PENNYMAC Reviews 2,042

CUSTOMER SERVICE WAS GREAT.

I was quoted one cash back price. I wasn't told that I got less money until I was signing paperwork. One closing was canceled and I was never told. It wasn't the best experience. Closing cost was triple that I have experience in past. I did get a great rate, but the lack of communication made me feel like I got ripped off.

Mina was amazing to work with, he went above and beyond to make sure we were satisfied. He always answered my questions. He was very communicative with us and I appreciate that so much.

Easy process

Our Loan Officer Ryan Lawrence was terrific. He helped us when we were uncertain how much to borrow. We changed our mind twice but with his help we feel that we came to the best decision
Also, he is a very personable guy.
Enjoyed talking with him.

The worst loan servicer I have ever had. They refuse to pay our homeowners insurance every single year. My husband calls every year to yell at them for it. We have 2 houses on our property which were here when we bought the property. One was not liveable, so we fixed it. Then we wanted to insure it. They can't understand that there is a second livable structure on the property, so they refuse to pay the bill of $163. That insurance has been canceled now by our insurance company. Our insurance company tried for at least 2 months to get paid. Today, I received a notice from Penny Mac that we no longer have hazard insurance on our main house and they are going to charge us for it. We don't have it because Penny Mac didn't pay our @#$%in' policy! They are the absolute worst and if we could refinance with someone else, we would. When we can, we will. Stay away. They are TERRIBLE. For those that are wondering, we have enough in escrow. Penny Mac just sucks and keeps money that isn't theirs. This isn't the first time we have had to pry our money out of their hands. We had a significant overage in escrow ($3800) and they wouldn't give it to us. My husband was able to intercept it via the insurance company. Then Penny Mac tried to collect it from us. I can't stess enough how bad they are. Use anyone else.

PennyMac won’t send Monthly Statements but will NOT STOP weekly aggressive marketing letters in my mailbox to get me to rewrite my mortgage with them or take a second mortgage.

Repeatedly I requested to STOP!!!
Calls, emails and returned their mail!PennyMac will not listen.

Took months to address ESCROW accounts’ errors for insurance and taxes.

AVOID at ALL COSTS! No Wonder reviews in toilet (1 or less)!

Actually if a 0 that is what review ratings would be!

Great experience

I have to give all the credit during my loan process to Ryan and Carmen. The communication, knowledge, and professionalism is unlike any other I have dealt with in the past. They made the process smooth and answered any time I called with a question.

Very responsive. I really appreciate all the work has done and very professional.

Everything went smoothly

Quick, easy, and was informed of status and needs throughout the whole process.

It was thorough. Answered all my questions or concerns. Provided timely information.

Excellent response time when enquiring...Very diligent, fast and efficient. We were very pleased with the team that assisted us in making the right choice to better are property and our quality of life.

Everyone was very helpful and responded quickly to our questions.

Our experience was unfortunately not a positive one, and based on it, we would not choose to use your services again.

Communication throughout the process was poor, and the overall timeline took significantly longer than expected. We were initially told that we would not be responsible for any late fees resulting from your delays, but ultimately we were charged those fees anyway.

Additionally, when we received the final closing numbers, they were nearly $10,000 higher than the original estimate, with no prior communication or explanation. Fortunately, my wife reviewed the documents carefully before signing and identified the discrepancy. Even after bringing the issue to your attention, it took multiple follow-up calls and emails from us to receive updates and get the numbers corrected.

Once we were informed that everything had been fixed, a notary appointment was scheduled. However, the day the notary was supposed to arrive, the paperwork was still incorrect. My wife then had to spend the majority of her day working with your team to ensure the documents were corrected so that we could avoid rescheduling the notary and still close by the end of the month.

Finally, when it came time to wire the required funds, we were not provided with the necessary wiring instructions. Once again, my wife had to spend additional time reaching out for information and taking time away from work to get the matter resolved.

Throughout this process, we felt that we were repeatedly responsible for identifying errors, following up for updates, and ensuring critical items were completed correctly. The lack of proactive communication and the number of issues encountered made what should have been a straightforward process unnecessarily stressful. As a result, we would not use your services again and would be hesitant to recommend them to others.

Brooke and Marvin made my experience the best. They over achieved any expectations I had and made sure I got my home. I will be requesting them specifically on my next home purchase

There were several people involved with this transaction, and they all kept me informed of every move. They offered me assistance along the way. They were cordial and knowledgeable.

Thanks for the help through the whole process. Karen made everything easy. She went over and beyond, I appreciate it.