Called customer service three times before I received the correct response regarding a letter from them. All three calls were out sourced to call centers out of the US. The first call she had me on hold for twenty minutes then magically our call got disconnected. The second representative put me on hold as well and gave me the wrong information. When I told him that he was wrong and he misunderstood my question he wanted to put me on hold again. I declined and said have a good day. The third rep tried to put me on hold and I was so frustrated at this point I asked to be transferred to a US office because I think language barrier was an issue (not in a disrespectful way). She insisted that she help so of course she puts me on hold for about five minutes, but surprisingly three times a charm. She was able to explain the letter and answer my question. All three reps were nice. I just don’t understand why would you put a customer through that process. If you don’t understand, transfer the damn call. I also think customers should have the option to have the call transferred.

This is the most slave driving mortgage company on the face of this earth. They're always short somewhere in the finances. A VA Modification loan through them is something they take advantage of and try to charge you more extra money on the monthly payment because they claim we owe this and we owe that....they have a long list of BS. We need to all file a lawsuit against this company....I don't even know how they're still in business....they're CROOKS!

I honestly don’t know how this mortgage company hasn’t faced serious legal trouble. We’ve worked on two separate projects for homeowners dealing with PennyMac, and both experiences were terrible. They tried to withhold money issued by the insurance company, which is beyond unacceptable. They are extremely slow, unresponsive, and clearly don’t care about their customers. If you’re stuck with them, do yourself a favor—refinance and get rid of PennyMac as soon as possible. You deserve better

Our mortgage was ok until it was sold to Penny Mac, we are going to have to find a lawyer to go after them! Yes our taxes went up a little after purchase about $45 a month. I verified this with the town tax accessor, penny Mac said our escrow account was short because of this so we took a significant amount from savings that was supposed to go to upgrades to the house. Fine . next year they said we are short again? They are increasing out mortgage 3 times the tax increase? We were never behind or Short we paid the shortage

So I'm trying to buy another home and these jerks are not going use the money from workman comp ,as money coming in. Why if it's part of my incone,then he tells me I can't afford what I want even though I don't have no big dept,it's funny,before I bought this house,I had 3 homes with all mortgage. What happen to debt ratio ,

I have been with them 4 years no problem till I had a fire and they give me hell to release my insurance money . I can’t fix the problem and everyday they delay my process . I think they do it so they can invest the money .

Extremely mismanaged. I have been with Pennymac for over 5 years for my home mortgage. I had put my payment on autopay and somehow the system had pulled in an extra payment. I called them to get the payment refunded. The next thing I know I got an email from the collections dept. that I am 2 payments behind? Dont know how they managed to do that. After going through escalations, research and 3 other teams their conclusions were the same. I had to then spend 3 hours locating the payments with my bank who confirmed and sent in proofs that the payments were debited. They refused to accept the documents and refused to help further. Then suddenly after 2 days I logged in to see that they have found the payments. Absolutely inefficient and poor customer service. The analyst had told me that she cant even see anything in pending payments and suddenyly voila! Pennymac is ok but beware that you are not going to get s**t service.

I never write reviews but this has been such a terrible experience. The first time around was so smooth but the refinancing has been a nightmare. I asked for the lower rate with the origination fee, paid the amount of the origination fee out of pocket to my loan so the refinance amount would cover the balance. They called the verify, I said yes the payment for the origination fee is pending and the amount will cover it once it posts. They verified and said they’d be in contact after it posts. 2 days later I get my paperwork to sign, it’s the higher rate without the origination fee, which I did not want. I call to change it and am told the first option didn’t exist, never existed. I asked why would I pay $2000 out of pocket just to borrow it back??? No answer. I asked for a supervisor, told I’d get a call back in 3 business days. No call back. I conceded, called and asked if the overage (now $2800 with payments) would be sent to my bank since the new loan is now over what I need and was told yes, in 10 business days or less. I wait the 10 business days, no refund. I call day 11 (I’m in FL post hurricane and figured I had $2800 coming to help with cleanup) and am told yes it’s coming just wait til the end of the day, next morning still nothing. I call again (about my 12th call now) and am told my refund was NEVER PROCESSED. The rep had to manually submit it for approval. He assured me it would go through this time but now had to wait 10 ADDITIONAL business days. I am so disappointed with the process. They also made my credit score drop by 300+pts until I contracted CREDIT RESTORATION HUB to help me boost it back which they did successfully, I will be looking elsewhere because this has been an absolute nightmare.

