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 12
2019-02-01
Juniper Hills, CA
Trouble during payment process
Mortgage: VA mortgage
Complaint: I initially had my home loan with XXXX XXXX XXXX XXXX who never had any trouble assessing property tax. My loan is impounded so the tax should be collected each month. They did not require money from me at the end of the year and in fact I received an escrow check. When the loan was purchased by Penny Mac they could see what I paid in property tax. Last year they asked for money to cover a shortage and if I could not do this they would spread the amount over the next 12 months. This results in me paying more interest on a loan that will each year have a higher payment because they either can not figure out property tax or are purposely engaging in unethical business practices. I have spoken with them before about this as well as emailed them last year. I as a single consumer can not fight an unethical or incompetent company please advocate for me as I am on a fixed budget. My sole income is XXXX and this company infuriates me and causes me unneeded worry.
Sincerely, XXXX XXXX
Company Response: Closed with explanation
2019-01-29
Deephaven, MN
Trouble during payment process
Mortgage: Other type of mortgage
Company Response: Closed with explanation
2019-01-27
WI
Trouble during payment process
Mortgage: VA mortgage
Complaint: I have a VA home loan. The originating XXXX, XXXX XXXX XXXX put the paper out onto the market where it was assumed by PennyMac Financial, XXXX XXXX, CA. As a XXXX Veteran, my home State of Wisconsin allows me full credit for my property taxes if they are paid, in full, by the close of the calendar year. PennyMac has billed me and held the tax amount in an escrow account.
Well in advance of the tax due date, I phoned and e-mailed PennyMac offering specific information to ensure my property tax bill would be paid from the escrow account. I received a reverse thrill on XX/XX/2017, when the Township Treasurer informed me that payment for the taxes were not received. I paid the amount due out of my own pocket. What occurred from that point was a litany of fables and no release of the funds from my escrow account.
The number of roadblocks and disingenuous statements I received proved to me that PennyMac has a policy to delay payment of escrow amounts to enrich themselves. I understand " working the float '' and their collective errors could not be happenstance. Only after pressure was applied to PennyMac by XXXX, did I receive some degree of solution to the problem.
Company Response: Closed with explanation
2019-01-25
Vero Beach, FL
Problem with a credit reporting company's investigation into an existing problem
Mortgage: FHA mortgage
Company Response: Closed with explanation
2019-01-24
Houston, TX
Trouble during payment process
Mortgage: FHA mortgage
Complaint: For the past two or three months, I have been charged a {$15.00} fee. There is no description or reason listed for the fee on the monthly statements. I reached out to PennyMac and XXXX claims that I was late on my mortgage in XX/XX/2018 and XX/XX/2018. I have NEVER been late on my mortgage. I was participating in a plan because of Hurricane Harvey and as a result, I should never have been charged any fees, penalties, etc.
Company Response: Closed with explanation
2019-01-23
Reno, TX
Struggling to pay mortgage
Mortgage: FHA mortgage
Company Response: Closed with explanation
2019-01-22
Brandywine, MD
Struggling to pay mortgage
Mortgage: FHA mortgage
Company Response: Closed with explanation
2019-01-19
Brandywine, MD
Struggling to pay mortgage
Mortgage: FHA mortgage
Complaint: XXXX XXXX XXXX XXXX XXXX : Loan # XXXX FHA Case # XXXX XXXX XXXX, 3rd Party User, called my lender on ( XX/XX/XXXX ) @ approx. XXXX XXXX XXXX EST, spoke to XXXX, XXXX, Customer Services, to confirm if my Authorization, the 84 pages of the FHA Pre-Foreclosure ( PSC ) documents were received and have the appraiser call him to set up time for his visit. She stated the documents were received on ( XX/XX/XXXX ) and that he should back to follow up on the appraiser status.
XXXX called back several times to, XXXX XXXX, XXXX @ XXXX, she stated to XXXX that he had no Authorization yet transferred him to the Short Sale Department, XXXX XXXX , Loan Resolutions Specialist. He also stated XXXX had no Authorization yet that he could email and/or call XXXX, XXXX @ XXXX, XXXX, to followup on the file. XXXX called her she didnt pickup so he left her an email message to call him back. XXXX called again spoke to XXXX, XXXX @ XXXX XXXX, still XXXX had no Authorization, etc. XXXX called back again spoke to XXXX, ID # XXXX, Loan Counselor Division @ XXXX EST. He confirmed XXXX had Authorization and they received the 84pages was then transferred to, XXXX ID # XXXX, Escalations Collections Department. She also stated the Authorization and the 84 pages of the documents were received on ( XX/XX/XXXX ) and that no short sale Option was available because there wasnt sufficient ( days ) time to postpone the foreclosure ( XX/XX/XXXX ) sale date.
