| 06/14/2023 |
Yes |
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- Trouble during payment process
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Web |
Servicemember |
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I closed on my dream home on XX/XX/XXXX, XXXX XXXX XXXX as my loan provider. I made my first month 's payment the third week of XXXX making this account defaulted when PennyMac allegedly took over/bought/transferred this loan from XXXX XXXX.
I have sent several letters ( TRACKING XXXX, XXXX ) requesting debt validation and proof of holder in due course from PennyMac Loan Servicing who has failed to reply, update my account to reflect disputed, and continues to attempt this alleged debt by using harassment, obscene and offensive language, and worse threatening me and my family. Below is my third letter.
Also, this Deed of Trust is voided as law stands that XXXX can not be a beneficiary ( Bain v. Metropolitan Mortgage Group , Inc., 2012 WL 3517326 ( Wash. 2012 ) ). Rather than the lender that issued the note to the borrower/homeowner. Interpreting the meaning of the word " beneficiary '' in state foreclosure statutes, the Washington Supreme Court agreed with other courts that have held that MERS is not actually the beneficiary of the note and thus has no power to. The court also held that the facts might present a violation of the state consumer protection act because MERS misrepresented itself as the beneficiary to the borrower, thus engaging in a deceptive business practice. Whether the statute was violated depended on whether the borrower could show that she was injured by the deceptive statement.
I have asked twice now, this is my third time for proof that PennyMac id the true owner of the Note or the current holder of the note and not the chain of assignments from the original lender. They have replied with photo copies of a Note that does not support their claim. Also, stated that my legal request is too burdensome.
XXXX XXXX XXXX XXXX XXXX XXXX California XXXX PENNYMAC XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX, CA XXXX Account Name : Alleged Account Number : XXXX RE : account # XXXX Certified Mail # Date : XX/XX/XXXX NOTICE TO AGENT IS NOTICE TO PRINCIPAL AND NOTICE TO PRINCIPAL IS NOTICE TO AGENT To Whom It May Concern : Request for Admissions Dear PENNYMAC LOAN SERVICES In regards to your package dated XX/XX/XXXX. You did not answer my requests point by point as required by law. I requested that you provided proof of claim. I am hereby disputing the following facts stated in an administrative notice dated XX/XX/XXXX.
Paragraph 2 states that I owe PennyMac Loan Servicing, LLC the amount of {$7600.00}. I hereby deny this claim in its entirety.
There is no evidence that PennyMac Loan Servicing is entitled to be named the Beneficiary under this debt. The original lender under the Deed of Trust/Mortgage is XXXX XXXX XXXX XXXX XXXX XXXX XXXX... There is no chain of title naming PennyMac Loan Servicing as the real party of interest or holder of the negotiable instrument. The photocopied paperwork you sent dated XX/XX/XXXX confirms that PennyMac Loan Servicing is not listed on the Deed of Trust. Nor was any evidence provided to support PennyMac Loan Servicing claim. Under the Truth in Lending Act pursuant to 15 USC 1601-1667j ( full disclosure ), I have a right to know who the true party of interest in this transaction is regardless of how burdensome providing this legal right to me the Consumer. As such, I am asking you to stipulate whether you are the holder in due course for my promissory note. If you are not the holder, then you admit to being the servicer of this obligation.
Please also stipulate whether or not my loan has been securitized, and if so, the name of the REMIC/Trust my loan is bundled with.
Pursuant of U.C.C. - ARTICLE 3 -3-501 ( b ) 2 ( 1 ), I am entitled to demand presentation of the negotiable instrument. That demand is hereby ordered. I demand that you present for my visual inspection MY ORIGINAL WET INK SIGNATURE PROMISSORY NOTE and allonge together with the ORIGINAL WET INK Deed of Trust in XXXX XXXX County. This is required to establish your right of enforcement as Holder in Due Course via a chain of assignment as evidenced by the Note or Allonge. Claiming to be the the holder in due course as a statement is insufficient proof of status and is/will be rejected. A photocopy of the documents is insufficient proof as it does not answer the question of who CURRENTLY is the rightful and lawful holder in Due Course.
If you are unable to provide this proof as I have requested within 30 days, then you admit to not being a party of interest and can not rightfully enforce your claim under U.C.C. - ARTICLE 3 3-301.
Under Title 12 226.39 ( regulation Z ) part ( a ), a servicer does not have the rights of a holder in due course and therefore, do not have the right to foreclose. You are hereby given notice that any attempt to foreclose on my property will be construed as prima facia evidence that you are committing fraud.
In a recent case law, it was ruled as follows : It is the creditors responsibility to keep a borrower and the Court informed as to who owns the note and mortgage and is servicing the loan, not the borrowers or the Courts responsibility to ferret out the truth It is worth repeating as a warning to lenders and servicers that the rules of this Court apply to them. Their private agreements and the frenzied trading market for mortgages do not excuse compliance ( In re Nosek, 406 B.R. 434, 440 ( D.Mass 2009 ) ) Under US Code TITLE 15 > CHAPTER 41 > SUBCHAPTER V > 1692g part b ), this debt is now officially in dispute. By law, all collection activities must cease until this matter is resolved. You are hereby given notice. Blatant disregard for this law is subject to fines by the FTC. You are advised to consult legal council on this matter.
I am giving you formal notice that failure to respond to this letter through a verified and validated proof of claim within 30 days as I have asked for, point for point will be taken as an administrative default.
Please be advised. A COPY of the said Note nor an Affidavit of Loss or any other forms will not be acceptable.
Please contact me in writing to arrange for an appropriate point of inspection in XXXX XXXX County, California.
Litigation is very expensive and should be avoided at all cost. This is my good faith attempt to resolve this matter before I am forced to litigate against your company. I am pleading with you to resolve this matter privately and civilly as to avoid burdening our courts with this matter. If I have to, I will see you in court. This is not an idle threat.
15 U.S. Code 1692g - Validation of debts A copy of the security instrument is not a sufficient proof of claim as per U.C.C. - ARTICLE 3 -3-501 ( b ) 2 ( 1 ). Under this code, I am entitled to have the instrument presented to me as you are required to upkeep the legal document allegedly entrusted to you.
You stated in paragraph two of your response that per the correspondence sent by PennyMac Loan Services on XX/XX/XXXX, a dispute of the validity of the debt must be received within thirty ( 30 ) days after receipt of said notice, or Pennymac will assume the debt to be valid. As no dispute was received within the specified timeframe, the loan was and continues to be serviced in accordance with the terms of the signed loan documents and the laws of the state in which the property is located. I was unaware that Pennymac ( company ) overrules and outweighs the Federal Laws Federal Debt Collection Practices Act ( FDCPA ) and as stated in your response state law in which the property is located being California. Pursuant unto the FDCPA you are violated and refuse me my rights. According to the FDCPA 15 U.S. Code Chapter 41 - CONSUMER CREDIT PROTECTION Subchapter V : 15 U.S. Code 1692g - Validation of debts ( c ) Admission of liability The failure of a consumer to dispute the validity of a debt under this section may not be construed by any court as an admission of liability by the consumer.
Under USC Title 18 Chapter 25, you are engaging in counterfeiting and such behavior is a felony. Providing a photocopy of a security instrument is not only unconscionable but is illegal. I had asked for the visual inspection of the original promissory note, not a copy. You did not provide any proof to sufficiently satisfying your claim under U.C.C. - ARTICLE 3 -3-302 that you are a note holder in due course. You did not stipulate whether or not you were the holder in due course. You did not stipulate whether this loan was securitized as required by law.
Therefore, you admit to the following : 1 ) You adm
it that you are a servicer of the promissory note.
2 ) You admit that the loan has been securitized.
3 ) You admit that you are not a real party of interest in this controversy.
4 ) You admit that you are a debt collector and not the original creditor.
Under the Federal Rules of Civil Procedure Rule 36, you are advised to notify me within 30 days should you wish to contest any of the above allegations with specific proof. Failure to do so means that you fully admit to all allegations as truth. These admissions will be used as evidence against you in any future controversy involving this matter.
In regard to the above-referenced account in accordance to the Fair Credit Reporting Act 15 USC 1681a 2 ( B ) this account is not included in a consumer report. You have reported this account to my consumer report which is a clear violation of the law. I The Federal trade Commission ( FTC ) more specifically the GrammLeachBliley Act 15 USC 6802 obligations with respect to disclosures of personal information ( a ) NOTICE REQUIREMENTS Except as otherwise provided in this subchapter, a financial institution may not, directly or through any affiliate, disclose to a nonaffiliated third party any nonpublic personal information.
( b ) OPT OUT ( 1 ) IN XXXX financial institution may not disclose nonpublic personal information to a nonaffiliated third party unless ( A ) such financial institution clearly and conspicuously discloses to the consumer, in writing or in electronic form or other form permitted by the regulations prescribed under section 6804 of this title, that such information may be disclosed to such third party ; ( B ) the consumer is given the opportunity, before the time that such information is initially disclosed, to direct that such information not be disclosed to such third party ; and ( C ) the consumer is given an explanation of how the consumer can exercise that nondisclosure option.
I recently received copies of my XXXX credit reports and I see you are still reporting on all three major Consumer Reporting Agencies. This is after I, the consumer, gave you PENNYMAC LOAN SERVICER notice that I do not give you permission to report, NO PERMISSIBLE PURPOSE. You did not only fail to disclose to me that I can opt out of having my information reported, you threaten and used obscene language telling me I had no rights under the FCPA and the TILA regarding my right to opt out. I am writing you for the third time to demand and EXERCISE MY FEDERAL RIGHT : I DO NOT GIVE YOU PERMISSION TO REPORT, YOU HAVE NO PERMISSIBLE PURPOSE. If you continue to knowingly damage my reputation I will exercise my legal consumer right to full extent of the Federal Laws. They took their misleading and fraudulent communications further and told me I had no right ( paragraph 3 and 4, page 2 ). Does PennyMac Loan Servicing trump/outweigh/higher than the United Stated Federal Law ? PENNYMAC LOAN SERVICES knowingly and willfully withheld pertinent information regarding the disclosure of my information to affiliated and non-affiliated third parties. PENNYMAC LOAN SERVICES knowingly and willfully withheld information that explained how I the consumer can exercise that nondisclosure option. However, notice was given in writing on XX/XX/XXXX, by me ( Consumer ) that I am exercising my right to nondisclosure to all third parties. This includes all reporting agencies, ay affiliates, business partners or associates, etc. that Pennymac Loan Services has in the past or in future work with or given information to pertaining to any and all aspects of this alleged account and its activities. You do not have my permission.
Reporting of these account is a violation of 15 USC 1681a, The Fair Credit Reporting Act [ 15 USC 1681 ( a ) ( 2 ) ( B ) ] : ( 2 ) EXCLUSIONS.Except as provided in paragraph ( 3 ), the term consumer report does not include ( B ) any authorization or approval of a specific extension of credit directly or indirectly by the issuer of a credit card or similar device ; The Truth in Lending Act 15 USC 1602 ( g ), credit card is defined as the following : The term credit card means any card, plate, coupon book or other credit device existing for the purpose of obtaining money, property, labor, or services on credit.
This makes my social security card, drivers license/ID, and license plate credit cards that are/were used for the extension of credit. You ( PENNYMAC LOAN SERVICES ) are in violations of several federal laws you have 10 calendar days from the receipt of this letter : I Demand that : 1 ) Any and ALL negative/derogatory remarks, annotations, comments, or the like to be removed off of ALL of my consumer reports immediately AND 2 ) This account be updated to report as Closed. PAID IN FULL. In GOOD STANDING for this account on ALL of my consumer reports immediately.AND 3 ) Clear my title/deed to subject property or 3 ) To delete this account from all credit reporting agencies that you have furnished this information to along with all my Consumer reports that this information is on.
You are put on notice of the fact of the matter and the continuation of reporting this account after you have been put on notice I will take legal action for willful noncompliance under the civil liability section of the FCRA 15 USC 1681n and the TILA 15 USC 1601.
Should you decide to discriminate against me for future business and or products because I exercise my federal consumer rights under this or any chapter I will be coming after you ( PENNYMAC LOAN SERVICES ) for damages and I will use the contents of this and previous correspondence as proof of such decision.
15 USC 1691 a ( 3 ) ( a ) ACTIVITIES CONSTITUTING DISCRIMINATION It shall be unlawful for any creditor to discriminate against any applicant, with respect to any aspect of a credit transaction ( 1 ) on the basis of race, color, religion, national origin, sex or marital status, or age ( provided the applicant has the capacity to contract ) ; ( 2 ) because all or part of the applicants income derives from any public assistance program ; or ( 3 ) because the applicant has in good faith exercised any right under this chapter.
RE : Alleged account # XXXX Certified Mail # XX/XX/XXXX NOTICE OF DISPUTE ; DEMAND FOR VALIDATION AND PROOF OF CLAIM To Whom it May Concern This letter is being sent to you in response to a computer generated, unsigned letter dated XX/XX/XXXX, received by Claimant from your offices. Be advised that your claim is disputed and validation and proof of claim of the disputed debt is requested for the third time, in accordance with the Fair Debt Collection Practices Act, 15 USC 1692 and as amended by adding the following new Title 8 USC 802 et seq., and the Fair Credit Billing Act, 15 USC. 1666 et seq. All of which work in conjunction with each other, including the Truth In Lending Act ( TILA ) 15 USC 1601 et seq. It is not now, nor has it ever been, my intention to avoid paying any obligation that is lawfully owed by the Claimant. I refuse to pay this alleged debt until the proper validation of this debt is provided. Please cease and desist all collection activities until you can properly validate this alleged debt.
15 USC 1692c ( c ) Ceasing communication If a consumer notifies a debt collector in writing that the consumer refuses to pay a debt or that the consumer wishes the debt collector to cease further communication with the consumer, the debt collector shall not communicate further with the consumer with respect to such debt. If proper validation of this alleged debt is not provided within 30 calendar days of receiving this notice, I will assume this alleged debt to be invalid and you shall delete this account and stop all collection activities regarding this account. In order to make arrangements to pay an obligation which may be lawfully owed, please document and verify the debt by complying, in good faith, with this request for validation and return it to me, within thirty ( 30 ) days of receipt of this letter.
This is NOT a request for verification or proof of Claimant mailing address, but a request for VALIDATION and PROOF OF CLAIM made pursuant to the above-named Titles and Sections. I respectfully request that your offices provide Claimant with competent evidence as per the attached Declaration and Proof of Claim that I have any legal obligation to pay you the unsubstantiated alleged debt.
Provide under Rule 1002. Requirement of the Original An original writing, recording, or photograph is required in order to prove its content unless these rules or a federal statute provides otherwise.
Furthermore, you shall cease all verbal communication. No phone calls, no text messages, no social media contact, no ringless voicemail contact, no email contact, the only communication must be through the UNITED STATES POST OFFICE, to the Claimant.
At this time I will also inform you that your offices have been erroneously reporting invalidated information to all of the 3 major Consumer reporting agencies : XXXX, XXXX and XXXX prior to validation and proof of claim of the disputed debt, this action constitute fraud under both Federal and State Laws. Due to this fact ; any and all negative mark ( s ) found on any of the Claimants consumer reports by your company or the company that you represent. If all negative remarks are not removed and updated to good standing/paid in full, I will not hesitate in bringing legal action against you and your client for the following : Violation of the Fair Credit Reporting Act Violation of the Fair Debt Collection Practices Act Defamation of Character Violation of United States Code TITLE 18 PART 1 CHAPTER 63 1341 ( Mail Fraud ) This debt is considered to be invalid until I receive proper validation and your offices provide Claimant with proof of claim of the disputed debt. Your offices have 30 days to produce the required documentation in accordance with FTC guidelines. During this validation period and proof of claim, if any action is taken which could be considered detrimental to any of Claimant consumer reports, said action will be considered a dishonor and cause the self-executing contract portion of this notice to be implemented. This includes any listing any information to a consumer reporting repository that could be inaccurate or invalidated.
If your offices fail to respond to this validation and proof of claim request within 30 days from the date of your receipt, all references to this account must be deleted and completely removed from Claimant credit file and a copy of such deletion request shall be sent to Claimant immediately.
Title 8 USC 809. Validation of debts [ 15 USC 1692g ] ( b ) If the consumer notifies the debt collector in writing within the thirty-day period described in subsection ( a ) that the debt, or any portion thereof, is disputed, or that the consumer requests the name and address of the original creditor, the debt collector shall cease collection of the debt, or any disputed portion thereof, until the debt collector obtains verification of the debt or any copy of a judgment, or the name and address of the original creditor, and a copy of such verification or judgment, or name and address of the original creditor, is mailed to the consumer by the debt collector.
XXXX XXXX XXXX : VERIFICATION. Confirmation of correctness, truth, or authenticity, by affidavit, oath, or deposition.
In conjunction with the above request, upon further investigation I did not receive All MY TRUTH IN LENDING DISCLOSURES.
Provide me with my truth in lending disclosures 15 usc 1635 ( a ) The information and rescission forms required under this section together with a statement containing the material disclosures required under this subchapter.
The creditor shall clearly and conspicuously disclose, in accordance with regulations of the Bureau, to any obligor in a transaction subject to this section the rights of the obligor under this section.
The creditor shall also provide, in accordance with regulations of the Bureau, appropriate forms for the obligor to exercise his right to rescind any transaction subject to this section.
Under 15 U.S. Code 6802 - Obligations with respect to disclosures of personal information You failed to provide me with the Required disclosures to OPT out of having my information reported. The law is very clear and before you reported my information to any nonaffiliated 3rd party ( Consumer Reporting Agencies ) you should have given me the following disclosures and you did not. Provide me with the following ; ( a ) NOTICE REQUIREMENTS Except as otherwise provided in this subchapter, a financial institution may not, directly or through any affiliate, disclose to a nonaffiliated third party any nonpublic personal information, unless such financial institution provides or has provided to the consumer a notice that complies with section 6803 of this title.
( b ) OPT OUT ( 1 ) IN XXXX XXXXinancial institution may not disclose nonpublic personal information to a nonaffiliated third party unless ( A ) such financial institution clearly and conspicuously discloses to the consumer, in writing or in electronic form or other form permitted by the regulations prescribed under section 6804 of this title, that such information may be disclosed to such third party ; ( B ) the consumer is given the opportunity, before the time that such information is initially disclosed, to direct that such information not be disclosed to such third party ; and ( C ) the consumer is given an explanation of how the consumer can exercise that nondisclosure option.
Counter Claim with Self-executing Contract If Respondent, such as by commission, omission, and otherwise : ( a ) Fails to provide VALIDATION 15 usc 1692gb and PROOF OF CLAIM within thirty ( 30 ) days ; ( b ) All disclosures listed in this this correspondence ( c ) Makes a false representation of the character of the herein above-referenced alleged debt ; ( d ) Makes a false representation of the legal status of the herein above-referenced alleged debt ; ( e ) Makes any threat of action that can not legally be taken, in violation of any applicable law, such as, the law codified at the Fair Debt Collection Practices Act, Will be construed to be Respondents tacit acceptance of the terms and condition stated herein. In which case RESPONDENT agrees to : ( f ) Voluntarily report this account to all consumer reporting agencies as paid as agreed ; and, ( g ) Voluntarily waive all claims against Claimant, their Agent or Heirs with prejudice ; and, ( h ) The matter regarding the alleged debt is finally and totally settled ; and, ( i ) Voluntarily admits the Claimant is the depositor for this account, that Respondent risked none of their assets at any time regarding this account and that they failed to disclose these material facts to Claimant ; and, ( i ) Voluntarily report the date of last activity on this account is the date of this notice.
Furthermore, RESPONDENTS failure to Cease and Desist in accordance with the requirements of the FDCPA and other related law, and/or satisfy the above terms and conditions, constitutes RESPONDENTS Breach of Duty and voluntary agreement to compensate Claimant, by certified mail, with a cashiers check within thirty ( 30 ) days of the date of billing by Claimant, their Agent or Heirs, in the following amounts : I ) XXXX XXXX Dollars ( {$1000.00} ) for each communication made to Claimant or their Agent or Heirs, whether telephonically or in writing, which is not in affidavit form, by a person who has first-hand knowledge, regarding Respondents unsubstantiated claim ; and, II ) XXXX XXXX Dollars ( {$50000.00} ) for each transaction initiated by Claimant where Claimants commercial ability is impeded due to you, your agents or assigns adverse credit reporting ; and, III ) XXXX XXXX Dollars ( {$5000.00} ) for each court appearance Claimant, their Agent or Heirs makes in response to Respondents unsubstantiated claims ; and, IV ) RESPONDENT owes Claimant the balance equal to the purported credit limit on this account, plus interest and fees, for money lent; and, V ) Three times the alleged claim amount ; and, VI ) XXXX XXXX Dollars ( {$5000.00} ) per occurrence per day, for listing or reporting any information to a credit reporting repository which could be considered detrimental to Claimants credit history ; and, VII ) Punitive damages in the amount of ( {$570000.00} ) ; and VIII ) Debt Collector tacitly agrees that Debt Collector will compensate Respondent for all costs ; fees and expenses incurred in defending against this and any and all continued collection attempts ( by anyone ) regarding the above referenced alleged account RESPONDENT also agrees to : 1. Voluntarily authorize Claimant to record a UCC-1 on RESPONDENT as debtor to secure the debt owed Claimant ; and, 2. Voluntarily prove their claim as a RESPONDENT in possession of Claimant property in an involuntary bankruptcy proceeding process ; and, 3. Voluntarily compensate Claimant for ALL costs and attorneys/consultant fees ; and, 4. Resolve ALL claims by Claimant, against Respondent, et al, exclusively and finally through binding arbitration, if necessary, to enforce the above terms, conditions, fees, penalties and damages. Arbitration replaces the right to go to court except to confirm an arbitration award. The arbitration organization that is selected will apply its code or procedure in effect at the time the arbitration is filed, subject to this agreement. The arbitration will be conducted before a single arbitrator. The arbitrators authority is limited solely to the Claims between Claimant and Respondent alone. The arbitration will not be consolidated with any other arbitration proceeding. If Claimant prevails in the arbitration of any Claim against Respondent, Respondent will reimburse Claimant for any fees Claimant paid to the arbitration organization in connection with the arbitration. Any decision rendered in such arbitration proceedings will be final and binding on the parties, and judgment may be entered in a court of competent jurisdiction. This arbitration provision applies to all Claims now in existence or that may arise in the future. The arbitration provision shall survive any voluntary payment of Claimants claim against Respondent, in full, or any bankruptcy by Respondent.
This is a private communication and is intended to affect an out-of-court settlement of this matter. Conduct yourself accordingly. Should any provision on this agreement be found to not be enforceable by order of a court of competent jurisdiction, it shall not adversely affect any other provision of this agreement and reasonable opportunity and effort shall be taken to modify it to become enforceable.
Equality under the Law is PARAMOUNT and MANDATORY by Law NOTICE TO THE PRINCIPAL IS NOTICE TO THE AGENT NOTICE TO THE AGENT IS NOTICE TO THE PRINCIPAL Applicable to all successors and assigns Silence is Acquiescence/Agreement/Dishonor Executed on this XXXX day of XXXX, XXXX by, __________________________________ XXXX XXXX, Agent for XXXX XXXX You are the second party that has written a letter purporting to represent, or have as your client, PennyMac. This is Notice that I do not recognize the Respondent from which the Claimant has received a computer-generated debt collection attempt, and I must necessarily dispute part, or all, of the alleged debt until the following is received.
CREDITOR/DEBT COLLECTOR DECLARATION and PROOF OF CLAIM Please provide all of the following information and submit the appropriate forms and paperwork back to me along with an Affidavit signed In Accordance with 28 U.S.C. 1746 within 30 days from the date of your receipt of this request for validation and proof of claim.
1. Alleged Name and Address of Creditor 2. Name on File of Alleged Debtor : 3. Alleged Account # : 4. Amount of alleged debt : 5. Date that this alleged debt became/becomes payable : 6. Date of original charge off or delinquency : 7. Amount paid if debt was purchased : 8. Please attach a copy of any signed agreement alleged debtor/claimant has made with debt collector, or other verifiable proof that debtor/claimant has a contractual obligation to pay debt collector.
9. Furnish a copy of the original promissory note/agreement redacting my social security number to prevent identity theft and state that your client named above is the holder in due course of the note agreement and will produce the original for my own and a judges inspection should there be a trial to contest these matters.
10. Produce the account and general ledger statement showing the full accounting of the alleged obligation that you are now attempting to collect. Such as ; FR 2046 balance sheet ( OMB # s 2046, 2049, 2099 ), 1099 OID report, S-3/A registration XXXXstatement, 424-B5 prospectus, RC-S & RC-B call schedules 11. Identify by name and address all persons, corporations, associations, or any other parties having an interest in legal proceedings regarding the alleged debt.
12. Verified specifically, name ( s ) of person ( s ) assigned as Trustee to handle Corporations affairs and to be held accountable for the actions of the Corporation. Such as CFO and subordinates responsible for debt collections.
13. Verify as a third-party debt collector, you have not purchased evidence of the alleged debt and are proceeding with collection activity in the name of the original maker of the note.
14. Verify you know and understand that certain clauses in a contract of adhesion, such as a so-called forum selection clause, are unenforceable unless the party to whom the contract is extended could have rejected the clause without impunity.
15. Provide verification from the stated creditor that you are authorized to act for them.
16. Verify that you know and understand that contacting me again after receipt of this notice without providing procedurally proper validation of the debt constitutes the use of interstate communications in a scheme of fraud by advancing a writing, which you know is false with the intention that others rely on the written communication to their detriment a violation of United States Code TITLE 18 PART 1 CHAPTER 63 1341. Disputing the Debt, Dated this _________ day of XXXX, XXXX.
By : _____________________________________________ XXXX XXXX ( expressly all rights reserved ), Real Party in Interest, Live breathing man.
State of California ) ) ss. : County of XXXX XXXX ) Subscribed and Affirmed and having been duly sworn to at XXXX ( town/city ) before me____________________________, a Notary Public for the said county and state as above noted, do hereby state that the living man, XXXX XXXX personally appeared before me and signed the foregoing instrument. Witness my hand and official seal this_____day of____________________, XXXX.
__________________________________________ Notary Public Signature ______________________________________ My Commission Expires [ SEAL ] cc : 1. FILE 2. NATIONAL DEFAULT SERVICING 3. CALIFORNIA DEPARTMENT OF COMMERCE 4. CONSUMER RESPONSE CENTER 5. COUNTY RECORDER
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| 08/03/2020 |
Yes |
- Debt collection
- Mortgage debt
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- Attempts to collect debt not owed
- Debt was result of identity theft
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Web |
Servicemember |
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Dear CFPB, Please find my complaint against PennyMac Loan Servicing LLC ( PennyMac ) a fictitious Servicer ; XXXX XXXX XXXX XXXX XXXX ( another self-proclaimed Servicer ) XXXX XXXX XXXX ( an actual Lender who pass money to XXXX XXXX XXXX XXXX from their table funding pool ) and XXXX XXXX, XXXX. ( former Lenders Processing Services/XXXX ) the actual Servicer who pass money to borrowers for the closing acting under glimpse of fictitious Lenders like XXXX XXXX XXXX XXXX who never funded or sold any loans.
I many times contacted PennyMac to obtain a very basic information the name of the Seller who sold my loan to PennyMac ; proof of payment of value for my debt as required by UCC Art. 9-203 and MI Conveyance of Real Property Sec. 565 ; the name of the Trust which holds my loan ( XXXX XXXX has no records of XXXX XXXX Pooled Security XXXX, see attached ).
PennyMacs representative XXXX XXXX lies relentlessly while fail to respond any of my my direct questions, particularly who is the Seller. Every respond is an absurd and contracting with each other lie. Because here are no Seller who can sell my loan to PennyMac. They merely stole my information from XXXX XXXX XXXX XXXX where is was codified as defaulted loan to use it for its own illegite scheme with default debt securities ( the same junk as XXXX ) Any sale requires the Seller who has a right to sell a merchandise ( here- my loan ) and a Buyer who paid value for this merchandise ( here : self-proclaimed owner/investor/purchaser of my loan PennyMac. ) But under Stockbrokers Ponzi Scheme nobody sells any loans because the banks have been securitizing data about loans ( aka Identity theft ) not debt. It is a handful of bankers who are lying to us about securitization. There is a factual and legal difference between securitization of loans and securitization of information about loans.
XXXX XXXX has been fraudulently presenting securitization of data as though they were securitizing loans and debts. That never happened, which is why all of the documents from XXXX transactions are false, fabricated, forged and backdated.
If they had securitized my loan, the language included in the note and mortgage would be sufficient, to wit : I would have consented to the resale of my loan and that the successor who purchased it would have the same rights to administer, collect and enforce as the original lender. That is what I signed up for.
But they didnt securitize my loan or anyone else loan because from their end there was no loan. From their end they made sure I received money and that money was used an incentive to issue the note and mortgage which incentive I have to return with interest to the Stockbroker who instantly made 3-4 times of profits selling data about my debt in all possible forms including defaulted debt- and placed bids against the same loans while cover it with insurance contracts.
But nobody purchased any notes and mortgages. In my situation nobody ever purchased it even at origination. Although they told me the name of a party who was defined as XXXX XXXX XXXX , XXXX - that party had no money, no access to money nor any right to any money flowing into or out of my transaction. In fact, XXXX merely collected my data to pass it to a secretive from me parties XXXX XXXX XXXX XXXX and Stockbrokers ( XXXX and other untouchable gang of bankers ) That is why the notes, including mine, were destroyed probably 95 % of them because Stockbrokers plan required them to keep all revenue generated by their scheme not just some of it. So they needed to substitute data for documents. Every scanned image is data. And those images can be copied indefinitely. But I can only have one signed original note. The banks are tired of being restricted to selling my loan once, so they developed a plan to sell the data from my loan dozens of times but creating a database in XXXX XXXX, XXXX where my data for broken into millions of pieces and sold as unsecured Certificates ( not loans ) by XXXX XXXX.
The analogy is the atom. In the legal world you can only sell the atom once. But XXXX XXXX figured out a way around that. They sell information about ( i.e., data ) the protons, electrons and nucleus along with a variety of other behavioral characteristics of those physical elements but they never say they are selling the atom even though their collective sales of information about the everything composing the atom is equal to dozens of times the price of the atom. By using this fictional strategy they can say they never sold or bought the atom and therefore any liability arising from purchasing or selling the atom doesnt attach to them. Again, XXXX securitized data not debt.
That means that neither mine of anyone else loan, like that atom, has never moved and was not in fact a loan and there is no loan agreement because nobody agreed to become my lender.
So far the investment banks have been pretending to be lenders when they are not and they would fight to the death if I sue them as lenders. This is why XXXX XXXX XXXX repeatedly lies that they are merely banking institution for XXXX and PennyMac. Their defense would be that they are not lenders and as proof they would swear they have no interest in my loan. And they would be right. Because no single Company has my loan as their asset as required by GAAP, UCC Art 9-203 ; and MI Chapter 565.
They made a ton of money selling information about my loan in the form of derivatives, hedge contracts, insurance contracts etc. On average they made {$12.00} from every {$1.00} they gave me. But they never paid me one penny for my role in their scheme of securitizing data. Which is unpaid servitude commonly known as slavery. A handful of bankers uses false appearance of debt information about which they sell in giant proportions to enslave the entire World who transfer their wealth thinking they repay a debt to a fictitious creditor while create a tax-free revenue for Investment Banks who is not shy to steal homes with forged documents by weaponizing US Court system.
Whatever money I received from XXXX XXXX XXXX and other Stockbrokers, they lured me into promising to pay it but little did I know that I would be paying companies with financial interest in my transaction which I mistakenly think is a loan. My LOAN HAS NOT BEEN SOLD BECAUSE THERE IS NO LOAN.
XXXX did this by converting from public records to digital private records which means that management of any given company can claim anything and nobody is the wiser unless someone does an audit and understands what theyre looking at. By directing everyones attention to images they are directing everyone to data instead of documents. This is why PenntyMac had NO documents about my loan except payment history which they can retrieve from XXXX XXXX, XXXXby using a very limited access and ligin The rest was emailed to PennyMac on XX/XX/XXXX as IMAGES via PDF file by XXXX XXXX XXXX XXXX.
There is nothing legal about what the investment banks did to investors and nothing legal about what theyre doing to homeowners. But they have convinced most judges, regulators, lawyers and consumers that their practices are merely an accurate presentation of the truth and so the deficiencies occur without harm to the system or to investors or homeowners. Nothing could be further from the truth. Just look at public complaints against so-called Servicers and it is very clear that these Servicers create a mess with borrowers " loans '' because they do not service anything, just pretend.
Investors are harmed because they unknowingly bought into some highly risky unsecured junk bonds and then signed away their right to do anything about it.
Homeowners are harmed because instead of getting the protections of the truth in lending Act and other federal and state statutes I was left hanging in the wind, with a fake loan agreement in which the players on the other side had no stake or incentive to make the transaction successful. In fact the loan agreement failed to deliver a lender.
Quite the opposite. XXXX XXXX knew the transaction was toxic and they bet on it and the worse the odds the more money they made. This is why they made it worse by internally defaulting performing loans ( this is how PennyMac was able to steal my information from XXXX XXXX XXXX XXXX my loan was placed in default as soon as I signed for it ) This is why PennyMac is unable to name the Seller who purportedly sold them my performing loan, which was not available for sale. Because here are no Sellers since here are no loans. All that PennyMac purchased ( read : stole from XXXX XXXX system ) was information about my loan which was declared as defaulted.
Since Mr. XXXX XXXX lies relentlessly ; refuses to address my questions and insists that PennyMacs position did not changed, I demand a full and honest investigation into this matter, based on material evidence I provided many times. ( additional attached ) I respectfully demand Mr. XXXX and PennyMac to explain which particular position has PennyMac to lawfully collect from me a debt since PennyMacs positions are always different and contradict with each other.
1. On XX/XX/XXXX XXXX XXXX XXXX, XXXX ( former XXXX XXXX ) claimed to be owner of my Note. This is a lie.
2. On XX/XX/XXXX PennyMac claimed to be owner/investor who purchased my debt from someone whom neither XXXX XXXX, XXXX or PennyMac can not identofy. This is a lie. Investors do not buy loans or Promissory Notes, they buy unsecured certificates backed by securitized borrowers data from Investment Banks.
3. On XX/XX/XXXX XXXX said that owner/investor is XXXX XXXX.
4. On XX/XX/XXXX PennyMac said that owner/investor is PennyMac and my loan is in XXXX XXXX Pooled Security XXXX. According to XXXX XXXX website, here are no Pooled Security XXXX. XXXX, a purported and unlawful mortgagee also has no records of such pooled security. XXXX, whom PennyMac appointed as a Trustee for non-existing Trust never responded to my inquiries to provide me a validation of standing of my loan.
5. On XX/XX/XXXX PennyMac insisted that PennyMac purchased [ my ] loan and was now both creditor and servicer ( who apparently servicing something on behalf of investors, who is also PennyMac ).
6. On XXXX XXXX Mr. XXXX insisted that PennyMac is an Issuer of XXXX XXXX securities, which are pooled into Trust XXXX ( non-exist ) where XXXX XXXX XXXX XXXX, a purported Trustee ( who can not identify a Trustor of this Trust and tell who appointed XXXX as Trustee ) whom PennyMac transfer my payments to be remitted to Investors ( here : PennyMac ). In the same letter Mr. XXXX claimed that XXXX XXXX does not sell performing loans, only if they are several months delinquent. Yet, PennyMac was able to buy my loan form some secretive Seller while my loan was not availale for sale since it was never delinquent ; issue XXXX XXXX Securities backed by my loan ; pool them in some non-existing Trust three years too late under IRS Rule 840G ; and collect my payments to pass them to Trustee XXXX just to get them back to investor PennyMac.
7. On XX/XX/XXXX XXXX XXXX XXXX XXXX ( who is the actual Servicer and a representative to the real Lenders- Investment Banks filed a legal action against PennyMac claiming that PennyMac stole from them information about loans to use for their own system, where PennyMac uses performing loans data as delinquent loans to defraud investors.
8. PennyMac filed their own legal action against XXXX XXXX XXXX XXXX where PennyMac insists that the owner of the loans is XXXX XXXX which contradicts with PennyMacs prior statements that the owner is PennyMac.
9. On XX/XX/XXXX XXXX XXXX Vice President XXXX responded to XXXX XXXX and informed him that the Issuer of securities pooled in some mysterious Trust is XXXX XXXX XXXX. Which contradicts with PennyMacs statement about their issuers capacity.
10. On XX/XX/XXXX PennyMac announced that it has completed an agreement for new servicing advance financing through PNMAC XXXX ISSUER TRUST ( the Trust ), an indirect, wholly owned subsidiary of XXXX. Under this agreement, the Trust has issued new XXXX Servicing Advance Notes. The structure enhancement, which has been in development since early XXXX, will provide XXXX enhanced liquidity to directly support its servicing advance obligations to XXXX XXXX and its security holders.
Which completely contradicts with Mr. XXXX XXXX statements ( read : relentless lies ) that PennyMac is owner/investor/buyer of my ( or anyone else ) loans who issued some XXXX XXXX Mortgage Backed Securities which PennyMac obviously has no rights to do.
In other words, ALL PennyMacs positions in relationship to my loan are unsupported, false and contradicting with each other lies ; and I demand PennyMac to provide me a proof, along with evidence of PennyMacs ownership of my debt and their rights to collect.
First and foremost, I demand PennyMac to identify the Seller of my loan to PennyMac ; and this Sellers legal rights to sell my loan. According to the legend, the original Lender was XXXX, who passed ( read : never touched anything in my loan at all ) it to XXXX on XX/XX/XXXX, or my closing data. In fact, this entire transaction was handled by XXXX XXXX XXXX XXXX ServiceLink who passed me a one-time payment from XXXX XXXX XXXX and other Stockbrokers for my financial services such as issue of security called Promissory Note.
The reason why my loan was never pooled with any XXXX XXXX XXXX is because Stockbrokers and XXXX XXXX declared it as a delinquent debt from the origination to issue Private Label unsecured trash Bonds ; purchased insurance contracts were payable not to the investors nor even for their benefit but rather for the profit of the investment bank who purchased it and place bets against the very same certificates by the same Stockbrokers claiming that the certificates would decline in value. The decline in value is based upon a contractual provision that gave Investment Banks the sole right in its sole discretion to declare the event.
This is why Default Debt buyer PennyMac was able to steal my information from XXXX XXXX and now try to get a taxpayers bailout claiming Servicer Advances which are also a huge lie to cover for XXXX XXXX fraud.
PennyMac did not make any advances. They never did and they never will. They said they did but they didnt. If you read the prospectus carefully you will see that the money from investors is divided into three parts.
The first part is the purchase of a certificate that promises payments to the investor based upon a formula that is independent of any homeowner debt, note or mortgage. It does not commit the Investment Bank to using the funds in any particular way. But the payments are partially indexed on the performance of an arbitrarily chosen group of loans that are not owned by anyone. This group of loans are intentionally internally defaulted to make this even occur to get insurance payments for their bet against this group of loans.
The second part is the establishment of a pool of funds controlled by the Investment Bank which also does not have any restrictions as to its use. The prospectus reveals that investors may be receiving payments out of the pool of funds, which obviously comes from their own money ( aka Ponzi Scheme ).
This is the source of what is labeled as servicer advances. By labeling these payments as servicer advances, and by providing that servicer advances will be paid to the master servicer ( i.e., the Investment Bank ) the so-called securitization scheme creates another Profit Center.
Investment Banks can claim return of servicer advances that they never advanced. By doing that they not only create the profit Center but they also able to claim that it was not Revenue for tax purposes. A lot of the bookkeeping, financial reporting and tax reporting is based on this strategy.
In my opinion it is not legal. It is not legal from the perspective of me as a homeowner, who gets no credit for any payments or profits made in the scheme because nobody maintains an account in which the homeowners debt is claimed as an asset ; this results in literally no place to credit the homeowners debt for incoming payments and profits that actually offset any potential liability of the homeowner.
In other words, an Investment Bank receives a windfall of profits by selling information about my loan while I have to work hard during 30 years to return the only compensation I received for MY services to Investment Banks issue a security called Promissory Note plus interest. In other words, XXXX XXXX XXXX via XXXX XXXX passed me {$130000.00} for a property appraised at {$140000.00} ( means this is the amount in data sold to investors XXXX XXXX times as trash bonds ) while I get no singe cent from this profits, no reduction of my debt and repay my only compensation plus about $ XXXX on top of it. This is the worst slavery this World ever had.
The third part exists by implication. The normal agreement ( prospectus ) would provide for a specific use of proceeds from the proceeds of an offering of any Securities or certificates for mortgage bonds. This is absent.
The reason that it is absent is because the balance of the funds are pure profit to the Investment Bank. This is because of the second tier of a yield spread premium that is not widely understood in legal circles because in legal circles they mostly have no experience or knowledge of Finance.
The investment bank has complete discretion as to what to do with the money that investors have paid them something that never exists in the offering of securities to investors but does exist in so-called securitization plans. This is the holy grail for investment banks issuing securities in the name of nonexistent entities. Instead of getting their normal fee of at most 15 % of the proceeds, they get it all. 100 %.
They issue certificates in the name of a trust that does not exist. The actual Trust Agreement ( not the PSA which for my Trust does not exist ) corroborates this by stating that the trustee has only one function : to hold legal title to loan documents. The beneficiary is the Investment Bank.
And of course the role of a trustor or settlor is completely absent because there is nobody who has paid value in exchange for receiving a convenience of ownership of the underlying debt of any homeowner.
So the Investment Bank is promising to pay the investor at a rate which appears to the investor to be in excess of market rate but is far below the amount charged to homeowners. This strategy enables the Investment Bank to profit on several different levels. In addition, by placing themselves in the position of Master servicer, they were the ultimate recipient of payments received from homeowners which in many cases exceeded any planned payments to investors.
THIS IS WHY SUBSERVICERS LIKE XXXX AND PENNYMAC REFUSE TO TELL ME WHERE MY PAYMENTS ARE SENT. FIRST THEY DONT ACTUALLY RECEIVE THE MONEY AND SECOND THE MONEY IS NOT BEING SENT TO THE TRUST OR TRUSTEE.
Under current systems and processes that are generally accepted on XXXX XXXX, most Investments are held in street name. Investors do not receive any written document like a stock certificate or a bond when they buy it. Holding a security in street name means that for all practical purposes the Securities firm owns it for the benefit of an investor. THE ONLY EVIDENCE OF OWNERSHIP THE INVESTOR GETS IS A STATEMENT FROM THE SECURITIES FIRM IN WHOSE NAME THE SECURITY IS REGISTERED.
And while it is true that the law says that an investor is the beneficiary of an arrangement wherein the securities firm holds title in trust for the investor, theres nothing to stop the Securities firm from trading on the existence of the certificate as if it were their own. This is how they are able to obtain insurance contracts and hedge contracts that are payable to the investment bank rather than the investors who put up the money.
This sleight of hand maneuver lies at the center of what is falsely labelled as the securitization of residential mortgage debt. The designation of a competing bank to serve as trustee of a nonexistent trust gives the scheme an institutional appearance, which in turn causes lawyers and judges, who know nothing of finance, to assume that they are dealing with an institution versus a lowly homeowner.
XXXX XXXX XXXX XXXX is not a trustee, this is why they have no idea about the Trust which holds my loan ; or who is a Trustor or Issuer. That is another label used to misdirect homeowners, lawyers and judges. A trustee is someone who actively manages the active affairs of trust property. There is no trust property. There is no trust business. And the party named as trustee doesnt even have the power to inquire as to any matter that might be called the business, assets, liabilities, income or expenses of the so-called trust.
By naming XXXX as the legal title owner for the benefit of the investment bank they are saying nothing. XXXX did not receive legal title to anything. In order to get legal title it had to be the recipient of a conveyance. That is where the banks want us to stop. But the conveyance, under all current law going back centuries can ONLY be issued by one who possesses rights to the asset conveyed to the trustee to hold in trust for the beneficiary of the trust.
Investors are not and never have been beneficiaries and that claims or arguments or implications that they are somehow, as creditors, represented by a nonexistent trust or nonexistent trustee are preposterous.
This is why there is no claimants in the foreclosures mill since the named Plaintiff usually does not exist.
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| 11/10/2020 |
Yes |
- Debt collection
- Mortgage debt
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- Attempts to collect debt not owed
- Debt was result of identity theft
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Web |
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Dear CFPB, Please find my complaint against XXXX XXXX XXXX XXXX ( aka XXXX XXXX XXXX ), the ORIGINATOR of my loan ; PennyMac Loan SERvices , LLC ( PennyMac ) a sham conduit for its concealed owners XXXX, XXXX XXXX, XXXX XXXX and XXXX who reinstated XXXX XXXX , XXXX ( XXXX ) under a different name XXXX XXXX XXXX, XXXX ( XXXX ) via XXXX XXXX XXXX, and PennyMac Loan SERvicing via XXXX XXXX, XXXX ( XXXX ) fictitious buyers of non-existing default debt which XXXX XXXX sell to investors as bets for IMAGES about someones DATA. ( identity theft ) On XX/XX/XXXX I submitted an application for mortgage with an XXXX XXXX XXXX XXXX XXXX XXXX XXXX who posed as XXXX XXXX, who never was a Lender, passed my information via chain of intermediaries such as XXXXXXXX XXXX ( actual originators ) to Big Investment Banks, particularly XXXX XXXX, one of owners of Federal Reserve Bank who is the actual Lender behind the scene, along with other Big Banks ( read : Federal Reserve XXXX who operates {$1.00} XXXX Ponzi Scheme with derivatives via XXXX XXXX XXXX and its branch XXXX XXXX XXXX ( which is Big Banks version of a fictitious mortgagee XXXX, XXXX XXXX My application was processed by XXXX XXXX XXXX XXXX XXXX owned by XXXX XXXX XXXX XXXX and XXXX, XXXX XXXX owned by XXXX XXXX XXXX ) who instantly and fraudulently placed me under undue hardship by intentionally assigning my property into Flood Zone where it never was.
As the result of this machination, I had to pay additional {$100.00} to FEMA, who allowed XXXX XXXX and XXXX to use their forms to defraud borrowers solely to extort more money and push them in foreclosures. While FEMA agreed to refund me a part of stolen money, they pocketed the rest, at least {$1200.00} plus proceeds from trades on my identity, undisclosed to me.
XXXX at all times posed as a Lender ( while it was not ) and forged RESPA documents to conceal information where I actually singed disclosures - which was in Pacific Time zone, on the cloud server owned by XXXX XXXX XXXX XXXX.
Closing on as I believed Mortgage ( aka payment to me for financial services by XXXX XXXX and its piers each of whom operate a separate securitization scheme based on same data about same mortgages ) was conducted by XXXX XXXX, who falsely posed as an Issuer of my XXXX XXXX - which is a lie. XXXX XXXX is a sham conduit for XXXX XXXX XXXX and XXXX XXXX XXXX who are the actual Issuers of bogs Title Insurance Policies - which do not cover purported mortgages with designated Lenders - while XXXX and XXXX branches XXXX XXXX XXXX XXXX and XXXX, XXXX are the ACTUAL originators and servicers of 100 % of ALL so-called loans and who intentionally destroy property Titles to serve interests of XXXX XXXX Banks.
XXXX XXXX deceptively sold me Title Insurance Policy from XXXX XXXX ( who was the actual Issuer ) - and who refuses to cover for my damages and broken by XXXX subsidiary XXXX, XXXX XXXX. XXXX XXXX pretend they dont know about this fraud - and also refuse to fulfill their obligation under the Policy they lied XXXX XXXX issued XXXX continued to act as a Lender and purported Servicer : of my loan - which I was led to believe was sold to someone ( XXXX XXXX ) who appointed XXXX as a new Servicer on XX/XX/XXXX. It was all lies.
XXXX never lent any money to anyone ; and never serviced any loans. No need to say, XXXX never sold any loans to anyone. XXXX XXXX never purchased anyones loans and never pooled them in any Trusts. This fiction is promoted by XXXX and media to defraud borrowers and investors.
According to XXXX XXXX XXXX ( which is fully based on forward looking statements WILL but never DID ) says as following : XXXX XXXX Guaranteed Stripped Mortgage-Backed Securities, which WILL be sold from time to time in one or more series, represent interests in separate XXXX XXXX XXXX Trusts ESTABLISHED from time to time.Each Trust WILL be comprised primarily of ( i ) fully modified pass-through mortgage-backed certificates. Each Series WILL be issued in two or more Classes.
Each Class of Securities of a Series WILL evidence an interest in future principal payments and/or an interest in future interest payments on the Trust Assets included in the related Trust. The Trust created for each issue of XXXX XXXX WILL be classified as a grantor trust.
Each XXXX XXXX WILL be issued and maintained in book-entry form through the book-entry system of the U.S. Federal Reserve Banks ( the XXXX Book-Entry System ). Each XXXX XXXX initially will be registered in the name of the Federal Reserve Bank of New York ( together with any successor or other depository selected by XXXX XXXX, the Book-Entry Depository ). The XXXX Book-Entry System is an electronic facility operated by the U.S. Federal Reserve Banks for maintaining securities accounts and for effecting transfers. The XXXX Book-Entry system is a real-time, deliveryversus-payment, gross settlement system that allows for the simultaneous transfer of securities against payment. The XXXX Book-Entry System is used to clear, settle and pay not only XXXX XXXX XXXX, but also all U.S. Treasury marketable debt instruments, the majority of book-entry securities issued by other government agencies and government sponsored enterprises and the mortgage-backed securities issued by the XXXX XXXX XXXX XXXX and the XXXX XXXX XXXX XXXX XXXX. Beneficial ownership of an XXXX XXXX will be subject to the rules and procedures governing the BookEntry Depository and its participants as in effect from time to time. The Book-Entry Depository will maintain evidence of the interests of its participants in any XXXX XXXX by appropriate entries in the Book-Entry Depositorys books and records. Only participants of the XXXX Book-Entry XXXX are eligible to maintain bookentry accounts directly with the Book-Entry Depository. A Beneficial Owner that is not a participant of the XXXX Book-Entry System generally will evidence its interest in an XXXX Security by appropriate entries in the books and records of one or more financial intermediaries. A Beneficial Owner of an XXXX XXXX must rely upon these procedures to evidence its beneficial ownership, and may transfer its beneficial ownership only if it complies with the procedures of the appropriate financial intermediaries. Correspondingly, a Beneficial Owner of an XXXX Security must depend upon its financial intermediaries ( including the Book-Entry Depository, as Holder ) to enforce its rights with respect to an XXXX XXXX. XXXX XXXX will not be issued in certificated form. Unless otherwise noted in the applicable Offering Circular Supplement, each Trust will issue In other words, XXXX XXXX WILL perform something IF someone sell them some mortgages. Which never happened.
People still dont believe it. Loans were not securitized but are being treated as though they were securitized.
Securitization means selling off an asset in pro rata shares to investors who get a piece of paper telling them that they own X % of the asset.
if you read Prospectuses - all of the securitization documents are forward statements meaning they are referencing a future event. And none of the securitization documents convey any ownership, equitable or legal interest in any debt, note, or mortgage. And the future event never occurs. Thats the point for the XXXX XXXX bankers.
Since they never retain any interest in any debt, note or mortgage they face no exposure to any risk of loss, and no liability for violations of federal and state statutes as issuers or lenders even though they are both. When they foreclose through various intermediaries ( usually a bank appearing solely as trustee of a nonexistent trust ) they still receive the net money proceeds but they have no loan account receivable to credit when they receive those sales proceeds.
As soon as I signed a Promissory Note, it was scanned, converted into images and passed to XXXX XXXX XXXX ( member of Federal Reserve XXXX who placed them with XXXX XXXX XXXX.
IMAGES of my personal ; data was placed into XXXX XXXX XXXX XXXX and XXXX, XXXX who provide passwords to various sham, conduits like XXXX and later fake Servicer PennyMac whose sole duties are to pose as window dressers for Federal Reserve members, XXXX XXXX, XXXX and other actual players who operate this giant scam with thin-air IMAGES based on XXXX about performance of someones DATA about a mortgages.
MI public employees fund invested over {$2.00} XXXX of its pensioners money into this fraud ; and received only electronic IMAGE on someones computer screen about performance of someones loan which is sold as performing and defaulted at the same time by different players.
ALL my mortgage payments, along with escrow money are pocketed by XXXX XXXX brokers as tax-free revenue since here is no one who has my loan as an asset on account receivable.
ALL taxes and insurances are paid by Investors money from operating funds held by Federal Reserve banks. Similarly, fake Servicers do not make any Servicers advances for non-existing Trusts. Big Banks merely return investors a part of their own capital masqueraded as Servicer advance, which is a Ponzi Scheme at its finest.
According to XXXX, they became XXXX on XX/XX/XXXX - which is a lie. On XX/XX/XXXX XXXX XXXX XXXX prepared Allonge for my Note purportedly to XXXX - which was never placed on any accounts with XXXX.
During all time in question DATA about my loan was held on XXXX XXXX XXXX and transferred to various parties multiply times, without any disclosures to me.
On XX/XX/XXXX I was approached by another branch of XXXX, PennyMac who was brough to action in XXXX by XXXX XXXX, XXXX XXXX branch of of XXXX ) whose founder Mr. XXXX is now XXXX XXXX Presdient XXXX PennyMac pretended to be a new servicer and a buyer of my loan. When I asked who SOLD PennMac my loan and when it was sold, XXXX and PennyMac exploded in absurd and contradicting lies.
After I requested help from Sen XXXX office, XXXX XXXX XXXX VP XXXX XXXX, a seasoned securities fraudster whose XXXX XXXX robbed insurers and investors from {$5.00} XXXX, lied the the Issuer of Securities backed by my loan is XXXX.
PennyMac lied that the Issuer is PennyMac - but refuses to provide me the name of the Seller of my loan ; and lied about XXXX XXXX XXXX which holds my loan as a securities.
Because no such Trust was ever formed.
The securitization of loans never happened. This means that all claims of rights or authority to administer, collect, or enforce any debt, note or mortgage are completely and utterly false if they are based upon securitization of the subject loan.
XXXX XXXX like other XXXX merely agreed to cover for Federal Reserve and its owners XXXX XXXX, XXXX, XXXX XXXX, XXXX XXXX, XXXX, XXXX XXXX, XXXX, etc - crimes.
But the XXXX XXXX PR machine has convinced virtually everyone including borrowers that the loans were securitized. And there are hundreds of appellate decisions referring to loan portfolios that do not exist but are treated as real nonetheless.
So, now XXXX bulletins and announcements are -re phrased. In order to avoid indictments and civil liability for outright lying to investors and the public, they are now referring to loan portfolios as reference pools, which were never formed since nobody sold any loans to XXXX.
Because everything is done by other parties : Big Banks ( aka Federal Reserve XXXX, XXXX and its branch XXXX and XXXX XXXX and XXXX. who never appeared in any RESPA or TILE and who must be kept hidden from the homeowners.
Investors are not even allowed to have any proof of their investment.
All that investor pay for is a nice-looking IMAGE on someones computer screen.
Regarding XXXX XXXX, it states : If issued in book-entry form, the classes of a series of certificates will be initially issued through the book-entry facilities of XXXX XXXX XXXX XXXX, or XXXX. No global security representing book-entry certificates may be transferred except as a whole by XXXX to a nominee of XXXX, or by a nominee of XXXX to another nominee of XXXX. Thus, XXXX or its nominee will be the only registered holder of the certificates and will be considered the sole representative of the beneficial owners of certificates for all purposes.In other words, only the XXXX and XXXX XXXX XXXX may distribute Beneficial Ownership Rights.Therefore, the only Beneficial Owners, in all cases, will be the Direct or Indirect Participants in the DTC that are completely managed, controlled and regulated by the DTC for its own benefit.
Neither XXXX or XXXX or PennyMac NEVER owned anyones debt simply because nobody allow them to own it ; NEVER initiated any loans because they dont have money to loan ; and NEVER serviced any mortgages since Big Banks are well aware about PennyMacs executives XXXXXXXX and PennyMac are merely a foreclosure and Title laundering vehicle for Big Banks/ Federal Reserve whose sole purpose to pretend to be a buyer from XXXX XXXX read XXXX who passed data about my loan to a new player via new password to XXXX XXXX database XXXX and PennyMac relentlessly lie to borrowers and massively commit fraud upon the Court - promoted and enabled by Judges and the Government who of course are familiar with this crime and who exactly operates it - Federal Reserve members ; XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX and XXXX XXXX XXXX via its branch XXXX - who initiate illegal foreclosures by non-existing Trusts with forged documents.
According to XXXX, XXXX XXXX XXXX, also known as XXXX and XXXX or XXXX XXXX XXXX, is a specialist United States financial institution that processes transfers of stock certificates on behalf of XXXX XXXX XXXX, the central securities depository used by the United States National Market System, which includes the New York Stock Exchange, Nasdaq, and other exchanges together with associated clearinghouses such as XXXX, XXXX, XXXX, and others.
XXXX technically owns substantially all of the publicly issued stock in the United States. Thus, investors do not themselves hold direct property rights in stock, but rather have contractual rights that are part of a chain of contractual rights involving XXXX.Founded in XXXX, XXXX was formed for the purpose of efficiently processing transfers of stock certificates on behalf of the XXXX XXXX XXXX. [ 3 ] The company is at XXXX XXXX XXXX, XXXX XXXX, XXXX XXXX, New York XXXX is a XXXX XXXX XXXXbased partnership of certain employees of XXXX.
Yes, there were securities created, issued, sold, and traded. And in fact, the indenture did indeed have references to groups of data derived from announcements by investment banks referring to the performance of those loans. But that is not securitization of loans. It is the securitization of proprietary data relating to the performance of the loans not the ownership of loans ( which is what is required to speak of securitization of loans ).
SO WHERE DID THE LOAN GO? This could be a reasonable basis for dispute i.e., whether the loan was extinguished or simply became inchoate ( sleeping ) pending a reformation of the transaction such that a designated virtual creditor was replaced with a real one as required by law.
DOESNT THAT GIVE AN UNFAIR WINDFALL TO HOMEOWNERS WHO RENEGED ON A PROMISE TO PAY? Absolutely not.
In fact, it reveals exactly the opposite.
The lender ( securities brokerage firm doing business as an investment bank ) is actually an issuer of securities that can not be sold without the cooperative signature of the homeowner together with detailed personal information of the homeowner.
The resulting sale of securities produces a windfall to the investment bank equal on average to 12 ( XXXX : 27 times to XXXX and XXXX times to XXXX XXXX times the principal paid, thus far, to the homeowner.
In other words, XXXX XXXX who owns XXXX, received at least {$20.00} XXXX revenue from trades on DATA about my loan, while merely contributed into {$130000.00} one time payment to me to bear all risks of their transactions. XXXX XXXX received at least 27 times profits trading the SAME date about my loan. XXXX XXXX XXXX about 12 times.
The homeowner is required under the disclosed part of the deal to repay the principal paid to him which means that the homeowner did not receive any consideration for the concealed part of the securitization deal.
In addition, the homeowner has unknowingly taken on the risk that the investment bank has dumped.
As a putative lender ( not really ) its sole business reason for the transaction is the issuance of securities without which it would not near lending to individual homeowners.
The more securities the merrier and the larger the windfall to the investment bank all without giving any conveyance of any debt, note or mortgage. ( You never see the investment bank as the grantee on any recorded conveyance ).
Since the investment bank has no risk of loss, it does not care about the future performance of the alleged loan transaction.
This one fact removes the basic balance between any person who is characterized as a borrower and any person who is characterized as a lender.
According to federal and state lending laws and basic common sense, the lender, as a sophisticated financial enterprise, is charged legally with determining the viability of the loan because it has a risk of loss.
Without that risk of loss, the only interest remaining is getting the borrower to submit personal data and to have the homeowner sign documentation promising to pay back the consideration ( plus interest! ) received for the concealed, involuntary participation in the securitization scheme.
In contract law, this is a classic example of a failure of an element of enforceable contract no meeting of the minds. Borrower intent + NO lending intent = no contract.
The homeowner is deprived of the opportunity to receive the benefit of bargaining for a share of the securitization scheme or not to participate at all.
Therefore my conclusion is that ( a ) the homeowner owes nothing because of contract failure and ( b ) is entitled to quantum meruit under quasi-contract law to reasonable compensation for the concealed securitization scheme that could never have existed but for the homeowners signature and personal data.
What does this mean? It means that NONE of the investors who bought or traded swaps, certificates, or other securities ever acquired any interest in any loan. None of them acquired the ownership of any debt, note, or mortgage. None of them ever acquired the legal right to administer, collect, or enforce any debt, note, or mortgage. And it means that all documents suggesting the contrary are fabricated and false.
Thus under such circumstances no servicer, trustee, trust or investor Including XXXX and XXXX XXXX possesses any right, title or interest in administration, collection or enforcement of any loan.
DUMP THE RISK : The theory behind securitization is perfectly sound, legal, moral, and politically expedient. It is intended to attract investment by reducing risk.
But XXXX XXXX took this one step further. They completely eliminated the risk. In order to do that they had to completely eliminate the loan account from the general ledger of any company that was involved in the securitization process.
The loan account was a cover for fraud. It doesnt exist.
Nobody loses money when a homeowner stops paying. And when a homeowner does pay they are contributing to bonuses and largely untaxed profit of investment banks and that is an apt description of what happens to the money when a homestead is forced into sale. NO entry is ever made decreasing the amount of a receivable because there is no receivable.
And that is the part that is completely counterintuitive to nearly everyone. It is also the reason that XXXX XXXX consistently XXXX any attempts to get discovery of information that would obviously lead to admissible evidence in court.
There are thousands of Foreclosure cases that have been pushed to the back burner for 10 years or more ( I have one that is 12 years old ) as a result of lawyers and pro se litigants experimenting with this concept.
The concept is simple. The claim brought against the homeowner either directly or indirectly asserts that the designated claimant exists in the real world and possesses a claim against the Homeowner. The homeowner says OK, tell me how you exist and how you acquired a claim against me. The Foreclosure Mail refuses to answer because it knows that the truth will XXXX the claim.
BUT by sheer force of will and perseverance and infinitely deep pockets, the investment bank continues litigating a claim that has absolutely no merit. And in most cases, because our government regulators are sleeping the cost of defending the baseless claims falls onto the homeowner who lacks the resources of time, money and energy to preserve the largest asset he/she owns.
I demand FULL DISCLOSURES from XXXX XXXX/XXXX and PennyMac WHO SOLD them my LOAN and WHOM they serviced from XX/XX/XXXX ; who are the REAL LENDERS behind my transaction with XXXX ( which based on all evidence is Federal Reserves table pool operated by XXXX XXXX, XXXX, XXXX XXXX, XXXX XXXX and other OWNERS of XXXX and PennyMac.
I demand compensation for fraud ; 20 % royalties from all trades, and punitive damages at least XXXX XXXX.
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| 06/24/2019 |
Yes |
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- Trouble during payment process
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Web |
Servicemember |
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Dear CFPB, Please find my Complaint against PennyMac Loan Servicing LLC ( PennyMac ) for fraud with XXXX XXXX XXXX ; theft of the loan ; identity theft ; conspiracy to defraud ; violation of TILA, RESPA, UCC and RICO Act ; and other misconduct.
On XX/XX/XXXX my loan was purportedly transferred to PennyMac by XXXX XXXX XXXX ( XXXX ). Both suppose to be Subservicers for the loan originator XXXX XXXX XXXX XXXX. ( " XXXX '' ) On XX/XX/XXXX PennyMac sent me a billing statement claiming that PennyMac is " owner/investor '' - which is not true because my loan is a VA loan thus is a subject of very strict XXXX XXXX guidelines ; and all documents are held by XXXX approved Custodian. PennyMac is not on XXXX-approved Custodians, nor on Subservicer 's list. See attached.
On XX/XX/XXXX I sent a Debt Validation Request to PennyMac, in accordance with FDCPA. As of today, XX/XX/XXXX PennyMac failed to provide me ANY proof ( except their empty words claiming " ownership '' of my loan.
I have reasons to believe that I am a victim of a massive fraud with XXXX securities ; Ponzi scheme, theft of the loan and identity theft, since I believe that my loan was stolen from XXXX custody by XXXX and PennyMac, both are in fact a renamed predatory lender Countywide financial who acts in conspiracy with certain investment Banks, particularly XXXX XXXX, whose executive XXXX is not CEO for XXXX. According to XX/XX/XXXX Report from House Finance Committee, XXXX XXXX, who recently paid {$13.00} XXXX fine and who was an underwriter to XXXXXXXX XXXX {$1.00} XXXX junk Securities in XXXX is currently engaged in " in an unrelenting crime spree '' - which I experienced first hands dealing with current XXXX XXXX RICO enterprise - XXXX, PennyMac and XXXX who sells my identity to predatory lender who swamped me with unsolicited refinancing offers.
On XX/XX/XXXX I requested PennyMac to validate my debt and their legal rights to collect, particularly provide me a proof of full chain of assignment as required by XXXX Guide.
PennyMac failed to provide me any proof, thus, I conclude that PennyMac is engaged in an unlawful collection activity, commonly known as racket under RICO Act.
In my request I specifically asked following questions : Debt Validation notice sent to me on XX/XX/XXXX where you informed that PennyMac Loan Services LLC ( PennyMac ), Servicer for this loan, is the current creditor to whom I owe {$120000.00} ; and the current owner/investor in loan # XXXX, ( but not PennyMac Financial Services Inc., or PennyMac Mortgage Investment Trust ; or PNMAC Capital Management, LLC, or any other PennyMac subsidiary ). According to your Companys XXXX Report, The conventional loans we acquire through our correspondent production operations are purchased, pooled for sale, sold and/or securitized on a fee-for-service basis by another PennyMac Financial subsidiary, PennyMac Loan Services , LLC, which also services most of the loans in our investment portfolio and the loans for which we retain the obligation to service. In short, PennyMac SOLD my debt to other parties which you now try to collect from me ; while you already received a payment for it. However, my loan is XXXX-guaranteed, thus not conventional and differently regulated, where PennyMac maybe a Servicer, not owner.
Since you did not attach any documents in support to your Notice which can prove that PennyMac is a legit owner/investor/creditor/beneficiary for my loan with XXXX XXXX XXXX XXXX ( XXXX ) # XXXX signed on XX/XX/XXXX ; which was sold or otherwise transferred to XXXX XXXX XXXX, XXXX ( XXXX ) as Loan # XXXX on XX/XX/XXXX ; and purportedly sold or otherwise transferred to PennyMac on or about XX/XX/XXXX or earlier as Loan # XXXX ; I respectfully request a validation to confirm if PennyMac is entitled to receive payments of {$120000.00} in the amount of {$850.00} per month. Also, you failed to provide me how this debt was calculated, which I have reasons to believe was incorrect from the origination ; and continue to be incorrect as of today.
Furthermore, PennyMac said in XXXX Report We have a strong history as a prudent steward of shareholders capital which is not true. PennyMac is in fact a renamed XXXX XXXX who created a biggest housing crisis by their fraudulent lending activities including loans issues by a fake Americas Wholesale Lender which XXXX represented as a incorporated under laws of NY while AWL was never incorporated. It resulted in trillions of $ $ $ losses for investors and taxpayers. PennyMacs President Mr. XXXX is XXXX robo-signer whose stamped signatures are currently pending in numerous bogus foreclosures across the County, which Mr. XXXX must know. PennyMacs co-owner/investor is XXXX XXXX whose entire business is based on predatory foreclosures. In XX/XX/XXXX founder of XXXX XXXX filed a lawsuit against XXXX accusing them in covert criminal conspiracy perpetrated with the specific intent and purpose of gouging enormous profits from the forced foreclosures and confiscation of the homes of hundreds of thousands of struggling families all across the United States. These facts are not consisted with PennyMacs image as a prudent steward of shareholders capital, but create the totally opposite impression of RICO Enterprise on crime-spree. PennyMac is swamped legal cases and customers complaints for fraud, dishonesty, abuses ; corruption ; and the exactly the same scheme with escrow accounts to push borrowers under hardship to foreclose which I experienced with XXXX XXXX XXXX, another branch of XXXX XXXX. Thus, a full documented validation of this debt is reasonable and supported by numerous laws since I believe I am a victim of fraud, conspiracy, corruption and a huge Ponzi scheme.
Be advised that this is not a refusal to pay, but a notice sent pursuant to the Fair Debt Collection Practices Act, 15 USC 1692g Sec. 809 ( b ) RESPA, TILA, UCC Art. 9 ; Section 401 ( a ) of the Sarbanes-Oxley Act ; and other applicable laws that your claim is disputed and validation is requested.
Please be further advised that I reserve my rights to place on hold all payments during this validation, pursuant to FDCPA which provides me 30 days to respond to your Debt Validation letter ; and 30 days to review your answer ; and RESPA 60-days allowance during Servicing Transfer, presuming that the transfer was lawful. All payments will resume in full, as agreed under the Contract, as soon as this Debt is validated. No late fees must be posted ; no harassing phone calls can be made ; and all overdue amounts must be refunded to me within 30 days from validation.
This is NOT a request for verification or proof of my mailing address, but a request for VALIDATION made pursuant to the above named Title and Section. I respectfully request that your offices provide me with competent evidence that I have any legal obligation to pay you.
On XX/XX/XXXX I signed contact to purchase a Mortgage loan, governed by UCC Art. 3, secured by a house as collateral where I was a Borrower/Mortgagor ; and XXXX was a creditor/Mortgagee. I was not informed about my real role as an Issuer/Guarantor for Mortgage-Backed Securities ( MBS ) and many other trading products ; and profits received by selling my name, my signature, my reputation, my home on the open markets several times a day, in small tranches, including but not limited to thin-air securities like Mortgage Servicing Rights ( MSR ). All of these transactions are subjects of SEC Act ; Sarbanes-Oxley Act, Federal Acquisition Regulation ( my mortgage is guaranteed by XXXX XXXX ) ; TILA, RESPA and UCC - all of which require FULL disclosures to borrowers who buy mortgages.
These disclosures were not provided to me, as well as compensation received from trades on my name and signature. No need to say, nobody offered to share profits from $ $ $ millions produced by sales of unsecured trading products. Each sale represented profits arising from my name used on loan documentation that originated the loan. Hence the profits represent undisclosed compensation that according to TILA and RESPA should have been disclosed at closing. I was never told that my {>= $1,000,000} loan would be generating $ 2+ million in profits for the bank, on top of my $ XXXX interest. Negotiations over the loan would likely be different but in any event the Truth in Lending Act requires the real players ( Investment bank ) and the real compensation ( all profits, fees and commissions ) to be disclosed to me.
( 1 ) Please provide me a copy of my Mortgage which states that I was informed and gave my consent to be an Issuer/Guarantor for Mortgage-Backed Securities using my name and my house as collateral ; who was the real player in this Transaction ( I suspect that XXXX was an intermediary who never invested a cent in this loan but to the contrary received a full benefit for their participation even before this loan was closed ). Please provide my the full amount of real compensation, including all profits, fees, commission, ect received from numerous resales and trades of myriad of various securities arose from my names used on the loan.
XXXX XXXX XXXX ( XXXX ), who was likely acting as XXXX correspondent production operator, offered me monthly payments of {$890.00} as the price for the loan. A big chunk of this payment was my escrow account which included {$1100.00} ( now {$1100.00} ) per year FEMA Flood Insurance, policy # XXXX, for properties located in a flood zone. However, based on consultation and a survey from two local Companies, my property is not even included in FEMA Flood Map, so my {$98.00} per month payment for FEMA 's Flood insurance was obviously a fraudulent attempt to extort more money. Moreover, XXXX intentionally ignored my Map Amendment Letter which I mailed them several times beginning from XX/XX/XXXX ; and did not remove Flood Insurance from my escrow account as of today, which resulted in a significant overpayment. XXXX is well-known for their deceptive servicing practices, specially manipulations with escrow accounts, which resulted in numerous Class Actions, like XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX
( 2 ) Please request from XXXX/XXXX all documents based on which my property was determined in a flood zone ; remove flood insurance from my account ; recalculate my payments ; and refund me unjustly collected money. The Map Amendment letter is enclosed.
XXXX was the original Servicer of my loan where XXXX was a Guarantor. As you know, XXXX does not directly issue, sell or buy pass-through MBS nor does it purchase mortgage loans. Instead, private lenders approved by XXXX XXXX originate loans that are eligible, pool them into securities, and issue the instruments. The bank collects mortgage payments from borrowers and passes payments to XXXX XXXX, which passes them through to investors. All transactions are strictly governed by XXXX XXXX Guide ; documents are held in a special Custodian Account ; all custodians must be XXXX approved ; all Servicers must have a Mortgage Servicing Agreement with XXXX.
On XX/XX/XXXX, XXXX claimed to be the current Note Holder and the loan is in a pooled security guaranteed by XXXX. On XX/XX/XXXX PennyMac claimed to be owner/investor in my loan with XXXX. I suspect that this information is not true since all Notes must held by a Custodian and XXXX or PennyMac are not on the list of approved by XXXX Custodians ; and under no circumstances XXXX can be a current holder on XX/XX/XXXX since they sold or transferred this loan to PennyMac about two months earlier.
( 3 ) Please provide me proof that you have rights and standing as owner/investor/third-party beneficiary or in other capacity, to collect from me on the Loan XXXX, along with copies of all original documents signed by me, such as a Copy of the Note with full chain of assignments from XXXX to all parties, including PennyMac who claims to be owner of my loan at the same time as XXXX ; the name of the original Trust where XXXX placed my loan to hold as a pooled security ( in fact, myriad of different securities ), similar to PennyMacs Subordination, Acknowledgment and Pledge Agreement as of XX/XX/XXXX, between PNMAC XXXX ISSUER TRUST ( the Buyer ), and PENNYMAC HOLDINGS, LLC, as Pledgor ; Copy of Pooling and Servicing Agreement for the Trust ; the name and contact information for the Issuer ; Indenture Trustee ; Trusts Administrator/Board of Directors ; name of Custodian for XXXX who holds documents related to my loan ; copies of Subordinate Servicers Agreement between XXXX, XXXX and PennyMac ; copies of Transfer of Mortgage Servicing Rights between XXXX and PennyMac.
( 4 ) Please also provide me a proof that my loan is still in Good Standing with XXXX and was not removed from XXXX custody by misrepresentation and deceit, similar to First Mortgage Corporations scheme to defraud investors in the sale of RMBS guaranteed by the XXXX XXXX. According to SEC investigation, XXXX pulled current, performing loans out of XXXX XXXX RMBS by falsely claiming they were delinquent in order to sell them at a profit into newly-issued RMBS. It is not a secret that PennyMac on XX/XX/XXXX issued XXXX XXXX shares of its Company where used my name and my signature on the loan as an asset/guarantee to attract investors. Please also provide me proof that I was informed about my role as a co-issuer/guarantor for PennyMacs Initial Public Offering ; and how much is my proportional share in this transaction. PennyMac expects to receive about {$190.00} XXXX using my name, my signature and my loan as collateral for this sale. Please also provide Affidavits in support of all charges ; and the full amortization of payments made on this loan, from the origination of the Loan XXXX until the present time, along with applicable interests ; all other documents required from Servicers/Owners/Investors in XXXX XXXX under XXXX XXXX Guide. If my loan was repurchased either by PennyMac or/and XXXX please state the reason why XXXXs sold XXXX securities backed by my loan ; and provide me a copy of re-purchasing Agreement along with the sale price. This is not private information since this information belongs to me as well, due to the Contract signed by me on XX/XX/XXXX with XXXX ; and disclosures mandated by many laws, rules and regulations ( 5 ) Please further explain why I owe you {$120000.00} if PennyMac even IF legitimately obtained rights to this debt already received a full benefit from their purchase, which was facilitated with other people money ( investors ) by secretly reselling my name, signature and reputation on the many times on the open market, without any TILA, RESPA, UCC disclosures about compensation received and without my consent. Moreover, PennyMac obtained additional benefit from selling shares of its Company to investors using my signature on the loan as a collateral for which PennyMac collected over {$21.00} per share, with a total amount XXXX shares, and generated over {$190.00} XXXX, none of which was disclosed to me and asked for my consent ; or shared with me as a profit from trading my name. Looks like PennyMac actually owes me a lot of money from trades, not I owe you anything.
PennyMacs demand for debt payments claiming to be owner/investor constitutes that PennyMac is a third-party beneficiary under the Contract ( mortgage ) I signed with XXXX. Lender always has higher bargaining power when they sell mortgages and have access to all borrowers information. I do not have the same options since all operations are conducted in the highly secretive manner and create an inequality which put Lender in a greater negotiating position resulting in a disproportionate level of freedom between parties. While I as a borrower/promisor comply with my obligation under the contract and pay my bills, the Promise ( original Lender ) immediately received the full benefit of the bargain. I suspect that XXXX never invested any funds into this transaction and merely worked for XXXX for a fee. XXXX also immediately received a full benefit from their investment within 30 days after they packaged loans into securities, supposedly placed them in Trusts, including their XXXX XXXX XXXX Issuer Trust ( DE Statutory Trust ) where XXXX sells its thin-air Mortgage Servicing Rights in 1031 Exchange manner, in conflict with XXXX XXXX Guide ; and sold my loan to thousands of parties thus breached their obligation to disclose that here are other beneficiarieswho are not a part of this contract but who act like they are creditor beneficiaries. I did not found if my mortgage specifically named these beneficiaries as a party who expressed their assent to my contract with XXXX as required by UCC, TILA and RESPA.
( 6 ) Please provide me proof that PennyMac is a legitimate beneficiary to my Contract with XXXX ; and at the time of Closing manifested their awareness and assent as third-parties beneficiaries who will receive benefits of this bargain, backed by my home as a security for my loan ; and provided me disclosures under TILA ; RESPA ; and other laws. I am not aware about any PennyMacs detrimental reliance either.
( 7 ) Provide me copies of Purchase Agreements between XXXX, XXXX and PennyMac to prove that my loan with XXXX was actually sold and PennyMac is a legitimate owner/investor, along with copies of any papers that show I agreed to pay what you say I owe you ; the name of Trust which currently holds my loan as a security for benefit of PennyMac ; Trust Pooling and Servicing Agreement ; as required by IRS Rule 26-860G ; and SEC Exchange Act of 1934 ; proof of Trusts valid registration with SEC and IRS Directory ( Pub. 938 ) Show me that you are licensed to collect in my state Provide me with your license numbers and Registered Agent At this time I will also inform you that if your offices have reported invalidated information to any of the 3 major Credit Bureaus ( XXXX, XXXX or XXXX ) this action might constitute fraud under both Federal and State Laws. Due to this fact, if any negative mark is found on any of my credit reports by your company or the company that you represent I will not hesitate in bringing legal action against you for the following : Violation of the Fair Credit Reporting Act ; Violation of the Fair Debt Collection Practices Act ; Defamation of Character If your offices are able to provide the proper documentation as requested in the following Declaration, I will require at least 30 days to investigate this information and during such time all collection activity must cease and desist.
Also during this validation period, if any action is taken which could be considered detrimental to any of my credit reports, I will consult with my legal counsel for suit. This includes any late fees on my loan ; any harassing phone calls ; listing any information to a credit reporting repository that could be inaccurate or invalidated or verifying an account as accurate when in fact there is no provided proof that it is.
If your offices fail to respond to this validation request within 30 days from the date of your receipt, I assume that this debt is not valid and your demand to collect was unlawful and void.
I would also like to request, in writing, that no telephone contact be made by your offices to my home or to my place of employment. If your offices attempt telephone communication with me, including but not limited to computer generated calls and calls or correspondence sent to or with any third parties, it will be considered harassment and I will have no choice but to file suit. All future communications with me MUST be done in writing and sent to the address noted in this letter by USPS.
It would be advisable that you assure that your records are in order before I am forced to take legal action. This is an attempt to correct your records, any information obtained shall be used for that purpose.
Best Regards, XXXX XXXX
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| 01/26/2021 |
Yes |
- Debt collection
- Mortgage debt
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- Attempts to collect debt not owed
- Debt was result of identity theft
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Web |
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Dear CFPB, Please find my complaint against PennyMac Loan Servicing, XXXX XXXX XXXX XXXX XXXX., XXXX XXXX XXXX ; XXXX, XXXX XXXX, XXXX XXXX XXXX and other hidden behind the scheme con artists like XXXX XXXX, XXXX XXXX, XXXX, eat who massively defraud home buyers, other borrowers and investors from trillions of dollars under their fraudulent scheme called securitization XXXX XXXX XXXX created a myth called securitization where they do not securitize ANYTHING except borrowers DATA akaidentity theft not backed by any assets. Nobody sell any loans or any parts of loans. Nobody lend any money to homebuyers.
Money for closing and all other lending are coming from Investors who lend to XXXX XXXX XXXX via short term credit used by XXXX XXXX XXXX to fund ALL loans via fictitious parties who call themselves Lenders - These money are not related by ANY homeowners transaction in in fact related to sales of securities backed by borrowers identities to other investors. Thus, the original creditors are investors who lent money to XXXX XXXX XXXX and who receive their advances after securities backed by borrowers data are sold to another groups of investors in form of bets.
So, when PennyMac say they purchased my loan they lied to defraud me an authorities, which is proven many times. Nobody sold any mortgages to PennyMac who was transformed by XXXX XXXX into a biggest lender and servicer via PR coup. PennyMac an XXXX ( former XXXX XXXX XXXX NEVER funded any loans and NEVER serviced them. XXXX is receiving a fee for acting as a Trustee for non-existing Trusts who also nee er had any relationship to anyones mortgages. Nobody confirmed they sold my loan to PennyMac.XXXX always claims that my complaints do not belong to them - while PennyMac lies that they give my mortgage payments to Trustees who distribute them to investors. LIR, LIE, LIE.
But since this lie is promoted by the Government ( resent sale of XXXX bonds to Federal Reserve is just another scam to defraud homeowners and investors ) PennyMac feels completely confident that the Government will cover for XXXX XXXX crimes, like they did in XXXX with fake Cease and Desist orders and bogus Settlement.
Most homeowners, including myself, sign documents at closing because they believe their intentions are properly presented in those documents.We were all wrong. We were not borrowing any money from fake XXXX. We CREATED money for XXXX XXXX XXXX when we submitted an application which was used as a back up for lines of credits from investors or from Federal Reserve. After than we were not dealing with repayment of any debt since it did not exist from the beginning ( the initial investors were paid after XXXX XXXX sold certificates to another group of investors ) thus we were dealing with a concealed scheme by XXXX XXXX Stockbrokers which is in part a direct fraud on homebuyers ; in part giant Ponzi Scheme ; gigantic Bucket Shop on investors and other illegal practice.
Stockbrokers do not have an interest other than a profit from the sale of securities. These brokers on XXXX XXXX have tried to pull the wool over the eyes of regulators and investors so that they still appear to be XXXX when in fact they are the only principal.
All XXXX XXXX XXXX XXXX debt buyers are merely a part of this giant mystification. The result has always been, without exception, catastrophic for everyone except the brokers who use a common theme : You cant punish us with producing apocalyptic results for finance, and your society. As a society, we are still buying into that threat. It isnt true and never was true. And so it goes.
XXXX XXXX lawyers are drafting prospectuses and agreements for Initial Public Offerings, with the guiding principles to bury anything negative under an avalanche of words. And because nobody wants to admit they did anything XXXX or foolish, investors tend to think and insist they knew what they were doing. And that is the essence of successful con jobs. The con only works if the mark ( i.e., XXXX ) adopts it as their own. People con themselves. Take XXXX XXXX XXXX for example, successfully sold XXXX XXXX and XXXX XXXX. XXXX used various names as a con man, including XXXX XXXX XXXX, XXXX XXXX, Mr. XXXX and Mr. XXXX. Compare XXXX XXXX banks tactics to use various names of XXXX, PennyMac and other actors-f0r-hire to pose as lenders and Servicers.
XXXX had multiple methods for making his sales. When he sold XXXX XXXX, he would often pose as the generals grandson, and he set up a fake office to handle his real estate swindles. He produced convincing forged documents as evidence to suggest that he was the legal owner of whatever property he was selling.
Like the mortgage meltdown ( which continues through the writing of this Complant ), in many cases, XXXX targeted people fresh off the boat who understood little English or American Culture. So they relied upon what he told them and then they imagined the rest. Some people were forced off the XXXX XXXX when they started erecting toll booths, as the new owners.
In every con job the paperwork generally has the look and feel of real documents and says, in the beginning, what people expect it to say. They are conning themselves. And the perpetrators will often point to the content of what was signed by the layman as providing that the very thing that punished the consumer was disclosed in some fine print wording buried deep within all of the documents that were signed.
For example, a loan in XXXX would always refer to the loan and would recite that the Lender was XXXX who was giving a loan of money to the borrower who was a borrower, receipt of which loan was acknowledged. That is and was the basic language for any loan for centuries until around XXXX.
That is when the reference to a loan was dropped and the documents signed by the homeowners started to change merely referred to the execution of a note and the execution and recording of a mortgage. The loan was implied because what else could it be? The success of this sleight of hand is well-known. Trillions of dollars poured through the hands of securities brokers who prospered during the worst crash since the Great Depression plus receiving trillions of dollars in bailouts and bond purchases. Everything else was reduced to rubble.
The expectation of the homeowner, including myself, was that he/she was a borrower in a loan transaction. I thought that the application for a loan was submitted to a lender and was underwritten by someone with a risk of loss i.e. a stake in the success of the transaction as a loan. I had a reasonable belief that as a loan transaction the party receiving the loan application and the party underwriting the transaction were both governed by Federal and State lending laws. As such, the responsibility for the viability of the loan, accuracy of the loan appraisal, and risk of loss was squarely on the lender.
XXXX XXXX XXXX did what they do the separated out functions so that only the part that looked like a loan was shown to the homeowner. For the most part, applications for loans were submitted through intermediaries who presented themselves as loan brokers and sometimes misrepresented themselves as lenders ( simply because they had a license to act as a lender ). In some cases, the parties accepting the applications did not legally exist. They were just names but that did not matter to XXXX XXXX brokers because they were not really making loans.
The underwriters were aggregators of data providing a service ( e.g. XXXX, now XXXX who was the one who actually processed my application under glimpse of XXXX XXXX XXXX XXXX ) ) i.e. laundering data to make it look like a pool of loans was being created for tranches ( layers ) of fictitious entities. This service was provided to the brokers through entities totally under the control of the brokers for purposes of their real business selling securities to investors. ( Does anyone really think that XXXX XXXX banks ever had any interest in lending money? ) The aggregators arranged the data in reports that gave information on thousands of transactions. They never said they were loans and they never said they owned them. But that is what everyone assumes. We are conning ourselves because we cant imagine what else it could be.
The XXXX XXXX stock brokerage firm calling itself an investment bank borrows {$1.00} XXXX on short-term credit for example using expected sales of securities as collateral. Thus these money are generated by borrowerss intent to borrow money used by XXXX XXXX XXXX as collateral. The broker then sells the securities to investors and repays the loans. In the interim, the money from the loan is used to fund, on average, around {$700.00} XXXX in transactions with homeowners. Bear to repeat, these money have XXXX to do with anyones mortgage.
The other {$300.00} XXXX is concealed trading profit. These fictitious profits occur when the broker shows a sale ( only on its own books ) of {$700.00} XXXX face value of notes for {$1.00} XXXX. That false sale occurs between a depositor who does not own the debt, note, or security agreement and a trust that legally does not exist because it has nothing in trust that was entrusted to the named trustee. the trustee has no right, title or interest in the transactions, nor any right or obligation to seek or receive any information about the nonexistent contents of thetrust or any activities undertaken in the name of the trust. ( In other words, it is not a trustee ). XXXX merely lies to homeowners, Judges and investors about its role as Trustee All entities are owned or controlled 100 % by the broker. This is the holy grail of investment banking. Selling securities without being required to turn the proceeds of the sale ( money ) over to any issuing entity because in substance the issuing entity is the broker. The extra {$300.00} XXXX trading profit is usually performed in a transaction that is both offshore and off-balance sheet so there is no report of it until the broker wants to show an increase in profits to bolster the apparent value of its own common stock trading in the marketplace.
Recent reports from the big banks that are in reality failing, indicate significant trading profits that are simply repatriating the money they stole from investors. The most notorious lie is XXXX XXXX XXXX organic growth when they repurchase its own bonds from investors - in fact investors demanded their money back due to XXXX fraud - bit this information is carefully concealed from the public, specially homeowners who XXXX is prepared to rob though the Court for additional profits.
Investors were never told all of their money would be used for the origination or acquisition of loans. They just assumed it despite concealed language in the prospectus that did not quite promise anything other than a potential, discretionary revenue stream from the broker that was often disclosed as unsecured and expressly unrelated to any obligation owed by any homeowner. Investors made this assumption because after all the brokerage firm was a broker, not a principal. They were conning themselves. Investors were NOT beneficiaries of any trust, real or imagined but they thought they were because they assumed they were.
It was later when investors ( e.g. pension funds ) discovered that the broker had no interest in underwriting loans, no interest or intent of having a risk of loss or no intent for complying with any lending statutes, rules, or even custom and practice in the lending industry ; investors were rudely awakened to the fact that they had no legal interest in enforcing anything against anyone. They had, as in every con, conned themselves with an assist from the con men XXXX XXXX brokers.
Investors were left with a Security that was virtually worthless because it was discretionary, unsecured, and based upon reports that the payor ( broker ) could issue in its sole discretion. But if they admitted all of that, they would be required to show the loss of value of the certificates ( securities ) that they had purchased which would result in devaluing the entire pension fund, which in turn would probably lead to dismissal of the fund manager.
So they sued the depositors or sellers for bad underwriting even though there was virtually no underwriting involved. The more savvy investors with more savvy lawyers received larger settlements without ever saying the whole thing as a scam because they were being paid to keep silent about the true nature of this scheme. The smaller, more unsophisticated investors with lawyers who were not well versed in investment banking and securities brokerage received as little as XXXX cents for each dollar they invested. That is what caused small banks to fail. They were trapped by the con. They too had been investors seeking a higher return.
The truth is that most pension funds are over-reporting the value of their assets. That means that at some time in the future, the ability to fulfill pension payments will be correspondingly reduced. Only by that time, it is highly likely that nobody will make the connection to securitization debt that never occurred. Even worse, the beneficiaries of pension funds and other stable managed funds still wont realize that if they are faced with foreclosure, and they all away, they are not just giving up the largest investment of their life ; they are also undermining the value of the fund that feeds them.
In the XXXX loan, the Lender had an entry on its ledger that was a reduction of cash to pay for the loan. In double-entry bookkeeping, this was followed by an increase in loan receivables by the exact same amount. And that is how the loan account receivable is created. It serves as the legal basis for asserting the existence of the loan and the account history for debits and credits throughout the life of the loan.
After XXXX no such account was ever created. If those ledger entries had been made, then the brokers would have actually securitized loans by selling off pieces of each loan to multiple investors. But that would have limited the brokers to selling the loans only once. If they sold loans more than once it would have been a fraudulent scheme bearing criminal accountability. So they didnt sell them and that means they didnt securitize homeowner transactions, which were not loans in the first place.
The brokers paid homeowners money. That much is generally true ( although questionable in refis ). But the brokers wanted no part of losing money if the homeowner failed or refused to make a scheduled payment. They had no risk of loss. They had no loan account. But by concealing the true nature of the business scheme i.e. the creation, issuance, sale, and trading of securities and using the homeowners knowledge against him/her, they convinced everyone that the execution of the promissory note was one exchange for the nonexistent loan. The securities were based upon the illusion of a loan transaction but certainly not the reality of a loan transaction.
Adding insult to injury then, the homeowner having played a crucial role in the illusion of a loan is then tricked into giving back the only reason why he/she entered the transaction in the first place the receipt of money.
In short, that is a return of the only consideration for involuntary participation in a securities scheme about which the homeowner knew absolutely nothing. Worse yet, the homeowner believed it was a loan and so agreed to pay interest and fees on top of returning the only consideration for the deal. This left the homeowner with negative consideration for the deal, plus concealed risks in the form of unmarketable loans, inflated appraisals, and the complete inability to reach anyone with ownership or authority of the transaction to work out arrangements that were necessary to correct the situation.
With no loan account that could be presented without committing perjury and fraud, the brokers hit upon the scheme of using still more intermediaries who were called servicers. The servicers did virtually nothing. All receipts are collected via third-party vendors who are completely controlled by the brokers. The servicers are hired to interface with homeowners, reassure them that their loan is under management, and present a payment history about which they know nothing because they never collected a dime from the homeowner.
Servicers are always thinly capitalized entities that can be thrown under the bus for accounting or servicing or collection irregularities. They hire employees or contract employees who know less than the servicer. These people are presented as witnesses in foreclosure proceedings. Such people are the only witnesses at trial in foreclosure cases. Theyre not legally competent and travel along a very thin line between deception and perjury.
The payment history is actually printout from a data record prepared for enforcement only by third-party vendors who process payments from homeowners.
Those payments are scheduled, but not due since they are paying off a loan account that does not exist. You will never find any payment history that purports to be the ledger of any creditor i.e., the party who is named as claimant, beneficiary, or plaintiff in foreclosure. That is because no such ledger exists.
This was 20 years ago when the Federal Reserve skipped regulation in the mistaken belief that market forces would make any needed corrections. XXXX XXXX who was head of the Fed has admitted that was a mistake. It is now up to homeowners and their attorneys to fight these foreclosures at every turn and win. This task will be made far easier if changes in the administration in Washington DC result in an acknowledgment of the obvious facts : the money paid to homeowners was not a loan. It was compensation for involuntary participation in a business scheme. Market forces dictated the amount of that payment. Brokers have no right to recover it.
Investors and homeowners are in the same boat. the intention of both was a lending transaction. Neither one of them got what they intended. Current brokers and servicers should be forced out of the picture and regulators should stop pretending that REMICs exist or that the securities issued were unregulated mortgage-backed bonds or certificates. They were never mortgage-backed. There were no mortgage loans. Those mortgages secured a promissory note that was issued without the homeowner receiving consideration.
The only deal that was completed was the business scheme of creation, issuance, selling, and trading securities. Homeowners were already paid for that. Nobody was ever legally entitled to seek or receive payments that returned that compensation. If that compensation is too high, then let the brokers come to court and file a reformation action.
I again demand to provide me the name of the SELLER of my loan to PennyMac ; a PROOF pot payment of value by PennyMac ; the name of the Company who hired PennyMac as a Servicer and whom they servicing. XXXX number for Trust th purportedly servicing ; Pay me 20 % royalties from all traded and compensation for all damages, including emotional distress.
Total {$50.00} XXXX in damages, or more
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| 11/09/2020 |
Yes |
- Debt collection
- Mortgage debt
|
- Attempts to collect debt not owed
- Debt was result of identity theft
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|
Web |
Servicemember |
|
Dear CFPB, ( cc : Congress, Senate, public media sources, consumer complaints sites, a AG offices, Courts and Judges, XXXX XXXX, President of MI XXXX XXXX XXXX XXXX CEO, XXXX XXXX, CFO, who in XX/XX/XXXX invested {$400.00} XXXX of MI public employees pensions ( including XXXX and its analyst XXXX XXXX XXXX pension in XXXX and XXXX, fictitious " buyers '' of non-existing " default debt '' ( aka bets on thin air backed images about some DATA about performance of someone ; s loan ; victims of fraudulent foreclosures ) Please find my Complaint against fictitious " Servicer '' of my " loan '' and " owner '' of my purported " debt '' PennyMac Loan Services , LLC ( former XXXX XXXX ) who on XX/XX/XXXX initiated an illegal collection from me acting under glimpse of " buyer '' of my " loan '' from someone whom PennyMac was not able to identify. According to the prior fictitious " Servicer '', XXXX XXXX XXXX, XXXX ( former XXXX XXXX ), they merely " transferred servicing rights '' to PennyMac - without any evidence of any sales or actual transfers.
According to XXXX, they became " servicers '' of my loan in XX/XX/XXXX, after my purported " Lender '' XXXX XXXX passed to XXXX " servicing rights '' after my loan was purportedly " sold '' by XXXX to someone whom nobody can identify. Nobody can provide any proof of this sale by XXXX either.
According to public records, Federal Reserve ( the actual party who operates this scam ) " purchased '' over {$2.00} Trillion of ficitious " mortgage backed securities '' from XXXX XXXX ( operated by XXXX, XXXX founder XXXX XXXX ), XXXX XXXX and XXXX XXXX - which Federal Reserve " assigned '' to XXXX XXXX ( who is actually a part of Federal Reserve ) Yet, PennyMac, who never lend any money to anyone, never serviced anyone 's loan and does not even own its Company, continues to lie that PennyMac has some relationship to my loan ( " owns '' is which is a flagrant lie to Federal Authorit Based on investigation of all FACTS, I became a victim of a biggest economic fraud operated by Federal Reserve ( read : XXXX XXXX XXXX XXXX XXXX , XXXX XXXX XXXX, XXXX XXXX, XXXX XXXX, XXXX, XXXX XXXX, ect. ) who use table funding money to initiate transactions masquerades as loans via sham conduits ( since XXXX ALL so-called " loans '' are originated via XXXX XXXX XXXX XXXX and XXXX XXXX XXXX XXXX who simultaneously sell fake " Title Insurances '' to Big Banks ' crime victims though their own sham conduit who deceptively pose as " issuer '' of title policies - which these sham conduits never issued.
My transaction was initiated by XXXX XXXX , XXXX with help from CoreLogic after I submitted an application for a LOAN via XXXX XXXX , XXXX who falsely posed as a Lender. XXXX never was a lender and my transaction was not a mortgage loan.
A group of Big Investment Banks ( Federal Reserve ) passed me one-time payment for financial services ( to wit : issue of Promissory Note and Mortgage which Federal Reserve convert into IMAGES sold to investors as derivatives ( contracts with XX/XX/XXXX who is a SOLE owner of ALL public stock in the US.
XX/XX/XXXX used table funding pool ( illegal in California ) where my PAYMENT for SERVICES was passed to me from XX/XX/XXXX to XXXX XXXX XXXX via XXXX XXXX XXXX , XXXX via fake " lender '' XXXX who never funded or services any loans.
After I performed my part of this agreement - signed a Promissory Note- it was transferred to Federal Reserve partner, XX/XX/XXXXXXXX who converted my Promissory Note into IMAGES backed by DATA about my loan, which was placed with XXXX XXXX XXXX ( FR 's version of MERS. While MERS fictitiously " owns '' all mortgages as a mortgagee, Cede fictitiously owns all publicly traded stocks in America, which are not backed by ANYTHING except nice-looking IMAGES about performance of someone's DATA about some " loan '' on XXXX 's computer screens.
Investors never purchase any mortgages or Notes, they are not even allowed by XXXX XXXX to purchase anything except CONTRACTS with XX/XX/XXXX based on derivatives ( bets ) based on information about someone's loan. Which is a text-book fraud and identity theft.
After Promissory Notes and Mortgages are scanned and downloaded into XXXX XXXX , XXXX ( XXXX ) and XXXX ( XXXX XXXX ) systems, the actual copies of documents are destroyed to allow several different parties to trade ( receive bets ) the same DATA at the same time. In other words, my signature on Promissory Note scanned into IMAGES placed by XXXX withXX/XX/XXXX brought Federal Reserve owners ( XXXX XXXX, XXXX, XXXX, XXXX - from XXXX to XXXX times profits - while I have to return my only payment ( {$130000.00} ) plus interest which is ALL pocketed by Federal Reserve members who operate this scam, as their tax-free revenue. My escrow money are pocketed, too. All taxes and insurances are paid by Stockbrokers from operating pools collected from investors after sales of derivatives backed by my data.
XX/XX/XXXX aka Federal Reserve ( which is basically the SAME company ) are modern Con Artists who use advanced and improved collection of old tricks used by various con artists, and fraudsters in the past. They just inserted more intermediaries to avoid risks Modern Con Artists created sham companies ( MERS and Cede ) who " OWN '' EVERYTHING in America - for the benefit of XXXX XXXX aka XXXX XXXX who consists of the same XX/XX/XXXX whom they " regulate '' NOTHING new - except technology and the scale of this fraud.
This mass scam became available after XXXX launch of XXXX and XXXX XXXX which provided unprecedented opportunities to defraud investors en mass.
In order to keep this scam working, Big Banks must initiate foreclosures where the main objective is to ( 1 ) launder fatally broken Titles through the Court : ( 2 ) refuse to pay investors under glimpse of " failure of the borrower '' to pay ( lie ) ; ( 3 ) initiate a new scheme with a new prey to sell more IMAGES about performance of DATA about someone's home while engineer new defaults ; ( 4 ) receive money from insurers for non-existing losses based fabricated defaults ( see {$50.00} billion baiout to AIG which went to XXXX XXXX as pure profit for fabricated by GS " defaults '' of DATA ; ( 5 ) launder money via american housing market ; ( 6 ) evade taxes ; ( 7 ) receive tax-free profits from illegal foreclosures based on forged by XXXX XXXX 's documents.
Here is how it works : Big Banks ( aka Federal Reserve ) pass money from their table funds not attached to any mortgages. Than more I research this issue, than more it appears that the source of funding is Federal Reserve table pool owned by several Big Banks ) These money are passed to borrowers via sham conduits who never had any own money and who do not even own their companies. As PennyMac 's prospectus says, the owners of their company are XXXX XXXX ( whose founder XXXX XXXX is now President of XXXX XXXX ) and XXXX XXXX XXXX fictitious " buyers '' of non-existing default debt.
Based on most recent SEC filings, one of new major owners of PennyMac is XXXX XXXX. ALL my payments are collected and processed by XXXX and cashed by XXXX XXXX XXXX via Federal Reserve.
So, PennyMac not only never " owned " of anyone 's debt, never serviced any " mortgages '' and not even own of its company. It is owned by " underwriters '' = Big Banks.
Shame " lenders '' ( actors for hire on fees ) pretend that they sell some " loans '' to investors - who never bought ANY loans and only buy CONTRACTS with Cede to see IMAGES about performance of DATA purportedly backed by someone's mortgages.
And Big Banks ( Federal Reserve ) can sell IMAGES about performance of the DATA as many times as they want, by any company who has an access to their database operated by XXXX XXXX.
XXXX XXXX repelled of Glass Steagal Act in 1999, which happened exactly after XXXX and XXXX were launched and allowed to run an entire World hidden behind our computer screens. Most users can only see that is in front of them - a flat l screen with letters and numbers. Most people do not realize that here is a XXXX behind.
And Bankers use this virtual Universe to operate a giant fraud masqueraded as " convenience of investors '' who can only see IMAGES with handsome numbers about performance of the DATA about someone's loan while this database is operated by Federal Reserve via its XXXX and XXXX XXXX XXXX who are the SOLE OWNERS of ALL Stock in America.
PennyMac never " bought '' any loans because here is no one who can sell them. ALL DATA about loans is held by Federal Reserve via XXXX and XXXX and investors can only buy virtual " Certificates '' ( contracts ) with XXXX.
These rights can be terminated without notification to or recourse by the common man.
Payment of dividends ( solely based on discretion of XXXX XXXX brokers, pursuant to these Beneficial Ownership Rights is what keeps a financial revolution at bay.
These Beneficial Ownership Rights can only be held, in name only, by Members of the XXXX. The actual legal control authority over these Beneficial Ownership Rights is maintained by XXXX XXXX XXXX as the Sole Registered Shareholder only and not to either the equity shares or the Street Name Stock that are owned by XXXX XXXX XXXX.
By written contract, XXXX XXXX XXXX will only give Beneficial Ownership Rights to those DTC Members who have purchased the Street Name Stock from XXXX XXXX XXXX.
Derivatives, as a trading commodity, are literally a figment of the imagination.
The Street Name Stock sold to XXXX Members is the 1st Derivative since the Street Name Stock has no connection to any physical assets of the company.
Without the fallacious Street Name Stock being generated by XXXX XXXX XXXX, there would be no Paper to sell to the public and the IPO would generate no money.
The public is of the belief they are buying ownership in the company but this is a lie.
At this point, once XXXX Members receive their portions of XXXX XXXX Name Stock, the IPO is announced.
XX/XX/XXXX Members owning the Street Name Stock now sell ONLY Beneficial Ownership Rights to the public.
The public buys the 2nd derivative, or 2nd figment of the imagination, and receives only the revocable and cancellable Beneficial Ownership Rights to receive the net majority of declared and paid dividends.
Regarding XXXX XXXX, it states : If issued in book-entry form, the classes of a series of certificates will be initially issued through the book-entry facilities of XXXX XXXX XXXX XXXX, or XXXX. No global security representing book-entry certificates may be transferred except as a whole by XXXX to a nominee of XXXX, or by a nominee of XXXX to another nominee of XXXX. Thus, XXXX or its nominee will be the only registered holder of the certificates and will be considered the sole representative of the beneficial owners of certificates for all purposes.
In other words, only the XXXX and XX/XX/XXXX may distribute Beneficial Ownership Rights.
Therefore, the only Beneficial Owners, in all cases, will be the Direct or Indirect Participants in the XXXX that are completely managed, controlled and regulated by the XXXX for its own benefit.
PennyMac NEVER owned anyone 's debt - simply because nobody allow them to own it ; NEVER initiated any loans because they don't have money to loan ; and NEVER serviced any mortgages since Big Banks are well aware about PennyMac 's executives criminality.
PennyMac is is merely a foreclosure and Title laundering vehicle for Big Banks/ Federal Reserve whose sole purpose to pretend to be a " buyer '' from XXXX ( read Cede who passed data about my loan to a new player via new password to XXXX/XXXX XXXX database According to XXXX XXXX XXXX and XXXX, also known as " XXXX and XXXX '' or " XXXX XXXX XXXX XXXX, is a specialist United States financial institution that processes transfers of stock certificates on behalf of XXXX XXXX XXXX XXXX the central securities depository used by the United States XXXX XXXX XXXX, which includes the New York XXXX XXXX XXXX XXXX XXXX and other exchanges together with associated clearinghouses such as XXXX XXXX XXXX XXXX XXXX and others.
XX/XX/XXXX technically owns substantially all of the publicly issued stock in the United States.
Thus, investors do not themselves hold direct property rights in stock, but rather have contractual rights that are part of a chain of contractual rights involving XXXX.
Founded in XXXX, XXXX was formed for the purpose of efficiently processing transfers of stock certificates on behalf of the XXXX XXXX XXXX. [ 3 ] The company is at XXXX XXXX XXXX, XXXX XXXX, XXXX XXXX, New York XXXX A common misconception is that 'XX/XX/XXXX' is merely a fictitious legal name used to refer to XXXX XXXX XXXX . In fact, XXXX is actually a New York City-based partnership of certain employees of XXXX. [ 5 ] [ 3 ] XXXX is a separate legal person from XXXX XXXX XXXX, which is owned by XXXX Participants, who are banks and brokerage houses, and not employees of XXXX. [ citation needed ] One reason XXXX is structured as a partnership is that each general partner can order transfers of stock registered in the name of the partnership without the need of presenting a separate corporate resolution to the stock issuer 's transfer agent or stock registrar to validate the authority of the transfer.
How XXXX XXXX Gets Control 1. Before the IPO is offered through a XXXX XXXX exchange, the offering company creates the original XXXX XXXX that represents true ownership of the company as it exists prior to the IPO being formalized and offered for sale.
2. By SEC law and XXXX XXXX procedure, before the IPO is released for sale, a binding contract MUST be executed with at least one XXXX XXXX XXXX, all of which are owned and controlled by the XXXX.
3. After Contract execution and prior to IPO offering release, all original hard copy shares representing actual equity ownership of the company must be physically delivered to the exchange ( s ) conducting the IPO.
4. After receipt of the original equity shares, the exchange declares itself the Sole Depository for all hard copy shares.
5. The exchange is now the Legal owner of the company.
6. At this point, the common mans ability to own actual equity in the company ceases to exist.
7. Pursuant to the Securities Act of 1934, the SEC notifies the exchange that it can not simultaneously own and trade the equity shares.
8. The SEC notifies the exchange that it can transfer ownership of the equity shares to the Nominee of the exchange.
9. As the sole Nominee for all exchanges, the equity shares are transferred to XXXX XXXX XXXX.
10. XXXX XXXX XXXX now becomes the Sole Registered Shareholder of the company.
11. The exchange retains physical custody of the equity shares during the IPO offering period.
12. XXXX XXXX XXXX, as the Sole Registered Shareholder and for the purpose of giving the exchange something to sell as a shill commodity, creates one ( 1 ) electronic only share certificate referred to as the Street Name Stock.
13. The Securities Act of 1934 as amended requires that all traded shares must be delivered to the buyer in 1 to 3 days.
14. Therefore, XXXX XXXX XXXX, electronically trades only the Street Name Stock on the XXXX- owned exchange.
15. XXXX XXXX XXXX trades its Street Name Stock on the exchange floor as the meeting place for all sales and trades.
16. The XXXX keeps its trading protocols private such that outside parties are precluded from discovering what goes on behind closed doors and keeps the public from becoming aware of these acts.
17. By written contract, XXXX XXXX XXXX may only sell its electronic only Street Name Stock to direct and indirect Members of the XXXX on the XXXX owned exchange trading floor.
18. Members of XXXX may only trade and sell their electronic Street Name Stock to other XXXX Members or to XXXX XXXX XXXX.
19. Therefore, this closed-loop sales system keeps the electronic Street Name Stock in the XXXX Member family and directly under the control of XXXX XXXX XXXX.
20. Only XXXX XXXX XXXX, as the Sole Registered Shareholder who actually owns the company, can give Beneficial Ownership Rights to any subsequent buyer.
What Are Beneficial Ownership Rights 1. Beneficial Ownership Rights represent the right to vote by Proxy when that Proxy is ONLY authorized by the Registered Shareholder.
2. Beneficial Ownership Rights are those revocable and cancellable rights to receive the major portion of a dividend, if declared. Beneficial Ownership Rights have nothing to do with Ownership of the Actual Equity Shares that represent Actual and Perfectible Ownership in the company.
3. This extremely important clarification between Actual and Perceived Ownership of Equity Shares representing Ownership in the company is the basis for the XXXX XXXX System being able to bilk and acquire most of the wealth in the Country.
4. Thousands of these transactions take place each business day are done so in the black and go unchallenged by the American Public.
5. This is the primary reason that, since the majority of the American Public typically doesnt read or study and is ignorant of this legal reality, XXXX XXXX XXXX has basically been able to acquire and steal the ownership of America.
6. The American Public, thinking they are buying Actual Equity Share Ownership, is being mislead and set up just as American homebuyers were in the Mortgage Crisis.
7. Most Public Buyers accept the assurances of their Brokers and others and never read or research to ascertain the factual reality that they are buying NOTHING of actual collateralized value.
Thus, PennyMac continues to lie to cover for this biggest fraud while MI XXXX XXXX lost over {$2.00} Billion ( {$400.00} million to fake " default debt " buyers ) and homeowners continue to lose their homes to illegal foreclosures and return their only payments for services masqueraded as " loans '' to the biggest criminals ever existed in the World.
|
| 06/28/2020 |
Yes |
- Debt collection
- Mortgage debt
|
- Attempts to collect debt not owed
- Debt was result of identity theft
|
|
Web |
Servicemember |
|
Dear CFPB, DIFS, XXXX, Federal Reserve Please find my complaint against PennyMac Home Loan, LLC, XXXX XXXX XXXX and XXXX XXXX XXXX who operate a massive fraud with XXXX XXXX 's securities backed by thin-air borrowers ' data masqueraded as " backed by loans '' - which are currently SOLD to Federal Reserve by XXXX XXXX en mass, without any Notices to homeowners.
Since XX/XX/XXXXXXXX Federal Reserve purchased at least {$700.00} Billion Mortgage Backed Bonds from XXXX, including XXXX XXXX. But loans or Trusts where these loans are held as securities were never mentioned in this PURCHASE. Moreover, no Servicer or Trustee was mentioned as a part of this sale According to a XXXX tale, XXXX are backed by mortgages ( aka debt ) which are pooled into mysterious Trusts who issue certificates which are sold to Investors and guaranteed by XXXX ( who are now acting as " Owners/Investors '' who SELL their XXXX bonds to Federal Reserve.
In other words, XXXX purchased a loan which was pooled into XXXX XXXX 's Trust, became a creditor an Investor in this LOAN, guarantee timely payments to investors ; and now sold their parts of the loans to Federal Reserve who became the new owner of the debt backed by XXXX ; and therefore a new Creditor. All without any notices to the homeowners.
But first thing first - who sold these XXXX to XXXX? Was it a Trust which XXXX XXXX guarantees? So, they are guarantors/investors in their XXXX bonds?
When the next question is - who were the OWNERS of the debt who issued and sold XXXX XXXX certificates backed by mortgages?
What will happen to the loans in XXXX XXXX Trusts if XXXX SOLD their XXXX bonds purportedly backed by loans, to Federal Reserve, meaning a change of ownership of the debt?
Does it mean that when XXXX sold their XXXX to Federal reserve, these loans must be removed from XXXX Trust and assigned to Federal Reserve as a new Creditor? By whom? XXXX? Trustee XXXX? Servicers? or owners of the Trust - who are always remain undisclosed? Someone must be a beneficiary who settled this Trust to be able to issue XXXX backed by loans pooled into these Trust and sell them to XXXX XXXX.
Shouldn't TRUSTS, who suppose to be an owner acting on behalf of investors, be involved in these sales of XXXX to Federal Reserve? And remove them from their assets and accounting books as paid in full since they are SOLD? Why borrowers are not informed?
Why " creditor/investor/owner/issuer " PennyMacLoan Servicing LLC who purportedly " purchased '' my LOAN from someone whom PennyMac is unable to identify, was not mentioned in transaction with Federal Reserve ? If PennyMac is the OWNER of my debt who collects from me payments to be distributed to Investors ( here : PennyMac ) who purchased certificates backed by my loan pooled in some XXXX XXXX Trust, they must be a part of the deal with Federal Reserve, who is now a Buyer of XXXX XXXX XXXX bonds.
Shouldn't Trustees ( here XXXX XXXX XXXX XXXX ) be involved in this sale since they are purportedly responsible for the collateral of the XXXX?
But Trusts or Trustees are not even mentioned in this sale, as well as XXXX who can not even tell who sold them my loan.
So, if XXXX are no longer " investors '' or " owners '' of the debt - means they have no interest in loans - when who is? Is an investor/owner now Federal Reserve? But homeowners, including myself, never received any notices about change of OWNERSHIP of the debt.
PennyMac continues to pretend that they are " servicing '' some undisclosed " Trust '' on behalf of investors - ( here : PennyMac, as they claimed ), while all evidence - including recent case filed by XXXX XXXX who claims to be a Servicer for XXXX XXXX of all loans, and who operates ALL financial activities such as collection of my payments ( not PennyMac ) ; manipulations with escrow accounts ( not PennyMac ) ; sending Default Notices ( not PennyMac ) ; approving forbearances ( not PennyMac ), ect.
All that PennyMac has is an access to XXXX XXXX system where they can print some accounting entries done by XXXX XXXX and defraud homeowners about " ownership '' of the debt - which PennyMac never had.
PennyMac never mentioned to me that the recipient of my payments ( presumably a Trustee for the Trust ) is no longer receive money to distribute it to XXXX Investors because the Investor now if Federal Reserve whom XXXX XXXX SOLD their interest in my loan. So, whom PennyMac is now " servicing? '' Summary of Facts. On XX/XX/XXXX I approached a mortgage company, XXXX Mortgage XXXX XXXX XXXX XXXX in XXXX who pretended to be a Lender who sell mortgage loans. In fact, XXXX was not a XXXX, and not even originator of my loan. XXXX merely collected my information to pass it to XXXX XXXX XXXX, XXXX Wholesale branch in XXXX XXXX XXXX, where XXXX originated this transaction. It is evident from my Application which both XXXX and XXXX signed on someone ' server located in XXXX XXXX. In other words, XXXX started to mislead and defraud me from day XXXX about their role as a " Lender '' whom I will owe a substantial amount of money for 30 years period, as well as about the real nature of my transaction - a payment to participation in a securitization scheme where I will be an Original Issuer of a Promissory Note used by Stock as a base of their Ponzi Scheme. Thus, my contract with XXXX was originally void since XXXX was not a real party.
On XX/XX/XXXX XXXX sent me a Commitment Letter which stated that I will buy XXXX XXXX XXXX, XXXX, 30 years fixed. I did not know that XXXX XXXX former XXXX XXXX XXXX XXXX operated by XXXX XXXX XXXX is another intermediary for a Stockbroker ( here XXXX XXXX XXXX XXXX BOA ) who passed funds from XXXX 's pool ( aka table funding, illegal in California ) to me via sham conduits XXXX and XXXX, as a one-time payment for my financial services such as being an issuer of Promissory Note and a Mortgage which will initiate a securitization scheme with XXXX times more profits to Stockbrokers ; and for assuming all risks and hardship to be a main part of in Big Banks ' scam with data-backed securities which is specifically designed to push borrowers in foreclosures as soon as possible to launder fatally defective Titles though the Court. Thus, while I intended to get a loan, I was lured into a totally different, highly illegal dangerous transaction - {$12.00} Quadrillion Ponzi scheme operated by XXXX Banks. Thus, my contract with XXXX for not for a loan, but for t financial serves from me as an XXXX of XXXX Note and Mortgage.
On XX/XX/XXXX XXXX gave me forged RESPA disclosure where XXXX removed XXXX XXXX when I signed it and never mentioned any other parties such as XXXX Knight, XXXX, Bank XXXX XXXX, XXXX, First XXXX XXXX XXXX XXXX XXXX, XXXX. except XXXX as a Lender ; and XXXX XXXX as a XXXX insurance issuers. Both were fake parties. The " Lender '' was a pool of money collected by XXXX XXXX from investors known as table funding ; and the Title Insurance Issuer was XXXX - who never appeared in any documents in my closing.
On XX/XX/XXXX, my closing day, XXXX, who still acted as a XXXX, committed XXXX fraudulent transfers without disclosures to me. First, XXXX transferred by loan to XXXX as a XXXX. XXXX has no rights to accept any loans in XXXX since this private off-shore operated company has no business registration in the State of XXXX. XXXX can not be a Mortgagee for XXXX XXXX loans since XXXX only serves its members and XXXX XXXX never was XXXX member, thus have no Agency relationship. XXXX never acknowledged its status as a Mortgage are required by XXXX. According to the laws of XXXX, mortgage is a contract and must be signed by ALL parties of interest. XXXX never signed my contract with fake " XXXX '' XXXX, never confirmed its status as a XXXX, and never obtained my consent to have XXXX as a XXXX.
Another fraudulent transfer was an XXXX to my Note which stated that XXXX transferred its " interest '' to XXXX XXXX Loans, XXXX by Collateral Shipper XXXX XXXX on XX/XX/XXXX, or at the closing or soon thereafter. Bear to repeat, XXXX never signed any mortgage with me ; never disclosed its presence as a Lender as required by RESPA ; and not even confirmed this transfer on XX/XX/XXXX. According to XXXX, they obtained " Servicing '' rights from XXXX on XX/XX/XXXX, and it was their first involvement in my loan.
XXXX also did not signed my Mortgage as a party of the contract. It merely mentioned that XXXX is a " XXXX '' while they were not. So, the only party who appeared at the Closing and signed this contract was me.
My loan was purportedly " pooled with XXXX XXXX XXXX '' which holds it now as a securitiy for the benefit of investors ( here, for PennyMac ).
Trusts do not appear by itself and must be established by someone who have rights to pool any loans into it as a collateral. XXXX simply had no time to create any Trusts since they immediately passed its interest to XXXX and XXXX at the same time, which was not only a fraudulent transfer, but it was not even confirmed by any of recipients of interest of my debt. XXXX had no rights to be a XXXX, XXXX repeatedly deny its involvement until XX/XX/XXXX.
Here is no evidence if anyone created any Trust who can appoint XXXX as a Servicer who passed " servicing rights '' to XXXX who passed Servicing Rights to PennyMac.
On XX/XX/XXXX PennyMac appeared in my loan and started to lie relentlessly that they " purchased '' my loan from someone whom PennyMac can not identify ; and now PennyMac is " owner/investror/purchaser/creditor/issuer '' of XXXX XXXX XXXX and a Servicer who collects my payments for the benefit of investors ( here PennyMac ) which are distributed to PennyMac by Trustee Bank XXXX New York XXXX who was appointed by someone who should establish the Trust.
All PennyMac lies were rebutted by XXXX XXXX who has no idea who issued their Bonds - and said it was done by XXXX ; who does not know who sold my performing loan to PennyMac while PennyMac insisted that XXXX XXXX does not sell performing loans.
But more importantly, PennyMac 's lies were confronted by By XXXX XXXX who sue PennyMac for stealing borrowers data from their secretive system where XXXX was merely given a password for a limited access. XXXX is a sham conduit designed to advance the false illusion that they represent creditors. If you look at their financial statements you can easily see how the XXXX XXXX banks basically keep them afloat just to preserve the illusion of a corporate veil.It is very clearly stated in XXXX 's XXXX.
Based on all evidence, including XXXX XXXX 's sale of XXXX bonds ( which are purportedly " owned '' by Investor PennyMac ) to Federal Reserve without any participation of Trusts, Trustees or even " owners/Investors '' PennyMac it is evident that XXXX making False Claims as Servicers : XXXX XXXX, the king of fabricated documents is behind XXXX XXXX of all servicing records.
XXXX and XXXX XXXX both are renamed XXXX XXXX XXXX claiming to be servicers are not servicers although they perform some servicing functions as clients of XXXX XXXX.
New Servicers simply log on to the XXXX XXXX system to create an impression of " sales '' of the debt - which never happened since loans never moved from XXXX XXXX database.
In the case filed in XX/XX/XXXX, XXXX XXXX not only admits the truth of the matter asserted but affirmatively alleges it in a lawsuit against PennyMac.
XXXX XXXX is never mentioned in any mortgages although they facilitate basically the entire process acting on behalf of " Lenders '' ; never named in any lawsuit as a servicer. It does not show up in court as the source of servicing records. It does not send any robowitness to court to say that he/she is familiar with the books and records of this company. And yet, here is XXXX XXXX, formerly XXXX XXXX XXXX and XXXX infamy ( XXXX XXXX, President went to jail ) who helped Big Banks to steal millions of homes as their tax-free revenue.
In a lawsuit XXXX XXXX asserts that PennyMac infringed upon its proprietary system that supplies the servicing records for XXXX XXXX of all servicing performed in the U.S., and that means that in XXXX XXXX of all foreclosures, the companies that were proffered as servicers were not the servicers or at least did not perform all servicing functions especially, as you read the complaint, as to payment histories and relevant documents for foreclosure.
According to XXXX XXXX, Pursuant to that certain Master Agreement entered into as of XX/XX/XXXX, together with any addenda thereto ( the Master Agreement ), XXXX became a registered user of the XXXX System and was granted a limited right to access and use the XXXX XXXX. LIMITED RIGHTS to use XXXX XXXX system. Not " ownership '' of any loans.
In disregard of contractual restrictions and the trust that had been placed in PennyMac, PennyMac instituted a secret project to create a copy of the XXXX XXXX for its own benefit in lieu of the XXXX XXXX. In furtherance of this scheme, it not only used the information shared with it in confidence by XXXX XXXX, it also improperly shared access credentials with individuals who were not authorized to use the XXXX XXXX under the terms of the Master Agreement. In other words, PennyMac STOLE information about my loan from XXXX XXXX, who collects my payments for stockbrokers, manipulates Escrow Accounts to create bogus " deficiencies '' ; sends Default Notices ; forge documents to facilitate foreclosures, ect.. PennyMac is one of many mortgage servicers to which XXXX XXXX has granted a limited right to access and use the XXXX XXXX, in exchange for and subject to the payment of contractual fees.
XXXX XXXX ( who was one of real parties in my transactions ) is the only company that was ever caught red handed with fabricating, falsifying, recording, forging, robosigning false transaction documents. They changed their name but not their business model. Their business model is being the central repository of all the data that is created, stored, and manipulated with respect to XXXX XXXX of all alleged loans.
That makes PennyMacv and other loan servicers liars. XXXX XXXX owns, operates, maintains all servers with an iron hand as directed by the investment banks who like XXXX XXXX want to be out of sight and therefore out of mind of any borrower, court or Regulators.
The fact is that the two parties who are not mentioned the investment bank who started and controls the securitization scheme and XXXX XXXX who is the central repository for all data to make sure that there is no public competition for claiming the same loan, are the only ones that actually out as real parties unknown by homeowners like myself.
So then we come to the fact that claims of servicing by PennyMac are completely false.According to the XXXX, PennyMac is acting under XXXX XXXX. PennyMac XXXX get to make certain entries which in turn are tested by XXXX XXXX and PennyMac may get to print out copies of reports that are produced by certain algorithms at XXXX XXXX but PennyMac has no role in creation or maintenance of business records on XXXX XXXX, who in turn does not do anything for trusts because it has no contracts with trusts. it has contracts with investment banks.
Now PennyMac 's lies are rebutted by XXXX XXXX ' sales of " mortgage backed '' bonds to Federal Reserve - without involvement of ANY Trusts who suppose to " own '' loans which are pooled to be collateral for XXXX sold to Investors ( as claimed by XXXX ). Here is no Trustee who suppose to hold these loans. No Servicers who purportedly " service '' any XXXX XXXX Trusts. No " investor '' XXXX.
Only Federal Reserve who spent about {$700.00} billion on XXXX 's XXXX bonds - while secretly pumps billions to Big Banks since XX/XX/XXXX as new bailouts backed by XXXX taxpayers like myself.
I respectfully demand PennyMac to ( 1 ) identify the Seller of my loan to PennyMac ; ( 2 ) provide me a proof of value paid by PennyMac for my loan, as required by XXXX ) ; ( 3 ) provide me a copy of written consent from MERS to be a Mortgagee for my loan ; ( 4 ) provide me a copy of MERS valid registration to conduct business in Michigan ; ( 5 ) provide me the name of the Trust which holds my loan as Securitiy ; ( 6 ) provide explanations why XXXX XXXX sold PennyMac my PERFORMING loan - or it was sold as a defaulted loan? provide me disclosures regarding the current sale of XXXX XXXX ' bonds to Federal Reserve and proof who is the lawful owner of my debt ( if it was a debt ) if XXXX XXXX SOLD their XXXX to Federal Reserve, without Notices to me. Disclose how much securities were sold using my data as a collateral, pay me XXXX XXXX of all trades under XXXX XXXX ; fine XXXX executives, XXXX XXXX, XXXX, XXXX, PennyMac, XXXX XXXX, XXXX and other parties XXXX damages for contract fraud and treble damages for racket. Declare my " mortgage '' as a " payment for participation in securitization scheme '' ; return all money collected as today ; remove this " mortgage '' as a fraudulent lien from my Title.
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| 12/15/2020 |
Yes |
- Debt collection
- Mortgage debt
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- Attempts to collect debt not owed
- Debt was result of identity theft
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Web |
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Dear CFPB, I want to follow up on my complaints against self-proclaimed Servocers XXXX XXXX XXXX, XXXX and PennyMac ( collectively XXXX XXXX , XXXX ) who continue relentlessly lie to CFPB and homeowners like myself about some sales and servicing of my loan.
Neither XXXX or PennyMac can not provide me ANY evidence WHOM they actually servicing and who sold my obligation ( IF exists ) to PennyMac who is purportedly an issuer of some mysterious securities which are purportedly guaranteed by XXXX XXXX who since XX/XX/2020 massively SELL ( lie ) their Mortgage Backed Securities ( never existed ) to Federal Reserve who purportedly assign them to its owners - Big Investment Banks like XXXX XXXX, XXXX XXXX, ect.
All XXXX and PennyMacs statements about their servicing and sales of anyones mortgage is a LIE promoted by Bit Investment Banks.
Neither XXXX or PennyMac ( as well as XXXX XXXX ) or fictitious smaller actors for hire like XXXX XXXX never lent ANY money to anyone, much less sold or securitized anything. The whole affair is a scam facilitated by XXXX XXXX XXXX XXXX who operate a massive fraud selling borrowers IDENTITIES to Investors which are not backed by any collateral.
PennyMac and XXXX were called back to action by fictitious default debt buyers XXXX XXXX ( XXXX ) and XXXX ( PennyMac ).
Most recently PennyMac was accrued by XXXX XXXX ( where Mr. XXXX XXXX, XXXX/PennyMac CEO worked for a while.
PennyMac LIES to authorities as instructed by XXXX XXXX Investment Banks.
There was a faulty and totally erroneous assumption ( in most cases ) that there was ANYTHING ) aka mortgages ) to buy or sell.
XXXX XXXX XXXX have successfully relied upon complexity to force everyone else to rely on a single source for explanation of the falsely proclaimed securitization process. That single source is XXXX XXXX. As long as people are only getting our information from the perpetrators of this financial terrorism, they are paralyzed.
No sales ever happened with residential loans. No investor ever purchased a share of any loan. No XXXX XXXX securities brokerage firm ( aka investment bank ) ever established, maintained or sold any homeowner obligation. But the XXXX XXXX firms did pretend to sell the note and mortgage, albeit without any conveyance of the alleged underlying obligation.
A paper transfer of an asset is evidence of transfer, but it is not the actual transfer. None of it present in my situation. PennyMac is unable to present ANY evidence of any sales - including the name of the Seller. But Mr. XXXX XXXX continues to lie to me and hundreds of thousands of others about PennyMacs never existed ownership because this is how he makes his living - helps Big Investment Banks to defraud Americans.
I repeatedly ask XXXX and PennyMac for proof of payment of value for the underlying obligation ( see Article 9 203 UCC ) to prove the SALE - as well as the name of the Seller. XXXX and PennyMacs employees lie relentlessly or avoid any answers. A transfer of a mortgage without transfer of the underlying obligation is a legal nullity in all 50 states, as it should be.
And unless XXXX XXXX wants to tell us that such transfers were GIFTS, then those purchases were never completed because there was no payment of value one exchange for a conveyance of ownership of the alleged underlying obligation. This is one of the finer points that XXXX XXXX is exploiting. They may point to the movement of money or value but that movement did not result in a transaction in which an owner of the obligation ( i.e.e someone who paid for it ) was paid value for the obligation and executed a transfer document for value received.
Of course, the underlying obligation had been extinguished contemporaneously with the origination or acquisition of the obligation because nobody wanted to be left holding the bag. Any entry on the accounting ledger of any entity that established the obligation as an asset purchased for value would make that entity liable for violations of lending laws. And nobody wanted to suffer a real loss if the homeowner failed to make scheduled payments to pay off a nonexistent debt.
So nobody wanted to own any debt from homeowners. And they didnt need to own anything. The securities scheme was not securitization of any homeowner debt. It was a much larger scheme that used homeowner transactions only as an outside reference point for data reporting in the sole discretion of XX/XX/XXXX firms who were the bookrunners in each scheme.
The securities were bets not evidence of ownership of anything. The sale and trading of such securities, combined with insurance and hedge contracts produced so much money that the homeowner transaction became irrelevant excepts as a reference point for data. So everyone got paid in full and then some. Nobody needed to own any homeowner obligation and the fact that they didnt own the obligation would not stop them from pursuing enforcement despite the lack of ownership.
In order to really sell an asset, you must own it. In order to own it you must pay for it. In order to transfer ownership of the asset, you must transfer the actual asset not just a piece of paper that talks about the asset. In residential transactions with homeowners, it is mostly NOT possible that any underlying obligation was transferred ( even if it appears to have been sold ).
XXXX sales of non-perfuming loans and repurchase agreements for bad loans were and still are in fact a misnomer and perpetuated the myth that securitization of residential loans actually occurred. Litigation over rights that do not exist is a farce promoted by Courts and covered by the Government.
And this financial terrorism by XXXX XXXX XXXX and their sham conduits like XXXX and PennyMac continues because XXXX and so-called Consumer Protection agencies are a PART of this FRAUD and instructed to cover for it by all possible means. It is very obvious from bogus settlements with so-called Servicers like XXXX XXXX in XX/XX/2020.
XXXX XXXX, just like XXXX ( now XXXX/PennyMac ) lied and cheated their way into multiple foreclosures. The answer we are told is not to do anything about the illegal foreclosures and illegal collections ( neither CFPB or DIF never took ANY steps to conduct any investigation to my simple question - WHO SOLD my loan to PennyMac and merely repeated lies from XXXX XXXX XXXX scrips ) Because PennyMac and XXXX .are confident that all their crimes will be covered, as usual ;. They will pay ( from stolen from homeowners money provided to them by Investment Banks ) a few cents on each dollar for the extensive damages caused by wrongful, illegal fabricated foreclosures.
But the main rationalization for such actions that only compound the wrongs is the continuing erroneous belief that these loans exist, that there are unpaid debts, that here are deficiencies and default.
XXXX XXXX XXXX use sham conduits likeXX/XX/XXXX and PennyMac to get the money back that they paid to homeowners in exchange for starting a series of transactions in which unregulated securities were sold, on an infinite basis, to investors who were betting on future announcements of data performance by the issuer doing business under the name of a legally nonexistent trust because nothing had actually been entrusted to the named trustee of the named trust.
So these settlements for pennies on the dollar or part of a massive cover-up. They reinforce the myth that the debts exist and that there is a creditor who owns the debt. In fact, the process referred to as securitization is a process of liquidating any entry on the ledger of any company on which a receivable had appeared.
Thus the assertion of authority is false as to the servicer, the trust and the trustee. It is also false as to the bank names used in litigation or notices of sale. XXXX XXXX, just like XXXX and PennyMac in my opinion, are guilty of criminal fraud and racket. The CFPB is guilty of grandstanding instead of helping people like myself of investigate and prosecute XXXX XXXX XXXX and their mobs like PennyMac, XXXX and other impersonators and order them to return stolen money - plus at least treble damages.
What is obvious is false but only investment bankers know it.
Without knowing it, I am actually doing business with a XX/XX/XXXX securities brokerage firm calling itself an investment bank.
I didnt know because they were never disclosed. And the money they paid to me was not a loan at least not for them it wasnt. They didnt treat it that way on their own records and I do not treat is as a loan too. That means they are attempting to collect back the money they paid to ME even though it wasnt a loan.
So what did they pay me for? When I issued the promissory note what were I buying?
I asked for and thought I received a loan. After all, I did get the money. When I applied for a loan, you thought I had identified the lender, XXXX XXXX, with whom I was doing business. And this Lender is interested in the outcome of my loan and my payments. It was absolutely wrong.
I was dealing with totally DIFFERENT parties those only interest was to put hate from me my signature on Promissory Note and put me in default by any possible means - because this is how XXXX XXXX XXXX can make more money and launder a fatally damaged Titles in the Court.
My so-called loan was originated by XXXX XXXX who started to scam me from the beginning with bogus Flood Insurance which was provided to them by XXXX, XXXX who operates Flood Zone Determination maps - without FEMAs involvement. FEMA covers for it because they get free and easy money from defrauded by XXXX XXXX/XXXX homeowners.
Here is what I didnt know and that is actively concealed from me by XXXX XXXX XXXX and their sham conduits.
1. Yes, I asked for a loan, but the application I submitted was not to a lender. The Lender - XXXX - was merely a collector of my data which they entered into XXXX XXXX system or passed to XXXX - who entered it on XXXX XXXX system.
2. Contrary to the laws governing loan transactions many things were not disclosed to me.
3. The intake for the application for a loan is performed by a loan broker ( XXXX ), who doesnt care what the transaction is called as long as he/she gets the commission.
4. The loan broker then forwards the information on the loan application to an IT platform owned and controlled by XXXX XXXX and XXXX who in turn are acting for a securities firm preparing to issue and sell securities to investors. As far as theyre concerned they would prefer to pay me {$1.00} rather than {$130000.00}. But then how could they get me to sign a note for {$130000.00}?
5. The securities that are issued and sold are not a conveyance of any interest in my transaction. They are bets based upon reports issued by the securities firm. The prices of those securities are unrelated to the total amount of my transaction or any part of my transaction. So they can sell these securities indefinitely until the market is saturated ( no more demand ).
Thus, XXXX and PennyMac statements about sales of my Note are blatant lies. My DATA was securitized by XXXX XXXX and sold to investors - without my knowledge and consent, no need to say, without sharing any profits or reducing any debt 1. On average, the dollar volume of revenue generated by the securities firm selling the securities is {$12.00} ( XXXX ) to {$180.00} ( XXXX XXXX ) for each {$1.00} of my transaction. In other words, XXXX XXXX XXXX who collects my payments for the Cartel made over {>= $1,000,000} profits by selling BETS based on my identity, while my data is sold as performing and defaulted at the same time, 2. The amount they paid ME was, therefore, on average, around 8.5 % of the total revenue. It was a commission, not a loan. But I didnt know that.
3. I received a payment that was dressed up as a loan. I never thought to bargain for reasonable compensation for entering into a transaction that was the keystone of all the sales of all of the securities. And I never thought about whether I wanted to be part of a business venture whose purpose was to sell betting rights based upon reports about my transaction and whether I was making scheduled payments.
4. Collection and enforcement of the obligation I created when I executed the promissory note is the act of taking back the commission they paid to me, plus stealing all my escrow money.And because they want all of it back plus interestthat leaves me with negative compensation for initiating a huge business venture and allowing the use of my name and reputation- without my knowledge or consent. ( They get all the benefits, I get the shaft plus terror from one of most dangerous racketeering group who call themselves Servicers XXXX and PennyMac, former XXXX XXXX ).
5. And even at the point of collection and enforcement I still dont know ( until now ) that I am actually dealing with a securities firm that has no financial interest in your transaction. I didnt know because nobody is telling me that. They insist on calling it a loan and since it looks like a loan, everyone ( including the borrower ) thinks it is a loan.
6. When they get money from me, they have no place to put it.They cant debit an account receivable that reflects ownership of my obligation because there is no account receivable on the ledger of any company.My payments constitute a return of the commission they paid to me an amount that they deemed reasonable. That means that their payment is evidence of the amount of commission to the homeowner that the securities firm deemed reasonable.Ask any lawyer what that could mean.
7. In court, they seek to increase their profits by forcing the sale of peoples houses. But that can only be done legally if the forced sale is granted by a court because the action is a foreclosure. But it isnt a foreclosure if the claimant is not the owner of homeowners obligation. Andthey cant be the owner of anyones obligation unless they paid value for it which is why there would be an entry on the accounting ledgers of some company if anyone paid for my obligation and received a conveyance of ownership of my obligation.
8. In every loan, there is the lender and a borrower. I intended to be a borrower but I never made the journey. That is because my counterpart was not a lender, had no means or intention of being a lender, and was seeking to avoid being called a lenderat all costs because they didnt want to be held responsible for violations of the Federal Truth in Lending Act and other federal and state law governing lending, collections, and enforcement.
9. I have every legal right and legal expectation that the party representing itself as a lender is doing the underwriting of a loan with due diligence. That means they have a stake in the outcome of the transaction. It if its a loan, their revenue, profit, and assets are dependent upon repayment of the loan.
10. But my transaction was conducted by the securities firm acting through sham conduit intermediaries. The sole purpose was to start the sale of securities. Some of those securities were bets against the performance data of your loan.
11. So they had an incentive and a vested interest in seeing my obligation fail. That is why they inflated appraisals, sold bogus insurances ; fabricated deficiencies, that were guaranteed to push me in default. The securities brokerage firm was betting on a sure thing.
12. In addition, the riskier the loan the higher the interest they could charge. Thats because everyone ( except the XX/XX/XXXXt firm ) thought it was a loan. And the higher the interest the less they had to pay out from the fund of capital generated by selling securities to investors. So if you had a {$130000.00} transaction where the securities brokerage firm set a price of 10 % interest, they were receiving around {$270000.00} from investors to cover that loan ( which was actually a commission ). That is why there is no loan account receivable on the books of anyone not even the securities brokerage firm that funded it out of investor capital.
13. Everyone on the securitization team got paid with one exception - borrower who signed the Promissory Note to initiate a windfall to XXXX XXXX XXXX mistakenly thinking that they borrowed these money. There is no debt.
But in fact it was a XXXX XXXX investment banks who steal back money that was earned by me and other homeowners.
I demand CFPB to conduct a FULL investigation, identify the SELLER of my loan ( if any ) to PennyMac ; provide me PROOF of ALL sales ( if any ) starting from XXXX ; compensate me for damages for fraud in treble amount ( XXXX x 3 ) pay me 20 % commission from ALL trades based on my data ( I expressly PROHIBIT any trades until the FULL commission owed to me byXX/XX/XXXX Brokerage Firm is paid ; and other compensation for other damages including severe emotional distress.
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| 07/15/2021 |
Yes |
- Debt collection
- Mortgage debt
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- Attempts to collect debt not owed
- Debt is not yours
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Web |
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Dear CFPB, Please find my Complaint against PennyMac Loan Servicing, LLC ( a pretender Servicer ) and XXXX XXXX XXXX for illegal collection of debt which I do not owe ; and my request to extend forbearance on my non-existing " loan account " where I transfer all my money to XXXX XXXX XXXX XXXX XXXX XXXX as a tax-free revenue after XXXX XXXX deceptively obtained from me a license to use my personal information in their securitization scheme started in XXXX with original owners, XXXX XXXX whom XXXX XXXX deceptively paid a commission of {$200000.00} for starting a first round of securitizaiton scheme.
XXXX XXXX issued an Order to extend forbearances for six months of additional mortgage payment forbearance, in three-month increments, for borrowers who entered forbearance on or before XX/XX/XXXX.
I clearly qualify for this Order and request CFPB to help with my extension until XX/XX/XXXX since I have nobody else to ask for it and XXXX XXXX wants to collect more money from me as their tax-free revenue via fake compnaies who pretend to be " servicers '' and " lenders '' PennyMac appeared in XX/XX/XXXX and started to lie relentlessly about " purchasing '' my alleged " loan '' while nobody confirms to be a seller to PennyMac.
As " proof '' of its alleged " ownership '' PennyMac sent me two forged XXXX to my Note - both of which are significantly different and illegit.
XXXXXXXX XXXX XXXX XXXX to XXXX on XX/XX/XXXX which was sent to me by PennyMac in respond to my Complaint to Florida Attorney General.
XXXX XXXX " prepared '' an XXXX to XXXX XXXX Loans on XX/XX/XXXX signed by Collateral Shipper XXXX XXXX. When I asked where XXXX worked and which authority he has to sign any financial documents, nobody was able to respond.
XXXX deny this transfer while XXXX has no idea when they transferred my " loan ''.
But XXXX of my Note means XXXX transferred " ownership '' of my alleged " loan '' on my closing day to XXXX XXXX XXXX who became the new " owner '' of my alleged " obligation '' while bear to repeat, XXXX vehemently deny it.
The legal requirement for enforcement of a promissory note consists of possession plus authority granting the entitlement to enforce the note. Who can grant that authority? The answer must be the owner of the underlying obligation or someone who represents the owner of the underlying obligation. In either event, the owner of the underlying obligation must be identified.
Here are NO owner of underling obligation was ever identified in my situation. Only lies, forgery and absurd runarounds.
The playbook for the banks consists of wearing out the homeowner with strategies that misdirect attention from the real issue - who is the Holder in DUE COURSE.
This XXXX # 1 was sent to me by PennyMac on XX/XX/XXXX, after I contacted XXXX XXXX.
After XXXX ( who apparently retained " ownership '' between XX/XX/XXXX to XX/XX/XXXX until XXXX 's " nominee MERS '' hired XXXX to " assign '' my " mortgage '' to PennyMac who said that they " purchased '' my loan in XX/XX/XXXX ) " - I submitted my complaint with Florida XXXX XXXX has no idea who hired their company - or instructed to conceal who is their client ( XXXXXXXX XXXX and XXXX XXXX and/or XXXX ) PennyMac 's employees who call themselves " XXXX XXXX '' sent me a brand new Allonge # 2 purportedly prepared by " XXXX Mortgage '' on XX/XX/XXXX where XXXX Mortgage transferred my alleged " loan '' to XXXX XXXXXXXX XXXX XXXX This XXXX # 2 is substantially different from XXXX # 1 provided by you on behalf of " your client '' XXXX since it completely lacks any authorized signatures.
I guess " XXXX '' who sent me Allonge # XXXX with stamped signature of " Collateral Shipper XXXX XXXX '' is on vacation or quit, so, the new " XXXX '' did not know about this Allonge and which was likely removed by XXXXXXXX XXXX from their document forgery system MSP, so, this XXXX sent me a new XXXX # 2 along with an absurd letter full of lies, as usual.
XXXX to mention, these are lies to Florida XXXX, after PennyMac relentlessly lie to CFPB.
According to HUD 's Rules, ALL endorsements must be on the Note first, with authorized signatures. XXXX are only allowed to be used if the Original Note has no more space for signatures. Each signature must state the name and the title of the person who signed it.
According to PennyMac, XXXX, who claimed to be a " Lender '' ( until XXXX transferred " ownership '' to PennyMac on XX/XX/XXXX ), must pool all loans into XXXX XXXX 's Trusts and issue securities which XXXX as a Lender sells to investors.
Every trust must have these elements : Trust agreement : A trustor or settlor : A trustee : Beneficiaries who are identified and named : Some legally recognized interest, property or investment that has been entrusted to the trustee to manage on behalf of the beneficiaries.
I many times asked XXXX to give me these documents but XXXX was never able to answer it.
However, PennyMac claims to be an " issuer '' of securities backed by my alleged " loan '' - while the Lender as you said was XXXX.
XXXX did not claimed to be a " Lender '' but XXXX XXXX 's Senior VP XXXX XXXX insisted that the Issuer was XXXX.
XXXX, XXXX and PennyMac- all agreed that they are " Servicers '' for someone ( the owner of the Debt ) whom none of them can identify. In other words, I have three Servicers and no one Master who is the owner of the alleged debt.
Can you contact PennyMac and ask which XXXX must be permanently attached to my note ; where is the Note and why XXXX did not endorsed it as required by HUD 's Rules?
Who was an authorized officer at XXXX Mortgage who was in charge of all these " transfers '' ; and who is holder in due cause who has my Original Note and proof of purchase from XXXX - along with proof of payment received by XXXX after sale of my alleged " obligation '' Also, ask PennyMac to identify XXXX XXXX 's Trust where Lender XXXX pooled my " loan '' and identify Investors to whom XXXX as a Lender issued and sold securities.
See PennyMac 's letter with explanations how XXXX XXXX for instance ) create Trusts and issue securities.
The truth is - all Companies who appear as " Servicers '' do not do any collection or administration of anyone 's debt. They are hired by XXXX XXXXXXXX XXXX solely to lie to homeowners.
99 % of all homeowner transactions, correspondence, notices, response to QWR, response to XXXX, and response to forbearance or modification is not generated by the company claiming to be the servicer.
Although you might direct your letter or payment to the name of the company claiming to be a servicer, it is not received by them.
Through a network of third-party outsource contracts the actual work of receiving, depositing and disbursing the proceeds of payments is conducted by other companies.
The actual work of sending responses, correspondence and notices to homeowners is also performed by third parties. I have proof for it.
And the work of accounting for payments is performed by the companies that actually received those payments not the apparent servicer.
Those third-party companies are subject to agreements for contract administration. Some of them are referred to as corridor agreements ( most commonly with XXXX XXXX XXXX XXXX XXXXXXXX. None of the third parties are subject to the control, instruction or ownership of the company that is pretending to be a servicer. Even the call center is usually manned by non -employees or contractors of the apparent servicer.
When I call PennyMac 's automated line, their answering system says that they do not have records of my " loan ''. I recorded their messages.
The illusion is complete. The apparent servicer is a third party to everything about the homeowner transaction but it looks like it is in charge.
Since several different companies perform different tasks that are attributed to the apparent servicer, and those companies do not communicate with each other, the responses I get are inconsistent and even relate to the wrong transactions.
It will also not be the response of an actual servicer as the term is generally understood i.e., the company that receives and disburses money from payments received from homeowners.
The structure requires one company to receive the payment, another company to account for it and still another to disburse and account for that function.
There is no signature on most correspondence I received ( or electronic signatures ) because there is very little human intervention in the process. That creates a seemingly airtight argument for plausible deniability for mistakes.
The bottom line is that I am not corresponding with or communicating with the company claiming to be a servicer.
The same with alleged " servicing of escrow '' - these money are also stolen by XXXX XXXX XXXX. If nobody has an account receivable for alleged " loans '' - they have nowhere to deposit your escrow money.
As the result, ALL taxes and home insurances are paid from XXXX XXXX 's operation pools which consist from investors money - aka your Pension Funds.
A common example to look for is who is paying the taxes. If it is XXXX, something is up. It obviously does not claim to be a creditor or a servicer. So, why XXXX would pay for the taxes if XXXX is supposedly just a computer processing company?
The entire " lending '' industry for the past two decades has been one elaborate fraudulent scheme and basically mostly a Ponzi Scheme operated by major XXXX XXXX XXXX Banks and direct heinous fraud against homeowners who were brainwashed to think that they " borrowed '' some money to buy a home.
The real issue in any action to enforce a note or enforce a lien is very simple. It is about money.
More specifically about money owed.
It is not about games to play to get money because the note or mortgage exists. it is about collecting an unpaid debt.
Unless there is a debt and unless the debt is unpaid and unless the debt is due to the claimant there can be no claim or any demands for any payments.
Why would anyone want to give money to someone just because they know about the original promise to pay money.
Knowledge is valuable to be sure, but the homeowner is under no obligation to pay for that knowledge, since he/she already has it, to wit : a promise to pay was issued at origination of the transaction.
But that promise was made in the context of what the homeowner believed to be a loan transaction with a specific lender who had a risk of loss on the transaction, just like the homeowner.
If the promise was made without knowledge of the full details of the elements of the deal, then the homeowner is entitled to Full disclosure and participation in the entire deal, not just part of it.
But the homeowner does not know what happened to that promise after he or she issued it.
Since the counterparty to the transaction with the homeowner consists of a group of companies intending to make a profit on the sale of securities, the intent of the homeowner and the intent of the counterparty ( ies ) is entirely different.
If the homeowner is excluded from the securities scheme then there is no consideration for the issuance of the promissory note. If the homeowner is included in the securities scheme, then the issuance of the note was an investment into the security scheme, for which the homeowner was entitled to compensation.
That leaves open the question of the amount of compensation to which the homeowner might be entitled. as payment to the homeowner for starting the highly profitable securities scheme.
XXXX XXXX '' benefit of homeowners ' signature on the Note is simple.
For example, they sell {$2.00} XXXX worth of " certificates '' on the data from the origination of the first transaction with the homeowner.
In my situation this first transaction was likely {$200000.00} " Mortgage '' to the prior owner by XXXX XXXX XXXX in XXXX who started this securitization scheme.
Then without disturbing the securitization structure the new sale or offer to refinance means new data.
The new data is then the subject of a new sale for {$2.00} XXXX in " certificates ''.
Since the investment bank is taking in {$2.00} XXXX but only paying out, at most, around {$1.00} XXXX they made an immediate " trading profit '' of {$600.00} XXXX on the first securities deal and then another {$2.00} XXXX on the second securities deal.
The second securities deal required no payment to the homeowner because that payment had already been made.
In other words, in my situation no financing was necessary at all - from XXXX or anyone else - since I signed documents which looked as " Mortgage '' which was undisclosed purchase from me by XXXX XXXX a license to use my information ( data ) to continue securitization scheme started by XXXX XXXX with XXXX in XXXX.
This is why my mailbox was full of refinancing offers - XXXX XXXX needs new data to issue new securities by pushing me into a refinancing, preferably under predatory terms.
If there is a third, fourth and fifth round of securitization based upon data that is based upon the first deal only, the profits of the investment bank rise to many multiples of the first deal, which is the only deal in which money is paid out to homeowners.
And in some cases that is exactly what happened -- - after paying out {$1.00} XXXX to homeowners masqueraded as " loans '', the investment bank ended up with direct profits of more than {$10.00} XXXX -- - all without ever becoming the lender in a regulated loan transaction.
Then you have the derivatives sold whose value is based upon the " value '' of the certificates that were sold. You can easily see why some brokerage houses were ensnared by leveraging since they were, for the first time, leveraging revenue.
By borrowing XXXX times the net worth of XXXX XXXX management thought they would be making hundreds of billions of dollars. And they would have if the fake trading market for certificates had not come to a grinding halt in XXXX.
Instead, the selling topped and like any XXXX scheme so did the " Business. '' And who made all of this possible? Gullible investors which include homeowners and pension funds.
How much revenue did the investors ever see or receive from this scheme? Zero.
Investment banks had inverted their role from being a broker to becoming the de facto principal without any of the liability of being a principal.
Explaining this to the normal average homeowner is a virtually impossible task and that is why there is no collective outrage from homeowners except the self-destructive outrage against themselves.
They're left paralyzed by the deceit promoted by XXXX XXXX Banks who operate this XXXX scam.
The latest announcement from XXXX that it is selling servicing rights is an example of the con. It is a simple announcement that it is selling its servicing rights to the newly created XXXX a company that would not exist at all if it were not for an IPO that raised money for it to buy the servicing rights presumably sold but not warranted by XXXX.
This is simply another one of thousands of announcements of transactions over three decades in which XXXX XXXX investment banks created, maintained, and promoted the illusion that any part of their claim of securitization of debt was ever true.
The plain truth is that no asset ( debt is an asset ) is securitized unless it is sold in a real-world transaction in which the purchaser paid value in exchange for documents conveying ownership of the underlying obligation ( from someone who owns it ).
This does not happen in residential mortgage loans.
Best regards, XXXX XXXX
|
| 06/29/2020 |
Yes |
- Debt collection
- Mortgage debt
|
- Attempts to collect debt not owed
- Debt was result of identity theft
|
|
Web |
Servicemember |
|
Dear CFPB DIFS, Michigan AG, Supreme Court Senator XXXX, and other authorities, I respectfully request you to investigate the biggest XXXX XXXX ever existed in the World history, which is operated by the same people who collapsed American housing and stock market in XXXX, but were never held liable for any crimes. They expectably collapsed Worlds economy again in XXXX, which resulted in secretive bailouts to Big Banks by Federal Reserve, started XX/XX/XXXX, or before Coronavirus.
Now Federal Reserve is buying approximately {$620.00} XXXX in U.S. treasury bonds, including XXXX XXXX XXXX bonds ; corporate bonds, and municipal bonds every week. That's nearly {$2.00} XXXX XXXX per month.
Surprisingly, Federal Reserve, who should now be called the XXXX XXXX # XXXX, never mentioned purchases of any loans from any Trusts where these loans are pooled as securities and entrusted to Trustees like XXXX XXXX XXXX XXXX who suppose to hold these MBS for the benefit of investors like XXXX XXXX or XXXX who also claims to be the owner of the debt, creditor, issuer, and anything else.
How can Federal Reserve buy MBS directly from XXXX XXXX without participation all other parties who are responsible for these MBS bonds which are serviced by companies like PennyMac Loan Services , LLC, who also claims to be the owner of the debt.
But Trusts or Trustees or Servicers are never mentioned in Federal Reserve purchase of XXXX XXXX bonds. As well as any owners of any loans ; or loans themselves.
Neither XXXX XXXX or Federal Reserve never informed homeowners like myself about drastic changes of the ownership of our debt. I am wondering why?
It can only happen if nobody owns this debt and no Trust exists to participate in any sales of securities backed by loans. Federal Reserve buy mortgage assets ( which nobody called loans ) which are passed to Federal Reserve by XXXX XXXX and Stockbrokers as a sale since no one company can claim this debt on their accounting books.
In fact, Federal Reserve simply returns Investors their money paid for Stockbrokers thin-air derivatives while gives Big Banks and Black Knight a flesh start to initiate a new foreclosure mill, as they do during last 20 years.
My creditor/owner/investor PennyMac was not even mentioned in Federal Reserve purchase of XXXX XXXX XXXX even though it would be logical for to buy loans directly from the owners, like XXXX claims.
Why XXXX is not participating? Because XXXX is a bundle of a middle level criminals who do absolutely nothing with originating, servicing, foreclosing or buying any loans because they do not have money to buy.
All of it origination, servicing, pre-designed defaults, foreclosures is done by one company XXXX XXXX ( formerly Lenders Processing Services/DocX ) who is originator, Servicer, and forecloser of 62 % of ALL American mortgages though their sophisticated system LoanSphere where other parties get a limited access via login and password.
Money at the closings are passed from Stockbrokers pool which is not related to any mortgages, so called table funding. They are collected from investors in exchange of unsecured certificates based solely on Stockbrokers promises to repay. This information is public and can be found in Prospectuses filed with SEC, where Stockbrokers specifically identify that they trade unregulated securities sold to investors who are unsecured creditors to Big Banks but not secured creditors to homeowners. Moreover, Prospectuses specifically emphasize that Investors to not expect any other collateral than Stockbrokers promises to pay to avoid liabilities for violations of every lending law in the US.
XXXX XXXX XXXX , XXXX and PennyMac were given some access to XXXX XXXX system via password, as shown in the picture below, so they are able to see and even print limited information such as billing records prepared and maintained by XXXX XXXX without ever touching any money ( except fees ) or borrowers data while pose as legitimate parties to defraud borrowers, investors and Courts.
When PennyMac tried to steal this system from XXXX XXXX to create their own, XXXX XXXX sued PennyMac and fired them effective XX/XX/XXXX.
So, PennyMacs pretenses to be a Servicer of non-existing Trust are baseless lies since PennyMac never serviced any Trusts and now even do not have contract with Black Knight to use their system where my data is stored from XX/XX/XXXX.
Based on this unprecedented crime 30 million Americans were illegally foreclosed by Black Knight and Stockbrokers who got free homes plus proceeds from sales as their additional revenue.
With 40 million currently unemployed, Big Banks and XXXX XXXX can not wait until the Government will give them a signal to start foreclosure mill which will surely collapse the entire County.
Here is how Mr. XXXX and Stockbrokers XXXX XXXX works : My independent lender and Loan Originator XXXX XXXX XXXX XXXX never originated any loans or lent any money, except collecting fees paid to them by Stockbrokers via sham intermediaries. XXXX merely forwarded to them borrowers data while pretended to be a Lender who sells loans to someone else. This is a myth to cover for the real nature of this transaction securitization scheme based on borrowers identity.
The actual originator was Mr. XXXX XXXX XXXX XXXX, owner of LPS/DocX/Black Knight who created a huge criminal monopoly under the nose of all authorities, with total impunity.
XXXX passed my data to XXXX, a middle level intermediary who has an access to XXXX XXXX XXXX. I doubt is XXXX was given an access, or even knew XXXX XXXX is involved, they were too small for it.
XXXX, in turn, passed my data to XXXX XXXX who originated this transaction via his XXXX XXXX, enterprise loan origination system ( XXXX ) that provides the functionality for every facet of the origination process from point-of-sale to post-closing. Offered as both an ASP and self-hosted solution, XXXX supports consumer, retail and wholesale point-of sale channels ; loan fulfillment and closing ; pre- and post-closing audit and compliance functions ; product and pricing ; electronic document management ; and industry-standard interfaces.
Money for my transaction were processed by XXXX XXXX from a Stockbrokers table funding pool, which XXXX XXXX passed to XXXX who mislabeled it as a loan. In fact it was a payment for my financial services to Stockbrokers and participation in securitization scheme as an initial Issuer of the Note ; and for assuming all risks associated with junk fees, pre-designed default and foreclosure, psychological tortures by fake servicers ; endless financial manipulations and threats, and confiscation of my homestead to repay non-existing debt ( aka profit to Stockbrokers who made at least 12 times more from trading my securitized identity as bogus derivatives, which Federal Reserve now re-purchase from defrauded Investors.
Here are NO accidental defaults or foreclosures in America which are due to borrowers fault. It is all carefully designed and planned by professionals like ill-driven Mr. XXXX.
Here are some simple basic tricks used by Mr. XXXX to create actual defaults after loans are internally defaulted to be sold as defaulted debt derivatives. First, excessive fees and charges, like outrageous Flood Insurances for homes even in a desert or on hills ( Flood Zone determination is done in-house, by XXXX, see below ). Second, by churning refinancing with huge cash outs under adjustable rates by predatory Lenders ( actors for hire who receive borrowers information from CoreLogic ). Third, bogus deficiencies by manipulations with escrow accounts maintained by XXXX XXXX. When I received {$1900.00} lump sum deficiency along with {$400.00} per month ( or about 50 % ) payment increase, I immediately demanded explanations from XXXX my lump sum deficiency suddenly disappeared and my payment increased by about {$200.00} instead of {$400.00}. But most people do not challenge deficiencies since they think it was done in good faith, maybe due to some accounting mistakes, and receive bills as much as {$15000.00} lump sum plus extra thousands of payment increases, which is a guaranteed default and foreclosure.
When I contacted DIFS and asked them to investigate, Mrs. XXXX responded with absurd runaround where she repeated the same lies told her by XXXX and PennyMac.
Mrs. XXXX said that according to XXXX, my loan was originated with XXXX XXXX XXXX XXXX I dont know based on which evidence Mrs. XXXX concluded that my loan was originated with XXXX if all documents show that it was originated with XXXX XXXX and funded by a Stockbroker via XXXX while XXXX tried to conceal these parties from me by forging RESPA Settlement Disclosure. But she ignored my evidence and sided with criminals.
Mrs. XXXX further stated that XXXX performed escrow analysis on my escrow account, which is not true. All is done though XXXX XXXX XXXX.
Mrs. XXXX further stated that according to PennyMac my loan was in default which is not true. Mrs. XXXX must be familiar with State and Federal debt collection laws as well as contract laws, particularly XXXX which state that only lawful creditors and owners of the debt can declare loans in default. I lawfully demanded a Validation of this debt from PennyMac, which they were never able to provide since PennyMac never was a creditor or a legit representative of the creditor to collect from me any money or declare me in default, which I consider as false and defamatory statements. But once again XXXX sided with criminals to cover for their fraud.
XXXX further advised MrsXXXX XXXX that servicing of my loan was transferred to PennyMac. But XXXX never said WHO facilitated and/or approved Servicing transfer of my loan to PennyMac, who started calling themselves buyersowners, creditors, investors, issuers, ect without any evidence in support and without even a Seller. Did XXXX transferred servicing rights to PennyMac? Or a Trust or Trustee transferred servicing rights to PennyMac? Or XXXX XXXX ( who has no idea about Trusts serviced by XXXX or PennyMac ). Or MERS, a fake mortgagee?
When I asked Mrs. XXXX to contact XXXX, PennyMac, XXXX XXXX and MERS to identify the Seller of my loan to PennyMac ; who approved changes of Servicer ; and who appointed XXXX and XXXX as Servicers she refused to comply with my request.
Because nobody appointed XXXX or XXXX as Servicers to non-existing Trusts. XXXX XXXX merely gave XXXX and XXXX separate passwords and logins to his LoanSphere, so they can see and even print some billing records as evidence of ownership which they regularly presented in the Court to steal homes from defrauded borrowers under glimpse of enforcing debt repayment ( aka revenue for Wall Street Gang ) by non-related parties.
Mrs. XXXX further stated that requirement for flood insurance was determined by the flood certificate from FEMA which acknowledged the property in the flood zone as of XX/XX/XXXX.
This is another lie. FEMA has nothing to do with flood determination or flood certificate. It was all done by XXXX who is integrated with XXXX XXXX by at least 5 platforms. XXXX of which provide XXXX Determination and Identity theft services.
Here is how XXXX XXXX XXXX, XXXX formerly XXXX XXXX XXXX XXXX XXXX XXXX, MI companies, ID Number : XXXX, describes its business model : As the largest provider of Flood Zone Determinations to the mortgage industry, we pride ourselves on providing the same excellent service and reliable industry-proven flood products to all of our clients regardless of their size or production volume. Basic Flood Determinations provide you with a Standard Flood Hazard Determination Form ( SFHDF ) Our technology streamlines the process and returns completed flood zone determination within minutes over 93 percent of the time. We return all Flood Zone Determinations on the FEMA Standard Flood Hazard XXXX XXXX, which in my situation was submitted to CoreLogic by XXXX XXXX, both of whom try to conceal their participation in my purchase and their roles.
This is why XXXX claimed that they never received my XXXX and demand to remove XXXX XXXX because it was received by XXXX XXXX who simply ignored it because XXXX XXXX goal are defaults and foreclosures they handle to Big Banks/Stockbrokers. XXXX and XXXX are merely vehicles to act as real parties, push borrowers in defaults under XXXX Knight guidance and support ; and appear in the Court to launder broken Titles, mostly insured by XXXX participant First American Title.
Thus, " Lenders '' do not originate, service or foreclose anything. XXXX XXXX does. Who can create any Trusts if everything is in hands of ONE person - Mr. XXXX XXXX and his XXXX XXXX?
Big Banks to not pass any money to Lenders. Big Banks do not hire lawyers to foreclose. Big Banks do not hire realtors to sell properties. It is all done by XXXX XXXX who originates loans, pass money from Stockbrokers to intermediaries ; service all loans in his system and give self-proclaimed Servicers a password to login with a limited access in XXXX platforms ; create hardships to create defaults ; forge documents making back-dated assignments to illegally foreclose ; and start all over again.
And XXXX XXXX and XXXX XXXX Gang will continue its crimes unless the Government will stop them.
I respectfully demand DIFS, MI XXXX, and all other authorities to investigate and prosecute Mr. XXXX XXXX XXXX XXXX and his Stockbrokers crimes ; order them to compensate homeowners for all damages, just like most recently Court ordered to cancel student loans for defrauded students ; and PAY homeowners their fair share for forceful participation in Big Banks securitization scheme, in the amount at least 20 % royalties from all trades.
I want to mention that involuntary servitude ( aka slavery ) in America is abolished in XXXX, when the 13th Amendment was formally adopted into the U.S. Constitution, ensuring that neither slavery nor involuntary servitude shall exist within the United States, or any place subject to their jurisdiction.
Mr. XXXX XXXX and Big Banks created the most cynical slavery when people work hard to save money for HOME purchase, bring these money to criminals expecting to be equal parties of an honest contract and lured into a fraudulent scheme where their identities and homes are sold in all possible forms mostly as defaults ; while unsuspecting borrower spend his/her entire life, sometimes 30 years to return the only one payment - masqueraded as a loan for involuntary servitude in Big Banks Ponzi Scheme plus bailout criminals every 10 years, or more. All while Mr. XXXX and Stockbrokers enjoy 12-50 times more money from trades of their servantss stolen identities plus revenue from stolen homes, wealth transfer and free labor for years.
Since XXXX XXXX is no longer a holder of MBS bonds which were not backed by any mortgages ; and PennyMac was terminated as a sham conduit from XXXX XXXX system, I request Mr. XXXX and Stockbroker ( XXXX XXXX XXXX ) who receives my payments as their tax-free revenue to identify my current Creditor and how this owner received rights to my debt ( under UCC Art 9 203 ) return me illegally collected money ; pay me 20 % from all trades as XXXX XXXX ; provide me a release of any liens since my mortgage is not a loan, and pay me treble damages for fraud, racket, identity theft, unjust enrichment, conspiracy to defraud, defamation of character, emotional distress and other damages. No less than {$50.00} XXXX or more.
Best regards, XXXX XXXX
|
| 11/12/2020 |
Yes |
- Debt collection
- Mortgage debt
|
- Attempts to collect debt not owed
- Debt was result of identity theft
|
|
Web |
Servicemember |
|
Dear CFPB, Please find my supplemental complaint against PennyMac Loan Services , LLC ( renamed XXXX XXXX XXXX ) which was brought back to business in XXXX by XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX ) to pose as a sham conduit for Federal Reserve members XXXX XXXX , XXXX XXXX XXXX, XXXX XXXX, XXXX XXXX each of whom operate a massive Ponzi Scheme with unregulated securities ( derivatives ) which are issued by Federal Reserve member, XXXX XXXX XXXX, self-regualted member of Federal Reserve, and its XXXX XXXX XXXX XXXX who is a sole beneficiary of ALL so-called " securities '' issued on XXXX Name and sold to Investors in form of a virtual certificates.
XXXX relentlessly lie to Federal Autorities and all Courts about their " ownership '' of some " loans '' - while none of it exists.
The Elephant in the Room is Federal Reserve ( aka Big Investment Banks who own Federal Reserve as their common operating pool ) ; XXXX XXXX XXXX ( DTC ), a self-regulated member of Federal Reserve who issue all securities XXXX XXXX Name ; XXXX XXXX Co, which consists of certain employees of DTC the sole beneficiary for these securities who sell Investors some beneficial rights ; and XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX and a bundle of Title Insurance companies ) and XXXX XXXX XXXX, partner with XXXX, XXXX and owner of XXXX XXXX XXXX.
This is it. And a bundle of Pension Funds and Investors to pay for thin-air information about some certificates which none of these investors are not even allowed to have, see XXXX XXXX XXXX below.
Here is how it works.
A potential home buyer approach a purported independent Lender ( non-existing in totally monopolized housing market by Federal Reserve owners ).
The Lender collects borrowers personal information and pass it via web Empower ( XXXX XXXX ) or some similar platform with XXXX, to Big Banks EACH of whom operate a separate scheme with the same borrowers identity.
Big Banks who have common operating pool ( which based on all evidence handled by Federal Reserve ) pass borrowers a one-time payment for their secretive participation in securitization scheme which is not disclosed in any documents ( Mortgages contain a standard provision that Notes or part of Notes can be sold but they are never SOLD to anyone ). Real Partiers are not disclosed either.
Big Banks and XXXX who cover for this fraud usually issue a Prospectus based on forward-looking statements we WILL create a Trust which WILL purchase mortgages which SHALL be pooled into the Trust which WILL issue securities and other empty bla-blas.
The one thing in common ALL securities will be issued via DTC in book-entry form.
Investors pay trillions of Pensions money to by forward-looking promises of Investment After Borrower ( aka Initial Issuer of Security called Promissory Note perform their part of the Contract thinking that they borrowed someones money and that an independent Lender will sell their mortgage to someone to generate more money ( which is a lie ) their personal DATA and information about loan is scanned and placed in form of images with XXXX XXXX MSP and or XXXX XXXX who are the actual Servicers who coordinate collection of money from homeowners via lockbox agreements with XXXX/XXXX, which are processed by Federal Reserve for a benefit for its Members.
All collections, foreclosures and coordinations of trades are done by XXXX XXXX and XXXX whose other branches defraud homeowners with fictitious Title Insurances via sham conduits who pose as issuers.
Self-proclaimed Servicers such as XXXX, PennyMac, XXXX, ect have nothing to do with any servicing or collection activities their duties are merely to pretend to be the actual parties who own someones obligation and help XXXX XXXX and XXXX to push people into defaults by any possible means junk insurances ; bogis fees non-existing deficiencies, ect.
In the meanwhile, IMAGES with INFORMATION about perfomance of someones loan are traded by multiply parties at the same time, and EACH of them receive a windfall of profits by selling thin-air backed virtual certificates which do not even physically exist, to investors Homeowner, in the meanwhile, are convinved that they repay someone some debt, return their only compensation for services to Federal Reserve Banks with interest, which I consider as a most cynical type of slavery ever existed on the XXXX.
Plus give up their home when XXXX XXXX and XXXX push them in non-existing defautls I want to share XXXX XXXX XXXX as well as Federal Reserve " purchases '' of XXXX ' notes. In fact, XXXX dropped their names on DTC/Black Knight system and turned the switch on Federal Reserve ( aka Big Banks ) who purportedly " assigned '' {$2.00} XXXX worth of non-MBS notes to XXXX XXXX.
Based on ALL evidence money for funding so-called mortgages are coming from the Common Pool operated by several banks ( aka Federal Reserve ) and securitization schemes with borrowers DATA about the SAME mortgage is traded by several players who have membership with DTC at the same time. This is how Ponzi Scheme with derivatives went well above {$1.00} XXXX SAME data about SAME loan is traded hundreds of times by different players.
According to XXXX XXXX prospectus, this fraud is ALWAYS operated all the same parties, Federal Reserve Banks.
XXXX XXXX will guarantee the timely payment of principal and interest on the Securities.
The Trust and its Assets The Trust will own a XXXX XXXX Platinum Certificate The Securities will be issued in book-entry form through the book entry system of the U.S. Federal Reserve Banks The Mortgage Loans underlying the Trust Asset will have, on a weighted average basis, the characteristics Each Class of Securities will be issued and maintained, and may be transferred only on the XXXX Book-Entry System. Beneficial Owners of Book-Entry Securities will ordinarily hold these Securities through one or more financial intermediaries, such as banks, brokerage firms and S-8 securities clearing organizations that are eligible to maintain book-entry accounts on the XXXX Book-Entry System.
Distribution Amount will be distributed to the Holders of record as of the close of business on the last Business Day of the calendar month immediately preceding the month in which the Distribution Date occurs. Beneficial Owners of Book-Entry Securities will receive distributions through credits to accounts maintained for their benefit on the books and records of the appropriate financial intermediaries.
So, INVESTORS do NOT hold ANY securities. Not mortgage backed or non-mortgage backed.
NONE. It all held by financial intermediaries who have absolutely no relationship to any loans.
This is why INVESTORS legal cases are usually tossed by the Courts, maybe with some minor settlements.
Investors actually knew that they are buying nothing but hopes to be paid even though their hopes were based on may will and ifs. Investors do not even have standing to sue since they do not own their securities. Financial intermediaries do.
Sponsor : XXXX XXXX XXXX XXXX XXXX.
Co-Managers : 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 Trustee : XXXX XXXX XXXX XXXX XXXX XXXX : The Trustee Closing Date : XX/XX/XXXX https : XXXX I demand PennyMac to show me THE LEDGER. NO, NOT THE ONE FROM THE SELF PROCLAIMED SERVICER PENNY MC.
SHOW ME THE ONE FROM THE COMPANY CLAIMING THEY PAID VALUE FOR THE DEBT.
I have been beating around the bush too long. In my opinion, allowing illegal collections by non-relevant parties like XXXX who appear in Courts and lie to Judges to process foreclosure to securitization players which results in a windfall payment to those players without any corresponding reduction of any loan account receivable is illegal and unmoral.
When I sent a QWR to PennyMac, they have no relation to my loan, thus allowing the other players - Federal Reserve Banks ( aka " Lenders '' and XXXX XXXX/XXXX/ XXXX FAF ) to claim plausible deniability for all the lies I am about to be told. The response is gibberish and in total is the equivalent of because we said so.
NONE of PennyMac 's responses contain ANY proof that they purchased my loan and have rights to collect.
And PennyMac does not say it because nobody does. And nobody says it because there is no person or business entity that has any confirmable entry on its ledgers showing payment of value in exchange for a conveyance of ownership of the underlying obligation.
This is not a technical objection. It is completely and utterly substantive. Without payment for the obligation, nobody can claim a loss. They cant claim a loss because there is no loss. Without a loss there can be no remedy.
The securitization players offered securities to investors in VIRTUAL form issed by DTC ( not PennyMac or XXXX ) on XXXX Name which MAY be pooled in some Trust - but never DONE.
In most recent publication by XXXX XXXX about their XXXX XXXX XXXX, all of the securitization documents are forward statements meaning they are referencing a future event. And none of the securitization documents convey any ownership, equitable or legal interest in any debt, note, or mortgage. And the future event never occurs. Thats the point for the Wall Street bankers.
The securitization of loans never happened. This means that all claims of rights or authority to administer, collect, or enforce any debt, note or mortgage are completely and utterly false if they are based upon securitization of the subject loan.
But the Wall Street PR machine has convinced virtually everyone including borrowers that the loans were securitized.
So, XXXX who cover for this fraud for decades, in order to avoid indictments and civil liability for outright lying, they are now referring to loan portfolios as reference pools files Yes, there were securities created, issued, sold, and traded. And in fact, the indenture did indeed have references to groups of data derived from announcements by investment banks referring to the performance of those loans. But that is not securitization of loans. It is the securitization of proprietary data relating to the performance of the loans not the ownership of loans ( which is what is required to speak of securitization of loans ).
Since they never retain any interest in any debt, note or mortgage they face no exposure to any risk of loss, and no liability for violations of federal and state statutes as issuers or lenders even though they are both. When they foreclose through various intermediaries ( usually a bank appearing solely as trustee of a nonexistent trust ) they still receive the net money proceeds but they have no loan account receivable to credit when they receive those sales proceeds.
The proceeds of such sales going to the investment bank who in turn distributed the money to the other players including borrowers. Without those securities, there would have been no transaction. But as a result of issuing and selling those securities and then derivatives of those securities the revenue from the sale of securities was in excess of 12 times the amount of the homeowner transaction. Read OCC report, XXXX XXXX makes about XXXX times per {$1.00} paid to me for financial services.
Nobody from XXXX XXXX wanted to be a lender who would then be accountable for violations of lending laws. So they made sure there was no lender.
We are all going down the same rabbit hole when we refer to the homeowner transaction as a loan. It was a payment to get the homeowner to execute documents that were labeled as loan documents a payment that had to be returned, leaving the homeowner with no compensation for his/her role in generating so much revenue.
In fact when you factor in payments labeled as interest the homeowner receives negative compensation. Viewed from that perspective the homeowner is paying for his own execution.
Everyone is shying away from the elephant in the living room.
If it was a loan, then there would be a lender with a risk of loss and who was accountable for compliance with lending laws particularly those requiring disclosure of compensation and revenue arising from the execution of the documents.
If it was a loan, then there would be a lender who was a stakeholder i.e., someone who retained risk of loss and intent for the transaction to be performed and successful.
Instead, homeowners got no lender and not even a clue as to who they did business with nor the true extent of revenue and profits generated from what was in reality, simply a securities scheme with no substantive characteristics of a loan.
Instead, the homeowner was left with a non-lender who had no role in underwriting the viability of the loan contrary to the express requirements of TILA. In fact, and again contrary to the express requirements of TILA, the homeowner was left with nobody who had any stake in the viability or performance of any loan.
To add insult to injury, the securitization players had substantial financial incentives to steer borrowers into nonviable loans against which the players bet would fail this producing even more profits.
** So tell me again why this is a loan. And tell me why the compensation that the securitization players chose to give to the homeowner should not be retained by the homeowner. And while you are doing that, tell me why the consideration for drafting the homeowner into a concealed securitization scheme should not be expanded.
But dont tell me PennyMac or any other self-proclaimed " servicer '' has any rights to collect or even can foreclose and evict a homeowner just to get back the only consideration he/she ever received from Big Banks. Thats not capitalism. It is a slavery theft and fraud.
PennyMac is merely an empty shell for securitization players such as XXXX XXXX, XXXX XXXX, XXXX, XXXX, XXXX, XXXX - each of whom operates its own scheme. Just because they dont refer to securitization does not mean that they are holding a ledger showing their payment for the debt and maintenance of a current asset account against which they are claiming a loss. If you dont understand what that means, go talk to a CPA.
|
| 01/01/2021 |
Yes |
- Debt collection
- Mortgage debt
|
- Attempts to collect debt not owed
- Debt was result of identity theft
|
|
Web |
|
|
Dear CFPB, Please find my demand to extend until XX/XX/XXXX, as provided by CARES Act, forbearance on repayment of my COMMISSION for involuntary servitude ( unpaid labor or slavery ) to Big Investment Banks each of whom operate a Ponzi Scheme with Pension Funds and other investors by selling BETS on securitized information based on my identity ( aka identity theft and identity trafficking ) for unjust enrichment masqueraded as a repayment of mortgage debt.
I submit this request through PennyMac, a fictitious servicer and fake owner of my purported debt since the REAL parties - XXXX XXXX with whom PennyMac has numerous repurchase agreements ; who is currently controls PennyMac by " buying '' most it its " shares '' and where Mr. XXXX XXXX worked in XXXX before he was called back to action to cover XXXX XXXX fraud with derivatives ; XXXX XXXX XXXX who cash my payments ; and other Wall Street stockbrokers want to hide behind a chain of fictitious intermediaries who call themselves servicers I also submit this request to the REAL servicers, XXXX XXXX ( former XXXX XXXX ) and XXXX who actually collect my repayments of commission via third-parties lockbox companies XXXX and its branch XXXX to forward them to Wall Street Stockbrokers as tax-free revenue while PennyMac never touched a cent from money they purportedly " collect '' from me.
Bear to repeat, PennyMac appeared in XX/XX/XXXX and started to lie non-stop that they purchased my loan and now investors and owners of my obligation. When I asked PennyMac who SOLD them my loan - PennyMac was never able to respond ; and nobody confirmed to be a Seller of my so-called " loan '' to PennyMac. No need to say, all my demands to identify the Seller, provide me prove of sale as required by UCC Art 9, 203 ; and provide me a release of lien by the prior " owner '' are ignored,.
When I asked PennyMac why my mortgage payments are pocketed by XXXX XXXX XXXX XXXX XXXX branch of Federal Reserve, PennyMac lied that they collect money to pass it to XXXX XXXX XXXX XXXX as a Trustee for a fictitious Trust ( obviously created by Mr. XXXX XXXX from his sick imagination ) XXXX purportedly pass my payments to investors - who according to another respond is PennyMac. ALL of these statements are absurd blatant lies but since Wall Street Banks control American Government and flooded all public offices with its Bankers ( like Mr. XXXX, former XXXX XXXX employee and CEO of XXXX XXXX ; Mr. XXXX, former OCC and XXXX CEO ; Mr. XXXX, OCC and former XXXX CEO ; Mr. XXXX, who defrauded investors from over {$5.00} XXXX as XXXX XXXX CEO and who lied to Senators Peters about Issuer XXXX ) - nobody is willing to do anything, Yet, neither VA or XXXX XXXX or anyone else can identify THE SELLER of my loan to PennyMac ; as well as no one can tell which Company has my so-called loan on their account receivable as an asset and to whom they purportedly guarantee my payments In XX/XX/XXXX XXXX XXXX filed a legal case against PennyMac for theft of proprietory secrets - such as stealing borrowers DATA from XXXX XXXX MSP to use it for its own unjust enrichment.
On XX/XX/XXXX PennyMac was removed from XXXX XXXX XXXX XXXX ( which is exclusively used by all GSEs, particularly VA to whom XXXX XXXX provide information about DATA related to some non-existing loan accounts, thus without access to this system PennyMac can not service aka see data about any loans.
Since XX/XX/XXXX my property taxes are paid by XXXX ( who along with XXXX XXXX are forging documents for illegal foreclosures which they pass to mill lawyers who present this fraud in all Courts ). All my repayments of one-time commission ( mislabeled as loan ) still collected by XXXX XXXX XXXX - but obviously not for benefit of any investors ; and even more definitely PennyMac does not have any relationship to servicing anyones accounts, they merely pose as Servicers, for a fee.
These servicers like XXXX and PennyMac ( aka XXXX ) are working for a fictitious entity that had not paid for nor did it own any loan nor the underlying obligation, The servicer had been inserted to imply the existence of a loan account receivable in order to foreclose.
FORECLOSURE is the real purpose of EVERY home purchase in America since it helps to produce a windfall of profits on Investment Banks like XXXX XXXX and XXXX ; cover for fatally damaged Titles and initiate a new securities scheme by selling stolen properties to new buyers, N o servicer has ever asserted or demonstrated that it was the bookkeeper for the accounting statements of the party named as a claimant in a foreclosure. They could neither state the identity of anyone who owned the underlying obligation nor could they tell us who received the money that I was paying. In fact, neither of the fake Servicers - XXXX and PennyMac - were neither receiving any money nor were they keeping the books. this was all funneled to thrid-party vendors mostly controlled by XXXX XXXX.
Foreclosure is the method by which the myth of the existence of a loan transaction was reinforced. Because the labels were consistently applied by the conduits, sham entities, and lawyers employed by the investment banks, and because the true nature of the deal had been consistently concealed, everyone believed the false narrative that the transactions with homeowners had been loans and that the holders of certificates were investors in those loans.
The concealment was successful and so millions of Americans were forced out of their homes by a void foreclosure process that resulted in revenue distributed to the various players in the foreclosure scheme and the various players in the securities scheme. But not all of them were forced out. Many, if not most, simply left the biggest asset of their lives because they did not understand that the money they had received was not a loan, it was a payment for their participation in launching the securities scheme that netted millions of dollars for each so-called loan.
And continuing collection and foreclosure in that context is cruel and inhumane. On average homeowners were paid around 8 % of the total revenue which seems fair. But then the deal was disguised as a loan which meant that the payment for their services had to be returned by the homeowner. This leaves the homeowner with negative consideration for sponsoring a securities scheme that made unconscionable profits through fraud and deceit.
If the investment bank wants that money back then they are admitting they never had any intent to honor any contract with the homeowner. They are seeking to leave the homeowner with negative consideration for the deal loss of equity because of inflated appraisals and nonviable payback schemes, plus loss of the only consideration they received from the investment bank, plus the interest paid, leaving all homeowners in a deeply negative position.
The loan agreement was no enforceable partly for the same reason that the securities deal is not enforceable. As a result of concealment, there could be no meeting of the minds the most basic element of an enforceable contract. And here again, consideration was totally absent. The investment bank was operating through sham conduits to lure the homeowner into what was labeled as a loan. but the investment bank had no lending intent nor any intention of establishing a loan account receivable on the accounting ledgers of any company or business entity. the loan simply did not exist to the investment bank. It only existed in the minds of the homeowner who accepted the label of borrower.
The homeowner borrower then issued a note and mortgage and the signature on other loan documents because of the belief that everyone involved was telling the truth and was operating in compliance with lending laws and common sense for lending transactions. In other words, the homeowner was operating under a false assumption created by lies, deceit, and concealment. The homeowner was not purchasing a loan product as you have seen above. There was no loan product. The homeowner was issuing the note as payment for something he/she never received.
When I contacted VA, XXXX XXXX and HUD representative, nobody can answer to WHOM they guarantee payments on my purported loan account and ALL their information about loans is based on MSP, which is a computer platform owned by XXXX XXXX ( who confirmed that they servicing 62 % of ALL loans ; and controlled by XXXX XXXX XXXX who are the actual parties behind every home purchase.
In XX/XX/XXXX to present time Federal Reserve purportedly started to buy trillions worth of so-called Mortgage Backed Securities ( no-existing ) from XXXX XXXX and all GSEs. No single homeowner received any Notices about such drastic change in ownership - because all these sales are fiction to defraud investors and homeowners.
Federal Reserve merely changed GSEs names with one of its owners-banks like XXXX XXXX, XXXX XXXX, XXXX XXXX, ect. as assignment - which was once again never disclosed to any homeowners.
Now Federal Reserve ( a common fund owned by private families, most of whom are Wall Street Stockbrokers ) offers very low rates on return of the payment to borrowers for undisclosed participation in Wall Street Ponzi Scheme - which is another scam to create more foreclosures as profits for Big Banks.
They paid the homeowner to acknowledge the existence of a fictitious loan transaction so that the investment bank could sell securities that were unrelated to ownership of the loan.
That money is far from cheap. Big Banks will take everything we have and more. And this is that Big Banks are doing during last 20 years - defraud, steal and defraud again. All with total impunity.
Since XXXX to present time Wall Street Stockbrokers RECEIVED HUGE PAYMENTS BUT THEY ARE TRYING TO GET THE PROPERTY TOO AS WINDFALL TO ONE OR MORE OF THESE FRAUDULENT PLAYERS. THE BORROWER IS LEFT HOLDING THE BAG WHILE EVERYONE ELSE GETS PAID The most reliable indicator of housing value came from a simple proposition : median income ultimately determines value because median income determines what people can pay. According to Federal guidelines, a transaction labeled as a loan is only viable if the payments do not exceed 31 % of household income. So do the math. {$68000.00} per year is {$5700.00} per month. 31 % percent of that is {$1700.00} the maximum amount that the household can safely afford to pay for a mortgage payment. The average 30 year fixed rate is 4 %. So that payment could service a maximum loan product of around {$360000.00}. And that is how a house zoomsup in price but not in value.
The problem with those computations is that they are riddled with fallacies and lies. It assumes that gross income can be measured by the wages of the household when the first dollars the can be spent on living are now around 20 % less than gross income. So the real viability equation would reflect median household income to be around {$4600.00} a figure to which virtually every wage earner in America can attest. That in turn reduces the highest servicing payment for a mortgage payment to be reduced to {$1400.00}. So a conforming so-called loan is actually nonviable despite the apparent compliance with Federal guidelines. In fact, that family can only afford a mortgage loan of around {$280000.00} but they have a {$360000.00} loan.
Since homebuyers were already underwater at the start of the deal, they will be wiped out when the foreclosures start either directly by foreclosure or indirectly as the prices of homes come down relative to median income.
Meanwhile, the Wall Street investment bank that sold them that deal and who labeled it as a loan never intended and never allowed itself to be a lender who was required to conform to requirements in lending and consumer protection laws. They paid the homeowner to acknowledge the existence of a fictitious loan transaction so that the investment bank could sell securities that were unrelated to ownership of the loan. They made at least {$4.00} XXXX on the deal with the homeowner ( reported as {$360000.00} ).
So in a rinse-repeat of XXXX-XXXX, millions of homeowners will go into foreclosure, the economy will suffer from another recession, and the investment banks will be laughing all the way to their offshore piggy banks that now amount to many trillions of dollars siphoned out of U.S. households.
This is all happening because very few people are even curious enough to learn what happened in the mortgage meltdown. While in fact people like myself homeowners must have titles and possession to their homes as just compensation for the securities scheme, while Big Banks do anything possible to make families to lose their homes in legal proceedings that are falsely labeled as foreclosures.
So why are Wall Street investment bankers giving out money on these terms? The answer is simple. first, they are making {$4.00} XXXX on the deal. Second, they are only paying a small fraction to the homeowner and they are luring the homeowner into a disguised deal that requires the homeowner to pay back the only compensation he/she ever received plus interest. It costs nothing for investment banks to get into this deal. No risk of loss. No risk of sanctions for violating lending laws because they never become lenders. No loan account receivable to charge off so nothing to report to shareholders about any losses arising from homeowners not making scheduled payments. Wouldnt you do that deal if you were in the position of the investment bank?
But since PennyMac continues to lie and all so-called consumer protection agencies continues to cover for these lies and tell the same lies from Wall Street Banks scripts - I use them as intermediaries with Big Banks to demand to extend my forbearance of repayment of my COMMISSION for involuntary servitude to Big Investment Banks ( XXXX XXXX XXXX, XXXX XXXX and whoever else operates its derivatives schemes based by trading and trafficking my identity on the open markets, a full investigation, compensation for financial services at least 20 % and compensation for extreme emotional distress, total no less than {$50.00} XXXX.
Regards XXXX XXXX
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| 10/27/2020 |
Yes |
- Debt collection
- Mortgage debt
|
- Attempts to collect debt not owed
- Debt was result of identity theft
|
|
Web |
Servicemember |
|
Dear CFPB, Please find my complaint against PennyMac ( a fake Servicer of non-existing " loan '' ) and their Master, XXXX XXXX XXXX, member of Federal Reserve, who operates a massive scam with so-called " mortgage backed securities '' - aka derivatives based on my stolen identity and information about my loan which are issued by Federal Reserve and its subsidiaries, XXXX XXXX XXXX and XXXX XXXX XXXX, who are the actual issuers of all non-mortgage backed and other fictitious securities.
PennyMac is a group of low capitalized criminals from Countyrwide Finacial who were renamed as " PennyMac Financial " by XXXX XXXX XXXX, a fictitious " buyer '' of non-existing " default debt '' from Fannie Mae ( whose President Mr. XXXX XXXX XXXX is a founder of XXXX, XXXX ) and other XXXX who never owned this " debt '' to sell it to anyone.
Another part of XXXX XXXX, XXXX, is now acting as XXXX XXXX XXXX, XXXX and serves the same purpose pretend to be " lenders '' ( without money ) and " servicers '' of non-existing accounts which are not on any Company 's ledger.
Neither XXXX or XXXX never lend any money to any homeowner ; and never serviced any " Trusts '' -for two reasons. First, here are no Trusts for them to service ( all so-called " securities '' are issued by Federal Reserve member, XXXX XXXX XXXX and its branch, XXXX XXXX XXXX via Federal REserve book-entry system on Street 's name. See XXXX XXXX Prospectus ; and XXXX bogus " settlements '' -which are ALL done via book-entry system operated by Federal Reserve and DTC.
Second, nobody needs XXXX or XXXX 's " services ''. Everything is done by other parties - Transcentra/Regulus ; XXXX XXXX XXXX XXXX ( XXXX ) and XXXX, XXXX ( XXXX ) who are the actual servicers of information about loans sold to investors as derivatives issued on street name via Federal Reserve book entry system, as defined in XXXX XXXX ' prospectus.
This " securitization '' scam is a fiction from the beginning. The Elephant in the Room is Federal Reserve, a self-regulated private corporation owned by eight families who own America.The families are : the XXXX XXXX XXXX XXXX, XXXX XXXX XXXX XXXX XXXX XXXX XXXX ; the XXXXXXXX XXXX XXXXXXXX XXXX XXXX ; the XXXX XXXX XXXX ; the XXXX XXXX XXXX ; and the XXXX XXXX XXXXXXXX XXXX XXXX.
So, no surprise that when XXXX XXXX recently looted XXXX from over {$16.00} billion, American Government did NOTHING to stop them.
Big Banks are all members of Federal Reserve and so-called " loans ''
are coming from common operating pools held by Big Banks and not related to any investors. GSEs are acting as cover up with " guarantees '' on non-existing loan accounts ; have no idea to whom they " guarantee '' payments ; and only have information about so-called loans provided to them by Big
Banks via XXXX which is operated by XXXX XXXX, XXXX XXXX XXXX.
Everything in XXXX XXXX 's Prospectus is in Future Tense : XXXX, SHALL, XXXX - IF a condition precedent would happen. In other words, XXXX XXXX purchase loans - IF here is someone who can sell them. But here is NO ONE who can sell " loans '' to GSE to guarantee. If here are no loans, here are no guarantees.
Federal Reserve created a scheme where so-called " securities '' are " issued '' in the book-entry system on street name by its member, XXXX XXXX XXXX, the biggest clearing house in the World with more than {$1.00} Quardillion of transactions.
ALL securities are placed with the only one beneficiary - XXXX 'XXXX branch XXXX XXXX XXXX who is the sole beneficiary.
Here are NO Trusts, no Trustees, no guarantees and no servicers. Everything PennyMac tells in their responses is a lie to cover for the real parties - Federal Reserve and its members Investment Banks - who pay PennyMac small fees to pose as " Lenders '' and " servicers '' of non-existing loan accounts.
Investors ( mostly Pension Funds ) buy derivatives offered by Big Banks, issued by XXXX on Street name.
Nobody buy or sell any loans because these " loans '' were one-time payments to potential borrowers who were drafted in Big Banks Ponzi scheme as original issuers of security called " Promissory Note '' - which was converted into an image ; placed into XXXX XXXX/XXXX document depository ; assigned to XXXX XXXX XXXX as an owner - and sold to investors as a derivative to some non-existing " asset '' owned by XXXX XXXX XXXX.
All mortgage and escrow payments are pocketed by Big Banks as tax-free revenue. All Property taxes, insurances and so-called " servicer 's advances '' are paid from operating funds collected from investors money. In other words, Michigan Public Employees Pension Funds who invested {$2.00} XXXX pension money in some shady " securities '' issued by very shady XXXX XXXX Corporations who refused to disclose its income to SEC, pay 10 % +interest return to themselves from their own money, aka Ponzi Scheme The Government knows about it and keep quiet because Federal Reserve ( which is not Federal and not a Reserve ) and its members Big Banks own the Government and everything else in America .
PennyMac lie about their " Issuer '' status as well as about their " ownership ''. The Issuer and owner of DATA about " loans '' is Federal Reserve and their members, DTC and XXXX XXXX XXXX.
XXXX XXXX 's Prospectus states as following : The Government National Mortgage Association Guaranteed XXXX XXXX XXXX XXXX, which will be sold from time to time in one or more series represent undivided ownership interests in Series Trust Funds ( each, a Series Trust Fund ) established from time to time.
The key word " WILL be '' sold and represent ownership " established from time to time ''.
In other words, PennyMac can ONLY buy a certificate issued by
Federal Reserve - but not anybody 's loan which XXXX XXXX never had - and receive an interest payment which is solely based on discretion of XXXX Bank who operates the Scheme. Which according to XXXX XXXX is Federal Reserve Bank of New York.
According to Prospectus It is uncertain when payments will be made on your securities. Payment of the outstanding principal amount, including accrued interest, on the securities is guaranteed by XXXX. The timing of any payment of principal and interest, however, is uncertain.
Forms of XXXX XXXX XXXX XXXX ; Book-Entry Procedures Each XXXX XXXX XXXX XXXX initially will be issued and maintained in Book-Entry Form through the book-entry system of the U.S. Federal Reserve Banks ( the XXXX Book-Entry System ) .Each XXXX XXXX XXXX Series initially will be represented by one or more certificates registered in the name of the Federal Reserve Bank of New York ( together with any successor or other depository selected by XXXX XXXX XXXX the Depository ). This Base Offering Circular refers to those whose names appear on the Register as registered holders of the XXXX XXXX XXXX XXXX ( which will include the Depositorys nominee, XXXX XXXX XXXX, and any registered holders of Certificated XXXX XXXX XXXX XXXX ) as Holders of those XXXX XXXX XXXX XXXX.
The XXXX Book-Entry System is an electronic facility operated by the U.S. Federal Reserve Banks for maintaining securities accounts and for effecting transfers. The XXXX XXXX system is a real-time, delivery-versus-payment, gross settlement system that allows for the simultaneous transfer of securities against payment. The XXXX Book-Entry System is used to clear, settle and pay not only XXXX XXXX XXXX, but also all U.S. Treasury marketable debt instruments, the majority of book-entry securities issued by other government agencies and government sponsored enterprises and the mortgage backed securities issued by the Fannie Mae or XXXX XXXX.
XXXX ownership of a XXXX XXXX XXXX XXXX XXXX will be subject to the rules and procedures governing the Depository and its participants as in effect from time to time.
Since Federal Reserve, XXXX and XXXX XXXX XXXX are non-regulated ( self-regulated entities ), here are no rules or procedures governing them, and no one who can control them. I many times contracted CFPB which is an agency chartered with the responsibility to protect me.CFPB always closed my complaints, without ANY investigation.
As a result of CFPB 's failure to adequatelyresearchand investigatethe banks, CFPB isallowing and encouraging disinterested parties to enter into the lending business without being subject to law enforcement or regulation intended by both Congress and state legislatures.
The perpetrators have deep pockets and take advantage of the expense and time required for litigation.
I am just a poor homeownerwho relieson agencies like CFPB to level the playing field.
As a direct and proximate result of the above. I am being injured financially, personally, emotionally, mentally and physically -- - having to master subjects that only the most sophisticated investment bankers could ever understand. I am being forcedto deal with highly criminal impersonators - who
pretend that the " own '' a loan which they never did since the " loan '' was in fact a payment to me for participating in Big Banks Ponzi Scheme ; and defend claims without merit.
CFPB have received hundreds of thousandsof complaints, emails and announcements and notices revealing the fraudulent nature of nearly all residentialloans. Yet CFPB engage in " settlements '' that ratify and encourage this criminal behavior.
Apparently for purely political reasons CFPB continue to treat the servicers as authorized agents and even settle with them including terms that no serviceis authorized -- - to offer enforceable
modification agreements.
Apparently for purely political reasons CFPB refuse to acknowledge what nearly everyonenow knows and at least partially understands, to wit : that investment banks have been and continue to tender loan agreements in bad faith throughintermediaries with the goals of not being identified or regulated as a lender and not having the homeowner transaction show upin their reporting.
As a direct and proximate result of CFPB failure and negligence in enforcementof presently existing laws investment banks have further
initiatedmillions of foreclosures for the sole purpose of increasing their profits from false claims of securitization residential loans. ( 1 ) Those loans were never sold or securitized. ( 2 ) All claims of authorization and ownership and rights to enforce derived from apparent securitization are false.
I was lured by false pretenses and lulled into the falseimpression of it being a loan of money with a creditor and loan account that was required to be paid.
The true nature of the transactionwas that my signature on a note and mortgage was the launchingpoint of a scheme to issue securities whose existence and value was derived on bets about reports on data about my loan and not based upon ownership or collection of payments from my loan.
Contrary to the requirements of the Federal Truth in lending Act, there was no disclosure of the participation of the investment bank that was funding the transaction ( usually with borrowed money ) and that was managing the afterbirth which includes administration,
collection and enforcement of a nonexistent loan account, nor any clue or disclosure as to the enormous revenuesgenerated from the securitization scheme that depended entirely upon my signature.
The consideration I received for my participation in the hugely profitable securitization scheme was XXXX becauseI was involuntarily drafted into the securitization scheme by outright lies and deception.There is no company in existence which is carrying my loan account as a receivable or other asset on its balance sheet. There is no loan account. There is no owner of the loan account and hence no creditor who could be financiallyinjured by any announcement of a lack of voluntary or involuntary payment. There is no creditor who is
madewhole by foreclosure -- - only an investment bank hiding behind several layers of companies who are all feeding off of the chum of the most important asset in my financialportfolio -- - in which no other company has an actual confirmable financial interest relating to what was promoted as a loan.
The foreclosure scheme is anotherPonzi scheme that drains each individualhomeowner and our society solely to satisfy greed of investment bankers.
It is happening because CFPB is not performing its task as assigned by its charter. It will continue to happen until CFPB does its job.
I am in doubt as to my rights because the CFPB insists on proceeding as though the loans and foreclosures are real financial events in the real world while the foreclosures actually result in payment to companies other than the named Plaintiff/claimant/Beneficiary. In essence CFPB is creating precedent which is translated into law.
By forcing me and otherhomeowners and Pension Funds ( particularly MI pensioners ) to attempt to defend againstsmoke and mirror claims offered by lawyers hiding behind litigation immunity on behalf of unnamed parties who individually, jointly andseverallyenjoy undisclosed revenues and profits from foreclosures at the expense to any reduction of debt after receipt of voluntary and involuntary payments, I have been forced into the untenable situation in which the strategy of the investment banks is simply to outlast and outspend the homeowner faced with losing their home to a named fake " servicer '' that will never get legal title nor the proceeds of any sale.
Moreover, Federal Reserve, the real party behind this Ponzi Scheme, purportedly " buy '' XXXX XXXX securities ( read : adjust XXXX XXXX XXXX XXXX and XXXX 's database with the new information ) - while XXXX continues to lie about their status as " owner '' ; " issuer '' and " servicer '' by merely presenting me falsified " financial statements '' which were either fabricated by PennyMac or provided to them by XXXX XXXX or XXXX.
I demand CFPB, DOJ, MI XXXX and XXXX to conduct FULL investigation against XXXX ; XXXX ; XXXX XXXX, XXXX, and the Investment Bank ( here XXXX ) ; ; the name of the " Seller '' of my loan to XXXX ; compensation {$130000.00} for damaged Title ; treble damages for fraud ; treble damages for racket ; and {$50.00} XXXX for extreme emotional distress.
|
| 07/08/2020 |
Yes |
- Debt collection
- Mortgage debt
|
- Attempts to collect debt not owed
- Debt was result of identity theft
|
|
Web |
Servicemember |
|
Dear CFPB, Senate, DIFS, AG, DOJ and other authorities Please find my complaint against PennyMac Loan Services , LLC ( XXXX XXXX XXXX , XXXX ) and XXXX XXXX XXXX owner of XXXX/ XXXX XXXX XXXX ; XXXX XXXX who originates and servicers 62 % of ALL transactions related to purchases of securities called " Promissory Note '' and " Mortgage '' from " borrowers '' which are misrepresented to homebuyers as a " loan ''.
Money for these transactions are coming from Big Investment banks ' ( aka table funding ) pools who are the actual buyers of Promissory Notes to use these instruments manipulated by Mr. XXXX XXXX to initiate a Ponzi scheme with derivatives and hedge contract which are sold by Wall Street brokers to investors as " unsecured Notes ''. The most recent example is XXXX XXXX XXXX XXXX offering of XXXX XXXX of unsecured notes under 17.95 % annual interest on XX/XX/XXXX.
These money pools are consist of funds collected by Stockbrokers from Investors and not related to any debt or properties because residential debt is never sold or securitized. And it means that the homeowner transacted was actually funded by a third party ( investment bank ) and what THAT means is that no actual sale ever took place of any debt, note or mortgage.
That is securitized is borrowers personal information - manipulated by Mr. XXXX XXXX who is the actual party behind originating, servicing and illegally foreclosing millions of homeowners whose identity Big Banks sell on the open market to create a windfall of profits, from {$12.00} ( XXXX ) to {$180.00} ( XXXX XXXX ) - while Mr. XXXX XXXX relentlessly forge and manipulate information about " sales '' of trillions of dollars " loans '' which never happened in the real life.
That means that the homeowner transactions that were falsely labeled as loans were never securitized. In other words, the whole thing is a lie.
Surprisingly, this most criminal organization ever existed in the World - Mr. XXXX XXXX XXXX XXXX mob - to this day incredibly remains out of the limelight despite being the only company whose division president, XXXX XXXX, went to jail for falsifying documents. It wasnt really her fault. In fact, XXXX, XXXX was not even her Company because Mr. XXXX created his own XXXX, XXXX where XXXX XXXX was not a party.
Mr. XXXX XXXX XXXX, XXXX which was originally incorporated in Colorado in XXXX, and registered in GA under XXXX on XX/XX/XXXX was dissolved on XX/XX/XXXX.
On the same day, XX/XX/XXXX another Company named XXXX, XXXX file XXXX, was registered by XXXX XXXX, lawyer for XXXX XXXX XXXX aka XXXX XXXX XXXX. ( now XXXX XXXX ). On XX/XX/XXXX Mr. XXXX XXXX filed an Amendment which vested all management of XXXX, XXXX on its members - XXXX XXXX XXXX aka XXXX XXXX. This XXXX XXXX is active as of today, but XXXX XXXX had no relationship to its activities since at least XXXX - or even at its formation.
It is just a small example how Mr. XXXX uses fake actors to defraud homeowners and Courts about the real parties and the real nature of the transaction - purchase of Promissory Note from a home buyer to initiate Securitization scheme based on manipulated by Mr. XXXX XXXX data.
Companies called themselves " Servicers '' and " Lenders '' do not lend or service anything because they don't have money to fund any mortgages and because here is nothing to service - no Trusts were established - much less purchased anything from so-called " Lenders '' My transaction with XXXX XXXX XXXX was a typical scam operated by Mr. XXXX and an Investment Bank [ s ] via sham conduits.
XXXX, acting as a " Lender '' merely received a fee for collecting my data and passing it to XXXX XXXX via their sham conduit XXXX XXXX XXXX , XXXX who has a password and login to XXXX XXXX XXXX system.
XXXX XXXX, acting under glimpse of " XXXX '' ordered a Flood Determination Map from XXXX - who uses FEMA 's forms pretending that this Map is coming from FEMA. In fact, FEMA has nothing to do with determination, they merely enjoy free and easy profits from force placed junk flood insurances which help XXXX XXXX to place financial hardship on working families to push them in foreclosures to launder fatally damaged property Titles.
Most homeowner transactions are established on XXXX. The banks, in their never ending quest to send us down rabbit holes only present the servicers and their business records.Their strategy is to get homeowners and the court to presume that in the absence of payments someone must have suffered a financial loss since the debt was clearly established in a transaction in which the homeowner received money and issued a note and mortgage. In the present securitization era that paradigm is wholly untrue but not obvious because the banks turned lending on its head. The homeowners took what they thought was a loan but the banks were not lenders and had no intention of becoming lenders.
And it means that the homeowner transaction was actually funded by a third party ( investment bank ) and what THAT means is that no actual sale ever took place of any debt, note or mortgage.
And THAT brings to the central issue on what basis can a non-creditor appoint a designee or nominee to collect on a debt that they dont own?
And without a sale to the trustee of the XXXX trust it is the Depositor who owns the homeowner obligation. That means under black letter law that neither the trustee nor the trust can be named as claimant or beneficiary or plaintiff in a foreclosure proceeding because they are not a creditor.
Which turns XXXX and PennyMac 's statements about their " appointments '' as " Servicers '' or " sales '' of my loan by parties whom they can not identify into blatant lies.
Which are specially obvious from PennyMac 's false and contradicting statements.
On XX/XX/XXXX PennyMac, long time a client of XXXX XXXX /XXXX who never funded or serviced any loans, but merely pretended to be a " Lender '' and " Servicer '' for a fee, sent me a letter informing that " servicing of your loan was transferred '' to PennyMac .
In other words, an Investment Bank and XXXX XXXX switched XXXX ( who was a prior fake Servicer ) with a new " servicer '' PennyMac by providing them a new login and password to XXXX.
Or PennyMac stole my information from XXXX XXXX XXXX database to use it in their own system because on XX/XX/XXXX PennyMac sent a letter to XXXX XXXX were they informed XXXX XXXX that they are not going to use their system anymore.
As the result, XXXX XXXX terminated PennyMac 's contract on XX/XX/XXXX and on XX/XX/XXXX filed a legal action XXXX XXXX v. PennyMac where XXXX explained in details how exactly they manipulate borrowers data and PennyMac 's and other Servicers ' role as users with a very limited access to XXXX XXXX Data.
PennyMac ( who was not able to provide me ANY proof of their ownership of my debt, including closing documents which were emailed to PennyMac by XXXX XXXX after I submitted complaint with XXXX XXXX ), responded with antitrust case where PennyMac accused XXXX XXXX in monopolization of servicing industry ; and In addition to XXXX, XXXX XXXXoffers various other XXXX branded servicing products, including XXXX Foreclosure, XXXX Bankruptcy Solution, and XXXX XXXX XXXX, as well as XXXX for correspondent loan origination, delivery, and purchasing activities. In other words, 62 % of all loan originations, servicing and foreclosures are conducted by XXXX XXXX who during last 50 years relentlessly forge documents presented to the Courts to steal homes from over 30 million working class Americans as tax-free revenue for Investment Banks - whose pool money aka table funding are used to fund a purchase of Promissory Note from a borrower, or a one-time payment which homeowners are expected to repay with interest.
PennyMac 's role is to act as a " real party '' who " owns '' the debt by virtue to their ability to print payment history from XXXX XXXX system. Which is a flagrant fraud upon the Court and violation of every single law in the USA, specially UCC art 9 203 which requires a value to be paid for the debt - which PennyMac never did.
Yet, PennyMac lied to me about their " purchase '' of my loan from someone and their " ownership '' of my loan as a " creditor.
This is a lie - and PennyMac personally admitted it in their case against XXXX XXXX.
PM said : There are high barriers to entry in both the Mortgage Servicing Platform Market, and the Platform Software Applications Market, including, among others, XXXX XXXX overly restrictive license terms, regulatory constraints, capital and development entry costs, entrenched buyer preferences or loyalty for existing systems ( including XXXX ). In other words, it is clear WHO is the real party behind all " servicing '' and who place high restrictions on users because XXXX XXXX does not want to be exposed as the main party in the biggest crime ever existed in the World history.
Next, PennyMac said : In XXXX, when PennyMac was a small startup company, it approacheda XXXX XXXX predecessor, XXXX XXXX XXXX XXXX XXXX ( XXXX ), to servicePennyMacs loans on the MSP system, which was then, and remains, the dominantmortgage servicing platform. Although XXXX was largely an off the shelf productwith limited capabilities, PennyMac, as a start-up company in the mortgage servicing business, had little option but to license XXXX due to the extremely limited options available in the market.
in other words, PennyMac try to convince the Judge that they had money to originate and fund mortgages but struggle to pay a fee for servicing them via XXXX XXXX platform - while they they suppose to service loans anyway, regardless if they have a contract with XXXX XXXX or not. Which lead to a conclusion that without XXXX XXXX system here is no servicing options for PennyMac at all.
The reasonable question is - if PennyMac is the real lender and servicer, WHY they have to use XXXX XXXX system? And who appoint PennyMac as a Servicer? XXXX XXXX who never appeared in any transaction with homeowners? The only reasonable answer is - because PennyMac is a fake Servicer.
PennyMac continued : Shortly thereafter, in or around XX/XX/XXXX, XXXX spun off XXXX and related products to a newly-created entity, XXXX XXXX XXXX XXXX XXXX ( who incorporated their own XXXX, XXXX in GA on XX/XX/XXXX and passed all management functions to themselves on XX/XX/XXXX, thus leaving XXXX XXXX aside as a fake party whom they later exposed as a main forger. XXXX, who had nothing to do with XXXX, XXXX since XXXX, was aware about suicide epidemic among key witnesses after murder of XXXX XXXX, and apparently agreed to serve in jail for the team where she did not belong, either because of fear or for the money.
PennyMac further said : In XXXX, after XXXX was accused of multiple fraudulent practices andagreed to pay substantial sums to state and federal regulators, XXXX XXXX XXXX XXXX XXXX. ( XXXX ) purchased XXXX and re-branded XXXX as XXXX XXXX XXXX XXXX. In XXXX, XXXX nominally spun off XXXX XXXX as a separate entity, but the two companies continue to share, among other things, multiple common senior officers and directors.
The truth is - Mr. XXXX never purchased XXXX since it belonged to him from the beginning, they merely changed its corporate name just like XXXX XXXX was renamed as XXXX and PennyMac, under the same leadership and with the same course of business - lie and defraud customers and investors on behalf of Investment Banks, for a fee.
According to PennyMac 's complaint, VA loans and USDA loans are subject to purchase and securitization by the Government National Mortgage Association, better known as XXXX XXXX. Mortgage servicers, whether as banks or as non-bank servicers, are likewise subject to detailed reporting obligations, as well as examination, by investors, that is, the entities that actually own the loans that are being serviced. In addition to XXXX XXXX, the other significant governmental investors are the XXXX XXXX XXXX XXXX ( XXXX XXXXXXXX ) and the XXXX XXXX XXXX XXXX XXXX ( XXXX XXXX ), which collectively own the vast majority of residential mortgages originated in the United States. [. ] In other words, purchaser, Investor, owner and issuer of securities backed by my loan must be XXXX XXXX, who does not sell performing loans ( if they ever had them, which based on XXXX XXXX XXXX testimony were never sold to any investors ) But in every respond to my inquiries, PennyMac relentlessly lie that purchaser, investor, owner and issuer of securities backed by my loan is PennyMac, without any evidence in support.
Moreover, since PennyMac can ONLY legitimately " service : loans via XXXX XXXX system and XXXX XXXX terminated its contract with PennyMac, they have absolutely no rights to even claim themseves as Servicers. No need to say as " investors '' or " creditors '' Since my transaction with XXXX was actually funded by a third party ( investment bank ) and no actual sale ever took place of any debt, note or mortgage, here is no legitimate creditor who can appointed ( or appointed ) XXXX, XXXX or PennyMac as " Servicers '' since here are no Trusts were formed, thanks to Mr. XXXX XXXX XXXX.
Big Banks use PennyMac to defraud borrowers and investors to claim non-existing " damages '' " suffered '' by PennyMac and their " Servicer 's Advances '' to investors ( which PennyMac never did ) to receive another huge bailout from taxpayers - and send PennyMac in bankruptcy to cover for all crimes - just like their sent XXXX XXXX in jail.
This is the only reason why Investment Banks still allow PennyMac to pose as a " Servicer '' even though they do not have a contract with XXXX XXXX to use their servicing platform.
I demand to investigate XXXX/XXXX XXXX and PennyMac for fraud nd fraududlent transfer, compensate me for all damages, remove any illegal liens from my Title ; and pay me a restitution and royalties from all trades.
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| 11/21/2020 |
Yes |
- Debt collection
- Mortgage debt
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- Attempts to collect debt not owed
- Debt was result of identity theft
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Web |
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Complaint against PennyMac Loan Services , LLC ( aka XXXX XXXX ) XXXX XXXX XXXX ( co-owner of Federal Reserve ) XXXX XXXX, XXXX ( XXXX ) ; XXXX, XXXX ( partner with XXXX XXXX XXXX ) ; XXXX XXXX for the Biggest economic fraud ; massive securities fraud, identity theft and other crimes Dear CFPB, please find my Complaint against PennyMac, a sham conduit for Federal Reserve co-owners ( XXXX XXXX XXXX, XXXX XXXX, XXXX, XXXX XXXX ( who is currently the main co-owner of PennyMac ) and other parties involved in this Biggest economic fraud and crime against humanity.
CFPB and the Government are fully aware of these crimes and agreed to participate because Big Banks promised to indemnify Government Sponsored Enterprises - in exchange of cover up for this Ponzi Scheme with non-mortgage backed securities issued by XXXX XXXX XXXX and based on Book Entry Credit by a participant who never appear in any mortgage or foreclosure XXXX XXXX XXXX an unregulated member of XXXX XXXX XXXX.
Big Banks ( Stockbrokers ) created a most draconian mystification and fraud against Investors ( Pension Funds, like MI XXXX XXXX XXXX whoo invested over {$2.00} XXXX in thin-air JUNK sold to them by Big Banks sham conduits like non-buyer of non-existing default debt XXXX XXXX XXXX ( owner of XXXX XXXX XXXX , XXXX aka XXXX XXXX ) and other impersonators hired by Big Banks to pose as issuers of some securities which none of those fake issuers never had, no need to say never owned.
The transaction with a borrower was the reference point for securitization, to wit : the issuance and sale of securities. And those securities were not conveyances of any right, title, or interest in any debt, note, or mortgage. So the fact that the securities were bets on data contained in discretionary reports issued by the investment bank posing as Master Servicer does not mean the debt was sold. It wasnt. Like the supposed XXXX XXXX the named claimant has no loss and in fact has no interest in the outcome of litigation except as a profiteer.
This is reminiscent of the repeated reports to the SEC of wrongdoing by XXXX XXXX. The reports were regarded as too absurd to be true on the scale that was reported until 10 years later when XXXX himself admitted all charges and was sent to prison. Just because a lie is a whopper doesnt mean that it can be turned into truth. Eventually, financial historians are going to see Securitization for what it is a PONZI scheme. Nothing was securitized.
It is understandable that Homeowners are a bit put off by the apparent complexity of securitization. But it becomes much simpler when you realize that securitization never occurred. The securities that were issued and sold to investors did not represent ownership of any debt, note, mortgage, or payment.
ALL so-called securities are Book-Entry CREDIT issued by XXXX XXXX participant XXXX XXXX XXXX who issue a Participation Certificate based on some mortgages which the Seller ( in my situation actor-for-hire XXXX XXXX XXXX XXXX ) SHALL or WILL sell - but never did it.
All consecutive sales are fictions to defraud homeowners and investors. Nobody SELL or BUY any mortgages, as well as nobody ever issued any Mortgage-Backed Securities.
ALL securities sold to Pension Funds are backed by thin-air promise by XXXX to pay, at its discretion - because Investors voluntarily signed away all their rights for recovery.
And all this SCAM is operated by owners of private Federal Reserve who agreed to indemnify GSEs from liabilities to investors for their fictitious guarantees of non-existing accounts RECEIVABLES for mortgage loans, which are destroyed by Big Banks at origination to be able to sell DATA ( bets ) about performances of someones loans to investors by several participants at the same time.
Mortgages and Notes are scanned and placed into Big Banks main depository held by XXXX XXXX , XXXX ( XXXX XXXX XXXX, owner of numerous Title Insurance Companies such as XXXX XXXX, XXXX XXXX, eat ) and XXXX, XXXX ( partner with XXXX XXXX XXXX, owner of XXXX XXXX XXXX ). Both XXXX and XXXX use sham conduits such as XXXX XXXX XXXX to sell their fictitious Title Insurance Policies which do not cover mortgages with non-existing Lenders who pass borrowers one-time PAYMENTS from Big Banks operating pool for their involuntary participation in Big Banks securitization scheme.
This ONE-TIME payment ( aka It is merely an acknowledgment of payment for services rendered by the homeowner ) is masqueraded as a loan which borrowers ( aka initial issuers of a security called promissory Note converted into DATA ( images ) and sold by Big Banks to investors as derivatives for 12-184 times more than paid to the borrower for their signature on documents.
The debt exists only if someone maintains a current ledger entry on their own books of record that shows they paid value for the underlying obligation, along with having supporting documentation ( proof of payment ). If they didnt pay value then they dont own it under both accounting rules and the laws of every jurisdiction. Neither XXXX or PennyMac NEVER purchased ANY of my so-called debt - because here was NO SELLER.
So-called loan from XXXX XXXX ( fake Lender was simply just a compensation to me for being drafted into a concealed securities scheme operated by Federal Reserve owners ( Big Banks ) though their XXXX XXXX XXXX and XXXX XXXX XXXX - who never appeared in any loan documents or any foreclosure cases.
XXXX and PennyMac ( self-proclaimed Servicers of nothing ) work for fees to lie to borrowers and Courts, knowing that their lies will never be investigated and will be covered by the Government who allows this Scheme to operate and defraud Investors from trillions of funds.
Federal Reserve owners ( XXXX XXXX, XXXX, XXXX XXXX, XXXX XXXX, XXXX, ect. ) converted US housing market into a biggest crime scheme where homeowners deliver ALL their wealth to modern slave owners under glimpse of repayment of debt - which was not only paid off 12- 184 times ( without any reduction to the homeowner ) but also force to return their only payment with interest, thus receive negative compensation.
The securitization players offered securities to investors, the proceeds of such sales going to the investmentbank who in turn distributed the money to the other playersincluding borrowers. Without those securities, there would have been no transaction. But as a result of issuing and selling those securities and then derivatives of those securities the revenue from the sale of securities was in excess of 12 times the amount of the homeowner transaction.
Nobody wanted to be a lenderwho would then be accountable for violations of lending laws. So they made sure there was no lender. We are all going down the same rabbit hole when we refer to the homeowner transaction as a loan.It was a payment to get the homeowner to execute documents that were labeled as loan documents a payment that had to be returned, leaving the homeowner with no compensation for his/her role in generating so much revenue.
If it was a loan, then there would be a lender with a risk of loss and who was accountable for compliance with lending laws particularly those requiring disclosure of compensation and revenue arising from the execution of the documents.If it was a loan, then there would be a lender who was a stakeholder i.e., someone who retained risk of loss and intent for the transaction to be performed and successful.Instead, homeowners got no lender and not even a clue as to who they did business with nor the true extent of revenue and profits generated from what was in reality, simply a securities scheme withno substantive characteristics of a loan.Instead, the homeowner was left with a nonlenderwho had no role in underwriting the viability of theloan contrary to the express requirements of TILA. In fact, and again contrary to the express requirements of TILA, the homeowner was left with nobody who had any stake in the viability or performance of any loan.
To add insult to injury, the securitization players had substantial financial incentives to steer borrowers into nonviable loans against which the players bet would fail this producing even more profits.
This scheme is well-known by the Government. From XX/XX/XXXX Federal Reserve ( aka Big Banks ) secretly move huge amounts of money though the back doors, without any oversight from the authorities or members of public - apparently to pay something to investors to keep this crime covered - while throw homeowners under the train of illegal foreclosures, as tax-free revenue for Big Banks.
Since XX/XX/XXXX Federal Reserve purportedly buy some non-existing MBS from Ginnie, XXXX and XXXX - which according to all Prospectuses GSEs NEVER HAD ( all about forward-looking statements we will or we shall but never WE DID PURCHASE ) ) Recently Federal Reserve assigned over {$2.00} XXXX of these non-existing MBS to one of its owners, XXXX XXXX. But no single homeowner never received any Notices about changes of purported ownership of anyones debt from GSE to Federal Reserve and from Federal Reserve to XXXX.
Which is evident that Big Banks crimes are covered by the Government who agreed to participate in exchange of release of all liabilities ( see HUD From XXXX. Whereas, ( Parent ) is the parent company of ( the Subsidiary ) ; andWhereas, the Subsidiary is applying to become an Issuer/is currently an Issuer in good standing of the of Government National Mortgage Association ( Ginnie Mae ) mortgage-backed securities ( MBS ) program ; andWhereas, the Subsidiary and/or Parent ______________________________________________ ; andWhereas, as a condition precedent to Ginnie Mae allowing the subsidiary to issue/continue to issue Ginnie MaeMBS, Ginnie Mae requires that the performance of the Subsidiary be unconditionally and absolutely guaranteed by Parent ( Corporate Guaranty ) Another evidence of Big Banks fraud with non-existing mortgage accounts and sales is a custodial Agreement between XXXX XXXX XXXX XXXX XXXX ( one of first Federal Reserve Board members ) ; XXXX XXXX ( whose owners XXXX and his son created Federal Reserve ) and XXXX XXXX ( fake Lender and sham conduit for XXXX ) GNMA XXXX are A fully-modified pass-through mortgage-backed certificate guaranteed by GNMA, evidenced by a book-entry credit made by a Securities Intermediary that is a participant of The XXXX XXXX XXXX.
The same scam apply to ALL purported Sales of mortgages which are always in look-forward statements, as well as so-called servicing.
Under the same agreement, the Participant ( XXXX ) has agreed to purchase, from time to time, at its sole election from the Seller ( XXXX ), participation certificates ( the Participation Certificates ) representing 100 % ownership interest in certain residential first mortgage loans.
The Custodian SHALL hold all documents constituting the Mortgage File received by it for the exclusive use and benefit of the Participant, and SHALL make disposition thereof only in accordance with the written instructions furnished by the Participant. The Custodian SHALL segregate and maintain continuous custody of all documents constituting the Mortgage File received by it in secure and fire-resistant facilities in accordance with customary standards for such custody and shall mark the file folders therefor to indicate that the Mortgage File is being held for the Participant.
The Seller ( XXXX ) WILL cause the Mortgage Loans evidenced by a Participation Certificate to back a Security ( as defined below ), which the Participant or its designee WILL receive in substitution for the related Participation Certificate The Seller ( XXXX ) WAS OBLIGATED to service the Mortgage Loans. But never did since nobody needed their services.
The same apply to XXXX XXXX XXXX ( now XXXX and PennyMac ). ALL their Prospectuses are based on forward-looking statements - we shall or we will but never we did.
XXXX XXXX or PennyMac or XXXX NEVER funded any loans and never owned any mortgages. It was a ruse created by XXXX Banks.
XXXX XXXX XXXX never bought any mortgages from XXXX - simply because XXXX never had any loans to sell to XXXX. What was done - DATA about mortgages was switches in XXXX XXXX/XXXX database from XXXX to XXXX, who was the ACTUAL party behind the scheme from the beginning - pass of one-time payment to borrowers via sham conduits XXXX XXXX.
When XXXX was renamed as PennyMac and XXXX, their part of this scheme didn't changed. Big Banks did not wanted to train a new group of people to commit the same blatant fraud against homeowners and investors ; and decided to use their reliable gang members XXXX XXXX, XXXX XXXX, XXXX XXXX, etc - to perform the same duties : pose as fake Servicers for nothing who purportedly collect mortgage payments for investors - which neither XXXX or PennyMac do because none 's debt was ever securitized or sold. INFORMATION about purported " debt '' was sold, but not the debt since it was not the debt to begin with. Bear to repeat, it as a compensation to borrowers to be dragged into secretive and very dangerous scheme where borrowers identities are sold as BETS to investors by Big Banks.
ALL my payments are collected and processed by XXXX/XXXX via XXXX XXXX account held by XXXX XXXX XXXX.
I demand CFPB to stop covering this Biggest Crime, investigate PennyMac, XXXX, XXXX XXXX XXXX and other banks for their Ponzi Scheme with Pension Funds and compensate me for all damages, no less than 20 % royalties from trades, remove all illegal liens ( such as fake Mortgage Lien from my property ; and pay me for damages caused by fraud and emotional distress, no less than {$50.00} XXXX.
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| 09/09/2017 |
Yes |
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- Trouble during payment process
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Web |
Servicemember |
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This is a summary of all the dates, phone calls, and notices I have received up to this point concerning PennyMac not informing the insurance company that they had bought my mortgage and not informing me of the lack of insurance for over a year untilXX/XX/XXXX I took out a mortgage through XXXX XXXX in XXXX XXXX. I had purchased a XXXX XXXX XXXX XXXX policy ( # XXXX ) for the house onXX/XX/XXXX for the year of XX/XX/XXXX XX/XX/XXXX through XXXX XXXX XXXX ( XXXX ) for {$290.00}. The paperwork stated that the mortgage company would pay for my insurance and taxes through my escrow account.
XXXX XXXX XXXX sent me a letter datedXX/XX/XXXX with my policy and a cover letter that stated, Your premium is paid by your mortgage company. A detailed billing statement will be sent to your mortgage company 15 days prior to your payment due date.
I received 2 letters dated XX/XX/XXXX from PennyMac. One was a letter that was informing me that effectiveXX/XX/XXXX, PennyMac would be servicing my loan and how to make my payments of {$840.00}. The other letter was entitled Notification of Assignment, Sale, or Transfer of Your Mortgage Loan. This letter stated, Please note, this letter does not require any action to be taken on your part but is simply a courtesy notification of the assignment, sale or transfer of your mortgage loan.
OnXX/XX/XXXX, PennyMac sent a letter that stated a recent review of your loan indicates that we do not have current homeowners insurance policy information on record for your property. Please contact your agent and have them fax the policy to us.
On XX/XX/XXXX, I called PennyMac. They informed me that I had not had home owners insurance since XX/XX/XXXX
On XX/XX/XXXX I went into XXXX XXXX and spoke to XXXX. He stated that my policy was cancelled by XXXX XXXX on XXXX/XXXX/XXXX for non-payment. The renewal notice ( XXXX/XXXX/XXXX ) and cancellation notices ( XXXX/XXXX/XXXX & XXXX/XXXX/XXXX ) were sent to XXXX Mortgage. The notice dated XXXX/XXXX/XXXX was also sent to me but I did not receive it.
XXXX also was able to tell me that someone called on XXXX/XXXX/XXXX and requested my current declaration page. XXXX faxed it to them on XXXX/XXXX/XXXX. The declaration page clearly states that the policy was for the year XXXX and XXXX XXXX was listed as the Additional Interest. XXXX stated that XXXX XXXX and his agency were never notified that PennyMac had bought my loan in XXXX.
On XXXX/XXXX/XXXX, I purchased a policy with XXXX XXXX XXXX XXXX XXXX for XXXX XXXX XXXX XXXX ( XXXX ) for {$480.00} through XXXX XXXX.
On XXXX/XXXX/XXXX, someone from the insurance company came out and took pictures of the house.
On XXXX/XXXX/XXXX, I received a letter stating that I had an escrow shortage. I paid {$190.00} on the phone to PennyMac while speaking to their representative, XXXX. This allowed me to keep my monthly payments to go up only to {$860.00}.
On XXXX/XXXX/XXXX, I received a letter from PennyMac dated XXXX/XXXX/XXXX stating they had received my insurance information for XXXX, but we are unable to verify coverage from XXXX. If you fail to provide us with satisfactory proof of hazard insurance, we will buy insurance to cover XXXX/XXXX/XXXX - XXXX/XXXX/XXXX at your expense, which will be billed to your escrow account or added to your loan. The insurance we buy : o Will cost an estimated {$1100.00}, which may be more expensive than insurance you can buy yourself.
o May not provide as much coverage as an insurance policy you buy yourself.
On XXXX/XXXX/XXXX at XXXX, I called the PennyMac Insurance Department and spoke with XXXX. I explained the letter and asked why PennyMac never informed anyone that they had my mortgage. XXXX put me on hold, came back and said that I would have to pay it, I stated I would not since I could not have possibly known I did not have insurance, XXXX put me on hold again, came back on the phone and stated that she would have to investigate and her supervisor had told her that if PennyMac was found to be at fault I would not be held responsible. She stated that she would get back with me by the following Friday. I replied that I wanted an answer no later than Thursday.
On XXXX/XXXX/XXXX at XXXX, I received a call from XXXX. I did not answer because I thought it was spam. A voice mail was left from PennyMac. I called back at XXXX and was transferred to another person and again left a voice message.
On XXXX/XXXX/XXXX at XXXX, XXXX XXXX with PennyMaXXXX called me. She informed me that they had received a declaration page from XXXX stating I had insurance for XXXX on XXXX/XXXX/XXXX. She then also said that XXXX XXXX should have informed XXXX XXXX of the mortgage change. She said it was XXXX fault at XXXX XXXX so I would have to work it out with him and I would have to pay the {$1100.00}.
On XXXX/XXXX/XXXX at XXXX, I called XXXX at XXXX XXXX and asked if I could buy retroactive insurance for the year XXXX. He informed me that it was against the law to buy retroactive insurance. I also requested a copy of the declaration paper that was sent to someone on XXXX/XXXX/XXXX.
On XXXX/XXXX/XXXX at XXXX, I called PennyMac back to talk to XXXX XXXX. I was told she was away from her desk. They took a message that I wanted to have a phone call the next day with her while XXXX was on the phone with us.
On XXXX/XXXX/XXXX at XXXX, XXXX XXXX called and then got XXXX on a 3 way call with us. XXXX was able to tell us that the person who called on XXXX/XXXX/XXXX was with XXXX XXXX XXXX. Neither XXXX nor XXXX had a record of the name of the person who called. XXXX pointed out that it clearly stated on that declaration page the term year and that XXXX XXXX was the additional interest holder. XXXX stated that was not PennyMacs fault. It was my responsibility to inform my insurance agent of the mortgage change. XXXX asked if I could get a lower premium from them. XXXX stated that it was {$1100.00} because they use blind insurance companies who do not take pictures. I asked for her supervisors name and number. She provided XXXX XXXX at XXXX.
On XXXX/XXXX/XXXX & XXXX/XXXX/XXXX, I called XXXX XXXX and left messages asking for a return phone call. I never received a call from her.
On XXXX/XXXX/XXXX, I called XXXX XXXX to see if they could help me.
On XXXX/XXXX/XXXX, I received a phone call from XXXX XXXX with XXXX XXXX after sending an email reaching out to him. We called XXXX XXXX to see if they had a record of any cancellation notices. They showed XXXX/XXXX/XXXX & XXXX/XXXX/XXXX to XXXX XXXX.
On XXXX/XXXX/XXXX, XXXX XXXX and I called to talk to XXXX XXXX with PennyMac to try to find out when notices of cancellation had been sent to me in XXXX. XXXX XXXX was not available so we spoke to another representative. After 41 minutes of being put on hold while she read through the notes, she said they would have to call me back. I stated that school had started I could not be reached until XXXX because I am a teacher.
On XXXX/XXXX/XXXX, XXXX XXXX called me to see if PennyMac had returned my phone call. No, they had not.
On XXXX/XXXX/XXXX at XXXX, XXXX XXXX and I called PennyMac and spoke with XXXX XXXX. She stated that the notes had no record of the letter dated XXXX/XXXX/XXXX, that my payments were still {$860.00}, and everything was fine. I found this unbelievable and XXXX XXXX asked that PennyMac send me written documentation verifying this. XXXX stated that she would need to call him back the next day to confirm this. He was given verbal permission by me to be called during the day due to my hours and XXXX gave him a code.
On XXXX/XXXX/XXXX, PennyMac called me at XXXX and XXXX but left no message. I returned their phone call at XXXX but was again told they would need to refer me to another person who was away from their desk.
On XXXX/XXXX/XXXX, I received an email at XXXX that read : Dear XXXX XXXX, We have made and INSURANCE PAYMENT on your behalf from your escrow account : To : XXXX XXXX XXXX Type : Home Insurance Premium Policy : XXXX On : XXXX/XXXX/XXXX Amount : {$1100.00} Sincerely, The XXXX Team I checked my escrow account and I had only {$77.00} left from {$1200.00} the previous day.
On XXXX/XXXX/XXXX at XXXX, XXXX XXXX and I again called PennyMac. We got XXXX XXXX as our representative. She told me that XXXX, the team leader, XXXX XXXX ext. XXXX ) had just called me and left me a voice mail with a resolution to my problem. I checked my phone and I did not have a missed call or a voice mail. We were told that XXXX was on another call and we were put on hold. We were on hold for 1 hour 25 minutes with Charity. She would come on the line and ask if we would like to be called back or leave a voice mail. We declined due to the number of different people we had talked to previously. At one point, XXXX came on the line and told us we would have to hang up because they were receiving an unusual number of phone calls and we were tying up their line. Again, we declined to hang up. Finally, XXXX XXXX had to get off the phone to go to another job. I called XXXX at XXXX and left a voice message but never received a call back.
On XXXX/XXXX/XXXX at XXXX, my husband called PennyMacs corporate headquarters. After being passed off to 2 different people, a 3rd person asked to speak with me. I asked her name and it was XXXX XXXX. I declined to talk to her again and XXXX was still unavailable.
On XXXX/XXXX/XXXX at XXXX, XXXX XXXX and I called PennyMac to talk to a supervisor. We were informed there was no supervisor there that day and the team leader was away from their desk. During our 47 minutes of being on hold and talking, XXXX XXXX asked if we could just have the dates of the notices of when I had been informed of having no insurance. She gave the notice dates of XXXX/XXXX/XXXX, XXXX/XXXX/XXXX, and XXXX/XXXX/XXXX. Then on XXXX/XXXX/XXXX, she stated enforced hazard insurance had been put in place from my escrow account in the amount of {$1100.00}.
XXXX XXXX restated the dates to me after PennyMac hung up and told me to call the Better Business Bureau, Utahs Attorney General, and the Consumer Financial Protection Bureau to get someone to intervene on my behalf.
On XXXX/XXXX/XXXX at XXXX, I called XXXX XXXX XXXX ( XXXX ) to see if PennyMac had purchased a policy for me and to get a declaration page. I was told to call XXXX XXXX.
On XXXX/XXXX/XXXX, I filed a complaint with the BBB.
On XXXX/XXXX/XXXX at XXXX, I called XXXX XXXX ( XXXX ). I spoke to a representative who could only find my current policy on file. He wanted to be sure so he transferred my call to XXXX. XXXX verified my current policy but could find no record of PennyMac purchasing a policy for the year XXXX. She suggested I call my insurance agent.
On XXXX/XXXX/XXXX at XXXX, I called XXXX at XXXX XXXX. He told me he could not find a record of a policy but that it would not show up since PennyMac would have used another insurance agency. I told him that the email said they had used the same insurance company and the same policy number as I had purchased from him on XXXX/XXXX/XXXX.
On XXXX/XXXX/XXXX, I received an email from the BBB with a response from PennyMac that stated : Upon receipt of the BBB notification, our office is in the process of completing a thorough review of XXXX XXXX loan to ensure that her concerns are addressed. PennyMacs representative will send a written response in regards to researching his concerns as the issue is currently being researched and will be resolved.
On XXXX/XXXX/XXXX, I rejected this response due to the fact that I had not been able to find any proof from the insurance company that PennyMac had purchased insurance for me.
On XXXX/XXXX/XXXX, I called the Utah Attorney General office at XXXX and left a message.
On XXXX/XXXX/XXXX at XXXX, XXXX XXXX from PennyMacs complaint office called me. We spoke for 27 minutes. He assured me that he would research the escalated issue after he returned to work on Monday, XXXX/XXXX/XXXX because he was out of the office Thursday and Friday. He stated that is was escalated because my taxes are due in XXXX and I have already made my XXXX payment leaving {$220.00} in escrow. He stated that he would call me around XXXX on Tuesday with some kind of information about my case. He gave his number XXXX XXXX XXXX ) and an email ( XXXXXXXXXXXX ).
On XXXX/XXXX/XXXX at XXXX, I received a call and voice message from XXXX with the Attorney Generals office. I returned the call at XXXX and spoke to XXXX about what information I needed to include.
On XXXX/XXXX/XXXX at XXXX, I received another email from the BBB with the exact same response from PennyMac as the email from XXXX/XXXX/XXXX. I rejected this response because I do not have a resolution in writing from PennyMac.
XXXX/XXXX/XXXX I received a monthly statement dated XXXX/XXXX/XXXX due on XXXX/XXXX/XXXX which I paid on XXXX/XXXX/XXXX through my bank and PennyMac sent me an email stating the payment had been received. Today, I received another monthly statement dated XXXX/XXXX/XXXX due on XXXX/XXXX/XXXX for {$860.00}. I went to their website on loan activity and it clearly states that my next payment is due on XXXX/XXXX/XXXX for {$860.00}.
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| 08/22/2022 |
Yes |
- Debt collection
- I do not know
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- Took or threatened to take negative or legal action
- Seized or attempted to seize your property
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Web |
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Demand for Updated Payoff Statement, updated " Notices of Default '' ; verification of account ; and Complaint against XXXX XXXX XXXX ( XXXX ), XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX PennyMac Loan Servicing, LLC ( PennyMac ).
I DEMAND THE NAMES AND CONTACT INFORMATION FOR EVERY INDIVIDUAL EMPLOYEE WHO PREPARED THIS PAYOFF STATEMENT AND WHO WILL RECEIVE AND PROCESS MY MONEY.
I also demand UPDATED Payoff Statement, prepared and signed by an authorized employee of my current Creditor with a written verification from my current Creditors [ if any ] authorized employee to prove its ownership of account with XXXX XXXX XXXX XXXX where I am instructed to wire my {$140000.00} ; and UPDATED Notice of Demand signed by a responsible employee of my alleged Creditor.
On XX/XX/XXXX I submitted my demand for total payoff statement since I found an alternative financing option with a real private Creditor.
My new Creditor wants additional guarantees what her and my money will be received by my current lawful Creditor and deposited on the account owned by this Creditor and administered by its real authorized employees ; and not stolen by undisclosed to me parties via complex money laundering scheme operated by Investment Banks, including XXXX XXXX.
On XX/XX/XXXX I received an unsigned Payoff Statement which came from XXXX, XXXX ( as usual ).
This Payoff lacks ANY references to my Creditor ; is not signed by ANY representative of my alleged Creditor ( despite my strong demand ) ; and only has a line that the Servicer is purportedly PennyMac.
I dont know why XXXX XXXX XXXX XXXX terrorizing me with various unsigned demands on PennyMacs letterheads, but I never refused to pay my lawful Creditor if I have any.
Now XXXX agents have threatened foreclosure and sale of my property despite the facts that I am not in default, the alleged owner XXXX XXXX deny any knowledge about my transaction from the beginning ; and trustee XXXX is ignorant of any facts to state affirmatively that I am in or not in default.
To the contrary, this alleged lender is in default of its obligations under applicable Federal and State laws specially since the alleged lender at the closing and the alleged servicing agent are not the real parties in interest.
In support of this unsigned Payoff Demand XXXX, XXXX ( the real Servicer for unknown to me parties ) attached several unsigned Notices of Default prepared and sent to me by XXXX XXXX XXXX, XXXX and XXXX XXXX XXXX XXXX, who demanded from me $ XXXX + {$1000.00} + $ XXXX $ XXXX {$1700.00} = {$19000.00}, which XXXX and XXXX wanted me to send to XXXXXXXX XXXX XXXXXXXX XXXX XXXX XXXX their XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX
See attached official respond from XXXX to my Freedom of Information Act request evidencing who prepared and sent me these Notices.
It is unclear to me why XXXX XXXX and XXXX ( Servicers under CFPB rules ) declared me in Default ( only my current Creditor can do it ) and demand from me {$19000.00} to be sent to XXXX, but I never received any Demands from my alleged Creditor, neither for {$19000.00} or for the Total Amount claimed by Servicer XXXX XXXX XXXX on XX/XX/XXXX.
I will gladly pay {$19000.00}, however, this Demand must be sent to me by my current Creditor [ if any ] and signed by its authorized XXXX whom I can contact directly. Demands from XXXX and XXXX are legally void and are a classic example of mail fraud and racket.
XXXX XXXX XXXX is the real Servicer ( under CFPB Rules ) for unknown to me parties who send me faceless correspondence, phony billing statements ; void Notices of Default ; fraudulent Modification ; fake VA XXXX XXXX and most recently a bogus Payoff Statement where I was directed to wire {$140000.00} to XXXX XXXX XXXX who suddenly and unexplainably appeared as a recipient of my money for unknown to me creditor ; Another option was to send my money to XXXX XXXX XXXX XXXX XXXX ( whatever it means ) or to XXXX XXXX XXXX XXXX XXXX
In short, to anyone except PennyMac or my alleged creditor.
During all time in question the alleged banking institution was XXXX XXXX XXXX where XXXX XXXX deposited my money collected by alleged servicers XXXX XXXX XXXX XXXX XXXX and PennyMac, although PennyMac never even appeared on my processed by XXXX checks.
XXXX XXXX XXXX is the current Defendant in my Federal Complaint XXXX, XXXX XXXX XXXX of XXXX XXXX CFPB XXXX SEC, FTC, FDIC et al, so I suspect they decided to drop from this scam ; and pass role of banking institution to XXXX XXXX XXXX, who was involved in this crime from the beginning, starting in XXXX as alleged Lender for my property Seller XXXX.
According to XXXX, in XXXX they purportedly received enough money on my behalf from unknown to me parties, to satisfy XXXX {$200000.00} mortgage with my {$130000.00} alleged loan, sometime in XX/XX/XXXX while my closing was on XX/XX/XXXX. This absurd letter was sent to me by unidentified XXXX XXXX customer support team. XXXX never provided to me any verification that they received any wire transfers on my behalf from XXXX XXXX XXXX XXXX XXXX XXXX or anyone else.
Now XXXX XXXX wants me to wire them {$140.00}, XXXX, for unknown to me parties, while XXXX XXXX can not find {$130000.00} they purportedly received on my behalf from pretender XXXX XXXX XXXX XXXX XXXX in XXXX.
Who can guarantee that my {$140.00}, XXXX will not disappear like {$130000.00} alleged loan on my behalf for which XXXX XXXX has no records?
I once again demand XXXX XXXX XXXX to provide me a copy of receipt for the wire transfer for my {$130000.00} they received sometime in XX/XX/XXXX, before I send them anything else.
Since XXXX XXXX suffers from severe episodes of amnesia about their accounting receivables, XXXX must prove to me ownership of the account # XXXX since all my prior payments were always collected and processed by XXXX XXXX branches XXXX and XXXX into XXXX XXXX XXXX account which lacked any references to PennyMac who never received a cent from me.
I demand XXXX XXXX XXXX employee to VERIFY for me, in writing, that this account was opened by PennyMac authorized employee and currently belongs and administered by PennyMac and its responsible employees. This is not private information ; since this information is necessary to complete my transfer of very significant for me funds.
PennyMac also must provide me wet-ink signed written verification of ownership of this account, from its authorized employee who confirm that Account # XXXX located at XXXX XXXX Florida XXXX XXXX when it was opened ; and confirm in writing by an authorized employee of my creditor and an authorized employee of PennyMac that this account is currently owned and/or administered by PennyMac, along with a copy of cancelled check from this account and a copy of accounting ledger signed by PennyMacs authorized officer as a proof of ownership.
Moreover, the XXXX number # XXXX, according to public records, belongs to at least XXXX other banks : XXXX XXXX XXXX XXXX XXXX ), XXXXXXXX XXXX XXXX XXXXnd XXXX XXXX XXXX.
Which creates a reasonable confusion regarding ownership of the account receivable where my wire transfer will be deposited and by whom - since the payoff does not contain any names of any individual employee who is responsible for preparation of this Payoff Statement and for receipt and deposit of my money. Thus, verification of ownership of this account must be provided to me by my alleged current creditor and its responsible individual employee, before I make any payments to this account.
These disclosures are mandatory since I do not know who receives my money which are processed by unknown to me employees like XXXX XXXX, via someones XXXX XXXX XXXX XXXX XXXX ] secured website to a shady credit union in California, without crediting any money to my principal or to my escrow.
In my XX/XX/XXXX Demand, I stressed out that this Payoff Statement must be signed by an individual Officer who is authorized by my CURRENT CREDITOR ; who is personally responsible to collection of my money and who will deposit of my payments on the account receivable of the alleged owner ( if any ) of my alleged debt if any.
I also demanded a copy of the accounting ledger for my alleged loan signed by an authorized officer who is responsible for its administration.
I also demanded a personal meeting with this authorized by my creditor Officer whom I can personally deliver my funds via certified check, who can provide me a receipt for my payment and who will deposit it on alleged ledger of my alleged creditor, with a copy of this ledger provided to me.
None of it was provided to me, despite my demands.
The Payoff Statement must be updated and include the full name of my alleged Creditor who currently owns my alleged loan, with its contact information. For example : Creditor : [ corporate name, name of a responsible employee who prepared or who authorized this Statement, address, direct phone number, email, fax ] ; Servicer : [ corporate name, name of authorized employee who prepared this statement, address, direct phone number, email, fax ] I demand updated Notices of Demand, and alleged default from my Current Creditor [ if any ] signed by a natural person who is authorized by my current Creditor to declare me in Default, with his/her contact information, so I can discuss my questions with this person about accounting issues if any and my payment under these updated Notices.
Bear to repeat, Notices of Default from XXXX and XXXX are legal nullity.
Thus, verification of ownership of this account must be provided to me by my alleged current creditor and its responsible individual employee, before I make any payments to this account.
I reserve my right to make a test wire transfer into this account, and PennyMacs responsible employee must confirm in writing that he/she received my money, before I make any significant deposit on this questionable account.
If the ownership of this account will not be verified [ must state valid reasons why it was not verified ], PennyMac and its responsible officer must provide me time and place where I can personally deliver my payment in certified funds ; and the name of responsible employee who is authorized by my creditor to receive my payment.
XXXX dba PennyMac gave me their office address at XXXX XXXX XXXX XXXX CA with attention to XXXX XXXX. XXXX can not manage itself without individual employees who are authorized to collect my payments and deposit on my current creditors account receivable which, according to information from the Payoff statement is now located with XXXX XXXX.
Please provide me updated Payoff Statement with the name of authorized employee to whom I can personally deliver my cashiers check, who will deposit it on my alleged loan account receivable and provide me acknowledgement or a receipt for my check signed by this authorized employee. I also demand a copy of the accounting ledger for my alleged loan, signed by the accountant or bookkeeper of my alleged Creditor.
Also, it is unclear where my impound account ( whatever it means ) - from which XXXX XXXX XXXX XXXX made property tax payments and Servicer Third Party Payment Services provider paid for home insurance - is located and by whom it is owned. It this a separate account from my alleged account receivable?
This year I paid my taxes and my home insurance from my own account, and PennyMac is removed from my Home Insurance Policy and from my Credit Reports after they were not able to verify any relationship of PennyMac to my home or to any alleged servicing.
Worth to mention, my money are allegedly collected for benefit of XXXX XXXX, who is currently listed as Owner/Investor on XXXX XXXX ID website. Last assessed XX/XX/XXXX.
PennyMac must provide me a written confirmation from XXXX or its alleged XXXX XXXX XXXX XXXX XXXX responsible employee that XXXX XXXX changed its banking institution from Bank XXXX XXXX to XXXX XXXX XXXX and approved this Payoff Statement which is itself full of lies and omissions, specially about my impound account and PennyMacs disbursements which PennyMac never made.
I also demand a copy of my Promissory Note, with full chain of Assignments, starting from the origination ; and the location where my original Note is physically located for inspection.
Regards XXXX XXXX
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| 11/15/2020 |
Yes |
- Mortgage
- Conventional home mortgage
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Web |
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Entered forbearance program on ~XX/XX/2020 for an approved 3 months ( 90 days ). We explicitly stated at onset that if the only solution upon emergence from forbearance was going to increase my mortgage payments, I wasn't interested in using the program. I was ASSURED there would be other options.
After the first " forbearance '' approved payment statements were issued, we contacted Pennymac immediately. I had concerns regarding data on the statement ( s ) during the forbearance timeframe ( amounts stated past due, threatening letters, etc ). I repeatedly called proactively, and each time I was told " all is ok '', it's automatic, and once you emerge from the forbearance period, all will be corrected. This matter continued to grow in dollars they claimed owed - somehow they got to 4 months, when we only missed 3 payments - again, after multiple concerned calls to the department handling this process, I was ASSURED this would all be corrected.
At the end of XXXX, I called to state I didn't need the forbearance program anymore and requested a termination of forbearance, and application to resolve the missed payments, reminding them I am unable to make higher payments. It was like pulling teeth to get them to allow me to me to exit from the program. Finally I received documents ( application ) to complete that would provide my current status, from which they could determine what solution would fit. Immediately we were told that we were approved to add the missed payments on top of the current mortgage payments, as if they never heard me the first 3x I said that wasn't an option. In a period of 45 days, I received an additional 2 " approval '' documents saying that I was going to receive a deferment, moving all missed P & I into a non-interest bearing account separate from the mortgage. The first stating we had only missed 2 payments, which elicited yet another call to them, and a few weeks later stating 4 payments were being deferred and to continue to make our payments. We had already resumed payments in XX/XX/XXXX yet called again to try and correct the timelines and # of missed payments.
With each call, I was essentially told that this process finalization is taking around 60 days due to the high demand from distressed COVID borrowers. As time went on, into XXXX, I saw the timeline for this process, as shown on their website stuck at " final stages '', yet we continued to get threatening notes, statements showing I was 4+ months past due, etc. At this point, I was making calls 2x-4x/month to proactively resolve this issue.
Meanwhile, and unbeknownst to me, a job situation necessitated a relocation. I put my house on the market and notified Pennymac what had happened, requesting info on how this would impact the deferral. We were told multiple times it would not have any impact, but it did present some additional difficulty regarding numbers, etc., which I understood.
By the beginning of XXXX, the website status changed to completed, yet we had not receive formal written notice from Pennymac about process going forward. Multiple calls to customer service ( the XXXX team ) confirmed that we had been approved and they were in the process of correcting the balance sheets to reflect their contracted obligation to move the CORRECT amount into the deferral account.
During this time, the house had been placed on the market - XXXX and sold within 14 days with a 45 day close. Title and escrow began requesting the appropriate documents from all parties : the initial payoff demand, fees, taxes, title, escrow amounts, expected payments from escrow during the contract period. Title immediately noticed that something was wrong when the first payoff demand was received with past due interest, and then the final demand included 157 days of past due interest, representing XXXX - XXXX. Please understand that the loan was in service from XX/XX/XXXX to XX/XX/XXXX - a period of 12 months and 6 days ( not 4 months ) wherein I made 9 payments in full with an additional $ XXXX/payment. The extra 6 days in Pennymac 's calculation of {$41.00} of interest per day XXXX the period from XXXX - XXXX ) amounted to ~ {$170.00} in the overall transaction.
Title wired the EXACT amount requested on the payment demand, still confused by large changes between the initial and final payoff demand letters that didn't reconcile with the time between the initial demand request and the final demand. Yet, this was a matter left for post close reconciliation. Again, title paid the final demand in full, wired the money and confirmed receipt on XX/XX/XXXX ( a full day before the payoff expired ).
On XXXX, title received a very strange call from Pennymac demanding an additional ~ {$1200.00} because they had supposedly made a property tax payment on XX/XX/XXXX. Title immediately stated that this was completely irregular because the tax payment should have been calculated into the final payoff demand which expired on XXXX, because the final payoff was requested prior to the payment XXXX yet 6 days after the payment had been made ). On my account activity page, it actually showed the tax payment was made on XX/XX/XXXX - 17 days earlier.
Somewhere shortly thereafter, Pennymac again called title demanding another 4 days of interest because the loan wasn't actually paid in full until XXXX when they received the supposed " escrow shortfall '' or the additional ~ {$1200.00}. Remember, daily interest on the FULL outstanding principle was $ XXXX/day. Pennymac demanded the FULL amount of daily interest, as if they had not received any prior wire from title essentially paying off the principal and the fraudulently calculated 157 days in past due interest.
As I understand it, escrow accounts are separate from the P & I on the mortgage - escrow accounts don't receive interest nor are they charged interest. So title argued with them, and refused to spend more time with a PennyMac rep, again on a voice call versus a fax or written demand, who couldn't explain how this had all happened - so they paid the interest out of their own pocket so they could just move on.
Separately, I couldn't understand why the loan wasn't closed properly on XXXX and, again, called PennyMac where I received another series of lies, fabrications, excuses, etc., each contradicting the prior - but insisting their calculations were proper and correct. Each time I ended the call with, if you can't explain these transactions, the issues, etc., how do you know they are correct and defensible? Awkward silence each time, saying they would work to get me an explanation on their calculations, but that the calculations were correct. I was never ONCE told it was a title/escrow issue. I had to call title to ask why they made so many wires to Pennymac, and initially accusing them of error ( s ).
From the get go ( beginning of the forbearance program ) XXXX mad well over 70+ calls starting in XXXX - each handled by the SPOC XXXX the ones who handle forbearance programs and deferrals for distressed buyers ... These people are the ones who are supposed to be able to explain this stuff - the only difference from a year ago is that they had more volume due to COVID, but these processes were NOT new.
My final call to them on Friday ( XX/XX/XXXX ), a 3.5 hour long call, the XXXX SUPERVISOR stated very insistently that our Deferral had NEVER been approved and ALL prior reps were wrong, with apologies. Our response was - we have the deferment approval in writing, dated XXXX, a month after your website showed approved ( XXXX ). To which he stated that a VP had gotten involved and stated I wasn't really approved and all amounts were correct, essentially implying that the VP had stated this arbitrarily and with some amount of anger, and no explanation. This supervisor was also provided with multiple calculations showing that PennyMac was wrong, likely in violation of their contracts, and clearly in violation of multiple federal lending, consumer protections laws, and the CARES act ( suspicions confirmed by title ).
I actually see the deferral amount being entered into my transaction history around XX/XX/XXXX ( a full month after the deferral approval appeared on the PennyMac website, 7 days after our written confirmation that the deferral had been approved, yet a full 24 hours before Pennymac knew that we were actually closing the loan based on the expiration of the final payoff demand ). The same amount was then backed out of our account some 2 weeks later!!!!! Interestingly enough, the written approval still showed FOUR MISSED PAYMENTS.
Well, a ) it was never 4 months, and b ) they never actually processed our XXXX payment received by them on XX/XX/XXXX, in the amount of {$2500.00}.
XXXX has now been supplied with payment history directly from our bank showing the 9 payments sent and received. Title confirms the loan only existed for 12 months and a 6 day period after the XXXX month - the latter six day amounts to about {$250.00} in interest ( XXXX payment would have been due XXXX, but late on XX/XX/XXXX ).
After 70+ calls, proactively and then reactively, you'd think someone could explain this. Even the final supervisor we spoke with admitted that it shouldn't be this hard to reconcile but claimed that HE had more information that I was being shown on their own website 's transaction history. He also stopped short of making any direct comment that something was wrong ... A prior supervisor had already looked at this, weeks before, and stated something was clearly wrong, but couldn't determine what it was ....
In the end, I've provided Pennymac with calculation after calculation proving that even with the small amount of information they claim we have, that their principle payoff demands were incorrect, there's no explanation on how/why we were ever considered past due during an official forbearance program, and why, upon emergency, did 3 months of interest on the forbearance protected payments ( approx. {$3600.00} ) become $ XXXX dollars and 5+ months. The final supervisor stated it was because starting in XXXX, we hadn't been current : meaning my XXXX Payment applied to XXXX, the XXXX payment applied to XXXX, and the XXXX payment applied to XXXX. Still, showing the maximum amount we were EVER past due was 90 days, and still contractually protected from being considered late under the approved forbearance and the latter approved deferral.
The outstanding principal shown on Pennymac 's website 100 % reconciled with the correct outstanding principal amount throughout the loan, until XX/XX/XXXX - when it became clear the XX/XX/XXXX payment was never applied.
Title is now involved and will likely get involved with any civil or criminal lawsuits against Pennymac. Title clearly stated that the way this appears, and the lack of knowledge on the part of the department who is supposed to be responsible for this 24/7, proves we are NOT an isolated incident.
In reading over other pending litigation, including 2 class action suits, etc., against PennyMac this behavior does appear systemic but with slight nuances. All of these lawsuits seem to imply that PennyMac 's goal was to find a way to foreclose, any way they could - even successfully, in some cases - destroying people 's credit, lives, etc.
Pennymac has a banner on their website I paraphrase as " We're here to help. '' That's just another lie. They claim they are researching things, but clearly not doing a thing - just appeasing us with people who say untruthful things, implying the fault is on the borrower in a nice way, like that would make any intelligent person just go away.
How many people have been a victim to this, especially during COVID, without even realizing it and being convinced by narratives that contradict themselves to try and get them to go away .... shameful.
Please also remember - Pennymac, as is stated at the beginning of every call, both when the XXXX answers as well as when the reps finally pick up, that they record all calls. As far as I can tell, multiple lawsuits against Pennymac show that these documents were subpoenaed and proven to show Pennymac 's fraud, deceit and attempts to cover up this behavior.
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| 06/05/2020 |
Yes |
- Debt collection
- Mortgage debt
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- Attempts to collect debt not owed
- Debt was result of identity theft
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Web |
Servicemember |
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Dear CFPB ( cc Senate, AG, media ) Please find my complaint against PennyMac Loan Services , LLC for theft, including identity theft, fraud, illegal collection, racket, conspiracy to defraud, false claims, and other crimes.
On XX/XX/XXXX PennyMac approached me falsely claiming to be a " buyer/investor '' in my loan as well as a Servicer for some mysterious XXXX XXXX XXXX.
On XX/XX/XXXX PennyMac XXXX XXXX sold to investors over {$190.00} XXXX worth of securities CERTIFICATES which I have reason to believe were backed by my stolen identity after PennyMac robbed XXXX XXXX ( former XXXX XXXX XXXX/XXXX ) whose system Big Banks use to assign passwords to their sham conduits like XXXX XXXX XXXX and PennyMac. Anyone who knows about foreclosure litigation and securitization of residential debt knows that the only way the banks could succeed is if they had a central repository and central command center from which all documents were fabricated and all instructions were issued.
For nearly all loans the central command was XXXX XXXX XXXX, aided by XXXX. While XXXX is technically defunct and XXXX XXXX went to XXXX taking one for the team, the functions of XXXX remained the same.
XXXX changed its name to XXXX XXXX. XXXX at XXXX XXXX include data processing on virtually all residential loans subject to claims of securitization many of which are represented by data on the MERS Platform which is a workaround to hide separate split transfers of the debt, the note and the mortgage or deed of trust.
The systems on XXXX/XXXX XXXX are designed for the the express purpose of presenting consistent data in foreclosure claims. As such it also enables the rotation of apparent servicers, none of whom perform bookkeeping functions even if some of them interact with borrowers as if they were actually the servicers.
The rotation of servicers comes with the false representation and illusion of boarding in which the process is falsely represented as meaning that the new servicer inspected, audited, reviewed and input the data into their own system. None of that occurred. Instead the new servicer merely gained access to the same XXXX XXXX as the last servicer with a new login and password.
All evidence shows that the functions for fabricated, forging and robosigning documents continue to be performed under the direction of XXXX/XXXX XXXX which receives all instructions from various investment banks who have each started their own securitization scheme masking apparent trades in the secondary market for loans and trades in the shadow banking market where private contracts are regularly traded without any securities regulation.
PennyMac decided to create its own system, similar to XXXX XXXX, and STOLE their data to use it for its own unjust enrichment purposes.
It is evident that information about my loan was obtained by PennyMac in illegal manner while they can not even respond to the very basic question - who SOLD PennyMac my loan.
Because nobody sold it. Bear to repeat, PennyMac and its co-conspirators, XXXX XXXX XXXX, used its access to XXXX XXXX data to STEAL information about certain loans, falsely claim them as Defaulted Loans, so PennyMac can resell this information to its own investors without paying fees to XXXX XXXX.
Based on the law suit filed by XXXX XXXX against PennyMac in XX/XX/XXXX, XXXX XXXX XXXX XXXX delivers a central, comprehensive platform for mortgage and home-equity loans. It automates multiple areas of loan servicing from loan onboarding to disposition, including setup and maintenance, customer service, cashiering, escrow administration, investor accounting, and default management.
In other words, ALL money-related activities such as collection of payments, escrow administration, Notices of Default- are handled by XXXX XXXX who uses self-proclaimed servicers identity to defraud borrowers like myself.
It is evident from most recent correspondence where my Escrow Review and Approval for Forbearance were mailed to me from XXXX XXXX Florida, zip code XXXX, where XXXX has no offices, while the address on the envelope indicates that they were mailed from PennyMac office in XXXX XXXX CA to create a false impression that the review and approval came from PennyMac, not XXXX XXXX according to the case, serves large banks who issue securities.
The case further stated that PennyMac is one of many mortgage servicers to which XXXX XXXX has granted a limited right to access and use the XXXX XXXX for processing mortgage transactions, in exchange for and subject to the payment of contractual fees and compliance with other contractual obligations.
Which contradicts with PennyMac 's claim regarding their " ownership '' of my loan ; and " purchase '' of my loan from some mysterious Seller. PennyMac merely received FEES for posing as a " Servicer '' - while PennyMac decided to enrich themselves further by stealing borrowers data from XXXX XXXX to enrich themselves.
PennyMac must keep all informtion regarding XXXX XXXX involvement secretive from the borrowers, which is a violation of TILA and RESPA law ; while the main function of BK is to defraud borrowers whose Titles are fatally damages via series of illegal transfers to impersonatos like PennyMac.
According to XXXX XXXX, It is essential to XXXX XXXX that this system and the technology that drives it be kept confidential by XXXX XXXX customers, such as PennyMac.
Because the following specific aspects of the XXXX XXXX contribute to its unique value : data schema and fields ; user experiences and interfaces ; files and records ; transaction-type codes and sequence codes ; input, processing and output transactions ; workstation guides ; technical support services ; and documentation of the foregoing. Data collected are organized in specific files incorporated in a table that includes multiple records, each of which is a row that also includes a series of fields or cells, each of which has a specific name and position range. The confidential logic and business rules that drive the collection and manipulation of the data provide XXXX XXXX a competitive advantage.
In other words, based on XXXX XXXX system, borrowers DATA can be manipulated by different companies, which was apparently used by XXXX and PennyMac - to pass my information to PennyMac and their own scheme to defraud borrowers and investors.
Another confidential and valuable component of the XXXX XXXX is the XXXX XXXX XXXX ( XXXX ). XXXX uses confidential and proprietary logic that translates data from an origination system into transactional dataincluding tax, insurance and payment recordsthat allow loans to be loaded into the XXXX XXXX. Unlike the XXXX XXXX generally, XXXX is provided to customers in executable code, but with the same restrictions on use that apply to other aspects of the XXXX XXXX.
Which makes absolutely clear that PennyMac only has an access to my data and payment records - with limited use of the information and systemit to perform their job functions, by using unique user names and passwords to access the XXXX XXXX and related documentation.without ANY other capacity such as " owner/issuer/buyer '', ect.
This lies are created by PennyMac employee XXXX who is TRAINED to defraud homeowners, as stated in the case ( PennyMac shall conduct employee training to protect the confidentiality of the information ).
According to XXXX XXXX, The parties relationship began in early XXXX, when PennyMac and XXXX XXXX predecessor-in-interest, XXXX XXXX XXXX , XXXX ( XXXX ), entered into the Master Agreement by which PennyMac was granted a limited right to access and use the XXXX XXXX to process mortgage loans.
Worth to emphasize - LIMITED RIGHT TO ACCESS.
Which is inconsistent with PennyMac 's claim regarding its " ownership '' According to XXXX XXXX, Shortly after the Master Agreement was executed, PennyMac was given access to the XXXX XXXX and related confidential documentation, which at all relevant times was hosted and maintained by XXXX XXXX and its software developers within either Florida or Virginia.
The Master Agreement granted PennyMac a limited right to access and use the XXXX XXXX for specific uses and purposes related to the processing of mortgage transactions by PennyMac, in exchange for payment of access fees.
Unbeknownst to XXXX XXXX, however, PennyMac began to develop, through its access to the XXXX XXXX and related support services, its own modules that are intended to mimic the XXXX XXXX. These modules were specifically designed to mirror the architecture, data structure, and functioning of the XXXX XXXX and, as XXXX XXXX believes, were run in parallel with the XXXX XXXX so that it could be used, not for the limited purposes permitted by contract, but instead as a benchmark against which to test and fine-tune the results produced by the facsimile modules, with the goal of eventually replacing the corresponding modules of the XXXX XXXX.
It is very evident why nobody claims to be a " Seller '' of my loan to PennyMac.
According to the case, PennyMac concealed its intentions and efforts from XXXX XXXX, regulators, government-sponsored enterprises, and other third-party providers.
This is why XXXX XXXX has no information regarding PennyMac role as an " Issuer ''.
PennyMacs parallel development was carefully planned to incrementally incorporate XXXX functionality into PennyMacs imitation system, in order to avoid detection. From the XXXX XXXX confidential material to which it had been given access, including the XXXX application, PennyMac was able to extract highly useful information about the functionality and structure of the XXXX XXXX. Incredibly, it is now apparent that it did this in part through third parties who were not authorized to access the system but who were improperly provided credentials by PennyMac. It gleaned additional information by sending queries to XXXX XXXX customer support system.
In other words, PennyMac uses sytemic thievery to defraud homeowners whom they send bogus demands for payment uner glimpse to be " owner '' of the debt ; but also co-conspirators like XXXX XXXX whose system is used by Big Banks to defraud homeowners with illegal collections and foreclosures.
As XXXX XXXX stated, data from multiple months in XXXX and XXXX indicate that PennyMac processed tens of millions of different transactions using the XXXX XXXX for fewer than two million loans. This ratio of more than one transaction per loan per day over an entire month dwarfs the typical number of transactions processed in the normal course of business for a similarly situated mortgage-loan servicer. Even during its final months on the XXXX XXXX, PennyMac continued to run an unexpected pattern of cash transactions through the XXXX XXXX, reflecting testing of the XXXX XXXX results against those produced by its own system.
I once again demand PennyMac to provide me the name of the Seller of my loan ; proof of legit transfer, REFUND of all illegally connected payments ; treble damages for fraud ; treble damages for racket ; and punitive damages for extreme emotional distress, in the total amount no less than {$50.00} ( XXXX ) XXXX, to prevent others from similar conduct.
CC. XXXX XXXX, as co-conspirator REgards, XXXX XXXX
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| 10/24/2023 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
- Trying to communicate with the company to fix an issue while managing or servicing your loan
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Web |
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INTRODUCTION My wife and I are co-owners of a property in Washington DC, which is subject to a mortgage that is managed by PennyMac Loan Services , LLC .
Since XX/XX/2023, when we first made the request, we have been seeking to have someone from Pennymac sign a one page document ( along with us as co-owners ) that is being required by the DC government as part of a permitting requirement for a home improvement project. This is a routine administrative requirement imposed by the District of Columbia so that we can complete our screened in porch project. Since XX/XX/2023, we have been directed through a confusing maze of dead ends trying to reach someone from Pennymacs offices who can assist us and sign the form. As of today ( XX/XX/2023 ), we are still waiting for a signature from Pennymac. We have explained that if the form is not signed and submitted to the DC government in the next few weeks, i.e., in XXXX, it will endanger our existing permitting for the project and we will have to re-draft and resubmit permits. As such, this is a critical matter. We are concerned about the loss of permitting, and as we move into colder months, we are concerned about the exposed insulation and exposed wiring in the unfinished porch area causing damage.
The amount of time that has passed and our numerous attempts to seek resolution demonstrate that we are not being treated fairly as an honest contracting party for what we consider to be a basic request for a signature from XXXX. The relief we are requesting is simply a signature on a form.
BACKGROUND We are in the process of a home renovation project including the addition of a new screened in porch connected to the rear exterior of the house. As part of the permitting process, the XXXX XXXX XXXX XXXX ( XXXX ) is requiring that we create a single updated Record Lot for recording with the XXXX government, where there is a pre-existing XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX Lot that conflicts with an earlier original Record Lot. XXXX is holding up the inspection and approval of our construction until this issue is addressed by submitting a subdivision plat application with the XXXX XXXX. The form requires the signatures of all owners and, if the property is subject to a mortgage, from an authorized representative of the mortgage company. This is unfortunately just an administrative requirement that DC is mandating to correct its records, and it is essentially holding our minor construction project XXXX as a result.
Since XXXX, we have been asking our mortgage company to sign the subdivision plat that we need to submit to the local city government in Washington DC. We have explained, over and over, to Pennymac reps, why this subdivision application will not subdivide or add or change any existing geometry to our property boundaries. Rather, we are just simply cleaning and creating a new record lot, which DC has required as a condition of a city inspection needed to complete construction on our screened-in porch. We have submitted with this Complaint, three PDFs documenting correspondence we have had with a XXXX XXXX XXXX of Pennymac ( and others ) along with our DC registered land surveyor, XXXX XXXX XXXX, who is serving as our agent and who will be submitting the paperwork for us with DC once we have Pennymacs signature on the form.
DESCRIPTION OF CONTACT ATTEMPTS On XX/XX/2023, we first attempted to contact Pennymac concerning this issue. We called the service number ( XXXX ) XXXX and were directed to an operator who we explained the issue to. The same day, we sent correspondence via Pennymacs secure messaging system online, providing the signature page. This amounted to sending two messages through Pennymacs messaging center, and calling for customer support twice. We were promised a call back on Thursday, XX/XX/XXXX, which we did not receive.
On XX/XX/2023, we received a XXXX XXXX package containing correspondence dated XX/XX/XXXX from XXXX XXXX XXXX in the XXXX XXXX Department which directed that we execute a XXXX XXXX Borrower Application for Partial Release or Easement. We immediately contacted XXXX XXXX at the phone number listed in the XXXX XXXX package, and explained that we were NOT seeking a release of any lien and we [ were ] not trying to subdivide our property [, ] as we recounted verbatim in a followup message that we sent through Pennymacs secure messaging system. On the same date, we emailed XXXX XXXX with the same clarification, and signature request.
On XX/XX/2023, with no response having been received from XXXX XXXX or Pennymac, we wrote to XXXX XXXX to followup. XXXX XXXX responded by directing our attention to the XXXX release package that she had sent us, disregarding the fact that we had told her that the lien form was not applicable. Later the same day, we responded to XXXX XXXX again, explaining that her XX/XX/XXXX letter was sent based on the misunderstanding that we were seeking a lien release, and that we were seeking to sell off a sub part of our property. Again, as we explained on the phone to XXXX XXXX, we are not seeking to do either of those things. The issue is that the dimensions of our tax lot and the underlying record lot do not agree. Therefore, XXXX is requiring a new record lot for the permitting process associated with our screened in porch construction. The paperwork that was sent by Pennymac on XX/XX/XXXX, clearly pertained to an entirely different issue.
On XX/XX/2023, XXXX XXXX wrote that she had reviewed [ our ] request with management and was advised to obtain clarification why a new survey needs to be signed, lines are moving therefore, we are either releasing or gaining property. That same day, XXXX XXXX responded to XXXX XXXX with a lengthy email, explaining in detail why this conclusion was incorrect.
On XX/XX/XXXX, almost XXXX weeks later, XXXX XXXX finally responded, but not with a signature. Instead, XXXX XXXX still appeared to be confused and under the misapprehension that we were seeking to change the boundaries of our property.
On XX/XX/XXXX, we held a TEAMS meetings with XXXX XXXX where XXXX XXXX explained the issue ( with documentary survey records and exhibits ) and explained why we were not changing any property boundary lines.
On XX/XX/2023, with no response having been received from Pennymac, XXXX XXXX wrote to XXXX XXXX seeking an update. That same day, XXXX XXXX wrote back explaining that Pennymac was referring the matter to a XXXX XXXX, and that [ XXXX ] omeone will be reaching out to you soon.
On XX/XX/2023, with no response having been received from Pennymac, XXXX XXXX again wrote to XXXX XXXX seeking an update.
On XX/XX/2023, XXXX XXXX responded that the file had to be referred to another department and that [ y ] ou should be hearing from the attorney assigned to the case soon.
On XX/XX/2023, with no response having been received from Pennymac, we contacted XXXX XXXX again. We explained that we were growing increasingly concerned that there appears to be no timeframe for a resolution of this matter, and we were confused by the reference to referring the matter to a " XXXX XXXX. '' We explained that more than two weeks had passed since XXXX XXXX advised us of that referral, and no one from Penny Mac had contacted us, or provided a substantive update. We stated that we would welcome the opportunity to speak with the attorney assigned to the case. '' We explained that the amount of time that had passed for what we consider to be a basic request suggested that we were not being treated fairly. We also explained that we are concerned, as we approach the winter months, that we have been unable to close in our screened in porch and are left with exposed insulation and electric that our substantial investment in improving our property will be damaged. We reiterated our request that she kindly provide the phone number and email of the assigned attorney.
On XX/XX/2023, we sent a request for a status update and attached a PDF record of our correspondence to Pennymac via their secure message service on-line.
On XX/XX/2023, having received no response from Pennymac to either of these communications, my wife and I attempted to find contact information for Pennymacs legal office, to which ostensibly XXXX XXXX had referred our issue. It is impossible, apparently by design, for an individual calling Pennymac to actually reach its legal office, as contact with this portion of the company is not offered as an option in their support number. In addition, none of the correspondence that Pennymac has ever sent us has included contact information for their legal office. In conducting online searches, we identified, and then contacted a XXXX XXXX XXXX, based on information designating him as a chief legal officer of Pennymac, and with contact information listed on the California XXXX XXXX website. When we contacted XXXX XXXX at the phone number listed on the California XXXX XXXX website, he hung up on us after we explained that we were Pennymac customers.
We then emailed XXXX XXXX at the Pennymac email address listed on the California XXXX XXXX website, explaining that multiple emails sent to XXXX XXXX at Pennymac had gone unanswered, as has an inquiry we had sent through the Pennymac secure message service. We asked that he provide us with the name and contact information for the assigned attorney from the Pennymac XXXX XXXX, or simply asked that he direct that individual to contact us.
Later that day, we were contacted XXXX XXXX of the XXXX XXXX XXXX XXXX XXXX, who explained that the matter had been referred to his office for review and advisement.
On XX/XX/2023, my wife and XXXX XXXX a TEAMS meetings with XXXX XXXX and another attorney from his firm where XXXX XXXX again explained the issue ( with documentary survey records and exhibits ) and explained why we were not changing any property boundary lines.
That same day, my wife sent correspondence documenting her account of the meeting writing to memorialize our conversation, for my own benefit, and for the benefit of my husband, who apparently was experiencing technical difficulties this morning, and could not hear our discussion. If this account is incorrect in any respect, please let me know. XXXX XXXX XXXX indicated that our current deed is consistent with the record lot change that DC is requiring. However, XXXX XXXX XXXX firmly refused to provide a timeframe for resolution of this matter. We explained that we are obviously very frustrated with our treatment by Pennymac, and are very much hoping that we can get things back on track, and that delay to resolving this matter past the end of the year will result in the loss of our permits, and possible damage to our property during the winter months.
Since then, we have had no response.
We are attaching three PDFs of correspondence documenting the contacts described above. We are also including an explanatory PDF exhibit prepared by XXXX XXXX entitled Exhibit for Subdivision Plat for XXXX XXXX XXXX XXXX XXXX, which was presented to XXXX XXXX. Finally, we attach the one-page document, titled notarized that we are requesting XXXX sign XXXX
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| 05/09/2020 |
Yes |
- Debt collection
- Mortgage debt
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- False statements or representation
- Impersonated attorney, law enforcement, or government official
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Web |
Servicemember |
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Complaint against XXXX XXXX XXXX ( XXXX ) and their sham conduits XXXX XXXX XXXX XXXX XXXX. ( XXXX ) and PennyMac Loan Services , LLC ( PennyMac ) ( formerly known as XXXX XXXX ) for massive fraud with XXXX XXXX securities ; impersonation and deceit ; identity theft ; common law fraud ; illegal default of a performing loan ; fraudulent collection in violation of RICO and FDCPA ; violation of RESPA and TILA Act ; unjust enrichment ; False Claims under CARES Act and other crimes.
I also request a forbearance from BOA racketeering activities as provided under CARES Act of XX/XX/XXXX ; a full disclosures how many financial products such as securities and/or derivatives backed by my personal data were issued by BOA, XXXX and PennyMac. Full disclosures how much BOA and their sham conduits made from trading my personal data labeled as mortgage backed securities ; royalties from ALL trades on any " security '' or " derivative '' backed by my identity ; and a CREDIT to my loan from ANY payments received by PennyMac from the trades and CARES bailout while PennyMac falsely claiming losses which PennyMac never suffered. I also request treble damages for fraud ; treble damages for racket and damages for severe emotional distress I experience dealing with BOA gang of criminal conglomerates who relentlessly deceive investors, and commit endless mortgage and foreclosure fraud. BOA, XXXX and PennyMac illegally foreclosed on tens of thousands of Americans through a mass perjury scheme and pushed worthless mortgages on pension funds and unions and continue to do it as of today.
So-called servicer PennyMac approached me on XX/XX/XXXX and informed that someone ( whom PennyMac can not identify ) purportedly SOLD them my performing XXXX XXXX loan ( which was not available for sale since XXXX XXXX does not sell performing loans ) and now PennyMac claims to be a creditor/an owner/investor/Issuer/Creditor and Servicer for XXXX XXXX XXXX which nobody can identify - all without any prove in support..
When I asked PennyMac to provide me a validation of my debt, the name of the Seller of my loan ; the name of XXXX XXXX XXXX PennyMac is purportedly servicing and a proof of value paid for my debt as required under Art 9 UCC, PennyMac was unable to respond and relentlessly lies to me repeatedly contradicting with its own statements and with other parties responses.
According to XXXX XXXX XXXX XXXX XXXX, the Issuer for securities backed by my loan ( in fact by my personal data ) was XXXX XXXX XXXX, XXXX ( formerly XXXX XXXX ) who never confirmed its role as an Issuer of any securities or as a Seller of my so-called loan to PennyMac. Because securities backed by my information were issued by XXXX who is now collecting my payments via PennyMac who threatens me with bogus foreclosure and violates every single law in this XXXX.
XXXX XXXX XXXX created a very profitable myth which they called securitization of mortgages which in fact is a securitization of borrowers personal data which XXXX sells to investors under glimpse of mortgage backed securities while collects revenue from multiply sources such as trades of fake " mortgage backed securities '' ; collects loan payments ; trades from derivatives and other hedge contracts ; and profits from sales of illegally foreclosed homes.
Moreover, it is clear that XXXX XXXX XXXX internally defaults performing loans ( which is supported by PennyMac statements who purchased my performing loan in XX/XX/XXXX ) to steal investors money under glimpse of repayment of Servicers advances which Servicers never made to any investors ; to get unjust profits and to evade taxes in enormous proportions by XXXX as purported recovery of the debt.
In fact, investors dont receive servicer advances. Nobody does. Servicer advances are actually just data computations of what part of the payments received by investors will be labelled servicer advances in the future.
Once they are labelled as servicer advances this creates two new opportunities to excuse BOAs theft from investors.
First, XXXX acting as Master Servicer withdraws money from a reserve fund consisting entirely of money advanced by the same investors who purchased certificates promising them regular payments from the investment bank purportedly " backed by mortgages ''. This is not some trust fund. It is merely an accounting entry that covers money stolen from investors.
The new announcement that the government is going to pay those servicer advances is a straight out gift to XXXX.
It is the XXXX XXXX XXXX who is getting the money not any servicer. What entries they are making on their own books of account is anyones guess. But I am sure of two things : the receipt of that money is revenue and that revenue will be labelled as something other than revenue so it wont be taxed.
Second, the XXXX forecloses on property acting through servicers who pretend to be representing a trust that doesnt exist or a trustee with no trustee powers over a debt that no longer exists on the books of any company or any investor - while PennyMac continues to lie about " servicing '' some mysterious XXXX XXXX XXXX which, bear to repeat, nobody can identify, including XXXX XXXX.
When the property is sold the amount labelled as servicer advances is deducted from the proceeds of the sale. So investors get nothing. Borrowers also get nothing.
With government paying the servicer advances the investment bank still gets to make that claim even though they never paid it. That is because they were never going to pay it anyway. Servicer advances are a ruse to take the money from foreclosure sales and keep it.
But by labelling it as a recovery of money, they pay no tax because they dont report it as revenue.
Meanwhile the homeowners like myself is kept in the dark about all of this - and must be kept in the dark otherwise BOA fraudulent scheme will not be able to exist.
The homeowner does not know from where money for their loans are coming from - and nobody is going to disclose it since it must be a secret. The homeowner does not know that the parties claiming to be creditors are getting paid by the government. The homeowner does not know that even his hypothetical obligation has been reduced on the receiving side. The homeowner does not know that the statement showing the payments and balance due is false. The homeowner does not know that the default letter is based upon a false claim of amounts due. And the homeowner does not know that the proceeds of the forced sale of his house will never be used to pay down his debt because there is no debt on the books of any company or person.
Because as soon as people like myself will learn how brazenly XXXX XXXX XXXX and their sham conduits defraud us during every step called " purchase of a home '', with indentity theft instead of loans, with fatally broken property Titles and with internally defaulted loans while borrowers never missed their payments because XXXX trades us like their cattle on the open market - this scam will collapse American housing and stock market which is undermined by XXXX fraud.
Of course XXXX XXXX XXXX doesnt want anyone in government or the public domain thinking about the simplest element of double entry bookkeeping, or generally accepted accounting principles ( XXXX ), or the Financial Accounting Standards Board ( XXXX ) or the Securities and Exchange Commission ( SEC ) for one very simple elemental reason : there is no company or person who is reporting to anyone that my obligation is an asset on their balance sheet either specifically or under any group heading or category. NONE. ZERO.
The simple reason why - XXXX XXXX eliminated the debts at the same time they created the appearance of the debts or shortly after creating them.
Without anyone owning or reporting my obligation as their own asset, there is no creditor by definition. Without a legit creditor ( as PennyMac call themselves without any proof ) there can be no enforcement of a my debt because nobody is entitled to the proceeds of enforcement. Since they didnt pay value for it as required under the law, UCC Art. 9, 203, they have suffered no loss from my nonpayment. Without loss there is no claim.
Bear to repeat, I many times demanded a full validation of my debt which PennyMac never provided, in violation of Fair Debt Collection practices Act while PennyMac ( read-XXXX XXXX XXXX ) continues to extort from me revenue for BOA while they must cease all collections until all information particularly the name of the Seller and the name of the Trust, which no one can provide me claiming it overly broad and proprietory Worth to mention, without my signature on the loan ( aka a document which allowed XXXX and others to steal my identity for their illegal trades ) here would be no securitization at all. Remove my signature and here would be no so-called securities ; no Trusts ; no Trustees ; no Mortgagees and no Servicers. Mr. XXXX XXXX would not collect his paycheck to lie and defraud me as much as he can ; as well as he defrauds others on the daily basis.
It is clear that XXXX and their sham conduits do not want me and other borrowers to be informed about the true nature of my transaction which is a flagrant violation of my rights as a customer and as a party of the Contract. Under the law, I have RIGHTS for full disclosures, for an informed consent ; for a CREDIT if the opposite party receives more than the amount I purportedly " owe ''. XXXX wants to keep it as a secret, so they can keep collecting my payments as a revenue after XXXX made about {$12.00} per {$1.00} from my loan ; stole money from investors under glimpse of " damages '' and " servicers advances '' from my internally defaulted loan ( which was likely the very same day as I signed my application on XX/XX/XXXX ) - plus they want money from Federal bailout - without crediting me a cent ; and without any royalties from trades.
No homeowner, consumer or borrower created this situation and there is no law supporting the scheme that XXXX XXXX calls securitization because securitization has always meant and still means the sale of an asset, split into pieces. If nobody is claiming to be the creditor and can not prove its role as a creditor by PAYING VALUE FOR THE DEBT, under UCC, which is a Federal Law ; there is no securitization. It is a myth to create enormous profits for XXXX and their sham conduits ; falsely obtain gifts ( bailouts ) under glimpse of damages caused by borrowers non-payments ; collect loan payments as a revenue, on top of trade profits from borrowers identities ; and illegal foreclosures based on forged documents which also go as a revenue to XXXX.
Since I am a victim of XXXX XXXX XXXX who created this Biggest crime in the World history ; I have no other option to request forbearance and full and HONEST investigation from CFPB.
Best regards, XXXX XXXX, victim of XXXX XXXX XXXX illegal securitization of borrowers identities.
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| 04/01/2021 |
Yes |
- Debt collection
- Mortgage debt
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- Attempts to collect debt not owed
- Debt was result of identity theft
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Web |
Servicemember |
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Dear CFPB, Request to extend forbearance on returns of my commission to XXXX XXXX XXXX until XX/XX/XXXX, under President Biden order of extension of returns of commissions masqueraded as home loans to XXXX XXXX Stockbrokers, for additional 180 days.
I have to submit this request via CFPB office since I do nopt have anyone who can lawfully administer my non-existing " loan account receivable ''. PennyMac lies non-stop but can not provide even a shred of evidence of its legit involvement.
Please also find a Complaint against PennyMac Loan Servicing LLC, a fictitious servicer of non-existing loan account ; XXXX XXXX XXXX, an investment bank who operates securitization scheme when I act as Investor/Guarantor, without my knowledge and consent ; and XXXX XXXX , XXXX owned by XXXX XXXX XXXX XXXX XXXX XXXX XXXX, who extorts from me my commission paid to me by XXXX XXXX XXXX for my cooperation with their securities scheme via fictitious parties who posed as XXXX XXXX Mortgage and originator XXXX XXXX XXXX.
I again received an automated letter from XXXX XXXX , XXXX ( who is acting under glimpse of PennyMac ) asking me how I want to return my commission to XXXX XXXX XXXX either in lump sum, or in any other manner, while XXXX expects me to continue performing my services for them such as acting as a guarantor for their securitization scheme where XXXX collects bets from investors about performance of certain groups of DATA located on XXXX XXXX XXXX and backed by my securitized identity ( aka unjust enrichment and identity theft ) XXXX XXXX tactic is commonly known as extortion racket since NO ONE including XXXX XXXX can not identify the owner of the account receivable who holds my loan as their ASSET on the general LEDGER.
Nobody provided me even the name of the SELLER of my loan to XXXX XXXX or anyone else. PennyMac swamped me with absurd and contradicting lies and was only provide print outs of reports which look like my payment history where entries do not even match the actual events ; as well as lack ANY evidence of ANY sales or any ownership of the account RECEIVABLE for my purported loan A report is not a record. It is a statement made about a record made by unknown persons. That means it is lacking in the foundation since the person who made entries from which the report was generated is unknown and can not be questioned.
PennyMac once submitted me copies RECORDS which were emailed to them by someone ( either XXXX XXXX or XXXX ( now XXXX XXXX ) as PDF kit on XX/XX/XXXX, by someone, on the same day as I submitted a request for help with Michigans Senator XXXX XXXX.
In other words, PennyMac, who lied from day one to be a Servicer and purchaser of my loan had NO single RECORD of any proof of purchase related to my so-called loan loan, not even REPORTS generated by XXXX XXXX, who emailed it to PennyMac later as a proof of non-existing transaction.
As previously detailed, PennyMacs employee XXXX XXXX has no personal knowledge about the payment history and neither does the company he purports to be appearing as a servicer.
XXXX XXXX, who is the ACTUAL servicer of non-existing loan accounts emailed these meaningless documents to PennyMac to create a false impression that my loan account receivable exist ; the loan account receivable is portrayed on that report ; The amount promised is shown on the payment history report ; XXXX XXXX ( who has no clue who sold my loan to PennyMacv and whom PennyMac is servicing ) has personal knowledge and familiarity with the way the report was generated ; ; The report is a complete record of all transactions relating to the alleged loan receivable account as represented on the payment history report. All payments have been properly accounted for and entered by competent trained personnel at or near the time of their receipt. All disbursements have been properly accounted for and entered by competent trained personnel at or near the time of their payment.
NONE OF THOSE THINGS ARE TRUE IN COLLECTION OF MY MONEY ORGANIZED AND OPERATED BY INVESTMENT BANKS WHO DO NOT APPEAR ON THE RECORD AND THEREFORE CAN NOT BE DIRECTLY SANCTIONED FOR PRESENTING FALSE AND FRAUDULENT INFORMATION.
THE NEXT SET OF REPORTS PRESENTED BY XXXX XXXX via PennyMac AS THOUGH THEY WERE COPIES OF THE RECORDS.
Examples include mortgage, assignment of mortgage via XXXX to XXXX XXXX XXXX , XXXX on the same day as closing ( while XXXX itself deny its involvement until XX/XX/XXXX as a Servicer ), endorsements of notes, allonges, and so forth. Those documents basically report that someone paid value for the underlying debt, or the note, or the mortgage.
Bear to repeat, NOBODY from the beginning, XXXX XXXX NEVER confirmed or provided ANY RECORDS regarding ANY Sales to anyone.
According to XXXX XXXX XXXX fairy tale, XXXX XXXX ( who was not even originator of my transaction, much less a Lender ) purportedly sold my loan to someone, get money and started to fund new mortgages. ALL of it is a lie.
The ORIGINATOR was XXXX XXXX whom XXXX submitted my information via XXXX XXXX XXXX.
Money to pass me for my home purchase were borrowed by XXXX XXXX XXXX from some undisclosed investors, backed on my and similar applications for loans as letters of guarantee ; and funds were passed to XXXX XXXX who forwarded them to me via XXXX XXXX XXXX who used XXXX Mortgage as a sham Lender to cover up the hidden parties - as a commission for my cooperation in XXXX XXXX XXXX securitization scheme ( and probably some other Stockbrokers who sell unsecured bets backed homeowners identities indefinitely. ) The important thing about reporting documents is that by looking at them nobody cant tell if anything on them is true or false. In fact, MY reported payment history is full of highly questionable evens, like falsely reported deficiency fabricated by XXXX XXXX, which is not even reported.
The second type of document which I repeatedly demand ALL parties XXXX, XXXX, XXXX XXXX, XXXX XXXX XXXX XXXX and PennyMac to produce - is the one I never see now but they were always seen before Big Banks securitization scheme started.
They are the original documents on which entries were made on the ledger of a company accompanied by a canceled check or wire transfer or ACH receipt.
This means that the bookkeeper or VP of loans at a financial institution literally made a deposit of money into a loan account that can be identified. If these things do not exist, then any report that they do exist is untrue. And what I am saying is that in the context of securitization this never happens because the securitization players do not want and do not create or maintain a loan account even though they want homeowners think otherwise.
So if, to make it simple, I have a canceled check from a party made payable to me and deposited into a financial account in the name of me as the homeowner, I have the beginning of a loan.
But I dont see that anymore on any report sent to me by all parties, even though that is exactly what the law requires. Instead XXXX XXXX has convinced everyone to accept the reporting documents as though the accounting entries were made. But they never, ever show those accounting entries.
So in practice, the use of reporting documents works up to a point. They are presumed valid until challenged. But as soon as I asked for the original documents or even copies of the original documents, I never get it.
Not only documents, even the most basic information such as who SOLD my loan to PennyMac and which XXXX XXXX XXXX has my purported loan as their asset.
The reason for the absence of accounting or original documents is simple. The securitization players had to avoid any loan account when they sold securities because if they owned a loan account they would be accused of selling the same loan over and over again.
Instead, they sold securities representing performance data bets on nonexistent loan accounts as reported in the sole discretion of the investment bank who was operating under the fictitious name of the XXXX trust.
I once again demand XXXX XXXX XXXX, XXXX XXXX, PennyMac and Caliber to stop their chicanery and racketeering activities and provide me PROOF that my loan is property recorded as an asset on account receivable and which Company owns this account receivable.
Is it PennyMacs contention that PennyMac has paid value for the underlying obligation ( previously defined in " Definitions '' ).
Is it your contention that the Seller ( please provide the NAME of the Seller ) has received value for the sale of the underlying obligation Please identify the person or persons that are the legal custodians of documents relating to any purchase for value or sale for value by PennyMac, including their past and current employment, address, phone number and email address.
Please identify the documents relating to any purchase for value or sale for value by PennyMac, including but not limited to any index or file number, with sufficient specificity such that it could and would be produced ( upon proper process ) without a legal objection as to vagueness or ambiguity.
Please identify the geographical location and address of the place in which the above-referenced documents are stored relating to any purchase for value or sale for value by PennyMac, including but not limited to any index or file number, with sufficient specificity such that it could and would be produced ( upon proper process ) without a legal objection as to vagueness or ambiguity.
Please produce for inspection the original cancelled check or wire transfer receipt or other electronic funds receipt for payments to and from PennyMac relating to the above referenced documents.
Once I receive VALID respond from PennyMac related to their purchase from a secretive Seller ; identify the Seller ; and verify value paid by PennyMac for my so-called debt, I will carefully review all these documents and submit other questions as necessary.
So far I have no evidence that my so-called loan exists on any accounting ledgers of any company ; as well as any proof that it was a loan at the beginning.
XXXX XXXX must stop terrorizing me with their bogus demands for lump sums payments which they sent under glimpse of PennyMac, since XXXX XXXX is a well-known criminal who forged millions of fake assignments about non-existing transactions as well as racketeer homeowners with demand for money XXXX XXXX has no rights to collect. Specially fabricated by XXXX XXXX bogus deficiencies Best regards XXXX XXXX
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| 04/29/2020 |
Yes |
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- Trouble during payment process
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Web |
Servicemember |
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Dear CFPB, Please find my Complaint against PennyMac Loan Servicing LLC ( PennyMac ), fka XXXX XXXX and my request to help with forbearance of my VA loan under CARES ACT enacted by President Trump on XXXX XXXX, XXXX. The Act allows veterans with Government Guaranteed loans to place their loan in forbearance for up to 12 months due to economic damages resulting from coronavirus pandemic with ruined American economy and severely harmed my family who all lost jobs, specially who worked in travel and transportation industry which are down indefinitely - as well as all income.
Please help me to place my loan on forbearance as provided by the law due to economic hardship caused by COVID19 pandemic.
In addition to hardship caused by pandemic, I am also a victim of nefarious scheme operated by XXXX XXXX XXXX and their sham conduits PennyMac who falsely poses as an Owner/Creditor/Purchaser/Servicer/Investor and Issuer of securities backed by my XXXX XXXX loan - while nobody -including PennyMac - can provide any evidence that my loan was ever securitized and placed in a XXXX XXXX XXXX as promised to me by a purported Lender, XXXX XXXX, XXXX when I signed my loan documents.
As I later learned, this entire transaction was just a masquerade for a much larger scheme - issue of derivatives backed by personal data and my financial information - commonly known as identity theft- operated by XXXX XXXX XXXX through a chain of actors who pose as Lenders and Servicers to defraud borrowers like myself and investors whom Stockbrokers and their sham conduits like PennyMac resell borrowers personal data without attaching it to any debt. Which creates a fatal damages to property Titles. Entities like PennyMac are hired to push borrowers in defaults and launder fatally defective Titles - but creates enormous profits for Stockbrokers ( here - XXXX XXXX XXXX XXXX at least 12 times more money that the amount they purportedly loaned from a reserve pool which are is attached to any loans ( aka table funding ) Statement of Facts.
On or about XX/XX/XXXXXXXX I was approached by PennyMac who informed me that they are new Servicers for my loan backed by XXXX XXXX which is a subject of very strict standards and regulations. I immediately suspected a scam, specially after I learned that PennyMac and XXXX XXXX XXXX , XXXX ( a purported " prior Servicer '' are actually parts of the same company - XXXX XXXX, operated by the same executives who collapsed US economy in XXXX, defrauded investors from trillions of dollars ; and illegally foreclosed millions of families with forged documents. So, demanded to validate my debt and provide me a proof of a legit transfer.
My simple request resulted in an avalanche of lies which continues as of today. PennyMac never validated my debt, and violates every single law possible, including but not limited to FDCPA, RICO Act, MI Statute of Frauds, UCC, etc - and now illegally threatens me with a foreclosure.
According to PennyMac, SOMEONE ( whom PennyMac can not identify ) sold them my performing loan ( which is was not available for sale since XXXX XXXX does not sell performing loans, only if a loan is over 4 months delinquent ) and this is how PennyMac became an owner/investor/ Issuer of XXXX XXXX securities backed my loan and a Servicer who collects my payments to remit it to XXXX XXXX XXXX XXXX as a Trustee for a Trust ( which nobody can identify ) who distributes my payments to investors ( here - PennyMac ). Which is a total absurd and a flagrant lie, as proven by multiply sources, including XXXX XXXX, XXXX and XXXX XXXX.
According to XXXX XXXX Senior VP Mr. XXXX, XXXX XXXX has absolutely no knowledge about PennyMacs role as an Issuer of securities backed by my loan.
XXXX never confirmed any sales of my loan to PennyMac or PennyMac 's ownership of my loan.
No one can provide me ANY information about XXXX XXXX XXXX where my loan is purportedly pooled as a security - even a basic information such as Trust name, date when it was created, who is a Trustor who established this Trust - NOTHING. Worth to mention, XXXX XXXX XXXX are XXXX XXXX which are treated as a corporation for the purpose to avoid Federal taxation. Thus, they must have a State registration and pay taxes from profits received from my mortgage payments - which is apparently was never done.
Yet, PennyMac expects me to take their relentless lies as a truth and treat PennyMac as an owner of my debt - which is a lie ; and as a Servicer for a legal entity - Trust - which nobody is able to identify.
According to a recent respond from Michigan Department of Insurance and Financial Services representative, MrsXXXX XXXX, XXXX XXXX XXXX XXXX XXXX purportedly transferred servicing rights for my loan to PennyMac - but never mentioned that XXXX or anyone else SOLD my loan to PennyMac - which requires a Proof of Sale under UCC Art. 9. or otherwise transferred an ownership for my debt, as PennyMac claimed. The proof was never provided.
Moreover, all evidence supports my conclusion that that the entire transaction - my purchase of a loan from XXXX XXXX XXXX XXXX ; purported transfer of my loan to XXXX XXXX XXXX on XX/XX/XXXX while according to Allonge to my Note some Collateral Shipper XXXX XXXX assigned my loan to XXXX on XX/XX/XXXX, or my closing day - while some reason refuses to admit this transaction - was a scam.
The entire enterprise was about selling and reselling my private financial data while I was tricked into thinking I were entering a loan agreement while the other side spared no effort in avoiding the title and liability of a lender under lending laws. That was not a loan and the agreement was not a loan agreement at all.
More importantly, the agreement might not be enforceable at all since ( a ) there was no meeting of the minds and ( b ) there was an absence of consideration caused by the payment of consideration together with an obligation to pay it back.
For the investment bank ( XXXX XXXX XXXX ) this was solely about getting consent to sell private data and issuing sand trading securities based on the data not any debt.
It explains why PennyMac appeared in my loan in XX/XX/XXXX. On XX/XX/XXXX PennyMac, a default debt buyer, who for last 20 years helps XXXX XXXX XXXX to defraud borrowers and investors from trillions of dollars, sold for {$190.00} million a box of color printed paper to investors and obviously needed my personal data to use it as collateral for their bogus securities which worth as much as the price of bulk print of their certificates.
It is evident that my loan was never placed in any Trusts since none of it was created - to help XXXX XXXX XXXX and their sham conduits to resell borrowers data as many times as they can.
This scam became even more evident with CARES Act.
* If the holders of certificates are suffering economic loss from nonpayment by homeowners why are they not the direct recipients of Federal relief?
* Who is really going to get Federal bailout money and will it cover a loss or will it be profit?
* If the ultimate result is that obligations are being paid, why isnt the homeowner getting notice of a corresponding reduction in the amount of payments claimed as due?
* Who is the real party collecting money and why?
The answers are obvious. XXXX XXXX is again playing fast and loose with its labels to suit its own ends. If investors fail to receive payments promised them by the investment banks they have only the rights set forth in their contract with an investment bank - the underwriter that underwrote the offering of certificates that were false labelled as mortgage backed and again falsely labeled as bonds. But the underwriter was actually the issuer.
So the entire proceeds of sale of certificates went to the investment bank instead of a XXXX XXXX.
And that is why there is no trust getting a Federal bailout and there was no trust getting a Federal bailout in XXXX. No trust has any claim to any money.
Hidden beneath the waves of economic loss and relief packages is an essential truth about what XXXX XXXX has most people believing was the securitization of loans.
But the loans were never sold, much less divided into pieces that were sold off as securities.
It was personal data that was securitized and then there were complex instruments indexed on that personal homeowner data that was securitized. None of it had anything to do with the sale of any loan nor the collection of any money from me or any other homeowners.
Those self-proclaimed servicers like XXXX and PennyMac are actually collecting money for the investment banks, in my situation - XXXX XXXX XXXX - who receive money from multiple sources continued sales of certificates ( falsely dubbed mortgage backed bonds ), my loan payments, and most importantly trading profits on various derivative and hedge contracts - while never disclose this information to borrowers whose property Titles they fatally damage to defraud investors.
Under CARES Act a borrower like myself in Federal Insured loans can contact Lenders to obtain up to 12 months relief.
Since I am a victim of crimes commonly known as fraud, illegal collection, racket ; identity theft, unjust enrichment, ect - and manipulations with derivatives committed by XXXX XXXX XXXX and their shame conduits, PennyMac, I have no legitimate Lender or any lawful creditor, to contact for forbearance since XXXX XXXX XXXX XXXX the only actual party who collects my payments as their tax-free revenue ) has no intention to stop their racketeering activities and sends me threatening Notices - while XXXX XXXX XXXX made millions by trading my personal data, at least 12 times more than my home worth.
Thus, I request CFPB assistance with forbearance of my VA loan and for an independent investigation and help against PennyMac and XXXX XXXX XXXX illegal conduct. I demand XXXX XXXX XXXX and PennyMac to provide me FULL disclosures how PennyMac became " owner '' of my debt, the name of the Seller who sold my loan along with a proof of transfer ( under UCC Art 9 ) ; Proof that my loan was placed in XXXX XXXX XXXX, with Trust name, EIN, and CUSIP ; pay me royalties from all trades of my personal data ; treble damages for fraud ; treble damages for racket ; and compensation for extreme emotional distress, no less that {$5.00} million ; as well as a Quiet Title for my home.
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| 10/31/2021 |
Yes |
- Debt collection
- I do not know
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- Attempts to collect debt not owed
- Debt is not yours
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Web |
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Complaint against PennyMac Loan Services , LLC ( PennyMac ) for fraud, inpersonation, perjury, racket under THE MICHIGAN PENAL CODE Act 328 of 1931 and other unlawful conduct. Demand for disgorgement of illegally collected money.
Complaint against XXXX XXXX XXXX under Promissory Estoppel and demand compensation of property Title Damages {$130000.00} as promised under Title Insurance Policy.
On XX/XX/XXXX I entered into a transaction labeled as mortgage lending with a fictitious party XXXX XXXX who posed as a Lender. During this transaction I was lead to believe that someone loaned me some money for home financing ; and my transaction is covered by an extensive XXXX XXXX from XXXX XXXX XXXX who acted behind sham conduit XXXX XXXX.So, I had no worries about my transaction since it looked legit.
In reality I was dealing with completely different parties who never appeared in my transaction who never loaned me any money ; and it was not mortgage lending but covered Investment Contract where one of large Investment Banks secretly purchased my signature with promises to repay for certain information about money based on XXXX transaction between XXXX XXXX XXXX and the prior owner, which was a base for initial securitization scheme either for XXXX or some other Big Bank, to sell it on the open market as bets to Investors ( identity theft ) for unjust enrichment such as at least {$50.00} per {$1.00} of information dressed as a " loan '' I reasonably relied on this representation since it appeared to be true but in fact everything was a lie and misrepresentation in XXXX XXXX XXXX ' giant Ponzi Scheme ; securities fraud and direct fraud against customers like myself. My Title Insurance Companies - XXXX XXXX and XXXX XXXX - are also heavily involved in this crime. XXXX XXXX pretended that they received some money as " financing '' ( which they not able to prove ) and deceptiovely sold me Title Insurance Policy from XXXX whom themselves cloud property Titles with forged documents via its subsidiaries such as XXXX XXXX, ect.
On or about XX/XX/XXXX someone acting as PennyMac sent me an unsigned letter claiming to be a new Servicer for my alleged transaction with XXXX.
This sudden change of Servicers for my purportedly XXXX XXXX loan looked suspicious and I decided to file a Qualified Written Request and Debt Validation Demand to PennyMac ( formerly XXXX XXXX ) and XXXX XXXX XXXX , XXXX ( formerly XXXX XXXX ) where I asked for proof of authority to collect from me any money by PennyMac and XXXX ; and whom they are servicing all this time.
Both Companies erupted in lies. Caliber initially claimed ownership in my loan but later changed ownership to XXXX XXXX.
From XX/XX/XXXX to present time PennyMacs employee XXXX XXXX ( if it is his real name ) insisted that PennyMac purchased my loan from someone whom PennyMac still can not identify ; my loan is pooled in some XXXX XXXX XXXX where XXXX XXXX XXXX XXXX is a Trustee ( neither PennyMac or XXXX can not identify this Trust ) and that PennyMac is the owner/investor/creditor of my alleged obligation who collects from me paymentsas a servicer to pass them to XXXX XXXX XXXX XXXX who distribute my payments to Investors who is PennyMac. This is absurd, specially since PennyMac can not prove any of these statements.
On XX/XX/XXXX, or one year later, XXXX XXXX, XXXX ( XXXX, acting as MERS ) Vice President XXXX XXXX ( whom nobody can find ), hired by XXXX ( who transferred my alleged loan several times between XXXX XXXX XXXX, XXXX to various parties ), appeared before FL Notary XXXX XXXX and XXXX XXXX XXXX XXXX XXXX XXXX ) employee XXXX XXXX and presented some documents ( which are never available to me ) for review.
If XXXX is a real person living in some legal jurisdiction, he exists. But that doesnt mean that anyone can just use his name to engage in a transaction with anyone else, much less the courts.So far nobody can find neither VP XXXX or Collateral Shipper XXXX XXXX whose electronic signature is attached to XXXXtransferring my Note to XXXX on my closing day. XXXX refused to investigate these illegal and fraudulent transfers even though I demanded them to investigate.
One of such documents presented by Ghost VP XXXX was some good and valuable consideration paid by someone to someone on some undisclosed time.
Based on these documents XXXX attached Mr. XXXX electronic signature and via XXXX fictitious name XXXX, XXXXsubmitted this forged Assignment to XXXX XXXX XXXX office for recording.
According to my XX/XX/XXXX conversation with XXXX agent XXXX, XXXX does not do any filings they merely allow other companies to use their system for recording documents- in my situation ( as Mr. XXXX said ) to XXXX who decline to answer any of my questions about their authority to act on behalf of my legit creditor.
Mr. XXXX answers contradict with XXXX website description of their services digitizing document creation and processing. Docs can be electronically signed, notarized, and recorded. So, basically XXXX via XXXX offers a mass forgery of documents since their convenient electronic notarization is a flagrant violation of Notaries professional obligations and legally insufficient.
On XX/XX/XXXX I called XXXX and spoke with their agent XXXX XXXX who promised to call me back with more information about who authorized XXXX to prepare this Assignment, which documents were presented to XXXX for review, that was the amount of consideration and who paid it and to whom, and that is contact information for XXXX ( dba MERS ) Vice President XXXX, so I can tact him in person.
Someone from XXXX called me later and left me a message that I suppose to contact Servicer PennyMac to ask PennyMac these questions. Its unclear why I should contact PennyMac, who was an assignee- not the Assignors XXXX/MERS/XXXX On XX/XX/XXXX I called PennyMac and spoke with their representative Mrs. XXXX who firmly attested that the owner/investor of my alleged transaction is XXXX XXXX. Since this was a conversation with the debt collector, it was recorded by me for quality purposes and can be presented for review.
Mrs. XXXX several times firmly confirmed that XXXX XXXX is the owner of my alleged obligation and investor.
Which drastically contradicts with PennyMacs employee XXXX XXXX statements that PennyMac is the owner and investor. When Mrs. XXXX tried to connect me with XXXX XXXX, he dropped off the line.
Neither XXXX or XXXX can not tell me whom exactly PennyMac is servicing ; who appointed PennyMac as a Servicer and which authority has PennyMac to demand from me any payments.
According to letter from HUD on XX/XX/XXXX, XXXX XXXX has no records of any of my transactions starting from XX/XX/XXXX, when I signed alleged Mortgage with XXXX.
Since PennyMacs employee XXXX in the harsh manner demanded from me money ( under unknown authority for unknown creditor ) and even threatened me with foreclosure, this is a text-book racket under MI Act 328 of 1931inlcuing but not limited to ( m ) A violation of section 93, 94, 95, or 96, concerning bank bonds, bills, notes, and property.
( n ) A violation of section 110 or 110a, concerning breaking and entering or home invasion. ( someone under name PennyMac repeatedly sends me property inspectors from other states who trespass to my property without notices to me ; and illegally charge me for it which is a pure racket.
( v ) A violation of section 213, concerning extortion. ( w ) A felony violation of section 218, concerning false pretenses. ( y ) A felony violation of chapter XLI, concerning forgery and counterfeiting ( z ) A violation of section 271, 272, 273, or 274, concerning securities fraud. ( hh ) A violation of section 422, 423, 424, or 425, concerning perjury or subornation of perjury ( Mr. XXXX repeatedly lies to MI DIFS and CFPB which is a Federal Authority ) I will submit a report with my local police Department to demand them to investigate PennyMacs unfounded demands aka racket, illegal trespasses to my property by unauthorized inspectors ; Proof of Lending from my local con artists XXXX XXXX XXXX who purportedly received some money transfer from XXXX but never provided me any proof of it and who purportedly recorded my mortgage in XX/XX/XXXX and other crimes.
I again demand PennyMac to provide me proof of authority to collect from me any money and who provided this authority to PennyMac ; material proof of their alleged ownership of my obligation ( copy of wire transfer, cancelled check, ACH ), the amount of good and valuable consideration paid by PennyMac for my alleged obligation, to whom it was paid ( names and contact information ) and a copy of PennyMacs ledger and the name and contact information for the Accountant who is responsible for making entries in this ledger.
Since forbearance of my non-existing loan account is ended and I experience a hardship to make tax-free donations to racketeers who are acting under name of PennyMac, I will deposit all my payments into an interest bearing account and gladly transfer them to an Accountant of my alleged Creditor ( if any ) but only when I will be able to contact this Accountant directly and receive copies of all documents based on which PennyMac claims their ownership and authority to collect ; proof of all disbursements ( including valuable consideration paid for my loan ) and deposits of my prior payments into my alleged creditors account receivable ( not bogus Financials printed from XXXX XXXX XXXX ).
My Creditors Accountant must be a real person who ( 1 ) can personally contact me to provide me his/her contact information and direct email ; ( 2 ) acknowledges my payment; and ( 3 ) claims, in writing signed by an officer that is legally authorized to issue the acknowledgement because it is the owner of the alleged underlying obligation.
In the meanwhile I demand from PennyMac and their master Stockbroker a disgorgement of all money paid by me from XX/XX/XXXX ; and damages for being cut out of a deal that I was unknowingly drafted into participating.
This is not a refusal to pay but demand for proof of ownership, authority to collect and existence of my alleged obligation I further demand XXXX XXXX XXXX to compensate me {$130000.00} for damages under my Title Insurance as required by Promissory Estoppel in Michigan law.
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| 10/21/2020 |
Yes |
- Debt collection
- Mortgage debt
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- Attempts to collect debt not owed
- Debt was result of identity theft
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Web |
Servicemember |
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Dear CFPB ( CC : XXXX, XXXX XXXX, XXXX, XXXX XXXX XXXX XXXX XXXX ; AG ; DOJ, SEC and other authorities ) Please find my request to extend my forbearance for at least 3 more months, or until XX/XX/XXXX, as provided by CARES Act of XX/XX/XXXX, for my purported " loan '' with non-existing Lender XXXX XXXX XXXX XXXX which is now purportedly " owned '' by self-proclaimed " Servicer '' PennyMac who can not identify the Seller of my loan ; or the day when PennyMac " purchased '' something or assumed servicing.
Based on financial statements and other evidence, XXXX and XXXX XXXX are the real Servicers of my payments to XXXX XXXX XXXX as tax free revenue who along with several Big Investment Banks operates Ponzi Scheme with Pension funds - whose money XXXX use to pay my property taxes and all insurances from XXXX - while my escrow payments are pocketed by XXXX 's gang as additional revenue.
Please also find my Complaint against PennyMac and XXXX and demand for explanations and documents.
On XX/XX/XXXX I submitted a Complaint against PennyMac where I demanded explanations why my property taxes are paid by XXXX who always claimed that they have no relationship to my loan.
Based on XXXX respond, their branch, XXXX XXXX XXXX, XXXX under sole management of XXXX XXXX, ( XXXX XXXX XXXX XXXX XXXX, XXXX and XXXX XXXX XXXX, branches of my deceptive Title Insurance Company ) were hired by PennyMac Loan Services , LLC ( who is acting as a Government Contractor for my VA loan ) to pay my property taxes after XXXX XXXX XXXX XXXX ( whose MSP and other systems are exclusively used by XXXX XXXX and VA ) kicked PennyMac from their system for the theft of records.
Thus XXXX XXXX XXXX, XXXX became a Subcontractor for XXXX XXXX and must be approved by the Government to provide services to Contractors ( here : PennyMac ) who also claim to be Buyers and Owners of my debt without any single document in support.
I demand PennyMac to provide me a copy of VA approval of XXXX XXXX XXXX XXXX as a subcontractor for my loan and who authorized them to perform tax services. Please provide me a copy of PennyMacs contract with XXXX XXXX XXXX, XXXX to perform payments of my taxes.
PennyMac repeatedly refuse to provide me the answer who " sold '' them my loan - while submit false and contradicting statements about their status as an owner/buyer/issuer and Servicer of my VA loan, none of them have any material support or any confirmation from other players.
On XX/XX/XXXX PennyMac sent me copies of Financial Statements which PennyMac identified as XXXX XXXXl Statement which further prove that PennyMac, XXXX and XXXX relentlessly lie to Federal authorities and customers like myself.
First,, statements sent to me by PennyMac do not match PennyMacs lies regarding purchase of my loan on XX/XX/XXXX XXXX while XXXX insists it was merely a transfer of servicing rights, also not supported by any evidence except XXXX 's misleading letter ).
Second, the statements do not match XXXX lies either.
For example, XXXX said that they assumed Servicing from XXXX XXXX on XX/XX/XXXX. But the Statement shows multiply transfers betweenXX/XX/XXXX-XX/XX/XXXX back and forth generated by The System. In other words, neither XXXX or XXXX did not generated these transfers.
Next, all my payments are posted by Autopost, without XXXX XXXX involvement.
Next, XXXX insisted that I had a deficiency in XX/XX/XXXX and my new payments will be {$1000.00} which can not be find nowhere in the XXXX statement.
As well as no indication about any transfers to PennyMac. To the contrary, The System made numerous questionable transfers back and forth between XXXX XXXX XXXX, XXXX, along with amount of payments {$1300.00} which I never had and which never appeared in any of my Statements.
PennyMacs financials about my loan are no better.
First, they look like a basic Word Table which can be prepared by any third grade scholar who is familiar with computers and know how to type.
Second, here is no indication about XX/XX/XXXX sale to PennyMac ; or even transfer of servicing rights PennyMacs financial statement starts from XX/XX/XXXX and stated that here was a New Loan Set Up.
Bear to repeat, PennyMac claimed that they purchased my existing loan on or about XX/XX/XXXX.
I demand explanations why PennyMacs statements start from XX/XX/XXXX with a NEW loan set up which nowhere reflects in their correspondence and statements.
Next discrepancy is about my forbearance. According to PennyMacs statements Corporate Advances started to appear on my statement beginning XX/XX/XXXX, or when XXXX XXXX, XXXX discovered PennyMacs theft of their records ( which based on PMs statement is very obvious why ), and continue as of today.
However, it does not indicate which Corporation made these Advances. Please identify Corporation which made advances for my loan between XX/XX/XXXX to present time ; and which company disbursed money to XXXX to pay my property taxes.
According to XXXX recent respond to my CFPB complaint, XXXX IS and was the central repository of all data and electronic records for most residential loans in the United States. The main IT platform running several systems is called XXXX XXXX which is owned, maintained and operated by XXXX pursuant to instructions from XXXX XXXX ( and perhaps others ) who are serving the interests of investment banks who have no legally recognized interest in any of the alleged loan accounts.
But they dont want the government or the public to know any of that because they are designating nominees to serve or pose as servicers who can be thrown under the bus at any that that foul play is actually addressed instead of settled.
Based on ALL documents my loan was originated by XXXX XXXX, with support from XXXX both pretend to be merely servicing software providers. Which is a lie.
According to XXXX, they GENERATE workflow to their clients, and personally admitted to CFPB that : 1. XXXX exists although they deny it is currently accessed through XXXX 2. XXXX is an electronic case management system. Taken in context with customs and practices in the industry in addition to simple logic, it is THE case management system and it is electronic which means that anyone with login credentials can get into it.
3. XXXX output consists of the following : 1. centralized electronic workplace 2. storage of documents i.e., images not the original documents because they are not a records custodian for anyone.
3. As the centralized place for storage it is XXXX that is the source server from which all records are produced in printed reports that are merely generated from what is in XXXX regardless of who added or deleted or changed anything.
4. initiate workflows defined by our clients. This is odd wording.
1. They appear to be saying that clients access the system and are simply using it as an IT platform to conduct business of the client.
2. But XXXX initiates workflows, which means that they have admitted that whoever is actually running XXXX is making the decisions on when and how to initiate any action.
3. Since the entire purpose of this system is preparation for foreclosure, the only logical conclusion is that it is a system to initiate foreclosures, notices of default, notice of delinquency etc. based upon human decision-making or automated decision making initiated by humans that control XXXX.
4. They will of course say otherwise and that seems to be what they are trying to say that the client determines the definitions and circumstances of workflows.
5. But dig a little deeper and you will find that the client has no right to make such decisions and that the decision is labelled as the decision of a client ( e.g. XXXX and PennyMac ) by permission from XXXX and PennyMac, who is not actually allowed to make such decisions and does not make such decisions.
6. So the reference to the Client making such decisions is circular allowing anyone to say that it was XXXX or XXXX who made the decision ( thus avoiding liability for XXXX and PennyMac et al ) OR to say that it was XXXX and PennyMac, as they do in this letter.
4. They admit that XXXX is the party who owns and maintains the storage and functions of the XXXX system while at the same time implying that they have no connection with XXXX.
5. They assert that the data is owned by the clients. This is a common trick.
1. The data is not owned by the clients because it doesnt consist of any entries or proprietary information placed in the system by the client.
2. The information or data is placed there mostly through automated systems controlled by XXXX XXXX but operated by XXXX.
XXXX. Nominal Servicers ( XXXX and PennyMac e.g. ), who are the clients actually have no way of knowing anything about a homeowner account until after it is placed in the system by third parties.
4. But after PennyMac was kicked out from The System they were not able even pretend they performing ANY servicing duties and here some mysterious corporate advances came to play.
XXXX financial statements are entirely consist of entries made by The System aka XXXX XXXX XXXX with help from XXXX, not by XXXX.
Summary : Please confirm that Financial Statements between XXXX XXXX, XXXX thought XX/XX/XXXX belong to XXXX XXXX XXXX, XXXX and were prepared by XXXX employee.
Please provide me the name and contact information of XXXX employee who was responsible for my account ; and who forwarded these statements to PennyMac.
Please explain why PennyMacs ledger starts from XX/XX/XXXX with a NEW LOAN SET UP. Please provide me the name of the employee at PennyMac who set up a new loan and a copy of this new loan Please provide me the name of the Corporation ( or Corporations ) who between XX/XX/XXXX to present time makes Corporate Advances.
Please provide me the name of the Company who disbursed funds to XXXX to pay my property taxes in XX/XX/XXXX and in XX/XX/XXXX.
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| 02/05/2019 |
Yes |
- Mortgage
- Other type of mortgage
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- Trouble during payment process
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Web |
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On XX/XX/XXXX I sustained a loss to my home due to water damage. Working with my home insurance agency and licensed contractors, I obtained an estimate to repair damages and received an initial check from the insurance agency in the amount of {$15.00}, XXXX in order to contract with a builder to begin repair work. The check was issued on XX/XX/XXXX an image of the check and the adjuster 's report is provided with this complaint.
I was informed that due to California law the claim check would be issued in my and my wife 's names, as we are the insured, and in PennyMac 's name, as they are my mortgage holder. I would need to contact PennyMac to receive instructions for their endorsement of the check so that I could access funds for repair.
XX/XX/XXXX I contacted PennyMac and was transferred to their insurance claim department. I requested instructions to receive their endorsement. I was asked for the amount of the check and responded {$15000.00}. I was placed on hold, after which I was told that I qualified for a simple endorse and return. I would send the check to them, unendorsed by myself and my wife, they would take 2 business days to endorse the check, and then send it back to me. I was told that I could expedite the process by sending the check overnight to a special address, and including a prepaid overnight return envelope with my request. I was also told the only documentation that I needed to include was the unendorsed check, and the adjuster 's report.
Saturday, XX/XX/XXXX - I sent the documentation PennyMac requested, with the unendorsed check to the address provided. I paid for overnight service through XXXX, and I paid for overnight return service to be included as well. The cost of this service was {$110.00}. Receipt and documentation is attached to this complaint.
Monday, XX/XX/XXXX - My check and documentation were delivered to XXXX at XXXX local time. A screenshot of delivery confirmation from XXXX is included with this complaint.
Friday, XX/XX/XXXX - I called XXXX to enquire as to the status of my check. While according to my first contact with them I should have had the check back to me by this point, the XXXX tracking number showed that the package had not been sent at all. I was told that since the amount of my check was over {$15000.00}, it did not in fact qualify for endorse and return, and at the moment it was being held by corporate offices until they made a decision as to whether they would make an exception, in which case they could endorse and return my check, or if they would not make an exception. When I enquired what would happen if an exception was not made, I was told that PennyMac would hold on to my money and disburse it in increments. I was not given any details as to what this meant. I was not advised of the process, or any additional documents that I needed to provide. I was only told that there would be a decision made within 8 business days. When I enquired as to why I was not told this information during my initial contact to receive instructions, the representative could not give me an answer, she only told me that this was policy. I asked to speak with someone who could answer my questions. I was placed on hold to speak with a " supervisor. '' After a 10-15 minute hold I was told by the original operator that a supervisor could not be reached at this time, and that she would 1 ) place a request to expedite the decision on my check ; 2 ) request that a supervisor call me back directly, by end of business that day ; and 3 ) transfer me to a supervisor 's voicemail to leave a message also requesting callback. I agreed and left a voicemail at an unidentified voicemail prompt citing my loan number, my name, phone number and request. I did not receive a phone call back by end of business that day.
Monday, XX/XX/XXXX - I called PennyMac 's insurance handling department on the morning of XX/XX/XXXX, aXXXX XXXX XXXX PST. The total duration of my call was 35 minutes. I first spoke with a representative who told me that my check had been deposited into a holding account and that I would need to provide significant additional documentation in order to access the funds. I first enquired as to how PennyMac could deposit/cash a check made out to my wife and myself that neither of us had endorsed. The representative was not able to answer the question, only saying that " We are able to cash that check. '' I must note at this point that I am disturbed that PennyMac can cash a check written to me, without my endorsement. Of course, the irony of this is that this process began because I, the consumer, could not cash the same check without their endorsement.
This representative could not answer my questions : 1 ) Why has the process changed since my initial phone call? ; 2 ) How can PennyMac cash a check without my endorsement? ; 3 ) Where is this money being held, and is PennyMac receiving a cash benefit from holding it? ; 4 ) What happened to the process where corporate was going to make a decision on my exception? When she was not able to answer my questions I asked to speak with someone who could. I was placed on hold and transferred.
The representative I spoke with at that point identified herself as an " escalation representative. '' I asked her the same questions. She was unable to provide any answers, let alone adequate answers to my questions. She only told me that PennyMac was able to deposit my check without my endorsement, and that I needed to provide additional documentation. I asked where I find out about this process, as it had still not been laid out to me. I was told that she could fax me the documentation, or send it through the mail. I said that this seems to me to be a ridiculous process. I asked how I could have possibly known about this process unless I had called? Was it PennyMac 's practice to not inform customers about how to access funds so that they could repair their houses? I was also told that " PennyMac would not allow me to make repairs on my own house. '' When I asked what the consequences would be if I did make my own repairs ( which, I am not doing ), what would happen to this money being held - would it just be absorbed by PennyMac? I was told that if I did not follow their process ( still not explained to me ), the funds would sit until a decision from corporate was made as to what to do with them.
I requested to speak to someone who could answer my questions. I was placed on hold to wait for a supervisor. After about 10 minutes on hold, the escalation representative returned to say that no supervisors were available, and that she would request that one call me back by the end of business on Monday, XX/XX/XXXX - that same day. I replied that I would prefer to simply wait on hold as long as it takes, as a supervisor was supposed to call me on Friday, and they did not. The representative informed me that she could not allow me to stay on hold since Mondays are busy days and they couldn't keep lines tied up with people on hold. I informed her that Mondays are busy days for me as well, and that it was inconvenient for PennyMac to be holding up a significant sum of money so that I could repair my home. She guaranteed me that a supervisor would call me back by end of business. I asked to speak to anyone in their corporate office who could give me a clue as to how this process was working. I was told no. Seeing I would get no further with this representative, I agreed and hung up.
I was not called back by end of business that day. I still have not been called back.
Also on Monday, XX/XX/XXXX - my insurance agent, seeking to provide me assistance, called PennyMac on my behalf and spoke to someone in the insurance claims department. They called me on the phone together to obtain permission for my agent to communicate about my account. I gave that permission. My agent was able to obtain no helpful information. In fact, the information provided to her was contradictory in that they said I would be receiving a check for funds ( they did not specify an amount ), by Thursday, XX/XX/XXXX. My agent was not clear why this was the case. I do not believe that I will receive a check this week.
I do not consider the correspondence with my agent to be the " callback '' I was guaranteed from the escalation representative.
One final item, from Monday, XX/XX/XXXX. Upon calling and hearing the automated response menu, I noted that there was an option to log into a particular website, insuranceclaimcheck.com, in order to work through the claim process. This was never once mentioned to me by any customer service representative that I spoke with. After my phone call I went to the website and created an account. This actually seems to be a whole website devoted to helping customers through this process - however, when I login I get a popup window that states that my account needs special attention and can not be serviced online, that I need to contact customer service. The phone number for insurance claims is given. So, I can not access this website, and I can not access adequate customer service from PennyMac 's phone system.
At this point - PennyMac is holding {$15000.00} of money allocated to me to complete repairs on my house. They are doing this, as I understand, to make sure that I actually complete repairs on my house. However, I can not begin repairs on my house without the money allocated by my home insurance to do so. Further, I can not access that money because I have not been given a process from PennyMac by which I might access that money. The longer the property goes unrepaired the more of a significant disruption this is to my family 's lives.
I will be calling PennyMac back this morning to see what sort of progress I can make at this point.
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| 04/30/2018 |
Yes |
- Mortgage
- Other type of mortgage
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- Struggling to pay mortgage
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Web |
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In XX/XX/XXXX I lost my job for the 2nd time this year and in XXXX i was having an issue with my bank and money and was going to struggle to pay my mortgage that month. So near the end of XX/XX/XXXX or beginning of XX/XX/XXXX I contacted PennyMac and informed them of my financial situation. They were eager to help and ran through an application process about my current income/assets/debts and pulled credit. They came back and approved me for a USDA unemployment forbearance for 6 months with a monthly payment of only {$5.00} and at the end of 6 months I would resume making my previous monthly payment amount of {$550.00} but never stated in writing how the delinquent months would be recouped, but verbally told it would be rolled into onto the end of my mortgage with a modification. I asked if I should make my XX/XX/XXXX and was told DO NOT pay it because it could make my forbearance plan void that it would be rolled into the end of the mortgage as well. I was excited that it was this easy to get the help I needed to get through this stressful time being without a job and short about $ XXXX {$800.00} a month for bills. I made my XXXX required payment by phone after chasing down my single point of contact XXXX XXXX. I left numerous messages without returned calls and when I finally spoke with her I was told you don't need to talk to me you can talk to anyone on this team. I again made a payment in XX/XX/XXXX for {$10.00}. XXXX came and another financial blow, I needed my car inspected ( {$40.00} ), but to do that I needed brakes ( {$40.00} ), tires ( {$320.00} ), and wipers ( {$20.00} ), so an additional expense of {$420.00} when I was already short cash for bills. So I had to wait until XX/XX/XXXX to call in my payment and because of my financial situation and had to use a friends account to call in the check by phone because at the time I didn't have an account of my own. After a big run around and lecture for talking on speaker with my friend because she was driving they processed the payment about mid afternoon eastern time on XX/XX/XXXX in the amount of {$10.00}. A few days into XXXX I start getting calls from PennyMac about the status of my account, when i return their call I get told my XXXX payment didn't clear, I want to say this call happened on XX/XX/XXXX because I made a payment of {$10.00} that day. I also believe at this time I started the process to request a modification. I left numerous messages for XXXX XXXX 's boss ( XXXX I believe ), none of which had ever been returned. I wanted to know why I was not called to inform me of the payment not clearing since i had an assigned representative to assist me in retaining my home and it was paid out of my friends account so i had no way to know it didn't clear. I would have then made a payment immediately to clear up this issue. It was not until XX/XX/XXXX i received written confirmation of my forbearance being denied, my account being delinquent and possibility of applying for a modification, and also notice of intent to accelerate/foreclose. I believe i already did the verbal interview to apply for the modification but was waiting for the paperwork to come in the mail. After waiting for nearly a week and not receiving the application for modification I called PennyMac again and they said I could print it off on their website, so I did. I rushed to complete the package and gather all paperwork required and uploaded it to the PennyMac system after struggling for days because i couldn't upload the paperwork unless I did it one page at a time. They reviewed my paperwork and sent a letter it was incomplete because i didn't have 30 days of pay stubs, though i provided my first stub since I only started my new job through a XXXX XXXX at XXXX on XX/XX/XXXX and the email confirming my hours, rate of pay and start date, which should have been sufficient to verify my pay. So I had to wait over a week until my 2nd pay stub was available for the review to be completed. Again another hold up though, during that time I was informed by XXXX I would be hired full time through them starting XX/XX/XXXX, now we needed a written verification of employment to confirm my pay would be the same as it was through the XXXX XXXX. I provided my HR contact 2 different times and nothing was sent out by the underwriter at this point XXXX. Since i work for a XXXX XXXX currently and have been employed as a XXXX XXXX XXXX or XXXX XXXX for over 14 years I printed off a form filled in the contact information and provided it to my HR contact to be completed and fax back directly to XXXX. After receiving it she said she couldn't use it because she didn't send it out and then finally sent it to the HR contact. So she already had the information that my pay rate was the same buy delayed the review again. Mind you I have NEVER to this day spoken with XXXX and i called endless times during the process. I provided a letter of intent to file Chapter XXXX bankruptcy in XXXX once it would have the maximum benefit to file for my situation. After some time passed I logged onto the PennyMac site to find out my modification was denied. I asked why and was read off the sheet the 3 reasons. Housing ratio excessive, DTI excessive, and negative cash flow. I asked what figures they were using to calculate this information and was read the items for denial again. Insisting I be provided with the income and debt figures I was transferred to my underwriter XXXX, guess what I got again ... Voicemail, no return calls again. I called in again and insisted on speaking with someone who can discuss the denial and again read the reason but not given the financial figures requested and transferred to XXXX again, and no response. I started leaving messages for her manager to discuss my denial and very clearly stated I needed to be called after XXXX eastern time due to my work schedule and not being able to accept calls while at work. They couldn't follow this request either and called during my work day. Since i work in the mortgage industry so long qualifying people for home loans I started digging for answers and options. I stumbled across the USDA guides for loss mitigation. I then called in and questioned why I was denied when other options could be available to avoid foreclosure and help me retain my home as they state they are. I was told I breached my contract and voided my forbearance, however in the USDA guides a 30 day late on a forbearance plan is NOT a breach of contract, that requires a 60 day delinquency. A 30 day delinquency applies to a Trial Repayment plan which I am 100 % sure my modified mortgage payment wasn't going to be {$5.00} as the paperwork I received stated I would go back to payment my {$550.00} a month after the 6 month forbearance. I should have never been removed for breaching the contract. I have yet to figure out what type of modification I was ever going to be approved for as my DTI has always been under a 31 % and the USDA requirement is to lower the payment to get the DTI from above a 31 % to below. My DTI has always been over a 55 % percent even including going back to my previous employment with PrimeLending using only my {$38000.00} base pay. I did receive a substantial amount of commission at that job but did not have a 2 year history so it could not be included in my DTI calculation. My cash flow as also always been negative. So how did missing a {$5.00} payment change my approval for a modification to bring my loan current. I have asked several times and told I breached my contract. Yet I did not per USDA guidelines and I tried to have someone go through them with me but was told NO you do not qualify sign your home over for short sale or deed in lieu of, rather than letting them foreclose on my home. I said USDA allows the servicer to apply for an exception to extend the forbearance under certain circumstances to allow the borrower time to get their financial situation corrected if they have a foreseeable plan, which I do. I plan on filing bankruptcy ( Chapter XXXX ) in XXXX once I have my car for 2.5 years so they can wipe out about 12K I am underwater on it and amortize my payment based on the remaining balance. I also would be including all unsecured debts and credit cards practically reducing my monthly expenses by half even with the repayment to the bankruptcy court. I was told numerous times I can't afford my home, end of story. I was also told I probably didn't even obtain and attorney to file bankruptcy why should they believe me that I am filing it. After being told that by a representative that also said I didn't qualify for a modification I hung up on her. So at some point the computer must have come up that i could be eligible since i was provided the Mortgage Assistance Package initial but the 2nd time just told NO. Someone needs to explain. To me this is clearly misrepresentation of options and misleading information causing me to accept a forbearance plan that essentially set me up for foreclosure due to having a negative cash flow during the forbearance. How did they expect me to come up with {$4000.00} to cure the delinquency? By their reasoning for denying the modification I NEVER fit that box at any point. I submitted a written formal dispute for denying the modification and provided them the USDA guidelines so they can review all options they could provide to assist me in saving my home
|
| 03/04/2022 |
Yes |
- Debt collection
- I do not know
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- Attempts to collect debt not owed
- Debt is not yours
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Web |
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Complaint against XXXX XXXX XXXX XXXX XXXX and PennyMac Loan Services , LLC for impersonation and racket. Notice of Intent to Sue and Legal Hold and Preservation of all Documents for anticipated litigation.
Dear CFPB, Please find attached an official letter from HUD who for the second time confirmed that HUD and XXXX XXXX has no records about my transaction starting from alleged lender XXXX XXXX, XXXX ; no records about PennyMacs loan or any servicing activities of this loan ; no records of loan account receivable ; no records about XXXX XXXX XXXX XXXX where my loan is pooled by unknown to me parties and where XXXX XXXX XXXX XXXX ( XXXX ) is a Trustee. XXXX XXXX never heard about Partial XXXX XXXX offered to me by XXXX XXXX XXXX, XXXX branches XXXX, XXXX and XXXX.
XXXX deny any involvement in my transaction, including any receipt of my money forwarded to XXXX by PennyMac.
Credit Bureaus do not have any records about lender XXXX XXXX XXXX XXXX on my credit report at all. So, it is unclear how XXXX XXXX was able to hire XXXX as their nominee and transfer my mortgage ( which is allegedly owned by XXXX XXXX who does not have records for it ) and pass it to PennyMac in XXXX, while all documents must be returned back to XXXX XXXX XXXX XXXX.
Since here was NO Lender XXXX XXXX from the beginning, all following fake sales are irrelevant. The loans were never sold because there was nothing to sell. The transaction is not booked as a loan receivable or as any receivable because everyone is paid off completely upfront 100 %.
I didnt know that I was dealing with undisclosed to me Investment bank who acted via XXXX XXXX XXXX XXXX XXXX who used XXXX XXXX XXXX XXXX XXXX who acted under glimpse of XXXX XXXX to pass me information about money which is based on the prior securitization with the property seller, in XXXX.
I was completely unaware of the reality of my transaction and the transformation from what I intended to what the investment bank intended.
I am not bound by consent to a transaction that was neither presented nor accepted by me since I knew nothing about it and it is still actively concealed from me, even though I requested disclosures many times.
If the banks wanted to propose a transaction in which I agreed to treat the extra-legal creation of a virtual creditor as though there was a real creditor with a real account receivable, then they should have said so. But they didnt and still lie to me about everything, including servicing by PennyMac who does absolutely nothing except allow to use their name.
But then they would have had to disclose the revenue generated from the real transaction and given me the opportunity to bargain for a piece of the pie.
Instead undisclosed to me XXXX XXXX XXXX dictated the terms of acceptance by hiding those terms from me.
Based on numerous responses from various Agencies, but no disclosures from PennyMac - question is whether the loan account receivable still exists or ever existed was answered. There is no loan account and never was a loan account.
XXXX XXXX and banks fabricate documents to enforce the promise I made to fake party XXXX XXXX- who was merely a cover up for a chain of sham conduits who always unable and unwilling to produce any original source evidence supporting the truth of the matter asserted that the debt or obligation exists.
The reason for this is that the plan was always to sell securities while pretending to loan money. Part of the plan was designed to convince ( i.e., mislead ) everyone into thinking that the securities were shares of debts and loans. They were not, and so the loans were never sold because there was nothing to sell. The transaction is not booked as a loan receivable or as any receivable because everyone is paid off completely upfront 100 %.
Since the sale of the securities is based on data relating to the transaction with me and the prior p owner instead of being shares of ownership in the transaction, there is no limit to the number of securities that can be sold.
The prior transaction was already paid off in full many times. And there is no current demand by the investment banker to collect money from itself.
XXXX and XXXX XXXX does not have any proof that PennyMac is an Issuer of XXXX XXXX XXXX ; or any information or documents which can prove that PennyMac owns or servicing any loans.
All so-called servicing activities,, including sending me billing statements for non-existing debt ; forbearance ; fake Modification and XXXX XXXX are prepared by other companies under leadership of XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX on sham conduits who merely use PennyMacs name on their letterheads.
XXXX XXXX ( owner of XXXX ) must stop his racketeering activities, and disclose to me how much money is owed to ME by undisclosed investment bank, refund all money illegally collected from me ; and remove illegal liens such as Mortgage with fake lender XXXX and illegal Assignment from my property Records.
This is also my Notice of Intent to Sue and demand to put legal hold on all documents related to my and the prior transaction.
When Companies facing litigation and regulatory or enforcement proceedings today, they must bear not only the enormous burdens of electronic discovery, but also the risk of increasingly expensive penalties for failing to preserve email and business records from the earliest possible moment after a dispute arises.
Charges and liabilities for aiding and abetting wrongful conduct. Faced with these challenges, its is essential that your Company issue litigation holds as soon as any type of formal legal proceeding is reasonably anticipated. Both, civil and Federal courts have held that the failure to design and implement an adequate litigation hold may constitute negligence. A recent example is XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX, XXXX XXXX XXXX ( XXXXXXXX XXXX XXXXXXXX ), in which a defendant was held in contempt of court for its failure to implement an adequate litigation hold. The court entered a default judgment and required the defendant to pay plaintiff 's costs and attorneys ' fees.
