Pennymac - Pasadena, California

AJ R.

Wish I could give negative stars bought first home in Texas my loan got transferred to pennymac and it isn't good can't even call and make a payment nowhere to go and make a payment no help at all. Make sure you look into these companies that take over loans. Wish i would have, but first home and learning experience, but seems like they are out to get YOU

Ricky G.

I lost my job a few months ago. Unfortunately, I was out of work for about a month. Along with that a few major set back with my home happened. I’ve never missed or been late on a payment till this. I called customer service since they say they offer different options in the event of an unforeseen financial situation. I told them I lost my job and I would like to defer one month, that was it. I was told that they don’t deferred payments even thought a letter I got from says it’s an option, it was not. I was told that they can split the payment into three payments for the following months. I told them that I could make a payment but not the full amount. They took the payment and split the remaining balance for the next three months. they did tell me that they will still report it to the credit companies as a late payment. So much for help or assistance. They destroyed my credit score. It will take years to get it back up. So please don’t believe that they will help and understand. They will quickly report the month you miss and attempt to foreclose. I was a big fan till this happened. Very disappointed. Please do not ask them for help because that’s not what they do. If you don’t make your payments regardless of your situation they will put you and your family in the streets.

TaWanna E.

I was in a loan forbearance 3 months with this company. My original mortgage was sold to them. They are scammers. I was unemployed for 2 months and faces a hardship so they said they would put my mortgage in forbearance and my credit was not at risk. I just came out of the forbearance two weeks ago and they went back the full 90 days and related my credit as DELINQUENT all 3 months I was in forebearance. This cannot be legal!

So I am calling BBB, disputing it with all bureaus and calling for someone at the top of their credit reporting company to rectify this asap. When your credit is flawless for the past 16 years and this happens it’s not a reflection of me as a consumer but a poor reflective of PennyMac as a lender. How can you promise not to jeopardize someone’s while in a hardship and then say oh you’re out of the hardship, now I’ll retroactivate all that negative history. That’s not helping, that’s harming!! And that’s falsification!

I have had 3 other mortgages prior to this company and never had an issue like this. I also have federal student loans which have been in forbearance many times due to a layoff and then due to pandemic and that have not once put any negative or derogatory marks on my credit. I went from a 742 overnight to a 554 as a result of them reporting this falsely. I was told by Pennymac that my credit would not be impacted me negatively. The worst part is this was not my lender when I purchased this home last year, it was sold to Pennymac. Buyer BEWARE if you’re selecting them as your creditor. This is fraudulent!

Mo C.

Worst customer service from a loan servicing company in the world, period. Once they get your business, you are an after thought. The customer service line is plain terrible.

DeAnn D.

Already being a satisfied customer of PennyMac Mortgage Services, I applied for refinancing of my mortgage. The entire process was smooth sailing. As soon as I submitted my online request for refinancing, their loan specialists got right back to me. From the beginning the communication was exceptional - I received phone calls and emails from the team on a consistent basis informing me of my application status. The entire team was professional, courteous, and genuinely interested in coaching me through the process and letting me know what to expect and when the refinancing would finalize. I especially appreciated that the Closing Team Specialist I was assigned to always called me at a time convenient for me to speak although we are in different time zones. The specialist walked me through the entire process to make sure I understood and reviewed all documents with me before I signed off on the closing documents. Finally, the entire process moved quickly and efficiently. I would certainly recommend using PennyMac Loans and I would call upon their services again if the need arises.

Marie R.

The process was so much quicker than expected-about 3 weeks. All of the loan officers and reps I spoke with were very professional. My questions about the fees, points, and closing were clearly communicated and answered promptly. I started working with another company in June and as of September 1, still had not closed. I decided to give PennyMac a call. It was definitely a pleasure working with them. Thank you Tate and Rene!

Zelalem H.

We are very happy about the great home refinance experience we had with PennyMac. The customer service was excellent, quick and efficient. The electronic system is very well integrated and highly intuitive. We were able to close in a short period of time. The loan specialist was readily available to answer our questions and provide guidance whenever needed. We have started recommending PennyMac to friends and relatives.

Kim H.

During our home refinance process, we experienced a quick and accurate process. Nancy was amazing to work with and knowledgeable about the process and product. She maintained consistent contact with us all the way through up through closing. We were very pleased with our outcome and appreciate working with Penny Mac. They are extremely communicative and professional. Thanks for a great experience!