We purchased our second house after having pennymac for our first house mortgage with no problems for 8 years. However, the second house purchase a complete nightmare. I went with them even though I had received lower rates with other banks because I had already completed the application and needed a quick close and was told they could accomplish. Mistake! They delayed our closing three days costing us thousands of dollars because of their mistakes - Norma’s. We we calling everyday the two weeks before closing making sure all was good to close on time and Norma kept saying yes. Then on day of closing - nope and then three days later we almost didn’t close. They threw in flood insurance ($475 a year) escrow and we wanted that changed and we’re told that would delay us more. We have now paid our flood insurance ourselves for two years and they still insist we have to have an escrow account balance is ($1200) because they haven’t paid anything. But I paid the flood this year due on Aug 10 in July. And then pennymac decided to pay it from my escrow account on sept 7? It was due in august. Hence why I paid it! If we would have let them pay it we would have been in forfeit of our loan terms- huh? So why are we forced to have an escrow account? We have 820 credit scores we pay our bills clearly. We are refinancing just to get rid of them. And funny they day we contact the new bank - pennymac calls saying we noticed you did a credit pull you can refinance with us. Heck no!!!! This is why we’re leaving.

The PennyMac loss draft and main office have been nightmares to deal with over the past three years since the loss of our home in the Paradise Camp Fire. Most recently, a request for funds withdrawal to enclose the open framed structure with doors, roof and exterior siding was denied by the main office because the inspection report did not conform to their rigid and irrelevant progress inspection reports. The PennyMac required interior construction cannot begin until the exterior is secured to prevent potential theft, vandalism and exposure to the elements. The house is located in a high risk fire danger area and a simple grass fire would threatened the open framed structure and all of the construction progress to date. PennyMac has been provided all of the pictures and contractor documentation to support the request for additional funds to move forward but to no avail. PennyMac is on well documented, written notice of our concerns and disappointment that a senior citizen, a Veteran, PennyMac customer/fire victim and his family must remain displaced from their home due to a mortgage company who is unwilling to release the funds to rebuild their home. The PTSD experienced in navigating through the PennyMac insurance quagmire is nearly tantamount to the trauma suffered when we fled our home November 8, 2018.

RE-Fi to save $300 a month went easy and fast closing! I have an FHA loan with unfortunate built-in PMI at around $400+ cost a month, which remains until I sell my home as this current RE-FI could not change since my income did not allow a change from FHA to conventional. Good experience all around with PennyMac.

Huge fan of PennyMac. Everything is easy and straightforward. I have no desire to finance through anywhere else. Oh, and my wife works for a mortgage broker and I STILL went with PennyMac 3 times.

This company Pennymac is full of liars. They denied me refinance. I have never been late on any pay. They were upset that I question the interest rate base on my scores. They say they average the 3 score. When I ran my own scores. they then say we go with the lowest but the lowest is still Good. They never Gave me my scores, they just told me what I qualify for. I asked what my scores was according to them. They said 600s. My Scores were 769, 736, and 689 all were in good ratings. They got upset that I questioned them. They called to tell me they can't do it because of debt to ratio. I asked to explain my debt to Ratio. My debt to Ratio is good. The guy admitted he don't really know how explain mines. He transferred me to original loan officer but he never answered phone. I have repeatedly asked to speak my loan officer over the last 2 weeks but he never called me. I will be going to another company and reporting them

I would give Pennymac Zero stars if that was an option. After almost one year of sending in paperwork for approval to get my house in my name and refinanced, and after they told me there is only one more form to be notarized they stopped the whole home Modification process, now claiming they did not get proper paperwork where I'm supposed to do this all over again. What's even worse in stead of Faxing they now want me to download everything and it wont go through . It is documented that I have spend 2 hours every day this week trying to get this resolved and 7 hours so far today where I had to take the day off for this - and got no where, that's not counting calling them weekly where they reassured me all was ok. But later said it wasn't. Penneymac dropped my whole modification without contacting me, I was patient but now I am furious beyond belief

ABSOLUTE TRASH. I spent over 30 min trying to speak with an actual person instead of a robot spouting off information I didn't need. Finally got someone on the phone and she literally said "I don't know how to help you" when all I'm trying to do is request a payment to pay my new homeowners insurance policy because I switched carriers. I was then passed around to two other people who also couldn't help me to which I ended up back at the robot. I wouldn't recommend this company to anyone. EVER!

