PENNYMAC LOAN SERVICES, LLC.

2018-06-13

Houston, TX

Trouble during payment process

Mortgage: FHA mortgage

Complaint: PennyMac has continued to misapply my monthly mortgage payment despite explicit instructions on how to allocate the monies. More recently they paid {$1500.00} to XXXX XXXX XXXX for my homeowner 's insurance. The premium is {$1400.00}. PennyMac 's negligence has resulted in an over payment of {$74.00}.
Company Response: Closed with explanation

Timely Response

2018-06-13

Houston, TX

Trouble during payment process

Mortgage: FHA mortgage

Complaint: On XX/XX/XXXX I mailed my mortgage payment to PennyMac. Along with the check # XXXX, I included a letter with specific detailed instructions on how I wanted the payment applied. They ignored the letter and chose to apply the payment how they felt it should be applied. This has been happening for the past several months. I have reached out to them on several occassions to rectify the matter and they have not been at all helpful. Instead, their representatives have disrespected me, spoken to me unprofessionally and mistreated me. In this latest incident, they applied the overage to the principal and that is not what I requested. I was also charged a late charge and the payment was not late. They also received the payment on XX/XX/XXXX and put the received date as XX/XX/XXXX.
Company Response: Closed with explanation

Timely Response

2018-06-12

TN

Other transaction problem

Money transfer, virtual currency, or money service: Domestic (US) money transfer

Complaint: We received an insurance claim check from our homeowners insurance to repair our roof. Our mortgage company Pennymac Loans will not endorse and release our claim check, while our roof is literally falling down around us. Ours is not an isolated incident. Pennymac is notorious for this practice. Class action lawsuits have been filed against Pennymac for this reason.
Company Response: Closed with explanation

Timely Response

2018-06-12

Corpus Christi, TX

Struggling to pay mortgage

Mortgage: FHA mortgage

Company Response: Closed with explanation

Timely Response

2018-06-11

Clermont, FL

Trouble during payment process

Mortgage: VA mortgage

Company Response: Closed with explanation

Timely Response

2018-06-11

Fort Hill, VA

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Company Response: Closed with explanation

Timely Response

2018-06-08

Vernon Hill, VA

Struggling to pay mortgage

Mortgage: FHA mortgage

Complaint: In XX/XX/XXXX, my husband and I were granted a trial payment plan through Penny Mac USA due to financial difficulties my husband and I had endured. I made my first trial payment, and submitted my agreement via fax. We received a letter in XX/XX/XXXX stating that our trial payment plan had been cancelled due to not providing the documentation in time. I called customer service who reported they never received it, and did nothing about it. I then emailed corporate due to my frustrations. They sent me a complaint team member. This team member requested a copy of the fax confirmation which I sent so it could be reinstated. The staff member inquired about jobs, which my husband and I had both lost our jobs and began a job change. She then asked if we defaulted on the trial payment plan which we assumed was yes. We did not continue with our payments due to their mistake and the confusion, and wanted to protect ourselves. Come to find out yesterday, however, she assumed we meant we would have defaulted anyways which is not what I meant. She would not provide me with documentation of saying this either though I have all email correspondence and there is no record on email. At the beginning of XX/XX/XXXX, I communicated with this staff to begin a new application. I never heard back from her for four weeks, and had to reach out first to have the process continue this week. By this point, I had received a deed of trust. She sends the information to the underwriter who informs me to ask for a postponement as I had not received a full paycheck yet, and would not until the end of XX/XX/XXXXand for the mistake. I requested this and it was denied, with my auction set for Monday. None of this would have occurred had my documentation not been lost. They have switched this to put the fault on me when they lost documentation escalating foreclosure. I am so frustrated.
Company Response: Closed with explanation

