I received a letter from PennyMac regarding a refi with a lower interest rate of a little over 4%. They 'bought' my mortgage from Bank of America.
I told them I was concerned about charges - they said there would not be much because they already HAVE my account. Well they sent an appraiser to my house, he knew NOTHING about houses, in my minds eye. I have a special roof for the parts with a low slope - he thought it was a tarp - couldn't explain to him. Then they sent me the paper work and the interest rate was about the same as it was - WHY would I refi for basically no change.
Then they charged me $375. for an appraisal that I NEVER saw. So, I took it off my next mortage payment - WHY would I pay for something I NEVER received? Now they are charging me THOUSANDS of dollars for WHAT?
They don't even credit me for the payment I sent in.
THEY ARE BAD, BAD, BAD.
Monetary Loss: $1500.