Please be advised that I place a litigation hold on all and any documents, including co-workers emails and employment decision documents. XXXX v. XXXX, XXXX XXXX XXXX, XXXX. You must preserve and retain all paper files and electronically stored information that is related to this matter. In the paragraphs below, I have outlined my recommendations for ensuring that all potentially relevant evidence is preserved.
I can not stress enough the importance of taking immediate actions to preserve this information as failure to take adequate steps to collect and preserve evidence, including electronic evidence, could result in severe sanctions being imposed by the Court for spoliation of evidence. I recommend that you take the following four steps to ensure that all date, including electronic date, is preserved : 1. You should agree on one person to take a lead in preserving all information potentially relevant to this matter. This person will insure that these steps are taken in their entirety, and that steps are not accidentally skipped because they all assume that the other is taking care of it.
2. You should develop a strategy for preserving ALL electronic data in your possession, including consulting an information technology specialist if necessary. You are required to preserve all electronic data, including but not limited to, emails, electronic documents ( such as documents created using XXXX XXXX XXXX XXXX, XXXX and the like ) ; data generated by calendaring, task management, and Personal Information Management ( PIM ) software ( such as XXXX XXXX XXXX XXXX ) ; data created with the use of document management software ; all data created with the use of paper and electronic mail logging and routing software ; all Internet and Web browser generated history files, caches and cookies files ; all electronic activity logs ; and employee personal e-mail accounts. You must preserve all potentially relevant data, regardless of whether it is contained on business or personal computer, Personal Digital AssistantsXXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX. If you automatically dispose of or recycle digital or paper files, digital back-up files/tapes ; or any other storage media ( possibly pursuant to a document retention policy ), I recommend suspending such program for the time being. We can then discuss which information should be preserved throughout the litigation.
4. If your document retention policy previously resulted in the destruction of electronically stored information that can still be reasonably recovered, please recover this information immediately. If it is possible to recover information for a significant period of time, please contact me to discuss the relevant period of time for recovery. Once you have had an opportunity to consider the points raised in this letter, please contact me to discuss this matter in greater details Regards XXXX XXXX
|
| 12/10/2018 |
Yes |
- Mortgage
- Other type of mortgage
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- Trouble during payment process
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Web |
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I thought that the mortgage company was my advocate and that the rules, contracts and documentation were in place to protect consumers like me, and my home- their investment. At every turn throughout this process I have trusted their expertise and have done what they instructed. I did not bring about this situation, but rather the mortgage company, due to their poor handling of this issue. I have done everything in my power to provide a safe home for my children and to hold on to this property that my husband and I worked so hard to buy. No one should lose life savings trying to save their home due to the practices of a fraudulent and deceptive contractor, and a mortgage lender who failed to properly assess the situation.
I purchased a foreclosure home over a year ago with a XXXX Loan. The construction costs were estimated at {$70000.00}. The hired HUD approved contractor, XXXX XXXX, stopped working on the house over 6 months ago with the house in very much worse condition than when he started. My husband and I have since borrowed approximately {$70000.00} to finish the work that the contractor did not complete and to repair the damage that he did to the home. The house is now habitable and we are living in it, but the hurdle we are presently facing and the reason I am writing is a dispute with the mortgage company. Despite being detailed in my mortgage contract the remaining {$30000.00} of the construction portion of the loan has not been released to us for construction cost or, applied to the principal of the loan.
Below I have laid out the progression of the situation over the last year and I have appended various documents that support and detail the situations noted. ( Reference document 1 ) The house was a HUD foreclosure and did not meet FHA guidelines. In order to purchase the home the only option was a XXXX renovation loan, we were approved and have our mortgage through XXXX XXXX XXXX XXXX. Shortly after closing the mortgage was sold to Penny Mac mortgage. They do not oversee the renovation and were unable to help me. Our contractor, XXXX XXXX, was HUD approved and upon being hired XXXX XXXX had us both sign an Owner and Contractor Agreement ( reference document 2 ). XXXX began demolition on the home and documented repairs he had made. However, these would later come to be found to be incompetent and erroneous ( reference document 3 ). For XXXX time and based on inaccurate documentation of work completed, XXXX was paid a total of {$30000.00} ( reference document 4 ) from the loan and we advanced him an additional {$11000.00} ( reference document5 ) Two inspections were completed in this time by the original HUD Consultant, who would later be fired for incompetence.
XX/XX/2018 XXXX XXXX the County Code enforcer inspected and determined that the electrical panel was put in by XXXX illegally and as a result the home would then have to go through a rough-in electrical inspection ( reference document 5 ). For this reason, the bank put a freeze on the renovation loan until the home passed the inspection. XXXX informed us that he did not have the funds for payroll or, materials to complete the necessary repairs to and said he would not return until he received an advance. We were advised by the mortgage company to do what was necessary to pass the inspection to move forward with the renovation. XXXX claimed that he needed {$11000.00} to complete this work so we took out an additional loan to cover the cost. XXXX returned to the home and partially passed inspection, but did not follow through with the work noted by the Code Enforcer. Upon these issues the mortgage company replaced the HUD consultant. Following this, we had two electrical engineers XXXX XXXX and XXXX XXXX, come to diagnose and inspect. It was found that there were multiple live wires in the wall and some of the new electrical work completed by XXXX was staged to look complete. Without success despite numerous and strenuous attempts to contact XXXX about these discoveries and further unsuccess through the HUD Consultant a decision was made with XXXX XXXX to complete an Exit Inspection and to move forward without XXXX.
The mortgage company advised me to return all the tools as well as, any construction material XXXX purchased, and to send him a certified letter that he was fired. Following this, I was informed by XXXX XXXX that the renovation was on hold until XXXX signed a letter verifying he had seen the Exit Inspection and was owed no further funds. This was completed and sent to XXXX XXXX ( reference document 6 ) We were unable to find another contractor that was willing to fix this work and start before the contractual deadline. On XX/XX/XXXX, XXXX XXXX indicated that we could hire tradesmen to do the work individually and we would reimbursed by the renovation budget after the passing of inspections that had {$41000.00} left after XXXX pay outs. My husband and I did this work and passed inspections to do so taking on {$50000.00} of debt. We have yet to see a reimbursement. XXXX XXXX blames this on a claim XXXX made to them of past and unpaid invoices despite the signing of Exit Inspection and verifying otherwise. XXXX XXXX encouraged us to fight this in the court system and freed part of the renovation budget to us, {$11000.00} to hire an attorney and do so.
We thought that once the right to lien period of six months had ended the remaining {$30000.00} ( less the {$11000.00} in attorney costs ) of funds would be released so that we could complete the work. When we talked to the acting bank manager XXXX XXXX after the period had ended, she advised us that this was not true and we would need to sue the contractor and win in order for the funds to be released. She stated that in the event XXXX sued in the future they had to protect their assets and hold on to the money so there was no chance of them being liable. Multiple attorneys advised us that the contract with the contractor, that XXXX XXXX provided, was neither valid nor, enforceable in Pennsylvania leaving us with no basis to successfully sue XXXX. The arbitration clause in the contract was also not enforceable, so we were advised that it was a costly and futile option. ( reference document7 ) Our attorney has sent a letter to the Pennsylvania Attorney General noting various circumstances of violations from XXXX including lack of criminal history disclosure violations of Pennsylvanias Home Improvement Act, pursuant to P.S. XXXX, incorporation issues and a detailing of far and wide negligent work that exceeds the electrical issues noted here ( reference document 8 ). The courts agree with our case and are working on a judgement in our favor, but there is no timeframe to a conclusion and therefore, we can not foresee a settlement of the {$30000.00} through XXXX XXXX.
At this point we have finished most of the renovation and the house is habitable. We were forced to move in because we could no longer afford two homes, even though there was no heat, and minimally functioning electric and plumbing. The courts are taking longer than expected and we can no longer afford our attorney. XXXX XXXX still holds hostage the {$30000.00} that is included in the total debt for the home that we pay a mortgage payment to every month without resolution of either crediting toward the mortgage or, reimbursing us personally. We have been informed by XXXX XXXX that we need to pursue this in the courts or, that they could hold the money indefinitely. This was not noted in any of our contract.
We are desperate. We have pursued this through every agency that we possibly could. We will gladly provide any additional information, emails, affidavits, witnesses, receipts, invoices, photos, videos, and detailed inspection reports. We are out of options and out of money. I am hoping you can help us resolve this in a timely fashion or, advise us of how we can find a resolution.
This lender apparently cares nothing about the people who entrust them with what is the most important purchase of their lives. With no legal proof or warning, they arbitrarily confiscated and held our funds. That they would allow someone to lose their savings, and potentially lose their home as well with no proven basis for withholding funding is outrageous. Despite the law being in our favor, they held our money without our consent and without any evidence of wrongdoing on our part. These actions lead to a spiral of disastrous events that are now irreversible. Every effect was the direct result of both the shady business practices of our contractor and incompetence on the part of our lender. I am not looking for a handout or nor do I think I am entitled to special treatment. However, given the circumstances, I ask you to take the time to go over the facts and objectively assess the situation. Was this fair, was this legal, and was this ethical? Thank you for your time.
Thank you so much for your time,
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| 11/20/2019 |
Yes |
- Debt collection
- Mortgage debt
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- Attempts to collect debt not owed
- Debt was result of identity theft
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|
Web |
Servicemember |
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Dear CFPB, Please find my complaint, QWR and Demand to Validate charges against PennyMac Loan Servicing, LLC ( PennyMac ) ( formerly XXXX XXXX XXXX XXXX ) a sham conduit for XXXX XXXX XXXX, for their relentless violations of every applicable law including but not limited to Fair Debt Collection Practices Act ; RESPA ; RICO Act ; Money Laundering Control Act 1956-1957, SEC Act ; IRS Pub. 938 ; XXXX XXXX 's MBS Guide ; UCC Art. 9 ; Michigan Statute of Frauds ; CA Statute of Frauds ; Fair Credit Reporting Act ; and many other laws.
PennyMac ( aka XXXX ) repeatedly harass me with unlawful collections of the debt without providing ANY evidence or any proof of VALUE paid by PennyMac to lawfully collect any debt from me ; or any evidence if this debt is exists after XXXX traded my identity on the open markets as their derivatives without my knowledge or consent..
When I submitted my original QWR and Debt Validation Demand in XX/XX/XXXX, PennyMac NEVER provide me any validation of debt and swamped me with absurd runarounds full of false, evasive and incomplete responses, while continues to extort revenue for XXXX XXXX XXXX ( XXXX ) under duress, which is a flagrant violation of FDCPA and RICO Act.
PennyMac impersonates as a " Buyer/Investor/Servicer/Issuer '' of securities which purportedly pooled with XXXX XXXX XXXX XXXX XXXX where my VA loan XXXX was purportedly placed between XX/XX/XXXX - XX/XX/XXXX.
Here are absolutely no record of Pooled Security XXXX with XXXX XXXX who publish its pools on monthly basis ; as well as on IRS Pub. 938. XXXX XXXX does not even use abbreviations " XXXX '' when they codify their pools.
When I ask clear and specific questions such as that is the NAME of the Trust where my loan is pooled as a XXXX XXXX XXXX ; that is this Trust Employer Identification Number to prove that I repay a debt to legitimate investors who pay taxes from profits ; when was this Trust 's closing date ; and where is a receipt for value paid by PennyMac for my debt - PennyMac 's representative XXXX submitted relentless lies and refused to disclose these public facts in violation of RESPA and Fed. R. 37 ( 4 ).
On XX/XX/XXXX XXXX XXXX XXXX acting under glimpse of PennyMac, during debt validation, sent me another Notice of Default and Intent to Accelerate my debt to XXXX XXXX , XXXX in the amount of {$1600.00} ( which I have to pay because XXXX racketeers use US Court system as a weapon to extort free houses as additional revenue for XXXX ).
I do not owe XXXX any money ; and I do not owe {$850.00} for XXXX even to legitimate XXXX XXXX 's investors ( non-existing ) because on XX/XX/XXXX Servicer-Impersonator PennyMac removed my force-place Flood Insurance and my monthly payments must be {$740.00}, payable to legitimate investors who paid value for my debt under UCC Art. 9.
Thus, XXXX try to extort from me additional {$100.00} illegal profits on top of tax-free revenue I pay them each month under glimpse of " repaying debt '' Moreover, XXXX charged me additional {$15.00} for " property inspection '', which is another extortion racket. First, neither XXXX or PennyMac have no rights to conduct any property inspections since they have no rights to my debt and never paid any value for it.
Second, I was never given any Notices of Inspection ; when this inspection took place ; who conducted this inspection ; a copy of this inspection report ; any receipts to prove that I owe {$15.00} for inspection - and to whom I owe.
Yet, XXXX and PennyMac expect that their fraudulent collection will be paid by me.
XXXX received a windfall trading my identity on the open markets and owes me at least 20 % from trades backed by my name and my signature on the loan purportedly with XXXX XXXX XXXX a fake Lender to cover for XXXX involvement in my loan.
My application was processed in California by XXXX XXXX XXXX ( formerly XXXX ) wholesale branch operated by XXXX XXXX, relative to XXXX XXXX, -co-founder of XXXX, who obtained funds from table funding by XXXX who get financing from some shady investors which are not attached to any loans. This is illegal practice which in XXXX resulted in {$16.00} XXXX lawsuit and fines on XXXX and XXXX, which they paid from {$1.00} Trillion bailout money given in part by me.
On XX/XX/XXXX XXXX assigned my loan to XXXX, a Trademark registered on XX/XX/XXXX by XXXX ( then XXXX XXXX. who merged with XXXX in XXXX ) who was never registered as a Corporation in Michigan. XXXX is currently an off-shore corporation.
From XX/XX/XXXX, or before I signed my loan backed by XXXX XXXX with whom XXXX never had any Agency relationship, XXXX is owned by XXXX XXXX, ( XXXX ), a former XXXX competitor. As its name implies ( and the job listings for XXXX ) it operates in several continents. It controls most of the worlds futures and securities exchanges and clearing houses, a well-known {$1.00} + Quadrillion Ponzi scheme.
According to filings by XXXX, the acquisition of XXXX would have no material impact on earnings. That is because XXXX was never intended to make a profit and probably never did. It was always a vehicle to advance plausible deniability of illegal conduct.
Whether the XXXX System exists on servers within the United States or is operated by people within the United States has always been an open question.
Now it appears as though the answer is NO. It certainly suggests some questions in discovery and XXXX legitimacy as a Mortgagee for millions of US homes, particularly in Michigan where XXXX registered its trade name in XX/XX/XXXX which expired on XX/XX/XXXX.
There is the dubious agency authority asserted by those who use the name of XXXX as though it was their own, on behalf of lenders or successors that were neither lenders nor successors to lenders, and is actually now the product of international finance controlled by offshore people and entities who could be anyone - from corrupt politicians to drug cartels.
Here was no disclosure in my XX/XX/XXXX RESPA ( altered by XXXX ) that XXXX ( whose Chairman XXXX XXXX is also a Vice Chair to XXXX XXXX XXXX who sold me a fraudulent Title Insurance policy in violation of all applicable laws ) since XX/XX/XXXX was an off-shore Corporation ( XXXX ) who never had any relationship with XXXX XXXX who purportedly holds my loan in their pooled security.
Calling XXXX a lender does not make it so because XXXX was not a Lender but an enabler for money laundering by questionable investors. Calling XXXX or PennyMac a successor is absurd unless ( a ) the original entity owned the debt ( b ) at the time that the original entity was acquired or merged with the successor.
I demand PennyMac to cease and desist their racketeering activity ; remove any adverse information from my credit report and provide me a FULL disclosure as requried by RESPA ; and a FULL validation of my debt as required by FDCPA.
I demand following information : 1. A Copy of XXXX valid registration with the State of Michigan. This is one page document and is not overly broad or burdensome to respond.
2. The Name of the Trust which holds my loan in XXXX XXXX 's pooled security XXXX. Please specify if this is a XXXX XXXX which PennyMac refused to provide.
3. This Trust 's closing date which PennyMac failed to respond.
4. Trust Employer Identification Number ( EIN ) which every XXXX XXXX 's Trust must have but PennyMac refused to respond.
5. Proof of this Trust filings with IRS Pub. 938, which must be done annually by any legitimate Trust but PennyMac refused to provide me a copy of Trust IRS filings for XXXX, XXXX, XXXX XXXX. Proof of publication of the name of the XXXX on XXXX website, as required by XXXX XXXX 's MBS Guide. As of today, XXXX, an offshore corporation owned by XXXX, never published any information related to XXXX XXXX 's Trust where my loan is pooled. PennyMac said its overly broad, which is a lie.
7. Proof of VALUE paid by PennyMac for my loan to be able to lawfully collect my debt. This is a mandatory requirement by UCC, which is a Federal law applicable to all States. This is not burdensome or overly broad request, and a proof of purchase is required for any legitimate transaction. Even XXXX demands customers to show their receipts when leaving the store. PennyMac refused to provide a receipt of their purchase, in violation of UCC 8. Please specify who sold my loan to PennyMac if XXXX claimed to be merely a Servicer without any ownership rights. Did XXXX sold my loan to PennyMac? Did XXXX XXXX sold my loan to PennyMac? This is not burdensome or overly broad question, and only requires the name of the Seller which PernnyMac refused to provide.
8. Copy of Inspection Report conducted by PennyMac on my property ; and a copy of the receipt for this report.
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| 08/01/2022 |
Yes |
- Debt collection
- I do not know
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- Attempts to collect debt not owed
- Debt is not yours
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Web |
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Complaint, QWR and DVR against XXXX XXXX XXXX, XXXX., their lawyer XXXX XXXX XXXX and PennyMac Loan Servicing , LLC ( former XXXX XXXX XXXX XXXX ) as the name provider in a sophisticated mortgage fraud scheme, false representation ; deceit ; and illegal clouds of Title.
I demand XXXX XXXX XXXX ( XXXX ) to RETRACT their illegal Affidavit on behalf of fake party PennyMac ; and provide mandatory disclosures as required under RESPA and FDCPA.
XXXX are debt collectors under FDCPA who are hired by allegedly Creditors to collect debts owed to others. The debts must be real, the creditors must be real and XXXX clients must be real. Moreover, XXXX are acting as Servicers who perform certain activities- not authorized by PennyMac but third parties who send XXXX instructions via secured websites or emails.
On XX/XX/2022 XXXX lawyer XXXX XXXX XXXX drafted an Affidavit on behalf of purportedly PennyMacs authorized representative XXXX XXXX located in Texas XXXX XXXX, at large, ( where PennyMac has no offices and authorized representative did not provided her actual position with PennyMac or her place of employment or her office address, or any other contact information.
According to lawyer XXXX, XXXX has some knowledge of the facts stated by XXXX, based on XXXX ' review of the alleged Mortgage ( which can be reviewed by anyone on the County XXXX ) obtained in conjunction (? ) with the origination or servicing of this alleged Mortgage. Origination and Servicing are two separate activities, while for some reason XXXX never mentioned the current OWNERSHIP of this alleged " obligation '' without which her actions are flagrantly illegal. The Note was not mentioned, and apparently not reviewed by XXXX.
This Affidavit is fraudulent and must be immediately removed from my property records since neither XXXX or fake Servicer PennyMac have absolutely no legal rights or authority to record it.
I am being victimized by a scheme that involves false impersonation and false agency on claims that do not exist. I am receiving correspondence and notices on PennyMacs letterhead on various matters, as well as various filings with PennyMacs name on it but it is apparent from my research that PennyMac does not have any knowledge of these notices or filings, has not authorized them and did not send them.
Moreover, the alleged owner of my alleged loan XXXX XXXX officially denied any knowledge about my transaction starting from XXXX XXXX XXXX XXXX XXXX and has no records about any origination, or servicing of my alleged loan which is also can not be found by anyone, including PennyMac who merely rents its name to undisclosed to me parties who actually facilitate all servicing on behalf of unknown to me XXXX Bank XXXX
XXXX XXXX XXXX XXXX XXXX who purportedly receive my payments from Servicer PennyMac, deny its involvement in any of these activities.
My home XXXX XXXX, XXXX XXXX, removed PennyMac from my home insurance policy as additional insured after PennyMac failed to validate its right to be on my policy.
Credit Agencies removed PennyMac from my credit report, along with other scammers-for-hire XXXX XXXX, XXXX XXXX a fake `` Lender '' who never loaned me or anyone a cent and who was not even involved in my transaction - other than the name holder. Everything was done via XXXX XXXX 's website where XXXX provided me a passcode. The same XXXX XXXX hires lawyers to present false claims to homeowners and Courts, including XXXX lawyers Further, the notices and correspondence make reference to some nonexistent claim that I made regarding some nonexistent transaction. However, PennyMac has given permission to undisclosed third parties ( XXXX companies such as XXXX XXXX XXXX XXXX, XXXX who actually send instructions to XXXX ; XXXX, XXXX who prints and sends me billing statements and all other correspondence on PennyMac 's letterheads ( proof available ) ; and XXXX XXXX, XXXX who actually collects my money via lockbox agreements with XXXX and XXXX XXXX and forward them to an undisclosed to me XXXX bank via mafia-style money laundering operation. All of them use PennyMac name to cover their illegal activities, including drafting and filing this Affidavit on XX/XX/2022 which was supposedly returned to XXXX, who act in unknown to me capacity.
PennyMac are being paid for this license to use their name for a fee, as well as XXXX since I doubt if lawyer XXXX actually drafted it Attached are exhibits showing this pattern of conduct involving the use of the PennyMacs name in many instances with me. All these letters were prepared and sent by XXXX, XXXX and XXXX XXXX XXXX XXXX who rent XXXX XXXX XXXX under PennyMacs name on it.
To be clear, no unpaid loan account or any account receivable due from me exists on the books of any creditor/claimant.
None of the disclosed parties has any authority to administer, collect or enforce any obligation from me ; or file any documents on behalf of this fake Servicer while lawyer XXXX ir XXXX do not even know who hired them since all instuctions are forwarded to them by secured website operated by XXXX XXXX XXXX XXXX ( formerly XXXX XXXX XXXX XXXX XXXX ).
All parties who were involved in any transaction involving me as a promisor or maker under a note have been paid in full or otherwise satisfied in full. None of them claim any underlying obligation or legal debt owed by me except through false agents claiming to represent other actors, who falsely claim the third parties own a debt due from me.
Attempts to obtain an acknowledgment from such falsely named creditors have been rebuffed, meaning that they know the claim is being made, but they refuse to acknowledge that it is being done with their permission.
I have contacted hundreds of other homeowners who have experienced the same scheme. This needs to be addressed before more of them agree to " settlements '' on claims that do not exist. They do so out of ignorance, fear, intimidation, and exhaustion.
The perpetrators of this scheme have endlessly deep pockets. It resembles other scams like sending out false invoices to businesses in amounts under the threshold for researching the invoice 's validity. The businesses pay because it is less expensive than either rejecting the invoice or researching it.
This is precisely within CFPB mandate to investigate and prosecute false claims that use the USPS. And it is right that CFPB should do so. Forcing individual consumers to litigate these issues is putting an unconscionable burden on them -- - spending tens of thousands of dollars in litigation fees and costs is simply impossible for most of these victims.
Since XXXX joined this illegal team of Servicers and Debt collectors I demand from them following disclosures : 1. XXXX XXXX must confirm, via XXXX signed Affidavit, that she personally drafted attached Affidavit filed with XXXX XXXX XXXX XXXX office on XX/XX/2022.
2. XXXX and lawyer XXXX must specify that relationship she and XXXX have with PennyMac and in which capacity she drafted this Affidavit and for whom. She must identify every natural person, its name ; place of employment, position with the Company ; and contact information who hired lawyer XXXX and who authorized her to draft and file this Affidavit with XXXX XXXX XXXX XXXX and why this Affidavit must be returned to lawyer XXXX.
3. XXXX XXXX must disclose the METHOD how this natural person contacted her and provided her information she stated in the Affidavit.
4. XXXX XXXX must disclose that she is going to do with this Affidavit after she received it from the Recorders office 5. XXXX XXXX must provide a proof of authority such as XXXX signed letter from PennyMacs ( or other companys responsible employee ) as well as when and where XXXX and its lawyer XXXX were hired to draft this Affidavit 6. PennyMac and lawyer XXXX must provide full position of Authorized Representative XXXX with PennyMac and her employment address and direct phone number with PennyMac.
7. XXXX XXXX must respond to this Complaint and disclose how exactly she obtained knowledge about facts stated in the Affidavit ( does she perform any accounting activities or involved in any administration of this alleged transaction? ). She must provide me her direct phone number and office address, so I can contact her in person about her knowledge of the facts 8. XXXX XXXX must provide me a copy of the accounting ledger along with name and contact information of a natural person who is authorized to conduct administration of my alleged loan I reserve my right to follow up on this Complaint, QWR and DVR. In the meanwhile, this fraudulent Affidavit must be removed from my property records since it is illegal clouding of Title by non-authorized parties.
Best regards XXXX XXXX
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| 01/25/2021 |
Yes |
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- Trouble during payment process
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Web |
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In XX/XX/XXXX escrow analysis Penny Mac entered incorrect increase of my hazard insurance amount from {$3100.00} to {$8700.00}. This caused an increase in my monthly mortgage payment from {$1100.00} to {$1600.00} effective XX/XX/XXXX. This mistake was not noticed until XX/XX/XXXX.
Due to COVID I went on forbearance and missed payments for : XXXX, XXXX, XXXX, and XX/XX/XXXX. Missed payment amounts were incorrectly calculated as such : XXXX {$1100.00} XXXX- {$1600.00} XXXX {$1600.00} XXXX {$1600.00} Escrow analysis : attempt to fix hazard insurance/monthly payment On XX/XX/XXXX and XX/XX/XXXX escrow analysis was performed to correct the hazard insurance amount from {$8700.00} to {$3100.00}. New monthly payment reflected on these escrow analyses was {$1100.00} I was later informed by a supervisor that due to the correction ; I now had an Escrow deficiency of {$1700.00}. This deficiency as explained was due to the fact that in order to correct the mortgage payments the supervisor had to back date the information to XX/XX/XXXX. This attempt at correcting the mistake created an escrow deficiency and a new mortgage payment in the amount of {$1200.00}. This was a different amount from the {$1100.00} as shown on the XX/XX/XXXX and XXXX/XXXX/XXXX escrow analysis. It was explained to me that my options were to pay the escrow deficiency in full or pay the {$1200.00} over a 12-month period. This was the only way to have correct monthly payments and correct amount on my partial claim. I paid the {$1700.00} in full on XX/XX/XXXX. With this payment in full, my monthly payment would remain as {$1100.00} until XX/XX/XXXX. This of course would prove to not be entirely accurate.
Escrow error : The escrow shortage of the {$1700.00} is for the months that mortgage was not paid. By paying this shortage in full, Ive met my escrow requirement in full for the missed months. Why then is it that the ESCROW part of the monthly payments for the 4 missed months is being added to the back of the loan? Only the PRINCIPAL/INTEREST portion of those 4 months would be outstanding. PennyMac would be collecting escrow twice. ( once from me and again in the partial claim payment from HUD ). When this question was presented to the representative, I was informed that during a forbearance no outstanding escrow was to have been collected. I was also informed that this money would be returned to me once the modification was completed. This again was incorrect Partial claim error : My first partial claimed showed that I owed {$6500.00}. I did not agree Second partial claim showed {$6500.00}. I did not agree. The amount reflected was calculated at incorrect mortgage amount of {$1600.00} x 4missed months.
Third Partial claim was for {$4800.00} which reflected as 4 missed monthly payments : Month 1- {$1100.00} Month 2 - {$1100.00} Month 3- {$1200.00} Months 4- {$1200.00} I did not agree with the amount for months 3 and 4 being that the escrow deficiency was paid in full. The monthly payment should have been reflected as {$1100.00}. I eventually signed the partial claim document in the amount of {$4800.00} because it was explained to me that another escrow analysis/redrawing the partial claim documents would not be in my favor. Once modification was closed my escrow payment would be returned to me so I accepted.
I was also informed that until the modification was closed and my loan made current, I would have to continue paying the incorrect monthly payment amount of {$1200.00}. I was informed that once the modification proceeding was closed, I was to request an escrow analysis because it would reflect excess money owed to me due to paying {$1200.00} monthly instead of {$1100.00} ( this is {$140.00} more monthly than agreed ). I find it unreasonable that PennyMac collected my escrow shortage in full but then ask me to cover for their mistake by paying higher monthly payments of {$1200.00} instead of {$1100.00} with the promise that money would be returned to me. With payments of $ XXXX {$540.00} goes to escrow, with payments of $ XXXX {$680.00} goes to escrow. My escrow should reflect the overage.
With no resolution in sight, I resumed making monthly payments in the amount of {$1200.00} starting XX/XX/XXXX.
Payment record for XXXX : XXXX {$1100.00} XXXX {$1100.00} XX/XX/XXXX- {$1100.00} XXXX XXXX XXXX XXXX XXXX {$1100.00} XXXX XXXX {$1100.00} and {$1700.00} ESCROW XXXX {$1100.00} XXXX {$1200.00} XXXX {$1200.00} *** ( XXXX payment of {$1100.00} went to cover XXXX missed payment of {$1100.00} ). I was not short any money on this payment because the new payment change to {$1100.00} effective date was XX/XX/XXXX ) It was explained that PennyMacs method is to use the most current paid month and apply it to the first missed month as illustrated in the diagram. With this in mind, whatever 4 months remained outstanding, the monthly payments should be accurately calculated at {$1100.00} X 4 months. My outstanding balance should be at an estimated {$4500.00} with the escrow payment of {$1700.00} returned to me.
Modification error contd.
I was contacted on XX/XX/XXXX by PennyMac and told that I now owed an additional {$1800.00} on top of the signed partial claim amount for {$4800.00}.
I was told that my only options were to pay the {$1800.00} in full and have the {$4800.00} added to the back of the loan, OR have new partial claim documents drawn in the amount of {$6700.00} because HUD will not be paying on my partial claim, OR pay the {$1800.00} now and then have escrow try to correct the mistake with the promise of getting my money back again. I do not know where the additional {$1800.00} came from because no one has been able to account for, or explain this new shortage.. PennyMac continues to force me to pay shortages while on forbearance. This is unacceptable and against PennyMacs own forbearance policy.
***I was also told that I paid the incorrect amount for XX/XX/XXXX. I paid {$1100.00} instead of {$1200.00}. This is the amount I was told to pay by the representative who took the payment over the phone on XX/XX/XXXX. I was concerned about this amount due to past conversation. It had been about 2 months since signing/notarizing partial claim so I asked if the figure was as a result of the partial claim being finalized. I was informed that yes, sometimes part of the partial claim is completed while other parts may still be updating, but {$1100.00} is what the system is showing. Wait until about Monday and your online account access should be updated to reflect modification being off your account. she annotated the account to reflect my concerns.
Let me reinforce- without all of PennyMacs mistakes, my monthly mortgage payment is, and will remain {$1100.00} up until XX/XX/XXXX. I was not short on XX/XX/XXXX payment. All payments ever made in the amount of {$1200.00} was done so with a guarantee of the overage being refunded to me once partial claim was completed. Not sure how this will affect me moving forward or what is the correct amount to pay because I paid the {$1200.00} under the guidance of PennyMacs representatives that money would be returned, but now PennyMac is reporting another shortage. I should not have to continue to pay incorrect amounts in order to cover for PennyMacs mistakes.
Every representative with whom Ive spoken to have all been able to identify mistakes on my account, but yet insist that it is not within their ability, or their computer softwares ability to correct it. I get transferred around from one department to another, from one supervisor/lead to another. Numerous incorrect recommendation and advice. Ive spent up to 3 hours on one phone call explaining the errors with promises that they will look into it and call me back which has not happened. It has been almost a year long process and still there is no resolution in sight The advice is always to pay additional money in order to correct the mistake with the promise that escrow will then update my account and I will have an escrow overage which I will be able to use at my discretion- ( request refund check or apply excess monies to monthly payments ). I was told this with : the escrow shortage payment {$1700.00}, the incorrect monthly payments of {$1200.00} instead of {$1100.00}, and now again with the requested payment of {$1800.00}.
I am also very concerned that PennyMacs incorrect calculations will affect my XXXX Federal Income Tax Filing as you will be reporting incorrect figures for XXXX.
still no resolution to date.
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| 03/22/2023 |
Yes |
- Debt collection
- I do not know
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- Attempts to collect debt not owed
- Debt is not yours
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Web |
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RE : PennyMac Corp. Violation of the Consumer Financial Protection Bureau XXXX False, deceptive, or misleading representations XX/XX/XXXX XXXX XXXX XXXX, On XX/XX/XXXX, XXXX XXXX, ( herein XXXX XXXX ) Priority Complaint XXXX, XXXX XXXX XXXX XXXX, made the following statements : 1. PennyMac respectfully declines your request for a copy of the wire transfer ; 2. Please note, the XXXX XXXX Report confirms that the ownership of your loan was subsequently transferred to XXXX XXXX on XX/XX/XXXX ; 3. Unfortunately, our response letter dated XX/XX/XXXX, incorrectly stated that the owner/investor for the above referenced is PennyMac Corp . Please allow me to clarify that the owner/investor for the above referenced loan is XXXX XXXX ; 4. In providing this response, PennyMac is not limiting or waiving any rights or remedies it may now or hereafter have, whether arising under the loan documents, at law or in equity, all of which rights and remedies are expressly reserved ; 5. In accordance with the Real Estate Settlement Procedures Act ( RESPA ), you have the rights to request documents that we relied upon in reaching our determination ; 6. In accordance with the Fair Debt Collection Protection Act, 15 U.S.C. section 1692 et seq., debt collectors are prohibited from engaging in abusive, deceptive, and unfair debt collection efforts ( i ) the use or threat of violence.
PennyMac now admits that XXXX XXXX owns the mortgage as of XX/XX/XXXX, which means that PennyMac does not have any beneficial interest in the Note. It is unclear as to how PennyMac became a debt collector and can enforce a Note that PennyMac clearly does not have.
PennyMac has failed to demonstrate that PennyMac is a payee and therefore can not be construed as a debt collector. PennyMac must cease and desist all collections but will not considering all of the tools in which PennyMac has at PennyMac disposal.
Blacks Law Dictionary Seventh Edition Payee payee. One to whom money is paid or payable ; esp., a party named in commercial paper as the recipient of the payment.
A copy of PennyMac letter dated XX/XX/XXXX is attached herein as Exhibit 1 CONCLUSION a. XXXX XXXX, can not provide a copy of the actual wire transfer simply because PennyMac Corp., does not own the mortgage and therefore, PennyMac Corp. is committing FRAUD by falsely alleging to be a debt collector, in violation of the CFPB 1006.18 ( a ) ( b ) ( 1 ) ( ii ) ( iv ) ( 2 ) ( i ) ( ii ) ( see line 2 ) ; b. XXXX XXXX, finally admitted that he had committed perjury on XX/XX/XXXX, when XXXX XXXX falsely stated that PennyMac Corp. was the owner/investor. XXXX XXXX goes on to clarify that the owner/investor for the above referenced loan is XXXX XXXX However , the FBI and the District Attorney in the state Texas has evidence in which does not reflect XXXX XXXX as owner/investor but uncovered detailed FRAUD.
FBI Priority Mail XXXX XXXX XXXX XXXX XXXX XXXX and District Attorney XXXX XXXX XXXX XXXX XXXX XXXX.
c. PennyMac goes on to say, PennyMac is not limiting or waiving any rights or remedies it may now or hereafter have, whether arising under the loan documents ; in violation of the CFPB 1006.18 ( 3 ) ( c ) ( 1 ) ( 2 ) ( 3 ) ( 4 ) ( d ) ( see line4 ).
d. XXXX XXXX goes on to say, In accordance with the Real Estate Settlement Procedures Act ( RESPA ), you have the rights to request documents ( see line 5 ). However, when I asked PennyMac Corp., for a copy of the actual wire transfer that PennyMac used on the purchase of my home XXXX XXXX responded, PennyMac respectfully declines your request for a copy of the wire transfer. PennyMac violated RESPA by denying me a copy of the actual wire transfer. PennyMac violated CFPB 12 CFR Part 1024 - Real Estate Settlement Procedures Act ( Regulation X ) e. XXXX XXXX letter goes on to state, In accordance with the Fair Debt Collection Protection Act, 15 U.S.C. section 1692 et seq., debt collectors are prohibited from engaging in abusive, deceptive, and unfair debt collection efforts ( i ) the use or threat of violence in violation of the CFPB 1006.18 ( 3 ) ( c ) ( 1 ) ( 2 ) ( 3 ) ( 4 ) ( d ) PennyMac Corp. actions are abusive, deceptive, and fraudulent simply because neither XXXX XXXX or PennyMac is the owner/investor of the mortgage and therefore based on the 147 documents in which the FBI and the District Attorney in the state of Texas are currently investigating. PennyMac Corp. can not be construed as a debt collector simply because it is unclear as to who PennyMac is collecting the debt for.
The elephant in the room here is clear. Even if you were to assume that XXXX XXXX was the owner/investor of the loan ( and there is evidence in which to reflect that XXXX XXXX is not ) common sense would tell you that there are a group of investors that invested in the loan and not one individual Company.
That would mean that each investor that invested in the mortgage owns a certain percentage of the mortgage as the owner/investor of the mortgage. That is to say that XXXX XXXX does not own the entire loan and that each one of the investors owns a small percentage of the loan at best. What this means is that PennyMac Corp., can not be a debt collector on behalf of XXXX XXXX simply because XXXX XXXX does not hold enough beneficial interest in the loan and the Note no longer exist according to the SEC. According to the evidence in which is in the hands of the FBI and the District Attorney in the state of Texas it is obvious that XXXX XXXX does not have any beneficial interest in the note at all. The obvious question now is on who behalf is PennyMac Corp., collecting the debt for? Clearly, this debt is not mines.
PennyMac Corp., can not produce the Note with Allonges simply because if PennyMac Corp., does PennyMac Corp., would risk numerous lawsuits brought against PennyMac by the investors in the trust. The Note must remain in the trust for a period of Thirty ( 30 ) years ( the investment cycle ) and is not tied to one ( 1 ) loan according to the SEC.
The investors have invested in numerous loans and do not own one ( 1 ) individual loan. The reason for that is simple. If an investor invest into one loan and that loan goes into default, that investor risk losing all of his/her investment. That is to say that XXXX XXXX does not own any loans. XXXX XXXX received its payment in full from the investors in the trust. PennyMac then comes in and commits FRAUD for a loan that does not exist.
This is further evidence that PennyMac Corp., is not a debt collector simply because there is 147 pages of documents that are currently being investigated by the FBI and the DA in the state of Texas reflects that a debt does not exist, but I can not reveal anything in regard to the investigation.
PennyMac creating this fraudulent account in my name, an account in which PennyMac lacks standing in which to foreclose on because PennyMac can not establish standing in which to do so.
What PennyMac will attempt to do, is effectuate a foreclosure in the name of XXXX and attempt to effectuate a foreclosure on the Deed of Trust from what the FBI had told me because XXXX is listed on the Deed of Trust. But the state of Texas sued XXXX for the same reason and it was determined that XXXX lacked standing.
If there was a loan then PennyMac would effectuate a foreclosure in the name of PennyMac and PennyMac can not simply because the debt is not mines.
In all actuality there was over 147 pages of documents recovered. Only 147 pages was needed for the investigation, and I had five business days to submit them and was able to submit them in three days. PENNYMAC CORP., IS NOT A DEBT COLLECTOR AND THE DEBT IS NOT MY DEBT.
Anyone reading this post and are having trouble with PennyMac, please contact your local FBI and Attorney General. The Attorney General in your state can not represent an individual but can represent a group of individuals.
When the state of Texas sued XXXX, they sued on behalf of a lot of individuals who lost their homes. I am not in default and am acting in good faith in an attempt to get PennyMac to do the right thing before this goes public to the media. I am going to allow the FBI and the DA to do their job and if I can get their permission, I will take it to the media.
Sincerely, XXXX XXXX XXXX.
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| 12/02/2021 |
Yes |
- Mortgage
- Conventional home mortgage
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- Struggling to pay mortgage
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Web |
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My complaint is more geared towards lack of informing mortgage holders about not qualifying for any assistance for deferment of the COVID forbearance amounts if you've had a modification. In addition to the complete lack of communication/improper communication.
We requested a modification in XXXX. Our three trial payments were XX/XX/XXXX, XX/XX/XXXX, and XX/XX/XXXX. Once the trial payments were completed the new modification amount was supposed to be XXXX per month. We never received a document confirming the trial payments were completed and our modified payment amount was now the new amount moving forward. In addition to the amount that was supposed to be put to the end of the loan from the modification was never done according to our statements.
XX/XX/XXXX we enrolled in the COVID forbearance plan and received a letter dated the XXXX confirming approval and that our mortgage was in forbearance. Each one of our statements reflects the modified mortgage payment was not the amount being calculated through the forbearance, they continued to calculate the previous mortgage payment amount.
During our forbearance we received letters in bold print underlined stating at the end of our forbearance the amount owed would not all be due at once. No other statements made anywhere else on the document indicating there were any disqualifying factors or depending on the type of mortgage you held.
We received a letter stating the forbearance was over XX/XX/XXXX. When that date came around we hadn't received any communication as to what was next and what we were supposed to do from this point moving forward. I was worried and reached out to see what was next?
When I contacted PennyMac I was advised a {$1400.00} payment had to be made to qualify to have the deferment for the COVID balance. Advised I would call right back when my wife was home from the store to double check we could proceed. I called back about an hour later and scheduled the payment. After we setup the payment the system wouldn't allow the representative to complete the deferment process and stated our loan didn't qualify.
After speaking to managers and the managers reviewing the account they stated we didn't qualify due to a missed payment. I took some time to review my mortgage account and called back to advise our trial payments were completed and we didn't miss a payment. Also to advise we never received notice about the modification trial payments being completed even though they were done.
PennyMac advised they could see the modification completion document. I advised I never received it, it is not available to view on my portal with all other notices or statements as I went through every one of them. My modifications documents completed in general were not viewable online at all. I had to request a copy be issued of anything pertaining to the modification.
PennyMac now stated because we had a modification at all we do not qualify for the deferment and are responsible for interest on the COVID forbearance amount.
1. ) When we enrolled into the COVID Forbearance nobody from PennyMac ever advised that if we did proceed at that time we would not qualify for a deferment and our modification would end. We also would never qualify for another modification either.
2. ) Even though the rep was stating she could see the document advising it was complete that I never received. They still charged the normal amount during the forbearance and didn't finalize the process.
3. ) They rep advised the amounts calculated during the COVID forbearance was calculated at the {$1300.00} modification amount but my statements clearly show how much was charged monthly and that is not the amount. So if that's true then my statements are also wrong.
4. ) I asked the representative why they never advised that something like this could happen and why they sent us letters saying the exact opposite? The response was " we didn't know what we would require '' but yet the expect for us to immediately be responsible to pay a {$30000.00} amount or lose our home. The other option they advised was paying {$22000.00} and they'll spread the rest over six months on top of our regular payment. We found that out. after the 4th phone call to them. Which isn't even reasonable or a for sure thing according to them.
5. ) We applied for a modification of some kind as advised by their representative. In the request we stated we could surly pay the {$30000.00} in payments over a 12 month period while doing our regular payments. Which is more than reasonable with all circumstances surrounding this situation. I advised them we have XXXX children in the home and my mother in law who just had XXXX XXXX XXXX. That we would have nowhere to go. We tried negotiating something with them to work anything out, they not only declined out request but didn't give a care in the world and made no effort to resolve this issue at all.
6. ) We received a digital appraisal from them due to sending the modification application. It states in accurate information about the property listing it at only XXXX acres when we have XXXX. Even though the appraisal still came back way higher than owed. I contacted them to advise them that our property information was not correct, they never corrected it at all in any way shape or form.
7. ) The notice shows the COVID Forbearance ending XX/XX/XXXX. Another notice was not sending to customers until XX/XX/XXXX providing " what's next '' Information. Why are they issuing out a notice a week later than when customers first resuming payment would be due, in turn making the customers late since they would have no clue. Some of the options listed can also take an extended amount of time to process and be approved for. This should have been issued no later than a month prior to the COVID Forbearance ending.
8. ) PennyMac and XXXX XXXX are not providing any notice of any kind to mortgage holders on what to expect and not enough notice to any customer to have time to apply for assistance before a Foreclosure would be filed. So many families are going to be foreclosed on because the way they're handling this. XXXX XXXX has also allowed customers up to 3 modifications with one home loan, but yet they're doing this with ours.
I'm reaching out hoping that this isn't happening to other families and that someone can step in before a lot of families lose their homes due to the lack of and poor communication. I have felt like I've had to harass them and pry any information from them.
Our home is XXXX acres XXXX sqft XXXX bedroom and XXXX. In the last year alone our property has jumped in value 3x 's what it's financed for. By foreclosing on our home they would stand to easily double ... .. possibly triple the amount of the outstanding loan amount and turn a profit. It's coming across as they don't want to intentionally work things out with the way everything has been handled. Why have they offered other mortgage holders up to 3 modifications but never completed ours properly, didn't provide proper advisement, and refuse to make any attempt at resolving the issue.
We also have a HUD approved counseling agency that's been engaged, she is just mind blown with how our loan has been handled. We've been working with XXXX XXXX with XXXX in XXXX XXXX, Ohio.
How many customers were in a modification when our country shut down that are now getting foreclosed on because of it? There's no way anyone could've foreseen this circumstance and this is not something that should disqualify a mortgage holder putting a family out of a home.
I advised the XXXX payment they're not reflecting and referring to as late shows on my bank statement. I'm awaiting my banks reply to obtain the ACH confirmation number to compare at this time. PennyMac advised me to upload it in the message center to avoid them from proceeding with any action. However their online system is not functional to allow uploads as of today.
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| 05/02/2019 |
Yes |
- Debt collection
- Mortgage debt
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- Attempts to collect debt not owed
- Debt was result of identity theft
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Web |
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On multiple occasions i have asked PennyMac and XXXX XXXX to provide me an original contract agreement whereas they are the Lender Servicer and i am the borrower. They have failed to do so for the past XXXX months. XX/XX/XXXX, i asked for a copy of the check from where the payment was coming from, the notary said he had no idea of this information and went and got the secretary. The secretary said that she would look into it. She came back XXXX minutes later and said that she couldn't verify that information at the time but would email me that information so i gave her my email, she never responded. The documents presented by PennyMac and XXXX XXXX are altered and modified Deed Of Trsut and Mortgage documents. They have recreated the original loan and made a new loan with a new loan number [ XXXX ]. This original loan [ No. XXXX ] was with XXXX XXXX XXXX and was paid by way of my XXXX XXXX account. Thus is a change in title, and a new title was recorded without me being present on XX/XX/XXXX. The loan number changed as of XX/XX/XXXX. This is why they recreated loan documents well after XX/XX/XXXX, again after XX/XX/XXXX. The Note was altered and has a stamp over the original date in the left top corner. I have shown proof of my wire funds and the tender of payment but they have failed to do so over the past XXXX months. Neither PennyMac nor XXXX XXXX appeared before XX/XX/XXXX.
XXXX of funds between escrow accounts. ( XXXX XXXX ) 1.A transfer of funds between escrow accounts may not be accomplished by the making of book entries alone but must be accomplished by : ( a ) The wire transfer or writing of a check from XXXX escrow account to the other ; and ( b ) The deposit of a check or wire transfer or other form of authorized transfer that is acceptable to the depository institution for the account of, and the writing or electronic generation of a receipt for, the escrow account to which the funds are being transferred.
2.A transfer between escrow accounts must be properly supported and documented in the escrow records including, without limitation, the reasons for and the appropriate approval of the transfer. ( Added to XXXX by XXXX XXXX XXXX XXXX by XXXX, eff. XXXX ) As stated by XXXX of the Credit Bureaus on XX/XX/XXXX and i quote " According to our system, on several occasions in XXXX and XXXX, an investigation was initiated into the XXXX XXXX XXXX # XXXX account per your requests. In response to the investigations, the disputed information was verified or updated accordingly and the results were forwarded to you for review. Please note that we have reviewed your credit file and determined that all investigations were performed in accordance with all applicable laws, policies, and procedures, and the results were sent to you in a timely manner. We store information in our records as it is supplied to us by creditors. What information has PennyMac or XXXX XXXX reported as creditors. According to XXXX XXXX XXXX XXXX the Transfer of funds between between escrow accounts may not be accomplished by the making of a book entry alone but by wire transfer or writing of a check from XXXX escrow account to the other when i XXXX XXXX XXXX demanded a copy of the check and proof of funds the Title escrow company stated that they did not have a check nor a wiring account information that day of the alleged transaction stated by the secretary and i wont mention her name. Rather XXXX states what i have been demanding since day one, i was making sure the funds didn't come out of my infant trust account.
Now according to XXXX XXXX XXXX XXXX XXXX : Effective XX/XX/XXXX, the State Of Nevada enacted good Funds legislation [ NRS 645A ]. The law states that for escrow to close, the buyers closing funds must clear the bank. In order to comply with the new law and close your transaction timley, XXXX XXXX XXXX would prefer all closing funds be tendered TENDERED our office by interbank electronic wire transfer. Please contact our XXXX if you have questions regarding this change in our industry.
This includes coupons or Checks from a government agency or municipality, as stated by PennyMac they don't accept Coupons or checks from government agencies when this is false. They do and they must by Federal Law State Law and the Law of 1933 ACT.
As stated by PennyMac in their earlier writings i attempted to settle the alleged debt with a XXXX XXXX but PennyMac lied and said they couldn't accept the XXXX XXXX but according to NRS Law they do. XXXX XXXX : Requirements for deductible. ( XXXX XXXX XXXX ) A XXXX XXXX required by XXXX XXXX XXXX contain a deductible if the escrow agency deposits with the Commissioner a XXXX XXXX or substitute form of security satisfactory to the Commissioner in the amount of the deductible. ( Added to XXXX by XXXX XXXX XXXX XXXX by XXXX, eff. XXXX ) This is fraud and false. It seems as if the credit bureaus are more in favor of the alleged creditor rather than the consumer so i have prepared this complaint in full.
On XX/XX/XXXX i asked the persons of the XXXX XXXX to provide me with a copy of the check whereas the funding for the purchase of my home was to come from. They failed to respond. On XX/XX/XXXX i followed up with an email thereto XXXX for the title company. She failed to respond. On XX/XX/XXXX i responded to their none response as to where the funding came from in a formal and legal letter. Made public record on XX/XX/XXXX. Whereas at this time the debt was disputed for no one could answer where the debt came from who owned the debt and how the debt was funded. Therefore the debt is disputed in full by law.
XX/XX/XXXX made public, i served all parties claiming to be the creditors which are many listed as XXXX XXXX XXXX, XXXX XXXX, XXXX XXXX XXXX including PennyMac and XXXX XXXX. None of the parties responded thereto the Certificate of Administrative Judgement. In fact none of the alleged verification or validation has any notary nor in a Affidavit format. The Nevada Homeowner Bill of Rights ( NHBR ) is a law that protects Nevada homeowners from illegal foreclosure practices. ... The NHBR also requires that the mortgage holder give certain documents to the homeowner, bans dual tracking, and compels the lender to have a contact person that the homeowner can speak with. Neither a Notice of XXXX nor a Judicial Foreclosure shall be initiated unless and until the mortgage servicer shows, through documented proof, that it holds the beneficial interest and has the legal standing to foreclose on the property. PannyMac and Fannie Mae failed to provide the a. proof of funds wire or check b. Lender information for both claim to be the lender on XXXX different letter heads c. Neither has shown that it holds the beneficial interest and has the legal standing to foreclose on the property.
d. Neither can prove that XXXX XXXX is not the party in interest Aka the lender and that the funds came from her Trust or infant trust account.
e. The note clearly says the original lender was XXXX XXXX XXXX so how did PennyMac acquire a loan from XXXX XXXX and sale it to XXXX XXXX? this has never been answered at all.
Rather i XXXX XXXX have not herd from PennyMac nor XXXX XXXX and have mailed documents showing the identity theft by way of a newly created loan with a new loan number which was created on XX/XX/XXXX which is XXXX XXXX days later. They will have to due a Judicial foreclosure due to the fraud reported to the local police and the FTC. Now on the CFPB site i am requesting arbitration and if such does not take place ill file in court venues until this is satisfied to my liking. Pennymac is simply attempting to extort a XXXX year old XXXX XXXX XXXX whom has given them opportunities and due process for the past XXXX months.
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| 02/01/2022 |
Yes |
- Debt collection
- I do not know
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- False statements or representation
- Impersonated attorney, law enforcement, or government official
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Web |
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Complaint and QWR to PennyMac and XXXX XXXX XXXX XXXX Dear CFPB, On XX/XX/2022 I received an overnight XXXX letter from XXXX XXXX ( likely fictitious name ) which contained electronically signed letter from PennyMacs senior lawyer XXXX XXXXOn ( in lower letters ) who confirmed that PennyMac is a Servicer and who urged me to sign flagrantly fake VA Modification and even more fake VA Partial Claim mailed by the same XXXX XXXX from XXXX CA.
During my XX/XX/2022 conversation with a man who posed as XXXX XXXX, he said he is located in XXXX CA, which is over XXXX miles north from XXXX. So, its unclear why XXXX XXXX sends me correspondence from VA and even lawyers from XXXX where XXXX is not working However, since letter from lawyer XXXX states that it was prepared by a lawyer, I found PennyMacs Deputy Counselor XXXX XXXX XXXX, whose name was misspelled in his electronic signature and contacted him for explanation and confirmation that this letter was in fact prepared and sent by him.
Lawyer XXXX have an obligation personally to respond to this letter since it raises issues about his practice of law, and it raises issues of potentially erroneous or fraudulent representations concerning his position at PennyMAc and the status of PennyPac as a purported authorized representative of a creditor.
Attached is a letter I received that purports to be under XXXX signature but the spelling of his last name is wrong. This leads me to question whether XXXX drafted the letter, authorized it, or signed it since the signature is clearly a digital signature. It also leads me to question whether he were allowing non-lawyers to send out correspondence in his name, as though it came from a lawyer. I'm sure that XXXX and XXXX ( who sent me this letter ) must be aware that a lawyer may not lend his license to a non-lawyer, as this would be aiding the unlicensed practice of law.
If the letter did come from XXXX, I can understand the frustration with my repeated attempts to clarify my status -- - if the frustration is coming from a person who represents an entity that represents a creditor who maintains an unpaid loan account receivable and who has made such assertion in writing. So far I have only received implied assertions of ownership of my " loan, '' which does no include a definition of what you mean by " loan. '' I have never seen a copy or report asserting that it is a report of thehistory of the loan account receivable on the books of any creditor. I have only received " Payment History '' that is produced by access to data that does not appear to be managed, input, or administered by PennyMac. I have never received any direct communication from any creditor whom PennyMac asserts representation or agency. I dont even know whom PennyMasc represents as a Servicer and whom they are servicing all time in question.
Moreover, PennyMac does not even perform any servicing activities since it is all done by at least 15 different companies none whom whom was disclosed to me.
On a separate electronically signed letter XXXX XXXX stated that I purportedly missed my payments. This is not true. I did not missed ANY payments at all. This is my CREDITOR who purportedly missed receiving my payments- and this Creditor never appeared and never claimed any payments from me - despite my diligent attempts to locate my Creditor. On XX/XX/2022 I sent XXXX XXXX, XXXX XXXX XXXX XXXX as Trustee and PennyMac an email and certified mail asking them for a Sworn Statements for Account to claim this alleged debt as a Creditor or lawful representative authorized by my Creditor - pr lose any rights to collect from me. My certified mail was received - but not responded neither by XXXX XXXX, XXXX or PennyMAc. Which means they voluntarily and officially rejected any legal rights to claim any money from me.
All letters under PennyMac letterheads are coming from OTHER companies, which is a text-book black mail used in extortion racket practice.
Based upon all prior efforts and correspondence, notices and statutory letters and responses, it appears that in using the word " loan '' they mean possible control ( not ownership ) of a note and mortgage and that the use of the word " loan '' does not include any accounting ledger on the books of any creditor showing ownership of an unpaid loan account receivable.
Thus far, despite my repeated efforts to obtain this confirmation or validation or response, PennyMac, XXXX and lawyer XXXX ( if he sent the attached letter ) have refused to supply it either because they don't possess it or because they have no access to such an unpaid account on the accounting ledger of some company, bank or other entity that maintain a current unpaid loan account receivable -- - i.e., one that could show receipts and disbursements ( receipts from me as a homeowner and disbursement to creditors ).
I have employed financial experts who are thoroughly familiar with current claims for securitization of debt and they have looked at this case. Their conclusion is that if it ever existed, the loan account receivable was extinguished and that it is impossible for PennyMac or anyone else to produce a copy or report of an unpaid loan account receivable in the accounting ledger of any person or entity.
The attached letter does nothing to satisfy my statutory requests for information concerning the existence and current situs of such a loan account receivable. In fact, I am told that it is highly unlikely that XXXX is knowingly misleading me about the status of such an account. The failure of anyone to produce any document or assertion of an identified loan account receivable now raises the inference, if not the legal presumption, that such an account does not exist.
The fact that XXXX might not know that he is either writing letters or allowing others to write letters under his digital signature wherein the information contained is erroneous or fraudulent does not absolve XXXX from your duty, as a licensed member of the XXXX, of due diligence and inquiry.
The answer to all of this is simple. Either XXXX did send the letter or he did not. Either there is a creditor who currently maintains an unpaid loan account receivable on their account ledger or there is no such creditor. If such a creditor exists, then validate or confirm that with a direct statement from the creditor that produces the copy or report of the unpaid loan account receivable from origination to the present plus a signed statement from the named creditor that PennyMac is authorized to administer, collect and enforce the account.
This demand is standard protocol in the banking industry. If it were otherwise then any unscrupulous player could assert the right to administer, collect and enforce any debt to the detriment of both the real creditor and thereal debtor.
I request PennyMacs lawyer XXXX XXXX XXXX to confirm in writing that he prepared and instructed XXXX XXXX to mail to me attached letter I request lawyer XXXX XXXX XXXX to identify my Creditor who authorized lawyer XXXX to send me this letter on my Creditor 's behalf I request lawyer XXXX XXXX XXXX to confirm that he conducted due diligence, under his Rules of Ethics, before he sent me this letter I request layer XXXX to verify if electronic signature on this letter is in fact his electric signature I demand disclosures from XXXX XXXX that lawyer XXXX authorized him to send this letter to me.
Awaiting your response I am Sincerely, XXXX XXXX
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| 07/13/2022 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
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- Problem with a credit reporting company's investigation into an existing problem
- Their investigation did not fix an error on your report
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Web |
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Please see the following account of events that have led to Pennymac erroneously reporting my XXXX mortgage payment as late in XX/XX/XXXX. I was placed into a loan modification process despite never requesting that they do that. Once placed into this process, I was blocked from making payments. On XXXX I spoke to someone on the phone and requested that they remove my account from the loan modification process. This was never done and I was unable to make the payment on time, resulting in a delinquent payment on my credit report. Of note, I never filled out an application.
My XXXX daughter was diagnosed with XXXX XXXX XXXX on XXXX. Due to not having childcare arrangements that could accommodate her needs for summer break from school, I had to take an extended leave of absence from my job so that I could stay home. While I had enough sick leave to cover my salary during this time, I still took a significant pay cut due to not being able to work overtime. Furthermore, I had a {$4000.00} hospital bill, along with additional expenses for diabetic supplies. I called Pennymac to simply ask if they had any options of a temporary hardship forbearance. For reference, XXXX ( My car loan lender ), offered me a 1-month forbearance automatically simply as a courtesy. I called Pennymac to ask if they offer anything similar.
I requested information on XXXX @ XXXX pm about temporary forbearance by calling them. I was immediately transferred to COVID relief. I explained my situation ( which had nothing to do with COVID ), and I was told I could only be provided with options by providing more information to the litigation team. I was transferred to litigation and on the phone with them for over an hour. I provided all requested information, verbally, over the phone. This was information such as income, expenses, etc. They told me that Id qualify for loan modification but could not tell me specific terms. I told them I dont want to change my loan. They said Id have to fill out an application to get specific options, but that nothing would change unless I asked for it to be changed. I told them they can send me the application and that I would look at it but that I do not want to change anything.
On XXXX - I noticed that I could not make a payment due to the status of my loan because the loan modification process has already started. This process blocked me from making payments.
On XXXX - I received a call from Pennymac about my application that I never filled out. I told them I did not want to start a loan modification and never asked for one. I went as far as to tell them they were being predatory and that I only requested information and now feel taken advantage of. I was told they would cancel it and I would be able to make a payment.
I have screenshots of when I attempted to make payments and was blocked from doing so on XXXX, XXXX, XXXX, XXXX, XXXX, XXXX, XXXX, and XXXX. As of today ( XX/XX/XXXX ) I am still blocked from making a payment. Their message reads : Based on the status of your loan, access to this feature is not available. If you feel this service should be available or you would like to resolve the condition that is preventing access to this service, please contact us. Reason ( XXXX ) for one-time-payment not being available : Your loan status indicates you are in a modification process ( PSM ).
Recorded call - XXXX XXXX I called Pennymac after seeing a delinquent payment on my credit report. I was told they would send the issue to Research and I would receive a call in 2 business days to tell me a case is opened. No timeline was provided beyond that step. I then made the payment for XXXX over the phone. It should be noted that I told Pennymac on XXXX that I can not make a payment and no alternative method was provided.
Recorded XXXX - XXXX I get another from them asking about the situation. I explained. They said it was my responsibility to call if I couldn't make a payment. I pointed out that I spoke to someone on XXXX, where I told them I'm unable to make a payment, and all they said was that the status would be changed back and I'd be able to make a payment in a few days. Not once did she tell me she could take my payment over the phone, despite me telling her that I did not know how to pay them on time. The rep put me on hold and listened to the recording of the call on XXXX. They said the rep should have told me that I could pay on the phone and that they'd address it with the rep. I asked what they would do about my late payment and she said all they could do was apologize. I ask her to clarify what she's apologizing for. She said she's apologizing for the " miscommunication. '' I asked her to clarify who miscommunicated. She said it was the agent I spoke to on XXXX who miscommunicated. I see this as an admission that a Pennymac representative failed to give me the correct information I needed in order to make the payment, which directly resulted in the late payment, but this is also beside the fact that I never wanted them to change the status of my loan or start a loan modification process in the first place. They placed my account in that status completely against my consent.
XXXX- received a letter in the mail dated XXXX stating because you did not submit a mortgage assistance package, PennyMac is unable to evaluate you for a loan modification or other payment assistance program Of note, I never filled any application out. I never submitted anything. I never requested a modification in the first place. It took them exactly XXXX month for them to deny from when I spoke to them on XXXX and demanded that they remove it.
Recorded XXXX - XXXX @ XXXX am, I call Pennymac back ( received a voicemail from a missed call on XXXX while I was working ). XXXX ( Whom I spoke with XXXX ) is not available. They offered to start a dispute, but I already did that last week. They said the notes from the last call with XXXX say that they denied my request to correct the delinquent payment. The rep 's exact words were that it Says credit report was correct and can not be corrected. The account was not covid impacted. I asked to provide reasoning and they were unable to do so. I was told I can dispute, which I've been doing this whole time. I asked to speak with someone from the credit review department and they refused to allow me to do so. How can someone from Pennymac 's dispute department conduct a thorough review/investigation into the issue without allowing me to speak to them? How is it not a conflict of interest for Pennymac to make this decision on their own, considering that they are investigating their own conduct? How can Pennymac claim that they are not responsible while simultaneously saying that the rep I spoke to on XXXX miscommunicated by not providing an alternative payment solution? How can Pennymac claim that they are not responsible if they feel the need to apologize for their own representative 's miscommunication and also feel the need to address the issue with that representative?
I have screenshots of attempts to make a payment and audio recordings of Pennymac 's representative telling me that the rep I spoke to on XXXX miscommunicated by not providing an alternative payment solution.
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| 07/01/2021 |
Yes |
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- Trouble during payment process
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Web |
Older American, Servicemember |
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XX/XX/XXXX PennyMac Loan Services NOTICE OF ERRORS XXXX. XXXX XXXX XXXX XXXX, CA XXXX Re : Notice of Errors 1. Failure to Properly Apply Florida Property Tax Exemption in a Timely Manner 2. Failure to Properly Apply Veteran Administration 100 % XXXX in a Timely Manner 3. Failure to Properly Apply New Property Insurance Company 4. Failure to Properly Apply the Paid In Full Receipt in a Timely Manner 5. Failed to Correct Multiple Mortgage Statements with Misapplied Payments in a Timely Manner 6. Failure to Account for my Mortgage Payments Properly or in a Timely Manner 7. Failure to Apply Our NO ESCROW in a Timely Manner 8. Violations of my Rights under the Fair Credit Reporting Act 9. Violations of my Rights under RESPA 10. Continued Harassment of the Above Offenses PennyMac Mortgage Services : Property Tax Exemption Since XXXX of XXXX, we have attempted to communicate with you, and implement in a timely manner, via many notices of errors, my Florida Property Tax Exemption Status granted to me by the XXXX XXXX, Florida Tax Assessors. As we have explained, and submitted documentation to you numerous times on your errors, that I am Property Tax Exempt due to my 100 % military connected XXXX. The appropriate official documentation from XXXX XXXX, Florida and the Veterans Administration have all been submitted to PennyMac in XXXX of XXXX. It was acknowledge as being received. It is now XX/XX/XXXX and you have failed to acknowledge this properly or implement this correctly, and in a timely manner, and after 30-days as required under RESPA. Failure to archive my important documents, communications, etc., could impact the handling of these in house problems before they are resolved. From the date of submission, you had five days to reply and 30 days to correctly apply this Tax Exemption to my mortgage without delay or mistakes via our Notice of Error and you have fail to do so.
Property Insurance On XX/XX/XXXX, we switched insurance companies from XXXX since we found a better quote with better coverage to XXXX XXXX. We submitted the appropriate documents immediately to PennyMac, PennyMac refused to acknowledge this PAID IN FULL receipt and instead, contacted our previous Insurance Company and paid them the inflated price without informing us of this action, which was later recalled. To this day, PennyMac has still failed to apply our PAID IN FULL no escrow status correctly even-though, PennyMac has sent us a letter acknowledging as of XX/XX/XXXX we no longer will be escrowing our property insurance or property taxes with PennyMac. ( see attached ) On XX/XX/XXXX, we received a PAID IN FULL letter from in the amount of {$2200.00} from the XXXX XXXX Insurance offices showing this and sent it to PennyMac immediately via the client portal. This PAID IN FULL is through XX/XX/XXXX. PennyMac failed to implement this PAID IN FULL status for more than 30 days after being notified in a timely manner in the Notice of Error so we were told to upload it through the XXXX web page by our previous mortgage servicer. Even-though PennyMac has acknowledged in writing we will no longer be escrowing with PennyMac after XX/XX/XXXX, these changes still have not been implemented for the XXXX and XX/XX/XXXX mortgage statements. This change should have been retroactive back to XX/XX/XXXX when this request was received. From the date of submission, you had five days to reply and 30 days to correctly apply our new insurance via our Notice of Error to our mortgage without delay, mistakes or mishandling of funds and you have fail to do so in a timely manner.
Misapplied Payments PennyMac has purposely slow walked implementing my Property Tax Exemption and the property insurance PAID IN FULL on its end causing multiple misapplication of funds and inaccurate accounting practices, improperly applying of funds in violation of the terms in the mortgage or deed of trust and overcharging us on our monthly statements by adding in unqualified escrow amounts. PennyMac continues to send us letters claiming we are late on our XX/XX/XXXX payment even after they have received our XX/XX/XXXX mortgage payment, ( Principle and Interest ) in full.
On XX/XX/XXXX, we mailed our XX/XX/XXXX mortgage payment via USPS certified return receipt in the amount of {$1500.00} with personal check # XXXX. On XX/XX/XXXX, that check cleared my bank and was deposited into PennyMacs XXXX XXXX XXXXXXXX account. That image has been sent to PennyMac and still, our payments have been misapplied for XX/XX/XXXX. PennyMacs reply was they are looking for the lost check and are reviewing our communications. Another slow walk process and continued harassment by PennyMac. On XX/XX/XXXX, XXXX at PennyMac miraculously locates my check and says they will escalate this and have the check applied, some 15 days after it was received. On XX/XX/XXXX in the All Transactions page in the client portal it clearly shows my XXXX payment for {$1500.00} was applied on XX/XX/XXXX, yet I receive letters from PennyMac my payment is late, the check was lost, and later found on XX/XX/XXXX. Our XX/XX/XXXX statement shows we owe {$4000.00} instead of the correct amount of # XXXX and has not been corrected in a timely manner.
Conclusion We have complied with every request for documentation from PennyMac, XXXX XXXX XXXX, XXXX XXXX, Florida Tax Assessors and the Veterans Administration and in most cases, submitted the same day as the request. We have communicated with PennyMac multiple times by phone, discussed with many representatives by email, by client portal, spent many hours on repeated mistakes and problems created by PennyMac attempting to get these mistakes resolved. We get slow walked every time, delays or partial implementations, rude representatives, untimely and mishandled funds, misapplied payments, one senior representative says they can fix the problem and they have the training and authority to do so, while others slow walk it through red tape for weeks on end, failure to recognize my Property Tax Exemption with the State of Florida, failure to acknowledge and implement PAID IN FULL property insurance and failure to implement our NO ESCROW request in a timely manner. This is a willful attempt by PennyMac Loan Services LLC to harass me because I am a XXXX veteran with property tax exemption and a PAID IN FULL home owners insurance premium through XX/XX/XXXX.
We have attempted to get this resolved many times to no avail. It is now XX/XX/XXXX and these problems have still not been corrected.
RESPA gives us the right to demand that you explain yourself thoroughly and correct all errors in a timely manner, acknowledging and responding to many written Notice of Errors and/or Request for Information. It has been more than 100-days to comply within proper timelines. If PennyMac continues to harass us via the above, we will seek immediate legal relief, compensation for damages for each violation and all legal expenses. PennyMac will be required to make our account whole and correct it going forward with NO penalties or fees, and to rescind any negative reporting to collections and or credit bureaus.
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| 02/06/2018 |
Yes |
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- Struggling to pay mortgage
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Web |
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The falling describes the problem with trying to keep my home.
First thing to note is that my father was a non-occupying co-signer. He has never lived nor paid on the property in question. He signed a quit claim deed, which XXXX XXXX XXXX stated would take the place of needing his information and signing of loan modification documents. And was their suggestion at an early time since he has not and will not contribute satisfying the mortgage.
Second thing to note, this mortgage was one in a class settlement between XXXX XXXX XXXX and the U.S. Department of Justice in XX/XX/XXXX. In XX/XX/XXXX, XXXX XXXX XXXX was required to forgive almost {$30000.00} in a settlement agreement with the U.S. Department of Justice. Currently there is equity in my home over the balance of the mortgage, which is why I believe that my home is a target for XXXX XXXX XXXX and PennyMac to acquire.
Timeline : XX/XX/XXXX/XX/XX/XXXX - I experienced hardships due to divorce ( my ex-wife was on the deed not the mortgage. She signed a quit claim deed during the divorce. ), also custody battles and layoff in XX/XX/XXXX.
XX/XX/XXXX I applied for a loan modification with Bank XXXX XXXX. I was approved with only my income information from my new job. XXXX XXXX XXXX did not require my father/co-signers income and information with the quit claim deed he signed.
XX/XX/XXXX The loan modification was approved. Documents were mailed to the address of property for me to sign and start the trial payments. However, I was working in XXXX, OH at the time. By the time I received the documents it was mid XX/XX/XXXX. The first trial payment was to be made by XX/XX/XXXX.
XX/XX/XXXX I called Bank XXXX XXXX to make the first trial payment. Confirmation number XXXX in the amount of {$1000.00} XX/XX/XXXX while still in XXXX working ( not able to check mail at home ) I noticed the payment was still not withdrawn from my checking account. I called XXXX XXXX XXXX to ask if there was an issue. The CSR informed me that the payment did not go through because I had given them the wrong checking account number. And now I was denied the modification. I told them there was no way I gave them the wrong account number. I gave them the same one I gave the CSR on XX/XX/XXXX. They informed me the checking account number they was one digit wrong.
XX/XX/XXXX XXXX XXXX XXXX called and informed me that they pulled the recording of the phone call on XX/XX/XXXX and that I did give them the correct account number. HOWEVER, their CSR person that took the payment entered it one digit wrong when typing it in. I was assured they would correct the issue and reinstate the same modification. Also to proceed with making a payment while on the phone with them. So I did.
XX/XX/XXXX I called XXXX XXXX XXXX and asked if they had corrected their mistake. They informed me that the modification was still denied do to not making a trial payment. However they were still working on correcting the issue and reinstating the loan modification. Also, while on the phone, I should make another payment. So I did.
XX/XX/XXXX I called to see if the loan modification had been reinstated, I was told no it was not because the trial payment was not made. I said yes it has, I have made two payments now. They said they were still working on reinstating it. I was told to make another payment. I said, no, that they had taken two payments in less than 30 days and not correct the mistake they made. At that point they told me I needed to enter an appeal of the denial of the loan modification. So I did. It took a month almost before I heard anything.
XX/XX/XXXX They called me and asked me to make another trial payment. However I had not received anything in writing stating they had approved the appeal or corrected the mistake. They notified me via mail that the servicing of my loan was being sold to PennyMac. And that I needed to contact them.
XX/XX/XXXX I contacted PennyMac as instructed. I was told by PennyMac that they did not have any info on the above matter with XXXX XXXX XXXX, which I explained to them. And that I would have to start a new loan modification package with them, PennyMac.
XX/XX/XXXX PennyMac informed that they require my father/cosigners information on the loan modification even though he had filled a quit claim deed that XXXX XXXX XXXX had accepted in lieu of his application. PennyMac said it was changes to the FHA guidelines.
XX/XX/XXXX XX/XX/XXXX We went back and forth about my father/cosigners information being required on the loan modification. I found out from a HUD counselor that what Penny Mac said was not true. I went back to PennyMac. At that time they decided to tell me that it was the lender that owns the note that requires it. Which is still XXXX XXXX XXXX by the way, who had accepted the quit claim deed in lieu of him being on the loan modification application.
XX/XX/XXXX I learned of a program that the state of NC offers to help with homes, up to {$36000.00}. The same HUD approved counselor with XXXX in XXXX worked with me to apply for this program. They also accepted my fathers quit claim deed in place of him being on the mortgage assistance application.
XX/XX/XXXX I was approved for the state program. However the reinstatement amount that came in was {$10000.00} higher than expected. And {$6000.00} over the {$36000.00} the state was offering. I also noticed that in the reinstatement letter sent to the state program, that the payments I made to XXXX XXXX XXXX in XX/XX/XXXX were not applied.
XX/XX/XXXX I called PennyMac requested that a three year payment history be made available on-line in my PennyMac account or that they send me one so I can show them that the payments are missing and I have proof of those payments.
XX/XX/XXXX to present I have continued to ask for a three payment history and ask that they work with me to reinstate the loan. They still have not provided a payment history for three years. PennyMac refuses to look into the missing payments on the account. PennyMac uses autodial to call me but no one ever picks up when they call. When I call there is always thirty minute to hour hold. Now, Im facing foreclosure hearings to set a sell date. The next hearing is XX/XX/XXXX in XXXX County Court, NC with the County Clerk of Court.
In my last phone call with PennyMac I was on hold for 45 minutes before getting to speak to someone. The representative on the phone from XXXX XXXX told me he could see or do much on my account because there is an error, some kind of title dispute and was told that I had spoke to a XXXX XXXX in their litigation department. I informed the rep that I had not talked to XXXX XXXX. He continue to explain that he is not able to see much and can not look into doing anything with the account because it is locked. He emailed and sent notification for this XXXX XXXX to call me. I still have not received any such phone call.
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| 10/07/2022 |
Yes |
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- Trouble during payment process
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Web |
Servicemember |
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On XX/XX/2022 the Texas XXXX opened applications and I applied for assistance. On XX/XX/2022 PennyMac, my mortgage servicer, got notified of my application to the Texas XXXX from the state of Texas.
The forebearance period on my loan was set to be exhausted in XX/XX/2022. PennyMac offered me a loss mitigation option in the form of a partial claim to pay for my delinquent payments during my forbearance. PennyMac has known about my application to the Texas XXXX since XX/XX/2022.
I expressed my concern for going through with the partial claim if my assistance from the state was going to be helping me pay my past due amount. I did not want to do the partial claim, to make me current on my loan, and then have the assistance from the state not go through just because I was forced to do a partial claim.
In the end, PennyMac pressured me to sign the paperwork for the partial claim, while telling me that if the money from the state were to come in, they would know to apply the funds correctly so that I would not have to do a partial claim. I foolishly trusted them to do the right thing.
They did not, ( 1 ) citing that they did not have policies and procedures in place at the time my assistance of {$40000.00} from the state came to know how to handle the payment. ( 2 ) placing the blame on the state for their negligence in handling my loan.
XX/XX/2022 I signed the partial claim paperwork after being falsely assured by PennyMac that they would do the right thing.
XX/XX/2022 Payment of {$40000.00} from Texas XXXX was received by PennyMac.
XX/XX/2022 I called PennyMac to make sure that they got the money, and to please apply it correctly as my partial claim was not yet completed. PennyMac confirmed they received the money, but it has not been credited to my account.
Last two weeks of XX/XX/2022, I am frequently calling PennyMac asking why the payment has not posted to my account? I am concerned about making my XX/XX/2022 mortgage payment. I will have to borrow money from title loans company in order to pay. PennyMac assured me that the payment was there and that I was ok with them.
XX/XX/2022 the ALL of the {$40000.00} was reported on my online account under reinstatement /fees. I was only behind about {$7500.00}.
XX/XX/2022 I called and asked why was the payment misrepresented to me like that. PennyMac confirmed that they did not have policies and procedures to deal with my case, so they are still deciding on how to apply it. They also made it very clear to me that they could NOT even attempt to apply the {$40000.00} until I pay my XX/XX/2022 payment. I express my hardship and that I have been in constant contact with them about this since XX/XX/2022, but they did not care. In the end, I had to get a title loan in order to make the payment just so that they can apply the {$40000.00} correctly. I was wrongfully I informed that another reason as to why they have not applied the {$40000.00} payment is that my partial claim had NOT finished on their end yet even though the XXXX County Clerk reported my second lien on my home on XX/XX/2022. I foolishly gave them the benefit of the doubt and trusted that they would do the right thing. They did not.
The during XXXX and XX/XX/2022 I was terrified to communicate with PennyMac after I broke down and was shaking with fear of losing my home on the phone with PennyMac. They did not consider my situation at all and again demanded I pay my mortgage payment. I again struggled to pay the amount but I was able to sell my plasma in order to make the payment.
I made the payment XX/XX/2022, PennyMac reversed the {$40000.00} payment from the state on XX/XX/2022 to Texas XXXX withOUT giving me or the state any explanation as to why it was reversed. I finally was able to draft a written request letter asking them why and also addressing their negligence in handling my mortgage. I have attached my letter as well as PennyMacs answers and supporting documents to my complaint.
PennyMac violation with my mortgage includes : ( 1 ) failure to promptly credit my account after getting a conforming payment of {$40000.00} from Texas XXXX, and then returning ( with no explanation ) the {$40000.00} back to Texas XXXX after processing it in their system for two months without correctly crediting to my account.
( XXXX ) Charging my mortgage unauthorized amounts.
( XXXX ) Misrepresenting mortgage loan transactions and payment history in online accounts.
( XXXX ) Incorrect handling of partial payments. Moving my assistance from the Texas XXXX ( {$40000.00} ) from fees/reinstatement to payment to suspense to reversal of payment ( XXXX ) Reporting false information to credit reporting agencies XXXX and XXXX. PennyMac reported the {$40000.00} payment to the credit report companies showing that they payment was applied to my mortgage, but never truly applied it.
My financial hardship began when my husband passed away and then the pandemic came. I lost his income as well as mine and I have been just barely surviving to pay my mortgage and bills. I get pregnant and have complications that resulted in an XXXX XXXX to give birth to a XXXX baby. I could not work my normal hours to earn my normal wages since all my life events happened. When I originally applied for this program and got approved for {$40000.00}, I was so relieved. However it was short lived as my mortgage company accepted your payment, and did not apply it accordingly or in a timely manner. The last four months has been the worst part of my hardship and I foresee more fraudulent and predatory actions from my mortgage servicer because they have violated my consumer rights. I desperately ask your department to please look into this matter for me and please communicate to PennyMac to help them with their policies and procedures on how to deal with Texas XXXX funds so this does not happen to others. I can no longer make my monthly payments as they have made me exhaust my entire life savings. PennyMacs actions in handling my case with Texas XXXX is not how a prominent mortgage servicer should handle it. Their lack of preparation of policies and procedures to handle Texas XXXX program funds to me, has caused me permanent emotional damage and stress that I can no longer speak to them on the phone without breaking down and crying. That is not normal behavior for a person having an adult conversation, the emotional pain I have been going through since my husbands death keeps coming in waves of financial hardships I am going through. The reason as to why the payment was reversed is still unclear to me even after my mortgage servicer replied to my written request asking them why. Pennymac claimed that the state of Texas was the one who asked for the payment back. Please see additional documents attached for a continuation of my hardship.
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| 11/18/2022 |
Yes |
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- Trouble during payment process
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Web |
Servicemember |
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I have encountered several issues with PENNYMAC as a mortgage company.
When I first started with them they sent me a letter stating that they did not have proof of hazard insurance on file so I provided hazard insurance to them. Then they bought hazard insurance on my behalf and removed the money from my escrow account. I had to call them and have this corrected so they cancelled that hazard insurance and put the money back. While calling on that issue I asked a very important question and it was of my hazard insurance that I just provided was sufficient enough for my loan and I was told yes I asked do I need fire insurance and the reason I asked was because in the past on previous loans with another mortgage company I had to have the extra fire insurance because of where I live and I thought it was strange I didnt need to on this one I was told no and that my current insurance with XXXX XXXX was sufficient. Because of where I live I actually did get fire coverage through the CA FAIR PLAN but in my own accord just to feed safe but I did not provide that proof to PENNYMAC since they didnt need it. Then when it came time to renew my fire insurance they asked about my mortgage company so they could update and make sure the information on my file was correct so my insurance agent provided and updated that information. They then sent PENNYMAC proof of insurance which I didnt ask them to but that was fine except then PENNYMAC sent me a letter saying they received my new insurance company and paid them and removed XXXX speciality from my account! Now at this point they have placed a FIRE ONLY coverage as my hazard insurance and removed my actual hazard insurance which if I wouldnt have noticed or read the letter it would have been left that way and in the event that anything happened other than fire to my house I would have NOT been covered. So I had to find time to get on the phone with PENNYMAC once again to resolve the problem I called advised of the issue so they then put the XXXX specialty back on which when this happened since they removed it they didnt send payment automatically like they should have to that policy almost cancelled out completely. The other issue was the CA FAIR plan was just a proof of insurance not a bill and PENNYMAC paid them which I had already set up that policy and had paid half of it on an agreement plan with them. I then had to get my agent involved to see about getting a refund from CA FAIR plan. Then because of the two payments to insurances going out when my escrow analysis came up a few weeks later it was showing that my insurance premiums doubled so then my mortgage then went up when I called to speak with them about that they said there isnt anything that can be done they need to wait till next year to review the escrow analysis at that point I advised I did not want my fair insurance escrowed I want to continue to pay it by myself because that makes it easier for me and still by this point not one person said it was required so they said okay they would remove it from being escrowed for next year just leaving XXXX speciality there. Well fast forward a few months I get a letter stating they dont have proof of insurance for XXXX we are already in the middle of XXXX and being told they dont have proof of insurance?? So I take them again to call and they proceed to tell me that they need proof of fire insurance for XXXX because the recent events with the mishap with my escrow account and insurances had my file reviewed and they didnt see it for XXXX so they need proof i had it or the insurance that they just purchased on my behalf can not be cancelled so at this point they just purchased fire insurance from some Company and a high rate for the year or XXXX a whole year ago we had already passed the whole entire term of that policy but I was having to pay for it out of my escrow account? I dont know how that is legal at all first because how could I even be sure that money was being sent to the actual insurance company for a policy for a whole year ago? And second I was never told to have fire insurance because as I said before when I first got PENNYMAC as a mortgage company and they messed up my insurance and I spoke with someone I confirmed I did not need it. Now when I asked these questions the rep continued to just say in the state they are required to make sure there loans are all correct and since mine was not they need me to buy this insurance for XXXX to make sure If they get audited that it would not come back on them! Also because of this my mortgage was again about to go about and not just {$200.00} like the first time but another almost {$400.00} because the premium was so high on the fire plan they purchased for me. Now I am very very upset, PENNYMAC is trying to cover their own XXXX on this but at my expense! Obviously the insurance department does not know how to read the evidence of insurance that goes to them because back in XXXX when I provided them with my hazard insurance they would have told me right then that yes you need fire coverage and guess what I actually had fire coverage so it wouldnt have been a problem but now I have paid for fire coverage on my own account and then now In XXXX Im paying for fire coverage again for XXXX out of my escrow account? How is this legal after going back and forth with PENNYMAC who was of no help I asked my insurance agent to just send me a copy of my fire insurance from XXXX since PENNYMAC said they would cancel the purchased fire policy for me if I could show proof I had it so I did to avoid my mortgage going up yet again I just did it, but the problem lies with how messed up the company is when it comes to servicing the policy and its insurances/escrow account again I dont even see how its legal for me to have to pay for a policy from XXXX in XXXX because they made a mistake and need to make sure they dont get in trouble in case of an audit! I think this whole company needs to be audited if they can do this to one person who knows how many other people are suffering from this! Now since then I have received multiple letters from them about XXXX in total all dated with in a few days of each other saying they have proof, no they dont need proof thank you for providing, or this is your second notice we need proof a I am so stressed out about this issue its affecting my home life. I have saved all of these letters so that someone can see how unorganized and unprofessional this company is something has to be done about this there is no way I can go through a 30 year mortgage with how many mistakes and stress they have put on me in just XXXX years!
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| 01/20/2022 |
Yes |
- Debt collection
- I do not know
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- Attempts to collect debt not owed
- Debt is not yours
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Web |
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Complaint, XXXX and XXXX On XX/XX/XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX ( XXXX ) and XXXX XXXX XXXX XXXX XXXX XXXX XXXX ( renamed in XXXX as XXXX ) located at XXXX XXXX XXXX XXXX, XXXX XXXX sent me fatally defective Modification package and false Partial Claim with XXXX, acting under PennyMac name.
XXXX XXXX expects me to sign these documents by XX/XX/XXXX.
However, I do not understand terms and the real nature of these documents and from whom they are coming.
I have rights to receive disclosures and explanations about this Modification from the authorized person who approved it ; the amounts to be modified and conduct personal inspection of my original Note which is still missing.
For example, this modification lacks any name of a person or a company who approved it. I have to sign and return it to XXXX at XXXX location. Why XXXX 's XXXX handles my " modification '' if another company - PennyMac - claims to be a Servicer responsible for this " modification ''?
" Modification '' has higher interest rate XXXX XXXX while my current non-existing loan rate is XXXX XXXX. Morever, I every day received offers for refinancing under XXXX XXXX or less. Why XXXX XXXX offered me predatory modification which will increase my payments, not reduce it.
XXXX XXXX makes my monthly gifts to unknown to me Investment Bank [ likely XXXX XXXX ] even higher than before.
This modification extends payments for my virtual loan to another XXXX months while under CARES Act it must be for time of forbearance, or at most for XXXX months.
I am reasonably concerned about my new involuntary donations schedule for undisclosed XXXX XXXX Bank for next XXXX years since according to XXXX vs. XXXX XXXX, PennyMac, XXXX 's modificationby " PennyMac '' of non-exsiting XXXX " loan '' with XXXX resulted in a very profitable collection and foreclosure.
XXXX XXXX XXXX XXXX XXXX whom Servicer PennyMac give my payments to distribute to Investors PennyMac is not even mentioned in any capacity. Did XXXX approved this modification? It must be disclosed to me since XXXX as Trustee is in charge of all financial affairs of XXXX XXXX XXXX XXXX where my loan is pooled by the original independent from money XXXX XXXX Mortgage.
My partial claim with XXXX is named as XXXX XXXX and looks drastically different than a similar false claim prepared by XXXX XXXX for XXXX XXXX.
XXXX XXXX claim states XXXX XXXX XXXX not assumable without XXXX Approval while PennyMacs states merely XXXX XXXX This Mortgage lacks the name of the individual preparer which is a violation of XXXX recording rules. My loan with XXXX was not recorded until someone put name of the person who originated it.
My new payments to fake lender PennyMac needs to be sent to XXXX XXXX XXXX XXXX XXXX XXXX ( who is constantly sued for customers XXXX ) in the same XXXX XXXX XXXX XXXX XXXX as XXXX XXXX.
I need explanations why and by whom XXXX XXXX XXXX XXXXXXXX is authorized to collect my payments for XXXX partial claim if PennyMac claims to be a Servicer who collects my money.
Modification Agreement lacks the name of the Investor.
It has the same number as XXXX but the Investor claims to be PennyMac. Why PennyMac is acting as XXXX?
This Partial Claim is based on alleged delinquency of my interest and escrow while did not mention principal. Which means that PennyMac whose name is designated by XXXX as the mortgagee under a mortgage is NOT the sole owner of the debt [ if exists ] and is not the owner of even a part of the claimed debt, which does not exist.
I pulled XXXX XXXX XXXX from XXXX XXXX recorded in XX/XX/XXXX. It evidenced that XXXX XXXX was not the owner of the alleged debt or the Note but merely holder of [ some ] records with the Seller XXXX ; and obviously did not received any money from XXXX Mortgage or XXXX XXXX on my behalf. Who was the Lender for XXXX and who received my money at the closing which I promised to repay?
The amount of Partial Claim with XXXX is inaccurate and unclear to me. It needs to be verified by VA and XXXX XXXX XXXX XXXX XXXX, and this is why I need your answer to my XXXX asap, so I can understand terms and amounts of XXXX XXXX Modification and Partial Claim with XXXX
I demand you to expedite my XXXX as soon as possible to help me to understand XXXX XXXX XXXX ; his relationship to my loan and his partial claim with XXXX.
XXXX : XXXX Please disclose the name of the Company and its individual Agent who approved this Modification and Partial Claim with XXXX. Please provide their business address ; phone number, email address.
XXXX. Please provide me an XXXX from XXXX XXXX XXXX XXXX XXXX and its authorized agent who approved and authorized this Modification and Partial Claim XXXX. Please state full corporate name for XXXX and explain why XXXX handles this " Modification '' and Partial Claim if PennyMac claims to be a Servicer who is responsible for modification and partial claim.
4. Please explain why this Modification has higher interest rate XXXX XXXX while my current non-existing loan rate is XXXX XXXX ; and who decided to charge this rate from me XXXX Please explain why this modification is extended for XXXX years if CARES Act provides only period of forebearance to be added to modifications, which is at most XXXX months. Please disclose the name of authority who approved this extended period of modification XXXX. Please state full name of the Investor, its mailing address and the name of its authorized officer. Please disclose if this Investor is the owner of my alleged debt and my creditor.
XXXX Please disclose the name of individual preparer of my XXXX Partial Claim XXXX Please explain why this Partical Claim is labeled as XXXX XXXX instead of XXXX Partial Claim Mortgage and does not bear language is not assumable without XXXX approval XXXX. Please explain why this Partial Claim is based on alleged delinquency of my interest and escrow while did not mention principal. Does it mean that PennyMac whose name is designated by XXXX as the mortgagee is not the owner of even a part of the claimed debt, which does not exist?
XXXX Please explain why my payments will be received by XXXX XXXX XXXX XXXX XXXX XXXX if PennyMac claims to be a Servicer who collects my payments.
XXXX Please explain how amounts of this Partial Claim were calculated and the name of the agent who conducted this accounting.
XXXX Please state date, time and place where I can inspect my Original and full assigned Note, in presence of an authorized Agent of my Creditor who owns the account receivable for my alleged loan.
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| 08/20/2021 |
Yes |
- Debt collection
- Mortgage debt
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- Attempts to collect debt not owed
- Debt is not yours
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Web |
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Dear CFPB, Please find my QWR and complaint against PennyMac Loan Servicing, LLC and XXXX XXXX XXXX XXXX and my demand for certain information.
On XX/XX/XXXX I received a letter from XXXX XXXX XXXX XXXX ( acting under glimpse of " PennyMac '' that SOMEONE ( who was not identified ) purportedly " ordered '' some property inspection and even placed " charges '' on my account REPORT generated and maintained by XXXX XXXX XXXX XXXX who is acting under directions from one of Wall Street Banks ( here : XXXX XXXX XXXX who sold me information about previously securitized transaction with the prior owner, XXXX ).
This letter has no contact information for the party who prepared this letter or any references who " ordered '' this inspection. Under the law, only the owner of alleged debt or its authorized agent can do it.
According to PennyMac 's letter of XX/XX/XXXX, all my " mortgage payments '' are forwarded to XXXX XXXX XXXX XXXX, a Central Payment and Transfer Agent who apparently is responsible for all accounting activities in some XXXX XXXX " Pooled Security '' (??? which suppose to be incorporated at least in some manner but nobody knows about it ) and where PennyMac claims to be everything - Issuer, Servicer and Investor who receives payments from BONY as a Transfer Agent while can not even explain whom PennyMac is servicing and how they obtained rights to collect from me any money ( if here was a debt ) I demand PennyMac and BONY to provide me ( 1 ) a copy of inspection report and ( 2 ) the name and contact information for a bookkeeper or an accountant who is responsible for bookkeeping and accounting activities of the general ledger of the Company where my loan is RECORDED as an account receivable and who made TWO big " mistakes '' in less than two weeks ; and the name and contact information for this accountant manager, so I can call them and discuss these issues in person.
The parties involved did not treat the purchase of any security as the securitization of an asset. In plain language, if they had securitized a loan receivable, then the loan receivable account would exist as an asset on the accounting record of some creditor. No such thing exists. In fact, the reverse of lending is what was always intended. No owner of any security, derivative, certificate or hedge product ever made that purchase of a security with the intent of owning or controlling any payment, debt, note, or mortgage from any homeowner.
And without an existing loan account receivable ( i.e., not the payment history ) there can be no creditor/claimant/beneficiary. It is not the receivables that were securitized. That is the point. Nobody who ever bought a certificate or derivative ever bought a share of receivables.
There never was any conveyance of ownership of any debt, note or mortgage or any payment. It didnt happen. And in most cases, there was and remains an express disclaimer of any such interest. If you see " PennyMac '' letter of XX/XX/XXXX, it does not state any " sales '', merely a " servicing right transfer '' - which must be done by the owner of the debt while nobody claimed to be an owner before PennyMac 's false statements.
When Wall Street entered the lending business with derivatives and securitization, it changed the basic components of every lending transaction affected. Debts were not securitized or sold. The inability or failure to recognize this fact is what caused the XXXX crash and what is still draining the economy, undermining any recovery.
Instead, these components were removed from the transaction leaving the homeowner with nothing resembling a conventional loan transaction : the lender, loan account receivable, compliance with lending statutes, disclosure of revenue arising from the transaction, compliance with servicing and collection statutes were all removed. Certainty and confidence in the transactions were replaced by doubt, mistrust, and ignorance.
Homeowners found themselves trapped under the threat of administration, collection and enforcement of a presumed debt without any evidence it still existed and without any evidence that the claimant had any rights to it. They also found themselves unable to reach anyone with legal authority to settle any claims because no such person existed. Companies claiming to be servicers do not handle or account for receipts or disbursements. They only report on third party reports.
Thus far, XXXX XXXX have succeeded in creating something new without any legislative authority to do so and without any governance or regulation : we are now dealing with virtual debts, virtual evidence, and virtual assertion instead of real debts, real evidence, and real allegations of material facts.
The debts need to be real and so do the creditors.The homeowners like myself never receive any disclosure that the money theyre paying is going to a non-creditor XXXX XXXX that has already generated a windfall in revenue than the entirety of their transaction.
But controlling the scheme is the point. So each time XXXX XXXX and other XXXX XXXX invented another layer of securitization, they increased their revenues from the receipt of securities that were sold securities that were mere bets on what discretionary reports from th e XXXX XXXX would say. Issuing securities does not mean the securitization of an asset occurred. The purchase of an option is not securitization of an asset even though the option is a new security.
There is no valid claim for repayment of debt because there is no debt. The reason why the loan account receivable does not exist is that it was paid off behind the curtain through the sales of several layers of bets issued as unregulated securities that were no more than hedges on what would be reports issued by the XXXX XXXX.
When you total up the revenue from sales of such freshly intend securities the amount is as much as 50 times the amount of the transaction in which the homeowner was given money or credit. So the collection of payments from homeowners is small potatoes compared to the rest of the scheme. the only reason to enforce is to maintain the illusion that the transactions ever were or currently are loans.
The transaction with the homeowner as an incentive payment for services rendered for XXXX XXXX ( here XXXX XXXX ) where I was an investor in the securities scheme without any disclosures or benefits from the scheme.
The fact that the debt does not exist explains fully why no payments were ever made for the transfer of the debt, note, or mortgage and THAT is what is required by statute.
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| 12/02/2020 |
Yes |
- Debt collection
- Mortgage debt
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- Attempts to collect debt not owed
- Debt was result of identity theft
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Web |
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Dear CFPB, Please find my Complaint against PennyMac Loan Services , LLC, ( PennyMac ) XXXX XXXX XXXX XXXX, XXXX XXXX XXXX and other non-disclosed XXXX XXXX XXXX ( such as XXXX XXXX go whom Federal Reserve Cartel purportedly " assigned '' over {$2.00} XXXX of so-called " XXXX XXXX Backed Securities '' ( which XXXX never had because XXXX never purchased anyone mortgages or Notes ), and others.
Please be kindly advised that if CFPB and XXXX and its analyst Mrs. XXXX will continue to cover for Big Banks Ponzi Scheme ; ignore my complaints and refuse to conduct FULL investigation about WHO SOLD my loan to PennyMac, I will have no other choice but to sue CFPB, XXXX and XXXX XXXX XXXX individually for aiding and abetting XXXX XXXX XXXX fraud, illegal collection ( aka racket ) ; identity theft ; unjust enrichment ; negligence ; theft of Honest Services ; reckless endangerment and other crimes, I many times demanded CFPB to ORDER XXXX and PennyMac to provide me simple information ( based on my so-called Contract for Mortgage Debt ) - such as PROOF that my Note or a part of my Note were actually SOLD, and a proof of such SALES, as required by UCC Art. 9, 203.
Neither PennyMac or XXXX never answer the question. They simply use the opportunity to propagate the lie that a loan was securitized when in fact no sale of the loan ever occurred. Moreover, XXXX lies non-stop that they are merely " Servicers '' of my loan who assumed " servicing '' ( for WHOM? ) on XX/XX/2016 ( while PennyMac sent me XXXX to the Note forged by some " collateral shipper '' XXXX XXXX.
Neither XXXX or PennyMac can not tell me WHO assigned them as Servicers ; and WHOM they are servicing. Because no such Masters exists. XXXX merely dumped its non-MBS securities ( read : information about loans on XXXX XXXX XXXX XXXX server was switched from XXXX to privately-owned Federal Reserve to its co-owner XXXX XXXX and other Big Banks ) XXXX and PennyMac simply following the usual playbook and read the scrip provided to them by Big Banks ( which they did as XXXX who never sold any " mortgages '' to XXXX XXXX XXXX or anyone else, it was a typical lie to defraud the public and steal bailout money and millions of homes via illegal foreclosures. They are missed directing your question. And I pointed it MANY times to the AG office or CFPB The basic thrust of my question is the identification of the creditor who maintains an account receivable for the underlying obligation, and whether the Obligation still exists.
Their answer Is that the word salad that they are using to label a virtual creditor ( PennyMac who can not even use XXXX XXXX 's system, is the note holder. I was not asking that. I asked WHO SOLD my loan to PennyMac if XXXX was " merely a Servicer '' and never confirmed any sales. Much less XXXX XXXX who never funded any single mortgage.
I am asking the same question how did PennyMac become the holder.
A holder is someone in possession of the note with the right to enforce it. What everyone seems to forget is to ask the question of how the party in possession of the note received the right to enforce ( which can only be granted by the party who owns the obligation or who represents someone who owns the obligation ) IF nobody (!!! ) confirmed that they were SELLERS of my so-called " loan '' ( my involuntary servitude for Big Banks with negative compensation and theft of my identity which they trade by DTC ; as well as theft of my escrow money.
Nobody gets to own an obligation just because they say so. In order to own an obligation, a party must have entered into a legally recognizable transaction in which they purchased it for value pursuant to Article 9 203 UCC as adopted by all 50 states. All states also recognize that a purported conveyance of an interest in a mortgage without a conveyance of ownership in the underlying obligation is a legal nullity.
None of it exists. All PennyMac was able to provide - an avalanche of absurd and contradicting LIES not supported by any evidence of their so-called ownership. To the contrary, their Bosses from XXXX XXXX ( XXXX/XXXX XXXX XXXX ) CONFIRMED in their Complaint that PennyMac are thieves who stole their information to defraud investors about trades of some bogus " securities '' purportedly backed by non-existing " defaulted debt '' PennyMac solely rely on a rebuttable presumption arising from the PURPORTED possession of the note. This legal fiction promoted by Big Banks is adopted in most states is that if you have the note in your possession, or at least if you claim to have a note in your possession, that there mustve been a delivery of the physical note along with the authority to enforce it. PennyMac never had any possession of my Note because Big Banks destroy mortgages and Notes after they are scanned and placed in XXXX XXXX database. ALL that PennyMac is able to present is some printed IMAGE of my purported Note while repeated refuse to provide legally required answered to the basic questions about existence and ownership of the underlying obligation and a proof of SALE ( including the name of the Seller ) At the end of that claimed transaction, the purchasing party must claim ownership. If it says it is the owner of the obligation, then it must have entries on its accounting ledgers and banking statements that show payment of value for the underlying debt and the establishment of a loan account receivable.
It is possible that the entire XXXX XXXX strategy has been based upon the gamble that nobody other than accountants understands double-entry bookkeeping the only bookkeeping system legally recognized as the starting point of any claim of ownership or transaction about anything.
Without real transactions and real entries in their ledgers, nobody can claim ownership of the obligation. And nobody can claim authority from the owner of the obligation unless that mysterious virtual creditor has entered into transactions and currently maintains ownership of a loan account receivable.
And if CFPB, DIFS and its analyst Mrs. XXXX will continue to cover for XXXX XXXX crimes and support their Ponzi Scheme with Pension Funds, I will have no other choice by sue the Agencies and Mrs. XXXX personally for all damages I suffer from her aiding and abetting the Biggest crime committed by XXXX XXXX XXXX ; and demand them to ORDER PennyMac and XXXX to provide me a clear answer to my simple question - who SOLD my loan to PennyMac and provide me t PROOF of the ownership and existence of the underlying obligation.
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| 02/12/2020 |
Yes |
- Debt collection
- Mortgage debt
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- Attempts to collect debt not owed
- Debt was result of identity theft
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Web |
Servicemember |
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Dear CFPB, Please find my complaint and NEW evidence that PennyMac Loan Servicers, LCC ( PennyMac, formerly XXXX XXXX , XXXX ) are fraudulent collectors who illegally obtained my loan ( stole it ) and try to extort payments under false pretenses ( aka racket ).
On XX/XX/XXXX PennyMac 's representative, Mr. XXXX XXXX, responded to my XX/XX/XXXX complaint that I purportedly did not provided any new information which I demanded PennyMac to address.
It is a typical for Mr. XXXX lie who started to mislead me about PennyMac 's relationship to my loan from day one.
I DID provided new information - a letter from XXXX XXXX Senior Vice President XXXX XXXX where he told Senator XXXX that the Issuer of securities backed by my loan is XXXX XXXX XXXX , XXXX - while PennyMac on XX/XX/XXXX told me that the Issuer is PennyMac, who is also an Owner, Investors and Creditor who purchased my loan from some secretive Seller.
Mr. XXXX completely ignored my questions, my evidence and the letter from XXXX XXXX and refused to provide explanations how PennyMac became an Issuer of XXXX XXXX MBS without XXXX XXXX knowledge.
Instead Mr. XXXX solely concentrated on my " suspense '' account and mortgage payments - which I do not owe and never owed to PennyMac and which they have no rights to collect and illegally extort from me under threats with foreclosure while relentlessly lie about their relationship to my loan.
In addition to XX/XX/XXXX letter from XXXX XXXX, I received additional NEW evidence to prove that PennyMac is a fake " Servicer '' who stole my identity and my loan - likely to back their own securities issued on XX/XX/XXXX and defraud their investors from {$190.00} XXXX whom PennyMac presented " collateral '' to which PennyMac has absolutely no rights or relationship.
On XX/XX/XXXX XXXX XXXX XXXX who cash my checks told me that my CURRENT Servicer is XXXX XXXX XXXX , XXXX ( XXXX ) - not PennyMac.
So, XXXX XXXX told me that the Issuer is XXXX ; XXXX XXXX XXXX told me that the Servicer is XXXX but PennyMac continue to swamp me with an avalanche of absurd and contradicting lies - while failed to address ANY of my questions such as who sold my loan to PennyMac ; that is Trusts name, closing day, CUSIP number Tax ID and EIN - all of which is public information and must be readily available for a legitimate party..
According to Mr. XXXX 's XX/XX/XXXX letter, XXXX XXXX does not issue its own securities, it must be done by private Lenders.
PennyMac never was my Lender, it was purportedly XXXX who passed my loan to XXXX on XX/XX/XXXX, thus had less than 24 hours to pool my loan and issue XXXX XXXX MBS.
In the same letter, XX/XX/XXXX, Mr. XXXX said that PennyMac as " Servicers '' ( and Issuers ) collect from me principal and interest payments that a Central Payment and Transfer Agent XXXX XXXX XXXX XXXX remits to Investors, who according to Mr. XXXX is also PennyMac.
Furthermore in the same letter Mr. XXXX said that XXXX XXXX does not sell performing loans unless they are more than three months delinquent - but on XX/XX/XXXX Mr. XXXX insisted that PennyMac PURCHASED my loan - from some secretive sources - and now Owner/INVESTOR whom XXXX XXXX XXXX XXXX ( whose presence in my loan is very questionable ) remit PennyMac my payments cashed by XXXX XXXX XXXX.
Thus, PennyMac, a default debt buyer, must purchased my loan as defaulted loan ( IF they purchased anything ) - while my loan never was in default from somebody who had authority to sell them my loan. Under existing law, such purchase must be accompanies by a Proof of Sale, see UCC Art 9, 203.
PennyMac can not present ANY proof of sale or any legitimate transfer ; or provide me ANY explanations who sold them my performing loan and how PennyMac became Servicer and Issuer three years after my closing - without HUD/XXXX XXXX knowledge.
And to which investors XXXX remits my payments if the Investor/Owner/Creditor is also PennyMac - without any single evidence in support, except Mr. XXXX 's childish lies.
summary of Mr. XXXX ; 's responses : On XX/XX/XXXX and XXXX Mr. XXXX informed me that they are Owners/INVESTORS in my loan.
According to XX/XX/XXXX letter from Caliber ( who on XX/XX/XXXX claimed to be " owner investor ) the owner/investor in my loan is XXXX XXXX.
On XX/XX/XXXX Mr. XXXX sent me a letter where he claimed that PennyMac PURCHASED my loan and now owner/investor and creditor - but failed to identify the Seller. See letter enclosed.
On XX/XX/XXXX PennyMac sent me a full closing file where my loan was transferred to XXXX XXXX Loans, XXXX ( XXXX ) by collateral shipper XXXX XXXX on the same day as my closing, XX/XX/XXXX. Which means that XXXX XXXX XXXX XXXX with whom I signed the Contract, was a fake lender and the real party who originated my loan and facilitated funding ( from a very questionable source ) was XXXX who deny its involvement in my loan until XX/XX/XXXX.
XXXX said they are merely a Servicer for my loan, thus can not sell it to PennyMac - who bear to repeat, told me that they PURCHASED my loan from someone.
On XX/XX/XXXX PennyMac sent me a letter where Mr. XXXX said that PennyMac is an ISSUER of securities backed by XXXX XXXX.
Mr. XXXX said that private Lenders ( in my situation - XXXX XXXX who passed my loan to XXXX on XX/XX/XXXX ) pool mortgages and issue XXXX XXXX MBS.
Thus, XXXX, a purported Lender, had less than 24 hours to pool my loan and issue securities backed by XXXX XXXX.
On XX/XX/XXXX XXXX XXXX Senior Vice President XXXX XXXX responded to XXXX XXXX and told him that the Issuer is XXXX - not PennyMac.
Mr. XXXX ignored this letter and never explained how PennyMac became an issuer of XXXX XXXX MBS without XXXX XXXX knowledge.
On XX/XX/XXXX XXXX XXXX XXXX informed me that my CURRENT Servicer is XXXX XXXX XXXX XXXX XXXX.
But Mr. XXXX continue to lie and insists that the Servicer is PennyMac.
I demand Mr. XXXX to stop his false statements and provide me FULL disclosures who sold PennyMac my performing loan ; the name, CUSIP number, TaxID, EIN and the of the Trust where my loan is pooled as a Securitiy ; proof of sale under UCC Art. 9 203 ;, copy of pooling and servicing Agreement, explanations who appointed PennyMac as a Servicer for this Trustand why XXXX XXXX has no knowledge about PennyMac 's status as an Issuer and Servicer. For which investors PennyMac collects my payments if the Investor is PennyMac?
I reserve my rights to demand more information from PennyMac.
Regards, XXXX XXXX
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| 01/14/2021 |
Yes |
- Debt collection
- Mortgage debt
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- Attempts to collect debt not owed
- Debt was result of identity theft
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Web |
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Dear CFPB, I MANY times contacted your agency asking to help me to identify me the owner of my purported debt ; and how PennyMac became a Buyer of my so-called loan if they can not even name the Seller ; Servicer for some non-existing XXXX XXXX XXXX ; and Issuer of some securities while nobody from XXXX XXXX do not even aware about PennyMac 's role as as " issuer '' as confirmed by XXXX XXXX Vice President XXXX in his letter to Senator XXXX. PennyMaXXXX can not identify who APPOINTED them as a Servicer ; have no single proof to support their claim as " investors ''.
PennyMac ignores all my questions and relentlessly lie to Federal Authorities that PennyMac purchased my so-called debt from some unknown seller - while all evidence shows totally opposite - PennyMac is a thief who stole homeowners data from XXXX XXXX to racketeer homeowners on its own.
In all recent communication PennyMacs representative XXXX XXXX ( a counter- defendant in racket case XXXX filed in NC Federal Court on XX/XX/XXXX ) advised me that he will continue to lie about PennyMacs false position as a buyer owner investorissuer and servicer of some non-existing Trust where XXXX is a purported Trustee while PennyMac NEVER was a buyer owner issuer or investor in anyones debt ; and Trust mentioned by Mr. XXXX does not exist. Which is a Federal crime since XXXX lie to Federal Authorities about fake entity which purportedly created by another Federal Authority, thus make XXXX XXXX liable for this crime and fraud against investors.
ALL of it are lies, which are confirmed by XXXX XXXX XXXX XXXX ( the real servicer and originator who collects my money via lockbox agreements with XXXX, XXXX XXXX to pass it as tax-free revenue to XXXX XXXX XXXX who are the Issuers of unregulated securities - bets - which they sell to investors.
Despite PennyMacs lies and fraud, which I proved many times, XXXX XXXX continues acting under PennyMacs name, to terrorize me with offers to modify my loan purportedly by PennyMac - even though I requested extension of my forbearance on return of my commission paid to me by all XXXX XXXX for issuing my Promissory Note which this XXXX XXXX XXXX used to initiate a windfall of profits. by selling my DATA on the open market to various investors in form of BETS on performance of certain business evens PLUS place bets against the same events to get insurance coverage.
Now they want additional windfall, my home, acting under glimpse on non-related parties such as PennyMac.
In XXXX similar crimes resulted in death penalty to so-called default debt fund manager XXXX XXXX for bribery and corruption. XXXX XXXX, who has no idea to whom they guarantee payments since ALL their information about so-called sales and servicing is coming from XXXX XXXX XXXX which is previously known as XXXX XXXX XXXX XXXX, the King of forged documents in foreclosures.
XXXX XXXX XXXX and XXXX XXXX enjoy total impunity from all crimes because American Government is unwilling and unable to control XXXX XXXX XXXX and their lower level mobsters like PennyMac.
I AGAIN received undated, unsigned Notice sent to me by XXXX XXXX automated system, offering me a modifications with PennyMac who has absolutely NO relationship to my transaction with originator and Servicer XXXX XXXXt who passed me a one-time payment masqueraded as a loan via fake Lender XXXX XXXX XXXX XXXX.
Since the named originator - XXXX XXXX XXXX XXXX - was not the originator and much less a Lender, they could not transfer or convey the loan anyone.
The transaction was with a XXXX XXXX Brokerage Firm who paid me for being inducted into a concealed business plan and not as part of any loan that was recorded as such on the lender side.This is why XXXX XXXX immediately prepared an assignment to XXXX signed by Collateral Shipper XXXX XXXX - while nobody can even tell where this Mr. XXXX worked and if this is a real person.
This XXXX was executed - but never recoded ; and XXXX always DENY any involvement in my transaction until XX/XX/XXXX, merely as a Servicer for someone whom XXXX can not identify.
XXXX also deny any ownership of my loan ; and never disclosed who was the Seller of my loan to PennyMac. Because XXXX was just an intermediary as well for an investment bank, who was always the real party in interest. In the entire process, there were no entries on the ledgers of any company reflecting payment for the underlying obligation created by issuance of the promissory note because there was no underlying obligation. At closing, the payment received by homeowners was disguised as a loan in order to get it back. This left homeowners with risks far exceeding the known parameters of the deal and without a lender or even a loan account receivable from which the homeowner could demand an accounting.
It also left homeowners with no payment at all for their services in launching an astronomically profitable business of selling securities that were only discretionary promises to pay and/or that were bets on the future reports of investment banks who referred to the performance data on loans in which they had no interest.
But since PennyMac is hired by Big Banks to defraud homeowners and investors, and this is the only purpose of their existence, Mr. XXXX continue to send me lies from XXXX XXXX XXXX scrip.
Here are no evidence of any sales or any other lawful assignments or transfers to anyone. That gave the investment bank the flexibility to name ANYONE as thevirtual creditor while concealing the fact that it had extinguished the obligation as it was acquired.
It is absolutely evident that PennyMac is merely a group of liars from XXXX pretending they servicing something while everything is done by third parties - XXXX XXXX who collects ALL my money via lockbox agreements with XXXX ; and XXXX who helps XXXX XXXX to defraud homeowners and investors and who pay ALL Taxes and insurances from XXXX XXXX operating funds while Big Banks pocket all escrow payments and their additional revenue because nobody has an account receivable for ANY loans.
Since XXXX XXXX Stockbrokers want to keep their presence secretive and XXXX XXXX also is not willing to disclose, I demand forbearance under CARES Act on retuning my commission to XXXX XXXX XXXX until XX/XX/XXXX ; full investigation against PennyMacs racket and compensation for all damages, including emotional distress.
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| 03/12/2019 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
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- Problem with a credit reporting company's investigation into an existing problem
- Their investigation did not fix an error on your report
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Web |
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I purchased my home in XXXX of XXXX. A big deal, as I am the first person in my family, and the first in three generations to ever own a home. Since the very beginning, I have always paid my mort/gage on time until around XXXX of XXXX. Around XX/XX/XXXX I was authenticating a wire transfer to pay my mortgage, and as I was doing so, the XXXX XXXX XXXX service rep mentioned to me that I should take advantage of their bill pay system. I was intrigued because, as the representative assured me, it was a seamless process, free and once I set it up I wouldnt have to worry about it because they would mail my mortgage company a check by the specified date once a month. I asked the rep what all I needed to begin the process. While she was on the phone with me, she assisted me in setting up my bill pay account to start in XXXX of XXXX, this way I knew I had all of the info required for successful payment. I even called Penny Mac on the other line to confirm I had all the correct info to for the check payments.
Come XXXX, feeling a little anxious I kept my eyes on my account to be sure my mortgage payment was withdrawn. Once the date it was supposed to be there passed, I called XXXX XXXX to figure out why it hadnt been processed. The rep informed me that the check had been mailed and they were not sure what was going on. They instructed me to call Penny Mac to see if they received anything. I called Penny Mac, and they informed me that they never received the check. At this point, I am annoyed. I put Penny Mac and XXXX XXXX on three-way for the two to figure out what was going on. I even requested XXXX XXXX to Fax Penny Mac the confirmation that the check had been mailed.
Unbeknownst to me, We learned that the Penny Mac representative whom I requested info from during the setup phase had given us, Myself and XXXX XXXX, the wrong address. The rep gave us the wiring mailing address, and I am not sure why they would do that as she knew I had previously been wiring my mortgage payments and wanted to start mailing checks. I asked the Penny Mac rep if I would be at fault for their mistake and their response provided me with no real confidence in resolving the issue. I was frustrated because, now, I am considered late on my mortgage payment. However, once we were able to get the correct info, I also learned that, from the XXXX XXXX Rep, even if the check would have arrived Penny Mac wouldnt have been able to process it because the way the check was printed it put the name of the recipient in the wrong place. I am not sure what this means, but it just added fuel the fire. At this time, the Penny Mac and XXXX XXXX reps were able to clear things up. I ended up paying my mortgage via wire, which was waived by XXXX XXXX, for this month because I was already late so I had to pay it asap. Round 2, now that we had the correct information I tried bill pay again for XXXX mortgage payment. After having a rough experience, the first time I kept an even closer eye on the payment. It was late XXXX when I realized Penny Mac hadn't processed the payment. I called XXXX XXXX to investigate the issue, and they informed me that the check had been mailed. I then called Penny Mac to check and see if they ever received the payment. Sadly, they reported to me that they did not. I called XXXX XXXX back to see what was going on and they werent sure. They also mentioned that might be due to the holiday schedule and that carriers may be backed up. At this point, I felt defenseless. I even got a letter from XXXX XXXX warning me of them potentially defaulting on my loan. As I mentioned, I am the first in three generations ever to own a home, so you can imagine what it would do to me for me to lose my house. I wasnt sure what to do and what rights I had because everyone from Penny Mac to XXXX XXXX all made me feel as if this was all my fault. I even reached out to a buddy of mine, XXXX XXXX, who use to work for CFPB for advice. At this point, I just wanted it to all be over. I called XXXX XXXX to cancel the check, and that I would pay via wire, again, they waived the wire fee. Eventually, I was able to get all caught up. Penny Mac later informed me via phone that if your payments were late the payments you submitted did not apply to that month but to the month it was late so I didnt realize that all the amounts I was sending via wire applied to the previous month. The first week of XXXX I paid everything I owed including the late fees. Once everything was in the clear, I felt a huge sigh of relief, and from then on, I paid my mortgage via wire and told XXXX XXXX to remove my info from their bill pay.
Two months later, I reached out to my lender to get pre-approved for another home loan. I did not realize that I now have three months of late mortgage payments on my credit. I didnt understand how that experience assassinated my credit history. I called Penny Mac to confirm that I had three months of late fees. Luckily, They mentioned that I only have two ( XXXX and XXXX ) I need to reconcile with the credit bureau the third one. However, I informed my lender of the situation, and by the grace of XXXX, he informed me of my rights and how the CFPB can assist me in fixing this issue. He suggested I first call XXXX XXXX and see what they had to say. I called them and informed them of the situation, and their response is what drove me to write this complaint. They told me that their bill pay system is run by XXXX XXXX which is a third-party vendor and that I should call them. I felt as if I had been shuffled and I rather not chase folks around to resolve this issue. Now I am stuck, throughout the whole process I felt abused and taken advantage of. I even considered bringing in legal counsel, but I cant afford that and feel as if I have no real rights.
Status Update XX/XX/XXXX : Before submitting this complaint, I reached out to Penny Mac to, hopefully, reconcile this issue. After discussing the situation with their representative, they played back the call I had with the original rep who gave me the wrong information and agreed with me that the information was incorrect. However, the credit reportings are correct because the payment I made was for the previous month and not the current month. I was never informed that I was behind schedule and if I were, I would have paid all that was owed.
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| 02/15/2018 |
Yes |
- Money transfer, virtual currency, or money service
- Domestic (US) money transfer
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Web |
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We suffered water damage to our home in XX/XX/XXXX. The insurance company paid off the claim and sent a check payable to XXXX XXXX XXXX XXXX ( the contractor they referred to us to remove and re-install hardwood floors0 PennyMac our mortgage company and ourselves. They asked us to have it endorsed by XXXX XXXX, sign it ourselves and send it to PennyMac.
PennyMac re-issued the check payable to XXXX XXXX XXXX XXXX and our selves and advised it to send it to XXXX XXXX, have them endorse it and send it back to us so we could make progress payments. XXXX XXXX refused to endorse the check and send it back to us. They held the check from XX/XX/2018 while we discussed remedial work required on the floors they installed and several thousand dollars damage to our furniture and household goods that was damaged when they moved the furniture out of our home, into storage and back to our home.
XXXX XXXX subsequently cashed the check XX/XX/XXXX, without our signature and when we found this out PennyMac was going to send us copies of the front and back of the cashed check and conduct a fraud investigation.
PennyMac later refused to conduct the fraud investigation into this check that was illegally cashed. The following is a draft of a letter that I have prepared to send to XXXX XXXX XXXX, Chief Executive Officer, XXXX XXXX XXXX, outlining PennyMac 's refusal to conduct this investigation and it includes names of PennyMac personnel that we discussed this issue with and dates of various conversations.
XX/XX/XXXX XXXX XXXX XXXX XXXX President and Chief Executive Officer XXXX XXXX XXXX Corporate headquarters XXXX XXXX XXXX XXXX XXXX, CA XXXX XXXX XXXX, Please refer to the attached copy of check # XXXX.
We suffered water damage to our home in XX/XX/XXXX and the insurance company paid off the claim in the amount of {$26000.00}, referenced in the attached check and sent it to us, payable to PennyMac and ourselves. We endorsed the check and sent it to PennyMac.
PennyMac re-issued the check payable to XXXX XXXX XXXX. XXXX XXXX XXXX XXXX XXXX XXXX and advised us to send the check to XXXX XXXX, which I did XX/XX/XXXX, to have them endorse it and send it back to us so we could make progress payments.
XXXX XXXX refused to endorse the check and send it back to us, choosing instead to hold it and subsequently cashed it XX/XX/XXXX, without our endorsement.
We became aware of this during a conversation with XXXX XXXX XXXX with your organization, XX/XX/XXXX. We requested a copy of the front and back of the check and XXXX XXXX also advised us that PennyMac would research further steps, including a fraud investigation and this review should be completed by Tuesday XX/XX/XXXX.
We followed up with XXXX XXXX XX/XX/XXXX and was advised that our request for a copy of the front and back of the check had been approved and that PennyMac was still reviewing the fraud aspect. In addition, we were told PennyMac would send us a form that we could take to XXXX XXXX XXXX to obtain further information on the check.
We followed up again XX/XX/XXXX and spoke with XXXX XXXX XXXX, Escalation Specialist, and she advised that she would have a manager call us within 24 t0 48 hours and she confirmed that a copy of the front and back of the check was requested from home office and mailed to us XX/XX/XXXX.
To date a copy of that check has not been received, nor has the form for us to take to XXXX XXXX XXXX to obtain more information on the cashed check. Have we been misinformed by PennyMac regarding mailing a copy of the cashed check and the form to take to XXXX XXXX XXXX? PennyMac claim to record theses calls so, so they can very easily confirm this conversation and verify who provided us with this information.
We followed up further XX/XX/XXXX and spoke with XXXX XXXX XXXX. XXXX XXXX subsequently left us a voice mail message later that day advising ; she received a response back that PennyMac would not be involved in any investigation on the claim check # XXXX in the amount of {$26000.00} that was cashed by XXXX XXXX without our endorsement.
We ( my wife and I ) may choose to get the police involved because we did not endorse the check that was payable to the contractor and ourselves.
Suggested that we contact the insurance company and start with them to find out where we can proceed going forward regarding our claim funds. ( my wife and I do not understand this suggestion since our insurance company paid off the claim and the check was subsequently sent to PennyMac. PennyMac re-issued the check payable to XXXX XXXX and ourselves ).
It is difficult to understand why PennyMac is refusing to conduct a fraud investigation into a check drawn on your XXXX XXXX XXXX account, payable to one of your mortgagors and XXXX XXXX, that was not endorsed by your mortgagor and illegally cashed by XXXX XXXX. ( This certainly appears to be a criminal matter ).
Also, XXXX XXXX knew that there were funds in the check that should be paid to the Ishmaels and was, and is, aware that remedial work is required on the floors they installed and several thousand dollars damage was done to household goods during the move-out, move-in of our furniture, that needs to be made whole.
Since PennyMac has refused to investigate criminal activity associated with the fraudulently cashed check, does this suggest that PennyMac may be complicate in this matter?
In addition, we are locked out of our PennyMac account and we were told by XXXX XXXX that we were locked out because of the fraud investigation. However, since PennyMac has refused to conduct a fraud investigation, would you please let us know why we are still locked out of our account?
XXXX XXXX, I would appreciate your review of this matter and hearing from you further on this? In addition, please let us know if this is a criminal matter that we should refer to the police for investigation, since PennyMac has refused to conduct a fraud investigation into the illegal cashing of this check XXXX XXXX, attached?
Copy : Consumer Financial Protection Bureau XXXX XXXX XXXX PennyMac XXXX XXXX XXXX ( via fax ) XXXX XXXX PennyMac ( via fax ) XXXX XXXX PennyMac ( via fax ) XXXX XXXX PennyMac ( via fax ) XXXX XXXX PennyMac ( via fax )
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| 02/17/2019 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
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- Problem with a credit reporting company's investigation into an existing problem
- Difficulty submitting a dispute or getting information about a dispute over the phone
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Web |
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I have reason to believe that Penny Mac and XXXX XXXX XXXX are committing fraud and have violated my rights with the Fair Credit Reporting Act as well as have violated my rights with the Home Affordable Act Modification Program. I have contacted both mortgage companies several times regarding an explanation with why my mortgage payments were not disbursed as agreed upon in my Home Modification agreement or why the terms have not been followed and I am either told to speak to the other mortgage company, my requests are disregarded or I am given incorrect information. I have filed several disputes with all three credit agencies regarding XXXX XXXX XXXX failing to report the trial payments of my Home Affordable Modification from XX/XX/XXXX to XX/XX/XXXX and XXXX XXXX XXXX has failed to correctly report that I ever made any trial payments or ever had a government loan modification agreement.XXXX XXXX XXXX has also failed to update my credit report to current as stated by section XXXX, XXXX and XXXX in the Home Modification Program Guidelines to report me as current once I successfully completed the trial payments and loan modification. Per the XXXX XXXX XXXX XXXX XXXX guidelines my mortgage with both mortgage companies are supposed to report to all credit bureaus current under government loan modification. In XXXX I signed a deferment agreement with XXXX XXXX XXXX to not have to make any payments while under hardship.XXXX XXXX XXXX has not noted any of this on my credit report. It simple looks like I irresponsibly went months without paying my mortgage and then it says account sold. Penny Mac has also failed to update my credit report with the correct information. Penny Mac states that they will continue to report my credit report with being 120 days simple because that is what XXXX XXXX XXXX has reported to them. But again once my loan began the permanent loan modification XXXX should have updated my credit report to current under government loan modification and they failed to follow the guidelines. Both mortgage companies are for the same mortgage loans and no late payments are to be reported any longer on my credit report under the Home Affordable Modification guidelines being that I have successfully completed my trial payments and was than officially in the permanent loan modification, but both mortgage companies have complied with the federal guidelines. Also the amount of my mortgage payment is incorrect. According to my signed agreement of my Home Affordable Loan Modification agreement with XXXX XXXX XXXX no late fees were to be assessed during the FHA trial period but according to my statements a large portion of my trial payments actually went towards late fees. Both mortgage companies have also violated the terms of my Home Affordable act modification by failing to lower my principle balance as signed and agreed upon in my Home Affordable Modification agreement.In addition to both mortgage companies have also violated the agreement by failing to forgive my principle under the section Principal Reduction Alternative option as stated on my Home Affordable Modification agreement. In addition, Penny Mac violated my agreement by raising my interest rate instead of lowering my interest rate as originally stated in my original agreement with XXXX XXXX XXXX. I was paying 4.250 % with XXXX XXXX XXXX and signed to have my interest rate reduced as per the terms of the Home Affordable Act Modification guidelines. Instead of lowering my interest rate below 4.250 % as I originally signed and agreed upon on my Penny Mac instead raised my interest rate to 4.375 %. Penny Mac has communicated in writing that I have successfully completed my trial payments in XX/XX/XXXX and that my loan was in the process of having a permanent loan modification when the loan was transferred. According to federal guidelines whenever a loan is sold in the middle of a permanent loan modification the new loan company has thirty days to complete the loan modification application. Penny Mac failed to follow those guidelines and did not complete the final application until XX/XX/XXXX according to the Penny Mac representative and Penny Mac did not make the permanent modification official until XXXX XXXX. My escrow balance with Penny Mac has also been miscalculated. Penny Mac states that the mortgage company justification for raising my mortgage now a second time in XXXX to {$910.00} a month is due to XXXX XXXX XXXX under charging me for my escrow account in XXXX. Penny Mac than states that my property tax was raised again in XXXX, however, when I contacted the XXXX tax commissioner I was advised that Penny Mac is committing fraudelent activity by changing my escrow yet again because my property tax actually decreased for XXXX. The purpose of the Home Affordable Modification was to lower my monthly payment so that my payments could be more affordable for me. Instead I am paying almost {$200.00} more a month than when I originally had the loan. I went from paying {$720.00} a month to XXXX a month. Only by calling in and asking for a accurate analysis of my escrow was my mortgage even lowered down to {$880.00} a month. Apparently I was told the system did the wrong projection for XXXX, but that I still have to pay more because I was uncharged in XXXX and XXXX.I am requesting to have the principal reduction and interest rate reduction that I originally signed and agreed to in my Home Affordable Modification agreement. I am also asking to have all the terms of my Home Affordable Modification followed including removal of the late fees during my trial period. I am also asking for both mortgage companies to follow the guidelines of the Home Affordable Modification Program and to report my mortgage as current removing the late fees .I am completed my trial payments successfully. I have not only paid for my mortgage on time every month, but continued paying my mortgage even after my trial payments and during the seven months that my loan waited to go into the permanent modification that I was supposed to have already began in XX/XX/XXXX according to my loan agreement. I worked to hard and have come to far to reported incorrectly and to be treated unfairly.
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| 03/30/2021 |
Yes |
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
Servicemember |
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I wanted to take a moment of your time to share the experience I had with PennyMac because, to put it frank, the company needs to do better in the future.
I am an XXXX XXXX XXXX and I returned from a XXXX XXXX in the summer of XXXX. This meant that I now qualified for the VA loan and I was thrilled. Yes, it meant that I could buy a house but it was so much more than that for my husband and I. Weve been aspiring real estate investors for years now so having the VA loan gave us the jump start we were looking for. Wed put in the time to research the ins and outs of the business. We learned everything from the term house hacking, to what it means to include an appraisal gap in an offer letter ( something vital if youre going to be competitive in the XXXX XXXX market ). We thought we had predicted every curveball that could have been thrown our way. We thought of worst-case scenarios and how we would bounce back. We were ready. Or so we thought. What we didnt take into account was how terrible of a process it would be, working with PennyMac as a potential lender.
Let me back up just a bit to give you the full picture of what were dealing with. We currently own a property on the west side of XXXX XXXX. Its about a mile from downtown and we absolutely fell in love when we purchased it in XXXX of XXXX. The house wasnt in the best condition. It has orange hardwood floors, a navy blue kitchen, yellow walls.. .the list goes on. But we saw the potential in this property and went for it because we knew that we could breath life back into this XXXX gem. So, for 24 months we renovated this house. We didnt hire a contractor. We spent hours on XXXX and XXXX and we figured it out. Two years later and every room in the house has been completely renovated. When we werent renovating our house, we had our noses in real estate investment books with the XXXX XXXX podcast playing simultaneously in the background. We knew what we wanted and we were going to do whatever it took to make that goal a reality. Thats why in the spring of XXXX we reached out to our real estate agent and broker to let them know we were back in the market. We had laid out a plan to them. Now that we had renovated our current property, we could rent it out for about {$600.00} in cash-flow a month. Wed have the tenants pay down our mortgage and let the Colorado market get to work on building the propertys appreciation. This would give us the ability to purchase and rehab a new property, repeating our process. Wed only really change our strategy a bit. Wed find a duplex. Theres a little known secret thats becoming more and more well known now and thats house hacking. Wed live in the main unit of our new property while renting out the second unit. The tenants would pay for part of, if not all, of our mortgage payments. This frees up more of our funds for renovations and saving up for our next property.
In XXXX, we found the perfect property. It was about two miles from our current residence and, like before, it needed some major TLC. With about two years of renovation experience under out belt this time, it didnt intimidate us. We didnt worry about the floors, paint, our outdated kitchen. We cared that it was on a beautiful downtown street, surrounded by the most gorgeous Victorian homes. We set out to find the ugliest house on the prettiest street and we found it. We were sold almost immediately and put an offer on it that day. Everything was going according to plan until four days prior to closing. Our broker sent us an email with the subject line reading Problem with the Underwrite. He asked us to call him immediately. I thought that was a little concerning, considering our lender, PennyMac had already approved our loan nearly 10 days prior. Our concern for the situation only grew when our broker informed us that PennyMac was accusing us of homeowners fraud. You can probably imagine that sinking gut feeling that instantly overcame both of us. My first thought was, Why is this coming up four days before closing? and I thought we had already been approved? It was completely unprofessional and unacceptable.
So, for three days, we worked with our broker to try to convince PennyMac that we were in fact moving into this downtown duplex, a concept they simply couldnt get behind. We sent multiple letters of motivation. We sent them invoices for a storage unit we had purchase weeks before. It was full of our belongs because we were already mostly moved out of our current property. We sent them photos of the renovations we had done in the past. We even sent them the link to the XXXX, where our house had already been listed for rent. None of it mattered and 24 hours before our original closing date, PennyMac informed us that our loan would not be approved. They simply did not believe that we would choose to move into a house of lesser value than our current property. They were confident that we would be renting out the new house without ever living in it. This of course would be an issue, based off the loan we were taking out.
And just like that, the house that we had spent weeks dreaming and planning for was no longer going to be ours.
So PennyMac waited until four days before closing to accuse us of homeowners fraud. It didnt matter what we told them or what proof we sent them. It didnt matter that I was a veteran, trying to create a future for my family. Nothing mattered except their gut feeling about us. We have been upfront with PennyMac since we started the loan process 2 months ago about what our intentions were. I believe this is a UDAAP violation since PennyMac failed to inform us of any issues on our loan until four days prior to closing. This caused us to lose our {$4000.00} in earnest money and lose the deal on the house.
To the senior leaders of PennyMac, do better. I can assure you that I will be sharing this experience with my network of colleagues, so I truly hope your gut gets realigned soon. You will never again be considered when we are purchasing our investment properties across the Colorado region. Thank you for showing your true colors before we blindly went into business with you.
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| 02/19/2020 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
Servicemember |
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my account number is XXXX. I have been a loyal and satisfied customer of Penny Mack since your company purchased my loan. In XX/XX/2017, I was having a financial hardship do to my mother becoming ill and did not have adequate health insurance. I contacted Penny Mac to discuss my situation and the customer service representative recommend me to enroll into your loan modification program because I did not adequate funds to make my XXXX mortgage note.
I immediately contacted Penny Mac and explained my situation regarding my mother. The representative recommended me to request a loan modification to restructure my loan to offset bordon on the reoccurring and future medical expenses. Around XX/XX/2017, I paid Penny Mac {$1000.00} toward my loan as a partial payment. I filled out the Mortgage Assistance Application paperwork and provided all the required documentation ( s ). I finished all the requirements and monthly payments during the modification period. About 8 months later I checked my annual credit report and noticed that my credit score had dropped over a hundred points and Penny Mac was reporting me delinquent for 6 consecutive months. From XXXX XXXX you reported I was 30 days past due and 60 days past due in XXXX. During my investigation, I found out that Penny Mac did not disclosed all my options regarding the shortage in XX/XX/XXXX. He only recommended a loan modification as an option and accepted my partial payment of ( {$1000.00} ). Not at any time during this conversation he discussed taking funds out of my escrow to cover the remainder of my payment. He never discussed what is outlined your Partial Payment Policy referencing for escrowed loans, where you would accept a payment that is less than your periodic payment by an amount up to {$50.00}. Penny Mac could have taken money from my escrow account to make the full periodic payment. ( I had money in my escrow account to cover my payment ) He did not advise me that this may cause an escrow shortage in the future, which will result in an increase in my payment. He did not research and or advise me regarding the option to use a corporate advance, which will be billed to my account, to make the full periodic payment based upon the requirements of my loan documents, owner/ insurer/guarantor of my loan or applicable law, and depending on the status of my account ( which was CURRENT ), partial payments that are outside the tolerances described above may be promptly returned to me, applied to my account, or held in a non-interest bearing account until additional funds sufficient to equal a periodic payment are received. ( XXXX payment should have been sufficient to cover both months if my escrow was used ) During the whole modification process I complied with everything that was requested during the trial modification period. Penny Mac held my payments in an interest bearing account and not applied to my mortgage payment. I inquired why my payment statements keep going up are and the representative stated it just the computer. I also explained that poor credit can affect my credit score.
Penny Macs poor or vague business practices has caused my credit score to drop over 100 points, placed my total quality of life in jeopardy. This situation 1 ) has placed my job as XXXX XXXX XXXX XXXX XXXX XXXX XXXX in jeopardy. 2 ) Potentially have my security clearance suspended or revoked ; 3 ) other creditors are periodically looking at my credit report and some of my creditors have lowered my credit limits because Im now look at as a risk and this has affected my debt to income ratio ; 4 ) My car insurance just went up based upon credit worthiness. Because of my scores and delinquency history, I had to get loans from subprime lenders at an interest rate on 30 % to fix and upgrade my rental properties. I was denied to get approved for a cash out, HELOC or refinance my property. These events has caused extreme mental anguish and sleep denervation. I feel that Penny mac poor and deceitful business tactics has destroyed my life and right now it is hard to not see a light at the end of the tunnel. As a single parent and running one of four XXXX XXXX in the role of XXXX XXXX XXXX XXXX it is my duty to reach out to you with reason to rectify this issue. Im not asking for any money or credits to my account. Im requesting Penny Mac to correct my credit report because I was making timely payments and I also need the following information.
1 ) I am requesting a detailed letter referencing your final decision, who was involved in the decision process, policies/statues to support the decision to include procedures regarding depositing clients funds in non- interest bearing accounts without their I have great coping skills and I am really concerned about consumer practices that may appear to be Predatory. I think that there areas of misrepresentation ( s ) or deceit concerning the modification process. It appears that the only interested that is protected is the investor ( s ) and their company. I have served the great Nation for over 35 years, 24 years in uniform and 12 years XXXX XXXX XXXX. I have seen too many of my mission partners and warfighters give the ultimate sacrifice to preserve the American Dream. Right now I feel that my son and I are under hostile domestic fire from people who have lost sight that we are still at war. The question that comes to mind is has our American values dissolved to de-money verses Democracy. I feel it is my duty that brief Senior Leaders on the Hill, DOD and Department of Veterans Affairs regarding this matter because many of my Soldiers and Civilians have went this route. Financial problems is the second risk factor associated with suicide. Secondly, this correspondence, all documentation and your written reply will be forwarded to the Real-Estate Commission, XXXX XXXX XXXX, XXXX XXXX XXXX, and any news and veteran social media site to prevent this unjust action to happen to them. As a long-time customer in good standing, I respectfully request that they apply a goodwill adjustment to remove the late payments from my file.
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| 07/18/2023 |
Yes |
- Debt collection
- Mortgage debt
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- False statements or representation
- Attempted to collect wrong amount
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Web |
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I am contacting you about the PAHAF ( Pennsylvania Hardest Hit Funds ) for Emergency Mortgage Assistance for people who were hit during XXXX. My sons were approved for the Funds but the Program and PennyMac Mortgage are playing around to trying get us trapped into foreclosure. The Lying Loss Mitigation XXXX XXXX XXXX called me Friday after I had been speaking with XXXX Id number XXXX and the alleged Point of Contact XXXX XXXX whom I can not get on the phone anymore. Ext. XXXX is lying and has falsified the records that we owe {$57.00}, XXXX which is not true and inaccurate. {$2900.00} for Other unexplained fees which are believed to be unlawful attorney 's fees they are trying to collect for the times during the Pandemic they attempted to foreclose when they were forbidden by laws and Executive Order from doing so. Also, banks were forbidden by law to charge interest and late fees during the Pandemic and the above alleged outstanding amounts include those fees as well. Prohibited Acts in violation of the CARES ACT. These are fees and overcharging that were their own fault, not ours, and unenforceable by law. I made a complaint against them to the Consumer Financial Protection Bureau and XXXX XXXX called himself responding on behalf of the Company and None of the Payments we made after they lied and mislead us that we had no more forbearances when the Emergency was not considered over by Executive orders of the Governor of this and many other States and the President of this Country. XXXX wrote that we had a payment made of {$4800.00} which did not include our XX/XX/XXXX payment of {$1200.00}. XXXX Reference Number XXXX and our Payment of XX/XX/XXXX that came from my son XXXX XXXX reference number XXXX of {$1200.00} and XX/XX/XXXX Reference number XXXX for {$1200.00} and a Payment that was made on XX/XX/XXXX for another {$1200.00} that was paid on another account that was closed to use but they received because we paid before it would have been considered late XX/XX/XXXX. In all, we paid PennyMac a total of {$6100.00} and only {$4800.00} according to XXXX XXXX and XXXX XXXX XXXX XXXX XXXX XXXX tried to lie to me that she only saw XXXX payment in XXXX of XXXX from XXXX XXXX in the amount of {$1200.00}. I knew she was lying because I had just got the response back from XXXX to the CFPB XXXX. Minus the {$6100.00} from the alleged inaccurate amount of {$57000.00}, the outstanding balance would be {$51000.00} and less than that when you take out the unlawful overcharges interest they are forbidden by law to charge and the illegal attorney 's fees they attempted to collect for FEES NOT EARNED of {$2900.00}, the Balance would be well under {$48000.00}. For we were approved by the PAHAF for the grant of {$50000.00} PENNYMAC is refusing because of the inaccurate amount they have erroneously assessed against us without the credit of the amounts we already paid and tended to them during Post Pandemic.
PENNYMAC is supposed to have people designated to speak and deal with the PAHAF program for the people who have gone through the process, but they keep on switching people over and over again so that the Customer can never speak to the same person about the matter to get it handled to frustrate the borrower. There is no real One Point of Contact person to handle any of the matters for the people who have experienced Financial Hardship due to XXXX. PENNYMAC customer service team and people have a habit of Lying and misrepresenting information to the Customer and changing the narrative in their inner office comments that the People can never see and dispute against and they attempt to go to FORECLOSURE WHILE HOLDING ON TO THE BENEFITS OF LIES AND MISREPRESENTATION TO THE UNEXPECTING BORROWER. PENNYMAC is in violating the Cares Act for failing to report accounts accurately to the Credit Bureaus for they show amounts Greater than what is owed to the Consumer Reporting agencies against the borrowers affected by XXXX so they can not get better deals elsewhere with other lending institutions, unfairly & deceptively impeding interstate commerce and impeding competition unfairly against the rules and laws of the Pandemic and the Market Place. Rendering Oppresive services that not only violate the Cares Act but also violate basic human rights and unlawfully place jeopardy of losing their homes due to their faulty and inaccurate accounting that they purposely and intentionally attempt to raise and overcharge the customer because they are the only ones that hold the information.
PENNYMAC NEEDS TO BE HANDLED AND STOP. THE PAHAF DO NOT HOLD THEM ACCOUNTABLE AND THE PAHAF TAKE A SLOW TIME IN PROCESSING THE FUNDS ON THEIR END WHICH ALSO PLAYS A PART IN PUTTING THE RECIPIENTS IN HARMS WAY.
Here is our proof of Payments that was never accredited to the alleged delinquent amount. Therefore we owe less than any {$50000.00} so the funds can be paid out. Here is the XXXX Bank Statement of XXXX in which I know they did not accredit the account and they did not credit the XX/XX/XXXX payment of {$1200.00} and XX/XX/XXXX payment of {$1200.00} or XX/XX/XXXX payment I'm pretty sure was {$1200.00} for a total of payments made of {$6100.00}, and there is unlawful charges of attorney fees that they are erroneously attempted to charge that is illegal and unenforcible by the CARES ACT AND THE PRESIDENT & GOVERNOR 'S EXECUTIVE ORDERS THAT THEY CAN NOT CHARGE IN THE AMOUNT OF {$2900.00} that you all need to demand and insist they move and other illegal interest charges hidden in the fees that they were not allowed to charge by law during the Pandemic that must be removed as well that would bring the account way under the amount to be paid out and we obtain a couple of additional months of payments so we won't be slammed into owing right now after the account be properly accredited. You said to show you that we have brought the account into the approvalable amount of the grant. Now I am showing you.
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| 10/28/2022 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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PennyMac ( PM ) is attempting to extort me by trying to make me financially responsible for over {$13000.00} ( not including other erroneous fees, default, negative credit impact, eviction, etc. it has continued to threaten with ) due to its own mismanagement my mortgage account and escrow all of which is the result of PMs own internal actions performed without of my control, knowledge, or consent.
I closed on this loan on XX/XX/XXXX and since then my loan has always remained current with mortgage payments made on-time through XX/XX/XXXX, and XX/XX/XXXX would have also been paid on-time had it not been for the current inability to pay it online due to PM messing up my account as explained below.
When I logged into my account in XXXX to pay my mortgage bill due XX/XX/XXXX my account said the payment had already been made by PM on XX/XX/XXXX and the next payment due was XX/XX/XXXX ( see attached screen shot ). This was also consistent with the following months statement I received dated XX/XX/XXXX. As a result of the information I received from PM at the time and b/c there was no way for me to make the XXXX payment online I reallocated those funds and continued to make my payments on-time accordingly for XXXX ( due XX/XX/XXXX paid XX/XX/XXXX ) and XXXX ( due XX/XX/XXXX and paid XX/XX/XXXX ). On XX/XX/XXXX, I received a letter from PM saying my XXXX payment was overdue, so I emailed PM via its internal portal to inform that payment had already been made on XX/XX/XXXX and that I would be making the XXXX payment the same day in keeping with my on-time payment schedule. As a result, my next payment due is XX/XX/XXXX ; however I have been unable to make this payment online because the system is trying to force me to make a second XXXX payment even though that was already paid on XX/XX/XXXX.
After 2+ months of un-responsive, untimely, inaccurate, and inconsistent information from PM servicing associates this issue is still unresolved and I have not been able to make my XXXX payment online. Therefore, to continue to make payments I was forced to mail in checks yesterday ( USPS Tracking # XXXX XXXX XXXX XXXX XXXX XXXX ) for both my XXXX and XXXX payments ( each {$4500.00} respectively ) along with a letter directing PM to only apply these funds to the XXXX and XXXX monthly bills and not to any of the disputed amounts noted herein. I dispute owing PM any monthly mortgage payments outside of the XXXX and XXXX payments that will be paid via the above mentioned mailed checks. Any internal mismanagement of accounting and/or escrow by PM throughout the course of my account history is its sole responsibility to resolve financially.
PM also sent me an annual escrow analysis review letter dated XX/XX/XXXX ( see attached ) that said my new mortgage payment amount would be {$4500.00} starting XX/XX/XXXX and I was due an escrow overage of {$6900.00}. The escrow overage was applied to my bank account by PM on XX/XX/XXXX. PM has subsequently alleged this was in error due to some accounting mismanagement on their end. These funds have also since been reallocated according to information from PM, and I dispute owing PM any monies related to this escrow overage.
Additionally, PM is now alleging I also owe them a second PMI premium payment of {$8800.00}. At closing I paid my {$8800.00} PMI premium to PM upfront as reflected on my settlement documents. Per a letter I received from PM dated XX/XX/XXXX and XXXX statement dated XX/XX/XXXX it is claiming I owe this same PMI amount to them again due to some account mismanagement. I dispute owing PM these monies as they were already paid in full at closing and any internal mishandling of these funds on its part is its sole responsibility to reconcile financially.
Furthermore, in researching my account history as part of this dispute I see that PM has been misrepresenting its own transactional history. It has been retroactively adding new transaction line items with dates that are not consistent with the transactional information made available to me at that time. For example, the XXXX statement I received ( dated XX/XX/XXXX ) shows only 4 transaction line items during that period ( which was also reflected on my online account at that time ) ; however the latest transaction history on my account for that same period now shows 6 transaction line items for the same period. All also showing differing escrow and principal balances.
In this same vein, I am supposed to receive servicing correspondence electronically and mail based on my preferences. Throughout this dispute period Ive been receiving most information via mail only, and then subsequently later on PM will load documents electronically after the fact but with an upload date that are not consistent to when the document was assessable to me electronically.
PMs practices are unacceptable and unethical, and I dispute owing them any monies outside of the XXXX and XXXX mortgage payments that I have mailed checks for. Today, I received a call from PM Representative ( who clearly had no context on the history of the situation ) threating the loan is going to be put into default, my credit ruined, and evicted if I dont pay these disputed amounts that are the result of PMs own account mismanagement. Today I also received a Notice of Default and Intent to Accelerate letter dated XX/XX/XXXX in the mail ( see attached ) ( which I note has not be provided to me electronically as required by my communication preferences ). I have been told both verbally and in writing by PM throughout this dispute that my account was flagged internally that would prohibit such behavior.
This is extortion and these sorts of threats have been continuous throughout this dispute.
As someone who has made 100 % of its payments on-time to PM across two different mortgage loans, I do not appreciate this treatment, nor the impact it is negatively having on my life and health.
Please investigate.
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| 11/24/2021 |
Yes |
- Debt collection
- Other debt
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- Attempts to collect debt not owed
- Debt was result of identity theft
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Web |
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Dear Sir/Ma'am 1. PENNYMAC Account XXXX Please correct this inaccurate information on my credit report. I recently pulled my credit report from your Bureau and my attorneys and I had a chance to go over my credit report and in amazement, that you have decided to report me 60 days late on this account in XX/XX/XXXX, as wells 30 days late on XX/XX/XXXX and 60 days late on XX/XX/XXXX.
I immediately disputed this information with PENNYMAC and the results of the investigation came back " verified ''. Not only was I never late on this account, but according to the Fair Credit Reporting Act ( FCRA ), the information furnisher is required to notify me of the insertion of negative listings. Since I have disputed the lates with the creditor, and you obviously " verified '' them, I am very curious as to what kinds of " records '' you may have for this alleged account. I am very confident that you are in violation of the ( FCRA ) and ( FCBA ) sections ( 1666, 1666a. 1666b., and 1666c. ) as stated below : 1666. Correction of billing errors ( b ) Billing error ( 4 ) The creditor 's failure to reflect properly on a statement, a payment made by the obligor or a credit issued to the obligor. ( 5 ) A computation error or similar error of an accounting nature of the creditor on a statement. ( 6 ) Failure to transmit the statement required under section 1637 ( b ) of this title to the last address of the obligor which has been disclosed to the creditor, unless that address was furnished less than twenty days before the end of the billing cycle for which the statement is required. ( 7 ) Any other error described in regulations of the Bureau. 1666a. Regulation of credit reports ( a ) Reports by creditor on obligor 's failure to pay amount regarded as billing error After receiving a notice from an obligor as provided in section 1666 ( a ) of this title, a creditor or his agent may not directly or indirectly threaten to report to any person adversely on the obligor 's credit rating or credit standing because of the obligor 's failure to pay the amount indicated by the obligor under section 1666 ( a ) ( 2 ) of this title, and such amount may not be reported as delinquent to any third party until the creditor has met the requirements of section 1666 of this title and has allowed the obligor the same number of days ( not less than ten ) thereafter to make payment as is provided under the credit agreement with the obligor for the payment of undisputed amounts. ( b ) Reports by creditor on delinquent amounts in dispute ; notification of obligor of parties notified of delinquency If a creditor receives a further written notice from an obligor that an amount is still in dispute within the time allowed for payment under subsection ( a ) of this section, a creditor may not report to any third party that the amount of the obligor is delinquent because the obligor has failed to pay an amount which he has indicated under section 1666 ( a ) ( 2 ) of this title, unless the creditor also reports that the amount is in dispute and, at the same time, notifies the obligor of the name and address of each party to whom the creditor is reporting information concerning the delinquency. ( c ) Reports by creditor of subsequent resolution of delinquent amounts A creditor shall report any subsequent resolution of any delinquencies reported pursuant to subsection ( b ) to the parties to whom such delinquencies were initially reported. 1666b. Timing of payments ( a ) Time to make payments A creditor may not treat a payment on a credit card account under an open end consumer credit plan as late for any purpose, unless the creditor has adopted reasonable procedures designed to ensure that each periodic statement including the information required by section 1637 ( b ) of this title is mailed or delivered to the consumer not later than 21 days before the payment due date. Because I take my credit very seriously, I contacted every name and account that was listed on the report. I was again very shocked by the multiple names, account numbers and figures. Included with this letter, is every letter written to those who have hampered my ability to obtain credit. I believe that any judge that looks over the report would agree that it is a violation of both the FCRA, CCPA and FACTA. The following accounts were listed on your report and I have demanded from them a full accounting and five years worth of records to see if their accounts were in violation of the FAIR CREDIT BILLING ACT ( FCBA ). We also demanded signed contracts, agreements or any legal paperwork that would tie us to the following accounts. Under the FCRA, you are required to conduct an investigation on this account if I request it. I DEMAND to see all 100 % verifiable proof that I was indeed Verifiably late on these accounts and the creditor fulfilled its obligations under ( FCBA 1666 ( a ) ( 2 ) ), As I was never notified of a billing delinquency on my accounts, which the creditor must do under section ( FCBA1666 ( b ) ( 6 ). I DEMAND to see proof that I was mailed my statement to the correct address notifying me of both payment due date and delinquency of payment on the account. If you can not provide 100 % Verifiable proof and proper documentation that the CREDITOR fulfilled its obligations under the ( FCBA ) and ( FCRA ), I therefore demand these late payments be removed from my account or I will be forced to be in contact with the Attorney General of my State and the Consumer Financial Protection Bureau. I therefore am submitting my written request to you to conduct an investigation. Per the FCRA, you have 30 days to conduct this investigation and respond to my request. If you do not respond within this time period, per the FCRA, you must remove this negative information. Thank you for your time, XXXX XXXX SS # : XXXX Date of Birth : XX/XX/XXXX XXXX : Consumer Financial Protection Bureau XXXX XXXX XXXX XXXX XXXX, Iowa XXXX
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| 11/04/2020 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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I am writing to you in attempt to correct the error to my mortgage servicing since XXXX of XXXX regarding my forbearance plan due to COVID 19. I entered a forbearance plan in XXXX of this year, and requested to end my forbearance in late XXXX. This original deferment included my XXXX payments with my next scheduled payment due XX/XX/XXXX. I was told in XXXX of XXXX as I requested to end my forbearance that I could make a payment anytime between when I requested my modification and my next due date which was set as XX/XX/XXXX and that the payment made would count toward my currently required XXXX payment pushing my next required payment to XX/XX/XXXX.
This was not the case, I was told in XX/XX/XXXX that once I made what I understood to be my regular payment for XX/XX/XXXX on XX/XX/XXXX after requesting to end forbearance, that payment was instead applied to the XXXX balance owed during the forbearance plan, and they then only deferred 4 months of payment ( XXXX ) in the paperwork for my modification/deferral despite the information I was given upon requesting the end of my forbearance. I was not made aware of this until after the grace period for XXXX due to the extensive amount of time it took for the modification paperwork to be completed. After the modification paperwork was completed I called to inquire as to why I was still showing as past due for XX/XX/XXXX.
After it was explained to me that they applied the payment differently than I was told it would be applied I was told that this was an error on Penny Macs part of misinformation. I was then given a 4 month run around from several people in several departments none of which seem to know how to fix the problem. I have been told so many things by so many company representatives that I have had to record the phone calls with Penny Mac due to the lack of reliability of the information I have received.
My understanding to date is that I have been told that the deferral/loan modification paperwork must be redrawn and that instead of XXXX being included in the deferment, they are leaving the previous XX/XX/XXXX payment to count toward XXXX and redrawing the deferment paperwork to include the full 5 months of originally requested forbearance with XXXX included in the corrected deferral in accordance with the information I was originally given regarding my loan modification.
I was told that this was possible several times in XXXX of XXXX and since then I have had multiple different representatives tell me : that is it possible, it is not possible, they dont have the authority to do this, penny mac does have the authority to do this, and that the redraw paperwork was drafted and sent to XXXX XXXX for approval in early XXXX because penny mac cant approve it, that paperwork was approved by XXXX XXXX in late XXXX, and then most recently that a redraw hasnt been drafted at all. I have also been assured several times that my credit has not and will not be reported negatively in any way. I have spoken to : Modification point of contact : XXXX XXXX, XXXX XXXX, XXXX XXXX, Collections : XXXX, and supervisor to modifications : XXXX XXXX ex XXXX, XXXX XXXX in TX ex XXXX, XXXX XXXX, and XXXX XXXX.
To make things more complex, I received my escrow analysis letter in XXXX of this year prior to ending forbearance stating that there was a shortage. I also received a notice from my homeowners insurance that my homeowners ins was not paid out of escrow and that the policy was going to expire if not paid by my mortgage servicer. I had to call in XXXX to the Escrow department for a payment to be sent over to ensure that my insurance coverage did not expire because PennyMac didnt pay the premium while I was in forbearance. At that time in XXXX I specifically asked the rep if I needed to pay the {$46.00} escrow shortage, and they told me not to pay it because my monthly payment would likely change during the post forbearance period, and that if they took the escrow shortage payment then it would most likely be credited toward the balance in forbearance and not to the escrow shortage and my payment would change anyway.
Once my deferment payment was calculated the first time I was told that my payment was still XXXX, and they did not draw up the modification to take into account that my payment had changed due to escrow shortage. When talking to one of the reps in XXXX he informed me that my payment had changed due to the escrow shortage and that the XX/XX/XXXX XXXX payment I paid was less than required. He then told me to correct the problem that I could make an additional payment on XX/XX/XXXX that would be applied to the escrow shortage correcting the problem. I made a payment of XXXX on XX/XX/XXXX with this understanding. I called on XXXX and was told that this XXXX payment was applied to late fees instead. Late fees that I should not have been accruing had the deferment process been corrected in XXXX like I was told it was. Since I was told of the increase in my monthly payment I have since made my XXXX XXXX and XXXX XX/XX/XXXX, XX/XX/XXXX, and XX/XX/XXXX payments on time over the phone because it will not let me make them online.
I have been told since XX/XX/XXXX that my incorrect deferment and subsequent mismanagement of processing was an error on PennyMacs part, and that it is being or has already been corrected. I have not been able to confirm this in any way despite multiple representatives telling me otherwise. I am still receiving collection calls, and letters stating that my credit will be reported negatively if I do not bring my account current. I also show late fees assessed online that should not apply due to the incorrect deferment, and the currently pending redraw.
I have called upwards of 10 times to speak with representatives in multiple departments at PennyMac 's phone services and to this date Penny Mac has not conducted any action to correct these errors.
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| 05/17/2021 |
Yes |
- Mortgage
- Conventional home mortgage
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
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My name is XXXX XXXX XXXX. I am writing you about for the Refinance of XXXX XXXX XXXX, XXXX XXXX, SC. XXXX.
I called in to start a Refinance Application on XX/XX/XXXX. XXXX XXXX took the application and helped me submit some of the original documents to start my file. After that Every time I received an email needing anything, I was quick to give upload it. Many times, I got many emails wanting duplicate items. I would call and talk to someone who was not XXXX or XXXX, then by the time I would talk to XXXX, she would say that whoever went into your file started moving things around, prompting the computer to ask for the same stuff repeatedly. I gave my rental house lease that started the beginning of XXXX. Everything was cleared.
Then yesterday I got this message PROVIDE YOUR DOCUMENTS XXXX, There are 5 open document request ( s ) that need your attention.
Please provide the documents listed below by securely uploading to our sign portal as soon as possible. Social Security Income : Please provide documentation to support that Social Security benefits in the amount of {$510.00} paid to XXXX XXXX for the benefit of XXXX XXXX will continue for a minimum of three years Social Security Income : Please provide documentation to support that Social Security benefits in the amount of {$1300.00} paid to XXXX XXXX for the benefit of XXXX XXXX will continue for a minimum of three years Social Security Income : Please provide documentation to support that Social Security benefits in the amount of {$680.00} paid to XXXX XXXX for the benefit of XXXX XXXX will continue for a minimum of three years Expired Asset Document 1 : Please provide updated combined bank statement for XXXX XXXX XXXX accounts. Current document dated XX/XX/XXXX expires XX/XX/XXXX.
Social Security Income : Please provide some type of documentation to support that Social Security benefits in the amount of {$680.00} paid to XXXX XXXX for the benefit of XXXX XXXX will continue for a minimum of three years Upload w/ eSign If you uploaded your documents in the last 24-48 hours, they may still be under review. As soon as we receive any documents, our m.a.c team immediately begins the review process. If we have any questions, we'll contact you.
XXXX XXXX Your m.a.c Team PennyMac Loan Services , LLC NMLS ID # XXXX XXXX ( XXXX ) Monday - Friday, XXXX XXXX. to XXXX XXXX PST So, I then called PennyMac, and XXXX began trying to see what was going on. And all of a sudden, she called me back and told me that my application as been declined. I asked why, I just got this 48 notice today, and she said she said it had something to do with my rental being vacant. I told them it has been rented since XXXX of XXXX. I began getting all the documentation that no one ever asked for and began sending it. EVERYTHING I could find. My tenants wrote up something stating when our lease started, I provided my bank statement showing the money going in. I provided a statement from my managers portal showing all the money that came in from this tenant from XXXX XXXX XX/XX/XXXX. There is NO REASON my application should have ever gotten declined.
I have clearly documented rules from XXXX XXXX and PennyMac and some SC statutes when it comes to our rights in SC in Refinancing.
SECTION 37-23-85. Compliance failure.
A lender of a consumer home loan who acts in good faith but fails to comply with this article does not violate this article if the lender establishes that either : ( 1 ) within forty-five days of the loan closing and before the institution of an action pursuant to this article, the lender notifies the borrower of the compliance failure, makes appropriate restitution, and makes necessary adjustments to the loan to make the consumer home loan satisfy the requirements of Section 37-23-70, 37-23-75, or 37-23-80 ; or ( 2 ) the compliance failure was not intentional and resulted from a bona fide error, notwithstanding the maintenance of procedures reasonably adapted to avoid those errors, and within ninety days after the discovery of the compliance failure and before the institution of an action pursuant to this article or the receipt of written notice of the compliance failure, the lender notifies the borrower of the compliance failure, makes appropriate restitution, and makes necessary adjustments to the loan to make the consumer home loan satisfy the requirements of Sections 37-23-70, 37-2375, and 37-23-80. Examples of a bona fide error include clerical, calculation, computer malfunction and programming, and printing errors. An error of legal judgment with respect to a person 's obligations pursuant to this article is not a bona fide error.
HISTORY : 2003 Act No. 42, Section 1, eff January 1, 2004, and applying to loans for which the loan applications were taken on or after that date I have sent all the other documentation through the portal from PennyMac, XXXX XXXX also. There is ABSOULUTLY NO REASON I SHOULD HAVE GOTTEN A DENIAL. I MET EACH and every documentation you asked for me. The communication never got to my loan officers to let me know what you needed when you needed it. Especially THIS APPRAISAL. They SHOULD HAVE GOTTEN THE DOCUMENTATION RIGHT AFTER THE APPRAISAL SAID THERE WAS A YEAR CONTRACT. WHICH YOU GOT FROM ME THAT CLEARLY STATED IT BEGAN IN XXXX XXXXXXXX XXXX THE ONLY REASON I HAD TO SEND it yesterday was my loan officers told me they were never asked to have me provide it, there fore they never asked for it. And it appears THEY declined me on a violation that never happened.
Please look at each documentation. These were NEVER asked of me. I provided this after the last email that said I had 24-48 hours to send the SS like I have had to do so many times. So, I sent in the proof that My rental that I am trying to refinance was being rented since the beginning of XXXX.
Please help me.
Sincerely, XXXX XXXX XXXX
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| 11/25/2017 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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XXXX/XXXX/XXXX I opened a letter dated XXXX/XXXX/XXXX from an attorney ( XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX representing PennyMac. The letter stated that we owed {$8000.00} and also mentioned foreclosure. I called the attorney 's office and told them I was not on the loan and not aware that we had missed any payments and could show them my bank statements where it comes out automatically. I asked how to correct the situation. Our home is in active foreclosure effective XXXX/XXXX/XXXX. He informed me that he would have to request the amount due and it should take 3 - 4 business days to get the letter with the amount due. I also called HUD to speak to someone about my options.
It seems that this was all because PennyMac started an escrow for our property taxes in XXXX, which we had been paying ourselves. My XXXX tax payment to the county was not processed prior to month-end and so an additional amount of {$7.00} was owed for XXXX. In XXXX XXXX, I spoke to someone and was told to mail in {$100.00} to clear the escrow account and so I mailed a check for {$100.00} and assumed that cleared the matter. Apparently, XXXX did not clear the escrow account and issued payment of XXXX property taxes in XXXX XXXX XXXX first month they were published ) - {$5100.00}. They established an escrow account and increased our monthly payments, but I was not aware and the original payments continued to be paid monthly.
It seems like an easy solution, let me pay the {$5100.00} paid on our behalf plus any interest or fees to stop the foreclosure and clear the escrow account. So, on XXXX/XXXX/XXXX I paid {$3000.00} to PennyMac through my bank 's bill pay service. I made several attempts to call PennyMac and finally spoke to someone on XXXX/XXXX/XXXX. I asked for the dollar amount to be paid and told the representative ( XXXX was the 4th and final rep I talked to that day ) that I had requested an amount from their attorney on XXXX/XXXX/XXXX, but had not yet received the letter that he had mentioned. She stated that I should have been talking to PennyMac and not the attorney representing them. I tried to explain what I understood had happened and was prepared to pay and had already sent {$3000.00}, but figured that I would owe fees or interest to clear the escrow account. She stated that they did not have to accept the {$3000.00} and could return that amount because it was an active foreclosure. The P & I payments had never been late, and it was all due to an escrow account being added when it should have never been added. I asked her my options and she stated that she would have to request a letter to be mailed and it could take 10 business days and the foreclosure would continue to move forward.
On XXXX/XXXX/XXXX, I received a reinstatement letter dated XXXX/XXXX/XXXX but the {$12000.00} and {$12000.00} if paid in 2 weeks amount did not show the {$3000.00} payment and so I called to ask if I could just pay the amount quoted less the {$3000.00} and was told not to do that and that a new letter would have to be requested and mailed to me and the foreclosure would continue to move forward.
On XXXX/XXXX/XXXX, I called and was quoted {$10000.00} over the phone and told that it was good through XXXX/XXXX/XXXX. I questioned the amount and was told that the letter would show me a breakdown, so I waited to receive that in the mail.
On XXXX/XXXX/XXXX, I received the 2nd letter showing the {$3000.00} payment and the amount was {$9600.00} for option 1 and {$10000.00} for option 3. The $ XXXX amount included an additional {$700.00} of " anticipated foreclosure fees ''. I called to question the {$700.00} and asked if I paid it and it was not owed, would I get a refund. I was told I would not get a refund and could pay the $ XXXX amount and if additional fees were incurred, I would still owe them. On XXXX/XXXX/XXXX, my bank processed the {$9600.00} payment to PennyMac.
In the meantime, I paid the XXXX property taxes in XXXX XXXX and have a receipt of payment. However, PennyMac also shows that they paid the property taxes on XXXX/XXXX/XXXX. The XXXX County Tax Office stated that they do not show receipt of that payment and they would return it with a letter and then keep a copy of the letter on file. The clerk stated that she did not show any such letter on file. PennyMac claims that they do not show a refund either and that I still need to pay them for the property taxes and bring the loan current before an escrow account can be removed.
On XXXX/XXXX/XXXX, I received a call from PennyMac and so returned their call. Told him of my intent to clear escrow account and that my bank has already taken {$9600.00} to pay PennyMac electronically. He did not see it posted yet and advised me to call back on Monday afternoon to verify payment. He did not see a refund for the property taxes that PennyMac shows they paid on XXXX/XXXX/XXXX either. He was not sure the $ XXXX payment would be accepted and told me that they could refuse the payment since it was in active foreclosure.
I am filing this complaint because I believe that PennyMac is making every attempt to foreclose on my home, rather than work with me. I had sent a secure message after speaking to XXXX so that I had something on file showing that I had requested a payoff on XXXX/XXXX/XXXX through their attorney and received nothing and so I was not feeling very confident that I would receive a letter when XXXX said that she would request one. The response I received was that I should tell my attorney about it. Again, not making me feel that they are wanting to work with me. Am I dealing with a mortgage company that is more interested in foreclosing on my home than working with me?
The payment history does not even show a reduction in principal for P & I payments received. Where is my money going ( see attached ).
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| 04/27/2018 |
Yes |
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- Struggling to pay mortgage
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Web |
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My husband passed away and I am his confirmed successor in interest ( document with confirmation from servicer, Pennymac Loan Services, LLC is attached ). My home is currently in foreclosure. I would like the servicer to give me information for all available loss mitigation options which are available to me so that I can assume the loan if it is economically feasible to do so. I would also like for them to follow CFPB final rule regarding successors in interest and the Ability-to-Repay Rule when assuming the loan of my deceased husband. Since this would not be a standard assumption my ability to repay should not prevent me from assuming the loan.
I would also like a list of the criteria required to qualify for each loss mitigation option so that I may know which ones that I would qualify for. I have made countless efforts to receive assistance from Pennymac. They have sent several notices indicating that they are able to assist me with this, however, when I contact their customer service department, no one has been capable of helping me accomplish this.
On XX/XX/XXXX I received a call from XXXX, a representative from the Pennymac Research Department, who informed me that I have been confirmed as the successor in interest for property XXXX XXXX XXXX, XXXX XXXX, CA XXXX. I was advised by XXXX that I can now receive the necessary assistance regarding this home. He provided me the number to customer service. On that same afternoon I contacted Pennymac customer service and spoke with a customer service representative. I asked for available loss mitigation options. The representative indicated that I needed to speak to XXXX XXXX and provided me with her extension number and then transferred me to her voicemail. I left a message on XXXX voicemail. On the message I stated that I am interested in available loss mitigation options. I waited one week for a return call from XXXX, but never received one. On XX/XX/XXXX I called Pennymac customer service and spoke with a representative by the name of XXXX. I requested to speak to XXXX XXXX and XXXX offered to assist. I advised her that I need loss mitigation options. She placed me on hold to contact the correct department that could help me. While I was on hold the call disconnected. I immediately called back and spoke with XXXX who advised me that I need to speak with the Pennymac bankruptcy attorney, XXXX XXXX, in order to get loss mitigation options. I had filed bankruptcy as a result of loss of income due to my husbands death and in an effort to be able to afford mortgage payments. I contacted the Pennymac bankruptcy attorneys office and spoke to a representative who advised me that I need to speak to XXXX Oh and she then transferred me to the voicemail of XXXX the attorneys assistant. I left a message advising XXXX that I need loss mitigation options and also provided my telephone number. On XX/XX/XXXX after not receiving a call back from the attorneys office, I called Pennymac customer service again and spoke to XXXX. XXXX stated that XXXX XXXX could assist me with a workout agreement, and she provided me with her number. XXXX XXXX is an attorney who represented Pennymac concerning establishing the successor in interest for the property so she was not the correct person to contact. On XX/XX/XXXX I contacted XXXX XXXX office again and spoke with XXXX. I advised her that I needed loss mitigation option and she stated that their office would mail me loss mitigation information. On XX/XX/XXXX I received a letter by mail from XXXX XXXX office that indicated that if I email them my financial information, they would forward it to Pennymac for processing ( letter attached ). On XX/XX/XXXX I emailed the requested financial information to XXXX XXXX at XXXX XXXX XXXX XXXX. A few hours later I received an email from XXXX XXXX indicating that he had forwarded my information to Pennymac and that they would like me to call them ( email attached ). I then called the number that XXXX provided and spoke to a representative by the name of XXXX. I told XXXX that I am calling for loss mitigation options. He told me that I need to contact the bankruptcy attorney. I advised XXXX that Ive already been in contact with the bankruptcy attorney and that the attorneys office advised me to call Pennymac for further assistance. XXXX tried to assist, but said that his computer would not process my information for loss mitigation because I am in active bankruptcy and he recommended that I contact the bankruptcy Trustee for further assistance. I emailed XXXX XXXX again to let him know that Pennymac cutomer service was unable to assist me and asked him if there was a specific person or department that I needed to contact. I have not received any response from XXXX XXXX to date. On XX/XX/XXXX I sent a fax to the Pennymac Correspondence Department at XXXX. The fax included the letter from the Attorney, the email from XXXX XXXX, and a brief explanation of what I needed assistance with. I have not received any response from this department to date. Also on XX/XX/XXXX I called XXXX customer service again and spoke to XXXX and explained everything that had happened up until that point and told her that I need loss mitigation options. XXXX stated that she needs to locate who the bankruptcy attorney sent my information to. She couldnt determine who received my information and that she would send an email to XXXX to see if that department received my information. She said he is a bankruptcy processor. She said that I should receive a call back within 24 hours. I have not received that call back to date. I also sent a loss mitigation package to Pennymac with all of the required documents. Pennymac returned the package and indicated that they will not process it.
Sincerely, XXXX XXXX Phone : XXXX Email : XXXX XXXX
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| 12/23/2019 |
Yes |
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- Struggling to pay mortgage
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Web |
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I have a FHA home loan and PennyMac purchased the loan before a month after closing with XXXX XXXX XXXX. PennyMac has been trying to Foreclose on my home and has been for the past three years, stating I am 1300 days plus past due. When I purchased home, the loan officer made false claims on the application, and my Relator and the sellers did NOT disclose information about the property ; if they did, FHA would not have approved. There is thousands of dollars in hidden fees and many other fees that I have been trying to dispute. Due to financial hardship less than a year after buying I applied and was approved for HAMP in XXXX. At time of hardship modification, the 30 year FIXED APR at 3.75 % increased to 4 % with FHA hardship ( All FHA guideline and regulatory requirements states interest rates will not change with a modification unless the are decreased and can be dropped as low as 2 %, never had I found where and FHA loan modification interest rate can be INCREASED. Also I had to file bankruptcy in XXXX, and while in bankruptcy ( chapt XXXX ) PennyMac charged bankruptcy fees property inspection fees foreclosure fee title fees you name it, The fees totaled together add up to $ XXXX plus dollars, plus the increase in interest rate. While a person is in bankruptcy they legally can not be charged any fees. In XXXX, the bankruptcy lawyer was able to get PennyMac to reverse around {$6000.00} in fees. The fees continued, and for reasons that are not known to me ( with evidence to support my statement ) the bankruptcy was dismissed in XXXX ; PennyMac called me before I received any legal notice about the Chapter XXXX dismal ; asking how I planned to pay {$18000.00} within 10 DAYS, I replied that I was paying the trustee to pay arrears and making payments on my own that were to go to current loan ( not arrears, which was court orders ), therefore any and all payments since XX/XX/XXXX ( bankruptcy filed ) PennyMac states no payments ever received. Life happened and I have a dependent ( which I have not been able to get the XXXX XXXX XXXX XXXX to ever enforce in 8 years ) and lack of involvement and the abuse I have to endure when trying to communicate with the other parent of my dependent has lead me to not be able to work many times, and I have a XXXX, XXXX with certifications, and 10 years XXXX XXXX XXXX. Due to my credit, bank accounts being hack, information data BREACHES ( not one but a few ) and PennyMacs HARD Inquiries and reporting failure to make payments when I and trustee where paying, has ruined my credit! I know the EEOC states its illegal to discriminate hiring a candidate based off credit ) but many company look at the credit in their background reports, and this is the only reason I can think of as to why its been so hard for me To find a good XXXX job! Last years when my EIC was ONLY {$16000.00} total for XXXX, I was Seeing work and receiving unemployment which I had to appeal 3 times, but DID finally win and had to win to receive financial assistance through the XXXX XXXX XXXX through XXXX XXXX XXXX XXXX unemployment bridge program. I was awarded ( and have the award letter and ALL correspondence to prove everything I am stating ) {$15000.00} ( maybe {$18000.00} ) via this programs. However, the state of Kentucky, said PennyMac only would accept PAY-inFull! Well this is the problem, I DO NOT KNOW, how much I REALLY OWE due to the fees, not applying payments properly, increase interest rates, etc. I was then advices to hire a Lawyer who charges $ XXXXhr and has not been of any help, but costing thousands. After being summons foreclosure papers again, the lawyer advised me in XXXX to go forthwith this new modification program offer, and make my 3 trial payments and in time! Which I did, and have all that evidence too! This new possible modification papers I was sent I did not agree with and asked to appeal and PennyMac representative XXXX told me it would not help me or change anything to try to appeal. So I passed that information onto the Lawyer I hired and he told me to go ahead and sign and make those 3 payments. I did as directed, PennyMac even had me pay and extra $ XXXXmonth ; to receive a letter stating, I DO NOT QUALIFY! My concern and issue is ; PennyMac is not offering any help, the state of Kentucky is not helping, I am in a terrible situation and this is only making it worse and to the point of affecting my employment. Lastly, I would try to sell the home, but the city of XXXX KY placed a 33 millions of galls of water/a day pumping station with a 7.7million gallons underground water storage basin 1,000 feet from my home. The contractors used forms of blasting for project, myself and Neigbors felt homes move and also have damage. This falls back on the failure to disclose to FHA the proper soil and land the property is on not to mention in the deed it has property as lot # XXXX, # XXXX, and # XXXX. I was then told I was in a flood zone at the closing. Lastly, and I feel is most important ; on the FHA application, its first question is Are you a first time home buyer? And the mortgage broker marked NO when I was a first time buyer. The whole process from time home was listed to forced closing was less than 2 months for a brand new home owner, single mom, who was just being her XXXX career. The father who was helping to pay bills, then left within month of buying home, has never paid a penny in support, and has lead me to this financial nightmare, that I can not get any help from anyone with and lawyers are practically robbing me!! Please help!!!! My home is all I have for my daughter and I and I have been trying!! Good faith Illegal documentarian and failure to disclose, and now the city and damage to structure. Please help! Thank you, XXXX XXXX XXXX
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| 05/05/2018 |
Yes |
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- Trouble during payment process
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Web |
Servicemember |
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PLEASE SEE ATTACHED DOCUMENT WITH INCLUDED PICTURES To : PennyMac Loan Services CC : XXXX XXXX XXXX Office of Consumer Protection Kentucky Attorney Generals Office File No. : XXXX Co Name Penny Mac Loan Services This letter is in response to correspondence I received on XX/XX/XXXX from XXXX XXXX XXXX XXXX XXXX XXXX you stated that Kentucky statute allows PennyMac 30 days to prepare and mail the Lien Release to the County Recorders Office Its absolutely not true Kentucky Statue states : 382.365 Release of lien, with notice to property owner, within thirty days of satisfaction -- Assignments of liens -- Proceeding against lienholder in District Court or Circuit Court -- Liability of lienholder when lien not released or notice not sent -- Notice to state or lienholder -- Damages.
You also stated that PennyMac is not responsible for mail delay recording time etc.
Ill give you some history, I purchased my home using VA loan, originally lent by Veterans lender company named XXXX XXXX on XX/XX/XXXXXX/XX/XXXX. It was notarized and recorded with my county clerk within 5 ( five ) days. See the screen shot of the warrant deed bellow ( left ) and delivered the title agency the very next day screenshot bellow ( right ) PLEASE SEE ATTACHED DOCUMENT WITH INCLUDED PICTURES I received my warranty deed at the beginning of XX/XX/XXXX total turn out time was less that 2 weeks.
Then PennyMac purchased the loan and here we go : Loan was paid off on XX/XX/XXXX. There are a lot of bad reviews about your company on the internet XXXX XXXX XXXX, XXXX etc, you name it. Most of them related with taking time to release an escrow money. Because the more you hold the money the more profit you make.
So lets go back to your process compare to XXXX XXXX ( original lender ) You prepare and notarized the paperwork on XX/XX/XXXX 17 days after I paid off my loan ( see the screenshot bellow ) PLEASE SEE ATTACHED DOCUMENT WITH INCLUDED PICTURES You said you mailed it on XX/XX/XXXX, and your coworker XXXX XXXX told me that it was recorded on XX/XX/XXXX. Lets disregard your coworker comments and assume that you mailed on XX/XX/XXXX 23 days after I paid of the mortgage. Just remind you that I went to County Clerks office on XX/XX/XXXX and there were no paperwork from you. County Clerk process their recordings at the same day they received or the very next day. Ill take their word over yours based on initial experience ( see below screenshots ) The release of deed was recorded on XX/XX/XXXX, 32 days after I paid off the mortgage ( see the screenshot bellow ) PLEASE SEE ATTACHED DOCUMENT WITH INCLUDED PICTURES It was delivered to your title agency on XX/XX/XXXX ( see screenshot below ) 33 days since the mortgage was paid off.
PLEASE SEE ATTACHED DOCUMENT WITH INCLUDED PICTURES Then you wrote me a letter on XX/XX/XXXX informing me that I paid off my loan and attached is my release of mortgage. 46 days after I paid off my mortgage. I dont want to know what did you do between XX/XX/XXXX and XX/XX/XXXX timeframe. But dont blame my county clerks office or XXXX, XXXX, XXXX or whoever you used for shipping.
PLEASE SEE ATTACHED DOCUMENT WITH INCLUDED PICTURES It wasnt mailed on the same day thou. Two days later from Florida PLEASE SEE ATTACHED DOCUMENT WITH INCLUDED PICTURES Letter was received on XX/XX/XXXX, please count how many days You have received a letter on XX/XX/XXXX ( USPS Tracking Number : XXXX ) ( remind you that you own me an escrow and release of mortgage paperwork. Letter was send according to Kentucky Statue 382.365, which states that you have 15 days to comply and after 15 days you will be held reliable for monetary damage of {$100.00} per day, including the day 15th. So, you are responsible for monetary damage for XX/XX/XXXX, XX/XX/XXXX,XX/XX/XXXX,XX/XX/XXXX,XX/XX/XXXX,XX/XX/XXXX.
Thats {$700.00} ( XXXX XXXX ) dollars. I believe you should take responsibilities for your action the same way you expect your customers to do like have them to pay late fees etc. You dont accept mail delay excuse from your customers arent you? Im sorry my check is almost 2 months late its not my fault, right?
There is no excuse to blame mail service for delay between XX/XX/XXXX and XX/XX/XXXX There is no excuse to blame mail system or county clerk for delay between XX/XX/XXXX and XX/XX/XXXX.
There is no excuse to blame mail system or delay after you received the documents on XX/XX/XXXX and waited till XX/XX/XXXX to type the later and mail it on XX/XX/XXXX. There are huge gaps in between.
There is no excuse, when I contacted your customer service 8 times between XX/XX/XXXX and XX/XX/XXXX, remind them that Im still short on escrow money and you need to comply with state law in regards of releasing the lien.
Simple notarize, recording and delivery took 6 days for XXXX XXXX back in XXXX and 31 days for you. Thats the reason there are much less bad reviews regarding XXXX XXXX than you.
You work in the State of Kentucky please follow the State Law. You are not exempt from it! And dont rewrite it for your own benefit. It doesnt say that you are required send documents to county clerk and blame the mail or county clerk. The law says : 382.365 Release of lien, with notice to property owner, within thirty days of satisfaction It means that you should release the lien and I should receive a notice within 30 days.
Mortgage was satisfied on XX/XX/XXXX 30 days expired on XX/XX/XXXX The same thing with an escrow balance, when you received my first complaint that states that I have not received a refund money, why you send me my payment history not a check I was requesting? It makes sense to cancel the old check and reissue a new one, right?
Sincerely XXXX XXXX
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| 08/03/2023 |
Yes |
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- Trouble during payment process
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Web |
Servicemember |
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My VA mortgage is currently with Pennymac. On XX/XX/XXXX, I received my monthly statement and annual escrow analysis which showed an increase of my monthly mortgage payment by {$710.00}. This is a 52 % increase in my monthly payment. When I contacted Pennymac to inquire about this increase, I was informed that my escrow account was deficient approximately {$4500.00}. I was further advised that it has been deficient since XXXX, XXXX.
In XXXX of XXXX, I was sent my annual escrow analysis along with an escrow refund of {$870.00}. The escrow analysis indicated that my escrow would have a surplus over the next year ( XXXX ) so I was being issued a refund. While discussing this with Pennymac customer service, I was informed that I should be checking on my account from time to time. I informed her that I check my statements every month and see the escrow account balance listed on the top in the following format : ( {$1200.00} ). She then asked me if the number was in parenthesis. When I confirmed that it was, she explained that a number in parenthesis ( ) is a negative number, so this actually indicates a negative balance. When I asked where on my statement it explained that a number in parenthesis was a negative number, she told me that its not there anywhere. I then asked where on the website, when I log in under my account, can I find information to tell me that numbers in a parenthesis are negative numbers, and she told me that its not listed there either. I then asked how I was supposed to know that a number was negative just because it was in parenthesis, and she stated that she didnt know. So the entire year that I have been watching the number next to my escrow balance go up, after receiving a letter telling me I would have a surplus for the year, I am informed that I have actually been watching my escrow account go deeper and deeper in the negative.
I asked when my escrow went into the negative and she stated in XXXX of XXXX. I asked why I was not informed that it was in the negative or why no action was taken to correct it until the following XX/XX/XXXX, and she stated that the state of Indiana only requires them to do an escrow analysis annually, so that's all that they did. Even after having to use other funds to cover the disbursements for my insurance premium and property taxes, which make up a total of 3 sepearte disbursements, Pennymac took no action to correct the problem or inform me of the issue.
After further discussion and investigation, it was discovered that when they conducted the escrow analysis in XXXX of XXXX, they did not review all of the disbursements from the previous year. They only went back to the last payment they made to my insurance company which was in XXXX of XXXX for the amount of {$180.00}. Had they conducted a proper analysis and reviewed the entire year, they would have captured the disbursement to my insurance company in XXXX of XXXX for the amount of {$1600.00}. Because they failed to do this correctly, they conducted the analysis of XX/XX/XXXX on the assumption of a {$180.00} annual insurance premium. This failure led to the improper analysis of an expected surplus for XXXX, and the refund I was issued in XXXX of XXXX.
When I discussed the fact that Pennymac is the one who determines my payment, and how much money goes to escrow and that this entire deficit was their fault, I was told that while that's true I have to pay it back so they raised my mortgage 52 %. This would result in an additional {$8600.00} being paid to Pennymac over the next 12 months. This is hardly a negligible change in finances. Not only was it raised, it was raised without warning or explanation, like such a significant raise would not cause problems for a famiys finances and budgeting. When this was brought up, she offered to extend the repayment period over multiple years so it was less of a burden than trying to recoup it all over 12 months. While this reduced the monthly payments, it is still unacceptable.
I believe that Pennymac has failed to adhere to 12 CFR Part 1024.17 ( c ) ( 3 ) and 1024.17 ( c ) ( 7 ) by failing to estimate the amount of escrow account items to be disbursed. The data was available to them but they failed to capture it by doing an improper analysis. By failing to do a proper analysis, this created a large debt that was completely preventable and is now forcing me and my family to pick up the pieces of thier failure. Further, they violated 12CFR Part 1024.17 ( i ) ( 1 ) ( v ) by failing to accurately provide the balance of the escrow account. The balance was displayed in parenthesis ( ) to indicate a negative number but with no explanation that this number was negative. It should be noted that this method of portraying the balance is used on the monthly statements as well as the annual escrow analysis. This is not a clear itemization of the balance as required by 1024.17 ( i ) ( 1 ).
In summation, Pennymac had the necessary data available to conduct a proper escrow analysis in XX/XX/XXXX and failed to do so. They also had ample opportunity to inform me, the borrower, that there was a problem with the escrow account so corrections could be made and failed to do so. Instead, they waited for an entire year, and allowed the deficiency to continue to worsen. Lastly, they provide a statement in a way that does not allow the borrower to fully understand the status of thier account by hiding the fact that the amount shown is a negative number. I would like Pennymac to be responsible for the debt/defeciency that has developed due to thier failure and thier inaction.
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| 03/05/2021 |
Yes |
- Mortgage
- Conventional home mortgage
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
Servicemember |
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On XX/XX/21 I ( electronically ) submitted a loan application to refinance my existing FHA loan with PennyMac USA. I left a message with PennyMac 's loan officer XXXX. I didn't receive a return phone call so on XX/XX/21 I called PennyMac again and was routed to PennyMac loan officer XXXX XXXX ( nmls # XXXX XXXX, who apologized on behalf of PennyMac for the previous representative not following up/thru. XXXX XXXX collected additional personal information from me and populated the loan application for my request for a refinance of my existing FHA loan, with PennyMac. XXXX XXXX recommended that I convert to a conventional loan after reviewing my existing loan and balance, to which I agreed. He advised that he would complete all of the remaining loan application information for me and follow up with me. He asked what my goal was and I advised it was to get a lower interest rate. I received a secure message email on XX/XX/21, from XXXX XXXX. He advised that I would receive an email with the details of the loan application. On XX/XX/21, I received an email from PennyMac to e-sign my refinance loan application documents. However, when I tried to access the PennyMac web portal I received the following message " Enter Your Authentication Code '', which I never received from XXXX XXXX or PennyMac. I followed up with an email to XXXX ( on XX/XX/21 ) advising him of the message and requesting the Authentication Code. He, to this day, has not responded to my request for the Authentication Code. I waited for XXXX or a PennyMac representative to responded sot that I could access their web portal and fulfill the request of e-signing the documents, which hasn't happened as of the drafting of this complaint. On XX/XX/21 I received a hard copy of my refinance loan application in the mail via USPS Priority Mail 2-Day. I thought this was odd given the fact that XXXX and I had NOT discussed all of the conventional product options and whether or not buying points was an option. I sent XXXX an email on XX/XX/21 requesting to speak with him about the loan application, having received the hard copy in the mail. I also called and left a voice message on XX/XX/21 advising that I needed to speak to him regarding the application I had received, as I had not been informed of or agreed to the interest rate listed nor the the purpose listed in the application as " Cash-Out Limited '', as I requested no Cash Out, in the loan application. To date I haven't received a return phone call nor email reply. I subsequently received a " Payoff Demand Statement '' and a " Credit Score Disclosure '', both dated XX/XX/21. I followed up with PennyMac on XX/XX/21 via phone call and email regarding my loan application. The email was sent to XXXX and CC'ed XXXX XXXX XXXX I received an automated generated reply that PennyMac had received my message, and someone would follow up. However, still no reply from XXXX XXXX. On the phone calls I was bounced around to several representatives and ultimately left an additional voice message for XXXX XXXX. I called PennyMac again on XX/XX/21 and requested to speak to a supervisor. I was given the name for XXXX XXXX and transferred to his extension. He didn't answer so I left a detailed voice message and requested a follow up phone call. To date I have not received the requested follow up call from XXXX. I called PennyMac again on XX/XX/21 and was on hold for 30+ minutes and finally hung up without speaking to a representative. I called PennyMac again on XX/XX/21 at XXXX XXXX XXXX XXXX and was advised that my complaint had been escalated and a member of the management team would follow up with me via phone call. Since I had heard this several times before, I waited an hour and called PennyMac again after 30 minutes on the phone with a PennyMac representative I was transferred to her supervisor ( XXXX at XXXX XXXX XXXX who informed me that she could only transfer me to XXXX XXXX XXXX extension and also send an email to the loan officer management team. She offered that there was no corporate office contact number for me to reach out and complain to. I left my second voice mail message for XXXX XXXX, providing details about my application for him to retrieve and follow up with a phone call to me, which I have not received as of this email and given the history of things don't expect to receive. Since time is of the essence with these type loan docs, it appears as if PennyMac has communicated to their reps to sit on the applications that were in the pipeline prior to the interest rates increasing and/or unacceptably inefficient in the processing of loan application. My credit score, that PennyMac pulled, was a XXXX and I have never had a late payment on my existing FHA loan with PennyMac. There have been so many service failures with this application process that I should be paid for the time that I've invested in holding PennyMac representatives responsible for doing their respective jobs. The only reason I have continued to pursue a refinance loan, given the unacceptable and substandard customer service, with PennyMac is because they pulled my credit and that has/will decrease my score and because I'm a well-qualified applicant by any measure/metric used, UNLESS PennyMac is using race as a metric. It should be investigated and looked into as I'm a member of that 10 % who will take the time to share my experience that others may dismissed and move on to another mortgage service provider without their negative experience being captured and identifying possible illegal practices and patterns.
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| 12/08/2020 |
Yes |
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Web |
Older American |
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I had an existing mortgage with PennyMac and decided to sell that home. They wanted to keep me as a customer and the XXXX, XXXX XXXX, sent a pre-approval letter on XX/XX/XXXX for a Fixed FHA loan at 2.5 % interest with a total payment ( including an escrow account ) in the amount of {$1100.00}. The loan was subject to my receiving the proceeds on the sale of my home. The process became difficult at times and my XXXX XXXX XXXX, XXXX XXXX, would have to step in to clarify various issues on both sides. At this point, the process was shifted to XXXX XXXX to collect all the necessary documents and signatures to complete the loan. This became extremely frustrating for me because I was sending everything that was requested, but then I would receive a call that a document hadn't been received or was lost. I sent the majority of the documents 2 to 3 times. I never knew where these documents containing personal and private information ended up. They also used a process called e-Sign for any necessary signatures. There were numerous problems in accessing their system for signing documents so they finally had me take pictures of the requested documents and email them to XXXX. This was a never ending cycle of what seemed to be not only incompetence on the part of XXXX, but a nonchalant attitude and lack of concern for completing the loan process on time as well as for me as a customer. I became highly emotional several times in dealing with PennyMac, particularly with XXXX, to the point that her XXXX stepped in to help the process in forwarding on. The Title Opinion was the final document required and a closing date was set for XXXXXX/XX/XXXX. The sale of my home was also scheduled to close on XXXX XXXXXX/XX/XXXXand it was successfully executed and the proceeds of that sale were in holding for my closing. On approximately XX/XX/XXXXXX/XX/XXXX, I received a call from XXXX stating that everything was ready and we would close on XXXX XXXXXX/XX/XXXX. On XX/XX/XXXXXX/XX/XXXX, I received another call from XXXX stating they had not sent me the Settlement Statement on time and since there was a 3 day waiting period after I signed, the closing date was moved to XX/XX/XXXX. This error caused so many problems including the movers who were already booked for the XXXX and they were unable to switch my move to the XXXX. They were not able to move my storage items until the XXXX and I had to find another moving company that could move me on the XXXX during a very heavy moving season. Fortunately, the buyers for my home were able to wait another day to take possession of my home and XXXX was able to negotiate a rental agreement with the seller of my new home. I had pretty much become a nervous wreck at this point. The final straw came on the XXXX. The movers had arrived at XXXX XXXX and had started loading their trucks when another call cam from XXXX. She informed me that XXXXennyMac was not going to give me a loan! I was in complete shock. She said that the Underwriting Department said that the owner of the home I wanted to buy had transferred the property from his company into his name and put a value of {$120000.00} and then was selling it to me for {$200000.00}. This action made it appear to be a " flip house '' which, under FHA rules, requires a 90 day waiting period before he could sell it. 90 days would be the end of XX/XX/XXXX. PennyMac should have been aware of this situation and looked into what had taken place but they did not bother. In fact the seller had lived in this home since XXXX and an affidavit stating such would have explained the situation. This FHA rule that PennyMac should have known about, but apparently didn't, is the reason they gave for not giving me a loan. I had already sold my home and now there was no loan to buy the home I wanted. At this point I had a complete meltdown. Fortunately, XXXX was able to negotiate a rental agreement for {$1400.00} that would allow me to live in the new house until XX/XX/XXXX. We immediately began looking for a new lender and found XXXX XXXX XXXX XXXX willing to give me a fixed Conventional Loan in record time but at a much higher interest rat of 4.5 % creating a monthly payment of {$1200.00}. This is a difference of {$100.00} per month and {$6800.00} over the life of the mortgage. I requested a letter from PennyMac giving the reason they denied my loan. The letter which was dated XX/XX/XXXX, was sent to me on XX/XX/XXXX, indicating that my credit scores were the reason my loan was denied. The credit report from all XXXX major credit reporting companies was also dated XX/XX/XXXX. Why did I receive that pre-approval letter for {$220000.00} on XX/XX/XXXX if my credit was not good enough? My home was listed on XX/XX/XXXX, both homes were scheduled to close on XX/XX/XXXX, XXXX mine closed but the new house did not. I was left high and dry, Having sold my home, paid multiple movers to move my belongings, paying the seller {$1400.00} for a rental agreement and not calling me until right before the closing appointment to say there would be no loan is just so wrong in so many ways. This whole thing is unbelievable and I wonder, if I had not been a Senior Citizen, would this have happened. For any mortgage company to make this kind of error is completely unacceptable and the extent to which PennyMac lacked integrity and professionalism throughout the entire process should be dealt with severely to ensure they do not inflict this kind of trauma on any other person ( s ) who might seek a mortgage loan through them
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| 12/17/2019 |
Yes |
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- Trouble during payment process
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Web |
Servicemember |
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Complaint and Qualified Written Request re property XXXX XXXX XXXX as an asset in XXXX XXXX Pooled Security XXXX where my VA loan XXXX was purportedly placed between XX/XX/XXXX - XX/XX/XXXX and where XXXX XXXX XXXX XXXX is a Trustee.
I am writing this Complaint in respond to PennyMac 's Loan Services LLC respond where they insisted that PennyMac is the Issuer of XXXX XXXX XXXX securities ; and claimed certainn rights as a " purchaser '' of my debt..
According to XX/XX/XXXX letter sent to Senator XXXX by XXXX XXXX Vice President XXXX XXXX XXXX, the Issuer for this Trust was XXXX XXXX who obtained assignment of my loan on XX/XX/XXXX, not PennyMac. Pursuant to IRS Rule and XXXX XXXX XXXX guide, all securities must be issued before Trust 's closing day.
Neither PennyMac or XXXX XXXX XXXX, XXXX or XXXX XXXX XXXX XXXX who purportedly was a Lender who transferred my loan to XXXX on XX/XX/XXXX ( insists XXXX ) or on XX/XX/XXXX ( insists XXXX ) were not able to provide me ANY information regarding XXXX XXXX XXXXrust which holds my loan as a security ; or ANY proof that any party Caliber or PennyMac ever paid any value for my debt, as required by XXXX XXXX MBS guide and UCC Art. 9.
According to XXXX XXXX Guide, my loan MUST be registered on MERS website - which was not done. Please explain why PennyMac did not registered my loan and the Trust where is is held on MERS website. This is public information.
Please identify the name of the Trust which holds my loan as a security.
Please provide me a proof of SALE of my loan from from XXXX XXXX XXXX, XXXX to PennyMac. When exactly this sale took place ; proof of recording this sale with XXXX XXXX ; copy of Pooling and Servicing Agreement with the Trust ( according to XX/XX/XXXX letter from Trustee XXXX this PSA is available ) ; the name of XXXXstor who settled this Trust ; the name of the responsible Officer who appointed XXXX as a Trustee ; and Master Servicing Agreement with all Servicers.
15 USC 1641 does not recognize Servicers as Owners of the debt and XXXX XXXX and UCC Art 9, 203 require a proof of transfer for the value received.
PennyMac never provided me any proof that they purchased my loan means paid anything in value for it.
On XX/XX/XXXX, my closing day with XXXX, XXXX XXXX transferred my loan to XXXX XXXX Loans, XXXX ( XXXX ) via XXXX. Under XXXX XXXX selling guide the Assignment MUST first appear on the Note ; and XXXX XXXX must be referenced, as well as any Allonges. None of it present.
XXXX initially claimed they are " owners/investors '' in my loan which was transferred to XXXX on XX/XX/XXXX by " prior Servicer/Originator '' XXXX. This is not true because my loan commitment came from XXXX and my loan was assigned via XXXX to XXXX on the closing day XX/XX/XXXX.
XXXX has no intention to comply with ANY laws and never provided me any validation of debt or proof of its " ownerhsip '' of my loan except forged XXXX which is a clear evidence of fraudulent conveyance, identity theft, forgery, ect.
I further request PennyMac to answer the following questions : What is the full name ; XXXX ; XXXX for XXXX XXXX Trust which holds my loan as a security.
When exactly this Trust was formed ; who is Trustor ; and what is this Trust closing date?
When exactly my loan was sold by XXXX to XXXX and a proof of Sale recorded with XXXX XXXX as required by XXXX XXXX 's XXXX XXXX.
Do you contend that XXXX is a Trustee for XXXX XXXX XXXX Trust? Do you contend that the subject XXXX is subject to IRC 301.7701 ( i ) -1 Definition of a taxable mortgage pool? Do you content that the subject XXXX is subject to IRS XXXX? Do you contend that the subject XXXX is the actual and legal owner of the subject debt, note and mortgage? If Yes, please describe the manner in which the subject debt, note and mortgage were acquired or became entrusted to XXXX as Trustee of the named XXXX.
Please provide me a copy of my Mortgage Registration with XXXX XXXXXXXX XXXX Pool aka ( Schedule of Mortgages which every loan must complete on HUD Form 11706, 4 pages document ) Please provide me a copy of Pooling and Servicing Agreement ( PSA ) for this Trust.
Please provide me acopy of XXXX XXXX written Approval of the Transfer of my loan from XXXX to PennyMac, as required by XXXX XXXX XXXX Transfer rules ( MBS Guide ) Explain when PennyMac issued securities for XXXX XXXX 's Trust if it must be done within 30 days of Trust 's closing date.
According to XXXX 's written respond on XX/XX/XXXX,, this Trust shall have PSA which regulates all Servicing Activities.
If PennyMac does not have PSA for this Trust, please describe the document upon which XXXX XXXX 's XXXX was created, organized and still exists.
As stated in 301.7701 ( i ) -1 Definition of a taxable mortgage pool, does the named XXXX qualify as a legal entity? Does the named XXXX own assets? If yes, please describe the assets.
Are substantially all the claimed assets categorized as debt obligations? Is the debt in the subject disputed loan one of the assets owned by the named XXXX?
If yes please describe the date, parties and location of the transaction in which the named XXXX became the owner of the subject debt. If yes please list and describe the date and parties involved ( as Payors or Payees ) in the distribution of any money by or on behalf of XXXX Bank relating in any way to the subject XXXX and relating in any way to the subject contested loan.
Best regards, XXXX XXXX XXXX XXXX Veteran Homeowner and resident of XXXX XXXX XXXX, XXXX, MI
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| 12/18/2021 |
Yes |
- Debt collection
- I do not know
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- Attempts to collect debt not owed
- Debt is not yours
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Web |
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Dear CFPB I am contacting your Office to complaint against XXXX XXXX ( XXXX XXXX XXXX XXXX XXXX ) fraud and racketeering activities ; and request additional forbearance on my non-existing " mortgage '' until XX/XX/XXXX, as was announced by the Government and HUD on XX/XX/XXXX I am a victim of the biggest economic crime and racketeering activities by XXXX XXXX Stock Brokers XXXX XXXX and XXXX XXXX who act via chain of sham conduits operated by their " Servicer '' XXXX XXXX XXXX owner of XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX
XXXX initiated my faux transaction in XXXX where I submitted my application on XXXXXXXX XXXX system via access with a password provided to me by XXXX XXXX XXXXXXXX.
XXXX collected my money for XXXX XXXX Banks via lockbox agreements with XXXX XXXX XXXX sends me statements abnd letters on alleged " Servicers '' letterheads XXXX forged Assignment to " PennyMac '' via its sham conduit Nationwide Title Clearing I do not have a creditor whom I can contact with my request for forbearance on my non-existing " loan '' ; or any authorized agent for this creditor since my entire " financing '' with impersonator XXXX XXXX, XXXX was a ruse and a continuance of the securitization scheme initiated in XXXX by XXXX XXXX and their Investment branch XXXX XXXX with the prior owner XXXX.
In XXXX nobody loaned me any money while deceptively obtained from me a signature to repay a non-existing " debt '' to alleged " Lender '' XXXX XXXX who was not a Lender but impersonator hired by XXXX XXXX and XXXX XXXX via chain of sham conduits XXXX XXXX XXXX ( XXXX XXXX XXXX ) and XXXX XXXX, XXXX ( former XXXX XXXX XXXX ) All manipulations with my paperwork and alleged " closing '' were done by XXXX XXXX owner XXXX XXXX XXXX XXXX via his sham conduits like ServiceLink From XXXX to XXXX I was sending my payments to XXXX XXXX and/or XXXX XXXX via XXXX XXXX XXXX XXXX TX where they were picked by XXXX, XXXX and deposited with XXXX of XXXX to someone's account as pure revenue under glimpse of repayment " debt '' while no one loaned me a cent.
All my payments were collected by XXXX XXXX XXXX XXXX, via lockbox agreements and sham conduits who use various XXXX XXXX XXXX to communicate with homeowners while conceal identities of the senders.
In XX/XX/XXXX I received a letter from another part of XXXX XXXX, now PennyMac who started to demand me to pay them money - without any evidence of ownership of authority to collect.
In XX/XX/XXXX XXXX XXXX accused PennyMac in theft of their trade secrets and removed PennyMac from their database Mortgage Processing Services ( MSP ), so PennyMac would not be able to communicate with me in any manner ; and does not communiocate with me in any manner. It is all done via other companies who use PennyMac 's letterheads and electronically attached signatures of " employees '' who likely do not exist, like robo-signer XXXX XXXX whose name is similar to the name of serial killer in California jail XXXX
But I am '' allowed '' to communicate only with " XXXX XXXX '' who disappeared as soon as I demanded a personal meeting and verification of his signature, along with addidavit from XXXX 's manager Since at least XX/XX/XXXX I received correspondence from XXXX XXXX XXXX XXXX whose sham companies are acting under glimpse of " PennyMac '' One company, likely XXXX XXXX XXXX, XXXX sends me " billing statements '' with " PennyMAc '' XXXX XXXX XXXX XXXX XXXX. My money are collected by XXXX XXXX ( now part of Exela ) without any involvement of PennyMzc My property taxes are paid by XXXX XXXX - whom can not explain who allowed them to use assess to my escrow funds and from whom they receive directions to pay taxes.
My home insurance is paid by some " third party payment services '' provider whose name nobody can identify Nationwide Title Clearing corporation who purportedly " prepared '' assignment to PennyMac and its employee told me that XXXX XXXX whose name appears in the Assignment as a preparer did not actually prepared it or even saw it.
MERS employee told me that alleged " MERS VP, robp-signer XXXX XXXX XXXX is actually PennyMac employee.
XXXX employee said that robo-signer XXXX is actually XXXX employee.Both statements lack any factual support since nobody can provide me any contact information for this " XXXX XXXX XXXX Someone's robo signer " XXXX XXXX XXXX keept telling me that PennyMac is the " owner '' of my alleged obligation, without any evidence in support.
PennyMac 's " employee '' XXXX XXXX who works for someone's call center somewhere in Colorado, XXXX told me that the owner is XXXX XXXXWhen I asked for contact information to XXXX 's supervisor, she said I can only talk to " XXXX XXXX '' - without giving me his direct phone number or place of employment.
I have absolutely no contact with my alleged " creditor '' other than toll-free numbers to someone's call centers ( operated under XXXX XXXX 's XXXX XXXX unmbrella of companies ) I don't know whom I can contact and who has authority to approve my forbearance on non-existent " loan '' So, I decided to contact CFPB to ask for additional forbearance as announced by the Government in XX/XX/XXXX, which extends until XX/XX/XXXX.
I have included alleged " Servicer '' PennyMac and faux XXXX XXXX '' Bank of New York in this request and complaint for references only since I don't know how else I can contact XXXX XXXX XXXX XXXX and his Mob in XXXX who sends me unsigned threatening Notices from secretive XXXX XXXX XXXX.
Regards XXXX XXXX
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| 12/04/2018 |
Yes |
- Mortgage
- Other type of mortgage
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- Struggling to pay mortgage
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Web |
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In XX/XX/XXXX I lost my job and in XX/XX/XXXX contacted PennyMac to assistance. I was offer an unemployment forbearance that lowered my payment to {$5.00} a month and told the remaining unpaid portion of my monthly payment would be added to the end of my loan.. Piece of cake, right? Kicked off the forbearance plan for having a payment bounce when I used a friends bank account due to personal issues with my bank. Guideline for the forbearance was being kicked off for 1 60 day late I was denied a modification in XX/XX/XXXX due to excessive DTI.. I was about {$800.00} short on other bills when they lowered my payment to XXXX $ back in XX/XX/XXXX. I disputed this with them and highlighted and mailed the USDA loss mitigation guidelines pointing out there endless errors and wrongful denial of the modification. Thankfully lost my job again in XX/XX/XXXX, yes thankfully because PennyMac started to file foreclosure paperwork and losing my job even though they knew I was still digging a deeper financial deficit and once I managed to get money together to final Chapter XXXX bankruptcy I was about 10 months behind. Filing bankruptcy was my only option to save my house because of the automatic stay that halts the foreclosure proceedings. I again applied for a modification and this time was offered a modification on XX/XX/XXXX which capitalized the payments that would end up past due a total of 13 months and extending my mortgage back to 30 years from about only 22 years remaining, not lowering my interest rate but did reduce my payment about {$23.00} a month.. Saving me after making all 360 monthly payments a huge amount of {$8200.00}. But allows them to not only collect and capitalize on the delinquent interest but then collect to for an additional 8 years tacked on to the end of my loan. I was forced to accept this modification and save my house and keep my mortgage out of the chapter XXXX bankruptcy saving my about {$150.00} a month for my bankruptcy repayment plan or include it in the bankruptcy making my repayment plan monthly amount {$800.00} for 5 years. Accepting the responsibility of an {$800.00} bankruptcy payment plus my other debts and my income currently wouldn't have covered all my payments leaving me in no better financial position than I was without bankruptcy and saving my home. My first payment was XX/XX/XXXX when I went online the beginning of XX/XX/XXXX to pay and it still reflected my old payment amount, I sent a message I was not paying until my information was updated since I have not seen any signed modification by the service company ( PennyMac ). I found out while calling in my payment that the modification was not approved by the bankruptcy court yet but would be XX/XX/XXXX and that my payment is being classified as a " trial payment ''. I was never informed of being put on this " trial payment '' nor what was happening with the modification process. I withdrew the money from my account so the mortgage payment wouldn't clear the account. I feared them not applying the payment to the agreement I signed in XX/XX/XXXX and keeping the money for the delinquent amount owed. I had no contact with PennyMac after they received my signed documents, never informed they had to wait to update the online account ... oh they can't record the signed modification packet that both myself and PennyMac executed. Therefore I have to assume they have not executed the contract for the modification and are deceptively collecting on the past due amount on the account not for the new terms of the note and mortgage. I found out this wasn't recorded yet by pulling court records through my current employer ( I work at a title agency ). However I did find to my surprise that back about 7 years my loan servings was " sold '' from XXXX XXXX XXXX to XXXX/Penny ... The assignment of mortgage that should have been signed and recorded at the courthouse was just recorded on XX/XX/XXXX.. Therefore technically PennyMac had no ownership in the note or mortgage they entire I time I have been paying them monthly, but while not following loss mitigation guidelines per USDA, but while filing foreclosure with their attorney, offering the original forbearance, the denial of modification, accepting and offering a second forbearance and providing a legal contract to modify my mortgage ... a mortgage they did not have the authority to do so. The modification was dated XX/XX/XXXX the signature date of the assignment of mortgages filed about 7 years late was dated XX/XX/XXXX. Penny Mac 's attorney is the " customer '' who filed the assignment. When I contact PennyMac to question this matter. I was quickly told I have questions that involve legal matters and I would get a return call from someone after he speaks with his manager. I would likely hear from someone in the bankruptcy division or legal department. I requested a copy of the modification showing my signature as well as Penny Mac 's signature and date and was told they have to get " approval '' for me to get a copy of the document. I was told the original gets recorded at the courthouse and then returned to PennyMac ... however it doesn't mean I can't possess and executed copy of the document to ensure I am paying what was agreed to in the paperwork I signed and had notarized. I need legal help and do not have the finances to pay for a litigation lawyer ... PLEASE HELP.. they are breaking laws and because I do not have money to obtain legal counsel I have my hands tied..
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| 04/10/2021 |
Yes |
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- Trouble during payment process
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Web |
Servicemember |
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I'm asking for help with a mortgage company. We are victims of the XXXX that hit our town in XXXX. Our insurance has been very helpful but our mortgage company Penny Mac has not. They were sent {$250000.00} insurance payment in XXXX, from the total loss of our home. We have been ready to rebuild and, asking for funds to be released for months. It is XX/XX/XXXX and as of yet they still have not released any funds. While we are charged interest on our {$230000.00} VA mortgage ( which right now is in Covid-19 Mortgage Relief plan ) each month they have held our {$250000.00} for 4+ months. Though a twisted tangled set of demands week after week for paperwork that doesn't get sent to us or new demands for " items '' we forgot you needed. Only to be followed by oh you need this form as well. Each form takes 3 days to " upload '' to their system. Then followed by up to 8 days to review, then you of course need more papers that we forgot to get to you. If you happen to jump through all their hoops just right then they need another 6 days to " write '' you a check then days to have it mailed. This has left my builder without funds he needs to start. Making us use {$12000.00} ( to pour foundation ) of our own content insurance money to not be left behind in the building process. I have recently learned that they have seen that we have Covid relief plan. They seem to have gotten worse and acted punitively reducing amount of funds from {$120000.00} that was supposed to be issued in check form Monday in our names ( this should of happened weeks ago. ) Today 4 months later they are only sending {$40000.00} ( with the builder as payee on the check as well, after being told on Friday that the check would be sent to home owner so they can keep an eye on the build process before paying out contractor. ) This all seems punitive to us after they learned we had Federally mandated Covid Relief and feels like it should be breaking federal law for housing protection with Covid and FEMA assisted firestorm relief. I have been lied to and jersey around so many times. It's wrong and unethical to collect thousands of dollars interest on my mortgage while holding the entire amount plus $ XXXX of my own money. I was also told when I complained about the cost of building materials going up while they hold the money that I should ask the insurance to pay more when it's PennyMacs fault for holding the funds for these past 4 months!
I have added up just my phone conversations with them it is 8 HOURS and 54 MINUTES of time on the phone at times while I'm trying to work. 34, THIRTY FOUR! phone calls in all starting XX/XX/XXXX.
Many documents uploaded and requested besides these phone calls. Hours of hoops, the last one came this morning when they found a new form they forgot about that must be turned in before they release funds. This is the third form they forgot to tell me I needed.
I have jumped through every hoop they have asked sometimes as many as 6 times for just one piece of paperwork, ( last month they said they had tech issues and never sent required paper each of the 5 times I requesed it, which added several more weeks in mail time and falsely telling me they were sent when they never were sent. They also say they can't accept or send emails. ) Even mailing XXXX package to my burnt out home, instead of current address. Not accepting copies and asking for them to very resent, then they again need 3 to 8+ days to look then over. If your able to check the phone logs and history on my account it would be very telling for you.
The standard that they are supposed to release to each homeowner is 33.3 % they told me last week when I threatened to file a complaint that they would release half because of the trouble they have caused in the cost of rebuilding rising as they drag their feet and hold onto the funds. ) After noticing we have Covid relief on our mortgage three days ago they have treated me differently, rudely accusatory and still more feet dragging. All borrowers are granted the third in increments to rebuild and then starts the hoops again to get the other two thirds, but not for those poor people who have Covid Relief???. Since they have held my money the cost of sheetrock has gone up 40 % and cost of lumber has skyrocketed too. Can you help us and look into the goings on at Pennymac. I am disgusted that this could happen to any fire victim while dealing with the Covid-19 downturn in my business. My business was also affected by the fires that burnt up to and into its back door and was forced to be closed for another 3 + weeks for smoke damage on top of the Covid shut down and having Covid in XXXX missing another 3 weeks of work. I am also operating at a loss of 25 % clientele since Covid began.
I am frustrated and shocked that someone's insurance funds could be held and manipulated by a financial institution. I'm told if I wanted to talk to Management in Penny Mac that I would have to write a letter and drop it in the mail. There is no other way to contact them. Unacceptable behavior while they hold my rebuild funds.
Can you please help me and look into what they are doing to just one of the many home owners that lost everything in the fires? This must be happening to others, I want it to stop with me. I have heard echos of this kind of thing from my neighbors as well with other mortgage companies drawing out the holding of funds We are currently living in a travel trailer.
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| 09/05/2017 |
Yes |
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- Trouble during payment process
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Web |
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To : PennyMac From : XXXX XXXX and XXXX XXXX XXXX Loan Number : XXXX Property Address : XXXX XXXX XXXX XXXX XXXX, TX XXXX Re : Erroneous Charges to our account made by PennyMac for Flood Insurance and grossly ineffective handling of matters concerning our mortgage account This is a qualified written request under Section 6 of the Real Estate Settlement Procedures Act ( RESPA ).
I am writing because PennyMac has insisted our property is in a flood zone when in fact it is not. Subsequently PennyMac deducted {$2200.00} from our escrow account in XX/XX/XXXX and are attempting to charge that same amount in XX/XX/XXXX for flood insurance. We have provided ample proof and documentation to show our property IS NOT in a flood zone. We have provided to PennyMac per their requests on 3 separate occasions with the following documentation : LOMA ( Letter of Map Revision Based on Fill Determination Document Removal ) dated XX/XX/XXXX from FEMA, Certified copies of Engineering maps and zoning for our area dated XX/XX/XXXX from XXXX, XXXX XXXX XXXX XXXX for XXXX at XXXX XXXX XXXX Layout Map, and a zoning map from XXXX XXXX , XXXX for XXXX XXXX XXXX at XXXX.
All of these documents completely and clearly show our property is in XXXX XXXX XXXX XXXX of XXXX at XXXX which was removed from the flood zone per FEMA in XX/XX/XXXX per LOMA case # XXXX FEMA. This property was initially shown in a flood zone. However, it never should have been. FEMA acknowledged and corrected their mistake. The property was never in a flood zone but due to an error, FEMA included some of the properties from our neighborhood prior to XX/XX/XXXX. They have since removed our property and others and corrected the mistake per XXXX on XX/XX/XXXX ( before we even purchased the property. ) We have spoken to FEMA representatives on several separate phone calls over the past several months ( since XX/XX/XXXX ) and we have been assured by them that our property is not in a flood zone and thus we are not required by federal law to carry flood insurance. Per FEMA flood insurance is completely the homeowners prerogative in our case. And yet, PennyMac insist on charging us an exorbitant amount for flood insurance w/out our consent. During the past several months I have contacted several entities to provide me w/ documentation and information. I have spoken to our HOA President several times and he also assures me we are not in a flood zone. He assisted me in obtaining the necessary documentation to show that fact which I forwarded to you. I spoke to our Homeowners Insurance representative and he also assured me that he had reviewed the documentation and he could clearly see we were not in a flood zone per FEMA. He was completely unsure as to why the third party insurance company on behalf of PennyMac could not easily see the same thing he sees.
I have repeatedly, since XX/XX/XXXX to date, cooperated w/ PennyMac fully. I have provided you w/ all requested documentation more than once. I have spent countless hours on the phone w/ PennyMac regarding this problem as well as countless time spent researching, obtaining documentations, and waiting for your representatives to call back as they have indicated. I have a complete and very thick file of all of the above and have detailed accounts of each interaction I have had w/ your representatives regarding this matter. I have talked to many different PennyMac representatives on numerous occasions and each of them have promised me they would get to the bottom of this and correct the mistake.That has never happened. They just keep reopening the file and requesting new review w/ the same outcome. Or they do nothing and fail to personally inform me that the matter has not been resolved. Furthermore, I have suffered extreme XXXX and XXXX XXXX because of PennyMac not properly resolving this matter in a reasonable time frame. As consumers, we have been in essence harassed w/ this problem for almost a full year now. We have been cooperative and patient beyond a normal limit.
We demand that PennyMac correct their error. Return the full amount of {$2200.00} to our escrow account for the XX/XX/XXXX flood insurance they charged to our account as well as any charges they may have made for XX/XX/XXXX or to date. And that they discontinue charging our account for any future flood insurance. And provide us w/ an updated Annual Escrow Account Disclosure Statement for XX/XX/XXXX showing these corrections immediately. PLEASE do not contact us to explain what has transpired from your end over the past several months and/or what you intend to do about this. We have been told the same thing over and over again and given the same explanation over and over again w/ no resolution at all. Contact us only as required by law ( RESPA ) and we will only discuss results that have complied w/ our demands ( please see above ). Thank you.
I understand that under Section 6 of RESPA you are required to acknowledge my request within 20 business days and must try to resolve the issue within 60 business days. This is my initial step in filing a formal complaint w/ HUD and the Consumer Financial Protection Bureau . Also, we are prepared to move forward w/ legal action against PennyMac if this matter is not addressed by you and resolved in the above official and mandated timeframe.
Sincerely, XXXX XXXX XXXX ( and XXXX XXXX XXXX ) - Homeowners Phone : XXXX Address : XXXX XXXX XXXX XXXX XXXX, TX XXXX
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| 06/28/2019 |
Yes |
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- Trouble during payment process
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Web |
Servicemember |
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Dear CFPB, please find this Complaint against PennyMac violations of Fair Debt Collection Practices Act ; Consent Order, case 12-CV-00361 US v. XXXX XXXX, et al, applicable to all Servicers ; and other misconduct.
On XX/XX/XXXX The Comptroller and Banks signed a Consent Order which in part said '' C. Single Point of Contact. 1. Servicer shall establish an easily accessible and reliable single point of contact ( SPOC ) for each potentially-eligible first lien mortgage borrower so that the borrower has access to an employee of Servicer to obtain information.
On XX/XX/XXXX PennyMac ( " PM '' ) sent me a " welcome letter '' ( after XXXX 's letter on XX/XX/XXXX informing me about this transaction ) where PM advised me that on XX/XX/XXXX my loan will be transferred to PM. So, its a brand-new transaction which must be based on VALID documents, with the value paid by be new " owner ''. No documents or any other proof that my loan was actually transferred to PennyMac, for the value paid, were never attached or provided.
I started to contact XXXX and PennyMac right away regarding this transfer and demanded to provide me documents related to my loan, including a copy of my Note with full chain of Assignment ; and proof of value paid, as required by UCC Art. 9, which apply to transfer of all debt, including mortgages.
PM sent me a letter advising that they are " owners/investors '' while Caliber said that ( 1 ) they are owners/investors ; ( 2 ) XXXX is owner/investor.
So, here are at least three " owners/investors '' of my mortgage and the Note at the same time - without a single document in support of this " ownership ''.
As of today XXXX did not respond with any legit information I requested, claiming it as " proprietory ''. According to XXXX XXXX 's XXXX XXXX, these documents must be available ; and contain all necessary signatures.
PM sent me a bundle ( about 8 ) runarounds, without any signatures or names of employees who are responsible for this review and who will be my " single point of contact '', so I can contact them to check for the status of my loan. All letters told the same thing : " we have received your written request to research '' and " we currently conducting a full review '' But this " current research '' is already more than 2 months long for a very simple transaction. It suggests that PM has NO records of my loan. It was a recent transfer and both parties - XXXX and PennyMac should readily have all necessary documents and information available - if they are legit " owners '' who have rights to collect payments from me.
In XXXX XXXX XXXX filed a Complaint against XXXX XXXX claiming that XXXX told employees to lie customers that " we need more time to research '' when essential loan documents are missing.
I observe exactly the same tactic in my situation - no clear respond, just runarouds " we conduct research '', no contact information for an employee who can provide me updates on their research and why it takes to long to review my loan.
Moreover, while PennyMac continues to review my loan, they also violated FDCPA 15 USC 1692g ] 809 ( b ).
I sent PennyMac a Debt Validation request onXX/XX/XXXX.. PennyMac confirmed that they received my Debt Validation letter As of today, PennyMac failed to provide me any validation or respond and continue to swamp me with runarounds " we conduct full review '' - which means they failed to provide validation in accordance with FDCPA.
Under FDCPA, once a validation letter is received, the debt collector must stop all collection activity, including reporting and verifying, until they supply proper validation of the debt. They can not continue collecting until they provide such information.
On XX/XX/XXXX PM mailed me a bill demanding the same amount of debt which I disputed ; with payment due by XX/XX/XXXX, while I received their bill on XX/XX/XXXX. Which is another tactic to obtain " late fees ''. I observed it many times in people 's complaints against PM. To compare : XXXX always sent me billing statements no later than XXXX of each month, so I can have time to submit my payment by 1st, without hassles.
FDCPA says : A collector can't continue to collect on a debt after you've made a written request to verify the debt as long as the request was made within 30 days of the collector 's written notice. [ 15 USC 1692g ] 809 ( b ) After receiving your written dispute, the collector must stop collecting on the debt until you have received verification. [ 15 USC 1692g ] 809 ( b ). The same provision is in MI FDCPA.
PennyMac violated Federal and State laws while still fail to provide the proof of their ownership of my debt ; and validate amount, which are fraudulently overstated.
Under Michigan law, collectors and creditors can not use misleading or deceptive practices, hide their identity, reveal the debt to a third party, or make threats of violence. They also can not use obscene or profane language, harass the debtor, or engage in many other enumerated unfair practices.
The remedies available under Michigan law are less than those available under federal law. Although the FDCPA allows for statutory damages up to {$1000.00}, state law provides statutory damages of only {$50.00}, or {$150.00} if the violation is willful. Like federal law, however, Michigan law allows victims to recover attorneys fees and costs and victims may recover under both the federal and state laws.
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| 09/05/2020 |
Yes |
- Debt collection
- Mortgage debt
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- Attempts to collect debt not owed
- Debt was result of identity theft
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Web |
Servicemember |
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CFPB re PennyMac Dear CFPB, Please find my complaint against PennyMac Loan Servicing LLC ( former XXXX XXXX ) for their fraudulent misrepresentation ; false claims and fraud against XXXX, XXXX XXXX and Department of Veterans Affairs ; identity Thefts ; unlawful collection ; racket ; mail fraud, wire fraud and other crimes.
I demand full investigation against PennyMac under False Claims Act, RICO and other statute for impersonating as a owner/investor/issuer/Servicer of XXXX XXXX Mortgage Backed Securities for some Trust which PennyMac, is not able to identify.
Moreover, PennyMac continues fraudulently misrepresent themselves to me and VA as a Servicer while PennyMac is prohibited to use VA system controlled by XXXX XXXX after PennyMac stole XXXX XXXX trade secrets and information from XXXX, which is exclusively used by VA for servicing.
On XX/XX/XXXX I received two identical letters from VA who informed me that my loan is delinquent ; and suggested to request a forbearance from my Servicer PennyMac.
I was very surprised by these Letters because my purported Servicer PennyMac approved my forbearance on XX/XX/XXXX until XX/XX/XXXX. But VA is apparently not aware of it.
VA is not aware of XXXX XXXX termination of the Contract with PennyMac and still thinks that Penny Mac is a Servicer. Which resulted in a reasonable question how PennyMac can continue to use VA system operated by XXXX XXXX servicing platform if they have no access to it.
Yet, on VAs side it still appears that PennyMac is servicing somebody whom nobody can identify - neither prior Servicer XXXX ( who never told who sold my loan to PennyMac ) or XXXX XXXX or VA or XXXX ; and nobody ever confirmed its role as a Lender, or Seller ; or Issuer of XXXX.
According to XXXX XXXX, the Issuer must be a Lender, thus should be XXXX XXXX XXXX XXXX who also claimed to be an original Servicer, and who transferred my Note to XXXX on my closing day by Allonge prepared by Collateral Shipper XXXX XXXX. XXXX and XXXX both deny this transfer and insist that XXXX assumed SERVICING of my loan on XX/XX/XXXX ( according to XXXX ) or on XX/XX/XXXX according to XXXX ).
How XXXX managed to set up a Trust, appoint XXXX XXXX XXXX XXXX as Trustee, issue XXXX XXXX, service them for three weeks and sell my loan to some secretive buyer while never give me a release of any liens, all in less than 24 hours, remain unclear.
According to VA, they are not aware who is the Seller of my loan to PennyMac ; and can not identify whom PennyMac is servicing ( which, according to PennyMac is some fictitious XXXX XXXX Trust ) ; can not tell who appointed PennyMac as a Servicer ; does not have any information about transfer of ownership of my loan ; and has no releases of liens by the prior owners, as required by VA rules.
When I asked VA to whom they guarantee my loan, VA was not able to identify this party, too.
According to public records, XXXX XXXX sold or otherwise transferred of more than {$1.00} Trillion of their MBS to Federal Reserve. Neither I and any other homeowners never received any Notices about this drastic change of ownership.
PennyMac continues to ignore all my direct and simple questions about ownership of my loan ; and instructed their employee XXXX XXXX to lie relentlessly.
When I ask Mr. XXXX who sold PennyMac my loan, he lies that he answered this question ( lie, Mr. XXXX never told me who sold PennyMac my loan ) ; that this is proprietory information ( lie, this information must be recorded by VA and XXXX XXXX ) and that my question is overly broad and lacks specifics ( lie, I ask a very specific question - identify the Seller and the Trust which PennyMac is servicing ). Mr. XXXX 's evasive and incomplete responses and refusals to disclose are a typical language for XXXX scammers and thieves.
Information I request - who sold my loan to PennyMac and basic information about the Trust PennyMac is servicing ( EIN, CUSIP number and Prospectus must be published ) is not proprietory or overly broad. Bear to repeat, PennyMac never told me who SOLD them my loan.
I again demand Mr. XXXX to disclose who SOLD my loan to PennyMac. He never told me this information.
I never receive any releases of any liens from the prior owner who sold my loan to PennyMac. I demand a copy of release of my lien which must be recorded with VA XXXX XXXX.
I demand the name of the Trust which PennyMac is still servicing for XXXX XXXX and VA and the name of the Agent or custodian of this Trust who can provide me copies of releases of all liens and proof of record of all ownership transfers.
I reserve my right to demand more information from PennyMac based on their respond.
It is very evident that PennyMac is a low capitalized group of thieves which is almost entirely consists of XXXX XXXX criminals whom Big Banks called back to action via XXXX ( XXXX branch ).
PennyMac receives small fees for impersonating as a " Servicer '' without any servicing functions. Big Banks know about XXXX 's executives dishonesty and did not even allowed them to collect any payments.It is all done via lockbox agreement with XXXX and XXXX XXXX.
PennyMac, who is out of their thievery business after XXXX XXXX kicked them out from their system, is so low on funds that they can not even afford XXXX cartridges for their printers, or pay for professionally printed letterheads.
XXXX, XXXX XXXX
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| 08/24/2019 |
Yes |
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
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XXXX, XXXX, XXXX PHONED- and was repeatedly told Penny Mac does not do loan assumptions since I live in New York XXXX I will need to get a new mortgage from someone in New York XXXX Penny Mac is not licensed for New York . ( See attached letters ) XXXX XXXX Further investigation, found proof through HUD research, If Penny Mac is NOT licensed, PENNY MAC is REQUIRED to hire and pay for a 3rd party mortgage company to facilitate loan transfer.
XXXX XXXX Placed complaint with HUD regarding the stalling and insidious behavior Penny Mac is looping me through.
XX/XX/XXXX Received a call days after HUD intervened from XXXX at Penny Mac Loan Services.
XXXX stated ; loan can be assumed, they would locate and take care of third-party lender and would pay for any points.
XXXX XXXX Was notified by XXXX a lender in New Jersey would be reaching out to me and would process paper work.
XXXX XXXX Months went by finally heard from a broker and he didnt take a shred of information from me and said I have to call XXXX and ask him how he wants me to handle this, since Penny Mac is paying for the points this should move quickly XXXX XXXX XXXX Never heard from lender again and or XXXX XX/XX/XXXX - Demanded from XXXX his boss ' information and was then connected with XXXX XXXX, Vice PresidenXXXX of Loan Assumptions!!
XXXX / XX/XX/XXXX, XXXX XXXX provided me with detailed options. Explained fully how to move forward and agreed this has been drawn out, and sent over loan assumption forms that XXXX XXXX and myself would need to sign and have notarized.
XX/XX/XXXX, communicated to XXXX XXXX my attorney was still waiting for MrXXXX XXXX attorney ( my ex ) to have forms signed and sent back XX/XX/XXXX, reached out to XXXX XXXX and asked if the assumption forms, she sent had an expiration date? She responded via email, " NO. THE FORMS NEVER EXPIRE. '' " As soon as you get them send them to me '' Great!
XXXX XXXX Received signed/notarized forms from my attorney, Mr. XXXX had signed.
XX/XX/XXXX Email XXXX XXXX and was informed she is no longer in the loan assumption department and that she had ccd XXXX on the email, and I would need to work with him.
XXXX XXXX - AGAIN, per XXXX request, sent to him via- email ; legal agreement between ex and myself, notarized letter from XXXX XXXX requesting removal and not having financial obligation since XXXX, PENNY MACS notarized forms from attorneys. An article from NY XXXX XXXX and NY XXXX regarding XXXX socialite going through same legal issue as her ex-husband.
XXXX XXXX Mr. XXXX phoned a few days later and stated, the bank will not do the assumption since XXXX XXXX and myself were not married.
Never heard from XXXX, never returned any of my calls thereafter.
XX/XX/XXXX Emailed XXXX, requesting New VP name and email address XX/XX/XXXX, XXXX, XXXX EMAIL EXCHNGE WITH XXXX XXXX o REVIEWING MY ASSUMPTION o REQUEST SENT OF EMAIL BETWEEN XXXX XXXX AND MYSELF VERIFYING FORMS XXXX XXXX SENT ARE NOT STALE DATE/ D O N O T E X P I R E.
o SENT SIGNED NOTARIZED FORMS FROM BOTH XXXX XXXX AND MYSELF XX/XX/XXXX, XXXX, XXXX, XXXX o FINAL XX/XX/XXXX PHONE DISCUSSION o Ms. XXXX stated the forms sent from XXXX XXXX ( XX/XX/XXXX ) for both Mr. XXXX and I to sign and notarize were no longer valid and can not be used.
o If I wanted to have the loan in my name I would essentially have to apply for a new loan. I would need to provide to her Utility bills validating I live in the house, My bank statement validating I was paying for my mortgage, I stated to her my mortgage payments are paid through your website and clearly if I were using a bank account that was not in my name, per your website I would be committing security fraud!!!! I USE MY XXXX XXXX ACCOUNT THROUGH THE PENNY MAC WEBSITE PAYMENT PORTAL. And lastly which was headshaking, my homeowners insurance needed to be changed as my insurance says RENTERS INSURANCE I told her I would not change my insurance and that I pay a great deal of money to ensure the safety of my home and the people that BOARD in my home! Per HUD UNDERWRITTING DEPARTMENT, I HAVE THE RIGHT TO HAVE BOARDERS IN MY HOME, I HAVE RIGHTS!
o I stated per my email with XXXX XXXX, my forms were valid and would not expire and I demand per my legal agreement with MrXXXX XXXX this must move forward. XXXX response again, the information is not valid XX/XX/XXXX XXXX EMAIL, a contradictive email stating to receive a SIMPLE ASSUMPTION I HAVE TO PROVIDE BANK STATEMENTS, UTILITIY BILLS, DEED TO MY HOME VALIDATING MR. XXXX IS NOT ON THE DEED TO MY HOUSE.
I have included emails from all parties and all documents including ; legal agreement between XXXX XXXX and myself, utility bills, XXXX XXXX leger validating, I am paying my mortgage, Home Owners Insurance, Clippings from XXXX XXXX and XXXX XXXX, and HUD GUIDELINES. Deed to home, validating I am only on the house. Mr. XXXX notarized letter validating he has not lived in or has had any financial obligation since XXXX, letter from Mr. XXXX attorney demanding per legal agreement to remove Mr. XXXX from mortgage.
Per HUD underwriting department, it is to be taken into consideration that I have paid the mortgage for the past 10 years without lateness.
Penny Mac is creating a great deal of legal issues for myself and MR. XXXX. MR. XXXX owes me thousands of dollars and will not pay until penny mac removes him from the mortgage.
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| 07/14/2023 |
Yes |
- Debt collection
- Mortgage debt
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- Took or threatened to take negative or legal action
- Seized or attempted to seize your property
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Web |
Older American |
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On XX/XX/XXXX, XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX or XXXX XXXX XXXX ( the Debt Collector ), is working in collaboration with their client, the Mortgagee ( PennyMAC ) and HUD/FHA 's Compliance Manager : XXXX XXXX XXXX XXXX to wrongfully transfer the Title of the property, the PennyMAC Account Number XXXX, FHA Case No. XXXX and Probate Case No : XXXX Served a Notice of Occupancy of Pending Acquisition to wrongfully transfer the Title of this property without providing FHA/HUD Loss Mitigation options to remedy the Foreclosure. PennyMAC has set an Accelerated Foreclosure date trying to deny the Owner/Heir, Confirmed Successor-In-Interest, and Court Appointed Administrator to sell the Property and pay off the balance owed to PennyMAC while preserving any Inheritance balances to be paid to the rightful Heirs of the Property.
The Debt Collector Served the notice with some of the : 1 ) Important Language be in Spanish to English-speaking Americans, 2 ) My Name is Spelled Incorrectly on the Notice to Occupant of Pending Acquisition sent by the Debt Collector, on behalf of their Servicer PennyMAC Lending Services , LLC, and HUD/FHA Compliance Manager : XXXX XXXX XXXX XXXX XXXX 3 ) The Debt Collector 's client, PennyMAC Lending Services, over a six-month period, refused to grant me the Owner/Heir, Confirmed Successor-In-Interest, and Court-Appointed Administrator access to the Estate 's Online Account when I attempted to change, as they recommended, the password reset email was being sent to someone else 's email address. When I reported that to PennyMAC. They did nothing to correct and resolve the issue. PennyMAC has denied me access for the entire time I have been the Confirmed Successor-In-Interest and Court Appointed Administrator. 4 ) Their client PennyMAC Lending Services, also changed the Representatives and Priority Compliance Specialists that are communicating with me, XXXX XXXX to XXXX XXXX to now XXXX XXXX, to influence fluid, consistent communications and allow excuses to be used for not granting access to the PennyMAC Online Account of the Estate 5 ) the Debt Collector and It's Client PennyMAC Lending Services, sends Urgent Notices that requires a response from me the Court Appointed Administrator standard mail which could take up to 10 days or more to receive and Urgent Notices that they are Serving me USPS Certified Mail or XXXX XXXX Delivery with Tracking Numbers.
In Response to the Notice of Occupancy of Pending Acquisition, XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX or XXXX XXXX XXXX, a Copy of the Petition for Leave to Sell the Property that was filed in the State of Georgia XXXX XXXX Probate Court to Payoff the Balance that is owed to the Mortgagee PennyMAC and Remedy this matter was sent Priority Express Mail ( Tracking No. XXXX ), it was picked up by the Debt Collector 's Authorized Agent XXXX XXXX. ( XXXX XXXX XXXX on XX/XX/XXXX at XXXX XXXX.
However, when I spoke with XXXX on Thursday, XX/XX/XXXX, at XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX or XXXX XXXX XXXX, Phone # XXXX, she said there was no record in their system that the Debt Collector informed their Client PennyMAC Lending Services that they had received a Petition for Leave to Sell the Property that was filed in XXXX XXXX Probate Court on XXXX. She said it is documented, however, that they sent a copy of the 51-Page Wrongful Foreclosure complaint to the HUD/FHA XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX. XXXX XXXX XXXX XXXX XXXX, OK XXXX via Standard Mail with no Tracking number to verify receipt to the HUD/FHA Compliance Manager 's ( No name was provided ) only a Phone No. XXXX.
Finally, under the current HUD/FHA leadership , Foreclosure rates in the United States increased since 2007/2008, up by 148 % in XXXX / 167 % in XXXX. If HUD/FHA really tries to help Homeowners and Heirs preserve the ownership of their homes, why are these numbers going up instead of down? I can't answer this question, but I am going to continue to submit this data until someone takes the matter seriously enough to investigate it and expose what is going on. I will also tell you that I sent complaints to HUD/FHA about PennyMac 's Servicing Bad Practices and Irregularities. It was reported to XXXX XXXX XXXX, Home Retention Specialist, and XXXX XXXX XXXX, one of the HUD/FHA Attorneys . They did nothing to hold this Lending Servicer Accountable. My Complaints were ignored, and I was asked by XXXX XXXX XXXX to take them off the Complaint emails that were being sent on XX/XX/XXXX, at XXXX XXXX.
I am Alleging that Foreclosure rates are increasing in the United States, Homeowners and Heirs are being robbed of their Investments and Inheritance because all of the regulators and legislators turn a blind eye to Bad Actors. Please ask them why they do not intercede and do something to help. Why don't they hold their Lenders/Servicers to some kind of Best Practice Standard when it comes to assisting Owners/Heirs, Confirmed Success-In-Interests , and Court Appointed Administrators to resolve defaults like mine and others? They should have helped to Mitigate, Remediate, and Solve this Mortgage Default Servicing Bad Practices and Irregularities before it got to this point. But they didn't!
They just looked the other way. While Years of payments, Investing into a property only to have Generational Wealth be lost so that Bad Actors can benefit.
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| 03/28/2018 |
Yes |
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- Trouble during payment process
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Web |
Servicemember |
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Before I begin I want to say that I spoke with XXXX in one of the CFPB offices yesterday and he gave me some suggestions on how to proceed with my complaints. Thank you XXXX.
My complaint now begins.
I purchased my home in XX/XX/XXXX and have made on-time payments automatically through my bank since that time. The home was financed by a lender who shortly after sold my note to XXXX XXXX. XXXX haunted me for about nine years until I finally refinanced the home in late XX/XX/XXXXbecause XXXX would not refinance my house as they liked the fact I was paying well over 6.25 % interest. The house was refinanced with XXXX XXXX XXXX XXXX in XX/XX/XXXX. Shortly after I was notified that PennyMac was taking over the loan. I was informed the payments would remain the same so I had no problems with the transfer. However after almost a year to the day I was called by a very rude, unprofessional and very unfriendly PennyMac representative who told me to start making my payments with an additional {$170.00} or so a month due to my flood insurance premiums being increased. I told her I have no notices or information of that kind of increase and that I would not pay any addtional monies until someone from management called me and explained what was going on. This person then began a rant about how it was my responsibility and that I had better make the addtional payments. I told her again to have management contact me and we would discuss it. I then hung up the phone.
I never heard from PennyMac management, however I did check with my insurance company and my flood insurance went down over {$200.00}. This representative lied to me from the very beginning. My taxes have gone up slightly, however not very much. And definitely not enough to cause my mortgage payment to go up almost {$200.00} a month. I have continued to receive robot telephone calls from PennyMac since this all began, and even the attempts I have made to contact PennyMac had been unsuccessful as I was always put on long hold times. I work for a living and dont have time to wait around for almost an hour everytime I try to speak with someone about this situation.
After so many failed attempts, over twenty since the very first call, I finally called PennyMac on a Saturday back on XX/XX/XXXX. The representative was friendly and once I explained the situation, we had been on the phone for over an hour. He said he would contact management to have them call me, however that call never came. I waited for a month before I made the next attempt to speak with someone in PennyMac management. I spoke with a manager for just short of three hours explaining the problems with the disrespectful representative, the on-going robot calls numerous times a day, and about the issues with the payment increase.
After a lot of questioning and trying to get to the actual reason why they were trying to get an extra almost {$200.00} from me each month, he finally stated that it seemed the previous lender had shorted PennyMac with the refinance and that they were making me pay the shortage. I told him that was not my problem. In fact before he made that statement I had told him I was willing to pay half of the increase, but not the entire amount because my insurance and taxes had not gone up as I was told. However when he stated the issue was likely caused by a shortage calculation or worse by the previous lender I told him I was not paying the increase. This was on a Wednesday. I told him I would get as much information about the previous lender, XXXX XXXX XXXX XXXX, and we could take it from there. He promised to call me back the following Monday afternoon, however that call never came either.
Prior to the two calls to PennyMac in XX/XX/XXXXand XX/XX/XXXX, I had sent emails, made numerous telephone calls, and even sent several messages via the PennyMac website, however not a single response or reply from PennyMac has been received. I have sent several messages to different departments at PennyMac via their website and still no response from PennyMac.
I continue to make my mortgage payments twice a month as I have for the past several years. I continue to receive automated robot calls from PennyMac, however I will no longer attempt to call them because I am always put on-hold, and I will no longer call them on weekends. PennyMac has ignored every attempt I have made to try and resolve this issue and they continue to ignore me. I have even mentioned in the various messages that I would be contacting various federal government entities about this issue if a manager does not contact me. They continue to ignore me so I am keeping my promise.
I am filing a complaint against PennyMac as well as XXXX XXXX XXXX XXXX. I feel that they may have made some incorrect calculations concerning my refinance with PennyMac. However if that is not the case then PennyMac needs to figure out what the problem is because I am not going to be held responsible for their mistakes. If however the cause is in fact due to increased taxes or insurance, then I will work that issue out with PennyMac to resolve that issue.
I want to thank the Consumer Financial Protection Bureau for assisting me with this issue. I hope that in doing so PennyMac corporate management will finally make an effort to contact me. I thank you for your time and understanding.
Thank you
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| 10/09/2019 |
Yes |
- Debt collection
- Mortgage debt
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- Attempts to collect debt not owed
- Debt was result of identity theft
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Web |
Servicemember |
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Dear CFPB, ( cc : Office of Comptroller of the Currency, IRS, FBI, Senate and other authorities ) Please find my combined Qualified Written Request, Debt Validation and Complaint against PennyMac Loan Services , LLC ( PennyMac ) for their relentless false statements, failure to comply with the law ; failure to validate the debt ; and evasive and incomplete response to my lawful and direct questions.
In XX/XX/XXXX respond PennyMac and their employee XXXX insisted that PennyMac who first appeared in XX/XX/XXXX, is an Issuer of XXXX XXXX securities while my XX/XX/XXXXloan was purportedly pooled into XXXX pool where XXXX XXXX XXXX XXXX XXXX is a Trustee.
All my direct and specific questions regarding information such as Trusts name ; Trusts Closing Day ; proof of value paid by PennyMac for the purchase of my loan were declared as overly broad lacks specifics or proprietory which is blatant lie typical for a Ponzi scammer as defined by Securities and Exchange committee. XXXX XXXX XXXX. * Mr. XXXX previously identified PennyMac as a purchaser/owner/investor/servicer of my loan which is an impossible combination. Servicers are not owners of the loans. Investor/guarantor is XXXX XXXX who requires every Issuer to register XXXX XXXX on MERS as Investor and MUST enter the pool or loan package on the MERS system, as described in XXXX Maes MBS Guide, 5500.3 Chapter 9, Section E ( 3 ), page 7 ( attached ). It was not done by neither XXXX or PennyMac.
Moreover, PennyMac failed to provide explanation from whom they purchased my loan if XXXX is not the owner but merely Servicer who has NO rights to sell anything to third parties ; XXXX XXXX does not sell performing loans from its pooled securities to private funds ; here is no proof of value paid for my debt as a purchaser or owner ; here is no information who appointed PennyMac as a Servicer if XXXX has no authority to appoint anyone as a Servicer for XXXX XXXX XXXX XXXX.
My loan is a VA loan and heavily regulated by XXXX XXXX XXXX guide ; XXXX XXXX Trust Agreement ( aka Pooling and Servicing Agreement ) ; IRS Publication 26-860G ; IRS Pub 938 ; Uniform Commercial Code Article 9 203 ( attached ) ; and many other laws.
According to XXXX XXXX Guide, the Issuer for certain securities where XXXX is a Trustee - is XXXX. PennyMac was never mentioned in ANY XXXX XXXX public disclosures which are readily available online and accessible to anyone, contrary to XXXX and Mr. XXXX statements.
ALL XXXX XXXX Trusts are published online and file annual reports with XXXX XXXX and IRS.
None of it is proprietory or overly burdensome to respond, particularly Trust Name and its closing date. XXXX is a Trustee for only one Class of XXXX XXXX securities while XXXX XXXX has merely three different types of Securities and every change of Servicers is heavily regulated.
The securities must be issued and assigned to the Trust no later than 90 days from its closing day. The Closing Day for my loan was back in XX/XX/XXXX, no later that XX/XX/XXXX. Attached is a list of ALL XXXX XXXX pooled securities in XX/XX/XXXX none of them have XXXX pool. Moreover, XXXX XXXX does not even use AV or CD to codify their pool types. See attached.
Similarly, no one XXXX Trust published by IRS Pub. 936 in XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX and XX/XX/XXXX have pooled security XXXX ''.
All that PennyMac was able to produce as a proof was a Letter of Transfer from XXXX who themselves can not provide any validation of my debt ; or explain who was Mr. XXXX XXXX who prepared a poorly forged Allonge to my Note and transferred it to XXXX on XX/XX/XXXX while XXXX deny its involvement until XX/XX/XXXX.
Moreover, according to Calibers response on XX/XX/XXXX, assignment is not required which is a fatal violation of all applicable laws and rules, particularly IRS rules which govern EVERY GNMA Trust.
Furthermore, in each letter PennyMac stated their billing address in California. ALL my Billing statements are coming from XXXX TX, from the SAME post office where XXXX collected my payments ( cashed by XXXX XXXX XXXX ( XXXX ) ).
My latest payment ( extorted under duress, in violation of all applicable law, particularly FDCPA which requires to cease collection while PennyMac ( fake conduit for XXXX ) accelerated it ) was also cashed directly by XXXX.
In XXXX XXXX sent me a billing statement from XXXX TX where they demanded over $ 3K payment. I responded that this amount is incorrect. In XX/XX/XXXX XXXX sent me another statement ( while PennyMac said its billing address is in XXXX and while PennyMac failed to validate my debt and provide mandatory disclosures to my QWRs ). This XX/XX/XXXX statement still listed a wrong amount PLUS illegally charged me late fees! Which is pure daylight robbery and extortion racket.
My contract with XXXX was a contract for DEBT. There was no contract for revenue for XXXX XXXX XXXX and for a fake party ( XXXX and PennyMac ) with a fake claim. Moreover, the contract has already been destroyed through securitization to create a windfall which already occurred when the XXXX, the Investment Bank sold the parts of my debt for 12 times the amount of the actual debt and avoided to pay taxes from profits since my loan, according to XXXX and all evidence was NOT assigned to any legitimate investor.
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| 11/29/2017 |
Yes |
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- Trouble during payment process
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Web |
Servicemember |
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PennyMac is withholding the final payment for repairs to my home. The homeowner 's insurance claim process began in XX/XX/XXXX. I had a buyer for the home, short sale process, and a provision of closing was the floors to be repaired. My insurance company sent me the check for the repairs with PennyMac as a required signer, no problem this is the process for claims over {$5000.00}. The check was for approximately {$4300.00} after my {$1000.00} deductible payment to be paid. My closing was scheduled for the beginning of XX/XX/XXXX, PennyMac agreed to the terms of the floor being repaired. I waited 2 1/2 months for them to disperse the 1st payment even after them receiving all required documents. They finally mailed the check via XXXX and the tracking information stated it was delivered, I had not received it. I contacted their loss department and requested a stop payment and re-issuance of the check. This process takes 15 business days, my closing was to be the following week, I had to reset closing for the end of XX/XX/XXXX, luckily the buyer agreed. I had to do this 2 more times by the way. Fast forward to the repairs being completed, I contacted the loss department and the mortgage side ( I had learned the two departments do not communicate ) to change my address. They advised it would be updated, this was the week of XX/XX/XXXX. Their website stated the final check was mailed on XX/XX/XXXX and is marked delivered by XX/XX/XXXX. I had not received a check. I called the loss department on XX/XX/XXXX, they had not updated my address as previously discussed and the check was mailed to my old apartment. I immediately requested a stop payment and re-issuance of this check and patiently waited for the new check to arrive. I called once a week to get an update on the stop payment and was told each time it takes 15 business days. I continued to call because by now the house closing has been completed on XX/XX/XXXX and PennyMac has been paid for the mortgage. I no longer have access to view the progress of the check re issuance. I called on XX/XX/XXXX, 15 business days have now passed, and the check still has not been issued. The employees who answer the phone just wants me to hang up and wait for the check, I requested a supervisor, was told no supervisor would be available due to all the claims they were processing. I still waited on the line. I was eventually transferred to a " resolution specialist '' who asked if I could recover the check because they are waiting to see it the check was cashed. I explained if you had stopped payment on the check on XX/XX/XXXX when I called there would be no cashing of the check because there is a stop payment. The specialist then proceeded to ask if I could recover the check. I politely advised for the 6th time, and every time I have called since XX/XX/XXXX, that PennyMac made an error by not changing my address in the first place. I have not received the check and want the check reissued without waiting more days. The specialist advised she would have to escalate the issue via email and it could take 2 more days. This is unacceptable. I can face a law suit, am in danger of having a lien placed on the home that is now with another owner, and they are not concerned with helping or getting the funds to me for the contractor. I would like assistance with this please.
Also, once PennyMac had bought my loan from my original lender there were issues. PennyMac immediately raised my mortgage payment upon purchase of the loan with the explanation that the escrow had to be increased due to taxes. I had to call them constantly for approximately 3 months just to get them to see that I was receiving a {$1000.00} refund in previous years and increasing the payments for escrow would only increase a refund they would need to give at the end of they year. They did not want to adjust my payment because they only annually review escrow. After several calls and attempts they finally did as they should and decreased my payments.
I then moved out of state for work which caused me to fall behind in my payments. I had the home for sale and had a realtor that we agreed to a 5 % commission, I contacted PennyMac to discuss a short sale because I was about to be 2 months behind, I could no longer afford the rent in XXXX and the mortgage in XXXX. The paperwork was provided and PenyMac approved the short sale. The only issue was when they provided my realtor with the paperwork approving the short sale and it had the commission at 6 %. I contacted PennyMac, and so did my realtor, again because the commission was an error and I did not want this to effect the bottom line. PennyMac responded stating that they always pay the realtors 6 %. I know that short sales are an agreement between the lender and the lendee so there should not be a XXXX form sent to me for IRS purposes and the approximately {$9000.00} loss, which is mostly the commission, to come back on me. I failed to educate myself on this issue and now am unsure of the outcome.
PennyMac has deceptive practices in place and if I were a more informed consumer I am sure I could describe additional issues with them. I hope you can review this issue and keep other people from being deceived and harmed as I feel I have in this process.
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| 02/07/2018 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
Older American |
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PennyMac Loan Services LLC received my mortgage payment on XX/XX/XXXX. It is now Tuesday XX/XX/XXXX and PennyMac has not yet credited my mortgage account. PennyMac has held my payment, without crediting my account, for 8 business days.
On XX/XX/XXXX, I received a letter dated XX/XX/XXXX from my current loan servicer, PennyMac Loan Services , LLC . This letter states the following : effective XX/XX/XXXX, the servicing of my mortgage loan is being transferred from PennyMac Loan Services , LLC ( PennyMac ) to XXXX XXXX XXXX , XXXX. This means that after this date, XXXX XXXX XXXX , XXXX, will be collecting your mortgage loan payments from you. Nothing else about your mortgage loan will change.
The letter also states that : Under federal law, during the 60-day period following the effective date of the transfer of the loan servicing, a loan payment received by PennyMac on or before its due date may not be treated by XXXX XXXX XXXX , XXXX as late, and a late fee may not be imposed on you.
On XX/XX/XXXX, at XXXX XXXX EST, I contacted PennyMac by phone and spoke with XXXX. I explained to her that I need to make a payment. I stated that if I did not receive my new account number and mortgage statement from the new loan servicer, I would send my next payment to PennyMac. XXXX stated that I could send the payment to PennyMac and they would forward it to XXXX XXXX XXXX, if I didnt receive a mortgage statement from XXXX XXXX XXXX.
On XX/XX/XXXX, at XXXX XXXX EST, I contacted the new loan servicer, XXXX XXXX XXXX , XXXX and spoke to XXXX. XXXX stated that they did not have my information yet and that the loan will have a new loan number after it transfers to XXXX XXXX XXXX. XXXX stated that I will receive a welcome letter by XX/XX/XXXX, the date of the transfer. XXXX also stated that in order to receive a mortgage statement I will have to make a payment over the phone first or by mail, and then after my first payment the mortgage statements will be generated. I stated to XXXX that I will continue to make payments to PennyMac until I receive a mortgage payment from XXXX XXXX XXXX.
By XX/XX/XXXX, I still had not received any letters from XXXX XXXX XXXX regarding my mortgage account with them. I had no mortgage statement and I did not have any payment coupon nor did I have the new account number from XXXX XXXX XXXX. As a result, I mailed the mortgage payment to PennyMac via USPS priority mail express ( the same way I have being mailing payments to PennyMac in the past 2-3 years ). As per USPS, my mortgage payment was delivered to Penny Mac on XX/XX/XXXX, and signed by XXXX XXXX ( see Attachments 1 and 2 ).
On Saturday XX/XX/XXXX, I called XXXX XXXX XXXX and I spoke to XXXX to see the status of my account and he informed me that they just received the file from PennyMac the day before. XXXX stated that I was not in their system yet. XXXX stated that it takes a few days for the PennyMac file to load in their system but that by Wednesday XX/XX/XXXX my account should be in the system. I stated to XXXX that since I never received a mortgage statement or any correspondence from XXXX XXXX XXXX, I sent the mortgage payment to Penny Mac. XXXX stated that Penny Mac will be forwarding the payment to XXXX XXXX XXXX. It is now Tuesday XX/XX/XXXX and I have not received any correspondence from XXXX XXXX XXXX.
I called PennyMac on XX/XX/XXXX to find out why they had not posted the check that they received on XX/XX/XXXX. I was able to speak with a customer service representative named XXXX. I asked him why, after receiving my payment, they decided not to credit the account. He answered that they had not yet received my payment. I replied to him this is not true and that I have the USPS ( US Postal Service ) tracking information which shows that the letter was delivered to PennyMac and signed for by XXXX XXXX on XX/XX/XXXX ( see Attachments 1 and 2 ). The representative then stated that it takes 7-10 business days to credit the account. I stated to the representative that this is also not true. In the past, after the payment is received, the check has posted to my account in less than 3 business day. For example, in XX/XX/XXXX, I mailed a payment, via USPS, on XX/XX/XXXX ( see Attachments 3 and 4 ). As per the USPS tracking information, the XXXX letter was delivered to PennyMac and signed for by XXXX XXXX on XX/XX/XXXX ( see Attachment 4 ). The check for the XX/XX/XXXX payment posted to my bank account on XX/XX/XXXX ( see Attachment 5 ). The XX/XX/XXXX payment was credited by PennyMac, to my account, within 2 business days after receiving the payment.
I believe that PennyMac is not crediting my account in order to be able to foreclose on my home. In the past PennyMac has made many attempts to foreclose on my home. I have filed several complaints against them with the CFPB. I am behind on my payments and I am in the process of catching up. I believe that PennyMac is now working in conjunction with the new servicer, XXXX XXXX XXXX, to avoid crediting my account. By not crediting my account PennyMac will cause my account to reach 120 days past due and they will be able to foreclose on my home. I believe that PennyMacs goal has always been to foreclose on my home.
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| 07/26/2023 |
Yes |
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- Struggling to pay mortgage
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Web |
Servicemember |
|
During the month of XX/XX/XXXX, the Covid pandemic impacted my family, and I subsequently became unable to complete regular monthly house payments on time. As a result, on or about XX/XX/XXXX, I entered into a Covid Forbearance Disaster Plan, on my VA home loan, titled " Deferred payment. '' The loan is backed by the VA and serviced by PennyMac co.. The guidelines of the year long program are designed, to avoid late payment penalties and allow for the deferment of regular monthly mortgage payments, which aids individuals in financial recovery. A stipulation of the program was that the original mortgage term would be extended from the already 30yrs. up to 40yrs.. At which time, the deferred/owed monthly payments were to be reconfigured and added into the existing mortgage contract, with no increase in monies or expense over the loan term extension. The forbearance agreement terminated on XX/XX/XXXX, at which point I contacted PennyMac as directed. I was informed that my loan would be modified, and I would soon receive the final Modification agreement, to review and acknowledge.
At some point during the first week of XX/XX/XXXX, I received a letter from PennyMac outlining a loan modification, titled " Trial plan, VA disaster, streamline modification agreement. '' ( attached ) The agreement reflected a substantial increase in monthly payment ( s ) as well as interest rate, that being approx. {$1700.00} & 4.0 % above my existing loan contract. Upon receiving this letter, on XX/XX/XXXX, I contacted PennyMac and attempted to ascertain the unwarranted increase in monthly payment ( s ) /interest, with no extension in loan term. During the initial conversation I explained that at some point during the month of XX/XX/XXXX I was diagnosed with a condition in which I would be considered XXXX XXXX XXXX and receive a fixed income from Social Security. I further attempted to explain, my now inability to afford such a considerable increase in monthly payment, as the situation resulted in an approximate decrease in monthly income of roughly {$4000.00}. Regardless, I was repeatedly informed that the aforementioned workout, " Deferred Payment Plan '' had been terminated at the end of XX/XX/XXXX, and was longer available as a solution to my issue. Therefore, I would have to settle for the change in mortgage term as outlined in the mailing. In speaking with several PennyMac employees, I received similar answers, indicating that there were no programs offered to assist me with this situation, other than the one presented. The resounding message, from informational assistant to supervisor, provided three choices ; 1. by the end of XX/XX/XXXX I would be expected to pay all of the deferred monies, ( {$60000.00} ) to bring the loan current, 2. except the substantially increased loan modification as actual, and continue with the increased payment/interest amount monthly and for the entire duration of the loan, or 3. begin foreclosure proceedings after thirty days. While attempting to resolve this matter in a manner of which I could afford, I requested several options, such as paying a lump sum of roughly $ 20k toward the deferred monies, and/or raise the monthly payment to a more manageable amount in order to avoid foreclosure and retain my home. The discussion ( s ) were subsequently terminated with no resolve.
On XX/XX/XXXX I contacted PennyMac again and partitioned any viable solution to assist with my current situation. While speaking with a supervisor I was again offered the three solutions mentioned above. Additionally, I was informed that if I could pay down the deferred monies to only 4 outstanding payments, ( approx $ 48k ) then they would consider exploring additional options, and if that was not possible, then the mortgage would proceed into foreclosure. At this point, I questioned, if the deferred payment plan was discontinued at the end of XXXX, then why wasn't I accepted into the program? Explaining that my forbearance program ended on XX/XX/XXXX which would have allowed an entire month to process the deferred modification agreement. The answer remained the program is no longer available.
Subsequently, I have attempted to locate additional remedies to my issue, by researching the VA mortgage assistance, Social Security, and also other state and federal programs, to no avail.
It should also be noted that at some point in XXXX I had opened a claim with the New Hampshire Home Assistance Fund and the Ahead Program. It was rumored that the organization was allocating tens of thousands of dollars, after having received an exorbitant amount of federal funding, to assist homeowners impacted by the Covid Pandemic. After filling the initial claim, waiting the required time period of 6 months before being able to actually apply, and communicating plus suppling all of the requested supporting documentation over an approximate time period of 16 months, I was denied the $ XXXX that they had earmarked for my deferred payments with PennyMac. At some point in XXXX, ( one month before the funds were actually needed ) I was notified that my home loan of $ XXXX was over the " Conforming Loan Limit '' for homes in XXXX of $ XXXX, therefore the funding was withdrawn.
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| 06/03/2018 |
Yes |
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- Struggling to pay mortgage
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Web |
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Mailing Hard copy of letter to follow up from the below email. Please let me know if you received the below email. Call and I can forward the proof of the wrongful foreclosure by XXXX. I have to go to court on XX/XX/XXXX @ XXXX and want to make sure everyone is aware before my court date. Thanks!
Emailed the following for assistant and never received any responses since last year XX/XX/XXXX From : XXXX XXXX [ mailto : XXXX ] Sent : Tuesday, XX/XX/XXXX XXXX XXXX follow up email To : XXXX XXXX ; XXXX ; XXXX ; XXXX Cc : XXXX ; XXXX ; XXXX ; XXXX ; XXXX ; XXXX ; XXXX ; XXXX ; Consumer ; Civil Rights ; XXXX ; XXXX Subject : Wrongful Foreclosure by XXXX XXXX XXXX and Penny Mac Following up from the mail in letter on XX/XX/XXXX To Whom It May Concern : My name is XXXX XXXX and my mortgage account number with XXXX XXXX XXXX is XXXX. I was approved for a home modification in XX/XX/XXXX. First payment was due on XX/XX/XXXX. I made every payment on time until my payment was returned in XX/XX/XXXX by XXXX XXXX XXXX because my account was transferred to Penny Mac Loan services. I begin to make payments to Penny Mac until my payment was returned by Penny Mac because my home was placed in foreclosure on XX/XX/XXXX, which was 2 days before the returned payment by XXXX XXXX XXXX directing me to make payments to Penny Mac. I contacted them several time prior to the return check in XX/XX/XXXX because I kept getting letters from XXXX XXXX XXXX about a foreclosure. No one was willing to work with me and after several attempts to get my account current ; I went and filled out a Motion for a stay of the sale to stop the foreclosure proceedings on XX/XX/XXXX. Unfortunately the motion was denied on XX/XX/XXXX.
On XX/XX/XXXX, the court wrote a letter to the plaintiff asking for a status report on the case XXXX. XXXX XXXX XXXX responded by setting a foreclosure date for XX/XX/XXXX. I went to XXXX XXXX XXXX on Monday XX/XX/XXXX and I was told by the XXXX in the mortgage department that penny Mac received the loan modification and should honor it because it wasnt finalized before the loan was transferred. I contacted Penny Mac on Friday and I was told for the first time by ( XXXX ) that XXXX XXXX XXXX cancelled my loan mortification when I didnt sign the final modification documents in XX/XX/XXXX. I received the final documents but my last name needed to be changed so I spoke to ( XXXX ) and he asked me to email my drivers license, marriage certificate, and my divorce decree, which was emailed on XX/XX/XXXX and XX/XX/XXXX. He also told me to continue paying my trial amount XXXX until the final modification was completed, which was XXXX. After months of contacting Penny Mac to finalize my loan modification and update my account, they waited until Friday XX/XX/XXXX to tell me that XXXX XXXX XXXX cancelled my modification in XX/XX/XXXX and mailed me a letter which I never received. Why didnt XXXX tell me this on Wednesday XX/XX/XXXX when she reviewed my account? Ive made every payment since XX/XX/XXXX and now they have decided to foreclose without honoring the agreement or allowing me an opportunity to seek the following.
1. Mediation 2. Short Sale of the home 3. Fair Market Sale 4. Deed in Lieu of Foreclosure 5. Assumptions upon sale if applicable.
Please let me know what assistance your office provides to customers that was approved for modification and XXXX XXXX XXXX/Penny Mac refuses to assist and start foreclosure proceeding on your property.
Enclosed are the following documents : 1. XX/XX/XXXX approved Modification documents from XXXX XXXX XXXX 2. Letter showing the transfer of loan to Penny Mac and the returned payment on XX/XX/XXXX from XXXX XXXX XXXX.
3. Court documents showing a date of XX/XX/XXXX when they started the foreclosure proceedings which is 2 days before XXXX XXXX XXXX returned my payment and asked me to make payments to Penny Mac.
4. Documents showing all payments made since XX/XX/XXXX 5. Motion papers and denied letter from the court 6. Letter to show a status report from the court XX/XX/XXXX 7. Letter from attorneys office showing the foreclosure date 8. Returned check from Penny Mac 9. Letter from Penny Mac stating that I havent made payments since XX/XX/XXXX. It also included the reinstated amount needed is XXXX FYI incorrect amount 10. Foreclosure ad with the amount needed of XXXX which is less than the XXXX that they claim I owe.
11. Email from XXXX.
12. Copy of final modification document showing the approval with the wrong last name.
Please let me know if your office can assist. I appreciate you taking the time to review my case. Thanks!
Case # XXXX.
FYI : ALL COURT DOCUMENTS ARE MISSING COURT STAMP AND I NEVER RECEIVED A LETTER FROM XXXX OR PENNY MAC STATING THAT THIS LAW OFFICE WOULD BE REPRESENTING THEM. ALL OF THE CURRENT DOCUMENTS THAT IVE RECEIVED DONT HAVE XXXX OR PENNY MAC LISTED AS LENDER. ALSO, THE FORECLOSURE PROCESS HAVE HUGE DISCREPANCIES, FROM TO THE AMOUNT OWED, THE START DATE OF THE FORECLOSURE WHEN THE LAW OFFICE LISTED THAT I HADNT MADE PAYMENTS FOR A YEAR BUT CONTINUE TO RECEIVE PAYMENTS FROM ME UNTIL THEY RETURNED IT IN XX/XX/XXXX.
XXXX XXXX XXXX cell
|
| 04/10/2019 |
Yes |
- Mortgage
- Other type of mortgage
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- Trouble during payment process
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Web |
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This must be answered by CEO XXXX XXXX XXXX as requested in all the documents presented herein to the CFPB and PennyMac and the CEO of FannieMae not the research department. Please note that this is not a Unilateral nor a A bilateral contract agreement Note none of the parities signed this document, not XXXX XXXX XXXX for what is written in cursive says " WITHOUT CONSENT '' and this was told to the notary during such signing. PennyMac is not on the contract only XXXX XXXX XXXX nor is anyone from Fannie Mae government agency. i XXXX XXXX XXXX asked for the wet signature so that i could show them my original signature printed name, under neath is in cursive WITHOUT CONSENT that which is on the Tender of payment that they declined!
3-603. TENDER OF PAYMENT. ( a ) If tender of payment of an obligation to pay an instrument is made to a person entitled to enforce the instrument, the effect of tender is governed by principles of law applicable to tender of payment under a simple contract. ( b ) If tender of payment of an obligation to pay an instrument is made to a person entitled to enforce the instrument and the tender is refused, there is discharge, to the extent of the amount of the tender. This is in full explanation. I have tendered a payment thereto XXXX XXXX. and they have declined the payment in Three letters as its presented by them to the CFPB. Therefore its discharged. The threats have began as to i owe the a certain currency or payment style which is not explained or disclosed. They XXXX XXXX also said that due to a certain style of a Deed of Trust or NOTE, ill repeat they said NOTE. Well Please note ; In the United States, a mortgage note ( also known as a real estate lien NOTE borrower 's note ) is a promissory note secured by a specified mortgage loan. Mortgage notes are a written promise to repay a specified sum of money plus interest at a specified rate and length of time to fulfill the promise. It's the promissory note that contains the promise to repay the amount borrowed. ( Learn more about promissory notes. ) While a promissory note is basically an IOU that contains the promise to repay the loan, the mortgage or deed of trust is the document that pledges the property as security for the loan. The tender of payment covers all of the above ... " Under thenew law government obligations, bills of exchange, drafts, notes, trade acceptances, and bankers acceptances, because it is backed by the credit of the nation.It will represent a mortgage on all the homes, and other property of all the people of the nation. '' Senate Document No. 43, 73rd Congress, 1st Session, Congressional Record, XX/XX/XXXX on HR 1491 p. 83. So by PennyMac Corp declining the Tender of Payment it is subject for Discharge, and thus it is considered to be at this point in time on record and public record DISCHARGED! No offense to your Position in the Research Apartment but i summonsed the CEO of PennyMac not XXXX XXXX from the same department whom XXXX went on to state that she has never seen this supported in any court or by any law, well this is a lie, we are currently under a state of emergency under the current leaders, and in XXXX President Franklin D. Roosevelt signed the Securities Act of 1933 into law as part of his famous New Deal. The actalso known as the " Truth in Securities '' law, the 1933 Act, and the Federal Securities Actrequires that investors receive financial information from securities being offered for public sale.Over the years, the limit has been raised which reached up to its current limit of {$250000.00}. The 1933 Banking Act required all FDIC-insured banks to be, or to apply to become, members of the Federal Reserve System by XX/XX/XXXX. The Banking Act of 1935 extended that deadline to XX/XX/XXXX. The Glass-Steagall Act, also known as the Banking Act of 1933 ( 48 Stat. 162 ), was passed by Congress in XX/XX/XXXX and prohibits commercial banks from engaging in the investment business. It was enacted as an emergency response to the failure of nearly 5,000 banks during the Great Depression. The Federal Deposit Insurance Corporation ( FDIC ) preserves and promotes public confidence in the U.S. financial system by insuring deposits in banks and thrift institutions for at least {$250000.00} ; by identifying, monitoring and addressing risks to the deposit insurance funds ; and by limiting the effect on the economy like today In practice nothing is unconstitutional in a national crisis. In XX/XX/XXXX, thousands of banks were failing in many states. ... The Emergency Banking Act was proposed and passed on XX/XX/XXXX, in a state of confusion and chaos. Yet this goes on today. So what XXXX and PennyMac is demanding is indentured servitude, to claim that PennyMac knows nothing of this law must come from the CEO XXXX XXXX XXXX whom knows this to be law and fact. If you notice the documents require the attention of the CEO XXXX XXXX XXXX and the CEO of XXXX whom understand these laws and knows of the back office where payments of Tender are made please see attachment for example. Conditional Payment and Tender Of Payment are the same and are accepted by National State Banks and Government agencies such as XXXX XXXX.
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| 02/18/2020 |
Yes |
- Mortgage
- Conventional home mortgage
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
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My complaint relates to my refinance on my property at XXXX XXXX XXXX, XXXX XXXX AL XXXX. I completed an application on or about XX/XX/2019 with XXXX XXXX, my loan officer.
My compliant is with the supervisor XXXX XXXX and XXXX XXXX Home Loan Specialist. I contacted the MAC team to see how my refinance was moving alone. During a previous conversation with Mr. XXXX, he requested forms I had recently submitted to Mr. XXXX. I was concerned that the refinance wasn't moving forward so I started calling weekly for a status update. I contacted Mr. XXXX because I received an email about paperwork, that I had already submitted. I contacted Mr. XXXX and told him I would resubmit all of my documentation and the conversation ended. When I called back because I had additional questions, the customer service person stated to me that I had requested to cancel my refinance. I told the person that was not truth and the person stated Mr. XXXX put in the notes " I said I no longer wanted to complete the refinance ''. I explain to that person that was not true and could they put me through to Mr. XXXX. The individual stated that they attempted to reach him and could not get hold of Mr. XXXX and would send him an email to contact me. That was the last time I spoke with Mr. XXXX via phone call. After about two weeks had passed, I contacted Mr. XXXX and was not successful but I left a message for him to contact me as well. It was not until the following week that I reached out again and was successful in speaking with Mr. XXXX, Mr. XXXX supervisor. I explained to him that I was frustrated with the process, that Mr. XXXX would not contact me back, my retirement paperwork showing my reserves had to be submitted three times the last time an email request was sent on XX/XX/2019, I sent the paperwork again, and an appraisal team continue to call me stating I need a new appraisal after I recently had an appraisal completed with Mr. XXXX that was still valid. The appraisal contacted me on XX/XX/2019 at XXXX XXXX. I was told by Ms. XXXX on XX/XX/2019 that they had been trying to reach the appraisal team but had not been successful, but they would continue reaching out due to the holiday and the vendor being third party. I received a phone call on XX/XX/2019 from the appraisal team stating he was supposed to do an appraisal. I ask the appraisal who did he speak with and it was Mr. XXXX who had been removed off my refinance team. Again, I do not trust Mr. XXXX, nor do I have any confidence that he was ever looking out for my best interest. I am not sure what this young mans problem is with me, but I am disturbed at how far he has gone to possible sabotage my refinance.
After requesting that Mr. XXXX be removed, because of my lack of confidence in this young man, I contacted the MAC team the following week to check the status of my refinance. Only to my surprise that Mr. XXXX was still working on my refinance team again. This entire situation is extremely frustrating to say the least. Somehow on my application was flagged, and I received an email on XX/XX/2019, implying that I had foreclosed on a property I previously had in Missouri. When completing the refinance paperwork with Mr. XXXX, he asked me a set of questions, and one of the questions was regarding if I ever had a foreclosure. My answer was No. I never had a foreclosure and somehow it was checked on my application that I did foreclose on a property in Missouri. Mr. XXXX stated that he will address the issue and kept Mr. XXXX on the team a huge mistake as far as I was concerned due to my feelings about Mr. XXXX. I contacted The MAC team it was verified, I did not have a foreclosure.
On XX/XX/2019, I received a third request from Mr. XXXX to have an appraisal completed or requesting that I withdraw from the refinance process. On that same date I emailed Mr. XXXX a copy of the property condition report that Mr. XXXX stated was still valid and could be transferred to this loan. I never heard back from Mr. XXXX after requesting that he review the information on the appraisal however, the appraisal keeps attempting to do another appraisal on my property and Ms. XXXX has been unsuccessful with getting in contact with this gentleman from XXXX XXXX. The gentleman stated he had to get my correct number from Penny MAC, that was not the truth, I told him via text on XX/XX/2019 that the appraisal was complete already. I had an appraisal completed in XX/XX/2019, by XXXX XXXX with XXXX XXXX.
My rate locked expired the first week of XXXX and I was told by Mr , XXXX, that he would have to pay for the rate lock until Penny Mac could get my loan closed. Around the third week of XXXX I get an email saying after months of working we me that my loan to value was 45 % and they could not do my refinance. Penny Mac new what my loan to value was sine XX/XX/2019 when they had my credit checked twice, had me paying for an appraisal and no peace for months with endless calls going back and forth. I believe I have been discriminated on the basis of race. During the application process, Penny Mac ask did I want to identify my race and I did as an XXXX American women.
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| 12/28/2018 |
Yes |
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- Struggling to pay mortgage
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Web |
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Does anyone else see a problem here? If so, can someone please help me get justice? My goal was to prevent my home loan from Foreclosure litigation, yet I found myself in this exact situation after being bamboozled by PennyMac Loan Services! Heres the long and the short of what happened to me.
I was a former participant in the Get Hope Hardest Hit Foreclosure Prevention Program due to prolonged unemployment. PennyMac Loan Services purchased my loan from XXXX XXXX XXXX in XX/XX/XXXX while I was still receiving HHF assistance from the Indiana Housing and Community Development Authority. After the Hardest Hit Fund Program expired in XX/XX/XXXX, I was approved for, and participated in, PennyMacs Special Forbearance Program.
As a participant in the Special Forbearance program, I was asked several times by PennyMac representatives if I wanted to be considered for a loan modification. I was denied the loan modification because of my XXXX status. I accepted PennyMacs offers to review my file for a loan modification.
Therefore, I delayed listing my home before and after the Special Forbearance program.
The Special Forbearance with PennyMac was valid through XX/XX/XXXX, but by that afternoon I received PennyMacs file stamped foreclosure documentation submitted by their attorneys, XXXX and XXXX!
After I was denied a loan modification for the final time, I reached out to my realtor ; however, PennyMac refused to provide guidance for setting the sale price and only did so after declining three of the five offers for Short Sale I provided, stating on one hand that I was not eligible for a Short Sale, then on the other stating that each offer was not priced at a fair market value.
After many requests, I finally received PennyMacs suggested sale price range of $ XXXX- {$170000.00}, based on the area where my former home is located ; however, the lender set this range but had not inspected for depreciation from age, as well as, normal wear and tear, or appraised the property to determine its actual worth. Furthermore, one of the five offers I received and forwarded to PennyMac for Short Sale approval was a cash offer of {$110000.00}, one was for {$120000.00}, and another was above {$120000.00}.
It is also important to note that each time I requested my Loan Payoff, PennyMacs 7-10 day waiting period for providing payoff information caused perspective buyers to grow anxious or lose interest. Whats more, my realtor and interested parties complained this time loss was counter-productive to the sales process.
By the time PennyMac declined the fifth offer, which was above the bottom of the range they provided and was for the stated reason that their people did not have time to review the documentation because the sale date was within 37 days, I was at my wits end.
This final straw prompted me do a little research on PennyMac Loan Services because of the apparent evasiveness I experienced while trying to sale my home. What I learned was astonishing. The restructured PennyMac was formerly XXXX, a mortgage company at the center of the XX/XX/XXXX subprime mortgage fiasco. PennyMacs CEO and senior executives were at XXXX when the housing market tanked, and their apparent business model at this company is comparable, purchasing distressed mortgages at rock-bottom prices and reselling them for a substantial profit.
In closing, I have always thought it was curious and questioned whether I had been preyed upon when PennyMac acquired my loan while I was an active participant in the Hardest Hit Foreclosure Prevention Program. I could hardly fathom that PennyMac knowingly purchased a distressed mortgage, and I believe based on their track record, this acquisition was with the intention of reselling my home for the benefit of the company.
The Sheriffs Sale is occurred on XX/XX/XXXX at which time the property was scheduled to be auctioned. I believe PennyMacs intentions all along was to allow my property to be sold in the Sheriffs Sale so that the company can gain from the sale. It is my believe that PennyMac calculatedly let the clock run out only having the property appraised when the Sheriffs Sale was scheduled to take place within 30-40 days.
PennyMacs declinations and delays needlessly cost me my home when I had perspective buyers who were interested in purchasing the property ; resulted in expensive court costs and attorneys fees ; and a Sheriffs sale!
I do not feel PennyMacs actions were fair or just because I participated in foreclosure prevention programs, and I tried to sell my home to no avail. Therefore, it is for these reasons, I am writing to ask if you are aware of other HHF participants, or consumers with distressed mortgages who have had similar concerns with PennyMac.
If there are others, based on this companys history of deceptive practices and their handling of my account, I would ask that you examine PennyMacs practices for ethics violations, and require that PennyMac remove the foreclosure from my credit report.
Please feel free to contact me should you have questions or need additional information.
Sincerely, XXXX XXXX XXXX XXXX ( XXXX ) XXXX
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| 11/24/2023 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
- Escrow, taxes, or insurance
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Web |
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When we purchased our home in XXXX, we were required to take out Private Mortgage Insurance ( PMI ) because we did not put a sufficient amount of money down to equal 20 % of the purchase price. We have now lived in our home for more than 2 years, and the value of the home has increased significantly. As such, my wife and I decided to see if it were possible to get the PMI removed from our mortgage payments.
On XX/XX/XXXX, I called the customer service number ( XXXX ( XXXX ) XXXX ) for our lender, PENNYMAC, to speak with a representative about having our PMI removed. The representative was very cordial and seemed to believe that it was possible to have the PMI removed based on the significant increase in value of our home. He said we would need to pay {$150.00} for an appraisal and that an appraisal would be scheduled later. I paid the {$150.00} via credit card over the phone and our conversation ended.
On Thursday XX/XX/XXXX, I received a text message from an appraiser requesting to schedule the appraisal. Here is the conversation between me and the appraiser : XXXX XXXX- Hi ******, this is ******* from XXXX XXXX. I was asked to do an inspection at your home at ********** to remove your mortgage insurance. I was wondering if you'd be available Saturday afternoon at XXXX XXXX thanks.
XXXX XXXX- Hi ******, Thank you so much for getting back with me. Unfortunately, we will be out of town this weekend and the following weekend. Would we be able to schedule for Friday, XX/XX/XXXX in the afternoon?
XXXX XXXX- Are you available Tuesday?
XXXX XXXX- No I'm likely to be in a jury trial all next week. Sorry!
XXXX XXXX - Ok, I'll schedule for XX/XX/XXXX at XXXX. Hopefully the lender won't cancel XXXX XXXX Sounds good!
I found it odd that the appraiser would have mentioned the lender possibly cancelling the appraisal because of the length of time, but I didn't think anything of it because we weren't cancelling an existing appointment or scheduling that far out but arranging a time that worked with our family 's busy schedule.
From XX/XX/XXXX, to XX/XX/XXXX, I did not receive any messages from either the appraiser or PENNYMAC regarding the appraisal. From XX/XX/XXXX to XX/XX/XXXX, I spent all of my time cleaning and preparing the house for the appraisal at XXXX XXXX on XX/XX/XXXX. When the appointed time came and went, I reached out to the appraiser to see whether he was still coming. Here is the conversation : XXXX XXXX- Hi *****, just checking to see if we're still on for the appraisal today. Let me know when you can. Thanks!
XXXX XXXX Hi *****, I'm sorry you weren't notified but your lenders canceled. You can call them back to reschedule.
XXXXXXXX XXXX - Ok thank you.
The same afternoon of XX/XX/XXXX, I called the customer service number for PENNYMAC again. I spoke with a representative and asked why the appraisal I had scheduled was cancelled by them. I informed the representative that I had not received any information from PENNYMAC that the appraisal needed to be scheduled within a certain amount of time, and I expressed my anger that it had been cancelled without consulting me. I explained that because we were going to be out of town consecutive weekends, that as an attorney I had been in a jury trial XXXX week and a busy court schedule the following week and that XX/XX/XXXX was the best date for the appraisal because it was a day I had off work, which was why I scheduled the appraisal for that date. The representative could not tell me why the appraisal had been cancelled. She said she would send an email to the appropriate department informing them that I wanted to be contacted about the appraisal cancellation. I asked to be XXXX XXXX on the email, but she said she wouldn't CC me because it was an " intra company email ''. I informed her that if the right individual did call me and I did not answer that they were to leave me a voice message for me to call them back. She said they don't leave voice messages as a PENNYMAC policy because of security reasons, but the fact that I was asking for a voice message may be sufficient permission. We then ended the call.
As of today, XX/XX/XXXX, I have not received a call, missed or otherwise, from PENNYMAC.
I believe that lenders such as PENNYMAC engage in predatory behavior when customers attempt to cancel PMI based on a few reasons : First, lenders apply a higher percentage of mortgage payments received towards interest on the front end and a smaller percentage toward the principle. This means that those who are required to pay PMI will pay the PMI over a longer period of time creating millions more in additional profits to the banking institution aside from the interest already being paid.
Second, where housing values increase significantly over shorter periods of time and borrowers, such as myself, attempt to have the PMI removed, the lender will cancel an appraisal ( as seen by our appraiser as a customary practice ) in an attempt to discourage a borrower from rescheduling and getting the PMI removed.
Thank you for considering my complaint. Please reach out to me for mor information.
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| 12/27/2018 |
Yes |
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- Struggling to pay mortgage
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Web |
Servicemember |
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We were affected by XXXX XXXX and our mortgage company Penny Mac put us on forbearance. We were told that since we have never defaulted on our payments after the disaster forbearance was over we would be able to apply those payments to the rear and continue making the same payment amount once we were removed from forbearance. My XXXX was XXXX for almost a year and throughout that year I had to call everyday to Penny Macs loss draft department. Since, they wouldn't release any of the funds our insurance gave us to fix the home. No matter what information I sent in they always found a reason not to release funds. It wasn't until we had XXXX XXXX get involved and they immediately responded and released the funds to pay our contractor. During this time we spent our own money along with personal loans we had to take out to pay the different contractors. At the same time we are still on forbearance and falling behind on our mortgage because we can't afford to make payments since we are paying to get our home fixed out of pocket. The only way they release funds is after the inspections are done. We were told the final inspection needed to be 90 % or higher in order for the final funds to be released. After the 90 % inspection was done we were told no funds would be released because counter tops in the kitchen weren't done. How can we continue to pay a contractor to get us to 100 % when 100 % of the funds have not been released. So we had to take out a loan in order to finish what was requested from Pennymac in order for funds to be released. I rescheduled the inspection and the inspector gave us 100 % on XX/XX/XXXX. I get called by Pennymac the same day the inspection was done to tell me since the home is now livable we are being removed from the disaster forbearance plan and have to make the 16 payments we are behind on or they will move forward with foreclosure. I asked to get transferred over to the loss draft department and get told they don't have any information on the inspection being at 100 %. To give them 4-6 days for the inspection to be submitted. I followed up XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX and get told nothing has been updated. Yet when we call the automatic message on their phone let 's us know that the final inspection has been updated to 100 % as of XX/XX/XXXX. I spoke with them again on XX/XX/XXXX and the agent on the phone said the inspection was not uploaded yet. Once I let her know that I heard the automatic machine tell me that we had 100 % inspection as of XX/XX/XXXX she put me on hold and verified and then finally agreed to submit the request for the final check release and once approved by the main department the check would be overnighted. I follow up a few days later and I get sent to the collections department. I get told that we have to make at least six payments for them to even approve our loan modification and that maybe that's the reason the final funds are not being released. After getting transferred to different departments we finally get transferred to the loan modification department and get told we might only need to make four payments to qualify for the loan modification since we are sixteen payments behind and maybe that way funds can get released. After we let the agent know that we had never been late before the disaster affected us she looks more into our loan and puts us on hold to speak to a manager who might agree with us not having to pay anything in order to get the loan modification. We get told to call back to follow up because the manager was busy. After following up we get no response in regards to the modification and get told the check release is still under review. I get a call from Pennymac on XX/XX/XXXX saying we now have to speak to someone in the single point of contact department. The agent lets me know that the final check amount is for the same amount that we are behind on. He would like to know if we want to use that final check to make the 16 late payments. I ask him why we were told that check was to be released to us yet they now have that check in their posession and want to use it towards the payments. I get asked why we have such a large amount left over after repairing the house, and I let him know that we had to use our own money and loans to finish getting the house at 100 % since they failed to release any remaining funds. He says the final check release will need to be approved by legal and after being put on hold I get told the {$21000.00} that we owe will be added to the loan and the new loan amount will be {$160000.00} and we will restart on a 30 year mortgage if the check is released to us. Our original loan was for {$150000.00} and as of XX/XX/XXXX we had {$130000.00} left. I get told the paperwork for that loan modification was mailed out to me on XX/XX/XXXX and the check will be sent overnight the same day XX/XX/XXXX. I called today XX/XX/XXXX and get told the check is under review and they don't know a release date. Meanwhile we are late on our mortgage, being told we will be foreclosed and we need to pay our personal loans we took out to fix the house.
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| 11/01/2021 |
Yes |
- Debt collection
- Mortgage debt
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- Attempts to collect debt not owed
- Debt is not yours
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Web |
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Please find my Complaint and Qualified Written Request regarding XX/XX/XXXX and XX/XX/XXXX written communication on PennyMac 's letterhead with approval of forbearance, demand for payments ; offers of " modifications '' ; lump sums and a demand for a new Note ( in whose favor and why? ) These " letters '' ( calling it a letter may be misleading since it is the automatic production of a printed piece of paper which looks like a document that never included any human intervention, thought, decision, or authority ) was obviously not sent by PennyMac.
It was created and mailed by a XXXX company and the XXXX company is not in contract with the alleged company that is claimed ( by someone ) to be a servicer. The XXXX company is in contract with intermediaries for an investment bank.
Since it is unsigned there is no presumption that any human ever authorized the letter. The failure to at least robosign it or stamp it with a signature indicates or even raises the presumption that whoever sent it meant to preserve plausible deniability.
Please find a proof of my payment deposited on a separate interest bearing account which is available for my REAL CREDITOR ( if exists ) who has a proof of authority to collect from me money if I owe them.
But before I release these money, I need to find out who is my creditor and who authorized PennyMac, XXXX XXXX, XXXX dba XXXX and XXXX and XXXX XXXX XXXX XXXX as Trustee to collect and administer my alleged obligation- including approving my forbearance and offer me any repayment plans or modifications.
In XX/XX/XXXX I requested a forbearance of my alleged obligation by filing my request with CFPB and Senator XXXX office since I do now know whom else I can contact and who has authority to approve it.
On XX/XX/XXXX I received an unsigned approval on PennyMac 's letterhead with PennyMac 's XXXX XXXX address which was mailed to me by someone from XXXX XXXX, Florida where PennyMac has no offices.
On XX/XX/XXXX I received unsigned letter on PennyMac 's letterhead which stated that my " loan '' is reaching " maximum forbearance allowed by the owner or insurer of your loan ''. However, both letter never stated who exactly approved this forbearance and who had authority to approve it.
Both letters have some mysterious identification signs. For example XX/XX/XXXX letter has a bar code above my address and on the side and numbers XXXX XXXX XXXX as well as numbers XXXX and XXXX on the right bottom.
XX/XX/XXXX letter contains names XXXX XXXX and XXXX XXXX, although here is no reference where exactly they employed and which positions they hold with PennyMac to answer my questions.
Mr. XXXX and Mr. XXXX have toll-free numbers- which according to public records also used for robo-calls, including unwanted offers of medical drugs ( XXXX ) or by rental companies in Connecticut ( XXXX XXXX XXXX.
When I called Mr. XXXX at XXXX, it went directly to Mrs. XXXX who relentlessly lied to me during our 35+ minutes conversation.
Please confirm Mr. XXXX, Mr. XXXX and MrsXXXX XXXX employment with PennyMac and how I can contact them directly by a legit phone number, not someone's robo-call center. I prefer to set up a personal meeting with Mr. XXXX and Mr. XXXX at PennyMac 's business office instead of phone calls.
QWR questions : Please provide me a signed authorization from PennyMac 's responsible for accounting officer saying that both letters were authorized and mailed by PennyMac on behalf of whoever they are saying is the creditor. Please provide the name and contact information of employee [ s ] who prepared the letter on XX/XX/XXXX and who prepared the letter on XX/XX/XXXX.
Please provide PennyMac 's office address in XXXX XXXX Florida from which the Approval letter was mailed on XX/XX/XXXX.
Please explain the meaning of bar codes and numbers above my address and on the bottom right side.
Since XX/XX/XXXX contains a deadline XX/XX/XXXX, please respond if there is a self-imposed deadline by someone else.
If it is PennyMac, please acknowledge that the deadline was imposed by PennyMac.
If this deadline was imposed by some third party, then please identify that party and their authority to impose any terms and conditions.
Please provide me an acknowledgment from an identified creditor as to the existence, terms and conditions of the forbearance agreement - after this creditor will prove its rights to collect from me ( aka proof of ownership of my alleged " loan '' by submitting proof of payment for my alleged loan ; who made this payment and when ; who received this payment and copy of wire transfer, ACH or cancelled check - whatever was used as a payment method, along with a copy of the accounting ledger from which money for the payment were disbursed.
If this QWR will be responded with absurd runaround from robo-signer " XXXX XXXX XXXX' please identify Mr. XXXX XXXX office address and direct phone number ; and provide the name of his supervisor who authorized XXXX to send me these letters.
I reserve my right to ask additional questions after I receive your respond Best regards XXXX XXXX
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| 02/20/2021 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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As of XX/XX/XXXX, XXXX XXXX XXXX , XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX, XXXX XXXX XXXX, CA XXXX XXXX has yet to respond.
XX/XX/XXXX Escalated Complaint and Fraud Departments : The loan was transferred from XXXX XXXX XXXX , XXXX ending in *XXXX to Penny Mac ending in XXXX to XXXX XXXX XXXX , XXXX XXXX XXXX *XXXX to XXXX XXXX XXXX XXXX in *XXXX to XXXX XXXX XXXX, XXXX ending in *XXXX to XXXX XXXX XXXX XXXX ending in *XXXX XXXX XXXX 11 months ; The Borrower didn't receive a letter notifying the transfer Borrower reflected {$750000.00} in mortgages owed in the Credit Bureau reporting, causing not to afford minimal lines of credit due to excessive Debt to Income Ratio.
IRS XXXX inaccuracy for payments made throughout the year.
XXXX XXXX XXXX XXXX declared that XX/XX/XXXX payment was made in XX/XX/XXXX, causing inaccurate IRS interest reporting.
PennyMac refused to take payment in XX/XX/XXXX. First, their system was down. Then, when finally patched through the end of the month, I realized the loan had been transferred, and they would not make the payment. The loan was in " transition '' still with Penny, they could still view it and make the payment but refused to because of their internal info message.
The Borrower received random incorrect not in compliance e-mails from XXXX XXXX XXXX not per FDCPA.
Failure to comply with ECOA.
There are failures in Compliance at the time of the Origination and Servicing.
There are failures to respond promptly and ignoring research inquiries in regards to payments. The Borrower 's bank also sent a query in regards to payments received and cashing of those payments. The Servicer would not respond to the Banking institution or the Borrower. There is Banking documentation on the irregularity of cashing and posting payments.
There are irregularities and misapplication of payments.
Deliberate post application of payments without retroactivity posting of these and creating default payment when non existed.
Breach of Contract since origination.
There are failures to comply with the Privacy Act.
PennyMac sent me a complete file /documentation on another client : Name, Address, Social Security Number, Modification and Financial Agreement, etc.
XXXX XXXX weekend and Hurricane Dorian came upon us. In Florida, the little branch that was supposed to make the payment at the end of XXXX was completely closed! As in drove XXXX plus miles to attempt to make the payment. Calls were made to different branches, including New Jersey and the CEO, to make the payment to no avail.
The Borrower wants Full Collateral, with AOMs and Endorsement This account went from being 4 to 6 months paid in advance to the current status.
XX/XX/XXXX, my children 's mother had a tragic accident in which she XXXX an XXXX, XXXX, XXXX, and XXXX XXXX XXXX.
In XX/XX/XXXX, she was XXXX. XX/XX/XXXX, XXXX again. I was let go on XX/XX/XXXX, after taking off the days before pick up our children from school. She was not released for employment until XX/XX/XXXX. She is now XXXX, has a desk over her bed, and spends most of her time in bed since she has an XXXX that XXXX XXXX XXXX. My children fell very ill, one going to the ER in XX/XX/XXXX. We are still trying to figure out what this XXXX was that had had such long-lasting effects.
I regain employment on XX/XX/XXXX, was sent home to quarantine due to XXXX in XXXX, and was let go due to XXXX XX/XX/XXXX.
I have been on unemployment, XXXX & SNAP. I completed my Accounting Degree, and I am I have been in the pursuit of work.
I have immediately addressed the breach of contract as I saw the payments ' misapplication and mismanagement of the loan since origination. During this time, life happened ; life has been happening.
As I have too many documents to upload, please have all communication with me in writing.
PENNYMAC -Please address why the actual monthly statements are not provided. Please provide each monthly statement ever sent.
- Provide the actual Payment transaction history and not an XXXX sheet.
- Provide every Fee charged.
-Provide the full Comment History -Disclose the Discrepancy from the origination of this loan and the current.
-Disclose why the payments were not applied accordingly.
-Disclose why the Credit Report reflected multiple loans in the same time.
-Disclose the lact of Chain of Title and the lack of timely information of the Transfer of the loan of 6 times in a year.
Please provide me any copy that you have received. I have yet to receive actual response to my concerns.
PennyMAC acknowledges the calls in XXXX : XXXX, Those calls were to make the payment. I have records of the multiple calls, attempts, internet attempts. PENNYMAC lies about the calls not being about the payment. This all happened as were were bracing a Hurricane and a long Holiday weekend.
I have all the documentation of their other Borrower, not me, name, address, social security numbers, accounts numbers, loss mitigation and modification process. This is what was sent by PENNYMAC to me This is part of their loan servicing.
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| 12/17/2020 |
Yes |
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Web |
Servicemember |
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My original mortgage was being serviced by PennyMac and as such they are responsible for paying my property taxes and have done so since the beginning. Because I refinanced my VA Loan on and it closed on XX/XX/XXXX-2020. The second half of my 2020 property taxes were due on XX/XX/XXXX-2020 and should have been paid by PennyMac prior to the closing date.
PennyMac is fully aware of this as on my PennyMac Account page, which I have downloaded a copy of, it states that they are the responsible party for paying the taxes on borrower 's behalf ( me ).
XXXX County charges a late fee of 1 % for every month late from the total tax amount owned from 2020 not just the second half that has not been paid and in addition for the month of XXXX an additional 8 % fee is added.
Because the refinance occured on XX/XX/XXXX-2020, PennyMac was responsible to pay the property taxes due no later than XX/XX/XXXX-2020. They did not nor did they notify me or the new mortgage company that they needed to pay the taxes.
However, the Closing disclosure for my new mortgage does indicate that the closing agent, XXXX XXXX XXXX XXXX was to collect a years worth of taxes as part of the loan and send half to XXXX County to pay the second half of 2020 taxes and the other half was supposed to be sent to my new mortgage company, XXXX XXXXXX/XX/XXXX ( XXXX ), to start my new escrow account.
I have contacted XXXX and confirmed that they have in fact received their portion of the collected taxes and have placed it in my new escrow account.
I have contacted the XXXX County Treasurer 's Office and confirmed that they have not received the second half of the 2020 taxes.
I then contacted XXXX XXXX XXXX XXXX on XX/XX/XXXX-2020 and was informed by them that they closed the lone on XXXX2020 and that they had sent the check to the XXXX County Treasurer 's Office on XX/XX/XXXX-2020.
I then called the XXXX County Treasurer 's office back again and explained to them what I was told by XXXX XXXX XXXX XXXX and they instructed me to have XXXX XXXX XXXX contact them directly and to have them provide a copy of the front and back of the check to them.
I recontacted XXXX XXXX XXXX XXXX and spoke with " XXXX '' from the closing team and he stated that he would call XXXX County Treasurer right them, send them copies of the front and rear of the check and then give me a call back to let me know the resolution.
I did not get a call back from XXXX XXXX XXXX XXXX so I waited till around noon of the following day to call the XXXX County Treasurer 's Office to ask if the tax situation had been resolved satisfactorily. I was informed that I still owned the taxes and that they had not received either a phone call from XXXX XXXX XXXX or copies of the check.
I called XXXX XXXX XXXX XXXX back and was informed that there are a lot of " XXXX XXXX '' in the company and they could not figure out which one I spoke to but that they could see my account and that they would have a manager call me back as soon as possible. That was three days ago and I have still not heard anything back.
As of XX/XX/XXXX-2020 I still have not heard anything back from XXXX XXXX XXXX XXXX and I have confirmed with the XXXX County Treasurer 's Office that I am still in default for the second half of my 2020 property taxes.
The original amount owed on the second half of my 2020 property taxes was {$3600.00}. Now due to the late fees and penalties the amount due is {$4000.00}.
PennyMac is now saying that they sent me a refund escrow check which included the unpaid taxes and that I should use those funds to pay the past due taxes. I have not received any such refund check from PennyMac and those funds would not cover the 10 % late fees that are attached.
XXXX XXXX XXXX XXXX has simply not called me back with any help and claim that they paid the XXXX County Treasurer 's Office by way of check dated XXXX2020 which XXXX County claims never to have recieved. And, again, the amount XXXX XXXX XXXX XXXX stated to have paid, {$3600.00}, would not cover the late fees and penalties which have been attached.
I would like to have my taxes paid seeing as how the loan included a years worth of taxes collected in advance and PennyMac failed to pay the taxes in accordance with the original loan terms on time. I do not feel that I should have to pay the late fees and penalties associated with the delinquent payment of the second half of the 2020 property taxes seeing as how PennyMac should have paid them prior to the closing of refinance and even if they did not the closing agent, XXXX XXXX XXXX XXXX should have paid them well before XX/XX/XXXX which is when the 8 % penalty in conjunction with another 1 % late fee was added to the already existing 1 % late fee for the month of XXXX.
I am able to upload copies of the above identified documents when needed as thy have personal information on them and this form instructs to to include any personal information in this initial process.
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| 02/12/2021 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
Servicemember |
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On XX/XX/XXXX I closed on a loan with XXXX XXXX to finance my new home. Within 2 weeks, on XX/XX/XXXX, XXXX sold my loan to PennyMac Mortgage service. On XX/XX/XXXX I received a letter from PennyMac dated XX/XX/XXXX stating that my standard homeowners insurance policy did not cover wind and hail damage and I would be required to get this coverage and if didn't get the coverage that PennyMac would purchase the coverage at substantially higher cost. No date as to when that coverage would take effect. I called PennyMac the day I received the letter to get clarification and find out how much time I had to purchase new coverage. I was informed to act right away, but that PennyMac usually won't purchase coverage for at least 45 days from date of notification. I immediately got in touch with my insurance company XXXX to purchase this coverage and was informed that XXXX doesn't offer that coverage and they referred me to XXXX XXXX XXXX agency which I purchased the policy from. A wind and hail policy was issued on XX/XX/XXXX, which I paid for in full in the amount of {$1000.00}. On XX/XX/XXXX PennyMac Mortgage debited my escrow account an additional {$370.00} to pay for a lapse in coverage from the day they purchased my loan ( XX/XX/XXXX ) to the day my new policy went into effect ( XX/XX/XXXX ). PennyMac backdated this charge from the date they purchased the loan, not the date they notified me, nor the date of my new policy taking effect.
When PennyMac purchased the loan they purchase the terms of the loan. In this case my insurance met all underwriting requirements with XXXX XXXX.
PennyMac debited my escrow account {$370.00} back dated to a date before I was even informed my loan was sold. This resulted in a negative balance in my account. I'm sure this can also raise my monthly payment. At a minimum, the date should be from the date of notification that the policy did not meet PennyMac standards. If there was an oversight in the underwriting process at XXXX XXXX during the approval process, PennyMac should make a claim to XXXX XXXX. They are required to carry error and omissions insurance.
PennyMac has suffered no financial loss. This is a brand new house and I have not filed any claims of any kind. I believe it is illegal to change the terms of the mortgage agreement they purchased. While I don't mind complying with this requirement because i think it's good coverage to have, I do have a problem with PennyMac charging me an insurance charge backdated to a date well before I was notified of their requirement. I was not notified when this charge to my escrow account would be made, nor who this payment was actually paid to or what insurance company they selected or how they arrived at that amount even though I complied immediately when I received notification that wind and hail coverage would be required. I only found out about the actual debit when I logged into my account to make a payment.
Wind and Hail coverage was not a requirement with the mortgage company I closed the loan with. I had no reason to believe that I would need any further coverage or additional would be needed if and when the loan was sold. I'm not an insurance agent and I have been insured with XXXX for 38 years so I did not no they didn't offer wind and hail coverage in that area or that there was any such requirement because XXXX XXXX never required it. I've gone over my entire loan closing package and there is no such disclosure. The policy I bought and provided to XXXX XXXX during the closing process met all underwriting requirements, otherwise the loan would not have closed. If there was such a requirement XXXX XXXX would have notified me during the approval process and this could have been easily resolved before closing.
Please note that there is no way I could provide proof of wind and hail coverage on XX/XX/XXXX if I wasn't notified of the need for this additional coverage above and beyond my standard homeowners policy until a letter dated XX/XX/XXXX. My standard homeowners policy went into effect on XX/XX/XXXX.
When I closed on this loan there is no way I could no exactly when or to whom they would sell the loan to. I do know it is illegal for the new mortgage company to unilaterally change the loan requirements and backdate that requirement to the date of purchase. In this case, PennyMac could have purchased this loan years later from XXXX and back billed me for insurance that wasn't required at closing at some arbitrary rate and potentially pushed me into foreclosure if I couldn't pay the amount.
I've tried to resolve this matter with PennyMac over the phone on XX/XX/XXXX and again on XX/XX/XXXX but to no avail.
I am requesting a refund in the amount of {$370.00}. PennyMAc has in its possession my insurance policy that meets their requirements which I purchased immediately upon being notified even though this was not a requirement when I closed on the loan and PennyMac has not suffered any financial loss.
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| 03/13/2018 |
Yes |
- Mortgage
- Conventional home mortgage
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- Struggling to pay mortgage
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Web |
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I am filing this complaint because of misrepresentation and malicious deferral tactics from both of the lenders referenced above regarding the short sale of my property.
1. On or around XX/XX/XXXX my property was appraised at {$590000.00} by a professional appraiser. An offer was submitted to Penny Mac for {$590000.00} that was not refuted at that time either on property valuation or the calculations submitted on the preliminary HUD itself.
2. On or around XX/XX/XXXX XXXX requested a payoff letter from Penny Mac in order to issue its own payoff letter for the short sale. At that time, a payoff letter was requested from Penny Macs plaintiff law firm ( XXXX XXXX XXXX XXXX ), from the Penny Mac general customer service line, and from our single point of contact at Penny Mac, XXXX XXXX XXXX. The Plaintiff firm stated it would take at least a week to escalate this matter and claims to have sent 3-4 escalation requests through their XXXX portal to Penny Mac for a payoff letter.
3. On XX/XX/XXXX after seven months in the short sale review and negotiation process, I received a written short sale eligibility confirmation from the primary lienholder Penny Mac pending approval from the subordinate lienholder, XXXX XXXX. That confirmation letter did not mention insufficient time to review, a different fair market value of the property or requirement to increase net proceeds to Penny Mac. It only stated that XXXX approval of Penny Macs short sale deal had to be received no later than XX/XX/XXXX ( Attached ) 4. Again, XXXX insisted that in order to issue their payoff, they needed to see Penny Macs short sale payoff first. Penny Mac could not release this information to XXXX because, according to an online chat with XXXX in the loss mitigation department, Penny Mac needed a fee breakdown from its own lawyers ( see attached chat transcript of XX/XX/XXXX ). Penny Mac would escalate the request, which would take 3-5 business days.
5. On or around XX/XX/XXXX we received a payoff letter from Penny Mac, which was sent to XXXX, only after asking for it and escalating it over a dozen times. I am certain that without our intervention it likely would not have been sent at all. To date we have not received anything from XXXX.
6. As XX/XX/XXXX approached, and in the weeks that followed, my attorneys office contacted both Penny Mac and XXXX at least 40 times, each time the one lender deferring to the other in order to move the file forward ( see attached call log ).
7. Between XX/XX/XXXX XX/XX/XXXX XXXX stopped answering their phones because of the merger between XXXX XXXX and XXXX XXXX. When they did start answering their phones, we were informed, no escalation requests can be made because our new systems are not ready. They also stated that when it came to removing the lien from the bankruptcy process instead of receiving a short sale approval, guaranteeing XXXX no money from the proceeds of the sale, they stated you have to do what you have to do and understood that this could be at a loss to them. This has lasted to the present day. Please note : With all its self-aggrandizing PR regarding its Chief Customer Officer, Office of the Customer and customer centered culture, XXXX does not provide any direct customer service email address or have a consumer advocacy/escalation department!!
8. On or around XX/XX/XXXX XXXX XXXX assured she was working with the investor group directly despite XXXX failure to provide payoff information. She assured that the short sale was in the process of being approved and she would cancel the judicial sale as soon as the investors gave the go-ahead. We asked for an approval of 45 days from the XXXX to allow for approval of the short sale itself and XXXX stated that she would confirm with the investors that it would be okay.
9. On or around XX/XX/XXXX, I received notice that a judicial has been scheduled for XX/XX/XXXX due to insufficient time for review, lack of XXXX loan approval, home not priced at fair market value and insufficient proceeds for Penny Mac on the HUD. Our documentation shows that these reasons are invalid. Penny Mac is presumably relying on XXXX XXXX and other web valuation sites that are all currently under multiple lawsuits for the over-estimation of what a property is worth -- often overstating as much as five times the current value of the home itself. Nowhere during the process when it came to valuation were we told our HUD had to be modified to increase the net proceeds that Penny Mac would receive. This was the first time we received this information after continually confirming with them that the HUD was approved in relation to Penny Macs net.
It is our legal position that the actions of both lenders are in violation of RESPA regulations. Under RESPA lenders are obliged to provide both a payoff letter and reinstatement information within 5-7 days of the written request.
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| 11/01/2017 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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Our 3 year old home that we had built was damaged due to XXXX XXXX with approximately 18 inches of water ; as this is our first home and first residential insurance claim and dealing with PennyMac has been the biggest nightmare. We were evacuated from our home by boat on XXXX XXXX at XXXX a.m after our new subdivision drainage system failed and caused water to enter our home and it remained for 6 additional days due to issues. Due to me having medical issues we opted to have a cleaning company on standby to properly ensure clean out when we were finally able to re-enter our property. After all this is our residence that we had built and in our community. We are actually home owners that want our home built back to it 's original state. Our flood insurance adjuster came out to view our property on XXXX/XXXX/XXXX did a complete walked through and advised us that he would give us an advance payment to get us started to at least rebuild part of the interior. We were advised that our mortgage company would have to endorse the check and experiences with accessing the funds would vary and now I understand why. As we have spoken with others ; PennyMac definitely gets an F in this area. Once we were able to access our home and have it cleaned out to ensure the home will be livable without any long term issues ; we interviewed multiple contractors. We received our check and sent the payment to PennyMac to endorse with the understanding that the investment to rebuild is as important to them as it is to us. We finally opted to hire the company that was part of our original build through the builder ( just 3 years ago ) to come in and do insulation, sheetrock, floating ; etc to restore our walls to their original state. Before we hired him I made several attempts through PennyMac useless Loss claim department to be giving different answers. I finally took my issues to their social media page which is ridiculous, because we have NEVER missed a payment and our mortgage has been on autodraft for the past 3 years. Why do I have to deal with your social media reps to get an " ADVANCE payment for the basics? '' If there is not anything else that needs to be done in the home the insulation and walls must go back in. Their social media contact was very nice and able to get us a part of the funds released. I submitted the contract, waiver of lien and XXXX to Penny Mac 2 weeks out prior to the job being completed to make sure the remaining funds would be released for me to pay the contractor. Well that did n't happen. Here we are with a contractor doing the basics to restore the walls, trims and doors and PennyMac has decided not to release funds until they get our XXXX XXXX XXXX worksheet. I contact our adjuster daily and he 's fully aware of our issue, but explained that an Advance Payment should n't require so much as this is just to get you started. The mass impact on XXXX has slowed down the process and he has advised it could take almost 2 months before we receive his report. The interior wall work has been completed with touch ups to follow as the remaining work is done and after 2 weeks of submitting all of the info ; the contractor is ready to be paid the balance. The final balance payout estimated amount was estimated at XXXX ; but there were some unforseen circumstances due to the company that removed things which resulted for us to have to pay XXXX out of pocket and none of that included the XXXX we estimated to receive from PennyMac. There is an additional XXXX advance payment that PennyMac is sitting on that they are giving us the run around to release. I am so frustrated and wish we could refinance now and never have to do business with them again. You are expecting regular mortgage payments, but you are not releasing funds and we are spending out of pocket for costly projects as we have no guaranteed long term residence. All of our finances are going to do work that your incompetent essentials that your business refuses to release and sitting on. We are only doing the necessities to have a guaranteed place to live and they are terrible when it comes to this. Our adjuster has advised it may still be several weeks before his report is available. Your representatives are obviously not prepared for flood as I have been advised multiple times I should have this information by now. I have no issues with sending progression pics or you sending an inspector out, but my issue is with your business holding our funds. We lost our vehicles also in the midst of all of this. NO CONTRACTOR will wait on you to decide if and when you are going to pay. As a mortgage lender ; there are surely alternative options for recourse. During our interview process most contractors declined to assist as they have advised they expect timely payments and this small task has proven your company is XXXX XXXX to handle these claims.
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| 01/25/2021 |
Yes |
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Web |
Servicemember |
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Approximately XX/XX/XXXX, I began to refinance my VA home loan which I obtained in XXXX thru XXXX XXXX XXXX. They subsequently sold my loan to PennyMac. The refinance is through PennyMac since they offered me an incredible VA remortgage loan ; I believe it is called an XXXX. Over the course of the past 6-7 weeks, I received multiple " Closing Cost Detail '' sheets as well as numerous other documents. The rate I was quoted and locked in at on XX/XX/XXXX was 1.87 % 30 year fixed VA loan. Numerous mortgage companies called me, and all said that they had never heard of a legitimate ; loan rate so low. My concerns have to doc with several issues : 1. The costs due at closing changed very frequently ; no previous loans had such changes. I was initially told that I would only have to bring a small amount to closing - that amount has ranged from approximately {$1700.00} to as low as {$280.00}. I'm also concerned about the low interest rate ... ..I think it was made up on adding to the closing cost fees and points.
2.The paperwork initially said that I could use my local title agency which cost less than PennyMac 's own Title company ; but when I went to do this ; I was told by my loan officer that I couldn't, that certain Title fees had to be done by their Title agency ( XXXX XXXX ) which is part of PennyMac. The services in question were the Title Closing Fee, the Title Protection Letter, the Lender 's Title Insurance, and the Title Search Fee. After being told this I acquiesced and went with their company since I " didn't have a choice '' with some of their Title work. The amounts on the very numerous " Closing Cost Detail '' and/or Closing Disclosure sheets changed frequently. On the XXXX statement an " Aggregate Adjustment '' in the amount of {$800.00} appeared. I asked what that credit was for and was never given an answer.
3. I asked several times in XXXX before closing if I could borrow some equity as part of the loan in order to make my bathroom handicapped accessible. I was told that the VA does not allow this, despite reading information to the contrary.
4. I asked numerous times why the closing costs changed so much ; they started off at only a few XXXX dollars and by the end, they were up to {$17000.00} on the XX/XX/XXXX statement. The Title costs on this statement were much more than my Title company would charge i.e. Title Closing Fee {$450.00}, Closing Protection Letter - {$25.00}, Lender 's Title Insurance - {$400.00}, and Title Search Fee - $ XXXX.All to go to their in house Title Company.
5. I was charged an Origination Fee of {$3300.00} and a VA funding fee of {$1700.00}. I had just had my first VA loan thru XXXX XXXX XXXX in the fall of XXXX ; some documents that I read said that I would not have to pay one or both of these fees again for my XXXX refinance.
6. Finally, we were suppose to close on XX/XX/XXXX ; a notary was to come to my house since I am medically disabled.I did not know who that would be. I was home that day and since no one came by the afternoon, I called the number I found on an email for the traveling notary. She said it was too late to close on XX/XX/XXXX and that she would schedule me for XX/XX/XXXX at XXXX XXXX. I then received this email from my loan officer : Hello XXXX, " I attempted to call you but I was unable to reach you. We are attempting to have someone still come out to your home tonight to close on your loan. This is due in part to the fact that it appears that the appointment time was changed without prior consent. Unfortunately I am out of the office for the rest of the weekend as of XXXX EST. I will follow back up with you on Monday XX/XX/XXXX.
Please let me know if you have any questions or concerns.
Sincerely, XXXX XXXX Your m.a.c Team PennyMac Loan Services , LLC Corporate NMLS # XXXX Email : XXXX Phone : ( XXXX ) XXXX or ( XXXX ) XXXX MMT Support : M-F XXXX to XXXX EST Fax : ( XXXX ) XXXX '' I was home until XXXX. I did not change the appointment time myself ; the notary did. She is the one that suggested a new closing time of Monday XX/XX/XXXX at XXXX XXXX.
I received the last " Closing Cost Details '' on XX/XX/XXXX. Initially, I was told that I wouldn't have to bring any cash. At one time I was told I would have to bring {$1700.00}, on this statement it its down to {$360.00} As I stated above, I am a medically XXXX vet, XXXX of widespread XXXX XXXX. I have had numerous loans and have never been bankrupt ; I have paid all of my monthly mortgage bills on time. I am confused by this loan, by the 6 points above and humbly ask for your help to know if the above points and the way that I have been treated is legitimate. I really need to have some equity as part of this loan for a XXXX bathroom. I will call Monday morning to discuss since closing may happen today. Many thanks for your time and help.XXXX
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| 11/27/2020 |
Yes |
- Mortgage
- Conventional home mortgage
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
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On XX/XX/XXXX, PennyMac locked the rate for me to refinance a mortgage in the amount of {$340000.00}. After 3.5 months and many document request reiterations, the company denied the refinancing loan based on a reason that is not supported by facts.
The decision letter cites " credit incomplete '' as the reason for the denial and attached three credit reports as the evidence to support the " credit incomplete '' claim but the credit reports only provide my credit scores ( which are excellent, ranging from 730 to 770 ) and do not provide reasons to explain " credit incomplete ''. In addition, if the company found out from the credit reports that my credit is incomplete, then they should have told me immediately after they received the reports on XX/XX/XXXX. And yet, after they received the reports, they approved my loan application. So obviously, the denial decision which came 3.5 months later, couldn't be based on the credit reports.
If the decision had been made based on the legitimate reasons and especially, if I had not had a firsthand terrible experience with the company, I would have accepted and move on. But that is not the case.
In the past 3.5 months, what I have experienced with the company is : the employees ' unprofessional and abusive behavior that shows totally disrespect of the customers.
Unprofessional - the employees involved in the process made many errors and in spite of my corrections, they continue these mistakes. For example, I currently rent an apartment as residence and I disclosed this fact and the monthly rent on my application. Yet, the employees started requesting the mortgage statements on my apartment early on. I wrote them to correct their mistake and stated that it is a rented residence and I don't have a mortgage on it. My correction did not stop the various employees requested the mortgage statements several times. The employees just choose to ignore the fact and insisted on requesting a document that does not exist! They made the same mistake about another property I own. I bought the property with cash. Again, I told them about this in writing. Again, it did not stop them from requesting a mortgage statement again and again. The employees communication with me as a customer is essentially zero. In the past 3.5 months, almost of all their communication with me was to request information but given their numerous mistakes with regards to the document requests, I tried in vail to get their responses to these errors and never have had any. Not in any situation in the past 3.5 months, did the employees initiate communication to address my concerns and this is appalling especially considering they made so many errors.
Abusive behavior - In this whole process, the company 's employees, collectively, just kept harassing me with repeated requests for documents as if that is all they do. Their behavior was abusive because : 1 ) they kept asking for the same documents over and over again. Often times, they changed the employee who asked for the documents. Someone asked for the bank statement and I provided and then a week later, someone else came to ask the same bank statement and this became a pattern for many of the documents they requested ; 2 ) they totally ignored any of my communications with regards to the documents requests and kept asking for the documents that don't exist. It became a great hassle for me to have to deal with these constant harassments in the fear that I might be accused of not cooperating and providing what they need. My rights as a customer were certainly violated under these circumstances.
I have documented records that show that I satisfied every legitimate request their employees made throughout this whole process. I have a good credit score. I have a good income. I don't have debt except for the home mortgage, my debt to income ratio is significantly below the market threshold and I don't have anything complicated in my financial profile. By any measures, I would be viewed as solid borrower. So I don't know exactly why I've run into such trouble with the company.
They are only two plausible reasons : one is the company 's process is seriously flawed and the employees have not been trained properly and I've become a victim of it. I have hard evidence to prove it ; the other is that their employees have a racial prejudice. I am a minority and I spoke with an accent. I can not imagine that any normal customer with what they might view as the " right '' race would be treated this badly. Of course, for this latter one, I can not provide the hard evidence but gradually I started to feel it.
I have documented all the records to support my complaints. It is just too much to upload. The company also have these records but if they request, I can provide in the dispute process.
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| 01/27/2022 |
Yes |
- Debt collection
- I do not know
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- Attempts to collect debt not owed
- Debt is not yours
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Web |
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Complaint and XXXX to XXXX XXXX XXXX XXXX as Trustee to identify how many Servicers they retain to Service my alleged loan pooled in XXXX XXXX XXXX I request XXXX XXXX XXXX XXXX XXXX XXXX and PennyMac Loan Servicing LLC to identify ALL actual servicers who perfrom servicing functions under name of " PennyMac '' I have a cohort of at least XXXX companies who are accompanied by several nest-doll shell name corporations who perform all servicing activities for my alleged " loan '' - except PennyMac whose name appears on envelopes only.
On XX/XX/XXXX someone sent me a Modification Agreement and VA Partial Claim named as XXXX XXXX where XXXX was listed as a recipient of these documents after recording to XXXX XXXX XXXX XXXX located at XXXX XXXX XXXX XXXX, XXXX CA XXXX. See attached documents.
I filed a complaint with CFPB requesting to identify XXXX full corporate name and explain why they conduct servicing of my alleged loan if another company PennyMac Loan Servicing, LLC claims to be a Servicer who is acting under authority of XXXX XXXX XXXX where XXXX XXXX XXXX XXXX XXXX XXXX XXXX who controls all financial activities for this Trust, including retention of sub-servicers like XXXX.
On XX/XX/XXXX someone from purportedly XXXX responded to my CFPB Complaint where an undisclosed to me person said : XXXX 's full corporate name is XXXX, XXXX. It is a licensed title agency.
XXXX was retained by PennyMac to provide a title report to PennyMac for property located at XXXX XXXX XXXX, XXXX, MI XXXX. If the modification agreement is signed, XXXX would also be retained, in its capacity as a licensed title agency, to record the modification agreement in the county real estate records for the county where the property is located. XXXX has no other involvement in the transaction described in the complaint.
This respond lacks XXXX XXXX XXXX XXXX XXXX who filed it ; or name of its authorized agent whom I can contact with my questions. Moreover, this respond created more questions than were listed in my original Complaint.
I need XXXX and PennyMac 's clarifications about this Modification and Partial Claim since I do not know who sent it to me and do not understand terms of these Agreements, specially VA Partial Claim. Please respond with the name of actual employee who sign this QWR and whom I can contact directly at XXXX XXXX XXXX XXXX
First, please disclose if XXXX knew that their name was being used to assert functions that XXXX does not perform?
Second, this respond said that XXXX was retained by PennyMac to provide a Title report for my property which is publicly available on Recorders website. Please verify if XXXX actually performed this Title Search and sent me this Modification and Partial Calim or if someone else sent it and if so, who sent them. ( and under what authority if from XXXX )?
Third, does XXXX know about retention of XXXX as subservicers?
According to CA Secretary of State, XXXX XXXX was California domestic corporation dissolved on XX/XX/XXXX and located at XXXX XXXX XXXX XXXX XXXX CA XXXX. XXXX who sent me these documents is located XXXX XXXX XXXX XXXX, XXXX CA XXXX. I need clarification in which State XXXX XXXX mentioned in CFPB respond is incorporated to act as a sub-servicer for my VA loan.
Please identify full corporate name of PennyMac who retained XXXX as a sub-servicer. Please disclose the name of my creditor under whose authority PennyMac hired XXXX to perform sub-servicing activities. Please state if XXXX XXXX retention was approved by XXXX as Trustee for XXXX XXXX XXXX. Please disclose the name and contact information of XXXX authorized employee who hired XXXX, XXXX.
The respond also said If the modification agreement is signed, XXXX would also be retained, in its capacity as a licensed title agency, to record the modification agreement in the county real estate records for the county where the property is located. XXXX has no other involvement in the transaction described in the complaint It contradicts with XXXX instructions to return recorded documents to XXXX XXXX XXXX XXXX AFTER recording, instead of returning it to PennyMac.
Also, my package involved two separate loan Agreements one Modification Agreement and one VA Partial Claim which comes directly from VA.
Please clarify if XXXX was hired by VA or under VA authority to record VA XXXX XXXX in the County real estate records.
Based on these documents, it appears that XXXX is already retained and authorized by my Creditor [ s ] to accept recorded documents specially VA Partial Claim, which is a separate loan provided by VA ( XXXX XXXX ) and not related to my Modification Agreement.
Please explain why these documents must be returned to XXXX after recording and that XXXX is going to do with these documents.
Regards, XXXX XXXX
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| 09/20/2019 |
Yes |
- Mortgage
- Conventional home mortgage
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Web |
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I had a FHA loan for the past 2 years. In XX/XX/2019 I began the process of a refinance to get rid of my PMI. On XX/XX/2019 my loan was approved and I was set to close. On 4 different occasions in XXXX the closing had to be rescheduled from the XXXX XXXX. First attempt in XXXX, the XXXX XXXX didnt have the proper closing documents from the mortgage company and couldnt close. The 2nd time, the XXXX XXXX was a no show. The 3rd time the lawyer from the XXXX XXXX came out, we began the signing of closing and half way thru the packet there were words and paragraphs missing from the closing documents so the closing was nulled. The 4th time XXXX XXXX we finally signed closing documents. I was advised no mortgage payment was due on XX/XX/2019 since I just closed and the next payment was due XX/XX/2019. Since I had autopay on my mortgage they debited my account, I called to reverse the funds. I was refunded XX/XX/XXXX. On XX/XX/XXXX I was called by Pennymac Mortgage advising that we had to close again because the closing date didnt match with the documents signing date. I was supposed to get a refund of {$1700.00} ( cash in hand ). Never got this refund, never heard from Pennymac for about 3 weeks. I called almost everyday to get this situated. None of the representatives on the phone knew how to handle this situation. They knew someone dropped the ball on their end. On XX/XX/XXXX XXXX I paid my monthly payment, since the new loan was still on hold and not funded. While I waited for Pennymac to contact me, I reached out to other Loan Mortgage companies who ran my mothers credit who is my co-signer. They advised me her credit score was XXXX and that she only had 3 late medical bills that are affecting her score. They advised me if she paid these balances, the closing costs would be half what I was paying. When I signed closing documents on XX/XX/XXXX, the closing costs were about {$10000.00}, about XXXX was from paying for points to obtain a 4.125 % rate. If Pennymac told me to fix my moms credit and then reapply to save myself XXXX, I would of done this instead of going through with the loan. At this time I emailed Pennymac and advised them to cancel this new loan. The loan officer called me back and tried to knock down the price of closing, told me he was able to get to loan down to {$420000.00}. Which saved me about {$3000.00}. My initial loan amount was XXXX, after 2 years of paying my mortgage I was able to bring down the balance to XXXX. After refinancing, the mortgage went back up to XXXX. I didnt want to proceed with this, as I was not looking for a case refinance. I just needed to get rid of the PMI. Doesnt make sense to refinance and the loan amount goes back up to XXXX just to save XXXX/monthly ( PMI ). The loan officer was able to get some lender credits and advised me the new mortgage loan amount would be XXXX. Now we are in XXXX, and they advised that I still needed to sign some documents in order for the new loan to get funded and processed. I still have no made XXXX mortgage payment. Finally I get a call from the VP of customer relation by the name of XXXX XXXX, who advised he was going to get this resolved. Keep in mind XX/XX/XXXX my loan was approved, 4 different times the ball was dropped on closing, and even after signing the documents, they told me I needed to close again, never heard back from the loan officer for 3 weeks, called into Pennymac everyday, was told this was escalated and I was going to get a call back. Never did. The processing agent, XXXX XXXX who was working with me throughout this process, never kept me posted on what was going on, he ignored my emails and phone calls. Once this went to the VP, XXXX XXXX, he advised me they can not compensate me for waiting 60+ days, since the loan was signed and closed, so they couldnt take anything off the loan amount, but even after signing I was able to call Pennymac and talked to XXXX XXXX who was the original representative I talked to, and he was the one who credited me XXXX. The end result was the VP advised me I did not need to re-sign, Im still waiting for the loan to get funded, I have no made a payment to my mortgage for XXXX, and Im waiting to be compensated as I waited 60+ days to close.
** Also now on my credit it shows 2 open loans, with a total balance of XXXX, on both my mothers and my credit reports. ** My escrow balance paid off my homeowners insurance for XXXX but I was charged {$2000.00} in my closing costs for homeowners insurance, I was supposed to get a refund for this, also havent gotten this.
Even after this loan as closed, I never got to skip the following months payment, I closed in XXXX, I paid XXXX payment so far, have not made XXXX payment yet, was due XX/XX/XXXX, but the portal states the loan has not been funded yet.
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| 02/22/2021 |
Yes |
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
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This is in regards to property located at XXXX XXXX XXXX XXXX Florida.
I tried to apply for FHA Streamline Program recently. I was told about this program from XXXX back in middle of the year of XXXX. It was explained that knowing that the Co borrow was furlough, that we will not be able to apply for it until he's working again. At that point in time about the furlough it was clearly explained, all we had to do was prove that both of us is working now. That no other documents needed to be sent just 4 paychecks.
That there was no appraisal, that they can remove the PMI. That there was no process time or anything else.. and that there would be no need for any type of credit check or anything else. Nor were they looking for any type of FICO score.they also have stated to me that they could remove the PMI if I do the steam line which could save me a few hundred dollars a month. Plus all for me a interest rate under 3 %. it seems at that point in time they was doing everything to try to sell the streamline refinance. They made everything sound good.even convincing us not to leave them to go somewhere else to deal with them and they'll be able to assist me better. They said had more to offer than anybody else and I wouldn't have to go through so much red tape. What was being offer before and what we was told back then, seems to be two different things that is going on now.
However, when we went to go and apply for the steam line refinance. Everything that we was told was completely false information. In the beginning of XX/XX/XXXX. Two different reps with spoken to, and two different reps had two different stories to tell about the streamline. Yet we spoke into reps back in XXXX about how this program runs. It seems like every single rep was not on the same page with each other, seems like fasle advertisement and miscommunication.
So now when my coborrower had returned back to work and we're ready to do the steamline refinance now we're giving a hard time.
Now we're told we need it a certain XXXX score in order to qualify which that was never told to us before.
Next we was told that we needed to supply all these different documentation just like if we was doing a regular refinance. Which at that point in time before we was told we did not need to supply any documentation but pay stubs only.
Back then I was told I could remove the PMI since I've been with the loan for over a year already. which in this case they told me they would not remove the PMI if I do the streamline.I wanted to have the PMI definitely to be removed.
Back then I was told I did not need appraisal. Now I'm being told they have to come out to the house and appraise the house to see what it's really worth.Which one I bought this house was a brand new house..
I was told before I could get an interest rate under 3 %. Then they telling me no that's not the way that program runs you can only go down by 1 % intrest so that means I would get a high 4 % .If that or maybe I might have to pay more an interest. Which that does not make any sense.
I was told back then there was no credit check. And you didn't have to have the perfect credit score. Now I'm told that has to be a credit check and I have to have a excellent credit score, to qualify.
We was also told before if I applied for the streamline, that I was told we could do a cash out. Because I wanted to consolidate my credit card debt into one. Then we was told that we could not do any form of cash out with this program.
We was also told that if I do the streamline refinance, that there was no form of any type of closing cost or any other fees. Then I'm being told that there is a number of fees associated with it.
So it seems everything that we was told about the streamline refinance, all has been lies. They also provided Fasle advertisement. I'm not the only one who feels this way on their XXXX and community boards, and social media, everything that I'm staying here basically is what a lot of people are also complaining about in their reviews..
I want this program. Because a lot of things change between my job and my co-borrower 's job. While we live in an uncertain world right now, we are trying to save as much as we can. So we can never fall behind. So now I want to do this streamline refinance.. however I want to do it with the promise that was given. Me and my husband and borrow XXXX, has been back and forward talking to PennyMac, and we all are being told different stories and it seems like some type of bait and switch is going on here with some false advertisement. Which they are misleading a lot of consumers. We would like that to change and they need to better train their reps and what information they are providing to the customers.
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| 01/03/2019 |
Yes |
- Debt collection
- Mortgage debt
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- Attempts to collect debt not owed
- Debt is not yours
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Web |
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As of XX/XX/XXXX, PennyMac loan started reporting derogatory/foreclosure information in the amount of XXXX to XXXX credit agency. XX/XX/XXXX my divorce from was final and my ex-husband was awarded the home. During the year of XX/XX/XXXX, I learned that the mortgage payment was not being made on the home. He had filed bankruptcy. In attempt to save my credit, I called Penny Mac and upon every call, they stated that they could only provide limited information because the house was in bankruptcy proceedings. As of XXXX of XXXX, I started the short sale proceedings. The first agent XXXX XXXX whom I contacted on XX/XX/XXXX received the documents but did nothing with them. Never hearing from anyone, again, I started making calls again, only to be told again that I would be given limited information because the home was in bankruptcy.
XX/XX/XXXX we began to work with XXXX XXXX ( documents attached ). Ms. XXXX held our information and she did not respond upon receiving our information either. After several attempts of trying to contact her, I had to call her supervisor several times to get a return call from Ms. XXXX. After speaking with XXXX, she stated that our paperwork was in their California office and was never scanned in the system.
A year and some months later, with much missed informed information and being given the run around, all of our required documents were received by PennyMac. I was told that the short sale was denied stating that PennyMac did not have enough time to review our information. This is not true. PennyMac had approximately a year. If it was not enough time for them to review it was because of Penny Mac not forwarding the information in a timely manner. Even to that I never received a denial letter. I called Penny Mac and spoke to XXXX XXXX and he emailed me the denial statement ( attached ). The emailed a short sale letter from XXXX XXXX of Penny Mac dated XX/XX/XXXX states, Your request was submitted with insufficient time to evaluate the short sale prior to the scheduled foreclosure sale therefore, we can not review you for any Loss Mitigation Options at this time. The Investor on your loan/Mortgage insurer did not approve the short sale.
I have never felt so humiliated in my life. This I do not understand because : 1. I was divorced and the home was awarded to my ex-husband on XX/XX/XXXX.
2. When I started making phone call after I was informed of the late payments by mail and in order to save my credit, I was told that Penny Mac could only give me limited on the information because the home was in bankruptcy.
3. I started the short sale processing in XX/XX/XXXX and had provided everything that was asked but the home still went into foreclosure.
By the court, I am not legally responsible for and I did everything in my power to correct this issue the best I could with limited information.
Frustrated, I began to research how to get a foreclosure removed from you line of credit, I came across the bulleted statements below. The bulleted statements states what a mortgage company would have to do and I also gave my experiences. As I recall Penny Mac did not offer any of these things : Direct access to a service representative. You should not have to go through a call queue.
o Many times, the representative was not present, and I ended up in the hold queue anyway or receiving a call two to three days later.
After you have missed two consecutive payments, the servicer must tell you about loss mitigation options.
o I had to call PennyMac to find out about this process.
The servicer must consider all foreclosure alternatives. They can not steer you to options most beneficial to them.
o I was not counseled on any options. I questioned the short sale option because we had several buyers who wanted to purchase the home and I could not think of anything else for use to be able to move forward with the sale. Again, information given to me was limited due to XXXX having the home in bankruptcy. Within the email you can see where I asked Ms. XXXX to sit down with us to explain all options and the meeting never took place.
If you have applied for loan modification at least 37 days before your scheduled foreclosure sale, the servicer must consider and respond to your application. The servicer also needs to give you time to accept the offer.
o I was not given this option. Again, it took me calling Penny Mac only to find out that the short sale option was denied. I was told by XXXX XXXX that there was nothing else I could do because the house was scheduled for sale.
The servicer can not foreclose if you have come to a loss mitigation agreement, unless you fail to meet the terms of the agreement..
o This was not given to me as well.
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| 04/19/2023 |
Yes |
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- Trouble during payment process
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Web |
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I was in forbearance during the pandemic. When I was getting ready to exit the forbearance the " point Person " for the mortgage loan servicer and I spoke by phone. I had lots of questions, and they advised the amount owed would be placed on the back of the loan. I recall '' deferred " being mentioned, but that is not what happened.
I specifically asked about the escrow, and how it would be handled, due to my payments beginning in XXXX which is mid year. The person I spoke to said I would be starting at " XXXX ''.
I asked multiple times how escrow would be handled, knowing if escrow is negative it can be almost impossible to climb out of that hole. I was assured that my escrows would be paid for all back payments. My loan was reinstated and my first payment was due XX/XX/XXXX of XXXX. I made my payment on XX/XX/XXXX for XX/XX/XXXX.
In XXXX I went to my online portal for Pennymac and discovered a negative balance owed for escrow.
I called to inquire and was advised that I had a negative balance, due to my homeowners Insurance and taxes both being due in XXXX. I advised they had just gotten a XXXX Partial claim payment how could my escrow be short any money.
I have emailed the secure portal and the answers that have been provided do not answer the question.
I have called and spoken to Escrow dept, Regualar representatives and Partial Claim people. None of the answers make sense as to how with aXXXX partial claim payment I owe negative escrow.
When talking to one person I was advised that in XXXX my taxes were incorrectly collected by the escrow company- they went off the previous year. The previous years taxes my house was dirt ( it is new build- XXXX XXXX XXXX ) So they said they collected the wrong amount.
I am required to escrow with them because it is an FHA loan but they did not verify how much they are required to collect and pay?
I Then reviewed all 3 years of my escrow and I found that when the partial claim of XXXX was applied I calculate out the payments and {$6900.00} was paid to interest, {$5500.00} went to principal and {$5400.00} was paid to escrow. Escrow was paid the least amount.
I thought according to the Covid Mortgage Final servicing Rule, it had to wipe out pre-existing debt when being offered as a solution. This partial claim did not do that. My XXXX escrow analysis showed a {$2000.00} negative balance, and a XXXX reserve payment required, for a total of {$2500.00} and if unpaid my payment will jump from XXXX to {$1500.00}. This was not the understanding I had regarding forbearance. Additionally, my Taxes are due, XXXX but can be paid until XXXX with a total increase to the bill of {$76.00}. However the servicer, does not review escrow until XXXX and begin new payments for any shortage until XXXX and then pays the " annual '' bill in XXXX, providing 6 months to accumulate and account for any shortage that is needed for a 12 month calculation. Today I spoke to the servicer at length and realizing all this the escrow person I spoke to said my account had been flagged for a refinance offer.
I asked if this is there business model, to create a negative escrow so people are perpetually in the negative to offer them the ability to refinance their loan, with the serivcer? I thought the purpose of forbearance was to help keep people in their homes not get them foreclosed on for escrow. I have serious questions regarding if my servicer has applied the partial claim correctly, and if they did why would escrow be short? Why would interest and principal get the greater payment instead of escrow? There is a XXXX mortgage on my house due to the partial claim, @ 0 % for the {$17000.00} so why did they pay themselves now, applying the payments to principal and interest the very least to escrow, and when I sell my house or refinance they get paid again? This does not seem correct to me. I have spent countless hours on the phone multiple emails have been sent through secure portal and I am not sure this has been handled correctly. Can you provide any insight as to what the process should be? Can the servicer allow pre-existing debt when the partial claim should have satisfied it?
Pennymac is the servicer. My payment was XXXX according to them on XXXX it is supposed to go to XXXX which included the additional escrow and a shortage fee and a reserve fee. Not sure it those fees were to bring the shortage current or if they were fees, the servicer keeps. Something very similar is being experienced by another person I know whose servicer is Pennymac as well, and who also was in forbearance. I would greatly appreciate insight and answers regarding the partial claim, and the Covid Mortgage Servicer Final Rule.
