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Business Profile

Mortgage Lenders

PENNYMAC
BBB accredited business seal
BBB Accredited BusinessA+Rated by BBB

Reviews

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

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PENNYMAC has 17 locations, listed below.

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    Customer Review Ratings

    3.63

    Average of 663 Customer Reviews

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    Review Details

    • Brittany V

      Date: 01/03/2023

      Awful company.
      We just bought our first home 08/2022 as an active duty family. We were double charged a house payment, one was taken out on 12/30/2022 and the next was 01/01/2023. Between inflation and military pay not being what it should, we can’t afford an error like this.
      Trying to get someone on the phone for ANY question or concern is absolute insanity. The phone system hangs up on you and sends you back to the main menu. It is now 01/03/2022 and have not been able to reach anyone. They only give you the option to call their line, no email or chat services.
      Absolutely going to try and refinance and get away from this company as soon as humanly possible.

    • Charles S

      Date: 01/01/2023

      I wish this app had a zero star option.
      I would very much so like to know why my mortgage payment shot up 218$ a month all of a sudden. Some bs crap tastic mail came to me from your company and it just seems like fodder. Be honest, what’s the real answer! Your company has been nothing but garbage to me and we have NEVER missed a payment let alone late after all these years. And this is the SECOND time your company has tried to sneaky back door us with made up excuses for increasing “fees.” The last time you sent us a letter that stated we needed to increase the amount our home was insured for and if we didn’t respond within 90 days you were going to automatically bill us for the difference for a second insurance policy to cover the “gap” and the amount extra you were going to charges us was absurd! I’m lucky my wife thoroughly read that letter and the fact we were able to get an increase insured amount through our own insurance company EVEN though the annual policy adjustment period for them was closed. And it only cost us 5$ more a month to include the new required amount! Not the hundreds of dollars a month extra you were going to charge.
      The second our inflated market crashes and interest rates go back to normal I will be refinancing our home with a new company, anyone has to be better than your company.
      Your company has become my biggest regret. I will certainly never refer you to anyone else. I wish I was smarter so I could sue you for all the bs your company tries to pull. Your company is what’s wrong with this country.

    • Caitlin G

      Date: 12/30/2022

      Terrible. Awful customer service and they do not know what they are doing. I did a refi with them and based my decision on on rate and monthly payment. Turns out they completely forgot to calculate the city property tax which was realized almost a year later. Now I’m stuck with $500/mo more payment to get caught up. Then next year they didn’t pay the tax bill in full. I called them for a week straight to get it resolved and every time they told me it is pending. This bill is due today. Zero help just telling me I’ll need to wait.

    • David B.

      Date: 12/22/2022

      Unbelievably bad customer service. I'm a Military veteran and have been around for 62 years and I thought I'd seen it all. Pennymac provided me with a forbearance on my mortgage for 3 months during Hurricane Ian. My house flooded and I spent $30,000 in repair work so it was a relief to be able to hold off on mortgage payments. When I first spoke with a rep about the forbearance it was my understanding that I could repay the missed payments over time. After the 3 months, I called to find out what my payments would be and the term. Basically what I got was a debt collection spiel and the runaround and someone was supposed to call me back. Never happened so I called again after 3 weeks and same collection spiel and I was told I needed to pay all 3 months back immediately. I asked to pay it over 6 months which would be a payment and a half each month and was told no. WHAY ON EARTH WOULD I HAVE A FORBEARANCE IF I HAD TO PAY IT BACK RIGHT AWAY. THAT DOESN'T HELP AT ALL. They finally presented me with a 3 month option which I accepted but still puts me in a tough spot to come up with double payments each months. Damn heartless!

    • Carmen K

      Date: 12/21/2022

      Straight-up liars and cold-blooded mercenaries; if they could, these people would be working for the organization known as the Union as "Repo Men" repossessing human organs.

    • Mary V

      Date: 12/17/2022

      Absolute nightmare. Different information everytime you call. Not one representative has been helpful. No one will call back, not even managers. Requested multiple times to have recorded calls reviewed due to being given false information. No one will help. 0 stars. Terrible experience.

    • Hillary Y

      Date: 12/15/2022

      I called for a quote of purchase loan In Washington State, it took me 2 hours on the phone for nothing. I was transferred to 6 people, and they asked all the same questions, and they did not offer me the gross rate for the purchase even I was told I was qualified... Then he said he would like to process, and put me on wait line for 10 minutes... I had to hang up. It is Terrible, terrible and terrible company !!!
      So disappointed !!! Wasted my time totally !

    • Bryce M

      Date: 12/07/2022

      There are tons of predatory advertising after my loan was sold to them. I am barely a year into my 30 year mortgage and with the huge increase in interest rates I am getting weekly mailings and calls trying to get me to refinance. The mailings all claim it would save money doing the refinance, although after the math it would more than double my interest after increased interest rates and extra fees. They also send out constant mailings trying to get loan warranty through them.

    • Emir O

      Date: 11/19/2022

      I never seen a more lieing, untrustworthy, unprofessional, and no communication Assumption process in my life. I have done 5 loans with PennyMac and this is the worst process I have ever been through with any mortgage company. Which shows me they do not care to help the client or want to help finalize the process.

    • Sabrina A

      Date: 11/19/2022

      Terrible company to work with. I got pre approved for an FHA loan. They told me my credit disputes on my report would not be an issue at closing. I’m 2 weeks away from closing and they told me that I cannot close till my report is fixed. Which is impossible to do under two weeks. You cannot get ahold of the same specialist you work with when calling. They also do not communicate with your realtor. You have to send all the documents yourself as if you are the middle man between to lender and your realtor. The two employees I initially started with no longer worked there and I only found out by calling the company both times because no one responded to me via email. It’s stressful being under contract but even more stressful when your lender does not even communicate with you that you won’t be able to close and wasting everyone’s time. Such a poor business to work with in all aspects.

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