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I just received a letter yesterday that my mortgage was being sold to PennyMac from Chase.. after reading all this reviews im having serious doubts about this company.

I want Chase back and I haven't even made my first payment to PennyMac. Seriously stressing out after reading these reviews about missed payments and lost checks. and no online bill pay?! WTF?!

its 2015.. everyone had online bill pay....

I want to run... but I fear I have no choice.

I hope and pray this company is okay with me. I've never had a single issue with Chase and I don't want to start now.

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Anonymous
#1174798

I was to pennymack what a nightmar it has Ben

Anonymous
Los Angeles, California, United States #1062540

I refinanced to be rid of PennyMac and because I got a very good rate from Goodmortgage.com. Goodmortgage.com sold my loan before the first payment is due to WellsFargo.

I fear that my first payment will be late since I have not received the first mortgage bill from either lender and that my escrow will be screwed up.

My worst fear is that WellsFargo will sell the loan back to PennyMac! I wonder if that has ever happened?!

Anonymous
#1030691

Ive had nothing but problems. 5 times they have tried telling me I dont have home owners insurance. This company wants to force u into buying their own insurance to pay higher premiums through them

This company needs a class action lawsuit against them

Anonymous
#1010826

I'm not at high risk why was my loan sold to penny Mac? After reading all of this I am really worried,was so excited about buying my house , I hope I don't have a bad experience with penny Mac keeping all proof of payments, will be sending my payments certified with return receipt,if they try to pull something I will have all of my proof of payments, I think a lender should tell the person at closing who their loan would be sold to,I asked but was told they didn't know

Anonymous
#990608

I too have been sold to Pennymac I just got a letter saying my payment was due May 1st and if I do not bring it current they will start Foreclosure. Well here we go I am only to familiar with this ***.

My mortgage was in modification when they sold to Pennymac.

I retired, Social Security pays on a week & your weekday.

no specific date. I am 4th week on Wednesday. Try to explain this to these brain trusses . Just want my date changed.

This is like changing the constitution.

Impossible... This should be a simple problem to fix...

So I know this will be another battle I would hope that will end well.

Good luck to all those who got sweep up in this deal.

Anonymous
#989438

I just got sold to penny mac and I start paying my mortgage to them june 2 2015 as there letter states and just got a letter saying i'm late and owe them for may in which according to chase bank I'm in good standing. I smell corrupt/scam company.

I'm worried I'm gonna end up lossing my house and my son and I are gonna be with out a home. I don't know how they can just do this with out consoulting me I rather stay with chase.

Anonymous
#986668

I also just got sold to penny mac from chase. I also am freaking out.

I refinanced my home a yr ago and chose to stay with Chase and now they are selling me to what appears to be a scam company. I hope this all works out.

Anonymous
#980626

Just as I thought. I just made an online payment to PennyMac for my mortgage.

Just as easy as it was with Chase. Some people worry too much.

Anonymous
#979850

I too, recently had my loan from Chase sold to Pennymac and after reading these reviews am wondering what the *** I'm going to do. I used to pay my mortgage via my chase app and it was great.

Now I have to mail it in????

This is going to be a nightmare.

Anonymous
#978373

Do a little homework. They do have online bill pay. I'm not thrilled my loan got sold but I'll continue to do what I've always done and most likely won't notice a thing.

Anonymous
#977821

pennymac asked me over the phone if they had permission to remove my payment out of my chase checking account. At the same amount and same time. We shall see.

Anonymous
#977466

I got the same letter and will be calling chase and penny Mac. I have heard horrible things also about penny Mac.

I have never been late or missed a payment with chase so I don't know why My loan is getting sold to them if I'm not a risk. The only thing I can think of is I was within a group of people that have been transferred and some probably being a high risk.

Anonymous
to Anonymous #986088

My account was sold too. We have never been late either so what would the high risk be...I'm so confused right now.

Anonymous
#976304

I was sold to penny mac, also. No online bill pay?

Anonymous
#975401

I too was sent this letter yesterday, I have chase but not after the next 30 days. I'm scared they are going to try to screw me over as well.

I'm so tired of my mortgage being sold. This will be the 3rd time it's transfered/sold.

I've bee reading these reviews as well and I can't beliebe they don't have online billpay.

I want to stay with Chase but i cant figure out how to. If anyone knows how to stay with them please respond.

Anonymous
#975389

I have been switched to them also. Let me tell you, Good Luck.

First my insurance was due to be paid out of esgrow which i had to have my insurance agent act as myself because i was given the run around. Kept saying i lived in a condo actually it is a single family home. Then if that was not bad enough I would call on the phone each month to make my payment and for some reason they were going in and taking it out directly that went on for 2 months and when i call they say oh well you are that much ahead on your mortgage. No I never signed up for direct pay, you overdrafted my account and i want it all refunded to me along with fees added on from bank.

I must say they did do the refund and all fees after finally getting one of the customer service reps that knew what she was doing.

Please watch any direct pays

Anonymous
#975181

I got the same letter and have the same fears. They are supposed to be in the top 10 lenders, yet I have never heard of them.

Anonymous
to Anonymous #975191

Exactly, my parents have never even heard of them. Planning on a refi as soon as I can.

All I ask is that I get an actual bank this time.

Honestly, if this is one of the first sites I come across besides their own..... that's awful.

Anonymous
to Anonymous #975904

I also received a letter couple of days ago from chase approx. 4 years ago i went through this same bull my loan was with taylor bean and whitakmer they went bankrupt my loan was sold to chase it took several months for this to be retrofied and guess what I lost over two thoundsand dollars had to make up several months of payments and on my credit report it shows my home is modified but not a government modification dont know what that means sever thoundsands of people were affected by this so here it goes again why dont the bbb or federal trade commission or someone invesgate this many people loss there homes and forclosured became apart of there life every persons thats dealing with this needs to contact the attorney general

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