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 8
2019-05-20
Blackbird, DE
Trouble during payment process
Mortgage: Other type of mortgage
Complaint: It is my understanding that during the process of working with your mortgage company to find an equitable solution to making monthly payments, my account should be on " inactive status '' and/or do not report missed payments. XX/XX/XXXX, XX/XX/XXXX through XX/XX/XXXX the mortgage company XXXX reported missed payments. From XX/XX/XXXX through XX/XX/XXXX I was working with the mortgage company to find and equitable solution to assist in making my monthly payments. I was initially approved for forbearance program until they deemed me ineligible. I attempted several times to have my loan refinanced and/or modified but was unsuccessful. I was placed in foreclosure proceedings and attempted to have a HUD approved nonprofit organization ( The XXXX XXXX ) find solutions to keep me from foreclosure. During the foreclosure mediation, the mortgage company 's attorney, XXXX XXXX representative and I reached an agreement to have the outstanding balance paid by a HUD approved program. This never occurred because of non communication between mortgage company attorney and HUD XXXX XXXX. Because of this lack of communication, the mortgage continued to go unpaid and accrue more late fees and attorneys fees. I was eventually approved for a loan modification in XXXX of XXXX, the total ( {$26000.00} ) amount of missed principal, interest, late fees and attorneys fees were added to the back end of the mortgage, interest rate increased, terms extended back to 30 years which increased my monthly payment by {$240.00}.
As a result of this entire experience my credit scores have been severely impacted coupled with the unnecessary stress during major life threatening medical treatments.
Company Response: Closed with explanation
2019-05-20
FL
Trouble during payment process
Mortgage: VA mortgage
Complaint: On XX/XX/2019, I sent a PRINCIPAL ONLY payment to my lender of {$500.00}. ( The payment literally said PRINCIPAL PAYMENT. ) They only applied {$410.00} towards my principal.
On XX/XX/XXXX, they issued a check for an over payment of escrow of {$330.00}.
On XX/XX/XXXX, they applied {$19.00} to my principal.
Why was my entire {$500.00} NOT applied to my principal as directed? This company did NOT have my authorization to do anything else with these funds.
Company Response: Closed with explanation
2019-05-18
Vienna, NC
Trouble during payment process
Mortgage: FHA mortgage
Company Response: Closed with explanation
2019-05-17
IL
Trouble during payment process
Mortgage: VA mortgage
Complaint: I received a letter dated XX/XX/2019 that stated that there was an escrow shortage and that I needed to pay a shortage amount of {$2300.00} or my monthly payment would be raised to {$5600.00}. I immediately send a check for {$2500.00} with escrow written on the check along with the escrow coupon stating {$2500.00} deposit and made copies. I then logged into the mortgage account online to routinely check the status of my mortgage account and noticed that although I had paid the {$2500.00} to escrow my account had not been credited even though the check was cashed on XX/XX/2019. I called into the bank on XX/XX/2019 at approximately XXXX to question why my escrow payment was not credited and they made up a story about how it must have been an " oversight '' and that they would " try '' to fix it immediately. I was then told that it was escalated and that they would call me once it was fixed. PennyMac has defrauded me and are trying to raise my mortgage payment even though I quickly paid the escrow shortage. Who knows how many other people they have done this to in order to manipulate payments and cause financial harm to consumers.
Company Response: Closed with explanation
2019-05-14
NJ
Trouble during payment process
Mortgage: FHA mortgage
Complaint: My loan servicer PennyMac hired a company to check on my property. That company broke into my property on several occasions and took all of my personal property. I filed a police report. To date I am paying my mortgage and am unable to live in the house because I have nothing.
This happened on or about XX/XX/2018 to XX/XX/2018 while I was out of state. I filed a police report.
No one wants to accept responsibility. My loan has now been transferred to XXXX XXXX services.