Kind Regards, XXXX XXXX
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| 11/25/2021 |
Yes |
- Debt collection
- I do not know
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- Attempts to collect debt not owed
- Debt is not yours
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Web |
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Complaint against PennyMac and XXXX XXXX XXXX XXXX and demand for verification of identity and employment of XXXX XXXX as PennyMac 's Priority Complaint Specialist Dear CFPB, Please find my complaint and demand to verify identity of robo-signer XXXX XXXX and his employment with PennyMac Loan Services as Priority Complaint Specialist, and for how long XXXX XXXX is employed by PennyMac, in which positions.
Please provide name and contact information for XXXX XXXX direct supervisor and the name and contact information for PennyMacs Human Resources employee who personally knows XXXX XXXX and who can personally verify XXXX identify.
Please verify XXXX XXXX office address where I can meet XXXX XXXX and his direct supervisor in person to discuss my questions regarding PennyMacs authority to collect from me and who authorized PennyMac to collect from me.
Please state when I can meet XXXX XXXX, his supervisor and the authorized representative of my alleged " creditor '' to discuss my options such as possible modification or other options to proceed with my payments to my legit creditor ( if any ) As of today I dont know who is my creditor and whom I have to make my payments ( currently I deposit my payments into interest bearing account and will be gladly to send them to my legitimated Creditor who can provide me proof how they obtained rights to collect from me, as required by UCC Article 9.203. - such as proof of payment for my alleged loan, ( copy of wire transfer, cancelled check, ACH ) ; who was the Seller of my loan ; and the copy of the accounting ledger which can show disbursement of payment for my loan by my alleged creditor ; where my checks are deposited ; and from which payments to Investors were made.
From XX/XX/XXXX to present time someone who uses electronic signature XXXX XXXX sends me numerous letters full of absurd and contradicting lies from various cities and states across the Country.
I have a reasonable doubt that XXXX XXXX is a collective name for a group of people who do not send me these letters since they are prepared and mailed to me by someone else.
For example, in most recent letter on XX/XX/XXXX robo-signer XXXX XXXX avoided answers to any of my questions regarding identity of my creditor ; who authorized PennyMac to approve my forbearance and how this creditor obtained rights to collect from me any money.
XXXX further lied that I denied modification because I asked for proof of PennyMac 's authority to offer me any modifications or discuss with me any other options. I spoke with XXXX XXXX who provided me information about ownership of my alleged obligation which is completely different that " XXXX XXXX " said.
As of today I do not know who is the owner of my alleged " debt '' and has authority to collect my money or offer me any modifications. I do not have any proof of such authority as well as absolutely no proof of PennyMac 's authority to collect from me any money.
According to robo-signer XXXX XXXX the owner of my alleged debt is PennyMac. When I ask " XXXX '' how PennyMac became the owner and who sold PennyMac my loan, " XXXX '' either lie or refuse to answer.
According to XXXX XXXX, the person which whom I spoke on the phone, the owner is XXXX XXXX.
According to XXXX XXXX FOIA officer XXXXXXXX XXXX letter on XX/XX/XXXX XXXX XXXX does not have records of any of my transactions, starting from XXXX XXXX.
According to robo-signer " XXXX '' PennyMac collects my payments to give them to XXXX XXXX XXXX XXXX as Trustee for XXXX XXXX XXXX XXXX
According to my cancelled checks, my payments are collected by XXXX XXXX XXXX or their branch XXXX XXXX and deposited with XXXX XXXX XXXX account whose owner is unknown to me. Here is no indicate if any of my checks were collected or deposited by PennyMac or who received my money.
According to robo-signer XXXX XXXX XXXX PennyMac is the Issuer of securities backed by my loan which is pooled in XXXX XXXX XXXX where XXXX XXXX XXXX XXXX is a Trustee.
According to PennyMac Chief Financial Office XXXX XXXX letter to Securities and Exchange Committee, PennyMac is NOT authorized as an Issuer for XXXX XXXX.
In other words, numerous real people such as XXXX XXXX, HUD 's officer XXXX and PennyMac 's CFO XXXX XXXX proved that robo-signer " XXXX XXXX XXXX is a liar.
Please order XXXX XXXX to confirm that he/she personally prepared and signed letter of XX/XX/XXXX.
Please state city and State from which this letter was mailed.
Please state the name, office address, phone number and email for an authorized person who instructed XXXX XXXX to prepare and mail XX/XX/XXXX letter to me.
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| 02/28/2020 |
Yes |
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- Trouble during payment process
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Web |
Servicemember |
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I am a XXXX military combat veteran whom currently has an VA refinance mortgage loan in good standing that I re-financed, going from XXXX XXXX to Veterans United Home Loan Services, whom then, immediately sold my mortgage loan to PennyMac Loan Services , LLC . Despite my patiently waiting for several months thus far in XXXX, PennyMac Loan Services , LLC 's accounting department still has never properly reapplied my previously twice misapplied by them XXXX to XX/XX/XXXX three months of requested Bi-weekly auto-paid Monthly Mortgage Payments. Additionally, nor has their accounting department properly reapplied my ( 3 ) additional XX/XX/XXXX {$300.00} Principal Reduction Only payments, my ( 2 ) additional XX/XX/XXXX {$300.00} Principal Reduction Only payments, and, my ( 2 ) additional XX/XX/XXXX {$300.00} Principal Reduction Only payments. On XXXX, XXXX, PennyMac Loan Services , LLC issued me an incorrectly computed Corrected XXXX XXXX Mortgage Interest Statement from their XXXX XXXX, California based accounting department falsely stating that I paid {$0.00} mortgage loan interest in XXXX. That is simply not true. I definitely can't and won't utilize XXXX 's incorrect XXXX generated " Corrected '' 1098 Mortgage Interest Statement for my tax filing to the IRS and my state Revenue department. I have repeatedly provided this mortgage loan company concise instructions on applying my Monthly Mortgage Payment in a bi-weekly manner. I have repeatedly provided this mortgage loan company concise instructions 'how ' to apply my previously paid them additional Principal Reduction Payments of {$300.00} each. I have no idea how to help XXXX do its job correctly. Whatever I have asked of PennyMac, whatever I have advised to them when asked ... does not seem to help XXXX 's accounting department to properly service my VA refinance mortgage loan. Immediately after I was situationally forced to file XXXX XXXX XXXX Complaint # XXXX on XXXX, XXXX, PennyMac hired a Connecticut-based lawfirm, XXXX XXXX XXXX, to attempt an illegal foreclosure of my property 's in good standing mortgage loan for which I factually was multiple thousands of dollars ahead in payments on. On XXXX, PennyMac charged me a {$15.00} Property Inspection Fee for an inspection that never should have been requested by them. Their hired firm, XXXX XXXX XXXX, contacted the Rhode Island Housing to ask me to come to mediation with PennyMac for which this RI Housing would be deciding whether to grant PennyMac 's desired foreclosure certificate. I found this out when RI Housing sent me a XXXX, XXXX letter requesting my contact them to attend such. On XXXX, XXXX, when I called PennyMac ( spoke to XXXX in Collections, about XXXX XXXX ), he said PennyMac would send me a letter affirming my mortgage loan is in good standing, but they never sent me one. On XXXX, XXXX, after I explained ( via e-mail ) the actual financial facts of my PennyMac mortgage loan being in good standing to PennyMac 's hired lawfirm, XXXX XXXX XXXX, backed off, acknowledging my mortgage loan being in good standing via e-mails they sent me. But the initimidating bullying of me harm by PennyMac was done. Since resolving this illegal PennyMac foreclosure attempt, their company still continues its troubling accounting practices in 'how ' it is choosing to service my VA refinance mortgage loan. PennyMac 's accounting department still has not corrected their twice prior misappIied XXXX payments that I paid them in good faith. Despite PennyMac repeatedly being advised as such, on XXXX, XXXX, they incidentally forced me to re-request the starting on my bi-weekly Monthly Mortgage Payments. Because they refuse to properly process my ( 2 ) separate additional monthly Principal Reduction Only payments every two weeks, I now have to manually enter them each month so that they get applied correctly for XXXX, which is a major inconvenience to me. I respectfully request the federal government, Consumer Financial Protection Buteau, to please now help me with intervention initiated in my behalf. I desperately need your help in getting, PennyMac Loan Services , LLC, to finally fix my unresolved misapplied XXXX bi-weekly Monthly Mortgage Loan payments. After PennyMac finally does this, I need them to please correctly reapply my also paid them XXXX additional Principal Reduction Only payments. Lastly, I need PennyMac to please generate a new financially and factually accurate Corrected XXXX XXXX Mortgage Interest Statement for me, so I can properly and accurately amend my XXXX tax filing. Please help me, thank you!
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| 01/28/2021 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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In XX/XX/XXXX when the COVID-19 pandemic hit I reached out to Penny Mac for assistance ( forbearance ) for my mortgage loan payments since my wife who works for a doctor 's office hours were cut in half or more than half. She attempted to file for unemployment benefits however couldn't get through to the TWC ( Texas Workforce Commission ). They were overwhelmed with unemployment fillings. We also knew that the assistance that the gov't was offering was going to be delayed since they did not have our banking information in their system.
I was advised, offered and approved for 90 days of forbearance assistance ( XXXX, XXXX & XXXX XXXX. Note : I have never been late on a mortgage payment since the inception of the loan. I was advised that if I could afford my escrow payments ( {$970.00} ) per month to make those payments so I wasn't playing catch up on amount owed come tax time. We were told they would be held in suspense until after the forbearance had concluded and would be applied according once the loan returned to normal. My normal monthly installment was {$1600.00} so if I was making my escrow account payment I was only missing the principle payment of {$710.00}.
My wife finally received her unemployment benefits and we also received our stimulus check so we resumed our payments in full dated XXXX. Obviously we didn't need the additional forbearance payment for XXXX since our finances had returned to normal.
When I logged into my account in XXXX to review the ledger of my account I noticed that the escrow payments weren't be applied properly so I called Penny Mac to find out what was going on. I was told that I was in default on my loan payments and due for my XXXX payment. I advised multiple reps after being transfers several times that none of this is correct. What are they doing with the payments that I've been making, where and why are they being applied as they are and why did my escrow analysis show a shortage increasing my payment to {$1700.00}. It made no since since I had paid the penalty the latter part of XXXX to catch up the shortage and decrease my payment. No one, and I mean no one could give me an answer to why the payments were being applied as they were and why I was considered late on my payments when I was protected under the forbearance and the Cares Act.
After 8 calls to Penny Mac without a consistent answer from anyone including " The LOSS MITIGATION '' department I decided that I wanted to refinance my loan. One of the requirement of refinancing with XX/XX/XXXX was that I had to make three consecutive payments to be considered or qualified for the refinance so I made my XXXX and XXXX payments.
XXXX XXXX requested 20 day payoff on the loan which was over {$6000.00} more than the balance owed on the account. So I called Penny Mac again to find out where they're coming up with this payoff amount. I was told that the two payments totaling over {$2400.00} principle and interest were being added to the balance of my loan. I asked how that was even possible being that I had paid my escrow ( taxes and insurance ) for the two months that I was under the forbearance. I asked how that's even legal, a forbearance extends out the maturity date of the loan, you can't just added to the balance of my loan it's against the law that the terms of my loan is being changed without and updated loan documents. At this point I'm furious because this is holding up my refinance and costing me money. I was told that the two payments that I missed while under the forbearance would be made up as a balloon payment on the maturity date of my loan. Now they're telling me they're adding over {$2400.00} to the balance of my loan. This is an illegal practice and against state and federal lending practices.
I've added the last Penny Mac ledger that I had access to. Since they received over $ XXXX in payoff amount my online access to the account has been shut down although it's showing activity of a payment being made date XXXX. Now how can that be. As far as I know my loan balance at the time of payoff should have been {$130000.00}.
I'm extremely troubled by this situation and can't seem to find anyone who is willing to straighten all of this out. I've turned all of the documentation over to our family CPA to attempt to figure this out. I just don't have any access to updated information so I'm currently at a standstill. My biggest concern is that I have no documentation or communications from Penny Mac regarding and of the documentation surrounding the forbearance.
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| 01/18/2022 |
Yes |
- Mortgage
- Other type of mortgage
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Web |
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This is the review of the last 4 months of a refinance that should have taken 30-45 days. The XXXX of this rollercoaster ride was terrible. I hope you take my honest and candid review into consideration of how your customers feel.
I am happy that this review was requested. I have owned 2 homes ( both financed ) and this is my first refinance. This has been by far the worst experience I have ever encountered when dealing with a lender.
I was contacted by XXXX XXXX XXXX XXXX XXXX ( NMLS XXXX ) and I hate to be punny but he was a true XXXX XXXX XXXX XXXX XXXX XXXX to work with. I truly hope after I write this review, PennyMac does an Audit of his client interactions.
When we first spoke, I told XXXX I wanted a cash out Refinance to pay off a XXXX XXXX loan and to put it into the refinance. I also advised I did not want to pay closing costs ( Roll them into the loan ). He understood my requirements and we proceeded forward.
Hiccup # 1. XXXX did not properly originate my loan and did a cash out refi that did not pay the loan off directly. He did the quick option to have me be the payee of the funds and I would oversee paying the solar loan off separately. When the Title company conducted a LIEN search, my loan was flagged and then delayed to close until XXXX updated the documents to the correct Format. Due to this being his delay, I would assume some sort of communication. He did not keep me updated and I waited two weeks for an update. I had to call repeatedly for him to call me back. Due to this the loan became delayed.
Hiccup # 2. A closing disclosure was released and it was {$100.00} more for my MIP then I was comfortable with and I told him I did not want to move forward. XXXX reached out to me and told me he could request a manager override to keep the MIP closer to what I wanted. We agreed, and I waited for a new CD. The new CD came and it showed an even higher MIP AND NOW they wanted cash out of pocket for closing costs. I told VANE I did not want to waste his or my time any more and I would not be moving forward. At this time we are now delayed a second time. XXXX reached out again and told me that he could drop the MIP and he would get manager approval to pay the closing costs If there were any. I got a third CD and again there was {$1500.00} closing cost fee. TOTAL SWITCH AND BAIT. Please read read read your CD because XXXX will say one thing on the phone then another on the updated paperwork. Thankfully because I didnt trust his word or integrity, I then requested any promises/ what he could do to be written out on an email. When there was closing costs at the end, I referred to the email from XXXX and everything was covered finally.
Hiccup # 3 My loan was delayed 3 times and an extension was required due to the issues that kept arising. I believe this could have been closed a lot sooner if XXXX called back promptly. It was sometimes days ( 3-5 ) before VANE would reach back out even though we were just delayed or if the XXXX was needing correcting. After such hassle, I went full XXXX and requested to speak to XXXX XXXX XXXX. I Requested a total of 3 times for him to reach out. I have yet been contacted by XXXX. I am shocked by the total lack of customer service/support during such a large transaction and after so many delays/issues.
Hiccup # 4 We finally got to closing day and shocker. 8 pages in my closing were inaccurate with wrong numbers and would change the loan drastically. If I wasnt vigilant with how terrible the experience was, I could have easily missed it. It is so scary to think this large of a company had so many LARGE mistakes that a lamest non-financial normal person was able to identify immediately but NO ONE PRIOR saw them.
My word of advice to PennyMac, please look into XXXX XXXX cases I believe he does more bad then good. And is a thorn for your company. I have been a prompt paying customer for years and his antics are not what I expected. Thankfully other experiences outweighed his IDIOCRACY. For potential customers, please dont work with XXXX as he was a major XXXX XXXX XXXX XXXX XXXX XXXX
Lastly, I want to leave my review on a positive note, the ONLY reason I continued to do service with PennyMac and didnt jump ship to a different lender is because of XXXX XXXX XXXX She was prompt, she was on top of things, and she got things done. She made sure she was efficient and should be highlighted as an exemplary employee. She single handedly saved the closing of this loan and I appreciate her working on it.
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| 09/27/2023 |
Yes |
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- Trouble during payment process
- Escrow, taxes, or insurance
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Web |
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On XX/XX/XXXX, my mortgage servicer, PennyMac Loan Services , LLC ( " PM '' ) conducted an escrow analysis on my escrow account and determined that my monthly mortgage payment needed to be increased approximately {$700.00} per month.
After doing some initial research, I realized that in a prior escrow analysis, PM concluded that I had too much money in my escrow account and issued me a check for {$3800.00}. I can't recall ever receiving a check from PM, so I called them and confirmed that the check was never cashed. PM then told me that it would call me within a week once they got this amount credited to my bank account, and at that time I could transfer the money back to my escrow account, and another escrow analysis could take place to determine what my monthly payment would be. I paid my XXXX mortgage payment at the prior amount XXXX $ XXXX, and waited to hear back from PM.
After not receiving a call back from PM, I called them today and spoke with a person named XXXX. XXXX said that PM made two mistakes : 1 ) they miscalculated the amount of school tax ( they were off by approximately {$3500.00}! ) I owed in XXXX which resulted in the prior escrow analysis occurring and the check being issued, and 2 ) my mortgage payment being adjusted lower ( it was previously ~ $ XXXX ) for a lower amount being contributed to my escrow account month to month, which resulted in me having a negative escrow account balance because the amounts being disbursed were not being covered by my monthly payment. XXXX was using two statements detailing these escrow analyses which I've attached here to help explain what happened, and there are so many things about these statements that don't make sense to me- for example, the negative escrow account balances for XX/XX/XXXX- why didn't they conduct an escrow analysis then? XXXX said he would submit a " ticket '' and that they would get back to me within the next 5 business days, where they would review my entire account and provide an explanation, and propose a possible solution. I asked XXXX what I should do about my XXXX mortgage payment which is due in a couple of days, and he told me not to pay it since I have 15 day grace period. I was honest with XXXX that I felt that I was being deceived by PM in some sort of way and asked if this was normal. XXXX assured me that this wasn't normal and he was sorry for the issue on PM 's behalf. I also asked XXXX if I should call my local Tax Collector to ensure I wasn't delinquent on my taxes. XXXX said that probably is not a bad idea, since judging from my tax statements it was difficult to determine if PM actually paid the taxes they were supposed to pay on my behalf.
After I hung up the phone with XXXX I was asked to take a survey on his service. XXXX was actually very great and I could tell he was sympathetic and wanted to help me solve the issue, so I wanted to convey his performance thru the survey. At the end of the survey, I was asked if I wanted to be transferred to a senior representative because I answered in the negative that XXXX didn't help me solve the issue.
I then was on the phone with a PM rep named XXXX, who again attempted to explain what was going on. XXXX was a bit more defensive, and tried to resolve the issue by " figuring out a payment amount that could work for me. '' I told XXXX that I don't think something was right with my account based on the information I was seeing in my account statements and that I truly don't believe that my payment should increase beyond the original mortgage payment amount. XXXX wasn't as helpful as XXXX, although he did provide a Payment History breakdown, which I've attached here.
After looking at the Payment History breakdown, something seems off with my escrow account since the very inception of my mortgage. Right away, PM issued me an Escrow Refund for almost the entire account balance of my Escrow Balance, and gave me an Escrow Advance, putting me in the hole. I never knew this even took place, and my mortgage payment was never readjusted.
This is as far as I've gotten with trying to resolve the issue and I'm going to continue to try and figure out whats going on - but I am not an accountant and this stuff is like a foreign language to me. Additionally, now I have to contact my local tax collector and determine if I am delinquent on my local taxes.
All I can say is that something does not seem right here and I have lost all my trust in my mortgage servicer.
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| 09/24/2017 |
Yes |
- Mortgage
- Conventional home mortgage
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Web |
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I am a XXXX resident using PennyMac, based in XXXX as a lender to service a mortgage. I chose PennyMac before I left XXXX to move to XXXX, because of the company 's relationship with XXXX, with whom I had prior good mortgage referrals. I very much regret having chosen this company, which has caused several delays in closing, and which nearly cost me a thousand dollars in lost seller 's credit, until my agent gave them instructions on how to do their job. However, these annoyances are not my legal complaint.
On the week before we reserved a date for our house closing, assured by PennyMac ( " PM '' ) that we could close on or beforeXX/XX/XXXX, I asked what specific power of attorney would be needed for my co-signer, my mother who lives out-of-state, to have me sign for her. My agent 's manager, who was covering for the agent who was out for a few days ( without telling me ), checked for a PM power of attorney template. Not finding one, she referred me to my title insurance company. I did this, and immediately forwarded a copy to PM to review and approve. On XX/XX/XXXX, the manager replied that she had forwarded the POA to her underwriter to do so. In the meantime, I sent a copy to my mother who paid to have it notarized and sent next-day to the title company for closing on XX/XX/XXXX The signed copy faxed to title and PM. On XX/XX/XXXX, as my mother was sending the notarized copy, PM contacted me to tell me that the underwriter refused to review the unsigned copy that they had received. After they received it, they would still require 24 hours before they would approve it.
Twenty four hours later, they declined to approve the POA. OnXX/XX/XXXX, they wrote XX/XX/XXXX POA must be fully executed prior to approval. Per Policy Procedure doc XXXX ( XXXX ) : # 1 Please provide a handwritten letter of explanation regardin the reason for the used of the Power of Attorney and relationship between parties.
# 2 The borrower ( s ) must indicate who will physically attend the signing.
My complaint against PM is that this policy is unreasonable on its face, and grossly unreasonable as applied in my particular case.
There is no rational reason for providing a " handwritten letter '' as opposed to any other form of communication, including a signed typed letter. The policy does not specify who is to write the " handwritten letter '' -- the individual seeking the POA, the other Buyer, or some other individual.
When the party seeking the POA lives out-of-state, hundreds of miles away, that is a self-evident reason for seeking a POA.
When the party seeking the POA is already documented in the company 's records as being the mother of the other Buyer, the information demanded is superfluous and should not be a condition of approval.
The POA reviewed designates the other Buyer as the one authorized to sign. Asking who will physically attend the signing serves no rational purpose and is implied on the face of the POA.
Finally, these " surprise '' requirements, as trivial and unexpected as they are, were never shared with me after the POA was discussed with PM representatives and manager, until XX/XX/XXXX. Even had we provided what we believed the underwriter needed ( which as I note is ambiguous ), we were informed that the underwriter needs 24 hours to consider any document before giving approval. Thus, our promised closing date of XX/XX/XXXXhad to be rescheduled again.
I immediately informed PM that we would withdraw the POA, as it had cost us unacceptable delays in closing, and we could not afford further delays while we worked with the underwriter to figure out what exactly they needed to approve the document. We are trying to make moving arrangements, school transfer arrangements, work arrangements, utility transfer and property maintenance arrangements. The money my mother spent on notarizing and sending the document to the title company was wasted, and she was compelled to spend several hundred dollars to fly out to be physically present at the signing.
Please investigate the PM policy, including procedures how it is shared with the public, to determine if it puts an unreasonable burden on the consumer. Consumers at the late stage of the process of closing on a house are in a highly vulnerable position, and the mortgage company has a virtual monopoly over their customer at that point. I believe that PM is negligent in its application of its policies, which are themselves arbitrary and capricious.
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| 01/27/2020 |
Yes |
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- Trouble during payment process
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Web |
Servicemember |
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Late XXXX our mortgage was sold from XXXX to Penny Mac ( PM ). XX/XX/XXXX we received a delinquency notice. We had been paying bi monthly on our mortgage from the beginning with XXXX, come to find out PM didn't apply the 6 payments we've made in XXXX. We called several times, we were able to find a PM agent able to assist us. We applied for bi monthly payment, sending in an additional payment for securing the program. A month later I review the monthly statement. In doing so, I notice in a small note area at the bottom of the statement stating PM doesn't apply the XXXX bi monthly payment to accounts, the money sits in a discretionary fund until the full balance is met. This was never divulged during our prior phone call conversations with PM phone associates. Firstly, as a consumer this is fraud, secondly holding my mandatory extra payment, plus half of another monthly payment is close to economic abuse, depriving me of the lost income from this money, yet potentially gaining that interest holding these funds. The next day I called and escalated the call to PM " escalation department ''. The agent was helpful, apologetic and knowledgeable, unfortunately she was incompetent. She neglected to process the PM 's systemic procedures to remove the program. We were going to apply the extra payment into the next months payment cycle keeping the account current and allowing us to skip a monthly payment. Two months later we get a delinquency notice, the agent errored on the PM process. I called escalating the escalation call to her manager, who apologized and admitted the wrong doing, said he was going to adjust the payments and call for follow up. The call never happen because our account went into delinquency status again. The escalation manager applied the WHOLE payment to principle. Creating a negative balance on our account due to missing interest. On XX/XX/XXXX my wife called to get some answers on this delinquency notice, the agent, XXXX, was rude and defensive, my wife asked for a manager. XXXX the manager read the numerous entries from our nightmare said he was going to call us back with an update on repairing the status of the account. That call never came, he adjusted the account, we received our XXXX statement showing the corrections.
The primary problem with this is my inability to change providers at a minimal cost. Basically I've been kidnapped and now I'm a capture client. I have asked for my account to be processed on the next debt loan sale, but these managers and phone agents don't know that is. We have contemplated refinancing, but the cost will be approximately XXXX in the short term, and no telling in the log term, due to our current low percentage rate. All I want is the power to close my account. move the account to a more customer-centric organization. Penny Mac does not train their phone agents well and the managers seem to be equally incompetent.
MISC Notes : XX/XX/XXXX - did not hear from them but we did get our statement today and it was corrected XX/XX/XXXX - called and spoke with XXXX ; she is going back and reviewing my account to confirm where the missing payment is - she shows that we owe money by XX/XX/XXXX ; the request that XXXX submitted to reapply the funds from XXXX was declined because it was over 90 days on the XXXX, so XXXX is looking into what we can do next ; is going to submit it over to his manager/boss - he will have the account coded so that it will process correctly *Asked for manager - XXXX XXXX he said onXXXX of them - him or XXXX XXXX will reach out to me when they hear from his manager- also named XXXX - as he is out of the office today ; XXXX is hoping that the request will be approved and submitted to fix the XXXX issue and then everything will fall into place and we will no longer be put behind ; he asked for XXXX weeks to get it fixed ** XXXX payments were put towards principle instead of mortgage payment * XXXX confirmed that the late charges will be automatically waived bc payments will be reallocated ; pennymac will not be reporting any negative credit on account * XXXX said that it looks like No one did research in the past to figure out why it was happening, so that is why no one reached out to us or corrected the issue * XXXX extended XXXX grace period for XX/XX/XXXX to the end of XXXX XXXX 's direct callback number - XXXX XXXX * He said that he has put a followup for me on XX/XX/XXXX - will reach out with status
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| 09/22/2022 |
Yes |
- Debt collection
- I do not know
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- Took or threatened to take negative or legal action
- Seized or attempted to seize your property
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Web |
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Complaint and Demand for updated PayOff Statement, with full name of my Creditor, its full mailing address ( not po box ) and signed by the authorized Agent of my creditor. Demand for a copy of my Promissory Note, with full chain of assignments and proof of payment for each transfer ( wire, ACH, Cancelled Check ). Demand to disclose physical location of my original Promissory Note and time and place where I can inspect my ORIGINAL Note in presence of the custodian of my Note. Demand to set up time and place where I can personally deliver my money to an authorized officer of my alleged " creditor '' after I receive a copy of my Note and inspect my original Note with custodian.
On XX/XX/2022 I submitted an another attempt to find my alleged " Creditor '' who owns my " loan '' ; and to make my payment- but only if an officer of any business entity warrants ownership of an unpaid loan account due from me and acknowledges the agency of the designated servicer to administer, collect and enforce said account.
I never received any respond from any officers of my Creditor ; and no warranties of ownership, or acknowledgement of any Agency.
Instead I received the same computer-generated absurd runaround " from " XXXX '' and an unsigned " PayOff Statement '' dated XX/XX/2022 - mailed to me by XXXX, XXXX XXXX their XXXX XXXX XXXX Nevada 's office. The letter also stated that if I pay my loan in full XXXX will process and submit the lien release to the county recorders office. Again, here is absolutely no references WHO will provide me a lien release.
This " PayOff '' is legally invalid since it lacks any references to my alleged " Creditor '' and not signed by any authorized officer of this " Creditor ''.
As of today, my Creditor did not identify itself and I don't know who demands from me money and why.
The " payoff '' is always the same, unsigned and without any references to my Creditor.
It is always coming from XXXX. On XX/XX/2022 it was sent to me twice ( 2 times, on the same day! ), one from LA, another from XXXX XXXX where XXXX has no offices, as they told to Securities and Exchange committee.
XXXX XXXX XXXX admitted they are a Servicer who prints and sends me " billing statements '' and correspondence on XXXX 's letterheads.
Another Servicer - XXXX XXXX XXXX XXXX- was confirmed as collector and processor of my payments for unknown to me parties.
Another Servicer - XXXX XXXX XXXX- also confirmed its involvement and a paying agent for local tax assessor..
The only one company who does absolutely nothing is XXXX whose name is used on the letterheads by at least a dozen of various XXXX companies, all defined as Servicers by CFPB.
My Promissory Note with full chain of endorsements and evidence of payments of money via wire transfer, or ACH, or Cashier 's check- is still missing from all records and never provided to me by " XXXX '' or anyone else, despite numerous demands. I don't know who is a custodian of my ORIGINAL Promissory Note and where it is physically located, it is another mystery to me.
I offered to deliver my full payment in person to an authorized officer of my Creditor, but only after I receive a warranty of ownership of an unpaid loan account due from me and acknowledges the agency of the designated servicer to administer, collect and enforce said account ; and review my original promissory Note with its custodian.
Zero respond.
The " new '' payoff statement does not even mention the name of the Company who claims to be my Creditor, no need to say any names of individual officers who is responsible for preparing this payoff statement. In fact, its the same fatally defective unsigned piece of paper, just with a different date, printed and mailed to me by XXXX XXXX XXXX from XXXX XXXX, NE Nobody confirmed XXXX 's ownership of the account with XXXX XXXX where I suppose to wire my money, over $ XXXX ; or even authority to use this account while XXXX XXXX the alleged " lender '' to my property Seller still can not find my $ XXXX " loan from " XXXX '' ( because here was no loans from XXXX ). Now. XXXX XXXX suddenly replaced XXXX XXXX XXXX as " banking institution '' for unknown to me creditor for whom XXXX process my payments The payoff must be updated, included the name of the Creditor and its full business address ( not po box ) ; and wet-ink signed by an authorized officer of alleged " creditor.
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| 04/24/2018 |
Yes |
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- Trouble during payment process
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Web |
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We have been having a 7 month issue with XXXX XXXX XXXX XXXX where we had damage done to our house by hurricane Matthew in XXXX. Our insurance company finally came to a settlement on XX/XX/XXXX on the damage to the home and informed us they will be sending a check for {$32000.00} for that damage. {$17000.00} of those funds were in a form a check made out to XXXX XXXX ( my wife ), XXXX XXXX XXXX XXXX, and myself.
We called PennyMac on XX/XX/XXXX informing them they work had been completed and that we had a settlement check on the way. We requested an inspection to show the work was completed so when the check came it would simply be endorsed by the bank and the funds released to us. PennyMac declined to do send anyone to do the inspection because we had not received the check yet.
We called in again on XX/XX/XXXX to again request that an inspection be done on the home before Hurricane Irma hit us. Once again this was denied by PennyMac stating because we had not received the check to date we would not be able to get an inspector out to the home. We stressed the severe importance of getting an inspector to the home since we just got done repairing the house and we were, justifiably, concerned that hurricane Irma would damage the work we had completed to date.
PennyMac refused to send anyone to the home to do any inspections. We received severe damage from Hurricane Irma. Broken windows caused rainwater intrusion throughout the entire home and damaged all the work we had done to date on the home. After the hurricane we received the {$17000.00} check from Pennymac. We contacted PennyMac to confirm that they would be endorsing the check and returning it to us. We were promised by 3 different representatives that the check would be endorsed and returned to us for deposit. We were instructed to sign the check and send it to them with an overnight return envelope enclosed. This would mean for a fast turn around of the funds.
We did as instructed and Pennymac deposited the funds into an escrow account and has refused to release any funds until the repairs to the house were completed or at least 50 % complete. The damage due to Hurricane Matthew was contained to roughly {$78000.00} in damages that we had already repaired. The damage due to Hurricane Irma is extimated to be {$370000.00} in damages by the time everything is completed. The amount of damage is far higher then what we had already repaired and paid for.
PennyMac did disperse a check in the amount of {$3900.00} on XX/XX/XXXX for a replacement refrigerator and a wheelchair ramp for my son. It took 3 constant months of brow beating and repeated phone calls to get them to release the funds. We went 3 months without a proper working refrigerator. We had to constantly fight PennyMac to disperse funds to make repairs in the time when we were at our most vulnerable, recovering from Hurricane Irma.
On XX/XX/XXXX we had work completed on the bathroom that was damaged in both storms. We submitted the paperwork showing that the work was complete and paid for in full on XX/XX/XXXX. We did not hear anything back from Pennymac for the disbursement amount of {$1900.00}. We called in on XX/XX/XXXX and spoke with the supervisor XXXX. We resubmitted the picture of the completed work and the paid in full invoice. We were instructed by XXXX he would be putting into have the amount dispersed and to call back Tuesday XX/XX/XXXX. I called in today and to inquire about the check and was informed instead of sending out a check for the full {$1900.00} that Pennymac would be dispersing a check for only {$380.00}. Per the representative on the phone XXXX that was the most they are willing to disperse due to the 25 % initial prefunding they do on a claim. This is not for pre-funding but reimbursing for work that has been complete.
Again we are being forced to wait for money that we have already paid to have the house repaired. Also we have damage done to Hurricane Irma that is not being repaired by our current insurance company XXXX XXXX XXXX XXXX. Since XXXX XXXX XXXX has decided to sue us instead of paying for damages or completing work due to hurricane Irma that leaves us only with the funds available through the money held in escrow by PennyMac. Since they are not giving us the funds PennyMac is now causing continued damage to our home.
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| 02/09/2023 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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A creditor that fails to comply with the requirements outlined in the Fair Credit Billing Act forfeits any right to collect from the obligor. This is not a refusal to pay but a notice that this alleged debt has been under dispute since XX/XX/2022 when I sent a Good Faith Discovery Notice : Verification of Proof of Claim Requested letter received usps certified mail with return receipt, in return I got a letter with copies of the note which is violating the Truth in Lending Act pursuant to 15 USC 1601-1667j. I stated Under US Code TITLE 15 > CHAPTER 41 > SUBCHAPTER V > 1692g part b ), this debt is now officially in dispute. This is still not resolved to this day but the alleged creditor is reporting now to my credit. By law, all collection activities must cease until this matter is resolved. This alleged creditor is blatantly disregarding this law and is now under administrative default and is subject to fines by the FTC. I sent another letter XX/XX/2022, request for admissions in which I received the same copies of everything. Pennymac then filed a fraudulent assignment of mortgage with the county the property resides in XX/XX/2022 while this dispute is still open. A copy of the security instrument is not a sufficient proof of claim as per U.C.C. - ARTICLE 3 -3-501 ( b ) 2 ( 1 ). Under this code, I am entitled to have the instrument presented to me as you are required to upkeep the legal document entrusted to you in which you denied me to see unless I traveled across country to California when I live in Florida. You are furnishing fraudulent paperwork, you do not have the note! The deed of trust is NULL AND VOILDED FOR FRAUD. XXXX does not own this property, Pennymac does not own this property, I do and I have and always have held security interest in this property backed by my UCC1 financing statement filed in XXXX XXXX XXXX placing a lien on the property for {$300000.00}. Pennymac loans is violating federal laws by knowingly furnishing false credit information and under USC Title 18 Chapter 25, you are engaging in counterfeiting and such behavior is a felony. Providing a photocopy of a security instrument is not only unconscionable but is illegal.. It is impossible to be late on an extension of credit. No law under the Fair Credit Reporting Act requires your financial institution to report negative information to a consumer reporting agency. I do not consent to the furnishing of any negative information to any nonaffiliated third party. Furnishing this false credit information is a violation of federal law and a violation of my right to privacy. The Right to Privacy was declared a fundamental right by the Supreme Court in Puttaswamy v. Union of India. XXXX Furnishing false credit information to a nonaffiliated third party as a means of coercing payment on an extension of credit constitutes racketeering activity. Furnishing late payments is your institutions policy. Your companys policy does not supersede federal law. In accordance with the fair credit reporting act Pennymac Loan Services Account XXXX XXXX has violated my rights. 15 USC 1681 Section 602 states i have the right to privacy. 15 USC 1681 Section 604 A section 2 : It also states a consumer reporting agency can not furnish an account without my written instructions. 15 USC 1681a Definitions ; rules of construction- Exclusions- except as provided in paragraph the term " consumer report '' does not include any report containing information solely as to transactions or experiences between the consumer and the person making the report ; 15 UCS 1666B : A creditor may not treat a payment on credit card account under an open-end consumer credit plan as late for purpose. I am demanding that all late payments and the entire account is UPDATED to PAID AS AGREED and a DELETION of each late payment be submitted to the credit reporting agencies immediately to prevent my consumer credit reputation from receiving further harm. I am also demanding compensation for these fraudulent and berating acts against me and my character or my next step is legal action. I am keeping a careful record of all correspondence or lack thereof made via mail, and other means of communication. Your response must be provided within the allotted threshold for this communication. You may only contact me via mail.
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| 08/06/2019 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
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- Problem with a credit reporting company's investigation into an existing problem
- Problem with personal statement of dispute
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Web |
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I was laid off in XXXX, XXXX from XXXX. I had tried to find employment since we were notified in XXXX, XXXX but being unsuccessful I contacted PennyMac mortgage XX/XX/XXXX at XXXX pm because I was really nervous because at this time I had exhausted all of my savings and used most of my XXXX to make it through the layoff period since unemployment did not provide sufficient income to pay all of my obligations. I had the funds to make it through XXXX but was getting concerned and I was trying to be proactive in case I did not obtain employment before I had exhausted all of my resources. I called them and advised them of the situation since I had not yet gained employment. Never was I advised that I could not continue to make my payments as I always had which was online.. I talked to them again on XXXX and again on XXXX because my required information to them was not sending and I kept receiving error messages and again was never advised any issues about me making my payment. On XXXX I tried to make my normal online payment and after numerous attempts it would not let me submit my payment. I emailed them and have attached a copy of the email attempts to request help so I could make my payment. I contacted them on XXXX via phone at XXXX and was advised that no one but the person who was assigned my case could take my payment and they were closed until Monday. I was livid, I was trying to do the right thing and pay them but even the regular customer service number that I reached was blocked from taking my payment. I kept trying to make my payment and tried to reach someone who could take my payment on XXXX twice during the day, XXXX, XXXX two failed attempts, XXXX two failed attempts, XXXX all with no success because I was not able to find anyone who could take my payment. By this time I had gained employment again with XXXX. I just wanted my payment to be taken since never in my life had I been late on any payment let alone my mortgage payment, so I was frantic to say the least and was forced to take time off from my job on XX/XX/XXXX in my new position to be able to reach someone during their open hours just so I could make my payment. My new job hours were XXXX and by the time I got home they were closed and after spending my lunch periods for several days trying to reach someone which had failed because I was on hold too long and had to hang up since my lunch period was over. I finally reached my " caseworker '' and made both my XXXX and my XXXX payment. When I told him what had happened he replied that he had saw my numerous attempts to pay my mortgage and would take care of it. I even asked about the late fee because I had incurred it due to not being able to make my payment on the XXXX of XXXX. He assured me that he would take care of it and advised me because I was seeking assistance that my account was blocked from taking payments. I advised him that I was trying to be proactive in case I hadn't found employment but to remove me from this immediately. He told me that he would remove me and since then I have been able to make my payments online as I normally have. I did have to file bankruptcy after a nasty divorce in XXXX and was told I had to not make my mortgage payment during this process and this is the only time I did so, and I fought it all the way because at that time my credit score was over 820. I completed that and vowed to never again be put through that and never have missed any payments other than that once time and was forced to do so because of that. It killed me! Now to try and do the right thing and make my payments and try to be proactive before I was in trouble and to block someone from being able to make their payments is absurd. This is not right by any means then to be assured it was taken care of and to not only report me being late after NUMEROUS attempts to pay it before it would have been late and also tacking on a late fee is unjust and violates my rights as a consumer on so many levels. I will not step down when I have phone records and emails detailing my failed attempts to make my payment. I filed complaints with all 3 credit reporting agencies and they still disagree and refused to correct the reporting. I was only late because they would not allow me to make my payment! This is not right on any level!
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| 11/23/2022 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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In XX/XX/XXXX, I closed he mortgage with XXXX XXXX XXXX XXXX. In XX/XX/XXXX, XXXX XXXX XXXX XXXX sold the mortgage to PennyMac. In XXXX, PennyMac did not pay on time City Taxes ; supposedly they were not informed that the property owned County & City Taxes. After them requesting and I submitting documentation that they should have, they paid the taxes. There were additional issues with trying to submit monthly payments, but they were resolved.
In XX/XX/XXXX, I requested the elimination of the Private Mortgage Insurance ( PMI ). PennyMac did not want to eliminate the PMI because of the original valuation of the property, when I was requesting an updated valuation given significant changes to the property. After several calls and discussions with different PennyMac Representatives, I was informed that if I pay {$150.00} for a brokered valuation and the brokered valuation came above the original value, the {$150.00} was going to be applied to the monthly payment. While the valuation was completed, resulting in a higher value and the elimination of the PMI, the {$150.00} was never applied to the monthly payment, and it took forever to complete such elimination. PennyMack also changed the escrow payment, when that was not requested.
On XX/XX/XXXX, I received a letter from PennyMac stating that they will be paying a New Homeowners insurance vendor at their discretion, since Ive not submitted evidence of the home insurance policy. On that same day, I wrote PennyMac 2 messages via the Message Center, asking clarification if the information in their webpage ( my account ) for my Homeowners insurance was Accurate. I provided a printscreen or screenshot of the information on the PennyMac website. I also called PennyMac, and I inquired about how come PennyMac has not paid my insurance if the information is accurate in the system and it remains the same.
The Representative stated that PennyMac did not receive any bill from the insurance company. I asked about how come PennyMac did not receive the bill if the 2021 year the bill was paid by them, and the insurance remain the same ( the escrow account reflects such action ). The Representative stated that they dont contact the insurance company given insurance company could be change by the customer, and requested me to complete tasks that they could/should have completed. I was puzzled by the responses since the XX/XX/XXXX letter stated that PennyMac will contact and select an insurance policy on my behalf that I will need to pay not matter what. On that call/conversation, I stated that I did not want any insurance from any other company.
On XX/XX/XXXX, I contacted the insurance company and the Agent, who communicated that PennyMac and/or XXXX XXXX XXXX XXXX should have contacted them to update the Lien Holder or Mortgagee in the policy in XXXX when the loan was sold. The insurance company and the Agent did not understand why either party did not contact them, and assure that the situation was going to be resolved.
Since on XX/XX/XXXX, I was informed that PennyMac should have contacted the insurance company to verify the status or request a voice authorization, I wrote another message on XX/XX/XXXX requesting PennyMac to please contact the Insurance Agent ( just in case ). On XX/XX/XXXX ( today ), I received a response from PennyMac providing me the information ( insurance department phone, address, and fax ) that I already had instead of contacting my insurance the Agent, as I requested. On that same day, I also noted that in my account is no longer reflecting the information of my homeowners insurance.
PennyMac has been committing mistakes or avoid taking responsibility, affecting the payments in my escrow account/mortgage as well as eliminating the peace of mind of maintaining a reasonable monthly payment for actions they have not completed. As a recognized mortgage servicing company, their processes and controls as well as customer service should be up to par with their operations. It appears that PennyMac does not have the appropriate internal controls/systems to complete the required functions, affecting the customers mortgage payments. I would appreciate that somebody investigate their practices thus customers like me are no longer affected by malpractices from this entity.
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| 09/12/2020 |
Yes |
- Mortgage
- Conventional home mortgage
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Web |
Servicemember |
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We contacted PennyMac on XX/XX/2020 to begin the refinance process. Our current mortgage is a VA loan, held by PennyMac, refinancing to a conventional, no cash out loan. The original loan officer ( XXXX XXXX ) was very friendly and helpful, and we were able to get the bulk of the paperwork submitted and signed by the end of the first day, and within a couple days we had submitted all of the initial documents that were requested. We received a couple emails with additional documents requested over the next couple weeks, which were submitted within a day or two of the requests. Sometime early to mid XXXX I received an email from a loan processing agent ( XXXX ) who informed me they had everything they needed from us and that things were progressing as expected. Our expected closing date was XXXX XXXX, and XXXX expressed hope that we may even be able to close a few days early ( though certainly was not guaranteed ). About a week or so later ( XXXX XXXX ) I received a voicemail from a XXXX saying, once again, that they had everything they needed from us and that things were moving along as scheduled. Literally three minutes later I received another voicemail from XXXX stating that she was mistaken, and that they were still waiting on the documents they requested from us, but didn't say what those documents were, or when they were requested. At this point my wife and I began trying to find out what, exactly, was going on ; why the conflicting information ; and what was needed from us. We made phone calls, left voicemails, and sent emails, but received no communication from anyone. About a week and a half later, still having received no communication ( I even emailed XXXX, hoping to get some sort of reply ), I was finally able to speak with someone at corporate sales, who tried to get me in touch with someone at corporate that could help me. After two unsuccessful tries she patched me through to a voicemail, telling me to leave a message, as that department was required to listen to and return all messages. To this day no one from that department has ever returned my call, but later that day XXXX called me. I expressed my frustration at the lack of communication, and that I had contacted corporate, at which point XXXX became very combative and rude. We finally got everything ironed out - I seem to recall being told no additional documents were needed, but they may have been, and they would have been provided. Shortly after, we received an email from our solar company which caused some concern, so we again tried contacting XXXX to find out if that was going to be an issue. After several days of trying to get in touch with XXXX, I finally contacted the PennyMac XXXX page on XXXX XXXX. Within a couple of hours I received a reply, at which point I explained our frustration at the lack of communication from our loan processing team. Over the next few days I was repeatedly assured someone would be getting in touch with us, but no one tried to contact us until XXXX XXXX. After finally speaking with someone ( I believe it was XXXX ), I was assured they had everything they needed from us, they were just busy because of increased business, so our NEW closing date was XXXX XXXX. Either that afternoon or the next day we received another email saying they needed more documents ( the email literally said " paystubs, prior, '' which just added confusion ), conflicting with what we had just been told. I again contacted the XXXX page who eventually got a XXXX to call, who explained that they needed more paystubs, because the previously submitted paystubs were now outdated. Finally, on either the XXXX or XXXX of XXXX I called, since we had AGAIN passed our closing date. XXXX told me the documents had been received, but not reviewed yet, and that as soon as they were reviewed by the underwriters it would go into final approval and he would let us know. On XXXX XXXX XXXX called to say it had gone to final approval, and that we should be getting our disclosures any day now. It is now XXXX XXXX on XXXX XXXX, and we still have not received any disclosures, and STILL have not closed on a refinance application started in XXXX, that was supposed to be completed on XXXX XXXX, and then pushed back to XXXX XXXX, for a loan already held by PennyMac.
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| 10/15/2020 |
Yes |
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- Trouble during payment process
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Web |
Servicemember |
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We purchased a house that was financed through XXXX XXXX Mortgage on XX/XX/XXXX. The loan was sold to PennyMac on XX/XX/XXXX and we continued making payments and had no problems with the mortgage company until now. We initiated a refinancing process with XXXX XXXX and PennyMac was requested to provide XXXX XXXX with loan payoff information. This action resulted in PennyMac 's offer to consider them for the refinancing process. We had learned through XXXX that we did not have windstorm insurance and that in order to proceed with the refinancing process we needed to have windstorm insurance, so we immediately proceeded to purchase the windstorm insurance on XX/XX/XXXX. During the refinancing process with XXXX, we spoke to a representative from PennyMac who was able to lock in a better interest rate and we continued the process and closed with them on XX/XX/XXXX.
During the process of refinancing, we received a letter dated XX/XX/XXXX advising us that windstorm, hurricane, and hail insurance is required on our property and that they were planning on purchasing on our behalf. We provided proof of the insurance on XX/XX/XXXX via electronic mail and thought the matter to have been settled. Another letter was received dated XX/XX/XXXX thanking us for providing evidence of the wind insurance and that they had updated their records to reflect this current information but also mentioned that their records show that there was a lapse in coverage from XX/XX/XXXX to XX/XX/XXXX and that {$5100.00} may be charged to our account for the period of time that the coverage was in force. The letter advised that in order to avoid this charge or have it reversed from our account to provide evidence. I contacted PennyMac on XX/XX/XXXX and advised once again that we did not have wind insurance for the dates requested and that I had contacted the insurance company and was not allowed to purchase backdated insurance and want to know how is the lender able to purchase retroactive insurance and we are not able to. I requested to have a manager contact me to be considered for not having that amount charged to our account since we were never formally advised that the wind insurance was a requirement until the refinancing process. I was requested to allow 24 hours for a manager to contact me and no calls were ever received.
I received a second and final notice from PennyMac dated XX/XX/XXXX requesting proof of insurance again or they will buy insurance to cover the XXXX to XX/XX/XXXX at our expense, which came with the promise of being billed against our escrow account. I contacted PennyMac again on XX/XX/XXXX and explained that we did not have insurance and we were not aware that we needed to have windstorm insurance until XXXX brought it to our attention during the refinancing process and we expeditiously purchased the required insurance. I understand that this demonstrates our willingness to comply with the requirements. I explained that we have been in contact with them before and I am still expecting a manager to return my call. I also advised that I had contacted the XXXX XXXX XXXX XXXX XXXX and the Florida Office of Insurance Commission to initiate formal complaints against a lender imposed insurance that I understand to be frivolous and fraudulent in nature. I also asked for a formal investigation or complaint to be initiated and that their lack of a proper response or resolution will result in us seeking legal counsel.
On the many attempts to have this situation settled, I also contacted the insurance company and tried to purchase insurance for the dates on the letter and was denied. How come a mortgage company purchase backdated insurance and I the consumer can't? We failed to have windstorm insurance on the property and PennyMac is holding us accountable for their negligence and lack of communication. I have tried to speak to a Manager in an attempt to prevent from having them impose the {$5100.00} to our escrow or loan accounts and was told that a complaint will be filed and to allow additional time for a response.
Please assist in having this matter resolved as soon as possible.
Thanking you in advance for your prompt attention to this matter.
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| 05/05/2022 |
Yes |
- Mortgage
- Other type of mortgage
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- Trouble during payment process
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Web |
Older American |
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On XX/XX/XXXX, I received a letter from my mortgage company ( enclosed ) saying that they sold it to a different mortgage company and that the terms of my loan remain the same after being sold. On XX/XX/XXXX, I received a letter from the new mortgage company ( enclosed ) saying they will pay the tax bill upon request. On XX/XX/XXXX, I received a letter from the insurance company notifying me of a renewal premium due notice ( enclosed ). I called them and asked why they were sending it to me rather than the mortgage company. They explained they had sent them a copy also and what they sent me was for my records. The renewal due date was XX/XX/XXXX.
After being out of town for much of XXXX, I returned home and collected my mail. In doing so, I found various letters from the mortgage company ( enclosed ) telling me that I needed XXXX XXXX coverage on my home. this was very confusing to me because I had coverage and didnt understand exactly what they were referring to. I called them and they said they sent insurance company a check. Yet, on XX/XX/XXXX, I received another letter from my mortgage company ( enclosed please excuse the writing on the letter ) telling me that I wasnt covered and needed to get insurance. That is when I called the insurance company and they informed me that my mortgage company didnt pay the premium. I once again called my mortgage company and they told me that they had sent them a check.
All of this was confusing to me because one minuet they said they paid it then the next minute they are sending me letters saying that I dont have coverage. At the end of the day, they flat out lied by not saying they didnt pay the premium. As a result, they brought a force-placed policy ; something I never heard of. My old premium was {$950.00}. Their new policy ( enclosed ) is a whopping {$2700.00}. Furthermore, I find it very strange to receive a letter from the mortgage company ( enclosed ) that my mortgage was going up as of XXXX XXXX because I didnt have enough money in escrow. That XXXX be because they didnt pay the premium and isnt fair to me and even then, they didnt inform me that they didnt pay the premium.
According to the XXXX Mortgage servicing law, before I take any action against the mortgage company, I should send them a letter of error. On XXXX XXXX, I sent the mortgage company a notice of error letter ( enclosed ) for an explanation as to why they let the policy lapse and they passed the time limit for a response. It's now been XXXX weeks and they have not responded.
Since they broke section XXXX of RESPA and failed to provide insurance payments to this property as agreed to and signed in documents at closing on XX/XX/XXXX, XXXX requesting that they immediately cancel the force-placed hazard insurance policy, and demand that they reimburse my mortgage account for the difference in the premium payments that they made to put the force-placed policy in force. I also demand that my former insurance policy be reinstated and if there is an increase in my new insurance policys premiums due to the cancellation, by law, my mortgage company should be responsible for paying the difference.
At the conclusion of all of this, it boils down to one thing. My loan is escrowed, and my mortgage company didnt pay the renewal, insurance or property taxes and had to get a forced-place hazard insurance policy as a result. It seems they were headed in that direction from the start by not informing me they didnt pay. Now the forced-place hazard insurance policy has a higher premium as mentioned, that does not benefit me, it benefits them because they own the policy, I dont. I didnt sign up for this at closing and dont want to lose my home for their dishonesty. There is no way I can call this a mistake after viewing the evidence.
One last thing, viewing the forced-place hazard policy it clearly states that my home may not be fully covered. This a breach of contract because at closing, my home was fully covered. So, if something were to happen to my home and its not fully covered, I couldnt sue the mortgage company because I dont own the policy, they do.
I hope you can help me and not let them get away with this.
Thank you
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| 04/23/2018 |
Yes |
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- Trouble during payment process
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Web |
Servicemember |
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After many months of trying to make contact with PennyMac and dealing with representatives who made promises to assist with my escrow issues, they never followed through. So on XX/XX/XXXX I submitted a complaint with CFPB against PennyMac because I was getting no response or return phone calls from PennyMac from my emails, voicemails or messages via their website.
On XX/XX/XXXX I received a voicemail from someone named XXXX at PennyMac stating she was being assigned to my account to assist with getting my account sorted out. She said she would be researching my account and would keep in contact with me so that we could get my account taken care of. She also said that she was busy the following day and that she would be in contact with me the following Monday. That never happened.
I contacted CFPB last week to follow up with them and to let them know that PennyMac has not responded back to me since the XX/XX/XXXX. He then read me the response from PennyMact to CFPB stating a person named XXXX XXXX said she had made two other phone calls to me after theXX/XX/XXXX. I told him that was untrue because I have had absolutely no phone calls or voicemails from XXXX XXXX or anyone else from PennyMac. The statement from XXXX XXXX is full of false information and it totally misrepresented me as well as giving false information about my account.
I am submitting this complaint because I have called XXXX XXXX 's contact number four times in the past week, two of the calls I left voicemails, yet I have had no response from her at all. I called PennyMac six times today to four different phone numbers and was placed on-hold on each one of them for extended periods of time. I feel this is the only way to get someone at PennyMac to respond to my attempts to contact them.
In my most recent voicemail to XXXX XXXX XXXX told her that if I did not hear from her or someone at PennyMac this week then I would cease to make any further mortgage payments. I have been paying my regular loan payments twice a month for over eighteen months and have never missed a single payment. The issues here are with my escrow account, which I have been attempting to pay but I can't get in contact with PennyMac to do this. My credit scores were in the XXXX range, but PennyMac chose to ruin my credit even though I have been making my payments. Now I have nothing to lose with stopping my payments, which I will do if someone other than XXXX XXXX contacts me this week.
I am trying to settle this issue but I can't do that when the person assigned to my account won't even return my calls. To PennyMac-reassign my account to someone else and have them call me by the end of this week. If I don't answer have them leave a voicemail with his or her name, contact number and extension and I WILL call them back. I work a very tedious and technical job and can not stop what I am doing during the day to take phone calls when I don't even have my account information with me.
As a note to PennyMac management, when XXXX XXXX left me a voicemail on XX/XX/XXXX, she did not leave me her last name. I had to find that out through the CFPB representative I spoke with last week. I am also contacting the Veteran 's Administration this week to inform them that PennyMac is treating XXXX war veteran 's with inconsideration, unprofessionalism, and disrespect. If PennyMac doesn't want veteran 's business then don't finance our loans. We don't want to be treated with this kind of disrespect. I fought for my country and am honored to have served. I wonder how many employees at PennyMac are able to say that.
At the end of the day I want to resolve this issue with PennyMac, however they need to repair my credit because I have made my payments on-time. Just because they have dishonest people working for them doesn't mean I am at fault. My contact phone number is XXXX. I would appreciate it if PennyMac would step up to the plate and have an honest and professional representative contact me as soon as possible so this issue can be resolved and closed. I am willing to pay the fees required to bring my escrow account to current status.
I thank you for your time and understanding.
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| 04/05/2023 |
Yes |
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- Trouble during payment process
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Web |
Servicemember |
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Good morning I made XXXX of XXXX 's mortgage payment to Penny Mac on XX/XX/XXXX in the amount of {$3300.00}. Somehow even after cancelling auto-pay with Penny Mac they withdrew another payment on XX/XX/XXXX in the amount of ( {$3300.00} ) labeled " Retry Payment '' on my bank statement. This " retry payment '' resulted in my account to be overdrawn, and forced my family to live much of the month of XXXX through Credit Cards. I called Penny Mac on the XXXX and told them this was a mistake and to refund me the second payment. They said it could take 5-10 business days to go back into my account, i received that credit on XX/XX/XXXX. I verified once again that auto pay had been cancelled on my account, they answered with yes it has been ( They also told me that the phone calls were recorded so there should be proof of this communication ).
After thinking everything had been straightened out, I was hit with yet another Penny Mac " Retry Payment '' on XX/XX/XXXX in the amount of {$3300.00}. Not including the one credit that Penny MaXXXX issued me, that's a total of roughly {$9900.00} withdrawn from my account in the month of XXXX when my mortgage is only $ XXXX.
To make matters worse the back the fourth between PennyMac and myself was getting know where ( had taken over 3 weeks for you to give me a call ), and PennyMac could not give me an actual answer on why they drafted my account numerous times in XXXX, how long it would take to get my money back, or even verify that the funds posted to my account. With the now uncertainty around my money, I was forced to take a loan out of my XXXX XXXX account on XX/XX/XXXX in the amount of {$10000.00} which finally brought my account into the green ( not including the couple XXXX dollars I have to pay back on credit cards now ).
On XX/XX/XXXX I started an internal dispute with XXXX as the payment on XX/XX/XXXX was unexpected and was labeled Pennymac Retry Payment {$3300.00}. XXXX started the investigation and gave me a provisional ACH Credit on XX/XX/XXXX in the amount of {$3300.00}, they stated that this would only stay in my account if the dispute ended in my favor, if the investigation proved to not be in my favor it would be reversed.. On XX/XX/XXXX XXXX posted the ACH Dispute Credit to my account in the amount of {$3300.00}. On that same day the ACH Provisional Credit was reversed debiting my account {$3300.00}.
I got Penny Mac and XXXX on the phone at the same time so that XXXX could confirm that all of these withdrawals in fact posted to my account. XXXX confirmed all of this, but still no answer from Penny Mac on where my money is at.
What is Penny Mac going to do for my family to rectify this mistake? This has been one of the most stressful, financial situations i have ever been in. Not to mention the most embarrassing. I hold a XXXX XXXX XXXX XXXX, so every time I default or over withdrawal it flags my account for suspicious activity. This entire fiasco resulted in cancelling our kids spring break vacation as we did not have the funds to pay for it.
The simple fact that Penny Mac can not see my funds is question for concern, not to mention the automated Retry System seems extremely flawed as it pulled from my account multiple times in XXXX all while my account was paid up and in good standing. On top of that I had asked them to STOP auto pay entirely.
In conclusion the following information is what you will find on the attached bank statement.
Please see the attached XXXXXXXX XXXX Statement which clearly shows the following transactions from PennyMac that I am referencing in this complaint ( To keep things easy to read I have highlighted all pertinent information in yellow ).
XX/XX/XXXX Penny Mac Online payment withdrawn from my account $ ( XXXX ) XX/XX/XXXX Penny Mac Retry Payment withdrawn from my account ( {$3300.00} ) XX/XX/XXXX Penny Mac Credited to my account ( {$3300.00} ) XX/XX/XXXX XXXXenny Mac Retry Payment withdrawn from my account ( {$3300.00} ) Total Withdrawals from Penny Mac in the month of XXXX = {$9900.00} Total Credits from PennyMac = {$3300.00} Total moneys paid to Penny Mac in XXXX = {$6600.00} Respectfully, XXXX XXXX
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| 04/20/2020 |
Yes |
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
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I was informed by PennyMac Loan Services , LLC, about a great opportunity to refinance my current loan in mid-late XXXX when I originally called about another matter at which point in time I was informed of the process, agreed and started. At the beginning of the process I was informed that my cash to close would amount to be similar to my current mortgage and that was understood. After weeks of submitting documentation on request I received an automated email saying I had been approved on XXXX. XXXX. The following day I called to determine the final cash to close amount and if I needed to pay the month of XXXX 's mortgage at which time I was told that it would be about XXXX dollars to my surprise, and that I wouldn't need to pay XXXX 's mortgage. I agreed and went to set up an appointment with the notary to come to my house ( new procedure due to COVID-19 ). Later that day I received an email from a loan processor that stated I was in the final stages of my approval which made no sense due to the aforementioned approval email and scheduling of notary. I emailed back and inquired about prior approval, the response from the same loan processor was an email stating that I was now approved and a completely different cash to close amount that was 1k+. The following day I spoke with the loan processor that provided the disclosure with the 1k+ amount and requested to have my recorded conversation pulled and analyzed for accuracy in regards to the XXXX dollar amount I was promised. The next business day I followed up with another phone call in which I spoke to a manager who I informed of the dates/times of phone calls and the misleading information in regards to my closing costs. This manager reviewed my complaint and info and called me back with a solution to take care of all closing costs and set up an official notary appointment to occur on the date I am writing this email XX/XX/XXXX. I was satisfied with this solution and looked forward to closing, I was informed the notary would call to confirm my appointment a day prior ( XX/XX/XXXX ) and assured I wouldn't need any cash to close. On XX/XX/XXXX I was called by the original loan processor with another cash to close amount of XXXX dollars. I informed her of the conversation I had with her management and the discussion of no cash to close and instructed her to please contact the manager I spoke with to confirm and to call me with the final amount immediately as I had been told so many various amounts and have become frustrated. I received no call back, no documentation showing cash to close amount, nothing. I followed up with an email to the processor and the group email for refinancing. The following day XX/XX/XXXX ( sunday ) I attempted to call with no success due to them being closed. The notary called me at a completely unprofessional hour of XXXX leaving a message that did not state her position title asking for a call back to confirm appointment.On today I received a phone call stating that she had received my email at which time I immediately asked to speak with management, she informed me she would have them call me ASAP. Hours later on today XX/XX/XXXX a manager called me stating that I would have no closing costs and that thenotary had been contacted an my appointment would be held on schedule at XXXX. I asked for my closing disclosure in writing and he informed he would provide it to reflect my no cash to close and other discussed information, I stated my frustrations and agreed. Five minuets later the manager calls me back and states that the notary would be bringing a disclosure document that he did not want me to sign that reflected an amount owed. He stated I would be emailed a form that I would then need to print, scan and email back to him. I further complained that this seemed very unprofessional and was causing me more work for something they messed up and at the time of composing this I am still waiting on proper documentation. This process has caused me a great deal of stress in the mist of a very stressful world event, their mismanagement of my application has caused me to mismanage funds and miss time sensitive events.
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| 03/25/2022 |
Yes |
- Debt collection
- Mortgage debt
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- False statements or representation
- Attempted to collect wrong amount
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Web |
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In 2018 I gave XXXX XXXXXXXX XXXX my ssn to purchase a home. XXXX XXXX XXXX was delivered a note with my signature with actual cash value. XXXX XXXX XXXX began requesting payments on this alleged loan XXXX XXXX XXXX then sold this original note to PennyMac Loan Services. Then PennyMac Loan Services began collecting on this note. I came to realize that XXXX XXXX XXXX and PennyMac Loan Services have both been violated TRUST LAW from the inception of the alleged loan. Because my Social Security Number was given, a trust transaction was created. XXXX XXXX XXXX assumed the role of trustee and fiduciary of this account and I am the beneficiary of said account. When PennyMac Loan Services purchased the alleged loan PennyMac assumed the role of Trustee/ Fiduciary. It is the Trustees responsibility is to act in the best interest of the beneficiary, this has not been happening. Pennymac Loan Services continues harass me monthly with phone calls and send me payment coupons AKA bill/statement but. I have even attempted to call PENNYMAC to find out who and where to send a endorsed payment coupon AKA bill/statement and/ or the proper IRS documents to send to PENNYMAC to settle this matter. Again, the Trustee is not acting in the benefit of the beneficiary.
I have asked on multiple occasions for the GAAP accounting on/off ledger account since the inception of the account so a forensic account audit and investigation can be conducted be sure that I owe this alleged debt I have also requested to view the original note with my wet ink signature ( not a photocopy ) to verify who is the holder in due course of the note, which I have that right to request and have produced to me as the beneficiary of this trust transaction. Them having and or making a photocopy of the note, which is a mortgage security, and Pennymac is attempting to collect payment on an alleged debt that was created by a fraudulent contract are in clear violation of 18 usc 474 which states, Whoever, with intent to DEFRAUD, makes, executes, acquires, scans, captures, records, receives, transmits, reproduces, sells, or had in such persons control, custody, or possession, an analog, digital, or electronic image of any obligation or OTHER SECURITY of the United States is guilty of a Class B felony.
However, they still choose to injure the beneficiary and violate TRUST LAW and cause stress and injury to beneficiary. Pennymac ( Trustee ) would rather send me rude, abusive and offensive correspondence in the mail. Which is also a crime to send false, misleading, and deceptive correspondence through POST OFFICE, which violates POSTAL regulations. The GAAP accounting will show I was never loaned anything by XXXX or Pennymac anything. The note that was delivered had actual cash value which funded the transaction and XXXX XXXXXXXX XXXX and its agents used deception to act like they gave me a loan when it was really and exchange.
When they do decide to respond I received letter like this from Senior Management : As stated by XXXX XXXX d/b/a XXXX XXXX ; Priority Specialist for PennyMac Loan Services my CONTINUOUS requests have deemed unduly burdensome, irrelevant to the servicing of the loan, or the information youve requested is considered proprietary.
I guess me the beneficiary attempting to handle this matter since the TRUSTEE refuses to do so is a problem for PENNYMAC and TRUST LAW gets looked over.
They rush you through signing documents. Never properly disclose what they are going to do with the note, spends years causing you stress and when you attempt to handle the situation honorably they still choose to act in dishonor.
I have attempted to handle this matter privately on several occasions. If this matter isnt addressed and settled very soon I am prepared to report this the SEC, FDIC, Department of Finance, Attorney General on the Federal. State and Local Levels, FTC and XXXX
Attached in Green Return Receipt showing that pennymac has received my request and the letter to show proof how PEENYMAC ( Trustee and FIduciary ) has chosen to respond the a beneficiary request documentation that should be ready available upon request.
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| 09/27/2021 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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I am submitting a complaint because the mortgage servicer, PennyMac, failed to make a payment on our long-held, established comprehensive liability insurance policy. The mortgage service then, without notice to me, obtained forced-place insurance at a higher premium ( {$710.00} ) and for less coverage than our existing policy that it failed to pay. We learned of this mistake when there was a water leak in our unit that caused almost {$690.00} in damage to the unit below. We attempted to make an insurance claim but learned there was no policy in place. We had to pay the full amount as the forced-place policy would not cover the damage. This damage would have been covered by the policy that we had in place before the mortgage servicer failed to make timely payments.
This appears to violate the mortgage servicing requirement of Regulation X and specifically 12 CFR 1024.17 ( requiring timely escrow payments ) and 12 CFR 1024.37 ( b ), limiting forced-place insurance. I am seeking : ( 1 ) {$710.00} cover the higher premium of the forced-place insurance ; ( 2 ) payment of {$690.00} for the damage not covered by the forced-place insurance ; and ( 3 ) for the servicer to correctly make the payments to our prior XXXX insurance policy ( approx {$600.00} ).
The following is a summary of what happened XX/XX/XXXX : Refi loan was obtained for the property, XXXX XXXX XXXX XXXX XXXX, VA XXXX through XXXX XXXX/XXXX XXXX Loan # XXXX ) ( Contact information : XXXX XXXX , NMLS : XXXX ; Phone : XXXX ). Note that at this time, the XXXX insurance policy # XXXX XXXX XXXX XXXX XXXX was effective and in place and was being paid through escrow.
XXXX, XXXX : On or about this month, the loan was sold and management of the loan was transferred to PennyMac. Notice was sent to us indicating that all terms of the loan would remain the same. Presumably, this included ongoing payment through escrow for the insurance policy in place at the time.
XX/XX/XXXX : The aforementioned insurance policy was allowed to lapse. We were given no notice of this by PennyMac ( or XXXX for that matter ).
XX/XX/XXXX : Notice arrived via e-mail saying that the aforementioned insurance policy had been cancelled for non-payment.
XX/XX/XXXX ( date uncertain ) : I called the insurance company to inquire about why/how the insurance policy had been allowed to lapse. I was told that no payment had been received. When I inquired further, I was told that XXXX had been trying to bill the previous mortgage holder ( XXXX ) for the premium. I directed them to try to collect payment from our current lender instead. ( Note : It remains unclear whether XXXX followed up on this request, but I do not believe that issue is relevant with respect to this complaint, which is about the mortgage companys failure to pay the premium and/or alert travelers to the change in mortgage ownership in the first place ).
XX/XX/XXXX : A valve in the dishwasher in our rental unit ( XXXX XXXX XXXX XXXX ) failed, resulting in a leak significant enough that water seeped through into the unit below, XXXX XXXX XXXX XXXX. The damage resulted in the need to replace and repaint parts of the units kitchen ceiling ( see attached photographs ). Total cost for ceiling repair was {$690.00} ( See attached receipt ). Any and all of the details of the flood can be verified by the property manager for XXXX XXXX, XXXX XXXX. Contact information : XXXX XXXX, XXXX.
XX/XX/XXXX : I paid the contractor the {$690.00} due for work done to repair/repaint XXXX ceiling.
Other important notes : Per XXXX on XX/XX/XXXX at the XXXX Insurance Agency, ( XXXX XXXX ), PennyMac has been billed 3x by XXXX ( starting in XXXX ) but has not paid the bill for policy # XXXX XXXX XXXX. Per XXXX at PennyMac on XX/XX/XXXX, a different Travelers policy that we never asked for which is roughly {$110.00} more expensive than our original policy and offers less coverage ( policy XXXX ) and FOR WHICH WE HAVE NEVER RECEIVED DOCUMENTATION is in place. I have been unable to obtain ANY documentation about this policy or when it was placed despite a half dozen attempts with XXXX and PennyMac contacts.
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| 04/26/2022 |
Yes |
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
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My closing was scheduled for XX/XX/29. I was off by XXXX percent on my income for debt, I have XXXX in the bank XXXX of my credit cards i use for points and don't carry a balance and I could have easily paid off my car. I also had my current house rented for XXXX per month and could have gotten someone else to give me XXXX ( XXXX bedroom house in XXXX XXXX ) I was ignored, not warned that there was an issue and therefore was NOT offered any of these options which I easily could have addressed. I have refinanced before and I know the game. I could have submitted a letter, 6 months of credit card statements showing zero carried balance month to month so min due per month wouldn't apply. I had a gift of equity in play but the appraisal came back lower than expected, my in-laws were willing to carve off another XXXX off asking to make this happen but no XXXX option I was off by XXXX percent on my income for debt, I have XXXX on the bank XXXX of my credit crds i use for points and don't carry a balance and I could have easily paid off my car. I also had my current house rented for XXXX per month and could have gotten someone else to give me XXXX ( XXXX bedroom house on XXXX XXXX ) I was ignored, not warned that there was an issue and therefore was NOT offered any of these options which I easily could have addressed. I have refinanced before and I know the game. I could have submitted a letter, 6 months of credit card statements showing zero carried balance month to month so min due per month wouldn't apply. I had a gift of equity in play but the appraisal came back lower than expected, my in-laws were willing to carve off another XXXX off asking to make this happen but no option was given because XXXX XXXX and XXXX XXXX '' XXXX XXXX FROM PENNY MAC DIDN'T CALL ME ONCE TO WARN ME AND GIVE ME A CHANCE TO COMPLY .... I already was concerned because earlier I was off by XXXX percent on my income for debt, I have XXXX on the bank XXXX of my credit cards i use for points and don't carry a balance and I could have easily paid off my car. I also had my current house rented for XXXX per month and could have gotten someone else to give me XXXX ( XXXX bedroom house on XXXX XXXX ) I was ignored, not warned that there was an issue and therefore was NOT offered any of these options which I easily could have addressed. I have refinanced before and I know the game. I could have submitted a letter, 6 months of credit card statements showing zero carried balance month to month so min due per month wouldn't apply. I had a gift of equity in play but the appraisal came back lower than expected, my in-laws were willing to carve off another XXXX off asking to make this happen but Noooooo no XXXX option was given because XXXX XXXX and XXXX XXXX '' XXXX XXXX DIDNT CALL ME ONCE TO WARN ME AND GIVE ME A CHANCE TO COMPLY .... I already was concerned because earlier on they switched me to an XXXX without warning and without informing me which if they HAD TOLD.ME THAT WAS THE CASE I could have made arrangements then to stay conventional... Check my records ... XXXX XXXX FAILED ME and I am paying the price... I was supposed to close this Friday.. I looked like a complete XXXX to my FAMILY when I was WELL QUALIFIED TO CLOSE THIS DEALon they switched me to an XXXX without warning and without informing me which if they HAD TOLD.ME THAT WAS THE CASE I could have made arrangements then to stay conventional... Check my records ... XXXX XXXX FAILED ME and I am paying the price... I was supposed to close this Friday.. I looked like a complete XXXX to my FAMILY when I was WELL QUALIFIED TO CLOSE THIS DEAL given because XXXX XXXX and " XXXX XXXX XXXX XXXX DIDNT CALL ME ONCE TO WARN ME AND GIVE ME A CHANCE TO COMPLY .... I already was concerned because earlier on they switched me to an XXXX without warning and without informing me which if they HAD TOLD.ME THAT WAS THE CASE I could have made arrangements then to stay conventional... Check my records ... XXXX XXXX FAILED ME and I am paying the price... I was supposed to close this Friday.. I looked like a complete XXXX to my FAMILY when I was WELL QUALIFIED TO CLOSE THIS DEAL
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| 01/19/2019 |
Yes |
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- Struggling to pay mortgage
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Web |
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XXXX XXXX XXXX XXXX XXXX : Loan # XXXX FHA Case # XXXX XXXX XXXX, 3rd Party User, called my lender on ( XX/XX/XXXX ) @ approx. XXXX XXXX XXXX EST, spoke to XXXX, XXXX, Customer Services, to confirm if my Authorization, the 84 pages of the FHA Pre-Foreclosure ( PSC ) documents were received and have the appraiser call him to set up time for his visit. She stated the documents were received on ( XX/XX/XXXX ) and that he should back to follow up on the appraiser status.
XXXX called back several times to, XXXX XXXX, XXXX @ XXXX, she stated to XXXX that he had no Authorization yet transferred him to the Short Sale Department, XXXX XXXX , Loan Resolutions Specialist. He also stated XXXX had no Authorization yet that he could email and/or call XXXX, XXXX @ XXXX, XXXX, to followup on the file. XXXX called her she didnt pickup so he left her an email message to call him back. XXXX called again spoke to XXXX, XXXX @ XXXX XXXX, still XXXX had no Authorization, etc. XXXX called back again spoke to XXXX, ID # XXXX, Loan Counselor Division @ XXXX EST. He confirmed XXXX had Authorization and they received the 84pages was then transferred to, XXXX ID # XXXX, Escalations Collections Department. She also stated the Authorization and the 84 pages of the documents were received on ( XX/XX/XXXX ) and that no short sale Option was available because there wasnt sufficient ( days ) time to postpone the foreclosure ( XX/XX/XXXX ) sale date.
XXXX stated to Timesha that the judicial process for a foreclosure in the State of Maryland is ( 21 ) days that PennyMacs discretionary business practice contradicts violates FHAs Loss Mitigation Options, Handbook 4000.1, violating a US Government-insured product that PennyMac is required to obey the FHA Guidelines.
PennyMacs discretionary guidelines, argument, delay, tactic to ratify [ this ] Foreclosure Sale is outside of FHAs Loss Mitigation Options endeavoring no resistance of illegal foreclosure business practices/activities to forbid disavow our foreclosure Rights or worse profiling XXXX ( minorities ) retired senior citizens, nix ( {$0.00} ) relocation money, ruin our credit and pursue a deficiency judgment its the perfect crime ( why ) there is no sufficient days ( required ) before the foreclosure sale pursuant to the FHA Loss Mitigation Options, Handbook 4000.1, Sections III.A.2.j ; III.2.I.i. ( A ).
FHA Guidelines allow us to short sale our property for the ( {$3000.00} ) relocation assistance with no pursuit of a deficiency judgment. If the foreclosure sale and/or ratification occurs, PennyMac and all ( said ) Parties involved will have committed a felony. PennyMac can not be allowed to circumvent the Law of Unauthorized Mortgage Account foreclosure business practices this is very similar to the Court approves XXXX XXXX XXXX XXXX settlement for allegedly lying about fake accounts. Shareholders accused the bank of lying about cross-selling tactics XX/XX/XXXX, XXXX XXXX said business practice is much worse.
If the request for short sale is not rebutted by written response following your receipt of this Compliant, I will presume said above facts to be correct and will enforce my Rights against any and all Banks, Servicing Companies and/or persons who violate my Rights willfully or out of ignorance of the Law.
A denial of Due Process will be deemed an act of conspiracy and conversion and will be escalated to the TV stations channels XXXX, XXXX, XXXX, and XXXX Investigations Teams, my State Delegates, Senator, Governor, Office of the Comptroller of the Currency, State Attorneys General Office, XXXX XXXX, XXXX XXXX, XXXX XXXX XXXX, XXXX XXXX XXXX XXXX, etc. XXXX XXXX XXXX. : XXXX XXXX Agrees to Pay XXXX XXXX to Resolve Consumers Class Action Lawsuit About Unauthorized Accounts, will be hired to file this Class-action suit ( yes ) will cost PennyMac millions.
UNDER PENALTY OF PERJURY, I have examined the statements of fact presented in this letter with XXXX and to the best of our knowledge and belief, is true, correct and complete. All calls were monitored and recorded ( phone transcript ) will verify the conversation with the above Parties.
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| 01/27/2023 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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To warn PennyMac and the CFPB of the immediate actions that have occurred today by XXXX using actions of PennyMac, via a Title company representing PennyMac.
Concerning PennyMac CFPB filing XXXX PennyMac has unknowingly been used in this effort to take our home by the second position. The second position did this by using the title company to represent PennyMac. ( see photos attached ) They then intimidated with a builder/lawyer conflict of interest ( attached ), giving us direction on how to communicate with PennyMac. After that they used their lawyer and these ( attached ) illegal notification actions to justify this to the court. It is wrong.
We had our day in court today concerning the filed CFPB case.with XXXX XXXX this information is associated with that filed claim. I think this can build support for PennyMac as their efforts to help have been fantastic. It is unfortunate that XXXX has used Documents and representatives of PennyMac, by the title company to also support the deception that occurred today. XXXX has been negligent. our original complaint concerning the XXXX representing lawyer, deception and Potential corruption. I do Hope for help from XXXX ASAP because we now have a three day eviction notice. We also hope for help from the CFPB or any other federal entities to avoid the 3 day court ordered eviction. Here is what occurred with the XXXX representing lawyer.. First, we pointed out in our conversation with XXXX and the prior filing the conflict of interest in having a lawyer for the bank also represent the builder. They approached a fix to this conflict by hiring a different lawyer and using the XXXX XXXX as a witness. This was beneficial to providing support for the scam/fraud/corruption claim. The testimony provided by the XXXX lawyer showed contradiction and deception under oaths This hearing was recorded. It was explained in detail the effort to post a notice of sale via affidavit. They XXXX XXXXXXXX explained that as well as having no recollection of a XXXX Notice being placed and the XXXX notice was the one that mattered anyways that would indicate only one notice. We had received two notices not one. One placed in XXXX, signed but dated XXXX. The other was posted in XXXX, both were dated XX/XX/2022. Copies provided. Why would a lawyer with XXXX foreclosures and XXXX reversals do this? The one from XXXX was extremely suspicious to us because it was the day after we made our first trial payment with PennyMac. We then immediately contacted the number on the Notice, the XXXX XXXX. We were told the Foreclosure and Sell had been canceled. Looking at the evidence pack provided by the XXXX team, there was one notice with the appropriate accompanied XXXX affidavit. But we had received two both dated the same date, ( copies provided ). Looking further in the near Chronolgically ordered evidence pack. There was another one, with no affidavit and it is dated XX/XX/2022. The same date. Why would it not be placed by the other document? It had to be included in case we had both of ours, they would not want to withhold evidence but again distance it from the other that had an affidavit. Two by each other with only one affidavit would draw attention as well as two near each other dated the same. The two originals were stuck on our door at two different times ( attached ). One in XXXX, signed, No afidavit. The other in XXXX, signed with affidavit. Why would you sign one that had an XXXX date on it and put it on the door of someone in XXXX with no affidavit? We have both originals that were stuck to our door. One in XXXX that was not remembered by the XXXX XXXX but dated XXXX it had with no affidavit and then the one in XXXX with an affidavit. How many times had this trick and deception been applied to homeowners to force them into bankruptcy to avoid it or to give them their home under deceptive pretense. The XXXX lawyer made specific note as to most petiole file bankruptcy right before. If this is the case does this type of confusion and deception not press people into undue situations that they may have avoided or handled differently?
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| 04/19/2017 |
Yes |
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- Loan modification,collection,foreclosure
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Web |
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1 ) I was self-employed and unable to make my mortgage payments. I applied and was approved for assistance while I was recovering from a financial hurdle.
2 ) XXXX , XXXX , I became employed full time as a XXXX with the XXXX XXXX XXXX XXXX XXXX and requested assistance from my mortgage lender, XXXX XXXX XXXX to do a loan modification. 3 ) XXXX , XXXX , while in the middle of completing loan modification paperwork, my mortgage loan was transferred from my mortgage service provider, XXXX XXXX XXXX to Penny Mac. The new Servicer, Penny Mac, did not receive any of my documentation that was previously sent to XXXX XXXX XXXX . How is it possible they received all my loan information, including my private demographic information, but NOT receive any other correspondence from XXXX XXXX XXXX in regards to the status of my loan? It appears there is a disconnect and they information and documentation was not conveyed to the new Servicer, Penny Mac. I be lieve this would be a XXXX and CFPB violation. 4 ) This caused a delay in me being able to complete the loan modification paperwork and my house was put into foreclosure despite me processing the paperwork because despite my new employment, I was n't able to get the past due payments caught up. I was told I had to redo the loan modification paperwork for Penny Mac.
5 ) XXXX , XXXX , I completed Penny Mac 's loan modification paperwork and began to make the trial payments. 6 ) XXXX XXXX , XXXX , I had to take medical leave of absence from my XXXX job. My employer began arguing that I did not qualify for my XXXX XXXX XXXX benefits even though I had been paying into the benefits from the first day of hire. 7 ) Late XXXX , XXXX , I was approved b y Penny Mac f or the loan modification program and my XXXX payment was accepted b y PennyMac. I w as told the paperwork could take up to 30 days to arrive to sign and finalize the loan modification. 7a ) XXXX XXXX , XXXX , XXXX XXXX , the underwriter and point of contact for the Loan Modification Program throug h Penny Mac ( XXXX ) returned my phone call. Per my communication log, XXXX XXXX advised me that I have the full month of XXXX to make the payment and the documents for the loan modification program were due by the end of XXXX . She also advised me not to sign the loan modification paperwork if I was trying to complete a short sale on my house. 8 ) XXXX XXXX , XXXX , my income dropped substantially making it impossible for me to make the XXXX payment. 9 ) XXXX XXXX , XXXX , Penny Mac sent me a mortgage statement billing me for the full past due amount, stating my " ... loan is severely delinquent, and as such, foreclosure action has begun ... '' I was not even given 30 days before they moved my loan from loan modification directly into foreclosure as this statement was dated XXXX XXXX , XXXX . I received it towards the end of the month. I also had not been late with my mortgage at this point. I had made my XXXX payment, which Penny Mac a ccepted and processed. The XXXX payment was not late until past the end of the last day of the month of XXXX . 10 ) In a letter dated XXXX XXXX , XXXX ( received XXXX XXXX , XXXX ), Penny Mac outlines short sale proceedings stating, " PennyMac Loan Services ... .wants to work with you to resolve your delinquency issues ... This letter is to inform you that you loan is being reviewed for a short sale and your file is currently in the application phase. '' The letter outlines all documentation they needed, which I had already submitted to them via the XXXX XXXX XXXX Short Sale depart. chair, XXXX XXXX . 11 ) XXXX XXXX , XXXX , I calle d Penny Mac to discuss again short sale options. XXXX XXXX of Penny Mac XXXX told me my loan was moved to the short sale department. PENNY MAC HAD STARTED THE SHORT SALE PROCESS. ***PLEASE SEE ATTACHED DOCUMENT " XXXX XXXX MORTGAGE COMPLAINT WHAT HAPPENED XXXX '' FOR MORE INFO.
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| 03/28/2020 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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PennyMac USA is responsible for servicing of my mortgage. As part of my {$1800.00} monthly payment, I pay {$440.00} into an escrow account for taxes and insurance. PennyMac USA failed to make the appropriate Real Estate Tax payment on time for the First Half XX/XX/XXXX Real Estate tax payment, due XX/XX/XXXX. I received a notification from the city on XX/XX/XXXX, and forwarded that to PennyMac for resolution.
In total I was charged {$210.00} penalty and {$37.00} in interest ( total : {$250.00} ).
I purchased my home in XX/XX/XXXX, originally financing with XXXX XXXX XXXX XXXX I had refinanced my loan in the third quarter through XXXX XXXX, and servicing for the mortgage transferred to PennyMac approximately a month after closing. Because new construction has added complexity for initial tax payments, I proactively reached out to PennyMac to ensure all necessary payments were identified and satisfied.
# 1 Message Sent to PennyMac on XX/XX/XXXX @ XXXX XXXX " Hello, My home is new construction in XX/XX/XXXX. Mid-year, while my property was still under a lien with XXXX XXXX XXXX, the City of XXXX sent a one-time tax bill for new construction. XXXX XXXX XXXX paid this via escrow account taxes. This is because the assessed value of the property meant a tax bill of only ~ {$600.00}, the city didn't want to miss out on the ~ $ XXXX in taxes from the construction.
I do not see this information captured on the upcoming escrow payments, and I reasonably expected that to be a bill due in XXXX. Is it possible for PennyMac to follow up with the City of XXXX and determine the correct amount for payment, to ensure any fees/issues are avoided?
Thank you, -A '' # 2 Message Received from PennyMac on XX/XX/XXXX9 @ 6:48:47 PM " Hello A, As taxes are included in your escrow account, no action is required. PennyMac receives your tax bill information directly from your tax assessor and verifies the amount prior to payment and will disburse payments prior to the discount date.
Thank you, XXXX " # 3 Message Sent to PennyMac on XX/XX/XXXX @ XXXX XXXX " No one has replied here in a week. Please advise. I am not willing to pay late fees as a result of the failure of PennyMac to correctly pay city real estate taxes. Contact me immediately by phone at xxx-xxx-xxxx with proposed resolution.
" # 4 Message Received from PennyMac on XX/XX/XXXX @ XXXX XXXX " Hello, There are two options to repay your escrow shortage. You can either pay the shortage in full or by making the new monthly payment shown on your monthly billing statement. If you elect to remove the shortage at a later time, please contact our Customer Service Department for the current total shortage amount, and to make payment arrangements.please contact our Customer Service Department directly at ( XXXX ) XXXX to request that we establish an escrow account and pay the upcoming bill ( s ) that is/are due.
Thank You XXXX " In message # 1 above, I relay clearly that PennyMac must reach out to the city to ensure comprehensive tax payment information is received. In message # 2, PennyMac assures me that tax information is received and distributed correctly prior to the discount date. That should be sufficient assurance that I am not charged a late fee, particularly after I outlined the situation and scenario to the escrow professionals at PennyMac.
I received notification from The City of XXXX on XX/XX/XXXXabout this delinquent bill. I immediately relayed the information to PennyMac, who made the payment, including penalties, on XX/XX/XXXX. I have since contacted PennyMac three more times ( XX/XX/XXXX-email, XX/XX/XXXX - phone, XX/XX/XXXX-email ) and have received no additional clarity, support, or reassurance around the underlying concerns, or any confirmation that the penalty fees assessed to me will be refunded. PennyMac has further ignored multiple tweets requesting swift attention, as well as all requests to contact me by phone directly. In my phone conversation XX/XX/XXXX, I was told I would be followed up with the week of XX/XX/XXXX, which also did not happen.
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| 04/26/2022 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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Loan originated in XX/XX/XXXX. First payment was made on XX/XX/XXXX and on time payments have been made every month since.
PMI was issued for loan based on original loan-to-value. This was paid in full every month.
Value of home appreciated very quickly based on market conditions. I called my loan servicer, PennyMac, in XXXX of XXXX the appreciated market value of the home rose to a level that would qualify for removal of the PMI relative to the remaining balance on our loan.
I reached out to PennyMac and requested an appraisal, for which I was charged {$150.00}. They appraiser called and asked me if we had completed any major renovations to the home and used examples of a deck remodel, a renovated kitchen or renovated bathroom. We indicated that we had done some landscaping work, added rock, trees, plants, etc., thought nothing along the lines of the " major renovations '' she had noted, but that we believed that the market value of the home had nonetheless appreciated to a value to qualify for removing PMI. She indicated that unless we had done a " major renovation '', we would not qualify for PMI removal until we had made 24 consecutive payments. They subsequently reimbursed the {$150.00} payment.
On XX/XX/XXXX, we resubmitted our request to have the PMI removed after completing 24 consecutive on-time payments.
On XX/XX/XXXX, I was contacted by an appraiser assigned by PennyMac who asked me about any work we had done on the home. I said no major renovations, but that we had made our 24 consecutive payments. He further inquired about any minor projects, to which I informed him that we had done the landscaping work and added trees and plants. He came out to our house on XX/XX/XXXX and completed the appraisal. He suggested we follow up with PennyMac the following week.
I have since followed up with PennyMac twice to inquire about the status of our request. PennyMac indicated that they received the appraisal on XX/XX/XXXX but that it may take up to 60 days to fill the request. This seemed like a very long time to complete a simple math equation ( loan-to-value ratio and verification of 24 on-time payments ), so I contacted the mortgage broker that initiated my loan.
He indicated that there should have been no such requirement to wait 24 months before removal of PMI, so long as the appreciated market value of the home exceed a minimum threshold, so we started asking questions of PennyMac. Thus far, they have told us : 1 ) Loan had to have 24 on-time payments before we could use the appreciated market value of the home against the loan amount to apply for PMI removal.
2 ) That certain home projects did not qualify for sufficient improvements to the home to qualify for consideration of PMI removal prior to 24 months. We were subsequently told differently, that even smaller projects, so long as they added up to a minimum of {$5000.00} ( PennyMac threshold that was mentioned on XX/XX/XXXX phone call ) would have qualified, including the landscaping work we completed.
XXXX ) That Fannie Mae services the PMI and is responsible for the timing for cancelling the PMI payments. However, there are PennyMac requirements ( {$5000.00} minimum updates to the home to qualify, minimum 24 months of on-time payments ) that must be met before they would apply to remove the PMI.
If considerations should have been given to removing the PMI in XX/XX/XXXX, we would have saved over {$850.00} in PMI payments. The delays in allowing us to apply for PMI removal, the roadblocks set up by PennyMac to delay our application process and the additional 60 day waiting period all seem like business practices implemented to increase collection of revenue that helps their bottom line.
We would consider transferring our mortgage to another lender ; however, with the increase in interest rates since the initiation of our loan, it would cost us far more to refinance with another company, and it seems as if PennyMac realizes that we have no choice but to pay these additional fees and help them improve their bottom line.
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| 12/28/2020 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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XX/XX/XXXX Escalated Complaint and Fraud Departments : The loan was transferred from XXXX XXXX XXXX , IXXXX ending in XXXX to Penny Mac ending in XXXX to XXXX XXXX XXXX , XXXX ending in XXXX to XXXX XXXX XXXX ending in XXXX to XXXX XXXX XXXX, XXXX ending in XXXX to XXXX XXXX XXXX XXXX ending in XXXX all within 11 months ; The Borrower didn't receive a letter notifying the transfer Borrower reflected {$750000.00} in mortgages owed in the Credit Bureau reporting, causing not to afford minimal lines of credit due to excessive Debt to Income Ratio.
IRS 1098 inaccuracy for payments made throughout the year.
XXXX XXXX XXXX XXXX declared that XX/XX/XXXX payment was made in XX/XX/XXXX, causing inaccurate IRS interest reporting.
PennyMac refused to take payment in XX/XX/XXXX. First, their system was down. Then, when finally patched through the end of the month, I realized the loan had been transferred, and they would not make the payment. The loan was in " transition '' still with Penny, they could still view it and make the payment but refused to because of their internal info message.
The Borrower received random incorrect not in compliance e-mails from XXXX XXXX XXXX not per FDCPA.
Failure to comply with ECOA.
There are failures in Compliance at the time of the Origination and Servicing.
There are failures to respond promptly and ignoring research inquiries in regards to payments. The Borrower 's bank also sent a query in regards to payments received and cashing of those payments. The Servicer would not respond to the Banking institution or the Borrower. There is Banking documentation on the irregularity of cashing and posting payments.
There are irregularities and misapplication of payments.
Deliberate post application of payments without retroactivity posting of these and creating default payment when non existed.
Breach of Contract since origination.
There are failures to comply with the Privacy Act.
PennyMac sent me a complete file /documentation on another client : Name, Address, Social Security Number, Modification and Financial Agreement, etc.
XXXX XXXX weekend and Hurricane Dorian came upon us. In Florida, the little branch that was supposed to make the payment at the end of XXXX was completely closed! As in drove 30 plus miles to attempt to make the payment. Calls were made to different branches, including New Jersey and the CEO, to make the payment to no avail.
The Borrower wants Full Collateral, with AOMs and Endorsement This account went from being 4 to 6 months paid in advance to the current status.
XX/XX/XXXX, my children 's mother had a tragic accident in which she XXXX XXXX XXXX, XXXX, XXXX, and a XXXX XXXX.
In XX/XX/XXXX, she was intubated. XX/XX/XXXX, intubated again. I was let go on XX/XX/XXXX, after taking off the days before pick up our children from school. She was not released for employment until XX/XX/XXXX. She is now XXXX, has a desk over her bed, and spends most of her time in bed since she has an XXXX that XXXX XXXX XXXX. My children fell very ill, one going to the XXXX in XX/XX/XXXX. We are still trying to figure out what this XXXX was that had had such long-lasting effects.
I regain employment on XX/XX/XXXX, was sent home to quarantine due to exposure in XXXX, and was let go due to CoVID-19 XX/XX/XXXX.
I have been on unemployment, Medicaid & SNAP. I completed my Accounting Degree, and I am I have been in the pursuit of work.
I have immediately addressed the breach of contract as I saw the payments ' misapplication and mismanagement of the loan since origination. During this time, life happened ; life has been happening.
As I have too many documents to upload, please have all communication with me in writing.
XXXX XXXX XXXX, XXXX.
XXXX XXXX XXXX .
XXXX, FL XXXX XXXX XXXX XXXX XXXX , XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX, XXXX XXXX XXXX, CA XXXX XXXX PennyMac Loan Number : XXXX Attn : Correspondence Unit XXXX XXXX XXXX XXXX XXXX, CA XXXX ( XXXX ) XXXX http : XXXX, XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX CA XXXX XXXX XXXX XXXX
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| 01/27/2016 |
Yes |
- Mortgage
- Conventional fixed mortgage
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- Loan servicing, payments, escrow account
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Web |
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- Refinanced my mortgage loan from XXXX to PennyMac on XXXX/XXXX/XXXX for a 30 year fixed at 3.75 % in the amount of {$170000.00} Loan type : Conventional W/O PMI - Was new mortgage analysis I requested XX/XX/XXXX completed? NOT COMPLETED AS OF XXXX/XXXX/XXXX - So far PennyMac has overdrawn our interest bearing bank account almost {$5000.00} ( {$4800.00} ) starting on XXXX/XXXX/XXXX with no reasonable explanation leaving me unable to pay my property taxes. The usual amount was {$820.00} and now its {$2000.00} XXXX Exhibit-A ) - There are XXXX charges and XXXX refund on my loan activity page. Explain what each of them is for. ( Exhibit-A ) - # XXXX XXXX/XXXX/XXXX ( {$5200.00} ) labeled " Miscellaneous Insurance Premium ''?? XXXX confirmed it was for XXXX XXXX Fire Insurance - # XXXX XXXX/XXXX/XXXX ( {$1700.00} ) labeled " Miscellaneous Insurance Premiums ''?? XXXX confirmed this was for Hazard Insurance - # XXXX XXXX/XXXX/XXXX {$1100.00} labeled " Hazard Insurance Refund '' Why was there a credit? What is it for? XXXX could not verify this but I believe it to be a refund for the ( {$1700.00} ) - {$1100.00} = {$620.00} ( one year premium ) divided by 12 months = {$52.00} x 3 months of lapsed insurance = {$150.00} {$150.00} divided by 12 months = {$13.00} {$820.00} + {$13.00} = {$830.00} Monthly mortgage should have been {$830.00} instead of {$2000.00} - # XXXX XXXX/XXXX/XXXX ( {$3400.00} ) labeled " Flood Insurance Premium '' was refunded on XXXX/XXXX/XXXX. So why am I being charged for it? ( Exhibit-A, B, & C ) - Why does the " Annual Escrow Account Disclosure Statement '' letter " Projected Escrow Account Balance as of XXXX/XXXX/XXXX show {$9300.00} when loan activity shows a credit of {$3400.00} given on XXXX/XXXX/XXXX and a cancellation letter for " Flood Insurance '' dated XXXX/XXXX/XXXX. ( Exhibit-A, B & C XXXX - Why then did they start taking out {$2000.00} starting on XXXX/XXXX/XXXX instead of the usual {$820.00} resulting in a depletion of my property tax money from my interest bearing bank account. ( Exhibit-A ) - If they knew my Condominium Unit Owner ( Hazard ) Insurance expired on XXXX/XXXX/XXXX according to their XXXX XXXX, XXXX letter, why did they use a premium of {$20000.00} instead of my last known amount of Condominium Unit Owner ( Hazard ) Insurance coverage that I purchased, as they stated they would do in the letter, which was {$620.00}. ( Exhibit-F & I ) - Why did they take out Condominium Unit Owner ( Hazard ) Insurance worth over XXXX dollars ( {$570000.00} ) for a XXXX sq.ft. apartment when not even the loan amount itself is worth {$170000.00}. I only pay a premium of {$620.00} for the entire year for my Condominium Unit Owner ( Hazard ) Insurance, not {$20000.00} and they would have known this if they knew my Condominium Unit Owner ( Hazard ) Insurance expired on XXXX/XXXX/XXXX ( Exhibit-F & I ) - Why are they charging for three/four months of Condominium Unit Owner ( Hazard ) Insurance if it was placed on XXXX XXXX, XXXX and cancelled XXXX XXXX, XXXX according to their letters. ( Exhibit-D, E, F, G, H & I ) In addition I called on XXXX/XXXX/XXXX and spoke to XXXX XXXX ID # XXXX who assured me the escrow and XXXX. insurance premiums had been removed from my account. XXXX said that in the " Deed of Trust '' Section 5 ( Property Insurance ) they can go back several months and place insurance even though they had not purchased it yet.
- When did PennyMac switched from XXXX to XXXX insurer and why? Was it because of fraud? XXXX acquired my loan on XXXX/XXXX/XXXX - On XXXX/XXXX/XXXX we spoke with supervisor XXXX XXXX at XXXX Ext : XXXX of the XXXX, TX office he verified several things which are highlighted in blue above.
- XXXX XXXX, XXXX is the last day to pay my monthly mortgage without penalty.
- Currently XXXX stated there is a balance owed of {$1000.00} for the 3 months of no Hazard Insurance. Divided by 12 months would bring the monthly value from {$820.00} to {$900.00} or an additional {$86.00} per month. THIS IS UNACCEPTABLE!
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| 12/18/2020 |
Yes |
- Mortgage
- Conventional home mortgage
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
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This is a follow up complaint to the complaint # XXXX. PennyMac XXXX Services Inc.
The company 's XX/XX/XXXX response to my previous complaint is not acceptable because it does not address the key issues I raised in my previous complaint and the response also basically tells lies about what actually happened.
First, the company has changed its story about the main reason for its loan denial decision. The decision letter states it is " credit incomplete '' and the totally nonrelevant documents were attached providing no support for the decision. When I challenged the decision, a PennyMac operations manager told me that " credit incomplete '' is not the reason. He informed me that the reason is my DTI ratio exceeds the lender 's threshold. I challenged it since there is no way my DTI ratio is as high as he stated. I demand that the company disclose how my DTI was calculated. He never responded further. Then three weeks after the loan decision, I was told by the complaint specialist at the company that the reason now was " document incomplete ''. But this is a lie because I can provide the documented evidence that I provided all the available documents the company requested, always promptly throughout the whole process. For a company making hundreds or thousands of such decisions routinely, why they can not give straightforward and clear reasons for this particular decision?! After failing to provide an answer that can hold up on the factual ground, the company 's response simply avoid it.
Secondly, the company 's response does not address the problems I listed in the previous complaint including but not limited to : requesting the documents that don't exist ( e.g. mortgage statements on a rented apartment ) ; requesting the same documents three or more times. These problems clearly contributed to the extraordinary delay, confusions and eventually a wrong decision on my loan application. The company 's response does not acknowledge and investigate into these problems in the first place so it is obvious the company has no intention to address the problems.
Thirdly and the worst is that the company 's response tells lies. For example, the company 's response letter states " we did not receive the requested documents for your property at XXXX XXXX XXXX, XXXX, TX XXXX, or proof that the other owner paid the expenses associated with this property from their personal bank account, and the rate lock was expiring, your refinance application was declined on XX/XX/2020 ''. This is untrue. On XX/XX/XXXX, I provided all the abovementioned documents in 4 attachments to XXXX XXXX, Retail Operations Manager in XXXX Office and Mr. XXXX confirmed the receipts of these documents. Then on XX/XX/XXXX, the new loan officer, XXXX XXXX requested the same documents. I forwarded her the documents I submitted to PennyMac on XX/XX/XXXX and also attached my email to Mr. XXXX to informed him that I had already submitted what she requested two weeks earlier. Another example, the company 's response letter also states that the records show that I did not disclose my monthly rent. This is not true either. I did report my monthly rent as my monthly expenses on my application. The monthly rent I reported was reported a little lower than what the lease agreement shows because I received 1.5 month rent free as the incentive to sign the lease. There are several other cases that the company response letter refers are not factual.
Several times, I offered the complaint specialist that I can provide the evidence to support every issues I complained about but she was interested and just declined. After seeing the company response, I now know why. I was promised a " thorough '' investigation into the issues I raised, the company 's response letter, just like what PennyMac employees did to me before, is a complete disappointment. It represents everything an honest, transparent and accountable public company is not. There is no real intention by the company to address the problems.
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| 03/22/2019 |
Yes |
- Debt collection
- Mortgage debt
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- Attempts to collect debt not owed
- Debt was paid
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Web |
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I, XXXX XXXX XXXX Tendered payment in full amount thereto PennyMac OBO XXXX XXXX on XX/XX/XXXX. It was received on XX/XX/XXXX. I spoke to the remittance department and they said they had received it. The agent stated that it was sent to the wrong department but was forwarded to the Remittance Department and ready to submitted for payment. On XX/XX/XXXX I received a letter From PennyMac written by XXXX XXXX Research Dept. She stated in a letter that the Tender of payment is not an acceptable form of payment or an allowable transfer of property. This is false and someone may need to educate XXXX XXXX of said dept. Base upon law " XXXX the new law sovernmcnt oblieations. bills of exchanse. drofts. notes. trade acceptances. and banker acceptances. Because il is backed by the credit the nation- It wiII represent a mortgage on all the homes. and other property of all the people of the nation '' Senate DocumentNo. 43, 73rd Congress, lst Session, Congressional Record, XXXX XXXX on HR 1491 p. 83.
The said notes shall be obligations of the United States and shall be receivable by all national and member banks and Federal reserve banks and for all, and other public dues. They shall be redeemed at the Treasury Deparhnent of the United States, in the city of Washington, District of Columbia, or at any Federal Reserve bank. 12 U.S. Code 411 - Issuance to reserve banks ; nature of obligation ; I spoke with XXXX a PennyMac Representative and she said the tender of payment was received and processing allow ten days for such to happen. Please advise the letter from XXXX where is requested the CEO to respond! Therefore you are in default based upon our contract number XXXX. The phone call was recorded as noted on your documents for reference thereto the conversation held on XX/XX/XXXX approximately lpm cst. Penny Mac Corp Correspondence address XXXX, CA, I also noticed an increase in the principle balance totaling {$390000.00}. PennyMac Corp on Behalf of XXXX XXXX you are hereby notified that I do hereby tender payment for the above referenced obligation of debt, and because this debt concerns properly of the United States it is deemed by law and operation of statute to be a govemment obligation and must be handled in accord with the dictates of statute. I XXXX XXXX accept the obligation on behalf of the United States of America and hereby make assignment of the obligation to the United States Treasury Deparfinent on behalf of the United States ofAmerica as authorized by statute. PennyMac OBO XXXX XXXX, you are to present the item ( remittance coupon ) to the United States Treasury Department or at any Federal Reserve bank to include any Federal Reserve member banks to redeem the value of the obligation. As per the terms of the contract this shall serve as my notice of change in terms of contract, cancelling and or suspending any acceleration penalties and paying the US government debt obligation for value through acceptance pledging an assignment in full. Please accept this Tendered Payment Coupon and or Money Order which is lawful payment and credit my account ASAP, XXXX XXXX [ Account - PENNYMAC CORPORATION / XXXX XXXX 0 Attn : REMITTANCE DEPARTMENT XXXX XXXX XXXX XXXX XXXX, CA [ XXXX ] XXXX GOVERNMENT OBLIGATION 's REMITTANCE COUPON Pay and Pledged to the order of PENNY MAC CORPORATION without recourse . Amount of Obligation : CREDITED XXXX XXXX XXXX ) ( PAYER BY PAR INTENTIONS : The above United States govemment obligations is hereby accepted and acknowledged and I do assign and pledge the total value of the obligation to the United States ofAmerica through d1e United States Departrnent of the Treasury to be redeemed for value and receivable at the Federal Reserve, the Federal Reserve Bank and/or any member bank and/or national Association as prescribed by statute ( the act of XX/XX/XXXX ; the act of XXXX XXXX ; 12 USC 4ll ; l8 USC 8 ; and the intentions of ttre United Stats Congress concerning THE CURRENT SERIOUS NATIONAL EMERGENCY ).
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| 06/06/2019 |
Yes |
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- Trouble during payment process
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Web |
Servicemember |
|
I closed a va mortgage loan on XX/XX/XXXX. 6 months later I get bombarded with IRRRL refi offers. I contacted PennyMac, the current mortgage loan holder, and inquired if they do this, They said they did. Long story short, I re-fied with them and closed on XX/XX/XXXX.
During the back and forth of mortgage quotes, I was asked if I wanted a check for the escrow balance of {$3200.00} or if I wanted to just transfer to the new loan. I said transfer as I don't need money and that this is taxes. The rep who asked this was XXXX XXXX ( sp? ). Before the close I received the closing documents and a call from a fellow named XXXX XXXX. He explained he would be with me until the close going forward. I told him, on a recorded line, that the escrow amount is underfunded and I'd like the taxes to be correct from the onset of the loan ... something I couldn't seem to get corrected on the original loan. He told me he had to go off what the county provided them and to just make extra escrow payments to correct the amount. I didn't worry because the current escrow was to be transferred as previously discussed and that was what I was doing all along. I thought the escrow funds number was a placeholder until my regular funds transferred.
During the closing, ( which was conducted by a notary, not a qualified mortgage person ... simply sign and run type ) I noticed Escrow Refund on the documents and the correct amount so I wasn't concerned. 2 weeks after closing, I notice the escrow still hasn't transferred. I called in and was told that they applied the escrow to the principle balance of the old loan instead of transferring it the new loan escrow. This was NEVER discussed or authorized and I am now severely underfunded on escrow for XXXX. When I confronted XXXX XXXX about this he said he told me it was going to be applied to the loan. I said, yes ... .the new loan, as always discussed! I was also told by the loan officer, XXXX XXXX, that the associate who originated the loan, XXXX XXXX was no longer employed. I called the manager XXXX XXXX, but had to leave a voice mail as there was no answer. His VM message also directed me to an another manager is XXXX 's absence, XXXX XXXX, of which I also left a message requesting a call back and explanation about this. I was panicked and very upset about the thought of being behind on my taxes. I'm never behind on anything and never had this situation before. To this day, I have received no call backs from either manager. XXXX XXXX did call me back and told me that the escrow department was going to investigate my account and had me email him my Tax letter from XXXX county so he could forward to the escrow department and he said that they would be finished investigating by XX/XX/XXXX. I called this morning, XX/XX/XXXX and had spoken with a XXXX and a XXXX in escrow. After 1 hour and 24 minutes on the phone and various holds, NOTHING had been done on regarding this over the last week. XXXX did say she is going to take control of this and forward up the chain of command. I was told though, that there is nothing they can do now regarding the old account and wrongly applied escrow. I forwarded, the tax letter directly to the escrow department this morning, per XXXX 's request, via the website message center, as they didn't receive anything from XXXX XXXX. She is correcting the taxes and the payment amount to reflect the increased taxes. But, they still haven't told me how they are going to rectify the bungling of the escrow or how they are going to fund the escrow correctly. I'm going to end up with a shortage in all likelihood, and have to make up the shortfall on top of my regular payment ... negating the whole purpose of the refinance in the first place ... to lower my payments. Never will I do business with such a dishonest company like PennyMac ever again and all Veterans should run away from them. You'll never get told the same thing twice and no follow through. They play dirty pool.
|
| 12/09/2015 |
Yes |
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- Loan modification,collection,foreclosure
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Web |
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1. I have a FHA loan on my home purchased XXXX/XXXX/XXXX through XXXX XXXX XXXX which was sold to XXXX XXXX XXXX shortly afterwards. I was terminated from my job XXXX/XXXX/XXXX because I did n't qualify for FMLA to have an XXXX that kept me out of work beyond my remaining XXXX XXXX days. I was hospitalized XXXX of the 11 days. I fell behind on my mortgage payment that was {$1700.00} at the time and remained delinquent for 9 months while unemployed. I became employed again on XXXX/XXXX/XXXX and finally, HUD secured the delinquent debt with a 2nd Lien and my payments remained {$1700.00}. I continue to struggle because this job paid {$13000.00} less per year than the job used to qualify for my home. This job lasted 2 years with no raise and therefore I had to find more income and therefore commuted to take a pay increase of {$8000.00} annually to {$58000.00} starting XXXX/XXXX/XXXX to pay my mortgage. Again, I needed FMLA and was denied. My XXXX daughter and college student became critically ill and was unable to care for herself. I became her care-giver on XXXX/XXXX/XXXX. U.S. Department of Labor later deemed that this was a violation of the FMLA Act. However, I was out of work for 6 months with no income due to denial of unemployment. My next job came XXXX/XXXX/XXXX, but now my salary of $ XXXX/year is {$18000.00} lower than XXXX salary.
The Housing Crisis was happening obviously during the buying process and my house fell below its Principal Balance by more than {$100000.00} by Year XXXX. I submitted XXXX MHA Modification Requests to XXXX XXXX XXXX over a 2-year period from XXXX to XXXX. While engaged in Modification mitigation with XXXX XXXX XXXX, they sold the loan to PennyMac Loan Servicing effective XXXX XXXX, XXXX without providing a Decision on my MHA packet. PennyMac requested that I resubmit a new MHA packet to them to start the process again. Now, this is my XXXX MHA application ; nevertheless, I provided all requested information and documents. While engaged in MHA mitigation, PennyMac filed Foreclosure on my home with a Sale Date of XXXX/XXXX/XXXX. I, in turn, file Chapter XXXX on XXXX/XXXX/XXXX. My Bankruptcy payments were {$450.00} per month as I continued to pay my {$1400.00} Mortgage ( ARM ) and approximately {$1800.00} more expenses monthly. After being in Bankruptcy for nearly 1 1/2 years, the case was dismissed on XXXX/XXXX/XXXX for payment default. I 've been communicating with my Bankruptcy attorney and PennyMac for over 6 months now about the hardship to pay {$1800.00} ( XXXX + XXXX ) to my mortgage for much longer and needed relief. I also disclosed my most recent illnesses and what stress has caused. Now I have an XXXX, among other conditions. I 've called PennyMac over XXXX times since XXXX/XXXX/XXXX to speak with XXXX XXXX, the assigned representative ; however, she would not return my call. I have a voice message recorded on XXXX/XXXX/XXXX that she tried to reach me but nothing beyond that. I 've also left a message for her supervisor ; however, never received a call from her either. I 've been getting the run around since XXXX/XXXX/XXXX to provide them more documents and explanations of hardship surrounding the date of XXXX/XXXX/XXXX ; however, I 've been making my mortgage payment every month since XXXX/XXXX/XXXX through XXXX when I learn of the dismissal. It is obvious that they have not applied my monthly mortgage payments according to the Chapter XXXX Plan. On this day, XXXX/XXXX/XXXX, I have yet to speak with my assigned XXXX Representative after numerous requests. Furthermore, on this date, XXXX/XXXX/XXXX, my account states that the MHA application is still " Under Review '' and have not made it to the next step which is the " Decision '' ; however, I received notice from their attorney certified yesterday, " Notice of Acquisition '' and HUD 's Request for Temporary Stay once the home is acquired.
2. Modify my Home.
3. Will provide.
4. PennyMac Loan Servicing
|
| 08/11/2015 |
Yes |
|
- Loan servicing, payments, escrow account
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|
Web |
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On XX/XX/2015 we had black water damage to the interior of our home, due to septic pump failure caused by lightning. We had to utilize plumbing, septic, and mitigation services immediately to eradicate affected materials to make our home safe. We filed an insurance claim that day XX/XX/2015. The insurance adj came to our home on XX/XX/2015 and wrote an estimate for repair costs not including the costs for services already completed. This estimate totaled {$10000.00}. The adjustor then gave us a check for {$6100.00} and had Penny Mac listed on the check. He then explained that Penny Mac requires this if the damage exceeds {$7000.00}. I then contacted Penny Mac for instructions. After receiving instructions, I emailed all documents and then priority mailed affidavit and check on XX/XX/2015. According to the USPS, this package was delivered to Penny Mac Loan Services, Loss Draft Department XXXX XXXX XXXX, XXXX XXXX, TX on XX/XX/2015. I then gathered XXXX estimates for repairs and submitted them and the contractor contract to Penny Mac according to instructions for receipt of first disbursement. Throughout this process I contacted Penny Mac verifying receipt of documents and asking for updates on disbursement. On XX/XX/2015 I sent Penny Mac a XXXX check from XXXX XXXX for {$5200.00} for services already completed ( mitigation, plumbing, and septic ). I then contacted them on XX/XX/2015 to confirm the receipt of this check, and check on the disbursement check I had not received. I was then told they were only sending me {$2000.00} of the {$6100.00} XXXX check received. I was shocked and asked them how they were able to determine that amount when the cost of the replacement flooring exceeded {$2000.00}. I was not given a reasonable explanation, and was just told that was their policy and if I needed more funds to send invoices for materials. I then sent invoices for vinyl flooring and re-referenced both estimates I sent. I then explained that type of disbursement schedule would not be acceptable for getting the job started, and for the second check sent for {$5.00}, XXXX since this was payment from the insurance company for services already completed. I finally received the XXXX disbursement for {$2000.00} on XX/XX/2015 and called Penny Mac to confirm the receipt of the second check and confirm that they would not hold those funds since it was for services completed over a month ago. I have been receiving invoices requesting payment from these providers. I was on the phone with Penny Mac for two hours trying to explain my situation, and I was placed on hold for collectively an hour while the rep was trying to speak with supervisors and account managers, neither would speak with me directly. They stated this was their policy and would not release any additional funds until all work is completed. They have not processed these funds timely, and have an unreasonable policy in place. I feel there is an integrity issue at play, hiding behind this policy. I have personally paid roughly {$1800.00} of my own personal funds to keep the repairs active to purchase materials since Penny Mac has not sent me sufficient funds to have the repairs started. If Penny Mac 's primary concern is with the repairs being completed, why would they not release enough funds to even purchase the materials? I do not feel Penny Mac has my property interest at heart and are stating claim to funds that are not theirs. I signed an affidavit stating these repairs would be completed with funds submitted by the insurance company, but am not being allowed due to this unrealistic disbursement schedule. Having this notarized affidavit, Penny Mac should allow disbursements based on legal responsibility of the mortgagee. By not submitting disbursements timely and in reasonable amounts they are leaving me vulnerable to legal action by service providers and breach of the affidavit they required me to sign
|
| 01/25/2016 |
Yes |
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- Loan servicing, payments, escrow account
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Web |
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In XXXX of XXXX, my original mortgage company who had always been very understanding and helpful with me sold my mortgage to Pennymac.
Pennymac changed my due date to the beginning of the month and I just could n't pay it. I called and ask them to change it to the end of the month and they said everyone 's mortgage is due at the first of the month and they do n't change due dates. So yes I will admit, I have racked up a good amount of late fees, but I had every intention of paying that off when I got my XXXX tax refund. I ca n't give them what I do n't have and they are completely ignorant to that fact. I have never missed a payment, I work so hard to stay afloat and they do n't even look at that and give me any slack. I have ask them for a hardship reduction and they said I did n't qualify for one.
I do n't know how owing {$600.00} more a month in bills then what I make does n't qualify for a hardship reduction, but they told me it does n't. Also if I wanted to be considered for a short sale, I would have to be late on payments and ruin my bad credit even more.
My house has been on the market for 3 or 4 months, I am selling it for cost. I am walking away with nothing but bad credit and debt.
Then I find out my credit dropped even more because of PennyMac and I would n't even be able to get an apartment.
PennyMac took my XXXX XXXX mortgage payment of {$1600.00} and applied it to late fees and then put the rest in escrow. Then they reported my mortgage as being 30 days late causing my credit score to drop XXXX points. When I called them on XXXX XXXX, XXXX, the rep I spoke to acknowledged what they did, apologized and said she would fix everything including reporting to the credit bureau that I was never 30 days late. All she said was I owed {$180.00} in late fees which I paid on the spot. I could hear her boss in the backroom agreeing with everything she was saying to me. I thought they were actually acknowledging my efforts and had waive all the other late fees.The next day XXXX XXXX I paid my XXXX payment of {$1600.00}. That afternoon I started receiving calls that my mortgage was late and I called them back every time. They called on the XXXX, XXXX, XXXX, XXXX, XXXX, XXXX, and now today the XXXX. Every call was 40 plus minutes long stating everything that was taking care of on the XXXX XXXX call. Everyday but today they have said oh ok, we will make a note of this and it will be fixed. With the exception of today, today the rep tells me, that the conversation never happened on the XXXX even thought I asked her several times to review the recording tapes and she said that I still owe {$1300.00} for XXXX payment.
Obviously no one there knows what they are doing and as the customer I am getting the raw end of the deal.
It seems no one there is actually making any notation in my account, causing me to have to repeat everything back to them everyday I speak to them as if I ever spoke to them before. That is ridiculous.
Also on a side note, I believe that they actually do n't keep records, I get letters all the time saying I need to actually reach out and speak to them about my difficulties paying instead of ignoring them. I speak to this company all the time. I wonder who is ignoring who!
The women I am speaking too now is telling me I am wrong about everything and I owe an additional {$1300.00} before all this will be fixed. So now the payment I made for {$1600.00} for my XXXX payment was again applied to late fees.
My bank account has {$15.00} in it, so I ca n't pay {$1300.00} in late fees.
This company obviously does not know what they are doing and should not be handling my mortgage.
What makes me the most angry is they are acting like the conversation I had with them on the XXXX never happened. The women who promise to remove all the fees if I paid the {$180.00} also said she would report to the credit companies that I was not la
|
| 05/08/2019 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Applying for a mortgage or refinancing an existing mortgage
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|
Web |
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In XX/XX/XXXX of this year, I contacted PennyMac about the possibility of paying down the principal on my mortgage, and also to refinance. The reason for this is because my now-husband and I were getting married, and because we planned to pay at least $ 200K toward the principal, I asked them to add my husband to the loan and refinance the current mortgage. On XX/XX/XXXX, we put the process on hold, but re-started the refi process with PennyMac on XX/XX/XXXX. During that time, the refinance department emailed and called me constantly with updates and requests for documents, including documents that had already been sent previously. Ultimately, we ended up not refinancing with PennyMac as their customer service left a lot to be desired, and because XXXX XXXX was able to offer a far better interest rate and term on refinancing our mortgage with just my husband on the loan. Here 's where the real problems began : on XX/XX/XXXX, a creditor with XXXX XXXX called to advise that my husand had never been added to my PennyMac loan. This in spite of the fact that my very first request to PennyMac was to add my husband to the loan. The XXXX XXXX rep had conferenced in a rep named XXXX in the PennyMac customer service department, at which point we asked exactly what information we needed to provide in order to add my husband to the loan. He told me that they needed a note with my signaure AND my husband 's with the loan number and verbiage stating that I was requesting that he be added. I sent this on Monday, XX/XX/XXXX, by fax and also uploaded a copy to their online portal. I called on Wednesday, XX/XX/XXXX, to see if they received my letter and to confirm everything was in order. I spoke with XXXX ( XXXX? ), she told me that the letter was insufficient because my signature did not match my " legal signature ''. At this point I was transferred to a supervisor, I believe her name was XXXX ( not 100 % sure ), that not only did I have to provide the note with a legal signature, I also had to send a copy of my husband 's Social Security card and drivers license and a copy of my homeowners insurance policy with my husband on the policy. In addition, I also needed to update the title on the house to have my husband added. I told the supervisor and wrote on my letter to please call or email me to confirm receipt or if there were any questions. I sent the SSN/DL along with the proof of insurance on XX/XX/XXXX through the online portal, and sent the updated title on XX/XX/XXXX. On XX/XX/XXXX, I received a letter in the US mail, stating that they were unable to process my request, for the following reasons : they couldn't read the number on my husband 's social security card, my homeowners policy did not have PennyMac listed as the mortgage holder, as well as the updated deed. Oh, they also wrote that there was a {$100.00} processing fee that needed to be paid. AT NO TIME IN THE 3 MONTHS WE WERE WORKING ON THIS DID THEY SAY THERE WAS A PROCESSING FEE. We are trying to provide them with what is requested but the problem is that they keep changing/adding new items that we need to submit. At this point it is jeopardizing our being able to refinance our home through XXXX XXXX. Please know, I don't have an issue with requiring the documentation requested but I was never given complete information about the requirements ; in fact, I'm beginning to wonder if they are just looking for more roadblocks to throw up to keep us from refinancing with another company. The supervisor I spoke with on XX/XX/XXXX send I was sent an email about this, but I never received an email about adding my husband, all I received were document requests for the refi. This is the absolute worst customer service I've received in my life : I was never given the complete information from the start, and then only received piece-meal details from PennyMac as to what they needed to add my husband.
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| 08/12/2015 |
Yes |
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- Loan modification,collection,foreclosure
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Web |
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With the financial issues the XXXX has been suffering the last few years, Kentucky was one of the hardest hit, in which is the state I reside in. Unfortunately my husband and I had fallen into financial obligations besides which had taken away from making our house payment. Over the last eleven years our house payment has been through three mortgage companies. Our mortgage company at this time is Penny Mac Home Loans. After falling behind we were trying for a loan modification back in XX/XX/XXXX of 2015, in which was filled out and faxed at my husbands company that went through successfully? Waiting to hear a response from them to see if we had qualified, in late XXXX of 2015 we received a letter stating that our house was being foreclosed. Neither of us understood why we were being foreclosed on so we had called them, and they had stated they never received the modification packet. It said it was received on our end of the fax, so we are assuming they had misplaced it. They said we could fill out another modification packet, but our home would remain in foreclosure. When we had tried sending that XXXX through on fax, only XXXX pages would go through and after four times of trying, my husband called to see if there was another fax number that he could try and they said there was only one fax number. This was not true for the reason when our Legal Aid representative spoke with them at a later date they provided her with two fax numbers. We had received a letter which we had asked for giving us the amount we needed to get caught up which included their lawyer fees. Some of the fees included estimated fees, and when we called to get an explanation they could not explain and told us we had to ask their lawyer, in which when I had spoken with them they said that Penny Mac was supposed to give us that information. Penny Mac could not explain all of the fees when we had called back. Some of the fees that that they could explain were different than the ones that were originally on the paper we had received that was good until XXXX XXXX of 2015. The call was made prior to the date they had indicated on the letter. Their lawyer could not understand where some of their fees were coming from and extended the date until XXXX XXXX 2015. The call to them was made to them four days before the due date of the XXXX on several different occasions. Their lawyers also did not understand where some of the fees had occurred from as well and extended the letter from the XXXX to the XXXX of XXXX. Each time a phone call was made to them we would get a different representative each time we would receive different amounts of the estimated numbers. The main one was the inspection fees that were a different amount from each representative. Some of the inspection fees were more than the others which did not even make since to our legal aid representative. While sitting with our legal aid representative we had called Penny Mac on speaker phone the woman kept putting us on hold to try and find the quotes our representative wanted. She could not find what legal aid was requesting and after spending a half an hour on the phone with her mysteriously she could not hear us anymore and hung up. Our representative asked us to call back and we had a different person on the line. I had given this person permission to speak with our representative, as I did with the first, and she would not speak with her, but she would speak with us, and again we did not receive what we had needed, also she was getting rude on the phone with me. When on the phone the XXXX person we had spoken to could not find our modification papers, but the second one did. The second person said everything was there except for the XXXX forms in which the original paper work did not ask for. My husband had received a phone call a few days prior to this and they had said everything what we needed was there. It see
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| 06/23/2015 |
Yes |
- Mortgage
- Conventional fixed mortgage
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- Loan modification,collection,foreclosure
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Web |
Older American |
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To Consumer Financial Protection BureauXXXX Advised by mail that XXXX XXXX which this loan was under a modification request, was sold to Penny Mac.
XXXX Loan boarded with Penny Mac , advised this loan was never reaffirmed in a Chapter XXXX filing in XX/XX/XXXX and the debt can not be collected or report as a debt being collected on my credit reports which they have ignored. Advised XXXX that I was working with XXXX for a principal reduction awaiting for approval. XXXX advised that XXXX XXXX was the agent reviewing my file for a mod.
XX/XX/XXXX Rec 'd call from XXXX XXXX, at Penny Mac and advised she is waiting for the approval from XXXX.
XX/XX/XXXX Spoke to XXXX XXXX at Penny Mac, still waiting for approval for principal reduction of {$100000.00} to be put against the arrearages and difference to the balance.
XX/XX/XXXX Rec 'd the Notice of Default filed on my property.
XX/XX/XXXX Called Penny Mac to inquire why the NOD was filed while the loan was being reviewed for a modification. I spoke to XXXX and she advised me that when the loan is in a modification stage the NOD is filed. I told her that is duel processing.
XXXX Received notification from Keep Your Home California ( XXXX ) is pleased to inform you that notice of your conditionally-eligible application for the Principal Reduction Program ( PRP ) was submitted to your loan servicer Penny Mac , XXXX has determined that program assistance is only available if it is combined with a loan modification, provided by your servicer that helps you achieve an affordable payment that meets our Program guidelines. XXXX will maintain your conditionally-eligible status until Monday, XX/XX/XXXX. It is important that you contact your servicer immediately and request a loan modification. Applications for benefit assistance that require a servicer loan modification must receive a final determination of benefits from XXXX by above date. Act now to protect your conditionally-eligible application status with XXXX.
XX/XX/XXXX, Called Penny Mac, to advise XXXX XXXX that we were approved for the {$100000.00} principal reduction, part of it is to bring the loan current. I requested Penny Mac to commence with the medication process and to send a mod pkg. She advised me to call the financials in to Penny Mac first then a pkg would be mailed out.
XX/XX/XXXX Called Penny Mac spoke to XXXX gave him my financial information in order to get a mod pkg sent out to me, he said it would take about 10 days before I see a pkg.
XX/XX/XXXX Rec 'd the mod pkgXX/XX/XXXX Returned the modification pkg back to Penny MacXX/XX/XXXX, I was contacted by XXXX XXXX he is now handling my loan, advised him of we are working with XXXX and he needs to be in contact with them regarding the paydown on the balance and also advised him I am requesting reduction of the debt based on the value of my home which is a XXXX bedroom home. He advised he would order a BPO to see what the value is for a XXXX bedroom. He understood I was looking for reduction of the debt based on the current valueXX/XX/XXXX Faxed employment letter for XXXX XXXX to XXXX XXXX Called XXXX 3 times today to inquire if he received the faxXX/XX/XXXX Faxed my retirement benefits to XXXXXX/XX/XXXX Called XXXX XXXX to inquire the status of the mod and also remind him we have a dead line with XXXX of XX/XX/XXXX or I will no longer be eligible for the approved principal reduction.
XX/XX/XXXX Called XXXX to get an update on the mod he advised submitted for review.
XX/XX/XXXX Rec 'd in the mail today a modification trial for 3 months, pmts calculated at {$2100.00} which includes impounds @ 3 %. I called him to advise this was unacceptable, we can not make those kinds of payments, balance was not lowered, he did not contact XXXX for the funds to reduce the balance. I asked him if he was in contact with KYHC he said no. He had third party authorization
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| 06/16/2016 |
Yes |
- Mortgage
- Conventional fixed mortgage
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- Loan servicing, payments, escrow account
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Web |
Older American |
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XXXX XXXX, 2016 our home damaged as a result of a hail storm, causing more than {$79000.00} in damage to property. XXXX XXXX, 2016 we notified our home owner insurance company ( XXXX ) that our home had received significant damage. XXXX XXXX, 2016 we contacted PennyMac to notify them as I mortgage holder of the damage and obtain instructions on their process requirement. We were provided a Claim Packet outlining the document that we must submit upon receipt of their letter. XXXX XXXX, 2016 we received XXXX checks from XXXX XXXX. We endorsed the checks per the instructions of PennyMac mailed the check to them. XXXX XXXX, 2016 the checks were returned to us by PennyMac. We have a second mortgage and because XXXX XXXX had not endorsed the checks. Nothing in PennyMac suggests, states or instruct us that we should first obtain XXXX XXXX 's endorsement on the checks prior to sending them to PennyMac. We mailed to checks to XXXX XXXX for endorsement and was asked if we wanted them to mail directly to PennyMac? All that they required is that we provide them with a letter and the address and account number with PennyMac and they would XXXX the check to PennyMac Loss Draft Services at the address provided. Why could n't PennyMac have taken this same approach and avoided such a long delay? I personally made at least there ( 3 ) subsequent phone calls to PennyMac asking if they had all the documents that they needed and was told yes each time.
XXXX XXXX, 2016, PennyMac received the check from XXXX XXXX and they have been stuck on 2-3 days to process ever since no matter what you asked regarding the status or when will they disbursed the first check so that the contractor start on the repairs on our home.
XXXX XXXX, 2016, PennyMac mailed a letter to us informing us that they do not have all of the documents needed to set up a draw to initiate repairs. It will take 2-3 days to review all of the documentation that they have had since XX/XX/XXXX with the exception of the check from XXXX.
XXXX XXXX, 2016, I phoned PennyMac to once again inquire about the status of our claim as to when could we expect to see the first disbursement check? Response. They are still reviewing the documents which will take 2-3 business days. After their review it will take 2-3 business days to setup the account. Then another 2-3 business days before a check would be mailed by XXXX, two day delivery. XXXX XXXX, 2016, we received a letter from PennyMac " the account is currently being reviewed to determine eligibility for disbursement. '' A second paragraph states " we are currently conducting a full review of the loan as it relates to the request. The account is currently being reviewed to determine eligibility for disbursement. '' What loan, we are not applying for a loan we just want funds that XXXX XXXX provided us for the repair of our home to be released so that our contractor can began work. What I have found to be a certainty with regards to PennyMac when you call, ALL of their employees will say 2-3 business days throughout the conversation regardless of what the situation. Documents being reviewed and will take XXXX business days. PennyMac 's ridiculous process for receiving insurance funds/draws to make repairs to our home is facing a robber and held up by the PennyMac. Their process for property lost claims over XXXX using a restricted escrow account causes extreme delays in the repairs process. These delays cause a tremendous amount of stress, time and money. PennyMac requires you to be at XXXX % complete after the initial draw using only XXXX of the funds. Then you are required to meet a XXXX % with the next draw of XXXX. In other words you will need to be 90 % complete to get XXXX of your money. The draw process has so many delays : Once you schedule the first inspection after receiving the initial draw, there is a 2-3 day wait just to get
|
| 07/19/2015 |
Yes |
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- Credit decision / Underwriting
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Web |
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I have a mortgage with Penny Mac, I saw the Obama streamline program was being offered and deciced to use this opportunity. I spoke with a XXXX XXXX. The process was going when I realized I was not going to be able to make XXXX payment on time. I decided to cancel my refi. As I was a little behind and was trying to get caught up before trying again. XXXX was on vacation when I cancelled and another Rep, said they would pass along the news. When XXXX returned he called and I explained the situation.He then added XXXX what if I could get it so you would not have to pay XXXX payment, get the Refi and skip XXXX? I was elated. I said sure this would be great. Around XX/XX/XXXX, XX/XX/XXXX XXXX I sent XXXX an email, up to this point we were communicating by phone in which he told me do NOT make XXXX payment. Again on the XXXX I sent email and asked what if anything would be needed for XXXX in the form of payment. I n which in an email I have he says? I will call you tomorrow, in bold letters he wrote? PLEASE DO NOT MAKE A PAYMENT UNTIL I CALL YOU. so I can guide you to make sure you do not have to come in with entire payment. He then called and said to please deposit {$700.00} into my escrow acct. and this would be sufficient to XXXX payment instead of the {$1000.00}. in which I did. I the was expecting to close when the last 3 days a problem showed for Title that XXXX and XXXX were still on Title and we could n't close. These were the original home builder and mortgage company. Needless to say ... the Title did n't get cleared in time and? on XXXX XXXX, I received a call that? ready? I needed to make XXXX mortgage payment before the close of business or I would be Considered late. Now Im at work. XXXX hours before close of business. When I say I do n't get paid until tomorrow XXXX XXXX. They say? sorry but you will be late. I said XXXX told me to not make payment. In which it did n't seem to matter it was now my problem. I spoke with his supervisor XXXX XXXX, who said? he could fix the late payment if I was to be late meaning Payment on XXXX XXXX XXXX for XXXX payment. But it would still show late in FHA and I would not be able to Refi again for 90 days. In a panick already in financial trouble I have to get a payday loan. make payment on time. And call XXXX in which he says? Great Ill call you back. Friday, nothing. WEEKEND goes by, Monday nothing leaving messages for XXXX wont speak with XXXX he did me so wrong I feel. XXXX wont call me back, Tuesday nothing, Wednesday I have to call XXXX. I say XXXX, whats up with this? no one telling me a thing. whats up with my REFI? Ready? Nothing ... the interest rate expired you lost loan.what???? Amatuer hour and unethical between XXXX gentlemen what? trying to pocket {$700.00} could n't call me back or? let me know about my Refi being terminated. now, im further behind and in worse shape financially. so, on XXXX XXXX I start again with XXXX XXXX took out another loan to cover the Penny Mac mess, and try for a cash out of XXXX to get me straight. explain the urgency and situation. I get all docs. in and nothing else is needed. I say please hurry I cant make XXXX payment im in a hole due to Penny Mac the refi is possed to close by XXXX XXXX. I tell all my creditors I will be ok by the time I close on the XXXX and guess what after sitiing on my loan for 2 weeks not closing ... The underwriter now wants to see XXXX payment is made. hahaha. They knew of my situation XXXX institution put me in. Was up front about everything. said they understood could help I begged borrowed and stole to stay alive and??? for 2 weeks im waiting to close. they purposely wanted me to fail. WOW. So now, the fast free Obama streamline for lower PMI, I went from a week behind to more debt and XXXX months behind and drowning fast. Still cant make XXXX payment, and behind in utilities and payday loans. XXXX
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| 05/06/2023 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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My wife and I contacted our lender, PennyMac, to request a recast of our existing loan by submitting an additional principal payment. The lender told us we could recast the loan by sending additional funds and paying {$250.00} for processing. After we gave the {$250.00} processing fee via echeck, and wired the funds of {$110000.00}, the lender emailed us a recast agreement to sign. After reading that the loan would be amortized differently than we expected, we told PennyMac we did not want to proceed and requested a refund of the extra principal payment. We are frustrated and concerned that PennyMac still has not returned our principal payment 12 business days after requesting its return. To this day PennyMac continues to give us vague and indefinite answers as to what day it will be sent to us, and as to whether they will honor our request to have it wired back or overnighted, which we have offered to pay for if that helps to expedite its return to us.
The lender has told us on three occasions the money would be sent. Each time after we didn't receive it, PennyMac told us it was actually still being held for processing. Below is the timeline of events that occurred told from my wife 's perspective.
XX/XX/XXXX. Wired $ XXXX to PennyMac ( PM ) along with {$250.00} recast fee. PM sent an agreement for our review. We reviewed the agreement but after considering it we decided not to proceed with the recast. We did not sign the recast agreement.
XX/XX/XXXX. Contacted PM and requested recast be cancelled and $ XXXX be refunded ; was told I needed to submit a bank statement showing the $ XXXX withdrawal before my request could be further processed.
XX/XX/XXXX. Received phone call from PM ; when called back was told again that I needed to submit a bank statement which showed the $ XXXX withdrawal.
XX/XX/XXXX. Received a request from PM for a callback at my earliest convenience. When I returned the call I asked to reconsider my cancellation request.
XX/XX/XXXX. I submitted the bank statement to PM showing the $ XXXX withdrawal, and I also submitted a copy of the wire receipt for the $ XXXX.
XX/XX/XXXX. PM confirmed receipt of my bank statement. Asked for updated status; was told my request would be processed in 5-10 business days. I asked if that could be expedited and I was told that it would.
XX/XX/XXXX. Contacted PM and asked for an updated status. Was told it was on hold waiting for Investor Approval. Later my husband also contacted PM and was told the funds would be sent to our account by the end of the business day.
XX/XX/XXXX. Contacted PM and asked for an updated status. Was told they were still waiting for approval from their investor XXXX XXXX. Later my husband also contacted PM and was told the same thing.
M XXXX. my husband contacted XXXX and was told the investor got approval and would be sending a check to our home address in a couple of days.
XXXX. My husband called PM to ask the status. He was told $ XXXX would be wired out by the end of the day. At XXXX that day I did not see the funds deposited into our account. I also received a call that day from PM instructing me to call if I still had any questions.
XXXX. Contacted PM and let them know I was returning their call. Was told the message left was about letting me know that the funds would be returned via wire.
XXXX. Called our bank XXXX. XXXX said they did not show any incoming wire and requested XXXX conduct an investigation on their end. XXXX said that if PM provided an XXXX number that XXXX could do a search on their end to see where the funds ended up. I then contacted PM with this information. PM told me that my request was in Payment Clearing Status and suggested that because I had sent the funds via wire, that PM needed extra time to clear them.
XX/XX/XXXX. My husband called PM. XXXX was told it would be wired within XXXX hours.
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| 10/02/2015 |
Yes |
- Mortgage
- Conventional fixed mortgage
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- Loan servicing, payments, escrow account
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Web |
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My husband and I have a mortgage on our primary, and only, residence. We did not choose PennyMac. In XXXX we had a large car repair and we would not have enough money in our bank account the day our mortgage company draws the monthly payment. We called PennyMac and asked what we should do. The customer service representative advised us to do nothing. PennyMac would draw from our account, and there was nothing PennyMac would do to stop the draw. Since the funds would not be there, no payment would actually occur. The agent said they would make a note that we called and waive the fine. PennyMac said we should then manually pay our mortgage before the end of the grace period midmonth. PennyMac said there were no issues with this plan, and that everything would be fine. It was not. And the fine was not waived. We called our bank and explained our problem, and that our mortgage company was going to try to draw from our account when there would be insufficient funds. The bank said there would be a fine, but they did n't see any other problems. Later that month, but before the end of the grace period, we paid our Mortgage at the PennyMac website using our bank account information. We also paid our banks fine. Then PennyMac sent us a letter that this was the second time we had insufficient funds, and that now they will only accept payment in the form of a money order, cashiers check or XXXX XXXX XXXX XXXX -- whatever that is. Suddenly, the " no problem '' plan is full of problems. PennyMac will not allow us to pay our mortgage using their online system. PennyMac will not allow us to make payments using their automatic draw system. PennyMac will not allow us to make payments over the phone. Now, the only payment PennyMac will consider legal tender is the archaic methods of mailed certified funds. These are expensive, unsecured and inconvenient. These were the problems we were trying to avoid when we first called. The first customer service agent should have known PennyMac 's policies and how these policies affect PennyMac customers. PennyMac should have been able to stop the draw. Now, my husband has called PennyMac multiple times in an effort to reinstate our automatic draw -- this was the required method of payment when PennyMac bought our Mortgage. The first call, the agent that helped my husband said the draw had been reinstated, and that our mortgage would be paid from our bank account. Then the same representative called back several weeks later, on the XXXX when mortgage payments are due, and told XXXX that the draw had actually not been set up and that my husband needed to authorize the draw at the bank. My husband called our bank. The bank was not sure what PennyMac was referring to, or what kind of action the bank would possibly need to take. My husband called PennyMac back and talked to a new agent. This agent explained that the draw had not be reinstated and that it would not be reinstated. This was a surprise to my husband, and he asked for the draw to be reinstated. The agent said the issue would need to be researched for 24 to 72 hours. PennyMac would let us know what they decided, and then they both hung up. But, our mortgage was due now. My husband called PennyMac back again. He talked to a XXXX agent, and requested to speak to the same agent that he had just spoken to, so he could make sure our XXXX mortgage was not late. The agent put him on hold and spoke to the XXXX agent. Then the agents accused my husband of calling back in an attempt to rush the research process, after the XXXX agent had explained that it would take 24 to 72 hours. The XXXX agent was not able to understand that we needed to know how to avoid a late mortgage payment. Also, PennyMac makes it very hard to speak to them : their touchtone answering system asks the same questions multiple times and hangs up on you without a reason.
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| 09/02/2016 |
Yes |
|
- Loan modification,collection,foreclosure
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|
Web |
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In XXXX my mother was diagnosed w/XXXX. PennyMac was servicing my mom 's USDA Loan. Her loan was current but she was unable to pay the next payment because XXXX. My brother contacted PennyMac to inform them of my mother 's illness and impending death, and ask if we can temporarilly suspend the payments. Contrary to the USDA Loss Mitigation Guide the customer service representative ( CSR ) stated the mortgage had to be at least 30 days past due for them to do anything. My mom died on XXXX XXXX, 2016. We contacted PennyMac to inform them and ask what they needed. The CSR said to mail in the death certificate, and we faxed it on XXXX XXXX, 2016. My mother did not have a will. We decided that I would be the estate administrator. So, I contacted PennyMac to inform them I would be administering the estate, and to inquire about the estate 's options to forbear or temporarily modify the mortgage until the proper hearings and judicial determinations could be made in order to legally appoint me as the Administrator. They said that they were not allowed to speak with me about the mortgage until they received the death certificate. I called PennyMac every week until the death certificate was finally uploaded into PennyMac 's database on XXXX XXXX, 2016. After that, I attempted to contact PennyMac to discuss any forbearance or temporary moratoriums they could provide to our family until we could open the estate for probate and access my mother 's accounts and cash her insurance and employment checks. The CSR I spoke with informed me that they could only give me general information about mortgage assistance and the process, but was neither allowed to disclose any account information nor allow me to make any changes or requests on the account. PennyMac sent a certified Notice of Default and Intent to Accelerate to our deceased mother on XXXX XXXX, 2016, just 7 days after they had the death certificate on file. In XXXX, I filed to administer the estate. After, the waiting period, the clerk assigned the case to be heard on XXXX XXXX, 2016. Throughout this time period, PennyMac continued to deny all successors in interest access to or help with the mortgage, an ongoing and continuous violation of 12 CFR 1024.38. A PennyMac CSR did send a Request for Mortgage Assistance package to our deceased mother. I called to inquire about this, and they advised me that they would notate her death on the account! The CSR also advised that PennyMac would not accept it until they received administration paperwork. I inquired about making a partial payment and they me that PennyMac would not accept partial payment. PennyMac referred the mortgage to a law firm in Texas to begin foreclosure on XXXX XXXX, 2016. On XXXX XXXX, 2016 I was appointed Administrator and I immediately faxed the paperwork. I continued contacting them until they had the paperwork in their " system '' and thats when they said the mortgage had been referred to foreclosure. I also sent them a legal notice required by Texas law, and they responded by just mailing me a letter saying they tried to call me. I checked my phone records, and they never called. I applied to assume the loan but I was denied because the loan was past due. I applied to modify the loan or get a forbearance and told them I could start making the payments. I sent in three months worth of payments to show a good faith effort to keep the home. They kept requesting the will and proof of employment even though they already had the information that there was no will, and I am a XXXX veteran receiving income from the VA. Two weeks ago they acknowledged it was complete. I was denied two days ago. I did my own calculations using USDA guidelines and I should have been approved. I asked them to give me the figures they used so I could appeal. They said they did n't have them. They are no longer taking my calls.
|
| 08/05/2015 |
Yes |
|
- Loan servicing, payments, escrow account
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Web |
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Predatory Loan Servicing : XXXX XXXX XXXX transferred loan servicing to PennyMac on XXXX 2015. The account went live XXXX XXXX 2015. PennyMac 's XXXX XXXX 2015 ( INCORRECT ) mortgage statement reflects a payment due of {$2100.00} which reflects 2 mortgage payments of {$1000.00} ... even though XXXX payment posted on this same statement. ( ESCROW? XXXX There is no explanation provided to date, nor mention of a suspense account anywhere. PennyMac 's mortgage statement conflicts with ALL recorded payment histories. XXXX XXXX XXXX provided a detailed transaction history that proves payments via ACH were consistent, on time and current. XXXX XXXX XXXX monthly mortgage statements and our personal bank account also support this. ( We were never late. ) Exhaustive measures to communicate with PennyMac via phone or writing has been consistently ignored. PennyMac provides a XXXX XXXX for communications, not a physical mailing address to send certified- return- receipt, etc. They are evasive and intentionally create barriers to block the home owner from receiving loan information AND in a timely manner. XXXX monthly mortgage payment was paid XXXX XXXX XXXX and posted on PennyMacs account website. When I called to verify account updates on XXXX/XXXX/15, I was told that there was not a past due balance, but XXXX payment was still due. How can that be??? The rep also stated the funds are kept in a suspense account, yet there is no mention of a suspense account anywhere on PennyMacs website, mailings or statements. They also relayed that the account is in good standing, so just ignore the statements until accounting gets caught up from the transfer. I ca n't ignore a statement that reflects a past due balance and demanding payment!!! If it is n't past due, then send a letter of explanation or a corrected statement, it 's not that hard. I am entitled legally to an explanation in a timely manner. They ca n't simply mail a statement that reflects a past due balance and request these funds without an explanation and documented proof. They ca n't take payments in full, post them and not credit them by keeping them in a suspense account! PennyMac refuses to transfer calls, denies requests or promises to hear from a loan specialist that never responds. If you call back, put on hold or disconnected, they still refuse to provide an answer. Even their mailings are intentionally late and evasive XXXX statement was post marked XXXX XXXX 2015. It took 5 business day to drop it in the mail. Another payment reminder due for XXXX XXXX 2015 was dated XXXX XXXX 2015 and arrived XXXX XXXX 2015. The letter was dated 8 days after due date and arrived 15 days later. ( 23 days total after the due date. ) PennyMac provides incorrect statements, refuses to correct them or provide an explaination. They insist you wait till the following month 's statement ... while your account has a past due balance on it!! I feel they PennyMac is setting a stage to either collect fees or take our home of 15 years by intentionally keeping us in the dark. Even when I called and attempted to pay the DISPUTED amount, they refused by telling me my routing number was incorrect or I already made XXXX 's. payment. I filed written complaints and requested a detailed, complete accounting and explanation. I requested PennyMac either correct the account or prove where funds are past due. I also requested an accounting of the suspense account and how payments are applied. I have not received anything requested. I was told to call customer service since an explanation in writing was too complicated, which is unacceptable by any measure. I have copies of every single thing, so this complaint is valid. There are hundreds of substantiated complaints with the BBB and web about PennyMAC over this same issue. Why is n't something being done? Media? Steal our home of 15 yrs? USA!
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| 12/05/2019 |
Yes |
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- Trouble during payment process
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Web |
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I made my XX/XX/2019 mortgage payment on XX/XX/XXXX. PennyMac received my payment but on the same day tried to take out an additional unauthorized payment. I didnt have money ti cover the unauthorized 2nd payment so I got a text from my bank that I was over drawn. I contacted my bank to find out what was going on and they informed me about the 2nd unauthorized payment. I contacted PennyMac to try to find out why they were trying to take out a 2nd unauthorized. At first they said they didnt know what happened or where my original payment went. Then they admitted that there was some sort glitch in their system. They assured me it would be taken care and that my acct would be fixed within 5-7 business days. A few days later PennyMac attempted to take out the 2nd unauthorized payment again. I called them back, by now it was the 2nd week in XX/XX/XXXX. They again told me that they were working on the issue and that it would be fixed within another 5-7 business days. A few days later I got an automated call asking me to call Penny Mac so they can discuss my account. I called them and they wanted to know when I was going to make my XX/XX/XXXXpayment! I explain the whole thing to the person on the phone and they supposedly notated the account and assured me they were working on the problem And tell me not to worry about anything because this is happened to a bunch of people, but they were working on the problem. For the course of the next few weeks I continue to receive a letter and several phone calls wanting to know when I was going to make the XX/XX/XXXX payment. Each time I would call go through the whole thing again with the person on the phone and they would reassure me they were still continuing to work on the problem and not to worry about it and they would just need 5 to 7 business days. On XX/XX/XXXX the problem was still not resolved and I made another phone call to Penny Mac and requested to speak to a supervisor. I was passed off to a supervisor named XXXX XXXX at extension XXXX. He told me that in order for the account to be fixed more quickly that if I faxed them a copy of my bank statement showing where the payment had come out he could have the issue resolved within another 5 to 7 business days. I faxed my bank statement to him immediately to fax number XXXX. After not hearing back from him I called again on XX/XX/XXXX and spoke to XXXX at extension XXXX. She assured me that she spoke to XXXX and he said that he found my payment and that he would follow up with me on Friday. I have yet to hear back from him and today is XX/XX/XXXX. I left a message with him three days ago for him to call me as well as a message with XXXX to call me and still have not heard from them as of today. Ive spoken to so many people over the course of the last two months that have assured me things were being handled and that they were being fixed and at one point was even told that my account was in the current batch that was supposed to be fixed within the next 48 hours but that was over a month ago. I reluctantly made my XX/XX/XXXX payment on XX/XX/XXXX because I was trying to hold out until they fixed the payment for XX/XX/XXXX Now when I log into the system its telling me that I need to make my XX/XX/XXXXpayment. So that means when I made the XX/XX/XXXXpayment on XX/XX/XXXX it credited the XX/XX/XXXX payment that PennyMac seems to have lost! I feel like this is a complete misappropriation of funds. I dont understand why, here it is two months later and PennyMac has yet to credit my account properly for a payment that went through my bank on XX/XX/XXXX! And what makes things even worse is the fact that they have not even addressed this issue on their website in anyway. Why would they not even at least have the common decency to post something on the website stating what happened and how theyre trying to fix it?!
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| 02/18/2017 |
Yes |
- Mortgage
- Conventional fixed mortgage
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- Loan modification,collection,foreclosure
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Web |
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First started when when applied for a home mortgage in XX/XX/XXXX. Using XXXX of XXXX NJ. We were approved for a mortgage from XXXX of XXXX at 7.25 % We were told that our payment would about 2300 a month. We call mortgage company back and confirmed this price. Also was told that do n't worry about the percentage rate we will get you into something else. So we close on our existing home and rent back for about 3 weeks as the existing owners in our new home were unable to move to their residence until then. So Day of Closing comes and we have all the stuff in the moving truck, we go to the closing and while signing documents we see that our payment will be XXXX a month. XXXX more per month then we had ever budgeted for. Our Lawyer advises that we can halt the closing and figure something out. This was impossible as we were already packed and on the truck and closed on our home XXXX weeks before so we did not have anyplace to live. Only option was to continue on and hope payments could be made.
Now comes XX/XX/XXXX we finally are at the breaking point of our finances and we look for ways to lower the payment on our house. We see a commercial for a company called XXXX. We make an appointment and see them, So for XXXX dollars we guarantee that we can lower your payments. We ask ok if we pay you XXXX over time how do we make our mortgage payment. Told do n't worry if you ca n't make payments while we are negotiating at will be worked out in the deal. Ok so I think we make one more payment and forget it we ca n't do it with payments to them and mortgage, so we fallback on what they said and no longer make payments. Contact with XXXX goes on but seem to get less and less as time goes on. Finally phones stop being answered. We drive over to the office and it does not exist anymore. Come to find out a few days later then NY state attorney general has slapped XXXX with a cease and desist order and is investing them. Needless to say we never saw that XXXX again and the promised modification do n't know. Now we are almost a year behind in payments and there is no way to get out from under. Persons telling me that since I am a XXXX I can loose my job if we file bankruptcy. Finally around XX/XX/XXXX or so we give up ca n't do it. So we do an internet search for bankruptcy lawyers and find a company called XXXX. There site says no problem file bankruptcy and you can keep everything. So make an appointment the claim to be able to do all the stuff they said we will be out of the mortgage and we can still own our home and everything else. Ok send them money We start the process. Goes really slow, weeks go by and not much. Then here please pay us more money and go to the credit counseling site and watch the program. Again weeks go by and nothing, we call up again we are told well this is happening and your case has been transferred to another lawyer and such and oh by the way that counseling session you did is no longer valid so please pay again and do it again. This went on for a third time. Finally after wasting about a year or so we tell them that we are out and send us back our money. Nope sorry will send you back some but all the leg work we have done will cost. Got back XXXX out of XXXX. Now really do n't know what to do. XX/XX/XXXX comes along now the mortgage has changed to XXXX and then sold to Penny Mac. They start foreclosure processes on us. We retain a lawyer, He asks Penny Mac to allow us to enter into a state mediation program for modification. The mod that comes back please pay XXXX upfront and oh your payment will be higher then before. Cant happen. We finally get letters of sheriffs sale. Make one last push for modification and they tell us that there are no programs available for us. We and our lawyer are dumbfounded. We just want to stay in our home and make a payment we can afford
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| 12/12/2018 |
Yes |
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- Trouble during payment process
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Web |
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I received an escrow shortfall statement in XXXX from PennyMac, my mortgage company, stating that my escrow balance was short by {$440.00} and should be paid by XXXX XXXX. On XXXX XXXX I submitted via my bank account bill pay an escrow payment in the amount of {$450.00}, with a note that the payment was to be applied to escrow. The bank mistakenly applied the payment to my principal. In late XXXX I asked the mortgage company, via my electronic messaging account and a separate phone call, that the payment should be applied to my escrow and not to my principal, and that I wanted to make sure the escrow payment was properly credited so my account would not be penalized. I then paid the amount the mortgage company estimated I should pay if the escrow balance was paid in full ( XXXX ). In the meantime, I checked my account online and saw that the escrow balance was level and the payment had appeared to be corrected.
On XXXX XXXX, I received a letter from PennyMac dated XXXX XXXX and stating that I owed another {$37.00} on my mortgage payment, making the amount due the same ( XXXX ) as if I had not paid my escrow balance. On XXXX XXXX, I called PennyMac and was told that " the system '' had kicked out my escrow payment because it was more than the amount owed and that my payment would be increasing to {$1700.00} ( despite no notice of this new payment ) because the local property tax payment ( which was made while my escrow payment was mischaracterized as principal reduction ) further depleted my escrow account. When I asked how I could get the monthly mortgage payment down further, I was told I could submit a {$140.00} payment to escrow on the spot ( I said I could pay but would do it later ).
Referring to the XXXX XXXX letter, I asked if PennyMac would guarantee that I would not receive a late fee because I had paid my escrow payment and mortgage on time. I was told that that if I did not pay the {$37.00} PennyMac had requested in its XXXX XXXX letter ( which is in error because the total mortgage payment of {$1700.00} STILL assumes I did NOT pay the escrow balance ), I would be risking late fees and negative marks on my credit report, although I have paid all amounts on time.
I told the representative I would pay and then file this complaint with CFPB because I was tired of PennyMac claiming " the system '' had made mistakes but would take no responsibility for mischaracterizing my payment ; ( 2 ) I was tired of being made to feel I had erred when I sent in my escrow payment and that everything they did was a result of my error ; ( 3 ) that they could not backdate my account to show the escrow payment when it was actually made ; and ( 4 ) that I was at risk of further penalties when I had paid all amounts on time.
PennyMac refuses to properly credit my escrow payment, saying it can not backdate the payment, although it was made in advance of the XXXX XXXX due date. It also mistakenly requests additional funds for my mortgage payment, despite my paying the mortgage and escrow payments on time.
I request that that PennyMac : ( 1 ) properly credit the escrow payment to XXXX XXXX ; ( 2 ) adjust ALL payments and credits from XXXX XXXX to the present accordingly ; and ( 3 ) credit any overpayment of my mortgage to my principal.
I further request a written apology from PennyMac for the inconvenience they have imposed upon me despite my paying the mortgage and escrow shortfall on time. This chain of events is unacceptable. I have NEVER been late with my mortgage payments and it is ABSOLUTELY UNPROFESSIONAL that PennyMac would threaten me with late fees and negative credit marks when I am contacting THEM in an effort to correct my account. I DO NOT ACCEPT THIS UNPROFESSIONAL BEHAVIOR FROM PENNYMAC, and as a result of this, I can no longer trust PennyMac in my dealings with them.
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| 12/28/2021 |
Yes |
- Debt collection
- I do not know
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- Attempts to collect debt not owed
- Debt is not yours
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Web |
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XXXX and Complaint againsXXXX XXXX XXXX XXXX XXXX as alleged Trustee and payment processing Agent ( XXXX ) ; PennyMac Loan Servicing , LLC as alleged " Servicer '' and XXXX XXXX XXXX XXXX I found a document which looks like XXXX XXXX XXXX 's task log and an undercover mass laundering operation.
As you can see from the log, all servicing activities are performed by someone's employees per secured instructions from secured Message Centers which are obviously not controlled by PennyMac who does not perform ANY servicing functions.
In fact, PennyMac does not perform ANY activities except giving nods to use their name on the letterheads sent to me by XXXX XXXX 's or XXXX XXXX ' XXXX XXXX and XXXX who operate these " secured centers '' per XXXX XXXX Banks instructions.
Their XXXX companies have absolutely no contractual or other duty owed to the named Servicer or alleged owner. And the named beneficiary does NOT receive any of my payment from either the servicer or the XXXX companies. That is entirely fiction. AND that is why my every attempt to obtain corroboration through XXXX or XXXX is stonewalled. There is no corroboration.
Each my payment produces money proceeds that go into the pocket of an investment bank as either general revenue or return of capital against the fictitious double-entry bookkeeping account. In plain language, the money is NEVER used to reduce a loan account because there is no loan account. You can see if from the task log below.
The payment history is a report on a report prepared by an undisclosed XXXX company from data that has been massaged as instructed by an investment bank. It is NOT a simple report of the condition of the loan account. Want proof? Show me one payment history that contains the beginning entry starting the loan account and showing the current balance as owned by the named beneficiary. It doesnt exist. Show me one payment history that shows disbursement of funds received from anyone to any creditors. It doesnt exist.
This is how XXXX XXXX and XXXX XXXX 's money laundering scheme via XXXX companies works : My mortgage payments are processed by someone's employee XXXX XXXX via some XXXX XXXX XXXX XXXX XXXX in XXXX ( who of course never mentioned to me and never appear in any of my checks ) per instructions from secured messages from secured Message Center ( aka XXXX 's XXXX ).
" PennyMac '' robo-signer " XXXX '' is not even mentioned in this very detailed log even though he claimed to perform all research and that " PennyMac 's XXXX financial institution is XXXX XXXX XXXX XXXX
The real trace of my payments is as following : 1. I receive billing statements prepared by unknown to me parties and sent by likely XXXX XXXX, XXXX ( XXXX XXXX XXXX ) who instruct me to mail my payments to someone's XXXX XXXX XXXX XXXX XXXX.
2. My checks are picked by XXXX XXXX via XXXX who process my payments via XXXX XXXX XXXX, without any disclosures to me- even when requested by XXXX why XXXX performs servicing if another company claims to be a Servicer.
3. From XXXX XXXX XXXX my payments are converted into account of XXXX XXXX XXXX XXXX, Account ending XXXX, Routing Number XXXX, located in XXXX which is owned by unknown to me parties.
4. My payments do NOT result in reduction of my principal amount and do not fund my escrow account.
5. I do not know who is the owner of this account and who receive my money.
Who receives my payments? Why my payments do not reduce my principal amount and not credited to my escrow?
Where my escrow payments are coming from? Who owns the ledger and the account receivable where my payments are deposited?
Why this process looks more like money laundering from illegal drugs sales on the streets rather that a legitimate transaction backed by " full faith in American Government '' Regards XXXX XXXX
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| 09/22/2022 |
Yes |
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- Trouble during payment process
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Web |
Older American |
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Previous complaint XXXX Pennymac placed XXXX XX/XX/2022 mortgage payment towards principle. When I called Pennymac the first time, I was told I did not make my XXXX Mortgage payment. I then reviewed my XXXX Checking account ( Mortgage is setup via auto pay the XXXX of each month ) and verified the XXXX mortgage payment was posted and paid to PennyMac on XX/XX/2022. I then told this information to Pennymac and the account representative put me a hold to verify on the PennyMac end. The account representative then told me the XXXX payment was received and applied towards the principal and again request that I make my mortgage payment. The next day ( XX/XX/2022 ) I called PennyMac to verify the status of my Mortgage account and was told that XXXX Mortgage has not been paid. The representative ask me to pay {$50.00} for them to then submit a request to reverse the XX/XX/2022 payment from principle towards the XXXX Mortgage payment and they would waive the " late fee ''. I then explained to the representative that I have XXXX auto pay on the XXXX of each month and it was too late to change the XXXX Mortgage payment amount and I wanted to avoid going though this painful situation again. The representative told me to make a payment for {$100.00} which would be processed as {$50.00} towards XXXX Mortgage payment and {$50.00} towards XXXX Mortgage payment. I was then transfer to another employee to make the {$100.00} payment. When I was transferred the payment processing employee was rude. I again explained that the payment of {$100.00} was for XXXX and XXXX of {$50.00}. I was put on hold the representative agreed the payment would goes towards XXXX and XXXX. Later in the day ( XX/XX/2022 ) I received a call from a Pennymac employee regarding cfpb complaint XXXX. After an over 30 minute call with Pennymac, we did not agree as Pennymac is a debt collector also operating as a mortgage company. They don't value customer relationships as I have always paid my morgage on time they should have an exception process when payment history is stellar and they changed the Mortgage amount as appose to treating the customer without respect or trust. Finally, before ending the call, I again explained ( this is Pennymac person number 3 ) the situation regarding the XX/XX/2022 mortgage payment that auto pays the mortgage on the XXXX. The XXXX payment amount will be short by {$50.00} but the shortage was already paid to Pennymac earlier in the day. The Pennymac person told me he would personally make sure the XXXX payment would be applied to XXXX Mortgage payment with the already paid shortage amount of {$50.00}. Today, XX/XX/2022, I check my XXXX checking account and verified the XXXX Mortgage payment posted and paid out to Pennymac. I called Pennymac today to get XXXX mortgage payment status and was told, " the payment is applied to principle ''. After talking to 3 Pennymac employees about XXXX mortgage payment, Pennymac has again not properly applied my monthly mortgage payment. I do not trust Pennymac. There customer relationship is all centric towards debt collection. They should not be both a debt collection and mortgage company as practices are very different between the two. Pennymac must process my XX/XX/2022 mortgage payment immediately as they have the full payment from me today XX/XX/2022. This is terrible that I have to take so mush time out of my day to talk to Pennymac and file these complains. Nothing has been resolve, Pennymac treats you with no respect. They have representative that demand payment without proper investigation, they have representatives that have attitudes, they have representatives that tell you action they will take with no action. It is terrible to explain the same thing to 3 different representatives and reach agreement, only to NOT honor the agreed commitment.
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| 05/29/2016 |
Yes |
- Mortgage
- Conventional adjustable mortgage (ARM)
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- Loan modification,collection,foreclosure
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Web |
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I have been struggling to pay my mortgage for some time. In XXXX XXXX the servicer of my loan, XXXX, informed me my loan was now owned and serviced by PennyMac. I have long disputed the ownership of my loan which originated with XXXX XXXX and do not believe that XXXX either owned my loan or had the right to sell it.
Nonetheless it is my desire to modify my loan and retain my home. PennyMac informed me in writing of their intent to foreclose via a letter dated XXXX/XXXX/XXXX. The letter indicated " The debt referred to in the proceeding Notice of Intention to Foreclose evidenced by the copy of the Mortgage and Note, will be assumed valid by the creditor, unless debtors, within thirty ( 30 ) days after the receipt of this Notice, disputes, in writing, the validity of the debt or some portion thereof. '' On XXXX/XXXX/XXXX I sent a letter via Certified and regular XXXX stating that " I dispute this debt in its entirety and therefore submit this written request for both a copy of the above-referenced Mortgage and Note along with any and all additional information alleged or implied to support the validity of the debt, your ability to collect this debt, your ability to enforce this Note and Mortgage, and request that a copy of all materials be mailed to me ( my home address ) '' To date I have not received any response.
On XXXX/XXXX/XXXX my attorney sent a similar letter stating " we received a copy of your Fair Debt Collection Practices Act Notice. Please accept this correspondence as our " dispute '' of several items set forth in that Notice.
Specifically, paragraph XXXX of your Notice indicates " the debt described in the complaint is hereby attached hereto and evidenced by the copy of the mortgage note ... ''. However, no such copy of the note is attached to your notice, and we are therefore disputing the validity of the debt on that basis. We are also disputing your right to enforce on your client 's behalf, that note as well as the mortgage described in your complaint.
Pursuant to paragraph XXXX of your Notice, please accept this correspondence as our demand that you " obtain verification of the debt '' and " provide a copy of the verification '' within the time frame set forth by the Fair Debt Collection Practices Act. Such verification may be mailed to me on Defendant 's behalf.
Please provide the " name of address of the original creditor '' since your client, Pennymac XXXX is not that " original creditor, '' as set forth in paragraph XXXX of your Notice.
Please also provide a statement of the amount of the debt which you seek to recover, describing with particularity which portion of this alleged debt represents principal, interest, attorney 's fees, inspection fees, costs advanced such as cost for title work, or such other expenses to which you may attribute this alleged debt.
Finally, please note my client directed several correspondences to your firm dated XXXX XXXX, XXXX by which she exercised her rights under the FDCPA and requested the same " verifications '' described above. Copies of these letters are attached, and to date, my client has received no response. Therefore, your firm has already violated the FDCPA, and we may take whatever action is necessary to protect our client 's rights based upon these failures.
This demand is made pursuant to both the Federal Fair Debt Collection Practices Act 15, U.S.C. 1692, and the New Jersey Fair Debt Practices Act XXXX. XXXX.
To date I have not received any response, nor has my attorney.
I am now faced with a trial loan modification offer which does not state the $ amount of the debt, the term of the loan, the late fees, any extra charges or any information XXXX might expect in a mortgage document or loan modification.
Efforts to obtain this information in writing have been futile.
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| 02/29/2016 |
Yes |
- Mortgage
- Conventional fixed mortgage
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- Loan modification,collection,foreclosure
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Web |
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PennyMac XXXX ( PennyMac ) and it 's trustee, XXXX XXXX XXXX XXXX, purportedly went forward with an unlawful/illegal sale on XXXX/XXXX/XXXX and an ongoing eviction attempt since XXXX/XXXX/XXXX, after failing to verify the purported debt and ignoring National Mortgage Settlement requirements, CA Homeowner Bill of Rights violations by XXXX XXXX Bank XXXX. XXXX XXXX XXXX along with probable fraud, false claims and other deceptive practices and crimes. The documentation provided by PennyMac and foreclosure documents filed can not be accepted as reliable evidence of a valid transaction or a verification of debt. PennyMac must be considered unlawful and stopped from committing theft of my property and violating my rights with an illegal eviction, on XXXX/XXXX/XXXX.
XXXX and PennyMac violated the CA Homeowner Bill of Rights by not assuring the NOD ( and NTS, assignments and substitution of trustee ) are " accurate and complete and supported by competent and reliable evidence '' ( XXXX ( a ) ), and after substantiating borrower 's default and servicer 's right to foreclose. XXXX XXXX b ). They violated the National Mortgage Settlement guidelines XXXX, p. XXXX.
The fraudulent or unreliable evidence includes notices for a DIFFERENT PROPERTY submitted to unlawful detainer court, claim loan is a Fannie Mae loan and a Truth In Lending statement that refers to property with different address and as single family home instead of a duplex.
Neither XXXX or PennyMac Loan Services LLC, the purported servicer for PennyMac, implemented processes ensuring their documented authority to foreclose per XXXX XXXX, XXXX XXXX.
PennyMac failed to vacate the Truth In Lending Act rescission in effect XXXX/XXXX/XXXX and illegally sold the property on the invalid basis of a void note and could not claim perfected title. They also could not claim duly perfected title with their failure to reliably document their authority to foreclose under CC XXXX XXXX a ) ( XXXX ). PennyMac answered a verification of debt request with documents mailed in XXXX XXXX but their documentation failed to confirm the debt and raises issues of fraud, failing to confirm their authority to foreclose and standing. Their documentation included a Truth In Lending statement with a different originator, XXXX 's XXXX XXXX, which differed from XXXX Mortgage, which was reported to the XXXX, and XXXX Bank XXXX XXXX. which was listed on original TIL statement and promissory note. PennyMac reported an even higher predatory rate of 12 % and a different payment for an ARM loan instead of the fixed rate of the purported loan I was assured would not have any " toxic '' issues due to the ongoing crisis. Also included was a loan history that reflects XXXX as the investor only since XXXX. XXXX claimed to be the investor since XXXX. I was assured the loan was originally a " XXXX '' loan since origination purportedly by XXXX 's XXXX XXXX XXXX, with XXXX Bank XXXX XXXX, as the original lender on the note and per my understanding of " XXXX ''. I struggled from the first payment due to the crisis, in XXXX, XXXX, and made XXXX payments for nearly {$17000.00} on 11 % rate, predatory, higher than the previous loan, with the understanding " XXXX '' would change the loan, pre HAMP.
The Truth In Lending statement provided by PennyMac as verification of debt not only has different terms but it does not accurately reflect the property address. Instead of XXXX XXXX XXXX XXXX XXXX it lists the property as XXXX XXXX XXXX XXXX XXXX This misrepresentation raises questions as to fraud and the city actions on the property based on corrupted property data. Either this reflects a complete breakdown in the processes by XXXX, PennyMac and the city or intent to evade law by XXXX/PennyMac and/or not enforce the law to do me harm with malice. see XXXX
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| 10/19/2016 |
Yes |
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- Settlement process and costs
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Web |
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Nearly 10 years ago, even though scared, i was convinced to buy my first home under the XXXX, first time homebuyer 's, down payment assistance program. This program is offered throught the XXXX XXXX XXXX. After selecting a home I was interested in and it passed the FHA housing inspection, I went through with the purchase. The transfer and/orclosing, through XXXX XXXX XXXX, went pretty Smoothly, so I thought. The original mortgage was set up through XXXX mortgage, who is no longer in business that Im aware of. They went out of business shortly after I purchase the home. My mortgage turned over to XXXX. XXXX was my mortgage company for 2 to 3 years before they went under. My mortgage was transferred over to XXXX XXXX XXXX. My mortgage stayed with them for 5 or 6 years. Throughout all the transitions of my mortgage I was never late or missed a payment. My mortgage loan was set up where my mortgage holder pays my property taxes and homeowners insurance and I pay them one lump monthly sum. Everything seemed to be going smooth, until I was notified of some devastating, unforeseen and unheard of news. I found out that my home was in foreclosure through the State of Washington and had been in foreclosure for quite a while. There was a lien placed on the deed to my house that I was also unaware of. I immediately contacted my mortgage holder, XXXX to find out some answers. They too were completely unaware of the Foreclosure too. They informed me that they could not help me because they never received any tax statements on that Parcel from the Dept. Of Treasury. I was unaware completely of this because I did not received any yearly tax statements in prior years. My guess as to why I never received any previous tax statements for the 2nd parcel was because they were possibly being mailed to XXXX XXXX XXXX, which Is not the same address as the primary Parcel number 's address, nor did that address exist to the USPS. My guess is the yearly tax ststements and Forclosure letters were being mailed to an address that did not exist and returned by the USPS. Ive recently discovered the second parcel associated with my house was once an alleyway that was abandoned 60+ years ago. My house just happened to be selected to take over that abandoned alleyway Parcel. Ive contacted everybody/entiry I could who was involved in the purchase/transaction of this house, to find out exactly where things went wrong and try to find assistance in fixing the situation is was in. The Department of Treasury, The State of Washington, XXXX XXXX XXXX and XXXX XXXX XXXX XXXX, were all pointing their fingers in other directions. This left me in a bad situation where I was left with no other choice but to come up with the funding on my own and get my home out of foreclosure on my own, so I would n't lose it. This was not easy being a single mother on a single income. I still owe many for helping me financially. I have also became a victim of XXXX, after a divorce from a 12 year marriage/relationship. Once ai accumulated enought to be able to keep my home and get it out of Foreclosure, I questioned on future payments to XXXX XXXX XXXX. I wanted to get everything corrected, so that they would start paying the taxes on that second parcel. They instructed my that I would need to refinance in order to add the second Parcel onto the deed, which would allow them to receive yearly tax statements from the department of treasury. Now that I have refinanced, my mortgage was sent over to Pennymac mortgage. mortgage, who is my current mortgage holder. Recently, I 've learned, through an attorney that a refinance did not need to happen to have that Parcel added to the Deed. I also discovered in the last few days, from XXXX XXXX ( City of XXXX Auditor ), that even after the refinance, the 2nd parcel is missing.
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| 04/13/2016 |
Yes |
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- Loan modification,collection,foreclosure
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Web |
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Penny Mac XXXX/XXXX/XXXX - Initial modification application submitted on XXXX/XXXX/XXXX XXXX/XXXX/XXXX - Document request received XXXX/XXXX/XXXX - Documents submitted via fax XXXX/XXXX/XXXX - Called PennyMac to follow up on file - left voicemail with SPOC XXXX XXXX XXXX/XXXX/XXXX - Called PennyMac to follow up on file - SPOC not available so I routed to another agent. No TPA on file. SPOC not available. Agent, XXXX, put in an escalation ticket since no call back from SPOC and TPA was not imaged in the system.
XXXX/XXXX/XXXX - Called PennyMac to follow up on file - SPOC not available so I routed to another agent. Spoke with XXXX who stated XXXX was still not on file. I asked for a supervisor and was connected with XXXX. Was told the TPA was submitted to the wrong number and that they discarded the TPA and we would need to resubmit. I faxed TPA to number given by supervisor.
XXXX/XXXX/XXXX - Servicer called and spoke to XXXX. They told her that XXXX 's signature does not match what they have on file so we will need to resubmit.
XXXX/XXXX/XXXX - Resubmitted TPA via fax. I also emailed to SPOC/underwriter assigned XXXX XXXX.
XXXX/XXXX/XXXX - Document request received XXXX/XXXX/XXXX - Faxed in XXXX page document request to servicer XXXX/XXXX/XXXX -- Called PennyMac to follow up on file - XXXX XXXX did not answer so I left a voicemail with all my info XXXX/XXXX/XXXX -- Called PennyMac to follow up on file - XXXX XXXX did not answer so I routed to XXXX to get an update. He found the TPA. He stated all items were in at that time.
XXXX/XXXX/XXXX -- Called PennyMac to follow up on file - XXXX XXXX did not answer so I routed to XXXX to get an update. I was told that the application was denied and that XXXX would receive a call tomorrow to go over the denial. I spoke with XXXX XXXX who stated that they were offering a repayment plan. He stated the SPOC was XXXX XXXX and that XXXX would call me since a repayment plan is not affordable.
XXXX/XXXX/XXXX -- Called PennyMac to follow up on file - XXXX XXXX was not in yet. Call was disconnected. XXXX/XXXX/XXXX -- Called PennyMac to follow up on file - XXXX XXXX stated that XXXX 's income was calculated at over {$7000.00} per month. I told him that was incorrect and we went over her actual income which was around {$3400.00} gross. He asked for updated financials to do a secondary review. These were sent to him via email.
XXXX/XXXX/XXXX - Additional supporting financial statements were submitted to XXXX via email XXXX/XXXX/XXXX -- Called PennyMac to follow up on file - XXXX XXXX stated that he sent these to the underwriter however she has not reviewed these yet. He is going to send another email including the underwriter 's manager to push the review.
XXXX/XXXX/XXXX -- Called PennyMac to follow up on file - XXXX XXXX stated that he emailed the rep about the secondary review request. XXXX XXXX is set to review the file.XX/XX/XXXX -- Called XXXX XXXX and left a voicemail asking to touch base on the review. I also gave XXXX 's new phone number and asked her to call her as well.
XXXX/XXXX/XXXX -- Called PennyMac to follow up on file - XXXX XXXX did not answer. I called and back and was unable to reach XXXX XXXX. I routed to XXXX. She said that the file is under review with XXXX. She also stated that the second look mod department is not picking up the file for review. She told me that XXXX sent emails asking for the review on XXXX, XXXX and XXXX without any response. I asked for XXXX 's supervisor. His supervisor, XXXX, was not in however I left a voicemail asking for a call back ASAP.XX/XX/XXXX -- Called PennyMac to follow up on file - XXXX XXXX did not answer. I have filed loan modification for the 4th time as of XXXX/XXXX/XXXX still have not received an answer for loan modification. This is an XXXX loan.
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| 04/29/2023 |
Yes |
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- Struggling to pay mortgage
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Web |
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I am shocked and disappointed at the way my mortgage company Pennymac has handled our FHA mortgage loan. Our family has suffered major health issues and have communicated and continued making payments as best we could to Pennymac who was happy to accept them. Now that we are back on our feet Pennymac is refusing to accept the mortgage payments and has started the foreclosure process. They are sending back our payments and setting us up to lose our home, even though our hardship is over and we can make our mortgage payment. Pennymac is telling us the only option is to pay back {$18000.00} in late payments and interest and legal fees in one lump sum payment and we can't do this. This is an avoidable foreclosure if Pennymac allowed us to be considered for FHA homeowner assistance programs. that Pennymac took this major step against us without ever offering any options to be considered for homeowner assistance programs. Pennymac was well aware of the health issues and I never avoided communicating or trying to pay my mortgage. During our struggles and conversations with Pennymac we were never told that there were government programs available for distressed homeowners to get caught up on their mortgage such as loan modification, loan restructure, forbearance or repayment plans. We have never been considered for any of these programs and instead of trying to work things out with us Pennymac is trying to take our house. We are back on our feet financially and can afford the mortgage payment, the issue is that we do not have the full past due amount to pay in one lump sum.
Shortly after buying our home I was diagnosed with XXXX and went into hospital because of the pain and had my XXXX XXXX XXXX and went on short term XXXX. I was still sick and in pain and the doctors were not sure what was wrong with me. My employer notified me that short term XXXX was ending in XXXX and I was still too sick to go back to work. I did not want to be fired from my job so I resigned so I could focus on getting healthy. The doctor did an XXXX and realized that a XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX After figuring out the problem the doctor was able to prescribe medicine to treat the condition and manage the pain. Because I was out of work we did not have funds for the payment and I contacted Pennymac in XXXX to explain the situation. No one discussed a forbearance or modification or unemployment programs at that time that could have helped me fix this.
In XXXX we made a partial payment of {$800.00} to Pennymac which they accepted. I spoke with an agent on the phone who told me that we would need to make two consecutive payments of {$2000.00} in order to get back into good standing. Again there was no discussion of any type of government program to help us deal with this situation even we understand that Pennymac is required to make these options available. I was still sick and had picked up some part time work but we could not make the two payments of {$2000.00} and fell further behind. I was able to get my old job back at XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX in late XXXX. My partner XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX His job and income are steady. Once I started receiving my regular paycheck again we immediately tried to resolve things with Pennymac and made a {$2300.00} payment in XXXX. However when we tried to make payments in XXXX and XXXX they returned the money back to us and told us that we were going into foreclosure. This is an avoidable foreclosure. Our hardship is over and we have enough income to afford a reasonable mortgage payment. We understand that Pennymac is required to provide options for us to cure the delinquent amounts through other means than full reinstatement in one lump sum.
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| 08/27/2015 |
Yes |
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- Loan modification,collection,foreclosure
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Web |
Servicemember |
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We were scammed by XXXX companies and then our home went to auction and sold to the XXXX XXXX who know that we were scammed, XXXX and my husband is waiting XXXX on a job XXXX.
XXXX XXXX, Below is an email from XXXX XXXX will be calling you todayThe average time for completion of the modification is about 90 days. Butyour case is complicated and special do to the special circumstances. Itcould take as little as month or as long as XXXX months, or longer ; there areseveral factors out of our control that may drag out the process includingthe amount of time it takes your lender to process your application andfinancial paperwork, and to verify all of your documentation. Factoringin these strategic delays by your lender, XXXX months is a reasonablelevel of expectation XXXX times out of XXXX.
You have hired our firm to successfully complete the process of obtaining aworkout plan for you with your lender. We have been helping clients withloss mitigation options for over XXXX years and we are experienced with yourlender*Let us handle this process for you! *Since you have granted us permission to advocate on your behalf, we askthat from this point forward to please allow *ONLY* our firm to communicateon your behalf on all matters pertaining to your mortgage loan.
It is *VERY IMPORTANT* that you talk to us *before* disclosing, speaking or sending any information to your lender. This includes EVERYTHING and ANYTHING. If they call you, you can kindly tell them to contact us for any information they may need and hang up the phone.
As you probably know, the longer you stay on the phone with them the morethey will try to intimidate you. This is nothing personal as they are paidbill collectors and will do and say anything allowed by law ( actually, theyusually go above and beyond since most people dont know any better= ) to try to intimidate you into making payments or disclosing information that could negatively affect your outcome. Again, banks are in the business of making money not helping you out financially. *You do not need to listen = to their threats and are encouraged to disconnect the call or allow it to go to voice mail if they are doing so**. *If your lender sends you letters or packets in the mail to fill out, *please inform us immediately*! You will need to check with us before returning anything to your lender, as this could possibly jeopardize current/future negotiations. *We have an effective and carefully planned strategy to assist you and anything you say to the lender can and will be used against you by them. You will begin the first phase of the process as described below : *Phase 1 Initialization, Origination and Strategic Development Services* Drafting and preparation of documents including CLIENT ServiceAgreementCLIENT Interview, Financial Disposition Review, QualificationAnalysis, File OriginationLetter of Authorization, Hardship Worksheet, CLIENT Disclosures, and CLIENT Declarations Attorney or Authorized Legal Support Staff/CLIENT conference calland ConsultationSubmission of Letter of Authorization to Lender ( s ) Confirmation of Lender receipt of Letter of AuthorizationLender research, including communicating with Lender todetermine/verify submission requirements for loan modificationUnderwriting of case file based on Lender specific guidelines.
Initial collection, review, analysis, and evaluation of CLIENTdocuments and information, including, but not limited to, income, loanbalance, monthly payment amount, mortgage statements, loan documents, current interest rate, expected rate and payment adjustment, equity, expected rate and payment adjustment, equity, loan payment history, correspondence from Lender, pay stubs, XXXX, XXXX, XXXX, benefits award letters, retirement and pension benefits statements, annuity statement
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| 11/03/2016 |
Yes |
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- Loan servicing, payments, escrow account
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Web |
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PLEASE NOTE THIS LETTER HAS TAKEN LOTS OF MY TIME AND RESEARCH TO HAVE THE MOST INFORMATION POSSIBLE TO YOU.
I bought a home from XXXX Mortgage and closed my loan XX/XX/XXXX they sold my loan 16 days later to Penny Mac loan services without letting me know. I was new with the mortgage thing and I did n't know who my lender was since I had used the lender of the company selling the new homes with pardee homes. My home was delivered XX/XX/XXXX I got a bill in the main and paid it. Till XX/XX/XXXX when I paid a partial payment because I became sick and was n't able to pay my mortgage. So monthly I would buy a cashier 's check to pay my mortgage and would hand write the amount not knowing they were charging me XXXX plus starting XX/XX/XXXX I do n't know why my bills were charged differently I made my payments to my mortgage up until XX/XX/XXXX when I became late. I had a credit of {$260.00} for XX/XX/XXXX based on the payments I made. there was XXXX nsf checks in the time I had the account because they would charge before the due date and then I when I found out they did this to me 2 times I just sent certified funds to the account purchasing cashier 's checks. The following are the payment history to show you I was current on my payments and they are not correct the way there billing is being used.
PAYMENTS PENNY MAC Payment date paid amount XX/XX/XXXX - XX/XX/XXXX {$1600.00} XX/XX/XXXX XX/XX/XXXX {$1600.00} XX/XX/XXXX XX/XX/XXXX {$1600.00} XX/XX/XXXX XX/XX/XXXX {$1600.00} XX/XX/XXXX XX/XX/XXXX {$1600.00} XX/XX/XXXX XXXX {$1600.00} XXXX XX/XX/XXXX {$1600.00} XX/XX/XXXX XX/XX/XXXX {$1600.00} XX/XX/XXXX XX/XX/XXXX {$1600.00} XXXX XXXX XXXX {$1700.00} XX/XX/XXXX XX/XX/XXXX {$630.00} XX/XX/XXXX covered rest of this month XX/XX/XXXX XX/XX/XXXX {$1300.00} ( credit for XX/XX/XXXX 260.77 ) XX/XX/XXXX covered the balance XXXX paid from XX/XX/XXXX payment XXXX XX/XX/XXXX {$1600.00} out of the payment of XX/XX/XXXX XX/XX/XXXX XX/XX/XXXX {$1600.00} out of the payment of XX/XX/XXXX XX/XX/XXXX XX/XX/XXXX {$250.00} balance out of the payment of XXXX XXXX XXXX XXXX {$5000.00} which covered payments up to partial XX/XX/XXXX These payments were confirmed on the phone received by the lender today attached is what is also on their system. I called 2 times trying to make a payment before the 6 month time period to make a payment and they refused to take my payment from me. In good faith I have been trying to pay and be current and they refuse to take my payments. so I got a bill for XX/XX/XXXX that I owe {$10000.00} but in fact it was {$8000.00} now this month is XXXX plus dlls and they have not done anything to my deed to the house at the clerk 's office and I also asked for a loan modification which they said they would mail and they did n't do that never did I receive such package. WHEN I CAREFULLY INSPECTED MY DEED PAPERWORK ON THE RECORDERS OFFICE THEY WERE NOT THE ASSIGNE ON MY LOAN. When I asked penny mac who they were they said they were the ones who loaned me the money and by further inspection of my emails and calls I called the office were my loan was originated XXXX mortgage and I asked them who was penny mac loan services. XXXX said to me they are the bank who we sold your loan to and I told them why had they not notified me and they said they mailed the letter but the thing is this is a new home so I had to wait for the post office to give me a key for the mailbox and I did n't get it the keys till the end of XX/XX/XXXX. So I never got any letter the only thing I got was the bill from penny mac saying my payments would start XX/XX/XXXX which was at the end of XX/XX/XXXX I was never informed until XX/XX/XXXX via email by a XXXX XXXX at their Utah office for XXXX mortgage that she also mentioned I had a XXXX balance on my loan attached are t
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| 10/23/2018 |
Yes |
- Debt collection
- Mortgage debt
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- Attempts to collect debt not owed
- Debt was paid
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Web |
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i, a woman in flesh and blood purchased a home on XX/XX/2018 in XXXX XXXX NV. The original lender was XXXX XXXX XXXX XXXX whom was paid in full. On or about XX/XX/2018 approximately three months later a new company came on the scene requesting payments for a debt. That company name is XXXX XXXX XXXX located in California. Since the inception of the purchase the questions where asked as follows ; " Have you receive full payment and compensation as agreed upon between buyer XXXX XXXX XXXX and lender XXXX XXXX XXXX XXXX? '' That answer was yes. The next question that was asked, then where is the proof of payment received type of currency needed and on what date. That question was not answered. On or about XX/XX/2018 i received a letter from a company located in XXXX XXXX CA stating that they where the new lender of my alleged mortgage. i responded immediately asking them to validate and varify the alleged mortgage note and or security. i asked how did you become the lender when i never met with anyone from XXXX XXXX XXXX nor with XXXX XXXX a none profit corporation whom came on the scene around XX/XX/2018 claiming they too where the original lender. i responded the same with " please provide any and all communications in person with anyone living in flesh and blood of the same kind that alleges this debt. The persons addressed are the CEO 's of both XXXX XXXX and XXXX XXXX XXXX, they the CEO 's never responded. Rather a letter from XXXX XXXX XXXX named XXXX XXXX, and a XXXX XXXX from the same Research Department PennyMac Loan Services, LLC from the " Research Department PennyMac Loan Services, LLC '' stating that they are both the lender and the servicer. As well they made changes to their claims stating that XXXXXXXX XXXX is the lender, when all of this is false. The lender was and only XXXX XXXX XXXX XXXX located in XXXX NV. They failed to answer the letters in a timely manner. i personally mailed them notification that the debt was being disputed due to the new and false information regarding my purchased home. Each time they would continue to send letters well after i mailed a cease and desist notice to them on XXXX showing that the debt was being disputed due to false information, lack of accurate information and the history tied thereto the purchase. i have yet to receive any response from the CEO 's of all companies involved as well from the CEO of the true and original lender whom was paid that being XXXX XXXX XXXX XXXX. They continue XXXX XXXX XXXX and XXXX XXXX through Penny Mac insisting that a debt is owed without proof, wet signatures and verification and validation. Such is fraud, extortion, harassment, slander defamation and libel. Now the facts remain un-rebutted such as, verification and validation of the alleged debt, failure to respond by the CEO 's whom the letters where addressed thereto, and not any other. No wet signature produce, and upon the documents presented by Penny Mac and XXXX XXXX have issues that should have been corrected before this time of the complaint filed here and now. Also they failed to state who is XXXX XXXX and why the name change? They failed to prove that a debt exist and any use of XXXX XXXX XXXX be it lower case and or all capital is copyright infringement and an attempt to create a dead corporation in my name without my consent or knowledge of such. The signatures do not match that of XXXX XXXX XXXX please Cc the Certificate Of Administrative Judgement via USPS registered mail. For all other questions comments and concerns please see the attachments hereto this complaint. Also the language within the produced alleged mortgage agreement is not in english, does not make sense, unclear, and has multiple issues that needed to have been corrected before now, and they have failed to do so.
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| 11/02/2023 |
Yes |
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- Struggling to pay mortgage
- An existing modification, forbearance plan, short sale, or other loss mitigation relief
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Web |
Servicemember |
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During my financial hardship, I figured I could count on my mortgage company to support me. Instead of showing support, they put me in a worse position than I was before. I contacted them for a COVID forbearance XX/XX/2022. At the time, they were willing to help and put me in the right direction. They told me they could assist me due to my wifes loss of income during COVID. They told me they had two options that I could choose from that will allow me to be in a better financial state and that my interest rate of XXXX percent should not change.
After the forbearance was over, they then told me that the only option I had was to either pay back the months that I owe in a balloon payment, or they can add it on the end of the loan. After they reached out to the VA and finalized the loan, they had added months on to my loan ( XXXX ) months and they changed my interest rate to 6.6 %. Instead of helping, this took my mortgage rate from being affordable to being a nightmare for an XXXX XXXX servicemember with a family of XXXX.
They sent me paperwork regarding the new terms that had a one-time payment of {$3100.00} for the first month and a payment of {$2600.00} monthly for the duration of the loan. Additionally, they put a total of {$44000.00} in a junior XXXX mortgage. When I brought up the XXXX different payment amounts, they told me on the phone that I was reading it right with the first month payment of {$3100.00} and the rest of the payments would be {$2600.00}. Since we thought it was an increase of less than {$200.00} from our original mortgage payment of {$2400.00}, we went to get it notarized. None of this helped my family situation and we are not okay with the predatory nature in how PennyMac treats its customers. Over the course of this incident the following things happened that PennyMac viewed as helping my family.
Interest rate changed from 2.85 % to % 6.6 % They put a second mortgage on my loan that must be paid off when I refinance for {$44000.00}.
Said that my new payment was going to be {$2600.00} but it ended up being {$3100.00}.
Have less money going towards my principal balance.
Overall, increased my mortgage by XXXX years and made my payment {$700.00} extra a month.
This put me in a situation that as I was catching up, the new payment became a problem once I had flooding at my house while I was on XXXX and my XXXX was here with our XXXX children, including a newborn. We cleared out our savings to pay for the flooding. I reached out to PennyMac, and they told me that the only assistance they would be able to provide with the XXXX missed mortgage payments is let me pay it over XXXX months at {$4500.00} a month while they still report negative on my credit report. They are not looking to help and does not have the best interest of the client.
Overall, in the past XXXX months, my monthly payment has increased {$2000.00}. I dont feel that I had a fair shake and that PennyMac effectively put everything that was available to me out there for me to decide. Now Im stuck without any hope in sight.
They recommended California Mortgage Relief to me. I reached out to them and they said that PennyMac has a reputation of telling their customers about them after they have already gotten them to agree to terms where they can increase their interest rates and keep them as customers for a longer period of time with a new higher interest rate. I still submitted to application to California Mortgage Relief and they told me if I would have made the payment then I would have qualified. I spoke with PennyMac and they told me that if the payment wasn't made, my family home would've been foreclosed on. I had no choice but to continue to struggle and attempt to make the payment prior to XXXX. When will this nightmare be over?
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| 12/31/2015 |
Yes |
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- Loan servicing, payments, escrow account
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Web |
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I sold my house on XXXX/XXXX/XXXX. Just a few days before I sold it my loan company, Penny Mac, paid {$2500.00} to XXXX XXXX for my taxes. At closing, because XXXX had not received the payment to process it I had to pay the balance again. I spoke to Penny Mac several times about how to get the refund back to me and was told that once the overpay is realized by the third party - XXXX - they would send it to Penny Mac and then Penny Mac would send it to me. I spoke to XXXX XXXX ext. XXXX XXXX on XXXX/XXXX/XXXX, he confirmed that the refund was sent to XXXX and said he would have to expedite my account because he was n't sure why it had not been sent back to Penny Mac. He said he would personally follow up with me within 10 days, I still have not heard from him. I called again on XXXX/XXXX/XXXX and spoke to XXXX XXXX ext. XXXX ) who said that she needed to expedite my case again and she would get the check XXXX to me in a few days. She said she would call me when it is sent but I never heard back from her.
I called today XXXX/XXXX/XXXX and spoke to XXXX who could n't even find my account. After several minutes she cold dropped me to XXXX who put me on hold for a very long time before dropping me on to XXXX. XXXX was the first person I spoke to who attempted to help me but she could n't. SHe said that she didnt show the money being refunded at all! Of course I freaked out about that and she the cold dropped me onto XXXX who said she is a supervisor.
XXXX stated that the funds were deposited with XXXX on XXXX/XXXX/XXXX. I explained to her that XXXX told me it was XXXX/XXXX/XXXX but she said it was n't. She then said the refund check was very large and included many customers so I would have to wait for them to get to me. She said although my loan was paid off on XXXX XXXX, XXXX, the money was not in my escrow that day so the 30 days they have to refund my money will not begin until XXXX refunds the money back to Penny Mac. She is not sure how long that will take. She said she will call XXXX and call me back today. She called back around XXXX and said she spoke to XXXX and they told her that the check was for multiple mortgage companies and it could take 8-10 weeks for the check to get to Penny Mac. After Penny Mac receives it XXXX says that they have 30 days to get it to me. SO she is saying that it could take almost 6 months for them to refund my money! I asked her if they are legally allowed to do that and she said there is no regulatory time that they have to get it back to me!
She then said she was going to request that her " executives '' allow her to do a " corporate advance '' to see if she can get the funds to me before then but requesting a corporate advance could take 2 weeks or more. I am not holding my breath for that XXXX. She said she will call me on XXXX XXXX, XXXX to give me an update.
TimeLine - XXXX XXXX, XXXX - sold home XXXX XXXX, XXXX - Penny Mac loan paid XXXX XXXX, XXXX - {$2500.00} received by XXXX XXXX XXXX, XXXX - I spoke to XXXX who gave me the XXXX above dates and said he would escalate my case to get my refund to me and he would call me back in 10 days.
XXXX XXXX, XXXX - after not hearing back from XXXX I called and spoke to XXXX who told me the same thing as XXXX and said she was going to escalate. She called me back the following day to say that she was going to have a check XXXX to me and would call to let me know when. She said it should only be a few days.
XXXX XXXX - I spoke to multiple people ending with XXXX who told me the entire process takes about 6 months and no law regulates them to do it faster. She said she would try to get it to me sooner.
These folks have {$2500.00} of my money that need. I can not believe that they are allowed to hold it as long as they want. It is ridiculous.
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| 11/19/2015 |
Yes |
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- Disclosure verification of debt
- Not given enough info to verify debt
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Web |
Older American, Servicemember |
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Multiple violations of Truth in Lending Acts. PennyMac has NEVER provided information to verify who owns the debt and if the debt was actually being paid.
PennyMac fails to provide the name of any secured parties of interest ( i.e. real party of interest, creditor ), nor do they reveal or provide evidence, proving the original 'lender ' had been shut down XX/XX/XXXX.
PennyMac has stalled, and avoided making corrections to this problem, making unnecessary excuses to ignore or work out a solution that would be reasonable for all parties stipulate to an agreement. PennyMac 's disingenuous misconduct led to concealment of pertinent information which may prove a nonexistence of debt and real party of interest ( " Ownership '' ). Having reviewed this case, there has been consistent delay tactics from PennyMac avoiding the obvious required discovery that could indicate an absence of a secured creditor which had no authority, or consent to foreclosed on a property which they knew, or should have known that they did not have any legal right or claim to execute a legal foreclosure.
PennyMac has uttered fraudulent documents to misrepresent a false collection of debt they are not entitled to. It is a violation of 15 U.S. Code 1692j - Furnishing certain deceptive forms : PennyMac and XXXX XXXX DBA XXXX XXXX have failed at all times to provide a validation of debt in spite of numerous requests.
15 U.S. Code 1692g - Validation of debts : At all times we have not been given " Proof of a Debt '' or a " Debt Verification '' from a creditor to whom it is owed. Our research indicates that this purported loan may never have been funded, but has not been proven by the originating lender, who is now a defunct company.
PennyMac has violated numerous laws under the unfair business practices laws:15 U.S. Code 1692f - Unfair practices:15 U.S. Code 1692e - False or misleading representations ( 7 ) The false representation or implication that the consumer committed any crime or other conduct in order to disgrace the consumer.
PennyMac represented that we were in arrears, stopped our trial modification that we previously had with XXXX and violated the National Mortgage Settlement guidelines in doing so. They claim ignorance of the trial modification ( even though we have written evidence ) and charged unconscionable fees to reinstate.
( 8 ) Communicating or threatening to communicate to any person creditinformation which is known or which should be known to be false, including thefailure to communicate that a disputed debt is disputed.
We disputed this debt and filed numerous requests for evidence of their authority which they never provided, nor can they. PennyMac filed fraudulent documents with the county recorder 's office.
In addition, PennyMac filed fraudulent evidence with the court.
( 10 ) The use of any false representation or deceptive means to collect or attemptto collect any debt or to obtain information concerning a consumer.
We believe that PennyMac used the fraudulent representation of offering a " modification '' in order to acquire our consumer information and social security numbers in order to securitize a 'purported ' loan that was never agreed upon with PennyMac. This can be evidenced by their securitization of this purported loan XX/XX/XXXX.
15 U.S. Code 1692dPennyMac put us on an autodial program. After several months, when they chose not to work with us the calls continued. Approximately 3 x 's a day or phone would ring and we would get a message from PennyMac telling us to call back. When we picked up the phone the automated service would tell us to press one to speak to a customer service person. We would press one, the phone would transfer to the customer service personnel, they would then hang up on us.
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| 01/08/2017 |
Yes |
- Mortgage
- Conventional fixed mortgage
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- Credit decision / Underwriting
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Web |
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In XXXX 2016, I contacted my current mortgage company, PennyMac USA to refinance my condo. While they warned me that it would take 6 weeks to get an appraisal due to the real estate market in my city, they assured me it would take no longer than that. I was upfront with the lender that I was temporarily working away from my primary residence for another 3 months. I still considered the residence my primary home - I was traveling extensively for work, did not establish another residence, and was not paying rent on another unit. I explained that while I was away, my mail was being forwarded to a family member 's home to ensure that it was being received and taken care of timely. Over the course of almost the entire process, I was told that this would not be an issue.
After two and a half months, at the end of XXXX 2016, an appraisal had still not been completed, and I was informed at that point that the underwriter wanted statements verifying why my mail was going to another location, including submitting utility statements. Because my HOA handled almost all of the utilities, the only utility that I would have paid for was on a freeze. I reactivated the service, and submitted proof to the mortgage company. At this point, I was also required to submit even more documentation, such as my XXXX and income documents for a third or fourth time, as well as updated paystubs and bank statements ( putting the total information they had on me at more than six months ). I was ensured that this would be the last batch of information that they needed, and that as soon as the appraisal had been completed, the refinance would be approved and processed.
The appraisal was finally ordered, which took almost two weeks for completion. At that point, I was told I needed to submit updated bank statements again, to prove that I had an arbitrary amount of money on hand. I was never told why that number was important, or how it was calculated. Unfortunately, because of the timing of the bank statements, no new statements were available to provide since the end of XXXX 2016. While I was told that would n't be an issue, less than a week later, I was told that the underwriter would not be approving my refinance because she did n't feel that there was sufficient documentation or explanation to prove that this was n't my primary residence. I offered to submit written statements from family members and any documentation that I might have from my job, but I was ignored and the file was closed out. I never heard back from the underwriter, and it took almost two weeks for the loan officer to inform me by phone that the refinance had been rejected.
The entire process was disastrous and a disgrace. The mortgage company took far too long to review the case, and if they had done so in a timely manner, I would have been able to provide any documentation they requested to show that I traveled extensively for work. At best, the loan officers and processors had placed my file on the backburner, figuring that the appraisal would n't be done for a while, and at worst, they lied to me and purposefully refused to respond to me about the status of the loan.
PennyMac USA essentially promised me that this refinance would be approved, as well as the financial benefits that would come along with it, such as having the current escrow account closed out and having the first payment pushed back by one month. Because of that, and other changes in my circumstances, PennyMac USA has dealt me a significant financial blow. At this exact moment, I am unable to pursue a refinance with another lender, and even if I were able to do so, the rates have changed significantly - putting the 30-year refinance at anywhere from .25 % to .5 % higher than the rate I was offered.
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| 09/17/2020 |
Yes |
- Mortgage
- Conventional home mortgage
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
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Negligent dealings followed by retaliation and further dishonest practices.
This complaint is in response to what I now feel as dishonest dealings and half truths by this company. Having fled prior complaints due to negligent practices of PennyMac, failure to communicate, and retaliatory dealings, I have found that this company is more focused on mitigation of their failures and to provide cover for themselves than fix or accurately address their failures. In their response to my complaint of XX/XX/XXXX, the author failed to address the main reason for the complaint, attempted to minimize their negligence, and failed to cover several important components with my dealings with PennyMac. She stated that on XX/XX/XXXX " an initial complex income review was completed '' and additionally a " second complex income review was complete '' after receipt of additional documentation. Neither one of these is true and the word " complex '' is closer to being dishonest than simply fluff. At no point prior to their review did anyone ask for any questions or look for an explanation of my business structures or anything else with the initial documents I had provided. In all the mortgages or refinances I have done, I have never not had someone look into or ask for some clarification. Once I eventually spoke with XXXX, it did not take long to find out that they had double counted one of my mortgages and double counted my auto payments. Additionally they failed to understand or address a one-time transfer between my account. Either of these reviews were far from " complex ''. Also to note, I was not aware that they were completing reviews at the time. Again, I have never had someone not ask any questions and expect for someone to simply neglect a file in such manner. To use the word " complex '' ( twice explicitly! ) shows that they look at this as a joke and where there is any regulatory of this industry, see it as nominal.
I am glad that it was at least acknowledged that two emails and a phone call to Mr. XXXX were not returned. In an industry that is so critical to an individual ( along with the nation 's ) financial well-being, timing and responsiveness is utterly important. I think most would find that their failure to respond to three contact attempts during a loan application is negligent and certainly detrimental, however Mrs. XXXX failed to mention the other attempts I made to finally receive a call back from XXXX. After Mr. XXXX failed to respond to my first 3 contact attempts, I called the main number and was to an XXXX who happened to be in the same department at MrXXXX XXXX. During a brief and apologetic convesation with him, he provided me his direct number along with the manager, XXXX XXXX, and additionally sent ( or told me he was sending ) an email to both Mr. XXXX and Mr. XXXX to call me an address my concerns. As what I have seen as being typical ( or just the characteristic ) of this company, I never heard from anyone. The following day I called XXXX directly and left him a voicemail. After another day of not hearing back, I called Mr. XXXX and left him a voicemail. Toward the end of the day is when I finally heard back from Mr. XXXX. So instead of the three attempts ( already negligent on their own ) that Mrs. XXXX, it took a total of six ( 6 ) attempts over a week to finally receive a response. Again this is when I had an open application, or at least thought I did ... Their failures cost me critical time that did cost me a fair change at the property of my first choice. I'm happy to address that in more detail and dealing with other lenders after this experience with PennyMac - all others highly complementary by the way which I would be happy to report my positive experiences if such a forum exists.
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| 12/22/2016 |
Yes |
- Mortgage
- Conventional adjustable mortgage (ARM)
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- Loan modification,collection,foreclosure
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Web |
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I have filed complaint with cfpb regarding pennymac loan services. they are illegally advancing foreclosure on my property XXXX XXXX XXXX without compliance, NO a right to cure, no acceleration, false statements in affidavits filed in XXXX county registry of deeds, XXXXXXXX. & XXXXXXXX. in order to conduct this illegal foreclosure. In their response dated XXXX XXXX, XXXX to my complaint filed with cfpb they write that they have followed state and fed laws.
This is absolutely false. this is fraud. They are merely stamping robo signing fraudulent documents. Read CASE : XXXX XXXX. Read what XXXX XXXX did falsifying documents to advance foreclosure which was voided. She has done EXACTLY the same performance from lawfirm XXXX XXXX XXXX XXXX. by submitting fabricated documents dated XXXX XXXX XXXX claiming to have sent them certified us mail which is impossible for pennymac or XXXX to prove, because the certified letter never was sent. XXXX of XXXX XXXX in turn used this fabricated information to present to XXXX XXXX Court in effort to " show '' compliance with Servicemembers Act. In turn pennymac is using these fabricated docs to allege in affidavit to XXXX Registry of Deeds XXXX XXXX that they have complied with right to cure laws BEFORE they can foreclose.
IT IS ALL FALSE INFORMATION, FABRICATED, ROBOSIGNED, PHONEY DOCUMENTATION DESIGNED TO " LOOK LIKE THE LEGAL PAPERWORK '' WHEN IN FACT NONE OF THE INFORMATION IS TRUE. IT IS YOUR AGENCY THAT REGULATES THE FORECLOSURE, TILA, RESPA, FAIR AND UNFAIR, UCC FRANK DODD, HAMP RULES AND REGS set in place to protect citizens in this country from fraud, underhandedness, deception, fleecing, dual tracking, theft, lies and wrongful foreclosure.
when I presented these details to ceo XXXX XXXX of PennyMac I suddenly got letter " congratulations on streamline hamp loan modification '' just make 3 trial payments. I have completed the 3 payments, yet the online statement at pennymac reveals striking increase in foreclosure activity fees on my account, and it 's not possible to download the loan modification documents. the hamp regulations state that " ONCE THE BORROWERS MAKES THE 1ST TRIAL PAYMENT ALL FORECLOSURE ACTIVITY IS TO CEASE, THE FIRST PAYMENT EQUALS ACCEPTANCE OF THE HAMP STREAMLINE LOAN MODIFICATION PROGRAM, NO OTHER DOCUMENTS ARE REQUIRED UNDER HAMP STREAMLINE '' PENNYMAC IS VIOLATING HAMP REGS/RULES TO MY IMMENSE HARM RISKING AN UNANNOUNCED!!!! FORECLOSURE ON MY PROPERTY. THEY HAVE VIOLATED MY RIGHTS UNDER MY BANKRUPTCY PROTECTION AND CONTINUE TO TRAMPLE ON MY RIGHTS. PLEASE COMPEL THEM TO PRODUCE THE ALLEGED DOCUMENTS THEY CLAIM TO HAVE USED TO FILE THEIR AFFIDAVIT OF COMPLIANCE. IMPERATIVE THAT PENNYMAC PRODUCE THE ACTUAL RIGHT TO CURE AND IT 'S CERTIFIED MAILING RECIEPT, NOTICE OF ACCELERATION, AND EVERY DOCUMENT NEEDED IN FORECLOSURE COMPLIANCE. THIS IS A SERIOUS OFFENSE WHICH SHOULD NOT BE OVERLOOKED OR BRUSHED OFF WITH A " SENSIBLE SOUNDING '' LETTER FROM PENNYMAC. pennymac does n't even have the actual note which was a fabricated document by XXXX, on XXXX XXXX, at a time XXXX was no longer authorized to function/dba " XXXX '' as that entity was retired XXXX XXXX. The mortgage broker used fabricated documents with this extremely predatory negative amortizing loan. FDIC says XXXX not authorized to use XXXX after XXXX XXXX. XXXX claimed to have authority by assignment, but that assignment was robosigned post right to cure and robosigned to pennymac. this mortgage/note has been legally procedurally cancelled rescinded by me with no response within 20 days by servicer. by law this loan/note is void per operation of law. pennymac continually makes false claims against my bankruptcy a federal offense. imperative you intervene and demand documents. THANK YOU
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| 04/12/2016 |
Yes |
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- Loan servicing, payments, escrow account
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Web |
Older American |
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I am a XXXX year old widow & have had serious medical issues from the onset of my mortgage.My immediate issue is that I have just been denied a loan modification with PennyMac Loan Services , LLC ( PM ) which I have been trying to acquire for past year.I had previously applied with XXXX over years since XXXX & was repeatedly denied.In XXXX XXXX I was told by XXXX I was in underwriting & it looked good.I was very relieved the nightmare seemed to be coming to an end.Having no update XXXX XXXX, I was shocked to get a letter from XXXX XXXX stating they had sold the servicing rights to XXXX & I would need to start all over again XXXX XXXX with PM.I submitted loan mod application XXXX XXXX to PM & complied with often repetitive documentation request, & simultaneous foreclosure sales in violation of Reg.X & the CHBOR, while there still remained numerous undisclosed facts & unresolved issues with PM 's financial reporting.I repeatedly asked for clarification of the wildly inconsistent, extremely confusing financial information provided by PM via monthly statements & annual escrow account disclosure.On XXXX I received a loan mod offer which was dated XXXX & not mailed until XXXX mention this as PM dates important letters & does n't mail right away, which gives less time for review, yet demands that reply be back by certain XXXX receipt of offer I requested clarification of their calculations.My SPOC said the information I was requesting could n't be answered until completed trial payments.All my trial payments on XXXX & I expected I 'd get answers.PM sent XXXX PM permanent offer via XXXX received XXXX requiring return signed XXXX.Property address was wrong & no answers to questions about calculations.I requested an extension of time to review with my attorney on XXXX & was given till XXXX was in XXXX & unable to review my docs, he asked me to ask for more time.On XXXX asked for more time & XXXX my new permanent payment in good XXXX took it & cleared my bank XXXX XXXX I wrote via email & certified to request confirmation of request for an extension to XXXX XXXX received on XXXX PM wrote they 'd received my inquiry & were reviewing it, no mention of not extending me time to sign.On XXXX PM sent letter stating they were still reviewing & needed up to 15 days & no mention of not granting extension this received on XXXX on XXXX letter dated XXXX PM stating I was DENIED the loan mod reason being Offer was Not Accepted by Borrower, which is simply NOT TRUE! I repeatedly told the SPOC team when asking questions & making payments that I needed a better understanding of their calculation.I am shocked that they just denied me without answering my questions and not informing me they had not granted me an extension to sign.I will gladly send CFPB the spreadsheets & questions for review.I feel it is very reasonable to have these questions answered before expecting me to sign a loan mod for 40 years made off of these values & calculations that are wildly inaccurate & should be a concern of the CFPB too. Additional history, in XXXX after the death of my husband I called a Loan Officer ( LO ) at XXXX who was our neighbor & friend of my husband.My husband felt the LO would be able to assist me after his passing.This LO was very aware of my many medical problems I was recovering from 4 years of XXXX XXXX medical problems which included removal of my right XXXX XXXX.I had also been my husbands XXXX & was dealing with XXXX from all.Even knowing I was heavily medicated this LO preceded to make XXXX loans totaling over XXXX dollars to me.XXXX of the loans were negative am loans & the other XXXX were equity loans, essentially stripping me of my life savings.All of which I did n't understand in the state of mind I was in.
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| 06/21/2016 |
Yes |
- Mortgage
- Conventional fixed mortgage
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- Loan modification,collection,foreclosure
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|
Web |
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My family has been the subject of ongoing abuse and fraudulent misconduct by PennyMac, our mortgage service provider. PennyMac has fraudulently used deception and misleading communication to induce us to action with intent to bait and switch. Strong evidence indicates that their motive was to perpetuate false hope of home retention, so we would maintain the house while they waited for the market to recover. The evidence supports that they knew that us working out a plan to keep our home was not going to happen. They offered phony alternatives and deception to induce us to go to the expense of time and money to cooperate with a loan modification process. We suspect that they must receive compensation for each loan modification that is applied for, because we were receiving multiple appeals from different representatives even while they were verbally telling us that our account was not currently eligible for a loan modification. After it became apparent that a loan modification option was not ever going to be considered, they pitched the short sale option with a lump sum payment incentive, the Deed in Lieu option, and dangled offers of cash for keys incentives that they really had no good faith intent to follow through with. At each point, they pulled the rug out from under each deal and were content to leave us out on the street with no compensation for their inducements. Had the judge on the case not granted an extension to give time for them to follow through with their inducements, we would have been stranded. After inducing us to go to work for them to do the market research, make repairs, show the house to prospective buyers, and even secured a qualified buyer for the price determined by PennyMac, they arbitrarily declined the short sale offer that met their original terms. They claimed the house was now worth {$240000.00} more than it was two months earlier ( a XXXX % increase ).
Long story short, since 2012, PennyMac has been fraudulently imposing on us a false sense of hope, in order to induce us to stay in the home, maintain the home, and preserve the value of the home until such convenient time as the market recovered and they were ready to cash in on their manipulative scheme. To add insult to injury, they conned us with bait and switch tactics to work for them with verbal inducements without any intention of delivering on their end of the bargain. I believe that the fraudulent, dishonest behavior of this company is typical of the corrupt past that these PennyMac executives spawned from. My recent research uncovered that PennyMac Loan services was started by XXXX in command XXXX executive who jumped ship with a half dozen other former XXXX execs in order to start PennyMac. They rode their fortunes to the top of the bubble with XXXX, and now with PennyMac, started buying up distressed loans to cash in on their insider information. These people are white collar criminals and the last thing these bandits care about is keeping people in their homes. Their sole interest was to make one more buck on the mess they created, while they pretended to sweep up the mess they made. Is there anyone in any position of authority willing to hold these people accountable for their actions?
Documentation and facts that corroborate are attached or available upon request. PennyMac 's behavior involves fraudulent inducement that has imposed financial harm upon my family. The cost of holding on to false hope for 7 years is significant. Lost time is no longer available and credit repair has been postponed years down the road for us. This companies ' reckless, deceptive practices are unconscionable and they ought to be brought to justice and held accountable for their unfair dealings in bad faith.
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| 04/06/2016 |
Yes |
- Mortgage
- Conventional fixed mortgage
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- Loan modification,collection,foreclosure
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|
Web |
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I refinanced my home with XXXX XXXX in XXXX. Penny Mac Loan Services purchased the loan. In XXXX XXXX, I lost my job. I was able to get some contract work, but got behind on my mortgage. I was 90 days delinquent when I applied to the Home Affordable Modification Program with Penny Mac in XXXX XXXX. I got a Notice of Default and Intent to Accelerate from Penny Mac dated XXXX XXXX, XXXX.
My application was deemed complete and I was assigned a Loan Modification Underwriter by XXXX XXXX, XXXX. I had made additional payments, but was still only current through XXXX XXXX, XXXX. Penny Mac had an appraisal done and forwarded that to me on XXXX XXXX, XXXX that indicated there was plenty of equity in the house should it go to sheriff 's sale.
I decided to put my house on the market XXXX XXXX, XXXX. I notified Penny Mac both in writing and by phone that I was doing so and indicated the selling price. I got an offer on the house that I accepted on XXXX XXXX, XXXX. I forwarded a copy of the Sales Agreement to Penny Mac and the agreement stipulated a closing on or before XXXX XXXX, XXXX.
Within a week after sending Penny Mac the purchase agreement, I received a letter from XXXX XXXX indicating they had received my file from Penny Mac and would start foreclosure proceedings. I called immediately since I was still in the modification process. I had been very diligent in following the progress of my application online and had been stuck in the " decision '' phase for some time. All these activities occurred in XXXX XXXX.
I continued to be prepared for a service processor to appear with the Notice of Seizure, but I never received one. I continued to get phone calls from Penny Mac and on one occasion I happened to get a cooperative customer service rep. I asked the disposition of my modification request. She researched it and told me I had been approved, but that no one was able to reach me. Therefore, I was removed from the program. Needless to say, I was a bit upset. I indicated I had answered most of the calls from Penny Mac, but I had never received a call concerning the loan modification. She claimed they had tried to call me 12 times. I indicated I had not received any written correspondence. Given the importance of this modification, I would have thought Penny Mac would have sent a certified letter. Of course, that did n't happen.
We were fast approaching the closing date of XXXX XXXX. I had requested and received a reinstatement quote from Penny Mac through XXXX XXXX, XXXX ( included in the attachments ). I requested a copy of the closing statement from the closing attorney ( also attached ) and realized I was being charged over {$9000.00} in foreclosure costs and foreclosure fees. I went directly to the Civil District Court Clerk 's office and the Mortgage Conveyance office to determine if any actions had been filed against the property. None had been filed.
I contacted XXXX XXXX and was told by the attorney handling the case that he had not opened the file. In other words, nothing had been done. I then called Penny Mac and raised concerns for being charged these fees when no action had been taken other than letters being sent. I argued with them for two days, but they would not revise the closing costs. I paid the fees at closing.
Since then, I have been trying to get an itemized list of all the fees/costs that make up the {$9000.00}. You can read the attachments. I think they are self-explanatory.
I am due a sizeable refund. I do n't know if I can collect judicial interest and I do n't know if there are any other damages I can claim. This situation has certainly caused me XXXX. There actions are fraudulent, capricious, arbitrary, and the lender has certainly not met the mi
|
| 08/10/2016 |
Yes |
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- Settlement process and costs
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Web |
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i contacted my mortgage lender Penny Mac to do a refinance. i was told the process was going to be easy. i gave everything to them upon request and set up the refinance. i was given a refinance date & was told not to pay my mortgage until the refinance was complete which was supposed to be set up before it was actually due. in the process the lender i was appointed left on vacation. therefore he missed the refinance date. i then spoke to his manager & was told my lender was " in training ''. so i called back later just to find out, through his voicemail messager, that he was officially on vacation for a week and would not return until the following thursday. i then got back in contact with his manager to ask why he lied and to check the status. he then proceeded to tell me that what the lender was telling about the refinance was completely wrong and that they would never advise me to not pay the mortgage. & that he would contact me regarding the situation. 5 days went by and i heard nothing. then when i called them back to check the status the manager & everyone else was no longer available to help & was pretty much ignored until the lender came back from vaca. when the lender gets back from vaca i dont receive a call. so i waited two more days longer and contacted them. all for them to give me the runaround and excuses. so then we moved forward after i put up a fight. so then my refinance date was rescheduled for the following Friday afternoon. everything was all set up through the closing lawyer/lender & i was supposed to get a final confirmation stating that they would be coming on Friday. i never go the final confirmation. so i left work early friday to meet with the closing lender on the scheduled time. nobody showed up. the following morning i emailed everyone involved asking to be contacted regarding the situation. i then went about my day. i get a phone call around XXXX from my wife saying that the lender was there at the house to close. no phone call from them informing us ahead of time & nor did i hear from the lender at all. seeings how i was not available the refinance was not completed. therefore i needed to make my mortgage payment that was now close to being late. i tried monday and tuesday to contact the lender or manager through email and phone messages, with no results. then on wednesday a completely new person contacted my stating that they would like to set the closing date & informed me i would need {$300.00} for closing costs. which just last week on the correct date that somehow they messed up, there was no closing cost fee out of pocket. so i questioned everything and asked to be contacted by the lender to explain everything to me. nobody reached out. then i was called that thursday to confirm the date that the lender had set up to close which was to be the next day ( friday ). still no call. i was then contacted by the closing lawyer stating my closing cost was now a new figure. i then tried to contact the lender with no prevail. the lawyer even reached out himself with no results. the lawyer explained it all to me once he arrived at my house and pointed out everything the lender had done wrong. & advised me of the financial XXXX ups that the lender was obligated to take care of. i went through with the refinance under the advice from the lawyer who stated i was in the right and the lender was in the wrong. since the closing i still have not been contacted by the lender or anyone involved in the situation. i was completely mistreated and hung up on several times throughout the process. there is plenty of details i couldnt type. i really need the help because theres not much i can do at this point. especially cause at this point im being ignored still.
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| 03/23/2018 |
Yes |
- Mortgage
- Conventional home mortgage
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- Struggling to pay mortgage
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Web |
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OnXX/XX/XXXX, I, XXXX XXXX XXXX, filed BK under Chapter XXXX, XXXX to stop the foreclosure of my property located at XXXX XXXX XXXX XXXX, HI XXXX. There was a previous Summary Judgment against the loan of my property judgment for the Commissioner by the name of XXXX XXXX XXXX to sell but did not happened, and the summary stated in the Summary judgment included for him to limited to collect including rent but in the eyes of the Law, he is not supposed to collect if the ownership of the property still in my name and never transferred to Pennymac yet. On my bankrupcy, my wife and I are in the process of getting divorced and we applied for a loan when I lost my job in XX/XX/XXXX. When PennyMac give us trial period modification of 3 months, I have been paying the mortgage for 3 months in the amount of {$3300.00} but I made it up to 4 months. Until I received a permanent offer for loan modification but the commissioner XXXX XXXX XXXX, of XXXX XXXX XXXX XXXX of Pennymac did stop him from collecting my income rent at XXXX XXXX XXXX XXXX XXXX. Eventhough I was paying the trial period and while I was in bankruptcy in XXXX, on which he actually violated my automatic stay. Paying my mortgage to Pennymac violates him from collection under the FDCP ( Fair Debt Collection Practices act ) for collection from my tenants while i was in bankruptcy. Collecting my rent of PennyMac through the commissioner while I was paying mortgage is " double Dipping '', form of fraud!. The order of the Judge in the second circuit Court should have been ceased and can not be enforced while I was in bankruptcy and I was paying my mortgage. So I dismissed my bankruptcy voluntarily in XXXX, not knowing my soon to be ex wife did not want to sign the permanent loan modification. My hardship was being ignored by PennyMac and I need help. I temporarily moved to California because of the prejudiced in XXXX Judge in XXXX Circuit Court, approving to collect my income rent by his appointed commissioner while I was in bankruptcy. I am now filed another bankruptcy in California, and continued my payment under bankruptcy plan in the amount of {$3300.00} on XX/XX/XXXX and paying the trustee in California State in the amount of {$1100.00}, and Pennymac still collecting my income rent while i'm in the Bankruptcy Chapter XXXX, case No. XXXX. OnXX/XX/XXXX, Notice of rescheduled for a meeting of creditors including for Pennymac to show up in my bankruptcy, under Section 341, but Pennymac failed and no one showed up for pennymac to represent them to object under my bankruptcy chapter XXXX plan. On XX/XX/XXXX, today, around XXXX XXXX I called Pennymac talked to XXXX, to make a payment under my BK plan, and said they will not accept my payment for some reasons and no explanation. Be advised that Pennymac is harming me constantly constantly harming my financial status and my hardship. I need some Justice. Pennymac commissioner collecting my income rent was doing is retallation against me so that way I can not sustain to pay my mortgage and he's holding the money to trust on his name, not with Pennymac according to him. Don't know if Penny knows about it or not.
Under my constitutional rights as individual as I am also still the owner of the property located at XXXX XXXX XXXX XXXX, HI XXXX need some justice to protect my investment and my income and my financial problem and to honor my hardship while I am getting divorced. I need to waive my wife 's signature in order for me to enforce my continuance of monthly payment to my mortgage as is and as my obligations. Thank you very much.
Dated : XX/XX/XXXXSincerely yours, XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX, CA XXXX Mailing Address XXXX XXXX XXXX XXXX XXXX, XXXX Tel : ( XXXX ) XXXX
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| 02/07/2023 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
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|
Web |
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Company increasing escrow unnecessarily : XX/XX/XXXX - Notified that we had a new Escrow Analysis for review.
XX/XX/XXXX - I responded that their analysis was using an incorrect property tax amount and provided my own escrow spreadsheet analysis outlining my argument. At odds is the fact they were setting the property tax at {$7900.00} when, due to a law in XXXX XXXX, my taxes actually decreased in XXXX to {$6800.00}. I provided a link to the XXXX XXXX for XXXX in my response. Note at this point, they had paid the {$6800.00} amount XXXX month earlier on XX/XX/XXXX. So the use of the {$7900.00} in their analysis was clearly incorrect.
XX/XX/XXXX - Company responded, requesting I consent to another loan analysis, which I did on XX/XX/XXXX, asking them specifically to use the {$6800.00} property tax amount in that analysis.
XX/XX/XXXX - Company responded that " as the payment is increasing, we are required to set the effective date for at least XXXX months out '' .... '' if we update your tax amount to {$6800.00} annually the new payment effective XX/XX/XXXX would be {$3000.00}. '' They then requested I consent to proceed with this payment. Note that at this point, they were increasing my escrow by {$27.00} - still unnecessary, but given it was such a small amount, I was ok with it.
XX/XX/XXXX - I emailed my consent to increase the escrow effective XX/XX/XXXX.
XX/XX/XXXX - I received an email from the company stating " Your new monthly payment beginning XX/XX/XXXX is {$3000.00}. '' The email did mention that if there was a shortfall in the future we'd have to deal with that, but it appeared to be standard language they include in these types of correspondence.
XX/XX/XXXX - I logged into my account online to pay the XXXX mortgage and noticed that the company had already increased my escrow ( a month early from when they said they were " required '' to make it effective ), and on top of that, they increased the escrow {$160.00} without any kind of notice. Their email of XX/XX/XXXX was unequivocal in stating when and what my new payment would be yet they blindsided me with a larger increase a month early. I emailed them that day requesting an explanation.
XX/XX/XXXX - The company responded with telling me the XX/XX/XXXX analysis was done with the {$XXXX} amount and that our insurance increased to {$XXXX} from {$XXXX} and that was an issue as well. In addition, the company alleged that I provided no documentation re : the taxes, and that they were also tacking on an " escrow reserve requirement '' to our account.
XX/XX/XXXX - I emailed back refuting the content and tone of their XX/XX/XXXX email. I did, in fact, provide a link to the relevant XXXX information re : the lower taxes ; the insurance they made seem like a new issue was already at {$XXXX} back in XXXX of XXXX so it wasn't a new revelation ; I provided my own analysis again for their review; etc. I have yet to hear back. I have not praid my XXXX mortgage payment, and have another week or so before late fees become involved.
I am concerned primarily with the fact that I am getting XXXX different stories from this company and that they will be essentially holding approximately {$XXXX} in excess escrow by XX/XX/XXXX if they do not change their analysis. That is money I should be getting a measly few pennies of interest on, not them. So yes, it's mostly principle here that I am frustrated with. But also, they reneged on their own " XXXX day notice '' requirement and, if I read the rules correctly on your website, even with the formula where they can keep XXXX extra months of escrow plus {$50.00}, their new escrow amount is slightly in excess of that.
Thank you for letting me tell my story!
XXXX
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| 03/08/2021 |
Yes |
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- Trouble during payment process
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Web |
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On XX/XX/XXXX I went to check on my property at XXXX XXXX XXXX for no particular reason other than I had not received any calls inquiring about renting the property.
I have been paying the mortgage, keeping up the property and had been trying to decide whether or not to move back in at the time. ( no payments were over 30 days past due ) Upon arrival I noticed a Large party barge in my drive way, obstructing me from even getting near the home. once I did get up to the house, I immediately noticed that my front door was completely wide open to the outside.
There was a lockbox attached to a new doorknob and both were locked however the door lock had not been engaged and although the mechanism was locked the door was open.
Upon entering I saw that my original hardwood floors had obviously been affected as they had gaps, were filthy and did not look as they did the last time I had been in the house.
When I had last been in the home, I had a cleaning CREW go from top to bottom to ready the home for rental and then I personally closed and locked the house.
What I saw before me was terrible. All of the kitchen cabinets stood open and looked askew / wobbly and covered in dust residue.
The same for the wood blinds in the front living room where the door was open. everything was now covered in mold.
Additionally the BACK door was open AS WELL and the carpet was moldy and covered in leaves, spider webs, insects.
The entire front part of my home is top to bottom covered in filth residue and insect matter. There is obvious weather and water damage.
I Do not know the exact date of the last day I went into the home prior to when XXXX knocked my doors down, damaging both door frames irreparably and then left my house UNSECURED.
It must have been XXXX of XXXX.
How could this be that I have a vacant house and I am not just going over there every week to check on it? Well as I have mentioned to you I am a single mother.
I have a full time job and am raising my 2 sons alone. My oldest son has XXXX XXXX XXXX XXXX and much of my time is spent devoted to him.
Never in my wildest imagination would I have dreamt that anyone could have legally done what your company did to me and not only get away with it but CHARGE ME FOR IT.
The literal moment that I discovered this damage to my property at XXXX XXXX and subsequently found the XXXX XXXX / PENNYMAC Mortgage sign in sheet on the countertop, I contacted both companies.
I was met with an answering services and the run around with no one being able to explain why my home had been broken into.
I did report the issue the day I discovered it both to you and to Penny Mac.
Next I was told that I had to get independent contractors to the home to bid on the repairs.
This also is no easy task as I have to WORK ALL DAY. But I did manage to get this done. I asked several times for your company to send their own people over to bid it but was met with many excuses.
It amazes me that you and I have the name of your employee who signed in and we both know that had it not been for XXXX no damage would have occurred to my home.
Not only are BOTH door frames damaged with the exact same sort of damage but also this person was so reckless and careless that he did not take the time needed to ensure that my HOUSE was locked and the probable first wind that came blew both doors open!
Both Pennymac Mortgage and XXXX properties have decided that they will not repair the destruction to my property- the ONLY thing I own of any value.
Additionally pennymac has applied thousands of dollars of my mortgage payments to XXXX payments and deemed me " late '' when in reality I was paying on time which has wrecked my credit.
THIS SHOULD BE CRIMINAL
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| 09/30/2015 |
Yes |
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- Settlement process and costs
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Web |
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What I wrote in the past within my Bankruptcy in XXXX tells the story.
XXXX RESCISSION AND BREACH BUY BACK CONTRACT In XXXX XXXX XXXX contacted realtors exercising the possibility of buying another home in the XXXX XXXX area. After he moved to XXXX he discovered he could get a better Supplement to Medicare insurance. Then XXXX XXXX was connected with a Lender Broker XXXX XXXX in XXXX. XXXX XXXX fabricated the loan application and submitted to XXXX XXXX XXXX Mortgage ( XXXX ). The XXXX ( XXXX ) and XXXX XXXX ( XXXX ) Uniform Loan Application which has XXXX XXXX 's forged digital signature, states XXXX XXXX submitted a loan as though he was buying his Sons XXXX XXXX 's home. In addition the application is solely for a XXXX type loan and XXXX states there is no said loan. XXXX XXXX was married to XXXX XXXX for 50 years till he passed XXXX XXXX XXXX. In the event on any and all real estate purchases by XXXX XXXX, XXXX XXXX would have had to sign an agreement stating she is aware of this purchase and that she agrees she will NOT be included on the property, there is no said agreement. After all loan documents were pushed through XXXX XXXX and mailed to XXXX XXXX, he immediately rescinded the contract ( See exhibit ). XXXX XXXX and The XXXX Law Firms are attempting to claim the new PennyMac loan derives from this old XXXX rescinded loan. After the Loan was rescinded, a XXXX breach buyback contract was generated forcing XXXX to buy it back and to close the loan ( See exhibit ). XXXX XXXX and XXXX XXXX hired criminal attorneys XXXX XXXX and XXXX XXXX to investigate and to insure the XXXX contract was rescinded. XXXX XXXX obtained the Breach Buyback contract to have as evidence for cases such as this to be used as future evidence. XXXX XXXX obtained a fraudulent closing stating that was created before the rescinding of the loan. It stated XXXX XXXX brought a check into title for {$1700.00}. It took XXXX XXXX four months before XXXX XXXX 's insurance XXXX XXXX XXXX XXXX XXXX released a copy of that check. The check was written to title number XXXX which has no affiliation with said property. The XXXX at the end stands for XXXX XXXX. When the check came from the Insurance Company the title number was scratched out. XXXX XXXX contacted XXXX XXXX spoke to XXXX XXXX and was the check was NOT intended for XXXX XXXX 's home. The fraud title number XXXX XXXX rolled the monies into is XXXX. Then XXXX XXXX falsified in the closing statement XXXX XXXX brought the check in to XXXX XXXX ( See exhibit ). Attorney XXXX XXXX hired a private investigator and locate XXXX XXXX 's service writer XXXX XXXX and Broker XXXX XXXX. XXXX XXXX went into hiding and quit her position in XXXX. XXXX XXXX found XXXX XXXX on vacation on the big island of XXXX. XXXX and XXXX XXXX request protection from this court from illegal debt collection and security of their residence and all assets.
RESPONSE TO CLAIMED CREDITOR PENNYMAC LLC.
As stated previously PennyMac LLC. is solely a servicer not a Beneficiary Lender. In all replies into this case claimed creditor parties fail to mention the Beneficiary Lender or Holder of Due Course. The XXXX XXXX and XXXX XXXX Firm is an unsecured debt collector that tries to foreclose for monitory profits. Since there is no XXXX XXXX or XXXX XXXX XXXX XXXX to pay it is XXXX percent profit to steal homes and flip them. XXXX XXXX phoned PennyMac LLC. and had them research a said debt by giving them XXXX XXXX and or XXXX XXXX 's name. PennyMac LLC. does not list a said debt in their database. Both Government XXXX 's XXXX XXXX and XXXX XXXX state no debt in their database. Because of the mortgage crisis fraud the government took over and backed XXXX and XXXX XXXX, to insure.
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| 02/05/2022 |
Yes |
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- Trouble during payment process
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Web |
Servicemember |
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My VA loan with Pennymac has been in COVID related forbearance. When I reached the end of my forbearance duration, we started the loan modification process. This has been an absolute nightmare.
Pennymac began calling me repeatedly every 2-3 days during work and during dinner. They would call with a robot and say I needed to call X number immediately and it concerned my loan. Given that this is extremely important to me, I always drop what I am doing and call. When I call they tell me they are busy and put me on hold for up to 45 minutes. When I finally get someone I ask them " why did you call if you weren't ready to speak? '' They respond they are allowed to and threaten me if I wish for them to stop calling they will, but I will be financially responsible for any information they are unable to provide me. I am not saying they can't call, but I think it is incredibly messed up they call me, then immediately place me on hold. This is clearly an illegal pressure technique to make my life as miserable as possible so I acquiesce to their demands. Attempts to address this with their management result in them telling me " to write Pennymac a letter ''.
Pennymac claims they have provided me a Single Point of Contact ( SPOC ), but I have yet to speak to the same person aside from the initial call. When I ask to speak with my SPOC they rudely tell me my SPOC is busy and it would take them weeks to call back and they " are part of my SPOC team ''. This is particularly frustrating is because every new person that calls is woefully unfamiliar with my case and I have to reexplain the entire background every time they call. Every single time they fail to review the notes on my file, tell me " its not their job to review my file before they call ''. Every single time they call and ask for information, it is information I have already provided.
Pennymac has been calling me every 2-3 days and harassing me about the loan modification process. This is obviously an illegal pressure tactic. They have three times mailed the loan modification paperwork to the wrong address. They rudely tell me the paperwork has been delivered to my house and aggressively ask why I haven't signed it? I ask what address they sent it to, and they tell me ( wrong address ), and I respond it is the wrong address. I give them the right address, but apparently they don't write it down or if they do, the following " SPOC '' fails to review that note and again proceeds to mail it again to the wrong address. This process has repeated itself half a dozen times. Finally, after asking to speak to a manager to stop this madness they arrange a mobile notary, I promptly meet up with notary and sign the paperwork. I have since received 5 calls asking why I haven't signed my paperwork and wondering about if it had arrived in the mail. This is extremely infuriating because when I ask them to review my notes, they respond " oh yeah I see that a mobile notary has mailed in the paperwork ''. I then ask why they called if they already had the answer to the question? They respond its their right to call and if I don't want them to call I will be financially responsible for any information i miss.
Pennymac has clearly adopted aggressive and illegal pressure tactics during this process. They have failed to provide a SPOC. They call incessantly requesting information they have already been provided. They have been beyond arrogant and adopted a threatening tone and posture. They have demonstrated they are clearly unapologetically unorganized. They have shown a blatant disregard towards me and disrespected my time. I have not missed a payment prior to COVID and this insanity needs to be addressed and stopped ASAP.
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| 12/17/2021 |
Yes |
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- Struggling to pay mortgage
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Web |
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I was assaulted in XXXX, which eventually resulted in permanent XXXX. Consequently, I lost a lot of income resulting in an inability to pay for all of my bills. The last day that I tried to work was in XXXX of XXXX. I was on employee paid XXXX until XX/XX/XXXX. On XX/XX/XXXX, the XXXX program became WA State ran which required everyone to reapply to the State in order to be approved for benefits. I reapplied, but my benefits werent approved for nearly two months and I had no income and no way to pay my bills. I became behind in everything at this time and I attempted to contact all of my creditors to request assistance. My mortgage company informed me that they couldnt help me until I missed two payments, at which time I might qualify for one of their programs. After two months, PennyMac placed me on a forbearance plan and assigned me to a forbearance specialist who was supposed to ensure during this process that both of our needs were being met and so ultimately I could keep my home. I paid what I could and I communicated with them every month. I was on the forbearance program until XXXX or XXXX, XXXX at which point I was promised an opportunity to apply for a modified mortgage. I explained my situation in depth every month to PennyMac, but I never actually got to speak to the specialist who was assigned to me. It was a different person every time and I didnt realize how this would have a negative impact on me until in the end, my previous conversations and circumstances werent taken into consideration and my best interests werent considered and I was allowed to proceed with paying off nearly {$11000.00} that I owed in behind payments by withdrawing from my retirement account. I repeatedly expressed my need to be able to apply for a modified mortgage and I was told every time that I would have this option. I originally planned on adding the {$11000.00} back into my mortgage contract, but because I was having to file bankruptcy, my attorney told me that she couldnt file until I paid off my late mortgage payments if I wanted to keep my home. This is when I contacted PennyMac and explained what I was told by my attorney and we discussed my options and that I would have to take money from my retirement in order to pay them. Again, I repeatedly expressed my need to apply for a modified mortgage because I am XXXX and I cant afford to pay my bills and again I was promised that Id still have this option even though I was paying off my late balance. This was not the end result however unfortunate. As soon as I paid off the nearly {$11000.00} that I owed them, I inquired on receiving the application to apply for the modified mortgage as previously discussed and promised to me and I was immediately informed that I no longer qualify. They completely XXXX me knowing that Im struggling to make ends meet and terrified that Im going to end up XXXX. I tried to hire an attorney online to help me, but Im fairly certain I was scammed and I sent my personal information to a man who said he was XXXX XXXX, a paralegal who worked for XXXX XXXX who was supposedly the attorney who accepted my case. The problem is that he had me sending all kinds of personal information to him via email and I discovered his email address wasnt under his name, but instead the email address he was using was under the name of XXXX XXXX. Ive never been able to confirm that XXXX XXXX is an attorney or even exists or that XXXX XXXX is an employee of his, but I have identified the person who I sent my info to also uses the name XXXX XXXX on XXXX and I confirmed that they are both one and the same. I can explain this better by phone call maybe. My point is, I need assistance on multiple levels.
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| 10/16/2023 |
Yes |
- Mortgage
- Conventional home mortgage
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- Applying for a mortgage or refinancing an existing mortgage
- Loan estimate or other related disclosures
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Web |
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My name is XXXX XXXX and I was divorced in XXXX from my ex-husband XXXX XXXX. We had an amicable divorce upon which we wrote our own terms. Within our divorce proceedings, I was awarded the house. The house deed was transferred through that process. We recently started the process to have his name removed from the mortgage via PennyMac. This was an assumption. PennyMac has XXXX defined as the seller and myself as the Buyer. No funds are to be transferred, but rather just have the mortgage altered to have his name removed. Unfortunately, XXXX has been difficult and incompetent and has caused a lot of confusion, frustration etc with financial implications, etc. Initially they told me to upload all my documents via the website, which I did. I called a few weeks later and they said that was the wrong way to do it and that I should have mailed it. They said they would send it to someone to address. That person then addressed a portion of the documents, but not all. It was not the end of the world, I just had to provide updated bank accounts, etc. as we went into another month. Once I got sent to XXXX XXXX, the problems started and have continued. First, he was very kind. He would call me and update me. Then, he started telling me he would call me XXXX date. I didn't hear back for a week. I tried calling him and emailing him and would get no response. I finally got ahold of a supervisor who then got XXXX to get in touch with me. He was unable to communicate about any details about the process. He was very unintelligent when it comes to his job. I received some paperwork so I called and asked him questions. He had no clue what things meant, or what the numbers meant. He said he would ask and get back to me. He called me back with FALSE information about the numbers. He led me to believe that I was okay to proceed with closing and I would just owe the {$2300.00} in closing fees. I finally got an email from a closer and they told me i owed {$28000.00} at closing! The underwriters decided that my divorce decree stating I had to pay my ex-husband when I SOLD the house meant I had to pay him now. I am the buyer, not the seller. Thus, they have given my ex-husband and I the runaround and it is still not resolved. In addition, the fact that i asked XXXX XXXX on multiple occassions what numbers mean, and he had no clue then LIED to me about what they were is highly inappropriate. I have had to consult my lawyer which is going to cost me money. I have spent well over 20 unnecessary hours dealing with this assumption process that should have been simple. I have missed work time which is an added cost. I have then had to make up work during family time and missed children 's events, etc. to try to keep up with what PennyMac is doing. I am supposed to have the mobile notary tomorrow but I still do not have an updated amount I am supposed to have available via a cashier 's check. If I am supposed to have that TOMORROW, I need time to get to the bank. In addition, they told me which bank account I have to use which seems highly inappropriate. They do not get to decide which bank account i use to pay my closing fees. The fact that XXXX XXXX is so highly incompetent is a huge cause for concern. PennyMac is falsely providing information to people like me. It is costing money, time, and of course stress. PennyMac is not training their staff, and are being completely out of line trying to involve themselves in a court order that DOES NOT APPLY here. One lady on the phone even asked me how I was going to talk to my ex-husband when I sell my house, that I should have to pay him now unless I can prove that I will have contact with him at a future date.
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| 09/27/2018 |
Yes |
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
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We are Hurricane Harvey Survivors. We had a conventional loan with PMI insurance in the original amount of {$160000.00}. Penny Mac contacted us in XX/XX/XXXX after Hurricane Harvey and asked us if we would like to get the repairs done to the home THEY WERE offering a disaster forbearance plan that would simply put these payments t0 the end of the loan and extend the term. Since we were standing in water, flooring that needed to be ripped out, ceilings replaced, we said sure that would be really helpful. We entered their " Disaster Forbearance plan '' as offered.
Then they held the insurance proceeds from our home over 45 days, meanwhile we owed contractors so we were forced to withdraw emergency money from our 401K to pay people to avoid liens. After all the repairs were complete, and the forbearance was supposed to end in XXXX, we made a payment, at the end of XXXX for XXXX, then we made another payment in the middle of XXXX for XXXX. We received a late fee for both of these??? We called and they told us that they did not have the forms prepared for the modification and the " trial '' payments would start in XXXX. Those two payments should have then credited to the past due balance in whole.
Then the day of reckoning comes, we receive the modification papers, everything seemed to be in order, we were modifying the current balance of the mortgage of {$160000.00} however, they are saying we have an ESCROW shortage of {$4900.00}. What they did not know is we had sold the property and had also ordered a pay-off on the loan. In fact when we called for it the man said " well you know if this loan doesn't close you will be in default and all these sums due ''. I said " Yes sir, I am aware, this loan is scheduled to pay off tomorrow. '' The Pay Off was very slow to come, the title company finally sent out the Final CD and it showed the payoff on the original loan was now {$170000.00}, and our portion of the county taxes for the year was XXXX.
So now we owe over 2,000 then WE EVER BORROWED, and NONE of our payments have reduced the principal of this loan??? We made payments totaling {$23000.00} plus the payoff of XXXX totaling XXXX, and this loan originated in XX/XX/XXXX. That is the first problem on this loan, on XX/XX/XXXX there is a credit paid on account at closing that should have been applied to payments and interest for XXXX, they stole that money.
And the problem continues throughout this loan, every payment mailed they do not credit for weeks. They credit the payments WHEN they can charge late fees.
Then they charged property inspection fees, in XX/XX/XXXX they charged us three times, the property had been repaired for months and furthermore PennyMac nor any representative of Penny Mac ever inspected this property.Then in XX/XX/XXXX they charge a " Property Preservation Fee '', at this time the property was under contract, we had made all of the trial payments plus two and were waiting on modification documents, we had been waiting since XXXX, XXXX.
Now for the escrow account, we had a balance of XXXX in XXXX, XXXX when we closed they made us pay an additional {$300000.00}, our insurance had already been and we only owed XXXX in county taxes. Some ten days later they sent a check for XXXX, the amount of the monthly PMI payment and said the escrow account is settled in full.
So in closing, we never paid the 4.5 interest rate as shown on THE TRUTH IN LENDING DOCUMENT, if you add up what has happened here my guess is that its close to 30 percent, although I have not put iron an amortization schedule yet. Oh and as a kicker they charged ANOTHER property inspection fee in XXXX, after they were paid off ... ..
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| 10/29/2019 |
Yes |
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- Struggling to pay mortgage
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Web |
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We have been working with PennyMac ( account # XXXX ) to gain approval on a short sale. PennyMac has repeatedly reviewed material submitted and made decision contrary to written FHA regulations and recently ruled in a required net proceeds from a hopeful sale that contradicts FHA 's written decision to us about FHA required net proceeds - and even THAT written response, from FHA, is against FHA 's written regulation.
Sections cited are within FHA SIngle Family Housing Handbook rev123016, under III. Servicing and Loss Mitigation A. Title II Insured Housing Programs Forward Mortgage 2. Default Servicing i. Loss Mitigation Count 1 : ( see page labeled 600 ) iii. Evaluating Borrower 's Financial Condition ( B ) Determining Surplus VIOLATED : Step 2 : " making necessary adjustments for income fluctuations '' PennyMac did not adjust as FHA requires for XXXX XXXX 's seasonal income fluctuation. ( See page 216 of same handbook, which defines seasonally fluctuating " effective income '' as the average of 2 years of income divided evenly by the period specified, such as yearly for annual income, or by 24 months for monthly income. PennyMac averaged just the ( then ) last 5.87 months - his highest earning season - this resulted in actual " effective income '' falsely inflated by 40 %. Short sale was denied due to borrowers " excess income ''. On appeal, I supplied 2 years of bank statements and 2 years earning history that clearly showed fluctuation. The evidence was not considered.
" Count 2 : ( see page labeled 641 ) vii : Deficit Income Test for Standard PFS VIOLATED * DIT calculation " subtract borrower 's total expenses from total net income '' PennyMac used XXXX XXXX 's GROSS income, contributing to ruling of " excess income '' issue, above. On appeal, evidence of all of XXXX 's bills were submitted supporting a finding minimal excess. The evidence was not considered.
Count 3 : ( see page labeled 641 ) VIOLATED ii : Streamlined PFS Standards " The Mortgagee must ensure that Owner-Occupant Borrowers meet the following requirements : ... the Borrower has been deemed eligible for and offered a Loss Mitigation Home Retention Option. However, each Borrower with a credit score below 580 must provide written documentation that they choose not to accept the Loss Mitigation Home Retention Option offered by the Mortgagee. '' In addition to both borrowers showing low credit score, and evidence provided that divorce decree ordered house sold - borrowers vacated property AND submitted letter rejecting home retention option. All these circumstances supported a streamlined short sale review. PennyMac did not abide, and forced fully documented hardship review, then appeal, while ignoring submitted appeal evidence.
Count 4 : ( see page labeled 655-656 ) ( 3 ) Net Proceeds VIOLATED ( b ) Standard " HUDs requirements for minimum Tiered Net Sale Proceeds, as based on the length of time a Property has been competitively marketed ... The Mortgagee may only approve offers that will result in minimum Net Sale Proceeds of 84 percent of the as-is appraised FMV. '' The XXXX 's property had been on the market over 60 days, thus net proceeds should be 84 % of appraised FMV. On XX/XX/2019, in response to FHA escalation ticket # XXXX ( wherein I complained PennyMac was violating " 84 % '' rule ), FHA rep, XXXX XXXX issued an email stating FHA would take no less than 85 %. Despite violation, buyer came up in price to meet 85 % requirement. On XX/XX/19, PennyMac came back stating FHA wanted 86 % no exception. I supplied PennyMac FHA 's written XX/XX/19 decision on on XX/XX/2019, as of today PennyMac is still refusing to honor FHA 's decision.
|
| 06/30/2015 |
Yes |
- Mortgage
- Conventional adjustable mortgage (ARM)
|
- Loan modification,collection,foreclosure
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Web |
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I was offered a loan modification by PennyMac, through the servicer, XXXX Mortgage. I accepted the terms, performed as required, and the servicer then stopped accepting my payments. I have attached a timeline matrix that explains the timing of my conversations with XXXX. This shows the TPP was dated XXXX, but it did not come to me until amost XXXX. I am filing this complaint because my property is about to be sold at foreclosure auction, and my entire default is solely because PennyMac failed to perform under the terms it offered me.
Short Background : After the modification offer was made, and while I was making payments, I filed Chapter XXXX Bankruptcy due to a separate matter. I did not reaffirm the debt, but I did indicate I wished to retain the property, I continued to make the modified payments I was offered, and XXXX continued to accept these payments, cashing my checks.
After I had made about XXXX modified payments, XXXX refused to accept them, and insisted I bring the account current. No explanation was offered. A few months later, PennyMac notified me it was the new servicer of the loan and the owner. It stated it had acquired the loan XXXX months earlier, before the modification offer was made. PennyMac refused to honor the terms of the modification, which I realized had come from it. Instead, PennyMac offered me a new loan modification on the phone, and I accepted those terms. When the papers came, they were nothing like was offered to me. I wrote back asking for what I was offered, and asking for what PennyMac had offered the previous year.
PennyMac stopped communicating with me and sent me papers saying I had declined the modification. It sent no further mortgage statements, no disclosures for loss mitigation solutions, nothing.
PennyMac sued me for foreclosure. During this time, it tried to get me to give a deed in lieu of foreclosure. It told me that even though I had a XXXX mortgage, it had arranged to have that released. That was not true. During this time, I tried to sell the property and the XXXX mortgage holder required over {$9000.00} to release its mortgage. I called them, and they said PennyMac had never arranged the deal it told me about. I had to pay $ XXXX if I wanted to get a mortgage release, whether I sold the property or whether I gave PennyMac a deed in lieu of foreclosure. PennyMac also told me that if I did not give a deed in lieu of foreclosure I would be responsible for any unpaid balance after a foreclosure sale.
Recently, I received an offer to purchase the property before the foreclosure sale date. My attorney gave this to the court-appointed foreclosure commissioner. The commissioner gave it to PennyMac, whose attorneys said that PennyMac was going to communicate directly with the prospective purchaser. PennyMac received another offer on the property before the sale date. PennyMac is trying to sell my property to others outside the foreclosure sale.
PennyMac told my lawyer that it would not consider me for a loan modification, and that it had offered a deed in lieu and had arranged to have the XXXX mortgage released.
I would like the modification I was offered, and the XXXX I performed on. I would also like all my attorney fees paid because if PennyMac had done what it promised, the foreclosure would not have occurred, and the foreclosure sale would not happen. I would like the sale postponed, and the foreclosure dismissed or put on hold. I would like PennyMac and its attorneys and the court-appointed commissioner all stopped from trying to sell my property outside the foreclosure process. If the sale occurs, I would like it rescinded at the confirmation hearing.
|
| 06/22/2016 |
Yes |
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- Loan servicing, payments, escrow account
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|
Web |
Older American, Servicemember |
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I was one month behind on my VA Mortgage in XXXX XXXX. My mortgage servicing co, PennyMac Loan Services offered to do a modification of my mortgage. This modification would reduce my payment and give me a 2 month hiatus in mortgage payments to get my house in order. I asked how this period would be reported to the Credit Bureaus. They advised it would be reported as my making partial payments. As a retired Commercial Banker, I did n't think this reflected the true status of the modification, as I would always be making full payments at the new reduced amount but I had no choice in the matter. I started this program in XXXX XXXX, with XXXX and XXXX being the no payment period which they called a " Forbearance ''. My three trial payments Started in XXXX to XXXX XXXX. After that I continued making payments while my Modification Agreement was sent and returned. This whole process took three months and my first regular payment started in XXXX XXXX. In XXXX XXXX I received an Alert from my XXXX service that my mortgage payment was reported as delinquent. I emailed XXXX XXXX my assigned contact at PennyMac and he told me in a email response that I had not yet made my 1st Trial Payment and as soon as I did the payments would be reported as " Partial payments being made ''. The first payment had been scheduled by me for XXXX/XXXX/XXXX and paid at that time.This was because the partial payments could be made any time during the month and it was more convenient for me to pay them during the trial period when we received our Social Security checks around the XXXX and XXXX. All payments after the trial payments were made before the XXXX. Around XXXX XXXX I was in the initial stages of applying for a VA Cash Out Refinance so I could consolidate my short term revolving debt incurred by the repairs we were doing on the home we purchased in XXXX XXXX. Unfortunately, these expense grew incrementally over a years time and we found ourselves overextended. The gentleman I was working with called me and told me there was nothing he could do as my Credit Bureau Reports showed late mortgage payments over the Modification period of 60 to 120 days delinquent. ( See Exhibit XXXX in package I included ). He further told me no lender could make any time of loan to me with this record. As a XXXX I agreed. After that I sent my complaint with a full package of information to the XXXX Credit Bureau asking them to contact PennyMac and correct the reporting on my account.
Page XXXX CFPB Complaint Shortly thereafter I received from XXXX a copy of my PennyMac credit report with no changes made and no explanation. This was obviously a waste of time. I then contacted the PennyMac Customer Service people on XXXX/XXXX/XXXX ( Exhibit XXXX ). They were actually quite helpful. They contacted XXXX XXXX, my primary contact at PennyMac and he confirmed to them that I was correct about the Credit Bureau Reporting. They also CC 'd their Supervisors on this and I received the impression the reporting would be fixed. They made a request to the PennyMac Dispute Department to correct the reporting and were told after a few days that the Dispute Department was leaving the reporting as is. I next contacted the U. S. Department of Veteran Affairs. They sent an email to PennyMac inquiring about my complaint on XXXX/XXXX/XXXX. As of XXXX/XXXX/XXXX, they never received an answer from PennyMac. I now am contacting the CFPB as my local Banker advised me that what PennyMac is doing is a violation of CFBB regulations. In addition we are struggling with Bill Payments, our own fault and we badly need to do Debt Consolidation Loan, which is presently impossible.
|
| 11/22/2022 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
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Web |
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PennyMac Loan Services has consistently operated with incompetence, deceit and possible fraud in all of its dealings with me as a customer. Unfortunately, I must file a new complaint ( unrelated to previous issues raised ) regarding my latest dealings with the firm.
My issues began in XXXX of XXXX, when PennyMac informed me that improvements I had made to my property which was purchased in XXXX of XXXX would count as " significant improvements '' that could qualify my loan for PMI deletion within 2 years of loan origination. At that time, I underwent their standard process, which involves them ordering a Broker Price Opinion ( BPO ) in order for them to establish an updated Loan-to-Value ( LTV ) ratio for the home. At that time, in the 2-year window after mortgage origination, an 80 % LTV along with significant improvements to the property would qualify for PMI deletion. The BPO, performed in XXXX, came in at {$270000.00}, resulting in my LTV at the time being under 72 %. I am attaching this BPO to this complaint. After the BPO came in, PennyMac stated that ( despite their previous communications ) the roof and chimneys would not count as " significant improvements '' per the loan 's owner, XXXX XXXX. We went back and forth on this for some time, and eventually they refunded my BPO fee and apologized for the misinformation they had provided and I moved on, figuring I could try again in a few months after the 2-year mark, after which point a 75 % or lower LTV ( which I knew I already had given the previous {$270000.00} BPO, resulting in a current LTV of 70 % ) would qualify me for PMI deletion.
In XX/XX/XXXX, I reached back out to them to re-initiate the process as my 2-year loan origination anniversary was XX/XX/XXXX. Rather than relying on the {$270000.00} BPO, which, as stated, places my current LTV at 70 %, they informed me that the previous BPO was outside the needed 120-day window and they would need to order a new one. That was understandable, so I consented ; however, for the new BPO, they utilized a new provider. The BPO this time came back insultingly low at {$220000.00} - {$45000.00} less than the BPO from just 8 months prior, and, shockingly, {$5000.00} less than the appraisal FROM THE TIME OF SALE in XXXX of XXXX. While home price increases appear to have cooled and even dipped slightly throughout XXXX, the inference that my property DECREASED in value by {$45000.00} ( almost 17 % ) in 8 months is patently ridiculous. Even worse, the inference that it decreased by in value by {$5000.00} over the past two years - much of which saw some of the highest price increases in history, and also during which time I put on a new roof and made other improvements to the property, is utterly preposterous. I should also note that the individual supplying them with the BPO didn't even come to the property- he sent an employee to take photographs. Per my review of the BPO, the properties used as comps were in far inferior condition to mine and likely, given market conditions, sold by motivated sellers looking to get out.
It's clear that PennyMac is engaging in fraud, and likely is picking and choosing low-balling appraisers in order to defraud their customers into additional PMI payments. I have to admit, the brazenness of their fraud is almost admirable - claiming a {$45000.00} drop in value over 8 months ( and {$5000.00} drop over two of the hottest real estate market years ever tracked, in a very stable market at that ) is almost unbelievable. I've paid hundreds of extra dollars each month for most of my time as a customer of PennyMac, and this is what I get - continued fraud and deceit.
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| 08/08/2016 |
Yes |
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- Loan servicing, payments, escrow account
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Web |
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Pursuant to a closing on XXXX/XXXX/16, mortgage lender, PennyMac was paid in full via an electronic funds draft from XXXX XXXX on the holiday XX/XX/XXXX in the amount of {$75000.00}. ( Verified received and posted by PennyMac on XXXX/XXXX/16. ) This is the payoff amount they furnished as being good through XXXX/XXXX/16. Yet, on XX/XX/XXXX, after being paid in full, PennyMac withdrew {$810.00} from my checking account. ( Statement enclosed. ) That same day, I spoke with PennyMac 's CSR, XXXX, regarding their error. She said she saw the duplicate payment for XX/XX/XXXX. She told me that she submitted a request for my refund to be " expedited '' per my request due to their unexpected withdrawl costing me NSF fees in my checking account. While waiting for my refund, the next week, I received a notice from PennyMac also dated XX/XX/XXXX, advising me that " any remaining funds in your escrow account will be mailed to you within 20 days from the date your loan payoff. '' As of XX/XX/XXXX, I had never received my " expedited '' refund of the duplicate mortgage payment nor the proceeds from the escrow account. I called again. This time, I spoke with a CSR named XXXX. She told me that the actual amount of the mortgage & {$1500.00} escrow refund that I would be receiving was {$2000.00}. I learned that no refund of the duplicate XX/XX/XXXX payment had ever been sent, " expedited '' or otherwise. I was told that included in this refund was only {$540.00} of the {$810.00} overpayment. PennyMac was keeping {$270.00}. The reason I was given, was that FHA allegedly requires a full month of interest be paid on all loans even if the loan was paid off on XX/XX/XXXX or first few days of a month - no pro-rated interest. She said they would be paying FHA this amount in XX/XX/XXXX for the paid off loan. I have no way of knowing if this is true or not. I have never seen that disclosed in writing, such as the payoff amount was. Is this true? Should n't they have been required to disclose that to me? Anyway, she said the check was in the mail. I still had n't received my refund by XXXX/XXXX/16, so I called again. This time, I spoke to CSR, XXXX. He said, that the check had been mailed out on XXXX/XXXX/16. Neither of us could understand why it would be taking so long. He said, he was emailing his supervisor to put a stop payment on the missing check. He said, they would send a replacement check via XXXX & that he would call me back with the tracking number. By XX/XX/XXXX, I still had n't received a callback from XXXX or anyone with the tracking number. I called & reached CSR, XXXX ( sp? ) who contacted XXXX. Later on XX/XX/XXXX, XXXX called, sounding somewhat irritated. He said he had n't called me back because he had n't yet received a tracking number back to give me. This was only supposed to take a few days. No more than a week, I was told initially. He said, they did stop the first check on XX/XX/XXXX. That check has still never turned up in the mail. As of today, XXXX XXXX, I am still waiting for XXXX to call me back with that XXXX tracking number. Since nothing I have been told by anyone at this company for over the last month has been true, I am starting to think I have been deliberately lied to & they have no intention of refunding me my money! I am retired and I do not have money where they can just keep my money like this for as long as they need, returning it if/or when they decide to. This whole thing has been wrong. Surely, there are government regulations governing timely disbursement of monies owed consumers by mortgage companies. I really need your agencies ' assistance in getting my refund. Thank You.
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| 04/25/2023 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
Servicemember |
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In XXXX, we refinanced our home with PennyMac. We elected not to escrow Tax & Insurance because we hold both in a high interest savings account and pay the full amount at the start of each year.
XX/XX/XXXX, PennyMac made a payment of {$7800.00} to the XXXX XXXX XXXX XXXX for the years property tax. This was not brought to our attention or approved by us, PennyMac did so out of their own accord.
It was not discovered until XXXX of XXXX. PennyMac withdrew an additional {$1500.00} on top of our mortgage principle & interest ( {$990.00} ) and we weren't sure why. I hadn't contacted PennyMac yet to question why. The county appraisal district informed us of PennyMac 's payment.
My wife and I went to pay our tax at the appraisal office XX/XX/XXXX. We were also there to submit a T & P tax exemption for a personal medical condition. As of XX/XX/XXXX, I am considered 100 % XXXX and XXXX XXXX due to XXXX and body related hinderances from military service. This change waives our property tax moving forward. It would be prorated for the XXXX year beginning in XXXX, roughly {$4500.00} to be owed.
I contacted PennyMac and asked why they made that payment without our authorization, and was told " we received the bill in XXXX, so it triggered an automatic payment in our system. '' I explained that should have never happened, we didn't have any money in an escrow account with PennyMac. I requested they reach out to the appraisal district and make things right, so my wife and I could make the prorated payment for XXXX taxes.
PennyMac denied our request. They instructed us to contact the appraisal district on our own and request that they refund the amount PennyMac paid, back to PennyMac. Once that happens, we would be required to pay the prorated amount directly to the county appraisal district. We contacted the CAD and were told PennyMac would have to submit that request, not us. They also explained it was very unusual for a loan servicer to make unauthorized payments.
In XXXX of XXXX, our monthly payment went from $ XXXX, XXXX {$2600.00}. This was to account for the {$7800.00} they paid to the XXXX XXXX XXXX XXXX, and additional funds for the XXXX tax period.
We have requested they cease the unauthorized escrow withdrawals, and to contact the XXXX, they reduced our payment to {$1300.00}, but refuse to put our account back to its original standing. Anytime I call, they claim to submit to the loan servicing team for further review, or they schedule a date to call us back. They refuse to send us confirmation emails or messages in our PennyMac portal, claiming they do not have access to either email or messages.
Since XX/XX/XXXX, we have paid PennyMac {$6000.00} in additional escrow fees per the statement reflected XX/XX/XXXX. {$9000.00} combined for XXXX from XX/XX/XXXX. Our payment amount should be at {$3900.00} for the year so far. {$9000.00} is where we should be at XXXX.
Needless to say, this is beginning to impact our finances. PennyMac is refusing to cooperate, fix their mistake, and readjust our account back to its original point. We have no issues paying CAD directly, but PennyMac has hindered our ability to do so by pulling so much from our account to " pay them back '' and to escrow next years Tax & Insurance.
It is noted in our closing disclosure that PennyMac may elect to pull escrow if we are delinquent in our tax payment. Our property taxes are due XX/XX/XXXX of each year. PennyMac made this payment on XX/XX/XXXX and sent notice we were delinquent on XX/XX/XXXX. We were not delinquent, and have made our property tax payment on time every year.
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| 05/06/2018 |
Yes |
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- Struggling to pay mortgage
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Web |
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I have an FHA mortgage loan and I am filing a complaint against PennyMac who is servicing my loan. Over the course of one plus year PennyMac has repeatedly denied me access to government homeowner assistance programs. They have refused to allow me to apply and have switched my assigned account manager several times and have told me that no one can assist me except my " account manager '' whom I am never able to reach. My hardship was temporary and I have been in a position to make my mortgage payment for some time but PennyMac won't consider any options and tried to schedule a foreclosure sale date. I have never had my current financial information reviewed for FHA homeowner assistance options such as loan modification, partial claim, special forbearance or repayment plan. Instead PennyMac has intentionally kicked me to the curb and denied me access to these programs they are required to consider me for.
I bought my home in XX/XX/XXXX with an FHA loan through XXXX XXXX XXXX but before I could make my first payment the servicing was transferred to XXXX. I work for the XXXX XXXXXXXX XXXX ( been there for 14 years ) now as a XXXX after 9 years as a XXXX. My job and income are stable. I live in my home with my XXXX year old daughter and have a XXXX year old daughter who is currently away at school. In XX/XX/XXXX my daughter, who is " XXXX XXXX '' began having some major problems that required my full attention. I was unable to work for a period of time and had lots of out of pocket expenses associated with this situation, and this eventually led to me defaulting on my loan. I immediately contacted PennyMac upon default to discuss my situation and my hardship, and was assigned an account manager who was supposed to " help me. '' I began contacting my account manager to find out what I could do to apply for assistance, and was given the runaround. I continued to request assistance and when I could not reach the account manager would leave messages that were never returned. Soon my hardship was over and I was in a position to make my mortgage payment again. When I contacted my account manager to discuss I was told that I had been reassigned. Once again I could not make contact with the new account manager or get any type of information. When I tried to make a mortgage payment I was told that I needed to talk to the account manager and that they would not accept a single payment from me, only all of the missed payments. As I frantically continued to try and make contact I was ignored, and when I finally reached someone I was told that my account had been reassigned AGAIN! This shell game continued for several months, even though I was back working full time and had the financial means to afford a fair and reasonable payment. This problem could have been easily solved but PennyMac continually kicked the can down the road and I made absolutely no progress. Soon I was in foreclosure and I desperately continued to try and get a review initiated. When I finally made contact I was told that I should be reviewed, but that now it was too late because a foreclosure sale date was scheduled. Even though I had not been offered the option of mediation as required by the state of New Jersey, even though I had never ever been reviewed for any homeowner assistance programs PennyMac had the audacity to go forward and schedule a sale date.
I am beyond frustrated. This is and has always been an avoidable foreclosure. I am still facing a sale date of XX/XX/XXXX. I want your agency to investigate the actions of PennyMac relating to the servicing of my FHA mortgage loan.
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| 11/13/2023 |
Yes |
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- Trouble during payment process
- Fees charged
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Web |
Servicemember |
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On XX/XX/2023 I discovered that {$1700.00} had been applied to our account. After weeks of questioning the mortgage company for details to no prevail, on XX/XX/2023 I filed a formal written request for a detailed invoice through the mortgage company message portal, and on XX/XX/2023 I filed a complaint with the XXXX XXXX XXXX After this complaint, I received a response and did get MINOR clarification regarding the matter, but the clarification was extremely minimal and a detailed invoice was not available. I was blatantly informed that although I do not have access to viewing the details of the charges, they are impossible to remove and that I would need to make some form of arrangement for them. I have been pressing for nearly 30 calendar days for a detailed invoice regarding the lawyer fees. Each time I have tried following up, I have been informed that either the mortgage company does not have it, or that they are investigating the invoice. They did end up removing {$600.00} for what they claim are invalid charges, but claim they are still investigating the rest which totals {$1100.00} It has been 40 calendar days since I made this discovery and started calling inquiring about details.
It has been XXXX calendar days since I placed a formal written request for the detailed invoice pertaining to these fees.
It has been XXXX calendar days since I filed a formal complaint with the Better Business Bureau in which I was told I would have a copy of the detailed invoice within 15 days.
It has been XXXX calendar days since they removed the {$600.00} in fees off of the original amount but without details on the remaining portion.
The mortgage company has placed charges onto my account without allowing me access to the details regarding this.
In addition, as is heavily outlined in the records that I have and have also provided to the mortgage company , the entire reason they claim to have needed hiring a lawyer is shortsighted anyway. The matter at hand was due to past-due property taxes for our county, which was a result of massive oversight and understaffed complications from the county. The matter with the county has been resolved in part by making a payment plan and is also being investigated with the assistance of our County Commissioner for the removal of excessive fees due to the extreme complexity of our tax situation and the complications caused by the staff within the tax assessor and collectors offices.
I had a payment plan in place and signed BEFORE our mortgage company even hired a lawyer, removing any legal concerns, and therefore negating the need to intervene, which is why a supervisor claimed to have removed the {$600.00} in fees so far.
Our situation is no doubt, complex. However, to charge fees to an account without allowing access to the details of those charges is preposterous because we as consumers are not even able to view them for accuracy.
To further aggravate the situation, the mortgage company labeled these fees as " Borrower Requested Title Work '' which is how they got missed until I started digging into our account in greater detail. When I inquired about the mislabeling and how misleading that looks, this multi-billion dollar corporation responded that they have limited drop-down options. This only looks shady and misleading as a company of this capacity should be able to afford proper drop-down bar options when labeling thousands of dollars of fees.
The company has been defensive, rude, abrasive, and dismissive, and refused me access to the details I need regarding fees applied to our account.
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| 11/14/2023 |
Yes |
- Credit reporting or other personal consumer reports
- Credit reporting
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- Improper use of your report
- Reporting company used your report improperly
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Web |
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XXXX, XXXX, and XXXX are reporting information on my credit report incorrectly. My only name is XXXX XXXX. My only address is XXXX XXXX XXXX, XXXX XXXX, FL XXXX XXXX XXXX my only job is XXXX XXXX XXXX and my only phone number is XXXX.
XXXX XXXX XXXX, XXXX XXXX, PennyMac Loan Services, XXXXXXXX XXXX XXXX XXXX department of education XXXX, XXXX XXXX XXXX XXXX XXXX XXXX XXXXXXXX XXXX XXXX, XXXX XXXX XXXX XXXX IS BEING REPORTED INCORRECTLY. ( Please see attached reports for account numbers ) After severe research and Accounting. I am a living woman. And need these matters resolve immediately. According to the Fair Credit Reporting Act 15 USC 1681 section 602 a states " There is a need to ensure that consumer reporting agencies exercise their grave.
responsibilities with fairness, impartiality, and a respect for the consumers right to privacy. '' XXXX and XXXX are consumer reporting agencies, and I am the Consumer. I have the right to make sure my private information isn't shared which is backed by 15 USC 6801 which states It is the policy of the Congress that each financial institution has an affirmative and continuing obligation to respect the privacy of its customers and to protect the security and confidentiality of those customers nonpublic personal information. '' ( Furnisher of information to credit agencies ) is a financial institution by definition under that title. 15 USC 1681 section 604 a section 2 states that " In general Subject to subsection ( c ), any consumer reporting agency may furnish a consumer report under the following circumstances and no other : in accordance with the written instructions of the consumer to whom it relates. '' ( Furnisher of information to credit agencies ) the financial institution and the Consumer reporting agencies XXXX and XXXX do not have my consent to furnish this information and they surely do not have my written consent. Any and all consent to XXXX, XXXX, ( Furnisher of information to credit agencies ) whether it be verbal, non-verbal, written, implied or otherwise is revoked. 15 USC 6802 ( b ) ( c ) states that " A financial institution may not disclose nonpublic personal information to a nonaffiliated third party unless the consumer is given an explanation of how the consumer can exercise that nondisclosure option. '' ( Furnisher of information to credit agencies ) Never informed me of my right to exercise my nondisclosure option. Not only that 15 USC 1681C ( a ) ( 5 ) states '' Except as authorized under subsection ( b ), no consumer reporting agency may make any consumer report containing any of the following items of information Any other adverse item of information, other than records of convictions of crimes which antedates the report by more than seven years. '' This account is an adverse item they are reporting again without my permission which is against the law. 15 U.S. Code 1681s2 ( A ) ( 1 ) A states " A person shall not furnish any information relating to a consumer to any consumer reporting agency if the person knows or has reasonable cause to believe that the information is inaccurate. 15 U.S. Code 1681e states '' Every consumer reporting agency shall maintain reasonable procedures designed to avoid violations of section 1681c of this title and to limit the furnishing of consumer reports to the purposes listed under section 1681b of this title. XXXX and XXXX are not maintaining reasonable procedures. Also 12 CFR 1016.7 states that " A consumer may exercise the right to opt out at any time. '' I am opting out of your reporting.
services.
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| 04/05/2019 |
Yes |
- Debt collection
- I do not know
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- Communication tactics
- Used obscene, profane, or other abusive language
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Web |
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I received the notice on the CFPB website that PennyMac and Company still working STATUS Company response is in progress as of XX/XX/2019 The company has responded that it is still working on your issue In some cases, companies need more time to respond. You should receive a final response within 60 days from the date we sent your complaint to the company. COMPANY 'S INTERIM RESPONSE PennyMac is actively researching the concerns raised by Ms. XXXX XXXX ; however, additional time is needed to determine the resolution. Ms. XXXX XXXX is currently researching the request, and will provide a resolution within the allocated time. Please be advised the name the woman property owner goes by is XXXX XXXX XXXX not Ms. XXXX please that is non-descriptive and could be confusing to whom is being addressed the woman or the entity? i am named XXXX XXXX XXXX.
I have been contacted by phone as a threat to be in collections more over they are calling my husbands/partner phone and are being rude and mean. Very unnecessary and unwarranted at this time. If you are doing the research for the Tender Of payment i am allowing you time to do so before filings for arbitration is filed due to the threats made by PennyMac. But please cease and desist all calls and contact your CEO office aka Back Office for further incite on the Tender of Payment.
Come now and notice that I the home owner! have not received a letter [ s ] from the CEO or Controllers from the Back Office of PennyMac Corp, or CEO or Controllers of XXXX XXXX agency concerning the decline of the Tender of Payment Offer. Please provide in writing your legal and or lawful reason [ s ] for not accepting the government obligations, bills of exchange, drafts, notes, trade acceptances, and bankers acceptances, because it is backed by the credit of the nation. A letter from the Research Department is not the proper channel for this type of payment because they do not know what the Tender Of Payment is!
A copy of the Tendered payment was mailed to the US Treasury and received for you to retrieve payment! Please note ; In the United States, a mortgage note ( also known as a real estate lien note, borrower 's note ) is a promissory note secured by a specified mortgage loan. Mortgage notes are a written promise to repay a specified sum of money plus interest at a specified rate and length of time to fulfill the promise. It's the promissory note that contains the promise to repay the amount borrowed. ( Learn more about promissory notes. ) While a promissory note is basically an IOU that contains the promise to repay the loan, the mortgage or deed of trust is the document that pledges the property as security for the loan. As i explained 3-603. TENDER OF PAYMENT. ( a ) If tender of payment of an obligation to pay an instrument is made to a person entitl
ed to enforce the instrument, the effect of tender is governed by principles of law applicable to tender of payment under a simple contract. ( b ) If tender of payment of an obligation to pay an instrument is made to a person entitled to enforce the instrument and the tender is refused, there is discharge, to the extent of the amount of the tender, of the obligation of an endorser or accommodation party having a right of recourse with respect to the obligation to which the tender relates. ( c ) If tender of payment of an amount due on an instrument is made to a person entitled to enforce the instrument, the obligation of the obligor to pay interest after the due date on the amount tendered is discharged.
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| 08/03/2021 |
Yes |
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- Struggling to pay mortgage
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Web |
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In XXXX we applied for a FHA Mortgage through XXXX XXXX XXXX, in the application process I was not put on the Title or deed, and was listed as a non-occupant. The loan was processed then sold to XXXX XXXX XXXX. We made payments on that loan and refinanced with XXXX XXXX in XXXX with a FHA 30 year fixed at 4.5 %. In XXXX of XXXX we were advised by our Bankruptcy Attorney Mr. XXXX to obtain a payment history and let PennyMac know we wanted to honor/reaffirm the Mortgage. We told 3 customer service people we wanted to reaffirm who stated we could not due to the case not being filed yet. We testified at the hearing that we wanted to honor/reaffirm the Mortgage but PennyMac did not show. The Attorney did not contact Penny Mac to reaffirm. I later learned that PennyMac had hired XXXX XXXX a XXXX XXXX agency who sent our Lawyer a letter offering a Modification of Mortgage, which we never was told about. XXXX XXXX also made a written appearance as counsel for Penny Mac XXXX XXXX did not allow for reaffirmation and included the mortgage in the discharge in bankruptcy in XX/XX/XXXX. In attempting to refinance in XXXX of XXXX we were told the Mortgage was XXXX in Bankruptcy and no payments were showing up on the credit reports. I called XXXX on numerous occasions about this issue to no avail. Their legal counsel and my counsel had both refused to contact each other to reopen the case to reaffirm. XXXX XXXX refused to report the payments which we continued to pay until XX/XX/XXXX. In XX/XX/XXXX, we attempted to sell the house and I learned of XXXX XXXX listed me as a non-occupant committing fraud to the HUD/FHA. I learned I was not on the deed, title or insurance. My wife also filed for divorce. I stopped the sale of the home and hired a divorce attorney. I have been XXXX since XXXX and my wife had supported me and made the payments until XX/XX/XXXX. I enrolled into the Forbearance program until I could get XXXX. XX/XX/XXXX the divorce became final and I was awarded the home. I contacted XXXX and sent them the quit claim deed with the register of deeds, the divorce decree and the township tax documents and requested she be removed from the Mortgage and they refused. I went up the ladder with numerous hours on the phone over these issues. In XXXX, XXXX I explained to them I was XXXX and applied for XXXX and told them my medical issues. The Civil Rights Department is investigating them under the ADA act because I was told that even if you get XXXX you couldn't afford the mortgage and we could demand the full note. I was approved for XXXX XXXX in XX/XX/XXXX. The same day Social Security had approved me for widowers benefits and canceled the {$790.00} XXXX I now receive {$1600.00} on the XXXX of each month. I called Penny Mac and requested to be taken out of the for-barance program and they took {$770.00} out of my bank account. I had asked as I was told to do by their prior customer service to add the mortgage payments to the end of my Mortgage where 10 payments of {$770.00} were not made. They refused. Instead they want me and my ex wife to sign a second mortgage and allow a lien on the house in what they call a partial claim with unknown payment amounts starting on XX/XX/XXXX. If we do not sign and return their proposal, they threatened collections and forclosure on the home, contrary to the Cares Act. Again the Mortgage Company is doing everything it can to make life difficult to obtain my home which is now worth XXXX in todays market. They have been told my ex wife will not sign.
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| 08/22/2016 |
Yes |
- Mortgage
- Conventional fixed mortgage
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- Loan servicing, payments, escrow account
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Web |
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In XXXX successive years, PennyMac made erroneous duplicate payment to different insurers for home insurance. XXXX of the policies had been cancelled, however the insurer continued to request payment from PennyMac without my knowledge or blessing. I only discovered this error when I got XXXX renewal requests, including XXXX for the cancelled policy.
Upon contacting PennyMac, their representative told me that they needed the insurance company to tell them the policy was cancelled and that I was not able to effect any change on my own behalf.
Although I strenuously disagreed with this assertion, I asked the old insurance company to contact PennyMac and ensure that the policy was cancelled. Unfortunately, neither PennyMac nor the insurer between them were able to effect the necessary change despite my instructions, and in XXXX the request to pay the premium for the cancelled policy was honored once again.
Since PennyMac is the custodian of my escrow funds, is responsible for upholding proper accounting practices and had been properly advised of the errors in duplicate payments I reasonably hold them accountable both for the accounting errors that allowed them to pay for XXXX policies at the same time and for failing to honor my instruction not to pay for the cancelled policy. As a result of these XXXX erroneous payment, not only was the Escrow account thrown into chaos, but fees and charges have been levied quite inappropriately.
I have been working for three years to resolve the fallout from these errors. During this entire time, I have never missed or been late with a payment. PennyMac, however, continues to levy fees and charges as if the account were in default due to some action of mine.
I was encouraged last year, when I finally made contact with XXXX individual who took ownership of the errors in the Escrow account, audited the account and returned funds that had been overpaid. I was provided a new monthly payment amount which has been the basis for the payments I 've made since XXXX XXXX.
Incredibly, while the Escrow accounting was being corrected a different branch within PennyMac chose to begin instigating punitive measures. I am still unable to get in touch with anyone who can grasp the simple facts of this situation and perform the same audit on the main account, consistent with their own Escrow audit.
Since I last replied to PennyMac, there have been no further communications and no action, other than negative credit reporting and an influx of mortgage relief letters. As I have repeatedly stressed, he actual money is no impediment to resolution, the only barrier is being able to determine an accurate standing of the account.
No-one at PennyMac who answers a phone takes ownership or does what they say they will. I have taken to writing letters so that I have a record of resolution attempts, however after initially asserting infallibility, PennyMac now no longer replies to written communication either.
In summary, despite continuing to make my full monthly mortgage payments, each month sees PennyMac inventing new fees and charges to apply to my account, now amounting to thousands of dollars, all because they made serious professional errors and have proven themselves incapable of engaging in meaningful, intelligent communication to resolve the problems accurately. PennyMac simply assert that their processes are infallible and insist that I take responsibility for anything they decide to add to the account as a fee, levy or fine
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| 03/09/2016 |
Yes |
- Mortgage
- Conventional fixed mortgage
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- Loan servicing, payments, escrow account
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Web |
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This mortgage loan originated with PennyMac Loan Services in approximately XXXX XXXX to purchase a new construction home for the address above. All parties to the transaction, including PennyMac were aware that the collateral for this loan was new construction. The first year taxes for this loan were paid on the land value only ( as normal with new construction ) and as both PennyMac and myself were aware, for the second year taxes would be calculated on the land value plus improvements to the property, which would cause the amount due for taxes to increase. When I received my escrow analysis from PennyMac dated XXXX/XXXX/XXXX, I received a surplus refund check from them in the amount {$1600.00}. My first thought was to review the amount they were collecting for my taxes, knowing that this amount would increase with the value of the improvements adding on due to the new construction. In reviewing the escrow analysis, it appeared that they had taken that into account on the new escrow analysis as they increased the amount they were anticipating to disburse for taxes by nearly XXXX % from {$480.00} every 6 months to {$1300.00} every 6 months. Then, in my XXXX/XXXX/XXXX monthly statement from PennyMac I noticed a County Tax distribution on XXXX/XXXX/XXXX in the amount of {$2900.00}. Seeing this amount caused me to look even deeper at my statement and I noticed a negative Escrow balance of {$540.00}. Looking more closely at the monthly Escrow payment of {$260.00} made it obvious that the escrow account was going to be significantly short to pay this amount again in another 6 months. It quickly became obvious to me that PennyMac had significantly underestimated the amount of taxes that would be coming due and were not collecting anywhere near the correct amount for expected taxes. To make matters even worse, I had not heard one word from PennyMac on this, in order to let me know there was an issue with the escrow account. This type of action by PennyMac is putting an enormous undue burden on me as the borrower due to their inadequate escrow analysis process relating to new construction. It pains me to think about what the situation would have been down the road had I not reached out to PennyMac when I did to have them run a new escrow analysis and get this straightened out. I reached out to PennyMac regarding this issue and made an attempt to have them rectify this situation. I was very displeased with the way they have not adequately addressed my situation at all. In speaking with their customer service agent XXXX, who refused to give any information about himself other than a first name, I got absolutely nowhere. He stated that the only thing he could do regarding this is look to spread out the escrow shortage over more years. This does nothing to lower the impact of what I would have to pay to clear this issue. It only spreads the pain out for a longer period of time. This is an insult to me as the borrower and makes me feel like PennyMac believes they can treat me as if I am an ignorant, uneducated borrower. As previously stated, they are more than happy to sit back and collect my monthly payment through auto debit each month with very little effort on their part, but then the first time assistance and help is needed from their side, it is nowhere to be found. I believe that my mortgage servicer has an obligation to protect their borrower and do their best to have adequate checks and balances to ensure they are not causing undue harm to their borrower.
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| 11/08/2022 |
Yes |
- Debt collection
- I do not know
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- Took or threatened to take negative or legal action
- Seized or attempted to seize your property
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Web |
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Letter of Objection to XXXX XXXX XXXX New York for XXXX XXXX where my Note and the Mortgage are purportedly held ; and alleged Servicer PennyMac Loan Servicing, LLC in Non-Judicial Sale States.
Dear XXXX XXXX XXXX New York : I am in receipt of Notice of Foreclosure sale dated XX/XX/XXXX I hereby object to the Notice and request that you send a copy of this letter to your insurance carrier and all other interested parties as described herein for the following reasons : 1. There is no delinquency or default. The Lender has been paid in full plus a fee for standing in for an undisclosed third party lender that was not properly registered or regulated as a financial institution or lender at the time the transaction took place.
2. The Lender has failed to state the name or address of the holder in due course, XXXX XXXX XXXX, being the holders of certificates of asset backed securities, which are backed by the security instrument ( mortgage ) on the subject residential property.
3. The Lender does not own, possess or control the note or the mortgage, which has been satisfied in full. Demand is herewith made for satisfaction of mortgage to be filed in the appropriate county records.
4. Your authority as Trustee has also been transferred to the Trustee of the pooled mortgages and/or notes on various properties, real and personal, that were included in an asset pooled that was eventually securitized and sold to investors, who along with others in the chain of securitization acquired rights and obligations to the note, mortgage, and stream of revenue eventually due to the investor.
5. Nobody can provide me any evidence which relationship has PennyMac Loan Servicing, LLC whom other companies, XXXX XXXX XXXX and XXXX XXXX XXXX XXXX position as servicer for someone whom neither XXXX or anyone who act under this name can identify. Based on XX/XX/XXXX, my alleged loan is in XXXX XXXX XXXX, pooled security XXXX.
XXXX. Because of the known presence of necessary and indispensable parties to any dispute that the true holders in due course might have against me, only a judicial proceeding in which all parties are included will provide a fair determination of the rights, obligation and title to the property, mortgage and note.
6. The loan closing was in fact a scheme to trick me into issuing a negotiable instrument that was pre-sold to investors as an unregulated security. The parties and their fees were not revealed nor was the true XXXX disclosed, as it was inflated considerably by the intentional overstatement of the appraisal on the property. I submitted my TILA rescission Notice on XX/XX/XXXX.
7. The title agent, which might well be the same as the Trustee also has insurance for errors and omissions and the title insurance company that issued the policy will have total liability for this fraudulent transaction to the extent it had knowledge through its agents of the fraudulent scheme. The totality of the transaction violates numerous state and federal laws including usury, Truth in Lending, deceptive business practices, and administrative standards for the practice of professions.
Therefore, please confirm the filing and recording of the satisfaction of mortgage, send the original note back to me ( or tell me where it is ), and confirm the retraction of the attempt to collect a debt which is incorrectly stated, improperly computed, improperly obtained, and fraudulently produced and transmitted.
Sincerely, XXXX XXXX
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| 04/24/2022 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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For over a year now, I have been receiving harassing letters from PennyMac regarding my Homeowners Insurance.
1. On XX/XX/XXXX, I received a letter dated XX/XX/XXXX ( see attached ) regarding not having a record on my Homeowners ( Hazard ) Insurance. I immediately sent them email the same day and attached XXXX XXXX XXXX XXXX XXXX Policy # : XXXX covering the period XX/XX/XXXX to XX/XX/XXXX ( see attached ).
2. On XX/XX/XXXX, I received a letter dated XX/XX/XXXX ( see attached ) confirming that I have provided " evidence of hazard insurance coverage '' 3. To my utter surprise and shock, I received a letter dated XX/XX/XXXX on XX/XX/XXXX claiming that their " records still show that there was a lapse in coverage from XX/XX/XXXX to XX/XX/XXXX '', and that " An insurance charge of {$4200.00} may be charged to [ my ] account for the time period that the coverage was in force ''.
3. Their own letter of XX/XX/XXXX attached was clearly confirmed evidence of hazard insurance coverage. I therefore, attached my XXXX Insurance Policy # : XXXX for the XX/XX/XXXX to XX/XX/XXXX with XXXX XXXX as lender to show PennyMac it is sad my original lenders ( XXXX XXXX XXXX XXXX dba theLender ) transferred my payments to them never complained about my XXXX XXXX policy.
4. Following a review of my protest PennyMac trying to destroy me came back with the following in their letter of XX/XX/XXXX : At the time your loan was transferred to Pennymac, the policy was boarded incorrectly as a homeowners policy and that ... due to this oversight, you will not be required to provide evidence of homeowners insurance from XX/XX/XXXX through XX/XX/XXXX, nor will your account be charged for this period. However, you will need to provide evidence of homeowners insurance from XX/XX/XXXX through XX/XX/XXXX ''.
5. As a consumer who has regularly paid my Homeowners Insurance as I understand since acquiring my house in XXXX without any problems and having been with other Lenders since XXXX with XXXX XXXX XXXX policy # : XXXX XXXX coverage, I found PennyMac to be unfair in dealing with me by claiming that they found my coverage inadequate even after they made a mistake At the time [ my ] your loan was transferred to Pennymac, the policy was boarded incorrectly as a homeowners policy ''.
6. How does PennyMac expect me as a consumer to know the difference when all I have known over the years is that I was buying Homeowners Insurance and none of my previous Lenders have complained?
7. And how fair is it for them to try to harass me and collect monies retroactively for a policy covering XX/XX/XXXX through XX/XX/XXXX when they would not have paid any claims to make up for the XXXX XXXX they now consider inadequate?
8. In fact, my current homeowners insurance with XXXX XXXX of {$2000.00} covering XX/XX/XXXX through XX/XX/XXXX which PennyMac finds acceptable is only {$260.00} higher than the XX/XX/XXXX through XX/XX/XXXX policy of {$1800.00} with XXXX XXXX XXXX XXXX which they find unacceptable. The higher XXXX XXXX policy can easily be attributed to the fact that homeowners insurance coverage in Texas has gone up due to the recent damage of some homes during the XXXX cold weather.
It is clear from above that PennyMac is trying to take advantage of me and cheat me by retroactively trying to collect over {$4000.00} over the period XX/XX/XXXX through XX/XX/XXXX from me and the intervention of the CFPB will be critical to stop this injustice.
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| 08/15/2020 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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I received a letter from PennyMac " Escrow Account Disclosure Statement '' dated XX/XX/2020. This letter stated that we would be having a significant shortage in our escrow account, and would need to pay an additional {$1100.00} per month to rectify this shortage. That would be a total of {$13000.00} this year, and it would be increasing our monthly payments by over 50 %. This letter came as a total shock ; we knew that our tax payments would be adjusted, but this was a serious change.
I reached out to PennyMac about this by phone twice ( XX/XX/XXXX and XXXX, XXXX ) and also contacted via their online message portal at the PennyMac website on XX/XX/2020. When I first made contact, I was told that these issues are typically resolved or at least followed up within 10 business days. However, it is now XX/XX/2020 and I have not received a single response from PennyMac about the issue. My mortgage payment is due to increase by {$1100.00} for my next payment on XX/XX/XXXX. Each time I contacted PennyMac, I told them it was imperative that I get this issue rectified before my mortgage gets increased by such a high amount.
I did my own research with the XXXX XXXX XXXX, where my tax bills had been paid, and got to the root of the problem. I have documentation from the tax assessor in XXXX that gives a full description of the issue and suggestions for how to rectify it, but I need PennyMac to give me a response so that I know how to proceed. I can't do anything without their action, and they have not responded to me at all. I will offer a description of the issue that has caused our tax problems below : My home is a new construction. It is the 'B ' side of an attached Single Family Home, and I know that my neighbor at the 'A ' side has the exact same problem. The property here has been assessed at about $ XXXX for each side of the house. The house that had been here before was a small Single Family Home that was assessed at $ XXXX. We bought the home from a builder, who had paid the unadjusted tax rate for a property worth $ XXXX, when in fact the two new properties were worth a combined $ XXXX at the time we began ownership. As such, the taxes had been under-assessed when the construction company had ownership of the property and should have been adjusted to be paid by that owner. The tax adjustment for Q3XXXX happened in XXXX when we owned the property, and somehow the city billed us for an entire year within the two quarters we actually owned the house. Our tax rate should be just about {$6000.00} for the year, or {$1500.00} each quarter, but we were charged twice that amount, {$3000.00} for Q3 and Q4 XXXX. The tax record had somehow lapsed and not taken into account that we only owned the property for two quarters. This caused a negative balance in our escrow account which is the root of the issue.
We need PennyMac to rectify the tax issue with the XXXX XXXX XXXX and possibly with the previous owner who we bought the property from. We need PennyMac to give us an accurate adjusted escrow analysis once the issue is resolved. Their failure to even respond within the timeframe that they told me has made me raise the issue to the CFPB.
I am attaching the following documents to support my case.
" Escrow Account Disclosure Statement '' letter from PennyMac Tax bills from XXXX XXXX XXXX for the entire time I have owned the property Email from the XXXX XXXX, Principle Residential Assessor, XXXX XXXX XXXX
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| 04/01/2020 |
Yes |
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- Trouble during payment process
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Web |
Servicemember |
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I am a XXXX military XXXX veteran whom currently has an VA Refinance Mortgage Loan in good standing with PennyMac Loan Services , LLC . This is a loan that I re-financed, going from XXXX XXXX to XXXX XXXX XXXX XXXX XXXX on XXXX, whom then, immediately sold my mortgage loan to PennyMac Loan Services , LLC . My previous unsuccessful attempts to resolve their accounting office 's XXXX to XXXX misapplied Bi-weekly Monthly Mortgage payments and also the misapplication of my additional twice monthly separate individual {$300.00} Principal Only payments and an invalidly issued XXXX 1098 Mortgage Interest Statement noting {$0.00} paid Mortgage Interest when i actually did pay Mortgage Interest each month and an unjustified attempted foreclosure of my property, led to my filing first, XXXX XXXX XXXX Complaint # XXXX, on XXXX, XXXX, and, afterwards, a CFPB Complaint # XXXX ( XXXX ), filed on XXXX -- XXXX, XXXX.
PennyMac 's assigned rep to review and resolve these complaints, XXXX XXXX, contacted me and subsequently addressed both of my misapplied payments issues. He also initially resolved their invalidly issued Corrected XXXX 1098 Mortgage Interest Statement showing {$0.00} paid ... .corrected with a new Corrected on dated XXXX. But, today, PennyMac, issued me a 3rd Corrected XXXX 1098 Mortage Interest Form dated XXXX, again invalidly stating that I never paid any XXXX mortgage loan interest ... when I did pay XXXX mortgage interest.
A day after filing my XXXX complaint on XXXX, XXXX, PennyMac unjustly hired a Connecticut-based lawfirm, XXXX XXXX XXXX, to attempt an unjustified foreclosure of my property 's in good standing mortgage loan -- -for which I factually ... was multiple thousands of dollars ahead in payments on. Their hired firm, XXXX XXXX XXXX, both contacted me by mail, and through the Rhode Island Housing. PennyMac 's hired lawfirm asked me to come to foreclosure mediation with them, for which, Rhode Island Housing, would be deciding whether to grant PennyMac 's desired foreclosure certificate. I found this out when RI Housing sent me a XXXX, XXXX letter requesting my contact them to attend such. On XXXX, XXXX, when I called PennyMac ( spoke to XXXX in Collections, about XXXX XXXX ), he said PennyMac would send me a letter affirming my mortgage loan is in good standing, but PennyMac never sent me one. On XXXX, XXXX, after I explained ( via e-mail ) the actual financial facts of my PennyMac mortgage loan being in good standing to PennyMac 's hired lawfirm, XXXX XXXX XXXX, backed off, acknowledging my mortgage loan being in good standing via e-mails they sent me. I have on multiple occasions, called PennyMac 's assigned rep, XXXX XXXX, multiple times ... leaving messages for him asking for him to please update his recently sent me XXXX, XXXX letter, where within ... he / PennyMac, only addressed their five months of misapplied payments being fixed for me. I left messages kindly asking, XXXX XXXX, to please 'add in the owed apology as it specifically relates to their ( PennyMac 's ) unjustified foreclosure action ' and for him send me the updated letter. When I called his PennyMac phone number today, XXXX, XXXX, XXXX-XXXX-XXXX-XXXX, to his agent phone extension XXXX, their phone system states 'do not recognize your entry ' ... It seems Mr. XXXX is no longer reachable for PennyMac to resolve my initially filed XXXX CFPB complaint and the XXXX complaint in full.
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| 12/14/2022 |
Yes |
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- Trouble during payment process
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Web |
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XXXX XXXX XXXX XXXX XXXX XXXX XXXXXXXX XXXX XXXXXXXX XXXX XXXX My complaint is against penny Mac It seems like I'm giving the run around when it comes to the homeowner assistance fund from XXXX.
On XX/XX/2022 a phone call was placed to pennymac on regards to make sure that the mortgage payment they receive from XXXX ( XXXX XXXX XXXXXXXX ) was applied to our mortgage payment and not the Principal. During the phone call conversation with pennymac, we learn that the XXXX has sent them partial payment, and not the full payment. That we was short and making our mortgage payment for XX/XX/XXXX. That we only had until XX/XX/XXXX to make a payment before we get charged a late charge. Plus they requested a payment from us yesterday.
We knew that I seem questionable. Because XXXX would not have sent a partial payment. Which makes matters more worse, is that last month when we spoke to a rep at pennymac, We was told we had over a {$1000.00} credit on to the account. That we was told once XXXX makes all their payments for the next 6 months, we will still have credit of over {$1000.00}. To still use for payment.
Call was made to XXXX today, asking them why partial mortgage payment was made instead of the full payment. Because that what pennymac said XXXX gave them.. XXXX ( HAF ), said pennymac receive the full payment and not partial. Penny Mac made us look stupid for calling XXXX to find out why they made a partial payment when they did never did.
Then we call back pennymac today, with XXXX on the phone on 3 way calling. Now pennymac change the story said we receive full payment. However, pennymac said they didn't apply the full payment to the mortgage payment, that out of that payment, they decided a part of that money had to be apply to something else. They was not fully clear what something else was. XXXX told them the money they sent was to apply to entire mortgage payment. That day wasn't not allowed to do whatever they wanted to do with that mortgage payment.
On top of that we asked him what happened to that over {$1000.00} credit, Now they tell us they don't know what happened to that credit. They don't know where it is now. How is it that you do not know what happened to the credit that was applied to the account.
This it seems like pennymac is very shady and how they doing things. The executive office needs to know what's going on and follow up to see what is happening to people 's accounts. There has been a number of complaints about penny Mac on its own, From the people who did receive the homeowner assistance fund. On social media there has been numbers of people complaining about penny Mac about what they keep doing when they receive the homeowner assistance fund. People are stating they are not applying it to their mortgage payments and doing whatever they want to do when they receive the money. There needs to be a full investigation on this to see exactly what's going on. They are receiving these funds and it should be applied to people 's mortgage payments. Yet they taken it for whatever they wan na apply it to.
Knowing the rep could not help us. We was told we would have to wait for somebody who's assigned to account to give us a call to find out what happened. The customer service representative could not even explain what happened. It seems like the story that the representative was stated was all over the place. Could not get the story straight.
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| 01/12/2023 |
Yes |
- Mortgage
- Conventional home mortgage
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- Improper use of your report
- Reporting company used your report improperly
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Web |
Servicemember |
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YOUR COMPLAINT PENNYMAC LOAN SERVICES, hereinafter called alleged lender claims that they lent their money ( Account Number XXXX ) to XXXX XXXX, hereinafter called the affiant and have filed a delinquent credit report to XXXX on XXXX XX/XX/2022 and also on XXXX XXXX, and with XXXX XXXX on XXXX XX/XX/2022, without my consent. Alleged lender claimed to affiant that the alleged lender would charge interest as compensation for lending affiant the alleged lenders money. Financial institutions CPA audit opinions claim that financial institutions involved in issuing alleged loans or loans follow Generally Accepted Accounting Principles, XXXX. There is a dispute regarding who loaned what to whom regarding the alleged loan. The alleged lender claims that they lent affiant their money. The alleged lender claims that the alleged lender has loan papers with the affiants name on it as evidence of a debt. The bookkeeping entries show the opposite and that the affiant was the lender and that the alleged lender was the borrower : According to XXXX, this is what happened : the alleged lender and financial institution involved in the alleged loan never lent XXXX cent to the affiant as adequate consideration to purchase the affiants promissory note. The affiant first became the lender to the alleged lender and the alleged lender was the borrower. According to XXXX, the bank recorded the promissory note as a bank asset offset by a bank liability. The promissory note was recorded as a bank asset in exchange for credits in the affiants transaction account or to give value to a check or similar instrument. The matching principle in XXXX requires that there be a matching liability offsetting the promissory note recorded as an asset and that the liability shows that the bank/alleged lender owes the alleged borrower money for the promissory note that was lent to the bank or alleged lender. The promissory note was deposited in a similar manner as cash is deposited into a checking account. Depositing cash or a promissory note into a checking account or a transaction account is the same or similar to loaning the alleged lender the cash or promissory note. According to XXXX, the promissory note was deposited as a bank asset offset by a bank liability with the bank liability showing that the alleged lender owed the affiant money for the promissory note that was received from the affiant and deposited. When the bank deposited the promissory note and credited the affiants transaction account, the alleged lender, the one who claims they own the promissory note, recorded a loan from the affiant to the alleged lender, making the affiant the lender and the alleged lender the borrower. The alleged lender returned the equivalent in equal value of the loan to the affiant, XXXX XXXX, the lender per XXXX. When the money was repaid to XXXX XXXX, the true lender per XXXX, the alleged lender claimed that the repaid money was a loan to a borrower named I, XXXX XXXX and ignored the bookkeeping entries which proved the XXXX XXXX of who lent what to whom. The alleged lender claims to be the lender using a promissory note to claim they lent money to the affiant but XXXX shows that the opposite happened. The alleged lender did the opposite of what the affiant, XXXX XXXX understood and believed was to happen, creating an economic effect similar to stealing, counterfeiting and swindling against the affiant, XXXX XXXX.
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| 11/08/2022 |
Yes |
- Debt collection
- I do not know
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- Took or threatened to take negative or legal action
- Seized or attempted to seize your property
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Web |
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XXXX XXXX XXXX XXXX XXXX XXXX MI XXXX SENT via E- MAIL and CFPB submission.
Respond REQUESTED RE : XXXX XXXX, loans numbers XXXX ; VA number XXXX ; XXXX ; XXXX ; XXXX purportedly pooled with XXXX XXXX XXXX XXXX, where XXXX XXXX XXXX XXXX is a Trustee.
Dear TRUSTEE XXXX XXXX XXXX XXXX, and alleged " servicer '' PennyMac '' I HEREBY EXERCISE MY RIGHTS TO RESCIND THE LOAN TRANSACTION IN ITS ENTIRETY UNDER THE THREE DAY RULE, THE THREE YEAR LIMITATION, [ which starts from discovery ] AND UNDER CONTRACT FRAUD ; FRAUD BY INDICEMENTL THE USURY AND GENERAL CLAIMS THEORIES AND CAUSES OF ACTION.
BY FAILING TO DISCLOSE THE TRUE LENDER AND USING SUBTERFUGE TO HIDE THE FACT THAT THE LENDER AT CLOSING WAS PAID TO POSE AS THE LENDER WHEN IN FACT AN UNDISCLOSED UNREGISTERED THIRD PARTY HAD RENTED THE CHARTER OR LENDING LICENSE OF THE LENDER, THE LIMITATION ON MY RIGHT TO RESCIND WAS EXTENDED INDEFINITELY. UNDER STATE AND FEDERAL LAW, THE MORTGAGE IS NOW EXTINGUISHED AND YOUR RIGHTS UNDER THE TRUSTEE DEED HAVE TERMINATED.
I hereby rescind the above referenced loan and/or declare it to be null and void and demand treble damages for the face value of the note, on the grounds set forth below : 1. Fraud in the inducement : Borrower reasonably relied to borrowers detriment upon the representations and good faith estimates and the duty of the mortgage broker and lender to act within their duties as fiduciaries and representatives of the borrowers in executing a loan that was vastly different from the loan the borrower was promised or reasonably believed to be the case at the loan closing.
2. Fraud in the execution : Borrower reasonably relied upon the representations and good faith estimates of the parties at the loan closing and was tricked into issuing what became a negotiable security from which the participants received fees and profits far in excess of their normal remuneration. The participants at the loan closing knew that the borrower believed that the borrower was merely entering into a loan closing when the borrower, without his knowledge or consent was in fact issuing what would be used as a negotiable security to commit fraud upon other third parties.
3. Usury : The appraisal fraud resulted in an undisclosed cost of the loan, in addition to the loss of earnest money, costs of closing and after-purchase expenses and costs that raised the cost of the loan well above standards set in this state for usury. No exemptions apply because ( 1 ) the real lender was not a bank or other registered or chartered lender nor even a party registered to do business within this state and ( 2 ) the transaction was in fact a securities transaction in which the rights of rescission were ignored and undisclosed.
4. PAYMENT : The lender was paid in full before, during or immediately following the loan closing by an agent of the real lender. To this was added a fee of approximately 2.5 %. If there was or is a party that is a holder in due course of the note and who has not been paid by reserves, overcollateralization, credit default swaps, insurance, or cross guarantees, then demand is herewith made for the name ( s ) of such holder ( s ) in due course and their contact information.
This General Rescision Notice is in addition to my XX/XX/2022 TILA Notice which you still failed to acknowledge.
PLEASE GOVERN YOURSELVES ACCORDINGLY!
SINCERELY.
XXXX XXXX XXXX Right of rescission
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| 12/16/2022 |
Yes |
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- Struggling to pay mortgage
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Web |
Servicemember |
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On XX/XX/XXXX, I spoke with my VA loan Technician upon which he told me that the VA had allowed for up to 18 months of forbearance. At first, Pennymac refused to give me any other extension even after I mentioned the VA allowable 18 months. They were insistent on talking to the loan modification team or begin the foreclosure process while maintaining that they were well within their right.
I relayed PennyMac 's response to my loan technician to which he stated he would remind them of the law. Upon sending in a copy of the memo to the mortgage company, PennyMAC, a 3-month extension was granted. This brought up the total months to 15 months. When I called to extend for my last 3 remaining months XX/XX/XXXX. They informed me that I did not qualify for another 3 months, I had mentioned the 18 months and they denied my request. XX/XX/XXXX, I called my Loan technician to ask for assistance and he sent them a notice asking for the 3 month forbearance extension as allowed by the VA. I called the company again XX/XX/XXXX asking if the loan technician had came in contact with them and they had spoken to their supervisors and again denied my extension and did not mention any talks about my VA loan technician.
Pennymac continued to push for loan modification options. At one point, I spoke with Pennymac to inquire whether they had received my loan technician 's information to which no clear answer was given. What was given was a push to talk to a special department, I had declined because I did not want to get pressured into an option. Especially, since PennyMac was insistent that I accept loan modification or begin the foreclosure process in XX/XX/XXXX and because I wanted to receives PennyMac 's response to my Loan technician 's inquiry.
A PennyMac then implied that there would be consequences if I did not want to speak to the special department on that day XX/XX/XXXX or XXXX. After I declined to speak with the special team the PennyMac stating that I would wait for Pennymac to reply to my Loan technician 's inquiry. The PennMac rep then said, " are you telling me you are declining to speak to a team '' I asked for him to explain what he meant by declining to which he said stated he needed to record my denial/rejection, to which I stated are there penalties for not choosing to speak to their special department. I found this to be an intimidation tactic by Pennymac.
I called my loan technician again asking for an update, to which he informed me that he had reached out, and would do so again on XX/XX/XXXX. On XX/XX/XXXX he called to inform me had in fact reached out to them and that if they did not want to honor the law to inform consumer finance. XX/XX/XXXX I called again stating that there might be a confusion but Pennymac insisted that they were within their right.
XX/XX/XXXX my technician reached out to me to ask for an update after informing him of what occurred and he mentioned again the consumer complaint system. On XX/XX/XXXX, I called to inform Pennymac of the situation and again they insisted they were in the right and that I should not have received the 3 month extension after 12 months to begin with and that the 18 months was reserved for people who applied for forbearance in XXXX. I informed Pennymac that I would be reaching out to consumer finance to file a complaint since there continues to be pushback on what the VA has stated that is allowable.
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| 12/09/2021 |
Yes |
- Mortgage
- Conventional home mortgage
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- Struggling to pay mortgage
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Web |
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On XX/XX/21 I completed my COVID-19 forbearance through my mortgagor, PennyMac Loan Services XXXX
On XX/XX/21 I received a call from my XXXX rep, XXXX XXXX stating that I could do a flex streamline modification and that the term of my loan would be extended to 480 months making my new payment {$1500.00}. Why I inquired about why the interest rate was not also being reduced to the XXXX XXXX rate of 2.875 % she stated that the it was because my payment was deemed affordable by PennyMac. I advised that according to XXXX updated guidance released XX/XX/21, the term should be extended AND the interest rate should be lowered to the lesser of the XXXX modification interest rate or the borrowers current interest rate. My current interest rate is 4.375 % which is higher than the XXXX XXXX rate as of XX/XX/21. XXXX could not explain why PennyMac was not lowering my interest rate per the guidance from XXXX so I informed her we needed to escalate the issue to someone who could explain. She transferred me to her supervisor XXXX XXXX. I explained everything to XXXX and he advised that PennyMac was not required to follow XXXX guidance because all that mattered was that my loan was a conventional loan. I advised him that was incorrect since XXXX owns my loan. I offered to send him a copy of XXXX so that he could review the updated XXXX guidance and he stated he could google it. After reviewing the letter, XXXX stated he agreed with what I was seeing and that I should not worry about the terms XXXX provided because my mod terms were not final and that the interest rate would be corrected and that I should wait until I have the final modification documents.
I received the modification documents late XXXX XXXX XXXX were dated XX/XX/21. The modification documents showed the same terms XXXX had provided. I again called to speak with XXXX but he was unavailable.
XXXX called me back on XX/XX/21. He did not remember our prior conversation so I reminded him of the XXXX guidance and my question regarding why the interest rate was not reduced. He stated that I could refinance after my trial payments. I told him that I shouldnt need to refinance and pay additional fees because the owner is my loan already said to reduce my rate. He again reviewed the letter from XXXX and said that my loan did not meet the XXXX which I advised was no longer a requirement for the flex mod that satisfies the reduced eligibility criteria. He stated he would need to review further and would get back to me. After not hearing back from XXXX timely, I called back towards the end of XXXX. XXXX said that he agreed with what I found regarding the interest rate but he had to follow his procedures and they had not been updated. I advised XXXX that the guidance was required to be in effect by XX/XX/21. He said that he would continue to review but that I should go ahead and make my first trial payment due on XX/XX/21 so that I was not reported delinquent. I have now made all 3 trial payments but my interest rate never changed and I never received an explanation.
There is no complaints contact information on PennyMacs website ( that I was able to find ) and the XXXX department has not been helpful. Although this complaint has to do with servicing rules, I feel there is regulatory applicability ( UDAAP ) because XXXX has been unfair and deceptive in getting me to complete a modification with inaccurate terms.
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| 08/25/2020 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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I am following up on a complaint that I filed previously. My trouble now, once again, is a lack of response from my loan service company PennyMac. The situation is extremely frustrating and I can never get a response from the people who are supposed to be working with me, so I am back here with the CFPB to try to make sure that I don't get gouged by errors that I did not cause.
My problem began when I received my Escrow Analysis form stating that due to a shortage in my escrow account, I would need to pay an additional {$1100.00} per month for the next year, or just under $ 14k to rectify the issue. Being that I have not even lived in my home for a year yet, I was concerned that there was no reasonable way that we could already be that far in the hole with our escrow, knowing that we have made our monthly payments on time. I had to do some research into the issue. It is a complicated issue with our taxes but I got a lot of information from the city tax assessor about how the problem began and possible steps to rectify it. However, to simplify the problem, we should be charged roughly {$1500.00} per quarter in our real estate taxes, we have been assessed and re-assessed by the city and our annual tax bill is in the neighborhood of {$6000.00}. However, due to complications in the nature of our home and the sale, we were mistakenly charged {$3000.00} in our Q3 and Q4 payments. As I have confirmed with the city and explained to PennyMac, we should never have been charged {$3000.00} per quarter, any time that we were charged that amount was a mistake. This mistake drained our escrow account and caused the shortage that generated PennyMac 's Escrow Analysis letter that got me digging around.
To further explain the tax problem, you need to understand something. My home is a new build, an attached Single Family Home with an A side and a B side separated by firewall. I am the first owner of this property as it is. Before the construction of these two properties, this was one much smaller Single Family Home. For tax record purposes, the A and B sides of these two properties did not exist until we bought the property, it had all been one SFH worth about $ XXXX and now it is 2 SFHs worth about $ XXXX apiece, or $ XXXX total. Somewhere in the breakdown of the old property, the creation of two new properties, and the transfer of ownership of these properties, the city and PennyMac made a mistake. I need to have this mistake rectified ASAP. I have been trying to get a response from PennyMac since XX/XX/XXXX, knowing that my monthly mortgage payments would be increasing by {$1100.00} beginning on XX/XX/XXXX. Every time I contact them, I explain the urgency of the situation, and yet I can not get a response.
I had previously submitted a CFPB complaint and that was the first time I got a response from PennyMac. However, they left me a voicemail after XXXX last Friday. I returned the call that night and got voicemail. I again called Monday and got voicemail, and now it is Tuesday and I left a third voicemail. I can not get a response from this company. I am using the direct line and extension provided to me for an urgent problem, yet they refuse to respond to me. My payments are due to increase next week. PennyMac squandered a full month that I was stressing out about this problem, and they don't even have the decency to tell me what they intend to do about the issue.
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| 04/08/2015 |
Yes |
- Bank account or service
- Other bank product/service
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- Making/receiving payments, sending money
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Web |
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I had an insurance claim that was over {$10000.00} so the insurance check was made out to me, my husband ( who is the co-borrower ) and the lender ( PennyMac ). When I recieved the check and the adjuster 's estimate I called PennyMac who told me all I needed to send in was the check and a copy of the adjustment and they would release the XXXX XXXX of that check back to me. This was on XXXX XXXX. I waited and waited and when I returned from being out of town on XXXX XXXX I still had not gotten the check. When I called again I was told that the XXXX person was incorrect and there were additional forms that I needed to send in, which was not told to me the XXXX time in spite of me confirming the exact steps that were needed. Once I did send in the additional form I waited and waited for the check to be released. I then got a phone call that they messed up the processing of my check and it was going to be delayed ( due to their error ). This was XX/XX/XXXX. I finally did recieve the check. An inspector ( contracted by PennyMac ) came and looked at the house confirming the work was 100 % done on XXXX XXXX. When I called PennyMac on XXXX the XXXX I was told that the inspection report was received showing 100 % completion and I would receive the remaining XXXX of the original check I sent in 7-10 business days from the XXXX. I asked several times to confirm that without a doubt I woudl recieve the check within that timeframe. I then recieved a phone call the week of the XXXX saying that they were holding my funds until they recieved another form, which once again I was not originally told was needed ( as I was told that without a doubt I would recieve my check within 7-10 business days from teh XXXX ). I called back and said because of my work schedule, I could not provide the document until Friday the earliest. I was told that if I faxed in the form on Friday XXXX XXXX XXXX ) that they would recieve it that day and it would be processed that day. Due to my work schedule I did not get a chance to fax it in until Saturday the XXXX. Additionally, I faxed in a copy of the invoice showing that the contractor had been paid in full so that the check would be written out to me and my husband only ( and not including the contractor as the payee ). When I called on XXXX XXXX I was told that they can not guarntee when faxes are received or processed and that they had no idea when it would be looked at. I am again away on business today ( the XXXX ) and do not have access to the original document needed or the confirmation that the fax was recieved. Each time I call I am told something that turns out to be inaccurate despite my asking clarifying questions to confirm my understanding. I feel I have been lied to, that frontline personnal are not adequately trained and the company is being deceptive. Additionally, I have had to incur multiple expenses in an effort to expedite the process that would not have been needed had I the confidence that the company was being truthful with me or if they had followed through with what they had originally told me. This has caused an extreme amount of stress on me, impacted my work and personal life. In addition to the actual damages caused, this company has not been helpful, truthful or transparent with their practices and there is no compensation I will be able to receive for the way I have been mistreated and lied to.
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| 07/08/2022 |
Yes |
- Mortgage
- Conventional home mortgage
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Web |
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On XX/XX/2022, I sent in a {$1000.00} wire from my bank to Pennymac Loan Services to payoff my outstanding mortgage balance. All information included in the wire was per Pennymac 's payoff statement. I took a screenshot of my wire information and reconciled it to the payoff statement before submitting the wire request to my bank. A week later on XX/XX/2022, I checked my online Pennymac mortgage account and the balance was still the same so I called Pennymac. A Pennymac representative stated that the wire had not been received yet. To resolve this, I sent XXXX emails to Pennymac through their online portal and I attached an email confirmation from my bank of the wire transfer and also attached a screenshot of the wire information when I submitted it to my bank. Pennymac only allows one attachment per email so I had to send two separate emails. I got an email response from Pennymac on XX/XX/2022 stating that they had forwarded the information to their research team. I waited a few days later and called Pennymac and was informed by a different representative that I had input the wrong routing number plus the receiving bank account information only contained the last XXXX digits so Pennymac was unable to verify the wire information. I pointed out that the routing information was in fact correct and that the screenshot contained the full receiving bank 's account number. The Pennymac representative apologized and stated that they were elevating the issue to their supervisor and I would get a call within 2 days from the supervisor. I never received the call, so after 2 days, I called another Pennymac representative and again was told the same thing about the routing information and only the last XXXX digits of the receiving bank account displaying. Again, I pointed out that the documents I had provided do in fact show the correct routing number and also the full receiving bank account number. The Pennymac representative again stated they would elevate the issue to a supervisor. On XX/XX/2022, I contacted my bank through email requesting the status of the XX/XX/2022 wire. My bank responded on XX/XX/2022 stating that the wire was confirmed and did go through to Pennymac.My bank also provided the wire ID # which could be used to trace the wire. I sent this information to Pennymac on XX/XX/2022 and asked Pennymac to look for my wire. I called a Pennymac representative on XX/XX/2022 to see whether my correspondence had been received. I was told the same thing about the routing number and the last XXXX digits of the receiving bank account. Also, this time the Pennymac representative stated that the wire ID # provided by my bank wasn't enough to trace or confirm the wire and they were closing the issue. For the third time, I had to explain to another Pennymac representative that in fact the wire information was correct. Again the Pennymac representative stated that she would elevate this issue to a supervisor. It seems that Pennymac does not do its due diligence when trying to confirm my XX/XX/2022 payoff wire. Pennymac is quick to dismiss my evidence and when shown they are wrong, does nothing to correct or resolve the issue. It gets frustrating when I have to explain myself to XXXX different representatives and nothing gets fixed. All I want is for my loan to be paid off. This has been an extremely stressful and frustrating experience.
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| 11/21/2016 |
Yes |
- Mortgage
- Conventional fixed mortgage
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- Loan servicing, payments, escrow account
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Web |
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My complaint today is against my wife 's mortgage company, PennyMac XXXX XXXX XXXX XXXX, CA XXXX.
Her property was XXXX of XXXX homes in the area, thatwere damaged due toan arsonist. Although her son rented the home, he was not hurt but his personal property was damaged beyond repair. The home was n't a total loss but it sustained a lot of smoke damage along with structural and water damage. Our insurance company, XXXX XXXX, was very helpful in securing the property and assessing the damages. After their thorough itemization, they submitted a partial check to start on the renovations.Unfortunately, the check was written out to my wife and PennyMac. After contacting PennyMac, they advised her toendorse the check and send it them. She was n't sure why PennyMac needed to deposit the check into their account only to write another checkfor the contractorbut, what good was the check with both names on it? So she sent it to PennyMac. After contacting PennyMac to see when, exactly are they going to forward their check to or contractor, PennyMac stated it was under review. (????? ) PennyMac then told my wife that the house wasin foreclosure. (????? ) After negotiating with PennyMac, they offered a forbearance which wasquicly taken back.My wife was so upset about the news that I had to take over her affairs. I called PennyMac and ask for their attorney 's information which was reluctantly given to me. I called their attorney and asked for the case number but theydid n't have any information about the foreclosure because their law firm had n't started on it. (????? ) I told them that we were going to repair the property and PennyMac had our insurance check which was over the owed amount. The attorney stated that they would wait to hear back from PennyMac before they start the foreclosure process. After contacting PennyMac, again, and asking about the status of the check, they stated that they were going to send us a list of forms that our contractor needed to fill out first. We received the forms, filled out our part, had our contractor fill out his, and sent it back to PennyMac. That was n't good enough. It was one thing after another. My contractor had to send them a copy of his contractors license, waiver of lien form was wrong, needed another copy of his XXXX, etc. etc. etc.We felt likewe weretrained seals in a circusjumping through theirhoops. Then we we 're served with foreclosure papers. Now we were second guessing our decision to send PennyMac the check. After talking to PennyMac once again and expressing our displeasure for the way we are being handled, I figured it was time to contact the CFPB. I let PennyMac know what my plans were so they sent me an email stating my wife was given a mortgage modification. (????? ) That 's odd because she did n't fill out any new paperwork. Our first payment of the modification was due XXXX XXXX. Our payment was sent XXXX XXXX through XXXX XXXX. That cost us an additional {$14.00} for same day delivery. PennyMac still claims they have n't received it. I contacted XXXX XXXX and was told that payment was delivered 15 minutes after it was sent. I do n't know what game PennyMac is playing but we are tired of it. It is now month XXXX since the fire and renovations are still on hold. I do n't think PennyMac wants to release our funds because they are gaining so much interest on our money.
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| 03/02/2018 |
Yes |
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- Trouble during payment process
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Web |
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In XX/XX/XXXX, my city was hit with a major hail storm. I filed my claim with my insurance company. I had someone come out and assess the damages to my home and issue me a checks to repair the damages. Checks were issued to me and PennyMac for {$9400.00}, {$130.00}, {$110.00} and {$2600.00} ( this is per my insurance company as I do not have a copy of the checks since I sent them directly to the mortgage company. ) I sent these payments in the Mortgage Company in XXXX of XXXX. I realized about XXXX that I never received the signed checks back from my mortgage company. I called my Mortgage company to check on the status of these checks and was told that they signed them and mailed them back to me in XXXX ( lie # 1 ). I never received these checks. I called my Insurance XXXX and had new checks issued. This time they were for reissued to me and the mortgage company for the same amounts above except the check for {$130.00} which was issued only to my husband and myself. Again, these amounts are per my insurance company because I once again believed my mortgage company would not lie to me. I called to check these payments were received and was told at that time they received them but could not send them back to me because I had not originally signed the checks. ( lie # 2 ). I was also told that the first checks were in the file and that they had never been sent to me. I called my husband who called the Mortgage Company and found out we need to have a XXXX XXXX of XXXX signed and a XXXX before they will release the funds. ( lie # 3 ). I am finally up to have my roof repaired ( XX/XX/XXXX, yes the storm was that big ) and called to check on the information needed. It was at this time we found out that the claim had been overstated in their system, now I don't need the XXXX for XXXX XXXX of XXXX and that my insurance has been rejected by PennyMac. Insurance was rejected because they never received the letter form the XXXX about the reissued checks or the updated XXXX reports. ( lie # 4 ) Both the these items were sent with the checks that are not magically cashed and sitting in my restricted escrow account. The lady I spoke with yesterday was the only one who stopped to see what the problem was and try and correct the issue. Gold star to Customer Service Rep XXXX! The only bad thing is they promised to over night checks to me and her Manager promised to call me back in an hour. ( lie # 5 ). Yes they verified my phone number. I call today to check on the status of my checks and was told yesterday 's manager called and left a message for me ( lie # 6 ) and that the claims check could not be expedited and that I would need to wait between XXXX business days to get my fund released. I have tried to go up the chain of command to speak with the person in charge of the claims process and have not been able to get past the Hazard Claims report whatever head XXXX XXXX. ( Sorry, I've been transfer to so many people I can't remember everyone 's fluffed title. ) Today 's rep said she would work to try and expedite my claim today and will call me back to let me know one way or the other what is going to be done by the end of her shift today. After the number of lies I have already been told, I don't believe they will do what they say they will do. For the record, I have never been late for a mortgage payment and always paid what was due.
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| 06/13/2015 |
Yes |
- Mortgage
- Conventional fixed mortgage
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- Loan modification,collection,foreclosure
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Web |
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PennyMac is proceeding with an unlawful foreclosure sale after fraudulent transfer of purported loan with XXXX XXXX XXXX XXXX. ( purported loan # 's : XXXX,XXXX ) The sale date itself was unreliable as notices referred to both XXXX XXXX and the XXXX as the sale date. A representative on a conference call and auction site stated that the sale was cancelled as of the XXXX but there was no access on the trustee web site. A representative from XXXX XXXX sent an email that showed no regard or knowledge for problems with the case the past 7 years and stated the sale was going forward. At this point there appears to be conflict of interest as XXXX XXXX XXXX XXXX XXXX was the lawyer for XXXX XXXX previously and can not be considered an objective trustee.
On purported transfer, a verification of debt notice was provided, that I answered to request verification of debt. I also provided the cease and desist letter and demand delivered to XXXX XXXX and XXXX, the purported trustee of Trustee Sale : XXXX. Instead of addressing violations XXXX evaded law and proceeded with the transfer after sale was canceled.
The letter included in PennyMac 's response to the verification of debt response dated XX/XX/XXXX with a stamped signature from the Research Department states " ... the borrower 's loan was not under review for a Foreclosure Prevention Alternative ( FPA ). '' This statement reflects no knowledge of the negotiations to address the violations of the settlement and contradicts the case law and XXXX representative assurances that a sale would not go forward as long as there were outstanding issues related to settlement guidelines. This statement also ignores the history of my case concerning loan modification applications that were manipulated without my knowledge and the bad faith acts on the false offer XX/XX/XXXX, the last minute offer before the XXXX sale in XXXX XXXX and subsequent requests to verify standing and debt that has resulted in additional violations, fraudulent/robosigned documents and harmful actions.
There can be no legitimate review of a foreclosure prevention alternative with no legitimate single point of contact as documented, no verification of who is the rightful creditor/beneficiary or the purported debt and numerous, documented manipulative claims and offers, that are presented as FPAs, to SELECTIVELY address issues raised. It reached the point that XXXX is repeating it 's lies, manipulations and worthless apologies.
Violations of the CA Homeowner Bill of Rights, the National Mortgage Settlement, local laws and other settlements/laws were not addressed as document packages, accepted as responses by the CFPB, included documents that did not apply to the purported, disputed loan and other errors and misrepresentations as documented in detail in previous CFPB complaints and qualified written requests.
PennyMac is continuing the XXXX XXXX pattern to manipulate the foreclosure process, robosign documents and to mislead and commit fraud to harm me, the tenants and the community with malice.
A false offer, unlawful attempt to evict, misleading modification offers, negligence and/or fraud leading to a criminal charge against me represent intentional harm and oppression that is being ignored by every agency and level of government.
Please see attached, XXXX for additional description and details.
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| 04/18/2023 |
Yes |
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- Trouble during payment process
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Web |
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XXXX of 2023 2 main pipes bursted in our home. One in the bathroom and one in the basement. I called Pennymac my Mortagage company to file a claim with my HOA INSURANCE ( XXXX ), and upon attempting to file this claim, This insurance informed me my cover it was dropped off to Penny Mac Point Of Contact he not paying my premium.I am mediately contacted PennyMac and explain to them what was told to me and they denied having responsibility for that. at that time I also found out that my escrow had overdue of over {$2000.00} in it and I did not know what that meant at that pointSo I called Penny Mac Point Of Contact with XXXX XXXX on the line we all three were communicating and XXXX told Penny Mac that they stop the premium from being paid and they were trying to get in touch with Penny Mac The representative stated that even though that was true and that did transpired that there was nothing that they could do for us at that time. so intern I called FHA and the Ohio tourney general to complain and they both reached out to PennyMac loan services and at that point PennyMac reach back out to us and had a file a lender claim with their lenders insurance which was XXXX.But at this point none of this transpired for a little over 30 days so we could not file any complaints we could not move forward and it had been over 30 days since the damage occurred.At this point we have exhausted all of our savings and we have been performing damage control trying to make the damage as minimal as possible while at the same time trying to keep up on our mortgage and it has been very hard because we had no utilities, and no way to store or cook food for ourselves and children. At that time the city cut off our water due the bill being so high, they also cut our other utilities bc of the standing water in the basement for safety and we paid a plumber to come out on several occasions to help us with trying to keep the damage at a minimum but because Pennymac and XXXX have taken so long and are still taking unnecessary long time we can not keep the damage minimal. We have givin them all the info that was asked for despite XXXX switching us to Several different claims adjusters. XXXX does not respond to our concerns they constantly claim not to have access to the main portal to see the documents we have submitted and they refuse to honor our previous HOA POLICY EVEN THOUGH PENNYMAC ASSURED US THEY WOULD. At this point they have not honored any of our coverage clauses and they constantly down play and dismiss the diagnosis of the third party plumber even tho theyve asked for written documentation and we provided all 3 different adjusters with that information and the plumber also reached out to them to see what is the hold up. The lenders insurance is actively and deliberately holding up our claim. Pennymac refuses to take payments for the mortgage. We have attempted on several occasions to post the payment and Pennymac is saying they didnt get it and we have always paid out of this same account and they have given us conformation numbers stating they accepted it but the funds continue to sit in the bank. Because of this situation, I can not obtain any new coverage for my home because this insurance claim has not been rectified by the insurance company. So my home does not have any insurance once again because of this situation
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| 05/12/2016 |
Yes |
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- Loan servicing, payments, escrow account
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Web |
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PennyMac Loan Servicing continues to violate my rights under the Fair Credit Reporting Act from XXXX XXXX, XXXX to date. I 've had several phone conversations with several members and departments, informing them that they were not operating under the Laws of Chapter XXXX. PennyMac initially refused to modify my loan ( please see previous complaint filed with your Bureau in XXXX ) after 6 attempts and filed foreclosure. In turn, I filed Chapter XXXX. PennyMac entered a claim for {$14000.00} into the Trustee court. I was mandated to make payments to the Trustee in the amount of {$460.00} per month, in addition, pay PennyMac my regular mortgage payment amount of {$1400.00} per month commencing XXXX XXXX, XXXX, which I complied. The Trustee advised me that the payments made to PennyMac from the Trustee will be applied to the arrearages ( Claim amount entered into Bankruptcy Court ) and that my regular monthly payments will be applied to XXXX XXXX, XXXX, onward. I learned through my credit reports that PennyMac was not applying my payments as mandated by the Court and " applied as they see fit '' per several employees. I informed them that under the Law, if payments are prescribed, you must apply accordingly. To this day, they have not corrected my account and continues to record that I have not made payments to them since XXXX. I made consecutive payments to PennyMac without being late from XXXX XXXX, XXXX through XXXX XXXX, until the courts raised my payment again and my attorney allowed this even when I communicated that I could not pay any more than the nearly {$1900.00} that I was paying before I took care of any of my bills of which {$1500.00} more was remaining. This has been the worst nightmare and train wreck that I 've ever experienced and the government did n't protect me. All my payments made to the Trustee went to my attorney XXXX XXXX {$400.00} ) per month. Then as soon as he was paid the {$3000.00} in full, I started receiving letters from the Trustee to pay more - that which my attorney knew I could not pay. Ultimately, my case was dismissed in XXXX XXXX. Only since I file the complaint with you against PennyMac, they agreed to a modification. I since made # 3 of 3 Trial Payments as of XXXX XXXX, XXXX and await their verdict. I since asked for a correction to my credit report today and XXXX insist that I need to speak with the Trustee or my lawyer because they have the right to apply my payments as they see fit. Again, the last 3 payments made in XXXX, XXXX and XX/XX/XXXX were applied to a month in XXXX ; however, all of XXXX payments were made, again from XXXX XXXX, XXXX through XXXX XXXX, XXXX. I have since been turned down by a mortgage lender for modification due to this negative reporting. He told me that they could underwrite this loan with no problem, regardless of bankruptcy, if PennyMac showed the most recent 16 payments made, and not only do they not reflect such, but also refuse to correct their reports with all XXXX Bureaus. I think this is malice against homeowners to make others turn you down and make you have to deal strictly with them at their mercy. These people are horrible and I pray to God that something positive happens in all of this that I do n't have to do business with them and continue to be bullied and disrespected by they employees.
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| 03/24/2020 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
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- Problem with a credit reporting company's investigation into an existing problem
- Their investigation did not fix an error on your report
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Web |
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I secured my original mortgage with PennyMac on my primary residence in XXXX of XXXX. In XXXX of XXXX I was pursuing a mortgage refinance that involved paying off my existing PennyMac mortgage and closing on a new mortgage with XXXX XXXX XXXX. I closed on this new mortgage on XX/XX/XXXX and the disbursement date was to be XX/XX/XXXX - including the payoff of my PennyMac mortgage by XXXX XXXX XXXX.
As such, my mortgage consultant with XXXX XXXX indicated to me via email that I did not need to make an XXXX payment on my PennyMac mortgage. This was my first experience refinancing a mortgage, and perhaps naively I believed my mortgage consultant that I did not need to make my XXXX payment if I closed on XX/XX/XXXX.
Ultimately, XXXX XXXX XXXX acted negligently and did not payoff my PennyMac loan until XX/XX/XXXX, despite the fact that the new XXXX XXXX XXXX mortgage was funded by XX/XX/XXXX. XXXX XXXX XXXX also did not take any steps to notify me that the payoff of my primary mortgage would be delayed.
Since I was instructed not to make an XXXX mortgage payment by my mortgage consultant at XXXX XXXX and XXXX XXXX XXXX took 35 days to payoff my existing mortgage after closing, PennyMac recorded my XXXX mortgage payment of {$940.00} as 30 Days late and reported this information to the following credit reporting agencies : XXXX, XXXX, XXXX and XXXX.
Upon noticing that this 30 Day late payment had been reported through the use of XXXX XXXX 's online credit monitoring platform, I composed the attached " Credit Request '' document for PennyMac and mailed it to their correspondence unit on XX/XX/XXXX.
In this document I outlined the same sequence of events as above, and I also included evidence that my personal checking account ( XXXX ) had adequate funding throughout the entire month of XXXX to make the required payment. In fact, this account had a closing XX/XX/XXXX balance of {$8200.00} and at no point during the month of XX/XX/XXXX was this account balance less than {$4000.00}.
I believe this demonstrated that I had ample funds to make the required XXXX payment and therefore that the missed payment was not a result of my financial inability to pay. I attempted to explain to PennyMac that the payment in question was not late due to my lack of creditworthiness as an individual, but rather reflected extraneous negligence on behalf of two companies that I was working with as part of the mortgage refinance process. As such, I requested that the 30 Day late payment be removed from my credit reports.
PennyMac issued a response on XX/XX/XXXX from their research department in which they stated " As the late payments were not a result of a PennyMac error, we must respectfully decline your request to update the credit reporting for this time period ''.
I am now filing a complaint with the CFPB as I believe PennyMac is being unreasonable in not adjusting their credit reporting despite the case I have made. I believe I have outlined in very clear terms how this late payment did not occur due to my lack of credit worthiness or ability to pay. As such, I don't believe this late payment should negatively impact my personal credit score for the next 7 years, which will drastically impact my ability to secure future lines of credit at reasonable interest rates.
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| 01/23/2018 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
Servicemember |
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This is an ongoing issue. I have spoke with three different representatives on three different occasions to-date. My last call lasted for nearly 1 hour.
On XX/XX/XXXX, I contacted my Pennymac to remove my escrow from my current mortgage. To the best of my recollection, they discussed a 21-day process time. Due to recent tax code changes, I informed them that I wanted to pay my property taxes before the end of the year and asked if they could expedite the process time. The representative I spoke with ( I believe XXXX ) visited with the Pennymac escrow department and I understood from the representative they were going to expedite it. I informed the representative that I would go ahead and pay my property taxes and insurance and did make payment within a 24 hour period.
Several weeks later, I observed on my bank statement that the normal mortgage deduction from my bank had increased by {$61.00}. I contacted Pennymac and was informed that it was due to an increase in my escrow ( i.e. increase in property taxes and insurance ). I informed the rep that I understood that my escrow had been or was being removed based on my XX/XX/XXXX call. He informed me that I was not eligible because I had not been with Pennymac for a 24 month period and that this was a XXXX requirement. I asked for a follow-up and more specific information as I needed to end the call because I was at work. I never received a follow-up communication.
I called back at a later date and spoke with someone from Pennymac customer service. I received the same information regarding 24 month XXXX requirement. I could not get any specific on the regulation and when I indicated that I did n't sign anything during closing that would prevent them form removing escrow, they informed me that by law it did n't have to be disclosed, but generally would at closing. I made a clear request that if they we going to deny me the ability to remove escrow, they needed to provide a written response and a reason for denial. I did inform them that during my research ( internet search ) while on hold, I had not found any requirement or reason they could not remove my escrow account. Furthermore, after having reviewed all signed documentation, I could not find anything that would limit me. I also have a good credit history and record of making on time payments.
I visited directly with XXXX and was informed the only reasons for denial were : ( 1 ) defaulted on loan, ( 2 ) have a blemished history, or ( 3 ) limited cash reserve. None of these reasons would apply to me. I even reviewed my loan documentation and it specifically states the lender may waive certain obligations such as escrow. At this point, I feel as if Pennymac is using a requirement of XXXX that does n't exist or at least shifts there own accountability in not providing me information to a well-informed customer ( it 's not their requirement, it is a requirement outside of their organization ). At this point, I find there 's little I can do to find resolve directly with Pennymac. Of interest to me is the longer it goes on the more costs it has to me in terms of interest accrued. For instance, the past payment should have been applied to principle instead of sitting in an escrow that is no longer needed. Again, my request was on XX/XX/XXXX.
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| 06/29/2023 |
Yes |
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- Trouble during payment process
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Web |
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PennyMac never paid my flood insurance premium to XXXX XXXX XXXX XXXX that was due XX/XX/XXXX therefore, my policy was never renewed. PennyMac has taken {$3300.00} out of my escrow account to pay for lender placed flood insurance because they never made payment to the flood insurance company. Pennymac was the responsible party and they were supposed to make payment of {$800.00} to the flood insurance company on my behalf. I contacted PennyMac on at least 2 different occasions in the months of XXXX and/or XX/XX/XXXX in regards to me receiving a renewal letter and the payment not being made to XXXX XXXX XXXX XXXX . The customer service reps I spoke with told me the funds will be automatically disbursed as well as they have up to 30 days after the policy renewal date to make payment. Also, not once during any of the phone calls did anyone from PennyMac advise me they didn't have a renewal invoice and that was needed for them to make payment. Not once during any of the calls did PennyMac employee 's advise me to send in or upload my renewal notice so they'll be able to make payment. I checked my online escrow account and Pennymac had the correct insurance companies & addresses listed along with the premiums and renewal dates therefore, I had no reason to believe these individuals were providing me incomplete or wrong information when I called in to speak about my insurance renewal payments. Now, for the past 2 days I've spent hours on the phone with PennyMac trying to get this straightened out and once again I've been provided with wrong information. XXXX from the insurance tracking department told me I can have XXXX XXXX back date my policy to XX/XX/XXXX so I can receive a full refund for the lender placed insurance once my new policy goes into effect which I come to find out is false and illegal. He also advised me I would have to pay the insurance premium myself and not out of escrow which I also came to find out was incorrect information. I called back and spoke with 2 other reps XXXX and XXXX and they told me something totally different from what XXXX told me. They both tried calling XXXX to get my policy reinstated and make payment over the phone from my escrow account which XXXX never once said it was an option or tried to do. XXXX also advised me that I will not be refunded back the full amount and will only be refunded from the day my new flood policy from XXXX goes into effect which of course is different information than what the other rep XXXX stated. This just goes to show you that none of the PennyMac employees are on the same page as well as they give out wrong information or lack thereof and I'm getting penalized for it. I shouldn't have to pay for this lender placed insurance because of an incompetent company. What I've been charged from XX/XX/XXXX up until whenever my new policy goes into effect ( pending XX/XX/XXXX ) should be waived because PennyMac dropped the ball. I did my due diligence by calling in to verify the process and asking questions to try to make sure everything was done correctly and payment was going to be made to avoid my flood insurance being canceled but if PennyMac employees are giving me incomplete and wrong information how would I know any different because this is my 1st insurance renewal year with them.
