PENNYMAC LOAN SERVICES, LLC.

2018-10-18

Brooklyn, NY

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Company Response: Closed with explanation

Timely Response

2018-10-17

Canyon Cntry, CA

Struggling to pay mortgage

Mortgage: FHA mortgage

Company Response: Closed with explanation

Timely Response

2018-10-17

Vernon Hill, VA

Struggling to pay mortgage

Mortgage: FHA mortgage

Complaint: Hello,. In XX/XX/XXXX, I purchased my home at XXXX XXXX XXXX XXXX XXXX, VA XXXX. My mortgage became serviced with PennyMac. In XX/XX/XXXX, my husband and I began to run into financial difficulties. I applied for a loan modification in fall XX/XX/XXXX, I was approved. My paperwork and first payment for the trial payment plan for the loan modification was due by the end of XX/XX/XXXX. I sent in the agreement, and the first payment before the end of XX/XX/XXXX. In XX/XX/XXXX, I receive a letter stating that they never received my documents so the trial payment plan was cancelled. I did not make my payment in XX/XX/XXXX as I was trying to communicate with them to figure out what to do. Towards the end of XX/XX/XXXX, beginning of XX/XX/XXXX, my husband called the company to discuss that we did send everything in, and needed the trial payment plan reinstated for their mistake of losing our documentation. They refused, and continued to state that they never received it. In XX/XX/XXXX, we received documentation that our house would be in the foreclosure process. I even sent in documentation for the fax confirmation. They continued to refuse. I finally filed a complaint with the CEO, with the federal consumer protection, and with the XXXX XXXX XXXX. It was then that they called saying oh we will fix it. They refused to reinstate the old one, however, and made us put in a new application. We put in the new application and they did not approve it. We then got notice that our house was due to be auctioned in late XX/XX/XXXX. I filed new complaints with the XXXX XXXX XXXX and federal consumer protection, they then allowed me to send in another application for a trial modification, and postponed the auction. All this time, however, they have still refused to admit their mistake of losing our original documentation and have refused to reinstate our modification that was messed up due to their mistake. The new application was also denied. They said we could put in another application, but honestly, due to their mistake, I am so peeved and wish they would just own up to it and reinstate. I am at my last resort. My house is due to be foreclosed on XX/XX/XXXX. I am so close to filing a lawsuit, but figured I would reach out to you all first
Company Response: Closed with explanation

Timely Response

2018-10-16

Jupiter, FL

Problem with a credit reporting company's investigation into an existing problem

Credit reporting, credit repair services, or other personal consumer reports: Credit reporting

Problem with personal statement of dispute
Complaint: Pennymac my home loan said that i put my mortgage on hold. on my credit report but that not true
Company Response: Closed with explanation

Timely Response

2018-10-15

Ernul, NC

Trouble during payment process

Mortgage: VA mortgage

Company Response: Closed with explanation

Timely Response

2018-10-14

San Antonio, TX

Trouble during payment process

Mortgage: VA mortgage

Complaint: In XX/XX/2018, I made a Principal payment to the loan. This was after the auto-paid monthly payment was processed. PENNYMAC took out a second interest and escrow payment. I called, emailed and send a letter to the PM offices. It took some time but it was fixed and confirmed, finally, after the next months regular payment. T ensure PM could not misunderstand my intentions I sent a USPS Priority Mail envelope with two checks and a very specific letter inside with details on applying payments to Principal and what the final Principal amount would be after payment was applied. They did it again, diverted Principal payment to interest and escrow. I can't tell if this is incompetence or corruption but I need this fixed and the funds applied as intended. Banking reform and consumer protection doesn't seem to stop these folks from trying to nickel and dime folks. I have all the documents and will attach them if that is included with this submission page.
Company Response: Closed with monetary relief

Timely Response

2018-10-13

Atl, GA

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Complaint: XXXX XXXX XXXXXXXX is attempting to foreclose on my home with fraudulent robo-signed assignments. We were in the process of working out a modification while at the same time, PennyMac was publishing a sale date for my home. This is by definition a situation of Dual Tracking - please investigate.
Company Response: Closed with explanation

