|
11337399
|
2024-12-31
|
Trouble during payment process
|
Mortgage
|
|
| Issue |
Trouble during payment process
|
| Timely |
Yes
|
| Company |
PENNYMAC LOAN SERVICES, LLC.
|
| Product |
Mortgage
|
| Sub Issue |
Payment process
|
| Sub Product |
Conventional home mortgage
|
| Date Received |
2024-12-31
|
| Submitted Via |
Postal mail
|
| Company Response |
Closed with explanation
|
| Consumer Disputed |
N/A
|
| Date Sent To Company |
2024-12-31
|
| Consumer Consent Provided |
N/A
|
|
|
11463661
|
2025-01-10
|
Incorrect information on your report
|
Mortgage
|
|
| Issue |
Incorrect information on your report
|
| Timely |
Yes
|
| Company |
PENNYMAC LOAN SERVICES, LLC.
|
| Product |
Mortgage
|
| Sub Issue |
Account status incorrect
|
| Sub Product |
FHA mortgage
|
| Date Received |
2025-01-10
|
| Submitted Via |
Web
|
| Company Response |
Closed with non-monetary relief
|
| Consumer Disputed |
N/A
|
| Date Sent To Company |
2025-01-10
|
|
|
11107151
|
2024-12-10
|
Problem with a company's investigation into an existing problem
|
Credit reporting or other personal consumer reports
|
|
| Issue |
Problem with a company's investigation into an existing problem
|
| Timely |
Yes
|
| Company |
PENNYMAC LOAN SERVICES, LLC.
|
| Product |
Credit reporting or other personal consumer reports
|
| Sub Issue |
Problem with personal statement of dispute
|
| Sub Product |
Credit reporting
|
| Date Received |
2024-12-10
|
| Submitted Via |
Web
|
| Company Response |
Closed with explanation
|
| Consumer Disputed |
N/A
|
| Date Sent To Company |
2024-12-10
|
| Complaint What Happened |
My wallet and phone were stolen at the beginning of XXXX. PennyMac claims they offer mortgage relief. I called the number and spoke with multiple people to get relief through XX/XX/year>. I paid everything by then yet they are saying my account is delinquent and I never got relief until XX/XX/year>. When I asked for the phone records they didnt give them to me. They lied to me. I wouldve asked friends or family to loan me money until I got my money back but was confident I had until XX/XX/year> with no penalty
|
| Consumer Consent Provided |
Consent provided
|
|
|
10433325
|
2024-10-12
|
Incorrect information on your report
|
Credit reporting or other personal consumer reports
|
|
| Tags |
Servicemember
|
| Issue |
Incorrect information on your report
|
| Timely |
Yes
|
| Company |
PENNYMAC LOAN SERVICES, LLC.
|
| Product |
Credit reporting or other personal consumer reports
|
| Sub Issue |
Account information incorrect
|
| Sub Product |
Credit reporting
|
| Date Received |
2024-10-12
|
| Submitted Via |
Web
|
| Company Response |
Closed with explanation
|
| Consumer Disputed |
N/A
|
| Date Sent To Company |
2024-10-18
|
| Complaint What Happened |
Our home was lost to a flood XXXX XXXX, we were in disaster foreberance, and according to cares act could not be taken out, our Mortgage account was to have a reporting freeze. However on XXXX and XXXX of 2024 they reported delinquent. We submitted for a reversal. With the documents we had stating do not report. They agreed to the reversal on XX/XX/year>, to date no agency had received the letter that they said they sent, we have filed one credit dispute to repair experience and now are working another with XXXX, XXXX states they never received the letter from Penny Mac. I called Penny Mac on XX/XX/XXXX to confirm they said sent on XX/XX/XXXX. I have lengthy emails and documents to substantiate my claim.
|
| Consumer Consent Provided |
Consent provided
|
|
|
5991726
|
2022-09-17
|
Struggling to pay mortgage
|
Mortgage
|
|
| Issue |
Struggling to pay mortgage
|
| Timely |
Yes
|
| Company |
PENNYMAC LOAN SERVICES, LLC.
|
| Product |
Mortgage
|
| Sub Product |
FHA mortgage
|
| Date Received |
2022-09-17
|
| Submitted Via |
Web
|
| Company Response |
Closed with explanation
|
| Consumer Disputed |
N/A
|
| Date Sent To Company |
2022-09-17
|
| Complaint What Happened |
I was in between moving homes due to my XXXX getting a new job. I notified pennymac that I was going to make a double payment in XXXX and not pay anything in XXXX My XXXX is a co-signer on the house and he was not informed on this decision. I had no understanding that it would affect my credit score negatively. Once my XXXX found out it was too late for him to pay it. They made no effort to reach out to him and notify him before it was considered a month late. My XXXX and I tried to talk with them and get a courtesy and forgive it but they said they don't do those even though we have a very good record and relationship with them. We found this very wrong and highly unprofessional on their part and we are trying to find a way to resolve this.
|
| Consumer Consent Provided |
Consent provided
|
|
|
4753651
|
2021-09-25
|
Trouble during payment process
|
Mortgage
|
|
| Tags |
Older American, Servicemember
|
| Issue |
Trouble during payment process
|
| Timely |
Yes
|
| Company |
PENNYMAC LOAN SERVICES, LLC.
|
| Product |
Mortgage
|
| Sub Product |
VA mortgage
|
| Date Received |
2021-09-25
|
| Submitted Via |
Web
|
| Company Response |
Closed with non-monetary relief
|
| Consumer Disputed |
N/A
|
| Date Sent To Company |
2021-09-25
|
| Complaint What Happened |
I submitted a written Request by fax and US postal mail to PennyMac 's Correspondence Unit in XXXX XXXX, CA on XX/XX/2021. This request was to Cease and Desist All Telephone Calls to my resident and cell phone number. It has been completely ignored by consumer law. I get call frequently everyday, especially during my dinner hours and on the weekends. My loan account is not delinquent, and when it is late I completely include my late fees. Last month I paid {$750.00}, when my payment is only {$710.00}. My loan account has never been 30 days late or a month in delinquency. It is not in collection either, or should not be. I want this company charged a penalty or fine for ignoring the consumer laws regarding collections and more. The Fine should be sent to me for harassment and deliberate attempt to collect a payment that is not a month behind, and has never missed a month of payments. See attachments I have sent to them since XX/XX/2021.