XXXX stated to Timesha that the judicial process for a foreclosure in the State of Maryland is ( 21 ) days that PennyMacs discretionary business practice contradicts violates FHAs Loss Mitigation Options, Handbook 4000.1, violating a US Government-insured product that PennyMac is required to obey the FHA Guidelines.
PennyMacs discretionary guidelines, argument, delay, tactic to ratify [ this ] Foreclosure Sale is outside of FHAs Loss Mitigation Options endeavoring no resistance of illegal foreclosure business practices/activities to forbid disavow our foreclosure Rights or worse profiling XXXX ( minorities ) retired senior citizens, nix ( {$0.00} ) relocation money, ruin our credit and pursue a deficiency judgment its the perfect crime ( why ) there is no sufficient days ( required ) before the foreclosure sale pursuant to the FHA Loss Mitigation Options, Handbook 4000.1, Sections III.A.2.j ; III.2.I.i. ( A ).
FHA Guidelines allow us to short sale our property for the ( {$3000.00} ) relocation assistance with no pursuit of a deficiency judgment. If the foreclosure sale and/or ratification occurs, PennyMac and all ( said ) Parties involved will have committed a felony. PennyMac can not be allowed to circumvent the Law of Unauthorized Mortgage Account foreclosure business practices this is very similar to the Court approves XXXX XXXX XXXX XXXX settlement for allegedly lying about fake accounts. Shareholders accused the bank of lying about cross-selling tactics XX/XX/XXXX, XXXX XXXX said business practice is much worse.
If the request for short sale is not rebutted by written response following your receipt of this Compliant, I will presume said above facts to be correct and will enforce my Rights against any and all Banks, Servicing Companies and/or persons who violate my Rights willfully or out of ignorance of the Law.
A denial of Due Process will be deemed an act of conspiracy and conversion and will be escalated to the TV stations channels XXXX, XXXX, XXXX, and XXXX Investigations Teams, my State Delegates, Senator, Governor, Office of the Comptroller of the Currency, State Attorneys General Office, XXXX XXXX, XXXX XXXX, XXXX XXXX XXXX, XXXX XXXX XXXX XXXX, etc. XXXX XXXX XXXX. : XXXX XXXX Agrees to Pay XXXX XXXX to Resolve Consumers Class Action Lawsuit About Unauthorized Accounts, will be hired to file this Class-action suit ( yes ) will cost PennyMac millions.
UNDER PENALTY OF PERJURY, I have examined the statements of fact presented in this letter with XXXX and to the best of our knowledge and belief, is true, correct and complete. All calls were monitored and recorded ( phone transcript ) will verify the conversation with the above Parties.
Company Response: Closed with explanation
2019-01-18
Oxford, GA
Closing on a mortgage
Mortgage: Conventional home mortgage
Complaint: I went through court ordered mediation in XX/XX/2013 with PennyMac. They approved the refinance but illegally added over {$6000.00} dollars in legal fees and sold off my account to XXXX. This has increased my monthly payments and the low finance rate they promised. This has affected the total amount owed and made my debt to income rate artificially higher. I want to request that a qualified written request be done immediately.
Company Response: Closed with explanation
2019-01-18
King George, VA
Struggling to pay mortgage
Mortgage: Conventional home mortgage
Company Response: Closed with explanation
2019-01-18
Washington, DC
Trouble during payment process
Mortgage: VA mortgage
Complaint: Good Afternoon, I have 30 years mortgage loan ( Loan # XXXX ) with XXXX XXXX XXXX XXXX , XXXX.
For the pasts five year, I have been making payment to XXXX XXXX for time manner. Unfortunately the Loan was sold to Penny Mac. By law, the new owner of your loan must notify me within 30 days of effective date of transfer.
I have never received notice from Penny Mac Loan No. XXXX or XXXX XXXX.
Now I'm getting harassment phone calls from Penny Mac stating my loan is default.
Company Response: Closed with explanation
2019-01-17
East Brooklyn, CT
Unable to get your credit report or credit score
Credit reporting, credit repair services, or other personal consumer reports: Credit reporting
Other problem getting your report or credit score
Company Response: Closed with explanation
2019-01-16
Newport, TN
Trouble during payment process
Mortgage: Other type of mortgage
Complaint: I sent an insurance claim check to PennyMac in the amount of {$33000.00} ; they received and cashed on XX/XX/XXXX. I submitted all information they required with exception of contractor 's license and signed XXXX. The contractor has now backed out because of the length of time this is taking to get funds disbursed.