Timely Response

2018-10-11

Cheverly, MD

Struggling to pay mortgage

Mortgage: VA mortgage

Complaint: I am behind on my mortgage due to unemployment. I called the Mortgage company to see if there was anything that I could do, any type of program that I could be involved in. The first time I applied it was turned down because I had XXXX income reported ( coming in ). I called XXXX XXXX to see if there was anything that I could do and they said : " yes '' reapply if I had a " Contributor '' that I could add on the account. They asked me if I did, then they went over preliminary questions with me on the phone. One question they asked was how much does the contributor pay towards the mortgage. I said " {$1000.00} '' a month. After I gave them all of my financial responsibilities they said yes, they had a program that they could enter me into. They sent me the paperwork to fill out, I filled in the paperwork and sent it in with, they called me back and said they needed paystubs of the contributor and from me on my new part-time job. I sent it in, then they called and said that they needed proof that the contributor resided at the address. In about a week they sent me what they call " An Affordable Mortgage '' of {$2200.00} a month. Original Mortgage was {$1800.00}. They wanted a Trial Payment of " {$2200.00} a month, for 3 months. When I called them they said that is the best that they could do. I contacted XXXX and XXXX asked them why they used 100 % of the contributors ' income when the contributor is NOT a spouse and is not on the mortgage. What I was looking for was a temporary mortgage that is affordable while I continue in my job search. I also wonder why they never said there was a program for me when I said the contributor contributes " {$1000.00} '' a month and they used 100 % of the contributor 's income when the contributor also has expenses. I am aware that I am behind, but when I reached out to Penny Mac it was for help. Currently, there is no way I can afford {$2200.00} a month. The VA contacted them also and asked if the would consider extending the term of the mortgage for a lower temporary payment and they said no.
Company Response: Closed with explanation

Timely Response

2018-10-09

FL

Applying for a mortgage or refinancing an existing mortgage

Mortgage: FHA mortgage

Complaint: I have a mortgage with PennyMac loan services. My actual valance is {$210000.00}, for 25 years for and my home value is {$310000.00}. I have a good payment history and it is my only loan with them. when I called them to cancel my PMI. they told me that it is not possible because it is for the life of my loan. Then they told me to avoid the PMI I have to refinance my loan, but what happen : they increase the percentage of my loan to 4 % to 4.78 %, and I have to pay my closing cost again for about {$5000.00} and {$450.00} for the new appraisal. and the new loan will be for about 30 years. What happened with them? I don't understand that the PMI will take out with no problems.
Company Response: Closed with explanation

Timely Response

2018-10-09

Apple Valley, MN

Trouble during payment process

Mortgage: FHA mortgage

Company Response: Closed with explanation

Timely Response

2018-10-08

Quartzsite, AZ

Trouble during payment process

Mortgage: FHA mortgage

Complaint: I continue to keep getting the run around on when they state they can remove the mortgage insurance on my mortgage. At first they said after 5 years and then they changed it to state that the loan to value ratio had to be a certain amount but I know my LTV is well within the parameters. I continue to get phone calls from them disguised like they have decided to now remove it and just need to speak to me to get some things worked out when it then turns into a marketing scam to get me take out a line of credit or borrow on all of the equity I have in it. I get them so often now and they are so sneaky when telling me what they want that I have become to doubt them and think that I may really be able to have that mortgage insurance taken off now. I want to know exactly what the rules are regarding the mortgage insurance and what my options are.
Company Response: Closed with explanation

Timely Response

2018-10-07

Columbus, MS

Struggling to pay mortgage

Mortgage: Other type of mortgage

Company Response: Closed with explanation

Timely Response

2018-10-05

Southern Pnes, NC

Incorrect information on your report

Credit reporting, credit repair services, or other personal consumer reports: Credit reporting

Account status incorrect
Complaint: Complaint : PennyMac mortgage company has erroneously reported my mortgage payments late since XX/XX/XXXX until this date, XX/XX/XXXX. Explanation : XXXX XXXX XXXX sold our mortgage to PennyMac in XX/XX/XXXX. They did not report any payments until XXXX of XXXX and immediately began reporting my payments as late. ( I have cashier 's checks receipts that will prove otherwise. ) I have only missed four payments, and when I knew that payments would not be made for certain months, I politely called, and asked if they could be put on the back end of my mortgage agreement. ( Please note : these payments were never in succession, but spread apart throughout the years. ) I was told that they would be put on the back end of the mortgage agreement, yet in XX/XX/XXXX, I received several " Intent to Foreclose '' notices on my front door, and through the mail. These are the very same months that should have been put on the back end of the loan as requested, and granted, or so I thought. To make matters worse, PennyMac hit me with over {$3000.00} in foreclosure costs. I applied for a loan modification that was approved in XX/XX/XXXX, and began my trial payment period in XX/XX/XXXX. PennyMac has reported these months, ( XXXX, XXXX and XXXX ) late as well to the credit reporting bureaus. I have bank statements to prove otherwise. I also have copies of cashier 's checks that date back to XXXX, when XXXX XXXX XXXX was then my mortgage holder. This will prove that I could not have been late when PennyMac took over as my mortgage company in XXXX of XXXX. Just recently : Illegal Insurance Practices. I and my family live in XXXX, NC, and have just come through Hurricane Florence that left many of us hurting. The area has been declared a Disaster Area from The President and FEMA. I also suffered damage to our home, and our insurance company assessed the damage at {$8000.00} of which we have received only {$950.00}. I am able to do the repairs on the home myself, but PennyMac has insisted that I get a contractor out to do the work for me. The remainder money has been taken by them, and is under their control for no apparent reason. They will not release the money to me without extended paperwork from contractors. No contractor will comply with their requests due it being illegal, which leaves our home in disrepair.
Company Response: Closed with explanation

