Complaints
This profile includes complaints for PENNYMAC's headquarters and its corporate-owned locations. To view all corporate locations, see
Customer Complaints Summary
- 672 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:12/23/2024
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 reaching out to Penny Mac headquarters regarding my account. For starters, I made an online payment as normal on Dec. 1st., and apparently something was wrong with the system because normal a message immediately populates stating there's a pending payment. No message for at least 30 minutes. I decided to back and start over of which the second time it immediately states pending payment. Not until the 3rd, I noticed I received two separate emails thanking me for a payment of which I knew something was wrong. I immediately contacted Penny Mac and stated what occurred with the system and asked to reverse one. After finally speaking with a supervisor, I was advised it would be better to stop payment on the transaction of which I did. At that point I was told by the bank one of them was paid and the second had been sent back due to insufficient funds and there was nothing that needed to be done. A few days later I checked my account and noticed two eventually got paid due to the fact Penny Mac re-sending the payment back of which the bank paid a second time. One on the 3rd and the other on the 6th. I filed a claim with my bank and they did a reversal by placing temporary funds in my account. I have sent my bank statement and still no resolution. I had to eventually contact my bank and place a conference call in to explain that there was a duplicate payment The bank did in fact state they would handle it because they have all of the documents validating what has occurred. I told Penny Mac even so, I want a return call back and a resolution to this matter. I also wanted to express the disrespect received from Penny Mac when addressing matters from those of authority to the point, I find it extremely hard to believe calls are being MONITORED based off negative interactions. I did receive a call from an individual and tried to reach back out and one of the reps thought it was okay to say they were BUSY and one of the supervisors also endorsed this behavior.
Business Response
Date: 12/23/2024
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 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: 01/02/2025
Complaint: 22717494
I am rejecting this response because:I received a call from V******* that I’m assuming is from PennyMac corporate office. I was advised by her that she would contact me with her finding related to this issue by Jan 3rd, plus I would like to keep this open for documentation due to the fact I have spoke with a MULTITUDE of people from this company only to be disrespected about this matter which has yet to be resolved. I have sent them documents upon their request as well as spoke with my bank by conference call which also reconfirmed that payments were processed and debit from my account on two different occasions. The bank did place a temporary credit on the account until this matter is resolved. I also I’m asking to keep this open because once again I made another payment to on the 31st to avoid PennyMac sending a negative inquiry to the credit bureau since they still have determined where the 2nd payment mystery went too, which is provided on my bank statement once again by there request. This issue has been from one department to the other and proof has been sent as well. I honestly, don’t have much faith in this company and this scares me to the core knowing they have the ability to send negative inquiries to the credit bureau due to there error. Not only do I want an explanation, I would like to post this issue publicly for other customers to be aware of that I am going through because this is by all means unacceptable for a mortgage company and giving the fact they have the ability to control a customer’s credit history. Once again, I would like to keep this open because the same problem still exist when making online payments. Being that I make online payments each and every month and very familiar with the process, it’s beyond strange way it does state after making payment that you currently have a PENDING payment. I brought this is to several of the individuals I spoke attention and was told by one representative that I wasn’t the only customer to mention this. The same exact problem is occurring the system is NOT identifying there’s a payment made of which it has done in the past (took multiple pictures on 12/31 as proof) and what’s SO DISTURBING there’s obviously a problem that I’m sure is NOT BEING INVESTIGATED, but yet in still would elect to charge a customer for making a payment by phone with a representative that really poor business practices and highly unethical for a business to treat customer especially after making them fully aware of the problem. Once again, please leave this case open and I would also like to publicly inform others and for documentation purposes.