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| 12/12/2019 |
Yes |
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- Trouble during payment process
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Web |
Servicemember |
|
Since the time this company has taken over my mortgage my account has had issues, my payments continue to increase and there's nothing I can do about it. They continue to report to the credit bureaus that my payments are late when they have not been. I had this problem before from XX/XX/XXXX-XX/XX/XXXXthey listed all these late payments but never told me even though I was sending in my payments on time and in full. They claim to have " fixed '' it but didn't remove those erroneous reporting from my credit reports.
Since XX/XX/XXXX I've been paying every two weeks with instructions to pay an additional amount on my principal. I have confirmation with details on when they were sent and when PennyMac cashed them. I started getting calls saying my payment was late so I called in XX/XX/XXXX ( called at XXXX XXXX stayed on hold til XXXX XXXX ) and XXXX said my payments were not put where they should've been. He said he put in a correction and it would be corrected. The calls picked up so I called back right after the automated call on XX/XX/XXXX, spoke with XXXX and all she's focused on is getting me to make a payment. Wouldn't let me get a word out to really explain what was going on.
When I finally get to speak she puts me back on hold, ( mind you I waited on hold 30 min ) to finally check my account before she demands a payment from me. She says she see 's that I spoke with someone ( XXXX ) on the XX/XX/XXXX so why am I calling in if I already spoke with someone about this? I'm already XXXX and now I'm ready to explode on her because of the audacity. PennyMac consistently calls me, I finally call back and she goes on about me making a payment not giving me a chance to explain and it's as if I'm wasting her time. I explain that I was calling back because PennyMac recording said to call in and I didn't want this reported on my credit as if I was late. XXXX 's words of wisdom is, " ... ignore the calls and don't worry about it ... '' her words. I explain again I can't because I've seen this back in XX/XX/XXXX-XX/XX/XXXX with the false reporting and it's still not off my credit that I was not late on my payments.
XX/XX/XXXX I see my credit has dropped almost 100 points and I'm 30 days late on my mortgage. HOW?! I've been paying early with extra on my principal, again I'm XXXX because I saw this happening and everyone is assuring me it wouldn't. Spoke with XXXX XXXX she said she was sending " this '' to their credit department to have " it '' corrected but there's no direct line for them and she can't tell me how long it will take. I asked to speak with someone higher up about this and I get XXXX the supervisor, I want to file a formal complaint he gives me the corporate headquarters address.
Due to PennyMac my credit has been horribly damaged and this has caused so many issues in my life as well as my XXXX XXXX. Being a XXXX Vet on a fixed income PennyMac continuously causing damage and harm to not only my financial situation but as well as my XXXX XXXX is criminal. I was in the process of trying to get a cashout refinance, tried with PennyMac from XX/XX/XXXX and was given the runaround all the way til XX/XX/XXXX. Now I have to put that on hold until this is cleared up.
This has to stop it has to be illegal what PennyMac is doing!
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| 08/02/2022 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
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- Incorrect information on your report
- Account status incorrect
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|
Web |
Servicemember |
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I am writing to formally complain about an issue with members of the PennyMac Collections department and Modification Center. I contacted PennyMac customer service in XX/XX/XXXX to request a forbearance on my home loan. XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX I was out of work from XX/XX/XXXX through XX/XX/XXXX during the pandemic. I was granted a forbearance on the account. At the time, they told me that a negative report would not be sent to the credit bureaus. I am now in the process of selling my current home and purchasing a new home and discovered that PennyMac had indeed reported me late on my mortgage for over 90 days for the month of XX/XX/XXXX and XX/XX/XXXX.
I contacted customer service last week and spoke with a young lady by the name of XXXX. She looked at my credit account and informed me that PennyMac had not reported me late on my mortgage. She told me to fax the documents to PennyMac so that they could see where it was reported late and they would fix the problem.
This situation has put me in a precarious position. I was granted a Forbearance and was not told that if it wasnt XXXX related I would receive negative reporting on my credit.
I contacted PennyMac on today, XX/XX/XXXX and was informed by XXXX in the Collections Department that PennyMac would not be fixing the error. I was on the phone with XXXX for close to XXXX hour. XXXX then informed me that he was notified by someone that I was not out on XXXX and they will not be changing anything on the credit reporting. I tried to get the names of everyone he spoke with and he refused. I also asked for his last name and was refused that also.
When I applied for Forbearance during the XXXX pandemic none of your account managers mentioned any other requirements to me regarding why I was having a hardship. I am very displeased with this process. During the forbearance period I pulled money from my XXXXXXXX XXXX and paid {$5000.00} to PennyMac in an effort catch up on some of the payments. Although I was told not to make any payments during the Forbearance period. I acted in good faith. In good faith I applied for the Forbearance program during the pandemic The PennyMac employees that I spoke with regarding this matter were rude, argumentative and disrespectful. I tried to explain during several telephone calls that I was never given any information on negative credit reporting. In fact, I was told that my account would remain in good status.
I was refused a supervisor each time I requested to speak with one. XXXX told me that the notes were right there in the system and that there was no need for me to speak with a supervisor. He said that I had been told this on several occasions and he would not transfer me to anyone.
As a XXXXXXXX XXXX, I have been with PennyMac since XX/XX/XXXX and have never been late on my mortgage. I was so pleased with this company that I reached out to them again when I purchased my third home.
In this how PennyMac treats its military veterans customers? I request immediate correction to my credit report. Your company made the error in not keeping your word to me the client. I am a XXXX XXXX Veteran and XXXX XXXX who has trusted your company to provide the best client care possible and I have not received that.
|
| 01/28/2021 |
Yes |
- Mortgage
- Conventional home mortgage
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
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Loan ID : XXXX Personnel involved Loan officers XXXX XXXX XXXX XXXX Loan processor XXXX XXXX XXXX XXXX ( Manager of XXXX XXXX ) Set XXXX, XXXX : I inquired refi rates with PennyMac ( also my then loan servicer ) and another bank. I decided to work with the other bank due to lower rate and cost, and informed the loan officer, Mr. XXXX XXXX, at PennyMac.
Set XXXX, XXXX : Mr. XXXX XXXX called and tried to convince me working with PennyMac. I was reluctant as I had already paid fees to the other bank. He then offered rate match plus a credit of {$500.00}. The only reason, that I agreed to work with him, was that PennyMac was my then loan servicer. I thought that the process would be simpler. The hour-long conversation started at XXXX XXXX ET. I have asked him to reiterate the offer on the recorded line.
XX/XX/XXXX : The loan was conditionally approved. Throughout the process, document requests were always responded on the same day properly.
XX/XX/XXXX : I got a status update call from XXXX, who said that theres reason for a closing delay at the point.
XX/XX/XXXX : Due to XXXX promotion, the loan application was re-assigned to a new loan officer, Ms. XXXX XXXX.
XX/XX/XXXX : The refi was expected to close on XX/XX/XXXX. I asked for an update from both Mss. XXXX XXXX ( loan officer ) and XXXX XXXX ( loan processor ), neither responded.
XX/XX/XXXX : XXXX asked an update from XXXX XXXX, who did not respond the email. In fact, XXXX never responded my emails nor voice message throughout the process. Eventually, I got hold of her several times, she promised to call back for updates, she never did. Therefore, some communication late in the process was between her manager Mr. XXXX XXXX and I.
XX/XX/XXXX : Ms. XXXX XXXX asked closing update again. Mr. XXXX XXXX indicated that PennyMac needed to manually underwrite the loan. However, XXXX said that PennyMac only used automatic underwriting and did not use manual underwriting.
XX/XX/XXXX : The loan was denied due to Does not meet minimum investor guidelines.
XX/XX/XXXX : I called XXXX and asked for an explanation. After reviewing my credit profile again, she said that she could not understand the denial as my debt-to-income ratio was less than 25 %, and suggested me to discuss with the loan processor. As the issue appeared caused by PennyMac, I asked for a refund of {$480.00} fee. XXXX immediately requested a refund and said that it would be credited back in 15 days. It did not happen!
XX/XX/XXXX : I called Mr. XXXX for an explanation. He said that the denial was due to my credit profile. However, I pointed out that : 1 ) my credit scores were excellent and were always on the highest percentile ; 2 ) my verifiable income was double to that of required for the size of the loan ; 3 ) my net asset was several times higher than the size of the loan ; 4 ) I had no negative public record ; 5 ) my debt-to-income ratio was lower than 25 % ; and 6 ) my employment was not affected by the pandemic. Mr. XXXX said that he would do more research and promised to call me back within 24 hours. He lied and never called me back!
XX/XX/XXXX : I immediately worked with a different lender. The refi was closed successfully on this date with a lower rate and cost.
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| 10/13/2016 |
Yes |
- Mortgage
- Conventional fixed mortgage
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- Loan servicing, payments, escrow account
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|
Web |
Older American |
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PennyMac took over my loan from the 1st payment XXXX/XXXX/XXXX. They mismanaged my impound account continuously. FIRST, they paid the Hazard Insurance, when it was paid in full when escrow closed XXXX/XXXX/XXXX. SECOND, they did not inform me, nor did I know that there was a supplemental tax bill coming that I was to pay, although they were impounding taxes based on the full new tax amount of {$3000.00} per year, not {$2200.00} as they paid. The penalties were {$110.00}. THIRD, they paid my auto insurance {$1100.00} instead of the HO {$560.00}, and used that amount in my impound analysis. I paid the HO myself, and the refund for auto insurance was returned to my impound account. FOURTH, they raised my impounds by about {$100.00} a month due to these errors. I requested that they HAND analyize my account since it was wrong. This was not done. The last analysis showed my HO was {$1100.00}. By their errors, PENNYMAC caused my shortages and can not read my requests and follow through.
XXXX XXXX, because of all these errors, I request refund of impounds and control by me, as I do n't need them, I have a XXXX loan. Their customer service said they had to mail me a hard copy of the request and I had to mail it back. It was confusing because there are XXXX boxes to check, XXXX stating I wanted them not to impound for anything, remove escrow from my loan, and the XXXX stating I had 3 months impounds " somewhere ''. The form is ridiculous and I did not check the XXXX little box about having impounds. They DENIED my request. After many messages and phone calls, a customer service rep said she could upload that form to my account, and I could sign and return same way. This did NOT happen. Next, another rep said she would just check the little box for me, and resubmit it to avoid further delay. This did NOT happen as another rep said she was out-of-line and that was NOT going to happen. This is 7 weeks AFTER I initially tried to close my own escrow account with them.
I ended up writing a XXXX page letter to their ESCALATION department, finding a copy of the form I originally signed in my message box ( you do n't know what 's in your message box unless you open and look in each folder ), downloading it, resigning and checking and dating, then mailing it and also uploading it.
Last week I received another analysis, same amounts, showing the wrong payments for everything. I received the impound check less the TAX PENALITES. I received a phone call and apologies from their Escrow Insurance department.
I am only ONE of {>= $1,000,000} in loans they service. What else are they doing to their customers?
I want my tax penalties back from them. That is {$110.00} I do n't have. They impounded this amount. How am I, a consumer, to know that they impound for taxes for do n't pay for extra tax bills? That is not right. Something is wrong. Every loan in California and many other states, when new, would have a SUPPLEMENTAL TAX BILL. How do they inform each and everyone of those people to pay it themselves? But they collect for the same? Is n't that double jeopardy?
I never want to use PENNYMAC again, they are so much like XXXX, where most of their executives and managers worked previously. That attitude!!!!!!
|
| 04/17/2021 |
Yes |
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- Trouble during payment process
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Web |
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XX/XX/XXXX Escrow Account Disclosure Statement : Requested hard copy Escrow Statement was not received after multiple calls requesting for a copy to be mailed. Every year, I had to make requests to receive hard copy Escrow Statement, however, there were always difficulties to receive these documents upon request.
Escrow paid Homeowner Insurance Premium {$1000.00} on XXXX, XXXX, however, I was charged {$1100.00} from Penny Mac and I paid on XX/XX/XXXX. I was forced to overpay {$32.00} without explanation and was not indicated in any Escrow Analysis Statement to calculate actual escrow balance.
Escrow Analysis History was not correct. I paid {$1500.00} is not reflected in last year Escrow Analysis Statement or any other Escrow Analysis Statement. Escrow Analysis Statement indicated {$1500.00}. There was an error of {$1.00} not explanation and was not indicated in any Escrow Analysis Statement to calculate actual escrow balance.
Every Escrow Analysis Statement contain constant errors in recording actual Begin Escrow Balance.
Request : 1. Requesting actual escrow account breakdown to account for the actual payments in every year payments of months of XXXX, XXXX, XXXX and XXXX.
2. Need to calculate accurate Reserve Escrow Balance 3. Need to revise Escrow Analysis Statement 4. Requesting to receive hard copy Escrow Statement generated on XX/XX/XXXX.
5. Requesting to receive revise hard copy Escrow Statement to be generated.
Reasons : These four months are the transition period where the Homeowner Insurance changes to account of new Homeowner Insurance Carriers.
These four months are the transition period where as recently as XX/XX/XXXX, where requests from me made to remove monthly default reserve.
These four months are not accurately recorded in the previous year or the following year Escrow Analysis Statements.
XXXX, XXXX Escrow Account Disclosure Statement : This year, PENNYMAC LOAN SERVICES , LLC made the changes, I pro-actively requested, however, on my XXXX, XXXX mortgage bill and online payment system, they AGAIN revert back to the original old, faulty increased amount which was concurred by PENNYMAC LOAN SERVICES , LLC that they will adjust and reduce.
It is extremely time consuming and painstaking to keep track, reach their representative on phone and request these changes repeatedly.
every year, i call and get the ecrow analysis revised because of errors such as added reserve to escrow etc. I am monitoring, tracking and reporting since XXXX.
since last year PENNYMAC LOAN SERVICES , LLC moved the escrow analysis date and forced me to pay additional amount in their every year increase in the month of XXXX an d onwards. i have to be pro-active to make sure 1. i request escrow analy sis 2. PENNYMAC LOAN SERVICES , LLC do not send hard copy of escrow analysis even after i repeatedly requested. 3. i have to find errors and request every year to revise the escrow analysis i need to make sure PENNYMAC LOAN SERVICES , LLC correct their ways of conducting business with transparency and disclose information in timely manner. i request PENNYMAC LOAN SERVICES , LLC to revise once and for all their method of calculating escrow analysis to avoid this ongoing yearly challenge.
|
| 05/22/2018 |
Yes |
|
- Trouble during payment process
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|
Web |
Servicemember |
|
I am a XXXX XXXX Veteran of 23 years with over 30 years of combined federal service. My wife and I just finished building our retirement home with permanent VA financing originally provided by XXXX XXXX XXXX XXXX XXXX On XX/XX/XXXX, before our first monthly payment was due, the loan was transferred to a new Mortgage Servicing Lender ( PennyMac ).
On XX/XX/XXXX, we received a letter from PennyMac that FEMA had modified the flood maps changing our property from flood zone XXXX to flood zone XXXX ( Special Flood Hazard Area ). Although to date we have not received any official notification from FEMA of the change, we have been required by PennyMac to purchase flood insurance under threat that they will purchase insurance on our behalf and adjust our monthly mortgage payment accordingly.
The cost of flood insurance if PennyMac were to purchase it on our behalf was a staggering {$2900.00} per annum while the cost of FEMA insurance is {$450.00} per annum. This is a scam of outrageous proportion and should not per permitted under US law. Several items to consider follow.
Despite our cooperation, we have been continually harassed by PennyMac who has sent a multitude of threatening letters over a very short period of time. Between the letters and several lengthy phone calls Im still not sure the Lender isnt going to come back with some bogus additional charges. A record of these letters and phone calls is attached as Exhibit A.
The most egregious issue is the lender wanting to back charge us for flood insurance. The original notification from the lender of the FEMA map change was on a letter dated XX/XX/XXXX. That letter required us to purchase flood insurance within 45 days which we did on XX/XX/XXXX. The insurance was purchased through FEMA which requires a 30 day implementation period from the date of purchase and so it did not become effective until XX/XX/XXXX. Now the lender wants to charge us {$330.00} for the period XX/XX/XXXX to XX/XX/XXXX to purchase flood insurance on our behalf that is not covered under the FEMA policy. This is criminal, who actually sells insurance for a past period of time? Wanting to charge for insurance for a period of time that has already past and should have been covered by the 45 day grace period ( XX/XX/XXXX notification + 45 days = XX/XX/XXXX ). Our FEMA policy became effective XX/XX/XXXX and so was within this 45 day grace period.
What gives a private corporation ( Lender ) the right to automatically change the terms of a written contract that was sold to them by the previous party to that contract? Where are the protections for the consumer? Apparently the lender is equal to the IRS and is prosecutor, judge and jury?
Read any reviews of PennyMac on the web and you will find hundreds of frustrated people. Something should be done. In XX/XX/XXXX PennyMac settled a Class Action lawsuit for force-placed insurance on home owners in such a manner that it received an unauthorized benefit or kick back from the insurance companies. Apparently they havent learned their lesson. Perhaps the Consumer Financial Protection Bureau needs to have another look at PennyMac. These are hostile lending practices and this is no way to be treating Veterans.
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| 03/16/2021 |
Yes |
|
- Trouble during payment process
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|
Web |
Servicemember |
|
Dear CFPB Representative - I purchased a home loan through XXXX XXXX. The mortgage was originally through XXXX but was transferred to PennyMac.
I have a VA Loan where the Property Tax and Homeowner Insurance are included in the Mortgage payment.
PennyMac is trying to over-charge me on my escrow. In XX/XX/XXXX, they sent me a letter stating they re-calculated my escrow and told me I had an escrow shortage of {$350.00} and that I needed to pay the {$350.00} in order to keep my mortgage payments at the same amount ( {$1300.00} ). I submitted the {$350.00} and my mortgage payment stayed the same throughout XXXX.
My total property tax for XXXX was {$3000.00}. My Homeowner insurance was {$880.00}. So, a total of {$3900.00} was the total escrow amount needed for XXXX without the reserves. I am required to have an escrow reserve amount of 1/6 the total amount, or 2 months worth of escrow reserves. The escrow reserve amount should be {$690.00} ( $ XXXX = XXXX x XXXX = {$650.00} ). So the total Escrow amount for XXXX should've been {$4600.00} ( {$3900.00} + {$650.00} ).
In XXXX, the property tax and insurance was already paid with the escrow amount and reserves, but the reserves were short {$11.00}.
The XXXX payments I made into Escrow were as follows : ( 1 ) I made a single payment of {$650.00} on XXXX XX/XX/XXXX after PennyMac 's escrow recalculation, along with 11 more months of payment of {$290.00} each. In XXXX, I paid into my escrow a total amount of {$3900.00} ( {$3200.00} + {$650.00} ). My Property Taxes and Insurance came to {$3900.00}. I owe {$11.00} for my XXXX escrow - but Pennymac is trying to make me pay an additional {$1000.00} spread out over the year XXXX for the {$11.00} shortage in the XXXX reserves!!
For XXXX, my Property Tax is {$3100.00} and my Insurance is {$900.00}. That is a total of {$4100.00} for my XXXX escrow needs without the reserves. I am required by law to have 1/6 of the amount, or 2 months of escrow in reserves. That amount should be {$690.00} ( $ XXXX = {$340.00} x 2 = {$690.00} for reserves ). So the total Escrow amount needed for XXXX should be {$4800.00} ( {$4100.00} + {$690.00} ). Therefore, in XXXX I am required to have a monthly escrow payment of {$400.00} ( $ XXXX = {$400.00} ).
Right now, my escrow payments are {$290.00}. That means my mortgage should increase by {$100.00} each month to increase the escrow amounts to XXXX. My mortgage should go from {$1300.00} to {$1400.00}.
Instead, PennyMc is trying to make me pay and additional {$32.00} per month over and an additional {$390.00} for the year above the required escrow reserves. PennyMac is trying to get me to pay for back reserves THAT WERE NOT EVEN NEEDED!
I also think PennyMac has made me back-pay for reserve escrow that was not needed and not used in the past!! This year is the first time I am realizing that I only owe {$11.00} dollars and yet PennyMac wants me to pay more money ( {$390.00} ) than the money I was actually deficit ( {$11.00} ).
Could someone please help me fight PennyMac on this? I have all of my records - payments, taxes and insurance amounts. Any and all help is appreciated! Thank you!
XXXX XXXX XXXX ( Cell ) XXXX XXXX XXXX ) XXXX ( eMail )
|
| 03/01/2018 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Applying for a mortgage or refinancing an existing mortgage
|
|
Web |
|
|
I am looking for two remedies due to the Statement of Denial, Termination, or Change by PennyMac Loan Services for an Unacceptable property causing me to re-start the mortgage process and close with with another company, XXXX.
1. A refund of {$1800.00} for the difference in Loan Origination Fees ( {$1100.00} ) and Lender Credits ( {$670.00} ) that I paid to XXXX versus PennyMac.
2. A revised mortgage commitment with a reduction of .25 % to the Interest Rate.
I began the mortgage conversation with Loan Officer XXXX ( XXXX ) XXXX from PennyMac on XX/XX/2017 culminating in a Loan Estimate of 3.875 % with {$270.00} in Origination Fees and {$970.00} in Lender Credits as of XX/XX/2017 ( see attachment 1 ).
On XX/XX/2017, my loan processor from PennyMac, XXXX XXXX notified me that there was a concern in PennyMac that my property was a condo-tel and that PennyMac may have a problem providing a mortgage. I then had conversations with her manager, XXXX XXXX, and then with XXXX who told me that the PennyMac Loan Committee would not hold a mortgage for my property. My real estate agent ( who used to work for the condo ) also spoke with XXXX XXXX to explain that they were incorrect in their assessment the XXXX XXXX XXXX XXXX was a condo-tel.
1. The onsite rental desk on property is a different company that rents some condos on property, but it is not required to rent your condo ( some people live there or use it as a second home ) nor do you have to use the onsite company XXXX XXXX as the rental company if you choose to rent your condo.
2. There are no short term ( nightly rentals ) available as the minimum rental is weekly.
3. There are no onsite maid services providing daily service nor a concierge desk onsite. Cleaning is done by the resident or with maid services that are paid by the owner or guest when they vacate the property with a maid that is found on the internet or phone book.
In spite of my input and the input of my real estate agent, I was given a verbal denial then and received a written denial dated XX/XX/2017 ( see attachment 2 ).
I then had to begin the entire mortgage process with another company, XXXX, who had a higher fees as well as a higher interest rate of 4.125 %. I closed on this mortgage on XX/XX/2017 ( see attachment 3 ).
I received a letter from PennyMac Loan Services dated XX/XX/2017 notifying me that my mortgage loan had been sold to PennyMac ( see attachment 4 ).
I find this absolutely ridiculous and unethical with the mortgage sale occurring prior to me making my first mortgage payment. It may also be a violation of the Florida Deceptive and Unfair Trade Practices Act. I have not contacted an attorney at this point, however, I will do so if we can not resolve this issue.
I am requesting a refund of {$1800.00} for the difference in the Loan Origination Fees and Lender Credits along with a revised mortgage commitment with a reduction of the Interest Rate to 3.875 % to honor the loan estimates provided to me by PennyMac on XX/XX/2017.
I have made my XXXX, XXXX, and XXXX mortgage payment to PennyMac as I want to maintain my credit rating. I look forward to a response from you and hope you can help me resolve this quickly.
|
| 10/04/2023 |
Yes |
|
- Struggling to pay mortgage
- Foreclosure
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|
Web |
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I am a widow who works full time at XXXX XXXX XXXX. After my husbands unexpected and tragic passing things were very difficult and I barely kept us afloat until we received insurance benefits. In XXXX I was able to do a FHA streamline loan with our lender Penny Mac and get the mortgage put into my name for a cost of about {$3000.00}. Two weeks ago Penny Mac tried to auction my home at foreclosure without ever working with me towards a plan to resolve my delinquency. I now know there are several programs set up for struggling homeowners with FHA loans and Penny Mac never considered me for any of these programs.
I was the sole support for my family while my kids went to school and I made all my payments on time even during the pandemic. In late XXXX the insurance benefits ran out and we no longer had a safety net and things were tight. We had major car repairs that were a necessity because that was my work transportation and was expecting a tax refund to help cover that so I could stay current with the mortgage. Instead of a tax refund, the IRS diverted the funds that were supposed to come to me to pay past due tax bills from XXXX! I tried to appeal but was denied. I called into Penny Mac after I missed the XXXX and XXXX payments for help and to find out what options were available. I felt the agent was very negative and instead of explaining that because I had an FHA loan that there were several programs that could help I was told I should try and apply for the state homeowner assistance program. I did apply for that program but it was complicated and online and I sent in all of the paperwork but nothing happened. I tried to call in again to Penny Mac and again the agents were discouraging and not helpful. I truly believed I could come up with the money to pay the back payments and did not want to deal with the agents at Penny Mac because of the past experiences. But then things just got away from me and I went into foreclosure and the home is very sentimental to my family. I thought that I was going to lose the home but then I found out through HUD that Penny Mac is required to review me for homeowner assistance options to help me get back in good standing.
I was forced to file bankruptcy to postpone the foreclosure auction by Penny Mac because I had never been granted access to government programs that they are required to make available to struggling homeowners with FHA loans. I have never been reviewed or considered for any of these programs. My husbands passing was unexpected and tragic and difficult to keep up with the bills and payments on one salary. We were blessed to receive some insurance money and were able to use this to help make ends meet for several years. I have worked for XXXX XXXXXXXX XXXX XXXXXXXX for 14 years in XXXX XXXX I was considered a XXXX XXXX and worked throughout the pandemic. As I explained I did try to find a solution through the Maryland program and also tried to see if Penny Mac would help but had a bad experience. I have had to handle my problems myself since my husband passed and I thought I would be able to get back on track with the mortgage and caught up, but before I had a chance Penny Mac tried to sell my home.
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| 10/05/2023 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
- Escrow, taxes, or insurance
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Web |
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I have a conventional mortgage that was sold from a previous lender to PennyMac in fall of XXXX. I am submitting a complaint to the CFPB because this company has underestimated my escrow account by almost {$12000.00} which has doubled my monthly payment from {$1500.00} a month to {$3000.00} a month to make up the shortage.
When I initially took out my mortgage, I purchased a new build property in XXXX. I was advised by my first mortgage company to make extra payments into my escrow account because at the time, the property taxes estimated by the XXXX XXXX appraisal district was only accounting for the land only and not a house and land. I followed their advise from XX/XX/XXXX to XX/XX/XXXX. XXXX through that year, my first mortgage company sold my mortgage to PennyMac, however, I continued with the same advise to put extra into my escrow account.
In XX/XX/XXXX PennyMac conducted an escrow analysis on my account and reimbursed me all of the extra payments I had made between XXXX XXXX- XXXX XXXX. I called to question PennyMac about their escrow analysis of that year because it did not look like they were accounting for the increase in property taxes that were to be due in XXXX of XXXX. I was told by a PennyMac representative in XXXX XXXX that their escrow analysis is accurate and advised me to trust their estimates.
Fast forward to XX/XX/XXXX, PennyMac conducts another escrow analysis where they find that my escrow account in nearly {$12000.00} short. The options that they gave me were to either pay the shortage in XXXX payment by XX/XX/XXXX or to pay this shortage monthly doubling my monthly mortgage payment from {$1500.00} to {$3000.00} a month.
When I called to figure out why my escrow account was nearly {$12000.00} short, I was told by PennyMac representatives that this was my fault for not monitoring my escrow account and that they instead can spread the payment shortage across 36 months lowering my new monthly payment from {$3000.00} to {$2200.00} a month or I can look into refinancing.
I am writing this complaint because I feel as though I can not trust my mortgage lender to manage my escrow account effectively. Additionally, given the circumstances, I am being held accountable for a mistake that is not my fault. By the time this mortgage lender received my loan, they knew what my property taxes would be for the next year and completely neglected this information until a year later and held me to the fire.
I am very thankful that I am in a position to pay either of my new monthly amounts, however I am concerned because this {$12000.00} mistake could very much happen again. While property values across the XXXX have risen exponentially mine had minor increase from XXXX to XXXX and it was not properly estimate by PennyMac and instead was blamed on me the consumer. To put into perspective, my previous monthly payment accounted for only 18 % of my monthly take home pay. This new $ 3000 monthly payment is over 35 % of my monthly take home pay. This leaves me little margin to save, pay off student loans, and cover other necessary monthly expenses when I know I didn't do anything wrong, except listen to PennyMac 's advise to their consumer.
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| 08/17/2021 |
Yes |
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- Trouble during payment process
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Web |
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We have a mortgage loan with PennyMac Loan Services , LLC . Wee have had this loan with them since XXXX. XXXX. We have been set up with bi-weekly payments that have been scheduled since then for every other Friday. This past Friday, they were supposed to take out a bi-weekly payment, but it was not. My wife called and asked about it. She was told that somehow the system kicked us out of the Auto Payment and that she needed to make a payment that day. She was given an amount of {$590.00}, and the payment was processed. On the same call, the lady said that she made a mistake that there is need for another payment of {$260.00}, which she paid it too. This lady said that was it for now. Well today, when Im looking at our account, I see that they have been several mistakes on their system. I called and they are not willing to give me a concrete and accurate answer. These are my questions : 1. ON XX/XX/XXXX. There is a payment processed for {$920.00} that was applied to Principal Reduction. As of XX/XX/XXXX, The Principal balance showed to be {$170000.00}. On the XXXX of XXXX after this payment was applied the principal went down to {$170000.00} and on the same day, after THEY made a correction for the same {$920.00} as Misapplication of Principal ; the balance went up to {$170000.00} and leaving the {$920.00} in Suspense and continues to be there.
2. On XXXX XXXX, my wife was informed that we needed to make a payment immediately of {$260.00} and {$590.00}, which we made, and they were applied to two transactions of Regular Payments.
3. On XX/XX/XXXX. When I called XXXX XXXX Services. I spoke with Mr. XXXX with Customer Service. He was rude and told me that we had requested to be taken out of automatic payments as of XXXX the XXXX. He couldnt explain why we would do that if the automatic payment was scheduled for XX/XX/XXXX, and we were calling to inquiry why the payment had not been processed. He then informed me that they are holding an amount of {$320.00} in suspense and that I need to make a payment of {$590.00}. I was so confused.
4. I asked to speak with a manager or Supervisor. Mrs. XXXX came on the line, and she was telling me that I needed to make a payment for {$850.00} and that I took the account off from the automatic payment process on XX/XX/XXXX. I asked her to explain how was it that for the month of XXXX the system still took payments off as automatic. She was rude and was hard to talk to. She said that maybe I didnt understand English, that maybe I couldnt use a computer and was in the wrong system. She was very disrespectful to me because I speak English with an accent. She said she was not willing to explain any of the missed step their company did, because I was not going to understand her. She said, Just make the payment or I hang up the call. I politely asked if I could speak with another manager or if she can put this inwriting since I keep getting different stories from different people. I needed to ensure this account was corrected and then I would make any payment that needed to be made. Just accept that PennyMac made a mistake, we fixed the issue and move on. She was not willing to do it and hang up the phone with me.
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| 05/13/2022 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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I contacted PennyMac via phone several times in XXXX to ask for my PMI to be deleted since my house had reached a loan to value of above 80 % which validates PMI deletion. I was put on hold for 30+ min each of the times I called. I then resorted to using their online messaging center which I contacted then on these dates.
XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, and now XX/XX/XXXX.
The first 2 times I requested PMI deletion, I received an automated letter stating that I did not have the loan to value of 80 % but could still be eligible for PMI deletion if the market price was above 80 % and made improvements ( which I have ) or reached a LTV or 75 % or greater after 24 months of PMI payments.
*My house at the time had a LTV double of what they require. * I responded that I was eligible under their guidelines and wanted to proceed with PMI deletion. I received another automated letter informing the same. I then sent the XX/XX/XXXX message claiming that PennyMac services were fraudulent since there appeared to be massive barriers purposely put in place to prevent individuals from removing PMI.
Within 1 week a representative called me on ( XX/XX/XXXX ) to find out more about the fraud. I discussed with them that all of their services such as making payments and talking with loan officers were handled within 5 min while trying to remove PMI had perceivable engineered roadblocks. The agent agreed with me and within 15 min had someone to discuss PMI contact me. I shared all my information and paid {$100.00} for an appraisal to be done. I was also told I would receive a notice within 5-7 business days. Afterwards I received another letter on XX/XX/XXXX that was postmarked XX/XX/XXXX. This letter stated that I was not eligible PMI deletion additionally my {$100.00} dollars has not been refunded or a individual contacted me.
I then called customer service to discuss the letter I received stating I was not eligible for PMI deletion and that I wanted an appraisal done. The customer representative told me the only way I could get an appraisal was to take out another loan. Since I was curious on the current market rates and how much my house was worth I decided to look at getting a new loan. Within 15 min the loan officer said my house had moved substantially in value according to their internal budgeting software and if I took out a new loan I could receive $ XXXX in cash & remove my PMI.
So here is a concise list of my complaint.
1. PennyMac has engineered their system with numerous roadblocks to remove PMI. One of the ways they do this is to create massive time delays which negatively hurt single parents and financially sensitive demographics who can not take time off like I can.
2. PennyMac has not refunded my money furthermore adding question about their ethics.
3. PennyMac systems push people into new loans instead of helping resolve legitimate problems.
4. PennyMac due to numerous delays in removing my PMI has now collected several months of PMI payments totaling hundreds of dollars.
PennyMac is either grossly negligent or is engineering their systems to take advantage of home owners stealing both valuable time and money.
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| 09/07/2022 |
Yes |
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- Struggling to pay mortgage
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Web |
Servicemember |
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XXXX : My home loan was in forbearance from XX/XX/XXXX to XX/XX/XXXX. I qualify for two Veteran Affairs programs, and although not legally required, PennyMac isn't honoring these programs. Only having two options ( lump-sum or loan modification ) puts me in a larger financial bind than when I started the forbearance. I feel I'm being punished for using forbearance and would like PennyMac to honor one of the two VA programs I currently qualify for.
- In XX/XX/XXXX, I requested forbearance on my PennyMac VA home loan ( single-family home ) - On XXXX XX/XX/XXXX, my forbearance period expired.
- At the end of this forbearance period, I owed {$15000.00}.
- I was under the impression that I could file for the Veteran 's Assistance Partial Claim Payment Program, which expires on XXXX XX/XX/XXXX.
- On XXXX XX/XX/XXXX, I called PennyMac several times. I was told by two representatives that the VA stopped the Veteran 's Assistance Partial Claim Payment Program. I informed them that the program doesn't expire until XXXX XX/XX/XXXX and I have four months to file the paperwork, to which they both re-stated that PennyMac stopped processing these requests on XXXX XX/XX/XXXX because it takes over 60 days to process.
- On XXXX XX/XX/XXXX, I contacted my VA Loan Technician ; he confirmed that PennyMac was one of three companies who stopped filing claims for Veteran 's Assistance Partial Claim Payment Program, but he said I met all of the qualifications for the Veteran 's Disaster Extension Modification ( VA Manual 26-3, Chapter 5 ). The VA Loan Tech initiated a three-way call with me and PennyMac to discuss this option for me. The PennyMac rep had not heard of this option ; further stating my only two options were to pay the lump-sum or to do a loan modification. I currently have a fixed rate of 2.375 % on my home loan, and the VA Loan Tech asked them to look at the VA Disaster Extension Modification ( this program would put 12 months of mortgage payments at the end of my mortage without interest ) option because modifying my loan at the current rates would put me in a financial bind ; basically, I would end up in a worse financial position than when I started the forbearance. PennyMac insisted I only had two options but would submit a request to the PennyMac Loan Mitigation department to research the VA Disaster Extension Modification as an option for me.
- On XXXX XX/XX/XXXX, the VA Loan Tech sent me Chapter 5 of the VA Manual 26-3, which I then submitted through my PennyMac account portal at XXXXXXXX. I received a message back from PennyMac on the same day at XXXXXXXX stating the information was forwarded to the Loss Mitigation Department and to " ... please allow time for your single point of contact to reach out to you to address your concerns. '' - On XXXX XX/XX/XXXX, I submitted an application for the Virginia Disaster Relief Program. At XXXX the same day, I sent a message to PennyMac through my loan portal to let them know. At XXXX PennyMac responded with the same message sent to me on XXXX XX/XX/XXXX.
Thank you for your time and attention with this matter. I hope to reach a solution that satisfies me and PennyMac.
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| 08/25/2017 |
Yes |
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- Incorrect information on your report
- Account status incorrect
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Web |
Older American, Servicemember |
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I have a VA loan that was sold by Mortgage Company to Penney Mac Home loans.
My payments were always on time up to when my checks from the government were stolen.
I immediately contacted and submitted evidence to Penney Mac of ID Theft and Fraud. I froze my files with Credit Bureaus to prevent any further theft.
Penney Mac said they would modified the loan due to the predicament I was in.Within a month, with borrowed money I was able to make payments.
Penney Mac told me not to make the payments because it would change the numbers in the Loan Modification, and for me to wait for the papers. I kept calling them and they kept telling me I should be getting the documents.
I explained my concern over lateness reporting affecting my credit. Told me to no worry, that with a Modification, scores will be fixed in time.
Penney Mac first approved payment was InXX/XX/XXXX.They reported me late from XX/XX/XXXX toXX/XX/XXXX ; which was their own doing for delaying the modification and telling me not to pay. Trying to refinance with Credit Union who will approve loan but needs Penney Mac to fix its credit reporting.
I have been working with Credit Bureaus since I found out on XX/XX/XXXXthat PenneyMac had reported me over 180 days late to the Credit Bureaus, without any explanation to me or the Bureaus.
I was granted a car loan by the Credit Union inXX/XX/XXXX. I have been trying to get the lateness reported resolved with PenneyMac and disputing with the Credit Bureaus what has happened. I have called Penney Mac 18 times. Submitted a complaint with their Customer Service department. Was able to speak to the Modification Department once, and they claimed " no knowledge of what I am stating. '' I asked for a Supervisor or someone who can help me. They claimed they have " No Supervisors, '' and that everything is done electronically. They kept routing me to wrong departments with long waits of 25 minutes and longer, only to hang up on me when they picked up the phone.
Their phone number XXXX listed in the Credit Report is no longer working.
I personally visited our Senator 's office in Colorado and was able to find out that PenneyMac has no physical building in Colorado but a Registered Agent by the name of XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX CO. XXXX. This a place where anyone or any business can register, to show they have an address in Colorado, which leaves me and any consumer unable to deal with a problem face to face ; and I am wondering if that is legal at all.
The disputes I have entered with XXXX Credit Bureaus all come back as if everything reported in my account is correct.They too, ca n't speak to anyone, but comes back electronically to them. The Bureaus do n't know if it is a computer at PenneyMac responding, or a person. The Credit Report shows that PennyMac will keep reporting the negative portion of my account untilXX/XX/XXXX, including 2 months that show " ND '', meaning " No Data '' but its counted against me.
I need PenneyMac to make good on their words and not count against me something negative credit reporting due to their delays, which " has '' and " is '' affecting me on a daily basis. Thank you
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| 08/01/2022 |
Yes |
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- Trouble during payment process
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Web |
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I have requested twice for my account to be reviewed and corrected by someone other than the individual XXXX. for the following reasons below and have not received a response I have called and emailed with no luck and my account is still incorrect and I am still having payments missed applied and my accrued interest collecting incorrectly. I do believe that PennyMac is fraudulently using the XXXX relief partial claims system to mislead and take advantage of individuals who are already facing difficulties due to the pandemic. I request that the CFPB to an investigation.
In addition after my phone call and submitting a request on XX/XX/XXXX several documents I have previously submitted and aknowledgments that had been on my Pennymac account have been removed. Please see attached.
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XX/XX/XXXX PennyMac Loan Services , LLC Attention : Correspondence Unit XXXX XXXX XXXX XXXX XXXX, CA XXXX ] XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX AZ XXXX XXXX : CFPB Case File XXXX Mortgage Loan Number : XXXX I am writing in reference to my previous request for correction of the error described below in regard to the mortgage on my property at XXXX XXXX XXXX XXXX XXXX XXXX XXXX Az XXXX XXXX
On XX/XX/XXXX, I requested that the response submitted to me through the CFPB website from PennyMac be reviewed by a supervisor for the following reasons and I have not received a response.
I am asking that the following questions be addressed by a supervisor and a response be no later than XX/XX/XXXX.
My Request submitted to CFPB I am requesting that someone else review my account. You have missed represented several points in the conversation I had with you and individuals in your organization.
XXXX ) This issue of the XX/XX/XXXX payment was not addressed. You stated that you applied for the payment I made to the outstanding payment for XX/XX/XXXX and you also stated that XX/XX/XXXX was included in the PennyMac advanced {$7300.00} to the loan. Therefore, the payment of {$1500.00} can not be applied to the XXXX payment and also calculated in the balance of the partial claim. Please explain/clarify how that is not collecting {$1400.00} for XXXX from me twice.
XXXX ) The payments I made in XXXX, XXXX, XXXX, XXXX, and XXXX Should be allocated to the date you received the payments, not XX/XX/XXXX when PennyMac moved the funds from the suspense account.
XXXX ) I never received the documents originally and requested to have them resent. I also never forgot about them I could not locate a notary that was available on my schedule.
XXXX ) I did not request that you apply for my payment from XXXX to my principal- I specifically requested that you send me a full accounting of all money received and applied and after I review the documents, we would then discuss it. You never sent me the accounting that I requested. Again, I am requesting one last chance for someone to be assigned my account to review and contact me immediately. You did not follow through with anything from the conversation we had on the phone and your information is incorrect frankly I find several miss truths.
Respectfully, XXXX XXXX XXXX XXXX
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| 04/04/2023 |
Yes |
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- Incorrect information on your report
- Public record information inaccurate
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Web |
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In XXXX, I was forced to file XXXX XXXX XXXX. I did not want to include my mortgage or my auto loan in the bankruptcy, but my attorney told me this is required for XXXX XXXX XXXX due to the fact that it determines your monthly payment which is paid to the Trustee.
In XXXX, I lost my job and Covid hit, which meant I was unemployed the majority of the year and had to transfer my XXXX XXXX XXXX to a XXXX XXXX On XX/XX/XXXX, I signed an Intent for XXXX XXXX Filing which indicated that I was to reaffirm both my auto loan and mortgage and my attorney filed this document on XX/XX/XXXX.
I was not aware of any additional filings done by my attorney and I never went with him to court, nor did he keep me apprised of document filings or any issues with documents we had filed to date.
As of XX/XX/XXXX, I pulled my credit report to determine why my credit score was not increasing although I had reestablished credit and was making all other payments on time every month. I noticed that my mortgage, which was opened in XXXX, showed as closed in XXXX due to bankruptcy. The mortgage company said that since the mortgage was not reaffirmed, the only way my mortgage would ever be reported again would be if I refinanced or if I bought a new home, establishing a new mortgage. My credit score was over 700 when I bought my home and I have a 4 % interest rate, so it would cost me more to refinance and I have no idea if I would even be approved for a new mortgage with such a low credit score and no rental payment history or mortgage history.
I contacted my attorney and he was disinterested in explaining what happened or trying to fix anything. The credit reporting agencies kept telling me to file disputes that included payment history proving that I was making timely payments. This tact never worked and there was never any change.
Finally, this past XXXX, I logged onto the court website and downloaded all documents filed in my bankruptcy, which is how I got the Notice of Intent with the mortgage listed to be reaffirmed as well at the auto loan, which that reaffirmation agreement was filed XX/XX/XXXX. I reached back out to my mortgage company more than once now and I have sent them this document, as I don't think it's fair that I am being punished with what is essentially a 25 year penalty for having to file bankruptcy since my attorney did not do what we agreed he would do or what he was paid to do. When I speak with the mortgage company, they tell me that I can not speak directly to their Bankruptcy Dept, but they have sent them the document to see if a reaffirmation agreement can still be signed and filed to try to correct this error, but they have never gotten back to me.
I'm honestly not sure what to do in this case. If a reaffirmation agreement can still be signed and filed, I would like to do that to keep my current loan terms and have my payment history reported to the bureaus again. It seems like my mortgage company has sent the documents and request into a black hole and they are not keeping me updated on what is happening. Any help at this point would be greatly appreciated.
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| 03/26/2021 |
Yes |
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- Trouble during payment process
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Web |
Servicemember |
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Pennymac has increased my mortgage by an extravagant amount which is unwaranted. In XXXX XXXX 2021, there has only been a XXXX dollar increase in my insurance, and only an XXXX dollar increase in my Property Tax. Therefore, the total annual increase for my combined taxes and insurance is XXXX dollars. Without justification, PennyMac is asking me to pay them over XXXX dollars for 2021 and increasing my mortgage payment by XXXX dollars per month. Every year, PennyMac is making me pay escrow backpay for the previous year 's escrow buffer, plus the current year 's buffer - and I am still ending up short at the end of each year because Pennymac expects the previous year 's escrow reserves to be paid twice.
Without the 2 month reserve/buffer, my annual property tax/insurance increase of XXXX should only require XXXX to be added to my total annual escrow needs ( XXXX = XXXX x XXXX = XXXX ) and only a XXXX dollar increase to my monthly escrow amount. My current escrow is XXXX. With the XXXX increase, my new escrow should be XXXX. When including the two escrow reserve payments of XXXX ( XXXX x XXXX ) and dividing that monthly, the reserves add an additional XXXX per month ( XXXX = additional XXXX. ). My new escrow payment should be XXXX ( new amount XXXX based on property tax/insurance increase, plus the XXXX reserve amount ).
My mortgage payment should only increase by XXXX ( XXXX minus existing XXXX current escrow ). My new mortage payments should equal XXXX. PennyMac states my new mortgage payments should be XXXX - they are asking for XXXX MORE THAN REQUIRED BY LAW! For a XXXX dollar increase in taxes and insurance - PennyMac is asking me to pay XXXX annually, which is not warranted.
I am fully aware of the requirements to have 2 months of escrow in reserves. I explained this over and over again on the phone to the PennyMac representative. PennyMac is unable to justify increasing my mortgage by XXXX annually for a XXXX dollar TOTAL increase in property tax and insurance.
Nobody from PennyMac called me back or tried to call me back. The representatve I spoke to told me " PennyMac estimated a semi-Annual Property Tax payment of XXXX '' - which is illogical considering I never having paid less than XXXX for a semi-annual payment since I owned the home and my lowest semi-annual payment of XXXX was almost 10 years ago. I told her that did not make sense and she said she would look into what happened.
PennyMac also states the following " The most significant factor affecting the payment increase in 2021 was an increase in both your taxes and homeowners insurance. This resulted in a projected escrow shortage of {$390.00} and a shortage in the reserve of {$690.00}. '' As calculated above, the total increase to my monthly escrow amounts should be XXXX. PennyMac is also denying that I made ( and that they received XXXX an additional payment last year THAT THEY BILLED ME FOR SEPARATELY based on their " recalculation '' of my escrow - which I have proof from my bank that I did pay.
I do not want my case closed until it is fully examined by a CFPB examiner. Thank you.
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| 08/09/2019 |
Yes |
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- Trouble during payment process
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Web |
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On XX/XX/XXXX I received a letter from PennyMac Loan Services, my mortgage company, stating that I need to verify coverage for wind and hail insurance for the time period of XXXX. They had sent me a letter prior to this stating that I needed the same coverage for XXXX and that if I could not provide proof of coverage I would be able to get it or they would provide it for me. Due to the initial letter, I obtained coverage for the year XXXX. This was the first time I had received any notification that I needed this coverage and I resolved it immediately for the current year. After receiving the letter on XX/XX/XXXX I called them to find out how I was supposed to get coverage for a previous year and why I had not been notified of this last year. They told me it would be taken care of. I then received a letter dated XX/XX/XXXX that the coverage they purchased on my behalf was cancelled effective XX/XX/XXXX and the money would be refunded to my account. There was never any coverage purchased that I am aware of, if there was I would have been paying more in my mortgage every month and no money was refunded. I received another letter dated XX/XX/XXXX stating that they were planning on buying insurance for the property and I must pay them for any period which the insurance they buy is in effect, but I did not have insurance. I then received a notice dated XX/XX/XXXX, which states " second and final notice '' requiring me to provide insurance information for the property and they are unable to verify coverage from XXXX. Again they state that if I do not have wind coverage for my property for these dates it will be provided for me, by them, at my expense and it will be billed to my escrow account or added to my loan. It also states it may be more expensive and may not provide as much coverage. When I called to try and understand what was going on I was told " the insurance is required ''. When I questioned why I never received a notice last year about this I was given the answer " they thought I had coverage last year and when they saw I did not have coverage this year it flagged them to look back on last year ''. The woman then stated that it was an " oversight on their part ''. When I asked her why I was going to have to pay for their mistake I was told, once again, that it was required. When I asked her how I was supposed to obtain coverage for a year that passed she again stated " it's required ''. I then told her that no insurance company is going to provide me coverage for last year and I was going to call a lawyer. I've since spoken with several mortgage lenders and insurance agents and was told by all of them that there's no way to get coverage for last year and in there opinion it is ridiculous that I be charged for insurance that I never had both privately or through PennyMac. They should not be able to charge me for insurance they never bought and overlooked my not having. I don't understand how I was supposed to know it was required by them without getting any notifications. Once I received notification, in XX/XX/XXXX, I immediately obtained what was required.
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| 12/28/2015 |
Yes |
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- Loan servicing, payments, escrow account
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Web |
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This statement is a follow-up to CFPB Case Number : XXXX. PennyMac Loan Services , LLC is committing fraud by not reporting or writing my direct advanced payments in the Annual Escrow Account Disclosure Statement ( Dated XXXX/XXXX/XXXX ) provided to me by PennyMac. I have neither missed nor late in payments on my VA Loan mortgage since I bought my home XX/XX/XXXX ( Currently paid {$1700.00} mortgage for the month DUE of XX/XX/XXXX last XX/XX/XXXX. These payments were accepted by PennyMac directly from my bank and from the County of XXXX XXXX Treasurer-Tax Collector XX/XX/XXXX-XX/XX/XXXX ; these payments are : {$1200.00} on XX/XX/XXXX from my bank ; {$1900.00} XXXX Installment Transaction Date XXXX/XXXX/XXXX XXXX ( Transaction ID xxxxxxavailable ), XXXX Installment {$1900.00} Tran-Date XX/XX/XXXX XXXX ( Transac ID XXXXavailable ) Property Tax payments for Fiscal Year XX/XX/XXXX and Ending XX/XX/XXXX. PennyMac have sent me {$780.00} SURPLUS Disbursement Check Voucher ( Check Date : XXXX/XXXX/XXXX ). Very STRESSFULLY CONFLICTING TO ME, PennyMac have sent me and my wife THREATHENING/HARRASSING LETTERS OF NOTICE OF DEFAULT AND INTENT TO ACCELERATE foreclosure, loss of property, negative report to the credit bureaus ... etc. Deceiving terms being used ; since I bought my house XX/XX/XXXX till XX/XX/XXXX ( almost two years ) I have paid my property tax, and my Monthly Mortgage Statement sent by PennyMac of {$1400.00}. Upon re-evaluating/reviewing my monthly mortgage BY PennyMac in XX/XX/XXXX stated that my monthly payment should be {$1700.00} to include Property TAX. Hence, property tax was/is paid by me ever since I bought my VA Mortgage home, WHY is PennyMac not crediting/refunding/returning paid excess property tax payment to me first, the County Tax Collector have been paid till XX/XX/XXXX ; OR, credit it to my account with me paying {$1400.00} till final disbursement in XX/XX/XXXX. OR, better yet In response to my CFPB Case Number : XXXX, XXXX XXXX XXXX Priority Complaint Specialist, PennyMac Loan Services LLC, my LATEST Monthly Mortgage Statement Amount Due : XXXX/XXXX/XXXX is {$5200.00}. I am aware that my VA Loan mortgage payment pays for my Thirty ( 30 ) years Fixed Rate of 3.25 % for {$320000.00} only for PRINCIPAL, INTEREST ( {$1400.00} ), and PROPERTY TAX. My home insurance is also paid/covered till XX/XX/XXXX. PennyMac is committing fraud for collecting with threat/schemes already paid property taxes, accepting disburse money from me and the County Tax Collector Office 's and not reporting all on the Annual/Monthly Statements for paid previous property taxes. With clear conscience, I paid my property taxes ever since buying my home knowing that it was NOT IN ESCROW when I signed the contract, ensuring that I would not PAY " ESCROW '' but the term " impound '' was use which I was not aware ; hence, I was focused on the word " ESCROW. '' REGARDLESS!! PennyMac if it is an honest mortgage lender should/shall credit paid property taxes in my account as mentioned above or returned to me. Documented payments from me will all be accounted for, it is simple math.
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| 11/27/2018 |
Yes |
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- Struggling to pay mortgage
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Web |
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I am facing a foreclosure sale date on XX/XX/XXXX because my loan servicer Penny mac has denied me access to government assistance programs that they are required to offer homeowners with FHA loans backed by HUD. I have been trying to work with them and submitted my financial information numerous times, but they continually assign new people to my case, have changed my point of contact three times in the last three months and most recently told me that my documents had been received too late to review. I made sure to mail them in 6 weeks prior to my sale date and verified that the documents were in their office 40 days prior to the sale. However, Penny mac said it was too late and they would not even look at my documents. To make matters worse, they are breaking New Jersey protocols and laws by failing to offer state mandated mediation. I work as a XXXX XXXX and make a good living and could afford a fair and reasonable payment if Penny Mac would actually allow me access to all government programs. That is the issue here.
My ex-husband and I bought this home in XXXX. We refinanced in XXXX to take care of a bad mold problem and had to gut the house to fix the problem. In XXXX we decided to refinance into a high interest FHA loan through XXXX XXXX XXXX so that we could get caught up on our bills. I had no problem making the monthly payments until my ex-husband and I split up in XXXX. I lost his income and it was hard to keep up. In XXXX my company was going through a tough time and told me they had to cut me back to 3 days a week. The combination of divorce and no income from husband and my reduction in hours led me to default on my FHA loan. I immediately contacted XXXX XXXX XXXX and explained the situation. They told me that HUD had programs available for employed homeowners who had lost hours and I made reduced payments for a few months. Then I was laid off and unable to make that payment and fell further behind.
I hired a law firm to assist me but they ended up providing no help. I did not have a modification and I was out thousands of dollars. I tried repeatedly to apply for a modification through XXXX XXXX XXXX and after the loan was transferred to XXXX XXXX I continued to apply. I was not able to become approved for any help -- -the offers I received kept my payment the same, or increased it, there was no payment reliefthere was no partial claim offered where a portion of the arrearages would be removed from the balance and put into a silent 2nd. There was no offer of a special forbearance to make the modification more affordable. My interest rate right now is 6.5 %. I work as a XXXX XXXX and make a good living. I find it hard to believe that there are no programs through HUD that I qualify for that could offer some type of payment relief through modification and reduced interest rate or increased term, partial claim or special forbearance. The obvious truth is that Penny Mac has obstructed access to these programs and is denying me my chance and right to be considered for government programs designed to help people in my situation.
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| 01/25/2017 |
Yes |
- Mortgage
- Conventional fixed mortgage
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- Loan servicing, payments, escrow account
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Web |
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I mailed my mortgage payment to PennyMac Loan Services on XXXX XXXX, XXXX ( I have proof of doing so ), but my payment was not credited to my account until XXXX XXXX, XXXX, the day after the payment is considered late. PennyMac has in the past credited my payment later than the day that it was received. I know this because I have sent some past payments by certified mail and I saw that, on occasion, PennyMac did not provide a credit to my account on the day the payment was received.
This is not the first time that I have filed a formal complaint against PennyMac with CFPB regarding this same issue. I also filed a complaint on XXXX XXXX, XXXX. On that occasion, I had mailed my payment to PennyMac on XXXX XXXX, XXXX, and PennyMac did not credit it until the day that I filed the complaint on XXXX XXXX, XXXX.
At this point, I think that this is a pattern of behavior for PennyMac. When I called PennyMac yesterday to complain about my payment being credited late, they immediately started encouraging me to pay my mortgage in other ways ( such as electronic payments ). My impression is that they would rather I use another method to make my payments instead of mailing in a check every month.
This would all appear to be extremely unscrupulous. At this point, I want PennyMac to sell my loan to a company that will fairly credit my payments in a timely manner as required by law. I have never had a late mortgage payment and it is a pain in the neck to have to take extra measures to be able to prove that I mailed in my mortgage payment on time every month.
On this occasion, PennyMac did not credit my payment to my account until 12 days after I mailed it, then they charged a late fee to my account. When I asked the customer service representative why they did not credit my account in a timely fashion, she said the same thing that they said 2 years ago : We had bad weather across the country and it held up the mail. She even said that they had trouble getting to their lockbox even though it is in XXXX, Texas.
The bottom line is that this is the second time that I have submitted a formal complaint to CFPB about this practice at PennyMac. It is a heavy burden to write a large check every month for my mortgage and not know whether I will receive the credit that I am supposed to receive under law. At this point, it is clear that this is not an isolated incident with PennyMac. I will enclose an official Certificate of Mailing from the U.S. Postal Service showing that I mailed my payment on XXXX XXXX, XXXX, as I previously stated.
It is completely unreasonable that PennyMac credited my payment a full 12 days after I mailed it. Whenever I have sent my payment using Certified Mail, it usually arrives at PennyMac in 3 days. Occasionally, it takes 4 days but never more than that. It is obvious that PennyMac has not credited my account in a timely manner and this is the second time that this has happened. This is a pattern and they should sell my loan to a company that will credit my account on the day that they receive the payment as is required by law.
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| 10/22/2019 |
Yes |
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Web |
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I started the streamline refinance process on XX/XX/19. First issue was that PennyMac ( who purchased my loan ) had mine and my son 's social security numbers entered into their system backwards which is why they could not find my loan. Then they did not have the loan reported to the credit bureau. I did the application over the phone with the lender named XXXX XXXX at PennyMac on XX/XX/19. He ran my credit that day. He assured me that the streamline refinance was a fast process and we would close by the end of XX/XX/XXXX. My son, who is also on this loan, was supposed to do the phone interview with XXXX XXXX as well, but he was unable to reach him on several occasions. I email XXXX XXXX on XX/XX/2019 and told him that we tried to call him last week and did not get a return call and requested for him to contact my son XX/XX/19 at XXXX due to his school and work schedule. XXXX XXXX did not answer the scheduled call that day. I emailed him again on XX/XX/19 and informed him I would be traveling soon and to call my sons cell. My son did not get a call and he did not get his calls returned from XXXX XXXX. I emailed XXXX XXXX again on XX/XX/19 informing him that he has not called my son back and I needed this done before I left town. This did not get done. I returned from vacation on XX/XX/19 and XXXX XXXX still had not reached out to my son to complete his application. On XX/XX/19 I called PennyMac and asked to speak to a manager. They transferred me several times and someone said they couldn't reach a supervisor but would make sure they speak to XXXX XXXX and he will get back to me immediately. XXXX called me back the following day, but because of his lack of response my application had expired and he had to redo my application and re-pull my credit on XX/XX/19. He also completed the application with son. I was told there would be a rush on this and they would close me within a few weeks. I received the disclosure and documents on XX/XX/19 but they incorrect. All of the fees were incorrect and it showed me bringing negative - {$130000.00} to closing ( which would be them giving me money ). I emailed and called to inform them of the errors. XXXX XXXX called me back on XX/XX/19 and said they messed up the numbers and they were sorry. He assured me this would be corrected immediately. I have not heard from him nor have I received corrected documents since our conversation on XX/XX/19. I have called XXXX XXXX and I have called PennyMac with zero response. I was told that a supervisor named XXXX XXXX would call me back, but he did not. I called back on XX/XX/19 and asked for a supervisor and after an hour on the phone being transferred around, I was told that XXXX XXXX 's supervisor XXXX XXXX would call me back same day, but he did not call me yesterday or today. I have now had to hard hits to my credit which I am very upset about and I still have not received any information about my refinance. I am uploading documentation of emails I have sent, both times he pulled my credit and the closing disclosure with all of the financial errors.
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| 10/17/2022 |
Yes |
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- Struggling to pay mortgage
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Web |
Servicemember |
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I filed for XXXX XXXX bankruptcy a few years ago, I think XXXX. What I understood at the time was the pre-petition amount I owed on my mortgage was supposed to be in my plan along with my vehicle and the attorney fee ; the post-petitiin amount I was supposed to take care of myself.
I attempted a loan modification which was not handled properly by the lender as they sent me documents that were already expired and refused to correct and resend. The terms were also not reasonable or even conducive to me keeping my home, I denied it. When I made an additional payment, the lender treated it like a regular payment rather than put it toward the post-petition arrears. The lender informed me that it was up to them how any payments were applied. They blocked me from paying online which is of course faster and easier. When I changed insurance companies, the lender recalculated my mortgage payment and that is the amount I have been paying. The lender or anyone else ever told me the post-petition amount wasn't included in that recalculation so essentially, no funds have been going to that amount of arrears. They also reported to my bankruptcy attorney that I missed a payment that I provided my bank statement showing that I made. I did apply for forbearance in XXXX because I was only received part time pay from my previous job due to covid, I did XXXX XXXX payment under that plan. I applied for the XXXX XXXX XXXX XXXXXXXX due to the financial strain that had been caused by covid because I was reduced to part time pay for 10 months, and got approved in XXXX this year. As of today, the mortgage company has not provided the necessary information to Dept of Community Services in order to receive the grant toward my mortgage.
After paying into the bankruptcy plan since it began, the only thing payed in full is the attorney. The plan just began making payments to my prepetition mortgage amount this year and because of the difficulty with how my extra payments were to be applied, the post-petition amount hasn't been payed off either.
The lender is now petitioning to remove the stay of protection of the bankruptcy in order to foreclose on my house.
I do not feel this situation to be fair to me by neither the lender or the bankruptcy. The situation is much worse now even though I have been paying into the plan and making the current mortgage payment. I'll admit my financial struggles have not improved and the bankruptcy is in XXXX although I've done everything I can to get above water because now it is danger of being dismissed.
Despite my XXXX and worsening medical problems due to the prolonged stress of this situation, I am working full time and looking for a second job to try and pay more towards whatever I can to fix it. Thinking the XXXX XXXX was going to help and trusting the lender to help was a mistake, everything is just worse now.
I need help to figure this out, the bankruptcy was supposed to help me and it hasn't. The HAF could help me but the lender won't let it. This is all just wrong and unfair and I need help. Please.
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| 03/14/2017 |
Yes |
- Mortgage
- Conventional adjustable mortgage (ARM)
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- Loan modification,collection,foreclosure
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Web |
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We are XXXX , XXXX property owners of unit located at building XXXX Florida, XXXX. XXXX is the borrower on loan # XXXX with Penny Mac. After 3 unsuccessful attempts at Loan Modifications, we initiated a short sale negotiation with that lender, In XX/XX/XXXX. We diligently sent to the lender all the documentation it required for its evaluation of our short sale proposal and followed the lender 's instructions on the listing of the property for sale. The lender commissioned a XXXX ( XXXX ) and it was done in XX/XX/XXXX. The property was listed for sale in the open market for {$130000.00} based on the last sale ( {$140000.00} ) done in the same building with the same apartment dimensions XX/XX/XXXX in a higher floor ( # 507 ), in XX/XX/XXXX. The highest offer received was {$140000.00}. That offer was submitted to the lender and it was rejected. That buyer counter offered at {$140000.00} and would assume payment of the past due {$33000.00} in condominium maintenance fees plus {$15000.00} in repairs that are needed in the unit. The lender responded, wanting {$270000.00}. I questioned their basis for their estimate and the lender sent back comparable on luxurious buildings that were not within the same price range and did not have the same accommodations as the subject unit. I responded with a comparable sales report of 2 units in the same building ; one was a XX/XX/XXXX ( unit # 507 ) in a higher floor, sold in XX/XX/XXXX for {$140000.00} and the other was a fully-remodeled XX/XX/XXXX ( unit # 604 ) in a higher floor, sold in XX/XX/XXXX for {$160000.00}. The lender replied with another counter offer, for {$210000.00} on XX/XX/XXXX. The unit was thereafter listed for sale for {$210000.00}. No one has asked to be shown the unit or made an offer for that price or any price since that listing. I repeatedly pointed out this to the lender, throughout the many telephone conversations we 've had since XX/XX/XXXX. I have also requested in several occasions to escalate the file for a price review and also asked for the contact information for the investor who owns this mortgage, as each request for a price review was not answered with any grounds supporting the {$210000.00} price. The lender 's representatives told me I needed to send a fax requesting the contact information and that a prompt response would be sent back to me. None was ever sent in response to my fax. Each time I telephoned to ascertain why the contact information had not been sent, I was informed it would be sent to my XXXX address the lender has on file for me. None has been received. I feel we have not been fairly treated, despite our best efforts to fulfill the short sale requirements. We have a buyer who is still interested in buying the property, the sale price is within the range of the market value, as confirmed by the comparable sales provided to the lender, and the buyer is also assuming the payment of the {$33000.00} in condominium maintenance fees and the {$15000.00} cost of the repairs needed by the unit.
XXXX FL XXXX Telephone : XXXX
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| 04/30/2017 |
Yes |
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- Struggling to pay mortgage
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Web |
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I am filing a complaint against the servicer of my FHA mortgage loan Penny Mac. I believe that Penny Mac has not properly handled my loan and denied me access to distressed homeowner programs that may be able to help me. Due to their mishandling of my loan I am now facing a foreclosure sale date of XXXX/XXXX/XXXX. You see, I had been in active review for loan modification with XXXX XXXX XXXX and was in the underwriting phase of the review when my loan was sold to Penny Mac. I was informed that Penny Mac would pick up where XXXX XXXX XXXX had left off and complete the review. However, this was not the case. Since that time I have been in limbo as I attempt to make progress with Penny Mac in order to save my home. I have an FHA mortgage loan which is insured by the government and backed by HUD. I have been told that Penny Mac is required to complete a review for all available programs when dealing with a borrower with an FHA loan, but this has not happened. I had a good job working as an XXXX for the last 15 years until I XXXX XXXX XXXX XXXX XXXX. Due to complications from this accident I have been unable to go back to work. This caused me to fall delinquent on my mortgage payment. I reached out to XXXX XXXX XXXX ( who held the loan at that time in XX/XX/XXXX ) in order to initiate a review. After many months of exchanging paperwork they finally put me into review for assistance options. My review had progressed to underwriting when the loan was sold to Penny Mac. I have tried repeatedly to engage with Penny Mac in order to get an active review moving. However, Penny Mac has continually transferred me from department to departmenthas changed my point of contact 4 or 5 times in a matter of a few months and has never actually reviewed my current financial information in order to determine what options are available to resolve this matter and instead set a sale date. While awaiting my XXXX hearing I have brought in a renter and my XXXX daughters that live with me are contributing as well to help make ends meet. I believe that if Penny Mac were to actually review my current situation they would realize that this is a true and legitimate hardship and that I qualify for assistance. I know that FHA loans have options such as loan modification, forbearance agreement, partial claim, repayment plan or restructured loan. I also know that there are government programs for people who are temporarily unemployed or out of work awaiting unemployment awards or disability awards. My question is why hasnt Penny Mac opened a review for any of these programs???? I am asking for the opportunity to resolve this issue with Penny Mac. I have owned my house for 20 years and always paid on time until I was XXXX. Once I begin to receive my XXXX XXXX I will have no problem making my loan paymentsI just need to address the missed payments and the current situation with the lower income. I believe that Penny Mac is not doing the things they are supposed to do to help me, and wanted to file this complaint against them
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| 02/20/2019 |
Yes |
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- Struggling to pay mortgage
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Web |
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In XX/XX/XXXX, I began to have repeated financial setbacks. At that time my mortgage was serviced under XXXX XXXX. I was making payments but they were not always full payments. In XXXX, I sent two part payments {$500.00} and {$1000.00} to XXXX XXXX. Both were returned. In XXXX, XXXX sold my loan to PennyMac. Payments to PennyMac were to begin XX/XX/XXXX. I set up my online account but was never allowed to make online payments in XXXX.
Part of my financial struggle in the early part of XXXX was from overdraft bank fees. In XX/XX/XXXX, I started using XXXX ( XXXX ) XXXX as they do not have NSFs. This is an online back and has restrictions on what can be done. One of those restrictions is that there is not a bill pay option. This means I either have to process a payment through the vendor or will be sent from XXXX as a hard check. Since PennyMac would not allow me to make online payments, I had to use the hard check method.
On XX/XX/XXXX, I contacted PennyMac with a two fold purpose. 1 ) to have my mortgage payment corrected. XXXX was ALWAYS over charging me and it was a fight with them every year to stop over charging me. PennyMac did not calculate my true mortgage but instead is charging me the {$1900.00} that XXXX miscalculated. 2 ) I also asked to have the balance needed to bring my loan current sent to me on the foreclosure prevention paperwork necessary to submit it to my 401K company.
On XX/XX/XXXX, I did not receive the paperwork from PennyMac, but instead I received notification of the foreclosure process on my home. I immediately called PennyMac. I had the information faxed to me which was dated XX/XX/XXXX with three payment figures listed. One for 24, one for 72 hours and one for 14 days. I sent the paperwork to my 401K company who assured me that the payment amount due was the 1st one listed. So that is the amount that was processed.
Now for the banking issues. XXXX allows for a max of {$10000.00} in checks per month. And the most that can be sent at one time is {$5000.00}. They do not do bank wires and if I were to transfer the money to another account, that bank was going to hold it for XXXX to 5 business days. I sent 3 payments to PennyMac in XX/XX/XXXX, {$1000.00}, {$5000.00} and {$3400.00} which were my limits per the banks guidelines. I then sent two payments on XX/XX/XXXX as the limits reset for the month. Those were for {$2500.00} and {$4000.00}.
I also sent and a second request to have my payment re-evaluated. I received notification that my request was received but nothing further. Upon logging into my account today, I noticed that the {$4000.00} check had not been applied to my account however foreclosure fees and a late fee had been. When I contacted my bank, I was informed that the check had been returned. The only good thing that came out of logging into my account was that I could make a payment online. So today I made a payment for {$1900.00} for XXXX and I set up a payment for {$1900.00} plus {$130.00} of the {$330.00} late fee for XXXX to come out next week.
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| 08/10/2021 |
Yes |
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Web |
Servicemember |
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This is the letter I sent after my loan closed : First, this process started out terribly with my original communication with my Loan Processor XXXX XXXX, the first time we talked her communication was XXXX, bordering on XXXX, and she asked me for documentation of several items without clearly explaining how I was supposed to get them. Then she was rude and frustrated with me when I asked for clarification. At this point it should have been a red flag for me and I should have just looked for a different lender.
Second, along with the previous communication from XXXX, I received several phone calls from her with an " update status '' where all she had to tell me was that she had nothing to tell me. To me as a consumer of your product that feels like no work was being completed on this project. Not only was this not helpful but it was extremely aggravating.
Third, I understand the appraisal took a long time, but every time I asked for information on the appraiser, I was given nothing. Finally, a week and a half ago I was given knowledge that the appraisal isn't even ordered by you, it is ordered by the VA regional home loan office in XXXX. Of course, I wasn't given any contact information for them, so I looked them up myself and called them to get the process expedited. To me this is unacceptable and is something your team should have been doing all along.
Fourth, as I was working with your team and started getting upset with this process, I requested to not be contacted by XXXX anymore ( this was completely ignored ) and I asked for assistance from your management team to finish this process up. I was contacted by XXXX XXXX, who said she would help facilitate and expedite this process. She did help to get the ball rolling, but as my communications progressed with her the return calls became non-existent. The last conversation I had with XXXX, she told me that a loan this small was normally a big deal but had basically insinuated that I had made it a big deal. I can't tell you how frustrating that statement came across. I know that {$500000.00} isn't a big # in the grand scheme of things for XXXX as a whole, but that definitely made me feel like being a valued customer who hasn't missed a single payment in years meant nothing to your team or company. Not to mention that borrowing any sum of funds in this amount for most American families is a life time event.
Because this process took so long, I have had to rent back my current house for 8 days, however I still will be homeless for three days starting Wednesday of this week, to me this is unacceptable as this process was started over a month and a half ago. I feel that XXXX should help out with providing credits for a few months of payments, or some other benefit to help me and my family out after this long and painful process. At this point I will not be recommending anyone I know to use XXXX. I thought about sending this email to the VA regional home loan office as well but I will hold off until I hear a response back from you.
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| 06/06/2015 |
Yes |
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- Application, originator, mortgage broker
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Web |
Older American |
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This has been an ongoing problem of lenders/servicers in our purported loan. Starting with XXXX and now moving onto PennyMac. There has been fraud in the inducement and continues in fraud as it progresses. Your XXXX never informed us that our 'loan ' was actually meant to be a security. XXXX XXXX was never registered to file securities ( see attached letters from SEC ).
We have no agreement with PennyMac and they have fraudulently procured our property through fraud. PennyMac has violate the National Mortgage Settlement Agreement and their own agreement with the FDIC.
There is no way for a homeowner to negotiate when servicers/lenders are allowed to use fraud to steal our property and cut off the true holder in due course.
Attached is a fraudulent assignment of deed of trust. I have marked it to show the fraudulent areas of the Assignment. 1 ) XXXX XXXX has not now or ever worked for XXXX or XXXX XXXX. a ) XXXX XXXX has been inoperable since XXXX b ) PennyMac did not open for business until XXXX, c ) XXXX did not have an agent for service or business license in CA until XXXX/XXXX/XXXX. Consequently, there could have been no LEGAL assignment in XXXX. 2 ) XXXX XXXX was under investigation for misuse of her notary since XXXX, a ) XXXX XXXX has since been convicted as per the attached court docket. b ) XXXX XXXX and XXXX XXXX have signed numerous documents under various titles, once again showing a pattern of moral turpitude by the servicers. 3 ) XXXX had the final dissolution of their LLC on XXXX/XXXX/XXXX, as per the official letter from the Georgia Secretary of State, attached herewith. XXXX was not an operating corporation in the state of CAlifornia until XXXX/XXXX/XXXX, and therefore can not be a party to our transaction. 4 ) We were never served a notice of acceleration by the lender, or the trustee. PennyMac used these fraudulent documents as a form of extortion rather than genuinely trying to work with us. We believe they did this because they did not have the entitlement to enforce the agreement and desired to bury this evidence in order to procure our home at no cost to their agency, and to cover their fraudulent activity from investors and the government. 5 ) The Trustee was never legally replaced by either the Trustee or the Lender. 6 ) PennyMac used this fraudulent Assignment of Deed of Trust to foreclose on a property they had no legal right to. a ) They illegally created a Trustee 's Deed Upon Sale, one day after the release from stay in the bankruptcy court, thereby violating the Homeowners Bill of Rights ( among numerous other rights ). 7 ) PennyMac has been evasive and untruthful with regulating authorities regarding our complaints and have tried to depict us as deadbeats thereby evading questions regarding their authority. 8 ) In spite of XXXX requests PennyMac has never provided us with a legal QWR, PennyMac has no record of our past payments on this loan, nor do they have a record of our payments toward the principle, because they do not legally possess this right.
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| 10/07/2019 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
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- Problem with a credit reporting company's investigation into an existing problem
- Problem with personal statement of dispute
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Web |
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My family and I lost our house in hurricane Irma on XX/XX/XXXX. We immediately contacted our mortgage company - PennyMac to let them know what happened and we had a company begin repairs on our house. We entered into a disaster forbearance plan with PennyMac which allowed us to put our mortgage on hold for 1 full year. We were told at the end of the forbearance we would pick back up on our normal payments of {$1200.00}. We spoke with penny Mac several times over the course of the year and kept them informed of everything going on. The company we hired to fix our house took a large amount of money and after doing the initial demo they never returned to do the work. We had to hire a lawyer to help us and it took over a year to reach a settlement with our insurance company. After the forbearance period was up we contacted pennymac to tell them we were ready to start paying our mortgage again despite our house not being liveable we did not want to risk a foreclosure so we wanted to pay our mortgage however once we told them our house was not currently being fixed because the construction abandoned property and we now had a lawyer helping us resolve our situation they told us we no longer qualified for the forbearance and we now owed the full year of mortgage of {$15000.00}. They would not let us set up a repayment plan and when we told them we could not afford that in a lump sum and that we were told on several occasions they would work with us on a repayment plan they were now starting the foreclosure process on us. Over the course of the next several months we tried to sell our house but because the house was severely damaged we would have to sell it well under what we owed and we did not have any money at the time to pay off our mortgage so we had to wait until our settlement was finalized. We finally sold our house on XX/XX/XXXX and paid every cent we owed back to penny Mac including additional fees they added on which totaled around {$15000.00}.
After 2 years of being homeless we finally had the means to buy a house again. This is when we quickly learned from a mortgage broker that our credit score was so bad we could not get a loan. Penny Mac had reported us late on our mortgage for 7 months after they refused to work with us on a repayment plan on our destroyed unlivable house. We have filed several complaints with them and tried to fight the late marks they put on our account but they refuse to work with us. We never would have entered into a forbearance plan if we knew they were no longer going to honor the terms and it would lead us down the road of destroying our credit. We have asked for upper management to look into this for us but they refuse to get back to us. The supervisors we worked with to resolve this issue to no avail was XXXX XXXX and her boss XXXX. We are asking for penny Mac to please remove the late marks on our credit. We paid on our mortgage on time every month and has excellent credit up until the hurricane destroyed our lives.
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| 06/21/2023 |
Yes |
- Mortgage
- Other type of mortgage
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Web |
Older American, Servicemember |
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XXXX. On XX/XX/XXXX, I applied for a Refinance Cash-Out Loan with XXXX XXXX XXXX XXXX XXXX XXXX ). The process went smoothly until on or about mid XXXX when we were getting ready to close. XXXX XXXX and XXXX XXXX of XXXX Mortgage Department informed me that there was a problem with my Title, but that they ( XXXX Mortgage ) were working to get it fixed.
XXXX. I was asked by XXXX XXXX XXXX XXXX who my Title Company was and I told her XXXX XXXX. I then reached out to XXXX XXXX to inquire whether they knew what was going on with my Title and they told me they were working on it and to not worry.
XXXX. As days turned into weeks, XXXX routinely, when I would require an update, informed me that XXXX XXXX was working the issue and problem. I began to get worried and upset thinking that XXXX XXXX was the problem because all that they would tell me was that they were working on it. I then considered consulting with an Attorney as I thought that adverse " things '' were or had been done with my Title.
XXXX. On XX/XX/XXXX, I gave a mandate and order to XXXX XXXX to explain exactly what was going on, but only after I reached out to XXXX XXXX XXXX XXXX who explained to me what might be going on and what the problem could be. They also told me that they would reach out to XXXX XXXX ( XXXX XXXX ).
XXXX. Today, XX/XX/XXXX XXXX XXXX of XXXX XXXX informed me of this : " XXXX XXXX, I am CCing XXXX XXXX with Pennymac in this email. As I explained the process to you on Friday, Nothing is wrong with your title. The former lender for XXXX XXXX released and satisfied the Mortgage when you purchased your home in XXXX XXXX XXXX, but did not release the liens on the XXXX XXXX Titles. I have been in contact with them via email. I took all the normal paperwork ( along with satisfactions as proof of payoff ) to the DMV to have the XXXX XXXX titles released right after closing. However, the DMV cant release the liens due to them being Electronic Titles with Electronic liens. That can only be done in-house by the Lender.
XXXX XXXX sold to Pennymac which gave them permission to satisfy the Mortgage and release the XXXX XXXX Titles. I emailed all the same paperwork to them that I took to the DMV. Pennymac is telling me that the case is in the litigation department and not sure how long it will take to resolve the issue. I assure you that we are working on this issue. We want to make sure our customers are taken care of. We are at their mercy. As soon as XXXX XXXX informs me of any progress I will call or email you ASAP. I ran a DMV webcheck update today and the liens are still not released. Still showing XXXX XXXX as lien holder of record.
Thank you, XXXX XXXX '' So ... Pennymac Mortgage is the culprit. THEY have been holding my Title in their litigation department thus holding up my loan process, being slow and " snail paced '' in clearing and executing properly my Title, and preventing transfer of my title to XXXX so myself and XXXX can move forward to closing.
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| 02/26/2023 |
Yes |
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- Incorrect information on your report
- Account information incorrect
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Web |
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XX/XX/XXXX - requested and entered into forbearance, lasting from XX/XX/XXXX to XX/XX/XXXX.
XX/XX/XXXX - applied for funding from NCHAF ( COVID-19 relief ) to take care of past due payments, fee 's, etc., that were missed during the forbearance period.
XX/XX/XXXX - forbearance period ended.
XX/XX/XXXX - finally contacted Servicer by phone regarding balance discrepancy on all three credit reporting agencies ( XXXX, XXXX XXXX XXXX ). Servicer confirmed the balance of {$340000.00}. XXXX as it reveals on their website, but conflicts with the balance on the three credit reports. Spoke and requested letter from Servicer Supervisor XXXX, said he will email it and send a copy to my home address, but he never followed through.
XX/XX/XXXX - generated and sent out a " Notice of Error '' correspondence, along with supporting documents to the Servicer expressing my phone call placed on XX/XX/XXXX with XXXX XXXX. I stated the issue at hand ( discrepancy with the reported balance on all three credit bureaus ) are in contrast with what's on their online platform.
XX/XX/XXXX - I received an " Acknowledgment '' email @ XXXX XXXX from the Servicer. PDF attached : letter informing me that they received my written request.
XX/XX/XXXX - I received an envelope in the mail, date stamped XX/XX/XXXX, with a letter dated XX/XX/XXXX from the Servicer, stating that they're responding to my correspondence received on XX/XX/XXXX. I didn't send in a correspondence on XX/XX/XXXX. As mentioned in my XX/XX/XXXX correspondence that I sent out FIrst Class Mail, I called them. Due to their lack of communication and integrity, it was then that I decided to reach out to them in writing, with a 10 day response and solution to the problem. I've contacted Pennymac several times by phone regarding this matter and they continue to go around the issue at hand. The correspondence sent by the Servicer only include a " Verification of Mortgage '' document regarding my account. As for the solution of correcting the balance that's being reported to the three credit bureaus, they totally ignored the intention of the " Notice of Error '' that was sent to them. Not once did they mention anything regarding the error in their letter, instead a " Verification of Mortgage? document was suffice for the correction that needed to be made.
Pennymac refuses to do the right thing. The only way that you can contact them is by phone or in writing. Their customer service over the phone is far from professionalism. Uploading documents through their message center is the worst. They have no way of tracking what you send them, but they heavily utilize the email platform to contact their customers. I've included supporting documents to hopefully remedy the situation. I'm being treated unethically and discriminated against, causing me great anxiety. This situation went from trying to get assistance during these unprecedented times to a full-blown nightmare. Please refer to the attached. Thank you!!
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| 08/08/2023 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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Annually since closing on our mortgage and having it sold to XXXX XXXX XXXX in XXXX, XXXX, they have failed to pay my property tax on time out of our escrow account. I always upload the property tax bill ( despite being assured by the town that both XXXX and myself receive a copy ) and then I always receive a delinquent notice from the town of XXXX, Maine, and have to call XXXX and prompt them to make the payment. They annually have to send me a " Taxes Paid After Due Date '' notice where they tell me the bill was paid and the late fees were covered.
In XXXX I told them I was happy to work together, but that we were going to find the root cause of this so that it does not happen every year. I confirmed the contact info and payment methods from XXXX, Maine, and I also provided the town of XXXX with the full contact information from XXXX. They told me the issue was resolved and once again they sent me a " Taxes Paid After Due Date '' notice.
Then on XXXX first we picked up a certified letter from the town saying that my XXXX Property taxes were never paid and that we have three weeks to make the payment or a lien is going against our home. We spent hours in the town office trying to talk to XXXX, who first claimed they wired the payment ( to where? ) and then claimed right after that a check had been mailed, despite all the money sitting in my escrow account still and the town never receiving the check. The address to send the check to was confirmed over the phone, and the call center rep said he was not authorized to send checks but that he would forward the case to someone who could within 2 days.
The following Friday XXXX called and told me the issue was fully resolved, and the XXXX and XXXX taxes were paid. I asked them to clarify what they meant by paid, and through what method, and after some stumbling and circular questions they told me that a check had been sent by certified mail and was confirmed delivered ( Mind you, the XXXX town office isn't open on XXXX... ) So Tuesday ( XXXX, today, ) when the town office was open again, I called to see if the check was there, and it was not.
At best, XXXX is definitely guilty of serious negligence and carelessness. I should mention that every past notice of Taxes Paid After Due Date from before XXXX is magically no longer in the message center on my account. This time I have printed this year 's statements and I have the past years ' email notifications of when the statements were uploaded to my account as proof that they used to be there.
I am left feeling like I have two weeks to pay my property tax out of my pocket despite a full balance of money I responsibly paid sitting in my escrow account. Some serious transparency and process review is needed. I'm certain this broken system has left others who are not healthy enough, educated enough, or privileged enough to fight for themselves with permanently damaged credit scores, if out being outright unhoused. Thank you for your review.
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| 11/01/2020 |
Yes |
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- Trouble during payment process
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Web |
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On XX/XX/XXXX I contacted PennyMac via their Message Center with my concern that the XXXX for XXXX was incorrect. The document indicated the real estate taxes paid were {$950.00}. I requested a full analysis of the taxes paid and what was reported to the Internal Revenue Service.
Within a few hours, I received a response from a PennyMac representative. The representative addressed me by my first name. I was somewhat surprised by the assumed familiarity. In most cases, if I am participating in a conversation ( spoken or written ) with someone and they address me as Mr. XXXX, I am more than likely to say " please, call me XXXX. '' But in this instance, the representative felt comfortable enough to call me by my first name. To me, this is inappropriate and it is not acceptable to me.
The representative went on to say that you all are not required to report to the Internal Revenue Service any amounts deemed " special assessments. '' In XXXX, these are sometimes referred to as the MUD tax or Municipal Use District tax. This particular tax is used to pay for the bonds issued to finance projects to maintain and operate the district. This includes the infrastructure for water, sewage and drainage. Although your representative indicated these monies are also used to cover the cost of trash collection and water usage. This actually is not the case in the City of XXXX. I pay a monthly fee to the City of XXXX for Water and sewage. Further, the City of XXXX does not charge residents for trash collection. The latter has been a constant topic of debate as the City grapples with challenges associated with being one of the largest metropolitan areas in the nation. Recently, the city began collection a monthly cart fee, approximately {$.00} per month to cover the cost of the trash carts.
I replied back and again questioned the amount that was reported to the IRS. My XXXX Property Tax Statement from the XXXX County Tax Assessor- Collector shows {$3400.00} was paid to XXXX XXXX as Tax Assessor-Collector. I reached out to PennyMac again on XX/XX/XXXX. As of the writing of this complaint, I have not been given the courtesy of a response. Unfortunately, what has been my past experience is that I've received substandard customer service from one or more representatives. I then file a complaint with the Consumer Financial Protection Bureau. Shortly after that I receive a call from someone who works in more or less an Executive Customer Service role and the matter is resolved. What I don't understand is why does it even have to go that far?
It has also been brought to my attention that I paid tax {$2500.00} in XXXX because PennyMax failed to collect the correct amount during XXXX and XXXX. This resulted in my mortgage being raised by a significant amount. It appears that money was then refunded to PennyMax. I believe that money should have been refunded to me.
Thank you for taking the time to review my concerns. I look forward to hearing from you soon.
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| 04/22/2018 |
Yes |
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
Servicemember |
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First and foremost, I understand interests rates change daily and increasing all the time, estimates are only estimates, and nothing is finalized until I am under contract with my rate locked in.
On XX/XX/XXXX, I applied for a mortgage through a lender. After I did so, I began receiving non-stop phone calls from multiple lenders that were notified that I applied. However, I did receive a phone call from my current loan holder PennyMac, leaving me a voice mail with a " competitive offer ''.
On XXXX XXXX, I contacted PennyMac and they stated I would receive a 3.99 % loan if I pay $ XXXX {$120.00} in points. I asked for a loan estimate, and they sent me a closing worksheet. Here is where they start misleading. The initial Closing cost worksheet left off the " prepaid interest, taxes, and insurance '' as well as the " estimated escrow reserves ''. The estimated it would be {$2700.00}. Once I sent this off to a friend to get guidance, I re-contacted my Loan Officer that same day to update the information. He updated the prepaids, but only put in 1 month of escrow knowing that it has to be a full year. Now my closing cost is {$3600.00}.
On XXXX XXXX, I went under contract with the house, and sent the contract to my loan officer. I also told him that the seller is only giving {$5000.00} towards closing, not the original {$6000.00}. I again asked for an official loan estimate, none given.
On XXXX XXXX, I asked again for a loan estimate, none given.
On XXXX XXXX, I asked for a loan estimate, none given.
On XXXX XXXX, five calendar days, and the fourth business day, I finally received my loan estimate at XXXX XXXX on the last day I had to submit to the seller before I defaulted, I received the loan estimate. This estimate had an interest rate of 4.125 % with {$460.00} in points ( .028 % ). Again, he only included 1 month of escrow and prepaids ( which will substantially increase my closing costs ). He did not change the sellers paid closing costs to {$5000.00}, which will also increase my closing costs. I also asked for a 90-day rate lock, which was not included. Once I contacted him with my concerns, he sent me a picture of the current interest rates at 4.125 %. I am now at {$3700.00} in closing + the year of escrow + the extra {$1000.00} in closing costs = about {$7000.00}.
On XXXX XXXX, I contacted PennyMac stating I am thinking about a buying a house, and inquiring about a new mortgage. I gave them the same terms, and they stated the interest rate would be 3.99 %.
1 ) PennyMac is intentionally giving false mortgage rates, and not disclosing points.
2 ) PennyMac is misleading the closing cost worksheet by leaving off items.
3 ) PennyMac violated federal law by not sending me my Loan Estimate within 3 business days.
4 ) PennyMac waited for the last possible moment to send my Loan Estimate, which could have caused me to default on the contract and lose the house.
My loan officer was XXXX XXXX ( XXXX # XXXX )
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| 04/20/2018 |
Yes |
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- Trouble during payment process
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Web |
Servicemember |
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Company addressed the issue? By doing what? smoke screening with bunch of pages of my payment history? And lies that MY COUNTY RECORDED RELEASE OF MORTGAGE on XX/XX/XXXX I asked for 2 things 1 ) Where is my escrow money 2 ) where is my release of mortgage paperwork.
XXXX dollar gift card? Company violated Kentucky Statue - 382.365 Release of lien, with notice to property owner, within thirty days of satisfaction -- Assignments of liens -- Proceeding against lienholder in District Court or Circuit Court -- Liability of lienholder when lien not released or notice not sent -- Notice to state or lienholder -- Damages.
( 1 ) A holder of a lien on real property, including a lien provided for in KRS 376.010, shall release the lien in the county clerk 's office where the lien is recorded within thirty ( 30 ) days from the date of satisfaction Release of mortgage paperwork was received on XX/XX/XXXX ( postmarked XX/XX/XXXX) it took them 55 ( days ) to release the mortgage with multiple complaints. And me spending time and my money to remind them by sending priority mail. They have received Demand letter on XX/XX/XXXX( tracking number XXXX ) and had 15 days to provide me with mortgage release paperwork. Their timeline expired onXX/XX/XXXX. By Kentucky Statue I'm entitled for XXXX dollars per day after 15 days of waiting period. Its not my fault that XXXX XXXX taking her time to answer complaints and taking almost two weeks to mail overnight check ( we had a conversation onXX/XX/XXXXat XXXX XXXX CST and she told me that my check will be mailed overnight and she will check on me the next day ) I haven't heard from her since then. Check was delivered this week. almost 2 weeks later. XXXX XXXX lied to me in the letter she send in response to my first complaint saying that Release of Mortgage was RECORDED BY COUNTY CLERK on XX/XX/XXXX. She change her tone after I told her during out conversation that i personally went to County Clerks office onXX/XX/XXXXand there were only two records on my name - Deed and Mortgage record, no mortgage release. it took them 55 days for paperwork that required by law to be done in 30 with the receipt to the homeowner.
What Pennymac does to customers who are late with payments? Charge them late fees.
Who is responsibility to pay on time Customer or Postal service or third parties?
You are not exempt from the law you have to follow the law including the state law you are doing business with. State of Kentucky Regulations specifically outlined that you HAVE 30 DAYS from the day Person paid of his mortgage to provide the customer with the mortgage release paperwork. There is no excuse, you have been reminded multiple times via your customer service and complaints.
You own me by LAW XXXX dollars for 7 days ( including the day you received the letter ) plus the cost of the letter XXXX dollars I would like to get XXXX dollars of damage you are responsible for according to Kentucky Statue - 382.365.
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| 09/09/2020 |
Yes |
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- Trouble during payment process
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Web |
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On XX/XX/2020, I made a payment on the Penny Mac mobile app to satisfy my XXXX mortgage payment.
On Friday XX/XX/XXXX a received a notification from my bank that there were insufficient funds in my account to cover this payment, payment failed, bank fees applied.
On Sunday, XX/XX/XXXX I deposited the funds to cover my montage payment into my account and then proceeded to make another payment via the Penny Mac mobile app to satisfy my XXXX mortgage payment On Monday, XX/XX/XXXX, Penny Mac processed a retry payment and charged my account, thus satisfying my XXXX mortgage payment.
On Tuesday, XX/XX/XXXX I received another failed payment attempt notification. The payment I made on Sunday XX/XX/XXXX was considered my XXXX payment, which I was not trying to pay. I was only trying to satisfy the XXXX payment, without knowing that I did not have to do this, but Penny Mac was going to automatically retry the collection of the payment. Which they did on XX/XX/XXXX and satisfied my XXXX payment.
I called Penny Mac and explained the situation. I explained that I was not trying to make the XXXX payment yet and to please stop trying to collect XXXX payment. In fact my account had a negative balance as a result. The representative assured me that the payment collection attempt would be reversed and canceled.
The next day, the payment attempt was reversed and my account no longer shows a negative balance. Great, however when I logged into my Penny Mac account it showed that they gave me two refunds and thus showed my XXXX payment as not paid. I have bank statements showing that they took my XXXX payment and I was never refunded it. They told me to call my bank because they may be holding the funds. I called XXXX XXXX and there was nothing pending. Penny Mac only reversed the last payment retry attempt but did not issue me to refunds. Now, they do not have almost {$1400.00} accounted for and its been two weeks dealing with this has no answers for me. They just stole {$1400.00} dollars from me. I did apply for forbearance due to these difficult times, to relive some stress off of me and my family, this only exasberated the stress. I have spoken to several supervisors and they are insisting that the money was refunded. It was not! One small mistake I made on my end but still paid my mortgage and they don't have the capability to track this, it is absurd. Please, please help me. No one calls me back, they say they are going to transfer me to a supervisors voicemail but it only rings and disconnects. I want to apply partial payment for XXXX while i am in forbearance to minimize the balance when the grace period ends, but I need them to update my account with the proper information and account for my money!!
I have my XXXX bank statements attached to show the evidence that they withdrew from my account but never refunded me my XXXX payment. Also screen shots of the Penny Mac app showing two refunds and an unpaid XXXX payment.
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| 11/29/2021 |
Yes |
- Mortgage
- Conventional home mortgage
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
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We had a refinance closing with XXXX scheduled for XX/XX/XXXX. The person from the title company came to our house to do it and we thought everything went fine. About XXXX weeks later, we got a call stating " the date on the settlement documents was incorrectly typed for the XXXX, not the XXXX ''. Therefore we needed to do a closing for a second time. We had it scheduled for around XX/XX/XXXX. No one showed up or called. We scheduled a XXXX attempt for XX/XX/XXXX. This time, we closed and everything seemed fine. I set all the paperwork aside after the closing and didn't look at it again until I was filing it away about a month or XXXX later. That's when I noticed that the monthly payment was the same amount from the first settlement on XX/XX/XXXX and the final settlement on XX/XX/XXXX. Here 's my concern... I made XXXX bi-weekly payments between the XXXX closing dates totalling {$2800.00}. How could my monthly payments be identical if I paid that much extra? I did receive an " escrow surplus refund '' check in the amount of {$930.00} ( still not cashed ) dated XX/XX/XXXX. The remaining XXXX payments were applied to the loan that was being refinanced ( also a XXXX loan ). The total loan payoff amount as of XX/XX/XXXX was {$180000.00} and as of XX/XX/XXXX was {$180000.00}. I also paid more in closing costs the final time. My points went up from 2.046 % on XX/XX/XXXX to 2.59 % on XX/XX/XXXX. This caused my total closing cost to go from {$11000.00} on XX/XX/XXXX to {$13000.00} on XX/XX/XXXX. An increase of {$1800.00}. Why was I penalized because XXXX had a date mix-up? I tried handling all of this directly with XXXX. I have logged over XXXX hours of calls and an email or XXXX, all to no avail. I am currently waiting for a call back that should have occurred over XXXX weeks ago. No one ever calls back. I always have to call them and start my story all over again each time I call. I initially emailed XXXX on XX/XX/XXXX who told me I had to call the loan department. They referred me to Loan Servicing. They referred me to senior representatives and then to the Retail Department. I didn't start tracking dates, times and names initially. But after my XXXX or XXXX call, this is what I have... I spoke with XXXX and XXXX on XX/XX/XXXX or XX/XX/XXXX, XXXX on XXXX, XXXX on XXXX, XXXX on XXXX and XXXX XXXX XXXX XX/XX/XXXX. After speaking with XXXX for over an hour, he told me he had typed/written down our entire discussion so that he could pass the issues along to the proper individuals and they would contact me " by the end of the week ''. That was on XX/XX/XXXX and as of today, XX/XX/XXXX, I have yet to receive any form of communication from XXXX. Any assistance would be greatly appreciated as I am at witts end trying to get a legitimate response. Here are some of the phone numbers I managed to aquire...
Loan Department XXXX Loan Servicing XXXX Retail Department XXXX XXXX XXXX ext XXXX XXXX XXXX XXXX Thanks in advance, XXXX
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| 06/09/2023 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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XXXX. I have tried with the company Pennymac to resolve this Issue - no response XXXX. I have tried with XXXX- they said company would response, but no response XXXX. I wrote to Pennymac CEO- No response Brief Description of the Case I am a Pennymac borrower with a fixed interest rate since XXXX, XXXX. I pay my mortgages on or before the due date all the time and never late in my payment. This year the company, Pennymac, had my Escrow Analysis in XXXX and found that I have Escrow shortage of {$2400.00} as shown in attachment XXXX. They gave me the option to pay all at a time or divide into monthly installments. I have paid all at once as shown in attachments 2 and 3. Therefor, my payment should remail as my XX/XX/XXXX XXXX. As attached, file name XX/XX/XXXX XXXX.
However, the company sent me my XXXX invoice much higher than my XXXX statement as attached, file name XX/XX/XXXX XXXX. I called the Pennymac on XX/XX/XXXX at around XXXX XXXX EST. Spoke to XXXX after a long wait. She does not have any clue what I was trying to explain to her. Then I asked for a supervisor named XXXX. XXXX repeats at least 20 times that my insurance and tax has increased so it is higher than my normal payment. I tried my best to explain that I have already paid the Escrow shortage of {$2400.00} so my payment should remain the same. Then he said Escrow analysis was not correct. I said OK, send me a correct Escrow analysis statement. He told me that he would send it right at that moment. However, I waited all day for the document, but XXXX did not send anything as of today.
XXXX also told me that, even if I pay all the shortfall, I still must pay higher installment. For the reason he could not answer, I believe that is wrong and improper business practice.
The company is providing conflicting information about Escrow. I understand Escrow changes, and they sent me their Escrow analysis report. I have fully paid for the short fall. However, now they are saying that they made a mistake and will send me a new Escrow report. This is where MISTRUST develops. Pennymac is a big company, and it is difficult to believe that their Escrow analysis is inaccurate.
They could not explain what they had done with the {$2400.00} Escrow only I paid them last month. I have serious doubt that they are mishandling my Escrow fund and could not manage it. I can not trust them to manage my Escrow.
In any case, I wanted to keep my original payment amount by paying the additional shortfall. But Pennymac said I still must pay a higher amount. I asked what is the reason? I am paying them in advance and the principal and interest are fixed. So, why I must pay extra. There was no answer from Pennymac.
I have reasons to believe that my Escrow funs are not properly handled and I can no longer trust them to manage my Escrow.
I will pay their principal and interest and I will manage my escrow and pay taxes and insurance.
Thank you XXXX XXXX
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| 12/22/2022 |
Yes |
- Mortgage
- Conventional home mortgage
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- Struggling to pay mortgage
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Web |
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In XXXX of 2022 I applied for mortgage assistance through my state program. On the program page it stated that it usually takes XXXX days for applications to be reviewed and approved. However because of IT issues and the difficulty to speak with a supervisor my application took over XXXX months but I didnt give up. Finally on XXXX XXXX I received an email from the South Carolina XXXX XXXX program stating that I had been approved. It listed some next steps and said that o should contact my mortgage servicer to let them know that I had been approved. On XX/XX/2022 I called Pennymac and asked if they had received payment yet. The lady who I speak with tells me that they havent received payment yet and that it takes them up to XXXX days to send the payment. She then tells me that I need to choose an option on how to pay the money back because my forbearance period is ending on XX/XX/XXXX. I tell her that I want to wait for them to pay and she tells me they money will come in after XXXX to XXXX days. She starts talking about my house going into foreclosure and she ask me can I make a payment today. I tell her no and she ask several more times. By the end of the call she had talked me into choosing how I wanted to repay the money back. I choose the option that allows me to put the missed payments at the end of my loan. The whole time I thought that the mortgage company would still be accepting the money from the state. I call back again on XX/XX/XXXX and XXXX told that at best the program will pay for my XXXX mortgage and some of XXXX as well but wont the XXXX missed payments. By this time XXXX upset because when I called on the XXXX the lady didnt say that by choosing and option I would forfeit the money awarded to me by the state of South Carolina XXXX Me and the representative talk for a while longer and I escalate my complaint to a supervisor. On XX/XX/XXXX a supervisor calls me back and says its nothing she can do and when I tell her about the conversation I had with XXXX of her colleagues she tells me I need to speak back with him. He calls me back later that day and when we talk I ask him what do I do about XXXX payment and he says dont pay it because were waiting from the money from the state and since we asked for XXXX payment well see if they will pay. He then advised me that the other money however would be returned to the state. I was very upset and asked to speak to a supervisor. The supervisor told me it wasnt anything he could do and basically told me it was my fault. He kept saying we know for a fact that you agreeed to the program details. He was not helpful at all and told me that not only would they be sending the check back to the state but that I had to pay XXXX mortgage payment. At no time did anyone from pennymac apologize or even try to fix the matter. I dont understand how me calling to check on if they had received the money turns into me losing the awarded money.
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| 10/02/2015 |
Yes |
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- Loan servicing, payments, escrow account
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Web |
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12 months ago I had to start paying my mortgage payment to PennyMac by Money Order because I had a payment to go past 30 days, this was there policy when this happened. In XXXX 2015 I noticed the payment that was made was not credited to the account, I had proof that the cashers check was received by PennyMac, who received it and what time. I spoke to a lady at PennyMac and they said they do n't have it, I had to fax the copy to PennyMac. When I talked to the lady at PennyMac ( XXXX ) she told me she had talked to my bank and the check had not been cashed by them. She said she would stay in touch with us and that it would not go against my credit and there would not be any late fees. I told her I was trying to refinance and did n't wont to hurt my credit. After 2 months I called PennyMac back because they had n't called me and I spoke to XXXX again, this was after I had left her 2 messages and she never called me back. I called because I noticed my credit score had dropped XXXX pts. When I spoke to her she said it was pretty much on me and I should have stopped payment, there was no conversation about stopping payment when I spoke to her the first time. My wife went to the back the next day to have them stop payment on the cashers check, the bank can only do it with a letter from the mortgage company with their letterhead stating why the cashers checked needs to be stopped. Since she did n't take care of what I asked about I asked to speak to her supervisor, XXXX XXXX got on the phone and pretty much said the same as XXXX. He did tell me they would put in a request to change the credit report and XXXX will call me back in a few days. She called me back on Friday of that week and told me she had tried to get a hold of my bank and had left messages and know had called her back. My wife talked to the bank and he had no calls or messages from XXXX at PennyMac, my bank had left her messages and know return calls. On Monday this week XXXX/XXXX/15 XXXX called me back and told me she had not talked to my bank and they were not able to send my bank a letter on their letterhead to stop payment on cashers check. She called me back on XXXX/XXXX/15 and left me a message and tried to call her back XXXX/XXXX/15 in the afternoon and left her a message and then called he back on XXXX/XXXX/15 and left another message. It 's XXXX Friday XXXX on XXXX/XXXX/15 and see have had know call back from XXXX. I talked to the bank and she still has had no conversation with them. The website shows all payments have been for XX/XX/XXXX and XX/XX/XXXX but no payment for XX/XX/XXXX, When I spoke to XXXX he said that payments were applied to XXXX and XXXX and no payment had been made for XXXX, they do n't know what 's been made. During the past 3 months I 've had 3-4 calls a week from an automated phone system, I 've received in the mail every week of ways to get your loan caught up or foreclosure or shot sale.
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| 01/10/2019 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
Servicemember |
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On XX/XX/XXXX PennyMac loan services purchased my 30-day old mortgage from XXXX XXXX that originated on XX/XX/XXXX. The original loan with XXXX XXXX came with all of the supporting documents including a Flood Certificate (Standard Flood Hazard Determination Form SFHDF, FEMA Form XXXX) indicating the insured property was in Flood Zone-X and NOT in a Special Flood Hazard Area.The day after PennyMac purchased my loan from XXXX, XX/XX/XXXX, they sent me a letter claiming that "they received a change in the Federal Emergency Management Agency (FEMA) map for my property" and that because of the “FEMA Map change”, my property was now in the Special Flood Hazard Area Flood Zone-A. As such they claimed that Flood Insurance was required immediately. PennyMac provided no proof of a FEMA map change and instead insisted on Flood Insurance coverage for the property which they claimed was now in a high-risk Flood Zone-A because of the map change. The letter claimed that they would force lender-placed flood insurance on my property if I did not provide Flood Insurance or a FEMA Letter of Map Amendment (LOMA) within 45 days.There were numerous calls to PennyMac during XX/XX/XXXX and XX/XX/XXXX (XX/XX/XXXX) asking for proof of a FEMA map change. The official FEMA website states that the map for my property (XXXX) was effective on XX/XX/XXXX and there have been no revisions since XX/XX/XXXX. PennyMac was never able to offer any proof of a FEMA map change for my property-because it does not exist. The XX/XX/XXXX PennyMac letter was pure fraud as the FEMA map had not been changed since XX/XX/XXXX. The lender forced flood insurance is very expensive and PennyMac offered no remedies other than providing a LOMA statement from FEMA. The LOMA process at FEMA is long, expensive, and complicated. I had to hire a surveyor and it cost me $XXXX for an elevation survey and supporting documents to obtain the LOMA. The LOMA was received from FEMA on XX/XX/XXXX, but PennyMac has refused to fully refund the $XXXX premium on flood insurance they forced in XX/XX/XXXX. The remaining flood insurance premium yet to be refunded is $XXXX.What is even worse, I was never billed for the forced flood insurance, instead PennyMac re-directed additional monthly principal loan payments I made to an escrow account they created which was not part of the original note terms. Further, they have changed/increased my monthly loan payment amount to cover future flood insurance premiums even though the flood insurance was cancelled on XX/XX/XXXX will never be needed. While I have made at least thirty calls to PennyMac over the last five months, my last call was to their corporate headquarters in an effort to remedy this issue. In XX/XX/XXXX I spoke to Ms. XXXX XXXX (XXXX X-XXXX) in their “Escalations Department” who claimed to be able to help but she never called back and has failed to return my numerous voicemail messages.
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| 04/27/2022 |
Yes |
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- Trouble during payment process
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Web |
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In XXXX, I lost a full-time job due to covid. I called my mortgage company to asked if there was any type of assistance, they could help me with. They explained to me about a forbearance plan. They stated the number of missed payments while on forbearance would go to the back of the loan. At the end of the forbearance, I was still not back to work at my second full-time job. I asked if I could get an extension, they advised I would not be able to get an extension, but they could do a modification with an interest rate of 3.0 making mortgage payments drop to {$1400.00} from {$1700.00}, I agreed. All paperwork was sent out in XX/XX/XXXX and was signed and notarized. I made my first payment of {$1400.00} in XXXX. When I went online to make my XXXX payment, it did not allow me to do. I called PennyMac and they advised the first modification was no good due to system error with escrow payments. They advised I would have to have a 3.2 interest rate with a mortgage payment of {$1500.00} having to make the difference to the XXXX payment and XXXX payment right now. At this time, I did not have any extra money and was in a process of a divorce. I advised PennyMac I did not have any additional funds. They stated if I did not agree to this new modification, I had to pay nineteen missed forbearance payments NOW which was around {$33000.00}. They said the only other thing they could offer me was to skip XXXX, XXXX and XXXX payment with a higher mortgage. I had to agree, I had no additional funds at this time. The second paperwork came in the mail, but this time it had my spouses name on the form for him to sign and get notarized, my husband was no longer in the home and would not agree to signing the paperwork. My husband was not on the mortgage only the deed and title. I was told he did not have to acknowledge the modification, because he was not on mortgage. The first modification that came out in XX/XX/XXXX my husband 's name was not on it. I called PennyMac almost every day trying to figure out what I could do. They pretty told me nothing. They advised if my husband didn't sign the documentation my account would go into foreclosure. I was able to get spouse to sign name of the deed and title in exchange for no spousal support. At this time my new modification went from a 3.0 % interest rate to a 3.75 interest rate. The first time I agreed for the modification was what I could afford, I felt like this was a setup to have me lose my home. This is no fault of mine that the escrow payments were not taking out correctly, now I'm left with a higher mortgage and higher interest rate, this is a struggle to pay. I had to agree to the second modification, but no paperwork was signed or notarized, I'm trying to see if there's an assistance program with mortgage and if PennyMac can change the terms on the loan after the first modification paperwork was finalized and payment was made.
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| 09/22/2015 |
Yes |
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- Loan servicing, payments, escrow account
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Web |
Older American |
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The mortgage lender, Pennymac Loan Services LLC, has not properly credited my account for my last payment and the company continues to send my mortgage statements very late. I sent a payment XX/XX/XXXX. The check cleared XX/XX/XXXX. It is now XXXX XXXX, 2015 and I have yet to receive a mortgage statement. Instead of receiving a complete mortgage statement that shows when and how my money was applied to my mortgage balance, I received a letter from the lender stating that the payment was received but that it does not bring my mortgage up to date.
I am aware that I am behind on my payments, but that does not exclude me from having the right to receive a monthly mortgage statement, on time and to know how my money has been credited to my mortgage account. Pennymac has repeatedly sent monthly statements extremely late. For example, I made a payment in XXXX 2015 that was applied on XXXX XXXX, 2015 and yet I did not receive a statement detailing the activity in the month of XXXX 2015 or XXXX 2015 until XXXX XXXX, 2015. According to the new regulations, mortgage companies are required to provide consumers with a monthly statement of the upcoming month due date no later than the end of the grace period of the previous month. With Pennymac this means that I am supposed to receive my statement for the money due XXXX XXXX, 2015 no later than XXXX XXXX, 2015. It is now XXXX XXXX, 2015 and I have not received a mortgage statement. Instead of receiving a detailed mortgage statement, Pennymac sent a letter stating that my money has been received and that I still owe money to become current on my mortgage. The letter that I received last week does not meet the requirements of an itemized statement. My electric company, my gas company, and my telephone company have no problem sending a statement by the end of their billing cycle on a regular date, every month. I do n't understand how Pennymac can not manage the simple task of mailing me a statement on time.
A way that Pennymac covers up how late they sent statement is that the envelopes in which the statements are sent are not postmarked. They have prepaid envelopes that are very difficult to track with the post office. I have often received statements 10 calendar days after the date written on the statement. The only envelopes that have dates are envelopes with notices to foreclose. For this reason, I will be filing a complaint every single month that I do n't receive my statement for the next month by the XXXX of the current month. I want a written record of the predatory measures this company practices in order to drive their customers to foreclosure.
Pennymac 's goal is to push me to fall behind on my payments, beyond the 120 day limit, so that they can sue for foreclosure and make a XXXX year old, XXXX, retired woman become a homeless woman. I will not allow this company to make me another of their victims.
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| 06/29/2015 |
Yes |
- Mortgage
- Conventional fixed mortgage
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- Loan modification,collection,foreclosure
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Web |
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We submitted an application for a loan modification to PennyMac. PennyMac denied the application via a letter dated XXXX XXXX, 2015. PennyMac failed to include in its denial letter the name of the investor and the NPV results. Pasted below is the excerpt from my letter to PennyMac.
PennyMac claims the XXXX following reasons that the application for a loan modification was denied as stated on Exhibit A of PennyMac 's XXXX XXXX, 2015, letter : Capitalized Loan to Value ( LTV ) Excessive Forbearance Housing Expense Ratio Outside of Acceptable Range Insufficient Net Cash FlowPennyMac has failed to provide the total capitalized unpaid principal balance, the value of subject property, the income and debts used in its calculations. These are all data inputs used in calculating NPV ( net present value ). See Home Affordable Modification Program, Base Net Present Value ( NPV ) Mode XXXX Model Documentation here : XXXX See pages XXXX that state the NPV model inputs - these inputs include unpaid principal balance before modification, property valuation, borrower 's total monthly obligations and monthly gross income. As PennyMac is claiming the reasons for denial include the LTV and the inability to come up with an acceptable modified payment and insufficient net cash flow then these values must be disclosed as PennyMac engaged in a net present value calculation.
As explained in the Comments to 12 C.F.R. 1024 ( d ), if a trial or permanent loan modification is denied because of a net present value calculation, then the denial notice must include all the inputs used in the net present value calculation. 12 C.F.R. 1024, Supp. I, 41 ( d ) cmt. 2. PennyMac 's XXXX XXXX, 2015, letter does not include any inputs it used in this calculation. This is exactly the kind of information called for by RESPA to enable borrowers to make an informed decision about whether they should appeal the servicer 's loss mitigation determination or pursue other options. PennyMac failed to provide it.
In its XXXX XXXX, 2015, letter PennyMac states " We may order an appraisal or other forms of valuations to determine the property 's value in the course of reviewing your application. If we do order any valuations in connection with the application in determining whether your loan qualifies for a loan modification, a copy of the valuation ( s ) will be enclosed with this notice, if applicable. '' Clearly the value of the subject was used in reviewing the application as one of the reasons for the denial is due to capitalized loan to value. The value in " loan to value '' is the valuation of the home yet PennyMac failed to enclose with its letter any valuations of the property. PennyMac representatives disclosed to me that PennyMac had a BPO completed on XXXX XXXX, 2015, that resulted in a value of {$69000.00}. Is that the value that PennyMac utilized in reviewing this application?
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| 07/15/2019 |
Yes |
- Mortgage
- Other type of mortgage
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
Older American |
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On or about XX/XX/2019 I contacted my mortgage company Pennymac regarding a cash-out refinance, due to an ad that had been placed in my monthly statement. I was put in contact with XXXX. XXXX, a loan officer with this company ( his NMLS # XXXX ) regarding the possibility of doing the refinance. We live in a condo in XXXX XXXX, CA and I was advised by this agent that our one bedroom unit was being appraised at {$210000.00}, and that in fact a unit identical to ours was just sold for {$220.00}. According to this advice I contacted Mr . XXXX on XX/XX/XXXX and told him that based on this information we would proceed with the application. He advised me that we would have to pay for the appraisal upfront, and that the appraisal I would have to obtain would be {$440.00}, although he had mentioned previously that he could attempt to obtain an appraisal for {$170.00}. That did not happen, and we proceeded to pay Pennymac for what I thought would be an appraisal that would allow us to proceed. Within two days an appraiser was here at our property, accompanied by a lady who was the photographer. After raving about our place he seemed more interested in discussing the problems with his teeth than checking any of the usual items an appraiser would to make sure were in good functional condition.But as soon as I told him I was a health insurance broker his conversation was centered around teeth and the work he needed to have done. His assistant took a lot of pictures, and they left. The next day to my consternation his appraisal did not even come close to what Mr . XXXX had suggested it should be. It came in even lower than what we paid for the property at {$190000.00}. thus killing any opportunity of doing the refinance. I believe this really was a very unfair way to treat a good customer of Pennymac who has always paid his mortgage payments right on time. I feel I was mislead by Mr . XXXX. In trying to contact the company regarding the {$440.00} they had taken from me just two days prior it was nearly impossible to connect to any person. After about two hours of asking for a supervisor or anybody who I could speak with I finally reached a gentleman who promised to contact the people in charge, but not never happened. I wrote Pennymac but they ignored my contact. So now I am submitting his complaint as I feel I was not told the truth, the appraiser they sent was deficient in his obligation of providing a fair appraisal of my property, and as a senior who has to work at age XXXX 6 days a week I have lost a significant amount of money for no good reason. I believe in all fairness I should have been contacted by Pennymac regarding my letter, and that all I heard from Mr . XXXX when I asked if there was any remedy was that he guessed the loan was a dead issue. I believe I have been treated unfairly in this situation and would like my money back. XXXX XXXX
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| 11/16/2021 |
Yes |
- Mortgage
- Conventional home mortgage
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
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I applied for a mortgage refinance with XXXX XXXX at PennyMac early XX/XX/2021 in order to secure a lower interest rate and monthly payments, of note my existing mortgage is already serviced by PennyMac, and I thought that would make it an easy process, but little did I know then.
I quickly got approved for a full 1 % lower interest rate after the house appraisal went through, then came the repeat and erratic requests for documents for income verification, solar panel agreement/ etc, followed by 3-4 week periods of no communication, and calling them for an update resulted in requests for the same documents that were already previously provided, then another long silence period, another call to check on the status resulted in the issue of a revised agreement with higher fees and closing costs ( 2 months after the first offer was already approved? ) I demanded that they respected the first agreement and revise down the fees and closing costs to the initial amounts, then radio silence for another 3 weeks, punctured by occasional status update calls from a lady who would scream on the phone, but those calls were that totally non informative, so I called to get more details, and was told that my case was closed per my own request, and they cited some unknown email address that was used to request the closing of my case I, of course, immediately demanded that the case be reopened since I never asked them to close it in the first place, I was also assured that this would be handled by a supervisorchecking the website, all my previously requested documentation was requested once again, by then we were already in XX/XX/2021, and by then the low interest rate I was offered initially was just not available from any lenders due to the rates creeping up, and I get a survey email asking me about my experience with PennyMacand that is when I call them for a status update, and get told that my application was denied for a high debt to income ratio I cant help but suspect that I was dragged into a lengthy refinance application just to be denied 4 months later when the low interest rates were no longer available, wasting any chance I could I could have refinanced with another company.
I also suspect that they intentionally declined this preventing me from obtaining a lower interest rate, which could have resulted in lower interest amounts collected by PennyMac over the life of my loan.
Useful communication was inexistent with my loan officer, XXXX XXXX, who came across as duplicitous, dishonest, and vindictive, deciding to deny me a refinance when I demanded they stick with the initial offer terms with lower fees and costs, just as the interest rates went up so much that I missed the chance for a decent refinance with another company.
My chance to refinance at a lower rate has been wasted by Pennymacs unscrupulous practices and blatant mismanagement.
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| 08/08/2022 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
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- Incorrect information on your report
- Account status incorrect
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Web |
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Thank you for the opportunity to explain the late payments and issues on my credit report.
In XX/XX/XXXX, after a lot of hardwork I was blessed to be able to purchase a home in XXXX XXXX, XXXX for my daughter.
From the time of purchase up to the beginning of COVID my daughter either paid her mortgage to me ( usually by transferring from her XXXX account to mine or by XXXX ). I would then pay the mortgage via XXXX XXXX. Within a month of COVID ; however, my daughter lost her job. After using the few months pay shed saved, the mortgage became my responsibility. Not just because the loan is in my name, but because as her Mom it was my responsibility.
Then, not to get too personal, in the midst of COVID ( XXXX ) and her job loss, I found out my then husband was having an affair with an XXXX driver after only 5 months of marriage ( cant make this up ) AND hed lost his job, leaving the mortgage on the home I shared with him as my responsibility, as well as, all household expenses for both houses.
So at this point, Im paying two mortgages, two car notes, utilities in two houses and credit cards for each of us on top of dealing with what ended up being the beginning of the end of my marriage.
I eventually separated from my husband in XX/XX/XXXX. My divorce was final in XX/XX/XXXX.
Prior to my life turning upside down ( XXXX ) Id accepted a position below my previous level of pay to reduce the stress in my life but, after trying to carry two households on that salary through XXXX and part of XXXX ( where most of the late payments occurred ) I was forced to take on multiple full-time jobs to support my family.
I am quite aware that the late payments are horribly reflection of creditworthiness, but I do want to point out that throughout all of the above episodes, I may have paid late many, many times, but my family remained in our homes, our cars were not repossessed, our utilities stayed on and there are no charge offs on either of our credit. I did this after speaking with all of my creditors, explaining the issue to them and letting them know I would try my best to keep paying all my bills.
ON TOP of all that XXXX XXXX XXXX XXXX and the XXXX XXXX Police notified me in XX/XX/XXXX that someone had come into the XXXX XXXX branch with fake id 's and my lost debit card attempting to withdraw money from my bank account. I live in XXXX. I have been working with the police in both XXXX and XXXX to try to get a small mountain of identity theft items resolved that I was not even aware of until they contacted me!
I have emailed each of them asking that they honor their word and remove late payments under the CARES Act to no avail. I need the help of CFPB. I am exhausted at this point. Had I know I'd get treated just like someone who didn't pay at all, I wouldn't have killed myself trying to not let anything fall behind.
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| 12/05/2016 |
Yes |
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- Loan servicing, payments, escrow account
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Web |
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My complaint is with PennyMac Loan Services. I am a XXXX veteran and also exempt from paying property taxes in my county and state. PennyMac advertises many loan services to veterans and their families. PennyMac is not veteran friendly in my experience in dealing with them. The problem I am having with PennyMac getting my property tax escrows refunded and my monthly escrow payments reduced to reflect the exemption. I was approved by my county for the exemption XXXX/XXXX/2016 and after speaking to PennyMac representative I was told to submit the exemption letter and a Demand letter for my property tax escrows to be returned to me, which I completed on XXXX/XXXX/2016. After submitting these documents I received a reply telling me that these documents are not sufficient and that they need a tax bill from the county. After going back and forth with PennyMac I sent in the tax bill showing that I had a zero tax bill and also I was receiving a tax refund from the county. The response from Penny Mac is that a Tax agent from their company was working on it and a representative would be in touch. After two weeks and of nothing I decided to give PennyMac a call. The representative on the phone was very helpful and basically told me that nothing had been done regarding my exemption and no tax research was completed. This representative also called the county and verified that i have a zero tax balance and I have been approved for the exemption. The representative also advised me that PennyMac sent a property tax payment to my county on XXXX/XXXX/2016. This was weeks after PennyMac received a tax bill that I sent to PennyMac showing a zero balance.The representative also told me that PennyMac would have to wait to receive the payment back from the county before they could refund it to me, which is their mistake for making the payment in the first place. Why did PennyMac pay a tax bill that I did n't have if they supposedly did a tax research and contacted my county.The reason is because they did n't do anything regarding my exemption. I dont understand why PennyMac does not want to release my escrow to me when by law they had 30 days to return my escrow after receiving the documentation that I had a zero tax bill. The other problem is as the months go forward without a resolution and I am still making property tax escrow payments to PennyMac because they have not adjusted my account. I also have email documentation showing the responses from PennyMac regarding this case. I am also trying to do a VA streamline refinance with XXXX XXXX to get as far as I can away from PennyMac. The state and federal government agencies have extended many benefits and exemptions to XXXX veterans and their families and I do n't understand how these banking institutions feel like they are above the law and take these benefits from them.
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| 02/15/2023 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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We believe there are funds that have been misappropriated and we have tried calling PennyMac several times to get it resolved. We are disputing the negative balance that they say we currently have in our escrow account. We had funds disbursed from our escrow account on XX/XX/XXXX for County Taxes and on XX/XX/XXXX for Miscellaneous Assessment ( MUD taxes ). We understand that these are our property taxes for XXXX, but then we were charged again on XX/XX/XXXX for Miscellaneous Assessment ( MUD taxes ) and on XX/XX/XXXX for County Taxes. These charges are for the XXXX taxes as well. We have basically been charged twice for our XXXX taxes. PennyMac failed to make our tax payments on time to our county and MUD because we received letters from them in early XXXX. We contacted PennyMac numerous times between XXXX and XXXX of XXXX to let them know that they did not pay the county/MUD taxes and it took until XXXX and XXXX of XXXX for them to pay it, and we had no idea that they were actually charging us twice instead of using the funds they pulled from our escrow in XXXX of XXXX.
We did not realize this misappropriation until we received an Escrow Analysis in XXXX of XXXX that we would be paying {$1300.00} more per month to make up the difference. When we recently called PennyMac concerning this, we were told that our taxes went up for XXXX and we owed more and thats why they took out more in XX/XX/XXXX and XX/XX/XXXX. However, when we looked on XXXX XXXX Countys website and the XXXX XXXX County MUD No. XXXX website they only charged us for the amounts PennyMac paid in XX/XX/XXXX and XX/XX/XXXX. From XXXX XXXX County 's perspective, there is NO RECORD of the amounts PennyMac took out of our escrow account in XXXX of XXXX. We have know idea where this money was distributed or why it was removed. Also, we don't understand why we are just now finding out about this.
After making several phone calls at the beginning of XXXX and getting zero help, on Monday, XX/XX/XXXX, we spoke with XXXX XXXX ( PennyMac ) who tried to help us, but told us that we were being charged more for our XXXX taxes, which we know now is not true from the receipts from our county and MUD. After speaking with a Tax Specialist at PennyMac, she was supposed to get back with us with an answer on this. She called once and we missed the call. We called back only to find out that the ticket had been closed on this complaint and they could not transfer us to XXXX.
Yesterday, XX/XX/XXXX, we sent PennyMac LLC a complaint letter and documentation of this issue via certified mail.
On their website, they claim that their commitment to their customers is to be accountable, reliable, and ethical and we feel as though they have failed us in all three of these categories.
We would love any help you could also provide us in resolving this issue.
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| 03/21/2022 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
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- Incorrect information on your report
- Account status incorrect
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Web |
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I recently in XX/XX/XXXX did a dispute with XXXX XXXX which also affected my XXXX report. The dispute was to show that I paid Penny Mac mortgage off because it was showing that the account was still open. I sold the home and paid the mortgage off in XX/XX/XXXX of XXXX. Prior to selling the home I was in chapter XXXX, which ended in XXXX due to I was all paid in full including my mortgage which I even made XXXX from the selling of the home so the home was not lost to any bankruptcy. The trustee was making the payments from XXXX to XXXX when the house was sold on time every month. Now that the bankruptcy is over its showing on my report that PennyMac did not report anything during the bankruptcy so each month its showing blank no reporting which is fine but at the bottom PennyMac is making a comments or somebody is putting comments in my account showing XXXX to 150 days delinquent. Within other parts of the credit report its showing no late payments. I have lost the ability to get a mortgage now in the middle of waiting to close on my new home because of this new statement on my credit report. I am losing all the money that I put down to hold the home all the money that I put into applying for the mortgage because PennyMac refuses to let them know that there is no 150 days delinquent or 120 days delinquent even though PennyMac did a conference call with factual data and told them there was no 120 days 150 days late now theyre turning around same because I did of voluntary dismissal of my chapter XXXX because I didnt need the chapter XXXX anymore because I was all paid in full with my mortgage that is a reason that theyre giving me for why theyre reporting it late or delinquent when they dont even have any reportings. I have my payments from PennyMac on the PennyMac website which I have printed showing payments made every month no payments were missed at 120 days or 160 days or 150 days or 30 days or 90 days or 60 days they were always paid. PennyMac is ruining my credit and Id like something done about it please. The only reason Im including freedom mortgage is because I try to get a new mortgage and the underwriter ran my credit the first time and everything was fine and then were moving on to getting closer to closing they ran my credit again and PennyMac and added the statement about 120 days delinquent as of XXXX when the account was already closed in XX/XX/XXXX they pulled my mortgage and I am losing all my money that I had invested in the house because PennyMac gave a verbal to factual data that I was not 120 days overdue on a conference call but then they said they wanted a letter and PennyMac is refusing to do it and now PennyMac is putting this on my credit pork with 150 days in XXXX and I was getting Hire instead of XXXX and nothing is working and Im losing everything I have because of them
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| 01/26/2021 |
Yes |
- Mortgage
- Other type of mortgage
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
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We started a re-finance of excising mortgage with Pennymac Loan, LLC, NMLS ID # XXXX ( XXXX ) at the end of XXXX. We comply with their entire request for documentations, income, and taxes, so on. They would not communicate with us for weeks, only after we questioned where they were in the process that the representative would tell us. Eventually an appraisal of our property was set for XX/XX/XXXX with XXXX XXXX XXXX XXXX out of XXXX MN. We pre-paid {$480.00} for the appraisal, including the credit background check {$26.00} handling fee {$3.00}. After we paid for the appraisal and the appeaser was at our home on XX/XX/XXXX, we did not get a copy as stated by law in a timely manner ( 3-4 days ) as per the Equal Credit Opportunity Act, or by Equal Housing Opportunity Act. It was not till I called them that an email was sent to us by Pennymac on XX/XX/XXXX. Pleasse notice that it was 15 days after the alotted time to send us a copy that Pennymac had sent an email to XXXX ( owner of home ) at his work ( business ) email. The email was to have had a link to open the supposed copy of the appraisal. This link was broken and did not work. I try to communicate this to the agent I had been working with to only find out he no longer worked with the company, and another person was to be asigned. So I, did not receive the appraisal copy that by law was to get. After several attempts to communicate by phone with Pennymac no copy was delivered. Eventually Pennymac would not communicate with me on a timely manner and the process with them to re-finance our home fell through by the end of XX/XX/XXXX.
I still have not received the copy of the appraisal as by law I was to get. Several more calls to Pennymac with no progress were done, two of them this XXXX, XXXX. Results were after explaining the reason of not receiving the appraisal, the representative was hostile towards me, and my call was disconnected. Each time I try calling back on XX/XX/XXXX and getting a different representative, I had to explain all over again the reason of my call once the representative heard me, I was told they did ot have to talk to me and I was disconnected. I even tried to communicate by email with the person that did the appraisal, his response was that he can release it to us with Pennymac approval, but he did not request this of Pennymac even after we suggested he should.
I believe Pennymac had violated the laws by failing to produce a copy of the paid appraisal on a timely manner. Even after we tryied to explain that we did not received one due to technica/ electronic problems, they did not US Postal Service us a copy. To date we do not know the results of the appraisal or the value of our home. I do believe the company tactics were to collect money for an appraisal and do nothing to refinance the home loan we applied for.
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| 04/11/2023 |
Yes |
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- Trouble during payment process
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Web |
Servicemember |
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I originated my XXXX with XXXX XXXX with no restrictions or requirements regarding the use of an XXXX account. I did choose to use XXXX when we closed in XXXX XXXX XXXX but i would not like to manage my home owners insurance and property tax payments my self.
XXXX XXXX purchased the mortgage and is no permitting me to cancel the escrow because of their policy of VA loans being in escrow for the first 24 months. This is a requirement that was not part of my closing documents and i never agreed to it.
I have called XXXX XXXX XXXX different times on this issue and been on hold for well over an hour waiting for responses when I have called. The first call the hold was so long I had to hang up, the second, I was on the phone for nearly XXXX hours and was first offered to have the limit changed to 1 year but declined. I have a high yield savings account that I will be using as my own escrow and want to start depositing right away. XXXX minutes later I was told they would send me documents to sign to cancel the escrow.
2 days later I got a letter in the mail stating that my request was denied, I called back to ask what happened and they just said its not their policy to allow that an did not even check to see if there were notes regarding the last conversation I had.
They are trying to impose a policy that changes closed contract for mortgage between my self and XXXX united that they purchased and I believe can not be enforced. I have expressed the same to XXXX XXXX in each of my calls and they agreed once but have since reneged.
The exact wording from my closing documents regarding keeping my escrow account states : " For now, your loan will have an escrow account ( also called an impound or trust account ) to pay the property costs listed below. Without an escrow account, you would pay them directly, possibly in XXXX or XXXX large payments a year. Your lender may be liable for penalties and interest for failing to make a payment.
In the future, Your property costs may change and, as a result, your escrow payment may change. You may be able to cancel your escrow account, but if you do, you must pay your property costs directly. If you fail to pay your property taxes, your state or local government may ( 1 ) impose fines and penalties or ( 2 ) place a tax lien on this property. If you fail to pay any of your property costs, your lender may ( 1 ) add the amounts to your loan balance, ( 2 ) add an escrow account to your loan, or ( XXXX ) require you to pay for property insurance that the lender buys on your behalf, which likely would cost more and provide fewer benefits than what you could buy on your own. '' The page of my closing documents this is from is attached to this complaint.
My taxes are paid, and I have just paid my home owners insurance in full when switching to XXXX.
|
| 09/05/2018 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
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|
Web |
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|
Today, I heard from PM, a man named XXXX, ruthless, no apology, etc and anything that is negative. He called to tell me only that my loan was not going to vacated and went on to bring up about XXXX ' payment, which I indicated that they should receive it tomorrow. During the call, I made it very clear that this war with them was not over. This has been happening for 10 years and my voice was far from flattering. These people are venomous, savages, unprofessional, no sympathy and the only service they offer is ... .BLOOD ON THEIR HANDS AND THEY SPEAK WITH FORK TONGUE ... HATE THEM ... ....
The last complaint is number XXXX, I received a response from Penny Mac, on Friday, with their same standard format, indicating they are researching the matter. Based on their past history, this is what will happen, I will receive another standard format in the next couple of days and this is what it will say ... Based on our enquiry we found no evidence that we have done anything wrong. I sent you the copy of their statement and this is what they do to me twice a year. This is been a problematic and chronic. So, in other words it is okay with them to continue their wrath. You can review my previous complaints outlining the same issues. There will never be any enquiries, whatsoever. It is only a standard format, in order for them to follow the protocal, for the government. They have an overturn of employees.
I have pasted one of the links against PM, for your review. This is not a handful of complaints against them. The list is endless. Consumers have posted blogs and it is viral. I contacted a couple of law firms in XXXX XXXX and had spoken with them and each indicated without commenting on the litigation, if there were any class action against Penny Mac and guess what, there are and it is Penny Mac 's employees, who are the litigants. So, I asked, if they were whistle blowers and they replied, reluctantly, yes. I chuckled and replied, they will receive justice.
Did your bureau have any knowledge on the matter? If not, now you do. Now about me. This Penny Mac is ruthless, unprofessional, forgery, fraudulent, thieves, emotional distress, screaming at me, etc. I have uploaded my initial complaint, per XXXX XXXX and thus, as of this day, nothing is whole. I had never heard of this bureau, until XXXX XXXX referred had indicated that it was time for the foregoing complaints and this is not going to stop.
In addition, their extension numbers and web is ineffective. Do I care, no? They are disrespectful and arrogant. One of the employees, is XXXX. Bad news. All of my payments are through my credit union only, not them. They are not trustworthy. The evidence has been a ten year problem and they still have me in delinquency, as usual. They are a group of morons.
XXXX XXXX XXXX XXXX XXXX XXXX
|
| 10/19/2016 |
Yes |
|
- Loan servicing, payments, escrow account
|
|
Web |
|
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In XXXX of XXXX, I changed my home owners policy because I rented my house out. PennyMac, my mortgage company, never sent out the payment for my new policy which they collect in the escrow so I received a cancellation letter from my insurance agency. I contacted PennyMac that day and was told a check was going out overnight. The money was withdrawn from my account at that time.I then received a lettter that my policy had been cancelled due to non payment. When I called the insurance company, I found out my insurance had gone from {$740.00} to {$1500.00} due to the cancellation. I contacted PennyMac who said something happened with the computer system so my check was never sent out. At this point they withdrew the {$1500.00} from my account and gave me a credit for the difference. I thought things were resolved until I got my new escrow account which said I owed $ XXXX. So I called PennyMac and when reviewing my account, they found that they never refunded my account for the {$740.00} check that never got sent, which has since been refunded and charged my account the {$1000.00} for the new home owners policy. When I spoke with my agent as to why my premium was still inflated from the original {$740.00}, he told me that it was because I was cancelled the previous year. I then contacted PennyMac regarding the fact that I am still being penalized for their misappropriation of my funds and requested the difference of {$300.00} because I would still be paying {$740.00} if my policy had not been cancelled and their supervisor 's response was " You had a year to find another insurance. ". I then contacted multiple insurance companies who all were as or more expensive then what I was paying now. I called the supervior I had spoken with on XXXX/XXXX/XXXX at XXXX, XXXX/XXXX/XXXX at XXXX, XXXX/XXXX/XXXX XXXX, received a call back later that night XXXX/XXXX/XXXX but missed a call as I was at XXXX with my girls and I called her again XXXX/XXXX/XXXX at XXXX but have not heard back from her since. I filled out a complaint with the XXXX on XXXX/XXXX/XXXX, at which point I got a call on XXXX/XXXX/XXXX from another person at PennyMac saying he was in charge of trying to resolve my complaint and PennyMac insurance department were looking into the matter. On XXXX/XXXX/XXXX, I called PennyMac again and received a call back stating that the insurance department had determined that the refund was a XXXX time deal and that they were following with their original decision to not refund me the difference. I do not agree with this decision as I am paying more of my hard earned money because of carelessness of PennyMac. I did everything in my power to avoid this issue, spending hours of my time to correct the original issue and hours of my time a year later because the problem was never completely resolved.
|
| 12/26/2021 |
Yes |
- Debt collection
- Mortgage debt
|
- Attempts to collect debt not owed
- Debt is not yours
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|
Web |
|
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THE COMPANY, PennyMac, PURCHASED A DEBT FROM ANOTHER COMPANY AND I HAD NO INVOLVEMENT NOR GAVE ANY CONSENT TO THE TRANSACTION. ACCORDING TO 15 USC 3002 I AM A NATURAL PERSON WHICH MEANS MY NAME IN ALL CAPS IS NOT ME. MY NAME IS XXXX XXXX. 15 USC 1692 ( A ) ( 1 ) THE TERM " BUREAU '' MEANS THE BUREAU OF CONSUMER FINANCIAL PROTECTION XXXX, XXXX, AND XXXX ARE ASSUMED TO BE CREDIT TO BE CREDIT BUREAUS AND THEIR IS ONLY ONE BUREAU AND THAT IS ONLY ONE BUREAU AND THAT IS THE CONSUMER BUREAU PROTECTION. XXXX, XXXX, XXXX, AND XXXX ARE ASSUMED TO BE CREDIT BUREAUS AND THEIR IS ONLY ON ONE BUREAU AND THAT IS THE CONSUMER FINANCIAL PROTECTION BUREAU. ON JUNE 5TH 1933, CONGRESS ENACTED HJR-192 TO SUSPEND THE GOLD STANDARD AND TO ABROGATE THE GOLD CLAUSE. THIS RESOLUTION DECLARED THAT " WHEREAS THE DEALING IN GOLD AFFECT THE PUBLIC INTEREST AND ARE THEREFORE SUBJECT TO PROVISIONS OF OBLIGATIONS WHICH PURPORT TO GIVE THE OBLIGEE A RIGHT TO REQUIRE PAYMENT IN CONGRESS IN THE PAYMENT OF DEBTS. THIS RESOLUTION DECLARED THAT ANY OBLIGATION REQUIRING PAYMENT IN GOLD OR A PARTICULAR KIND OF COIN OR CURRENCY OR IN AN AMOUNT IN MONEY POLICY, AND. EVERY OBLIGATION HERETOFORE OR HEREAFTER INCURRED, SHALL BE DISCHARGED UPON PAYMENT, DOLLAR FOR DOLLAR, IN ANY COIN OR CURRENCY WHICH AT THE TIME OF PAYMENT IS LEGAL TENDER FOR PUBLIC AND PRIVATE DEBTS. 15 USC 1681 ( 3 ) ( E ) ( e ) THE TERM : INVESTIGATIVE CONSUMER REPORT MEANS A CONSUMER REPORT OR PORTION THEREOF IN WHICH INFORMATION ON A CONSUMERS CHARACTER, GENERAL REPUTATION, PERSONAL CHARACTERISTICS OR MOD OF LIVING IS OBTAINED THROUGH PERSONAL INTERVIEWS WITH NEIGHBORS, FRIENDS, OR ASSOCIATES OF THE CONSUMER REPORTED ON OR WITH OTHERS WITH WHOM HE IS ACQUAINTED OR WHO MAY HAVE KNOWLEDGE CONCERNING ANY SUCH ITEMS OF INFORMATION. PennyMac HAS ALSO INCLUDED IT'S SYMBOL WHILE ATTEMPTING TO COLLECT A DEBT WHICH IS A VIOLATION OF 15 U.S. CODE SECTION 1692b ( 5 ). I DID NOT GIVE PRIOR CONSENT TO COMMUNICATE TO ME. THERE WAS NO PRIOR CONSENT FROM A COURT GIVING PERMISSION TO CONTACT ME, THUS THIS COMMUNICATION IS A VIOLATION OF 15 U.S. CODE 1692c ( a ) WITHOUT A COURT ORDER BROUGHT FORTH. PennyMac REPORTED FALSE AND INACCURATE CREDIT INFORMATION VIOLATING 15 U.S. CODE SECTION 1692e ( 8 ). THERE IS NO PRIOR CONTRACT WHICH AUTHORIZES XXXX TO COLLECT A DEBT FROM ME AND THERE IS NO PART OF A CONTRACT THAT EXPRESSLY AUTHORIZED THE COLLECTION OF SUCH AN AMOUNT. THIS IS A VIOLATION OF 15 U.S. CODE SECTION 1692f ( 1 ). I HAVE REQUESTED THIS COMPANY TO PROVIDE DOCUMENTARY EVIDENCE THAT A LAWFUL AND LEGAL VALID CONTRACT EXIST BETWEEN PennyMac AND I, XXXX XXXX XXXX XXXX. PennyMac has also threatened to auction my property and foreclose it. The transaction of a loan from PennyMac into the Consumer 's account of XXXX XXXX XXXX XXXX does not exist.
|
| 12/27/2016 |
Yes |
- Bank account or service
- Other bank product/service
|
- Account opening, closing, or management
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|
Web |
Older American |
|
I did a VA Refinance by XXXX - a California Corporation on XXXX. By XXXX, the mortgage was sold by XXXX to PennyMac - ( PennyMac loan number XXXX ). My first payment to PennyMac was on XX/XX/XXXX. XXXX Mortgage and PennyMac required that my Hazard Insurance and Property Taxes be paid through an escrow account. My payments were all made on time and included the requested escrow account amounts. However, PennyMac ( XXXX ) did not pay my Hazard Insurance with XXXX. By the time I saw correspondence related to this issue, I could no longer reinstate my cancelled insurance policy and was forced to re-apply for a modified policy ( some policy provisions were no longer available ). Upon the initiation of a new policy, it was paid by the PennyMac escrow and I was assured that an accounting would be done and I would receive a refund as appropriate. The amounts due, from XXXX perspective, were not paid for the period of XXXX until the policy was cancelled on XX/XX/2016. The new policy was in force on XX/XX/XXXX, leaving a period of XXXX and XXXX wherein my house was not covered by Hazard Insurance.
I have needed, so far, to spend over 10 hours of my time on hold or speaking with someone at XXXX Mortgage, PennyMac, XXXX, and the XXXX collection agency - XXXX. The problems that I can not get resolved are as follows : 1 ) get PennyMac to pay the currently due amount of {$300.00} for the collection account with XXXX XXXX XXXX for the period they failed to pay for Farmers Hazard Insurance policy ( XXXX through XX/XX/XXXX ). A " supervisor '', XXXX, did call and leave a message that there was no money due from XXXX the bill was probably a " scam ''. So, I called her back and left a message explaining that she probably inquired about the current policy number which is paid - not the policy that was cancelled due to the failure of PennyMac to make the required XXXX payments ( the policy numbers are cancelled=XXXX, new=XXXX ). 2 ) I received a demand notice from PennyMac for {$19.00} to cover the XX/XX/XXXX to XX/XX/XXXX period because I did not provide " proof of coverage '' - which is ridiculous since they are the cause of the problem, and 3 ) be paid the remainder of the refund I should receive since there was a two-month period with no Hazard Insurance coverage ( it should be about {$100.00} ). I did receive a check in the amount of {$87.00}, which is less than one month of the cost of the prior cancelled policy.
This problem has been going on for more than a month. I own and run a small business and should not have to waste over 10 hours of my time resolving a problem that was caused by PennyMac and/or XXXX Mortgage. When I first looked at my PennyMac Escrow and Hazard Insurance information online, it had the correct old policy number and annual amount due.
|
| 01/18/2023 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
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Web |
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We have been working with PennyMac and they are excellent. We had finished our complaint/notification to them and they had responded back on XX/XX/XXXX. At that time they had never been contacted by XXXX. We received an interesting call from the PennyMac loan remodification department on XX/XX/XXXX explaining they had XXXX information from key bank and there was a lien on our home. It was strange to both PennyMac as well as us, as XXXX wanted to know if we had a lawyer. PennyMac was as confused by that questions as we were. We explained that we had contacted XXXX and they were said they would have their lawyer call us and that they would contact us back. They had not done that yet. The PennyMac representative told us about some XXXX concerns and other information and advised us to call XXXX again. We did so immediately. We also produced a CFPB feedback notice and attached it to our original filing. XXXX is important to note that this was the same day that XXXX submitted continuation on their complaint. I wanted to submit a new filing because this is now scheduled for hearing. PennyMac has been wonderful to work with, but they need to be informed as I believe XXXX also needs to be aware. We were notified and we contacted the lawyer. We were told there was no scheduled foreclosure. We also contacted penny Mac and as XX/XX/XXXX they had never been contacted by XXXX. We have communicated and called XXXX, as was our intention and what was suggested. They said they escalated it and would contact us the next day by a XXXX XXXX, we have not been contacted by XXXX. We have only been harrassed by a lawyer and a builder with eviction notices and 3 day response subpoenas in-between XXXX and XXXX XXXX. Please we want to resolve this, Here is XXXX sample of a text message from XX/XX/XXXX, this is consumer deception, a builder, some investors and a lawyer made this claim. When we received any notifications we contacted XXXX and PennyMac. We were told there was no foreclosure. This is wrong : Good morning XXXX, please give me a call when you have a few minutes so that we can discuss your options to remain in the house. As I mentioned earlier, it centers on PennyMac continuing with the terms of the loan modification agreement they sent you and that you returned to them. They were not aware that you no longer own the house but it XXXX not be a problem when they learn that there is an option for you to regain ownership of the house. XXXX is of the essence. The XXXX days notice given Tuesday of last week officially begins the process of my partners and I obtaining possession of the house. I am hopeful we can come to an agreement that allows you to stay. Theres no doubt this is very stressful for you and your family. I look forward to speaking with you soon.
|
| 09/15/2016 |
Yes |
- Mortgage
- Conventional fixed mortgage
|
- Application, originator, mortgage broker
|
|
Web |
Older American |
|
Dear Sir/Madam : My husband and I were contacted by PennyMac Mortgage inquiring whether we wanted to re-finance our existing mortgage with them on property we own in XXXX, XXXX We declined, but agreed to apply for a mortgage on property we own in XXXX, XXXX. This property includes a newly constructed home. We began the application process with loan originator XXXX XXXX, and completed the necessary paperwork with a loan processor who requested identical income and tax information multiple times, and requested my online password in order to access my account. When I declined to provide my password and asked to speak with a supervisor, she said she would return my call. I subsequently learned that she had left PennyMac 's employ. After several more phone calls and many weeks, we received notice that we had been rejected for the loan because of inadequate income, however, the loan processor had miscalculated our income by nearly {$2000.00} per month. We requested and received a refund for the property appraisal fee of {$320.00} which we had paid to PennyMac with our application. XX/XX/XXXX, we were contacted by XXXX XXXX ' supervisor, XXXX XXXX, who reviewed our original application and assured us that the loan processor had made a mistake and we did, in fact, qualify for the new loan, which represented only 40 % of our property 's appraised value. We provided the appraisal, done only weeks earlier with our construction loan, however, we were told that PennyMac required their own appraiser and that we should restart the loan process with another {$320.00} appraisal fee. XX/XX/XXXX, we paid the fee again and re-submitted paperwork to XXXX XXXX. We were told that he would be working with the underwriting department directly and that the loan should close within 30 days. Instead, we kept getting more requests for additional financial information previously provided.
On XX/XX/XXXX, after more stalling and no response to our emails or calls, I learned that PennyMac had, without authorization, run my credit again, resulting in a significant drop. This inquiry was NOT authorized, and in fact, I told XXXX XXXX when we spoke by phone that if it was necessary to run our credit again to resubmit the loan application, I would not be proceeding He assured both us that the credit information PennyMac received in XXXX would be sufficient After learning that my credit was damaged and the loan was still in limbo, I called XXXX XXXX asked that the loan be cancelled and all monies refunded He sent an email saying the {$320.00} would be refunded. I have yet to see it and I have followed up with emails to XXXX XXXX, XXXX XXXX, without response since XX/XX/XXXX. It appears that both may now have left PennyMac.
Please let me know if you are able to assist
|
| 09/17/2015 |
Yes |
- Mortgage
- Conventional fixed mortgage
|
- Loan servicing, payments, escrow account
|
|
Web |
Servicemember |
|
DO NOT GET A MORTGAGE OR REFINANCE WITH PENNYMAC LOAN SERVICES UNTIL YOU READ THIS!
My husband and I got our original mortgage through XXXX XXXX. After five years, we received a notice in the mail that PennyMac was offering lower interest rates so we ended up refinancing in XXXX XXXX. We had asked PennyMac to to give us the same set-up as we had with XXXX XXXX, which was to include our home owners insurance to the monthly mortgage payments. They failed to do so, so we continued to pay the home owners insurance on our own.
On XXXX XXXX, XXXX, I received a letter from PennyMac that they purchased home owners insurance on my property in the amount of {$4200.00} which they placed on my home in XXXX XXXX. Naturally, I called PennyMac to clear the situation up, but instead I was subject to being either transferred from department to department several times, with no one knowing what they were talking about, to being placed on hold for several minutes until I eventually got frustrated and hung up.
I wrote a letter to PennyMac, and they said they reviewed my contract and it showed that I did n't have " Hurricane Insurance '' only " High winds '' and that I had let my homeowner 's insurance collapse. Not true ... ( Have all the documents to prove it and my insurance company faxed my documents to various individuals at PennyMac on several occasions to verify the same. ) Also at the time of closing, the Hazard Insurance Authorization Requirements form from PennyMac did not state that " XXXX '' coverage was an insurance requirement for escrow of funds. There is no right under the existing mortgage for PennyMac to collect insurance funds without notice to the borrower indicating these new charges. There was never any notice sent to us with regards to placing this insurance on our property either. In fact the insurance provided by us was deemed sufficient and there was no escrow requirement for hurricane insurance imposed upon this loan.
On XXXX XXXX, XXXX, I wrote to PennyMac once again requesting for a master copy of the forced placed insurance policy and proof from PennyMac that the premium charged to me was in fact paid by PennyMac. There has been no response to this simple request.
Finally, I was left with no choice but to hire an attorney. And every month they continue to spin their wheels telling us that it is in review status. I figured that I would first report them to the XXXX and Consumer Reporting. If they continue to spin their wheels, and not drop these ridiculous charges, we will be left with no other alternative but to sue PennyMac for unfair and deceptive trade practice as well as a Fair Debt Collection Practice violation.
So I ask you? Do you really want to deal with these issues? Then consider this my gift to you.
|
| 06/21/2019 |
Yes |
|
- Struggling to pay mortgage
|
|
Web |
|
|
We had an unexpected and sudden drop on income end of last year XXXX and this year XXXX, and we did not have enough money to pay the mortgage, we got almost 3 month late in XX/XX/XXXX and the mortgage company, XXXX XXXX, sent us an intent to foreclose in XXXX, we talked to them and we try to start a mitigation but it was complicated so we did not formally start the process in writing because the document to file was so heavy and asked many other documents. We talked on the phone about the mitigation process and were assigned a mitigation officer.
Then we caught back on payments and I was current in XXXX, but in the mean time XXXX sent a letter saying we don't qualify for a mitigation. We called XXXX but the Mitigation officer also said to us we should not follow anymore the mitigation because XXXX was about to transfer the loan. So without me knowing, XXXX transferred the loan to a third party called Penny mac. Meanwhile I was late again in XXXX and XXXX. i was up to two months late. I am really struggling, I am paid late my employer and I have to pay multiple bills at once. Currently, I am only one month late though for XX/XX/XXXX. Since XXXX transferred me to this other servicer Penny Mac, each time I call Penny mac over the phone to pay my mortgage, they tell me that they sent me an intent to foreclose, I am not sure why they say that, I was only 2 months late and now only one month late for XXXX, and I never received a new notice of intent to foreclose ( A foreclosure, I thought, can only be opened if one is 120 days late ). However, looking through all my papers, I did receive a notice of default and intent to accelerate on XX/XX/XXXX that was sent as a regular mail not certified. That seems a notice of a different nature, it says I have until XX/XX/XXXX to cure the loan or they will accelerate it. We are already XX/XX/XXXX. I am really worried, It seems I have to cure loan immediately XXXX by XX/XX/XXXX XXXX, with late fees that they added of {$370.00}, or they will accelerate the loan and foreclose? if this true? I feel my original mortgage company XXXX transferred me to a mortgagor who just tries to foreclose on me any way possible using a tactic that I am very unfamiliar with this threat of loan acceleration, and I just read a court decison where a person complained of a wrongful foreclosure against that same mortgagor Penny mac. I am extremely suspicious that I was transferred to a third party loan servicer right at the moment I was experiencing financial problems and could not catch up payments. I believe the current mortgagor is just trying to foreclose on me by requiring I cure immediately or they will accelerate the loan and foreclose. XXXX should not have transferrred the loan while I was trying to mitigate.
|
| 12/21/2022 |
Yes |
|
- Trouble during payment process
|
|
Web |
|
|
THE SUMMARY OF EVENTS/ COMPLAINT.
PennyMac keeps failing to comply with loan servicing and loss mitigation guidelines. I have been attempting to get a loss mitigation compromise from PennyMac which allows me to keep my home for months. I keep getting bad information from PennyMac and am stuck due to issues on PennyMacs side.
I am divorced from XXXX XXXX, who was a co-borrower and a co-owner. She has not lived here for years and she has not been an owner of this property for more than 3 years. PennyMac has a copy of the deed which proves that XXXX XXXX transferred her ownership interests to me in XXXX. I am not in touch with XXXX XXXX, I am not able to get in touch with her, and she is not cooperative or involved in this.
PennyMac keeps sending documents, including to my address, which are addressed to XXXX XXXX. PennyMac has known for years that XXXX XXXX does not live here.
One example of PennyMacs behavior is that it told me I had to have XXXX XXXX permission to sell the home ( not that I want to sell it ) even though shes no longer an owner. I now believe that statement to be completely wrong.
PennyMac also stated that it was sending me a loan modification type offer which included removing XXXX XXXX as a borrower. This turned out to be false. Instead, it again sent partial claim documents to be signed by me and by XXXX XXXX.
Instead of moving forward with the type of offer which would resolve this, PennyMac filed a foreclosure case. While I waited for the offer I was supposed to get, the amount of the delinquency claimed grew larger.
I am obviously not the only person who has been divorced from a co-borrower. There must be options for modifications when an ex-spouse who is NOT an owner wont cooperate. I have done what PennyMac has told me to do each time to modify my loan and take XXXX XXXX off the documents such as the deed in my name and then insurance in my name, divorce decree. Each time they would ask for one of those and I was told that they would take her name off. in the mean time they said to skip that payment thus putting another month behind. I can afford to the house payment but they have misguided to the point of where I am.
**There is a foreclosure hearing scheduled for XX/XX/XXXX. At that hearing, PennyMacs agents will be seeking to schedule a foreclosure sale of my home. ** THE RESOLUTION/ WHAT SHOULD BE DONE.
The foreclosure case should not go forward. PennyMac should direct its North Carolina agents to dismiss or at least put on hold XXXX XXXX, North Carolina case # XXXX SP XXXX.
PennyMac should provide a loss mitigation option which allows me to retain my home, taking into account that my former wife, co-borrower XXXX XXXX, is not an owner, not a resident of the property, and not cooperative.
|
| 09/22/2015 |
Yes |
- Mortgage
- Conventional adjustable mortgage (ARM)
|
- Loan servicing, payments, escrow account
|
|
Web |
|
|
I am behind on my mortgage due to a major medical event.
I am now better and earning plenty of money XXXX bank verified XXXX to pay my mortgage and I have the ability to gather a large lump sum payment to reset my mortgage.
My mortgage is held by Pennymac. I have tried XXXX, Making Home Affrodable, Lawyers, and Direct negotiations with Pennymac to arrive at a deal that resets the mortgage.
On many instances on the phone with Pennymac I am told of offers to reset my mortgage XXXX was for XXXX another for XXXX and another was for XXXX cash payment. The XXXX XXXX was first I was told a " package '' would arrive in the mail and that it would detail this deal.
So I spoke to relatives collected the OK that they would help. Everyone combined would be the XXXX.
My next call to Pennymac the person knew nothing about the XXXX deal. But I had it via email from their underwriter that such a deal was possible.
I then spoke to a supervisor there named XXXX and was told with XXXX or XXXX the loan could be reset but that I needed to submit an appeal to my recently rejected XXXX application so that he could open the files.
I sent in the appeal letter.
The following call that deal was off the table. I asked for a supervisor got noplace.
So I called the XXXX line and then had a conference call with XXXX and Pennymac. The result of this was the XXXX deal was in notes but that funds needed to be seen by Pennymac in XXXX of my bank accounts prior even discussing a deal.
My response was how can I get folks to contribute to something you are not documenting? How is it harmful for you to state what you would do if I give you that money? They will not document nor commit to a deal for cash without the cash inplace for them to take.
Needless to say I find this troubling and shady.
What I want to do is avoid bankruptcy and the damage that does by making a LARGE lump sum payment and using my verified income to make monthly payments.
Pennymac rejects me for inhouse financing and XXXX. Inhouse because I am in foreclosure. XXXX because I make too much money and the house has too much equity.
I feel that the constant changing of deals, conditions of deals, statement of possible deals that vaporize the following call, inability to refinance with another bank because Pennymac has me in foreclosure, etc ... all make bankruptcy inevitable.
Bankruptcy repayments on mortgages are within 60 months so that is a massive compression of debt despite my willingness to pay large sums.
The entire process and changing landscape of deals has been very stressful and in my opinion nobody should be able to constantly change deals. I ca n't do it in my business and they certainly should no be allowed to when peoples homes are in the balance.
|
| 06/22/2017 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Struggling to pay mortgage
|
|
Web |
|
|
My ex mother in law XXXX XX/XX/XXXXand her house was left abandoned by her son. In XX/XX/XXXXof XX/XX/XXXXthe house was still sitting. My children wanted to live in grandma 's house and since my lease was up in my apartment I decided to see what I can do about that situation. I contacted my ex husband and he told me he did not want the house. I asked for the mortgage information so I can see what I can do to save the house. My kids and I moved in the house and I started to correspond with the mortgage company. I was told that I can assume the loan and do a mortgage modification. I was told if I qualify and complete the modification is when the loan can be assumed. I started the process. I got approved for the modification and was to make my first payment XX/XX/XXXX.. I received a call from PennyMac stating that everything was not approved yet in XXXX. I asked what about the payment I am supposed to make this month. The lady stated that I should not make a payment until I am approved. I stated ok and how will I know if I am approved. She stated that I will be notified in writing. I said ok and waited for the correspondence. I received a call at the end of XX/XX/XXXX concerning payments that should of been made XX/XX/XXXXand XX/XX/XXXX. I told the person exactly what I was told to me on the phone. She told me that call was a different department concerning the assumption. I told her that I was not informed of that and she stated that they were going to cancel the modification if I did not make the payments. I told her that I can make XX/XX/XXXX at that time and I will make XX/XX/XXXX2 weeks after that and she stated ok. I made the payment. There was a problem in the house in which I had to pay a huge amount to get something fixed. I explained to PennyMac this situation and was told that I needed to make payment for XX/XX/XXXXand XX/XX/XXXX that day. I explained my dilemma and they stated that they can deny the modification and I can reapply in 45 days. I stated that will be fine. I called in 45 days to reapply and I was told that they already put everything in for me to have assumed the loan so the loan was in my name. I stated how was that possible since the modification did not go through. She could not give me the details since that was a different department. So now they are stating that I have taken over the loan the was it was which was in foreclosure and past due {$20000.00}. I asked what I can do and I was told to come up with {$10000.00}. I explained that I did not have that kind of money and specified that this is not right that I was put on this loan under false pretense and she stated that she has nothing to do with that. I need help. I do not know what to do but I know this is not right possibly legal.
|
| 10/31/2016 |
Yes |
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- Loan servicing, payments, escrow account
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Web |
Servicemember |
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XX/XX/XXXX and XX/XX/XXXX I was refinancing my house. I had a loan through Penny Mac. My new mortgage company XXXX XXXX XXXX and title insurance Company XXXX XXXX XXXX reached out to Penny Mac to get the pay off amount for the loan. A few days after this number was discussed, Penny Mac sent a check to FEMA on my behalf. This changed pay off numbers. The refinance happened and around XXXX XXXX, Penny Mac reached out to XXXX XXXX about the discrepancy. On XX/XX/XXXX, I reached out to XXXX XXXX because I had received a notice from Penny Mac that my mortgage was late. I have since received a check from FEMA that my account was paid in error. I am trying to resolve this issue, but have been given XXXX different amounts from Penny Mac as to what I owe. I am completely confused as to how a company can have so many different numbers as a balance on my account. I am willing to pay the amount that they paid extra to my escrow to FEMA but I do not feel liable for the interested and added fees that are added on to this account. I keep being told that someone will return my call but each time it is at least 2 days not the 1 promised.
I am a XXXX military member and I have a title insurance company helping me out. I can not imagine the stress this would put on someone else in my situation. I have XXXX XXXX and the stress of this is causing me physical pain. I would love this issues addressed quickly and with no further confusion. I would also love for someone to look into the constantly changing numbers on my bill. It was {$1000.00}, {$1300.00} ( I scratched this one out in my notes so it might be off ), and {$1700.00} all in a 20 minute phone cal on XX/XX/XXXX. The first letter I have says {$1600.00} and the second one {$820.00}. The phone call on XX/XX/XXXX said {$1500.00} and the final call today stated {$1500.00}. This last amount was also included in an email and an hour later they decided they could be gracious and knock {$100.00} off since I was concerned.
I know you are n't supposed to mention feelings in a business letter, but I feel like this is one big joke. Penny Mac paid FEMA despite not having to. Penny Mac waited over a week to address the issue with XXXX XXXX who sent the money. Penny Mac waited 2 weeks to reach out to me. How is this my almost {$2000.00} mistake? Penny Mac is a big corporation and it would say much more about their character if they could XXXX lose on a mistake they made. It makes me curious how many thousands of dollars in their income is due to problems they caused but would not own up to. I work hard for my money both my military pension and what I get from working in XXXX and I do n't have {$1700.00} to hand over due to a clerical error on the part of a huge corporation!
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| 02/10/2023 |
Yes |
- Debt collection
- I do not know
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- Took or threatened to take negative or legal action
- Seized or attempted to seize your property
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Web |
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Complaint XXXX and XXXX to XXXX and PennyMac XXXX XXXX XXXX On XX/XX/2016 I entered into securities transaction with undisclosed to me XXXX XXXX who was acting via chain of sham XXXX XXXX XXXX XXXX who acted under name of XXXX XXXX XXXX XXXX XXXXXXXX XXXX XXXX, XXXX which was renamed by XXXX XXXX XXXX XXXX XXXX and XXXX XXXX XXXX XXXX XXXX registered by XXXX XXXX as a single member LLC Another undisclosed to me part was originator XXXX XXXX, XXXX XXXX XXXX XXXX XXXX XXXX whom actor for hire XXXX XXXX, XXXX forwarded my information via secured website MSP I did not know anything about XXXX involvement as a services or its fictitious company XXXX or originator XXXX XXXX As the result of this deception I signed promise to pay XXXX and mortgage to give XXXX access to my property as a collateral On XX/XX/2016 XXXX servicing hired XXXX XXXX XXXX XXXX XXXX to send me letter on XXXX letterhead informing that XXXX dab XXXX is my new serviced and directed me to send money to XXXX XXXX in XXXX TX XXXX XXXX where my money were collected and processed by XXXX, XXXX owned by XXXX XXXX, XXXX who deposited my money with XXXX XXXX XXXX, owner of XXXX XXXX XXXX and XXXX XXXX who is a the 100 % owner of fictitious corporation PennyMac XXXX XXXX, XXXX incorporated as a separate entity by XXXX XXXX as a single member LLC On XXXX XXXX XXXX sent me a letter that my loan was transferred to XXXX XXXX dba PennyMac XXXX XXXX XXXX I started receiving letters and billing statements from XXXX, XXXX on XXXX XXXX company letterheads directing me to mail payments to the same post office in XXXX Tx where my money were collected and processed by XXXX without any references to XXXX XXXX XXXX XXXX to mention, PennyMac XXXX XXXX XXXX co XXXX who fully own XXXX XXXX PennyMac is owned by hedge funds XXXX XXXX and XXXX XXXX XXXX XXXX XXXX XXXX XXXX died, but XXXX continued to demand from me money on his behalf On XXXX XXXX XXXX XXXX managed to initiate foreclosure in my home When I offereda total payoff for my alleged loan, XXXX XXXX directed me to send my full payment to XXXX XXXX XXXX in the account which routing number belongs to XXXX XXXX XXXX XXXX, and without any return address to PennyMac XXXX services XXXX except a XXXX XXXX rented by XXXX In XXXX XXXX XXXX XXXX hired lawyer XXXX XXXX who submitted claim in his behalf I want to clarify how XXXX XXXX XXXX issued directions to chase and how lawyer XXXX is going to deliver him my money?
I found an alternative financing and want to pay my alleged debt in full if XXXX XXXX will provide me warranty of ownership of my alleged debt signed by an individual officer who can verify this ownership and give me a copy of account receivable from PennyMac loan services , LLC
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| 09/05/2022 |
Yes |
- Debt collection
- I do not know
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- Took or threatened to take negative or legal action
- Seized or attempted to seize your property
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Web |
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On XX/XX/XXXX I received a robo-signed letter with another legally invalid [ fraudulent ] " Payoff Statement '' which again lacks any names of my alleged " creditor '' ; or any names of any employees of my alleged " creditor '' who was authorized to prepare this Statement ; and who actually prepared this Statement or who will receive my money This Statement must be updated according to the law. I DEMAND THE NAMES AND CONTACT INFORMATION FOR EVERY INDIVIDUAL EMPLOYEE WHO PREPARED THIS PAYOFF STATEMENT AND WHO WILL RECEIVE AND PROCESS MY MONEY.
I want to make another good faith attempt to resolve this situation and make a payment to my alleged Creditor- if it exists and owns the account receivable for my alleged " loan '' which I want to repay.
I offer to drop all of my inquiries and challenges and make a FULL PAYMENT ( by personally delivering my money in certified check to the authorized employee of my alleged Creditor ) if an officer of any business entity warrants ownership of an unpaid loan account due from me and acknowledges the agency of the designated servicer to administer, collect and enforce said account.
This requests is based on XX/XX/XXXX official admission that my money are actually collected by XXXX XXXX XXXX XXXX - while another company -PennyMac- XXXX to be a " Servicer '' who does not perform any Servicing functions that so ever, since the billing statements and correspondence is sent to me by XXXX, XXXX XXXX
I do not know who received my money since XXXX has no records about any of my " transactions '' with XXXX, XXXX or XXXX ( since it was none of them ) and XXXX XXXX who suppose to get my money ) deny its involvement. See attached.
During all time in question all my money were deposited by XXXX on XXXX XXXX XXXXXXXX 's account - whose owner is unknown to me. PennyMac was not even mentioned in these transactions at all.
Now I am directed either to wire my $ XXXX to XXXX XXXX XXXX - whose " home lending executive team '' can not confirm that this account is owned by PennyMac ; while XXXX XXXX once again confirmed that they have no records about any payments made on my behalf in XXXX by XXXX or XXXXXXXX XXXX or anyone else.
Moreover, XXXX XXXX is now asking ME to provide them evidence of payment on my behalf!
Bear to repeat, XXXX has no records about this transaction at all- since here was no transaction.
I repeat my request : I will make a FULL PAYMENT, by delivering my money in person to the authorized employee of my alleged Creditor if an officer of ANY business entity warrants ownership of an unpaid loan account due from me and acknowledges the agency of the designated servicer to administer, collect and enforce said account.
Best regards XXXX XXXX
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| 01/04/2017 |
Yes |
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- Application, originator, mortgage broker
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Web |
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Myself and my same-sex partner are currently in a 30-year fixed FHA mortgage. In XXXX, we were originally contacted by PennyMac to do an FHA streamline refinance because rates were favorable. After talking with the sales agent, we decided to apply for a 30-year fixed conventional instead in order to save having to pay MIP. We were verbally told over the phone that the underwriter did not find the evidence of extenuating circumstances sufficient enough to forgive a foreclosure that happened 6 years and 11 months ago - 1 month away from 7 years when it would drop from my record entirely. I then asked the sales agent if we could go back to the FHA Streamline Refinance and he said " Yes - and it would still lock in your very low rate ''. Later that same day, he copied me on an email to the loan processor and underwriting requesting that my application be switched to the 30-year streamline. 2 days later, we signed the application and loan disclosures for the FHA streamline at a 3.25 % rate. We submitted all signed documents a couple of days before the XXXX XXXX elections in the U.S. Our rate was locked until XXXX. However, shortly after the elections, mortgage interest rates went up considerably and quickly. We did not hear back from anyone at PennyMac. When I finally contacted them a week later, they verbally told me over the phone that the underwriter on the conventional loan DENIED and CLOSED our application so we lost our rate lock. Despite this, I have an email messages that asked the underwriter and loan processor to CHANGE our application - which were sent on the day we were verbally told we were denied. I have YET to receive any documentation in WRITING of our denial / cancellation and the reasons given. Whenever I 've inquired why the loan processor and underwriting did not follow the instructions requesting to switch to an FHA Streamline, I 'm given an " I do n't know '' answer and that the issue would be escalated to management. The sales person, of course, offered to start a new application but since market rates have gone up since we originally applied, the new rate offered was 4.125 %, not 3.25 % which we had originally locked. I suspect that PennyMac is failing to comply with fair lending practices because interests rates rose by almost a full percentage point after the election which was considerably higher than I had " locked in ''. I asked that the issue be escalated to upper management and that I receive follow-up explanation and written documentation. That request was processed on XXXX/XXXX/XXXX ( per email from sales agent ). As of the date of this complaint, ( XXXX/XXXX/XXXX ), I have received no resolution, no explanation, and no denial / cancellation documentation.
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| 09/06/2020 |
Yes |
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- Incorrect information on your report
- Account status incorrect
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Web |
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I contacted PennyMac to inquire about COVID-19 pandemic assistance. At the time, my account was 30 days past due. I was informed by a representative that by enrolling in the COVID-19 pandemic assistance program, I would not be required to make the past due payment and enrollment would resolve negative credit reporting.
After enrolling in the program, I received a written communication from PennyMac confirming my enrollment in the program. Furthermore, the letter confirmed that by participating in the program, no negative credit reporting would occur.
Upon checking my credit report, I noticed my account was reported 30 days late contrary to the aforementioned. I spoke with XXXX ( XXXX x XXXX ) who confirmed she reviewed the recording and verified that I was informed that by enrolling in the COVID-19 pandemic assistance program, I would not be required to make the past due payment and enrollment would resolve negative credit reporting. XXXX also confirmed the written communication from XXXX.
Despite XXXX acknowledgements, in no way did she honor what was stated verbally and provided in writing. To avoid further adverse credit reporting, I remitted the past due payment ( XX/XX/2020 ). However, my account continued to report 30-days past due.
I have contacted XXXX on subsequent occasions, however at this point XXXX dont know what to believe. I completely feel like PennyMac is misleading its customers with no desire to be truthful.
This evening, I reviewed information published on Consumer Financial Protection Bureaus website. Source : https : //www.financialservicesperspectives.com/wp-content/uploads/sites/6/2020/06/Sup-Materials.Blog_.cfpb_fcra_consumer-reporting-faqs-covid-19_2020-06.-GPremo-AChastain-CHancock.-June-2020.pdf.
The information reads as follows, If during the accommodation the consumer brings the credit obligation or account current, the furnisher must report the credit obligation or account as current. This could occur, for example, if the accommodation itself brings the credit obligation or account current ( such as a loan modification that resolves amounts past due so the borrower is no longer considered delinquent ) or if the consumer makes past due payments that bring the credit obligation or account current.
Notwithstanding, I paid the past due payment and the accommodation deferred subsequent payments. As such, the account should no longer be reported as delinquent to the credit reporting agencies.
I am hereby demanding that PennyMac report my account as current as stated both verbally and in writing. I have fulfilled my obligations. PennyMacs continued and misleading statements is causing significant harm to me both emotionally and financially.
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| 03/14/2017 |
Yes |
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- Loan modification,collection,foreclosure
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Web |
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I 've been XXXX since XXXX with private XXXX as my only income until XXXX. In XXXX, my private XXXX company began to withhold my monthly benefit from me reducing my income by more than 50 %. This is non-cancellable policy insured to age XXXX. I purchase my home in XXXX XXXX with a loan from XXXX XXXX, who sold it to XXXX. I notified XXXX of the hardship. They informed me I had to apply for Hardest Hit funds first before I could get a loan modification. I did and Hardest Hit funds were applied to bring my loan current. Then I asked XXXX for a loan modification. XXXX turned me down because my loan was current via Hardest Hit. once the Hardest Hit funds were exhausted, I I applied for a modification. Through XXXX 's delays and putting me off- by the time they finally began talking to me about loan modification, they said I was too far behind to qualify for many programs. Many of the HARP programs I did n't qualify for because I purchased my home in XXXX. However, I was forced to purchase this home due to being displaced from my home purchased in XXXX XXXX as a result of an unexpected divorce. A home that I owned with my husband, but I was not on the loan with. I was the person who serviced the loan, but the lender would n't transfer the loan into my name because the house would n't appraise for the amount owed.
In XXXX XXXX finally agreed to let me make trial payments which I did. After the 4th or 5th payment, they sold my loan to PennyMAC. They did n't like my signature the first time, then they did n't like the military format I used for the date the second time. Then there was some vague language about a {$60000.00} balloon at the end of the loan I did n't understand. As I communicated with PennyMAC, I was told my loan was in review as late as XXXX XXXX. The loan docs were expired, and they could n't send new ones but said I could apply for new ones. XXXX XXXX I received foreclosure notice and date to sell my home of XXXX XXXX. We submitted new documents immediately, but they only confirmed the docs on XXXX XXXX. They said it would take 30-45 days for an answer. 18 days later they rendered a denial saying they had exhausted all options and that my income was too low and what I was behind with penalty and fees was too much. As soon as I hung up with XXXX XXXX, I went to XXXX for an eligibility questionnaire and I qualified to apply. I received a confirmation number and will receive logon credentials for an application within 24 hours. l have a debilitating condition and I care for XXXX XXXX children who need the stability of our home which we 've enjoyed since XXXX. We 're the very example of why these programs are created, but the process is too complex to make them accessible.
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| 10/06/2020 |
Yes |
- Debt collection
- Mortgage debt
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- Attempts to collect debt not owed
- Debt was result of identity theft
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|
Web |
Servicemember |
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Dear CFPB, Please find my complaint against XXXX and PennyMac for fraud ; misrepresentation, deceit, identity theft and other crimes.
On XX/XX/XXXX I went to local tax office to check if PennyMac paid for my taxes.
XXXX XXXX had no records that PennyMac paid my taxes - but it was done by XXXX who did it twice - in XX/XX/XXXX and XXXX, XXXX. In other words, as soon as XXXX XXXX removed PennyMac from their XXXX system, PennyMac was unable even pretend to do any servicing functions.
PennyMac on XX/XX/XXXX told me that XXXX as their " tax vendor ''.
XXXX previously claimed that XXXX has no relationship to my loan.
Since XXXX is now my " tax vendor '', I demand XXXX to confirm their status as PennyMac 's tax vendor ; identify which Company handles my escrow account ; and provide me the name of the company whom PennyMac and XXXX are servicing.
XXXX informed me that Servicing rights were transferred to PennyMac ( but did not mentioned WHOM XXXX serviced from XX/XX/XXXX to XX/XX/XXXX ) PennyMac continue to insist that they PURCHASED my loan from someone whom PennyMac can not identify. XXXX never mentioned any sales of my loan to PennyMac.
I demand PennyMac to identify the Seller of my loan ; provide me a copy of release of my so-called " lien '' to the prior " owner '' of my loan and explain why this release is not recorded with VA as required by their rules.
My checks are always cashed by XXXX XXXX XXXX who deny any relationship to my loan ; and collected and processed by XXXX/XXXX.. My taxes are paid by XXXX who bear to repeat deny their relationship to my loan.
PennyMac continue to pretend to be a SErvicer without ANY evidence regarding the establishment or current status of the account reflecting ownership of my alleged obligation.
While I have a pile of evidence that PennyMac is merely an actor for hire to play " Servicer 's '' role hired by Investment Banks ; and the actual " servicers '' are XXXX and XXXX XXXX who serves their masters ( investment banks ) and is willing to sacrifice itself and the self-proclaimed servicers to protect the XXXX ( investment bank ).
This means that all records, payment history and document handling does not originate with XXXX, XXXX or PennyMac, but rather with XXXX XXXX and XXXX, who are actually answering to an investment bank who receives both proceeds from my payments and who pockets my escrow money ( taxes are paid by XXXX from a pool operated by XXXX XXXX XXXX received from sales of derivatives to investors ) And the investment bank ( here : XXXX XXXX XXXX ) receives it as off balance sheet transactions that are actually revenue that is untaxed. This game has been played by investment banks for last 20 years.
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| 08/01/2016 |
Yes |
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- Credit decision / Underwriting
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Web |
Servicemember |
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I USED MY VA BENEFITS TO PURCHASE OUR FIRST HOME HERE IN XXXX. AFTER SOME TROUBLE WITH THE MORTGAGE BEING BOUGHT BY PENNY MAC WITHIN 15 DAYS OF MY SIGNING THE PAPERWORK, AND WHO DID NOT INFORM ME WITHIN THE ALLOTTED TIME THAT WAS NECESSARY, WE THEN WERE CONTACTED BY A XXXX XXXX, A Senior Counselor FOR XXXX ( Cell:XXXX, Dir or Txt : XXXX T : XXXX xXXXX F : XXXX Email : XXXXXXXXXXXX | XXXX ) WE PAID {$3500.00} TO THIS PERSON TO HELP US REFINANCE/MODIFY OUR LOAN BECAUSE WE WERE PAYING 4.25 % INSTEAD OF 2 % THAT WE WERE TOLD I SHOULD BE AS A VETERAN. HE THEN IN TURN SUPPLIED US WITH " ATTORNEYS '' TO HELP US WITH THE MODIFICATION. THEY WERE : XXXX XXXX ( tel : ( XXXX ) XXXX x XXXX XXXXXXXXXXXX ) AND HER PARTNER XXXX XXXX XXXX ( XXXX ) XXXX x XXXX ( XXXXXXXXXXXX ) WE HAVE ALL THE DOCUMENTATION, EMAILS AND PROOF OF ALL CONTACT WITH THESE PEOPLE.THEY DID NOT REPRESENT US AT ALL!! WE FILED COMPLAINTS WITH THE DA 's OFFICES IN CO AND IN CA. WE HAVE ALL THE DOCUMENTATION.
OUR HOME WENT INTO FORECLOSER WITHOUT ANY HELP FROM THESE PEOPLE, WE FOUND OUT THAT THEY PRETENDED TO BE MY WIFE AND MYSELF WHEN PENNEY MAC TOLD US OF THE PHONE CALLS THEY RECEIVED FROM US DURING THE TIME WE WERE NOT ALLOWED TO CONTACT PENNEY MAC. PENNEY MAC WOULD NOT SUPPLY US WITH ANY PHONE RECORDS WHEN WE ASKED FOR THEM. XXXX HERE IN COLORADO TEL XXXX ( XXXXXXXXXXXX ) STOLE OUR HOME KNOWING THAT WE FILED A MORTGAGE FRAUD AND IDENTITY THEFT CHARGE AND REPORTED THESE PEOPLE TO OUR LOCAL DA OFFICE, WHO THEN IN TURN TOLD US TO CONTACT YOU. WE WANT OUR HOME BACK!!
THESE PEOPLE STOLE OUR MONEY AND THEN OUR HOME. XXXX KNEW OF THESE SCAMMERS AND STILL TOOK OUR HOME, WE DID N'T HAVE A CHANCE TO GET THIS RESOLVED BEFORE WE WERE FORCED TO LEAVE. MY WIFE AND I LOST OVER {$100000.00} OF SUPPLIES, STORAGE, AND TOOLS, RENOVATIONS FOR MY WIFE 'S XXXX TOTALED IN EXCESS OF {$75000.00}. PLUS OTHER MODIFICATIONS WE DID ON THE HOUSE XXXX WE LOST OVER {$100000.00} OF EQUITY IN THE HOME.
WE HOPE YOU CAN RECTIFY THIS LOSS BY GETTING THESE PEOPLE TO REIMBURSE US THE MONEY THEY STOLE AND OUR HOME. MY CREDIT IS TRASHED BECAUSE OF WHAT THESE PEOPLE DID. WE CAN NOT BUY ANOTHER HOME FOR 3 YEARS AND MY WIFE IS XXXX AND RENTING A HOUSE HERE IS TOO EXPENSIVE.AND IS GOING UP BY {$1000.00} PER MONTH XX/XX/XXXX. WE HAVE ALSO BEEN TOLD THAT WE STAND A GOOD CHANCE OF GETTING OUR HOME BACK AS WE WERE VICTIMS OF FRAUDULENT ACT, WE CAN NOT AFFORD AN ATTORNEY AND CALLING COLORADO LEGAL SERVICES HAS GOTTEN US NOWHERE..
PLEASE HELP US, AS MY WIFE 'S HEALTH IF FAILING.
WE WANT OUR HOME BACK!!
PLEASE HELP US.
YOU MAY CONTACT MY WIFE ON XXXX OR ME XXXX.
MY WIFE CAN GIVE YOU ANY FURTHER INFORMATION YOU MAY NEED.
THANK YOU XXXX AND XXXX XXXX
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| 10/13/2022 |
Yes |
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- Trouble during payment process
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Web |
Older American, Servicemember |
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Made complaint XXXX XX/XX/XXXX on mortgage company XXXX has a service rating of exceptional poor or one star. There have been class action on their escrow service and failure to pay insurance.
My complaint logged XX/XX/XXXX about their escrow account reimbursing home owner insurance before a proper audit was conducted in XXXX. The reimbursement was sent to me in XXXX. Which then caused a shortage and a proposed increase on the mortgage payment from {$1300.00} to {$1500.00}. I paid my county taxes had sent the mortgage payment of XXXX for XXXX payment which they received. I called XX/XX/XXXX to tell them the county taxes were paid XXXX and that I was dropping the mortgage to just mortgage and principal which comes to {$1000.00} for XX/XX/XXXX. I was told that there was a minus XXXX on the escrow account which didnt make sense seeing that the payment coupon sent for XXXX didnt not show a negative balance but a balance ( XXXX ).
I had a heated exchange with the company and stated that there was no way it was short especially have the recent they received. The stated it is in suspension balance because the payment of XXXX wasnt received and that a late payment will be applied after the XXXX of XX/XX/XXXX.
I was told until the escrow account is on a positive balance then it will sit in suspension even after they had received the XXXX payment. I had given them the county tax account number XXXX and receipt number XXXX to show the taxes were paid.
I didnt enter into a mortgage agreement with Pennymac it was assumed shortly after XXXX XXXX signed it with me. My first dealings was XXXX of last year with Pennymac by constant phone calls which I dont take because of my XXXX issues. I finally relented and called to see why the were calling and blowing up my phone. They stated that my mortgage payment had gone up in XX/XX/XXXX and that it was sitting in suspension and wanted almost a XXXX dollars increase to the payment. They said that they would take it over the phone to make the payment current. I asked for the address and asked why I had not been notified in writing, they stated all correspondence had been sent back. I told them I had not sent it back then asked for the address for which the sent correspondence. It turned out it was my physical address which I dont receive mail at but all correspondence goes to a XXXX XXXX XXXX I sent them a check for the amount requested but they still made a 30 late payment on the credit report even tho I have my bank electronically transfer money from my account and check mailed to their address. Now this mess again and I dont trust their accounting seeing it was their improper audit that screwed up the escrow account.
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| 03/24/2015 |
Yes |
- Mortgage
- Conventional fixed mortgage
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- Loan servicing, payments, escrow account
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Web |
Older American |
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The mortgage lender, Pennymac Loan Services LLC has taken the following steps to ensure that they can file for foreclosure against me:1. They paid past due taxes on the property, to open up an escrow account and increase my mortgage. This was unnecessary, as the home was not under any tax lien, nor in danger of any tax liens with the city of XXXX, NJ. I was making payments quarterly to the city of XXXX. The city was aware that I was behind the taxes and only required me to pay a certain amount before the end of the year, to stay out of danger of a tax lien. I was ready to pay the requested tax amount to the city of XXXX, but the mortgage company intervened, requesting the past due tax in full or no payment at all.
2. After paying the tax bill, that they did not need to pay, the lender opened an Escrow account, to cover the taxes. The lender subsequently increased my mortgage payments from {$1600.00} to {$3200.00} per month.
3. The lender made the payment on the taxes on XXXX/XXXX/XX/XX/XXXX, but retroactively increased the past due mortgage payment for the month of XXXX/XXXXXX/XX/XXXX from {$1600.00} to {$3200.00} and retroactively increased the past due mortgage payment for the month of XXXX/XXXXXX/XX/XXXX from {$1600.00} to {$3200.00}. How can the mortgage owed for the month of XXXX/XXXX/XX/XX/XXXX and XXXX/XXXX/XX/XX/XXXX increase when the Escrow account was opened after these dates? What is to prevent the lender from retroactively increasing the mortgage payments for all the months of the entire year of XX/XX/XXXX or previous years?
4. The payment that I sent to cover the XXXX/XXXX/XX/XX/XXXX and XXXX/XXXXXX/XX/XXXX was only applied to XXXX/XXXXXX/XX/XXXX. The mortgage lender increased the past due amount of XXXX/XXXX/XX/XX/XXXX from {$1600.00} to {$3200.00}, after I sent my payment. I did not sent enough to cover the new past due amount for XXXX/XXXXXX/XX/XXXX. Instead of applying a partial payment to XXXX/XXXX/XX/XX/XXXX the mortgage lender applied all the money left from my payment to the Escrow account, without my knowledge. By doing this the lender put me over XXXX days delinquent on the loan.
5. It is now XXXX XXXX, XX/XX/XXXX and I have not received my statement for the month of XXXX XX/XX/XXXX The lender does not send mortgage statements in a timely manner. I fear if I make a payment for the incorrect amount, it will be applied to the Escrow account, instead of the mortgage, which will place me further behind on my mortgage payments.
6. I am a XXXX, female, senior citizen and I believe the mortgage lender is targeting me because I am in a vulnerable position and I can not afford to defend myself against their predatory methods.
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| 09/28/2016 |
Yes |
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- Loan servicing, payments, escrow account
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Web |
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Currently trying to resolve a property claims issue with Pennymac that has been ongoing for 28 days with absolutely no response from them or resolution. Our home was involved in a Natural Disaster in XXXX 2016. We are currently at a stand still on our home repairs and have leaking roofs that continue to get worse due to the lack of response and resolution from Pennymac Loss Draft Department. After 15+ phone calls to them for a release of additional insurance funds to move forward on to the final step of roof repairs for our property I continue to get the same response that a request to release another XXXX of the funds has been submitted and will take XXXX5 business days for a response. To date every phone call ends the same way with the Rep indicating they do not see where the request was submitted and they would send the request and I would receive a phone call within XXXX-48 hours. Still no phone calls from Pennymac at all and no closer to a resolution. I continue to be told their process is to release funds at XXXX at a time after inspections. However, I have explained every time that the XXXX process does not work for my property loss and repairs. I have explained to them over and over to look at the Insurance itemized claim, it clearly shows I 'm at a stand still on repairs. To even get to the next step in roof repairs it requires the majority of the remaining insurance funds to be disbursed. My primary damage was roof damage. House roof and damage has been repaired and next step is all the detached property repairs which is all metal roofing and XXXX body/piece of work. For some reason no one at Pennymac can understand what is needed and continues to not execute on any of my phone calls to date. I had to cancel a contractor today simply because I ca n't get anywhere with Pennymac. With every rain that comes while dealing with pennymac there is more damage to my property where the roofs continue to leak. This is absurd. We have insurance coverage and yet ca n't get my repairs complete. Will have more damage and I expect XXXX will be responsible. I have submitted all the documents Pennymac requested on each phone call but yet nothing has been done to assist. I have exhausted all efforts with Pennymac and asked to escalate today XXXX/XXXX/16. Spoke to an Escalation Rep who also provided the same information. Supposedly a request for the needed funds was submitted today, however, the request is only as good as XXXX. approval for the release. At this point I will submit a complaint with Regulatory from every XXXX available for assistance. I hate to think how many other XXXX XXXX are, or have gone through this with Pennymac.
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| 06/12/2019 |
Yes |
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
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Dear CFPB, In XX/XX/XXXX I was solicited to refinance my home located in XXXX XXXX while I resided in Hawaii working for my employer. My home was being rented out. I was advised by the Pennymac loan officer to finance it as an investment property. I stated I had already considered refinancing because we wanted to purchase a home in Hawaii as our primary residence with a VA Loan. I was told if I followed through with the refinance I would be able to secure another mortgage as a primary residence with my husbands VA entitlement benefits. I verified this MORE than once. I explained how important it was that we were able to buy another home that I had a baby on the way. When we went to purchase another home we found out that was not true. We would have to refinance yet again our home as a conventional loan for an investment property. I can not explain how expensive the misleading information I received has been. Rent in Hawaii was {$5600.00} a month for our 2 bedroom apartment. When my youngest son was born and our family outgrew our apartment and we couldnt afford to refinance again to buy a third home we were faced with relocating. I am now trying to buy a home as our primary residence in XXXX XXXX and the amount that was added to our home makes the loan to value too high for a conventional refinance. I also reached out in the process of trying to refinance our current loan I had let the payment stretch to the max in hopes the refinance would be done and the loan would be paid. In setting up autopay through our bank. I confirmed with Pennymac and XXXX that they could transfer the payment within 1 day to avoid a 30 day late. As soon as I figured out our refinance would not go through in time. I called to arrange the payment and when it wasnt received I received no call. They had no problem calling me every day when it was late but after I called let them know I had made the payment I received no confirmation. The moment I found out it wasnt received I paid it directly. The inability to refinance my current loan and The 30 day late being reported from XX/XX/XXXX is keeping me from qualifying to refinance it on my own. Its outrageous that the deception from Pennymacs agent in XX/XX/XXXX is continuing to hurt my family. I previously reached out to management and was told they listened to recorded calls and didnt hear the agent provide inaccurate and intentionally misleading information. When I asked for a copy of the calls they refused to provide them in writing or by recording. The funds it cost to refinance and the additional interest should be reviewed.
XXXX XXXX XXXX Property Address XXXX XXXX XXXX XXXX XXXX XXXX NV XXXX
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| 07/21/2016 |
Yes |
- Mortgage
- Conventional fixed mortgage
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- Loan servicing, payments, escrow account
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Web |
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XXXX XXXX XXXX XXXX, XXXX XXXX XXXX XXXX XXXX XXXX, CA XXXX XXXX XXXX, XXXX XXXX : Request for investigation to correct my Credit Report Penny Mac USA Loan # XXXX To whom it may concern : Two years ago I borrowed money from Penny Mac USA as a Co-Borrow. Last week I discovered that during the last 24 months, payments were not made timely and several payments had not been made at all.
On XXXX XXXX, XXXX I was denied a home equity loan with XXXX XXXX. That was a Red Flag to me as I " have not '' been denied a loan in the last 25 years.
As a XXXX I have spent my entire life protecting my credit. ( EXHIBIT A - See attached XXXX FICO score from XX/XX/XXXX at which time it was XXXX ) This has been hanging in my office for nearly XXXX years.
I pulled my XXXX credit report. ( EXHIBIT B - See Attached ) Note that every debt without exception says NEVER LATE, with XXXX exception - Penny Mac USA.
On Friday XXXX XXXX I immediately mailed a Cashier 's Check in the amount of {$7000.00} to bring this loan current. ( EXHIBIT C - see attached ) In the banking industry when a loan is delinquent or past due, " Best Practices '' would dictate notifying all " Co-borrowers '' if the situation was not immediately resolved by the primary borrower.
According to the Bureau of Consumer Financial Protection, Regulation X, 7. Early Intervention with delinquent borrowers ( XXXX RESPA Servicing Final Rule. ) " Servicers must establish or make good faith efforts to establish live contact with borrowers by the 36th day of their delinquency and promptly inform such borrowers, where appropriate, that loss mitigation options may be available. '' Please note that this final rule does not say only contact with the primary borrower, it says " borrowers ''. Plural - BORROWERS The purpose of this letter is to inform you that I consider PennyMacUSA 's servicing ( handling ) of the above referenced loan has been GROSSLY NEGLIGENT PennyMacUSA " NEVER ONCE '' contacted me as the co-borrower regarding any late or delinquent payments. Not one phone call, Email or letter was ever sent to me, yet the delinquency was continuously unfairly reported to the credit agencies.
I have made multiple ( seven phone calls ) to PennyMacUSA and they tell me they MAY have a policy ( protocol ) issue as it relates to contacting co-borrows but say they can do nothing to help me fix this situation.
I am not sure what can be done at this point to my credit, but anything that I can do to assist you in helping me restore my credit would be greatly appreciated.
Please feel free to call me on my Mobile ( XXXX ) XXXX.
Sincerely, XXXX XXXX XXXX XXXX XXXX, XXXX ( XXXX )
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| 12/28/2016 |
Yes |
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- Loan modification,collection,foreclosure
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|
Web |
Servicemember |
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We submitted a complaint to the CFPB on or around XXXX XXXX, 2016. Case number : XXXX, regarding an issue with trying to get approved for a deed in lieu through our mortgage lender Penny Mac. We received a reply from the CFPB with the response from Penny Mac. The information that Penny Mac provided as proof of their resolution is fraudulent, as all of the information pertains to another customers loan and loss mitigation. None of the information pertains to our loan or our complaint with regards to our dissatisfaction with our loss mitigation process. I contacted XXXX who is the complaint specialist at PennyMac, on XXXX XXXX, as I wanted to speak with her about the inaccurate information on our complaint, and have not heard back from her as of XXXX XXXX. We did receive an email from Penny Mac on XXXX XXXX that the appraisal is approved, and received a call from XXXX XXXX our loan specialist on XXXX XXXX, telling us we were approved for either short sale or deed in lieu, and that once submitted, we would have an answer within 10 days. We had a buyer who submitted an offer in XXXX of 2016, but due to the lack of progression with Penny Mac, and lack of response, the buyer decided to withdraw their offer. We contacted Penny Mac on XXXX XXXX, letting them know we would like to go ahead and proceed with the deed in lieu. On XXXX XXXX, I received word ( after submitting a signed Deed In Lieu incomplete Package letter, that we now are in attorney review for the title, however again as we were told in the first week of XXXX 2016, the 10 day period would not start until our package was completed, and we were not given a time frame as to how long this review period might take. the last review period with the underwriter, we were told we did n't have a completed package, and had no progression, until after we submitted a complaint with the CFPB. We are not financially in a position where we can continue to pay both our rent ( which our entire XXXX is coming out to pay as we are living on base ) as well as our {$2100.00} a month mortgage, which we are using up our savings to pay. We also are continuing to pay the utilities on the home in NJ, as Penny Mac requires it to be in good condition at the time of closing. We are tired of getting the same robotic answer, which is n't even an answer, and are extremely afraid that this next " review '' period will again continue to take months. Also our other major complaint is that the CFPB was lied to with regards to our previous complaint, and that the information provided to the CFPB was factually inaccurate and did n't even pertain to our loan or loss mitigation request.
|
| 09/15/2021 |
Yes |
- Debt collection
- Mortgage debt
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- Attempts to collect debt not owed
- Debt is not yours
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Web |
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Dear CFPB, Please find my complaint against XXXX XXXX for deceptive business practices. I submitted my Complaint regarding home owners insurance policy which was paid by some Third Party Payment Services who acted on behalf of some Mortgage Company.
The amount of payment was not matching my " escrow records '' prepared by XXXX XXXX XXXX XXXX This payment lacked ANY information who is Third Party Payment Services and why they have access to my escrow account.
I asked XXXX XXXX XXXX agent, XXXX XXXX, to disclose corporate identity of Third Party Payment Services ; their contact information and the name of the agent who sent this payment on behalf of some " mortgage Company ''.
But I received an electronically signed letter from purportedly XXXX 's employee XXXX XXXX, without a last name, without any contact information, no address, no phone - who informed me that everything was done by some system who does all adjustments and who automatically sends payments. ( and letters as well ) XXXX XXXX did not answered my questions re Third Party Payment Service corporate identity and referred me back to you if I have further questions- which I do.
I still waiting for XXXX XXXX to provide me information who is this Third Party Payment Services company and that is their corporate name, contact information ( address, phone number, email ) and the name of their agent who sent this payment.
XXXX XXXX said that the payment was made by my faux " mortgagee '' PennyMac.
This is not true. The payment came from som
e Third Party Payment Services who was acting on behalf of some Mortgage Company. No references to PennyMac at all. I clearly asked many times why this payment was made by some Third Party and for
corporate identity and contact information for this party.
Now I have a robo-signer XXXX XXXX I am not sure if this is her real name since anyone can put electronic signature on the letter which is coming from nowhere. ( po box is not the address, this is a box at the local post office where somebody who does not want to be recognized picks up mail ) who tried to mislead me about who made the payments - while conceal from me her own information.
So, I ask XXXX XXXX again, please provide me corporate identity for Third Party Company who made the payment, their contact formation, their phone number and email and the name of their agent who was authorized by PennyMac ( or someone else ) to make this payments Please provide me full name for XXXX XXXX employee XXXX XXXX, and her real address and phone number, so I can stop by at her office and talk about this matter in person.
Best regards XXXX XXXX
|
| 02/15/2022 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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My monthly payment amount went up because the escrow amount increased, and I was not aware of the increase. I am concerned about the insufficient notice I received from my mortgage company about both the rate increase and, more egregiously, the fact that my account was delinquent.
Today is XXXX XXXXXXXX XXXX Today is the first time I learned that my account is deficient. I learned this through two letters that the mortgage company sent to my home address, which I received today. I believe they have called my cell phone numerous times, but the messages are XXXX XXXX that do not put me on notice that there is a problem with my mortgage. In fact, they don't even identify the caller. This is a transcript of the entire call I received today, " Please return our call at XXXX between the hours of XXXX XXXX and XXXX XXXX XXXX XXXX through XXXX or XXXX to XXXX XXXX XXXX on XXXX. We look forward to speaking with you soon. '' It does not identify the caller as PennyMac. It does not say I missed a mortgage payment ( or a partial payment ). It's not a real person, who identifies me by name and says there is a problem on my account. Instead, it's an automated message merely asking me to call back an XXXX number for ... an unknown reason. I thought this was SPAM. I get similar calls about student loans and car warranties ( that I don't have ) routinely. I have received other calls that I now assume were also from PennyMac, but I thought those robocalls were SPAM and did not return those calls either. A generic robocall does not suffice as notice that a consumer 's mortgage payment is past due.
Through a series of telephone calls today, I have learned that PennyMac sent me an email months ago telling me that the escrow analysis was ready to download. I did not see this email because PennyMac sends me so many marketing emails ( there are XXXX in my in-box right now from XXXX alone -- and that's just what I haven't deleted ) that I thought this was another marketing email and did not open it. I therefore did not download the escrow analysis and had no idea my payment amount had increased.
PennyMac should do better. They either have the ability to tell when consumers have downloaded account documents or they could have that ability if they chose to ( to know whether consumers have received actual notice of critical account changes ). They certainly have the ability to contact consumers to let them know if their accounts are overdue. A XXXX is not notice.
PennyMac reported the delinquent XXXX payment to the credit bureaus. This will affect my ability to obtain credit, including future mortgages.
|
| 08/16/2022 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Problem with a credit reporting company's investigation into an existing problem
- Investigation took more than 30 days
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|
Web |
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We have TWO loans with PennyMac and there seems to be some confusion on their servicing platform for some reason in properly servicing both loans.
The loan that I am having issues with is loan # XXXX - Property located at XXXX XXXX XXXX XXXX in XXXX, CA.
In XXXX 2022, I set this loan and our primary home ( Loan # XXXX ) as well as the problem loan in question Loan # XXXX. The auto pay was properly processed for loan # ending in XXXX but was not processed for loan # ending in XXXX. I noticed the issue and called PennyMac and made a double payment on XX/XX/XXXXXXXX 2022 for the XX/XX/XXXX payment as well as the XX/XX/XXXX payment. I told the representative that I set both of these loans on autopay and she reassured me that she has resolved the issue and that in XXXX, my next payment for loan # XXXX would be drafted automatically from the bank.
Needless to say, they never processed the XX/XX/XXXX payment properly. They did make XXXX attempts to debit my XXXX Checking account ( XXXX ) on XX/XX/XXXX. I had over {$130000.00} in my account and they did not properly process the mortgage payment in the amount of {$4000.00}.
Unfortunatly, this time I caught there error in mid XXXX and called and made ANOTHER double payment as I did back on XX/XX/XXXX 2022 for the XXXX and XX/XX/XXXX2022 payments for loan # XXXX. They reassured me that they would not report me late and there would be no negative credit reporting regarding this issue. In fact, the late payment fees were even waived.
I am currently trying to purchase a home and they are reporting me late on my credit report and my XXXX has dropped.
They have been very cryptic, but they leep on citing the issue being the mix up with the other loan I have. Earlier this summer, they failed to pay my homeowners insurance renewals and they kept on saying that they got it mixed up with the loan on my primary residence. I have an impound account BUT I had to come out of pocket and pay my insurance myself when they were supposed to have done so themselves. They seem to be citing the same mix up on the auto pay.
I finally got the case escalatted to a person named XXXX XXXX and she called me on Monday XX/XX/XXXX and said that she was correcting the late payment but then i discovered that she was still referencing the wrong loan number again.
I am attaching the mortgage statements to document the payment history as well as my XXXX checking account statement to show that PennyMac attempted to debit the XX/XX/XXXX payment on XX/XX/XXXX from my checking account but in the amount of {$0.00}.
I am also providing you witha copy of my credit report.
|
| 09/28/2016 |
Yes |
- Mortgage
- Conventional fixed mortgage
|
- Loan servicing, payments, escrow account
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|
Web |
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I have a mortgage with PennyMac Loan Services LLC. My payment was originally {$750.00} for a {$100000.00} 30 year fixed rate loan at a interest rate of 4.5 %. After my first year at the house I received an annual escrow account letter stating that they had calculated wrong and were putting more in my escrow account than was necessary. They gave me a refund of {$1000.00} and told me my new monthly payment would be {$650.00}. I continued to pay my loan, on-time, for the next year. Since buying my home I have never been late for a payment and always rounded up and paid more than the minimum monthly amount. I always fax the company my tax bill when I receive it to ensure they have the information they need as well as my homeowner 's insurance. I received the tax bill this year and did just that. A few months after faxing the tax bill I get a delinquent notice saying my taxes have not been paid and I owed a late fee. So I called Penny Mac and they informed me it was their error and they did n't pay it. They said they would pay the bill and the late fee and the late fee would not go towards my bill as it was their fault. Later on this year I received another annual escrow account letter from PennyMac. They informed me that there was not enough in my escrow account, that I owed them {$4000.00} and a new payment of {$800.00} a month OR they could disperse the {$4000.00} payment and I could pay {$1100.00} a month. I was shocked and called the company assuming another error had occurred. They told me that somehow they forgot to put enough in my escrow account for taxes so they paid the bill and that 's why I owed them {$4000.00} plus my payment was going up. I told them this was unacceptable, that I could not pay a {$4000.00} out of pocket and that upping my payment from {$650.00} to {$1100.00} because of their error was unacceptable. The best they could do after being completely insistent was to spread the {$4000.00} out over 24 months and my monthly payment would be {$880.00}. They then told me I should call them when I receive a tax bill, not fax it, and wait on the line for a person and confirm with them that they have the tax bill. I can not believe this company and its errors. This dramatic difference in payment could be the difference for someone being able to afford to stay in their home or not, it could affect their decision to have a child or not, to take on a roommate or not, or take a trip, go back to school, etc. This company is so error-ridden and expects you to just handle whatever bill they recalculate after their errors. I am incredibly disturbed that they handle my mortgage.
|
| 02/16/2017 |
Yes |
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- Loan servicing, payments, escrow account
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Web |
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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.
|
| 11/12/2021 |
Yes |
|
- Struggling to pay mortgage
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|
Web |
Servicemember |
|
Pennymac accepted a forbearance on my fathers estate in XXXX. He died and left me his home in XXXX that he financed thru a VA loan. I have been the making payments for over 5 years now. I missed a few payments during the covid outbreak after requesting forbearance due to the pandemic hardship. I am the successor in interest and requested a forbearance in the spring of XXXX. Pennymac has been repeatedly demanded a quit claim deed on the property. I talked to the court clerk and they said that document in Oklahoma is not worth the paper it is written on. It it used for the private sale of property and is not used in probate or estate administration and she was puzzled as to why they would request the document at all. Since my father is the only person who can legally sign that document and he is deceased, it is an impossible task. I have started a full probate but they seem unwilling to wait for the correct and legal way to administrate the property. They have never offered me a modification plan even though I have requested it dozens of times over he past year and a half. Early last year while on the phone with Pennymac 's own lawyers who said a quit claim deed was not needed to start a modification because there is a successor in interest form filed with Pennymac and the very fact they were on the phone and discussing the note with me is more than enough for a modification to start. I have sent them all the paperwork on the probate and I was told I should not worry and Pennymac was not going to start foreclosure proceedings. Well they have sent me paperwork saying they were going to foreclose and demanding the full sum several times now. I keep getting calls about the past due and no mention of modification. They have turned down the modification twice due to not receiving a quit claim deed. Like I described earlier, that is impossible to get without going to probate court and they know there is a court date scheduled for XX/XX/XXXX. Nothing can be done until then. I just want a modification plan so I will quit getting calls and letters saying they are going to take the property. I am able to make payments now and have not missed any payments since the few months of forbearance in XXXX nor did I miss any before. I have also been paying more than my payment amount to catch up on the past due. I can not even make a payment online, I have to call on a weekday and talk to several people and spend about 45min to an hour on the phone. They have made it very hard to simply make the monthly payment. Please help me get a remedy to this nightmare.
Thank You XXXX XXXX XXXX.
|
| 01/06/2021 |
Yes |
|
- Trouble during payment process
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|
Web |
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|
I make my mortgage payment via phone call every month by the XXXX, after the XXXX a late fee is charged.
I called in XX/XX/2020 and spoke to a representative. I asked to make a payment and then hear detail about refinancing. I was told my payment was scheduled and then spent over an hour hearing about refinance options. The payment was not able to be lowered as much as another lender offered, so I declined the refinance option.
I received notice via phone a couple weeks later that I missed my XXXX payment. I told the representative I believed I had paid it, and beyond that PennyMac had just provided a payoff statement to the new lender I planned to refinance with. I asked if I should still make a payment of if this would affect my refinance. The representative said they did not know the answer to that question and would have to speak to their refinance department and get back to me. I never received follow up on this question.
I received a call from my new lender the following day stating PennyMac sent them an unprompted payoff statement noting I was 30 days late on my mortgage. They also notified the credit reporting bureaus. The new le nder notified me that I would not be eligible for refi anymore due to this. I immediately called PennyMac and explained the situation. The representative and supervisor I eventually spoke with were unwilling to help in any way. I asked for calls to be reviewed, for the refinance department to be contacted so the issue could be reviewed, and I offered to provide phone records which were declined. I have called PennyMac seve ral times over the last 3 weeks to request a letter stating there was an error when processing my XXXX payment. I could then provide this letter to my new lender and still be eligible for refinance. PennyMac is refusing to give any documentation stating such. After several attempts and my request being declined, I suggested that they place blame on me and call it a misunderstanding on my end. They were still unwilling to do that and have offered no recourse.
Each time I call I have spoken to a different representative, however they all have given the same statement once asked for a letter ; " This is so you can refinance with another company, right? '' I feel as though I am being blocked intentionally and discriminated against because they know I am trying to refinance elsewhere. I have never been late on a mortgage payment in the three years I have had a loan through PennyMac and we have always had good rapport. I would like to end our relationship on a positive note and be provided a letter as requested.
|
| 06/23/2021 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
|
- Problem with a credit reporting company's investigation into an existing problem
- Investigation took more than 30 days
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|
Web |
|
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I have been a loyal customer of PennyMac since XXXX. when we purchased our first home and even re-finance our loan with them first time around in XXXX.
Back in XXXX we wanted to take advantage of the lower rates and apply with PennyMac again to refinance our loan, only to be denied. ( we have never been denied credit before ). We went ahead and contacted another lender who was not only willing to work with us, but got us approved for a significant lower rate. Regardless of the hardship that Covid-19 imposed on most of us, we have never been behind our mortgage payments nor been behind them, ever, and we work hard on maintaining our credit between very good and excellent since our business depends on it. I'm a XXXX XXXX XXXX and every credit decision lenders, suppliers, and potential customers make are based mainly on my personal credit. After being told by my new lender that the new loan would close by the end of XXXX, I requested a off statement to confirm the amount my new lender was telling me on XX/XX/XXXX. That amount included all taxes, interest and principal owed till XX/XX/XXXX. For reasons beyond my control, the pay-off to PennyMac was effective on XX/XX/XXXX for the full loan amount, but to my surprise, PennyMac has reported me to the credit bureau the day before, Sunday XX/XX/XXXX for Late Payment, impacting my credit score tremendously. The same Monday XX/XX/XXXX I contacted PennyMac to inquire about this misunderstanding, and after an hour on the phone, PennyMac stated they will contact the credit bureaus via letter and copy me to have the issue corrected. After not receiving any letter from PennyMac nor seeing any improvement in my credit, I contacted PennyMac again today to inquire on the status of the letter and the removal of the negative reporting only to be told that more information was needed from the 3rd party first to remove the derogatory mark ( without ever notifying me what was needed nor when ) and later on after 35 minutes waiting for a " supervisor '', I was rudely told that she can't lie to the credit bureaus and the derogatory mark can not be changed. ( even after 7 years of loyal exceptional payment history ) After contacting experian and equifax, I'm reaching out to you to help us in this uncomfortable and very unfair situation I've been placed on.
I'm a hard-working person that has several families depending on our small business and I don't believe this multi-billion company, PennyMac that is, or its " customer service '' reps understand the magnitude of the impact a simple wrong reporting could cause.
Thank you in advance.
|
| 09/21/2016 |
Yes |
|
- Loan modification,collection,foreclosure
|
|
Web |
|
|
XXXX/XXXX/2016 From : XXXX XXXX XXXX XXXX XXXX XXXX NJ XXXX Dear cfpb, I am writing to let you know that a few years ago my wife and I lost our jobs and because of the loss of income we suffered falling behind on our mortgage payments. Because of this we could not attend to any modification and or any program since our companies for work did not have any work for us. We had attempted over and over since then to get a modification or some program recently to start to pay the mortgage because we have our jobs back and between us all at home are making just over {$8000.00} a month. however, penny mac loan servicing has a number of times denied us because they have stated that they can not help us. I have called them many times and every time they give me different excuses as to why the they can not help us. For example, they state that we do n't make enough, then they stated that they did not receive proof of income, then another time stated that they received all the proof of income but there is nothing they can do. They my case to home saver program new jersey housing and mortgage finance agency, where I spent 2 months attempting to get help funds to save our home to be told by them that they denied our application and did not even said why. They had informed penny mac of the denial and stated to me when I called that I could appeal on both ends the home saver program and penny mac. I did just that XX/XX/2016 and never received a response from the home saver program and penny mac told me that whoever I spoke to at penny mac failed to tell me to send them proof of income and that I should send the proof immediately which I did. A week went by and I called them and they told me that the underwriter closed my case because of not sufficient income every month and that I needed over $ XXXX month. I explained to them that collectively my wife, myself and my son are bringing in the home over $ XXXX a month.
I feel I have been discriminated upon as penny mac did not ever give me a proper instruction to apply for mortgage assistance. I have sent letters and called them desperately seeking assistance. Once again we are making money and have our jobs and willing to start paying a mortgage. We do n't want to lose our home. We want a fair chance at saving our home. They wo n't even tell us the proper steps to a short sale which I have inquired about. I make this complaint because I do n't think it is fair that we are now recovered with respect to having jobs and are not given a chance to keep our home. Thank you. XXXX XXXX XXXX . Loan # XXXX Penny mac loan servicing XXXX.
|
| 08/06/2019 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
Servicemember |
|
In XXXX, I had called to ask about the process for removing PMI from our mortgage. In response, they sent a letter stating we would need to meet the 80 % LTV - which we knew, just wanted the process. We still had half a year before getting to the 80 % mark,XX/XX/XXXX.
I called PennyMac at the beginning of XX/XX/XXXX to request removal of the mortgage insurance ( MI ) from our loan. I was told, per the documents I signed that it wouldn't be removed until some year in the future ( I do not remember what year but something like XXXX ). It couldn't be removed because it was an investment property. I asked where they got this date and they said on the MI disclosure we signed - I asked for a copy of the MI disclosure. The copy they provided actually showed XX/XX/XXXX which is what we had signed at settlement. No idea where their XXXX? date came from.
On XX/XX/XXXX I officially requested in writing ( via their secure messaging system XXXX removal of the PMI associated with our loan. I provided a copy of the MI disclosure document that specifically states the date MI can be removed and that states this was not a high risk mortgage and that the above guidance applied. There are no other loan documents that modify the MI disclosure document. Additionally, the ability to remove MI at the 80 % point was material in our decision on proceeding with the subject loan. We would likely have made very different loan decisions as it impacts our bottom line.
The response we received from PennyMac was " Unfortunately, the MI disclosure is a generic disclosure for primary residence. In your case, your property is an Investment property based on your loan application. After receiving your request for information on PMI deletion, I submitted a request for PMI deletion based on original value. Unfortunately, your loan does not qualify at this time, as your LTV must be below 65 %. You will receive a letter in the mail that will recap the above information. Presently your LTV is 79.90 %. ... '' The document may be " generic '' but that should not relieve its applicability if used. If a different disclosure for investment properties should have been used, that is not our error. We went into the mortgage contract in good faith and we were not the writers of the documents.Additionally, we even requested confirmation of the MI removal when we received the initial loan documents for review prior to settlement. It was verbally confirmed the MI would be removed at the 80 % LTV point.
The attached file is what we provided to PennyMac via their secure messaging center on XX/XX/XXXX.
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| 09/21/2021 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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On XX/XX/2021, I contacted PennyMac ( my mortgage servicer ) to inquire about when my private mortgage insurance ( PMI ) would be AUTOMATICALLY cancelled. I was routed to a Senior Mortgage Specialist who asserted that my PMI would NEVER be automatically cancelled, no matter how long I waited or how many payments I made. If this is true, then PennyMac is in violation of the Homeowners Protection Act.
During the call, I located my original mortgage paperwork, which specified that the automatic termination date is XX/XX/2021, when my principal balance was originally scheduled to reach 78 % of the property value ( it's actually already reached this threshold, but I understand that doesn't trigger PMI cancellation ). If what the PennyMac representative asserted is true, this also means that they are engaging in unfair and deceptive practices by not honoring the terms of the loan I signed up for.
The PennyMac representative was extremely rude and condescending. She kept reiterating that I needed to pay for a brokers ' price opinion ( BPO ) to verify the value of my home, which is only true if I want to request cancellation of my PMI BEFORE the scheduled date of automatic cancellation. Despite my attempts to explain to her that I was not asking about cancelling my PMI now or requesting early termination, I only wanted to validate the date of automatic cancellation, she insisted that I was not eligible for automatic cancellation at any point over the life of the loan. She said that " every loan is different, '' and some loans are eligible for automatic termination while others are not. This is generally false, as only a small percentage of loans are not eligible for automatic PMI termination ( FHA loans, those at a high risk of default ) and, when that applies, it is disclosed UP FRONT when the buyer is signing the mortgage.
The PennyMac representative declined my multiple requests to speak to someone else at the company, because she said they would tell me the same thing as her. Additionally, when I explained that I had spoken with PennyMac representatives several times in the past about automatic termination of PMI, she asserted that this was untrue. I told her that, based on the interaction with her, I plan to refinance and take my business elsewhere. Her response was that PennyMac would probably just " buy your loan back and you'd be back with us anyway. '' These threats and accusations of lying amount to abusive acts on behalf of PennyMac. This representative 's treatment of a customer in good standing is absolutely appalling and unacceptable.
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| 03/27/2020 |
Yes |
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- Struggling to pay mortgage
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Web |
Servicemember |
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My house was originally for sale, and myself and the buyer were supposed to close on XX/XX/2020. The deal fell through because of my buyers financing.
I called PennyMacUSA to inform them of what happened, and to express to them that I have every intent on paying them what I owed ; Although I was still planning on selling my home.
I spoke with a young lady by the name of XXXX XXXX, and she informed me that I owed PennyMacUSA a total of {$5700.00} which included late charges and credit for partial payments. I told her that I did not have that kind of money on hand immediately but I could pay her a total of {$2500.00} right away to chip away at what I owed ; Leaving a total balance of {$3200.00}.
We looked into some options to keep my home from going into default. She stated that I qualified for a repayment plan, and that I would be receiving a letter to show the terms of the repayment plan. When I received the letter it stated that I would have to pay a monthly total of {$2800.00}, for a total of 4 months ( XXXX-XXXX ) ; With a final payment of {$2100.00} for the month of XXXX.
I called PennyMacUSA and asked them how did my monthly payments get so high when I only owed them a total of {$3200.00}? My monthly payments originally were only {$1200.00}? She told me that the extra money would be applied to my principal. She asked me did I agree to the terms and I said NO, that the terms were not fair. She said that I had until the end of XXXX to change my mind about the repayment plan. I stated that I would try to come up with what I owed on my own, before agreeing to those terms ; The call ended.
Now XXXX has rolled around, I paid off all of my other bills before I decided to deal with PennyMacUSA. I said to myself, " I will see what I have leftover, so that I can know what I need to borrow ''. When I checked my account, I noticed that PennyMacUSA had already deducted the normal payment amount out of my account. The only issue that I took with this, was that it was an unauthorized payment. When I spoke to an agent over the phone about this matter, she stated that I agreed to the repayment plan. I informed her that that was not a true statement, I remember clearly not agreeing to the terms. She repeated that I did, and that she had me on tape agreeing to the terms ; An argument ensued after that. I also still have the original repayment plan agreement that was sent, and that I never signed as well.
Overall I feel as if they were just looking to take my home, and they never really wanted to work with me on a repayment plan in the first place.
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| 04/10/2021 |
Yes |
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- Trouble during payment process
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Web |
Servicemember |
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PennyMac is overcharging me for my escrow. Pennymac has used Calendar Year XXXX Property Taxes to calculate my annual escrow amounts for XXXX. When using Calendar Year - PennyMac is using two different years- taking amounts from both XXXX and XXXX to calculate my XXXX escrow payments. The XXXX XXXX XXXX says that Mortgage companies typically use fiscal year - and PennyMac has always used Fiscal Year in the past to calculate my escrow amounts.
My Property Tax is broken into two payments ; For XXXX ( Total Tax = {$3000.00} ) XX/XX/XXXX XXXX for first half of calendar year XXXX ) = {$1300.00} XXXX XXXX XXXX for Second half of calendar year XXXX ) = {$1600.00} For XXXX ( Total Tax = {$3100.00} ) XX/XX/XXXX XXXX for first half of calendar year XXXX ) = {$1500.00} XXXX XXXX XXXX for Second half of calendar year XXXX ) = {$1500.00}.
PennyMac has take the second half of Calendar year XXXX and added it to the first half of XXXX - using two different tax years to calculate my escrow. They are also comparing it to a split XXXX year - and because the town did not split the annual tax proportionally - PennyMac is claiming that my property tax went up {$550.00} dollars - which is not true. The Town Clerk and Treasurer/Collector ( ( XXXX XXXX XXXX Option 2 ) told me they have never seen a mortgage company calculate escrow by bills paid annually rather that Fiscal Year. My property tax only increased by {$80.00}.
PennyMac is making me pay them {$1200.00} for a {$100.00} dollar annual increase Taxes and insurance. ( They have asked me to make payments of {$670.00} + {$280.00}, along with increasing my monthly escrow/mortgage payment by {$39.00} XXXX {$310.00} ). These additional payments are not justified.
My property tax did increase between XXXX and XXXX - and I calculate a {$40.00} shortage between what I paid in and what my taxes/insurance actually were. In XXXX, I will be paying into my escrow account {$1100.00} ( {$290.00} XXXX thru XXXX XXXX + {$2700.00} XXXX {$330.00} XXXX thru XXXX XXXX for a total annual escrow balance of {$3800.00}. My XXXX property tax has already been set by the town and it is {$3100.00}. My insurance is {$900.00}. I will be {$150.00} short.
PennyMac is making me pay {$1200.00}. With the shortages paid {$190.00} XXXX {$40.00} + XXXX ) ... ... PennyMac will be getting an additional {$1000.00} for escrow reserves, which is much more than they need.
PennyMac is only required to have 2 months in escrow reserves - which comes to {$670.00}.
Therefore, I would like the Escrow Reserve over payment {$400.00} returned to me.
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| 04/13/2023 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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XXXX ) On XXXX XX/XX/XXXX the lender took {$5500.00} from my escrow account and had the description as County Taxes.
XXXX ) I didn't notice the discrepancy until XX/XX/XXXX when I was checking on my property 's tax balance and found out that the actual tax amount was only {$1000.00} and that it is actually still unpaid.
XXXX ) I followed up immediately with the lender and after many email and call exchanges, I started getting responses that they confirmed with the county and county confirmed they paid it and it will update in a week or so.
XXXX ) In a week or so I check and nothing is updated. I call the county and they confirm there has been no communication from my lender regarding my property.
XXXX ) Realizing that I have consumed all reasonable routes with the lender and that if they do not fix it, the property tax will start accumulating interest and ultimately hurt my credit, I gave the lender a deadline. I gave the lender a final chance to do the right thing and pay the taxes or I will escalate and report them for financial fraud investigations.
XXXX ) On XX/XX/XXXX the lender paid the due taxes plus the accumulated interest for a total of {$1000.00} which I confirmed on the county records that they received the payment on XX/XX/XXXX. However, the lender still did not refund the {$5500.00} they took from my escrow account on XX/XX/XXXX.
XXXX ) I gave them sometime to adjust records and such and on XX/XX/XXXX, I following up again confirming that now I see my property taxes have been paid ( and they charged me another withdrawal for it from Escrow ) and asking them to make sure they refund the amount that they mistakenly withdrew earlier on XX/XX/XXXX from my account.
XXXX ) On XX/XX/XXXX the lender responds to my message saying that my account is now short in the amount of {$5500.00} ( which they have wrongfully withdrawn from my account and do not know where they spent it ), and that I have insufficient funds to male all the necessary payments for property taxes and insurance.
XXXX ) I followed up again on XX/XX/XXXX explaining the issue and again asking them to take care of it before XX/XX/XXXX or I will have to report them for financial fraud.
XXXX ) On XXXX XX/XX/XXXX I received a message from the lender apologizing for the inconvenience and asking me to check back again on XX/XX/XXXX.
Now it is XX/XX/XXXX, and I still have {$5500.00} that the lender took by mistake from my escrow account on XX/XX/XXXX and they are not showing any concern or real steps to refund it to date.
Your help is highly appreciated,
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| 09/22/2019 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
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- Incorrect information on your report
- Account status incorrect
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Web |
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I have reached out to PennyMac to let them know they were reporting incorrect payment for XX/XX/XXXX. They stated that they would update the credit bureaus to reflect no late payment for XX/XX/XXXX. I decided to check my reports due to an alert indicating PennyMac being reinvestigated, only to find out that PennyMac has made the dispute worst by continuously report incorrect information to both XXXX and XXXX. I contacted both agencies and this is what they said to me : " XXXX stated that they received an electronic notification back from PennyMac indicating a 30-day late payment for XX/XX/XXXX is correct. XXXX stated that they received an electronic notification from PennyMac indicating a 60-day late payment for XX/XX/XXXX is correct but they did not provide any actual or physical supporting documentation to support their claim but stating account has been 30 to 60 day late and verified payment for XXXX is correct. '' PennyMac has sent me documents to show that I was never late in XX/XX/XXXX, yet they are still reporting to the above credit bureaus that I am. I have sent those same documents to both credit bureaus to correct the XX/XX/XXXX payment to reflect Ok- paid as agreed. They will not change it because they said it's the creditor ( PennyMac ) responsibility to make the change. Per the Fair Credit Report Act, the creditor & credit bureau must report accurate and verifiable information. In this case, they both are clearly in violation of the FCRA Law and they have caused major damaged to my credit rating and score since XX/XX/XXXX to current.
Facts : Home was sold on XX/XX/XXXX and PennyMac received full payoff as of XX/XX/XXXX. So, how can I be 30 or 60 days late for XX/XX/XXXX when they received full payment on the loan with the documents attached. By the way, 30 days late does not start until XX/XX/XXXX, and loan was paid off on XXXX than 30 or 60 days late? The fact of the matter is, they are reporting incorrect lates against me for XX/XX/XXXX with XXXX and XXXX. If this is not corrected in a timely matter, I will be seeking legal counsel for damages.
Enclosures : XXXX Credit Report for PennyMac XXXX Credit Report for PennyMac PennyMac XX/XX/XXXX History to prove I was never late in XX/XX/XXXX Closing Disclosure dated XX/XX/XXXX from the sale of the home Escrow Refund Check dated XX/XX/XXXX P.S. How can I be 30 to 60 days late for XX/XX/XXXX when the loan closed on XX/XX/XXXX and the Cancellation Of Deed To Secure Debt dated XX/XX/XXXX does not constitute a late payment when PennyMac received all funds on XX/XX/XXXX.
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| 02/17/2016 |
Yes |
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- Loan servicing, payments, escrow account
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Web |
Older American |
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Below is a quote of a secure email I sent to Pennymac on their website " We have tried to reconcile some issues with Pennymac concerning our escrow account, we originally called on XXXX/XXXX/2016 at XXXX, I do not recall who we spoke with, but he or she told me they would contact the tax department and someone would call back.
On XXXX/XXXX/2016 I called again and spoke with XXXX and she indicated top me that she saw we had called, and she said it takes 10 business day for a reply to be generated - it would have been nice if the person that answered my first call would have said that, I would not have wasted my time calling Pennymac on XX/XX/XXXX as that was not 10 days from my original call.
On Wednesday XXXX called at about XXXX and left a number ( XXXX ) and extension # ( XXXX ) for me to call back. I tried to do so, but the extension we called went to voice mail and we never received a call back.
On XXXX/XXXX/2016 XXXX called me back and said that there had been no resolution noted, but she would call back when she heard something.
Today is XXXX/XXXX/2016 and so far as of XXXX we have heard nothing.
We now intend to file a complaint with Bureau of Consumer Financial Protection about the non-response from Pennymac about our concerns dealing with you about our escrow account.
We have gone into the XXXX County Treasurer and Tax Collector and they stated that the amount of taxes noted on our tax bill is true and correct and they stated that the amount you project for payment out of our escrow account is WRONG. Pennymac payed the first half of the total years tax in XX/XX/XXXX of {$1400.00} and the balance to be paid in XX/XX/XXXX should be the remaining balance of {$1400.00}. Yet you indicated on the account projections sheet that you are going to pay {$1600.00} in XXXX and the same amount in XXXX 2016.
You sent us a overage refund of {$360.00} on XXXX/XXXX/2016, we feel that overage should have been about {$360.00} more according to projected continued payment of escrow payments as of XXXX 2016 of XXXX, and yet you are increasing our escrow payment to {$320.00} an increase of {$5.00}.
I know from previous secure message email to you that it takes to 2 days to get a reply, I would suggest you reply ASAP if you can get this settled as the complaint to the Bureau of Consumer Protection will be dispatched this afternoon.
I find the non-response by Pennymac to our concerns about our escrow account an affront to my sensibilities and it seems that Pennymac has a truly inconsiderate and unresponsive consumer affairs department. ''
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| 08/30/2023 |
Yes |
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- Struggling to pay mortgage
- Trying to communicate with the company to fix an issue related to modification, forbearance, short sale, deed-in-lieu, bankruptcy, or foreclosure
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Web |
Servicemember |
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I applied for a mortgage loan modification in XX/XX/2023 and it was approved XX/XX/2023. During this time I was not informed the there would be credit and tax ramifications. After speaking to several different single point of contact representatives I was told about the negatives. I was informed that I should submit my credit report and ask for the late payments be removed. Then I was told by another representative that, thats what happens during the loan modification process. I submitted a dispute to each credit reporting agency informing them of this and nothing was changed. Calls are recorded so theres proof of what I was and was not told. Also during this process I would submit request documents and it would take a while before I would hear anything back or be informed anything additional was need. At this time they started sending letter with expected completion dates for next steps but with mail it would cause a delay. So I started to call weekly for updates and to see if anything additional was needed from me. One instance is that I have an XXXX XXXX fraud alert on all my credit reports. It wasnt told to me up front that a signed letter was needed from me stating that Im in the modification process and that Im requesting it. Shouldnt this have been something that was caught at the beginning of the process? Or when I submit my documents and time has elapsed the 60-90 days of my current LES are not acceptable because Im not in that window though my pay doesnt change. Each time this would happen it would set me back steps during the process. At the end I was approved for the modification but have 90 days of late payments due to the way my process was handled. I never received a call or spoke to the person that was assigned to my case. It was always another representative and some of the follow up due dates that were given in the letters were surpassed but now Im having to deal with the late payments for a process that should not have exceeded 3 months. Before this process I applied for refi. Hadnt heard anything. Would email, call and text the person assigned to my application and no response. I received a copy of the payoff request to Penny Mac from Penny Mac and assumed this were going accordingly. After some time I started calling the person assigned to my application and the numbers left from XXXX other people on her team. After weeks o finally got ahold of some and was told they tried to contact me to let me know I was not be able to continue the process. I received nothing other the the payoff request for the refi.
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| 06/25/2016 |
Yes |
- Mortgage
- Conventional fixed mortgage
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- Credit decision / Underwriting
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Web |
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Entered into a refinance transaction with PennyMac who currently holds my mortgage to get out of the current FHA loan and into a conventional loan and either remove or greatly reduce the mortgage insurance. Once the appraisal was completed, I reviewed and was shocked at where their appraiser came in at for the value. I work in the mortgage industry and have reviewed appraisals for 15+ years and knew the reconciliation was deeply flawed. Normally even though there is appraiser independence post mortgage melt down, a Lender 's internal appraisal department has the ability to review an appraisal and change the value used for lending if there are flaws in the appraisers result. PennyMac would not review and only sent my rebuttal to the appraiser who of course did not change his value conclusion and still did not provide justification for his value at the extreme low end of the market and his commentary actually supported the higher end of the market and his adjusted values for both closed sales and listings supported higher than his ultimate value. I even provided XXXX comps that were pending sales at the time of the report and also supported at least the middle of the value range if not the higher end. This is an issue for consumers especially with the resulting payment when compared with the fees and increase in principal at the end of the proposed transaction left no benefit of refinance. If I had not been in the industry I may have still proceeded with the transaction instead of cancelling as I did and been in a much worse position as the Rep never brought up the discussion on whether the new loan was still worth it with the much lower than anticipated value that left the LTV over 90 %. The only proposition brought up was to bring in {$4500.00} to pay down the principal to 90 % LTV which would lower the payment by less than {$100.00} so the money brought in would take at least 4 years to recoup and therefore makes no sense. I will attach a full breakdown of the assessment and flaws in the appraisal later in this process, but the lack of making sure the customer is put in the best position because not every appraisal will be acceptable while most are and the lack of guiding the consumer to the best situation for them financially is concerning if this were to happen to someone without industry knowledge or not financially savvy. It appeared they were just looking for a new transaction any way they could get it and if not they still held the servicing for the mortgage so either way PennyMac was set while the consumer was not.
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| 04/16/2015 |
Yes |
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- Loan servicing, payments, escrow account
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Web |
Servicemember |
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PennyMac has withheld funds for more than 60 days preventing us to have the insurance money ( XXXX XXXX ) to get our home repaired. They claim numerous times that there is missing paperwork, even though we have sent it by XXXX Mail ( XXXX ) as well as by fax. Each time we call to check on the 'status ' of our claim, we are told a different story by a different claims rep. For instance, when we called on Monday the XXXX of XXXX, we were told our endorsed checks had arrived and would take " up to XXXX hours '' to process. When we called back Wednesday the XXXX, we were told " The checks were not yet in the system and it could take 7-10 business days for them to clear ''. Each call is a different story with conflicting truths and timelines. We called five ( 5 ) days in a row asking to speak to a supervisor and was told each time, " You are on the XXXX hour call back list '', yet have not been called back ... not even once. We were informed that only XXXX of the funds would be disbursed at a time unless we submitted a request for 50 % release of funds, which we immediately did. Less than a week later we were told that " The Investors never approve more than XXXX. '' It is now more than 60 days since the XXXX check from our insurance company was issued to fix our leaky roof and still pennymac is holding that money hostage with lies and deceit.
We are in the midst of the " rainy season '' here in XXXX Arkansas, and each day brings more rain that flows through the roof into our home, onto the floors, subfloors, floor joists and foundation. The damage that is occurring is tremendous! We need a new roof ... now!
A roofer will not fix it for free with the promise of some mortgage company that the money will be sent XXXX day, and we do n't believe they should either.
Pennymac has dropped the ball in this case and is causing our home to become ruined with water, mold and rot. We want pennymac to fix the roof and all other damaged components to the home due to their neglect and willful withholding of insurance funds for repairs. We want pennymac to be fined for violation of section 6 of RESPA concerning timely payments of escrow accounts.We want pennymac to pay punitive damages for the stress, hardship and trouble they have visited upon us. We want compensation for pain and suffering. If the mold and nastiness caused by our leaky roof causes any sickness to our family, we ask pennymac be responsible for all hospital and loss of work due to illness. Pennymac should be penalized compensatory damages for their egregious conduct.
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| 12/20/2019 |
Yes |
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- Trouble during payment process
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Web |
Servicemember |
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On XX/XX/2019, I XXXX XXXX XXXX, Home Owner, spoke with XXXX XXXX, Loan Officer ( NMLS # XXXX ) with PennyMac about refinancing my home. Mr. XXXX started my loan application over the phone. During our phone conversation, I informed Mr. XXXX that I was a U.S. Veteran and would like to refinance with a zero down payment. I also requested that the monies in the Escrow account be forwarded/mailed to me at closing. This was discussed and clearly understood by both parties three times during our conversation. It was also annotated in the Settlement Statement.
Once Mr. XXXX obtained all my information, he forwarded me to his XXXX XXXX. Team to follow through with the refinance process. I received an email from the XXXX XXXX. Team on XX/XX/2019, informing me that the refinance had been approved. On XX/XX/2019, I received an email informing me that my closing was scheduled for XX/XX/2019, at XXXX XXXX CST. The time was rescheduled for XXXX. XXXX 's Mortgage payment was made to XXXX on XX/XX/2019, in the amount of {$2100.00}. I was further informed that I would need to bring {$530.00} to closing which is questioned because I believed through my conversation with Mr. XXXX, I would not need any money at closing. I informed Mr. XXXX of this issue and he said he would take care of it. However, when the representative arrived at my home, I still needed the closing cost. Mr. XXXX had not done what he said. I decided to comply and not hold up the refinance.
The documents presented to me at closing appeared to be correct so I signed them. The representative and I ensured that everything I was requesting was on the Settlement Statement. Per that statement, I was due to receive {$7500.00} from Escrow which I have not received to this date. I did receive a check for {$2100.00} which was XXXX 's mortgage payment due to the loan being closed.
To this date, All attempts to reach Mr. XXXX concerning the Escrow balance has failed. I have made at least eight ( 8 ) attempts since closing. I have been forwarded to many different people the last being XXXX XXXX on XX/XX/2019. I was informed that Mr. XXXX was Mr. XXXX 's XXXX. Mr. XXXX informed me that the Escrow amount was applied to the loan. I informed him that I did not request that and it was never apart of my conversation with Mr. XXXX. I informed him that I would like to have that money sent to me. Instead of granting my request, Mr. XXXX asked If I would like to revert back to the original loan prior to the refinance. I answered yes.
Thank you for considering my request.
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| 09/04/2015 |
Yes |
- Mortgage
- Conventional adjustable mortgage (ARM)
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- Loan modification,collection,foreclosure
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Web |
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We bought our house XX/XX/XXXX in benefit of our family. we have XXXX daughters and my older mother living with us. We purchased the home with a big down payment and using our savings to fix it. Due to the economy crisis I lost my job and my wife took over all responsibilities. I was sick and XXXX. XXXX owned my loan and we asked for help to modify my loan. I was approved for Loan Modification HAMP TPP TRIAL PROGRAM. XXXX TOLD ME TO CONTINUE MAKING MY PAYMENTS WITHOUT SKIPPING ANY PAYMENTS. I continued making my payments every month but they continue asking for the same documents over and over. every month I asked them when will I get my final approval the answer was they were waiting for another department to finalized the paperwork and they will send my final approval by mail. after a year XXXX TRANSFERRED OR SOLD MY LOAN TO PENNYMAC BANK without asking me or telling me anything. It was until maybe 2 months later when I received a letter from PENNYMAC BANK SAYING THAT THEY WERE MY NEW LENDER.
THIS IS A BREACH OF CONTRACT. PENNYMAC BANK SAID THEY COULDNT PROCESS MY PAYMENTS AND I HAVE TO START ALL OVER AGAIN!!!.
THEY SAID THEY COULD N'T HONOR MY PAYMENTS BECAUSE THEY DIDNT HAVE MY FILE. XXXX INTENTIONALLY SOLD THE LOAN TO PENNYMAC BANK AND NOW THEY DO N'T WANT TO PROCESS THE LOAN MODIFICATION. AFTER ALL We continue communicating with PENNYMAC BANK looking for more options to avoid losing our house. We tried asking for help and they were sending us misleading information by mail to apply for their programs but we were declined all the time, we tried XXXX program but PENNYMAC BANK did n't want to participate on their programs. it has been very stressful situation and severe emotional distress due to their actions and negligence on the law. These banks abuse the borrowers right as a Lenders and they do unfair business practices.
PENNYMAC BANK MOVED IN TO A FORECLOSURE PROCEDURE without trying to honor a Loan Modification. they continue charging us late fees and legal fees on top the the NEGATIVE LOAN BALANCE THAT WE ALREADY HAVE ACCUMULATING IN TO MY LOAN AMOUNT. CITIMORTGAGE AS WELL PENNYMAC BANK ARE FULLY RESPONSIBLE OF THIS SITUATION DUE TO THE BAD AND ILLEGAL PRACTICES. PENNYMAC SHOULD KNOW THAT WE WERE ALREADY APPROVED FOR SEVERAL MONTHS BEFORE THEY ACQUIRED MY LOAN.
On or about XX/XX/XXXX the filed an NOD they were supposed to contacted me as a borrower and explore options and avoid foreclosure but they did n't. I tried to avoid foreclosure all the time and I will continue fighting for my legal rights.
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| 09/01/2015 |
Yes |
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- Loan servicing, payments, escrow account
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Web |
Servicemember |
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I had a mortgage with XXXX XXXX XXXX which was a VA Loan. They transferred the loan to PennyMac Loan Services , LLC in XXXX. I never received a letter of this, in addition -- when payment was returned, I found out at the branch the account was no longer with XXXX XXXX. In addition, I immediately contacted PennyMac to provide payment for XXXX and also the XXXX payment which was due soon. There was a difference in monthly payment of over {$100.00} now that the mortgage went to PennyMac. None of this information was provided, or conveyed by either XXXX or PennyMac in any capacity. Agent discovered an overage of {$170.00} ( credit ), this apparently was late fees which XXXX never applied to my last payment for what ever reason. PennyMac was sent a large payment of {$2700.00} to cover XXXX and XXXX. As well -- agent stated the late fees they have on their system would be removed. I called a week later and was told this had not occurred and was told the agent would correct this. In the interim, I sold my home and was directed not to pay XXXX payment for the note would be paid off and this would effect payoff if paid. After payoff occurred, I contacted PennyMac and they stated that the late fees were {$230.00} and non reimbursable. There was never any late payments while in their hands. If anything -- I was told this would be corrected. Lastly -- They had inspections of the property for XXXX, XXXX, XXXX which charged a fee. According to Veterans Benefit Affairs, they state that no inspection fees are to be paid by the veteran in any capacity. When asking for proof of inspection, PennyMac was unable to provide this proof. Never the less, when questioning Escrow balance, it appears funds of overpayment are lower than expected. It appears that PennyMac charged a pre-payment penalty by double charging interest and less to principle which is a direct violation of our agreement and outside the business and rules for a VA Mortgage. Fees are not authorized according to the VBA/VA. PennyMac basically ignored any concerns I brought to their attention and these fees need to be recovered and also, I feel I have received undue hardship as a result, loss of time complaining on the phone several times and not impressed that a company can do this to a veteran who is a good customer and has also been in direct contact with the several times. These inspections should never have occurred, it 's a pons scheme, unwarranted, and the double interest payment is a total misrepresentation and I can not tolerate being mis-treated this way.
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| 05/27/2022 |
Yes |
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- Struggling to pay mortgage
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Web |
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PennyMac is unresponsive to the very program they strongly encouraged me to apply for through the AZ Dept. of Housing HAF program after my loan modification was complete and my monthly mortgage was paid for 6 months in advance.
The AZDOH HAF program has been trying to get PennyMaXXXX to complete this Hardest Hit Funds program onboarding ( CDF ) paperwork since XX/XX/XXXX. This " CDF '' onboarding paperwork was again sent to PennyMac on XX/XX/XXXX. At the end of XXXX, I received a call from PennyMac informing me a ) they received the HAF paperwork and would be completing it, b ) my account was placed in a HHF status and would be protected from any adverse delinquency action while the process of the HAF application was in process c ) that I had been appointed a single point of contact to work on behalf of Hardest Hit Assistance and that I would only be able to communication with PennyMac regarding my account through this single POC while my acct was in an HHF status but d ) that any overdue payments would not report negatively on my credit report during this process just as they had not been when my acct was in COVID forbearance. They *promised* me my account would not be in any jeopardy.
HAF told me they have NOT rcvd the CDF paperwork from PennyMac and have resent it to them for a third time last week ( XX/XX/XXXX ). My POC at PennyMac refuses to answer or return calls, I have never spoken to him, and now my XXXX report has been hit XXXX points bec PennyMac is reporting my acct as 60 days past due. I completed the application for HAF assistance on XXXX XXXX, XXXXwhen my mortgage was paid in advance through XX/XX/XXXX. I need PennyMac to honor their promise of ensuring my account ( that I worked very hard to get current and get a loan mod approved for ) is not reporting negatively and is not jeopardizing my mortgage and I need them to work with the AZDOH 's HAF program adjudicator A.S.A.P to get these Hardest Hit Funds approved as it has been *****6 months ago now*****that I applied for this assistance that I am CONFIRMED eligible for. HAF will pay the 2 months now overdue plus a future 3 months of mortgage payments once PennyMac does their part of completing the CDF onboarding paperwork. PennyMac is now attempting to send me certified mail. I am concerned this mess could put me once again at risk of foreclosure. I just resumed working again one month ago after losing my job of 17 years last year due to the pandemic. I am getting back on my feet but this issue is risking setting me back to square one.
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| 01/11/2021 |
Yes |
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
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I applied for an FHA streamline refinance with my current Mortgagor, PennyMac, in XX/XX/2020. I was assigned XXXX XXXX as my loan XXXX working with my loan officer XXXX XXXX.
XX/XX/2020, I received notification that my credit had been reviewed and my mortgage application was conditionally approved and was informed my loan would likely close the second week of XXXX.
On XX/XX/2020, I received notification indicating there are liens on my property which the m.a.c. team will discuss with me the options for the liens to be paid off or subordinated. I later spoke to my loan specialist and confirmed that I would like to subordinate both liens.
By XX/XX/2020 I had not received an update so I follow up with my loan officer who asked if I had requested the subordination agreement for the two liens. I informed her it was my understanding that PennyMac requests the subordination agreements, however, I was happy to reach out to those companies which I did and was told that PennyMac had not initiated a subordination request. That same day I provided the loan specialist, via email, with the information necessary to request the subordination agreements. The loan specialist also indicated there was a judgement showing on my title for a company that I had no previous relationship with. I informed her of this and also contacted that company which stated they did not have any record of a judgement in my name.
The following day, XX/XX/XXXX, my loan XXXX called me stating we had a " clear to close ''. I asked her what came of the subordination agreements and the proposed judgements and she backed peddled saying she need to research and to disregard her phone call. She later confirmed that the judgement was an error but that they still needed to obtain the subordination agreement before getting a " clear to close ''.
On XX/XX/XXXX, I received a notification indicating they needed a signed W-9 for the subordination which I provided.
On XX/XX/XXXX, I received another notification indicating they needed an " ink signed borrower 's authorization '' and a copy of the note for my home equity line which was to be subordinated. I provided both.
Although I have provided all documentation requested of me, on XX/XX/2020, I received a credit decision of declined with the reason stated as " credit application incomplete '' with no other explanation. I have emailed and left voicemails for my loan specialist and loan officer requesting a explanation of why my mortgage application was denied and have not received a response.
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| 06/15/2022 |
Yes |
- Mortgage
- Conventional home mortgage
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
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This is a request to open a previously submitted CFPB Complaint # XXXX. I've received a follow-up from the originator of my refinance XXXXXXXX XXXX regarding a previous CFPB complaint case made against XXXX and the follow-up read as follows : " XXXX reviewed the closing of this loan upon receipt of the complaint. XXXX found that the the loan was closed correctly. The error is on Investors side once the loan was sold and went into their onboarding for servicing. The investor was contacted and confirmed that they had received a complaint as well, which they are in the process of researching. XXXX XXXX, XXXX customer service manager, spoke with the borrower to inform him of this. The borrower confirmed that he was also been contacted by the investor & is aware that they are reviewing and will be providing him with a resolution. '' As previously brought to Penny Mac 's attention in my initial CFPB complaint case, it was Penny Mac 's responsibility to ascertain the taxes due on the loan before closing. I wouldn't have had any control the calculations and determinations of my final refinancing of my loan ; that's Penny Mac 's responsibility. Penalizing me and requiring me to augment my pay structure to compensate a sizeable tax increase on the error of Penny 's fault, should be on them and not me. If Penny Mac did it's job correctly, and had the proper XXXX and procedures in place, they would have accounted for the tax increase prior to the closing and the final interest rates and payment structure. Due to Penny Mac 's failed actions, I had to adjust my refinancing after the fact and be financially injured to less than optimal payment arrangements than had Penny Mac accounted for the increase before closing the loan. Due to their error, I had to adjust my own personal finances to absorb this unexpected obligation. Typically, property taxes may change over time and that's by nature, but for this to have occurred soon after closing speaks volumes to Penny Mac 's credit and lending administration practices and procedures.
Penny mac refuted my complaint and buried me in technical jargon to escape blame of obligation to do their job. Shame on you Penny Mac. Using technical nonsense to explain why you are not at a fault to an innocent borrower is disgraceful and again is why we need agencies, such as the CFPB. Despite your conclusions, it is your failed processes that got me in this mess and it is your failed processes that has caused me financial injury and embarrassment by the local tax office.
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| 10/16/2020 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
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- Incorrect information on your report
- Account information incorrect
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Web |
Servicemember |
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In XX/XX/2020, after making my monthly PENNYMAC mortgage payment ( VA XXXX XXXX for XXXX, I requested a temporary payment deferment ( forbearance ) due to a COVID 19 hardship. The balance on my account in XXXX after the payment was {$130000.00}. While in forbearance the account balance reported to all 3 credit reporting agencies has increased monthly with being reported XXXX XX/XX/2020 with a balance of XXXX which does not accurately reflect what my monthly statements show and is incorrect. My mortgage account is also being reported to all 3 credit reporting agencies as in forbearance and the monthly payment status is not being reported as current but as no data available. My mortgage was current when I requested the deferment and per the CARES act for a federally backed mortgage should not be negatively affecting my credit and it is. As the balance increases, the acct forbearance statement PENNYMAC is making on the reports and no data for the monthly payments how would this not negatively affect my credit.
On XXXX XX/XX/2020, I called and reported that I was no longer being affected by a COVID 19 hardship and wanted to get my payments back on track but could not repay all at one time. The lady said that I could do a loan modification and the payments would be added to the end of my loan. I made a normal payment for XX/XX/2020 ( the XXXX I had previously paid ) however I recently found out that the loan modification 3 month trial will not begin until XX/XX/2020 and that any payments I make between now and then will be held in a " holding account '' until the 3 month trial modification begins.
I am not sure why I need a trial loan modification when I am no longer under a hardship due to COVID XXXX and can they legally hold a lump sum of money in some separate place not going toward my loan? If I have made the request to resume my payments why should they not be going toward my loan and the balance, yet they continue increasing my balance and reporting an increase to the credit reporting agencies that in not consistent with my monthly statements ( they report more than my statements say I owe ) and then hold my money in some secret account and say I can't begin a 3 month trial modification until XX/XX/2020 when I requested to get back on track on XXXX XX/XX/2020, making a payment on XXXX XX/XX/2020 that is not even going toward my account.
If the CARES act states that they can not negatively affect my credit they very much are negatively affecting my credit and holding my money.
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| 01/08/2023 |
Yes |
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- Struggling to pay mortgage
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Web |
Older American |
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My name is XXXX and I have been Appointed as the Administrator for my Mom Estate by the XXXX XXXX XXXX. Please accept this complaint on behalf of my Deceased mom 's Estate, the Mortgagor.
Background On, or around XX/XX/XXXX, I became aware that my mom 's home was in Foreclosure. I notified PennyMAC immediately that I am a Surviving HEIR of my Mom 's Estate. I faxed PennyMAC XXXX. ) A copy of my mom 's ( XXXX XXXX ) Death Certificate, 2. ) A copy of a XXXX XXXX XXXX XXXX XXXX that Identifies me as a Surviving daughter of my mom 's Estate and as the Special Administrator 2. ) A list of names of additional " next of kin '' who are Heirs to my mom 's estate as well.
On XXXX XXXX XXXX XXXX XXXX XXXX XXXX, PennyMAC 's Attorneys were served via Express Mail and Certified mail a Wrongful Foreclosure Notice with notification that I had filed complaints with FHA ( FHA Case No XXXX and FHA HUD Escalated Complaint No. XXXX ).
PennyMACs Agent ( AP. ) was delivered via email a copy of a XXXX XXXX XXXX ( XXXX ) name me ( XXXX ) as the Administrator of the Estate. To date I have spoken with approximately ( 19 ) PennyMAC Agents, and PennyMAC has failed to be completely transparent regarding what additional documentation is required to name me as the Successor-In-Interest for my Mom 's Estate.
Issues XXXX Foreclosure dates have been set to sell my mom 's home without allowing me a legal heir to be confirmed as the Successor-In-Interest of my mom 's estate. PennyMAC just delivered the TILA Disclosures, A copy of the Breach Notification, Loan Default information, Loss Mitigation, or any Account Reinstatement Remediation options, etc., on Friday, XXXX XXXX XXXX, after I had been requesting them for XXXX and a half months.
I requested access to my mom 's online account after becoming approved Authorized Third Party. I was granted Access for less than ( 24 ) hours because a PennyMAC Supervisor by the name of XXXX revoked my access without cause and documented in the PennyMAC System for no one to give me back access to my mom 's account. I just received the TILA Disclosures, a copy of the Breach letter, Accounts in Foreclosure Notifications, Default Amount, Fees, Charges, and Loss Mitigation, etc.
Motive for their Actions : My mom owes approximately $ XXXX on her property. The Estimated Value of my mom 's property is {$390000.00}.
Thank you for allowing me to share this horrific experience! I am Praying that we will be able to reach a Mutually Satisfying Resolution.
Very Respectfully,
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| 10/30/2017 |
Yes |
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- Struggling to pay mortgage
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Web |
Servicemember |
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My mother who was a US Veteran XXXX in XX/XX/XXXX at the VA hospital. Prior to her XXXX she was adamant that she had drafted a will and the property was being left to my XXXX brother and myself. Unfortunately, we could not locate the document after she XXXX and was required to go through the probate process. Also of note was the fact that my mother said that she had life insurance to cover XXXX and XXXX expenses but the monthly payments were switched from autopay at some point during her last year of life and the policy lapsed 12 days before she XXXX. Essentially all the expenses for her XXXX and the mortgage payment fell to me. I used every dollar of credit I could to make sure she was able to have a dignified XXXX service. I quickly started drowning in debt and became 90+ days behind on all my creditors and eventually have had multiple creditors close my accounts since the XXXX. Because of this extremely dire financial situation my goal was to sell the property as soon as possible and make all creditors whole again. The problem is that I could not afford a lawyer to help with the probate process so I could not legally speak on her behalf to the bank and/or sell the house without being designated as the executor of estate. My hands had been completely tied until late XXXX of this year when we were cleaning the property and actually found her will. After finding the will, I was able to get the state to designate me executor of estate ( XX/XX/XXXX ). I knew there was a sale date on the property set for XX/XX/XXXX so I immediately signed a contract with an investor to purchase the property, as-is and pay the mortgage off. The investor agreed to a specific amount and a week later came back and offered {$25000.00} less than the agreed terms so I declined and searched for a new investor to purchase the property. I then signed a second contract with another investor and they came back a few days later and wanted to give us an amount that was {$17000.00} less than what we agreed. As the executor of estate my responsibility is to ensure all financial obligations my mother had at the time of her XXXX are reconciled. I want nothing more than to pay off the mortgage and also get myself back out of debt as well through the sell of the property. I am requesting more time to get a realtor and put the house on the market. If the bank can put a hold on the upcoming foreclosure sale so I have time to market the property properly then I know we can come to an amiable solution for everyone.
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| 04/02/2022 |
Yes |
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- Trouble during payment process
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Web |
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Dear CFPB, I want to file complain on my lender Pennymac. They have my mortgage on the property of for many years. In preparation of the sell of my property, I called in on various times of preparation for the final pay off letter. I called them in XX/XX/XXXX and XX/XX/XXXX to ask the agents of the process. Both time, they made it seem pretty easy and informed me all I need to do is call the day before the scheduled closing with no additional disclosures. I asked about the payoff letter dates. They provided the information even if the date of the letter is after our actual closing date, that we will get back the extra interest that we pay. In hearing that, I waited to right before our closing date to call to request the letter. Our closing of the sell of the property then was scheduled for XX/XX/XXXX. Thus I called them on XX/XX/XXXX and they got me the letter the same date. The agent indicates that the letter is generated to XX/XX/XXXX. I inquired then if our closing date is XX/XX/XXXX, then does that mean, we will get back all the interest from the date they receive our final paid off to the date of the letter. The agent confirmed yes, overages will be sent back. Our closing went smoothly and pennymac received the pay off on XX/XX/XXXX. On XX/XX/XXXX I called pennymac and received the same expectation that we will get back the extra interest but later the month on XX/XX/XXXX I called and XX/XX/XXXX I called after nothing sent. A representative on XX/XX/XXXX helped submit a research and then on XX/XX/XXXX they called back. They indicate that I was not entitle to any interest refund as the type of loan we had meant that no matter which date we paid off the loan ( XX/XX/XXXX ), we still had to paid the full month of interest. They indicate that they reviewed all my calls and that they did not give me any misleading information. I ask them for me to get a copy of those calls as from my recollection, my understanding of the answers they give me was no problem, I will get the interest back of the XX/XX/XXXX date to XX/XX/XXXX. I feel I got cheated of around {$1000.00} of interest because of this. If we were aware of this, there is no reason for us to not schedule our closing date before XX/XX/XXXX and be cheated of a full month of interest. Pennymac refuses to make me a whole and indicate they are of no wrong. I fully feel I been wronged and they are not giving fair disclosure and guidance to their clients on this process. They owe me money for their misleading information.
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| 02/28/2023 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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My home burned down on XX/XX/XXXX. It was a total loss. I notified our mortgage company ( PennyMac ) of the loss. The insurance company issued a check to me & my mortgage company. I endorsed the check & submitted it to the mortgage company ( PennyMac ) by certified mailthey received the check on XX/XX/XXXX. The funds were not applied to my mortgage @ which I contacted ( PennyMac ) to question why? I was told that they didnt know what to do with the funds, I was instructed that I had to request a payoff from the mortgage department, print it off, write the company a letter instructing/giving them the permission to apply the funds to the mortgage. That request was completed & sent to ( PennyMac ) on XX/XX/XXXX. I followed up with a phone call on XX/XX/XXXX, Spent over two hours on the phone only to find out that that still had NOT applied the funds to the mortgage. At that time I was told that the funds were in a restricted escrow account and that I had to pay the remaining balance in full before they would apply the insurance funds to my mortgage. On Monday XX/XX/XXXX we wired an additional amount of {$32000.00} to ( PennyMac ) which should have covered the rest of the mortgage minus the accrued interest & additional fees. PennyMac contacted me on XX/XX/XXXX to inform they had received the funds but I still owed {$1800.00} and they still will not apply the insurance funds unless I sent more money.
PennyMac has set on the funds for more than a month ( Im sure they are drawing interest on {$240000.00} is substantial ). All the while they continue to charge me almost {$50.00} a day in interest which adds up to more than {$1500.00}.
As of today after spending another hour on the phone PennyMac refuses to apply the insurance fund to my mortgage unless I pay them more. They have more than {$270000.00} of my money & they refuse to apply to my mortgage.
There are thousands of customer complaints against this company. I have lost everything I own, I dont have clothes or a home and this company have the balls to treat the customers this way. Basically they are holding all my funds hostage until I send them more money. I in good faith have made every effort to pay off this loan.
At this point I can not move forward. I cant rebuild or even get a loan because they will not apply the insurance funds that they have had for 32 days to my mortgage.
I am at a loss at what I can do. They are money gougers.., nothing but greed. These loans are not set up to help the consumer.
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| 11/06/2022 |
Yes |
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- Struggling to pay mortgage
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Web |
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I was at work on XX/XX/22 when my wife called in to ask about a loan modification we requested for on XXXX. Let me state my wife and I are legally divorced but currently working on our marriage. However that should be of no concern of Penneymac. Their only position in this is to process the paperwork not question my relationship status when they have been told we are back together. My wife spoke to XXXX who told her she was not authorized to speak to her about the account. We specifically faxed the paperwork requesting that she can be spoken to about the account on XX/XX/22. XXXX found the paperwork. Apologized that it was not on the system. She began to tell my wife that the loan modification was approved and that the unpaid balance would be put on the end of the loan. XXXX also mentioned that fed ex delivered the paperwork which we never received. She proceeded to look up the delivery date then hung up on my wife. When my Wife called back the single point of contact person who was XXXX didnt answer. She is the XXXX listed on the paperwork. Someone named A from the XXXX XXXX modification office answered and proceeded to say the paperwork had not been processed. A would not provide his last name when requested by my wife although he has sent paperwork to our home with his last name on it. My wife requested to speak to a supervisor. AA stated the office closed at XXXX although XXXX answered at XXXX. AA put my wife on hold and came back to say the supervisor want available. My wife asked for a number to file a complaint. It would not have gotten this far. XXXX gave my wife an approval date which was XX/XX/22 in which the loan modification had been approved. She said the paperwork was sent out via fed ex but did not provide the date delivered or the tracking number. XXXX mentioned the line was being recorded so this recording dated XX/XX/22 should be able to be pulled up easily. We have done everything Penneymac asked of us including sending a fax with the modification paperwork requesting that my wife be included in these calls because I work and yet she is still getting the runaround instead of AA or JA just doing the job they get paid for. To help their customers. We want to keep our home. We can now make the payments but it seems as though Penneymac is intentionally trying to foreclose on our home. They advertise that they are here to help the homeowners yet when my wife calls and sends in the requested paperwork as requested by Penneymac there still is no help.
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| 06/22/2021 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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XX/XX/XXXX, called Pennymac, spoke to PMI department regarding PMI deletion as we have made many improvements to our house since purchasing in XX/XX/XXXX.
Payment of {$150.00} was taken over the phone that day to pay for the appraisal.
XX/XX/XXXX, I missed the call from Pennymac, message stated they were calling to schedule the appraisal.
We attempted numerous times to call back to reschedule only to not receive a response.
We eventually received a letter stating that we were not eligible for the PMI deletion as not enough time has passed since we purchased the home. We again tried to call to clarify as to why this letter was sent without the appraisal without any response.
After weeks of being promised a return call we finally were able to speak with someone in the PMI department ( XX/XX/XXXX ) who quoted incorrectly the XXXX XXXX regulations and told us that we were not eligible for PMI deletion as we have not lived in the house for 2 years, and that if we wanted they would refund us the money for the appraisal I read him the criteria of PMI deletion from XXXX XXXX website which states if improvements have been made to the house then we could start the process. We had made it clear from the beginning that we were requesting a PMI deletion based off improvements and value of the home, thus why we paid the {$150.00}.
We asked to be transferred to a supervisor, at that time we spoke to XXXX XXXX, who assured us that we were right, and due to the amount of improvements we could start the appraisal process.
We submitted proof of improvements to the house, and then were contacted by the appraiser who came to the house on XX/XX/XXXX.
10 days have since passed with no response from Pennymac, except that we have received a duplicate letter from Pennymac stating that we do not qualify for PMI deletion based on the amount of time we have spent in the house. There has been no response from XXXX who was previously communicating with us.
The appraiser - XXXX XXXX with XXXX XXXX respond to an email with a range of what the houses in the neighborhood are valued at, which is not a sufficient appraisal.
The appraiser told us that he was not able to issue us the report, that it would come from Pennymac with comparables and property condition to determine current market value.
At this point we are extremely frustrated with the lack of response and delay in this matter, as they have stopped responding to us we are asking for your assistance in this matter.
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| 02/28/2023 |
Yes |
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- Trouble during payment process
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Web |
Servicemember |
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In XXXX we were offered a Disaster Forbearance Plan for XXXX to XXXX, since we were in the issue areas for the hurricane. When we reached out in XXXX to end the Forbearance and take the Deferment option, we were then notified that the original person who set up the Forbearance gave us false information. The Deferment option was never even an option based on our lender. We would have never taken forbearance with the other options listed on the letter we received on XXXX XXXX. I have spent countless days back and forth on the phone with them expressing that we were lied to and basically given the " too bad so sad, we sent a letter ''. We currently have an interest rate of 2.75 %. Initially we were told that we could make a repayment plan of {$3000.00} per month for 3 months. Then when we called back in XXXX to set up the repayment plan and resume our payments, they told us we were already set into a Modification. Why would I modify my loan to end up with a higher interest rate? Every call we have made, you will hear us saying Modification is not and would not be an option for us. We spoke to a supervisor named XXXX, who talked in circles and basically explaining thats our only option. My wife said we would call back and let them know which option we were taking. When we did, we said we would take the repayment plan, but NOW they have added XXXX into the forbearance so it will be 3 payments of $ XXXX. We were transfered to XXXX XXXX on XX/XX/XXXX, and after she went over our finances she explained that we wouldn't qualify for any other payment option after taking some information from me. I am a 100 % Totally Unemployable XXXX Veteran. After almost a 2 hour phone call, XXXX notified us that I was eligible to be placed back on Forbearance, and we could use that time to pay down like we had initially asked. ( I asked over and over again to at least make XXXX 's payment and was told we couldn't do that ). Yesterday afternoon we received a letter from Pennymac explaining that we may now begin receiving foreclosure notices if we don't bring the mortgage current soon. I signed on to my online account, and found a notice that says we requested to end the forbearance on XX/XX/XXXX. This is now multiple times they are making decisions for us without our approval or even knowledge.They keep posting as " Completed Covid Forbearance Plan '' but we never took a forbearance for Covid. We accepted the forbearance to get caught up from unexpected hurricane prep and post costs.
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| 02/27/2021 |
Yes |
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- Struggling to pay mortgage
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Web |
Servicemember |
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On XXXX XX/XX/2021, I contacted PennyMac Loan Services about my existing mortgage. I am currently on a forbearance plan due to the impact of the COVID-19 pandemic. I recorded my phone conversation with XXXX. I asked for an extension of my forbearance and asserted that I am still being affected by COVID-19. XXXX asked me in what way was I still being affected ( e.g., loss of pay, reduced hours, not working ). I reminded her that I was not required to provide this information. She stated ( quoting exactly ) " It is for documentation purposes. For us to continue it, we have to document how you are still impacted. It just can't be that you are impacted. '' I responded to her statement by letting her know that the law does not require me to provide additional information/documentation beyond making the assertion that I already made to her. She emphasized that the questions she asked were not intrusive. I told her that was irrelevant. I also told her about my recent complaint to the Consumer Financial Protection Bureau regarding PennyMac 's previous incident in using quid pro quo tactics whereby PennyMac refused to provide me information about my account and answer questions about my forbearance until I answered their additional questions about my COVID-19 hardship. The representative stated I can call back when my forbearance expires and that she would not honor my request to extend my forbearance. XXXX stated a date that I could call back, but I was unable to make this out during the actual call. During the call, I tried to ask her about the date she stated I needed to call back. She refused to ansewer and, instead, flooded the phone with several pieces of information. I attempted several times to let her know that I couldn't hear her and to ask that she repeat the vital information. She refused to do so and, instead, directed me to visit PennyMac 's website. I have included attachments of publications on the Consumer Financial Protection Bureau 's website that provide instructions and guidelines to mortgage servicers. Beyond the plain language of the CARES Act, these additional publications make it clear that PennyMac is required to provide a forbearance and an extension of a forbearance upon my request and assertion of continued harship as a result of COVID-19. PennyMac 's refusal to do so and PennyMac 's refusal to answer simple and routine questions about my forbearance ( not to mention as a repeated offense ) constitute the main claims of my complaint.
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| 09/29/2017 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
Older American, Servicemember |
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We purchased our home in XXXX XXXX with XXXX XXXX XXXX financing, which, of course, required PMI. Since then, the home has gone up considerably in market value, which, when combined with XXXX plus years of principle reduction, brings us well below the requisite XXXX threshold of XXXX % XXXX to drop the PMI. Per XXXX regs, a new appraisal was required. The servicer, XXXX, through its appraisal management XXXX, sent out the same XXXX who had done the original purchase appraisal. The ensuing appraisal report was chock full of errors, omissions and misstatements of material facts, some of which are a matter of public record, falsified his XXXX certifications, used non-comparable sales data while failing to note significant comparable sales data relative to our house. It is compelling and illustrative of the depth of this XXXX 's XXXX, lack of professionalism and failure to exercise ordinary care. Each appraisal done on our home by this same XXXX contains different and conflicting information. As a result, based on garbage in/garbage out XXXX, the ensuing report grossly understated the value of our home and XXXX denied dropping the PMI. We contacted XXXX to dispute the appraisal and wrote a letter of dispute, supported by additional documentation pointing out the erroneous information and omissions on the appraisal report, the fact that the XXXX has a vested interest ( he is also a XXXX XXXX XXXX XXXX ) in influencing values as well as additional timely comparable sales data ignored by the XXXX which support a market value significantly greater than the falsely arrived at value issued by the XXXX. We, again, requested dropping the PMI. XXXX chose to blatantly disregard the factual and supportive sales data we submitted and again declined our request to drop PMI. Factual errors, omissions and wrongful assumptions and data on the original appraisal report were NOT corrected. They also declined our very specific request to provide detail of who, precisely, was to have performed the so-called " review. '' IT IS PATENTLY WRONG THAT WE, AS CONSUMERS, SHOULD BE REQUIRED TO ACCEPT A DECISION BY THIS LENDER/SERVICER BASED ON A PROVEN ERRONEOUS REPORT. We then sent a certified letter to head of the operations group at XXXX demanding that fresh eyes, higher up the ladder, review this case and approve our request to drop the PMI. Copy of that letter is attached to this complaint. We have not received any response from XXXX since.
Thank you.
XXXX and XXXX XXXX
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| 09/20/2021 |
Yes |
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- Trouble during payment process
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Web |
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Property address XXXX XXXX XXXX XXXX FL XXXX Last week I learned from PennyMac, raise my mortgage payment out of nowhere. There was no letters telling me about the increase. No phone calls whatsoever telling me about the increase.. no form of any type of knowledgement. I only learned about this when it was time to make my mortgage payment I went online, to make the payment when I noticed an increase of so many hundreds per month. Look like it was adding almost to a grand extra per month.
I have a FHA loan which supposed to have set payments for the next 30 years. I couldn't understand how they could have been an increase extremely so high out of nowhere. Nevertheless never to be notified about the increase in a timely matter. There was no correspondence from PennyMac letting me know about this increase. Furthermore, PennyMac was contacted about this increase. They stated clearly that the property tax is on the house increase more than {$5000.00} for the year.. Which I found that nearly impossible. How can you tell me, that property taxes could increase by {$5000.00} per year.. that is exactly what a representative from PennyMac has stated.
XXXX county tax collector office was contacted right away. Who clarify how much the property taxes went up. XXXX county tax collector office informed us, that the property taxes only went up {$370.00} more a year. Not over {$5000.00} more a year.. however, PennyMac, was contacted for them to recalculate and make the necessary corrections. Nevertheless, we also sent them a copy of the property tax bill what it should be. Nevertheless have they made the adjustment. Yet they still want to charge us an increase of almost a grand more a month.. they told us if we did not pay that extra more a grand per month, that we would be considered in default with the mortgage payments. So it clearly took us by surprise that we had to pay almost XXXX more to cover for the mortgage payments.. nevertheless, we was told we would have to pay that increase for the next whole year, per month. I do not understand how did they do their math. How do I go from a 30-year fix, and get in an increase of XXXX per month more. On top of the mortgage payments I make currently. There is no way we could afford a extra {$800.00} more per month. Then again there's no way a property taxes could go up {$5000.00} extra per year. Because property taxes have a cap. They basically double my property taxes. With an increase of more than 100 %..
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| 04/23/2021 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
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- Incorrect information on your report
- Account information incorrect
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Web |
Servicemember |
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I am a XXXX XXXX who became injured after serving on XXXX deployments with the United States XXXX. Unfortunately, I had to receive XXXX on a military related XXXX in XX/XX/XXXX, that caused me to remain out of work up right before XXXX. I am thankful that PennyMac placed me on an unemployment forbearance plan that ended in the middle of XXXX in XX/XX/XXXX. However, I was affected at work by an hour decrease from XXXX hours to about XXXX XXXXours per week around XX/XX/XXXX. I informed PennyMac of the reduction in hours, and was offered two options : pay the lump sum owed from the unemployment forbearance plan or enter into a repayment plan. I chose the latter option while I was still struggling because I was not made aware of a COVID forbearance plan after informing PennyMac of my COVID-related financial issues. Moving forward, I made all six of the repayment plan payments on time and was still reported late for three of the six payments. I have been pursuing PennyMac with numerous requests and phone calls to remove these late payments initially in XX/XX/XXXX and consistently since XX/XX/XXXX. I informed the company that is the only obstacle that is keeping my family and I from closing on a home. If PennyMac does not remove these payments, we will be another homeless family on XXXX XXXX. I tried to reach out to several supervisors, but the agent ( XXXX ) on the phone either hangs up on me or asks " why do I need to talk to a supervisor when I will get the same answer? '' I even reached out to the President, XXXX XXXX on XX/XX/XXXX.
I have attached the four months of statements between XXXX and XXXX. In the months that I was reported late, the statement reflects a lump sum owed even though I was on the repayment plan and the payment was already made. The XXXX payment due XXXX XXXX statement ) reflects the repayment plan notice on the statement and shows the correct amount due. Therefore, I was not reported late for XXXX. Yet, I was reported late for XXXX, XXXX and XXXX XXXX skipping XXXX XXXX. How is this possible when all payments were made on time. Even without the CARES ACT in place to protect consumers on a COVID forbearance plan, this is clearly an error on Pennymac 's part. Even so, as a XXXX XXXX who fought for this country, PennyMac should not give me a hard time with removing these three lates considering the circumstances of being XXXX while experiencing the hardship of COVID alongside everyone else. My family is in dire need.
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| 09/30/2023 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
- Payment process
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Web |
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PennyMac Called on XX/XX/XXXX due to noticing due amount included late fee. Late fee was stated to be waived. Payment was made on XX/XX/XXXX which covered the difference fee per the calculation with the agent on the phone, {$190.00}.
Called on XX/XX/XXXX : Waived late fee. Payment made on XX/XX/XXXX to be applied to upcoming months bill. Confirmation XXXX XXXXXXXX Called on XX/XX/XXXX : Waived late fee approved. Waiting for the payment that was made to be applied to upcoming month 's bill. Extension number : XXXX. XXXX.
Called on XX/XX/XXXX then requested for supervisor : The payment on XX/XX/XXXX went towards principal instead of payment. Thats the reason it has been late. Looking into reversing the charge for it to go against monthly payment instead of principle. All late fees waived. {$73.00} was paid for payment on XX/XX/XXXX and XX/XX/XXXX to go towards monthly payment. Confirmation # XXXX Called on XX/XX/XXXX to follow up. The payment on XX/XX/XXXX was escalated for supervisor approval and was declined. Late fees were waived. Relayed the following payments that went towards principal reduction was not approved and the understanding was for it to go towards monthly payments. That was the only reason the XX/XX/XXXX and XX/XX/XXXX payments were made for it to be the total monthly payment of {$2100.00}. Will be calling on XX/XX/XXXX. Confirmation XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXXXXXX XXXX {$2000.00} XX/XX/XXXX {$25.00} XX/XX/XXXX {$73.00} Multiple phone calls from PennyMac providing updates from XX/XX/XXXX to middle of XX/XX/XXXX. The last phone call from PennyMac stated the concern was resolved and the amounts were moved to the monthly payment for next month.
Called on XX/XX/XXXX to follow up. The amounts are still in principle and not applied towards monthly mortgage payment. It was requested for this concern to be resolved as it was stated it was. Requested for the recording of the phone calls. It was stated this is escalating to supervisor for supervisor to to call back on XX/XX/XXXX between XXXX to XXXX.
In the monthly bill, there is a section titled " Important Messages : '' *Suspense : Any amount received less than a full payment will be applied to a suspense account for your mortgage. When enough is received to equal a full payment, a full payment will be applied to your mortgage.
PennyMac is not following their Important Messages statement on their monthly mortgage bill that is received.
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| 04/15/2020 |
Yes |
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- Incorrect information on your report
- Account status incorrect
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Web |
Servicemember |
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I began refinancing an existing loan with PennyMac in XX/XX/XXXX. We closed on the refinance on XX/XX/XXXX. As a part of the refinance agreement, I was not required to make a payment on my new loan until XX/XX/XXXX. However, shortly after closing, I received a notification from PennyMac that my XXXX payment was late. I contacted PennyMac to get clarification about the notice and was informed that the notification was sent before the closing and that I was not required to make any payment until XXXX, as previously stated. On XX/XX/XXXX, I received a notification from my credit monitoring service indicating that a late payment had been reported against my credit by PennyMac. I reached out to PennyMac to find out the cause of the " late payment ''. After multiple calls over several days and hours spent on the phone, a customer service representative finally discovered the issue. The customer service representative informed me that during the refinance process, someone at PennyMac made a mistake which resulted in the original loan remaining unpaid while a new loan was added to the property. The late payment that was reported against me was for the original loan which should have been paid off by PennyMac during the refinance. PennyMac 's representative informed me that they would be paying off the original loan, eliminating any fees, mailing me a letter to explain their mistake, and contacting the credit bureaus to correct my credit report.
I have reached out to PennyMac on an almost weekly basis since XX/XX/XXXX to follow up on their progress with these action items. Each time I have spent an exhausting amount of time explaining the situation to a new customer service representative only to find out that no actions have yet been taken to issue me a letter or correct my credit report. Although the original loan was finally paid off, I have not received a letter from PennyMac and my credit has been negatively impacted for almost 6 weeks now. I filed a formal complaint through PennyMac 's customer service regarding their general lack of urgency and the absence of communication throughout the process, but have still not received any response.
I have given PennyMac every opportunity to rectify their mistake and I believe I have been relatively patient. But my family and I are in the process of moving to XXXX XXXX and I will not be able to receive a favorable loan for a new property until my credit is restored.
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| 10/28/2019 |
Yes |
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
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I was working with PennyMac Loan Servicing on getting a loan on a new mortgage company. I was set to close on XX/XX/XXXX and made sure to constantly be in contact with our processor regarding closing date. On XX/XX/XXXX I received a loan estimate that was grossly incorrect. When I locked with the company my estimated closing costs were $ 17,000+ I had one condition to pay a {$9000.00} auto loan off. On XX/XX/2019my loan estimate was showing {$53000.00} needed to close. I then contacted the company to tell them this was incorrect. After going back and forth for 2 weeks they still had problems adjusting and fixing the closing estimate. On XX/XX/2019 the title company got a closing disclosure that read I needed {$23000.00} to bring to close when I confirmed this with PennyMac I got different answer from different people. On XX/XX/XXXX I had two people tell me {$23000.00} needed to close and one told me {$32000.00} needed to close. I even have it in writing I need {$23000.00} to close. On XX/XX/XXXX ( 3 days before closing ) I assumed everything was resolved due to my conversation 2 days prior. I learned it was not and then company would be pushing my closing because they forgot to order a flood appraisal and the earliest that I then could close was XX/XX/XXXX. I told them there would be a penalty to me if we can not close on the XXXX. They said we will worry about that when we get there. I was also told closing costs were back up to {$32000.00}. When asking for a closing disclosure I was not provided a new one the only ones I got was from the title company. I feel like I was being taken advantage of. I decided to part ways with this company and find a new lender. I am now having to pay penalties because of this company. When I spoke to management they stated they new a month prior I was not going to be approved for the loan but felt like I didnt need to be told that explicitly so I could find someone else. They wanted to have me try to just keep coming up with money to make it work. I have requested they pay my penalties because they did not communicate with me adequately and I feel like they stalled and stalled until I ran out of time to make a change. The attitude I got from the company was just wait it will work itself out or just wait we will work together but none of which happened. They did have a copy of our contract that stated how much penalties are if closing is delayed because of the buyer.
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| 06/10/2022 |
Yes |
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- Struggling to pay mortgage
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Web |
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I got sick around XXXX or XXXX of XXXX. I could no longer maintain full time employment. I was behind on my payments so I contacted PennyMac Mortgage and applied for a loan modification in XXXX of XXXX. I was denied several times because they said I did not have enough income to make my current payment. I did have my XXXX income plus rental income, since I purchase the duplex. So, when PennyMac Mortgage kept denying my requests for a modification, I had no choice but to file for bankruptcy protection. Since I was behind on my payments my bankruptcy attorney was able to place those past due payments into a Chapter XXXX plan.
Around mid XXXX or XXXX of XXXX, my tenants stopped paying their rent, they left water damage in the home which caused mold. I was forced to miss my XXXX payment. I did not know that I could not miss any payments to PennyMac. My lawyer said that PennyMac sent in a notice stating that they were going to foreclose on me unless I catch up on the past due payments plus court costs in the amount of {$7700.00}. The payment that I had missed was in XXXX if XXXX in the amount of {$1200.00}. These payments PennyMac wanted were in 6 monthly installments of {$1200.00}. I got a part-time job to make these payments, which was very hard on my body since I am still under doctor 's care. I made all of the payments as agreed, but now PennyMac is stating that I had missed those 6 payments plus other montly mortgage payments and unless I start paying extra on my current mortgage, which is now {$1900.00}, and extra {$660.00}, which I do not have, and I still do not have a tenant because I can not afford to get my unit ready to rent again. My bankruptcy attorney advised me to hire a Certified Public Accountant to go over my PennyMac account because he said he does not understand what is going on financially with my PennyMac Mortgage account either. He also stated the burden of proof is on me each time I go to court and I am always responsible for the court costs and fees, which in XXXX of XXXX was {$1200.00}. Also, they had purchase Hazard Insurance, but I purchased a different policy because it had better coverage. PennyMac was charging me twice for both polices for a few months and now they are also saying I did not have any overpayments and they are not applying any of the overpayments to my account, as I can tell. The dates above are approximate but the dates on the attachments are correct.
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| 04/16/2018 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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There is a FULL month going back and forth with this mortgage servicing company about a stupid change of address and for some reason they keep on giving me a very hard time and just dragging me around with all kinds of excuses and lies.
1. As many times I called in I was kept on hold for hours and transferred from one department to another department each time with a promise that someone will take the call, but that never ever happened, leaving me in the dark with nothing resolved.
2. There is a promise on their website that the messages on the site will be handled within 48 hours, but indeed it takes 96 hours if not more than that, if at all.
3. A month ago they confirmed me that the address was changed, but then after a week or so I recognized that the address was not changed, so they told me that they couldn't change the address, since they address appears as an hotel ( which is not true at all nor is it near any hotel ) then the promised to escalate it, but it took them another several days to come back. If they couldn't change the address, how come they didn't communicate back to me in the first place, how come they left me in the the dark with replying and communicating with me while indeed they even wrote me back to confirm that everything is in order and updated!!!
4. This is also non sense as I confirmed the address which is an address in a foreign country why and how will they be able to confirm this, I'm the one here and telling them that this is the address while they are not even local to verify or argue with me on this.This is what I gave them this is what they should accept, anything behind that is behind the scope of their responsibility.
4. After confirming the address, they came back with a new excuse that since I'm represented by an attorney, they can't make any changes upon my request as any communication needs to come directly from that attorney. This can't be any more false than this a ) they made the initial change without my authorization and without the attorney 's authorization while I was already represented by legal counsel, so how come the first change they can do while the second they can't? b ) They have on file an authorization from my attorney allowing to communicate directly with me.
This is just even more confusing and seems just an excuse, as you changed this address to the current address while I was represented and without my or my attorneys consent.
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| 02/01/2018 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
Servicemember |
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Our first tax bill, received in XX/XX/XXXX, was due onXX/XX/XXXX. We called XXXX XXXXn late XX/XX/XXXX in order to be sure there were no issues and in an attempt to have the taxes paid inXX/XX/XXXX. They said they had numerous requests and may not be able to get to It inXX/XX/XXXX.
I called XXXX on XX/XX/XXXXand was told they would pay the taxes before the end of XX/XX/XXXX. I reminded them the taxes were due onXX/XX/XXXX and our escrow account had the funds to cover the taxes. I spoke with XXXX on that call.
The next time I called was on XX/XX/XXXX the date the taxes were due. XX/XX/XXXX told me that XXXX usually wired funds on the due date to the taxing agency along with a list of the property owners. She said she would follow up and let me know on the following day. She did not call back the following day.
OnXX/XX/XXXX I called XXXX and spoke with XXXX and was told our tax payment had been expedited and our taxes would be paid within the next 5-7 business days. He also told me that they would withdraw {$1600.00} ( the actual tax due ) from our escrow account and XXXX would pay the {$44.00} late fee. In actuality they took the entire amount of {$1700.00} from our escrow funds.
On XX/XX/XXXX XXXX called me back and told me our Parcel ID was uncertified per XXXX County and that XXXX got the problem solved with XXXX County. Then she said our Parcel ID number is now certified and XXXX would pay the taxes owed.
I called XXXX Countys Assessor Office, Auditor and Treasurer. None of them had any idea what Parcel ID Certification meant. I was told by the Treasurers office they had received funds from XXXX in XX/XX/XXXX but our taxes were not included. XX/XX/XXXX County Government address is : XXXX XXXX XXXX XXXX XXXX SC XXXX. Phone : XXXX
We are unhappy with how XXXX this was handled by XXXX. Due to XXXXs failure to uphold their fiduciary responsibilities and causing us to pay for their error, we believe the escrow account requirement should be cancelled free of any charges to us and allow us to handle the taxes and insurance in a timely manner. We paid {$330000.00} for this house and our mortgage balance is {$120000.00}. We have paid the mortgage payment plus additional funds toward the principal each month. XXXX is well protected and would assume no serious risk by cancelling the escrow account requirement.
Attached : XX/XX/XXXXTax Notice XXXX statement Notes from phone calls with XXXX
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| 10/08/2019 |
Yes |
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- Incorrect information on your report
- Account status incorrect
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Web |
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In XX/XX/2019 I was having some financial hardship due to recent divorce. I contacted the mortgage company, PennyMac, to make payment arrangements so that I could stay current on my loan without penalty. Arrangements were made for me to pay half of my XXXX payment, {$570.00}, onXX/XX/19which I adhered to. The second half of my XXXX payment, another {$570.00}, was scheduled for and paid on XX/XX/2019. During the conversation in which this arrangement was made, I was not told about this having a negative impact on my credit or being considered a late payment. I was under the impression that because those arrangements had been made, provided I adhered to them and continued to pay as I have been I would remain in good standing. However, my ex-husband ( who I am trying to remove from the mortgage as soon as all of this is corrected, as he has not lived in the home or been financially responsible for the mortgage in over 1 year ) informed me his credit has been impacted. Today, XX/XX/19 his credit report is showing that the status of the mortgage is currently 30-59 days past due. My personal credit report is showing that the mortgage is current as of XX/XX/19 but was 30 days past due for XX/XX/2019. Had I been informed this would impact both of our credit despite the payment arrangements, I would have applied for a loan elsewhere in order to remain in good standing with my mortgage company.
I called the mortgage company to explain the situation and the agent I spoke with filed a dispute for me. I called back today, XX/XX/19 and was told it " doesn't look like they are going to accept the dispute ''. I was told that maybe sending them a letter much like this complaint might help my case.
After the split payment arranged for XXXX, I have paid my mortgage every month on the set upon due dates in my PennyMac website login.
XX/XX/19 - paid {$1100.00} XX/XX/19 - paid {$1100.00} Today - XX/XX/19 - called to follow up on the dispute and made sure they were aware of my current pending payment for XX/XX/19 of {$1100.00}.
I am very upset the company never informed me what this would do to our credit scores and standings, and that they offered no apology or explanation and are not willing to go back to the credit agencies to remove this mark. I have excellent payment history and would have never resorted to making that payment arrangement had the agent at PennyMac told me what it would do to my credit.
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| 01/12/2021 |
Yes |
- Debt collection
- Mortgage debt
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- Attempts to collect debt not owed
- Debt was paid
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Web |
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PennyMac HUD FHA Common Law Court Order No. XXXX and XXXX It has already been adjudicated in the courts above that ex relations XXXX XXXX XXXX now appellation and nationality correction XXXX ; XXXX XXXX XXXX XXXX on XX/XX/XXXX, and again on Your item was delivered at XXXX XXXX on XX/XX/XXXX in XXXX XXXX, CA XXXX to XXXX. The item was signed for by XXXX XXXX. A reminder of the full amount payment to PennyMac c/o FHA/HUD and was received, via USPS proof of Delivery and service signed by postal worker.
XXXX XXXX XXXX and XXXX XXXX XXXX XXXX, c/o PennyMac, HUD and FHA had been notified of her application and nationality correction as of XX/XX/XXXX shortly after added her name but never sent out a new statement. I have not received any phone calls nor any letters concerning this payment matter as it was due on XX/XX/XXXX. The original payment was XX/XX/XXXX and also XX/XX/XXXX. By law 3-603 [ b ] if the tender of payment of an obligation to pay an instrument is made to a person entitled to enforce the instrument and the tender is refused, there is discharge, to the extent of the amount of the tender, of the obligation of an endorser or accommodation party as ; XXXX XXXX XXXX a XXXX has done. Having right of recourse with respect to the obligation to which the tender relates.
I was told by PennyMac once before back in XXXX that if i didn't make another payment they would put a mark on my credit report as unpaid and force me into foreclosure. As such USC 18USC3571, 18USC872, 18USC1001 18USC1621 forced compliance to contract not or no longer held, for they have received not only the tender of payment but also the 1099c discharge attached herein this claim. On multiple occasions someone attempted to make threats of foreclosure by way of identity theft, and i have not received any documentation nor monthly mortgage statements as of XX/XX/XXXX.
This debt is tendered as well discharge By law 3-603 [ b ] if the tender of payment of an obligation to pay an instrument is made to a person entitled to enforce the instrument and the tender is refused, there is discharge, to the extent of the amount of the tender, of the obligation of an endorser or accommodation party as ; XXXX XXXX XXXX a XXXX has done. Having right of recourse with respect to the obligation to which the tender relates. I was told by XXXX that if i didn't make another payment they would put a mark on my credit report as unpaid.
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| 12/27/2022 |
Yes |
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- Trouble during payment process
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Web |
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On XX/XX/XXXX, my mortgage was supposed to automatically withdraw the monthly payment. On XX/XX/XXXX, I logged into my account and there was NO SIGN OF A PAYMENT BEING PROCESSED FOR THE MONTH OF XXXX EITHER IN THE PAST OR PENDING PAGMENTS. There was a box that indicated the next automatic payment would be processed on XX/XX/XXXX. I then made a payment on XX/XX/XXXX since one had not been made. On XX/XX/XXXX, I logged into my account once more to double check. I was then able to see that two payments had been made-one auto payment and the one-time payment. At this point I called PENNYMAC and was instructed to notify my bank and request a stop payment. The supervisor at PENNYMAC said they would also issue a refund for the other payment and that my account would then be current. They also stated that they were currently submitting a formal complaint and that the app developers would be made aware of the incorrect information regarding automatic payments on their app. On XX/XX/XXXX, I made a full XXXX payment once again and this was posted through my bank as I had noticed that both payments were reversed. On XX/XX/XXXX, I received a message from PENNYMAC that my payment was not processed due to my account being frozen. When I logged in to check, there was record of a payment posted on XX/XX/XXXX, however it was indicated that a payment was not made for the month of XXXX. When I called and spoke to another supervisor at PENNYMAC, I was told that they returned an extra payment and that my account was not current. The payment made on XX/XX/XXXX was supposedly applied to the XXXX payment. I was also told it was standard procedure for them to refund money they had not received. They also shared that the previous supervisor should not have advised me to initiate both returns and that they were mistaken for that. When this supervisor stated they would be submitting a complaint and that it would remain accessible to anyone who views my account, I asked if they could see the prior complaintthey could not.
This is now the second time I am submitting this complaint. XXXX had attempted to contact me and upon attempting to reach back out to XXXX, I have never been able to get in touch with her. XXXX XXXX closed my prior complaint ( XXXX XXXX : XXXX ) claiming that pending payments were made available to me when they were not, as stated in my original complaint and now in all caps in this complaint.
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| 03/20/2019 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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PennyMac has been the loan servicer on my mortgage since XX/XX/XXXX. I set my account to receive automated email notices of my monthly statement and receipt of my monthly payment as I am enrolled in autopay. I did this for convenience and given the very bad customer reviews online for PennyMac, I wanted as little contact as possible with this company and wanted avoid any problems since they struck me as an untrustworthy and sleazy outfit. I had been receiving the monthly notices to my inbox without any issues until around XX/XX/XXXX. On or about XX/XX/XXXX, I received a barrage of solicitation telephone calls on my mobile and work numbers from PennyMac trying to get me to refinance my mortgage. I requested to be removed from the call list both to the callers and to customer service to no avail. I filed a complaint with the CFPB in XX/XX/XXXX to stop the telephone solicitations. I received a letter from XXXX XXXX of PennyMac dated XX/XX/XXXX stating that " stops have been placed on your loan to prevent any further solicitation calls ''. Thereafter, I no longer received the automated email notices of my monthly statement and receipt of monthly payment. After many calls to customer service and resets to my account settings, I now receive only email notices of my monthly statement. I called Ms. XXXX on XX/XX/XXXX and left a voicemail to discuss. She never returned my call. In her letter of XX/XX/XXXX, she suggested that I check my spam folder. I check it daily and there was no email notice of receipt of my monthly payment. Her suggestion that I contact XXXX to resolve the issue is ridiculous. Further, her suggestion that I go online and log into my account each month to confirm payment has been received is a waste of my time. I plan on keeping the mortgage for at least another 12 years, which would equate to 24 hours of my life for something that would take a second to see in my inbox. In my opinion, PennyMac caused the issue back in XX/XX/XXXX and they need to fix it. Since I am enrolled in autopay, I need confirmation that my payment has been received. If there were some issue, I would have a late payment on my credit report and be subject to a late payment penalty. Even though this is America and land of the free, I am not permitted to choose my loan servicer. The only way I would be able to resolve the issue is to pay off the mortgage to rid myself of PennyMac.
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| 05/13/2020 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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I was charged {$25.00} for a Payoff Demand Letter, and PennyMac did not disclose the fee upfront. Even the customer service rep ( who was very nice ) agreed that made no sense. PennyMac would not refund it when I pointed out that the fee was never disclosed to me and isn't published on the page of My Account where a Payoff Demand Letter is requested. There is no reference to a fee anywhere, and the Customer Service Rep wasn't able to provide me with a reference to where this fee is mentioned anywhere, either. I will never do business with this company again.
As of XX/XX/2020, this is the text on the Payoff Demand request page ( I have a screenshot ) : Payoff Request If you are working with an escrow officer or attorney as part of a real estate transaction, they will contact PennyMac on your behalf to obtain this information.
Important things to remember : You are responsible to continue to make all payments on your loan until it is brought to a XXXX balance. Late fees/adverse credit reporting may be affected if payments are not received.
If you pay off your loan and you are set up on PennyMac AutoPay you must cancel the service at least three ( 3 ) days prior to your scheduled payment date in order to avoid a draft from occurring while your payoff is being processed.
When sending in payoff funds, please follow the payment instructions in the payoff statement.
If you are moving, please remember to update your Mailing Address so we can be sure to get important documents, notices and/or refund checks to you promptly.
If your loan had an escrow account, any remaining funds will be mailed to you within 20 days from the date your loan is paid in full.
After your loan is paid off, you will continue to have online access to your loan for 18 months. You will be able to access your Statements & Document section and review your Loan Information.
How It Works Select a date that is available for you to choose to payoff your loan.
You will receive a notification when your payoff statement has been processed and you will be able to view it in the Message Center where you can view and print your payoff demand.
Payoff Demand Statements are time sensitive documents the message will be auto-deleted in 30 days, encourage you to print save on your own device.
Get Started PayOff Reason Expected Payoff Date Please choose a payoff date within the next 30 days.
Submit
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| 09/30/2022 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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Good Morning, Please be advised, before reaching out to make a compliant I have reached out to the bank many times.
On XX/XX/2022, I noticed on my credit report that there was a issue with my mortgage company, when I called the mortagage company, Penny Mac at XXXXpm I spoke to a operator # 1 who informed me that the payment made on XX/XX/2022 which was process on XX/XX/2022 was sent to escrow and not towards the mortgage. I informed the operator # 1 that it was a mistake and that when I made previous payments I used the same method. She then informed me on how to make a proper payment, waive the late fee.
I then canceled the upcoming payments to avoid the same problem, unfortunately, when I tried to save it for the month of XXXX. I mistakenly entered a payment scheduled for XX/XX/2022. I called Pennymac to informed them of what happened, the operator # 2 then informed me same day transaction could not be canceled, and I would have to call the next business day. The next morning on XX/XX/2022, i called Pennymac bank and spoke to operator # 3 who informed me that I should have called the same day the transaction was made, I informed that I did and they should check there records since all phone calls are recorded. I informed her that operator # 2 told me to call the following day to have it removed. However, operator # 3 said it could not be done, and it would need to be process before the funds are sent back. I then asked to speak to a supervisor or manager. She reported no one was available and they were all in a meeting. I was extremely upset since I had a negative balance for the weekend and needed to make other payments. However, I took the Operators word, and confirmed the funds will be sent back.
On XX/XX/2022, I called my bank the money was taken out of and explained the situation. They agreed to overturn the overdraft fee. On Wednesday, XX/XX/2022 the funds were returned back, However, on XX/XX/2022 XXXX again took funds out, leaving my account negative. When i called, I was transfer to 4 different people who were unhelpful. 'Finally I spoke to operator # 8, she informed me she was not aware as to why the bank was taking the funds out and was not sure what to do. This is my mortgage company and now I do not feel safe with my funds, and I have to live check to check only to now be negative and be unable to make other payment to pay my bill.
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| 01/08/2018 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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Hello I 'm concerned Father, To start out on XX/XX/XXXX our XXXX year old son was diagnosed with XXXX XXXX, my wife has been off work since that day to be by his side and take care of him and get him back and forth to his appointments while I have been taking care of his XXXX brothers, and try to continue to work in XX/XX/XXXX my work went down to four days which put that much more stress on us.Around XX/XX/XXXX my wife met with a social worker at XXXX XXXX 's hospital and she was able to help us with a couple of bills through a foundation they have for families with kids that have XXXX. She got the papers summited to the XXXX XXXX the following week. I was having the check from the XXXX XXXX sent to Penny Mac where my house is financed and I emailed them on XX/XX/XXXX and told them the situation and how I wanted the money to be applied to my mortgage payment.The check from XXXX XXXX 's hospital was for XXXX and I wanted all of XX/XX/XXXX payment made which was XXXX and the other XXXX applied to XX/XX/XXXX payment and I would send the other part of XX/XX/XXXX maybe by then work would be picked back up. Penny Mac emailed me back on XX/XX/XXXX telling me they would do as I requested, I emailed them again on XX/XX/XXXX and ask if they had received the check they emailed me back on XX/XX/XXXX and said they have n't received it emailed them again on XX/XX/XXXX and they returned my email on XX/XX/XXXX that they still have n't received the check I emailed them again on XX/XX/XXXX and still they are telling me there is no check on XX/XX/XXXX they emailed me and told me a payment was made but they held it out of my checking account there was still no check. I emailed social worker at XXXX XXXX 's hospital and she got in touch with the XXXX XXXX and they was showing that Penny Mac had cashed the check from XXXX XXXX 's hospital on XX/XX/XXXX but I 'm still told they have n't received it. I was trying to do the right thing and make sure my house payment got paid and we did n't get behind or lose our home but Penny Mac still withdrew my payment from my checking when I really did n't have enough in there for them to do that and still have enough to live on. I am still wanting to know where the XXXX check is and want it applied to XX/XX/XXXX payment and part of XX/XX/XXXX please help my family out with this. I will try to send the copies of the emails and check
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| 09/08/2021 |
Yes |
- Mortgage
- Conventional home mortgage
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
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Started the processing of Refinancing my existing mortgage with PennyMac in XX/XX/2021. I locked in with a rate of 2.874 % paying .8 % origination fee ( {$3300.00} ). The loan estimate was accurate.
I received my closing disclosure in mid XXXX which reflected an origination fee of 2.7 % origination fee ( {$11000.00} ).
Needless to say, I was completely shocked by this {$7800.00} increase and no one from PennyMac bothered to call about this increase. I would have expected to receive a Revised loan estimate and a call from the loan officer / processor to say what caused the change.
After contacting the loan officer, I requested a {$6000.00} lender credit. I wanted a credit for the full difference but they would not do that. I was verbally told that the Sales manager approved the lender credit. However, when I received the final CD prior to closing, the lender credit was NOT included. On the day of closing, I had to call back again to get that corrected. The correction came back with only {$5500.00} instead of {$6000.00} as previously discussed. Per the Sales manager, {$5500.00} was the limit of what they could do.
In summary, The XXXX process was completely ignored on my loan. To learn after 60 days with not phone call or email, that your fee increased by {$7800.00} is completely wrong.
In addition to the XXXX origination process issue, the appraisal process was also poorly handled. An appraiser was assigned and showed up as expected. The house was under renovation and the appraiser had a hard time figuring out how to appraise the property. We discussed the renovations and offered to provide estimates of any work that she deemed necessary to meet the inspection requirements. Two weeks pass and the appraisal is scheduled for delivery and I receive a text message from a second appraiser requesting a date to inspect the property. The first appraiser completely bailed on the project and PennyMac was completely in the dark about the situation. When I contacted the processing team, they had no idea what had happened. They suggested that I contact the appraisal company to find out. This is NOT my job.
Anyway, after another 10 day delay, the second appraiser did a great job and was successful at delivering a viable appraisal.
We did close on the the end of XXXX, but it was the most painful mortgage experience that I've ever been through.
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| 06/29/2022 |
Yes |
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- Trouble during payment process
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Web |
Older American, Servicemember |
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We refinanced our home in XX/XX/XXXX. In late XXXX our insurer billed our new mortgage company for the annual premium. our mortgage company paid {$220.00} of the {$1600.00} annual renewal out of escrow funds.
We started getting notification from the insurance company that unless the balance due was paid by a certain date, the insurance would cancel leaving our VA mortgaged home without coverage. The insurer also notified the mortgage holder to the best of my knowledge. I called the mortgage company and talked to a customer representative who advised me that is how they did things, pay by the month on insurance, etc. that sounded strange to me. our mortgage company did nothing, I received a letter from the insurer of their intent to cancel which I scanned and sent to the mortgagor. They paid the remaining balance almost immediately. the dates involved are XXXX XXXX thru XXXX XX/XX/XXXX.
the mortgage company sent a letter to me requesting verification of coverage during that time period.
when we were told the policy had in fact been cancelled we paid out of our pocket to reinstate the policy a sum of {$130.00}. this was placed on a credit card. after the policy was paid in full by the mortgage company from escrow funds, we were reimbursed by the insurance company.
we kept getting letters from the mortgage company stating they needed coverage verification or they would charge {$100.00} for single interest insurance for those 17 days.
we kept calling trying to get someone online to address this fiasco, we talked to several people, some told us we were ok, that was just a form letter, some told us they were opening a research task and would notify us of the results.
this continued from XXXX until XXXX, at which time the mortgage company charged us {$100.00} and took the monies out of escrow funds.
I am concerned that the mortgage company did not pay the annual insurance renewal when it was billed, that they are trying to hold me responsible, and that their customer service representatives are not as knowledgeable as they should be.
the insurance providers correspondence states that if the mortgage company pays the bill from escrow the mortgagee doesn't need to do anything else, and in the mortgage companies escrow logs they state that they are the responsible party for paying the bill on the customers behalf. I took them at their word.
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| 11/23/2019 |
Yes |
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- Trouble during payment process
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Web |
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My complaint is about my mortgage company, Pennymac Loan Services, not processing my payments. On XXXX XXXX XXXX, we called in a payment as usual to the automated symstem for our XXXX due date.
At some point after XX/XX/XXXX we realized that the money had not been taken out of our account so we called Pennymac and they said that they had a note in the computer that it was it was called in on the XXXX but it hadn't gotten to the right department yet because they were backed up with their processing. We had approximately 3-4 more conversations before XX/XX/XXXX with Pennymac trying to follow up and they assured us that we would not be charged a late fee. However, on XX/XX/XXXX, we received our XXXX statement which reflected that we still owed for XXXX in addition to XXXX. We then called and spoke with a XXXX on XXXX. At that point XXXX rescheduled our XXXX payment for XX/XX/XXXX which we were later informed that it should not have been done that way as it made it look like a late payment. On XX/XX/XXXX we called back and spoke to XXXX who I think was the one who told us that the delay in processing was due to California fires which was also affecting many other customers but they were working on getting it straightened out. On XXXX we called our XXXX payment in to the automated system and it said payment was received.
On XX/XX/XXXX we called back again and spoke to XXXX since the money for XXXX and XXXX had still not been taken out of the account. XXXX said that they had a new system and were behind on thousands of peoples accounts, not just ours, and to give them 4-6 days to get it straightened out. We called back on the XXXX and spoke to XXXX and she said that they were still working it. We were worried about our credit being adversely affected and potential foreclosure proceedings being started since the statements still showed us being delinquent and Pennymac gave us no documentation that the delay was due to their systematic issues. Finally, we called back on XX/XX/XXXX to see if they would give us documentation to assuage our concerns. They said they could not generate anything like that so we let them know that we would be filing a complaint since we were aware of people having foreclosure started on them unjustly when they were verbally assured that their account was in good standing even though the statements reflected otherwise.
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| 06/09/2022 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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I had automatic payments to Penny Mac setup through my bank. In 2022 my property taxes increased and my auto payments were short. I was not getting proper notification in the mail and phone calls only left messages to call back about my account. About six months of payments missed and only about three actual email notifications. Most mail notifications from Penny Mac are to refinance, so I never called back. Eventually I did speak to someone who informed me of my past due amount. Every month was added on not only the extra amount for the shortfall, but also of the monthly late fees. I immediately paid the back amount to get my account up to current status. That person also informed me that the best way to stop this from happening is to setup auto draft through Penny Mac directly.
I setup auto draft at that time in XXXX of XXXX. Once again, in XXXX, the auto draft did not go through and I had a late payment. I then made again the steps to correct my auto draft from Penny Mac 's system. The system said I had a Scheduled Payment on XX/XX/2022 and the Status says " Scheduled. '' As of XX/XX/2022, the payment still did not go through. When I called, I was told my account was a " Suspended '' status and I needed to bring my account up to current for the auto payments to work. I brought my account up to current, and the XX/XX/2022 Scheduled Payment is still showing and yet in the One-Time Pay section, it shows I do not owe anything until XX/XX/2022. When I called an inquired about why my payment did not go through I was told two different things ... the first was that I can not setup auto payment with an amount due. And from another agent, I was told there was an issue with my auto draft and that money was not there ( an obvious lie ).
I am filing this complaint for three reasons - failure for proper notification of missed or late payments. And an auto payment system that fails to work putting me not paying my mortgage on time leading me into a false sense of security with a Pending Payment Status of " Scheduled '' when it did not go through, nor ANY notification that I can not setup auto payment with an amount due. Why is a system designed not to have a system for auto payment with amount due? Almost always will there be an amount due! And lastly, for lying to me about my account and my account status for failure of their system.
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| 06/14/2023 |
Yes |
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Web |
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On XX/XX/2023 XXXX and I were arranging a closing date to sell my house. We were scheduled to close XX/XX/2023. On XX/XX/2023 I received the following email from XXXX : XXXX, We are waiting on a payoff from XXXX XXXX XXXX ( who is the primary servicer for your HUD loan ) that is currently being worked on with their research department.
I am told this could take up to 10 days business days.
I am able to call on Monday for an update and will let you all know at that time if we will have it in time for Tuesdays closing or if we will need postpone closing.
I will keep you in the loop. Sorry for the bad news.
Since XX/XX/XXXX between XXXX and I at XXXX we have been on the phone with XXXX XXXX XXXX, HUD and XXXX ( where my loan is currently ) for several hours trying to get someone to release the lean on my mortgage in order for the title to be obtained so XXXX has the correct payoff amount and we can go forward with the closing on my house.
On XX/XX/XXXX I was also told by HUD to make a portal with then and I could receive the information that way. Below is the email I received from them : XX/XX/XXXX Thank you for contacting the FHA Resource Center, RE : Partial Claim - a HUD lien payoff request Dear XXXX XXXX, Thank you for contacting the FHA Resource Center regarding a HUD lien payoff request. Your Service Request Number is XXXX. The information below is being provided to XXXX XXXX XXXX, Your SMART Integrated Portal account request was denied : We do not have record of any outstanding partial claim/loan balance for this property. If you believe there should be, please contact your mortgage servicer. XXXX XXXX if you have further questions.
Please contact XXXX if you have any questions or concerns.
Thank you, HUD SIP Customer Service This is an automated message from the SMART Integrated Portal System.
This email was sent on Friday, XX/XX/2023 on XXXXXXXX XXXX All 3 business state they have no record of this and they all keep telling us to call the other business for the information. We have been going in circles and I was told today that I need a real estate attorney to get this done. This is costing me money I don't have with needing an attorney and still having to pay for my house since we can't close.
Is there anything else I can do in the meantime to try to expedite this?
Thank you, XXXX XXXX
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| 02/21/2022 |
Yes |
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- Trouble during payment process
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Web |
Servicemember |
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XXXX XX/XX/2021, I attempted to pay off my home 's $ XXXX principle. I logged into PennyMac.com website to accomplish this. PennyMac 's system accepted a XXXX daily payment of {$99000.00}. I paid this amount on XXXX XXXX then attempted to make my XXXX payment but their system wouldn't allow me to pay the remainder. I attempted several amounts until it accepted another $ XXXX amount ( XXXX XXXX ). The $ XXXX difference it would never let me pay so I phoned & after XXXX min of wait time I was able to speak with an agent. I was told I had to request a payoff amount to conclude the loan and it would cost? {$20.00}. I reluctantly accepted this ( twice as I recall ) but never received the payoff amount ( didn't verify but probably was charged the fee ). Disappointed & not desiring to spend the time or money to speak with another representative to try a third time, I decided to incur the incremental finance charges & let my monthly recurring deduction cover the XXXX XXXXXXXX balance ( PennyMac has been deducting XXXX XXXX monthly since the loan 's inception ). In XXXXXXXX, I owed ~ {$800.00} so expected their auto withdrawal would pay off my balance but PennyMac unexpectedly ceased withdrawing from my account. In XXXX, I received a notice that I was XXXX months behind in making house payments. I phoned again - spending my XXXX minutes with their representative. I attempted to pay to remove myself from the " Delinquent '' status but she was unable to accept due to only owing {$860.00}. She informed me she was going to request a payoff amount & it'd post in my account in XXXX hours. I shared the failure of this process in times past. She suggested I provide my fax number as this is apparently a more dependable process. I'm like most of the XXXX population that does not have a fax machine for personal use & find this a clear indicator of a business trying not to facilitate communication. So, I checked my online account for this payoff note but it was not there. Today, I had a person pull into my drive to take photos of the house at the request of PennyMac. I believe PennyMac is purposely making it difficult/impossible for their consumers ( me specifically ) to payoff their loans. I believe their motive is clear ( incremental interest billing, fees & fines, deed to a XXXX XXXXXXXX home where all but {$860.00} has been paid off ).
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| 06/27/2018 |
Yes |
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- Trouble during payment process
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Web |
Older American, Servicemember |
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I closed on my house back in XXXX of XXXX. In early XXXX our note was sold to a new mortgage company, named XXXXXXXX XXXX XXXXXXXX. I bought my home for {$150000.00}, with a down payment for {$4200.00}. I financed {$140000.00} for XXXX years at {$1000.00} per month. When XXXX took over my loan they first raised my monthly payment to {$1100.00}. I was told this was due in part to my homeowners insurance going up. I was told I that I only had to pay this for XXXX months and then my payment would return to normal. When the XXXX months came and went, I was then told that this was my new payment. In XXXX XXXX we received considerable damage from hurricane XXXX. I had made arrangements with XXXX for me to do all the repairs. I am a licensed XXXX XXXX and own my own construction company at the time. In XXXX of XXXX XXXX called me and talked to me about putting me in a new program they had, to help people with problems from hurricane XXXX. This program, as explained by XXXX is to help me by not charging and fees or penalties and have no affect on my credit. In XXXX of XXXX XXXX raised my payment to {$1900.00}. XXXX I was told it was because of my property taxes had gone up. I went to XXXX XXXX court house. I found out that my property taxes had not gone up. I brought this to XXXX. I talked to so many different people there. none of them were willing to truly help me. Then in XXXX of XXXX, I was told by XXXX that the real reason they raised my payment was that, the original company who created my loan, had made some major mistakes. That this will be my payment til the end. I did my research and was told by XXXX, XXXX XXXX and a company who specializes in checking the paperwork from the mortgage companies. That there was no mistakes made. Not when you have all of these protocols in place. XXXX refuses to help me. even when I do get someone there who tells me they will look into the matter for me, plus call me back. They never do. Now they tell me I am XXXX months behind, which is not true at all. I was told of their Loan Modification, which states I now owe more than when I purchased the house. I am a XXXX XXXX, XXXX because of an XXXX I had to XXXX early from contracting. I am on a fixed income. I can not pay their payment. I am also a XXXX father of a XXXX son. I will lose my home to a foreclosure. I need someone to help me.
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| 10/01/2021 |
Yes |
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- Struggling to pay mortgage
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Web |
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I elected to end my COVID-19 forbearance and request a loan modification. I did all the work involved in the loan modification process including all paperwork, check-ins, and made all trial payments. My loan mod was approved and my account with to return to normal servicing by XX/XX/XXXX.
To help mitigate the on-going hardship further, I applied and received a one-time only grant from the local XXXX non-profit agency. The amount of the check they gave me to send to PennyMac ( my loan servicer ) is not enough to pay the amount I was in arrears in full but the loan modification would solve that. These funds would help my ( new ) mortgage payment to be covered for the next 6 months while I rebound financially. I am earning less than half of what I was earning prior to COVID.
Even though the funds are not from the HHF program and I am not in a program that makes my mortgage payment for me on a continual on-going basis, PennyMac halted my loan modification and coded my account to HHF. They are unresponsive to my many, many phone calls and emails trying to understand what is going on and why this one grant amount would negate the loan modification agreement. They are completely unresponsive and say that I can only speak to one individual for answers to question because my account with PennyMac is coded as " HHF ''. They will not give me any answers about my loan modification or the rules in using another mortgage assistance source.
The loan modification process I started in XX/XX/XXXX was to conclude XX/XX/XXXX. Now, once they cash this 3rd party check, I will show that I am $ XXXX {$6000.00} behind on my mortgage and in a delinquent status when the APPROVED loan modification was to reabsorb the amount I was in arrears back into my loan. Why would a secondary source of hardship assistance be in conflict with a loan modification when the hardship isn't just about getting current with the loan- it is also about a reduction in incoming because of the pandemic which could put me right back in the situation of getting behind on payments?
The pandemic has been an unprecedented upheaval in so many lives unlike anything we've seen in any of our generations save for those still with us who survived the Depression. To make recovering from the impacts of it so tedious, so out-of-reach, so lacking in common sense is beyond me.
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| 08/26/2016 |
Yes |
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- Loan servicing, payments, escrow account
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Web |
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On XXXX XXXX, 2016 my home was damaged by a hail storm. Following the inspection by my insurance adjuster, I contacted my mortgage servicer, PennyMac, on XXXX XXXX, 2016 to initiate the claim process and determine what documentation would be required to repair the damage to my home. At that time the specialist informed me that I am able to act as my own general contractor and emailed me the claims package with the required forms and all documentation I needed to return. The specialist was very clear in her instructions, detailing all information I need to provide on the notarized Mortgagor 's Affidavit and as well as the information I needed to include the letter stating that I will act my own contractor.
Once all required documentation was collected and the claim checks received by the insurance company, I overnighted all information to PennyMac on XXXX/XXXX/2016. On XXXX XXXX, 2016 PennyMac received all documentation in the overnight packaged and proceeded to deposit the insurance claim checks on XXXX/XXXX/2016.
Based on the information I received from the PennyMac specialist on XXXX/XXXX/2016 and after receiving the insurance adjuster 's damage estimate, I began to make the necessary repairs to my home paying for the materials from my personal funds, based on the knowledge that I was able to act as my own general contractor.
I did not receive any correspondence or other communication from PennyMac with the status of my claim. On XXXX/XXXX/2016, I called PennyMac and spoke to another specialist who informed me that my account was in " Express Monitor '' status and the accounts payable department is in the process of creating your disbursement of the full amount of insurance claim. She informed that it can take 4-5 business days and advised that I call back on XXXX/XXXX/2016. When called back on XXXX/XXXX/2016, a new specialist informed me that more documentation was needed and I need to return a signed work contract, lien release and XXXX from a licensed contractor to get my funds released. The specialist said that I am not allowed to act as my own contractor. This is in complete contradiction to the information that was provided on XXXX XXXX, 2016. I 'm begin to occur interest on the out pocket expenses and not sure what recourse is available to receive the insurance claim funds that PennyMac is in control of.
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| 06/13/2023 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
Older American, Servicemember |
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We moved into a new home 2 years ago this past XXXX. The escrow, collected by Penny Mac, is included in the mortgage and we pay approximately $ XXXX in taxes. We had the sufficient funds put into the escrow account to allow for future taxes that had not yet been assessed. In XXXX of XXXX, we received a check for {$10000.00} for what they said was an overpayment of escrow. We called Penny Mac and verified that was indeed our money to spend. They had too much money in the escrow account and this was the refund. However, at that time, we also called the tax collector and was told that the property had yet to be assessed.
A year later we called to check to be sure all taxes had been paid. Well, it seems that Penny Mac had to pay 2 late fees.one for {$900.00} and another for {$300.00} because of their carelessness. Weve made many phone calls to this company to check on the taxes. They are completely incompetent.
On XX/XX/XXXX we called the company again to be certain that everything was paid and up to date. At that time, we were utterly shocked to hear we owed them the {$10000.00} dollars back they had mailed a year previously after they told us verbally it was ours to keep. We talked to them a long time trying to understand this error. We were told that THEY had made the error and THEY had trouble with the taxes. We asked to speak to a supervisor and was told we would receive a call back in a few days. NOTHING! No call nor a letter from XXXX XXXX explaining the situation.
This past month, we receive a new mortgage payment for {$750.00} more than the original payment, without any notification of this new amount. We are retiredI am XXXX and my partner IS XXXX XXXX XXXX. We dont have the jobs to go make an extra $ XXXX each month. This is unacceptable on every level.
It was their error and they are not novices to the mortgagee business! They didnt even have the courtesy to call or write to us about the situation. We dont have an extra {$750.00} each month and we dont choose to pay for their mistake for the next 5 years, which was their solution.
This is their responsibility and their error. We spent hours on the phone with this company and it was never satisfactorily resolved. There was XXXX communication from the company to us on how to correct the problem. We are looking for assistance.
Thank you, XXXX XXXX
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| 03/29/2016 |
Yes |
- Mortgage
- Conventional fixed mortgage
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- Loan servicing, payments, escrow account
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Web |
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Penny Mac is a servicer to XXXX XXXX 's customers. This will never happen. XXXX XXXX XXXX prepared my Home Modification, not PM. This PM business is to offer a quality service and this will never happen. This Home Mod was about XX/XX/XXXX or XX/XX/XXXX. Since PM became a servicer of my loan, which is to be forwarded to XXXX XXXX, XXXX has been my total nightmare. They are all snakes in the bushes, when they smile, they rattle. The criminal acts that have been against me has escalated out of control. Firstly, they found out about my age, threaten to foreclose, stolen my social security check, ( they transferred my money back with a fight and the name of that woman is XXXX ), racketeering, false pretenses, violations of laws, my civil rights, personal property, forgery, demanding I walk away, per XXXX XXXX and PM. Then, PM contacted the IRS, without my permission, on an enquiry, if I owed any taxes and of course, it was negative. Another evil act. Comes again a letter from last week, indicating that my XXXX anniversary is coming up and I will be receiving {$5000.00} off the balance of my loan and this was another oversight. Another lie. Today, in the mail, I receive a stupid document outlining that they are investigating my complaints and will be in contact in a month. I have received these same stupid documents and what follows is a, " Dear XXXX '', without prejudice, in other words. They are failures and always will be. There are so many lawsuits against them, it is sickening. This alleged business needs to be prosecuted to the fullest, license revoked and doors closed permanently. Their business practices and employees are the worst of the worst. Again, I want my {$5.00}, per month, times 24 months, which was for a certified return receipt that I had to pay to submit my payment every month, which is unlawful. I had been in contact with various businesses and this was unacceptable. Never an apology, sympathy, gratitude, respected, etc. I detest PM, who have destroyed my life.
XX/XX/XXXX, I had requested the balance of my loan and it was around {$38000.00} and now it is about close to {$40000.00}. There is another fraud and more criminal offenses.
I want CFPB to publish this all over the web. I want the viewers to read how bad they are and what acts that occur against the innocent. I want my justice.
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| 03/16/2023 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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I refinanced my two rental properties, both single family residences that I used to live in, through PennyMac in XXXX. Between XXXX and XXXX, I transferred ownership of these two properties to an LLC as a separate rental property business, which I confirmed is allowed by my refinancing as a XXXX XXXX loan because my husband and I are the only two beneficiaries of the LLC. I confirmed this with an attorney, and with PennyMac prior to transferring. PennyMac gave me their approval in an email in their secure message center online, which is the only way I have to communicate with them for a paper trail. They do not provide an email address. However, they delete correspondence from the message center after a period of time, I'm guessing two years. Luckily, I kept a copy-and-paste of it.
Now that I've transferred the properties officially, they are refusing to pay for the insurance and property taxes to the County because the name of the bill is in the LLC and they wrongly denied me the transfer.
At first, I received a message that said the transfer wasn't allowed, which contradicted what I was told prior to transferring. Then I called, and the person on the phone said the message writer was wrong, and sent it back to the same department to re-review. However, the taxes are now past due and PennyMac is sending me threatening letters accusing me of not insuring the property ( which is untrue ) and that they will select a hazard insurance policy for me because the bill hasn't been sent- but the bill has been sent by both the County and the Insurance Company in the name of our LLC. Their delay in recognizing the transfer is also delaying the payment of taxes and insurance.
I have tried following up several times but there is no email address, no one person handling my case, and the secure message center doesn't notify me when there are responses. When I call and talk to someone reasonable, there is no paper trail to confirm what was said.
If they proceed with forcing a new insurance policy on me, then I will be double-billed for the insurance, when this appears to be their mistake. I have sent documentation of all of this to them but they are not replying in a timely manner, and not honoring the terms of our agreement, nor their original message that approved the transfer. I feel stuck and helpless.
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| 10/03/2021 |
Yes |
- Mortgage
- Conventional home mortgage
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
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I spoke to an agent and let them know that my wife has lost her job around XX/XX/2020, around the time XXXX said that those who were not able to pay should contact their company ( mine being PennyMac ). I spoke with the agent letting them know that I would not be able to make the payment because I had to take care of my family since I was the only one who had any income at the time. I said I would not be able to pay until my wife got a job and had additional income, when I spoke to the agent and told them this they accepted. I had applied for forbearance and was approved. I had already paid for XX/XX/2020 did not pay XX/XX/2020, XX/XX/2020, or XX/XX/2020. I finally was able to get money to start paying again in XXXX so I called PennyMac again and told them that I would pay, the agent told me not to pay because I had to sign and notarize some paperwork, I did that and sent it back. When the agent received the paperwork the agent called me and asked if I wanted to pay the full amount upfront that I missed or if I wanted to pay at the end of my mortgage which meant that instead of 30 years it would be extended to 30 years 4 months for the missed months. Since I did not have the funds for the full amount I selected the end of mortgage option. The agent accepted and took the payment. I went ahead and made my payments after that I saw the normal price and an additional one which I found out was a lien on my home at a later date. I was in the process of refinancing my home and someone explained to me that I had a lien placed by HUD for about XXXX on the home that I was not fully aware of. On top of that, I am being charged a daily interest of XXXX per day on the home to pay it off before refinancing. When I refinanced with PennyMac before my cost was around {$100000.00} after paying for about 2 and a half years the cost has gone up past XXXX and I do not think that is right for me to be charged all this money unnecessarily when I spoke to the agent and had the understanding that the missed payments would extend my loan period by 4 months. How did I end up with a lien? Now I'm being overly charged just to try and leave this company. I am still dealing with the effects of the pandemic and this is not making life any easier. Not when I have done everything I can to not get myself into a more financial bind.
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| 01/26/2023 |
Yes |
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- Struggling to pay mortgage
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Web |
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Approximately 2021 mid late summer I had a loan modification completed, which I asked to refinance so that my payment could be lowered they told me that wouldnt help because my interest rate was low and I wouldnt be able to get that rate again. Then XX/XX/2021 I had a change of jobs with my income lowering and again they stated that refinancing my home loan in attempts to lower my payment because at this point it was choosing which bill to not pay to be able to pay mortgage, because a I didnt qualify for forbearance. I work in XXXX XXXX and for the first time got XXXX was out of work 2 weeks but beings it was a new job I didnt have enough PTO built up to cover my absence and was not able to return to work until cleared by employee health to return working. Up to that point I had been current on mortgage. But once hit that bump everything seemed to spiral down from there with unexpected financial drains such as having to replace tires on my car due to flats, totaling of a car, another car being taken, washer and dryer going out, plumbing issues that couldnt wait, having to pay child care when I asked what could be done they stated I could do a short sale but I would lose money, I was told I couldnt do a forbearance I wouldnt qualify and I couldnt do another modification because it was too close to the last modification ; mind you this was my place of residence. It led to filing bankruptcy to help get things caught back up, but when it didnt work as planned due my employment not carrying out a work order to re-filing and since so close automatic stay was lifted. The statement given for it to be lifted were false information stating taxes were not filed but they were, that I listed I payed an attorney more than I did but I never entered that information. When I called in attempts to get a reinstatement figure or amount owed they wouldnt give me this information. When I called the lose mitigation number I was transferred several times until finally someone that could speak to me when trying to figure out how they could help me to save my place of residence they stated the computer system wouldnt let them go forward and they had no clue why. I asked for more time in attempt to complete a short sale but the lender still to no avail has not postponed my foreclosure auction long enough for me to apply.
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| 10/05/2018 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
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- Incorrect information on your report
- Account status incorrect
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Web |
Older American, Servicemember |
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Complaint : PennyMac mortgage company has erroneously reported my mortgage payments late since XX/XX/XXXX until this date, XX/XX/XXXX.
Explanation : XXXX XXXX XXXX sold our mortgage to PennyMac in XX/XX/XXXX. They did not report any payments until XXXX of XXXX and immediately began reporting my payments as late. ( I have cashier 's checks receipts that will prove otherwise. ) I have only missed four payments, and when I knew that payments would not be made for certain months, I politely called, and asked if they could be put on the back end of my mortgage agreement. ( Please note : these payments were never in succession, but spread apart throughout the years. ) I was told that they would be put on the back end of the mortgage agreement, yet in XX/XX/XXXX, I received several " Intent to Foreclose '' notices on my front door, and through the mail. These are the very same months that should have been put on the back end of the loan as requested, and granted, or so I thought. To make matters worse, PennyMac hit me with over {$3000.00} in foreclosure costs. I applied for a loan modification that was approved in XX/XX/XXXX, and began my trial payment period in XX/XX/XXXX. PennyMac has reported these months, ( XXXX, XXXX and XXXX ) late as well to the credit reporting bureaus. I have bank statements to prove otherwise. I also have copies of cashier 's checks that date back to XXXX, when XXXX XXXX XXXX was then my mortgage holder. This will prove that I could not have been late when PennyMac took over as my mortgage company in XXXX of XXXX.
Just recently : Illegal Insurance Practices.
I and my family live in XXXX, NC, and have just come through Hurricane Florence that left many of us hurting. The area has been declared a Disaster Area from The President and FEMA. I also suffered damage to our home, and our insurance company assessed the damage at {$8000.00} of which we have received only {$950.00}. I am able to do the repairs on the home myself, but PennyMac has insisted that I get a contractor out to do the work for me. The remainder money has been taken by them, and is under their control for no apparent reason. They will not release the money to me without extended paperwork from contractors. No contractor will comply with their requests due it being illegal, which leaves our home in disrepair.
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| 08/11/2022 |
Yes |
- Debt collection
- I do not know
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- Attempts to collect debt not owed
- Debt was result of identity theft
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Web |
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Complaint and Demand for the Total Payoff signed by authorized officer from alleged owner of my alleged " debt '' On XX/XX/2022 someone filed electronically signed by XXXX XXXX ( likely a non-existing person ) acting as " PennyMac Priority Complaint Specialist, where he informed me that my alleged " loan '' was referred to foreclosure on XX/XX/2022.
I did not received ANY 30-days Demand letters from anyone or ANY Notifications that my alleged " loan '' was referred to any foreclosures.
According To the contrary, I received 5 consequitive letters from real Servicer, XXXX XXXX XXXX who offered me modifications and directed me to send my payments to XXXXXXXX XXXX During all time in question all correspondence and letters were mailed to me by other parties, not PennyMac who renters their name to other undisclosed to me parties.
Alleged " Notice of Default '' was mailed to me by XXXX ( owner of XXXX who forged fraudulent affidavit ) and XXXX XXXX XXXX, not by PennyMac or the alleged " owner '' XXXX XXXX.
XXXX XXXX has no records of any PennyMac activities as someone claims. Yet, XXXX XXXX is as of today listed as Investor for my alleged " loan - while someone claims that PennyMac is an Investor.
Foreclosures can be only ordered by the owner of my alleged obligation. As of today nobody provided any proof of ownerhsip or even existense of my alleged loan.
Again, I never received any 30 Days Demand letter signed by a Responsible Employee of my alleged Creditor.
I paid all my taxes and insurances while alleged " Servicer '' PennyMac '' did not even contacted me about it However, I found an alternative financing from a relative who wants to sell her property to help me to pay want tmy alleged " obligation '' in full.
I want to pay my alleged obligation in full and demand PennyMac to provide me a total payoff statement, signed by an authorized individual officer who is responsible for administration of my alleged loan, accompanies by a certified copy of my accounting ledger signed by the accountant who maintains it and make me an appointment with PennyMac 's responsible employee where I can deliver my payment, in certified funds, and pesonally handle it to PennyMac 's financial officer who will provide me a certified by the owner of my alleged obligation release of this alleged lien.
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| 09/03/2020 |
Yes |
- Mortgage
- Conventional home mortgage
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
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I had previously filed a complaint regarding PennyMac Mortgage but would like to add retaliation to it now. My initial iterations are noted in my prior complaint. XXXX with the priority complaint team did quickly call and was highly apologetic, so I did hold off on further complaints ; but did continue to send additional documents to a manager who was reviewing my application. It was quick to determine that the initial agent did review much of my file and had double counted about half of my debts along with not addressing other items such as transfers between my accounts. My gut feeling and general instinct from here, being that I had to escalate my complaints with their negligence ( possibly gross negligence ) and poor service, was that they would need to find a way to cover for their errors and poor care, or to find a way to retaliate against my complaints. However still curious to see if they actually would or not.
As my time has been pressing and PennyMac had already wasted a lot of it, I sought other lenders who I was not a current customer of. There the customer service was considerably better. They did stop to ask the right questions when needed and in only a few days they were able to get pre-approvals out and I have been able to move forward on my transaction. Additionally they stated to me that they could approve me for a considerable amount more than I was asking for. Their rate is the same that I was quoted from PennyMac but unfortunately I have more in fees as I'm not an existing customer. But unbelievable how much better and responsive the service has been.
Still waiting on PennyMac, though I am approx 2 weeks in with the other lender, but only really due to curiosity at this point ; to see if they will continue with the retaliation I had suspected. Again to try and cover for their initial errors and poor care and service or as retaliation for my complaints and sure enough, the mgr or whatever his position continued to play with why they had to double count items and rearrange other income of mine to note come up with the right amounts. All a conclusion I had expected several weeks prior and I was kind of grinning while listen to it actually play out. Just surprising that a company in such an important filed is allowed to operate with such little ethics or integrity.
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| 09/10/2021 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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My homeowner 's insurance was due on XX/XX/2021. PennyMac sent payment in the amount of {$4500.00} to my insurer on XX/XX/2021. They then subsequently sent another payment in the amount of {$4500.00} to an unknown insurance company. I have had the same insurance company for the past 3 years and have not changed insurance companies nor did I instruct Pennymac to send funds to another company. I have called and spoken to various individuals on the below mentioned dates.
XX/XX/2021 XXXX XXXX, XX/XX/2021 XXXX XXXX XX/XX/2021 XXXX XXXX XX/XX/2021 XXXX XXXX XX/XX/2021 XXXX XXXX XX/XX/2021 XXXX XXXX XX/XX/2021 XXXX XXXX
On each of these calls PennyMac has given me the run around. On one of the calls the representative called the unknown company ( XXXX ) and they informed myself as well as PennyMac that they returned the funds to PennyMac. PennyMac advised me on that call in XX/XX/XXXX that in 24 hours the funds would be returned to my escrow account. I called again on XX/XX/XXXX, and was advised that in 24 hours that funds would be returned. I called today at XXXX XXXX and the representative had put me on hold to investigate - when she returned to the call she appeared to not hear me and said " I need to call her back '' and hung up. She never called back. I called again at XXXX XXXX at this time this representative indicated that PennyMac is not responsible for my insurance. At this point I believe this to be theft in the amount of {$4500.00}. These funds were paid to PennyMac in Escrow and were removed without my permission and PennyMac refuses to reimburse me although they acknowledge the duplicate payment. They subsequently sent me communication dated XX/XX/2021 notifying me that I need to reimburse the Escrow account for the missing funds. I have requested on every single one of my calls that i would like to reimbursed for the funds that were taken out of my escrow account and sent to an insurance company for a policy that does not belong to me. On each call the representatives have acknowledged the mistake but refuse to solve the issue. My mortgage with the escrow payback is to commence on XX/XX/2021. It is unfair that I have to payback to PennyMac my own funds that they have taken. I am not sure what the legal recourse is here but i believe this to be unethical and illegal.
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| 09/20/2015 |
Yes |
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- Loan servicing, payments, escrow account
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Web |
Servicemember |
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PennyMac Mortgage offers a bi-weekly payment plan program to borrowers advertised as free. Intent of bi-weekly payment plans is to accelerate loan re-payment and substantial savings in interest for borrowers by effectively applying XXXX additional monthly payment per year. However, PennyMac ( and other lenders ) are taking advantage of borrowers and preying on their general lack of understanding of mortgages and principle balance interest rate accruals. PennyMacs ' practices take advantage of borrowers by not applying principle portions of the bi-weekly payments when they are received and holds them for two to three weeks while borrower accounts still accrue interest charges on the wrong principle balance. According to the fine print in the bi-weekly autopay agreement, they intentionally do this to profit the loan servicer as stated in Section XXXX, " I understand that Servicer may derive a benefit as a result of holding partial payments in its accounts during the period of time while a full payment has not yet been made. Any direct or indirect benefit that may be associated with any funds held in a partial account shall accrue to Servicer. I waive any right or any other related benefits that Servicer may receive. " Since my complaints, PennyMac also continues to not apply any additional payments I send in to the principle balance, when it is received - see attached. My additional payment of XXXX dollars was received on XXXX XXXX 2015. As of today, XXXX XXXX, it still has not been applied to the principle balance. I expect PennyMac to properly and promptly apply additional payments to principle when they are received. They actually pretend to not know how I want that additional payment applied!
Lastly, and since my previous complaints, PennyMac has recently started blocking third party personal finance software ( like XXXX and XXXX ) from accessing my account and downloading balance and payment and payment history information. If it was n't for this software I would have never realized that PennyMac was mismanaging my principle payments and I would not have discovered strange 'inspection ' charges to my account without my knowledge or permission. I am a XXXX veteran, this is a VA mortgage, and PennyMac should be ashamed and embarrassed for their predatory and deceitful behavior.
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| 09/22/2022 |
Yes |
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- Struggling to pay mortgage
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Web |
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PENNYMAC did an intentionally poor job explaining the COVID partial lien. Their message plays on repeat as the first thing you hear when calling in. It is pushed on consumers with no training given to the workers and no guidelines in place on what information to share with the consumer about what it is. The program is explained so intentionally poorly that I believed it to be lender based not government assistance. I took the help for 6-7 months while having my hours reduced, incurring childcare expense due to the pandemic issues, and while receiving uncertain and lower child support. When I was confident the situation was resolved, I called in to resume payments and was told I needed my ex-husband to sign loan paperwork. Not that it was simply tacked on to the end like I was told. Had I been explained anything instead of talked to like it was casual assistance from PENNYMAC, I would have had a $ XXXXmonth problem. Instead I sat with a {$7000.00} problem. For some reason and after doomsday level dramatic begging, my ex signed. I lodged a complaint internally with PENNYMAC and moved on. Shortly after, I started the assumption process. Turned in all the paperwork but it was denied because I had needed the partial lien. I was told to make some payments on time and try again. So I did and asked again. And it was denied because of the partial lien. Now I'm told I have to pay off the {$7100.00} in full to assume the mortgage which I now have 4.5 months ( per divorce decree ) to come up with. Single mom. XXXX kids. Had I been told with the first request for assumption, I may have had a chance to save but they waited until the last opportunity. Presented with " help '' from PENNYMAC because it benefited PENNYMAC but left me and my kids with a {$7000.00} problem. I can't assume it. I can't streamline finance it ( and if I could, it would be a massively larger payment because of the interest ). A refinance is not free and I'm not sure I'd even qualify. And again the interest would be insane ( while the partial lien is at 0 % interest ). This was " help '' to PENNYMAC for which PENNYMAC acted like the provider of for good PR and to get the government money themselves. They took advantage of my family and at a minimum did a phenomenally awful job that put my family in a desperate situation.
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| 12/10/2021 |
Yes |
- Mortgage
- Conventional home mortgage
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- Struggling to pay mortgage
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Web |
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I applied for an XXXX XXXX XXXX XXXX XXXX and I was approved. I was notified by the state that the amount that I was approved for was up to {$25000.00} and they were said to pay that to Penny mac in XX/XX/XXXX. At that time I owed over {$17000.00} Penny mac and the state both verify the amount with me but when it came time for the state to pay the actual amount because Penny mac saw the amount coming they said I was not in arrears anymore and the state program denied me. But I wasnt paid up and I have been working since XX/XX/XXXX trying to straighten it out with the state. The state blames Penny mac Penny mac blames the state Penny mac told me that the state had everything so messed up that they were sending {$200000.00} payments to single people and they were having to sort out the money to distribute it properly and that with all the money the banks were given as a bail out and the state was given to help us out Penny mac told me that they only service XXXX families from the state of Illinois program. So now Im really curious where did my money go that I was approved for because now they said I was denied because I owe more than the grant amount. I certainly wouldnt if my grant was paid on time because I was qualified for it at the time and the only thing that disqualified me was the fact that Penny mac said they saw the money there and that I was no longer in arrears. Anywhere that Ive worked my life if I made that big of a mistake I wouldve been fired and I dont really care if Penny mac wants to point the finger at the state or vice versa I want the money that I requested and was approved for dont think its fair that Im slipping between the cracks. I had a similar problem with XXXX XXXX because they werent in their office and didnt sign for my package that I sent on time in XX/XX/XXXX they denied me and now I have to start over from scratch which means that any backpay is no longer available I have XXXX XXXX XXXX XXXX and XXXX XXXX and Im really tired of getting the runaround and hope somebody reads this and understand the situation. I could not possibly be the only one that the state miss handled funds with. If you cant help me please help other people and keep an eye on our crooked state programs. If I didnt get the amount I was approved from where did it actually go?
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| 02/28/2023 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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At the beginning of XXXX XXXX I attempted to pay my mortgage online with PennyMac ( PM ) Mortgage. I discovered PennyMac 's website did not recognize my username and password. I attempted to recover my username and learned the PennyMac system had 3 different usernames for me.
I contacted PM customer service ( CS ), they explained I had several active mortgages in their system. Note : I only have one currently active loan with PM. I have had loans with PM is the past but had paid those loans off, sale of my home or refi that was paid off.
CS had me attempt to use each of the 3 usernames, all 3 showed account inactive on PM website. CS escalated my issue to the next level of CS, the higher level CS agent attempted to solve my username issue but was unsuccessful. He stated he would contact me on Friday, XXXX XXXX, XXXX to assist me with a solution to recover my username. Unfortunately, I missed his call and he left a VM.
On XXXX XXXX, XXXX, I called the CS # left by the higher level CS agent. I had to re-explain my situation all over again. The CS agent could not recover my username, state they would escalate and never transferred me to a higher level CS agent. I had to take their survey at the end of the call to escalate to the higher level CS agent, XXXX.
XXXX had me create another username, so now I had 4 usernames. The new username did not work. XXXX claimed the PM website was defaulting to an old email address and work phone number even thought when I asked for a lost username recovery I received a PM recover process and code from current email which I've had for 15 years.
XXXX told me she would have to file a ticket with PM 's Web Team to re-set or provide a new username for me. XXXX stated she would call me back in 48-72 hours.
XXXX did not call me or follow up with an email.
On XXXX XXXX, XXXX I contacted PM CS for a third time, XXXX CS agent, told me he could see the notes from XXXX reporting the issue to the PM Web Team but could not see any other activity related to solving my username recovery.
I told XXXX I would be reporting PM 's failure to recover or provide me the opportunity to reset my username so I can pay my mortgage online and or retrieve my tax information for XXXX tax purposes.
Thank you for reviewing my case,.