Timely Response

2018-10-05

Belle Haven, VA

Trouble during payment process

Mortgage: VA mortgage

Complaint: I had recently heard that switching to a bi-weekly mortgage payment can help cut down interest on your mortgage by adding an additional payment each year. The earlier smaller payments would help reduce the amount of interest accruing as well if its not held until the original due date. I contacted PennyMac to change my mortgage payment to a bi-weekly payment. I was told I would have to pay my entire months mortgage up front before they would allow me to swap to a bi-weekly payment system. I payed my mortgage 15 days early and wanted my bi-weekly payments to go into effect starting on the XX/XX/XXXX for the upcoming month. I asked the agent specifically if the payments would be effective immediately or if they would be held in an account. I was told they would be effective from the time of payment and would not be held in an account. A few weeks later, I am reviewing my payments and see that my first bi-weekly payment has not been applied to any principal or interest. I contact PennyMac again on XX/XX/XXXX and I am told that the payments will be held until the total sum of the bi-weekly payments is equal to the total mortgage payment. I am also told that if I want to cancel bi-weekly payments I will need to pay the full months mortgage in advance again. That has put considerable financial hardship on myself and my family. I am simply trying to be a responsible consumer and pay back my debt in a timely manner.
Company Response: Closed with explanation

Timely Response

2018-10-04

Grosse Ile, MI

Applying for a mortgage or refinancing an existing mortgage

Mortgage: FHA mortgage

Company Response: Closed with explanation

Timely Response

2018-10-04

Rockwall, TX

Trouble during payment process

Mortgage: FHA mortgage

Company Response: Closed with monetary relief

Timely Response

2018-10-03

Coral Springs, FL

Trouble during payment process

Mortgage: Conventional home mortgage

Company Response: Closed with explanation

Timely Response

2018-10-03

Bethlehem, GA

Struggling to pay mortgage

Mortgage: FHA mortgage

Company Response: Closed with explanation

Timely Response

2018-10-03

Quartzsite, AZ

Struggling to pay mortgage

Mortgage: VA mortgage

Complaint: I have been behind on several payments due to being unable to work and living solely on XXXX pay with my wife and XXXX kids. My wife is my XXXX through the XXXX so she cant work but is a XXXX and has filed as a XXXX through the XXXX. We are waiting on those results. All 3 loan mod payments were made in the month agreed except for XX/XX/XXXX, which was made a day late on XX/XX/XXXX. I spoke with PennyMac about this and was assured everything would be ok. I have also been in contact with a HUD company called XXXX XXXX XXXX XXXX XXXX which tried to send a third party request to stop foreclosure. PennyMac did not. This is my XXXX coordinator in which when she talked with PennyMac was lied to about everything. XXXX XXXX XXXX XXXX & XXXX XXXX XXXX & XXXX XXXX HUD XXXX XXXX XXXX XXXX XXXX XXXX XXXX ( XXXX ) XXXX XXXX XXXX XXXX XXXX XXXX Please note we moved to the XXXX XXXX XXXX, AZ XXXX ( XXXX ) XXXX Main ( XXXX ) XXXX Direct ( XXXX ) XXXX Fax Here is the agreement and PennyMacs own payment statements for XX/XX/XXXX, XX/XX/XXXX, and XX/XX/XXXX. Please help. I have a hard time with day to day activities and XXXX kids who depend on me. Finances have recently freed up about {$1200.00} so my mortgage should not be an issue making.
Company Response: Closed with explanation

Timely Response

2018-10-03

Pinellas Park, FL

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Complaint: this correspondence is reference to predatory lending, I hired a legal firm XXXX XXXX to represent me with current mortgage lender ( PennyMac ) .The loan didn't get modified I paid the firm $ XXXX monthy. My name has been removed off the title and in foreclosure.
Company Response: Closed with explanation