Very bad company. I unfortunately used them to get a mortgage. I gave them all the information upfront, ordered the appraisal right away, and replied to all inquiries immediately. I answered follow-up questions two weeks from the original closing. Near closing, they said their system wouldn't allow closing because the insurance information needed to be updated. Then, the day following the first rescheduling, they wanted the same questions answered and needed to push closing another day. At this point, I just allowed the seller to decide if they wanted to delay another day; otherwise, I would just pay using cash and avoid PennyMac altogether. I will not get another loan with PennyMac as the mortgage underwriter. It was a 4+ week process , and I provided and paid for everything immediately. I even paid for the appraisal when the purchase still had an inspection contingency and had no idea if the seller was willing to fix potential issues. PennyMac dropped the ball on this one. I have gotten alot of loans, but definitely cannot use ever PennyMac again

on june 18 2022. i arange with them on a payment being late for july 3 2022. august 3, 2022 made payment and $60 over payment. on august 17th made payment of $100 over.late date for august 19th. september 3 called to make normal payment. they refused to take my payment. said i owed $7850. i told the lady i was current. she said they called my loan.and said its in proccess of forcloser. 6 times they filed on me. between sep 22 till 8/24. 2 years of fighting them .on 7/17/23 in court they told judge had year at back of loan and would do a loan mod. all agreed. on 8/ 24 got a call looking for payment of $34000, to make balance even.and said there was no record of modecation in there records or a court case in july on records.october got court summouns again. they cancle out. janurary 1/20/24 same forcloser sumonds. they cancled again. april 18/24 attorney i didnt know higerd by my attourtey. set in a meeting with theres.and made a deal with them to postpone the auction sell till 8/13. i sold my house and was having nottery comming when tittle agent contacted and said there a lien on tittle and couldnt be sold till lien removed. but county still was able to sell in auction. because it was a sheriff sell. i lost $385000 over 272 pay off. there was and over payment in auction of $18000 penny came back and claimed $11000. in back interest payment.left me knotting left. put my 71 year old disable wife .me with many helth problems and with a termanel illness .and 4 other disable family members 2/seniors 2/teen on the street. indeth. same they bought my morgage 7/16 form my morgage co. 3 month after i bought the house.3/16. remember pennymac changed its name 2021 to pennymac LLC. to hide there prevelist law suits agast them try to look them up before 2020.

Just walk away. Do not use penny mac. When we had our house. We fell behind. They put us in some kind of agreement that we would pay x amount a month for 6 months and then have a new monthly payment and be good. Turns out that was not true. How it was explained to us and how it was written was two different situations. Now after the sale of our house. We walked away with money. Turns out they were charging us for something and had sent us money back. They sent the money to the house they knew we just sold. Then when we sent the paperwork back in to get that money back and sent to the right address mind you 4 years later. They told us they sent the money to the state. After we already filled out the proper work. The manager told us. Oops someone dropped the ball. Then told us we would just have to keep checking in with the state. Its not a small amount of money. This is insane.

Speaking from wholesale department side issues, i'm a broker in business for over 22 years, and i have to say they are the worst in communicating, processing, and getting loans approved and closed.. Have been signed up with them for years and finally submitted my 1st file, worst mistake i made .. soon as i close and fund this loan, i will ask them to Terminate my approval to make 100% sure i don't submit another file to them ..

Failure to pay home insurance policy through mortgage with PennyMac. Subsequently, insurance carrier dropped us for missed payment. Home owner insurance policy will not re-new policy and currently can't find any other carrier to cover us. PennyMac offered to get us THEIR policy for a $1000 more just for the structure and land. They take responsibility for the missed payment but it's like pulling teeth to get through. Any follow-up call I make shows no record of the previous call. I feel helpless with this.