Timely Response

2018-06-08

Carver, MA

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

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

Investigation took more than 30 days
Complaint: I was shocked when I reviewed my credit report and found late payment on the dates below : XX/XX/XXXX - XX/XX/XXXX - 60, 60, 30 days late XX/XX/XXXX - XX/XX/XXXX - 4x 30 days, 1x 60 days late PENNYMAC LOAN SERVIC Acct # : XXXX I am not sure how this happened, I believe that I had made my payments to you when I received my statements. My only thought is that my monthly statement did not get to me.
Company Response: Closed with explanation

Timely Response

2018-06-08

Rattan, OK

Struggling to pay mortgage

Mortgage: FHA mortgage

Complaint: I submitted to PennyMac the note with my original signature and notarized on XX/XX/XXXX. They responded on XX/XX/XXXX stating they would conduct a full review of my loan. Then on XX/XX/XXXX letters were sent which will be attached requesting them information on my loan. Which were notarized and sent certified mail. On XX/XX/XXXX they responded stating thank you for requesting a reinstatement quote. Then on XX/XX/XXXX I received a letter that they were currently conducting a full review of my loan. Then no response and then found out they have filed foreclosure on XX/XX/XXXX.
Company Response: Closed with explanation

Timely Response

2018-06-06

Missouri City, TX

Incorrect information on your report

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

Account information incorrect
Company Response: Closed with explanation

Timely Response

2018-06-06

Foothill Ranch, CA

Trouble during payment process

Mortgage: Conventional home mortgage

Complaint: I have recently had a flood in my house and received a disbursement from my insurance company for around {$41000.00}. XXXX forced me to turn these funds over to them ( presumably so they can collect the interest while they hold on to my money ). Since then, I have been dealing with their internal documentation process which has caused delay after delay after delay. They are denying paperwork that is completed properly to cause delays. Every time I call to get a disbursement, I am told it's 4 to 6 days out. My leak was on XX/XX/XXXX. I sent the check to them on XX/XX/XXXX. It is XX/XX/XXXX and they have still not mailed a check to me to pay for my repair work. I have already had to pay {$5000.00} out of my own pocket to pay for the work to get started and I don't appreciate them holding my money and refusing to mail me any amount to pay for the repairs I need to have done in my home. Please get them to escalate a check to me immediately for at least {$10000.00} to cover my initial payment of {$5000.00} and give my contractor another {$5000.00} so he doesn't walk off the job!
Company Response: Closed with explanation

Timely Response

2018-06-06

La Mirada, CA

Incorrect information on your report

Mortgage: FHA mortgage

Company Response: Closed with explanation

Timely Response

2018-06-05

Las Vegas, NV

Trouble during payment process

Mortgage: Other type of mortgage

Company Response: Closed with explanation

Timely Response

2018-06-05

New Britain, CT

Trouble during payment process

Mortgage: FHA mortgage

Complaint: I had repairs done on my home out of my own pocket, the insurance company did inspections and released the funds to me. I sent checks to PennyMac Loan services because they hold the mortgage. They are now saying they won't release the funds or schedule an inspection so i can finish the sale of my home.
Company Response: Closed with explanation

Timely Response

2018-06-04

Oxford, GA

Trouble during payment process

Mortgage: FHA mortgage

Complaint: My mortgage was 4 months behind due to job loss and I attempted a loan modification which Pennymac denied. I was told I would need to pay {$4100.00} to bring my account current. OnXX/XX/XXXX, I paid {$1000.00} over the phone and I was told to pay {$3100.00} to fully bring it current which I did on XX/XX/XXXX which equals the past total amount 0f {$4100.00}. In addition to that, I paid the escrow balance {$960.00} on XX/XX/XXXXin order to reduce my monthly mortgage amount and make it more manageable since I'm experiencing an income reduction. I made my first payment of {$860.00} but I received a bill stating that I have an outstanding late charge ate charge in the amount {$81.00} and another fee of {$30.00} which I was never made aware of during my calls on XX/XX/XXXX; XX/XX/XXXX and XX/XX/XXXXwhen the last 2 agents confirmed that my account was up to date and I also accessed online and that was confirmed as well. I've already contacted XXXX regarding this matter but Pennymac responded that it will take 30days to resolve which I'm worried that this will affect my credit and it didn't take them 30days to charge or deny my modification request. why should it take that long to resolve this matter. Attached you will find the bill that shows the amount to bring my account current which I resolved by XX/XX/XXXXto avoid any late fees if I was to pay after XX/XX/XXXX
Company Response: Closed with explanation