XXXX XXXX XXXX
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| 09/08/2021 |
Yes |
- Debt collection
- Mortgage debt
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- Took or threatened to take negative or legal action
- Seized or attempted to seize your property
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Web |
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On XX/XX/2016 I entered into a consumer credit transaction with XXXX XXXX extending them my credit through my credit card. This consumer credit transaction was paid for with a finance charge and is the SUM of all charges and does not include a cash payment under the provisions of 15 USC 1605 ( a ). Also I put down a cash payment of {$11000.00} in a credit transaction in which is against my federally protected consumer rights. XXXX XXXX and PennyMac also violated 15 USC 1611. They willfully and knowingly failed to disclose information required under the provisions of 15 USC 1601. My information was illegally sold to a third party which is PennMac Mortgage. I never gave consent to PennyMac to contact me or have my information. PennyMac has failed to show original documentation because they were not there for this consumer credit transaction as they clearly disclose. A transfer of sale PennyMac says it common in real estate but common is not governed by federal law. In fact it goes against my consumer rights. I do not have a contract with PennyMac Mortgage, they were not present for the transaction and I do not owe this alleged debt. PennyMac only provides statements in which is hearsay. PennyMac continues to violate my federally protected consumer rights. I sent PennyMac a CEASE and DESIST and they have violated my federally protected rights under 15 USC 1692c ( c ). PennyMac threatened to Sheriff Sale my home which is illegal under 15 USC 1692 ( i ). They can not take legal action when its already paid for and no debt is owed. A contract requires the meeting of two or more natural minds, consent, consideration, and an offer has to be done. That was not done with PennyMac. PennyMac continues to use abusive tactics, and language to oppress myself the consumer. PennyMac has continued to destroy my financial reputation by reporting non public information that they received illegally and without my permission which is identity theft. I was not given the option to opt out of reporting under the Graham Leich Bailey Act 15 USC 6802. PennyMac can not deny my affidavit of truth, it must be answered by federal law. Its a statement of facts because I the consumer was the only one present for this consumer credit transaction. I am the original creditor for this transaction.
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| 06/01/2021 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
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- Incorrect information on your report
- Account status incorrect
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Web |
Servicemember |
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During the COVID hardship my family was heavily impacted, and during the XXXX and XX/XX/XXXX timeframe I was unable to work at my job and became behind on mortgage payments. I quickly was able to bring the mortgage current 2 months late but have only just recovered from some of these impacts, and am still recovering.
During this time my mortgage servicer had an automated COVID CARES act call center option that I selected to enroll in the Forbearance plan with phone confirmation, repeatedly, ( to find out later, apparently to no effect ). Once the loan was paid current I didnt think too much about it until I noticed a negative impact on my credit report. After seeing this I then called our mortgage servicer PennyMac Loan Services LLC on XX/XX/XXXX to re-enroll in the forbearance plan and to request the negative credit impact report be removed in accordance with the CARES act law.
On this occasion, XXXX, a senior loan servicer, took the request to remove the negative credit impact report from my credit and created a ticket with the credit department according to what I was told. I called again on XX/XX/XXXX and got in contact with XXXX where I was told I was in fact not enrolled in the forbearance plan, and that the credit report retraction was denied. I was then craftily steered away from trying to re-enroll in the forbearance plan. They stated that because I was and am able to make my payments, that I would not be allowed on a forbearance plan. I was denied until I became forceful on the call demanding that I be enrolled in the forbearance plan and read the letter of the law. I recorded this call.
I explained that my family and I had been impacted by the COVID hardship last year during the fall, and that I had tried to enroll in the forbearance plan repeatedly. I explained that I can make my payments but simply want to remove the negative credit event from my credit report. This was repeatedly refused, even after explaining that the hardship impact had begun last fall, and was related, and to be legally compliant with the law, that they needed to remove this negative event. They refused. My family needs to move, and I need to get a new mortgage in another state. With a negative credit report, this will be far more difficult. Please help!
Thank you!
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| 03/14/2020 |
Yes |
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- Struggling to pay mortgage
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Web |
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My mortgage was current and then we had the government shutdown. Pennymac Sent me a letter advising I did not need to make payments. I relied on their letter and was unable to catch up but I did continue to make payments after they said I needed to start paying. Pennymac made statements in the letter that they did not honor.
( 1 ) " The forbearance plan will end XX/XX/XXXX at which time we will contact you to reassess your current circumstances and provide information on alternatives that may be available to you. '' - Pennymac never contacted me.
( 2 ) " At the end of the forbearance period, Pennymac will work with you to repay the amounts not paid during your forbearance period. '' - Pennymac has refused to work with me.
( 3 ) " We can review you at that time for an additional program to help bring your loan current, all according to your individual circumstances '' - This never happened.
Pennymac must have grown tired of the account remaining delinquent so they put me in Foreclosure. I never received a letter of intent to proceed from Pennymac. They put me in foreclosure and never formally notified me of such. They never provided me with a sale date. In fact when I asked for a sale date, they mislead me and tell me they don't know. I have called back 3 times to get a sale date and nobody knows ( so they claim ). I have to assume the sale date is XX/XX/XXXX since that is the next auction date.
Steps I have taken : I have called Pennymac at-least 5 times to work this out voluntarily with them. Each time they refuse to accept payments. They told me the only way to get a repayment plan is to apply for a loan modification. They knew I did not qualify and they were having me apply for something they knew I would never qualify for. During the review of the modification, I lost my eligibility for a repayment plan because my account went over 5 months delinquent. I offered to pay and bring the delinquency down and they refused to accept payments. They are putting me in a position where I am going to loose my home. They are not trying at all to help me retain ownership of my home. Maybe one of their executives wants it. At any rate, they have violated FHA Servicing Guidelines and I am the one that will loose my home. This should be illegal. Please help!
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| 10/12/2023 |
Yes |
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- Struggling to pay mortgage
- Trying to communicate with the company to fix an issue related to modification, forbearance, short sale, deed-in-lieu, bankruptcy, or foreclosure
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Web |
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XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX. After working diligently with Penny Mac, I was finally approved for a special forbearance in XX/XX/2023. They told me it would be retroactive and cover XXXX through XX/XX/2023. However, upon checking my credit report, it is not and my report shows I am behind on my loan despite their being a special forbearance. Today ( XX/XX/2023 ) I received a letter from Penny Mac stating they were removing me from my special forbearance plan for default of payment and " breach. '' When I called Penny Mac I spoke with a woman named XXXX who works in the escalation department. She told me that I was removed from my plan because I had not had a " monthly check in. '' She stated that they had tried to contact me and that my phone had been disconnected although it has not been. I even stated such and told her that if she looked at her caller ID it would show the number they have on record. When I asked her what number they called from as I was looking at my phone bill, she refused to give me that information as well. She then stated they had tried to call me on two other numbers, one of which was an old personal number, and one that was a previous employer from four years ago. I explained to her that I had not received any phone calls or emails from Penny Mac stating they were trying to contact me despite them having my current information. She told me that she would help me get back on the forbearance plan but that I would have to fill out the application yet again. I then asked her for her last name, and she told me she would not give me that information. I explained to her that I needed to know her name so that I could reference our phone call in the future or that I may need to contact her again. She again became hostile and stated she would not give me that information. When I told her that I knew she was being deceptive as I have talked to others who provided that information and began stating names of people in her department she said " fine '' and hung up on me. She did not help me through the forbearance paperwork nor did she send me a link to the forbearance paperwork in my email like she stated she would. I believe that Penny Mac is being predatory as they know I am injured and had to have major XXXX in XXXX.
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| 04/06/2018 |
Yes |
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- Struggling to pay mortgage
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Web |
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Two to three months ago I contacted PennyMac to inform them that my income decreased and I would not be able to make a payment ( before the payment was due ), this is where is conflicting of information started. One representative told me I would have to be atleast 10 payments behind for any foreclosure procedures to start so I should be fine ( that sounded odd to me ). I called back a week later when I received an automated call from PennyMac, I spoke with a rep whom stated I would be mailed a mod packet. I was denied for the modification, we are now into the next month and I make a payment ( still one payment behind ).
The mod rep calls me to let me know I am denied, I ask if there are any other payment options and she tells me to wait until collections commence ( which will happen after the mod denial ). I get another automated call and I call back the next rep I spoke to tells me I am eligible for forbearance, I told her no one contacted me and told me that so how was I supposed to know? She said if I accept the forbearance she would update my account and someone from PennyMac would call me in 3 business days. I am still wondering how was I to know about the forbearance if no one called, if I did not call I wouldn't have known.
Three business days go by no call. I call PennyMac again, a rep then tells me someone should be calling me in 3-5 business. Five business days go by and no one calls. I call back to speak to a rep and she says a mod packet has been mailed to you???? A mod packet I ask, I am waiting for a call regarding something different. I don't tell her it for forbearance but I did ask her to review notes on my account and tell me what has been documented from the last 3 times I called. She said she didn't see anything noted on my account about forbearance. I'm agitated at this point and ask to speak with a supervisor, she ask me why-I TELL HER BECAUSE I KEEP GETTING CONFLICTING INFORMATION EVERYTIME I CALL!!
Supervisor gets on the phone goes over my account and says he does see info about the forbearance being under review. He claims he called over to the forbearance department and someone will- '' WILL '' call me back early afternoon about my account. Well its the next day and I have not heard from anyone. This is ridiculous!
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| 11/09/2023 |
Yes |
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- Trouble during payment process
- Escrow, taxes, or insurance
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Web |
Servicemember |
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Up until XX/XX/XXXX, my VA-backed mortgage and escrow with PENNYMAC was XXXX XXXX. In XX/XX/XXXX while I was XXXX, PENNYMAC claimed that all of my insurance ( condo, home owners and flood ) had expired and as fiduciary and lender, insured me in such a way that my mortgage and escrow ballooned to $ XXXX. I called them, objected to the outrageous amounts and was told that my monthly cost would continue to be at this high rate despite me showing that I had other insurance. I was overseas and outraged at this criminally usurious rate but could do little from where I was, out of the country. When I returned, I sent them my condo associations documents ( in which insurance is always in place given residents are the condo board where I live and have never let it lapse ), XXXX documents showing coverage of both my home and for floods and they took a long time to acknowledge all of them, much less process them. While PENNYMAC finally decided to acknowledge XXXX home owners insurance in early XX/XX/XXXX, they would not accept the XXXX flood insurance policy until XX/XX/XXXX despite XXXX willingness to cover me for home and flood simultaneously. In addition, they waited until just a few days ago this month to accept my condo associations insurance as well, trying to draw out their usurious monthly rate until XXXX and beyond. Despite my text messages showing they had all of this information in XXXX and could have lowered my monthly bill for mortgage and escrow back to {$4000.00}, they are still charging me the usurious rate of $ XXXX that I can ill afford. I am effectively being charged double for the same insurance with PENNYMAC pocketing the difference. To even pay them this added fee for insurance, I have had to stop paying into my XXXX ( the XXXX ) for retirement. They should have a fiduciary responsibility to ensure I am covered, but not by seeing what else they can eke out of me and for how long. I am concerned that they will continue to charge me this {$4900.00} despite my showing proof of insurance in XXXX and beyond. I can not afford to continue to pay this high amount, fronting them $ XXXX and have a semblance of retirement on the horizon. I seek immediate relief and to have my insurance instituted and associated fees due and owing remitted to me.
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| 10/18/2017 |
Yes |
- Mortgage
- Conventional home mortgage
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Web |
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In XXXX XXXX I was aggressively contacted by Penny Mac Loan services, the originators of my mortgage, to refinance my mortgage with them to a lower interest rate. I dealt with XXXX XXXX, XXXX # XXXX California. He told me interest rates were at a historic low and I could refinance from a 4.1 % interest to a 3.5 % interest rate thus lowering my monthly mortgage payment. He also told me there would be no closing costs.
I competed the refinance of my property because XXXX sold me on the lower interest rate.
In XXXX of XXXX, I received a letter in the mail from PennyMac stating that my escrow account was overdrawn and I owed {$7300.00} to PennyMac to cover the cost of taxes. Penny Mac originally stated that the estimated taxes on my refinance were close to {$2000.00} and but now they are over {$5000.00}. When I reviewed my refinance, Penny Mac grossly underestimated my taxes in order to make it appear that I would have a lower payment. However, the estimate they used was not for a full tax year and they did not disclose to me how they came up with this number. I now owe them the escrow shortage and my payment is increasing {$300.00} per month. This is more than I was originally paying before the refinance with the higher interest rate.
I called PennyMac on XXXX/XXXX/XXXX to ask questions and explain that XXXX XXXX had mislead me. He knew the taxes were not accurate but he still used a underinflated number to make my payment appear low so he could receive his commission.
In addition, I was told there would be no closing costs, something I asked about several times. Upon examination of the refinance, it looks like the closing costs were rolled into the loan amount which I am now paying interest on.
This is clearly predatory loan practices considering that they did not disclose accurate information. As a consumer, I agreed to the {$2000.00} in property taxes and I trusted that XXXX was doing his due diligence to make sure my payments were accurate and correct. He was misleading on many levels and I should not be responsible for the {$7300.00} which is what the difference in taxes are from last year to this year. As a consumer, I was lead to believe that my taxes were a fair estimate and that there would be no closing costs to refinance.
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| 11/13/2017 |
Yes |
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- Struggling to pay mortgage
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Web |
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In XXXX, A near XXXX experience occurred during XXXX XXXX.
This caused for a 5 month delay in returning to work.
As I returned to work my pay had been reduced due to a shift change.
I became behind on my mortgage I formerly applied for mortgage assistance and none of the various servicers who bought my loan would reply.
I left the home and thought the home was foreclosed.
Last year I began to receive information from a company called Penny Mac. Turns out the home is not foreclosed after 5 years of non payment. I am in a better place financially and would like to keep my home. In XXXX XXXX, I began to inquire about mortgage assistance. I was told the only way for assistance is if the home was occupied again.
I paid $ XXXX to restore electricity, clean up home from XXXX, break ins, etc. I communicated with Penny Mac that we are reclaiming possession in hopes of a loan workout. NO FORECLOSURE DATE was scheduled. Due to the City of XXXX XXXX XXXX and Architects it took XXXX weeks to gain clearance for electricity Turn On.
I alert XXXX we are back in home and ready to start loan mod process XXXX advises the home is scheduled for foreclosure XXXX/XXXX/XXXX.
I immediately follow instructions from XXXX representative XXXX and sent in package complete with all items as directed XXXX and XXXX website checklist. I was advised that the foreclosure would be postponed once the package was received and a Special Point of Contact was assigned.
Last Friday XXXX p.m. XXXX, I was contacted by XXXX XXXX XXXX by phone advising Me that I should give Proof of Hardship within XXXX hours ( request by Investor ) That would mean gain medical records or something from XXXX yrs back over a weekend.
XXXX XXXX and XXXX advised me to contact CFPB in hopes of making sure that I am treated fairly. I am attempting to repay this debt and keep My Home.
I am told I am eligible for XXXX XXXX Funds IF the Foreclosure is postponed to give time for application process. I am told I should have been given a Forbearance of payments.
Bottomline, I ask for assistance for a postponement of foreclosure sale. I have followed the instructions of XXXX, take back possession XXXX $ XXXX invested ), apply for loan mod, and respond promptly.
Please assist Me in this matter
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| 01/17/2018 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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On XX/XX/XXXX, I contacted PennyMac to have our house assessed to have our PMI removed. In XX/XX/XXXX, our house appraised at {$350000.00} Since that time we have added a new roof, a new water heater, a new furnace, we have put in a {$2000.00} fence in the back yard, and housing prices have risen in general. We asked PennyMac to do a BPO and were told that someone would drive by and look at the front of our house and the back of our house from the outside and that the person would also pull comparable for houses in the area. The first time the BPO happened, the amount came back at {$320000.00} Upon closer inspection, it appeared the person who did the BPO did not even take photographs of the correct house, but instead photographed our neighbors house. In addition, all of the houses that were pulled as comparables had far fewer square feet and almost all of them were much older houses than ours, one up to 18 years older. We pulled some of our own comparables from our area that more accurately compared to our house and sent them to PennyMac, which put the value closer to {$400000.00}. In addition, we notified them that the BPO had taken photographs of the wrong house. We received a letter from PennyMac indicating that they were not going to change the BPO amount. It is preposterous to assert that our house value has gone down from XXXX to XXXX in the current market. Furthermore, the BPOs own document puts the average sale price in the last 3 months for comparable houses at XXXX. We believe this is a systematic problem with PennyMac in an effort to unnecessarily collect PMI when it is not appropriate. Our house only needed to appraise at {$360000.00} to have PMI removed and it is unfathomable that it would n't come back at that amount. What PennyMac is doing borderlines on fraud. After further research it appears that this is being a problem nationwide where mortgage companies are forcing the use of their own selected individuals to do BPO and appraisals and they are routinely and conveniently coming back under the amount necessary to remove PMIs. I ask the CFBP to investigate this systemic and nationwide problem so that consumers are not at the mercy of these corporate companies who have an incentive to keep the PMI in place. Thanks.
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| 10/04/2023 |
Yes |
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- Trouble during payment process
- Payment process
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Web |
Servicemember |
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For the last two months, Pennymac 's loan office in XXXX XXXXXXXX XXXX has failed to process my loan repayments in a timely fashion causing my payments to be late for which I was penalized for!
The first occurrence happened in XXXX of this year. I mailed my payment on XXXX for XXXX 's monthly repayment of my home loan. ( XXXX XXXX : XXXX ) When my check had not cleared my bank as of the XXXX of XX/XX/2023, I contacted PennyMac 's customers service department to find out what was going on! PennyMac customer service informed me that they were having problems with this office processing checks and suggested I submit my future payments electronically in the future to avoid this problem. I told them I did not wish to repay my loan in this manner! And they told me that my only other option was to resubmit my check for my missed payment! Again, I stated I did not miss my payment they misplaced it! But I told them I would resubmit my payment which I did on the XXXX of XXXX. I also cancelled my previous check numbered XXXX.
After reissuing my check for two payments to cover both XXXX and XXXX 's payments and cancelling the previous check with a stop payment. I was then informed by my bank that PennyMac attempted to cash my check after it had been cancelled!
In XXXX to avoid any further problems, I sent my XXXX payment on XXXX. To date, they have not processed my check and I have once again I have been charged a late fee for my payment!
I again contacted PennyMac to find out what is going on with the XXXX XXXX 's office and why my payments were not being processed in a timely manner. I was again told they were working through some problems with that office for processing payments. But I was still liable for any late fees occurred on my account! They again suggested to me to submit my payment electronically to avoid these problem 's! At this time, I requested a new address to submit my repayments to and they provided me an address in CA to mail my payments to! They only problem is that this company refuses to retract these late fees which are caused by their company and by their own actions they are affecting my credit rating in a negative manner!
For this reason, I have contacted your office for possible resolution to this matter.
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| 10/17/2018 |
Yes |
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- Struggling to pay mortgage
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Web |
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Hello,. In XX/XX/XXXX, I purchased my home at XXXX XXXX XXXX XXXX XXXX, VA XXXX. My mortgage became serviced with PennyMac. In XX/XX/XXXX, my husband and I began to run into financial difficulties. I applied for a loan modification in fall XX/XX/XXXX, I was approved. My paperwork and first payment for the trial payment plan for the loan modification was due by the end of XX/XX/XXXX. I sent in the agreement, and the first payment before the end of XX/XX/XXXX. In XX/XX/XXXX, I receive a letter stating that they never received my documents so the trial payment plan was cancelled. I did not make my payment in XX/XX/XXXX as I was trying to communicate with them to figure out what to do. Towards the end of XX/XX/XXXX, beginning of XX/XX/XXXX, my husband called the company to discuss that we did send everything in, and needed the trial payment plan reinstated for their mistake of losing our documentation. They refused, and continued to state that they never received it. In XX/XX/XXXX, we received documentation that our house would be in the foreclosure process. I even sent in documentation for the fax confirmation. They continued to refuse. I finally filed a complaint with the CEO, with the federal consumer protection, and with the XXXX XXXX XXXX. It was then that they called saying oh we will fix it. They refused to reinstate the old one, however, and made us put in a new application. We put in the new application and they did not approve it. We then got notice that our house was due to be auctioned in late XX/XX/XXXX. I filed new complaints with the XXXX XXXX XXXX and federal consumer protection, they then allowed me to send in another application for a trial modification, and postponed the auction. All this time, however, they have still refused to admit their mistake of losing our original documentation and have refused to reinstate our modification that was messed up due to their mistake. The new application was also denied. They said we could put in another application, but honestly, due to their mistake, I am so peeved and wish they would just own up to it and reinstate. I am at my last resort. My house is due to be foreclosed on XX/XX/XXXX. I am so close to filing a lawsuit, but figured I would reach out to you all first
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| 11/25/2022 |
Yes |
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- Trouble during payment process
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Web |
Servicemember |
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I contacted Pennymac bank in XXXX of XXXX to inform them that I had recieved a property tax exemption for XXXX, XXXX XXXX due to my XXXX XXXX disabled veteran status and requested next steps to get my mortgage Payment adjusted to account for the exemption The gentlemen took my information and information for the county and said give it a couple weeks, Pennymac will send a letter.
Approximately middle XXXX I followed up, this time I sent a copy of my exemption letter via Pennymac message portal. Again I believe I got a reply " thank you for updating us, allow us some time and we'll get back to you.
In XXXX or early XXXX timeframe I contacted Pennymac customer service to ask about status. I was told over the phone that the adjustment would be made once they got a bill from the county.
With that bit of information, I called XXXX XXXX to verify that my tax exempt status was in force and asked when tax bills are sent out. XXXX XXXX explained that bills are sent out in XXXX and XXXX. Therefore, Pennymac should have recieved a XXXX XXXX reflecting that status and been able to make the adjustment.
I asked the county for a letter explaining my exemption status, how much I had been taxed, and how much my future taxes would be ( XXXX given the exemption ). Once I recieved the letter, I forwarded it and the original tax exempt letter again to Pennymac in XXXX, along with an email explaining all the steps I have tried to take since then. It was at this point I realized I need to start saving every piece of correspondance -- correspondance attached ( it will be the XXXX time I am sending the original exemption letter. ) Since sending that letter, I have recieved a reply saying it was elevated to their tax department but still both my XXXX and XXXX statements reflect the unadjusted amount and I have received no other correspondence explaining why they can not make the adjustment or when they will be able to adjust for my Veteran Exempt status.
In short, it has been XXXX months since I first notified Pennymac of my status and request to adjust. Outside of standard form replies I have received no explanation of why they are unable to make the adjustment or what else ( if the XXXX letters are insufficient ) they need to fix this
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| 09/15/2023 |
Yes |
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- Trouble during payment process
- Payment process
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Web |
Servicemember |
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On XX/XX/XXXX I mailed my mortgage payment check for my XXXX payment ( due by the XXXX ). On XX/XX/XXXX, I received a call from a XXXX XXXX XXXX ( not PennyMac ). This made me call PennyMac. They demanded an over-the-phone payment and threated debt collector again, so I made my second mortgage payment for the month of XXXX.
On XX/XX/XXXX, five days after permitting an e-payment, I made my XXXX mortgage payment. THEN, on XXXX, they CASHED the check I mailed on XX/XX/XXXX. Now they have been paid twice for XXXX, AND I have sent payment for XXXX ... which they could receive and cash very shortly. So I called PennyMac again. I spoke with an agent AT LENGTH, and they finally acquiesced to return my money. I requested that this be returned electronically so funds would be immediately available, especially since my XXXX mortgage check could be cashed at any moment. I was told that he " expedited '' the fund reimbursement and that I should have my money within 3-5 business days.
On XXXX I call to follow up as I have not received an e-bursement, and I don't trust them. At this LONG call... .I finally get a supervisor, and discover that they MAILED a physical check that should be there in a few days. This is unacceptable, I need my money back before my other bills are due and they inevitably cash my XXXX check. Then I'm told that NOW I will have an e-bursement to my account in 24-48 hours, that they cancelled the physical check, and the same supervisor says he will call in 48 hours to verify that I have my money.
XX/XX/XXXX : by XXXX, no call and no money..so I call them. After yet another lengthy phone call, it is discovered that the e-bursement was DENIED. Fortunately ( I hope ), they did not cancel the physical check. So ... at XXXX I did a mobile check deposit, that still hasn't cleared ( naturally ), so I'm now late on my mid-month bills... .IF the check does clear.
Clearly they have a processing problem, as well as a customer communication issue. They held my money for XXXX WEEKS unethically. No one should have to work this hard to get their own money back when a mortgage company has made an error by creating lengthy processing of mortgage payments, then extorting money from the customer, then holding that money XXXX.
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| 11/27/2019 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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On XX/XX/2019 I made a regular mortgage payment plus additional principal paydown ( {$1300.00} + XXXX = {$3000.00} ). I have been doing this for the previous 14 months. The company ( Pennymac USA ) treated it as two monthly payments ( XXXX and XXXX ) and put {$200.00} as a principal reduction.
When I discovered this on XX/XX/2019, I called and wrote to them telling them that it was supposed to be XXXX monthly payment not two. They said that they would take care of it.
I called back on XX/XX/2019 and asked why it hadn't been adjusted. They advised that they would put in another request to have it adjusted.
With nothing done, I repeated called every few days and was always told that it was being worked on, but nothing was adjusted.
On XX/XX/XXXX, I made my XXXX payment plus principal reduction ( {$1300.00} + {$1100.00} = {$2500.00} ). The company treated this as a XXXX payment, charging me the wrong interest. Again, I called and advised and was told this would be corrected.
On XX/XX/XXXX, I filed a complaint with the Better Business Bureau.
I was then contacted by XXXX XXXX at Pennymac in their complaint department. I explained the situation and was assured that he would take care of this matter.
They then tried to fix the problem but applied my XXXX additional principal paydown in XXXX, resulting in them charging me too much interest.
I spoke to XXXX regarding this matter and he agreed they erred and would fix this.
On XX/XX/XXXX, they removed my principal paydown from XXXX, regular payment from XXXX, and principal paydown from XXXX, which now shows that I am in default for not making a XXXX payment, plus no principal paydown.
I called XXXX and advised. He said " Senior Management '' was working on it and it would be resolved by XX/XX/XXXX.
Nothing has been done as of today, XX/XX/2019 and I am receiving daily collection calls asking for a XXXX payment.
I called both Customer Service and XXXX ( Complaint Department ) on XX/XX/XXXX and XX/XX/XXXX with no results.
As the result of getting another collection call from Pennymac USA today, I fear that they will default my loan and also keep the money that was to be for an XX/XX/2019 paydown, as well as a XX/XX/2019 payment and XX/XX/2019 paydown.
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| 04/17/2020 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
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- Problem with a credit reporting company's investigation into an existing problem
- Their investigation did not fix an error on your report
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Web |
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Since XXXX, XXXX, I have worked tirelessly to resolve a straightforward credit reporting dispute with PennyMac to no avail. Communication to Pennymac over this period has included over a dozen phone calls, a half dozen faxes, and a written request for records.
Overview : In Q2 XXXX, PennyMac disabled my ability to make automatic payments and payment by phone and web when an automatic payment failed to process. This imposed a substantial burden upon myself, as under Pennymacs limited certified funds status, I was left solely with the option to mail cashiers checks, which I would not be able to do while traveling internationally.
On a XXXX XXXX XXXX phone call, I requested a Pennymac agent allow me to pay by wire transfer -- I was trying to make an effort to get payment in as soon as possible to avoid adverse impact to my credit report. Per account notes furnished by PennyMac, the agent ADVISED THAT [ PennyMac ] ONLY LIKE [ s ] TO USE [ wire transfers ] TO PAYOFF THE LOAN. The notes indicate that I informed the agent this was the only way I could make payment ( BWR STATED THAT IS THE ONLY WAS ( sic ) TO MAKE PYMTS ) and that the representative informed me I was would be in the limited certified funds status until XX/XX/XXXX ( ADVISED THAT MUST HAVE CERTIFIED PYMTS UNTIL XX/XX/XXXX ). Finally, the representative provides me with " payoff information '' and documents that I will wire that day.
Throughout my correspondence with PennyMac since XXXX, XXXX, I have maintained that they should not have reported delinquent payments to credit bureaus, as they did not provide me with a way to make payment.
In a XX/XX/XXXX letter enclosed with the production of records I had requested, a PennyMac representative erroneously states that the certified funds limitation was removed in XX/XX/XXXX, which is contradicted by the notes of the representative on XX/XX/XXXX : " My research confirmed that due to the number of returned payments received for your mortgage loan, PennyMac placed a certified funds requirement on your account on XX/XX/XXXX, and canceled your AutoPay. Further research confirms that due to the hardship the certified funds requirement caused, PennyMac removed the requirement as a courtesy in XX/XX/XXXX. ''
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| 05/19/2021 |
Yes |
- Mortgage
- Conventional home mortgage
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- Struggling to pay mortgage
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Web |
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Below is my copy the XXXX servicer.
XX/XX/XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX, CA XXXX XXXX Regarding : Account # XXXX XXXX XXXX XXXX Address : XXXX XXXX XXXX XXXX Ca XXXX Loan investor : XXXX XXXX Im not sure how far the predatory lending and financial abuse has to go and to how many government agencies I need to file complaints with, but if you do this to me you do to others.
I received a call today XX/XX/XXXX from XXXX XXXX XXXX who claimed that PennyMac spoke to the investor and I did not qualify for the forbearance extension through XX/XX/XXXX because Im late over 15 months, even though I have a letter dated XX/XX/XXXX from Penny Mac stating that I do qualify until XX/XX/XXXX.
The supposed reason for my POST DENIAL is that your company claims that I have been late 15 months. And if you want me to agree it is because YOUR COMPANY HAS refused to accept my payments from XXXX through XXXX OF XXXX with my ATM XXXX XXXX card ), If it wasnt for your companys refusal to accept my payments Im full within the timeline of the Cares Act that was extended until XX/XX/XXXX for the Pandemic Forbearance.
My next step after the call : I reached out to XXXX XXXX and spoke to XXXX who opened a new case in addition to that she shared that my previous ( complaint ) case with XXXX XXXX was closed because I had failed to submit my financial application to the servicer for the loan modification and that the last communication with PennyMac was on the XXXX of XXXX.
What happened to the application I faxed on the XXXX of XXXX??? why did you not provide that to the investor? I did provide the information for the Modification that was due by the XXXX of XXXX and your institution just refused to forward it to the investor.
Instead your predatory institution sent me a denial letter on XX/XX/XXXX claiming that I had withdrawn my modification request. WHEN DID I DO THAT?????
ARE WE BACK TO XXXX??
Dont be deceitful and dont lie to the investor.
I demand that this be solved immediately, As I stated on my prior letter to you MR XXXX I have my senior parents ( XXXX & XXXX ) living with me and I wont let you take our home from us.
XXXX XXXX CC : XXXX XXXX XXXX XXXX XXXX XXXX Attorney General
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| 01/21/2022 |
Yes |
- Mortgage
- Conventional home mortgage
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
Older American |
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I am in the process of trying to refinance a home using PennyMac. I have paid the down payment of $ XXXX for the appraisal, and in midXXXX XXXX an appraiser came to the home. He was here very briefly and spent most of the time outside. He took a few pictures inside and left, XXXX minutes outside the home, XXXX minutes inside. The home appraised for AT LEAST {$35000.00} below its value. This is because he appraised it as a XXXX bdrm, XXXX bath home with a den, when in fact it is a XXXX bdrm, XXXX full bath home. He missed taking a picture of the main water heater. He missed taking a picture of one of the bathrooms completely, and substituted one he found on the internet!! The bedroom was missed because he stood in the doorway to take the picture. After the appraisal was complete, I contacted the loan XXXX about the errors that were made. He asked for pictures of the rooms and anything the XXXX missed, which I sent, and promised to have their appraisal department look into it. This has not happened. My complaint with PennyMac is, they have ignored me, they've lied to me and they've cost me a great deal of money. I get inconsistent information from each person when they call, different closing amounts and different or no information about the appraisal. When I'm on the phone with them they don't listen, are rude, and talk over me. They are requesting {$38000.00}? {$34000.00}? be brought to closing, I don't even know. This is how inconsistent they are. This is ridiculous. I've asked them repeatedly to correct the appraisal and I am constantly getting the runaround. Today, XX/XX/XXXX for the first time they suggested I talk to the XXXX myself. This is not my job. They hired the XXXX, it is PENNYMAC 's responsibility to remedy the grossly incorrect appraisal that was done. Later in the day, another person called to tell me that Pennymac and myself have to accept the appraisal as is regardless of the mistakes, and that PennyMac does not have an " appraisal department ''. And further they have asked repeatedly for proof of funds to close, which I have provided repeatedly to different people. I took money from retirement, and paid taxes on it. I am regretting having done that, I am regretting having chosen PennyMac.
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| 03/18/2020 |
Yes |
- Mortgage
- Conventional home mortgage
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
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On XX/XX/20 and XX/XX/20 I spoke with a Penny Mac representative about refinancing my existing mortgage, which Penny Mac currently holds. They knew that I am a current Penny Mac customer. This representative plainly and repeatedly assured me that Penny Mac would meet or beat any other offer and, specifically, the offer I currently had from my credit union. I was trying to compare offers to make an informed decision about my most important asset - my home.
Instead, Penny Mac used a " bait and switch '' tactic. I made sure their representative understood that the reason I agreed to complete an electronic application with her and with a credit card payment of {$440.00} was because I expected that I had nothing to lose even if my credit union 's offer came in better the next day - even if it was better, Penny Mac would meet or beat it.
( I was anxious about this because the verbal rate quote of 3.1 % from my credit union was lower than the verbal quote from Penny Mac. ) The credit union provided me with loan specifics at the original rate of 3.1 % on the afternoon of XX/XX/20, which I emailed at that same time to Penny Mac 's representative for comparison. I followed up this morning, XX/XX/20 with an email and then a phone call.
The representative said she would talk with her manager, but came back and said they couldn't beat the credit union 's offer. I asked to speak to the manager ( XXXX XXXX ) ; I asked the manager to listen to the telephone recordings of conversations between me and his representative to verify my objection to this sudden inability to follow through on the offer that enticed me to sign their application and allow my credit card to be charged. He said they couldn't beat the offer, that they only promised to try and that my expectation was unreasonable because their mortgage company wouldn't make enough money off of my loan.
I sent three emails this morning ( XX/XX/20 ) directing anyone and everyone who contacted me about this refinance matter to STOP this process for going any further. I also placed a dispute with VISA to get my money back, but I would prefer that Penny Mac reverse the credit charge of {$440.00} without further delay. And I want them not to do this to anyone else.
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| 07/20/2023 |
Yes |
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- Struggling to pay mortgage
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Web |
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This is not a struggle to pay mortgage, but it's the closest option from the descriptions provided.
Based on the divorce decree, a court order was given to remove the ex-wife from the mortgage. I contacted PennyMac ( XXXX XXXX ) to start the process by end of XXXX. They asked me for the XXXX XXXX, XXXX XXXX XXXX XXXX XXXX XXXX, and 6-month Bank Statements. I sent all the required documents in XXXX of XXXX. PennyMac called me and asked me to remove the ex-wife from my personal bank then re-send 6-month statements. This required me to wait for 6 months after the removal of my ex-wife from the personal bank account. On XX/XX/XXXX, I sent the 6-month bank statements believing it was the last step, per PennyMac. PennyMac called me a few days later and asked for XXXX XXXX XXXX ( again ). On XX/XX/XXXX, I resent the proof of insurance thinking again it would be the last step. PennyMac called me and asked for {$100.00} to be paid to finalize process. I excitedly paid the {$100.00} believing it would finally put this topic to rest. PennyMac called me again a few days later and asked for proof of residency. On XX/XX/XXXX, I sent copies of Driver License, W2, Bank Statement, and a Bank Notice. On XX/XX/XXXX, PennyMac contacted me and asked for either a utility bill or a credit card bill. On XX/XX/XXXX, I sent PennyMac a credit card bill. On XX/XX/XXXX, PennyMac called me and asked for a utility bill ( even though they gave me the option between a utility bill or credit card bill earlier ).
I am now under the impression that PennyMac is intentionally putting hurdles in front of this process. During their calls in the last few months, they continued to offer me refinancing ( as a quicker way to process the request ). Of course I refuse to refinance during this period when rates are much higher - mine has been at around 3.275 %. I am losing trust and confidence in PennyMac and am not willing to fulfill further requests to execute the court 's order, because I believe I fulfilled all what they asked for multiple times without use.
I am not sure if this complain will help in persuading PennyMac to fulfill the court 's order especially that my ex-wife has been waiting for it so she can buy her own house. Thank you!
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| 06/19/2017 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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My name is XXXX XXXX XXXX XXXX XXXX XXXX, TX XXXX *Refinanced my adjustable XXXX XXXX to a 20yr FNMA fixed through a mortgage broker around XX/XX/XXXX. *PennyMac bought the loan # XXXX. *XX/XX/XXXX PennyMac performs an automatic withdrawal from my account in the amount of {$1300.00} for Home Owners Insurance Premium which they claim they did not receive from my XXXX XXXX agent 7 months earlier. They never tried to contact me to warn me, they just made the withdrawal. I called to reconcile, XXXX XXXX showed proof they had included the paperwork back during the refinance. PennyMac credited my account back the {$1300.00}. *XX/XX/XXXX PennyMac performs automatic withdrawal of monthly mortgage payment with an increase of {$300.00}. I called to inquire, the Escrow / Insurance department claims they were not aware of my {$170.00} per month HOA payments and requested a copy of the Master HOA Condo Policy and said they had created an " Extra Miscellaneous '' account to pay for this. They asked that I upload the policy to XXXX which I did that day. That was back on theXX/XX/XXXX. They said they would credit the {$300.00} back. *I have since twice filled out their " contact us '' section in my online account and heard nothing back. *Today, I call again and customer service tries to tell me that my escrow has a cushion of roughly {$1000.00} dollars and they do see the extra miscellaneous account that was set up, then proceed to try and negotiate a payment with me!? This made me very nervous, hence my submitting a complaint to your department. *I was a long time XXXX for XXXX XXXX XXXX in the XXXX department under XXXX XXXX and understand the relationship between CFPB and the banks. *I am speaking with XXXX XXXX in the PennyMac Escrow / Insurance department now and she is assuring me it was an error and is requesting an escrow audit on my account. She is not sure how much the credit will be as of yet and tells me I will receive a letter within the next week. *My concern is that this is the second time in 6 months that PennyMac has randomly charged me vast amounts to the account and then I have to initiate reconciliation. Let me know if you need any further details and thank you for the help! XXXX XXXX XXXX
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| 05/27/2015 |
Yes |
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- Loan servicing, payments, escrow account
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Web |
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On XXXX/XXXX/2015, I scheduled a XXXX time draft payment of {$470.00} to be deducted from my XXXX Bank checking account.
On XXXX/XXXX/2015, a double payment of {$940.00} was debited from my checking account causing my account to go into a negative balance. I immediately called PennyMac Mortgage Company. XXXX XXXX, faxed a request to XXXX for {$470.00} to be refunded to my checking account. Also, investigation # XXXX opened. ( To date, I have not heard any status on this investigation ).
On XXXX/XXXX/2015, Called again, spoke with XXXX XXXX at extension XXXX. Faxed the same request to XXXX to his attention.
XXXX/XXXX/2015, XXXX XXXX extension XXXX, she told me she would start the refund. She would call at XXXX ( EST ) for a conference all to my bank to vfy the debit would be honored, that no dispute was in process.
XXXX/XXXX/2015, I called XXXX at XXXX after receiving no phone call. She verified needed information with bank.
XXXX/XXXX/2015, Left voicemail with XXXX, no response.
Fees I am incurring so far ....
XXXX/XXXX/2015 Debit Memo {$6.00} ( {$610.00} ) Memo : SERV CHG XXXX/XXXX/2015 Service Charge {$6.00} ( {$600.00} ) Memo : SUSTAINED OD XXXX/XXXX/2015 Service Charge {$6.00} ( {$590.00} ) Memo : SUSTAINED OD XXXX/XXXX/2015 Fee eNotice {$70.00} ( {$590.00} ) Memo : OVERDRAFT ( XXXX AT {$35.00} EACH ) I explained to XXXX XXXX who seemed to sympatize with me that this issue is turning my world UPSIDE DOWN!!! I live paycheck to paycheck like many Americans in today 's society. My account is overdrawn. I have no money to live on, for gas, groceries, etc. I had to borrow money from family to pay my bills with MONEY ORDERS. I am incurring fees that I can not afford. THIS IS EXTREMLY UPSETTING AND THE COMPANY SEEMS TO MAKE NO EFFORT TO RESOLVE THIS OTHER THAN CALLING MY BANK TO ENSURE THEY GET THEIR FUNDS!!! HOW INSULTING!!!
I want a refund of {$470.00} for the payment that was debited from my account in error plus {$90.00} for the fees that I have incurred from XXXX Bank for my account being overdrawn. On XXXX, I was assured that I would receive a refund, it has been 9 DAYS!!!!!!! Each day I am so upset & stressed out. It 's just not fair that this company is getting away with this!!!
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| 01/18/2020 |
Yes |
- Mortgage
- Other type of mortgage
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- Trouble during payment process
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Web |
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I have made bi-weekly payments since prior to the Penny Mac company taking over the servicing of my loan. I have also always made my payments a month in advance and for more than the monthly payment so that I can have additional money go towards my principal. Since Penny Mac took over the servicing of my loan I have had one issue after another. My taxes were computed and calculated at over twice the amount that was due. My payment automatic withdrawal was then adjusted without my knowledge or consent to be raised even higher than what I was already paying ( with the additional amount for principal ) When I called I was told that was standard and that they would have sent me a notification for the increased amount later. That because I was in effect paying the month prior- that it was simply a mix-up. ( In fact, it appears to be a bad process that is poorly thought out and implemented ) Then I got that stopped. I was assured they would manually process both payments in XXXX so that they were made in time for my XX/XX/XXXX payment due date. Which they did indeed process them. Now, though I am told they were misapplied. I have also checked my account to see that they did not process the partial payment for XX/XX/XXXX as it should have been either. All of this has resulted in my being considered behind. Now I am again behind for this month because they did not process my payment in XXXX. This company is unprofessional and clearly has poor processes in place to ensure that accounts get credited timely and appropriately. When speaking with members of their customer service team they frequently are uninformed or make changes to my account that has unintended consequences. I am beginning to wonder if they are intentionally misapplying payments so that they can accrue additional fees in light of the fact that I clearly intend to pay this mortgage off early thereby reducing their profit off my loan. Calls to customer service continue to be stonewalled with low-level agents who are unable to make and or understand the changes that clearly need to be made. Now - here I am - dealing with trying to catch up when I have been paying all along. Seems grossly unfair, shockingly incompetent, and perhaps illegal.
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| 08/26/2018 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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The last complaint is number XXXX, I received a response from Penny Mac, on Friday, with their same standard format, indicating they are researching the matter. Based on their past history, this is what will happen, I will receive another standard format in the next couple of days and this is what it will say ... Based on our enquiry we found no evidence that we have done anything wrong. I sent you the copy of their statement and this is what they do to me twice a year. This is been a problematic and chronic. So, in other words it is okay with them to continue their wrath. You can review my previous complaints outlining the same issues. There will never be any enquiries, whatsoever. It is only a standard format, in order for them to follow the protocal, for the government. They have an overturn of employees.
I have pasted one of the links against PM, for your review. This is not a handful of complaints against them. The list is endless. Consumers have posted blogs and it is viral. I contacted a couple of law firms in XXXX XXXX and had spoken with them and each indicated without commenting on the litigation, if there were any class action against Penny Mac and guess what, there are and it is Penny Mac 's employees, who are the litigants. So, I asked, if they were whistle blowers and they replied, reluctantly, yes. I chuckled and replied, they will receive justice.
Did your bureau have any knowledge on the matter? If not, now you do. Now about me. This Penny Mac is ruthless, unprofessional, forgery, fraudulent, thieves, emotional distress, screaming at me, etc. I have uploaded my initial complaint, per XXXX XXXX and thus, as of this day, nothing is whole. I had never heard of this bureau, until XXXX XXXX referred had indicated that it was time for the foregoing complaints and this is not going to stop.
In addition, their extension numbers and web is ineffective. Do I care, no? They are disrespectful and arrogant. One of the employees, is XXXX. Bad news. All of my payments are through my credit union only, not them. They are not trustworthy. The evidence has been a ten year problem and they still have me in delinquency, as usual. They are a group of XXXX.
XXXX XXXX XXXXXXXX XXXX XXXX XXXX
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| 08/03/2020 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
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- Problem with a credit reporting company's investigation into an existing problem
- Problem with personal statement of dispute
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Web |
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Good afternoon, I, XXXX XXXX, S.S. # XXXX has had an issue with three of my accounts showing on my credit reporting status with XXXX, XXXX and XXXX ... I have a XXXX -- XXXX XXXX XXXX, XXXX, NC XXXX Credit Card that is not showing where I have paid since XX/XX/XXXX -- -Credit Card # is XXXX Exp. XX/XX/XXXX 4 digit code on back of card XXXX. I also have a second account that I am concerned about, which is my Mortgage which was closed on XX/XX/XXXX with XXXX XXXX and was sold shortly after to Penny Mac Mortgage that is not currently showing since I purchased my home ... Account Mortgage Number is XXXX -- -Address is XXXX XXXX XXXX XXXX XXXX XXXX XXXX NC XXXX and Penny Mac 's Address is : XXXX XXXX XXXX, XXXX XXXX XXXX CA XXXX -- -Mortgage Amount Monthly paid is {$1200.00} -- NEVER BEEN LATE!!! Also, a third issue not reporting on the Credit Bureau 's are my car payment with XXXX XXXX XXXX - XXXX XXXX XXXX, XXXX, AL XXXX -- -Account Number is XXXX of {$560.00} Monthly Payments ... NEVER BEEN LATE!!!
I would like to say that I went to XXXX since the COVID 19 - Pandemic to get a LOAN to help assist me with my bills since my husband 's job was depleted and unfortunately, they were going to give me a LOAN but said to me that nothing that I was paying MONTHLY was showing up on my CREDIT REPORT. I have been paying each of these LOANS ( Mortgage, CREDIT CARD, Car Payment ) for approximately 2 years each and NOTHING is showing up on my Credit Reports when they pull it. I was very upset and was not able to get additional funds to help me with my bills and would like for this issue to be resolved ASAP. I need assistance. I have a Fraud Alert from years ago of Identity Theft. I just need to show these reportings on all 3 Credit Files of GREAT PAY HISTORY : ) My telephone number is XXXX and my mailing address is XXXX XXXX XXXX XXXX, XXXX, NC XXXX. I sent over to all three Credit Bureaus a copy of my License, SS Card, Letters they requested when I could not reach them over the phone months ago to take care of this problem and I have not heard any thing back from them as of today and that's been approximately 8-9 months ago. I would appreciate if someone was to assist me immediately. Thanks in ADVANCE!
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| 11/11/2022 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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I am submitting this complaint against PennyMac, the servicer for a mortgage on my primary residence. PennyMac has erroneously force-placed insurance on my property, and I have been unable to resolve the issue with the mortgage servicer directly. The original mortgage amount was {$170000.00}. The current outstanding mortgage amount is {$100000.00}. The current value of the property is approximately {$270000.00}. Therefore, at this time the property has over 60 % of equity in it.
The property is located in a condominium building in XXXX XXXX, Florida. The property is fully insured to replacement value for all hazards under the condos master policy as required by Florida Statute 718.111 ( 11 ). The attached copy of the Certificates of Insurance for the property evidencing this coverage has been submitted to PennyMac numerous times via fax and email. The coverage amount is {>= $1,000,000} for the 72-unit building, which equates to each unit coverage for {$130000.00} which is {$33000.00} over the outstanding mortgage balance. The latest copy was submitted to PennyMac via email on XX/XX/XXXX, and confirmation of submission was received on that same day. However, on XX/XX/XXXX, a letter was received from PennyMac indicating the coverage information had not been processed ( see copy of letter attached ). As a result, forced-placed insurance in the amount of {$25000.00} was placed on my property on XX/XX/XXXX at an exorbitant cost of {$1500.00} ( copy of Forced Insurance attached ).
I contacted PennyMac several times by phone and email to discuss the misperception that my policy was not fully insured according to Section 5 of the recorded mortgage, copy attached. I contacted PennyMac by phone on XX/XX/XXXX, XX/XX/XXXX, and XX/XX/XXXX and spoke to agents for nearly one hour each time. I also contacted the servicer by email XX/XX/XXXX and XX/XX/XXXX. During each contact, I advised PennyMac of the existence of replacement value coverage and my ability to self-pay any damage in excess of that amount from personal cash reserves. However, the company refuses to remove the forced policy and continues to indicate my unit is underinsured. Assistance is requested to resolve this costly misunderstanding.
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| 04/25/2018 |
Yes |
- Mortgage
- Conventional home mortgage
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- Struggling to pay mortgage
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Web |
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RE : Civil No. XXXX ( 3 ). XXXX XXXX vs. XXXX XXXX RE : XXXX XXXX XXXX, DEBTOR CASE NO. XXXX COMPLAINT AGAINST XXXX XXXX./PENNYMAC LOAN SERVICING, LLC FOR VIOLATION OF AUTOMATIC STAY UNDER 11 U.S.C 362 ( j ) To : CFPB, FEDERAL TRADE COMMISSION , SECOND CIRCUIT COURT , COURT OF APPEALS , UNITED STATES BANKRUPTCY COURT , CENTRAL DISTRICT OF CALIFORNIA AND DEPARTMENT OF JUSTICE 1.XXXX XXXX./OR PENNYMAC LOAN SERVICING , LLC DID NOT MAKE ANY ATTEMPT TO STOP THE FORECLOSURE ACTION IN THE SECOND CIRCUIT COURT, STATE OF HAWAII Civil No. XXXX ( 3 ). XXXX XXXX ALSO DID NOT RESOLVED THE ISSUE OF THE COMMISSIONER, XXXX XXXX XXXX XXXX STOP HIM FROM COLLECTING RENT AT XXXX XXXX XXXX , XXXX , HI XXXX.
2.DEBTOR RENTED COUPLE OF ROOM TO SUPPORT HIS MORTGAGE TO PENNYMAC AND PENNYMAC ACCEPTING PAYMENT MORTGAGE UNDER DEBTOR BANKRUPTCY PLAN, SINCEXX/XX/XXXX
3.AS DEBTOR XXXX XXXX PAYING PENYMAC MORTGAGE, COMMISSIONER XXXX XXXX XXXX COLLECTING RENTAL INCOME OF THE DEBTOR, ONXX/XX/XXXXIN BEHALF OF XXXX XXXX OR PENNYMAC LOAN SERVICING, LLC, WHICH VIOLATES XXXX XXXX XXXXS AUTOMATIC STAY UNDER 11 U.S.C 362 ( j ) WITHOUT RESPECT TO DEBTOR OR FEDERAL BANKRUPTCY COURT.
4.ALL THE PROOF AND RECEIPT WILL BE SUBMITTED, AND DEBTOR IS GOING TO FILE CLASS ACTION AGAINST XXXX XXXX OR PENNYMAC LOAN SERVICING, LLC IF THIS ISSUE OF FORECLOSURE IS NOT GOING TO BE RESOLVED.
5. XXXX XXXX OR PENNYMAC LOAN SERVICING, HAS THE RIGHT TO STOP THE FORECLOSURE ACTION THE SECOND CIRCUIT COURT STATE OF HAWAII TO AVOID LEGAL ACTION AND TO CEASE XXXX XXXX XXXX FROM COLLECTING INCOME RENTAL OF DEBTOR.
6. XXXX XXXX XXXX, COMMISSIONER IS COLLECTING IN BEHALF OF XXXX XXXX OR PENNYMAC LOAN SERVICING, LLC WHILE DEBTOR XXXX XXXX IS IN BANKRUPTCY Case No. XXXX FILED ON XX/XX/XXXXAND DEBTOR 'S AUTOMATIC STAY WAS STILL IN EFFECT ON MONTH OF XXXX. THIS CASE IS DAMAGING DEBTOR 'S FINANCIAL AND HEALTH ISSUES.
Attached is Exhibit A, the proof of collection of Commissioner, XXXX XXXX, in behalf of XXXX, XXXX/Pennymac Mortgage Servicing, LLC XXXX UNDER PENALTY OF PERJURY DEBTOR XXXX XXXX IS TRUE AND CORRECT TO THE BEST OF MY KNOWLEDGE.
Sincerely Yours, XXXX XXXX XXXX ( XXXX ) XXXX XXXX XXXX XXXX , XXXX XXXX , CA XXXX XXXX. XXXX XXXX XXXX, HI XXXX
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| 02/23/2021 |
Yes |
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- Struggling to pay mortgage
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Web |
Servicemember |
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PennyMac Call Requests/Voice Servicing Call Requests provided to me were incomplete.
Loan # XXXX Regarding CFPB Compliant XXXX previously filed.
Missing - Pennymac did not comply with providing call logs specifically requested for and related to the following dates : 1 XXXX XX/XX/XXXX Spoke with XXXX 2 ) XX/XX/XXXX Transferred spoke with XXXX.
3 XXXX XX/XX/XXXX Loan Mod Paperwork Request 4 ) XX/XX/XXXX XXXX XXXX. Spoke with XXXX 5 ) XX/XX/XXXX Spoke with supervisor XXXX 6 ) XX/XX/XXXX. Spoke with XXXX.
My expectation is that PennyMac complies and sends me the above complete phone call/voice servicing logs that were missing from the CD sent to me.
Additionally, the following call logs/voice servicing logs are a new request made XX/XX/XXXX via two phone call requests and two website messaging requests. Additional follow-up requests will be made today, XX/XX/XXXX, using PennyMac 's website messaging system and via email to XXXX.
Pennymac has exhibited reluctance providing copies of phone calls/voice servicing logs, and answer questions related to the following dates, stating different requirements to fulfill ( such as going through online messaging or submitting a subpoena in order to request call logs ) 1 ) XX/XX/XXXX to XX/XX/XXXX a. XX/XX/XXXX XXXX at PennyMac transferred me to Modification Team b. XX/XX/XXXX Spoke with XXXX Customer Service. Transferred me to XXXXXXXX cXXXX XX/XX/XXXX XXXX transferred me dXXXX XX/XX/XXXX XXXX XXXX. XXXX with XXXX. Transferred me to loan mod dept ( XXXX? ) e. XX/XX/XXXX XXXXXXXX XXXX. XXXX with XXXX. Transferred me to loan modification dept.
f. XX/XX/XXXX XXXX XXXX XXXX with XXXX gXXXX XX/XX/XXXX Spoke with Customer service. Transferred call to loan modification team. ( Spoke with XXXX? In loan mod dept. ) hXXXX XX/XX/XXXX XXXX with XXXX in escalation Unit. Transferred me to loan modification dept.
i. XX/XX/XXXX XXXX with XXXX. Transferred me to XXXX in XXXX mod dept.
j. XX/XX/XXXX XXXX with XXXX. Tx to XXXX.
k. XX/XX/XXXX I spoke with XXXX at PennyMac l. XX/XX/XXXX XXXX XXXX. XXXX with XXXX at PennyMac Cust service My expectation is that PennyMac provide all of the new call requests, along with the previously requested call/voice logs.
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| 10/03/2019 |
Yes |
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- Trouble during payment process
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Web |
Servicemember |
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PennyMac, LLC claims to have interest in the property held in my name. I am a veteran and the property was purchased through a VA loan program. I am also XXXX XXXX from a tribe that holds it's sovereignty separate from the United States. PennyMac tried foreclosing on this house in XXXX and was unsuccessful through the state courts. This case BELONGS to the federal district due to my native status. XX/XX/XXXX PennyMac claims to have purchased the house for {$220000.00} and transferred the title to " XXXX XXXX XXXX , c/o PennyMac Loan Services . '' After the forensic audit was done on the mortgage and instruments it was found that the loan that PennyMac claims to have issued is VOID. There is no promissory note and since everything was filed through MERS there is no valid chain of custody for anything documenting the loan. This mortgage was sold into a MBS fund illegally after the closing date of the fund, which again makes the mortgage void - essentially turning the mortgage into a stock and can not be reverted back into a mortgage. By the auditor 's calculation, PennyMac and several other " loan servicers '' have been paid multiple times via this mortgage and continue to make money thought the stock into which it was sold. Since no company, especially a SERVICER such as PennyMac, can not prove ownership nor lending of any funds at all the mortgage is on at least four points VOID. All of these arguments would need to be satisfied by a Federal CourXXXX in which my tribe is named as a a defendant and loan proven to be issued by PennyMac Loan Services , LLC . None of this can be shown true in a Federal Court. I have overwhelming evidence to support everything I've stated and demand that PennyMac follow the FEDERAL LAW that applies to my house and this situation. Everything PennyMac has done, including harassment, violating/ignoring law, and abusing court process is illegal and the foreclosure that they have brought falls under all of these categories. PennyMac has received many letters from me demanding proper documentation on the loan, cease and desist demands, has been notified in writing of all the laws that protect me and my property and is fully aware of my veteran and native status.
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| 04/11/2015 |
Yes |
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- Loan servicing, payments, escrow account
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Web |
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I had entered into a loan modification with XXXX XXXX XXXX at the beginning of XX/XX/XXXX. By the time all the paperwork had been completed, PennyMac had purchased my mortgage and had began servicing the loan. The completed modification documents were submitted to PennyMac, after all the trial payments had been made, by XX/XX/XXXX according to the PennyMac records. There was no mention made of any missing documents or any problems with the paperwork. Shortly afterwards, I began receiving billing statements from PennyMac showing that I owed over {$2000.00}. I then called only to be told that the modification was still being processed and to ignore the statement. I began to regularly communicate with PennyMac loan services to which I was told repeatedly that the modification was being processed and to " give it another 30 days ''. When tax season came around, the XXXX showed that I had only paid approximately {$2000.00} in property taxes and insurance premiums on the loan. After finally contacting someone other than a CSR, I was told that a document was missing from the modification which was delaying the entire process, my credit would be repaired and that a Senior Vice President was working on correcting my XXXX form. I was only six days ago that I received a phone call from a PennyMac CSR whom informed me that PennyMac was issuing a Notice of Intent to Foreclose on the property when I had made all my payments, fulfilled the stipulations of the Loan modification and followed the advice from the PennyMac employees. AT this point, PennyMac has reported that I am approximately 16 months behind on my mortgage payments.
After doing some research, I discovered that this particular chain of events was anything but " happenstance '' as PennyMac has a history of following this pattern of action usually resulting in several of their clients having to file bankruptcy in order to distance themselves from PennyMac, XXXX XXXX XXXX, and XXXX. This is a clear violation of XXXX XXXX by practicing willful negligence by " losing '' loan modification paperwork while damaging consumers credit rating and proceeding with foreclosure proceedings against numerous consumers who are NOT a foreclosure risk.
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| 09/22/2023 |
Yes |
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- Struggling to pay mortgage
- Applying for or obtaining a modification, forbearance plan, short sale, or deed-in-lieu
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Web |
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In XXXX of XXXX I submitted a modification application due to increased expenses and decreased income over the current year. Upon receipt PennyMac requested additional information to support financial hardship from XX/XX/XXXX. I did not fill out my paperwork for hardship on XXXX. However I tried to provide information supporting hardship from XXXX. I provided W2 and wage transcripts showing a loss of yearly income from XXXX totaling a combined loss of income near {$78000.00}. I provided copies of bills and was told this wasn't sufficient. I asked what documents they were specifically looking for and was told a " bank statement ''. First I don't know what a bank statement is going to show and second I don't have a clue who I banked with in XXXX. When I questioned why they are asking for information from XX/XX/XXXX I was told because I was delinquent the first month the last modification payment was due. I explained by letter why I paid late after the modification in XX/XX/XXXX was I called to make my payment in XX/XX/XXXX and the agent informed me they had no record of a modification for my loan. At a later time I was informed that the modification wasn't approved until the trustee for my XXXX XXXX bankruptcy approved it. I was not making payments to them before they signed the modification. I again was asked to prove financial hardship in XX/XX/XXXX. I don't know how to prove something I didn't state I had in XXXX.
I would also I like to mention that I was out on a Covid forbearance for a year from XX/XX/XXXX until XX/XX/XXXX. They never offer a repayment plan or any of the option stimulated my the CARES Act and they pulled requesting evidence of financial hardship in XXXX when I applied for a modification back in XXXX. I got no help and finally was forced to pay the delinquent amount back in fill out of pocket which was over {$6000.00} and included {$1900.00} that was to be paid back in my bankruptcy plan. This was paid in XXXX and XX/XX/XXXX leaving me with {$0.00} in savings.
I have pulled the USDA loss mitigation guidelines and PennyMac is not following them and refuses to offer any assistance. If they are committed to keeping me in my home why are they playing games?
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| 07/03/2020 |
Yes |
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Web |
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I was preapproved for a mortgage loan with PennyMac. Initial terms granted me FHA loan 3.5 % deposit for up to $ XXXX financed. When I found my dream home and signed contract, PennyMac changed the terms on my loan twice due to errors they stated in their preapproval process and to accommodate my student loans that were placed in forbearance because of covid-19. I was told that my loan needed to be a conventional loan with a 5 % downpayment. Then, halfway through the process ( 30 days to close ) and after an earnest money deposit was paid, inspection costs, appraisal costs, moving expenses, etc, I was told that my loan terms needed to be modified again. This time to a 20 % down payment and paying off my auto loan. Ten days prior to closing, my loan officer stopped responding to my calls and voicemails. Whereas before I was able to reach him on his direct line and he would respond to my email within 24 hours, I have yet to speak with him again and today is the day before closing. Nine days before closing a voicemail was left stating my rate lock was expiring same day and I would need to pay an additional fee or start the loan process all over again. I contacted my realtor and she was able to get my rate lock extended without additional fees. I called and emailed my loan officer everyday for ten days prior to my closing date on XX/XX/2020. This is my second mortgage loan with PennyMac and the complete neglect and lack of professionalism and attention I received throughout this second mortgage process was negligent. I was supposed to close on my mortgage at XXXX on XX/XX/2020 and was told they needed to work on my loan the day before. An extension was granted until XX/XX/2020. On XX/XX/2020, I received a call from XXXX XXXX, a processing supervisor, stating that they ran my account several times and were unable to get me approved in the automatic underwriting system. They could not explain why or how I was previously approved and suddenly not.
I am displaced. I have no home. I sold my home in VA and moved to GA the week of XX/XX/2020 to move into my new home.
DO not use PennyMac to finance a loan for your home. I have a daughter who has been uprooted and displaced with me.
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| 12/15/2020 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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This problem relates specifically to the mortgage servicer, Penny Mac, incorrectly and irresponsibly attempting to force place costly private insurance on my already insured home. Lender placed insurance is an unfortunate necessity for loan servicers but it is exceedingly costly and should be more strongly regulated in its application by a lender and the price paid by a consumer. In this case, no insurance is needed and I fear the loan servicer is using this as part of a systemic abuse that places unnecessary costly insurance for financial gain.
I purchased a home this past XXXX. The home met all insurance requirements to originate the loan. In XXXX, Penny Mac acquired the servicing. XXXX was my first payment to Penny Mac. All payments have been made on time and no issues exist related to financial performance.
During the loan transfer, the loan servicer incorrectly input the maturity date of my insurance policy. Penny Mac sent a notification in early XXXX indicating they would force place insurance if I did not rectify. I immediately contracted the servicer via secure message indicating their error on their files, stated that I have the necessary coverage, and provided documentation of the insurance policy, coverage amounts and coverage period. This matter should have been resolved then and there.
Since providing that documentation on XX/XX/2020, I have not received any reply other than " we are reviewing your file ''. I have re-contacted Penny Mac 3 times and have not had this issue cleared. After a recent request for update, their last communication to me on XX/XX/2020 indicated " your loan is with our insurance group being reviewed ''.
Today, I received a second notice indicating they will force place unnecessary costly insurance on me if I do not respond. I have responded, I have provided the documents required, I have been the person intimating the activity to clear up their mistake. They have ignored my urging, even when indicating I would report this to regulators.
Therefore, I urge you, the Consumer Financial Protection Bureau, to help me, the consumer who has done what is needed. Please forward this to Penny Mac and compel them to do jobs.
Thank you.
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| 02/14/2017 |
Yes |
- Mortgage
- Conventional fixed mortgage
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- Loan modification,collection,foreclosure
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Web |
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PennyMac Mortgage XXXX XXXX XXXX XXXX XXXX, XXXX XXXX XX/XX/2017 XXXX : Loan # XXXX / Property Address : XXXX XXXX XXXX, XXXX, XXXX XXXX Dear PennyMac Mortgage Servicer : I am writing to request clarification concerning the recent XX/XX/2017 Billing statement which includes " Foreclosure Fees '' totaling {$1000.00} which were added to my XX/XX/2017 payment coupon.
In previous negotiations over numerous phone calls and correspondence, I was told in writing and verbally through your collection agents that there would be no Foreclosure fees, and in support of that fact I had requested a payment reinstatement letter showing what the final costs to reinstate my loan would be. ( See enclosed letter from PennyMac dated XX/XX/2017 ) After receiving this letter and getting a Monthly Mortgage Statement for XX/XX/2017 which stated that the " Total '' funds required to bring the loan back into compliance would be {$9600.00} which is the exact amount that was over nighted by certified funds to satisfy the demand for payment and was to include all late charges.
I believe I was deceived through verbal and written communication as to what was owed to pay back the past due amounts. I am protesting the amount of {$1000.00} which was added to my XX/XX/2017 payment coupon.
I am demanding that a full written communication be sent to me no later than XX/XX/2017, concerning the reason why I was told verbally over the phone on XXXX separate occasions ( Review your phone records as proof ) that no other fees would be assessed. And that as referenced on Loan Notice letter dated XX/XX/2017 : See Page XXXX of XXXX, ACTION REQUIRED, ABOUT YOUR REINSTATEMENT OPTIONS : Option 1, ( Enclosed ) That the full amount due would be {$9600.00} ( Page XXXX of XXXX ) and did not include or reference " Foreclosure Costs '' latter requested totaling {$1000.00} Please see that an investigation is immediately commenced concerning these added charges that I do not believe that I owe. Please be advised that mortgage payments for XX/XX/2017 will not include the added {$1000.00} which I am disputing, and a that a formal complaint is being initiated with the Federal Trade Commission.
Sincerely XXXX XXXX XXXX
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| 06/11/2015 |
Yes |
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- Settlement process and costs
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Web |
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My parents who are both deceased left this property XXXX XXXX XXXX XXXX, XXXX XXXX, FL. XXXX to me XXXX XXXX XXXX and it was foreclosed on XXXX XXXX, XXXX : Foreclosure paperwork was done. On XXXX XXXX XXXX my son who is not on the mortgage. This mortgage has been sold over and over. I try to do the modification for the XXXX 6 months with no success. I hired XXXX XXXXXXXX on XXXX XXXX, XXXX to do the loan modification for me. And the modification went through the trial. Then XXXX extra month of payment, then they put me through a second trial. Hopes of getting a modification. The payment went for {$710.00} ( 3 ) month, {$810.00} ( 1 ) month, {$1000.00} ( 1 ) month, ( 3 ) month {$1000.00}. Add it up with homeowner insurance. Had me jumping through hoops to get a XXXX point and wind mitigation inspection. Still did not accept the low cost insurance I found for myself. Helping families save their homes Act of XX/XX/XXXX XXXX. When I started out I told all the attorneys I do not want to lose my parents ' home and the family house with have both been in this family for over XXXX yr. I got a phone call this weekend about the insurance I put in tell me singe some page work that was email. But when I went to the email no paperwork was there. Last month I pay no payment because the later payment was paid in XXXX XXXX. I was toll look for the final modification papers in the mail by my lawyer, as of today I have not received any paperwork. Every payment has been more than the {$940.00} you see on this monthly mortgage statement that I will send to you when you ask for documents. Since I did the first complaint PennyMac has send me the new find modification with is unreasonable because I had a 30 years fixed rate 8.450 % at {$940.00} mortgage payment total left {$120000.00}. Now it 's up to $ XXXX and a 40 years payment {$920.00} interest rate 3.875 %. a officer to reduction of {$22000.00} the anniversary of your XXXX trial period payment date for three years. If I do not want principal forgiveness, I may have other modification options. Yes I would like to know what the other options are at this time. Did not give my time to take to a Real Estate Attorney to look this over.
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| 07/14/2015 |
Yes |
- Mortgage
- Conventional fixed mortgage
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- Loan servicing, payments, escrow account
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Web |
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My wife and I refinanced our loan on our house about 3 years ago through Mortgage Company Y. About 1 year later our Mortgage was purchased by PennyMac, my current Mortgage provider. When our Mortgage was originally setup we did not have an Escrow account as both our property taxes and home owners insurance is paid by us directly. We do have PMI on our mortgage which both our original Mortgage provider and PennyMac pay from my monthly payment.
PennyMac assumed they paid my home owners insurance so they cut a check on my behalf in XXXX XXXX. Then once their automated system saw that I had a negative balance, they assumed it was from my Escrow account that we never setup. This problem occurred when the mortgage was transferred to PennyMac, which they admitted and fixed. At no point in during my mortgage have I been late or stopped paying the exact same amount which was established at the beginning of this loan. However because of PennyMac 's error they charged me a late fee since my account showed a negative balance, this late fee causes issues because when their system pays my PMI, the balance continues to be negative. I have called PennyMac three months in a row trying to fix this in which they claim to do, but unfortunately each time I get a mortgage bill the error continues and they increased my mortgage payment, to fix the negative balance. During my last call on XXXX/XXXX/XXXX to XXXX at XXXX ( PST ). I was placed on hold for about XXXX minutes when XXXX said the insurance department was the only department which could fix my problem. I was placed on hold again for another XXXX minutes in which the individual who finally answered said they only deal with property tax and home owner insurance escrows. He looked at my account and said that I do not have an escrow account and that my insurance is good until XXXX. He apologized and said I would have to call customer service back. Funny Customer Service closed at XXXX XXXX, how convenient. I would like PennyMac to put loan amount back to its original amount which was established when I stated this mortgage along with crediting my account for all the late charges they put on it due to their mistake. Please help!
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| 09/19/2017 |
Yes |
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- Trouble during payment process
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Web |
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On XX/XX/XXXX I had a hose break under my dishwasher while we were gone and cause water damage to my home. I called my insurance company and reported the damage the following day. After waiting 22 days, XXXX XXXX XXXX sent me a check for the repairs of my home, for {$8100.00} which I received on XX/XX/XXXX. After being in constant touch with Pennymac, since the date of the flood, I had all of my required paperwork submitted and received by PennyMac. Upon receiving the check for repairs, I called Pennymac to find out what their procedures were with regards to me mailing them the check so that it could then be sent to my contractor. Per instructions, I overnighted it along with a prepaid overnight envelope for return.
Upon verification that Pennymac had received the check, I called to remind them that per the signed contract submitted by my contractor, he was requiring 50 % down.
The signed contract had been submitted on XX/XX/XXXX. Pennymacs own website states that it can take UP TO 3 business days to process documents. However, upon realizing that they had missed this, on the XX/XX/XXXX, they rejected the signed contract on the XX/XX/XXXX they rejected my contractors business license. Then they decided to send his XXXX to the IRS for proof of identification. On Monday, the XX/XX/XXXX, I was told his XXXX was being held up because it did n't have his home address. This was corrected and uploaded, and today I was told that his XXXX needed to have both company and personal address.
Let me add that my home is in forbearance and potentionally refinancing. When I informed Pennymac that from hence forth, all calls were going to be recorded by me, I was flat out told that Pennymac forbids recorded phone calls and I was then told " your home is in foreclosure, so what does it matter ''. When I informed them it was unlawful to move a home into foreclosure without informing the buyers, and to XXXX how well that worked out for XXXX XXXX, a Pennymac spokesperson called me back and assured me that there had been a mistake ; my home was not in foreclosure. In the mean time I have been without a sink, a single cabinet or floor in my kitchen and my basement remains gutted.
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| 07/24/2017 |
Yes |
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- Trouble during payment process
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Web |
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I had made a payment ofXX/XX/XXXX with it being a Saturday on Pennymacs website. The Pennymac had my credit unions information listed. On XX/XX/XXXX which is a Tuesday I had this emailed sent to my PennyMac confirming that my payment was processed and approved. From : **Automated Message** When : XX/XX/XXXX @ XXXX XXXX Re : Loan # XXXX Dear XXXX XXXX , We have successfully processed the Payment transaction scheduled for XX/XX/XXXX, for the amount of {$1000.00}. Sincerely, The PennyMac Team On Friday the XXXX I had started to wonder why the money was n't taken out of my bank. I had tried emailing and calling the company. When I had called the company the automated phone line had said that my payment was received and processed. I could n't even get a live person if I tried to. Today Monday XX/XX/XXXX I hear back from a representative saying my Subject : Payment From : PennyMac Loan Specialist When : XX/XX/XXXX @ XXXX XXXX Re : Loan # XXXX XXXX XXXX, Yes, we received the payment you made on XX/XX/XXXX and it was returned by your bank unpaid as " Account Closed '' on XX/XX/XXXX. Your account is still do for the XX/XX/XXXX payment. Thank you for allowing me the opportunity to be of service. XXXX I am confused on how a payment can be processed on XX/XX/XXXX with a confirmation and than today I am now first learning that it was sent back by my credit union. When I had contacted my credit union today they had told me that I have a active account also I ended up using my bill pay to send off the payment. I am now getting a late fee for a payment that I was n't made aware that was even late. I honestly do n't believe they would even told me anything. I also just received a notice saying my escrow is in the negative when I had enough money to make the insurance and tax payment. I just feel this company is out to get consumers. I am not the first and wo n't be the last to have this company investigated. I just want to make others aware of this company. This is the 2nd time I have used the site to make a payment and this happens. I can promise I will never use the site again and always use my credit union. Once I find a different lender I will be gladly switch over.
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| 10/01/2015 |
Yes |
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- Loan modification,collection,foreclosure
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Web |
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Basically, I have been misled by PennyMac Mortgage ( PMac ) Co. as they told me I qualified for Shortsale process at least 2 yrs ago ( which I have email proof ) but all the while, they were trying to get me to refinance the loan knowing that I did not want to refinance. PMac eventually offered me a " trial '' modification loan knowing I did not want the loan or could afford it. All XXXX buyers have walked away and now pennymac has said the house is slated for foreclosure sale in XXXX XXXX, XXXX.
SEE EMAIL excerpt sent to PMac from me below in parenthesis.
( I started this process back in XXXX XXXX. I have provided similar information to your company several times with timeliness and expedience on my part. I have over XXXX separate emails where I have sent this type of information to XXXX different Pennymac associates all regarding loan modification to approve for short-sale. I have had XXXX buyers walk away from the sales-contract due to Pennymac 's long processing time and inability to move forward. Both buyers would have gladly re-countered offers if time was of the essence but your company has not shown that it is. The latest buyer put a contract on the house in XXXX XXXX that met all the terms that Pennymac initially requested. Pennymac has waited 4 months to counter offer the closing percentage for this current Buyer. It is now XXXX XXXX, XXXX and Pennymac has not only changed the amounts to accept for contract sale but now is asking for more of the same documentation I provided literally years earlier. Pennymac has been unreasonable in its request and has not acted with sincerity in trying to accomplish the Short-sale. ) MY REQUEST TO CFPB : 1 ) Stop foreclosure proceedings 2 ) Convince Pennymac and FHA to agree to original terms pre-foreclosure for shortsale or, 3 ) Convince Pennymac and FHA ( investor ) to agree in accepting Deed in lieu 4 ) Have Pennymac write a letter to credit bureaus stating that missed payments were due to pro-longed short sale process and credit rating should not be adversely affected. 5 ) Provide support documentation on my behalf if lawyer and I pursue law suit.
I can provide supporting documentation at your request.
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| 11/13/2020 |
Yes |
- Mortgage
- Conventional home mortgage
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
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I was working on refinancing my mortgage through PennyMac. Mr XXXX XXXX was the loan officer for PennyMac. We agreed on the terms and locked a rate. I received a loan estimate document from XXXX on XX/XX/XXXX that broke down fees and other items. The fees included a " 0.02 % of Loan Amount ( Points ) '' for the amount of {$65.00}. After that I was working with Mr. XXXX XXXX from Penny Mac. This loan estimate stayed the same throughout the refinancing process steps. The loan was approved and a closing time, signing the loan documents through the Title agency, was set to XX/XX/XXXX.
On XXXX, eight days before closing, I received an email from Mr. XXXX that included the closing disclosure documents for me to review. The document was dated XX/XX/XXXX. I reviewed the document and all loan fees were similar to previous estimates, including the 0.02 % for points.
The documents to go through and sign, my wife and I, on the closing date on XX/XX/XXXX included over one hundred pages. I was aware that I had 3 working days after closing to bring up any issue with signed documents. So, I was doing my best to review the documents and sign without having to spend a whole day reading the fine prints. After we were done signing the documents, I realized that there was a change in the fee by changing the 0.02 % for points XXXX {$65.00} XXXX to 0.38 % ( {$1200.00} ). I called Mr. XXXX to discuss then followed by an email on XX/XX/XXXX and other emails later, On XX/XX/XXXX, Mr. XXXX replied by an email, basically stating that if I did not like the changes I could opt out of the deal. I felt this not fair and not legal to introduce a change at the last minute and the only option for me was to opt out with no guarantee that I would be able to lock a good rate. I did not do anything wrong, PennyMac did. I did not cancel thinking that somebody at PennyMac will for sure address my issue. Since then I sent several emails to Mr. XXXX and one final email and several phone calls to Mr XXXX, but I got no positive response and I was left feeling robbed and helpless.
I heard about your agency and I am reaching out to you to help me get my issue addressed.
Thank you for existing
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| 09/16/2015 |
Yes |
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- Loan servicing, payments, escrow account
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Web |
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My mortgage was transferred from XXXX XXXX XXXX to PennyMac USA in XXXX 2015. Upon receipt of my first statement from PennyMac, I attempted to set up an online account to access my information and make payments. I was able to set up the account, but was not able to log in due to a message that simply stated " Error. '' I promptly contacted customer service, who informed me that there was an issue with the Web site that was being addressed. As suggested, I waited approximately one week before attempting to log in again. At this point, I encountered the same error message, so I contacted customer service again to address the issue. I spoke to numerous representatives and was assured that the issue would be fixed and that I would be contacted with resolution. After approximately 3-4 weeks passed ( and I had not heard from anyone ), I contacted customer service again because I was still unable to log in to view my account information and submit secure online payments. I was informed that the issue would be forwarded to the IT department, and I requested that this process be expedited. Last night, ( 10 days after my most recent phone encounter ), I received a call requesting that I send a screen shot of the error message because the IT department was unable to retrieve it. At this point, I admittedly became frustrated because I had requested that the issue be escalated and it took so long to hear back from someone who still had no resolution on my issue. Last night and this morning, I followed the login steps to get to the error message, and I am completely blocked out of my account. The system is supposed to generate an e-mail containing a security code to log in, and I am not receiving these e-mails as I had prior. I have spent many hours combined on the telephone with technical support, and am not in a position to continue to go in circles with representatives that have no answers to offer. After two months, all that I know for sure is that Penny Mac is deducting the monthly payments. With no access to my account information, I have absolutely no idea what my account balance is ; I have absolutely no idea how ( or if ) my payments are being applied.
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| 09/24/2019 |
Yes |
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- Trouble during payment process
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Web |
Servicemember |
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We have had a VA Loan through PennyMac since XXXX. In XX/XX/XXXX, I received notice that our monthly payment increased from {$1300.00} to {$2300.00} due to an increase in property taxes and homeowners insurance. I called and they suggested submitting for a Mortgage Assistance program that would reduce the payment and bring the loan up to date. I submitted the application on line including the documents requested in late XXXX and was told to continue to pay the {$1300.00} until the Mortgage Assistance is approved or denied. I then called my insurance and changed the homeowner 's insurance which brought the payment down to a little over {$1800.00}. However, I did not hear anything about the Mortgage assistance, and then received a demand for payment for {$2200.00} as I was behind in payments. I called PennyMac about the situation. and was told the mortgage assistance had been denied and we needed to bring the account current as we were behind since XX/XX/XXXX. The denial was based on incomplete documents as they requested a XXXX and never received it. I had submitted in on line thru their web site. I was never notified of the denial. I brought the account current and was told the Mortgage assistance was not needed as the account is current. Further review of the latest bill indicated the amount in Escrow was over {$7000.00} and the monthly amount put in escrow is {$620.00} out of the payment. I called on this situation as the taxes and insurance totals around {$4000.00} per year. I was told that they had paid the taxes and insurance and they were being paid back for last year and this year. They gave me no further information.
I am wondering why there is so much being taken out of each payment and being put in Escrow as they should have been taking the taxes and insurance out since the Loan was initiated. I have never received a delinquent notice from the County or the insurance company. I understand PennyMac can only take about XXXX to XXXX of what they paid out last year for Escrow purposes. This is obviously much more than that and more than what is owed. That is the purpose of this complaint, that they may be illegally be taking money from me.
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| 01/14/2020 |
Yes |
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- Trouble during payment process
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Web |
Servicemember |
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After my loan was sold to PennyMac Loan Services from XXXX my monthly payment went up. I was provided with an Escrow Analysis from PennyMac and after I reviewed it I realized they make ridiculous projections in order to squeeze money out of the consumer. They had my city tax at projection less than what the previous year was. And they had my county tax projection at a 182 % increase. You would think a company who services mortgages would know how to do a proper analysis ( a simple XXXX search of my county of even using a state average would seem plausible and reasonable ). I called to get it adjusted to a proper and reasonable amount using actual data of previous tax year paid but you get connected with a customer service rep who is not qualified to deal with or understands an escrow account. And forget about speaking directly to someone within the Escrow department. After I did some research and found out that an escrow account is not required on my loan ( VA Loan ) or within any of my mortgage paperwork stating it was required I called them to cancel it. I was told they would submit a request and a approval/denial letter would be sent in the mail. The letter came as a denial due to two reasons ( 1.FICO score too low and 2.LTV ratio not met ). If they are going to make up policies and deny my request it should come with a copy of said policy. I called them again to see what either of these things have to do with me cancelling my non-required escrow account and was told it was due to the policies of the shareholders. Makes sense to me, they are a publicly traded company and focused on greed and profits. None of my paperwork states that I have to meet either of these requirements to cancel my escrow account. To further show proof they are incompetent ( or willfully increasing customers escrow account on purpose ) I switched my homeowners policy and was sent a refund of over XXXX XXXX dollars. I was told this money would need to go back into my escrow to cover my new policy being paid ( but it didn't have to be sent because of their unscrupulous business practices ). I had plenty in my escrow because I have been overpaying them to begin with.
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| 02/16/2018 |
Yes |
- Mortgage
- Conventional home mortgage
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- Struggling to pay mortgage
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Web |
Servicemember |
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Re : Account # XXXX payment history reported to all three major credit reporting agencies, which is encircled on the attached copy of XXXX report.
Based on my records, the 180-days past due occurrences reported as of XX/XX/XXXX through XX/XX/XXXX are inaccurate. These payments were suspended at Pennymacs recommendation during the process of setting up a trial loan modification and extension, as I was advised the payments must be delinquent and the loan in Default in order to qualify for the program and any missed payments would be added to the end of the loan. Pennymac then repeatedly lost the modification application paperwork submitted by us, requesting us to resubmit everything multiple times. We now know these activities were in direct violation of the Dodd-Frank Wall Street Reform and Consumer Protection Act. Once regular payments for this modified loan commenced in XX/XX/XXXX, I established a very strong record of punctuality through all 16 months of payments since. Payment s during the setup of the modification program should not be reported as past due, as they really were not even due. Furthermore, this loan was not opened with Pennymac in XX/XX/XXXX as reported to the agencies, but in fact did not start inprocessing until XX/XX/XXXX. Any payments after that date were held up at Pennymacs behest and were through no fault of my own ; therefore, these past due payment items reported to all three major credit reporting agencies must be removed immediately. Also, I have repeatedly disputed and requested verification and validation of this inaccurate debt for over two years now. Pennymac has responded only with improper verification form letters that provide no backup documentation or proof of this debt being mine, and require more information of me instead ( examples attached ). To properly validate a debt by law, a copy of the original contract signed by and obligating me to the debt must be provided to myself. Pennymac has negligently and willfully failed to validate this debt, and is in violation of sections 611 ( a ), 616, and 617 of the FCRA, 15 U.S.C. 1681i ( a ), 1681n, 1681o, subject to a {$1000.00} fine for each instance.
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| 06/16/2017 |
Yes |
- Mortgage
- Conventional home mortgage
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- Applying for a mortgage or refinancing an existing mortgage
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|
Web |
Older American |
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We spoke with Pennymac about mortgage rates and got a quote that sounded better than the one we had and were working on ( in the application process ). The first thing the guy wanted was our credit card for the appraisal. We did n't even have an application or Loan Estimate from them. But he said this was required before other steps could proceed. We gave him our credit card info. It was days before we got any other information from him, and we decided not to go with him because we had an uncomfortable feeling dealing with him. The Good Faith Estimate had fees that had jumped way above what he had quoted us. When we next spoke to him, he did n't speak in specifics but more in vague generalities and this put us off. On the evening of XX/XX/XXXX, our real estate agent emailed us saying he was unaware that we had swapped lenders. We told him that we did not change our lender. Although the Pennymac guy had sent us links to his application but we did n't sign it. Because of our deep discomfort with this guy, we did not commit to using Pennymac. A few days later, he called to ask what was up. We told him that we were going with another lender. At the end of this conversation, he said something about our calling to stop the appraisal - or something like this. The gist was that we had to do something in order to stop an expense to us. My wife 's recollection is that he had said that he would pull it, or void it or cancel it. Before I could ask more about it, he ended the call. On XXXX XXXX, 2017, we got an email referring us to a website from which we could download the " Property Valuation ''. This was a big surprise. The next morning, I checked the credit card and saw the Reservation of {$450.00} made on XX/XX/XXXX, but had not been " collected ''. We did not follow the link to the website to the point of accessing the " Property Valuation '', as this might have " accepted '' the service that we had n't pursued. My wife is very upset about this transaction. She ca n't understand how a bank would proceed with charging us for an expense without a signed application. She is only grateful that we backed out of dealing with this guy.
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| 12/20/2022 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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On XXXX XXXX, 2022 I received a letter from PennyMac stating that my property taxes on my XXXX property were overdue, and that I would be in default of the loan terms if not paid within 14 days. I paid the taxes on the same day of receipt, XXXX XXXX, and I paid them in full. As requested by PennyMac, I sent in proof of payment ( verified Credit Card receipt AND proof of payment from XXXX XXXX XXXX, showing that XXXX taxes were due on my property. I then received a phone call with a recorded message on XXXX XXXX, stating to call about my account. There were no details left, nor which property and I have XXXX loans with this company. Also, when I answered the phone to PennyMac, it is a recorded voice telling you to call them, and no human is on the line, On XXXX, when I was finally able to call and speak with a person, I was told that my taxes were unpaid. I explained that I had both FAXED and POSTAL mailed proof of my payment XXXX weeks prior. The service rep was able to fix everything but it too, XXXX minutes and am very concerned that because of this they will try to default my loan based on unpaid property taxes. How does such a gigantic company not update its records for XXXX month? I also believe that the company should have to leave detailed information about what the issue is and what property it is specifically. I also had received an email from PennyMac about the status of my account on XXXX XXXX. I called that day and the rep said there were no issues with any- all XXXX of my accounts. And then today, I get yet another phone call- robo call without any information- even though I answer the phone, you get a recording telling you to call them. The rep also said I had requested I have now spent several calls, hours and emails for something that should not have even been a problem. It is very frustrating and this can't possibly be good business practice. It causes extreme anxiety to threaten a patron with flawless payment history and had complied immediately to continue be told they will possibly default the loan and this company should have either more employees and have some checks and balances so this doesn't continue to happen.
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| 06/12/2015 |
Yes |
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- Loan modification,collection,foreclosure
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|
Web |
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I contacted PennyMac mortgage for deed in lieu in XXXX of XXXX. My home in Alabama had been on the market since XXXX of XXXX ( now over 28 months ), I suffered job loss in XXXX of XXXX and moved to Texas for employment in XXXX of XXXX. The home is located in an economically depressed area and I have not been able to sell.
Before I could be considered for deed in lieu I was told by PennyMac that I first had to apply for modification ( denied in XXXX of XXXX ). I was then told that I had to apply for a short sale before I could be considered for a deed in lieu. Both the deed in lieu and short sale were denied in XXXX of XXXX based upon their XXXX XXXX appraisal. However I continued my attempts to avoid foreclosure by listing the home which failed inspection by a potential buyer in XXXX XXXX which I provided to PennyMac. I subsequently obtained my own appraisal in XXXX XXXX which the PennyMac refused to consider because it was substantially lower than that obtained by PennyMac in XXXX XXXX. After another purchaser presented, PennyMac refused to consider a short sale and finally repeated their appraisal which still is considerably higher than the market will bear.
I had contacted HUD who suggested that I undergo credit counseling which I did. Both HUD representatives and the XXXX credit counseling agency were concerned regarding my experience with PennyMac and apparently mine is not an isolated incidence. I currently have a buyer ( short sale ) however while PennyMac has finally decided to present my file to HUD, they are not being forthcoming regarding information required from me and although this information has been previously provided, I am concerned that " lack of information/compliance '' will be used as a means to terminate the short sale and proceed with foreclosure which is now scheduled for XXXX XXXX, XXXX.
I am in disbelief that PennyMac maintains the position that foreclosure is a better financial alternative to a short sale. My credit has been significantly and adversely affected by PennyMac 's commitment to proceeding with foreclosure as the representative has also refused to intervene and place these proceedings on hold.
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| 12/30/2020 |
Yes |
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
Older American |
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Since XX/XX/XXXX I tried twice! and gave Penny Mac mortgage services XXXX, a chance to submit a refinance which is my current home mortgage. They insured me it was an easy process, which it was far from an easy process. I had no alternative but to seek out a local loan company in XX/XX/XXXX to refinance my current home loan which was been a pleasant experience by far.
The problem arose when it came to signing the original loan documents to complete the refinancing process, the loan documents never arrived to the mobile notary for signatures. Penny Macs explanation was it was an internal error? I had to keep calling the loan officer for updates, Mrs XXXX XXXX kept indicating she was stressed and over worked?
The original loan officer was XXXX XXXX, then I talked to her supervisor XXXX XXXX, he assured me they would follow through to succeed with the process, Talking to Mr. XXXX was no help either.
They even tried to assign the refinance to a second loan officer XXXX XXXX after the second failed attempt.
Additionally, on XX/XX/XXXX I discovered that my property taxes of {$1600.00} for XX/XX/XXXX had not been paid, when I had the money in my escrow account. I had to call Penny Mac & spent an hour trying to investigate what happened? The rep XXXX XXXX @ ext XXXX assured me the matter would be rectified & the penalty imposed by the County of XXXX, Ca for late payment of {$160.00} will be paid by XXXX XXXX.
In my 30+ years of being a homeowner & being a licensed California XXXX myself, I have never encountered a mortgage business so incompetent, I have refinanced homes in the past with no problems and helped a number of clients go through the refinancing process. I understand fully how the process works. It was stressful & I was patient with this company & they failed miserably.
Currently I am on the cusp of closing my refinance XXXX XXXX, XXXX ) with another local lender. My complaint is merely to warn consumers about this company and Im amazed they are still in business. Hopefully with this complaint consumers will be made aware of the business practices of Penny Mac so they can avoid the stress that I had to endure.
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| 12/18/2019 |
Yes |
- Mortgage
- Conventional home mortgage
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Web |
Servicemember |
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I explored refinancing an existing PennyMac loan at 3.75 to a new PennyMac loan at 3.25. I explained that I did not see the advantage given that the closing costs would add principal to the new loan. I was told that a streamline with PennyMac would limit the closing costs and prepays to roughly XXXX because the Escrow would migrate from the old loan to the new loan. Upon review ( loan closed in XXXX ), it seems they took my old escrow and used it to reduce the principal so that the new loan appeared lower than it would have been. I immediately inquired the back in early XXXX and was told that PennyMac paid my taxes with the old escrow at closing. That did not happen. My new loan, which only had a minimal 1000.00 +/- escrow paid the taxes of XXXX and now I have a negative escrow balance of over XXXX. I contacted my mortgage officers who do not return contact. I called PennyMac today and the customer support representative sent messages to the mortgage officer team. So, in short, rather than PennyMac " eating '' the additional closing costs and prepays ( as I was told ), they used my old escrow to decrease the payoff of the new loan, did not transfer to me ( or to the new loan ) the amount of the old escrow account, and now I will be paying much more for my mortgage ( because I will have to catch up on the negative escrow ) than would have been the case had I kept the original mortgage. XXXX : They said one thing, and did another. Escrow did not migrate to new loan, and now my new loan will be much more expensive. They did NOT inform me that they would use the escrow for a principle reduction, but stated ( I quote ) " PennyMac '' will " eat '' the closing costs because it was a streamline deal for which I qualified. They simply used my escrow. Now I will have an additional XXXX to make up unless I want a major change after mortgage analysis. The old payment was about XXXX. The new payment was to be XXXX. If you factor in the extra XXXX/month to catch up the escrow, it is more like XXXX. Rough estimates. I was given objectively false information about this loan and would have kept the old loan if I had know about this outcome.
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| 02/11/2021 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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In the summer of XXXX, I called PennyMac because I was interested in accelerating my mortgage loan and I was looking to refi my mortgage as the rates had dropped. Because it is a condo, PennyMac opted not to help me. Fine, then I decided to make extra payments greater than my monthly payment owed. Which was at the time was approx {$1300.00} per month. Now with the increase of taxes, that amount changed to {$1400.00} per month. So I started the bi-monthly payment and told the Pennymac rep that. In XX/XX/XXXX/XX/XX/XXXX, I became ill with a XXXX XXXX. The consequences of that illness was the 100 % loss of my hearing. By XX/XX/XXXX, my hearing loss was complete and irreversible. I was under the care of XXXX XXXX, the recommendation was to get cochlear implantation. I had XXXX the week of XXXX. I was home recuperating when I realized that my mortgage payment needed to go out. I made the payment late for XXXX.
PennyMac began the process of foreclosure. I wrote to PennyMac on XX/XX/XXXX. No response from them at all. I wrote again on XX/XX/XXXX, no response from PennyMac. Nothing. I received certified mail that PennyMac intends to foreclose. Why? PennyMac has received the funds owed them.
PennyMac has no trouble sending mail out for foreclosure but their reps can't read messages left on their website? Why is that? They can't work with their clientele? Why is that? I can't get a refi, I can't get a hold of them, I can't communicate with them over the phone anymore. I could mail a letter, but USPS has been atrocious. The quickest way is to send a message via online. Yet, no response.
PennyMac Loans has discriminated against me. They have ignored me, they have bullied me, and harassed me with their foreclosure processes. This is totally unnecessary and nasty.
I want PennyMac to send in corrections to all the credit report agencies, I want PennyMac to remove all foreclosure processes from my record, and I want PennyMac to issue an written apology to me for poor leadership.
I am asking you to represent me to PennyMac Loans since I can no longer hear. It would be nice for someone to stand up to rude large organizations. Thank you.
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| 08/30/2020 |
Yes |
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- Trouble during payment process
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Web |
Servicemember |
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I am submitting a request and complaint to investigate my mortgage servicer Pennymac Mortgage Services address XXXX. XXXX XXXX XXXX XXXX, CA XXXX. I received a notice on or around XX/XX/XXXX from an attorneys office indicating I must pay a total of {$7000.00} as I will be subject to tax liens and even foreclosure. I am not sure what to do as I was away on XXXX XXXX service orders the majority of the year of XXXX and my mortgage servicer has ultimately failed to practice due diligence and maintain my mortgage while away on military orders form XXXX XXXX XXXX, while also granting me a full year of protections without any penalty or threat of foreclosure. My mortgage company has offered me an addition forbearance period due to Covid-19 wherein I experience a delay in return to work due to the pandemic as the job to resume mortgage payments in which I accepted requires me to be in direct contact with customers however due to an acquired medical condition while XXXX has limited my mobility as well undergoing treatment has not allowed me to returned to work due to the recruiter for the role I accepted ultimately passing away due to Covid 19. The office is shut down and most employees have been furloughed. My mortgage servicers is fully aware of this thus putting me in a position wherein I can lose my house at anytime especially when I was delayed and currently undergoing treatment for a serious medical condition acquired while XXXX. Please help me as I am not sure what to do at this point. It may happen again this year as I have not received any tax notices however have been provided options when Covid 19 smooths over I can restore my payments even if a subordinate lien is an option but they clearly dropped the ball. It is not a matter of me not able to pay but they forced me into bankruptcy a year ago to protect myself from their unethical tactics as I placed them on notice I was leaving and XXXX for military service and believe this is another way of them finding subverting and covert unethical and unlawful measures to foreclose on my home by any means necessary. Very Respectfully XXXX XXXX Reservist/Veteran XXXX XXXX XXXX.
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| 11/12/2020 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
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- Incorrect information on your report
- Account status incorrect
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Web |
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On XX/XX/2020, I contacted PennyMac Loans regarding incorrect loan information ( loan status and outstanding balance ) reported to the credit bureaus. I am in a COVID Hardship Forbearance under the Cares Act. I was initially delinquent on my loan but was able to make a payment and became current in XX/XX/2020. Despite the rules regarding credit reporting under the Cares Act ( which they post ) PennyMac reported no information for 6 months but in XX/XX/2020 my credit report showed my loan as " Delinquent in Forbearance. '' Additionally, PennyMac reported the outstanding balance on my loan as {$450000.00} ( original loan amount is @ {$430000.00} ), despite the fact that my XX/XX/2020 statement reflects I owe @ {$430000.00}. When I asked about the incorrect status, the rep initially denied reporting misinformation to the credit bureaus but then justified it by saying " well you owe - once you are current we will fix it. '' In regards to the incorrect balance, the rep initially said the increased amounts were the missed payments. Once I refuted that as illogical - if you miss a payment the amount owed on the loan does not decrease or increase - she put me on hold. When she returned she said it was " unpaid interest on the missed payments. '' When I rebutted stating interest was already calculated into the missed payments she said, " well once you are current your credit report will reflect the correct amount. '' At no time did the rep offer to review or correct the information - she basically said if you want it fixed get current. This conduct appears to be a blatant effort to illegally penalize consumers for being in a forbearance under the Cares Act. The suggestion that they would only correct the errors if I became current is coercive in nature and borders on extortion. This intentional misreporting also tanked my credit score, which will likely impact the terms of repayment once the forbearance ends. I am concerned this is intentional since the change in reporting happened right before the forbearance ends. I have documents to support the above and PennyMac records their calls - so the rep 's statements can be confirmed.
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| 07/30/2015 |
Yes |
- Mortgage
- Conventional fixed mortgage
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- Loan servicing, payments, escrow account
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Web |
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In XX/XX/XXXX 2015, I requested a simple letter of consent from PennyMac for a resubdivision of property. I received a packet with instructions dated XXXX XXXX, 2015. I immediately sent in all the necessary information. Since then they have verbally told us the consent was okay with PennyMac, but will not draft a letter to that regard. They want our city to provide a form, which our city does not have. My city stated they only need a simple letter or even an email that PennyMac is not opposed to the subdivision. PennyMac said I could have a title company prepare the letter, but they would not accept what my title company would provide as they wanted it on the title company 's letterhead. Since the title company had no association with the transaction, they would not put it on their letterhead. I put PennyMac in direct contact with the title company, but they could not clearly direct them on what they needed as they have been unable to do for me, my city and even their own title company. After many conversations and many many many hours, PennyMac was going to have their title company prepare a document at our expense. But after a week, I was told their title company could not or would not prepare the document. Finally, after putting them in contact with my city planning and my own title company, my title company drafted the letter. Since then, XXXX XXXX, XXXX XXXX and XXXX XXXX last name unknown ) have not returned calls or emails. We are now almost XXXX months into the problem and without the solution.
The entire time I was struggling to get a simple letter from PennyMac, they neglected to pay my flood and homeowners insurance and one house and I was left uninsured, despite several communications with PennyMac 's insurance department by both myself and my insurance agent. Additionally, they billed me incorrectly for my escrow and left me with a large unpaid balance that now must be made up for.
PennyMac 's competence is sorely lacking along with their representative 's customer service skills leaving their customers without updates and not returning calls. Their customer service system is designed ti fail the customer.
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| 07/03/2017 |
Yes |
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- Struggling to pay mortgage
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Web |
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Since XX/XX/XXXX, I have been trying to get approved for a Short-Sale. On XX/XX/XXXX of the same year the loan was transferred from XXXX to PennyMac. I had to submit all the necessary paperwork and on XX/XX/XXXX, PennyMac approved TPP Agreement with a monthly payment of {$1100.00} interest rate 4.65 %, I declined the offer as I could not afford the payment. I was approved for a modification in XX/XX/XXXX w/ a monthly payment of {$1800.00} and unfortunately, I defaulted and came to a conclusion that I can not afford my property. I tried to explain numerous times to XXXX XXXX, supervisors, management, and they all felt very strongly about the decision. On XX/XX/XXXX, I requested a copy of my Promissory Note and all endorsement and again made the same request on XX/XX/XXXX as they keep ignoring my request. I am facing a foreclosure on XX/XX/XXXX. The foreclosure Notice from XXXX XXXX XXXX did not indicate that the loan is an FHA with a Case # and also failed to include in the letter form XXXX and all the required forms, and also stating that the firm is representing XXXX XXXX XXXX as a holder of the mortgage. The loan was originated with XXXX XXXX XXXX XXXX on XX/XX/XXXX and XXXX being solely the Nominee for the lender ; by chain of title XXXX XXXX XXXX does not have ownership of the loan XXXX continues to be the Nominee for XXXX XXXX XXXX XXXX. The assignment of mortgage dated XX/XX/XXXX was incorrectly prepared by XXXX. It is The present Services ( PennyMac ) responsibility to enforce to enforce ownership of the mortgage and the note on behalf of the note holder. On XX/XX/XXXX, I received a letter from the same Foreclosure Attorney stating that his office was retained by PennyMac Loan Service, LLC. Attached are all the documents to justify and prove my complaint and also asking for help as PennyMac is in violation of amendments to DODD-Frank Wall Street Reform and Consumer Protection. I hope this matter will be resolved and justice will be made to stop all the abuse that I have been going through. I strongly feel that PennyMac violated my Home Owners Bill of Rights, not treating me fairly and ignoring all my requests.
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| 08/25/2020 |
Yes |
- Mortgage
- Conventional home mortgage
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Web |
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On XX/XX/2020, I closed on the refinancing of my house with PennyMac Loan Service, LLC. On the closing disclosure signed that day, I was due to receive {$630.00} and the payment would be disbursed on XX/XX/2020. I was informed several days after closing that I owed money. Then was told a day later that I didn't owe money -- that they had been in error -- and that I would receive a lender credit of {$630.00} and the payment would now be disbursed on XX/XX/2020.
On XX/XX/2020, a post-closing disclosure was sent, and it had me only receiving {$0.00} cents. This disclosure was never agreed to or signed by me. The payoff was sent that day to my current provider PennyMac Loan Services ( yes, same company -- they are were the current servicer of my loan ). When called Penny Mac to find out what happened, I was told by XXXX XXXX ( my loan specialist ) that again an error was made on their part and that I would be issued a lender credit of {$630.00}.
For several weeks now, since XX/XX/2020 ), I have spoken with Ms. XXXX and emailed her 14 times since XX/XX/XXXX and this has still not been resolved -- the title company never sent me a check.
Today ( XX/XX/2020 ), she told me to call the title company ( XXXX XXXX XXXX XXXX ) and I did. They said that they did not receive the {$630.00} and that they only sent a check for what was listed on the post closing disclosure ( never agreed to or signed by me ). She ( Penny Mac ) knows full well that the money was not sent and once again she is not responding to me asking why that money was not sent. I could go on and on about my troubles getting in touch with them, having them respond to me and never giving me a straight answer.
Separately, I never signed a document or verbally agreed to permit with PennyMac Loan Services the escrow account of on my previous loan ( {$3200.00} ) to be used to pay off that loan. However, without my knowledge or approval PennyMac Loan Services went ahead and used this money to pay off the balance on the loan. I spent several hours on the phone with the refinance side and the service side only to be told there was nothing I could do about it.
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| 02/26/2021 |
Yes |
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- Struggling to pay mortgage
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Web |
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Good Evening, I have an FHA mortgage and I pay the mortgage payments to my mortgage provider, Pennymac USA. Back somewhere around XXXX or XX/XX/XXXX, I contacted Pennymac to see if I qualified for Covid-19 Forbearance ( Due to Cares Act and my financial hardship ). ( I'm going to request a copy of the conversation next week ) I mentioned I only wanted to take Forbearance if I can take what I owed and add it to the end of the mortgage ( Covid-19 Standalone Partial Claim ). I was told yes and I went ahead and took the Forbearance.
Fast forward to today where I'm trying to get off of forbearance and I called to get a game plan to get me off of Forbearance. They told me I don't qualify for the Covid-19 Standalone Partial Claim. I only qualified for the Lump Sum or Loan Modification, when I got off of the forbearance. They said that to be eligible for the Covid-19 Standalone Partial Claim that " I have to be current as of XX/XX/XXXX ''.
After further research within the hud.gov website, under Mortgagee letters ( Mortgagee Letter XXXX ) one of the eligibility says the following, " the Mortgage was current or less than 30 days past due as of XX/XX/XXXX ; '' I paid the XX/XX/XXXX payment on XX/XX/XXXX. So technically I was NOT current BUT there is the OR clause that says " or less than 30 Days past due as of XX/XX/XXXX ''. There are no asterisks or quotes around that, or anything stating to take a leap year into effect. Therefore technically as of XX/XX/XXXX I was 29 days past due.
Therefore I believe I should qualify for the Covid-19 Standalone Partial Claim but for the whole month of XX/XX/XXXX I keep getting a " no I don't qualify '' or " we interpret 30 days past due with Leap year consideration ''. Again nowhere does it say anything about leap year, etc. My due date could be on the 15th and technically I would be 14 days past due as of XX/XX/XXXX.
I attached the document straight from the hud.gov website ( https : XXXX ) that shows my proof of why I should be eligible. I keep requesting Pennymac to provide proof why I don't qualify but keep getting the runaround.
Please assist and thank you in advance.
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| 11/11/2020 |
Yes |
- Mortgage
- Other type of mortgage
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- Trouble during payment process
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Web |
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PennyMac Loan Services , LLC violated federal regulations found in CFR Title 12 during the loan process with XXXX XXXX and XXXX XXXX XXXX, XXXX, XXXX XXXX XXXX, XXXX, TX XXXX. XXXX XX/XX/2019.
Federal regulations within title 12, stipulate the standards to which an appraisal is to be conducted. When this appraisal was conducted it neglected to account for the access easement and its condition.
The aforementioned property contains an Ingress and Egress easement through our property. There is an easement agreement between the owners of both properties. The XXXX have abandoned this easement due to lack of maintenance and failing to bring the easement into the standards stipulated within the easement agreement. Federal regulations require that these appraisals follow XXXX XXXX of Professional Appraisal Practice standards. Had these standards been followed it would have shown that the easement was not in an all weather road condition. The driveway within this easement contains a low water crossing through a perennial creek. During seasonal rains this easement is unpassable for hours to days and requires excavation to fix the damage created. The XXXX have the sole responsibility to maintain and bring this easement up to the standards within the easement agreement. We are dependent upon them to do this. As a result of this matter we are left without access to and from our home several times a year. This has resulted in lost work and without the ability to receive emergency services. This condition also prevents us from obtaining a FHA or HUD loan.
While it is clear that the XXXX have the primary burden to fix the easement, their ability to obtain a loan with the easement in its current condition has allowed PennyMac Loan Services , LLC to also be implicated in this neglectful situation. If the appraisal was performed to the standardards stipulated within title 12 this issue would have been resolved.
PennyMac Loan Services , LLC is in a unique position to provide a remedy for this affair, and we demand that this situation is retrafied.
Attachments : Picture of seasonal creek condition Easement agreement
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| 01/18/2023 |
Yes |
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- Trouble during payment process
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Web |
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On XX/XX/XXXX I took out a mortgage with XXXX XXXX XXXX. I began payments XX/XX/XXXX of {$1400.00} with a fixed rate of 3.5 % for the term of the loan. The principal was {$1000.00} with {$460.00} going into eccrow. After closing outta pocket cost that included taxes and insurance my escrow balance was {$1.00}, XXXX starting in XXXX of XXXX, with {$4400.00} being added into that escrow account for the remaining four month left in the year. From XX/XX/XXXX till XX/XX/XXXX with {$460.00} being paid into escrow those months totaled {$3200.00}. The combined four months in XXXX and the seven month in XXXX equal the sum of {$5100.00} just in escrow for that loan account, that I paid monthly, this does not include the remains balance leftover from closing cost after taxes and insurance were paid. In XXXX of XXXX I received a notice from PennyMac saying they were raising my mortgage payments from {$1400.00} to XXXX. I Filed a dispute because I never signed or agreed to any type of Loan from PennyMac or XXXX XXXX XXXX so I sent out and Affidavit to PennyMac requesting proof of contract in XXXX of XXXX with tracking number XXXX. PennyMac did not provide any proof of contract all they responded with was that my mortgage went up due to increase in my homeowners insurance. Which could not be true because I paid for my home owners insurance outta pocket in full for the year directly to the insurance company on XX/XX/XXXX. PennyMac and XXXX XXXX XXXX has failed to show where this escrow money went and explain why they sent my escrow insurance money back to cause my increase in my mortgage. I was never late or missed any payments until PennyMac XXXX XXXX XXXX conducted this fraudulent action. Which appears to be a form of loan flipping. they are attempting to get me to refinance my loan so I can go further into debt and they cause a foreclosure. By them raising my mortgage under the disguise of a insurance increase. Because I had the insurance paid in full and in escrow and they returned it and then repaid the insurance on a Loan that are debt collectors on. I did not take out a Loan from PennyMac or XXXX XXXX XXXX.
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| 11/25/2020 |
Yes |
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Web |
Servicemember |
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Had an old loan with PennyMac : XXXX which was refinanced in XXXX, loan was fully funded on XX/XX/XXXX. I contacted the XXXX Tax Commissioner on XX/XX/2020, XX/XX/2020 and XX/XX/2020 and they confirmed that county taxes were outstanding with a balance of {$3400.00}.
I contacted PennyMac on XX/XX/2020 4 times via phone, and via their message center on XX/XX/2020, XX/XX/2020, XX/XX/2020 and XX/XX/2020 in reference to the unpaid county taxes, that were supposed to be paid off at closing.
During the XX/XX/2020 call I was given the name of the titling agent, who according to them paid the taxes for me, I called XXXX XXXX XXXX. They indicated that they did not pay the taxes at closing because they never received the funds from PennyMac.
PennyMac said they would open a tax inquiry with their specialists, but they've also stated that perhaps the escrow was used to pay the loan ; however, as another customer service rep also pointed out that the prepaid on the closing cost Details page, under Other Costs it lists property Taxes to XXXX County for XXXX. Which means they were supposed to pay taxes at closing.
As of XX/XX/2020, the county tax website : XXXXXXXX still shows the taxes as unpaid, however, PennyMac says that it was paid on XX/XX/2020, but that I have an owed amount in the escrow since I didn't have enough to cover the entire balance, which means they only used the escrow under the new loan number XXXX, and not the escrow balance from the old loan which was {$4000.00}. I called PennyMac on XX/XX/2020, and they said that perhaps the taxes were paid twice : once on XXXX, and once on the XX/XX/2020, I informed them that not only was the county website not reflecting that, but that the agent responsible for paying it off, XXXX XXXX XXXX, also said they did not. As of right now I have no clue what happened to the {$4000.00}, from the old loan, as it was not used to pay the taxes, furthermore, the taxes are still unpaid, and I may have to pay out of pocket. PennyMac indicated on their closing disclosure that they would pay the taxes, and they have not, additionally, the old escrow balance disappeared.
|
| 02/13/2017 |
Yes |
- Mortgage
- Conventional fixed mortgage
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- Loan modification,collection,foreclosure
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|
Web |
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PNMAC MORTGAGE XXXX XXXX XXXX, XXXX, AS A SUBSIDIARY PNMAC XXXX XXXX, XXXX XXXX, XXXX COUNTY COURT OF COMMON PLEAS AND XXXX XXXX XXXX & XXXX filed an illegal foreclosure action in a non-competant judcial XXXX defined in XXXX XXXX XXXX XXXX a ) ( b ), which is outside the district to the United States XXXX PNMAC MORTGAGE XXXX XXXX XXXX, XXXX is fully aware that such attempts to avoid federal laws of the United states regarding interstate commerce, obligations of the United States is illegal. XXXX COURT OF COMMON PLEAS IS NOT a state defined in XXXX XXXX XXXX ( XXXX ), however is not exempt pursuant to XXXX XXXX XXXX. Accordingly under federal law and statues of the United States, constituions, consumer federal law preempts any state law that is inconsistant with federal law that provides less sufficieny in terms of consumer protection.The actions taken by all parties the consumers were upon private instruments, assets, consumer accounts, within interstate commerce, which are in facts obligations of the United States. Therefore, Defendants foreclosure upon, bringing suit against, seizing or by disablement, dispossession, accounts, instrumentalities of the Unites States, which includes the consumer. XXXX county court of common pleas would lack any jurisdiction, competently or otherwise, to engage in any acts against the United States. Defendants Failed to obtained prior consent from the Consumer, or permission from a proper, competent judicial court, district, before engaging in such acts. It is believed that defendants are acting on the false notion that the consumer is some sort of artificial entity, citizen, or other, corporation formed under their a XXXX XXXX laws. Therefore, XXXX Court of Common Pleas is properly defined as a debt collector, XXXX XXXX XXXX ( a ) ( XXXX ), collecting a debt defined in XXXX XXXX XXXX ( XXXX ). And not exempt under XXXX ( XXXX ) ( c ) .Conseuqently, and knowingly, no evidence has been presented to support this presumption. The consumer is not a citizen, state citizen and such creation of an entity without knowledge and consent is of the consumer is fraud, even criminal.
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| 02/27/2023 |
Yes |
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- Applying for a mortgage or refinancing an existing mortgage
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|
Web |
Servicemember |
|
I applied for mortgage assistance with XXXX on XX/XX/XXXX. During that time, I sent all of the needed information to XXXX and was told that during the modification process I would not have to pay mortgage and that it would not be reported to the credit bureau, but ultimately it was reported, and I was denied mortgage assistance because my ex-husband did not send in HIS paperwork, which I was not aware of. I called XXXX at least twice a week and would speak to someone different in the modifications department every time. I would get contradicting answers as to what was needed on my behalf. One week I would call and be told that all is good, we have everything needed. The next week would be a completely different response. I was told multiple times that the person in charge of my modification, XXXX XXXX, would call me back to discuss everything with me, but he never called me. I was the one calling XXXX every week, I don't recall anyone calling me.
Today, XX/XX/XXXX at XXXX XXXX, I called XXXX and spoke to XXXX and let him know my situation. I told him that I was wanting to see if there was any way that I can get the derogatory marks off of my credit since I did pay the past due amount ( s ) that were owed ( {$4500.00} ) between XX/XX/XXXX and XX/XX/XXXX. He told me several times that he did not see that I paid the above amount, so we went back and forth a couple of times and I told him that I am seeing that amount taken out of my account on the dates above ( XX/XX/XXXX, XX/XX/XXXX ). I then asked to speak to a supervisor and was transferred. I let the supervisor ( I can not remember his name ) know my situation and he told me that I was correct and that I did not need to make monthly payments due because I was going through the modification process. He also stated that the that derogatory marks should not have been sent to the credit bureau. He told me that he was filing a complaint against the modifications department at XXXX for their inconsistencies and then he told me that in order to help get the derogatory remarks removed, that I needed to contact the CFPB and file a complaint against XXXX.
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| 06/04/2021 |
Yes |
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- Struggling to pay mortgage
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|
Web |
Servicemember |
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PennyMac continues to violate my rights under the CARES Act concerning forbearance requests due to hardship experienced as a result of the XXXX XXXX. According to lenders guidelines found at the Consumer Financial Protection Bureau 's website ( https : //files.consumerfinance.gov/f/documents/cfpb_csbs_industry-forbearance-guide_2020-06.pdf ), " servicers can grant CARES Act forbearance periods for less than 180-days at the borrowers request or with the borrowers consent. However, servicers must default to the term requested by the borrower ( not to exceed 180 days XXXX if the borrower and servicer can not agree on an appropriate forbearance length or communication with the requesting borrower is not possible under the circumstances. '' PennyMac offered me only a 1-, 2-, or 3-month forbearance extension. PennyMac never granted me up to 180 days as I requested. I never consented to less than 180 days of forbearance. PennyMac 's representative XXXX refused to grant my forbearance request until I consented to 1 month, 2 months, or 3 months. After approximatley 40 minutes of PennyMac 's refusal to grant my forbearance extension, I was transferred to a supervisor. The supervisor ended the call and did not grant my forbearance request because I was recording the call and he did not consent to the recording. I called from Texas which does not require two-party consent to record. I asked the supervisor if he would be willing to call me from an unrecorded line ; he said no. I will not speak to PennyMac representatives/supervisors without recording my calls because they record on their end and their actions should be recorded to build up additional evidence of their refusal to comply with the CARES Act. After approximatley 50 minutes total of talking with PennyMac, my request for a forbearance extension was not granted despite me requesting an extension and attesting my continued hardship as a result of XXXX. I intend to file a congressional complaint and seek assistance from a federal court. The recording of my call exceeds the XXXX XXXX maximum for attachments but I will make it available upon request.
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| 10/30/2017 |
Yes |
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Web |
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This complaint is against Penny Mac Loan Services.
Last year my house flooded due to a pipe break caused by a storm. At the time the insurance company underpaid the insurance claim by over {$60000.00}. It took a year to get resolved but we finally got a settlement for {$32000.00} on XXXX XXXX XXXXXXXX. On XXXX XXXX XXXX I called Penny Mac to state we received our settlement amount and that we had completed all repairs. At this time we were currently going through mortgage modification.
I called in on XXXX to inform Penny Mac that we have a settlement but no checks yet. I asked to have an inspection on the home since we completed all repairs on the home. At this time I was told they could not send out an inspector until we received the checks. At the time I joked and said " I hope a storm does not come through and redamage the home. '' Hurricane XXXX hit and damaged the home with rain water intrusion and broken windows. I received the insurance checks on XXXX. I contacted Penny Mac about releasing the funds to me. It was denied because they wanted to do an inspection. I told them the work had been completed already.
I have been having weekly conversations about the exception to have our check endorsed. Penny Mac was inconsistant with the needed documentation. We provided everything we could over a 30 day period. Finally on XXXX XXXX we were told that we can get the check endorsed as long as we sent over the settlement documents and the check with a prepaid envelope. We followed the instructions but this was just a ruse to get us to send in the check. Once we sent in the check we were told that it was not going to be endorsed and sent back. That the funds would be paid out AFTER ALL THE NEW DAMAGE WAS REPAIRED.
Because they told us that they were going to endorse and send back the check immediately we moved forward on other options within our home and used reserve funds to get things completed. Now it could take months or years to get our money back from the bank.
This is currently causing a loss of {$14000.00} per day for my business because I do not have the funds that should be mine.
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| 12/14/2020 |
Yes |
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Web |
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Upon arriving to the closing table at the XXXX XXXX XXXX , XXXX to sell my home on XX/XX/XXXX I was presented with the Seller Credit/Debit sheet, where at that time I discovered a mortgage payoff to PennyMac Loan Service, LLC consisted of a 2nd mortgage in the amount of {$78000.00} being held through the Secretary of Housing and Urban Development ( HUD ), of which I was completely unaware of prior to receiving this document. In XX/XX/XXXX I met with a bankruptcy attorney to sign paperwork to file bankruptcy, but was advised not to go through with the bankruptcy by the attorney based on the fact that both myself and the attorney were under the impression that my home held about {$80000.00} in equity and was therefore given the option to either sell my home to access the equity and pay off debt that accumulated from an extended period of lack of work or work with debt companies to slowly pay off over time. I contacted my mortgage company on two separate occasions prior to deciding to sell my home for mortgage payoff information and was NEVER provided any information or details into the now apparent 2nd mortgage that occurred from 2 previous loan modifications done in XXXX and XXXX and subsequently was never provided with any information or details of this 2nd mortgage throughout the entire duration of the existence of said 2nd mortgage, to include, but not limited to, statements ( paper or electronic ), online mortgage account access, or phone correspondences between myself and my mortgage company, PennyMac USA. As a result of this complete lack of information and/or visibility into the said 2nd mortgage loan multiple financial " damages '' were incurred. I am therefore submitting this complaint against PennyMac Loan Services , LLC and/or the Secretary of Housing and Urban Development ( HUD ) for gross neglect and negligence on their part to disclose information and/or any and all details of the 2nd mortgage with regard to the full amount ( s ) owed, as well as, rate ( s ) of interest being accrued, penalty and payoff information, at any time during the existence/course of the 2nd mortgage loan.
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| 08/28/2022 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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We have owned homes since 2000. We have never had problems like we have had with PennyMac.
We did not sign up with PennyMac. They " bought '' our mortgage from another company last year, soon after we bought our house. They have bungled the paperwork at every turn and exhibited a pattern of negligence throughout.
1. Last year, they did not pay our taxes. We ended up paying out of pocket, instead of out of escrow. I see from the escrow records they sent the money SOMEWHERE, but it never arrived where it was supposed to ( XXXX XXXX XXXX XXXX ).
2. Earlier this year, they suddenly said they were charging us for insurance, because we had no insurance company. We did, actually. When the bought the mortgage, THEY NEVER BOTHERED to contact the existing insurer and properly set up where the bill would be sent, again, to escrow.
PS I would send the documents about the insurance mess, but PennyMac conveniently " wipes '' their message center over time, so you have no record of past disutes! I managed to save the PDF of one of those exchanges last year.
This has NEVER HAPPENED BEFORE, ever, in 21 years of us being homeowners, and our mortgage was sold *four times* while we lived in Florida!
3. So we come to now, and the reason for my panic. I got an email from them saying " No problem, we're paying your tax bill, it's all good '' and they said not to send them the tax bill. So when I got the XXXX XXXX tax bill : a ) It was for a different amount b ) It clearly said " send this to your lender '' c ) There was no indication on the bill they even knew who PennyMac was.
( c ) is more frightening because the tax bill in Virginia ALWAYS said who the lender was, and actually said, don't worry about sending this to them, we've already done it.
So in short, I've been abused enough. Someone needs to fix these problems once and for all. And just maybe, this is a PATTERN of abuse, that should actually be investigated. Are there other homeowners out there who aren't quite as vigilant, who are already in trouble with the local tax authorities, who are already paying double exorbitant insurance rates?
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| 03/27/2019 |
Yes |
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- Trouble during payment process
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Web |
Servicemember |
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I recently received an insurance claim settlement from XXXX Hurricane Irma. During the long 18 months of claim denial from XXXX XXXX XXXX XXXX XXXX XXXX, I was tasked with replacing my entire roof total cost {$44000.00}. The roof damage was destroying the cedar ceiling thus creating additional problems that were not covered in my original hurricane claim. A s a last result, the roof had to be replaced at my expense and I was forces to sue the homeowner 's insurance. The full roof was replaced in XX/XX/XXXX by a licensed roofing company, XXXX XXXX roofing. At this time, during XXXX Hurricane Irma and the XXXX roof replacement, PennyMac WAS NOT my mortgage lender. My loan was transferred to PennyMac in XX/XX/XXXX. At the time that PennyMac acquired my VA mortgage there was no outstanding insurance claims, as teh previous XXXX Hurricane Irma was denied. After months of litigation via the XXXX XXXX XXXX and XXXX XXXX XXXX XXXX XXXX, I was granted a settlement in XX/XX/XXXX. The check was payable to myself, PennyMac and the claims adjuster. After endorsement from the claims adjuster on XX/XX/XXXX, I contacted the insurance claim department A PennyMac was given these instructions : please mail the settlement check with a letter of exception to PennyMac insurance claim dept. In the letter of exception please request a endorse and release of the settlement check based on the roof repairs are completed. Include the settlement paperwork from the law firm, all paid receipts, and the roofing company invoice. PennyMac has received ALL required documents, ALL paid receipts, ALL invoices, a FINAL inspection was completed on XX/XX/XXXX and I have yet to receive a phone call with a status on the release of the funds. I continue to call PennyMac insurance claim dept. several times per week and each conversation is with a different representative that NEVER seems to be knowledgeable of their process. Please investigate this company and the way their claims dept. operate. They should not be an approved VA lender. All reviews and/or complaints regarding PennyMac are similar and warrants an investigation.
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| 06/28/2019 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
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- Incorrect information on your report
- Account information incorrect
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Web |
Servicemember |
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To whom it may concern, We have a VA loan with PennyMac Loan services. In XX/XX/XXXXwe knew we would have difficulties paying the monthly payment in full. We called PennyMac to let them know it would be late. They recommended we do a loan modification. After lots of questions, we agreed. We were told to take XX/XX/XXXX and XX/XX/XXXX and not pay the mortgage while the reviewed and prepared for our 3 trial payments ( XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX ). We were told all of it would be reported to the credit bureau as a part of the loan modification process and be grayed out, not impacting it negatively.
However, when we went to get a new home loan we say that XX/XX/XXXX-XX/XX/XXXX were included but not XX/XX/XXXX. Therefore, XX/XX/XXXX displayed a 90+ day late amount. As a military family moving to a rural area with limited rental options, we panicked and called the company to resolve the issue.
We were informed they wouldn't fix it as nothing was misreported. So we submitted a complaint to the XXXX which finally got them to call us and investigate. We were sure after listening to the recording that they would amend the issue and include XX/XX/XXXX in the process, as we were told, and XX/XX/XXXXwould be corrected ( as we DID make the payment that month ). However, the young lady investigating informed us she found no evidence of anything being said in the recording. We asked if we could simply be given a one time courtesy forgiveness and change. We were told they be we do that under any circumstances ( which we know to be false ).
After more discussion, we contacted her directly and requested the transcript from the conversation to review and see if we could locate where we were told to not make XX/XX/XXXX/XX/XX/XXXXXX/XX/XXXX payments. However, despite several attempts to reach her, the Penny Mac representative has refused to return our calls.
We firmly stand by the fact we were told to take XX/XX/XXXX and XX/XX/XXXX to not make payments. Had we known we needed to make them, we would have. While they included XX/XX/XXXXthey still refuse to amend this to include XX/XX/XXXX.
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| 08/31/2023 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
- Escrow, taxes, or insurance
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Web |
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My home sustained hail damage. My insurance company issued a check to me for the repairs in the amount of {$41000.00}. The check needed to be endorsed by my mortgage company, Pennymac. I overnighted it to them XX/XX/XXXX. They didnt log it as received until XXXX. It then took them until XX/XX/XXXX to issue the check back to me. It took 4 phone calls to get that to happen. In the meantime I had paid contractors over {$28000.00} out if my own pocket for repairs related to the hail damage.
When I received the check it was payable to my husband, who had recently passed away, even though the check from the insurance company did not have his name on it. I couldnt deposit it with his name on it, so I called and asked for it to be reissued in my name only. They agreed to do so. That was XX/XX/XXXX.
I called again XX/XX/XXXX because I still had not received anything. A woman named XXXX said it appeared they had dropped the ball because it was approved to be sent on XX/XX/XXXX but nobody sent it. She said she put in a request for expedited action so it would be overnighted to me on Tuesday, XX/XX/XXXX, to be received Wednesday, XX/XX/XXXX.
On XX/XX/XXXX I logged in to my mortgage and could see that no disbursement had been made, so I called again. This time I was told the request had just been put in yesterday and it would be 6 more business days for that request to be processed. I demanded to speak with a supervisor. I was placed on hold for approximately XXXX minutes and then was told that I could not speak with a supervisor but that the supervisor said the check would be overnighted that day to be received Thursday, XX/XX/XXXX. As I sit here at XXXXXXXX XXXX I am logged into my mortgage account and can see that no disbursements were made today.
How are they able to just keep MY money? Its been 6 weeks. Im now not only out the {$28000.00} that Ive already paid my contractors but now Im getting bills for the rest of the repair work. Im beyond frustrated that they can just hold money that belongs to me for repairs to my house because nobody there seems to know how to do their job.
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| 12/16/2018 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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On XX/XX/18, we suffered significant flood damage as a result of a defective toilet. After handling the claim with our insurance company, we endorsed a claim check over to Pennymac on XX/XX/18. They required that a significant number of documents be completed before any funds would be distributed to our contractor ( XXXX ) for repairs/restoration. Although we understand the need to assure that contractor is reputable and work is completed in a satisfactory manner, PennyMac sat on the funds, claiming that we had not provided the contractor 's bonding information and their contractors license. They were told multiple times that the Certificate of Insurance was sufficient, and bonding was only required for commercial contracts. We also told them multiple times that Texas does not issue contractors licenses for residential work ... only for work involving government entities. Finally, on XX/XX/18, a check was issued to us. We were having to live out of boxes, confined to one room in the house, with no furniture. We requested final inspection for completion of all repairs on XX/XX/18. After multiple follow-ups, an inspection was finally completed and the final inspection was approved on XX/XX/18. Their website indicates that funds are sent within 6 business days of final approval. I called on XX/XX/18 to request status of the final funds payment, and was told that the 6 day period does not include a process for reviewing the final check and cutting the check. They indicated that the check had been requested and would be mailed to us within 3 business days. Today, XX/XX/18, we still do not have the final check so that we can pay the remaining funds to the contractor. I have also had repeat problems in the past with inaccurate escrow computations ( and overpayments to taxing authorities ). PennyMac is terrible. Also, I believe that they engage in the behavior they have engaged in with the claims payment process so that they can " float '' on the funds for as long as possible before issuing payments. Please investigate these folks. There are numerous complaints regarding PennyMac.
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| 04/20/2023 |
Yes |
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- Trouble during payment process
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Web |
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I was in the process of modification paperwork and was able to call in and make two payments. Unfortunately I first tried to pay these payments over the Pennymacs online system but when you opt for modification it will not allow you to process a payment over the internet. My only option was to call and process them. I called to make two payments and casually mentioned to the agent if I could make these I probably would not need to move forward with the modification process. I was also frustrated I was unable to process these over the internet myself without giving an agent my checking numbers. I then proceeded to give the agent XXXX payment after she processed that she warned me that they would only be able to process 1 payment a day XX/XX/23 so then second would need to processed XX/XX/23 unfortunately. I said okay and continued giving her another checking number. Welp I am being told that payment was considered late and they slapped a 30 day late payment on my credit report.
on XXXX we received two letters saying both payments were successfully applied to our mortgage account. The agent must have submited through the wrong checking and it never went through. Again something we could have avoided should they let us submit over the internet and not verbally. We did not receive notice that the payment failed and we kept checking to see why the payment was not taken out of one of the accounts and later after receiving credit alert we found out that they said we paid 30 days late. They also said since we canceled our modification it didn't matter when we paid the bill it was considered late. They claim our modification was canceled on XXXX? Im not sure why someone would cancel a modification and then submit a payment they knew would not go through. We are trying to protect our credit and I feel this was done sneakily through our lender. They have been less than helpful during all parts of the financial struggle I have had and less than cooperative during any discussion we have had to fix our account. As of now all payments are made and we are asking this be investigated.
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| 05/27/2021 |
Yes |
- Mortgage
- Home equity loan or line of credit (HELOC)
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
Servicemember |
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My wife and I applied for a cash out refinance mortgage on a home we have lived in and paid a mortgage on for the past 19 years. We went thru Penny Mac and an woman named XXXX XXXX was the agent we dealt with. She seemed intelligent and eager to assist us and get our business. I was apprehensive to have any type of hard credit inquiry done for just an initial estimate to get some numbers and I told her as much because other lenders were also interested in us and wanting to do soft inquiries. These inquiries effect your credit rating. So she had us fill out all type of forms on line and we had to agree to receive all documents on line to do business with them. I reluctantly agreed and her assessment was we qualified and we had more than enough equity in our home and then some. So after submitting all requested documentation and long phone discussion in which we told her this was a manufactured home. We were told by XXXX in order to lock in our quoted rate we were required to give them a deposit of XXXX for an appraisal and that WA state required that much of a deposit. So we got the application signed all paperwork submitted ( which also stated this was a manufacture home ) and paid them the deposit via credit card over the phone and all was done. I get a phone call the next day from XXXX saying she had some bad news! So after collecting all of our personal sensitive financial information, bank statements, mortgage statements, insurance declaration and our XXXX deposit for the appraisal she informs us that Penny Mac doesn't lend money on manufactured homes? Now it's going to take 7-10 business days to get a refund on our XXXX deposit for an appraisal. Who collects the interest on that XXXX fee for that 7-10 business days and how much money is that if they do it to hundreds of applicants a week? She should have known the loan would not be completed when we told her it was a manufactured home not to mention that was also available information on all the documentation we provided prior to making the XXXX deposit on the appraisal. These people are completely incompetent!
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| 05/30/2023 |
Yes |
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
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I have an FHA mortgage that is currently being serviced by Pennymac. Both my ex husband and myself are on the mortgage. When we were in the process of getting divorced in late 2018, I was told that I could assume the mortgage to have his name removed, and that the process would only take about six months. After our divorce was finalized in XXXX XXXX XXXX, I submitted all of the paperwork and documentation that was requested and paid the processing fee, but did not receive any response. I was given no direct line of communication so had no way of following up besides going through regular customer service. After several months, I was able to press operators hard enough to actually get contact information for their assumptions department. I made countless attempts to request information on the status of my assumption, but was only told that it was " in process ''.
Fast forward to XXXX, I made more attempts to get an answer, and at that time was able to get a new contact in their assumptions department. This person placated me with more " we working on it '', with no actual movement. I backed off during the height of COVID, because I had enough else to worry about. Since then, however, I have tried to contact this person, and finally this spring ( XXXX ) have had some email communication with them. They requested me to re-submit all of the paperwork again ( which I did ). They have even charged me again for the processing fee and have indicated that they have emailed and XXXX XXXX me the final document that needs my and my ex husband 's signature. I have never received the documentation, despite confirming the proper addresses. I don't know what to do at this point because there is no way to find out who their supervisor is to go over their head to complete the assumption process.
I am starting to suspect that this person 's sole purpose is to get me to give up, or perhaps they are just incompetent. Regardless, I would like to resolve this issue, since it is a stipulation of my divorce that I assume the loan and I've been working to do so for over five years.
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| 03/07/2023 |
Yes |
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- Problem with a credit reporting company's investigation into an existing problem
- Their investigation did not fix an error on your report
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Web |
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Around XX/XX/XXXX, I missed a payment due to medical issues. It ended up where I had accepted a federal loan modification plan. At this time, I was under the impression that due to the medical issues, under this federal modification, the missed payments would be excused due to the program, but they were not. Furthermore, I was told NOT to pay for a couple of months, and those also were counted against me.
I am grateful they were able to help me during my medical issues, but I have almost had the house for 7 years now, and due to the program, I basically still owe what I owed when I first purchased the home. I do not feel as if the payments, etc., were fully explained to me when this happened.
I have disputed this with the XXXX a year or so ago, and PennyMac confirmed everything as accurate. However, the credit reporting does not match. With the reporting not matching and have being confirmed, I feel as though under the Fair Credit Reporting Act, due to confirming the inaccuracies, these should be removed.
Items that do not match are as follows : No confirmed payments showing before my first missed payment on XXXX ( affecting payment percentage ) First missed payment shows as XX/XX/XXXX on XXXX, but XXXX XXXX on XXXX and XXXX Missed payment showing for XX/XX/XXXX on XXXX, but no missed payments on XXXX & XXXX XX/XX/XXXX showing as missed on XXXX, but not on XXXX or XXXX XX/XX/XXXX payment showing as made on XXXX, but not on XXXX or XXXX I had previously disputed these, and Pennymac confirmed the information is correct. The reporting bureaus confirmed they were reporting what PennyMac sent in to them. So something is off here.
Furthermore, I have also received multiple calls from PennyMac to refinance the house, including just recently and having happen about a year plus before that. I feel as though they are trying to leverage this against me, as there is no reason to remove these negatives from my report, to keep the policy as-is or to get me to refinance to a higher interest rate ( due to the market conditions, my credit score being impacted, etc.
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| 08/21/2015 |
Yes |
- Mortgage
- Conventional adjustable mortgage (ARM)
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- Loan modification,collection,foreclosure
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Web |
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There Is a motion on XX/XX/XXXX to reset foreclosure sale date on this 100 % foreclosure fraud case against defendant. XXXX XXXX XXXX has sold/transfer/assign this mortgage to : PennyMac. I have been told at courthouse to my face by attorneys that '' Too Big Too Fail '' XXXX XXXX XXXX does not EVER lose a foreclosure case XXXX County Courthouse despite strong evidence against them.
1. There is case # XXXX XXXX vs XXXX before Florida 's Supreme Court addressing Florida 's 5 year statute of limitation schedule to hear open oral arguments on XX/XX/XXXX. Statute expired on this case XX/XX/XXXX but case continues to be re opened by Plaintiff attorney by paying {$50.00} to court.
2. One Hundred Per Cent ( 100 % ) Foreclosure Fraud : Loss/Destroyed Original Note/Mortgage, Plaintiff and domestic financial terroristXXXX XXXX XXXX lacks legal standing ( do not own mortgage ) funded and sold off originally by now defunct XXXX XXXX Bank, robo signing, robo testifying at non jury trial. ENTIRE COURT FILE DISAPPEARED at non jury trial & continues minus few loose pleadings but granted summary judgement by court. XXXX due process. For heavens sake how is this possible in our sacred American Judicial System where justice and facts are suppose to prevail?
3. Force placed homeowner insurance obtained by XXXX at illegal price gouging rates XXXX, XXXX times normal amount they know this is 100 % accurate.
4. XXXX XXXX XXXX uses XXXX County Courthouse to lie, cheat, steal, laugh, disrespect, violate, abuse, XXXX, intimidate every Florida judicial foreclosure civil law in existence on contested and un contested cases.
5. I want any Department of Justice settlements with this XXXX XXXX XXXX under the Holder administration applied ( Full principal forgiveness ) immediately to this case. XXXX or XXXX cents ( XXXX, XXXX ) on dollar deals to settle are a JOKE & non deterrent in anyway for these lucrative bank home theft deals, just cost of doing business. Once these deals signed by bank executive/s it was business as usual on the way out the door with no admission of wrongdoing.
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| 01/07/2021 |
Yes |
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
Servicemember |
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I am a Penny Mac customer. I was in the process of refinancing my house.
I was notified five hours before my refinance settlement, that my loan had been canceled for non-payment of my XX/XX/XXXX mortgage. I paid my mortgage.
I paid my mortgage on XX/XX/XXXX.
I called to find out what the confusion was.
I was notified my mortgage was placed in suspense because of taxes and escrow increase.
Almost a full month passed between my XX/XX/XXXX mortgage payment and my XX/XX/XXXX settlement date and I had not received any notification that my payment was placed in suspense and not applied to my account.
No phone call, no email, no account notifications, no letters, no Robo call, nothing! Even when I logged into my account on the company website to sign the settlement disclosures. Nothing! No Notifications.
The servicer provided no communication that my loan was not paid in full or that I was in jeopardy of my loan being canceled, even though I spoke or was in communication with my loan processor and/or loan officer, 2-3 times a week. Often speaking with them several times a day. I even received an email from my processor the night before settlement, confirming what I would need at settlement.
As a customer refinancing with the same lender shouldnt I have received more than 5 hour notice that my refinance loan is being canceled because my mortgage payment wasnt applied to my account?
I was failed on two fronts, by the service provider not communicating in a timely manner the status of my payment and by the refinance department who promised in there opening email to monitor the loans status through settlement.
I have never missed a payment, please check my history. There is no reason, I would intentionally not make my full mortgage payment.
I was told that the my loan officer and the Penny Mac team were there to make sure my loan processed smoothly. This event has shown a gaping hole where loans and customer experience can fall through and fail. I am sure this is not the experience the Penny Mac Team promised or intended for my Veteran family to have.
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| 02/27/2020 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
Servicemember |
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I purchased my property on XX/XX/XXXX. Early in XX/XX/XXXX it was sold to Penny Mac. All correspondence advises they accept checks.
On XX/XX/XXXX I advised them of my proper mailing address On XX/XX/XXXX, I sent a check for {$250000.00} to them- approximately my princ balance.
On XX/XX/XXXX, I talked with them and they had not received my check. Other check 's mailed out had all been cleared by XX/XX/XXXX but this one with them had not. They assured me they had not received it. ( XXXX ) On XX/XX/XXXX, they still had not received my check, and i advised them i put a stop payment on it ( {$25.00} ). I was concerned now that it was lost in the mail, again they assured me they did not have it. ( XXXX ) On XX/XX/XXXX and XX/XX/XXXXh i paid electronically {$99000.00} each day.
On XX/XX/XXXX- I received a letter ( dated XX/XX/XXXX ) mailed to the physical address, not my mailing address. Of which they have had the correct address since XX/XX/XXXX, stating they are returning my {$250000.00} check for it is not " certified funds ''. They are claiming now that they only accept checks for regular payment amounts. Included in the mail was also the attempt to send to my mailing address on XX/XX/XXXX stating got returned?
So to my estimation, it has cost me about {$330.00} in interest, plus {$25.00} and my time because they didn't accept my pmt, advised me they never had it when if fact they did and sent correspondence to the wrong address regarding this matter ...
On XX/XX/XXXX ( XXXX/XXXX ) - advised they would go up the chain of command because not accepting my pmt ( when in my agreement, not their policy, does it state they wont take a check? This is appears, knowingly or unknowingly, directly cost me more and they have yet to correct this. Isn't this a compliance violation? Proper billing and crediting payments properly???
Since they promised me to call me back by the end of the day on XX/XX/XXXX and have not. I have chosen to email the CFPB on their compliance issues. To settle this account, i respectfully request they reduce my pay off by {$500.00}.
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| 09/01/2022 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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Hello! I would like to complain about Pennymac company. I have tried to resolve my issue over the phone and via messages a few times without any success. I have a mortgage with them for about 10 years, they are not my original mortgage originator. I have attached the screenshot from my " Loan Activity '' page and the answer they provided about interest part calculation. My interest 3.5 %, my monthly payment is {$2200.00}, escrow is {$560.00} and usually, I do an additional principal reduction payment on the 13th day of every month. So basically, for the previous 10 years, they computed the interest part of the monthly payment using the last available principal balance. In the " Loan Activity '' attached document you can verify that : XXXX. Line XX/XX/2022 - interest {$470.00} = ( previous balance ) $ XXXX XXXX. Line XX/XX/2022 - interest {$460.00} = ( previous balance ) $ XXXX But starting XXXX 2022 ( Line XXXX/XXXX/2022 in " Loan Activity '' ) they changed the interest part calculation, they provided the answer in the attached document " Answer 2 ''. Instead of charging {$440.00} = ( previous balance ) $ XXXX, they charged interest part {$440.00}, dividing the month into two parts : before receiving a principal reduction and after. The same issue happened for the XXXX payment. My argument is that even if I have a fixed payment every month, my interest part now is more and the principal part is less. Also, they did not provide any notice before implementing the changes. Their arguments are- they should not provide any written notification because they enhanced interest calculations in order to save the customers ' money. I think it is not true and deceptive, without any difficult calculations it is obvious that they do not save my money. My calculations are in the " fair resolution '' box and for the two monthly payments my principal balance off {$4.00}. And it is only one account, doing it for every account brings them thousands every month. Please contact me if you have additional questions or need more evidence, phone # XXXX. Regards, XXXX XXXX
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| 04/17/2021 |
Yes |
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- Trouble during payment process
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Web |
Servicemember |
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I would like to file yet another complaint against my mortgage servicer by the name of PENNYMAC. This is a very despicable company and I believe they are deliberately and wanton willfully refusing to remove unsubstantiated late payment in which I was on a forbearance plan during the time of the late payment reporting. I spoke with some person name " XXXX '' not sure if that is his real name because he is a LIAR. He has given me false expectation and I truly believe he didn't even look into my situation wherein I was on a forbearance plan during XXXX and XXXX and modification during XXXX when I was placed on notice to deploy for active duty. This company is deliberately causing duress and economical and familial harm to me and my family as they are being allowed to place derogatory information wherein I have multiple documents to show I was on a forbearance plan and my mortgage should have NEVER been reported derogatory. It appears this company has a deliberate and illegal way of dealing with their customers as while deployed they NEVER paid my property taxes and when they did I had to contact the CFPB in order for them to do it and they put the balance paid on my taxes wherein they were in TOTAL violation of RESPA when they finally paid they put the amount they paid as a PAST DUE AMOUNT on MY CREDIT REPORT AS IF I WAS $ XXXX due and WILL NOT REMOVE IT AS THIS WAS NOT MY FAULT IT WAS THEIRS..PLEASE HELP ME AS MY PLEAS ARE FALLIN GON DEAF EARS WITH THIS COMPANY AND I HAVE NO OTHER CHOICE BUT TO LITIGATE THIS COMPANY FOR FRAUD, WILLFUL VIOLATE OF RESPA, FCRA , SCRA ad many other federal laws I am sure., I don't want anyone from their company contacting me as the guy " XXXX '' is a liar who set false expectations and deliberately look for ways to refuse to CORRECT MY CREDIT REPORT WHEN THEY ARE WRONG! My ATTORNEY HAS SENT LETTERS AND THEY REFUSED TO RESPOND TO LEGAL COUNSEL AS WELL. THIS IS THE ONLY NEGATIVELY REPORYTING CREDIT and they are willful and wanton to cause me financial harm especially during a pandemic and as returning home XXXX from XXXX.
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| 09/09/2020 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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I had received my normal month-end statement that said our new balance to pay on XX/XX/2020. No where in the statement did it mention a specific process for paying off our balance or that our funds wouldn't be applied like normal during our automatic payment on XX/XX/2020. On Saturday, XX/XX/2020, I received an automated message saying that I needed to call PennyMac during regular office hours regarding my account. I called on Tuesday, XX/XX/XXXX because of the holiday on XXXX XXXX. When I called, I told the lady on the phone that I had received a phone call on Saturday that I needed to call them for some unknown reason and explained that my bank account had never showed that my payment was made. When the lady looked into it further, apparently the balance due was less than the amount owed and that I couldn't pay off my loan using the same method as the previous 3 years worth of payments. I needed to request a payoff demand statement for {$25.00} and pay using a wire check, or certified cashiers check within a week of requesting the payoff demand statement. Had I known this prior to my payment due date, I would have gladly done this, but there was no communication whatsoever throughout the life of our loan that shared this information. I checked on PennyMac 's website that I log into and it didn't say anything. So not only did I have to pay extra fees to pay off my loan, but I was charged interest on top of it because my payment was late. There's no way that a normal person would know this and they made it way more complicated than it needed to be. I was surprised that I never received a letter saying something to the effect of it looks like your close to paying off your loan, here 's your next steps. They chose to not disclose that information to make more money and for that I am really upset. If my previous month 's statement had said anything like that or to call them to ask for payoff next steps, I would have gladly done so, but that was not done and I assumed that everything was good to go because all of my previous payments had gone through.
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| 11/29/2017 |
Yes |
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- Trouble during payment process
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Web |
Servicemember |
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Pennymac Loan Services bought my original mortgage from XXXX XXXX XXXX in XXXX XXXX. I have an exemption at the court house stating my property taxes do no increase due to XXXX XXXXXXXX. Pennymac is the responsible party for my escrow account, in this matter. I received a check in XXXX stating I was over paying on my escrow account, then a during XXXX of XXXX received a statement stating my escrow was increasing and reflected a negative balance for the cushion. In XXXX of XXXX, the County contacted me stating my property taxes had not been paid, and my name would be submitted to the local newspaper. After contacting Pennymac, a payment of XXXX dollars was paid to the county for delinquent taxes. I have now received another statement stating my escrow account is XXXX dollars in the negative, and they require an additional XXXX for a cushion. I called the company and it was explained they were under the assumption, my CO taxes were XXXX dollars a year, and due to the XXXX dollars paid in XXXX for the delinquency and the additional XXXX - which is my actual yearly property taxes, were paid, including my XXXX hazard insurance - my account requires XXXX dollars to be current. My first issue, is the escrow account and payments are their responsibility, they purchased my account, and I am forced to allow them to handle my escrow account. Secondly, if they paid a delinquent payment in XXXX, how did it take almost 9 months to determine my correct tax amount, and why is the mismanagement of this company constituting a financial hardship on my behalf. I could have budgeted all year long, had I been in charge of my own finances. I have just accepted a lower paying job and am not prepared to pay an additional XXXX dollars for my mortgage a month, after I made this career choice based upon my budget. This happens to be XXXX as well, and receiving a debt collection for XXXX dollars for Pennymac 's poor management, is absolutely unacceptable. In addition, they have maintained this account almost two years, their mishandling should not change my life drastically.
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| 07/21/2022 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
Servicemember |
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Penny Mac marketing and sales tactics are misleading to consumers.
In the fall of XXXX, I started working with one of Penny Mac 's most Senior Mortgage Loan Officer on my home refinance. XXXX critical items I was interested in during the refinance were their rates and the ability to make bi-weekly payments.
The Senior Mortgage Loan Officer assured me Penny Mac allowed bi-weekly payments and that there was no prepayment penalty.
After my loan closed in XXXX of XXXX, I immediately started making bi-weekly payments. I later discovered all of my payment were being applied as principle only and was incurring late charges. Nothing on the check directed principle only payments.
I tried to resolve this with Penny Mac who claims they offer a bi-weekly payment service as part of their AutoPay payment service. The words bi-weekly " payment '' was used by the Senior Loan Officer and their complaint specialist. This is misleading to educated consumers.
Payment as defined by XXXX defines payment as : The fulfillment of a promise ; the performance of an agreement. A delivery of money, or it's equivalent in either specific property or services, by a debtor to a creditor.
Penny Mac doesn't actually offer a bi-weekly payment plan. They offer a bi-weekly " plan ''. Penny Mac actually holds the bi-weekly payment until the entire mortgage payment amount if received. Holding a payment isn't a payment. I'd like to repeat this point ; holding a customer 's payment isn't a payment.
The benefits of making bi-weekly payments are erased by this " misleading '' bi-weekly payment process they advertise. I'm aware that Penny Mac is in the business of making profit and certainly not in the business of helping consumers pay off their loans quicker. However, misleading consumers otherwise needs to be stopped.
Penny Mac treats the " payment '' as less than the full payment. And Penny Mac hold this money until the full " payment '' is received by Penny Mac. Once the full payment amount is received they will then apply the payment as defined by freedictionary.com.
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| 01/11/2019 |
Yes |
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- Struggling to pay mortgage
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Web |
Servicemember |
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I am pleading with you to please help me with my lienholder, Pennymac. About 8 months ago, we had to stop making payments due to financial hardship. We are a family that goes above and beyond for each other. We've had XXXX if not XXXX of our kids live with us during our duration of owning the home. Back in XX/XX/XXXX my wife had to have XXXX and that put our income down to one. Then in XX/XX/XXXX/XX/XX/XXXX my wife started experiencing XXXX and XXXX XXXX XXXX XXXX which made her part time job even more part time. In XX/XX/XXXX, my wife had to have XXXX XXXX due to a XXXX XXXX XXXX XXXX XXXX. There was very XXXX XXXX XXXX going down her XXXX. Due to that XXXX she has not been able to return to work due to XXXX XXXX XXXX XXXX XXXX XXXX. Finding a job that she can do has been difficult for her. We did get a modification during XX/XX/XXXX and things were going ok until our property taxes went up so much that it raised our payment by XXXX. There fore making our payment higher than the original payment. While trying to help our kids during this time as well, I changed my withholdings and forgot to change them back. Which resulted in the IRS putting my withholdings at XXXX and freezing it so i can't change it. This has really put us in a position of having to figure out what to pay and not pay. We knew months ago that we would not be able to get caught up so we decided to put the house on the market for XXXX without doing any kind of short sale. For we had no intentions of a short sell at all. We finally got an offer, but due to repairs that need to be done on the house, the buyer backed out. We could not afford to fix the repairs. During the time that this all this is going on, my wife 's nephew and girlfriend left there son here and have not returned. We are now taking care of him and trying to figure out how to keep all the bills paid. On XXXX XXXX my wife was in a car accident and is going through all kinds of XXXX and doctors appt, so for her to look for work is out of the question at this time. This is a real financial hardship for us.
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| 04/05/2019 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
Older American |
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PennyMac received {$470.00} in prepaid interest when they bought my mortgage from XXXX XXXX on XX/XX/XXXX. The loan was almost completely paid off on XX/XX/XXXX. But a recent payoff demand statement does not account for the pre-paid interest collected at closing. Is it possible that PennyMacs system just ignores prepaid interest they receive and customers dont notice it because they usually dont pay their loans off immediately?
please ask PennyMac to explain the payoff calculation. If you think an investigation of their system is in order because this is a general practice, that also would make sense.
here is the history of my loan all of these dates and values are from PennyMacs website : XX/XX/19 new loan, balance {$230000.00}. {$850.00} collected as prepaid interest for XX/XX/XXXX XX/XX/19 loan sold to PennyMac who took a {$470.00} discount for 17 days of interest ( XX/XX/XXXX XX/XX/XXXX ) XX/XX/19 principle pay-down of {$200000.00} XX/XX/19 principle pay-down of {$30000.00}XX/XX/19 regular payment of {$1800.00} of which {$120.00} was interest and {$1600.00} was principal. The remaining {$90.00} went to Escrow.
XX/XX/19 the principal balance is now below {$2500.00} and id like to pay the loan off.
XX/XX/19 Payoff demand letter shows : XXXX {$2400.00} principal balance ( correct ) XXXX ( {$9.00} ) interest due ( wrong! ) XXXX {$13.00} recording fee and release cost so, total interest ive paid is : {$850.00} + {$120.00} = {$970.00}.
with the loan almost completely paid off by XX/XX/XXXX, the total interest due on the mortgage is around {$580.00}. So i would expect an interest credit of around {$390.00}. However, the payoff demand letter shows an interest credit of less than {$10.00}.
i would like PennyMac to explain where the other {$380.00} went or credit that to my account so i can pay off the loan. Numerous attempts to communicate with PennyMac have gone unanswered.
again, if PennyMac routinely accepts prepaid interest without crediting customer accounts, then every PennyMac mortgage customer has lost this money.
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| 10/11/2018 |
Yes |
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- Struggling to pay mortgage
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Web |
Servicemember |
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I am behind on my mortgage due to unemployment. I called the Mortgage company to see if there was anything that I could do, any type of program that I could be involved in. The first time I applied it was turned down because I had XXXX income reported ( coming in ). I called XXXX XXXX to see if there was anything that I could do and they said : " yes '' reapply if I had a " Contributor '' that I could add on the account. They asked me if I did, then they went over preliminary questions with me on the phone. One question they asked was how much does the contributor pay towards the mortgage. I said " {$1000.00} '' a month. After I gave them all of my financial responsibilities they said yes, they had a program that they could enter me into. They sent me the paperwork to fill out, I filled in the paperwork and sent it in with, they called me back and said they needed paystubs of the contributor and from me on my new part-time job. I sent it in, then they called and said that they needed proof that the contributor resided at the address. In about a week they sent me what they call " An Affordable Mortgage '' of {$2200.00} a month. Original Mortgage was {$1800.00}. They wanted a Trial Payment of " {$2200.00} a month, for 3 months. When I called them they said that is the best that they could do. I contacted XXXX and XXXX asked them why they used 100 % of the contributors ' income when the contributor is NOT a spouse and is not on the mortgage. What I was looking for was a temporary mortgage that is affordable while I continue in my job search. I also wonder why they never said there was a program for me when I said the contributor contributes " {$1000.00} '' a month and they used 100 % of the contributor 's income when the contributor also has expenses. I am aware that I am behind, but when I reached out to Penny Mac it was for help. Currently, there is no way I can afford {$2200.00} a month. The VA contacted them also and asked if the would consider extending the term of the mortgage for a lower temporary payment and they said no.
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| 09/22/2017 |
Yes |
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- Struggling to pay mortgage
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Web |
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I just sent this email to Pennymac USA via their web form : " When I called this week for information about the modification process, I asked REPEATEDLY that you NOT BEGIN THE PROCESS WITHOUT MY PERMISSION.
I asked you to send me WRITTEN INFORMATION ABOUT THE PROCESS BY MAIL.
I attempted to call you to make a payment today and was given the runaround. I log in to make a payment and I discover that you have begun this process WITHOUT MY EXPRESS PERMISSION.
I am cc'ing this to consumer advocates and consumer credit regulators. Meanwhile, I am attempting to pay my debt and this is my official notice that you are proceeding on a loan modification WITHOUT MY PERMISSION.
Thank you. '' -- - Pennymac assured me by phone on Monday morning that I was not entering the loan mod process, that my credit pull was a soft pull, and acknowledged repeatedly that I was NOT yet ready to start the loan modification process UNTIL I received hard-copy information via US Mail and had time to look into it and think about it.
I attempted to make my monthly payment today and I was told by a very unfriendly phone rep that I was assigned to a " single point of contact, '' and that I would have to talk with that person. I hung up after trying to explain repeatedly that I was trying to make a phone payment. I came home to make the payment via web and I got notice that I could not make a payment because I had " entered the loan modification process. '' I expressly told them I was NOT NOT NOT interested in doing so at this time -- at least not until I understood the process fully and had received written information from them about it via US Mail.
We have been in this very modest home for 10 years -- bought just a few weeks before the market crash, so we do n't even get to deduct mortgage interest on our FHA loan at 6.75 %. Now we are employed part-time in the " gig economy, '' so we have had to pay late at times, unlike before. But we do pay. This is our only real asset and we are XXXX and XXXX. We are tying to do all we can to protect it. Thanks.
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| 10/01/2019 |
Yes |
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- Trouble during payment process
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Web |
Servicemember |
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My new mortgage was sold to PennyMAC this year.
I attempted to make the first payment with the PennyMAC online payment website, XX/XX/2019.
It was not functioning. It went to an error page. Calling the " customer service '' line was futile. The recording said there were 143 people in line ahead of me. I could use the automated phone payment service though - but at a {$15.00} service fee! Calling any one of their " customer service '' lines resulted in no contact in order to resolve my issue [ I could not have payed over the phone with an automated service anyway, since my house payment came from two different banking institutions. ] I finally took time off work to go to the post office to get money orders to pay my house payment. I have not received a payment conformation or any contact from PennyMAC.
Today, XX/XX/2019, I tried to pay my house payment online at the PennyMAC payment site. I have my military and XXXX pay going to one account now [ with the XXXX XXXX XXXX XXXX through XXXX ] and tried to register it at the payment site. The site said that XXXX 's routing number was not valid. It is the same routing number XXXX offers to all clients, customers and other banking institutions. That is how my government direct deposits get to XXXX Bank. This is the XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX. I do believe their routing number is legitimate.
I tried calling PennyMAC 's " customer service '' numbers. Several of them. This time there were 400 people in line in front of me and one automated answerer said that I would have to wait 40 minutes to get an agent. BUT, I could use the automated phone payment service for the {$15.00} " convenience '' fee. This is called EXTORTION.
I looked PennyMAC up on the XXXX website. There is nothing but complaints about this operation resembling mine or worse, like hidden fees, service charges for late payments and sending harassing foreclosure notices to individuals, like me, who were unable to make their house payments due to PennyMAC 's incompetence - or perhaps by PennyMAC 's design.
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| 01/27/2020 |
Yes |
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- Trouble during payment process
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Web |
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In XXXX of XXXX, our loan was transferred to Penny Mac from XXXXXXXX XXXX XXXX ( I loved XXXX and I miss them greatly ). Prior to transferring to Penny Mac we were on a bimonthly payment schedule. We were told we would be able to continue that with Penny Mac ( that was a lie ). When we switched over to Penny Mac one of our payments was credited as a principal reduction and not a payment so from XX/XX/XXXX through XX/XX/XXXX, we were in an argument with Penny Mac where we had to go back and forth to the point where I had to print out our entire bank account for 2 years to show them all of the payments. They finally credited the payments correctly. We were told we could do bimonthly payments, nope we could not because they said we missed it by not signing up on the XXXX of XXXX and the same in XXXX. So for XXXX and XXXX we sent them payments every 2 weeks. In XX/XX/XXXX particularly we sent 3 payments except one payment they credited to a principal reduction although we indicated it was a half payment. From XX/XX/XXXX until XX/XX/XXXX, we have tried to get Penny Mac to redistribute that money correctly. We stopped sending payments every 2 weeks, we now send 1 payment a month but during the time PennyMac was working to recredit our account, they sent us to collections, charged us late fees, and knocked our credit scores down by 100 POINTS! We were never late. They got both their XXXX and XXXX payments before the XXXX of the month! Here we are with {$110.00} in late fees ( which I'm not paying because it's their fault ) and my credit score sucks. I hate this mortgage company, I want to go back to XXXX and they won't let me. They keep saying I need to refinance but I never asked to be with Penny Mac. I hope everyone stays far away from their XXXX company. And to find out one of their employees told me their system stopped crediting accounts properly when they got a new accounting system that they created on their own but didn't know their own blind spots and since going live they have been back dated with thousands of accounts!
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| 01/16/2020 |
Yes |
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Web |
Older American |
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On XX/XX/19 we began escrow for the property at XXXX XXXX XXXX XXXX. XXXX CA, XXXX. A home inspection was done by a third-party inspector, XXXX XXXX on XX/XX/19. The inspection showed that the rood needed repairs for missing tiles. There were electrical splice issues found in the attic and the light switches in bedrooms did not work. I requested to my realtor that repairs to the items mentioned previously will need to be repaired before moving in and finalizing escrow. My realtor, XXXX XXXX assured my daughter and me that repairs will be made by the time escrow is closed. We took XXXX XXXX word that repairs would be done by the time escrow was closed and we were moved in. On XX/XX/19 we closed escrow on the property and became the owners. XXXX did not hand us the key. The key was left hidden in the backyard of the home. Once we got inside we noticed that repairs were not made and found even more damages such as structural cracks on the side of the home and the backyard. The window in the bonus room is cracked and the vent to the fireplace is also inside of the bonus room which raises health and safety hazards. The bonus room is also an illegal add-on which was not listed in the property listing yet the square footage was added to the property listing. The home has been red-tagged by the gas company because the gas valve was broken and causing a leak. There is rain behind the wall in the bonus room, the ceiling also leaking in the bonus and in the garage. This home was purchased under an FHA loan. All of these repairs are unacceptable under an FHA loan. I have reached out to XXXX XXXX XXXX manager XXXX XXXX at XXXX XXXX XXXX XXXX XXXX and she has been no help to the matter. I only want the repairs to be made and I have been given the run around by XXXX 's team, the lender XXXX XXXX at XXXX XXXX XXXX and the escrow company XXXX XXXX XXXX. I am filing this complaint for help because this was an unfair deal, I would never purchase a home with this many issues. I have attached the closing details to the home in the documents.
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| 02/27/2018 |
Yes |
- Debt collection
- Mortgage debt
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- Attempts to collect debt not owed
- Debt was paid
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Web |
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I spoke with PennyMac multiple times in XXXX, including once with a supervisor named " XXXX '' on XX/XX/XXXX who confirmed a mortgage payoff amount of {$110000.00}, that a demand statement in the amount of {$110000.00} would be valid through XX/XX/XXXX, and that a payoff demand statement would be faxed to XXXX XXXX XXXX the following day.
XXXX XXXX XXXX XXXX contacted me on XX/XX/XXXX to advise that PennyMac had chosen to not respond to the title company 's request for a payoff demand statement and had told the XXXX XXXX XXXX XXXX that there was no payoff demand request that had been found.
I called PennyMac with the XXXX XXXX XXXX employee on the line with me. The PennyMac employee that took that call stated that they found the payoff demand statement, valid through XX/XX/XXXX for the amount of {$110000.00}, and that it would be faxed to XXXX XXXX XXXX XXXX that day.
The following day, XXXX XXXX XXXX contacted me to advise that they still had NOT received the promised document. I called PennyMac once again and remained on the line until the payoff demand statement was faxed to XXXX XXXX XXXX XXXX.
The sale closed on XX/XX/XXXX. XXXX XXXX XXXX XXXX recorded the sale and disbursed the funds to PennyMac to pay off the mortgage.
The day after closing, XX/XX/XXXX I received a call from XXXX XXXX XXXX XXXX stating that PennyMac had sent a second payoff notice with the same XX/XX/XXXX expiration date demanding an additional {$240.00}, threatening to increase the amount if not paid by the end of business XX/XX/XXXX, and threatening to return the amount of {$110000.00} and foreclose and auction a property that they had already received full payment on.
I spent over an hour on the phone with PennyMac on XX/XX/XXXX trying to find out why there was a sudden difference in payoff amounts. I spoke with supervisor XXXX XXXX, who said she could not communicate with the payoff demand department and thus could not provide an explanation. She did not provide a phone number for the payoff department or provide any other information.
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| 11/01/2023 |
Yes |
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- Applying for a mortgage or refinancing an existing mortgage
- Application denials
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Web |
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We had a prior loan with PennyMac with another home that we sold, so we decided to use them since we were familiar with them and had history. In the midst of the loan process I lost my job and so we were just using my husband 's income. He is collecting XXXX and money from rentals. We were asked to put more money down, which we did in an excess of $ XXXX to close. The new construction build was valued at around $ XXXX. In the beginning my husband offered to pay off the few small loans that he had and the loan officer asked him not to. As we move forward with the process, weeks later he told him he would have to pay off at closing. My husband wanted to pay off sooner so that it would not impact his debt to income ratio. The loan officer sent a text asking him to submit copy of his XXXX. He told him that he is not collecting XXXX and never had, just XXXX and the rental incomes from his properties. We were scheduled to close on XXXX to learn on XXXX that the Loan Originator/Officer, XXXX XXXX inputted that he had two XXXX one a XXXX. This is not what we told him. XXXX went ahead and submitted false information. We are not out of a home and close to $ XXXX that we paid to the builder. When we spoke with the loan officers manager on XXXX he told me there was nothing they could do. This is unacceptable, they rode us along all this time. We initiated the call to find out that this was the state we were in. The loan officer 's manager, XXXX XXXX said that he called me on XXXX. I have no missed calls or voice messages from him. I am very shocked with disbelief in the way our file was handled. The loan officer also told us to record that we were paying off our car although he knew we were not doing that. My husband told him, so you want us to lie and say we paid it off? We can't do that. All this took place on a recorded line. We want the money we paid to the builder and his manager made no indication that they were even considering paying us back. XXXX XXXX is the Manager and XXXX XXXX is the Loan Officer we were dealing with.
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| 10/23/2022 |
Yes |
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- Trouble during payment process
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Web |
Servicemember |
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This is the second complaint about my escrow account with this company. The first one # XXXX was closed because the company responded, however the company contacted me after I submitted the complaint and told me one thing on the phone and then they submitted a response to the CFPB that was the total opposite of what I was told on the phone.
This complaint is about my city taxes that were refunded from the City of XXXX, Virginia due to my veterans XXXX tax exemption that was a retroactive refund dating back to XX/XX/XXXX. I have had numerous conversations with XXXX XXXX from PennyMac, and on XX/XX/XXXX she resolved the erroneous tax payment made to the City on XX/XX/XXXX. That payment was credited back to my escrow account. On that day I informed XXXX XXXX that there were four checks coming from the City of XXXX to reflect refunds from XX/XX/XXXX to present. XXXX than informed me that when PennyMac receives the four checks in question that would automatically post to my escrow account and I can call and have those refunds dispersed to me. This has not happened. I went to the City of XXXX and and they informed me that four checks numbered XXXX, XXXX, XXXX, & XXXX were sent to PennyMac on XX/XX/XXXX. In the amounts of {$330.00}, {$1000.00}, {$1000.00} & {$1000.00}. On XX/XX/XXXX there was activity on my escrow account for {$140.00} & {$38.00}. My wife left several voicemails for XXXX but she never responded. When we called customer service they stated that they received several checks and one was applied to the erroneous payment made on XX/XX/XXXX and the other was from the District of Columbia? Again customer service has no idea what they are talking about.
I want to know where are my refunds? PennyMac received the checks on the XX/XX/XXXX and hasnt properly recorded these to my account. PennyMac is a Mortgage Company and a Debt Collector, there is no way that these mistakes can occur. PennyMac puts these funds in their general account so they can collect interest on other peoples money. This seems to me to be fraud.
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| 01/05/2021 |
Yes |
- Mortgage
- Conventional home mortgage
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Web |
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I applied for two loans with PennyMac in the second week of XX/XX/2020 One was a refinance of my primary home for {$510000.00} and the second was a cash out loan for {$370000.00} on my investment property. I specifically requested a simultaneous closing of both loans at the same time and the agent agreed to that. On XX/XX/XXXX I received two e-mail confirmation of the application, rate lock and other details including the estimated cost. Finally they closed the cash out loan on XX/XX/2020 and they charged me more than {$10000.00} as their fees. At the same time they assured me the second loan will be closed in less than 10 days. However nothing happened since then except they kept on asking for the same documents over and over again. Also they checked my credit again last week claiming the initial one already expired.
Before agreeing to close the first loan, I specifically told them I don't want to close it unless the second loan also closed. But it seems like their goal was to collect the fees on my first loan and somehow manage not to close the second loan.
They asked me to show a XX/XX/XXXX balance on a particular credit card. I did. Then they again asked me last month and I did and now they are asking me again this month to do the same. I paid all my credit cards in full every month before the due date and I always have recurring charges. They asked me today not to use that card until the loan is closed. I told them I can not because I have recurring charges which I don't want to cancel.
Now they are threatening me with 48 hour deadline to provide them with the XXXX balance statement or they said they will reject the loan application and close the file.
It is very clear that it is intentional on their part because why would they close on one loan and not the other one.
I believe I lost opportunity for better terms including rates due to their inaction. If I knew they were not going to approve the loan, I wouldn't have took the first loan because I was getting better offers elsewhere.
Please look into this.
|
| 12/09/2023 |
Yes |
|
- Trouble during payment process
- Paying off the loan
|
|
Web |
Servicemember |
|
On XX/XX/2023, Penny Mac replied via mail, expressing they do not honor presentments and endorsements to discharge this mortgage debt. Instead they sent me two huge packages for a loan modification. I am clearly attempting to work with PennyMac in Good Faith, to setoff the debt, as PAID IN FULL, yet continue to be declined.
Verbatim : In fact, your views are not recognized by any court of law or administrative tribunal within the United States. You are further reminded that your obligations under the terms of this duly executed Note and Security Deed are binding, valid and fully enforceable at law.
Pennymac must respectfully decline the documents that you enclosed with your correspondence.
Yet failed to return my presentation ( registered security ). Kindly return my presentation.
Might I add.
HJR-192 superseded Public Law ( what passes as law today is only " color of law ), replacing it with public policy. This eliminated the ability to PAY ( we the people ) our debts, allowing only for their DISCHARGE. When we use any commercial paper ( checks, drafts, warrants, federal reserve notes, etc. ), and accept it as money, we simply pass the unpaid debt attached to the paper on to others, by way of our purchases and transactions. This unpaid debt, under public policy, now carries a public liability for its collection. In other words, all debt is now public.
By continuing to decline, I am expressing a conditional offer. Please see attachments.
I would appreciate this matter being handled in a speedy manner, within the next ten business days, as I have been harassed weeks prior, regarding foreclosure proceedings etc, which are plenty civil penalties surrounding those efforts. I remain in GOOD FAITH to serve the public debt the lawful and correct way.
I have taken many precautions to protect my rights as a consumer, such as filing XXXX with the state of XXXX, and want to work together to help service the countries negative deficit.
Please adhere to my requests. Thanks in Great Faith XXXX : XXXX XXXX XXXX XXXX
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| 03/02/2021 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
|
|
On XX/XX/XXXX I filed a complaint with the CFPB regarding my mortgage holder PennyMac. I explained that they failed to timely pay my taxes and a late fee of {$410.00} was now added to my property tax bill for XXXX. I also requested that as punishment for failure to fulfill their fiduciary duty and contractual obligations that my escrow account be divested from my monthly mortgage payment and that I be allowed to pay my insurance and taxes myself. The taxes have since been paid, only in response to my compliant with CFPB, and my escrow account has been divested from my monthly mortgage payment. Because the taxes and insurance have been removed from the monthly payment, the new amount to pay each month was to be {$1500.00} starting XX/XX/XXXX. Because I have a standing {$450.00} additional principal payment each month, the new amount as of XX/XX/XXXX should be {$2000.00} ; HOWEVER, on XX/XX/XXXX PennyMac wrongfully withdrew {$2800.00} from my checking account ( which is my previous mortgage payment ). This action by PennyMac once again breaches their fiduciary duty, commits the civil tort of conversion, commits the criminal act of theft, and is a breach of contractual obligations in violation of the commitment letter sent to me by PennyMac dated XX/XX/XXXX which altered my mortgage contract with PennyMac. PennyMac has once again shown through their actions, and lack of action, that they are entirely incapable of financial management. I am demanding the following ( 1 ) immediate return of the {$750.00} PennyMac stole on XX/XX/XXXX via direct deposit into my checking account, ( 2 ) immediate suspension and removal of the PMI monthly payment from my mortgage account as financial punishment for their continued wrongful civil acts and criminal acts, and ( 3 ) immediate return of the outstanding monies in my previous escrow account via direct deposit today ( XX/XX/XXXX ) which I have yet to receive from PennyMac as previously promised. I have been dealing with XXXX XXXX at PennyMac who's phone number is XXXX, extension XXXX.
|
| 05/14/2021 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
|
|
Dear CFPB, We own a home in XXXX XXXX that we refinanced with closing date XX/XX/XXXX. The refinance company XXXX was wonderful to deal with and they sold/transferred the loan to PennyMac Loan Services effective XX/XX/XXXX.
A full year 's worth of wind insurance XXXX {$3500.00} XXXX and property insurance XXXX {$780.00} XXXX was prepaid by us during this recent refinance of the property and PennyMac received that escrow money when it assumed servicing of the mortgage loan XX/XX/XXXX. A total of {$5100.00} went to Penny Mac XX/XX/XXXX in escrow to pay for wind & property insurance as well as property tax. PennyMac did not pay the windstorm, hurricane, and hail insurance or property insurance when due on XX/XX/XXXX and the wind & property insurance lapsed and we were sent notifications that we no longer had this insurance coverage. PennyMac actually started to communicate with us about our loan on XX/XX/XXXX so it had over 6 weeks to prepare for this escrow payment.
We spent hours during this timeframe trying to reach a representative at PennyMac but had absolutely no success in navigating the phonetree options at XXXX.
We received a very threatening warning letter on XX/XX/XXXX from PennyMac dated XX/XX/XXXX stating that we had let our XXXX XXXX windstorm, hurricane, and hail insurance expire or lapse. The letter stated that PennyMac was going to purchase insurance for the property and that we would need to reimburse PennyMac.
Ultimately this was resolved with PennyMac paying the insurance coverage out of escrow but it took many calls and emails from us and our insurance representative to get this accomplished.
We have owned many homes in our lifetime and undergone many initial mortgage applications and refinance processes and our experience with PennyMac over this insurance escrow issue has been the worst, bar none. Because of similar complaints raised in the XXXX website we feel it is our duty to bring these complaints forward to the CFPB.
The company has all relevant emails and documentation on this.
|
| 12/13/2021 |
Yes |
- Debt collection
- I do not know
|
- Attempts to collect debt not owed
- Debt is not yours
|
|
Web |
|
|
I am in receipt of XX/XX/2021 letter from a robo-signer XXXX XXXX XXXX , Research Department ( ? ) who informed me that XXXX of XXXX ( XXXX ) Letters of Acknowledgements I received last week was sent to me in error.
Seems like PennyMac try to negate the acknowledgment letter. It does not specify the date of the letter being negated. And of course it leaves open all the other acknowledgment letters, which are subject to considerable doubt. The signature is electronically affixed, which does leave open the question of whether or not the signatory knows anything about the letter.
Can you identify which particular letter was sent in error? On which date? By whom and from which location it was sent, with full name, position with the Company, office address and phone number?
Can you identify employees who prepared and sent me these letters of acknowledgements, along with their business address, phone number and email?
This is also a demand for written verification of XXXX XXXX XXXX XXXX XXXX XXXX signature on this letter, under XXXX XXXX XXXX XXXX ( XXXX ) XXXX and a letter of Authorization from XXXX if XXXX typed signature was attached by someone else.
Please identify the name and position of PennyMac 's ( or other company ) employee whom XXXX XXXX authorized to use his signature on this letter.
If this letter was prepared by outside vendors, identify the name and business address for this Vendor and the Fintech system they used to prepare this letter.
XXXX requires the authentication of electronic signatures, and defines an electronic signature as an electronic sound, symbol or process attached to or logically associated with a record and executed or adopted by a person with the intent to sign the record when a dispute arises regarding whether a signor 's electronic signature is authentic, I demand XXXX XXXX XXXX XXXX XXXX XXXX me a XXXX signed XXXX, with his direct contact information and email, along with verification that he personally prepared and mailed me this letter on XX/XX/2021 Regards XXXX XXXX
|
| 02/16/2016 |
Yes |
- Mortgage
- Conventional fixed mortgage
|
- Loan servicing, payments, escrow account
|
|
Web |
|
|
I received my escrow statement from the mortgage company that acquired our new loan from the originator bank. The escrow statement had my escrow shortage at {$840.00} and listed my county property taxes at {$4200.00}. This was going to increase our mortgage payment by {$280.00} a month. I knew that the county taxes were incorrect. I contacted the mortgage company and told them it was incorrect on XXXX XXXX. They told me to contact the county and then it should n't be a issue. I did this and even printed out the current county tax bill which is only {$2100.00}. I then called the mortgage company back and told them. They advised to fax the bill in and they would tax care of everything. I advised I was trying to take of this matter prior to XXXX XXXX when the next bill would be due. I called back every few days and kept getting the run around that someone was working on it and that they did receive my tax bill. I continued to do this until around XX/XX/XXXX when a rep advised that the case was closed and that they were n't going to do another escrow analysis until the next cycle, which would be XXXX 2017. I told them I was n't going to be paying double my county taxes for the next year to only get a refund in 2017. I knew that they could fix this. I 've been with another mortgage company for over 7 years. So I requested to speak with a manager. A manager finally called me back late that evening. She acted like she understood me and that she was going to get everything fixed. I 've since spoken with her a few times and each time have to re-explain the issues. Today XX/XX/XXXX, she called me back and thought that my complaint was that I had to pay the {$2100.00} on top of the {$4200.00}. I again explained I was being charged double and wanted to get the payment corrected so that I could make my regular monthly payment amount. She again advised that she was trying to get the issue fixed and waiting on new people.
I feel that they are n't understanding what is needed to be fixed and that this is just going to continue.
|
| 09/09/2021 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
|
|
My current Mortgage Servicer, PennyMac, escrows my taxes and insurance. I noticed on my county tax assessors website that there was an outstanding bill in XXXX of this year. I called into the Customer Service line and was told that all taxes due would be paid by PennyMac from my escrow account in XXXX of 2021. I checked to make sure that my taxes were paid in XXXX and noticed that they had not paid the bill from XXXX and had only paid the taxes a new, more recent bill. They had skipped over the original tax assessment. I then called the county tax assessor for clarification and was told by them the the bill was overdue and collecting late fees/interest and that the mortgage servicer should have paid the bill when it was due.
I then called back into the Customer Service team at PennyMac and was told that while they do escrow for taxes, that they don't verify that my taxes have been paid and said they are not responsible for paying the taxes since my home was a " New Construction '' home.
I have now incurred more late fees/interest but PennyMac has finally disbursed the overdue taxes from my escrow account. However, they took out additional funds to pay the late fees/interest even though it was PennyMac 's error for not paying the taxes on time. I'm asking that they pay the fees and interest and place those funds back into my escrow account.
Also, they have gone back and forth on this issue. When I brought up that there was a tax bill, I was told by Customer Service that they would pay the bill. Then in XXXX they did not pay the taxes and was told that it was my responsibility as a homeowner. Now, they have recently disbursed funds from my escrow account to pay those taxes. If it wasn't there responsibility to pay then why did they finally pay the taxes after I filed a complaint?
I have attached PennyMac 's response about paying taxes on " New Construction '' homes. With the amount of new home sales in the past year, I would imagine I'm not the only customer that has had issues with taxes not being paid.
|
| 06/16/2023 |
Yes |
|
- Trouble during payment process
|
|
Web |
Servicemember |
|
PennyMac Loan Services , LLC, since the start of the Pandemic, has totally removed and or now removing online access or web-based access from service members or civilians to make monthly payments to their mortgages, demanding that member have to call in and make payments over the phone.This removal of access or retaliation began when the Covid-19 Mortgage Relief programs and if you were approved for any state assistance, PennyMac is restricting your access or ability to make monthly payments to mortgage accounts. I am utterly disgusted and frustrated at these mortgage servicing companies arbitrarily dictating how when and where a homeowner should make his/her payment. After trying for XXXX days to make my payment I finally called them today XXXX XX/XX/2023. Initially I thought I had something wrong with my electronics, the recordings stated they were experiencing high volume calls, long wait due to system upgrade/updates. Upon conclusion of that call I told I realized that this was the reason. As a XXXX XXXX XXXX XXXX XXXX XXXXXXXX XXXX ) I travel a lot for XXXX and don't a cellphone access as times to be calling and the waiting times are from XXXX minutes or more. I applied for a little assistance to the said mortgage relief program. I was informed by the representative that I was approved and that is why I am restricted to continue to making my monthly payments online ( I have no late or missed payments ). She initially stated that the program required this restriction. I further refuted that blame as read the requirements of the program to her and it mention nothing of the sort. She went on defending the restriction stating that If I want have this ability restored, I needed to cancel my enrollment and approval for support into the State Mortgage Relief Assistance program. This is straight retaliation towards folks who apply to programs to keep their homes. This is crippling the flexibility and access to make my monthly payment if I am not able to make a call while on military travel. Totally unacceptable.
|
| 12/02/2015 |
Yes |
- Mortgage
- Conventional fixed mortgage
|
- Application, originator, mortgage broker
|
|
Web |
|
|
I recently had an offer accepted on a house and started the mortgage process. The house is in historic XXXX XXXX. in PA, and was originally a bank barn that was later converted into a house. I chose PennyMac for my mortgage process since I was already an existing customer. After accepting an offer on my current home and after PennyMac received the appraisal on the new home, they denied my mortgage application because, even though there was an appraised value, it was " not the type of home XXXX deals with. '' They later said that the reason was because it was labeled as an " earth berm home '' and that I 'd have trouble getting a loan from anyone that deals with Fannie Mae.
I researched the issue at XXXX 's website and found the exact opposite to be true. They do not have any issue with berm homes so long as there is an adequately appraised value. After contacting PennyMac again, I was told that they misspoke and meant to say that it was a PennyMac overlay and not a XXXX guideline.
I asked to speak to a supervisor at this point, and on the phone, I was told that it had nothing to do with the fact that it was labeled as a berm home, but rather that the appraisal was full of language stating that the property was so unique that it would be difficult to sell in the future. Living in the area, I know this is a poor assessment. At this point, I still do not have my appraisal documentation so I can not verify the actual language used that is in question.
Following that phone conversation, I then received my official mortgage denial letter. The reason stated was, again, that the house was a " berm home '' and did not meet " page XXXX '' of XXXX 's guidelines.
The reason for my mortgage denial, I feel, is being sorely misrepresented. They have given me wildly incorrect information that had a great potential for ending my attempts to purchase this home had I not done due diligence in verifying their claims. I am currently working with a new mortgage broker to try and salvage the attempt to purchase my new home.
|
| 06/10/2023 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
|
- Incorrect information on your report
- Account status incorrect
|
|
Web |
Older American |
|
Between the time of XX/XX/XXXX and XX/XX/XXXX my mortgage was sold to another company ( XXXX sold to PennyMac ). During this same period I was in the hospital with XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXXXXXX, ( due to damage from XXXX treatment ). I was XXXX XXXX XXXX XXXX XXXXXXXX transplant and in and out of consciousness. During this time my wife began taking over all bills and gaining power of attorney. Unbeknownst to her as well; was the fact that the mortgage had been sold. At some point in XXXX she realized she had not received a statement/bill. She called XXXX XXXX XXXX and found it had been sold to PennyMac. She called PennyMac and found our mortgage was in arrears because the bills had been sent to the wrong address ( not our address of XXXX years but the address of the new mortgage where she was not residing. ) She immediately contacted our XXXX XXXX XXXX XXXX and XXXX XXXX at ( XXXX XXXX ) and initiated a wire transfer to put the account up to date, at the same time spending at least XXXX hours on XXXX different days Between XXXX XXXX on the phone with a gentleman named XXXX from PennyMac who was initiating foreclosure. I continuously asked him to look at the wire transfer number and he made no attempt. Finally, I asked him to allow a XXXX way conference call with our advisor ( XXXX XXXX ) from XXXX XXXX, and when the finance XXXX asked him to look at the transfer number, he found the XXXX had been put into the wrong account. They finally corrected the matter a few days later. Since then ( over a year and a half ) we have received calls daily from debt relief robo calls, and they do not stop, even though we are actually ahead on our payments by several months. We have called several times including today ( XX/XX/XXXX ). and asked that they update/correct the information on the credit report and they said they would have to send it to their research department and they would not update it. This is affecting our credit score. We would just like them to update and correct the information they have.
|
| 08/01/2023 |
Yes |
- Mortgage
- Other type of mortgage
|
- Trouble during payment process
|
|
Web |
|
|
Dear CFPB, I am writing to you to formally file a complaint against XXXX due to their gross negligence and lack of transparency, which has led to a significant financial setback for me.
In XXXX, I purchased a property with a mortgage from XXXX XXXX XXXX which was later sold to PennyMac and in the closing disclosure document, my property tax was estimated at around {$2000.00} annually. However, I recently discovered that my property tax was escalated to {$8000.00} in XXXX due to my status as a non-resident in the county. This was a crucial detail that neither the mortgage company nor the local tax office had informed me about, thus depriving me of the opportunity to rectify my residency status.
Despite this substantial change in the property tax assessment, PennyMac did not provide any notification until XX/XX/XXXX through an Escrow Analysis document, revealing a negative escrow balance and proposing an unexpected increase in my monthly mortgage payment. This delay in communication has led to a financial burden that could have been preventable with prompt and transparent communication.
I have already expressed my concerns to the mortgage company and have made it clear that I do not accept the increase in my mortgage payment due to this issue. However, I have not yet received a satisfactory response or resolution from them. Given the magnitude of the problem, I feel compelled to involve your bureau in order to reach a fair resolution and to prevent such incidents from happening to others.
Enclosed with this letter are copies of my original closing disclosure, the recent Escrow Analysis document from PennyMac, and the email correspondence I have had with them regarding this issue.
I kindly request your assistance in investigating this matter and helping me reach a fair and just resolution. It is crucial that companies like PennyMac are held accountable for such oversights to ensure the rights and financial well-being of consumers.
Thank you for your time and consideration.
Sincerely, XXXX XXXX.
|
| 12/15/2018 |
Yes |
|
- Trouble during payment process
|
|
Web |
|
|
When we purchased our home in XX/XX/XXXX the lending company, XXXX XXXX, qualified us with a payment that only included property taxes on the unimproved land. The tax payment totaled about {$500.00} a year. The actual taxes on the improved land were about {$4500.00} a year. The difference in monthly payments was about {$350.00} per month which would have prevented us from being qualified due to the debt to income clause for FHA loans and also not to mention we could not afford a {$1400.00} payment at the time as we only had budgeted for {$1000.00}.
Fast forward to XX/XX/XXXX when we received an escrow analysis letter. This stated our escrow account was negative {$4000.00} dollars and we had not been called or notified prior to this letter. The reason it was negative was due to the property tax bill being paid out of that account in XXXX for the proper amount of property taxes with the improved land, about {$4400.00}. The escrow account had been negative for over a year and we had not been notified as well as not seen the balance inside our online account with Pennymac.
I called Pennymac after this to see if there was anything that we could do to mitigate this issue and not end up having to pay a total of {$8000.00} which was combined the negative balance from XXXX and XXXX. The original options they gave me were to pay the total up front, then my mortgage would only rise to {$1300.00} or spread the {$8000.00} balance over 12 monthly payments added to my mortgage, which would have doubled the payment from {$1000.00} to {$2100.00}. We could not afford this. When I called, they offered to extend the {$8000.00} balance from 12 monthly payments to 36 monthly payments which would then put the payment at {$1600.00} per month.
This is then where we are, with a payment that went up {$650.00} overnight that we can not afford long term. We are burning our savings doing this and working two jobs. We could possibly lose our house because of predatory lending from XXXX XXXX and oversight on Pennymac 's side.
|
| 04/30/2016 |
Yes |
|
- Loan servicing, payments, escrow account
|
|
Web |
|
|
I am still waiting for PennyMac to release insurance funds meant to pay for a repaired roof.
The XXXX tree that snapped and fell on my house in XXXX has been removed, the roof repaired, inspected, and all requested documents have been received, yet PennyMac refuses to say when I can expect to receive the check. Their representatives reveal new and unexpected delays every time I call, always adding that I can expect further delays if something unforeseen arises. Tomorrow will be XXXX XXXX, and PennyMac expresses no regret that I and my family have been severely inconvenienced by what appears to be a deliberate strategy to earn as much interest on the funds as possible. Numerous allegations of loss draft fraud by PennyMac can be found online. All contain similar stories, and advise customers to reach out to agencies such as this, and the state attorney general 's office as the only reliable way to encourage PennyMac to uphold its obligation, and not exacerbate catastrophes simply to make a few a dollars at their customers ' expense. When I asked if there is anyway to expedite this process, their representative told me that my case would " have to wait just like all the others. '' I should add that my mortgage payments have never been late, and that I had no reason to anticipate such blatant disregard for my time and situation. Travel plans have had to be postponed due to these unjustified delays, and I am deeply XXXX to pay the contractor whose urgent work was done in a timely manner. How many more months will it take for PennyMac to release the funds? How long can they legally postpone payment by claiming their various internal procedures must first be met, like XXXX to 5 days for each of several stages, like requesting the check, receiving it, sending it, and XXXX delivering it? I do n't believe these delays are legitimate, but merely designed to take advantage of their customers during a time when cooperation from their lender is most needed. It is a shameful and demeaning way to operate a business.
|
| 03/30/2023 |
Yes |
|
- Applying for a mortgage or refinancing an existing mortgage
|
|
Web |
Servicemember |
|
In XXXX, I bought a house with my son 's father. Sometime in XXXX, the mortgage company, XXXX XXXX XXXX transferred business to Pennymac. Once it was transferred, my name was no longer on the mortgage. When I called regarding this, they said they have no record of what I'm talking about and then wouldn't talk to me, only XXXX XXXX, who was also on the mortgage, but they only had him listed. It was also removed from my credit report.
XXXX our relationship ended. I took my name off of all shared accounts. I did not contact the mortgage, as I was told I wasn't on it.
XXXX I notice it back on my credit report, due to it almost going into foreclosure. They told me that if I didn't sign paperwork letting XXXX XXXX change the terms of the mortgage, the house would go in foreclosure, but I can get off the mortgage in XXXX months. They told XXXX XXXX to get me off the deed and that would make the process faster/easier. So he did that.
XXXX, after the few months they stated, they now tell us he has to make XXXX on time payments, and I can not get off without refinancing. And the fact he took me off the deed, did not matter.
XXXX months comes and goes and it's a whole different story.
Everytime we call, we get told to do different things, or get told different things. I just want to be off the mortgage. I have had XXXX other addresses since that home, so it's clear I do not live there and haven't in awhile. They refuse to do any pardons that would avoid refinancing to get me off and not have my son 's father 's mistakes affect me, and I'm stuck in a rut with a mortgage and a house that I don't even live in anymore.
They are not taking any responsibility. If I knew my name was still on the mortgage, I would've removed it like I did everything else. Not find out I'm back on after it almost goes into foreclosure.
They do not communicate well or consistently. There are options out there for people like me, and they refuse any peaceful resolution and rather make things difficult since the beginning.
|
| 12/17/2020 |
Yes |
|
- Trouble during payment process
|
|
Web |
|
|
I typically prefer to pay bills by check, however occasionally it is necessary for me to pay a bill online, either with a credit card or by entering my bank account info. Once the payment is made, I always delete the payment method from the website so that it is not saved. Since 2013, I have paid my mortgaged, serviced by PennyMac, with a mailed check. However, about a year ago, I was not able to get check in the mail in time, and have never had a late payment so I paid online with my bank acct. I selected the ONE TIME PAYMENT button. After payment made, there was not a way for me to delete my bank acct. I could only edit it or add a new acct but not delete. I called Penny Mac and they explained they have it set up like this on purpose so they will have a payment method on file for future payments. Since I requested it be removed, they did so but it took a couple of days because the request had to be submitted to a separate department.
I am experiencing the same problem again now, however, Pennymac is REFUSING to delete my bank account information. I have made multiple requests in writing ( since XXXX XXXX through Pennymac 's message center on the website, as well as several verbal requests over the phone. At first my requests were answered with instructions to delete the account myself, although the DELETE button that I was instructed to click, does not exist on the loan holder 's end. Apparently it is visible to the Pennymac staff but not to me. I even sent a screen shot to the manager of the customer service department, showing that I did not have the delete option the manager and several reps have mentioned. Now, I am being told they WILL NOT delete my account info even though I have requested this multiple times. XXXX, a PennyMac Loan Specialist tells me through the message center that this is a benefit to me and to " please rest assured your information is secure and safe. '' Is it legal for PennyMac to continue to obtain access to my bank account even after I have requested it be deleted?
|
| 09/28/2016 |
Yes |
- Mortgage
- Conventional fixed mortgage
|
- Loan servicing, payments, escrow account
|
|
Web |
|
|
My name is XXXX XXXX. I need to complain about PennyMac because they denied my loan modification request for second time. I got a loan to purchase my home from PennyMac on XX/XX/XXXX. At that time I had no problem to pay my mortgage because my husband was XXXX and had good income to help me to pay my mortgage. But effects of economy crashes hit my husband business too and he lost everything. My husband went through XXXX and as a result left me and our XXXX years old daughter. I spent all of our saving to keep my home but my saving ended on XX/XX/XXXX ; it was when I applied for loan modification with Penny Mac. PennyMac denied my loan mod request and proceed the foreclosure. I borrowed money from friends and family to save my home. I am working 16 hours to pay my bills and mortgage but this does n't let me to spend time to raise my XXXX years daughter properly and the other hand after my XXXX XXXX years ago- and going through XXXX, my XXXX so bad that I can not spend so much time on my feet. PennyMac offered me to sell my home because there is some equity on it. I did n't agree with PennyMac offer because selling my home pushes me to rent a place. The rent would be higher than my mortgage and the other hand I will spend the equity of home toward the rent soon I will be out of home and money. I again appiedy for loan modification this year and PennyMac denied it again and said XXXX XXXX does n't accept the request because I am paying my payment every month. Reality, I am struggling with payment.I am working 16 hours a day and asking help from my family every month and I can not continue any more. Last year when I did re-instead my loan I was charge so much by PennyMac for legal and other fees which added to my debt. I have to be in default again to be able to request loan mod but I afraid because PennyMac will charge me another legal and other fees. I need some one help me to modify my loan and reduce my payment. I can not continue to work 16 hours with having a XXXX years old child and XXXX.
|
| 12/10/2022 |
Yes |
|
- Trouble during payment process
|
|
Web |
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On XX/XX/XXXX, my mortgage was supposed to automatically withdraw the monthly payment. On XX/XX/XXXX, I logged into my account and there was no sign of a payment being processed for the month of XXXX either in past or pending payments. There was a box that indicated the next automatic payment would be processed on XX/XX/XXXX. I then made a payment on XX/XX/XXXX since one had not been made. On XX/XX/XXXX, I logged into my account once more to double check. I was then able to see that two payments had been made-one auto payment and the one-time payment. At this point I called PENNYMAC and was instructed to notify my bank and request a stop payment. The supervisor at PENNYMAC said they would also issue a refund for the other payment and that my account would then be current. They also stated that they were currently submitting a formal complaint and that the app developers would be made aware of the incorrect information regarding automatic payments on their app. On XX/XX/XXXX, I made a full XXXX payment once again and this was posted through my bank as I had noticed that both payments were reversed. On XX/XX/XXXX, I received a message from PENNYMAC that my payment was not processed due to my account being frozen. When I logged in to check, there was record of a payment posted on XX/XX/XXXX, however it was indicated that a payment was not made for the month of XXXX. When I called and spoke to another supervisor at PENNYMAC, I was told that they returned an extra payment and that my account was not current. The payment made on XX/XX/XXXX was supposedly applied to the XXXX payment. I was also told it was standard procedure for them to refund money they had not received. They also shared that the previous supervisor should not have advised me to initiate both returns and that they were mistaken for that. When this supervisor stated they would be submitting a complaint and that it would remain accessible to anyone who views my account, I asked if they could see the prior complaintthey could not.
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| 01/24/2018 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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Property was purchased in XX/XX/XXXX for {$230000.00}. Assessment value of {$230000.00} at time of purchase. Loan was for a 30-year fixed at 95 %. Accelerated payments were made to the loan to achieve over 20 % accelerated equity in just over 1 year.
The loan states it will remove the monthly PMI on XX/XX/XXXX unless the " the principal balance actually reaches 80 % of the original value of the property '' and four conditions are satisfied : I feel the bank and I agree that first 3 points are met, the four data point : " we receive, if requested and at your expense, evidence satisfactory to the holder of your loan that the value of the property has not declined below its original value, and certification that there are no subordinate liens on the property. '' I kept asking why is the bank requesting a BPO or assessment and they have not been able to respond to this question after multiple requests. The bank responded with it is required per the contract. However, it is not required, it is " if requested '' It has only been about a year. Why is it requested? The XXXX XXXX market is increasing as a whole and multiple documented sources provided.
After 6 unsuccessful emails back and forth where the bank providing the exact same document I provided on my initial request to them. ( I kept asking " why '' is it being requested when it has only been a year ) I conceded and agreed to paying {$100.00} to {$300.00} ( the bank states its somewhere in that range ) for a BPO assessment.
The result of the BPO stated the house decreased in value from $ XXXX to $ XXXX. The BPO failed to use the same floor plan that sold on the same street for $ XXXX and has a smaller yard, only 2 car garage instead of 3, and less upgrades inside. Also, there is a similar house that just sold two doors down for $ XXXX with a slightly larger lot but significant electrical issues.
Please assist with removing the PMI. We need our loan balance needs to be below {$180000.00} and the current balance is at {$180000.00}.
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| 04/02/2019 |
Yes |
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- Trouble during payment process
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Web |
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This is a new complaint of fraud. Effective XX/XX/2019 my home insurance policy with the Georgia XXXX XXXX lowered my home insurance in the amount of XXXX down from the projected {$770.00}. Because XXXX XXXX sent a check for {$770.00} to Georgia XXXX XXXX my home insurance company Georgia XXXX XXXX refunded a check back to XXXX XXXX my mortgage company instead of refunded the check to me directly because they trusted XXXX XXXX to apply the full refund amount of {$160.00} back to my hazard insurance as XXXX XXXX was legally instructed to have done.I recently received my escrow statements confirming that XXXX XXXX only applied {$71.00} of the {$160.00} that they cashed back to the home insurance portion of my escrow. When I called Georgia XXXX XXXX they sent me proof that XXXX XXXX cashed the full check of $ XXXX.When I called XXXX XXXX they stated that they claim they do not know why only {$71.00} was applied back to my home insurance and the remainder amount to PMI. According to the hundreds of similar complaints reported by other homeowners Nationwide to the XXXX XXXX XXXX XXXX XXXX has been running a fraudulent scam for years taking any extra payments or hazard insurance ( home insurance ) refund checks and only applying a small portion to the actual hazard insurance policy so that they can create a shortage and come back to homeowners literally a year later claiming that the homeowner did not pay enough to escrow.Because they are not within the jurisdiction of the OCC and the Attorney General no longer accepts consumer complaints they are running the perfect criminal fraudalent scam and operation Nationwide with hundreds if not thousands of homeowners ; according to the list of complaints with the XXXX XXXX XXXX. They claim that it was put back into escrow when the instructions were clear the check was a refund to hazard insurance portion of my escrow account the full check is supposed to be applied to hazard insurance not divided to PMI. I have already spoken to the FHA about this.
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| 05/22/2018 |
Yes |
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Web |
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On XX/XX/XXXX, we called PennyMac Loan service to get a payoff for our mortgage. They told us that it would take 7 to 10 business days to receive it. We asked if there was a way to expedite the process because our closing was on Friday XX/XX/XXXX. We called the week of the XX/XX/XXXX and every time the title company and my husband and I called, they said " its pending '' call back later. But it is expedited. They said during one phone call that our house was in the process of foreclosure and it was given to an attorney. However, when we asked them about the attorney 's contact information the loan service said that the attorney would charge every time we called which would add to our expenses which stopped us from calling the attorney 's office. One day my husband called the attorney 's office and asked if he spoke to someone about the process our house was in, would we get charged just for inquiring? They said absolutely not. Therefore, the loan service had lied. Our title company has been authorized to call our loan service as well and everytime they call, customer service is super rude and saying there is absolutely nothing the loan service can do. They say to contact the attorney because that is what they are waiting on. We are well past the 10 day mark-up and yesterday my title company called and the loan service said " oh well because it is in the process of foreclosure is could be up to 2 weeks before receiving the payoff. '' This was never stated and the process has not gotten into depth. We called the attorney 's office and they said they have done everything on their part and now we are waiting on the loan service to finish up the final product. We are going in circles and there are still no numbers given of when it will be done and how much we are looking at paying. They are harming me of my financial state. I am not paying the added up charges and interest they are accruing for every day after the 10 day marking period when I should have had my payoff in the first place.
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| 04/29/2021 |
Yes |
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- Trouble during payment process
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Web |
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Dear Sir or Madam, My current loan holder Penny Mac has increased my escrow account that has doubled my payment. They have calculated my county taxes in advance of the XXXX reporting for XXXX and have applied an insane figure of over {$15000.00} based on information they state was reported to them by Florida XXXX XXXX from someone that opened an application with XXXX or XXXX. They told me they would email this to me and I never got this letter they stated they received. When I was made aware of this, I called all programs with FL XXXX and got email confirmations that I am not in these programs and have not borrowed or will be borrowing from them. I am not in the FL XXXX XXXX and am NOT obtaining any financing from these lenders EVER. This was a false reporting. I have told them this and explained that my country taxes as of XXXX are about XXXX a year. I have the proper escrow balance and have never been late and asked that this be fixed within 48 hours as my Mortgage payment is due on the 1st. They said they would fix this and it has not been fixed. I can not pay my normal monthly payment because it will allow only now the payment with the increased escrow amount of XXXX instead of XXXX. My payment is supposed to be XXXX. Not XXXX. If I am forced to pay this amount on the 1st it will be an extreme hardship to me. They have all the supporting documents and they can login to the XXXX XXXX XXXX Tax Appraisers site, I personally when to see a supervisor there and see that there is nothing showing that my taxes have increased 500 %! Please contact them asap to help me get this resolved. I have called them many times, they keep saying it will be fixed but it is not. The direct number to the contact there is Agent XXXX XXXX ext XXXX. I have bought the house in XXXX. Correctly escrowed always ... .have a surplus in the acct for my homeowners insurance for XXXX payment and there is no reason for me to have to pay this completely wrong amount until they decide to fix it! Sincerely, XXXX
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| 04/07/2022 |
Yes |
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- Trouble during payment process
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Web |
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I spoke with Penny Mac Representatives today dated XX/XX/XXXX.
XXXX initially helped me but then transferred me to Senior Representative XXXX.
After more than an hour on phone, my requests were not resolved.
I faced this issue every year with Penny mac.
Last year, PENNYMAC LOAN SERVICES , LLC made the changes, I pro-actively requested, however, on my XXXX, XXXX mortgage bill and online payment system, they AGAIN revert back to the original old, faulty increased amount which was concurred by PENNYMAC LOAN SERVICES , LLC that they will adjust and reduce.
It is extremely time consuming and painstaking to keep track, reach their representative on phone and request these changes repeatedly.
every year, i call and get the escrow analysis revised because of errors such as added reserve to escrow etc. I am monitoring, tracking and reporting since XXXX.
since last year PENNYMAC LOAN SERVICES , LLC moved the escrow analysis date and forced me to pay additional amount in their every year increase in the month of XXXX and onwards.
i have to be pro-active to make sure 1. i request escrow analysis 2. PENNYMAC LOAN SERVICES , LLC do not send hard copy of escrow analysis even after i repeatedly requested.
3. i have to find errors and request every year to revise the escrow analysis i need to make sure PENNYMAC LOAN SERVICES , LLC correct their ways of conducting business with transparency and disclose information in timely manner.
i request PENNYMAC LOAN SERVICES , LLC to revise once and for all their method of calculating escrow analysis to avoid this ongoing yearly challenge.
Request : Requesting actual escrow account breakdown to account for the actual payments in every year payments of months of XXXX, XXXX, XXXX and XXXX.
Need to calculate accurate Reserve Escrow Balance Need to revise Escrow Analysis Statement Requesting to receive hard copy Escrow Statement generated on XX/XX/XXXX.
Requesting to receive revise hard copy Escrow Statement to be generated.
thank you, XXXX
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| 09/08/2022 |
Yes |
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
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About a month ago I was cold called by PennyMac. I am self employed, which I disclosed during the call.
The officer asked if I had filed my XXXX, and XXXX taxes. While I have an approved extension for my XXXX taxes, I have not filed either due to proof of certain COVID related deductions to arrive.
The officer asked if I had prepared a return. I did, but I had not filed it. So I provided that as my XXXX proof of income.
He asked me for a credit card, which I gave him, for an inspection deposit.
Since then I have spoken to many others at PennyMac, each time disclosing that the XXXX 1040, was not a filed return.
I have also emailed the original officer and asked him to withdraw the application, after I found out that we would not be filing until the middle of XXXX.
Moreover the refinance offer was a terrible deal. While I acted out of a sense of obligation and continued to supply the requested documents, after running the numbers here was the offer.
I currently have a primary and second mortgage. The primary is an FHA at 3.25 % with about 25 years, and {$110000.00} remaining. The second is a guaranteed XXXX XXXX for {$40000.00}, at 9.1 %. I also have {$12000.00} in COVID relief owed at 0 %.
The current sum of my monthly payments is about {$1500.00} a month.
I am unsure of the new rate, but the deal was {$180000.00} for 29 years, with no PMI, for about {$1300.00} a month.
I also needed to bring about {$1500.00} to closing and pay for an appraisal which I guess I have already paid for, but have not scheduled due to the issues with the proof of income.
After reviewing the paperwork, it seems quite clear that by proceeding with using the unfiled XXXX as proof of income, I would be committing mortgage fraud, and that since the lender was required to verify the return with the IRS, engaging in the loan, at a minimum would cost me my house.
I don't understand how knowing that, several licensed loan officers have continued to ask me to continue the application.
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| 10/10/2016 |
Yes |
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- Loan modification,collection,foreclosure
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Web |
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XXXX XXXX has been working with servicer, PennyMac, for over four years trying to accomplish a short sale or a deed in lieu. XXXX first contacted her mortgage servicer when her hardship began to avoid foreclosure and find a resolution that benefited all parties involved. Upon review of the short sale in XXXX, PennyMac declined the short sale and encouraged XXXX to complete a deed in lieu of foreclosure instead. Upon completion of the DIL review, PennyMac then advised XXXX to re-list the property as a short sale and attempt the short sale. This was incredibly misleading as the previous buyer walked when the short sale was declined. Now, years have gone by without resolution on the debt and PennyMac 's unwillingness to work with her has caused the property to go into foreclosure. Once again in XXXX, the property was listed for sale via a short sale and an offer was received on the property. We ultimately had to dispute the value set forth by the VA and we had an agreed upon adjusted value and offer in the amount of XXXX. PennyMac then issued a decline on the XXXX offer stating that the net proceeds were unacceptable due to the deficiency on the loan. We reached out to the VA and they confirmed that PennyMac 's decline does not abide by VA servicing guide and that the servicer, PennyMac, should have accepted the short sale offer on the property. Please see attachment. Since XXXX XXXX, we have been unable to get answers on PennyMac 's short sale decline. The court agreed to cancel the foreclosure sale date of XXXX and reset the sale date to XXXX to allow additional time to close on the short sale. The foreclosure sale date is now re-approaching and we have not gotten anywhere with PennyMac. They have encouraged XXXX, yet again, to apply for a deed in lieu. There is a decent offer on the property which should have been accepted back in XXXX. It is clear that PennyMac is not willing to work with this homeowner who is clearly trying to avoid foreclosure and find a resolution.
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| 08/16/2021 |
Yes |
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Web |
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I consumer XXXX XXXX entered into a consumer credit transaction with XXXX XXXX XXXX XXXX on XX/XX/2016 that included a finance charge. Under the provisions of XXXX XXXX XXXX XXXX a ) when a consumer credit transaction involves a finance charge, that is the SUM of all charges. I also put a downpayment down in which is also illegal because a finance charges doesn't involve and comparable cash transactions. I also wasn't given my disclosure of my right to rescission. This must be given to the consumer and it was not disclosed to me during this transaction. I extended my credit to them and granted them the right to extend it back to me under the provisions of XXXX XXXX XXXX. I sold my security interest to them and I'm not obligated to pay any debt under XXXX usc XXXX. XXXX XXXX XXXX XXXX has violated my federally protected consumer rights. It is illegal and against my federally protected consumer rights to pay a monthly payment on a positive balance. PENNYMAC mortgage is a third party debt collect who didn't not have my permission to contact me regarding debt. PENNYMAC illegally obtained my information without my permission. I do not have a contract with PENNYMAC MORTGAGE and they have infringed upon my right to privacy as the consumer under XXXX XXXX XXXX. I am demanding all payments be returned. XXXX has threatened to XXXX XXXX my abode location in which is also illegal under XXXX XXXX XXXX. They can't not take legal action in this manner. PENNYMAC can not validate any debt to myself as the consumer. XXXX is not the holder due course on this account. I'm demanding that they show documentary evidence of this alleged debt that I received an allege loan from them. XXXX XXXX XXXX states that the United States is responsible and I am not responsible or obligated to pay any debt under the FDCPA XXXX XXXX XXXX. PENNYMAC has ruined my financial reputation and has threaten to take my property under fraud. PENNYMAC has sent false and misleading statements in a positive balance.
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| 12/14/2018 |
Yes |
- Mortgage
- Conventional home mortgage
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- Struggling to pay mortgage
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Web |
Older American |
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I have a loan with PennyMac Loan Services LLC. I have received a {$1000.00} tax reduction from XXXX County Tax Office. Twice I reached out to PennyMac about my tax deduction and provided them with a copy of my tax paper showing my deduction from the year of XXXX and it clearly stated my total estimated tax of the year is {$85.00}, that is what my taxes are at this moment and will further be due to my XXXX tax credit. The county and the city gave me my credit deduction, but PennyMac only gave me {$71.00}, when my total tax reduction should be {$1000.00} so they owe me {$1000.00} towards my tax reduction. PennyMac Escrow account department told me that my FHA Loan which they call Hazard Insurance and my personal insurance and property taxes on the home is all calculated in one bill, that's how they break it down and that's is the reason why they say they can't give me a large deductible back from my taxes. I called more than twice and I continue to receive the same answer from PennyMac. In XXXX of XXXX, I received a check from PennyMac {$1100.00}, the check was to reimburse me from overpaying PennyMac Escrow department for my taxes and the years of XXXX and XXXX, which I had to notify them about my overly high tax amount. I sent in a copy of proof of overcharge taxes. My Escrow bill was higher then what my payment and insurance came out to be, due to the overcharging of my taxes in their records. Pennymac sent me 2 statements explaining my escrow, miscellaneous assessment, my hazard insurance payments , county taxes, and city taxes. All that information does not have anything to do with my {$1000.00} tax reduction and it doesn't explain or show why I only received a {$71.00} tax credit from them. My total monthly payments were {$720.00} they only reduce my payment to {$640.00}. When my payments should be a lot lower than {$640.00} due to my {$1000.00} tax reduction. SN : I paid all my property taxes out of my own money to the Tax Commissioner of XXXX County, Ga.
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| 02/05/2021 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
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- Incorrect information on your report
- Account status incorrect
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Web |
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Prior to XX/XX/2020 my payments have been 100 % on time and at least XXXX days early!
XX/XX/2020 - I logged onto my PennyMac Loan Service XXXX app to make my normal payment as I have done previously. ( since I've lived in this house ) I realized once I tried to make my payment the APP was malfunctioning.
I called the number that was listed and spoke with a rep on the phone that stated that they were in-fact having issues with the app so she would help me over the phone.
I nicely agreed and went on to proceed to try to make my payment over the phone ( which I already don't like doing, because of the scams ) She then stopped me and said " Oh, you know you've already paid for this month '' I stated that that info was inaccurate because I pay around the same time every month. She continued to state that I was already paid for the month & if I paid again it would be for the following month. My finances move a lot so I stated I did not want to pay for the following month only this month.
I was already frustrated so I told her never mind, I was just calling to make this months payment, not to be in all this confusion.
Long story short I ended up missing a payment because ( 1 ) the app was malfunctioning which is what caused all this ( 2 ) the rep on the phone told me I did not need to pay for this month ( knowing I didn't know proper loan terms, which were explained to me 2 months later ) I have had my same job during the entire pandemic so my income has not changed and the money was there ( once I saw the missed payment, I paid for XXXX & XXXX the same day ) I called back once I saw all this to speak with PennyMac credit reporting side, and they stated they don't do courtsey late payment removals. I then explained that if the app was working I would have made my payments as normal..
ALSO if the rep just would have reviewed my account or just let me PAY like I was calling to do ALL this could have been avoided!
This has also kept me from refinancing my home!
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| 10/26/2023 |
Yes |
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- Trouble during payment process
- Fees charged
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Web |
Servicemember |
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XX/XX/XXXX I called pennymac to inquire why I had fees assessed on my property after my SCRA protection was in place from XX/XX/XXXX. The agent confirmed that active foreclosure actions occurred a month after the foreclosure was halted. He later stated that those fees were supposed to be reversed and waived due to the SCRA under Section 203. After 15-20 minutes of talking to him talking to his supervisor, I was assured this case would be escalated to CARE 's to correct the monetary issue prior to recording the sale. XX/XX/XXXX I call in the morning to fin out from the customer rep that the complaint had only been put in that morning on XX/XX/XXXX. I again let them know the circumstances and the request i escalated due to the it being the day of recording. hours later around noonish of XX/XX/XXXX, I receive a call that a new payoff had been sent in with higher fees from interest. I call back and talk to a representative who identified herself as XXXX. She stated that everything that was previously stated by the first employee on XX/XX/XXXX was false and that there is a high possibility that he did not even speak. I again explained the situation and she stated this is just the way it is. When I brought up the SCRA XXXX stated that it only prevents a foreclosure from happening and when one is in the process the fees assessed continue to accrue. I mentioned that I believe the SCRA says differently under section 203. I also mentioned that their were active foreclosure actions taken after my SCRA was in place. These actions occurred almost a month after and she stated it was already scheduled to occur and that I was still liable for the fees. After my SCRA was in place I was assessed an estimated {$4000.00} of fees in winterizing the home, conducting inspections, turning on the utilities after they had shut it down, plumbing preservation, new locks for the home among others. All of this happened in or near XXXX which had been weeks after having my SCRA in place.
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| 11/16/2021 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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I was online and paid my normal payment for XXXX of {$1000.00}. Then the account showed my XXXX payment of {$1200.00}. I was shocked to see the increase because I was not made aware of a escrow analysis. I signed up for electronic statements early on because this company was charging a extra {$5.00} if I wasnt paperless. I searched my email for all items from PennyMac and never received any correspondence stating I had a new statement available or a new document available. I have several months of emails stating my payment was received. The customer service rep said that I should login and check my statements every month. Why do I need do something like this when I dont even know when the statement closes? Every other paperless company I deal with sends me notices to my email when statements are available or new documents. This lack of communication did not allow me time to get funds together for the escrow shortage. Now I am being blindsided with a extra {$200.00} payment that I didnt have time to plan for. I logged in the app to try to view the statement and also on the mobile website on my XXXX and couldnt even view the escrow analysis or any statements. The rep tells me I need to use a certain browser or login to a desktop. This is crazy consider most people conduct business from their cell phones these days. It felt like the rep was blaming me and providing me a bunch of ridiculous options. I did not choose this loan servicer. I did a refinance and found out after the fact that my loan was sold to XXXX aka PennyMac. I wonder how many other people had this issue and was told the lack of communication from PennyMac is our fault. Also since they were my new loan servicer, they never communicated in writing in advance about the {$5.00} charge for paper statements. I found that out on the app when trying to make a payment. These are deceptive practices and can be crippling to peoples finances especially during Covid when many people are already struggling.
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| 06/29/2021 |
Yes |
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- Trouble during payment process
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Web |
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I reuested a forebareance period for Covid reasons beginning XX/XX/21. I was approved and used the entire period, making a full mortgage payment on XX/XX/21.
Prior to emgering from forbarence the lender electronically offered me a loan modification, to deal with the missed payments during the forebareance, and offered to lower my interest rate and extend the lenghth of my loan.
Under the CARES act it was my impression that the lender was required not to report negative information to the credit bureaus during my forbareance period. Now, after the offer of modification, I have found that in fact my credit has been adversly affected throughout this entire process.
The full payment I made at the end of my forbareance period has been placed in suspense. I am going to be reported as paying late. Also my load modification itself will lower my credit rating, even though I paid a full, unmodified payment at the conclusion of my forbarence period.
Even the way the forbareance was reported, during the forbareance period negatively impacted my credit, as the bureau used the lack of a payment in the prior cycle as evidence of a lack of credit worthiness.
I have not missed a payment on any loan of credit instrument in over ten years. I have also taken steps to improve my credit worthiness by paying off and closing over half my credit accounts in the past year.
In spite of this, I have a credit score ( on most bureaus and instances ) of below 600, making me ineligable for most types of credit.
In XXXX I was hospitalized for two months, and missed three months of work. I paid every bill durning that period, and only took the forbareance with the understanding that my credit would not be affected by Federal Law.
Because of this issue, I am unable to refinance my home, even though I have over {$85000.00} in equity. I can, however, sell my home, and use the profit as a way to pay off all my debts, and right my credit.
So I have decided I will sell my home.
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| 08/18/2020 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
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- Problem with a credit reporting company's investigation into an existing problem
- Their investigation did not fix an error on your report
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Web |
Servicemember |
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I am having a problem with XXXX removing the following statement from my account : You have too many delinquent accounts. Delinquent describes something or someone who fails to accomplish that which is required by law, duty, or contractual agreement. XXXX is claiming that this statement is there because of PennyMac Mortgage Company. However, I have never made a late payment with PennyMac Mortgage Company since my loan was transferred to the company. They claim they investigated this matter and PennyMac claimed that this information was true. The document provided from PennyMac shows my actual payment amount in some places incorrect. All payments through PennyMac Mortgage are made online. Perhaps they are not handling business correctly on their end, but I can pull bank statements, which will refelct that all payments to PennyMac Mortgage have been made on time. There are no delinquent account so the information they are providing doesn't settled any prior disputes. XXXX continues to find ways of keeping this comment on my credit report but have no proof of any delinquent accounts. If PennyMac Mortgage is reporting incorrect information it concerns me. In looking at the attached document, it has my actual payment incorrect. I pay {$720.00} per month in mortgage fees. My monthly statements may increase because of insurance and prperty taxes sometimes but it will never change if taxes and insurance do not go up. I have no late payments with PennyMac nor any previous mortgage company. My lmortgage has always been paid before the 15 day grace period. My account is not delinquent and never has been. My credit report reflects no late payments with PennyMac Loan Sevices for 4 years, 1mt. Please see attachments. I am sending this to all three credit reporting agencies because I am sure they reflect the same information, which is incorrect information. I will not give up until these statement is removed from my account. I have no ( 0 ) delinquent accounts.
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| 12/19/2018 |
Yes |
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- Trouble during payment process
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Web |
Servicemember |
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Bottom Line Up Front : PennyMac is Required to Manage my Escrow Account per the terms of my loan. I notified them on XX/XX/2018 that they had paid my taxes partially, but not in full. I gave them the correct amount and contact information for the county tax office. They chose not to pay them or inquire with the county tax office. They finally inquired after the taxes were late and paid them. The problem was the late payment incurred a {$170.00} penalty that they took out of my escrow account instead of paying themselves. I was promised in writing and over the phone that if the taxes were not paid on time they would be responsible not me.
Crucial Point : Why was PennyMac suddenly able to determine they had paid the taxes wrong in XXXX after the taxes were due, but not in XXXX before they were due? Why didn't they take the steps I asked them to take on XX/XX/XXXX that they took on XX/XX/XXXX?
Summary : I have a required escrow account for taxes and insurance on my PennyMac Loadn. On XX/XX/2018 I reached out to PennyMac by their online secure messenger. I informed them that my property taxes were not being paid correctly, what the correct amount was, and contact information for the county to fix it. I tried and tried to provide them a digital copy, but I could not get their website to work. OnXX/XX/2018 at XXXX EST ( XXXX ) I contacted PennyMac by phone and informed them I couldnt get the property tax bill loaded ( See page 7 of XXXX Bill under call detail ). I was informed I would not be responsible for any late penalties and they would engage the county digitally and get the correct bill. After many phone calls after the bill was not paid at all on XX/XX/2018 I found out today XX/XX/2018 the bill was finally paid out my escrow. Additionally they paid the late fee out my escrow because it was paid after XX/XX/2018 ( {$170.00} ). Additionally on XX/XX/2018 I papered mailed them a copy of the property tax bill and they said they did not receive it.
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| 09/23/2021 |
Yes |
- Mortgage
- Other type of mortgage
|
- Trouble during payment process
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Web |
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In XX/XX/2020 I experienced water damage due to a botched roof replacement. The damage incurred totaled roughly {$65000.00}. Above the {$20000.00} threshold, all insurance payments are co-signed between homeowner and mortgage lender per loan servicing policy. My lender is PennyMac. Since day one of this water damage situation, I have asked to see my online account ( via insuranceclaimcheck.com ) or related documentation about these insurance funds managed by PennyMac. They have denied access to the online portal and have not produced routine monthly statements of any kind related to these funds kept in escrow. This seems to be a violation of the Code of Federal Regulations : Title 12 - Banks and Banking Chapter X - BUREAU OF CONSUMER FINANCIAL PROTECTION Part 1026 - TRUTH IN LENDING ( REGULATION Z ) Subpart E - Special Rules for Certain Home Mortgage Transactions Section 1026.41 - Periodic statements for residential mortgage loans.
I have no way to track deposits, disbursements, or balances related to my insurance payout and this is in violation of their loan servicing agreement with RD/RHS loans. I have asked a number of times ( more than 10 ) on phone calls and have 2 written letters requesting the same info. I am able to log in to an online portal set up for this function, however, a pop-up blocks my access and I'm told to call their loss draft department for info. When I inquire about lack of access I'm told " this is an account that requires special handling '' or " this is a monitored loan ''. There is still no basis as to WHY I am denied access or other documentation other than this.
Likewise, other reporting information is inaccurate on my monthly mortgage documents ( eg : current LTV percentage, PMI vs annual fee in proper reporting fields ) they have refused to update their record-keeping to keep details organized and accurate.
I keep tidy files and would like my mortgage company to do the same to ensure my figures match theirs.
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| 08/18/2020 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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I have had a mortgage with PennyMac for the past two years. On XX/XX/XXXX, I sent in my annual homeowner insurance renewal questionnaire, but on XX/XX/XXXX I received a letter from my homeowner insurance that they had not received payment and would cancel the policy on XX/XX/XXXX. The homeowners insurance is paid out of my escrow account and handled by PennyMac. I reached out to my insurance agent who stated that PennyMac had been billed, but did not pay. Upon following up and logging into my PennyMac account, I realized that PennyMac had changed my homeowners insurance from a policy with XXXX XXXX to XXXX. I never received a notification that this change was made and almost lost my policy due to the negligence of PennyMac. This is a violation of Regulation X of RESPA.
I called PennyMac on XX/XX/XXXX and explained the issue. The employee was helpful and explained that PennyMac noticed the house was listed as a rider on a separate XXXX policy and decided to switch my homeowners insurance from XXXX to XXXX without informing me. The employee was able to change this back and send payment.
A few days later, I received my escrow analysis from PennyMac and it included a disbursement voucher of over {$400.00} and a significant reduction in my mortgage payment because they used the incorrect XXXX policy in their analysis. After two more phone calls, PennyMac reversed the error and sent out a new correct escrow analysis, this one showing I needed to make an additional payment to my escrow account to meet the minimum amount. This has been an extremely frustrating process and my XXXX payment is still listed as the incorrect lower amount that was calculated with the incorrect insurance premium.
There have been multiple errors by PennyMac which either slipped through their system or there is no system in place to catch these errors. Additionally, the isolating from refund to deficit is wrecking havoc on my budget during a recession and pandemic.
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| 05/22/2017 |
Yes |
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- Trouble during payment process
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Web |
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on XXXX / XXXX / 17 i received an escrow account disclosure indicating a shortage of {$3300.00} from PennyMac loan services. The notice indicated that i had to pay immediately or the amount would be added to my mortgage. On XXXX / XXXX / 17 i r eceived a notice from my credit monitoring service showing that PennyMac had raised my loan amount from {$150000.00} to {$150000.00}. My latest mortgage statement shows my monthly payment increasing from {$1000.00} to {$1200.00} An increase of {$190.00} which can cause financial hardship to my current finances. I did not agree to any new terms with this company and have been told by their representative that they made an accounting error when applying the funds received from me. I was told that this happened due to increases in taxes and insurance but my insurance cost actually went down and my taxes increased by only {$400.00}. annually. PennyMac has failed to clearly explain what has happened here and violated the terms of my loan through negligence and poor accounting. They have sent disclosures with varying mathematical discrepancies that are so confusing that i cant understand. The amounts they ask for greatly exceed anything i can find in relation to taxes/insurance. My credit score has been damaged by them increasing the balance on my loan. PennyMac has put me in a difficult financial situation and now their marketing department is sending me offers to refinance my loan. I have good credit and always make payments on time. I feel fearful and threatened by this company and believe they are trying to force me into a new loan or force me out of my home by nefarious means. I have also contacted HUD/FHA and been unable to get a response from anyone at their national office. PennyMac has not followed agreements made between the original mortgage company ( XXXX XXXX XXXX XXXX ) a nd myself. I have attached the original first payment notification with this complaint.
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| 03/23/2016 |
Yes |
- Mortgage
- Conventional adjustable mortgage (ARM)
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- Loan servicing, payments, escrow account
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Web |
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About a year ago, I called XXXX XXXX XXXX ( my mortgage holder ) because I saw an ad on TV about a government program that could reduce your mortgage payment. All I did was inquire about the program and my mortgage began to unravel like a spool of thread. Long story short they sold my mortgage to a company called Penny Mac. After reading the information of the program I discovered that it is a program for people that are upside-down in their mortgages of which I have NEVER been. After I declined the paper work my payments began to be posted later and later until I receive a notice that I was 2 payments late and Penny Mac was threatening to foreclose on my mortgage. I sent my last payment on XXXX/XXXX/2016 through the US mail. The check XXXX XXXX. It was for {$1500.00}. This was my payment of {$1400.00} plus the late fee of XXXX. This payment has never been posted. The postal worker is my friend and she placed the stamp on the payment and marked the envelope posted so I would have a witness that I sent the payment. The payment on XXXX/XXXX/2016 was made over the phone ( so I had it recorded ) and was not posted to my mortgage either. It was deleted from my bank account on XXXX/XXXX/16. I called Penny Mac and they told me that, " They have my money ... in a " holding account. '' A asked, " Why is my money sitting in a " holding account '' and not applied to my mortgage?!!! I have NEVER signed anything saying I want or need a modification to my mortgage. I am certain there is something very wrong going on. '' The agent told me that by just inquiring about the modification program that gave them the leverage to modify my mortgage. I have worked for XXXX XXXX in my past and have NEVER heard of this! I believe that to modify a mortgage you do need the owners signature. My daughter is a CPA and she informed me to contact you. They have harmed our credit and are trying to do something unethical. I appreciate all the help you can give me.
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| 08/06/2021 |
Yes |
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Web |
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I was on a Covid 19 forebearance program for my mortgage starting in XX/XX/XXXX. Basically, over the phone I was told that my principal payments would be deferred, and added to my loan term, therefore extending the life of the loan. During such time, interest and any payments made on my behalf would also be included. I agreed, as it was fair and how many other relief programs were structured at the time. As the months went by, I realized that I could not afford to keep my house due to disability/Covid issues. So I put my house on the market and sold it. Today, at closing ( XX/XX/XXXX ) I discover that Pennymac had received a claim from XXXX for the principle missed during my forbearance period, and now they ( XXXX ) had a lien on the property. At no time under this program, did I understand this to be how it was to be administered. And it certainly wasn't explained to me that way over the phone. Again, I was told that my PRINCIPAL payments would be deferred, and added to the end of my loan term. All interest and other payments were accruing daily, and was understood. When I called Pennymac after this was discovered at closing, I was told that somehow that I agreed to this. Apparently, the wordy paperwork that they sent for me to sign and filled with legalese, had something completely different than the phone call embedded within. Pennymac was made whole by this insurance payment from XXXX, but I did not agree to such an arrangement. Not to mention the assistance provided to them by the Federal government. I did not pull the notion of my payments being added to the end of my loan out of thin air. It is, in fact, what I was told by the Pennymac representative over the phone. And if they record those calls like they say that they do, you will be able to find that out fairly quickly. In conclusion, the total sum subtracted from my closing statement far exceeds the payments and escrow I have missed during these trying times.
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| 08/28/2015 |
Yes |
- Mortgage
- Conventional fixed mortgage
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- Loan servicing, payments, escrow account
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Web |
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I had a forbearance agreement with XXXX mortgage. my loan transferred to penny mac and they said they never received the agreement, XXXX mortgage sent all the forbearance agreement paperwork to penny mac. When I called penny mac they said there was no agreement and i had to pay the total past due or do a short sale. They never honored the agreement or applied the money i paid for the forbearance to the loan. I tried resolving this problem with penny mac before i did a deed and leau and after with no success. Every time there is new information brought to there attention they just change what they were saying. XXXX mortgage proved to them in a cfpb case that I had a good agreement and penny mac stated that i maid no mention of the forbearance agreement in my deed in leau request. I told XXXX XXXX about in on the phone and in my application process. penny mac chose to ignore the agreement in XX/XX/XXXX and in XX/XX/XXXX. My credit report shows i made no payment to them and i owe XXXX and past due XXXX. I could never make a payment because penny mac would n't accept any payment unless i would bring the account current in XX/XX/XXXX which was impossible because i paid XXXX and XXXX in the forbearance agreement to XXXX mortgage. my only option was a short sale which was unacceptable to me because it was there mistake or predatory lending practices. I have sense received a letter from penny mac saying my loan is paid in full and it 's stamped on my deed. yet my report still shows the mortgage as open and I owe money. Penny mac has cause a lot of turmoil for my young children myself and caused a divorce from financial stress due to bad credit. and still does I was also lied to during the deed in leau process by XXXX XXXX. He stated my loan would be reported as paid in full and a deed in leau would n't affect my credit like a foreclosure, and I 'd be able to buy a house much sooner than a foreclosure which were all lies.
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| 03/19/2022 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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In XXXX of 2020, I initiated a request for my mortgage loan which is serviced by Pennymac to be reviewed for PMI ( private mortgage insurance ) deletion. The process involved paying for a third-party broker price opinion. Due to improvements I had made to my home, especially a new roof I had installed in 2020, I was told ( and independently verified with XXXX XXXX XXXX servicer guide - XXXX XXXX is the owner of the loan ) that I would qualify for PMI deletion if the broker price opinion reflected a home value such that my LTV ( loan-to-value ) ratio at the new value was under 80 %. On background, any XXXX XXXX loan less than 2 years old is eligible for PMI deletion if significant improvements have been made to the home and the LTV after the improvements is less than 80 %. I went through the process, which took about a month, and paid the {$100.00} BPO fee.
About a week later, I hadn't heard back so I reached out to Pennymac. I was inform that I needed to send a roofing invoice and pictures of the roof. This was fine, and I did my best to take a good picture and provide the invoice. I asked and was informed that the BPO reflected a valuation of {$270000.00}, which is WELL above the level it needed to be to delete PMI ( my current mortgage balance is just below {$190000.00}, resulting in a new LTV of below 72 % ).
This morning, I received a notice stating that upon further review Pennymac determined that my valuation was too low to meet the mortgage investor 's criteria for deletion. This is incorrect both based on the XXXX XXXX servicer guide and on what I have already been told by Pennymac. They are fraudulently forcing me to continue paying for PMI despite the fact that it is no longer necessary. It is egregious that the process has taken over a month, that Pennymac is not following the XXXX XXXX servicer guide, and that I've clearly received incorrect information.
( CC : XXXX XXXX XXXX, XXXX XXXX )
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| 12/11/2021 |
Yes |
- Mortgage
- Conventional home mortgage
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
Older American |
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I am truly delighted to share my valued customer service experience with PennyMac Loan Services to any and all potential clients/customers/victims.
I am inclined to believe that PennyMac must be the clone or recent descendant of the flawed XXXX XXXX XXXX XXXX XXXX via XXXX XXXX XXXX.
The lack of live voice communication is overwhelming the initial mortgage loan application began on Wednesday, XX/XX/2021, with a chattery, enthusiastic loan officer. Who ended our conversation with the acceptance of my money for an appraisal fee and the salutations of a used car salesman, never to be heard from again ghosted.
Twelve days later ( XXXX ) I had an appraisal ; 4 days later ( XXXX ) I received the official report/results of the appraisal. There had to be another XXXX takeover of PennyMacs communication system, cause I still have not heard a whimper from the loan officer or his compatriots.
To finally put my mind at ease and solidify my confidence in PennyMac, my emailed messages have gone unanswered and my initiated phone call was vague at best. My loan officer did not remember me; denied receiving any emails and promised to call me back the following day with an update. Needless to say, I sit by the phone with bated-breath, awaiting that long overdue phone call.
My long-suffering contempt for PennyMac is justified for the following reasons : 1. I have been
a loyal, well-standing customer for the past 4 years.
2. I have never missed a payment nor have I been late for a payment.
3. The equity in my home exceeds {$120000.00} 4. My XXXX/credit score exceeds 740.
5. My loan application to refinance with a cash-out was to facilitate a revamped bathroom ; needed to accommodate my recovery of a total XXXX XXXX and advanced age.
I fully understand why PennyMac Mortgage Loan Services is not included in the Top 5 List of Mortgage Loan companies, not even the Top 10. This is a fair warning Sincerely, XXXX XXXX XXXX
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| 12/09/2023 |
Yes |
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- Trouble during payment process
- Trying to communicate with the company to fix an issue while managing or servicing your loan
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Web |
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I got behind on my mortgage payments beginning in XXXX of this year. For this my home was in foreclosure processes but never foreclosed on. I filed loss mignation with the lender but was denied with no clear reason why when called and asked why it was denied. VA was informed of all this. moving forward. Since then, I was able to find a program with an agency called save a dream, that paid my full amount of XXXX but in the sum of XXXX as of XXXX XXXX, XXXX that was owned to the lender. This total amount included ALL FEES, TAXES, INSURANCE and MORTGAGES FEES along with a one month in advance mortgage payment for the month of XXXX XXXX. When I contacted my lender PennyMac about overage payment of XXXX and why they were trying to charge me for late fees in the amount of XXXX they ( PennyMac ) refuse in giving me a clear answer and the answers were always different for the last one. They also increase my mortgage payments by XXXX dollars claiming it was because my insurance went up. After contacting my insurance XXXX XXXX, I immediately canceled them and got another insurance company XXXX which makes my mortgage payment much lower which I informed PennyMac of the change on XXXX XXXX, XXXX, but PennyMac refuse to do another escrow adjustment claiming my monthly payments will still be with the XXXX increase stating XXXX XXXX, XXXX. After talking with XXXX XXXX XXXX several times about this matter with PennyMac they can't understand why XXXX won't take that overage of XXXX and apply it for XXXX mortgage and what's left of that apply that amount to XXXX mortgage and would make up the different for XXXX mortgage, and they PennyMac shouldn't be trying in charging me of any late fees when the payment that PennyMaXXXX have received on XXXX XXXX, XXXX covered all that. As of this very day XXXX XXXX, XXXX PennyMac refuse to open the online payment portal, blocking me in making any types of payments with them online.
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| 10/01/2016 |
Yes |
- Mortgage
- Conventional fixed mortgage
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- Loan servicing, payments, escrow account
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Web |
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We had water damage in XXXX of 2016 at our house. We received our check from the insurance company and then submitted all required documents and check to our Mortgage Company ( Penny Mac ) on XXXX/XXXX/2016. Even though we submitted ALL of the required documents Penny Mac would tell us that we were missing a document even though they had it. After a month of going through that they told me a check was cut on XXXX/XXXX/2016 and being overnighted. I received a Fed Ex tracking number on Tuesday XXXX/XXXX/2016 from Penny Mac that indicated my check would be delivered on XXXX/XXXX/2016 by XXXX. We did n't receive the check so on XXXX/XXXX/2016 I called Penny Mac and ask what the status was. Penny mac told me that I had a " zero balance '' and that a check for {$29000.00} was mailed through XXXX to us on XXXX/XXXX/2016. I told them we did n't receive it ... so I called XXXX ... they told me that the package ( my check ) was never called in to pick up ... so I called back Penny Mac who insisted it was picked up ... so I called XXXX back who track it back to Penny Mac and said they only created a label for it ... so I called back Penny Mac and they did admit now to not sending the check yet, but it would be sent XXXX/XXXX/2016 ay XXXX ... .so I called XXXX this morning ... .guess what? Surprise! No check was picked up. At this point, I 've made maybe a dozen calls and have done ALL I 'm suppose to do. I have significant damage to my house and just want to get back o normal. It 's been two months. Forget about the incompetence because there has definitely been a ton of that ... now Penny Mac is just flat out not telling the truth. I have done EVERYTHING I 'm suppose to do and now I 'm claiming Penny Mac is unreasonably withholding my check. I do n't know where else to go or who to turn to ... I 'm hoping you can help. I can much better explain this in person. Thanks for your help and consideration on this claim.
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| 11/01/2023 |
Yes |
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- Improper use of your report
- Reporting company used your report improperly
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Web |
Servicemember |
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To whom it may concern : On Tuesday XXXX XXXX I received an alert from my credit monitoring service stating that I had a decease on my credit score. When I further investagaed the situation. I seen that I had an inquire from a company that I never heard of called CoreLogic " Credo ''. I researched the company and called the phone that was provided. I spoke to a representative, whom stated that they pull credit upon request from clients they service. She also stated that if I provided her with personal information. She can tell me which client that they had ho request to have my credit ran. Upon the rep checking she asked me do I know Penny Mac. I then in return let her know that penny Mac was my mortgage company, that I currently pay a monthly mortgage to. On XX/XX/2023 I also phone Penny Mac asking why did they pull my credit. I was then asked when was the last time I contacted Penny Mac. I stated that I had not contacted Penny Mac since XXXX of XX/XX/2023. I was told that transaction was done, but I had no knowledge nor did I give Penny Mac my consent. Penny MAC told that someone from their company would be investigate and I will email and follow up with a phone call. I didn't receive a call or either an email. I phoned them on Tuesday XX/XX/2023 and I was told that the investigation was open on XX/XX/XXXX and to give Penny Mac five business to complete the investigation. I was also assure that once the investigation completed that they would reach out to credit bureaus and XXXX on my behalf to correct this issue. Today is XX/XX/XXXX and I reached back out to Penny Mac. I was told that would have to investigate, which I told started on XX/XX/2023. I also requested to speak to a manager, which in return I was talked over, and giving information again about a ticket/ investagating will be done. At this point I have no where to turn and seeking help from you guys at CFPB. PLEASE HELP ME!!!!!!!!!!!!!
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| 10/27/2019 |
Yes |
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- Trouble during payment process
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Web |
Servicemember |
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I filed Chapter XXXX bankruptcy in XX/XX/XXXX. I was current on my mortgage at the time and it is not included in the bankruptcy trustee payment - I continue to send payments to my loan servicer.
Pennymac XXXX, my loan servicer, added itself to my bankruptcy as a creditor for an arrearage of {$440.00} that was mistakenly paid to my previous FHA loan servicer, XXXX XXXX XXXX, and was supposed to be paid to Pennymac by XXXX.
Pennymac began engaging in misuse of a suspense account for my mortgage in XX/XX/XXXX - prior to that time, once partial payments totaled a full payment, they were applied. I get paperless statements and their website was frequently nonoperational over the summer, so until I received a notice that my mortgage was over 45 days past due, I did not find out that Pennymac had stopped applying payments from suspense once the full amount was reached. I spoke with Pennymac to ask them to release the funds as they always had in the past.
I calculated the amount needed to make up the shortfall to 2 full payments ( {$580.00} ) and paid that on XX/XX/XXXX, expecting to XXXX out the suspense account once and for all. This payment did not show up on my account - in fact, I was not able to access my recent account activity or monthly statement for XX/XX/XXXX.
When I called Pennymac, I was told they were switching systems and payments and statements were delayed. Customers received no notification of this.
Imagine my consternation when I was finally able to access the statement on XX/XX/XXXX ( though Pennymac dated it XX/XX/XXXX ), and found that the suspense account still had funds in it ... minus the {$440.00} ( actually, {$440.00}, due to weird accounting practice of adding {$0.00} to the suspense account every so often ) that is due to Pennymac as part of my bankruptcy. This money was to come from the trustee, not from me directly, and certainly not from my suspense account.
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| 08/08/2022 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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PennyMac is my mortgage broker. They allege they issued a check to pay my property taxes at the beginning of XX/XX/XXXX. However, the city of XXXX did not receive my payment and I had no idea. In XX/XX/XXXX, I received a letter from the City of XXXX indicating that my house would be put up for tax sale on XX/XX/XXXX if I didnt pay my delinquent property taxes. I immediately called PennyMac who told me it would take up to 14 days for them to provide me with the tracking information on the check they had allegedly mailed. I continued to spend hours on the phone with PennyMac and then hours on the phone with the City. Finally, I contacted the mortgage provide who sold my loan to PennyMac. He was able to connect me to someone at PennyMac who issued the check in XXXX for my property tax payment that was due in XXXX. PennyMac never confirmed to me that the payment was made. I had to get confirmation via the city of XXXX.
Once the XXXX tax payments was finally received by the city, I thought I was in the clear for future payments. However, my tax payment that was due at the end of XXXX has not been received by the city. I called PennyMac to request proof of payment and they informed me that the tax payment was wired on XX/XX/XXXX. However, they would not be able to provide me the wire confirmation number for up to 5 business days.
Its absolutely absurd that I have spent 16+ hours mediating between the city of XXXX and PennyMac over the payment of my property taxes when PennyMac is legally obligated to pay the taxes from my escrow. I have asked PennyMac time and time again how I can ensure that all future property tax payments are received on time and they have not provided a solid answer. Its infuriating to face possible consequences for being delinquent ( like the fact that my house was nearly put up for tax sale ) when I have no control over the transfer of funds from PennyMac to the city.
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| 03/02/2017 |
Yes |
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- Loan modification,collection,foreclosure
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Web |
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Hello I am wanting to save my home. They have not worked with me on on foreclosure preventive options. I called to apply for a loan modification or any type of program to help me save my home to stop the foreclosure. No one has helped me, nor mailed me a letter or offered me any type of repayment plan or anything. I received a letter and text from a lady stating she bought my home then I got a reinstatement letter from Penny-Mac afterwards. I went down to the county records building and saw that they lady is attempting to change my deed to her name. I need help and the service they are giving me is not helping at all. I have XXXX and need help saving my home, stopping this foreclosure and eviction.
History, I lost my job and contacted them after looking online for some assistance help. The lady I spoke with when I called told me that she would mail me some paperwork that I have never received. I called after some time and was told I was denied and would be mailed some more papers with options. I did not receive anything then. Then the next thing a strange lady came to my house and said that she had bought my house. No notices or anything was delivered or posted at my house. I was not aware of anything and no one is trying to help me save my home. When I call I get some one who is rude and dont want to help me. Now someone is saying I may have to move. I received a reinstatement letter after the lady came saying she is trying to buy my house. I contacted the records building and they told me that same lady was trying to change my deed to her name. Can someone please help me. My loan is currently with Penny Mac it was with XXXX XXXX XXXX so I dont even know what or who half the time. My loan number is XXXX.
I need someone to help me to have the foreclosure process stopped and help saving my home. For myself to be reviewed for the programs that are out there to help me save my home.
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| 06/22/2020 |
Yes |
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Web |
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After paying off my FHA loan from XXXX through refinancing with another lender, I was supposed to receive a refund of my escrow account in a total of {$850.00}. The refund was due in XX/XX/XXXX but I never received a check of that amount. By calling XXXX customer service, the refund amount was verified and I was promised to be issued a refund shortly. I called XXXX again in XX/XX/XXXX to follow up on the status of my refund and was told that the check was issued in XX/XX/XXXX and was cleared shortly afterward. During that call, I informed XXXX that I have not received the check and have not cashed it or deposited it. As I requested, a copy of the alleged cleared check was shared with me. The check copy does not have my signed endorsement but was stamped from XXXX XXXX XXXX indicating it was cleared. Based on their advice, I inquired about the check with my bank ( XXXX XXXX XXXX ) and verified that the check in question was never cashed, deposited, or linked to my account on record. Furthermore, given that the check does not have my endorsement XXXX XXXX XXXX confirmed that it could not have been cashed or deposited in any of their branches or online features. I called PennyMac again that same day and conveyed that information and then asked my case to be investigated by their fraud department. I was promised that they will look into my case and one of their fraud investigators will get in contact with me as they process the case. On XX/XX/XXXX I called XXXX again to follow up on my inquiry and complaint. I was then informed that XXXX is no longer investigating the issue and was told to resolve the issue with my bank as they can not provide any further assistance. XXXX was not able to provide any information that could me investigate the matter further such as where was the check cashed, or who cashed the check. That being said, I have reason to believe XXXX has embezzled my refund.
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| 05/20/2019 |
Yes |
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- Trouble during payment process
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Web |
Servicemember |
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On XX/XX/2019 I purchased a cashier 's check in the amount of {$1100.00} for my regular mortgage payment. After leaving my bank, I noticed that I had had it made payable to XXXX XXXX XXXX XXXX XXXX, rather than Penny Mac Home Loans. I marked through the " XXXX '' and wrote " Penny '' above it. The check was mailed. On or about XX/XX/2019 I received a letter from PennyMac Loan Services, LLC stating that the check had been returned to my financial institution as " unpaid '' and that I needed to submit a payment. After receiving this letter, I tried contacting PennyMac on a weekly basis to see what had happened with my check. On XX/XX/2019, I went into my bank and spoke with an officer with the bank. She explained that the check had NOT been returned to the bank as " unpaid '', instead PennyMac deposited the check into their account with XXXX XXXX XXXX She assisted me in contacting PennyMac, and on XX/XX/2019 provided a copy of the front and back of the paid check. She also contacted, with my permission, PennyMac to try and resolve this issue. Over the past two months, at least four attempts have been made by myself and my bank officer to try and get this resolved. Representatives at PennyMac will tell me that the situation has been " escalated '', but that I am due for what amounts to the XXXX payment. Last Thursday, XX/XX/XXXX, I received a phone call from a XXXX at PennyMac who stated that the payment had not been made, all investigations were complete, and that if I did not make another payment I would be turned over to a collection agency, late charges assessed, and reported on my credit. I have made more than adequate efforts to resolve this issue. PennyMac deposited the check into their account, and without it being returned by the paying bank, it was a properly payable check, and yet they refuse to resolve this issue that they ultimately created in XX/XX/2019 ; it is now XXXX.
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| 03/17/2021 |
Yes |
- Mortgage
- Conventional home mortgage
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
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This is the third compliant I filed against PennyMac Loan Services , LLC . In the previous two complaints, I reported the unfair and possibly racially driven discriminatory treatment I received from PennyMac employees for an unusually extended period of time ( more than 120 days ) while I applied for refinancing mortgage loan. The company 's responses to my previous two complaints were lack of responsibility and accountability and did not even acknowledge the problems I complained about. Only after I elevated it to the company 's CEO, did the PennyMac employees start to take some actions.
The company 's Senior VP of Customer Experiences contacted me admitting all the problems I complained about ( except for racial decimation ). He agreed to send me a formal apology and provide compensation for the financial loss I incurred due to the extended delay and unfair treatment in processing my loan application. I also received a letter from PennyMac 's complaint specialist confirming Senior VP 's promises.
But three months passed since my conversation with Senior VP and receipt of the company 's letter, I still have not received the compensation check that the company promised to send in 10 business days ( from XX/XX/2021 ). I contacted the complaint specialist numerous times, she never responded. Two weeks ago, I got hold of the XXXX, he continued to promise the check be sent immediately. Two weeks passed and I still don't receive the check. The XXXX stopped taking my calls and simply disappear.
Instead of getting the problem solved for customers, the company 's employees, including the executive of " customer experience '', have kept misleading me, breaking its promises and violating my consumer rights. Such unethical conducts are completely unacceptable!
I attached the letter from the company as a proof of their acknowledgement of their wrong doing and their promises to me.
|
| 06/17/2018 |
Yes |
|
- Applying for a mortgage or refinancing an existing mortgage
|
|
Web |
Older American, Servicemember |
|
PENNYMAC AT THE REQUEST OF THE INVESTOR WHICH IS XXXX XXXX XXXX HANDLED THE APPLICATION PRIOR TO THE PRIMARY BORROWER WHICH PASSED XX/XX/XXXX. PRIMARY BORROWER WAS INSURED BY OPM/OFFICE OF WORKERS COMP SINCE XX/XX/XXXX. BOTH BORROWERS WAS TOTALLY TAKEN ADVANTAGE OF SINCE THE BEGINING WHEN AT NAUGLE REQUEST MONEY BE LOANED TO HELP RAISE THERE XXXX CHILDREN FROM INJURY. AT THE REQUEST THAT THEY WOULD RESPECT THERE WISHES TO BE ASSISTED BY SON THAT HAS THE ABILITY TO COMPLY AND COMPLETE AND MOST IMPORTANTLY TO BE ABLE TO ADDRESS ISSUES WHEN CLEARLY FEDERAL GUIDELINES ARE UNLAWFULLY BEING REFUSED TO COMPLY FOR NO OTHER REASON BUT TO DISCRIMINATE AGAINST MENTALLY ILL APPLICANT FOR THE INVESTORS FINICAL GAIN. THIS IS NOTHING ELSE BUT TO CAUSE SENIORS TO FULLY BE TAKEN ADVANTAGE OF AND CAUSE TO OWNERS TO LOOSE THEIR ONLY PLACE OF RESIDENCE. PENNYMAC NEVER ACCETED COMPLETED APP. ALWAYS ANSWERED AS NONCOMPLETE WITH EVER SOURCE OF INCOME BEING GIVEN & AWARDS OF SSDI, SSI. XXXX XXXX PRIMARY BORROWER PASSED WITH A WRONGFUL DEATH THE APP WAS DENIED AND RECOMMENDED FORCLOSUREWITH NO ASST PROVIDED OR RESPECTFULLY ALLOWING SON WITH THE ABILITY TO ENFORCE COMPLIANCE FOR ADDITIONAL OPTIONS TO SAVE HOME. TREATENED MENTALLY ILL APPLICANT WHEN SHE SHOULD HAVE BEEN RESPECTFULLY BEEN GIVEN THE TIME TO GRIEVE PENNYMAC DID NOTHING ELSE BUT TO SEEN WORKER FROM PENNYMAC TO FORCE THERE SELF IN SENIORS HOME FOR PICTURES AND TOLD CO BORROWER THE RESIDENCE WOULD BEEN FORCLOSURE WITHIN DAYS TO TAKE STEPS TO ASSURE VACANTING THE HOUSE WOULD OFFER ALITTLE TO NONE AND HER BELONGINGS WOULD BE TROWN OUT OF RESIDENCE INTO FRONT YARD 30 YEARS OF BELONGINGS. PENNYMAC AS WELL AS XXXX XXXX XXXX DOES NOT RESPECT OUR FEDERAL LAWS ASSURING TO ALL AMERICANS BEING A HOMEOWNERS IS POSSIBLE. THERE MAIN FOCUS AND ONLY CONCERN IS HIGH GAINS AND THE PROPERTY IS LOST FOR THEM TO TAKE OUR HOMES.
THANKS PENNYMAC & XXXX XXXX XXXX
|
| 10/25/2020 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Applying for a mortgage or refinancing an existing mortgage
|
|
Web |
|
|
I've tried multiple times to resolve my complaint with PennyMac Loan Services but they continually fail to do so. Their " Priority '' Complaint Specialist, XXXX, will say anything to get a problem to go away and refuses to acknowledge all of PennyMac 's negligence. When applying for a highly time critical purchase loan for an investment property, the company failed several times to properly and timely communicate, additionally to accurately address my file. The company filed to accurately review my file, did not respond five ( 5 ) times during an open application during this critical time period - it was not until the sixth ( 6th ) attempt that someone did return my call. Most recently another team member, XXXX ( XXXX ) XXXX, was to also to contact me to further discuss this matter. Naturally he never called. Very typical for PennyMac. I don't see how this this company has a license to lend or really do anything. There are laps and failures at all levels.
Never properly reviewed my financials, never contacted me with any questions, and later I found out that they double counted a mortgage payment and my auto payment. - Note that XXXX called this ( multiple times ) a " Complex '' review.
Six ( 6 ) attempts to reach someone during my application. The first five ( 5 ) were never returned. XXXX refuses to acknowledge this ; probably to the gross negligence that it was on their part.
No other company who reviewed my financials had any problem and even said I could qualify for much more.
Only declined after I have filed complaints. Retaliation by PennyMac.
Unfortunately they caused me critical time that significantly impacted me financially in addition to a great deal of stress.
Most recently another team member was supposed to contact me. NEVER called. Not that I expect anything different from him, just continues to show the character and lack of leadership at PennyMac.
|
| 08/01/2023 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Struggling to pay mortgage
|
|
Web |
|
|
After XXXX years of homeownership with this company, you can have your home appraised again and apply to have PMI removed. I went through this process and they sent out a guy and he appraised my home 5 % over the two year period ( {$310000.00} to {$330000.00} ). Yet, if I go on their website and evaluate my home using their tool it comes in at {$430000.00}. While, I think that is a bit high, it's certainly not uncommon either in this market that exists.
Upon rejection of my first request they told me to find evaluations and submit them. Iwent to the XXXX XXXX Auditor site and did my best to try and find comparables. They of course came back and rejected all my evaluations and they would not remove PMI.
Last, I asked if I could hire my own independent licensed appraiser and pay for an independent appraisal of my house and they said No once again. I strongly believe the person they sent to my house was obviously working in their favor, I get it. Here is one of many example that occur in this marketplace. A home XXXX doors down from me recently sold. It had no updates, except a fence in the back yard, which by the way I added as well and twice the size in that 5 % evaluation above. The house sold XX/XX/XXXX for {$230000.00} which was {$17000.00} above asking price. On XX/XX/XXXX the same house with no additional updates sold for {$290000.00}. A 24 % increase in XXXX years on a XXXX XXXX XXXX XXXX My house is a XXXX XXXX Bath updated house with a full finished basement in a culdesac and bigger lot. Yet, somehow my house is the only one in America that has not appreciated with the rest of them. I would guarantee a listing of my house at {$390000.00} would have multiple offers and no problem with a real appraiser evaluating it. In addition, I would bet if I wanted to refinance my house with a cash out offer, PennyMac would use that {$430000.00} evaluation on their site.
|
| 10/11/2022 |
Yes |
- Debt collection
- I do not know
|
- Took or threatened to take negative or legal action
- Seized or attempted to seize your property
|
|
Web |
|
|
On XX/XX/2022 Servicer XXXX XXXX XXXX sent me another fake PayOff Statement on XXXX XXXX, unsigned and without any references to my alleged creditor On XX/XX/2022 Servicer XXXX XXXX XXXX and their robo-signer XXXX XXXX XXXX XXXX a scanned copy of my Note, which was obtained from some third party sources via XXXX, most likely from XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX
The Note does not have any endorsements at all, so its unclear to me which relationship has XXXX to my Note ; how XXXX obtained my Note ( if they did ) and from whom XXXX obtained my Note, with the date when my Note was obtained and from whom it was obtained, with the name of an individual who transferred my Note.
According to XXXX website, the current investor is XXXX XXXX who XXXX confirmed that they have no records about my transaction with XXXX or XXXX XXXX servicing activities.
This letter was accompanied by unnamed XXXX while its unclear which relationship have these financials to XXXX. Yet, these Financials claimed some Title fees {$300.00} on XX/XX/2022, while I am not aware about any of these charges and who posted them, I demand a legitimate PayOff statement, with full name and mailing address of my alleged Creditor and wet-ink signed by an authorized XXXX of my alleged Creditor.
I demand explanations which relationship has XXXX to my Note ; how XXXX obtained an access to my Note ; when XXXX obtained access to my Note and from whom. State names of all individuals who were involved.
I demand a copy of Title documents for which XXXX claimed {$300.00} in charges on XX/XX/2022.
As of Note inspection I dont want to speak with XXXX XXXX unless he is responsible for debits and credits on a loan account that exists on the books and records of the alleged Creditor. Is XXXX XXXX responsible for debits and credits on a loan account which exists on the books and records of my alleged creditor?
|
| 09/02/2023 |
Yes |
|
- Trouble during payment process
- Escrow, taxes, or insurance
|
|
Web |
Servicemember |
|
I am 100 % XXXX XXXX XXXX XXXXXXXX veteran who is not required to pay real estate taxes. I have Requested from PENNY MAC several times for escrow account deletion for several reasons. The first being I do not pay real estate taxes. Second, when I was Previously required to pay real estate taxes PENNY MAC was consistently late paying my taxes every time they were due over a two year span ( 4 payments ) from XXXX I would receive a tax delinquency letter from the county, and would have to immediately call Penny Mac to pay the taxes. Despite calling them every time to pay my taxes, they continue not to pay it on the next next due date. The third reason I have requested escrow account deletion is because I have a VA back loan and I am not required to have an escrow account thus allowing me to pay my homeowners insurance directly myself. PennyMac has denied me the ability to pay my owners insurance myself, despite having at least 20 % of my home loan in equity. Lastly, PENNY MAC denied my escrow deletion stating I have Been delinquent on my home loan. I have Not been delinquent. I was Approved for forbearance and upon forbearance ending I paid The lump sum of payments not due during forbearance. Additionally, no where in my PENNY MAC paperwork does it say my loan being in forbearance is considered delinquent. In fact, I was not delinquent prior to forbearance thus my loan status should not have been reported to the credit bureaus as delinquent due to the cares act. I should also be refunded money in my escrow account which PENNY MAC refuses to do. Ever since I have Reported to PENNY MAC Im a a 100 % XXXX veteran they have not been willing to work with me and have only given me the ability to speak on the phone with their call center located outside the US. I did receive a call from PENNY MAC and the person left a false extension number thus not allowing me to call.
|
| 10/27/2021 |
Yes |
|
- Trouble during payment process
|
|
Web |
|
|
This is for XXXX XXXX XXXX XXXX XXXX FL XXXX It seems like PennyMac has still been playing a lot of games with us. By raising our mortgage payments tremendously. I had filed a report about this before. They still trying to say I'll tax bill went up by thousands of dollars per year. However when speaking to the tax department tax bill has only went up by {$300.00} more a year.. We are having trouble trying to pay this increase which is causing a problem. They had increased it by so many hundreds of dollars per month. We had apply for the streamline refinance which we was told to apply for. We've applied for that almost 2 months ago. We was promised during that conversation, that the streamline would be fast. That it would take about 30 days. However it's taken basically 2 months now at this point.. they seem to have misrepresent the streamline refinance itself. We was also told that we would not have to make a payment in XXXX knowing that we just applied for the streamline back two months ago. Now we're being told no we would have to pay XXXX 's payment, and yet we're being told about it at the last minute. It seems that PennyMac has not been communicating with us the right way. Nevertheless misrepresenting their products that they offer. This complete increase is causing a lot of problems. We supposed to have a FHA loan with a fixed rate for 30 years. However it seems like that's not what we have, and this increase is going to cause nothing but hardship for us moving forward... I don't understand how a streamline could go on to almost 3 months that's what it looks like, based on what we're hearing now to do. When we was told it should only take about 30 days. The reason why I'm having the problem with the payments now, is because of the fact they increase my monthly mortgage payments with higher amounts. Due to the fact they wanted more money in escrow.
|
| 11/29/2016 |
Yes |
|
- Loan servicing, payments, escrow account
|
|
Web |
|
|
My parents and I recently refinanced the mortgage on our house via XXXX XXXX. They sold the FHA loan to Penny Mac. My first payment is due on XX/XX/2016. I logged into Penny Mac on XX/XX/2016, set up an online account with Penny Mac and set a payment date for XX/XX/2016 in the amount of XXXX. XXXX was for additional principal. I logged in on XX/XX/XXXX to see if the payment went through and it still said pending XXXX. I check my bank account on Monday and only the monthly loan cleared and no the extra XXXX. I logged back into Penny Mac and there is no record of my additional payment. I checked my emails and all they say is payment was received and to check their message center. I checked their message center and it only reflected the loan amount and not the extra towards principal. My dad was right beside me when I made the payment in the amount of XXXX. How did it magically drop to the required loan amount only? When i called about this, I was hung up on the first time. It took over 30 minutes to get through the next time and then their rep said it would be a fee. He did n't see the XXXX I put towards principal. I was furious. This is my very first payment with this mortgage company. After requesting a supervisor, he said he could take the extra principal payment over the phone. Since Penny Mac does not email you what you paid including any extra principal, escrow, etc in the email confirmation, nor does their website retain the payment information that you submitted, I asked if I would need to screen shot every payment from here on out. I just read through XXXX negative complaints about Penny Mac and how they mess around with people 's payments. How can a company like this stay in business when its practices are so shady? I should n't have to take all of these extras measures just to pay my loan on time with a little extra going towards principal.
|
| 06/22/2018 |
Yes |
- Debt collection
- I do not know
|
- Took or threatened to take negative or legal action
- Seized or attempted to seize your property
|
|
Web |
Servicemember |
|
My property was Foreclosed on on XX/XX/2016 by, XXXX , XXXX . not in its individual capacity but solely as Owner Trustee for XXXX XXXX XXXX XXXX-1. I believe this was a fraudulent action, and am trying to get answers to long awaited questions, and concerns I have related to this matter. My complaint is that I can not find any viable Trusts in this name.
I have been filing a specific request to this Association, " Trust, '' and it has continuously been sent to the Servicer, PennyMac. This would have been ok, if they would answer my questions appropriately, yet they have not. They continue to send information I have, know, and am not inquiring about.
PennyMac continues to respond by explaining very well who 'they ' are, the " SERVICER '' and their role of, and being " SERVICER '', but this is not the information I have asked for, nor need any education in the duties of.
I evidently need to be even more direct.
Please do not send this complaint to the SERVICER, Penny Mac. Please send it to the Trusties for, XXXX , XXXX XXXX not in it's individual capacity but solely as Owner Trustee for XXXX XXXX XXXX XXXX.
1 ) I want to know who XXXX XXXX Financing XXXX is?
2 ) What does these initials stand for XXXX XXXX?
3 ) What is their address?
4 ) Is XXXX XXXX XXXX XXXX actually really Pennymac?
5 ) Who and what are the names of the Trusties for XXXX XXXX XXXX?
6 ) What is the filing number for your Association, " Trust '' XXXX XXXX Financing XXXX to do business in the state of Massachusetts which is required by Massachusetts Law under Article 2 of Chapter23.95 RCW?
7 ) What does the date XXXX mean?
I now expect with this more detailed complaint that I know will be able to receive actual correct responses to my questions rather than the continuing insult to my intelligence.
Thank you, XXXX XXXX XXXX XXXX XXXX XXXX XXXX, MA XXXX XXXX XXXX
|
| 06/08/2018 |
Yes |
|
- Struggling to pay mortgage
|
|
Web |
|
|
In XX/XX/XXXX, my husband and I were granted a trial payment plan through Penny Mac USA due to financial difficulties my husband and I had endured. I made my first trial payment, and submitted my agreement via fax. We received a letter in XX/XX/XXXX stating that our trial payment plan had been cancelled due to not providing the documentation in time. I called customer service who reported they never received it, and did nothing about it. I then emailed corporate due to my frustrations. They sent me a complaint team member. This team member requested a copy of the fax confirmation which I sent so it could be reinstated. The staff member inquired about jobs, which my husband and I had both lost our jobs and began a job change. She then asked if we defaulted on the trial payment plan which we assumed was yes. We did not continue with our payments due to their mistake and the confusion, and wanted to protect ourselves. Come to find out yesterday, however, she assumed we meant we would have defaulted anyways which is not what I meant. She would not provide me with documentation of saying this either though I have all email correspondence and there is no record on email. At the beginning of XX/XX/XXXX, I communicated with this staff to begin a new application. I never heard back from her for four weeks, and had to reach out first to have the process continue this week. By this point, I had received a deed of trust. She sends the information to the underwriter who informs me to ask for a postponement as I had not received a full paycheck yet, and would not until the end of XX/XX/XXXXand for the mistake. I requested this and it was denied, with my auction set for Monday. None of this would have occurred had my documentation not been lost. They have switched this to put the fault on me when they lost documentation escalating foreclosure. I am so frustrated.
|
| 10/13/2016 |
Yes |
|
- Application, originator, mortgage broker
|
|
Web |
|
|
Every few weeks I receive a call from my mortgage servicer, PennyMac, offering to refinance/restructure my existing loan. My current loan terms are {$510000.00} in remaining principal on a 30 year fixed mortgage at 3.5 %. I am 3.5 years into my mortgage and it was an FHA loan which means I am subject to PMI until I reach XXXX % LTV, which is supposed to occur in XXXX 2019.
The promise on the sales call is always that I will be able to reduce my payments by starting a new loan. However, it naturally begs the question, " Why would the entity which holds a mortgage commitment *voluntarily* offer to make less on a loan commitment which I am legally obligated to? ". When I find out the specifics of the loan offer and run the numbers myself I always inevitably find out the same thing ; I would be paying MORE money by restructuring the loan. The main reason for this is that new FHA streamline loans, which are what 's being offered on these calls, call for PMI for the life of the loan rather than the old FHA loans which required PMI to XXXX % LTV like I currently have. Adding up the additional payments results in tens of thousands of dollars in additional money paid out over the life of the new loan, even though the term length of the loan is even shorter than the remaining length of my current loan and the offered interest rate is a quarter point less!
My complaint stems around the fact that I am a relatively sophisticated consumer with a financial background. I am worried that the average consumer would never tumble onto the fact that they are being given a high pressure sales pitch that results in them paying vastly more for their mortgage even though their monthly payment is lower. This seems highly unethical to me and I would like for the CFPB to so some research into whether this is legal and, if so, whether it should be in the first place.
|
| 07/14/2015 |
Yes |
|
- Settlement process and costs
|
|
Web |
Servicemember |
|
My husband and I purchased a house in XXXX of 2013. We used a VA loan through XXXX XXXX XXXX XXXX. They told us what realtor to use. That realtor only wanted to show us properties his agency had and when we did choose a perfect property VA denied it because it had no fridge. They approved the house we purchased however even though there was no fridge. During the purchase the realtor would call us to his office to sign papers XXXX inches thick and told us he was on a deadline he had to send them back immediately. We needed to sign now and read it later and would not allow us time to thoroughly read everything before signing. He was pushing everything through as quickly as possible. We paid {$81000.00} for the place and a week after closing the other houses on the street started selling for $ XXXX {$65000.00}. We found out that our place was only worth XXXX. Now we owe XXXX more than the property is worth. There are a number of repairs that were supposedly done. None of them were done properly. Our local XXXX XXXX Fixed a few thing for us. There is so much wrong with the place that it is going to cost about $ XXXX {$200000.00} to properly fix it all. We have applied for and been denied for every government program out there. I feel like my family has been screwed. We have no options with the bank who owned the property before us. We were told we have owned the place too long. We are a low income family and ca n't afford all that this house needs. I feel like it is going to fall down around us. XXXX of the more expensive issues is that the house is sinking. There are springs that run under the houses on this street. The support columns do n't even touch the house because they have sunk into the ground. The floors and walls are cracking, the stairs are pulling away from the wall. It needs jacked up and stabalized. Is there anything we can do?
|
| 04/17/2023 |
Yes |
- Mortgage
- Home equity loan or line of credit (HELOC)
|
- Trouble during payment process
|
|
Web |
Servicemember |
|
On XX/XX/XXXX I started a process to refinance my home with my mortgage lender XXXX XXXX XXXX XXXX. This lender i have since XXXX. I bought a property located in XXXX KY. This property had two adjacent lots in conjunction with the house.
one at each side of the property. I paid a realty attorney to have partial release of those lots with their own deeds and this process was completed in XXXX. On XXXX we decided to refinance the home and get some cash out for home improvements. XXXX XXXX did the process and sent an appraisal person to appraise the property. We had the loan approved, we contacted XXXX XXXX they said everything was approved and the agent told us that the property was appraised as a whole with the lots included, to our surprise because we never talked about including the lots. She stated that in the past we mentioned to them that we were paying taxes at the end of the year and the property was taxes were not included in the escrow account now they fixed it and included lots and house in one account that way taxes were included in the escrow account. We then accepted that decision without much information or clarification from them and without knowing consequences. Three months ago we needed to sell one of the lots due to financial problems to find out that we were not able to sell due to the lots being included in the loan. After we paid to do process four years ago now XXXX XXXX said they can not do anything because we agreed to the loan and the lots were included. They said Penny Mac our servicing loan company is supposed to do it, Penny Mac is being holding this case since XXXX to XX/XX/XXXX and we still haven't heard anything done. We need this issue resolved asap, we don't know what else to do, This is Unethical, Unprofessional and abusive from this mortgage lenders, XXXX XXXX and Penny Mac. Can any one help please?
|
| 08/26/2019 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Struggling to pay mortgage
|
|
Web |
|
|
Pennymac the loan servicer was initially contacted on multiple occasions in regards to hardship on my mortgage as I will be permanently having a loss in come due to my employers commission structure. I spoke to the hardships team which couldn't help me until I fully defaulted on the loan they only option provided was short term forbearance. I was then transferred to the refinance team as an alternative and spoke to XXXX XXXX who provided a deceptive loan estimate with an estimated prop value of XXXX. All he was interested in was a sale and his commission not my hardship. He was asked multiple times how accurate that value was and how that would affect the loan and he assured me it wouldn't have so much an impact if the appraisal came back less.The appraisal came back less and jacked up the loan origination fees and cost of the rate by XXXX ( see pg 2 of support ). XXXX also falsely put a cash out refi on the loan estimate and the purpose of the loan was lower the payment and/or interest rate NOT to take cash out. He offered to give me XXXX cash out without me asking for it. I spoke to his manager XXXX XXXX XXXX on multiple occasions who advised me that the refi was not in my best interest and wanted me to bring XXXX in closing costs to the table which can not afford due to loss of income. I continued to get emails from XXXX XXXX about my refi that was still going through without my consent as nobody would speak to me about the loan as they were proceeding on their own terms. I would just get redirected to XXXX 's voicemail in hopes of a call back. Due to this pennymac has put multiple inquiries on my credit that I would like ALL of them removed, all my calls listened to, and would also like their deceptive sales practices looked into as they do not have the consumers interest at heart especially during times of hardship. LOAN ID XXXX
|
| 06/16/2015 |
Yes |
- Mortgage
- Conventional fixed mortgage
|
- Loan servicing, payments, escrow account
|
|
Web |
|
|
I requested that my PMI be removed from my mortgage company ; PennyMac on XXXX XXXX after I had reach my required 20 % of the original loan. I was told that I needed to either get an appraisal or a BPO. My house was brand new when I purchased it in XXXX XXXX, XXXX, so I figured that a BPO would be the way to go since it was cheaper. I never heard back from the mortgage company so I preceded to call numerous times ; XXXX, XXXX, XXXX. I was told that my appraisal by the BPO was {$220000.00} by XXXX person which is above the selling price and then told again by another individual that it was {$190000.00}. The selling price was {$220000.00} and I put {$38000.00} down making the remaining balance {$180000.00} at closing. I have paid my mortgage on time and above the payment amount each month. I even had to call a couple times when I first started receiving my payment bill because it would come late and I was told that I have a grace period of 15 days, which I am aware of but I like to pay my bills before the actual due date. I was also told that a copy of the BPO was sent out on XXXX/XXXX/XXXX which I never received and I told them that, and they said that they would send it out again. I have n't seen the copy as I today. I requested the BPO to be disputed because their is no way my house has depreciated {$27000.00}, It 's a new house and the market is better now than when I bought the house! My current balance of the loan is {$170000.00}. The last time I called was in XXXX XXXX, XXXX and the individual told me that my house thru XXXX is {$230000.00} and that she was going to talk to her supervisor and get back to me. I still have n't heard anything. I received the BPO fee on my mortgage statement this month and I refuse to pay it until I get a copy of it. I would like restitution since I first requested that the BPO was originally asked.
|
| 05/19/2015 |
Yes |
- Mortgage
- Conventional fixed mortgage
|
- Loan servicing, payments, escrow account
|
|
Web |
Older American |
|
On or about XXXX XXXX, I received notification from PennyMac, my mortgage company that they were going to increase my monthly mortgage payments because my escrow balance for property tax was too low, based on their ESTIMATES. I know approximately what my tax payment will be, and what they are asking I felt was unreasonable. At that point, I contacted PennyMac and said that I would take care of paying my own property taxes and that I wanted the funds held in the escrow account returned to me. I 've have since contacted them XXXX more times, and most recently last Thursday, I spoke with supervisor, XXXX XXXX, stating that they had 48 hours to return this money in the amount of {$1800.00}, at which point I was going to both contact my attorney and the CFPB. She stated that they could not get the money to me in 48 hours, but that she would see that it got into the mail in 48 hours ( with electronic banking and based on the fact that I make electronic payments to them, there really is NO REASON why I should not have this money within 48 hours - they could do it by direct deposit to my account ). I stopped paying money into the escrow account beginning with my XXXX payment. It has been almost a full month, and as of today, I have received nothing from them and am still showing the {$1800.00} still held in the escrow account. XXXX XXXX said that she would contact me by phone when the funds were in the mail. As of today, XXXX XXXX, I still have not heard from her. I 'm upset not just because of this, but also because I 've had to contact them several times since they assumed my home loan from XXXX XXXX XXXX, which I felt was a reputable mortgage company, immediately after I took the mortgage on XXXX XXXX, 2014. I do n't know why they sell of mortgages to these upstart companies, but I 'm very dissatisfied with this fly-by-night organization.
|
| 08/20/2020 |
Yes |
|
|
|
Web |
Servicemember |
|
PennyMac Loan Services reached out to me in early XX/XX/2019 to refinance my house in Florida. I proceeded with the refinance letting them know that my job ( The XXXX XXXX ) would take me to XXXX soon and I would be no longer living in XXXX. PennyMac also told me that my now wife 's name had to be added to the mortgage. It took them four months to close on this refinance due to their constant mistakes such as : Scheduling a notary for signing and then forgetting to get a notary.
Misspelling my wife 's name multiple times, refusing to fix the paperwork and having us sign anyways.
They also had me sign as this being my primary residents after knowing that I would be moving and renting out the property.
The military moved me out to XXXX so that I could be stationed with my wife, I rented out the house in XXXX and planned to buy one in XXXX with my wife as our primary residence. A week before we closed with the loan company XXXX XXXX who have been nothing but helpful, we were told that I couldn't be on the loan since PennyMac listed my XXXX house as my primary residence. I called PennyMac right away and requested an Owner Occupancy Waiver. The company I am taking my XXXX loan out through has seen this before from PennyMac and that it can be fixed with an Owner Occupancy Waiver which PennyMac has given out before to veterans in my same situation. After hours of calling PennyMac every day starting on XXXX PennyMac denied my request with no reason given. Due to COVID19 me and my wife had to schedule our vacation days weeks in advance to be used for our moving day which has come and passed due to PennyMac. PennyMac has potentially left us without the ability to buy a house due to them having me listed as a primary resident and refusing to fix it. I can't even begin to describe how much stress this company has caused me and my wife.
|
| 09/06/2020 |
Yes |
|
- Trouble during payment process
|
|
Web |
Older American, Servicemember |
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We noticed a change in our Credit Score and found a LATE PAYMENT notation. We found it was from PennyMac the company that holds our Mortgage. We logged on to our account and found that the XXXX payment was not applied and had a notation that it was in " Suspense ''. Called to find out that we were short {$14.00} due to a change in the Escrow Account. I asked why they didn't contact us to let us know of this shortage as we could have made the payment to avoid this issue and they couldn't give me an answer, only that they followed the accepted business practices, Of course they kept our money for a whole month before applying the payment. Just think how much interest they must earn when this is a common practice for them. We were in the process of looking into refinancing this loan to a lower rate through the VA IRRL ( this loan is at 4.25 % and we were offered 2.75 % before this happened. We have asked them to withdraw this Late Payment from the Credit Bureau 's and they refused. We had also signed up for Covid Forebearance ( we haven't missed any payments but were paying Late Fees under the 30 day limit ). After his happened they did put the Loan in Forebearance and we do not have to pay the Late Fees ). After researching we found they have a poor rating with the XXXX and I can understand why. We make all our other payments through our bank using e-bills so they are paid automatically every month. PennyMac does not offer e-bills like all the other Financial Institutions so we have it set up to be paid every month. Evidently we did not notice or see the statement where they had many a change in the payment amount. But the point being is they show very poor customer service in regards to a shortage of {$14.00}. The people who look at our Credit Report will think we missed an entire month 's payment when it was only {$14.00}.
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| 06/29/2021 |
Yes |
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- Struggling to pay mortgage
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Web |
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I have made many calls to Pennymac Loan servicing that have gone ignored. I was in a COVID forbearance program and eventually had to file Chapter XXXX bankruptcy. I engaged Pennymac during this process to secure a loan modification to stop the forebearance and resume my monthly payment at the original amount. I was made aware that I would be able to enroll in a modification program as soon as it became available and that it should be available on XX/XX/XXXX. I advised Pennymac that I wanted to be enrolled in this program as soon as it was available as this was the only issue delaying my bankruptcy discharge. I called several times and was told the program was not yet ready. On XX/XX/XXXX after I called again I was made aware that the modification was available and that we did qualify but it would take up to XX/XX/XXXX to recieve the documents to sign off. I advised them that my discharge had been delayed 60 days already and was now set for XXXX and would it be expedited. We eventually were sent the documents on XX/XX/XXXX and they were signed and returned via XXXX on XX/XX/XXXX which Pennymac confirmed. Now a week later we are being told it can take up to 30 more days for them to process the signed modification and bring our account current. We were also told that we are not allowed to reaffirm the mortgage until this processing has happened which will force us to further delay our discharge. This lender has taken more than 5 months to process one modification causing a greater than 60 day delay on discharging my bankruptcy. This has left us unable to move forward and regain control of our finances and everytime we have called even with our attorneys we are given different information. My attorneys have made countless phone calls and been given different information everytime they speak with a representative. I need help!
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| 08/03/2015 |
Yes |
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- Loan modification,collection,foreclosure
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Web |
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Over a year ago, I got hurt at work. I had to have surgery and was out of work for 5-6 weeks. That 's when I fell behind on payments. XXXX XXXX was my mortgage company. It took me 4-5 months for them to finally agree to a payment plan. I was making payments to XXXX XXXX, then they sold my loan to Pennymac, unknowingly to me. I continued to pay XXXX XXXX. After a couple months a rep. for XXXX XXXX informed me of the sale of my loan, and provided me the contact number for Pennymac. I contacted Pennymac, but they had no information on my repayment plan. As of now I am showing delinquent for 6-7 months. Pennymac tried to get me to agree to a repayment plan of {$2000.00} a month. I can not afford that. As of now, I have sent into Pennymac XXXX loan modification packets. The first packet I faxed in 3 times, then I mailed it into Pennymac. They never received it. Which was around XXXX. The second packet I faxed in as well, Pennymac said they received it. It was sent on XX/XX/2015. Every time I called to check the status of it, I was told it is still in for review.
I received another packet, to fill out, from Pennymac on XX/XX/2015. I called Pennymac asking why I received another packet when I had XXXX in for review. I was told that my packet was missing forms, and it had outdated dates. I was never informed about missing documents or outdated signatures.
I have now submitted another packet on XX/XX/2015. I have received another phone call from Pennymac, that I 'm missing documents.
I am currently waiting on Pennymac to send me an email, stating what documents are missing.
I feel that I am being discriminated against for being delinquent. I feel that Pennymac wants me and my family out of our house. Even though I have sent everything they have asked for multiple times.
Any and all help would be greatly appreciated. Thank you
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| 03/19/2019 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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My husband and I purchased a home in Oregon. My husband continued to work in California and I moved into the home. Our home owners insurance is separate from the mortgage. We thought the insurance was on auto pay through our Insurance Broker as has been our custom. Because we were overwhelmed planning our wedding, relocating and working in different states much of the time, we both thought the other person was watching the insurance payments. The insurance payments lapsed for 10 months before we became aware. Though we forwarded our mail we did not receive the three notices from our insurance company despite documentation by the insurance holder that they were sent. The final notice by the lender to get insurance and avoid forced insurance went to my the property where my husband works rather than the address of the home where I reside. My husband and I never saw any other noticed by the lender prior to the final notice. We are the only ones who check our mail. We obtained home insurance right away once we discovered the problem. Now the lender wants to charge us for purchasing home insurance ( that they have not yet purchased ) for the lapsed time at nearly 2 times greater than the initial cost if we can't show coverage during the lapsed time. I understand having to pay a lender back for purchased insurance during the lapse or even for the cost of lapsed time for a more reasonable rate.
1.Can they demand to purchase lapsed insurance that was not purchased during the lapse and after the date we had already purchased a new policy?
2. And if so, can they charge a rate that is more than two times the annual rate of lapsed coverage?
3. I have not been able to find a company who will provide backdated home insurance, so how can they find such a policy?
Your response to these questions is greatly appreciated.
XXXX XXXX
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| 04/18/2017 |
Yes |
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- Loan modification,collection,foreclosure
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Web |
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1 ) I was self-employed and unable to make my mortgage payments after living in my home of 15 years. 2 ) XXXX , XXXX , I became employed XXXX XXXX as a XXXX with the XXXX XXXX XXXX XXXX XXXX and requested assistance from my mortgage lender, XXXX XXXX XXXX to do a loan modification. 3 ) XXXX , XXXX , while in the middle of completing loan modification paperwork, my mortgage loan was transferred from my mortgage service provider, XXXX XXXX XXXX to Penny Mac. This ca used a delay in me being able to complete the loan modification paperwork and my house was put into foreclosure despite me processing the paperwork because despite my new employment, I was n't able to get the past due payments caught up. I was told I had to redo the loan modification paperwork fo r Penny Mac. 4 ) XXXX , XXXX , I completed Penny Mac 's loan modification paperwork and began to make the trial payments. 5 ) XXXX XXXX , XXXX , I had to take XXXX leave of absence from my XXXX job. My employer began arguing that I did not qualify for my short term XXXX benefits even though I had been paying into the benefits from the first day of hire. 6 ) Late XXXX , XXXX , I was approved by Penny Mac f or the loan modification program upon making my XXXX payment. I was told the paperwork could take up to 30 days to arrive to sign and finalize the loan modification. 7 ) XXXX XXXX , XXXX , my income dropped substantially making it impossible for me to make the XXXX payment. 8 ) XXXX XXXX , XXXX , Penny Mac sent me a mortgage statement billing me for the full past due amount, stating my " ... loan is severely delinquent, and as such, foreclosure action has began ... '' I was not even given 30 days before they moved my loan from loan modification directly into foreclosure.
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| 09/17/2023 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
- Escrow, taxes, or insurance
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Web |
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The co-borrower and I have requested in 2 separate official occurrences to have escrow payments removed per being under 80 % LTV on the property. We have been denied twice, elevated to some level of management per the last submittal to remove escrow ( for a 3rd attempt, recently denied ). The first occurrence was denied due to not having an in-house appraisal on file ... This was erroneous as they just ordered an in-house appraisal to remove PMI insurance due to being under their requirement of 80 % LTV. Which was approved in XXXX of XXXX. The in-house appraisal order by PennyMac had a confirmed appraised value $ XXXX, currently mortgage balance of {$150000.00}, subsequently placing current LTV at 66.8 %. Thus, we submitted again ( 2 attempt ) to be denied again and elevated to management per our request as stated in the aforementioned for the 3rd review. We then were denied essentially a 3rd time as it was conveyed because the mortgage is deemed an investor mortgage and as a result, the original purchased price ( $ XXXX ) has to be used. Current LTV would then be placed at 85.9 % based on using the original purchase price. Hence, per their opinion, the mortgage and home value ( original purchase price of $ XXXX ) would not result in the removal of escrow payments, given the LTV guideline to remove escrow payments related to the perpetual requirement of paying one 's required real estate taxes for the borrower has not been met. My concern is their policy is not congruent with previous policy requirements. As they used the new appraised value to remove PMI but not for escrow. Certainly, feels egregious and not client friendly nor consist with one 's own policy, PennyMac 's policy to be clear ; to assess and opine on a tangible market value across their portfolio for various mark to market requirements/governance.
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| 01/28/2020 |
Yes |
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- Trouble during payment process
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Web |
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On XX/XX/XXXX, I submitted a timely mortgage payment to PennyMac in the amount of {$1700.00}. This was my first payment to the company. Prior to XX/XX/XXXX, my mortgage servicer was XXXX XXXX Loans.
When I submitted the payment, through my bank, XXXX XXXX, I accidentally interposed two numbers in my loan number on the memo line of the electronic payment. My address and other pertinent information was correct.
That payment, according to PennyMac was lost or never received from them. Since XX/XX/XXXX, I have called PennyMac series every month to find out the status of my inquiry into my XX/XX/XXXX payment. I have been on the phone with PennyMac and my bank about 6 times. My bank has verified that I made the payment and that the money was withdrawn from my account.
I sent proof to PennyMac, by way of my account statement, showing my daily ledger balance that the money was in fact deducted form my account. Each month there is a new standard. In XX/XX/XXXX, I was told by PennyMac that a trace ID number was needed to locate the payment. My bank, on a three-way call provided the trace ID number.
On XXXX, XXXX, XXXX, PennyMac informed me that they could not find the payment despite all of the conversations, correspondence and personal financial records I have sent them and that I would need to contact my bank for a refund. The same bank that confirmed with XXXX that they sent, and that XXXX received the payment on XX/XX/XXXX.
I asked PennyMac to send me confirmation in writing that they have closed the investigation and that they have not located the funds. PennyMac informed me that because there was no error on their part, they could not submit to me confirmation in writing that the investigation is closed.
I would like a full refund and compensation for the stress and inconvenience this has caused me.
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| 01/21/2016 |
Yes |
- Mortgage
- Conventional fixed mortgage
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- Credit decision / Underwriting
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Web |
Older American |
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My financial hardship began when my husband which I am now separated from abandoned me on XXXX XXXX, 2015. My soon to be ex-husband relinquished all rights to the property which we resided by quit claiming his interest over to me. My husband no longer supports or assist me in any way financially. I obtained the assistance of a housing counselor in order to help me submit a modification request to my Servicer Penny Mac in order to assist me with getting the loan modified to an affordable monthly payment along with getting the account current into my name only. I submitted the modification request with the assistance of my housing counselor XXXX XXXX, 2015. I was approved for trial modification on XXXX XXXX, 2015. I was approved for the Final Modification on XXXX XXXX, 2015 after I successfully completed the trial modification payments. But, the modification papers included me having my separated husband sign the modification documents. The modification request clearly states that I was applying for the modification to have my separated husband removed from the loan along with obtaining an affordable monthly payment which I could afford to pay with my income only. The servicer requested the quit claim deed to show proof that my husband had released his rights to the property. I provided the quit claim deed to the servicer on XXXX XXXX, 2015. Presently, the servicer underwriter removed my Final Modification Approval because my separated husband would n't sign the modification agreement. The Underwriter stated on my denial that I notified the servicer to state that I did n't accept the offer which is a lie. I completed my modification trial plan based upon the fact that the loan would be modified into my name only. He was never suppose to be on the modified loan. The modification was submitted in my name only.
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| 05/22/2019 |
Yes |
- Mortgage
- Other type of mortgage
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- Struggling to pay mortgage
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Web |
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In the beginning of XX/XX/XXXX my Physician informed me that due to XXXX unresolved medical issues it would be best for me to have a XXXX XXXX ASAP. I was scheduled for XX/XX/XXXX.
I had been XXXX ill for almost 2 years and the financial toll was increasing so my Husband and I decided to be proactive with our debts. We placed a call to Penny Mac Loan Services to discuss the possibility of a " short term '' reduction in our Mortgage payment. Our Mortgage was transferred to PennyMac in a repayment plan. At the time of the call our XX/XX/XXXX payment was paid. I called ans spoke to several representatives from Penny Mac about their process in this matter. Their instructions were to fill out a hardship application and NOT PAY XX/XX/XXXX MORTGAGE so that the current repayment plan would deactivate and then they could just redo a similar plan. Because we really did not have a bad experience with our previous lender, XXXX, we trusted the representatives advice.
The reason that we spoke with 6-10 representatives is because the assigned point of contact for us, XXXX XXXX, never answered or returned our daily calls in the Month of XX/XX/XXXX. In XX/XX/XXXXour previous repayment plan that had us patient XXXX a month instead of XXXX to pay a few months that we were behind with another company. Pennymac returned with an offer of XXXX month for 3 months and then XXXX or more for the final month.
I had to send in the same paperwork numerous times. I was on XXXX through my employer from XX/XX/XXXX-XX/XX/XXXX when we were given a XXXX monthly repayment plan. We desperately need help to save our home from foreclosure. We have until XX/XX/XXXX. We are currently appealing the denied Modification the we re submitted after being attempting the XXXX monthly payment.
Sincerely, XXXX XXXX XXXX Pennymac loan number XXXX
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| 08/01/2021 |
Yes |
- Mortgage
- Conventional home mortgage
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Web |
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On XX/XX/2021, I contacted PennyMac to initiate a loan refinance. Rate lock of {$100.00} was given to secure our rate for 60 days and initiate the loan on the same day of XX/XX/2021. Once documents were received from us and a loan was generated by underwriting, I was contacted on Friday XX/XX/2021 to set a close date as well as I received the proposed closing documents. The loan documents received were not the loan amount or amount to close that was discussed. After returning the call the following week, I was sent back to XXXX XXXX and he agreed that it was nothing that we discussed, so he guaranteed he would work on getting it revised to reflect our agreement better and he would be in touch. No further contact was received from the company for a few weeks so I emailed XXXX on XX/XX/2021 and had no reply for 1 week. I then called all of the contact numbers I had for him and when I finally got to talk to him, he stated that he had no answer but the loan was closed and it would require a second credit pull and rate lock to get the loan process restarted. With some conversation, he promised that he would as his supervisor to review the case and get it reopened so we can still close on the loan. 2 subsequent days of calling both XXXX and his supervisor XXXX XXXX, we had no new answers and they wouldn't take the calls. We received one email from XXXX stating there is still no answer and his supervisor will work on it. Since then, there has been no communication from their side and they will not answer or return emails or calls. XXXX XXXX 's number is listed as XXXX. XXXX XXXX 's number is listed as XXXX ext. XXXX. We did not receive any refund after the communication stopped and we have nothing to show for the entire process other than the credit pulls which should be then removed from our reports as well.
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| 10/19/2023 |
Yes |
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- Trouble during payment process
- Escrow, taxes, or insurance
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Web |
Servicemember |
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I signed my mortgage in XX/XX/2022. At the time of closing I noticed that they were trying to charge me an {$300.00} for taxes and insurance. The annual amount for my taxes was {$740.00} and my homeowners was {$730.00} per year. This would equal {$1400.00} or {$120.00} per month.
I immediately inquired at the closing why I was being charged for escrow {$300.00} instead of {$120.00}. They advised me this was an error and would get it fixed but I could continue with the closing.
My loan was then sold to Pennymac immediately without any accurate change to my escrow amount. I contacted Pennymac and they claimed to have corrected it. I then applied for Covid forbearance. My Covid forbearance is up and I will be starting to make my monthly payments.
However, when I called to again advise that this amount for escrow was still incorrect, I was told it had been changed to {$240.00} per month but they would no longer pay my homeowners. So now I am being charged {$240.00} and my monthly property taxes are {$66.00}. The rate for the current tax year went up to {$800.00} per year.
This is completely unacceptable. I am being charged an additional {$180.00} per month for my escrow. This is three times what it should be. I am not made of money and do not have money to pay almost {$200.00} per month to sit in an escrow account and do nothing.
In addition, I have never received anything in writing from this company that they are no longer paying homeowners. I could get no help from people on the phone. They kept saying they couldnt discuss it until my account was caught up. I am currently waiting for a Covid 19 Reluef payment to be made to catch my account up, it was paid to the lender a few days ago and has not posted. This should be irrelevant because this issue involves exorbitant charges for escrow.
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| 04/18/2020 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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I missed an increase in my escrow payment because I changed my mailing address and failed to pay the required monthly payments for a few months. As a result I was behind on my payments, but I was still paying at least 80 % of my obligation every 30 days. My serviced held all my payments until there were full payments and then applied them to my balance. When I learned of the shortage, I immediately paid my late payments in full and brought the account current. Later, I discovered PennyMac reported to the credit agencies that I was more than 60 days past due -this was never the case as I had paid every 30 days. I challenged this negative mark with PennyMac directly, and they actually amended all my reports to remove the delinquency. However, several months later, I requested an appraisal from them to qualify for PMI removal and they declined my request to move forward with this process because they said I was 60 days past due -which they already admitted to the credit agencies was an error, but I guess never updated their own internal records to reflect this. I called to discuss the error and resubmitted my request -Ive done this 3 times now, and I keep getting passed around from agent to agent, with letters sent declining me for the same reasons, with no explanation or proof that they have reviewed or researched my case. Ive paid {$1200.00} in PMI in the last 6 months that Im eligible for removal with a simple appraisal and that they refuse to move forward with due to an error on their part. I believe their customer service has been abysmal and that their operations are grossly mismanaged such that more complex cases, such as my own, are never scrutinized or reviewed or managed appropriately. They are more concerned with protecting their investors than with actually servicing their clients.
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| 08/07/2015 |
Yes |
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- Loan servicing, payments, escrow account
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Web |
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My loan was sold to PennyMac for servicing in XXXX 2015. Following the sale, my homeowners and flood insurance payments were due on XXXX XXXX. The insurance payments were not paid timely. I received a phone call from the insurance company notifying me on the due date that if I did n't make payment by midnight for my homeowners policy, it would expire. I had to pay it on my credit card in order to be assured that I would be covered. A week later I called to see if the homeowners had been paid so that I could be refunded for the payment I had to make to keep my coverage. At that time, Pennymac casually informed me that my flood insurance payment had not been made either because they did n't get an invoice. If I had n't called, I would have not known that I was not covered. I again had to come out of pocket to pay the flood insurance in order to ensure coverage. Pennymac says they have made payment to my insurance company for the homeowners premium ; however, the insurance company has not received the payment and I have not been reimbursed. The flood insurance has yet to be paid and I can not get an answer from anyone at Pennymac on the status. I have had to spend an incredible amount of time trying to get this resolved to no avail. I have been put on hold, transferred, treated with disrespect and can get no answers on this matter from Pennymac. I feel as though they have been withholding my money but not remitting it for the purpose intended. This does not seem legal. They have a fiduciary duty to use the funds withheld for the purposes intended. I have had to overextend my budget in order to insure coverage. I have no confidence that my taxes will be paid timely or assurance that I wo n't be faced with this issue again next year. I would appreciate any help in getting this matter resolved.
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| 01/17/2023 |
Yes |
- Mortgage
- Reverse mortgage
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- Trouble during payment process
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Web |
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On XX/XX/XXXX, I received a letter notification that XXXX XXXX had purchased my mortgage loan from PENNYMAC LOAN SERVICES , LLC . The letter states that XXXX XXXX is not my mortgage servicer, and my mortgage servicer is PENNYMAC LOAN SERVICES , LLC .
Instead of sending me notification with payment instructions and past-due reminder, PENNYMAC LOAN SERVICES , LLC directly XXXX me {$110.00} late fee for my very first mortgage payment and placed a 30 Days Past Due delinquency record to my credit report on XX/XX/XXXX.
On XX/XX/XXXX, after I was notified by my credit monitoring company XXXX, I immediately paid off all the outstanding balances to PENNYMAC as requested. I also called PENNYMAC Customer Service Line ( XXXX ) XXXX to explain the situation. I spoke to XXXX at XXXX PST on Mon. XXXX and explained the delinquency record improperly placed on my credit report. But she refused to revert the late fee charge and remove the delinquency record. I also talked to her supervisor XXXX on the same day and tried to explain that I never received the notice email or letter about a payment past-due. But her supervisor refused to remove the negative record from my credit report either.
On XX/XX/XXXX, I called the PENNYMAC Customer Service Line again and spoke to XXXX. XXXX said that the late fee could only be reverted before I paid the bill. Since I have already paid all the outstanding balances as PENNYMAC instructed, he couldn't revert the late fee charge. He asked me to write a letter to explain the situation via PennyMac 's Message system. I followed his instruction to write a formal letter and created a case to explain that I tried to set up automatic payment and didn't receive proper notification when my payment was past due. But the case was again declined by PENNYMAC customer service.
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| 04/30/2023 |
Yes |
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- Trouble during payment process
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Web |
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PennyMac Loan Services LLC hired XXXX XXXX XXXX XXXX to act as their Attorney to attempt to threaten and XXXX me into compliance. XXXX XXXX XXXX XXXX. issued out a letter dated XX/XX/2023 which states " XXXX XXXX XXXX XXXX. is a debt collector. We are trying to collect a mortgage debt held by PENNYMAC LOAN SERVICES LLC ''. Under the heading How you can dispute the debt? it has two separate responding point " call or write to us by XX/XX/2023 to dispute all or part of the debt. If you do not we will assume that our information is correct. '' " If you write to us by XX/XX/XXXX XXXX, we must stop collection on any amount you dispute until we send you verification of the debt. '' Under the heading " What else can you do? '' " Write to ask for the name and address of the original creditor, if different from the current creditor. If you write by XX/XX/2023, we must stop collection until we send you that information. '' I responded back via certified mail on XX/XX/2023 they received the mail on XX/XX/2023 at XXXX. They never responded even with being given the 10 day response time window I again responded via certified mail dated XX/XX/2023 verifying that I did respond I a timely manner and did not receive any response therefore the matter must be closed due to their default. They received that document via CERTIFIED mail. Again XXXX XXXX XXXX XXXX. never responded. On XX/XX/2023 XXXX XXXX XXXX XXXX. illegally and falsely filed a Civil Action for Foreclosure proceedings. They never sent responded or even acknowledged any of the documentation sent, and they never sent out any proof as they said they would if my response was sent in a timely manner. This illegal action has caused major hardship and has disrupted my family. It has destroyed my credit and made if impossible for me to function.
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| 10/07/2019 |
Yes |
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- Trouble during payment process
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Web |
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I bought my property in XX/XX/XXXX and financed it with XXXX XXXX. I refinanced in XX/XX/XXXX with PennyMac based on their solicitations. PennyMac apparently has made a huge miscalculation on the escrow portion of my loan. They listed their projection on my property tax as {$1700.00} where the taxes for my property have been {$4400.00} in the past 3 years. I realized this mistake when they send me an escrow evaluation in XXXX along with a statement suddenly asking {$800.00} extra payment on my monthly mortgage. My payment increased from XXXX to {$3000.00}. I have emailed them multiple times online on the customer service line also emailed the loan officer who dealt with my loan. They have been slacking and delaying replies. Lastly, I was able to talk to a supervisor last Wednesday on XX/XX/XXXX and he admitted there was a mistake in initial calculation of the loan but could not figure out how to solve it said he needs to contact other departments handling the loan and will get back to me the next day on XX/XX/XXXX never did. Today I left them a message said I will be proceeding with filing the complaint with CFPB asI had told them before in our communication which they do not seem to care much.
My tax records for XXXX online at my county : 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 Meanwhile, I have paid my increased monthly payment as {$3000.00}. I believe they assume that after a while I would let it go as onmy initial call the customer servic representative told me that taxes have been going up high everywhere and that is why people now started to prefer selling home and moving to apartments which did not make any sense as my taxes remained the same for the past 3 years per my county records.
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| 02/02/2021 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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We have our mortgage through Penny Mac USA. Our property taxes have still not been paid from the escrow account that should have been paid in XXXX of XXXX. I received a property tax statement in XXXX of XXXX, and then again received another tax statement in XXXX of XXXX. The receipt of the 2nd statement prompted me to call the mortgage company because it appeared the property taxes had not been paid. I was told then that it appeared they had not paid our property taxes are required in XXXX. I asked why this occurred and was told they did not know and could not figure out why. I was told then ( two weeks ago ) that it would be paid. I logged into our mortgage account on XX/XX/XXXX and it appeared that no funds had been dispersed from the escrow account. I spent over an hour on the phone today ( XXXX ) to find out that the property taxes are still unpaid. Now there is a tax penalty of {$410.00} that must be paid. Penny Mac stated that I should not worry because they will pay any late fees, but I do not trust at this point that they will not take that late fee out of my escrow account. In the meantime they have continued to accrue interest from my escrow funds and make money from my wrongfully withheld tax payment. I was told on the phone today that they could not tell me when the taxes would be paid. They also stated that they needed additional information because the taxes had not been verified! Then how have I received two tax statements? They would not admit it, but I believe they did not properly keep their own records as I was asked to upload my property tax statement to their website. I need help getting this resolved and I hope there is a mechanism in place to fine this company for their improper actions and their breach of fiduciary duty to properly manage our escrow account.
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| 06/18/2015 |
Yes |
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- Loan modification,collection,foreclosure
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Web |
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Violation of the California Homeowner Bills of Rights : PennyMac violated automatic stay rule while modification in process ( Notice of default XXXX/XXXX/15 ) Notice of Sale ( XXXX/XXXX/15 ) for an auction date of XXXX/XXXX/15. During this time period, my loan was under modification review and I was told that the foreclosure was suspended. After being rejected, I submitted the paperwork for a second review within the 30 day time period. I never received status on the results of the review. I was told by one PennyMac individual it usually takes a " long time '' and then by another individual that I need to " re-submit an entire new modification package ''.
Not assigned XXXX person throughout process ( talked with XXXX people and received different status and direction from each ) they said they were part of a team however all were unfamiliar with my loan status or able to give me proper direction.
No access to decision makers ( and their Supervisor ) only through voice mail in which the messages were never returned. Furthermore, I never received status of XXXX-look. representatives from PennyMac were never able to reach the decision makers because they were always in " meetings '', " on the phone '' or " unavailable ''.
Delay of entering documentation into system : The documentation would be sent through a fax cover sheet provided. They would say that it takes 48 to 72 hours to receive into the system. In the meantime, it is eating away at the 90 day time period because of the delay. I was required to proactively call as all documentation would not move to the next person unless you contacted them.
Knowledge of California State law : When I received the Notice of Default, they were unable to discuss the time-line with me because they were " not familiar with California Law ''
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| 01/23/2023 |
Yes |
- Mortgage
- Conventional home mortgage
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- Incorrect information on your report
- Account status incorrect
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Web |
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Good afternoon. I am writing from XXXX XXXX, FL, the area most recently devastated by Hurricane XXXX. Immediately after the hurricane, our lender offered a forbearance program due to the natural disaster. While my home suffered some damage, it was not enough to meet my hurricane deductible through my homeowners insurance so we decided to take advantage of the forbearance and pay for our repairs out of pocket. Leading up to the end of my forbearance period, I contacted my lender, PENNYMAC on several occasions to discuss my repayment options, despite being told someone would reach out to me XXXX days in advance. I finally spoke with my assigned representative, on my own accord, not theirs, and we came up with the terms of my repayment program, an additional {$1000.00} per month for XXXX months. I began this repayment program in XXXX and have fulfilled my payments to date.
I went on to routinely check my credit score, as I typically do, to see my credit had dropped XXXX points. I have always had good, if not excellent credit and never a derogatory remark so this was a shock. I then see it is because PENNYMAC had reported me delinquent. I spoke to several representatives who all told me the same thing, theres nothing they can do. As soon as someone comes off forbearance, they are reported delinquent, despite participating in the repayment guidelines that THEY set forth.
Why would anyone who was properly informed, agree to a XXXX month reprieve of paying their mortgage in exchange for years of credit rebuild? My assigned representative did not in any way notify me that this was the consequence of applying for aid after a natural disaster.
I know XXXX forbearance is not negatively reported due to the CARES Act. Is there nothing that protects consumers from a natural disaster?
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| 05/18/2021 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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I called XXXX XXXX on XXXX and spoke to a loan originator, XXXX. He explained that my LTV was 77.54 % and my valuation was {$390000.00} ; making me eligible for dropping PMI. We discussed the options : PMI drop or refi- both of which would eliminate the PMI. However, it will take 10-12 months to recover the costs of the refi so I decided to simply request elimination of PMI.
I called Pennie Mac on XXXX after sending secure messages on XXXX requesting PMI elimination. Several times I was given holds over 15-20 min and never transferred. Finally, I spoke with XXXX PMI specialist and her manager on XXXX. There are several phone # 's and not even the loan originator was truly sure which to call. The PMI specialist told me Pennie Mac calculates LTV as original value divided by LTV, and they only use an appraised value if I pay for the appraisal and only Pennie Mac can choose the appraiser even though I pay.
I explained that the loan originator was willing to refi me at 77.54 LTV which would eliminate PMI, and the manager asked for his name so she could research options/validity of my information. Once the manager researched my file ( previously discussed with me through the loan officer ) she suddenly had several options to talk about : including a {$150.00} appraisal or Numbers provided for Pennie Mac on refi letters, websites, and given by employees : XXXX, XXXX. During these difficult times with Americans struggling- large mortgage houses should NOT be allowed to make processes difficult. Try using Pennie Mac 's website ... .to eliminate PMI. It is near impossible and buried at least 10 clicks deep. Hardworking Americans should not bear a burdensome task that is not protecting the financial underpinning of our country.
I did NOT choose Pennie Mac and I will not select them again.
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| 06/27/2015 |
Yes |
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- Loan servicing, payments, escrow account
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Web |
Older American, Servicemember |
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We sustained loss due to ice storm. Insurance pd {$14000.00} which check we signed and Priority mailed to PennyMac on XXXX XXXX, 2015 yet I had to beg for release of monies. I have spent over {$9000.00} in repairs and have only received from PennyMac {$4800.00} on XX/XX/2015. - I have repeatedly asked for more and sent receipts to loss draft dept. They then demanded an inspection at my added cost of {$40.00}, which was completed on XX/XX/2015 and declared at least 70 % repaired. Yet my requests on XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, and XX/XX/XXXX plus emails to loss draft have yielded no information on when or how much they will release next. How am I supposed to repair with no money? I paid for insurance and PennyMac is withholding my funds. On XXXX at XXXX pm I received a voice mail from XXXX at PennyMac saying I should receive a check on XXXX XXXX from XXXX. No amount specified. Really! It will probably be only another {$4800.00}. instead of the total. This is totally unacceptable. I have contractors who want XXXX up front and I have no money at all. I want all my funds released so I can finish the repairs. My husband and I are on XXXX and a XXXX. We have not had a kitchen in XXXX weeks and I ca n't pay contractors with no money from bank. There are additional code enforcements required from the Town building dept and I have to pay for those repairs before I can be reinbursed on a supplemental claim from insurance company and I forsee this saga lasting months from now. This is not right. The roof leaks but the roofer wants XXXX of the {$7400.00} to repair up front. This just goes on and on. We applied for a loan to speed up the fix and were denied. I have sent the bank all receipts for our out of pocket over {$9000.00} paid so far, yet they wo n't release our insurance money.
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| 10/13/2022 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
Older American |
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We have a mortgage on our home and on the adjacent 18.6 acres ( separate PIN # s and tax bills ). Taxes in XXXX XXXX are paid twice a year in XXXX and XXXX with 1/2 the total tax amount due at each payment time. Total tax on the home is {$5400.00} and total tax on the land is {$75.00}. On XX/XX/22, I received an escrow analysis stating our monthly escrow payments would be increased from $ XXXX to $ XXXX starting XX/XX/22. After reviewing the escrow information, I found several mistakes including incorrect PIN #, incorrect amounts of tax and a duplicate entry. I called PennyMac on XX/XX/22 and talked to Carlos. We went through the escrow information and he submitted the corrections. The PIN # s are now correct and the duplicate house tax was removed. However, the land tax due in XXXX is now shown as {$2700.00} instead of the {$37.00} actually due. On XX/XX/22, I called PennyMac and talked to XXXX. I explained the problem and she told me I would have to call the county and get the tax bills and send them to PennyMac since the bill documents were not in their system. I told her that I don't get the tax bills, PennyMac does. She kept repeating the same information over and over. XXXX XXXX does not print tax bills for escrow accounts, the bills are sent electronically to the mortgage company.
I tried to get the escrow account corrected last year to no avail. PennyMac didn't pay the tax on the land last XXXX After receiving an overdue bill from the county, I called PennyMac and they paid part of the bill. I had to go to the county and pay the storm water portion of the bill.
This appears to be creative accounting or incompetent accounting on PennyMac 's part. If they can't get a simple escrow account and the tax bills correct, they should not be in the mortgage servicing business.
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| 12/10/2018 |
Yes |
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- Struggling to pay mortgage
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Web |
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I have been emailing them for months about my mortgage payments and even in the process of that withdrawn money from my 401k plan with penalties to get the money. Finally on Tuesday, XX/XX/XXXX Pennymac sends me the amount for reinstatement of my mortgage. Which had two amounts one if I paid by Monday, XX/XX/XXXX and another if I paid by Wednesday, XX/XX/XXXX. Which also stated that amount would be good for two weeks. However when I called them they said that the two weeks didn't apply because on Monday, XX/XX/XXXX was a foreclosure hearing and sale. After fighting with them by phone I figured my best bet is email so I would have documentation of everything. They postponed the hearing and sale they claimed for two weeks but have not sent any legal documents to confirm that.
I continued to push for a dollar amount to bring my mortgage back up to date and after being told that it would take 7 days they sent that to me on Wednesday, XX/XX/XXXX. As I was checking on the fastest way to send the amount {$10000.00} to them I discovered that my bank XXXX sent them the payment.
Now Pennymac claims that they do not have a record of the payment and I had to send them proof of the transaction which I have done three times. They still have not confirmed and posted the payment nor have they sent anything about a hearing tomorrow. My wife and I are taking time off from work to go to the courthouse in the morning with my proof again.
I have researched online and there are several complaints about Pennymac pulling the same thing and much more. Pennymac needs to be stopped playing these games and unethical business practices. So helping me can be helping a lot of other homeowners who are doing the right thing or like with us correcting what happened to have a chance.
Thank you XXXX XXXX
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| 08/26/2022 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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I have a mortgage with Pennie Mac. I am trying to get PMI taken off the mortgage. It's nothing more than a cash grab. I was told my LTV is too high ( even though they go off house sale price and not the higher appraisal ). I have accepted this criminal activity because it's a bank and they are criminals. However, I had a long conversation with a banker at Pennie Mac in the fall and she said if I was adding value to the house, I could apply to have the PMI removed. I have put close to {$100000.00} into the house in a boiler, hot water heater and {$50000.00} kitchen remodel. I have all the receipts. When I wrote in to apply, I was told it would take 2-5 days to reply. That's insane. They should be able to reach out in a day. They are raking in record profits and they slow walk any effort for customers to get their rightful monies. 10 days later I get a form letter that completely ignored the information I put in the form regarding the improvements to the house. So, their process is to stall the customer, play dumb and send me a form letter saying NOPE, your LTV is too high. Again, to be clear, I accepted the LTV fraud, I was ASKING about the added value to the house. I need to speak to a human being that can think and follow my request. What is the next step in the paperwork to apply to get the PMI wiped out? Please understand that each week of delay earns them more money. This is why they do this. I am so sick and tired of these gross corporations who can never make enough money. Their rapacious greed is exhausting. I am trying to wipe out a {$60.00} PMI on a large mortgage. This isn't a big ask and I am prepared to provide all the documentation they need but they refuse to acknowlege the issue. Delay, delay, put people off so they won't bother. That's their MO.
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| 06/25/2020 |
Yes |
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
Servicemember |
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I was looking to refinance my home in XXXX. I got several offers and went with the best one from freedom mortgage. My current lender PennyMac reached out to me they would match or beat it, I liked the PennyMac services so I agreed ( they would match the APR and the closing costs saving me thousands from Pennymacs initial refinance estimate ). I signed closing documents with a notary approximately XXXX. On XXXX the title company called and said that PennyMac changed my HUD-1 form and I owed {$8000.00} XXXX previous HUD Estimate was $ XXXX ) by the following Monday.
I contacted PennyMac and they said they would work to fix the issue, after having several managers, loan processing agent and many representative involved, I went through four additional notary appointments to close, all of which the notaries reported the day before that PennyMac did not send them the documents and they could not have me sign. I am not being informed that they will force close the loan and are offering me a higher interest rate and about {$10000.00} in closing costs. We reached an agreement in XXXX and they have failed to get the documents in order and already agreed to a closing, I was also informed that they may be collecting a daily interest on my closing since the signing in XXXX which the reps and the loan processor are unable to deny/confirm.
Complaint : PennyMac needs to honor the initial agreement they had me sign as I have waited four months. They should also be liable for the four months of interent on the payments I made.
As of today, the representative reported, They can not process my loan because they have not pulled a credit report. This again is there portion and relatively simple, they have also added a closing charge of {$75.00} to pull the report in XXXX.
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| 04/18/2017 |
Yes |
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- Loan modification,collection,foreclosure
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Web |
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My husband and I are going through a financial hardship we were on the Hardest Hit Funds Program with Neighborhood Housing Services of XXXX ( NHS ) . We were approved on XXXX XXXX XXXX and made our fist payment to XXXX that same day. We were instructed by o ur counselor fr om NHS t o begin sending our mortgage contribution payments to XXXX XXXX XXXX , XXXX XXXX XXXX XXXX begging on XXXX XXXX , XXXX . I received a notice letter on XXXX XXXX , XXXX from XXXX XXXX my servicer at the time, that my loan had been transferred t o PennyMac effective XXXX XXXX XXXX . On XXXX / XXXX / XXXX I received a notice of default from PennyMac in the am ount of {$5300.00} I immediately called them to question, the representative at that time said the State was late in sending in my contribution payments but the matter would be resolved at the end of our contract with Hardest Hit Funds. Our two year term has expired on XXXX XXXX , XXXX and PennyMac is st ill requesting payments for XXXX , XXXX and XXXX XXXX . My counselor and I have sent in proof of payments made from my account to XXXX and from the State to PennyMac and it clearly shows that I am not in default of any missing payments. PennyMac has responded to me that they are accurate in stating that I owe those months and if there is any dispute it should be with the State Funding Program. I have showed them clear evidence of payments and the underwriter in care of my account says there is nothing they can do for me at this point and I have make my account current in order to avoid foreclose. This is a matter of power over the defenseless people like ourselves that the banks take advantage of. My husband and I feel hopeless and it is very frustrating.
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| 12/13/2016 |
Yes |
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- Loan modification,collection,foreclosure
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Web |
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I, XXXX XXXX, am not agree with Pennymac denial decision about my loan modification request. I purchased my home in XX/XX/XXXX and have interest rare of 5.75 %. I am XXXX due to my accident that happened 3 years ago and I went through some XXXX. I was receiving XXXX benefit. With XXXX income I was not able to pay my payment and all other expenses, as a result, I discontinued my XXXX benefit and got a job. I am working 8 hours a day and babysitting evening and weekend to be able to pay my dues. I have a XXXX-years old daughter that needs lots care and attention because my husband left us on XX/XX/XXXX, after we spend all of our saving to pay our housing expenses, due to his business failure on XX/XX/XXXX and gone through XXXX due to economy weakness. I am not able to pay the high interest rate mortgage because with the amount of time I spend to just keep up with my mortgage I am losing my attention to take care of my kid as well as my physical health. Pennymac offered me to sell my home because there is some equity on it. This is not good option for me because renting a home in my area is much higher than my mortgage. I bought my home to keep it and have a stable home for my kid. I am trying to keep a roof over my daughter 's head. I need help to be able to modify my loan. If Pennymac modify my loan I can be worries free and work less to be able to spend sometimes to take care of my daughter health and education. I need Pennymac help to work with me and reduce my rate. I got help form family and friend for past but they stopped their support. I am a single mother with no any other source of back up or saving and would like to keep my home which is my daughter and I future investment. I am asking Pennymac to help me out on my loan modification request.
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| 06/17/2021 |
Yes |
- Mortgage
- Conventional home mortgage
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- Applying for a mortgage or refinancing an existing mortgage
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|
Web |
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Below is my previous complaint that was closed. Due to a life saving XXXX i was unable to follow up in the time allotted. Pennymac lied and never disclosed the information they claimed in their response. If they did it would be on the recorded call that someone was supposed to follow up with me and never did. They chose to give me a higher rate without exploring my options for a better rate and its unacceptable. My credit clearly would have allotted me a better rate but they chose to discriminate against me instead.
Previous complaint : This company has discriminated against me and overcharged me in a pandemic. In the scurry to get my finances in order, due to this pandemic, I took the advice of attempting to refinance to get a lower interest rate. The company lowered my interest rate but charged me excessive fees that made it not even worth it to refinance. I attempted to speak with my loan officer who told me I would be saving a lot of money and explained it away. I was also told to hurry along as I wouldn't be able to take advantage of a lowered interest rate for long. My nerves and the desire to keep my family intact with a roof over our heads and somewhere to retreat from this virus believed him. I now know and understand that this treatment was discriminatory and downright despicable. They paid off their own loan for refinance at XXXX and started my new loan at XXXX. It wasn't until i completed a refinance with a different company that I realize this picture was all wrong. I attempted to speak with the loan officer XXXX XXXX who refused to return my calls starting XX/XX/2020. After I was pushed through I attempted to contact the company and speak with someone. All attempts to contact them I've been hung up on or transferred and disconnected.
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| 10/31/2022 |
Yes |
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- Trouble during payment process
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Web |
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This complaint is a regards to pennymac. I just want to make sure everything is being complied the right way. On Friday XX/XX/XXXX phone call was made to penny Mac. Advising them that I was approved for the homeowner assistance fund HAF. I only contacted them, knowing a lot of complaints I heard with people who does have the penny Mac mortgage and who was approved for the fun what trouble they was experiencing. So I just wanted all the information to be noted in the account. So once I got myself verified I had my husband speak on my behalf. The representative gave my husband a hard time period stating that they don't believe that I got approve for this fund. Discouraging my husband and me, that they said the state don't depend on the state by sending any funds over. Is that they not reliable. That we still must continue making our payments regardless. The rep No compassional empathy on the situation. Acting like I wasn't gon na get this fund. That is a long process and I might not get approved for this fund. It was explained to her from the start, that we already got the award letter and got approved. That they was paying past and future payments. I just wanted her to put in a notes, when they get the XXXX the money from the fund That it gets applied to the payments and not the Principal. The rep said that can not be done. It was told that if it goes to the principal we have to see if it gets approved to move its to payments. That I found was ridiculous. If this post was pay all the payments back and post the pay my future payments for the next 6 months why can't it be apply to my payments. I only filed this complaint due to what the representative has stated. It made it seem like they are not gon na comply and put the money towards the payments.
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| 04/14/2015 |
Yes |
- Mortgage
- Conventional fixed mortgage
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- Loan servicing, payments, escrow account
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Web |
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We are submitting a complaint against PENNYMAC XXXX mortgage company. They faithfully took our mortgage payment for over 1 year, always paid ON TIME. At the beginning of 2015 we received a bill totaling approximately {$15000.00} due to insufficient escrow and a statement that had our taxes at over {$24000.00}. INCORRECT!! We called to inform them that the taxes they have are wrong and even provided tax statements from our local township that had our taxes listed at between $ 6,000- $ 7,000/year. They stated that they had paid the township much more than the township states they actually received from them. They state that they were able to obtain a refund of THEIR money that was overpaid but it still left an error on our account for which they are trying to bill us approximately {$2000.00} in order to bring our account up to date which they will then refund to us. ALL calls to Pennymac have resulted in nothing but delay, poor customer service, inability to rectify this problem in a timely manner and now they have put us in collections and have affected our credit for THEIR error. We have continued make our monthly mortgage payments and have faithfully been calling asking for them to resolve their error only to receive harassing " automated '' notices and NO actual assistance or resolution. We are seeking legal counsel for the issues with this company and have noted MANY similar consumer complaints online with many of the same complaints. This company appears to be conducting itself in numerous unethical ways and has the poorest customer service we have EVER experienced ANYWHERE. We desperately need investigation, assistance and intervention to rectify this issue and have the company resolve their errors and restore our credit. Please help!
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| 04/08/2021 |
Yes |
- Mortgage
- Other type of mortgage
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
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I originally contacted my mortgage company PennyMac XX/XX/2021 regarding a refinancing of my current mortgage. I have had my home for 10 years and wanted to refinance the remaining 20 years of my mortgage.
I was told based on my credit score I was eligible for a 2.25 % re-fi FHA and closing costs would be approximately {$500.00}.
Each time they requested documents I had to supply them within 24-48 hours and I complied even though the requests were made late on Thursday nights.
Aside from the requests for information there was little communication with them. When the process was approaching 60 days I requested an update several times wanting to know why it was taking so long and no response was received. On XX/XX/2021 I received information that they had identified {$900.00} in my checking account for closing costs and another {$250.00} was needed. When I questioned what the closing costs were really based on because it did not seem right to be based on my available funds no response or explanation was given. Nor did anyone respond with an explanation as to why the process was taking so long. XX/XX/2021 I received an email that indicated there was information needed on my account. When I logged in there was a document request dated for XX/XX/2021 stating {$900.00} had been identified as available for closing and an additional {$600.00} was now needed. How does this happen? Why did the closing costs go up? Why the different dates going backwards on the request? Still no explanation as to why the closing costs were much higher than stated or why the process was nearing 90 days. I had been with this company for many years and never late on a payment. There was no pending inspection or appraisal but no one would answer my questions.
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| 07/22/2015 |
Yes |
- Mortgage
- Conventional fixed mortgage
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- Loan servicing, payments, escrow account
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Web |
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Mortgage with PennyMac. In error, I did not notice that they had been escrowing $ for my insurance of which I had on the property until the took an additional {$500.00} with my XXXX payment. My error. I have called them along with my insurance company repeatedly regarding and my insurance has sent over the proof declaration page multiple times. Every time I have called they say they did n't receive it, even once when I was assured the rep was on the phone with my insurance and would not hang up until she saw the fax. Well that was not true as we had to send again the week later. Also they say they take notes, but then they have nothing regarding. After numerous calls and runarounds, I was assured XXXX/XXXX/15 that I would be receiving a check for {$1900.00} from XXXX # XXXX and to call back today to see when it would be processed. Now after multiple runarounds, I am told that they do not have it, they have a 90 day binder and that is not enough to release the funds which 100 % contradicts what they told me last week. So again, I have to contact my insurance company to send them over a new declaration. They have had the documents no less than 3 times of what they needed. They are STEALING my money I am owed and was promised I would get on my phone call last week. I assume they are filing it to the wrong loan or something, because they can not get it right! I have spoken from the names I wrote down to XXXX # XXXX, promised call back, did n't, XXXX # XXXX promised would stay on hold with insurance company until she had correct form, have spoken to XXXX XXXX, today was XXXX who swears they only have 1 document which is wrong. This does not include the numerous calls my insurance company has made with them as well to straighten this out.
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| 07/02/2015 |
Yes |
- Mortgage
- Conventional fixed mortgage
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- Loan modification,collection,foreclosure
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|
Web |
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My lender PennyMac is not allowing us a short sell after we have submitted a completed package.
At one point, we did have a loan modification but our financial situation changed and we could no longer keep that obligation. Needless to say, we have been behind on our mortgage payments and were recently informed of a foreclosure on our property. On the same day we were informed of the foreclosure, we contacted PennyMac to see if we could, again, qualify for a modification. However, we were infirmed we did n't, even though my husband recently graduated college, & is working full time as I am. After being declined for a modification, we suggested a short sale in lieu of a foreclosure, and were told that that would probably not happen because we had about 30 days before the scheduled foreclosure. We asked to give it a try as we believe a short sale is more advantageous to both parties. After speaking to several representatives at different times and days, we were finally told we could try, and to fax an authorization have our realtor have direct contact with them. Our realtor contacted them, completed ( with us ) the short sell package and forwarded it to PennyMac ASAP.
We have been informed, as of today, that they could n't grant the short sell, although an offer was attached.
We believe that a true and honest effort has not been done by our lender, but rather disregarded the fact that we are asking for an optional solution that can work for both parties. It seems to us as though this has fallen in deaf ears and we need your help to advocate or guide us with this situation.
We understand if they say we ca n't afford this loan anymore, but we are not asking asking for something impossible, but rather an attainable and fair solution.
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| 01/11/2016 |
Yes |
- Mortgage
- Conventional fixed mortgage
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- Loan servicing, payments, escrow account
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Web |
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I am writing to you because I have no other alternative. I can not stand for my rights to continue being violated by Pennymac Loan Services LLC.
The root of the situation is that Pennymac Loan Services is reporting my mortgage opened on XXXX XXXX, 2012 as Status - Account included in Bankruptcy. THIS ACCOUNT WAS NEVER INCLUDED IN BANKRUPTCY.
The Chapter XXXX bankruptcy that I filed was a business bankruptcy and the discharge did not include any of my personal accounts.
The credit bureaus keep telling me that they ca n't change the " Status - Included in Bankruptcy '' tag, because they say that it was reported to them by Pennymac.
I have provided documentation to Pennymac for over a year, just to fall on deaf ears and not have any of my calls returned.
Pennymac has treated me like a second class citizen and has completely disrespected me at every turn. Because of this experience, I feel like I have been maliciously violated and deeply wounded by Pennymac.
Having this mortgage incorrectly say that it was included in bankruptcy is stopping me from getting a small business loan needed for my business to operate. This is like pouring salt into the wound.
I am begging you to demand that Pennymac Loan Services send me a letter of apology for these violations of my Civil Rights.
Additionally, please have them immediately remove any reference to Status - Included in bankruptcy from my consumer credit files with XXXX, XXXX, XXXX and XXXX credit bureaus.
Thank you VERY much for existing to help the " little guy '' in this world. I very much wish that there were more of you.
Please notify me immediately of the positive results of your investigation.
It is my wish that you have a very safe and happy new year!
Sincerely,
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| 10/19/2023 |
Yes |
- Debt collection
- Rental debt
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- Took or threatened to take negative or legal action
- Seized or attempted to seize your property
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Web |
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I have been in an active dispute of contract with PennyMac Loan Services LLC and XXXX XXXX XXXX XXXX They attempted to foreclose on my property in XXXX of XXXX this action was withdrawn. I recently received harassing and threatening correspondence from both parties attempting to exhort large sums of money and threats to again try to take my home. In a recent correspondence dated XXXX XXXX PennyMac Loan Services LLC admitted they have been refusing to provide me with a contract proving that they gave fund to me for a loan. They also stated they are the Landlord for the Loan Originator. And that the Loan Originator are not the ones requesting repayment but PennyMac Loan Services LLC is requesting payment without having a contract. Ive repeatedly asked why they keep harassing me. They said im behind in payments but not in default with my contract with the Loan Originator. Which means no funds are tone paid to anyone except the Loan Originator who in not the one taking me to court or asking for funds. Under 15 U.S.C. section 1639b Penny Mac Loan Services LLC quoted that my agreement was to the Loan Originator not them and that I agreed to repay the Loan Originator a monthly payment of {$1.00}, XXXX for 30 years. Yet PennyMac Loan Services LLC and XXXX XXXX XXXX XXXX. are trying to fraudulently exhort {$1900.00} a month.And are making a claim of contract between PennyMac Loan Services LLC and XXXX XXXX ( XXXX XXXX XXXX XXXX XXXX XXXX they refuse to produce a contract as stated in the letter dated XX/XX/. They don't have any financial hand in anything dealing with my Loan Contract with the Loan Originator. I pay my own taxes and homeowners insurance. So they are committing fraud and threatening me with losing my home and freedom.
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| 02/01/2022 |
Yes |
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- Trouble during payment process
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Web |
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XX/XX/XXXX I requested a another escrow analysis of my loan payment. I have recieved a new payment statement of {$1900.00} with an increased escrow monthly payment of $ XXXX. I spoke with XXXX and she was able to waive the $ XXXX " escrow reserve '' payment per my request. She advised me that I could pay the $ XXXX payment to be paid over 12 months for the escrow shortage, which added up to $ XXXX to remove from monthly payment sum. So, I made electronic payment of {$1700.00} toward escrow the same day to have this removed from my monthly payments. In addition, I notified her that I had applied for my county tax exemption and it was adjusted in a reduction of {$940.00}, which should reduce my monthly payments as well. I submitted the letter to them via PennyMac message center. I recieved emails stating that it was under review on the dates of XX/XX/XXXX and XX/XX/XXXX and should get a response and note an adjustment in premium within 14 business days.
I have submitted two additional emails on yesterday to follow up as another payment of {$1900.00} is due. Please note, despite my above payments I paid {$1900.00} for XXXX to allow time for review and adjustments and now today is XX/XX/XXXX and PennyMac is still requesting a payment of {$1900.00}. This continuation of this payment is cause for financial hardship for me and they show their indifference in acknowledging my repeated calls and emails.
I did call on XX/XX/XXXX after being on hold for nearly XXXX minutes, I spoke with XXXX, who said she would resolve it and put me on hold only to disconnect the call ; and no one called me back to resolve it or responded to my emails from yesterday.
I have attached all the emails and the tax form for your review and a resolution.
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| 02/06/2017 |
Yes |
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- Loan modification,collection,foreclosure
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Web |
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My mortgage loan was sold from XXXX XXXX XXXX to PennyMac in XXXX of 2016. I had at that time been approved for a mortgage modification trial payment. In XXXX, when my first trial payment was due i called in to make that payment. The phone rep asked me my checking account number for the payment. I told them i would like to pay with a debit card, my reasoning behind using that form of payment was that i am on a fixed income and i only get paid once a month so i had to wait till the end of the month for the payment ( within the 30 days required of course ) and i wanted to make sure that payment was made instantly in the event the checking account took to long as i was making sure other payments did n't go through first. This would have put me in a place where my trial payments were not late.
The rep would not accept the debit card as payment so i was only left with XXXX option of paying through my checking account. The second month came around and i made the payment through my checking account, and the payment bounced as i was n't able to make a more immediate payment with my debit card putting my loan payment through as a priority.
When i went to make my final payment in XXXX i was told i was kicked off the modification trial agreement. I stated at that time if there were any funds missing i would be able to ensure those payments were complete and they would not discuss this with me. Where i do realize the terms of a modification trial payment is to make the payments on time, i feel as though i was almost set up to fail by denying me an alternate form of payment. I was told " no banks take payments through debit accounts '' which is an absolutely XXXX statement as ALL the accounts i have had accepted those types of payments.
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| 12/07/2022 |
Yes |
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- Trouble during payment process
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Web |
Servicemember |
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On or about XX/XX/2022 I made 2 payments totallying {$1800.00} after we worked out a payment plan. The check was returned, so I used my debit card to pay it on XX/XX/2022. Pennymac retried the check and the debit came through at the same time, eventhough it was just about {$2000.00} in the account. This brought my account to - {$2000.00}. My bank sent a request to get one of the {$1800.00} back, which I was told by the company initially they dont do unless it is their fault. One month later I recieved a letter saying I am 4 months behind. I called Pennymac, by the way, this is the mortgage company. When I contacted the company they stated " they reversed the payment in XXXX. I went to the bank because we never recieved the funds. Pennymac said they would investigate were the funds were, they never called my back so, a few weeks later I called them back and was told, " you have to get the money from the bank ''. Again, I went to the bank to inquire about the possibility they somehow misplaced the funds. The bank assured me they did not recieve any funds. Now, they initially said they returned the money in XXXX, which was what was stated on my online account until recently, now it says it was returned the same day I made the payment, which could not be true. Someone at Pennymac had to change the date. All I want is the money to be applied for payments that I am behind, don't understand why the potential cover up. I will include both XXXX and XXXX bank statement, which was requested by Pennymac as well, the negative balance we had to overcome on XX/XX/2022, the bank 's request for the funds and their document that now states it was reversed the same day I made the payment. I highlighted the amounts to make it easy to find.
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| 09/25/2017 |
Yes |
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- Trouble during payment process
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Web |
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I believe that per the terms of my real estate contract purchasing the property where I reside that I will be eligible to cancel my mortgage insurance in XX/XX/XXXX. I have contacted my current loan servicer - PennyMac - on two separate occasions, asking them to provide me with the information that I need to cancel PMI, but to date, no information has been provided. PennyMac has simply chosen to disregard their obligation to tell me exactly under what circumstances my mortgage insurance will be cancelled, and instead has repeatedly told me that I just do n't qualify at this time. The first letter I sent was in XX/XX/XXXX. PennyMac responded in XX/XX/XXXX with a letter that stated that I did n't qualify. I responded to their letter with a letter dated XX/XX/XXXX demanding that they provide me with complete information regarding how and when my mortgage insurance could be deleted, which was ignored. I wrote again in XX/XX/XXXX in anticipation of the approaching date when I could cancel my mortgage insurance. Once, again, in a letter dated XX/XX/XXXX, PennyMac did not provide me with any information regarding when and how my mortgage insurance could actually be cancelled, they basically just told me that I do n't qualify now, and that 's it.
I personally believe that this is an attempt on the part of PennyMac to deter me from not only cancelling my mortgage insurance now, but also to discourage me from inquiring about it in the future. It seems to me that they may just believe that if they simply continue to deny me, without providing detailed information regarding exactly how and when I can cancel my mortgage insurance, that I will eventually give up, and just continue to pay the premiums, maybe for many years to come.
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| 09/16/2020 |
Yes |
- Mortgage
- Conventional home mortgage
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
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I applied to refinace with my current lender, Pennymac Loan services on XX/XX/XXXX. After a simple process my loan was locked around XX/XX/XXXX. Since XX/XX/XXXX I have been stuck in a constant game with Pennymac with little to no response. First they said I was in a flood zone, I proved I wasn't in a flood zone and solved the issue. In XXXX they told me no documents were remaining and I'd have a closing date within a few business days. I was unable to reach anyone at Pennymac for over 6 weeks after this communication. Only when I threatened legal action did I get a return call when they brought up the flood issue again. I solved the flood issue again. They assured me no other documents were needed and I would soon close within days. They asked me for ANOTHER hard credit pull because my previous one expired and I allowed it with the caveat that they would expedite my loan closing. Soonafter, they made up an issue that my home insurance needed to be for the full amount of my mortgage instead of the structure replacement cost in conflict with Dodd-Frank legislation. This further delayed the loan. I demanded to rescind my application and they once again made promises a closing date would be issued in the next 3 business days. No closing date arrived and my credit window is closing yet again to discuss this with other lenders.
Pennymac has operated with malice and bad faith to lie about issues with my refinancing and I believe they had no intent to ever close the refi, they simply wanted to " run out the clock '' on my credit window so I wouldn't go with other lenders. I will be seeking legal action if they do not honor their communication to close. I have emails and phone recordings to prove all of these statements.
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| 06/23/2021 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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I have had multiple phone calls with XXXX XXXX to try to fix this issue since XXXX of XXXX. Multiple cases have been opened and there was part of the issue fixed in XX/XX/XXXX. More cases were open to fix the second part and nothing has been done since.
XXXX XXXX did not pay my property taxes in XXXX of XXXX. In XXXX of XXXX, I received a tax bill from the City with increased property taxes, supplemental taxes, and penalties and fees. I have a tax abatement on my property that the city took away for XXXX which retroactively impacted my XX/XX/XXXX tax payment and XX/XX/XXXX tax payment. They took the abatement away because of the missed XX/XX/XXXX tax payment.
My tax bill was {$1100.00} in XXXX of XXXX and should have only been {$1200.00} in XXXX of XXXX.
On XX/XX/XXXX, XXXX XXXX debited my account {$1900.00} for city taxes, {$810.00} for supplemental taxes, and {$78.00} in tax penalties and fees. After multiple phone calls, a property tax refund was issued for {$890.00}. This was a credit for the {$810.00} supplemental taxes and {$78.00} in tax penalties and fees.
I have tried to get XXXX XXXX to refund me the difference between {$1900.00} in city taxes and the {$1200.00} that was actually due. I should not have to pay the higher city taxes because of a mistake on XXXX XXXX 's part of not paying my XX/XX/XXXX taxes. Each time I call I get told a case is being opened up. In XXXX, I was told my case was being expedited to a team who would give me an update in 4-5 business days.
I called back in today and was told to send a message in the portal and then call back and try to speak to a supervisor. She told me she did not have a process that could help me other than to try to find a supervisor to speak to.
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| 02/21/2021 |
Yes |
- Mortgage
- Conventional home mortgage
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Web |
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I first started a refinance with PennyMac on XX/XX/2020, hoping the loan would close before year 's end when I could reap the benefits of a lower interest rate and claim points on taxes.
Delay after delay and error after error have made the process drag on to the point where almost 4 months later, the loan has not closed and I'm worried it never will at a time where interest rates are increasing.
I have an 800+ credit score, delivered every piece of information and signed document they asked for, usually within hours, but never more than a day, yet they have : 1. Failed to communicate promptly after several emails and phone calls ( sometimes taking over a week to get back to me ).
2. Cancelled a necessary home appraisal ( after I paid for it ), before telling me it was actually required again and they needed to delay closing because of the mistake.
3. Done a hard pull of my credit report twice because it's taken so long, impacting my credit.
4. Made me reschedule closing 3 times and counting after repeated mistakes.
5. Tried to require I bring something like {$18000.00} in cash to close to cover taxes that had already been paid ( though they corrected this after several follow-ups to document that it wasn't needed ).
6. Kept stringing me along saying the process was almost over, preventing me from using an alternate lender when rates were still low.
Not closing the loan has already made me pay several months of higher mortgage payments and interest and contributed a huge deal of stress during an already hugely stressful time.
If the loan doesn't close, it will cost me $ XXXX or $ XXXX of thousands in damages over the life of the loan they promised to provide, and I'm hugely worried at this point.
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| 07/12/2021 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
Servicemember |
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I am with Pennymac Loan Servicing. I received a notification that my home was going to be foreclosed on XX/XX/2021. I checked my bank account and all payments had been made. I called Pennymac and they ask me if there was a special reason why I made my XXXX payment on a Friday. I responded that the payment was due on a weekend so I made it early. I was then told that because it came early and was short it went to principle. They said that there was an escrow analysis completed in XXXX and that my payment went up. I let them know that I never received a notice of the payment increase and I was told that it was uploaded into my online account, which I have never used. They then told me that my XXXX payment was also short and that payment was placed into suspense. When I asked how short I was they told that both payments together were short {$33.00}. They put me into foreclosure for {$22.00}, I could not believe it. They did tell me that I had two late payment fee reversals that I could use to waive the two late payments. Nice of them considering I have two loans with Pennymac for over 15 years.
My XXXX payment was made before I could I could change the automatic payment amount from my bank so I went to the Pennymac website and made a payment for the difference. I received a notice from Pennymac that my additional payment was return by my financial institution and they put me back in collections for the {$11.00} I still owe. I called my Bank, XXXX XXXX XXXX, and they commented that no payment had been returned. So now I am on the phone again with collections for {$33.00}, there systems are down so they told me I have to call back. I told them I was going to notify the CFPB and guess what they called me back.
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| 05/23/2017 |
Yes |
- Mortgage
- Conventional home mortgage
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- Struggling to pay mortgage
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Web |
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On XXXX XXXX , 2017 , a shortsale packet was sent to Penny Mac for their review. We followed up every 2-3 days throughout this process. I understand that the file was orig inally set up to review for a short sale, but was declined because the file needed to go through a " waterfall '' process wherein it would be reviewed for other loss mitigation options which the borrower did not qualify for nor did he request. An escalated " waterfall '' review was set up, and around XXXX XXXX , XXXX XXXX called in to confirm his financial information, at the request o f Penny Mac. O n XXXX XXXX , Penny Mac r equested thei r RMA a nd IRS form XXXX . We had provided the standard RMA and XXXX forms, however , Penny Mac informed us that those forms, while standard, needed to be updated with the specific Penny Mac forms, so we provided those on XXXX XXXX . Subsequent follow up with Penny Mac s howed they received but did not process paperwork sent to them, so we resent the documents again on XXXX XXXX , and again on XXXX XXXX . We were then told that XXXX XXXX had been declined from the " waterfall '' process and was eligible for a short sale. The next day, we were told that the short sale review could not be completed because the " waterfall '' review took too long and put us within 37 days of the foreclosure sale date. Because of Penny Mac 's mishandling of the file originally with the wrong review track, and their repeated misplacing of necessary documents, their " waterfall '' review took too long and because of it, they failed and refused to reschedule the foreclosure sale date to allow the short sale review, though they have been asked, twice, in writing, to postpone the sale.
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| 04/07/2017 |
Yes |
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- Settlement process and costs
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Web |
Older American |
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Before we refinanced we had Net Escrow Refund of {$2400.00} with PennyMac Mortgage. We refinanced a VA loan with PennyMac Mortgage Co. on XX/XX/XXXX to lower interest rate. I requested that Closing Disclosure be faxed to us, we signed and faxed it back. We had a XX/XX/XXXX loan signing, the XX/XX/XXXX Disclosure did not match the Loan Docs., final closing statement, but we signed anyway. We then noticed we did not see or receive Escrow refund on loan documents. I called, spoke to loan agent XXXX XXXX, Loan Officer ( XXXX.Ca. ), she referred me to loan processor, XXXX XXXX ( XXXX, Ca. ) XX/XX/XXXX, he said he would look into it. On XX/XX/XXXX over 2 months later, I received a new Addendum to closing disclosure with completely different figures. I did quite a bit of research on this and discovered that under TIL-RESPA Requirements, The new CDF comes with Stringent Requirements that were not met. First the time line, 2nd-Closing Cost Details-costs of loan were changed in different areas Also, ie ; Summary of Borrowers and sellers transactions, Escrow funds, etc. I am lodging complaint because of this and that 12 CFR1026.38 ( f ), ( g ) and CFR 1026 ( j ) and ( k ). which were not done. I asked for breakdown on the summary of Borrower 's Tranaction CFR1026-38 ( j ) ( 1 ) - ( 4 ) ie ; ( Itemization amounts XXXX to XXXX ) also see Appendix H of CFR 1026.38 ( t ). I also noticed a amount shown as Aggregate Adjustment, What is does that mean.