Company Response: Closed with explanation
2019-05-14
Hayward, CA
Struggling to pay mortgage
Mortgage: Conventional home mortgage
Company Response: Closed with explanation
2019-05-10
Las Vegas, NV
Written notification about debt
Debt collection: Mortgage debt
Didn't receive enough information to verify debt
Company Response: Closed with explanation
2019-05-10
CT
Struggling to pay mortgage
Mortgage: Conventional home mortgage
Complaint: I have been trying to postpone my sale date with PennyMac. First I was told my file was complete, then I was told it wasn't. Every time I tried to fax them something, it would take hours for the fax to go through, and I finally had to get their foreclosing attorney 's help in getting the package to them. I have complied with everything, but they continue to move the goal post, and I can not afford to reinstate. My hardship was that my fiance` and I parted ways, causing a disruption in my finances, a loss of income. I made the necessary adjustments in my life before I applied for the loan modification, as I am not confident I can support the mortgage on my own. One representative will tell me one thing, another representative will tell me another. I am in a panic. I have sent them a complete file. I obtained a Quitclaim Deed, then they wanted proof of hardship. I said the fact that he's not longer in the home and the Deed should be evidence of my loss of income. I was then told to send a bill that was in his name, that had to be switched to my name thereafter. I did so, and was told that wasn't enough. Please help! I am desperate!
Company Response: Closed with non-monetary relief
2019-05-08
Santa Ysabel, CA
Applying for a mortgage or refinancing an existing mortgage
Mortgage: Conventional home mortgage
Complaint: In XX/XX/XXXX of this year, I contacted PennyMac about the possibility of paying down the principal on my mortgage, and also to refinance. The reason for this is because my now-husband and I were getting married, and because we planned to pay at least $ 200K toward the principal, I asked them to add my husband to the loan and refinance the current mortgage. On XX/XX/XXXX, we put the process on hold, but re-started the refi process with PennyMac on XX/XX/XXXX. During that time, the refinance department emailed and called me constantly with updates and requests for documents, including documents that had already been sent previously. Ultimately, we ended up not refinancing with PennyMac as their customer service left a lot to be desired, and because XXXX XXXX was able to offer a far better interest rate and term on refinancing our mortgage with just my husband on the loan. Here 's where the real problems began : on XX/XX/XXXX, a creditor with XXXX XXXX called to advise that my husand had never been added to my PennyMac loan. This in spite of the fact that my very first request to PennyMac was to add my husband to the loan. The XXXX XXXX rep had conferenced in a rep named XXXX in the PennyMac customer service department, at which point we asked exactly what information we needed to provide in order to add my husband to the loan. He told me that they needed a note with my signaure AND my husband 's with the loan number and verbiage stating that I was requesting that he be added. I sent this on Monday, XX/XX/XXXX, by fax and also uploaded a copy to their online portal. I called on Wednesday, XX/XX/XXXX, to see if they received my letter and to confirm everything was in order. I spoke with XXXX ( XXXX? ), she told me that the letter was insufficient because my signature did not match my " legal signature ''. At this point I was transferred to a supervisor, I believe her name was XXXX ( not 100 % sure ), that not only did I have to provide the note with a legal signature, I also had to send a copy of my husband 's Social Security card and drivers license and a copy of my homeowners insurance policy with my husband on the policy. In addition, I also needed to update the title on the house to have my husband added. I told the supervisor and wrote on my letter to please call or email me to confirm receipt or if there were any questions. I sent the SSN/DL along with the proof of insurance on XX/XX/XXXX through the online portal, and sent the updated title on XX/XX/XXXX. On XX/XX/XXXX, I received a letter in the US mail, stating that they were unable to process my request, for the following reasons : they couldn't read the number on my husband 's social security card, my homeowners policy did not have PennyMac listed as the mortgage holder, as well as the updated deed. Oh, they also wrote that there was a {$100.00} processing fee that needed to be paid. AT NO TIME IN THE 3 MONTHS WE WERE WORKING ON THIS DID THEY SAY THERE WAS A PROCESSING FEE. We are trying to provide them with what is requested but the problem is that they keep changing/adding new items that we need to submit. At this point it is jeopardizing our being able to refinance our home through XXXX XXXX. Please know, I don't have an issue with requiring the documentation requested but I was never given complete information about the requirements ; in fact, I'm beginning to wonder if they are just looking for more roadblocks to throw up to keep us from refinancing with another company. The supervisor I spoke with on XX/XX/XXXX send I was sent an email about this, but I never received an email about adding my husband, all I received were document requests for the refi. This is the absolute worst customer service I've received in my life : I was never given the complete information from the start, and then only received piece-meal details from PennyMac as to what they needed to add my husband.