Timely Response

2018-06-03

Lake Shore, MD

Struggling to pay mortgage

Mortgage: FHA mortgage

Complaint: Mailing Hard copy of letter to follow up from the below email. Please let me know if you received the below email. Call and I can forward the proof of the wrongful foreclosure by XXXX. I have to go to court on XX/XX/XXXX @ XXXX and want to make sure everyone is aware before my court date. Thanks! Emailed the following for assistant and never received any responses since last year XX/XX/XXXX From : XXXX XXXX [ mailto : XXXX ] Sent : Tuesday, XX/XX/XXXX XXXX XXXX follow up email To : XXXX XXXX <XXXX> ; XXXX ; XXXX ; XXXX Cc : XXXX ; XXXX ; XXXX ; XXXX ; XXXX ; XXXX ; XXXX ; XXXX <XXXX> ; Consumer <XXXX> ; Civil Rights <XXXX> ; XXXX ; XXXX Subject : Wrongful Foreclosure by XXXX XXXX XXXX and Penny Mac Following up from the mail in letter on XX/XX/XXXX To Whom It May Concern : My name is XXXX XXXX and my mortgage account number with XXXX XXXX XXXX is XXXX. I was approved for a home modification in XX/XX/XXXX. First payment was due on XX/XX/XXXX. I made every payment on time until my payment was returned in XX/XX/XXXX by XXXX XXXX XXXX because my account was transferred to Penny Mac Loan services. I begin to make payments to Penny Mac until my payment was returned by Penny Mac because my home was placed in foreclosure on XX/XX/XXXX, which was 2 days before the returned payment by XXXX XXXX XXXX directing me to make payments to Penny Mac. I contacted them several time prior to the return check in XX/XX/XXXX because I kept getting letters from XXXX XXXX XXXX about a foreclosure. No one was willing to work with me and after several attempts to get my account current ; I went and filled out a Motion for a stay of the sale to stop the foreclosure proceedings on XX/XX/XXXX. Unfortunately the motion was denied on XX/XX/XXXX. On XX/XX/XXXX, the court wrote a letter to the plaintiff asking for a status report on the case XXXX. XXXX XXXX XXXX responded by setting a foreclosure date for XX/XX/XXXX. I went to XXXX XXXX XXXX on Monday XX/XX/XXXX and I was told by the XXXX in the mortgage department that penny Mac received the loan modification and should honor it because it wasnt finalized before the loan was transferred. I contacted Penny Mac on Friday and I was told for the first time by ( XXXX ) that XXXX XXXX XXXX cancelled my loan mortification when I didnt sign the final modification documents in XX/XX/XXXX. I received the final documents but my last name needed to be changed so I spoke to ( XXXX ) and he asked me to email my drivers license, marriage certificate, and my divorce decree, which was emailed on XX/XX/XXXX and XX/XX/XXXX. He