|
| Consumer Consent Provided |
Consent provided
|
|
|
4513732
|
2021-07-03
|
Applying for a mortgage or refinancing an existing mortgage
|
Mortgage
|
|
| Tags |
Servicemember
|
| Issue |
Applying for a mortgage or refinancing an existing mortgage
|
| Timely |
Yes
|
| Company |
PENNYMAC LOAN SERVICES, LLC.
|
| Product |
Mortgage
|
| Sub Product |
VA mortgage
|
| Date Received |
2021-07-03
|
| Submitted Via |
Web
|
| Company Response |
Closed with explanation
|
| Consumer Disputed |
N/A
|
| Date Sent To Company |
2021-07-03
|
| Consumer Consent Provided |
Consent not provided
|
|
|
3729121
|
2020-07-03
|
Trouble during payment process
|
Mortgage
|
|
| Issue |
Trouble during payment process
|
| Timely |
Yes
|
| Company |
PENNYMAC LOAN SERVICES, LLC.
|
| Product |
Mortgage
|
| Sub Product |
FHA mortgage
|
| Date Received |
2020-07-03
|
| Submitted Via |
Web
|
| Company Response |
Closed with explanation
|
| Consumer Disputed |
N/A
|
| Date Sent To Company |
2020-07-03
|
| Consumer Consent Provided |
Consent not provided
|
|
|
3163346
|
2019-02-26
|
Applying for a mortgage or refinancing an existing mortgage
|
Mortgage
|
|
| Tags |
Servicemember
|
| Issue |
Applying for a mortgage or refinancing an existing mortgage
|
| Timely |
Yes
|
| Company |
PENNYMAC LOAN SERVICES, LLC.
|
| Product |
Mortgage
|
| Sub Product |
VA mortgage
|
| Date Received |
2019-02-26
|
| Submitted Via |
Web
|
| Company Response |
Closed with explanation
|
| Consumer Disputed |
N/A
|
| Date Sent To Company |
2019-03-05
|
| Consumer Consent Provided |
Consent not provided
|
|
|
10237480
|
2024-09-26
|
Struggling to pay mortgage
|
Mortgage
|
|
| Issue |
Struggling to pay mortgage
|
| Timely |
Yes
|
| Company |
PENNYMAC LOAN SERVICES, LLC.
|
| Product |
Mortgage
|
| Sub Issue |
Trying to communicate with the company to fix an issue related to modification, forbearance, short sale, deed-in-lieu, bankruptcy, or foreclosure
|
| Sub Product |
USDA mortgage
|
| Date Received |
2024-09-26
|
| Submitted Via |
Web
|
| Company Response |
Closed with non-monetary relief
|
| Consumer Disputed |
N/A
|
| Date Sent To Company |
2024-09-26
|
| Complaint What Happened |
Updated Mortgage Letter On XX/XX/XXXX I contacted PennyMac customer service to inquire about a one month forbearance ( which is advertised on their website as providing temporary relief by allowing you to pay reduced, or even no, payments for a brief time, depending on your individual situation, along with protection from late fees and negative credit reporting ) due to an unforeseen emergency. I only needed assistance in the month of XXXX and informed them of this. I also stated that there was a possibility that I could make the XXXX payment but that it would be late. I told them that my main goal was to keep them updated so that my account could remain in good standing.
I was informed that there was a program available that could temporarily that could assist me. I was informed that I would needed to submit supporting documentation ( including current homeowners insurance, hazard and flood insurances, deed, pay stubs, etc. ) I was also told that the sooner I submitted the information the sooner my application could be processed. I gave my verbal consent to have my application processed. At that time my account was immediately placed into a pending application status. I was assigned a point of contact for my assistance application, however, I never spoke to that person, she never contacted me, I ever was never able to reach her via telephone.
I began gathering documented requested to submit for consideration. I contacted PennyMac by phone on XX/XX/XXXX and XX/XX/XXXX regarding the status of my account and questioned why I had to send information that was already on file and had already been submitted during the inital loan application. I was told that it was part of the process. By XX/XX/XXXX all requested documents had been received and I was informed by email ( XX/XX/XXXX ) that a decision has been made and that I would be notified by mail within 30 days ( by XX/XX/XXXX ). I checked the website daily and contacted PennyMac frequently for updates but no information was available.
On XX/XX/XXXX I received an email notification that there was an updated escrow statement available. At that time I was notified ( electronically ) that my monthly escrow payment was increasing effective XX/XX/XXXX, which would cause my monthly mortgage payment to be {$2400.00} - {$800.00} more than my normal monthly payment of {$1600.00}. I immediately called PennyMac to discuss the notice I had received. I was told that because I had a pending loan modification application, that the amount in the letter was not accurate. I was told that no payment was due at that time, and that I could disregard the notice.
