Complaints

This profile includes complaints for PENNYMAC's headquarters and its corporate-owned locations. To view all corporate locations, see Find Local Branches.

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PENNYMAC has 30 locations, listed below.

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  PENNYMAC

  3043 Townsgate Rd Ste 200 Westlake Village, CA 91361-3027

  
• 

  PennyMac

  2201 W Plano Pkwy STE 300 Plano, TX 75075-8413

  
• 

  PennyMac Loan Services, LLC

  3013 Douglas Blvd Ste 250 Roseville, CA 95661-3899

  
• 

  PennyMac Loan Services, LLC

  4300 Duncan Ave Saint Louis, MO 63110

  
• 

  Pennymac Loan Services LLC

  251 S Lake Ave Fl 6 Pasadena, CA 91101-3012

  

The complaint text that is displayed might not represent all complaints filed with BBB. Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business.

• Initial Complaint

  Date:03/24/2025

  Type:Billing Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I just bought my home. Pennymac agree to stop payments owed till after I finished the paramedic program at Cecil College that I have been enrolled in since I lost my job at Amazon because Bart England and Jacent threated and attempted to rape me and now are stalking me still. Pennymac has begun sending me bills after stating that I did not owe any payments at this time. Pennymac has disrupted my life and caused chaos. Pennymac also agreed that a new roof would be put on my home prior to the sell date however they did not do anything they said they was going to do.

  

  Business Response

  Date: 03/24/2025

  Thank you for bringing this matter to our attention and allowing PennyMac Loan Services, LLC (“PennyMac”) the opportunity to review and respond to Ms. S******'s concerns.
  
  PennyMac strives to provide superior customer service and respond to all inquiries in a timely manner.  A detailed letter of explanation will be sent to Ms. S****** under separate cover within 15 calendar days.  
  
  PennyMac values and protects its customers’ confidential information.  Due to privacy reasons, we will refrain from posting any personal information to the BBB site as we do not disclose our borrowers’ personal information.

• Initial Complaint

  Date:03/24/2025

  Type:Billing Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  Called LLC pennymac about reporting my payment history to the credit Bureau and they said could not because it never had no affirmation and went on to say they had no record of affirmation so I ask them why they couldn’t report it and they said my lawyer should have done this and now the attorney who handled this is deceased and no longer in practice it was my problem now and they hung up.

  

  Business Response

  Date: 03/24/2025

  Thank you for bringing this matter to our attention and allowing PennyMac Loan Services, LLC (“PennyMac”) the opportunity to review and respond to Ms. T*****'s concerns.
  
  PennyMac strives to provide superior customer service and respond to all inquiries in a timely manner.  A detailed letter of explanation will be sent to Ms. T***** under separate cover within 15 calendar days.  
  
  PennyMac values and protects its customers’ confidential information.  Due to privacy reasons, we will refrain from posting any personal information to the BBB site as we do not disclose our borrowers’ personal information.

• Initial Complaint

  Date:03/19/2025

  Type:Customer Service Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I have been trying like crazy to talk with someone about my loan. You guys call me and tell me one thing and then I call and get told something totally different. I am 100% confused and don't understand why we can't get on the same page? First you guys say I can't make a partial payment, then you say I can, so I called to do so and you say I can't. Then you guys say I can make payments on my escrow on a 5-year term then you guys say I can't. Like, I don't understand? Then you guys send me a letter saying you sent Allstate over $5,000. Allstate has never sent me a check and I have never had Allstate. But yet no one knows what I'm talking about when I call. I attached a bank statement showing the only thing I've ever paid to allstate was a car insurance payment which I was refunded.

  

  Business Response

  Date: 03/19/2025

  Thank you for bringing this matter to our attention and allowing PennyMac Loan Services, LLC (“PennyMac”) the opportunity to review and respond to Mr. H********' concerns.
  
  PennyMac strives to provide superior customer service and respond to all inquiries in a timely manner.  A detailed letter of explanation will be sent to Mr. H******** under separate cover within 15 calendar days.  
  
  PennyMac values and protects its customers’ confidential information.  Due to privacy reasons, we will refrain from posting any personal information to the BBB site as we do not disclose our borrowers’ personal information.

