The only people who have given them 5 star reviews are people who couldn't get approved anywhere else. They are extremely difficult to get in touch with and offer little to zero help once you do. Steer clear if you know what's good. read more

I've had 2 previous refinances with Pennymac, and they were good. I've been with them for 7 years. Now I'm doing a refinance presently and it's a Nightmare. There loan officer are either overwhelm ed or smoking and popping pills on the job. There very incompetent and keep requesting the same documentation or saying they Don't need documentation and when i ask why is it taking so long to close my refinance (almost 2 months). They keep saying we've just approved your credit. What a load of Bull! I've never had a bad experience until now. Loan officer Glenn Maniclaus is Horridous!!!!!!! read more

Horrible horrible horrible! Do not use Penny Mac under any circumstances as it is not worth the 1/2% you might save. This may include sending the same documents over and over again, phone trees leading in circles, incompetence, rude employees, I could go on and on. We were a no risk loan with 50% down, 840 credit score making well over 200,000 a year. When our lock expired due to their incompetence, and the rate had gone down, they would not lower it but lied. read more

Sales department of Penny mac is the worst. They won't give you the clear picture and will tell you thousands lie to convince you to go for their loan. I was not initially convinced to refinance my house costing loan, but they called me multiple times a day and told me to pay for the approval fee which is refundable but later I found out that it is not refundable and when i seek for the explanation from the same sales person i was IGNORED. read more

Well my account got locked trying to create it....by entering the information they sent me in email...about an hour wait time to get someone on the phone, their automated system couldn't help me, and no email address I can find to try and get a hold of someone to address my issue. The app is garbage and it seems the company isn't much better. Really wishing my loan didn't get sold to them. read more

Absolute horrible company to deal with. They currently have my loan (they purchased my mortgage!) and called me to stay with them when i shopped refinancing. Never missed a payment and was trying to reduce rate and number of years. They continued to ask for docs that i have never been ask for in any mortgage app (remember they purchased my mortgage without any of this info!). Long story short, they turned me down for blacking out a partnership account number. Privacy issues here, not just for me but my partners. I had to call them to find out that i had been turned down. Zero customer service and zero communication to help the loan go through. Run away from Pissy Mac! Unless you like being bullied and ultimately dumped at the finish line. Fun 2 months meeting their demands. read more

Penny mac has been the worst experience of our refinancing life. We have financed 6 homes and refinanced three over 36 years and have NEVER had this poor service and communication. Closing was a surprise scheduled time without review of documents ahead of time. We refinanced and requested an additional 20k and due to their miscalculations or fraudulent additions which were thrown at us on the surprise closing we noticed our 20k turned into 17k...We started the procedure April 3 and were won over by the mortgage seller where she gave us exact numbers for closing costs she then turned us over to the"company team". No communication after our repeated emails. Closing took place May 30 with different surprise closing numbers....DO NOT use Penny Mac ,any of these people or company affiliates...all we wanted was communication and our 20k that we were promised. read more

Wish I could give them no star at all. Ruined my first home buying experience. Said that I could close earlier than my date and then ghosted me all the way to my actual closing date. Awful customer service. Never give them your money or trust. read more

Agree with the other reviewers about the horrible customer service. I didn't and would not chose them as a lender; unfortunately, my original lender sold my loan to them. Little requests take an act of god to get completed. A simple request to change from my full middle name on my public mail portion of my statement was met with some B.S. policy about not being able to change it. I have never had this issue with any other lender. I do not like my middle name on public documents in an effort to help mitigate identify theft. Most decent banks understand this.,,I hope my loan gets sold to one of them. read more

Not a great service. They sometimes work without confirming account status and making a big trouble to work up again.

If there was zero stars that's what I would choose. Loan officer admitted he made a mistake on prequalifying my loan. I'm stuck with the appraisal bill read more

Better hope no family member dies. They were not willing to work with me on the monthly payment when I had to use all my money to pay for funeral expenses and was out of work for a week. Their response, We don't do that and they went right into the late fee with NO regard with what I was going through. Would get rid of you if I could read more

Poor customer service. Poor management of online registration and payment portal and poor treatment of clients on social media pages.

