Pennymac

Shady used car salesman ! They lie and will change all costs prior to close ! Avoid at all cost!
Feb 3rd, 2024

They dont make online payments easy especially when your mortgage was sold to them
Dec 17th, 2023

Good luck getting through this automated phone system. Once I finally did get someone on the line they were demanding a $1.95 fee for them to send a $100 to our home. All we had was a question regarding our loan, and when we said we weren't interested in this offer they hung up the phone.
Nov 15th, 2023

The most unprofessional company I have ever dealt with. Every day they ask for some new proof of income, bank statements, and proof of zero balance. I was asked to show that a credit card with a $10,000 limit that had a $218 charge was paid off. If $218 is going to keep you from funding my $327,000 loan with 21% down we have bigger issues than a home loan to discuss. I only used PennyMac because they waived some fees. I would gladly pay those fees to someone else and not deal with the stress of the incompetent people at PennyMac. Do not use this company for your loan and in the event your current loan gets sold to them, refinance with someone else. You can thank me later. I have been told several times my loan won't be funded then asked to pay more fees and magically it's moving along. I have a conditional approval letter. Now a week before closing, underwriting is asking for a comment to be removed on a closed zero balance account on my credit report. Otherwise, they won't fund my loan. Causing me to lose my earnest money. I am still waiting to hear from someone in upper management. The local managers are a joke and do not return calls or emails.
Jul 3rd, 2022

For the most part this a really great mortgage company. They have always been easy to work with in almost every area. When I refinanced my house the process was super easy and was actually able to close a day or two sooner than expected. I would have gave them four maybe even five stars if I could have been able to set up biweekly payments with them, however due to their policy they make it difficult for customers to set up biweekly payments. They require prepayment of the current month plus the next month before you can set this payment system up. Do not think you will do this on your own either because they do not accept partial payments. They will put partial payments in an expense account for a few days if the rest is not received within xx amount of days they apply the partial payment to principal. Oh waitthe partial payment applied to principal doesnt put you ahead on payments, so they can and will show you late. Learned this before it happened thank goodness. In my opinion they are one of the better big mortgage companies but they are still out for themselves. They have every advantage in place for PennyMac rather than the customer.
Nov 4th, 2021