• Initial Complaint

  Date:03/19/2025

  Type:Billing Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I have sold my home, which PennyMac was the lien holder for. The FHA loan was assumed by the current owners. In this process, I was told, by PennyMac, that my last mortgage payment would be prorated and I'd be refunded a certain amount. For reference, I payed February's mortgage payment on the 1st and closed on the sale of the home on the 5th. I expected to get prorated from the 5th to the 28th. Since the sale of the home, PennyMac has NOT communicated to me on whether this proration was deducted from the principle on the home, or if it would be sent, in the form of a check, to me. I have reached out on several occasions, with my realtor CC'd, and have only been ignored. My realtor has also reached out to PennyMac and only been ignored. I NEED to figure out what happened to that prorated amount. If it was deducted from the principle owed on the house, fine. I just need to SEE where that was done. Otherwise, I expect a check for the prorated amount ASAP.

  

  Business Response

  Date: 03/19/2025

  Thank you for bringing this matter to our attention and allowing PennyMac Loan Services, LLC (“PennyMac”)
  the opportunity to review and respond to Mr. L*****'s concerns.

  
  PennyMac strives to provide superior customer service and respond to all inquiries in a timely manner. A
  detailed letter of explanation will be sent to Mr. L***** under separate cover within 15 days.

  
  PennyMac values and protects its customers’ confidential information. Due to privacy reasons, we will
  refrain from posting any personal information to the BBB site as we do not disclose our borrowers’ personal
  information.

  Customer Answer

  Date: 03/19/2025

  
  
  Complaint: 23086728
  
  I am rejecting this response because:

  I have given PennyMac MORE than ample time to respond to me, regarding this matter. I will not be waiting up to 15 more days for a response. My records clearly show who I’ve been working with. They need to respond to me and provide the documents I’ve requested.

  I will not be waiting and risk this BBB incident’s closure due to a 15 day lead time.

  Have the people who I was working with call me ASAP. As soon as I have the information I’ve been requesting, I’m more than happy to consider this matter resolved. Not a moment sooner.

  
  Regards,
  
  ****** L*****
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  

  
  

  

  Business Response

  Date: 03/25/2025

  Thank you for the additional information, and for speaking with our Priority Complaint Specialist on March 25, 2025.  Please be assured you will receive a formal response addressing each of your concerns.  Due to privacy reasons, we will refrain from posting any personal information to the BBB Site.  This response will be mailed to you under a separate cover within 15 calendar days.

• Initial Complaint

  Date:03/19/2025

  Type:Billing Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I have a loan with Penny Mac that I’ve had for the past three years. Just recently I changed my insurance so that my mortgage wouldn’t increase. I have tried to for the past month upload my current homeowners insurance with Penny Mac. I have spoken to a representative at least 10 times, then have told me to upload it at least 10 times. I have done all the steps and yet they continue to have my mortgage insurance listed as liberty mutual. I have never had a liberty mutual Insurance policy. Not only have I sent them information stating that I don’t have a liberty unusual insurance policy I have uploaded sent in emails sent in letters of declaration showing my new insurance. They have still yet to get this right. This is causing me a lot of stress because I have to continue to keep calling this is going to put my escrow to where my mortgage goes up. Every time I send the information to the necessary insurance coverage info status I receive an email saying that it’s updated and yet it never gets updated. This is stressing me out because I don’t understand why this cannot be resolved. Every time I asked to speak to supervisor the gentleman that I speak to every single time tells me that someone’s going to call me and they do not. I have emails after emails and uploads after uploads saying that Penny Mac has received this information but they have still yet to change my insurance to Travelers so I can recalibrate my escrow. I’m getting very frustrated and I am stressing out about my escrow that is incorrect. I don’t understand why this is so difficult for them to put the correct insurance information on my account! I need someone to fix this issue but they have not and this is my only way to get those resolved. If I do not get through resolved I will have to seek an attorney.

  

  Business Response

  Date: 03/19/2025

  Thank you for bringing this matter to our attention and allowing PennyMac Loan Services, LLC (“PennyMac”)
  the opportunity to review and respond to Ms. S*****'s concerns.

