My loan was sold to them. Their website and customer service is trash. No one is on the same page. I filled out loan modification paperwork three different times because I took the covid deferral and kept getting a notification that it was incomplete. Tried sending it directly to the underwriter, who blatantly lied and said he never received it. Obviously that was stupid since I had a record of sending it and could prove that I did send it, but it was still unprofessional to say the least. They have also been saying that I've been behind on payments since 2019, which wasn't true either and which I sent documentation to prove to them. Just an absolutely miserable, insane experience - no one there has any idea what is actually going on. As soon as I'm able, I'm getting refinanced through another company, literally anyone has to be better than these clowns. read more

Hello I received a call from a Jackie Sager asking me to go over cashout offer, She wanted me to do a cashout for 100,000. I said 25, Never heard back. Beware people, they are back to taking advantage Beware I wish I could give a zero rating Incredible read more

Worst loan company ever. Zero costumer service. Trying to contact them and I've been on the phone for over 30 minutes and nothing

I am a penny mac customer and I have been for years. This month, they decided to raise my mortgage $230 with absolutely no explanation. I tried to call several time and am currently at 3 hours and 15 minutes on hold. I am simply trying to ask a question regarding my account and they will not help me. The only worse customer service experience I have ever had is with the Afghani barber who insisted on shaving my neck with a straight razor in a hot war zone. I highly recommend financing ANYWHERE else. read more

Shame that the "new improved" automated customer service just makes it longer to get to someone who can actually help you. This is something you should rethink, this DOES NOT make me want to continue with you for additional services. read more

Pennymac is absolute trash. Customer service is garbage, the website is garbage, everything they do is garbage. This company is terrible, I am so pissed that my original company sold me out to this trash. read more

I'm a current customer and don't recommend pennymac! Customer care sucks. They don't care. Agents are improperly trained. Pennymac internal investigation does not exist. Lots of system errors and agent failures. Website portal and features are basic. Not the most user friendly. read more

Was in the hospital with covid. Almost died. So I was late with my house payment and Penny Mac was not understanding at all and would not remove negative remarks from my credit report. All of my other creditors helped me out by removing the negative reports on my credit record.  I'm a 100% disabled veteran. And unable to get a ADA home, that does not have stairs, because of the remarks from Penny Mac. They are the only negative remarks on my credit record. My score is over 750. They are not understanding at all. Even with proof. read more

I bought a new house with the builder Dr.Horton and my mortgage with DHI mortgage since they gave me $5000 towards closing costs if I used their lender. About a month after closing, I get letter that my loan was transferred to PennyMac. So, far I set up online payments on their website. And have no problems. Hopefully, when I pay off the house they will issue me my letter of reconveyance. The website is simple, and I have no need to be calling them when everything can be done on the website. I'm currently, on time on my payments. And paid 2 months in advance. read more

Avoid Pennymac or refinance out of them as soon as possible. They have repeatedly applied my monthly payment as an extra principle payment. Somehow I also ended up on paperless notifications (only this option was paperless others still were paper & Online) but i had never changed my option from paper since I do not trust them. Because notifications were paperless and I had not received a notice I did not know that my payments were jumping by over $200 per month in escrow. My homeowners insurance and taxes together only increased by about $45 per year. Their representatives talk to you like you are an embecile when you call, they always have an excuse why your payments were applied incorrectly and they always try to make it your fault and charge you fees because of it. read more

They are the WORST!!!!!!!!!!!! STAY AWAY!!!!! They receive NO STARS FROM ME!!! I was denied for a Refinance and the only answer I received was " Does not meet investor's guidelines. My credit is good............ I am a current customer of theirs and never, never been late on ANY of my accounts/credit. Obviously their Underwriting department sucks too!!! I will be leaving them ASAP!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! read more

This is the worst customer service ever with looong hold times, then they hang up on you. In have called at least 5 times and the same thing happens. If I could give them NO stars, I would. read more