Regards,
******** R****Business Response
Date: 01/03/2025
Thank you for the additional information, and
for speaking with our Priority Complaint Specialist. 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: 01/09/2025
Complaint: 22717494
I am rejecting this response because:After speaking with some in the escalation department and went over everything that occurred regarding the duplicate payment, I felt comfortable with the outcome, but after receiving the attached letter date January 2, 2025, I don't feel as though Penny Mac first of all own up to the fact that the payment made on Dec 1st. 2024 was a duplicate payment. In the letter it states I made a payment on both December the 1st and Dec. 2nd at different times and that is ABSOLUTELY INCORRECT therefore your investigation was unsuccessful. The payments were made on Dec 1st and as I stated your system did not state there was a pending payment for a period of time (which it has normally been done in the past with NO PROBLEM). And if the investigate would have been done properly before drafting this letter dated January there would have also been another compose letter sent over with proof of the same thing occurred on Dec 31st of which I uploaded documentation to provide my point of what occurred on Dec 1st. Thirdly, if the any of the conversations between myself and SEVERAL other associates one of team members of PennyMac not all myself called in about experiencing the same issue, which leads me to believe PennyMac did NOT monitor any calls. Again, I felt comfortable with the conversation I had with the gentlemen from the escalation dept., but from the letter received it's clear that PennyMac does not want to be held ACCOUNTABLE for an obvious problem with their online system which is disturbing to me. NOT ONLY has this caused me a lot of stress but the DISRESPECT I experienceed from PennyMAC team members.
I would like to have this posted for other customers with or without mortgage loans with PennyMac. This is entire situation and the time spent on this PennyMac still fell to realize that there was a problem with their system on both Dec 1st and Dec 31st. It would have been better to offer an apology for what has occurred and at least check your system and your communication from there staff members before sending a letter with incorrect information and even to the point of documenting something incorrectly in order to NOT be recognized that something went wrong on Dec 1st. There was NEVER a payment made on Dec 2nd most definitely incorrect.
Lastly for a mortgage company that would rather try to place blame on a customer and clearly NOT having there facts correct need to be recognized by others. This company that you're supposed to rely on for accuracy and throughout this whole ordeal did even respond to me properly.
Regards,
******** R****Initial Complaint
Date:12/23/2024
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.
We pay this mortgage company monthly for our escrow account. They have failed to pay progressive the $1474.84 that we pay to pennymac for them to issue a check to progressive. Our home insurance is now late and we’ve gotten multiple runaround answers from pennymac with no resolution. We have dealt with this for 3 days now. A 45 day notice was sent to pennymac from progressive stating that this amount is due. Again pennymac has failed to provide progressive with the check. We have no idea where this $1400.00 is of our money and pennymac cannot and will not give us an answer. Our insurance has now lapsed with no answer from pennymac. We are at our wits end. We have all documentation and recordings from our dealings with pennymac. We cannot get an answer from pennymac on where our escrow money is. They have apparently sent checks to the wrong addresses claiming they overnighted a check but will not provide us with a check number or check number. Our next step is small claims court because pennymac will not give us any answers.Business Response
Date: 12/23/2024
Thank you for bringing this matter to our attention and allowing PennyMac Loan Services, LLC (“PennyMac”)
the opportunity to review and respond to T*** ****** 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 T*** ****** 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.Customer Answer
Date: 12/29/2024
Better Business Bureau:
I have reviewed the response made by the business in reference to complaint ID 22715909, and find that this resolution is satisfactory to me.
Regards,
T*** ******Initial Complaint
Date:12/19/2024
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.
Unauthorized Credit Inquiry and Misleading Information by PennyMac
Complaint Description:
I am writing to formally file a complaint against PennyMac for unauthorized credit inquiry and providing misleading information regarding my loan application process.
I recently contacted PennyMac to discuss a potential application related to my existing loan. During our conversation, I was verbally assured that my prior forbearance request would not affect the application or loan process. Based on this assurance, I agreed to proceed verbally. However, PennyMac ran a hard inquiry on my credit without my explicit consent or written authorization, resulting in a new mark on my credit report and a decrease in my credit score.
At no point did I sign any documents or provide formal approval for a credit inquiry. My decision to engage in the discussion was contingent on their assurance that the prior forbearance would have no impact. This misleading information influenced my decision, and the resulting credit inquiry has caused unnecessary harm to my credit profile.
I am requesting that PennyMac take immediate action to:
1. Remove the unauthorized hard inquiry from my credit report.
2. Provide an explanation and documentation of their process, including proof of authorization for the credit inquiry.
This situation has caused undue stress and negatively impacted my financial standing. I look forward to your assistance in resolving this matter promptly.
