
  • Will never use them
Cons
  • Poor customer service and accepting of fraudulent practices
  • Predatory lender
  • Being incorrectly charges for bogus property inspection fees
Reason of review
Poor customer service
Preferred solution
Let the company propose a solution
Tags
  • Avoid Pennymac

This review is from a real person who provided valid contact information and hasn't been caught misusing, spamming or abusing our website. Check our FAQ

Verified Reviewer
1.0
Details
Va Loan was sold to Penny Mac before the 1st payment was due I paid every payment ahead of due date and paid extra on principle The Website is glitchy and not working most of the time. In November they were upgrading their system and ended up with a major glitch. This...
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Review
#1748862 Review #1748862 is a subjective opinion of poster.
Service
Pennymac Mortgage
Reason of review
Poor customer service
Loss
$3298
Preferred solution
Deliver product or service ordered
Tags
  • Mortgage

This review is from a real person who provided valid contact information and hasn't been caught misusing, spamming or abusing our website. Check our FAQ

Verified Reviewer

Run as fast as you can | Pennymac in Moorpark, California

1.0
Details
My loan was sold to them within a month after getting my mortgage! They have been nothing but the worst since Ive had them. Theyre constantly raising my mortgage on a fixed rate loan and trying to blame it on taxes when my taxes have dropped tremendously! I do not recommend them at all!
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Review
#1735011 Review #1735011 is a subjective opinion of poster.
Service
Pennymac Mortgage
Cons
  • Being incorrectly charges for bogus property inspection fees
  • No communication
  • Mismanagement of payments
Reason of review
Bad service all the way around
Tags
  • Pennymac Home Loans
  • Avoid Pennymac
2.1
Details
Each year you’re find your payments go up (a lot) so when ours jumped $73 a month I called. Found out that my taxes and insurance went up but only a total of $11 so I find out that they add on what they call a escrow reserve amount of $62 a month I case our escrow goes...
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1 comment
Anonymous
#1788536

The Reserve Requirement is places on the loan in case there's an increase to you're taxes and when it's time to pay taxes and collecting at a rate to pay $5k(example here follow me) then taxes ended up being $6k for the year for whatever reason .Once the lender goes to pay for the taxes and they come up $1k short due to the increase they use the reserve requirement funds to cover the amount unexpected due to the increase to avoid the customer to go into the negative . In essence it's to help the customer from owing more money by collecting 2 months worth of property taxes & insurance in case of an increase we have a cushion so to speak of cash that was collected in a span of 12 months for this particular type of situation. Hope this helped you out-A Stranger on the Internet with no life

Review
#1721787 Review #1721787 is a subjective opinion of poster.
Service
Pennymac Mortgage
Reason of review
Pricing issue
Loss
$98
Preferred solution
Refund my overpaid escrow for Nov. 2019 and my over draft fees

Don’t mail in mortgage checks | Pennymac

1.0
Details
This company is pathetic. They act all nice over the phone but don’t give two craps about helping you. Last month, 25 Oct, I wrote a mortgage check. My mortgage was due 16 Nov. I watched my back account for over 2 full weeks for the check to clear. I kept calling them and they kept telling me it had to be the post office fault why they haven’t received it. On 15 Nov, the check finally cleared. 1 day before I would have received a late payment fee and possibly a bad credit hit or a 35 dollar check cancellation fee. Absolutely un acceptable that a check for over 2 thousand dollars was getting bounced around their company w out being deposited for over 2.5 weeks.
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Review
#1710869 Review #1710869 is a subjective opinion of poster.
Service
Pennymac Mortgage
Cons
  • Terrible customer service
Reason of review
Poor customer service
Preferred solution
Let the company propose a solution

Stay Away | Pennymac

1.0
Details
PennyMac has failed in almost every step of my lan process. They give great lip service but I had to follow up constantly. You never get the same person on the phone. STAY WITH A LOCAL LENDER, as soon the dust settles with my closing I am refinancing to get away from PennyMac.
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Review
#1709230 Review #1709230 is a subjective opinion of poster.
Service
Pennymac Mortgage
Pros
  • E-sign docs
Cons
  • Lack of follow through with promises
1.9
Details
PennyMac purchased my mortgage so I had to make payments to them. I selected that I wanted electronic statements during signup. They sent out a notice that they would bill a fee for the last 5 days of the grace period if I didn't sign up for electronic statements. So I...
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Review
#1693983 Review #1693983 is a subjective opinion of poster.
Service
Pennymac Mortgage
Cons
  • Unethical fees
  • Illegal fees
Reason of review
Access/ activation issues
Loss
$5
Preferred solution
credit my $5 back to my account.
1.0
Details
Last January I attempted to make my payment and the robot kept kicking me to another dept. finally they told mei had speak to someone about ReFi before I could make my payment. Filled out all paper work and had to pay appraisal fee then to lock rate and the lady took...
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Review
#1686325 Review #1686325 is a subjective opinion of poster.
Service
Pennymac Mortgage
Cons
  • Not honest
Reason of review
Bad quality

Contact Pennymac Customer Service

Website:
www.pennymacusa.com
Mailing Address:
3043 Townsgate Rd, Suite 200
Westlake Village, California 91361
United States
Phone:
(866) 549-3583
All Pennymac Contacts

Pennymac Reviews

  1. 224 reviews
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  3. 12 reviews
  4. 3 reviews
  5. 4 reviews
Pennymac reviews

Poor customer service | Pennymac

1.8
Details
I have had to call twice just to get my account set up. It is a known problem for them and somehow they offer no help once THEIR problem is resolved. I found their representative short, rude and unhelpfu.
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Review
#1679545 Review #1679545 is a subjective opinion of poster.
Service
Pennymac Mortgage
Reason of review
Poor customer service