I recently had damage to my home, since the insurance claim is over 10,000 PennyMac has to co-sign the insurance checks. I had to mail the check to another state to get it signed.
I flipped the 6 dollars it took to get it there in 2 days. PennyMac sent it regular mail, and after not receiving it back after a week I called them. They told me 2 separate dates for the check being mailed. the check showed up 5 days later.
All told this process took 2 weeks for the first check. Additional damage was found on my home during repairs and a second check was sent. This pushed the total for repairs of my home over 20,000. Meaning there is another process for PennyMac.
There were forms my contractor and I had to fill out and resubmit for PennyMac to release the check. I downloaded the forms from there website and resubmitted through there website. When Icalled to check the status of releasing my check they advised that it was the wrong form for the W-9. I was on hold for 30 minutes, to bad told to bad and get the right form.
So now repairs to my home are delayed and we are having to push dates back because of their mismanaged company.
The customer service was not helpful what so ever, and usually took talking to supervisors to get the info I needed.
I would not recommend this company to anyone ever. It has been delay after delay.
Product or Service Mentioned: Pennymac Mortgage.