The amount paid to 3rd party XXXX change. I I AM REQUESTING A FULL REVIEW AND DISCLOSURE OF MY CLOSING PAPERWORK. ALSO, Including the above itemizations, breakdown of ESCROW ITEMIZATION OF AMOUNTS PUT IN LOAN AND WHERE IS ESCROW AMOUNT OF {$2400.00} IN PREVIOUS LOAN.
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| 02/25/2016 |
Yes |
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- Loan servicing, payments, escrow account
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Web |
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I have had my loan for almost 3 years now and never got a 30 day late credit reporting. In fact, prior to my loan being transferred from XXXX XXXX XXXX, I never made a late payment. Since Pennymac acquired my loan, I have not had my payments applied properly and on time. On XXXX XXXX, 2015, I made a payment for my loan account. I mailed a second payment days later. I received information today that my loan was 48 days past due which has never happened prior to Pennymac acquiring my account. Please note I did not receive any statements regarding my loan account until today. Today, I called to make a payment over the telephone. The representative indicated that my loan was late and past due 48 days and 30 day late was applied to my credit report. My credit is very good and I have never made a late mortgage, car, and or credit card payment. Most important, when my loan was service transferred I was informed by a PennyMac representative that negative reporting does not occur until a loan is 60 days past due. Which was not true and deceiving and violated RESPA, Reg X, ECOA, and UDAAP. I requested of the representatives to have the calls pulled regarding my account, and I disputed the negative credit reporting. The CFPB needs to investigate this company as their practices are violating RESPA, Reg X, ECOA, and UDAAP. Pennymac did not apply the payment I mailed in and their representatives gave me false information regarding my loan account. I am appauled that this company can get away with this. PLEASE HELP, MY CREDIT IS BEING RUINED. I am requesting that the 30 day late be removed from my credit report as I mailed that payment and was initially given inaccurate information from a PENNY MAC representative
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| 01/30/2018 |
Yes |
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- Trouble during payment process
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Web |
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I closed my home in XX/XX/XXXX. On XX/XX/XXXX XXXX I received in the mail a delinquent property tax notice from XXXX County in the amount of {$1500.00} including {$31.00} in penalties. My daughter lives at the property. It was also stated on the notice that this amount must be paid by XX/XX/XXXX to avoid advertisement for lien on the property.
I purchased the house with my daughter on XX/XX/XXXX and at that time an amount {$1600.00} for 13 months of payments at {$130.00} per month was accounted for and deducted from proceeds for payment of property taxes. Settlement statement Item : G line 3 under Other Costs.
However, it appears the XXXX tax bill was never paid by Penny Mac from the escrow account ( in fact the money is still sitting there ) and has become delinquent.
My daughter called the mortgage company on XX/XX/XXXX and was told that the escrow company would be contacted and requested to take care of issuing the funds to XXXX County.
My daughter called again yesterday to make sure the check was in process and spoke to XXXX but was told that the check has NOT been disbursed one week later it is still pending. The representative today also told my daughter that she would alert Escrow to get the funds dispersed ... AGAIN.
As I do not have a record of the two phone calls, after my daughters phone call, I sent a letter as written notice of error yesterday to Penny Mac.
I also stated that if any damages are incurred due to this error, a formal complaint will be filed with Federal and State Agencies and CFPB.
As {$31.00} of the due amount is a penalty, I refuse to pay that part. Penny Mac should do so.
I just checked my mortgage account online and funds have still not been disbursed.
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| 05/22/2018 |
Yes |
- Mortgage
- Conventional home mortgage
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
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I have a Problem with how my Mother 's Death is Being used for Profit. In XX/XX/XXXX my Mother Passed away and I was on Her Mortgage as a Co borrower.At That time XXXX had the Loan. I Submitted my Mother 's Death Certificate but my name is not on her death certificate as power of Attorney.So The Loan Was sold To Penny Mac Loan services and was done as a way to profit off my Mother 's Death.Penny Mac Got the Loan in the about XX/XX/XXXX.Heres were the situation went totally wrong, Once the death certificate got to Penny Mac They should have went at the Power of Attorney for the Pay off of the loan.Instead they came after me and clearly came with the intent to scam me out of my mother 's home. In XX/XX/XXXX the Home went into foreclosure and the Power of Attorney wasn't held accountable for the funds to pay off the home. I was held accountable, but I wasn't the power of attorney over my Mother 's Estate.I was continually harassed for 5 year 's by Penny Mac unfair business practices.On XX/XX/XXXX, Penny Mac Sold the Loan to XXXX XXXX XXXX once they figured that they over looked the name of the power of attorney on my mother 's death certificate.Now XXXX is trying to continue this illegal game of Death. I am not the power of attorney of my mother 's estate. My Mother was the primary holder of the Loan and I was a Co borrower.The Power of Attorney on my mother 's death certificate should be held responsible for any dealings with these mortgage companies.Once the company 's realize they made a horrible mistake by how I was and am being treated, what will be done. Both companies should have my mother 's death certificate so they should have to produce it with a explanation of this Illegal Practice.
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| 11/16/2015 |
Yes |
- Mortgage
- Conventional fixed mortgage
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- Loan modification,collection,foreclosure
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Web |
Older American |
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I am filing this complaint on behalf of my clients. XXXX XXXX of XXXX XXXX XXXX XXXX, New Jersey XXXX. They are from XXXX and speak a limited amount of XXXX. The clients retired and could not longer maintain the mortgage. Clients stated they attempted to sell the property but the market during that time was too low and they were unable to get their asking price.
Clients state they asked for a short sale, but was never provided information on a modification or any retention programs offer.
When they came to XXXX, they had received some terrible advise. They had filed bankruptcy, and had limited amount of savings.
Once I investigated the information provided and back tracked to Penny Mac, what they did do to attempted to do to assist the clients I found the following : They were sent to a translator that only spoke XXXX as a second language, They were never provided information to obtain a modification, forbearance or mediation in a timely fashion.
The attempts I have made to assist them has been met with phantom phone numbers to attorney 's and letter send after the fact. I spoke with Penney Mac to attempt some relocation funds in XXXX. The sent a letter when we clearly stated they would be out of the country to attend, to an ailing mother. So the offer expired prior to their return.
The Client has been issued a eviction but was not Offered any assistance they could use in a timely fashion.
I believe they are not acting in a fair business manner as it relates to these clients. I have tried to contact agencies in their area, the attorney XXXX XXXX and leave messages with no answer.
Thank you for any assistance you may be able to provide to XXXX XXXX and spouse.
XXXX XXXX.
XXXX XXXX
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| 03/01/2023 |
Yes |
- Mortgage
- Conventional home mortgage
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
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Hello, I am a concerned XXXX 's and other lending institutions that purchase conventional mortgages on the secondary market such as PennyMac, XXXX XXXX and XXXX XXXX are imposing loan level price adjustments that are very discriminatory and impart greater costs to lower income households purchasing lower cost homes. These loan level adjustments while holding credit scores, down payment amount and debt to income ratio as static components of the application are ultimately charging a borrower who is getting a lower loan amount a much higher interest rate than if they are getting a higher loan amount. I've run the analysis through multiple lenders, both correspondent, wholesale and broker based and this strategy is costing a borrower over 0.5 % more in the mortgage interest rate. This should be illegal and addressed if a verified and authentic algorithm is not being applied to justify this difference in rate.
Why is the interest rate higher for a lower loan amount for one borrower if the credit score is XXXX, the debt to income ratio is the same and the down payment is the same? This is not equity in housing and violates TILA & Reg Z. As consumers become aware of this and that they are paying more in interest for no other reason than they borrowed {$120000.00} rather than {$200000.00} it will cause some major issues in regards to equality in mortgage lending and truth in lending.
I hope the CFPB is taking more actions to investigate these loan level adjustments that are NOT being applied in an equitable manner. This undermines the integrity of the mortgage industry and mortgage professionals who are working to provide their clients with transparent, clear and equitable loan products.
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| 08/09/2021 |
Yes |
- Mortgage
- Other type of mortgage
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- Struggling to pay mortgage
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Web |
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I have reached out to Penny Mac for help regarding a Modification. This has been on going for 8 months. They first tell me I do not qualify due to Income so I added my Spouse. We provided them all the documents they ask for. I even informed them that My spouse and I recently got married so everything all my spouse personal information DL or SS card has been changed to legal new name. Penny Mac sat on all this information and offered no resolution. We still in a Pandemic a most offices are allowing you to only mail in documents to be proceed, Like the Social security office you can not come into the building everything has to be done thru mail. We have provided Penny MAc with every document to show that we are working on getting my spouse legal named changed. the email from the underwriter states my spouse SS card the last name doesn't match and now this letter states DTI issue.I spoke to XXXX " LEVEL II '' mgr and he went over the finances for the reason of the Denial and the Underwriter " XXXX XXXX '' did not add my spouses income like she advised that would be needed. I explained to him that I have been in contact to mare that everything the underwriter asked for she received and to find out she did not even use my spouse income like " she recommended '' is just frustrating. I want PEnny Mac to pull the Calls from today XXXX and XXXX to heat how UNHELPFUL their Employees have been During a pandemic. The Mgr just brushed me off with " Ill file a complaint '' which does not resolve the issue at hand. PennyMac was so quick to deny me for help but quick to suggest foreclosure. It's frustrating because they offer no help to try to resolve the issue. Please help as I want to keep my home.
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| 08/23/2023 |
Yes |
- Mortgage
- Conventional home mortgage
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
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I received a letter from my mortgage company, PennyMac, with this text on the outside : " IMPORTANT INFORMATION ABOUT YOUR HOME LOAN ''.
Of course I had to open the letter. ( After I realized it was an advertisement, I realized that looking for the presorted-standard postage was the clue that the text was a lie ) The letter offers me up to {$50000.00} with a cash-out refinance.
Reading the fine print, they're offering me a {$340000.00} loan at an interest rate of 7.624 % after paying for XXXX discount points and with a XXXX score of XXXX. This will have a mortgage payment of $ XXXX ( without escrow ).
My current interest rate is 2.75 % on about {$290000.00} balance ( XXXX years remaining ). My non-escrow mortgage payment is currently $ XXXX. They're looking to raise my monthly payment by $ XXXX.
I guess I have several problems here.
1 ) I think it is wildly dishonest to require my attention for an advertisement. Given the important financial relationship I have with PennyMac, I have to pay attention to communications from them ... so sending advertisements under the guise of " IMPORTANT INFORMATION ABOUT YOUR HOME LOAN '' is extremely misleading.
2 ) PennyMac has all the information to know that this is a terrible deal for me. It is an absolutely usurious offer. There are very few situations where this offer would be anything other than a terrible deal designed to entrap a financially stressed person.
3 ) I had already requested to be opted out of marketing, but apparently that may have only applied to email marketing, not snail-mail too?
I have included images of the envelope, front/back of the letter, and insert. Please feel free to reach out to me with any questions.
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| 11/21/2018 |
Yes |
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- Trouble during payment process
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Web |
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I originally received my mortgage loan from XXXX XXXX XXXX in XX/XX/XXXX and I felt they were great. I did run into some hardships with them and was late on a few payments in XXXX but with there patients I got caught up in XXXX. In XXXX they sold my loan to Penny Mac. Penny Mac has been nothing short of fraudulent since then.
In the months of XX/XX/XXXX, Penny Mac, my loan provider waited until after the due date of XX/XX/XXXX to process my payment and charged me a fee of approximately {$100.00}. On XX/XX/XXXX and XXXX the payment line of Penny Mac was down and I could not make a payment until the XXXX and they charged me another late fee of approximately {$100.00}. I called several times after that only to enter a phone tree in which I could never talk to anyone. When I finally talked to someone they said they would wave the fees in which they never have. I have called several times and Penny Mac representatives said they would wave the fee but they never have.
In late XXXX I noticed an additional fee under other fees which was approximately XXXX dollars but continued to go up every month. I called several times to ask what it was for and never really got a good answer. Today, I opened my latest bill and the " Other Fees '' had reached {$24.00} so I called Penny Mac. The Penny Mac representative said the fee was because my Mortgage was delinquent from the XXXX incident described above and I would have to pay this fee to " have someone come to my house to make sure someone was still living there FOR THE LIFE OF THE LOAN ''. This is clear Fraud as no one has stopped by my house to make sure I am present. This is clearly Fraud because I was never late on my loan with Penny Mac.
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| 10/24/2016 |
Yes |
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- Loan modification,collection,foreclosure
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|
Web |
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I have become XXXX XXXX. I no longer can pay my mortgage XXXX Penny Mac.
I have tried two ( 2 ) times to modify and did n't qualify. Penny Mac sent me a letter with foreclosure alternatives on XXXX XXXX. I have tried to call the person in contact to because the letter says to get back with Penny Mac so we can start the process.information of short sale & deed in lieu. I have had so many different names in all the letters. I received 3 wks ago about me wanting to start the process and hopefully it 's not in foreclosure. Received another letter 2 days ago that says the same thing. That it 's in review. I called last week & the lady said it 's in the courts on foreclosure. That is almost 60 days since I have wanted to short sale. My only income is my XXXX check. ( early retirement because I do n't receive any XXXX benefits ). They had me calling a Texas office and the other person would transfer me to voice mails to leave msgs and no one would call me back. XXXX XXXX different names. Now it is XXXX XXXX. I had to call the supervisor to get her to call me. The XXXX & only time was 3 wks ago. She said someone would call to appraise my home & look inside. I received the same letter this past Friday saying the same. I had asked her before if I should get my documents in orders to mail and she said no. To wait for the appraiser. I was told by several people this weekend that said they were told the same from Penny Mac that the home was in review for Short Sale when it actually was in the courts for foreclosure. I have tried everything to keep my home. Single mom with XXXX daughters that I put through college. My life has dramatically changed. I pray that it is not in foreclosure.
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| 02/04/2020 |
Yes |
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- Struggling to pay mortgage
|
|
Web |
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reached out to PennyMac regarding a loan modification.I wanted to be pro active while account is current as they recommended, i uploaded all documents in a timely manner including the reasons of rising expenses college for children, ( XXXX ) increase in mortgage payment due to property taxes increasing escrow and escrow shortgages medical payments and this PMI which stays on even though under 80 % LTV. my point of contact was XXXX XXXX but we dealt with XXXX XXXX .The modification was denied /XXXX XXXX cited no imminent danger of default.? She cited FHA works off the gross pay. when calculating modification.What is problematic is pennymac can obviosly see as we described in borrower situation thats premised with supporting a family of XXXX on XXXX XXXX net! Also whats troublesome is that XXXX XXXX stated FHA works off borrower gross pay which as a state employee with massive mandatory state deductiions which leaves a greater disparity between gross and net is prejudicial to a state employee.For instance maybe my net pay looks ok on paper but how many private sector employees single wage earner family of XXXX takes out close to {$8000.00} ALONE just in retirement contribution alone.! there must be and exception or or my special circumstance should be strongly considered and request escalated for assistance.Also i am not witholding enough federal my accountant says which will leave me around {$3600.00} net per month to support a family of XXXX .predicated with a XXXX mortgage payment which is way of 40 % DEBT TO INCOME! iN CLOSIN borrower has presented a defense and back it up with plausible reasoning with the facts on why my loan should be modified.i will not stop here.
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| 01/29/2018 |
Yes |
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- Struggling to pay mortgage
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Web |
Older American |
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Re : COMPLAINT - PennyMac Loan-Failure to Disclose.
Due to recent hurricane Irma, I applied for and was approved for a Disaster Forbearance Plan. PennyMac expressly stated that during the Disaster Forbearance plan period, late charges would be waived and credit reporting would be suppressed. .. BUT PennyMac DID report to the credit bureaus that I was 2 months late which caused my credit scores to plummet. ( XXXX dropped to XXXX! ) I had made my XX/XX/XXXX payment on time and I made a payment XX/XX/XXXX after which I repeatedly tried to call their number without success. I was earnestly trying to speak with a live person. I finally sent a message through their message center.
On the notice PennyMac sent me on XX/XX/XXXX, it states that at the end of the forbearance plan, ( XX/XX/XXXX through XX/XX/XXXX ) I would be contacted " to reassess '' my current circumstances as well as be provided information on alternatives that may be available to me. This did NOT happen. Furthermore, it states that " at the end of the forbearance period, PennyMac will work with me to repay the amounts included in the forbearance agreement. This too, did NOT happen. Instead. I was bombarded with NOTICES OF DEFAULT AND INTENT TO ACCELERATE.
In one week I made 3 payments of {$930.00} ; XX/XX/XXXX ; XX/XX/XXXX ; XX/XX/XXXX.
PennyMac has completely reneged on the agreement to suppress reporting to the credit bureaus. Now I am concerned that my low credit scores will affect my car insurance rate, credit card rates, etc. PennyMac should be made to retract the erroneous information they sent to the three credit bureaus.
I would appreciate any help you can provide regarding this matter.
Thank you,
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| 10/12/2021 |
Yes |
- Mortgage
- Conventional home mortgage
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
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We applied for a loan with Penny Mac. After discussing with the loan officer the what the situation was he decided that we should get a certain type of loan. We paid a {$100.00} fee and provided all documentation. We began getting stuff in the mail that our credit has been run and also documentation from a company stating that they would be handling the closing etc. I was under the impression that we should be closing soon and I reached out to Penny Mac on XX/XX/XXXX knowing that we should be closing soon. I was told that someone would call me back. On XX/XX/XXXX I reached out again because I had not heard back and at this time I was told that the loan had been moved to an in active status and that someone would reach out to me. I had not heard back and reached out again on XX/XX/XXXX and requested a call and was told that the issue would be escalated since this was my third time asking for a callback. I received a call back from XXXX XXXX who said that she was a manager and that the company had failed to do their job and to inform us that we were not approved for a loan and that we had four days left on our locked in interest rate and that she would take the loan in front of the board on Monday the XXXX to see what they could do. I once again had not heard back so I reached out to XXXX yesterday and finally received a call back and was told that there was nothing that they could do and that we were not approved for the loan even though they had failed to inform us in the time period they are legally suppose to. We have now lost out on a locked in interest rate which was a lot lower than what I can get now and I am having to pay interest and try to find another company
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| 10/23/2019 |
Yes |
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
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After much solicitation from PennyMac, I decided to initiate a refinance on my home, which they were currently servicing the mortgage for. The initial individual that I worked with was XXXX XXXX, she was wonderful ; polite, engaged, great phone etiquette, great follow up, and simply made me feel like this is a company I want to be in business with. As soon as she handed me off to XXXX XXXX, the issues started. Perhaps to no fault of his own, but his lack of follow up made the situation 10 times worse. I was the one that had to call over and over and over to get an update, I would leave messages and send emails and not even a courtesy email back. All my paper work was submitted in order, my appraisal came back even higher that what we needed, my credit was where it needed to be, my reserve funds were where they needed to be, everything was in perfect order to close my loan. They denied me because I had some mail going to my mothers house, which is not wrong in any way shape or form. They never asked for a letter of explanation, they never asked for a copy of my license, never put a call to me. If I did not call over and over, no one would have even told me. I asked for a manager and was lied to about it being escalated to someone who was not even there for days. I offered to provide my birth certificate and proof my parents owned the house, I sent the letter they never asked for, I sent the copy of my license they never asked for. To this day no one in management has called me back. The items I provided should have been requested from me, I work in the same industry and know that my file has been mishandled and as a client I have not been given the service I deserve.
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| 05/05/2019 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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We received a letter stating that we had requested to close the escrow account and now we will be charged an additional fee to reopen it as we are required to have it? We did not request Escrow to be closed and if we did erroneously make such an error while accessing our account online, then why wasn't I notified immediately via email or more appropriately we should have been notified at that moment that doing so would create added fees as we are required to have the account. I have reviewed all my email messages including spam and promotions and there has been no message that I elected to close escrow on the date I was on the account as stated in the letter. There are also no notices or confirmations of this action in the message center of our account online. My husband received a letter post marked XX/XX/XXXX letter that he was not able to open until after banking hours on XX/XX/XXXX and also on a weekend had a required response date of XX/XX/2019 before escrow would be closed automatically on XX/XX/XXXX which is a Monday allowing us absolutely no time for resolution before action will be taken. It is not appropriate to make such demands or send such letters with less than 10 business days to respond without email notification, or a message in the message center. In addition, I have made several attempts to notify them via the messaging center online, however when I click submit the message does not submit and does not show up that I sent a message after several attempts. As mentioned it is a weekend and the letter was opened Friday evening after hours, we can not stop the closure of Escrow with added fees to reopen as we are told it will occur Monday XX/XX/XXXX.
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| 01/22/2016 |
Yes |
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- Loan servicing, payments, escrow account
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Web |
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PennyMac took my XXXX XXXX mortgage payment of {$1600.00} and applied it to late fees and then put the rest in escrow. Then they reported my mortgage as being 30 days late causing my credit score to drop XXXX points. When I called them on XXXX XXXX, XXXX, the rep I spoke to acknowledged what they did, apologized and said she would fix everything including reporting to the credit bureau that I was never late. All she said was I owed {$180.00} in late fees which I paid on the spot. I could hear her boss in the backroom agreeing with everything she was saying to me. The next day XXXX XXXX I paid my XXXX payment of {$1600.00}. That afternoon I started receiving calls that my mortgage was late and I called them back every time. They called on the XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XXXX, XXXX, and now today the XXXX. Every call was XXXX plus minutes long stating everything that was taking care of on the XXXX XXXX call. Everyday but today they have said oh ok, we will make a note of this and it will be fixed. With the exception of today, today the rep tells me, that the conversation never happened on the XXXX even thought I asked her several times to review the recording tapes and that I still owe {$1300.00} for XXXX payment.
Obviously no one there knows what they are doing and as the customer I am getting the raw end of the deal.
The women I am speaking too now is telling me I am wrong about everything and I owe an additional {$1300.00} before all this will be fixed. So now the payment I made for {$1600.00} for my XXXX payment was again applied to late fees.
This company obviously does not know what they are doing and should not be handling my mortgage.
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| 05/20/2019 |
Yes |
- Mortgage
- Other type of mortgage
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- Trouble during payment process
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Web |
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It is my understanding that during the process of working with your mortgage company to find an equitable solution to making monthly payments, my account should be on " inactive status '' and/or do not report missed payments. XX/XX/XXXX, XX/XX/XXXX through XX/XX/XXXX the mortgage company XXXX reported missed payments. From XX/XX/XXXX through XX/XX/XXXX I was working with the mortgage company to find and equitable solution to assist in making my monthly payments. I was initially approved for forbearance program until they deemed me ineligible. I attempted several times to have my loan refinanced and/or modified but was unsuccessful. I was placed in foreclosure proceedings and attempted to have a HUD approved nonprofit organization ( The XXXX XXXX ) find solutions to keep me from foreclosure. During the foreclosure mediation, the mortgage company 's attorney, XXXX XXXX representative and I reached an agreement to have the outstanding balance paid by a HUD approved program. This never occurred because of non communication between mortgage company attorney and HUD XXXX XXXX. Because of this lack of communication, the mortgage continued to go unpaid and accrue more late fees and attorneys fees. I was eventually approved for a loan modification in XXXX of XXXX, the total ( {$26000.00} ) amount of missed principal, interest, late fees and attorneys fees were added to the back end of the mortgage, interest rate increased, terms extended back to 30 years which increased my monthly payment by {$240.00}.
As a result of this entire experience my credit scores have been severely impacted coupled with the unnecessary stress during major life threatening medical treatments.
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| 11/11/2019 |
Yes |
- Mortgage
- Conventional home mortgage
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
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Around XX/XX/XXXX I spoke with XXXX XXXX at PennyMac to refinance my loan. We discussed what I wanted in the loan. I was very clear of my credit and past history. I told XXXX I did not want to have the taxes and insurance escrowed into my loan. XXXX filled out the application and asked for me to sign it but would change it later not to include the escrow account. I also said I wanted to pay off the PMI for the entire loan upfront and did not want to pay any closing cost.
XXXX said in writing this would be fixed but it never happen. He came back to me almost three weeks later telling me nothing he said closed be but I could still move forward with the loan. At this time I asked for supervisor who refunded the money I paid for an appraisal. He told me I could have a new loan person which I said I would. This never happen. In fact everyone stopped speaking to me. I call XXXX [ the supervisor ] several time and finally sent a email. To this date he has not responsed. I called the number and asked for his supvisor or the loan processor to call me. I called her and emailed her for over 48 hours and I got no response. Eventually on one of my many calls someone told me the loan was declined because of a foreclosure that will be on my credit until XXXX [ this is not true I do not have a foreclosure on my credit at all ] and a misstatement of my income. I asked it they would like me tax returns & to speak with XXXX XXXX [ she never returned ANY of my calls or emails ] [ she was the loan processer ]. During this time the interest rates have gone up and I missed out on a better rate. This has also negatively impacted my credit score. I have additional emails if needed.
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| 04/20/2017 |
Yes |
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- Loan servicing, payments, escrow account
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Web |
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I currently have a mortgage loan through PennyMac and have been generally happy with their servicing up until. I refinanced in XXXX XXXX to a lower rate after having the property tax rate for my house increase significantly. Everything seemed to be OK. However, out of nowhere my monthly payment went from {$2000.00} to {$2200.00}. This is for my upcoming payment due on XXXX XXXX , XXXX . When I checked with PennyMac they said that it was due to taxes and homeowners insurance increasing. However, I have not received any notification of change in my property tax rate for this year, nor any change in my homeowner 's insurance. Furthermore, PennyMac said that there was a shortage in my escrow of {$1000.00} that they needed to make up. I do not know how there is a shortage in the escrow, if they just went through a refinance with me a year ago. It makes no sense and I feel like they are taking advantage of me. Finally, I just want to say that they were less than transparent about this change. While I commend them on their alerts that they use to send statements and notices that my mortgage is due, they provided ZERO notification about this change until I saw it on my monthly statement. After I asked about it, they added some form to my online system and said they would mail it ... but come on. If this was a legitimate increase, they would have known about it for some time and could have at least provided me with a little more notice and explanation about such an increase. While {$140.00} per month may not be a lot to some people, for a middle class family of XXXX , that is a considerable amount that impacts my family 's monthly budget.
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| 02/05/2021 |
Yes |
- Mortgage
- Conventional home mortgage
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
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I applied for a refinance in XX/XX/2020, the process appeared to be fine starting with XXXX XXXX and XXXX XXXX. I paid for an appraisal, place was appraised at double the loan amount. They quoted me 45 days. They asked for the same documentation numerous times, I guess I didnt see this as a red flag for their inability to stay organized. They stopped returning calls, but when I would be able to get a hold of my loan processor, she would tell me we are almost there to the finish line. They would ask for new payoff statements since their deadline was passed, new bank statements, etc.
Two and a half months into it I was able to speak with the loan processors manager, XXXX XXXX. He assured me everything would be resolved. My debt to income needed to be adjusted, I paid off a credit card in the amount of {$9000.00}.
They asked me to get a letter from the credit card company showing this was completed. The underwriters confused where I am living with the property being refinanced. They could not understand the addresses were different. Letter after letter of explanation and Another three weeks went by with calling them daily. Sometimes not even a return of a call but an auto generated email, is everything okay we see youve called. Had numerous conversations with XXXX XXXX, where he apologized for all the lack of communication within his team and he assured me he would make this right and he would be In communication with me. None of which occurred. Waiting so long The rate expired, XX/XX/XXXX I received a call 90 days into the process saying they would not be able to move forward, no clear answers, unable to understand what happened in the 90 days of time.
|
| 03/13/2019 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Struggling to pay mortgage
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Web |
Older American |
|
MY WIFE WHO IS XXXX HAD HER XXXX BENEFITS STOP XX/XX/XXXX AND HAD TO RE-CERTIFY FOR BENEFITS WHICH TOOK ALMOST 1 YEAR AND CAUSED US TO DEFAULT ON OUR HOME LOAN. WE HAVE A SALE DATE OF XX/XX/XXXX PennyMac Loan Servicing has illegally foreclosed on our home pending sale date is XX/XX/XXXX. We applied for a modification XX/XX/XXXX, we were told that all documents were received and we would hear from them. Then we received letters from PennyMac showing an auction date of XX/XX/XXXX. We were horrified and saddened at the same as we were seeking help to save our home of almost 13 years. We were also under the impression that foreclosure proceeding should be suspended during the modification process. We contacted a Real Estate to list the property for sale. Comps in our area were showing sales for similar properties at $ 700,000k+ but we listed at {$680000.00} aggressively to sell ASAP and obtain a small equity to relocate. We contacted PennyMac for a payoff and was told {$610000.00}. This amount was fabricated to ensure we could not get any equity from the sale since 6 % would go to selling process.
PennyMac denied that offer and 2 additional offers. PennyMac had offered a short sale option and deed in lieu in XX/XX/XXXX. In XXXX, we dropped the price to $ XXXX, got an offer for {$640000.00} which PennyMac denied because they said the home was evaluated at {$650000.00} ... .We found this out XX/XX/XXXX last Friday and that was our last hope ... SALE DATE XX/XX/XXXX. WE CURRENTLY HAVE A VALID OFFER BUT PENNYMAC STILL WILL NOT CANCEL THE SALE ... WE NEED TIME TO SELL THE HOME. PENNYMAC USED ILLEGAL AND FRAUDULENT PRACTICES TO SELL OUR HOME. PLEASE HELP US.
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| 07/12/2023 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Applying for a mortgage or refinancing an existing mortgage
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|
Web |
Older American, Servicemember |
|
On XX/XX/2023 XXXX XXXX and myself XXXX XXXX submitted an Assumption Loan Application with PennyMac which is my daughter 's Mortgage Company. My daughter is no longer going to marry the other half owner. Thus, I am was in the process of assuming the ex-fiance part of the existing loan.
Today, XX/XX/2023, Wednesday at XXXXXXXX XXXX we were denied the Assumption Loan. XXXX XXXX from Pennymac informed us that we were denied the Assumption Loan because our debt ration was at XXXX XXXX. The required assumption debt/ratio is XXXX XXXX. When I asked show me the numbers exactly how that XXXX XXXX debt ratio was arrived to no avail, XXXX XXXX said he could not give me the numbers nor the procedure as to how the XXXX XXXX debt ratio was arrived.
I asked for Pennymac to send me in writing how they arrived at the XXXX XXXX ratio.
XXXX and I were approved for a {$420000.00} loan just XXXX weeks prior with another Mortgage Company. Our debt/ration was a XXXX XXXX At an interest rate of 6 %. PennyMac 's decision seems biased based on the fact that my daughter is financially in better standing since her and her exfiance purchased the condo. I am in excellent standing with a credit score of XXXX, my daughter 's credit score is XXXX. The headquarters to PennyMac Assumption Department phone number is XXXX XXXX XXXX XXXX is the Supervisor that I talked to on Monday after nobody would answer several phone calls and emails. XXXX XXXX 's email is : XXXX Please assist my daughter and I on identifying why were denied an Assumption Loan with numbers used to calculate our Debt/ratio. Lastly, I feel we're being discriminated against to due to our gender and XXXX surname!
|
| 06/12/2020 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
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- Problem with a credit reporting company's investigation into an existing problem
- Their investigation did not fix an error on your report
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Web |
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Our home was burnt down in the XXXX XXXX XXXX on XX/XX/XXXX. This would make our last payment to XXXX XXXX XXXX, our mortgage company, XX/XX/XXXX. Due to the disaster we were put on a forbearance plan. During this time we were bounced around with multiple people assigned to us. Every time we received a check from our insurance company it went straight to XXXX XXXX in order to pay off our home. The forbearance ended on XXXX of XXXX and due to waiting on checks from our home insurance and the time it took for XXXX XXXX to actually put the checks toward the loan and get approval, the house loan ended up being paid off In XXXX of XXXX instead. ( One month late ) Resulting in XXXX giving us a 120+ late payment, stating they would count our last payment to them being on XX/XX/XXXX instead. There was not enough communication between XXXX and us to give us enough knowledge to know what steps to take next and know what kind of consequences lie ahead if the loan was not paid off. There were no options explained to us, no extensions mentioned, little to no communication. There were times they claimed to have lost our checks on MULTIPLE occasions. We feel we have been wronged in this and ask for your help. We paid off our house and tried to within the first year. The second they received our checks they shouldve deposited them toward the house, not held onto them causing some to be lost in the process. We might not be the only people they took advantage of and dismissed. We do not deserve to have this on our credit when there was no effort on their end to help us. We can not get a loan to get a new house because of this. We are stuck and it is not our fault.
|
| 03/17/2018 |
Yes |
|
- Trouble during payment process
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|
Web |
Servicemember |
|
My mortgage holder ( XXXX, my loan number is " XXXX '' ) has incorrectly calculated my escrow analysis for the year 2018, resulting in an increase to my mortgage payment of roughly XXXX {$500.00} per month ( see below for additional details on this ). I have been working with them to try to get the analysis redone correctly since XX/XX/2018, I been repeatedly told by 2 separate representatives that the escrow account would be reanalyzed and the escrow payment would be lowered to the correct amount within 2 weeks ; it has now been 7 weeks since I first contacted them about this and they have made no attempt to fix the problem.
There are only 3 payments made from my escrow account annually ( these amounts are based on actual dollar amounts paid this year/last year, no major increases are expected on any of these values ) : School Taxes - {$3700.00} City Taxes - {$1900.00} Homeowners Insurance - {$660.00} -- -- Total paid out of escrow annually - {$6300.00} My monthly mortgage payment as of XX/XX/2018 went from {$1500.00} up to {$2100.00} following XXXX 's annual escrow analysis, of the new amount, {$1000.00} is going toward escrow. This results in {$12000.00} being added to my escrow account annually ( more than double what is needed to pay my taxes and insurance ).
At no point has my escrow account ever gone into a negative balance or been unable to fund my tax and insurance expenses. Both representatives that I've spoken to at XXXX have acknowledged that the escrow was calculated incorrectly, but no attempt has been made on their part to fix the error, and I am left paying an extra ~ {$500.00} per month into an already bloated escrow account.
|
| 05/17/2021 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
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|
Web |
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I have a home loan with PennyMac. Below are the details of the company XXXX. XXXX XXXX XXXX XXXX, CA XXXX Web : XXXX XXXX XXXX : ( XXXX ) XXXX Settlement Claim Checks : ( XXXX ) XXXX Customer Service : ( XXXX ) XXXX I have two issues to report regarding how PennyMac processes my payments.
I have tried to make additional payments to principal reduction couple of times in last few months. This is apart from my original biweekly payments, which I have been making on time. PennyMac sometimes will move my principal reduction payment to suspense account and will apply along with normal biweekly ( which actually is monthly as they combine two biweekly and apply monthly ) cycle. This way they are not giving me benefit which I should receive by making principal reduction earlier on the day of settle date of payment. Their reasoning is, sometimes my principal reduction payments falls too close to biweekly payment date and their system gets confused. But I have specifically selected principal reduction on their website for these extra payments. Every time principal reduction payment gets stuck in suspense account, I have find out and send email to them and they keep giving same reason for delayed application of principal reduction payment. I feel they are doing this purposely to delay my principal reduction payments.
PennyMac usually puts my first biweekly payment into suspense account and after receiving second biweekly payment it applies the total to the principal and interest. I am not sure this practice is valid. I was expecting them to apply each biweekly payment directly as it is received, so my principal gets reduced for every biweekly payment.
|
| 11/16/2018 |
Yes |
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- Trouble during payment process
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Web |
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On XX/XX/XXXX I closed on a home through XXXX Mortgage and XXXX XXXX XXXX. XXXX XXXX XXXX received {$2200.00} in for XXXX Winter Taxes in my Escrow along with other closing costs on the day of closing. According to my contract XXXX XXXX XXXX was responsible for appropriating my tax payments. I received a letter dated XX/XX/XXXX stating that my mortgage loan had been transferred to PennyMac Loan Services , LLC . I was instructed to pay them {$1000.00} monthly per my original contract and was insured that my payments and loan conditions would not change. On XX/XX/XXXX a whole year later PennyMac Loan Service, LLC unexpectantly increased my monthly payment amount to {$1100.00}. When I called and asked why they made a change they stated that the increase was to pay them back for the XXXX Winter Taxes. When PennyMac took over the loan from XXXX XXXX it was already in the contract for XXXX XXXX to disperse the funds to cover the XXXX taxes. PennyMac did not inform XXXX XXXX nor myself at any point of a payment being made outside of the original contract. They are now adding additional amounts to my monthly payments for the next twelve months to recover their {$1300.00} mistake. This appears to be a breach of contract and a violation of my consumer rights therefore I am requesting an investigation to search for illegal practices. My taxes did not increase therefore my payments should not increase on a fixed FHA loan. I have contacted them many times and they admit that they should have sent me notification of that payment sooner and want to discuss easier payment plans so they can recover their {$1300.00} on taxes that I had already paid at closing.
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| 10/19/2023 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Problem with a company's investigation into an existing problem
- Difficulty submitting a dispute or getting information about a dispute over the phone
|
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Web |
Older American, Servicemember |
|
I am a XXXX XXXX XXXX Veteran as determined by the VA I have a home loan now with Penny Mac The name of the loan is in my name and my wive 's name.
I requested to have to have the loan transferred to our revocable living Trust.
Penny Mac requested documentation to consider and allow for the transfer to our trust.
We provided all the documents and evidence they requested.
They stated they would be sending us a written confirmation in the mail within XXXX business days.
They have not sent that written confirmation.
We have been requesting ever since.
We have made more than XXXX requests- all have been evasive and they will not confirm Because the lender ( Penny Mac ) won't send us the written confirmation that we can transfer our loan to our revocable trust, we can not complete our estate planning and they are costing us a lot of money with attorneys In the event something serious happens to myself or my wife, Penny Mac will be putting our loan and estate in chaos and probate, which could cost us years and tens of thousands of dollars All we want is for Penny Mac to do as they promised. And do what they required We have fulfilled all requirements from Penny Mac My name is XXXX XXXX.
My Account Number with XXXX XXXX is XXXX I am XXXX XXXX XXXX and XXXX XXXX XXXXXXXX.
Penny Mac is wearing me out and I can not handle the stress of them ignoring me Penny Mac has a power of attorney auththorization allowing them to speak directly with my son, XXXX XXXX. I would prefer they speak with him from now on. It is too much stress on me to have Penny Mac ignore me and continue stall tactics. My son, XXXX XXXX, can be reached at ( XXXX ) XXXX
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| 06/26/2018 |
Yes |
|
- Trouble during payment process
|
|
Web |
Servicemember |
|
They mis-handled an extra payment I sent to cover for insurance rate increase. They were suppose to back it out, apply it correctly and then all would be fine. That was in XX/XX/2018. I have called every month after getting threatening letters, and they always say they will re-do it. The last time I called in early XXXX, they told me I was 2 months behind! My mtg pymts go out from auto-pay every month on the same day. I've never been late. They keep me on the phone for 2 hours, and then promise to fix it. But nothing changes, and I keep getting threatening letters.
I'm a XXXX veteran [ 100 % ] and part of my XXXX is XXXX. They keep me on the phone for so long it wears me down. I also have XXXX XXXX XXXX problems, so I can have a conversation and 10 minutes later I can't remember what was said. So I have tried to keep short notes of each of the last 3 months of calls. On XXXX XXXX, PennyMac responded to the Texas State Attorney Generals complaint I filed. Here is my note : XXXX : PennyMac called me XXXX XXXX. XXXX ext XXXX Dept : Priority Complaints. He advised me that he was recording the call, and when I told him I would do the same, he told me that XXXX would not talk on the phone with me if I recorded the call. I told him 3 times I would stop recording if he would answer my questions. He would not talk to me or answer any questions, and then hung up. I asked him if they were going to foreclose on my home and he would not answer that either. I asked him this question at least 3 times with me, and he would never answer.
This produces great stress with me. I really don't know what to do at this point. I'm afraid of becoming homeless.
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| 03/04/2020 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Applying for a mortgage or refinancing an existing mortgage
|
|
Web |
Older American |
|
I have an existing mortgage on a 2nd home in XXXX.thru XXXX XXXX. I am XXXX years old and have a credit score in the very high 700 's or low 800 's depending on the XXXX. I had no issues with qualifying and the refi required NO Appraisal or cash out of my pocket. Simply reducing the term and getting a better rate.
The problems started when the company / XXXX XXXX started saying the property had Liens on it, speciffically a line FOR my Primary home ( which was purchased years before this home ) and a Lien for a HVAC system that was installed on my primary home in PA.
After several weeks of back and forth including the submission of a XXXX document from the HVAC company stating o only is there no lien on the XXXX home there in no lien on the XXXX home as they are not capable of such an encumbrance, is is a personal loan. I also submitted a copy from the XXXX Recorders office as well as a private online title search that did not show any liens. Lastly I reached out to the Title Company who handled the closing on the XXXX property and they confirmed there is but one record for the original mortgage from 2018.
Still the insisted I must pay off or subvert these liens to move forward.
I feel they were purposely discouraging me from moving forward with the loan because of my age. I withdrew my application ( which they did with great speed ) as I do not feel they were honest and I foresaw grave issues if I moved forward with them. No one can be that incompetent incompetent and still be in business I have purchased 7 different homes in my life and never experienced any issues.
I am currently pursuing a refinance with another company.
|
| 02/24/2017 |
Yes |
- Mortgage
- Conventional fixed mortgage
|
- Loan servicing, payments, escrow account
|
|
Web |
|
|
My loan was sold to PennyMac by Company XXXX on XXXX XXXX, XXXX. I received two XXXX forms from both companies in XXXX XXXX. I found that mortgage interests received from borrowers ( the numbers in box XXXX ) add up not equal to the amount I have paid in XXXX.
So I reached out to Company XXXX, which explained to me what happened in their end and ensured me that their XXXX is correct.
Then I contacted PennyMac on XXXX XXXX. XXXX on the customer hotline ( XXXX ) did not listen, instead she gave me an ATTITUDE that " She knows her business, but I do n't know what I am talking about. PennyMac 's XXXX is correct! '' I requested her transfer me to another customer representative. This time, a lady called XXXX XXXX ( the spelling of her first name might be wrong, but it sounded like XXXX ) claimed that she is the supervisor. After I explained my case, she gave me the same ATTITUDE. She was firm that PennyMac 's XXXX is correct and PennyMac did not receive any additional money from Company XXXX on my behalf. Eventually we had a 3-party call with the mortgage staff from Company XXXX. Finally XXXX acknowledged that the mistake was on PennyMac 's side and promised me that I will receive an updated XXXX in 3-5 business days.
I waited till XXXX XXXX, but received no XXXX at all. So I contacted PennyMac again. This time, the customer representative, XXXX told me that ( 1 ) XXXX is NOT a supervisor ; ( 2 ) XXXX did not properly documented the case and their year-end team could not investigated into my case at all. So XXXX started over and we had another 3-party call with Company XXXX. Now I am waiting to hear back from their processing again.
|
| 11/17/2016 |
Yes |
|
- Application, originator, mortgage broker
|
|
Web |
Servicemember |
|
I applied for a refinance and it was consistently mishandled by the loan processor XXXX XXXX. When i applied for the loan with the loan officer XXXX XXXX he called customer service to stop my automatic payments that were being directly debited from my checking account. He gave me a closing date in XXXX. I was told that i would not make a mortgage payment for XXXX or XXXX and in XXXX my auto drafts would be turned back on by customer service. I was not notified of a closing date change. I was concerned because I did n't receive any closing information. On XXXX XXXX i emailed XXXX XXXX to ask what the status was she told me my new processor was XXXX XXXX. She forwarded my email to her. A week later she emailed me after my propose closing date and told me to make payments until i get closing documents in the mail. XXXX XXXX I contacted her asked for the status she told me my closing date was XXXX XXXX and not to pay XXXX mortgage it was already factored into the loan. She never contacted me to give me my new closing date. I informed her i already paid that month she advised my choices were to have my bank return the payment or they could return it after closing. I had the bank pull the payment back. I went To closing on the XXXX as planned. On XXXX XXXX they called and told me the loan was disapproved because i had a 30 day late on my account because my payment was returned. I would not have pulled they payment back if she did n't give me the option. I should n't have been given a 30 day late i closed before the payment was 30 days past due. She also told me the XXXX mortgage payment was already factored into the loan for the refinance.
|
| 02/28/2017 |
Yes |
- Mortgage
- Conventional fixed mortgage
|
- Loan servicing, payments, escrow account
|
|
Web |
|
|
XXXX, contracted with Penny Mac, which is in XXXX, CA and is not an institution, but a whole sale, only. This Penny Mac is a servicer and has been my nightmare since, XX/XX/2009. They have committed the following against me ... forgery, theft, threats, extortion, threats to foreclose, destroying the church checks, false allegations, mailing me a fake check, etc. They are savages and predators and extreme action needs to be taken. Again, I submitted another church check for {$240.00} for XX/XX/XXXX and my check for XX/XX/XXXX and my check cleared and they are claiming I did not pay for XX/XX/XXXX, either. Now they have me in foreclosure, due to their repercussions. The church is devastated, as this goes on every year and I have to battle with this Penny Mac. XXXX, is totally responsible for everything that has occurred against me. Then to top it all, now I receive a bill for two cents. Let them try to collect. The check for XX/XX/XXXX is the XXXX check. All they do is destroy the evidence. This is a yearly ritual with them.
The rage, depression and the migraines that these predators have caused me has been endless. I could go on and on. This has been years of XXXX. The only services that are offered, which are none, are blood on their hands and they speak with fork tongue.
The are anti social and savages and their are numerous law suits against them.
Today, I open my mail and after a month, they have the audacity to mail the church check back and now they want me to send them certified return receipt monthly? In their nightmare, they will. I have been in contact with legal and we will see them in court. The war is not over.
|
| 10/24/2017 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Applying for a mortgage or refinancing an existing mortgage
|
|
Web |
|
|
Hello, My issue with my mortgage company ( PennyMac ) is the process of removing the PMI from my mortgage. Penny Mac asks me to pay for the appraiser and they choose the appraiser who appraise my house. Last when I started the process to appraise my house, they scheduled an appraiser on XXXX XXXX 2017 to come to my house in which the appraiser did and he told me it takes him 2 days to complete the appraiser report and send it to the company. My house was appraised on XXXX XXXX 2017 and since then I have been calling PennyMac and was told they have not received the appraiser report from the appraiser, which contradicts what I was told by the appraiser himself.
Anyhow, I have called and kept calling Pennymac and keep getting the run around and wait on the phone for several minutes and then I get the message from them saying they ca n't do anything until the appraiser report come to their office.
Currently the prices of my homes in my community has raised significantly to the point that I should have an equity to remove the PMI from my mortgage, and I believe PennyMac is trying to dictate the outcome of the appraiser since they do not want to disclose it to me after nearly a month of the appraiser date.
Also I think mortgage companies should not dictate what appraiser company should be used as long as it is a certified appraiser by the state where the property is located.
Please let me know how I can get my appraiser report from PennyMac since I am paying for it. And how can I get rid of the PMI from my Mortgage since I met most of the PMI regulations as I read it on your web site.
I appreciate all your assistance.
|
| 11/03/2021 |
Yes |
|
- Applying for a mortgage or refinancing an existing mortgage
|
|
Web |
|
|
I called PennyMac to look into a refinance. I was in luck! I was able to refinance from 3.75 to 2.625. All was good.
I started the process with XXXX XXXX, XXXX. Filled out all initial paperwork and provided all requested documents.
The issue began on Friday, XX/XX/2021. I was called by XXXX ( PennyMac ), and was asked to pay the {$100.00} fee to get the appraisal and everything started. I gladly provided him my debit card information, and he confirmed the {$100.00} transaction was completed and we were good to go.
Saturday morning, I was informed by my Wife that we are missing our last {$100.00} in our account, and said I told her that PannyMac was only taking out {$100.00}.
Come to find out, PennyMac made 2 transactions into my account for {$100.00} each.
My account only had {$200.00} to begin with. I was to have {$100.00} left for gas for the week. They took everything I had.
I emailed XXXX on Sunday as I knew all businesses were closed. I asked him to have it corrected ASAP.
Today I am filing this complain on Wednesday, XX/XX/2021 as my money has not yet been returned, and my XXXX XXXX children had to call into work last night as I was not able to pick them up after their shifts. My family is now incurring financial damages due to an error that obviously has no controls or protections around, nor any escalation or resolution procedures.
As of now, I am sitting with {$1.00} in my bank account and my Wife may not be able to go to work tomorrow either. She is very upset and it is causing emotional distress for her and myself and my children. This has to be stopped so it can never happen to anyone again.
|
| 12/11/2022 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
|
- Incorrect information on your report
- Account information incorrect
|
|
Web |
|
|
This problem began last year towards the end of XXXX. I saw my score drop almost XXXX points & knew something was wrong. Our mortgage company had falsely reported us missing a payment, so now I had an account in delinquency & for the first time ever : less than 100 % payment history. Immediately, we tried disputing this bc we knew it was incorrect. We got married last year, earlier in that same month, and we were actually ahead on our mortgage cause we paid more than we needed to that month or the month before ( just to be safe, since weddings can get expensive ). Neither the credit reporting agencies or our mortgage company have taken this error off my report since it happened, even though we have confirmed with our mortgage company that we didn't miss any payments & that our account is up to date. They've made this mistake multiple times since then, so much so, it now shows up as 3 missed/late payments. Since this happened last year, I've lost upwards of $ XXXX in credit card limits bc they would check my report, see the " delinquency '' and lower my limit, then my score would lower bc my utilization was higher ( due to the lower limit ) & when they'd check again routinely, they'd see lower score + " delinquency '' still & lower my limit AGAIN. I've been stuck in the financially debilitating cycle for over a year now & disputed time & time again thru XXXX XXXX with XXXX & XXXX no one will correct the errors. We have spoken to our mortgage company so many times now about this issue & I still can not understand why they won't correct their own error since our account is in good standing/we 're ahead on our loan/etc.
|
| 11/22/2019 |
Yes |
|
- Trouble during payment process
|
|
Web |
|
|
PennyMac USA simply refuses to post our escrow shortage payment in full check to escrow followed by 2 monthly payments since - They've applied them to principle only causing fee 's to be charged - Our first message started on XX/XX/2019 with many messages and phone calls since up to now ( XX/XX/2019).
This is the latest message/request we made to PennyMac USA : Please remove the fees of {$79.00} from our latest statement (XX/XX/XXXX ) Please note - ALL past payments have been marked ( in memo ) where to have been applied.
Please post our XX/XX/2019 check for {$1800.00} to XX/XX/2019 Payment - The XX/XX/2019 payment of {$1600.00} was marked to be applied to XX/XX/XXXX Escrow Escrow Analysis ( option B ) which paid the Escrow shortage in full ( please correct the payment and post it to Escrow ).
The XX/XX/2019 payment of {$1800.00} payment was for XX/XX/2019 Payment ( {$1800.00} ) based upon XX/XX/2019 Escrow Analysis and fact we did option B on the XX/XX/2019 Escrow Analysis - paid shortage in full ) - Please NOTE, our XX/XX/XXXXpayment ( XX/XX/2019 payment of {$1800.00} has NOT been posted correct either, please do correct this ).
Our monthly payments should be only {$1800.00} as we PAID IN FULL our escrow shortage XX/XX/2019 with the payment of {$1600.00} - Yet our payment still shows as $ XXXXish with both payments ( XX/XX/XXXX and XX/XX/XXXX payments ) posted wrong.
Please I've been asking for over a month now, I've made several phone calls, I've taken a couple of collection calls now as well - PLEASE correct how our payments have posted - There is no way making these simple corrections take months ...
|
| 12/31/2020 |
Yes |
|
- Struggling to pay mortgage
|
|
Web |
Older American, Servicemember |
|
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.
|
| 06/02/2022 |
Yes |
- Debt collection
- Mortgage debt
|
- Took or threatened to take negative or legal action
- Seized or attempted to seize your property
|
|
Web |
|
|
I am consumer XXXX XXXX and my federally protected rights have been violated by PENNYMAC LOAN SERVICES. I do not have a contract with PENNYMAC LOAN SERVICES. I've requested that PENNYMAC LOAN SERVICES send the FORWARD FLOW AGREEMENT BETWEEN THEM AND XXXX XXXX. I've demanded that PENNYMAC validate this alleged debt pursuant to 15 U.S.C. 1692g, and to verify alleged debt with sending the name and address or original creditor. PENNYMAC has not done the things listed above. I demanded proof of PENNYMAC giving me a loan.
PENNYMAC LOAN SERVICES has not given me my right to rescission under 15 U.S.C. 1641 ( c ) of a transfer of loan. Under the CFPB 1026.23 Right of rescission has to be given in a consumer credit transaction. PENNYMAC IS IN VIOLATION OF THESE SECTIONS.
PENNYMAC LOAN SERVICES has continued to harass the consumer for payment and threatened me to seize my consumer property on XX/XX/2022, which is false misrepresentation pursuant to 15 U.S.C. 1692e ( 4 ). PENNYMAC LOAN SERVICES has sent unknown individuals to my property without my consent to harass and violate my individual privacy of the consumer. I serviced PENNYMAC LOAN SERVICES a CEASE AND DESIST and they persist to harass me as a consumer and natural person not obligated to pay any debt not owed. PENNYMAC LOAN SERVICES is a third party debt collect and must abide by the Fair Debt Collection Practices Act, & Truth in Lending. PENNYMAC LOAN SERVICES has failed to properly respond to my AFFIDAVIT OF TRUTH IN WHICH LEGALLY HAS TO BE ANSWERED BY AN AFFIDAVIT OF TRUTH AS WELL. PENNYMAC HAS SENT COPIES OF A CREDIT TRANSACTION THAT THEY WERE NOT PRESENT FOR.
|
| 06/16/2015 |
Yes |
|
- Loan servicing, payments, escrow account
|
|
Web |
|
|
PennyMac purchased my mortgage from my original lender a few months after I purchased my home in late 2013. Since then I have experienced numerous issues with Pennymacs loan XXXX They overestimated in XXXX year and underestimated in the next year the amount of money I would need in escrow to cover my mortgage and property taxes. This put a significant strain on my finances when I realized that my new monthly mortgage payment would be nearly {$400.00} more per month than it had been at the origination of my loan and XXXX later my payment due skyrocketed from {$1400.00} a month to {$1700.00} a month. I was made aware of this a month before the new payment was due which is not a significant amount of time for any household especially a single income household. This put a significant strain on my finances. In addition I 've noticed in the last XXXX months that even though I mail my payments in a week to two before they are due, because of PennyMacs extremely slow payment processing times they always process my payment after the due date and punish me by charging me a late fee when it is not my fault. Even when I mail in the payment for the monthly payment and late fee the next month it will show that the late fee was never paid. When clearly the checks I 've been mailing are for significantly more than the minimum payment due. And I specify on most of the checks that the late fee is included. These predatory lending practices are unfair and I could see them leading to loan default for most consumers if an adequate financial cushion is n't maintained on a monthly basis to cover for Pennymacs deceptive loan practices.
|
| 05/15/2017 |
Yes |
|
- Trouble during payment process
|
|
Web |
|
|
I setup automatic payments with my mortgage company. These payments are setup to be withdrawn bi-weekly, resulting in 26 half payments, or 13 full payments, to be made each year. This is super convenient and I am satisfied with that. I am however concerned with the application of payments. Penny Mac withdraws these half payments themselves as I was told, during the setup process, that if I were to setup recurring bill pay payments through my bank, that when received they would likely be curtailed and this would require me to call EVERY month to have the funds reallocated. That sounded very inconvenient so I opted for their bi-weekly program. Although I find the process dated and silly at the dated technology abilities, I am overall somewhat satisfied. I do however have XXXX, in my opinion, very serious issue. The fact that they withdraw funds, like they did today, then hold the money for two weeks before there 's a benefit to the consumer seems a bit unfair, and frankly ridiculous. Questions ... where is the money sitting? in a bank account, accruing interest for the mortgage company? why do n't i see a benefit to that? why is n't the money applied to the account then? interest accrual, if i 'm not mistaken, it is based on the principal balance, is it not? so should n't the end result be seeing less interest paid over the life of the loan? unless it is not applied until 2 weeks after the company receives it ... I 'd like to better understand this and when I brought it up to their representative they told me there was nothing to worry about and that I did n't understand but offered XXXX explanation to remedy it.
|
| 04/26/2022 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Applying for a mortgage or refinancing an existing mortgage
|
|
Web |
Servicemember |
|
I had an appraisal completed on my residential home for a refinance XX/XX/2022. I decided once I received the appraisal that my financial goals would be better met with a different type of loan through a different lender. The new lender was okay with using the appraisal since it had been by a certified appraiser on their appraisal company 's list. The new lender asked me to obtain a transfer letter from Pennymac. I called Pennymac and was told that the appraisal could not be transferred because it was for a conventional loan. I was told that if it would have been for a VA or FHA loan, then it could be transferred. I e-mailed the loan officer the next day to ask if I could see PennyMac 's formal policy as it related to XXXX XXXX guidelines as to why it could not be transferred. I had researched XXXX XXXX guidelines which say appraisals can be transferred if lender it is being transferred to conforms to Appraisr Independence Rules. I have never had a response to the e-mail. I now have to pay full price for a completely new appraisal which is financially hard for me and will also now have to wait weeks to get a new one done which will also cause more hardship for me.
Pennymac is my current lender, where I have an interest rate of 2.5 % on my first mortgage. I believe they were not happy I did not complete the refinance into a higher interest rate of 4.25 % and this may be why they would not transfer the appraisal. Without being able to see the policy, I have no way of knowing whether what I was told is true or if Pennymac just didn't want to give me the transfer because I didn't follow through with the loan.
|
| 10/27/2021 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
Servicemember |
|
My current lender is PennyMac. I noticed in XXXX that PennyMac was taking a little over {$5.00} more than the authorized payment each month for about 6 months. I called them on XX/XX/2021 and asked them why they were taking extra. The lady said she could not see any reason. I asked her to stop taking the extra and she responded that the correction would go into affect on XX/XX/XXXX. I put the exact amount that was suppose to be taken out of that account and PennyMac tried to take out the extra AGAIN!
I called PennyMac and told them they owed me the {$58.00} in non-sufficient funds fees that my bank charged me, that they needed to remove all of their charges, and that I would not pay my XXXX payment until they did. They agreed to do so but did not send me the reimbursement until around XX/XX/XXXX. I paid my XXXX payment on notice that the check had been sent out and received the check around the XXXX of XXXX.
In the midst of all this, I was trying to refinance my home through a different company. Due to my payment being 30 days late they refused to refinance my home when all I had left was to close. They told me that if PennyMac would give me a letter explaining their failures they would refinance my house. PennyMac stated that they would give me a letter in 2-3 days ( by XX/XX/XXXX ) and I have yet to see such a letter.
I have also requested the transcripts of my phone calls with them from XX/XX/XXXX until XX/XX/XXXX and they have refused to comply with the Freedom of Information Act.
This has cost me much time, headache, a refinance, and the cash back on my equity! I want PennyMac to make it right!
|
| 05/11/2021 |
Yes |
- Mortgage
- Other type of mortgage
|
|
|
Web |
|
|
I refinanced my home loan with Penny Mac, the holder of the previous mortgage.
I settled that refi on XX/XX/XXXX.
The gentleman who came to my home to execute the settlement told me that I would have a six day period to rescind the agreement.I signed a disclosure that he kept. The copy of the same document in my packet was blank.
I called PennyMac on XX/XX/XXXX to rescind and could not get a call back. After four attempts, a PennyMac rep told me that I missed the rescind period by one day -- that yesterday, XX/XX/XXXX - was the " distribution day. '' I'm not sure what the " distribution '' was, since no money has appeared in my bank account as of today and the balance of a XXXX loan the PennyMac refi was supposed to cover had not been paid as of 6/11 either.
I also believe PennyMac is engaging in the following unethical practices : I learned ( too late! ) that they are charging about twice the average cost for a refi. I paid $ XXXX for a $ XXXX refi. I thought this was normal until I shared it with someone and they explained how crazy that was! I know it is a " buyer beware '' situation and I'm the XXXX who went in trusting folks, but still, it seems out of range that they should be able to charge that much.
PennyMac automatically " rounded up '' my refi loan by {$2000.00} ( cash back to me ) even though I did not request this at any point. When I asked why I was getting $ XXXX back nobody could explain it beyond saying " Sometimes it just comes out like that ... '' Do I have any grounds for having this refi reversed, or am I stuck at this point?
Thank you for any help you can provide!
XXXX XXXX
|
| 03/08/2023 |
Yes |
|
- Trouble during payment process
|
|
Web |
|
|
My loan was originated with XXXX XXXX on XX/XX/XXXX. The servicing was sod to PennyMac. In XXXX I checked my escrow after receiving my tax statement and made them aware that I had changed to 4 % tax status. At the end of XXXX I received my refund. I received a letter from PennyMac stating I had no insurance on my home and it would be forced by The lender if I did not prove coverage. I called my Insurance agent and we started the process. On XX/XX/XXXX I was notified by my agent that the insurance had to be paid today or coverage would be declined again. I spoke to 4 different people about this and finally XXXX was helpful and called the Insurance company on a 3 way and helped me handle it.
The complaint is that because when PennyMac took over servicing they did not contact the Insurance company and change the Mortgage E Clause and this caused the insurance to be declined. I have heard this from several people/friends. One of which PennyMac forced insurance and it was because XXXX XXXX sold her loan to PennyMac. I am concerned that this is a pattern. I checked the internet and it is the responsibility of the new servicer ( PennyMac ) to notify the Homeowners insurance company and change the Mortgage E clause.
I am in the Mortgage industry so I understand where the problem lies. I am concerned with other borrowers that do not know the process having increased premiums/monthly mortgage payments that they can not afford. It took me 1.5 hours to correct this. What about the borrowers that can not take time from work to handle this?
I appreciate your time and I hope that this will not affect anyone else.
|
| 03/03/2021 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
|
|
We bought a new house in XX/XX/XXXX using the mortgage company with 5 % down and a PMI payment called XXXX XXXX Mortgage XXXX based XXXX CO, which was an absolute nightmare. ) The mortgage was sold to XXXX in early XXXX. On XX/XX/XXXX I made a huge payment to bring the XXXX below 78 %. As a courtesy I contacted XXXX to let them know that the loan was now below 78 % and that they were required by law, and by contract to automatically remove the PMI. XXXX XXXX Mortgage XXXX had advised us to do this, since we were selling houses and would have money to pay the mortgage down. They also said we would get a lower interest rate if we had PMI to start the mortgage. ) Note there will be another huge payment in the upcoming days/weeks. The first response from XXXX was I would need to contact them in 14 days to remove it. Note : By law and contract they are to automatically remove it. I don't actually need to ask them to, because it went below 78 % XXXX of the original purchase price, not 80 %, in which I would need to ask them. I let them know that they were required to automatically do it and I did not need to tell them to do it. They then told me that they can take 30 days or more to remove it, which could mean I pay PMI at least XXXX month more than I am required to since the loan is now below 78 % XXXX of the original loan amount and considering the real estate market in XXXX the value has not gone down. I also requested in writing that they provide me a complete list of all organizations that regulate them. They said I should sent my complaints to their compliance department and refused to provide me a list.
|
| 09/08/2015 |
Yes |
- Mortgage
- Conventional fixed mortgage
|
- Settlement process and costs
|
|
Web |
Older American |
|
We recently refinanced our mortgage loan to remove the need for monthly mortgage insurance. During the escrow period, we received XXXX a Good Faith Estimate and a HUDXXXX settlement statement of all closing costs ( neither of which mentioned anything about an XXXX certificate needed with a cost of {$70.00} XXXX. We also never received any communication from our Lender explaining to us about this cost which could also have been paid for outside of escrow.
After escrow closed, we received a prompt payment check for the balance of funds to be paid to us as a result of the cash out refinancing. It matched the amount from the HUDXXXX settlement statement.
About XXXX weeks later, we received a surprise late notice of payment from our XXXX for the amount of {$70.00}. I called them to find out what this was about, and I knew it could n't relate to our XXXX dues ; since we have an automatic debit from checking set up to pay for that. They explained that they received the request from a Lender for an XXXX cert and sent me an email with a copy of all the paperwork that was faxed back and forth attached, and that they never received any payment to apply to our XXXX account.
I then contacted our Lender and left a voicemail with our loan rep 's supervisor ; since neither one could be reached live on the phone. I also forwarded the email from my XXXX with the attached fax documents to them. After being told it would be forwarded to a manager for review, I have not heard anything back for XXXX weeks.
I feel that this will not be resolved unless your agency gets involved to get an action response from the Lender.
|
| 09/22/2020 |
Yes |
- Debt collection
- Mortgage debt
|
- Attempts to collect debt not owed
- Debt was result of identity theft
|
|
Web |
|
|
Dear CFPB, Please find my complaint against PennyMac who pretends to be a " servicer '' for some non-existing Trust, and the owner of my " debt '' which they " purchased '' from some secretive source which nobody can identify.
Please also find my complaint against XXXX XXXX XXXX XXXX XXXX a previous Servicer. I demand identification of the party who maintains an asset account consisting of my alleged loan receivable as an asset and who maintains escrow accounts and pay property taxes.
Since XX/XX/XXXX PennyMac refused to provide me ANY information related to their purported ownership of my loan which PennyMac purportedly purchased from someone whom nobody cans identify.
PennyMac also pretends to maintain my escrow account where PennyMac collects my money to suppose pay taxes and property insurance.
In fact, PennyMac does not pay my taxes and I suspect they do not pay my property insurance as well.
I went to my local Treasurers office in XXXX XXXX and asked treasurer XXXX XXXX to verify if PennyMac paid my taxes.
Treasurer XXXXXXXX did not had any records about PennyMac paying my taxes.
Neither PennyMac or XXXX never provided me ANY receipts of their payments for my taxes and insurance from my escrow account I demand PennyMac and XXXX to provide me copies of ALL receipts for their payments of my property taxes and home insurance, beginning from XX/XX/XXXX to present time.
Please also provide me the name and contact information if the person who is/was responsible for bookkeeping records and escrow accounts at the Company ( s ) from XXXX XXXX ( at XXXX ) and XXXX-present time at PennyMac.
|
| 09/12/2018 |
Yes |
|
- Trouble during payment process
|
|
Web |
|
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Could you please assist me with rectifying, according to law, how a mortgage Servicer/Lender can require me to pay for a hazard policy that was never forced placed?
As background, on the XX/XX/XXXX I close on my house which was originally financed by XXXX. XXXX. At closing I paid for a full year of Hazard Insurance coverage ( set to expire XX/XX/XXXX ). Before my first mortgage payment was due, PennyMac bought my loan from XXXX. XXXX and since I have been making payments to include escrow for hazard insurance.
To my surprise, on the XX/XX/XXXX I received a call from PennyMac informing me that my hazard insurance policy was cancelled. Which was discovered by PennyMac when they made contact with the insurance carrier to renew the policy. I immediately called my insurance company only to confirm the bad news. Since I have found a new policy and informed PennyMac to pay for my new insurance out of the escrow account. PennyMac took care of the new policy and went on thinking everything was back to normal ... or so I thought.
XX/XX/XXXX, I received a letter from PennyMac asking me to provide proof of insurance for the time frame when the policy was cancelled or they will buy insurance for approximately {$2000.00} and will take it from my escrow. This is bizarre, I question how can a servicer/lender require a borrower to pay for insurance premiums when there was no forced/lender placed policy to justify the premium. I called a few agency to see if I can buy insurance for a period that's in the past and I was told that's illegal and impossible. Now, how can PennyMac buy coverage for a period in the past?
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| 08/24/2021 |
Yes |
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Web |
Servicemember |
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I was looking at refinancing my existing loan with the same company. This started at the beginning of XX/XX/XXXX. When it got to the closing disclosures to sign myself and my spouse looked over the documents prior to signing and the numbers looked off and we tried to ask them but they did not explain it well and went in circles making it more confusing. Because of that we chose to take the closing disclosure to two other people who process mortgage loans and they both explained it easily to us and that the numbers did not match the interest rate they were providing. After that we chose not to go through the refinance with the existing company. I politely told the loan officer that we were no longer interested and they sent another email to get us to sign the documents. I again responded that we were not interested in refinancing. They responded that they didn't understand why and tried to explain their numbers again which I replied we were no longer interested and to cease communication regarding it and that any further communication regarding the refinancewould be considered harassment. We then got a call from them to schedule time to go over and sign the closing disclosure to which I responded that it was already stated we were no longer interested and it was now harassment. We got another call from the same person to go over the closing disclosure and I responded again that it was harassment and that we had already requested the loan be declined. On Tuesday XX/XX/XXXX we received a copy of the closing disclosure to sign and return that was dated XX/XX/XXXX after we had told them to decline the loan.
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| 07/21/2015 |
Yes |
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- Loan servicing, payments, escrow account
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Web |
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My mortgage company marked us late to the credit bureau for XX/XX/XXXX for 30 days and for XX/XX/XXXX for 60 days when we paid both months on time. We entered into an approved loan modification loan that started XX/XX/XXXX to XX/XX/XXXX. We have statement that show we paid every month on time. In XX/XX/XXXX my mortgage company PennyMac said the Loan Modification Dept. had not finished the paperwork, so to pay the same modification amount for XX/XX/XXXX, which we paid on time. XX/XX/XXXX at XXXX we received a XXXX package with our loan modification paperwork saying to sign and return them by XX/XX/XXXX. I called and PennyMac said to take a week or so to review and then sign and XXXX back as we did. I called in XX/XX/XXXX to make a payment and they said since the modification was finalized XX/XX/XXXX. they did n't expect us to make a payment, that month was rolled into the new loan modification. I was told to make the next payment in XX/XX/XXXX, which we did on time.
A Rep. at PennyMac sent us a letter saying we were not late in XX/XX/XXXX, but said they would not remove XX/XX/XXXX late reporting. I sent her letter to the credit bureaus and received a letter saying PennyMac said they did n't send the letter.
I have PennyMac statements showing I paid every month on time. I also have the letter from PeenyMac saying they were in error marking us late for XX/XX/XXXX. Also the paperwork for my new mod loan.
I 've sent several emails to PennyMac, which I have copies of from their website. I 've spoke to several reps. Who have incorrect information and I 've faxed all my paperwork to them.
Please help.
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| 06/07/2023 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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Dear Sir/Madam, I contacted Pennymac on XX/XX/XXXX, to request the removal of our escrow account. Unfortunately, my request got denied via email on XX/XX/XXXX. When I called Pennymac on XX/XX/XXXX, to inquire about the denial, a representative informed me that the LTV was 71 % when it should have been 70 %.
I asked the representative about the value used, and they informed me that an appraisal from XX/XX/XXXX was used, which showed the value at approximately {$600000.00}. However, I informed them that we had recently had our home appraised by a licensed professional, and it was valued at {$980000.00} due to some major upgrades we had done in the past few years and other outside influences of the market. I emailed them a copy of the new appraisal the same day.
Despite this, I received another denial for the removal of escrow on XX/XX/XXXX, citing the exact reason for the minimum current and original loan-to-value ratio needing to be met. When I called Pennymac again, the representative informed me that they didn't know why Pennymac was still using the old value, as the denial letter mentioned the minimum current value. The representative couldn't provide me with the minimum present value used, as they didn't use any current value ; they only based their decision on the original value from XXXX. And when I asked her what can be done to help me she just hung up on me and never called me back.
I have attached copies of both denial letters for your reference and a current copy of the appraisal that I submitted to Pennymac but refused to review.
I am contacting the CFPB, hoping they can assist me.
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| 02/10/2023 |
Yes |
- Mortgage
- Conventional home mortgage
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
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On XX/XX/2023, Pennymac contacted me proactively, because they had received an alert from XXXX that I had listed my property for sale, and they wanted to assist with any new financing or refinancing I needed.
However, I had not listed my property for sale. There is no active XXXX listing on my property. I immediately became concerned that someone was committing a scam to defraud both me and Pennymac. I asked to speak to someone in their Cyber or Fraud department. I was transferred three times, but no one knew how to handle the concerns that a ) they had received a sales lead with false and fraudulent information or b ) how to identify and protect their customers who may be the victims of such fraud.
None of the four Associates knew how to escalate or handle the suspected scam. None offered any recourse to me to counteract the potential listing of my property, nor to protect their institution from losses related to my account. When the fourth Pennymac associate could not assist, I asked if I could at least create a complaint.
As a tenured employee of another financial institution, I am concerned that Pennymac does not have the procedures or processed in place to identify, flag, and respond when they or their customers are the potential victims of fraud. I am also concerned that they do not have the procedures in place to identify when they have purchase fraudulent leads and may take action on the fraudulent leads, leading to additional risk in their loan portfolio. I am concerned that this ineffectiveness could lead both to loan losses for Pennymac and financial losses for their customers.
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| 12/05/2018 |
Yes |
- Mortgage
- Conventional home mortgage
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- Struggling to pay mortgage
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Web |
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PennyMac HAS engaged in the prohibited practice of dual tracking while having received timely all the required documents and financial information from the borrower requesting a loan modification.
PennyMac has failed to deliver required foreclosure protections.
PennyMac is using faulty information in the servicing of this mortgage loan.
Please see attached letter correspondence dated XX/XX/XXXX, from the mortgage servicer, PennyMac Loan Services.
The CFPB issued amendments on XX/XX/XXXX, The rule issued establishes new protections for consumers, including : Requiring servicers to notify borrowers when loss mitigation applications are complete : Whether a borrower is entitled to key foreclosure protections depends in part on the date a borrower completes a loss mitigation application. If consumers do not know the status of their application, they can not know the status of those foreclosure protections.
The final rule requires servicers to notify borrowers promptly and in writing that the application is complete, so that borrowers know the status of the application and have more information about their protections. The CFPBs new rule clarifies that, if a servicer has already made the first foreclosure notice or filing and receives a timely complete application, servicers and their foreclosure counsel must not move for a foreclosure judgment or order of sale, or conduct a foreclosure sale, even if a third party conducts the sale proceedings, unless the borrowers loss mitigation application is properly denied, withdrawn, or the borrower fails to perform on a loss mitigation agreement.
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| 02/28/2022 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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Mortgage servicer ( Pennymac ) is in clear violation of 12 CFR 1024.17. Pennymac is illegally withholding a significantly larger tax escrow payment then allowed under 12 CFR 1024.17 ( c ) ( 1 ) ( i ). I contacted Pennymac in XXXX and XX/XX/2022 and they have failed to reduce my monthly escrow payment, even though documentation was submitted to Pennymac to support the correct escrow amount.
The loan originator estimated my annual property taxes at {$14000.00} ( {$12000.00} annual taxes + {$2000.00} selected reserve ). The monthly escrow payment is {$1000.00} of which approximately {$1000.00} go towards the estimated tax payment.
The 2022 actual tax amount is {$5200.00}. Pennymac has knowingly collected at least 238 % of my actual annual tax payments. Under no circumstance is Pennymac 's escrow analysis reasonable, nor consistent with 12 CFR 1024.17 ( c ) ( 1 ) ( i ) or ( c ) ( 7 ).
As this property was a new build, the Loan Originator and Pennymac have an obligation to " In cases of unassessed new construction, the servicer may base an estimate on the assessment of comparable residential property in the market area. '' 12 CFR 1024 ( c ) ( 7 ). Armed with appraised value of {$740000.00} and known published millage rates for the areas, the Originator grossly failed to comply with 12 CFR 1024 ( c ) ( 7 ) by estimating an outrageous home value or clearly wrong millage rate.
My mortgage payment is approximately {$700.00} higher than it should be, solely due to this escrow issue. Pennymac refuses to update my escrow account and return to me the monies that they are in illegal possession of.
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| 12/06/2019 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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I bought my property in XXXX and had HOA3 insurance on it with XXXX XXXX, through XXXX XXXX. In XXXX they withdrew from Florida.
XXXX XXXX got me XXXX XXXX in XXXX and they withdrew my insurance policy after non payment in XX/XX/XXXX. I used to call the various reps at Penny Mac and asked why I was paying so much. They were dismissive. In XXXX I found out that Penny Mac imposed Lender Placed Insurance and had not paid XXXX so XXXX XXXXe got me new insurance coverage.
I was speaking to a specialist called XXXX, who Penny Mac appointed after my complaint and I have left a few messages for her a few weeks ago and not heard back from her.
XXXX had mentioned that every time I put something in writing it just complicated matters, but after not hearing back for a period now I am hoping that this can be resolved quickly.
I am looking for the difference returned on what I should have paid and not the additional {$12000.00} Penny Mac chose the impose.
I still live in the same house. I was insured with XXXX XXXX at the time and then when XXXX XXXX withdrew we went to XXXX XXXX. After the Penny Mac debarcle XXXX 's found me new insurance.
I have had HOA Insurance until XXXX when my HOA got insurance.
When I spoke to XXXX at Penny Mac she seemed like she wanted to help me. Her research department said that they had not received an invoice from XXXX XXXX.
I spoke to XXXX XXXX and XXXX sent me an email after speaking to me and said that their policy is to call for payment. Penny Mac did not send the money to XXXX and for whatever motive imposed their lender placed insurance on my property.
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| 05/15/2023 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
Servicemember |
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On XX/XX/XXXX, I sent an email to PennyMac after speaking on the phone with one of their representatives that I would be able to recast my hone loan with them. I received a written response from PennyMac once again advising the steps I needed to take to recast my loan.
On XX/XX/2023 I wired {$170000.00} to PennyMac for the recast. The money was received the same day by PennyMac and they updated my online account to reflect " Principal Recast/Principal Reduction. '' I thought we were finished with the transaction and the recast was complete.
On XX/XX/2023, I received an email through PennyMac 's secure Message Center that said that my loan was not eligible for Recast because my transfer " must align with the investor provisions. '' Not knowing what that was, I called PennyMac 's Customer Service line asking why they told me I could recast my loan both over the phone and in writing and then once they had my money, they told me I couldn't. '' No one could give me a straight answer over the phone but advised that they would escalate the return of my money. I told them I wanted my funds wired back to me immediately, as they were making money off of my funds by holding onto them. The phone agent agreed. I hung up with them but have still not received the wire of my funds back. I have called and requested to speak with supervisors and am constantly denied access to speak with one without waiting on the line for hours. PennyMac is illegally holding onto my life 's savings and are doing nothing to expedite their return to me after providing me with false information regarding my recast.
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| 11/17/2019 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
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- Incorrect information on your report
- Account information incorrect
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Web |
Servicemember |
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In XXXX of 2019 my mortgage jumped {$750.00} without explanation or notification from PennyMac. I was told some estimated taxes were recalculated and my homeowners insurance increased. They recalculated my taxes over the phone and the monthly payment dropped by {$440.00}. I was told to wait to pay my payment until I called XXXX ( homeowners insurance ) to see why my monthly premium increased. I contacted XXXX and the issue was resolved. PennyMac told me it would take 7 business days before PennyMac and XXXX communicated and the issue would be resolved. This took us in to XXXX and I still had not heard from PennyMac, so I called them. They initiated a 3-way call between XXXX, PennyMac, and me. Everyone communicated and the issues were solved. At the end of the call I paid the corrected amount for XXXX.
Fast forward a couple weeks and I get a notification that my credit score dropped significantly because PennyMac reported me late on my XXXX mortgage payment.
A subsequent phone call started the process of correcting the error. The following day I received a call from PennyMac stating they made an error and they would be refunding the late fee I was charged for XXXX. The call was cut short but I did not get an answer about the incorrect reporting to the various credit bureaus. When I called back I was told if they were to go back and report that they incorrectly reported me late, it would be a big deal, and negatively impact their company.
I need help correcting this error, because PennyMac refuses to fix it, and I'm just one person against a multi-millions dollar company.
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| 07/23/2019 |
Yes |
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- Struggling to pay mortgage
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Web |
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I lost my job back in XX/XX/XXXX, I was still able to make my payments online up until XX/XX/XXXX, I made a payment to a woman at the mortgage company 1 card was charged for XXXX the other debit card was charged for the remaining balance. Also in XXXX i sent them XXXX but that money is no ware to be found But they charged me a late payment and also a returned check fee, but never returned my money to me i began to fall behind on my payments. In their paperwork they state that unless you have full payment any other amount will not go toward the bill.Even their own statements do not match the form they sent me for my taxes. Then they sold the contract to the company i currently have. Whom i have also tried to get a loan mod. with to no avail. This new servicer is not the greatest either i can never get ahold of their lawyer nor do i get a return call. At the b.k. court they falsified numbers they charged me interest on XXXX stating that was my payment the entire duration of my loan. That payment was only that high for a few months it was even for a while at XXXX. Then when i tried to get a loan modification this last time, they mailed to me my denial letter that i received on the XX/XX/XXXX Then on monday the XX/XX/XXXX, mail come 's to my house around XXXX a welcome packet from XXXX stating that they need a few more papers from me but that everything has to be submitted by XX/XX/XXXX. So how can that work they are already closed and the day i received the mail that shows the date mailed as the XX/XX/XXXX i have to have everything turned in or else my home go 's up for sale.
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| 11/29/2019 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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Company name : PennyMac Loan Services LLC Problem : I closed out the loan with PennyMac in XXXX. Pennymac also pulled in the automated payment for month of XXXX. So, double interest was charged for month of XXXX. I have been trying to get a refund on the money since then to no avail. Following is the call history : XXXX XX/XX/XXXX - 28 mins - They can not find the records and need to check with people again to return the money.
XX/XX/XXXX - 46 mins - Was told that there was a delay and the funds will clear in another week.
XX/XX/XXXX - 22 mins - Was told the the funds will release in a week.
XX/XX/XXXX - 24 mins - Was told that the funds will be released in 2 days XX/XX/XXXX - 46 mins - Agreed that the money was owed.
XX/XX/XXXX - 11 mins - Said will call back as there seems to be an issue but never got a call back XX/XX/XXXX - 43 mins - Disagreed that double interest was charged XX/XX/XXXX - 18 mins - Disagreed that double interest was charged XX/XX/XXXX - 40 mins - Disagreed that double interest was charged XX/XX/XXXX - 20 mins - Disagreed that double interest was charged XX/XX/XXXX - 29 mins - Disagreed that double interest was charged XX/XX/XXXX - 22 mins Incoming : XX/XX/XXXX - 8 mins - Requested bank statement to for confirming the funds cleared from my account XX/XX/XXXX - 4 mins - Confirmed that funds will clear XX/XX/XXXX - 4 mins - Confirmed that funds will clear in another week.
===================================================== I have tried my best in good faith to get the money back from PennyMac but to no avail. I went them to refund back my money.
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| 08/18/2017 |
Yes |
- Mortgage
- Conventional home mortgage
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- Struggling to pay mortgage
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Web |
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In XX/XX/XXXX my now XXXX mother needed my help to refinance here home.So I helped her and I became part of the mortgage loan.At that time XXXX XXXX was the lender.In XX/XX/XXXX I had a new child born that was born XXXX. I was then forced by family court to illegally pay child support for my children in which they were living with me. With this illegal act my credit was ruined for not being able to pay for credit issues I had beforehand.Mostly all the credit companies I owed sent me to collections and they were seeking garnishments for not being able to pay.In XX/XX/XXXX, my mother passed away and I had to submit her death certificate to XXXX XXXX.After I submitted my mother 's death certificate XXXX XXXX quickly sold the loan.Keep in mind that my credit was destroyed when the mortgage was sold to PennyMac.PennyMac received a mortgage without investigating my credit as a borrower.So they tried to foreclose on the property because of their improper practices.I got the house out of Foreclosure in XX/XX/XXXX and in XX/XX/XXXXbecause of unfair practices by PennyMac.In XX/XX/XXXX the property needed serious roofing repair while I was in foreclosure repair.Their lender placed insurance company XXXX sent out their inspectors and agreed to do the repairs.After {$42000.00} worth of repairs was done to the property while going through foreclosure repair they denied the claim and left me to pay the bill with destroyed credit.Garnishments started coming out of my check and I Have n't been able to even eat or pay my mortgage.This is a very sick situation to live under please Help!!!
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| 05/21/2021 |
Yes |
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- Struggling to pay mortgage
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Web |
Servicemember |
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I was behind a couple of payments with PennyMac but I was always in communication with them and had future payments set up to get caught up. I am a service member who was XXXX in XXXX and they knew that and used to send correspondence to my box overseas. But on XXXX this company did a lot of things without telling me. I was NOT on foreclosure and suddenly they decided to have a third party company to do an inspection at my house. This company broke inside my house with the excuse they want to winterized after the winter was over. They demaged my door, my walls, stole items from me and left my house dirty and locked me out of my own house putting a lock on the door. and when I contacted pennymac asking why I was not informed about this inspection they stated I was behind a payment and they have the right to do any inspection they please. I disputed that because no one can come unannounced to my property, damaged and steal my personal belongings, took the water meter, disconnected my services cancelled my insurance and put stickers on my door that resembled foreclosed homes which embarrassed me a whole lot. After they sent a letter to the insurance company to tell them to cancel the insurance they started sending me letter stating I didnt have insurance which they cancelled performing such acts of disregard on peoples houses. and they knowing I was overseas with the military said my house was vacant. And they will continue to come in and do as many inspections as they want. This company has no respect for its customers and will use military work against military members.
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| 04/27/2021 |
Yes |
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
Servicemember |
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To whom it may concern : I am a XX/XX/XXXXAmerican XXXX XXXX veteran. The problem started in XX/XX/2021 with PennyMc Loan services. I currently have my VA loan through them and they kept calling me for a VA re-finance so I applied and they were completely incompetent and awful. They repetitively were asking for documents from me from 13 years ago. I spoke with a supervisor and he said it was a mistake and they would stop and the never did. I emailed the processors over and over at least 25 times over the course of 3 months and got reply a week later each time that was just asking for thee same nonsense. It was a constant barrage of them asking for more paperwork that was so many years ago years that was paid off and I did not have proof of. The harassed my wife for paperwork IRS transcript when she gave them proof she filed and copies of cancelled checks. They kept yo-yoing us asking for paperwork that we did not even have to provide when we bought our home. The whole process made no sense and they made it so difficult that finally I could not take it anymore. A friend told me to try quicken VA refinance and it was so different of an experience.
They gave me a rate that is a full 1 % less that PennyMac and in one afternoon I had satisfied all the paperwork requirements. They said they did not need to see paperwork from 13 years ago and my wife did not have to provide anything to them for the loan. I just want to warn prospective Veterans that Penny Mac is an awful experience and ultimately will rip off Veterans.
Thank you and XXXX Bless America, A Fellow XXXX Vet
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| 10/14/2023 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
- Escrow, taxes, or insurance
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Web |
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We purchased home in XX/XX/XXXX. The house was XXXX until the end of XXXX. Pennymac knew this. XXXX Taxes were unavailable to Pennymac and myself until XX/XX/XXXX. In XXXX XXXX Pennymac was unable to collect tax bill due to TBA so they sent me notification that they were unable to do so at that time. I have been paying into my escrow every month, doing my part of the obligation. Pennymacs obligation is to pay the taxes from my escrow account. I assumed in XX/XX/XXXX when XXXX tax bill became available that Pennymac would pay it because the loan agreement said that and the Pennymac app said it would. However, Pennymac never paid the taxes. They did not notify me that they didnt pay the taxes until XX/XX/XXXX. Due to the delay, the account accrued penalties and fees. I was unable to pay for those taxes because that money was in the escrow account. Pennymac was obligated to pay them and they didnt. I finally was able to get Pennymac give me the money from my escrow so I could pay taxes myself. I then had to pay the fees and penalties that accrued. I asked Pennymac to reimburse me given they did not do their obligation but they refused. They said because they sent an email in XX/XX/XXXX saying they couldnt pay tax bill yet, that that absolved them from paying the taxes and it was now on me to figure it out. Again the loan agreement clearly states Pennymac pays on borrowers behalf. They treated me unprofessionally. Due to this issue we have struggled financially as the penalties and fees were significant. This was clearly a breach of contract and obligation by Pennymac.
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| 09/14/2021 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
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- Incorrect information on your report
- Account status incorrect
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Web |
Servicemember |
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On XX/XX/XXXX, I paid off a {$230000.00} mortgage loan to Pennymac. Since XX/XX/XXXX, my mortgage had been in forbearance. The forbearance plan was to expire in XX/XX/XXXX. The loan was paid off before my forbearance expiration date and they have updated my credit in XXXX from 60 days late, starting in the beginning of the month, to now, with all 3 credit bureaus as 180 days late. All in XXXX single month. If I was 180 days late at any time, why is it in the remarks/ account status, but not reflected thru 6 months of late reporting to credit bureaus. The 180 days is only reported for XX/XX/XXXX. So what happened to the prior 5 months? I didnt know you could get marked 180 days late, for 1 month? It makes no sense! This is my second consumer complaint on Pennymac, since Ive been in forbearance. They are going to investigate this, and then proceed to lie, as they did previously. The have murdered my credit score, while in forbearance, but its like a scam. They report every month that you are late while in forbearance. The reporting, deducts from you credit score, but in the next month, these previous monthly marking disappear and appear to move to the next up coming month ( biggest scam ever )! So Pennymac is telling me, that maybe the late reporting may fall off my credit report in 2 months. What a joke!! So you mess up my credit score, mark me 6 months late in forbearance, all in one month, and you tell me, Lets hope it falls off in a couple months! I want my credit fixed now, right now. I will never return to this Mortgage Company EVER! Fix my credit please!
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| 04/08/2020 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
Older American |
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I contacted PennyMac on XX/XX/XXXX th approx for consultation on what would need to be done to eliminate the Mortgage insurance of {$60.00} per month. I was told that the Mortgage to value needed to be at 78 % in order to remove that insurance and that I was at approx 81 % ... that at the current rate the Insurance would drop off in 4 to 5 months. I asked if I paid additional principle with the next payment that would take me below the 78 % - would that do it. The appraisal at the time of the original load was {$280000.00} I was informed that it would, but to be certain that the Mortgage insurance was removed that I should call back and follow up after the payment. My wife added an additional {$1100.00} to the payment on XX/XX/XXXX to be applied against principle lowering the balance below the threshold. This was applied to our account on XX/XX/XXXX This brought our principle remaining to approx {$210000.00}. 77.96 % When I called back today XX/XX/XXXX, to make sure the Mortgage Insurance was eliminated I was referred to the Insurance Department who informed me that I was " misinformed '' and that in fact, the only way I could get this done was by paying for a new appraisal and only then would this be considered. Also, she informed me that they considered the 78 % against the sale price of {$250000.00} as opposed to the Appraised price of {$280000.00}. This is unacceptable and a fraudulent misrepresentation. The person I spoke with today said she would provide a message to her supervisor that I wanted a call back and, as anticipated, I have not received any.
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| 09/10/2015 |
Yes |
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- Credit decision / Underwriting
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Web |
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I Was notified XXXX was selling our loan to Penny mac. We were contacted by penny mac saying Welcome .also to let us know we were available to receive a streamline loan and save us money! I made it clear ... sure if our payments were lower and no money out of our pocket. The gentlemen which we do have the name of assured us after some time yes he could save us about XXXX a month and nothing out of our pocket. We gave an application over the phone and sent XXXX dollars.
After much back and forth ... ..A confirmation was sent saying good to go ... .there would be about around XXXX. closing cost for us. ( Please do not quote the amounts I am giving you ballpark ) I immediately contacted them and said NO you said nothing out of our pocket, cancel the loan.
They said they would get back to us ... ..came back and said good news payment saves almost XXXX bucks a month and no closing. We closedOur first payment was due and there was another fee as well after calling Found out no taxes for escrow were ever accounted for. We were already next month going to be XXXX in the red for our escrow acct. They say they are going to up our payment to cover XXXXdivided by XXXX.I am not well and I certainly would never refi. to pay a couple of XXXX more! Rate no lower, payment higher this is predatory lending. We need help! We also feel strongly that we were discriminated against because we are both XXXX. We want to reinstate prior loan w/same payment. We are in fear of losing our home The XXXX of this matter is starting to further affect our health.
Thanks XXXX and XXXX XXXX
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| 07/19/2023 |
Yes |
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- Struggling to pay mortgage
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Web |
Servicemember |
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I applied for a Modification on my XXXX loan in late XXXX. I was sent a Modification package which was accepted, Notarized and returned in a timely manner. I attempted to make the payment online for the modification amount of {$2900.00} as I have made all of my payments in the past. The online system refused my payments when I attempted to make it in XXXX, after several attempts I gave up. PennyMac acknowledges my attempts to pay and now explains that it is " suggested '' to talk to a representative when making the first modification payment. This is the first modification that I have received and was unaware of Pennymac 's inner-workings, given that NONE of this suggested payment information is in writing nor included in the Modification package that was signed and Notarized. PennyMac unilaterally canceled my accepted Modification agreement and offered me an appeal, which I applied for, a month later the payment INCREASED to {$4700.00} which is very much unaffordable to me. I submitted income of approximately {$6000.00} and I have XXXX children at home. I understand that modifications are offered to make keeping my home, affordable. Unfortunately the current offer is extremely unaffordable. I have attempted several times to contact PennyMac in order to reinstate my accepted and signed Modification from XX/XX/XXXX. Each operator has a different response to my situation, yet they refuse to send anything in writing to support their decisions. I have attempted to file a complaint with them, to no avail. Please help me keep my home, with an affordable payment.
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| 01/21/2021 |
Yes |
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- Trouble during payment process
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Web |
Servicemember |
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I closed on a VA home loan with XXXX 's XXXX on XX/XX/XXXX.
I remitted payment in the amount of {$5000.00} over the telephone to XXXX 's XXXX on XX/XX/XXXX. I received receipt of this payment on XX/XX/XXXX.
On or around XX/XX/XXXX, XXXX XXXX sold servicing of this loan to XXXX, XXXX.
I was notified of this change from XXXX XXXX in a letter dated/postmarked XX/XX/XXXX and in a separate letter from XXXX dated/postmarked XX/XX/XXXX. I received these letters on XX/XX/XXXX.
In the letter sent from XXXX XXXX XXXX, it indicates : " XXXX XXXX XXXX XXXX is currently collecting your payments. XXXX XXXX XXXX XXXX will stop accepting payments received from you after XX/XX/XXXX. '' In a phone call with XXXX XXXX from XXXX XXXX on XX/XX/XXXX and again on XX/XX/XXXX, XXXX XXXX indicated to me that they notified XXXX of payment on XX/XX/XXXX and that the principal balance should be {$5000.00} less. Additionally, XXXX XXXX indicated to me that XXXX would issue me tax form XXXX.
XXXX has done neither of these things despite repeated and multiple requests to do so. In an email correspondence dated XX/XX/XXXX, XXXX indicated " no payments were received '' and refused to look into the matter. I have communicated with XXXX and XXXX from XXXX who have been unhelpful. XXXX XXXX has indicated that they have sent this XXXX. Where it stands, both companies are saying for me to " talk to the other guy. '' I have done both of these things and I have nothing to do with the matter. It's the two companies not talking to each other in a transaction that I have nothing do with.
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| 08/08/2017 |
Yes |
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- Struggling to pay mortgage
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Web |
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To Whom It May Concern I fell behind in my mortgage payments. Applied for a Modification of my loan payments. I was denied for a modification by Penny Mac. They claimed that my income was n't sufficient and that I needed to earn an additional {$200.00} per month. So I rented out a portion of my home to make up the difference. I was told I would get a new customer relationship manager. But I have never heard from her or spoke with her after leaving several messages and calling multiple times. I finally reached someone and they told me send my updated documentation overnight certified mail, which I did. I show a deliver date of the documentation. They have yet to say that they have received those documents. I had also faxed in the documentation. They requested additional information that I have also provided to them. They also indicated that now maybe I now earned too much income to qualify?? I am at a loss as to why no one has reached out to me and why when I speak with one person I am told one thing and then when I speak to another person I get told something different. I want to keep my home and I feel that I have provided enough documentation and supporting materials to show that I am qualified to have a loan modification. Penny Mac has a FC sale date set for XX/XX/XXXX and so I am out of time. I feel that I have unjustly treated and not provided the correct information to allow me to meet the guidelines. How can Penny Mac take my home for not having {$200.00} extra per month and then later having too much income. Please help! Please advise! Sincerely,
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| 04/21/2018 |
Yes |
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- Trouble during payment process
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Web |
Servicemember |
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PennyMac Loss Drafts Claims is holding all of the money to get our home repaired after a mold remediation claim with our home insurance company that has already been settled. All funds have been received and kept by PennyMac since the beginning of XX/XX/XXXX. During this time, we have placed most of our home furnishings in storage and begun moving our pets and ourselves into a small travel trailer n the driveway. These extra out of pocket expenses that would not have been incurred otherwise are adding up. Between XXXX and XX/XX/XXXX, after having submitted all required documents by the contractor they are still misplacing documents and asking for them by phone. Yesterday ( XX/XX/XXXX ) XXXX called asking me for a form for the mold remediation contractor who was finished last year after all of his company 's documents were accepted. After some discussion XXXX was able to find the document in question. What's next? This is not the first time I have received a call asking for documents they already have. It seems they are not capable of keeping and maintaining important documents/records. This concerns me more than you can imagine. I have done everything I'm supposed to do and submitted every document they require and still they have delayed the process yet again. How are we ever going to get our home repaired if we can't pay a contractor? Can they legally keep the money from the settlement? I have never missed a mortgage payment or been late. I am a law abiding, working class man and I've done everything right. I have never felt so powerless and hopeless.
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| 07/27/2017 |
Yes |
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- Struggling to pay mortgage
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Web |
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in 2016 i went thru a hardship i am single parent. i asked penny mac to do a loan modifaction.The under writer was XXXX XXXX, i had two jobs at that time to try to get caught up on things. i had everything i needed to get it done ..She forgot to add it XXXX XXXX XXXX paystibs all together!!! and with out that i did not qualify, so i said wello its your mistake, redo the file and add that income back in. XXXX XXXX from pennymac said no file was closed and new file would have to be open. This is my home! That was a huge mistake, she was rude and seemed as if i was bothering her. So i reopened another file. Working through XXXX.Faxed over all the paper work my dad and i thought penny mac needed, they asked my dad to co sighn even though he does not live here and they asked for a letter stating he does not contribute to the bills. XX/XX/XXXX we had a phone conference with penny mac, home start, and myself and XXXX XXXX from from penny mac states he does not have paper work.In the mean time i called XXXX XXXX my point of contact at penny mac and offered to make a large payment XXXX $ to get caught up on payments, i received part of an inheritence and explaned i am also expexting a large settlment soon from auto accident and will be able to get caught up. He said no!!!! Are you kidding me? i really feel like penny mac is jerking me around and trying ton forclose on my home because now i am so far behind and they keep adding these attorny fees. i reaally feel i nmeed help here.my dad is willing to co sign we fax over paper work to them this is ridiculous,
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| 11/02/2016 |
Yes |
- Mortgage
- Conventional fixed mortgage
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- Loan servicing, payments, escrow account
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Web |
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PennyMac Loan Services LLC incorrectly calculated my mortgage payment last year to not include property tax. When they recalculated for this year they realized their error and added on my property tax bill from last year and the one for this year, causing my payment to almost double. I called them and they agreed I was diligent about sending them my tax bill as soon as I received it and paying my bill on time. The best they could do was disperse the old tax bill across payments but this still has caused my mortgage payment to increase almost {$300.00} more a month than last year 's monthly payments. They sent me a letter saying they would look into making this payment smaller yet but that they needed to talk to me in person and told me to call a woman name XXXX XXXX, Priority Complaint Specialist. I have called and left a message on this woman 's machine 4 times. I have never been able to get a hold of her. She has only attempted to call me one time at the beginning of XXXX and it was during my work day. I have since called her back, during work hours, 4 more times and left messages with my name, loan number, complaint number, and telephone. She has yet to return any of these. This has been left unresolved for so long that I 've had to make the almost {$300.00} more a month higher payment which has obviously been a tremendous burden on my budget. This company has messed up my loan, literally the biggest investment in my life, that I have very little confidence in their ability to remedy this problem and in their ability to not create another issue.
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| 03/22/2021 |
Yes |
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
Servicemember |
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Im a XXXX veteran working with PennyMac loan servics for over 5 years. Never missed any payment not 1 time. They contacted me to Refinance my Va mortgage back in XX/XX/XXXX. And it been a nightmare lieds after lies. I was told by my loan officer i would be closings on XX/XX/XXXX and not to pay my mortgage for XXXX and XXXX because in would be included in my loan. That was a lie, didn't have all the right documents for the closing. So they rescheduled my closing for XX/XX/XXXX, and XX/XX/XXXX, and cancel out with saying a word. After i took off work all 3 times. Had my credit missed up for XXXX and XXXX XXXX XXXX called and told me to pay my mortgage for XXXX and I would be closings for sure XX/XX/XXXX .So i did, no problem. Closed as scheduled everything good i thought. Never received any money after closing like they promise 3 days after. Then they started calling telling me i was late for XXXX and XXXX mortgage payment that was supposed to be included in my new loan. My first payment for my loan was XX/XX/XXXX. Call after call threatened after about making a payment. And i told them i closed on the XX/XX/XXXX. Nothing, Reach out to XXXX and they didn't nothing. Call and talked to VIps after Vips. Managers after manager loan officer after loan officer nothing be lied. Then threatened to canceled my loan all together. Need help bad can not sleep or eat head hurting every day. Got me and my family stressed out of losing our home. Pennymac is the worst Mortgage company in XXXX. My credit is messed up because of them and can't go anywhere else.
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| 04/01/2020 |
Yes |
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- Trouble during payment process
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Web |
Older American |
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On XX/XX/2019, I took out a refinance loan with PennyMac Mortgage for our single family home. At that time XXXX XXXX was my loan officer. He seemed to know what he was doing. He informed me instead of my receiving an escrow check back from my current mortgage at that time, I could roll it over into my refinance towards the new escrow so that my closing cost and my escrow would be enough to start my new loan. I agreed that was fine. I figured he was the professional and knew what he was doing. This reduced my mortgage from {$1400.00} to {$1200.00}. That sounded great to me. Now 5 months later, I find out that I have a {$1800.00} deficit in my escrow. I spoke to XXXX in the customer service dept. and she indicated Mr. XXXX did not apply my {$1300.00} escrow balance to the new loan. She consulted her supervisor to research with her and that is what they came up with. She says the only way to rectify this situation is they have to pass this on to me, even though it was not my fault. The alternatives is to use my XXXX payment of {$1200.00} towards the escrow deficit and make 2 payments in XXXX of {$2400.00}. ( We can not do this ) or spread the deficit over 48 months and that will increase our mortgage by {$140.00} a month. Neither of these are feasible for us. We are in our 60 's and not working. I have a XXXX XXXX XXXX with no XXXX since XX/XX/2019. I believe Mr. XXXX played with the escrow to make it look like a better deal than it actually was. I can not refinance with the FHA loans outrageous now.
The loan # XXXX that I am referencing.
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| 10/23/2020 |
Yes |
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- Struggling to pay mortgage
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Web |
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I have a FHA loan through Penny Mac. I orally requested for 180 day forebearance plan under the Government Cares Act, and before the initial 180 days expired, I orally requested for an additional 180 days. My initial 180 days allegedly expired on XX/XX/XXXX. I received an unscrupulous and unlawful XX/XX/XXXX letter from Penny Mac titled, " Notice Of Default And Intent To Accelerate ''. The letter reads as follows, " This letter is a formal demand to pay {$8600.00}. '' " And Penny Mac may invoke any remedies provided for in the Note and Security instrument, including but not limited to the foreclosure sale of the property. '' " This letter is formal notice by Penny Mac Loan Services, LLC that you are in default under the terms of the documents creating and securing your loan. '' " The loan is due for XX/XX/XXXX and subsequent payments, plus late charges, and/or any escrow balances, fees and cost. '' " As of today, the total delinquency and reinstatement amount is {$8600.00}. '' My FHA mortgage is under the forebearance plan, and it's unlawful under the Federal Cares Act to receive a default letter from PennyMac, while I'm under the forebearance plan. I'm not required to pay any mortgage payments, late fees, or penalties during my forebearance period. Lastly, I have an audio recorded conversation with Penny Mac 's representative, stating that Penny Mac have honored my second 180 days forebearance plan, and never stated that my loan is in default or delinquent status. I will be more than happy to provide the recording to CFPB upon request.
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| 11/05/2019 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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I refinanced my home in XX/XX/XXXX, with first payment due XX/XX/2019. I received a 'first payment letter ' and made the payment according to the directions in there from XXXX XXXX XXXX.
I received a 'welcome letter ' from PennyMac on XX/XX/XXXX indicating the servicing was transferred to PennyMac . There is not an 'effective date ' on the 'welcome letter ' indicating WHEN the transfer was to take place. Also, the letter indicates " NO ACTION REQUIRED ON YOUR PART ''. Oh really? If i don't do anything, who is going to change the address in my bill pay to the new address? This is a misleading statement because in fact, action is required-records need to be updated to reflect the new payment address at PennyMac as opposed to the address for XXXX XXXX XXXX.
Speaking of addresses, the 'goodbye ' letter from XXXX XXXX XXXX indicates " Send all payments due on or after XX/XX/2019 to the below address ''. While this is great as a cutoff date is provided, the address to send payments to is different than the payment address on the " welcome '' letter from PennyMac. How is a consumer to know which is correct?
After spending 20 minutes on hold at PennyMac, the woman explained to me that the address on the 'goodbye ' letter was a 'correspondence ' address. Well, if it is a correspondence address, why does it say 'send all payments ... ''? Her response was along the lines of 'well yeah, but it is a correspondence address '. That is SO enlightening and helpful! Her instructions were to use the address on the 'welcome ' letter to send payments.
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| 03/12/2018 |
Yes |
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- Trouble during payment process
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Web |
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For the months of XX/XX/XXXX and XX/XX/XXXX I attempted to pay my mortgage via phone. I went through all the steps necessary to pay by phone for the XX/XX/XXXX payment. I even got a confirmation number and an email telling me my payment was received. A few days later i went to check my account balance and I learned that the XX/XX/XXXX payment was rejected because PennyMac gave the wrong name of the account holder. My mother used to be on the mortgage but she passed away in XX/XX/XXXX. PennyMac used her name to get paid by my bank. I was forced to take a day off to fix the situation. Despite telling PennyMac on numerous occasions to take her name off the new mortgage they have not done so. Again the same thing happened when I went to pay the XX/XX/XXXX mortgage.
I was able to pay the mortgage until the recession of XX/XX/XXXX. I went through a NIGHTMARE to get PennyMac to modify my mortgage. The law firm they hired gave me XXXX. They also told CT bar to spread the word to attorneys not to take on my case because i was a dead beat debtor. i was stupid enough to seek assistance from a Congressman 's office. They offered no help and may have revealed my financial information to my neighbors who kindly told me I was bankrupt and they wanted to buy my property. I survived this XXXX and PennyMac is still engaging in all kinds of violations of the FDCA. Apparently, they are purposely using my mother 's name so they can find out if I have a cell phone so they can tell the police. Please see attached documents to understand police involvement.
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| 04/04/2016 |
Yes |
- Mortgage
- Conventional fixed mortgage
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- Loan modification,collection,foreclosure
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Web |
Servicemember |
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I have been working with PennyMac for almost a year in trying to modify my home. Back in XXXX of 2015, I was only 3 months late, and I had also a complete modification package with Penny Mac. While I was on a call with them to ask about the modification, I asked the agent where I can make my mortgage payment, and the representative instructed me not to make any more payments because then I would be denied because it would show I did not have a hardship. I was hesitant as I still wanted to make payments, but Penny Mac agent said do n't make a payment and we can not accept any more payments unless it is the FULL amount. Shortly after that, I received a Notice of Trustee sale even though I was in modification review and it was confirmed that ALL documents were in. But then, when I would call another agent would state that no, not all of your documents are in. They set a sale while I was in review and they are continuing to play these games with me. My brother and his daughter live in the home and I am XXXX right now with my elderly parents. My father was in the XXXX XXXX XXXX, I helped them with their mortgage payments for 6 months and that is why I fell behind, I have sent this proof in to Penny Mac and they are stating my hardship is not verifiable. Please help me It seems like Penny Mac just wants to foreclose without giving me a chance. Please dont allow them to tell people to miss payment and refuse a payment, I am ready willing and able to make payments, I just need a lower interest rate as it is 6.95 %. Please help. XXXX XXXX you.
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| 05/28/2020 |
Yes |
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- Struggling to pay mortgage
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Web |
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I am very frustrated. My mortgage company ( PennyMac USA ) offered the CARES Act mortgage forbearance when all the COVID-19 craziness happened. We were overwhelmed, stressed, scared and thought this was simply a kind hearted gesture to give relief during these unprecedented times.
I missed one payment ( XXXX ) under this plan. I received an email that stated when I came out of forbearance that this one payment would simply be automatically added to the end of my loan. I called to verify and was assured that yes, that would be what would automatically happen with no negative impact to me.
I called today to make the XXXX payment and let PennyMac know all payments would now be made and that the XXXX payment was the only one needing to be added to the end of the loan.
I spent over 30 minutes on the phone with a representative who told me that I would owe over {$3000.00} in XXXX ... my monthly payment is {$1300.00}. I immediately questioned this as this went against what I was told. She then told me I had to set up a payment plan. She told me I have to pay my regular {$1300.00} payment PLUS {$1900.00} for XXXX, XXXX, XXXX, XXXX and XXXX How does a missed {$1300.00} payment equal {$9500.00} ( {$1900.00} for 5 months )???
I again stated what I was told about PennyMac automatically adding the ONE missed payment to the end of my loan.
She said a Loss Mitigation Agent now needs to contact me.
So now I am INCREDIBLY stressed ... feeling like I NEVER should have accepted this offer of help because it is now so NOT going to help me!!!
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| 03/04/2019 |
Yes |
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- Trouble during payment process
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Web |
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My ( XXXX XXXX XXXX XXXX ) escrow account was short for this year because we had built a new home and taxes were based off the lot appraisal only. I ( XXXX XXXX XXXX ) contacted Penny Mac Loan Services on XX/XX/XXXX. Because our escrow was short we were making a payment of {$1700.00} to make up the shortfall. I decided to make one lump sum payment of {$2800.00} to pay off the escrow shortfall with a confirmation number supplied by Penny Mac Loan services of XXXX. It was drafted from my bank on XX/XX/XXXX.
I very specifically asked if our new payment of {$1300.00} ( normal payment less escrow shortage ) would start on XX/XX/XXXX. The Penny mac representative assured me my new payment of {$1300.00} would be effective that date.
On XX/XX/XXXX I logged into my Pennymac account and noticed it still showed {$1700.00} due on XX/XX/XXXX. I again called Penny Mac customer service. They again assured me only the correct amount of {$1300.00} would be billed to my account on XX/XX/XXXX.
On XX/XX/XXXX my autopay payment had not been subtracted as normal. I called to verify that no changes had been made that effected autopay. They stated that the payment would be debited on XX/XX/XXXX because the first was the Friday. And stated for now THE THIRD TIME that my payment would be {$1300.00} as I had paid off the escrow shortage completely.
On XX/XX/XXXX. After three different representatives stating my payment would be {$1300.00} because of paying off the escrow shortage in total Penny Mac billed me {$1700.00}. They stated they " messed up ''.
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| 01/13/2016 |
Yes |
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- Loan modification,collection,foreclosure
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Web |
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My husband is an XXXX that was laid off XXXX XXXX, 2015. Knowing that I would not be able to make our mortgage payment I called the mortgage service company and asked to apply for a modification. I was told that I would not be able to apply for a modification because I was current on my mortgage. That I would need to stop making my monthly payment to fall behind and then would able to apply. I did this and was allowed to apply for a forbearance, and was approved for this plan which included to pay a XXXX a month mortgage until my husband became employed again. As soon as my husband became employed again I sent in a copy of his pay stub and then was able to apply for a modification. Doing exactly what I was told to do I sent all the information needed to apply for the modification which is now in review. After my application went to the modification department I was then informed that I should have never been told to stop making my payment to apply. This is not correct information any longer with a new law in place. Now my loan is extremely in default and I know that I will never be able to bring it back to current because of the negligence of the employee who told me to stop making my payment. I fear losing my home because of employees not being educated properly to do their job. XXXX XXXX from the modification department has informed me that she is going to have the phone conversations reviewed and to have them used in education for the employees because the laws have changed and the phone reps need to be giving correct information.
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| 07/06/2022 |
Yes |
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- Trouble during payment process
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Web |
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In XXXX of XXXX, I did a Covid forbearance with my Mortage Company, PENNYMAC LOAN SERVICES , LLC XXXX XXXX XXXX XXXX XXXX, CA XXXX. I did not make a payment for XXXX, XXXX, and XXXX and was told that the payments missed would become a 2nd mortgage interest-free and it would be paid when I sold my house. In XXXX of XXXX, I started to make my monthly payments again. I now have a loan statement that shows today in XXXX I have paid Principal {$5600.00} Interest {$5300.00} Escrow ( Taxes and Insurance ) {$3700.00} Fees {$7300.00} Credit Balance {$4400.00} When I call to inquire about the {$7300.00} I am told it was a mistake and they corrected it. It has not been corrected. I have requested a breakdown of the fees and was again told that it was payments missed allocated. I have requested a letter stating that the correction has been made and where the money was re-allocated and that the interest has also been corrected since the daily interest charges. I was told that that wasn't true interest doesn't work like that on a mortgage. I requested to speak to a supervisor and was left on hold for XXXX minutes then he came back and stated that no one was available but again assured me everything was fixed.
You will see in the documents I am attaching that the documents and the online information do not reconcile and have different information on them.
Also anytime I have made an overpayment and requested it be applied to my principal they have applied it to a suspense account and not reduced my principle to reduce my daily interest rate.
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| 05/16/2022 |
Yes |
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- Trouble during payment process
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Web |
Servicemember |
|
I contacted Penny Mac Mortgage because was getting my house refinanced on XX/XX/XXXX. When I went through the automated to check my insurance dates it said that I had an XXXX home insurance policy and that it was still good. When I called XXXX to get a declaration page for the new bank, they informed me that my policy did not renew in XX/XX/XXXX and they sent XXXX XXXX a letter. Hence, they advised that I was sent XXXX too. I told them during the covid pandemic, last year there was a time I did not get mail. On XX/XX/XXXX, I contacted XXXX XXXX back and they advised they received the letter from the insurance company and did nothing. I could not get any insurance no matter where I called due to a lack of coverage for almost a year. After getting insurance from the Virginia Plan which does not include but XXXX in personal property, there is nothing else I could get. On XX/XX/XXXX, I spoke with XXXX XXXX who is a supervisor. She researched everything and advised that her company was liable and that she would reimburse the {$1800.00} that Penny Mac charged me for the lapse in coverage and assist with the personal property coverage. She told me to give her some time and she would give me a callback. After failing to reach her for several weeks, I asked to speak with her supervisor on XX/XX/XXXX and she took my call. She advised that her supervisor approved the request on XX/XX/XXXX and went on for final approval and was denied on XX/XX/XXXX by XXXX XXXX. The reason being is they are not responsible to notify me when insurance is lost.
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| 12/02/2019 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
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Web |
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We closed on a refinance for our loan on XX/XX/XXXX, and the loan funded on XX/XX/XXXX. At that time we had {$2400.00} in our escrow account. I have contacted the mortgage lender three times in regards to our escrow account refund. I have received different information during each phone call, and no one can provide me confirmation that our money has been sent to us.
1st phone call XX/XX/XXXX - I was told the refund check was mailed XX/XX/XXXX and that I must wait 20 business days. No additional information was offered.
2nd phone call XX/XX/XXXX - I was told the refund check was mailed XX/XX/XXXX ( different information ). They offered to stop processing on the first check and mail a new one. My request to send the check using a tracking number and XXXX or XXXX service was denied, and I was told that is not possible.
3rd phone call XX/XX/XXXX - I was told the second attempt check was sent on XX/XX/XXXX. I was told that it could have been sent with a tracking number with XXXX with no explanation as to why I was refused that option the last call. I requested an email confirmation stating the escrow account refund check had been issued and was informed that the only confirmation was looking at my account activity on the website. Email confirmation was refused.
Information during each phone call has been inconsistent. The company can not offer suitable solutions or explanations to resolve the issue. It has now been 46 days since our refinance funded to PennyMac Loan Services, and we have not received our escrow account refund.
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| 01/03/2019 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Struggling to pay mortgage
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|
Web |
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PennyMac continues to knowingly engage in the prohibited practice of dual tracking while having received timely all the required documents and financial information from the borrower requesting a loan modification.
PennyMac received within 37 days prior to the scheduled foreclosure sale of XX/XX/XXXX, a completed application with supporting documents.
Penny acknowledged receipt and never provide any missing documents letter to date.
PennyMac is claiming that they stopped the foreclosures sale of XX/XX/XXXX, to review the mortgage assistance application. This is totally false. PennyMac played no role or part in stopping the sale of XX/XX/XXXX.
I confirmed, the Sheriffs office received " NOTHING '' in writing from PennyMac or its legal representative to stop the foreclosures sale of XX/XX/XXXX. The Sheriffs office has no written records of PennyMac making any efforts to stop the foreclosure sale of of XX/XX/XXXX.
I personally had to go to the Sheriffs Office on XX/XX/XXXX, in order to make the request to adjourn the foreclosure sale and have attached proof of my efforts.
The attached letter from the Sheriff 's Office confirms, I stopped the sale of XX/XX/XXXX and not PennyMac or it's legal representatives Therefore, PennyMac is still engaging in the prohibited practice of dual tracking and never properly reviewed my mortgage assistance application, which was sent to them on two separate occasions and prior to the 37 days prior to the scheduled foreclosure sale of XX/XX/XXXX, and new foreclosure sale date of XX/XX/XXXX.
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| 06/09/2019 |
Yes |
|
- Trouble during payment process
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Web |
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After the impact of hurricane Florence here, I was placed into forbearance in XX/XX/2018 to get back to normal. During the time of trying to research our situation, I was notified by the insurance company that was supposed to be providing wind and hail insurance, that coverage had been cancelled due to non payment from the escrow account of the mortgage company ( Pennymac ). No notifications had been presented to me and the mortgage company was completely unaware of the situation. This insurance is required for our geographic area. No force placed insurance was offered or placed on the property which lead to all damages that happened during the natural disaster had to be paid cash out of my pocket. While under forbearance I was interviewed around the 90 day mark and not made aware that credit reporting was about to start happening while my family and I still tried to get back to normal while saving to do repairs that were not covered by the negligence of the mortgage company. No attempt was made by Pennymac to help me recoup the costs of their mistake and was left out to dry trying to save for repairs from the storm and was left out to dry damaging my credit report.
Also I have discovered that I was reported 30 days late for the month of XXXX when payment was received ( paying the load off ) on XX/XX/XXXX. Due to the property being under contract and the account needing to stay untouched I did not make a payment thinking the money would be presented to the company on time. My usual due date was the XXXX of every month.
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| 11/27/2022 |
Yes |
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- Struggling to pay mortgage
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Web |
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Back in XX/XX/2022, I had specifically asked PennyMac Mortgage to make a payment arrangement on my mortgage. I needed an extra week to pay my mortgage due to repairs needed on my automobile which placed me into a financial deficit. I asked the mortgage company if the arrangement would effect my credit score and if so by how many points? In response their rep said, " I don't know for sure, but we can make the arrangement. '' Also, this has effected my wife 's credit score drastically too because we are joint owners of the mortgage. My payment was on time, however, it cleared 3 days past my due date. I called PennyMac and management said they would work with me, but they said they couldn't remove it from my account. They told me to put in reports to the XXXX credit bureaus. XXXX didn't record the payment as late since it was only 33 days, but XXXX and XXXX would not. I talked to their reps and they told me to call back PennyMac. It's been a XXXX " cat-n-mouse '' and I started to give up, until I was made aware of CFPB via online searching. Before XXXX I had NOT missed a single payment with PennyMac and came through on my end of the agreement. I haven't asked for CARES Act assistance nor did I file for foreclosure because I didn't need any just a once off occurrence in XXXX. This one incident has crippled my credit and I may need to purchase a new car sooner than later, but this 30 day late payment on my credit has hurt. Can't build and make solid credit based consumer purchases with this on my credit report. Please help!
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| 04/09/2021 |
Yes |
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- Trouble during payment process
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Web |
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I have initiated a legal complaint with my former lenders ( XXXX Mortgage XXXX and PennyMac Loan Services , LLC ), which are case # XXXX at XXXX XXXX XXXX XXXX XXXX ( inactive - removed to federal court ) and Case # XXXX with the XXXX XXXX XXXX XXXX XXXX Tennessee XXXX XXXX ( active ). I've intended on reporting both lenders for some time, but my health just wasn't in a place that let me do so, plus every time I said I was going to, PennyMac would suddenly seem more amiable. I was giving them the benefit of the doubt on those occasions.
The essence of my complaint include a minimum of : - 14 violations of T.C.A. XXXX ( a ) - 3 violations of T.C.A. XXXX ( b ) ( 12 ) - 3 violations of T.C.A. XXXX ( b ) ( 13 ) - 4 violations of T.C.A. XXXX ( c ) ( 1 ) - 3 instances of actual or constructive fraud - an additional instance of actual fraud - fraudulent concealment - 3 breaches of contract ( T.C.A. XXXX ) - just found the 3rd one last week - 17 months of conduct that culminated in I.I.E.D. See Doc. No. 1-2 I say a minimum of the above, because these are the only ones that I know I can prove. I'm attaching the amended complaint, which is super long, and the motion to remand, which has a 5-page summation under the section labeled " BACKGROUND. '' It looks like your system will allow me to attach all exhibits associated with the background section of the Motion to Remand. If for some reason you don't receive them all or need the other exhibits, please feel free to reach out to me for them. I can email them to you.
Thank you.
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| 08/20/2019 |
Yes |
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- Trouble during payment process
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Web |
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On XX/XX/2019 at XXXX XXXX, I received a voicemail message from my loan servicer, PennyMac to call them regarding a "problem" with my account. I called them back and spoke with someone named XXXX. She said that my account was approximately XXXX short. I don't remember the exact dollar amount. She then said the payment was not applied correctly and for me to hold on while she had the payment applied correctly. She then comes back on the line and says "did you get your escrow statement?" I said yes and I sent the extra escrow payment along with the regular payment (actually, I sent more than the regular payment). I told her that I had proof that both payments were received but she did not believe me. She said well the amounts don't match up and we haven't received any payments. She first said the payment was not applied correctly, but now she is saying that they did not receive "any payment". I explained to her that I had proof that both payments were received. She then said well you need to work that out with the Escrow Department. I took her tone to be very condescending and disrespectful. I was not surprised, because this is the case with just about every employee I've spoken to atg Pennymac. I 100% dread calling there for any reason because I know the call is not going to go well. It's as if they teach their employees how to frustrate their customers. At any rate, she had me on hold for over 10 minutes until I had to hang up. I go to work to work, not sit on hold while your employees disrespect me.
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| 03/17/2023 |
Yes |
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- Trouble during payment process
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Web |
Servicemember |
|
Below is information that I have been able to gather from PennyMac my mortgage servicer. I have been in a continual battle with them trying to get reliable customer service from them. This has been a difficult task, my tax exemption was approved back in XXXX XX/XX/XXXX, but it has taking three going on four months to get my full refund back from PennyMac my mortgage company. So far I have only received a partial refund of taxes collected about {$650.00} in XX/XX/XXXX. The remaining balance appears to be on loan to PennyMac. Additional there is the matter of my Homeowners Insurance, paid in full by me on XX/XX/XXXX but PennyMac is collecting escrow from me for this same policy. Again, this policy is paid in full so why is PennyMac insist on setting asides funds from my Mortgage payment for insurance which I already have. Its been three months and I still have not received the remaining balance {$540.00}.
PennyMac claims to be accountable, reliable, and Ethical, they claim Customers First, care and win together, and do whats right. Its never wrong. So why is it that none of my customers request are being handled timely, why is PennyMac holding onto my money? Whats so ethical about this way of doing business.
I am not sure if any of these actions fall under the predatory lending practice or some other regulatory ruling, but I just want to be treated fairly and I want my money returned to me.
{$110.00} + {$540.00} = {$660.00} is what I am owed since you have my bank account wiring the funds back to me should be easy.
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| 08/11/2021 |
Yes |
|
- Applying for a mortgage or refinancing an existing mortgage
|
|
Web |
Servicemember |
|
We are in the process of procuring a VA refi loan for our primary residence. We originally chose PennyMac to handle the loan. In the process, and after spending a fair amount of money, PennyMac said we needed Flood Insurance. We challenged this and to no avail. We checked out other lenders and all have found out the our residence is considered X500, meaning no flood insurance is required. We approached PennyMac about this with documentation and they still refused to remove this stipulation. At this point we chose another financial institution, XXXXXXXX XXXX XXXX XXXXXXXX in XXXX XXXX AR. They have been great to work with especially XXXX XXXX, VP for lending. The one document he needs to move forward is the appraisal, which I paid for. PennyMac has to release this appraisal to the VA for reassignment to XXXXXXXX XXXX. They are severly dragging their feet on this issue to the point that we might not meet the time period for our interest rate. I have contacted PennyMac by phone, email and text directly to : XXXX XXXX XXXX Loan Officer NMLS # XXXX Phone : ( XXXX ) XXXX Ext. XXXX Fax : ( XXXX ) XXXX XXXX We are given a multitude of excuses as to why it hasn't been done. XXXXXXXX XXXX has also contacte
d PennyMac, but to no avail. We paid for this appraisal and feel that it is within our rights to chose the lender we chose and to have full cooperation from PennyMac to help us move forward with this new l
ender.
Thank you for your attention to this matter, XXXX XXXX XXXX XXXX XXXX XXXX XXXX.
XXXX, AR XXXX XXXX XXXX XXXX
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| 04/21/2019 |
Yes |
|
- Trouble during payment process
|
|
Web |
Servicemember |
|
On XX/XX/XXXX I contacted the mortgage company, Pennymac, because they claimed I was in default on my mortgage. I have never missed a payment and pay on time. I explained that their analysis of our escrow account was wrong and we were being overcharged. The woman who answered the phone told me I didnt have a choice how much I paid every month. I told her that their analysis was wrong and what it should be. Furthermore, the money in our escrow account is technically ours! She continued to harp that I was not making a full payment and said we would be referred to collections. I told her that I paid my mortgage on time every month and asked her if I needed to get an attorney because they were not applying my payment. I do not appreciate being threatened with collections and ruining my good credit because of their incompetence.
A survey came on that I responded to after that woman hung up. After answering that I was not happy, another lady came on the phone. It turns out this company added a TWO month cushion to my escrow account, creating an underage on our account that was then added to our monthly payment! This amounts to over {$1000.00}! {$1000.00} that I am not being paid interest on! The second representative corrected the escrow payment amount and was very nice.
This is not the first time this company has threatened me with collections because they cant calculate an escrow payment correctly and I am tired of being bullied! I firmly believe this company needs to be investigated for unfair business practices.
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| 12/23/2016 |
Yes |
- Mortgage
- Conventional fixed mortgage
|
- Loan modification,collection,foreclosure
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Web |
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My client submitted a request for short sale to Penny Mac in XXXX and we were told the file had been submitted to the investor for a decision in early XXXX. We had a ratified contract on the property in XXXX and were told to hold it until we received the Approval to Participate ( ATP ) which is the FHA letter allowing the seller to participate in the pre-foreclosure sale. Approximately 10 days later we were informed that the property has a foreclosure sale date of XX/XX/2017. When I confronted the contact at Penny Mac he said he is just informing us of the sale date and that the review was still pending. After several days I emailed him to get the status of the ATP and was told they will not issue the ATP since there is a sale date scheduled. I explained we had an offer on the property and asked him why he told us not to submit the contract. His response was the investor initiated the foreclosure faster that they thought it would be. I immediately sent in the offer and closing disclosure and requested he send it in for review. I asked for an update and he is no longer returning calls or emails. I have called his manager 3 times and not received any return calls. My client was depending on Penny Mac to handle his request in a timely manner and give him consideration on his offer and they have completely dropped the ball. This company has drug the process on and allowed the home to go into foreclosure when they had the ability to move the file in a timely manner and keep the foreclosure process from being initiated
|
| 09/16/2015 |
Yes |
- Mortgage
- Conventional fixed mortgage
|
- Loan servicing, payments, escrow account
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|
Web |
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PennyMac Loan Services will not remove the PMI payments on my mortgage. I have made numerous additional principal payments to get the principal below XXXX % of the originally appraised value ( {$240000.00} ) on the mortgage. I have never missed a payment and requested that the PMI be removed when the L : V ratio fell below XXXX % of the original appraisal back in XXXX 2015. At this time they ordered a BPO, which found the value of the property to fall from {$240000.00} to {$230000.00}, therefore denying the PMI removal request. I was told by PennyMac that as a result of the BPO, the L : V ratio needed to now be below XXXX % of the orginal value in order for the PMI to be removed. Under instructions from PennyMac, I made further additional principal reductions to get below the 78 % L : V ratio ( based on the original appraisal ). PennyMac is still refusing to remove the PMI even though the L : V ratio is now below XXXX % of the orginal value. Since beginning this process, I have followed up numerous times only to be told different information each time I call. The usual excuse I am given is that they are looking into it and I should wait 10 business days for a PMI removal resolution to be determined. In the meantime, I am still making PMI payments even though my principal balance is below XXXX % of the original value. In my opinion, PennyMac is intentionally providing me with misinformation and using delay tactics to extend the PMI payments on my mortgage. Please assist in getting the PMI removed from my mortgage.
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| 01/20/2021 |
Yes |
|
- Applying for a mortgage or refinancing an existing mortgage
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|
Web |
Servicemember |
|
Our current loan is with PennyMac. We were in the process of refinancing with XXXX XXXX, but we reached out to PennyMac to see if we could get a lower rate by staying with them. PennyMac agreed that they would be able to lower the rate and keep us as customers. We then cancelled the process with XXXX XXXX XXXX. We submitted all documents to Penny Mac the next day. On XXXX XXXX, I received an email from XXXX XXXX ( underwriter for PennyMac ) stating that our loan was approved and I would be receiving my closing documents to e-sign within 48 hours. On XX/XX/XXXX, I received an email from XXXX XXXX ( underwriter for PennyMac ) stating that my closing documents were available to sign. I then signed all the documents to move forward with the refinancing and closing. On XX/XX/XXXX, I received an email from XXXX XXXX stating its time to close. This email stated the appointment date of XX/XX/XXXX @ XXXX to sign the closing documents. We signed the documents on XX/XX/XXXX @ XXXX. On XXXX XXXX, I received a phone call from PennyMac regarding my loan stating that I am two months behind on my loan for XX/XX/XXXX and XX/XX/XXXX. I signed documents on XX/XX/XXXX stating that I will not have any payments due until XX/XX/XXXX. I called XXXX on XX/XX/XXXX inquiring about this and he advised the loan did not go through and I am now two months behind on my mortgage. I was NOT notified of any changes in the loan via email or phone. My credit has taken a huge hit because of this. Now I am in a bind with my mortgage and credit score.
|
| 09/18/2016 |
Yes |
|
- Loan servicing, payments, escrow account
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|
Web |
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|
I am filing a complaint against PennyMac Services LLC for threatening and harassing tactics, they have been servicing my Mortgage loan for the past two years. On XXXX XXXX, 2016 I received a certified letter stating that if I do not make my XXXX payment and late charges of {$1000.00} they will begin legal action to start foreclosure proceeding. My XXXX payment was received in their office on XXXX XXXX. My mortgage payment is current and due XXXX. I had this mortgage for XXXX XXXX years with XXXX XXXX year left before its paid In full. I called them to see why I am receiving threatening letters. XXXX of the representative said that I need to apply for a loan modification in order to stop foreclosure. I asked her what sense the it make for me to modify my loan when I only have 3 years left with a payoff of $ XXXX. I was told this would be the only way they can work me is to pay off the late charges and to a loan modification. This is a complete violation of UDAAP law. Intimidation and threats to take my home. Again I been living in the premises for 26 years and never had a problem with making any of my payments. The late charges that I have on the loan stems over a period of 20 years. Due to paying after the due date but never 30 days. I would like the CFPB organization to investigate this thoroughly. This has cause me a great deal of stress. As a matter a fact I received a letter on XXXX XXXX saying they will foreclose on my property all because of late charges and trying to pressure me into extended my mortgagg.
|
| 12/19/2017 |
Yes |
- Mortgage
- Other type of mortgage
|
- Struggling to pay mortgage
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|
Web |
|
|
Hello, I am being denied loan modification due to my XXXX from being fired while on workers compensation. I am a XXXX XXXX XXXX that was fired while hurt on the job. From my injury I have XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX. Also, I was current on my home mortgage until I was hurt on the job and fired. My wife is not employed and is currently in XXXX school. I am the sole provider of my household and my salary per year was {$180000.00} per year until I was terminated from my job. I was granted a forbearance but then they said it was denied, I was granted a loan modification but then denied. The forms I submitted they stated was not sufficient enough. PennyMac is the mortgage servicer for my home. And with my injury the law states my I trest rate states it shouldnt be more than 2 % but mine is 3.5 %. The required mortgage is {$2400.00} but with my injury and current XXXX status I should be paying no more than {$600.00} per month for my mortgage. I am being scammed and they are trying to take my home. I was even told by Pennymac to sell my home and also that I didnt qualify for anything and I am stuck with being homeles with a wife and XXXX kids. Please call me at XXXX XXXX XXXX.
My home address is : XXXX XXXX XXXX XXXX XXXX, Ca XXXX PennyMac Mortgage Loan number : XXXX telephone number : XXXX XXXX XXXX XXXX XXXX is the XXXX of the Loan issue.
Please contact me ASAP and I will elaborate on the situation even more. I am also faxing my documents that is needed and requested.
|
| 12/02/2022 |
Yes |
- Debt collection
- Mortgage debt
|
- Took or threatened to take negative or legal action
- Seized or attempted to seize your property
|
|
Web |
|
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I am consumer XXXX XXXX and I'm continuously being harassed by PENNYMAC LOAN SERVICES LLC. PENNYMAC LOAN SERVICES LLC, is a debt collector and must abide by the Fair Debt Collection Practices Act. PENNYMAC LOAN SERVICES , LLC has contacted me about alleged debt without my consent. During initial communication in XX/XX/2016 they did not send a statement that I had a right to dispute alleged debt. PENNYMAC LOAN SERVICES , LLC claims to have interest in consumer 's property and did not give any consideration or value. I do not have a contract with them and pursuant to the FDCPA PENNYMAC is not a creditor they were transferred an assignment. This was done without my consent and PENNYMAC created an account on behalf of the consumer in which is not my account. PENNYMAC has compiled false and deceptive forms to attempt to collect alleged debt. They are threatening to seize my property once again without any lawful right. I have a federal court case that has been filed against PENNYMAC FOR THEIR VIOLATIONS. This alleged debt was not and can not be verified by this third party debt collector. PENNYMAC IS IN VIOLATION OF ANTITRUST LAWS AS WELL BY ATTEMPTING TO PRESENT A LOAN ASSIGNMENT THAT THEY CLAIM TO BE TRUE. ALL DECEPTIVE AND COMPILED AND IN VIOLATION OF 15 USC 1. This is identity theft, they have my nonpublic information without my consent. THIS IS AN ALLEGED DEBT THAT IS DISPUTED SEVERAL TIMES. I AM NOT OBLIGATED TO PAY ALLEGED DEBT PURSUANT TO THE FDCPA AND PENNYMAC LOAN SERVICES LLC MUST ABIDE BY THE FDCPA.
|
| 07/10/2023 |
Yes |
|
|
|
Web |
|
|
Name : XXXX XXXX XXXX FHA Loan no : XXXX Last Friday XX/XX/2023, we are scheduled to close our loan at XXXX. On the day of closing, they said they can not do it because I have a previous FHA loan from another lender and I can not have 2 FHA loans at the same time. Its true i did have a previous loan from another lender but the purchase of that house did not push through and i was told by my previous lender that it was cancelled. However, it did not appear that it was cancelled. my issue is how come they did not see this on file to be resolved before the closing day? So we had to call our previous lender to have it cancelled and have FHA cancel it on their part as well. So now our closing got moved today, XX/XX/2023. My lender told me 100 % sure to close. STILL that is not the case. FHA has not cancelled our previous loan on their part which they have been working on since last friday. Up to right at this moment I am still waiting for them to send closing documents to my lender to be able to close today. Roughly it is taking them one whole working day to do this documents. Please understand we are living a hotel, paying it by the day. We just moved here from Indiana as a XXXX XXXX and we are losing money by the day paying hotels, eating out, missing work for the scheduled closings that keeps getting cancelled. If i have known how terrible this situation is going to end up i would have gotten a conventional loan instead. Somebody out there is not doing what they are supposed to do timely and efficiently.
|
| 07/27/2023 |
Yes |
|
- Struggling to pay mortgage
|
|
Web |
Servicemember |
|
My Husband and I went into a Forbearance last XX/XX/XXXX in an agreement that what we had missed in the forbearance would be deferred to how much we owe on the house instead of effecting our monthly payments. I started making payments again 2 months ago and let them know that i no longer needed the forbearance. They have now stund us with a new " modification " that was never agreed upon. they are telling us we owe backpay of over XXXX and instead of our usual XXXX payment a month, we will now owe XXXX a month or they will put our house in foreclosure. There is no paperwork trail. This was all just recorded on their end and was a verbal agreement over the phone. I have tried to get the recording from them now for 2 days. I have been getting the run around and was finally asked to send a hand written letter to the correspondence office and hopefully get a reply back. We have XXXX children, my husband is active duty military and we absolutely CAN NOT afford this. how do they expect an active duty family who was on a forbearance to all of a sudden be able to pay a mortgage and a half??? we were LIED to!!!!!!!!!!!! we did NOT agree to this and if i had the recording, i know it would hold up in court. this is SOOOO WRONG to do to a military family that already struggles to survive in a town with no family or friends to help! we are a XXXX XXXX XXXX that share a car and have no one to depend on but ourselves. They are unwilling to work with us, or provide me with the recording. I am so sick over this!
|
| 09/11/2015 |
Yes |
- Mortgage
- Conventional adjustable mortgage (ARM)
|
- Loan modification,collection,foreclosure
|
|
Web |
|
|
To Whom It May Concern, I have been dealing with my mortgage servicer for the past three years or so in hopes of discovering who the actual holder or beneficiary of my mortgage loan. To date, I have not been successful. I do not believe that PennyMac has been truthful with me and I do not believe they have a legal or proper interest or claim in my property as they have alleged. Over the past month, I realized that my loan transaction was never consummated pursuant to the laws of California due to the fact that my lender, the true source of funds for my loan, was never disclosed to me. Because my loan was never consummated, I understood that I could exercise my rescission rights. On XXXX XXXX, 2015, I faxed and mailed a letter of rescission to PennyMac. PennyMac acknowledged receipt of my letter but has failed to comply with the Federal Truth In Lending Act. Under the Act, if PennyMac wanted to challenge my rescission, they had to have filed a lawsuit within 20 days after receiving my letter of rescission. PennyMac received my letter of rescission on XXXX XXXX, 2015. The twenty day period has long passed and PennyMac has failed to either a file a complaint or comply with the Act. I am filing this complaint because they repeatedly choose to ignore and adhere to state and federal law and I believe they need to face some kind of disciplinary action and to comply with federal and state laws. If nothing is done, I believe they will continue to do what they want and not what the laws states they must do.
|
| 07/24/2019 |
Yes |
|
- Trouble during payment process
|
|
Web |
Servicemember |
|
I have a pennymac home loan. I lost my job in XXXX and was diagnosed with XXXX XXXX in late XXXX to early XXXX. I have made calls to the loan service department and the escalation departments of pennymac ; in excess of 40 calls to try and save my home from foreclosure.
Despite my request for loan modification process XXXX 2019, calls on my behalf by the veteran affair mortgage assistance beginning in XXXX to current. I was denied the modification in XXXX 2019. The veterans affair representative advised me to petion for the VA foregiveness program offered to all veteran home loans. The forgiveness program was denied by Pennymac, even at the request of the VA loan representative. Payments made to Pennymac in the amount of {$580.00} were not applied to my loan but were being held in a suspense account.
Pennymac was still unwiling to work with me after the denied loan modification and the VA loan forgiveness program.
With no recourse I was forced to list of my home for sale on XX/XX/19. Pennymac refused to halt forclosure proceedings even though my house was up for sale.
After borrowing money for various relatives I was able to wire {$4800.00} on XX/XX/19 as requested by pennymac letter date XX/XX/2019. Pennymac has continuously refused to halt the foreclosure processing even though my loan is now current. Instead they have charged an additional {$4000.00} for legal processing fees. Unless someone intercedes on my behalf I fear the loss of my home.
I am seeking help with this complaint.
|
| 08/11/2015 |
Yes |
- Mortgage
- Conventional fixed mortgage
|
- Loan servicing, payments, escrow account
|
|
Web |
Servicemember |
|
We experienced a loss due to hail, and a claim was submitted to our insurance company. After getting the check, we had to submit it to our Mortgage company, PennyMac, to sign the check. They would not just sign the check, even after signing an notarized affiliated stated we will get the roof repaired with the funds.
We have been forced into a processes where they deposited the money in a special escrow account, and then made us go through a lengthy process of getting part of the money to start the job. This caused unnecessary delays in us getting our roof repaired. They had even promised to over night the check, after a ~5 day period. It took them almost 2 weeks to get the check out, and it was sent XXXX.
After getting the job confirmed I called back to get an inspector out so they could inspect the job and give us the rest of our money. They failed to contact the company doing the inspection in the time they said they would ( XXXX hours ). Luckily I had pressed them to give me that companies name and number when I contacted them about getting the inspection.
We are still trying to get the inspector out here so they can pay us the money to pay the contractor. PennyMac had demonstrated incompetency, lack of commitment, and have processes in place that force all the responsibilities on the consumer, instead of themselves since it is their requirements. I have spent hours on the phone trying to manage them, trying to work with my roofing contractor as he deserves to get paid for the work.
|
| 07/09/2019 |
Yes |
|
- Trouble during payment process
|
|
Web |
Older American, Servicemember |
|
Penny Mac is unethical in their business practices ( this is a bold statement ). After retiring from the Department of the XXXX as a Civilian with 31 years of Government services, and 3 years in the United States XXXX ( Veteran ) I have never experienced any Mortgage problems with any loan. The original loan was with XXXX XXXX XXXX XXXX, however, they transferred the loan to Penny Mac. Penny Mac changed my biweekly payment plan, only reviewed my escrow account once ( projection are not in keeping with commercial practice ), and inform me they are a Debt Collection/Debt Collector Company. I have to guess when they will charge my account for the next mortgage payment. By during biweekly payments, they require a month in advance ( why )? Penny Mac computers systems and payment systems are outdated. If you make an unscheduled payment, not for the full amount their systems tell them they can not or they will need more time to make the payment in the computer system or payment system ( when do computers systems tell you how to do transactions? ) It is all about the systems, systems, not the customers. " We are a Debt Collector '' is what they tell every customer on every call, an I mean " Every Call, '' Penny Mac say by-law they have too ( someone needs to look at the Law or change the law ). What is my point? Changing my biweekly payment, and escrow account not being projected. The Fair Debt Collection Act 15 United States Code, Section 1692.
Thank you for taking the time to read my concerns.
|
| 03/15/2016 |
Yes |
|
- Loan modification,collection,foreclosure
|
|
Web |
Older American |
|
We have a mortgage through PennyMac. My husband has not worked for 5 years now and he is not really able to work now because of health issues. He called PennyMac and asked them about removing the PMI from our loan to lower the payment. In the conversation, the person he was speaking to told him that he would be better off if he missed a payment, that way he would qualify for some of the new programs that help people who are behind in the payments. So we talked about it and decided to do that and then we used the money to pay some utility bills that were in arrears. Then they told us that we did n't qualify for any of the new programs and started being very aggressive about collecting the payment that we missed. Now, each month, they show that we are 30 days late on our payment. That 's 4 months that we have on my husband 's credit that shows we are 30 days late on the mortgage which makes it so that we ca n't do a VA loan to get the PMI off our payment. This month they sent us a letter saying they were going to foreclose because of the missed payment. My husband told them he only missed it because they told him to miss it but they said " No, we would never have told you that. '' We do not have the money to make up the late payment, but there should be someway they could put that payment on the end of our mortgage and remove the 30 days late notices they 've been putting on our credit so that maybe we could refinance and pay some of our bills and still have a mortgage payment we can afford.
|
| 11/11/2019 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
Servicemember |
|
Penny Mac home loans has mismanaged my escrow account. I spoke with them over a week ago about my insurance being paid. I paid it myself since I had changed companies. They told me I would be reimbursed for the amount that they had escrowed insurance and would no longer charge me the monthly escrow for insurance. They did not do that and do not have the funds that they collected anymore. PennyMac claims that they have sent this to my insurance company, however XXXX XXXX confirmed that they have not. I called PennyMac to be refunded for the money that I gave them and they will not refund it, and also will not stop collecting money from me for escrow even though it is unnecessary. I spoke with a woman named XXXX who told me her extension is XXXX however when I tried to call back to speak with her again about insurance saying they had not received the money from PennyMac, I was told that that is not enough information to find someone. I spoke with five different people at PennyMac none of them seem to know where my escrow money is and I'll have told me that they will not be refunding me anything. I also spoke to them about my escrow for taxes since they have the wrong amount for that. again, they have said they will not refund me for the extra money that they have collected from me. I would like to stop escrow with PennyMac so that I can pay the correct amount of my bills on my own, however PennyMac refuses to stop charging me for escrow and can not seem to tell me where my escrow money is.
|
| 03/01/2023 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Applying for a mortgage or refinancing an existing mortgage
|
|
Web |
Older American |
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On XX/XX/2023, my husband and I decided to refinance our home in Florida. The address is XXXX XXXX XXXX XXXX. XXXX XXXX XXXX, Florida, XXXX. We submitted many documents and thought we had completed the process. Our loan officer continued to ask about our student loan information, which we provided. During his conversation, he stated that because we didn't have a clear picture of how much we would pay to these loans, our interest rate would have to increase to 7.48 %. We only pay 3 % on our mortgage, so we decided to cancel the application on XX/XX/XXXX. However, we kept getting emails from the company to provide more documents. Once again, we called and informed the agent that we were not going forward with the refi. On XXXX we received a letter of incompleteness, and on XX/XX/XXXX, we received a letter for Payoff demand. We called again to express our concern for these letters. The representative at PennyMac told us to disregard these letters. Yesterday, XX/XX/2023, we received an email, which was the final annoyance. It was a statement of credit denial, termination letter. I called PennyMac, and the representative stated this will not go against my credit report, I disagree. It's a denial letter from a mortgage company.She stated this is the policy of PennyMac to send these letters. This is a bad policy, especially if the consumer has cancelled the application to refinance their loan.She stated she would pass this information over to the Loan officer, but, don't believe they will call.
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| 12/03/2019 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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I recently refinanced a mortgage through a loan broker and the mortgage account was purchased by PennyMac mortgage. Loan # XXXX originated on XX/XX/2019. Since that time I have had issue after issue ( I am a 15 year XXXX XXXX ) navigating their payment and autopay process.
There was no correspondence sent out prior to the 1st mortgage payment being due, nor how to pay, nothing. I was surprised by an unpleasant voice message from their debt collection group. I immediately call PennyMac and after a 45 minute wait I facilitate payment over the phone and was charged a {$15.00} convenience fee.
At that time I requested to be set up on automatic payment and was told by the PennyMac representative that it would be implemented.
Fast forward to today and I receive another call from PennyMac 's collections group asking me to verify my address and other personal info. When I refuse ( this is an incoming call asking me for my personal info ) they request I call XXXX to speak to one of their collection agents. When I dial the number provided I am told there are 87 calls in que ahead of me and to expect a 50 minute wait. I log in online to make a payment and check on the autopay set up. I am not allowed to " set up '' auto pay because my account is " delinquent ''.
So, I am now on hold for over 45 minutes awaiting the opportunity to make a payment to a company that has apparently reported me delinquent to the credit bureaus because they failed to set up the autopay as promised.
XXXX XXXX
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| 01/10/2022 |
Yes |
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Web |
Servicemember |
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Unwanted fee/charges are being added to my monthly mortgage without my knowledge or consent. I have had XXXX '' barrower requested title search '' Put on my mortgage from XXXX XXXX to XX/XX/2021. At No time did this Barrower Request Such a thing.
Statements : XXXX 2021 13 title searches {$420.00} We paid XX/XX/2021 XXXX title searches and attorney Fee {$450.00}. We paid XX/XX/2021 XXXX title searches {$360.00}. We paid XX/XX/2021 XXXX title searches {$320.00} I did not pay!
XXXX-Called customer Service at Pennymac, was told these charges are from my " municipal ''.
I asked exactly who that was - never got a straight answer, Just told My town. I Told pennymac rep then to stop charges. THis was against my knowledge and consent.
The next month Sent email, Asking about new charges and attorney fee. My last email in XXXX I stated, That all of these charges being put on my mortgage without my knowledge, and consent was against my privacy rights. Where are my Rights in this issue when Anyone " municipal " or whoever can have charges added to your acct without you knowing.
Pennymac has held up the sale of my home, I was suppose to close on this home End of XXXXXXXX XXXX months later we are still waiting to close, with that being said, I truly do not need all of these extra charges on top of the expense of 2 households. They have had no regards for our privacy or our wellbeing as a customer with outstanding good credit and credit history with them.
Pennymac needs to refund ALL fees.
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| 02/02/2021 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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My loan was sold from XXXX XXXX to PennyMac. When the loan was sold, my escrow account information was inaccurate, leading to me owing over XXXX more per month. The issue took 3 and a half weeks to resolve, and was just resolved after 11 phone calls and a supervisor from XXXXXXXX XXXX calling them and emailing them for weeks.
On multiple instances, the error in documentation was found ( multiple errors ) from emails that XXXX XXXX sent to Pennymac, and it turns out they had the wrong persons account information under my escrow account. They refused to acknowledge the mistake, no matter how many times we noted the mistake and told them to correct it. They also did not respond to any emails ( 8 automatic replies 3 weeks later ) and never sent me any documentation of any sort about the changes/ decisions that were made. Each time when I called, I received different information about how to respond, who to go to, and timeframe for response. I was also told they would not change the amount owed, even though it was different from my closing disclosure. Eventually, I just needed to be on the phone for two hours and demand they fix it immediately, which led me to a supervisor who was able to correct the error.
Very, very disappointed in the company, they clearly do not know how to resolve issues, nor have an interest in resolving issues. My advice to anyone is ask for a supervisor immediately and demand that the issue be resolved while on the phone, otherwise follow-up will not occur.
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| 08/30/2022 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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I have spent 40+ hrs with PennyMac escrow team working to get updated tax payment amounts, interim tax payments, and updated assessment from the county. I have sent them documents from the county, created XXXX spreadsheets with all the relevant information, and spent hours on the phone with their reps.
Multiple times I have given explicit payment instructions and they have just ignored them. Depending who answers the phone they could be average help or completely incompetent at their job.
I explicitly told them I would like a tax payment made in XXXX when it is due. They went ahead and paid it in XXXX. I called the day after the payment was made to have it cancelled and returned. The rep only put a note in to pay in XXXX with no action item to have the payment returned as I requested.
I spoke to a manager once and was able to get a lot of these issues fixed, he was at least able to make changes immediately. Otherwise every response is I have to put a ticket in and it will take x business days to complete. Unfortunately, the phone number he gave went out of service and every time I called and asked for him he ignored my call and never reached out. When I said the extension did not work they blew me off again saying that was the correct number.
I can't even begin to describe how frustrating it is to have a company hold so much of your money and have zero control. Not only that trying to work with them to create a plan is useless because they just ignore the instructions.
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| 09/12/2020 |
Yes |
- Mortgage
- Conventional home mortgage
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Web |
Older American |
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Penny Macs Loan # XXXX ____________________________ Final closing disclosures,, sent by Penny Macs XXXX XXXX on XXXX XX/XX/XXXX had erroneous escrow requirement for property insurance.
XXXX XXXX actual premium is {$1000.00} ( {$87.00} per month XXXX.
XXXX calculated this premium at {$270.00} per month ( {$1900.00} deposit for 7 months ), and listed the monthly mortgage payment at {$2500.00} per month.
PennyMacs original loan estimate listed monthly payment, including escrow, at {$2400.00} per month., at 2.5 % interest, with XXXX points.
My current mortgage payment with XXXX XXXX is {$2500.00} at 3.5 % with zero points.
Obviously, XXXX Final Loan Disclosures, sent to me for eSigning, were unacceptable.
I contacted XXXX. She blamed the error on some other department.
PennyMacs XXXX XXXX called to say he had been assigned to take over the loan closing and make it work ( sic ).
Subsequently, he emailed me on XXXX XX/XX/XXXX, saying : We plan to have new closing disclosure for you tomorrow.
The loan was due to be funded on XXXX XX/XX/XXXX.
New loan disclosures were never sent to me.
I called XXXX again. He checked his record and said that the new disclosures had NOT been sent, and if I did not like what XXXX had sent me on XXXX XX/XX/XXXX, he can cancel the loan.
Had the corrected Final Loan Disclosures been sent to me, I would not have cancelled the loan.
XXXX has since corrected her error, but PennyMacs XXXX XXXX says he can not make any adjustment now.
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| 01/20/2021 |
Yes |
- Mortgage
- Conventional home mortgage
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
Older American |
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In XX/XX/XXXX, I attempted to refi my mortgage through 5 company which includes my current mortgage holder. Because my debt to income ratio is high due to retirement, I was refused. After filing a complaint, my current mortgage holder suggested a Covid forbearance plan : " You have been approved for a Forbearance plan. We know these are challenging times, so in order to provide you with short-term payment relief, we have accepted your forbearance request and your plan is now active. '' I accepted this as a stop gap to save my home that was purchased in XXXX. My Point of Contact ( POC ) said that a refi can not be performed because of the debt to income ratio and because of the investors ' interest.
Well, now that I have been approved for the Forbearance Plan, I am receiving email offering : " Thinking about buying a new home or investment property soon and wondering how you can save more with PennyMac? Let us count the ways ...
{$1100.00} Discount* Historically Low Rates Low Down Payment Options Homebuyer Tip : Get your free pre-approval with a PennyMac loan expert before you start home shopping! Then youll be ready to make offers and take advantage of your discounts with PennyMac. '' I realize that this advertisement is not a guarantee loan. I can not qualify for a refi but receive information regarding financing with new home loan at lower rates.
Why not protect your " investors '' with a reliable home mortgagee holder with a permanent lower rate than a temporary fix?
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| 07/05/2021 |
Yes |
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- Trouble during payment process
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Web |
Older American, Servicemember |
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I called you exactly on XX/XX/2021, and specifically requested for you to STOP AUTOMATIC DEBIT FROM MY PERSONAL CHECKING ACCOUNT MY MONTHLY MORTGAGE PAYMENT FOR XX/XX/2021. I spoke directly with your customer service number representative. You ( PennyMac ) went ahead and deducted XXXX 's mortgage payment on the XXXX, completely ignoring my customer request. I want the mortgage payment to put back into my checking account immediately along with the over-draft fee of {$32.00} my bank charges my account. This is the second time I have had trouble with you ( PennyMac ). I am reporting your unprofessional and unwanted activities about my account with you to the XXXX XXXX XXXX, Federal Trade Commission and Consumer Financial Protection Bureau as complaints with the way you conduct your business.
Last month you called me on the XXXX and left a message about my loan payment being late, when it is not late until the XXXX of the month, and now this incident. I do not know why as a holder of my mortgage that you keep bother my account. I believe it is because I am a XXXX woman and a veteran. You advertise as being the best in helping veterans with Home Loan and that is not the truth. I am seeking to find a better mortgage company as soon as possible. I am sick of your harassment of my home loan. I have been a faithful accurate paying customer. I will not accept this type of business conduct from any merchant. I am also notifying the Veterans Administration about your services to VETS!
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| 12/08/2021 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
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- Incorrect information on your report
- Account information incorrect
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Web |
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When COVID-19 first shut down the country my wife and I had a significant reduction of income. Not knowing how long this would last we used our savings and credit cards to continue paying our bills and expenses. However, as the shutdown continued, we applied to PennyMac for forbearance with our VA loan under the CARES Act. They assured us this would not negatively impact our credit report according to changes to reporting forbearance in the CARES Act. We only used two months for forbearance of which our mortgage statements in XX/XX/2020 and XX/XX/2020 were annotated as " Disaster Forbearance Plan Amount Dut {$0.00} ''. Before the end of XXXX our income from my XXXX XXXX resumed and my wife 's XXXX XXXX income resumed so that we could exit forbearance and resume normal payments. We contacted PennyMac and completed the necessary paperwork to restructure our loan and add the two payments to the end of our loan. Within 30 days of ending forbearance, we sold our home in XX/XX/2020 and paid off the entire mortgage amount to include the two months of forbearance. Subsequently when we applied for a new home mortgage with XXXX XXXX, they informed us of two discrepancies on our credit report showing missed payments in XXXX and XX/XX/2020. We immediately contacted PennyMac through their messaging service and informed them of these errors and they responded they would not make any corrections to our credit reports despite the CARES Act requiring forbearance accounts to show as current.
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| 02/16/2023 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
Servicemember |
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- Contacted PennyMac in XX/XX/XXXX to have our Homeowners insurance paid direct from us instead of from our escrow account - Contacted PennyMac multiple times ( XXXX through XX/XX/XXXX ) because PennyMac would not change responsible party for Homeowners insurance from mortgage company to borrowers behalf - Set-up a payment plan with XXXX for direct billing to us for our Homeowners insurance in XX/XX/XXXX - Sent PennyMac a XXXX Insurance Contract showing Homeowners insurance coverage through XX/XX/XXXX - Received our first monthly bill from XXXX for a XX/XX/XXXX payment - Contacted PennyMac on XX/XX/XXXX with a resend of notification to the escrow department to adjust our escrow because we were being direct billed for Homeowners insurance - Contacted PennyMac on XX/XX/XXXX with a resend to change responsible party from mortgage company to borrower for Homeowners insurance - Contacted PennyMac on XX/XX/XXXX that we would notify CFPB if changes were not made - On XX/XX/XXXX, PennyMac sent a full annual payment from our escrow account to XXXX without our permission and ignoring all items listed above - Contacted XXXX on XX/XX/XXXX and XXXX attempted to void the payment, but apologized because they could not.
- Logged into our PennyMac account on XX/XX/XXXX to capture all message information and all message information on our account ( ALL history of communication between we the borrowers and PennyMac has been deleted ). We will include files we have saved in this complaint.
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| 01/19/2016 |
Yes |
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- Loan modification,collection,foreclosure
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Web |
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XXXX of my parents died in 2014 and their names were on the mortgage held by Penny Mac. After they died, as their executor of their estate, and their daughter, I tried to get Penny Mac to talk to me concerning their mortgage because I was having trouble paying the mortgage at the time and could not afford to hire an attorney to start their succession. I needed to restructure the loan, but they would not help me because the mortgage was in their names. Penny Mac told me on XXXX different occasions to send in their death certificates and wills, which I did and they would help me. I sent them on XXXX different occasions and also sent them copies through email and when I would call they would give me the runaround, like they never received them, they were n't in the computer, the law department had not seen them and signed off on them yet, etc. They sent me a foreclosure notice and now the home I have been living in for 40 years is going to be sold next week at auction and because they would not work with me, I am now forced to file bankruptcy on my parents estate to stop the foreclosure. I have been told that Penny Mac Board of Execs are made up of the people who caused the housing meltdown and are getting double paid for houses going into foreclosure, through insurance and monies collected through foreclosures. Their names are on the mortgage and the succession has not been done yet, so this ca n't legal, can it??? Penny Mac seem unable to helpme and want me to lose my home.
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| 09/15/2020 |
Yes |
- Mortgage
- Conventional home mortgage
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Web |
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I have two complaints for PennyMac, both of which I have contacted them on. The first complaint has to do with my first mortgage that was obtained with PennyMac in 2015. I recently paid off the mortage and the account was automatically closed which has caused my credit score to drop by more than 80 points. The payment of my mortgage balance should not impact my credit. I have filed a complaint with teh credit companies and have Called Pennymac and asked them why did they report the account as closed. I have obtained other mortgages with other companies and while they are paid off the account remains open with a XXXX balance.
My second complaint is around another loan that I recently obtained from Penny Mac on XX/XX/XXXX, PennyMac transposed my house address ( instead of writing XXXX, they write XXXX ). I have called the company three times to report this and the issue has not been resolved. I am being threatened by the mortgage company to take insurance on a property that I do not love in. The correct property address has insurance and evidence of the insurance was provided at closing. Since they fail to update the address in their system, I am being told that the mortgage company will take insurance on the incorrect property address on my behalf and I will have to pay for it. I am not sure why I would have to pay for insurance on a property that is not mine. I need help resolving this issue. I have tried my best to work with the company and I am not getting anywhere.
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| 03/14/2023 |
Yes |
- Mortgage
- Conventional home mortgage
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- Struggling to pay mortgage
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Web |
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In XX/XX/XXXX, I contacted PennyMac to request a forbearance plan. This was requested due to a reduction of income due to Covid-19. Additionally, while I was on the forbearance plan I was consistently told that there would be no credit reporting. In XXXX of XXXX my loan was submitted for a streamlined modification and this modification was approved. Again, I was told that this modification would not impact my credit and that there would be no credit reporting.
However, on XX/XX/XXXX I realized that PennyMac had submitted a 120 day late notice to the credit bureaus. I have called several times since XX/XX/XXXX and was told that this should not have been reported to the credit bureaus and that it would be removed. I was promised a call back with 48 business hours but never received one.
Today, on XX/XX/XXXX, I called PennyMac and was told that they would not remove the credit reporting because my modification was not setup as a Covid-19 modification. I believe this is an error as my loan should have been setup as Covid-19 forbearance/modification. Also, for the entire time I was in forbearance, I was told that no late payments would be reported to credit bureaus.
I believe PennyMac needs to correct this because ( XXXX ) they did not setup my loan correctly as a Covid-19 forbearance plan and ( 2 ) they consistently told me that no credit reporting would happen during many of the calls I've had with them since XX/XX/XXXX.
Sincerely and appreciatively, XXXX XXXX
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| 06/10/2021 |
Yes |
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
Older American, Servicemember |
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On XX/XX/2021 I started an application for refinance of a VA mortgage held by Penneymac. My information was taken over the phone by a Loan Agent. I next received a secure encrypted message with loan documents to be " E-signed '' and after complying with this request I received a notice that a NOTARY PUBLIC would visit my home to notorize documents. On XX/XX/2021 two people arrived. They informed me that my wife and I would be required to manually sign 52 documents. I informed them that my wife is XXXX years old and suffers from XXXX XXXX. I then asked if I could sign for her, he replied that " Only if I had Power Of Attorney ''.
I strongly feel that this requirement should have been disclosed prior to the application process start. I feel that they deliberately withheld this important item for fear we would not proceed with the application.
I then called to speak to Processing Agent, she was not available.
I then asked for Loan Agent, he was not available either. I then asked for a manager. After a long hold I was connected to a woman who said she was a manager. She started off with a clear voice asking for my name and personal information BUT when she had to reply to my questions for information, her voice suddenly got unintelligible. When I complained she said she would hang up and call back. She never called back. One other thing : I CLEARLY ASKED TO WITHDRAW MY APPLICATION & RECEIVE A CONFIRMING MESSAGE. This they failed to do also.
EXISTING LOAN NO. : XXXX
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| 04/27/2022 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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Pennymac loan company bought my mortgage. My escrow payment increased and they did not notify me. I have the payment set to autopay, so my mortgage payment was {$50.00} short. Pennymac did not apply my mortgage payment and instead held the payment in suspense. They did not send a letter or an email. I called them, and they informed me that I have to check my inbox on their website. There is no other way I could've learned about the changed payment amount.
I learned about the changed payment amount after Pennymac left me multiple voicemails asking me to call them without explaining the purpose of their call. I called them back three times and waited on hold for over 20 minutes each time. After finally being connected with a person, I learned my payment was short. That person was unable to change the account settings to start mailing paper notices.
I went to their website and logged in, and changed the communication settings to receive notices by mail. I attempted to make a payment for the additional {$50.00} due, but their website would not permit me to make the payment. It would only permit me to make a full mortgage payment without reduction for the nearly full payment they have held in suspense. This is effectively charging me my mothly mortgage payment twice.
I am highly disappointed in their service ( or lack thereof ). I look forward to my loan being bought by another servicer in the future and I do not want to continue doing business with this company.
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| 09/20/2017 |
Yes |
- Mortgage
- Conventional home mortgage
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- Struggling to pay mortgage
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Web |
Older American, Servicemember |
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XX/XX/XXXX I BORROWED {$67000.00} FROM XXXX.. TO THIS DAY THEY HAVE SAID I BORROWED {$210000.00}. MY MORTGAGE PAYMENT WAS {$1800.00} PER MONTH.
I WROTE THEM AND ALSO CALLED THEM AND TOLD THEM I COULD NOT PAYMENT AMOUNT OF MONEY PER MONTH MY INCOME WAS NOT COVERING THAT. THEY TRIED TO FORECLOSE ON ME IN XX/XX/XXXX. I HIRED XXXX XXXX XXXX OUT OF XXXX FL/XXXX XXXX FLORIDA. WE WENT TO COURT OVER THIS MATTER AND XXXX THEN SOLD THE MORTGAGE NOTE TO PENNYMAC LOAN LLC. PENNYMAC CONTIUED WITH SAME PRACTICE THAT XXXX HAD PERFORM CONCERNING HOW MUCH I OWED BACK. THE AMOUNT WAS NOW {$1400.00} PER MONTH. THEY LATER MODIFIED THE MORTGAGE MONTHLY TO {$1100.00}, JUST RECENTLY ( XX/XX/XXXX TO XX/XX/XXXX ) SINCE XX/XX/XXXX I CONTACTED PENNYMAC AND TRIED TO REASON WITH THEM ABOUT THE {$1100.00}. XXXX BIENG TO MUCH. WED., XX/XX/XXXX IN FORMING ME THAT THEY HAVE SOLD THE MORTGAGE TO XXXX XXXX XXXX CUSTOMER SERVICE DEPT. XXXX XXXX XXXX XXXX XXXX XXXX XXXX IL XXXX/ PAYMENT OFXXXX XXXX XXXX XXXX XXXX XXXX TX XXXX. PENNY MAC TOLD ME THAT EVERY TIME THE NOTE IS SOLD THAT THE BUYING COMPANY ADD TO THE PRINCIPAL MAKING THE AMOUNT OWED GREATER WITH EVERY BUYERS PURCHASE OF THE NOTE. WITH XXXX BACKING PENNYMAC WITH SAME STATEMENT. I WENT FROM BORROWING {$67000.00} TO OWING {$21000.00} PRESENTLY. LOAN # XXXX NOW THE ESCROW THAT I WAS PAYING ING MY PAYMENT HAVE BEEN CANCELED, WITH XXXX XXXX XXXX. IT IS NOW MY RESPONSIBILITY. IF MY ESCROW IS PAYED UPTHEN WHY DID INOT RECEIVE THE OVER PLUS?????
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| 07/12/2021 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
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- Incorrect information on your report
- Information belongs to someone else
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Web |
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I've been disputing fraud accounts on my credit report since XX/XX/2020. I keep sending multiple sets of letters to the bureaus and the creditors so the excuse of " we didn't get it '' doesn't happen. Furthermore, each letter is certified mail with tracking and each letter shows signed and delivered and yet the bureaus are still not taking any actions. The accounts are not showing in dispute nor are they removed from my report. The accounts always show up with different name variations and different account number variations and yet the bureaus seem to ignore the trend and let these fraud accounts affect my credit score. I have requested the investigation to be initiated and also verifiable proof to be submitted should the account claim to be mine. Not only have I not received any mail showing the verifiable proofs needed to justify the accounts to be on my report, I haven't even received any letters at all stating the investigations have begun. Per the FCRA and federal law, the process is supposed to be 30 days. 200 days later, I'm still here shelling out money for certified mail with no end in sight and no results to show. This is my last option before I take this up with my lawyers and sue for full compensations and damages incurred. Finally, it seems that when these complaints are submitted, the bureaus are using the excuse that they " can't confirm my identity '' to get away with taking no actions on my credit report. Please investigate this as well.
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| 07/02/2021 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
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- Incorrect information on your report
- Information belongs to someone else
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Web |
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I've been disputing fraud accounts on my credit report since XX/XX/2020. I keep sending multiple sets of letters to the bureaus and the creditors so the excuse of " we didn't get it '' doesn't happen. Furthermore, each letter is certified mail with tracking and each letter shows signed and delivered and yet the bureaus are still not taking any actions. The accounts are not showing in dispute nor are they removed from my report. The accounts always show up with different name variations and different account number variations and yet the bureaus seem to ignore the trend and let these fraud accounts affect my credit score. I have requested the investigation to be initiated and also verifiable proof to be submitted should the account claim to be mine. Not only have I not received any mail showing the verifiable proofs needed to justify the accounts to be on my report, I haven't even received any letters at all stating the investigations have begun. Per the FCRA and federal law, the process is supposed to be 30 days. 160 days later, I'm still here shelling out money for certified mail with no end in sight and no results to show. This is my last option before I take this up with my lawyers and sue for full compensations and damages incurred. Finally, it seems that when these complaints are submitted, the bureaus are using the excuse that they " can't confirm my identity '' to get away with taking no actions on my credit report. Please investigate this as well.
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| 07/01/2021 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
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- Incorrect information on your report
- Information belongs to someone else
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Web |
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I've been disputing fraud accounts on my credit report since XX/XX/2020. I keep sending multiple sets of letters to the bureaus and the creditors so the excuse of " we didn't get it '' doesn't happen. Furthermore, each letter is certified mail with tracking and each letter shows signed and delivered and yet the bureaus are still not taking any actions. The accounts are not showing in dispute nor are they removed from my report. The accounts always show up with different name variations and different account number variations and yet the bureaus seem to ignore the trend and let these fraud accounts affect my credit score. I have requested the investigation to be initiated and also verifiable proof to be submitted should the account claim to be mine. Not only have I not received any mail showing the verifiable proofs needed to justify the accounts to be on my report, I haven't even received any letters at all stating the investigations have begun. Per the FCRA and federal law, the process is supposed to be 30 days. 200 days later, I'm still here shelling out money for certified mail with no end in sight and no results to show. This is my last option before I take this up with my lawyers and sue for full compensations and damages incurred. Finally, it seems that when these complaints are submitted, the bureaus are using the excuse that they " can't confirm my identity '' to get away with taking no actions on my credit report. Please investigate this as well.
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| 12/12/2017 |
Yes |
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- Trouble during payment process
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Web |
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I received a letter in the mail from my mortgage servicer, XXXX XXXX who took over my mortgage shortly after I purchased my house. The letter was dated XXXX XXXX, 2017, but I received it on Friday the XXXX. The letter stated that they did not have information regarding my homeowner's insurance policy. I logged into the website, and it shows that they have the information of XXXX XXXX XXXX, which is the homeowner's branch for XXXX. They also had the policy coverage information as well. PennyMac claimed to not have any insurance information over the phone. I called XXXX to have them fax the policy information. I was told that the policy had been cancelled the month prior in XX/XX/XXXX due to nonpayment. I had to pay out of pocket to reinstate my insurance, which will result in no lapse in coverage with the reinstatement. PennyMac is failing in its contractual obligations and fiduciary duty to manage my escrow account. The escrow transactions show there has been no payment for insurance on my home.There are consistent complaints, and there was recently a class action settlement with PennyMac regarding lender-placed insurance with new companies that charge much higher rates. It is clear that PennyMac has a consistent policy of not paying insurance premiums so it can force a cancellation to justify a lender-placed insurance with one of its "preferred" companies who charge excessive rates and most likely give PennyMac a kickback as some form of referral fee.
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| 08/16/2016 |
Yes |
- Mortgage
- Conventional fixed mortgage
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- Loan servicing, payments, escrow account
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Web |
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This company has horrible customer service. They tell me something different every time I call. They say they will call back and I never hear back from them. They say they will send me documents in the mail and they never come. At the present time I am trying to settle a matter of mortgage insurance ( PMI ). I called in mid XXXX to ask them to schedule an appraisal of our home to get rid of PMI. They said it would be a 2 to 3 week process. They scheduled the appraisal, which was done on XXXX XXXX, and then we heard nothing from them. I called in XXXX and was told that they had no idea what was going on with it. I called again a week later and they said it appraised for enough to get rid of PMI but it still needed a manager approval. I waited another 10 days before calling again. Still no manager approval. My bill for XXXX still had PMI required as payment ( {$200.00} ). I talked to them over the phone and asked what would happen if I paid the payment with mortgage insurance still included in my payment. They told me I would get it refunded to me ( {$200.00} ). Next thing I know, they sent me a check for only {$20.00} and said that was all I was eligible to be refunded. Currently I am waiting to hear back from them on this matter. I spent 2 hours on the phone with them 2 days ago, being transferred from one person to another who had no idea what to do. They finally said someone would call me back. No one has called me back and it has been over 48 hours.
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| 06/29/2016 |
Yes |
- Mortgage
- Conventional fixed mortgage
|
- Settlement process and costs
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Web |
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On XXXX/XXXX/XXXX I had water damage to my home. My insurance company, XXXX covered the claim. The check for the damages was written to both PennyMac and myself. I endorsed the check and submitted it to PennyMac. I notified them that all work was completed. When they had not released the funds by XX/XX/XXXX, I called to inquire. They said they were still in need of a final inspection. The inspection was completed on XXXX XXXX, XXXX. When I still had not received the release of funds, I called PennyMac XX/XX/XXXX. The agent looked over my file, apologized for the delay and said that funds were now going to be released and that I would receive a check in approximately XXXX business days. Two days later another agent called me. I returned the call and was told that they required signatures from me and my contractor for the original bid. She told me the forms would be emailed to me within two days. Now, on XXXX XXXX, XXXX, I still have not received the forms. On the copies of the documents I have, the bids are signed. I called PennyMac Loss XXXX Department and spoke with a manager, XXXX. XXXX said she would " look into it ''. She placed me on hold for over 30 minutes and then the call was disconnected. I have explained the importance of getting this settled immediately. My family is moving. Our has is under contract with a buyer and scheduled to close on XXXX XXXX. The sale will likely be blocked by a contractor lien if PennyMac does not release the funds.
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| 04/08/2023 |
Yes |
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- Trouble during payment process
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Web |
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I make biweekly auto payments on my mortgage loan in the amount {$1200.00} each for a total of {$2400.00} a month. I call the company and they enter 6 auto payments at a time for me. My current required payments amount is {$1800.00}. The payment breakdown should be principle- XXXX, interest : XXXX, Tax and insurance {$430.00}, extra principal reduction XXXX, extra XXXX to excrow account. I always pay a month before for the payments are due, but my mortgage company delays posting the my auto payments in the correct account, becuase the put everything in a escrow account. I always to call the company to verify if the payments are posted to the correct account. They send me laye payment notices and try to charge me extra on interest and late fees. The extra {$120.00} principle reduction payment they reverse out the payment every month, and I don't know were the money goes. Then recently they sent me a escrow check for {$800.00}. When I try to stop the payment or send the money back, they refuse it.
It's like I am getting penalty for doing the right thing and trying to pay my mortgage ahead. Not to mention the extra interest payments they are receiving for denial me access to earily payments. I called and talk to company multiple times ( 12 times ), I get the run around, and this whole experience is scary, because they are always saying my payments is late.
I requested hard copies of my payments information and they refused.
Can some please help me!!!
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| 11/15/2021 |
Yes |
|
- Struggling to pay mortgage
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Web |
Servicemember |
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I have a va loan through pennymac mortgage. For the past 6 months since the covid 19 benefits have started to be taken away, the forbearance plan that my house is in since XX/XX/XXXX, is set to end on XX/XX/XXXX of this year. I separated from the XXXX in XX/XX/XXXX and I started working out of state in Texas. My home is located in XXXX Mississippi, unfortunately this out of state working has cost me more money and I have taken a significant pay cut since I left the XXXX.
When covid hit, I put my home in forbearance and haven't had the money to be able to make a payment for the entirety of the plan. For the past 6 months pennymac has been contacting me through an automated phone service. I applied for a mortgage assistance plan with the basis of it stating that I wanted to extend my mortgage out and bring my loan current so the payments could lower.
They recently told me, for the first and only time that I was called by a human, that my application for modification was denied. Because of insufficient cash flow. Which was the entire reason I submitted the application in the first place. I can not for the life of me get ahold of an actual person at pennymac or anyone on my point of contact team. The numbers they list on their website either don't work or never get to an actual person.
I'm sorry that this complaint is so long but this has been unbelievably frustrating not being able to get any kind of help from the company that promised to help me.
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| 06/20/2020 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Struggling to pay mortgage
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|
Web |
Servicemember |
|
I applied for a 3 month forbearance plan due to COVID-19. It was scheduled to end XX/XX/XXXX with my total deferred payment and monthly payment being due on XX/XX/XXXX. I called Penny Mac to discuss repayment options as paying the entire amount back at once is a hardship. I called on or around XX/XX/XXXX to try and be pro-active to work out the payment details. The individual I spoke with kept pushing me to wait until XX/XX/XXXX ( 7 days late ) and I would hear something from them by then. I'm not going to wait until I'm late to make an arrangement that sounds like a poor plan. After speaking with him and giving some financial information he said I wasn't eligible for anything and needed to wait and kept pushing me to wait until I'm late with my loan ( bad plan ). I asked to speak with his supervisor and spoke with her. We re-checked my financial information provided and she offered me a 4 month repayment plan starting XX/XX/XXXX and ending XX/XX/XXXX with the money owed split into 4 equal payments. Over the next week or so I got a number of mailings with very confusing and conflicting information from what I was given over the phone and basically said my repayment plan was denied. I waited until my monthly statement and next payment due showed up, which conveniently wasn't until XX/XX/XXXX and Penny Mac customer service is closed, to see indeed my entire amount is due this next payment on XX/XX/XXXX. Very deceiving and late/slow practices here.
|
| 01/21/2022 |
Yes |
- Mortgage
- Other type of mortgage
|
- Struggling to pay mortgage
|
|
Web |
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XXXX, loan servicer indicates resuming payments after Covid 19 hardship forbearance is not an option on USDA GUARENTEED 502 loan due to USDA guidelines, however CARES Act Forbearance Fact Sheet for Borrowers with FHA, VA, or USDA Loans Announcement says : USDA XXXX XXXX XXXX Guaranteed Loan MortgagesHide USDA XXXX XXXX XXXX does not require a lump sum payment at the end of the forbearance.
If you can resume making regular payments your servicer or lender should either offer an affordable repayment plan or term extension to defer any missed payments to the end of the loan. If you are unable to resume making regular payments, your servicer or lender should evaluate you for all available loss mitigation options.
Upon completion of the forbearance, the lender shall communicate with the borrower and determine if the borrower is able to resume making regular contractual payments. If so, the lender shall offer the borrower a written re-payment plan to resolve any amount due or, at the borrowers request, extend the loan term for a period that is at least the length of the forbearance.
Visit USDA XXXX XXXX coronavirus website for more information on forbearance for USDA guaranteed loans.
PennyMac indicates precovid delinquent however no indication or notice of payment issues provided by pennymac allowing the opportunity to address. Account reported as current to credit bureaus XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, and XX/XX/XXXX prior to pandemic.
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| 03/02/2017 |
Yes |
|
- Loan modification,collection,foreclosure
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|
Web |
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We stopped to pay our mortgage since XXXX. I could n't work for a year because my XXXX babies came, so I quit to take care them. Months later my husband lost his job and we struggled with everything. By XXXX Penny Mac offered us and program for 9 moths that we can pay XXXX dollars per moths, but finally by XXXX I called them and I told that we were ready to pay our full monthly payment ( XXXX ). Then, they told us we need to start a Modification program and need to qualified, because I requested that wherever we owned we will lie to be transferred to the end of our balance. However, by XXXX this process starts and we could n't make payments because " we were on the process to modification '' even if we talked them we can pay our full monthly payment like we used to do before we got in this situation. My the middle of XXXX we recieved a lawyer letter saying we will be sue for whwerere we own, few days after we got papers for the same lawyer from Pend Mac that we need to go to court. We have been trying to get in contact with them so someone can explain us why we need to go to court if first, we are waiting for the modification, we want to pay just we do n't have the balance money ( XXXX ). we want to start to pay our regular payment.
Plus they said we need to pay for their lawyers expenses. we do n't get a call for them and we want to reach them we just hear " wait '' we are working on your modification. I hope it get clearly soon__ thank you
|
| 06/20/2020 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
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|
Web |
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In order to view balances, tax documents etc with Penny Mac, one must register for an account. Part of the account registration process is to provide one 's cell phone number ( landline is not accepted ) and consent to receiving telemarketing calls from Penny Mac. The following it how the consent is worded ( copied/pasted from Penny Mac webpage ) " Communications Consent : By clicking the Submit button, I agree that I am providing an electronic signature authorizing PennyMac Loan Services , LLC and its agents ( PennyMac ) to contact me for telemarketing and informational purposes at the telephone number provided, even if I have previously registered on a corporate, state or national Do Not Call registry. I have authority to provide this consent because I am the subscriber of the telephone number or I am a customary user who has authority to consent to these communications. I also agree that PennyMac may contact me using an automatic telephone dialing system or an artificial or prerecorded message, or text messages, even if the number is connected to a service for which I am charged. I understand that I am not required to provide consent as a condition of loan consideration or approval. '' In conclusion, the only way one can manage one 's mortgage, view statements and tax statements with Penny Mac online is if one consents to Penny Mac 's telemarketing strategies. This is unethical.
Thank you for your attention to this matter.
Kind regards,
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| 06/13/2023 |
Yes |
|
- Struggling to pay mortgage
|
|
Web |
Servicemember |
|
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!
|
| 02/21/2019 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
Servicemember |
|
1. The loan servicer is PennyMac Loan Services.
2. The Loan Number is XXXX.
3. XXXX states the investor is XXXX XXXX. I have confirmed with XXXX XXXX directly tha they are not the investor.
4. I also called XXXX XXXX and they confirmed they are not the investor.
5. The only other possibility is that the loan is in a pooled Trust.
6. I have sent PennyMac Loan Services 10 Qualified Written Requests by affidavit to acquire certified copies of the Promissory Note and the Deed plus information about a forensic audit to determine who the investor ( s ) is/are. For the past 3 years PennyMac Loan Services has refused to respond to any QWR.
7. PennyMac has also modified the loan over 50 times by accounting fraud and fraudulent insurance and is forcing me to pay for these modifications in violation of a 2015 Superior Court judgement when the court ordered them to stop and pay restitution. They have refused to follow the court order and are threatening foreclosure if I don't pay them.. even though I have made every single payment on time with extra principal they insist I own them more money even after the court judgment against them.
I am requesting assistance from the CFPB to please instruct PennyMac Loan Services to immediately respond to the Qualified Written Request and provide the requested information, including certified copies of the Promissory Note, the Deed and Title, and the investment Trust information for the forensic audit.
|
| 10/06/2020 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Incorrect information on your report
- Account status incorrect
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|
Web |
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Loan # XXXX I am filing a second complaint because my issue was not addressed on the first issue that was submitted. I did not ask the company to reinstate the mortgage that was paid off. However, PennyMac should not report the account as closed. The loan was paid off in full and should be reported as such. The payoff of the loan should not negatively impact my credit score. I do not want the loan to reinstated, an account can be paid off and not reported as closed which is the reason why my credit score was impacted. I contacted the credit agencies and I was told the Penny Mac reported the account as closed. My mortgage was originally taken from XXXX and after it was fully paid the account showed a XXXX balance but was not closed. The PennyMac account shows a closed status because that is what was requested by PennyMac. The company ( that is penny Mac ) needs to properly report the details that were sent to the credit agencies in order to rectify this issue. If it was not reported as closed, I need the information that was sent to the credit agencies in order to address this issue with them. I am asking the company to properly report the loan payoff as paid off and not request the account to be closed. While PennyMac does not have a prepayment penalty, they are intentionally reporting incorrect data to the credit bureau in order to discourage their customers from paying off their loans early. This is not fair and should be addressed.
|
| 12/15/2022 |
Yes |
|
- Trouble during payment process
|
|
Web |
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I have a sent out several Affidavits requesting proof of contract with the alleged owner of my mortgage. My mortgage increased substantially and I questioned the increase. Before this fraud claim was made. I have never missed a payment or been late. The Mortgage company has refused to provide me with a current contract between myself and them they keep providing my original contract but showing me a totally different mortgage payment. I have a fixed rate and set payment yet they increased my mortgage. So I have been sending numerous correspondence requesting proof of contact and they have not shown any. I have documentation that can be provided that shows negotiation attempts on my behalf to have the company go into a contract for a conventional loan. They have refused and continue to avoid providing me with and actual contract with their name and my name on ti with my signed consent to do business with them. I have paid my property taxes and homeowners insurance in full for the year. So I do not need any types of escrow holdings or accounts from this fraudulent company. They also sent out a unknown man to my home to intimidate and stalk my wife and children by taking pictures when I approached his vehicle parked infant of my door and asked who he was he just said Pennymac sent me you need to contact them. I have survenillance footage of this incident and Penny admits they sent someone to my home but won't release the persons name.
|
| 03/14/2022 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
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|
Web |
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XXXX XXXX had a due date of XX/XX/22. We were made aware on XX/XX/22 the payment had not been received and a phone call was made to PennyMac explaining the urgency of getting a payment made. The call turned into a 3way call with Insurance Agent on the line. PennyMac was given an overnight address to send the payment to and instructed a payment needed to be sent overnight to prevent Insurance Policy cancellation.
Then on XX/XX/22 our Insurance Agent reached out saying payment still hadn't been received. We called PennyMac again asking where the payment was. They informed us it was snail mailed on XX/XX/22 and would take 10 days to get there.
Then on XX/XX/22 our Insurance Agent reached out again saying payment still wasn't received. So, we called PennyMac again asking for confirmation on check info to Insurance. We were then informed the payment was actually mailed on XX/XX/22 via Ground shipment and would take 10 days. Because of all the conflicting information, we asked to speak to a manager. Every excuse was made to not transfer us to a manager at PennyMac. During this phone call we were told every action would be taken to get a payment out overnight.
On XX/XX/22 our Insurance Agent reached out saying payment still wasn't received. We then proceeded with a 3-way call to get PennyMac on the phone. PennyMac failed to get someone on the phone who could help us and even hung up on us when we were trying to explain the situation.
|
| 03/30/2022 |
Yes |
- Mortgage
- Other type of mortgage
|
- Applying for a mortgage or refinancing an existing mortgage
|
|
Web |
|
|
I have a complaint about the customer service I received from pennymac and the processing the underwriter use to approve a loan. This started on XX/XX/22 I received a call from pennymac and this wasnt the first time called to say there going to help lower the payment. So I speak with the agent give me all this great information on lowing payment and I wasnt sure if I should trying knowing I have credit card I want to pay down so I was thinking it could be great to take cash from my home to pay on my bills and fix my home up more so I started the application with the agent and they run my credit he stated your card balance of high but I think there something we can do I pay to get appraisal of the home that was looking good and give all my income information and they first gave me options to do to help income debt then I advise hey Im co borrower on a auto and they make payment send that to then I was so hopeful I can pay my debt fix up my home for me and my family and they then state cant remove we need 12 months of payment and that 4 months away and I ask the agent to please help he advise Ill call you back and a weekend and 2 days later I had to call them so now because Im four months of and I dont have assets I can get approve this made me feel so defeated like how your trying to help me but do everything to try not to approve me I havent cried so hard in my life they need to stop building people hopes up just to destroy them
|
| 11/09/2020 |
Yes |
|
- Struggling to pay mortgage
|
|
Web |
|
|
PennyMac is not adhering to default servicing guidelines and is providing me with loan modification terms that have expired. Since COVID hit the US, I have experienced financial hardship with my loan servicer company. I was offered a forbearance and requested loan modification loss mitigation options to bring my loan current. Filled out the information online and did not hear back from the company. Went out of town to assist my XXXX year grandfather with medical issues. Upon my return, I received a soaked loan modification package that had been left in the rain. The terms are not legible and unable to make out the loan information. Please note, this information was not communicated to me by my SPOC which is concerning. When I called PennyMac I was transferred numerous times to unqualified representatives that could not assist me.
Most important my XXXX XXXX XXXX has not contacted one time throughout this process which does not adhere to CFPB and OCC guidelines. Today, I received another loan modification package with states loan documentation must be notarized and accepted by XX/XX/XXXX, and first payment due XX/XX/XXXX which was 9 days ago. REALLY!! I would like a new loan modification package to be sent to me and first payment due on XX/XX/XXXX. I really don't know if I need loan modification but PennyMac has not provided me with information to explore my loss mitigation options. THIS TREATMENT IS UNFAIR AND DISCRIMINATORY.
|
| 10/26/2016 |
Yes |
|
- Loan servicing, payments, escrow account
|
|
Web |
|
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XXXX XXXX XXXX sold my mortgage to a mortgage company called PennyMac out of XXXX XXXX, California. My account had been delinquent with XXXX when it was sold. I was catching my mortgage account up by paying XXXX payments around mid XXXX and XXXX turned over the last payment that I paid before the loan was sold, that made XXXX payments that was received this month, on the XXXX of XXXX I sent another payment, that 's XXXX payments, which only left me due for this month, XXXX. I got home this afternoon XXXX XXXX XXXX XXXX the mortgage company Pennymac had come to my house and left a sealed envelope with my name saying confidential on my front door, with the same information that was sent to me in the mail from them. Why do they need to come to my house, this is not a rental house and I did n't expect to be harassed by my mortgage company. Would this be because I 'm a woman and there is only XXXX name on my mortgage which is mine and it makes me an easy target. I just talked to my assigned representative yesterday over the phone and she noted my account for the last payment I sent. My mortgage is due for this month ( XXXX ) and Pennymac has already decided to be a thorn in my side, needless to say how upset I was about this, I called them and the only thing the rep told me was he would notate my account. If the mortgage company is making contact with me why are they coming to my house? Do n't appreciate this kind of business ... ..
|
| 08/19/2021 |
Yes |
|
- Incorrect information on your report
- Account information incorrect
|
|
Web |
Servicemember |
|
We have Penny Mac as our Mortgage lender. For about a year, we were making half of the mortgage payment twice a month. Our Mortgage payment was just over {$2800.00} a month and every two weeks, we were paying half. Once the month was compleyed, our mortgae total was paid. However, Penny mac said that we were only paying half of the mortgage and the other half was going directly to principal. We talked to Penny Mac on many occasions trying to get this sorted out and for them to correct the " delinquent '' payments status. We were told this was company policy and there was nothing that can be done. After many attempts, we reached out to another creditor for assistance. While this process was going on, they informed us not to make a payment. This went on for 5 months. We contacted the credetor multiple times to see if any progress was made and we were told that the lawyers were still working on a solution. We believed that this creditor was not going to help us and canceled the service with no resolution. We worked diligently to get caught up and to ensure we were not late on another payment. For over a year now, we have not been late on the house payment. We are currently selling the current house and and looking for another. This unjustified reporting from Penny Mac is preventing us to get approved for another payment. I hope there is somthing that your company can do to either help or at least point us in the right direcrion.
|
| 03/01/2021 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
|
|
I was in a COVID-related forbearance plan in 2020. I came out of that plan in XXXX and have been attempting to work with the company on a loan modification to bring my account current, but I do not get consistent or straightforward answers from representatives with the company. On the occasions I am able to get in touch with a representative, the answers I receive often dodge my actual questions and are frequently in direct conflict with answers I receive from other representatives. The few representatives whose direct extensions I do have, which would enable me to speak with one person familiar with my account, do not answer calls and do not return voicemail messages. The company has also refused to provide documents in a reliable way ( i.e. only sending via the post office, which has known issues at this time, and refusing to post the documents in duplicate electronically XXXX. This morning, when I attempted to make a regular monthly payment, my online account with the company stated that I was unable to do so and claims that my account is delinquent, which is untrue and in conflict with information I have received in the past.
XXXX 's attempts to misinform, frustrate, and avoid me as I attempt to bring my account current are inappropriate at best and potentially unlawful at worst. I have tried to avoid submitting a complaint, but at this time I am forced to do so, as the company appears no longer willing to work with me.
|
| 10/02/2020 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Applying for a mortgage or refinancing an existing mortgage
|
|
Web |
|
|
Last week and earlier this week I submitted the requested documents via PennyMac portal as well as I resubmitted the same documents via the PennyMac team email address. Today, at XXXX XXXX EST I received an email from XXXX XXXX stating " missing documents for your application '' and said that this was a NOTICE OF IMCOMPLETENESS and if I didn't submit the documents by XX/XX/XXXX that my application " PennyMac ( sic ) may need to decline the application for being incomplete ''. I am working on my 3rd refi with PENNYMAC this calendar year ( XXXX ) and have had a horrible experience. The first refi completed, I muscled through and completed. the second refi, I receive a {$7000.00} credit towards closing costs since it tool over 110 days to complete on a refi where PENNYMAC held the mortgage and couldn't complete the refi in a timely manner. I am working on a a refi money out and AGAIN!! PennyMac can not get out of their own way to complete a simple refi. I confirmed on the phone with a representative that they could see where I submitted the documents twice ; however, XXXX XXXX took more time to draft and send me a threaten email rather than SIMPLE looking in the folder and determine the documents were submitted twice to PENNYMAC. I am sick and tired of working with an incompetent company where employees aren't trained or overstressed with the work load.
I expect a return call explaining how this could AGAIN become an issue!
|
| 09/15/2020 |
Yes |
|
- Trouble during payment process
|
|
Web |
|
|
On XXXX XXXX, XXXX my property sustained significant fire damage.
Later that year, XXXX XXXX issued an insurance check for more than the amount that was due on the mortgage. The check was issued w/ my name & co-signer PennyMac ( the mortgage servicing provider ). I mailed the check to PennyMac and as soon as they deposited it, my life became a living XXXX.
They refused to release the funds to allow me to fix up the property & then they " neglected '' to apply the funds to my mortgage & then they " accidently '' attempted to foreclose on the property & then they again " neglected '' to fix the foreclosure-problem ( both their home-office and their lawyers XXXX.
We ended up in Court.
They offered a " settlement '' that was far below my actual financial loss and also included a " Confidentiality Agreement. '' The case ended up being " discontinued '' in court as of XX/XX/XXXX.
As of XX/XX/XXXX, I've held title to the property.
Please see within the court documents where I was informed by a PennyMac representative that it wasn't PennyMac 's " policy '' to apply insurance proceeds to the balance of what was due, unless the mortgagor paid the difference.
# 1 ) They refused to provide the " difference. " ... and if they had it would have been minimal. I ended up receiving an escrow check in XXXX XXXX from them.
# 2 ) This " policy '' is in direct contradiction to the NYS FHA contract that I had ( see attached ).
|
| 07/06/2020 |
Yes |
|
- Trouble during payment process
|
|
Web |
Servicemember |
|
On XX/XX/XXXX I received a letter that my loan was in default because my payment was short {$110.00}. I called Penny Mac to inquire why. I was initially told it was because of a county tax increase. I informed them that we had not had any tax increases in my county in a couple of years. I was immediately transferred to a supervisor. She told me the same thing until I informed her that we have not had any tax increase. I did add an attached garage to my house which increases the insurance payments. My insurance increased from {$76.00} a month to {$100.00} a {$24.00} difference. My monthly payment increased from {$1200.00} to {$1300.00}. An increase of {$70.00}. This is a difference of {$46.00}. When i asked the supervisor why there was a difference, she informed me that this was for an emergency maintenance account in case I was short due to increases in the future. I was not aware of this account and she actually said it is basically a secret account. I can not see the account anywhere on any statement and was not aware of this policy. As of now, I have around {$430.00} in this secret maintenance account.This happened last year and i blindly sent in the money they asked for.
This loan was assumed by them without my permission. I signed the paperwork not to allow the account to be assumed.
I would like to mortgage to be returned to XXXX XXXX and be compensated by Penny Mac for their deceptive and forceful threatening.
|
| 06/30/2016 |
Yes |
|
- Loan servicing, payments, escrow account
|
|
Web |
Servicemember |
|
This is not a duplicate complaint and new concerns are being expressed. PennyMac loan services has failed to respond to my complaint regarding the escrow issues regarding my loan account. My county taxes have decreased and are included in my loan payment. When my account was serviced by XXXX XXXX XXXX I never had issues with escrow shortages as my taxes are included in the mortgage payment. During a telephone call with PennyMac Loan services the representative admitted that they underpaid for taxes which created an escrow shortage. The company is engaging in practices that violate RESPA but increasing my mortgage payment due to their mistake. Additionally, I previously filed a complaint against them and they did not respond to my QWR request pursuant to RESPA. Most important, I have left numerous messages for XXXX XXXX and she has refused to contact me regarding my account. Moreover, PennyMac 's escrow department has been closed and representatives are unavailable to address my concerns. The CFPB should be investigating this company for not having representatives available to respond to my concerns.
I have provided the company with proof that my XXXX 2016 payment was not applied and they have adversely reported my loan late. All of their prior response letters do not address this concern.
I have contacted a real estate attorney and going to file a lawsuit in federal court as my damages are in excess of {$75000.00}.
|
| 03/29/2016 |
Yes |
|
- Loan servicing, payments, escrow account
|
|
Web |
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Very quickly ... XXXX XXXX mortgage payment XXXX XXXX XXXX Mortgage payment XXXX XXXX XXXX Mortgage payment XXXX XX/XX/XXXXXXXXtgage payment XXXX XXXX XXXX Mortgage payment XXXX I had contacted my mortgage company and asked how come my mortgage went up so much? They said it was due to the shortage in escrow and my taxes went up. I asked how much are my taxes and they said over XXXX for the year. I told them that my taxes were not that high, somethings wrong with the payments for XX/XX/XXXX and XX/XX/XXXX. I argued with them ALL XX/XX/XXXX and XX/XX/XXXX about my account being wrong. They finally admitted that they had made a mistake and put the " over payment '' of XXXX to my shortage in escrow but they did not remove a late payment with the credit reporting agency for XX/XX/XXXX. I told them I could not make that inflated payment because it was too high. So I had to make a double payment in XX/XX/XXXX figuring they would correct their mistake. They NEVER sent me my new escrow figures until I had questioned the payments. So now im paying what I should of been paying since XX/XX/XXXX and my payment would not have been late. Ive tried to reach a manager or supervisor about this but NOBODY has answered their phone or returned any call that I have made. ( over 10 calls ) I want my late charge to come off of my credit report so I can move on and forward. I have ALL records and can make copies if you need them. Thank you!
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| 08/22/2019 |
Yes |
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- Trouble during payment process
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Web |
Servicemember |
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I received numerous notices and calls from PennyMac to refinance our home which is currently financed through them. After I initiated a call to XXXX and spoke to XXXX XXXX who portrayed inaccurate information and extremely high loan costs to me while trying to portray how great of a deal this was. He almost had me convinced until I asked some questions and carefully reviewed the loan estimate documents and realized between the numbers he quoted me on the phone and included in e-mail were inaccurate and did not correlate to the loan estimate document. XXXX XXXX even portrayed or stated he was a vet which had me more convinced this was above board. Although Im not certain whether he was honest about his military service, based on my revealing and confirmed with my son and another mortgage entity that the loan costs were hugely inflated, the immoral behavior is simply inexcusable and as a consumer, I request action. I saved the emails and printed copies of the documentation he sent me. After I contacted my son who was in the mortgage business, I realized XXXX XXXX was overcharging us by anywhere between $ 8k and $ 10k in loan costs which I believe PennyMac and XXXX XXXX are returning those additional funds to the bank, lenders or loan officers pocket. I have notified XXXX XXXX to cancel our loan request but am concerned as to the security of my PII information and the unethical practices of PennyMac and its employees.
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| 10/05/2018 |
Yes |
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- Trouble during payment process
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Web |
Servicemember |
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I had recently heard that switching to a bi-weekly mortgage payment can help cut down interest on your mortgage by adding an additional payment each year. The earlier smaller payments would help reduce the amount of interest accruing as well if its not held until the original due date.
I contacted PennyMac to change my mortgage payment to a bi-weekly payment. I was told I would have to pay my entire months mortgage up front before they would allow me to swap to a bi-weekly payment system. I payed my mortgage 15 days early and wanted my bi-weekly payments to go into effect starting on the XX/XX/XXXX for the upcoming month. I asked the agent specifically if the payments would be effective immediately or if they would be held in an account. I was told they would be effective from the time of payment and would not be held in an account.
A few weeks later, I am reviewing my payments and see that my first bi-weekly payment has not been applied to any principal or interest. I contact PennyMac again on XX/XX/XXXX and I am told that the payments will be held until the total sum of the bi-weekly payments is equal to the total mortgage payment. I am also told that if I want to cancel bi-weekly payments I will need to pay the full months mortgage in advance again.
That has put considerable financial hardship on myself and my family. I am simply trying to be a responsible consumer and pay back my debt in a timely manner.
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| 07/25/2022 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
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- Improper use of your report
- Credit inquiries on your report that you don't recognize
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Web |
Older American |
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On XX/XX/XXXX, I called XXXX XXXX to ask about loan questions. I was asked my name, address, ss # and telephone number. I was then asked did I want a XXXX year loan. I then asked if you ( XXXX XXXX ) did commercial loans. I was told no. XXXX XXXX received a credit report from XXXX without my authorization.
I called XXXX XXXX on Thursday XX/XX/XXXX, and asked as to why you ( XXXX XXXX ) ran my credit report. I talked to a XXXX that read the file that was established with my name on it and she repeated the information that is the above mentioned. I was then told that since a file was opened with the stated information that a deletion letter could not be issued. I then asked for a copy of the recorded conversation of XX/XX/XXXX. I was told that the recording could not be found. I then asked why would a credit report be warranted if you ( XXXX XXXX ) didn't do commercial loans. I received no response.
On the same day Penny-Mac ran my credit report from XXXX. I have never spoken to Penny-Mac before today. I tried to talk to their serving department, however all I was able to do was to interface with Penny-Mac 's auto attendant and received no option to talk to a live person in their servicing department. As far as Penny-Mac goes I could not even request a deletion letter for the hard inquiry. As a result of the two hard inquiries on the same day that were unauthorized my credit score dropped more that XXXX points.
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| 05/13/2015 |
Yes |
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- Loan servicing, payments, escrow account
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Web |
Servicemember |
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I previously filed a complaint against PennyMac Mortgage ( Case number : XXXX ) that was never resolved by the cfpb. The complaint then and now, is that the lender is taking advantage of consumers who enroll in the PennyMac Autopay Biweekly payment program and unfairly NOT reducing the principle balance of mortgages when the biweekly payment is received. The attached payment history clearly shows that biweekly payments are received, but the principle balance is not reduced at all until the end of the month. Meaning that consumers are unfairly paying interest on the incorrect 'higher ' principle balance for those couple weeks each month. PennyMac continues to refuse to apply the principle portion of the biweekly payments to the principle balance when it is actually received. The whole reason for enrolling in the biweekly payment program is to pay off the mortgage early and reduce interest payments over the life of the loan. This practice of NOT applying the principle portion of the bi-weekly payment 'as soon as it 's received ' and waiting until the end of the month, is unfair predatory deceiving and not understood by most consumers. The impact of this practice over the life of a 30 year mortgage is substantial and to the benefit of the lender not the consumer. While PennyMac may have disclosed this practice in fine print somewhere, most if not all consumers do not understand the negative impacts of this practice.
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| 05/01/2023 |
Yes |
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- Struggling to pay mortgage
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Web |
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We have been doing a short sale on this file since XX/XX/XXXX and we finally got an offer that meets the lender 's minimum net based on the appraised price and after submitting it, we were told that the seller needs to file an insurance claim for the damages throughout the home or Pennymac will not accept the offer in the short sale. The seller is XXXX XXXX XXXXXXXXXXXX XXXX and his daughter is his power of attorney and although he hasn't been in the home for the past two years, he still filed a claim over two weeks ago ( when the lender notified us about it ), as per the lender 's requirements, and the claim has been denied due to borrower neglect. Just as of Friday XX/XX/XXXX, there's now a foreclosure auction date set for XXXX and Pennymac refuses to postpone it, when the only reason we filed the insurance claim is because they required it for whatever reason. This is the first time in my experience a mortgage company has asked a seller to file an insurance claim in order to accept an offer that meets the minimum required net. Otherwise, we could have closed this by now because the title to the home is clear, aside from the mortgage. Please help us get this reviewed to accept the current offer as it meets the minimum required net. It's unfair to the homeowner that he is meeting a requirement that Pennymac set, just for them to now put him back into foreclosure. They basically set him up to get foreclosed on.
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| 10/10/2017 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
Older American, Servicemember |
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We currently have an open CFPB Complaint # XXXX on a matter of dispute with our loan servicer, Pennymac. Despite the matter being in dispute, this company wrongly charged our escrow account {$600.00} for payment of a disputed appraisal. The company has patently ignored the bonafide information we provided them to validate our complaint ; neither have they provided the name of the appraisal management company involved in order that we have opportunity to contact them on the matter. There is NO reasonable justification in law or equity why we should be required to pay for a fallacious appraisal. We have notified the company that we dispute this charge. We feel that the company should be compelled to reimburse our escrow account in the amount of {$600.00} until such time as the appraisal is fully corrected and revised to include all comparable sales data we provided Pennymac and the matter is resolved through the CFPB process. The company 's wrongful action will now lead to a shortage in the escrow account resulting in an incorrect escrow analysis and payment adjustment. We note that this company had incorrectly established an escrow account when last they performed their analysis in XXXX XXXX. Despite our contacting them to revisit this, they did not, forcing us to do our best to calculate the correct amount needed for escrow each month and submitting roughly an extra {$300.00} per month to preclude a shortfall.
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| 12/10/2020 |
Yes |
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- Trouble during payment process
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Web |
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I refinanced my mortgage with another lender and closed on XX/XX/2020. The loan with PennyMac Loan Services was paid off on XX/XX/2020. Since XX/XX/XXXX, I have received various letters and correspondence in the mail from PennyMac. However, I have yet to receive my escrow refund. According to their portal, the refund was issued on XX/XX/2020. On XX/XX/2020, I called PennyMac to confirm the refund was in fact sent on XX/XX/XXXX. I spoke with a lady in the escrow department and she confirmed the XX/XX/XXXX date.
On XX/XX/2020 an escrow analysis dated XX/XX/2020 was made available to me in their portal. On XX/XX/2020, I called PennyMac to inform them that I still hadn't received my escrow refund. I was told I needed to wait fourteen ( 14 ) days. This is upsetting to me because it does not take the mail that long to travel from XXXX XXXX to XXXX. In fact, mail takes about 5 days to go from XXXX to XXXX so why would it take 14 days from XXXX to XXXX? I also take issue with why in XX/XX/XXXX the amount couldn't have simply been processed as an ACH and deposited directly into my bank account. I believe it is unreasonable to expect me to wait until XX/XX/XXXX for my escrow refund. If it doesn't turn up by that date then I have to go through a stop payment process, wait for the payment to be reissued and I guess allow an additional 14 days to receive the check? Surely a more customer focused remedy can be employed.
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| 10/09/2017 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
Older American |
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In XX/XX/XXXX, mortgage lender PennyMac later XXXX XXXX, commenced a foreclosure action against XXXX XXXX and his wife XXXX XXXX. PennyMac claimed it served their son XXXX at their home address. The XXXX do not have a son. In XX/XX/XXXX when they entered a contract of sale, they learned of the foreclosure. The XXXX ultimately prevailed. There was no delinquency of any kind. No missing or late payments. Hazard insurance, water/sewer were in effect and timely paid. ( See attached Order ) The Court gave us permission to Close. The XXXX requested a pay-off letter. The pay-off letter includes " Foreclosure Attorney Fees of {$3400.00}, '' " Contested Litigation Attorneys ' Fees through XX/XX/XXXX {$2200.00} '' " Court Appearances {$4300.00}, '' " XXXX for an Additional Notice of Pendency, '' " Gap Continuation {$40.00} '' " Index Number {$400.00} ( note : and index no. costs {$210.00} ) '', " Notice of Pendency Filing Cost {$35.00}, '' " Amended Notice of Pendency {$35.00}, '' " Amended Notice of XXXX XXXX Recording Fee {$75.00}, '' " Additional Notice of Pendency Filing Cost {$35.00}, '' " Service of Process {$1200.00}, '' " Order of Reference filing Costs {$90.00}, '' " Request for Judicial Intervention {$95.00}, '' " Referee 's Oath ( Estimated ) {$250.00}, '' " Motion to Discontinuation Fee ( Estimated ) {$640.00} '' and Motion to Discontinue Filing ( Estimated ) {$45.00} '' for a grand total of {$13000.00}.
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| 09/29/2017 |
Yes |
- Mortgage
- Other type of mortgage
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- Trouble during payment process
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Web |
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In 2015 I lost my job 3 days after my first mortgage loan payment on XX/XX/XXXX. I spent 8 months without a job and early XX/XX/XXXX I fell behind on my loan payments. As a result, my original loan was refinanced and payments under the new loan started on XX/XX/XXXX The XX/XX/XXXX and XX/XX/XXXX XX/XX/XXXX were applied to the old loan. By XX/XX/XXXX XX/XX/XXXX according to Penny Mac records I was 2 months behind. Issue solved and registered for auto-draft. Ever since then, every month I have to call because they draft the money from my account but for some reason they put it on hold and the money never gets deducted from my account unless I call and curse and swear to somebody. Today I received a call that I didn't pay XX/XX/XXXX XX/XX/XXXX. I'm pretty sure I called onXX/XX/XXXXto check on my account. Same thing... lady told me money was drafted and put on hold. But the person that called me today says the money was applied to XX/XX/XXXX and not XX/XX/XXXX. I have talked to collection agents, supervisors, they transfer me to a complaint division of some sorts... and everyone promises to fix the problem and it's been already a yr and problem hasn't been solved. I think that the money they had put on hold for XX/XX/XXXX was applied to XX/XX/XXXX instead. I'm pretty sure that I called on XX/XX/XXXX to check on the status for XX/XX/XXXX payment... and still, they messed it up. Don't know what to do anymore.
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| 06/22/2022 |
Yes |
- Mortgage
- Other type of mortgage
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- Trouble during payment process
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Web |
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I setup my home loan to be taken out & on XX/XX/2022 they took it out. I had forgot I had set it up. So I paid it again the next day before it was posted into my account. I called them because I went to get XXXX & my card was denied so I looked on my bank & they had took it out a 2nd time. So the lady saw where I had paid twice & gave me the option to refund the payment or put it towards XX/XX/2022 payment. I opted for the refund. They refunded. On XX/XX/XXXX they took it our again. I called & they said the system had a glitch. They refunded it. I paid my XXXX payment & I have called the company on their recorded line prior to paying the XX/XX/2022 payment approximately 15 times & everyone said it showed I had paid so they wasn't sure why. They escalated the issue. Was told a manager would call me once resolved. Never heard from anyone. They call today & it was not a manager but a representative stating I was two months behind.
I have uploaded my documents ( bank statements ) to their website, been told by numerous employees at their firm that it was paid & now they are still saying I owe $ XXXX dollars. It has been a total nightmare. I am terrified I will loose my house due to this. I have asked numerous times to speak with managers & was denied. I have asked them to go back & listen to all of the recorded calls & was denied. I do not have $ XXXX to pay this especially for something I've already paid.
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| 08/07/2020 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
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- Incorrect information on your report
- Account status incorrect
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Web |
Servicemember |
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I am a XXXX veteran. I was living in XXXX South Carolina for 1 year. Before moving to South Carolina I purchased a XXXX XXXX. The day I was purchasing the XXXX I explained I did not want my payments to be more than {$300.00}. I was feeling unwell that day and they took advantage of me and loaded the contract with packages I was not interested in and could not afford. I was shocked to learn my monthly payment was going to be {$740.00}. I did that for a while but could not afford it. Despite multiple phone calls did the dealership to rectify the situation I just decided to pay {$300.00} a month the loan. I never missed a payment except for when I was hospitalized due to XXXX and XXXX XXXX XXXX one month and the second month I got XXXX by a XXXX. then hurricane came and we were ordered to evacuate that area. I still never missed a payment. I went to the local XXXX and took out money orders. one of them they said they never received which I strongly suspect fraud on their end. It's been a nightmare to fix this on my credit report. I no longer have this vehicle. That same month I might have been late on my mortgage payment by a day or so but I never not paid. I'm somebody that has paid everything on time and I pay more then the required amount. I've been waiting months to work on a refinance now that my XXXX paperwork has finally come through from VA. Please help get my credit score fixed so I can do refi
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| 11/13/2017 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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We live in XXXX TX and were one of many families whose house flooded due to Hurricane XXXX. We have flood insurance and met with our adjuster XX/XX/XXXX. During the time were were waiting to see our adjuster we ripped up our floors, drywall and cabinets and started the drying process at the request of the adjuster. We have located a contractor and submitted all documents necessary to the mortgage company Penny Mac. We were issued a XXXX immediate release of contents money and XXXX of Dwelling. It was an enormous struggle to get the " Immediate Release '' of funds returned to us. Our Adjuster wrote a letter to the Penny Mac Loss Drafts department ordering them to release the money so we could continue to move on plus reimburse ourselves for the expenses already incurred. On XX/XX/XXXX the XXXX dollar check finally arrived. We contacted the adjuster and explained how long Penny Mac held our check. and asked if she would release another XXXX so we could proceed. She agreed and XXXX cut another check. On XX/XX/XXXX we 2 day Priority Mailed the check to Penny Mac. They have been holding the check ever since. I have called so many times I have lost count. I am given a different excuse as to why I can not collect the funds every time I call. Please check the websites XXXX XXXX XXXX and XXXX XXXX. We are unable to live in our home and are currently using our auto insurance proceeds to help pay contractors.
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| 03/04/2022 |
Yes |
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- Trouble during payment process
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Web |
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This company is in violation of the Homebuyers Bill of Rights by dual tracking. They sent me letters to confirm everything was okay. They applied the almost XXXX in suspense to my account. Started regular servicing after XXXX XXXX and modification agreement. They had me sign XXXX different modification documents. What they are doing now is criminal at least. They sent me a letter in XX/XX/XXXX stating that my modification was denied because I said I didn't want it. Giving me two options short sale or give them the loan and walk away owing nothing. They later apologize and said it was corrected. Note they were in possession of almost XXXX in suspense and XXXX in escrow. My monthly payment at the time of modification was XXXX payed up until XX/XX/XXXX. I had more than enough to cover 6 months of mortgage sitting in suspense as well as cover money needed for escrow. I will provide bank statements. After placing me in normal servicing they put me back in the modification process on XX/XX/XXXX. This has caused me severe mental distress. They put me in default and bought my loan in XX/XX/XXXX. I owe less than XXXX and my home is worth XXXX. I have the resources and support to pay my mortgage for the next 2 years. Why would I do a short sale or give them my home. I know its because I am a XXXX XXXX over the age of XXXX. These practices are in violation of my civil rights as well as my homeowners rights
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| 03/12/2019 |
Yes |
- Mortgage
- Conventional home mortgage
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- Struggling to pay mortgage
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Web |
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I would like a full investigation as to why PennyMac denied me for a loan modification Loan # XXXX. I fell on hard times last year XXXX and fell behind several months on my payment, I contacted PennyMac for solutions but I was told that i did not qualify because of my financial situation, I was directed to call them back if my financial situation improved so I could be evaluated for a solution. XX/XX/XXXX I got a new job and started making enough to cover all my needs, I started a modification process with PennyMac as of XX/XX/XXXX and was NEVER given a single point of contact, I've been bounced around from one representative after another with no progress. Last assigned representative is this XXXX XXXX lady who has been anything BUT helpful XXXX XXXX Ext XXXX, I've had to submit the same documents endless times and I was also told by her and other representatives that the foreclosure process would STOP until the modification process was over which did not happen. I found out that I have my foreclosure sale date on XX/XX/XXXX AND I WAS STILL SUBMITTING DOCUMENTS TO THIS XXXX LADY LAST WEEK!!!! I WAS ALSO CONTACTED BY AN APPRAISER FROM PENNYMAC WANTING TO DO A FULL APPRAISAL ON THE PROPERTY ON FRIDAY XX/XX/XXXX. It is my believe that PennyMac had no intention of letting me keep my home that's why they were processing the modification and foreclosure at the same time and even ordered the appraisal.
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| 08/06/2020 |
Yes |
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- Trouble during payment process
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Web |
Servicemember |
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As a XXXX XXXX XXXX that gets paid twice a month, I began paying my mortgage through bill pay from XXXX XXXX in the amount of {$920.00} in XXXX of 2019. Around XXXX of 2019 my mortgage company called about my payments. They said I missed a payment I explained that I had automatic payments set up so that couldnt be. At the time they informed me that my mortgage payment had increased by {$100.00}, which I never received any notice of. I was also informed that several of my half payments were misapplied. However, I was told that they would reverse it. In XXXX of 2019 I increased one of my half payments to cover the {$100.00} increase from XXXX and then changed my automatic payments to reflect {$950.00} on the XXXX and XXXX of the month. From XXXX to about XXXX I continued to receive calls from my mortgage company saying my account was delinquent. Just about each time I spoke with someone they said a payment was misapplied, finally in XXXX they escslated it. I continued to be in constant contact with the company explaining that I never missed a payment. Finally in XXXX the escalation company called and said they didnt find any errors and that I needed to supply proof. I submitted a digital message on their site with my bank statements showing the payments as well as their statements showing where the payment was misapplied. They have since refused to adjust my account even after supplying the proof.
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| 09/28/2017 |
Yes |
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- Trouble during payment process
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Web |
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My mortgage company Penny Mac raised my mortgage an extra {$1000.00} a month due to incompetence on there part, they stated I had two parcels when I only have one and were charging me twice for property taxes that were part of another parcel and completely different address that I do not own. I have been back and forth with the company for the past several of days and was told numerous reasons why my mortgage was increased one of them being that my property taxes had increased and another reason being that my homeowners policy had also increased. My taxes and homeowners policy have not increased, the third representative that I spoke to today called my XXXX XXXX to clarify payments that had been made and that is when they found the error that they were charging me for someone else 's parcel/property taxes and overpaid basically charging me double the amount of what my property taxes should be.I would like to make sure that this is rectified and corrected because unfortunately I can not trust this company. I have never missed a mortgage payment and have never made a late payment and I think this is disgusting the way the treat their customers and do not believe anything they tell me, I think that they are pocketing my money and hope they are not doing this to other innocent hard working people like myself. A full investigation should be considered and done regarding this matter and situation.
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| 05/03/2023 |
Yes |
|
- Struggling to pay mortgage
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Web |
Servicemember |
|
I went under forbearance because my spouse lost her job because of XXXX. The agreement was to postpone payments until we were better situated. During the forbearance period, random visitors showed up at our house asking " Is this house occupied ''? We were confused as to why these people were showing up and we warned them that we will call the police if they continued to invade our privacy. They were caught peeking through our windows and taking pictures of our home as if planning something.
We contacted Pennymac and they informed us that they used a 3rd party to investigate and they will send a complaint for harassment. We had the same lady show up again a week after this conversation. Another representative said they were moving forward with a foreclosure anticipating that I would not be able to make payments in the future. This home was purchased under a VA loan which states that companies can not foreclose without appearing in court.
Furthermore, the forbearance was not supposed to have an impact on my credit score. Because of the alleged delinquency, I have not been able to purchase a more reasonable vehicle and my security clearance is also at risk.
I was also assigned a " Trustee '' that is NOT a legal resident of Tennessee, which is a requirement to be listed on a DEED OF TRUST in the state of Tennessee. We have had our rights violated on multiple occasions since XX/XX/2022.
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| 12/08/2021 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
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Web |
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I received notice on XX/XX/21 that an escrow analysis had been performed on my mortgage account, and that my monthly payment would raise from {$2100.00} to {$6900.00}. This was due -- according to the notice -- my county tax bill being {$22000.00}. In fact, this was a keying error, and XXXX XXXX tax bill was actually {$2000.00}. According to the online " XXXX XXXX '' for my account, the bill was scheduled to be paid XXXX next day. Upon receipt of the notice ( sent by email ) of the escrow analysis, I immediately called the bank to inform them that they made a mistake, request that it be fixed, and that my payment be corrected. The employee I spoke to understood the issue, and realized that it was important to be fixed. After a long hold, I was told that it was corrected and that the new payment would be reflected on their website the next day ( XX/XX/21 ), but he wouldn't be able to tell me what it would be.
As of today, XX/XX/21, the payment listed on their website for my next payment is still {$6900.00}. I've been unable to reach a representative on the phone, and the bank 's response to my message on their website asking them to please correct the payment indicates that they did not understand my request at all. Having a monthly payment jump {$4700.00} is simply untenable, and reflects gross incompetence by the bank at best, or an attempt to bankrupt me and take the house at worse.
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| 03/28/2019 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Struggling to pay mortgage
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|
Web |
Older American |
|
PennyMac is extremely fraudulent and horrible and deliberately employs illegal and fraudulent practices : dualtracking, losing documents, changing contact persons and prolonging modification applications to get foreclosures and auctions. They also have a stupid " within 37 day policy '' to not accept short sale requests or any restorative actions from property owners.
PennyMac denied 3 offers to buy the property so that they could auction the property. We had a buyer who offered {$54000.00} over the payoff amount 1 week before the sale. They were also willing to cure the loan first then have enough time to get a loan for the property. We contacted PennyMac to obtain the loan payoff and amount to cure the arrears, PennyMac 's customer service manager XXXX XXXX said it would take 3-5 days to get this information although we pleaded that the auction date was 4 days away, he deliberately gave us incorrect auction administrator information and stalled the payment to cure the loan.
The property was auctioned on XX/XX/19 but was not purchased so the property went back to the beneficiary ( bank ). PennyMac has caused us physical, emotional distress, and pain and suffering to my family. I am XXXX years old and XXXX. PennyMac received calls from our Congressman 's office as well as CFPB to stop the auction and allow the sale to proceed to which they stated that they could not and they DID NOT.
|
| 10/07/2020 |
Yes |
- Debt collection
- Mortgage debt
|
- Attempts to collect debt not owed
- Debt was paid
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|
Web |
Servicemember |
|
Dear CFPB, Please find my complaint against XXXX XXXX XXXX XXXX XXXX and PennyMac Loan Servicing LLC I respectfully demand XXXX XXXX XXXX, XXXX to identify the SELLER of my loan to PennyMac and copies of all releases of liens ( 1 ) by XXXX or someone else ( XXXX XXXX? ) to XXXX XXXX XXXX XXXX ( who purportedly SOLD my loan to someone ) ; and from PennyMac who purportedly PURCHASED my loan from someone.
Releases of prior liens MUST be filed with VA after EACH sale.
XXXX responded to my prior requests and ALWAYS said that they only transferred servicing to PennyMac.
PennyMac ALWAYS claim that they PURCHASED my loan from someone. When I ask who sold my loan to PennyMac neither XXXX or PennyMac are able to respond.
Servicing transfer and SALE of the loan are totally different procedures.
IF PennyMac actually purchased my loan, here must be a Seller who had rights to sell my loan.
This Seller MUST receive a release of lien from PennyMac.
Please identify the SELLER of my loan to PennyMac and provide me copies of releases of liens by prior owners of my debt ( if any ) I am entitled to have this information ; and it must be filed with XXXX XXXX after EACH sale. PennyMac never provided me any disclosures who was the Seller or any prove of their " ownership '' of my loan.
Again, please provide me a copy of release of my lien from PennyMac to the Seller who SOLD my loan to PennyMac.
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| 03/09/2023 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Applying for a mortgage or refinancing an existing mortgage
|
|
Web |
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I closed on my PennyMac refinance loan XXXX XXXX, XXXX. Loan # XXXX However on or about XX/XX/XXXX, I began to get numerous phone calls from different mortgage companies asking me about my interest in refinancing my home. Of course, I was very surprise that they got my personal information and knew my intentions with PennyMac. Also the loan with PennyMac was about to close since all the paper work was completed.
In my conversation with a few of these Mortgage Companies ' representatives, I was told that the credit companies sent out my information. I did call my PennyMac Loan officer who said the same.
If the purpose of sending out my information to other Mortgage Companies was to generate competition and a fair playing field. This did not happen. My loan was near completion and to work with another company would be like starting all over, which would take additional weeks.
In my conversation with a representative from XXXX XXXX Mortgage and verified by the papers I got from XXXX XXXX stated that a high credit score should generate lower interest rate. Also I was informed that PennyMac Retail renders higher cost and interest vs. Broker Division. My XXXX XXXX is in the XXXX 's and the interest on my loan is 6.5 %.
It seems to me that I paid higher interest given my excellent credit rating.
My reason for bringing this to your attention is to seek a redress of my interest rate.
|
| 12/09/2021 |
Yes |
|
|
|
Web |
Servicemember |
|
XXXX XXXX, XXXX Department for PennyMAc received our request to change the occupancy ( a form in the paperwork ) from residential in order for us to purchase another home ( better security area, more convenient to work location, etc. ).
XXXX XXXX spoke with me for 15 minutes. I am an XXXX XXXX with a XXXX XXXX XXXX. She asked me to verify XXXX, XXXX and address. She asked me if renting, what would I rent our current home for since our current mortgage is {$1400.00} ( we pay more than minimum each month ). The current home has pool table, large rooms, in close proximity to large naval base/airport, etc. ). XXXX XXXX never XXXX for documentation to show we have over {$31000.00} in a savings account for emergencies. She did not ask for documentation showing $ $ $ in our XXXX, nor documentation showing $ $ $ in a XXXX, nor asked if we had mortgage insurance with PennyMac as beneficiary in case we died ( to protect their interest ). XXXX XXXX of the Research Department determined that we, XXXX Americans, do not need to purchase an investment property and said " we must sell our current home '' as the only option available to us. Her letter did not state any other options, did not provide a PennyMac phone number to escalate or request an appeal. XXXX XXXX of the XXXX Department failed to accurately review ALL pages of the VA Mortgage documents and violated veteran 's rights to appeal.
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| 01/16/2019 |
Yes |
- Mortgage
- Other type of mortgage
|
- Trouble during payment process
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|
Web |
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I sent an insurance claim check to PennyMac in the amount of {$33000.00} ; they received and cashed on XX/XX/XXXX. I submitted all information they required with exception of contractor 's license and signed XXXX. The contractor has now backed out because of the length of time this is taking to get funds disbursed.
I sent a written request to Pennymac on XX/XX/XXXX along with estimates for materials needed for the repairs. I need to go ahead get the materials ordered before they are no longer available. They advise it takes 2 days to process your request, so I called on XX/XX/XXXX to make sure they received the request and confirmed they did. I called back on XX/XX/XXXX to get an update on the request and was told they needed signed XXXX and license from contractor. I explained the request was to release funds to buy materials only, not pay contractor which was very well explained in my request. I was told they would put in the request that day, XX/XX/XXXX and would have an update for me no late than XX/XX/XXXX and would be good idea for me to call back because they probably would not contact me.
I called back on XX/XX/XXXX and was told the request had to go to their " corporate '' office for review and it could take an additional 11 days for a decision and the request was submitted to corporate on that day, XX/XX/XXXX. I was told again to call back to check status next week.
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| 09/10/2021 |
Yes |
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- Trouble during payment process
|
|
Web |
Older American |
|
Hello, CFPB : In XXXX of 2021 I made an extra principal payment that my mortgage company, PennyMac Mortgage Services, LLC mishandled. I was charged an extra interest payment and an extra escrow payment and my principal balance was incorrectly calculated.
I have contacted the mortgage company, PennyMac, who have told me that they will " correct '' the problem. However, I felt that their response was weak and non-specific, and when I asked for the address of the Consumer Financial Protection Bureau, the agent said he did not have the address and had never heard of the agency.
In addition to the misapplication of my principal reduction payment, which was erroneously applied to my account and did not reduce the principal that I owed to the correct amount, I have had trouble for the past several weeks accessing my account online, because the PennyMac website fails. After I enter my user ID and password, I get a screen that says, " Sorry! we're currently under maintenance. Our team is working quickly to bring the site back online. We apologize for any inconvenience. Please try again later. Thank you for your patience. '' This problem has existed for at least three weeks, and it makes it much harder for me to determine what is going on with my account. When I asked the PennyMac customer service agent if he could give me an estimate for when the website would be fixed he could not.
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| 03/15/2023 |
Yes |
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- Trouble during payment process
|
|
Web |
Older American, Servicemember |
|
I closed on a mortgage with PENNYMAC mortgage company in XXXX XXXX XXXX. My First Mortgage payment was due on XX/XX/XXXX an received by PENNYMAC on time with no problems in the amount of XXXX and was posted on XX/XX/XXXX The next payment was sent on. The second payment for the mortgage was paid on XX/XX/XXXX in the amount of XXXX and was received by PENNYMAC and was posted on XX/XX/XXXX. Third payment in the amount of XXXX was received and posted on XXXX/XXXX/XXXX. This is when the problem started. I called PENNYMAC because the check had not been cashed. They told me they did not received the payment. I spoke with a supervisor and he read me the rules about late payments. because monday was a holiday the transaction took place on that Tuesday. Just so happen they found and cashed the check on time. PENNYMAC is trying to get me to do automatic deduction or pay by phone. Fourth payment for XX/XX/XXXX was received and posted on time XX/XX/XXXX. The fifth payment was never received. I call them to day and they say they did not receive the fifth payment of XXXX. WE payed a post mark fee for proof of mailing. The supervisor said he would waive the late fee until the XXXX of XXXX XXXX i was with XXXX XXXX for my last mortgage and never had problem with lost check. I think they are not telling me the truth. I think they are holding my check to force me to make automatic deductions
|
| 05/23/2023 |
Yes |
|
- Struggling to pay mortgage
|
|
Web |
Servicemember |
|
In XXXX and XXXX I used the COVID assistance provided by the company to help us stay caught up on payments. My wife is an XXXX XXXX The summer after COVID started, she lost her summer courses and then winter courses as well. We used the COVID assistance to help us get back on track each year ( and hopefully permanently ) with modifications to the mortgage. When I needed the same help at the beginning of this year, I was denied due to the allotment of time was used up. However, when I checked my records, it looks like we only used the program for XXXX months ( only showing XXXX months on credit report ) but XXXX months were supposed to be available. The company refused to allow any assistance without modification at that point. If we had been allowed to use the remaining months of the program, I wouldnt currently have any late payments. I tried to reach out to the company to find out why we were denied but was just told theres nothing they can do. Ive yet to receive information on the number of months we used the program.
Now, were trying to purchase a home but getting denied due to recent late payments. I would just like proof all XXXX months were used and if not, be granted the forbearance period for XXXX and XXXX ( the months late were actually XXXX and XXXX but they refused to fix that as well ). Since the company is flat out willing to work with me, I have no choice.
|
| 09/26/2023 |
Yes |
|
- Trouble during payment process
- Private mortgage insurance (PMI)
|
|
Web |
Servicemember |
|
In XX/XX/2023 I faxed information to Pennymac to change my homeowners insurance policy company, from XXXX to XXXX. Shortly after I received a letter from XXXX, which is my new homeowners insurance, stating that they would cancel my policy because Pennymac had not responded. I called Pennymac again and was told to upload it to the message center on their website, so I did. I called a few weeks later and they still had not updated my homeowners insurance policy. So again I uploaded my information. Somehow I am XXXX on my escrow account so today, XX/XX/2023 I jumped on the website to see what was going on and they still had not updated my homeowners insurance. I called and they told me I had not uploaded anything. After finally being able to update my insurance information they told me I would have to call XXXX to get the money back that they have been paying them for 2 months, even though I had cancelled the policy. I fail to see how this is my responsibility when I have done my due diligence to correct this information. The lady told me that the stuff that is uploaded to the message center is sent to customer service. If thats true why was I even told to upload it there if it doesnt get to the correct place! I was so frustrated I still dont know why I am XXXX in my escrow! How can you trust a company that cant even get your insurance information updated in a timely manner?
|
| 09/15/2017 |
Yes |
|
- Trouble during payment process
|
|
Web |
|
|
Due to an illness ( XXXX XXXX XXXX ) and major sewer plumbing problems in the home in XX/XX/XXXX I got behind on payments. I notified the company and let them know I was having financial problems and I asked for a modification. The company denied my request. I put in for a second request for a modification through XXXX XXXX XXXX XXXX XXXX, XXXX who help me with financial payments. Now PennyMac Loan Service sold my loan to XXXX XXXX XXXX XXXX XXXX XXXX ( Creditor ) on XX/XX/XXXX. After PennyMac sold my loan it places my loan on hold with a dummy number through the new loan company XXXX. XXXX XXXX XXXX. ( XXXX ) while still paying PennyMac. Do n't want to lose my home from one company to the other due to not paying the new loan holder ( XXXX. XXXX XXXX XXXX. ). They sold my loan while I was in a 3-month trial with PennyMac modification and I was n't getting the total credit for payments. They said I had modifications trial base but did not take off anything, that is why I could n't clear the charges. I paid a total of {$9000.00} in late charges and payments while still paying mortgage. Bill was caught up to {$1300.00} remaining but due to interest charge, lawyers fees, and late charges. PennyMac would not and did not adjust my taxes on my home as I requested for base credit. ( My City and county taxes adds up to : {$1100.00} ) PennyMac is over charging me for my home taxes.
|
| 07/27/2016 |
Yes |
- Mortgage
- Conventional fixed mortgage
|
- Loan servicing, payments, escrow account
|
|
Web |
|
|
I have sent payments to PennyMac mortgage using XXXX XXXX XXXX Billpay since the day they bought the paper. Now, for the last 3 months, PennyMac has decided they will apply my payments only to principal reduction. If I did n't catch this 3 months ago, I would unknowingly be behind on my mortgage payments. It seems like XXXX, XXXX, & XXXX all over again! Each of the last 3 months, I have had to write letters requesting PennyMac to properly apply my payments. They have corrected the issue each time but it takes a couple of weeks for them to get it right. I am concerned that they are possibly over charging me for interest for the days they are taking to fix their errors. I have just asked to be contacted by a loan servicing supervisor but I do n't expect them to comply. I always paid a little more than the payment due to try to shorten my loan period. This month, I sent the EXACT payment due and they still applied it to principal only. Their website is a pain to navigate because they load my computer with cookies that my antivirus program deletes. Every time I try to log in, I have to wait for PennyMac to send me a special code via email so I can access my account. It is really like dealing with a guy down the block running a mortgage company from his garage. I ca n't be saddled with a mortgage company I do not trust so I am going to pursue a refinance to get away from them.
|
| 05/06/2020 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
|
|
In early XXXX I received the copy of my yearly escrow account balance with a refund check of approximately {$2700.00} and notice that my monthly payment would decrease by {$350.00}. After review of the document it was clear that they made a mistake by the company saying my property taxes were scheduled to fall from $ XXXX/year to $ XXXX/year. I called the company and spoke with a representative. She indicated she would refer the case back to the escrow account department and thatd I hear back. I never heard back so a month later in early XXXX I called back. I spoke to another representative and she agreed they messed up the calculation. She said she could tell that they used the wrong county to calculate my property tax rate and thats why it was showing a much lower amount. She said they would be updating the new monthly payment amount before my XXXX payment was due. She also advised I should deposit the original check into my checking account and then repay Penny Mac that amount back into the escrow account. By XXXX the monthly payment did not update and I have heard nothing further from the company if they will actually be updating my monthly payment info. In the meantime I am having to withhold an extra $ XXXX/month because I know they are grossly under collecting for my taxes and I do not want to be billed for {$4000.00} next year when they realize they messed up.
|
| 08/13/2020 |
Yes |
|
- Trouble during payment process
|
|
Web |
Older American, Servicemember |
|
Loan NUmber XXXX.
This is in reference to a previous complaint XXXX which was started on XX/XX/2020. After going through with PennyMac and XXXX associate XXXX XXXX and XXXX XXXX to have our son included to the loan, we were told that he is now included to the loan. Although we do not have any access to view of the inclusion to the loan since this is more a Server situation. The initial complaint was closed on XX/XX/2020. As per Ms. XXXX and her response to CFPB, it would take approximately two ( 2 ) billing cycles to reflect the process. On first time I called Ms. XXXX was due to a misunderstanding from me that require two billing cycles in early XX/XX/2020 when the ownership addition did not reflect in the monthly Statements. Then when XX/XX/2020 rolled by, again I called Ms. XXXX and left a message to let her know that the monthly statement still does not reflect the inclusion. It is now three billing cycles. I sent a message through their Message Center in early XX/XX/2020 concerning the inclusion. I still have not received any response from anyone in Penny Mac. But again, I gave Ms. XXXX a call twice and left messages on my concerns towards the end of XXXX week of XXXX 2020 since XXXX 2020 monthly statement still does not reflect the inclusion. I understand the ongoing situation nationwide. I am sure I have given enough time to remedy the situation. Thank you.
|
| 11/30/2016 |
Yes |
|
- Loan servicing, payments, escrow account
|
|
Web |
Servicemember |
|
Penny Mac loan services is messing up my credit by not applying my payments accurately and their system is not taking my payment timely. Since they acquired my loan I have had delinquent credit reporting for this type of issue. They inaccurately reported my loan 30 days late for XX/XX/2016. I successfully remitted my payment on XX/XX/2016 through the website and it was taken out of my account on XX/XX/2016. Please refer to my bank statement attached. On XX/XX/2016, I logged on an made a payment for XXXX 2016. To date my payment was not taken from my account so I make another payment. This is ridiculous and my consumer protection rights are being violated. My account has been assessed XXXX late fees and property inspection fees for XX/XX/XXXX and XX/XX/2016. My credit has been adversely impacted and my credit score has dropped XXXX points.
This is a demand letter and I am going to file a lawsuit in federal district court as I am unable to get a loan for XXXX and have damages now over {$75000.00} to to loss of credit opportunities. Since acquiring my loan, my credit has been impacted with XXXX 30 day late credit reporting. If my credit is not suppressed for XX/XX/2016, XX/XX/2016, and XX/XX/2016, I will proceed with filing a lawsuit Pro Se XXXX. Please be aware that I have already filed a complaint with HUD do to loss of refinance opportunities and discrimination.
|
| 04/03/2022 |
Yes |
|
- Struggling to pay mortgage
|
|
Web |
|
|
My wife and I lost our house in XX/XX/2021, and dealing with our mortgage company, Pennymac, has been a nightmare since day 1. It took them several months to release funds they received from our insurance company to our contractor so he could start rebuilding. We didn't start rebuilding until the end of XX/XX/2021. That's 7 months worth of building time we lost because of the mortgage company. And during that time, the cost of materials has increased an average of XXXX %, which then makes our insurance company hesitant to release additional funds to the mortgage company because it's over and above their estimate, which was done in XX/XX/2021. While we are doing some upgrades to the house, so our XXXX generation family can be more comfortable than we were before we lost our home, we are prepared to pay for those out of pocket. However due to Pennymac delaying the release of the funds, we have had to pay our contractor over {$60000.00} of our own money to allow them to continue building up to where they are now. Pennymac has finally released an additional $ XXXX, but this will only get the rough electric and rough HVAC installed. Once that is done, we are at a standstill until more funds are released. And our insurance company only covers living expenses for 12 months from the date of the incident, so we need to pay rent from then until our house is livable again.
|
| 07/14/2021 |
Yes |
|
- Trouble during payment process
|
|
Web |
|
|
We purchased a home XX/XX/XXXX. Opening balance with PennyMac was {$320000.00}.
We made payments on time up until we went into forbearance. We resumed regular payments for a period of time again, then again went into forbearance. As of XX/XX/XXXX our principal balance was {$320000.00}. XX/XX/XXXX we sold the home. The Payoff to PennyMac came back as {$330000.00}. Not only did we have that payoff, we had a payoff to HUD for {$7800.00} that we were told was paid to PennyMac for the forbearance. In total we paid off {$340000.00} at closing.
I put in a phone call to PennyMac asking how we owed over {$11000.00} more than what we opened the loan. PennyMacs online payment details were extremely hard to follow, and the customer service agent couldn't even make heads or tails of it. He told me he felt like we should not owe the additional {$7800.00} to HUD and that we were being overcharged at payoff. That being said, he couldn't give me any more guidance other than to contact HUD and talk with the Title company. Needless to say it has brought me to this point. I have had no adequate explanation or documentation from PennyMac as to how we owed so much money at closing.
This home is now closed, and PennyMac and HUD paid off as we could not close on the home without doing so. I am asking for a review and an explanation and/or reimbursement of overpaid funds to PennyMac.
|
| 01/31/2020 |
Yes |
|
- Struggling to pay mortgage
|
|
Web |
|
|
I finalized my divorce in XX/XX/2019 and moved back into my home this was when I found that my ex-wife was behind on payments. I didn't know what to do. When I talked with the lender they told me I couldn't make a payment until the penalties were paid first. I struggled with the lender for months until I was contacted by XXXX XXXX that helps people like me deal with the lender. She got the lender to postpone auction in XX/XX/2019 she stopped we began to work with my lender to get a loan modification. I had also at the same time started a new job that pays well. I knew I could finally start making my house payments after I had began working. The lender was not being very compliant with us as XXXX fought hard to get them all my information they needed. At that point XXXX did all she could and I took over. Finally I thought all was going forward with the modification and the lender kept pushing the auction date out until now. They are claiming they still need documents which I was never contacted about. I am asking for them to postpone the auction date and they are not responding in a timely manner. XXXX is again helping me. This is complete misconduct of the mortgage practice. They have not been back in contact to me after I thought I would be getting my new payment plan and never did. I did everything they asked and acted in good faith and they set me up to fail.
|
| 02/05/2020 |
Yes |
|
- Trouble during payment process
|
|
Web |
Servicemember |
|
In XX/XX/XXXX, Pennymac mortgage cancelled the homeowners insurance with XXXX XXXX a XXXX company. Pennymac never contacted me regarding the insurance cancellation, I did receive a letter from Pennymac stating that my escrow accout needed additional funds and that my mortgage would increase from {$1800.00} to {$2000.00}, I sent three payments of XXXX, each to satisfy the deficiency and those payments were misapplied. I found that out as I received a letter from Pennymac stating that my next mortgage payment would be {$6400.00}.
When I called to inquire, I was told by the CSR that I didn't have homeowners insurance, that was XXXX of XXXX, at that time, I hadn't had coverage for more than 6 months.
I began investigating and discovered that Pennymac sent a check for insurance for my property to XXXX in the amount of XXXX. The annual premium that I had with XXXX was {$1100.00}. The check for the premium that was sent to XXXX by Pennymac was returned in XXXX by XXXX. Pennymac never contacted me to inform me that they accidentally or in error caused the insurance on my property to be cancelled.
When I finally got someone from Pennymac to respond, I was being charged almost 4000.00 for an annual premium and forced by Pennymac to pay for it. I have since then covered by property, but Pennymac refuses to respond to my letters or reimburse me for not being covered.
|
| 06/04/2018 |
Yes |
|
- Trouble during payment process
|
|
Web |
|
|
My mortgage was 4 months behind due to job loss and I attempted a loan modification which Pennymac denied. I was told I would need to pay {$4100.00} to bring my account current. OnXX/XX/XXXX, I paid {$1000.00} over the phone and I was told to pay {$3100.00} to fully bring it current which I did on XX/XX/XXXX which equals the past total amount 0f {$4100.00}. In addition to that, I paid the escrow balance {$960.00} on XX/XX/XXXXin order to reduce my monthly mortgage amount and make it more manageable since I'm experiencing an income reduction. I made my first payment of {$860.00} but I received a bill stating that I have an outstanding late charge ate charge in the amount {$81.00} and another fee of {$30.00} which I was never made aware of during my calls on XX/XX/XXXX; XX/XX/XXXX and XX/XX/XXXXwhen the last 2 agents confirmed that my account was up to date and I also accessed online and that was confirmed as well. I've already contacted XXXX regarding this matter but Pennymac responded that it will take 30days to resolve which I'm worried that this will affect my credit and it didn't take them 30days to charge or deny my modification request. why should it take that long to resolve this matter. Attached you will find the bill that shows the amount to bring my account current which I resolved by XX/XX/XXXXto avoid any late fees if I was to pay after XX/XX/XXXX
|
| 03/14/2018 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
|
|
We have a mortgage with Penny Mac mortgage and it had PMI. We started the process ( XX/XX/2017 ) to remove the PMI and they had to order an appraisal. When that process starts they tell you they can charge 400-1000 for an appraisal. Appraisal price very from conve., fha or VA, square footage, rural or anything extra they have to do. That's why they have to give you a price range. They charge me {$820.00} for a simple conventional loan in the city. Nothing extra which they should of only charge XXXX max. If you call anywhere or ask anyone that's the price range for a conventional loan, normal sqft in the city. I don't leave in the country or rural area. They are charging twice as much for reg conventional appraisal. If they don't let you get your own appraisal they should contract someone that is in your area so they don't charge {$400.00} extra that what I'm assuming happened but not sure why they are reaping me off. I try to ask question of how much is the appraisal charging me but since the mortgage co. Contract them they can't answer any questions. Penny Mac should have the consumers best interest to have appraisal companies that do not reap borrowers off and that are in the area. As a consumer they should have the best interest for us the consumer and not to fill there pockets. I have tried to work it out several times but they will not cooperate. Thanks
|
| 12/13/2018 |
Yes |
- Debt collection
- Mortgage debt
|
- Took or threatened to take negative or legal action
- Threatened or suggested your credit would be damaged
|
|
Web |
|
|
I went into the automated system to make my mortgage payment history on XX/XX/XXXX. I completed it and heard a confirmation number. I was driving and could not right the number down. I received a collection call the first week of XXXX. The person from Penny Mac said they needed to talk about my account and asked from my SSN. I asked why they needed to discuss my account and they said they needed to verify my SSN first. I refused, as I assumed this was a scam.
I was called today XX/XX/XXXX. The person asked for my address. I provided it and apparently the automated system made and error ant the payment wasn't recorded. I immediately pooled up my account and verified the payment wasn't withdrawn. I paid the past due amount immediately on the phone. I asked them if they could make sure this late would not report to my credit. They refused to acknowledge the systems error. They could see I called in to the system on the XXXX. I have a perfect pay history. They also could see I call in the same time every month to make the payment, but said the could do nothing about it. They offered the address to file a written complaint, but by then the damage will be done and she reitterated they can't change the credit. They could report this to the credit as their system error. They just won't. I now will suffer a 30 day mortgage late on my credit. This is uncacceptable
|
| 05/03/2017 |
Yes |
- Debt collection
- Mortgage debt
|
- Communication tactics
- You told them to stop contacting you, but they keep trying
|
|
Web |
|
|
I have had my mortgage loan with PennyMac since XXXX or XXXX XXXX ( after transferred from the originating loan company ) and know about calls when accounts are past due. On several occasions I requested no calls to my w ork and not to call my cell phone unless my account is over 30 days past due. I had been receiving calls on my cell phone and on approximately XXXX XXXX , XXXX , I received a call from a representative and advised that I had requested no calls on my cell phone and there are no other numbers to call me on ( including my work number ). I received an email forwarded between two departments at my job on XXXX XXXX , XXXX , stating, " For your handling. '' The forwarded email was from a voicemail left stating this was in reference to my home loan. The attachment is only the screen shot of how the voicemail was transcribed. The voicemail is from an actual person, not a recording. The voicemail was attached in the original email. I have repeatedly told several reps on different occasions not to call me at work and I received this forwarded message and voicemail. My application with the company has my direct extension for messages such as this. I believe this violates FDCPA with third-party disclosure since the message was in reference to my home loan and not left on my direct voicemail, that identifies me by first and last name.
|
| 09/21/2022 |
Yes |
- Mortgage
- Conventional home mortgage
|
|
|
Web |
Older American, Servicemember |
|
When attempting to payoff this mortgage ( loan number XXXX ) which was days away from a foreclosure auction, PennyMac returned our personnel check that was for an amount in excess of the payoff amount. PennyMac received this check on XX/XX/2022. The accompanying documentation stated that a cashier 's check was required even though their monthly statement and payment coupon said nothing about a limit on the amount of a personnel check or that a personnel check was unacceptable.
A cashier 's check for an amount in excess off the payoff amount was then sent to PennyMac This check was delivered on XX/XX/2022. PennyMac did not acknowledge receipt of this check until XX/XX/2022, and then only after multiple phone calls and messages. We spent hours on the phone going through endless loops of people telling us that they had not received our check. Finally on XX/XX/2022, just four business before the auction date, they finally received our check and cancelled the auction.
PennyMac charged interest and fees through XX/XX/2022. We feel they should credit back to me any charges after XX/XX/2022. We are also of the opinion that had we not made these extraordinary effort to force receipt of our check, PennyMac would have happily allow the home to go to auction, putting an elderly, XXXX widow who had just spent 4 months in the hospital and her XXXX son on XXXX XXXX.
|
| 08/28/2023 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
- Payment process
|
|
Web |
|
|
On XX/XX/XXXX I logged into my Pennymac account and processed my monthly payment.
After a few days, I noticed that the payment had not cleared my account. On XX/XX/XXXX I called Pennymac and left a voicemail and my call was never returned.
On XX/XX/XXXX I called and spoke to XXXX ( ext XXXX ) and explained that my payment from XX/XX/XXXX was not processed and that everytime that I logged in, their website showed " payment processing '' and that no additional action or payment could be made.
After a long hold time of over an hour, the rep came back on the line and said that the payment was a scheduled payment of two payments ( the current due payment and a future payment ) and they were scheduled for XX/XX/XXXX.
Pennymac manually processed my payment on XX/XX/XXXX and called it a partial payment, which it was not.
I explained to XXXX that this was an error on the Pennymac website and that I had properly processed my monthly payment and that their website had made the error/mistake.
Pennymac called a few days later and said that they were not responsible for the error.
This simply is untrue. The XX/XX/XXXX payment was made on time.
Pennymac reported me as over 30 days late to all three credit bureaus- XXXX XXXX , XXXX and XXXX .
I want the negative reporting removed from my credit report and I want any associated fees refunded for the error.
|
| 06/08/2016 |
Yes |
|
- Loan servicing, payments, escrow account
|
|
Web |
|
|
I am a Mortgage broker and have been work with a family that owns a home on Hawaiian Home Lands. The own the lease, and have a great need to refinance. Their current rate is 6.74 %.
XXXX and XXXX XXXX have never been 30 days late in paying their mortgage to XXXX XXXX XXXX since XXXX. However, the mortgage was sold to Penny Mac on XXXX XXXX XXXX. You can see the print out from Penny Mac showing a late fee of {$1100.00}. How can this be late when no notice was served?. Attached are copies of checks of payment for the months of XXXX, XXXX XXXX showing all payment to XXXX XXXX XXXX were paid on time. Once the mortgage was sold to Penny Mac everything went sideways. The first payment to Penny Mac show a last fee of {$1100.00} but was never reported late? Attached is a print out from their account with Penny Mac which shows all their payments.
A late payment ( greater than 30 days ) was reported on XXXX XXXX. That month the payment increased from {$2900.00} to {$2900.00} without prior notice. In XXXX XXXX, they accidentally paid the old payment of {$2900.00}. However, they paid the difference by the end of the month. How can this be thirty days late? We need your help! My clients have called Penny Mac many times and have had no results. WE want to have the late payment removed from the XXXX credit report ASAP. Sincerely, XXXX XXXX, XXXX, XXXX XXXX XXXX XXXX
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| 10/21/2021 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
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- Problem with a credit reporting company's investigation into an existing problem
- Was not notified of investigation status or results
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Web |
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This is a formal complaint against Pennymac Loan Services located in XXXX XXXX, CA. This company has repeatedly violated my consumer rights under the Fair Credit Reporting Act as well as the Fair Credit Billing Act and has caused me much unnecessary financial AND mental distress. For starters, they're reporting an erroneous & unverifiable account on my credit report and not to mention an account in which I've asked for proof of claim and in which they have not been able to provide, per the FCRA & FCBA. Despite my efforts to resolve this unfortunate nightmare for several months now, Pennymac Loan Services has completely ignored my communications and legal submissions to remove this inaccurate information from my credit report. I am well aware of several other complaints filed against this company for their illegal and unethical business practices. Yet, somehow, this company is still in business. This company 's unprofessional & negligent behavior has caused lots of serious harm, not only to my ability to establish credit & good interest rates, but also to my character as a Professional and as an individual. Please help me, and the many other consumers just like me, to put a stop to the operation of these unethical & immoral business practices immediately. I sincerely appreciate your time and assistance in this matter and hope to hear from you very soon.
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| 05/23/2018 |
Yes |
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- Trouble during payment process
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Web |
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PENNYMAC TRIES TO KEEP AND PROFIT OF MY INSURANCE CLAIM CHECK WHILES I HAVE NO HOME TO LIVE IN I HAD WATER DAMAGE IN MY HOME AND FILED A CLAIM WITH MY INSURANCE COMPANY. TYPICALLY, INSURANCE COMPANY WILL WRITE A CHECK TO YOU AND THE MORTGAGE COMPANY.
ORIGINALLY, MY MORTGAGE COMPANY WAS XXXXXXXX XXXX XXXX AND I HAD NO ISSUES. THEN MY LOAN GOT TRANSFERRED TO PENNYMAC. THIS IS WHERE MY HEADACHE STATRTED.
PENNYMAC IS JUST REFUSING TO RELEASE MY INSURANCE CLAIM CHECK. ITS STORY AFTER STORY. THE CHECK WAS RECEIVED BY PENNYMAC ON XX/XX/XXXX & I WAS TOLD IT TAKES 6 DAYS TO PROCESS AND SEND US OUR CHECK. I EVEN SENT A POST PAID ENVELOPE FOR EXPEDITED DELIVERY. EVERYDAY I CALL, ITS ANOTHER 6 DAYS. THE CHECK WAS SENT TO THEM XX/XX/XXXX, ALL REQUIREMENTS HAVE BEEN SENT TO THEM BUT THEY ARE REFUSING TO PAY THE MONEY.CONTRACTORS ARE WORKING IN MY HOME AND NEED TO BE PAID. I HAVE BEEN OUT OF MY HOME FOR 6 MONTHS NOW AND NEED TO GET BACK HOME I JUST WANT MY MONEY ASAP. THE MONEY IS NOT THEIR MONEY, ITS TO BE USED TO PAY CONTRACTORS WHO HAVE WORKED TIRELESSLY IN THE HOME. THE WORK HAS BEEN DONE, THEY HAVE SENT SOMEONE TO INSPECT BUT THEY STILL WANT TO KEEP THE INSURANCE MONEY.
ALL I NEED TO THE CHECK ASAP AND I WILL FIND ANOTHER COMPANY TO FINANCE MY HOME. I WANT THE CEO TO CALL ME AND EXPLAIN THIS BECAUSE THIS IS NOT FAIR TO HOMEOWNERS IF THIS IS HOW THEY BEHAVE
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| 02/13/2023 |
Yes |
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- Trouble during payment process
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Web |
Servicemember |
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To whom this may concern, I received a tax bill from my county in XXXX where it showed that I had some delinquent taxes not paid. I immediately reached out to our servicer PennyMac to advise them about the bill. They initially told me to disregard it because they had already paid my taxes. So, I did, initially. However, after reaching out to the county they told me I indeed owed taxes. So, I reached back out to PennyMac and started a request to get the taxes paid. They apologized for the situation and told me to send in the tax bill via their messaging center. So, I did on XX/XX/2023. Since then, they have told me it would take 14 business days to get it to the right department. After a few weeks a representative reached out via their message center and said my next statement will reflect the payment they sent. However, they only sent {$35.00} of the {$1400.00} owed. I have again been reached by the county and was told they will start charging me late fees. We have already assessed a late penalty fee of {$120.00} and an interest charge of {$22.00}. We have a servicer and an escrow account set up in order to avoid these types of things. They have yet to help me with this and I am getting ready to XXXX XXXX with this issue still looming over my head. Please help me resolve this because PennyMac has not made it a priority to review the bill correctly.
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| 06/07/2016 |
Yes |
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- Loan servicing, payments, escrow account
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Web |
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Attention : Customer Service for PennyMac Loans Subject : XXXX XXXX XXXX XXXX XXXX XXXX, XXXX, XXXX XXXX This is a " qualified written request '' under Section 6 of the Real Estate Settlement Procedures Act ( RESPA ).
I am writing because you have not applied my mortgage payment properly since XXXX XXXX. I made all payments timely ; however, my loan was reported adversely in XXXX XXXX. Second, my loan payment has increased over {$150.00} dollars without any explanation. As such, I am requesting a full accounting of my loan payment as I feel like Penny Mac is engaging in predatory practices while servicing my loan account. On XXXX XXXX, XXXX, I contacted your loan department and no account explain why my loan payment increased. A supervisor in XXXX lied to me and stated he would follow back up with me regarding my account. He never did and now I am being forced to make a payment I ca n't afford. Taxes and insurance are included in my loan payment and Penny Mac is not properly paying and/or accessing the proper taxes.I am requesting a full accounting of my loan account, all loan documentation to explain credit reporting and escrow payment increases.
I understand that under Section 6 of RESPA you are required to acknowledge my request within XXXX business days and must try to resolve the issue within 30 business days.
Sincerely, XXXX XXXX, XXXX
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| 08/25/2023 |
Yes |
- Credit reporting or other personal consumer reports
- Credit reporting
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- Problem with a company's investigation into an existing problem
- Their investigation did not fix an error on your report
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Web |
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Dispute Timeline : XX/XX/2023 Explanation of Dispute : In XX/XX/2023, I was wrongly labeled as late on my credit report for a supposed missed payment. However, I have proof that I made the payment on time. I had made the payment with a bank account that I've used many times in the past with Pennymac.
I received a confirmation that my loan was paid and I went on my merry way. Come to find out I was marked late and I had no idea why.
I tried to resolve this by contacting their customer service on both XX/XX/XXXX and XX/XX/XXXX, but I didn't receive any help or solution. Unfortunately, I wasn't able to speak to a manager.
In addition, when I did speak to them on a recorded line the customer service representative acknowledged that the payment was received and being processed. They admitted that there was an error on their end, but unfortunately, they couldn't fix it.
Normally, I use my XXXX XXXX XXXX account, but this time I used my XXXX XXXX account. Again, I've used this XXXX XXXX XXXX account before without any issues. After I provided the payment information, the system did again confirm that the payment went through. I didn't receive any notifications about processing problems..
I kindly request that you correct this mistake. I take pride in paying my bills on time and would appreciate your prompt attention to resolve this matter.
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| 01/31/2022 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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My mortgage loan company ( PennyMac Loan Services , LLC ) has an escrow account and it is used to pay the county property taxes. Taxes are due XX/XX/XXXX and XX/XX/XXXX each year. I paid off the mortgage balance on XX/XX/XXXX, so I should only be responsible for directly paying the property tax starting on XX/XX/XXXX ( i.e. PennyMac should have paid the XX/XX/XXXX tax payment ).
When I went to pay the XX/XX/XXXX taxes, I found out that the PennyMac failed to pay county property taxes that were due on XX/XX/XXXX. Consequently, I now have to pay a {$310.00} late payment penalty to the county.
I contacted PennyMac ( XXXX, employee number XXXX ) and they are refusing to take responsibility for the late payment penalty. They claim that they pay taxes out of Escrow just before the " Delinquency Date '' ( i.e., the date when late payment penalties apply ), not the formal " Due Date '', and since I paid off the loan before they made the tax payment, that is simply unfortunate. That logic does not add up. The Due Date is the official date that the county requires payment - while the Delinquency Date just indicates when the payment is so late that the county feels the need to penalize the taxpayer ( e.g. as incentive to pay sooner ).
In conclusion, I believe PennyMac should be required to pay the {$310.00} late payment penalty from the county.
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| 03/25/2018 |
Yes |
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- Struggling to pay mortgage
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Web |
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TO WHOM MAYBE CONCERN I AM NOT YELLING I JUST CAN TYPE FASTER THIS WAY PENNYMAC LOAN SERVICER DOES NOT SEND ACCURATE MORTGAGE STATEMENTS THEY ALSO DO NOT ISSUE THEM ON THE CORRECT AND REGULAR BASIS THEY DO NOT SEND THEM AS PER THE FHA, HUD AND TRADE COMMISSION LAWS IF YOUR LAST DAY TO PAY YOUR MORTGAGE BEFORE YOU ARE CHARGED A LATE FEE WOULD BE ON THE XXXX YOUR NEXT STATEMENT SHOULD BE SENT AFTER THE XXXX AND NOT A DAY SOONER. I BELIEVE THEY TOOK A LOAN OF MINE THAT WAS TO CLOSE IN XX/XX/2015 I HAVE DOCUMENTS THAT YOU CAN SEE THAT THE LOAN NUMBER ON MY HOME FLOOD INSURANCE GO FROM THE XXXX XXXX XXXX RIGHT BACK TO PENNYMAC ALSO MY HOME INSURANCE THE LOAN NUMBER WAS ON THAT AS WELL FOR A WHOLE YEAR SO I ASSUME THAT THEY STOLE MY MONEY ALSO MY PENNYMAC LOAN ALL TRANSACTIONS SHEET DOES NOT LOOK ACCURATE THERE IS NOT A CONSISTANT AMOUNT OF FUNDS GOING IN THE ESCROW ACCOUNT THEY HAVE COMPLETELY STOLEN FROM ME FOR YEARS ALSO MY LOAN IS A FHA LOAN AND THERE IS NO WAY THAT MY FHA LOAN HAS GONE FROM A XXXX WHEN IN FACT IF I DID NOT GET THE LOAN TO XXXX ALSO ON THE ALL TRANSACTION SHEET THE ERASED A LOT OF TRANSACTIONS THE IS SO MUCH HANKY PANKY GOING ON WITH MY HOME LOAN PENNYMAC HAS NO BUSINESS IN MORTGAGE SERVICING AT ALL.AND IT IS TOO COINCIDENTLY MY PAYMENTS ALMOST MATHCED WHAT THEY DO NOW MINUS THE CEDIT CARDS SO IM SURE THE STOLE MY MONEY.
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| 08/26/2021 |
Yes |
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- Struggling to pay mortgage
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Web |
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Since XX/XX/2021, I've attempted to do a short sale with my mortgage lender and they are still in the process of trying to foreclose on my home. I have been offered a short sale option on multiple occasions by PennyMac prior to actually applying and now that I've submitted all of the required paperwork, they refuse to review it. They've wasted tons of paper mailing me applications to apply for the short sale and are now telling me that the foreclosure auction date is too close for them to review my file when there wasn't even an auction date scheduled at the time that I initially applied in XXXX. They didn't decide to schedule a foreclosure date until after I submitted an application, which is a complete slap in the face to me as a struggling homeowner. Not only have I submitted a completed short sale application, but also an offer from a willing and able buyer and PennyMac won't even so much as tell me what are the minimum net proceeds that they'd be willing to accept as an offer. I'm so confused as to why they would offer me something just to refuse to allow me to apply for it. I fell behind after I lost my job over two years ago and I could not afford to catch up. Please help me get through to my mortgage lender because I should not have to go through this when I've done everything that's been asked of me to apply for the short sale.
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| 07/08/2022 |
Yes |
- Mortgage
- Conventional home mortgage
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
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On XX/XX/2022, I contacted my Loan servicing company ( PennyMac ) and submitted an application for a cashout refinance program, to remove my MIP and escrow from our current FHA loan. I submitted all the necessary documents timely for review and consideration. We worked hard for months to pay off all of our credit cards, loan amounts, and any outstanding issues that could be problematic in preparation for the new loan. We were led to believe, due to the amount of equity available, ( greater than 60 % ) we would entertain the maximum cashout we would qualify for. We received the ( LE ) Loan Estimate with a preliminary rate of 4 %. Additional documents were required to qualify for the maximum loan amount to maintain our DTI under 49 %. We specifically advised the loan officer although we are interested in the maximum loan for cash out, we would consider a lower loan we would qualify for, excluding escrow. Our total income submitted for the loan is over {$160000.00}, with no credit card and auto payments, with a middle credit score of XXXX. We believe the loan was denied because we insisted to proceed without escrow. We were never offered a lower loan amount, which we told the loan officer we would accept if our DTI ratio would not qualify for the maximum cash-out. I would like for your office to fully investigate my complaint for closure.
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| 01/28/2020 |
Yes |
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- Trouble during payment process
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Web |
Servicemember |
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I have been working with PennyMac since XXXX of 2019 and have had nothing but issues. My bimonthly payments were not being accepted since " the company doesn't recognize partial payments. '' I had to call every month to have them moved. Starting XX/XX/2019, I went to making full payments hoping it would reduce frustration. However, it hast, just lead to more. They continue to lose payments and their statements/loan activity is so difficult to follow it hard to decipher what they are doing, where the payments are going to, and why a certain amount is put into " Suspense. '' I thought they had to apply an overpayment to the loan in one form or another. I also receive harassing phone calls weekly stating I need to make additional payments. I have filed 2 discrepancies against their payment activity. Their response was " it was an IT issue and it has been resolved. Your partial payment was reversed. '' I never saw this reversal. I also had my agent at XXXX reach out to the company on several occasions and have received vague answers. I don't know where this reversal went but it wasn't to my account. Please look into this. I am currently looking at refinancing and cutting ties with this company. My agent at XXXX XXXX contact information is below.
XXXX XXXX Mortgage Banker NMLS # XXXX XXXX XXXX XXXX XXXX XXXX XXXX, XXXX XXXX XXXX, WI XXXX
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| 09/29/2023 |
Yes |
- Mortgage
- Conventional home mortgage
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- Closing on a mortgage
- Fees or costs after closing
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|
Web |
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In XXXX of 2022 I contacted PennyMac to ask about the possibility of refinancing my mortgage. After working with a loan officer I decided to proceed as I thought the new terms were favorable and the new estimated monthly payment was reasonable. I still have the closing disclosure and it states that my new monthly payment would be {$1800.00}, after paying {$8500.00} in closing costs. So, I decided to refinance my mortgage. Unfortunately, I was notified after an escrow analysis that my new monthly payment would be roughly {$2400.00} which is an increase of about {$600.00}. I contacted Pennymac and advised that I was extremely surprised and concerned about this increase. Pennymac told me that during the closing process they only accounted for half of my estimated taxes which greatly affects the monthly payment and that the best they can do is offer a {$1500.00} credit to assist in the shortage in my escrow as well as spreading out the new increase in cost over several months. I advised that this was a gross miscalculation and if i had the knowledge and transparency of my monthly payment before i finalized the refinance I would not have followed through with it as this is unaffordable for me. I was told that nothing more can be done. Overall, I feel cheated and misled. This increase greatly affects my ability to make my mortgage payments.
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| 11/04/2016 |
Yes |
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- Loan modification,collection,foreclosure
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Web |
Servicemember |
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I received notification on from an attorney on XXXX/XXXX/2016 that my home is in active foreclosure. I contacted PennyMac to work out a payment plan which I had done previously in XXXX but was denied. I was told over the phone that I qualified for the repayment plan, and would be contacted by a representative. I was contacted by XXXX who 's manager is XXXX XXXX on XXXX/XXXX/2016, to start the process of working out the repayment plan. I was also told that foreclosure fees had to be requested from the attorney before this could start. It is now two weeks later and still no foreclosure fees. I do n't feel it is fair that I have time ticking against me, and it is not my fault. The letter from the attorney says I have 30 days to respond this is taking from the 30 days. I feel the foreclosure should stop while you request this sort of stuff. In addition I asked if I should make a payment on XXXX/XXXX/2016, and was told yes go ahead and make a payment so you can reduce the total amount due in your mortgage. Then when I called on XXXX/XXXX/2016 to report I made a payment of {$2800.00} which is two whole months, she said it may not be applied to the account. Why would you tell me to pay and it not be applied. Is this company trying to make me loose my home? I need this foreclosure to stop and be given the amount to reinstate my mortgage ASAP.
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| 12/22/2022 |
Yes |
- Mortgage
- Conventional home mortgage
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- Struggling to pay mortgage
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|
Web |
Older American, Servicemember |
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This is a review below that spells out my complaint. Apologies as I was annoyed when I wrote it ....
Unbelievably bad customer service. I'm a XXXX XXXX and have been around for XXXX XXXX and I thought I'd seen it all. Pennymac provided me with a forbearance on my mortgage for 3 months during Hurricane Ian. My house flooded and I spent {$30000.00} in repair work so it was a relief to be able to hold off on mortgage payments. When I first spoke with a rep about the forbearance it was my understanding that I could repay the missed payments over time. After the 3 months forbearance, I called to find out what my payments would be and the term. Basically what I got was a debt collection spiel and the runaround and someone was supposed to call me back. Never happened so I called again after 3 weeks and same collection spiel and I was told I needed to pay all 3 months back immediately. I asked to pay it over 6 months which would be a payment and a half each month and was told no. WHY ON EARTH WOULD I HAVE A FORBEARANCE IF I HAD TO PAY IT BACK RIGHT AWAY. THAT DOESN'T HELP AT ALL. They finally presented me with a 3 month option which I accepted but still puts me in a tough spot to come up with double payments each month. XXXX heartless!
I just wanted to pay it back over 6 months. That's all. I've been a customer of theirs for 8 years now.
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| 02/16/2018 |
Yes |
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- Trouble during payment process
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Web |
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On XX/XX/XXXX of this year, my mortgage servicer, PennyMac, utilized {$3300.00} of my escrow account funds and negligently/invalidly paid the property taxes for an unrelated loan/parcel. I contacted them, via phone, regarding this issue on XX/XX/XXXX. They indicated they would remedy the error. After two weeks, there had been no progress toward remediation. I contacted them, again, via e-mail, on XX/XX/XXXX. They responded that they were " monitoring the account '' and were waiting to converse with the Assessor 's Office for my county. I contacted them, again, on XX/XX/XXXX. The customer service representative indicated that nothing had been done to remedy the error. I explained to them that I had decided to sell my home and needed the funds restored to my escrow account to apply them to estimated taxes at close. They said they would expedite my request. As of Monday of this week ( the XX/XX/XXXX ) nothing had been done. I have provided them with my parcel number and a copy of the tax bill indicating that my home, which was only constructed in XX/XX/XXXX of last year, has no current taxes due. Because they have not assisted me, I will be forced to pay the estimated taxes ( roughly {$3500.00} ) out of my own pocket at close. Altogether, I have spoken with six customer service representatives and sent five e-mails regarding this issue.
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| 04/18/2019 |
Yes |
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- Trouble during payment process
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Web |
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BORROWER RECEIVED ESCROW ANALYSIS WHICH GAVE BORROWER 2 OPTIONS /BORROWER CHOSE OPTION BE AND SENT IN ELECTRONIC PAYMENT THAT WAS RECEIVED BY PENNY MAC OF XXXX BELOW IS THE ACTUAL POSTING FROM PENNY MAC WEBSITE XX/XX/2019 Payment {$620.00} {$0.00} {$0.00} {$1600.00} {$240000.00} THE BORROWER BY CHOOSING OPTION B WAS INFORMED THAT THE XXXX PAYMENT WOULD INCREASE TO XXXX EST WE NOTIFIED PENNY MAC THAT PAYMENT WOULD BE FORTHCOMING AND EVEN RECEIVED AND EMAIL BACK CONFIRMING PAYMENT RECEIVED.NOW PENNYMAC WANTS TO INCREASE THE PAYMENT IN VIOLATION TO XXXX!!!! THIS IS NOT CORRECT AND DEMAND IS MADE .NOT ONLY DID PENNYMAC TAKE THE ESCROW SHORTGAGE MONEY THEY ARE TRYING TO INCREASE PAYMENT TO XXXX WHICH IS ONLINE WITH OPTION A WHICH BORROWER CLEARLY DID NOT TAKE. PAYMENT SHOULD BE XXXX!!
also the second complaint is that we prefer a paperstatement now their institing a fee if you male apyment between the XXXX and XXXX of every month if you pay online if ypour not enrolled in paperless billing.we were told by XXXX XXXX XXXX the loan originator that there will never be a fee for papestatement sand or any type of fee or penalty there of. borrowers dont have ready access to a computer, to add insult to injury penny mac has rhe gaul to do this and increase are payment unlawfully.the knickel and diming of americas middle/working class continues
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| 09/08/2022 |
Yes |
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- Trouble during payment process
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Web |
Servicemember |
|
I recently filed an insurance claim for some water damage to my home. I contacted my loan servicer on XX/XX/2022 to ask whether there are any restrictions on my ability to perform the repairs to my home. My servicer told me that normally they do not allow self repairs, but that I should keep my receipts and they might release the insurance proceeds to me. The answer seemed somewhat strange to me- either I am allowed to perform the repairs myself or I'm not. So I asked the same question two more times and received the same answer. I reviewed my mortgage and it provides that " During such repair and restoration period, the Lender shall have the right to hold such insurance proceeds until Lender has had an opportunity to inspect such Property to ensure the work has been completed to Lender 's satisfaction, provided such inspection shall be undertaken promptly. '' Nothing in my mortgage gives my lender the right to refuse to allow me to perform the work myself. Nor does anything give my lender any control over who performs the repair. I found PennyMac 's response to my simple question to be highly deceptive. It seemed to be specifically designed to mislead me. I've been a customer of PennyMac 's for over six years and I'm very disappointed with their response. PennyMac should be able to provide me with a clear answer to my question.
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| 08/23/2017 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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On XX/XX/XXXX PennyMac USA paid the incorrect tax liability to the City of XXXX. They paid the amount of {$3600.00} when the total tax liability due was only {$1000.00} ; meaning a {$2600.00} refund was due. Upon learning of the error I called PennyMac in early XX/XX/XXXX. The representative and I spoke with the XXXX Revenue Department and it was confirmed that it was an error on PennyMac 's side. It was stated that PennyMac needed to request the funds and provide the cancelled check and the refund would be provided within 6-8 weeks.
4 months later in XX/XX/XXXX the issue still had not been resolved. I called PennyMac again in XX/XX/XXXX. They did not follow through with the initial request so a second request was created. I followed up again on XX/XX/XXXX and this time spoke to a supervisor who could not provide any more information on why the refund process was not occurring or provide any timetable to rectify the issue. I also spoke with the XXXX Revenue Department on XX/XX/XXXX which outlined the simple process and stated they had no record of PennyMac requesting the refund.
Now my mortgage is coming up for reassessment in XX/XX/XXXX and with such a large negative balance in my escrow my monthly payments will likely increase. It 's unfair that I as the consumer have to take the burden of mistake made by mortgage holder.
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| 05/16/2022 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
Older American |
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Today XX/XX/XXXX I called PennyMac to make our monthly mortgage payment through the automated phone system and it said our payment was {$1400.00}. instead of our usual payment of {$1000.00}. We have not received anything via email nor through USPS. The automated system said taxes had been paid on XX/XX/XXXX.
We then called PennyMac to ask what was going on and we could not get a clear answer as to why our payment had changed so drastically.
We assumed this loan on XX/XX/XXXX and paid over {$4600.00}. in closing costs, taxes and insurance.
PennyMac has been very difficult from day one since trying to assume this loan from our daughter and her husband. I feel they charged us unnecessary fees as my husband was a co-signer on the loan when we assumed it. It took from XX/XX/XXXX to XX/XX/XXXX to simply assume and close on this loan. The assumption fee was much higher than we were told at the beginning of the loan.
We told the gentlemen we wanted to make our usual payment of {$1000.00} and he said there would be a {$15.00} fee for paying via phone through a representative because the automated system would not accept any payment except the amount of {$1400.00}. I do not think in this situation we should have to pay a late fee. This is a problem they need to correct and send us information via mail as to why and what is going on.
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| 06/08/2022 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Applying for a mortgage or refinancing an existing mortgage
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Web |
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On XX/XX/2021 I received a call from a PennyMac agent to refinance my house. He sent an estimate of my new payment and interest. He sent paperwork thru email for me to sign. I did sign everything thru electronic signature. I did not hear from him for few weeks. Which I called him several times in between and left several messages in his voice mail., no responses. Like in XXXX, I received a packet my mail for me and my husband to sign and send it via fax, which I did. Same thing no response that he received the packet or nothing. Late in XXXX I called the company directly and asked about my refinance processing and I was told that my application has been cancelled for no response. I tried to explained how it happened and I was told that my agent 's supervisor was going to call me. Until today, I have not received a phone call from any supervisor. I just got a call form the agent the same day that I called the company asking to speak to a supervisor and I was told by him that my application cancelled because I never submitted any documents. All he said sorry but we only give 15 days to provide documents, but he never told me this and I never received a letter telling me of the decision. If you want to re apply we will give you new rates. sorry and hanged up. I cried because I feel betrayed and laughed and discriminated against.
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| 09/19/2022 |
Yes |
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
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PennyMac is my mortgage loan servicer. I have an FHA loan. I have a letter of approval for purchasing a future primary residence. I had placed my home on the market while visiting/researching moving to XXXX. I made a final decision to remain in my home. At which point I asked to apply for a FHA Cash-Out refinance instead, in order to make home improvements and bill consolidation ( Air Conditioner XXXX Storm Impact Windows, and to Pay off Federal Tax Lien etc. ).
What I experienced was harrowing, in that I was being subjected to what I perceive as a service failure. I was denied/refused the ability to apply for an FHA refinancing loan. I would contact XXXX ( XXXX ) to get clarity on my concern. I received an e-mailed advisement confirming the lender policy was not in accordance with their guidelines. I then forwarded the email back to my lenders loan servicing agent. At that time only, did I receive an advisement, that what they were doing was legally condoned as a fair lending practice by my government. They had applied something I had never heard of in my senior years. They had applied a lending overlay which enabled them to apply their own lending/servicing preferences ( a FHA loan can not be applied for if your home has been on the market within the last 6 months ... initial verbal advisement later changed to 120days ).
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| 08/31/2018 |
Yes |
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- Trouble during payment process
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|
Web |
Older American |
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I wanted to pay off my mortgage by XX/XX/18. Some of the payoff funds came from various XXXX XXXX Bill Pay payments.
On XX/XX/18 I called PennyMac to find out what my payoff amount would be and I was given the amount and told I would need to send the final payment as a wire transfer. I made the wire transfer and assumed everything was fine.
Unfortunately one of the XXXX XXXX Bill payments arrived on XX/XX/18 and they wouldn't take responsibility for any extra interest or MIP payments this caused. Although this seems to be in conflict with XXXX XXXXXXXX XXXX Bill Pay Guarantee, I am not filing a complaint about it.
My problem is that PennyMac says that my loan wasn't satisfied until XX/XX/18, an additional 8 days later, and sent me an escrow account overages check that is considerably less than it should be. When I asked for an accounting of my funds they said I needed to refer to their website loan account information. However, for the past month there has been so much confusion and misappropriation of my payments on their website that I do not trust their accounting. I imagine they expect me to just take them at their word that my refund is correct. I don't!
I want a concise accounting of when they received my funds, what my funds were applied to and why they say my loan wasn't satisfied for an additional 8 days.
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| 06/01/2021 |
Yes |
- Mortgage
- Home equity loan or line of credit (HELOC)
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
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I feel this company participated in unfair and misleading practices, I feel I have been discriminated against in reference in lending, and I feel they have violated a federal consumer protection laws and regulations. I applied for a refinance loan, and I was advised I would receive the amount I asked for. I qualified in every way, my credit score is high, my equity in my home is high, my income is high, and there was no valid reason for denial or than my ethnic race. I was asked what nationality I was and I provided it to them and I was shortly denied the loan. I called numerous time to get a fair explanation and they could not provide a reason. I even tried to speak with a manager and I was unable to get though. The person processing my loan was not clear on the denial as well.
The credit decision was inaccurate because i score above a XXXX credit score, My income in good because i have a full time job and XXXX rental properties that bring in income. I feel something was done wrong while in underwriting and no one has been able to explain why. This transaction started XXXX the Refinance would have pulled out {$60000.00} of equity and i have about {$15000.00} in equity. my payment would have only went up {$100.00} and they ( underwriting ) claim i can not afford that. which is odd because i have more than enough income.
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| 05/30/2019 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
Servicemember |
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In XX/XX/XXXXof this year I noticed that my loan was under the 78 % threshold to have the PMI removed from my loan. I spoke with PennyMac usa customer service and was informed that it was an automatic process and my account would be reviewed and as long as it was current the PMI would be removed at that time. On XX/XX/2019 after realizing that the removal had not occurred I contacted customer service again, this time informing them that my LTV was now at 67.60 %, significantly below the threshold. I was informed that I will need to get an appraisal to ensure that the home value has not diminished. I disagree that an appraisal should be required at this point. I have done many improvements and the value of my home has risen quite considerably. It seems that the language in the Homeowners Protection Act would protect me in this situation. In addition, when requesting specific information on PMI and the review date to remove it, the agent could not provide the info. The excuse was that all that information was on scanned copies of paperwork submitted in closing that were not labeled, and that it will take research to provide that information. I pointed the obvious conflict that if there was a scheduled review date then it should be recorded in the system.
I would prefer the PMI be removed as soon as possible.
Thank-you
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| 02/21/2020 |
Yes |
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Web |
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XXXX XXXX XXXX XXXX. We paid off our loan on XXXX XXXX 2020, the company showed an escrow balance and we called to confirm this was correct. They said yes verbally and digitally on the website.
They then closed out the account and sent us a check for over {$2700.00} less. We have called for the explanation, why the huge difference, and they said it was because we didn't make a XXXX payment. This did not make sense, because we closed on XX/XX/XXXX. They received the wire transfer in the first week of XXXX and notification ahead of time. They applied it on the XXXX and on the XXXX ; which also didn't make sense, if they received the single payment, why break it up and space it out over days but record it on the XXXX.
We have called and spoke to management over 5 times, each time it was a different story and the numbers changed. XXXX XXXX was the last XXXX. Their object now is to not answer the call or put us on and off hold for hours until we get upset and hang up.
We have been cussed out more than once when they thought we were on silent or hold.
For my wife 's first home buying experience this has been a nightmare.
XXXX XXXX They claim all of this security and safety of your private information, but we are constantly being called and receiving mail by XXXX party people that are marketing business partners.
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| 07/20/2018 |
Yes |
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- Struggling to pay mortgage
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Web |
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My husband was unexpectedly hospitalized and unable to work and we fell behind on our mortgage payments. Just 1 ( one ) month behind. I contacted PennyMac to say we were just a little behind and trying to get caught up and their representative XXXX told me about loan modification. He said we'd be able to miss up to 6 payments to get caught up and the length/term of our loan would be extended accordingly. We filled out all the necessary paperwork and waited - this week we found out we are approved for a modification. PennyMac 's terms, however, are very different than were described to us in the beginning. Yes, we'd be allowed to miss 2 ( two ) payments, however the length of our loan would not be extended. Instead, when our payments resume in XXXX, our monthly payment would be {$90.00} more per month *for the duration of our loan* AND they'd raise the interest rate on our loan as well. If we agree to this, we'd be agreeing to increase what we pay to PennyMac over $ XXXX over the life of our loan. This is clearly fraud - a bait and switch. We were offered a reprieve to catch up on bills and instead now being shown terms that can only be described as predatory. We owe way less on our home than it's worth - this is obviously just a tactic used by PennyMac to force people into foreclosure for PennyMac 's financial gain.
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| 08/28/2016 |
Yes |
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- Loan servicing, payments, escrow account
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Web |
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Hello i am having a problem with my mortgage company Penny Mac. I originally called Penny Mac with the intentions of looking for a pool loan instead I was talked into doing a refi with their company. Penny Mac told me my mortgage would be cheaper by about {$150.00} per month making my new payment {$1900.00}. As you could assume that was great for myself and my family. But, this amount did not last long bc I just received a letter in the mail saying my escrow account is in deficit by over {$8000.00} and rising! When I called Penny Mac their excuse was that they did a estimate for property taxes of around {$2000.00} but the taxes where over {$6000.00}. When I first spoke to them my deficit was in the {$7600.00} range and now just a few weeks later it 's more than {$8000.00}. They said the only thing they could do is up my mortgage to {$2500.00} over a duration of 4 yrs but yet my escrow deficit is still climbing. So now we were dropped by our flood insurance bc there was not money in our escrow account, and picked up by lender assigned flood insurance at a more expensive rate. Also when I called about this they added GAP insurance without my knowledge that day after speaking with them which added an extra {$600.00} or more to deficit. Please help Penny Mac has done nothing but take my Financial security away from me.
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| 03/01/2023 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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I own a condo in XXXX XXXX, FL and Pennymac holds the conventional, 30-year mortgage on this property. As part of my mortgage payment, Pennymac pays my real estate taxes for {$2100.00} per year and the condo insurance for {$1200.00} per year. XXXX insurance is for the contents of the property are paid directly by me to XXXX for {$480.00} per year with a portion of the insurance on the structure paid indirectly through my condo association fees.
Pennymac completed an escrow analysis on the property which resulted in a 50 % increase in my monthly payment. When I was able to speak with them, which occurred after a collection call and a threat to report me to the credit bureaus, I was told that the substantial increase was due to them adding cost for flood insurance at an annual rate of {$2000.00} per year. When I asked them why I would be charged for an insurance policy that Pennymac does not make payment for, I was given the runaround and essentially told that this was somehow my doing.
They have finally agreed to remove this amount from my escrow account, but are still holding me liable for these costs for XX/XX/2023 and XX/XX/2023. They will not remove these charges from my account. I am being forced to lay out an additional monies that I do not have readily available to ensure my credit score is not damaged.
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| 01/05/2021 |
Yes |
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Web |
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My Loan # XXXX This complaint is an additional to complaint filed XX/XX/XXXX and has relevant documentation of mortgage and escrow payments to PennyMac, please add and accept.
There are 3 files uploaded from my bank-XXXX XXXX XXXX XXXX, to show how much, when, and what date payment were made to PennyMac for a 16 months ( XX/XX/XXXX until XX/XX/XXXX ) until mortgage loan closing.
My PennyMac mortgage payments were {$1100.00} from origination date ( XXXX ) until XX/XX/XXXX. However, my mortgage was reduced to {$1100.00} due to an ESCROW SURPLUS and I began making payments of {$1100.00} beginning XX/XX/XXXX.
Payment BREAKDOWN ( $ XXXXPrincipal+ {$370.00} Escrow ) = {$1100.00}.
All payments were made on time from XXXX to XX/XX/XXXX. Then I applied for a COVID-19 HUD forbearance for XXXX XXXX XXXX, however I continued to pay my escrow of {$370.00}.
After an escrow analysis in XX/XX/XXXX, I resumed my mortgage payments with as set by PennyMac, with an increased total payment of {$1100.00} until XX/XX/XXXX closing.
I have NEVER failed to make escrow payment during any month since PennyMac mortgage origination date of XXXX and have attached financial documentation.
PennyMac has continued to falsely state this about me to you in their response, which stated my mortgage escrow had over a $ XXXX {$4000.00} shortage.
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| 10/11/2017 |
Yes |
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- Trouble during payment process
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Web |
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Mortgage company is PennyMac. They failed to pay the XXXX, XXXX school tax bill, although it appears they paid the prior and also subsequent school tax bills. I discovered this a few weeks ago when I received notification from the XXXX, NY County Treasurer ( which included a threat of taking my home if this is not paid ). I contacted the school district after I was able to learn that was the unpaid bill ( the County Treasurer letter only indicated there were unpaid taxes ), who were very nice and informed me the XXXX, XXXX bill had not been paid.
I have contacted PennyMac several times, by phone and through their website messaging center ( for which I log in to my account on the PennyMac website ). The initial written complaint to PennyMac was XXXX/XXXX/XXXX. The most recent attempt to get a result in writing from PennyMac was XXXX/XXXX/XXXX, in writing through their website again. I also called PennyMac today, XXXX/XXXX/XXXX.
I have, as of a couple of minutes ago, had no response to the XXXX/XXXX/XXXX written message to PennyMac insisting on an immediate response and written resolution. In that same message I indicated I would pursue action through Federal legal AHJ if I did not receive a response and written resolution.
Since I have not, herein I am initiating action through your Agency vs. PennyMac.
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| 08/08/2019 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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I closed on my home in XX/XX/XXXX. My property survey submitted during closing indicated that my home was located in a flood zone that does NOT mandate flood insurance.
On XX/XX/XXXX, I was informed by my lender, PennyMac USA, that I was missing required flood insurance documentation and if I had not provided it by XX/XX/XXXX, I would be charged for lender placed flood insurance in the amount of {$2700.00}. I provided my closing docs as well as my survey and they said it wasn't enough. I then had to go directly to FEMA to provide me with a XXXX documentation on my property. FEMA told me I needed to pay for an elevation certificate to obtain this, which I did XXXX {$150.00} ), and long story short, FEMA confirmed that I was NOT in a mandated flood zone. In fact, their XXXX utilizes a flood map that dates back to XX/XX/XXXX.
I provided all the docs to PennyMac USA, but they still charged {$2700.00} to my escrow account, and are now refusing to refund me the full amount. They are claiming that I somehow had a lapse in coverage from XX/XX/XXXX to XX/XX/XXXX, which is impossible. I never knew my home needed a flood insurance policy as per my initial property survey, and my lender is essentially trying to steal {$2700.00} for something I never needed ... which I have proved through and through.
Please help.
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| 03/30/2018 |
Yes |
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- Trouble during payment process
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Web |
Servicemember |
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In reference of XXXX On XX/XX/XXXX, my mortgage was was paid in full, as of XX/XX/XXXX, I have not received the leftover money, I have proof ( USPS Informed delivery screenshots ) THAT I HAVE NOT RECIEVED the money that Penny Mac representative told they mailed.
He or she also stated that " My research found that PennyMac complied with all State and Federal laws and regulations in the servicing of your loan. Therefore, we must respectfully decline your request for compensation '', well she forgot to mention the property lien that regulated in the State or Federal law.
So I want to remind them one more time about keeping a lien on my property pass the State prescribed time.
According to Kentucky Statue - KRS 382.365 " Release of lien, with notice to property owner, within thirty days of satisfaction '' I should have received a notice of lien removal within 30 days of paying of. On XX/XX/XXXX I personally went to XXXX County Clerks office in XXXX KY and confirmed that there were nothing filled to remove the lien. The same day I paid XXXX dollars to sent a demand letter to get my money and release of the lien. PennyMac have received the letter on Monday,XX/XX/XXXX.
The only thing the Penny Mac representative was care about is to make response on time with CFPB, The only deadline they met on time.
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| 11/16/2021 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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In XX/XX/2021, I received a letter from XXXX claiming I didn't pay my property taxes. Since the inception of my mortgage, my property taxes have been paid timely automatically from my Escrow. However, PennyMac failed to pay property taxes causing me to receive an embarrassing rebuke from the County, for which, I entrusted this responsibility to Penny Mac from origination to on-going maintenance of my mortgage. PennyMac claimed there was insufficient money in my escrow once " I " made them aware of this issue, in which is another problem within itself and should open question to Penny Mac 's capabilities and controls for monitoring similar issues with other borrowers. Nevertheles
s, PennyMac presented options in which they could resolve the issue, in short, they submitted a payment to the County AND " elected to '' roll the balance into my ongoing mortgage monthly payments for 3-4 years without my expressive consent. I have issue with PennyMac 's management and oversight of its escrow activities. PennyMac should have had better processes and controls in place to detect and prevent this property tax gap and miss-payment. PennyMac took over this loan through a refinance and should have had processes in place to ensure my property taxes would be paid timely, just as the previous owner of the mortgage.
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| 01/04/2021 |
Yes |
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Web |
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PennyMac USA Loans Loan # XXXX I have tried calling PennyMac and can never get through and only hold to wait for a representative to answer for over 43 minutes each time, total 1 hour 33 minutes. I have received conflicting statements regarding my escrow payments and total payment and total payoff.
1. PennyMac continues to pay from my escrow account PMI for XX/XX/XXXX, XXXX XXXX scheduled to pay PMI on XX/XX/XXXX and the loan was closed XX/XX/XXXX and paid in full XX/XX/XXXX ; see attached documentation.
2. The loan payoff amount was paid in full from XXXX firm and this did not include monies from our suspense fund. See attached documentation 3. I called XXXX XXXX XXXX XXXX and was told an insurance check refund of {$330.00} was mailed BACK to PennyMac who will send us the {$330.00} check. But I have not received a check for that amount. The only check I received was {$2.00} ; see attachment.
4. PennyMac continues to falsify information and documentation in an attempt to keep monies owed back to us. See documentation.
5. The respondents own response to the previous complaint Dated ( XXXX ) XXXX conflicts the new documentation I have attached.
Please help us recover All monies due back and keep PennyMac from harming us financially. Your attention is greatly appreciated.
Respectfully XXXX XXXX
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| 04/17/2019 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
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Web |
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Throughout XX/XX/XXXX I received three supplemental tax bills from XXXX XXXX County. Shorlty after I received these bills I called to provide the information associated with the bill in order to make sure it would get paid. This was on XX/XX/XXXX. When calling the associate took down the specific tax information and assured me that PennyMac will take care of the payments through my escrow account.
On XX/XX/XXXX I received written correspondence from XXXX XXXX County indicating that the payments were not made and that penalties have been assessed. On XX/XX/XXXX, I notified PennyMac about the problem and sent them copies of the notices.
On XX/XX/XXXX PennyMac responded to my concerns by stating they are not responsible for supplemental bills nor would they pay the penalty unless I notified them. I responded by stating that I did notify them per my original complaint to them and that they should take action immediately along with covering the penalty costs.
On XX/XX/XXXX I received a message from PennyMac saying they would take care of the payments. They said I should wait 14 business days before checking. It is now beyond 14 business days and they still have not taken action. One of my bills has a due date of XX/XX/XXXX. which is now past. As such, additional penalties have now been assessed.
|
| 07/20/2023 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Struggling to pay mortgage
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|
Web |
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An application was submitted for a mortgage modification. For the past three months the account has been under review for mortgage assistance. Though there was a point of contact assigned to the case, XXXX XXXX, I did not hear from him until the complaint was filed with the XXXX. Prior to that time, I was calling and leaving voice messages but there was no response from him. I was also leaving messages in the account portal. There was never any clear or concise information about the loan ; just told it was under review. Just a complete runaround experience! Then the application was allegedly denied but then I was told that information was incorrect and that the application was still under review. During this time, my credit was being adversely affected. When I initially inquired about this, I was told that it was at the lenders ' discretion to report the late payments- which didn't make much sense since I was obviously in dire need of mortgage assistance. However, after speaking with the XXXX XXXX Department, I was advised that the adverse reporting would be reversed once the application was approved. It has now been approved and in light of this unsatisfactory application process that prompted a XXXX complaint, I am requesting for the negative reporting to be removed from my credit profile.
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| 09/29/2020 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Applying for a mortgage or refinancing an existing mortgage
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|
Web |
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The company continually fails to address the reason for my complaints with them.
Upon filing my first complaint against PennyMac, XXXX quickly called to address. She overly apologized on behalf of the company, implied suggestions of sweeping changes, however nothing was followed up. She simply is there to defer the situation and sweep their failures under the rug. In the process of an open application, should it take 6 attempts to reach someone??? Why will XXXX not acknowledge or address this??? She has listened to all calls and reviewed all emails. Is it negligent to have passed not properly reviewed my financials and double counting a mortgage and auto payment. XXXX calls this a " Complex '' review? She stressed it as she used " Complex '' twice to explain how the PennyMac team works. Why is it that the first negligent loan officer finds my debt to income to be 77 %, after a week of trying to reach someone to understand what they were reviewing, another finds 55 % ( see my retaliation Complaint against PennyMac ), but all others find it to be 35 %???
XXXX 's only position is to defer the situation and pretend she is to make changes in the company. It appears that she has no control of this and didn't even know if the initial loan officer still worked there. Doubt he was reprimanded even.
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| 09/18/2023 |
Yes |
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- Trouble during payment process
- Fees charged
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Web |
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I AM NOT INTERESTED IN MORTGAGE ASSISTANCE.
if the woman who opted to send me the documents wouldve told me that I was going to be restricted from making payments upon reviewing my options I wouldve never agreed to receive the information.
I made a promise to pay on XX/XX/15. Upon logging in to make my payment I was restricted. I couldnt make my payment via phone and the weekend came. It is now XXXX morning and I am on the phone with someone who is telling me I can make my payment however I have never accrued a {$90.00} late fee. I am extremely disappointed in XXXX XXXX. This was supposed to help me and instead tied my mortgage up so much that the only way I can remove this status and regain access to online features is to pay two months. I have never been late on my mortgage and in all the verbatim scripts the woman read me that told me about mortgage assistance she didnt mention once that I wouldnt be able to make my payments. All because I asked to pay half on my mortgage on the XXXX and the rest on the XXXX. Ridiculous. I cant wait to tell everyone about XXXX XXXX inability to help customers. Sounds like yall would rather kick people when theyre down. Cancel the app, Im not interested in any Help yall offer if it isnt waiving that {$90.00} late fee that you mislead me into accruing.
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| 07/10/2021 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
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- Incorrect information on your report
- Public record information inaccurate
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|
Web |
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The mortgage company is reporting forclosure on my account in XXXX of XXXX and the house was sold and paid off in XXXX of XXXX. There was no forclosure on my property they tried to do a forclosure fraud in the home. They held up paperwork twice for two buyers so that we would go into forcloser. In XXXX i spoke with several employees from pennyman and i was told the forclosure was a mistake amd it would be taken off, so XXXX my wife and i go to start looking to buy a house and the forcloser appeared again on my credit report so i got back intouch with then amd was told again they would take it off amd did not. so i reached out to XXXX amd was told to have them send a email stating that so i did amd was told that a fullfillment department would reach out to me to take care of the issue, come to find out there is no such thing as this department. so now im still battling with pennymac to have this removed this had caused alot of problems and issues with myself and my family as we are trying to purchase a new forever home. so my last step is to contact the consumer finance to help solve this problem and get this removed off my credit report thanks. again i was lied to for over 3 years now back amd forth from a major mortgage company which i read up on the XXXX and there ratings are not good.
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| 02/28/2020 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
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|
Web |
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Good afternoon. We're reaching out to you in the hopes that you will assist us with reinstating our loan with PennyMac Loan Servicing.
We fell behind on our mortgage payments due to Medical hardship and are currently eight months behind. We decided to withdraw the reinstatement amount from our 401k a month ago and requested the reinstatement figures from PennyMac and their representatives XXXX XXXX on XX/XX/XXXX Wihout those numbers, XXXX XXXX XXXX will not release any funds. We finally received the payoff quote yesterday, the XXXX and we've been trying all day today to obtain account and routing number information from PennyMac, in order to make this payment.
So far, we've called four times and have spent a total of almost two hours on hold. We've also called their representatives XXXX XXXX and been put on hold, only to be listening to the same music as the music that PennyMac has. It's clear that these two organizations are under each other 's umbrellas and are working in coordination to make it as difficult as possible for us to reinstate our loan.
This is an emergency and a very urgent matter - our sale date is XX/XX/XXXX, worse than that - the payoff quote that they provided is only good through the end of XXXX. Please reach out to me at your earliest convenience.
Thank you!
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| 07/06/2023 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
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- Incorrect information on your report
- Account information incorrect
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|
Web |
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Had a mortgage through Pennymac. Long story short... I went through a very XXXX divorce from my ex. I suggested to the judge to award him the home and he was to have it refinanced. I moved out of the house in XXXX. I have HARD, SOLID proof that the FIRST date of delinquency on this loan was in XXXX of XXXX, yet after having disputed this with XXXX and Pennymac - NUMEROUS times ; I have yet to get a clear, concise resolution as to why they are still listing the first date of delinquency as XX/XX/XXXX. I was unaware of anything that had taken place on this loan because I had moved out and had no communication with my ex. My professional career is contingent on my credit history. I can not understand how I have proof of the first delinquency date, THAT I SENT TO THEM, and yet it still shows on my XXXX credit report. XXXX is the only bureau still reporting this and Pennymac is not helping - in the aspect of accepting my HARD proof as evidence that the information is absolutely incorrect. I've written both companies and to no avail had any progression. I want the CFPB to investigate it. It is causing me financial and personal stress. I just want Pennymac XXXX XXXX to be responsible enough to admit that the information they're reporting is in fact INCORRECT & AN UNFAIR PRACTICE and to FIX IT!
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| 09/12/2022 |
Yes |
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- Trouble during payment process
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Web |
Servicemember |
|
I refinanced my mortgage with XXXXXXXX XXXX on XXXX XXXX. Pennymac was paid in full after this process and XXXX XXXX informed me that I should receive the money back that was in my escrow account with Pennymac. Well the amount in my escrow was {$3600.00} on the XXXX statement but Pennymac only gave me {$660.00} back without any explanation, except some made up escrow analysis which started in XXXX which only shows {$1000.00}. So what happened to the other money on the XXXX statement which is not showing on the analysis?? The first part of discrepancy was on the Escrow Account Disclosure Statement dated XXXX, XXXX 2022. I know each year property tax may increase which will also increase the mortgage payment. My taxes went from {$420.00} to {$670.00} a difference of {$240.00} but Pennymac added on a shortage payment amount of {$290.00} and Escrow Reserve Payment of XXXX which increased my mortgage payment by {$650.00} instead of by {$240.00}.
They are always messing up the account in order to receive and keep people 's money. They really need to be investigated for these shady practices. Everyone is already suffering from inflation and grocery prices and need their money. They already make millions off the interest!! I need the remaining money from my escrow of {$2900.00}.
XXXX XXXX
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| 09/20/2022 |
Yes |
|
- Trouble during payment process
|
|
Web |
Older American, Servicemember |
|
This all started on XXXX XXXX. I received a letter from Pennsylvania Dept of Military and Veterans affair. XXXX Regenal office XXXX. The letter is for tax exemption, on XX/XX/2022, I faxed PennyMac ( Morgage co. ) the letter stating that i am tax exempt from XXXX tax assessment office. I also gave the letter to township office and school tax office. I also keep a copy for myself as i was told to do so from XXXX tax. From that point PennyMac sent me a check in the amount of {$2100.00} dollars. At this time PennyMac contacted me saying that my new Morgage payment was now XXXX dollars, which i paid the following month ( XXXX ) In XXXX of 2022 XXXX sent me a bill that my Morgage is now XXXX. Which i contacted them to let them know that i was tax exempt and that my payment was XXXX then the next day they called me back and stated i was NOT tax exempt and took my taxes up to XXXX. Since then, we have gone back and forth numerous times to resolve this issue and each time telling me i am not tax exempt, I have even had the tax office of XXXX County send me a copy of my tax exemption which i then forward on to PennyMac. Grant you before all this started my Morgage was XXXX. Since then, i have had three or four different Morgage quotes from PennyMac. Need your help please. Thank You XXXX XXXX
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| 11/03/2020 |
Yes |
|
- Trouble during payment process
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Web |
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On XX/XX/XXXX I filed a claim with my insurance company a pine tree had fallen on my home. The total claim was {$33000.00} worth of damage. Insurance company cut a check to me and my mortgage company XXXX. Thinking we would get a check for the whole amount back from XXXX to start my repairs. XXXX required documents from each contractor to be submitted, W-9, contractors waiver of lien, each contractors quote signed by both me as the homeowner but the contractor as well and a copy of the adjusters quote. I turned everything in as required. I finally on XX/XX/21 my first check was cut to fix my roof portion made out to me and the contractor. Once the roof was completed I had to get inspection. Ok completed. Now trying to get more money from them after back and forth XX/XX/21 another check was cut for my fence repair again made out to me and my contractor. Ok done. Here I am again 3 months after my initial claim and still can't get the rest of the money to fix the repairs to my home or any excess. I can understand protecting their investment with the roof of the house but nothing else is mortgaged the remainder of the money needs to be returned to me. I can't even fix my home. We pay for insurance for a reason we shouldn't be held hostiage from our money to make the repairs needed.
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| 06/27/2023 |
Yes |
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- Trouble during payment process
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Web |
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We have a mortgage through Penny Mac. We moved in XX/XX/XXXX. Our taxes were {$790.00}. This XXXX we get slapped with a bill for $ XXXX and our escrow is empty when we paid {$100.00} extra a month! Instead of {$1400.00} we pay {$1500.00} so NOW XX/XX/XXXX our mortgage comapny says that they paid last years taxes they have totaled at nearly $ XXXX with interest, late fees, and other nonsense charges in addition to THAT we also suddenly owe $ XXXX RIGHT NOW for XXXX taxes!!! We are first time home owners, my husband is in law enforcement : we do not have an extra $ XXXX a month that they are demanding! We picked a smaller home bc we KNEW we couldnt afford a larger payment we have XXXX children! For our payment to jump from {$1400.00} to {$2300.00} is absolutely unacceptable!!!! This was PENNYMACS ERROR - and now theyre making US pay for it. ABSOLUTELY NO FOREWARNING and if we dont pay it - we get foreclosed on!!! We are all scared and freaking out! I didnt even know this could happen!!! This is why we got a FIXED INTEREST RATE so it WOULD NOT HAPPEN - YET HERE WE ARE!!! I am just absolutely sick with worry. We could barely afford the mortgage as is! Please help us! XXXX We have called and called and sent documents after document trying to resolve this and no one will help us!!!!
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| 12/01/2015 |
Yes |
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- Loan modification,collection,foreclosure
|
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Web |
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Our mortgage escrow account has been in a shortage since about XX/XX/XXXX and our payment keeps changing. We told XXXX we were moving to XXXX and renting our property. We were exempt from property taxes because we are both XXXX veterans. Our taxes at that time was then added back to our XXXX tax account. XXXX XXXX appraisal district said they would inform our mortgage holder of the changes.The property has been our primary residence since XX/XX/XXXX. We 've tried numerous times to get our mortgage company PennyMac to remove our escrow account because our payments are too high and we want to pay our taxes directly XXXX. PennyMac refused because they said it is in our truth and lending statement that we signed with XXXX Bank XXXX during our loan agreement that said we would have to escrow taxes/insurance. PennyMac in another conversation said by law the XXXX XXXX requires an escrow account for taxes and insurance. They also stated our mortgage balance is not 80 % loan to value to remove the escrow account in a different conversation. They tried to offer us loan modification after we asked, but turned out we would have to ruin our credit for them to help. The letter said they would put 30 days late on our report during the process and so we decided that would not work for us.
|
| 02/04/2022 |
Yes |
|
- Applying for a mortgage or refinancing an existing mortgage
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|
Web |
Older American, Servicemember |
|
On XX/XX/22 contacted XXXX XXXX of PennyMac regarding a streamline refinancing. He discussed the requirements and took application. I informed him wife XXXX need to be on application because we were joint tenants. On XXXX I again sent message stating wife needs to be on loan. On XXXX I was called by closer XXXX XXXX XXXX and she stated she needed my wife 's information. I provided and vented about the process. I asked why the company did not ask for documents up front and not as they go along in the process indicated it was frustrating to the customer. I was told she would schedule closing in the next 48 hours. On XX/XX/22 I sent a request to XXXX XXXX XXXX and asked why was the loan origination over {$6000.00} on a VA XXXX refinance he never answered my question. On XX/XX/22 the loan closer XXXX XXXX called my wife and told her XXXX XXXX XXXX called her and said PennyMac could not do the loan because my wifes 's credit score was too low. I called and questioned XXXX XXXX and asked why performed a credit check and there was not a requirement to do so on a VA XXXX refinance. He responded PennyMac does not accept loans unless credit score is a at or above XXXX. I asked why was you not upfront and did not state PennyMac had additional requirements to a VA XXXX refinance.
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| 10/25/2022 |
Yes |
|
|
|
Web |
Servicemember |
|
Hello, I am a veteran trying to sell my home in XXXX XXXX. I bought the house in XXXX and I refinanced using my VA benefit a few times since. My loan now has a rate of 2.25 %. With the current economy the steep increases in rates and the related declines in property values we decided to allow the potential buyers to assume my VA loan. It is a big benefit for them although they would have to put up a sizable down payment. Our issue is that the mortgage originator ( PennyMac ) has been setting roadblocks and have been extremely unresponsive. We have been going through the process for over 2 months now for something that has historically taken less than a month. I suspect that they are delaying and being unresponsive in the hope that the deal falls through and they can get the 2.25 % fixed rate loan off their books. it is completely unacceptable for them to be delaying and stonewalling the way that they have. I am sure that I am not the only one experiencing this issue, and I am sure that PennyMac is not the only mortgage originator behaving in this way. I hope there is someone out there that can help with this issue. As I said, I am an XXXX veteran who served 6 years honorably and then I was a public servant for an additional 10 years working for the federal government.
|
| 08/14/2023 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
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Web |
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My loan is serviced by PennyMac. I have had two issues with my escrow account requiring me to call PennyMac. The most recent issue has been regarding my homeowners insurance coverage.
XX/XX/XXXX : We received an e-mail from XXXX XXXX alerting us that our homeowner 's insurance payment was overdue.
XX/XX/XXXX : We received a letter from PennyMac that our homeowner 's insurance had lapsed.
On the PennyMac website, under the Escrow page, it shows the current insurance policy number matching the insurance policy coverage period of XX/XX/XXXX - XX/XX/XXXX. The old policy matches the new policy received for the coverag eperiod of XX/XX/XXXX - XX/XX/XXXX. XXXX XXXX stated they have reached out twice to receive payment from the escrow and have not yet received payment. Per the PennyMac website, it shows the " Responsible party '' as " PennyMac on Borrower 's behalf '' The earlier issue I had was for remittance of the property taxes. Similarly to the current circumstance, I had to contact PennyMac to let them know I had received a delinquent property tax notice from XXXX XXXX, MN. The payment information and payment due date in PennyMac 's system matched with what was on the property tax statement. I also had to request that they pay the late fee assessed on my property.
|
| 06/14/2016 |
Yes |
- Mortgage
- Conventional fixed mortgage
|
- Loan servicing, payments, escrow account
|
|
Web |
|
|
HUD statement and Deposits into Escrow seem to match and accurately estimate/account for all required disbursements. Lender however is explaining that the disbursements on the account put escrow in negative balance of over {$5000.00}. No mathematical model I have been able to devise gets myself, the title company, or the loan originator to the same figures Penny Mac is billing me for. The HUD statement accounts for disbursal expenses and the only increases in insurances not on the HUD Total roughly {$540.00}. If paid XXXX months up-front, the HUD total accumulated amount covers expenses less the increase in insurances how could the balance possibly go into the negative past the amount of insurances increase? I believe I am being billed XXXX for XX/XX/XXXX MUD taxes that were collected since loan origination, although clearly included in the HUD the MUD tax was not paid in XX/XX/XXXX but in XX/XX/XXXX. I have repeatedly asked representatives to share the mathematics that equate to the negative balance and they can not and have blamed increases in insurances and taxes that do not exist. I have worked with all parties involved to attempt to resolve and after working with the title company and agent who wrote up the loan originally was instructed to submit this complaint.
|
| 07/18/2022 |
Yes |
|
- Struggling to pay mortgage
|
|
Web |
Servicemember |
|
My house received damage from Hurricane Ida. I spoke with PennyMac about my options and I was told that I could go into a disaster forbearance program and at the end I would be able to keep my interest rate and the payments would be placed at the end of the loan. During the process, I asked very specific questions about the program and the responses that I received were very vague. I recently completed the repairs on the property and spoke with PennyMac about coming off of the disaster forbearance program. I again asked specific questions about the next steps and was again met with what seemed to be intentionally vague answers. As short time later, I received a letter saying that PennyMac would be raising my interest rate to 5.60 %, despite everything else that I had been told by PennyMac representatives. I paid down my interest rate at closing to 2.25 % and now PennyMac appears to be trying to find a way to unfairly cost me more money.
If I had known that PennyMac was going to increase my interest rates so drastically, I would have never entered into the forbearance program. This seems like an intentionally deceptive practice by PennyMac. Every representative that I spoke to seemed to make every effort to be as evasive as possible as to the details of the program.
|
| 12/18/2020 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Applying for a mortgage or refinancing an existing mortgage
|
|
Web |
|
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On XX/XX/2020, I attempted to refinance my existing mortgage and loan with PennyMac USA. They have been terrible lenders and from day one are not consistent with the information they provide and for over the past 8-months have continued to give me the run-around in spite of all the documentation I have provided.
Today, after 8-months they declined my loan without justification and the worst part is they're not willing to even provide me with a courtesy call or an explanation as to why it was declined since in mid XXXX my loan representative XXXX XXXX forwarded me an email that my loan was approved pending copies copies of my most current payroll check and a copy of a bill for verification of address. I provided the information without a doubt. The response they listed on the decline notice simply states " nonowner occupied '' which is untrue. Now, they removed me from their system and I can't get through over the phone to anyone, Also, they collected 2-costly appraisal fees from me totaling close to {$1000.00} which I'm out of pocket for. My property has a value of 50 % loan to value. PENNYMAC has unethical practices and should be looked at for their lack of customer services especially when I've had my loan with them for over 4 years and I have exceptional credit.
|
| 08/09/2019 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
|
|
On XXXX/XXXX/19, I provided PennyMac with my homeowner 's insurance renewal documents which showed that the renewal amount was {$720.00}. I indicated to them this information because the amount they showed on the website to pay out was {$670.00} which was the incorrect amount. PennyMac responded back to me that they would research my concerns.
On XX/XX/XXXX19, instead of paying out {$720.00}, they paid out the incorrect amount of {$670.00}.
Again on XXXX/XXXX/19, I noticed that my escrow information was INCORRECT. Again, I sent my insurance renewal documents to PennyMac indicating that the correct amount to be paid was {$720.00}, NOT {$670.00}. Furthermore, PennyMac listed my next insurance renewal date as XX/XX/XXXX instead of XX/XX/XXXX since my policy is only for one year. So essentially they have the wrong dates and wrong amounts. Again, PennyMac responded back to me that they would research my concerns.
It has now been past the 7 days that PennyMac said they would research and get back to me and no one has reached out to me, my escrow information is still incorrect, and my insurance renewal is STILL UNDERPAID. To avoid having my insurance lapse, I have already paid the difference that PennyMac didn't pay WHICH DEFEATS THE WHOLE PURPOSE OF HAVING AN ESCROW.
|
| 01/10/2023 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
|
|
Pennymac.com My account was set for auto pay, draft on the 1 day of each month of principal and interest plus escrow, a fix amount of monthly payment.
On XX/XX/XXXX, I made a payment which supposed to be due on XX/XX/XXXX. Pennymac.com account portal recognize the payment. The information generated from the Pennymac.com account portal shows my next payment due day is XX/XX/XXXX.
However, on XX/XX/XXXX, Pennymac.com drafted a monthly payment that is not due ( due on XX/XX/XXXX ) and would not able to reverse it. I have called twice, XXXX and XXXX. They have given me 7 days and 2 days, and 1 hours to solve the problem, but nothing was done. The payment drafted by Pennymac on XX/XX/XXXX created over draft on my bank account. They were continue to overdraft when the first failed after 7 days. Their customer rep 's words that they put request to reverse the prepayment of XXXX don't seem have any effect. My bank account is {$1300.00} negative balance and any funds in goest to fill in the negative balance first. I could not conduct normal business such as paying a small amount to the vendors who rendered works for me and waiting to be paid.
They are fully aware of the situation. However, nothing has been done. Their system designed to draft funds even it is not due.
|
| 12/30/2020 |
Yes |
|
- Trouble during payment process
|
|
Web |
Older American, Servicemember |
|
I received a Courtesy Letter from County Auditor/Treasurer indicating my Property Real estate taxes were not paid on XX/XX/XXXX.
Subsequently, I contacted my PennyMac Mortgage Company on XX/XX/XXXX, XX/XX/XXXX and was told that the tax would be paid. Today, XX/XX/XXXX I called Auditor to verify.. no tax paid. I again tried to contact PennyMac customer service and my call drops after a significant hold period. Please Note : Each time I have called PennyMac and keyed thru automated tree I get a recording after selecting Escrow/Taxes/Insurance option that states " your escrow account has not been analyzed. '' Currently, my property taxes now include penalty fees which will increase tomorrow XX/XX/XXXXXXXX I had filed complaints with the XXXX XXXX XXXX and the Minnesota Attorney Generals Office inaddition to requesting help from my Regional VA Home Loan office. I am considering legal action if necessary and will discuss with attorney on XX/XX/XXXX as I have a meeting scheduled on other estate affairs that day. In essence, I find it very troubling to know that a mortgage company will receive my monthly payments, but then is deliquent in servicing my loan, i.e. escrow account. In my eyes PennyMac is guilty of financial negligence or fraud, maybe both. Please Advise.
|
| 08/20/2020 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Applying for a mortgage or refinancing an existing mortgage
|
|
Web |
|
|
PennyMac is my loan servicer. Prior I had never had any contact ; my loan and auto payments were transferred to PennyMac. Upon needing a new purchase loan, I reached out to PennyMac to start the process and found terms to be good so begin submitting files and allowed a credit report. My business structures have some complexity to them and if you don't understand, items will be miss allocated and counted multiple times. They have always lead to multiple rounds of questions for clarity but never a problem. The agent I unfortunately had did not address any, did not return calls or emails. It took multiple calls to get a manager on the phone. Quickly and not surprisingly errors were found however he seemed somewhat uninterested in work through a more complex financial structure. We are in the process of further reviewing however based on the prior lack of care I don't expect too much more than prior - hopefully calls will at least be returned and critical time no longer wasted. I understand its a busy time and there are easier files but to work in such an industry with such reckless care and communication is troubling. As noted, critical time was wasted but not simply returning calls or emails ; at least to say that this is above their understanding and interest.
|
| 12/05/2023 |
Yes |
|
- Trouble during payment process
- Trying to communicate with the company to fix an issue while managing or servicing your loan
|
|
Web |
|
|
I have an FHA loan with PennyMac financial services. I have my property taxes and home insurance escrowed. My monthly payment jumped from {$1000.00} to {$1400.00}. I conferred with my XXXX XXXX XXXX and she agreed that something wasnt right. We had a conference call today ( XX/XX/2023 at XXXX XXXX ) with XXXX members ( which included a supervisor ) of XXXX XXXX service, when asked for a breakdown of the escrow analysis it was revealed that there is an escrow shortage in the account as well a projection amount for up coming escrow payments. My XXXX as well as myself did the math with the information provided and found that theyre charging over double the amount necessary to cover their bases. They refused to elaborate on the additional fees. We asked what their internal policies are for challenging these seemingly unexplainable amounts, we were told there were none. After XXXX minutes, the woman supervisor admitted that she could indeed remove the escrow reserve payment. However there is still an additional {$210.00} escrow shortage payment that needs to be removed, as the increase in the actual escrow payment is more than enough to cover any shortfall or projected costs for the coming year. I am asking that they be investigated for unfair lending practices.
|
| 03/26/2022 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
Servicemember |
|
My husband and I received an Escrow Account Disclosure Statement from PennyMac dated XX/XX/XXXX with an estimated escrow shortage of {$340.00}. On XX/XX/XXXX, we paid the estimated escrow shortage of {$340.00} into the escrow account and then another {$200.00} on XX/XX/XXXX for a total of {$540.00}, so that the monthly payment would remain at {$1400.00}. Despite our covering the escrow shortage, PennyMac raised the monthly payment to {$1400.00} in XXXX, XXXX. I messaged PennyMac twice around XX/XX/XXXX but did not receive a response.
On XX/XX/XXXX I spoke to a XXXX at PennyMac. She said that it is PennyMacs policy to require the Minimum Required Balance in the escrow account ( in this case {$400.00} ), which was her justification for the payment being raised. The {$400.00} Minimum Required Balance is still less than the {$540.00} that we paid into the escrow account, so we do not understand why PennyMac raised the monthly payment.
A reasonable and fair resolution is for the monthly payment to remain at {$1400.00} since we have addressed the escrow shortage. We are unclear why this is an issue with PennyMac when it has not been an issue with any of our previous mortgages. We have requested that PennyMac respond by mail with a plan to resolve this issue.
|
| 08/18/2019 |
Yes |
|
- Trouble during payment process
|
|
Web |
Older American |
|
XX/XX/XXXXpayments were $XXXX. Repeatedly return my payments saying checks are damaged-XX/XX/XXXX check for XXXX returned, XX/XX/XXXX charged late fee of $XXXX. New check XXXX returned "damaged." Amount due for XXXX I paid $XXXX for XX/XX/XXXX & XX/XX/XXXX. XX/XX/XXXXpaid taxes as PennyMac was late. Escrow was short $XX/XX/XXXXwhich I paid but payments went to $XXXX XX/XX/XXXX. XX/XX/XXXX check for XXXX returned "damaged." $XXXX late fee. They got my acct. # wrong when called in and didn't post so $XXXX fee. They said account was closed but XX/XX/XXXX I sent copies of statement showing it was open and active. XX/XX/XXXX check "damaged" letter arrived. XXXX XXXX has been an ignorant, inept communicator and needs education in customer service and business administration. I don't know who it is but they must have graduated at the bottom of their class! Via letter dated XX/XX/XXXX I was told they received another "damaged" payment. I'm sure escrow will be short again this year and why, even though I pay the deficit, do my payments go up so significantly? Out of all the businesses I pay by check why are they the one (1) whose checks are damaged? They are trying to force me into online or auto-pay banking. It's unethical and dirty business!
|
| 05/02/2023 |
Yes |
|
- Struggling to pay mortgage
|
|
Web |
Servicemember |
|
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!
|
| 04/08/2021 |
Yes |
|
- Applying for a mortgage or refinancing an existing mortgage
|
|
Web |
|
|
GREETINGS CFPB, MY COMPLAINT IS AT H.U.D. ALREADY SIX MONTHS, IT IS PREVENTING ME FROM REFINANCING, TO PAY OFF MY BUSINESS, UNDER ESCROW AT XXXX TITLE CO, XXXX CA. DUE ON XXXXPROPERTY TAX LIENS PLACED ON ME FROM XXXX XXXX GOVERNMENT XXXX XXXX. I PAID THE LIEN AND THEY GAVE ME $ XXXX WAIVER UNDER THE FEDERAL HOMESTEADERS ACT. BUT THEY DOUBLED MY TAX. I FILED A COMPLAINT WITH THE XXXX XXXX XXXX JURY ON XXXX AND THEY HID MY CASE FROM ME .I FILED TO SHUT DOWN THE GOVERNMENT CENTER AND REMOVE THEIR BUDGETS. THE XXXX SUPERIOR COURT HELPS ONLY THEIR XXXX MEMBERS AND ENFORCE THIER OWN CA CONSTITUTION. THEY WERE RUNNING THEIR XXXX GOVERNMENT HERE, XXXX IS THE EPICENTER FOR XXXX EXPANSIONISM. SOME OF MY FAMILY MEMBERS AND FREINDS ARE ALSO XXXX. THEY GAVE THEIR MEMBERS XXXX50 % OF RESIDENTS, ALL COMMUNISTS XXXX INMATES FROM THE HANFORD CA E.D.D OFFICE, THEY ARE NOW SHUT DOWN. I NEED HELP CLEARING MY HOME FROM TAX LIENS, I AM XXXX GANG SUPPRESSION FOR XXXX DISTRICT ONLY. THE COMMUNISTS PLACED THESE LIENS ON ME TO RUN ME OFF ONLY D.A.C.A. RECIPIENTS ARE INVOLVED IN TERRORISM RUN BY THE KNIGHTS OF XXXX XXXX IDENTIFIED BY A RANK STAR RATING.MY CASE WITH NATIONAL HUMAN TRAFFICKING ORG.CLEARED THEM OUT # XXXX SUBMITED A COURT XXXX FORM IN XXXX XXXX XXXX UNDER MY NAME.
|
| 05/13/2021 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Applying for a mortgage or refinancing an existing mortgage
|
|
Web |
|
|
My name is XXXX XXXX. I live in California. I am an existing customer of PennyMacUSA Bank. I got an email from my mortgage bank PennyMac regarding to reduce my interest rate by refinancing my loan. On XX/XX/2021 i submitted my application to the loan officer and after communicating with the loan specialist and so on i was waiting to close my loan which on XX/XX/2021 i got an email from pennyMac which was telling a decision has been made on your Loan Application then i opened my portal and i saw that they denied my credit because of too many inquiries and too many accounts with balances. I called them many many times to talk to somebody to see what's going on but every time they put me on hold and disconnect my phone call or they told me somebody will call you but so far nobody called me. First of all i had lot of inquires in last 12 months but i do not owe any thing on my credit cards. Maybe couple of XXXX dollars. beside that based on the information which they got from credit Agencies why they keep me for almost three months after wasting my time and energy they should tell me in advance. On the credit company Agencies report shows exact date of my credit run which is XX/XX/2021. Beside that my credit scores are excellent based on credit agencies.
|
| 10/14/2022 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
|
|
PennyMac took a flood insurance policy out on my behalf without my consent for additional coverage. I live in a XXXX XXXX and the XXXX purchases our flood insurance for the full amount every year. Our master policy states full coverage and is the MAX AMOUNT that can cover my home. PennyMac has this current policy.
PennyMac has refused to fix this issue regardless of my numerous calls and emails over the past few months. Every time I call, they say that they see my previous calls but that there is nothing that they can do at the call service level and tell me that all upper management is unable to speak to me at that time. They have told me XXXX times that a manager would call me back the same day and that has never occurred.
My XXXX 's insurance broker was on the phone with me the last time I called ( XX/XX/XXXX ) to explain how this policy is illegal and they assured both of us that we would receive a call back that day as the managers phone was " not working '' and we have yet to get a call back.
PennyMac has fraudulently taken money from my Escrow account to pay for this insurance that is 1 ) unnecessary, 2 ) one that I did not agree to and 3 ) is a policy that I can not recover from as my XXXX insurance policy covers everything to 100 %.
|
| 08/11/2023 |
Yes |
- Mortgage
- Other type of mortgage
|
|
|
Web |
Older American, Servicemember |
|
We started the process to remove my grandson name off our home loan. We were told on XX/XX/XXXX there were XXXX simple steps, which we complied, and then told that was an error on the company part. XXXX we were told we had to full credit qualification, and he had to sell the house to us. We paid the enitre large down payment. Since XXXX XXXX XXXX the company has been processig the assumption. We have turn in all required documents. In XX/XX/XXXX, we were told it was approved, but they were not at liberty to tell us why, but the finalization of the loan could not be processed for another 6 months. And they offerred to return our assumption fee. I feel the company was discremating aganist our age and the company also is in financial distress as shown on the internet, and we should not had to suffer for their financial position. We were not treated fairly and not treated with honesty. There was no other reason for us to get this approved, and have my grandson name removed. This was the only purpose for the assumption.
I was given names of people in Management that might be able to explain. I left messages, but no return calls I have the large packet of emails they sent and all my documentation. I have all emails and full packet of approved documents
|
| 07/05/2016 |
Yes |
|
- Taking/threatening an illegal action
- Seized/Attempted to seize property
|
|
Web |
|
|
XXXX XXXX XXXX of XXXX XXXX debt collection stated in letter dated XXXX XXXX, 2016 that if within 30 days, I dispute the debt, submit debt validation, or request info on the debt, that by law he is obligated to cease collections. XXXX XXXX signed certified return receipt XXXX XXXX, 2016 and failed to respond to debt validation, QWR, Dispute of charges. Rather than answer by law per his own letter citing the law, XXXX XXXX has gone to Commonwealth of Massachusetts Division of Banks with unclean hands, decieving the court indicating he has complied with the law conducting all procedure prior to advancing foreclosure, has illegaly obtained signature from the Land Court XXXX, on the Soldiers Relief Act, which allowed him to serve " Order of Notice '' to advance his illegal foreclosure. It is imperative that his behavior be investigated and stopped. He obviously KNOWS the law, because he had it in his letter to me, which is how I based my comminications with a 30 day window. I wrote to him immediately and he signed for my QWR Dispute Debt Validation within 48 hours! This ilegal aggressive attempt to take my property without regard for my rights is directly violating federal debt collection practices. He must be stopped. Please assist me on this matter
|
| 01/17/2022 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
|
|
Hi, I had a loan with Pennymac at 3.87 % which I refinanced in XX/XX/2020 with them at 2.75 %.
When I refinanced the loan with Pennymac in XX/XX/2020, my new payment was calculated at 2.75 % and monthly payment was ~ {$2600.00} which included Principal [ ~ {$1000.00} ], Interest [ XXXX ] and Escrow [ ~ {$350.00} incl. property tax and insurance ]. My loan contract closing disclosure has this payment for ~30 years [ unless there's a change in property tax or insurance ].
However, in XXXX, Pennymac changed my monthly payment from ~ {$2600.00} to {$3300.00}, an increase of {$670.00} per month and they did communicate about it in advance.
When I spoke to them about the increase, first their officials told me that your escrow is increased because property taxes have increased in your county which isn't a true statement. When I escalated this issue, I was told someone in their refinance team did the calculation mistake in the closing disclosure and numbers told to me were incorrect when I signed the contract.
I wanted to reach out to you if this change can be reversed because this is a significant increase on monthly payment and something not in line with my loan disclosures that I signed.
Please let me know if I can clarify this issue further.
|
| 09/02/2022 |
Yes |
|
- Trouble during payment process
|
|
Web |
Servicemember |
|
On XX/XX/2022, I was charged {$1800.00} by PennyMac for not paying my insurance premium in a timely manner. In XXXX XXXX, I was going through a refinance with XXXX XXXX, for a rate of XXXX. During the process is when I found out from the other lender that I did not have property insurance. Once I found out I was in an extreme hurry to find some insurance for my house since I did not have insurance from XX/XX/XXXX - XX/XX/XXXX. I could not find not one to cover me except Virginia XXXX XXXX XXXX. This is not good insurance but I accepted it because no one would cover me. Because of this one instance what has happened : 1. No one but the state would cover my home.
2. PennyMac charged me {$1800.00} for property insurance when it was their responsibility to pay my property insurance.
My escrow is {$180.00} a month, my property tax is {$5.00} a month + {$74.00} a month. When I called today she advised that {$100.00} went to shortage escrow. My escrow balance right now is $ XXXX {$180.00} because I made a payment today.
$ XXXX XXXX {$2200.00} property insurance is {$880.00} + property tax is XXXX = {$890.00} There is no shortage, there is an overage.
The amount of my escrow should be {$74.00}!
I was never informed that my payment was going up.
|
| 01/15/2016 |
Yes |
- Mortgage
- Conventional fixed mortgage
|
- Loan modification,collection,foreclosure
|
|
Web |
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I have been applying for Mortgage Loan modification on my property since last year without any positive response and has been turned down XXXX times without giving any reason. My property or Loan number is XXXX I have been behind and struggle to catch up with my mortgage payment since the middle of last year due to medical reasons that has affected the family finances coupled with medical bill incurred during my son 's having a procedure on a XXXX XXXX at his school playing ground last year.
The loan modification application was completed and all the necessary documents including the medical bills were sent to them. I have not even been able to pay the medical bills due to lack fund and some of them have gone to collection. My wife has exhausted her XXXX at her job in the payment of the mortgage with the statement sent to PennyMac.
My wife and myself are both presently in school and work to ensure better financial status and we are not making enough to meet the family financial needs.
The major reason for PennyMac denial is that the family is not making enough money compare to what is going out hence the modification is denied which is the reason for asking for modification and I think should be a reason why the modification should approved.
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| 12/26/2015 |
Yes |
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- Loan servicing, payments, escrow account
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Web |
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Purchased a house in XXXX/XXXX/2014 the initial mortgage was with XXXX then sold to XXXX and then XXXX. We received a letter from XXXX that they just purchased our mortgage and that was it so we paid them every month and never a problem. Then we recd letter stating new mortgage co Penny mac never received our payment so called found out it was sold again and payments had n't got forwarded. So talked to customer service and they said to sent new payments and they would correct it and no problem they never notified me of no payment late payment no call. then I find out its on my credit report and now I cant refinance.. We were never notified till after the fact that they never got the payments we made them and have a good payment history and now because we were never notified they have damaged my credit -no call no letter to say never got payments or payments were not forwarded from XXXX ... So I corrected it on phone and made payment they said would never affect my credit because it had n't been 30 days.. But they did and I 've tried to fix it with them but they are difficult to work with. They insisted they did n't put it on our credit but its there ... We had nothing to do with this they should of notified us that mortgage was sold again..
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| 12/23/2020 |
Yes |
- Mortgage
- Conventional home mortgage
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
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I have student loans that are in XXXX at $ XXXX monthly payment. I was in a XXXX program and became XXXX ill where I had completed the program except my XXXX. I had to withdraw from school for four years and all loans were XXXX with $ XXXX monthly payment ; however, I wanted to complete my XXXX so I re-enrolled in school in 2018 in order to complete the XXXX. The problem I am facing with this mortgage company and other mortgage companies is that the student loan statement does not designate XXXX only state that I am in deferment where the mortgage company states that the 1 % rule must apply to the loans even though they are XXXX and are designated as inschool deferment. Even though these loans are on inschool deferment, the Cares Act also offers deferment in which this company is not familiar with. This confusing law is preventing homeownership for consumers with good credit and ability to pay monthly mortgage payments that are less than rentals. My home loan application is not being fairly evaluated with this company. First, the problem was that a combined total amount on the credit report is reading as a separate loan -- not true. Then the problem was the student loans on the statement with {$0.00} payments are not designated as XXXX.
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| 02/13/2018 |
Yes |
- Mortgage
- Conventional home mortgage
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Web |
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We sold our house financed with XXXX. We turned ownership to the new owner XX/XX/XXXX. My first call to XXXX was on the XX/XX/XXXX. I inquired as to {$2500.00} escrow money that was to be released back to us. They told me that it would be up to 14 days. I called the 2nd time on the XX/XX/XXXX which allowed 17 days. I asked the individual handling my account to put a stop payment on the 1st checkand to Expedite the check. He assured me that he would expedite the check and assured me that I would have the check in 5 days.
XX/XX/XXXX I called for the third time and demanded that the money be directly deposited into our bank account. The customer service manager acknowledged receiving all pertinent information needed to direct deposit the money into our account. She very clearly told me that she would call me when the individual responsible for wiring the money was done wiring it. I provided all the information by XXXX XXXX Pacific Time. She indicated that it needed to be there prior to XXXX XXXX Pacific Time.
I have received no call, nor has the money gone into my account.
I have been lied to, and as far as I can tell they are refusing to release the funds to us. Their deceptive practices are illegal and are completely hinging on fraud.
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| 11/08/2020 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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Respected Sir/Madam, I am currently having mortgage Loan a/c XXXX with PennyMac XXXX. For above said mortgage account I have escrow account set up to make payment towards my Property tax and Insurance. From said escrow account, payment towards Property Tax needs to be made on semiannual basis. For current year 2020, PennyMac did one of those payments after due date and second payment has not been done till date. For the past few months I am following up with PennyMac to make second payment due for this year 2020 to XXXX County IL. In all follow ups I had with the Call Center team, it was acknowledge that tax payment for second half of the year was missed and that it would be processed immediately. I had asked team to provide written acknowledgement stating that I had formally lodged complaint and that it would be followed up. Neither did I receive written acknowledgement of the issue nor the team acted upon on the request to make tax payment to XXXX County IL till date. As a result of delay in payment I am being charged interest of {$92.00}. I request that PennyMac be held responsible to make this additional payment as it has occurred due to lapse on its part. I would request CFPB to intervene and resolve the complaint at the earliest.
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| 02/03/2020 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
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- Incorrect information on your report
- Account status incorrect
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Web |
Servicemember |
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I attempted to make a payment on my mortgage on or around XX/XX/2019. Due to PennyMac 's website being down I was unable to do so. I attempted to call in but the wait times of 20 minutes+ precluded me being able to do so. In XXXX I again attempted to call and spent over 4 hours on the phone attempting to get this corrected. I was told at that time that it would be corrected on my credit report because of the poor customer service I got from PennyMac. I have now called three more times to follow up on this as it is still reflected on my report as late. Each time I called I was assured it would be handled and nothing further would be needed from me. There is not direct line to call at PennyMac ; when I ask for someone I am told " it is all done on the backend. '' Whatever that means remains a mystery. I have never been late on my mortgage. Being unable to speak to anyone about this is most frustrating. I have a VA loan and PennyMac like to brag about how many veterans they service. This is one vet that will call XXXX on that. It's time big companies are held responsible and they hold themselves more accountable. Clearly, this experience has shown me that PennyMac simply does not care about veteran 's, only the money their loans generate.
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| 05/03/2020 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
Older American, Servicemember |
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Our title company got a mortgage payoff amount and wired it to Pennymac on XX/XX/2020. Pennymac held the funds for 5 days before reporting the payoff amount was wrong. I only found out when I logged into Pennymac 6 days after the closing ( a Saturday ) and noticed that the loan was not paid off. Pennymac refused to pay off the loan until we paid another {$320.00} in interest. When I contacted Pennymac for a resolution, they claim they notified us in three days, not 5. The fifth day was a Friday, which is very convenient for Pennymac to collect additional interest from us. I have an e-mail from the company we re-financed with that shows Pennymac waited 5 days to notify us. I don't think it should matter how many days, because the fact of the matter is that Pennymac was holding all but {$2000.00} of our payoff amount. They had {$170000.00} when our payoff was {$180000.00}. In essence, Pennymac charged us {$320.00} for {$2000.00} that was outstanding for 7 days, which is usury. It was also their fault that the payoff did not come for another 7 days because they did not notify us. Pennymac claims they mailed us a new payoff, but we did not receive any such thing. We agreed to settle the matter for {$170.00} and Pennymac sent us a refusal.
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| 07/05/2022 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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I received a notification on XX/XX/2022 that my Homeowner 's Insurance ( XXXX ) was cancelled due to non-payment. Contacted PennyMac on XX/XX/2022 to confirm payment was made from my Escrow, they advised it was just paid on XX/XX/2022 ( though online system says XX/XX/2022 ). Pennymac tried to contact insurance company, but was unsuccessful due to it being a Saturday. Contacted Pennymac again on XX/XX/2022 to find out what happened. They confirmed the above and contacted the insurance company. Insurance company advised they did not receive payment, policy is lapsed and I'm not covered. Only option to reinstate at this time was to pay {$450.00} or wait until Pennymac 's payment was received. Considering this is not my fault, Pennymac should look to make this right ASAP and not wait for the payment to be received, including incurring all costs to reinstate immediately. XXXX has confirmed they will reinstate back to XX/XX/2022 as long as Pennymac 's payment is recevied by XX/XX/2022, however will not provide any coverage for any loss until payment is received. Pennymac also advised I will need to continue to follow-up with the insurance company to validate the payment is received, taking no responsibility for the delay and cancellation.
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| 12/01/2015 |
Yes |
- Mortgage
- Conventional fixed mortgage
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- Loan servicing, payments, escrow account
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Web |
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I refinanced with PennyMac in XX/XX/XXXX. I signed up for bi weekly payments in order to reduce interest and shorten the term of my loan by making an extra payment every year. In XX/XX/XXXX, I requested that they suspend a payment so I can keep the principal only payment. The payments continued to come out of my account. As of XX/XX/XXXX, the bank has mismanaged my payments and suspended payments causing multiple problems with my account. My principal and interest payments are incorrect and the account still has n't been resolved as of today, XX/XX/XXXX. I spoke with multiple reps, but just started keeping track of reps that I spoke to. On XX/XX/XXXX, I spoke to XXXX at ext XXXX. Then on XXXX XXXX, I received a collection call from XXXX requesting a payment. Then I received a collection letter dated XXXX stating my XX/XX/XXXX payment was never received even though I am on a bi-weekly payment plan. Then I called on XXXX XXXX and spoke with XXXX at ext XXXX who said she would request a complete analysis of my account from the first payment. I had a scheduled payment that was supposed to come out on XX/XX/XXXX that has not come out yet. As of now I am paid up for the month of XXXX, yet my account is still in the collections department.
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| 08/23/2020 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
Older American |
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My mortgage loan was transferred to PennyMac. They require an escrow account for property tax and property insurance. That would not be an issue if they were using collected escrow funds to pay my property tax and property insurance. However, they are not doing that such that I must pay myself out of personal funds. To date : 1 ) Property tax was not paid by the due date of XX/XX/XXXX thus incurring penalty and interest charges totaling {$85.00} plus a government record of delinquency.
2 ) On XX/XX/XXXX I received a letter from PennyMac accusing me of not maintaining property insurance and threatening to buy insurance from a vendor of their choosing. This smells like a possible kickback arrangement given that I had insurance but they did not pay the bill from escrowed funds.
3 ) Home insurance was not paid which was due on XX/XX/XXXX thus allowing coverage to lapse. To restore, I had to pay myself using my credit card.
There is a saying, " 3 strikes and you're out '' and I fully embrace that in this situation.
I can only wonder if they are using my escrow funds for their own benefit so that funds are not available when bills come due. I ask that you open a fraud investigation into what may be illegal use of escrow funds.
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| 05/04/2018 |
Yes |
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- Struggling to pay mortgage
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Web |
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PennyMac my current mortgage servicer finally processed my request for mortgage modification. I've been working with XXXX XXXX with Penney Mac with the mortgage company for over a year and they have been difficult to work with and refuse to lower my monthly mortgage. The correspondence with my new modified mortgage payment is XXXX. My previous mortgage payment was {$1300.00}. I was also informed Penney Mac is making a private mortgage insurance claim for the delinquent payments in the amount of $ XXXX.I feel I'm being taken advantage of because you are making a mortgage claim and increasing mortgage my payments. The new payment is more than 31 % of my Gross income. If my payment is based on modification guidelines and my fixed income of {$3000.00} dollars a month, the payment would be {$900.00} monthly including taxes and insurance. I requested this modification because I'm on a fixed income of {$3000.00} and I'm XXXX. I'm also the sole XXXX for my XXXX XXXX father and my son was recently XXXX in a violent crime and was hospitalized for a extended period of time. My son had no health insurance so I'm his XXXX also until he is able to care for himself and I'm having to assist with his medical expenses and medicines. Please Help
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| 01/08/2021 |
Yes |
- Debt collection
- Mortgage debt
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- Written notification about debt
- Didn't receive enough information to verify debt
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Web |
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In XXXX of 2018 I signed a Home Affordable Mortgage Agreement to modify my mortgage loan serviced by Penny Mac. At the time of the modification Penny Mac secured a partial claim from HUD to bring the account current and establish a new payment. The first payment was due XX/XX/2018. However they did not disclose how the funds received from HUD were applied. I received a statement in XXXX of 2018 and XXXX of 2018 showing several payments of XXXX with no explanation. I called Penny Mac multiple times requested a statement of the charges that were covered with the HUD credit balance and my payments. They have failed to provide this information ; they only stated that it went towards " fees '' but have not provided any explanation or documentation of the fees. Based on this information and lack of providing proof of the debt and how the HUD funds were applied I believe balance reported is higher than the actual amount owed on the mortgage. There may have been an accounting error. I need assistance in investigating the validity of the debt since they have failed after multiple attempts to provide a written explanation of how the funds were applied and the fees they charged me. I'm not sure they are in line with what HUD allows.