Whether it's PennyMac or any other lender, do not agree to e-sign anything until you receive a hard copy of all required documents. Minimally this should include an itemized list of ALL closing costs, Truth in Lending Disclosure, Notice of Right to Cancel and when applicable, purchase of points. These are the most important documents to review before agreeing to a home loan of any kind. If these documents are not easily accessible (emphasis on easy access) in DocuSign or similar service, request a hard copy before signing anything.

Remember how we’ve always been taught in life to treat someone like u want to be treated well my experience was as such if there were any questions our something I didn’t understand it was solved everything was done when it was said it would be done my closing I scheduled it at 8am and that’s when it happened this Pennymac team got there stuff together thanks Candice Williams

They actually followed the plan with time of when we would close my loan officer was very helpful as was everyone I worked with they also were super friendly I was very happy all the way around it was a very timely loan procedure

I tried to refinance with them and they were initially pretty good until the loan officer passed the torch to someone else. Then the ball was dropped. The level of unprofessionalism was at all levels. Endless emails and phone calls not returned. Requested for a supervisor and never got to me. I had to call again. And be mindful the calls are recorded. Even though some of the loan agents are still working remotely you can hear the back ground noise.. UNPROFESSIONAL!! Anyway, even though I had my bad experience. The company as a mortgage lender is awesome. You do have some that answer the phone with professionalism, otherwise.

I like the secure document and communication account, e-Sign, and ability to review the process anytime. The weekly updates from the account specialist assigned to me. My loan happened in the timeline expected. I like the fact that Penny Mac gave me the loan and serviced it also. Many mortgage co. Sell you out before the 1st or 2nd payment is due. I recommend that all Veterans should check with Penny Mac's rates before just blindly signing up with a Mortgage co. that praises Veterans to do business with them just because... Many of them prey on Veterans. Thanks E.Z.HMD

These guys invented the word incompetent. Bad loan servicing, they never paid my house insurance out of escrow and my insurance would've cancelled if I hadn't paid it out of pocket myself. They tried to refinance me told me I got approved and then didn't talk to me for a week only to tell me that I actually did not get it.

Myisha was fantastic on my refinance! Professional as well as courteous!

I have a current loan with penny Mac. When I inquired about a refinance to a lower rate I received the worst service ever. I couldn’t get a return call from Clark one of their managers. I would never recommend them to anyone.

After initial skepticism, I did a refinance of my house with Crystal and the team at PennyMac. All of my questions were answered promptly. Had I know the process was that easy, I would have done it a long time ago. Thanks!

My mortgage was sold to Penny Mac almost immediately, and the lack of customer service coupled with an absolutely awful online interface is EXACTLY WHY I didn't use them as a provider in the first place. The stupid game that is bundling and selling mortgages strikes again.

Tried to refi with them. Not a positive experience, spent 3 plus months and did not seem to get anywhere. Finally, threw in the towel and went with another company (much smaller) and seem to have reached a positive outcome and more favorable rate than anything PennyMac could offer.

Hello PM, I started a refi on my home on June 28 and the loan is in processing. I have a few questions for my loan officer Jonathan Warren but cannot reach him via phone or email. I've left messages for him and an email for his Manager to no avail. When I reached out to PM stating my desire to refi my loan, my phone was ringing off of the hook. Now that I need assistance, I cannot reach anyone to answer my questions for an update on my loan. How do I get in touch with corporate?

I was trying to refinance my mortgage that i have with them for over several years and this lady tried to assit me Name: Dominique White-Boxsley Title: Loan Officer Email: dominique.boxsley.pnmac.com Phone: , she was clueless about the process, after i asked severeal key question like debt-to-ratio she said they woulndt look at that since we ahve the mortgage witht hem already, so we decide to proceed. to find out after she ran the credit report whcih in have over 760+ worthiness that indeed the looked at my bills. a useless run of credit report, time wasted. she definitely should'nt be helping people. or more traine needs to be done. thank you for nothing Dominique White-Boxsley. If she assisted you PLEASE RUN AWAY..