Company Response: Closed with monetary relief
2019-05-07
New Bedford, MA
Trouble during payment process
Mortgage: FHA mortgage
Complaint: pennymac charging higher escrow portion than they ate entitled to, pennymac who receives a copy of my bill states my property taxes are XXXX .they afre not they are XXXX per year .spoke with XXXX but because she was having trouble answering question and copped and attitude conversation quickly deteriarated.considering penny ac has XXXX XXXX already twice borrower or borrower reps entitled to full explanation until borrower understands, under plausible questioning thiis XXXX was not equiped to answer why what would escrow shortage figure have been if base on correct property tax figure pmi wen t down homeowners only increased 20.EXTREMELY DISSAPOINTED
Company Response: Closed with explanation
2019-05-06
Skipperville, AL
Struggling to pay mortgage
Mortgage: VA mortgage
Complaint: Pennymac set up repayment plan payments to start XX/XX/2019
XX/XX/2019 I paid XXXX XX/XX/2019 I paid XXXX, received by pennymac by overnight mail on XX/XX/XXXX, did not post until XX/XX/XXXX. XX/XX/2019 I paid XXXX sent overnight, pennymac claims check not received as of XX/XX/2019, not posted.
This is second time pennymac not posting payments as of date received. All payments are made by cashier checks from bank, I have copies. Got letter from them I defaulted because missed payment when in fact payment was sent.
Company Response: Closed with explanation
2019-05-06
Bremen, GA
Trouble during payment process
Mortgage: Conventional home mortgage
Complaint: We have water damage to our home and the insurance company made the check payable to Pennymac and the flooring company. After several months the mortgage company is still refusing to endorse the check over to the flooring company. We ( myself and the flooring company ) have done everything the mortgage company has asked. The mortgage company keeps saying one thing and then changing things the next time you call. they even told the flooring company that they called me and I cancelled an inspection of my house and that is why they could not endorse the check. NO ONE from the mortgage company has EVER called me. This is so frustrating and I have spent way to much time dealing with this company.
Company Response: Closed with explanation
2019-05-05
OR
Trouble during payment process
Mortgage: Conventional home mortgage
Complaint: We received a letter stating that we had requested to close the escrow account and now we will be charged an additional fee to reopen it as we are required to have it? We did not request Escrow to be closed and if we did erroneously make such an error while accessing our account online, then why wasn't I notified immediately via email or more appropriately we should have been notified at that moment that doing so would create added fees as we are required to have the account. I have reviewed all my email messages including spam and promotions and there has been no message that I elected to close escrow on the date I was on the account as stated in the letter. There are also no notices or confirmations of this action in the message center of our account online. My husband received a letter post marked XX/XX/XXXX letter that he was not able to open until after banking hours on XX/XX/XXXX and also on a weekend had a required response date of XX/XX/2019 before escrow would be closed automatically on XX/XX/XXXX which is a Monday allowing us absolutely no time for resolution before action will be taken. It is not appropriate to make such demands or send such letters with less than 10 business days to respond without email notification, or a message in the message center. In addition, I have made several attempts to notify them via the messaging center online, however when I click submit the message does not submit and does not show up that I sent a message after several attempts. As mentioned it is a weekend and the letter was opened Friday evening after hours, we can not stop the closure of Escrow with added fees to reopen as we are told it will occur Monday XX/XX/XXXX.
