PENNYMAC LOAN SERVICES, LLC

2019-08-15

Chesapeake, VA

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Company Response: Closed with explanation

Timely Response

2019-08-15

Conyers, GA

Trouble during payment process

Mortgage: Conventional home mortgage

Company Response: Closed with explanation

Timely Response

2019-08-14

Dowling Park, FL

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

Timely Response

2019-08-13

Lk Buena Vis, FL

Closing on a mortgage

Mortgage: Conventional home mortgage

Complaint: On XX/XX/XXXX Penny Mac Holdings, LLC, And PennyMac loan services transferred my loan to XXXX XXXX XXXX WITHOUT LEGAL STANDING, BECAUSE ONXX/XX/XXXX, the Judge For the Ninth Judicial Court DENIED A ORDER SUBSTITUTING PARTY PLAINTIFF, AND THE COURT HAVING REVIEWED THE FILE AND BEING OTHERWISE DULY ADVISED IT IS THEREUPON, ORDERED AND ADJUDGED : THE PLAINTIFFS MOTION TO SUBSTITUTE PARTY PLAINTIFF IS HEREBY DENIED ( SEE ATTACHMENT ).
Company Response: Closed with explanation

Timely Response

2019-08-13

Galena, OH

Incorrect information on your report

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

Account information incorrect
Complaint: For my mortgage. It shows that I'm 60 days past due for XXXX but I am only 30 days past due.
Company Response: Closed with explanation

Timely Response

2019-08-09

Downey, CA

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Company Response: Closed with explanation

Timely Response

2019-08-09

SC

Trouble during payment process

Mortgage: FHA mortgage

Complaint: On XX/XX/XXXX I received a letter from PennyMac Loan Services, my mortgage company, stating that I need to verify coverage for wind and hail insurance for the time period of XXXX. They had sent me a letter prior to this stating that I needed the same coverage for XXXX and that if I could not provide proof of coverage I would be able to get it or they would provide it for me. Due to the initial letter, I obtained coverage for the year XXXX. This was the first time I had received any notification that I needed this coverage and I resolved it immediately for the current year. After receiving the letter on XX/XX/XXXX I called them to find out how I was supposed to get coverage for a previous year and why I had not been notified of this last year. They told me it would be taken care of. I then received a letter dated XX/XX/XXXX that the coverage they purchased on my behalf was cancelled effective XX/XX/XXXX and the money would be refunded to my account. There was never any coverage purchased that I am aware of, if there was I would have been paying more in my mortgage every month and no money was refunded. I received another letter dated XX/XX/XXXX stating that they were planning on buying insurance for the property and I must pay them for any period which the insurance they buy is in effect, but I did not have insurance. I then received a notice dated XX/XX/XXXX, which states " second and final notice '' requiring me to provide insurance information for the property and they are unable to verify coverage from XXXX. Again they state that if I do not have wind coverage for my property for these dates it will be provided for me, by them, at my expense and it will be billed to my escrow account or added to my loan. It also states it may be more expensive and may not provide as much coverage. When I called to try and understand what was going on I was told " the insurance is required ''. When I questioned why I never received a notice last year about this I was given the answer " they thought I had coverage last year and when they saw I did not have coverage this year it flagged them to look back on last year ''. The woman then stated that it was an " oversight on their part ''. When I asked her why I was going to have to pay for their mistake I was told, once again, that it was required. When I asked her how I was supposed to obtain coverage for a year that passed she again stated " it's required ''. I then told her that no insurance company is going to provide me coverage for last year and I was going to call a lawyer. I've since spoken with several mortgage lenders and insurance agents and was told by all of them that there's no way to get coverage for last year and in there opinion it is ridiculous that I be charged for insurance that I never had both privately or through PennyMac. They should not be able to charge me for insurance they never bought and overlooked my not having. I don't understand how I was supposed to know it was required by them without getting any notifications. Once I received notification, in XX/XX/XXXX, I immediately obtained what was required.
Company Response: Closed with monetary relief

Timely Response

2019-08-09

ME

Written notification about debt

Debt collection: Mortgage debt

Didn't receive notice of right to dispute
Complaint: A week and a half ago I signed a contract to purchase a foreclosed property from a government entity penny Mac. The property is located at XXXX XXXX XXXX XXXX., XXXX, ME. The listing agent is XXXX XXXX of XXXX XXXX XXXX and the selling agent is XXXX XXXX XXXX XXXX XXXX XXXX XXXX. I have been making repeated attempts through my realtor XXXX XXXX to acquire the executed contract for my bank but Penny Mac is unresponsive. This demonstrates a poor business acumen and an inappropriate way to interact with the public.
Company Response: Closed with explanation