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| 10/03/2018 |
Yes |
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- Struggling to pay mortgage
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Web |
Servicemember |
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I have been behind on several payments due to being unable to work and living solely on XXXX pay with my wife and XXXX kids. My wife is my XXXX through the XXXX so she cant work but is a XXXX and has filed as a XXXX through the XXXX. We are waiting on those results. All 3 loan mod payments were made in the month agreed except for XX/XX/XXXX, which was made a day late on XX/XX/XXXX. I spoke with PennyMac about this and was assured everything would be ok. I have also been in contact with a HUD company called XXXX XXXX XXXX XXXX XXXX which tried to send a third party request to stop foreclosure. PennyMac did not. This is my XXXX coordinator in which when she talked with PennyMac was lied to about everything. XXXX XXXX XXXX XXXX & XXXX XXXX XXXX & XXXX XXXX HUD XXXX XXXX XXXX XXXX XXXX XXXX XXXX ( XXXX ) XXXX XXXX XXXX XXXX XXXX XXXX Please note we moved to the XXXX XXXX XXXX, AZ XXXX ( XXXX ) XXXX Main ( XXXX ) XXXX Direct ( XXXX ) XXXX Fax Here is the agreement and PennyMacs own payment statements for XX/XX/XXXX, XX/XX/XXXX, and XX/XX/XXXX. Please help. I have a hard time with day to day activities and XXXX kids who depend on me. Finances have recently freed up about {$1200.00} so my mortgage should not be an issue making.
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| 11/27/2017 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
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- Incorrect information on your report
- Account status incorrect
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Web |
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On XX/XX/XXXX, I requested a credit report and for my surprise, the mortgage company PennyMac Loan Services , LLC had not reported my payments for the last two years even though I paid them monthly. The explanation they gave me when I contacted them by phone that same day was that : I did a bankruptcy on XX/XX/XXXX and they did not have my letter of reaffirmation of the debt and they closed my account. I sent them by fax on XX/XX/XXXX the document included in the bankruptcy where I reaffirm my intention to keep the house and the debt. After a lot of insisting, two weeks later they told me that the documents were enough and that soon their bankruptcy department of PennyMac would contact me. When I did not receive a response in more than 10 days, I contacted them again and they told me that this was not the document they needed. My lawyer faxed them on XX/XX/XXXX a copy of the documents presented in the bankruptcy and a letter explaining that the document in question was presented in wich I reaffirm the debt with them and my intention to keep my house. PennyMac insists on not reporting my payments to the credit bureau and continues to report the account as closed, even though I keep sending my payments on time every month.
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| 06/15/2019 |
Yes |
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- Trouble during payment process
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Web |
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My concern is with Pennymac USA and the payment website. On XX/XX/XXXX, I logged onto the webportal to simply confirm the amount due. On XXXX, an unauthorized withdrawal of the payment amount was processed from my checking account by Pennymac USA. My intent was to make my payment on XXXX when my direct deposit came through ( still within my allowed payment period of through the XXXX ). I DID NOT initiate, process, request or confirm authorization of payment to be drawn feom my checking account. After explaining the concern to their contact center I was only refered to their online message center to submitt the occurrnce through there. So, I sent explination along with records reflecting the error and the insufficient funds assessed on my account for review. My bank covered my payment and knowing there would be available next day I requested Pennymac to reconcile via reimbursement of NSF fees equal to {$67.00}. After 3 days i recieved a very simple response " A One Time Draft was completed on XX/XX/2019, via the website in the amount of {$1200.00}. As a result we are unable to reimburse NSF 's fees as it was not a PennyMac error. " Right Pennymac! A one time draft was completed! That is the error! It WAS NOT AUTHORIZED!
|
| 09/16/2016 |
Yes |
- Mortgage
- Conventional fixed mortgage
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- Loan servicing, payments, escrow account
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Web |
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PennyMac adds new costs and requirements to the loan at will. When questioned, they say they will fix the matter, but it is not fixed. They have bullied my family regarding increased payments, addition of escrow items including both insurance and property tax, both of which I have paid out of pocket for years. I had finally gotten them to remove the insurance item last year XXXX XXXX. My Insurance company went to great lengths to make this happen. But several months later, they had added another escrow item ( property tax ) to the mortgage with demands that I pay. They are now threatening foreclosure on a loan that has never had a missed payments, nor late payment. I spent hours on the phone with their escrow department in XXXX XXXX, and it was going to take the better part of a week to fix the escrow issue. I was advised to make an extra payment to ensure that I was not foreclosed on while waiting on this escrow fix. Well they got the extra payment out of me, adjusted my payment up. And the foreclosure notices continue to arrive. I am not happy with a company holding our mortgage making indiscriminate changes to the amounts to be billed each month. It is truly a travesty. It is defintely immoral and probably illegal.
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| 07/29/2023 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
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- Incorrect information on your report
- Account status incorrect
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Web |
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In XXXX of XXXX XXXX XXXX XXXX XXXX who represents PennyMac Loan Services LLC filed for foreclosure under case ID XXXX. After XXXX XXXX XXXX XXXX failed to provide requested information. A active and ongoing dispute was filed with the courts and all payments have been suspended. However the home owner XXXX XXXX has paid the property taxes in full up till the year XXXX and has paid his home owners insurance in full for the past year and current year XXXX XXXX - XXXX this payment was made on XX/XX/XXXX to XXXX XXXX under policy number XXXX. However PennyMac again fraudulently made a payment on XX/XX/XXXX XXXX the question is where did they get the money to pay for insurance if no mortgage payments were allegedly made, And if mortgage payments were made None of them would be late as they try to claim. PennyMac is trying to place XXXX XXXX into debt by making fraudulent payments after he has paid in full and forcing the insurance company to refund him back his escrow payments. Which would place him behind on payments because PennyMac fraudulently made a extra payment and removed the precious escrow payment made by the home owner XXXX XXXXe. PennyMac is XXXX bent on trying to raise the mortgage payments too cause default.
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| 10/29/2021 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
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Web |
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We requested to have PMI removed from our loan with PennyMac on XX/XX/XXXX. The value of our home has appreciated well beyond the 75 % percent LTV they require. They declined my original request. I submitted a second and third request in XX/XX/XXXX. In order to have PMI deleted, we had to pay a one time {$150.00} fee in XX/XX/XXXX to have a broker opinion appraisal completed. The Broker, XXXX XXXX, who was hired by PennyMac, returned an amount that was 78 % LTV amount which didn't qualify to remove our PMI. On their own documents, the lowest comparable home was {$10000.00} higher than the amount they appraised my home. I had obtained other appraisals and am now refinancing to an apprased amount that is {$55000.00} higher than the amount from the PennyMac appraisal. Pennymac purposefully valued our home lower in order to decline removing the PMI fee from our loan. I obtained multiple broker 's opinions and an appraisal to refinance and all of the appraisals/opinions were on average {$50000.00} higher than the BPO obtained by PennyMac. This is criminal behavior in attempt to keep their customers paying them monthly fees. They made every attempt to misrepresent the value of my home to continue charging me a fee for PMI.
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| 05/03/2022 |
Yes |
|
- Struggling to pay mortgage
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Web |
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Hi, the reason I am messaging is because I Purchased a Home in a Co-ownership, in XX/XX/XXXX, we split the payments until XX/XX/XXXX. That month that person moved out of the house, and abandoned all responsiblities, payments regarding XXXX XXXXXXXX, and anything related with the house. In XX/XX/XXXX I lost my job and I decided to take the Forbearance plan from my Mortgage company to avoid late payments. In XX/XX/XXXX I found a new job and I decided to get out of the Forbearance plan and start making regular monthly payments. In order to start making payments Pennymac sent me some documents that I will attach below that must be sign by both owners in order to restart payments, I advised the co-owner about that document and this person refused to sign it, and rather the house to be foreclosure. I communicated with the Mortgage company, advised them about the co-owner not wanting to cooperate and they said it must be sign by both parties. I have been responsible with my Home payments since day XXXX, and I think its not fair I have to be afraid to be in foreclosure just because the co-owner does not want to sign or care about the house. I need help from PennyMac to allow me to continue making payments toward my XXXX.
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| 03/31/2016 |
Yes |
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- Loan modification,collection,foreclosure
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Web |
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I purchased the home in XX/XX/XXXX and my son passed away in the home XX/XX/XXXX. He was only 7 months. I struggled with XXXX until XX/XX/XXXX when I succumbed to it. I went into a XXXX for 1 week then I went on a XXXX leave for 3 weeks after that. When I returned to my job, where I was making close to around {$3500.00} a month, I found that they had replaced me and placed me in a lower paying position where I was only getting paid half of that. I can not, financially or mentally, live in the property. My mortgage is being serviced by Penny Mac Loan Services and XXXX XXXX, my SPOC, told me that there is no opt out option for USDA loans and that I would qualify for a repayment plan? I 'm not sure how, being my income dropped. All I want to do is a deed in lieu. I told him this and he is now asking for documents that I have already sent him XX/XX/XXXX. So, it seems to me that they are very unorganized or just throw away my paperwork. I 'm very upset with the way they are handling this. Not to mention, the lack of sympathy. I do n't mind paying what I am delinquent for, but I will contact USDA myself about doing the deed in lieu, because Penny Mac seems to want to give me the run around instead of trying to help me.
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| 04/20/2023 |
Yes |
|
- Trouble during payment process
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Web |
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I contacted Penny Mac on XX/XX/XXXX about my payment of {$2400.00} which was reversed on XX/XX/XXXX because I received an assistance loan from the XXXX XXXX in the amount of {$13000.00} which covered from XX/XX/XXXX thru XX/XX/XXXX. I have contacted PennyMac several times inquire about where my payment is that I made on {$2400.00} which has seemed to vanish into thin air. I was sent info saying it was in suspense ( as of XX/XX/XXXX it is not in suspense and only showed in suspense on XX/XX/XXXX ) and would be applied to my XXXX payment now I am being told it cant be because I am in Bankruptcy. My Trustee sends in payments all the time that go to suspense and gets applied to my loan eventually so that made no since for the rep to say that especially when my money wasnt in suspense. I called on yesterday I was also told their system says my next payment is not due until XXXX and the money was applied to my account. I told the rep I could not see it and she said give it a couple of days then I get a message later in the afternoon saying something totally different. Either PennyMac mismanaged the funds provided by the state or they are trying to rob me. I want my money applied to my XXXX payment or refunded back.
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| 07/31/2023 |
Yes |
|
- Trouble during payment process
|
|
Web |
Servicemember |
|
I first got my loan through the VA. The handed it off to PennyMac. We tried to set up Auto payments online at the very beginning, but for the first few months the did not take the money out. We tried several times to get this resolved but in the end we ended up having to call them every month to get our payments taken out and then put on a forbearance plan. Since then we have had several instances where they didn't pull the payment when they were supposed to, a few times even to the point we had to transfer money into our other bank account to put together the full payment mid month, or split the payment between the 2 bank accounts. On several occasions I have had to to reach out to the VA to even get PennyMac to pull the payment. They have also already raised our payments once, Now they are telling us we have to accept their offer of a new WAY HIGHER interest and unaffordable payments, going from 3 % up to 7 %, with a {$600.00} payment increase, or we have to give them nearly {$4700.00}. If we do not accept their offer then we will be foreclosed on. I feel like this is a tactic to force us into the high interest bracket. If they took their payments out like they were supposed to we would be having no issues.
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| 12/27/2022 |
Yes |
- Mortgage
- Other type of mortgage
|
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Web |
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This is to notify PennyMac as well as XXXX that there is collusion between builder, title company, coordinated with legal. We received an auction notice contact the contact and he said that the second XXXX XXXX had already removed the foreclosure. It was a lie. There is a picture of one of the auction notices and contact info of who my wife talked to.
We have been working through a loan remodification with PennyMac. ( Very helpful ) we had just made our first trial payment. We then received a notice for auction from a lawyer concerning our home. My wife contacted the individual on the notice and left a message. He called her back and she explained we were working with PennyMac on our first. He said that XXXX was the second but that they had already withdrawn their notice for auction. I spoke with PennyMac they said they had never received anything on or attempted a sale date. They said to ignore those complaints. We one the next month and agai I called. They said they had not received anything and not to worry. Then we got an eviction notice in the first of XXXX and now we have received a summons. Due in three days. We are currently in good standing with PennyMac and our modification as they were the first.
|
| 08/15/2018 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Applying for a mortgage or refinancing an existing mortgage
|
|
Web |
|
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I opened escrow with PennyMAC XX/XX/18 for a refinance loan on my home in California. Their loan department and underwriting team failed to deliver services in a timely manner. Escrow was suppose to close on XX/XX/18, but the loan XXXX dropped the ball on handling my documents. There locked rate expired on XX/XX/18. No one communicated with me whether the documents were submitted for an extension of the lock rate was submitted. The underwriting department complained I had a 6 month gap of employment because of a sabbatical I took to finish my XXXX XXXX. The communication between PennyMac loan department and consumers was horrible. No one returned calls that were made the week of XXXX XXXX. I ask to speak to a supervisor, but never received a call until XX/XX/18, a week later. XXXX the sales manger called me yesterday to go over the details of my loan. He was poorly prepared for the conversation and said I did not have enough income for the loan to be funded. I stated do yo have the right file, because I make over {$200000.00} a year and my debt to ration is only 29.5 %. I feel something is very wrong with how this loan was handled. No written communication was given to me and no resolution was made thus far.
|
| 11/09/2023 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
- Trying to communicate with the company to fix an issue while managing or servicing your loan
|
|
Web |
Older American |
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PennyMac has imposed Off/On 5 times Force Place Insurance over the last 12 months, this began with PennyMac falsely referencing a supposedly expired hazard insurance policy. Although Borrower repeatedly requested that expired insurance policy was never forwarded, yet PennyMac felt empowered to place force place insurance multiple times, using a continual " On/Off '' tactic.
Since then and over the last 4 months, Borrower has been informing and requesting that PennyMac act in accordance with Relevant Government Regulations that govern Force Place Insurance Requirement for Lenders. They continually and completely ignore this.
Furthermore, PennyMac has corroborated this insurance coverage conflict originated by deceitful action by the Loan Originator Company ( XXXX XXXX ) having falsely placed a Counterfeit Insurance Policy. This misled PennyMac to believe that the desired, but not required ( per loan insurance contract ), was to be made available on this Loan. PennyMac, was requested by the Borrower to address source of this deceit with the responsible party, but PennyMac has chosen, to instead ignore and protect XXXX XXXX 's malfeasance and to instead punish the Borrower instead of the responsible party
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| 03/21/2019 |
Yes |
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- Trouble during payment process
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Web |
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PennyMac owns my mortgage. Loan origination XXXX of {$150000.00}. Had home appraisal on XXXX as I considered a refi since escrow overages was {$4.00}, XXXX and a solution was to add overage amount to principal balance of my mortgage. PennyMac attempted to coerece me into refi with cash-back and $ XXXX credit card debt rolled into refi amount even after I stated that I didn't like the idea, but the loan guy convinced me that it was common and a good thing for me to do. After consulting my mortgage expert who helped me when I purchased the home in XX/XX/2012, she advised of the many details of the loan proposal that were negative in their effect on me, and I decided to not refi but instead decided to pay {$4300.00} out of my pocket. When I spoke with PennyMac to cancel refi and to get my monthly payment recalculated with a new lower homeowner 's insurance policy along with my request that they waive/remove the MI charges, they refused stating that the MI will remain until I either wait 2 years or my principal balance is reduced by $ XXXX. I explained that I have paid 78 months of payments, no late payments, and I have over 50 % equity in the home -- they still refused to drop the MI. This seems unfair to me.
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| 03/12/2016 |
Yes |
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- Loan modification,collection,foreclosure
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Web |
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My House Primary Residence : XXXX XXXX XXXX XXXX, XXXX, MD XXXX PennyMac misinformed me that I can not re-instate my home mortgage or make payment on my past due account, # XXXX, despite Maryland law that provides me with the right to reinstate my loan by making past due payments at least one day prior to the foreclosure sale. I spoke with XXXX XXXX on XXXX XXXX, 2016. I asked for re- instatement of my loan, I was told that this was not an option because my account was in " foreclosure '' proceeding. Despite my willing and ability to bring my loan current, as a permanent loss mitigation option, and all my attempts to gain information to bring my account current, PennyMac has refused to assist, instead, I 've given the round around. Notices of foreclosure have not been given to me, instead I 've received letters to 'tenants '' from PennyMac. I learned on Friday, that PennyMac, has been sending personal and confidential correspondence to an incorrect address. I have told PennyMac that the address of the property is my primary residence. I have not received notices regarding foreclosure, and have been denied a legal right to reinstate my loan. Please help, all I 'm trying to do is bring my loan current!
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| 10/02/2020 |
Yes |
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
Servicemember |
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Dear Sir or Madam : I recently applied for a mortgage refinance with Penny Mac. During the application intake phone call, I advised XXXX XXXX that my address was incorrect. My condo unit is # XXXX, not # XXXX as was reported. Another person owns unit # XXXX. This is a critical error. I was assured it would be corrected. Please review the telephone recording. Weeks later, the problem remains unaddressed. I have subsequently reported the problem to multiple parties, including Mr. XXXX, on innumerable occasions. Each time, I have been ignored.
Moreover, in preparation for closing, I signed a closing disclosure ( CD ) advised that money would be returned to me at closing. When the closing appointment arrived, a brand new CD, never previously presented to me, was made available indicating that I owed hundreds of dollars and that I would need to wire funds immediately. The wire cost {$20.00}. I am due a refund and an explanation.
Penny Mac mismanaged this process from the start. They repeatedly requested documents that had already been provided. I am less than impressed.
Please retrain the team, refund the {$20.00} wire fee, and fix my address in any and all documents.
Thank you, XXXX XXXX, XXXX.
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| 05/21/2023 |
Yes |
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
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PennyMac engaged in antitrust behavior and refused to provide me an official loan estimate unless I provided them one that I received from a competitor. When I did, they still did not provide me one in the legal format, which may have been to hide fees, even though their email motto is " Your actual rate, payment, and costs could be higher. Get an official Loan Estimate before choosing a loan. '' When the rep did not provide an official loan estimate, I complained to the CEO. The rep immediately responded to me and stated " Pricing went up today. I am unable to get the quote from yesterday without their official loan estimate from XXXX XXXX. Yes you got the CEO get the middle management involved and that does not help with pricing or getting a loan estimate faster. '' He once again reiterated his anti-trust behavior in requesting competitor rates before providing me one and retaliated against me complaining to his CEO by noting that he is increasing prices and taking longer to provide this data. Most recently, he has also asked for more financial documents. I can not trust this representative with my financial data and he is a danger to all clients and to the financial industry with this behavior.
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| 08/17/2023 |
Yes |
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Web |
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I am currently trying too close on escrow selling my home and my mortgage company PENNYMAC made an error and reported a partial claim on my home to HUD and recorded to the county that was denied. I have tried for a month to get resolved and nothing is happening. I have been told over a dozen times someone would call me back and no one has called me. I have gotten my closing title agent to call and emails sent and no answer. I received a email from a supervisor XXXX XXXX from PENNYMAC stating he had his team escalate to HUD to get partial claim removed and updated and nothing has been done. XXXX XXXX from PENNYMAC hasnt returned any emails and no calls from him updating me on a status of what is going on. I was suppose too close on escrow on XX/XX/2023 and today I still havent closed. The buyers of my home has put in notice where they are living and needs to move into home and cant. This is a great inconvenience and unprofessional of PENNYMAC and their error that is causing me mental and financial anguish. I have had XXXX XXXX XXXX and my XXXX XXXX has been high for past XXXX weeks while trying to get this resolved. I am disgusted and frustrated with error from PENNYMAC that they are slow too fix.
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| 09/29/2021 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
Older American |
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I assisted my sister-in-law with a gift of funds to refinance her home after my brother died. The lender sold the loan to PennyMac. Since the close of the loan in XX/XX/2021, I have received all the emails sent from PennyMac Loan Servicing referencing my sister-in-law 's name with loan and escrow information. I have called on 5 different occasions to get the correction made. Today 's call with XXXX, the rep that answered, is my last attempt at getting a simple correction made to information that was given incorrectly. When she didn't understand the explanation twice, I suggested she escalate the call. I was put on hold twice while she escalated, but never transferred to anyone that might have a better understanding of the issue, I hung up after a 17 minute call to nowhere. I attempted to provide her with my sister-in-law 's email and she indicated I have to have the borrower call to make the change. It is not a change. It is a correction and the borrower 's information should not be sent to someone not authorized to receive it. On two of the previous calls the reps took the information for the correct email, but obviously never made or submitted the change. I have attached the most recent email.
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| 02/22/2017 |
Yes |
- Mortgage
- Conventional fixed mortgage
|
- Loan servicing, payments, escrow account
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|
Web |
Older American |
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We were issued a XXXX Loan # XXXX on XXXX XXXX, XXXX. That mortgage was transferred for servicing to PennyMac Loan Services , LLC ( Now Loan # XXXX ) effective XXXX XXXX, XXXX. Since that time, PennyMac has erroneously claimed on 3 separate occasions that we have failed to insure our mortgaged property at XXXX XXXX XXXX, XXXX XXXX XXXX, CA XXXX. On 2 prior occasions we have provided proof of insurance and on both occasions they have attempted to charge us for exorbitant insurance, which obviously, we refused to pay. Now, they are erroneously claiming for a 3rd time that we did not have insurance in XXXX ( including several months prior to them servicing the loan! ) and they are now attempting to charge us for {$4400.00} for Insurance Escrow when our insurance is already paid in full for the entire year expiring on XXXX/XXXX/XXXX. Today, we are sending them for the 3rd time, proof of insurance from XXXX XXXX XXXX XXXX covering the period XXXX/XXXX/XXXX to XXXX/XXXX/XXXX. Please stop PennyMac from this continuous harassment and require them to correct their records. Additionally, our loan documents specifically demonstrate that there is NO ESCROW money required. Thank you, XXXX XXXX and XXXX XXXX
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| 02/18/2016 |
Yes |
- Mortgage
- Conventional fixed mortgage
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- Loan modification,collection,foreclosure
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Web |
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I had my house foreclosed by Pennymac back in XXXX. First this was a premature and WRONGFUL FORECLOSURE, however bank did not give me a chance to pay back or negotiate any repayment plan. Second my first date of default was on XXXX of XXXX and now it has been more than 7 years and account SHOULD NOT be reporting on my credit, however pennymac is still reporting it. My numerour attempts to contact them to resolve this issue went ignored ....
PENNYMAC LOAN SERVICES L Account number XXXX ....
Recent balance {$0.00} as of XXXX/XXXX/XXXX Date opened XXXX Status Foreclosed.
+ Dispute XXXX XXXX XXXX XXXX XXXX, CA XXXX XXXX XXXX XXXX Address identification number XXXX Type Mortgage Terms 30 Years On record until XXXX XXXX Credit limit or original amount {$940000.00} High balance $ 0 Monthly payment {$0.00} Recent payment amount {$0.00} Date of status XXXX First reported XXXX Responsibility Individual Comment Account information disputed by consumer ( Meets requirement of the Fair Credit Reporting Act ).
Reinvestigation information This item was updated from our processing of your dispute in XXXX XXXX.
Account history XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX Payment history guide
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| 06/12/2020 |
Yes |
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- Trouble during payment process
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Web |
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I am writing to officially file a grievance with PennyMac. I formerly submitted a request to PennyMac to transfer my property to my living trust. A revocable living trust is a legal estate planning tool that places my assetsinvestments, bank accounts, real estate, vehicles, etc. in a trust for my benefit during my lifetime.
Upon my death, all assets held by my trust are distributed quickly and easily to my designated beneficiaries. One of the benefits of a trust is the sheer fact that any and all transactions involved, including distributions, are private both before and after my death. I have received two separate letters from PennyMac requesting 1. ) a complete copy of my trust, and 2. ) acknowledgement that I am the named beneficiary.
I have responded to these requests by providing a copy of a Memorandum of Trust and, Certification of Trust. Both of these are legal documents prepared by my attorney and should more than satisfy PennyMacs request. At this juncture, I firmly believe PennyMacs request is both unreasonable and unjust.
I have attempted to contact a representative on several occasions specific to this matter to no avail and am hereby officially submitting a formal grievance.
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| 06/27/2016 |
Yes |
- Mortgage
- Conventional fixed mortgage
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- Loan servicing, payments, escrow account
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Web |
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In XXXX 2015, I had a broken water line under my sink, which flooded my kitchen. I opened a claim with my insurance company, but due to the amount of the damage, was required by my servicer, PennyMac Loan Services LLC, to sign over the loss draft to them to be placed in a " restricted escrow account, '' and they would disburse the funds in stages throughout the completion of the work. My mortgage balance is approximately {$87000.00}, my property value is approximately {$550000.00}, and the loss draft totaled approximately {$12000.00}. I have never been late on a payment. From the very beginning, PennyMac gave inconsistent and incomplete directions on what steps I needed to take to receive disbursements ; at every conversation with their representatives, I got different requirements ; or upon providing the requested documents, PennyMac would add a new and additional requirement. At one point I was even told that in order to disburse a portion of the funds, I would be required to have an additional inspection ( at my cost ) to certify the refrigerator and washer/dryer were plugged back in and functioning! Their behavior in the loss draft department is unfair, abusive and deceptive at every turn.
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| 03/16/2016 |
Yes |
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- Loan modification,collection,foreclosure
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|
Web |
Servicemember |
|
In XXXX XXXX I completed a VA compromise sale on a property that I owed {$130000.00} on. The mortgage lender, PennyMac, received proceeds in the amount of {$61000.00} on XXXX/XXXX/XXXX. On XXXX/XXXX/XXXX the VA wired funds in the amount of {$34000.00} to Penny Mac on my behalf per the VA guarantee on my loan. XX/XX/XXXX, I received a XXXX from Penny Mac in the amount of {$72000.00}. After contacting PennyMac on XXXX/XXXX/XXXX, XXXX/XXXX/XXXX, XXXX/XXXX/XXXX, XXXX/XXXX/XXXX, XXXX/XXXX/XXXX and XXXX/XXXX/XXXX, I was told on XXXX/XXXX/XXXX that PennyMac would not count the VA funds paid on my behalf in credit to the amount of debt they forgave. They state that I owed them {$72000.00} so that is what is reflected on the XXXX. Despite the VA paying funds on my behalf, they are unwilling to revise my XXXX. The amount of the XXXX will be counted as income when I file my taxes and I feel that the XXXX should reflect the amount of debt actually forgiven by PennyMac. They received an additional amount of money on my behalf that I will have to now pay taxes on and my VA benefit eligibility is suspended until I can pay that money back to the VA. The XXXX does not reflect the true loss to the company.
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| 04/17/2023 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Incorrect information on your report
- Account information incorrect
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|
Web |
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Pennymac Loan Services services my mortgage for XXXX XXXX XXXX, XXXX XXXX, FL XXXX ( loan number : XXXX ). I set up auto-pay features with Pennymac over the phone in XX/XX/XXXX. I identified what checking account I wanted Pennymac to withdrawal from for my monthly payments. For two months, ( XXXX and XX/XX/XXXX ), XXXX attempted to make withdrawals from an incorrect account. A Pennymac representative, during a follow-up conversation once the issue was identified, admitted that I had supplied the correct banking information on the XXXX call and that Pennymac was at fault. Both conversations were recorded with transcripts. It was noted that Pennymac made no effort to use any method of contact ( email, phone, mail, etc. ) listed on my account to inform me of this problem. Moreover, I offered to supply evidence of bank statements confirming that I had sufficient funds in the correct account. Unfortunately, Pennymac refuses to remedy the situation with the credit bureaus. Pennymac has only waived the late payment fees of {$73.00}. I subsequently have an erroneous late payment penalty that is significantly affecting my credit score and is incurring severe hardship on my financial situation.
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| 05/10/2023 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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Back in 2021 I had change insurance due to us having a trampoline. The insurance company requested payment from my mortgage company. Little did I know they didn't pay it after several letters telling my insurance was expiring. So that's when I started investigating to figure what is going on. It usually automatically renews and I never have to worry about it. Well come to find after calling insurance company they canceled due to know payment. So quickly got it fix and contacted the mortgage company. The mortgage company had no clue until I called them. Then made sure they paid the new insurance. Then they debit my account for that insurance and then their own insurance. Months after I got it fixed. If I would have know they were charging me insurance I never would have gotten my own. My account has been so messed up. No one will take ownership in this so guess who gets fault. They won't call me back and give me answers on how fix it. Now after 2 yrs. They went up on my escrow which has cost my mortgage to go up XXXX dollars more a month. So you can say I'm alittle XXXX off bc I feel like I'm the one paying for their mistake. Someone please tell me how to fix this. Thank you XXXX XXXX
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| 08/15/2016 |
Yes |
- Mortgage
- Conventional fixed mortgage
|
- Loan modification,collection,foreclosure
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|
Web |
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This past year, my husband spent 7 days in the XXXX. A XXXX, who does not get paid during the summer and I, a XXXX XXXX XXXX will not receive a paycheck until XX/XX/XXXX. We are unable to pay XX/XX/XXXX 's mortgage and contacted our mortgage company, Penny Mac. For two weeks I have contacted our assigned representative, over 15 times as well as calling into other departments in an attempt to get a response. On XX/XX/XXXX I spent 45 minutes discussing our situation and was told I would receive a call in 2-3 days. On XX/XX/XXXX, I missed a call from our newly assigned representative and returned his call an hour later. I have left 15 messages for him as well as his superior and other departments have emailed him as well asking him to contact me. No return call has been received since XX/XX/XXXX. I was attempting to call early to avoid any late payments and work out a solution for XX/XX/XXXX, but it is clear Penny Mac has no interest in contacting us or assisting in this matter. Today, I sent a 3rd message in their message center and there to, have received no response. Penny Mac claims to want to help their customers but it is clear they have no interest unless it makes money for them.
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| 02/09/2021 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
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Web |
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I purchased a home in XX/XX/XXXX. As part of the mortgage escrow was selected and has been paid every month. In XX/XX/XXXX I noted that the property taxes had not been paid as outlined in the escrow agreement. I contacted PennyMac when I noticed that taxes had not been paid and let them know they had not been paid. They indicated on the first call that they inadvertently set up escrow to be paid on XX/XX/XXXX which is not in alignment with the county 's notice of when payments are due. In addition they committed to expediting the payment. It has now been 3 weeks and four conversations with continual promises to expedite payment. I've followed up each time and found the payment has not been expedited and in fact it is still not paid. A fine of approximately {$2000.00} was levied on the property. I feel there is some level of incompetence or fraud occurring with the escrow process at PennyMac. There has been no contact directly with me and I've asked each time to be notified when it was paid and have never received a call. I view this as a breach of fiduciary responsibility and as I stated I'm questions if there is some level of fraud or just basic incompetence occurring at PennyMac.
|
| 06/01/2023 |
Yes |
|
- Struggling to pay mortgage
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|
Web |
Servicemember |
|
XX/XX/XXXX : I spoke with my mortgagor ( Pennymac ) about scheduling a payment and the representative stated that I would be due for 3 payments. I asked how if I only missed one payment. After my conversation with the representative, I decided to investigate why I was due for 3 payments. When I discovered that in the billing statements dated XX/XX/XXXX to XX/XX/XXXX I was billed twice for that month from XXXX to XXXX. I was told that there was a shortage in my escrow account and that the original bill of XXXX would increase to XXXX. I was unaware that the mortgagor doubled my payment for XX/XX/XXXX. I did not receive any notification of default, nor did I receive any phone calls from the mortgagor debt collectors about said amount. I carried this amount from XX/XX/XXXX to XX/XX/XXXX when I missed a payment. When I spoke to a representative today about the discrepancy, they said that there was nothing they could do about it and that I now owed XXXX. This brought me to 3 months behind when I should only be one month behind. I think that my mortgagor deliberately placed this double payment into my billing statement to force a foreclose on my home and sell it off without my knowledge.
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| 03/04/2022 |
Yes |
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- Trouble during payment process
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Web |
Older American, Servicemember |
|
I refinanced my home with Penny Mac when interest rates dropped about a year and a half ago. When my Homeowners insurance came due last year on XX/XX/XXXX they had not paid it. I went to my insurance company and paid it myself. I complained to Penny Mac and got nowhere. They assured me this problem would never happen again. This year on the same pattern they did not pay my homeowners insurance yet again. It was due XX/XX/XXXX. I spent hours on the phone with them and was hung up on repeatedly. I again went to pay my insurance myself. This company has terrible customer service. Imagine if my home had suffered a fire or something bad. 2 years in a row they have my escrow money and cant seem to pay my insurance. I then demanded they cancel my escrow account as I have more than the ability to pay my insurance and taxes when they come due. Again I can not tell you the nightmare of what it takes to get these people to actually just do their job. Zero help. Zero accountability. Then after I had paid the homeowners insurance the clowns sent me a letter stating they were going to purchase separate insurance. In the middle of all of this. Penny mac really has not a clue what they are doing.
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| 09/24/2019 |
Yes |
- Mortgage
- Conventional home mortgage
|
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Web |
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I was in the middle of refinancing Pennymac home loan at XXXX XXXX XXXX XXXX NV XXXX with another Bank and I signed closing papers with notary on XX/XX/XXXX.
To my dismay I received correspondence from new bank on XX/XX/XXXX stating that they require additional {$560.00} to close loan since Pennymac rep didnt provide correct payoff info to new bank and the reason being Pennymac had to pay extra insurance payment. I do believe that this insurance payment is not necessary since Pennymac already paid {$960.00} to XXXX insurance on XX/XX/XXXX and also paid another {$250.00} on XX/XX/XXXX to another insurance company from escrow account. Some how I was asked to wire additional {$560.00} to close loan due to fact Pennymac rep didnt do due diligence when they fax wrong payoff info to new bank which could possible resulted in late fees and also pay extra mortgage to pennymac as well as new bank at the same time since XX/XX/XXXX. I kindly request Pennymac refund additional {$560.00} payment that I had to pay to new bank due to wrong payoff info provided by Pennymac rep which resulted in me spending extra money / time and mental break down since I was told my loan was closed on XX/XX/XXXX.
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| 08/12/2021 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
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Web |
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My home mortgage loan is with Pennymac, and for two consecutive years their escrow/servicing department has paid my homeowner 's insurance premium late resulting in cancellation of my hazard insurance. Then, to further demonstrate their inability to manage escrow accounts, Pennymac force places hazard insurance to cover the lapse in coverage caused by their failure to pay the premium on time. This is an unacceptable practice and has the potential to cause significant consumer harm. Lender placed insurance is more expensive than what I pay privately. Also, the lapse in coverage and lack of payment hurts my good standing with my insurance company. Pennymac apparently lacks controls and has established a pattern or practice of escrow mismanagement because this has happened to me two years in a row. Imagine how many other consumers this Pennymac is harming because they lack the knowledge and expertise to manage their customers ' escrow accounts. Pennymac 's servicing department should be scrutinized and subject to enhanced examination by their regulator, and if warranted, they should take actions to correct their complete lack of controls and provide remediation for harmed consumers.
|
| 08/21/2022 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
|
- Improper use of your report
- Reporting company used your report improperly
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Web |
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Please make appropriate corrections reported as late payments on Penny Mac listed account # XXXX Law States 15 U.S. Code 1666b - Timing of payments ( a ) Time to make payments A creditor may not treat a payment on an account under an open end consumer credit plan as late for any purpose, unless the creditor has adopted reasonable procedures designed to ensure that each periodic statement including the information required by section 1637 ( b ) of this title is mailed or delivered to the consumer not later than XXXX days before the payment due date.
( b ) Grace period If an open end consumer credit plan provides a time period within which an obligor may repay any portion of the credit extended without incurring an additional finance charge, such additional finance charge may not be imposed with respect to such portion of the credit extended for the billing cycle of which such period is a part, unless a statement which includes the amount upon which the finance charge for the period is based was mailed or delivered to the consumer not later than XXXX days before the date specified in the statement by which payment must be made in order to avoid imposition of that finance charge.
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| 02/27/2020 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
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Web |
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On XX/XX/2020 I received my monthly mortgage statement from PennyMac indicating my payment was not received and I am already due for 2 monthly payment. Although my payment was received as it shows on the statement on XX/XX/2020 for the amount of {$1400.00}, and my monthly payment is {$1400.00}, so my payment was more than my monthly mortgage payment.
I called Penny Mac and spoke to XXXX ID # XXXX on XX/XX/2020 at XXXX XXXX ET, trying to understand why my payment on XX/XX/2020 was not applied and I was told because I am making a bill pay thru my bank, I told XXXX but I have been making the payment for over 6 years now and never encountered this issue and why now this changed without an advanced notice.
I asked XXXX if she could escalate this matter because this is impacting me since my payment is not applied properly, I was told since I am making my payment from my Bank this is the result basically.
I think this is not right and PennyMac is not treating my fairly by applying my payment properly to the account to reduce my principle balance properly.
Could you please advice as to what I can do since PennyMac are not willing to fix the problem nor acknowledging the problem.
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| 04/18/2023 |
Yes |
|
- Trouble during payment process
|
|
Web |
Servicemember |
|
My home was damaged from Hurricane Ian. We were finally issued our claim funds and PennyMac will not issue funds so we can continue our process. We were issued 2 checks that are both spent to contractors to do work. We are in the process of getting our roof replaced next and I need additional funds to be released to pay them the balance or I will be charged 11 % interest which is unnecessary since the money is there. I pay my mortgage on time every single month and have not once asked for any kind of assistance from you. The insurance premiums are paid by ME and this is the reason I pay insurance so I can be protected. I have waited 7 LONG months to start the process of rebuilding and I can not continue without funds. I have already spent more than I can afford out of my own pocket and I do not have any more available. If I could pay for all of this myself I would not need insurance and/or a mortgage and I would not wait this long to have my home fixed. i have always been cooperative, I have sent copies of contracts and have done inspections so you can see I am using the money to fix my home. I need to get my home fixed so i can begin living a normal life again after 7 months.
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| 08/02/2016 |
Yes |
- Bank account or service
- Other bank product/service
|
- Account opening, closing, or management
|
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Web |
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My home suffered damage in a recent flood. The insurance adjuster came out and filed a report on the damage. Checks were issued, but the bank that holds the mortgage, Penny Mac, was also listed on the checks so we had to send the checks in to Penny Mac for endorsement before we could access the money. We sent in all information that was requested by Penny Mac, but the money was not released. When we called to find out what the problem was, we were told that because the loss department had changed locations, our documents could n't be found so we would have to resend in the information. We were also told that there was another form that needed to be completed ( it was not in the original packet ) and would be faxed out to us since they could not email it. It would take 3 days for an approval on the fax. The fax never came. There was no record of the fax even being sent out and our money is still sitting in Penny Mac 's hands with no work being able to be done on the house. When asked to email information initially we were told that this could not be done, but after requesting a supervisor, we were told that it would be done. At this moment, we are still waiting for our money.
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| 07/22/2022 |
Yes |
|
- Struggling to pay mortgage
|
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Web |
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I sent a completed loan modification and assumption packet on XX/XX/XXXX via fax after several other attempts to get them the documents. They did not approve it until XX/XX/XXXX despite having all the information. I had to go into forbearance when my job got canceled due to COVID, and my alimony stopped. I have to assume the loan or refinance as part of my marriage settlement agreement. I have a past due balance of approximately {$49000.00}. I have paid on my home XXXX, and put my pension down on my home, so my equity is important to me. Because of the delay I was not able to receive a better interest rate and it cause the amount of my forbearance to be higher. The loan modification placed the forbearance amount in a second lien on my home. I called Penny Mac to make them aware that I qualify for PHAP and that I received communication that I would receive funding in a couple weeks to pay off whatever I couldn't pay due to forbearance. I called Penny MAC on several occasions to make them aware of this. If they put the funds into the second lien it will not show up that I have a past due balance and the grant will not pay. Penny MAC doesn't seem to care. Can you please help.
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| 09/25/2017 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
|
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I am a victim of hurricane XXXX. I called my mortgage co the week of XXXX XXXX on the process for my damage house. They advised me to mail in my check from insurance to them both on it and then they would disperse funds back within 4-7 days. Last week I mailed the insurance check and verified if they had received and was told no. Then told by another person at mortgage co the process would take 4-5 days to review then around 7 days to mail the check. Then I look online later and receipt for my insurance check had been received. Now I called today to start paying for repairs, and my file has not been approved yet. I asked for a manager to call me last week and no one called then today I asked for a manager to call me and still nothing. I need to pay for the expenses incurred now not later.
It 's amazing they have cashed my check getting insurance on my money ( insurance funds ) and I ca n't even get to pay my bills for repairs. I do n't have an escrow with them even. I have paid my taxes and insurance seperately. This process is ridiculous. I have always paid my insurance and home mortgage on time now when I need them they will not pay me my insurance funds to fix my house.
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| 01/19/2017 |
Yes |
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- Loan modification,collection,foreclosure
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Web |
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I am complaining about PennyMac. They refuse to review my documentation for a mortgage solution. I have completed a full borrower 's response package and I am ready to submit. They are taking financials over the phone and only will do a repayment option. Are they confident I calculated my income and expenses correctly? They told me there are no imminent default programs for FHA. I reviewed www.hud.gov and they do offer assistance. FHA does have imminent default programs available. They made the gesture that I must fall delinquent by 3 months in order to get assistance and then only it is not guaranteed. I am currently in Chapter XXXX bankruptcy and they told me that no credit reporting is taking place ( not true ) and no late charges accruing ( not true ). The mortgage is NOT being paid through the bankruptcy plan. They offer no fax number to submit a borrower 's response package. I need help for them to comply. There is no reason to make this go on as I am in good faith trying to get help. The 90 day rule is during or prior to the financial crisis and HUD has changed their guidelines. I need a list of the current documents I need to submit in my situation in Chapter XXXX.
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| 12/30/2015 |
Yes |
- Mortgage
- Conventional fixed mortgage
|
- Loan servicing, payments, escrow account
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Web |
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I have had numerous problems with the wrong amounts debited from my bank account, numerous escrow and insurance problems and nothing ever seems to get better after two years. The worst home loan company that I have ever dealt with. Most recently XXXX mortgage payments were taken out of my bank account the same week causing me to have a balance in my account of XXXX. I would have not known this if I had n't checked my bank account balance early that morning. If I had n't have checked it I would have bounced several other payments and my card would have been frozen. Not to mention several overdraft fees would have been charged to me. I put an unauthorized debit on the transaction, however my funds may not be available for two days. I ca n't buy gas or groceries for two days because of this. I was told by XXXX that my auto pay would have to be cancelled because a new amount was going to be drafted ( because the previous draft was also the wrong amount ) and then set back up after a XXXX time payment was taken out. XXXX told me several times that I would only be drafted once ... ... ..that is not the case, I was drafted {$350.00} twice in one week. Not acceptable to me ... ...
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| 12/03/2022 |
Yes |
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|
|
Web |
Servicemember |
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On XXXX XX/XX/2022, I started the VA loan assumption process to sell my home. We submitted all of the necessary documentation via secure messages to PennyMac on XXXX XX/XX/2022 after she requested a second copy of previously submitted documentation. This action reset the 45-60 closing clock, and day 63 of our assumption timeline was Monday, XXXX XX/XX/2022, if we assume the start date reset. If we use the original date, I'm on day 91 if I count from the date I originally submitted the required documents. I have had multiple phone calls with the first-line supervisor. Our real estate agent has had near-daily phone calls with managers up the chain. As of today, I understand it with underwriting, but no person on the mortgage assumption team can give an accurate close date, and it is unclear why we have been delayed. 91 days far exceeds what any reasonable person financing a mortgage would expect for administrative timelines. If you are trying to buy or sell via VA loan assumption to minimize mortgage rates, be prepared for an incredibly slow and uninformed process. One processor working on our file, and 6 levels of management to run the assumptions department isn't working.
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| 05/05/2023 |
Yes |
- Mortgage
- Other type of mortgage
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- Struggling to pay mortgage
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Web |
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I entered in to forbearance with Pennymac. At the end of the forbearance I attempted a loan modification due to impacted income due to injury.
Through the process I would get 1-2 automated calls per day. When I would return the call I was told nothing was needed and someone would reach out. After month of this process and getting people on line to assist I was told I needed to send another document that had been sent month earlier. From the time I hung up till the time I called back was lass then 30 minutes and they had declined the modification and filed notice to foreclose. They reopened the modification the next day and took weeks on the decision. During that time my credit score dropped XXXX points. They later declined the modification and I paid Al of the money I was behind.
Now I am in a situation where I have a year of late payments from forbearance that arent supposed to show as late payments, along with fees for being late I wasnt supposed to have during forbearance.
The process with Pennymac will lead to many losing homes. The length of time the process took was the reason my loan was denied, over 4 months my income dropped till I could no longer qualify.
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| 04/24/2023 |
Yes |
|
- Trouble during payment process
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|
Web |
Servicemember |
|
The servicer, PennyMac, has over collected escrow payments, since the inception of the loan in XXXX, XXXX. They are over paying hazard insurance and double paying hazard insurance. XX/XX/XXXX PennyMac paid {$3500.00} to XXXX XXXX, when the premium was much lower than {$3500.00} and when I changed insurance from XXXX to XXXX to lower the premium and provided proof I paid the XXXX insurance premium out of my own pocket, Pennymac double paid XXXX again, a second time, on XX/XX/XXXX in the amount of {$2100.00}. I am entitled to have the escrow account removed in the XXXX month which is XXXX, XXXX. I have requested Pennymac to start the process to remove the escrow account and for them to do a full escrow analysis on XX/XX/XXXX because I believe that Pennymac has over over collected over {$2000.00} each year, for a total of {$4000.00} they owe me and I have proof they are paying the wrong insurance carrier, over paying them the wrong amounts and double paying them. Pennymac refused to remove the escrow account or do an escrow analysis because it would " increase the payment even more '' and are refusing to account for the monies they are collecting in the escrow account.
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| 09/09/2022 |
Yes |
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- Trouble during payment process
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Web |
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I applied for the XXXX XXXX XXXX assistance program in XX/XX/XXXX. I requested back and future payments as I was already behind and struggling to make my mortgage payments. I did not get notice of approval until XX/XX/XXXX. I received XXXX letters. The first one advised that I was getting XXXX toward back payments. The back payments were supposed to be for XXXX, XXXX, XXXX, and XXXX. I received a second letter advising that they were making XXXX forward payments.
Pennymac received the first payment of {$14000.00} on XX/XX/XXXX. At that point I was only behind 2 months ( XXXX and XXXX ) payments totaling {$7400.00}. Pennymac could have done 2 things with the remaining amount of {$7400.00}. They could have put it towards future payments or refunded the payments I made in XXXX and XXXX and used that extra money toward those payments. Instead they made a principal reduction payment in the amount of {$7400.00}.
I have tried to explain to Pennymac that the money is for payments, as this program is designed to assist home owners with payment assistance. I am being told that the monies have been applied correctly and nothing can be done to reverse this action as of now.
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| 04/14/2020 |
Yes |
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- Trouble during payment process
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|
Web |
Older American, Servicemember |
|
We purchased our new home in XXXX XXXX as our second home through XXXX XXXX in XX/XX/2019. The loan was sold to a broker and the finally sold to PennyMac Loan Services sometime in XX/XX/2019 under Loan Number XXXX. In XX/XX/2019, we wrote a letter and emails to Penny Mac that we would like to include our son as part of the loan. He has taken over all financial and maintenance responsibilities to the home since of our senior age. We have delivered all required documents that they require through their Simple Assumptions Dept. We started with email with a certain XXXX XXXX in XXXX XXXX, 2019. From there on, we were bounced around from one person in Simple Assumptions to another until we were finally assigned a point of contact XXXX XXXX. Since then we have been calling this person and we have not yet received any calls or response from him or from any other staff to this day. Also at the same time, every month I would drop a message to their online website Message Center. And every month until now, all I get is an apology from a certain XXXX. Every month a message. Every month an apology from the same person. This is outrageous and unsatisfactory. No customer support.
|
| 09/15/2023 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
- Escrow, taxes, or insurance
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|
Web |
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PennyMac received my loan in XXXX from XXXXXXXX XXXX PennyMac paid my XXXX insurance premium and was notified of the XXXX premiums for insurance that were due. PennyMac did not pay my XXXX home insurance premium. XXXX ( home insurance ) therefore terminated my homeowners insurance. Neither XXXX nor PennyMac notified me of the loss of coverage on any platform. My escrow account has enough to pay for any premiums, and I have never been late on a single mortgage payment.
My house was burglarized on XX/XX/XXXX and I was unable to file an insurance claim due to a lapse in coverage.
When speaking to a PennyMac representative, backup insurance was offered, but it only covered home damage, not lost or stolen items. I was also told by the representative that I should have contacted XXXX to inform them that I had switched from XXXXXXXX XXXX to PennyMac when I received the welcome letter from PennyMac. This was told to me by the representative before I discovered that PennyMac was already aware of which insurance company to pay, having paid the XXXX premium.
XXXX and PennyMac should have notified me of my termination of coverage. PennyMac should have paid the premium.
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| 01/27/2019 |
Yes |
|
- Trouble during payment process
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|
Web |
Older American, Servicemember |
|
I have a VA home loan. The originating XXXX, XXXX XXXX XXXX put the paper out onto the market where it was assumed by PennyMac Financial, XXXX XXXX, CA. As a XXXX Veteran, my home State of Wisconsin allows me full credit for my property taxes if they are paid, in full, by the close of the calendar year. PennyMac has billed me and held the tax amount in an escrow account.
Well in advance of the tax due date, I phoned and e-mailed PennyMac offering specific information to ensure my property tax bill would be paid from the escrow account. I received a reverse thrill on XX/XX/2017, when the Township Treasurer informed me that payment for the taxes were not received. I paid the amount due out of my own pocket. What occurred from that point was a litany of fables and no release of the funds from my escrow account.
The number of roadblocks and disingenuous statements I received proved to me that PennyMac has a policy to delay payment of escrow amounts to enrich themselves. I understand " working the float '' and their collective errors could not be happenstance. Only after pressure was applied to PennyMac by XXXX, did I receive some degree of solution to the problem.
|
| 01/15/2023 |
Yes |
|
- Struggling to pay mortgage
|
|
Web |
Servicemember |
|
My mortgage company is PennyMac and they told me that the contract for the loan was constitutionally acceptable. They continue to make me pay for a fraudulent contract when lawful money does not exist. The Government is required to pay for everything until the return of lawful money, it is public law. Every Mortgage company in America enables and enforces peonage. Turning the American people into debt slaves, pay or they will hinder/ruin your livelihood. Since the mortgage contract is not constitutionally backed and I am a natural person with all rights reserved, without prejudice and not a legal/fictitious person ( fake ). I want my house deed and the lein released off my house, because the constitution rules and common law is the supreme law of the land. A legal contract only apply to a legal person. Considering I am a real, natural person and not fictitious, the legal documents do not hold jurisdiction or power over me. I am also aware of the definition for 'personas ' and the philosophy behind the creation of a legal and fictitious person. I have also paid over XXXX XXXX dollars towards a XXXX XXXX dollar house and still owe XXXX XXXX dollars. usury anyone?
|
| 01/20/2023 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
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|
Web |
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On XX/XX/XXXX, I called PennyMac to request that I would like to remove the escrow account. The representative on the phone noted to me that it would be removed within 30 days, which is before my property taxes are due. I followed up with a question regarding who will be responsible for making the XXXX property tax payments due on XX/XX/XXXX. PennyMac informed me that I would be responsible for making the payments, so I did so on XX/XX/XXXX. I have not received my escrow refund, so I decided to call PennyMac today, on XX/XX/XXXX. PennyMac informed me that they did in fact make the property tax payment, which is contrary to the guidance I received in XXXX of XXXX. Due to PennyMac 's error, my escrow balance is currently negative and I will have to wait for a refund from the XXXX XXXX XXXX XXXX Treasury Department, which is notoriously slow and quite inconvenient, especially considering the amount in question. The taxes that PennyMac mistakenly paid were {$6700.00}.
I was expecting an escrow refund of {$4600.00}. Due to PennyMac 's error, I now owe PennyMac {$2000.00} and have to wait for a refund of {$6700.00} from the XXXX XXXX XXXX XXXX Treasury Department.
|
| 10/28/2021 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Struggling to pay mortgage
|
|
Web |
|
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We requested mortgage forbearance from PennyMac on XX/XX/XXXX and recieved a notice of acceptance that stated we would not have to pay back the full amount owed at the end of the forbearance and that there would be several options such as defferal, modification etc. We renewed the forbearance for 15 months and requested the final three months ( that according to the cares act we were entitled to ) and that last forebearance was denied. We received a notice that our forbearance was ending XX/XX/XXXX. We called and asked what our options were and PennyMac offered a modification. We filled out the paperwork for the mod on XX/XX/XXXX and were sent a notice on XX/XX/XXXX that we were denied the modification due to not completing our last modification. We call in XXXX and XXXX speaking with different people asking for another way to resume payments and come out of forbearance but were told there is nothing they could do. This was never mentioned in the first or any successive forbearance updates. In XX/XX/XXXX we received a notice of default and intent to accelerate demanding 22 months of payments equaling {$73000.00} by XX/XX/XXXX or risk foreclosure proceedings.
|
| 09/23/2022 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
|
|
Hi, I bought my home and borrow {$400000.00} from XXXX XXXX XXXX, loan number XXXX. Closing date XX/XX/2022 After I sold my old house, I paid {$350000.00} in XXXX and also paid XX/XX/XXXX due monthly payment of {$3700.00}. That went to principal {$2900.00}, escrow {$640.00} and only {$180.00} to interest due to XXXX payment made in XXXX.
XXXX XXXX XXXX then sold my loan to PennyMac and they did not send any payments I made to them to PennyMac. I tried calling both sides several times and no one wanted to do anything. Because of it, my XXXX payment to PennyMac had to bear the full interest of {$400000.00}. I called again and they add XXXX payment dated XX/XX/XXXX, so I still have to pay the interest of {$1500.00}, instead of {$180.00} I am stuck between 2 companies and it took me too much times, but as of now, I still lost more than {$2700.00} as a result of this transition. Attached are my XXXX monthly statement from XXXX told me I had {$47000.00} principal balance, while XXXX monthly statement from PennyMac told me I owe {$46000.00} AFTER I already made XXXX payment.
My calculation I should owe PennyMac XXXX now, not {$46000.00} And my lost is {$2700.00}
|
| 10/26/2022 |
Yes |
- Debt collection
- I do not know
|
- Attempts to collect debt not owed
- Debt is not yours
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|
Web |
|
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XXXX XXXXo XXXX XXXX XXXX and PennyMac re Home Insurance payment for for XXXX XXXX XXXX, by Check no. XXXX, reference number XXXX.
In XX/XX/2022 I submitted payment for my property home insurance to XXXX XXXX which was later returned back because the payment was made by XXXX XXXX XXXX, who is not a mortgagee under this insurance.
Please explain why XXXX XXXX made this payment for my home insurance to XXXX XXXX if another company claims to be a Servicer and mortgagee.
Please identify my creditor and its individual employee who authorized XXXX XXXX to make payment for my home insurance. Please provide this employees position with my Creditor ( it is a bookkeeper or an accountant? ) and full contact information for this employee, business address, phone number and email.
Please identify XXXX XXXX individual employee who received this request from my Creditor to make payment to XXXX XXXX.
Please explain why XXXX XXXX made payment from account which has routing number XXXX XXXX XXXX ; while I was instructed to forward XXXX XXXX to alleged servicer and mortgagee PennyMac to XXXX XXXX XXXX with routing number XXXX?
Please verify ownership of both accounts.
|
| 01/08/2020 |
Yes |
|
- Trouble during payment process
|
|
Web |
Servicemember |
|
XX/XX/XXXX my husband and I received a call stating that we were late on our XXXX and XXXX mortgage payments. When I talked to a representative for the company they stated that since my husband had just completed his bankruptcy that we had to wait so that they could confirm all of the information and they would call us to let us know. However, before his bankruptcy was discharged on XX/XX/XXXX we had and have been on time with our mortgage for the last six months and I offered all of the confirmation numbers as well as all of the documentation from the bankruptcy courts stating that we owed our mortgage company {$0.00} however this month we received another phone call with the same statement and I have been transferred and hung up on with no help no solutions and no return calls. We are now at XXXX and they are stating that we are still behind when our XXXX payment was completed on XXXX. So I would like to file a complaint that they are trying to make us pay a payment that we do not owe as well as they will not allow us to talk to any department outside of collections. Pennymac is a HORRIBLE mortgage company and they have no clue what customer service is.
|
| 01/15/2018 |
Yes |
|
- Problem with a credit reporting company's investigation into an existing problem
- Difficulty submitting a dispute or getting information about a dispute over the phone
|
|
Web |
|
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-XXXX XXXX hired an attorney to handle family chapter XXXX bankruptcy -At that time we hired and instructed our attorney XXXX XXXX to reaffirm our loan with our mortgage.
-XX/XX/XXXXBankruptcy Court in Colorado finalizes bankruptcy -We continued to receive monthly mortgage statements from PennyMac which we have been making. The statements indicated that the payments were going more to interest than principal.
-In late XXXX purchased family truck and credit report pulled that our mortgage was a closed account.
-XX/XX/XXXX Inquired to PennyMac to be connected with the right people to find out why it stated closed account and did not get an answer.
-Attempted to make contact again a week later with no results.
-Spoke with attorney, attorney sent additional paperwork to PennyMac regarding BK. PennyMac then said that they never received it.
-PennyMac never sent me, as the customer, any paperwork stating that the loan was reaffirmed or that more money would go to the interest than principal.
-As of the last date, issue was still unresolved and have not been able to speak with anybody regarding this.
-As of current still making monthly mortgage payments.
|
| 09/02/2020 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Applying for a mortgage or refinancing an existing mortgage
|
|
Web |
|
|
I initiated a Refinancing Transaction with PennyMac Loan Services , LLC on XX/XX/2020, to refinance my current mortgage with them.
An appraisal report was performed on my house and PennyMac told me that they will not move forward with my application because the appraisal report shows that my front steps need repair. This is the reason why I am going through the refinance so that I can have some funds to repair my front steps.
This was not disclosed to me upfront by PennyMac that they will not move forward with my refinancing when I contacted them on this refinance transaction.
Therefore, I withdrew my application and moved forward with another Mortgage Company.
I have been requesting from PennyMac for 2 weeks now the XML file of the Appraisal Report, a copy of the invoice, and a copy of the Paid Receipt which I paid for using my VISA Card.
The Mortgage Loan Originator from PennyMac Loan Services , LLC NMLS : XXXX who I have been requesting this information is XXXX XXXX, XXXX XXXX XXXX XXXX, XXXX XXXX, and XXXX XXXX, XXXX, CA XXXX. His Direct Line is XXXX XXXX XXXX XXXX and his email address is XXXX. Branch NMLS # XXXX and Corporate NMLS # XXXX
|
| 09/05/2019 |
Yes |
|
- Trouble during payment process
|
|
Web |
|
|
In XX/XX/XXXX, my mortgage was sold to PennyMac from XXXX XXXX XXXX. Prior to being sold, XXXX had us on biweekly payments that we paid close to {$1100.00} every 2 weeks. Because there is typically a 3rd payment week in a 5 week month, that payment was used by XXXX to put directly towards principal payments. We were unaware of that, however PennyMac worked with us to work with XXXX to have all of the payments credited properly to where we were not considered missing a payment for XX/XX/XXXX when our loan was transferred.
However, while we were in that months long discussion and changes from XX/XX/XXXX until XX/XX/XXXX, we were making payments under the assumption that we would be caught up once the discussions and decisions were made. As of XX/XX/XXXX, once the account was recredited properly, we only owed {$530.00}. We made that payment on XX/XX/XXXX. We were under the impression that once we caught up, we would be able to sign up for automatic payments but for some reason, our account has a flag on it as that we are more than 30 days late however the account was credited incorrectly in the first place, therefore we are unable to sign up for autopay.
|
| 02/01/2021 |
Yes |
|
- Applying for a mortgage or refinancing an existing mortgage
|
|
Web |
Servicemember |
|
My wife and I wanted to refinance our mortgage and we contacted PennyMac to begin the process. We received our lower interest rate and understood that we will have a XXXX cash to close and about {$700.00} off of our monthly mortgage payment. Then, for some reason, the day before we were scheduled to close, we received a call saying that they changed the numbers of our closing to make it a {$800.00} cash to close and our monthly mortgage payment went up about {$100.00}. Then we had to start over again with setting up all of the numbers for our refinance and we got another statement saying that we will have a second attempt to close with a XXXX cash to close. Then, for a second time, the morning of the closing, I received a call from PennyMac saying that they changed the numbers again and we would have an {$800.00} cash to close and our monthly mortgage payment went up again. I would like to know why our original refinance had our new monthly mortgage payment around {$1200.00} a month and we ended up paying {$1400.00} a month after having the numbers changed twice within 2 weeks so we didn't get the original {$1200.00} a month payment that we were told.
|
| 06/04/2022 |
Yes |
|
- Trouble during payment process
|
|
Web |
Older American, Servicemember |
|
We have been paying our mortgage a month in advance since XX/XX/XXXX. Received a letter from PennyMac, dated XXXX XXXX, XXXX, stating they would no longer accept our mortgage payment from our credit union and will not be sending ebill statements to our credit union. Our options, through PennyMac are to mail a check or money order, XXXX XXXXXXXX XXXX XXXX, OR BETTER YET, set up auto pay through THEIR website. We do NOT allow anyone to automatically WITHDRAW from our bank account! Mail system sucks here in XXXX and we have found another bank was sitting on our vehicle payments and not posting in a timely manner. We now drive to the bank and personally make the payments to end this process. We have been harassed by phone calls from Penny Mac to the extent that we have blocked their phone calls. Now we are getting harassed via emails on our phone. For example I have received 9 emails from XXXX XXXX XXXX this week alone. Our complaint is why this company DOES NOT comply as other companies do! It does not cost them to send ebills and receive payments ( with the proper acct information ) to/from our financial institution. This is a government backed loan.
|
| 02/26/2020 |
Yes |
|
- Trouble during payment process
|
|
Web |
Servicemember |
|
The PennyMacUSA mortgage company website has an online payment free login service. For months I have tried ( as have other customers ), to login and make an online payment. Every time I get to the point where I have ALREADY past verification codes, and security checks have been 'cleared ', the screen stays stuck at the 'successfully login screen '. The Green Check mark indicates login successful. Nothing changes. I can not access the 'Make a Payment ' screen and if you click on the menus up on the top, it 'kicks you out ' only to return you back onto the login screen. Nothing on the websites Home Page indicates one needs XXXX, XXXX, etc. My browser does have XXXX XXXX enable, no firewall or virus protection programs to block access. Even my security on my browser is minimal. I believe the company purposely does this in order to have customers use the 'Automated Phone Payment System ' which charges 'convenience fees '. Also if payment is made via Customer Service the fee also applies. The company is trying to make more money by having the NON - FEE payment method unavailable to its customers, especially at critical 'XX/XX/XXXX of the month ' period.
|
| 12/02/2016 |
Yes |
- Mortgage
- Conventional fixed mortgage
|
- Loan servicing, payments, escrow account
|
|
Web |
|
|
I have repeatedly requested removal of the private mortgage insurance from my home mortgage with Pennymac. They sent me written requirements allowing me to remove PMI based on current property values. However, when requested they refuse to even evaluate this request because I have not paid down 30 % of the original purchase price of my home, despite the home value having dramatically increased. They claim such requirements are XXXX guidelines and they are not allowed to even order an appraisal until I have paid 30 % down of the original purchase price.. I looked at fannie mae 's website under the servicing guide in regards to " Borrower Initiated Termination of Conventional Mortgage based on Current Property Value '' which allows me to request removal of PMI and for an appraisal to be ordered. '' They never disclosed these requirements to me at the time of closing and have no evidence that I ever was made aware or agreed to such terms. They have given me the run around for a couple months and continue to not show me anywhere in writing where this is required. Instead, I continue to pay mortgage insurance each month, and have been for last 5 years.
|
| 06/23/2017 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
|
|
I received my XXXX 2017 mortgage statement and it stated i had missed my XXXX 2017 payment. i checked my online banking record and the payment was marked as paid on XXXX XXXX 2017. I called my mortgage company and i was told to send proof. I sent the copy of the on line banking check and a copy of my bank statement verifying the funds where paid out to the Penny Mac Mortgage company on XXXX XXXX 2017.. I received a call 3 days later and was told that there was no " stamp '' on the back of the cashed check that could prove that they deposited it in there XXXX XXXX XXXX account. I was told that i must pay or my credit would suffer. i asked if they could at least try to find the deposit into there XXXX XXXX XXXXXXXX account and i was told no. Now my credit is being marked derogatory and i must pay my mortgage payment again. I was just hoping someone could help me convince Penny Mac to start an investigation into where the payment was cashed to. Even though i gave them all the proof from my bank that it was cashed they said they could n't of received it because they would have had to have stamped the back as " for deposit to XXXX XXXX XXXXXXXX ''.
|
| 05/17/2023 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Struggling to pay mortgage
|
|
Web |
|
|
PennyMac evidently will hire anyone off the street if they can recall the alphabet. That said, I have been chasing them for a week to update my home insurance policy so that they can do an escrow analysis and correct the monthly mortgage payment.
It doesn't matter if you call or send a message through the portal, the response you get is from some maladjusted incompetent employee who absolutely FAILS to read your message then sends you some idiotic auto template that has nothing to do with the request.
I am sick of PennyMac in general as are most of their customer base, but, If this is not straightened out within 30 days I will get another outrageous mortgage payment bill that will be incorrect simply because they don't know how to do their job.
The issue : my homeowners insurance increased The solution : I bound a new policy with a better rate PennyMac 's Insurance Dept are incompetent. The only thing that they need to do is update and do a new escrow analysis.
I am sick and tired of bouncing back and forth with their incompetent reps and need this resolved. I have requested a manager to respond THREE TIMES and this is being ignored.
|
| 11/15/2018 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
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|
Last XXXX we had some extra money after taxes, so we decided to send it to the mortgage company to apply towards our principle. Our payment each month is automatically drafted, and never have we missed a payment. On XX/XX/XXXX I noticed that my payments were not being drafted as usual, so I called the company. They couldn't tell me why the auto draft wasn't working, but at that time he told me that I was paid up until XX/XX/XXXX. They had taken my payment of {$5100.00} I sent extra in XX/XX/XXXX and reversed it the next day and applied it towards monthly payments instead. This didn't reduce my principle like it should have and I continued to pay interest on a higher balance. The customer service person said they would fix it and I see there have been many adjustments to my account, but not in my favor. Currently they say I owe exactly the same principle balance that I did last XX/XX/XXXX that I do now. I have paid a total of {$16000.00} over the past 7 months, and over {$6200.00} was extra principle payments above my mortgage payment. If PennyMac is doing this to my account, I can only imagine how many other accounts they are doing this to.
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| 08/30/2018 |
Yes |
- Mortgage
- Conventional home mortgage
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- Struggling to pay mortgage
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Web |
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Last XX/XX/2017 hurricane Irma hit Florida and the entire state was declared a disaster. A mortgage forebearance program was offered in which allowed you to not make your monthly mortgage payments and to my understanding the accrued payments and interest would simply be added on to the mortgage at the end of the forebearance period then I would resume making my monthly payments of XXXX. However PennyMac wanted a lump sum payment for all of it. What possible help would this program be to anyone? PennyMac then began foreclosure proceedings and informed me that I was responsible for all the charges involved with this if I wanted to keep my house. I negotiated a payment with them for around {$4500.00} to avoid them taking my house. I made a payment to them now starting in XXXX for my normal payment of {$360.00} hoping to continue with my normal monthly payments for the 26 years left on the note. PennyMac loan services called me Monday night and said I qualified for the modification program and my new payment would be {$330.00} but now mine would be a 40 mortgage loan. I am a XXXX XXXX and both these instances see like predatory lending to me.
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| 08/16/2022 |
Yes |
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- Trouble during payment process
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|
Web |
Servicemember |
|
On XX/XX/XXXX I was approved for HAF with XXXX months of forward payments. From XX/XX/XXXX through today and going forward I have been reaching out to XXXX and PennyMac to see if funds have been paid. On XX/XX/XXXX, XX/XX/XXXX, XXXX, XXXX, XXXX, and XXXX, I emailed XXXX and to date, none of those emails have been responded to. I've sent PennyMac my award letter on XXXX and on XX/XX/XXXX, I received a response saying that to date they have not received any funds from HAF or XXXX and that if payment is not received by the XXXX day of XXXX, a late fee will be added to my account. In order to avoid late fees and negative reports on my credit, I made the payment on XX/XX/XXXX. On the morning of XX/XX/XXXX, I called HAF customer service who advised me that a paper check was sent out on XXXX to all services I was approved for On XX/XX/XXXX, I called PennyMac and spoke to a woman in the HAFXXXX loss mitigation department who told me that as of XX/XX/XXXX they have received no correspondence or payment from HAF or XXXX XXXX As of today, XX/XX/XXXX, all other approved utilities has been paid by HAF and my mortgage is the only thing left unpaid.
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| 02/07/2020 |
Yes |
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
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I have an FHA insured mortgage. The loan is currently being serviced by PennyMac. I have an impound account with the loan in which MIP is paid monthly along with principle, interest, taxes and insurance. I am trying to refinance that loan into a conventional mortgage with a local credit union. In the payoff demand statement dated XX/XX/2020 PennyMac is asking for a Pro Rata MIP of {$1000.00}. After I complained to them and my new prospective lender they responded to a new demand letter with a reduced amount for this item. I don't think that any " Pro Rata MIP '' is valid. If it were valid why did they reduce the amount when I complained? They also sent me a partial refund of my impound account without having paid the second installment of my property taxes. Aren't they obligated to pay these taxes when they are due if they are collecting money monthly for this purpose? I feel that this refund is a distraction in order to overcharge me on the loan payoff and possibly even keep the remaining balance that is in the impound account. My mortgage refinancing is being held hostage and I am appealing for your assistance in resolving this matter.
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| 01/17/2018 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
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- Problem with a credit reporting company's investigation into an existing problem
- Problem with personal statement of dispute
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Web |
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In XXXX XXXX I bought a house and made a mortgage agreement with XXXX XXXX XXXX Ever since I made a recurring payment instruction to my XXXX XXXX XXXX against the monthly mortgage amount. The payment was done smoothly every month with no problem. In XX/XX/XXXX The loan has been transferred from XXXX XXXX XXXX to XXXX XXXX. They advised us while we were on our vacation overseas. Our monthly payment continued to go to XXXX XXXX XXXX which they supposed to transfered back to PennyMac during the transition period. XXXX XXXX XXXX already did that but XXXX did not reconcile the account immediately and took some time to do so. When we got notified with the problem on our return, we made extra payment and sorted the problem. We have asked PennyMac to draw their complain about late payment from our side. We have proven to them that money has been transferred from our bank in regular base and it is not our problem. PennyMac agreed and supposed to fix their claim against late payment from our side. Apparently PennyMac did not withdraw the complain from their side. hence the credit report has been negatively affected without any legitimate cause.
|
| 07/16/2015 |
Yes |
- Mortgage
- Conventional fixed mortgage
|
- Loan servicing, payments, escrow account
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Web |
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I am at the end of my loan where my payoff is less than 1/2 of a normal monthly payment. But the mortgage company will not take any payment except wire transfers, cashiers check, or title checks. If I do not make my payment by the late fee date, they are threatening to charge me an excessive late fee ( 15 % of my payoff amount ) while refusing to accept any normal payment method ( ACH/Pay-by-phone, mailed check ) even though they are already holding more funds in my escrow account then the full payment on the loan. This forced me to go to my bank and pay wire fees to avoid the excessive late fees. Also, upon payoff, the bank charged me recording fees and a release fee. These unavoidable fees plus the cost of obtaining secure payment for the final payment are not disclosed anywhere in my contract. Since they are unavoidable costs of the loan, they should have been included in the cost of the loan and APR calculation in conformity with the Truth-in-Lending Act ( TILA ). Plus, forcing the consumer to wire funds that are for a minimal amount and charging a late fee in excess of what is specified in the contract are unfair and abusive acts.
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| 12/07/2022 |
Yes |
|
- Struggling to pay mortgage
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Web |
Servicemember |
|
I lost my job at the beginning of COVID about 2 years after the death of my wife and the birth of my XXXX boys. I have a VA loan so it's federally guaranteed, and any missed payments were supposed to be tacked on to the end of the loan. Well every time I tried to get the loan out of forbearance they would send me paperwork that has my wifes name on it, I sent them the death certificate in XXXX of 2020 in my first attempt to get out of forbearance. They still to this day have not produced documents that do not have my wifes name on them so they sent a notary out to my house on two separate occasions who was supposed to view the death certificate and note that she was deceased and all would be good. Both times it was denied by the underwriting department. Now they have changed from the forbearance deal where missed payments get put on the end of the loan to a 7.5 % ARM from my 5 % VA because I " didnt get it done in time ''.
They just sent me another set of paperwork, again with my wifes name on it, so they want me to do this rodeo yet again. And every time I do it it causes more and more problems with the loan servicer, Penny Mac.
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| 09/15/2021 |
Yes |
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- Struggling to pay mortgage
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|
Web |
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I havent paid mortgage since beginning of COVID-19. I just want to make sure there is some help for homeowners because it will be a yr almost and Im still behind trying to stay afloat Im on permanent XXXX and all the extra stuff I been buying trying not to caught it put me behind plus now my car is broke Im tryptophan get it fixed I have a lot of meds and doctors appointments. I also saw were there was help for your animals well I have 10 cats that I take to vet and feed to keep me company I had before this pandemic hit they do not go outside but do have to here meds one had a XXXX one can not XXXX and the others I raised from tiny kittens because mothers left them my name is XXXX XXXX my address is XXXX XXXX XXXX TN XXXX, USA and my number is ( XXXX ) XXXX please give me a call about my home my cats my utilities my car and living situation! I stay by myself and I worked from age 14 until young man ran light flipped my car three times XXXX XXXX XXXX and etc. I been here since 1998 in this house grew to children up here and dont want to leave thanks and have a Blessed day. And Im trying to do this on a once a month XXXX check XXXX
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| 09/02/2015 |
Yes |
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- Loan servicing, payments, escrow account
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|
Web |
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My mortgage was purchased from XXXX by PennyMacUSA at the end of XXXX 2015. I 've called support, emailed support, filed a better business bureau complaint, and I can not get PennyMac to assist me with online account access to view my mortgage information. When I called support, the support representatives have told me that the website does not work and that they get a lot of complaints, but that there 's nothing that is currently being done and no way to assist in providing me with online account access. I request an account reset from the website and never receive an email to reset my login which is not working and I also never received a response to my complaint I logged via the website. It 's not fair to me as a consumer for my loan to be purchased from a company that provided me online account access and responses to my inquiries to PennyMacUSA which does n't meet a basic standard level of service and support.
There are many complaints all over the web with other consumers faced with this same situation - PennyMacUSA bought our mortgage loans and has failed to provide a basic level of service of the previous mortgage lender.
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| 05/10/2019 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Struggling to pay mortgage
|
|
Web |
|
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I have been trying to postpone my sale date with PennyMac. First I was told my file was complete, then I was told it wasn't. Every time I tried to fax them something, it would take hours for the fax to go through, and I finally had to get their foreclosing attorney 's help in getting the package to them. I have complied with everything, but they continue to move the goal post, and I can not afford to reinstate. My hardship was that my fiance` and I parted ways, causing a disruption in my finances, a loss of income. I made the necessary adjustments in my life before I applied for the loan modification, as I am not confident I can support the mortgage on my own. One representative will tell me one thing, another representative will tell me another. I am in a panic. I have sent them a complete file. I obtained a Quitclaim Deed, then they wanted proof of hardship. I said the fact that he's not longer in the home and the Deed should be evidence of my loss of income. I was then told to send a bill that was in his name, that had to be switched to my name thereafter. I did so, and was told that wasn't enough. Please help! I am desperate!
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| 10/03/2022 |
Yes |
|
- Struggling to pay mortgage
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|
Web |
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I am behind on my mortgage Payment and I plied for the Virginia Mortgage Relief. The whole process started around XXXX and both, PennyMac Financial Services and Virginia Mortgage Relief have not be able to communicate about my loan. I have suggested, for 4 months, for them to call each-other because their server communication is not working. When I call PennyMac they told that they email Virginia Mortgage Relief the B files sometimes on XXXX. When I called Virginia Mortgage Relief they said they have not received the file. But they have send several emails requesting the files, again. I called Penny Mac they said they have not received Virginia Mortgage Relief email. Every time I called they blaming each other and nobody is able to fix the problem. I have asked for a 3 ways call with both parties but PennyMac does not take third Party calls. It is clear that one of the company or both are having problems with their communication devices but nobody admitted. I am tired, I have call these companies more than 10 times. I need somebody help because they dont care what is happening with their server and the one not being help is me.
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| 12/28/2021 |
Yes |
|
- Applying for a mortgage or refinancing an existing mortgage
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|
Web |
Servicemember |
|
as of XX/XX/XXXX I was giving a new payment XXXX which I paid for a whole year no lates XXXX 4.5 % XXXX XXXX XX/XX/XXXX I applied for a forbearance plan due to the covid-19 0utbreak which they canceled and gave me modification of a XXXX which changed XXXX 3.25 % which is no savings at all, how does the payment go up from XXXX XXXX, after I proved to PennyMac i'm exempt of realestate tax and when I purchased this without my real estate exemption my payment was XXXX .And another thing on XXXX XXXX I decided to get me so new homeowners and auto insurance with statefarm and pay the premiums directly they wont change the payment on the loan which in fact im paying my own home policy presently I been trying to get my money back or get a new loan from someone else I believe the have been sabotaging my credit and has cause all my money problems I need to get aways from this company .Please help they are the worst mortgage company I ever delt with they constantly change your payment and charge us a late fees making it so bad you have to refinance for any relief... ..then hold up your process time so you cant refinance out from them ....
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| 05/17/2019 |
Yes |
|
- Trouble during payment process
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|
Web |
Servicemember |
|
I received a letter dated XX/XX/2019 that stated that there was an escrow shortage and that I needed to pay a shortage amount of {$2300.00} or my monthly payment would be raised to {$5600.00}. I immediately send a check for {$2500.00} with escrow written on the check along with the escrow coupon stating {$2500.00} deposit and made copies. I then logged into the mortgage account online to routinely check the status of my mortgage account and noticed that although I had paid the {$2500.00} to escrow my account had not been credited even though the check was cashed on XX/XX/2019. I called into the bank on XX/XX/2019 at approximately XXXX to question why my escrow payment was not credited and they made up a story about how it must have been an " oversight '' and that they would " try '' to fix it immediately. I was then told that it was escalated and that they would call me once it was fixed. PennyMac has defrauded me and are trying to raise my mortgage payment even though I quickly paid the escrow shortage. Who knows how many other people they have done this to in order to manipulate payments and cause financial harm to consumers.
|
| 10/17/2016 |
Yes |
- Mortgage
- Conventional fixed mortgage
|
- Application, originator, mortgage broker
|
|
Web |
|
|
I feel that I was a victim of discrimination. Around XXXX/XXXX/2014, I purchased a house and was financed by PennyMac ( XXXX. XXXX XXXX XXXX XXXX, CA XXXX ). My loan number is # XXXX. First reason why I feel I was discriminated, I feel because we are XXXX, PennyMac allowed its brokers to charge us higher fees for mortgage loans. Second reason is that I had clearly stated I was giving XXXX % of down payment to avoid paying a PMI ( Private Mortgage Insurance ) when I signed the closing documents, they had put XXXX % down payment. I called to tell I wanted to give XXXX % down and I was convinced by the broker to leave it at XXXX % telling me that my PMI would only be {$49.00} a month. I would like to ask if can start an investigation to see if other XXXX or XXXX customers were discriminated by PennyMac? This company should have recorded conversation when I called the agent to argue the amount of Down Payment. I think PennyMac only wanted to charge me the PMI of {$49.00} each month reason why they claimed they made the mistake of going with XXXX % down and convinced me to leave it like that. I am sure there is more victims like me.
|
| 01/24/2023 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
|
|
Hi, I took part in the covid relief program for 8 months. I was told that I would have repayment options available when my forbearance plan ended.
My forbearance plan end date is XX/XX/2023. I paid my mortgage payment in XXXX and called to set up auto payment only to find out I am required to pay my lump sum in full with NO repayment options available. If on the XXXX I am not able to pay the lump sum, they will start the foreclosure process.
The information provided and explained to me was portrayed in a way that I understood I would have repayment options. According to Penny mac, it is up to the insurer. I reviewed the covid relief program paperwork and it also portrays and states that a lump sum payment is not required if it is not possible at the time of the plan end date.
Penny mac and XXXXXXXX XXXX are looking into this but have yet to inform me of any findings. My concern is the XXXX will come, and I will be stuck and default on my loan, starting the forbearance process.
I am happy to help provide more documentation or discuss further. I am hoping this gets another look and reconsideration.
Thank you, XXXX XXXX
|
| 12/13/2019 |
Yes |
|
- Struggling to pay mortgage
|
|
Web |
|
|
I lost my job XX/XX/XXXX of 22yrs my mortgage was {$1000.00} monthly my mortgage increase to XXXX monthlyXX/XX/XXXX. I called my mortgage company in XX/XX/XXXX to talk about this HUGH INCREASE OF MY MORTGAGE. I was told that there is nonething I can do about the increase after the lost of my job in XX/XX/XXXX I had to paid my monthly mortgage of {$2000.00} and live off of my 401-K I had fallen behind in my mortgage XX/XX/XXXX. I called my mortgage company every month to discuss my finances I had no income coming in I was told I had to be at least 3 months behind before I could apply for a loan modification. I finally was able to apply for a loan modification in XX/XX/XXXX I was denied because of debt to income ratio I was advised to reach out to ( HUD ) non profit organizations I contact XXXX for help and couseling talked about finances got a buget put together they are my Representative for my modification I was turned down again for the exact same reason debt to income ratio the same reason as my first denial by my mortgage company ( PennyMac ) I was mailed out a denial letter before my Representative with XXXX contact them.
|
| 05/01/2023 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
Older American |
|
XX/XX/XXXX they raised my mortgage payment {$300.00} a month and claimed they needed it in my escrow account for increased home owners insurance and taxes but I followed up with calls to see who required that much more money and my home owners increased by about {$75.00} a month and even that increase is questionable because all my neighbors have only increased by about {$100.00} a year. There is no reason for this kind of increase even if the insurance is legit. I've contacted them at least 4 times and they tell me to contact my insurance company but just reaffirms my knowing they are taking way too much out for my escrow account. The amount they increased is way out of line and I sure could use a refund since my daughter and grandchildren are presently living with me. The only response they give is it can't be changed until XX/XX/XXXX because that is when they have there meeting for adjusting escrow accounts. With the economy tanking and this kind of unnecessary expense I've all but emptied one of my retirement accounts. Please give me some relief and justice. account # XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX
|
| 12/29/2020 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Struggling to pay mortgage
|
|
Web |
Older American |
|
I am retired and on a fixed income. I purchased my home in 2008. Turning XXXX in XXXX, my XXXX is lowered due to payment to XXXX. I also can not get a part-time job because of Covid. Knowing that this date was coming soon, I contacted five different mortgage agencies to refinance my conventional mortgage which included my current mortgage holder. All responded that a refi was not possible because of the income to debt ratio. I contacted my current mortgage holder to get a loan modification to lower the payment. Their final answer was no. " PM has a proprietary loan modification program to assist struggling homeowners with their mortgage payment. Unfortunately, we were unable to approve your modification request under this program. Reasons for the program denial include : Default Not Imminent. Other alternatives to foreclosure which may be available to you. If your mortgage payment is unaffordable and you are interested in transitioning to more affordable housing, you may be eligible for a short sale or deed-in-lieu of foreclosure. '' It also said ... '' Upon completion of either program, you may receive a cash incentive. ''
|
| 06/20/2017 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
|
|
I filed a complaint with CFPB in XXXX 2017. PennyMac Mortgage failed to pay my taxes. I called them on XXXX XXXX, 2017 and it took them almost 60 days to pay the bill. This is not the first time they have not paid my taxes. In a response letter from PennyMac they stated they would not charge my the late penalties the township had charged and they said they did not receive any tax bill to pay. 1. My township informed me they did send all tax notices out as normal. 2. On my XXXX statement I was charged for the penalties. I called XXXX XXXX XXXX who signed the letter and she never returned my call. The response letter also said that they would not honor removing the PMI because of the loan value. I know they can make exceptions and would like them to remove the PMI or adjust the account for the PMI to be applied to by principal balance. I can not understand how companies can enforce charges for their protection, but I am unable to enforce any to protect myself. Lastly, The response letter I received had an apology line for my frustration, but it was crossed out in red ink. Another example of unprofessionalism with this company.
|
| 05/11/2023 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
|
|
A blackwater flood damaged my home in XXXX of 2021, after 17 months of battling with XXXX insurance, a settlement was reached through the appraisal process at XXXX 's request. A check for the repair settlement was written to my mortgage company, PennyMac.
I live and work XXXX hours away from the damaged property and have very little availability to travel to the company for a digital or physical inspection. PennyMac has issued less than half of the settlement funds to me and continues to cancel the scheduled inspections through their automated system. The inspection has been canceled three times. I am the acting XXXX for repairs and can not proceed unless PennyMac releases additional funds. Documentation of the expenses has been submitted.
Repairs on the property can not proceed until additional funds are released. Additional funds can not be released until an inspection is conducted. Requests for an inspection have been continually cancelled by PennyMac. I can not reclaim $ XXXX of depreciation from XXXX unless repairs are completed withing the next 4.5 months. I can not reclaim depreciation until funds are released.
|
| 08/03/2022 |
Yes |
|
- Struggling to pay mortgage
|
|
Web |
|
|
I went on Forbearence starting XXXX of last yr. My mother and stepfather co-signed. I am permenantly XXXX and low income. She was giving me money/mo to help and then couldn't. They then both passed away on XX/XX/XXXX. I found a lower ins co and resumed paying the loan in XXXX of this year. I started getting late fees in XX/XX/XXXX. The late fees were reversed. Soon after, I noticed that none of my payments were being applied to the loan. {$7900.00} in total. I sent ( message center, TX, CA ) 2x to payment center, the payment hx from my bank and asked that this be corrected. I can never get anyone to help me. Today on loan activity I see charges for a foreclosure lawyer, title, and also property inspection along with late fees. According to the Care Act, this should not be happening. Please help me. Obviously PennyMac could care less in helping me keep my home. They would rather seize it then correct this catastrophy of an error. And where did all that money go if not on my account? The loan is in good standing as I have given proof to all PennyMac headco. And yet they are still continuing with the foreclosure of my house.
|
| 05/11/2018 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
|
- Incorrect information on your report
- Account status incorrect
|
|
Web |
Servicemember |
|
I had a mortgage with XXXX XXXX XXXX and filed bankruptcy XX/XX/XXXX and wanted to reaffirm my mortgage. They refused to sign the reaffirmation agreement after asking for an extension for them to sign the papers. A filed the papers with the court and was given a deficiency filing status under chapter XXXX and it was denied under chapter XXXX prior to converting.
The mortgage showed as closed on my credit report and I was advised through legal assistance that I was no longer responsible for the loan. I attempted to get them to work with me but they refused demanding all the money, they transferred my loan to Pennymac Loan Services sometime in XX/XX/XXXX and they initially did not want to work with me either.
I was able to supplement income and applied for a trial modification that was eventually approved and it became final in XX/XX/XXXX. 2 weeks ago I check my credit report and see that XXXX XXXX XXXX is still listed as closed on one credit report and has been removed from the other report. Pennymac is now being listed as open mortgage account with current payments and 8 missed payments, after showing being closed.
|
| 07/23/2021 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Applying for a mortgage or refinancing an existing mortgage
|
|
Web |
Older American, Servicemember |
|
On XX/XX/2021 I received a call from Penny Mac Loan Services in Arizona. With a lot of pressure from the salesman, XXXX XXXX, I agreed to apply with the condition that the application could be cancelled at any time. He told me the loan would be at 3.1 % interest rate. He told me that I needed to give them {$650.00} for an appraisal with a credit card over the phone. I did over the phone. He also had me apply by way of computer. When on the phone I did check the Nationwide Multistate Licensing System/Nationwide Mortgage Licensing System and Registry. He was listed. After a couple of hours and checking some reviews I became alarmed and decided to E Mail my cancellation and withdrawal of my application. They refuse to cancel my application and refund my {$650.00}. I contacted the appraiser they had hired and cancelled the appraisal. The appraiser assured me that they had not and would not charge any thing as I had cancelled their visit. XXXX XXXX, XXXX XXXX 's supervisor at Penny Mac said they would credit my card {$650.00} by end of business XX/XX/XXXX, he has not. I want {$650.00} credited to my credit card immediately.
|
| 08/30/2021 |
Yes |
- Debt collection
- Mortgage debt
|
- Attempts to collect debt not owed
- Debt is not yours
|
|
Web |
|
|
Qualified Written Request and Complaint against PennyMac Loan Servicing, LLC and XXXX XXXX XXXX XXXX, as a Paying Agent for some XXXX XXXX XXXX XXXX.
On XX/XX/2021 some Third Party Payment Processing Services ( who lacks any corporate identity or contact information ) submitted {$1000.00} payment via XXXX XXXX ACH for my home insurance policy from someones home on behalf of some Mortgage Company who lacked any banking information and reference number to this transaction.
According to Financials prepared by XXXX XXXX XXXX XXXX, my home insurance due was {$600.00}.
Please provide me the full corporate name and contact information for Third Party Payment Processing Services ; and which relationship it has to PennyMac and XXXX XXXX XXXX XXXX ( who is accepting my payments money from PennyMac, thus is responsible for all outgoing payments related to my escrow account ).
Please explain how amount {$1000.00} was calculated if the due is {$600.00}.
Please provide me the name and contact information for XXXX XXXX XXXX XXXX and PennyMacs accountants who authorized this payment.
Please provide a receipt for this payment.
|
| 03/11/2016 |
Yes |
- Mortgage
- Conventional fixed mortgage
|
- Settlement process and costs
|
|
Web |
|
|
More than 365 days and ongoing, I have submitted legal documents to have my name changed on my PennyMac mortgage loan. I have mailed, faxed, and scanned via their secure portal my judge signed name change, copy of my state license reflecting the name, and a copy of my homeowners 's insurance showing that my name was legally changed in XX/XX/XXXX. In addition, I recently received a modification in XXXX where the documents I had notarized where in the last name XXXX, therefore, my problem is with settlement documentation. This request is important to ensure I am able to stay aware of my credit report for incorrect data and avoid fraud at all cost. I have been a victim several years ago of fraud and would like to avoid any and all opportunities for it to occur again. I am extremely confused because the receive and pay the policy which is submitted by XXXX under the last name XXXX. I would really like your assistance with having my information corrected. In addition, this service provider has sent correspondence to my address for their other customers. This is very scary for someone that should protect your information.
|
| 04/02/2021 |
Yes |
|
|
|
Web |
Servicemember |
|
We spoke with PennyMac in XX/XX/XXXX to let them know we were interested in refinancing our mortgage loan. PennyMac scheduled an appointment for us to close on XX/XX/XXXX. However, the notary never showed up, but called us to let us know that PennyMac never forwarded them the necessary documents. We contacted XXXX XXXX XXXX XXXX tge PennyMac loan officer to let him know. He rescheduled a new closing date to XX/XX/XXXX. We signed all of the necessary documents on XX/XX/XXXX. On XX/XX/XXXX, XXXX XXXX, the called us to confirm that all was good. On XX/XX/XXXX, XXXX XXXX contacted us to let us know we needed a new payoff letter thru XXXX from XXXX XXXX XXXX XXXX and that we needed to sign new documents. He scheduled a new closing date to XX/XX/XXXX. Here it is XX/XX/XXXX and no notary showed up and no phone call from XXXX XXXX. We called XXXX XXXX again, but he has no answer for us as to why the notary did not show or why they dropped the ball on us again. We also contacted PennyMac 's 800 number on XX/XX/XXXX, but no one seems to be able to provide any answers for us nor want to resolve the issue we keep having.
|
| 01/31/2023 |
Yes |
|
- Trouble during payment process
|
|
Web |
Servicemember |
|
I just received a XXXX A in the mail from PennyMac loan services. I guess they are saying i abandoned my home which is a lie. I'm currently living in my home with my family. my house has been paid off since XXXX. PennyMac was the servicer never did PennyMac loan me anything nor can they prove it. I've begged them to produce the so-called contract they have failed to provide me with this alleged contract. I don't exactly know what this XXXX a is but it seems like they are saying that they are forgiving some fake debt that doesn't exist and saying i have abandoned my property creating some kind of tax liability on me. first, they never loaned me anything second i am and will remain living in my home. 3rd my house was pained off in XXXX. PennyMac is doing some shady stuff that needs to be immediately investigated. i have an unrebutted affidavit of their fraud and attempted theft and i can and will testify under oath and have first-hand knowledge to the facts of their criminal actions.
XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXXXXXX
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| 01/19/2016 |
Yes |
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- Loan servicing, payments, escrow account
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|
Web |
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I am interested in making weekly mortgage payments in order to decrease the length of my mortgage loan and reduce the amount of interest that I will pay over the term of my loan. I contacted my mortgage company and was told that they only have a bi-weekly program available and that they discourage clients from paying outside of the normal monthly payment schedule, as these payments are customarily held and not applied properly to the clients accounts. I should be able to choose the manner in which I make my mortgage payments as long as by the XXXX of the month, the entire mortgage payment is received by the lending institution. Also, it is quite disturbing to be told that they discourage this practice and that they are aware of the mishandling of the monies that are paid outside of the customary monthly payment schedule. Obviously, the lending institutions would prefer to have all clients pay only once monthly so that they can collect the full amount of interest that would be owed on the loan, but consumers should be giving the option of making payments on a different schedule, that may better suit them.
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| 07/29/2021 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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I have been sending two payment monthly to my mortgage loan servicer ; one for the monthly payment amount and one for an additional principle payment. In each of the past three months of XXXX, XXXX and XXXX the additional principle payment was processed and posted as if it were a regular monthly payment. I have called each of those months and pointed out the error and asked for them to note my file so that the error would not happen again. In both XXXX and XXXX the error was corrected and I was assured that it would not happen again. I called yesterday and was told that it was my fault and that I should pay online if I wanted the payments applied correctly. This is directly opposite of what I was told previously. When I asked for a supervisor I was parked on hold and never retrieved. My Calls were made on XX/XX/XXXX and XX/XX/XXXX and those payments were reversed, then correctly posted. I should not have to call every month to push PennyMac to apply the payments properly. I have never had this issue with any other lender and it appears that they do not have any intentions to correctly post my payments.
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| 07/29/2017 |
Yes |
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- Trouble during payment process
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Web |
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In XXXX of 2017 I called PennyMac to request that all overpayments sent by electronic check be applied to principle rather than advancing the payment due date. The representative agreed and said the changes were made at that time. When my XX/XX/XXXX payment was applied to my account at PennyMac, they erroneously applied 100 % of the payment to principle instead of distributing it to principle, interest and escrow. I messaged them online and they promptly corrected the error. I was told the problem that caused the error was fixed. When my XXXX 2017 payment was applied, again 100 % of the payment was applied to principle. On X/XX/17 I messaged them to correct the error. They assured me the error would be fixed. When I checked on X/XX/17 the error had not yet been fixed and there was now {$30.00} late fee applied to the account dated X/XX/17. Again I messaged them online insisting the error be rectified. As of X/XX/17 the XX/XX/XXXX payment has now been re-applied properly ( to P & I and escrow ) to the account, but the late payment fee, which resulted because of PennyMac 's error, has not been reversed.
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| 06/26/2020 |
Yes |
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- Trouble during payment process
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Web |
Servicemember |
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The mortgage company Penny Mac, adjusted the payment higher due to change in escrow, with out notifying me. They stated they had in XX/XX/2020. I never received a notice .This is the second time they have done this to us. We refinanced with this company to lower interest and length of the mortgage. We have never had a problem like this till we worked with this company.
On XX/XX/2020 we received are statement for and it was little over double the monthly due amount in XXXX.
My wife called on XX/XX/XXXX to inquire about this, and was told we did not pay last months bill for XXXX, I had paid through my banks online pay service and was received XX/XX/2020.
My wife called to inquire about the bill. She was informed they had set in a suspense account. We owed a difference of {$60.00} for the escrow adjustment -which I have no issue paying. A XXXX late fee and for try to correct this with a online customer service rep a {$6.00} fee. They never made a attempt to correct this by reaching out to an notifying of the payment being short {$60.00}.
Instead they collected interest for a month an late fee.
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| 06/12/2023 |
Yes |
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- Trouble during payment process
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Web |
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I was on the forbearance plan until I believe XXXX or XXXX XXXX. I had been checking in every month online. I called for a total owed to know how much I owed in XX/XX/XXXX, I was then informed they were going to foreclose on me from lack of communication? They said they did not want my house if I could start paying again. Then weeks later they served me with papers. They then said they would stop the foreclosure and add My about {$30000.00} to a second mortgage that would not have to be paid back until the first was paid or I sold the house. Now last month XX/XX/XXXX my whole payment went to suspense plus a late charge. I called and they said they were removing the late charge, but my credit shows a 30 day late status and dropped my score XXXX points. This is nuts. When I started repaying my loan my payment was around {$1700.00}, so I payed {$2000.00} or {$2500.00} for a few months to pay down my principal. This was not applied to principal. I just need someone who defends people with fha loans to see what is really going on. It is not what they tell me after hours on the phone.
thanks XXXX
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| 02/02/2021 |
Yes |
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- Trouble during payment process
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Web |
Servicemember |
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We were offered the covid relief to suspend payments for a certain time during XX/XX/2020. We did 3 months then wanted to start making payments again but was told we would have to do some type of modification called " trial payments '' to see if we could afford the mortgage. We never heard of this and never said we couldn't afford the payments. The trial payments was sent but they keep putting them in a suspense account ( to make interest off our money ) and not apply them to our account. Then when I called more than once I was given scripted speech. I have written letters to them to ask why these payments are not being applied with no response. I also had an overage in my escrow which they said I could not get because the account is delinquent. The account would be current if they would apply the payments that have been sent to them. Then the 2020 XXXX XXXX XXXX which I had to access on their website is also incorrect because the money they have in the suspense account hasn't been applied for the 2020 year. I just need this account to be brought current and all the shady business to stop.
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| 05/20/2020 |
Yes |
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- Incorrect information on your report
- Account status incorrect
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Web |
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I am writing to officially file a grievance against PennyMac. Because of the COVID-19 pandemic, my employment was impacted. I contacted PennyMac for assistance and was advised of a forbearance plan. My mortgage was due for the month of XXXX, however I was told that because of the forbearance planI did not need to make a payment. The representative suggested that the forbearance would block any negative credit reporting to each of the credit reporting agencies. Additionally, I received the attached letter from PennyMac confirming that while on the forbearance plan, my account would be reported as current. Please see attached letter.
Upon receipt of my XXXX credit report, I discovered that my account was reported 30 days delinquent for XXXX and XX/XX/2020. Please review attached.
I contacted PennyMac on XX/XX/2020 and the representative reviewed the communication referenced above and she could not provide an answer as to why the account was reported delinquent. The representative suggested that she would send an internal complaint that would be reviewed by various internal individuals.
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| 02/01/2021 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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Hello, This complaint is about PennyMac Loan Services for a mortgage loan that I had in the XXXX timeframe. An escrow account was set up at the beginning of the loan to pay property taxes and insurance, and this was funded as normal through my monthly loan payments. In XX/XX/2019 PennyMac stated that a {$2600.00} payment was made from this account to pay my XXXX County, Missouri XX/XX/XXXX property taxes, however a year later I found out that no payment was made and I had a year of delinquent property taxes. I reached out to XXXX County, Mo and spoke to their treasury department and confirmed that no payment was made to my account, and then reached out to PennyMac through multiple means. Apparently there is no way to contact the department that pays property taxes through escrow accounts other than their online message feature on their web site. I started this process two months ago, and haven't been able to get anywhere with this company. I just want my {$2700.00} back during these very difficult times. Any help you could provide would be greatly appreciated.
Thank you, XXXX XXXX
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| 12/31/2019 |
Yes |
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
Servicemember |
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I have a VA Home loan that was transferred to PennyMac Loan Services , LLC . On XX/XX/2019, we had reviewed my loan for a no out of pocket cost refinance. On the XX/XX/XXXX I began signing document to complete the transaction. There were some mistakes and they were going to to remake a document for me to sign and it was signed and passed to underwriting. I received 1 more telephone call wanting to confirm documentation for the underwriting on XX/XX/2019. On the call they stated that I would need {$5000.00} out of pocket for closing cost on the date of closing. I informed them that this was not correct! Your reading something wrong, This was supposed to be no cost out of pocket is what we had originally agreed. They said they would get back with my loan officer and he will be in touch with me. After a week, Nothing, I have place several phone calls and no one answers or has returned voice mails. They have straight up ghosted me! Now I have received notification that they have canceled my home insurance ( failure to pay ) without cause. I am in middle of trying to straighten this out.
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| 01/20/2017 |
Yes |
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- Loan servicing, payments, escrow account
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|
Web |
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I worked with a lender called XXXX XXXX, who later sold my mortgage to PennyMacUSA. At the time of loan origination, which was XXXX XXXX XXXX, the escrow balances on the account were XXXX for property taxes, XXXX for HomeOwner 's insurance, and XXXX for PMI. So the escrow amount per month is XXXX. The principal is XXXX and the interest is XXXX for a grand total of XXXX per month for a payment. Fast forward to XXXX, the Homeowner 's insurance went to XXXX per month. I received a bill for XXXX for the new monthly payment. When I contacted PennyMac USA, they claim that a the end of each year from the loan origination date, the escrow has a shortage.
My take : If I am paying my mortgage every single month including the escrow amounts, then at the end of the year, my escrow should be paid off. This does not seem to be the case and therefore, I need this corrected. I was expecting a XXXX dollar increase per month which made sense to me since I am under the assumption that the escrow modification would have been XXXX which would necessitate the increase in the mortgage payment per month.
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| 03/21/2017 |
Yes |
- Mortgage
- Conventional fixed mortgage
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- Application, originator, mortgage broker
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|
Web |
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I applied for a re-fi loan with XXXX in XX/XX/XXXX. During closing I was told I would only have to have an escrow because my home was in a flood zone. We knew at the time the property was coming out of a flood zone, but the new mapping would not be finalized before I closed. In XX/XX/XXXX my home was removed from the flood zone and I forwarded the appropriate paperwork to Pennymac who was now the servicer of my loan.I received several communications back and forth since XX/XX/XXXX. Each time I was informed either via letter or by email on their site that the escrow would be deleted, then it would not because of my credit score ( my credit was never pulled ), then I would call and be told it was being deleted, then I received another letter that the property loan to value ratio was not met, then I would call and they would say it 's your credit score, I provided my actual credit scores and was told it would be deleted, then I 'd receive another letter saying the request was declined due to loan to value ratio ... .and back and forth. I have all letters and dates to this statement.
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| 05/03/2021 |
Yes |
- Mortgage
- Conventional home mortgage
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- Applying for a mortgage or refinancing an existing mortgage
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|
Web |
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Penny Mac loan officer called daily soliciting us for a refinance. Once we started the process he called 4-5 times per day asking for upfront appraisal money. He promised a rate based on loan to value and credit scores he already had. As soon as he received our debt card details and charged us the appraisal money up front he stopped returning calls or emails. We informed him he had the loan amount wrong by voice mail, he promised he would make that adjustment by voice mail but he refused to call back. When speaking to the processing team they state they cant reach him either. Our lock expired today with no corrections made yet they raised the loan fees by over XXXX without disclosing them. The processing team is using a system call slydial to leave a voice mail without reaching me to make updates stating the loan officer has yet to contact them. its been 60 days sense we paid {$650.00} for an appraisal yet everything on the loan is incorrect and the rate has expired. They will not provide me with a managers name or number to speak to. They have violated all the disclosure laws
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| 07/16/2020 |
Yes |
- Mortgage
- Conventional home mortgage
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- Applying for a mortgage or refinancing an existing mortgage
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|
Web |
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XX/XX/2020 I called my current mortgage lender to inquire about recasting my loan. I wanted to know what the new payment would be if I were to send in a lump sum payment to the existing mortgage balance and have the new mortgage recast at the current rate. The service rep said she can not tell me what the new payment would be. I asked to speak to a supervisor and was told the same thing. They can not tell me what the new payment would be. I would have to send in at least {$10000.00} plus a {$250.00} recast fee first and then they would tell me what the new payment would be, but not before I send them {$10000.00}. They say they can not give me an estimate.
As a consumer, I'm trying to make the decision between refinancing and recasting. Having the monthly payment information is critical to my decision. Why would this information be withheld from me? I can estimate it myself with a mortgage amortization schedule, but I want it confirmed by my current lender. I don't understand why this can't be provided to me. I just want some one to work with me by discussing loan information.
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| 11/24/2015 |
Yes |
|
- Loan servicing, payments, escrow account
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|
Web |
Older American |
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My mortgage debt collector, PennyMac, recently sent me my Escrow account projection report for 2016. PennyMac had added another column of " Required Escrow Account Balance '' numbers which reflected another {$650.00} over and above the required and lawful planned event that has taken place in the past. When the homeowner reads the projection, you feel that you are now required to start doing this ...., and you do n't! The Escrow has already been planned properly for the upcoming taxes and insurance and is buffered correctly for a XXXX balance XX/XX/2016. I can see that a homeowner would feel pressured and obligated to start paying this exorbinate amount and/or posssibly NOT be able to pay the increase and lose their home because of their ignorance of the actual requirements. I contacted PennyMac about this and after a 10 min conversation, they graciously " waived '' the required column on the projection sheet. Only, I feel because I called and noted the already proper Escrow that was in place. This is a dangerous practice by the debt collector PennyMac and needs to be stopped.
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| 10/19/2022 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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I requested to have my private mortgage insurance removed from my loan in XX/XX/XXXX via my online account with PennyMac. I was told that my loan to value based on my original amount did not meet the required loan to value ratio and that I would need to wait until my mortgage had matured to two years, and so long as I had a good payment history, I could apply to have my private mortgage insurance removed based on the current valuation of my home, but there would be a fee of {$150.00}.
My original loan is dated XX/XX/XXXX. In XX/XX/XXXX, I contacted PennyMac to have the private mortgage insurance removed based on my current home value. I was given the option to pay the {$150.00} to have a current valuation of my home completed. However, when I sent an email noting that I was willing to pay the {$150.00} to have my home undergo a valuation process and included some improvements that I made in the home, which is not required for the current home valuation process, a PennyMac representative denied to process my request and has not responded to my correspondence since that time.
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| 05/26/2021 |
Yes |
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
Servicemember |
|
On XX/XX/XXXX, I was mailed an " IMPORTANT NOTICE '' ( all caps ) from PennyMac, my existing mortgate company. PennyMac 's letter indicated that they were " pleased to let [ me ] know about an important opportunity '' and that I could " refinance [ my ] VA loan into a new, lower rate through the VA Interest Rate Reduction Refinance Loan program. '' As my existing lender, they provided information on my loan number, my current monthly payment amount, what my new monthly payment amount could be as well as my monthly and annual savings.
They also wrote that I didn't have to transfer and I could stay with PennyMac.
They encouraged me to either call a number or visit a website to complete an application " NOW '' ( all caps ). I did that and submitted the application online to refinance my loan to lower my interest rate.
PennyMac pulled a hard inquiry on my credit. They called me only to inform me that I was not eligible, not because I wasn't financially eligible, but because I had only had a loan since XXXX and needed a total of 210 days and wasn't eligible until XX/XX/XXXX.
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| 06/06/2018 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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I have recently had a flood in my house and received a disbursement from my insurance company for around {$41000.00}. XXXX forced me to turn these funds over to them ( presumably so they can collect the interest while they hold on to my money ). Since then, I have been dealing with their internal documentation process which has caused delay after delay after delay. They are denying paperwork that is completed properly to cause delays. Every time I call to get a disbursement, I am told it's 4 to 6 days out. My leak was on XX/XX/XXXX. I sent the check to them on XX/XX/XXXX. It is XX/XX/XXXX and they have still not mailed a check to me to pay for my repair work. I have already had to pay {$5000.00} out of my own pocket to pay for the work to get started and I don't appreciate them holding my money and refusing to mail me any amount to pay for the repairs I need to have done in my home. Please get them to escalate a check to me immediately for at least {$10000.00} to cover my initial payment of {$5000.00} and give my contractor another {$5000.00} so he doesn't walk off the job!
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| 04/05/2018 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
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- Problem with a credit reporting company's investigation into an existing problem
- Investigation took more than 30 days
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Web |
Servicemember |
|
I have my payments set on auto-pay so that I know I can pay on time. The loan company published on my credit report that I was 30 days late on payments. They didn't call me in a timely manner and it wasn't until after it was reported on my credit that I was late on a payment. I called and told them it was wrong information and that I had recently move. They didn't attempt to assist me by giving me a late forgiveness since I've always paid on time. I would like to continue with this company, I just feel I'm not currently being treated fairly. The payments are due on the first so I have my accounts to pay on time. for some reason they had issues pulling money but didn't tell or contact me till after I was late. Whenever I check the account, I always see their withdrawal. Then they didn't even tell me that I had another payment due, then called me once it was past due and late. They even tried withdrawing money from both accounts. Why was I not notified that there was an issue until it was too late? I could at least get an email. Please remove the late payment from the report.
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| 05/16/2022 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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|
Web |
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Hello, My problem today is with my mortgage company " Penny Mac '' back on XX/XX/2022 I received a call from my insurance agency saying that it was brought to their attention, 4 days before my " policy '' expired, that I have NOT had home owners insurance for the past year due to non payment. What seems to have happened is that penny mac sent a check to my current insurer XXXX XXXX XXXX XXXX XXXX XXXX in the amount of {$1300.00} on XXXX but nobody knows where it was sent or if it was cashed. I received a binder that was supposed to be valid from XXXX to XXXX and even managed to refinance my loan in XX/XX/2022 with a GHOST POLICY I guess! I have tried many times with Penny mac to find out where this check went and if it was cashed. It has been almost two months now. Somebody owes me {$1300.00} dollars and I am looking for help finding who is responsible. I've already contacted the department of business regulation for insurance and they referred me to you saying that it seems like this would be on my mortgage company. I would greatly appreciate any help! Thank you very much
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| 04/19/2022 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
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Web |
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i did a complete modification on my Mortgage loan back on XXXX, the application was received on XX/XX/XXXX, i did start with my trial payments as we agreed with XXXXenny Mac for 3 months, after the trial period i was calling them every single month in order to update their system with the new interest and the new payment, every time i called, i was told to please continue the please continue making the payments, the excuse every single month, was they had an issue with the system and promising that for the following month the issue should be resolved, beginning of XXXX when i sold the house and at the closing date when we receive the Payoff we did notice that the full interest was charged and the full modification was never updated, and i ended it to pay more Than i was suppose to, after we close, we receive a letter stating that the modification was not approved, full of lies, they took advantage and and they were charging me for the original interest of XXXX XXXX, i did everything what i was asked for, it's not fair to loose this amount of money specially in these times,
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| 08/21/2021 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
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|
Web |
|
|
Penny Mac loan # XXXX.
I have PMI insurance that pennymac refuses to remove. I requested a review and they stated my loan to value was not sufficient. I appealed and they asked that I have a BPO inspection done. I paid {$150.00} to have that done. The agent that completed the inspection undervalued valued my house. He reported $ XXXX but comparable homes sold for over $ XXXX in recent months. The local tax assessment has it at $ XXXX. I also proved that I spent over $ XXXX in remodeling the home.
Either the bank is intentionally refusing to look at the real numbers or they just want my money. This has been going on for over 1 year. Fortunately this hasnt put me in financial hardship just yet but if they cant fix it, I will.
I was laid off and have been living off savings. Pennymac is either making quick decisions or discriminating against a XXXX homeowner. I dont know what it is. With all the home values jumping 20 % they are saying my house didnt budge. My house is located in one of the best school districts in the whole state of Illinois.
Thanks XXXX XXXX XXXX
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| 03/08/2019 |
Yes |
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|
Web |
|
|
One year after purchasing my home Pennymac called me and said they could lower my interest and get my payment down. I told the man multiple times that I'd be interested but ONLY if I would not lose my escrow balance. My county tax was expected to drastically increase due to it being a new home and the first year was just the land. I was told not to worry and that the ( over ) {$3000.00} I had in escrow would still be in escrow on the new loan. Come to find out that they lied and because they rushed me to sign everything and I trusted their LICENSED mortgage guy, I am now forced to come up with $ XXXX. I have a XXXX daughter and I just got a " promotion '' at work so I am now a salaried employee and lost about XXXX in overtime annually. I do not have XXXX XXXX dollars and they refuse to help me!
Based on the original loan 's balance and the refinanced amount, I would not have reasonably known that they were taking my XXXX in escrow as they now claim. They stole that from me and I have included their statements and what they advised regarding the closing costs as well.
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| 11/23/2022 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
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Web |
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My mortgage is with XXXX. My homeowner 's insurance is not escrowed and we pay it ourselves. Each year, I upload the insurance documents to their website so that they see that I have paid for the whole year in full. Each year, they threaten me stating that they don't have the documents and that they will be purchasing homeowner 's insurance on my behalf and charging me. They did this again, even though I uploaded all of the documents they request. I uploaded them within 24 hours of the new policy taking effect because they would not allow me to upload them prior to that date ( XX/XX/2022 ). I've tried to call them, but they state it is not on their website, even though I can see it uploaded there. I've asked where else I can send the documents but they will not respond. I asked to speak with a manager but they said the manager would have to call back, but no response yet. I have full insurance coverage which was provided to them, but they are still threatening to charge me for insurance I don't need. They did the exact same thing last year- and I suspect this is fraud.
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| 05/02/2022 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Applying for a mortgage or refinancing an existing mortgage
|
|
Web |
Servicemember |
|
Pennymac regularly sends advertising emails about refinancing opportunities. In it it states that it will give a .05 % point credit in addition to a {$1100.00} credit towards closing costs. When I started the process with them, I referenced this add specificially as a motivator to pursuing a refinance. They started the process and did not inform me that this is only for purchasing a new loan, not a refinance as the advertisement states. I started the process and spent {$450.00} on an appraiser, get to the end of the process, and was informed that this was not applicable to me. Later, I went through a process of trying get my PMI waived due to the amount of equity in my home. They told me they would not start the process unless I paid {$100.00} for an appraiser. I asked a lot of questions feeling mislead by my previous experiences with the refinance, and they assured me this was to appraise my home and send someone out to take a look. They never sent someone out and sent me a letter saying that they would not waive the PMI. I paid for a service and I did not receive it.
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| 01/11/2020 |
Yes |
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- Trouble during payment process
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|
Web |
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I tried to set up bi-weekly mortgage payments in an attempt to make an extra mortgage payment per year. The mortgage company is denying me this option unless I pay a full mortgage payment up front. Please see response below : PennyMac offers a bi-weekly payment service, where the equivalent of 13 payments are made within a 12 month period and to be eligible for this program, you must be paid one month ahead. You can also achieve the same result of having 13 payments applied to your account annually by having automatic monthly payments drafted as opposed to bi-weekly payments and having 1/12th of your monthly payment drafted as a principal curtailment. If you still wish to enroll in the bi-weekly program, please contact our Customer Service Department at ( XXXX ) XXXX for enrollment. '' But the odd thing is they say I can do it using my bank 's bill pay. I am unsure on why they are ok with me doing it on my bank 's site but they do not allow you to set up bi-weekly payments i.e if I pay XXXX 's payment on XX/XX/15 and XXXX I'm actually ahead by half a payment aren't I?
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| 04/01/2015 |
Yes |
- Mortgage
- Conventional fixed mortgage
|
- Loan servicing, payments, escrow account
|
|
Web |
|
|
Our home flooded when a bathroom sink pipe broke while we were away at XXXX. PennyMac financial has been holding our insurance payment for over {$120000.00} that was long ago paid by our home insurance company. The work is almost entirely completed, and they still have n't sent any initial funds. PennyMac has been passing the papers around internally, re-requesting documents we already sent, missing deadlines, and failing to communicate appropriately. They have less than 20 % loan to value on our property, and yet are still withholding our check where repairs are 90 % complete. Several times they have claimed that checks are on the way, and we find out later they are still not giving honest answers. We call them daily now, and they put a different person on the phone each time, and will not have supervisors call us back. We have paid our XXXX money out of our own pockets for the repairs as he is 90 days into the project. There seems to be no end in sight to their ability to keep deferring things 72 hours, 3-5 days etc, for problems that are all created on their end.
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| 12/20/2021 |
Yes |
|
- Trouble during payment process
|
|
Web |
Servicemember |
|
Pennymac is making it unreasonably difficult to gain access to insurance funds in order to make repairs for damage sustained during Hurricane Ida. First, they insisted on having a contractor make simple repairs that I could have done on my own. Instead I have to wait for months for a contractor to be able to get to me due to it being a disaster area. Then, while submitting the required documents they deny their own forms, stating that they do not accept that form ( substitute for w-9 ) even though the form was taken from their own list of required documents. The company never calls back when they say they will and has never been able to provide an acceptable explanation for making things so difficult. They requested that I complete the repairs on my own, with my own funds, then they will release the insurance funds once I pass a final inspection. So what is the point of having insurance if they want me to pay for the repairs myself. The likely answer is that they're making money off of investing all the homeowners ' insurance money they're holding in the market.
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| 05/16/2017 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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On XX/XX/XXXX , I send a large principal payment via check to my mortgage service company. I have sent many principal payment checks previously, the checks have been cashed and the account has been credited. This payment would lower my principle balance to less than {$1000.00}. However, the mortgage service company has refused to cash the check, and instead tells me they are send the check back to me because they consider this a loan payoff, and they will only accept a wire, or cashier 's check. My loan has no prepayment penalty. They have left me with in excess of $ 10 0K in a checking account earning no interest for weeks now. But they are charging me interest on this large sum because they refused to accept my payment in direct violation of my loan. I did not want to go through the time and expense of sending a wire or obtaining a cashier 's check. The service company is PennyMac. I find this to be unethical, and illegal. I am being penalized for prepaying my loan by the loan service company. How do I recoup my losses, and what should I do?
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| 02/04/2022 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
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- Incorrect information on your report
- Account status incorrect
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Web |
Servicemember |
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Penny Mac is continuously reporting DEROGATORY STATUS in regards to my loan UNDER FEDERAL LAW (CARES ACT RULES) I reqested a forbearance COVID-19 (PRIOR to becoming deliquent ) PLEASE NOTE THERE RESPONSE IN PREVIOUS COMPLAINT A LYE !!! @ the time of first complaint NOT OFFERING ME THE FORBEARANCE THEN ALL OF A SUDDEN AFTER MY COMPLAINT THEY WERE FORCED TO COMPLY, ALSO THEY VIOLATE THE GRACE PERIOD @ no time was I delinquent when applying for COVID-19 therefore its illegal under Cares Act. THEREFORE THERE NOT REQUIRED TO MAINTAIN A DELINQUENT STATIS "there a lyer) by federal law required to report as CURRENT, I spoke to there legal department numerous times and they agreed the report was wrong then last week he stated it was not wrong and I hung up in his face, there tactics and damaging my report has acquired much emotional harm as well higher interest rates that creates a hefty penalty/LAW SUIT there wrong reporting dropped my score XXXX points QUITE DAMAGING please note I am a payee on the XXXX XXXX law suit and PennyMac has adopted the same practices.
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| 06/12/2017 |
Yes |
- Mortgage
- Conventional home mortgage
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
Older American |
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My name is XXXX XXXX . I applied for the Tennesse e Housing Development PRRPLE Program. This is a mortgage reduction program that assist homeowners who have had a major change in their life such as divorce or death of a spouse. My husband died XXXX / XXXX / XXXX . Due to my loss of income, I applied for this program submitting documentation over a 2 1/2 month period. I received a certified letter stating that my mortgage compan y, Penny MAC USA w ere not willing to accept the terms of the agreement. They wanted the {$40000.00} but only wanted to do a curtailment. They will not reduce the monthly payment and rewrite the terms which is a requirement for the PRRPLE PROGRAM. I have reached out to state and federal representatives. I was told to write your office to see if there is more that can be done. I need help. My monthly income in XXXX . My mortgage payment alone is XXXX . This program would be a XXXX send for the circumstances that I currently face. Can you help me? XXXX APPLICATION NUMBER : XXXX PENNYMAC USA LO AN NUMBER : XXXX
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| 02/18/2021 |
Yes |
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
Servicemember |
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I'm a veteran in a 30 year loan, my mortgage company is PennMac, whom offer to refinance my loan at a Fix Rate of 1.999 %? interest rate.so they sent me a Loan Cost Agreement Disclosure Package, in which Instead there was a disclosure of a floating rate agreement, in which they insisted I sign, and then durning the final paper work would then sign into a fix rate agreement? inwhich I could've go into a much higher interest rate then I already have, if I were to sign this agreement.this was an act of deceitfulness, especially when other lenders told me that interest rate of XXXX doesn't exist on todays Mortgage market.it was an outright act of deception.and if I had sign, that float rate agreement my mortgage payments could've Skyrocket, into not being able to afford to pay and losing this home.but through his Grace I didnt sign that selling Of souls deception of promises.they need to be review interrogated and question on their acts of decivefullness practices, and their my mortgage company at that??????
XXXX XXXX XXXXXX/XX/XXXX Veterans XXXX XXXX XXXX
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| 10/31/2020 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
Older American |
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PennyMac, XXXX. XXXX, XXXX XXXX CA XXXX ATTN ; XXXX XXXX XXXX XXXX XXXX Property Address : XXXX XXXX XXXX , XXXX XXXX NY XXXX Loan XXXX XXXX XXXX & XXXX XXXX PROBLEM ; On XX/XX/20, we applied for a loan modification on our mortgage. We were given 2 options for a modification ; a reduced monthly payment or having 3 mortgage payments added to the end of our mortgage ( extended maturity date. ) It was called a forbearance plan where there would be no mortgage payments for a specified period of time. Then normal payments would resume. We choose the forbearance plan because a modification with a reduced payment required the establishment of an escrow a/c.
By the terms of our original mortgage, an escrow a/c was waived and we paid taxes and insurance direct. They received our application on XX/XX/20. I am now receiving foreclosure notices that an escrow a/c was opened and we are delinquent on our mortgage. I have made numerous phone calls to have the escrow a/c removed to no avail. I need your assistance as my advocate to request the removal of the escrow a/c.
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| 03/17/2017 |
Yes |
- Mortgage
- Conventional fixed mortgage
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- Settlement process and costs
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Web |
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This is my second complaint against my wife 's mortgage company, PennyMac of XXXX, CA. XXXX.
She was the victim of arson back in XX/XX/XXXX. Her insurance company shelled out nearly {$10000.00} for the repairs. We 've received less than {$20000.00} and that was back in XXXX. We have yet to see a check in XXXX. We have done everything they 've asked and yet we ca n't get XXXX money to repair our home. Too many excuses.
My wife was given a trial modification. She paid all 3 months as required. She was then given a permanent modification starting in XXXX and yet we were still served with foreclosure papers. We had to go to court to let them know we were in modification. Can someone please explain to PennyMac that dual tracking is against the law? Can someone please serve PennyMac with a copy of the National Mortgage Settlement Act of XXXX so they will have their very own copy? it appears no one there has ever heard of dual tracking. At least that 's what they tell my wife when she calls. This is my final complaint. My next action will be in a court room.
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| 09/13/2023 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
- Private mortgage insurance (PMI)
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Web |
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I have now spent 3 months in the process of disputing an unfair and incorrect valuation completed to justify PMI deletion. Pennymac has now gone back and forth in denying the XXXX XXXX I have provided on 3 separate occasions, each with more supporting evidence that my home is easily market valued to constitute deletion based on Pennymac 's own requirements. They have arbitrarily made up numbers with no backing data despite requiring me to provide hard evidence that they then ignore. I have spent well over 15 hours of my own time to discuss this with them via messaging and calls with no help or assistance in resolving this fairly. After months of communication back and forth, they then replied to a message that yet again clearly showed that the valuation was unfair and not factual based on more than 10 comps I provided ( when they only required 3 ) in the time frame they requested that I am now out of the time window to dispute. I am out of this time window because they have gaslighted the XXXX XXXX and requests in order to extort my money for their gain.
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| 02/05/2021 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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I closed on a property on XX/XX/XXXX and had XXXX Mortgage ( XXXX XXXX ). Not issues with that.
They sold the loan to Penny Mac on XX/XX/XXXX and I was notified on XX/XX/XXXX via mail. meanwhile I cut a mortgage payment to XXXX XXXX and it was cashed on XX/XX/XXXX for {$1800.00} ( check is attached ).
I had contacted Penny Mac and they told me they had up to 60 days to receive payments and update records. I waited until XX/XX/XXXX ( just over 60 days ) and asked XXXX XXXX Info to provide proof that the payment had been sent to Penny Mac. They ended up getting me in touch with XXXX XXXX ( Post Closing Assistant at XXXX ). Some person named " XXXX '' said " Didn't know payment belonged to investor ... slow " purchase advise in XXXX '' issue. THey overnighted a check to Penny Mac that day. Monday was a holiday ( XXXX XXXXXXXX day ) and the payment was applied on XX/XX/XXXX.
I reached out to both companies and requested payment gets applied back to date it was cashed ( XX/XX/XXXX ). They both said they would look into and no reply fom either on assisting.
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| 07/19/2023 |
Yes |
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- Trouble during payment process
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Web |
Servicemember |
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I've been on the COVID XXXX forbearance plan for XXXX year getting ready to get off XX/XX/XXXX every 3 months I would talk to them about what it was going to be like when I got off and how it would affect my payments. After the first 6 months they told me that I would have to pay all the back payments split into XXXX equal payments and the original loan payment. Then at 9 months they told me no that's not true they just tack the money on to the end of the loan and business as usual you'll Play Your normal monthly mortgage payment and they will extend the terms out. Today they told me no I will have to pay lump sum {$15000.00} which is the total past due. Or I can do a loan modification which this is the first time I ever heard the word loan modification for a different interest rate. Never did I hear that they were going to change my interest rate which obviously is a much higher interest rate than XXXX then I currently hold. I would like them to keep the plan that they told me and just to start with my mortgage payment on the XXXX and business as usual
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| 04/16/2022 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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Pennymac is my mortgage service provider who continues to mis-allocate my payments.
Every month I make extra payment over required amount and I have asked Pennymac to apply the extra payment for " Principal Reduction '' Yet Pennymac continues to apply it to next payment and then put remaining into " Interest Free '' Reserve ( similar to escrow called suspense acct ).
I have called Pennymac every month for last three month asking to ensure that my extra payments are allocated to princpal reduction but company continues to ignore my requests and continues to put extra payments into pseudo escrow account and continues to charge me excess interest on my outstanding principal. This is clearly meant for them to collect more interest income while stopping consumer from pre-paying their mortgage.
What is astonishing is that Pennymac 's partial payment policy states that excess payment will be allocated as per consumer request. This policy is printed at the bottom of second page of the attached statement. Yet they aren't following it despite repeated requests
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| 02/13/2022 |
Yes |
|
- Trouble during payment process
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Web |
Servicemember |
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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 ).
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| 02/06/2020 |
Yes |
- Mortgage
- Conventional home mortgage
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- Applying for a mortgage or refinancing an existing mortgage
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|
Web |
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Pennymac is our current mortgage company and in the process of applying for refinancing they did not provide adequate guidance in that process. The loan officer would give us lists of things to do, such as paying things down, and closing open disputes in order to get our credit up to complete the loan process. In doing so they would repull our credit everytime and give more guidance. The process was horrible. So we decided to use XXXX XXXX since they provided proper advice in helping us correctly. During this process we lost our loan capability due to a 5 point credit score drop over the entire process that involved almost 10 credit pulls combined by the 3 companies. That unprofessional guidance along with greedy loan officers has caused us to spend thousands paying the things off they asked us to pay and left us with no refinance to regenerate the money we lost in the process. We have made our house payment the last 7 years without missing a single payment and jow are denied based on 5 points in a system they abused through too many credit inquiries.
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| 01/26/2018 |
Yes |
|
- Trouble during payment process
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Web |
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PennyMac mortgage company does not offer functionality for their customers to make their mortgage payment from two accounts. I've asked repeatedly why this can not be done and their only response is they don't accept partial payments. I've explained we are not making a partial payment, we are paying the full payment just out of two accounts since we share responsibility in the monthly payment. Their automated system/internet system are preset to not allow consumers the option to make the full payment from different account information. You are forced to make payments over the phone with a rep with a resulting fee. This seems like an unfair practice to just make an additional fee ; the options available should be the same at all touch points for the customer.
In addition they will take excess for escrow and still advise that your payment is increasing to cover escrow cost. If a consumer pays the difference due to avoid an increase in payment ; why is the monthly payment still increased. When asked, they can't answer ; state that's just how it is.
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| 07/12/2017 |
Yes |
|
- Struggling to pay mortgage
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Web |
Servicemember |
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On XX/XX/XXXX received a telephone call from XXXX collection agent, XXXX # XXXX. She stated that I need to make a payment towards my mortgage and it was delinquent 15 months. First I told her that I was not delinquent 15 months as 3 months have not been credit to my account from XX/XX/XXXX, XX/XX/XXXX, and XX/XX/XXXX and further I was under review of a modification that was fully submitted on XX/XX/XXXX and waiting for a decision within 30 days. In a condescending tone, she stated that my modification was not guaranteed and my payment can go up. She further stated that since I was not making a payment I must not be able to show the bank that I am able to afford the house and therefore she is noted my account that I need to look into other types of programs such as deed in lieu. I told her that I was not going to be threatened by her and to speak to my Point of Contact. I was on hold for over 30 minutes and then hung up and called back 2 more times with no success. I contacted the HUD Department and waiting to hear back from them before next week.
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| 03/20/2023 |
Yes |
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- Trouble during payment process
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Web |
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I have my mortgage with PennyMac, I think that they bought my mortgage from the original lender I'm not sure, anyway when i first received my payment letter i went on lenders website and set up auto pay, after a year or so i guess the escrow amount changed to an additional XXXX XXXX at this point PennyMack was sending my mortgage payment to the balance and telling me i missed a payment! so after i called in and complainer they applied payment and i gave them my checking info and they fixed it temporarily, i told them i was on auto pat they said i was not, they told me that my bank should fix this, so i went to the bank and they said i did not have any auto pay on my account and that PennyMac takes money out! I've been going back and forth for monthes and now they say that i missed a payment in XXXX and that i had to talk to another department and then was disconnected called PennyMack back and was hung up on? The gentlemen was very rude and had no empathy for my situation before abruptly disconnecting call. Now my credit rating is being affected
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| 12/03/2019 |
Yes |
|
- Applying for a mortgage or refinancing an existing mortgage
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Web |
Servicemember |
|
My home was awarded 100 % exclusively to me during a divorce by a State District Court Judge here in Texas. I had to provide a quit claim deed from her and did so releasing her from any obligation on the loan according to Texas State law and according to the Judge 's order.
I sent the decree of Divorce and the quit claim deed to PennyMac along with a trove of other ditrius and paperwork like nine days of bank statements et cetera.
All of this was turned in and carefully checked off according to a PennyMac statement.
Several PennyMac Assumption team " specialists '' confirmed that I had indeed turned everything I and my ex-spouse needed to turn in. Several of these people told me my wife 's name would be removed from the home in a matter of days. This was two months ago. Now these " specialists '' won't return my calls and I can do nothing with my home because PennyMac refuses to remove my wife 's name from our mortgage in defiance of a State District Court judges order. I can do nothing with my home to include refinancing it, or selling it.
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| 07/01/2021 |
Yes |
|
- Trouble during payment process
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Web |
Servicemember |
|
XXXX XXXX in the state of Georgia, sold my home mortgage to PennyMac way in California without informing me until after it was already done. I didnt have a choice in the matter despite my objections. Now, PennyMac has increased my fixed rate mortgage from {$1100.00} to {$1300.00}. They claimed the reason for the increase was due to my insurance. However when I asked PennyMac what was the amount of my insurance previously versus now, there was only a {$7.00} ( XXXX dollar ) difference? PennyMac failed to properly explain how a {$7.00} dollar difference could result in over a {$120.00} dollar monthly increase. PennyMac claimed that they had to charge me more money in order for my escrow account not to be delinquent by over {$1000.00}. I asked them how would I be in the hole by over a thousand dollars for only a XXXX dollar increase? They couldnt explain it to me in a way that made any sense. Ive had my insurance to slightly increase in the past, but it didnt result in such a dramatic difference in the cost of my mortgage like it is with PennyMac.
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| 03/31/2021 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Applying for a mortgage or refinancing an existing mortgage
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|
Web |
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|
On XXXX, after having started the refinance process back in XXXX of XXXX, I was told that I was declined due to a debt to income ratio of 53 %, I have provided to Penny Mac my bank statements and tax returns that show my taxable income in XXXX was {$130000.00} and that my taxable income in XXXX was {$190000.00}.
The loan I am refinancing is currently 3.625 % with a payment of {$2400.00} per month XXXX XXXX XXXX. The principal amount is {$340000.00} with an appraised value of over {>= $1,000,000}. The loan I am applying for would be a 30 year conventional at 2.5 % with XXXX of a point buy down. The payment would be approximately {$2000.00} per month XXXX XXXX XXXX.
My monthly bank deposits support my taxes. Explain how you can you decline me on a debt to income ratio of {$2000.00} a month mortgage against {$190000.00} of income.
Penny Mac has extended the rate lock twice at their expense, since any delays have been on their part. I have left several phone calls and sent 3 e mails requesting a call and have not been able to get an explanation.
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| 06/21/2022 |
Yes |
|
- Trouble during payment process
|
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Web |
Servicemember |
|
I went into a COVID-related forbearance on my VA Loan during the approved period. I voluntarily ended the forbearance and began remaking regular payments. I never missed a single payment before or after the forbearance period until XX/XX/2022, when my lender PennyMac disabled my option to pay on-line and they proceeded to foreclose on my property. I have since tried to make payment unsuccessfully and am told I must sign a modification trial period. Per PennyMac 's records, they have tried to send me items through the traditional mail and they have been returned to them. I have spoke with my local post office and they have no indications of why there is a problem with mail delivery as I receive all other mail. I am not late on any other bills, as they are mailed to my house. Since XXXX, I have been told the documents that are needed are on-line in my portal. As of today, XX/XX/2022, they are not available. I have been trying to comply with whatever is needed since I became aware of the problem, but the lender is not willing to work with me.
|
| 06/07/2022 |
Yes |
|
- Applying for a mortgage or refinancing an existing mortgage
|
|
Web |
Servicemember |
|
I started the refinance process approximately 21 days ago. I have been constantly ask, and required to provide duplicate information, and asked to provide personal dependent information related to me having legal guardianship of my biological relative. Each time I've submitted required documentation, Pennymac discovers something new is needed ... .something that was never disclosed. For example, I started the process 21 days ago, today I was asked for the first time to provide information that my current loan is not in forebearance. I've spoken to multiple representatives, on multiple occasions ( I have phone records to validate ) in attempts to get clarity, and provide Pennymac with everything that is being asked of me. I've been told by at least one representative that they have received all required documents, only to find out later that something new is being requested. There hasn't been any transparency, or consistency with this process, which is really causing mental anguish, as I have diligently provided everything they have asked..
|
| 08/02/2021 |
Yes |
|
- Trouble during payment process
|
|
Web |
Servicemember |
|
Pennymac bought my mortgage.
I sent first payment by mail on XX/XX/2021.
They claim they never received. I called several times in the month to see if they received.
XXXX payment which arrived in Pennymac processing center on XX/XX/2021 confirmed by Pennymac customer service. They said would be processed that day/evening after hours. Said I could call back Saturday morning XX/XX/2021 and confirm. Said payment would be counted as received because XXXX confirmed receipt.
Saturday XX/XX/2021 they stated that they couldn't confirm receipt because its the weekend and they can't contact the cashier department. This is not what customer service agent XXXX said on XX/XX/2021. She said they'd be open.
I can not as of yet confirm that payment was received. XXXX in their XXXX Tx office says there's a '60 day grace period for new customers '. I dont need that because I'm TRYING to pay them. This is a scam. They want electronic payment and a late fee. I need CFPB help to make sure my payments are received and that I am not charged late fees.
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| 02/09/2021 |
Yes |
|
- Trouble during payment process
|
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Web |
Servicemember |
|
XXXX XXXX I received a delinquent property tax notice indicating that my mortgage lender had failed to pay it through my escrow that was already established with them. It was a time sensitive issue so I paid the property taxes myself ( in the amount of {$360.00} ) and contacted the mortgage lender in order to have the funds reimbursed to me. I contacted them to explain the situation and have them remedy it but the rude customer service explained to me that it would take at minimum 14 days in order for someone to even talk to me regarding this issue which is a rather lengthy timeline and indicates that the company does not act in good faith towards resolving customer issues. After not having been contacted in that timeframe, I sent an email on XX/XX/XXXX directly to the lender explaining the issue and I received a canned response that they would forward the email and someone would get back to me shortly. No one has gotten back to me about reimbursing me my costs for their negligence and resolving the issue so that it does not happen again.
|
| 05/27/2015 |
Yes |
|
- Loan servicing, payments, escrow account
|
|
Web |
|
|
I have a mortgage though PennyMac and have had XXXX instances of them obtaining insurance on my behalf which was inappropriate.
In the XXXX case, I was notified by PennyMac that I was no longer required to hold Flood Insurance as FEMA had reclassified my location. I returned their form letter in XXXX of XXXX requesting that they not pay that insurance when it renewed. In XXXX of XXXX, PennyMac paid the renewal in spite of my written direction. After more than XXXX calls to their insurance and escrow departments, I gave up - not having received any money back.
In the XXXX case, PennyMac had renewed my home owners insurance through XXXX XXXX in XXXX XXXX and for reasons that I have not been able to determine paid for a second home owners from a company called XXXX XXXX in XXXX of XXXX. I believe that they were scammed by someone posing as a XXXX XXXX employee, as XXXX XXXX denies having anything in my name and does not do business in XXXX. Once again, I have been completely unable to get PennyMac to re-imburse me for the missing funds.
|
| 02/16/2021 |
Yes |
|
- Applying for a mortgage or refinancing an existing mortgage
|
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Web |
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This is the second round of complaints on this sorry company The complaint before was they did not pay my homeowners insurance out of the escrow and they almost cancelled my policy. Now they have raised my house payment by {$310.00} a year with no explanation. They're always short funds in the escrow, never enough money this has to stop. They're committing price gouging. They were supposed to contact me to refinance my loan yesterday for USDA and the guy named XXXX XXXX no longer works there and they know nothing about the previous notes. I talked to this guy in XXXX to start the process. I want my loan refinanced today. I am sick of this company getting away with this. I keep asking for help for my family and their home. All this company wants is for me to close the complaints as soon as possible. I'm not closing it. Refinance my XXXX loan the government has lowered rates and XXXX XXXX won't let me refinance. They keep you on hold for hours trying to get XXXX loan officers on the line. Please help me get this resolved once and for all.
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| 02/24/2017 |
Yes |
- Mortgage
- Conventional fixed mortgage
|
- Loan servicing, payments, escrow account
|
|
Web |
|
|
I SUBMITTED A CHURCH CHECK FOR MY HOUSE PAYMENT FOR XXXX 2017 AND THIS SERVICER INTENTIONALLY DESTROYED IT SO THEY COULD HAVE THE OPPORTUNITY TO FORECLOSE ON ME. THIS HAS BEEN PROBLEMATIC FOR THE LAST SEVERAL YEARS. IN ADDITION, THEY ARE CLAIMING THAT I MISSED MY XXXX PAYMENT, WHICH IS A LIE. THEY ARE WORSE THAN THE WORST. EVERY YEAR THE XXXX HELPS ME OUT FOR ONE MONTH OUT OF THE YEAR AND THIS SERVICER WILL NOT ACCEPT IT, WHICH IS ILLEGAL. I HAVE POSTED THIS COMPLAINT AND IT IS VIRAL AND WILL BE RECEIVING RESPONSES FROM VARIOUS. I WILL NOT ALLOW THEM TO INTIMIDATE NOR THREATEN ME IN ANY WAY AND ACTION WILL PREVAIL AGAINST THEM.
THEY ARE PENNY MAC AND ARE A WHOLE SALE ONLY. THEY ARE NOT AN INSTITUTION AS THEY PRESENT THEMSELVES TO BE. THEY ARE FRAUDULENT AND THE SERVICES THEY OFFER ARE WITH BLOOD ON THEIR HANDS AND THEY ALL SPEAK WITH FORK TONGUE. THEY HAVE LAW SUITS AGAINST THEM AND THAT TOO, IS ON THE WEB. I WOULD NOT RECOMMEND THEM TO A SHARK.
THE GOVERNMENT NEEDS TO INTERVENE AND CLOSE THE DOORS, AS THEY CONTINUE TO BE PREDATORS.
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| 02/07/2017 |
Yes |
- Mortgage
- Conventional fixed mortgage
|
- Loan modification,collection,foreclosure
|
|
Web |
Servicemember |
|
XXXX and XXXX XXXX applied for a modification with PennyMac mortgage and they received the modification however, the value of the home is {$210000.00}. The modification is for {$510000.00}, which PennyMac told us that we could refinance after 6 months of on time payments. We met the 6 months on time payment on XX/XX/XXXX but PennyMac did not keep their end of the promise. We were told that {$220000.00} was written off, that is it, and that is all. " You and XXXX XXXX do not qualify for a refinance and we are not writing off any more of your loan ''. My husband gave me a XXXX XX/XX/XXXX and now my husband has been diagnosed with XXXX. We need PennyMac to refinance our house because my husband medicines along with my medicines are costly. We do not want to lose our home but we do want PennyMac to work with us to keep our home. We have also gone to the Illinois State Attorney. The solution has not been reached with the Illinois State Attorney but the Veteran Administration told us to write to CFPB for help. Yes, my husband is a US Veteran.
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| 12/06/2023 |
Yes |
- Debt collection
- I do not know
|
- Written notification about debt
- Didn't receive enough information to verify debt
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Web |
|
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I am writing to formally dispute the inaccurate information regarding late payments on my credit report. After a recent review of my credit history, I discovered discrepancies that do not accurately reflect my payment behavior. Specifically, the late payment information associated with the following account : Pennymac Loan Servi XXXX -Those payments were made on time. I am requesting that the late payment markings be updated to reflect my accurate payment history.
I have always been a responsible and diligent payer, and any instances of delayed payments have been promptly settled upon discovery. It is disheartening to see that my credit report is currently reflecting late payment information that is not representative of my true creditworthiness.
I kindly request a thorough investigation into the accuracy of the late payment information associated with the mentioned account. I believe that there may have been an error in reporting, and I am confident that a closer examination will reveal my consistent track record of timely payments.
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| 09/10/2020 |
Yes |
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- Trouble during payment process
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Web |
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I recieved a letter in XXXX from Penny Mac mortgage co. informing me that my payment was going to increase due to escrow funding. I assumed that the payment increase was gon na be in XXXX. But it was for XXXX i sent my normal mortgage payment of XXXX and they recieved and cashed it on the XXXX of XXXXwell they took my payment and put it in a suspense file because it was XXXX short of the full payment.they say they tried to contact me but could never reach me and on XX/XX/XXXX they placed a 30day late on my credit bueau report.now they have my mailing address but never sent me anything they say they called me but if a number comes up on my phone as spam i dont answer they have my email address but never emailed me to notify me of the situation instead they were real quick to put it on my credit bureau report.I have brought the payment current but they say that they cant take it off my credit report now.I was trying to refinance my house but this mark on my credit has stopped that process thanks to this very rude and aggressive company.
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| 05/25/2020 |
Yes |
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- Trouble during payment process
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Web |
Servicemember |
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Since my mortgage was transferred to PennyMac in XXXX of XXXX, my payments have steadily increased, despite a reduction in my Property taxes. Before my mortgage was transferred to PennyMac, my payments were XXXX, my payments have increased every year since XXXX, with the current payment being XXXX.
I was told that my monthly payment increase is to offset a shortage in my escrow, however my property taxes and homeowners insurance is current, and although my homeowners insurance has increase, recently my property tax was reduced, my escrow should be XXXX. XXXX, however PennyMac, is currently charging me XXXX.
My payment should be as follows : Mortgage : {$450.00} plus escrow ( {$230.00} ) = $ XXXX County Tax : {$670.00} City Tax : {$170.00} Hazard Ins : {$1900.00} Total Payments from Escrow : {$2800.00} XXXX = {$230.00} However, PennyMac monthly statement reflects XXXX.
My property tax was reduced effective XX/XX/XXXX, however PennyMac, never applied the refund to the balance of the loan and or refunded the amount to my bank account.
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| 08/08/2021 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
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- Problem with a credit reporting company's investigation into an existing problem
- Their investigation did not fix an error on your report
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Web |
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Inadvertently posted an incorrect mortgage payment.
My husband made our regular payment to penny mac.
This mortgage pmt. was posted to penny mac XX/XX/2021 in the amount of {$1400.00} Unfortunately, the full payment due was {$1400.00} leaving the payment short {$19.00} I was made aware of this error on XX/XX/XXXX.
This was a human error which I feel should be forgiven.
I am devastated my 100 % payment history with all of my creditors is now 99 % costing me 70 points drop in credit score! I have reported my concerns to penny mac as well as XXXX XXXX the investigation result is verified as accurate. I am not satisfied with this result.
The past due amount should reflect the amount that was past due which is {$19.00} not the full payment of XXXX " past due '' means past due.
My credit report reads past due : XXXX, XXXX.
My payment is XXXX XXXX and where do they get this amount from?????
This is also incorrect.
If they can't grant me one forgiveness I would like my report to adjusted correctly.
' PAST DUE XXXX ''.
Thank you.
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| 01/08/2023 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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I had a fire in my house where substantial damage occurred on XX/XX/2022. My insurance company provided an initial settlement to rebuild the house ; sending a check to me, my wife, and my mortgage lender XXXX in the amount of {$290000.00}.
After the initial payout of {$97000.00} and partial additional funds of {$110000.00}, XXXX has denied my various request for more funding so I can finish rebuilding my house.
I have provided receipts and bids showing funds I have spent forwarded to XXXX to no avail. As of today, I have spent {$290000.00} and I can not continue to fund the rebuild while XXXX is holding funds that are intended for my rebuild.
XXXX claims their inspection department is showing not enough progress was made on repairs so they are withholding the funds. However, I have stated repeatedly and in multiple letters to them that their inspection is wrong. I even provided receipts from city inspection showing further progress of my house.
At this point, XXXX is hindering my process to complete the rebuild of my house.
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| 10/13/2022 |
Yes |
- Mortgage
- Conventional home mortgage
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Web |
Older American |
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On XX/XX/XXXX, XXXXennyMac Loan Services pre-approved me for a fixed-rate 30-year conventional loan for $ XXXX.On XX/XX/XXXX, the Sellers accepted my offer of $ XXXX to purchase their single-family home listed for {$590000.00}, which was built in XXXX.
The Home Inspection was performed on XX/XX/XXXX, and the Home Appraisal was completed on or about XX/XX/XXXX. The Closing Date is XX/XX/XXXX.
The issue I'm encountering is with the completed home appraisal. According to my lender, the appraisal management company, XXXX, is not releasing the appraisal stating they are pending revision from the appraiser and are not giving my lender any additional information or reason. This has been ongoing since XX/XX/XXXX. According to the lender, XXXX continually states the same reason, an incomplete appraisal. My agent assures me that he has never encountered a home appraisal taking this long to be submitted.
It is now three weeks post-appraisal, and I am getting anxious that I may not be able to close on time and potentially lose the home.
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| 05/29/2019 |
Yes |
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- Trouble during payment process
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Web |
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PennyMac did my annual escrow analysis in XX/XX/2019. I could pay the shortage or my payment would increase. I chose to pay the shortage and made a {$600.00} payment on XX/XX/XXXX which brought my monthly payment to {$940.00} which I paid for XX/XX/XXXX. I then received notice that my payment had actually increased to {$990.00}. I called and spoke to an agent at PennyMac on approximately XX/XX/XXXX. He stated that my county taxes had been reduced and my new payment was {$910.00}. On XX/XX/XXXX, I received a notice that my payment of {$940.00} was short by {$45.00}. I called on XX/XX/XXXX and they agent stated that my payment had not been reduced and they would have to do another analysis in order to reduce my payments. I asked why I was told that my payment had gone down and she stated that she did not know why the other agent told me that. I gave her permission to reanalyze my escrow.
This is how people get into financial trouble with their mortgage companies. I was given false information and PennyMac miscommunicated with me.
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| 10/29/2023 |
Yes |
- Credit reporting or other personal consumer reports
- Credit reporting
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- Problem with a company's investigation into an existing problem
- Difficulty submitting a dispute or getting information about a dispute over the phone
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Web |
Servicemember |
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15 U.S. Code 1681s2 - Responsibilities of furnishers of information to consumer reporting agencies- COVID-19 Relief PENNYMAC LOAN SERVICES Loan number XXXX XXXX XXXX XXXX XXXX XXXX, GA XXXX.
THE REINSTATEMENT BALANCE PAYMENT HAS BEEN SUBMITTED AND ACCOUNT IS NOW IN CURRENT STATUS My name is XXXX XXXX and I am writing this letter in hopes of removing late payment from my credit report. I am currently going through a divorce. We separated in XX/XX/2020 because of the negative impact XXXX had on our marriage. Due to us being in the XXXX, we both were affected in negative ways. From the constant change in scheduling, to the disagreement in beliefs of the vaccine, to being XXXX in short notice it cause a terrible fall in our marriage. When he finally got fed up and moved out he completely stopped supporting the bills which in turn left to pay all the bills and then some .I just recently submitted a payment of $ XXXX to have my account reinstated. I am in a better place financially and will no longer have issues making any payments.
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| 01/17/2018 |
Yes |
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- Trouble during payment process
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Web |
Servicemember |
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PennyMac has a responsibility to pay consumers Property Taxes on a timely basis.
After reviewing our Mortgage Interest Statement ( Form XXXX ) for XXXX I noted a large shortfall in Real Estate Taxes paid. After speaking with two senior supervisors at PennyMac I was told the taxes are paid by a third party tax service ( XXXX ) and two of the four taxing entities rejected the tax payment for XXXX.
I 've been dealing with the same taxing entities for over 25 years and to the best of my knowledge my mortgage companies have NEVER had a tax payment rejected!
PennyMac made absolutely NO effort to contact me and review the issues of rejected tax payments until I contacted them in XXXX of XXXX. PennyMac also told me they would not send me a corrected Form XXXX given tax disbursements were not made in XXXX.
They stated the shortfall would be made up in XXXX. PennyMac 's failure to pay our property taxes may cause us to loose a significant tax deduction for XXXX.
POOR customer service and FAILURE to pay taxes on a timely basis!!!
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| 01/08/2021 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
Older American |
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I opened a new mortgage with property tax impound account with PennyMac, XXXX XXXX in XX/XX/XXXX. After 6-weeks/repeated notice that my property taxes were to be paid semi-annually, not annually, they still failed to pay taxes timely prior to delinquent date. They claim they sent the payment electronically 4 calendar days after delinquent date of XX/XX/XXXX. After 3-1/2 weeks, property taxes still show delinquent with XXXX XXXX County Tax Collector. I am in process of refinancing my mortgage for 2.25 % and am concerned this will hold up loan approval process. At my request, PennyMac closed my impound account as of XX/XX/XXXX ; I can not trust them to pay timely. I have not yet received a refund ; they can not verify check has been mailed to me. Additionally, they collected another {$620.00} in taxes on XX/XX/XXXX via auto-pay. Their system shows I have no impound account, thus a way to track the additional refund due me. At my insistence today, a PennyMac supervisor said she would refund that amount directly to my bank account.
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| 12/17/2020 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
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- Problem with a credit reporting company's investigation into an existing problem
- Investigation took more than 30 days
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Web |
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My mortgage company keeps reporting me late at the beginning of every next month while I'm in a forbearance plan. The hurt I suffer from watching my personal credit take such a huge hit in having a negative score is very depressing to me and our family. I literally have high BP from all this stress they'd cost me and my family. We'd been fighting this issue for 7 months straight. PennyMac is my mortgage company. We could really use some help on our end here. We have a house full of XXXX children and can't live in peace knowing I cant qualify or a refinance because my credit score keeps showing a late status. The crazy thing is it's always showing me late at the beginning of every month.
I don't even think that's legal. I always thought you had to wait until the month-end for the thirty days late in order for a company to mark you late? But please someone help me get this issue rectified. XX/XX/2020 late marked by the mortgage company I've tried everything from call to sending letters for about the previous months being late.
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| 09/10/2019 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
Older American, Servicemember |
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My home had a major water leak problem and my insurance company sent me a check for $XXXX as settlement but the check was made to both me and PennyMac my lien holder. Repair work was completed 6 weeks ago and PennyMac sent an adjuster to certify that all repairs were done and he did that on XX/XX/XXXX (my claim # is XXXX). Since then PennyMac has on four occasions told me by phone that MY MONEY was being sent to me, on the past 3 occasions I was told it was being sent the next day by XXXX since they had been advised that I was going to be out of the country for an extended time. I leave tomorrow and no check. I believe that they are operating unethically and have a practice of withholding clients money to profit from the float . They are cheating California residents in ways similar to the XXXX XXXX problem. I strongly request as a large VA Tax payer, business owner and voter that an investigation be started to see if this is a common practice by PennyMac. XXXX XXXX, XXXX XXXX XXXX XXXX, XXXX XXXX CA XXXX. XXXX
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| 12/29/2015 |
Yes |
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- Loan servicing, payments, escrow account
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Web |
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I have several complaints that has occurred since my loan was transferred from XXXX to PennyMac in XX/XX/XXXX. First, on XX/XX/XXXX I received a letter from PennyMac stating I have an escrow shortage for {$9.00}. I called the XXXX provided on the letter to get clarification since my previous escrow review when with XXXX was done XX/XX/XXXX and was not up for review until XXXX XXXX and also, I received a check XX/XX/XXXX for an escrow refund and as of today my escrow balance meets the fha guideline for 2 months reserves. I spoke with a rep from PennyMac and pointed out several irregularities that appear on the letter and my online account. These items are multiply pmi payments XX/XX/XXXX when it was paid by XXXX and it was never credited back. Second, I have never missed anypayments but PennyMac continue to show late payments and charged my account and then revised the fee but never update it records to show. Third, I believe this company is not acturally maintain mortgage accounts and having customers covering their mistakes.
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| 10/04/2021 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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Pursuant to my original complaint # XXXX XXXX XXXX promised to send a gift card for {$100.00}. The card was not sent. Below is teh script from his response : On behalf of PennyMac, please accept my sincere apology for any frustration and confusion you experienced as a result of this matter. PennyMac strives to provide quality service to all of our customers. Your feedback is very important as we are constantly looking for ways to improve our services. As a gesture of goodwill, a gift card for {$100.00} will be sent to you under a separate cover. Thank you for allowing me to address your concerns. In accordance with the Real Estate Settlement Procedures Act ( RESPA ), you have the right to request documents that we relied upon in reaching our determination ; therefore, I have enclosed the supporting documents for your convenience. Should you have further questions related to the matter above, you may contact me directly at ( XXXX ) XXXX, extension XXXX. My office hours are XXXX XXXX to XXXX XXXX PT, Monday through Friday.
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| 04/06/2021 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
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- Incorrect information on your report
- Old information reappears or never goes away
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Web |
Servicemember |
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I have had problems with this company in previous and your agency helped me out. Thank you. I have another issue wherein they are deliberately reporting negative late payments from XX/XX/XXXX when I placed them on notice of my XXXX status in XX/XX/XXXX and they refused to assist me as a XXXX XXXX XXXX and attempted to accelerate foreclosure so I would have no place to live upon returning ftom a very dangerous XXXX tour. It is now 3 years later and the late payments from XXXX-XX/XX/XXXX still show on my credit report wherein I qualified for XXXX at the time. I am in the process to try to get my finances in order and this account is the Only account showing Derogatory and my attorney has written letters to the credit bureaus and even XXXX and it appears my request are falling on deaf ears. Please help me remove VERY old late payment DATA from this company as it appears it is being done with ill intent yo prevent me ftom refinancing my home loan to another company with favorable rates and from obtaining favorable employment.
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| 09/14/2016 |
Yes |
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- Loan servicing, payments, escrow account
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Web |
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I had a mortgage with XXXX XXXX XXXX as of XXXX XXXX, 2016 now Penny Mac has the loan. I notified XXXX XXXX XXXX that I wanted to pay {$2000.00} on the principle balance of {$3000.00}, I was inform that it could be done even though I was behind two months. After making the payment on XXXX XXXX, 2016, I notified XXXX XXXX XXXX to verify that the payment had been processed properly, the payment was applied to unapplied funds and sent to Penny Mac ; therefore, I called Penny Mac to inform them of the request to apply the funds to the principle and I was told since the principle was {$3000.00} it could be done so after a few days I called Penny Mac to verify that the {$2000.00} payment had been applied properly but it had not so I spoke to a supervisor ( XXXX ) who attempted to get the amount approved but I was denied the opportunity to pay the loan off as early as possible. The loan would be paid off in two to three months rather than seven to eight, Penny Mac distributed the payment the way they wanted without my knowledge.
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| 06/29/2020 |
Yes |
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- Trouble during payment process
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Web |
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This year, PENNYMAC LOAN SERVICES , LLC made the changes, I pro-actively requested, however, on my XXXX, XXXX mortgage bill and online payment system, they AGAIN revert back to the original old, faulty increased amount which was concurred by PENNYMAC LOAN SERVICES , LLC that they will adjust and reduce.
It is extremely time consuming and painstaking to keep track, reach their representative on phone and request these changes repeatedly.
every year, i call and get the ecrow analysis revised because of errors such as added reserve to escrow etc. I am monitoring, tracking and reporting since XXXX.
since last year PENNYMAC LOAN SERVICES , LLC moved the escrow analysis date and forced me to pay additional amount in their every year increase in the month of XXXX and onwards.
i have to be pro-active to make sure 1. i request escrow analysis 2. PENNYMAC LOAN SERVICES , LLC do not send hard copy of escrow analysis even after i repeatedly requested.
3. i have to find errors and request every year to revise the escrow analysis
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| 10/04/2016 |
Yes |
- Mortgage
- Conventional fixed mortgage
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- Loan servicing, payments, escrow account
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Web |
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I 've had my mortgage with Penny Mac for a few years and have made additional principal payments to bring the principal balance down to below XXXX % original LTV. The PMI disclosure we signed says we can cancel when " the date the principal balance actually reaches XXXX % of the original value of the property. '' Based on the original value of the property, which Penny Mac is using the sales price, we are now below XXXX % LTV. If we used the first appraisal value, it would be even higher. We ordered an appraisal in XX/XX/XXXX through Penny Mac which confirmed our home value increased. There response to me so far has been to deny the request, citing we must have XXXX % LTV of the original value of the home. Our PMI disclosure does n't reference XXXX % LTV at all, and reviewing research on the CFPB web site seems to suggest the XXXX % is an inventor recommendation and should n't be used. Can you please help me clarify? We have met all the conditions needed for PMI to be deleted from our mortgage and continue to get denied.
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| 04/09/2021 |
Yes |
- Mortgage
- Conventional home mortgage
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Web |
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I already have a complaint filed. The company, Penny Mac, specifically their VP called me on Tuesday, XX/XX/XXXX at roughly XXXX est, his name is XXXX XXXX. He indicated he knew about the complaint and blew it off and said, " we get these all the time ''. He also asked me not to file complaints with the CFPB and to only talk to him. I indicated I already tried that for 5 months and can not find resolution and that I will continue to file complaints until they get this done.
I do not believe they should be indicating that complaints are common and that they happen all the time, but he should not be asking me to not work with you.
He tried on several occasions during the call to turn the blame on me where I had to correct him.
I also indicated to him that because of the banks XXXX up, a new appraisal had to be done and this cheated me out of roughly {$100.00} per month due a different appraisal amount impacting the PMI. In addition, I have been paying the old rate for an additional two months I should not have been.
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| 07/11/2020 |
Yes |
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- Trouble during payment process
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Web |
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RE : PennyMac Loan Svc # XXXX XXXX - Escrow Account I requested via phone and via secure message center for my supplemental property taxes to be paid since at loan funding the supplemental property tax amount was calculated, funded and held in the escrow account ( listed on the escrow settlement statement on purchase on home ). I begged them to please pay since the money was in the escrow account. In XX/XX/XXXX I received a secure message that I would hear a resolution with 14 days .... nothing ever came. I ended up incurring late fees on the property tax and paid them out of pocket via credit card which incurred additional fees. Currently in on XX/XX/XXXX, PennyMac decided my Escrow account has too much funds and have mailed a check back to me for over {$6000.00}. I tried a tried to help them realize the money was there but no one cared or listed and now they figure out they have too much money since they didn't pay. I am fed up with this company and I would like my few hundred dollars and penalties and fees back.
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| 04/07/2017 |
Yes |
- Mortgage
- Conventional fixed mortgage
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- Loan servicing, payments, escrow account
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Web |
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PennyMac continues to delay payment of my contract 's invoices. Payment of this invoices is necessary for my contract 's to order supplies and complete the necessary repairs to my home after XXXX XXXX. Over {$100000.00} of damages need repaired before my family can move back into our home. Meanwhile, PennyMac continues to hold over {$100000.00} in their escrow account while it draws interest for them. I have received nothing but difficulty and obstruction fromPennyMac at every turn.
The did send one check for one contractor ... .it was for the wrong contractor AND it was for the wrong amount. I had to overnight the check back to them which had to be " processed for 2-3 days '', then they had to wait for their own check to " clear '' before they could re-issue a new check. But then they said they did n't have all the documents they needed from the right contractor to process the new check ... despite the fact that I have fax confirmation showing the documents they requested had been sent a minimum of 2 times each.
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| 07/19/2017 |
Yes |
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- Struggling to pay mortgage
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Web |
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I am one payment behind as a result of my wife losing her job. I explained this and submitted a request to have the single payment added back on to the end of the loan for two reasons : 1. I can re-enable auto-payments so that I wo n't miss or be late on any payments moving forward. 2. I 'll stop being charged $ XXXX/mo in late fees. The bank offered to let me pay the additional payment over 2 months, which was essentially a denial of the request, since I ca n't do that. I 've just had another late payment, because I was travelling for work without consistent access to the internet, and I could n't schedule the payment to be made. If I had been able to set up auto-pay, the payment would have been made on time, but the bank is essentially preventing me from doing so. This is remarkably frustrating, since it is impacting my credit. I also asked the bank to stop calling, and they continue to do so multiple times per day, even after I explained the situation and requested help. Thank you for reviewing the situation.
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| 11/12/2022 |
Yes |
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- Trouble during payment process
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Web |
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Hello I sold my property located at XXXX XXXX XXXX XXXX NY XXXX back on XX/XX/2022. Weeks Prior to closing I had contacted PennyMac to advise them that I was selling the home and not to pay the school taxes due at the end of XXXX because the new homeowner would be paying them at closing.
Penny Mac however didnt listen and proceeded with paying the school taxes. I have been trying to work with PennyMac now for over a month to get my money back for the taxes that they paid. I confirmed with the school tax office that they sent the check back over a month ago. Penny mac blames it on XXXX, who handles their taxes however this is Penny Macs 3rd party vendor, however they hired them to do this function so its ultimately on Penny Mac to better manage that relationship and figure out what is going on.
Where I moved to was hit directly by Hurricane Ian and therefore I am in a disaster area. We really need our money thats due to us for repairs to our home.
Thank you for your help in resolving this matter.
XXXX XXXX
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| 01/24/2017 |
Yes |
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- Incorrect information on credit report
- Account status
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Web |
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Today I was in contact with PennyMac Loan company can given disturbing information that my loan account was reported past due 30 days for in XXXX or XX/XX/2016. PennyMac is violating FCRA act by reporting my loan last for the XXXX and/or XX/XX/2016 payment. I remitted a payment online on XX/XX/2016 and XX/XX/2016 and the company reported my loan 30 days late to the credit bureau agencies even though the payment was made online prior to. This is the third time the company has reported my loan late and now I am unable to qualify for refinance options as they have reported my loan late. I previously disputed with the that my XX/XX/2016 payment was taken out of my account on and they have not applied my payment in violation of TILA. I am being discriminated against by the company and want them to correct all credit reporting. Please note that if I make a payment on XXXX of each month there should be no adverse credit reporting. I want this matter investigated immediately as I have a already filed a HUD complaint.
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| 12/16/2020 |
Yes |
- Mortgage
- Conventional home mortgage
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Web |
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On XX/XX/XXXX I was charged an application fee of {$100.00} from PennyMac for a home mortgage refinance and given a rate lock for 45 days. I have provided all documents as requested within hours of such request.
On XX/XX/XXXX I was given a closing disclosure that was far from accurate and misrepresented my local property tax amount, tax balance and APR.
I asked for this to be corrected and I have not seen an updated closing disclosure nor do I have closing date. I have also asked for an explanation on why the APR was different and they did not explain it.
I have not heard any updates from PennyMac on where this loan stands and it's been over 75 days from the application submission and nearly a month since the inaccurate loan disclosure was provided. I have provided updated tax information which is publicly available on the county website and updated payoff figures from my mortgage company. PennyMac does not answer its emails and its phone systems continuously ring or go to voicemails that are not setup.
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| 11/26/2018 |
Yes |
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- Trouble during payment process
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Web |
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I have a mortgage with PennyMac and my monthly payment is {$3000.00} my address is XXXX XXXX XXXX XXXX XXXX, MD XXXX, and my name is XXXX XXXX, my phone number is XXXX, e-mail address XXXX On Saturday XX/XX/2018 I received my monthly statement and my XXXX payment was not posted, so today Monday XX/XX/2018 at XXXX XXXX I called PennyMac and I spoke with XXXX to check why my XXXX payment was not posted she said that PennyMac received my XXXX payment after XX/XX/XXXX, I explained to her that I pay through my bank account online every month and I was never late before and if she can give me credit for the late fee of {$89.00} she put me in hold for long time and when she came back on the phone she said that she will not give me the credit, I told her that it is my bank fault and I would like to speak to her manager then she put me on hold again for long time and then I spoke to XXXX the supervisor and she also refuse to give me credit for the late charge which it is my first time with the PennyMac to be late.
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| 11/01/2019 |
Yes |
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- Trouble during payment process
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Web |
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We are having difficulty resolving a XXXX payment made to bring our escrow balance into full reserve. The company, Penny Mac, said they can not find the payment, which we made in the same electronic manner that all our previous house payments were made. We supplied the electronic transaction number on 5 occasions to 2 different people at Penny mac with no result. The officer assigned to us said " we have millions of transactions a day. '' We find this ridiculous. The money left our account ( XXXX XXXX ) and was electronically sent. The money is gone-We have no ability to return the money to our account.
We called XXXX to confirm the delivery-XXXX said the transaction number is proof of the transfer and Penny Mac receiving the money.
This is very disturbing. XXXX is a large sum of money to lose and a bank/mortgage company should never lose money-ever. What if they lost our house payment?
We have run into a brick wall with the resolution of this issue. We need some help.
Thanks, XXXX and XXXX XXXX
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| 01/08/2020 |
Yes |
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
Servicemember |
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PennyMac USA and its loan department talked me into applying for an FHA XXXX loan. I told several representatives for PennyMac that I had credit challenges. I was reassured on several occasions that an FHA XXXX loan is designed to keep consumers with financial problems in their homes and for that reason, your credit rating IS NOT A FACTOR in the loan approval process. So, I relented to their pressure and applied for the FHA XXXX loan and ... ..was denied because of my credit record. PennyMac deceived me intentionally to get me to apply for the loan, PennyMac is correct FHA XXXX loans do not take credit worthiness into consideration because of the very goals of the program. PennyMac lied to me, and it unfairly and illegally denied the XXXX loan.
PennyMac also told me not to make my XXXX payment to instead use that as the downpayment for the FHA XXXX loan, we agreed on payment terms, lengths and amounts. Then they abruptly lie to me and go back on their word.
XXXX XXXX XXXX XXXX XXXX XXXX, Texas XXXX
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| 03/29/2019 |
Yes |
- Mortgage
- Conventional home mortgage
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- Struggling to pay mortgage
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Web |
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PennyMac LN XXXX XXXX XXXX XXXX XXXX XXXX, XXXX XXXX CA XXXX XXXX XXXX XXXX We have had a short sale going on with PennyMac since XX/XX/19. The authorization letters were sent on XX/XX/19 and XX/XX/19. We have spoken to PennyMac multiple times since then via both email and on the phone, and have even received an approval letter for the short sale.
Today we were told by multiple people, even management, that we are not authorized. They refused to speak to us and said we were never authorized.
**HOW is that possible if we received an approval letter and have spoken to PennyMac MULTIPLE times over the last several months??
So. Either PennyMac inappropriately communicated personal financial information to us throughout the entire past few months- including sending an approval letter to us, or they are now lying about our authorization status. Either way, this needs to be resolved immediately.
I want PennyMac fined the maximum of $ XXXX due to their gross incompetence and consistent inconsistency.
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| 10/21/2022 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
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- Improper use of your report
- Reporting company used your report improperly
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Web |
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In accordance with the Fair Credit Reporting act PENNYMAC LOAN SERVICES ACCT # XXXX, has violated my rights.
Under the Cares Act it states, If a consumer was current on payments and made special arrangements ( accomodations ) with the creditor prior to their loan being delinquent, creditors must report the account as current. PennyMac Loan services made special accomodations with me by providing me with a loan modification. While this was processed and approved they reported my loan late for the months of XX/XX/2022 and XX/XX/2022 which according to the laws mentioned above, is illegal and a federal violation as no late payments should have been reported.
15 U.S.C 1681 section 602 A. States I have the right to privacy.
15 U.S.C 1681 Section 604 A Section 2 : It also states a consumer reporting agency can not furnish a account without my written instructions 15 U.S.C 1666B : A creditor may not treat a payment on a credit card account under an open end consumer credit plan as late for any purpose
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| 10/17/2023 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
- Fees charged
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Web |
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My family has had long term financial hardship due to XXXX. XXXX XXXX advised that they can not waive late fees that have already been paid. This is completely unethical because when you go to make a payment online it looks like I have to pay the fee to avoid being reported late on my mortgage. It seems to me they set up the system this way so they dont have to waive fees. This is completely unfair and violates XXXX regulations. I am asking for help in getting these fees waived so we can continue to live in our home. I received a late fee XXXX of XXXX, XXXX of XXXX, XXXX of XXXX, and XXXX of XXXX. The response that they cant wait the fee if its been paid is completely unethical and they should not be allowed to cheat customers this way. The only reason why the late fees were paid because they make it appear that I didnt have a choice or my payment would be reported late to the credit agencies. I am just asking for the ridiculous XXXX fees to be waived. This fee is absorbent and completely unfair.
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| 05/04/2023 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
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- Incorrect information on your report
- Account status incorrect
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Web |
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PennyMac Loan Services LLC reported to the three credit companies a 30 day late/ non payment for the month of XX/XX/2022. While they are in a current dispute. This reporting of a missed/ non payment was falsely reported. because the dispute was sent to and received by PennyMac Loan Services LLC long before the standard, and legal15 day late payment grace period. The dispute was sent out XX/XX/2022 certified mail and was received by PennyMac Loan Services LLC on XXXX XXXX which stop all reporting of any late or missed payments fro that month and moving forward while the dispute is ongoing. Subsequently PennyMac Loan Services LLC hired XXXX XXXX XXXX XXXX. to illegally file a Civil Complaint for a Foreclosure while still dealing with a ongoing unresolved dispute of contract. PennyMac Loan Services LLC has ruined my credit and violated the 15 day late grace rule, They also are practicing abusive and deceptive debt collection, as cited by 15 U.S, Code 1692 ( a ). Also they are in violation of 1006.18
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| 01/29/2018 |
Yes |
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- Trouble during payment process
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Web |
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After researching refinancing options, I realized that I have been paying mortgage insurance for two years when I do not believe I should've been. My boyfriend and I bought our home in XXXX of 2015 and we have made 25 total payments out of our escrow account to mortgage insurance for a total of {$4000.00}.
When we purchased our home, we initially applied for a loan with the intent to put a very small down payment on it but were able to use money from a family trust to put down roughly 35 % of the cost and estimated value of the home. That being said, I realized while researching today that we should not have to be charged mortgage insurance once 20 % of the mortgage is paid off. Since we began our mortgage with more than 20 % of the cost paid in a down payment,. I don't believe we ever should've paid mortgage insurance and if that is the case, I would like to be refunded the {$4000.00} we paid. I also reached out to my mortgage company to see what they can do about it. Thank you for your help.
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| 03/05/2018 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
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- Incorrect information on your report
- Account status incorrect
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Web |
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XXXX XXXX is reporting 180 days late on my XXXX credit report. This account has been paid off however they are reporting 180 days delinquent on mine report and that should be on my Ex husbands report not mine. I have a court signed judgement dated XX/XX/XXXX that states my Ex husband XXXX XXXX is responsible for all the debts of the martial home at XXXX XXXX XXXX XXXX, La. this Judgement was signed prior to the home going into late status XX/XX/XXXX. I have called Pennyman numerous times to ask them to remove this off my Credit. XXXX XXXX XXXX has sent numerous correspondence to them, and i have filed several disputes with the judgement attached and they are refusing to remove it. XXXX has removed this account and it is not showing on XXXX, it is only reporting on XXXX. However this is stopping me from purchasing another home for seven years. This account is pain in full and closed. I am asking for it to be removed off my credit. I was not responsible for the home when it went into late status.
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| 01/11/2021 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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Prior to Covid my escrow balance was in the negative and my mortgage payment went up substantially. A little after COVID hit I had to request a hold on mortgage payments. Once I was able to pay my mortgage again I called and received options. During that time my escrow was still very negative. I advised rep I would send in something to get it down as it was still a struggle to pay the higher mortgage payment. I was not told to do otherwise just list Escrow Payment on my check. On or around XXXX 2020 I called in to be removed from the forbearance program. I advised I could not pay the new mortgage amount due to it being a few hundred dollars more than what I signed up for. In an attempt to get my mortgage payment down I spoke to a rep about paying my escrow balance down. I sent in a payment that specified escrow shortage and it still got applied to the loan itself. I have called multiple times to get it resolved and now being told nothing they can do after speaking to a supervisor.
XXXX XXXX
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| 03/26/2016 |
Yes |
- Mortgage
- Conventional fixed mortgage
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- Settlement process and costs
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Web |
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The purpose of this statement is to complaint about the manner in which Penny Mac handled my foreclosure action. Since XX/XX/2016. I started processing a short sale and advise them of the intention of doing so. I have been in constant communication with them and was submitted and denied, with the suggestion to make a counter offer. Emails have been back and forth, however, they never expressed their intention to foreclose on the property and apparently they have executed the sale, without giving me the chance to dispute their decision. Moreover, they lead to believe that they were acting in good faith as they entertain the Short Sale offers, and corresponded via emails with seemly intentions to fulfill the sale. I would like to have the opportunity to be given the chance to finish the short sale as it would avoid the hurdles that comes with losing a property as a result of a foreclosure action. I would like to have the case reverted and be given the chance to fulfill the short sate at once.
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| 04/24/2019 |
Yes |
- Mortgage
- Other type of mortgage
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- Trouble during payment process
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Web |
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Issue : There are Contingency Funds, which were financed in my XXXX Loan. These Funds were supposed to made available to me. My loan was sold to a servicer. I inquired to the Loan Servicer about these Contingency Funds. And what the process was to use the remaining funds. I was told that I had to have my contractor submit an invoice for the work to be completed. I was never given any additional information on dates or restrictions. After the final draw was sent. I inquired again and then was told that I would not receive the Contingency Funds. As my loan was closed and the money was applied to the principal balance. When reviewing the document I signed. It states that there is a HUD form to be completed. Requesting the Contingency Funds. Any remaining Contingency Funds would be applied to the principal balance. I was 'never ' allotted an opportunity to use these funds. Nor was I advised of the required HUD document when I inquired about the process. I was provided inaccurate information.
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| 09/13/2023 |
Yes |
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- Struggling to pay mortgage
- Foreclosure
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Web |
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PennyMac has foreclosure on my house XXXX XXXX after I made several attempts to bring account to date. I received no court papers of foreclosure just phone calls. PennyMac is the servicer and not the owner. Please advise. On XXXX XXXX my daughter sent a wire transfer to PennyMac for {$14000.00} they kept saying they never receive the funds but XXXX XXXX said they did it was several conversations back and forth so they said the funds when somewhere else. I got the correct information my daughter sent another wire transfer from XXXX XXXX they stated they never received the payment. I didnt understand that because my daughter did a {$16000.00}. Wire transfer to PennyMac XXXX of XXXX and they receive the money. PennyMac also had a lien on the house {$37000.00} which was paid you can see on the monthly statement but they still put {$30000.00} like the lien wasnt paid add the balance of the house up more the balance is incorrect. PennyMac abuse there power and took advantage of the situation.
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| 04/17/2019 |
Yes |
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- Trouble during payment process
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Web |
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On XX/XX/XXXX PennyMac assumed possession of my loan from our prior servicer. We had a large loss draft pending on the property and PennyMac has created an undue hardship on us due to their lack of transparency and unwillingness to help. Ever since they assumed possession of our loan, they have continued to claim that they do not have certain documents that they should have easily been provided by the prior servicer. It is not our responsibility to secure these documents for them as we did not choose to have a new servicer take over a loan with a large loss draft pending.
I have called every 2 days since XX/XX/XXXX asking why I can not receive the final disbursement to settle this loss draft claim ( btw our house was completely lost in a house fire on XX/XX/XXXX ). Finally today, this company once again said they needed additional documents and I am baffled as to why they continue to play these games with the money sitting in our escrow account that is now past due to the homebuilder.
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| 01/10/2022 |
Yes |
- Mortgage
- Conventional home mortgage
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- Struggling to pay mortgage
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Web |
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I use PennyMac for my home loan, account XXXX. During the pandemic, I opted for mortgage relief in the form of forbearance. This lasted for approx. 15 months. Each month, I would check in and verify that the forbearance was still needed. The approximate unpaid mortgage at the time that the account entered forbearance was XXXX. Once my finances were back in order, I opted to defer these payments to the end of the mortgage. Undenounced to me, during this time I was incurring debt with PennyMac. These fees and/or interest was never discussed, authorized, or disclosed to me in any way ( again, I checked in at least 15 times where this was never brought to my attention ). At the conclusion of the forbearance, PennyMac shows that I owe approx. XXXX on the loan. I believe this XXXX XXXX dollars was added to my account under false pretense, without my knowledge or authorization. I called the company and spoke to a representative who said I was still collecting interest during the forbearance.
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| 12/31/2019 |
Yes |
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- Struggling to pay mortgage
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Web |
Servicemember |
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I am a VA XXXX VET and requested a home loan modification or possible payment assistance arrangement from my mortgage servicer, PennyMac Loan Servicing LLC., as I am now in a better financial situation, as I've fallen delinquent with my mortgage payments. I faxed and emailed, all of the known application documents in which would be requested on XX/XX/XXXX, to PennyMac in hopes that the paperwork would appear in their servicing system by today, Monday, XX/XX/2019. In following up with their Loss Mitigation Dept. I was advised that the paperwork can take up to 48 hours to image through.
My auction date is scheduled on XX/XX/XXXX. I understand in reading the PennyMac website, application for loss mitigation options must be received by no less than 7 business day. Today would be my deadline to send documents within their servicing system. I dont belive it is fair that I've faxed in the paperwork and then being told they cant get to it till days in, when an auction date is 9 days away.
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| 09/20/2022 |
Yes |
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- Struggling to pay mortgage
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Web |
Servicemember |
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The Coronavirus Aid, Relief, and Economic Security Act ( CARES Act ), Pub. L. 116-136 ( CARES Act ), An accommodation includes any payment assistance or relief granted to a consumer who is affected by the COVID-19 pandemic during the period from XX/XX/2020, until 120 days after the termination of the COVID-19 national emergency declared by the President on XX/XX/2020 under the National Emergencies Act.1 Such an accommodation includes, for example, agreements to defer one or more payments, make a partial payment, forbear any delinquent amounts, or modify a loan or contract.2 An accommodation includes assistance or relief that is granted voluntarily or pursuant to a statutory or regulatory requirement.
*I was on a Covid 19 Forbearance Plan, and was never late on payments. I am now out of forbearance and mortgage is in good standing. I was given an accommodations, and as a result I can not have any negative effects on my credit. This is preventing me from pursuing any type of loans.
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| 12/14/2018 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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I contacted 3 individuals at Pannymac today. XX/XX/2018 - 2 Customer service agents and a Team Leader.
My request was simple. To get a mortgage property tax exception in the state of Indiana you must file that a mortgage exist with the county recorder. Pennymac claims that they do not file mortgages with the county. They only pay taxes on the mortgage through 'XXXX '. Without this filing I can not get a Mortgage exception property tax reduction in the state of Indiana.
Funny thing - the county recorder ( I talked with them 3 times ) said that if there is no mortgage filed - I can sell the house and the title company will find NO MORTGAGE on the house. Thus - I can keep every cent.
Further - all they emphasize is that they are also a loan collector and anything you say can be used to collect monies.
Funny thing. When you look up their executives on XXXX all of their contact are locked so you can't send messages. This should be a HUGE WARNING of what they think of customers.
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| 04/01/2016 |
Yes |
- Mortgage
- Conventional fixed mortgage
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- Loan modification,collection,foreclosure
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Web |
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BPO was completed on property that we are working on a short sale on - the lender 's BPO came back extremely over valued so we completed a value dispute. Our value dispute is attached as XXXX and " Seller Report.pdf '' I have also attached the e-mail chain to the manager XXXX XXXX, I 've been trying to get him to respond since XXXX XXXX and I 've sent XXXX e-mails without a response at this time. The last response we got was on XXXX XXXX where we were told that they disagreed with our value dispute and would only offer a deed in lieu because of the condition of the property.
The condition of the property would be irrelevant if we already have a buyer for the property who is willing to accept the condition of the property. The BPO was proven to be inaccurate and incomplete per our value dispute but they will not adjust the value. They have told us that even though the BPO was " incorrect '' that does not effect the value of the BPO - which just ca n't be true based on our dispute.
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| 12/15/2022 |
Yes |
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- Trouble during payment process
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Web |
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I have repeatedly contacted PennyMac requesting an explanation for inaccurate info listed on past payment breakdown sheet and mortgage statement. PennyMac will simply not respond and furthermore can not explain why they are showing XXXX in fees on the past payment breakdown and XXXX fees on my mortgage statement.
Please be advised that the XXXX is actually escrow and the XXXX is actually a refund from this past XXXX when a double payment was mistakenly made. This inaccurate reporting of information is making it impossible for me to get a Home Equity Line of credit through XXXX XXXX
PennyMac has refused to give me a letter of explanation to give to the bank and has refused to correct information on their part.
Instead, they tell me that I can just get a HELOC through PennyMac. Sadly, I think this is being done on purpose and I am greatly concerned as the numbers, per XXXX XXXX, do not add up correctly when looking at past payment breakdown sheet. Please help me get this fixed.
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| 03/05/2019 |
Yes |
|
- Trouble during payment process
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Web |
Servicemember |
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XXXX XXXX XXXX is my mortgage lender. I'm owed over 900 dollars in Escrow Refund and supposed a check was sent XXXX XX/XX/ 2019. ( It is now XXXX XX/XX/ 2019 ). I was instructed to wait 14 business days to receive a " Paper Check ''. Even though I electronically debit my mortgage bill every month. Even after I complained I got a message to wait 14 business days after waiting 14 business day.
I've sent multiple follow up messages and get ignored. Also I tried to call the message said " call back later we're busy ''.
This is very shady because they collect taxes from my county. I have a homestead exemption with the county and feel like they are committing fraud and not servicing my loan properly. I have no recourse when they raise my escrow payments, like they did last year and now they have to refund me because I have been overpaying.
Instead of getting some robot voice, or trained sea animal to respond to my messages I will hold them accountable and submit this complaint.
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| 02/26/2018 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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My mortgage is owned by XXXX XXXX. I make automatic payments via my checking account evey XXXX weeks, so I actually pay a month in advance. ( 1 ) In XXXX, 2017, I noticed an increased amount taken from my account. When I called to inquire, I was told it was because of taxes and shortage in escrow ; when asked what would have happened had I not had extra money in the account, the rep said they would have reimbursed me the overdraft fees. ( 2 ) I get the increased escrow note in XXXX, with a date of XXXX XXXX - I call to get an understanding, get the shortage in escrow story and decide to pay the escrow to keep my bi-monthly payments low. Since XXXX, no withdrawal from my account has been the same. I call XXXX XXXX, speak with a representative and nothing changes. The last representation told me she would escalate my case and monitor it to make sure the correct amount comes out ; yesterday, still an increase. Who do I hold accountable - how do I get compensated? When does it stop?
|
| 08/02/2018 |
Yes |
- Mortgage
- Conventional home mortgage
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- Applying for a mortgage or refinancing an existing mortgage
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|
Web |
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I, XXXX XXXX, have a loan with PENNYMAC LOAN SERVICES, LLC which appears that XXXX XXXX owns this loan. The address of the property is XXXX XXXX XXXX XXXX XXXX, NV XXXX. I have been paying {$49.00} for Private Mortgage Insurance every month since I bought the property in XX/XX/2014. My estimated loan balance is {$100000.00} and the estimated value of the property according to XXXX is {$210000.00} and according to PennyMac Loan Services, LLC Home Value Estimator website is {$210000.00}. I know that under the Homeowners Protection Act, a lender must cancel the PMI when the loan-to-value ratio on the mortgage reaches 80 % or when we have at least 20 % equity in the house which I belive I do. I have called PennyMac several times and they refuse to remove the PMI and they claim they dont have an Auto Termination Date for the PMI on my account. I have asked for the Auto Termination Date but PennyMac does not have one in my loan file. I need to know if you can help me with this issue?
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| 02/01/2019 |
Yes |
|
- Trouble during payment process
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|
Web |
Servicemember |
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I initially had my home loan with XXXX XXXX XXXX XXXX who never had any trouble assessing property tax. My loan is impounded so the tax should be collected each month. They did not require money from me at the end of the year and in fact I received an escrow check. When the loan was purchased by Penny Mac they could see what I paid in property tax. Last year they asked for money to cover a shortage and if I could not do this they would spread the amount over the next 12 months. This results in me paying more interest on a loan that will each year have a higher payment because they either can not figure out property tax or are purposely engaging in unethical business practices. I have spoken with them before about this as well as emailed them last year. I as a single consumer can not fight an unethical or incompetent company please advocate for me as I am on a fixed budget. My sole income is XXXX and this company infuriates me and causes me unneeded worry.
Sincerely, XXXX XXXX
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| 08/19/2016 |
Yes |
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- Loan modification,collection,foreclosure
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|
Web |
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My payment went from XXXX $ to XXXX $ in one month. They claimed it was an escrow analysis and said my insurance rate doubled. So I asked what would bring my payment back down. They said if I could change insurance. I changed from XXXX to XXXX insurance. My old insurance was around XXXX $ while my new insurance is XXXX . I had been told this would bring my monthly payment down. I just filed for a new escrow analysis and my monthly payment is now XXXX . I asked why and they keep saying my escrow is in a negative. My escrow was ( XXXX $ something ) before I switched insurance. It is now XXXX $ I do not understand how my mortgage can INCREASE after I paid off some of the escrow. I also have some phone recordings with my stating and them verifying this should lower my payment..
I have included XXXX phone recordings that show the entire intention of me doing this was to lower my monthly payment. I make mention a few times about how my account increased and I want it to decrease.
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| 04/24/2019 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Struggling to pay mortgage
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Web |
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we have tried to work with Pennymac since 2013, upon my father in laws death. Pennymac has refused to assist us in this matter and had my husband sign what I believe to be a predatory loan modification and lied about origination dates. We asked that the loan be moved into my husbands name originally and they stated that that could not do that even though probate had closed. I am perplexed as to why they are able to operate like this my husband has been asked to complete several forms and also has to have them all notarized for them to speak with me yet they never seem to have the form available to be viewed or request another one.. My husband is permanently XXXX and we are trying to keep this him. this all stated with a predatory loan for a construction project that has yet to be completed and the company attached the entire bill to our property taxes. I have tried to resolve this many ways and its just wont work I am in need of assistance to resolve this matter, thank you
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| 02/16/2017 |
Yes |
- Mortgage
- Conventional fixed mortgage
|
- Loan servicing, payments, escrow account
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|
Web |
Servicemember |
|
Attempting to get PMI removed from a PennyMac USA loan. At first I attempted to get PMI removed when the loan first reached 80 %. They ( in their right ) told me I needed to get an appraiser to confirm the property had not lost value. I think just a XXXX or XXXX search of the area should have been good enough but they requested an appraiser. I was used to good lenders which automatically terminated on request at 80 % since they new of market values. So now my loan has currently reached 77.9 % LTV and I requested termination but they are telling me I still need and appraisal. They are also telling me that I need to wait until 75 % LTV. I have asked them where that is listed as I do n't see it anywhere in the Homeowners Protection act or on the Consumer Financial Protection website. If contacted I can attach a word document that lists the E-mail exchange between PennyMac and myself in XXXX short pages so there will be no misrepresentation on what was said. Thanks, XXXX XXXX
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| 10/25/2017 |
Yes |
|
- Incorrect information on your report
- Account information incorrect
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|
Web |
Servicemember |
|
To whom may I concern.
Around XXXX 2015 I got behind in my mortgage payment do to a laid off work. I was trying to have my lender to help me with the late payment witch they did, but it was one late payment, they did refinance the loan and put the payment to the loan. and it was a first tryout for Three months until the process was done..
But my problem with the lender is they keep reporting late every month for the time of the process begin until the new loan started, now I carry almost six late moths in my credit report, I cant get them to change that information, they just wont do anything else I have no other options but just keep with anger and frustration with my lender company with is PennyMac ...
is hard to get a reasonable loans with options of higher interest rates, thanks to that.
I wander if is anything the I can do to have my lender stop reporting inaccurate information, or if the information is accurate if so, how can I fix that in my credit report.
|
| 06/08/2016 |
Yes |
|
- Taking/threatening an illegal action
- Seized/Attempted to seize property
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|
Web |
Older American |
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We have learned that XXXX acquired the banks but it was not a " Merger '' so therefore this was not a XXXX XXXX XXXX. When XXXX collapsed, XXXX XXXX became the servicer. When we made queries about the new owner, XXXX XXXX claimed that they purchased the loan however they did not provide verification. They sued us and said they sold the mortgage to Pennymac XXXX, who we found out was another debt collector. We wrote to them to verify some information and the collusion and fraudulent documents continued. Pennymac then flipped it to another subsidiary of their company. When we called the FDIC and the OCC, they both referred us to CFPB because this is all debt collection. Additionally, we learned that XXXX XXXX Bank XXXX ceased to exist XXXX XXXX, 2005 however our mortgage was made in XXXX 2005. Our daughter worked for XXXX and XXXX and she continued to make these mortgages and no one ever told her that the company was no longer in existence. Please see our attached report
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| 08/12/2022 |
Yes |
|
- Trouble during payment process
|
|
Web |
Servicemember |
|
I was approved by the Homeowner 's Assistance Fund ( HAF ) in Florida for forward mortgage payments. I also had difficulties because of XXXX last year and I had to put the past due at the back of my mortgage. Well HAF sent a check to Pennymac for {$18000.00} on XXXX and another payment for {$2100.00} on XXXX to cover my payment for XX/XX/XXXX. Well they received and documented the back pay of {$18000.00} but they have yet to apply the {$2100.00} payment for XXXX. I need this applied to my account ASAP. The sent me a letter indicating that my assistance was funded and over and it hasn't been because I will still receive 10 monthly mortgage payments of {$2100.00}.
Also in XXXX, we were severely ill with XXXX. XXXX put me in a forbearance and assured me that they would take the late payment for XX/XX/XXXX and report it as NOT late. I have been on the phone continuously with them to rectify the situation and it still is showing late on my credit reports for XX/XX/XXXX.
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| 03/01/2018 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
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Web |
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In XX/XX/2018 I received a letter from Pennymac stating our monthly payments would go up due to a shortage in our escrow account. The letter stated to tear off the bottom of the letter and send a check for almost 2000.00 in order for the monthly payment to stay the same. I tore off the coupon, wrote a check and sent it in. Since then the money went into the account but not toward principle / interest and not toward escrow. I have called 3 times, spoke to supervisors, was promised call backs I never got. My money is not in my account, my payments did not go down and I feel like this company does not know what they are doing. I want my account to now be audited for miscalculated overcharged interest as well as for mistakes on their part. I want my escrow money deposited into my escrow account and my payment reduced. I am attaching a cashed check that shows it was written XX/XX/18 and deposited in early XX/XX/XXXX. It is now XX/XX/18 and my account needs to be corrected.
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| 06/27/2017 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
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|
XXXX XXXX XXXX charged me a fee to set up and have what they sold to be bi-weekly payments made to my lender. They were to take out 1/2 the mortgage amount every other week on dates I specified, and pay my lender twice per month. This was part of their " Interest Minimizer '' program. I found that 1-they only made one payment per month -- whatever was the amount due and 2-they paid by paper check, which my lender did not accept. This caused the lender to continuously report that I was behind on the mortgage. I cancelled my " membership '' with XXXX XXXX when I found this out. I have since found that there is a lawsuit against this company, and hundreds of other consumer complaints. Links to the articles are here : XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX I am still receiving letters in the mail and phone calls from this company inviting me back. Meanwhile, my credit report is a mess and I can not get a loan for a car. Mortgage company is PennyMac.
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| 03/26/2022 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
Servicemember |
|
I logged in to make my monthly payment a few weeks ago ( XX/XX/XXXX scheduled payment ) and there was a error with my bank and the payment was returned. I immediately logged back in to PennyMac, and made a new payment which was successful. ( XX/XX/XXXX ) After the successful payment, PennyMac tried to debit my account two more times ( XXXX and XXXX ) for the XXXX payment- which they already had. As a result, I have 2 NSF fees on my account from my bank ( the bank already acknowledge their initial error and refunded my initial fee for the returned payment. That is not what this complaint is about ).
There is no reason for PennyMac to try and process my monthly payment AFTER they already received it. Certainly no reason to do it twice. As a result, I have {$58.00} in NSF fees with my bank which would not have occurred without Pennymac 's error.
I already tried to resolve with the company, and the rep doesn't even understand what the problem is, so I'm escalating.
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| 10/13/2022 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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We are an authorized 3rd Party ; We are the Escrow/Title Company that handled the sale, and are responsible for making sure the Release of Lien is filed and done so correctly.
We issued a payoff to PennyMac on XX/XX/XXXX, to pay off the existing mortgage with them. The home was sold. On XX/XX/XXXX, I began communicating with PennyMac regarding the Release of Lien. The Release was recorded on XX/XX/XXXX, but it was filed under the wrong Document Number. The correct Document Number is XXXX. PennyMac filed the Release under XXXX. I sent PennyMac the fully executed 3rd Party Authorization on XX/XX/XXXX. I have continued to follow up with PennyMac on the following dates-XXXX XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX. The continue to tell me they don't have 3rd Party Authorization. The Release of Lien needs to be corrected and filed under the correct Document Number. The lien is still showing up on title as being open, and is causing a cloud on title.
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| 07/12/2022 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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XXXX XXXX XXXX I closed a loan for {$200000.00} with PennyMac on XXXX XXXX.
Today I spoke with five persons at PennyMac in an attempt to obtain information about the disbursements of funds to pay off debt from my loan with PennyMac.
None of the representatives that I spoke with were able to provide the information. Ispoke with was XXXX XXXX XXXX XXXX XXXX. I requested to speak with his manager but was left on hold for several minutes. The call ended without anyone returning. XXXX called back. But again, the call was left on hold for XXXX minutes until XXXX came on the call. XXXX indicated that she would escalate the request. Instead, she transferred the call to a loan processor named XXXX. The call later disconnected while speaking with XXXX. XXXX never called back.
The loan had a disbursement date of XX/XX/2022. The payoff of {$120000.00} in debt to creditors has not occurred and PennyMac has not provided any information about when the payoffs will happen.
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| 07/11/2017 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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I had mailed on XX/XX/XXXX, in the amount of {$240.00}, for the house payment, without their statement and their envelope, which I had not received. Enclosed in the envelope was a note and my check number XXXX. Today, I called their call center and a XXXX indicated that my check has not been received and had the audacity to say that all of my correspondence keeps being returned from the Post Office, which is a lie! They offer no remorse. Here we go again, another game play from these people. This has been happening since, XX/XX/XXXX. No matter how nice I am to these people, they are always playing games. These employees are playing with my money and a possible foreclosure, due to their irresponsibility and failure to take action. Their business practices are not professional, nor compassionate. Their actions are not, as such, unprofessional. I have never received an apology for any of their negative comments, nor action to offer to assist me on anything.
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| 06/07/2023 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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The mortgage servicer, PennyMac, has added a flood insurance policy to my account. I have provided documentation from FEMA declaring the property is NOT in a flood zone. TXXXX XXXX XXXX XXXX XXXX XXXX XXXX ) dated XX/XX/XXXX specifically states under the Legal Property Description section that the determination removed the property from XXXX XXXX XXXX ( flood insurance required ) XXXX XXXX XXXX ( flood insurance not required ) and supersedes " all previous determinations, '' and in doing so retroactively corrects the prior flood zone determination of XX/XX/XXXX. I have submitted this documentation three times through their required channels. It is impossible to speak with someone knowledgeable, and I received only one call back where I was told this is an old letter from XXXX of XXXX and is not current or acceptable. It is clearly dated on top as of XX/XX/XXXX.
The insurance policy must immediately be removed from my account and funds refunded to escrow..
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| 06/04/2021 |
Yes |
- Mortgage
- Conventional home mortgage
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
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Submitted a loan application with the 6 pieces of information for XXXX with Pennymac. The loan officer called me from XXXX XXXX XXXX and said his name was XXXX XXXX XXXX XXXX XXXX. He has what my credit score was, I told him I was not sure and I gave him verbal permission over the phone to pull my credit and he told me to go to XXXX. I explained I had already done that and those scores are usually 10-20 points higher than the XXXX XXXX credit report mortgage companies use to make a credit decision. He put me on hold when I asked him to pull my credit for 10 minutes, came back and still had not pulled my credit and again told me to go to XXXX. Pennymac is my current mortgage lender and I was trying to refinance my home thru them. I asked for his name and number and the information on him was not valid, I asked for his supervisor and it took him a few minutes to get me that and was was told XXXX XXXX XXXX XXXX XXXX and I called that number and it is not valid.
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| 05/12/2023 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
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- Improper use of your report
- Reporting company used your report improperly
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Web |
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This complaint is in response to a copy of my most recent consumer reports from XXXX, XXXX, and XXXX. I noticed that PennyMac Loan Services/PennyMac Financial Services are reporting nonpublic financial transactions information on my consumer report. I did not give any of the aforementioned companies written permission to report this information. I want the following account 's transactional information removed from my consumer report immediately. 15 U.S. Code 1681c states no adverse information to be reported on my consumer report. 15 U.S. Code 1681b ( 2 ) states that ( 2 ) In accordance with the written instructions of the consumer to whom it relates. I would like to see the written permission with my wet signature from the companies authorizing them to report this account 's information. 15 U.S. Code 6802 ( b ) - Opt Out, states I have the right to opt out and exercise my right to nondisclosure of my information.
Pennymac Loan Services , LLC Acct # XXXX
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| 09/28/2020 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
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- Problem with a credit reporting company's investigation into an existing problem
- Their investigation did not fix an error on your report
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Web |
Servicemember |
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My VA home mortgage with PennyMac was placed in forbearance under Covid-19 relief back in XXXX. The forbearance was for 3 months, so I began paying the mortgage at the beginning of XXXX. At that point, PennyMac had informed me of a loan modification, which would require 3 months of trial mortgage payments. After making two of the 3 trial payments, I started looking to refinance another mortgage. However, on XX/XX/XXXX, my credit monitoring highlighted that PennyMac reported my account in default even though I was paying according to the trial. This has caused me to be unable to move forward with refinancing my existing mortgage to a lower rate. The undue stress caused by this process has yet to be resolved, as the credit reporting agencies still show my PennyMac account as being overdue/late and hence the impact to my credit score is significantly negative.
I need this issue resolved quickly, as rates may go up by as much as .5 pt in the next week or so.
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| 01/12/2021 |
Yes |
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
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Please look into lenders. I would like you to look into how lenders are boxing out low income families during this period of low rate mortgages. Lenders are being listed as FHA lenders who should only require a XXXX XXXX of XXXX. However, lenders like Pennymac Loan Services and several others have raised their requirement to XXXX despite the FHA requirement. Other lenders, per a XXXX XXXX XXXX, have raised their requirement to as high as XXXX. This is a personal affront to families trying to take advantage of the low mortgage rates who may not meet the conventional standard. These lenders are using conventional standards for FHA loans. They should not be allowed to use FHA standards to advertise or lore in consumers. This is not fair to families who would be able to own their homes under the FHA guidelines. They are now being boxed out of the market. Shame on XXXX and many other lenders. During this time of hardship, to be adding more hardship so freely.
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| 06/03/2021 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
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Web |
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PennyMac is my mortgage servicer. I am obliged to have an escrow with them so they are supposed to handle paying my homeowners insurance and taxes. They failed to pay my insurance premium claiming that they had a problem with the payment. They failed to notify me of this problem until after my insurance expired, opting to mail me a letter after the expiration date of my insurance plan. They then put force placed insurance on my home. Upon receiving notice I promptly resolved their problem for them. I believe that I have been wronged. The servicer must send the first notice at least 45 days before purchasing a force-placed insurance policy. The servicer must then send a second noticea reminder noticeno earlier than 30 days after the first notice and at least 15 days before charging the borrower for force-placed insurance coverage. This notice must include the cost of the force-placed insurance or a reasonable estimate of the cost. ( 12 C.F.R. 1024.37 ).
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| 01/06/2023 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
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Web |
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On XX/XX/2021 I closed on a new home in XXXX XXXX, MD. Pennymac mortgage took possession of our mortgage. They also held the Seller of the homes mortgage. The State of Maryland sent a property tax bill in the amount of {$4200.00} to PennyMac mortgage in XXXX of 2021. This bill was the seller 's responsibility to pay as they covered months the seller was in possession of the home. However, Pennymac paid this bill and charged my family for it. The title company was not aware that the property taxes were paid from my account and refunded any money held for property taxes from the seller. Pennymac mortgage is holding me responsible for this error and has gone up on my mortgage substantially to cover the cost of someone else 's tax bill. This is causing an extreme hardship for my family as our mortgage is already substantial. Pennymac should not hold me and my family accountable for someone else 's bill. They have also explained this will impact my credit.
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| 01/09/2020 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
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Web |
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On XX/XX/2019 I requested an escrow analysis with PennyMac because I was fully aware that I had a surplus of {$2600.00} in my escrow account. PennyMac completed an escrow analysis on XXXX XXXX and has issued a check to me in the amount of {$650.00} leaving my escrow account with a surplus balance of {$1900.00}.
In accordance with 12 CFR Part 1024 - Real Estate Settlement Procedures Act ( Regulation X ) 1024.17 Escrow accounts. ( 2 ) Surpluses. ( i ) If an escrow account analysis discloses a surplus, the servicer shall, within 30 days from the date of the analysis, refund the surplus to the borrower if the surplus is greater than or equal to 50 dollars ( {$50.00} ). If the surplus is less than 50 dollars ( {$50.00} ), the servicer may refund such amount to the borrower, or credit such amount against the next year 's escrow payments.
My original loan contract signed at closing and the state of Texas does not require me to leave a surplus in escrow.
|
| 02/09/2017 |
Yes |
|
- Loan servicing, payments, escrow account
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|
Web |
Servicemember |
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I am submitting a formal complaint against my mortgage company Pennymac for false claims that I owe them personal property tax that was already paid from my escrow account last year. Per my tax return statement from Pennymac & XXXX was paid in personal property tax to the county and I had an ending balance of {$810.00} in my escrow. I had no negative balance reported. So it is no way I owe them money and there were no double payments made as they are claiming. My mortgage payments were XXXX, which includes the escrow amount. Now they are charging me {$3600.00}, which they providing a false explanation that my taxes went up to {$11000.00}, which my documentation from them and the county does not support. I was told that they are looking into this, but they already have the documentation from the county along with the information they sent to me. I feel like I am being scammed out of my money and I want it refunded and my account to be updated correcly.
|
| 09/01/2022 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
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Web |
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I have a conventional mortgage with Pennymac Loan Services. My mortgage balance had fallen below 78 % more than 3 months ago but I am still being required to pay the PMI.
Loan origination date : XX/XX/XXXX Original LTV : 81.8 % Current LTV : XXXX The estimated scheduled date to reach 78 % is XX/XX/XXXX Current on payments ( never late ) I made some extra payments to my principal after a call with the mortgage company on XX/XX/XXXX after they told me that payment will terminate the PMI, which it did not.
I contacted the company 's Escrow department today and was told that according to the closing disclosure 's projected payment section, I will need to pay PMI for three years in total. The 78 % or originally scheduled date for 78 % LTV will not terminate my PMI.
One option I was given was to pay a one-time fee of {$100.00} to perform an appraisal to check if I qualify for PMI deletion. They mentioned that appraisal will cost between $ XXXX $ XXXX.
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| 02/25/2022 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
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Web |
|
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I would like to reopen or at least reference Case ID XXXX.
I have received no monetary compensation from this company for there predatory and misleading practices.
Since opening the last case I have been working with XXXX XXXX phone XXXX EXT XXXX we agreed they would wave the inspection fee with the condition that they stopped providing misleading information about removing PMI.
However, In the last month alone I have received two more calls where I was advised by PennyMac representatives that I can remove my PMI based on current market value.
XX/XX/2022 - XXXX advised house is apprising at {$490000.00} on XXXX and I can remove my PMI without refinancing.
XXXX XXXX XXXX again advised I can remove my PMI based on current market value.
The company continues to provide unsolicited misleading offers about removing PMIs and then decline to honor those offers. This is misleading and predatorily as they stand to gain monetarily and informationily.
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| 10/14/2018 |
Yes |
|
- Trouble during payment process
|
|
Web |
Servicemember |
|
In XX/XX/2018, I made a Principal payment to the loan. This was after the auto-paid monthly payment was processed. PENNYMAC took out a second interest and escrow payment. I called, emailed and send a letter to the PM offices. It took some time but it was fixed and confirmed, finally, after the next months regular payment.
T ensure PM could not misunderstand my intentions I sent a USPS Priority Mail envelope with two checks and a very specific letter inside with details on applying payments to Principal and what the final Principal amount would be after payment was applied.
They did it again, diverted Principal payment to interest and escrow. I can't tell if this is incompetence or corruption but I need this fixed and the funds applied as intended. Banking reform and consumer protection doesn't seem to stop these folks from trying to nickel and dime folks. I have all the documents and will attach them if that is included with this submission page.
|
| 10/09/2020 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
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Web |
|
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I recently made a mortgage loan through XXXX XXXX XXXX, in Utah, USA. I've received a letter from PennyMac stating they had bought the mortgage servicing rights, and demanding payment. I am unfamiliar with this company. I called PennyMac requesting verification that they do in fact own the servicing rights, which they refused to provide. The letter sent does not include the required disclosures of 12 CFR Part 1026.39, specifically : 1. 1026.39 ( d ) ( 3 ) The name, address and telephone number of an agent or party authorized to receive notice of the right to rescind and resolve issues concerning the consumer 's payments on the loan.
2. 1026.39 ( d ) ( 4 ) Where transfer of ownership of the debt to the covered person is or may be recorded in public records, or, alternatively, that the transfer of ownership has not been recorded in public records at the time the disclosure is provided.
I have no way to verify whether this is legitimate or a scam.
|
| 10/30/2018 |
Yes |
|
- Applying for a mortgage or refinancing an existing mortgage
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Web |
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While refinancing my loan back in XX/XX/2016, I had a long conversation with PennyMac Loan officer XXXX, regarding my PMI while refinancing, I asked when it would fall off, how it works and everything like that. A year later while talking with PennyMac they stated that my PMI is for the life of the loan. This is NOT what I was told from XXXX XXXX Loan officer # XXXX, we had a conversation specifically about the PMI. I would have never signed this knowing that when we had verbal over the phone communication regarding this. I have since complained to PennyMac and have gotten nowhere. They're actually the ones that referred me here to make a complaint. Customer service can't help me on their end, neither can managers of loan officers or managers of service. I am getting no where and was given misleading information, basically flat out lies. Please help me resolve my issue. Please pull the phone calls, I have asked PennyMac multiple times and they wont
|
| 01/31/2023 |
Yes |
|
- Struggling to pay mortgage
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|
Web |
Older American, Servicemember |
|
Greetings, My name is XXXX XXXX XXXX ; and I work as the XXXX XXXX XXXX for XXXX XXXX XXXX XXXX XXXX XXXX XXXX I'm assisting a XXXX with a loan modification and worked very hard to fax the documents to PennyMac before the XXXX of the foreclosure. Unfortunately, PennyMac gave me 4 different fax numbers which were busy. Today, I was able to reach their Escalation Team and spoke to XXXX who walked me through uploading the documents through their portal, which she stated is her company 's preference. I'm very disappointed with the customer service of PennyMac because each time I called them to either get another fax # or check on their fax machine, the customer rep said it must be my problem. I went to XXXX different locations to fax to the following numbers XXXX, XXXX, XXXX, & XXXX to no avail.
I'm disappointed that a company as large as PennyMac does not have adequate electronic services to handle the financial requests made by their Homeowners.
|
| 03/22/2021 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Applying for a mortgage or refinancing an existing mortgage
|
|
Web |
|
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I spoke to a representative XXXX XXXX from penny mac. This is in regards to refinance of my current mortgage that I have with Pennymac. We began to speak in XXXX. I was directly stated that if there was no chance or poor possibility please dont waste my time. I handed him all my credentials and he assured me all will be good. I was then referred to another representative XXXX. My mortgage was on hold but when I spoke to XXXX after weeks of him not getting back to me he assured me again we were fine. I was never able to communicate with XXXX he didnt respond to my calls or my messages. He finally asked for more information that was requested. I sent it within 24 hours. He never communicated after that. I found out through a web page I was denied. After more than 2 months of assurance this was not supposed to happen. I was completely honest and there was no surprises at my end. This man was pulling me along and now rates have risen significantly.
|
| 12/14/2018 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Struggling to pay mortgage
|
|
Web |
|
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I submitted a request to Penny mac in XXXX for a loan modification. This was my first attempt at loss mit and I had a period of unemployment before I started a new job. They immediately denied me for not being eligible until the I had the loan at least 12 months. I called them and they told me to reapply after XX/XX/18. I submitted a request towards the end of last month and they sent me a letter stating they were reviewing it and would reach out for any additional items needed. This is my first home, my first eligible attempt at a loan mod, and my loan was not yet in FCL. XX/XX/18 they sent me a letter with the same denial reason but I have had my loan more than a year and I was following their guidance they gave me in XXXX. I also just received a FCL notice from an attorney dated XX/XX/18 stating my home is now in FCL. It seems like they gave me wrong information in order to put me in a position where they can FCL on my home. Please help me.
|
| 09/18/2015 |
Yes |
|
- Loan servicing, payments, escrow account
|
|
Web |
|
|
My wife and I purchased a home in XXXX 2012 with an FHA loan through PennyMac. We have been paying PMI as required, but recently requested termination of the PMI due to significant increases in property value. The first request was denied about 8 months ago and we recently submitted a second request. I believe our loan docs state that PMI is to be carried for at least 5 years, however, everything I have seen shows if the home value does not exceed 78 % of initial loan amount then PMI is not required. I have also read that upon request of termination of PMI PennyMac could request an appraisal on our property. We would be happy to pay for an appraisal and feel our property far exceeds the loan to value ratio. Our loan amount was for {$160000.00} and similar homes in our neighborhood are selling for well over $ XXXX. Any information or effort you can make in resolving this matter would be greatly appreciated! We look forward to hearing from you!
|
| 02/13/2019 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
|
|
I have a mortgage that is now owned by PennyMac. The original home was appraised for {$170000.00} and the current balance is {$140000.00} which is 79.5 % loan to value ratio. I called up the company to have my PMI removed and they declined with the reason that my LTV is not below 80 % yet and so PMI can not be removed. This is a false statement!
I also called them on XX/XX/2019 at XXXX pm and they did accept that the LTV ratio was below 80 % but they wouldn't remove PMI until the termination date of PMI. I asked if they would do, if my LTV was 78 % or lower and they declined that as well and said the only way to now remove it is to request a Brokers Price Opinion ( which I have to pay for and it may cost between $ 100- {$300.00} ) or an appraisal which would cost ( $ 400- {$1000.00} ).
The information I have read about everywhere says that once LTV is 78 % or lower, it should automatically be dropped, but Penny Mac refuses to do that.
|
| 10/16/2023 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
- Trying to communicate with the company to fix an issue while managing or servicing your loan
|
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Web |
|
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On XX/XX/2022 I had made a {$100000.00} payment towards my mortgage principal. I had 27 years left on my mortgage. I wanted to do a mortgage recast. When I called later in XXXX I was told I needed to wait a few weeks for my next statement in order to request a recast and I had one year to do so. I waited and had not called until XXXX XXXX being I had one year. They are now telling me there is nothing they can do for me and that I only had until the end of the year in which the payment was made which would have made it XXXX XXXX and its my investors policy. So I was lied to then. Now they are claiming its policy of my investor who my investor XXXX that I DID NOT chose. They are telling my now I need to make another at least {$10000.00} payment plus {$250.00} fee in order enact a recast request. They are telling me to take a home equity loan out for {$10000.00} at 9 % interest rate to pay them so I get a lower payment on my 3 % mortgage.
|
| 09/25/2021 |
Yes |
|
- Trouble during payment process
|
|
Web |
Older American, Servicemember |
|
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.
|
| 05/09/2023 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
|
|
Several requests for XXXX in writing have been denied. Reason given : 1. Need at least XXXX years payment history ( we have more than XXXX, and now more than 2 years on this loan. We have never been late on any payment on this loan or any other loan dating back over 30 years. Reason given : The mortgage company 's " internal '' valuation of the property does not qualify. The loan balance is {$300000.00}. The value according to the mortgage company 's own website has been over $ XXXX for the past XXXX months. Other valuation sites such as XXXX, XXXX, Offer Pad and others all estimate over $ XXXX. The property is a relatively new construction in a cookie-cutter neighborhood with regular sales comps for identical properties all sold for more than {$400.00} over the last XXXX months. This should be a slam dunk approval, but I keep getting run-around and stonewalling. Once a reason for denial is satisfied, another bogus reason is given.
|
| 11/29/2023 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
- Trying to communicate with the company to fix an issue while managing or servicing your loan
|
|
Web |
|
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We closed on our home XXXX XXXX. The loan originated with XXXX XXXX XXXX XXXX Original Loan Amt was {$440000.00}. The first payment due with XXXX XXXX was on XXXX XXXX, XXXX. I was told, by XXXX XXXX, if my loan is sold before XXXX XXXX that I would not owe a payment. The Loan was told to Penny Mac late XXXX XXXX. I was told by XXXX XXXX XXXX no payment was due to them on XXXX XXXX, XXXX. I received an statement from Pennymac for payment due on XXXX XXXX XXXX. The payment was made to Pennymac. I just received a letter from XXXX XXXX XXXX saying I owe them an XXXX XXXX, XXXX payment. I have called Pennymac several times for them to explain why the mortgage loan shows, on their end, the full amt of {$440000.00} and not minus the amount XXXX XXXX says I owe them. I have asked to speak to management and still nothing. XXXX XXXX XXXX says Pennymac purchased the Loan for {$440000.00} which should have included the XXXX XXXX payment.
|
| 08/11/2015 |
Yes |
|
- Loan servicing, payments, escrow account
|
|
Web |
|
|
XXXX XXXX I submitted XXXX questions via PennyMac Message Board. ( XXXX and XXXX ) They refuse to answer the questions directly and specifically. Except to tell me they already answered it or call customer service which is not acceptable.
I would like a specific answers please:1. Is there a past balance due? If so, how much and please submit proof and supportive documentation.
2. Is XXXX payment still due? A payment under the transaction amount does n't show for XXXX, although escrow and principal balance is credited for XXXX. The payment paid {$1000.00} and posted on XXXX/XXXX/2015 was for XXXX 2015.
3. Is there a reason why the principal balance did not change from XXXX to XXXX after XXXX 's payment was credited? {$180000.00} XXXX {$180000.00} XXXX.
4. Is there an escrow balance due and if so, how much? ( 2015 escrow is {$1900.00} ) Please answer each question which is XXXX questions, so there should be XXXX responses.
|
| 03/14/2023 |
Yes |
|
- Struggling to pay mortgage
|
|
Web |
|
|
We are filing a second complaint due to Pennymac not fully addressing the issue in response to complaint ID XXXX. Pennymac did not offer any resolution to servicing errors regarding our escrow account which resulted in our mortgage payment increasing our PITI payment by 39.96 %. In the response to the initial complaint they acknowledged the escrow account was not analyzed at the time of our modification, nor was it completed correctly in XX/XX/XXXX.
We have continued to pursue the issue with them and received a modification offer that places us in a significantly worse financial position. We have appealed the decision and provide 2 alternate options. Both options would return us to a similar financial position to where we would be had the account been serviced correctly.
I am including the following documents as part of this complaint for your reference.
Appeal Letter dated XX/XX/XXXX 2nd Complaint Letter dated XX/XX/XXXX
|
| 10/31/2023 |
Yes |
|
- Trouble during payment process
- Escrow, taxes, or insurance
|
|
Web |
Servicemember |
|
XXXX I changed insurance, sent new information with a paid in full recpt, the company sent a duplicate payment to insurance, for {$3500.00} and reduced my escrow account. They were supposed to put a stop pay on the check and issue refund to me, I still do not have a refund, and the insurance company will not release funds, since there was a stop payment put on the account. now I am short on my escrow acct and my payment is increasing! Ive been on hold, talked to many managers and customer service people, and this is still NOT resolved. I have been on the phone now and disconnected 6 times, over 2 hours trying to get escrow and customer service to help. at one point the last lady sd ; there is no insurance or escrow dept ;. NOT good. Still looking for resolution.
i have been calm, no yelling, and need resolution. terrible automated transfers and inexperienced service people. I need my {$3500.00} refunded to my escrow account.
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| 10/23/2023 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
- Private mortgage insurance (PMI)
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Web |
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After a re-appraisal of property value for my home, I formally requested private mortgage insurance deletion as the 80 % loan to value criteria has been met ( 77.9 % according to PennyMac representatives and letter received ). I am not being told my loan to value must be below 75 % which is not a referenceable criteria outlined in the Homeowners Protection Act of 1998, which seeks to protect consumers and homeowners from this kind of nefariousness.
I have formally requested a review of this from PennyMac in early XXXX and have not received response. Multiple follow-up calls have not yielded any resolution.
My final correspondence with PennyMac on this subject was on XX/XX/XXXX where I was transferred to a supervisor by the name of XXXX XXXX who effectively read the letter which I received nearly two months ago and did nothing to further escalate my request for review and subsequent deletion based on above outlined criteria.
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| 07/24/2020 |
Yes |
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
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I attempted to refinance and was told to not make my XXXX payment as I would be bringing it to closing. I contacted them by phone during the month of XXXX to get an update and was told, again, to not make the payment. On XX/XX/XXXX I emailed concerning my payment. They got back to me within the following day and said that yes, things were taking longer and I was to make the payment. I made the payment on XX/XX/XXXX. The week of XX/XX/XXXX they sent me an email telling me that they were denying my refinance application due to bad credit score. I then checked my credit and saw that it had fallen over 100 points due to my XXXX mortgage being late. I called the mortgage company to find out what happened. I asked how they could tell me not to pay until it was considered to be a late payment and then turn my application down due to bad credit that was their fault due to their actions. My mortgage rep told me Sometimes that happens.
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| 01/02/2023 |
Yes |
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- Trouble during payment process
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Web |
Servicemember |
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My home loan is with XXXX and they bought my home loan from XXXX XXXXXXXX Mortgage back in XXXX of 2022, I had paid extra payments into my account to cover tax 's, Insurance in the beginning because I'm a XXXX Vet on a Fixed income. Oklahoma only makes me pay the property tax on the first year, and the money was already there in my Account to cover this first year. When XXXX paid the property tax, they changed my escrow account to a higher amount and pushed up my monthly payment. XXXX was contacted many times about this, and I had also provided them with all necessary information and paperwork. I was promised that my account would not go up and the account would be reviewed. Never was, higher payment was auto drafted from my account. all without my permission on the new rate. Not only this but XXXX has released my information to XXXX callers who want me to refinance with XXXX and cash out my escrow in a new re-finance loan.
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| 07/26/2017 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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Pennymac drastically under estimated our escrow account because they did not look at the actual tax bill, they look at what was paid the previous year ( we only owned the house from XXXX-XXXX that year ). This seems negligent because our tax bill was put out in XXXX and our escrow analysis was done in XXXX. They had access to the accurate numbers yet chose to use inaccurate numbers. Due to this inaccuracy we had a deficate in our escrow account and now they are raising our mortgage payment 40 %, our payment is going from about {$1200.00} to about {$1700.00}. I have spoken with several different representative at Pennymac trying to figure out how they allowed this to happen and why they take no responsibility for their inaccurate estimate even though the correct information was available for them to use and each person gives me a different story and excuse and all refuse to admit there is anything wrong about the situation.
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| 03/21/2016 |
Yes |
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- Loan servicing, payments, escrow account
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Web |
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My mortgage payment jumped {$420.00} from on month to another. When I reach our to PennyMac Mortgage they said it was due to an Escrow analysis to cause the jump in payment. My calucations for the reason for the increase did not add up. They claimed there were shortages due to them placing forced place insurance on my loan. However my policy with XXXX never expired that would require they place forced placed insurance on my loan. The only change was my insurance premiums did rise from {$1400.00} to {$2100.00} totalling a {$660.00} increase. When I asked why they would charge me and extra {$420.00} a month for the next 12 months, Pennymac response was we have to get back with you. This is unexceptable! I paided the extra {$420.00} to avoid any late fees and negative credit reporting. After 7 days PennyMac has not responded back to my request for a full investigation on why they tried to charge me for forced placed insurance.
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| 06/10/2022 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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PennyMac mortgage policy states you can request PMI deletion at 80 % loan to " original '' value. They also state that at XXXX % loan to " original '' value PMI deletion will happen automatically. I have been back and forth with their customer service trying to remove something that I don't believe anyone should have to pay in the first place. Right now I am at XXXX % loan to " original '' value. First I get told they are going to remove it, but it will take a month, now they tell me I have to pay for an appraisal out of pocket to determine if my home has lost value. I am not going to pay extra to remove something that I should not have to pay in the first place. There has been XXXX damage to my home, I have not made any insurance claims. If anything, my home has appreciated, but that doesn't matter, because the words in their policy state " LOAN TO ORIGINAL VALUE ''! They are robbing me every month and I want it to stop.
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| 06/26/2023 |
Yes |
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- Incorrect information on your report
- Account status incorrect
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Web |
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My husband and I filed for XXXX XXXX Bankruptcy in XX/XX/2020. Our Mortgage to Pennymac is paid outside of our bankruptcy and is not included. I have called Pennymac on numerous occasions to report accurately that we have continued making payments and that our account is still open, but they said they will not while we are in bankruptcy.
I feel this is very unfair to us as a consumer because we do have an open account with them and have continued to pay our mortgage payment. I am including an activity payment log downloaded from Pennymac as proof of our payments.
On XXXX and XXXX, our mortgage is listed as CLOSED. On XXXX, our mortgage doesn't even show up ( even though it used to ). I have put in a dispute with XXXX and XXXX in the past to get this resolved but with no luck. XXXX can't do anything because it doesn't appear on my report. Today, I once again put in a dispute with XXXX and XXXX to show account as open.
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| 02/22/2022 |
Yes |
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- Trouble during payment process
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Web |
Servicemember |
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I received a letter from Pennymac on XX/XX/XXXX stating that XXXX YOU RECEIVED THIS NOTICE '' Because HO insurance is required on your property, we plan to buy insurance for your property ... .. ( i will attached a copy for the full language.
I signing into my loan portal with Pennymac and can see that they disbursed the insurance premium from my escrow account on XX/XX/XXXX. I can also see that they reflect a policy expiration of XXXX.
I then send them a message ( in loan portal ) asking why they would send me this letter with this language when they pay my insurance. They indicated that they need to update their records. Which I can understand but the language is not appropriate for what is actually needed.
I am reaching out to CFPB because I believe there language is very threatening when I did nothing wrong. I work in this industry so I know better, but other Veteran would not and this caused UNNECESSARY STRESS.
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| 09/09/2017 |
Yes |
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- Struggling to pay mortgage
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Web |
Servicemember |
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I have been struggling to keep my mortgage payments current and I 'm doing everything that I can. I have made several late payments but have recovered. I just got a letter from my mortgage company saying that my escrow account was insufficient by {$5000.00} and they need to collect the money. With the increase in my escrow from anticipating next years taxes and re-paying the mortgage company for deficit in my escrow this year my mortgage payment has increased almost {$800.00} per month. This is more than I can afford and I 'm afraid I will lose my house. I bought the home a year ago and I just do n't understand how my escrow could have been so incorrectly measured. I ca n't afford the {$5000.00} hit and with a brand new loan I do n't understand how this could 've happened. I called Penny Mac yesterday ( XXXX/XXXX/XXXX called at XXXX central ) and they would not or could not explain why it was so underfunded. I need help.
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| 08/25/2021 |
Yes |
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- Trouble during payment process
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Web |
Older American, Servicemember |
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On XX/XX/XXXX I bought a home that originally financed thru Compass. The loan was sold to Pennymac. After the first week went by I believe it was XX/XX/XXXX my loan was sold to Pennymac. I contacted the customer service reps after that to advise that as a 100 % XXXX vet I am tax exempt. The customer service reps told me they would check and get back to me which never happened. After repeated calls talking to about 7 or so customer service reps still no help. My payment should be XXXX and not XXXX. I have repeatedly advised these customer service reps to adjust my payment as not put tax money in a escrow account when I am tax exempt which was verified by XXXX XXXX. XXXX XXXX is 1 year behind in collecting taxes so for Pennymax to take taxes from me when I did not live in the property does not make sense. If Pennymac does this to me at the start I wonder how bad it will be dealing with them until I can refinance. Thanks
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| 08/26/2015 |
Yes |
- Mortgage
- Conventional fixed mortgage
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- Loan servicing, payments, escrow account
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Web |
Older American |
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A storm took place XXXX XXXX, 2015 to my lake property in XXXX XXXX XXXX, MN. I have been working with my Insurance Co., XXXX XXXX XXXX, and they have been great. Now that my claim is over {$10000.00}, the Mortgage Company XXXX PennyMac XXXX wants to hold my money in escrow until they have an inspector come to my property. They say this will take XXXX days or more. Minnesota starts to get colder soon and I am concerned. I have also signed a Mortgage Affidavit, saying I am or will be making the property as good or better than before, which I intend to do and have sworn so. How do I continue to make repairs without the funds XXXX Checks made out to me & PennyMac ) my insurance company has released, but my Mortgage company wants to hold XXXX in escrow. This is very frustrating. Can you help me? My loan payments are current and always have been. This property is located at : XXXX XXXX XXXX XXXX, XXXX XXXX XXXX, MN XXXX.
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| 04/13/2020 |
Yes |
- Mortgage
- Conventional home mortgage
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- Struggling to pay mortgage
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|
Web |
Older American, Servicemember |
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Called PennyMac my servicer about Mortgage suspension/forebearance program said it was not automatic I had to be approved and only through XX/XX/XXXX 90 days. This is not what the .gov site says is available.. The site says 180 days with extension of 180 and only a statement that you are struggling with making payments due to Covad. Loan # XXXX/XXXX XXXX/XXXX XXXX, Ut Gov.com website states : Second, if you experience financial hardship due to the coronavirus pandemic, you have a right to request a forbearance for up to 180 days. You also have the right to request one extension for another up to 180 days. You must contact your loan servicer to request this forbearance. There will be no additional fees, penalties or additional interest ( beyond scheduled amounts ) added to your account. You do not need to submit additional documentation to qualify other than your claim to have a pandemic-related financial hardship.
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| 12/02/2016 |
Yes |
- Mortgage
- Conventional fixed mortgage
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- Loan modification,collection,foreclosure
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Web |
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I have for more than XXXX months tried to talk to PennyMac and even the corporate office about my payments and how money is being applied in addition to the payments they claim they have made to the tax assessors office. my payment went up and I have nothing in writing still.
in addition to this I have unfortunately fallen behind on my mortgage loan and i have been requesting help with my loan have tried to talk on several occasion to the person assigned to my loan and nothing, until i complaint again one called me back and said she would fedex me a package and nothing i keep writing to them via the internal messenger and its a total waste of time.
it worries me that they are just waiting to add legal fees and file a notice of default to make it harder and more expensive for me to reinstate the loan, so far as of today i have fallen behind XXXX months.
I need help with this and i need the lenders cooperation.
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| 08/04/2016 |
Yes |
- Mortgage
- Conventional fixed mortgage
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- Loan servicing, payments, escrow account
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|
Web |
Older American |
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We had a tornado damage our house on XXXX XXXX, 2016. Our insurance company sent us a check within a few days. The check was made out to us and the mortgage company, PennyMac. We signed the check and forwarded it to PennyMac. We have had numerous contacts with PennyMac and are still trying to get the money to pay for materials and the labor needed to do the repairs. They told us my husband could act as a general contractor and not have to worry about the XXXX and all the other paperwork. We sent in paperwork saying he would be paying all the bills and there would be no liens or any other attachments on the property. Now they say that wo n't work and the work had to be started before that would be acceptable. We ca n't begin the work because they wo n't give us the money to finish paying for the materials. I have n't even ordered the new door because we are having so much trouble getting the money to pay the bills.
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| 10/29/2015 |
Yes |
- Mortgage
- Conventional fixed mortgage
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- Application, originator, mortgage broker
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Web |
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The seller agents forced me to go with their preferred lender. My preferred lender could n't so this loan as this is a non-gut condo and referred me to XXXX who are portfolio lender. The seller preferred lender is Penny mac and the loan originator pressured me to only go with them. The penny mac originator told me that they have a special deal with XXXX and only then can do the loan for this Condo. How can XXXX encourage monopoly in consumer finance market? The originator from XXXX tried his best but could n't do the loan as he was either not given or given incomplete incorrect documentation from the seller agents. Finally the seller agent told me that if i go with penny mac then i do n't need to pay any fine even though i was past the due date but the same option will not be given for my preferred lender. In the end even though my preferred lender gave me a 3.75 apr i am forced to go with penny mac for 5 % apr.
|
| 04/22/2023 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
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- Incorrect information on your report
- Account information incorrect
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|
Web |
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XX/XX/2023 XXXX XXXX Account # XXXX Inaccurate XXXX XXXX XXXX XXXX creditor : XXXX XXXX ) Account # XXXX Inaccurate -XXXX Account # XXXX Inaccurate -XXXX Account # XXXX Inaccurate -PENNYMAC Account # XXXX Inaccurate XXXX XXXX Account # XXXX Inaccurate -XXXX XXXX Account # XXXX Inaccurate XXXX XXXX ( Original Creditor : XXXX XXXX XXXX ) Account # XXXX Inaccurate All accounts and inquiries have inaccuracies.
The report reference # XXXX.
Report date XX/XX/2023 All personal information have Inaccuracies.
I sent the credit Bureaus letters asking them to verify the debt on my report. They have sent back stating that everything is verified correctly. My credit report are still showing inaccuracies.
15 U.S.C 1681s-2 ( A ) ( 1 ) A person shall not furnish any information relating to a consumer to any consumer reporting agency if the person knows or has reasonable cause to believe that the information is inaccurate.
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| 03/27/2017 |
Yes |
- Mortgage
- Conventional fixed mortgage
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- Loan servicing, payments, escrow account
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|
Web |
|
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This is not the first time I have complained about this company and its intentional tactics designed to harm consumers.
On ( or about ) XX/XX/2017 I requested that PennyMac send me a copy of my deed and note ( I am doing a refinance to get away from this company ). I specifically told them to mail it to me and they told me they would and to expect it in a few days. On XXXX I called and was told they had not mailed it. I requested they fax it immediately and was initially told they could not do so, later they claimed they would ( I still have not received it at the time I am writing this ). I also again requested they mail it. I am certain they did not mail it to me as a way of preventing me from moving my mortgage to another company. This is not the first time I have had problems with PennyMac refusing to meet their obligations in regard to my mortgage. As of this writing I still do not have these documents.
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| 04/10/2016 |
Yes |
- Mortgage
- Conventional fixed mortgage
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- Loan servicing, payments, escrow account
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|
Web |
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My mortgage is serviced by : PennyMac XXXX. XXXX XXXX XXXX XXXX, CA XXXX I have made on-time monthly payments for the entire term of the loan, including payments for additional equity reduction. PennyMac has incorrectly applied my payments every month, often by applying the additional payment to the following month 's payment ( more than a month before the payment is due ). For the last five months, I have had to call them every month to get them to correct errors in how my payments were applied. PennyMac 's incompetence has hit a new high this week when they sent me a letter stating that my payment was more than 30 days overdue and that my loan was in default.
I have sent them an e-mail alerting them to their error assuming that will start the reconciliation process. At this time, I do not know if they have reported this false information to credit agencies.
PennyMac 's practices should be investigated.
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| 10/21/2019 |
Yes |
- Mortgage
- Other type of mortgage
|
- Trouble during payment process
|
|
Web |
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|
On XX/XX/2019 I, XXXX XXXX, contacted my mortgage company ( PennyMac ) to discuss an error that occurred with their payment app. My wife logged on the app after hours on XX/XX/2019 to pay our mortgage. Her first attempt failed and an error box popped up stating that her attempt did not work and to try again later. So she tried again and it went through just fine. Fast forward to XX/XX/2019 we went to get gas and realized our account was over drafted. Upon further inspection an additional mortgage payment was withdrawn. I contacted PennyMac and they returned this money after I argued with the lady on the phone for 20 minutes and she refused to let me speak to a supervisor as he was busy ( yet she kept putting me on hold to speak with him ). Well today, XX/XX/2019, we woke up to find that PennyMac took the returned extra mortgage payment BACK out of our account and it set our account back in the negative.
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| 10/25/2023 |
Yes |
|
- Trouble during payment process
- Escrow, taxes, or insurance
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|
Web |
Servicemember |
|
I had a previous complaint about the amount of my taxes and insurance. That being said- I allege that this company received funds from XXXX XXXX for my XXXX forbearance loan repayment. HAF paid in excess of the amount owed for my taxes and insurance, because the lender was charging almost {$200.00} additional dollars per month. There was a significant overage paid by XXXX XXXXXXXX for my escrow account.
The person most recently spoken to at XXXX XXXX explains things as lets imagine you actually owed what you were paying in escrow. Then the numbers would be correct. However, we do not pay in what could have been. In reality my taxes and insurance were collected in far excess of what I owed. It appears a large amount of attorney fees and other fees were charged which not one person mentioned in any conversation.
The accounting of my taxes and escrow from XX/XX/XXXX is incorrect. There should be a surplus.
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| 02/25/2023 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
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|
Web |
Servicemember |
|
Reference complaint # XXXX.
PennyMac has provided incorrect information and needs to remove homeowners insurance from our escrow account as our LTV ratio is 60 %. PennyMac has removed our PMI insurance as of XX/XX/XXXX as our LTV was less than 80 % and indicated that they would remove our homeowners insurance after the PMI was removed and the escrow balance went from negative to positive. PennyMac stated that the homeowners would be removed from escrow by multiple PennyMac representatives ( XXXX, XX/XX/XXXX, XXXX, XX/XX/XXXX, XXXX, XX/XX/XXXX ). The LTV on our loan is at 60 % as of XX/XX/XXXX and our escrow was positive until PennyMac erroneously paid our homeowners insurance from our escrow account.
XXXX needs to remove our homeowners insurance from our escrow account immediately and change the responsible party for homeowners insurance from XXXX on Borrowers Behalf to Borrowers.
XXXX and XXXX XXXX
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| 03/20/2019 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
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|
Web |
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every year penny mac mortgage review XXXX my loan for taxes paid to local community for real estate. they then send a threating letter that if real estate taxes are not paid they will require escoret acct and charge us extra in the payment for the taxes. this occurs every year approx XX/XX/XXXX XX/XX/XXXX XX/XX/XXXX. our loan is conv 15 year loan which we took to quickley reduce the balance and pay the taxes ourselves. we pay quarterly or monthly depending on our income and expenses and allways catch up to date.
last year and this year i have called them wrote them to explain that. they refuse to allow us to pay the taxes monthly or quarterly, and threaten escoret and foreclosure if not done.When we signed the loan, the purpose was know to both parties that taxes would be paid out side the loan, they never stipulated timing of when they needed to be paid.
Penny mac XXXX XXXX XXXX XXXX XXXX ca XXXX XXXX
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| 01/22/2018 |
Yes |
|
- Struggling to pay mortgage
|
|
Web |
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I was affected by the Hurricane in Florida in XX/XX/XXXX. I was placed in a forbearance by Penny Mac. I was told I was approved for a " streamline modification ''. I was given the payment and terms verbally by XXXX XXXX on multiple occasions, most recently on XX/XX/XXXX. I never received the paperwork and called back only to find out she gave misinformation. I am now being told I do n't qualify for a modification at all. I was told not to pay anything by XXXX and resume payments in XXXX, that was wrong information. I have spoken with multiple people to include XXXX XXXX XXXX, XXXX XXXX, XXXX, XXXX on and on. I continue to get conflicting information regarding my loan and at times no communication at all. These forbearances were mandated by the Federal Government and now I 'm being told I may have to Short Sale my house ... What is going on? This is my livelihood and it is being handled with incompetence.
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| 03/26/2016 |
Yes |
- Mortgage
- Conventional fixed mortgage
|
- Loan servicing, payments, escrow account
|
|
Web |
|
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I have a penny mac online user id for my monthly payments which only i have access to. I have used my same bank information until my XX/XX/XXXX payment rejected because on XX/XX/XXXX my husband called to make an escrow payment with an agent. The payment was made using his account information. My XX/XX/XXXX payment rejected because my online stored account was changed by penny mac during the assisted payment and they failed to notify my husband or i. Yes, i submit my online payment, however the site does not disclose my full bank account information, and i was never made aware that penny mac had access to change my personal bank information without notifying me. Reason my payment rejected. Breach of privacy. Penny mac is refusing to rectify, confirmed it was their error. Have been giving me the run around, failed to call me back as promised. XXXX XXXX promised a call, never did. I was decline a higher up.
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| 01/15/2020 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
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On XX/XX/XXXX I logged onto the PennyMac site to make the XXXX mortgage payment on my rental property. Their system showed I had not made my XX/XX/XXXX payment and that two payments were currently due. Thinking that possibly I had neglected to make the payment I made two mortgage payments. After I logged off their system I checked my online statement with XXXX XXXX and found that my XXXX payment had been made on the XXXX. I have called numerous times since and have found it difficult if not impossible to get them to admit that there system is in error and have requested my second payment for XXXX returned to me. I have received several phone calls and two letters from PennyMac asking if I need loan assistance because their system still shows that I missed my payment in XXXX. I would like the second payment amount I made in XXXX returned to me and my account to be correctly credited with XXXX payment.
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| 08/22/2020 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
Servicemember |
|
I have a serious situation on how did my Mother 's Name Get removed off her Mortgage statement? In 2012, my mother passed away and I was the co-borrower on on home mortgage.At that the XXXX XXXX was the Loan Holder.I submitted my mother 's death certificate to XXXX XXXX and her name was removed off the mortgage statement.When I submitted the death certificate I was not listed as the Power of Attorney on the Death certificate.I kinda felt something wasn't right because soon after the loan was sold to Penny Mac mortgage company.What I am trying to find out is how am I liable for a loan of my deceased mother and I am not the Power of Attorney on her death certificate.This seems like they sold the loan and removed her name and the death certificate never transferred to the next mortgage companies the purchased the loan.It Seem like her death was used as financial gain.Please look into this Grave matter.
|
| 12/01/2016 |
Yes |
- Mortgage
- Conventional adjustable mortgage (ARM)
|
- Loan servicing, payments, escrow account
|
|
Web |
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PennyMac Loan Servicing is filing foreclosure NOTICE of order etc with county registry of deeds during Hamp Streamline Loan Modification TPP. They have cashed 2nd check and yet are moving forward illegally on fabricated documents to foreclose dual tracking non compliance fed & state laws. they must be stopped from this illegal action to illegally take my house, while I am trusting the documents they are sending indicating I have qualified for STREAMLINE HAMP no doc, just send payments and they will provide Hamp Affidavit and 2 copies of loan mod for notary signature. they indicate 3 % fixed etc. IT IS OUTRAGEOUS THAT THEY ARE PROCEEDING WITH PHONEY DOCUMENTS WITH A FORECLOSURE BEHIND MY BACK. IT WAS DISCOVERED BY A FRIEND THAT THE DOCUMENT WAS FILED IN REGISTRY OF DEEDS XX/XX/XXXX THEY MUST BE STOPPED AND FORCED TO ANSWER AND COMPLY I HAVE WRITTEN REPEATEDLY TO PENNYMAC CEO XXXX TO COMPLY WITH LAWS.
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| 09/23/2022 |
Yes |
|
- Trouble during payment process
|
|
Web |
|
|
I have a mortgage thru Pennymac. Back in XXXX thru XXXX I paid them on time and correctly thru wireless transfer from my bank to their account. They applied my payments to the wrong account. After I proved to them that I paired them and to the correct account they credited my account with the payments. I had to send them Notice of Error and Request of Information letters to get the problem fixed. They would not assist me over the phone.
My payments went as planned for two months and now the last two months payments XXXX and XXXX have not been applied to my account even tho I paid them thru wireless transfer. I have written another set of Notice of Error letters and Request of Information with no resolution yet. I am still getting phone calls and letters from Pennymac about being 2 months behind on payments even tho I have statements from my bank that I sent to them showing I paid in full on time.
|
| 09/25/2021 |
Yes |
|
- Trouble during payment process
|
|
Web |
Servicemember |
|
PennyMac has failed to pay my property taxes on time for the second time in the past 7 months. This has resulted in my account being delinquent and caused me to have to pay penalties.
The first time they failed to pay was for a property tax bill due in XX/XX/2021. I contacted PennyMac and informed them of the failure to pay. They then paid the bill but I was required to pay the penalties.
They have failed to pay my property tax again for a bill that was due in XX/XX/2021, resulting in my account being delinquent again. I once again informed them of this problem and they paid the bill, but I was required to pay the penalties.
PennyMac claims that they were unaware of this supplemental property tax bill, but the payment due in XX/XX/2021 was the second installment of the same bill that they failed to pay in XX/XX/2021, which means they should have been aware that a second installment was due.
|
| 01/06/2017 |
Yes |
|
- Loan modification,collection,foreclosure
|
|
Web |
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|
My client has submitted a request for pre-foreclosure sale with a servicer and has been treated unfairly, and my prior request for the CFPB to intervene has been disregarded by the servicer. The file was assigned to a representative and she has not been following up on the status of the file and I was informed that the property will be foreclosed upon next Wednesday because our offer was low. I requested a valuation review and was told that it is too late and that the servicer is foreclosing. The negotiator 's supervisor will not return calls and they are acting in bad faith. The servicer has mis-represented the case form the beginning and said it is too bad that Virginia laws allow for the foreclosure to happen so quickly. The negotiator refused to give me the name of the person assigned to review the CFPB complaint and said we are going into foreclosure and there is nothing I can do to stop it.
|
| 03/25/2020 |
Yes |
|
- Struggling to pay mortgage
|
|
Web |
Servicemember |
|
Out of work due to covid-19 and can not afford to make mortgage payment on XX/XX/2020. Pennymac mortgage lender is only offering their forbearance program where at the end you pay back all missed payments upfront, increase your home loan until the payments missed are paid back or forced to change your home loan to a higher interest rate or 40 term loan. No deferment option available. It seems like the lender is profiting off of a pandemic and not actually trying to help their clients. My wife is out of work and XXXX, I am XXXX and have a XXXX. Being expected to just financially be able to afford a higher mortgage or higher payments in 3 short months is unreasonable in this time and a deferred payment option should be available, just like other lenders are doing and loan payments are doing. After speaking with customer service the lack of care for their clients staying in their homes is apparent.
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| 03/30/2023 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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Penny Mac has failed to send me my Monthly Statements or Escrow Analysis via email or to my physical address. I called to resolve this and was told it is being sent and its probably the postal service losing my letters. I have USPS mail scanning service, I have record from USPS of every letter I receive at my house. I have every email I have received. I do not have record of any emails from Penny Mac with my Statements or Escrow analysis. I have not received any of the documents Penny Mac claims to have sent me via email or mail. I spoke to unlicensed supervisor " XXXX '' at extension XXXX.
Since XX/XX/XXXX, here are the ONLY items I have received via Email or Mail from Penny Mac : XX/XX/XXXX Letter notifying of changes to Homeowners Insurance, XXXX Email stated Year End Statement available, XX/XX/XXXX Email 2FA confirmation email, XX/XX/XXXX Email confirming changes to Paperless Preferences.
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| 01/17/2023 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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XXXX has unfair practices in the additional payment and attempted removal of PMI. The current value of my home has increased. I simply want to stop paying for PMI. The value of my home and the amount I owe on my mortgage is well under the 80 % value deemed by XXXX to have a PMI payment. I have attempted multiple times to get PMI removed from my monthly payment. Each attempt was met with a different reason for why XXXX would not remove the PMI payment. I have never missed a mortgage payment and my credit score is excellent. XXXX refuses to accept the current value of my home as a reason to analyze and remove PMI. XXXX refuses to accept a 3rd party appraisal for the current value of my home. XXXX will not look at the value of similar sold homes in my area as comparable. XXXX will not accept the taxable value of my home as established by XXXX XXXX that I live in as a source for establishing value.
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| 09/18/2021 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
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Web |
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PennyMac is our loan serviced and we escrow both taxes and insurance. They allowed our insurance policy to lapse without any notification or attempt to contact us until they told us due to failure to provide proof of coverage they were force placing insurance on our home. We reached out and were unable to renew with our prior company because the policy had not been renewed timely which prevented us from extending from the time of lapse. We immediately contacted another insurance provider and secured coverage. PennyMac is now charging us for the lapse in coverage and refuses to rectify the situation. I requested they provide an escrow waiver going forward so I can ensure timely payment going forward. They refused. The same situation nearly occurred last year, but I paid out of pocket to ensure continued coverage and they double paid the policy ( after it would have lapsed ) which cause a refund.
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| 09/06/2023 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
- Trying to communicate with the company to fix an issue while managing or servicing your loan
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Web |
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I see that my most recent complaint was closed by you. This was filed today and is a different complaint as the fraudulent activity by the mortgage services in sharing my private information is completely different then the prior complaints. This is interesting to me as I reported all of this retaliation that was occurring at the time of its occurrence and have had no response from you. Now with these new actions that have recently taken place you quickly close a different complaint that has been filed. Why is this?
XXXX XXXX XXXXXXXX? XXXX This was reported after the first Auction notice predated and signed, placed on our door with no affidavit. We were after the fact evicted from our home 3 months later. Why do you not respond to these pleadings for help?
How did they possibly get our payoff amount after we had been notified by their attorney that they could not get the payoff amount?
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| 12/18/2018 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
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|
Web |
Servicemember |
|
Again I am trying to resolve my mortgage payment issue. I did try calling person listed on the complaint but I have yet to receive a return call. On today I received a letter stating that I have not made my XXXX and XXXX payments and I have. I have letters from my bank confirming monthly payments that have not been returned from XX/XX/2018 - XX/XX/2018. I still do not understand why Pennymac records arent correct. I will attach my bank statement which shows payments and no NSF fees and I have verified with my bank ( XXXX XXXX ) that payment for XXXX and XXXX have cleared. They will be mailing out this information to me within the next 24 hours. I only have a letter from the bank, on bank letterhead that states my XXXX payment was not returned, but paid and cleared. I do not have my XX/XX/2018 bank statement, however I have attached my detailed account summary that clearly shoes the payment.
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| 11/11/2018 |
Yes |
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- Trouble during payment process
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Web |
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I recently filed Complaint No. XXXX. The response received from PennyMac was inaccurate. The response suggested that I did not provide instructions as to how additional monies should be applied to my account. This statement is untrue. I have spoken with multiple representatives throughout the duration of my loan and it has been suggested that a code would be applied to my account. Furthermore, the representative who responded to Complaint No. XXXX also suggested that she would speak with her Billing department to ensure that all payment overages were applied to the principal mortgage balance.
Notably, I recently remitted a payment and the overage in the amount of {$88.00} was not applied to the principal balance. Please review the attached screenshot for confirmation. This is becoming extremely annoying always having to follow-up and ensue that my payments are applied to my loan properly.
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| 09/06/2019 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
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Web |
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Penny Mac had my mortgage, but sold it on to XXXX in XX/XX/XXXX.
I spoke to XXXX XXXX in XX/XX/XXXX.
She says that Penny Mack had taken > {$5000.00} for flood insurance in XX/XX/XXXX and for Lender Placed Insurance in XX/XX/XXXX-XX/XX/XXXX and XX/XX/XXXX. Both over {$9000.00} each.
I have faxed over proof that I had flood insurance.
I had insurance thorough my agent XXXX XXXX with XXXX XXXX and we had to switch insurance to XXXX XXXX as XXXX pulled out of insuring Florida.
Penny Mack chose to not pay my insurance company and instead imposed their Lender Placed Insurance at triple what I should have been paying. I have given my Insurance company 's telephone number and proof that they had sent the request.
They have not contacted them.
I have faxed various letters, spoke to various people and had a few calls saying that they would sort it out. Then it becomes another person.
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| 07/15/2015 |
Yes |
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- Loan servicing, payments, escrow account
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Web |
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I had a mortgage through Penny Mac. This loan was an FHA loan with mortgage insurance. I paid off the loan on the XXXX of XXXX. I was charged mortgage insurance and interest for two months when calculating the amount needed for closing. Interest for XXXX and the entire month of XXXX though it was paid off on the XXXX within the grace period for payment of the loan and mortgage insurance supposedly for XXXX and XXXX paid in XXXX and XXXX, again the payoff was received within the grace period for paying the payment.
Also I analyized the escrow account for the entire period of the loan and the amounts paid in the the escrow plus the initial amount in from loan inception, less payments made do not come to the total refunded to me after closing.
I would like someone to review the mortgage as I feel I have not received all of the funds due when the loan closed.
The loan number is XXXX XXXX
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| 10/31/2022 |
Yes |
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- Struggling to pay mortgage
|
|
Web |
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hello, to whom it may concern, this is an urgent matter regarding the my mortgage lender PENNYMAC lying about my loan modification request.
At the beginning of XXXX PENNY MAC confirmed my mortgage was under review for a loan modification and now i found out they went behind my back and sold the property thru a foreclosure sale date with zero notice to my family.
please help since PENNYMAC keeps lying about the status of my home, last conversation with PENNYMAC they told me they were going to review my application for a loan modification.
which i knew they were lying.
As of today received a call from a the lenders lawyer telling me i need to get out of the house immediately otherwise they will be calling the sheriff since the property was sold with no notice.
please help me since i have a family and we have no where to go. PENNYMAC lied and tookd advantage having no where to go.
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| 05/24/2022 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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I am an XXXX XXXXXXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX PennyMac makes it virtually impossible to do business with them. 1. I have faxed 3x to the FAX ( XXXX ) number they provided ; not once did it go through. 2. They gave me the number to their insurance department ( XXXX ) ; I found it virtually impossible to get through to a person ; it simply hung up on me. 3. I have called their main number ( XXXX ) but I have yet to reach a knowledgeable person to help me update my client 's home insurance to their account. 4. I have tried to upload the documents to their web page XXXX XXXX ) but it will not allow me in to upload documents ... most calls simply end up in having their automated system hang up on me. As of yet, I have FAXed 3 times and called 6-8x today and as of yet I have not been able to transmit my XXXX XXXX XXXX Their customer service is the epitome of an XXXX.
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| 03/06/2023 |
Yes |
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Web |
Servicemember |
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We have been trying to close an assumption loan on our house since XX/XX/2022. PennyMac, the lender, has asked us to sign several extensions, as well as asking us and the buyers for information, the same information, over and over as each document ages out.
The buyers are approved, and are ready to close, as are we. We have moved to Arizona, and our expenses, as you can imagine, are starting to add up, as we are attempting to maintain and pay for both houses.
It should be noted that the realtor has been exemplary, and we believe shares no fault in this issue.
We have gotten excuse after excuse from PennyMac, and I think every party on our side of things has been patient and forthcoming, but its all wearing thin.
We were told, when the buyers were approved, that this should take no longer than 60 days. Needless to say, we are well past that.
We need PennyMac to close ASAP.
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| 08/02/2016 |
Yes |
- Mortgage
- Conventional fixed mortgage
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- Loan servicing, payments, escrow account
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Web |
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Due to a weather events our house sustained damages in the neighborhood of {$57000.00}. Because it was XXXX in damages the mortgage company restricted my loss drafts. The last draft was due to the contractor and myself to recover the depreciation values and the supplemental repairs. The mortgage company refuses to release the last payments and claim that they need more documentation both our contractor and ourselves have provided that documentation 6 times already via fax, email and regular mail. When we call for an update on your checks they ask for the same documentation that has already been sent to them 6 times. They also make you wait 3 days for an update and when you call back, again the ask for stuff that was already provided to them. There is no consistency with your case manager, you always get a different person and it is always the same excuses. The company is Penny Mac.
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| 05/18/2023 |
Yes |
- Mortgage
- Conventional home mortgage
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|
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Web |
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In XX/XX/XXXX, I took it upon myself to notify my sister 's mortgage company. I called and told them that she was in the hospital and she was not able to pay her bills. they took my name, address and phone number at that time.
My sister passed away on XX/XX/XXXX, at which time I began the process of becoming the personal representative of her estate.
I was unaware that her home was in foreclosure due to Pennymac not notifying me, although they had all of my information.
While on a zoom call on XX/XX/XXXX for a conciliation conference, I spoke to a lawyer appointed to me. It was at this time that he gave me the information to submit a complaint. He agreed that I had a valid complaint.
In the meantime, my sister 's home went under contract.
I think under the circumstances that the foreclosure fees of {$3900.00} should be reimbursed or not be paid at the settlement on XXXX XXXX.
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| 09/13/2016 |
Yes |
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- Loan servicing, payments, escrow account
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|
Web |
Older American |
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penny Mac loan services where I have my mortgage place on my credit that I missed five payments -which is NOT TRUE! I WAS ALWAYS CURRENT - I had a hardship my wife had a back operation and I am XXXX living on XXXX XXXX filed for a Modification with them and they gave me XXXX which drop my payment from {$1100.00} to {$1000.00} which did help me a little. Then they placed placed this on my credit missing all them payments which is a LIE! I was always current just needed some help and still current on my payments, I talked to them and they refuse to take this off my credit, this is unjust - I was never told that this would happen if I was told I would have never had a modification in the first place. Please help -I 'm a XXXX XXXX going through a hardship this will help my credit if this was taken off -I believe it is a crime for what there doing to me - Thanks for helping - XXXX XXXX
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| 11/16/2022 |
Yes |
|
- Trouble during payment process
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Web |
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Not all of my Home Owners Assistance Fund ( Haf ) payments are being applied as monthly payments. I was awarded XXXX mortgage payments via the HAF program. Im being told by PennyMac that the STATE of Florida only has told them that they must apply mortgage assistance funds sent on my behalf as principal only payments If I'm a month ahead on payments. Yet when I contact HAF Im being told by the reps and supervisors that they have not provided this instruction to PennyMac. PennyMac has been able to provide me documentation on this rule and continue to refer me back to HAF who again state this is not a rule that HAF has given PennyMac. If this information is indeed correct please provide me documentation or update my account to note all HAF payments can applied as needed ( escrow or monthly payments. ) See Mortgage Assistance Program, section 10 of the Florida HAF document attached
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| 08/26/2017 |
Yes |
|
- Trouble during payment process
|
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Web |
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My original monthly mtg payment was XXXX per month at closing in XX/XX/XXXX I then received a check on XX/XX/XXXX in the amount of XXXX for an escrow shortage. Then received a tax bill from the county assessors showing tax assessment in amount of XXXX per year and according to my closing disclosure they were escrowing XXXX per month, and only collected XXXX ( 2 mths ). I am now being told my payment is increasing by XXXX per month and they also requested that I return the escrow shortage check I received in XX/XX/XXXX. I have a made multiple calls for an explanation that is logical and reasonably understood, and have not been successful in receiving a resolution. I believe this is a servicing error that should be resolved by the lender. I have consistently met my financial obligations on a monthly basis and should not be held liable for their inability to manage escrow accounts.
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| 04/16/2021 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Applying for a mortgage or refinancing an existing mortgage
|
|
Web |
Servicemember |
|
Attempted to refinance my existing conventional XXXX yr mortgage to reduce my monthly pymt. Was told the process would take approx XXXX days. It's now been XXXX months despite having excellent credit, no late payments and prompt replies to their document requests. I was recently informed the loan was finally approved and they sent me a closing document. It had an incorrect payoff amount on my current mortgage ( off by several XXXX dollars ) and had increased my costs to close ( above the estimate provided months earlier ). In short, my monthly mortgage reduction -- according to their new figures -- was going to be less than {$57.00}. And the cost to acquire this XXXX reduction ( a figure far less than their 'sales ' promise ) was going to be in excess of $ XXXX. I don't know if they're XXXX XXXX XXXX but I've lost all confidence in this firm and will not do business with them.
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| 04/11/2021 |
Yes |
|
- Trouble during payment process
|
|
Web |
Servicemember |
|
I had extensive work done on my house last XXXX. The insurance put PennyMac on the check as well so I sent it to them for endorsement. I paid {$3000.00} out of pocket for the work, but still owe almost {$4200.00}. For the past 6 months, PennyMac had me jumping through hoops, submitting a ridiculous amount of unnecessary paperwork. I submitted everything they asked for. They continuously gave excuses for why they would not release MY funds. Documents they previously accepted suddenly had new issues. I resubmitted everything. I had their people do the final inspection they required, yet they still refuse to sent my funds. The work was done almost a year ago and they still have excuses for not sending me my money. The final inspection has been done since XXXX. I will be happy to have my XXXX file a complaint too, because they have suffered this inefficient companys circus as well.
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| 06/09/2015 |
Yes |
- Mortgage
- Conventional fixed mortgage
|
- Loan modification,collection,foreclosure
|
|
Web |
|
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My father passed away XX/XX/XXXX. He had a mortage through PennyMac. The mortgage was being paid by myself and my sister through XX/XX/XXXX. The house is currently in escrow to sell ( not a short sell ). I am the trustee of my dad 's trust which includes his home. I have provided PennyMac all the documentation ( death cert, trust, copy of contract for the sale of the house etc ) in order to discuss loss mitigation and my options. pennyMac will not assist me by talking to me, stating they need a signed authorization to discuss the loan. My father can not provide that as he passed away. I am worried that before escrow closes ( set for XXXX XXXX ) that foreclosure process 's will start. I do not understand how PennyMac can not speak to me regarding the loan, how they cant se4em to understand my father is dead. I have been very proactive in trying to avoid foreclosure. Please help
|
| 03/14/2019 |
Yes |
|
- Trouble during payment process
|
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Web |
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|
We did not receive, nor is there record of, escrow analysis for years XXXX, XXXX or XXXX and now our mortgage has gone up approximately {$700.00} per month despite being in a fixed rate product. Our property taxes and insurance rose marginally and PMI is on a steady decline. Yet, we have a negative escrow balance of nearly XXXX and PennyMac wants us to pay approximatey {$4600.00} to true up the escrow account or continue to make our increased monthly total. It shouldnt come as a shock that when someones budget on a fixed rate mortgage starting at around $ XXXX is completely and unreasonably stretched nearly 7 years later when the mortgage is $ XXXX. Since we did not receive, nor did PennyMac perform, escrow analysis for 3 consecutive years we feel this is an unreasonable encumberance to our family and feel they shoulder a great deal of liability in this severe an oversight.
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| 12/27/2021 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
|
|
I have a mortgage with PennyMAC ( XXXX XXXX XXXX, XXXX XXXX CA XXXX ). For 2 of the past 3 months PennyMac did not provide me with my monthly paper mortgage statement, forcing me to retrieve it from their website.
Specifically, PennyMAC did not provide a mortgage statement for either XX/XX/2021 ( Due XXXX ) or XX/XX/2021 ( Due XXXX XXXX ).
I called PennyMAC regarding the missing XXXX statement, they blamed the US Post Office for " late service, '' yet my statements weren't simply late- they never arrived. I attempted to call them regarding the missing XXXX statement but gave up after sitting on hold for 20 minutes.
I'm receiving all my other mail ( including a mortgage statement from another servicer ) on time, including a heavy volume of mortgage-refinance advertising mailings from PennyMAC itself ( I received 2 ads from PennyMAC just this month, but no statement ).
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| 12/27/2021 |
Yes |
- Debt collection
- Mortgage debt
|
- Attempts to collect debt not owed
- Debt was paid
|
|
Web |
|
|
I Have sent PennyMac Services numerous Notices and Affidavits to rebut my facts about the validation of an alleged Debt and all i have been receiving from them are Copy 's of statements and old papers " Not originals with my wet ink signature as asked to prove the authenticity of my own autograph. I have gone through the proper procedures asking to settle the matter by ways of the Complete administrative Process, The response that i have asked for was inaccurate that proved i the Living woman owed this alleged Debt. I have all the supporting documents i will attached herein. As a results i have Forward a Notice of Judgement for default for none compliance To PennyMac Services, And the responses ones again wasn't a sworn testimony or in Affidavit format to rebut my truth, therefore as a result this alleged debt should be removed from all my credit reporting and be expunged.
|
| 03/26/2019 |
Yes |
- Mortgage
- Conventional home mortgage
|
|
|
Web |
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|
We got a letter in the mail from PennyMac ( XXXX XXXX XXXX XXXX XXXX, CA ), our new mortgage company that our information will be shared with other companies, including their affiliates and non-affiliate, unless we write a letter in opting out, or calling a XXXX number to opt out.
The requirement of having a consumer take an extra step in order to opt out of sharing information is unreasonable. Majority of consumers do not have the time to read every letter that comes in the mail, not to mention the time to write in a letter, put in a mail, or make a phone call ( typically waiting for 20 minutes to just get through with some automated system ). The default should be that no information should be shared unless the consumer writes a letter in providing the consent.
Please investigate this and protect our privacy information, not just about PennyMac but any loan company.
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| 03/29/2016 |
Yes |
- Mortgage
- Conventional adjustable mortgage (ARM)
|
- Loan servicing, payments, escrow account
|
|
Web |
|
|
I applied for a loan modification about XXXX4 months ago and after going back and forth with the loan servicer penny mac i received a trial loan mod in the mail, so after reviewing it i asked penny mac to explain the calculations in determining the rate and payments on the loan modifications, but i decided to ask a third party loan modification auditor to review the information and they discovered some mis calculation on the file and there recommendation was for me to appeal the trial loan mod, so i contacted penny mac and rejected there offer and about 2 weeks later i received a sale date on my front door, which is out of compliance with the XXXX guided lines it clearly states that have the right not to accept the servicer loan mod offer or i can appeal it, loan servicer can not just expect me to take what there offering or leave it, if its not an affordable loan payment
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| 03/25/2016 |
Yes |
- Mortgage
- Conventional fixed mortgage
|
- Loan servicing, payments, escrow account
|
|
Web |
Servicemember |
|
I have been enrolled with PennyMac mortgage automatic ACH withdrawal and the bi-weekly payment program for several years. A bi-weekly payment of {$1200.00} is withdrawn from my checking account at least twice but sometimes three times pert month. I went on vacation XXXX 2016 and when I returned I noticed that PennyMac had failed to withdraw the normal bi-weekly payments from my account. No payments were made in the month of XXXX 2016. This is in violation of our automatic ACH and bi-weekly payment agreement. I believe PennyMac intentionally did this so that I can not pay my mortgage off early and save by reducing interest charges over time. This is the third or fourth related CFPB complaint I have filed on PennyMac in the past couple years and nothing helps! PennyMac is using predatory lending practices and not honoring their auto ACH bi-weekly payment agreement I signed.
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| 02/28/2017 |
Yes |
|
- Loan servicing, payments, escrow account
|
|
Web |
Servicemember |
|
PennyMac USA failed to pay our real estate taxes due XX/XX/XXXX. They told us that the local taxing authority told them it was already paid. Our local authority disputes that and said that the bank never called them, nor do they ever. I now have a delinquent notice which I faxed to them yesterday and they can not confirm that our taxes will be paid, nor when they will be paid. They only tell me the next scheduled payment is XX/XX/XXXX and they will try to get it escalated. These taxes need to be paid immediately. I 've spent two hours on the phone with them and I am at the end of my rope. The tax department does not take phone calls and they offer no assurance that I will be notified if and when these taxes are paid. Meanwhile, I am listed as delinquent with the local authority which is embarrassing as this is a small town. There is more than sufficient funds in escrow.
|
| 07/17/2015 |
Yes |
|
- Loan servicing, payments, escrow account
|
|
Web |
|
|
My loan was sold to PennyMac, XXXX XXXX XXXX , XXXX, CA XXXX in XXXX/XXXX/2015 at this time they started calling me saying I was behind and owed XXXX. I have had XXXX phone call conversations with them over the last 3 months trying to resolve this. I have recently found out that the was charging me XXXX for flood insurance when I already had flood policy in place for 2yrs in the amount of XXXXXXXXyr, also they had my home owners at XXXX when it is XXXXXXXXyr. My taxes are XXXXXXXXyr they have me at XXXXXXXXyr. They have reported to credit bureau I am behind on payments and late? I have my canceled check stubs showing that I have made all my payments and not been late. They have my escrow account screwed up and report things to the credit bureau that are false and untrue. I would like a breakdown of my loan where the money is going, principal, escrow amounts, fees ect.
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| 11/07/2021 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
|
|
Im closed on my home on XX/XX/2021 and the first payment was due on XXXX to XXXX XXXX, I made the payment to XXXX XXXX on XX/XX/2021 and on XX/XX/XXXX I received a letter from XXXX XXXX stating that they had sold my loan to Pennymac on XXXX but that they failed to send me notice on time, and that any payment would be forwarded to my new loan servicer Pennymac, after almost 4 months Pennymac hasnt received the payment I made to XXXX, I have explained the situation to Pennymac and send them all the supporting documents theyve asked, prove of payment to XXXX XXXX, today I received an alert from XXXX credit report that Pennymac had flagged my account delinquent, Pennymac continues to harass me and every time they call I have to explain the situation, they promise they would take care of this issue and not report any lake payments to my credit report but they still did.
|
| 09/30/2022 |
Yes |
|
- Trouble during payment process
|
|
Web |
Servicemember |
|
My mortgage company ( PennyMac ) is overcharging us interest since we make extra principal payments. They started only applying our payments on paper, but the interest stopped going down until the following month after a I made the payment. On XX/XX/2022, my balance was {$470000.00}. We should have been charged {$880.00} on XX/XX/2022, but they charged us {$880.00}. Our interest rate is 2.25 %, and our note says our bill is due on the XXXX. Our balance on the XX/XX/2022 was {$470000.00}. Their math on my statements is no longer adding up since for the last 3 months. They said I make extra payments they are splitting my interest now. They are charging me monthly, and holding my extra principal for a month unless I pay it on the XXXX of the month and lose my 16 day grace period. This is their new policy that started 3 months ago if you make extra principal payments.
|
| 10/22/2020 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
|
|
PennyMac Mortgage has {$3400.00} in excess Escrow which they received as a part of XXXX XXXX XXXX tax payment which has already been made. I have contacted them 5 times asking for sending me refund. They twice told me that Refund would be sent yet no refund is being sent.
Last communication I had was on Friday XX/XX/2020 with their customer service manager/supervisor XXXX who also gave me her direct phone number XXXX X XXXX. She assured me that check for {$3400.00} will be sent on Tuesday XX/XX/2020 and she will personally follow up with me by giving me a phone call.
NO CHECK HAS BEEN RECIEVED till today XX/XX/2020 and I have not heard from XXXX during since then. I have tried to call her 3 times and left voicemail each time with no response. Her number is correct but she or anyone from PennyMac doesn't call back. I am out {$3400.00} which they wouldn't refund
|
| 08/17/2023 |
Yes |
- Mortgage
- Other type of mortgage
|
- Trouble during payment process
|
|
Web |
|
|
On XX/XX/2023 my home was damaged by a wind event. Penmac has been holding the funds from insurance. I struggled for months to find anyone that would work with me to provide these documents PennyMac was requiring to release the funds from my insurance policy that I pay for.
I previously contacted the CFPB and was told that if I could find a company that would do this, they would release all funds without the need for the inspections.
I signed with a roofing company that had a quote {$2000.00} higher than any other quote I had gotten, submitted all of the required documentation and PennyMac released {$1400.00} and is requiring inspection now for the rest.
This was not the agreement made to resolve the prior CFPB complaint. There is now mold spreading through my home, my kids are starting to have headaches and other issues.
This is completely unacceptable.
|
| 08/16/2020 |
Yes |
|
- Struggling to pay mortgage
|
|
Web |
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|
XX/XX/2019 XXXX year old was diagnosed with XXXX, he stayed in the hospital x 2 months. I notified penny Mac of hardship no options were offered denied need for forbearance. I eventually picked up second job to catch up. In XX/XX/2019 my son fell really XXXX from XXXX and stayed in the hospital until XX/XX/XXXX. My son was seriously XXXX near XXXX unable to go to work during this time had approved leave of absence without pay mostly, explained to penny Mac they didnt care or offer any assistance until Covid-19. I have written them and asked if they could delete the late payments since account is in good standing and provided medical documentation from my sons XXXX and hospital stay during the months the payments were late, I received no response. Can you please assist? Im asking for forgiveness if the late payments can be deleted due to my previous hardships?
|
| 09/05/2019 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Other personal consumer report
|
- Improper use of your report
- Reporting company used your report improperly
|
|
Web |
|
|
Hi About 2 months ago ( XXXX ) I received an email from a company representative at PennyMac requesting additional information in regards to a loan that had already closed months ago. The email requested additional information regarding my tax.
That email was sent insecurely and my private tax document ( XXXX ) was attached to that email without any kind of protection. There was no password or encryption on the tax document. My private data was exposed to an insecure web email ( XXXX ).
The company has violated my privacy and has exposed me to years of possible identity theft and many other criminal activities.
I have tried for over 2 months to get the company to accept responsibility and provide me with compensation and identity monitoring. The company has refused to acknowledge this incident has occurred and has no plans to remedy this situation.
|
| 03/07/2017 |
Yes |
|
- Loan modification,collection,foreclosure
|
|
Web |
|
|
I am having a very difficult time with PennyMac. I am trying to avoid a foreclosure. I have put my property up for sale. As of 2 weeks ago I have an offer at market value. My realtor and I have been trying to get a hold of XXXX XXXX XXXX the assigned rep at PennyMac for the past 2 weeks. She never responded by email or phone call. When we would call PennyMac to try and get an update from them, no one could give me any information or get me in touch with XXXX XXXX XXXX. We were told today that PennyMac will not stop my sale date of XX/XX/2017 or review my short sale. We were told there is " not enough time ''. That is the exact reason we having be trying to communicate with PennyMac 2 weeks ago! I feel like PennyMac has done this on purpose and is back dooring me into foreclosure. I am be forced into a foreclosure because of the dysfunctional system at PennyMac
|
| 12/13/2023 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
- Payment process
|
|
Web |
Older American |
|
My son and I bought a house together and I co-signed for his part of the cost.
Approximately a month ago my son got a foreclosure notice because he was two months behind on payments.
Since we have the mortgage payments automatically sent for our joint bank account we were shocked that we were two months behind.
My son and I called the mortgage company about the situation. The representative said that the XX/XX/2023 payment was not received. He requested a copy of the cleared check which we provided.
This month my son received another foreclosure notice ( very unsettling for him ) so I went to the mortgage companies website and read a synopsis of their investigation. Apparently they applied the entire mortgage payment to the escrow account!! Why would they do that?
I have just instructed them to apply the overage in the escrow account to the XXXX payment.
|
| 03/20/2017 |
Yes |
|
- Loan servicing, payments, escrow account
|
|
Web |
|
|
When closing for my home mortgage on the property at XXXX MD XXXX. I closed with a mortgage company who after my closing sold my Mortgage to PennyMac. During closing I was told to purchase home owners insurance on the property which I did. For the value of {$390000.00} i was only required to have {$330000.00} of coverage as what was estimated at far market value to replace the home. Today XX/XX/2017 I received a letter from PennyMac istructing me that I must increase my insure coverage ( the letter by the way was dated XX/XX/XXXX ). Upon speaking PennyMac on XX/XX/2017 they infomed me is must increase my coverage to {$5000.00} dollars past what is on the current loan. I was told that this was THEIR policy. If I did not do this then they said PennyMac would buy insurance for me. I believe this is in violation of my mortgage agreement that I signed at closing.
|
| 10/25/2016 |
Yes |
|
- Loan servicing, payments, escrow account
|
|
Web |
|
|
PennyMac has consistently mishandled my mortgage servicing since assigned to them by XXXX XXXX XXXX. The closing documents show a monthly payment of XXXX. In XXXX they sent me several notices requesting a payment of XXXX by XXXX XXXX for my first payment. XXXX calls were made to them to correct it and each time they said it was their mistake, stated it was corrected and they would send me a new statement. Each time the new statement showed the incorrect amount. Mind you this is my first payment after closing. Finally that issue was corrected, and I mad a payment that was posted to them from XXXX on XXXX XXXX 2016. Today XXXX XXXX I get a statement in the mail stating that they never received my payment even though I called and verified with them that they had. So they are threatening my credit with their incompetence and I guess I will have to hire a lawyer.
|
| 09/10/2023 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
- Escrow, taxes, or insurance
|
|
Web |
|
|
PennyMac is refusing to make payment on our homeowners policy. I sent them the XXXX XXXX documentation showing we had a policy and they were supposed to make payment. They keep writing to us saying no payment has been made yet they are the ones who are supposed to pay it! We finally paid it in full ourselves to avoid a problem but PennyMac is still sending us notices that we dont have coverage HELP!!!
This is an email we sent them on XX/XX/XXXX : TO : XXXX Hello. It was our understanding that the lender pays the insurance company and included in our monthly mortgage payment.
Since PennyMac for some reason does not pay the homeowners insurance police and instead requires the mortgagee to pay up front, we did. See screenshot below.
Please update our monthly payment to delete the portion that covers the insurance since we have paid it directly ourselves.
|
| 03/16/2019 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
|
|
Hurricane Florence victim..My insurance check was issued in XXXX to XXXX XXXX, who sold my mortgage to Penny Mac in XX/XX/XXXX..now Penny Mac will not give me my money to fix my home, which is over 60 % repaired with my own savings..Penny Mac has come up with several different excuses not to give me my money, first couldn't find check, then I need a licenced contractor to do my work, which is not required under 30,000 in NC. Then they told me I needed and inspection, which was lost and had to come back and do again. They came again which took another two weeks said my home was 60 % done.. So clearly i'm not going to take the money and run, but it seems they are making tons off of event 's money..so I've decided regrettably not to pay them anymore mortgage payments which I informed them of this, which I have never missed..they should be fined or imprisoned..
|
| 09/25/2021 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
|
|
I received a letter about refinancing my home, I called in around the first of XX/XX/2021 to see what rates they had, the rate I have is better so we decided not to. When the Pennymac agent asked me why I wanted to refinance I advised it was to get the mortgage insurance off the account. He sed that due to the Loan to Value ( LTV ) of my home and the market I would be able to get that removed after my next payment.
I called in again on XX/XX/2021 to start this process and was told no.
After escalating to a supervisor ( XXXX XXXX EXT - XXXX ) I asked to submit a Unfair, Deceptive, Acts, and Practices ( UDAP ) case she sed she would review the call and give me a call back with her findings.
I called again on XX/XX/2021 to talk to XXXX and was unable to get though so I escalated again to ( XXXX ) and was again told I would get a call back and never did.
|
| 05/07/2018 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
|
|
PennyMac is consistently not paying my taxes on time with the City of XXXX. First half of the tax bill was due XX/XX/2018 and I just received a letter in the mail that this has not been paid. The same thing happened to me last fall as well. I currently have a partial tax exemption for my rehabilitated property and it appears that I may lose this because of PennyMac 's inability to monitor my taxes. What is the point of having an escrow account if I'm getting penalized monetarily by the city? I am curious to know what controls they have in place and who their vendor is because this has been an unbelievably frustrating experience for me, to constantly get these letters from the City. Please pay my taxes on time and make sure you are MONITORING for future payments. I refuse to pay inflated taxes because of PennyMac 's deficiencies in their internal processes.
|
| 10/13/2016 |
Yes |
|
- Loan servicing, payments, escrow account
|
|
Web |
|
|
My husband & I have been living in our home for going on four years. We have received our mortgage from XXXX XXXX in XXXX, Il. They kept our loan for about 8 months & it sold to XXXX. For the last four years our taxes have NOT been paid on time. Which has resulted in a headache and worry for myself and our family. Our name has been put in the paper for something we can not control. We have escrow & I am sick and tired of having to fight & deal with this problem every year. Our mortgage now is with PennyMac who I dealt with this situation last year. When I spoke to the representative I asked the CSR if I needed to send the tax bill to them next year to fix the problem I was told no & assured that this would not happen again. I am sickened & thoroughly annoyed with this situation. We have escrow so I do not have to worry about situations like this occurring.
|
| 08/31/2021 |
Yes |
- Mortgage
- Conventional home mortgage
|
|
|
Web |
|
|
I was working with Penny Mac to refinance my current mortgage that currently sits with Penny Mac on XX/XX/2020. I called Penny Mac on XX/XX/XXXX or XXXX to see where I was in the process and they said they were still underwritting the loan before I could close. I told them I was going out of town on XX/XX/XXXX. They said we likely wouldn't be able to close before then. I asked if it would be okay to close when I get back on XX/XX/XXXX and they said that would be no problem. I asked if the lock on the mortgage rate would expire and they said that wouldn't be an issue. I got a voicemail on the XXXX while I was traveling saying that the rate was going to expire and we needed to schedule closing. I was traveling so I wasn't able to call them back till I was back on the XXXX. Since then, I've left them voicemails and emailed them and haven't heard back at all.
|
| 06/22/2023 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
|
- Problem with a credit reporting company's investigation into an existing problem
- Their investigation did not fix an error on your report
|
|
Web |
|
|
My understanding is that per 15 USC 1681 ( a ) ( 2 ) ( A ) ( i ), my consumer report should not contain information solely as to transactions or experiences between the consumer ( me ) and the person ( you ) making the report. Payment history and the late payments associated with payment history negatively impacts my consumer report and are considered as part of my transactions and experiences between your company and me.
Furthermore, I am requesting that you provide me with, in writing, the reasonable procedures ( according to 15 USC 1666 ( b ) ) that you have adopted to ensure that each periodic statement is mailed to me ( the consumer ) not later than 21 days before the payment due date. Include also, all the information required by Section 1637 ( b ) of Title 15.
Please correct this account in my file : PENNYMAC XXXX Balance Owed : {$200000.00}
|
| 01/13/2020 |
Yes |
|
- Trouble during payment process
|
|
Web |
|
|
My mortgage is through Penny Mac Loan Services.
I made my XXXX payment. They tried to withdraw the payment twice from my checking account. I had to issue a stop payment for the second payment. They messed something up in their system and have not been able to post the first payment that cleared my account. My account shows delinquent when it's not delinquent. I am being charged interest and a late fee for my XXXX payment that is incorrect.
The rep who I spoke to told me that they changed systems and this is what caused the error on their end. They acknowledged that they received my XXXX payment, but told me that it would take about 20 days to resolve. This is completely unacceptable. They've had my payment and there is no reason it should take 20 days to post correctly.
This issue has been going on since XX/XX/19.
This was their mistake, not mine.
|
| 12/31/2016 |
Yes |
- Mortgage
- Conventional fixed mortgage
|
- Loan servicing, payments, escrow account
|
|
Web |
|
|
I called Penny Mac to make a payment and they informed me that my note had increased over {$500.00} and stated the reason as " city taxes increased ''. I contacted the XXXX County Appraisal District and discovered that the homestead exemption had not been applied. They applied it and notified Penny Mac. In addition, the tax office notified Penny Mac of the resolved issue and subsequent adjustment. Penny Mac has refused to adjust the amount of taxes. Penny Mac reps told me that they would not adjust the taxes because I am late with my payment. I questioned the reasoning to apply an additional {$500.00} in taxes that are not valid as a retaliation for late payment. I also was informed that if they did agree to adjust the amount at a later date after payments had been made that I would not see the return of that money until possibly the term of the loan.
|
| 04/05/2017 |
Yes |
|
- Loan servicing, payments, escrow account
|
|
Web |
|
|
I worked with a real estate agent in XXXX KS who helped me buy a house which ended up needing a structural engineer and an inspector to pass for the loan, the inspector said NO, the engineer said yes, but the house has significant structural damage and excessive repairs that exceed the loan amount. Ive never lived in the home for 8 yr but paid on it. Asked XXXX to buy back loan within XXXX of loan they agreed but never did. I am on XXXX and house is uninhabitable and was lied to from real estate agent to engineer to XXXX, the loan was sold to XXXX XXXX XXXX who would not listen, now its with Penny Mac.I 'm facing XXXX. No mechanic, inspector, or the like will work on the home due to the liability. Attorneys and everyone is afraid of the costs, I just want my loan money back and my good credit restored. I am homeless, this should never have happened.
|
| 09/06/2023 |
Yes |
|
- Trouble during payment process
- Payment process
|
|
Web |
Servicemember |
|
On XX/XX/XXXX and XX/XX/2023 PennyMac received two mortgage payments from my account totaling {$3600.00}. Upon noticing I promptly reached out to PennyMac, they claimed they processed my refund of my money. On XX/XX/XXXX I was told it was escalated and the money would show shortly. I was later told that they placed it on a " suspense '' account instead of refunding it to the account as directed. On XXXX XXXX customer service is now saying they will send a check in 14 business days because they can not put it back in my account, contradicting everything previously said by PennyMac representatives. Additionally, there is an eDisbursement account set on the account that would allow for the direct deposit of the funds back into my account.
This were funds from my VA payment and has caused extreme hardship with PennyMac not wanting to return payment.
|
| 01/17/2023 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
|
- Improper use of your report
- Credit inquiries on your report that you don't recognize
|
|
Web |
|
|
To Whom It May Concern, I received a copy of my credit report and found the following items to be in error below.
I had several inquiries that was not authorized from XXXX XXXX XXXX XXXX Date of inquiry : XX/XX/2021 Previous Address ( es ) : XXXX XXXX XXXX XXXX XXXX XXXX MO XXXX The inquiry was not authorized XXXX XXXX XXXX XXXX Date of inquiry : XX/XX/2021 Previous Address ( es ) : XXXX XXXX XXXX XXXX XXXX XXXX MO XXXX The inquiry was not authorized XXXX XXXX XXXX XXXX Date of inquiry : XX/XX/2021 Previous Address ( es ) : XXXX XXXX XXXX XXXX XXXX XXXX MO XXXX The inquiry was not authorized XXXX XXXX XXXX XXXX Date of inquiry : XX/XX/2021 Previous Address ( es ) : XXXX XXXX XXXX XXXX XXXX XXXX MO XXXX The inquiry was not authorized XXXX XXXX XXXX XXXX Date of inquiry : XX/XX/2021 Previous Address ( es ) : XXXX XXXX XXXX XXXX XXXX XXXX MO XXXX
|
| 12/15/2021 |
Yes |
|
- Trouble during payment process
|
|
Web |
Servicemember |
|
I closed on my home XX/XX/2020. I contacted Pennymac that weekend to get on an excelerated payment plan. I set up a biweekly payment so I would reduce my principle. After a few months I received a statement that stated they DO NOT APPLY my payment towards my mortgage. They keep it an earn interest off my monies and only apply the payment when its the full amount. This is Fraud! Misleading etc. Now my complaint is I receive notices via email, phone text and letters to apply for a mortgage with Pennymac. I have contacted them and stated they must stop! I have a morgage loan with Pennymac and the letters look like there is an issue ( Stamped Urgent ) or the mortgage has been sold. Creating extreme anxiety to me. After a month from the original complaint to stop the solictation, they keep on coming. I want them to stop. Please help resolve this issue
|
| 08/10/2021 |
Yes |
|
- Trouble during payment process
|
|
Web |
|
|
my name is XXXX XXXX and i have a housing choice voucher for homeownership. i closed on my home in XXXX of 2020. XXXX XXXX housing authority pays part of my mortgage and then i pay part of the mortgage. i have been told this is a dual payment option. Pennymac is the servicer of my loan and they continue to harrarras and threaten me on the phone that they will be filing a lien on the property for nonpayment yet XXXX XXXX and myself have verified ALL mortgage payment have been made timely. they have poor record keeping and they are ugly and threating to take my home.i am very stressed out as im XXXX, currently XXXX with XXXX children to care for i do not need this XXXX. i don't understand i am paying my mortgage im making sure the housing authority is making the payment. this is just discriminations from PennyMac to take my home. i need help now
|
| 03/27/2019 |
Yes |
- Mortgage
- Other type of mortgage
|
- Trouble during payment process
|
|
Web |
|
|
My husband and I have had continued problems with paying our house payments with PennyMac. There are always issues with hidden fees and our payment rising and not being explained. Weve attempted to make payments ahead and call to relay that wed be making advance house payments. We recently received a letter stating we were late for the month of XX/XX/XXXX. We printed our payment history and found that PennyMac had taken it upon theirselves to take payments and put them towards principle reduction. Weve also noticed that there are reoccurring charges for property inspection fees. We believe these to be fraudulent charges. Our home insurance is supposed to be taken monthly and appears as a lump sum on our bill. The fact that they chose to apply our house payments towards the principle reduction they were also charging us late fees. We werent late.
|
| 10/22/2016 |
Yes |
|
- Loan servicing, payments, escrow account
|
|
Web |
Older American |
|
I obtained a Modification Approval from my Mortgage Company, PennyMac Mortgage which was supposed to give me a 2 month payment hiatus and a reduced mortgage payment.
I was told this Modification would be reported to the Credit Bureaus as my making partial payments. This never happened. Instead, my original mortgage payments were reported as very delinquent over the course of the Modification. The XXXX page Modification Approval I received advised me on the first page that I was only to make my new modified payments during the Modification. The XXXX page, which I did not look at until recently, told me that I in fact, I had to make my regular payments as well as my modified payments to avoid Delinquency Reporting during the Modification period. This entire transaction was misrepresented to me at the beginning and during the Modification period.
|
| 12/20/2020 |
Yes |
- Mortgage
- Other type of mortgage
|
- Trouble during payment process
|
|
Web |
|
|
We have been with PennyMac for the first year, and every month we pay all our insurance and taxes for the whole year. I have been getting email after email asking us to refinance our home so when we call to inquire, no one can help and they always hang up on us. So today I receive a letter in the mail saying that they have not received our insurance payment for the year and that if they don't receive it in 2 weeks then our homeowners insurance will be cancelled. I keep calling to speak with a representative that actually has some common sense about home loans but we can not even get a competent person on the line that can either help or know how to work a phone when transferring us to the right department. They have lied to us multiple times saying they will call back and they won't. I have left message after message and no return phone calls.
|
| 03/16/2018 |
Yes |
|
- Trouble during payment process
|
|
Web |
Servicemember |
|
on XX/XX/XXXX I got a call from PennyMac about lowering rate and lowering my payment. When I called in I was told that I could not lower my payment because it would cost to much. This is not the first time they have called and said that they would lower my rate and payment and told me after I called them back that they can't do it. On XX/XX/XXXX I was very clear with PennyMac that I no longer wanted any communication phone, email or mailed unless it was my statement and to cease all communication. I was told they would note the account and was told to have a nice day. on XX/XX/XXXX I got an email from PennyMac asking me to call them back to lower my rate once again. When I called in to ask why they are still sending me emails I was told that the agent had no idea and that he could clearly see that the account was noted to no longer contact me.
|
| 06/07/2023 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
|
- Problem with a credit reporting company's investigation into an existing problem
- Their investigation did not fix an error on your report
|
|
Web |
|
|
It is my understanding that per 15 USC 1681 ( a ) ( 2 ) ( A ) ( i ), my consumer report should not contain information solely as to transactions or experiences between the consumer ( me ) and the person ( you ) making the report. Payment history and the late payments associated with payment history negatively impacts my consumer report and are considered as part of my transactions and experiences between your company and me.
Please update this account : PENNYMAC XXXX Balance Owed : {$200000.00} Furthermore, I am requesting that you provide me with, in writing, the reasonable procedures ( according to 15 USC 1666 ( b ) ) that you have adopted to ensure that each periodic statement is mailed to me ( the consumer ) not later than 21 days before the payment due date. Include also, all the information required by Section 1637 ( b ) of Title 15.
|
| 08/04/2021 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Applying for a mortgage or refinancing an existing mortgage
|
|
Web |
|
|
On XX/XX/30, I received an email from PennyMac about lowering my interest rate on my mortgage currently with them. I spoke with a loan officer XXXX XXXX and asked him about fees. He said because I was a current customer that it wouldn't cost me anything. I specifically asked about what it would cost multiple times and he said I would pay nothing. I asked if the fees were rolled into the principal and he say no. He said they take it from escrow but then add it back to escrow on the back end.
Because he explained there was no cost, I applied and he pulled my credit report but then later said there was {$6500.00} in fees.
I have left multiple messages a day for XXXX XXXX, his supervisor XXXX XXXX and another manager XXXX. No one has returned my calls.
I would like the credit inquiry reversed since they obtained it under false pretentions.
|
| 12/04/2023 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
- Escrow, taxes, or insurance
|
|
Web |
|
|
I have a duplex in XXXX Connecticut that is mortgaged by PennyMac mortgage co. I have insurance on that property from XXXX XXXX XXXX. Every few months I get a letter saying I don't have insurance. I call them, they say oh I see the issue we will fix it. They tell me its fixed and it never is. I have tried to deal with this at least 10 times over 3 years. Each time I'm told its resolved and a few months later it happens again. They have even purchased insurance on my behalf out of my escrow fund even though I have shown time and time again the issue is on their end. Most recently, they just didn't pay my premium causing my insurance company to drop coverage. Now my property isn't covered and I may end up paying more for insurance. I can not keep doing this. I pay my mortgage, I have insurance, I feel like I'm being harassed!! Please help me!
|
| 11/10/2021 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
|
|
For two years in a row, PennyMac has not paid my Escrow for insurance on my house in time. The first time in XXXX, my insurance was cancelled and ultimately resolved.
This year in XXXX, I have received a call from my insurance company that my insurance was suspended do to lack of payment. After contacting PennyMac, it turns out that my payment was not mailed out and that they would take care of it. Payment was eventually made ( after 5 hours of my time back and forth with the insurance company ), but it should not be the responsibility year over year to be a go-between to make sure payments are made.
When I ask XXXXXXXX XXXX about the calls and letter that PennyMac mailed, they have no record, PennyMac hasn't provided me any details of them calling XXXX XXXX and or the company they represent XXXX XXXX.
This can cause harm to my credit.
|
| 10/08/2018 |
Yes |
|
- Trouble during payment process
|
|
Web |
|
|
I continue to keep getting the run around on when they state they can remove the mortgage insurance on my mortgage. At first they said after 5 years and then they changed it to state that the loan to value ratio had to be a certain amount but I know my LTV is well within the parameters. I continue to get phone calls from them disguised like they have decided to now remove it and just need to speak to me to get some things worked out when it then turns into a marketing scam to get me take out a line of credit or borrow on all of the equity I have in it. I get them so often now and they are so sneaky when telling me what they want that I have become to doubt them and think that I may really be able to have that mortgage insurance taken off now. I want to know exactly what the rules are regarding the mortgage insurance and what my options are.
|
| 03/23/2021 |
Yes |
|
- Applying for a mortgage or refinancing an existing mortgage
|
|
Web |
|
|
Last year we had a 6month forbearance on our Mortgage. Now we are trying to refinance in order to save money and move from a FHA loan to a conventional loan. I am told there is a FHA LEIN on mortgage to the tune of just over XXXX. We requested forbearance amount to be placed on back of loan - however by paying this amount back in full, ontop of refinancing principle balance will exceed the original amount of the loan to begin with. If this amount is repaid, it should reflect in principle loan amount decreasing not increasing by the XXXX. Currently mortgages is at XXXX, so paying this should reduce mortgage payoff amount, not add to total mortgage. This is paying the forbearance amount twice if refinanced - once to FHA and once to my current Lender, with out it ever impacting my actual loan amount. Please help resolve this issue! Thank you.
|
| 08/08/2015 |
Yes |
- Mortgage
- Conventional fixed mortgage
|
- Loan servicing, payments, escrow account
|
|
Web |
|
|
Mortgage Servicer : PennyMacUSAXX/XX/2015 ( approximately ) : I called PennyMac to check if I had met the criteria for removal of PMI from my loan.
XXXX/XXXX/2015 : I sent a note via servicer 's internal messaging service on their website inquiring about the status of the request.
XXXX/XXXX/2015 : Service responded to message stating I should allow up to 7 business days from the original request.
XXXX/XXXX/2015 ( approx. ) : I called PennyMac to check on the status. I was told to allow up to 10 business days.
XXXX/XXXX/2015 : I sent another message via PennyMac 's messaging system requesting a resolution to my request.
XXXX/XXXX/2015 : PennyMac sent message stating I should allow an additional 7 days to receive a response.
It has now been over XXXX weeks for a request that according to their policy should have taken 7 business days.
|
| 01/15/2022 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
Older American |
|
In late XX/XX/2021 I requested that the " pmi '' be removed as this will help me financially as I prepare for retirement. I was advised that a payment requirement of approximately XXXX XXXX would be required plus an appraisal of my home or a higher amount if I chose not to have an appraisal of my property. On XX/XX/2021, I received a letter stating - " Your payment history reflects payments 30 days or more within 12 months and 60 days or more past due within 24 months ''. Therefore, this is the REASON FOR DENIAL. There was no mention of this on my initial call at which time they were ready to take a payment from me for a " no visit '' appraisal. PennyMac has not provided me with any documentation that if I was " late '' at any moment in time that I could not qualify for this reduction. I wish to have the " pmi '' removed from my mortage.
|
| 03/21/2018 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
|
- Problem with a credit reporting company's investigation into an existing problem
- Was not notified of investigation status or results
|
|
Web |
Servicemember |
|
I have my payments set on auto-pay so that I know I can pay on time. The loan company published on my credit report that I was 30 days late on payments. They didn't call me until after it was reported on my credit that I was late on a payment. I called and told them it was wrong information and that I had recently move. they didn't try helping me by giving me a late forgiveness since I've always paid on time. I would like to continue with this company, I just feel I'm not currently being treated fairly. The payments are due on the first so I have my accounts to pay on time. for some reason they had issues pulling money but didn't tell or contact me till after I was late. Whenever I check the account, I always see their withdrawal. Then they didn't even tell me that I had another payment due, then called me once it was past due and late.
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| 02/20/2018 |
Yes |
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- Struggling to pay mortgage
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Web |
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I have requested a mortgage modification with my mortgage company XXXX XXXX.
My hardship is my son was shot though and criminal act in the city of XXXX Tennessee XX/XX/XXXX and he still is under doctor care. My adult son does not have insurance and I'm responsible for his recovery.
I provided PenneyMac the {$58000.00} hospital bill stating the bill was self pay and it reflects my son was XXXX. The mortgage company is refusing to accept this documentation because my adult son 's address if different from mine. My son name is XXXX XXXX XXXX and he is currently living with me until he is able to take care of himself. My relationship manager is XXXX XXXX has refused to return my call or speak with me regarding the status of my modification request when I call, as of XX/XX/XXXX. I was informed by customer service she has closed my file.
.
|
| 05/15/2015 |
Yes |
- Mortgage
- Conventional fixed mortgage
|
- Loan servicing, payments, escrow account
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|
Web |
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I 've called XXXX now to PennyMacLoan Services to get my monthly statements corrected. They send the monthly statement towards the end of the month, the payment slip that I un-attach to send with my payment is for the previous month. Example : the statement that I received at the end of XXXX that was supposed to have the payment slip say Due XXXX/XXXX/2015 for the XXXX 2015 payment says XXXX/XXXX/15. It 's like they are a month behind.
I 'm not behind on ANY of my payments. I 've called them XXXX and no change.
Also, I spoke to a rep today at Penny Mac Loan Service and I 've never ever made a payment on the phone and somehow, they have someone else 's routing information on my account and the rep asked me to give her my new routing numnber and account number. I got suspicious and I told her that i would send a cashiers check instead.
|
| 04/26/2022 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
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- Incorrect information on your report
- Account information incorrect
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Web |
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This company is fraudulently reporting a late payment on my credit report. This company offered me XXXX XXXX which I accepted for a period of 3 months. At the end of the forbearance period I voluntarily resumed making normal monthly payments and then shortly after paid back the 3 months due for the forbearance period. This company has ruined my credit and refuses to acknowledge their mistake. They claim that I needed to physically sign documents to get off the forbearance program even though they allowed me to enroll without physically signing anything and just enrolling online. I have supporting documentation from my bank indicating the constant monthly payments to this vendor. I need them to remove this false late payment claim off of my credit report. I contacted them several times to remove the false late payment and they refuse.
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| 01/04/2019 |
Yes |
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- Trouble during payment process
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Web |
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XX/XX/XXXX : PennyMac Loan Services, LLC, XXXX XXXX XXXX, XXXX XXXX, XXXX XXXX, CA XXXX, XXXX. NMLS ID # XXXX provided payoff statement on XX/XX/XXXX for XX/XX/XXXX. The amount was {$190000.00}.
XX/XX/XXXX PennyMac Services, LLC received the wire transfer on XX/XX/XXXX XXXX XXXX XXXX has confirmed that PennyMac has received the Payoff ( {$190000.00} ) on XX/XX/XXXX at XXXX EST.PennyMac did not provide a written final payment statement after request.
XX/XX/XXXX to XX/XX/XXXX Pennymac has not applied for the payments correctly and closed the loan.
PennyMac has not responded to the written emails.
PennyMac has not provided the final statement and the ETA to release the lien.
Customer Complaints : Applying your payments correctly, Misreporting mortgage account status to you or to credit reporting agencies, Paying additional fees
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| 12/12/2019 |
Yes |
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- Trouble during payment process
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Web |
Servicemember |
|
I made a payment in XXXX and over paid by {$160.00}. I called to make my payment in XXXX and asked if they could apply the {$160.00} to my current months payment. The representative did this and processed the payment in my account. I then the next week started to get collection calls from them. I spoke with a representative and was advised my payments had not been made. I was then told that there was a glitch in the system and my payments were lost. I have called everyday almost trying to figure out what they did to my payments. I am now told on the call I am delinquent but they are working it out and will now take 20 days to resolve my payment issue. I call them and it takes at least 45 minutes to get someone on the line. They even have the nerve to go over foreclosure info with me like I am about to lose my home due to there error
|
| 06/11/2019 |
Yes |
- Debt collection
- Mortgage debt
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- Written notification about debt
- Didn't receive enough information to verify debt
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|
Web |
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On XX/XX/2019, PennyMac Corp, was served with a copy to our qualified written request under RESPA. Pursuant to the Section 6 of the Real Estate Settlement Act, a servicer must acknowledge receipt to the request within 5 business days. As of today XX/XX/2019, PennyMac Corp has yet to acknowledge our request and therefore are in violation of RESPA. We are requesting the following questions under the Real Estate Settlement Procedures Act 1. Is XXXX XXXX an employee of PennyMac Corp? If yes, when did her employment started and ended?
2. Is XXXX XXXX a representative of XXXX XXXX?
3. Is XXXX XXXX authorize by XXXX XXXX to endorsed notes on behalf Penny Mac Corp?
4. Is XXXX employed by PennyMac Corp or XXXX? Does she have power of attorney or corporate resolution reflecting her capacity as an endorser for either PennyMac Or XXXX XXXX?
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| 05/24/2016 |
Yes |
- Mortgage
- Conventional fixed mortgage
|
- Loan servicing, payments, escrow account
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|
Web |
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My original mortgage loan was sold to PennyMac mortgage servicing company several years ago. Ever since several times a year I receive harassing phone calls and letters from the company demanding that I send insurance verification or some other documentation that is not even my responsibility to obtain. Even worse, when I go out of my way to have the documents sent, they continue to barrage me with calls and harass me about it. When I finally got someone on the line and explained that it had already been sent, they spend 15 minutes looking and found the requested document. So even when I provide what they are asking for at great inconvenience to me, they do n't process it and continue to harass me over it. They should get the documents directly from the HOA and not harass me seveal times a year when the insurance policy is updated.
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| 02/29/2016 |
Yes |
|
- Application, originator, mortgage broker
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|
Web |
Servicemember |
|
XXXX XXXX Account Executive, XXXX # XXXX XXXX XXXX Processor, Retail PennyMac Loan Services , LLC Both reps were rude and not friendly. They scheduled a closing date and tim, XXXX XXXX, 2016 at XXXX XXXX. No one showed up. Nobody called to cancel or to reschedule. I called to speak to a manager. It has been four days and no one has called. I have XXXX different closing disclosures. The XXXX one has me borrowing almost a thousand dollars more than what I owe. Plus all the loan costs have changed. The loan costs, other costs have all changed. WHY? One disclosure shows Title insurance went from {$400.00} to {$400.00}. Why have all the figures for each specific loan cost changed? Seems to me they are just playing with the numbers to fool me into signing. I NOW FEEL LIKE I CAN NOT TRUST THESE PEOPLE AND WANT TO CANCEL THIS REFINANCE.
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| 04/26/2023 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
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|
Web |
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I tendered a payment in the form of a negotiable instrument to the CFO XXXX XXXX in the amount of {$180000.00} dated XX/XX/2023 via certified mail # XXXX received XX/XX/2023. I also remitted another negotiable instrument to their remittance department the same time I sent the first to the CFO, also did not receive acknowledgment or receipt of my payment. I followed the laws according to FL Statute Chapter 673 when tendering the negotiable instrument. I did not receive it back, receive credit to my account or received notice that my instrument was incomplete. I instructed him to write me a letter within 5 days of delivery and he failed to do so 3 times now. Pennymac has now filed a lawsuit in the courts on XX/XX/2023 despite being paid in full. I have also made a complaint to the OCC and attorney general in the state of Florida.
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| 11/15/2019 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
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|
Web |
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I was served a delinquent tax notice by XXXX County, Delaware dated XX/XX/19 for unpaid taxes to the county that were due on XX/XX/19. PennyMac Loan Services , LLC is responsible for making this payment along with the City of XXXX, DE tax payments from my escrow account in a timely manner. I confirmed that this was the case by calling the XXXX County Collections Division as soon as I received the notice. I also called The City of XXXX to see if PennyMac paid taxes owed to them and the accountant confirmed that PennyMac had not paid the city taxes and that the payment was overdue, also. Starting XX/XX/19 I began making weekly ( at least ) calls to PennyMac with the last call being made today ( XX/XX/19 ). I have explained the issue every time I call to the customer representatives, and yet, the issue has still not been resolved.
|
| 03/05/2020 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
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Web |
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I received an annual pmi disclosure letter. After reading it and doing the math I contacted the lender to confront them with the fact that I had been under 78 percent of the original home value for at least a few months. I was given the run around that my complaint must be sent to someone else with no promise of fixing the problem and agreeing to nothing on my end. I realized I had been billed again for pmi in XXXX. I contacted the lender again and got the run around about company policy not allowing a refund of what I was overbilled on pmi. Penny Mac is claiming I am not owed the back pmi based on a document that was signed at closing. I don't understand how this document would be binding if auto termination is required at 78 percent. Could you please help me determine my rights under the Homeowners Protection Act. Thank you.
|
| 02/29/2016 |
Yes |
- Mortgage
- Conventional fixed mortgage
|
- Loan servicing, payments, escrow account
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|
Web |
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I paid my monthly mortgage payment to PennyMac on time. They applied the entire amount to a one-time principal paydown instead of my monthly payment. My next statement showed late fees and that my loan was in arrears. I made at least two calls to their customer service center to clear up their mistake. I then got another letter from PennyMac stating that my loan was not current.
I requested and was promised a call from a supervisor, which never occurred. I also requested and was initially denied a written communication from PennyMac stating that : a ) the error had been corrected ; b ) my loan was in fact current ; and c ) my credit rating had not been affected.
Since I have neither received a call from a PennyMac supervisor nor a written communication, I am contacting CFPB to ensure that my credit rating is not impacted.
|
| 10/04/2022 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
|
- Incorrect information on your report
- Account information incorrect
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|
Web |
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XXXXXXXX XXXX XXXX I moved into a forbearance with my mortgage. I was assured that my credit would not be affected. XX/XX/XXXX they reported my balance had increased {$3400.00}. No information was sent to me on why it was increased. XX/XX/XXXX my escrow and mortgage was brought current since the forbearance has ended. After several fights of XXXX saying my mortgage did not increase and they never reported to my credit they lied and they did report to my credit. There is no Documation that my mortgage increase only that I was in a forbearance plan and the entire balance has been paid and on time. No one will give me answers as to why XXXX reported my balance as increasing. The recorded conversation on XX/XX/2022 of me asking for this information I was told they could not send me any information because they did not report it.
|
| 12/12/2023 |
Yes |
|
- Trouble during payment process
- Interest rate
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|
Web |
Servicemember |
|
XX/XX/2023 - I submitted SCRA benefits package for SCRA benefits to be applied to a recent home loan.
XX/XX/2023 - Received a letter from PennyMac stating I was not eligible for SCRA benefits as the loan originated after my initial entry into the military. I responded to the message stating Louisiana had laws in place that covered servicemembers regardless of entry date in relation to loan obligation. I am living and working in Louisiana due to military obligation ( PCS orders ).
XX/XX/2023 - Received message from PennyMac re-iterating I do not qualify for SCRA benefits in this case.
I have received SCRA benefits for my car loan ( XXXX ) as well as three credit cards and also know of another member that has received benefits for her mortgage with XXXX XXXX.
I am hoping to get some clarity/resolution on this matter.
|
| 02/12/2019 |
Yes |
|
- Trouble during payment process
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|
Web |
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My Loan was recently sold to PennyMac. I am noticing the payments I send to my account aren't being credited but instead held in escrow. Also since they purchased my loan I have racked up roughly 200 dollars in fees. Namely, property inspection fees for a total of {$180.00} since receiving my loan from XXXX XXXX. The fees are {$75.00} date XX/XX/XXXX/19 another {$75.00} fee on the same date XXXX/XXXX/19 for " property preservation ''. I also see fees of {$15.00} on XX/XX/XXXX/2019 for " property inspection fees '' and another fee on XX/XX/XXXX/19 for " property inspection fees ''. I have sent enough payments to bring my loan current but seems they are not crediting me but instead holding the money in escrow. I am not sure why. I have read a lot of complaints and also I have personally experienced horrible customer service.
|
| 02/05/2018 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
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- Problem with a credit reporting company's investigation into an existing problem
- Their investigation did not fix an error on your report
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|
Web |
Older American, Servicemember |
|
On Tuesday, XX/XX/XXXX I mailed my XX/XX/XXXX payment via Standard delivery. The payment was not credited to my mortgage account until Thursday XX/XX/XXXX, 9 business days after it was mailed. As a result, PennyMac is reporting my Mortgage account as 30 days late for the XX/XX/XXXX payment. Per the United States Postal Service website, average time for First Class and Standard delivery is 1-3 days. I have spoken to a PennyMac representative several times - onc e in XX/XX/XXXX and several times in XX/XX/XXXX, disputing their reporting of my mortgage account. They refuse to take responsibility for the delay in posting my payment, and continue to place the blame on the United States Postal Service for the delay. I have never been reported as late on my payment, and have previously mailed my payment the last week of the month.
|
| 06/24/2016 |
Yes |
|
- Loan servicing, payments, escrow account
|
|
Web |
|
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Since XXXX we have paid our mortgage that includes an escrow account for property taxes and home owner insurance. In XXXX XXXX sold the home loan to Penny Mac and they continued to pay the home owner insurance policy that is until XXXX. Our home owner insurance company closed the policy for non payment with no call or email to notify of the situation. Furthermore we paid in XXXX XXXX a escrow differential to cover an increase on the policy supposedly. XXXX XXXX company would not reinstate the policy and when I call Penny Mac they blame us and we asked them where is the money we pay every month towards the escrow, they say " oh, it 's sitting there. This is clearly a case of mortgagee error. Penny Mac has to admit error and apologize and do whatever it takes to reinstate my home owner insurance at no additional cost to us.
|
| 08/10/2021 |
Yes |
|
- Trouble during payment process
|
|
Web |
Servicemember |
|
Pennymac bought my loan in XX/XX/2021 and immediately lost my first check.
I XXXX the second check which they received on XX/XX/2021.
I made a one time electronic payment to make sure the XX/XX/2021 payment was made.
Pennymac STILL has not cashed the check they received on XX/XX/XXXX. They said it could take up to five business days to cash the check.
Pennymac claim to have begun processing of the check on XX/XX/XXXX, and read to me my check number and an internal tracking number. My bank routinely processes my checks and has received nothing even though Pennymac claims to have begun some processing procedure internally in their company.
They have received payment and it is Pennymac 's responsibility to cash the check. I and my bank have done nothing wrong. Pennymac must cash the check and keep my account current.
|
| 01/24/2020 |
Yes |
|
- Trouble during payment process
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|
Web |
Servicemember |
|
I am XXXX XXXX XXXX XXXX. I choice to utilize my VA option for my home loan/purchase. I originally received my home loan through XXXX XXXX XXXX XXXX, they then transferred my loan to Penny Mac, this last XX/XX/2019, they performed an escrow analysis. My monthly payment went up by around {$540.00} dollars a month, original payment was {$1500.00} now it is {$2000.00} I feel this is super inflated for escrow when it should have been rolled into my original monthly payment as agreed when I took out the loan for my home. I have called several times, and have been in email communication with them as well. I provided them tax statements, insurance totals, homestead, everything to show what has been included for escrow. Bottom line, not many people can afford a {$500.00} increase in their mortgage payment every month per year.
|
| 03/14/2022 |
Yes |
|
- Struggling to pay mortgage
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|
Web |
|
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On XX/XX/2022 I applied for assistance to get my mortgage paid. I was approved but my mortgage company pennymac is not partner with mshda-mihaf program so I am unable to get assistance. I was told by the program to contact my mortgage company to have them participate in the program. They act like they didn't understand and just telling me to tell mshda to just send yhe payment, i tried to explain the situation but no results. This program is willing to assist me with mortgage I am about to get laid off from my job and I know I do not get unemployment because I just started I need this assistance. Because I am on a modification right now and I can not afford to lose my home. Covid has put me behind alot, I just can imagine any one else in Michigan who has pennymac and can not get assistance and the money is available.
|
| 06/01/2023 |
Yes |
- Mortgage
- Other type of mortgage
|
- Trouble during payment process
|
|
Web |
|
|
Pennymac refuses to release the insurance claim funds without monitoring. The process they are forcing has cause 1 month of additional damage to my home as I can not get a contractor to start the work on the home without the funds for materials.
I have expressed the pennymac my difficulties with the online portal, also my financial difficulties with the extent of damage to my home. They will not release the funds, and the funds required to repair my home will far exceed the current estimate due to the delay and the fact that tarps are laying across my home.
They are the mortgagee but I have to live in this home, mold is starting to form. My insurance says it's my fault, since they have paid. Contractors that have already performed work have not been paid.
This feels like retaliation for my previous complaint.
|
| 01/18/2020 |
Yes |
|
- Struggling to pay mortgage
|
|
Web |
|
|
at the beginning the payment was too high the payment was at XXXX a month me and my dad we do make that amount but it would take every thing we have also I have been tiring to remove my sister of the loan the XXXX co said it could if the loan was current but that is a problem we are both working part time and on social security the bank told me to have her give paystubs and other documents of hers but she will not sign she feels should not have to because is not living in that home please let me know if you can help me the loan was with a different bank at the beginning and was transferred over when the other bank had the loan they said I did have to use her name if she was not contributing or not living in the house but the new bank said I still do is there any way to still go and by pass her off thanks XXXX XXXX
|
| 12/04/2015 |
Yes |
|
- Loan servicing, payments, escrow account
|
|
Web |
Servicemember |
|
I received a complaint from my mortgage company that the monthly payment for my mortgage loan has not been received for two months and if not received my house will go into foreclosure and i need to submit two payments including late payment fees immediately. I pay online through my credit union and when I check the monies have been deducted from my account on time. So I call the mortgage company and tell them that according to my checking account that they should have the money and their should not be any late fees. The representative tells me that even though my account may have paid the company may not have received the payment on time. I asked if they received the payments and he stated that my account has not been paid yet. So I contact my Credit union who tells me that the issue was handled by a phone call.
|
| 08/29/2022 |
Yes |
|
- Trouble during payment process
|
|
Web |
|
|
I applied for the Home Assistance Fund Program and was approved for forward payments for 17 months. The payments started on XXXX. I am having issues with my mortgage company " Pennymac '' because they are applying the payments to my principal instead of my monthly payment and they are now refusing to do a reversal and apply the payments from XXXX to my Monthly Mortgage payment even though they are aware that it should go to the monthly payments. If they leave the money towards my principal, then I will still need to make my monthly payment and that defeats the purpose of me getting the assistance that I need since I am unable to make my monthly payments.
They already have a copy of my award letter and are fully aware that I was approved for my monthly payments and are refusing to help. Thank you in advance.
|
| 07/03/2018 |
Yes |
|
- Struggling to pay mortgage
|
|
Web |
|
|
I called my mortgage company, PennyMac USA, about my Loan ( XXXX ) on XX/XX/2018. I'm currently unemployed and asked for a short-term forbearance because I'm struggling to make my payments. I was rejected because I paid XX/XX/2018 and wasn't in default. They said I didn't qualify for a short-term forbearance because I wasn't 3 months behind in my payments.
I told them I'm trying to be proactive and let them know that I'm struggling financially, but actively looking for full-time work. They said I needed to be 3 months without payment before I could qualify to " not pay. '' I'm afraid that if I don't pay for 3 months, they'll start the foreclosure process.
Please help. I want to remain in good standing, I'm looking for full-time work, but I need a short term forbearance while I regain income.
Thank you!
|
| 10/29/2016 |
Yes |
- Mortgage
- Conventional fixed mortgage
|
- Loan servicing, payments, escrow account
|
|
Web |
|
|
PennyMac took my XXXX mortgage payment from my bank account on XXXX/XXXX/16. On XXXX/XXXX/16 they sent me a letter telling me that I had n't made my loan payment. Today, XXXX/XXXX/16 I logged into the bank account to verify the payment was taken and it was. Then I logged into my account on PennyMac and it still shows that I have n't made my payment. This happens with PennyMac every year and this is not my first complaint about their payment processing methods. They are threatening my credit and forcing me to spend time on this when I 've already made my payment. This is wrong and illegal to bill me for something I 've already paid. I 'm tired of all the stress involved in having to keep my good credit in order when PennyMac can not stay on top of the payments they take from their customer 's bank accounts.
|
| 12/01/2020 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
Older American |
|
XX/XX/2020 Sold the property and closed on XX/XX/2020. Escrow account had a balance of {$6700.00} and change, due to be reimbursed to me from the lender. According to their policies this check was to be processed and sent to me within 20 days of the mortgage account being closed. They claim a check was mailed on XX/XX/XXXX. This check was never received. They now claim to have sent another check in midXXXX which has also NOT been received. 76 plus days have elapsed from the closing date as of today. I am monitoring all mail via the USPS notification system daily and have not received either of these checks at the old address or forwarded to my new address.
Account information : PennyMac Loan Services ; account # XXXX ( closed XXXX address : XXXX XXXX XXXX, XXXX XXXX TX XXXX XXXX XXXX XXXX XXXX XXXX XXXX
|
| 05/03/2015 |
Yes |
- Mortgage
- Conventional fixed mortgage
|
- Loan servicing, payments, escrow account
|
|
Web |
|
|
My mortgage banker was PennyMac Mortgage in XXXX XXXX, XXXX XXXX XXXX and XXXX ( current mortgage ) paid Penny Mac {$150000.00} to a principal balance of {$150000.00}. Penny Mac insisted that a refund check was issued on XXXX XXXX, I got XXXX for {$60.00}, that is all. Other than this I have made extra payments in XX/XX/2014 for XXXX and XXXX payments of {$250.00} in XX/XX/2014 which were never applied to the principal. I have requested several times for a summary of all payments made by me from XX/XX/2013 to XX/XX/2014 and never received this. What kind of a mortgage company is Penny Mac hoarding the money of a poor homeowner who was never late in making payments, biweekly drawn by Penny Mac from my checking account. This was simple mortgage no insurance or taxes included, I pay for these out of pocket.
|
| 04/02/2022 |
Yes |
|
- Trouble during payment process
|
|
Web |
|
|
Complaint is against PennyMac loan services When I bought my home in XXXX initially, I was told that my loan is fixed and the said amount I am paying XXXX approximately. I was my first time buying a home. Overtime this XXXX has a bad dubious business practice. They continue indiscriminative escalate my monthly payment without justification why my monthly payment continues to increase discriminately. Today as of now the hick to XXXX? The sad practice is that the actual amount that goes to my principal is extremely low. Imagine XXXX out of the XXXX $ dollars goes for my principal. The worst still they have been asking me to refinance my house claiming that will provide me an opportunity to saving XXXX XXXX In other words, they arbitrarily hick the prices then ask me to refinance in other to saving money?
|
| 04/21/2017 |
Yes |
- Mortgage
- Conventional fixed mortgage
|
- Loan servicing, payments, escrow account
|
|
Web |
|
|
I refinanced my mortgage. I originally had PMI on the mortgage. But after the refinance there would no longer be PMI. My loan was paid off XXXX XXXX . On XXXX XXXX the mortgage company took out a PMI payment for XXXX , since it is always paid in arrears. Then, again, on XXXX XXXX the mortgage company took another full PMI payment, this XXXX for the month of XXXX . I challenged that since I only had the loan for 4 days in XXXX and I believe that month should be prorated. The mortgage company argues that I have to pay for the full month yet the can not provide me with documentation for my loan where this is allowed or where this is even legal or where I ever signed any type of acknowledgment of this practice. I am requesting a refund of my {$180.00} prorate for the month of XXXX .
|
| 05/12/2021 |
Yes |
|
- Trouble during payment process
|
|
Web |
|
|
We applied for a loan modification and completed our 3 trial payments in a timely manner. Our final documents for loan modification were mailed in late XXXX, and we paid for a notary to complete service. PennyMac advised they sent incorrect documents due to minor capitalization error several weeks later, and the sent a mobile notary due to our inconvenience. Here we are 2+ months after the loan modification should have been finalized and Penny Mac sent revised documents due to another internal capitalization error and is refusing to send out a mobile notary for us to sign. I have contacted PennyMac over the phone at minimum 2x week over the past 2-3 months to ensure we are current and no additional action needed on our end. Their loan modification department is a mess and unable to properly advise.
|
| 04/25/2017 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
|
|
I originally received a mortgage loan from XXXX XXXX and they then sold the loan t o Penny Mac . At the time that I received a mortgage loan from XXXX XXXX , my new home appraised for XXXX . The home was sold to us for XXXX and we put about 60000 down. Therefore, based on the appraised value, we were starting off with a loan-to-value ratio of a bout 0.68. N evertheless, when my loan was sold from XXXX XXXX t o Penny Mac, I should not have had to pay for Private Mortgage Insurance ( PMI ) seeing that I already had a n LTV of 0.78. Penny Mac has said that I need to pay for another appraisal or a buyer 's purchase opinion in order to remove the PMI from my account. My appraisal is a little over 4 months old and Penny Mac insists that the appraisal that I have be 90 days old or less.
|
| 07/26/2022 |
Yes |
|
- Trouble during payment process
|
|
Web |
|
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I purchased a home in XXXX of 2014 my mortgage loan is with Penny Mac. I didn't have the full 20 % down payment at the time so my mortgage needed to have PMI. I have accrued more then 20 percent equity in my home but Pennymac refuses to help me remove my PMI. The only option they offer me is to refinance my home and take out some of my equity. I do not want to refinance my home since my interest rate is low furthermore I would have to pay for closing costs. I believe that's the reason they keep pushing me to refinance my house. I get calls almost daily from Pennymac trying to convince me to refinance and when I tell them I just want to get the PMI taken out they tell me the same thing ( it cant be done ) I appreciate any help with this matter.
XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX FL XXXX XXXX
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| 11/15/2019 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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I keep making extra payments to PennyMac which are stipulated to be applied to the principle. I have automatic payments monthly which have NOTHING to to with the EXTRA payments that I am making. Repeatedly since at least XX/XX/2019 PennyMAc has been reversing my extra payments. The money is taken out of my bank account and into PennyMac and applied to my principle for a day and then REVERSED. The money is NOT put back in to my bank account and I have NO idea where it is. I have contacted PennyMac MULTIPLE times about this and they keep doing it. I have written many times online and I have called MANY TIMES. I have spoken with XXXX, XXXX and XXXX to name a few. I demand that PennyMac appropriate my funds as allocated and I demand that I get adjustments for any interest accrued from their mistakes.
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| 11/16/2023 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
- Escrow, taxes, or insurance
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Web |
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Every time we have had taxes due, XXXX yearly for the past XXXX years going on XXXX, our mortgage company ( Pennymac ) has missed the payment XXXX XXXX times now ). When we have brought this issue to their attention, they give us a generic response. They state that they know the due dates and will make the payment before it is due. However, every date has been missed, resulting in receiving a delinquency letter from the city, along with a fine for being delinquent. Additionally, the loan servicer has completely mismanaged our escrow account and it is below where it needs to be as a result. This has caused our mortgage payment to increase {$600.00} a month. Overall we have very little faith in this company managing our mortgage for the next 28 years due to these huge oversights on our account.
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| 11/22/2023 |
Yes |
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- Trouble during payment process
- Trying to communicate with the company to fix an issue while managing or servicing your loan
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Web |
Servicemember |
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XXXX XXXX XXXX XXXX, after I thought I had changed my auto pay accounts, I was charged a late fee, I paid it. I would get emails saying my payments were received when in fact they were only being processed, has caused me confusion on if the payment has actually been applied to the loan.
I attempted to get it figured out, the online platform is confusing, again in XXXX I am having issues. I requested to only get physical paper communications or communications from a human being not misleading auto generated emails.
After saying " We appreciate your patience while awaiting our response. Our management has reviewed your request. As you requested, your account has been updated to reflect your opt out preferences. Thank you, XXXX. '' I continue to get confusing/misleading auto generated emails.
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| 07/10/2018 |
Yes |
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
Servicemember |
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On XX/XX/2018 I was getting calls from PennyMac to reduce my interest rate however they could not do it due to the type of loan that I had. I requested that they no longer contact me and did request that they cease all communication going forward. I still kept getting calls and letters from them and made a report with CFPB XXXX. The report was taken and sent to XXXX XXXX. on XX/XX/2018 XXXX XXXX did respond and stated that they would remove me from marketing list but didn't mention anything about the request to cease communication. Today XX/XX/2018 I got a call from XXXX XXXX from phone number XXXX asking if they could lower my rate. I asked the agent if he saw on my account that they should not be calling me for marketing and he said that he did see that on my account but they called anyways.
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| 03/06/2020 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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My insurance company mailed my mortgage company a renewal invoice on XX/XX/2020. The mortgage servicer held the invoice until XX/XX/XXXX before cutting a check. That check # XXXX was not placed in the US mail until XX/XX/2020. Today I received a 10 day cancelation notice form my insurance company for non payment. I contacted PennyMac the mortgage servicer they are saying it takes 10 business days before they will do anything. After that point they will verify the check has not been cashed issue another and overnight it. That will take 5 business days. At that point my insurance will have expired. PennyMac further told me I have 30 days grace period before the insurance company will cancel. The 10 day cancellation notice is clear from my insurance company my policy will expire XX/XX/2020 XXXX.
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| 07/02/2016 |
Yes |
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- Loan servicing, payments, escrow account
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Web |
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I had an ach payment returned in XXXX which I paid as soon as I saw the bank returned it. ( Within a few days ). Not only did this mortgage company charge a return check fee on an ach but without telling me put a certified funds only hold on my account. I have been trying to make my payment for the past 2 weeks and they refuse to accept it. They want me to spend more money and send it by XXXX XXXX. I offered my debit card and told them they could run it because if they were worried about the money not being there they would know with me on the phone because my debit card wo n't work if the money is n't there but that I have the money & I 'm just trying to pay them. Even the supervisor said they ca n't accept my payment. I am worried that I may lose my house because I am now over 30 days late.
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| 02/11/2020 |
Yes |
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- Trouble during payment process
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Web |
Servicemember |
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PennyMacUSA notified me Forced Placed Insurance was going to be bought and placed in the ESCROW account unless proof was provided Wind & Hail coverage was or has been purchased. ( I live in a coastal region ).
My wind and hail policy did elapse, and I bought new insurance and provided that information to PennyMacUSA once I received the first letter from them.
However, according to a follow up letter I received XX/XX/XXXX and a phone call I had with them, PennyMacUSA will still backdate the Forced Placed Insurance between XX/XX/XXXX and XX/XX/XXXX, and charge the escrow account {$1100.00}.
I do not see a legal basis or anything in the mortgage contact for backdating and instituting a fine for insurance being lapsed. It makes sense on a forward basis, but insuring the past is not insurance.
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| 06/25/2020 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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Pennymac has fraudulently tried to charge me for insurance on a loan without an impount account. I have always paid the taxes and insurance myself. I have had insurance the entire period and provided the proof multiple times when requested. Pennymac claims they paid for insurance as the lender, but will not provide the invoice they paid or even provide the name of the insurance company they paid.
Now they have failed to apply my regular payments, they are charging me interest and late fee penalties even though I have paid the monthly amount required by the note every month and can document the payment.
Please have then stop trying to collect on a debt I don't owe and they can't prove. Have them stop charging interest and penalties even though the loan has been paid on time.
Thanks, XXXX
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| 09/21/2019 |
Yes |
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- Trouble during payment process
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Web |
Servicemember |
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In XX/XX/2019 I made a mortgage payment to XXXX XXXX Loans. I did not realize that XXXX XXXX Loans was the new servicer. XXXX XXXX Loans did not forward my payment to XXXX XXXX Loans until XX/XX/2019. By that time my loan was sold to XXXX. XXXX began servicing the loan on XX/XX/2019. I have reached out to all three companies repeatedly for several months ( via phone and email ) and provided proof of payment but no one has been able to get my payment recorded properly. I am XXXX XXXX military ( XXXX XXXX ) and currently on temporary duty assignment away from home. I should not have to continue to reach out to these companies with no resolution. I would like my credit report fixed and any late fees/interest credited to my loan. I believe all three companies are in violation of RESPA and FCRA.
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| 11/16/2023 |
Yes |
- Mortgage
- Conventional home mortgage
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- Struggling to pay mortgage
- Trying to communicate with the company to fix an issue related to modification, forbearance, short sale, deed-in-lieu, bankruptcy, or foreclosure
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Web |
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I have a third party authorized with the lender that is helping me complete the paperwork and help with the foreclosure. The third party called in requesting information about the mortgage and the customer service rep stated that I called in and limited the third party 's access to the information provided. I never called them since my third party was authorized and they did not allow him to get any loan information. The lender lied saying that I called in limiting my third party 's access to information. I also requested my third party to call them to see what options we have to delay the auction so that we can gather the funds to pay them back. The lender did not provide any options and stated that the auction can not be delayed even if we are attempting to make things current with them.
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| 06/28/2023 |
Yes |
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- Trouble during payment process
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Web |
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I secured a mortgage through XXXXXXXX XXXX by my first mortgage payment they had sold my mortgage to Pennymac. First payment due date was XX/XX/XXXX. On XX/XX/XXXX I received a NOTICE OF XXXX XXXX UNPAID PROPERTY TAX FOR 2023. The overdue tax was due XX/XX/XXXX and has incurred {$180.00} in overdue fees. I spoke with Pennymac last week and they said it could take up to 14 days for the m to investigate. I also spoke with XXXX county and if the tax is not paid by XX/XX/XXXX, another overdue fee will be incurred.
Today I received a letter from Pennymac titled " Request for W-9 IMPORTANT TAX NOTICE ACTION REQUIRED by XX/XX/2023 Backup Withholding Warning! '' I don't understand why, with money in escrow for property taxes, they did not pay the tax bill and are now sending threatening letters.
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| 07/01/2015 |
Yes |
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- Loan servicing, payments, escrow account
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Web |
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MY MORTGAGE WAS JUST SOLD/TAKEN OVER BY PENNYMAC LOANS XX/XX/XXXX. I HAVE HAD NOTHING BUT ISSUES WITH THEM SINCE THEN. NOT ONLY HAVE THEY DECIDED THAT MY ESCROW ACCOUNT NEEDS MORE MONEY AND RAISED MY PAYMENT, BUT NOW THEY HAVE NOT PAID MY HOMEOWNERS INSURANCE PREMIUM. SUPPOSEDLY THE CHECK " GOT LOST IN THE MAIL ''. MY INSURANCE COMPANY HAS CONTACTED THEM ATLEAST TWICE A WEEK FOR 3 WEEKS, WITHOUT SUCCESS. NOW POLICY IS SET TO CANCEL IF THE PAYMENT IS NOT RECEIVED BY TOMORROW. MY INSURANCE COMPANY REP GOT ME INVOLVED TODAY, AND AFTER MULTIPLE CALLS, PENNYMAC THINKS THAT THEY CAN SUPPOSEDLY GET ANOTHER CHECK OUT BY MON OR TUES .... SEVERAL DAYS AFTER MY INSURANCE POLICY CANCELS. THEY EVEN SUGGESTED THAT I JUST PAY MY PREMIUM, THEN I CAN GET A REFUND FROM MY INSURANCE AFTER THEY FINALLY PAY.
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| 12/02/2015 |
Yes |
- Mortgage
- Conventional fixed mortgage
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- Loan servicing, payments, escrow account
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Web |
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My mortgage loan was sold to Pennymac Loan Services 5 years ago due to my total loan amount being less than {$50.00}, XXXX. They have been harassing me by calling me every single day, several times a day! Recently they have been charging me a {$15.00} monthly fee to " have someone drive by my home to make sure I still reside here ''. ( Pennymac is based in XXXX XXXX, CA and I live in Oregon, so they claim to have hired someone local to drive by ; I have never been personally contacted by this alleged person ) I have called them in the past to inform them of my hardship situation, but they have told me after speaking to them that this information I provided will NOT stop the phone calls and it has not! Therefore, I see no point in speaking to them since it makes no difference whatsoever.
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| 09/23/2015 |
Yes |
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- Loan servicing, payments, escrow account
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Web |
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I received another letter from PennyMac about flood insurance and not being covered ... They are escrowing my insurances and taxes and the insurance company has sent them renewal notices but they have failed to pay the premium. This is second time I have filed a complaint and went over all this with them ... .My flood insurance has been with the same company going on the 3rd year and address is the same. I had to send them copies by fax Fri XXXX/XXXX/2015 in which they agreed they received it. I have to send them certified registered or fax confirmation for them to acknowledge they received copies of my insurances. My insurance company and agent are tired of the games and so am I. My insurance company tired of sending them copies of coverage and the bills which they do n't pay on time.
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| 04/08/2021 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
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- Incorrect information on your report
- Account status incorrect
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Web |
Servicemember |
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Forbearance plan initiated XX/XX/XXXX. Late payment for XX/XX/XXXX, XX/XX/XXXX, and XX/XX/XXXX, has been paid during forbearance plan. Pennymac is constantly reporting me 60 days late in forbearance, even though all monies are paid, besides whats due during forbearance {$16000.00}. Credit reporting is triggered somehow thru phone calls or payments to Pennymac. If no communication is initiated, then credit reporting ceases. Communication with my mortgage lender, should not trigger negative credit reporting on specific months, when in forbearance. If its consistent, then all months should say 60 days late, but the error comes in when I was actually 90 days late from XXXX. This information is not correct in my credit profile and should be updated immediately. Pennymac is the worse Thanks
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| 09/05/2023 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
- Private mortgage insurance (PMI)
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Web |
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Purchased a home ( XXXX ) with a conventional loan ( XXXX ) and a bridge loan ( XXXX ) in lieu of selling previous home. Sold first home, paid bridge loan in full. Conventional loan was sold to us with PMI until the bridge was paid in full. We sold the first house, paid bridge loan and penny Mac refused to remove PMI stating that the house decreased in value over XXXX in the month since we purchased it.
They made us pay XXXX to have them appraise it again, even though we had an appraisal at purchase ( 35 days previous ) that stated the house was worth $ XXXX. Our loan is {$720000.00} and under the XX/XX/20 required to remove the PMI.
PENNYMAC states they will remove the PMI if we pay them an additional $ XXXX?
I feel they screwed the appraisal they ordered to keep the PMI fees.
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| 04/15/2015 |
Yes |
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- Loan servicing, payments, escrow account
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Web |
Older American |
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We had our home loan servicing transferred from XXXX XXXX Mortgage to PennyMac effective XXXX XXXX, 2015.
We paid our mortgage of {$2600.00} to PennyMac and they acknowledge it. When I go to their " new '' website, the only have applied the Principle and Interest totalling {$1700.00}. The balance of {$890.00} which should be applied to escrow is missing. When I contact PennyMac I get to a call center in Texas who tells me it is there, although on their website it shows zero. When I ask for documentation they say they do not have E-Mail ( Really, in 2015??? ) and can only send a snail mail letter. My complaint is that there is no one and no way to contact anyone at PennyMac to discuss this. I tried to reach their office in XXXX Ca and I am transferred back to the Texas Call Center.
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| 04/20/2015 |
Yes |
- Mortgage
- Conventional fixed mortgage
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- Loan servicing, payments, escrow account
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Web |
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In XXXX 2014, our house was hit by a severe XXXX. PennyMac, as our mortgage holder, is responsible for disbursing the funds from our insurance company so that we can pay for repairs to our home.
Repairs are now complete, but PennyMac is stalling on releasing payments. This means that we either have to ( a ) go out of pocket and pay contractors ourselves ( approx {$40000.00} ) or ( b ) continue to nag PennyMac to release our repair funds, and run the risk of incurring late payment fees or, worse, a lien from our general contractor.
Numerous calls to PennyMac have failed to push the process forward. It seems that PennyMac has instituted a process of losing paperwork and giving its mortgagees the runaround in an attempt to keep our money as long as possible and generate interest.
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| 11/25/2020 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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Mortgage transferred from XXXX XXXX ( Loan # XXXX ) to PennyMac ( Loan # XXXX ) on XXXX. The total principle transfer was {$200000.00} from XXXX, confirmed on XXXX. The total principle received by PennyMac was {$210000.00}. Three payments were made prior to transfer, reducing the principal.
XX/XX/2020 Principal curtailment {$1200.00} XX/XX/2020 Principal curtailment {$1200.00} XX/XX/2020 Principal curtailment {$210.00} There is currently an interest build on the incorrect balance of {$210000.00} on PennyMac 's side. Confirmed with XXXX XXXX that the principle payments were transferred along with the loan. PennyMac indicated they did not received any of the payments on XXXX. There is a total of {$2700.00} in principal missing, and interest is compounding on an incorrect balance.
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| 07/26/2019 |
Yes |
- Mortgage
- Other type of mortgage
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Web |
Servicemember |
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On XX/XX/XXXX, I signed a closing eDoc, and on that document, it indicated that was was to get around {$16.00} for a refund. When the notary appeared at my home, those documents were different. I was to pay {$290.00}. I asked the notary about it, but he said he did not work for XXXX XXXX. He told me that I had 20 days to change my mind. I signed the documents, and then sent an email to XXXX XXXX, and I made a phone call. I figured they wee never going to call me back, so I called XXXX to set up the wire because I was afraid if I did not, I would get kicked out of the bank 's house.
I downloaded the eDoc and I have to one from the notary. There are also other differences as well, but that was the first one I noticed.
I thank you in advance for your assistance.
XXXX XXXX XXXX
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| 07/29/2020 |
Yes |
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- Trouble during payment process
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Web |
Servicemember |
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Your website states that " Payments that are scheduled with an effective date after the first 10 days of your grace period will be charged a {$5.00} fee. '' I believe this constitutes a " pay to pay '' type of structure.
Charging a fee to pay by web is a generally unallowable practice. I would like an explanation as to why PennyMac charging a fee is appropriate for using their online service based on what day of the grace period you schedule your payment for. I would expect I could pay online on the XXXX of the month ( within my grace period ) and not incur an additional expense.
Potential UDAAP impact. This may be a stretch considering you do disclose the fee on your payment interface, but I wanted to add this considering the regulatory definition of UDAAP is rather vague.
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| 04/26/2023 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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We pay our mortgage company, PennyMac, every month early. For the past several months, instead of posting the payments, they put the payment in suspense. They they call and treat us like dead beats that dont pay. When we tell them they have our money, they ask if we want them to apply it to our mortgage, after they slap us with a big late fee. This seems like a revenue building fraudulent system. This practice is improper because they know there is NOTHING we can do about it unless we are willing to pay closing fees and go through the whole refinancing process which is awful.
Our builder gave us incentives to finance with PennyMac. Because of this, all of our neighbors have PennyMac. By comparing notes, I know that these practices are VERY common. It is systematic and wrong.
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| 12/06/2019 |
Yes |
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
Servicemember |
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On beginning of XX/XX/2019, I started my mortgage refinancing using the IRRRL benefit. I was told by the loan agent that I should hold my payment until the refinancing was completed. XX/XX/2019 I was contacted by a loan agent explaining that in order to move forward with the refinancing I needed to make a payment for the month of XXXX. I explained to that I will be able to make the payment by first week of XXXX. I proceed with the payment, I called pennymac to follow up and I was told that the refinancing was closed due to late payment. Several occasions I explained that the only reason I was late was because of their initial instructions hold the payments until the refinancing was completed. Until todays date they refuse to complete my refinancing nor start any application.
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| 06/13/2018 |
Yes |
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- Trouble during payment process
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Web |
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On XX/XX/XXXX I mailed my mortgage payment to PennyMac. Along with the check # XXXX, I included a letter with specific detailed instructions on how I wanted the payment applied. They ignored the letter and chose to apply the payment how they felt it should be applied. This has been happening for the past several months. I have reached out to them on several occassions to rectify the matter and they have not been at all helpful. Instead, their representatives have disrespected me, spoken to me unprofessionally and mistreated me.
In this latest incident, they applied the overage to the principal and that is not what I requested. I was also charged a late charge and the payment was not late. They also received the payment on XX/XX/XXXX and put the received date as XX/XX/XXXX.
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| 11/06/2020 |
Yes |
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
Servicemember |
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Despite my previous complaint and Penny Mac 's assurances that it would correct my property address, it has failed to do so.
My property address has been XXXX XXXX XXXX # XXXX XXXX, MD XXXX since I purchased the home in 2007.
When Penny Mac acquired the loan they recorded the address incorrectly.
They refused to correct it on my old loan until I filed a complaint with the CFPB.
Now, they refuse to correct it on the new loan. Despite multiple requests, CFPB staff refuse to record the correct address on the new, recently refinanced loan.
The Penny Mac representative that handled the first CFPB complaint told me he would correct the address on the new loan beginning with XXXX. I have made multiple requests to the customer service team also. None have been acted upon.
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| 07/18/2016 |
Yes |
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- Loan servicing, payments, escrow account
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Web |
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The mortgage company began to raise the monthly payment after I was approved for exmption that should lower the monthly payment and taxes on home, but they told me that they paid more than XXXX for the city and the taxes was only XXXX, I called the city and I was informed that there was a refound sent to the mortgage company and they also sent me a refound. The mortage kept saying that there is a shortrage in the account and I told them there should n't because they got refound from the city. They insisted and kept adding more things to the monthly payment. They also tell me that I have two payments due in my account but I have a proof for paying every month. I need help to stop this company from adding this additional payments and charge me for something that is not there.
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| 02/17/2021 |
Yes |
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- Trouble during payment process
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Web |
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I am always on time when sending my mortgage, as it is my most important bill, however the company continues to accuse me of sending my check late. I send my check well before my billing date and they continue to say they have not received my payment on time, each time they charge me a late fee. I have been to my local post office for information on how long it takes for a letter to reach California from Massachusetts, they told me it takes about three to five days. I always send my check on time and they claim I am roughly 19 days late on my payment, they have charged me late fees multiple times and I am upset since I know my payments are on time. It seems as if they want to force me to switch to automatic payment although I have always payed by check through the mail.
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| 08/03/2020 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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Today ( XX/XX/2020 at about XXXX ) I spent 45 minutes filling out an electronic mortgage payment set of forms online with PennyMac LLC . At the final step I was notified that " oops '', there was a problem and I should re-apply again later. I called their 800 customer service line and was told that the web browser I use ( XXXX ) was not workable - the operator said the ONLY acceptable browser is XXXX XXXX. I do not want to be forced to download yet another browser to simply make their payment. This is discriminatory and at a minimum the company should inform me of the browser restriction BEFORE I spend 45 minutes filling out their online form. I suspect they are being paid to restrict access to one browser only. This is an unfair business practice.