Desired Resolution:
I request the removal of the hard inquiry from my credit report and a written acknowledgment from PennyMac to ensure such practices are corrected.Business Response
Date: 12/19/2024
Thank you for bringing this matter to our attention and allowing PennyMac Loan Services, LLC (“PennyMac”)
the opportunity to review and respond to Ms. C******'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. C****** 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.Customer Answer
Date: 12/19/2024
Complaint: 22708267
I am rejecting this response because:
I want your company to eliminate the mark on my credit. Since the lady lie to me.
Regards,
***** C******Business Response
Date: 12/19/2024
Thank you for the additional information, and
for speaking with our Priority Complaint Specialist on December 19, 2024. 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: 12/26/2024
I never receive a resolution from PENNYMAC Loan
Initial Complaint
Date:12/19/2024
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.
So I was trying to apply for a streamline loan with loan adviser named layal Zoueihed. She gave me the run around for 5 months. I was first approved for 5.6% well since they took so long dragging it on my application expired so they had to renew my application to lock me in at a higher rate. I was very upset then they told me a streamline I only have to pay 100 dollars and that’s it. First they tried getting me to pay 8700 down then 5700. Finally I gave up and went elsewhere. Layal should be fired she’s terrible at her job and all she’s doing is pushing ppl away. She doesn’t know how to do her job correctly. I would not hear from her for a month until I would have to reach out lots of times before maybe I would get a chance to hear back. Pennymac is a joke and I’ll never do business with them again.Business Response
Date: 12/19/2024
Thank you for bringing this matter to our attention and allowing
PennyMac Loan Services, LLC (“PennyMac”) the opportunity to review and
respond to Mr. E*****'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. E***** 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:12/17/2024
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.
Every year since pennymac purchased my loan my mortgage increase Every year. I have overages in my escrow at the end of the year. Pennymac sends me the overages and then do an escrow analysis then say you are short. I have found over 1800 other customers of pennymac with the same issues. They need to be hand accountableBusiness Response
Date: 12/17/2024
Thank you for bringing this matter to our attention and allowing PennyMac Loan Services, LLC (“PennyMac”)
the opportunity to review and respond to Ms. M******'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. M****** 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:12/16/2024
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.
Penny mac charged me for PMI 3x this month as opposed to one. I did some upgrade to my house which raised the value of my house, as a result that qualifies my property to have the PMI removed. In the past, when I had to pay for PMI, PennyMac was great at only charging me once a month for it, the second I qualified to have it remove they decided to triple the price on me my last month of having PMI. I provided a copy of loan activity where you guys can see my escrow was increased on Dec 12 and 13th as loan reallocation for the same amount as the PMI
Another thing PennyMac did was incorrectly report my balance to the credit bureaus. As you can see on the loan activity page, my balance on Dec 5th was 229,484 it went down 516 from the previous month, but on my credit report it showed my mortgage balance is 233,787. They said my balance went up 3787 when in reality it went down by 516.Business Response
Date: 12/16/2024
Thank you for bringing this matter to our attention and allowing PennyMac Loan Services, LLC (“PennyMac”)
the opportunity to review and respond to Ms. C********' 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. C******** 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.Customer Answer
Date: 12/17/2024
Complaint: 22687855
I am rejecting this response because: words mean nothing to me, action does. I'm not looking for a letter or an explanation. A letter explaining why I was charged PMI three times in one month isn't what I'm looking for, the removal of the additional 2 PMIs to bring my escrow to the correct amount is what I need. A letter explaining why PennyMac reported to all 3 credit bureaus that my mortgage principal went up nearly 3800 when in fact it didn't won't do me any good. Sending the correct mortgage principal to the credit bureau showing a reduction of 516, is what I need. So instead of wasting time to write me how you made a mistake, I need you to actually use that time to take actions to fix those mistakes.
Regards,
****** C********Business Response
Date: 12/19/2024
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 December 19, 2024, and provided a voicemail for a callback. We encourage you to
make contact to further discuss, at your earliest convenience.Initial Complaint
Date:12/16/2024
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.
