Not resolved

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.


Monetary Loss: $1500.

Company wrote 0 public responses to the review from May 23, 2014.
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Chicago, Illinois, United States #1183515

I have had a horrible experience with Penny Mac. They bought my loan as well.

Just after one year I called to pay my mortgage and they stated that my new monthly payment has went up an extra $497 a month due to me having an escrow shortage! Which was a lie! They chose to pay my taxes in full and not semi annual which caused the shortage! The escrow supervisor told me that the $6700 that they paid would be split up over the next twelve months!

what adds insult to injury is that my July taxes just arrived and they did the same thing and ADDED $227 MORE DOLLARS A MONTH ON MY MORTGAGE! You know I am livid!!!!! I have been getting the run around for a couple of months now.

I have gotten my Title company and Assessment and Taxation involved. If you have any choice in the matter DO NOT DO ANY BUSINESS WITH PENNY MAC!

Sicily, Italy #869992

Fucka them They will see the power of the mofia

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