On XX/XX/XXXX, I contacted PennyMac in reference to my account. I informed them that I had not yet received an answer on the status of my forbearance assistance ( for the month of XXXX ) and that I didnt want my account to fall behind so I wanted to continue with my monthly payment. I was told that payments were not require while your application was pending, but that they were encouraged, so I made a partial payment in the amount of {$1400.00} ( which was placed in suspense ) and informed them that I intended to make the the additional {$200.00} payment within the week to bring the account current. ( Per my loan agreement, partial payments may be held in suspense until a full payment is made. ) On XX/XX/XXXX I received a notice regarding the renewal of my required hazard insurance. At that time I found out that through some sort of mishap, lender based insurance had been purchased on my behalf. The amount of this insurance totaled {$5300.00}. On XX/XX/XXXX I contacted PennyMac via phone reference to the Insurance notice and payment increase. I spoke with the insurance department and explained that I already had insurance. I was informed that our homeowners insurance had dropped us unexpectedly and therefore lender based insurance, flood, and hazard insurance had been purchased on our behalf. I advised them that we were not aware of this and that to our knowledge, we already had active insurance. They sent a link me for me to upload all of my insurance information for review. This prompted me to began reviewing our account statements and mortgage documents, at which time I found that we had already paid for the insurances in question at the beginning of our loan. It seemed that by mistake, we were charged ( again ) for additional hazard and flood insurance. These charges led to a deficit in our escrow account, which therefore resulting in a higher monthly payment. By XX/XX/XXXX I had uploaded all required documents and all insurance information had been updated.
Around XX/XX/XXXX, or shortly there after, I received a letter stating that my loan modification had been approved and that a trial payment in the amount of {$1900.00} was due by XXXX XXXX.
On XX/XX/XXXX, I contacted PennyMac by phone in reference to the aforementioned discrepancies. I informed the representative about the conflicting information pertaining to my loan, insurance, escrow, and payment amount. I advised them that I did not want to be in a loan modification and requested that I be taken out. I explained that the proposed modification amount was significantly more than my original mortgage payment, and that it appeared that the modification terms that they were offering were based on incorrect information. I tried to explain that the payment they proposed was based on relief from a monthly payment of {$2400.00}, and what led to the error. The representative said that she would have to make a request for the modification be cancelled and that in the meantime she would transfer me to the escrow department so they could help me resolve my situation.
Upon speaking with a representative in the escrow department, and apprising him of the situation, he confirmed my insurance information on file and asked for verbal authorization to run an updated escrow analysis. After the analysis was completed he informed me that my payment would return to {$1600.00} and stated that a refund check would be issued in the amount of {$110.00}. I asked about my payment for the month of XXXX and he stated that XXXX was the correct payment amount and that the account should be updated.
Around that time, I also received my mortgage activity statement received for the month of XXXX ( statement date XX/XX/XXXX ). In the statement my account was listed as being 45 days delinquent with a payment due date of XX/XX/XXXX. ( Past due amount due as {$5800.00} ) My regular monthly payment was listed as {$2400.00} ( the updated payment amount due to incorrect escrow ), and it included a late fee of {$54.00}. On the back of this statement, it listed payments in the amount of {$1600.00} due for the month of XXXX and XX/XX/XXXX. ( {$1400.00} is held in suspense. ) On XX/XX/XXXX, I was notified by mail that the lender placed insurance issued in compliance with my mortgage/lien agreement was cancelled - effective XX/XX/XXXX and XX/XX/XXXX. According to the account statements ( available for download on the PennyMac website ) on XX/XX/XXXX, XXXX days after making the escrow department aware of the mishap, XXXX credits were issued to my account in the amount of {$2000.00} and {$3300.00} ( listed as escrow reversal ).
Between XX/XX/XXXX and XX/XX/XXXX I contacted PennyMac several times to request that my payments applied/distributed correctly, and to request that I be taken out of modification. None of these things happened. On XX/XX/XXXX after being unable to make my normal monthly payment, due to not being given the option, I was forced to pay the only amount that the system would allow me to pay, which was {$1900.00}. On that same day PennyMac mailed a notice stating that I had a new point of contact named XXXX XXXX. And although it listed a telephone number, anytime I called the number I was automatically directed to modification customer service and she was not available.
In mid XXXX we received a mortgage activity statement ( dated XX/XX/XXXX ) which listed a past due amount due of {$4900.00}. In this statement, the regular monthly payment was still listed as {$2400.00}. The transaction activity denotes a refund for hazard insurance ( {$5300.00} ), which was applied to my account in the form of ( 2 ) regular monthly payments. ( {$1600.00} ) In addition there was a partial payment in the amount of {$1400.00} which was applied to the principal, as well as charges for late payments and ( 2 ) property inspection fees. Between XXXX and XXXX I frequently checked my online account as well as contacted PennyMac by phone with the expectation that my account would be updated and restored to the original contract- in accordance with my request and the updated escrow analysis. It was not.
On XXXX XXXX I mailed a check to PennyMac in the amount of {$1600.00}, My regularly monthly payment amount as given by the escrow analysis. On XX/XX/XXXX I once again contacted XXXX by phone in a final attempt to resolve my account issues. I stayed on the phone for several hours and spoke with several representatives but I was not able to get any answers in reference to the state of my account. Out of desperation I tried several different numbers ( found on XXXX ) listed for PennyMac loan services. However, every time I called, I kept being transferred to the same department.
I finally spoke to someone who advised me to ask for a manager and request that my case be escalated.
I was transferred to a representative who advised me that if I cancelled the modification agreement that my account would go to collections. At that point I asked to escalate the situation and be transferred to a manager. I spoke with a manager and explained the timeline and I made a final request for my account to be returned to original agreement. I explained the entire situation and I inquired about the payments that had been made and why they were not being applied to my account. I I was told that the escrow refund had been placed on the principal balance of my loan, which was I dated was incorrect. I explained that my initial request was simply for a one month forbearance- ( for the month of XXXX ), and that since then several conflicting things had occurred.
I informed the representative that full payments for the month of XXXX and XXXX, plus an additional {$1400.00} had been refunded and placed on my account from the escrow refund. In addition, there was a payment of {$1400.00} made on XX/XX/XXXX, that had previously been held in suspense ( but had been moved without my consent ) and the payment of {$1900.00} made on XX/XX/XXXX, as well as the {$1600.00} payment that had been mailed in XXXX should bring the account current. I requested that they removed the late payments from my credit report and update my balance and payment history as well as remove me from the modification status that I was placed in.
