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PennyMac Mortgage Refinance Review
ConsumersAdvocate.org
15 Customer Comments & Reviews - see all comments
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PennyMac is a mortgage lender based in Westlake Village, California. It was founded in 2008 and offers fixed- and adjustable-rate conventional, FHA, and VA loans for single-family homes. It also offers cash-out refinancing and IRRRL VA loans.
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15 Customer Comments & Reviews
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FUCK THESE CROOKS. Stay far, far away. If you’re reading this now it’s probably too late. If you’re a veteran then definitely double time it outta here.
This company never puts a human being on phone, doesn’t allow you on any of their platforms to pay above the minimum payment. The phone is a horrible maze of robots and numbers. If I could give negative stars I would.
PennyMac Refinance process takes you through extremes and promises that your application looks favorable when they actually only want you to make an early mortgage payment. Once that is done they advise you that they will make a decision on your application. However, two weeks later you receive no call then once you contact them your favorable application was disapproved. They contract with a local appraiser that cannot even get the residence square footage correct and low balls the estimated appraisal. What a joke this company is when they claim they take care of military. Steer clear of this underhanded financial institution.
This company sucks total ass!!.Complete liars stay very very far away.Wont return calls
It is hard to overstate how bad this company is. They have made a gargantuan mess of my mortgage that no one there seems to be inclined to figure out. It is a nightmare. Stay far, far away.
PennyMac is absolutely horrible. They’re underhanded, I would never recommend them to anyone.
PennyMac cost me thousands of dollars by fumbling (with MULTIPLE issues/incidents) the closing of a 5 duplex deal, causing unnecessary delays. Then they screwed up the escrows so bad, their representative took 4 days to figure it out. Then they failed to pay my property taxes on time. While I was out of country, something happened to my insurance and they charged me $189 for "3 weeks of insurance". If they called me or emailed me I would have gotten the email or my answering service would have emailed me. Salt in the wound. When I called, they just kept talking over me and repeating themselves over and over after I ask them to stop repeating themselves. I don't recommend anyone ever do... Read More
Twice now in 2021 there online mortgage payment system has not worked, when you log in the system sends you a verification code that you are to retype into your log in page in order to advance the log in process, but two different times in 2021 the system failed in sending me my code, so I couldn't pay my mortgage. If this payment falls on a weekend or after regular business hours your screwed they have no after hours customer service of any kind. You can't contact them online or phone in a help service message or there contact page because you need the verification code they are suppose to send you in order to do that as well. I'm sure there IT people are sub-contracted and not on site.... Read More
BEWARE! PennyMac just denied my client's loan the day before closing because the seller was an investor despite knowing from day one the seller was an LLC. I've been a REALTOR for 26 years and this is the most bogus excuse I have ever heard. The property appraised OVER the purchase price and PennyMac has cost my buyers thousands of dollars. Stay away from this company... there are plenty of other mortgage companies who value their reputation and the loyalty of their clients. .. PennyMac isn't one of them. One of the worse experiences in my real estate career and to happen to such wonderful people makes it even worse!
I will not use this company when I apply for another loan after paying off my home. NO as in NO human interaction sans overseas answering service in the PI. Difficult to ask questions regarding payoff, seems they are cheap on staff to make another 300M in profit.... awful company.
The WORST ever.. My first payment has been returned to me twice?? WHAT IN THE world?? The post office says that the SKU on the front of their envelope has a problem with it. I called them to let them know that they have a problem with their envelope and the customer service rep didn’t even care, WOW! I think they are trying to scam people for the late fees. This is very concerning! DON’T do business with these clowns. RUN THE OTHER WAY!!