I sent a written request to Pennymac on XX/XX/XXXX along with estimates for materials needed for the repairs. I need to go ahead get the materials ordered before they are no longer available. They advise it takes 2 days to process your request, so I called on XX/XX/XXXX to make sure they received the request and confirmed they did. I called back on XX/XX/XXXX to get an update on the request and was told they needed signed XXXX and license from contractor. I explained the request was to release funds to buy materials only, not pay contractor which was very well explained in my request. I was told they would put in the request that day, XX/XX/XXXX and would have an update for me no late than XX/XX/XXXX and would be good idea for me to call back because they probably would not contact me.
I called back on XX/XX/XXXX and was told the request had to go to their " corporate '' office for review and it could take an additional 11 days for a decision and the request was submitted to corporate on that day, XX/XX/XXXX. I was told again to call back to check status next week.
Company Response: Closed with explanation
2019-01-15
Alta, CA
Trouble during payment process
Mortgage: FHA mortgage
Complaint: I contacted pennymac today XXXX and asked to uave PMI removed from my FHA mortgage since it had been over 2 years and my LTV is below 80 %. They stated that i had to have PMI for the entire life of the loan.
I dont belive this is true.
Please advise my options.
Company Response: Closed with explanation
2019-01-14
Cheyenne, WY
Trouble during payment process
Mortgage: VA mortgage
Company Response: Closed with explanation
2019-01-11
Woodland, WA
Struggling to pay mortgage
Mortgage: VA mortgage
Complaint: I am pleading with you to please help me with my lienholder, Pennymac. About 8 months ago, we had to stop making payments due to financial hardship. We are a family that goes above and beyond for each other. We've had XXXX if not XXXX of our kids live with us during our duration of owning the home. Back in XX/XX/XXXX my wife had to have XXXX and that put our income down to one. Then in XX/XX/XXXX/XX/XX/XXXX my wife started experiencing XXXX and XXXX XXXX XXXX XXXX which made her part time job even more part time. In XX/XX/XXXX, my wife had to have XXXX XXXX due to a XXXX XXXX XXXX XXXX XXXX. There was very XXXX XXXX XXXX going down her XXXX. Due to that XXXX she has not been able to return to work due to XXXX XXXX XXXX XXXX XXXX XXXX. Finding a job that she can do has been difficult for her. We did get a modification during XX/XX/XXXX and things were going ok until our property taxes went up so much that it raised our payment by XXXX. There fore making our payment higher than the original payment. While trying to help our kids during this time as well, I changed my withholdings and forgot to change them back. Which resulted in the IRS putting my withholdings at XXXX and freezing it so i can't change it. This has really put us in a position of having to figure out what to pay and not pay. We knew months ago that we would not be able to get caught up so we decided to put the house on the market for XXXX without doing any kind of short sale. For we had no intentions of a short sell at all. We finally got an offer, but due to repairs that need to be done on the house, the buyer backed out. We could not afford to fix the repairs. During the time that this all this is going on, my wife 's nephew and girlfriend left there son here and have not returned. We are now taking care of him and trying to figure out how to keep all the bills paid. On XXXX XXXX my wife was in a car accident and is going through all kinds of XXXX and doctors appt, so for her to look for work is out of the question at this time. This is a real financial hardship for us.