DO NOT USE THIS COMPANY! BEWARE! I was $16 short on a payment and they sent me to collections saying I did not make any payment which was a lie. They charged me $45 in late fees on top of that. They refused to credit late fees even though I have never made a late payment in the 9 years I have had this account. This is a Bad company to deal with. Save yourself the trouble and find a better lender! DO NOT USE THIS COMPANY! read more

Can not say enough good about Pennymac. They are really there for me during the covet pandemic. When my loan got sold I was really concerned about changing financial institutions. Very pleased and couldn't do better with anyone else. HIGHLY RECOMMEND THESE GUYS read more

Pennymac is terrible. I had a problem and Pennymac employee Christine Ramsey gave me her e-mail and said she would help. I am still waiting for Christine Ramsey to answer my e-mails. After weeks and months, and repeatedly trying to politely follow up with her, I am moving on. To answer an e-mail is simple. To not answer an e-mail is rude, and lacking any effort at all. read more

Lymar C. has been a gentlemen, and professional, through and through with our loan. We could not have done it without him. He is the best! Wolf Den read more

Avoid at all costs! We have been Penny Mac customers for 13 years and had never had one single late payment. Ever. I turned on automatic payments back in September of 2023. Turns out that my September "automatic" payment never posted. I found this out in October. I immediately made TWO months of payments to fix the problem and spent hours on the phone trying to make sure this problem did not happen again. After being told the problem was fixed and everything was ok, I find out my credit score took a 130-point hit because of a "missed" payment to none other than Penny Mac USA. So now after weeks of messaging Experian and Penny Mac, I'm wrong and there is nothing that can be done. Even though both places could easily go back and see that I have never missed or been late on one single payment. This applies to all of my accounts. This credit reporting system is a scam. MAybe I would have been better off to not work so hard on having an excellent credit score and just taken handouts all my life. Penny Mac's webite claims their "Customers Come First". That is not the case at all. read more

Customer service is horrible no one answers and when they do they send you back to the automated customer service machine which won't help you with your questions or give give you answers to your question or questions at hand . There is server also number you can call but sends you to the same automated machine crap read more

Our loan was sold to PennyMac after 3 months of mortgage payments to our original lender. 7 months later, PennyMac has still not caught their books up regarding our account. We have been sent to collections, our credit dropped 150 points, their customer service reps have NO IDEA how to correct this. I have called and had extensive conversations with many PennyMac reps, and get the same round-about answers with NO resolve. This issue has caused us to be unable to fund the business we were planning on starting due to the hit our credit took. PennyMac- you deserve LESS than a 1 star. read more

Worst mortgage company we've ever had. Our close was set for yesterday at 1:00 and have just found out it's not going to happen today either. Reason? They have repeated written the loan package up wrong. I believe we are on the fourth set of documents. Each time is was the same mistake. In addition, they totally do not answer our attorney's, our realtor's, or my calls. They are taking mortgages that are not staffed or equipped to service. Who controls the close on the selling, purchasing, and financing of your home is too important to leave up to people who are incompetent. read more

This is the 8th home I've purchased and by far the worst mortgage company I've ever dealt with. Disorganized, don't do due diligence, customer service reps don't seem to know what is happening with your account...the list goes on. I do not recommend. read more

After getting many offers for a refi on my VA mortgage, I decided to start by calling Pennymac, since they are my current mortgage holder. I went through the process with them, signed all my documents and then they just dropped me like a bad habit. I had a locked in rate and was only awaiting scheduling for someone to come by with the papers for me to physically sign and no one ever contacted me. I reached out several times to different people by email and phone and never got a response. Who does that? Incredibly unprofessional and if my mortgage hadn't transferred to them automatically I would never choose to do business with them. I definitely don't recommend- totally unprofessional. read more