also told me to continue paying my trial amount XXXX until the final modification was completed, which was XXXX. After months of contacting Penny Mac to finalize my loan modification and update my account, they waited until Friday XX/XX/XXXX to tell me that XXXX XXXX XXXX cancelled my modification in XX/XX/XXXX and mailed me a letter which I never received. Why didnt XXXX tell me this on Wednesday XX/XX/XXXX when she reviewed my account? Ive made every payment since XX/XX/XXXX and now they have decided to foreclose without honoring the agreement or allowing me an opportunity to seek the following. 1. Mediation 2. Short Sale of the home 3. Fair Market Sale 4. Deed in Lieu of Foreclosure 5. Assumptions upon sale if applicable. Please let me know what assistance your office provides to customers that was approved for modification and XXXX XXXX XXXX/Penny Mac refuses to assist and start foreclosure proceeding on your property. Enclosed are the following documents : 1. XX/XX/XXXX approved Modification documents from XXXX XXXX XXXX 2. Letter showing the transfer of loan to Penny Mac and the returned payment on XX/XX/XXXX from XXXX XXXX XXXX. 3. Court documents showing a date of XX/XX/XXXX when they started the foreclosure proceedings which is 2 days before XXXX XXXX XXXX returned my payment and asked me to make payments to Penny Mac. 4. Documents showing all payments made since XX/XX/XXXX 5. Motion papers and denied letter from the court 6. Letter to show a status report from the court XX/XX/XXXX 7. Letter from attorneys office showing the foreclosure date 8. Returned check from Penny Mac 9. Letter from Penny Mac stating that I havent made payments since XX/XX/XXXX. It also included the reinstated amount needed is XXXX FYI incorrect amount 10. Foreclosure ad with the amount needed of XXXX which is less than the XXXX that they claim I owe. 11. Email from XXXX. 12. Copy of final modification document showing the approval with the wrong last name. Please let me know if your office can assist. I appreciate you taking the time to review my case. Thanks! Case # XXXX. FYI : ALL COURT DOCUMENTS ARE MISSING COURT STAMP AND I NEVER RECEIVED A LETTER FROM XXXX OR PENNY MAC STATING THAT THIS LAW OFFICE WOULD BE REPRESENTING THEM. ALL OF THE CURRENT DOCUMENTS THAT IVE RECEIVED DONT HAVE XXXX OR PENNY MAC LISTED AS LENDER. ALSO, THE FORECLOSURE PROCESS HAVE HUGE DISCREPANCIES, FROM TO THE AMOUNT OWED, THE START DATE OF THE FORECLOSURE WHEN THE LAW OFFICE LISTED THAT I HADNT MADE PAYMENTS FOR A YEAR BUT CONTINUE TO RECEIVE PAYMENTS FROM ME UNTIL THEY RETURNED IT IN XX/XX/XXXX. XXXX XXXX XXXX cell
Company Response: Closed with explanation

