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 9
2019-04-19
Anaheim, CA
Struggling to pay mortgage
Mortgage: FHA mortgage
Company Response: Closed with explanation
2019-04-18
WI
Trouble during payment process
Mortgage: VA mortgage
Complaint: My mortgage was sold to penny max and they raise the interest rate up over what I closed at. I was at around 4.5 and now Im close to 6 percent. This makes a big difference on the payment and over all loan amount. Can you help me with this. XXXX XXXX
Company Response: Closed with explanation
2019-04-18
New Bedford, MA
Trouble during payment process
Mortgage: FHA mortgage
Complaint: BORROWER RECEIVED ESCROW ANALYSIS WHICH GAVE BORROWER 2 OPTIONS /BORROWER CHOSE OPTION BE AND SENT IN ELECTRONIC PAYMENT THAT WAS RECEIVED BY PENNY MAC OF XXXX BELOW IS THE ACTUAL POSTING FROM PENNY MAC WEBSITE XX/XX/2019 Payment {$620.00} {$0.00} {$0.00} {$1600.00} {$240000.00} THE BORROWER BY CHOOSING OPTION B WAS INFORMED THAT THE XXXX PAYMENT WOULD INCREASE TO XXXX EST WE NOTIFIED PENNY MAC THAT PAYMENT WOULD BE FORTHCOMING AND EVEN RECEIVED AND EMAIL BACK CONFIRMING PAYMENT RECEIVED.NOW PENNYMAC WANTS TO INCREASE THE PAYMENT IN VIOLATION TO XXXX!!!! THIS IS NOT CORRECT AND DEMAND IS MADE .NOT ONLY DID PENNYMAC TAKE THE ESCROW SHORTGAGE MONEY THEY ARE TRYING TO INCREASE PAYMENT TO XXXX WHICH IS ONLINE WITH OPTION A WHICH BORROWER CLEARLY DID NOT TAKE. PAYMENT SHOULD BE XXXX!!
also the second complaint is that we prefer a paperstatement now their institing a fee if you male apyment between the XXXX and XXXX of every month if you pay online if ypour not enrolled in paperless billing.we were told by XXXX XXXX XXXX the loan originator that there will never be a fee for papestatement sand or any type of fee or penalty there of. borrowers dont have ready access to a computer, to add insult to injury penny mac has rhe gaul to do this and increase are payment unlawfully.the knickel and diming of americas middle/working class continues
Company Response: Closed with explanation
2019-04-18
Simi Valley, CA
Trouble during payment process
Mortgage: FHA mortgage
Complaint: My lender penny mac failed to pay insurance from my inpound account .the insurance was then canceld .they told me they sent letters i do not recall seeing any or i would have responed .the lender placed there own insurance .califorina civil code 2954.1 states they have to pay insurance and taxes on time .the lender is now saying the inpound account is over drown by XXXX and i need to pay it back ... please any help would be great.
Company Response: Closed with monetary relief
2019-04-17
Fort Worth, TX
Trouble during payment process
Mortgage: FHA mortgage
Complaint: On XX/XX/XXXX PennyMac assumed possession of my loan from our prior servicer. We had a large loss draft pending on the property and PennyMac has created an undue hardship on us due to their lack of transparency and unwillingness to help. Ever since they assumed possession of our loan, they have continued to claim that they do not have certain documents that they should have easily been provided by the prior servicer. It is not our responsibility to secure these documents for them as we did not choose to have a new servicer take over a loan with a large loss draft pending.
I have called every 2 days since XX/XX/XXXX asking why I can not receive the final disbursement to settle this loss draft claim ( btw our house was completely lost in a house fire on XX/XX/XXXX ). Finally today, this company once again said they needed additional documents and I am baffled as to why they continue to play these games with the money sitting in our escrow account that is now past due to the homebuilder.