Company Response: Closed with explanation
2019-01-10
Woodland, WA
Struggling to pay mortgage
Mortgage: Conventional home mortgage
Company Response: Closed with explanation
2019-01-10
Santa Ysabel, CA
Trouble during payment process
Mortgage: Conventional home mortgage
Complaint: On XX/XX/XXXX PennyMac loan services purchased my 30-day old mortgage from XXXX XXXX that originated on XX/XX/XXXX. The original loan with XXXX XXXX came with all of the supporting documents including a Flood Certificate (Standard Flood Hazard Determination Form SFHDF, FEMA Form XXXX) indicating the insured property was in Flood Zone-X and NOT in a Special Flood Hazard Area.The day after PennyMac purchased my loan from XXXX, XX/XX/XXXX, they sent me a letter claiming that "they received a change in the Federal Emergency Management Agency (FEMA) map for my property" and that because of the “FEMA Map change”, my property was now in the Special Flood Hazard Area Flood Zone-A. As such they claimed that Flood Insurance was required immediately. PennyMac provided no proof of a FEMA map change and instead insisted on Flood Insurance coverage for the property which they claimed was now in a high-risk Flood Zone-A because of the map change. The letter claimed that they would force lender-placed flood insurance on my property if I did not provide Flood Insurance or a FEMA Letter of Map Amendment (LOMA) within 45 days.There were numerous calls to PennyMac during XX/XX/XXXX and XX/XX/XXXX (XX/XX/XXXX) asking for proof of a FEMA map change. The official FEMA website states that the map for my property (XXXX) was effective on XX/XX/XXXX and there have been no revisions since XX/XX/XXXX. PennyMac was never able to offer any proof of a FEMA map change for my property-because it does not exist. The XX/XX/XXXX PennyMac letter was pure fraud as the FEMA map had not been changed since XX/XX/XXXX. The lender forced flood insurance is very expensive and PennyMac offered no remedies other than providing a LOMA statement from FEMA. The LOMA process at FEMA is long, expensive, and complicated. I had to hire a surveyor and it cost me $XXXX for an elevation survey and supporting documents to obtain the LOMA. The LOMA was received from FEMA on XX/XX/XXXX, but PennyMac has refused to fully refund the $XXXX premium on flood insurance they forced in XX/XX/XXXX. The remaining flood insurance premium yet to be refunded is $XXXX.What is even worse, I was never billed for the forced flood insurance, instead PennyMac re-directed additional monthly principal loan payments I made to an escrow account they created which was not part of the original note terms. Further, they have changed/increased my monthly loan payment amount to cover future flood insurance premiums even though the flood insurance was cancelled on XX/XX/XXXX will never be needed. While I have made at least thirty calls to PennyMac over the last five months, my last call was to their corporate headquarters in an effort to remedy this issue. In XX/XX/XXXX I spoke to Ms. XXXX XXXX (XXXX X-XXXX) in their “Escalations Department” who claimed to be able to help but she never called back and has failed to return my numerous voicemail messages.
Company Response: Closed with monetary relief
2019-01-07
Fontana, CA
Struggling to pay mortgage
Mortgage: FHA mortgage
Company Response: Closed with explanation
2019-01-04
Fort Stewart, GA
Struggling to pay mortgage
Mortgage: Other type of mortgage
Company Response: Closed with explanation
2019-01-04
Lewisville, TX
Trouble during payment process
Mortgage: FHA mortgage
Complaint: XX/XX/XXXX : PennyMac Loan Services, LLC, XXXX XXXX XXXX, XXXX XXXX, XXXX XXXX, CA XXXX, XXXX. NMLS ID # XXXX provided payoff statement on XX/XX/XXXX for XX/XX/XXXX. The amount was {$190000.00}.
XX/XX/XXXX PennyMac Services, LLC received the wire transfer on XX/XX/XXXX XXXX XXXX XXXX has confirmed that PennyMac has received the Payoff ( {$190000.00} ) on XX/XX/XXXX at XXXX EST.PennyMac did not provide a written final payment statement after request.
XX/XX/XXXX to XX/XX/XXXX Pennymac has not applied for the payments correctly and closed the loan.
PennyMac has not responded to the written emails.
PennyMac has not provided the final statement and the ETA to release the lien.
Customer Complaints : Applying your payments correctly, Misreporting mortgage account status to you or to credit reporting agencies, Paying additional fees
Company Response: Closed with explanation
2019-01-03
TX
Attempts to collect debt not owed
Debt collection: Mortgage debt
Debt is not yours
Complaint: As of XX/XX/XXXX, PennyMac loan started reporting derogatory/foreclosure information in the amount of XXXX to XXXX credit agency. XX/XX/XXXX my divorce from was final and my ex-husband was awarded the home. During the year of XX/XX/XXXX, I learned that the mortgage payment was not being made on the home. He had filed bankruptcy. In attempt to save my credit, I called Penny Mac and upon every call, they stated that they could only provide limited information because the house was in bankruptcy proceedings. As of XXXX of XXXX, I started the short sale proceedings. The first agent XXXX XXXX whom I contacted on XX/XX/XXXX received the documents but did nothing with them. Never hearing from anyone, again, I started making calls again, only to be told again that I would be given limited information because the home was in bankruptcy.
XX/XX/XXXX we began to work with XXXX XXXX ( documents attached ). Ms. XXXX held our information and she did not respond upon receiving our information either. After several attempts of trying to contact her, I had to call her supervisor several times to get a return call from Ms. XXXX. After speaking with XXXX, she stated that our paperwork was in their California office and was never scanned in the system.