Timely Response

2019-08-09

NY

Trouble during payment process

Mortgage: Conventional home mortgage

Complaint: On XXXX/XXXX/19, I provided PennyMac with my homeowner 's insurance renewal documents which showed that the renewal amount was {$720.00}. I indicated to them this information because the amount they showed on the website to pay out was {$670.00} which was the incorrect amount. PennyMac responded back to me that they would research my concerns. On XX/XX/XXXX19, instead of paying out {$720.00}, they paid out the incorrect amount of {$670.00}. Again on XXXX/XXXX/19, I noticed that my escrow information was INCORRECT. Again, I sent my insurance renewal documents to PennyMac indicating that the correct amount to be paid was {$720.00}, NOT {$670.00}. Furthermore, PennyMac listed my next insurance renewal date as XX/XX/XXXX instead of XX/XX/XXXX since my policy is only for one year. So essentially they have the wrong dates and wrong amounts. Again, PennyMac responded back to me that they would research my concerns. It has now been past the 7 days that PennyMac said they would research and get back to me and no one has reached out to me, my escrow information is still incorrect, and my insurance renewal is STILL UNDERPAID. To avoid having my insurance lapse, I have already paid the difference that PennyMac didn't pay WHICH DEFEATS THE WHOLE PURPOSE OF HAVING AN ESCROW.
Company Response: Closed with monetary relief

Timely Response

2019-08-08

Key Biscayne, FL

Trouble during payment process

Mortgage: Conventional home mortgage

Complaint: I closed on my home in XX/XX/XXXX. My property survey submitted during closing indicated that my home was located in a flood zone that does NOT mandate flood insurance. On XX/XX/XXXX, I was informed by my lender, PennyMac USA, that I was missing required flood insurance documentation and if I had not provided it by XX/XX/XXXX, I would be charged for lender placed flood insurance in the amount of {$2700.00}. I provided my closing docs as well as my survey and they said it wasn't enough. I then had to go directly to FEMA to provide me with a XXXX documentation on my property. FEMA told me I needed to pay for an elevation certificate to obtain this, which I did XXXX {$150.00} ), and long story short, FEMA confirmed that I was NOT in a mandated flood zone. In fact, their XXXX utilizes a flood map that dates back to XX/XX/XXXX. I provided all the docs to PennyMac USA, but they still charged {$2700.00} to my escrow account, and are now refusing to refund me the full amount. They are claiming that I somehow had a lapse in coverage from XX/XX/XXXX to XX/XX/XXXX, which is impossible. I never knew my home needed a flood insurance policy as per my initial property survey, and my lender is essentially trying to steal {$2700.00} for something I never needed ... which I have proved through and through. Please help.
Company Response: Closed with monetary relief

Timely Response

2019-08-07

Vicksburg, MI

Attempts to collect debt not owed

Debt collection: Mortgage debt

Debt was result of identity theft
Company Response: Closed with explanation

Timely Response

2019-08-06

Galena, OH

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: I was laid off in XXXX, XXXX from XXXX. I had tried to find employment since we were notified in XXXX, XXXX but being unsuccessful I contacted PennyMac mortgage XX/XX/XXXX at XXXX pm because I was really nervous because at this time I had exhausted all of my savings and used most of my XXXX to make it through the layoff period since unemployment did not provide sufficient income to pay all of my obligations. I had the funds to make it through XXXX but was getting concerned and I was trying to be proactive in case I did not obtain employment before I had exhausted all of my resources. I called them and advised them of the situation since I had not yet gained employment. Never was I advised that I could not continue to make my payments as I always had which was online.. I talked to them again on XXXX and again on XXXX because my required information to them was not sending and I kept receiving error messages and again was never advised any issues about me making my payment. On XXXX I tried to make my normal online payment and after numerous attempts it would not let me submit my payment. I emailed them and have attached a copy of the email attempts to request help so I could make my payment. I contacted them on XXXX via phone at XXXX and was advised that no one but the person who was assigned my case could take my payment and they were closed until Monday. I was livid, I was trying to do the right thing and pay them but even the regular customer service number that I reached was blocked from taking my payment. I kept trying to make my payment and tried to reach someone who could take my payment on XXXX twice during the day, XXXX, XXXX two failed attempts, XXXX two failed attempts, XXXX all with no success because I was not able to find anyone who could take my payment. By this time I had gained employment again with XXXX. I just wanted my payment to be taken since never in my life had I been late on any payment let alone my mortgage payment, so I was frantic to say the least and was forced to take time off from my job on XX/XX/XXXX in my new position to be able to reach someone during their open hours just so I could make my payment. My new job hours were XXXX and by the time I got home they were closed and after spending my lunch periods for several days trying to reach someone which had failed because I was on hold too long and had to hang up since my lunch period was over. I finally reached my " caseworker '' and made both my XXXX and my XXXX payment. When I told him what had happened he replied that he had saw my numerous attempts to pay my mortgage and would take care of it. I even asked about the late fee because I had incurred it due to not being able to make my payment on the XXXX of XXXX. He assured me that he would take care of it and advised me because I was seeking assistance that my account was blocked from taking payments. I advised him that I was trying to be proactive in case I hadn't found employment but to remove me from this immediately. He told me that he would remove me and since then I have been able to make my payments online as I normally have. I did have to file bankruptcy after a nasty divorce in XXXX and was told I had to not make my mortgage payment during this process and this is the only time I did so, and I fought it all the way because at that time my credit score was over 820. I completed that and vowed to never again be put through that and never have missed any payments other than that once time and was forced to do so because of that. It killed me! Now to try and do the right thing and make my payments and try to be proactive before I was in trouble and to block someone from being able to make their payments is absurd. This is not right by any means then to be assured it was taken care of and to not only report me being late after NUMEROUS attempts to pay it before it would have been late and also tacking on a late fee is unjust and violates my rights as a consumer on so many levels. I will not step down when I have phone records and emails detailing my failed attempts to make my payment. I filed complaints with all 3 credit reporting agencies and they still disagree and refused to correct the reporting. I was only late because they would not allow me to make my payment! This is not right on any level!
Company Response: Closed with explanation

