Reviews

This profile includes reviews for PENNYMAC's headquarters and its corporate-owned locations. To view all corporate locations, see Find Local Branches.

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PENNYMAC has 17 locations, listed below.

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  PENNYMAC

  3043 Townsgate Rd Ste 200 Westlake Village, CA 91361-3027

  
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  PennyMac Loan Services, LLC

  14800 Trinity Blvd FORT WORTH, TX 76155

  
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  PennyMac Loan Services LLC

  9009 Corporate Lake Dr STE 100 Tampa, FL 33634-2367

  
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  Penny Mac Solutions

  7900 W 78th St Ste 360 Suite 360 Edina, MN 55439-2575

  
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  PennyMac Loan Services LLC

  500 Ala Moana Blvd Ste 7400 Ofc 460 Honolulu, HI 96813-4902

  

Review Details

• Review fromDanielle J

  Date: 03/29/2023

  1 star
  PennyMac has the absolute worst customer service. They are so unhelpful. They are rude and condescending. I didn't even choose PennyMac as my mortgage company. I was forced into it when my loan was sold to them. They report millions of dollars in profit every single year and yet they won't give an inch when it comes to waving any kind of fees. It's taking me months to complete a process that should have taken only a couple of weeks because of all of the misinformation I have been given through PennyMacs employees. If you can avoid this company, I highly suggest you do so.

• Review fromAJ A

  Date: 03/25/2023

  2 stars
  I was unaware my mortgage increased by $500 in Aug 2022. I made my usual monthly mortgage but was unaware of increase. When PM calls to say hey where's your payment, I like, I paid! They told me i made a partial payment and then shared my county taxes increased and that's why my mortgage increased. I asked PM why I wasn't notified and PM stated they sent me a letter via mail in June 2022. I never received. Not their fault, could be my lazy mail carrier, however, could another form of communication been provided? Like the constant emails and or a phone call?
  Fast forward to Nov 2022, I needed to make my mortgage payment into 2 installments. Customer services rep said ok and took payment. When I called to make second payment via phone, no issue until following month. My first payment was applied to escrow bc escrow was low/negative. I did not know until (until December) PM calls to say hey, where's your payment? Novembers transaction was listed as a partial although I made payment and covered late fee bc of two installments. PM apologized and removed from escrow and applied my Nov payment in December (smh...I dont like being late on my payments).
  Now February 2023 same thing happens again! But now I'm educated by PM customer service rep that you cannot make 2 partial payments, but that partial payment would sit in "floating bank acct." until balance is paid. I agreed and when I made my 2nd installment to pay my full balance for February, I articulated that I did not want the same thing to reoccur to me that happened in Nov. Customer Service rep assured me it would not and that my February payment was paid in full. March 2023 I get the same call and I set it off! PM reported me to credit bureau for a late payment and my score dropped 40 pts. PM rectified and reversed transaction and notified credit bureau of "mistake." I did not recoup my full 40 pts from PM lack of communication, but I did get 37 points added back to overall good to excellent rating.

• Review fromStephanie O

  Date: 03/21/2023

  1 star
  PennyMac was not out orginal loan holder but it was transferred over and its been hell ever since. STAY AWAY!! BUYER BEWARE. Customer service suck. Our mortgage payment has changed 3 times now. Started at $1,375 in 2021 & not in 2023 it’s $2,197 after a couple increases. This is not okay. After seeing all these reviews we need to report this bank for fraud. Not okay.

• Review fromAustin H

  Date: 03/16/2023

  1 star
  Where to start....
  they are great at taking your money that's about it.
  trying to get help is almost impossible I have called and been on the phone with them for 20+ hours with little to no help.
  I don't think what i am asking for is to hard which is,
  Unfortunately, my house and I took a direct hit from Hurricane IAN. I lost the house due to the hurricane and flooding. I received a flood payout that was way too low and I am unable to rebuild/repair it, so, after talking to Penny Mac and sending them the insurance check to apply to the principal of the loan, so I can sell my house and try to restart my life they have since denied me and said that I have to rebuild my house which makes no sense whatsoever and really, no one can tell me why.
  I just need the insurance check to apply to the principal of the loan so i can sell my home and payoff the rest of the loan that's it!
  Instead they are holding me hostage and can not move forward with anything.
  Furthermore I have had a buyer for my home since December and had to pay 3 more months of HOA and also Pennymac sent money to flood & home owners insurance which both dropped me due to the hurricane.
  so who did they send the money to?

• Review fromJeff G

  Date: 03/13/2023

  1 star
  The worst mortgage company I have ever dealt with. Paid escrow late refused to cover penalty. Buyer beware avoid at all cost. Customer service is terrible most agents have no idea what they are talking about.

• Review fromFulvia M

  Date: 03/03/2023

  1 star
  All of you who had issue with PennyMac Loans should gather all pertinent information and file a fraud complaint with the Federal Trade Commission asap.

• Review fromGlenda G

  Date: 03/02/2023

  1 star
  After the sell of a property, there was an error on the part of Pennymac, due to their processes and procedures, that has now left me 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".

• Review fromDianne T

  Date: 03/01/2023

  1 star
  We recently applied for a refinance of our loan with PennyMac. We supplied all the information that they requested in a quick and accurate timely manner. By the middle of the application, the representative asked us questions about our student loans. We explained that our student loans were on hold. He wanted us to project how much we would have to pay on our student loans once they were removed from Loan Forgiveness. We provide the information but he wanted more information. We were told that our interest rate would now go up to 7.25%. After a careful discuss, we decided to cancel the application. The representative continued to call to get us to reconsider. but we continued to say no. On February 23, 2023, we received a letter from PennyMac for a payoff disclosure. We were shocked, so we called and asked why we were receiving this letter because we had cancelled the application.We were told by the new representative to disregard the letter and she would contact the Mac-team. Today, to my shock , I received an email from the company stating that we were denied approval to refinance because of credit denial. How can you deny an application if the application is closed. This mortgage company is awful . I will call them to get them to explain this stupid email. If I do not get satisfaction from them, then I will file a complaint. This is a horrible mortgage company.

• Review fromChris D

  Date: 02/26/2023

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

• Review fromAlexander C

  Date: 02/08/2023

  1 star
  Last week (Thursday the 2nd of February 2023) I was promised a refund as my mortgage was withdrawn 2 times. And was told by Joy that I would get a refund within 2-3 business days. It is now in the 4th business day. If myself, Alexander Cole. Or my wife, Morgan Cole are not contacted by the end of business today 2/8/2023, we will be contacting the attorney general. This is unacceptable and outrageous. Not everyone has money sitting around for their mortgage to come out twice.
  Alexander Cole
  I expect to be contacted.