Pennymac Overview
Pennymac has a 1.5-star rating, derived from feedback provided by 652 customers. In the Loans and Mortgages category, it secures the 10th position out of 671 companies.
Rating
Contact Information
Website
www.pennymac.com
Phone
(866) 549-3583
3043 Townsgate Rd, Suite 200, Westlake Village, California, 91361, United States
Pennymac Reviews
Caydee
They are being Shystie
We are not even done with the work on the house and weve had nothing but a run around with them. Now they want us to sign a document saying no matter what we wont sue or we wont release your money. What is that about the works not done you guys have been lying to us every step of the way, and now you want us to sign some document, saying no matter what no matter what we do no matter what we say you cant sue us, I get signing something stating that you will pay off the contractors, but that no matter what penny Mac does you cant sue them I dont think so and that youre going to hold our money back so that we cant pay the contractors unless we sign that. Im sorry but that just sounds Shystie to me. This whole process has been horrible. Absolutely horrible , Im really not sure why they are allowed to get away with the stuff that they do to people. Maybe its because they have people sign this document stating you cant sue them or we wont give you your money that seems pretty illegal to me seems like blackmail just my opinion .
MCMLM
They Lie
The saga continues. I posted yesterday about the troubles I am experiencing with PennyMac and Insuranceclaimcheck.com. At their instruction, I called again at 8:00 am pst on the dot in hopes of speaking with someone on the Resolutions Team. Yesterday's customer service rep assured me I would have no problem reaching a team member. I have been on hold for 17 minutes and counting. At this point I think PennyMac and their third party vendors are simply full of lies. They have no desire to help their customers. I am literally begging these people to return my money to me so I can have an air conditioning unit installed in their house. Even though I live there and hope to own the property one day let's be honest...the house belongs to PennyMac. Why am I begging them to use my insurance money to fix their property? This is the craziest thing I have ever heard of. Now if I pack my bags and leave the house with no AC and no kitchen appliances they would say I was wrong! So now I have been holding 24 minutes. I need my insurance check to pay for the AC. I cannot pay him in installments people!
MCMLM
Poor Customer Service and Problem Resolution Skills
Updated by user Aug 24, 2023
I am going to switch mortgage companies as soon as I am able. With any luck I won't have another emergency where I need to depend on PennyMac to come to my rescue before I am able change companies.
Original review Aug 23, 2023
My home was struck by lightning in June. We lost the downstairs AC unit and kitchen appliances. Due to replacement costs we decided to file an insurance claim. The check was made payable to my husband and PennyMac. Because the temperatures are over 100 degrees in Mississippi we needed to expedite getting the check endorsed and returned to us. Little did I know I was in for the Battle Royale! I called PennyMac to learn the appropriate steps for overnighting the check. Armed with instructions I immediately created a profile on Insuranceclaimchecks.com and discovered the process for getting the funds returned to me were unsatisfactory. I called PennyMac again and explained my circumstances and asked that my check be expedited and that the full amount of the funds be released at once. I uploaded the required documentation and provided the estimate for the AC unit to support the need for a lump sum payment. I called again to verify receipt, then again a day or so later to check the status and remind them to pay a lump sum and overnight the check. Today I received a text message requesting that I set up an appointment for inspection. Inspection??? What are you inspecting? Where's my check. I called PennyMac only to learn a partial payment of less than $4,000 was generated. What can I do with $4,000 when the unit cost approx $15,000? Despite multiple calls and chat messages no one in the claims department can help. There are no managers. The resolutions department had a higher than usual call. I waited on hold for over an hour and no one from resolutions ever answered. I called every department at PennyMac I could reach and they all sent me right back to claims where I was told the same thing. There are no managers, no other departments, the do not have a number for corporate, they don't take complaints, the resolutions team will call me in 24-48 hours, an I can try to reach resolutions tomorrow at 8 am pst. None of those answers are satisfactory! Meanwhile I have to go back home where the temperature inside is 91 degrees at night and my flooring is now peeling from the humidity and heat. Who knows what else is being effected. This is ridiculous and I have no where to turn to for help!
Gregory
Raised my monthly payment $100+
Just right off the bat, stay far away from PENNYMAC loans! They just hiked my monthly payment up $100/month for insurance rates and taxes going up $490 more this year and just states that they have to get the money back from last year as well! Run from this company, as far as you can!