The representative stated that the request to remove me from the modification status had already been out in and that is should be updated the next day. But that the payments would not be reallocated and that I discontinued the program without making the trial payments that my account would be subject to collections and that I owed over {$5000.00}. I asked her what the money that I had paid thus far had been applied too and why it had not been accounted for and she said that it did not count towards monthly payments.
On XX/XX/XXXX I received a mortgage account statement from XXXX which stated that I had been approved for a trial modification plan, indicating that my requests had once again been ignored. It cited that an escrow refund took care of payments for XXXX and XXXX, notated the {$1900.00} payment made in XXXX but made no mention to the additional {$1400.00} payment made in XXXX or {$1600.00} payment made in XXXX. From XX/XX/XXXX until todays date ( XX/XX/XXXX ) we have paid Penny Mac a total of {$5100.00}. ( This amount does not include the refunds that were applied due to an oversight in the insurance and/or escrow.
Despite repeatedly contacting them and rejecting the terms of this program several times over the last XXXX XXXX months, they continue to ignore our requests. They have continuously failed to adequately communicate between departments, which continues to cause conflicting information, resulting in my being overcharged, and our loan to be repeatedly mishandled.
Not only are they are attempting to force us to make payments that are greater than our original contractual agreement by reporting negatively to the credit bureaus, they are intentionally failing to report payments correctly, and threatening to proceeding with collective action if we dont pay these inflated prices.
While they advertise temporary relief, it appears that theyre actually penalizing customers who come to them with a financial issue and strong arm them into a predatory modification. Their tactics have been intentionally deceptive and their handling of our account has been very careless.This program is a trap, cloaked in the form of assistance In the last moths my credit score has decreased significantly and I have suffered adverse financial repercussions, including credit denial, decreased limits, and rescinded credit on accounts previously in good standing. This situation continues to cause extreme financial strain and emotional duress.
|
| Consumer Consent Provided |
Consent provided
|
|
|
10770191
|
2024-11-12
|
Problem with a company's investigation into an existing problem
|
Credit reporting or other personal consumer reports
|
|
| Issue |
Problem with a company's investigation into an existing problem
|
| Timely |
Yes
|
| Company |
PENNYMAC LOAN SERVICES, LLC.
|
| Product |
Credit reporting or other personal consumer reports
|
| Sub Issue |
Their investigation did not fix an error on your report
|
| Sub Product |
Credit reporting
|
| Date Received |
2024-11-12
|
| Submitted Via |
Web
|
| Company Response |
Closed with explanation
|
| Consumer Disputed |
N/A
|
| Date Sent To Company |
2024-11-12
|
| Complaint What Happened |
PENNYMAC XXXX XXXX XXXX Account # : XXXX XXXX XXXX Account Type : Mortgage Mortgage Mortgage Account Type - Detail : FHA real estate mortgage FHA real estate mortgage Real estate mortgage Bureau Code : Individual Individual Individual Account Status : Open Open Open Monthly Payment : {$1800.00} {$1800.00} {$2000.00} Date Opened : XX/XX/XXXX XX/XX/XXXX XX/XX/XXXX Balance : {$290000.00} {$290000.00} {$300000.00} No. of Months ( terms ) : XXXX XXXX XXXX High Credit : {$300000.00} {$300000.00} {$300000.00} XXXX XXXX : {$0.00} {$0.00} {$0.00} Past Due : {$19000.00} {$19000.00} {$19000.00} Payment Status : Late 120 Days Late 180 Days Late 120 Days Last Reported : XX/XX/XXXX XX/XX/XXXX XX/XX/XXXX Comments : - - XXXX XXXXXXXX XXXX XXXX mortgage Date Last Active : XX/XX/XXXX XX/XX/XXXX XX/XX/XXXX Date of Last Payment : XX/XX/XXXX XX/XX/XXXX XX/XX/XXXX Two-Year payment history Legend Month XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX Payments are made on time but are reported as late. Although payment made on time it is shown 120 days late on one bureau and 180 days late. Incorrect / inaccurate reporting
|
| Consumer Consent Provided |
Consent provided
|
|
|
94266
|
2012-06-05
|
Loan modification,collection,foreclosure
|
Mortgage
|
|
| Issue |
Loan modification,collection,foreclosure
|
| Timely |
Yes
|
| Company |
PENNYMAC LOAN SERVICES, LLC.
|
| Product |
Mortgage
|
| Sub Product |
Other mortgage
|
| Date Received |
2012-06-05
|
| Submitted Via |
Referral
|
| Company Response |
Closed with explanation
|
| Consumer Disputed |
No
|
| Date Sent To Company |
2012-06-11
|
| Consumer Consent Provided |
N/A
|
|
|
604224
|
2013-11-19
|
Loan servicing, payments, escrow account
|
Mortgage
|
|
| Issue |
Loan servicing, payments, escrow account
|
| Timely |
Yes
|
| Company |
PENNYMAC LOAN SERVICES, LLC.
|
| Product |
Mortgage
|
| Sub Product |
Other mortgage
|
| Date Received |
2013-11-19
|
| Submitted Via |
Referral
|
| Company Response |
Closed with explanation
|
| Consumer Disputed |
No
|
| Date Sent To Company |
2013-11-21
|
| Consumer Consent Provided |
N/A
|
|
|
8040463
|
2023-12-21
|
Closing on a mortgage
|
Mortgage
|
|
| Tags |
Servicemember
|
| Issue |
Closing on a mortgage
|
| Timely |
Yes
|
| Company |
PENNYMAC LOAN SERVICES, LLC.
