Complaints
This profile includes complaints for PENNYMAC's headquarters and its corporate-owned locations. To view all corporate locations, see
Customer Complaints Summary
- 674 total complaints in the last 3 years.
- 212 complaints closed in the last 12 months.
If you've experienced an issue
Submit a ComplaintThe complaint text that is displayed might not represent all complaints filed with BBB. Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business.
Initial Complaint
Date:03/04/2025
Type:Status:AnsweredMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
In November 2024, I was notified that the property taxes owed to my state county were higher than it should be. The bill was $10,206.39 when the accurate amount was $3,832.49. I notified PennyMac of this via the Message Center. After corresponding with PennyMac, it seemed like we all agreed to hold payment. Then on December 2, 2025, my county corrected the property tax issue. On December 3, 2024, I received a message from PennyMac that stated they acknowledge the changed amount and will pay the updated amount. However, PennyMac still paid the higher amount. I messaged PennyMac again on 1/3/25 and stated "Can you please explain why the $10,000 was paid when you all assured me it would not be paid. The $10,000 amount was paid instead of the correct amount in the $3,000 range?" I never got an explanation other than that it was a mistake and my escrow would be updated accordingly. Subsequently, I received Form 1098 from PennyMac that shows the Real Estate Taxes Paid was $10,206.39 and not $3,832.49. PennyMac informed me that, because the refund from the county was received in January, the 1098 cannot reflect the $3,832.49 amount. I eventually got a call from Karen C., a Research Specialist, on February 21, 2025. I explained the situation to her and she agreed that this was a mistake on the part of PennyMac and that $3,832.49 should have been paid. She said she was going to reach out to the Tax department and see what they were going to do to rectify this situation. She said she would call me back by Tuesday, February 25, 2025. I also got a message in the Message Center that also stated that she would be calling me Tuesday, February 25. Now, a week past the day PennyMac was supposed to call, and I have not received an update or a resolution to the mistake caused by PennyMac. I have called multiple times and left voice messages. Now, I went back today to pull the messages I sent regarding this issue, and they are no longer in my Message Center.
Business Response
Date: 03/04/2025
Thank you for bringing this matter to our attention and allowing PennyMac Loan Services, LLC (“PennyMac”)
the opportunity to review and respond to Mr. G********' concerns.
PennyMac strives to provide superior customer service and respond to all inquiries in a timely manner. A
detailed letter of explanation will be sent to Mr. G******** under separate cover within 15 days.
PennyMac values and protects its customers’ confidential information. Due to privacy reasons, we will
refrain from posting any personal information to the BBB site as we do not disclose our borrowers’ personal
information.Initial Complaint
Date:03/03/2025
Type:Status:AnsweredMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
In October I submitted a request for a disaster forbearance due to our home being damaged in the Hurricane Hellene event. We had to pay for a deductible for a roof and other damage to our home. I paid Octobers Monthly payment and requested to defer November, December and January payments through the automated system online on the Pennymac website. I checked in every single month online as it told me to do. It also states no further contact or information is needed other than your check in to ensure assistance was still needed. Once the forbearance ended I contacted Pennymac on 2/3/25, which was the first business day of the month and as soon as I verified my information and the representative answered the phone. She was like you owe $12,431.10, how would you like to pay today? She was the most rude and insensitive and honestly mean person I think I have ever dealt with. I was trying to explain my APPROVED forbearance situation but she kept interrupting me and saying well you need to read the “fine print” and you should have done this, and you should Have done that. I finally got a few words in to explain and she said well I will have to see what you are approved for as you are not guaranteed anything at all. I was at a loss for words. I am a RN, I am someone who pays my bills and is on time with things owed and I am Appalled I was treated this way! But this is not all of what happened! I was reported 90+ late on my mortgage by PENNYMAC SERVICES!! I was absolutely not as I was in an APPROVED DISASTER FORBEARANCE PLAN! I was told “well they do not reverse anything” I explained this was absolutely incorrect and I demanded this to be escalated further. I never heard a word back and this has affected my credit scoring so much that it is now in the 500’s!!!
This should have never happened! This is a terrible thing to do to people
Who trust you and need your help. You approve them, talk to them like trash and then report them falsely to credit bureaus. Terrible!!!Business Response
Date: 03/03/2025
Thank you for bringing this matter to our attention and allowing
PennyMac Loan Services, LLC (“PennyMac”) the opportunity to review and
respond to Ms. H*****'s concerns.