They drag their feet. Communication is horrendous. The system does not operate properly. The loan department is not in communication with the oth er departments. They have costed me time money and lose of my refinance due to intrest rate in crease. I started the process jan 27th here we are the end of March and still waiting for them to get through processing. The hick up being They sent me a pay off statement and all my account log on took me straight to the loan department. I assumed my Feb payment was in the closing process and i paid my payment late not knowing it was due. However because of this they denide my loan due to late payment.. I went into this process with clean credit score 780 no late payments over a year and they denied me due to their system failure and service uncapabilities to communicate. Never again will I use them. Other loan agencies warned me. I turned 7 companies down as pennymac was my current title holder so I felt it would be a smoother process. Nope. They cost me alot of time and money. read more

Would give them a ZERO if I could. Absolutely horrible customer service! Had an issue with a property insurance claim... they did not help me at all get my claim check with my insurance company paid out. Jerked me around for almost a month. Every time I called them I had to explain the issue all over again to the person on the phone and they kept moving the goal post on me.... asking me to send a document, then making me wait on hold for up 20 minutes, only to tell me I needed something else.... an absolute nightmare to deal with. Would NEVER use this company for anything again. Avoid them at all costs...... read more

How PENNY Mac destroyed a family and has no remorse when you need assistance. I am not an employee, but this was the only way to write a review. In August my company took my department and moved it to the Philippians. Which left me stranded. My wife and I just had our baby on Aug. 2nd, so you could imagine my concern. I reached out to Penny Mac immediately! I was told to fill out a mortgage relief application and that everything was going to be okay. My first mistake, I trusted them. I lost my position on Aug. 25th and already made my Aug. payment, so of course, they were more than happy to take my money. I filled out the application right away, called again, and made sure I had all the documents required for my application. I applied for unemployment, but that took weeks to go through and when it did, I received $397 a week. I called Panny MAc once again, on Aug. 9th, because I was, 1. Concerned regarding my payment, because I had no income and 2. I wanted to make sure this would not reflect on my credit. I have never missed any payment, nor have I been late. I was told "We have your application, and we have all the documents we need. Don't worry about it. Everything is going to be okay." I have a family of 4, with the new addition, so it certainly put my mind at ease, because of course, I had so many other things to worry about. How am I going to get groceries for my family, how was I going to get diapers, and formula, keep my lights, and gas on? How am I going to pay my insurance? But, the representative I spoke with, on that end, made me feel so much better. Now, my application was denied because I collect unemployment and receive $397 dollars a week!? Not only that but, oh by the way you owe us for September and October now. I was absolutely floored! Of course, I made my payment for October because I'm not someone that just sits around and expects everything to be done for them. I was in need of help for 1 month and they couldn't care if I lost my house and my family of 6, including myself was put out on the street. Unbelievable. If the term, snake in the grass ever applied to anything, it's Penny Mac and what they have done to me. They say, on the recording while you're on hold, "If you're having a financial issue, not to worry, Penny Mac is here to help." If you have ever called, I'm sure you heard the same thing. When I call and finally get someone on the phone, they're either rude or have no experience in what they're doing at all. I just got off the phone with them again, their response was "well, there's nothing we can do for you." WHAT!!!! If I was told, in September, when I called that the application has a chance will not be approved, and if you can make a payment somehow for September, I would suggest it if you can. How in the hell can I be expected to pay anything with no income? The supervisor I spoke with, said "well, "there's nothin I can do, but I can request to pull the call." What professionalism. "Oh, and by the way, your payment went up $230 a month, with no warning at all. The supervisor asked, "Well, did yo taxes go up?" How the hell should I know, my mortgage company" I am in total disbelief at how a company can just so cold hardly leave you out to struggle and just make sure you give us our money. DO NOT REFINANCE WITH THEM! DO NOT USE THEM AS YOUR MORTGAGE COMPANY. I really hope this gets to someone and someone in this company decides to do the right thing. But sadly, it's not. Because all their concerned about is getting their money, not about their customers, loyal customers. They left me, the loyal customer to just fend for myself and my family. read more