|
| Product |
Mortgage
|
| Sub Issue |
Fees or costs after closing
|
| Sub Product |
VA mortgage
|
| Date Received |
2023-12-21
|
| Submitted Via |
Web
|
| Company Response |
Closed with explanation
|
| Consumer Disputed |
N/A
|
| Date Sent To Company |
2023-12-21
|
| Complaint What Happened |
- My wife and I owned our home until XX/XX/2023 - We did a XXXX loan assumption - We closed on XX/XX/2023, and the closing attorney told us we owed {$420.00} for prorated taxes, which we informed her was wrong because we knew taxes were supposed to be at least {$1400.00} per XXXX XXXX and per our lender, but she insisted the {$420.00} is all we needed to bring - At the time of closing, our escrow account had a total of {$2600.00} in it that we had been paying every month for the prior year as part of our normal mortgage payment - We did not receive this amount as a refund from PennyMac after closing - 4 months later, on XX/XX/2023, we received an email from the attorney with a bill stating we needed to pay her {$2300.00} to cover the difference in taxes - We informed her that that was fine, we never got our escrow refunded, so the buyers should have the {$2600.00} balance from when we closed to cover that excess - The buyers claim that the {$2600.00} did NOT come from our mortgage payments for the prior 10 months, even though the escrow statement they provided showed where we paid and the running total each month - We then received an email from the closing attorney saying she would pay the taxes for us and we could reimburse her- We told her no, because we don't believe we are responsible for that, because the {$2600.00} that was in escrow + the {$420.00} we paid at closing for taxes was more than enough to cover our portion - After being dismissive and wiping her hands from the situation, we received an email XXXX minutes later from her that said she is now representing PennyMac and their position is that we need to sign a new closing disclosure and bring a cashier 's check for {$2600.00} to give the buyers of the home That's about it, none of this makes sense to me and my wife. By my math, we are technically owed {$270.00} from this ordeal, but instead we have been told we have to pay an additional {$2600.00}, which was the balance in our escrow at closing.
|
| Consumer Consent Provided |
Consent provided
|
|
|
2631802
|
2017-08-14
|
Struggling to pay mortgage
|
Mortgage
|
|
| Issue |
Struggling to pay mortgage
|
| Timely |
Yes
|
| Company |
PENNYMAC LOAN SERVICES, LLC.
|
| Product |
Mortgage
|
| Sub Product |
Other type of mortgage
|
| Date Received |
2017-08-14
|
| Submitted Via |
Referral
|
| Company Response |
Closed with explanation
|
| Consumer Disputed |
N/A
|
| Date Sent To Company |
2017-08-16
|
| Consumer Consent Provided |
N/A
|
|
|
5217195
|
2022-02-13
|
Trouble during payment process
|
Mortgage
|
|
| Tags |
Servicemember
|
| Issue |
Trouble during payment process
|
| Timely |
Yes
|
| Company |
PENNYMAC LOAN SERVICES, LLC.
|
| Product |
Mortgage
|
| Sub Product |
VA mortgage
|
| Date Received |
2022-02-13
|
| Submitted Via |
Web
|
| Company Response |
Closed with explanation
|
| Consumer Disputed |
N/A
|
| Date Sent To Company |
2022-02-13
|
| Complaint What Happened |
I notified PennyMac Loan Services of a billing error pursuant to federal law 12 CFR 1026.13 ( a ) ( 4 ) and 12 CFR 1026.13 ( a ) ( 5 ) on all past, present and future billing statements and requested documentary evidence pursuant to 12 CFR 1026.13 ( a ) ( 6 ). The letter in response to my billing error dated XX/XX/2022 did not meet the requirement for a sufficient response by federal law. My request for documentary evidence was accompanied by an allegation of an error under 1026.13 ( a ) and a request for additional clarification under 1026.13 ( a ) ( 6 ), which should have triggered the error resolution procedure, instead I am being ignored and PennyMac is willfully neglecting to do their job. PennyMac did not address the billing error in their correspondence to me nor did they conduct a reasonable investigation to resolve the problem. PennyMac failed to deliver a written explanation setting forth the reason why they believe the billing error did not occur as asserted and failed to comply with the error resolution procedures set forth in 1026.13 ( f ).
|
| Consumer Consent Provided |
Consent provided
|
|
|
1358070
|
2015-05-03
|
Cont'd attempts collect debt not owed
|
Debt collection
|
|
| Issue |
Cont'd attempts collect debt not owed
|
| Timely |
Yes
|
| Company |
PENNYMAC LOAN SERVICES, LLC.
|
| Product |
Debt collection
|
| Sub Issue |
Debt was paid
|
| Sub Product |
Mortgage
|
| Date Received |
2015-05-03
|
| Submitted Via |
Web
|
| Company Response |
Closed with explanation
|
| Consumer Disputed |
Yes
|
| Date Sent To Company |
2015-05-05
|
| Company Public Response |
Company believes it acted appropriately as authorized by contract or law
|
| Consumer Consent Provided |
Consent not provided
|
|
|
10568
|
2012-01-06
|
Loan modification,collection,foreclosure
|
Mortgage
|
|
| Issue |
Loan modification,collection,foreclosure
|
| Timely |
Yes
|
| Company |
PENNYMAC LOAN SERVICES, LLC.
|
| Product |
Mortgage
|
| Sub Product |
FHA mortgage
|
| Date Received |
2012-01-06
|
| Submitted Via |
Web
|
| Company Response |
Closed with explanation
|
| Consumer Disputed |
Yes
|
| Date Sent To Company |
2012-08-29
|
| Consumer Consent Provided |
N/A
|
|
|
3234094
|
2019-05-06
|
Struggling to pay mortgage
|
Mortgage
|
|
| Tags |
Servicemember
|
| Issue |
Struggling to pay mortgage
|
| Timely |
Yes
|
| Company |
PENNYMAC LOAN SERVICES, LLC.
|
| Product |
Mortgage
|
| Sub Product |
VA mortgage
|
| Date Received |
2019-05-06
|
| Submitted Via |
Web
|
| Company Response |
Closed with explanation
|
| Consumer Disputed |
N/A
|
| Date Sent To Company |
2019-05-06
|
| Complaint What Happened |
Pennymac set up repayment plan payments to start XX/XX/2019
XX/XX/2019 I paid XXXX XX/XX/2019 I paid XXXX, received by pennymac by overnight mail on XX/XX/XXXX, did not post until XX/XX/XXXX. XX/XX/2019 I paid XXXX sent overnight, pennymac claims check not received as of XX/XX/2019, not posted.