We have been in the process of getting a loan to buy a house in Florida with pennymac and they have repeatedly told us over the past 45 days that they did not need my income (moving out of state and quit my job on 4/15 and do not have a job yet) and would be fine with only my husbands income (works remotely) and now 5 days before we close and after we already got the closing disclosure paperwork from pennymac saying our loan was good to go they say that I need to have an income to get the loan. They asked me to hand write a letter 2 weeks ago on 4/11 saying that I was not working and told me it was fine that we could still get the loan. We are selling our house and if this loan does not go through we will not have a place to live. We have had multiple pennymac representatives tell us that this was a nonissue and now the underwriter is telling us it. We have been calling them for days to get answers and no one would call us back. Finally we got a hold of a manager today and she is calling us liars and telling us that they are not going to approve our loan 5 days before we close after we already got the closing disclosure paperwork yesterday and she lied saying they sent us emails before today saying that I have to have income. Before today they have never sent emails or calls or anything of that nature saying that I need to have a current job to get our loan. They have no evidence of these alleged emails sent and they do have phone call recordings of their representatives telling us that it was fine that I currently do not have a job, I would never have quit my job if they had not told me it was okay for me to not have a current job. This is criminal and because of them lying to us for 45 days we will lose our home. read more

Horrible customer service. I have closed many loans and have never experienced what I have with PennyMac. They keep asking for the same documents over and over. Requesting new documents after I gave them everything. I have talked to several representatives to try and push through this process but we keep circling back. I had a rate lock of 60 days and due to delays, we are past the date. Delays not caused by me, a very ridiculous company. read more

I've been with PENNYMAC for a few years now, the initial experience was okay. Recently tried refinancing my home which should have been an easy process. I've provided all documents and everything as requested and was constantly tossed to the side when asking of a status update. What should have been a seemless process turned into one of the worst customer service experience I've ever come across, and I've been in the customer service industry for years. This process not only took a little over 3 months before them letting me know they messed up the documents and misspelled my name which resulted in not being able to proceed with closing but not once was I ever called back. I called constantly asking for updates, as well as what else was needed and kept getting told lies about my closing date and such. Even after the fact I was awaiting a call from a supervisor and never got a me. I've had to call every time to just get the run around. I would never recommend anyone to use this company, they try to sell you on one thing and change things constantly through the refinance process and won't accept any accountability for their mistakes. It's been almost a month since my last conversation from them and to this day still not have received a call back. If you're looking for a mortgage company I would recommend anyone but them. read more

My loan was bought by these guys, and it's been a horrible experience. I received a supplemental tax bill from my county in November and called Penny Mac and told them about it, and told them when it was due by. They assured me a request was out in to pay it. I refinanced in January with another bank and they noticed the tax wasn't paid and now there is a late fee, and it needed to be paid before they could process my refi. I called a representative and he told me he would expedite the payment and it would show on my account in 3 days. 9 days later it didnt show so I called in, and was told they needed an audio recording of me giving permission to pay my supplemental tax bill. I also requested they pay me back the $300 late fee on my taxes because they failed to pay them on time as requested, they assured me it would be taken care of. Two weeks later my taxes were paid, but they did not refund the late fee I incurred because of their incompetence. I spoke to another woman who took the whole story down and told me she would expedited a request for the refund and would call me in 7 days. She didnt call me in 7 days, and I ended up calling back again after 2 weeks of no response. I spoke to another woman who said it appears the person put a request in to have my County refund the late fee, which made no sense because the county is not going to refund the late fee as it's the lender's fault they didnt pay the taxes on time. This lady said she will get it straightened out. So now I'm waiting to see if it is. Just a whole bunch of incompetent people there, or incompetent managers that dont train employees correctly. read more

I currently have a home loan with Pennymac. I chose to use them for my refinance only to find out what type of company they really are. I have had my home loan for 5 years. Pennymac acquired my loan a few months after I purchased my house. I have never had a late payment and submitted all paperwork for my refinance yet I keep getting emails to submit the same paperwork. There are too many people who clearly do not know what they are doing. After weeks of submitting paperwork, they send me a new loan estimate that raised my closing cost by 14,000. I hate this company and will be moving forward with my credit union. They do not value their customers at all. Use anyone except them. They never return calls or emails in a timely manner and they think I am going to be a fool and pad their pockets. What company wouldn't want to hold on to keeping loyal customers who always pay on time? Pennymac that's who. Their team of underwriters also treated me as if my official work documents were falsified or something. I have been on the same job for 14 years. Beware, Beware, Beware!!!! read more