I cannot stress enough, how this company has done nothing for me. I have called repeatedly, to inform them the man Alberto David Slafman, owner of Cannan reality in Philadelphia, on Frankford avenue. Was supposed to sell my house in August of 2023. He put people in the home, and basically had them squat in the home, then he still has my name Joseph Victor Ravenna on the house and mortgage still, almost a year later. In the mean time, I have been homeless and living out of my van since. I don't know who to report to in this matter, as I have tried over and over, and I am not the first person he has done this to, and, will not be the last. I have called everyone and their mother, although, thisan has all my information, including lending me a phone of his. Which my email was synced to his on the phone. Now I'm pretty sure he controls every Gmail I have made, and I mean I have been through at least 10 phones and emails which he seems or someone seems to get into every one of them. He supposedly helped by putting me in a trap house in Kensington, Philadelphia. Where the residing people were victims of his. Frank, who I met passing out flyers for David. Was basically going to lure me down the basement and put a bullet in the back of my head. Fearing for my life, I packed up and after 45 years of living in Philly, I moved away. Now a year later this man is still getting away with what he did, and there is nothing I can do about it. Also, since he did not make any payments on time, my credit is shot, and I cant even get a new place to live. Anyone, I mean anyone, have any suggestions on what to do, please email me at Ravenna.joerav007 at Gmail before I just break down and go back to Philly and commit a murder of my own. Lost in Las Vegas, Nevada. Someone please HELP ME!

Website states directions on how to go about doing things when you follow those steps representatives on the phone tell you it’s done incorrectly, then when you try to fix it every other rep you talk to always has something else to add stating it was done incorrectly. Poor directions on the website and poor training on all the reps due to them having different instructions each time. You get no where with this company takes weeks to correct anything or be able to get one issue solved.

I wish I could give them a 0. First let me start with they do everything in their power to not let you cancel your escrow account. They have had my home almost go into foreclosure due to nonpayment for property tax last year. Then this year I receive an email from my homeowner's insurance company stating my insurance is about to be cancel due to nonpayment. The customer service is horrible you can't understand the rep. and the supervisor refuses to speak with customers. I HATE MY MORTGAGE WAS SOLD TO THIS COMPAYNY. AVOID BY ALL COST. WISH I COULD REFINANCE JUST TO GET AWAY FROM THIS HORRIBLE MORTGAGE COMPANY...

If I could add no stars, I would. I made a pre-payment on my loan, only to have PennyMac still make the original payment even though auto pay was said to be delayed until the next month. Of course, their phone system is archaic and you can't talk to a human. And, their messaging system is a constant "spinning wheel of death," never allowing fixing a problem. Absolute dog "poop" company.

Worst company ever. They want you to go paperless to save them money. When your loan amount t changes by $11 they put it on the website in your messaging folder and don't tell you they did it. Then you start getting charged $90+ a month in late charges and don't try and call you for a minimum of 3 months! Why is it so hard to call their customer who has been in good standing for over 10 years to let them know what is going on. POS company. Run from them.

Avoid PennyMac at all costs! Their assumption department is atrocious and their customer service is even worse. I've never been so frustrated in my life until I tried selling my home. They are completely incompetent and clearly don't care about their customers. I've been trying to sell my house for months, and despite knowing that I'm no longer living there, they continue to drag out the process, forcing me to keep paying. What is wrong with you, PennyMac? Your unprofessionalism is staggering. I will never deal with this lender again!

Do everything in your power to not have them in charge of your escrow. They can't handle escrows competently. They have people who can't explain them, who explain them tell you what needs to get done only to turn around and it be something else. I HAVE NO FAITH IN THE COMPETENCE OF PENNYMAC. Do yourself a favor pay the mortgage money only through them and eliminate them being in charge of anything but collecting your loan (only) payment. I can tell you this because the number of people involved, the number of verifications, adjustments and explanations to get to close and then 5 days later the information they provided and action they took was incorrect. Constantly being told stuff that was not correct and the next person inline doesn't know what was done even though what was done is what they stated to do and or had done already. I would not have anything to do with this organization if I had a choice and I will do everything in my power to remove them from any escrow involvement. I would highly recommend everyone do the same. They are slow, don't communicate well, are incorrect, do things that are not right, tell you to do stuff, you listen then another person states something different which causes more delays. It's been ridiculous. There own teams do not work well together, they can't provide details and when they do they are not correct and in the end nothing gets done correctly because of incompetence. They cannot be trusted. Seriously. You will have to do everything yourself anyway (make sure you take notes and/or record their conversations) and it will be twice as frustrating having Pennymac in the middle. Just another dipshit middleman to screw up more things in an ongoing basis. Trust me