Company Response: Closed with explanation
2019-05-02
Las Vegas, NV
Attempts to collect debt not owed
Debt collection: Mortgage debt
Debt was result of identity theft
Complaint: On multiple occasions i have asked PennyMac and XXXX XXXX to provide me an original contract agreement whereas they are the Lender Servicer and i am the borrower. They have failed to do so for the past XXXX months. XX/XX/XXXX, i asked for a copy of the check from where the payment was coming from, the notary said he had no idea of this information and went and got the secretary. The secretary said that she would look into it. She came back XXXX minutes later and said that she couldn't verify that information at the time but would email me that information so i gave her my email, she never responded. The documents presented by PennyMac and XXXX XXXX are altered and modified Deed Of Trsut and Mortgage documents. They have recreated the original loan and made a new loan with a new loan number [ XXXX ]. This original loan [ No. XXXX ] was with XXXX XXXX XXXX and was paid by way of my XXXX XXXX account. Thus is a change in title, and a new title was recorded without me being present on XX/XX/XXXX. The loan number changed as of XX/XX/XXXX. This is why they recreated loan documents well after XX/XX/XXXX, again after XX/XX/XXXX. The Note was altered and has a stamp over the original date in the left top corner. I have shown proof of my wire funds and the tender of payment but they have failed to do so over the past XXXX months. Neither PennyMac nor XXXX XXXX appeared before XX/XX/XXXX.
XXXX of funds between escrow accounts. ( XXXX XXXX ) 1.A transfer of funds between escrow accounts may not be accomplished by the making of book entries alone but must be accomplished by : ( a ) The wire transfer or writing of a check from XXXX escrow account to the other ; and ( b ) The deposit of a check or wire transfer or other form of authorized transfer that is acceptable to the depository institution for the account of, and the writing or electronic generation of a receipt for, the escrow account to which the funds are being transferred.
2.A transfer between escrow accounts must be properly supported and documented in the escrow records including, without limitation, the reasons for and the appropriate approval of the transfer. ( Added to XXXX by XXXX XXXX XXXX XXXX by XXXX, eff. XXXX ) As stated by XXXX of the Credit Bureaus on XX/XX/XXXX and i quote " According to our system, on several occasions in XXXX and XXXX, an investigation was initiated into the XXXX XXXX XXXX # XXXX account per your requests. In response to the investigations, the disputed information was verified or updated accordingly and the results were forwarded to you for review. Please note that we have reviewed your credit file and determined that all investigations were performed in accordance with all applicable laws, policies, and procedures, and the results were sent to you in a timely manner. We store information in our records as it is supplied to us by creditors. What information has PennyMac or XXXX XXXX reported as creditors. According to XXXX XXXX XXXX XXXX the Transfer of funds between between escrow accounts may not be accomplished by the making of a book entry alone but by wire transfer or writing of a check from XXXX escrow account to the other when i XXXX XXXX XXXX demanded a copy of the check and proof of funds the Title escrow company stated that they did not have a check nor a wiring account information that day of the alleged transaction stated by the secretary and i wont mention her name. Rather XXXX states what i have been demanding since day one, i was making sure the funds didn't come out of my infant trust account.
Now according to XXXX XXXX XXXX XXXX XXXX : Effective XX/XX/XXXX, the State Of Nevada enacted good Funds legislation [ NRS 645A ]. The law states that for escrow to close, the buyers closing funds must clear the bank. In order to comply with the new law and close your transaction timley, XXXX XXXX XXXX would prefer all closing funds be tendered TENDERED our office by interbank electronic wire transfer. Please contact our XXXX if you have questions regarding this change in our industry.
This includes coupons or Checks from a government agency or municipality, as stated by PennyMac they don't accept Coupons or checks from government agencies when this is false. They do and they must by Federal Law State Law and the Law of 1933 ACT.