This is second time pennymac not posting payments as of date received. All payments are made by cashier checks from bank, I have copies. Got letter from them I defaulted because missed payment when in fact payment was sent.
|
| Consumer Consent Provided |
Consent provided
|
|
|
7111108
|
2023-06-13
|
Struggling to pay mortgage
|
Mortgage
|
|
| Tags |
Servicemember
|
| Issue |
Struggling to pay mortgage
|
| Timely |
Yes
|
| Company |
PENNYMAC LOAN SERVICES, LLC.
|
| Product |
Mortgage
|
| Sub Product |
VA mortgage
|
| Date Received |
2023-06-13
|
| Submitted Via |
Web
|
| Company Response |
Closed with explanation
|
| Consumer Disputed |
N/A
|
| Date Sent To Company |
2023-06-13
|
| Complaint What Happened |
I specifically spoke to a PennyMac complaint representative letting them know that I spoke to a VA XXXX XXXX XXXX. I provided that VA XXXX XXXX contact information to the PennyMac complaint rep named XXXX XXXX. The VA tech specifically told me that PennyMac is one of the worst companies that lies to customers telling them the VA no longer allows the deferred payment option, which is not true at all. The VA does in fact allow this and did not cancel anything on XX/XX/XXXX preventing PennyMac from offering this. Even if this was the case, PennyMac should have let me know that they would not offer this after a specific date especially when mine ended 4 days before that specific date. Instead it seems it was intentionally withheld from me to get this extra money out of someone hoping that we would not do anything about this! I cant shop for anything cheaper at the moment as I have had to max out just about everything that I have to continue paying this extra XXXX $ a month for this mortgage! PennyMac not at least willing to do something about this is completely unethical and if needed I will contact a lawyer. Yes, I had to agree to these terms because if not I would lose my house where I am raising my family! So I was left with no other choice as PennyMac only offered 2 choices. Pay back all missed payments in one lump sun or take their enormous interest rate increase, which at the time was an even higher interest rate than what the VA allows!
|
| Consumer Consent Provided |
Consent provided
|
|
|
7855548
|
2023-11-15
|
Struggling to pay mortgage
|
Mortgage
|
|
| Issue |
Struggling to pay mortgage
|
| Timely |
Yes
|
| Company |
PENNYMAC LOAN SERVICES, LLC.
|
| Product |
Mortgage
|
| Sub Issue |
Trying to communicate with the company to fix an issue related to modification, forbearance, short sale, deed-in-lieu, bankruptcy, or foreclosure
|
| Sub Product |
FHA mortgage
|
| Date Received |
2023-11-15
|
| Submitted Via |
Web
|
| Company Response |
Closed with explanation
|
| Consumer Disputed |
N/A
|
| Date Sent To Company |
2023-11-15
|
| Consumer Consent Provided |
Consent not provided
|
|
|
6922007
|
2023-05-02
|
Struggling to pay mortgage
|
Mortgage
|
|
| Tags |
Servicemember
|
| Issue |
Struggling to pay mortgage
|
| Timely |
Yes
|
| Company |
PENNYMAC LOAN SERVICES, LLC.
|
| Product |
Mortgage
|
| Sub Product |
VA mortgage
|
| Date Received |
2023-05-02
|
| Submitted Via |
Web
|
| Company Response |
Closed with explanation
|
| Consumer Disputed |
N/A
|
| Date Sent To Company |
2023-05-02
|
| Complaint What Happened |
Had to take a COVID forbearance period in XXXX for 6 months. At the time of taking it they had stated that at the end of it there was 3 options, pay lump sum to catch up, move payments to end of loan and would be paid back at time of selling, pay off or refinance, or do a complete loan modification.
When the forbearance ended, they only gave me 2 options, pay lump sum or do a complete loan modification. I asked about the 3rd option and they told me on a recorded line that the VA no longer allows this. I spoke to the VA this mornning XXXX and they told me that, they don't provide guidance on that, so if the mortgage company would do that that they could with no repercussions from the VA. The VA person ( XXXX XXXX ) stated that he has dealt and heard this from many XXXX and gave me this site to help.
PennyMac sent over the loan modification, it was basically just a refinance not a loan mod as it was to take my current loan at a rate of 2.75 % to a new loan rate of 7.25 %. This increased my mortgage from {$1500.00} to {$2300.00}, almost {$900.00} increase. They lied and took full advantage of me knowing that I didn't have the lump sum.
Now I am struggling to pay my other bills and take care of my family due to this huge increase of a monthly payment!
|
| Consumer Consent Provided |
Consent provided
|
|
|
9935311
|
2024-08-27
|
Struggling to pay mortgage
|
Mortgage
|
|
| Issue |
Struggling to pay mortgage
|
| Timely |
Yes
|
| Company |
PENNYMAC LOAN SERVICES, LLC.
|
| Product |
Mortgage
|
| Sub Issue |
An existing modification, forbearance plan, short sale, or other loss mitigation relief
|
| Sub Product |
FHA mortgage
|
| Date Received |
2024-08-27
|
| Submitted Via |
Web
|
| Company Response |
Closed with explanation
|
| Consumer Disputed |
N/A
|
| Date Sent To Company |
2024-08-27
|
| Complaint What Happened |
Dear CFPB Representative, I am writing to request your assistance in resolving an issue with my mortgage company, Pennymac loan service, regarding the reporting of late payments on my credit report. During the COVID-19 pandemic, I entered into a forbearance agreement with Pennymac loan service, which was part of a COVID-19 forbearance modification plan.
The forbearance was agreed upon to help me manage the financial difficulties caused by the pandemic, and I have since resumed regular payments as per the modified terms. However, I recently reviewed my credit report and noticed that late payments were reported during the forbearance period. This reporting is not only inaccurate but also negatively impacts my credit score and overall financial health.