Company Response: Closed with monetary relief
2019-04-17
Alhambra, CA
Trouble during payment process
Mortgage: Conventional home mortgage
Complaint: Throughout XX/XX/XXXX I received three supplemental tax bills from XXXX XXXX County. Shorlty after I received these bills I called to provide the information associated with the bill in order to make sure it would get paid. This was on XX/XX/XXXX. When calling the associate took down the specific tax information and assured me that PennyMac will take care of the payments through my escrow account.
On XX/XX/XXXX I received written correspondence from XXXX XXXX County indicating that the payments were not made and that penalties have been assessed. On XX/XX/XXXX, I notified PennyMac about the problem and sent them copies of the notices.
On XX/XX/XXXX PennyMac responded to my concerns by stating they are not responsible for supplemental bills nor would they pay the penalty unless I notified them. I responded by stating that I did notify them per my original complaint to them and that they should take action immediately along with covering the penalty costs.
On XX/XX/XXXX I received a message from PennyMac saying they would take care of the payments. They said I should wait 14 business days before checking. It is now beyond 14 business days and they still have not taken action. One of my bills has a due date of XX/XX/XXXX. which is now past. As such, additional penalties have now been assessed.
Company Response: Closed with monetary relief
2019-04-15
Problem with a credit reporting company's investigation into an existing problem
Credit reporting, credit repair services, or other personal consumer reports: Credit reporting
Their investigation did not fix an error on your report
Company Response: Closed with explanation
2019-04-12
Visalia, CA
Struggling to pay mortgage
Mortgage: FHA mortgage
Company Response: Closed with explanation
2019-04-12
New Salem Bro, PA
Struggling to pay mortgage
Mortgage: Other type of mortgage
Company Response: Closed with explanation
2019-04-10
Las Vegas, NV
Trouble during payment process
Mortgage: Other type of mortgage
Complaint: This must be answered by CEO XXXX XXXX XXXX as requested in all the documents presented herein to the CFPB and PennyMac and the CEO of FannieMae not the research department. Please note that this is not a Unilateral nor a A bilateral contract agreement Note none of the parities signed this document, not XXXX XXXX XXXX for what is written in cursive says " WITHOUT CONSENT '' and this was told to the notary during such signing. PennyMac is not on the contract only XXXX XXXX XXXX nor is anyone from Fannie Mae government agency. i XXXX XXXX XXXX asked for the wet signature so that i could show them my original signature printed name, under neath is in cursive WITHOUT CONSENT that which is on the Tender of payment that they declined!
3-603. TENDER OF PAYMENT. ( a ) If tender of payment of an obligation to pay an instrument is made to a person entitled to enforce the instrument, the effect of tender is governed by principles of law applicable to tender of payment under a simple contract. ( b ) If tender of payment of an obligation to pay an instrument is made to a person entitled to enforce the instrument and the tender is refused, there is discharge, to the extent of the amount of the tender. This is in full explanation. I have tendered a payment thereto XXXX XXXX. and they have declined the payment in Three letters as its presented by them to the CFPB. Therefore its discharged. The threats have began as to i owe the a certain currency or payment style which is not explained or disclosed. They XXXX XXXX also said that due to a certain style of a Deed of Trust or NOTE, ill repeat they said NOTE. Well Please note ; In the United States, a mortgage note ( also known as a real estate lien NOTE borrower 's note ) is a promissory note secured by a specified mortgage loan. Mortgage notes are a written promise to repay a specified sum of money plus interest at a specified rate and length of time to fulfill the promise. It's the promissory note that contains the promise to repay the amount borrowed. ( Learn more about promissory notes. ) While a promissory note is basically an IOU that contains the promise to repay the loan, the mortgage or deed of trust is the document that pledges the property as security for the loan. The tender of payment covers all of the above ... " Under thenew law government obligations, bills of exchange, drafts, notes, trade acceptances, and bankers acceptances, because it is backed by the credit of the nation.It will represent a mortgage on all the homes, and other property of all the people of the nation. '' Senate Document No. 43, 73rd Congress, 1st Session, Congressional Record, XX/XX/XXXX on HR 1491 p. 83. So