As stated by PennyMac in their earlier writings i attempted to settle the alleged debt with a XXXX XXXX but PennyMac lied and said they couldn't accept the XXXX XXXX but according to NRS Law they do. XXXX XXXX : Requirements for deductible. ( XXXX XXXX XXXX ) A XXXX XXXX required by XXXX XXXX XXXX contain a deductible if the escrow agency deposits with the Commissioner a XXXX XXXX or substitute form of security satisfactory to the Commissioner in the amount of the deductible. ( Added to XXXX by XXXX XXXX XXXX XXXX by XXXX, eff. XXXX ) This is fraud and false. It seems as if the credit bureaus are more in favor of the alleged creditor rather than the consumer so i have prepared this complaint in full.
On XX/XX/XXXX i asked the persons of the XXXX XXXX to provide me with a copy of the check whereas the funding for the purchase of my home was to come from. They failed to respond. On XX/XX/XXXX i followed up with an email thereto XXXX for the title company. She failed to respond. On XX/XX/XXXX i responded to their none response as to where the funding came from in a formal and legal letter. Made public record on XX/XX/XXXX. Whereas at this time the debt was disputed for no one could answer where the debt came from who owned the debt and how the debt was funded. Therefore the debt is disputed in full by law.
XX/XX/XXXX made public, i served all parties claiming to be the creditors which are many listed as XXXX XXXX XXXX, XXXX XXXX, XXXX XXXX XXXX including PennyMac and XXXX XXXX. None of the parties responded thereto the Certificate of Administrative Judgement. In fact none of the alleged verification or validation has any notary nor in a Affidavit format. The Nevada Homeowner Bill of Rights ( NHBR ) is a law that protects Nevada homeowners from illegal foreclosure practices. ... The NHBR also requires that the mortgage holder give certain documents to the homeowner, bans dual tracking, and compels the lender to have a contact person that the homeowner can speak with. Neither a Notice of XXXX nor a Judicial Foreclosure shall be initiated unless and until the mortgage servicer shows, through documented proof, that it holds the beneficial interest and has the legal standing to foreclose on the property. PannyMac and Fannie Mae failed to provide the a. proof of funds wire or check b. Lender information for both claim to be the lender on XXXX different letter heads c. Neither has shown that it holds the beneficial interest and has the legal standing to foreclose on the property.
d. Neither can prove that XXXX XXXX is not the party in interest Aka the lender and that the funds came from her Trust or infant trust account.
e. The note clearly says the original lender was XXXX XXXX XXXX so how did PennyMac acquire a loan from XXXX XXXX and sale it to XXXX XXXX? this has never been answered at all.
Rather i XXXX XXXX have not herd from PennyMac nor XXXX XXXX and have mailed documents showing the identity theft by way of a newly created loan with a new loan number which was created on XX/XX/XXXX which is XXXX XXXX days later. They will have to due a Judicial foreclosure due to the fraud reported to the local police and the FTC. Now on the CFPB site i am requesting arbitration and if such does not take place ill file in court venues until this is satisfied to my liking. Pennymac is simply attempting to extort a XXXX year old XXXX XXXX XXXX whom has given them opportunities and due process for the past XXXX months.