Timely Response

2018-05-30

W Jordan, UT

Struggling to pay mortgage

Mortgage: FHA mortgage

Company Response: Closed with explanation

Timely Response

2018-05-30

Cadwell, GA

Struggling to pay mortgage

Mortgage: Other type of mortgage

Company Response: Closed with explanation

Timely Response

2018-05-25

N Brunswick, NJ

Trouble during payment process

Mortgage: Conventional home mortgage

Company Response: Closed with explanation

Timely Response

2018-05-23

Brockton, MA

Took or threatened to take negative or legal action

Debt collection: Other debt

Seized or attempted to seize your property
Company Response: Closed with explanation

Timely Response

2018-05-23

Hinsdale, IL

Trouble during payment process

Mortgage: FHA mortgage

Complaint: PENNYMAC TRIES TO KEEP AND PROFIT OF MY INSURANCE CLAIM CHECK WHILES I HAVE NO HOME TO LIVE IN I HAD WATER DAMAGE IN MY HOME AND FILED A CLAIM WITH MY INSURANCE COMPANY. TYPICALLY, INSURANCE COMPANY WILL WRITE A CHECK TO YOU AND THE MORTGAGE COMPANY. ORIGINALLY, MY MORTGAGE COMPANY WAS XXXXXXXX XXXX XXXX AND I HAD NO ISSUES. THEN MY LOAN GOT TRANSFERRED TO PENNYMAC. THIS IS WHERE MY HEADACHE STATRTED. PENNYMAC IS JUST REFUSING TO RELEASE MY INSURANCE CLAIM CHECK. ITS STORY AFTER STORY. THE CHECK WAS RECEIVED BY PENNYMAC ON XX/XX/XXXX & I WAS TOLD IT TAKES 6 DAYS TO PROCESS AND SEND US OUR CHECK. I EVEN SENT A POST PAID ENVELOPE FOR EXPEDITED DELIVERY. EVERYDAY I CALL, ITS ANOTHER 6 DAYS. THE CHECK WAS SENT TO THEM XX/XX/XXXX, ALL REQUIREMENTS HAVE BEEN SENT TO THEM BUT THEY ARE REFUSING TO PAY THE MONEY.CONTRACTORS ARE WORKING IN MY HOME AND NEED TO BE PAID. I HAVE BEEN OUT OF MY HOME FOR 6 MONTHS NOW AND NEED TO GET BACK HOME I JUST WANT MY MONEY ASAP. THE MONEY IS NOT THEIR MONEY, ITS TO BE USED TO PAY CONTRACTORS WHO HAVE WORKED TIRELESSLY IN THE HOME. THE WORK HAS BEEN DONE, THEY HAVE SENT SOMEONE TO INSPECT BUT THEY STILL WANT TO KEEP THE INSURANCE MONEY. ALL I NEED TO THE CHECK ASAP AND I WILL FIND ANOTHER COMPANY TO FINANCE MY HOME. I WANT THE CEO TO CALL ME AND EXPLAIN THIS BECAUSE THIS IS NOT FAIR TO HOMEOWNERS IF THIS IS HOW THEY BEHAVE
Company Response: Closed with explanation

Timely Response

2018-05-22

FL

Closing on a mortgage

Mortgage: FHA mortgage

Complaint: On XX/XX/XXXX, we called PennyMac Loan service to get a payoff for our mortgage. They told us that it would take 7 to 10 business days to receive it. We asked if there was a way to expedite the process because our closing was on Friday XX/XX/XXXX. We called the week of the XX/XX/XXXX and every time the title company and my husband and I called, they said " its pending '' call back later. But it is expedited. They said during one phone call that our house was in the process of foreclosure and it was given to an attorney. However, when we asked them about the attorney 's contact information the loan service said that the attorney would charge every time we called which would add to our expenses which stopped us from calling the attorney 's office. One day my husband called the attorney 's office and asked if he spoke to someone about the process our house was in, would we get charged just for inquiring? They said absolutely not. Therefore, the loan service had lied. Our title company has been authorized to call our loan service as well and everytime they call, customer service is super rude and saying there is absolutely nothing the loan service can do. They say to contact the attorney because that is what they are waiting on. We are well past the 10 day mark-up and yesterday my title company called and the loan service said " oh well because it is in the process of foreclosure is could be up to 2 weeks before receiving the payoff. '' This was never stated and the process has not gotten into depth. We called the attorney 's office and they said they have done everything on their part and now we are waiting on the loan service to finish up the final product. We are going in circles and there are still no numbers given of when it will be done and how much we are looking at paying. They are harming me of my financial state. I am not paying the added up charges and interest they are accruing for every day after the 10 day marking period when I should have had my payoff in the first place.
Company Response: Closed with explanation

