PENNYMAC LOAN SERVICES, LLC.
Consumer Complaints
There are over 2002 complaints on file for PENNYMAC LOAN SERVICES, LLC.. Dated between 2019-12-06 and 2012-02-23.
Complaints Page 17
2018-08-26
Quartzsite, AZ
Trouble during payment process
Mortgage: Conventional home mortgage
Complaint: The last complaint is number XXXX, I received a response from Penny Mac, on Friday, with their same standard format, indicating they are researching the matter. Based on their past history, this is what will happen, I will receive another standard format in the next couple of days and this is what it will say ... Based on our enquiry we found no evidence that we have done anything wrong. I sent you the copy of their statement and this is what they do to me twice a year. This is been a problematic and chronic. So, in other words it is okay with them to continue their wrath. You can review my previous complaints outlining the same issues. There will never be any enquiries, whatsoever. It is only a standard format, in order for them to follow the protocal, for the government. They have an overturn of employees.
I have pasted one of the links against PM, for your review. This is not a handful of complaints against them. The list is endless. Consumers have posted blogs and it is viral. I contacted a couple of law firms in XXXX XXXX and had spoken with them and each indicated without commenting on the litigation, if there were any class action against Penny Mac and guess what, there are and it is Penny Mac 's employees, who are the litigants. So, I asked, if they were whistle blowers and they replied, reluctantly, yes. I chuckled and replied, they will receive justice.
Did your bureau have any knowledge on the matter? If not, now you do. Now about me. This Penny Mac is ruthless, unprofessional, forgery, fraudulent, thieves, emotional distress, screaming at me, etc. I have uploaded my initial complaint, per XXXX XXXX and thus, as of this day, nothing is whole. I had never heard of this bureau, until XXXX XXXX referred had indicated that it was time for the foregoing complaints and this is not going to stop.
In addition, their extension numbers and web is ineffective. Do I care, no? They are disrespectful and arrogant. One of the employees, is XXXX. Bad news. All of my payments are through my credit union only, not them. They are not trustworthy. The evidence has been a ten year problem and they still have me in delinquency, as usual. They are a group of XXXX.
XXXX XXXX XXXXXXXX XXXX XXXX XXXX
Company Response: Closed with explanation
2018-08-25
Alta, CA
Trouble during payment process
Mortgage: FHA mortgage
Complaint: Annual Escrow Analysis was performed on XX/XX/2018.
As usual, I request RE-EVALUATION to REMOVE TWO MONTH DEFAULT.
it's a painful process which i have to request every year ....
Penny Mac automatically increase my payment every year.
every year i need to call and request them to remove additional funds in the escrow and keep my payment AS IS ....
Company Response: Closed with monetary relief
2018-08-22
Watkins, CO
Struggling to pay mortgage
Mortgage: FHA mortgage
Complaint: I called Pennymac last month to ask what options I had regarding not being able to afford my whole payment for XXXX. I was told I could pay {$500.00} and make up the rest next month. I was told that because I am under BK protection this plan of action " would not affect me in any way ''. This was not true as I was charged about {$800.00} in late fees and interest. Furthermore, the statement I received os incredibly deceitful. It shows no late fees or interest and gives no information on the charges I was told would not happen.
Company Response: Closed with explanation
2018-08-20
PA
Applying for a mortgage or refinancing an existing mortgage
Mortgage: FHA mortgage
Complaint: I was told that refinancing my home would lead to a principal reduction and my new term would pay away at my principal faster. When everything was said and done, the principal amount went up and I am further behind than I was prior to the refinance. This was not explained to me thoroughly. Penny Mac has failed.
Company Response: Closed with explanation
2018-08-15
N San Juan, CA
Applying for a mortgage or refinancing an existing mortgage
Mortgage: Conventional home mortgage
Complaint: I opened escrow with PennyMAC XX/XX/18 for a refinance loan on my home in California. Their loan department and underwriting team failed to deliver services in a timely manner. Escrow was suppose to close on XX/XX/18, but the loan XXXX dropped the ball on handling my documents. There locked rate expired on XX/XX/18. No one communicated with me whether the documents were submitted for an extension of the lock rate was submitted. The underwriting department complained I had a 6 month gap of employment because of a sabbatical I took to finish my XXXX XXXX. The communication between PennyMac loan department and consumers was horrible. No one returned calls that were made the week of XXXX XXXX. I ask to speak to a supervisor, but never received a call until XX/XX/18, a week later. XXXX the sales manger called me yesterday to go over the details of my loan. He was poorly prepared for the conversation and said I did not have enough income for the loan to be funded. I stated do yo have the right file, because I make over {$200000.00} a year and my debt to ration is only 29.5 %. I feel something is very wrong with how this loan was handled. No written communication was given to me and no resolution was made thus far.
Company Response: Closed with explanation
2018-08-15
Quartzsite, AZ
Trouble during payment process
Mortgage: Conventional home mortgage
Complaint: The reason for this complaint is they claiming that I am 2 months delinquent, when I have XXXX submit a check from my account every month. Every month my payment is always sent from my credit union. My credit union does not lie. PM does.
