PENNYMAC
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PennyMac Loan Services, LLC ("Pennymac") is a leading national mortgage lender and servicer. Our goal is to provide you with innovative mortgage solutions to make it easier for you to purchase, refinance, or simply remain in your home. Since our founding in 2008 by a team of mortgage industry veterans, we've sought to restore Americans' trust in home ownership by improving the quality and consistency of the mortgage experience. We're a full-service lender with a breadth of loan options for everyone from first-time home buyers to those seeking jumbo, FHA, or VA loans. We also purchase loans from banks and other lenders, then use our industry expertise to help borrowers restructure their mortgages so they can stay in their homes. NMLS #35953.
Reviews 901
BRUCE PATTERSON
Jun 28,2021Totally professional, timely and efficient. A pleasure ! BP
Richard B.
Jun 27,2021I started looking for a refinance mortgage and was lucky to have settled with and made my application with Pennymac. As it turns out, they got me the best rate and with the least amount of hassle, almost over night. Wow! While I was communicating with them I got over 20 phone calls and messages from lenders everywhere. It a hot market out there and great for the home owner. The most impressive part of Pennymac was the loan officer I got. Adrian was great to work with.
Synthia
Jun 23,2021Very happy with the outcome! Shopped around for awhile until I came across PennyMac. This company offered the best rates. The process was easier than expected. Margaret made things easier by always being available to help me upload document! Will be using them again in the future!
Maila
Jun 22,2021PennyMac is a very good lender especially Ihsan and Blake who were very patient with us during the processing of our loan until it was successfully completed. We could not ask for more.
Debby P.
Jun 22,2021Excellent service. We're very pleased.
HP
Jun 19,2021WORST Company to work with. Horrible customer service, loan officers are not reponisve. I have been working on my loan refinance for almost three months now and have yet to finish. Each time I call I am routed to the wrong department or told that unfortunately they can not help me. I am not sure if they are even working since I am placed on hold for long periods at a time for someone to then tell me they can not help me. LITERALLY WORST COMPANY EVER!
Mithun Gunalan
Jun 18,2021I decided to go with Pennymac on a purchase loan even though their rate wasn't the cheapest because I had a good experience on a previous refinance loan on a property. This purchase loan was entirely different experience! I didn't hear from the processing agent for a week after we locked in the rate. I couldn't find out if the appraisal had been ordered. After I finally got the processor on the phone and discussed the doc requests, I couldn't get them on the phone again for days. I had to call on multiple days and get the MLO involved to push the application forward. The experience completely stressed us out in a housing market that is on fire. My loan was a conforming loan with more than 30% down with 2 employed applicants and no issues with appraisal. In other words, the application is probably as straightforward as they come. The experience should have been less stressful and easier. We did close on time once we worked through the early hiccups. I would recommend Pennymac for refi loans if they are already your servicer. For purchase loans you are better off going with a local lender with a good rate that can aggressively close on the loan.
Jesus is the Truth
Jun 17,2021PennyMac bought my loan three years ago. Worked with me during hardships. Recently lowered my mortgage payment by 27.3%. The team is knowledgeable and professional. Process is feasible and simple. Customer service is impressive. Keep up the good work!
Linda F
Jun 16,2021All aspects of our refinance were clearly explained during the entire process. Communication was simple via the website and documents were easy to upload. Miguel called weekly during the process to provide an update and review documents received and those required. Tracy Corsey was our original loan officer and was fantastic in explaining the process. The notary arrived on time and explained each document for signage. Overall it was an easy process. I would not hesitate to recommend Penny Mac.
Yolanda Dobbs
Jun 15,2021My experience was great! The entire team was knowledgeable, prompt with information and responses. Chris reached out every step of the way to communicate what needed to be done and answer any questions. Process went smoothly and quickly, closed early within a few weeks and am highly satisfied. Use Pennymac for your mortgage/re-finance needs!
