Attempt to refinance mortgage. Poor customer service. They kept calling the wrong number and then said my loan was inactive because they couldn't reach me. Contacted them and just got bounced around. Got screwed out of the appraisal fee and no one will contact me. Do not use this company

excellent service

Worse finance/banking experience ever! Their customer service takes hours to access. When I made contact I was transferred around for another hour. When I finally reached the escrow department. I was transferred to the insurance dept, then back to the tax dept. I spent two entire days trying to find out whether the taxes or the insurance causing the escrow to be negative? After speaking with numerous people...I was told: No one could determine whether the increase in my monthly payments was caused by an increase in my insurance or my taxes. Finally, I was told I needed to pay $54.00 to cover the escrow shortage. Two weeks later I got a check for guess what? $54.00. A lender who employes people who can't count money is scarry. The arrogance of their wait time is enough to make me refinance my mortgage.

During the beginning of the pandemic, they offer to help me by "differing" 3 months payments, and at the end they will either forbade the payment, or add it to the end of the "loan modification" contract, They did a quick VA loan, in which they will charged all the money that was supposed to be forbade, At the end of 3 months I ended up paying more, than before. After I refused to sign the "loan modification" They attempted to acquire more rights than me. Including any attempt to fix the property, will have to be approved by "the lender". I refused to sign their "modification", then a month latter, they offer to "refinance" my property, because of a "government program" designed to help homeowners pay less on the monthly payment. Everything looked good on the "disclosure" until they showed me the last part of the "modification" and sure enough, they attempted to gain control over my property, I declined again, and I am currently working with another lender. These people are thieves and liars.

Having our mortgage with Pennymac after they bought it from Wells Fargo was fine, so when we wanted to refinance we thought: we'll just do it directly with them instead of using a broker! Huge mistake. The worst part was getting a series of 5-6 auto emails from our supposed loan processor, saying we'd get updates on a certain date...and then never getting any communication from that person ever. I mean literally. I did manage to talk with her twice when she actually answered the phone but she never responded to any emails or phone messages. When I talked with her, she blamed that on her team - "they shouldn't send out those auto-emails, I'm too busy to keep up with all of this!" Really?!? She reassured me that the loan should go through, that we were in process...until at the 3 month mark I got a one word email: "Denied." I then called a broker and my refinance closed today after a mere 30 days. Don't make my mistake! They seemed fine handling my prior loan but their loan underwriting and processing wing is a total disaster.

Our loan officer, Eric Lewis, failed to be up to date on the current guidelines of PennyMac and didn't inform us when we started the refi process that PennyMac doesn't finance modular homes. Our application was approved, our rate was locked in, we paid for the appraisal ($445), and when I called to check on the status of our refi, we were informed that we were denied because PennyMac has chosen to not finance modular homes. We started the process in January and was just informed last week that we were denied. PennyMac wasted both our time and money. We are current PennyMac customers with an existing loan on the same modular that they just denied to refinance. We have been faithful customers who have paid our mortgage on time since we've been established with them. I have requested that PennyMac reimburse us for the appraisal fee of $445. Hopefully they will fulfill our request.

Pennymac offered a forbearance to us in 2020 when the world told us we are not allowed to work because we’re not essential. They said over a recorded line, the amount unpaid will get put at the end of the loan and our loan agreement will not change. Now fast forward to 2021, they are stating we only have 2 choices to get caught up on the payments we’ve missed. Pay everything right now or sign a new loan that makes our mortgage higher than what we paid for it. We didn’t sign that ridiculous term and even though we continue to make monthly payments they stated over the phone foreclosure papers are being sent out. Yeah, they’re awesome. I can’t wait until a mass lawsuit happens with this scammer.

I want to start of saying that I am very disappointed for the poor customer service and unprofessionalism PennyMac demonstrated during the refinancing process. I was told yesterday April 1, 2021 by a PennyMac representative that I did not qualify for the loan because of a “supposedly re-structuring” of my loan. According to PennyMac I needed to pay off one of my vehicles which equates to $16,XXX. Of course, I had to terminate the refinancing process since I did not have that money at my disposal. Please note that I was told about this information after 3 months into the process. For reference I started the process back in January 29th, 2021 . This is unacceptable, I literally had turned down two offers from other mortgage lender companies because of the low rate PennyMac was offering me. Again, I am very disappointed with PennyMac I will never recommend this company to a friend or family.