Timely Response

2018-05-22

Milwaukee, WI

Applying for a mortgage or refinancing an existing mortgage

Mortgage: Conventional home mortgage

Complaint: I have a Problem with how my Mother 's Death is Being used for Profit. In XX/XX/XXXX my Mother Passed away and I was on Her Mortgage as a Co borrower.At That time XXXX had the Loan. I Submitted my Mother 's Death Certificate but my name is not on her death certificate as power of Attorney.So The Loan Was sold To Penny Mac Loan services and was done as a way to profit off my Mother 's Death.Penny Mac Got the Loan in the about XX/XX/XXXX.Heres were the situation went totally wrong, Once the death certificate got to Penny Mac They should have went at the Power of Attorney for the Pay off of the loan.Instead they came after me and clearly came with the intent to scam me out of my mother 's home. In XX/XX/XXXX the Home went into foreclosure and the Power of Attorney wasn't held accountable for the funds to pay off the home. I was held accountable, but I wasn't the power of attorney over my Mother 's Estate.I was continually harassed for 5 year 's by Penny Mac unfair business practices.On XX/XX/XXXX, Penny Mac Sold the Loan to XXXX XXXX XXXX once they figured that they over looked the name of the power of attorney on my mother 's death certificate.Now XXXX is trying to continue this illegal game of Death. I am not the power of attorney of my mother 's estate. My Mother was the primary holder of the Loan and I was a Co borrower.The Power of Attorney on my mother 's death certificate should be held responsible for any dealings with these mortgage companies.Once the company 's realize they made a horrible mistake by how I was and am being treated, what will be done. Both companies should have my mother 's death certificate so they should have to produce it with a explanation of this Illegal Practice.
Company Response: Closed with explanation

Timely Response

2018-05-22

Waughtown, NC

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Company Response: Closed with monetary relief

Timely Response

2018-05-22

TX

Trouble during payment process

Mortgage: VA mortgage

Complaint: I am a XXXX XXXX Veteran of 23 years with over 30 years of combined federal service. My wife and I just finished building our retirement home with permanent VA financing originally provided by XXXX XXXX XXXX XXXX XXXX On XX/XX/XXXX, before our first monthly payment was due, the loan was transferred to a new Mortgage Servicing Lender ( PennyMac ). On XX/XX/XXXX, we received a letter from PennyMac that FEMA had modified the flood maps changing our property from flood zone XXXX to flood zone XXXX ( Special Flood Hazard Area ). Although to date we have not received any official notification from FEMA of the change, we have been required by PennyMac to purchase flood insurance under threat that they will purchase insurance on our behalf and adjust our monthly mortgage payment accordingly. The cost of flood insurance if PennyMac were to purchase it on our behalf was a staggering {$2900.00} per annum while the cost of FEMA insurance is {$450.00} per annum. This is a scam of outrageous proportion and should not per permitted under US law. Several items to consider follow. Despite our cooperation, we have been continually harassed by PennyMac who has sent a multitude of threatening letters over a very short period of time. Between the letters and several lengthy phone calls Im still not sure the Lender isnt going to come back with some bogus additional charges. A record of these letters and phone calls is attached as Exhibit A. The most egregious issue is the lender wanting to back charge us for flood insurance. The original notification from the lender of the FEMA map change was on a letter dated XX/XX/XXXX. That letter required us to purchase flood insurance within 45 days which we did on XX/XX/XXXX. The insurance was purchased through FEMA which requires a 30 day implementation period from the date of purchase and so it did not become effective until XX/XX/XXXX. Now the lender wants to charge us {$330.00} for the period XX/XX/XXXX to XX/XX/XXXX to purchase flood insurance on our behalf that is not covered under the FEMA policy. This is criminal, who actually sells insurance for a past period of time? Wanting to charge for insurance for a period of time that has already past and should have been covered by the 45 day grace period ( XX/XX/XXXX notification + 45 days = XX/XX/XXXX ). Our FEMA policy became effective XX/XX/XXXX and so was within this 45 day grace period. What gives a private corporation ( Lender ) the right to automatically change the terms of a written contract that was sold to them by the previous party to that contract? Where are the protections for the consumer? Apparently the lender is equal to the IRS and is prosecutor, judge and jury? Read any reviews of PennyMac on the web and you will find hundreds of frustrated people. Something should be done. In XX/XX/XXXX PennyMac settled a Class Action lawsuit for force-placed insurance on home owners in such a manner that it received an unauthorized benefit or kick back from the insurance companies. Apparently they havent learned their lesson. Perhaps the Consumer Financial Protection Bureau needs to have another look at PennyMac. These are hostile lending practices and this is no way to be treating Veterans.
Company Response: Closed with explanation

Timely Response