Rocketman
Jun 09,2021Our mortgage was sold by Veterans United to PennyMacUSA. Worst servicer ever. Your concerns and outcomes depend on who you talk with and can change in the same conversation. Our case is too long to opine here but I'll shorten it up. I've talked with knowledgeable experienced and trained people all the way to those who are so worthless it's hard to believe this company hired them. One CSR rep will tell you a senior rep didn't know what they were doing while another gets a 5 star rating. You really have to watch how they handle your loan as it will change without you even knowing and then you have to spend weeks and many hours arguing with them to get it corrected, if you can. Make sure you hold on the line after you are done with a call as you can then leave a review and then get forwarded to a more senior representative if you are getting know where. Read their FAQ section. The first Q's is: Will my loan terms and conditions change once PennyMacUSA is my servicer? Their answer is emphatically, NO. But, when our loan was bought by them, they imposed a 24 month moratorium on us for paying our own taxes and insurance that wasn't on the initial loan. They said, it is their policy, even-though, they could not provide one signed document by us to prove we agreed to anything. Then this clown company denied us our rights and to me a 100% disabled veteran to pay our own taxes and insurance escrows. I am tax exempt in my state and county due to military injuries, and our home owners insurance is paid in full for the next year, yet they screwed things up by sending out a check to our previous insurance company to pay for our next 12 months even though they received all the documents for our new insurance provider. We got that recalled as well but they just keep throwing more at us by not recognizing our new insurance co. This is a mortgage nightmare every home owner should avoid. They only get 2 stars because I have talked with a couple of very experienced people, but then the losers get their hands on things and it gets all messed up. I think they really enjoy making peoples lives miserable as a company. Make sure if you are getting a new mortgage anywhere, to ask them if they are going to sell your bundled mortgage to a new servicer. If they say yes, tell them to avoid PennyMacUSA. If you don't you will surely regret it.
Scott Brusse
Jun 08,2021I would like to thank the Mac team at PennyMac for the 5-star experience throughout my refinancing process. They were friendly, honest, and quick to respond to all my questions. I highly recommend PennyMac for all your mortgage needs.
Paolo Delosantos
May 30,2021From commencement to final signature on closing documents, every question was answered promptly and thoroughly! Each step was clearly explained and all of the financials were intensively clarified, even if they had to be repeated to me! Each progression of the process was detailed in the many emails guiding me. It has taken less than two weeks from my initial query to closing! Now that's a truly amazing experience! Need I say more?
Thomas Duranceau
May 21,2021We got caught in the sale of our mortgage to Pennymac. We specifically chose a company that gave good service and easy payment processing. We did not chose Pennymac. So lo and behold, a year into our mortgage it was sold to Pennymac, and it was a never ending service nightmare. Calls and emails not returned, errors made by them, uncorrected for months. The worst were the flood insurance threats. We have letters from engineers stating our property is above the floodmap elevation and a quarter of a mile away. Did not matter to them. A map reader 1000 miles from our home kept saying we were in the floodplain and demanded flood insurance or they would buy one at inflated prices. After a year of arguing logic with them, we ended up refinacing just to get rid of Pennymac. Dont use them.
Debra Brown
May 16,2021Pennymac is a company I can recommend if one is looking to refinance and get a good low interest rate. The process is reasonably straight forward if you have all your documentation in order. The Pennymac team is tremendous to work with. I could always rely on them to coach me through any snags in the process. The experience was positive and worthwhile for me.
Vasu !!
May 13,2021They offered great interest rate to lock and when i moved couple of weeks into the process the appraisal came back by 100k less than market price. Even when i go to their wesbite the price shows accurately. Horrible experience
Joe Splendorio
May 13,2021I went through a refi with another company that gave me 2.5%. Obviously I get a call from Penny Mac they say can match it only after they get the payoff call from the other mortgage company. I figured ok it will be simple since they hold my note. I have to pay another $400+ for home val. even though it was just done for another $400+ but they told me I needed to pay that night to show that I was all go with them. This was in Dec. 2020 after 4 months and tons of emails from different folks asking for the same info over and over again I get denied, so I think. Nobody calls me, no returns emails or messages. I get a "direct" number for some big wig Joe 916 245-1507 ex 7955. Call this clown 5 times and leave a detailed message like his machine says and have never heard from him. So, I'm out $800+ and no more 2.5%. This company rips people off. The first night I was on the phone with the loan specialist that they had call me for 45min. Tells me we will close in Feb. Ok buddy, it's May 2021.
Douglas
May 13,2021First class all the way. Everything was explained clearly. The whole process was fast and seamless.
Ami Glisson
May 07,2021Attempt to refinance mortgage. Poor customer service. They kept calling the wrong number and then said my loan was inactive because they couldn't reach me. Contacted them and just got bounced around. Got screwed out of the appraisal fee and no one will contact me. Do not use this company
3043 Townsgate Rd, Suite 200, 91361, Westlake Village, US
https://www.pennymac.com
Kathy A.
Jul 02,2021Great company to work with for all mortgage needs.