Speaking from personal experience, stay as far away from Penny Mac as possible. I started a VA refinance in July and we have yet to close. I chose Penny Mac since they are who currently services our home loan so using them only made sense. Since July, I have been given every excuse in the book about the delay and was told upfront that the appraisal is what usually holds up the closing, yet we had that within two weeks. We sent in every document requested within 24 hours and kept being told we would hear from them “soon” (their definition of “soon” is much different than mine). Here we are almost 4 months later and after excuse after excuse, our refinance is FINALLY ready to close. Our guy, William Long, along with his sidekick Robert Gillespie, got us into a really great program! I’m not sure what the name of it is but here’s the deal: our credit score is over 800 and we refinance our loan now and pay a little bit higher interest rate (3.99% for a VA) and in six months we can refinance again and get the low 2.25% interest rate. We just have to pay a higher interest rate for 6 months until we can get into the lower interest loan. WOW, what a deal! I reviewed the closing docs and saw the 3.99% for 30 years but there was no mention of a refinance in 6 months, or this “special program” he got us into. I took the liberty of contacting a local (my recommendation for anyone out there) and he told me that what Mr. Long and Mr. Gillespie are doing is getting me to refinance our loan twice so they can earn double the commission. I have just wasted 4+ months to find out that our pending refinance is a SCAM. As someone mentioned earlier, all of the positive reviews here are likely fake and written by Penny Mac employees to dilute the bad reviews. I wish I would have read these in July before I picked up the phone and wasted my time. Clearly there are a lot of folks who work for Penny Mac and know this is happening, SHAME ON PENNY MAC!

I found PennyMac to be easy to deal with and I also enjoyed the good conversations with Caesar.

It was a great experience from the beginning to the end. Great communication and customer service!!

Bridget was very proactive in keeping me up to date once she became involved. My only complaint is that on the original date of signing, I was informed from the Notary via voicemail that there was a problem with our loan and that it will need to be reprocessed. This should have come directly from someone who could explain that this was a fairly minor issue and not something that I needed to be alarmed about.

I have been trying to refinance my current PennyMac loan for about 3 months now. I was told in the beginning that they would be able to close within 45 days. They have asked me to upload the same information multiple times and haven't been able to give me a closing date since September. I have tried speaking with a manager for over a month with no luck. PennyMac has the worst customer service that I have ever experienced and I would strongly recommend anyone to look elsewhere for any type of loan!

My entire experience through the whole process was painless thanks to Ceista Johnson. She was very professional, kind, and courteous. I have already referred several people to PennyMac and they too are now refinancing with PennyMac.

Very easy and stress free. Finished loan within given time frame. Very pleased with the whole process.

Randall Alford and Juan Cueva were both rockstars. If you want a professional, diligent, and stress free experience then look no further. They made a very complex process very simple and a stressful process very straightforward. Highly recommended!

Easy closing

Everything went great and in a timely manner. I felt informed throughout the entire process.

I tell people when they ask that my loan is through Penny Mac and that I enjoy their customer service. The website is also a feature I enjoy. This refinance process for me was much more enjoyable that the last time I refinanced my old home. The closing papers were a bit odd, because if my wife's schedule and mine. We couldn't nail down a day for the two of us to be in the same state due to the military. But we got it done, it only took changing the schedule 3 times.

We are very grateful for the knowledge and experience that Christian Silva and Andrew Mortenson brought to the table. They were in communication every step of the way - explaining exactly what was needed and what we could expect. They made refinancing our home very simple!

Quick fast and efficient.

Great experience!

The team was very friendly from start to finish and helpful through it all. I was given the best rate possible and would recommend PennyMac to anyone looking for financing.

We chose Penny Mac to re-finance our mortgage. They were highly professional and worked diligently to make sure the loan closed timely. The portals were simple and user friendly. but most of all the staff was the best at helping us through the process.

I give Mario and the Whole Penny Mac team a 5 star rating for efficiency and thoroughness. Process was quick and easy. Great Job guys.

The process of refinancing with PennyMac was HORRENDOUS!!! It was easier buying my house opposed to refinancing. The process took us 4 months. No one ever called and checked in, we had to call every week or every other week to see what was going on, there are no direct numbers available for anyone you are dealing with. My loan officer was M.I.A majority of the time because "they were overloaded with refinances" which I completely understood. But after several months I felt like our paperwork just got shuffled to the side/lost. I eventually had to get his manager involved. At one point we got excited after we received an email we were set to close... Yeah.... it was for another couple in an entirely different state along with all of their information.... After 4 months I finally received a closing date, signed all of my paper work- only to be called a day later and told- I had to re-sign my closing documents with no explanation. During the 4 month process I honestly felt like I was dealing with a scam company. I pray when I move I am able to deal with a new company. This has been the worst and most exhausting process ever..... We still have so many questions yet cant get in touch with any of our so called points of contact.... Avoid if at all possible!!!

Excellent process from start to finish!!! Couldn’t have been more smooth!!!!

I have dealt with several financial institutions as it relates to financing and refinancing. Considering the historically low-interest rates and the overwhelming amount of applications they must receive. I was thoroughly impressed with the communication, quick and painless closing process provided. Thanks, Nicholas and Pennymac.