PennyMac did not pay my taxes for 2 years...2 YEARS! I was unaware they were not paying my taxes till I started to refinance with a different company and they told me to bring cash to closing because I had to pay my back taxes. So I contacted PM to get them paid and they gave me the stupidest answers and run around for a month. Then I finally had to pay them out of pocket, because PM was taking to long and I need to close my new loan. Now it has been 3 months calling them and never hearing back from anyone (absolutely worst customer service) they are acting like they are doing me a favor refunding the late fees I incurred because of them and I had to be escalated to two levels of supervisors just to get that done. So glad we refinanced with a different company.

So this is going to be a long story to document all of the ways this company has dropped the ball. It starts more than a year ago, in December 2019 when I went to pay my mortgage online and without my knowledge the month amount had been increased by about $140 dollars. I did some looking around on their site and it was because the taxes had increased. Ok, so they didn't notify me in any way (mail or paperless). Mistakes happen, I let it go. So this December I went to pay my mortgage for January 2021 and it had increased again by $340, again probably because of taxes. I really couldn't afford a $1266 a month mortgage payment (one that started at $781) so I looked at refinancing to lower my month payment. So while I was looking around at my statement I realized that the homeowners insurance was not with the company I had selected and was about $600 more per year than I should have been paying. Just like the payment increase, this was never communicated to me in any way. I then uploaded my declarations page from my insurer and it was fixed online. So I called them about refinancing and they offered me a much lower rate. Started going through the process and I informed the home loan "specialist" that there may be an issue with the property address because of confusion between the county, the city and the post office. I was informed the closing was scheduled for 02/22. On 02/24 when I still hadn't heard from anyone I contacted them and was informed there was an issue with the address and getting the title cleared, an issue I had clearly explained to her two months prior. I then spoke to her boss, an Operations Manager, who assured me that it would be straightened out. I was notified that the closing would be on March 8th. The closing occurred and then a couple days later I was told that they did the calculations and wrong the amount was too high to pass VA standards, so we would have to resign all of the documents. This happened on March 15th, but again with no notice or confirmation of the appointment, the person just showed up at my house at 9:00 am. In the meantime, I started receiving collection phone calls and emails because the March 1st payment wasn't made. It had been deferred because of the closing. So we're finally to the end of my saga. Loan financed and everything was done yesterday. I go on the app to look at my account and the WRONG INSURANCE IS ON THERE AGAIN!!! So I called the condescending operations manager and he informed me that he couldn't help since the refinance process was done and I would have to contact Customer Service. In their defense they did lower my mortgage rate from 4.99% to 2.65%, but they made me suffer for every point.

Their website is down for "scheduled maintenance" nine times out of ten. It's such a pain just to pay my mortgage or access my tax documents.

Bad phone support. Bad online support. They don't seem to monitor Twitter. Awful. They hold my loan and I need some tax info. Tried to get it online but it wouldn't allow me into my account, forced me to change my password and then told me it was wrong. Phone support kept me on the line for five minutes before announcing offices were closed. No answer to my tweet. No answer to my follow-up tweet.

I had my home loan with Pennymac already and decided to refinance. Had so much trouble getting responses from the agent I was assigned. Reached out to her supervisor and never got a response from him either. Was promised that they "expedited" my problem but nothing was ever done. I've had the same issue pending since January 28 with no answers. Can't get her to call me back or respond to my emails. Her supervisor won't return emails or phone calls either. I have a simple question that would require a simple answer yet no one can respond. I'll never recommend this company to anyone.

The most disorganized mortgage company I've ever dealt with. Tried to resolve forebearance issue for 3 months and ended up calling over 30 times. Each time I'd call I'd be told something different. They lied to me and got me to sign documents with the promise of resolving my issue. They used the signed comments to corner me and go back on their word. When I told the supervisor about the dishonesty she acknowledged and said that they will retrain their people. That doesn't do me any good. Dont deal with Pennymac. Save yourself the headache

These people are trying to steal my house they gave me 3 months forbearance and told me I could put it on the end of my payments,all lies I have250 payments made never late now that I’m ready to get off forbearance they say my only option is to refinance start the 30 years over over 3 payments they told me I could put at the end they lied to me I’m 65 been paying over 20 years now they say my only option is to get a 30year morgage I would be 95 when paid liars theives

PMI removal process started 12/21/20 was told BPO would take 7-10 days. Wasnt completed or even requested until a month later. Appraiser submitted appraisal 2/9/21 as of today 2/20/21 they haven't "received it". During the entire time I am told PMI review takes 30 days... My March payment is now due and now told its 30 days until after the PMI deletion is approved. So how long does PMI deletion take? 6months- a year? Or maybe once the value drops so they can deny it for it not meeting the value. So absurd. Been told the wrong information, wrong timeframes, wrong status etc... Then they ask if I want to refinance... RUN HECK NO!