A year and some months later, with much missed informed information and being given the run around, all of our required documents were received by PennyMac. I was told that the short sale was denied stating that PennyMac did not have enough time to review our information. This is not true. PennyMac had approximately a year. If it was not enough time for them to review it was because of Penny Mac not forwarding the information in a timely manner. Even to that I never received a denial letter. I called Penny Mac and spoke to XXXX XXXX and he emailed me the denial statement ( attached ). The emailed a short sale letter from XXXX XXXX of Penny Mac dated XX/XX/XXXX states, Your request was submitted with insufficient time to evaluate the short sale prior to the scheduled foreclosure sale therefore, we can not review you for any Loss Mitigation Options at this time. The Investor on your loan/Mortgage insurer did not approve the short sale.
I have never felt so humiliated in my life. This I do not understand because : 1. I was divorced and the home was awarded to my ex-husband on XX/XX/XXXX.
2. When I started making phone call after I was informed of the late payments by mail and in order to save my credit, I was told that Penny Mac could only give me limited on the information because the home was in bankruptcy.
3. I started the short sale processing in XX/XX/XXXX and had provided everything that was asked but the home still went into foreclosure.
By the court, I am not legally responsible for and I did everything in my power to correct this issue the best I could with limited information.
Frustrated, I began to research how to get a foreclosure removed from you line of credit, I came across the bulleted statements below. The bulleted statements states what a mortgage company would have to do and I also gave my experiences. As I recall Penny Mac did not offer any of these things : Direct access to a service representative. You should not have to go through a call queue.
o Many times, the representative was not present, and I ended up in the hold queue anyway or receiving a call two to three days later.
After you have missed two consecutive payments, the servicer must tell you about loss mitigation options.
o I had to call PennyMac to find out about this process.
The servicer must consider all foreclosure alternatives. They can not steer you to options most beneficial to them.
o I was not counseled on any options. I questioned the short sale option because we had several buyers who wanted to purchase the home and I could not think of anything else for use to be able to move forward with the sale. Again, information given to me was limited due to XXXX having the home in bankruptcy. Within the email you can see where I asked Ms. XXXX to sit down with us to explain all options and the meeting never took place.
If you have applied for loan modification at least 37 days before your scheduled foreclosure sale, the servicer must consider and respond to your application. The servicer also needs to give you time to accept the offer.
o I was not given this option. Again, it took me calling Penny Mac only to find out that the short sale option was denied. I was told by XXXX XXXX that there was nothing else I could do because the house was scheduled for sale.
The servicer can not foreclose if you have come to a loss mitigation agreement, unless you fail to meet the terms of the agreement..
o This was not given to me as well.
Company Response: Closed with explanation
2019-01-03
Three Bridges, NJ
Struggling to pay mortgage
Mortgage: Conventional home mortgage
Complaint: PennyMac continues to knowingly engage in the prohibited practice of dual tracking while having received timely all the required documents and financial information from the borrower requesting a loan modification.
PennyMac received within 37 days prior to the scheduled foreclosure sale of XX/XX/XXXX, a completed application with supporting documents.
Penny acknowledged receipt and never provide any missing documents letter to date.
PennyMac is claiming that they stopped the foreclosures sale of XX/XX/XXXX, to review the mortgage assistance application. This is totally false. PennyMac played no role or part in stopping the sale of XX/XX/XXXX.
I confirmed, the Sheriffs office received " NOTHING '' in writing from PennyMac or its legal representative to stop the foreclosures sale of XX/XX/XXXX. The Sheriffs office has no written records of PennyMac making any efforts to stop the foreclosure sale of of XX/XX/XXXX.
I personally had to go to the Sheriffs Office on XX/XX/XXXX, in order to make the request to adjourn the foreclosure sale and have attached proof of my efforts.
The attached letter from the Sheriff 's Office confirms, I stopped the sale of XX/XX/XXXX and not PennyMac or it's legal representatives Therefore, PennyMac is still engaging in the prohibited practice of dual tracking and never properly reviewed my mortgage assistance application, which was sent to them on two separate occasions and prior to the 37 days prior to the scheduled foreclosure sale of XX/XX/XXXX, and new foreclosure sale date of XX/XX/XXXX.
Company Response: Closed with explanation
2019-01-02
Bueche, LA
Struggling to pay mortgage
Mortgage: FHA mortgage
Company Response: Closed with explanation
2018-12-31
Ft Lauderdale, FL
Struggling to pay mortgage
Mortgage: Conventional home mortgage
Complaint: This is a second complaint. PennyMac has stated they denied my modification in prior CFPB response because I have not made 12 payments on the loan. This is not what their customer service rep stated and what their denial letter states. " We are unable to offer you a modification because you obtained your loan within the last 12 months. '' I was advised by origination date verbally on the phone and told to reapply in XXXX and both denial letters to do not reference having not made 12 payments.
Company Response: Closed with explanation