Company Response: Closed with explanation
2018-08-15
Finley, WA
Struggling to pay mortgage
Mortgage: FHA mortgage
Company Response: Closed with explanation
2018-08-15
Jacksonville, FL
Trouble during payment process
Mortgage: VA mortgage
Company Response: Closed with explanation
2018-08-10
Canyon Lake, TX
Trouble during payment process
Mortgage: Other type of mortgage
Company Response: Closed with explanation
2018-08-08
Applying for a mortgage or refinancing an existing mortgage
Mortgage: Conventional home mortgage
Company Response: Closed with explanation
2018-08-08
Groton, MA
Trouble during payment process
Mortgage: Conventional home mortgage
Company Response: Closed with explanation
2018-08-02
San Gabriel, CA
Applying for a mortgage or refinancing an existing mortgage
Mortgage: Conventional home mortgage
Complaint: I, XXXX XXXX, have a loan with PENNYMAC LOAN SERVICES, LLC which appears that XXXX XXXX owns this loan. The address of the property is XXXX XXXX XXXX XXXX XXXX, NV XXXX. I have been paying {$49.00} for Private Mortgage Insurance every month since I bought the property in XX/XX/2014. My estimated loan balance is {$100000.00} and the estimated value of the property according to XXXX is {$210000.00} and according to PennyMac Loan Services, LLC Home Value Estimator website is {$210000.00}. I know that under the Homeowners Protection Act, a lender must cancel the PMI when the loan-to-value ratio on the mortgage reaches 80 % or when we have at least 20 % equity in the house which I belive I do. I have called PennyMac several times and they refuse to remove the PMI and they claim they dont have an Auto Termination Date for the PMI on my account. I have asked for the Auto Termination Date but PennyMac does not have one in my loan file. I need to know if you can help me with this issue?
Company Response: Closed with explanation
2018-07-31
Primm Springs, TN
Incorrect information on your report
Credit reporting, credit repair services, or other personal consumer reports: Credit reporting
Account status incorrect
Company Response: Closed with explanation
2018-07-31
FL
Trouble during payment process
Mortgage: FHA mortgage
Company Response: Closed with explanation
2018-07-25
Dallas, TX
Applying for a mortgage or refinancing an existing mortgage
Mortgage: Conventional home mortgage
Company Response: Closed with explanation
2018-07-25
Estero, FL
Struggling to pay mortgage
Mortgage: Other type of mortgage
Company Response: Closed with explanation
2018-07-24
Estero, FL
Struggling to pay mortgage
Mortgage: Other type of mortgage
Company Response: Closed with explanation
2018-07-20
Phoenix, AZ
Struggling to pay mortgage
Mortgage: FHA mortgage
Complaint: My husband was unexpectedly hospitalized and unable to work and we fell behind on our mortgage payments. Just 1 ( one ) month behind. I contacted PennyMac to say we were just a little behind and trying to get caught up and their representative XXXX told me about loan modification. He said we'd be able to miss up to 6 payments to get caught up and the length/term of our loan would be extended accordingly. We filled out all the necessary paperwork and waited - this week we found out we are approved for a modification. PennyMac 's terms, however, are very different than were described to us in the beginning. Yes, we'd be allowed to miss 2 ( two ) payments, however the length of our loan would not be extended. Instead, when our payments resume in XXXX, our monthly payment would be {$90.00} more per month *for the duration of our loan* AND they'd raise the interest rate on our loan as well. If we agree to this, we'd be agreeing to increase what we pay to PennyMac over $ XXXX over the life of our loan. This is clearly fraud - a bait and switch. We were offered a reprieve to catch up on bills and instead now being shown terms that can only be described as predatory. We owe way less on our home than it's worth - this is obviously just a tactic used by PennyMac to force people into foreclosure for PennyMac 's financial gain.
Company Response: Closed with explanation
2018-07-17
Lawrenceville, GA
Closing on a mortgage
Mortgage: Other type of mortgage
Company Response: Closed with explanation
2018-07-17
Bellevue, TX
Struggling to pay mortgage
Mortgage: Other type of mortgage
Company Response: Closed with explanation
2018-07-16
Cape Coral, FL
Applying for a mortgage or refinancing an existing mortgage
Mortgage: Conventional home mortgage
Complaint: Going thru modification with penny mac changed principal balance due and terms of loan from a fixed to a varible called several times single point contact to get hold underwtiting no response
Company Response: Closed with explanation
2018-07-16
Dania, FL
Managing an account
Checking or savings account: Other banking product or service
Banking errors
Company Response: Closed with explanation
2018-07-15
Corpus Christi, TX
Struggling to pay mortgage
Mortgage: FHA mortgage
Complaint: XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX Texas XXXX XXXX XXXX Penny Mac Mortgage XXXX XXXX XXXX XXXX XXXX Ca XXXX XXXX XXXX XXXX XXXX Penny Mac Mortgage wan to pay all of the 2 months behind will not want to take one payment at time so I can at least be behind 1 payment instead of 2 payments
Company Response: Closed with explanation
2018-07-12
Philadelphia, PA
Closing on a mortgage
Mortgage: Home equity loan or line of credit (HELOC)
Company Response: Closed with explanation
2018-07-10
Grand View, ID
Applying for a mortgage or refinancing an existing mortgage
Mortgage: VA mortgage
Complaint: On XX/XX/2018 I was getting calls from PennyMac to reduce my interest rate however they could not do it due to the type of loan that I had. I requested that they no longer contact me and did request that they cease all communication going forward. I still kept getting calls and letters from them and made a report with CFPB XXXX. The report was taken and sent to XXXX XXXX. on XX/XX/2018 XXXX XXXX did respond and stated that they would remove me from marketing list but didn't mention anything about the request to cease communication. Today XX/XX/2018 I got a call from XXXX XXXX from phone number XXXX asking if they could lower my rate. I asked the agent if he saw on my account that they should not be calling me for marketing and he said that he did see that on my account but they called anyways.
Company Response: Closed with explanation