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

  6101 Condor Dr Ste 200 Moorpark, CA 93021-2602

  
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  PENNYMAC

  55 Merchant Street, Suite 1430 Honolulu, HI 96813

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  PennyMac Loan Services, LLC

  14800 Trinity Blvd FORT WORTH, TX 76155

  
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  Penny Mac Solutions

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

  

Review Details

• Review fromJulie D

  Date: 09/10/2022

  1 star
  Feel deceived regarding our home loan modification. We owed 238,593. We took a hit during COVID being that my husband and I are both public workers. The FORBEARANCE PLAN sounded shady. I do not see how raising someone’s monthly payments is helping in any way. We opted for a re modification. They extended it out over thirty years. After less than a year we decided to sell our home. One month of prepping and getting an offer only to be told one week prior to closing we owe Penny Mac an additional 83 grand. What?! You did not help. You made us owe you more. This is not acceptable to do to people. Instead of a balance of 238,593 we would owe that plus 83,000. Grand total 321, 593!! When we originally bought we paid 308,000. No notices besides the fat packet of papers to stumble through. When I called I was told multiple times that’s not her department nor could she transfer me. Penny mac needs to be held liable for these unfortunate transactions. Better business bureau wake up. Do your investigation on this company.
  J. *****

• Review fromJacob G

  Date: 09/06/2022

  1 star
  Awful customer service and communication! If zero stars was an option, I would rate them at zero. I am working thru an assumption and have had next to zero communication with my loan contact. I call and email daily asking for updates only to receive an email once every 3 weeks. And that email that I receive every 3 weeks isn't even useful and could have been resolved within minutes if the pennymac contact would answer their phone or email. This assumption process has taken way too long with zero communication. Every thing on my end should make this super simple but without any communication I can't get this process to end. Its being prolonged for no reason at all other than there is zero communication and interest in closing out my process. I have contacted my loan contacts supervisor as well now and am still not getting any contact back! How can anything be completed without any contact to the customer? I hear horror stories of people refinancing to get away from Pennymac only to have their loan sold back to them and deal with all the issues again. I have solid credit, finances, career and communication so I am not the issue with closing this assumption out. TERRIBLE COMMUNICATION AND RESPONSES. This needs to be improved and is a warning to anybody that needs to deal with them in the future.

• Review fromChristopher E

  Date: 09/06/2022

  1 star
  Wish I could rate them zero stars. Absolutely horrible company. I wish my initial mortgage company didn’t sell my mortgage to these idiots. For the second year in a row, I received an email saying an escrow analysis was completed resulting in a payment change. Last year they included multiple insurance policies that I did not have and wanted me to pay an escrow shortage that did not exist. They claimed the shortage was due to the fact my mortgage starts in October and my property taxes are owed in October. They wanted me to pay them double what my property taxes were plus what they called a reserve payment. This was going to more than double my mortgage payments. I fought them on it last year they removed the additional insurance policies and agreed to remove the reserve and shortage. Once again, this year I am having to fight them on the reserve and shortage amounts they are trying to collect beyond what is actually owed. I would not recommend them to anyone.

• Review fromChristine H

  Date: 08/24/2022

  1 star
  Absolutely terrible customer service. Very suspicious of the high ratings and if any of the high ratings are 'real customers'.
  Trying in good faith to pay your mortgage is apparently not acceptable. Calling for help on their non-functional website results in snarky comments re: 'do you know how to clear a web browser' .. if a website doesn't work what's the browser got to do with it?

• Review fromDavid S

  Date: 08/16/2022

  1 star
  PennyMac reviews
  Don’t do it, my first impression was actually pretty good after my first financial experience with them. However, for a refinance was just a disaster. Four months ago I did the application for a veterans refinance so we could finish renovating our house. I talked to A*** and he said that it wasn’t a problem and that my credit was good. So, we proceeded with the whole refinance scheme. I was honest and upfront with everything including with telling them that I was in the middle of finishing up the roof, siding and building one bathroom and all of the conversation have been recorded according to PennyMac. Two months later PennyMac had a home appraisal from the VA which estimated at $190,000. We only wanted to refinance for $165,000. So we should have been good for the loan right? Wrong, after we completed the new roof, siding and a 600 square foot addition to the house we where deigned the loan because we didn’t complete the second bathroom which we needed to loan for in the first place. We have been jumping through all the hoops trying to get this loan from PennyMac for four months and now we are in the hole $20,000 due to trying to get this done on there time frame. Long story short, the VA approved the loan but PennyMac would not hold up there part of the deal. As a veteran to all other veterans, call your VA first about your veteran rights. They are extremely nice and helpful and don’t be alarmed when they tell you to go to another lender. Follow there advice.