by PennyMac Corp declining the Tender of Payment it is subject for Discharge, and thus it is considered to be at this point in time on record and public record DISCHARGED! No offense to your Position in the Research Apartment but i summonsed the CEO of PennyMac not XXXX XXXX from the same department whom XXXX went on to state that she has never seen this supported in any court or by any law, well this is a lie, we are currently under a state of emergency under the current leaders, and in XXXX President Franklin D. Roosevelt signed the Securities Act of 1933 into law as part of his famous New Deal. The actalso known as the " Truth in Securities '' law, the 1933 Act, and the Federal Securities Actrequires that investors receive financial information from securities being offered for public sale.Over the years, the limit has been raised which reached up to its current limit of {$250000.00}. The 1933 Banking Act required all FDIC-insured banks to be, or to apply to become, members of the Federal Reserve System by XX/XX/XXXX. The Banking Act of 1935 extended that deadline to XX/XX/XXXX. The Glass-Steagall Act, also known as the Banking Act of 1933 ( 48 Stat. 162 ), was passed by Congress in XX/XX/XXXX and prohibits commercial banks from engaging in the investment business. It was enacted as an emergency response to the failure of nearly 5,000 banks during the Great Depression. The Federal Deposit Insurance Corporation ( FDIC ) preserves and promotes public confidence in the U.S. financial system by insuring deposits in banks and thrift institutions for at least {$250000.00} ; by identifying, monitoring and addressing risks to the deposit insurance funds ; and by limiting the effect on the economy like today In practice nothing is unconstitutional in a national crisis. In XX/XX/XXXX, thousands of banks were failing in many states. ... The Emergency Banking Act was proposed and passed on XX/XX/XXXX, in a state of confusion and chaos. Yet this goes on today. So what XXXX and PennyMac is demanding is indentured servitude, to claim that PennyMac knows nothing of this law must come from the CEO XXXX XXXX XXXX whom knows this to be law and fact. If you notice the documents require the attention of the CEO XXXX XXXX XXXX and the CEO of XXXX whom understand these laws and knows of the back office where payments of Tender are made please see attachment for example. Conditional Payment and Tender Of Payment are the same and are accepted by National State Banks and Government agencies such as XXXX XXXX.
Company Response: Closed with explanation
2019-04-05
Bermuda Dunes, CA
Trouble during payment process
Mortgage: Conventional home mortgage
Company Response: Closed with explanation
2019-04-05
Las Vegas, NV
Communication tactics
Debt collection: I do not know
Used obscene, profane, or other abusive language
Complaint: I received the notice on the CFPB website that PennyMac and Company still working STATUS Company response is in progress as of XX/XX/2019 The company has responded that it is still working on your issue In some cases, companies need more time to respond. You should receive a final response within 60 days from the date we sent your complaint to the company. COMPANY 'S INTERIM RESPONSE PennyMac is actively researching the concerns raised by Ms. XXXX XXXX ; however, additional time is needed to determine the resolution. Ms. XXXX XXXX is currently researching the request, and will provide a resolution within the allocated time. Please be advised the name the woman property owner goes by is XXXX XXXX XXXX not Ms. XXXX please that is non-descriptive and could be confusing to whom is being addressed the woman or the entity? i am named XXXX XXXX XXXX.
I have been contacted by phone as a threat to be in collections more over they are calling my husbands/partner phone and are being rude and mean. Very unnecessary and unwarranted at this time. If you are doing the research for the Tender Of payment i am allowing you time to do so before filings for arbitration is filed due to the threats made by PennyMac. But please cease and desist all calls and contact your CEO office aka Back Office for further incite on the Tender of Payment.
Come now and notice that I the home owner! have not received a letter [ s ] from the CEO or Controllers from the Back Office of PennyMac Corp, or CEO or Controllers of XXXX XXXX agency concerning the decline of the Tender of Payment Offer. Please provide in writing your legal and or lawful reason [ s ] for not accepting the government obligations, bills of exchange, drafts, notes, trade acceptances, and bankers acceptances, because it is backed by the credit of the nation. A letter from the Research Department is not the proper channel for this type of payment because they do not know what the Tender Of Payment is!
