PENNYMAC Reviews 1,755

LAURA my loan officer was wonderful. The rest of experience aside from settlement was very unpleasant. The no show for the first settlement, the calls with confusing messages,the no show for the second settlement after I scheduled it, the constant changes in what to bring cash to close, communication with the back end to my loan officer, I took screen shot how setting up the third settlement took 25 minutes till I finally hung up and Laura set it up in five minutes, The people on the back end being so confused on what they were doing, endless phone calls. I was promised $250 off of settlement costs which I did not see on the sheet. Needless to say I am also a realtor and steer away from pennymac.

Quick and efficient. Thank you!!!

loved the online portal to upload all docs, and response from the team was quick.

The service was really bad. I would not recommend them.

My goal was to refinance the existing balance at a lower APR. The loan request process was easy and quick, as was approval. We closed in 15 days after initiating the request. Scott Park and his staff were very friendly and diligent to get approval and closing done fast. Thank you all.

Very confusing process and I felt the team at PennyMac handling my refinance was not in communication with each other. The process took 60 long days for a refinance because the PennyMac portal would not take large packets of paperwork. It took 30-days of expressing concern about having to resubmit the same paperwork several times that someone at PennyMac communicated there was a document link on the top right hand corner of the portal to upload and view downloaded documents in the PennyMac portal. After 30-days an explanation was given to me on how to use a different avenue when downloading large files to the portal and processing became easy.
The loan documents were incorrect at signing and the signing needed to be rescheduled. The supervisor gave me a $500 credit for closing costs which was nice but not enough to compensate me for my time and frustration with the 60-day refinance process. I am a realtor and would not recommend PennyMac to my clients because of closing date extensions, confusing process, to many people handling a transaction and the ability to talk directly to a loan processor.

My refinance experience was so much easier than I anticipated going in. From the application process, which was literally only a half hour, to the ongoing providing of forms and required information, both Pennymac employees were efficient, friendly, helpful, certainly knew what they were doing and friendly. They made it easy for me. It really was a painless experience. I would recommend Pennymac and in particular the two staff members I worked with anytime.

Good customer service. Kayla and Adam were responsive and helpful.

Contacted me when I was down and out, for this house, but she made the process easy and fast and relieved me of my financial burden

The whole process was fast and easy, everyone was great to work with and done a great job

We had an excellent experience with Penny Mac. They have been our mortgage servicer for many years. I was actually surprised to see the negative reviews. Only positive for us!!!!

Matthew was extremely patient and walked me through the process several times in order for me to receive my 1098. He was kind and sincere. Thank you Pennymac for providing employees like Matthew

PennyMac Loan Services, LLC is a FAKE company whose name is used by various investment banks, hedge funds and fintech Servicers to defraud homeowners. After PennyMac Financial, Inc allegedly "sold" its Mortgage Servicing Rights to hedge fund Annaly Capital Management, I keep getting false and misleading "billing statements" from fintech Servicer Venture Solutions, Inc which do not reflect amounts I paid and false "quotes" from fintech Servicer Nordis, LLC - who impersonate as "PennyMac Loan Services, LLC". When I speak with call centers employees - they have no clue about any amounts - because they read all information from master fintech Servicer Fidelity National Financial, Inc MSP platform

We have used PennyMac exclusively since 2014 through three purchases and one refinance. While there were always moments of frustration, they were few and far between, and the loan officers and team leaders never treated my wife and I like just a (loan) number. So whatever 2-3 star ratings or less are out there, sorry - but we haven’t used them for 11 years because they didn’t care or weren’t professional. This go around (purchase of our - hopefully - “Forever” home), Nick B. and Grace S. were simply incredible. We started the initial loan process on March 5th, and by yesterday (April 3rd) our loan was FULLY FUNDED! Our advice to the naysayers out there: research EVERY possible document you may need to provide and the ones you already have or can access lined up and ready to go as best you can. Create PDFs, files, lists of phone contacts for employment and financials, etc. The more you already know and prepare for, the less you will feel like PennyMac is the problem along the way!

It was a very nice start, then I was having to provide information to multiple people multiple times. They were asking for the same information that was already provided. Felt like they have made it impossible to get a loan from them.

During government shutdown, they offered a payment plan which was wonderful at first. However, simultaneously they did credit reporting which affects the credit scores. This is never discussed during the planning by the agents; however, seems to be written in their policy. No one reads it! They don’t have a good customer support and are not willing to really help.

Penny Mac was an awful mortgage lender from the start! The agent they set me up with was not timely with responses at all it would take days for him to respond to me! I eventually got in touch with his manager who then told me my agent was approving me for homes $50,000 out of my actual approval range AND he wasn’t even licensed in the state that I was sending him house for! The manager had nothing to even say about how awful that is to do to someone! What if I got an offer accepted on a home in the price that he was writing me preapprovals for and then it came down to closing and they said these numbers don’t work for you after all?! absolutely insane! I would NEVER recommend them to anybody!

Worst mortgage lender ever. Customer service agents are hard to understand with very thick accents. The system automatically moves money from suspense accounts to principal reductions even though the agents are applying the money to the suspense account. No process for customer to setup anything but a monthly auto-pay...no bi-monthly or weekly payments. No process for customer to setup custom auto-pay payments...paying extra towards escrow or principal. After 4 months, I'm still working with agents and supervisors to fix bi-monthly auto-payments.

Awful. It’s nearly impossible to get a real person on the line. It took me 10 minutes to speak with a real representative. The AI agents they’re using is garbage. Then when I finally did get a real agent. I could barely understand them. I don’t recommend this company.