I have been in Real Estate for 20 years and my recent refinance with PennyMac was one of the worst experiences ever. Closing took a month longer than it was supposed to and I had next to no communication with their team. They first held closing up for a septic survey and inspection on a home that is on city water. 4 months later I am still battling to have the property taxes paid that were withheld from cash at closing. I will be filing a Title Insurance claim to finally get some resolution. read more

Do you want to talk about how the loan process is they lose information and request for you to constantly submit it. They do not call you back after leaving a message they switch loan process employees because some are not doing their jobs so you can't complain to them. Shame on PennyMac their service is horrible, adequate loan processors, and just a constant struggle I'm trying to get your loan process. I went to another company and had my loan process immediately and with great service. That is the only reason why they buy loans it's because they can't process your loans. If I can write them negative v I would. read more

By far, the worst customer service, very unreliable, they all have different version on how to help you but never do. when they don't know how to help you, they just hang up, I have experienced this in so many occasions, that I honestly hate having to communicate with them. please take your business somewhere else, they not only lie to clients, horrible customer services, and loan officers tell you anything to get you as a client and then drop you when you need help, they are by far the worst lender I have worked with read more

My mortgage was sold to Pennymac, so I didn't have choice with choosing them or not. First off, I do like their website. It is easy to navigate and informative. It's much better than other websites that I have seen. I called customer service to get information on how to request a loan recast. The rep had a difficult time explaining the process but after a time, I understood what she was saying. She told me to wire the money and she would note in my account that the wire would be for a recast. I did that and called back a few days later to verify. The rep I talked to said there was no recast request on my account. She said she would make the request. Through their website, I also sent a message inquiring about PMI (since the money I sent in would make my equity far more than 20%). A response was due in 2 business days. That was over a week ago. They need to get their customer service in order. Servicing a loan is all about the customer experience. read more

I applied for a refinance in November 2020, the process appeared to be fine starting with curt And raven. I paid for an appraisal, place was appraised at double the loan amount. They quoted me 45 days. They asked for the same documentation numerous times, I guess I didn't see this as a red flag for their inability to stay organized. They stopped returning calls, but when I would be able to get a hold of my loan processor, she would tell me we are almost there to the finish line. They would ask for new payoff statements since their deadline was passed, new bank statements, etc. Two and a half months into it I was able to speak with the loan processors manager, craig. He assured me everything would be resolved. My debt to income needed to be adjusted, I paid off a credit card in the amount of $9,000. They asked me to get a letter from the credit card company showing this was completed. The underwriters confused where I am living with the property being refinanced. They could not understand the addresses were different. Letter after letter of explanation and Another three weeks went by with calling them daily. Sometimes not even a return of a call but an auto generated email, is everything okay we see you've called. Had numerous conversations with craig wood, where he apologized for all the lack of communication within his team and he assured me he would make this right and he would be In communication with me. None of which occurred. Waiting so long The rate expired, February 5 I received a call 90 days into the process saying they would not be able to move forward, no clear answers, unable to understand what happened in the 90 days of time. read more

the worst mortgage company I have ever had over the past 40 years. so not recommend. no. responsive and not helpful at all. beware!

Would give zero stars if I could. I have a mortgage with PennyMac. It is a 50/50 split between me & the person I purchased the home with. Last year, they only paid 50% of the taxes (an error they claim my county made by not sending them the other half of the bill). Regardless of who is at fault, you would think that the PennyMac employee looking at my account would have noticed a DRASTIC change in county taxes compared to the year prior. No. They did not. They proceeded to issue me a SIGNIFICANT $3,000 refund. In addition to this, when they ran an escrow analysis, they LOWERED my monthly payments by over $100. Two months later, I have collection agencies calling me and receiving delinquency letters in the mail from the county. I called PennyMac and they realized their grave mistake and paid the taxes. A new analysis was never ran, never asked for that $3,000 back, and they continued to charge me LESS than needed to cover the next years taxes. I thought that everything was handled on their end and never knew any of this needed to be looked at again or I would have asked for an out of cycle escrow analysis. Fast-forward to this month, I receive my "New" mortgage payment. This new payment is an $1,200.00 INCREASE from prior months and years. They refuse to admit they made and error and are charging me an ungodly amount each month, even after I gave them their refund money back! They will not work with me at all to admit their fault in this and are refusing to help me in any way. Completely forcing me to pay for a mistake THEY MADE. So, now I am struggling to make ends meet because PennyMac completely dropped the ball and there is nothing they will do to fix it. read more