A copy of the Tendered payment was mailed to the US Treasury and received for you to retrieve payment! Please note ; In the United States, a mortgage note ( also known as a real estate lien note, borrower 's note ) is a promissory note secured by a specified mortgage loan. Mortgage notes are a written promise to repay a specified sum of money plus interest at a specified rate and length of time to fulfill the promise. It's the promissory note that contains the promise to repay the amount borrowed. ( Learn more about promissory notes. ) While a promissory note is basically an IOU that contains the promise to repay the loan, the mortgage or deed of trust is the document that pledges the property as security for the loan. As i explained 3-603. TENDER OF PAYMENT. ( a ) If tender of payment of an obligation to pay an instrument is made to a person entitl
ed to enforce the instrument, the effect of tender is governed by principles of law applicable to tender of payment under a simple contract. ( b ) If tender of payment of an obligation to pay an instrument is made to a person entitled to enforce the instrument and the tender is refused, there is discharge, to the extent of the amount of the tender, of the obligation of an endorser or accommodation party having a right of recourse with respect to the obligation to which the tender relates. ( c ) If tender of payment of an amount due on an instrument is made to a person entitled to enforce the instrument, the obligation of the obligor to pay interest after the due date on the amount tendered is discharged.
Company Response: Closed with explanation
2019-04-05
Seneca, SC
Trouble during payment process
Mortgage: Conventional home mortgage
Complaint: PennyMac received {$470.00} in prepaid interest when they bought my mortgage from XXXX XXXX on XX/XX/XXXX. The loan was almost completely paid off on XX/XX/XXXX. But a recent payoff demand statement does not account for the pre-paid interest collected at closing. Is it possible that PennyMacs system just ignores prepaid interest they receive and customers dont notice it because they usually dont pay their loans off immediately?
please ask PennyMac to explain the payoff calculation. If you think an investigation of their system is in order because this is a general practice, that also would make sense.
here is the history of my loan all of these dates and values are from PennyMacs website : XX/XX/19 new loan, balance {$230000.00}. {$850.00} collected as prepaid interest for XX/XX/XXXX XX/XX/19 loan sold to PennyMac who took a {$470.00} discount for 17 days of interest ( XX/XX/XXXX XX/XX/XXXX ) XX/XX/19 principle pay-down of {$200000.00} XX/XX/19 principle pay-down of {$30000.00}XX/XX/19 regular payment of {$1800.00} of which {$120.00} was interest and {$1600.00} was principal. The remaining {$90.00} went to Escrow.
XX/XX/19 the principal balance is now below {$2500.00} and id like to pay the loan off.
XX/XX/19 Payoff demand letter shows : XXXX {$2400.00} principal balance ( correct ) XXXX ( {$9.00} ) interest due ( wrong! ) XXXX {$13.00} recording fee and release cost so, total interest ive paid is : {$850.00} + {$120.00} = {$970.00}.
with the loan almost completely paid off by XX/XX/XXXX, the total interest due on the mortgage is around {$580.00}. So i would expect an interest credit of around {$390.00}. However, the payoff demand letter shows an interest credit of less than {$10.00}.
i would like PennyMac to explain where the other {$380.00} went or credit that to my account so i can pay off the loan. Numerous attempts to communicate with PennyMac have gone unanswered.
again, if PennyMac routinely accepts prepaid interest without crediting customer accounts, then every PennyMac mortgage customer has lost this money.