• Review fromNicholas S

  Date: 08/08/2022

  1 star
  On their website PennyMac promises to show you interest rates for mortgage loans. You fill out information, and then they never show you any rates. During the process, they ask you whether you want to be contacted about the loan. Thinking I would receive the information I needed on the website just like it promised, I selected NO, do not contact me. I instantly received a call from PennyMac, and another a couple hours later. The caller could not explain why they were calling in spite of my selection. Shady!!
  If Penny Mac were legit, they wouldn't resort to these tactics. How irritating.

• Review fromCynthia M

  Date: 08/05/2022

  5 stars
  They all were so helpful especially N****. I would highly recommend using Pennymac to obtain a mortgage.

• Review fromEric W

  Date: 08/04/2022

  1 star
  RUN AWAY FROM THIS UNSERIOUS COMPANY!! Our story briefly, solid credit, 30% down, good assets - and prior PennyMac customers with a mortgage paid in full! We were immediately approved for a mortgage.
  PennyMac then became non-communicative, and unbeknownst to me, they disputed the appraisal of the property, done by a company THEY hired, and PennyMac had used in the past.
  Approaching our closing date, I repeatedly checked the status of our loan and all I was told was "It's under review," and "Should be no problem." Then 2 DAYS before closing (at 4pm by the way) - I was told PennyMac couldn't agree on the appraisal value, so I would not get the mortgage and there was no amount of money I could put down to make the loan work! I could have repaired the deal early on, if PennyMac had just told me what was going on.
  Because of PennyMac's unserious and lazy approach to business timelines, the DAY BEFORE CLOSING we had to embarrassingly go back both the seller of our new home, and the buyer of our present home for extensions - or we would have been HOMELESS DUE TO PENNYMAC!
  THIS RIDICULOUS COMPANY IS POPULATED WITH UNSERIOUS INDIVIDUALS WHO DO NOT CARE ABOUT THEIR JOBS OR THEIR CUSTOMERS! RUN!!! Go to a local bank by the way - We did and got the house in 2 weeks and for a lower interest rate!

• Review fromTyler P

  Date: 08/02/2022

  1 star
  Penny Mac messed up our escrow account so bad that our loan went up 42% (I am not exaggerating). They did this without a call or even a written notice. When they were confronted about it they said you could log in and check it out. This increase was over $1,000 per month. We have taken up for the escrow shortfall last year and the new escrow rate this year. To have a loan go up 42% because they set up our escrow wrong is agregious.
  When I asked to talk to the person responsible for the escrow assessment it was not allowed. I wanted to find out what happened in order to make sure it would not happen to us again next year. We will see what happens.
  We are on a fixed 30 year mortgage and are now so glad we did not max out our borrowing capacity.
  Penny Mac was unprofessional. They do not feel a 42% increase is a problem. We would like to encourage Penny Mac to focus on taking car of their customers. Customer service should continue to be a priority even after the paperwork is signed.
  I would strongly encourage people to seek a company that values their customers. The company is out of touch with their customers.

• Review fromRi K

  Date: 07/29/2022

  1 star
  Incompetent liars is all you'll deal with at Pennymac. Almost 4 months since I submitted a modification application. On 6/29 R****** said it was approved then a little later said it wasn't approved oh and he went through all the details of the plan. Anthony at Pennymac claims R****** never said that it was approved and didn't go over any details of the approved plan but yet 3 Lawyers, 2 separate representatives from 2 different State agencies and 1 housing counselor heard the same thing I did from R******. Anthony sent me a packet full of lies which can and will be proved, there's a reason for informed delivery from Usps . Depending on the day they claim letters were mailed directly to you then it's they were mailed to your Attorney. My Attorney has never received 1 letter from Pennymac. Not 1 letter in my Pennymac online account.