I saw people were complaining about their service. I found them to be a great company so far. I had my doubts about what people been saying. I had an insurance claim go through followed their orders and they kept their word about 1-2 days max to be mailed back. Great service, friendly people, and would recommend them. They call me once a month to see if there is anything they can help me with. Great customer service. read more

this is a horrible company , customer service is some of the worst I have ever encountered in my life , my mortgage was bought out by PennyMac and its be a nightmare ever since, every year I get a escrow shortage because they wont calculate the payment correctly !!!!!!!!!! a NIGHTMARE !!! read more

This is the worst company I have ever had the misfortune to deal with. They do not respond to emails or phone calls. Halfway through the loan process the loan officer that I was working with either left the company or left my account, I was left guessing. I was assigned to a new officer that was impossible to get a hold of. I was strung along for 5 months, constantly being told my documents were going through the approval process, in underwriting, the process was delayed due to covid, the lock rate would be extended for me, that it would close by the end of October 2020, by Thanksgiving, before Christmas, no later than New Years and finally on January 19 2021, with no other correspondence sent, I received a refund on my credit card for the $100 process fee. I guess that meant my loan didn't go though even though I had been told repeatedly by the help center that it had been approved and it was just moving slowly through the system. I called and sent emails after I received the refund that were never returned or answered. I would never recommend this company to anyone. What a horrible and disappointing experience! read more

Penny Mac is Horrendous! They've only been my loan servicer for 3 months in which I experienced a loss on my roof. I cannot get the check endorsed by them to fix the roof no matter what I do. My property address is different than my mailing address, although it is the same property, and no matter how many times I call they cannot figure this out. I paid for overnight service to send my insurance check via Fedex along with I provided another overnight label for them to send it back, and they've had the check for 8 solid days. Once they did finally ship it back they shipped it to the property address, not the mailing address. When we call, no one seems to care and they still fail to follow simple instructions. Because my property address does not exist, this shipment will be returned to them. I have already paid 10500 out of my pocket to fix my roof, and have zero faith that I will get my insurance money of 9000 back. Do not do business with this company if you can help it. A simple insurance claim has turned into a nightmare because of a mailing address and I am out 9000. read more

Pennymac is horrible money hungry i sold my house and they told the escrow a certain amount of $$$ then they call and say its 2500 more from were wth.not to mention they ad misc charges on your bills . They apply the money anywhere they please and they almost took my home as well . Horribleeeeeee stay away read more

I pay my mortgage payment every month, on time, for four years using e-bill from my primary bank. In January 2020 the property taxes went up, so the mortgage went up.... Before I had a chance to adjut the ebill amount for 2020, the payment was sent to PennyMac for the OLD 2019 amount and not the new 2020 amount (the variance between the payments was $167). Before the new payment amount went out in February, PennyMac sends me a letter stating that my (VA-backed loan) was now in default?!?!? So after 4-years of perfect payment history and ONE minor payment discrepency of $167, PennyMac was ready to put the loan in a default status. The February 2020 payment went out on time and for the full amount, so all is good now, but this experience clearly shows that PennyMac does not value good customers with excellent payment history. This one action by PennyMac lost them a customer for life. There are thousands of good lenders out there.... this is NOT one of them. read more

Amir Rizvi Lied to us during our loan arrangement saying that we could have certain payment arrangements during refinancing, they waited until we couldn't back out of the loan and said we couldn't get the arrangement we discussed. Customer service ( jan and Pete Brown) covered for Amir, fuck this company. read more