1. Beginning in May 2021 my mortgage payment was $1,215.54. In June of 2022 it was increased to $1,220.04 without reason on notification (see Attachments Pennymac 01,02,03)
2. May 2023 my mortgage was raised again from $1,220.04 to $1,286.38 in June of 2023 due to Pennymac paying 2 home owners insurance premiums. Pennymac allowed that the old policy company refunded my account but did Not lower my payment back to the original amount after repeated requests. (See attachment’s Pennymac 1, 2)
3. My mortgage payment was raised again in 2024 based on an escrow analysis from $1,286.38 in May to $1889.34. This was due to my mistake in my Horry county tax assessment, I thought my residency was complete but the application was incomplete. This created an escrow deficit of $3347. Pennymac allowed a 30 month deceased payment of $1547.41. Meanwhile I completed the tax forms and received a refund. I paid $3000 directly to escrow. I requested a new escrow analysis. My mortgage payment was then decreased to $1,353.11 in September. Based on the $3000 plus the increased payments made, my payment should be $1,215.14. I requested another escrow analysis and payment has Not changed!
Please help!Business Response
Date: 12/16/2024
Thank you for bringing this matter to our attention and allowing
PennyMac Loan Services, LLC (“PennyMac”) the opportunity to review and
respond to Ms. T******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. T***** 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: 12/16/2024
Complaint: 22687482
I am rejecting this response because:I have been trying to work with them for two years! If they didn’t do anything wrong, why do they need 15 days to respond? I received yet another escrow analysis today in their message center, it resolves nothing! Please help!
Regards,
***** T*****Business Response
Date: 12/17/2024
A
response letter was mailed to you on December 16, 2024. If you have any questions or concerns related
to this letter, please contact our Priority Complaint Specialist Victoria Gonzalez, at
(888) 381-4129, extension 32440, Monday through Friday, 8:00 AM to 5:00 PM PT.Customer Answer
Date: 12/18/2024
Complaint: 22687482
I am rejecting this response because:Have Not received correspondence indicated.
received another escrow analysis (see attached). None of the over payment issues are addressed. The escrow analysis is based on faulty information!
Regards,
***** T*****Initial Complaint
Date:12/12/2024
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 was reported to the credit bureau for a late payment and it has ruined my credit. This is a new loan. I had set up autopay and it was obviously unsuccessful. I received no phone calls from a customer service representative informing me of a late payment. I received no paper statements informing of a late payment. The first notification I received was from credit karma telling me my credit score has dropped because of a late payment. I immediately log on to my account to see what’s going on and it go to make a payment to see that I am late for November. I immediately paid including the late fee. I called them to ask why it was reported and why did the autopay not work and why I wasn’t contacted. They go on to say there’s no record of an autopay set up. They also say they’ve tried calling me and I didn’t answer, but I have answered most of their calls and have a voicemail saved from one that I was unable to answer. The calls I have received from Pennymac were from an automated system and it says nothing about my loan being late. It says they need more information to better help me. I would have immediately made a payment if a customer service representative had of called me or I had of received mail indicating I was late. I am no surprised at the lack of communication as we had the most difficult time during our loan process with loan agents not doing their jobs/responding to calls etc. so I’m not surprised this happened. When I tried to get this resolved they were extremely rude. This is very upsetting bc I would have paid in time but I thought my account was on autopay and since I had received no notifications I assumed all was well. I have worked hard to keep my credit in good standing and to see it tank because of a late payment is so disheartening. I will be refinancing with a different lender when I am able to and I have also disputed with the credit bureau. I also tried to set up auto pay again and was unable to, but will continue to try to set up auto pay.Business Response
Date: 12/12/2024
Thank you for bringing this matter to our attention and allowing
PennyMac Loan Services, LLC (“PennyMac”) the opportunity to review and
respond to Ms. 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 Ms. 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:12/10/2024
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 writing to file a formal complaint against PennyMac regarding ongoing issues with my mortgage modification process & their lack of communication.