  
  PennyMac strives to provide superior customer service and respond to all inquiries in a timely manner. A
  detailed letter of explanation will be sent to Ms. S***** under separate cover within 15 days.

  
  PennyMac values and protects its customers’ confidential information. Due to privacy reasons, we will
  refrain from posting any personal information to the BBB site as we do not disclose our borrowers’ personal
  information.

• Initial Complaint

  Date:03/17/2025

  Type:Billing Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  Pennymac loan services llc contacted me about refinancing my Mortage loan for a lower rate.They said it would lower my payments and wouldn’t affect my credit.The process was a long nightmare!My credit was damaged my score dropped by 61 points.They took over 6 months to complete the process.They did not save me any money.They harassed me for a down payment and my rates did not go down.They reported the loan to my credit report 4 times and they are refusing to fix the problem.I have never been so stressed out in my whole life.They have scammed me out of more money and have damaged my credit rating

  

  Business Response

  Date: 03/17/2025

  Thank you for bringing this matter to our attention and allowing PennyMac Loan Services, LLC (“PennyMac”) the opportunity to review and respond to Ms. G*****' concerns.

  
  PennyMac strives to provide superior customer service and respond to all inquiries in a timely manner. A detailed letter of explanation will be sent to Ms. G***** under separate cover within 15 days.

  
  PennyMac values and protects its customers’ confidential information. Due to privacy reasons, we will refrain from posting any personal information to the BBB site as we do not disclose our borrowers’ personal information.

• Initial Complaint

  Date:03/17/2025

  Type:Billing Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  Today is 3/17. I just received 7 different pieces of mail from PennyMac. The first one, generated on March 5th, was an application I was told I had until April 8th to fill out and return for payment assistance/loan modification. It was the last step in a forbearance plan which lowered my monthly payment while I was suffering financial hardship. The next group was 2 sets of the same 3 letters, one set of 3 was certified mail, all were copies of the non-certified mail. I received all of that today and last week, days after I paid my entire past due balance. After I paid, they sent a few months I was on the plan to the credit bureau as missing payments which tanked my credit score by 200 whole points. My family has already been going through a tough time, now we’re being punished for seeking help and for paying it back. This has drastically affected our ability to borrow in the future, making sure we’re stuck with this mortgage. They have caused us significant financial hardship as well as stress over things we shouldn’t have to stress over. They obviously have NO IDEA what they’re doing or how to manage accounts without grievous errors. I had a high credit score and a decades long history of on-time payments, now I’m back at the bottom. Thanks PennyMac.

  

  Business Response

  Date: 03/17/2025

  Thank you for bringing this matter to our attention and allowing PennyMac Loan Services, LLC (“PennyMac”) the opportunity to review and respond to Mr. C*******s concerns.
  
  PennyMac strives to provide superior customer service and respond to all inquiries in a timely manner.  A detailed letter of explanation will be sent to Mr. Chetoni under separate cover within 15 calendar days.  
  
  PennyMac values and protects its customers’ confidential information.  Due to privacy reasons, we will refrain from posting any personal information to the BBB site as we do not disclose our borrowers’ personal information.

  Customer Answer

  Date: 03/22/2025

  
  
  Complaint: 23076280
  
  I am rejecting this response because:

  I was told after I made my over 9k payment to become current that my account would return to normal so I could pay my mortgage at the first of the month like normal. After that, they tanked my credit and they call me with seemingly no intention of actually talking to me. I called back twice at different times of the day and got a message service. I left a message and no call back. It seems like my entire account is incorrect and someone is making mistakes without fixing them. They bought my mortgage without my consent and they’ve messed it up to where my whole life is suffering consequences and they send a generic thoughtless response about responding in 15 days which will be well past my due date. They need to clear my credit, figure out what’s going on with how my account is being managed and return everything to normal. This isn’t my first mortgage. I’ve never had as many issues with standard operation as I have with PennyMac.
  
  Regards,
  
  J*** *******
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  

  
  

  

  Business Response

  Date: 03/25/2025

  Thank you for the additional information.  Please be assured you will receive a formal response addressing each of your concerns.  Due to privacy reasons, we will refrain from posting any personal information to the BBB Site.  This response will be sent to you under a separate cover within 15 calendar days.
  