They don't even deserve 1 star. If it had been up to us, our loan would never have been sold to PennyMac. We were very happy with our prior lender and were devastated when we were told our accounts had changed, personally i think the sale of mortgages between companies should require authorization from homeowners. With Caliber we were able to make payments every 2 weeks, but with pennymac we aren't allowed to do that unless we are an entire month ahead in mortgage payments. Furthermore, their loss drafts department has made things increasingly difficult to get the funds released, in order for my contractor to order materials and work on our house. We have funds sitting in escrow and yet we can't get them, so our house sits unfixed. Having our house severely damaged in Hurricane Michael was hard enough, but now having to fight pennymac for the money that insurance has given us to fix our home....it just adds salt to an already large wound. We have recently had to contact a lawyer in regards tothois, and it's sad that we will have to work with them to get pennymac to release our insurance money to us, so that we can fix our house. Until then, we are living in an RV because the house is gutted and not livable, and the fact that you make this process 10x more difficult is awful. Their customer service representatives are rude and when they put you on hold to talk to a supervisor, you end up holding for hours and then get mysteriously disconnected. This has happened to me multiple times. We are NOT happy with this company and I would highly urge anyone to stay far away from this mortgage company. read more

My mortgage was sold to this company a couple months after I bought my home. I recently requested refinance and was told based on my income that I was approved for a 15 year morgage with a very low interest rate. Then I sent all my verification information in on my income and they called and said it wasn't enough income, so I sent in legal documents on income that I receive monthly for two kids that I adopted, and then they told me that that verification wasn't good enough , even though it was legal documents and the loan officer was going to contact the person verifying and get back with me. I never heard back so I called again and all of the sudden the number I was reaching the loan offficer at is no longer any good, it transfers you to a loan processor that says he knows nothing about the loan cause he hasn't received the paper work. I have received nothing but a run around from everyone Ive talked to on my home loan! And they took a 100 dollar application fee out of my account. Stay far away from this company, if I ever get rid of them, ill never go back!!!!!!!!!!!!!!!!!!!!!! And it makes you give at least one star or I wouldnt have given any! read more

PennyMac is the WORST mortgage company to ever services homeowners and Veterans. PennyMac took over our mortgage from BOA while my husband a disabled Veteran was in bankruptcy because he used all our savings and monthly income to BURY my mother. So when he got done with his 100% payback bankruptcy meaning he paid every debt back to the last dollar. They wanted to tell us that we were behind on our mortgage when they got more money then they filed for in the courts first of all. Second of all after his bankruptcy was discharged we received paperwork that was signed by PennyMac, their attorney, the courts and my husband attorney that states that we owed them $0.00 on the bankruptcy side and on our regular mortgage side and I have send in proof after proof after proof since November 2019 then I filed a consumer complaint that was a joke and here we are August of 2020 and they are still claiming that all of our payments since my husband has been out of Bankruptcy has been late and they did not receive March until April which is a LIE. THIS IS THE WORST MORTGAGE COMPANY TO EVER BE IN EXISTENCE!!! Now we have to pay another attorney like they are not CROOKS themselves and all about money to try and help us get this worked out because PennyMac refuse too. My husband fought for this country and he is disabled because he fought and service for this country and this SLUM company is just being allowed to LIE and do as they please. If you have to have your mortgage with them I PRAY for you. read more

The ONLY reason I gave them a 1 star is because zero was not an option and I had to click on something. PennyMac is the WORST mortgage company I have EVER had to deal with. Customer service is absolutely HORRIBLE. THESE PEOPLE DONT HAVE ANY SENSE OF URGENCY. My house flooded in October 2018, it is now March 2019 and my house has not been fixed because PennyMac keeps making us go through MORE red tape in order to hold the money my insurance company has allotted for my house to be fixed, PennyMac keeps delaying and apparently wants to keep the money we have been allotted for repairs so they can make a profit on the interest, likely sitting in their escrow account until they have every piece of documentation they feel is appropriate. I have paid over $100 now in postal fees to have "the paperwork" they need in order to proceed with our claim. On several occasions we have sent the paperwork they claim we needed to have filled out and we don't hear anything back until we call PENNYMAC and they claim the documents aren't correct. NOBODY FROM PENNYMAC WILL EVER CALL OR SEND ANTHING IN THE MAIL. They will wait for you to call so they can keep on holding on to that insurance money so they can keep on making a profit off of it. I have a pod that we're responsible for paying for and getting fines from our HOA for having it sit in our driveway with our furniture in it for an extended amount of time. I am seriously considering getting a lawyer involved and as soon as my house gets repaired we will be refinancing with more reputable mortgage company ASAP. read more