PennyMac strives to provide superior customer service and respond to
all inquiries in a timely manner. A detailed letter of explanation will
be sent to Ms. H***** under separate cover within 15 calendar
days.
PennyMac values and protects its customers’ confidential information.
Due to privacy reasons, we will refrain from posting any personal
information to the BBB site
as we do not disclose our borrowers’ personal information.Customer Answer
Date: 03/03/2025
Complaint: 23010957
I am rejecting this response because: I want to ensure Pennymac will address the inaccurate
Information reported to the credit bureaus. A letter is fine but I need to know this will be addressed as this is not accurate information at all. I do not want to close this dispute and the letter state other information.
Regards,
***** H*****Business Response
Date: 03/04/2025
Thank you for the
additional information. Please be assured you will receive a formal
response addressing each of your concerns. Due to privacy reasons, we
will refrain from posting any personal information to the BBB Site. This
response will be sent to you under a separate cover within 15 calendar days.
Additionally, a
Priority Complaint Specialist attempted to reach you by phone on March 04, 2025 , and
provided a voicemail for a callback. We encourage you to make contact, to
further discuss, at your earliest convenience.Customer Answer
Date: 03/04/2025
Complaint: 23010957
I am rejecting this response because:
I did not receive a phone call today from anyone or a voicemail from Pennymac I will be expecting the call thank you
Regards,
***** H*****Initial Complaint
Date:03/03/2025
Type:Status:AnsweredMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
I have bern trying for over 8 weeks to stop Ornnymac from charging me double for my escrow. I paid for my insurance from The Hartford but Pennymac refuses to remove the insurance from my escrow. This is fraudulent.Business Response
Date: 03/03/2025
Thank you for bringing this matter to our attention and allowing
PennyMac Loan Services, LLC (“PennyMac”) the opportunity to review and
respond to Mr. I****'s concerns.
PennyMac strives to provide superior customer service and respond to
all inquiries in a timely manner. A detailed letter of explanation will
be sent to Mr. I**** under separate cover within 15 calendar
days.
PennyMac values and protects its customers’ confidential information.
Due to privacy reasons, we will refrain from posting any personal
information to the BBB site
as we do not disclose our borrowers’ personal information.Initial Complaint
Date:02/27/2025
Type:Status:AnsweredMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
With a recent escrow change with my Pennymac account, I had to contact your customer service team. Unfortunately, the team was in another country and were not able to comprehend English. After presenting information multiple ways, the “global customer service” team members simply hung up the phone. This happened three (3) times over a two day period.Business Response
Date: 02/27/2025
Thank you for bringing this matter to our attention and allowing
PennyMac Loan Services, LLC (“PennyMac”) the opportunity to review and
respond to Mr. D********'s concerns.
PennyMac strives to provide superior customer service and respond to
all inquiries in a timely manner. A detailed letter of explanation will
be sent to Mr. D******** under separate cover within 15 calendar
days.
PennyMac values and protects its customers’ confidential information.
Due to privacy reasons, we will refrain from posting any personal
information to the BBB site
as we do not disclose our borrowers’ personal information.Initial Complaint
Date:02/27/2025
Type:Status:AnsweredMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
I am falling behind on my payments. The first time I called I was told, "you called just to tell us that? What are we supposed to do about it?" Then I called to try to make a partial payment and was told, "PennyMac does not and will not accept partial payments". The third and fourth time I spoke with foreigners that could barely speak English and the language barrier was such an issue we could not get anything accomplished. Can somebody help me or should I just go into foreclosure?Business Response
Date: 02/27/2025
Thank you for bringing this matter to our attention and allowing
PennyMac Loan Services, LLC (“PennyMac”) the opportunity to review and
respond to Mr. H********' concerns.
PennyMac strives to provide superior customer service and respond to
all inquiries in a timely manner. A detailed letter of explanation will
be sent to Mr. H******** under separate cover within 15 calendar
days.
PennyMac values and protects its customers’ confidential information.
Due to privacy reasons, we will refrain from posting any personal
information to the BBB site
as we do not disclose our borrowers’ personal information.Customer Answer
Date: 02/27/2025
Complaint: 22996678
I am rejecting this response because:I do not see how waiting several weeks for a letter is going to help me? Why can you guys not call and help me figure this out? Wouldn't that make more sense and be more professional?