Anonim
Want expisure
They are great but I would recommend you deifnitely talk to them about everything up front. They know all the answers
Jessica
Insurance claim check
No one knows what they are doing. Everytime I call to get the status I get different answers. Keep asking for a supervisor or to talk to someone in the actual department and keep getting told someone will call me back or get told that department doesnt have a phone so no way to talk to them. Never in my life would I think I would have so many issues with the bank! The insurance claim with my insurance company is literally easy. When someone goes through a loss to their home it is already hard and PENNYMAC makes it even worse. Going to see about getting a loan through another bank! Avoid PENNYMAC at all costs
Gary
Refusal to elevate complaints to corporate level
Horrible customer service, refusal to put complaints and responses in writing, refusal to let me speak to supervisors, refusal to give me corporate office phone numbers
Gary
Refusal to elevate complaints to the corporate office
Horrible customer service; refusal to give corporate phone number to elevate complaints; refusal to put complaints in writing; refusal to phone me at their own stated time; refusal to believe me about what my insurance company states to me, etc. No way to obtain a phone number for the corporate office--they all go to customer service or other divisions by automated responses; no accountability
Jeffrey
About a bank statement with penny mac
Could not give me information why penny Mac ach is on my bank statement with my name ???!!!099@@9@9@***o call so do call to do do Al go call do Cooper Socorro call foghorn go ignoring go
Samantha
Making a payment today
Open on Sat 7:AM -11 no one pick up the phone even the automatic system is close too I'm unable to make the payment today.
ATillman
DONT TRUST PENNYMAC
DONT TRUST PENNYMAC!!! ALL THE DO IS LIE!!! CONSTANT ISSUES FROM BEGINNING AND NOW HOLDING OUR INSURANCE MONEY WHEN TRYING TO FIX HOME 6 MONTHS AFTER HURRICANE IAN!!!
Jacqueline
They didn't pay my homeowners insurance and now it has more than tripled
This complaint stems from the processing of my mortgage funds with you. My mortgage company is Penny Mac and due to unscrupulous mortgage lender procedures & practices, Penny Mac DID NOT pay my homeowners insurance, when it was due in October of 2022, they never notified me of the mistake. Instead, I had to call Progressive/ASI, in February 2023 to find out why my auto and home insurance premium has gone up significantly. I was told that my mortgage company DID NOT pay my bill and I have been without coverage since October 2022. Not only is Penny Mac saying that they are not paying for their mistake which is over $3000, They have caused me extra time, money, and significant medical declining, stemming from a series of two, back-to-back, strokes, plus the mental deficits that they left behind. I am a 100% permanent disabled veteran, who served her country proudly, and should never be treated this way. I cannot afford my mortgage and was promised when I made my 2022 payment modification, that my payment was fixed and would NEVER go up. I thought it was an attempt to lower my mortgage payment, but now it is being raised again. Penny Mac is a very dishonest and unscrupulous company. This is ridiculous and mentally exhausting. Additionally, every time I call them, they transfer me to their insurance, escrow, or collections department to speak to someone higher up who knows what they are talking about, and can problem solve. I have had enough of explaining my dilemma AGAIN and am in hopes that ALL phone conversations are monitored and recorded so someone can hear the foolishness I have had to deal with. And to add insult to injury, Penny Mac had the nerve to send me a letter, dated 3/06/23 stating that I did not have home insurance. How dare you? I never thought I would have to write this about your company. You have taken me through the ringer in the last 3 weeks and I never thought you would. You have treated my case like you could give a damn about your consumers. I contacted Penny Macs escrow, collections, insurance department and they keep passing the buck. I have also spoken to Progressive Insurance, ASI & Nationwide on February 27, 2023, and explained that the service I received from Penny Mac was unsatisfactory. Penny Macs response was, We're sorry we messed up but you're going to have to shop around for insurance and pay your increased premium. I have failed to receive an appropriate response to this problem which has prompted me to write directly to you.
Anonim
Automated Phone Tree
Customer service line is terrible. Once you are able to speak to someone, they seem to lack knowledge of their proceses.
Anonim
Holding our ins money
Water line break on second floor on Christmas morning destroyed our house.no walls floors, kitchen dining room and living room all gutted.floors are breaking apart.cant keep up with utilities.we r losing everything.check was supposed to be here wed.someone forgot to fill in check amount so now it's another week they said.we need help now.mold is starting and it's not good people.please help
David
Get my 1098 information
Im having trouble contacting someone or talking to someone about getting my 1098 information. I am not a customer anymore because we sold our home June of 2022.
Susan
Cannot talk to an actual person!
I have tried for months to talk to an actual person so that I can access my account online. Awful!!! wish I could switch to a different lender.