Terrible service. I have been going through a refinance for the past three weeks and no one ever returns my call, to include the supervisor. They can't even seem to get a payoff statement for my previous loan which I had with them! They keep emailing me telling me they need the document when they have it! It doesn't appear anyone and this organization has any common sense or sense of urgency! I don't recommend read more

I was trying to refinance my home through Penny Mac because I already have a loan with them... This has been the longest and worst experience of my life... Had 60 days to close on the loan which a lot of lenders or 30 days... I guess FHA required some things to be fixed on the outside of the house which was fine I had some contractors trying to fix a few items that fha required. I Was trying to get a hold of Penny Mac for I don't know how many weeks and come to find out today which has literally been a month that I was denied.... When I have had contractors and spending more money and trying to get this refinance done... I emailed daily wanting updates etc. would not hear from anybody I called and left messages would not hear from anybody..They can blame it on Covid all you want as far as lack of communication but there was none. This been has been the worst experience of my life of non-communicating even though I had certain people to contact and never hear back from them... I will not be refinancing with them ...I will be looking elsewhere... And I will be getting rid of my loan with them as soon as possible...I would give them zero stars if I could but I can't. read more

Pennymac Loan Services - An email I finally received today a month later to tell me that I was denied.... wow! Thanks for letting me know a month ago... - Mortgage Lenders Near Me - Henderson, Nevada

This firm avoids its customers at all costs! No one answers the phone, so when you have a problem, you are screwed completely. All the phone line does is refer you to the website, but when the website is down, you are totally f*****!! You cannot do a damned thing in any way. First, turn OFF the electronic mailings! Again, when the website doesn't work, you have NO RECOURSE. I've been on hold four times, this one morning, and the phone line kicks you out after 30 minutes. Don't use Pennymac if you ever think you want to get service!! read more

I have been trying to refinance my current PennyMac loan for about 3 months now. I was told in the beginning that they would be able to close within 45 days. They have asked me to upload the same information multiple times and haven't been able to give me a closing date since September. I have tried speaking with a manager for over a month with no luck. PennyMac has the worst customer service that I have ever experienced and I would strongly recommend anyone to look elsewhere for any type of loan! read more

PennyMac purchased our home loan. The terms of our original loan allow us to 'recast' the balance and PennyMac refuses to give us written instructions on how to trigger the recast and where to wire a large amount of money towards our loan. The reps I spoke with would not allow me to speak to anyone higher-up to ask for written instructions. Instead of making everything clear and easy, they make it confusing and hard to access. Can't wait to refinance away from this company - very low confidence in their customer service, and we've only been with them two months. read more

The PennyMac loss draft and main office have been nightmares to deal with over the past three years since the loss of our home in the Paradise Camp Fire. Most recently, a request for funds withdrawal to enclose the open framed structure with doors, roof and exterior siding was denied by the main office because the inspection report did not conform to their rigid and irrelevant progress inspection reports. The PennyMac required interior construction cannot begin until the exterior is secured to prevent potential theft, vandalism and exposure to the elements. The house is located in a high risk fire danger area and a simple grass fire would threatened the open framed structure and all of the construction progress to date. PennyMac has been provided all of the pictures and contractor documentation to support the request for additional funds to move forward but to no avail. PennyMac is on well documented, written notice of our concerns and disappointment that a senior citizen, a Veteran, PennyMac customer/fire victim and his family must remain displaced from their home due to a mortgage company who is unwilling to release the funds to rebuild their home. The PTSD experienced in navigating through the PennyMac insurance quagmire is nearly tantamount to the trauma suffered when we fled our home November 8, 2018. ***WOULD LEAVE 0 STARS IF THAT WAS AN OPTION*** read more

