Pennymac

I got a mortgage with PennyMac. While the app and website are useful, the customer service is lacking. I'm a disabled veteran in TX. Because of that, I get a property tax exemption. I've had countless emails and phone calls to customer support defending and proving this point. Sending them messages has not been very useful but they are polite on the phone and always fix the problem. The issue is that I have to send messages and call support several times each year to fix my escrow problem. It's the same argument and same problem every time. It's such a waste of time. If you are a veteran, I would avoid this company. Updated to 3 stars. The issues is partly with the city PID. They don't make it easy.

Never get a mortgage with this company. This is the worst company on the planet to work with. NOBODY knows what is going on, nobody answers their phone or returns calls. RUN don't walk away. from Pennymac! ANY other mortgage company in the world is better!

If I could give negative stars, I would. How this company is licensed to service VA loans, let alone any, is beyond belief. They offer zero actual benefits to veterans. We reached out FOR INFORMATION about a possible VA Compromise loan and they, without authorization, put us in a short sale status, without a single missed payment. Stay far away from using this company. Im sure if you do your research, you will find many more stories like mine

Pennymac is nothing but fraudulent. Before closing on my home they appraised my house at over $520k, the purchase price from the builder was $503k and is paid 50K down payment. 3 years later with home improvements; blooming neighbourhood (Pecan Square) with all homes both new and pre owned not less than $510K. I requested Pennymac to remove my mortgage insurance considering my home equity; they insisted I pay $190 for someone to come and apprise my home. I did; the appraisal person even told me I had no reason to be denied that my home is in great shape with no issues. To my greatest surprise, Pennymac denied my request; telling me that mg home is worth $497K. Didn’t give any type of reason why. Terrible people; terrible service. Tax is paid at the end of the year but Pennymac is twisting

Recast process is poorly communicated and takes 6 weeks while they sit on your money, charge uou fees and still charge you your mortgage payment pre-recast. Note, a recast won’t auto-removel PMI no matter how much you recast. Another fee and appraisal at my expense on a brand new house appraised 60 days ago (again at my expense). This was never explained. Add insult to injury, every recast communication sends you to the same main number with no extension, left to fight through the automated system to get to a person given there are no options for recast. Ugh. So done with your pathetic customer service and haven’t been with you for 30 says. I feel abused, my time has been wasted and my money sits in Pennymac purgatory. Never going to be a customer again.