Company Response: Closed with explanation
2019-04-03
Canaan Lake, NY
Trouble during payment process
Mortgage: Other type of mortgage
Company Response: Closed with explanation
2019-04-02
Oxford, GA
Trouble during payment process
Mortgage: FHA mortgage
Complaint: This is a new complaint of fraud. Effective XX/XX/2019 my home insurance policy with the Georgia XXXX XXXX lowered my home insurance in the amount of XXXX down from the projected {$770.00}. Because XXXX XXXX sent a check for {$770.00} to Georgia XXXX XXXX my home insurance company Georgia XXXX XXXX refunded a check back to XXXX XXXX my mortgage company instead of refunded the check to me directly because they trusted XXXX XXXX to apply the full refund amount of {$160.00} back to my hazard insurance as XXXX XXXX was legally instructed to have done.I recently received my escrow statements confirming that XXXX XXXX only applied {$71.00} of the {$160.00} that they cashed back to the home insurance portion of my escrow. When I called Georgia XXXX XXXX they sent me proof that XXXX XXXX cashed the full check of $ XXXX.When I called XXXX XXXX they stated that they claim they do not know why only {$71.00} was applied back to my home insurance and the remainder amount to PMI. According to the hundreds of similar complaints reported by other homeowners Nationwide to the XXXX XXXX XXXX XXXX XXXX has been running a fraudulent scam for years taking any extra payments or hazard insurance ( home insurance ) refund checks and only applying a small portion to the actual hazard insurance policy so that they can create a shortage and come back to homeowners literally a year later claiming that the homeowner did not pay enough to escrow.Because they are not within the jurisdiction of the OCC and the Attorney General no longer accepts consumer complaints they are running the perfect criminal fraudalent scam and operation Nationwide with hundreds if not thousands of homeowners ; according to the list of complaints with the XXXX XXXX XXXX. They claim that it was put back into escrow when the instructions were clear the check was a refund to hazard insurance portion of my escrow account the full check is supposed to be applied to hazard insurance not divided to PMI. I have already spoken to the FHA about this.
Company Response: Closed with explanation
2019-04-01
Struggling to pay mortgage
Mortgage: FHA mortgage
Company Response: Closed with explanation
2019-03-29
Fleming, GA
Struggling to pay mortgage
Mortgage: VA mortgage
Company Response: Closed with explanation
2019-03-29
Turners Sta, KY
Applying for a mortgage or refinancing an existing mortgage
Mortgage: Conventional home mortgage
Company Response: Closed with explanation
2019-03-29
Bostonia, CA
Struggling to pay mortgage
Mortgage: Conventional home mortgage
Complaint: PennyMac LN XXXX XXXX XXXX XXXX XXXX XXXX, XXXX XXXX CA XXXX XXXX XXXX XXXX We have had a short sale going on with PennyMac since XX/XX/19. The authorization letters were sent on XX/XX/19 and XX/XX/19. We have spoken to PennyMac multiple times since then via both email and on the phone, and have even received an approval letter for the short sale.
Today we were told by multiple people, even management, that we are not authorized. They refused to speak to us and said we were never authorized.
**HOW is that possible if we received an approval letter and have spoken to PennyMac MULTIPLE times over the last several months??
So. Either PennyMac inappropriately communicated personal financial information to us throughout the entire past few months- including sending an approval letter to us, or they are now lying about our authorization status. Either way, this needs to be resolved immediately.
I want PennyMac fined the maximum of $ XXXX due to their gross incompetence and consistent inconsistency.
Company Response: Closed with explanation
2019-03-28
Discovery Bay, CA
Struggling to pay mortgage
Mortgage: Conventional home mortgage
Complaint: PennyMac is extremely fraudulent and horrible and deliberately employs illegal and fraudulent practices : dualtracking, losing documents, changing contact persons and prolonging modification applications to get foreclosures and auctions. They also have a stupid " within 37 day policy '' to not accept short sale requests or any restorative actions from property owners.
PennyMac denied 3 offers to buy the property so that they could auction the property. We had a buyer who offered {$54000.00} over the payoff amount 1 week before the sale. They were also willing to cure the loan first then have enough time to get a loan for the property. We contacted PennyMac to obtain the loan payoff and amount to cure the arrears, PennyMac 's customer service manager XXXX XXXX said it would take 3-5 days to get this information although we pleaded that the auction date was 4 days away, he deliberately gave us incorrect auction administrator information and stalled the payment to cure the loan.
The property was auctioned on XX/XX/19 but was not purchased so the property went back to the beneficiary ( bank ). PennyMac has caused us physical, emotional distress, and pain and suffering to my family. I am XXXX years old and XXXX. PennyMac received calls from our Congressman 's office as well as CFPB to stop the auction and allow the sale to proceed to which they stated that they could not and they DID NOT.