I believe these late payments should not have been reported, as they occurred during a period when my mortgage payments were on hold due to the forbearance plan. Under the CARES Act, mortgage servicers are required to report accounts in forbearance as current if the account was current when the forbearance was granted. My account was in good standing before the forbearance was initiated, and I have made every effort to comply with the terms of the modification.
I have attempted to resolve this matter directly with Pennymac, but I have not yet received a satisfactory resolution. Therefore, I am seeking the CFPBs intervention to help ensure that my credit report accurately reflects my payment history.
|
| Consumer Consent Provided |
Consent provided
|
|
|
8091935
|
2024-01-02
|
Trouble during payment process
|
Mortgage
|
|
| Tags |
Servicemember
|
| Issue |
Trouble during payment process
|
| Timely |
Yes
|
| Company |
PENNYMAC LOAN SERVICES, LLC.
|
| Product |
Mortgage
|
| Sub Issue |
Payment process
|
| Sub Product |
VA mortgage
|
| Date Received |
2024-01-02
|
| Submitted Via |
Web
|
| Company Response |
Closed with explanation
|
| Consumer Disputed |
N/A
|
| Date Sent To Company |
2024-01-02
|
| Complaint What Happened |
Please see attached file from PennyMac loan services. Please make special note of the payoff from the above mentioned attorney. In their response to The Attorney General PennyMac stated that could not apply the insurance claim funds to the loan unless it paid the loan in full. Your letter to me dated XX/XX/2023. The letter from XXXX and XXXX dated in XXXX, the payoff reflected the insurance funds.. still every time I requested one..the mortgage company would send me a payoff of {$280000.00} +-. The most recent payoff that Im forwarding to you, that was good until XXXX XXXX, XXXX also reflects them applying the insurance funds. They did exactly what they told you they couldnt do!! That payoff was never uploaded to my documents on my PennyMac portal. I had listed this property for {$160000.00} had several cash offers. Every time we requested a payoff, It was sent without applying the funds. My Realtor said I was waisting his time, because I could never get the proper payoff. If they would have given the proper payoff this property would have sold. Now, 6 months later, attorney fees, property preservation fees, foreclosure fees.. its no longer the {$100000.00} its now {$120000.00}. This company XXXX XXXX in their response said they could not apply the insurance funds causing me to lose the sale of my property and then turned around and did what they said they couldnt do. I have tried with this company until Im blue in the face. I am a 100 % XXXX XXXX XXXXXXXX Veteran that is homeless because of these people. My credit is ruined, I have XXXX dogs, and no rental history.. who in their right mind is going to rent to me.
XXXX XXXX XXXX XXXX
|
| Consumer Consent Provided |
Consent provided
|
|
|
2348981
|
2017-02-16
|
Loan servicing, payments, escrow account
|
Mortgage
|
|
| Issue |
Loan servicing, payments, escrow account
|
| Timely |
Yes
|
| Company |
PENNYMAC LOAN SERVICES, LLC.
|
| Product |
Mortgage
|
| Sub Product |
FHA mortgage
|
| Date Received |
2017-02-16
|
| Submitted Via |
Web
|
| Company Response |
Closed with explanation
|
| Consumer Disputed |
No
|
| Date Sent To Company |
2017-02-22
|
| Complaint What Happened |
I applied to refinanced my home in XX/XX/XXXX with XXXX it was not completed until XX/XX/XXXX the agent at XXXX ask me to give XXXX a call because that is who she had her insurance with and they have a great rates so I called and spoke with XXXX and she gave me prices of {$1100.00} for my premium so my house payment came up to {$550.00}. My loan was sold to Penny Mac and on XX/XX/XXXX of this week I spoke with penny mac because I was trying to find out why my escrow is short {$3300.00} and my house payment has gone up to {$910.00} amount. I had been calling them since XX/XX/XXXX which at that time I had XXXX on the phone with me because penny mac said I needed to speak with my insurance company about this so on that date is when I cancel my insurance with XXXX because they were keep going up on my premium for no reason. I refinance my house for my payments to go down not up not because of my insurance neither. When I spoke with penny mac this week they informed me that XXXX had sent an invoice in for {$1100.00} in XX/XX/XXXX then another one in XXXX for {$2100.00} and they paid that one because they threaten to cancel my insurance so the persons on the phone at penny mac said that XXXX was double paid and they should have been only paid the {$1100.00} not the {$2100.00}, per Mr. XXXX in the escrow department when he was speaking with the lady in their insurance department I did n't get her name because she had a harsh raspy voice but he repeated everything she said to me. so I emailed XXXX and the person I was going back and forward with there is XXXX and she said what XXXX had quoted me was incorrect and they told me that and that is what I was supposed to pay for my insurance and I told her that is not correct and I did not refinance my home for the payment to go up and you all was not offering anything else. I have documentation to show how many times they have gone up on my premium and have incorrect information on my home. this complaint is for Penny Mac and XXXX both or at fault Penny Mac for not paying the first amount and XXXX for sending a double bill and I am having to pay for both of their mistakes and that is not fair to me. When I cancel my insurance with XXXX they return a check in the amount of {$2200.00} that would have been the premium for this year so that amount has been deducted so it left me with a shortage of {$1000.00} for my escrow and I want XXXX to send that check back to Penny Mac so this situation can be corrected they should not have sent it a double bill but when you see what they sent me it was more then double. I pray that this make since.
|
| Consumer Consent Provided |
Consent provided
|
|
|
7426183
|
2023-08-19
|
Struggling to pay mortgage
|
Mortgage
|
|
| Issue |
Struggling to pay mortgage
|
| Timely |
Yes
|
| Company |
PENNYMAC LOAN SERVICES, LLC.
