Pennymac

My mortgage loan was sold by my previous lender, Lower, to PennyMac, and it has been a nightmare ever since. I have automatic payment set up on PennyMac's website to pay on the 1st of every month, yet I'm charged a late fee every month.

Whenever I call, customer service only succeeds in getting me upset to the point of giving up:

1. They either pretend not to understand or genuinely are incapable of understanding the issue.

2. They either have no clue what they are doing or no clue what they are saying. For example, I'm staring at the webpage on their own website, showing the monthly automatic payment.

Yet the representative would pretend to look up information only to come back after a long period to tell me that I don't have automatic payment set up with them. According to them, it's probably from my own bank and that my own bank may be late. All complete nonsense or intentional lies.

3. They would then transfer you to their supervisor, who would then argue with more nonsense.

All the while, everyone either has serious attitude issues or lacks proper customer service etiquette.

They would ask you to stop talking so they can assist you, while they only babble complete nonsense or contradict each other. Inconsistent with what their website states or their previous statements... All in all, chaotic conversations with poor service at the least.

4. Feeling hopeless with their phone customer service, I even wrote them a letter in January 2024, stating the issue explicitly.

Yet no one contacted me; there were no emails, letters, nothing, and the late fees still continue to apply every month! I almost contemplated selling the place to rid of them. It's that terrible!

5. Finally, I filed a small claims consumer complaint today.

I'm not sure if that will help.

I don't understand how PennyMac can stay in business when they consistently appear to defraud customers in various ways. I wish my original lender had told me they planned to sell to PennyMac; then, I would have chosen a different mortgage company to avoid all these hassles!

I recently contacted PennyMac in regards to my escrow hazard insurance. They are supposed to remove the escrow portion from my future payments.

The approval letter for escrow closing was on 7/29/24. I sent a message in their message center on 8/5/24 to ask when will my payment be adjusted. I have not received a response so today 8/25/24, I called to inquire about this since i have not seen an adjustment to my payment yet. The lady I spoke to said they responded to me 8/5/24 but i explained that there is no message for me in my message center.

That's why i am calling you. She insisted that there was a message. I told her the last message i have from PennyMac was on 7/13/24. She said my payment will be adjusted 8/15/24.

We will see if that happens. She also said i would have a 2 question survey after our call.

But, that didn't happen, it just disconnected. Very frustrated with this company.

I fled my house. Im a victim of abuse.

Another person was court-ordered to pay my mortgage and didnt. House went into foreclosure. I literally could do nothing about it. PennyMac lied repeatedly to me & even in court saying they would support a short sale so I could at least not lose everything.

So we didnt object when PennyMac sought a relief of stay. PennyMac knew the situation and conducted a foreclosure sale immediately 90k below market value on the down-low in bad-faith business practices. They are liars and cheats.

I plan to file priority complaints with the Feds. Worst abusers of allif Trump gets elected Im writing him a letter about these bastards!

My home was struck by lightning in June. We lost the downstairs AC unit and kitchen appliances.

Due to replacement costs we decided to file an insurance claim. The check was made payable to my husband and PennyMac. Because the temperatures are over 100 degrees in Mississippi we needed to expedite getting the check endorsed and returned to us. Little did I know I was in for the Battle Royale!

I called PennyMac to learn the appropriate steps for overnighting the check. Armed with instructions I immediately created a profile on Insuranceclaimchecks.com and discovered the process for getting the funds returned to me were unsatisfactory. I called PennyMac again and explained my circumstances and asked that my check be expedited and that the full amount of the funds be released at once. I uploaded the required documentation and provided the estimate for the AC unit to support the need for a lump sum payment.

I called again to verify receipt, then again a day or so later to check the status and remind them to pay a lump sum and overnight the check. Today I received a text message requesting that I set up an appointment for inspection. Inspection??? What are you inspecting?

Where's my check. I called PennyMac only to learn a partial payment of less than $4,000 was generated. What can I do with $4,000 when the unit cost approx $15,000? Despite multiple calls and chat messages no one in the claims department can help.

There are no managers. The resolutions department had a higher than usual call. I waited on hold for over an hour and no one from resolutions ever answered. I called every department at PennyMac I could reach and they all sent me right back to claims where I was told the same thing.

There are no managers, no other departments, the do not have a number for corporate, they don't take complaints, the resolutions team will call me in 24-48 hours, an I can try to reach resolutions tomorrow at 8 am pst. None of those answers are satisfactory! Meanwhile I have to go back home where the temperature inside is 91 degrees at night and my flooring is now peeling from the humidity and heat.

Who knows what else is being effected. This is ridiculous and I have no where to turn to for help!

My husband and I applied for mortgage assistance in May 2023. There was a significant delay in processing due to NO FAULT of our own.

I was constantly calling to check the status of the application, resubmit documentation that we had previously submitted and still no luck. I finally had to file a complaint with the Better Business Bureau and then magically someone called from the escalations department with PennyMac- he didn't escalate anything except my blood pressure! Three months later calling several times in one day and being transferred to every department within the company, I was finally connected with someone who had some common sense and was willing to assist me- at least that is what she told me. While she addressed one issue, she left the other issue unresolved and undocumented as if it was never discussed.

Specifically, she assisted me with the mortgage assistance but failed to reverse the late payment reporting to the credit bureaus. Since this time (August 2023), I have been going back and forth with them to get them to honor the reversal of the credit reporting. In September, I emailed to CEO, David Spector. I few days later, I received a call from someone named Angel who informed me that he had been authorized to contact the credit bureaus to reverse the adverse reporting.

He assured me that all THREE months would be taken care of for my husband and I. Of course I requested documentation and he stated that the letter would populate in the accounts' message portal by the end of the day. It was a couple of weeks before I would see that letter and to my surprise- it was not accurate. The letter stated that the reporting for June would be corrected.

Now what sense does that make?? You will correct June but not May and July as promised on a RECORDED call!!!

I am tired of calling and emailing and dealing with the lies! I am absolutely disgusted with this lender and will continue to report them until this issue is resolved!