Company Response: Closed with explanation
2019-03-27
Plymouth, FL
Applying for a mortgage or refinancing an existing mortgage
Mortgage: FHA mortgage
Complaint: Can not refinance due to previous bankruptcy information. Also because of the poor credit score due to this and other factors.
Company Response: Closed with explanation
2019-03-27
Blmgtn, IN
Trouble during payment process
Mortgage: Other type of mortgage
Complaint: My husband and I have had continued problems with paying our house payments with PennyMac. There are always issues with hidden fees and our payment rising and not being explained. Weve attempted to make payments ahead and call to relay that wed be making advance house payments. We recently received a letter stating we were late for the month of XX/XX/XXXX. We printed our payment history and found that PennyMac had taken it upon theirselves to take payments and put them towards principle reduction. Weve also noticed that there are reoccurring charges for property inspection fees. We believe these to be fraudulent charges. Our home insurance is supposed to be taken monthly and appears as a lump sum on our bill. The fact that they chose to apply our house payments towards the principle reduction they were also charging us late fees. We werent late.
Company Response: Closed with monetary relief
2019-03-27
Ft Lauderdale, FL
Trouble during payment process
Mortgage: VA mortgage
Complaint: I recently received an insurance claim settlement from XXXX Hurricane Irma. During the long 18 months of claim denial from XXXX XXXX XXXX XXXX XXXX XXXX, I was tasked with replacing my entire roof total cost {$44000.00}. The roof damage was destroying the cedar ceiling thus creating additional problems that were not covered in my original hurricane claim. A s a last result, the roof had to be replaced at my expense and I was forces to sue the homeowner 's insurance. The full roof was replaced in XX/XX/XXXX by a licensed roofing company, XXXX XXXX roofing. At this time, during XXXX Hurricane Irma and the XXXX roof replacement, PennyMac WAS NOT my mortgage lender. My loan was transferred to PennyMac in XX/XX/XXXX. At the time that PennyMac acquired my VA mortgage there was no outstanding insurance claims, as teh previous XXXX Hurricane Irma was denied. After months of litigation via the XXXX XXXX XXXX and XXXX XXXX XXXX XXXX XXXX, I was granted a settlement in XX/XX/XXXX. The check was payable to myself, PennyMac and the claims adjuster. After endorsement from the claims adjuster on XX/XX/XXXX, I contacted the insurance claim department A PennyMac was given these instructions : please mail the settlement check with a letter of exception to PennyMac insurance claim dept. In the letter of exception please request a endorse and release of the settlement check based on the roof repairs are completed. Include the settlement paperwork from the law firm, all paid receipts, and the roofing company invoice. PennyMac has received ALL required documents, ALL paid receipts, ALL invoices, a FINAL inspection was completed on XX/XX/XXXX and I have yet to receive a phone call with a status on the release of the funds. I continue to call PennyMac insurance claim dept. several times per week and each conversation is with a different representative that NEVER seems to be knowledgeable of their process. Please investigate this company and the way their claims dept. operate. They should not be an approved VA lender. All reviews and/or complaints regarding PennyMac are similar and warrants an investigation.
Company Response: Closed with explanation
2019-03-26
Hayward, CA
Closing on a mortgage
Mortgage: Conventional home mortgage
Complaint: We got a letter in the mail from PennyMac ( XXXX XXXX XXXX XXXX XXXX, CA ), our new mortgage company that our information will be shared with other companies, including their affiliates and non-affiliate, unless we write a letter in opting out, or calling a XXXX number to opt out.
The requirement of having a consumer take an extra step in order to opt out of sharing information is unreasonable. Majority of consumers do not have the time to read every letter that comes in the mail, not to mention the time to write in a letter, put in a mail, or make a phone call ( typically waiting for 20 minutes to just get through with some automated system ). The default should be that no information should be shared unless the consumer writes a letter in providing the consent.