Regards,
***** H********Business Response
Date: 03/03/2025
Thank you for the additional information, and
for speaking with our Priority Complaint Specialist on February 28, 2025. Please be
assured you will receive a formal response addressing each of your
concerns. Due to privacy reasons, we will refrain from posting any
personal information to the BBB Site. This response will be mailed to you
under a separate cover within 15 calendar days.Customer Answer
Date: 03/03/2025
Complaint: 22996678
I am rejecting this response because:I was told I would get a follow-up call, so I do not feel that this case should be closed until that takes place.
Regards,
***** H********Initial Complaint
Date:02/24/2025
Type:Status:AnsweredMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
Pennymac claims they have the correct tax information and yet again they do not and continue to refuse to verify the tax information. My mortgage increased by over 400 dollars a month in part because Pennymac refused to very their recordsBusiness Response
Date: 02/24/2025
Thank you for bringing this matter to our attention and allowing
PennyMac Loan Services, LLC (“PennyMac”) the opportunity to review and
respond to Mr. S****'s concerns.
PennyMac strives to provide superior customer service and respond to
all inquiries in a timely manner. A detailed letter of explanation will
be sent to Mr. S**** under separate cover within 15 calendar
days.
PennyMac values and protects its customers’ confidential information.
Due to privacy reasons, we will refrain from posting any personal
information to the BBB site
as we do not disclose our borrowers’ personal information.Initial Complaint
Date:02/21/2025
Type:Status:AnsweredMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
This Company bought my home loan and when i Refinanced with them it was the hardest process ive ever been through with a lender. They are extremely hard to get a hold of and talk to about issues, refinance should have taken 1month it took 4months. Ok on to the real complaint, I was issued a property tax refund and since I refinanced at the end of the year the title company paid my taxes through my loan refinance. The County Tax assessor office had to send a check to the title company, they intern sent it to Penny Mac on Feb 12th with a signed FedEx tracking number. I have now been trying to chase down my Refund from PennyMac for 3 weeks. They say they do not have it and can not find it, even though i gave them the FedEx tracking number and the name of the person who signed for it. This is getting Ridiculous, I will never use or recommend Pennymac to anyone. The check amount is over $4,000 dollars and at this point it is Theft. They have it and are refusing to send me my money that is due to me. I am a 100% Disabled Veteran and am getting ready to go to the news or file a police report of theft.Business Response
Date: 02/21/2025
Thank you for bringing this matter to our attention and allowing PennyMac Loan Services, LLC (“PennyMac”)
the opportunity to review and respond to Mr. H****'s concerns.
PennyMac strives to provide superior customer service and respond to all inquiries in a timely manner. A
detailed letter of explanation will be sent to Mr. H**** under separate cover within 15 days.
PennyMac values and protects its customers’ confidential information. Due to privacy reasons, we will
refrain from posting any personal information to the BBB site as we do not disclose our borrowers’ personal
information.Initial Complaint
Date:02/19/2025
Type:Status:ResolvedMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
When I bought my home in March of 2023 I was told my payments would be $3,300 and change. Several months in I was contacted and said because I am not homestead and or agg exempt till end of 2024 my payment would go up to $3,851.85 to put enough in escrow to pay taxes.
I did get my home exemptions done in 2023 to be effective for 2024 and on. The end of 2024 my escrow only had to pay $2,360.00.
I got around to finding out why my payment hadn't dropped and called my county and they let me know I am fully homestead exempt and agg exemption. My estimate for end of this year payment is $2,458.38. I had to call 2/14/2024 and did push this problem and gave them the trim notice. They said yes the taxes are much lower than expected and I would only need to pay the original amount $3,337.70. That is a decrease of $514.15. Meaning I paid at least $514.15 MORE than I needed to for 14 months. Jan-Dec 2024 As well Jan- Feb 2025.
That an overage of $7,198.10 I need that refunded in full.Business Response
Date: 02/19/2025
Thank you for bringing this matter to our attention and allowing
PennyMac Loan Services, LLC (“PennyMac”) the opportunity to review and
respond to Ms. R******'s concerns.
PennyMac strives to provide superior customer service and respond to
all inquiries in a timely manner. A detailed letter of explanation will
be sent to Ms. R****** under separate cover within 15 calendar
days.