Timely Response

2019-08-06

Ft Belvoir, VA

Trouble during payment process

Mortgage: Conventional home mortgage

Complaint: In XXXX, I had called to ask about the process for removing PMI from our mortgage. In response, they sent a letter stating we would need to meet the 80 % LTV - which we knew, just wanted the process. We still had half a year before getting to the 80 % mark,XX/XX/XXXX. I called PennyMac at the beginning of XX/XX/XXXX to request removal of the mortgage insurance ( MI ) from our loan. I was told, per the documents I signed that it wouldn't be removed until some year in the future ( I do not remember what year but something like XXXX ). It couldn't be removed because it was an investment property. I asked where they got this date and they said on the MI disclosure we signed - I asked for a copy of the MI disclosure. The copy they provided actually showed XX/XX/XXXX which is what we had signed at settlement. No idea where their XXXX? date came from. On XX/XX/XXXX I officially requested in writing ( via their secure messaging system XXXX removal of the PMI associated with our loan. I provided a copy of the MI disclosure document that specifically states the date MI can be removed and that states this was not a high risk mortgage and that the above guidance applied. There are no other loan documents that modify the MI disclosure document. Additionally, the ability to remove MI at the 80 % point was material in our decision on proceeding with the subject loan. We would likely have made very different loan decisions as it impacts our bottom line. The response we received from PennyMac was " Unfortunately, the MI disclosure is a generic disclosure for primary residence. In your case, your property is an Investment property based on your loan application. After receiving your request for information on PMI deletion, I submitted a request for PMI deletion based on original value. Unfortunately, your loan does not qualify at this time, as your LTV must be below 65 %. You will receive a letter in the mail that will recap the above information. Presently your LTV is 79.90 %. ... '' The document may be " generic '' but that should not relieve its applicability if used. If a different disclosure for investment properties should have been used, that is not our error. We went into the mortgage contract in good faith and we were not the writers of the documents.Additionally, we even requested confirmation of the MI removal when we received the initial loan documents for review prior to settlement. It was verbally confirmed the MI would be removed at the 80 % LTV point. The attached file is what we provided to PennyMac via their secure messaging center on XX/XX/XXXX.
Company Response: Closed with monetary relief

Timely Response

2019-08-05

Upland, CA

Trouble during payment process

Mortgage: Conventional home mortgage

Company Response: Closed with monetary relief

Timely Response

2019-08-01

Colfax, IN

Struggling to pay mortgage

Mortgage: FHA mortgage

Complaint: I called and tried to pay and they refuse to take my payment because it is a partial payment. I want to pay them it says on my statement that any amount received less than the full amount will be applied into a suspense account until the full payment is made but they will not let me do this
Company Response: Closed with explanation

Timely Response

2019-08-01

City Of Sunrise, FL

Struggling to pay mortgage

Mortgage: VA mortgage

Company Response: Closed with explanation

Timely Response

2019-07-31

Royal Palm Beach, FL

Applying for a mortgage or refinancing an existing mortgage

Mortgage: VA mortgage

Company Response: Closed with explanation

Timely Response

2019-07-29

Taft, OH

Trouble during payment process

Mortgage: FHA mortgage

Complaint: Penny Mac bought my loan last XX/XX/XXXX, this XX/XX/XXXX they raised my escrow payment from {$300.00} to {$380.00}. my taxes went up around {$40.00} and insurance {$30.00}. all together {$70.00} does not meant i should have to pay Penny Mac an extra {$70.00} a month. At this point it is taking 3 of my 4 checks to pay my house payment. I do not understand how this is legal to ask for a lot more money than my actual taxes and insurance are. Also I have to pay a mortgage insurance I do not understand why. please help more or send me to someone that can.
Company Response: Closed with explanation

