1.0
Details
I am in middle of filing a class action lawsuit on Penny Mac for illegal business practices, fraud, violation of consumer rights . The federal government is also involved . If there is anyone out there who have been wronged by this company , please reply and or contact...
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117 comments
Mandela
#1777457

I want in on this! I write checks for our mortgage for the sole purpose of paper trail and proof.

Only time I write a check! I open the statement tonight when I get home from work and they claim we owe them a ridiculous amount! Statement says we are 48 days past due. Called the bank as we have a separate account just for the mortgage, it’s not used for anything else and 2k is deposited a month which is more than what our mortgage is.

This company has in fact received the payment for September and October. They are trying to pull something shady and I’m not interested.

We do our part and pay them they need to be held accountable and do their job by applying my payments to my loan! My email is Lindsay.b.conlon@gmail.com

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Review
#1067092 Review #1067092 is a subjective opinion of poster.
1.0
Details
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,...
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28 comments
Dionna
#1798228

Dealing with the same issues. Pennymac has a new excuse every time I call as to why my money has not been released.

My loan is current & under their $7500 limit for immediate release yet not a dime.

Everyone I speak to tells me something different & then I’m told to wait 3 days & call back. I have no idea how pennymac is allowed to do this.

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Review
#622885 Review #622885 is a subjective opinion of poster.
Cons
  • Worst customer service ever
  • Unwilling to own their mistakes
  • Procedures
Reason of review
Poor customer service
Loss
$20000
Preferred solution
Full refund

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

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

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
  • Payment
  • Poor customer service and accepting of fraudulent practices
  • Everything you can think off
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 review

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
  • Being incorrectly charges for bogus property inspection fees
  • Procedures
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

Run as fast as you can | Pennymac review from 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
1.0
Details
PennyMac (fna Countrywide Financial ) is a sham conduit for Bank of America whom they help to defraud borrowers and collect mortgage payments under false pretenses. PennyMac purportedly "purchased" my loan from Caliber home Loans (another renamed Countrywide mobsters...
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Review
#1627127 Review #1627127 is a subjective opinion of poster.
Service
Pennymac Mortgage
Reason of review
Fraud, forgery, impersonation, theft of Ginnie Mae loan
Loss
$135000
Preferred solution
Let the company propose a solution
1.1
Details
You DO NOT want this company as your Mortgage company!! They try to rape you of your money any way they can!!! My loan originally was with Caliber who I loved! It was bought by PennyMac and they have been *** since day 1! Clearly my policy had home owners insurance...
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Review
#1650503 Review #1650503 is a subjective opinion of poster.
Service
Pennymac Loan
Pros
  • Avoid at all costs
  • And far between will they listen
Cons
  • Want to keep your money so they gain from it
Reason of review
Poor customer service

Contact Pennymac Customer Service

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

Pennymac Products and Services Reviews

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Latest Question

Pennymac Questions
1.0
Details
I have a VA home loan that was sold to PennyMac a few years ago. I always paid my debts and on-time until I was diagnosed with breast cancer and other cancer related illnesses, multiple surgeries plus other illnesses. I worked as long as I could until I could not. When...
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Review
#1696725 Review #1696725 is a subjective opinion of poster.
Pros
  • Took my money on time
  • Non what so ever
Cons
  • Service and procedures
  • Unwilling to own their mistakes
  • Bad customer service
Reason of review
Poor customer service
Preferred solution
Honor the Deed-in-Lieu process as agreed