This is the worst Mortgage Company I have ever deal with. Beware of their horrible regard for their valued customers. They will string you along bouncing you from person to person for months and then they try to stick you with a last minute change to improve their profit. Stay away from this company. read more

Absolutely the worst mortgage company. Zero customer service. They bounce you around from one person to another. Their team doesn't response to emails and some days their phone stops working all together. Do yourself a favor and do not use them, you will regret it. read more

the absolute poorest customer service EVER no problem taking your money, big problem if you have to get anything answered and they owe you money back DO NOT EVERY TRUST THEM WITH YOUR MORTGAGE read more

Started well, but the ops team doesn't follow up and you're just a file # in their system. They pushed to get all the documents they needed (a lot, but not bad until they wanted a copy of 2nd mortgage note AFTER getting the subordination approved). No one noticed that my titlework sat in their office for 2 weeks because their reviewer left the company. Processor gave me a verbal shrug and kept doing the minimum amount of work he could. I tried for 6 weeks to withdraw my application until they sent the denial letter today for an "incomplete application". Keep looking dear reader - you have better options and better rates waiting. read more

We initiated a home refinance 09 JUN 2021 with PennyMac. We disclosed EVERYTHING to them. To include, our house had been on the market from March - May 2021. Due to cost of lumber, we decided against building on land we purchased in 2020 (also on file). We are waiting for our daughter to graduate in three years to sell and/or build. On 13 July, we were called by our bank and PennyMac, requesting a payoff. She told us everything will be done by tomorrow, 14 July. We waited until today, 23 July to find out the loan was closed due to our house being on the market prior to applying for refinance (which they knew day one (1). More information about us contained in BBB report. Both of us are financially successful, have high credit scores, etc. The total cost: $500.00 to lock in interest rate $300.00 Home Appraisal XX% of interest rate that was locked in early June until we get this resolved. Amount lost undetermined. If it goes up 3%, they will be responsible for that amount, as they led us on with a policy that was in place prior to taking our money and leading us on. This all when their policy the whole time was you had to have your house off the market for six months prior to applying for a refinance with them. Of note: they even noted in their files that I just pulled my house off the market recently. Also, a huge issue, nobody called, emailed; nothing. We were just hanging out, thinking this thing was approved. read more

Their website blows. You can't log in and then there is no one available to help you if their are technical difficulties. Completely sucks. Fix your stupid website Pennymac. Setting up Re-occurring monthly payments is nearly impossible if the website is broken and no customer assistance is available. Same issues and "extremely long wait times due to high call volume" message for 6 months. read more

I write this post after 3 months of headache and unethical behavior from Pennymac. For my current loan that was in COVID forebearance, they told me to sign a form that would get the forebearance approved. After signing it, they told me that the foreberance would not be approved because I signed the form they told me to sign. I had to pay a large sum of money to bring the loan current. I have two other properties that I tried refinancing with them. They quoted me and gave me pre approval for certain terms based on my salary, deb, etc. When it came to closing for both loans, they completely changed the terms of the loan on both loans. I tried calling them for over 1+ month to see why the terms changed and no one could answer me. Each time I'd call I'd leave a message and they would say a manager or my loan officer would call me. No one ever one would and this happened for over one month. Each time I called to check the status, they didn't know why I was calling as if the notes from the previous calls were not being recorded. They approved the refinance on both loans based on the new terms which I did not agree to and kept calling me to schedule a closing after I told them numerous times I was not agreeing to the terms. Pennymac is disorganized, unethicical, and has the worst customer service. Save your self the headache and go with a different company. TRUST ME ON THIS. Pennymac you guys have my contact info. I am not hiding from you. You can call me and I'll tell you guys the same thing I wrote here. read more