Timely Response

2019-07-26

San Gabriel, CA

Closing on a mortgage

Mortgage: Other type of mortgage

Complaint: On XX/XX/XXXX, I signed a closing eDoc, and on that document, it indicated that was was to get around {$16.00} for a refund. When the notary appeared at my home, those documents were different. I was to pay {$290.00}. I asked the notary about it, but he said he did not work for XXXX XXXX. He told me that I had 20 days to change my mind. I signed the documents, and then sent an email to XXXX XXXX, and I made a phone call. I figured they wee never going to call me back, so I called XXXX to set up the wire because I was afraid if I did not, I would get kicked out of the bank 's house. I downloaded the eDoc and I have to one from the notary. There are also other differences as well, but that was the first one I noticed. I thank you in advance for your assistance. XXXX XXXX XXXX
Company Response: Closed with explanation

Timely Response

2019-07-25

Vicksburg, MI

False statements or representation

Debt collection: Mortgage debt

Impersonated attorney, law enforcement, or government official
Company Response: Closed with explanation

Timely Response

2019-07-24

Portsmouth, VA

Trouble during payment process

Mortgage: VA mortgage

Complaint: I have a pennymac home loan. I lost my job in XXXX and was diagnosed with XXXX XXXX in late XXXX to early XXXX. I have made calls to the loan service department and the escalation departments of pennymac ; in excess of 40 calls to try and save my home from foreclosure. Despite my request for loan modification process XXXX 2019, calls on my behalf by the veteran affair mortgage assistance beginning in XXXX to current. I was denied the modification in XXXX 2019. The veterans affair representative advised me to petion for the VA foregiveness program offered to all veteran home loans. The forgiveness program was denied by Pennymac, even at the request of the VA loan representative. Payments made to Pennymac in the amount of {$580.00} were not applied to my loan but were being held in a suspense account. Pennymac was still unwiling to work with me after the denied loan modification and the VA loan forgiveness program. With no recourse I was forced to list of my home for sale on XX/XX/19. Pennymac refused to halt forclosure proceedings even though my house was up for sale. After borrowing money for various relatives I was able to wire {$4800.00} on XX/XX/19 as requested by pennymac letter date XX/XX/2019. Pennymac has continuously refused to halt the foreclosure processing even though my loan is now current. Instead they have charged an additional {$4000.00} for legal processing fees. Unless someone intercedes on my behalf I fear the loss of my home. I am seeking help with this complaint.
Company Response: Closed with explanation

Timely Response

2019-07-23

Salem, OR

Trouble during payment process

Mortgage: Conventional home mortgage

Company Response: Closed with explanation

Timely Response

2019-07-23

Desoto, TX

Closing on a mortgage

Mortgage: FHA mortgage

Company Response: Closed with explanation

Timely Response

2019-07-23

San Jacinto, CA

Struggling to pay mortgage

Mortgage: FHA mortgage

Complaint: I lost my job back in XX/XX/XXXX, I was still able to make my payments online up until XX/XX/XXXX, I made a payment to a woman at the mortgage company 1 card was charged for XXXX the other debit card was charged for the remaining balance. Also in XXXX i sent them XXXX but that money is no ware to be found But they charged me a late payment and also a returned check fee, but never returned my money to me i began to fall behind on my payments. In their paperwork they state that unless you have full payment any other amount will not go toward the bill.Even their own statements do not match the form they sent me for my taxes. Then they sold the contract to the company i currently have. Whom i have also tried to get a loan mod. with to no avail. This new servicer is not the greatest either i can never get ahold of their lawyer nor do i get a return call. At the b.k. court they falsified numbers they charged me interest on XXXX stating that was my payment the entire duration of my loan. That payment was only that high for a few months it was even for a while at XXXX. Then when i tried to get a loan modification this last time, they mailed to me my denial letter that i received on the XX/XX/XXXX Then on monday the XX/XX/XXXX, mail come 's to my house around XXXX a welcome packet from XXXX stating that they need a few more papers from me but that everything has to be submitted by XX/XX/XXXX. So how can that work they are already closed and the day i received the mail that shows the date mailed as the XX/XX/XXXX i have to have everything turned in or else my home go 's up for sale.
Company Response: Closed with explanation

Timely Response

2019-07-22

Garrett Park, MD

Trouble during payment process

Mortgage: VA mortgage

Complaint: PennyMac purchased my loan from XXXX in early 2019. PennyMac failed to pay my home insurance by the due date despite the fact that it collects escrow each month to cover the expense. My policy has now lapsed due to PennyMac 's negligence.
Company Response: Closed with explanation

Timely Response