Please investigate this and protect our privacy information, not just about PennyMac but any loan company.
Company Response: Closed with explanation
2019-03-22
Las Vegas, NV
Attempts to collect debt not owed
Debt collection: Mortgage debt
Debt was paid
Complaint: I, XXXX XXXX XXXX Tendered payment in full amount thereto PennyMac OBO XXXX XXXX on XX/XX/XXXX. It was received on XX/XX/XXXX. I spoke to the remittance department and they said they had received it. The agent stated that it was sent to the wrong department but was forwarded to the Remittance Department and ready to submitted for payment. On XX/XX/XXXX I received a letter From PennyMac written by XXXX XXXX Research Dept. She stated in a letter that the Tender of payment is not an acceptable form of payment or an allowable transfer of property. This is false and someone may need to educate XXXX XXXX of said dept. Base upon law " XXXX the new law sovernmcnt oblieations. bills of exchanse. drofts. notes. trade acceptances. and banker acceptances. Because il is backed by the credit the nation- It wiII represent a mortgage on all the homes. and other property of all the people of the nation '' Senate DocumentNo. 43, 73rd Congress, lst Session, Congressional Record, XXXX XXXX on HR 1491 p. 83.
The said notes shall be obligations of the United States and shall be receivable by all national and member banks and Federal reserve banks and for all, and other public dues. They shall be redeemed at the Treasury Deparhnent of the United States, in the city of Washington, District of Columbia, or at any Federal Reserve bank. 12 U.S. Code 411 - Issuance to reserve banks ; nature of obligation ; I spoke with XXXX a PennyMac Representative and she said the tender of payment was received and processing allow ten days for such to happen. Please advise the letter from XXXX where is requested the CEO to respond! Therefore you are in default based upon our contract number XXXX. The phone call was recorded as noted on your documents for reference thereto the conversation held on XX/XX/XXXX approximately lpm cst. Penny Mac Corp Correspondence address XXXX, CA, I also noticed an increase in the principle balance totaling {$390000.00}. PennyMac Corp on Behalf of XXXX XXXX you are hereby notified that I do hereby tender payment for the above referenced obligation of debt, and because this debt concerns properly of the United States it is deemed by law and operation of statute to be a govemment obligation and must be handled in accord with the dictates of statute. I XXXX XXXX accept the obligation on behalf of the United States of America and hereby make assignment of the obligation to the United States Treasury Deparfinent on behalf of the United States ofAmerica as authorized by statute. PennyMac OBO XXXX XXXX, you are to present the item ( remittance coupon ) to the United States Treasury Department or at any Federal Reserve bank to include any Federal Reserve member banks to redeem the value of the obligation. As per the terms of the contract this shall serve as my notice of change in terms of contract, cancelling and or suspending any acceleration penalties and paying the US government debt obligation for value through acceptance pledging an assignment in full. Please accept this Tendered Payment Coupon and or Money Order which is lawful payment and credit my account ASAP, XXXX XXXX [ Account - PENNYMAC CORPORATION / XXXX XXXX 0 Attn : REMITTANCE DEPARTMENT XXXX XXXX XXXX XXXX XXXX, CA [ XXXX ] XXXX GOVERNMENT OBLIGATION 's REMITTANCE COUPON Pay and Pledged to the order of PENNY MAC CORPORATION without recourse . Amount of Obligation : CREDITED XXXX XXXX XXXX ) ( PAYER BY PAR INTENTIONS : The above United States govemment obligations is hereby accepted and acknowledged and I do assign and pledge the total value of the obligation to the United States ofAmerica through d1e United States Departrnent of the Treasury to be redeemed for value and receivable at the Federal Reserve, the Federal Reserve Bank and/or any member bank and/or national Association as prescribed by statute ( the act of XX/XX/XXXX ; the act of XXXX XXXX ; 12 USC 4ll ; l8 USC 8 ; and the intentions of ttre United Stats Congress concerning THE CURRENT SERIOUS NATIONAL EMERGENCY ).
Company Response: Closed with explanation