|
| Product |
Mortgage
|
| Sub Product |
FHA mortgage
|
| Date Received |
2023-08-19
|
| Submitted Via |
Web
|
| Company Response |
Closed with explanation
|
| Consumer Disputed |
N/A
|
| Date Sent To Company |
2023-08-20
|
| Consumer Consent Provided |
Other
|
|
|
12938
|
2012-01-12
|
Loan modification,collection,foreclosure
|
Mortgage
|
|
| Issue |
Loan modification,collection,foreclosure
|
| Timely |
Yes
|
| Company |
PENNYMAC LOAN SERVICES, LLC.
|
| Product |
Mortgage
|
| Sub Product |
FHA mortgage
|
| Date Received |
2012-01-12
|
| Submitted Via |
Web
|
| Company Response |
Closed with explanation
|
| Consumer Disputed |
No
|
| Date Sent To Company |
2012-06-11
|
| Consumer Consent Provided |
N/A
|
|
|
4040312
|
2020-12-31
|
Struggling to pay mortgage
|
Mortgage
|
|
| Tags |
Older American, Servicemember
|
| Issue |
Struggling to pay mortgage
|
| Timely |
Yes
|
| Company |
PENNYMAC LOAN SERVICES, LLC.
|
| Product |
Mortgage
|
| Sub Product |
VA mortgage
|
| Date Received |
2020-12-31
|
| Submitted Via |
Web
|
| Company Response |
Closed with explanation
|
| Consumer Disputed |
N/A
|
| Date Sent To Company |
2020-12-31
|
| Complaint What Happened |
I called PennyMac in XX/XX/XXXX about paying my XX/XX/XXXX mortgage payment late because of a family member issue with COVID-19. I ask to double my monthly payment including late fees with the XXXX XX/XX/XXXX payment. I was told " NO '', threatened by the customer service rep with PennyMac sending derogatory and negative credit information to all three credit bureaus. I paid my XXXX payment on XX/XX/XXXX which included the late fee and scheduled my normal monthly XX/XX/XXXX payment thru their automatic debit system. This mortgage company had no right to threaten to ruin my credit rating ; showed no compassion for me as a customer/consumer like all the other people currently going thru issues concerning COVID-19 throughout the XXXX. The consumer is dealing enough with anxiety ; fear ; frustration ; loss of jobs ; less money, and struggling to make ends meet during this pandemic. I can not believe that the government would allow creditors, merchants, and bill collecting agencies to profit by charging late fees ; making calls every week as PennyMac did to me while my payment was late in the form of telephonic harassment. My payment was due on the first and it is considered late on the XXXX of the month. PennyMac began to call me on the XXXX, and call every week thereafter, sometimes 2-3 times a day after the XXXX. My mortgage for XXXX was paid on the XXXX with late fees of {$32.00}. The circumstances of this pandemic should have given the average bill-paying consumer a chance to pay monthly what they owe without any extra charges of late fees and additional stresses. Government needs to monitor creditors of all kinds.
|
| Consumer Consent Provided |
Consent provided
|
|
|
1418334
|
2015-06-12
|
Loan servicing, payments, escrow account
|
Mortgage
|
|
| Issue |
Loan servicing, payments, escrow account
|
| Timely |
Yes
|
| Company |
PENNYMAC LOAN SERVICES, LLC.
|
| Product |
Mortgage
|
| Sub Product |
Other mortgage
|
| Date Received |
2015-06-12
|
| Submitted Via |
Referral
|
| Company Response |
Closed with explanation
|
| Consumer Disputed |
No
|
| Date Sent To Company |
2015-06-17
|
| Company Public Response |
Company believes it acted appropriately as authorized by contract or law
|
| Consumer Consent Provided |
N/A
|
|
|
6999586
|
2023-05-19
|
Problem with a credit reporting company's investigation into an existing problem
|
Credit reporting, credit repair services, or other personal consumer reports
|
|
| Tags |
Servicemember
|
| Issue |
Problem with a credit reporting company's investigation into an existing problem
|
| Timely |
Yes
|
| Company |
PENNYMAC LOAN SERVICES, LLC.
|
| Product |
Credit reporting, credit repair services, or other personal consumer reports
|
| Sub Issue |
Investigation took more than 30 days
|
| Sub Product |
Credit reporting
|
| Date Received |
2023-05-19
|
| Submitted Via |
Web
|
| Company Response |
Closed with explanation
|
| Consumer Disputed |
N/A
|
| Date Sent To Company |
2023-05-19
|
| Consumer Consent Provided |
Consent not provided
|
|
|
9627045
|
2024-07-26
|
Trouble during payment process
|
Mortgage
|
|
| Issue |
Trouble during payment process
|
| Timely |
Yes
|
| Company |
PENNYMAC LOAN SERVICES, LLC.
|
| Product |
Mortgage
|
| Sub Issue |
Escrow, taxes, or insurance
|
| Sub Product |
Conventional home mortgage
|
| Date Received |
2024-07-26
|
| Submitted Via |
Web
|
| Company Response |
Closed with explanation
|
| Consumer Disputed |
N/A
|
| Date Sent To Company |
2024-07-26
|
| Complaint What Happened |
I was informed that due to an error in communication with my insurance company that pennymac did not completely pay my insurance fee causing my insurance to be cancelled in XXXX of XXXX. I did not know this had happened until XXXX of XXXX. Because of this I had no insurance for a year. Now that I am seeking new insurance my insurance fees are extremely high ( XXXX dollars higher ) due to the lapse in coverage even though it was not my fault I didnt not have insurance. I paid every mortgage payment diligently and on time therefore my escrow should have been paid on time. Due to this increase in insurance my house payment is scheduled to go up XXXX dollars which I will not be able to afford and I have a major escrow shortage of XXXX dollars which pennymac will not explain to me or help me lessen as it is their fault. XXXX has not done anything to mediate this and refuses to help with the insurance cost and my escrow shortage.
|
| Consumer Consent Provided |
Consent provided
|
|