1st closing attempt: I was contacted by the lawyer that was assigned to our closing to verify everything that we were going to do that day and make sure we were still on target. He then called me back a few hours later and said that as far as he knew the closing had been canceled. The notary called to confirm and said everything was still ago. We went ahead and went to the law office that was assigned to us to do the signing. They had absolutely no idea what we were talking about, according to them it had been canceled and it was no longer in progress. The notary insisted that we signed the paperwork on the hood of her car in the dark parking lot without a witness. We said no we would not do that. So she took us to her office, which she didn’t even know the code to get in, she had to go look it up. When we got into the office it was covered in empty food containers it was the size of a shoebox. After the 15th red flag we decided to call off the closing. I then called Liem and told him about the situation and he was mortified. I was very clear that we would continue with the process as long as we did not use Amarak. I gave him the title and the lawyer office that I wanted to use and he was very clear and understanding to that. The day before the 2nd closing I get an email form Amorack stating a notary and the address for the closing. I get call if you hours later and it’s the lawyer (that is not listed in the email), I asked him to verify with the law office, which he does. He then calls me back and tells me that the law office has no idea what we’re talking about. Then asked if the property was in South Carolina, I said yes. He said I am not licensed in South Carolina I cannot do your loan. I proceed throughout the day getting five more emails from amorack with five different notaries and the same address listed. I had two more notaries call me the same day and another lawyer. Confirming that they were my assigned professional. I called Liem and canceled everything, this is ridiculous very unprofessional. Still getting emails from amorack. I get a call the next morning from another notary and another lawyer saying that they are assigned to my case for a 9 o’clock closing. I told them I’m sorry I had canceled it and they weren’t notified. The process was drawn out, constant paperwork being requested repeatedly. I specifically asked to never work with amorack again and was still assigned to them. I am furious that there are now 12+ people out there that have my personal infomation due to the incompetence of the scheduling.

Getting my loan took awhile, but I had no problems. A year later, interest rates dropped bigtime, so I refinanced with another company. After I signed papers, I was told to not make another payment by my new lender. The closing was delayed because the processor lost paperwork, and I had to sign again. PennyMac withheld the wire transfer payoff, saying it was expired. My payment was now 30 days overdue. I returned a voicemail message, and was told the loan couldn't be funded until a new payoff demand was completed. I paid the overdue payment and late fee, and the SAME DAY PennyMac applied those AND the wire transfer for the payoff, AND reported me late to 2 credit bureaus. All in the same day. 67 point drop in my FICO, and apparently a new payoff demand WASN'T required. When I called to discuss, another lady just kept telling me how I was wrong over and over. Use a local bank and save yourself tons of frustration with a company you can't have a face to face conversation with, and follow up often if you refinance a PennyMac loan.

Craig Woods and his team are the worst. Do not trust anything they say

Our home mortgage was sold to Pennymac for two years before we sold our home. Once the balance of our mortgage was transferred to them our payments were stored in a separate account because we didn't pay the exact amount due. We overpaid it. That is right...we paid more than we owed so they redirected our payments to a holding account and proceeded to charge us a late fee. We asked for those funds to be applied and we were told they could not be until the following month. So suckers that we are we made another payment which was also redirected. The additional payments were never fully applied to our account but we were selling our home and decided that we would just let the title company work it out. Well, they got the reimbursement amount correct, but have now mailed the payment to the address of the sold home three times. We changed our mailing address with Pennymac and the post office four months before the sale of the house. One year later and no reimbursement check (no surprise as Pennymac is not a reputable business) and being told that although we have corrected our address with Pennymac several times now, that the post office has overridden our address changes. Hahaha! Are you kidding? This is madness. Please let me know the procedure to get this fraudulent company closed. Thank you in advance to anyone who can help prevent this happening to anyone else!