Speaking from personal experience, stay as far away from Penny Mac as possible. I started a VA refinance in July and we have yet to close. I chose Penny Mac since they are who currently services our home loan so using them only made sense. Since July, I have been given every excuse in the book about the delay and was told upfront that the appraisal is what usually holds up the closing, yet we had that within two weeks. We sent in every document requested within 24 hours and kept being told we would hear from them "soon" (their definition of "soon" is much different than mine). Here we are almost 4 months later and after excuse after excuse, our refinance is FINALLY ready to close. Our guy, William Long, along with his sidekick Robert Gillespie, got us into a really great program! I'm not sure what the name of it is but here's the deal: our credit score is over 800 and we refinance our loan now and pay a little bit higher interest rate (3.99% for a VA) and in six months we can refinance again and get the low 2.25% interest rate. We just have to pay a higher interest rate for 6 months until we can get into the lower interest loan. WOW, what a deal! I reviewed the closing docs and saw the 3.99% for 30 years but there was no mention of a refinance in 6 months, or this "special program" he got us into. I took the liberty of contacting a local (my recommendation for anyone out there) and he told me that what Mr. Long and Mr. Gillespie are doing is getting me to refinance our loan twice so they can earn double the commission. I have just wasted 4+ months to find out that our pending refinance is a SCAM. As someone mentioned earlier, all of the positive reviews here are likely fake and written by Penny Mac employees to dilute the bad reviews. I wish I would have read these in July before I picked up the phone and wasted my time. Clearly there are a lot of folks who work for Penny Mac and know this is happening, SHAME ON PENNY MAC! read more

The absolute worst mortgage company, hands down. We would never have chosen them had our first mortgage company not sold our mortgage right off the bat. The customer service is HORRIBLE. The management is HORRIBLE. If you don't HAVE to use them... DON'T!! Steer clear. Very deceitful-- hidden "rules" and they don't follow state guidelines or laws. Will never willingly use Pennymac Mortgage again. read more

PennyMac has serviced our home loan for the past seven years. No problems. No hassles. Then, this year, we refinanced with them at current low interest rates. It was a nightmare of mistakes, poor communication, pointing fingers, and "excuses" for all of the above. The first time the mortgage package was delivered by a mobile notary, I noticed that my "final" Closing Disclosure was thousands of dollars different than the figures on the papers I was expected to sign. I tried to get someone on the phone from both the title company and PennyMac but they failed to respond at 6:30 pm while the notary was in my home. So, I sent the notary packing with the three and a half pounds of error-ridden documents. It took four days of phone calls and emails before the issues were resolved. Excuses from title and mortgage companies were that they were overloaded and "these mistakes can happen". So, instead of checking the figures on the first go-around, everyone involved had to spend way more time doing it over. And over. We finally closed and all will be well, but it was a ridiculously error-ridden process with no one in charge on their end. The most frustrating thing of all was that NO ONE disagreed or challenged the mistakes I brought their attention. So, they essentially plead guilty to incompetence at every turn. (I'm not sure that there are any mortgage companies or title companies that do their jobs all that well--as evidenced by the three real estate transactions I have done over the past three years. *SIGH*) read more

After the sale of a property that was financed with Pennymac, per their customer service agents and "managers", that due to their processes and procedures, I am now left without the return of my escrow and unused mortgage insurance. Further, I've spent countless hours on the phone with them, only to hear "sorry, I am unable to help you. read more

Ever since my loan was transferred over to Pennymac it has been a nightmare. Their reps are incompetent and continue to provide false information on my loan and the changes that will be made if I pay off xyz. I had a case escalated to management who mentioned they would follow up with documentation, in particular David Azur, only to find out the case was closed that day. Pennymac is god awful, no better way to put it. read more