XXXX XXXX XXXX XXXX
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| 01/25/2018 |
Yes |
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- Trouble during payment process
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Web |
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In XXXX of 2017 after the hurricane. XXXX XXXX told me i can stop paying the mortgage for 3 months because of the disaster then i can start paying again after the three months XXXX XXXX didnt tell me they wanted to modify the loan! I did n't ask them for a loan modification and they didnt ask me if I was interested in it they proceeded to do moduficstion without my consent and undrstanding of their process. I am scared and worried because of XXXX XXXX!
I find them to be very misleading and dishonest. Now they are sending me a bill for over 1800 pet month!. I ghought they were going to add the three months to the back of the mortgage!
They are very bad. I do not trust them. I wonder if others are having this problem as well. Please stop them from misleading homeowners
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| 10/17/2017 |
Yes |
|
- Struggling to pay mortgage
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|
Web |
Servicemember |
|
Penny Mac failed to close on a loan modification in time for me to get the HAMP benefit that closed on XX/XX/XXXX which raised my monthly payments significantly. Penny Mac requested pre-approval from the VA for a loan of 3.5 % and a 480 month term and the VA granted an approval for this loan. I spoke with the VA and they will confirm this.
On XX/XX/XXXX a trial modification payment of {$2700.00} at an interest rate of 3.5 % commenced. I made 7 payments from XX/XX/XXXX to XX/XX/XXXX and Penny Mac failed to send me closing loan documents. Now Penny Mac is requesting a loan modification of XXXX with an interest rate of 4.375 %. On top of this new loan they added my ex-wife to the proposed mortgage. She was not on the original mortgage and she recently claimed bankruptcy.
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| 04/18/2016 |
Yes |
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- Credit decision / Underwriting
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|
Web |
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I have disputed with Penny Mac loan services on a mortgage note that was in mine and my ex husband name. We divorced in XXXX and I have legal documents per my divorce decree that my ex husband was awarded the house and I would be held harmless from all the debt. My ex husband was in the process of selling the house at the end of XXXX and he did not make the last XXXX pmts making him 60 days late. Now it is showing on my credit. That was not my dept and I should not be liable. I was paying my own rent on time. I have no missed payments on my credit. I would like for PennyMac to remove this issue. I have made a dispute with them and they have denied my dispute. I can not get a loan from any XXXX because it looks like that this is my debt and clearly is not.
Please help.
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| 11/29/2022 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
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- Incorrect information on your report
- Account information incorrect
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|
Web |
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On XX/XX/XXXX I went to XXXX XXXX XXXX XXXX and deposited XXXX into my checking account. That same day I raised my spending limit to call and pay bills from the money in the checking account. I called Penny Mac on XX/XX/XXXX which Penny Mac decided to not process the day I told them to and attempted to Charge on XX/XX/XXXX days later then what I requested. the money was still available but at the time I didn't have a limit increase so that the large payment couldn't process. The branch manager wrote a letter and also attached the policy for spending limits. I tried reaching out to Penny Mac several times they won't help me with this matter. They did admit not charging my card and waiting XXXX days and also that were not willing to work with me on settling this matter
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| 01/29/2017 |
Yes |
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- Loan servicing, payments, escrow account
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|
Web |
Servicemember |
|
The mortgage company that handles my home loan ( PennyMac ), is not reporting my account status correctly to any of the credit bureaus. I filed for CHAPTER XXXX BANKRUPTCY in XX/XX/2016. During the process, my attorney and I requested a reaffirmation agreement from PennyMac. They never responded and never requested one be filed. They continued to send monthly billing statements as per usual, so no problem was ever realized. Only after my bankruptcy was discharged, did I come to find out, that PennyMac now reports my loan and " DEROGATORY/CLOSED ''. Both myself and my attorney have reached out to PennyMac, with no positive outcome to come from the communication. I have continued to make my monthly mortgage payments on time. My account is and has been paid up to date.
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| 09/05/2019 |
Yes |
|
- Applying for a mortgage or refinancing an existing mortgage
|
|
Web |
Servicemember |
|
In XX/XX/2019, PennyMac was contacted regarding the VA 's approval for my Veteran ex-husband to take over the loan for a previous joint loan we secured on our main home. This was a court ordered agreement that he would retauin the home and through the VA process, securing the loan in his own name. PennyMac was provided with all approval documents in XX/XX/2019 and has failed to process the loan in 6 months. They have been called multiple times over the six months and have refused to do anything to investigate or expedite the processing of this loan, removing my name and placing the loan in the name of my Veteran ex-dusand, who now holds the title to the property per a court order.
My social security number XXXX The property is at XXXX XXXX XXXX XXXX XXXX, CO XXXX
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| 01/25/2020 |
Yes |
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- Struggling to pay mortgage
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Web |
Servicemember |
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I missed one mortgage payment of 2019, and my mortgage company is not giving me any reasonable way to pay that back. They claim I either have to pay in full, or pay balance in two months more than doubling my mortgage payment beyond what I am capable of paying. They refuse to give me any other options, and I can never reach my assign poc who is in charge of my account. I feel as if I am being discrimated against for being a veteran and they constantly give me the run around to collect late fees from me. I have alright stated I would commit to a repayment plan, and gave a XXXX dollar deposit. That leaves XXXX owed for that payment, but they want me to pay over 1000 for two months not including my regular mortgage payment of XXXX effectively making it XXXX a month.
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| 08/10/2023 |
Yes |
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- Problem with fraud alerts or security freezes
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Web |
Servicemember |
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I was mobilized under a XXXX XXXX XXXX XXXX XXXX XXXXXXXX XXXX XXXX XX/XX/2022. My civilian pay appropriately stopped as of XXXX XX/XX/2022, and my military pay was delayed for XXXX days. My military pay also was paid inappropriately for XXXX days at my previous pay grade, and without the correct housing allowance. The inappropriate pay at old pay at older, lower rate of pay was less than my civilian pay, in addition to not receiving any pay to cover bills during the month of XXXX. I informed Penny Mac mortgage of this issue and asked for XXXX protection to prevent a XXXX day late credit report. XXXX removed the late fee, but has continued to report the XXXX day late to credit bureaus. Ive disputed the late report with the credit bureaus many times to no avail.
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| 04/27/2020 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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I have been trying to get this corrected. I made an on-time payment to PennyMac from my Bank Account on XX/XX/XXXX for an XX/XX/XXXX Payment. It was sent electronically from XXXX XXXX to PennyMac. PennyMac tries to say that the payment did not go through. They have called three times to collect the payment from me. Two of these times are AFTER I stated that it was paid. They claim to see the attempted payment but claim there was not a success code and thus it was not a payment. My bank shows it as successful. Twice PennyMac claimed they would research it and get rid of the late fee. However, the late fee keeps reappearing as does the online record showing a late payment. Along with that, they keep calling me asking me where my payment is. They are incompetent.
|
| 04/11/2018 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
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- Incorrect information on your report
- Account information incorrect
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Web |
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Hi, I appreciate XXXX and your hard work but you are incorrect on your last response on my home loan. This is very simple the lender I had was Penny Mac I'm not disputing that ok. What I'm disputing is the loan balance it's been paid in full. I sold the house! Sighned the closing on XX/XX/2018. I want the balance to be shown as a XXXX balance on my report and XXXX debt under where it says realastate debt. Since a buyer has already bought the house. XXXX XXXX XXXX XXXX is the company that closed the house. XXXX is the number to XXXX XXXX XXXX XXXX. I have uploaded and by mail sent proof house was sold and closed to XXXX already. But XXXX has failed to get the correct response on my report. I want a zero balance showing on my report under Penny Mac. Thank you!
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| 10/07/2021 |
Yes |
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- Trouble during payment process
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Web |
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I have tired for the last 3 months to set my mortgage up on auto draft. My most recent attempt in XXXX for XXXX payment seemed to have been set up successfully. I received my XXXX statement on XX/XX/XXXX and it showed a missed payment so I immediately paid the missed payment. On XXXX I received notice that I was delinquent on an account. Upon researching it turns out it was my My mortgage serviced by Penny Mac. I immediately called them an notified them of the error. Upon calling it seemed that several pieces of information was incorrect My phone number was not associated with my account and they were unable to even pull up my account by my name. The email address was incorrect etc. I spoke with XXXX a supervisor who indicated an issue with the online portal.
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| 05/14/2016 |
Yes |
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- Loan servicing, payments, escrow account
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Web |
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We refinanced our FHA loan on XXXX/XXXX/16. The funds were wired by our attorney to the old lender ( PennyMac ) on closing date ( XXXX/XXXX/16 ) as per the payoff letter attached. The payoff letter included a full month 's PMI payment for the month of XX/XX/XXXX. After closing PennyMac charged us two additional PMI payments in XX/XX/XXXX and XX/XX/2016 out of our escrow account, claiming that we closed on XX/XX/XXXX and those payments were for XX/XX/XXXX/XX/XX/XXXX. We closed on XX/XX/XXXX and the funds were received by PennyMac the same day as can be seen in the attached wire print screen provided by our attorney. We were overcharged those two additional PMI payments and PennyMac needs to credit our escrow account for those payments and refund us the funds.
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| 05/03/2022 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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I am trying to get my mortgage loan servicer to follow the XXXX XXXX XXXXXXXX XXXX that they themselves have attempted to quote for the reason they have denied my PMI deletion requests. I am trying to get PennyMac, my loan servicer to follow through with PMI deletion based on current market value of my home, utilizing a BPO for my home. They keep rejecting my claims, saying it does not exceed the requirement for original market value andor claiming i am citing repairs to my home instead of improvements. i have made ~ {$6300.00} in improvements since closing on my home and they are claiming they are repairs or " not significant enough ''. please help me get them to remove my PMI on my loan. i am 100 % current on all payments, no late, and XXXX credit score
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| 03/05/2022 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
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Web |
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I brought a home XX/XX/2021 for XXXX at 95 % LTV so the loan required MI and Taxes/HOI to be escrowed.
However, since the home I brought was a fixer upper I immediately invested over 100k in.
Contacted lender and they advised that I had to have an appraisal ordered and completed by them to verify the new value, so I paid for the appraisal with pennymac and the new value came is at XXXX ; which puts me at LTV at 70 %.
I resubmitted my request for MI to be removed and escrowed to be removed from my monthly payment. MI removal was denied twice and after multiple request they finally remove removed the MI ONLY.
HOWEVER, they denied my request to remove escrows 6 times despite telling me to pay for the appraisal through them and still deny my request.
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| 06/27/2020 |
Yes |
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
Servicemember |
|
PennyMac Loan Service has the mortgage on my VA Home Loan. I applied for a VA refinance loan on my home ( at the VA rate reduction refinance loan ). It has been over 42 days from date since I had submitted my VA Home Loan refinance application.
PennyMac title and escrow company that is handling the closing of my VA Home Loan refinance application request the following documents from me to close escrow : 1 ). Owners policy of title insurance from the title company who handled your purchase. 2 ) Certificate of completion from the builder. 3 ). Warranty of completion.
PennyMac have the mortgage of my VA Home Loan. I have experience a problem with my loan application with the escrow company who is handling the refinance of my VA Home Loan ( mortgage ).
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| 07/02/2018 |
Yes |
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- Trouble during payment process
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|
Web |
Servicemember |
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My mortgage was through XXXX XXXX. It was bought by XXXX. Then it was bought by XXXX XXXX. Now I receive a letter saying it was sold to PennyMac, BUT the terms are not being honored. I had automatic payments through XXXX, XXXX and XXXX XXXX. This covered my Principle, Interest, Insurance and Property Taxes. PennyMac says they will not take care of that in this letter. XXXX XXXX NEVER said they were selling my loan. In this day and age of fraud and corruption no one needs this from finance companies.
When mortgage companies assume a mortgage are they not supposed to honor the terms and rates of the loan, especially a VA LOAN!? If it's not a law WHY DON'T WE MAKE IT ONE!
My mortgage is not a Grifter 's game for banks to play with. XXXX XXXX XXXX XXXX
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| 09/09/2017 |
Yes |
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- Trouble during payment process
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Web |
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On numerous dates in XX/XX/XXXX, I have contacted pennymac in reference to an increase in my escrow payments per month due to a mistake on their end. They originslly stated it was my taxes fault, but then changed their story and blamed it on my insurance company for not keeping up with my windstorm insurance. After speaking with my insurance company, they stated they had not changed anything in reference to my policies and any increase in pay was due to the mortgage company. After explaining to them what I found out, pennymac finally admitted on a recorded line that they XXXX XXXX and forgot to collect for it so now doubled my escrow payment. If they made the mistake, why and I getting punished for it and having to pay payments out of my price range.
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| 11/15/2019 |
Yes |
- Mortgage
- Conventional home mortgage
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- Struggling to pay mortgage
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Web |
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I usually pay my monthly mortgage statement balance with extra {$500.00} to the principal reduction and have been no problem to do this. However, last month {$500.00} went to not principal reduction to the escrow account. So I called them and left message through their website total 6~7 times. Every time when I call them, the manner of providing service of the agents were not nice. Some time they were yawning or giggling. Anyway they said your request is in process you should see the result in your screen in 2~3 business days, but it has been almost a month now, still I don't see the correct reversal in my account ( loan activity ) page. I'm so tire to talk to them now, and don't feel pleasure to speak with them. I want them to solve this issue ASAP.
|
| 01/06/2021 |
Yes |
- Mortgage
- Conventional home mortgage
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
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My husband and I apply with our mortgage company to refinance, back on XX/XX/2020 after 5 long months of waiting The loan officer approved our refinance amount, to 3.75 % to 30 years we wanted to negotiate with him the terms of interest to high and the market were still is in 2 % or less than 3 % and he desires to close the case and denied the credit.
During those 5 months, we pay the necessary fees and sent several emails phone calls trying to speak to this loan officer. In those 5 months, he spoke to my husband 1 time to collect the necessary documents and that is all.
We applied with another company and close within 45 days.
I'm complaining because this can not happen to anybody else.
I just want to make a note of this officer 's behavior.
|
| 08/01/2017 |
Yes |
|
- Incorrect information on your report
- Account information incorrect
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Web |
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When PennyMac bought our loan they did n't accept bi-monthly payments like our previous company. We were not notified of this until we called about fees we were being charged. So it showed as late payments. Then we were offered a modification. When it was explained to us, they told us not to make payments certain months and then make partial payments other months. We were told that once the modification was finalized that all negative markings would be wiped off of our credit report. We were told the loan would be shown in good standing with no blimishes. They show the loan in good standing but all of the negative reported is still on our credit report. It is still effecting our credit score 4 years later and they continue to say they ca n't help.
|
| 03/16/2017 |
Yes |
|
- Application, originator, mortgage broker
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Web |
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I am very deceived of the way Penny Mac has handle my loan. I submitted a modification packet to them since XX/XX/2017 to be review for a possible work out option, in my hardship letter I explain the reasons why I was not able to keep up with my mortgage payments. Due to me losing my job Penny Mac in demanding more proof I mean I am not paying my mortgage payment because of my loss of income. I was been forced by my ex employer to resign. I did n't want to lose my job however ; my XXXX has moved in and she is contribution towards my house hold income. I am working now but the money I am receiving is not the same, therefore I am hoping to be provided an affordable mortgage payment, so I can be current once again. My intentions are to keep my house.
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| 05/05/2017 |
Yes |
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- Trouble during payment process
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Web |
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I requested an analysis on XXXX of my escrow account since my property was new construction when I closed in XXXX XXXX . Since the property was new construction my taxes were set up using the tax amount on the unimproved value and not the improved value. I was told account analysis would be done in XXXX since my account has been with the servicer for less than a year. However, I was told on XX/XX/XXXX I could request an out-of-cycle analysis. On XXXX I requested the analysis and was told I had to wait until XXXX for my account to have an escrow analysis done. What benefit is there to me to wait until XXXX for my account to be analyzed and find out my payment is being increased and there is a shortage in my escrow account?
|
| 10/19/2021 |
Yes |
|
- Struggling to pay mortgage
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|
Web |
Servicemember |
|
I am in the process of a loan modification with PennyMac after Covid forbarance. They have sent the initial loan modification offer and the program they say it is " Veterans Administration ( VA ) Disaster Streamline Modification ''. ( You have qualified for a loan modification " Trial Plan '' under : Veterans Administration ( VA ) Disaster Streamline Modification. ) From what I saw and told them there is no program with that name. There is the VA Disaster Modification and a Streamline Modification. After about 20 minutes they still did not say what of the two programs it was but by some of the definitions they read off it seemed like a Disaster Modification.
It seems they are being purposefully deceptive on what modification they are offerning.
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| 09/12/2020 |
Yes |
|
- Trouble during payment process
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|
Web |
Servicemember |
|
I purchased a home through XXXX Mortgage in XXXX of 2019. When I did I paid a years homeowners insurance in advance so my escrow would build during that time. Upon closing, XXXX sold my loan to PennyMac. I never made any payments to XXXX except at closing. I called to report a claim on XXXX that our shingles had blew off at which time our insurance company ( XXXX ) told me our insurance had lapsed on XXXX because they had not received payment. I then called PennyMac who told me they couldn't make the payment because XXXX didn't give them the information. The money was in escrow and no one contacted us to tell us there was an issue. I had to pay {$9000.00} out of pocket for roofs on my house and garage because the mortgage company was negligent.
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| 09/17/2022 |
Yes |
|
- Struggling to pay mortgage
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|
Web |
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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.
|
| 02/16/2023 |
Yes |
- Mortgage
- Conventional home mortgage
|
|
|
Web |
Servicemember |
|
I was pre-approved for a mortgage with PennyMac. We were set to close on XX/XX/23. They have had the signed purchase contract since XX/XX/23. We locked a rate on XX/XX/23 of 4.99 % for a 15 year fixed conventional loan. Yesterday ( XX/XX/23 ) they tell me the rate was never locked, and that rates had gone up and best they could do was 5.87 %, yet I had emails from them proving it was locked. They asked me to send those emails to them. I did. Today ( XX/XX/23 ) they call me and tell me they can't fund my loan. Clearly they didn't want to lend at the lower rate I had locked in. Now, me and my family, including a XXXX XXXXXXXX vet, XXXX kids, and pets are going to be homeless as we are living in an XXXX until we close. This should be criminal.
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| 12/29/2017 |
Yes |
|
- Struggling to pay mortgage
|
|
Web |
Servicemember |
|
On XX/XX/XXXX I went on to my pennymac acc to make my payment and noticed that my payment for XX/XX/XXXX was {$500.00} more than the monthly payment I have made all year I called pennymac and asked them why and they told me that they had to pay more on my escrow and that they are going to charge me {$500.00} more for the rest of the year I CAN NOT AFFORD MY PAYMENT FOR XX/XX/XXXX AND WOULD NOT HAVE GOTTEN THE HOUSE IF I KNEW THAT MY PAYMENT WAS GOING TO JUMP {$500.00} THE NEXT YR THIS IS NOT MY PROBLEM AND IT NEEDS TO BE FIXED NOW!!!
SOMONE SOME WHERE MESSED UP AND DID NOT TELL ME I WORRIED THAT IM GOING TO LOSE MY HOUSE THERE HAS TO BE SOME WAY THIS CAN BE FIXED!!
AND THEY DID NOT SEND ME ANY NOTIFICATION THAT THIS WAS GOING TO HAPPEN!!
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| 09/17/2020 |
Yes |
|
- Incorrect information on your report
- Account status incorrect
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|
Web |
|
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Reports have confirmed that the XX/XX/XXXX began affecting XXXX XXXX in the fall of XX/XX/2019. I myself became ill in XXXX and I used all my accrued leave. I was fired from my job and all this while trying to pay mortgage and other bills. My mortgage with PennyMac is currently in forbearance and they are still reporting it delinquent. I have stayed in communication with PennyMac and Ive inquired about ways to make the delinquent payment. PennyMac refuses to help me. They have said that the payment will not be applied. I dont know what else to do. I am at my wits end. I need help with this creditor. I want my account status to no longer be reflected as delinquent and I am happy to make the 1 delinquent payment in order to make that happen.
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| 05/23/2023 |
Yes |
|
- Trouble during payment process
|
|
Web |
Older American, Servicemember |
|
Yes, I have contacted " Penny Mac Loan Servicing Center '', on numerous occasions and they still saying they can't find my check written on " XXXX XXXX check # XXXX for " XXXX XXXX ( XXXX ) XXXX XXXXXXXX XXXX Dollars.
I'm requesting your assistance in resolving this matter, because the check was written for my " XXXX '' payments, with additional money to help with my escrow. My new mortgage payment is {$990.00} a month, which for " XXXX '', is {$1900.00} and the balance ( {$630.00} ) is to be applied to my escrow account.
Here 's the name of my mortgage company, I am complaining about : Penny Mac Loan Financial Servicing / phone # XXXX XXXX Thank you XXXX XXXX XXXX XXXX XXXX XXXX XXXX, XXXX XXXX XXXX South Dakota XXXX XXXX Loan # XXXX
|
| 01/08/2021 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Applying for a mortgage or refinancing an existing mortgage
|
|
Web |
|
|
We applied to refinance our mortgage in XXXX 2020. Our property tax was due during the process ( it was due XXXX 2020 ). I was told they would pay our property tax. I called and checked on this on three separate occasions and was assured they would pay the tax in full. XXXX XXXX came and went and it wasnt paid. A {$300.00} penalty for not paying the tax on time was added to our bill. In this process I was laid off due to COVID. When I informed them I was laid off of they denied our refinance. Now when I try to call to ask about our property tax an automated system says my social is not in their database and hangs up on me. ( We have an existing mortgage with them ). I can not get ahold of anyone. My emails are not being returned either.
|
| 04/23/2019 |
Yes |
|
- Trouble during payment process
|
|
Web |
|
|
My acct was past due. I tried to pay online but pennymac disables that option when I fell behind. I took money out of my 401k and called for the amount to bring current and was told they couldnt tell me and wouldnt accept payment. I then sent almost {$10000.00} from my bank directly by the due date on the most recent statemebt I had and they applied it but added what they refer to as other fees. The next month the bill had the {$1500.00} payment and almost a thousand dollars in fees. I paid that and 2 days later more other fees were added. I was told this was due to forclosure but I was never in forclosure. They said they were attorney fees but refused to send me statement showing that or to even confirm that these fees would stop now.
|
| 12/26/2021 |
Yes |
|
- Struggling to pay mortgage
|
|
Web |
|
|
I am in forbearance which I started in XX/XX/2021. When I started this I read all the information about it. But never saw anything about if I do this I would not be able to get another loan once Im out of forbearance unless I make XXXX payments in a row. Thats not what upsets me is fast forward to XXXX and I want to put the house on the market to sell. That is when i find out about the XXXX payments. I have sold my house and will be paying off the mortgage in a lump sum all at once. So I will not be able to Make XXXX payments so does that mean that I have to wait to one year to buy another house? I dont think thats fair. I am paying my obligation off in a lump some. So why am I being punished for something that was out of my hands?
|
| 03/23/2021 |
Yes |
|
- Applying for a mortgage or refinancing an existing mortgage
|
|
Web |
|
|
Penny Mac is refusing to remove my PMI and finding various reasons to do so.
I have repeatedly asked for this to happen based on the fact that my ltv based on current market is way above what is required to remove PMI.
Penny Mac continues to hold me XXXX.
I paid for an independent appraisal last year And they held my money and now just returned to me without any comments for the reason. Nor with any interest for keeping it.
They have stated that I had a late payment for more than 30 days and that was not accurate. I called them and they informed me that was not the case.
They said they would do an appraisal and during Covid I requested a drive by and not internal and they took {$150.00} and just now returned the {$150.00}.
|
| 02/07/2017 |
Yes |
|
- Loan modification,collection,foreclosure
|
|
Web |
|
|
We had sewer and water damage in our home. We got our insurance check but could not Cash it as it also had our lenders name on check. This happened early XXXX XXXX. We did repairs and paid out of pocket for repairs. PennyMac is our loan provider, we had to have XXXX inspection done. The check was for {$10000.00}. To this day even after inspection said 100 % complete, PennyMac has not released all funds. It is now XXXX XXXX. They are holding on to funds for no reason. I call and get run around. Every time I speak to someone they tell me something different. Now they want to foreclose on my house when they are holding more money than what we owe! I do n't believe this is legal. My wife and I are upset and do n't know what else to do.
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| 06/13/2018 |
Yes |
|
- Trouble during payment process
|
|
Web |
|
|
I have reached out to PennyMac on several occasions concerning their misapplication of my mortgage payments. Each time I speak with a representative, I am given the run around, given a different answer or I have been spoken to flat out rudely and unprofessional ( most recently by XXXX, XXXX and XXXX ). I asked to speak to a manager and I was transferred to XXXX who I later found out is not a manager. When I asked her to let me speak to a salaried official, she did not know what that was. I advised her I would be filing a complaint with the Consumer Finance Protection Bureau and she said she did not care.
I need some assistance in getting these payments applied correctly. I am the customer and I do not deserve to be disrespected.
|
| 11/09/2023 |
Yes |
|
- Incorrect information on your report
- Account status incorrect
|
|
Web |
Servicemember |
|
My Pennymac Mortgage payment was made online on XX/XX/2023. Due to a bank delay in processing a deposit made on XX/XX/XXXX which was suppose to clear in time to cover payment for Pennymac made on XX/XX/XXXX my payment was reversed.
A new payment was made on XX/XX/XXXX and processed, I was advised on XX/XX/XXXX the payment will take up to XXXX business days to process and I don't need to be concerned as they will make sure credit bureaus are updated to show payment was made successfully.
As of today, XX/XX/XXXX XXXX has reported my payment was never made which is not the case and now my credit has dropped XXXX points as they can't give me an answer when they can update the bureas to reflect my account was paid Thanks XXXX XXXX
|
| 10/26/2021 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
|
|
Received the following email from XXXX with Penny Mac on XXXX. XX/XX/XXXX. Still no attempt to remedy this at all. No phone call, email, or text. After today, I will file a complaint with the XXXX XXXX XXXX. This is my second time returning this complaint to the CFPB. 5th attempt at getting an answer to the question...
Your complaint has been sent to the company.
Weve sent your complaint to the company for a response.
We will let you know when the company responds. The response should include the steps they took, or will take, in response to your complaint.
You should receive a status update within the next 15 days.
COMPLAINT ID XXXX SUBMITTED ON XX/XX/2021 PRODUCT Checking or savings account ISSUE Managing an account
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| 01/27/2017 |
Yes |
|
- Loan servicing, payments, escrow account
|
|
Web |
|
|
For the past three months our mortgage company Penny Mac, has reported that we are behind in our payments. We made the payments " On Time '' through XXXX XXXX and have the doc 's to prove this. This is the second time around for this happening to us. When I reach out to them they inform me that they have been placing our payments into a " Suspense Account. '' Why? It is as if they keep XXXX sets of books. XXXX that has the " correct '' information and XXXX that does n't. PLEASE! Investigate this issue because they are messing with our credit score, sending people to our home, as well as sending us notices that we are three months behind in our payments. If they are doing this to us then we are not alone in this mess! Thank you.
|
| 09/28/2022 |
Yes |
|
- Struggling to pay mortgage
|
|
Web |
Servicemember |
|
I was in a COVID forbearance plan with my lender, Penny Mac. In XXXX I requested to exit the plan and start the VA Partial Claim Program process which goes until XX/XX/2022. I had previously been told that I was eligible and that would be an option. During every monthly check in, I stated that I would be doing the VAPCP. The customer service rep told me that Penny Mac was no longer doing the VAPCP as an option and that I would have to conduct a modification of my mortgage. Three different reps told me different cut off dates. I called the VA help center and was told this issue was common. Penny Mac now has said I must modify my mortgage to a higher interest rate, which is why I believe they will not allow me to do the VAPCP.
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| 09/30/2021 |
Yes |
|
- Trouble during payment process
|
|
Web |
|
|
I have an agreement with my mortgage company ( Pennymac ) for them to pay my real estate taxes out of an escrow account. I recently ( XXXX ) received a notice of delinquent real estate taxes from my county advising me my home will be put up for sale on XX/XX/XXXX if payment is not received. The payment was due XX/XX/XXXX.
Pennymac is notoriously difficult to deal with on the phone ( hard to get through to an agent, agent is not knowledgeable ), so I sent a message to them through their internal Website messaging system. I am waiting to hear an explanation for how this could be and that they will be paying the past due amount immediately and will include payment ( out of their own pocket ) for late charges and interest fees.
|
| 06/22/2023 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
|
|
Going back 6 months, I " underpaid '' after Pennymac failed to send updated escrow information. I have repeatedly had to call in and make additional " catch-up '' payments to bring my account current. On the rare occasion I get a statement, there is a late payment notice. On calling yet again, I get the runaround until finally they admit that they applied my new catch-up payments to either principle, or in suspense because of the previous late payment that they " accidentally '' forgot to apply the catch-up payment to rectify. I only find this out a few months late because they don't send statements regularly. In fact, I seem to be late receiving a statement yet again. I have not signed up for any online statements to date.
|
| 12/31/2019 |
Yes |
|
- Trouble during payment process
|
|
Web |
Older American, Servicemember |
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I initially started a refinance mortgage with our current lender PennyMac only to find that they were unable to lend us enough money. Another lender was willing but needed a copy of the VA appraisal - that we paid for - to finalize the deal. My original request was on XX/XX/2019. As of this writing the VA appraisal transfer has yet to take place despite six phone calls, even more emails, to loan officers, customer service and the like. Yet what do I get for my faithful payments as a customer from XXXX - NOTHING. The current lender is now going to have to charge me {$1200.00} more because of the delay in transferring a simple VA appraisal from one lender to another - what strikes me as a fairly standard, and simple, process.
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| 07/01/2018 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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I have three mortgages with PennyMac. I paid XX/XX/2018 mortgages through a bill pay service. One check was issued for all three mortgages. PennyMac held the check for several weeks and then posted to one account. I was made aware of this when I started getting robo calls regarding my two unpaid accounts. THREE times now I have called in to correct the problem. Yes, THREE times. I have to hold while they investigate, confirm my previous calls and then continue to hold while they make notes to repost the payments. Now one of my accounts is 30 days late. Enough. It shouldn't have happened in the first place, but after three attempts and my time and frustration and now that it is affecting my credit, it is time to take action.
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| 09/13/2023 |
Yes |
- Debt collection
- Mortgage debt
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- False statements or representation
- Indicated you were committing crime by not paying debt
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Web |
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PennyMac Loan Services LLC filed for foreclosure in XXXX of XXXX. The case was withdrawn now they are claiming that i requested a reinstatement quote in a letter they sent out dated XX/XX/. And they are saying I owe them {$21000.00}. I never requested any of this information and I sent out a certified letter dated XX/XX/XXXX with tracking number XXXX XXXX XXXX XXXX demanding they produce the document that they say I sent, them requesting a reinstatement quote. They sent me out another Foreclosure Notice instead of the proof I requested. I have no reason to request a reinstatement quote because the Foreclosure was withdrawn. XXXX XXXX XXXX XXXX. also has threatened me again with filing for foreclosure this is their lawyer.
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| 08/29/2019 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
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- Incorrect information on your report
- Account information incorrect
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Web |
Servicemember |
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Hello, since my original mortgage from XXXX XXXX XXXX XXXX was sold to PennyMac, in XX/XX/2017, for some unexplained reason, the lender has stated at least in the past year, despite the fact that Ive always made my mortgage payment, that I was behind on my mortgage but did not clearly explain why. This has adversely affected my credit scores and more specifically, this past week, caused a refinance to be denied, reportedly because of these lates, which were reported to the credit bureaus. They never explained clearly to me why they were doing this and now it has affected my ability to refinance my loan, which I need to do in order to pay off all the debt Ive accumulated, in order to make my mortgage payment each month.
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| 06/20/2023 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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XXXX Homeowners insurance coverage was not renewed for the year but was paid through my mortgage payments. Pennymac is forcing me to pay for insurance for last year. How do you cover the past with insurance? It's unnecessary money spent and it has destroyed my progress towards paying off my principal amount. I got a policy in place for XXXX. So Im paying for present coverage and an imaginary cover from last year that was just charged to my account XXXX XXXX. I can't afford any increase in my monthly note over paying 2 insurance premiums this year. I really feel like it's an attempt to cause me to foreclose. I would understand the reason behind forced insurance if it covers the present day going forward... not backwards.
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| 01/20/2021 |
Yes |
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
Servicemember |
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Apply for a refinance on the XXXX of XX/XX/2020, the opening document was put together on the same day of the XXXX of XXXX after that day I received a email of the opening refinance documents, as many as two and three email from others agent from pennymac, the first reordered telephone call was from a reference agent, I told her that I wanted to do a reference with XXXX and XXXX, with no mortgage payments until XXXX, I told her if I could not get XXXX and XXXX off with no mortgage payments I did not want to do a refinance, she never told me to hold or save XXXX payment, but she did tell me not to pay XXXX and XXXX mortgage payments until XXXX, so iam two months behind of my mortgage because of this mistake if the agent,
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| 09/16/2023 |
Yes |
- Mortgage
- Conventional home mortgage
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- Closing on a mortgage
- Changes in loan terms during or after closing
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Web |
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I was scheduled to receive my closing disclosure on XX/XX/XXXX in order to support closing of my loan on XX/XX/XXXX for the purchase of a home. Subsequently I did not receive my closing disclosure until XX/XX/XXXX which I received and signed. At this point, the lender stated I could not close until XX/XX/XXXX. The lender stated this was a federal requirement. This required me to concessions from the seller of the property to extend the closing date to the XX/XX/XXXX, which I was able to accomplish. Then on XX/XX/XXXX, I was informed by the lender Pennymac that in order to close my loan I would need to increase my downpayment by 5 % or increase my interest rate to 7.25 % from 6.95 % in order to complete the transaction.
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| 08/23/2023 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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XXXX refuses to remove my MIP insurance without me paying XXXX dollars. I have made significant modifications to my property, and I should not have to pay them to have a 3rd party come to my home to verify those changes. If thats how they want to conduct business, then thats on them, not me!!!!
Furthermore, the company has mismanaged my Escrow account so bad, they are trying to raise my home payment from XXXX to XXXX. So almost an increase of XXXX a month. This is a scam!!!! I can not and will not pay them an extra XXXX dollars a month. We agreed to the payment I have now, and it will NOT go up. I will not be priced out of my home. I will sue everyone involved if the government thinks this is going to keep happening.
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| 04/17/2020 |
Yes |
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- Trouble during payment process
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Web |
Servicemember |
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I would like to file a complaint on Pennymac Loan Services regarding the servicing of my mortgage loan. Also, I do not believe the appropriate guidelines relating to the foreclosure process were followed. I was formed that the demand used for foreclosure expired on XX/XX/XXXX, but I made multiple payments in months of XXXX and XXXX to bring my account current. My home was referred to foreclosure again on XX/XX/XXXX, and ultimately placed on hold XX/XX/XXXX due to COVID-19th. I was still allowed to make payments over the phone on XX/XX/XXXX and XX/XX/XXXX. I attempted to bring my account over the phone again on XX/XX/XXXX and Pennymac Loan services wouldnt accept payments even after doing so on the dates I stated above.
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| 09/04/2021 |
Yes |
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- Trouble during payment process
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Web |
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We were supposed to get an escrow refund check in XXXX or XXXX. At first I thought I might have thrown it away as we appeared to never have gotten it. We requested it another we were very cautious to make sure we didnt throw any mail carelessly but never received the second. I then asked if it could be sent electronically. They gave me instructions on how to enroll however it didnt work. According to them there is a known website issue. So then I requested it be sent via a service that could be tracked. They said it would be here Friday XX/XX/2021. I asked for the tracking info and they indicated on XXXX it has not been sent yet. I believe PennyMac is acting in bad faith and trying not to provide me our escrow refund.
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| 07/02/2016 |
Yes |
- Mortgage
- Conventional fixed mortgage
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- Loan servicing, payments, escrow account
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Web |
Servicemember |
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I took a loan with XXXX XXXX company last year.. I sent them all payments on time to my knowledge.. A couple of months later I received a bill from Penny Mac loans XXXX I called XXXX confused.. They said they took over my loan.. So I started paying them, I had to figure out new contact info and such.. 6 months later, Penny Mac said I was late on a payment because when they bought my loan from XXXX, I had a late payment to them.. They paid for that in order to buy my debt from them, and now I owed them.. Took me about three months to come up with a double mortgage payment.. So I feel like I sent XXXX a check and was unaware that it should have gone to Penny Mac.. This is ruining my credit. Penny Mac wo n't correct it..
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| 04/07/2015 |
Yes |
- Mortgage
- Conventional fixed mortgage
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- Loan servicing, payments, escrow account
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Web |
Older American |
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My home mortgage is with Penny Mac. It has a PMI fee that we have been paying. Per the original agreement. As of a month ago the Loan to Value dropped to 79.79 %, which was to trigger a stop on the PMI. I notified Penny Mac that per our agreement to stop charging me for the PMI. They refused until I PAID for a re-evaluation of my home. This was never in any documents. As a matter of fact I have a letter from Penny Mac dated XXXX/XXXX/14 that states ; that the PMI would be terminated when the Loan to Value reaches 80 % or lower than the " Original Value ''. It has reached that level and they now want me to pay for the home assessment before they will terminate the PMI. This is not part of the agreement.
Please Help.
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| 05/01/2021 |
Yes |
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- Trouble during payment process
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Web |
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On XX/XX/2021 we made a payment of {$5000.00} towards our principal reduction. The mortgage company adjusted/reversed the payment and put the money as if making advanced monthly payments so that they could get their interest! We called and reported this mistake to them and they said they would correct the mistake right away. BUT AGAIN on XX/XX/2021 we made another payment towards our principal in the amount of {$8000.00} and the company adjusted/reversed that payment as if we were putting the payment towards advanced monthly payment, charging us interest on that money AGAIN! These people are scamming us because we are trying to payoff our mortgage and their actions need to be reported! Is what they are doing legal?
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| 10/22/2018 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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We have a conventional home mortgage loan with PennyMac. The home value is {$340000.00}. Our initial loan was for {$310000.00}. We then paid an additional {$40000.00} in principal in XX/XX/2018. This should automatically qualify to eliminate PMI. Our balance is now {$260000.00}.
We have contacted PennyMac several times on this and each time they claim that they will send us paperwork to complete and return. This has never happened. Every time we call they state that they have no record of our request and that they will start the process all over again. This has happened three times now as of XX/XX/18.
I have attached my loan statement information and loan activity statement to show additional principal payment.
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| 06/17/2018 |
Yes |
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- Trouble during payment process
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Web |
Servicemember |
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I had my mortgage with XXXX until XX/XX/2018 when it was sold to PennyMac.. I got a letter from both companies and was told I did not need to do anything but change payment to new company. Then I get a letter from PennyMac XX/XX/XXXX saying I did not have homeowners insurance and I needed to send proof I have it and if not they would get insurance and I would have to pay.
Then I get a letter from XXXX XXXX my insurance carrier saying that they had tried unsuccessfully twice to contact PennyMac and they would not reply. Penny Mac Maliciously tried to get me to pay for a bogus insurance they have. This was a threat and a scam. I have never been late paying anything and PennyMac is a unprofessional mortgage company.
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| 12/04/2016 |
Yes |
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- Loan modification,collection,foreclosure
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Web |
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In XXXX of XXXX, we notified XXXX XXXX XXXX that we were abandoning our home due to job loss and relocation. We filed for Chpt XXXX bankruptcy. The bankruptcy was discharged in XXXX of XXXX. XXXX filed for exemption from the bankrupcy. We listed the property for sale after coming to agreement with XXXX for a short sale. We received a full cash offer for the home at the appraisal price. XXXX then sold the loan to Penny Mac. Since XXXX of this year we have provided paperwork to Penny Mac to again initiate and seek approval for the short sale to the same buyers. We are now receiving collection letters from XXXX XXXX XXXX XXXX XXXX, XXXX XXXX NJ - the letter asks for XXXX and says " Your creditor is XXXX XXXX XXXX. ''
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| 09/03/2015 |
Yes |
- Mortgage
- Conventional fixed mortgage
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- Loan modification,collection,foreclosure
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Web |
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Submitted a completed package to PENNYMAC for a loan modification including a letter of authorization on XXXX/XXXX/15 at XXXX EST. The Letter of Authorization was included as part of their Standard modification package and was also sent separately as a unique, one-page document. As of XXXX XXXX, the authorization had still not been uploaded or cleared by PennyMac 's legal department. I phoned PennyMac that day and they said they woulod escalate the matter, and the issue would be resolved by end of day. Today, XXXX XXXX, again, it still has not been cleared and my client is being denied a trained housing advocate. It should not take more than 48 hours. It has been over one week and there is no good reason for this.
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| 03/01/2023 |
Yes |
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- Struggling to pay mortgage
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Web |
Servicemember |
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In XX/XX/XXXX I lost my job due to XXXX and began door dashing to try and recoup my income. I entered into a forbearance with the serviced and exited it on XX/XX/XXXX. Since then I have attempted to engage for a modification and have been unsuccessful as I am being asked to produce tax returns which I can not because I have not filed. I do not want to lose my home but feel like I am being given no choice but to foreclose or sell. I know Im eligible for a streamline option and would like to pursue that. I can afford my normal monthly payment and just need a fresh start. Why cant I get a streamline option like I know Im eligible for. Also why havent I ever been offered assistance through XXXX for reduced benefits.
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| 07/09/2016 |
Yes |
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- Loan servicing, payments, escrow account
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Web |
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FRAUD OF ( PennyMac Loan Services , LLC ) REF : PennyMac Loan Services , LLC, XXXX XXXX XXXX, XXXX XXXX, XXXX XXXX, CA XXXX, XXXX. XXXX ID # XXXX.
I have an account with PennyMac Loan Services and I have Insurance with XXXX XXXX XXXX for last 5 years. PennyMac Loan Services NOT Releasing the payment from my Escrow account. My agent reached PennyMac Loan Services , LLC 3-4 times and there is NO Response from PennyMac Loan Services. and iLLegally Imposing Amount : {$2800.00} for insurance. XXXX/PennyMac Loan Services always play these games. I have a OLD Complaint against XXXX XXXX XXXX and Returned my Money. After Complaining to CFPB. Please Help me AGAIN with Fraud of PennyMac Loan Services.
Regards XXXX XXXX
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| 01/22/2022 |
Yes |
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- Struggling to pay mortgage
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Web |
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Account had been in forbearance ( covid 19 ) and finally ended in XXXX. I then continued to make payment on my mortgage and in this time kept requesting resolution. We received paperwork but local bank notary advised us it was not legal in CT. After many calls still no resolution and all this time I have just kept paying the loan. Fast forward and on XX/XX/XXXX the company reported me 120+ days late on my mortgage but account says current? This dropped my credit score down over XXXX pts making it impossible to bounce back. I have contacted all 3 bureaus and mortgage company and they will not acknowledge it or escalate my claim that this is incorrect reporting information. Any help would be greatly appreciated.
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| 11/16/2020 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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My mortgage company has sent numerous letters indicating that I am required to have flood insurance. I have each time responded by sending a copy of my LOMA paperwork proving that my residence in NOT in the flood zone. Despite this, they have purchased flood insurance on my behalf and refuse to make any attempts to resolve this issue. Today I have called twice and each time they have hung up stating they can not assist.
I have attempted to get flood insurance through other companies and they all tell me I am not required to have it according to the XXXX website. I am at a loss and am not sure what to do next. They insurance they have purchased on my behalf is significantly more than other companies can offer.
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| 04/16/2020 |
Yes |
- Mortgage
- Conventional home mortgage
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
Servicemember |
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On or about XX/XX/2020, I inquired about a mortgage refinance loan through XXXX XXXX with XXXX, however I did not complete an application.
On XX/XX/2020, I received a call from a lady asking why I was applying for a loan on her property at XXXX XXXX, XXXX, CA XXXX. I told her I did not and she said she received documents from PennyMac to that effect and the documents included my personal information including SSN and DOB.
I then emailed XXXX XXXX ' office and was told by XXXX that he would escalate the mistake to PennyMac.
On XX/XX/2020, I received a Credit Denial letter from PennyMac.
Both PennyMac and XXXX acted carelessly and irresponsibly with my personal information and should be held accountable.
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| 04/07/2017 |
Yes |
- Mortgage
- Conventional fixed mortgage
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- Loan servicing, payments, escrow account
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Web |
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I have had PennyMac as my mortgage company for over 2 years and they are consistently not paying my taxes. Money is coming out of my account in escrow each month. Most recently I called on XX/XX/2017 after I received a late notice from my tax collector. They said they would process for payment. A month later I received a judgment from my township because my taxes were n't paid. A customer rep said a payment was made for {$1300.00} on XX/XX/2017 - nearly 2 months after I called. This does not include any late fees. I 'm appalled this continues to happen. I 've asked them to please remove the {$220.00} PMI fee that I pay them to insure my monthly payments are made. What assurance do I get my taxes will be paid?
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| 06/10/2020 |
Yes |
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Web |
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In XX/XX/2017, I purchased a house with my ex fianc who is XXXX/XXXX XXXX. A quitclaim deed was included in the closing documents package. I signed all the closing documents as lender and ex fianc directed to me. After the closing I found out I lost the house at the time I purchased the house. Now Im responsible for the mortgage of the house I never owned. Currently the ex fianc and his wife are living in the house. They are not making the mortgage payment. Lender filed law suit against me for the mortgage {$250000.00}.
I reached out to the lender asking for the explanation why the quitclaim deed was part of mortgage documents. They said they were not aware of it and Im still responsible for the mortgage.
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| 12/06/2023 |
Yes |
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- Closing on a mortgage
- Delays with the closing process
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Web |
Servicemember |
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I sold my home to my friend using the VA transfer process. We started the process in XXXX XXXX and the mortgage company was PennyMac. PennyMac dragged their feet on the process, even acknowledging they didn't even start looking at the transfer until nearly 45 days after receiving the request. Due to PennyMac 's delays, lack of communication and the inability to even get ahold of them, the sell of my home to my friend took nearly 5 months. My friend and I are both active duty in the military and this occurred during both of us conducting a military move. PennyMac 's delay cost me thousands of additional dollars in hotel and food expenses as I couldn't close on my new home until the transfer was complete.
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| 10/23/2023 |
Yes |
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- Applying for a mortgage or refinancing an existing mortgage
- Application denials
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Web |
Servicemember |
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My home is under contract for purchase. I have a VA assumable mortgage with Pennymac Mortgage Company.
They are telling me that the buyer is not qualified to assume the loan.
The buyer has been qualified by another lender for a higher amount at a higher interest rate. So Pennymac is not truthful about this.
The buyer is paying cash for the balance of the purchase price and only assuming the existing VA assumable mortgage.
It has been over 90 days since the assumption paperwork has been submitted and now Pennymac has requested the buyer to re-apply and provide more documents.
They are not following standard lending procedures.
I think they do not want to do any assumble loans.
Thanks for your help.
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| 01/15/2021 |
Yes |
- Mortgage
- Conventional home mortgage
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Web |
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Pennymac made multiple mistakes when creating my refinance documents : 1. Repeatedly failing to remove an unwanted escrow account that increased the amount of the loan 2. Listing a family member who should not be on the loan because they are out of the country for the next several years and were never intended or needed as a signer The refinancing process has now exceeded 75 days, and it is impossible to reach a loan agent by voice after more than a dozen phone calls.
After repeated failures to correct these mistakes and deliver a new electronic version for us to review, we met with the title agent to sign the closing documents today and had to cancel because mistake # 2 above was still not corrected.
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| 03/24/2020 |
Yes |
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- Struggling to pay mortgage
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Web |
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Penny mac is offering assistance to srtugling homeowners.i have a major problem that although they are willing to assist .if a borrower clicks on yes to accept assistance it offers no specifics or description on assistance.Its almost like making a deal with the devil.for assistance someone needs to defer 2 months like myself and has and intrest rate of 3.250/ i have consented to the possibility of being placed in a forty year with a market intrest rate over that.?? borrowers will be inundated with intrest paymnets to achieve a lower payment.i think this definetly needs to be looked at. this in the long run will hurt borrowers and pennymac profiting handsomely, i need assistance but not at that price.
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| 12/08/2020 |
Yes |
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Web |
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Mortgagor : XXXX XXXX Complainant : XXXX & XXXX XXXX RE : XXXX XXXX XXXX XXXX XXXX GA XXXX Loan # XXXX Attention Sir or Madam : We sold and closed on property on XX/XX/2020 and had Suspense Account - {$6800.00} Escrow- {$2100.00} I verified with 3 PennyMac representatives and Escrow representatives and attorney XXXX XXXX XXXX that loan was paid in full and received by wire transfer on XX/XX/2020.
I called today ( XXXX ) and was told that only {$100.00} was showing as a refund. Our complaint is we should be receiving a greater amount than this from PennyMac.
Our refund should be {$6800.00} and no less than {$4100.00}.
Please investigate and help us recover monies owed to us.
My email is XXXX XXXX
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| 04/25/2018 |
Yes |
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- Trouble during payment process
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Web |
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I have been trying to access my account online since XX/XX/XXXX/XX/XX/XXXX. I have made numerous calls and have been hung up on. When I call I am asked to verify my information and once I do the CSR reads the notes and either tells me there is no update and I will get a call once there is. Or they will transfer me to tech support, who tells me my online account is still not fixed and they will call me when it is. Today during a call someone named XXXX who claimed to be a senior customer service rep hung up on me. I just want to access my information. I also asked for the transcripts of all of my calls and was told I do not know how to get those for you, here is a mailing address that might help you.
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| 09/23/2015 |
Yes |
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- Loan servicing, payments, escrow account
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Web |
Older American |
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In XXXX 2015 we got a pre-foreclosure letter. We had several conversations, as we have always paid at least 2x 's the amount due or more. They said that they were sorry and it was a mistake that we got the letter. On XXXX 2015 statement, they added {$780.00} fee for FORECLOSURE FEE. I have contacted them by e mail and phone and every one I talk to says that a supervisor will call me back. No such luck. No one had responded. I have had to refinance this loan to get away from PennyMac and their " computer errors ''. The pay off notice that was given to the new company has " Foreclosure fee '' listed. This has caused some problems with the new lender. I want this fee reversed and they send me a refund.
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| 07/28/2015 |
Yes |
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- Loan servicing, payments, escrow account
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Web |
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I am on a home modification with XXXX and they went out of business. Unbeknownst, to me, XXXX XXXX, the investor, who has not been supportive sold my loan to this ... Penny Mac Loan in XXXX, CA. This so called bank or whatever they are had stolen my money, forged my name and continue to harass me. They continue to increase my payments and had the audacity to say to me. I quote, if I did not like it to walk away. These people are vicious, unprofessional, incompetent and I haaaaaaaaaaaaaaaate them. In all of my life, I have never dealt with such beasts. I am requesting an investigation against these people and their license to be permanently revoked. This business is not a business. They are a fraud.
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| 12/07/2020 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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I started the process to have the PMI removed from my mortgage payment over 45 days ago and every time I call to follow up I am given the run around. I have been put on hold for too long numerous times or told someone will call to update me and nobody ever calls. The process has taken longer than what they stated meanwhile they keep charging me PMI when it should have been removed by now. This is completely unacceptable. I have asked to speak to the person handling my request and was told I could not reach them directly and they are never able to connect me. Seems like a scam to delay the process so they can keep charging. I would like to be contacted by someone who can make a final decision ASAP.
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| 04/13/2021 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
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- Problem with a credit reporting company's investigation into an existing problem
- Their investigation did not fix an error on your report
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Web |
Servicemember |
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My loan was place into forbearance last year. I was at the time 30 days late.
Every month pennymac reported loan as 30 days late, for that month. Lower credit score monthly. I reach out to pennymac ask how to update loan, I received a email extra paining the following.
That per the cares act when the late payment is as paid XX/XX/XXXX payment the loan would be reporting would be up dated to current in forbearance.
XX/XX/XXXX received email Made payment and it was posted to account XX/XX/XXXX.
The supervisor informed me that although the loan was not longer 30 days past due That the loan would still be reported as 30 days late in forbearance.
I need help my credit score has be reduce to poor.
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| 11/20/2018 |
Yes |
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- Struggling to pay mortgage
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Web |
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I HAVE APPLIED FOR FINANCIAL ASSISTANCE ON MY FHA LOAN WITH PENNYMAC, I WAS RECENTLY DENIED STATING THAT PENNYMAC DOES NOT HAVE TO FOLLOW FHA GUIDELINES. I ASKED WHY AND THEY SAID THAT THEY ARE THE INVESTOR OF THE FHA LOAN AND THEY CAN MAKE ANY RULE AND NOT FOLLOW FHA GUIDELINES. THIS IS ABSURD AND NEEDS TO BE CORRECT AS I HAVE READ THE 1009 PAGES OF THE FHA GUIDELINES AND IT STATES THAT IF I HAVE MADE 4 PAYMENTS AND HAVE HAD THE LOAN AT LEAST 12 MONTHS SINCE ORIGINATION WHICH ALL HAVE BEEN MET I CAN BE REVIEWED. HOWEVER, PENNYMAC STATES THAT THE ABOVE STATE DOES NOT APPLY TO THEM BECAUSE THEY ARE PENNYMAC. I HAVE ATTACHED THE PAGE FROM THE FHA GUIDELINES TO SHOW WHAT PENNYMAC SHOULD FOLLOWING.
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| 08/06/2021 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
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- Incorrect information on your report
- Information belongs to someone else
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Web |
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These accounts don't belong to me. Please remove them form all 3 credit reporting agencies. please see below the list of accounts that are reporting derogatory on all 3 credit reporting agencies : 1. Identity Theft Chapter XXXX Bankruptcy Case Number : XXXX This is not mine.
2. Identity Theft XXXX Date of inquiry : XX/XX/2020 This is not mine.
3. Identity Theft PENNYMAC Account Number : XXXX This is not mine.
4. Identity Theft XXXX Account Number : XXXX This is not mine.
5. Identity Theft XXXX XXXX Account Number : XXXX This is not mine.
6. Identity Theft XXXX XXXX Account Number : XXXX This is not mine.
7. Identity Theft XXXX XXXX XXXX XXXX Account Number : XXXX This is not mine.
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| 02/16/2018 |
Yes |
- Mortgage
- Conventional home mortgage
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- Problem with a credit reporting company's investigation into an existing problem
- Investigation took more than 30 days
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Web |
Servicemember |
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Re : erroneous item XXXX XXXX XXXX # XXXX reported by your firm to XXXX . I have repeatedly disputed and requested verification and validation of this inaccurate debt for over two years now. XXXX XXXX XXXX has responded only with improper verification form letters that provide no backup documentation or proof of this debt being mine. To properly validate a debt by law, a copy of the original contract signed by and obligating me to the debt must be provided to myself. XXXX XXXX XXXX has negligently and willfully failed to validate this debt, and is in violation of sections 611 ( a ), 616, and 617 of the FCRA, 15 U.S.C. 1681i ( a ), 1681n, 1681o, subject to a {$1000.00} fine for each instance.
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| 05/12/2017 |
Yes |
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
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Our mortgage is currently serviced by PennyMac. They have started sending us deceptive advertising, telling us to re-finance to 'save money ' despite the fact that the refinance would be at a HIGHER rate ( 1.25 % higher ). From their email : BEFORE Refinance AFTER Refinance Current Rate : 3.25 New 30-yr Fixed Rate/APR : 4.5 / 4.558 Current Payment : {$930.00} New Payment : {$820.00} Potential Monthly Savings : $ 110.55** Potential Annual Savings : $ 1,326.56** Despite having an asterix with the following disclaimer : " *Refinancing your existing loan may result in your total finance charges being higher over the life of your loan. '' I believe their advertising is deceptive and misleading.
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| 03/30/2020 |
Yes |
- Mortgage
- Conventional home mortgage
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
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The lender takes my application for a mortgage .... allows me to lock a rate and offers a free extension on the rate lock to ensure my business and then because I want to change from the 30 yr to 15 yr term - they tell me I have to take worse case rate. Or if I want to change the dollar amount of the loan application, I have to take worse case rate ... .. they are saying that I am not guaranteed the rate from the date that I locked .... I am forced to take the current rate .... so on XXXX I would have gotten a {$760.00} credit for that rate - today I have to pay over {$10000.00} for that rate ... ..
What is this? I locked - why is this considered a change in application?
Lender -PennyMac
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| 05/06/2019 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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We have water damage to our home and the insurance company made the check payable to Pennymac and the flooring company. After several months the mortgage company is still refusing to endorse the check over to the flooring company. We ( myself and the flooring company ) have done everything the mortgage company has asked. The mortgage company keeps saying one thing and then changing things the next time you call. they even told the flooring company that they called me and I cancelled an inspection of my house and that is why they could not endorse the check. NO ONE from the mortgage company has EVER called me. This is so frustrating and I have spent way to much time dealing with this company.
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| 02/22/2018 |
Yes |
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- Trouble during payment process
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Web |
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During hurricane Irma we were granted deferment for 5 months! We were told they would put the amount at the end of the loan or work out a suitable affordable repayment and that our mortgage would go up only minimally. After 5 months of derferrement we were told we were being refinanced and were given no choice in the matter. Thus we are 2 payments into XXXX 3 month trial period paying {$300.00} more monthly then before Irma and are XXXX dollars in the rears. We have no idea what interest rate or mortgage amount we will end up with and THIS IS UNFAIR we maybe set up for failure and not even be able to afford the new milysrery payment and hence lose our home to foreclosure. Please advise
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| 01/26/2021 |
Yes |
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- Struggling to pay mortgage
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Web |
Servicemember |
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I requested a forbearance on/around XX/XX/XXXX due to the impact on my employment incident to COVID-19. On XXXX XX/XX/XXXX, I recorded my phone call with a supervisor of PennyMac, my lender, refusing to assist me with forbearance-related questions because I would not provide answers to additional questions. My understanding of the CARES Act is that I only need to attest that I am experiencing a hardship due to COVID-19. I relayed this to the supervisor, but she stated the lender required additional information. I threatened to take legal action and report PennyMac 's violation, but this did not deter PennyMac 's behavior. The supervisor made it clear that the forbearance was optional.
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| 05/09/2017 |
Yes |
- Mortgage
- Conventional home mortgage
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- Struggling to pay mortgage
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Web |
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I fell behind due to lack of hours at my old job and due to the fact the shower collasped in this house, my car broke down and the furnace broke down. I have since gotten a good job with consistent hours good pay and receive adequate income from child support and ssi for my XXXX daughter and this company says I do not have adequate income. I have filed a dispute against the under writer to no avail. I really feel like I have been discriminated against.as a single parent and parent of a XXXX child I have called multiply times to talk to the under writer and have been bounced around and finally was able to leave her a message to this date she has yet to call me I have all this noted
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| 01/31/2017 |
Yes |
- Mortgage
- Conventional fixed mortgage
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- Loan servicing, payments, escrow account
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Web |
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I received a delinquent notice for City property taxes on my condo on XXXX/XXXX/XXXX. PennyMac was supposed to have paid these taxes in XXXX. The city had added late fees and penalties to the total. I called PennyMac on the same day and they said the matter would be resolved. The taxes were due XXXX/XXXX/XXXX and I told this to PennyMac on XXXX.
After calls on XXXX, XXXX, and XXXX, along with an email on XXXX, PennyMac still did not pay the taxes from escrow where there was enough money present to cover the amount. I have now paid the taxes myself and want PennyMac to reimburse the taxes from my escrow account and to also reimburse the late fees and processing fees from their funds.
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| 10/27/2016 |
Yes |
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- Settlement process and costs
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Web |
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I purchased a home in XXXX 2016. The home was a XXXX foreclosure in need of repair. After closing I spent in excess of {$10000.00} in repairs. I called my mortgage company Penny Mac to inquire about a new property assessment and removal of Mortgage insurance. They told me that this was not allowed with the type of loan I had. That I am required to pay PMI for the XXXX loan term or I could re-finance. I was not familiar with anyone reviewing these terms with me before. I asked for the loan documents with this particular disclosure be sent to me. Over a month later, I received the documents I requested. However, it is very apparent that the disclosures were " doctored '' altered/forged.
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| 11/27/2020 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
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- Incorrect information on your report
- Account status incorrect
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Web |
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On XX/XX/2020, I entered into a forbearance agreement with PennyMac. Per the agreement, the forbearance was effective " immediately '' on XX/XX/2020. The forbearance ended on XX/XX/2020. On XX/XX/2020, PennyMac received a wire transfer for full payoff of the mortgage. As of writing this dispute, my credit report reflects a 90 day late payment for XX/XX/2020. I have talked to several representatives with PennyMac. They all are stating they have no record of submitting the delinquency to XXXX, however it is clearly there. This is unfair, unjust, and dishonest on behalf of PennyMac. I am filing this complaint to have the 90 days past due for this account deleted from my credit history.
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| 04/07/2021 |
Yes |
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
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I called my mortgage company, Penny Mac to request to take my loan out of the covid forbearance program and begin making payments. I sent correspondence to them XX/XX/2021 prior to the request being made and I have yet to hear from them regarding that email. Since I have requested to have the mortgage reinstated, they told me I had to complete a modification, which I have sent everything they have asked of me and every time I call they ask me to send the same documents that I have previously submitted. The reps also attempt to reach out to the underwriter, usually with no success. This is frustrating as every time I call the representatives tell me I need to submit something else.
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| 10/12/2020 |
Yes |
- Debt collection
- Mortgage debt
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- Attempts to collect debt not owed
- Debt was result of identity theft
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Web |
Servicemember |
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Dear CFPB, Please find my complaint against PennyMac who refused to provide me requested documents - copies of PennyMac 's receipts of payments for my property insurance to XXXX XXXX and FEMA, which PennyMac as so-called Servicer must do from my escrow account.
PennyMac sent me copies of tax payments receipts made by XXXX, XXXX, PennyMac 's tax vendor who is not affiliated with PennyMac.
But PennyMac failed to attach insurance payments receipts.
I demand copies of ALL receipts from PennyMac to XXXX XXXX XXXX company for home insurance from XX/XX/2019 to present time ; and for PennyMac 's payment from my escrow to FEMA for flood insurance which was made by PennyMac in XXXX 2019.
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| 07/12/2022 |
Yes |
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
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Pennymac denied my loan application because they said they couldnt verify my occupancy. I have lived in the home since I bought the house. I did not have the forms that they asked for so I offered alternative forms that would prove my occupancy such as a pest control bill, a security system bill, and an internet bill. They said these documents did not prove I lived there. I offered other documents such as my pet adoption papers, property protection on my homeowners insurance and other alternatives however they still rejected my refinance. I have lived in the property since I purchased the home back in 2018 but they are stating that I have not and denied my refinance application.
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| 10/09/2018 |
Yes |
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
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I have a mortgage with PennyMac loan services. My actual valance is {$210000.00}, for 25 years for and my home value is {$310000.00}. I have a good payment history and it is my only loan with them.
when I called them to cancel my PMI. they told me that it is not possible because it is for the life of my loan.
Then they told me to avoid the PMI I have to refinance my loan, but what happen : they increase the percentage of my loan to 4 % to 4.78 %, and I have to pay my closing cost again for about {$5000.00} and {$450.00} for the new appraisal. and the new loan will be for about 30 years.
What happened with them? I don't understand that the PMI will take out with no problems.
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| 11/07/2023 |
Yes |
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- Trouble during payment process
- Escrow, taxes, or insurance
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Web |
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I wrote the company twice in their secure messaging function. I wrote them on XX/XX/XXXX requesting that they remove escrow from my monthly payments. They responded on XXXX denying my request saying the XXXX did not meet their thresholds for removing escrow. I wrote them back saying that the XXXX does meet the threshold and I asked them what number they were using to obtain the estimated value of the property. They never provided the XXXX and instead wrote me back on XX/XX/XXXX once again denying my request and once again not providing any information on what number they were using to estimate the value of the property. I owe $ XXXX on the house and its value is easily $ XXXX.
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| 10/03/2020 |
Yes |
- Mortgage
- Conventional home mortgage
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- Problem with a credit reporting company's investigation into an existing problem
- Investigation took more than 30 days
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Web |
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I am disputing information on my Pennymac mortgage which is now closed. The late payment dates that the company is reporting is incorrect. They are listing dates that I actually paid. I sent the company over verification of the dates in question but they did not respond.
Furthermore, during the times that I was late with my payments, I informed the company and provided documentation that I was out of work on medical leave due to an unexpected illness. I have since returned back to work and have paid all my bills on time.
The account is now closed but the late payments are hindering my score and my financial progression which is crucial during the current COVID-19 pandemic.
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| 10/26/2017 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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I received a certified letter from Pennymac Loan Service informing me that my escrow account was short and that my payment would increase from XXXX a month to XXXX a month. The contract I signed indicated a payment of XXXX at a fixed rate. The only reason I bought a house is too ensure that I have a fixed payment so that I can budget for it. If Pennymac ca n't do proper accounting, then they should try another line of work. I have no intention of changing my monthly payment. They will need to make an adjustment on their end that does n't effect the monthly amount that I agreed to. How do we allow the same criminals that cost me a house in 2009 to open doors under a new name?
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| 04/22/2021 |
Yes |
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- Trouble during payment process
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Web |
Older American, Servicemember |
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The last two years they say my escrow has changed, but they give no notification. They then hold the payment in escrow for in my case 22 days. They said my payment increased {$30.00} last year it was {$12.00}. They hold the money in escrow and due not give interest credit for that time period. I am sure they should be required to disclose all interest that they earn from doing this to thousands of VA loans. Veterans should not be subjected to this kind of fraud. They always say they have tried to contact the borrower, but can not provide proof. This is consumer fraud against our veterans. I am filing this complaint for all veterans who are subjected to this consumer fraud.
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| 08/19/2020 |
Yes |
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- Trouble during payment process
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Web |
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I always make my payments before they're due. On XX/XX/2020, I made my mortgage payment {$2500.00}. I did not find out until XX/XX/2020, they put my XXXX payment all to principal. Since XX/XX/2020, I have had to call every month, because XXXX told me I never made a payment. The incompetent customer service representatives did not figure out the issue until XXXX of this year. They have charged me late fees every month, and continue to tell me I didn't make a payment each month. They're going to ruin my credit due to their own mistake. I have called at least 5 times, for them to fix the problem. Each time I have called, they have refused to fix the problem that they created.
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| 09/11/2021 |
Yes |
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- Trouble during payment process
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Web |
Servicemember |
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PennyMac loan servicing company is committing fraud. I have completed all three of my home loan modification process trial payments. PennyMac Loan Servicing Company ( Bank ), stopped my FHA loan modification process, placed my payment on the back end of my home loan and sent a notice stating partial payment. PennyMac Loan Servicing Company is pretending like I was not in a modification trial period, pretending like I did not submit any documents to them and proceeding with my foreclosure. PennyMac is taking advantage of the Covid-19 crisis and demands and housing market crisis. They are lying to the courts too speed up foreclosure, stating I did not respond for mediation.
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| 07/07/2021 |
Yes |
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- Struggling to pay mortgage
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Web |
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I have called my mortgage company several times in attempt to bring my account current I am the deed owner of my property and I am trying to take advantage of all the government options available to me in order to initiate a partial claim and push my past due payments to the end of the note when I purchased my house I purchased it with an ex-boyfriend 10 years ago but I am the deed owner to the property.I need assistance in finding ways to bring my account current I am not understanding why it requires his signature since I have no communication with him and I have been living in this property and handling all house payments for the past 10 years Im running out of options
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| 06/28/2023 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
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- Incorrect information on your report
- Information belongs to someone else
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Web |
Servicemember |
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PennyMac Financial Services has erroneously reported a mortgage on my credit report. I disputed the account through XXXX, and PennyMac responded by removing the account. However, PennyMac relisted the account without explanation. This has prevented me from purchasing a new home- XXXX denied my mortgage application in XXXX due to this account. I only purchased one home in XX/XX/2019 through XXXX, where I still reside. It's a three-bedroom home. My wife is XXXX with our XXXX child, and the due date is expected in XXXX. We're running out of time to purchase and move into a suitably sized home. Please help and contact me with any questions or requests. Thank you very much.
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| 10/28/2015 |
Yes |
- Bank account or service
- Other bank product/service
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- Problems caused by my funds being low
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Web |
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THIS IS NOT THE FIRST COMPLAINT I MAKE AGAINST PENNYMAC.
PENNYMAC DO NOT HAVE LEGAL STANDING, LEGAL CAPACITY OR LEGAL RIGTH TO CONTINUE ARRASMENT AGAINST ME AND MY ENTIRE FAMILY.
THIS TIME THEY COMPLAINT WILL BE AGAINST PENNYMAC, XXXX XXXX, PHONE # XXXX, WHO ILLEGALY JOIN OR WAS HIRE BY PENNYMAC IN CONJUCTION WITH THE XXXX XXXX, BROKER NAME XXXX XXXX, LIC # XXXX XXXX WITH PHONE # XXXX.
I ALREADY CONTACT MY CONGRESSMAN XXXX XXXX TO INVESTIGATE IN CONJUCTION WITH FCPB, TELEPHONE # XXXX, PERSON TO CONTACT XXXX XXXX DIRECTOR OF CONSTITUENT SERVICES.
THE ISSUE IS NOT ONLY MY PROBLEM, IT 'S US D.O.J AKA. US DEPARTMENT OF JUSTICIE. THIS CONSTITUED STREAM FRAUD CONSTITUTE.
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| 11/20/2017 |
Yes |
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- Struggling to pay mortgage
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Web |
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I received a trial modification agreement where the taxes and hazard insurance for escrow is incorrect. The correct amount for the annual hazard insurance, the monthly escrow is {$100.00} and the annual property tax, the monthly escrow is {$180.00}. I asked Penny Mac to correct the monthly escrow amount to reflect the correct amount which will lower my monthly mortgage payment. They want me to sign the modification documents on an agreement that is not correct and if I sign that is agreeing to an incorrect escrow payment.
Hazard Insurance annual premium {$1200.00} divided by 12 equals {$100.00} XXXX XXXX XXXX County Trustee {$2200.00} divided by 12 equals {$180.00}
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| 03/29/2023 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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PennyMac failed to pay my homeowner 's insurance on time from my escrow account resulting in me have to call both PennyMac and my insurance agent to ensure that my house would be covered during the lapsed period of time. This is the basic job of an escrow account and PennyMac has shown an inability to perform that job. I requested deletion of my escrow account, however PennyMac will not provide me relief from their terrible " service ''. If my mortgage servicer can not do its basic job, then I should be able to remove the requirement for my money to be escrowed by them. The only person suffering here is me. There is no penalty to PennyMac for failure to do their job.
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| 02/18/2023 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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I have made several attempts to resolve this issue with XXXX. They continue to hold/misapply my payments resulting in principal application much later than payment received date and overcharging me interest. I make XXXX XXXX payments per month which they receive on the XXXX and XXXX of each month. They continue to put these dollars in " suspense '' and not correctly reduce principal until the last day of the month when they apply the full {$2400.00} over. I pay early intentionally to reduce principal, this is not appropriate treatment of my payments, and effectively forcing me into a scheduled interest scenario, versus a true calc based on principal days outstanding.
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| 10/12/2022 |
Yes |
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- Trouble during payment process
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Web |
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I filed for XXXX XXXXXXXX bankruptcy on XX/XX/2022, and PennyMac Mortgage is reporting that I am in arrears of {$3300.00}. PennyMac reported this amount to the courts for my XXXX XXXXXXXX bankruptcy but was unable to tell me how they arrived at this amount when I called their collections department.
When I called PennyMac I spoke with the following representative who reviewed the proof of claim submitted : XXXX. ) XXXX XXXX XXXX. ) Title : Escalation Team - Collections Department 3. ) Office Number and Extension : ( XXXX XXXX XXXXXXXX - Ext. XXXX XXXX at Pennymac confirmed he was unable to see calculate any arrears on my mortgage loan since my loan is paid to date.
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| 03/20/2020 |
Yes |
- Mortgage
- Other type of mortgage
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- Struggling to pay mortgage
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Web |
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My concern is that even when I pay partial payments towards my monthly mortgage payment, the company is still charging me a {$15.00} fee to have someone go out and confirm that I still reside at the house and that it is not vacant. I have tried telling them that I reside in my home and do not plan on losing my home so why do they keep charging me this fee every month to have someone ride by my house. Yes, I admit that I pay my mortgage 15 days late ; however, this fee is causing me more debt than I can afford. I think it's just a cruel tactic for them to collect more money when not necessary. I can understand if I was 2 months or more behind but this is not the case.
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| 10/18/2017 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
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Web |
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I have a mortgage account with XXXX XXXX. On the most recent statement, they have added a {$25.00} charge under " Other Fees '', with no explanation whatsoever, and no reason I can fathom as to why it would be legitimate. It does not appear on their online statement.
I have automatic payment enabled, and I 'm assuming that they 're hoping I would not notice, and they can just scam me for extra money. I plan to call their customer service, but given their previous billing issues and resolution process XXXX which, as with most companies, they make as cumbersome as possible, and requires long hold times and complaint elevation ), I do n't know how long that will take.
|
| 11/04/2019 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Problem with a credit reporting company's investigation into an existing problem
- Investigation took more than 30 days
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Web |
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This particular account situation that is lately filing on my own credit document has a seriously unfavorable relation to my personal ability to obtain a present loan application. I highly recommend you generate verification that PENNYMAC LOAN SERVICES LLC has been reported completely in accordance with the Fair Credit Reporting Act regulations, it's really a serious problem to mis-report. Moreconfirmation of the aforesaid item too. My proper request mustover, I was never 30 days/60 days/120 days late in any of my payments and I'm not greatly tuned in to the date opened so I prefer to ask you be investigated as soon as possible and confirmed to be correct. Thanks!
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| 09/20/2022 |
Yes |
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- Trouble during payment process
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Web |
Older American |
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Pennymac loan servicing company called me several times this month. I returned the call and Pennymac told my mortgage payment was not made and late.
I have automatic bill pay setup via XXXX, on the XXXX of each month the mortgage payment is processed. I have been using this method for three years now.
The Pennymac representative told me my monthly payment is past due and requested a payment.
I told the Pennymac representative this must be a mistake and I logon to XXXX online banking to check past bill pays. The mortgage payment was sent to Pennymac, they told the payment and applied it to principle reduction. They accused me of late payment.
This is abuse.
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| 04/15/2021 |
Yes |
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- Trouble during payment process
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Web |
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In XX/XX/2020 hurricane Laura hit our home and damaged quite a bit of the outside. Our insurance company took care of us, but our mortgage company Penny Mac has continuously withheld money our money from the insurance company for over 8 months. We have repeatedly called and sent them every document they asked so they would release our funds we've already spent out of pocket to repair our house. Of the ~ {$8000.00} depreciation check sent to us by the insurance company, Penny Mac refused to release the total amount of what insurance sent us and what they agreed to release, ~ {$2600.00}, has been repeatedly denied due to constantly changing paperwork requirements.
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| 03/26/2021 |
Yes |
|
- Struggling to pay mortgage
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|
Web |
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I was unemployed due toXX/XX/XXXXsince XXXX, XXXX. I was placed in a forebearnce program with PennyMac. I am now employed and have been since XXXX, XXXX. I submitted an application for a modification to see if the missed payments can be applied to the end of my loan and was denied because i have a previous modification in XXXX and i will not qualify until XXXX, XXXX. I asked if i can move the missed 14 payments to the end of my loan and they said that is not option.. I have to pay the $ XXXX or consider a short sale. I called XXXX at Neighborhood housing and he referred me to you. They are not willing to give me other options. I need help.
Thank you, XXXX XXXX
|
| 11/03/2021 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
|
- Problem with a credit reporting company's investigation into an existing problem
- Their investigation did not fix an error on your report
|
|
Web |
|
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I was in a forbearance plan on my mortgage with Pennymac in 2020. Per the Cares Act the mortgage was not to be reported late. I have no reported lates for 2020 on XXXX or transunion. The XXXX report shows no lates until XX/XX/2020. The month I paid off the mortgage. I have called Pennymac and get no response after putting in a complaint. I have disputed with XXXX several times and each time a new error pops up. I have been denied a mortgage due to this error. Im told my report shows my payment is $ XXXX per month. XXXX refuses to fix any errors and neither does Pennymac. Im being harmed financially waiting another year to buy will put homes out of reach for me.
|
| 09/01/2021 |
Yes |
|
- Trouble during payment process
|
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Web |
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I had a late payment that was 30 days late in XX/XX/2019. I quickly caught my payment up. The reason I was late was that the omnibus hadn't been signed yet and I was furloughed. As soon as I was reimbursed, I paid the payment. I had never been late prior to or since then. I've asked the company to make a good faith revision of the credit reporting and they refused. It's just not fair that the government budget wasn't signed in time and my credit suffers. Especially when I have an impeccable payment history. It had never occurred before or after this. This is really hurting XXXX employees if they don't have savings to cover the bills due while missing paychecks.
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| 05/17/2023 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
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Submitted a request to remove PMI from current loan. During the information gathering process I informed loan servicer that significant updates were made and confirmed what was done and when it was done thus dropping the criteria for current evaluation to 80 % instead of 75 %. The loan servicer reached out again to confirm date of upgrade and instructed me to pay a fee of {$190.00} to start the realtor opinion process.
When receiving my rejection letter I was informed that my updates did not qualify even though there was no mention of this when going through the process. My current evaluation made the equity reach 79 % but PMI is being refused to be removed.
|
| 06/02/2015 |
Yes |
|
- Loan servicing, payments, escrow account
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|
Web |
Older American |
|
XXXX. I am told that PennyMac is obligated to return all monies in my escrow account within 21 days. I called PMac last week and was told the check was sent on the XXXX or XXXX of XXXX. I called PMac today and advised them they were in violation of the law as it is now 30+ days since closing. I was put on hold for about XXXX minutes after telling the rep I wanted the check Sent by XXXX. I was then transferred to a voice mail where I repeated the problem and again requested the check which is for about {$400.00}. Your aid is requested and it feels good to have a place to go to when people with wobbly business practices display their contempt for us. Thanks!!
|
| 05/21/2023 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
|
- Problem with a credit reporting company's investigation into an existing problem
- Investigation took more than 30 days
|
|
Web |
|
|
I XXXX XXXX XXXX XXXX last 4digits of my social XXXX, reviewed my Consumer Reports and noticed that I had three late payments on my Penny Mac account # XXXX, in XX/XX/2022, XX/XX/2022 and XX/XX/2022, that I was never late for. Consumer Reporting Agencies have assumed a vital role and have a responsibility to report Consumer information to the best of their ability with Maximum Accuracy. I have never been late on payments for this account. Please investigate and provide Proof with statements showing that these payments were late. If proof can't be provided I demand these payments be updated to on time as should be as I was Never Late. Thanks, XXXX XXXX XXXX
|
| 01/18/2022 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
|
- Incorrect information on your report
- Account status incorrect
|
|
Web |
Servicemember |
|
Do to the epidemic I have been effected and unable to work since XX/XX/XXXX to now XX/XX/XXXX. @ at XXXX point hospitalized, On XX/XX/XXXX I paid my XX/XX/XXXX payment on XX/XX/XXXX and included my {$30.00} late fee a total {$1000.00}, Since XX/XX/XXXX to now PennyMac has been harassing me with phone calls all hours of the day and night as well refuses to recognize my XXXX 's, I tried talking withy them ask for a fortberence/releaf and stop calling me and harassing me as our conversations go no were Quote : they said my account must go basically 90 days in the rear before asking for such, Iam not even 30 days late referring to grace period to grace period.
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| 03/18/2021 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
|
|
PennyMac failed to pay my property taxes.
They were notified the day I found out on or around XX/XX/XXXX. The taxes were due on XX/XX/XXXX.
I was forced to pay the taxes myself because I could not get them to pay despite repeated phone calls. Including interest.
They assured me that they would refund the money that they were supposed to pay the state/county. I gave them some time and leeway and they have failed to return the money.
I currently have an excess amount in escrow - almost $ XXXX and they have failed to return it to me in a timely manner.
I feel like their actions are a violation of law and I am submitting my complaint for this reason.
|
| 10/13/2019 |
Yes |
|
- Problem with a credit reporting company's investigation into an existing problem
- Their investigation did not fix an error on your report
|
|
Web |
|
|
This particular account situation that is lately filing on my own credit document has a seriously unfavorable relation to my personal ability to obtain a present loan application. I highly recommend you generate verification that ( Account Name ) has been reported completely in accordance with the Fair Credit Reporting Act regulations, it's really a serious problem to mis-report. Moreconfirmation of the aforesaid item too. My proper request mustover, I was never 30 days/60 days/120 days late in any of my payments and I'm not greatly tuned in to the date opened so I prefer to ask your be investigated as soon as possible and confirmed to be correct. Thanks!
|
| 05/06/2022 |
Yes |
|
- Applying for a mortgage or refinancing an existing mortgage
|
|
Web |
|
|
PENNYMAC did not communicate well at all regarding my refinance. I was never called to discuss my appraisal, nor was I given a reconsideration when asked for it. I even asked for documentation stating a reconsideration was asked for and was told they did not provide that. My appraisal came in at XXXX less than what homes around me are selling for and my home was built in 2020. The company failed to enlighten as to why that was or work in my favor. The company failed to discuss the actual cost in fees to buy down my rate charging me an obscene amount in points. Without even mentioning it. I would highly advise anyone to use any company other than PENNYMAC
|
| 03/17/2023 |
Yes |
|
- Struggling to pay mortgage
|
|
Web |
|
|
Had reduction of wages by 25 % from XXXX to XXXX. Applied for modification with Penny Mac to assist with mortgage due to garnishment. They intentionally waited and prolonged my request as to report me to the credit bureaus for 30 days late. Then only reduced my monthly payment from XXXX to XXXX or so for proposed three months. But wanted to increase my interest rate from XXXX to > 6 % for them reducing payment to that. I would not sign the modification because it was predatory and unethical. So now they've tacked on all kinds of bogus charges to my loan. I tried to reach out to them to resolve but they're a predatory company that does not want to help.
|
| 12/02/2019 |
Yes |
|
- Problem with a credit reporting company's investigation into an existing problem
- Their investigation did not fix an error on your report
|
|
Web |
|
|
This particular account situation that is lately filing on my own credit document has a seriously unfavorable relation to my personal ability to obtain a present loan application. I highly recommend you generate verification that Credit Union has been reported completely in accordance with the Fair Credit Reporting Act regulations, it's really a serious problem to misreport. More confirmation of the aforesaid item too. My proper request must over, I was never 30 days/60 days/120 days late in any of my payments and I'm not greatly tuned in to the date opened so I prefer to ask you be investigated as soon as possible and confirmed to be correct. Thanks!
|
| 05/07/2019 |
Yes |
|
- Trouble during payment process
|
|
Web |
|
|
pennymac charging higher escrow portion than they ate entitled to, pennymac who receives a copy of my bill states my property taxes are XXXX .they afre not they are XXXX per year .spoke with XXXX but because she was having trouble answering question and copped and attitude conversation quickly deteriarated.considering penny ac has XXXX XXXX already twice borrower or borrower reps entitled to full explanation until borrower understands, under plausible questioning thiis XXXX was not equiped to answer why what would escrow shortage figure have been if base on correct property tax figure pmi wen t down homeowners only increased 20.EXTREMELY DISSAPOINTED
|
| 07/26/2023 |
Yes |
|
- Trouble during payment process
|
|
Web |
|
|
Received documents from PENNYMAC stating that a pre-foreclosure is about to start on my private property and I had 45 days to respond. I send several certified written requests to the XXXX, which they had 30 days to respond. However, PENNYMAC was the only one that responded and requested additional time to conduct a full review. On XX/XX/2023, two gently men showed up from safe guard property and removed the security door and place a lock box on the door per PENNYMAC request. However, I would like an explanation from the lender. I would also like a response from my written request that was send to all parties, as soon as possible. ( SEE ATTACHMENT ).
|
| 11/18/2015 |
Yes |
- Mortgage
- Conventional fixed mortgage
|
- Application, originator, mortgage broker
|
|
Web |
Servicemember |
|
My Wife & I purchased our house XX/XX/XXXX. My wife is a XXXX Employee. We have take out equity loan out on our property & put the money back into our home. XXXX our Mortgage was sold to Penny Mac by XXXX XXXX Bank. XXXX the home value dropped from {$470000.00} to {$280000.00} and Penny Mac was going to forgive {$180000.00} of our Mortgage. We started the paper work with Penny Mac and they claimed that we were not qualified for and loan modification. We had to hire an Attorney in order to force Penny Mac to modify our mortgage.
We were mislead by Penny Mac employees, lied to by Penny Mac employees and disrespected and bullied by Penny Mac employees.
|
| 11/18/2020 |
Yes |
|
- Trouble during payment process
|
|
Web |
|
|
I sent a check to Penny Mac from my insurance company to be double endorsed however they required additional information from the contractors to complete my roof which was received. Because the process took so long I ended up just paying for my roof to be fixed in full {$7500.00}. I provided the documentation to show I paid for the roof. {$4000.00} cash and {$3500.00} paid on my credit card. The inspection has been 100 % completed. They then advised that I needed to send a letter which I did and now they are telling me its still under review. Me paying this money out my pocket has put me in a Finacial hardship I need them to ship my check out ASAP.
|
| 12/05/2016 |
Yes |
- Mortgage
- Conventional fixed mortgage
|
- Loan servicing, payments, escrow account
|
|
Web |
Older American |
|
I have an Auto-Pay contract with PENNYMAC Mortage Loan Services, XXXX, CA XXXX, Morgage Loan # XXXX. My last monthly auto-pay of {$1300.00}, occurred on XX/XX/2016. I called customer service on XX/XX/2016 and asked about the XXXX monthly auto-pay which was not implemented. They told me they have turned off my auto-pay because the payment was less than {$1300.00}. Is this legal??? Their phone is XXXX.
My name is XXXX, XXXX, CA XXXX.
Email : XXXX, phone:XXXX I would like for them to honor the Auto-Pay contract I have with them. I do not see why they can not draw the final mortgage payment from my XXXX bank as they have done for the last 4-5 years.
|
| 06/22/2023 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
Older American |
|
After filing a complaint against Pennymac Loan Preccessing with your agency, I got a call from them within XXXX hours. Thank you!
Unfortunately they said they would send an email deleting my erroneous late fee and that I owed an amount of about {$97.00}. I don't think I owe that but to make the problem go away it is worth it to pay that amount.
I got an email from them but it did not reflect what the customer service rep explained. I will not talk to them on the phone again and will communicate via email only ( they said they would send an email about our discussion but I have not seen it ).
Please register this second compliant.
Thank you
|
| 06/23/2022 |
Yes |
|
- Trouble during payment process
|
|
Web |
Older American, Servicemember |
|
On XXXX, XXXX we notified PennyMac Mortgage that we changed insurance carriers from XXXX XXXX XXXX XXXX XXXX. We also stated that we paid XXXX XXXX the annual premium of {$1100.00} to start the policy. On XX/XX/2022, PennyMac withdrew {$1100.00} out of our escrow account for something we already paid for. This money HAS NOT been put back into the escrow account, as of XX/XX/2022. ANY refund from XXXX XXXX was to be applied to principal. HOWEVER, there is not refund from XXXX XXXX made to PennyMac Mortgage. XXXX XXXX made the refund check to us.
WE WANT OUR MONEY put back into escrow as they WERE NOT BILLLED by XXXX XXXX for a premium payment!!!
|
| 06/01/2022 |
Yes |
|
- Trouble during payment process
|
|
Web |
|
|
i was approved for the haf program. penny mac received money on my behalf from them. i was awarded 2 months of payments. when i called them because its should i owed a payment for this month even though it had been paid from haf. so i spoke to someone in that department they informed me that 1 payment was made and the remainder money, the exact amount of my next payment was going to be takin from my principal balance and not a payment!! this makes no sense as i was awarded 2 months of payments. so i currently will be behind if that isnt applied. this is not how this program was supposed to work! applying it to principal does not help homeowners!
|
| 09/18/2017 |
Yes |
|
- Struggling to pay mortgage
|
|
Web |
|
|
I was approved for a loan modification without the borrower signing any of the request for the loan Modification. after paying three months trial period. I received paperwork from Penny Mac! requesting for the borrower to sign the final mod documents. The borrower did a quick claim deed to me which I 'm the co-borrower as he was no longer interested in the property. I asked my mortgage company if there was a way I could get all docs signed without borrower due to the quick claim deed. They advised that he had to sign the documents or they could n't go through with the Modification. My home is now in foreclosure sale date is set for XXXX/XXXX/17.
|
| 12/02/2015 |
Yes |
|
- Loan servicing, payments, escrow account
|
|
Web |
|
|
Morgage payment late due date on XXXX.check made out XXXX.put in mailbox.was called by penny mac a few days later asking if payment was sent.told them date mailed ect.rep said it may have not arrived yet perhaps due to postal holiday on wednesday middle of week.told them that could be .XXXX on XXXX. Payment recieved 1 day past grace period .recieved on XXXX.due XXXX. Called company rep because i recieved a letter asking why i hadnt paid the XXXX late fee?? Called penny mac explaining holiday ect.they would not comprimise.i have included late fee with next payment but would like credit for fee. First time ever being late in 6 yrs mortgage paying.
|
| 05/11/2021 |
Yes |
|
- Applying for a mortgage or refinancing an existing mortgage
|
|
Web |
Servicemember |
|
PennyMac Loan Services , LLC owes my husband and I an escrow balance check in the amount of {$730.00}. This check was suppose to arrive in XXXX of XXXX, due to it being initiated on XX/XX/XXXX and it was originally given 3 weeks to arrive. I attempted to contact Penny Mac many times in XXXX & XXXX, to constantly busy phone lines. I was able to speak to a Penny Mac representative, in XXXX of XXXX, who " resent '' the check, and was told to wait another 5-6 weeks. The check still has not arrived and the formal complaint section on the Penny Mac website never actually submits a complaint, instead it produces an error message " unable to submit. ''
|
| 11/16/2018 |
Yes |
|
- Struggling to pay mortgage
|
|
Web |
Servicemember |
|
Pennymac wrongfully denies my loan modification based on my race and decides to use the typical standard statement they tell others stating claim my debt to income ratio was high. Well thats totally un-true and Ive provided plenty of evidence showing the expenses related to the house which will show my expenses pretty much totals or exceeds my income. My mortgage shouldnt have been more than {$1500.00} but of course, I got ripped off by XXXX XXXX XXXX and now Pennymac. I put 20 % down and still Im paying Mortgage protection insurance which doesnt benefit me at all. I demand a modification or Ill never stop complaining and making accusations..
|
| 11/07/2015 |
Yes |
- Mortgage
- Conventional adjustable mortgage (ARM)
|
- Loan modification,collection,foreclosure
|
|
Web |
|
|
Not sure where to start but the loan modification that i applied for with Penney Mac was on going but Penney Mac decide to move forward with the foreclosure sale even after stating in the month of XXXX that there was no sale date to worry about and the Loan Mod was in process I do n't understand why this company is XXXX XXXX on foreclosing on my home when i have supplied them with 99 % of the required documents for a loan modification review, I have repeatedly told Penney mac i would like to keep home and obtain a loan modification and not lose my home because of one outstanding document, which they have now as of the date of this complaint.
|
| 01/07/2016 |
Yes |
- Mortgage
- Conventional adjustable mortgage (ARM)
|
- Loan servicing, payments, escrow account
|
|
Web |
Older American |
|
To the CFPB this is concerning a complaint file previosly against XXXX, but at this point this financial institution have involved and other financial institution, the name of the financial institution is : Deutsche Bank Trust Company locate at XXXX XXXX XXXX XXXX XXXX ; XXXX XXXX, CA XXXX. This financial institution do not have legall right or legall standing do to the fact they did n't recall any endorsment or assignment and now they come to be part of strime fraud committed by all previous banking institution involved. In violation of Respa, Tila, Fair Collection Practice Act.I would like for CFPB to do a complete criminal investigation.
|
| 02/02/2018 |
Yes |
|
- Struggling to pay mortgage
|
|
Web |
|
|
I have a foreclosure sale date of XX/XX/2018. I had submitted my offer to the bank for a short sale. However, I submitted it to XXXX XXXX XXXX and they are no longer my mortgage company. I phoned Penny Mac Loans to try to get someone to postpone the foreclosure sale until they could review my current offer and the person that i spoke to was friendly but firm and stated that they will not be able to postpone the foreclosure sale but if i wanted to i could email over my documents to XXXX. I just need for the bank to give me a chance and review my offer. I am trying my best and doing what i can to make it through this tough and trying ordeal.
|
| 04/08/2015 |
Yes |
|
- Loan servicing, payments, escrow account
|
|
Web |
|
|
I made my XXXX mortgage payment early in XXXX 2014 to XXXX XXXX XXXX. I then received notification that as of XXXX XXXX, my loan servicing was being transferred to PennyMac. My XXXX payment was never transferred to the new servicer, and now I am getting notices that I am in pre-foreclosure, I have had 30 day lates reported to my credit report, and I have been assessed late fees monthly. I have called and spoke to PennyMac multiple times, along with the numerous phone calls and letters they contact me with accusing me on being behind on my payments. This has been going on for months, and they seem either unable or unwilling to resolve this.
|
| 06/29/2021 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
Older American |
|
Escrow analysis is erroneous with basic math errors. Called the mortgage servicer, asked for recalculation, emailed inside their website in secure email system, and received no coherent response regarding resolving or fixing this problem issue. Payment is proposed to go up about {$900.00} per month on a fixed rate loan. We agree the payment should go up due to escrow increasing from property tax, but their math calculations do not show correct projected escrow balances. Discussed with them, and the only response was a second PDF of same escrow analysis without corrections. Impossible to discuss directly with any of their escrow analysts.
|
| 01/03/2017 |
Yes |
- Mortgage
- Conventional adjustable mortgage (ARM)
|
- Loan modification,collection,foreclosure
|
|
Web |
Older American |
|
I have been attempting to save my home from foreclosure with a loan modification with Penny Mac Loan Services. They gave me a loan Modification in XXXX that was supposed to be for {$2100.00} per month per a phone conversation but was set at {$2700.00} and none of the Loan Amount and Past payments were reduced as also promised and I got no disclosure of what the Loan Amount was at all, just payment information only. I have been calling since XXXX to try to get a New Loan Modification set up with reduction in Loan Amount and Past Payments & fees by the guidelines of HAMP. Also my income and contributions from others has greatly increased.
|
| 02/09/2022 |
Yes |
|
- Trouble during payment process
|
|
Web |
|
|
The mortgage company PennyMac suddenly increased my mortgage payment by {$22.00} month in XX/XX/XXXX. Without any explanation. On or about XX/XX/XXXX, my monthly mortgage payment increased to {$640.00} with no justifiable reason or explanation. For the past 24 months, I have made additional Principle Only monthly payments in the amount of $ XXXX {$310.00} each month. My monthly mortgage payment should not have increased. This company is gauging customers for additional money. I have requested that my account be reviewed, corrected and my normal payments show as paid in full. Please contact me at the above address regarding this matter.
|
| 02/13/2021 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
|
|
My mortgage was purchased by PennyMac. After buying my mortgage, they sent a letter threatening to buy force-placed homeowner 's insurance given that my coverage was not enough under the terms of my mortgage/deed of trust. They did not provide any evidence to support this claim - I met all requirements from my original lender and PennyMac bought my mortgage from that lender within a month of me receiving that loan. PennyMac is making it exceedingly difficult to talk to someone about this. They have no email where I can contact them, only a fax. The phone number they provide has a recording that makes it impossible to talk to someone.
|
| 09/19/2020 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
|
|
I have never missed or been late on the mortgage payment of any type in my 30 years of paying mortgages to various mortgage companies I recently refinanced my home through XXXX XXXX in XXXX Florida and he used Penny Mac and that's when the trouble begins they're climbing they're not receiving my checks they're charging me late fees they're sending me nasty letters and it just goes on and on I need help This began probably in XX/XX/2020 and is still continuing today I have two sets of nasty letters one dated XX/XX/XXXX XXXX dated XX/XX/XXXX and they're the exact same letter they don't even know what they're sending out it's a big joke
|
| 09/13/2016 |
Yes |
- Mortgage
- Conventional fixed mortgage
|
- Loan servicing, payments, escrow account
|
|
Web |
|
|
I am a victim of predatory lending. I had an appraisal performed on my home and found that I fall within the XXXX LTV range which qualifies me to get my mortgage insurance ( MI ) dropped. If I refinance I will get the MI dropped but that will cost me about XXXX in closing cost.
When I call my servicer Pennymac to conduct an appraisal they tell me LTV must be at 75 % for them to consider removing my MI because of FHA guidelines even though I no longer have a FHA loan. Pennymac had me call FHA and FHA told me I no longer have an FHA loan. Of course I called back and they said it somewhere in my disclosure that they have to look for.
|
| 09/29/2022 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
|
- Problem with a credit reporting company's investigation into an existing problem
- Investigation took more than 30 days
|
|
Web |
|
|
Hello my name is XXXX XXXX and I have been reaching out to all three credit bureau 's via mail trying to resolve this debilitating issue for the past 7 months to no available. I have been disputing this/these accounts with The credit reporting agencies who are inaccurately reporting information on my consumer report without my consent. They are in violation of 15 USC 1681 e ( b ) where I am supposed to be promised accuracy in my report based on federal law. The companies have not been responding which is extremely frustrating and at this point Im not sure what else to do.
I wrote to them on the following dates : XX/XX/ XXXX XXXX
|
| 10/31/2018 |
Yes |
|
- Struggling to pay mortgage
|
|
Web |
|
|
I contact XXXX to help counselor me with process and they forwarded it to Penny Mac. I followed up with Penny MAC on Monday was told they have paperwork for XXXX was put on hold briefly a different pert came on call I was then told they I need to follow there instructions and they was accepting paperwork for XXXX that I need to do it directly. Im having problem with payment because I have been sick for several months and cant make payment. Before this made it to this point I reached out to Penny MAC for help they say I was current and they couldnt help but I was telling them I been ill for awhile but still had cash to make payment
|
| 01/25/2016 |
Yes |
- Mortgage
- Conventional fixed mortgage
|
- Loan servicing, payments, escrow account
|
|
Web |
|
|
I have auto payment set up with my credit union to pay my mortgage loan service company. I saw online at the credit union website that an attempt failed on the mortgage payment but it looked like enough funds were in place for the payment. I called the mortgage company and they reported the payment was cleared so I thought the check cleared. If they would have reported a returned check I would have paid on the phone on the XXXX of the month. Meanwhile payment is considered late on the XXXX of the month. Later I saw the check was returned but by this time I was past the grace period and had to pay a late fee and returned check fee.
|
| 09/25/2022 |
Yes |
|
- Struggling to pay mortgage
|
|
Web |
|
|
We applied for forbearance during The pandemic and now Im trying to get a loan modification. I was sent a letter last week saying that I was declined due to that I didnt have paperwork showing hardship and that the house will be foreclosed on XX/XX/22. I have not received any formal letter from the mortgage company, I was verbally told over the phone. I thought with the Cares Act they could not use the forbearance total to foreclose on your house. I was not given any other options but a modification loan. I have equity in the house that will cover the {$27000.00} that Im behind in. I have made the last 4 month mortgage payments.
|
| 11/24/2020 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
|
|
I had requested forbearance in XX/XX/2020 and was approved through XXXX ( Loan servicer ). Per the forbearance, I did not have to pay XX/XX/2020 and XX/XX/2020. However, I continued to make payments through the forbearance. In XX/XX/2020, the loan was paid off as I refinanced with another lender. The payoff added the {$1900.00} that was supposed to be the amount I owed had I not made the payments through forbearance to the payoff quote. They double charged me and after several calls and countless hours of phone conversation, they were not able to help me.
Please let me know if you need more information and I am glad to provide.
|
| 07/05/2018 |
Yes |
|
- Incorrect information on your report
- Account status incorrect
|
|
Web |
|
|
During the time of misfortune I managed to get behind on my mortgage from XX/XX/XXXX-XX/XX/XXXX. My loan is with XXXX XXXX XXXX.
I was told by a rep by phone in XX/XX/XXXX that we could get up to 6 months removed for our credit that was reporting 30 days late during this time when or at the time we could cath our loan up to date.
We managed to this and now they are saying that is nothing they can do and not sure why a rep for them said this and there is nothing they can do. If I knew this it would of helped manage and prepare for this time. We are in the process and selling and maybe buying again and this is holding us back.
|
| 08/07/2015 |
Yes |
|
- Loan servicing, payments, escrow account
|
|
Web |
|
|
Is there a past due balance?
If so, why?
Is this account current and in good standing according to PennyMac?
I see the principal balance did not change from XXXX XXXX XXXX 's XXXX 2015 principal balance from XXXX 's Principal Balance even though XXXX 's payment was posted.
XXXX 's ( XXXX XXXX XXXX 's XXXX Principal Balance XXXXPennyMacs XXXX Principal Balance : XXXX 2015 yearly escrow need funding?
2015 Yearly TAX Escrow : {$740.00} a year. {$370.00} X XXXX XXXX XXXX XXXX : {$1200.00} Yearly escrow for home insurance and taxes : $ XXXX so ... .. how much do I pay towards escrow and how do I pay?
Thank You, XXXX XXXX
|
| 02/13/2019 |
Yes |
|
- Trouble during payment process
|
|
Web |
Servicemember |
|
PennyMac mortgage company sent me a transfer letter saying that I would have a new mortgage servicer and that they would no longer process my payments at did the XXXX of XX/XX/2019. So I sent a payment to my new servicer but PennyMac still went into my account and took another payment and says they have no report of it. Even though they talk to the bank to prove that they took the payment out they still say they have no record of the payment being taken out. My account number with the mortgage companies XXXX XXXX. I have forwarded copies well my bank transaction a copy of the money order I sent to XXXX the new service center
|
| 12/08/2022 |
Yes |
- Mortgage
- Other type of mortgage
|
- Trouble during payment process
|
|
Web |
|
|
XXXX ( XXXX ) sent Pennymac a reinstatement and monthly mortgage via electronic deposit on XX/XX/XXXX. Pennymac claims they have not received a payment. Pennymac keeps hanging up on me and will not give us an answer as to where the money is just claiming they didn't receive it yet they did. Meanwhile our mortgage is late when they have the fund but have not applied them.Loan - # XXXX pennymac number XXXX.
Additional payment will be sent for five months at monthly intervals. If the money was sent electronically..they have it and are deliberately living and holding the money maybe for interest... meanwhile our loan is late.
|
| 10/19/2021 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
|
|
Received a bill from Penny Mac with a {$15.00} fee attached to it. Tried to call on XXXX2021 and held for 14 minutes. No one came to the phone. Sent a secure message from the website on XXXX2021 at XXXX XXXX with a print out showing I have been 15 days earlier than the due date on each payment and asking why this fee has been charged. Still no response. Tried calling back today at XXXX and held for 15 minutes with no customer service agent coming to the phone. Looking for an answer. No payment has been past the due date. Not even a day. Communication is poor. Sorry I have to go to this measure to get a question answered...
|
| 03/26/2020 |
Yes |
|
- Problem with a credit reporting company's investigation into an existing problem
- Their investigation did not fix an error on your report
|
|
Web |
|
|
I went through a nasty divorce that finalized in XX/XX/XXXX. I had to file Chapter XXXX Bankruptcy die to the divorce. It was discharged in XX/XX/XXXX.
However, on my credit reports it shows the PennyMac Mortgage as CLOSED and INCLUDED within the BK.
This mortgage WAS NOT included in the BK and I still live in the home and have never missed a payment.
I need this to report as such to improve my overall FICO score.
PennyMac, for whatever reason, REFUSES to report my on-time Payments to ANY of the Credit Bureaus.
I can not understand why they will not just report this info like they have for years?
Please help me!
|
| 12/14/2023 |
Yes |
- Debt collection
- Mortgage debt
|
- Took or threatened to take negative or legal action
- Seized or attempted to seize your property
|
|
Web |
Servicemember |
|
XXXX XXXX, IS A LAW FIRM THAT CLAIMS TO REPRESENT PENNYMAC LOAN SERVICES , LLC . 1. THEY ARE A 3RD PARTY DEBT COLLECTOR WHOM I HAVE NEVER HAD A CONTRACTUAL AGREEMENT OR OBILIGATION NOR DO THEY HAVE AUTHORITY TO OPERATE IN THIS MANNER WITH NO PERMISSABLE PURPOSE. THIS VIOLATES MY CONSUMERS RIGHTS ON DEBT COLLECTION PRACTICES PER THE FDCPA. ALONG WITH HARRASSMENT, THEY REPEATEDLY HAVE SENT MORE THAN 12 THREATENING NOTICES VIOLATING ( 15 USC 1692 ) STATING THEY WILL FORECLOSE ON MY PROPERTY AND VIOLATING PUBLIC LAW 73-10 HJR 1933 IS STILL ENFORCED TO DATE AS IT PERTAINS TO THE UNITED STATES OF AMEREICAN and its Citizens. AS
|
| 09/29/2015 |
Yes |
- Mortgage
- Conventional adjustable mortgage (ARM)
|
- Loan modification,collection,foreclosure
|
|
Web |
|
|
i have submitted my loan modification request with my penny mac loan servicing and there processing it, i was informed by penny mac that it looks like there is a possibility that i could be approved for some type of loan modification, but i need to give them or pay them XXXX % of back payments that were due in order to get a loan modification, not sure if this correct or not but i did n't think i would have to pay to get a loan modification, from the bank that has already received federal funding, i have the means to pay a modified payment but not large amount of savings to pay for a modification in order to stay in home
|
| 10/22/2015 |
Yes |
- Mortgage
- Conventional adjustable mortgage (ARM)
|
- Loan modification,collection,foreclosure
|
|
Web |
|
|
Currently I am a New Jersey home owner facing difficulty involving my mortgage company in obtaining a loan modification. This all started in 2011 when the present mortgage company purchased my loan. After continuous failure to achieve this goal and contacting various credit counseling agencies for assistance they continuously keep dragging their feet and finding loop holes. The latest issue is having their appraisal company perform an appraisal on my property, whose composites where more than half a mile or better away and valued at less than half of another reputable realty company with composites in my immediate area.
|
| 02/07/2023 |
Yes |
|
- Trouble during payment process
|
|
Web |
|
|
For the past 3 years I have had lender based insurance placed on my home over a few days of lapse each year due to issues with my insurance company and a yearly fee that is not auto drafted from my account. Never more than 10 days. They have proof of my reinstatement, proof of insurance in their record and have place and charged me for full year policies over these few days of lapse and are refusing to refund the policy placed by them. I have spent some over XXXX hours on the phones with them. No one will help its constant back and department to department. Everyone saying its not their department. What are my options?
|
| 02/08/2016 |
Yes |
|
- Loan servicing, payments, escrow account
|
|
Web |
|
|
My loan is through PennyMac. I pay it at the end of the month - that is when I have money to pay it. I have always paid it at that time. I have had multiple conversations where they acknowledge the request and that I am less than 30 days past the expected pay date. They keep calling me during the day, at work, during the month about that payment. They say the only way that I can get them to stop calling me at work, while I am working, on the only phone I possess ( a cell phone ) is to file a " cease and desist '' letter.
I have to pay a lawyer to get them to not call me at work, during the day. That is unacceptaable.
|
| 01/31/2018 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
|
|
I received a letter from Penny Mac stating the escrow would be sent to me in XX/XX/XXXXfor payment to local County to apply in XXXX. I never received the funds. I have called and repeatedly asked about the funds and been told it was sent to XXXX County, It was sent to me, and that it would be sent XX/XX/XXXX, overnight, with me receiving it onXX/XX/XXXX. I have received nothing.
I called again yesterday, XX/XX/XXXX, and have yet to receive a call back from Penny Mac as to the status of the funds. The due date for the taxes in today, XX/XX/XXXX. I have already missed theXX/XX/XXXX tax season to pay the taxes in XXXX.
|
| 01/09/2023 |
Yes |
|
- Struggling to pay mortgage
|
|
Web |
|
|
Mother passed away XXXX, my father informed us that he sold the home when in fact he rented the house out and the mortgage was being paid directly to the mortgage company until the person renting the home passed away unbeknownst to my father, Father relocated and didn't receive any of the mailing regarding the home. We were unaware the home was going into foreclosure until late XXXX, when it was discovered, the home was not sold, and the tenant expired XXXX. My father can not afford the mortgage as he is living on SSI. We are doing everything possible to pull the home from foreclosure and Sheriff sale to get it sold.
|
| 03/23/2015 |
Yes |
|
- Loan modification,collection,foreclosure
|
|
Web |
|
|
PennyMac Loan Services is saying they are unable to provide home mortgage assistance due to a temporary financial hardship. We have been going back and forth with the company for XXXX months providing all the documentation we can and they now say that due to a job loss ( that was present at the time of initial application ) they are unable to provide any mitigation ( no loan modification, no temporary forbearance ). It is my understanding that those types of plans are meant to assist homeowners in keeping their home during a financial hardship. PennyMac Loan Services does not seem to provide these types of services.
|
| 08/03/2022 |
Yes |
|
- Trouble during payment process
|
|
Web |
Servicemember |
|
I have contacted PennyMac at XXXX am PT on XX/XX/XXXX and spoke with XXXX ( she refused to provide her last name or employee # ) inquiring about the full information of escrow account from XXXX.
During the conversation, I realized that there was a discrepancy in the escrow payment information, I requested her to provide the most updated escrow information and mail to me.
She said that I have no right to ask that service. She suggested me to go on their website and retrieve it from it.
I had already checked before calling PennyMac - Their website doesn't provide the full history of escrow account information.
|
| 11/17/2020 |
Yes |
|
- Incorrect information on your report
- Account status incorrect
|
|
Web |
Servicemember |
|
Pennymac is currently reporting my mortgage account as past due over 120 days.
Prior, I was in their forbearance program until XX/XX/2020 when I went into their modification program. I have been making payments outlined in Pennymac 's agreement and have not been late to date.
Under the CARES ACT and CFPB instruction/interpretation of the CARES ACT, Pennymac is in direct violation of the credit reporting guidelines by reporting my current status as delinquent and late.
I have addressed this issue with the company. Past reporting was fixed to reflect Covid relief, but current status is not accurate under the law.
|
| 12/24/2022 |
Yes |
|
- Trouble during payment process
|
|
Web |
Older American, Servicemember |
|
The mortgage company will not knowledge my payments and keep charging me late payment. They have XXXX dollars of my money that was suppose to go in my escrow account. They telling me I need to send them A bank statement showing them the payment. How can their records not show that. This problem started in XX/XX/2022. They have very shady records. In XXXX they charge me three times late charges. I gave them XXXX dollars in XXXX and told them to put the money into my escrow account. They fail to do it. All this started about A escrow account. Which I was paying my home insurance out my own pocket. until XXXX 2022.
|
| 05/07/2020 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
|
- Incorrect information on your report
- Account status incorrect
|
|
Web |
|
|
I have a real estate mortgage loan from PENNYMAC LOAN SERVICES, and I have always made my payments on time. For some reason, I realized that there was a late payment on my credit report, I called PENNYMAC LOAN SERVICES and they said their system mistakenly put me on paperless billing, which I did not request, and it caused my 30 day late. As you can see, I have always had a stellar payment record. I tried contacting XXXX, XXXX, XXXX, and PENNYMAC LOAN SERVICES with no successful resolution. XXXX, XXXX, and XXXX reporting me 30 days late in XX/XX/2019. There was an error on their part. I was never 30 days late.
|
| 11/04/2017 |
Yes |
|
- Applying for a mortgage or refinancing an existing mortgage
|
|
Web |
Servicemember |
|
After receiving our loan estimate from XXXXXXXX XXXX XXXX and locking in our mortgage rate. The loan processor failed to disclose why the loan estimate for cash to close differed from the final notary closing documents cash to close. We were emailed three different funds to close letters all with contradicting numbers and dates. The evident difference was the interest estimate. We were charged one number shown in the loan estimate and an additional amount in the cash to close documents. After speaking with the loan officer we learned this was padding to protect the bank in case they underestimated their numbers.
|
| 12/27/2015 |
Yes |
|
- Loan servicing, payments, escrow account
|
|
Web |
Servicemember |
|
My mortgage was recently sold to PennyMac. PennyMac 's website does not interface well ( if at all ) with the Safari web browser resident on my iMac. There are XXXX Mac users and I am not the only customer with this problem. PennyMac acknowledges the issue, but it prevents me from making extra payments or finding out important info regarding amortization, etc. PennyMac has known about the problem since XXXX 2015 and " hopes to do something about it over the next year. '' If a company can not service the loan of a perfectly happy customer with their original lender, then what recourse does the customer have?
|
| 08/28/2023 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
- Escrow, taxes, or insurance
|
|
Web |
|
|
Lender/forced placed insurance was bought on my behalf without my consent. Furthermore its impossible to speak with someone in the insurance department ; I keep getting off-shore call centers. Horrible costumer service. Impossible to get through the answering machine. I am beyond frustrated, I dont know what to do. PENNYMAC was not my original lender, they bought my mortgage from another servicer. Ive been through XXXX with this company since they bought my loan from the previous servicer.
Can someone please call me to further explain my name is XXXX XXXX XXXX my phone number is ( XXXX ) XXXX. Thank you.
|
| 10/18/2017 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
|
|
fourclosed on by PennyMac XXXX XXXX XXXX affordable mortgage mod. trail end XXXX XXXX approved for mortgage modifacation signed doc XXXX have made all payments PennyMac says modifaction, has not been excepted you are in fourcloser XXXX We have made our payments as per modifacation Asked where are the payment going?
We are told to pay for fourcloser.
We told them, the fourcloser was dismissed.
PennyMac says no it was not. XXXX We have never recieved accuarate numbers from PennyMac We have been over charged, by inspection fee The inspector tells my nieghbors we are in fourcloser Mortgage sold again XXXX
|
| 03/26/2021 |
Yes |
|
- Struggling to pay mortgage
|
|
Web |
|
|
To whom it may concern : I have been trying to work with my mortgage to get a loan modification but after speaking with XXXX from the underwriting team she advised I did not qualify for a modification because my hardship started in XX/XX/2020 and not XX/XX/2020. Why does she get to decide when a customer happens to lose his home. Just because my hardship didn't start in XXXX does not mean I was not affected by this pandemic. I lost my part time job and I am on fixed income now. She needs a reality check that people are still loosing jobs months after because business and people are still being affected.
|
| 11/09/2020 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
|
|
Company called on XX/XX/20 to advise that account was showing 2 months behind on payments but nearly a full payment was in the " suspense '' account, if we were to send a full payment plus {$30.00} this month that would catch up the account. Advised company that one of our hours had been cut severely due to COVID 19 and we are working to make the payment but it may be a little late XXXX or XXXX this month.
Company advised that was fine and " no worries, we will just notate the account with the payment arrangements. '' Company filed a 30-day late report with all 3 credit bureaus the following day XXXX.
|
| 10/27/2019 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
Older American |
|
Everything concerning my account has been corrected with the exception of a {$65.00} late fee for which I am still being billed as of my payment due XX/XX/XXXX. This late fee was caused by PennyMac 's misapplication of my XX/XX/XXXX payment made in the amount of {$1600.00} to principal in the amount of {$850.00} and to escrow in the amount of {$780.00} instead of applying it to the regular payment due in the amount of {$1600.00}.
However, PennyMac has since corrected this misapplication but has neglected to delete the late fee that was erroneously charged. It is requested that this late fee be deleted.
|
| 06/20/2019 |
Yes |
|
- Trouble during payment process
|
|
Web |
|
|
every year, i call and get the ecrow analysis revised because of errors such as added default reserve to escrow etc. I am monitoring, tracking and reporting since 2014.
since last year PENNYMAC LOAN SERVICES, LLC moved the escrow analysis date and forced me to pay additional amount in their every year increase in the month of XXXX and onwards.
i have to be pro-active to make sure 1. i request escrow analysis 2. PENNYMAC LOAN SERVICES, LLC do not send hard copy of escrow analysis even after i repeatedly requested this year.
3. i have to find errors and request every year to revise the escrow analysis.
|
| 12/19/2016 |
Yes |
- Mortgage
- Conventional fixed mortgage
|
- Loan servicing, payments, escrow account
|
|
Web |
|
|
As of know PennyMac has not send the payment for my property tax. I keep calling the Bank to inquiry about the payment and nothing has been done to resolve the problem. They claimed that they did a wire transfer on XXXX XXXX, 2016 for the amount of {$2300.00} but when I called XXXX XXXX County to check on my account they told me that they have not received any payment. I do n't want to be held responsible of the late payment. If the bank sent the payment late they should be responsible of the late charges. Also, I need to know where is the payment and the date they send the payment? Please investigate.
|
| 10/14/2022 |
Yes |
|
- Trouble during payment process
|
|
Web |
|
|
I filed XXXX XXXX on XX/XX/2022, and PennyMac Mortgage reported that I am in the arrears on my mortgage. I am not and was never in the arrears. I reported this issue already and am submitting more documentation that was received from PennyMac 's lawyers.
Also, I confirmed via telephone today with PennyMac 's customer service representative that my account is current with no arrears due. Therefore, PennyMac is attempting to collect money in arrears from me that is not legally owed.
Also, PennyMac is refusing to correct the XXXX XXXX XXXX removing the incorrect arrears. I owe no arrears to PennyMac.
|
| 07/14/2019 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Applying for a mortgage or refinancing an existing mortgage
|
|
Web |
Servicemember |
|
XX/XX/2016 someone proclaiming to be an attorney representing a firm XXXX XXXX with assisting me with a modification of of mortgage loan with Pennymac mortgage company. Charged me a monthly fee of {$800.00} for 2yrs then sold my mortgage to XXXX XXXX XXXX. Which during all this time my mortgage became chronically delinquent. Forced me into foreclosure. Now i have no home and the wrote me letter stating that they could no longer assist me and that I need to work my mortgage servicer on my own. I requiring restitution of my funds from company i sighned a contract, or the person representing the company,
|
| 03/01/2018 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Struggling to pay mortgage
|
|
Web |
|
|
i phoned the lender and tried to get them to postpone the foreclosure sale since i have just received an offer on the property and the buyer is very serious about purchasing the property. I have fallen on hard times and i was unable to pay my mortgage and when i went to my lender to see if they could assist me with the other alternatives, they were not really invested in assisting me. I feel as if they have been unreasonable and unavailable while i am going through this tough time. I need help and i am hoping that you are available to assist me. the lender continues to ask me about a retention option.
|
| 11/16/2022 |
Yes |
- Mortgage
- Other type of mortgage
|
- Applying for a mortgage or refinancing an existing mortgage
|
|
Web |
|
|
We have been filing for a XXXX XXXX assumption with PennyMac since XXXX of 2022.
This has been a very frustrating transaction for both the buyer and the seller who are veterans and just want this loan to close.
The mortgage officers in the assumption Department have completely disappeared on us numerous times, they have also repeatedly asked for the same documents over and over and then when we submit them they just disappeared on us again. No response to are phone calls or emails. We have reached out to management and filed several complaints. We are always promised to get a response but never do.
|
| 10/28/2019 |
Yes |
|
- Struggling to pay mortgage
|
|
Web |
|
|
My mortgage has went up almost {$250.00} over 3-4 months.
My property taxes has decreased due to a {$50000.00} exemption but my payments are still going up every 2 months. They have A, B options That are being offered to me which I've never heard of. I've never authorized/chosen any of them but they add them anyway. Its increasing my mortgage payment from {$1500.00} in XXXX to {$1700.00} XXXX. They're excuse is " my escrow acct '' and taxes increasing..However my taxes has decrease. I'm not getting anywhere with these ppl.. My mortgage is becoming unaffordable due to their compounding. Please help
|
| 04/24/2018 |
Yes |
- Money transfer, virtual currency, or money service
- Mobile or digital wallet
|
|
|
Web |
Servicemember |
|
My father and mother are both died .my mom passed away XX/XX/XXXX and my father XX/XX/XXXX. They never asked for help, and I'm not a student.they where both gone.someone is acting as if they are my mom and dad.even at my father 's work place.succussers and assignings are the ones that are taking out lease or loan under my dad 's house.my father paid off the house Wright before he'd passed away.these people took a loan out under my father 's estate.i don't have the money to pay off this new loan.so know they are trying to take my father 's estate away from me.im my father 's executer of his estate.
|
| 03/19/2022 |
Yes |
|
- Trouble during payment process
|
|
Web |
|
|
Ive been trying to contact pennymac to make a payment. I was on a XXXX forbearance and currently trying to become current. I can never get a hold of them. My assigned agent is always busy and there is no call center. I dont know where I stand as I get nasty grams from them and then get happy grams. I have the money to pay. The website is useless. Im at a loss. Id I dont do anything then im screwed. Id I try Im screwed. I need help for them to respond. Everything is automated. Ive worked for a bank and they are not closed. Please help. I want my home. I cant let something like XXXX kill my dreams.
|
| 03/24/2017 |
Yes |
|
- Loan modification,collection,foreclosure
|
|
Web |
Servicemember |
|
My husband and I have submitted two prior complaints regarding our Deed in Lieu with PennyMac. We started the deed in Lieu process on XXXX XXXX, XXXX. We were assured after the first complaint that the process would be completed by end of XXXX XXXX, we then were told after the second complaint it would be completed by end of XXXX XXXX, we are now at the end of XXXX XXXX, and even though the deed in lieu was recorded with the county on XXXX XXXX, XXXX, our case has still not been closed. We are still waiting, and have yet to have a satisfactory resolution from PennyMac regarding our Deed in Lieu.
|
| 06/28/2021 |
Yes |
- Debt collection
- Mortgage debt
|
- Written notification about debt
- Didn't receive notice of right to dispute
|
|
Web |
|
|
Today, XX/XX/XXXX, was just notified that my automated payments for one of three houses we have loans through with PennyMac had not processed. Woman said they had called and emailed and sent letters, none of which were received. No attempt was made to contact or dispute the issue. Automated payment is made through their website, no contact was made that the amount had changed. I receive 10 spam calls a week on refinancing and new loans, nothing on my actual loan.
payment was made within the hour. Called to confirm it was pending, will call tomorrow, XX/XX/XXXX to confirm payment went through.
|
| 07/16/2020 |
Yes |
- Mortgage
- Other type of mortgage
|
- Trouble during payment process
|
|
Web |
|
|
I received an email saying I owed them {$2200.00} in escrow or else they would raise my mortgage payment. I reached out to a couple of loan providers and was told that this is incorrect they paid my insurance 2 months earlier than they did last year and this is why it is showing such a high amount. When I questioned the company they basically told me it didnt matter and this is what I owed no matter what. I have talked to them three times regarding this and have gotten no where except rude employees who are not interested in helping me and honestly dont seem to know what they are talking about.
|
| 07/31/2016 |
Yes |
|
- Loan servicing, payments, escrow account
|
|
Web |
|
|
I contacted Penny Mac Loan services on XX/XX/2016 during their normal business hours to make a payment. Made my payment over the telephone for {$1700.00} but it was not showing up on my account online account as pending when I logged on today.. I made another payment today to avoid any late credit reporting.I 'm disputing any late credit reporting as I made two payment in a month time. I attempted to put today 's date of XX/XX/2016 said payment would be posted XX/XX/2016. Disputing any late credit reporting as I made a telephone payment on Saturday, XX/XX/2016. I want this issue investigated.
|
| 05/16/2017 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
|
- Problem with a credit reporting company's investigation into an existing problem
- Their investigation did not fix an error on your report
|
|
Web |
|
|
I tried to modify my loan in late 2015 through XXXX XXXX , I was put on a payment trial plan, once I received all the paperwork I decided it was better not to modify the loan because of the dollar amount to invest. XXXX XXXX then since late 2015 has reported XXXX late payments both 30 days late. I have never paid my mortgage more than 30 days late, I did all trial payments on time, I have contacted XXXX XXXX regarding their error and they do not correct the problem, I have also disputed the account with all XXXX CRA but XXXX XXXX continues not fixing their error.
|
| 08/26/2015 |
Yes |
- Mortgage
- Conventional fixed mortgage
|
- Loan modification,collection,foreclosure
|
|
Web |
|
|
I applied for a modification with PennyMac and I was told that I do not qualify because my loan is traditional and is not secure by XXXX or XXXX XXXX. Therefore, I hired an attorney and I was still given the run around with an attorney. I went to a XXXX home saving cnovention and PennyMac still gave me the run around : as a result, I called PennyMac and I was told to submitted the modification information therefore I did by fax and through PennyMac 's Attorney and I was told that they did not get all of the information therefore they rejected my modification and now my own is in foreclosure.
|
| 03/26/2023 |
Yes |
|
- Trouble during payment process
|
|
Web |
|
|
My servicer is charging ridiculous fees to my mortgage account when I have repeatedly told them I live in the house. They have sent a company to my house multiple times in the same month. I have made contact with the company and let them know I live in the house. Each time I speak to Pennymac I let them know I live in the house. They even tried to rekey my property while I am living in the house. This is illegal. This is theft by taking. I called Pennymac and they claim they are looking into the matter. All they did as a result of looking into it is increase my balance with their junk fees.
|
| 12/23/2016 |
Yes |
- Mortgage
- Conventional adjustable mortgage (ARM)
|
- Loan servicing, payments, escrow account
|
|
Web |
|
|
PennyMac has violated the terms of my home mortgage by charging additional interest, applying payments first to fees rather than interest and refusing to provide an accounting even after a written RESPA request. They have made promises to provide an accounting, but have n't after a year. They have lied to me about how my payments have been applied and made false XXXX statements. I have contacted them in writing, by phone and by email over 50 times over the last year and they refuse to account for how my payments were applied to my loan. There is an estimate {$68000.00} in payments missing.
|
| 05/05/2017 |
Yes |
|
- Trouble during payment process
|
|
Web |
Servicemember |
|
On or about X/XX/2016 , I calle d PennyMac Loan Service, r egarding my statement, it showed I had a Credit Balance, ( This was for XX/X/16 Pay ment ) After being on Hold fo r 15 minutes, she said NO on XX/XX/XXXX Payment and just mak e XX/X/16 p ayment. I said are you sure, she said YES. So I mad e XX/X/16 on time, NOW after 6 months I get a letter in the mail stating I am Delinquent. WHY? I have had XXXX loans with PennyMac, N EVER had any issues until now. I am on XXXX and I can not afford to make 2 p ayments, I only get {$1200.00} from XXXX .
|
| 01/16/2023 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
|
- Problem with a credit reporting company's investigation into an existing problem
- Their investigation did not fix an error on your report
|
|
Web |
|
|
This item is inaccurate because the CARES ACT provided protection to consumers who were affected during the COVID-19 Pandemic. The late payment with Penny Mac ( Acct # XXXX ) shows on my credit report XXXX XXXX XXXX The CARES Act provided consumers with protection as many of us were on very hard times. We soon after received Forbearance on our Mortgage and didn't receive approval until several months later.
I believe this adverse information has been incorrectly added on my credit report.
Please reinvestigate this matter and remove the negative payment history from my credit report.
|
| 08/03/2021 |
Yes |
|
- Trouble during payment process
|
|
Web |
Servicemember |
|
I hold a VA loan with Pennymac. I am XXXX and my house in the States, is now a rental property. My tenants lost their jobs due to COVID. I took advantage of the Forbearance program to cover those months. When I went back to regular payments, my mortgage balance went from {$180000.00} to {$190.00}, XXXX. Had I known I would owe an extra {$10000.00} at the end of the " benefit '', I would never had participated. This has caused a financial hardship. I am wondering if this could be covered under the Military Lending Act?
Loan Number : XXXX Property Address : XXXX XXXX XXXX, XXXX PA, XXXX
|
| 10/09/2023 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
- Escrow, taxes, or insurance
|
|
Web |
Servicemember |
|
I placed 10 calls to the mortgage company in the months of XXXX, XXXX, XXXX, and XXXX of XXXX. The mortgage company placed a forced placed policy upon our property for the period of XX/XX/XXXX to XX/XX/XXXX without notifying us. They didn't notify us they were going to do this until the policy period had ended. The policy was back dated and written on XX/XX/XXXX. I checked with my insurance company to get a policy for the period and no one is permitted to back date a policy. I believe this to be a predatory practice to collect a premium that is 4 times the rate of my homeowners policy.
|
| 07/09/2019 |
Yes |
|
- Struggling to pay mortgage
|
|
Web |
|
|
Pennymac mortagage is my current loan company for mortgage. They ran escrow analysis and as if XX/XX/2019 they are charging me for double insurance and there are 2200 in payments they are not including in my escrow account causing my mortgage payment to sky rocket from 1600 to 2200. I called several times and they told me a refund was pending, however, I called in XX/XX/2019 and no body helped including supervisors throwing me as responsible for payments that I made for insurance but that they are not putting into escrow. I'm being over charged and this is abusive collection practice.
|
| 04/19/2017 |
Yes |
- Mortgage
- Conventional adjustable mortgage (ARM)
|
- Loan modification,collection,foreclosure
|
|
Web |
Older American |
|
This issue has been with the CFPB many times ( numeral time ) and hopefully this time I 'm requesting a Federal Investigation do to the fact, th at PENNYMAC has submitted fraudulent documentation to the UNITED STATES BANKRUPTCY COURT XXXX DISTRICT OF FLORIDA, this it 's not only criminal offense, but it 's attempts to the defraud the UNITED STATES, UNITED STAT ES DEPT OF TRESAURY, HUD, OCC AND MANY ORDERS. IN addition under the STATE OF FLORIDA AND UNITED ST ATES AMERICAN BAR ASSOCIATION AND FLORIDA BA, , ITS A CLEAR VALIDATION OF FLORIDA RULE 4-3.3 CAN DOR TOWARD THE TRIBUNAL.
|
| 08/27/2021 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Struggling to pay mortgage
|
|
Web |
|
|
I asked Pennymac for a loan modification. They denied me and then sent me a letter stating that i needed to pay and additional XXXX dollars on top of the XXXX i already pay. They said if i dont agree, they will start the foreclosure process. I only take home XXXX a month. I have no idea where this is coming from. I sent them 2 pay stubs and 1 one them had a large commission amount on it, which i used to pay off all of my CCrds. I was in forbearance last year due to covid. They must think that the commission i received was part of my normal salary. i need help. I dont know what to do.
|
| 09/29/2015 |
Yes |
- Mortgage
- Conventional fixed mortgage
|
- Loan servicing, payments, escrow account
|
|
Web |
|
|
My lender claims that we are not carrying hazard insurance to cover our home. We have provided them with proof of insurance multiple times and have made multiple attempts to resolve this issue. Our insurance agent has attempted to resolve the issue as well. at this point they have refused to accept our policy and are charging us for a hazard policy provided by them at approximately XXXX times the cost of our existing policy. This issue has been dragging out for over three months. Every time that we contact this company, they tell us that it will be reviewed but nothing gets resolved.
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| 05/28/2019 |
Yes |
|
- Trouble during payment process
|
|
Web |
Servicemember |
|
PennyMac has continued to hold my insurance settlement hostage for my kitchen remodel after submitting multiple contracts to PennyMac and being told on XX/XX/2019 that everything was being " processed '' and waiting for PennyMac to reach out to the contractors to collect any information so that my kitchen can be completed. Their POC XXXX XXXX has habitually and maliciously ignored and lied and has made it a point to stall payout while profiting off stolen interest on consumer insurance settlements as numerous other consumers have formally complained on numerous complaint websites.
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| 01/11/2020 |
Yes |
|
- Problem with a credit reporting company's investigation into an existing problem
- Their investigation did not fix an error on your report
|
|
Web |
|
|
I've reached out to PENNYMAC LOAN SERVICES L and asked them to provide me with documents, and the procedure they took that proves and validates that I had ever been late on any of my payments. I have yet to receive any proof and I dispute the accuracy of the information that is being reported on my credit report.
Account Name PENNYMAC LOAN SERVICES L Account Number XXXX Account Type XXXX XXXX Date Opened XX/XX/XXXX Late : XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XXXX XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX XXXX
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| 06/27/2019 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Applying for a mortgage or refinancing an existing mortgage
|
|
Web |
Older American, Servicemember |
|
Storm damage to my home. Insurance company ( XXXX ) inspected and estimate for repairs approved. Every call to PennyMac there was another reason that a document wasnt correct. After getting what I thought was approval for documents, they then said they wanted contractors license ( does not exist in Texas ) and then a surety bond which is not available for residential repairs. Next they said W-9 had to be approved by IRS. After finally getting all those issues resolved and check deposited into escrow, was given a different reason every day for 4 days why check had not been issued.
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| 07/02/2023 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
|
|
REOPENING CLAIM XXXX I have received NOTHING IN WRITING from Pennymac despite promise to mail escrow documents and statement plus summary of the claim. The only information I have received is the attachment to the claim on the Consumer Finance website under my claim.
Pennymac is NOT doing what they promised. I have NEVER signed up for electronic documents. They keep sending me SPAM asking me to sign up for it, and I keep deleting without doing so.
What are my next steps? Do I have to refinance to get away from Pennymac 's failure to send me documentation as required by law?
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| 10/08/2020 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
|
|
I refinanced my mortgage and the full balance was paid off on XXXX/XXXX/20. So I would not be late on a payment for XXXX, ( XXXX is considered late ) I made a payment on XXXX/XXXX/20 for XXXX. The loan is completely paid off and I have a new mortgage with another company. I have no existing mortgage balance with Pennymac. Pennymac ( or it's parent company ) reported my fully-paid off loan as delinquent to XXXX and my credit score subsequently dropped 90 points. I'm filing a complaint because the information submitted by Pennymac is untrue and detrimental to my credit report.
|
| 12/30/2022 |
Yes |
|
|
|
Web |
Servicemember |
|
I looked at the closing disclosure and again I was told that the closing cost cash to close XXXX different than what I was told yesterday XXXX. The cash to close is well above what I can afford right now. I must admit that I am experiencing stressful situations with a simple loan that increase from small amounts to close to a amount that empty my bank account. Loan was originally estimated XXXX now XXXX.
Closing should not very by several thousands dollars. I feel that the financial burden that is now being asked is well beyond my budget.
Please advise on the next steps.
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| 06/08/2018 |
Yes |
|
- Struggling to pay mortgage
|
|
Web |
|
|
I submitted to PennyMac the note with my original signature and notarized on XX/XX/XXXX. They responded on XX/XX/XXXX stating they would conduct a full review of my loan. Then on XX/XX/XXXX letters were sent which will be attached requesting them information on my loan. Which were notarized and sent certified mail. On XX/XX/XXXX they responded stating thank you for requesting a reinstatement quote. Then on XX/XX/XXXX I received a letter that they were currently conducting a full review of my loan. Then no response and then found out they have filed foreclosure on XX/XX/XXXX.
|
| 02/02/2023 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
|
- Improper use of your report
- Reporting company used your report improperly
|
|
Web |
|
|
I sent a Letter ( his second hand letterdelete inside brackets ) on XX/XX/2022, here is my Certified Mail or Tracking Number XXXX XXXX XXXX XXXX to remove personal information that I do not want on my credit report. According to the Fair Credit Reporting act 15 USC 1681 I have the right to privacy. Also according to 15 USC 6802 No financial institution is suppose to share my information to third party people, much of this information was also mistaken, fraudulent or perhaps even possible identity theft.
These are clear violations of my federally protected consumer rights.
|
| 11/05/2020 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
|
- Credit monitoring or identity theft protection services
- Billing dispute for services
|
|
Web |
Older American |
|
I missed my house pymt by accident. Its the first time in my XXXX years Ive ever missed a pymt. When I contacted Penny Mac to let them know I made a mistake in missing the pymt and wanted to take care of it. I paid both XXXX and XXXX pymts and had told them I have never missed paying my house payments. PennyMac reported it to the Credit card bureau that I missed a pymt. No one at PennyMac would talk to me about why they sent it. I have worked very hard to get my rating up to were it was before PennyMac ruined my credit score. I want my score reinstated back to wear it was.
|
| 03/05/2019 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
|
- Incorrect information on your report
- Account status incorrect
|
|
Web |
|
|
On XX/XX/2018 I made my mortgage payment ( I enclose a copy of the picture taken to the screen of the computer that shows the payment was made ).
PennyMac did not accepted the payment and the money was not taken from the paying istitution.
I called to investigate what was the problem. The lender told me that my bank had denied the payment, WRONG! ( I enclose copy of the bank statement that shows we had enogh funds ).
I called my lender to request them to remove the report of delayed payment. They have not done it, and this is affecting my financial and personal matters.
|
| 11/25/2016 |
Yes |
- Other financial service
- Refund anticipation check
|
|
|
Web |
Older American |
|
on XX/XX/2016, the sprinkler system in my house failed and cause damage. All state did the evaluation and send a XXXX party check of XXXX named the Bank ( PennyMac Loan Services , LLC ) and homeowner ( me ) has the payee. The agent for the bank instructed me to endorse the check and send them. They will deposit the check and release the funds as the work progress in installment. I did as per their instructions. Made several Phone calls nothing happened. Today is XX/XX/XXXX.
Now they are telling since we are in bankruptcy/ litigation. We are not going to release the funds.
|
| 06/24/2015 |
Yes |
- Mortgage
- Conventional fixed mortgage
|
- Loan servicing, payments, escrow account
|
|
Web |
|
|
Upon selling my home XXXX PennyMac failed to refund my entire escrow account. Despite a letter from PennyMac stating they have {$240.00} for me all I need to do is tell PennyMac I want the money and they will send it they continue to hold the money. I emailed the documentation they requested to advise them I wanted the money and I have also called PennyMac twice yet PennyMac continues to provide excuses about why I have n't received my money. I have provided my current address on XXXX occasions yet PennyMac can not seem to update their system to reflect the proper address.
|
| 05/25/2021 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
|
|
I received a letter dated XX/XX/2021 indicating I had a new single point of contact with the person 's name and phone number, but the number is the general number for the company, not the person 's extention. There was a second number to use to " escalate an issue '' but that person never answers the extention.
It feels like the letter was sent because it had to be sent, but the firm ( PennyMac ) really was just giving lip service to the requirement. The letter was at best confusing and at worst deceptive. My call about the issue was shuttled around with no real answer.
|
| 07/16/2020 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
|
|
My Mortgage was transferred to PennyMac.The previous mortgage company didn't require HO-6 insurance, but PennyMac does. After notification from PennyMac, I purchased the HO-6 insurance starting XX/XX/2020. However PennyMac further requested insurance evidence between XX/XX/2020 and XX/XX/2020 and enforced a {$160.00} insurance premium on me. The process is unfair given the fact PennyMac didn't inform me to purchase home insurance before finalizing mortgage transfer. During all communication PennyMac didn't inform me the proper duration and starting date insurance either.
|
| 11/07/2023 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Struggling to pay mortgage
- An existing modification, forbearance plan, short sale, or other loss mitigation relief
|
|
Web |
Servicemember |
|
I applied for forbearance and was approved on XX/XX/2023, until XX/XX/2023. I haven't logged into my account since I applied for forbearance until today. When I checked my messages, I found a letter stating that I requested to cancel my forbearance plan on XX/XX/2023. I never requested to cancel it, as I had just applied for it and was approved. It's perplexing that it shows I requested cancellation when I haven't spoken with PennyMac since before my initial request, and I hadn't logged in during that time. How was my account accessed, and why was my request canceled?
|
| 07/02/2020 |
Yes |
|
- Trouble during payment process
|
|
Web |
Servicemember |
|
I recently did a refi with my lender PennyMac at the beginning on XXXX. My FIRST payment is not slated to actually occur XXXX.
However, I made my first prepayment on XXXX against my mortgage of {$190000.00} for {$1100.00}, and was applied toward the escrow ( {$650.00} ) and principal ( {$470.00} ). I did indicate as such on my payment coupon.
I have been going back and forth with them via numerous calls and direct email on their sit to get this fixed as the took {$460.00} and applied it to interest. They are not being helpful and that is alot of money misplaced
|
| 02/06/2020 |
Yes |
|
- Trouble during payment process
|
|
Web |
|
|
in XXXX I had a loss in the home- a check from my insurance company was issue to me and mortgagee. I sent check to mortgagee for them to release funds. since XX/XX/2019 I been trying for them to release funds. I pay already a contractor and still no money has been sent out. If is not one thing is another. I paid out of pocket thinking I was getting the funds right away now I am struggling to pay the home to avoid foreclosure. Loss draft dept has all documentation inspections and still no payment out.
The property is 70 % fix and still no payment for them to issue.
|
| 08/23/2016 |
Yes |
|
- Loan servicing, payments, escrow account
|
|
Web |
|
|
For the past XXXX years since PennyMac became our servicer they have tried to impose a " cushion '' when they send their escrow analysis. After computing the amount I needed to have escrowed each month, the cushion is n't necessary. They claim that this practice is in accordance with state and federal law ; which I find dubious. When I called to dispute their analysis, and after being on hold for an extended period of time, they removed the cushion. I was told that the cushion is added automatically and that I would have to call them every year to have it removed.
|
| 01/20/2017 |
Yes |
|
- Loan servicing, payments, escrow account
|
|
Web |
|
|
I sent a payment to PennyMac to bring my escrow account into the positive after my year-end review. The payment was sent with a note specifically stating that the money was to be directed towards the escrow and not as a regular monthly payment. I sent a message through their online portal to address the issue on XX/XX/XXXX. However, I have received no follow up from PennyMac and I do not wish to communicate over the phone as I have done that in the past and been told the wrong information, which I could not prove since there was no 'record ' of the conversation.
|
| 08/28/2015 |
Yes |
- Mortgage
- Conventional fixed mortgage
|
- Loan servicing, payments, escrow account
|
|
Web |
|
|
Re : case # XXXX : XXXX complaint is in response to the above loan. I have previously registered a complaint in regards to this issue. As a result I only received a refund of {$1100.00} instead of $ XXXXThe money was kept for XXXX months and they only paid the refund after the complaint was made.
PennyMac stated they have applied the balance to my escrow account. They can not do that and they had to refund my whole amount. On the other hand they have increased my monthly payments saying that there is a shortage of escrow. Kindly look into this and help us out.
|
| 10/12/2016 |
Yes |
|
- Loan servicing, payments, escrow account
|
|
Web |
|
|
After speaking with PennyMac mortgage, the representative failed to close out of my account and inadvertently set up auto bill pay to my mortgage. The error was only recognized when I a received a letter stating I had set up bill pay. By that time, the other customer 's payment had posted to my account. The payment was reversed but the following month the company determined my bank account had been closed so I was sent to collections. Nothing about my bank account had changed. The error must have been made when linking my original checking back to my mortgage.
|
| 04/21/2023 |
Yes |
- Debt collection
- Mortgage debt
|
- False statements or representation
- Attempted to collect wrong amount
|
|
Web |
|
|
Penny Mac Loan services, has claimed they paid the property tax bill on my house.
They have not. I have been informed by the city of XXXX XXXX, XXXX XXXX @ XXXX, XXXX The amount in question is still delinquent and XXXX XXXX @ XXXX XXXX has threatened to put a lean on the house.
I called Penny mac and they said they had in fact paid, but could not show me any evidence that they did. They simply stated that they did, I asked them to refund me the money and then I would pay myself to avoid the lien.
They refused claiming without any evidence they had paid.
|
| 10/19/2018 |
Yes |
|
- Trouble during payment process
|
|
Web |
|
|
I generally pay an additional amount each month with my mortgage payment to be applied towards the principal balance. Twice, I have experienced PennyMac applying the additional monies a day later. For example, PennyMac posted my XX/XX/XXXX payment on XX/XX/XXXX. However, they then posted the additional principal on XX/XX/XXXX.
In speaking with several friends who also have loans with PennyMac, they suggest they have encountered these same unscrupulous behaviors. Indubitably, if PennyMac is intentionally doing this to borrowers, they should stop immediately.
|
| 08/23/2016 |
Yes |
|
- Loan servicing, payments, escrow account
|
|
Web |
|
|
I contacted PennyMac USA to refinance a VA mortgage under the pretense of having a lower payment due to a reduced interest rate and a longer term. My loan amount was reduced but the increased my escrow over {$200.00} more per month for no reason. Now my payment is more than was quoted. I was duped into signing the contract by the loan agent threatening that I would not get the mortgage if I did n't sign. I want my payment reduced. I have filed complaints with the XXXX, Pa. Dept of banking and this deparmtent and have had no success getting a result. Thank you
|
| 01/28/2017 |
Yes |
|
- Loan servicing, payments, escrow account
|
|
Web |
Older American |
|
My finance company ( PennyMac finance has taken money from my account and made second payments for several months last year. I have tried to work with them, but no luck. They also made insurance payments to XXXX insurance companies even after I notified them XXXX was canceled. The money that was returned from the canceled insurance company was not put back in the Escrow account, but was used to make extra monthly payments on my loan. I was also charged a late fee although I have Bill Pay and mu mortgage payment is sent to PennyMac on the XXXX of every month.
|
| 03/11/2020 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
|
- Problem with a credit reporting company's investigation into an existing problem
- Their investigation did not fix an error on your report
|
|
Web |
|
|
I was shocked when I reviewed my credit report and found late payment on the dates below : PENNYMAC XXXX XXXX XXXX XX/XX/XXXX XXXX XXXX XXXX XXXX XXXX XX/XX/XXXX XXXX XXXX XX/XX/XXXX I am not sure how this happened, I believe that I had made my payments to you when I received my statements. My only thought is that my monthly statement did not get to me, or the payment was not applied as fast as expected. I check my bank account and noticed that you deducted the money out of my checking account that on the month that you marked me late on my credit report.
|
| 02/05/2020 |
Yes |
|
- Trouble during payment process
|
|
Web |
|
|
WE GOT A DELINQUENT TAX NOTICE I CALLED AND WAS TOLD IT WOULD BE PAIED THAT DAY XX/XX/2020. I CALLED THE TAX OFFICE IT HASNT BEEN PAIED I FILED A XXXX COMPLANT I GOT A CLL FROM XXXX AT PINNY MAC SHE SAID SHE WOULD LOOK IN TO IT I CALLED TAX OFFICE AGAIN NO PAYMENT SO I WAITED TILL TODAY CALLED PINNY MAC TALKED WITH XXXX got no answers she transferred me to XXXX she had no answers told me again she would look into it pinny mac is going to wait till we loos our home we pay escrow we can not come up with a extra XXXX dollars when they are supose to pay it
|
| 08/28/2023 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
- Escrow, taxes, or insurance
|
|
Web |
|
|
My mortgage is with Pennymac. Recently my monthly payment was increased due to increase in insurance. Pennymac is also sending me a check for an escrow balance beyond what I owed. Pennymac will not apply any surplus to my account. I have had no issue doing this with past mortgage companies. By not allowing this extra balance to pay ahead by the time my 30 year loan is finished I will be paying over {$1000.00} extra which delays my loan payoff by 2 additional months. This practice is deceptive and a way to squeeze additional interest out of the consumer.
|
| 05/13/2020 |
Yes |
|
- Struggling to pay mortgage
|
|
Web |
|
|
I called PennyMac to get at 3 months loan payment deferral. I talked to three or four or five people all of them acted like they have never heard of that and all they know about is forbearance I told him I don't want forbearance I want a loan modification payment deferral plan but they acting like that doesn't exist and they kept pushing forbearance. One guy even told me after I asked him if he's ever done a payment deferral before the virus he said yes then I said let 's do it now and he said I have to ask for forbearance before I do a payment deferral
|
| 06/21/2021 |
Yes |
|
- Applying for a mortgage or refinancing an existing mortgage
|
|
Web |
Servicemember |
|
We recently ( XX/XX/2021 ) re-financed our mortgage with XXXXennyMac Loan Services. During that process, we formally opted out of the sharing of our personal data with third-party marketers. However, we immediately began receiving solicitations from marketing firms possessing very precise information about our days-old loan. We called PennyMac 's office that ostensibly governs this activity ( XXXX ) but were told that PennyMac was not interested in ceasing the sale of our private information which PennyMac had legally committed to abstain from sharing.
|
| 07/29/2019 |
Yes |
|
- Trouble during payment process
|
|
Web |
|
|
Penny Mac bought my loan last XX/XX/XXXX, this XX/XX/XXXX they raised my escrow payment from {$300.00} to {$380.00}. my taxes went up around {$40.00} and insurance {$30.00}. all together {$70.00} does not meant i should have to pay Penny Mac an extra {$70.00} a month. At this point it is taking 3 of my 4 checks to pay my house payment. I do not understand how this is legal to ask for a lot more money than my actual taxes and insurance are. Also I have to pay a mortgage insurance I do not understand why. please help more or send me to someone that can.
|
| 03/18/2018 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
|
- Incorrect information on your report
- Account status incorrect
|
|
Web |
Servicemember |
|
I am writing to dispute the following information reported by PennyMac on my XXXX credit report ; 1. The Condition of the account is Open, not Derogatory.
2. The Status of the account is OK, not on a Payment Plan.
3. My Chapter XXXX bankruptcy was Discharged on XX/XX/2016
4. The current balance of the account is {$320000.00} Enclosed you will find copies of documents supporting my contention. Please investigate this matter and correct the disputed items to reflect the true standing of my credit. I further request a written response within 30 days.
|
| 10/25/2022 |
Yes |
|
- Trouble during payment process
|
|
Web |
|
|
I have an FHA loan that currently has escrow that includes a Mortgage Insurance Premium and I have requested that it be removed. My current loan balance is {$330000.00} and I have a 3.25 % fixed interest rate. I have not received a formal appraisal but neighborhood comps list my property value at {$510000.00}. The loan servicing company, PennyMac tells me that even with an appraisal, I must pay FHA Mortgage Insurance Premium for the full 30-years unless I refinance. To refinance would cost me more in the long run and I do not see this as beneficial.
|
| 12/28/2021 |
Yes |
- Mortgage
- Conventional home mortgage
|
|
|
Web |
|
|
On XX/XX/2021 I paid off the mortgage to a property I own. I only received {$16.00} from escrow which seems to be off balance. I have contacted the bank numerous times asking them for a detail to be sent on how they arrived at that total. I continue to speak with reps the tell me I can go through their website but I continually have issues accessing the site. I am requesting a detail be sent or faxed with a break down as to how they arrived at the total of {$16.00}. They were able to fax my final payment info but will not fax my settlement escrow.
|
| 02/19/2021 |
Yes |
|
- Trouble during payment process
|
|
Web |
|
|
I am currently under a Covid Plan with my mortgage. I made 5 {$1000.00} and 1 {$500.00} payment. I was informed the payments would be applied towards my mortgage payment and the rest to a suspense balance. This hasnt been the case, they have applied them to late fees and elsewhere. I have contacted them over 20x and I keep getting the run around that theyll correct the payments. I lost my job and have been dealing with unemployment delays and my household was impacted by the virus itself. Please help! And my monthly payments are around {$850.00}.
|
| 09/17/2019 |
Yes |
|
- Trouble during payment process
|
|
Web |
Servicemember |
|
On XX/XX/XXXX, our insurance provider issued a check for repairs to our home following flood damage. This check requires a simple stamp from PennyMac before it can be deposited into our account. We mailed this check, along with supporting documents and faxed copies, to PennyMac in XXXX. PennyMac confirmed receipt on XX/XX/XXXX and claimed to have mailed the stamped check back to us. However, 10 days later, no mail from PennyMac has arrived. We fear that PennyMac lost the check and made an untrue claim about mailing the stamped check back to us.
|
| 02/01/2017 |
Yes |
|
- Loan servicing, payments, escrow account
|
|
Web |
|
|
Pennymac is not adhering to RESPA, TILA, and consumer protection laws for mortgage loan servicing. I attempted to remit my payment today by the web and called in to only wait on hold for 25 mins, and was ultimately and erroneously denied due retaliatory discrimination for filing a HUD complaint. I contacted the company and informed them that I planned to remit a payment this month and instructed to do so by the rep. This is ridiculous and now my loan will report late. I want this investigated by HUD and CFPB and CA attorney general 's office.
|
| 09/07/2021 |
Yes |
|
- Trouble during payment process
|
|
Web |
Older American |
|
Hello I'm in XXXX county Georgia. I used to get a separate bill for storm drain charge which is a utility to maintain the drains. Now the county assessor is including it on the property tax bill. Can they do this add it to tax bill so lender collects enough in escrow to pay it. I have a fha loan. They sent a letter and this will take effect this year tax bill which.comes out this month.
XXXX County is who is putting on tax bill as a separate line. Spoke to mortgage company they pay whatever total is on the bill. They don't separate it out.
|
| 02/11/2018 |
Yes |
|
|
|
Web |
|
|
After filing my complaint with cfpd Pennymac contacted me. Once I recieved the letter detail all but one of my request. I contacted the agents phone number listed but they have not responded to my cal over a month and a half ago. My question had to do with the borrower who has refinance FHA-to-FHA and the refund of my Up Front Mortgage Insurance Premium. According to the FHA Loan Handbook, HUD 4000.1, The UFMIP is not refundable, except in connection with the refinancing to a new FHA-insured Mortgage but only within a certain time limit.
|
| 12/27/2022 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
|
- Credit monitoring or identity theft protection services
- Billing dispute for services
|
|
Web |
Servicemember |
|
Apparently, in XXXX the escrow account for my mortgage increased without my prior knowledge or notification from my mortgage company. I made the regular payment and noticed my credit score dropped in XXXX. Mind you, I have pridefully increased my credit score by almost XXXX points to secure funding for a pharmacy that I want to buy in the community that I live in. I called the mortgage company to inquire on the late payment and they said that my payment was {$50.00} short, and they will not remove the late payment from my credit report.
|
| 08/24/2023 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
|
- Problem with a credit reporting company's investigation into an existing problem
- Their investigation did not fix an error on your report
|
|
Web |
|
|
I am writing to bring attention to a concerning matter concerning my credit file. I have observed the presence of a collection entry from your agency, which has caught my attention as I was not previously informed about this collection. Furthermore, I hold serious doubts about the accuracy of the debt being claimed. As per the Fair Debt Collection Practices Act, I have the right to request validation of the debt. Thus, I kindly request that you provide me with the required validation and take appropriate actions to address this issue.
|
| 12/04/2022 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
|
|
PennyMac started out by taking months longer to close my loan than promised.
Now they finished by failing to send an escrow refund in the XXXX days required by law. They claim to have sent the refund, but its been over the XXXX mailing days that is reasonable to receive a refund check ( and theyve ironically sent several other documents that dont cost them money ), but were sitting at XXXX days past closing and the escrow refund is nowhere to be found, while I have to move and need my money.
Absolutely horrible, dishonest company.
|
| 10/02/2015 |
Yes |
- Mortgage
- Conventional fixed mortgage
|
- Loan modification,collection,foreclosure
|
|
Web |
|
|
in a letter from Pennymac dated XXXX/XXXX/2015 I was approved for a HAMP XXXX with Principal reduction Trial modification. My XXXX trial pmt was due and paid by XXXX/XXXX/15 my XXXX pmt was made on XXXX/XXXX/15 and my final trial payment was made on XXXX/XXXX/15. I have not received any permanent mod doc 's and no one at pennymac can tell me what the new terms are.
Pennymac is in breach of the XXXX month trial agreement.
They want meto make more trial pmts which is an unfair and deceptive ploy in order to partially collect on a debt
|
| 03/30/2020 |
Yes |
- Mortgage
- Other type of mortgage
|
- Trouble during payment process
|
|
Web |
|
|
The Escrow Account Disclosure Statement I received from Pennymac dated XX/XX/2020 states that my total payments from Escrow are {$3300.00}. The minimum required balance is stated as {$490.00}. This should only be " no greater than 1/6 of the estimated total annual payments from the account. '' I am being overcharged by {$310.00}. The correct amount is {$170.00}.
I am worried that this company is taking advantage of millions of consumers during this dreadful time by collecting and using this money interest free. Please investigate.
|
| 09/28/2018 |
Yes |
|
- Struggling to pay mortgage
|
|
Web |
|
|
I have faxed several mortgage modifications with financials to my mortgage company Penney Mac. My income was reduced when I became XXXX, Penney Mac doesn't want to work with me to reduce my mortgage payment.
My attorney has filed and injunction to stop them from foreclosing on my home.
A foreclosure property sale is set for my property XX/XX/2018 and there is a restraining order in place to stop the property foreclosure sale. Penney Mac is discriminating against me and they refuse to respect consumer rights and federal guidelines
|
| 11/08/2023 |
Yes |
|
- Trouble during payment process
- Escrow, taxes, or insurance
|
|
Web |
Servicemember |
|
PennyMac issued a credit for the increase in property insurance as a result of their failure to pay the renewal timely which led to us not having coverage. However, PennyMac charged us for lender premium policy which we do not agree with. Also, PennyMac has not provided us with a letter assuring us that they will cover the variance while we have an active mortgage loan with the company.
We have left numerous voice message for PennyMac, and no one has responded. We are hopeful that the bureau can assist in a getting a resolution.
|
| 12/15/2022 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
|
|
I purchased my home in XX/XX/2022 with a 20 % down payment and began making payments. I was told several times I would be able to waive my escrow account once my taxes and insurance for the year were paid. Now they have denied my request and stated the reason why is because of the LTV. They are asking for a 70 % LTV in order for me to get the escrow waived. I have called countless times and the only reason they give me is that they soft pulled my credit and it didnt meet their requirements to waive it until I reached 70 % LTV.
|
| 04/11/2022 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
|
|
XXXX, Im sending you this link to the Consumer financial protection bureau You need to submit a complaint and let them know that the balance of the mortgage has been paid off and you are entitled to the remainder of money that they owe you plus interest for holding it all this time.
Tell them that PennyMac wont release the funds until you submit contractor bids but that you dont know what you are going to do with the house yet and the balance of the mortgage is paid off so it is not necessary and it is none of their business
|
| 08/22/2018 |
Yes |
|
- Struggling to pay mortgage
|
|
Web |
|
|
I called Pennymac last month to ask what options I had regarding not being able to afford my whole payment for XXXX. I was told I could pay {$500.00} and make up the rest next month. I was told that because I am under BK protection this plan of action " would not affect me in any way ''. This was not true as I was charged about {$800.00} in late fees and interest. Furthermore, the statement I received os incredibly deceitful. It shows no late fees or interest and gives no information on the charges I was told would not happen.
|
| 01/28/2021 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
Servicemember |
|
I send in my payments way ahead of their due date. The last payment was sent on XX/XX/XXXX for XXXX 's payment due XX/XX/XXXX. The check has still not posted. The mortgage company prefers to have automatic payments and have told me so. So they sit on the check as long as possible to try to get me to do automatic payments instead. They're always blaming the post office. But other payments to other companies sent on the same day only take a two to three days to post. The issues cause me panic and anxiety and are not acceptable.
|
| 05/09/2016 |
Yes |
|
- Loan servicing, payments, escrow account
|
|
Web |
Servicemember |
|
To Whom It May Concern, I 'm writing to you because my house is being foreclosed on. the sale date to my house is XXXX XXXX is my XXXX modification that ive been on. the XXXX modification was back in XXXX XXXX '. I submitted everything they asked me for. then somewhere along the line my application for the modification got lost thru their cracks. if they can pull recordings and time stamped on documents that I submitted in a timely manner if you may please help me. my contact info. I may be reached any time anytime. thank you
|
| 11/09/2021 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
|
- Problem with a credit reporting company's investigation into an existing problem
- Difficulty submitting a dispute or getting information about a dispute over the phone
|
|
Web |
Servicemember |
|
They inappropriately put a remark on my credit score during the pandemic. I tried to call and spoke to multiple people and a supervisor and they offered no resolution. They would not even put an inquiry to check to see if there was anything that could be done ( regarding the credit remark ). The supervisor blamed it on the government and said everything was black and white. They are not being held responsible for their actions and reports. Someone needs to know about this. The employees over the phone were very rude as well.
|
| 04/27/2021 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Applying for a mortgage or refinancing an existing mortgage
|
|
Web |
|
|
I apply for a refinance loan, and after the make me wait over 2 month, had me do An Appraisal that can higher than expected the changed the application process, they desided no to count my rental income ( reason unknown ) so my application was denied but they didnt even send me a letter or nothing. So after 2 weeks trying to get and answer they just said I have to re apply so they block me from getting a loan fron a deferent lender with the offer they did not honor, and help lower my score by summitting multiple applications
|
| 07/05/2018 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Applying for a mortgage or refinancing an existing mortgage
|
|
Web |
Servicemember |
|
I was contacted by this firm XXXX XXXX stating that I was a victim of predatory lending.
This correspondence reference the complaint filed against XXXX XXXX. This was a firm that sought me out alleging that I was a victim of predatory lending with mortgage company ( Pennymac ) I had completed two trial payment plans ( 6months ) of {$1200.00} a month each to get an approved modification and XXXX in late fees and delinquent payments was added on.
Thanks XXXX XXXX and established a business contact stating the firm represent
|
| 06/18/2019 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
|
|
I am trying to get my mortgage loan statement rectified. I have been dealing with this for six months, The company stated that I was short on my payments when in fact I was one payment ahead of schedule. They adjusted my payment receipt schedule and I feel it still not accurate as of XX/XX/19. They told me my payments were up to date but I feel the adjustments they made on the loan activity statement are incorrect. I have spoken to several agents of their organization and just can't seem to get them to understand the issue.
|
| 09/22/2020 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
|
- Incorrect information on your report
- Information belongs to someone else
|
|
Web |
|
|
I am very concerned regarding the serious possibility that you have not follow permissible purpose provision of the federal fcra. Hey credit account an inquiry was placed on my credit report. The ACT specifies that you must document the reason for requesting my report and when in error remove them as well. I'm depending penny mac to follow the statute : need to provide documentation that allow is followed by researching the matter at once or move this offending account and inquiry as soon as possible yours truly XXXX XXXX
|
| 12/21/2018 |
Yes |
- Payday loan, title loan, or personal loan
- Installment loan
|
- Charged fees or interest you didn't expect
|
|
Web |
|
|
I was working with someone who said that he worked for PennyMac Loan Service. He said that he could get me a personal loan to pay for a property to fix and flip. He told me if I would pay a fee that I would get my loan transferred into my account. I paid all the fees that he said that I needed to pay and I still haven't gotten my loan yet. I went to the PennyMac site and filled out a request to be contacted and I found out this morning that he is not who he said he is. He said his name was XXXX XXXX and his email is XXXX.
|
| 08/27/2020 |
Yes |
|
- Applying for a mortgage or refinancing an existing mortgage
|
|
Web |
Servicemember |
|
On XX/XX/2020 we signed on our VA refinance loan with PennyMac, and set a closing date for our paperwork on XX/XX/XXXX. Penny Mac cancelled that closing due to an error in their calculation of our taxes, and did not let us know that they cancelled. We have spent the last 24 days calling every departemnt to help us, and no one can help put in the correct numbers. 24 days since be were to close, and we are about to loose the rate we locked into for the refinance, and no one can seem to help or call us back from PennyMac.
|
| 05/06/2019 |
Yes |
|
- Struggling to pay mortgage
|
|
Web |
Servicemember |
|
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.
|
| 05/10/2021 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Applying for a mortgage or refinancing an existing mortgage
|
|
Web |
|
|
Against Penny Mac mortgages I am formally disputing the appraisal, based on the XXXX XXXX specifically listed reasons contained within this email- there has been a gross material misrepresentation by the appraiser, which I also intend to take up the city 's licensing board for appraisers as he was asking my opinion of value and for information on the unit.
The company is refusing to reconsider the appraisal or even allow me to conduct another appraisal. They also have provided no response to my requests for answers.
|
| 02/08/2021 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
|
- Problem with a credit reporting company's investigation into an existing problem
- Their investigation did not fix an error on your report
|
|
Web |
|
|
PENNYMAC LOAN SERVICE ***** Opened XX/XX/2014 Balance {$170000.00} As a consumer, I have legal rights that are given to me to safeguard me from misinformation being announced on my own credit report. By now I need to produce a final demand for inspection before I speak with my lawyer for advice on how to handle inaccurate and unverifiable issues that are continuing to be validated as valid. Be sure you provide me along with a copy of the contract fixed or voice dialogue where I authorized billing me from this account.
|
| 07/28/2017 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Struggling to pay mortgage
|
|
Web |
|
|
Hi my name is XXXX XXXX and I have been dealing with PennyMac to obtain a loan modification to be able to keep my home at an affordable payment. I initially applied over two years ago and have never been given a proper review, I have been denied for multiple reasons. I do believe my lender is engaged in predetory lending and additionally i do not believe Penny Mac has the promissory note or deed of trust. Over all I am confident my lender has violated my homeowner bills of right and is often involved in dual tracking.
|
| 02/19/2021 |
Yes |
- Debt collection
- Mortgage debt
|
- Attempts to collect debt not owed
- Debt was paid
|
|
Web |
|
|
PENNYMAC LOAN SERVICES , LLC SENT US VIA U.S MAIL A BILL/STATEMENT TRYING TO COLLECT AN ALLEDGE DEBT WITH A POSITIVE BALANCE ON IT.
THE BILL/STATEMENT HAS SEVERALS VIOLATIONS. SOME OF THOSE VIOLATIONS ARE SHOWN ON THE EXHIBITS A, B AND C. THE VIOLATIONS FOUND WERE 15 USC 1692b. ( 5 ) ( PRESENTED TWICE ), 15 USC 1692b. ( 2 ), AND 15 USC 1692f. ( 8 ). ALL EXHIBITS I ATTACHED THEM HERE.
AS A NATURAL PERSON I KNOW THAT I JUST ONLY MADE A CREDIT TRANSACTION WITH THIS COMPANY AND I KNOW THAT IAM THE ORIGINAL CREDITOR
|
| 08/09/2019 |
Yes |
- Debt collection
- Mortgage debt
|
- Written notification about debt
- Didn't receive notice of right to dispute
|
|
Web |
|
|
A week and a half ago I signed a contract to purchase a foreclosed property from a government entity penny Mac. The property is located at XXXX XXXX XXXX XXXX., XXXX, ME. The listing agent is XXXX XXXX of XXXX XXXX XXXX and the selling agent is XXXX XXXX XXXX XXXX XXXX XXXX XXXX.
I have been making repeated attempts through my realtor XXXX XXXX to acquire the executed contract for my bank but Penny Mac is unresponsive. This demonstrates a poor business acumen and an inappropriate way to interact with the public.
|
| 11/23/2016 |
Yes |
- Mortgage
- Conventional fixed mortgage
|
- Settlement process and costs
|
|
Web |
|
|
i was supposed to close on my home on XX/XX/2016 just to find out that i was not able to do to the fact that the special warranty deed was not completed from Pennymac to HUD ... So now for the holidays Im homeless with my 2 children when i called Pennymac nobody seems to care. I have not splet or ate in days. How could something so simple have me and my children facing being homeless. Ive begg this company to respond ive called all day and been passed around. Please help me time is not on my side with this issue.
|
| 03/17/2023 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
|
|
i reached out to the mortgage company Penny MAC about a reassessment of the value of my house to have the PMI removed. They told me I had to make a payment for for the reassessment. I went only and changed my pending payment to be sooner and to add the additional amount to this payment. Which was made on XX/XX/XXXX and processed on XX/XX/XXXX. They still charged me on XX/XX/XXXX for my payment that was already paid on XX/XX/XXXX. this caused my account to be over drawn and many fees to get this straightened out.
|
| 09/19/2020 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Struggling to pay mortgage
|
|
Web |
|
|
i was XXXX XXXX a year ago from work and home XXXX last year. i am unable to make monthly payment with pennymac and seeking search for a buyer to buy the home for less than i currently owe pennymac in a short sale however all requests are being rejected for review. I submitted a borrower assistance package last month requesting a short sale review and no response. It has been really difficult for me and my family and i am trying to resolve the debt i owe by selling the home and not have foreclosure on my record.
|
| 12/23/2019 |
Yes |
|
- Trouble during payment process
|
|
Web |
|
|
On XX/XX/2019, a bill pay, payment was sent from our bank in the amount of {$1400.00}. As of today, the mortgage company, PennyMac, claims they have not received payment and have not located the payment. Our bank has faxed all of the information to the mortgage company to track the funds. The mortgage company claims their research department is working on the matter, but it has not been resolved. This same information for the payment was used in 2 other payment transactions successfully in XXXX and XXXX of 2019.
|
| 03/24/2023 |
Yes |
- Debt collection
- Mortgage debt
|
- Written notification about debt
- Didn't receive enough information to verify debt
|
|
Web |
|
|
PennyMac Loan Services LLC has provided misleading information and forms to the consumer to allege this debt is owed to them.
The consumer never received notice of their right to dispute the debt or request a complete debt validation.
The consumer never signed an agreement to pay PennyMac Loan Services , LLC, nor has PennyMac ever lent the consumer any funds to complete this transaction. This is a formal request for complete debt validation sent to the company on XX/XX/2023.
They have 30 days to respond.
|
| 04/06/2020 |
No |
|
- Trouble during payment process
|
|
Web |
Servicemember |
|
I called penny mac usa Twice about this.
I changed my payment account to savings ( instead of checking ) The payment was still withdrawn from checking even though I modified payment week in advance. This caused overdraft and payment wasn't applied Tried calling 2 times about this. Even escalated to management. Worried about fees/impacted score but the Company was too incompetent to rectify their mistake on the phone.
Looking at legal options to formally notify them and have someone competent fix the issue.
|
| 01/04/2023 |
Yes |
|
- Trouble during payment process
|
|
Web |
|
|
Pennymac has failed to remove the fees theyve added to the account from years ago after submitting a payment towards those fees in XXXX and previously as discussed with them over the phone. I was told some of the fees would be voided. The fees still Show. My statement shows fees currently at {$1600.00} Ive been on time with my payments since XXXX but the lender has failed to report this to all 3 Credit reporting agencies. They also refused a loan modification to remove PMI despite my 20 % plus deposit in XXXX
|
| 10/24/2023 |
Yes |
|
- Trouble during payment process
- Interest rate
|
|
Web |
Servicemember |
|
PennyMac offered a 1 % lower rate for a year going through them. After I was in the mortgage process they told me it costs money to which I agreed and paid and signed for at closing. My rate is still at the unadjusted rate and I have called them 5 times, emailed twice and talked to my direct loan officer. The second time I emailed was after almost 2months of closing and promises to correct the issue and still nothing. PennyMac is in violation of my contract with them and refuses to fix it or contact me back.
|
| 10/28/2022 |
Yes |
|
- Trouble during payment process
|
|
Web |
|
|
PennyMac refuses to accept fault for having my home ins cancelled and due to their deceptive behavior they added force placed ins to my loan! Im attaching screenshots of what my ins sent to them, this is the same ins policy Ive had for years!!!!! I have also asked them to contact me via email as I work when when they are open and they have refused to answer me via their secure channels! Oh they also claim they didnt pay my ins bc a primary name is listed however Im listed in the binder that was sent to them!
|
| 09/27/2023 |
Yes |
- Credit reporting or other personal consumer reports
- Credit reporting
|
- Problem with a company's investigation into an existing problem
- Their investigation did not fix an error on your report
|
|
Web |
|
|
Those payments were made on time. I am requesting that the late payment markings be updated to reflect my accurate payment history. If there is any confusion, I suggest you contact myself or the customer service representative of the said accounts. XXXX XXXX XXXX XXXX was reflected as a late payment on my credit report in violation of Federal Law. You are required under the FCRA to have a copy of the original creditors documentation on file to verify that this information is 100 % true, accurate & correct.
|
| 08/19/2019 |
Yes |
- Debt collection
- Mortgage debt
|
- Written notification about debt
- Notification didn't disclose it was an attempt to collect a debt
|
|
Web |
|
|
Mortgage comp failed to disclose county tax bills and now have to paid for taxes and penalties. Mortgage comp will not disclose phone calls alleging that they did in fact advise me on that issue. I have no issue paying my county taxes but not the penalties. I have ask mortgage comp for phone calls alleging that in fact they informed me of the issue which they will not provide me with. This cause my mortgage to rise a lot which I can not afford not only that stress on myself as a sole provider of my family.
|
| 11/30/2023 |
Yes |
|
- Struggling to pay mortgage
- An existing modification, forbearance plan, short sale, or other loss mitigation relief
|
|
Web |
Servicemember |
|
I have communicated with my loan servicer regarding my CARES Act forbearance for my VA loan. However, PennyMac is not offering me the loss mitigation solutions for the missed payments to VA mortgage borrowers under the COVID-19 CARES Act protections.
PennyMac Communication Log : 1, XX/XX/XXXX : Customer Service Outcome : Advised of new increased payment plan 2, XX/XX/XXXX : Partial Claim Rep.
Outcome : 1 payment plan offered, advised that the VA Partial Claim option it not available to me.
Thank You
|
| 12/10/2016 |
Yes |
|
- Loan servicing, payments, escrow account
|
|
Web |
|
|
PennyMac stole {$1700.00} out of my Escrow account.
In XXXX 2016, my Escrow balance was {$770.00}. I made a payment of {$2300.00} into my escrow, and my real estate taxes ( {$1400.00} ) were paid this month ( XXXX 2016 ). I should 've had a remaining escrow balance of {$1700.00}, but PennyMac listed my remaining balance as {$15.00}.
The problem has continued to compound throughout 2016. My XXXX 2016 Escrow balance should be {$2600.00}. PennyMac shows it as {$750.00}. There is a {$1900.00} discrepancy.
|
| 11/20/2020 |
Yes |
|
- Struggling to pay mortgage
|
|
Web |
|
|
Completed a short sale, received approval to patriciate and gave me a number they wanted for the offer. The Realtor got amount requested, buyer is ready to settle. The lender keeps rescheduling which is postponed each time. I have a buyer ready to go to settlement immediately and the lender is refusing to send the approval prior to sheriff sale. This is the third time they have done this. The buyer has offered appraised value that the lender already said they would accept. Buyer is ready to settle.
|
| 06/23/2017 |
Yes |
|
- Struggling to pay mortgage
|
|
Web |
|
|
There are late payments on my mortgage since XXXX XXXX. I have been paying every month and have been in contact with PennyMac regarding my payments. The late payments are as follows : 30 days past due as of XXXX XXXX to XXXX XXXX I wanted to see if there was anything that could be done about changing my due date and removing the late payments from my credit report. I feel that buy changing the due date, it will avoid any future late payments. I thought I was only about 21 days late and never 30.
|
| 04/28/2022 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
|
- Problem with a credit reporting company's investigation into an existing problem
- Their investigation did not fix an error on your report
|
|
Web |
|
|
XXXX XXXX XXXX ( PENNYMAC LOAN SERVICES ) claimed I did not make my mortgage payment in XXXX, 2017.
- I made one payment on XX/XX/2017 to XXXX XXXXXXXX XXXX XXXX XXXX ( the original lender ) ; - I made a second payment on XX/XX/2017 to PennyMac ; - I made a third payment on XX/XX/2017 to PennyMac.
PennyMac reported my account as late for XX/XX/2017 which is inaccurate. I have reached out to PennyMac and the credit agencies several times to get this removed. However, it remains reported late.
|
| 10/08/2021 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
|
- Problem with a credit reporting company's investigation into an existing problem
- Their investigation did not fix an error on your report
|
|
Web |
|
|
Despite my previous query letters to your department, the most recent credit report I reviewed indicates that this record is being accounted for incorrectly and inaccurately. This file is used to keep track of various " infringement '' declarations. I don't believe the circumstances surrounding this record are accurate. Ensure that reliable, fair, and comprehensive reporting is done! In order to validate or refute my point, I demand proof that you followed all of the proper and fair procedures.
|
| 10/24/2018 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
Servicemember |
|
I have a loan with Pennymac Loan Servicing, I have not ever missed a payment. Each time I call they tell me that I am missing a months payment, I have contacted them several times and they can not tell me where the breakdown is, and I have also sent in bank statements, and letters on bank letterhead stating that ALL of my payments have been made and not one has been returned unpaid. I need assistance with this issue. They are reporting that I have missed payments every month, and late charges.
|
| 01/02/2023 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
|
|
Company is the worst company I have ever worked with. I provided my insurance multiple times, the keeps saying that I don't have insurance, and are now not applying my payments and charging late fees. I keep asking them to transfer my loan since they purchased it and have messed it up ever since. I would have never done a loan with them. Now they're saying my loan is in default, yet I have proof I have paid every payment and am not behind. They're just trying to scam me and charge bogus fees.
|
| 01/24/2022 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
|
- Problem with a credit reporting company's investigation into an existing problem
- Their investigation did not fix an error on your report
|
|
Web |
|
|
-made a lump payment of {$17000.00} on XX/XX/2021 exiting my forbearance plan via phone with pennymac -it was communicated to me that after i made this payment i will be able to resume payments as normal -error code that blocks autopay was found on XX/XX/2021 on my account and paid outstanding amount while on the phone with an agent -was told because it was an error on pennymac and i was able to make outstanding and current month payment ( XXXX payments ) that it would not be reported as late
|
| 12/31/2018 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Struggling to pay mortgage
|
|
Web |
|
|
This is a second complaint. PennyMac has stated they denied my modification in prior CFPB response because I have not made 12 payments on the loan. This is not what their customer service rep stated and what their denial letter states. " We are unable to offer you a modification because you obtained your loan within the last 12 months. '' I was advised by origination date verbally on the phone and told to reapply in XXXX and both denial letters to do not reference having not made 12 payments.
|
| 04/13/2017 |
Yes |
|
- Loan modification,collection,foreclosure
|
|
Web |
|
|
I lost my XXXX job in 2015, now I work as an XXXX, my wife works as a XXXX. My mortgage is an FHA backed with PennyMac of XXXX XXXX, CA.
Loan # XXXX. Our loan modification request was denied twice. Recently, I submitted a proof of my wife 's payroll and bank statement, but the company is not responding, and started foreclosure procedures. We contacted them as soon as I lost my job, but they told us that the loan is not one year old yet, so we waited, borrowed money to pay for back mortgage.
|
| 01/18/2017 |
Yes |
|
- Loan modification,collection,foreclosure
|
|
Web |
|
|
My home was foreclosed on Penny Mac through XXXX attorney 's at XXXX. I have requested the documents from Penny Mac which was suppose to provide me notice of the foreclosure, which I never received. My job takes me from XXXX to XXXX however, I was laid off and requested assistance which Penny Mac refused to provide and kept referring me to the Attorneys Office. The law states I was to have a certified letter giving me notice no letter was received either by Penny Mac or the XXXX law offices.
|
| 03/25/2016 |
Yes |
|
- Settlement process and costs
|
|
Web |
|
|
I have been working with PennyMac Loan svc on a Refinance They have been very rude to me and the numbers have changed every time that I have spoken to them. I do not understand why my closing costs changed from my closing disclosure dated XXXX/XXXX/2016 to my new closing disclosure dated XXXX/XXXX/16.
Why are they collecting 13 months homeowners insurance now compared to only 2 months on my previous disclosure?
My closing cash to close went from {$790.00} to {$1200.00} in less than 1 month
|
| 05/02/2015 |
Yes |
|
- Application, originator, mortgage broker
|
|
Web |
|
|
I responded to a marketing message from PennyMac and inquired about a refinance. I received a quote from XXXX XXXX and advised him that I will continue to shop around. I ended up finding a better deal and informed XXXX and PennyMac customer Service that I will not be moving forward with them. I heard no response from XXXX since, today I received a package in the mail that was sent to my address and had my home on the loan documents. However, there was PII data from another PennyMac consumer.
|
| 09/09/2020 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Applying for a mortgage or refinancing an existing mortgage
|
|
Web |
|
|
The loan officer XXXX XXXX ( NMLS # XXXX ) with PennyMac Loan Services , LLC is not responding to my emails, phone calls for the past 10 days. I have provided all the documents he requested but now I have no idea what is happening with my refinance application. This I think is very irresponsible that you ask a customer to bend over backwards and provide all that is needed and you just disappear! As a consumer I feel violated as I did my part and this guy has no courtesy to even respond.
|
| 04/23/2019 |
Yes |
|
- Trouble during payment process
|
|
Web |
Older American, Servicemember |
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When XXXX XXXX sold my mortgage to Penny Mack, my mail was not forwarded to my correct XXXX address. Automatic payment and contact details were not correctly input by Penny Mack. As a result I had no knowledge that Penny Mack was my new mortgage company and my first 4 monthly payments were not taken. As a result my credit rating is severely damaged and my ability to utilize the VA IRRRL program is lost.
Penny Mack complaint numbers : XXXX & XXXX Please help, XXXX XXXX XXXX XXXX XXXX
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| 08/29/2017 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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|
Web |
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Our lender is PennyMac, though we initially bought our home through XXXX mortgage. We received a letter that beginning next month, XXXX XXXX, our payment will be increasing from the current amount of {$1700.00} to {$2400.00} due to an escrow deficiency. This is an insane increase to be facing, and it just feels like this has to be an error! We understand that escrow estimates can adjust, but this is such a ridiculously high amount that it seems as though PennyMac screwed up somewhere.
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| 08/26/2016 |
Yes |
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- Loan modification,collection,foreclosure
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|
Web |
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PennyMac is Dual Tracking. Client is in review for a loan modification and a 30day condition letter was sent on XXXX by underwriter XXXX XXXX in the Texas office. Sale date is XXXX. Deadline for docs to be sent in per the letter Pennymac sent is XXXX.
How can they foreclosure if the file is in review for modification?
They are dual tracking.
They are also discrimination based on language, ethnicity, race, marital status.
We will take legal action if the sale date is not postponed.
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| 02/07/2016 |
Yes |
- Mortgage
- Conventional fixed mortgage
|
- Loan servicing, payments, escrow account
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|
Web |
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My lender has placed lender placed flood insurance on my unit even though the flood insurance is not required. My insurance officer has submitted the requested forms twice now and still they have placed the insurance on my account. XXXX times there forms were submitted were within the window the lender had given to submit these documents.
My fear is that they will play a game with my mortgage and will try to access extra fees and place my mortgage in jeopardy and therefore my credit.
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| 09/13/2022 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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|
Web |
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On XX/XX/2022 my mortgage insurance company sent an invoice to PennyMac my loan servicer for my annual homeowner 's insurance premium totaling {$1300.00}. As of XX/XX/2022 they still have not paid my homeowner 's insurance carrier, but decided to pay their own carrier {$3700.00} from my escrow account. I consider this nothing more than Fraud. I have submitted to them the correct invoice for payment, and demanded they refund my escrow account, and as of now they still haven't done so.
|
| 05/14/2021 |
Yes |
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
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We have tried for a full month plus to refinance our home loan. After signing all documents and supplying required documents we did not hear back from our lender XXXX XXXX XXXX # XXXX. We had left several message and sent several emails asking for updates and a few questions. Each time we were told that the message has been sent up to her management team and still nothing. I would not work with XXXX XXXX for lack of communication as well as lack of organization during a loan process.
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| 01/28/2022 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
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Web |
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We have received a Tax statement from County that taxes are not paid for XXXX. I have sent the tax statement on XX/XX/XXXX to Pennymac and they have not responded to my emails or phone calls. Called Customer Service for about XXXX times and it just sits on queue forever. No person to talk to. I have requested a call back and no one responds.
I have sent emails dated XXXX.
I would like to know the proof of any payments made and also have them contact the County and sort this out.
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| 11/11/2019 |
Yes |
- Mortgage
- Other type of mortgage
|
|
|
Web |
Servicemember |
|
On or about XX/XX/2019 I request PennyMac to transfer a copy of my VA appraisal letter to XXXX XXXX for a refinance. Since this time, I have had to contact the company on 3 different occasions to get the transfer approved and authorized so that I can close on a refinance loan with XXXX XXXX. PennyMac is my current mortgage lender and I can not believe that it takes a company 10+ days to transfer paperwork. This has caused me a hardship and frustration. Today 's date is XX/XX/2019.
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| 12/05/2016 |
Yes |
- Mortgage
- Conventional fixed mortgage
|
- Settlement process and costs
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|
Web |
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I submitted a HAFA short sale to PennyMac for XXXX, loan number XXXX, XXXX XXXX, I worked with the Seller in submitting a proper application and worked with PennyMac in getting a market value as they were way over valuing the property. I followed HAFA guidelines in listing and advertising the short sale with a 6 % commission. PennyMac is now not following the HAFA guidelines in trying to reduce the commission to 5 % and now saying it is not a HAFA short sale, when it clearly is.
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| 03/06/2020 |
Yes |
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- Trouble during payment process
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|
Web |
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closed on mortgage and made first scheduled payment in XX/XX/2018. Soon after Pennymac began saying we were behind with amounts swinging wildly one way or the other. We have made all payments, although a few have been late, and they are now threatening foreclosure although my records show me current. I have sent a qualified written request to have a complete accounting of all payments to try and figure out what is wrong but they have not sent a reply or accounting of payments.
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| 01/18/2019 |
Yes |
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- Trouble during payment process
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|
Web |
Servicemember |
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Good Afternoon, I have 30 years mortgage loan ( Loan # XXXX ) with XXXX XXXX XXXX XXXX , XXXX.
For the pasts five year, I have been making payment to XXXX XXXX for time manner. Unfortunately the Loan was sold to Penny Mac. By law, the new owner of your loan must notify me within 30 days of effective date of transfer.
I have never received notice from Penny Mac Loan No. XXXX or XXXX XXXX.
Now I'm getting harassment phone calls from Penny Mac stating my loan is default.
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| 05/18/2016 |
Yes |
- Mortgage
- Conventional adjustable mortgage (ARM)
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- Loan modification,collection,foreclosure
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Web |
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I was communication with PennyMac for a short sale status, they never approved me for the short sale and were taking forever giving me information regarding postpone the sale. I called and was desperate for all options so I asked for a Payoff quote and then when I called the next day to ask about the short sale request they told me that because I asked for a payoff quote they took me out of review for the short sale and said they were proceeding with the sale on XXXX/XXXX/16.
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| 01/04/2023 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
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- Incorrect information on your report
- Information is missing that should be on the report
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Web |
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I filed for bankruptcy in 2020 because of my vehicle only which my attorney and the court was aware. Pennymac stopped reporting my loan details to the credit reporting agencies and claims my mortgage was part of the bankruptcy which it was not. I tried to resolve the issue with the lender and credit agencies. The lender replied to all agencies and keeps telling them the information theyve been reporting is accurate even though its not since the loan is active and current.
|
| 05/14/2019 |
Yes |
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- Trouble during payment process
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|
Web |
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My loan servicer PennyMac hired a company to check on my property. That company broke into my property on several occasions and took all of my personal property. I filed a police report. To date I am paying my mortgage and am unable to live in the house because I have nothing.
This happened on or about XX/XX/2018 to XX/XX/2018 while I was out of state. I filed a police report.
No one wants to accept responsibility. My loan has now been transferred to XXXX XXXX services.
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| 02/01/2023 |
Yes |
- Debt collection
- Mortgage debt
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- Took or threatened to take negative or legal action
- Seized or attempted to seize your property
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|
Web |
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I am a consumer and my privacy has been breached by unwarranted communications by debt collector attorney XXXX, XXXX XXXX XXXX without my consent. They are contacting consumer for an unverified alleged debt for their client PENNYMAC LOAN SERVICES , LLC who is a debt collector and did not give me an alleged loan. XXXX XXXX XXXX XXXX XXXX is in violation of my consumer rights pursuant to the Fair Debt Collection Practices Act. This matter is currently in federal litigation
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| 04/25/2017 |
Yes |
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- Struggling to pay mortgage
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|
Web |
Servicemember |
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My loan from boa was sold to pennymac c around XXXX of XXXX . Yesterday XXXX XXXX XXXX I asked for a copy of payments for life of the loan. Pennymac said they would have to ask boa for the records when they owned loan. I thought all records are to forwarded to new loan owner when they acquire ownership? I was in foreclosure with boa but it got paid. Now I see pennymac has all the fees and costs on my account with pennymac. XXXX took me to court notpennymac
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| 11/29/2021 |
Yes |
- Mortgage
- Other type of mortgage
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- Struggling to pay mortgage
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|
Web |
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I made several payments after my forbearance period ended. Which was XX/XX/XXXX. All overtime at my job had been halted I was barely bringing home enough to pay my bills in XXXX. My wife lost her job and I was the only one bringing home anything. Pennymac offered the forbearance program and it said on their website that it would be tacked onto the end of my loan. I provided them with all of the information they requested and waited just to be denied for a modification
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| 09/14/2020 |
Yes |
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- Trouble during payment process
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|
Web |
Older American, Servicemember |
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I asked for and received a Covid-19 deferment. I was under the understanding that the deference wouldn't effect my credit report. Which the loan company has reported and effected my credit rating. I also asked for a refinance, an IRRRL, which was denied since I was in a deference status according to PennyMac Home Loan Servicing representative ...
I recall a letter being sent out by the CFPB to certain lenders to comply with the CARES Act. PennyMac was on the list.
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| 02/06/2019 |
Yes |
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- Trouble during payment process
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|
Web |
Servicemember |
|
PennyMac loss draft department has routinely failed to make my insurance settlement FUNDS THAT I FOUGHT HARD TO GET A FAIR SETTLEMENT available to me to get my repairs done. When I call the loss draft department I speak with rude, loss draft department personnel with attitudes who drop calls and refuse to transfer me to management and instead place me on long hold times well over an hour in length without resolution. They are illegally holding MY MONEY for repairs.
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| 03/14/2022 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
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- Incorrect information on your report
- Account status incorrect
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|
Web |
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PennyMac Financial Services ( PENNYMAC LOAN SERVICES ) claimed I did not make my mortgage payment in XXXX, 2017.
I made one payment on XX/XX/2017 to XXXX XXXX XXXX XXXX XXXX ( the original lender ) and a second payment on XX/XX/2017 to PennyMac.
I realized at a later date that PennyMac had reported my payment as late which is inaccurate. I have reached out to PennyMac and the credit agencies several times to get this removed. However, it remains reported late.
|
| 03/30/2021 |
Yes |
|
- Applying for a mortgage or refinancing an existing mortgage
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|
Web |
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I was inquiring about a streamline refinance with my mortgage bank XXXX. they required a XXXX dollar deposit to start the process. After reviewing all the information, I decided not to proceed with the loan. I have not been able to get a refund on my deposit. The loan officer XXXX XXXX XXXX XXXX will not return my calls, she sends all emails via encrypted with no code to access the email. I am requesting assistance to have my deposit returned back to me. Thank you
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| 06/23/2021 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
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|
Web |
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I refinanced my house and have been waiting for my escrow account refund. The taxes were paid by my new loan company and Penny mac who is my old company also paid them The loan was paid off on XX/XX/21. XXXX XXXX sent the money back to XXXX on XX/XX/21 and Penny mac said they were going to send the money to us on XX/XX/21. I called today on XX/XX/21 and they still have not sent the money to us. I have called them 6 times and everytime they give me the run around.
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| 11/12/2020 |
Yes |
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- Trouble during payment process
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|
Web |
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I currently pay every week due to budgetary restrictions. When the payment is processed it get applied to the principal and not the monthly payment. Each month I have to contact the company to correctly apply my payment. It appears that the payments are not posted to the actual payment date. It appears as though the payments are applied to the payment due date. By doing this the interest is not reduced at a faster rate and making me eligible for an early payoff.
|
| 05/21/2020 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
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- Incorrect information on your report
- Account information incorrect
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|
Web |
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We called to ask about Forbearance plan, and was told information would be sent out for our review. We received a letter on XX/XX/2020 stating we have been approved for a Forbearance plan. After reviewing the information we decided this is not for us and paid our monthly payment on time and have been paying on time as our credit report stated all for the month of XXXX states No Data Show ( ND ). We are request the month of XX/XX/2020 to be shown as paid on time.
|
| 03/14/2016 |
Yes |
|
- Loan servicing, payments, escrow account
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|
Web |
Servicemember |
|
I submitted an automatic payment through bill pay twice on accident. XXXX for XXXX/XXXX/16 amd XXXX/XXXX/16. I also sent the payment to a wrong loan number. I Called pennymac to get refund on XXXX/XXXX/16. They notified me they have received the XXXX/XXXX/16 payment but do not see my XXXX/XXXX/16 payment. I have called them multiple times to get this resolved. The bank confirms pennymac has the funds but pennymac will has not located it and refuses to help me.
|
| 04/17/2015 |
Yes |
|
- Loan servicing, payments, escrow account
|
|
Web |
Servicemember |
|
On XXXX XXXX, 2015 PennyMac informed us in writing that : '' If you prefer to pay your escrow shortage of & XXXX, XXXX in full, your new monthly payment would than be {$1.00}, XXXX. '' We paid in full ; however, we just received our payment for XXXX and the amount is for {$1800.00} vice the {$1.00}, XXXX as stated in previous written letter.
I called, but no help, only that they would " run an analysis '' and called a another person, XXXX, but no return call.
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| 05/15/2023 |
Yes |
- Mortgage
- Other type of mortgage
|
- Trouble during payment process
|
|
Web |
|
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Pennymac has repeatedly refused to remove PMI from my loan. Original loan amount is {$94000.00} and current balance is {$67000.00} ( nearly 30 % lower ). The Homeowner 's Protection Act states that FHA and VA loans are not covered which my mortgage is neither of those. On XX/XX/2023 I will officially have had this mortgage for 10 years and in those 10 years I have not only had a great payment history but have actually paid MORE than what has been asked of me.
|
| 11/19/2022 |
Yes |
|
- Credit monitoring or identity theft protection services
- Problem canceling credit monitoring or identify theft protection service
|
|
Web |
|
|
On XX/XX/XXXX the payment for my mortgage in the amount of XXXX posted on my XXXX XXXX statement for my XXXX payment.
I recently pulled my credit to close on a 2nd home and a mortgage late was found for the month of XXXX. The mortgage late indicates 30+ days late and that was not the case. When I called Pennymac the representative said they received the payment XX/XX/XXXX for XXXX but that their systems were automatic and there was nothing she can do for me.
|
| 03/31/2022 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
|
|
my mortgage company PennyMac Loan service llc sent me a letter informing me i have a lapse on hazard insurance, the lapse is 52 days and i am charged {$1600.00}. PennyMac put in place an insurance for a coverage of {$2.00} million, my property 's appraisal price is less than XXXX XXXX and mortgage amount is XXXX XXXX.
I checked my policy and acknowledge this lapse. however the hazard insurance i purchased costed {$200.00} annually. This is a serious ripoff.
|
| 03/29/2017 |
Yes |
- Mortgage
- Conventional fixed mortgage
|
- Loan servicing, payments, escrow account
|
|
Web |
|
|
I am trying to pay my mortgage by logging into the PennyMac site. They are authenticating me by sending an email with a XXXX digit code. They only give 2 minutes to type the code in, but I am not getting the code for approximately 5-10 minutes. I have tried 5 times today and it is infuriating. There is no option to use a phone code or anything else, so I am stuck and I have a mortgage payment that is due. This 2 minute policy is unreasonable.
Thank you, XXXX
|
| 02/11/2021 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
|
|
PennymacUSA has an option on their website for a payoff demand. I was curious so I decided to click on it. There wasnt a disclosure indicating a fee would be charged. If there was, I would not have continued. I called and explained this and they refused to remove the fee and said they are not required to disclose any fee charges. In my opinion, all fee charges should be disclosed. The fee appeared on my monthly statement but does not appear on their website.
|
| 05/20/2019 |
Yes |
|
- Trouble during payment process
|
|
Web |
Servicemember |
|
On XX/XX/2019, I sent a PRINCIPAL ONLY payment to my lender of {$500.00}. ( The payment literally said PRINCIPAL PAYMENT. ) They only applied {$410.00} towards my principal.
On XX/XX/XXXX, they issued a check for an over payment of escrow of {$330.00}.
On XX/XX/XXXX, they applied {$19.00} to my principal.
Why was my entire {$500.00} NOT applied to my principal as directed? This company did NOT have my authorization to do anything else with these funds.
|
| 07/28/2020 |
Yes |
|
- Struggling to pay mortgage
|
|
Web |
|
|
Penny Mac has been telling me that deferring my payment to the end on my loan was a foreberance option available to me..Tonight, a supervisor, XXXX, told me that because I paid XXXX XXXX mortgage on XX/XX/2020, instead of XX/XX/XXXX, the option to defer my mortgage to the end of my loan is no longer available..I have made a formidable effort and have caught up to my mortgage to most of XX/XX/2020. I have exhausted my savings and have NOTHING LEFT. XXXX.
|
| 10/04/2017 |
Yes |
|
- Trouble during payment process
|
|
Web |
Older American, Servicemember |
|
Penny Mac, took XXXX dollars out of my checking acct. without authorization from my XXXX XXXX. In calling them they told me that someone called me and I set up an automatic withdrawal payment with them. I DID NOT AND NO ONE CALLED ME. This is fraud. I have never been late on my payments and have always called in to make that payment. THIS IS FRAUD BY PENNY MAC.
My name is ; XXXX XXXX, XXXX XXXX XXXX XXXX, XXXX XXXX, Utah XXXX, Acct : # XXXX at Penny Mac.
|
| 01/22/2017 |
Yes |
- Mortgage
- Conventional fixed mortgage
|
- Loan servicing, payments, escrow account
|
|
Web |
|
|
On XX/XX/XXXX, I purchased my current house through XXXX Mortgage INC. I put down 25 % down payment on my house ( That 's why I paid ESCROW by myself and I have all the tax payment receipts ). In XX/XX/XXXX, XXXX sold the mortgage to the PennyMac, On XX/XX/XXXX, PennyMac send me an notice that I have been shortage on my ESCROW account for {$5200.00}. My complaint is why do I have to pay the shortage account to the PennyMac when I pay all the tax by myself?
|
| 11/01/2015 |
Yes |
|
- Loan servicing, payments, escrow account
|
|
Web |
|
|
I refinanced my mortgage with another bank XXXX/XXXX/2015 and according to the laws I was to receive my escrow balance returned to me no later than 30 days. I have not received it and due to the fact they did not pay my flood insurance on time ( 30 days late ) now my home owners is due along with my taxes and I just want my escrow money so I can pay them. I am tired of fighting with these people to do the right thing and conduct business in an ethical way.
|
| 03/22/2022 |
Yes |
|
- Trouble during payment process
|
|
Web |
Servicemember |
|
I contacted PennyMac on XXXX XXXX concerning my over payment on my escrow account for XXXX.I received a response from them dated XXXX XXXX trying to justify not paying the over payment.
I'm asking you to investigate if PennyMac can legally overcharge me {$2300.00} and not pay me after all the taxes and insurance has been paid.
I have never been late on a payment and have it set up on a automatic draft.
Please hold these mortgages companies accountable.
|
| 08/18/2021 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Applying for a mortgage or refinancing an existing mortgage
|
|
Web |
|
|
I refinanced with my original lender pennymac in XXXX. The loan officer said that I qualified for a program to take my PMI off, because I have great credit. Fast forward to XXXX I called again to possibly refinance and get information. The loan officer I spoke with informed me that the PMI was put on the back end of my loan. I had no knowledge of this and that was not what I was told. Is there anything that I can do? I was definitely not informed of this.
|
| 07/29/2023 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
|
|
At the beginning of they year, my account was fixed and everything was set current. All of a sudden, I'm behind again. All my payments have been made on time. How can a place do this, they can't even figure out how to post a payment. I emailed the rep multiple times and she never responded, I tried on the phone multiple times and couldn't get anyone to help. Customer service is non-existent at Pennymac, how they're allowed to service loans is a travesty.
|
| 12/30/2021 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Applying for a mortgage or refinancing an existing mortgage
|
|
Web |
|
|
Hello, Pennymac Mortgage currently holds my mortgage ( which I refinanced in XXXX and then Pennymac subsequently purchased ). They call me constantly to refinance again. I called them in XX/XX/XXXX to have them remove me from their list. They assured me they would stop calling me about refinancing ( and while I was on the phone with them, they tried to sell me a refinance again ). They typically call me 5-6 times per week. Please help.
Thanks, XXXX
|
| 12/27/2020 |
Yes |
|
- Incorrect information on your report
- Account information incorrect
|
|
Web |
|
|
The loan was current at the time of deferral provided by the FHA. The loan went into deferral in XXXX. PennyMac has reported the loan to be 120 days past due in XX/XX/2020. My mortgage servicer is required to report my account as current during the forbearance period to the Credit Reporting Agencies per guidance from FHA and HUD. I am requesting PennyMac to remove the past due derogatory flag from my credit report from all three agencies immediately.
|
| 05/13/2020 |
Yes |
|
- Trouble during payment process
|
|
Web |
|
|
I filed a complaint with you guys about PennyMac and how they're trying to scam people into forbearance as opposed to payment deferment during this crisis. So I left a complaint with you guys and the next day for some reason they call me up to talk about it I just think it's kind of weird they call me to ask about a complaint I made this should be done privately I don't know why you share information with them I feel intimidated by them calling me up
|
| 02/28/2018 |
Yes |
|
- Applying for a mortgage or refinancing an existing mortgage
|
|
Web |
|
|
Working with XXXX asked for an appraisal to remove PMI, they informed me that my PMI is locked in for 30 years?
Loan Number XXXX Next Payment Due Date XX/XX/XXXX Next Payment Amount {$1900.00} Property Address XXXX XXXX XXXX XXXX, FL XXXX Loan Type FHA RESIDENTIAL Original Principal Balance {$270000.00} Origination Date XX/XX/XXXX Original Term 360 months Current Principal Balance {$260000.00} Loan Maturity Date XX/XX/XXXX Remaining Term 326 months
|
| 11/19/2023 |
Yes |
- Credit reporting or other personal consumer reports
- Credit reporting
|
- Improper use of your report
- Reporting company used your report improperly
|
|
Web |
|
|
In accordance with the fair credit reporting act Pennymac Loan Services , LLC has violated my rights 15 USC 1681 Section 602 States I have the right to privacy. 15 USC1681 Section 604 A Section 2 also states a consumer reporting agency can not furnish an account without my written instructions 15 USC 1666B.
A creditor may not treat a payment on a credit card account under an open end consumer credit plan as late for purpose Respectfully, XXXX XXXX
|
| 10/20/2023 |
Yes |
|
- Trouble during payment process
- Fees charged
|
|
Web |
Servicemember |
|
I have bought my house 2 years ago with a XXXX interest rate. My payment was {$2700.00} a month. Last year they raised my rent {$300.00} a mont to {$3000.00} a month. Now this year they raised my mortgage to over {$400.00} a month. Now my payment is {$3400.00} per month. My property taxes went down I am sure my insurance went up a little not {$6000.00} dollars. Something is wrong and they are not fixing it. At a XXXX interest rate this is not right.
|
| 08/15/2023 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
|
|
Company refused to provide validation of this account, has not produced information and forms we requested. Refused to produce transaction report log showing the source and destinations of the funds of alleged loan. Pennymac did not inform us that our note would be securitized and traded without our knowledge.
Tax fraud reported to irs. Identity theft is being reported for sharing private personal information with third party and all credit bureaus
|
| 07/31/2022 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
|
- Improper use of your report
- Reporting company used your report improperly
|
|
Web |
|
|
In accordance with the fair credit reporting act, PennyMac Loan Servicing, account XXXX, has violated my rights.
15 USC 1681, section 602 states I have the right to privacy.
15 USC 1681, SECTION 604 a SECTION 2 : It also states a consumer reporting agency cant furnish an account without written instructions.
15 USC 1666B : A creditor may not treat a payment on a credit card account under an open-end consumer credit plan as late for any purpose.
|
| 12/10/2020 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
|
|
I had two mortgages both had PennyMac as the loan servicer. I refinanced both mortgages with another lender and the funds were wired to PennyMac on XX/XX/2020. despite that PennyMac went ahead and still drafted out of my checking account XXXX payments on XX/XX/2020 for {$1400.00} and on XX/XX/2020 for {$1500.00}. which is clearly illegal since the loan has been paid. I have tried to call many times and the company has refused to refund me the money
|
| 06/17/2015 |
Yes |
|
- Loan servicing, payments, escrow account
|
|
Web |
|
|
My original unpaid principal balance is {$150000.00} but my current unpaid principal balance is {$150000.00}. My loan is current and i have never missed a payment i dont understand how my balance could be going up unless i have a negatively amortizing loan which i do not. I have a FHA loan with a fixed rate of 4.2 %. The servicer is pennymac and the loan number is XXXX and they have been non responsive to my inquiries on this. I am very concerned.
|
| 01/18/2017 |
Yes |
- Mortgage
- Conventional adjustable mortgage (ARM)
|
- Loan modification,collection,foreclosure
|
|
Web |
Older American |
|
XXXX on XXXX/XXXX/2016 at XXXX which in that motion the Plaintiff submitted XXXX assignments of mortgage which XXXX of those assignments is a fraudulent assignment.
Penny Mac do not have legal capacity, legal authority, legal standing and legal rights. In the motion on XXXX XXXX ,2016 the motion was denied by the court.
The financial institutions there is not in title too collect the debt. This institution is of inviolatation of the FCRA/FDPCA.
|
| 05/17/2023 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
|
|
I have made several attempts to call XXXX XXXX loans to discuss an error in their computing of my monthly payments. Instead of applying my payments to my monthy mortgage dues, they are applying my payments to the " principal '' and sending me late fees notices and non-payment letters. I have all payments on auto-pay and therefore there shouldn't be a problem at all. The agent yesterday simply hung up on me because is was too difficult to manage.
|
| 07/10/2015 |
Yes |
|
- Settlement process and costs
|
|
Web |
|
|
Various attorneys continue to claim a mortgage in my deceased father 's name. There is no such debt and they have no claim. This fraud loan with PennyMac must be on XXXX of your databases somewhere, these attorneys make assumptions and start moving to foreclose. One office XXXX ( XXXX XXXX XXXX XXXX filed a trustee sale on my home XXXX months ago acting as a Bank, Beneficiary, and Trustee. This has to stop, I need your office to stop this fraud.
|
| 07/13/2023 |
Yes |
|
- Incorrect information on your report
- Account status incorrect
|
|
Web |
|
|
they are reporting my account late for the month XXXX and this is incorrect I have been going thru a hardship due to covid-19 and had already explained this to them and the hardship department at PennyMac told me this would not affect my credit. I have talked to fha who insures my home loan and they assured me that my account would remain current. I am in the process of refinancing my home loan and this late reporting is causing me a hardship.
|
| 09/20/2016 |
Yes |
|
- Loan modification,collection,foreclosure
|
|
Web |
Servicemember |
|
I am working on a short sale with Penny Mac. The loan is a VA Loan. A VA Appraisal was conducted and resulted in a appraisled value of {$300000.00}.
Penny Mac decided that the value " appeared '' to low and ordered a BPO. This BPO apparently resulted in a value of {$320000.00}.
My concern is that Penny Mac is not following VA Compromise Sale ( short sale ) rules.
How can Penny Mac deviate from the government rules of a VA guaranteed loan?
|
| 07/14/2023 |
Yes |
|
- Incorrect information on your report
- Account status incorrect
|
|
Web |
Servicemember |
|
From XXXX XXXX XX/XX/2023 my PennyMac mortgage account was reported as a late payment when the loan was in a modification status. Upon approval of the modification a silent second was used to make the account current and the credit report was not updated. The mortgage account was closed with a full payment of the loan on XX/XX/2023. This dispute is to have the late payments corrected to current with a note of loan in modification status.
|
| 01/26/2021 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
|
- Incorrect information on your report
- Old information reappears or never goes away
|
|
Web |
|
|
I called XXXX XXXX, and PennyMac my lenders for my my mortgages asking for a forgiveness. I was in a really bad spot for about 2 years and got behind on my mortgage. I paid everything up and is current now. Could they please forgive me on some of my late payments since they are caught up now. This is hurting my score tremendously and Im trying to get credit now and I cant. Please review my payment history. Im begging for a second chance.
|
| 04/27/2020 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
|
|
Was charged late Fee of {$100.00} Unfairly, Under COVID 19, where the government advice that we may hold the mortgage. also i was refinancing the loan with the Bank.
with all the issues going on Penny Mac insisted to charge late Fee they Got paid twice but 3 days late and they holding my money for 20 days as per the bank rule. customer service is not willing to help giving COVID19 hardship where some tenants couldn't make full payments.
|
| 10/29/2017 |
Yes |
|
- Trouble during payment process
|
|
Web |
Servicemember |
|
Loan xxxxxxxxx. I am a XXXX XXXX XXXX military veteran.
Texas and XXXX XXXX provide a tax benefit to veterans on their home, homestead, etc. My loan was acquired by pennymac around XXXX XXXX. I have been fighting with them since then to add my exemption around XXXX. Ever since XXXX has taken the loan I have been unable to get the exemption and XXXX has now sent me a letter saying that my escrow is low and they want more money from me.
|
| 06/06/2017 |
Yes |
|
- Trouble during payment process
|
|
Web |
|
|
I was shocked when I reviewed my credit report and found late payment on the dates below : 30 days past due as of XXXX XXXX , XXXX XXXX , XXXX XXXX , XXXX XXXX , XXXX XXXX , XXXX XXXX to XXXX XXXX , XXXX XXXX , XXXX XXXX to XXXX XXXX I am not sure how this happened, I believe that I had made my payments to you when I received my statements. My only thought is that my monthly statement did not get to me.
|
| 07/25/2016 |
Yes |
- Mortgage
- Conventional adjustable mortgage (ARM)
|
- Loan modification,collection,foreclosure
|
|
Web |
|
|
Penny Mac was sent a Notice of Error and Request for Postponement of Foreclosure Sale for XXXX XXXX. The Notice of Error advised PennyMac that it had failed to send XXXX XXXX the required Post Foreclosure Referral Notice and had failed to provide XXXX XXXX with a proper loan modification review. The Notice requested postponement of the foreclosure sale to complete said loan modification review. PennyMac is proceeding with foreclosure.
|
| 11/20/2015 |
Yes |
- Mortgage
- Conventional fixed mortgage
|
- Loan servicing, payments, escrow account
|
|
Web |
|
|
I was approved for a Loan Modification fixed rate for ear term, effective XX/XX/XXXX. My pmt changes monthly and their web portal says I have an ARM that will change XX/XX/XXXX. I sent in a message with a copy of the Loan Mod asking for the correction and why I was being charged monthly for foreclosure fees. They replied it is an ARM with a change date of XX/XX/XXXX. Never answered my other question or looked at the Loan Modification.
|
| 11/07/2015 |
Yes |
- Mortgage
- Conventional fixed mortgage
|
- Application, originator, mortgage broker
|
|
Web |
Older American |
|
When I established my mortgage loan with Pennymac, I was told that the PMI that was on the original loan would be dropped. As I look at the loan that was underwritten by Pennymac, I see that there is still PMI on my loan. This was promised to me by your organization.
I want the PMI dropped, to disappear, to go away. My credit score is very high. I will refinance with someone else if you ca n't make this happen.
Thank you, XXXX XXXX
|
| 08/10/2023 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
|
- Improper use of your report
- Reporting company used your report improperly
|
|
Web |
Servicemember |
|
In accordance with the fair credit Reporting act Pennymac LOAN - XXXX, has violated my rights.
15 USC 1681 Section 602 States I have the right to privacy.
15 USC 1681 Section 604 A Section 2 : It also states a consumer reporting agency can not furnish a account without my written instructions.
15 USC 1666B : A creditor may not treat a payment on a credit card account under ant open end consumer credit plan as late for Any purpose
|
| 11/22/2017 |
Yes |
|
- Trouble during payment process
|
|
Web |
|
|
The lender PennyMac increased the escrow account by {$480.00} monthly from {$490.00} to {$980.00} stating that we were behind for the last 12 months.
According to the property taxes of {$3900.00} and property insurance of the {$2400.00} the normal monthly escrow should be {$6300.00} divided into 12 months it would be {$530.00}.
Therefore, that huge incremental is impossible for us to pay and unreasonable under any circumstances.
|
| 11/08/2023 |
Yes |
- Credit reporting or other personal consumer reports
- Credit reporting
|
- Improper use of your report
- Reporting company used your report improperly
|
|
Web |
Servicemember |
|
in accordance with the Fair Credit Reporting Act this creditor has violated my rights under 15 USC 1681 section 6 o 2 states I have the right to privacy ( 15 USC 1681 ( section 6 0 4 a section 2 ( it also states a consumer reporting agency can not furnish an account without my written instructions under 15 USCS 1666b a creditor may not treat a payment on a credit card account under an open end consumer credit as late for any reason
|
| 12/09/2022 |
Yes |
|
- Improper use of your report
- Reporting company used your report improperly
|
|
Web |
|
|
In accordance with the fair credit reporting act XXXX XXXX XXXX XXXX XXXX has violated my rights 15 USC 1681 Section 602 states I have a right to privacy 15 USC 1681 Section 604 A section 2 : It also states a consumer reporting agency can not furnish an account without my written instructions.
15 USC 1666B : A creditor may not treat a payment on a credit card account under an open end consumer credit plan as late for any purpose.
|
| 04/13/2022 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
|
|
they call me at least twice a week To try to get me to refinance my house I explain to them I dont wan na refinance and can you please stop calling me.Every month when its time for me to pay my mortgage they transfer me to a sales person instead of letting me do it through the automation system, every month it makes me reset my password on the online app just so that I have called them so that they can try to sell me to refinance.
|
| 08/13/2019 |
Yes |
- Mortgage
- Conventional home mortgage
|
|
|
Web |
|
|
On XX/XX/XXXX Penny Mac Holdings, LLC, And PennyMac loan services transferred my loan to XXXX XXXX XXXX WITHOUT LEGAL STANDING, BECAUSE ONXX/XX/XXXX, the Judge For the Ninth Judicial Court DENIED A ORDER SUBSTITUTING PARTY PLAINTIFF, AND THE COURT HAVING REVIEWED THE FILE AND BEING OTHERWISE DULY ADVISED IT IS THEREUPON, ORDERED AND ADJUDGED : THE PLAINTIFFS MOTION TO SUBSTITUTE PARTY PLAINTIFF IS HEREBY DENIED ( SEE ATTACHMENT ).
|
| 04/18/2019 |
Yes |
|
- Trouble during payment process
|
|
Web |
|
|
My lender penny mac failed to pay insurance from my inpound account .the insurance was then canceld .they told me they sent letters i do not recall seeing any or i would have responed .the lender placed there own insurance .califorina civil code 2954.1 states they have to pay insurance and taxes on time .the lender is now saying the inpound account is over drown by XXXX and i need to pay it back ... please any help would be great.
|
| 11/07/2023 |
Yes |
|
- Struggling to pay mortgage
- Foreclosure
|
|
Web |
|
|
Sent papers showing my dad XXXX XXXX property was in my name now to get mortgage assumption / mortgage assistance. Mortgage assistance application with my financials were sent to mortgage company. They are giving me a hard time with my request. They always tell me the file is in research and the file has not been updated with my documents. I don't want to lose the property to foreclosure because they are giving me the run around.
|
| 07/16/2023 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
|
- Improper use of your report
- Reporting company used your report improperly
|
|
Web |
|
|
In accordance with the Fair Credit Reporting Act, this creditor has violated my rights under 15 USC 1681 Section 602 States I have the right to privacy.
15 USC 1681 Section 604 A Section 2 : It also states a consumer reporting agency can not furnish a account without my written instructions.
15 USC 1666B : A creditor may not treat a payment on a credit card account under a open end consumer credit plan as late for any purpose.
|
| 11/07/2019 |
Yes |
|
- Trouble during payment process
|
|
Web |
Servicemember |
|
Pennymac USA has just imposed an arbitrary {$5.00} fee for payments made between the XXXX and the XXXX of the month. I believe this is a violation of the terms of the VA-backed mortgage contract which, of course, PennyMac bought the rights to service. Please investigate, and if I am correct and PennyMac is imposing an unlawful fee, take any and all punitive measures necessary to incentivize future compliance with contract terms.
|
| 09/14/2016 |
Yes |
- Mortgage
- Conventional adjustable mortgage (ARM)
|
- Credit decision / Underwriting
|
|
Web |
Older American |
|
This complaint it will be proof that PennyMac Holdings, LLC, never have legal standing, RIGTH, and legal capacity to enforce or collect funds-money from me related XXXX XXXX my property located in XXXX County Florida at XXXX XXXX XXXX XXXX, fl XXXX. The servicing of this loan was done in violation of that F.C.R.A and F.C.D.P.A and H.U.D.. OCC and many others agency in the federal level and State, including violated that T.C.P.A.
|
| 12/11/2023 |
Yes |
- Credit reporting or other personal consumer reports
- Credit reporting
|
- Incorrect information on your report
- Account status incorrect
|
|
Web |
Servicemember |
|
In accordance with the fair credit reporting act this creditor has violated my rights under 15 USC 1681 section 602 states I have the right to privacy 15 USC 1681 section 604a Section 2 it also states a consumer reporting agency can not furnish an account without my written instructions under 15 USC 1666-B a creditor may not treat a payment on a credit card account under an open end consumer credit plan as late for any purpose.
|
| 12/28/2016 |
Yes |
- Mortgage
- Conventional fixed mortgage
|
- Loan servicing, payments, escrow account
|
|
Web |
|
|
Based on the PennyMac response received on XXXX for case number XXXX, it looks like the bank sent my property tax payment to XXXX XXXX County instead of XXXX XXXX County. They need to confirm that the payment was sent to the correct county. Please investigate and let me know for sure when XXXX XXXX County received the payment. Again, I am not responsible for any late fees. PeenyMac should be responsible of the late fees if any.
|
| 01/18/2019 |
Yes |
- Mortgage
- Conventional home mortgage
|
|
|
Web |
|
|
I went through court ordered mediation in XX/XX/2013 with PennyMac. They approved the refinance but illegally added over {$6000.00} dollars in legal fees and sold off my account to XXXX. This has increased my monthly payments and the low finance rate they promised. This has affected the total amount owed and made my debt to income rate artificially higher. I want to request that a qualified written request be done immediately.
|
| 07/02/2019 |
Yes |
|
- Trouble during payment process
|
|
Web |
|
|
All documents have been sent to PennyMac loss draft department to release insurance check to repair home! Company refuse to release funds so contractors can fix home. I have payed out of my pocket to repair some repairs. I'm not able to live in home! Theres no kitchen! Roof needs repaired! I have been sleeping on someone else sofa! My insurance company verified check has been cashed and cleared. The home is at 50 % repaired!
|
| 08/15/2023 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
|
- Improper use of your report
- Reporting company used your report improperly
|
|
Web |
|
|
In XXXX with the fair credit reporting act XXXX XXXX XXXX has violated my rights.
15 USC 1681 Section 602 States that I have a right to privacy.
15 USC 1681 Section 604 A Section 2 : It also states that a consumer reporting agency can not furnish a account without my written instructions.
15 USC 1666B : A creditor may not treat a payment on a credit account under an open end consumer credit pan as late for any purpose.
|
| 11/16/2020 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
|
|
Pennymac Loan Services LLC recently purchased my mortgage. Payment is due in a few weeks, but I can not get details from Pennymac on how to submit payment to them. They have failed to send me these details. Pennymac 's call center is not adequately staffed, leading to hours of hold times. My Pennymac account does not reflect this mortgage. There has been a systematic failure by PennyMac to allow me to pay them per the note.
|
| 01/09/2023 |
Yes |
|
- Trouble during payment process
|
|
Web |
Servicemember |
|
PennyMac, my mortgage company, did not pay my hazard insurance policy. After making several calls to inform them that the policy was not being paid, they issued a payment on XX/XX/2022. The payment did not reach the Insurance company on time and my policy was cancelled. I am now responsible for getting a new policy. I would like to file a complaint to recover any and all penalties and fees I must pay to resolve this issue.
|
| 12/04/2019 |
Yes |
|
- Trouble during payment process
|
|
Web |
|
|
I paid my mortgage through XXXX 's website on XX/XX/XXXX. hey pulled the money twice out of my XXXX Bank account. They refunded the second payment, but then took the money out again 1 day later. It took hours of phone calls, including a conference call with XXXX, to finally get te double billing efundd on XX/XX/XXXX. They are now saying I am deliquent on my mortgage and they have not received any payment for XX/XX/XXXX!!!!
|
| 01/24/2019 |
Yes |
|
- Trouble during payment process
|
|
Web |
|
|
For the past two or three months, I have been charged a {$15.00} fee. There is no description or reason listed for the fee on the monthly statements. I reached out to PennyMac and XXXX claims that I was late on my mortgage in XX/XX/2018 and XX/XX/2018. I have NEVER been late on my mortgage. I was participating in a plan because of Hurricane Harvey and as a result, I should never have been charged any fees, penalties, etc.
|
| 07/19/2017 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
|
|
PennyMac services my loan and recently on the statement they have removed the PMI line item in the " transactions from last statement ''. I still pay for PMI and my full payment amount is the same. I just feel that they have changed the statement to hide the PMI charges. Why else would they remove the line item for " Mortgage Insurance Disbursement ''? I believe this to be unethical and misleading to customers. Thank you!
|
| 10/15/2020 |
Yes |
|
- Applying for a mortgage or refinancing an existing mortgage
|
|
Web |
|
|
I have been unable to get in touch with my mortgage company to ask about a streamline refinance for a new rate and also to remove my PMI. Everytime I call, I'm on hold for 45 minutes or more and have to hang up because I only have so much time on breaks from work to speak to them during business hours. I know these are two separate issues but I can not get a live person on the phone to address my questions about either.
|
| 08/06/2022 |
Yes |
|
- Incorrect information on your report
- Account status incorrect
|
|
Web |
Servicemember |
|
We had a mortgage takeover by a LLC that is responsible for paying a mortgage for a home they own and we do not pay for anymore. They fell behind on payments multiple times from XXXX to XXXX. So we had gotten paperwork for a foreclosure then the company finally decided to catch up on the payments but the damage to our credit was done by them not us and we want that corrected as it was not a direct result of our doing.
|
| 10/20/2021 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
|
|
I am XXXX XXXX XXXX and I am submitting this complaint myself and there is no third party involved. This account PENNYMAC LOAN SERVICES is reporting late ( XX/XX/2020 ) as reported in my 3 Credit Bureaus. Lets correct this immediately. The Bureaus are required to verify for themselves, but they failed to neither verify nor update me about these complaints. Please update or remove the late payments from this account.
|
| 12/27/2022 |
Yes |
|
- Trouble during payment process
|
|
Web |
Servicemember |
|
XXXX - XXXX I am approved for Mortgage assistance payments via Pennymac. They have been posting my payments late every month. However this month, no payment has been posted. XXXX has assured me that a payment was sent on XXXX and that Pennymac has already cashed the check. However, nothing has been posted to my account. I have been promised a call from someone in Pennymac XXXX department and no one has called yet!
|
| 09/02/2021 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Struggling to pay mortgage
|
|
Web |
|
|
Hardship Began in XX/XX/XXXX when i was laid off. applied for work but no employment. started a business and asked Pennymac for loan modification and was denied. The home was flooded. The home has flooded several time and in a flood zone. Applied for deed in lieu for mortgage company to take property back since im not being approved for a modification and they keep denying. Stay unemployed through XXXX due to XXXX.
|
| 11/14/2015 |
Yes |
- Mortgage
- Conventional fixed mortgage
|
- Loan servicing, payments, escrow account
|
|
Web |
|
|
Penny Mac consistently misapplies my payments. I generally pay more than the minimum. They apply it all to principal, add late fees, call me for payment, when the full amount+ is always sent in WAY before the due date. Then I have to spend too much time on the phone getting fees reversed and explaining to them how to apply the payment correctly. If it didn ; t cost me money, I would switch companies in a heartbeat.
|
| 10/21/2020 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Incorrect information on your report
- Account status incorrect
|
|
Web |
|
|
The following company had a mortgage on my home PNMAC XXXX I have the following late payment dates on my report : XXXX, XXXX, this was supposed to be under forbearance due to Coronavirus. I have health issues that prevented me from working as I would be considered very high risk. I called them and they could not help me.
I can prove if need to be the health issues Had and still have as I'm fighting through them.
|
| 12/28/2020 |
Yes |
|
|
|
Web |
Servicemember |
|
Property was sold and closing occurred on XX/XX/2020. Final Payment of loan balance was paid to PennyMac on XX/XX/2020. PennyMac has not issued a check for a refund of escrow account. I have contacted PennyMac customer service 3 times, and in all occasions I was informed that a check would be sent on that same day ( meaning previous phone calls never triggered a check to be sent out ).
I have run out of options.
|
| 08/13/2020 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
|
|
I overpaid my mortgage bill, should go towards principle, and that amount is not being credited towards my principle balance. Therefore the lender gets to charge interest on the outstanding principle, without regard to the principle-payment I made. They are placing that over-payment in 'Suspense ' account. They said they can keep those funds in 'Suspense ' for up to 15 days, and charge interest for those 15 days.
|
| 03/30/2016 |
Yes |
- Mortgage
- Conventional fixed mortgage
|
- Loan servicing, payments, escrow account
|
|
Web |
|
|
I filed an insurance claim. My insurance company promptly issued me a check and included my mortgage company. I got estimates, had the work completed, got an inspection that it was done. My mortgage company. Pennymac, is not releasing the funds to pay off the contractor. My mortgage company keeps sending me random forms that I already completed to be notarized and each time I call they give me a different excuse.
|
| 11/15/2022 |
Yes |
- Mortgage
- Home equity loan or line of credit (HELOC)
|
- Trouble during payment process
|
|
Web |
Servicemember |
|
Roughly once every two weeks, a representative from PennyMac Financial Services, whom I have a HELOC with, calls and gives me a sales pitch on why I should refinance my home mortgage ( held with another company ). I've repeatedly told them to stop asking me to refinance my 3.00 % mortgage when the prime rate is currently 7.00 %, and they have failed to remove me from their calling list for over three months now.
|
| 10/19/2022 |
Yes |
|
- Trouble during payment process
|
|
Web |
|
|
PennyMac has lied, I asked for copies of the documents they mailed to me and I havent received them. They also need to address why they didnt pay the same policy that I have had for the past three or four years with the primary policy holder being XXXX XXXX this issue hasnt happened previously and now you want to force place me! I demand my insurance with my prefer carrier be reinstated and you remove your fees!
|
| 04/19/2022 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
|
- Problem with a credit reporting company's investigation into an existing problem
- Their investigation did not fix an error on your report
|
|
Web |
|
|
Penny Mac reported to the credit bureau that my mortgage had many months of missed payments along with my loan not being payed off. This has become an issue in my new loan for another home. As this loan is payed off and penny Mac said I made all payments. Called pennymac multiple times to get a letter and they can not fix it. They said they would call credit Bureau however did not update me with any information.
|
| 10/02/2018 |
Yes |
|
- Trouble during payment process
|
|
Web |
|
|
Notice of Error pursuant to 12 CFR 1024.35 ( a ). PennyMac Loan Services has failed to provide the following : 1. Short year statement under 12 CFR 1024.17 ( i ) ( 4 ) 2. Disclosure Statements under 12 CFR 1024.32 ( a ) 3. Return of Credit under 12 CFR 1024.34 4. Failure to pay taxes by the due date, as required by 12 CFR 1024.34 ( a ), which are now due 5. Notice of Sale of mortgage was not provided by XXXX
|
| 11/02/2023 |
Yes |
- Credit reporting or other personal consumer reports
- Credit reporting
|
- Improper use of your report
- Reporting company used your report improperly
|
|
Web |
|
|
On or about XX/XX/2023 I requested documentation to establish a clear legal or equitable right to make a claim on account they are reporting on my consumer report and requesting claim for acct XXXX XXXX XXXX XXXX XXXXXXXX, XXXX XXXX, PennyMac Holdings XXXX XXXX This isn't the first or 2nd time, that the request for these documents from these corporations and they keeps reporting improper on my consumer report
|
| 11/05/2020 |
Yes |
- Mortgage
- Conventional home mortgage
|
|
|
Web |
|
|
I initiated the process to refinance my mortgage with the existing servicer, Pennymac. They have not communicated with me in many days -- weeks, even -- and my repeated email inquiries requesting an update, such as information about closing on the loan, have gone unanswered. I fear they are trying some sort of trick to delay my closing in order to exceed the lock period and thereby deny me the promised rate.
|
| 02/02/2023 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
|
|
My mortgage company keeps buying insurance on my behalf even though they have a copy of my insurance documents. I have called and fixed the problem about 5 times in the last two years but every few months they purchase insurance on my behalf and automatically withdraw and extra {$400.00} in automatic payments. They owe me almost {$1000.00} and it takes about 1.5 hours to get someone on the phone every time.
|
| 09/09/2016 |
Yes |
- Mortgage
- Conventional fixed mortgage
|
- Loan servicing, payments, escrow account
|
|
Web |
|
|
My new mortgage company, Penny Mac, misplaced many of my mortgage monthly payments. The payments were placed onto my mortgage escrow account instead. It took countless effort from my part to finally have Penny Mac acknowledge their mistakes. Penny Mac fixed the mistakes made to my account, however, they reported me late to the credit bureaus and have not taken action to correct this matter with the bureaus.
|
| 12/04/2023 |
Yes |
- Credit reporting or other personal consumer reports
- Credit reporting
|
- Improper use of your report
- Reporting company used your report improperly
|
|
Web |
|
|
In accordance with the fair credit and reporting act this creditor had violated my rights under 15 usc 1681 section six to state I have the right to privacy. It also states a consumer reporting agency can not furnish and account without my written instructions under 15 uscs 1666b a creditor may not treat a late payment on a credit card account under an open end consumer credit plan as late for any purpose.
|
| 10/25/2019 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
|
- Incorrect information on your report
- Account information incorrect
|
|
Web |
|
|
PNMAC MTG is reporting an incorrect late on my credit file or XX/XX/2019. I have NEVER been late on this account. I always make my payments online and thought it went through as usual. Later I noticed I was late and made the payment right away. I should have never been late, their was money in my account and the payment should have gone through. This is not my fault. I have never had a late on my accounts.
|
| 02/28/2021 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
Older American |
|
In XXXX XXXX I talked to 2 PennyMac Customer Service agents and they both said they could not change the mailing address to what I need.
When I informed the second agent that I was unable to set up an online account without submitting my cell number and consenting to be spammed, she asked if I could submit an email address instead. I said that was not possible.
I have hit a dead end with the company.
|
| 01/27/2020 |
Yes |
|
- Trouble during payment process
|
|
Web |
|
|
repeated request to remove pMI from my mortgage payment.
keep delaying the process.
Finally receive the letter, dated XX/XX/2020, from pennymac stating that PMI has been removed on XX/XX/2020. However, the online payment page on PennyMac website is not updated, dated XX/XX/2020, and my mortgage payment for XXXX is due. I do not want to pay the penalty or the PMI which Pennymac stated has been removed.
|
| 09/15/2017 |
Yes |
|
- Trouble during payment process
|
|
Web |
|
|
Penny Mac had a website with an invalid security certificate, exposing customer social security numbers to theft, fraud, phishing, and interception every time they log in. They ignore complaints and refuse to update their website security and are recklessly exposing customers to identify theft. I want them prosecuted or sued for malfeasance and gross negligence leading to violations of consumer privacy.
|
| 08/12/2020 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
|
- Incorrect information on your report
- Account status incorrect
|
|
Web |
|
|
I have contacted PennyMac numerous times regarding my account and continue to experience credit reporting issues.
I recently received a credit alert suggesting PennyMac reported my account 30 days delinquent. Notably, I have been on a forbearance plan since the onset of COVID-19. Please see the attached confirmation letter from PennyMac confirming the extension of my forbearance plan thru XX/XX/2020.
|
| 08/04/2023 |
Yes |
|
- Trouble during payment process
|
|
Web |
Servicemember |
|
I was recently, in the last month emailed, that my monthly payment would be going up {$100.00} more per month to compensate for the additional {$490.00} difference in my insurance and taxes ( escrow ). I was also told that they had to double it because the previous year wasnt taken out enough then either. So due to their mistake, Im being charged an additional {$100.00} more per month for my mortgage.
|
| 02/17/2019 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Incorrect information on your report
- Information belongs to someone else
|
|
Web |
|
|
Pennymac loan services is reporting that I have an almost {$300000.00} mortgage loan. I do not, that is my ex-husband and new wife 's house now. My name is showing in loan ex said he called a few months ago when I noticed this error and said company would take care of it. It's still showing in my credit report how do I find out if he somehow kept my name on their house and how do I get this resolved?
|
| 09/01/2021 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Problem with a credit reporting company's investigation into an existing problem
- Investigation took more than 30 days
|
|
Web |
|
|
This is XXXX XXXX XXXX, who is submitting this CFPB complaint myself and to inform you that there is no third party involve in the process.
This item is reporting late, yet it is closed and the balance is XXXX as reported in my 3 Credit Bureaus. Lets correct this immediately. The Bureaus are required to verify for themselves, but they failed to neither verify nor update me about these complaints.
|
| 01/07/2020 |
Yes |
|
- Struggling to pay mortgage
|
|
Web |
|
|
Been faxing paperwork, my cousin helped me fill out! 8th time on phone, called XX/XX/XXXX had to give information over phone, said approved fax papework which i had already, then send package going out, ( SEE PROOF ) then on XX/XX/XXXX was a sale!!!!!!!!!!!! IS AN FHA LOAN! I did what i was supposed to, now called today XX/XX/XXXX said denied due to sale PENNY MAC IS A LIAR been faxing paperwork!
|
| 06/08/2018 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
|
- Problem with a credit reporting company's investigation into an existing problem
- Investigation took more than 30 days
|
|
Web |
|
|
I was shocked when I reviewed my credit report and found late payment on the dates below : XX/XX/XXXX - XX/XX/XXXX - 60, 60, 30 days late XX/XX/XXXX - XX/XX/XXXX - 4x 30 days, 1x 60 days late PENNYMAC LOAN SERVIC Acct # : XXXX I am not sure how this happened, I believe that I had made my payments to you when I received my statements. My only thought is that my monthly statement did not get to me.
|
| 07/01/2020 |
Yes |
- Mortgage
- Other type of mortgage
|
|
|
Web |
|
|
PENNY MAC MORTGAGE, IS PUSHING FURTHER AND FURTHER, to scam me to a high rate, i have been trying to Refinance my loan to a lower interest rate and PENNY MAC IS PUTTING EXCUSES to closed the loan when all document were submitted 3 weeks and no futher document were request, and continue to push the loan futher to XX/XX/21, there scamming me to the higher rate and losing money that there scamming
|
| 06/23/2016 |
Yes |
- Mortgage
- Conventional fixed mortgage
|
- Loan servicing, payments, escrow account
|
|
Web |
|
|
I am disputing the current Principal Balance due on my Mortgage with PennyMac. They claim it is {$9700.00}. The correct amount is {$8600.00}. I am also disputing the XX/XX/XXXX Principal and Interest breakdown on my current bill. They did not apply a Principle Reduction Payment correctly in XX/XX/XXXX and are using illegal accounting practices to pretend the payment did not exist for 40 days.
|
| 04/12/2017 |
Yes |
|
- Loan modification,collection,foreclosure
|
|
Web |
|
|
I have a mortgage with Penny Mac. My husband lost his job. We requested a hardship loan modification over three months ago. They stated that they are processing it. We are worried because we are not hearing anything from them. XXXX They are still taking the payment out of my account, yet they are reporting us late on our credit file. I do n't know where else to turn. Can you please help us
|
| 12/12/2016 |
Yes |
- Mortgage
- Conventional fixed mortgage
|
- Loan modification,collection,foreclosure
|
|
Web |
|
|
My house is in escrow and also up for auction by PennyMac. The bank has been unwilling to allow an extension since the house is scheduled to close five days past auction date. We are seeking payoff instructions but the bank has been unwilling to provide. I 've called daily and provided all necessary supporting documents. PennyMac has not provided any assistance to help us resolve the loan.
|
| 01/14/2016 |
Yes |
|
- Loan servicing, payments, escrow account
|
|
Web |
Servicemember |
|
We refinanced our home on XX/XX/2013 and reduced our payment to {$1400.00} per month.
But after a couple of.months the lender is sending bills for XXXX.
They are adding another another item.colled.other fee and collecting un authorised money from us.
We called the customer care.
They told me If I am not.paying it they may forclose me.
I am XXXX and surviving with XXXX small. children
|
| 09/28/2015 |
Yes |
|
- Loan servicing, payments, escrow account
|
|
Web |
Older American |
|
Bank XXXX XXXX was charging us {$49.00} late fee then XX/XX/XXXX drop our late fee to $ XXXX.PennyMac bought our loan in XX/XX/XXXX.We contacted them because they sent us a payment showing we will be charge {$49.00} late fee we send them paper work to show that we have been charge any late fee of that amount since XX/XX/XXXX.But they are saying it will be {$49.00} late fee no matter what.
|
| 06/19/2023 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
Older American |
|
I was sent a letter stating that I did not have sufficient flood insurance but my loan servicer, Pennymac. I submitted documents that showed I did have the the proper insurance and they are billing me through some insurance company they hired.
No response from the company. They are difficult to deal with. Have have poor customer service. I am sure you have heard this before about them.
|
| 03/16/2021 |
Yes |
|
- Applying for a mortgage or refinancing an existing mortgage
|
|
Web |
|
|
I applied for refinancing of mortgage loan with PennyMac Loan Services , LLC and got approved for the loan. However, the lender decided to reject my loan since I am not a permanent resident in US. And, I am legal in XXXX and do have SSN, valid US Driver license, and EAD ( employment authorization card ). Can lender reject my loan application because of my nationality or residency status?
|
| 03/01/2021 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
|
|
My servicing company PennyMac collected an escrow payment from me, and was supposed to adjust my mortgage. Additionally, I continue to receive notices from my insurance company suggesting my home insurance hasnt been paid. At a minimum now the effective dates are different, but PennyMac is unreachable.
Even after staying on hold for 30 minutes at a time, they simply disconnect my calls.
|
| 10/15/2020 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
|
|
I sent a payment to my mortgage company and they applied to principal instead of a regular payment. This made my escrow short and no payment was applied to principal or interest. They are now claiming it is late and threatening a late fee. I talked to XXXX at PennyMac.
They claim payment amount increased, but they never notified me. Thy stopped sending mortgage statements inXX/XX/2020.
|
| 04/29/2021 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
|
|
Pennymac loan services consistently misapplies my payments leading to calls from debt collectors who have told me on multiple occasions not to change my payment frequency ( twice monthly ). I pay a little over half of my payment twice a month to align with my regular paycheck. They continually misapply the payment and then hound me. They are the worst mortgage company I have ever had.
|
| 02/16/2023 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
|
- Incorrect information on your report
- Information belongs to someone else
|
|
Web |
Servicemember |
|
The paperwork that has been allegedly sent has been abandoned and erroneously filed by Pennymac and veteran home loans. I XXXX XXXX have not received any notices. And due to my XXXX of not being able to adequately communicate in legal jargon I believe the ADA needs to be alerted for taking advantage of a disable person and veteran. I will also file a complaint with TIGTA and the FTC.
|
| 02/16/2023 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
|
- Incorrect information on your report
- Account information incorrect
|
|
Web |
Servicemember |
|
PennyMac reported my Mortgage Late for three months and it was only late for two months. They paid the wrong Home Owners Insurance Company so my homeowners insurance was not active prior to XXXX XXXX XXXX. They are always reporting the wrong amount on my statements and on the credit bureaus and my XXXX Score went down over 50 points because of their reporting the wrong information.
|
| 11/12/2019 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
Older American |
|
I submitted a very large payment to Pennymac by overnight mail. The tracking indicates it was received on XX/XX/19 at XXXX XX/XX/XXXXand signed for. Now it is 5 days later and they tell me they can't find the payment and that I should give them another 5 days to locate it. The payment was a VERY large amount, paid to their billing address with a cashiers check made out to Pennymac.
|
| 03/13/2023 |
Yes |
|
|
|
Web |
Servicemember |
|
My mortgage company PENNY MAC agreed to the short sell of my property. After two months of going back and forth with my realtor and the buyers title company the short sell went through, PENNY MAC still maintains that they have the right to keep insurance claim 2 party checks that they held in an escrow account. They have no legal right to that money, they agreed to the short sell.
|
| 04/21/2020 |
Yes |
|
- Trouble during payment process
|
|
Web |
Servicemember |
|
Im am a XXXX XXXX XXXX XXXX XXXX vet. I applied to have my mortgage payment changed due to being exempt from property taxes in The state of Texas. I have filed my XXXX with the State of Texas and have the approved exemption. My mortgage company Pennymac is still placing money in my escrow for Taxes. I called to have this fixed and they would only recognize a 50 percent exemption.
|
| 08/02/2023 |
Yes |
|
- Applying for a mortgage or refinancing an existing mortgage
|
|
Web |
|
|
PLEASE SEE ATTACHED NOTICE OF ALLEGED BILLING ERRORDISPUTE, PAYEE IDENTIFICATION DISCREPANCIES, AND REQUEST FOR CLARIFICATION OF CONSUMER CREDIT REPORTING AGENCIES TRADELINES IN CONNECTION WITH CONSUMER [ NONBANK ] MORTGAGE LOAN ACCOUNT NOS. : XXXX AND XXXX, INSURED BY THE UNITED STATES FEDERAL GOVERNMENT [ AGENCY CASE NUMBER : XXXX AND RECEIVABLES. XXXX XXXX XXXX XXXX XX/XX/2023
|
| 08/02/2023 |
Yes |
|
- Applying for a mortgage or refinancing an existing mortgage
|
|
Web |
|
|
PLEASE SEE ATTACHED NOTICE OF ALLEGED BILLING ERRORDISPUTE, PAYEE IDENTIFICATION DISCREPANCIES, AND REQUEST FOR CLARIFICATION OF CONSUMER CREDIT REPORTING AGENCIES TRADELINES IN CONNECTION WITH CONSUMER [ NONBANK ] MORTGAGE LOAN ACCOUNT NOS. : XXXX AND XXXX, INSURED BY THE UNITED STATES FEDERAL GOVERNMENT [ AGENCY CASE NUMBER : XXXX AND RECEIVABLES. XXXX XXXX XXXX XXXX XX/XX/2023
|
| 08/21/2019 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
|
|
I purchased a property on XXXX. My mortgage was sold in XXXX to PennyMac ; from XXXX XXXX ( original mortgage ). I have a spreadsheet of all my payments to both mortgage companies. I believe PennyMac added almost {$500.00} to my principal in the purchase of this mortgage. I have called PennyMac twice to sort this out and they claim all is accurate. I can enclose all my records.
|
| 07/22/2019 |
Yes |
|
- Applying for a mortgage or refinancing an existing mortgage
|
|
Web |
Servicemember |
|
I have had an FHA loan with pennymac for 6 years. All payments have been made on time and every single payment has been accompanied by an EXTRA sum to go to principle. I pay over XXXX dollars a month pmi. They will NOT give me a refill. They say my credit score is XXXX. It is not. It is XXXX. They say I have debt. I do not!!!!
They have lied to me and discriminated against me.
|
| 02/23/2023 |
Yes |
|
- Struggling to pay mortgage
|
|
Web |
|
|
After numerous calls requesting a payment plan the representatives continue to try to push me towards a modification which would have increased my interest rate significantly. Finally a representative spoke to an underwriter to provide me with a payment plan. The company gave me a repayment plan that exceeded my monthly income making it impossible for me to make the payments.
|
| 02/02/2020 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
|
- Problem with a credit reporting company's investigation into an existing problem
- Their investigation did not fix an error on your report
|
|
Web |
|
|
I am not sure how this happened, I believe that I had made my payments to you when I received my statements. My only thought is that my monthly statement did not get to me, or the payment was not applied as fast as expected. I check my bank account and noticed that you deducted the money out of my checking account that on the month that you marked me late on my credit report.
|
| 10/18/2022 |
Yes |
|
- Trouble during payment process
|
|
Web |
|
|
In XXXX of 2022, I was awarded {$40000.00} from the Texas XXXX XXXX to be applied directly to my mortgage with Penny Mac. This award was based on my application with this organization and the death of my husband in XX/XX/2022 as a direct result of the XXXX. On XX/XX/2022, Penny Mac RETURNED the {$40000.00} award to the Texas XXXX XXXX with no explanation or notice to me.
|
| 05/15/2021 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
|
- Problem with a credit reporting company's investigation into an existing problem
- Their investigation did not fix an error on your report
|
|
Web |
|
|
Hello, I was affected by the worldwide pandemic and I filed for a pandemic deferment with my mortgage company PENNYMAC LOAN SERVICES L for XX/XX/2020 and for XX/XX/2020. My deferments were approved by my lender however the payments for XX/XX/2020 and XX/XX/2020 are being reported late which is severely affecting my credit score with all three major bureaus. Please help!
|
| 11/13/2021 |
Yes |
- Vehicle loan or lease
- Loan
|
- Problem with a credit reporting company's investigation into an existing problem
- Investigation took more than 30 days
|
|
Web |
|
|
My name is XXXX XXXX and I am sending this request myself to address the inaccuracies on my Credit Reports.
PENNYMAC is reporting late, yet it is closed and the balance is XXXX as reported in my XXXX Credit Bureau. Lets correct this immediately. The Bureaus are required to verify for themselves, but they failed to neither verify nor update me about these complaints.
|
| 02/24/2022 |
Yes |
|
- Trouble during payment process
|
|
Web |
Servicemember |
|
XXXX XXXX kicked me off my portal because I switched my email and making it impossible for me to get access, I have a XXXX and my only way to check in on my extending my forbearance THE IGNORANT LADY WAS ASKING A-LOT OF PERSONAL INFORMATION AND ASKING TO GUESS AT EVERYTHING I have requested to reset my portal there tactics and question are against most banking rules
|
| 06/12/2018 |
Yes |
- Money transfer, virtual currency, or money service
- Domestic (US) money transfer
|
- Other transaction problem
|
|
Web |
|
|
We received an insurance claim check from our homeowners insurance to repair our roof. Our mortgage company Pennymac Loans will not endorse and release our claim check, while our roof is literally falling down around us. Ours is not an isolated incident. Pennymac is notorious for this practice. Class action lawsuits have been filed against Pennymac for this reason.
|
| 12/14/2020 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
|
|
I have a 30 year fixed mortgage backed by XXXX XXXX with XXXX, Loan Number XXXX. I always pay on time, before the XXXX of each month. Recently, I have been charged a " convenience fee '' if payment is made between the XXXX and the XXXX of the month the payment is due, despite its timely payment for the month.
I believe that this is an illegal fee. XXXX XXXX XXXX
|
| 11/21/2021 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
|
|
I received a notice from my mortgage company that I didn't have a homeowners policy in force. I responded with the attached letter dated XX/XX/2021.
I recently received a notice from the insurance company that the insurance hasn't been paid and offered a payment plan ( see attached ) I also have attached the proof that Penny Mac has collected thousands from us.
|
| 11/03/2015 |
Yes |
- Mortgage
- Conventional fixed mortgage
|
- Loan modification,collection,foreclosure
|
|
Web |
|
|
PennyMac received all my completed documentation package prior to 37 days window of foreclosure. They are dual tracking! Declined Buyer offer without counter and continue to process foreclosure. Buyer in good faith has raised offer. PennyMac Buyer offer is very close to XXXX price. PennyMac to put simply is dual tracking and fails to negotiate in good faith ....
|
| 10/04/2022 |
Yes |
|
- Trouble during payment process
|
|
Web |
|
|
I have my home owners ins paid via PennyMac they did not pay it and have force placed my ins! The bill was sent to them and I have attempted to settle this with them and I havent received an outcome! They need to pay my ins backdate from exp date and pay the ins any late fees out out of their pockets! Not once did they notify me about my ins or force placement!
|
| 05/23/2017 |
Yes |
|
- Trouble during payment process
|
|
Web |
|
|
On XXXX XXXX 2017 I c all ed PennyMac an d was given an amount of all monies that were in arrears {$7000.00}. This was paid by check on XXXX XXXX 2017. The y did not cash check f or 2 we eks. This month I get a bill saying I have {$130.00} in late fees added to ballance. If account was at XXXX , with no payments due, then how do I owe 'late fees '.
|
| 07/29/2016 |
Yes |
|
- Loan servicing, payments, escrow account
|
|
Web |
|
|
Penny mac mortgage is deliberately holding onto an insurance draft check for XXXX + even after 3 weeks ago their own inspector inspected the work, certified it was complete, and sent that info to the lender. I have already incurred the cost of my own repairs and would like my money back. when i call they keep giving me the run around about timelines and such.
|
| 06/08/2021 |
Yes |
- Debt collection
- Mortgage debt
|
- Communication tactics
- Used obscene, profane, or other abusive language
|
|
Web |
Servicemember |
|
XX/XX/XXXX and XX/XX/XXXX PennyMac Loan services alleged that I was late on my mortgage payment for the amount of {$3000.00} a month. I have asked PennyMac Loan services to please validate the debt, so I can put this discrepancy to rest. Pursuant Violations 15 USC 1692g, 15 USC 1692f ( 1 ) ( 8 ), 15 USC 1692a, 15 USC 1692d ( 2 ) and 15 USC 1692e ( 2 ) ( a ).
|
| 02/15/2019 |
Yes |
|
- Trouble during payment process
|
|
Web |
Older American, Servicemember |
|
I have been trying since XXXX XXXX, 2019 to get the second disbursement of my NFIP flood claim funds. My contractor is out of money and we are trying to get back in our home which was destroyed by Hurricane Florence.
My loan number is XXXX and tracking number XXXX.
The company is PennyMac, XXXX XXXX XXXX, XXXX XXXX, Ca.
XXXX and XXXX www.pennymacusa.com
|
| 09/05/2020 |
Yes |
|
- Applying for a mortgage or refinancing an existing mortgage
|
|
Web |
Servicemember |
|
Loan # XXXX XXXX attempt at resolution.
I was denied a va cash out refinance on the basis that I did not meet the Va occupancy requirement. my ID & bills have the address in question on it. The loan number in question is XXXX. The address is XXXX XXXX XXXX, XXXX Ga XXXX. I have attached a copy of my ID, water, & electricity bills to verify my residency.
|
| 08/25/2017 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
|
|
I have a mortgage with Pennymac that has PMI that I am trying to remove. The estimated time to completion was 15-20 business days according to their customer service. It has been 26 business days and counting. This is not acceptable to be almost double the estimate with no end in sight. Their delay is costing me money and they are in no hurry to fix this.
|
| 12/27/2022 |
Yes |
|
- Struggling to pay mortgage
|
|
Web |
|
|
Ive been receiving assistance every month with the state of XXXX haf dept for Mortgage payments and for the month of XXXX I havent received a payment my case number is XXXX Ive been calling the XXXX number and all they are saying the payment has been sent and XX/XX/XXXX and XXXX XXXX havent received anything for the month of XXXX! XXXX XXXX my name XXXX
|
| 10/26/2016 |
Yes |
- Mortgage
- Conventional fixed mortgage
|
- Loan servicing, payments, escrow account
|
|
Web |
|
|
I Initially contacted PennyMac to terminate my PMI. They are stating they requiring an appraisal even though, from what I understand, if my loan reaches XXXX % of the original appraised property value, they need to terminate immediately. My loan is currently ~XXXX % of the originally appraised value.
They have not responded to me pointing out this law.
|
| 07/21/2023 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
|
- Problem with a credit reporting company's investigation into an existing problem
- Their investigation did not fix an error on your report
|
|
Web |
|
|
I purchased a home it was set to sale on a foreclosure date.
My home sold before it foreclosured.
The mortgage company pennymac reports it as a foreclosure/repossession.
This is not right, I have tried on several telephone calls to have it removed.
They stated they can report it foreclosured if it went into foreclosure.
XXXX it was not foreclosure.
|
| 08/25/2018 |
Yes |
|
- Trouble during payment process
|
|
Web |
|
|
Annual Escrow Analysis was performed on XX/XX/2018.
As usual, I request RE-EVALUATION to REMOVE TWO MONTH DEFAULT.
it's a painful process which i have to request every year ....
Penny Mac automatically increase my payment every year.
every year i need to call and request them to remove additional funds in the escrow and keep my payment AS IS ....
|
| 06/21/2023 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
|
- Incorrect information on your report
- Account information incorrect
|
|
Web |
Servicemember |
|
During the covid pandemic on 2020 I did a forbearance with penny Mac, this due to my Family and I having a tuff financial hardship. The amount due was added to the back of the loan and spoken with the agent no credit was going to be affected. now this shows on all 3 credit bureau with different days.
attached all 3 credit bureau and closing disclosure
|
| 02/12/2016 |
Yes |
|
- Loan servicing, payments, escrow account
|
|
Web |
|
|
Good day. I am making my mortgage payments to PennyMac USA, I still continue to receive letters from PennyMac stating that my mortgage is in default. Each time I call customer service, they repeat that my mortgage is in default and I continue to deny the claims. I have provided all of my payments and have even paid over the amount that I needed to pay.
|
| 02/21/2023 |
Yes |
|
- Trouble during payment process
|
|
Web |
|
|
I sent in the negotiable instruments for every month that I had the account and a letter requesting all unearned interest due on the account. Be sent back within XXXX business days. They sent a response back stating they sent an escrow overage check in XXXX XXXX XXXX. That has nothing to do with the unearned interest due on the behalf of my account.
|
| 06/01/2015 |
Yes |
- Mortgage
- Home equity loan or line of credit
|
- Loan modification,collection,foreclosure
|
|
Web |
|
|
Pennymac is foreclosing on a homeowner who has attempted in good faith to renegotiate a loan modification of this home equity loan. Also, the foreclosure itself may be invalid due to improper notice requirements. Pennymac should be required to meet loan servicer guidelines in terms of a single point of contact and HAMP loan modification regulations.
|
| 08/08/2022 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Struggling to pay mortgage
|
|
Web |
|
|
I have been approved for the Home Owner Assistance program. I have a completed third party authorization form but my mortgage servicer will not accept any of my forms. They say they have no correspondence from the state. I was approved in XXXX, I sent my application in XXXX. These funds could be sitting and not even being processed or my documents.
|
| 08/18/2022 |
Yes |
|
- Trouble during payment process
|
|
Web |
|
|
On XX/XX/22 we got approved by XXXX for past due payments, which mortgage has received it and applied. We also received the future 18 payments moving forward for the full amount of my mortgage payment and XXXX worker told me they will be paying out starting XX/XX/XXXX. Until today mortgage says they have not received the payments and Im past due.
|
| 11/13/2020 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Struggling to pay mortgage
|
|
Web |
|
|
I have asked my mortgage company ( Pennymac ) to defer 6 payments after the end of my forberance plan, but its taking them too long to make a decision and Im receiving calls from them in which they are harassing me to make the missed payments or they will send negative reporting to the credit bureaus as well as foreclosing my house. Please assist.
|
| 11/13/2019 |
Yes |
|
- Trouble during payment process
|
|
Web |
|
|
I obtained an FHA loan in XXXX. My LTV reached 78 % in XXXX of XXXX. According to the homeowners protection act, my PMI was supposed to be automatically removed. My current LTV is 70.6 %. I have paid PMI for 47 months after it was supposed to be automatically removed, and as such I am owed thousands of dollars by my Mortgage Company Penny Mac USA.
|
| 04/24/2015 |
Yes |
- Mortgage
- Conventional fixed mortgage
|
- Loan servicing, payments, escrow account
|
|
Web |
|
|
I recently paid additional principle on my home mortgage loan. After the additional principle payment the total balance of the loan is approximately 40 % of the appraised value. My mortgage company ( Penny Mac ) refuses to remove the PMI until 2 years from now. because that is the estimated date that the loan value would be below the required 80 %
|
| 02/14/2022 |
Yes |
|
- Trouble during payment process
|
|
Web |
|
|
I can not get a current statement from my lender. Four a while they would not give me a statement at all. I second day air my payment. So I have proof that they received them. So they started moving the processing date up. They always have the payment on the first or second of the month. But when you receive the statment it says I owe two months.
|
| 08/27/2020 |
Yes |
|
- Applying for a mortgage or refinancing an existing mortgage
|
|
Web |
Servicemember |
|
I have contacted pennymac mortgage for over 3wks to receive a copy of my note.The note was not included in my final paperwork from last transaction. i finally realized after multiple attempts they had no intention of sending the note ; since they know i need to refinance. I have filed this complaint in hopes of obtaining the note with your help.
|
| 09/23/2019 |
Yes |
|
- Trouble during payment process
|
|
Web |
|
|
PennyMac is taking too long to send me the balance of my escrow account. I paid off my loan on XX/XX/2019, and they still not have issued a check to me. The customer service representatives have not been helpful. I paid off other loans I had with a servicer called XXXX XXXX XXXX, and they sent my escrow refund five business days after payoff.
|
| 06/15/2015 |
Yes |
- Mortgage
- Conventional adjustable mortgage (ARM)
|
- Loan modification,collection,foreclosure
|
|
Web |
|
|
PennyMac has fail to produce to me the original promise note and mortgage in question.
My request was done not to release the original but notorized the copy under penalty of perjury and then they send me a copy of HUD1 which I do know the signutare are all forgery. In reference to HUD1 that the forgery was committed and I have solid evidence.
|
| 05/04/2021 |
Yes |
- Mortgage
- Other type of mortgage
|
- Applying for a mortgage or refinancing an existing mortgage
|
|
Web |
|
|
We have been attempting to payoff our forbearance 2nd mortgage for 3 weeks now We can not get anyone to respond to the written requests from the closing agent At this point they are costing us potentially the lock we have on the refinance we are doing This is unacceptable- it should not take 3-4 weeks for any company to provide a payoff letter
|
| 03/15/2021 |
Yes |
|
|
|
Web |
Older American, Servicemember |
|
PennyMac VA loan. They were not taking out Real estate taxes so taxes paid late but only after I called them. I wanted to pay on my own so there not late. now they say I can not. This is a VA loan. i wish I had number to VA to let them know. Tax would have been {$1600.00} but because there incomitance {$1700.00}. I want to pay myself.
Thanks
|
| 10/30/2019 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
|
|
Hello, I was overcharged for services that were provided by PennyMacUSA, my current servicer. They charged me {$820.00} for an appraisal and when I spoke to the appraiser, the charge was {$420.00}. The average cost of an appraisal is {$450.00} in my area in Texas. I also got quotes from 3 additional appraisers and they quoted the same amount.
|
| 01/26/2016 |
Yes |
|
- Loan servicing, payments, escrow account
|
|
Web |
|
|
I 've closed a loan through a re-finance and I am owed balance from an escrow account for taxes that was paid by the new bank -- called PennyMac -- they have told me that they paid the outstanding taxes due to the XXXX however the new bank has reported they have paid the outstanding taxes at closing. the loan was re-financed on XXXX/XXXX/2015
|
| 10/24/2016 |
Yes |
- Mortgage
- Conventional fixed mortgage
|
- Loan servicing, payments, escrow account
|
|
Web |
|
|
Prior to receiving a clear to close letter from my lender, XXXX XXXX XXXX XXXX XXXX XXXX XXXX, I had to provide proof of payment for insurance on my condominium unit. This was provided and the servicer is withholding and disbursing payments to my insurer. I am concerned that the servicer is not adequately protecting my personal information.
|
| 10/09/2021 |
Yes |
- Debt collection
- Mortgage debt
|
- False statements or representation
- Attempted to collect wrong amount
|
|
Web |
Older American |
|
That XXXX XXXX placed an encumbrance on the real property by means of an attorneys lien for {$20000.00} in damages for supposed attorney 's fees in arrears. XXXX XXXX, XXXX at XXXX and XXXX XXXX, issued me a Deed of Trust with a note in exchange for equitable title to the real property located on XXXX XXXX XXXX XXXX XXXX XXXX Nevada XXXX.
|
| 11/10/2021 |
Yes |
- Mortgage
- Conventional home mortgage
|
|
|
Web |
|
|
I requested several times to get an estimate for escrow/title fees. I never received anything. Final documentation listed these under " Borrower did not Shop, '' which is not true. In the end I was under the gun and forced to go with lender 's preferred title company in order not to delay closing and risk losing the loan/rate altogether.
|
| 09/11/2023 |
Yes |
|
- Trouble during payment process
- Trying to communicate with the company to fix an issue while managing or servicing your loan
|
|
Web |
|
|
I am applying for a home equity loan through XXXX XXXX XXXX XXXX. They are asking for a current statement of account, PennyMac can not generate a new statement showing everything is current until XXXX. I will lose the opportunity I am requesting a loan for if it is delayed a month because PennyMac can not provide a current statement.
|
| 04/10/2017 |
Yes |
- Mortgage
- Conventional fixed mortgage
|
- Loan servicing, payments, escrow account
|
|
Web |
|
|
I had mailed XXXX checks, dated XX/XX/XXXX, for my house payment and the {$.00} claiming that I was short of XXXX cents.
The checks are # XXXX {$240.00} house payment and check # XXXX for {$.00} cents. I contacted a male rep and indicated that both checks were not in the system.
This servicer has been problematic since, XX/XX/XXXX.
|
| 04/19/2016 |
Yes |
|
- Loan servicing, payments, escrow account
|
|
Web |
Older American, Servicemember |
|
XXXX sold my loan to penny mac back in XXXX 2015 the loan was almost 2 half yrs old there now saying that I owe them 2 months of escrow, have not have had any increase in tax or insurance when i originated the loan I paid 2monthes up front so why are they asking for more money in escrow. there reply has been u need to talk to XXXX,,,
|
| 07/31/2022 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
|
- Incorrect information on your report
- Account status incorrect
|
|
Web |
|
|
In XXXX I was going through a XXXX and also due to a medical illness I got behind on my mortgage and car loan. And was hit with medical bills that are now resolved. But since XXXX I have been current and still reporting on my credit as late! And have Hard inquiries from XXXX XXXX XXXX XXXX. I Have disputed this and still no change.
|
| 08/21/2023 |
Yes |
|
- Struggling to pay mortgage
|
|
Web |
|
|
Ive been in my home 11 years. Never had a struggle paying my mortgage. Then life and COVID happened. So with that. I called my mortgage company ( PENNYMAC ) and asked for a forbearance and they denied it because Im not current. I felt like that was wrong because yes I know its a business, but I felt like they couldve worked with me
|
| 03/11/2017 |
Yes |
- Mortgage
- Conventional adjustable mortgage (ARM)
|
- Loan modification,collection,foreclosure
|
|
Web |
Older American |
|
On XX/XX/XXXX, 2016 PennyMac was denied in a motion to served in or transfer the alleged debt, in violation of the FCRA, FDCPA and FTC.
In violation of United States Constitution, then wish I do not owe any think. They are about to submit fraudulent documentation to United States Bankruptcy Court case # XXXX.
Sincerely / XXXX/.
|
| 03/26/2021 |
Yes |
|
|
|
Web |
Servicemember |
|
Applied and received a locked Loan Estimate on XX/XX/2020 with {$5100.00} in Origination Charges and {$8400.00} in Lender Credit. Received a Closing Disclosure on XX/XX/2020 with {$6100.00} in Origination Charges and only {$390.00} in Lender Credit. Lender also ran my credit without my authorization on XX/XX/2020 and XX/XX/2020.
|
| 08/15/2020 |
Yes |
|
- Applying for a mortgage or refinancing an existing mortgage
|
|
Web |
Older American, Servicemember |
|
I HAVE APPLIED FOR A VA IRRRL REFINANCE. I CALLED PENNYMAC MY CURRENT LENDER FOR THE LAST 3 WKS TO PROVIDE A COPY OF MY NOTE ; WHICH WAS NOT INCLUDED IN MY TITLE PAPERS. HOWEVER, EVERYTIME I CALL I GET A DIFFERENT RESPONSE AS TO WHY I CAN NOT OBTAIN THIS DOCUMENT.
THE LENDER I APPLIED NEEDS TO NOTE TO COMPLETE THE LOAN PROCESS.
|
| 05/06/2021 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Applying for a mortgage or refinancing an existing mortgage
|
|
Web |
|
|
I SUBMITTED ALL INFORMATION REQUIRED TO RECEIVE A LOAN ESTIMATE ON XX/XX/21 TO XXXX XXXX XXXX XXXX XXXX ) AND AS OF XX/XX/21 I HAVE NOT RECEIVED MY LOAN ESTIMATE. I BELIEVE I AM BEING DISCRIMINATED AGAINST DUE TO THE LOW PRICE OF THE HOME I CAN AFFORD. I ASKED A SUPERVISOR THAT I WORK WITH ANOTHER LOAN OFFICER BUT I WAS DENIED.
|
| 12/03/2023 |
Yes |
|
- Struggling to pay mortgage
- Applying for or obtaining a modification, forbearance plan, short sale, or deed-in-lieu
|
|
Web |
|
|
I submitted all pay stubs they asked for for 30 days. It was XXXX dollars earned for 30 days of work they claim they never got the other pay stubs. I have submitted everything they asked for. I get a letter they didnt get it XXXX so sick of this with this company I am about ready to refinance my mortgage with another company.
|
| 12/14/2023 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Closing on a mortgage
- Changes in loan terms during or after closing
|
|
Web |
|
|
On XX/XX/2023 I closed on my home and signed documents that reflect a 7.25 % fixed interest rate. My mortgage was sold to another company at a 7.65 % interest rate and upon reaching out to BOTH companies to fix this they have refused to do so stating the original lender told them it was 7.65 % and they have to adhere to it.
|
| 07/07/2020 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
|
- Problem with a credit reporting company's investigation into an existing problem
- Their investigation did not fix an error on your report
|
|
Web |
|
|
This account is being reported inaccurately and incorrectly on my credit report. I see multiple 30 & 60-days late marks which is a clear violation of my right under the FCRA. The company has never responded to any of my attempts to obtain any proof or documentation that will prove this account is being reported accurately.
|
| 04/07/2023 |
Yes |
|
- Trouble during payment process
|
|
Web |
|
|
Three years ago I bought by FHA we gave 18 % of Dawn P.M. payment of {$240.00} I would like to eliminate that payment my house currently has another value because I did renovations I have contacted the Penny Mac company and they tell me no that I can not take it away unless I pay the house in full how can they help thanks
|
| 01/22/2016 |
Yes |
|
- Application, originator, mortgage broker
|
|
Web |
Servicemember |
|
PennyMac purchased my mortgage and has repeatedly refused to allow me to opt out of PII sharing. I have notified them by phone and in writing of my intent, but they have refused to provide me an e-mail address that would allow this to be properly documented. PennyMac 's actions are a violation of this US statute : XXXX
|
| 07/08/2022 |
Yes |
|
- Trouble during payment process
|
|
Web |
Servicemember |
|
XX/XX/XXXX my escrow account was charged XXXX. This was for home insurance policy renewal. On XX/XX/XXXX my escrow account was charged XXXX again. This resulted in my escrow account going into the negative. I have contacted PennyMac by phone and by message center. They refuse to acknowledge the issue despite evidence.
|
| 02/17/2020 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
|
- Incorrect information on your report
- Account information incorrect
|
|
Web |
|
|
Pennymac Loans # XXXX is reporting a late in XX/XX/20 that I should not have. This late was a fault of XXXX XXXX as I kept trying to call and make the payment by phone and by doing it online, but they kept giving me the run around because their website was not working. This is not my fault and I shouldn't have a late.
|
| 04/30/2021 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
|
- Problem with a credit reporting company's investigation into an existing problem
- Their investigation did not fix an error on your report
|
|
Web |
|
|
In my credit report is not showing my mortgage loan update ; shows as closed but I am paying my mortgage every month. I called PennyMac and they said that I must call my lawyer ; I called my lawyer and she said that they never return the letter that she sent them saying that mortgage wasnt included in my bankruptcy.
|
| 03/20/2017 |
Yes |
|
- Loan servicing, payments, escrow account
|
|
Web |
|
|
My lender will not cancel PMI even though my home my has gone up significantly in value which as a result brought my loan to value ratio down to 60-70 % ; far below the 78-80 % minimum requirement. They state that is based on the loan amount not the fair market value which again is much more than I purchased it for.
|
| 10/01/2021 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
|
|
I believe this account is reporting inaccurately. I do not recall ever having a legal obligation with this company nor do I believe one exists. Please provide me verifiable proof this account belongs to me. I request a signed contract which is the ONLY LEGAL authority that stipulates an agreement. Please remove it.
|
| 02/09/2017 |
Yes |
- Mortgage
- Conventional fixed mortgage
|
- Loan servicing, payments, escrow account
|
|
Web |
Older American |
|
Re : Cheat on interest calculation I paid down my mortgage principal XXXX/XXXX/17 and they continue to charge me the same interest amount from XXXX to XXXX without the deduction of XXXX. I called them and find out they do this for all their customers and they did this for years. This practice needs to be corrected.
|
| 10/27/2023 |
Yes |
- Debt collection
- Other debt
|
- Attempts to collect debt not owed
- Debt is not yours
|
|
Web |
|
|
Third party collection company that has no contract with me posted personal information online on multiple sites. Demanding payments for a debt that was not validated and verified. Identity theft is being reported. Company has no record of business license in my state, i m also reporting to SOS office, AG and IRS
|
| 10/19/2018 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Struggling to pay mortgage
|
|
Web |
|
|
PennyMac is attempting to foreclose on my home with fraudulent robo-signed assignments. We were in the process of working out a modification while at the same time PennyMac was publishing a sale date for my home. This along with other concerns defined in the attached documents is clearly defined as Dual-tracking.
|
| 09/01/2023 |
Yes |
|
- Applying for a mortgage or refinancing an existing mortgage
- Confusing or misleading advertising or marketing
|
|
Web |
Servicemember |
|
My sister I have received over 300+ calls from multiple different lending companies in the past 36 hours. all because I checked with penny mac about refinancing my house for renovation purposes. My sister is not mentioned in my finances anywhere. these actions are harassing, unwanted, and seemingly preparatory.
|
| 08/20/2018 |
Yes |
|
- Applying for a mortgage or refinancing an existing mortgage
|
|
Web |
|
|
I was told that refinancing my home would lead to a principal reduction and my new term would pay away at my principal faster. When everything was said and done, the principal amount went up and I am further behind than I was prior to the refinance. This was not explained to me thoroughly. Penny Mac has failed.
|
| 06/08/2015 |
Yes |
- Mortgage
- Conventional adjustable mortgage (ARM)
|
- Application, originator, mortgage broker
|
|
Web |
|
|
Since XX/XX/XXXX XXXX is no longer involvement with my loan, now in XX/XX/XXXX XXXX transfer my loan to PennyMac Loan Services. I want to know who is my bank, also I need the Holders of the note in date courses for XXXX and PennyMac loan services.
And notorarize all the documents with perjury of witness signed.
|
| 01/17/2018 |
Yes |
|
- Applying for a mortgage or refinancing an existing mortgage
|
|
Web |
|
|
The Current mortgage loan servicer, Pennymac Loan Services of XXXX XXXX XXXX, XXXX XXXX, XXXX XXXX, CA XXXX does not possess an indorsed promissory note from the original servicer of the loan, XXXX XXXX XXXX XXXX. In fact, XXXX XXXX XXXX XXXX noted that it has lost the possession of the original note as well.
|
| 02/12/2021 |
Yes |
|
- Applying for a mortgage or refinancing an existing mortgage
|
|
Web |
|
|
I should not have been sent to collections from Penny Mac. I was going through a refinance on my house at the time and everything was paid off on time. Even when I emailed Penny Mac they agreed, so why they sent me to collections is beyond me. It was transferred from Penny Mac to Solidify through XXXX XXXX.
|
| 09/13/2019 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
|
- Incorrect information on your report
- Personal information incorrect
|
|
Web |
|
|
I have provided the reports with all FTC violation on these accounts 4 months later they have done nothing to resolve the breach that XXXX has known and claimed that was their fault please correct my credit so I can go back to my daily life as a hard-working agent that is just providing food for my family
|
| 02/22/2016 |
Yes |
|
- Application, originator, mortgage broker
|
|
Web |
|
|
During the process of doing an assumption of a mortgage loan with Penny Mac, they pulled my credit twice within a three ( 3 ) month period. This was not needed, acknowledged as an error by their employee XXXX XXXX XXXX # XXXX, yet never removed from my credit bureau and is reporting as showing until 2017.
|
| 07/17/2020 |
Yes |
- Mortgage
- Other type of mortgage
|
- Struggling to pay mortgage
|
|
Web |
Servicemember |
|
I did bill pay online on the XXXX XXXX. I have receive three calls one every day asking for payment. This payment is not a month behind actually two days. I asked to be remove from their list to call my phone. They are more than welcome to send mail but wanting them ti please stop calling my cell phone.
|
| 06/05/2018 |
Yes |
|
- Trouble during payment process
|
|
Web |
|
|
I had repairs done on my home out of my own pocket, the insurance company did inspections and released the funds to me. I sent checks to PennyMac Loan services because they hold the mortgage. They are now saying they won't release the funds or schedule an inspection so i can finish the sale of my home.
|
| 06/13/2018 |
Yes |
|
- Trouble during payment process
|
|
Web |
|
|
PennyMac has continued to misapply my monthly mortgage payment despite explicit instructions on how to allocate the monies. More recently they paid {$1500.00} to XXXX XXXX XXXX for my homeowner 's insurance. The premium is {$1400.00}. PennyMac 's negligence has resulted in an over payment of {$74.00}.
|
| 07/15/2018 |
Yes |
|
- Struggling to pay mortgage
|
|
Web |
Servicemember |
|
XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX Texas XXXX XXXX XXXX Penny Mac Mortgage XXXX XXXX XXXX XXXX XXXX Ca XXXX XXXX XXXX XXXX XXXX Penny Mac Mortgage wan to pay all of the 2 months behind will not want to take one payment at time so I can at least be behind 1 payment instead of 2 payments
|
| 03/28/2018 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
|
|
Loan amount is currently less than 80 % of original value and 12 months old. Lender is stating a seasoning requirement of 24 months and evidence of improvements. Photo of newly constructed deck was provided to lender. Lender has not responded to request and new monthly statement contains PMI amount.
|
| 08/09/2022 |
Yes |
|
- Trouble during payment process
|
|
Web |
Servicemember |
|
In XX/XX/XXXX, PennyMac sent me an escrow refund which was less than amount actually owed. Upon calling multiple times ( XX/XX/XXXX ), PennyMac ( weeks later ) stated they applied a partial escrow refund to my payoff amount. This was done without my consent. The refund check issued to me was short.
|
| 12/15/2023 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
- Escrow, taxes, or insurance
|
|
Web |
|
|
XXXX XXXX XXXX is over collecting escrow.
XXXX as of XX/XX/XXXX with taxes and insurance paid {$2900.00}.
Collecting {$700.00} per month.
Estimated cost for XXXX : Taxes ( {$2800.00} ) Insurance ( {$3500.00} ) Estimated over payment for XXXX - XXXX Estimated escrow balance for XXXX - XXXX
|
| 08/02/2022 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
|
- Incorrect information on your report
- Old information reappears or never goes away
|
|
Web |
|
|
I Spoke with the company regarding late payments and foreclosure on credit due to inability to find a place to live and getting denied automatically due to that. They said I would need to talk to one of the credit bureaus to get this removed. I submitted a dispute and information was not changed.
|
| 10/13/2018 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Struggling to pay mortgage
|
|
Web |
|
|
XXXX XXXX XXXXXXXX is attempting to foreclose on my home with fraudulent robo-signed assignments. We were in the process of working out a modification while at the same time, PennyMac was publishing a sale date for my home. This is by definition a situation of Dual Tracking - please investigate.
|
| 01/19/2017 |
Yes |
|
- Loan modification,collection,foreclosure
|
|
Web |
|
|
I submitted paperwork to the mortgage servicer regarding a short sale and this company is giving me the round around, in fact they are working hard in foreclosing on my house, I have submitted my financial statements, a purchase contract have been accepted but they have not approve my short sale
|
| 03/03/2018 |
Yes |
|
- Applying for a mortgage or refinancing an existing mortgage
|
|
Web |
Servicemember |
|
XX/XX/2017 Pennymac sent answer regarding loan mod they approve me for fha hamp also said it was most beneficial to me I was not reviewed for partial claim or only claim or forbearance said for explanation why to see exhibit two which only stated this section doesn't apply no other explanation
|
| 10/28/2015 |
Yes |
|
- Loan servicing, payments, escrow account
|
|
Web |
|
|
My payment was lost and in addition to countless late fees, my credit reflects a 30 day late payment, when in fact, they had the payment but it was sitting in suspense on my account. It took 3 weeks for Penny Mac to correctly apply my payment and now they refuse to remove the hit on my credit.
|
| 11/29/2022 |
Yes |
- Mortgage
- Other type of mortgage
|
- Applying for a mortgage or refinancing an existing mortgage
|
|
Web |
|
|
I've attempted to apply for a refinance with XXXX different loan officers with PennyMac. They are extremely vague in the information provided to you. Was told XXXX is too high which is fine ; however, when pressed to show a breakdown and/or explain they go silent. No transparency whatsoever.
|
| 02/23/2022 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
|
|
I have trying to get my year end statement from Pennymac out of California. I have as of today, XX/XX/22, to receive it. I talked to a representative named XXXX on last Wednesday. She told me she would XXXX XXXX it to me. 6 days later, nothing. Call the number to her extension and nothing.
|
| 03/25/2021 |
Yes |
|
- Struggling to pay mortgage
|
|
Web |
Servicemember |
|
XXXX XXXX. Qualified Written Request Letter was sent certified to XXXX XXXX XXXX and delivered by USPS on XX/XX/2021 at XXXX XXXX
XXXX still has not responded to that letter as of today, XX/XX/2021.
This date has far surpassed the five day mark that XXXX has to respond to the QWR letter.
|
| 08/01/2019 |
Yes |
|
- Struggling to pay mortgage
|
|
Web |
Servicemember |
|
I called and tried to pay and they refuse to take my payment because it is a partial payment. I want to pay them it says on my statement that any amount received less than the full amount will be applied into a suspense account until the full payment is made but they will not let me do this
|
| 02/02/2017 |
Yes |
|
- Loan servicing, payments, escrow account
|
|
Web |
|
|
My mortgaqe servicer, PennyMac, has not paid the property taxes on my home. These taxes are included in my mortgage, and they are now 5 months past due. XXXX XXXX will file a lien on the property. I have spoken to PennyMac on multiple occasions, but they have stull refused to pay the taxes
|
| 11/15/2015 |
Yes |
|
- Loan servicing, payments, escrow account
|
|
Web |
|
|
PennyMac, my mortgagee drafted a payment from my bank account {$560.00} in excess of the scheduled payment. They sent me a refund check for that amount with no explanation of how it happened, and certainly without interest for " borrowing '' my money without my permission for the duration.
|
| 03/25/2015 |
Yes |
- Mortgage
- Conventional adjustable mortgage (ARM)
|
- Loan modification,collection,foreclosure
|
|
Web |
|
|
Penny Mac purchased me Note from XXXX, At the time my loan was sold XXXX had agreed to terms on a loan modification. Penny Mac then required me to resubmit a new package and I was turned down. It was then requested I resubmit which I have done several times and have not had any resolution.
|
| 08/18/2019 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
|
- Incorrect information on your report
- Account status incorrect
|
|
Web |
Servicemember |
|
PennyMac Mortgage Service I have paid this loan off XX/XX/2019. As well XXXX XXXX same day. For some reason PennyMac is still lacking on reporting my Mortgage still open and not paid off or closed. Why? I have at least contacted them at least over 4x. Have no clue why they do not resound.
|
| 09/26/2019 |
Yes |
|
- Trouble during payment process
|
|
Web |
|
|
My payment for my mortgage has went up by {$300.00}. Due to escrow analysis. I'm struggling now and don't know if I can pay the extra. I dont understand why I need to pay XXXX in full or pay XXXX more for new payment. My taxes have only went up by XXXX. So why would it be this much more?
|
| 12/13/2018 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Struggling to pay mortgage
|
|
Web |
Older American |
|
On XX/XX/2016 the Judge XXXX XXXX XXXX XXXX XXXX. Denied the Plaintiffs Motion to Substitute Party. ( See Attached ).
Now PennyMac want to collect money for me of engaging in business practices that are immoral, unethical, oppressive, unscrupulous, and harmful to me. ( See Attached ).
|
| 11/18/2021 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
|
- Incorrect information on your report
- Account information incorrect
|
|
Web |
|
|
I just received a copy of my XXXX credit report and noticed PennyMac marked my account 30 days delinquent for XX/XX/2021.
Notably, during this time- my account was in a COVID-19 forbearance status. My loan has since been modified and I have restarted payments.
Please see attached.
|
| 07/15/2023 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Struggling to pay mortgage
|
|
Web |
|
|
I am the successor. PennyMac stated that the old borrower died. PennyMac has chosen to have a sale date instead of canceling the sale to allow me to undergo loss mitigation. PennyMac has also confused me with what it is requesting on the payoff. It is asking for fees it can't charge.
|
| 07/05/2022 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Other personal consumer report
|
- Problem with a company's investigation into an existing issue
- Difficulty submitting a dispute or getting information about a dispute over the phone
|
|
Web |
|
|
Our loan provider Has in accurately reported my account as delinquent 90 days, which is not true. When called to inquire, the repXXXX Was not helpful and couldnt give me any information when my statements show that i paid what was due. I should not have been marked delinquent 90 days
|
| 08/22/2016 |
Yes |
|
- Loan servicing, payments, escrow account
|
|
Web |
|
|
I refinanced my home. They instantly sold the loan. My interest rate is 3.75 % and my payments are {$2100.00}. I just received my first payment, and it says {$800.00} is escrow, {$910.00} is interest ( way more than 3.75 %!!! ), and only {$440.00} is principal. This can not be right.
|
| 12/22/2015 |
Yes |
- Mortgage
- Conventional fixed mortgage
|
- Loan servicing, payments, escrow account
|
|
Web |
|
|
Mortgage was refinanced with new loan provider and old lender sent a debt collection letter after the account was closed. They required verification of personal information and then claimed it was required by federal law to say that it was debt collection letter when no debt exists.
|
| 04/23/2015 |
Yes |
|
- Loan servicing, payments, escrow account
|
|
Web |
Older American |
|
I have a Veteran Loan backing with PennyMac Loan Services , LLC.
PennyMac has in escrow my money to pay my property insurance.
PennyMac did not pay my property insurance when due. MyProperty insurance had expired & PennyMac will not pay the inpoundmoney for the property insurance.
|
| 11/04/2020 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
|
|
XXXX XXXX XXXX, Loan XXXXPayment Sent XXXX, {$1500.00}. Payment Deposited XXXX Loan was sold to Pennymac loan # XXXX.
XXXX XXXX XXXX states this payment was forwarded to the new servicer, Penny Mac via wire transfer XXXX.
Penny Mac has not credited the payment to my account.
|
| 01/20/2018 |
Yes |
|
- Trouble during payment process
|
|
Web |
|
|
Pennymac Loan services has been charging my loan account " home inspection fee '' since 2015. In XX/XX/XXXX, Pennymac hired XXXX to go to my property and change locks on my residence. As a result, I was unable to enter my residence. I have been living outside my residence since.
|
| 04/22/2023 |
Yes |
|
- Struggling to pay mortgage
|
|
Web |
|
|
I went into Covid forbearance. It reported late for 11 months. Never indicated the reason why I was in forbearance now I cant even get housing I feel it is not reported correctly because it is made to look like I just didnt want to pay it. Now credit suffers leaves me no where
|
| 05/14/2020 |
Yes |
|
- Struggling to pay mortgage
|
|
Web |
Servicemember |
|
I spoke to Penny Mac loan services today regarding the CARES act. We are currently in forbearace due a covid19 hardship. We would like to place our forbearace amount into a balloon payment at the end of our loan as stated in the CARES act. Penny Mac is denying us this option.
|
| 12/18/2018 |
Yes |
|
- Trouble during payment process
|
|
Web |
Older American, Servicemember |
|
This has happen for the second time in 2 years! Please see attached letter to and from mortgage company! They made a repeated mistake on the Escrow estimate for the second time in 2 years and expect me to pay for it! A so called Internal accounting error!
XXXX XXXX XXXX XXXX
|
| 07/05/2018 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
|
- Improper use of your report
- Credit inquiries on your report that you don't recognize
|
|
Web |
|
|
I appealed to my lender to reverse the first and only 30 day late reported on my credit report ever! I explained that it was the fault of my broker, and I hoped they would understand and that I would comply with any stipulations they might require in order to move forward.
|
| 02/14/2019 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
|
|
I have been paying my mortgage every 2 weeks like I have for years and this company changed my automatic payments in XX/XX/XXXX. Their system is completely disorganized and I have not had any luck getting anyone to call me back. This is the second year I have had issues.
|
| 12/18/2018 |
Yes |
|
- Struggling to pay mortgage
|
|
Web |
|
|
Im trying to avoid foreclosure. I've tried to do a loan modification on my home but Penny Mac wont open it up or even review it. Now I would like to do a short sale. I just really want to avoid foreclosure. but I feel like lender wont give me a chance for either option.
|
| 03/23/2023 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
|
- Problem with a credit reporting company's investigation into an existing problem
- Their investigation did not fix an error on your report
|
|
Web |
|
|
I have been trying to get this late off my credit report for months. I have sent in 5 disputes and nothing is being done. I have sent in proof that I myself are submitting the request to have this removed. I have filled for a full file disclosure and never received it.
|
| 01/30/2021 |
Yes |
- Debt collection
- I do not know
|
- Attempts to collect debt not owed
- Debt is not yours
|
|
Web |
Older American, Servicemember |
|
PennyMac agents have been calling our telephone number repeatedly for years asking for XXXX XXXX. We have told PenneyMac agents repeatedly that we have had this telephone number for eight years and there is no XXXX XXXX here, but the harassing telephone calls continue.
|
| 11/16/2021 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
|
- Incorrect information on your report
- Information belongs to someone else
|
|
Web |
|
|
These accounts don't belong to me. Please remove them form all 3 credit reporting agencies. please see below the list of accounts that are reporting derogatory on all 3 credit reporting agencies : PENNYMAC LOAN SERVICES Account Number : XXXX XXXX Account Number : XXXX
|
| 09/10/2016 |
Yes |
|
- Loan servicing, payments, escrow account
|
|
Web |
|
|
Mortgage servicer lost my cashiers check and is reporting it as 30 days late on my credit report. This was my first payment. I mailed it to my original servicer, XXXX, and it was never applied to my loan. I feel as though I am being the target of predatory servicing.
|
| 01/15/2019 |
Yes |
|
- Trouble during payment process
|
|
Web |
|
|
I contacted pennymac today XXXX and asked to uave PMI removed from my FHA mortgage since it had been over 2 years and my LTV is below 80 %. They stated that i had to have PMI for the entire life of the loan.
I dont belive this is true.
Please advise my options.
|
| 03/20/2017 |
Yes |
- Mortgage
- Conventional fixed mortgage
|
- Loan modification,collection,foreclosure
|
|
Web |
|
|
I am trying to get a modification on my loan and finished all three trial payments but when I called to see about getting the final modification they told me I was {$3000.00} behind and that it would be 90 days before I had an answer. I do n't know what to do now.
|
| 10/03/2018 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Struggling to pay mortgage
|
|
Web |
Servicemember |
|
this correspondence is reference to predatory lending, I hired a legal firm XXXX XXXX to represent me with current mortgage lender ( PennyMac ) .The loan didn't get modified I paid the firm $ XXXX monthy. My name has been removed off the title and in foreclosure.
|
| 11/07/2023 |
Yes |
- Credit reporting or other personal consumer reports
- Credit reporting
|
- Improper use of your report
- Reporting company used your report improperly
|
|
Web |
|
|
They charging me for a mortgage thats already paid for thought my trust account. I signed paperwork with XXXX XXXX not with a 3rd party debt collection company name thats on my credit is pennymac I never signed with them.. They dont have the original documents.
|
| 08/07/2021 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Applying for a mortgage or refinancing an existing mortgage
|
|
Web |
|
|
I tried to refinance at the end of XXXX it was denied due to them not compiling the information that they needed. I went into the hospital with XXXX in XXXX and tried to reapply again. It was denied again and they want me to go through the whole process again.
|
| 03/07/2018 |
Yes |
- Debt collection
- Mortgage debt
|
- False statements or representation
- Attempted to collect wrong amount
|
|
Web |
Older American |
|
power to sale is void 736.11a, new lawsuit filed 10 day automatic stay sale during this time filed on XX/XX/XXXX sold XX/XX/XXXX XXXX XXXX XXXX notice giving to him before sale and giving to company and attorney for pennymac also 4 year run after cout case XXXX
|
| 03/06/2018 |
Yes |
- Mortgage
- Conventional home mortgage
|
|
|
Web |
|
|
We sold our house and the title company has been trying to get the payoff for 2 weeks. On Friday they told us that every time we call them it delays the request for the payoff. We aren't going to close on our house today and now the buyer is ready to walk away.
|
| 03/26/2018 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
|
|
Pennymac loan services refuses to relase me from escrow so I can pay my taxes and insurance on my own. The reason I am requesting this is because they are asking for a {$500.00} a month increase in the escrow payment and my taxes nor my insurance has gone up??
|
| 03/08/2020 |
Yes |
|
- Trouble during payment process
|
|
Web |
|
|
My homeowners insurance expired on XX/XX/2020. I received a notice from XXXX that my mortgagee failed to pay renewal premium in which I pay for monthly in my mortgage payment. The notice states that if I dont pay the past due balance I will lose coverage.
|
| 05/02/2015 |
Yes |
- Mortgage
- Conventional fixed mortgage
|
- Loan servicing, payments, escrow account
|
|
Web |
|
|
I 'm being given the run around for over a week.
Over a week and still can not access my mortgage account online.
Pennymac usa is making no effort to reset my account so that I can access my account online to pay my bill and be aware of account issues.
|
| 04/16/2016 |
Yes |
|
- Loan servicing, payments, escrow account
|
|
Web |
Older American |
|
I purchased a home through XXXX XXXX with my loan payment, taxes and insurance totaling $ XXXX/month. They sold the loan to PennyMac who a year later raised my rate t0 {$730.00}. The only explanation I received for the increase was " Escrow Analysis ''
|
| 07/29/2020 |
Yes |
|
- Incorrect information on your report
- Account status incorrect
|
|
Web |
|
|
I was on a COVID forbearance with PennyMac but it is showing up that I am behind on my mortgage. That is not correct. I am in the process of trying to work out a loan modification. The company keeps stating that I am protected but that is not correct.
|
| 09/24/2018 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
|
|
PennyMac misappropriated the entirety of multiple payments as " Principal Reduction '' as opposed to " Payment '' and then proceeded to charge a series of late fees. When attention was raised PennyMac agreed to withdraw only the most recent late fee.
|
| 04/18/2019 |
Yes |
|
- Trouble during payment process
|
|
Web |
Older American, Servicemember |
|
My mortgage was sold to penny max and they raise the interest rate up over what I closed at. I was at around 4.5 and now Im close to 6 percent. This makes a big difference on the payment and over all loan amount. Can you help me with this. XXXX XXXX
|
| 10/09/2015 |
Yes |
|
- Loan modification,collection,foreclosure
|
|
Web |
Servicemember |
|
I have a loan with pennymac transfered from XXXX XXXX to XXXX. I spoke with people fromPennymac more than a week ago. They told me they were going to send me papers in the next seventy two hours, and I have not heard from them. My name is XXXX XXXX
|
| 10/28/2022 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Struggling to pay mortgage
|
|
Web |
|
|
I am in a state program which is making payments to XXXX XXXX for my mortgage and every month they let it sit and don't apply it. They only investigate once I make a complaint. I should not have to do this, this should be applied more efficiently.
|
| 05/05/2020 |
Yes |
|
- Incorrect information on your report
- Account status incorrect
|
|
Web |
Servicemember |
|
The mortgage company reported my mortgage as forbearance but my loan is supposed to be reported as on time and current based on the guidelines by the Care Act. This is negatively effecting my credit. My credit card company reduced my credit limit.
|
| 10/14/2015 |
Yes |
|
- Loan servicing, payments, escrow account
|
|
Web |
|
|
Servicer failed to respond to short sale request and then declined a full priced offer for no valid reason - gave us the amount they would approve then after receiving that amount declined - also never returned calls - did not process request
|
| 03/08/2021 |
Yes |
|
- Trouble during payment process
|
|
Web |
Servicemember |
|
I have an escrow account through PennyMac. PennyMac failed to pay a Property Tax bill that was due on XX/XX/2020. PennyMac paid the bill after I called in and reported the missed payment, but I had to pay for the penalties for their mistake.
|
| 01/29/2021 |
Yes |
|
- Problem with a credit reporting company's investigation into an existing problem
- Their investigation did not fix an error on your report
|
|
Web |
|
|
I see multiple 30-90 days late marks which is a clear violation of my right under the FCRA. The company has never responded to any of my attempts to obtain any proof or documentation that will prove this account is being reported accurately.
|
| 01/26/2021 |
Yes |
|
- Problem with a credit reporting company's investigation into an existing problem
- Their investigation did not fix an error on your report
|
|
Web |
|
|
I see multiple 30-60 days late marks which is a clear violation of my right under the FCRA. The company has never responded to any of my attempts to obtain any proof or documentation that will prove this account is being reported accurately.
|
| 02/21/2018 |
Yes |
- Debt collection
- Mortgage debt
|
- False statements or representation
- Attempted to collect wrong amount
|
|
Web |
|
|
Pennymac allegedly servicing the loan # XXXX has charged multiple fees for property inspection and have frequently appeared at my residence and more recently in 2017 changed the locks to my unit and may have removed items from my residence.
|
| 12/06/2020 |
Yes |
|
- Problem with a credit reporting company's investigation into an existing problem
- Their investigation did not fix an error on your report
|
|
Web |
|
|
I see multiple 120 days late marks which is a clear violation of my right under the FCRA. The company has never responded to any of my attempts to obtain any proof or documentation that will prove this account is being reported accurately.
|
| 05/28/2020 |
Yes |
|
- Problem with a credit reporting company's investigation into an existing problem
- Their investigation did not fix an error on your report
|
|
Web |
|
|
I see multiple 120-days late marks which is a clear violation of my right under the FCRA. The company has never responded to any of my attempts to obtain any proof or documentation that will prove this account is being reported accurately.
|
| 02/12/2021 |
Yes |
|
- Problem with a credit reporting company's investigation into an existing problem
- Their investigation did not fix an error on your report
|
|
Web |
|
|
I see multiple 30 days late marks which is a clear violation of my right under the FCRA. The company has never responded to any of my attempts to obtain any proof or documentation that will prove this account is being reported accurately.
|
| 07/22/2019 |
Yes |
|
- Trouble during payment process
|
|
Web |
Servicemember |
|
PennyMac purchased my loan from XXXX in early 2019. PennyMac failed to pay my home insurance by the due date despite the fact that it collects escrow each month to cover the expense. My policy has now lapsed due to PennyMac 's negligence.
|
| 12/15/2022 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
|
- Problem with a credit reporting company's investigation into an existing problem
- Their investigation did not fix an error on your report
|
|
Web |
|
|
Always had perfect payment history never Gad a late payment, they had an issue with the auto pay and never notified me of anything until they reported late payment and when I called to dispute they said they will remove it and never have
|
| 08/15/2018 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
|
|
The reason for this complaint is they claiming that I am 2 months delinquent, when I have XXXX submit a check from my account every month. Every month my payment is always sent from my credit union. My credit union does not lie. PM does.
|
| 11/15/2016 |
Yes |
|
- Loan modification,collection,foreclosure
|
|
Web |
|
|
I am trying to get a modification and have submitted all of my documents 2 weeks ago but it still shows that I need to submit documents and does n't seem like anything is moving. When I call they keep telling me 7 days or 15 days etc.
|
| 08/14/2020 |
Yes |
|
- Trouble during payment process
|
|
Web |
Servicemember |
|
I was given the wrong amount to pay for my XXXX mortgage payment. This has already been confirmed by XXXX XXXX ( XXXX XXXX ). Penny Mac has the audacity to charge me a late fee. I want my money ( {$57.00} ) back for loan number XXXX!
|
| 11/15/2017 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
|
- Incorrect information on your report
- Account status incorrect
|
|
Web |
|
|
My XXXX XXXX # XXXX is showing the wrong balance amount, currently late. I have never been late, it was last updated XXXX/XXXX/XXXX paid current and is also in a forbearance plan due to XXXX XXXX. It is drastically lowering my score.
|
| 01/05/2017 |
Yes |
|
- Loan servicing, payments, escrow account
|
|
Web |
|
|
My Mortgage payment amount changes each month.
I never know how much I am suppose to pay.
The company PennyMac XXXX CA XXXX I have tried to speak to someone about the constant changing of the mortgage amount I am to pay each month.
|
| 07/05/2023 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
|
- Improper use of your report
- Reporting company used your report improperly
|
|
Web |
|
|
On XX/XX/2023, per the FCRA, I notified PennyMac that I elected to opt-out of any and all authorizations I may have provided them to provide my personal non-public information to any non-affiliated third party based on 15 USC 6802 .
|
| 08/23/2022 |
Yes |
|
- Trouble during payment process
|
|
Web |
|
|
I am receiving 18 months of mortgage payments from Homeowners Assistance Fund. Ive called several times about this months mortgage which PennyMac has not applied. I had to call numerous amount of times last month for the same issue.
|
| 09/17/2020 |
Yes |
- Mortgage
- Other type of mortgage
|
- Applying for a mortgage or refinancing an existing mortgage
|
|
Web |
|
|
I have been trying to contact Pennymac about assuming my mortgage to remove my ex-wife 's name from the mortgage. They will not make contact with me despite spending hours on the phone, only to be constantly rerouted or hung up on.
|
| 05/18/2020 |
Yes |
|
- Trouble during payment process
|
|
Web |
|
|
I am trying to get out of forbearance and no one at Pennymac is able to take me out of forbearance. I am unable to refinance my house do to this problem. Pennymac has frozen my account so that I cant perform anything on my account.
|
| 06/01/2015 |
Yes |
- Mortgage
- Conventional adjustable mortgage (ARM)
|
- Loan servicing, payments, escrow account
|
|
Web |
|
|
The Mortgage company has omitted some of our mortgage payments for the last two years and they are trying to foreclose on us tomorrow. We, need help to hold the Mortgage Company liable for misappropriating your mortgage payments.
|
| 08/01/2022 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Incorrect information on your report
- Account information incorrect
|
|
Web |
|
|
Completed a Deed-in-lieu in XX/XX/XXXX with Pennymac loan services. XX/XX/XXXX Pennymac reported a late payment on my credit report for non-payment after release of lien was issue in XX/XX/XXXX and XXXX completed in XX/XX/XXXX.
|
| 07/26/2020 |
Yes |
|
- Struggling to pay mortgage
|
|
Web |
Servicemember |
|
I have been out of work for two weeks due to results pending for my daughter. I will not be able to make mortgage for the month of XXXX and struggle with XXXX mortgage due to caching up on other bills that I will be behind on
|
| 10/25/2017 |
Yes |
|
- Struggling to pay mortgage
|
|
Web |
|
|
I have tried several times to modify my house with Penny Mac and they are not willing to work with me on modifying my home.. I am on XXXX and I need my mortgage payment and interest rate reduced based on my income Thank You
|
| 08/02/2020 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
|
- Problem with a credit reporting company's investigation into an existing problem
- Difficulty submitting a dispute or getting information about a dispute over the phone
|
|
Web |
Servicemember |
|
Can not make statements of wrongful reports by PennyMac to transunion about severe delinquency due to COVID 19 DISASTER LOSS. PennyMac is in default. I am currently and have been in the past on COVID Relief not delinquent.
|
| 11/04/2019 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
|
|
I am having trouble with my online account with PennyMac. I cant reach anyone to solve the issue. Endless hold times, and inoperable website. I cant even pay them what I owe them! Very, very, very, poor customer service!!!
|
| 01/18/2023 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
|
- Unable to get your credit report or credit score
- Other problem getting your report or credit score
|
|
Web |
|
|
I've reached out to transunion and my mortgage lender ( pennymac services ) about my mortgage loan not being reported to my transunion. Nothing is being fixed. I've waited more than 60 days. I've had the loan for 7 years.
|
| 01/07/2021 |
Yes |
|
- Struggling to pay mortgage
|
|
Web |
|
|
Client was looking to do a loan modification. A company called XXXX XXXX XXXX contacted him. He sent approximately {$4100.00}. He reached out to his mortgage company and they said they were not familiar with that company.
|
| 12/13/2023 |
Yes |
|
- Struggling to pay mortgage
- Applying for or obtaining a modification, forbearance plan, short sale, or deed-in-lieu
|
|
Web |
|
|
In 2015 my attorney XXXX XXXX XXXX at XXXX sent the required information. The guy that was working on it kept saying they did not get it but it was sent from my attorney 's office until they finally foreclosed illegally.
|
| 06/26/2017 |
Yes |
|
- Trouble during payment process
|
|
Web |
|
|
I have a Mortgage with Penny Mac and I have been paying escrow they have been pocketing my money and not paying my insurance. I got a call from my insurance agent stating that my insurance was cancelled for non payment.
|
| 11/26/2022 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
|
|
I never received my escrow refund checks for loans : Mortgage Loan XXXX XXXX XXXX XXXX {$3600.00} Mortgage Loan XXXXXXXX XXXX XXXX XXXX XXXX {$4200.00} use edisbursement and deposit this money into my checking account.
|
| 07/12/2017 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Problem with a credit reporting company's investigation into an existing problem
- Investigation took more than 30 days
|
|
Web |
|
|
Pennymac is not acting in good faith, and are ignorant to my complaint, they are reporting a negative account under my name with no history. Despite several attempts to correct it and advising them that it 's not mine.
|
| 12/22/2022 |
Yes |
- Mortgage
- Conventional home mortgage
|
|
|
Web |
|
|
I had a mortgage with Pennymac on a home I sold in XX/XX/2022. Apparently I had a {$750.00} credit and it's XXXX and I don't have my money? I'm owed the principal {$750.00} and 11 months of interest. How do I get it?
|
| 01/23/2020 |
Yes |
|
- Struggling to pay mortgage
|
|
Web |
|
|
Been faxing in loan modificaiton paperwork since XXXX OF 2019 But PENNYMAC KEEPS LOOSING just one examaple! AND THERE FORECLOSURE ATTY XXXX & XXXX XXXX SAYS CALL XXXX LEFT 10 MESSAGE BEFORE NOON AND NO ONE ANSWERS!
|
| 10/25/2017 |
Yes |
|
- Trouble during payment process
|
|
Web |
|
|
My loan was financed by XXXX XXXX XXXX XXXX and the company registered a deed with the XXXX XXXX registry. When XXXX sold the loan ( if they did XXXX, to XXXX XXXX XXXX, XXXX never registered the deed for transfer.
|
| 05/03/2022 |
Yes |
|
- Trouble during payment process
|
|
Web |
|
|
When Home was purchased, I was advised that I can call in to request the removal of my Private Mortgage Insurance Once I have more than 20 % Equity in my home.
The Mortgage Company is not honoring their promise.
|
| 08/17/2022 |
Yes |
- Debt collection
- Mortgage debt
|
- Attempts to collect debt not owed
- Debt is not yours
|
|
Web |
|
|
I submitted a debt disclosure statement to PennyMac in reference to validate a loan. They responded back with not validating the debt per the Truth in Lending Act at 1-5 U.S.C. 1601-1667f and 15 USC 1692 et seq.
|
| 09/16/2021 |
Yes |
|
- Incorrect information on your report
- Account status incorrect
|
|
Web |
Servicemember |
|
I am being reported late in XX/XX/2021. The month has not finished. Also, I am currently in forbearance until XX/XX/2021. It's impossible for me to be late when I do not have a payment due until XX/XX/2021 2021
|
| 03/09/2021 |
Yes |
|
- Applying for a mortgage or refinancing an existing mortgage
|
|
Web |
|
|
I am trying to refiance my home. When contact the mortage company for documents such as payoffs and netted escrow balances. They will not supply the documents needed. They keep demanding I refinance with them.
|
| 07/10/2021 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Struggling to pay mortgage
|
|
Web |
|
|
I am on a fixed income XXXX XXXX monthly to live on and I just cant make payments right now my car is out of order trying to get fixed for all doctors appointment meds cost and I have animals to feed as well
|
| 12/18/2019 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
|
|
My mortgage with PennyMac was paid in full on XX/XX/19. The mortgage still shows on my credit report and needs to be removed right away. PennyMac has failed to report to payoff to the credit bureaus timely.
|
| 05/08/2020 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
|
- Problem with a credit reporting company's investigation into an existing problem
- Their investigation did not fix an error on your report
|
|
Web |
|
|
I have contacted the creditor/company many times but they have failed to provide me with necessary documents that will prove this account or debt belongs to me and it has resulted in loss of credit rating.
|
| 02/02/2023 |
Yes |
|
- Trouble during payment process
|
|
Web |
|
|
I have minimum balance on XX/XX/XXXX and paid Shortage on that time.I Missing Money Base on Statements and project Escrow Account Activity from XX/XX/XXXX to XXXX XXXX Missing Money from my Escrow Balance
|
| 10/08/2023 |
Yes |
|
- Incorrect information on your report
- Account information incorrect
|
|
Web |
|
|
I have an agreement with the mortgage company to start payments in XXXX and credit score will not be affected. According to my Credit file/ report my credit score have dropped. This was not the agreement
|
| 03/16/2022 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
|
- Incorrect information on your report
- Account information incorrect
|
|
Web |
|
|
I was not late on my PennyMac mortgage for XX/XX/2022. I submitted payment before it was a full 30 days. Please see my attached document as proof. Please rectify this late payment as soon as possible.
|
| 07/14/2020 |
Yes |
|
- Trouble during payment process
|
|
Web |
Servicemember |
|
my mortgage servicer did not pay my taxes and escrow money for a year and now I got to pay it with my mortgage payment in which I am struggling to pay this because of the double amount I have to pay.
|
| 12/31/2015 |
Yes |
|
- Credit decision / Underwriting
|
|
Web |
|
|
I requested Penny Mac to remove the PMI insurance they say it has to be 78 percent the law states 80 percent we want it remove. I am current with my loan and I do qualify for the pmi to be removed
|
| 06/16/2016 |
Yes |
|
- Settlement process and costs
|
|
Web |
Servicemember |
|
My VA Representation confirmed my VA Liquidation guidelines were approved. The Servicer, Penny Mac, will not honor my approved Liquidation. I am currently doing a VA short sale, as to I am XXXX.
|
| 09/28/2021 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
|
|
My home at XXXX XXXX XXXX.
XXXX XXXX Ca XXXX Was foreclosed in XX/XX/XXXX after being denied modification-Although, XXXX XX/XX/XXXXapproved my modification.
I believe I was wrongfully denied.
|
| 04/28/2016 |
Yes |
- Mortgage
- Conventional adjustable mortgage (ARM)
|
- Loan servicing, payments, escrow account
|
|
Web |
|
|
We have a home insurance claim related to damage from the winter of 2014. They are not processing our payment. I have a recorded call that states they will release payment but continue to delay
|
| 12/28/2021 |
Yes |
|
- Struggling to pay mortgage
|
|
Web |
|
|
I have attempted to worked with PENNY MAC to restructure my loan with an affordable loan modification. PENNY MAC refuse to grant me loan mod and forwarded my loan to a lawyer for foreclosure.
|
| 11/11/2019 |
Yes |
|
- Trouble during payment process
|
|
Web |
Servicemember |
|
PennyMac treated myXX/XX/2019 payment of {$1900.00} as a principal reduction payment yet only reduced the principal by {$31.00}?
This was a monthly payment. It should be processed properly.
|
| 09/27/2018 |
Yes |
|
- Struggling to pay mortgage
|
|
Web |
|
|
Please see the attached.
The issue is the Mortgage company, PennyMac , LLC, falsely reported my home vacant and was directly responsible for my Home Owners ' insurance being cancelled, etc.
|
| 07/16/2018 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Applying for a mortgage or refinancing an existing mortgage
|
|
Web |
|
|
Going thru modification with penny mac changed principal balance due and terms of loan from a fixed to a varible called several times single point contact to get hold underwtiting no response
|
| 08/17/2017 |
Yes |
|
- Struggling to pay mortgage
|
|
Web |
|
|
I 'm making a complaint about the company PennyMac. I did one modification and when l sold my property, I found out that they put out a second loan to XXXX XXXX XXXX without my authorization.
|
| 07/05/2017 |
Yes |
|
- Struggling to pay mortgage
|
|
Web |
|
|
My house appraisal is at 250k+.i owe XXXX on my house, Still PennyMac insists on charging me for mortgage insurance.I want mortgage insurance canceled since i have 120k+ equity in my house.
|
| 12/02/2023 |
Yes |
- Credit card
- General-purpose credit card or charge card
|
- Improper use of your report
- Credit inquiries on your report that you don't recognize
|
|
Web |
|
|
I WOULD LIKE TO REMOVE ALL INQUIRIES IN MY CREDIT CARDS ACCOUNTS WITH NO QUESTIONS ASK IF YOU COULD HELP ME TO REMOVE ALL INQUIRIES IN MY CREDIT CARDS ACCOUNTS, MORGAGES I WILL APPRECIATE.
|
| 01/28/2017 |
Yes |
- Mortgage
- Conventional fixed mortgage
|
- Loan servicing, payments, escrow account
|
|
Web |
Older American |
|
PennyMac, the mortgage company that services me refuses to report my payment history to the Credit Bureaus XXXX, XXXX etc..
my loan number is XXXX the address is XXXX XXXX my name is XXXX
|
| 01/29/2023 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
|
- Improper use of your report
- Reporting company used your report improperly
|
|
Web |
|
|
So, I financed my mortgage with your company which means there should be no late payments reported on my consumer credit report, all charges are within the amount I originally financed.
|
| 12/27/2021 |
Yes |
- Debt collection
- Mortgage debt
|
- Attempts to collect debt not owed
- Debt was result of identity theft
|
|
Web |
|
|
XX/XX/2021 an account was open in my name I did not give consent to anyone to benefit or utilize my authorized credit, nor authorized to sell or trade my information to a third party!
|
| 03/04/2019 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
|
- Incorrect information on your report
- Account information incorrect
|
|
Web |
Servicemember |
|
This account has been paid off In full but somehow during this process I guess the pay off was short due to getting the wrong info. This account also was never fully 30 days late.
|
| 07/23/2021 |
Yes |
|
- Trouble during payment process
|
|
Web |
Servicemember |
|
Penny Mac refuses to allow early partial payments of my mortgage. This seems like an intentional decision on the part of Penny Mac to make it difficult to make mortgage payments.
|
| 02/02/2021 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
|
- Problem with a credit reporting company's investigation into an existing problem
- Was not notified of investigation status or results
|
|
Web |
|
|
I have disputed this account and have reached out to the company/creditors MANY times but failed. This account is being reported inaccurately and incorrectly on my credit report.
|
| 03/07/2017 |
Yes |
- Mortgage
- Conventional adjustable mortgage (ARM)
|
- Loan modification,collection,foreclosure
|
|
Web |
Servicemember |
|
Based on the Foresnic Analysis, I discovered truth in lending and preditory violations in my loan. Therefore the third party debt collector ( PennyMac ) needs to be investigated.
|
| 12/13/2022 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Struggling to pay mortgage
|
|
Web |
|
|
I called Pennymac today ( XX/XX/13 ) and I asked about doing a three months forbearance due to financial hardship and they told me to just borrow money from friends and family.
|
| 10/06/2021 |
Yes |
|
- Problem with a credit reporting company's investigation into an existing problem
- Their investigation did not fix an error on your report
|
|
Web |
|
|
I have raised a dispute on this account and attempted to contact the company/creditors several times without success. On my credit record, this account is incorrectly reported.
|
| 10/17/2019 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
|
- Incorrect information on your report
- Account status incorrect
|
|
Web |
|
|
I was told by Penny Mac supervisor that they are not showing a late payment for my previous account. However, when I checked my credit report its showing my account was late
|
| 09/01/2022 |
Yes |
|
- Trouble during payment process
|
|
Web |
|
|
Predatory payments on 4.25 % interest rates were payments don't match amount financed. Required way over recommended down payment as well at closing for a fha home purchase
|
| 09/23/2021 |
Yes |
- Payday loan, title loan, or personal loan
- Payday loan
|
- Received a loan you didn't apply for
|
|
Web |
|
|
I had received a text message for this loan service I have not applied for. I got a verification message from this company and I have a picture of the message as well.
|
| 02/21/2019 |
Yes |
|
- Struggling to pay mortgage
|
|
Web |
|
|
I received a forbarence, was not communicated he process. I have also been dealing with medical issues, Now they are trying to charge me extra for not understanding!
|
| 11/07/2023 |
Yes |
- Debt or credit management
- Mortgage modification or foreclosure avoidance
|
- Didn't provide services promised
|
|
Web |
|
|
I have made several attempts to communicate directly with PENNYMAC BANK CEO, but was unsuccessful. I would like a direct response from XXXX XXXX XXXX XXXX ( XXXX ).
|
| 05/23/2019 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Applying for a mortgage or refinancing an existing mortgage
|
|
Web |
|
|
My current servicer sent me an offer to refinance. They can not possibly fund anyones loan under the terms presented. This is a bate and switch false advertising.
|
| 01/06/2022 |
Yes |
|
- Incorrect information on your report
- Account information incorrect
|
|
Web |
Servicemember |
|
My mortgage has been paid in full but it's still reporting on my credit report opened and reporting a balance and it's affecting my ability to obtain new credit.
|
| 04/01/2020 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Struggling to pay mortgage
|
|
Web |
|
|
During the coronavirus pandemic. Pennymac loans will not defer payments when people are out of work. I called and they said they said they wont unless forced to.
|
| 06/26/2021 |
Yes |
|
- Applying for a mortgage or refinancing an existing mortgage
|
|
Web |
|
|
I am requesting lender to remove PMI XXXX XXXX and lender not get information how is appropriate PMI cancellation procedures.
Lender Refuses to Cancel the PMI
|
| 07/22/2023 |
Yes |
|
- Incorrect information on your report
- Account information incorrect
|
|
Web |
|
|
I have a mortgage with Pennymac have been trying to dispute some information that been reported innacurate since 2019, but the company refuse to talk to me.
|
| 01/05/2023 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
|
- Problem with a credit reporting company's investigation into an existing problem
- Their investigation did not fix an error on your report
|
|
Web |
|
|
This is an old account that has been paid off and closed years ago. It is being illegally reported and I would like it to be removed from my credit report.
|
| 05/21/2019 |
Yes |
|
- Trouble during payment process
|
|
Web |
Servicemember |
|
PennyMac did not pay my taxes out of my escrow account when they were due. I have received an letter from the tax collector stating my taxes are overdue.
|
| 07/08/2018 |
Yes |
- Mortgage
- Conventional home mortgage
|
|
|
Web |
|
|
I paid off my loan with Pennymac Mortgage and they continually refused to return my original loan documents and original signed promissory mortgage note.
|
| 03/23/2018 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Struggling to pay mortgage
|
|
Web |
|
|
To : CFPB To whom it may concern ' XXXX see my attached amendment of my complaint against XXXX XXXX XXXX, XXXX Thank u very much ...
XXXX XXXX XXXX
|
| 06/08/2020 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
|
- Problem with a credit reporting company's investigation into an existing problem
- Their investigation did not fix an error on your report
|
|
Web |
|
|
I was shocked when I reviewed my credit report and found late payment on the dates below : PENNYMAC LOAN SERVIC XXXX, XXXX, XXXX XXXX, XXXX XXXX XXXX
|
| 02/12/2019 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
|
|
My financial Institution sends payment to Penny Mac every month and when their statement arrives at my house it is showing 2 months in default again.
|
| 02/12/2021 |
Yes |
|
- Trouble during payment process
|
|
Web |
|
|
Penny mac has taken two payments from us. They admitted it was their error. We are having trouble having the money put back in our account. Help.
|
| 01/09/2022 |
Yes |
|
- Struggling to pay mortgage
|
|
Web |
Servicemember |
|
I am divorced fir over a year and my ex put my banking account on her mortgage account for payment. I am having trouble getting the money back.
|
| 12/26/2015 |
Yes |
|
- Loan servicing, payments, escrow account
|
|
Web |
|
|
I paid my mortgage company, but they are not acknowdging payment. My bank ( XXXX ) has verified that Penny Mac received payment on XX/XX/XXXX.
|
| 01/26/2022 |
Yes |
|
- Applying for a mortgage or refinancing an existing mortgage
|
|
Web |
|
|
I have asked Penny Mac to refrain from calling me with " refinance '' solicitations however, my request was ignored and calls did not cease.
|
| 04/20/2023 |
Yes |
|
- Trouble during payment process
|
|
Web |
Servicemember |
|
The mortgage company charged fees and assessed interest on miss payments when the entire country was protected by COVID relief legislation.
|
| 05/21/2020 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
|
- Incorrect information on your report
- Account status incorrect
|
|
Web |
Servicemember |
|
Paid Of my PennyMac loan. Took weeks to show on credit report as paid off.
Added 3 late payments to credit report which did not happen.
|
| 09/12/2020 |
Yes |
|
- Trouble during payment process
|
|
Web |
|
|
Pennymac failed to pay our insurance premium from the escrow account and our homeowners insurance policy cancelled with XXXX XXXX XXXX.
|
| 03/27/2019 |
Yes |
|
- Applying for a mortgage or refinancing an existing mortgage
|
|
Web |
|
|
Can not refinance due to previous bankruptcy information. Also because of the poor credit score due to this and other factors.
|
| 12/09/2022 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
|
- Improper use of your report
- Reporting company used your report improperly
|
|
Web |
|
|
A creditor May not payment on a credit card account under any open end consumer report credit plan as late for purpose.
|
| 12/17/2021 |
Yes |
- Mortgage
- Other type of mortgage
|
- Trouble during payment process
|
|
Web |
Older American, Servicemember |
|
XXXXXXXX XXXX did nothing wrong mortgage Company lies on XXXX XXXX workers Pennymac was the Company doing illegal work
|
| 04/28/2021 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Applying for a mortgage or refinancing an existing mortgage
|
|
Web |
|
|
applied for refinance with current mortgage company, did not receive required Loan estimate with time period required
|
| 10/21/2015 |
Yes |
- Mortgage
- Conventional adjustable mortgage (ARM)
|
- Loan servicing, payments, escrow account
|
|
Web |
|
|
I am disputing XXXX conflicting payoff amounts a week apart for a mortgage that increased the amount by almost XXXX $
|
| 11/15/2021 |
Yes |
|
- Struggling to pay mortgage
|
|
Web |
|
|
The mortgage company rekeyed door to the house. I have asked for a lockbox be placed so we can get a copy of the key
|
| 10/24/2018 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
|
- Incorrect information on your report
- Information belongs to someone else
|
|
Web |
|
|
the credit company reporting inaccurate information causing me higher rate on everything fcra violation and FTC
|
| 03/24/2023 |
Yes |
|
- Trouble during payment process
|
|
Web |
Servicemember |
|
Monthly statement shows I am a month behind when I am currently caught up and will be ahead on the XXXX again.
|
| 08/27/2018 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
|
- Incorrect information on your report
- Account status incorrect
|
|
Web |
|
|
Two of my credit reports are showing past due with incorrect amounts due and owning. The account is current
|
| 09/10/2020 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
|
- Problem with a credit reporting company's investigation into an existing problem
- Difficulty submitting a dispute or getting information about a dispute over the phone
|
|
Web |
|
|
XX/XX/XXXX my score dropped 41 pints due to a balance increase of XXXX while my account is in forbearance
|
| 07/10/2017 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
|
|
For the second time the loan company has not paid the bills for insurance and property tax on time.
|
| 09/19/2022 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Struggling to pay mortgage
|
|
Web |
|
|
Hi the state submitted payment for my mortgage and it hasn't been applied to my account for weeks.
|
| 10/16/2018 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
|
- Problem with a credit reporting company's investigation into an existing problem
- Problem with personal statement of dispute
|
|
Web |
|
|
Pennymac my home loan said that i put my mortgage on hold. on my credit report but that not true
|
| 04/28/2016 |
Yes |
- Mortgage
- Home equity loan or line of credit
|
- Loan modification,collection,foreclosure
|
|
Web |
Older American |
|
sale date XXXX XXXX notice from pennymac they say XXXX XXXX 2016 talk with XXXX XXXX and XXXX
|
| 12/09/2022 |
Yes |
- Debt collection
- I do not know
|
- Took or threatened to take negative or legal action
- Seized or attempted to seize your property
|
|
Web |
|
|
Complaint and demand for a copy of proof of payment for my property taxes in XXXX XXXX 2022.
|
| 08/13/2019 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
|
- Incorrect information on your report
- Account information incorrect
|
|
Web |
Servicemember |
|
For my mortgage. It shows that I'm 60 days past due for XXXX but I am only 30 days past due.
|
| 07/11/2017 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
|
|
Real estate tax escrow funds were collected but taxes were paid late, causing a late fee.
|
| 05/18/2016 |
Yes |
|
- Loan servicing, payments, escrow account
|
|
Web |
|
|
PennyMac is charging us for taxes although we are now tax exempt by XXXX County Texas.
|
| 10/22/2020 |
Yes |
|
- Incorrect information on your report
- Account status incorrect
|
|
Web |
|
|
XX/XX/XXXX, XX/XX/XXXX, & XX/XX/XXXX showed I didn't pay on time, this is inaccurate.
|
| 10/25/2016 |
Yes |
|
- Loan servicing, payments, escrow account
|
|
Web |
Older American |
|
I paid off my mortgage but my escrow balance has not been returned what should I do?
|
| 12/07/2022 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Applying for a mortgage or refinancing an existing mortgage
|
|
Web |
|
|
Please see letter attached that my Attorney sent to you and PennyMac Loan Servicing
|
| 02/02/2018 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
|
- Unable to get your credit report or credit score
- Other problem getting your report or credit score
|
|
Web |
Servicemember |
|
i was told by refinance company that 3 credit burears reported that iam XXXX
|
| 01/04/2021 |
Yes |
|
- Struggling to pay mortgage
|
|
Web |
|
|
BANK WONT TAKE MY PAYEMNTS UNLESS I PAY FULL AMOUNT BEHIND ON
|
| 10/13/2023 |
Yes |
- Money transfer, virtual currency, or money service
- Domestic (US) money transfer
|
- Other transaction problem
|
|
Web |
|
|
Mortgage company is withholding my insurance check
|
| 02/02/2024 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
- Escrow, taxes, or insurance
|
|
Web |
|
|
|
| 02/02/2024 |
Yes |
|
- Closing on a mortgage
- Closing disclosure or other related disclosures
|
|
Web |
|
|
|
| 02/02/2024 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
- Payment process
|
|
Web |
|
|
|
| 02/01/2024 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Closing on a mortgage
- Trying to communicate with the company to fix an issue with the loan closing
|
|
Web |
|
|
|
| 02/01/2024 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
- Escrow, taxes, or insurance
|
|
Phone |
Older American |
|
|
| 02/01/2024 |
Yes |
- Credit reporting or other personal consumer reports
- Credit reporting
|
- Improper use of your report
- Received unsolicited financial product or insurance offers after opting out
|
|
Web |
|
|
|
| 02/01/2024 |
Yes |
- Mortgage
- Other type of mortgage
|
- Applying for a mortgage or refinancing an existing mortgage
- Delays in the application process
|
|
Web |
Older American |
|
|
| 01/30/2024 |
Yes |
|
- Incorrect information on your report
- Account information incorrect
|
|
Web |
|
|
|
| 01/30/2024 |
Yes |
|
- Trouble during payment process
- Trying to communicate with the company to fix an issue while managing or servicing your loan
|
|
Web |
Servicemember |
|
|
| 01/29/2024 |
Yes |
- Credit reporting or other personal consumer reports
- Credit reporting
|
- Incorrect information on your report
- Public record information inaccurate
|
|
Web |
|
|
|
| 01/28/2024 |
Yes |
- Credit reporting or other personal consumer reports
- Credit reporting
|
- Improper use of your report
- Reporting company used your report improperly
|
|
Web |
|
|
|
| 01/26/2024 |
Yes |
|
- Trouble during payment process
- Fees charged
|
|
Web |
|
|
|
| 01/26/2024 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Struggling to pay mortgage
- Foreclosure
|
|
Referral |
|
|
|
| 01/25/2024 |
Yes |
|
- Problem with a company's investigation into an existing problem
- Difficulty submitting a dispute or getting information about a dispute over the phone
|
|
Web |
|
|
|
| 01/25/2024 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
- Escrow, taxes, or insurance
|
|
Web |
Servicemember |
|
|
| 01/25/2024 |
Yes |
|
- Trouble during payment process
- Paying off the loan
|
|
Web |
Servicemember |
|
|
| 01/25/2024 |
Yes |
|
- Applying for a mortgage or refinancing an existing mortgage
- Application denials
|
|
Web |
|
|
|
| 01/25/2024 |
Yes |
|
- Struggling to pay mortgage
- Applying for or obtaining a modification, forbearance plan, short sale, or deed-in-lieu
|
|
Web |
|
|
|
| 01/24/2024 |
Yes |
|
- Struggling to pay mortgage
- Trying to communicate with the company to fix an issue related to modification, forbearance, short sale, deed-in-lieu, bankruptcy, or foreclosure
|
|
Web |
Servicemember |
|
|
| 01/24/2024 |
Yes |
- Debt collection
- Credit card debt
|
- Attempts to collect debt not owed
- Debt was result of identity theft
|
|
Web |
|
|
|
| 01/24/2024 |
Yes |
|
- Trouble during payment process
- Escrow, taxes, or insurance
|
|
Web |
|
|
|
| 01/23/2024 |
Yes |
- Credit reporting or other personal consumer reports
- Credit reporting
|
- Incorrect information on your report
- Account information incorrect
|
|
Web |
|
|
|
| 01/23/2024 |
Yes |
- Debt collection
- I do not know
|
- Written notification about debt
- Didn't receive enough information to verify debt
|
|
Web |
|
|
|
| 01/22/2024 |
Yes |
- Credit reporting or other personal consumer reports
- Credit reporting
|
- Problem with a company's investigation into an existing problem
- Their investigation did not fix an error on your report
|
|
Web |
|
|
|
| 01/22/2024 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
- Escrow, taxes, or insurance
|
|
Web |
Older American |
|
|
| 01/22/2024 |
Yes |
|
- Incorrect information on your report
- Account information incorrect
|
|
Web |
|
|
|
| 01/21/2024 |
Yes |
- Credit reporting or other personal consumer reports
- Credit reporting
|
- Incorrect information on your report
- Account status incorrect
|
|
Web |
|
|
|
| 01/20/2024 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
- Escrow, taxes, or insurance
|
|
Web |
|
|
|
| 01/19/2024 |
Yes |
|
- Struggling to pay mortgage
- Trying to communicate with the company to fix an issue related to modification, forbearance, short sale, deed-in-lieu, bankruptcy, or foreclosure
|
|
Web |
|
|
|
| 01/19/2024 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Struggling to pay mortgage
- Trying to communicate with the company to fix an issue related to modification, forbearance, short sale, deed-in-lieu, bankruptcy, or foreclosure
|
|
Web |
Servicemember |
|
|
| 01/19/2024 |
Yes |
|
- Closing on a mortgage
- Trying to communicate with the company to fix an issue with the loan closing
|
|
Web |
Servicemember |
|
|
| 01/18/2024 |
Yes |
|
- Trouble during payment process
- Trying to communicate with the company to fix an issue while managing or servicing your loan
|
|
Web |
Servicemember |
|
|
| 01/18/2024 |
Yes |
- Credit reporting or other personal consumer reports
- Credit reporting
|
- Improper use of your report
- Reporting company used your report improperly
|
|
Web |
|
|
|
| 01/17/2024 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Struggling to pay mortgage
- Trying to communicate with the company to fix an issue related to modification, forbearance, short sale, deed-in-lieu, bankruptcy, or foreclosure
|
|
Web |
Servicemember |
|
|
| 01/17/2024 |
Yes |
- Credit reporting or other personal consumer reports
- Credit reporting
|
- Incorrect information on your report
- Account information incorrect
|
|
Web |
|
|
|
| 01/15/2024 |
Yes |
- Credit reporting or other personal consumer reports
- Credit reporting
|
- Improper use of your report
- Reporting company used your report improperly
|
|
Web |
|
|
|
| 01/12/2024 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
- Trying to communicate with the company to fix an issue while managing or servicing your loan
|
|
Web |
Older American |
|
|
| 01/12/2024 |
Yes |
|
- Struggling to pay mortgage
- Foreclosure
|
|
Web |
|
|
|
| 01/12/2024 |
Yes |
|
- Trouble during payment process
- Trying to communicate with the company to fix an issue while managing or servicing your loan
|
|
Web |
Servicemember |
|
|
| 01/10/2024 |
Yes |
- Credit reporting or other personal consumer reports
- Credit reporting
|
- Problem with a company's investigation into an existing problem
- Problem with personal statement of dispute
|
|
Web |
|
|
|
| 01/09/2024 |
Yes |
|
- Trouble during payment process
- Trying to communicate with the company to fix an issue while managing or servicing your loan
|
|
Web |
Older American, Servicemember |
|
|
| 01/08/2024 |
Yes |
|
- Trouble during payment process
- Paying off the loan
|
|
Web |
|
|
|
| 01/07/2024 |
Yes |
|
- Trouble during payment process
- Private mortgage insurance (PMI)
|
|
Web |
|
|
|
| 01/07/2024 |
Yes |
|
- Trouble during payment process
- Escrow, taxes, or insurance
|
|
Web |
Servicemember |
|
|
| 01/06/2024 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
- Private mortgage insurance (PMI)
|
|
Web |
|
|
|
| 01/05/2024 |
Yes |
|
- Trouble during payment process
- Escrow, taxes, or insurance
|
|
Web |
|
|
|
| 01/04/2024 |
Yes |
|
- Trouble during payment process
- Lien release
|
|
Web |
|
|
|
| 01/04/2024 |
Yes |
- Credit reporting or other personal consumer reports
- Credit reporting
|
- Improper use of your report
- Reporting company used your report improperly
|
|
Web |
|
|
|
| 12/31/2023 |
Yes |
|
- Trouble during payment process
- Trying to communicate with the company to fix an issue while managing or servicing your loan
|
|
Web |
Older American |
|
|
| 12/29/2023 |
Yes |
|
- Struggling to pay mortgage
- Applying for or obtaining a modification, forbearance plan, short sale, or deed-in-lieu
|
|
Web |
Servicemember |
|
|
| 12/29/2023 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Closing on a mortgage
- Trying to communicate with the company to fix an issue with the loan closing
|
|
Web |
|
|
|
| 12/27/2023 |
Yes |
- Credit reporting or other personal consumer reports
- Credit reporting
|
- Incorrect information on your report
- Account status incorrect
|
|
Web |
|
|
|
| 12/27/2023 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
- Payment process
|
|
Web |
|
|
|
| 12/24/2023 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Applying for a mortgage or refinancing an existing mortgage
- Application denials
|
|
Web |
|
|
|
| 12/23/2023 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
- Escrow, taxes, or insurance
|
|
Web |
|
|
|
| 12/22/2023 |
Yes |
|
- Incorrect information on your report
- Account information incorrect
|
|
Web |
Servicemember |
|
|
| 12/21/2023 |
Yes |
|
- Closing on a mortgage
- Fees or costs after closing
|
|
Web |
Servicemember |
|
|
| 12/21/2023 |
Yes |
|
- Applying for a mortgage or refinancing an existing mortgage
- Trying to communicate with the company to fix an issue with the application process
|
|
Web |
Older American |
|
|
| 12/20/2023 |
Yes |
|
- Closing on a mortgage
- Trying to communicate with the company to fix an issue with the loan closing
|
|
Web |
Older American, Servicemember |
|
|
| 12/18/2023 |
Yes |
|
- Applying for a mortgage or refinancing an existing mortgage
- Fees or costs during the application process
|
|
Phone |
Older American |
|
|
| 12/18/2023 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
- Payment process
|
|
Web |
|
|
|
| 12/18/2023 |
Yes |
- Credit reporting or other personal consumer reports
- Credit reporting
|
- Improper use of your report
- Reporting company used your report improperly
|
|
Web |
|
|
|
| 12/17/2023 |
Yes |
|
- Applying for a mortgage or refinancing an existing mortgage
- Negative impact of inaccurate appraisal
|
|
Web |
|
|
|
| 12/16/2023 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
- Trying to communicate with the company to fix an issue while managing or servicing your loan
|
|
Web |
|
|
|
| 12/15/2023 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Closing on a mortgage
- Trying to communicate with the company to fix an issue with the loan closing
|
|
Phone |
Servicemember |
|
|
| 12/12/2023 |
Yes |
- Credit reporting or other personal consumer reports
- Credit reporting
|
- Incorrect information on your report
- Account information incorrect
|
|
Web |
|
|
|
| 12/12/2023 |
Yes |
|
- Closing on a mortgage
- Closing disclosure or other related disclosures
|
|
Web |
|
|
|
| 12/07/2023 |
Yes |
- Debt collection
- Mortgage debt
|
- Attempts to collect debt not owed
- Debt was already discharged in bankruptcy and is no longer owed
|
|
Web |
|
|
|
| 12/06/2023 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Incorrect information on your report
- Account information incorrect
|
|
Web |
|
|
|
| 12/05/2023 |
Yes |
|
- Applying for a mortgage or refinancing an existing mortgage
- Confusing or misleading advertising or marketing
|
|
Referral |
|
|
|
| 11/29/2023 |
Yes |
|
- Trouble during payment process
- Escrow, taxes, or insurance
|
|
Web |
Servicemember |
|
|
| 11/25/2023 |
Yes |
- Credit reporting or other personal consumer reports
- Credit reporting
|
- Improper use of your report
- Reporting company used your report improperly
|
|
Web |
|
|
|
| 11/24/2023 |
Yes |
|
- Applying for a mortgage or refinancing an existing mortgage
- Changes in loan terms during the application process
|
|
Web |
|
|
|
| 11/23/2023 |
Yes |
- Credit reporting or other personal consumer reports
- Credit reporting
|
- Problem with a company's investigation into an existing problem
- Their investigation did not fix an error on your report
|
|
Web |
|
|
|
| 11/23/2023 |
Yes |
- Debt collection
- I do not know
|
- Written notification about debt
- Didn't receive enough information to verify debt
|
|
Web |
|
|
|
| 11/17/2023 |
Yes |
- Credit reporting or other personal consumer reports
- Credit reporting
|
- Incorrect information on your report
- Account information incorrect
|
|
Web |
Servicemember |
|
|
| 11/17/2023 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Struggling to pay mortgage
- Trying to communicate with the company to fix an issue related to modification, forbearance, short sale, deed-in-lieu, bankruptcy, or foreclosure
|
|
Web |
|
|
|
| 11/16/2023 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
- Escrow, taxes, or insurance
|
|
Web |
|
|
|
| 11/16/2023 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
- Trying to communicate with the company to fix an issue while managing or servicing your loan
|
|
Web |
|
|
|
| 11/15/2023 |
Yes |
|
- Struggling to pay mortgage
- Trying to communicate with the company to fix an issue related to modification, forbearance, short sale, deed-in-lieu, bankruptcy, or foreclosure
|
|
Web |
|
|
|
| 11/13/2023 |
Yes |
|
- Struggling to pay mortgage
- An existing modification, forbearance plan, short sale, or other loss mitigation relief
|
|
Web |
Servicemember |
|
|
| 11/12/2023 |
Yes |
- Credit reporting or other personal consumer reports
- Credit reporting
|
- Improper use of your report
- Reporting company used your report improperly
|
|
Web |
|
|
|
| 11/08/2023 |
Yes |
|
- Improper use of your report
- Reporting company used your report improperly
|
|
Web |
|
|
|
| 11/08/2023 |
Yes |
- Credit reporting or other personal consumer reports
- Credit reporting
|
- Incorrect information on your report
- Account status incorrect
|
|
Web |
Servicemember |
|
|
| 11/07/2023 |
Yes |
- Credit reporting or other personal consumer reports
- Credit reporting
|
- Incorrect information on your report
- Account status incorrect
|
|
Web |
|
|
|
| 11/07/2023 |
Yes |
|
- Applying for a mortgage or refinancing an existing mortgage
- Trying to communicate with the company to fix an issue with the application process
|
|
Web |
|
|
|
| 10/29/2023 |
Yes |
|
- Trouble during payment process
- Escrow, taxes, or insurance
|
|
Web |
|
|
|
| 10/29/2023 |
Yes |
- Debt collection
- Mortgage debt
|
- Attempts to collect debt not owed
- Debt was paid
|
|
Web |
|
|
|
| 10/27/2023 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
- Escrow, taxes, or insurance
|
|
Phone |
Servicemember |
|
|
| 10/24/2023 |
Yes |
|
- Trouble during payment process
- Private mortgage insurance (PMI)
|
|
Web |
|
|
|
| 10/23/2023 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
- Escrow, taxes, or insurance
|
|
Web |
|
|
|
| 10/20/2023 |
Yes |
|
- Trouble during payment process
- Payment process
|
|
Web |
|
|
|
| 10/18/2023 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
- Payment process
|
|
Web |
|
|
|
| 10/18/2023 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Struggling to pay mortgage
- Foreclosure
|
|
Web |
Servicemember |
|
|
| 10/13/2023 |
Yes |
|
- Struggling to pay mortgage
- An existing modification, forbearance plan, short sale, or other loss mitigation relief
|
|
Web |
Servicemember |
|
|
| 10/11/2023 |
Yes |
|
- Trouble during payment process
- Escrow, taxes, or insurance
|
|
Web |
|
|
|
| 10/10/2023 |
Yes |
|
- Trouble during payment process
- Trying to communicate with the company to fix an issue while managing or servicing your loan
|
|
Phone |
|
|
|
| 10/08/2023 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Struggling to pay mortgage
- An existing modification, forbearance plan, short sale, or other loss mitigation relief
|
|
Web |
Servicemember |
|
|
| 10/02/2023 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
- Escrow, taxes, or insurance
|
|
Web |
|
|
|
| 10/02/2023 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
- Escrow, taxes, or insurance
|
|
Web |
|
|
|
| 09/30/2023 |
Yes |
- Credit reporting or other personal consumer reports
- Credit reporting
|
- Incorrect information on your report
- Account information incorrect
|
|
Web |
|
|
|
| 09/28/2023 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
- Escrow, taxes, or insurance
|
|
Web |
|
|
|
| 09/28/2023 |
Yes |
- Credit reporting or other personal consumer reports
- Credit reporting
|
- Problem with a company's investigation into an existing problem
- Problem with personal statement of dispute
|
|
Web |
Older American |
|
|
| 09/27/2023 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
- Payment process
|
|
Web |
|
|
|
| 09/26/2023 |
Yes |
|
- Struggling to pay mortgage
- Trying to communicate with the company to fix an issue related to modification, forbearance, short sale, deed-in-lieu, bankruptcy, or foreclosure
|
|
Web |
|
|
|
| 09/20/2023 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
- Private mortgage insurance (PMI)
|
|
Web |
|
|
|
| 09/18/2023 |
Yes |
- Credit reporting or other personal consumer reports
- Credit reporting
|
- Incorrect information on your report
- Account status incorrect
|
|
Web |
|
|
|
| 09/17/2023 |
Yes |
- Credit reporting or other personal consumer reports
- Credit reporting
|
- Improper use of your report
- Reporting company used your report improperly
|
|
Web |
|
|
|
| 09/16/2023 |
Yes |
- Credit reporting or other personal consumer reports
- Credit reporting
|
- Improper use of your report
- Reporting company used your report improperly
|
|
Web |
|
|
|
| 09/13/2023 |
Yes |
|
- Trouble during payment process
- Private mortgage insurance (PMI)
|
|
Web |
|
|
|
| 09/13/2023 |
Yes |
- Credit reporting or other personal consumer reports
- Credit reporting
|
- Incorrect information on your report
- Account status incorrect
|
|
Web |
|
|
|
| 09/12/2023 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
- Private mortgage insurance (PMI)
|
|
Web |
|
|
|
| 09/06/2023 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
- Payment process
|
|
Web |
|
|
|
| 09/01/2023 |
Yes |
|
- Trouble during payment process
- Escrow, taxes, or insurance
|
|
Web |
Servicemember |
|
|
| 08/31/2023 |
Yes |
|
- Trouble during payment process
- Escrow, taxes, or insurance
|
|
Web |
Servicemember |
|
|
| 08/30/2023 |
Yes |
|
- Closing on a mortgage
- Closing disclosure or other related disclosures
|
|
Web |
|
|
|
| 08/30/2023 |
Yes |
|
- Trouble during payment process
- Escrow, taxes, or insurance
|
|
Web |
|
|
|
| 08/30/2023 |
Yes |
|
- Trouble during payment process
- Fees charged
|
|
Web |
Servicemember |
|
|
| 08/29/2023 |
Yes |
|
- Closing on a mortgage
- Closing disclosure or other related disclosures
|
|
Web |
|
|
|
| 08/26/2023 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Struggling to pay mortgage
- Trying to communicate with the company to fix an issue related to modification, forbearance, short sale, deed-in-lieu, bankruptcy, or foreclosure
|
|
Web |
|
|
|
| 08/25/2023 |
Yes |
|
- Closing on a mortgage
- Fees or costs after closing
|
|
Web |
|
|
|
| 08/21/2023 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Phone |
|
|
|
| 08/19/2023 |
Yes |
|
- Struggling to pay mortgage
|
|
Web |
|
|
|
| 08/17/2023 |
Yes |
- Debt collection
- Mortgage debt
|
- Attempts to collect debt not owed
- Debt was paid
|
|
Web |
|
|
|
| 08/17/2023 |
Yes |
|
- Trouble during payment process
|
|
Web |
|
|
|
| 08/17/2023 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
|
- Improper use of your report
- Reporting company used your report improperly
|
|
Web |
|
|
|
| 08/16/2023 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Phone |
|
|
|
| 08/14/2023 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Phone |
|
|
|
| 08/11/2023 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Struggling to pay mortgage
|
|
Web |
|
|
|
| 08/08/2023 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Phone |
|
|
|
| 08/08/2023 |
Yes |
- Mortgage
- Home equity loan or line of credit (HELOC)
|
- Applying for a mortgage or refinancing an existing mortgage
|
|
Web |
|
|
|
| 08/08/2023 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
|
- Improper use of your report
- Reporting company used your report improperly
|
|
Web |
Servicemember |
|
|
| 08/06/2023 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
|
- Improper use of your report
- Reporting company used your report improperly
|
|
Web |
|
|
|
| 08/06/2023 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
|
- Incorrect information on your report
- Account information incorrect
|
|
Web |
Servicemember |
|
|
| 08/06/2023 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
|
- Incorrect information on your report
- Account information incorrect
|
|
Web |
Older American |
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| 07/31/2023 |
Yes |
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- Trouble during payment process
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Web |
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