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PennyMac Home Equity Loans Review

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PennyMac is a national mortgage lender headquartered in Westlake Village, California and founded in 2008. It is one of the top rated companies in its industry, with over 4 million lifetime customers. PennyMac offers a variety of mortgage products, including home equity loans.
 
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How is PennyMac rated?

Breakdown

Overall Rating: 0 / 5 (N/A)

PennyMac offers a wide range of home equity products and its strong reputation as the third largest mortgage lender in the United States gets high marks from us. The company's lack of specifics in regards to fees and rates on its home equity products as well as its multiple CFPB complaints keep us from giving it a perfect score.

PennyMac Features

Lender Type
Online Lender
Loan Types Available
Home Equity Loan
Home Equity Line of Credit
Cash-out Refinance

PennyMac Qualifications

Loan Qualifications
Verification of Income
Proof of Employment
Minimum Home Equity
70%

PennyMac Customer Experience

Total Consumer Financial Protection Bureau Complaints
1,214
Site Features & Technology
Home Equity Calculator
Trust Pilot Rating
3.1 out of 5
BBB Rating
A+
Date Collected
2022-10-14

Contact & Additional Information

Homepage URL
https://www.pennymac.com/
Company Phone
(866) 549-3583
Headquarters Address
3043 Townsgate Rd Ste 200, Westlake Village, CA, 91361
Year Founded
2008

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Customer Comments & Reviews

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Olivia B
11/6/2022
Penny Mac quoted a low rate I submitted all of my documentation and the mortgage person left or was fired. I’m the process the rates went up I called everyday for 2 weeks but they strategically called after my rate lock was over and would not honor the rate given and said because of the time lapse I had to start again and take a much higher rate. Penny Mac is for the birds. Real scammers!

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