Timely Response

2018-10-02

Brooklyn, NY

Applying for a mortgage or refinancing an existing mortgage

Mortgage: Conventional home mortgage

Company Response: Closed with explanation

Timely Response

2018-10-02

Manchester, NH

Trouble during payment process

Mortgage: FHA mortgage

Complaint: Notice of Error pursuant to 12 CFR 1024.35 ( a ). PennyMac Loan Services has failed to provide the following : 1. Short year statement under 12 CFR 1024.17 ( i ) ( 4 ) 2. Disclosure Statements under 12 CFR 1024.32 ( a ) 3. Return of Credit under 12 CFR 1024.34 4. Failure to pay taxes by the due date, as required by 12 CFR 1024.34 ( a ), which are now due 5. Notice of Sale of mortgage was not provided by XXXX
Company Response: Closed with explanation

Timely Response

2018-09-28

Memphis, TN

Struggling to pay mortgage

Mortgage: FHA mortgage

Complaint: I have faxed several mortgage modifications with financials to my mortgage company Penney Mac. My income was reduced when I became XXXX, Penney Mac doesn't want to work with me to reduce my mortgage payment. My attorney has filed and injunction to stop them from foreclosing on my home. A foreclosure property sale is set for my property XX/XX/2018 and there is a restraining order in place to stop the property foreclosure sale. Penney Mac is discriminating against me and they refuse to respect consumer rights and federal guidelines
Company Response: Closed with explanation

Timely Response

2018-09-28

Arnoldsville, GA

Struggling to pay mortgage

Mortgage: Other type of mortgage

Company Response: Closed with explanation

Timely Response

2018-09-27

AR

Applying for a mortgage or refinancing an existing mortgage

Mortgage: FHA mortgage

Complaint: We are Hurricane Harvey Survivors. We had a conventional loan with PMI insurance in the original amount of {$160000.00}. Penny Mac contacted us in XX/XX/XXXX after Hurricane Harvey and asked us if we would like to get the repairs done to the home THEY WERE offering a disaster forbearance plan that would simply put these payments t0 the end of the loan and extend the term. Since we were standing in water, flooring that needed to be ripped out, ceilings replaced, we said sure that would be really helpful. We entered their " Disaster Forbearance plan '' as offered. Then they held the insurance proceeds from our home over 45 days, meanwhile we owed contractors so we were forced to withdraw emergency money from our 401K to pay people to avoid liens. After all the repairs were complete, and the forbearance was supposed to end in XXXX, we made a payment, at the end of XXXX for XXXX, then we made another payment in the middle of XXXX for XXXX. We received a late fee for both of these??? We called and they told us that they did not have the forms prepared for the modification and the " trial '' payments would start in XXXX. Those two payments should have then credited to the past due balance in whole. Then the day of reckoning comes, we receive the modification papers, everything seemed to be in order, we were modifying the current balance of the mortgage of {$160000.00} however, they are saying we have an ESCROW shortage of {$4900.00}. What they did not know is we had sold the property and had also ordered a pay-off on the loan. In fact when we called for it the man said " well you know if this loan doesn't close you will be in default and all these sums due ''. I said " Yes sir, I am aware, this loan is scheduled to pay off tomorrow. '' The Pay Off was very slow to come, the title company finally sent out the Final CD and it showed the payoff on the original loan was now {$170000.00}, and our portion of the county taxes for the year was XXXX. So now we owe over 2,000 then WE EVER BORROWED, and NONE of our payments have reduced the principal of this loan??? We made payments totaling {$23000.00} plus the payoff of XXXX totaling XXXX, and this loan originated in XX/XX/XXXX. That is the first problem on this loan, on XX/XX/XXXX there is a credit paid on account at closing that should have been applied to payments and interest for XXXX, they stole that money. And the problem continues throughout this loan, every payment mailed they do not credit for weeks. They credit the payments WHEN they can charge late fees. Then they charged property inspection fees, in XX/XX/XXXX they charged us three times, the property had been repaired for months and furthermore PennyMac nor any representative of Penny Mac ever inspected this property.Then in XX/XX/XXXX they charge a " Property Preservation Fee '', at this time the property was under contract, we had made all of the trial payments plus two and were waiting on modification documents, we had been waiting since XXXX, XXXX. Now for the escrow account, we had a balance of XXXX in XXXX, XXXX when we closed they made us pay an additional {$300000.00}, our insurance had already been and we only owed XXXX in county taxes. Some ten days later they sent a check for XXXX, the amount of the monthly PMI payment and said the escrow account is settled in full. So in closing, we never paid the 4.5 interest rate as shown on THE TRUTH IN LENDING DOCUMENT, if you add up what has happened here my guess is that its close to 30 percent, although I have not put iron an amortization schedule yet. Oh and as a kicker they charged ANOTHER property inspection fee in XXXX, after they were paid off ... ..
Company Response: Closed with explanation

Timely Response