I began working with Ms. G*** ******* on my mortgage modification request, and after our initial communications, I have been unable to reach her or anyone else from PennyMac despite several attempts. A new modification plan was implemented, and I requested that the payment amount be reviewed due to my husband’s recent unemployment, which I had explained to Ms. E****** in November. She assured me that she would escalate the matter to ensure it was handled in a timely manner. Unfortunately, I have yet to receive any follow-up from her or anyone else, which is deeply concerning.
While the modification plan is active, I have been threatened with foreclosure if the payment is not received. This situation has caused significant distress, as I fear losing my home. Additionally, negative remarks have been reported on my credit, showing 180-day delinquencies, which are unlawful under the CARES Act, as it prohibits negative credit reporting during forbearance or modification requests under certain conditions. These erroneous reports are severely damaging my credit and worsening our already difficult financial situation.
Despite numerous attempts to resolve these issues directly with PennyMac, I have not received a timely response or resolution. The lack of communication, combined with the looming risk of foreclosure and the wrongful credit reporting, has put my family under significant stress. I fear the potential long-term consequences of these unresolved issues.
I am urgently requesting your assistance in addressing this matter. I seek that PennyMac review my modification plan payment, correct the wrongful credit reporting, and provide a resolution to this issue. I have exhausted all efforts to work with the company and need your help to ensure my rights are upheld.
Your attention to this matter is greatly appreciated.Business Response
Date: 12/11/2024
Thank you for bringing this matter to our attention and allowing PennyMac Loan Services, LLC (“PennyMac”)
the opportunity to review and respond to Mrs. L***************' 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 Mrs. L*************** 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.Customer Answer
Date: 12/15/2024
Complaint: 22669820
I am rejecting this response because: I am rejecting this response because it feels like a generic reply meant to stall rather than address the ongoing issues I have been raising for months. Despite my repeated calls and emails regarding this matter, my concerns remain unresolved, and I am facing the very real possibility of foreclosure.
While I was approved for a loan modification, the new payment amount is still too high given my current financial situation. I was told there were additional options available to me, but I have no idea what those options are because no one has responded with any concrete solutions. The lack of follow-up and clear communication is incredibly frustrating and is leaving me uncertain about how to move forward.
The inconsistency in the information I’ve received from PennyMac is deeply troubling. One minute I am told that assistance is available, and the next, I am told that no options exist. This constant back-and-forth is not only misleading but is also adding significant stress to my already difficult financial situation.
I am urgently seeking a clear and actionable solution to prevent the foreclosure of my home. The lack of follow-through and clarity is unacceptable, and I am left feeling confused and unsupported. It is critical that I receive a consistent and effective plan to resolve this issue.
I expect a timely and specific response outlining the next steps to address this matter.
Regards,
S****** *******Business Response
Date: 12/17/2024
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 December 17, 2024, and provided a voicemail for a callback. We encourage you to
make contact to further discuss, at your earliest convenience.Customer Answer
Date: 12/17/2024
Complaint: 22669820
I am rejecting this response because the calls are being made during my working hours. When I answered today, I was prompted to select from multiple options. I followed the instructions but was then placed in a queue for a representative. After waiting for approximately ten minutes, I ended the call. If PennyMac intends to contact me, it should be with a live agent immediately, rather than an automated system. This process is inefficient and unacceptable.
I need assistance but continue to receive unclear responses. I do not want to lose my home, and I require solutions that are aligned with my financial situation. Please have someone contact me who has the authority to provide the necessary options to assist me.
Regards,
S****** *******Initial Complaint
Date:12/10/2024
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 selling my house on the 27th of December, I have contacted PENNYMAC for a payoff notice for December 31st for my closing attorney, all three time the dates are for the 10th 15th and 17th , I’ve been promised the right one would be emailed to me and nothing has happened, then I have to tell the same people about why I’m behind due to medical issues, I’m just trying to sell my house and get getting the run around, also I have my payments already scheduled and have to remind the customer service to look at his screen , plus I can’t understand him due to his foreign accent “ no disrespect “ I’ve been with PENNYMAC 10 yearsBusiness Response
Date: 12/11/2024
Thank you for bringing this matter to our attention and allowing PennyMac Loan Services, LLC (“PennyMac”)
the opportunity to review and respond to Mr. M*******'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. M******* 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.
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