PennyMac values and protects its customers’ confidential information.
Due to privacy reasons, we will refrain from posting any personal
information to the BBB site
as we do not disclose our borrowers’ personal information.Customer Answer
Date: 02/19/2025
Complaint: 22962887
I am rejecting this response because: Taking that long to process this serious of a matter is not acceptable.
Regards,
****** R******Business Response
Date: 02/20/2025
Thank you for the additional information, and
for speaking with our Priority Complaint Specialist on February 20, 2025. Please be
assured you will receive a formal response addressing each of your
concerns. Due to privacy reasons, we will refrain from posting any
personal information to the BBB Site. This response will be mailed to you
under a separate cover within 15 calendar days.Customer Answer
Date: 02/21/2025
Better Business Bureau:
I have reviewed the response made by the business in reference to complaint ID 22962887, and find that this resolution is satisfactory to me.
Regards,
****** R******Initial Complaint
Date:02/19/2025
Type:Status:AnsweredMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
We suffered a flood due to Hurricane Helene in Florida on 9/27/22. We have submitted our insurance check for completion of the repairs. The mortgage company is committing civil theft by keeping our insurance check and NOT releasing any monies.
Per the Fannie Mae guidelines
Mortgage Loans Current or Less Than 31 Days Delinquent
If a mortgage loan is current or less than 31 days delinquent at the time of the loss event, then the servicer is authorized to
release an initial disbursement of insurance loss proceeds up to the greater of
$40,000;
33% of the insurance loss proceeds; or
Additionally, the mortgage company is violating Florida law stating that a homeowner can't do their own repairs which they can.
This is a terrible situation the mortgage company is putting us through.
They need to immediately release the $40,000 per Fannie Mae guidelinesBusiness Response
Date: 02/19/2025
Thank you for bringing this matter to our attention and allowing PennyMac Loan Services, LLC (“PennyMac”)
the opportunity to review and respond to Mr. W*****'s concerns.
PennyMac strives to provide superior customer service and respond to all inquiries in a timely manner. A
detailed letter of explanation will be sent to Mr. W***** under separate cover within 15 days.
PennyMac values and protects its customers’ confidential information. Due to privacy reasons, we will
refrain from posting any personal information to the BBB site as we do not disclose our borrowers’ personal
information.Business Response
Date: 02/19/2025
Thank you for bringing this matter to our attention and allowing PennyMac Loan Services, LLC (“PennyMac”)
the opportunity to review and respond to Mr. W*****'s concerns.
PennyMac strives to provide superior customer service and respond to all inquiries in a timely manner. A
detailed letter of explanation will be sent to Mr. W***** under separate cover within 15 days.
PennyMac values and protects its customers’ confidential information. Due to privacy reasons, we will
refrain from posting any personal information to the BBB site as we do not disclose our borrowers’ personal
information.Initial Complaint
Date:02/19/2025
Type:Status:AnsweredMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
I contacted Pennymac after the Eaton Canyon fires and told them that my family was impacted by the fire and I was told that I could be on deferment now they are making my account deferment didn't qualify for the deferment and now I am past due. i was completely honest and said my daughter's employer burned down my aunt died and I didn't know what would happen they said that I could be on deferment until the end of March and now the are renigging on that offer and i am 2 months past due because of itBusiness Response
Date: 02/19/2025
Thank you for bringing this matter to our attention and allowing PennyMac Loan Services, LLC (“PennyMac”)
the opportunity to review and respond to Ms. B*****' concerns.
PennyMac strives to provide superior customer service and respond to all inquiries in a timely manner. A
detailed letter of explanation will be sent to Ms. B***** under separate cover within 15 days.
PennyMac values and protects its customers’ confidential information. Due to privacy reasons, we will
refrain from posting any personal information to the BBB site as we do not disclose our borrowers’ personal
informationCustomer Answer
Date: 02/19/2025
Complaint: 22959342
I am rejecting this response because: there was no data or resolution listed
Regards,
**** B*****Business Response
Date: 02/19/2025
Thank
you for the additional information, and for speaking with our Priority
Complaint Specialist on February 19, 2025. Please be assured you will
receive a formal response addressing each of your concerns. Due to privacy
reasons, we will refrain from posting any personal information to the BBB
Site. This response will be mailed to you under a separate cover within
15 calendar days.
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