I would love to get in on a class action lawsuit against PennyMac!! My original loan was with them and I had 27 years left on it.
They approached me to re-finance. I was able to get into a new 23 year mortgage and paying $150 less a month. Turns out they under estimated my escrow account at closing and now 2 years later my escrow account is in a negative and my monthly payment is $300 more than when I first financed it. I knew it was too good to be true when I re-financed it.
How in the world can my mortgage payment jump $300 in 2 years when I am on a fixed rate of 3.375%. I could not be more livid about this!!!
Reason of review: Poor customer service.
Preferred solution: Price reduction.