Company Response: Closed with explanation
2019-05-02
Matteson, IL
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
2019-04-30
Cleveland, OH
Struggling to pay mortgage
Mortgage: FHA mortgage
Company Response: Closed with explanation
2019-04-30
San Jose, CA
Trouble during payment process
Mortgage: Conventional home mortgage
Company Response: Closed with monetary relief
2019-04-26
Concord, MI
Trouble during payment process
Mortgage: VA mortgage
Company Response: Closed with explanation
2019-04-26
Trouble during payment process
Mortgage: Conventional home mortgage
Company Response: Closed with explanation
2019-04-24
Santa Ysabel, CA
Struggling to pay mortgage
Mortgage: Conventional home mortgage
Complaint: we have tried to work with Pennymac since 2013, upon my father in laws death. Pennymac has refused to assist us in this matter and had my husband sign what I believe to be a predatory loan modification and lied about origination dates. We asked that the loan be moved into my husbands name originally and they stated that that could not do that even though probate had closed. I am perplexed as to why they are able to operate like this my husband has been asked to complete several forms and also has to have them all notarized for them to speak with me yet they never seem to have the form available to be viewed or request another one.. My husband is permanently XXXX and we are trying to keep this him. this all stated with a predatory loan for a construction project that has yet to be completed and the company attached the entire bill to our property taxes. I have tried to resolve this many ways and its just wont work I am in need of assistance to resolve this matter, thank you
Company Response: Closed with explanation
2019-04-24
Bel Alton, MD
Trouble during payment process
Mortgage: Other type of mortgage
Complaint: Issue : There are Contingency Funds, which were financed in my XXXX Loan. These Funds were supposed to made available to me. My loan was sold to a servicer. I inquired to the Loan Servicer about these Contingency Funds. And what the process was to use the remaining funds. I was told that I had to have my contractor submit an invoice for the work to be completed. I was never given any additional information on dates or restrictions. After the final draw was sent. I inquired again and then was told that I would not receive the Contingency Funds. As my loan was closed and the money was applied to the principal balance. When reviewing the document I signed. It states that there is a HUD form to be completed. Requesting the Contingency Funds. Any remaining Contingency Funds would be applied to the principal balance. I was 'never ' allotted an opportunity to use these funds. Nor was I advised of the required HUD document when I inquired about the process. I was provided inaccurate information.
Company Response: Closed with explanation
2019-04-23
Galena, OH
Trouble during payment process
Mortgage: FHA mortgage
Complaint: My acct was past due. I tried to pay online but pennymac disables that option when I fell behind. I took money out of my 401k and called for the amount to bring current and was told they couldnt tell me and wouldnt accept payment. I then sent almost {$10000.00} from my bank directly by the due date on the most recent statemebt I had and they applied it but added what they refer to as other fees. The next month the bill had the {$1500.00} payment and almost a thousand dollars in fees. I paid that and 2 days later more other fees were added. I was told this was due to forclosure but I was never in forclosure. They said they were attorney fees but refused to send me statement showing that or to even confirm that these fees would stop now.
Company Response: Closed with explanation
2019-04-23
Trouble during payment process
Mortgage: VA mortgage
Complaint: When XXXX XXXX sold my mortgage to Penny Mack, my mail was not forwarded to my correct XXXX address. Automatic payment and contact details were not correctly input by Penny Mack. As a result I had no knowledge that Penny Mack was my new mortgage company and my first 4 monthly payments were not taken. As a result my credit rating is severely damaged and my ability to utilize the VA IRRRL program is lost.
Penny Mack complaint numbers : XXXX & XXXX Please help, XXXX XXXX XXXX XXXX XXXX
Company Response: Closed with non-monetary relief
2019-04-23
Myrtle Beach, SC
Struggling to pay mortgage
Mortgage: Conventional home mortgage
Company Response: Closed with explanation
2019-04-21
FL
Trouble during payment process
Mortgage: VA mortgage
Complaint: On XX/XX/XXXX I contacted the mortgage company, Pennymac, because they claimed I was in default on my mortgage. I have never missed a payment and pay on time. I explained that their analysis of our escrow account was wrong and we were being overcharged. The woman who answered the phone told me I didnt have a choice how much I paid every month. I told her that their analysis was wrong and what it should be. Furthermore, the money in our escrow account is technically ours! She continued to harp that I was not making a full payment and said we would be referred to collections. I told her that I paid my mortgage on time every month and asked her if I needed to get an attorney because they were not applying my payment. I do not appreciate being threatened with collections and ruining my good credit because of their incompetence.
A survey came on that I responded to after that woman hung up. After answering that I was not happy, another lady came on the phone. It turns out this company added a TWO month cushion to my escrow account, creating an underage on our account that was then added to our monthly payment! This amounts to over {$1000.00}! {$1000.00} that I am not being paid interest on! The second representative corrected the escrow payment amount and was very nice.
This is not the first time this company has threatened me with collections because they cant calculate an escrow payment correctly and I am tired of being bullied! I firmly believe this company needs to be investigated for unfair business practices.
Company Response: Closed with explanation