  Additionally, a Priority Complaint Specialist attempted to reach you by phone on March 24, 2025, and provided a voicemail for a callback. We encourage you to make contact to further discuss, at your earliest convenience.

• Initial Complaint

  Date:03/17/2025

  Type:Billing Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  PENNYMAC purchased my mortgage loan on 2/21/24. The loan was $598,405. PMI was assessed at the rate of $164.56. On 5/13/24 I did a loan recast paying $200,000, or 33% of the loan. I was assured by the person who helped me do the recast that the PMI would stop. Today, 3/17/24, PENNYMAC is still charging me this amount. They told me today that I should have called, which I did when I worked with the person doing the recast. Because of this, I have paid an unnecessary $1,645.60.

  

  Business Response

  Date: 03/17/2025

  Thank you for bringing this matter to our attention and allowing PennyMac Loan Services, LLC (“PennyMac”) the opportunity to review and respond to Mr. M*****'s concerns.
  
  PennyMac strives to provide superior customer service and respond to all inquiries in a timely manner.  A detailed letter of explanation will be sent to Mr. M***** under separate cover within 15 calendar days.  
  
  PennyMac values and protects its customers’ confidential information.  Due to privacy reasons, we will refrain from posting any personal information to the BBB site as we do not disclose our borrowers’ personal information.

  Customer Answer

  Date: 03/20/2025

  
  
  Complaint: 23076114
  
  I am rejecting this response because PENNYMAC is refusing to adjust my bill.
  
  Regards,
  
  ***** M*****
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  

  

  Business Response

  Date: 03/20/2025

  Thank you for the additional information.  Please be assured you will receive a formal response addressing each of your concerns.  Due to privacy reasons, we will refrain from posting any personal information to the BBB Site.  This response will be sent to you under a separate cover within 15 calendar days.
  Additionally, a Priority Complaint Specialist attempted to reach you by phone on March 18, 2025 , and provided a voicemail for a callback. We encourage you to make contact, to further discuss, at your earliest convenience.

• Initial Complaint

  Date:03/17/2025

  Type:Billing Issues
  Status:

  ResolvedMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  On February 13, 2025 I received an delinquent tax notice in the mail from Ellis County Tax office stating that my property tax was not paid and is delinquent. I checked my PennyMac account and it shows on January 22, 2025 that $7,153.62 was removed from my escrow account to pay my county property taxes. I have been down to my county tax office only to be told no payment has been received as it relates to my Property Taxes. I reached out to PennyMac only to be given the run around and lied to. I was told by PennyMac they sent a wire transfer to my county tax office and my county tax office stated they do not accept wire transfers. I reached back out to PennyMac and was told then they dealt with a third party named Core Logic and they sent a check to my County Tax office. My County Tax Office told me they have not receive any check or any funds for my County Property Taxes. I am now be told anything by PennyMac and they are giving me the run around about my money they took from my account. My Property taxes has now even went up with interest. If not paid by July the County plans to put a lien on my home. PennyMac is conducting unethical business, fraud and this needs to stop and be addressed asap. We is now in March 14, 2025 and still they don't know where my funds are and my County Property taxes has not been paid.

  

  Business Response

  Date: 03/17/2025

  Thank you for bringing this matter to our attention and allowing PennyMac Loan Services, LLC (“PennyMac”) the opportunity to review and respond to Mr. J****' concerns.
  
  PennyMac strives to provide superior customer service and respond to all inquiries in a timely manner.  A detailed letter of explanation will be sent to Mr. J**** under separate cover within 15 calendar days.  
  
  PennyMac values and protects its customers’ confidential information.  Due to privacy reasons, we will refrain from posting any personal information to the BBB site as we do not disclose our borrowers’ personal information.

  Customer Answer

  Date: 03/17/2025

  
  
  Complaint: 23068877
  
  I am rejecting this response because: I have been attempting to resolve this issue with PennyMac and has got nowhere. My Property Taxes are past due since January and you all took the funds from my Escrow account to pay the property taxes and that never occurred. You all assigned a lady by the name of Rebecca to work with me on this issue and I have been lied to and given the run around. I have been in contact with PennyMac since last month February when I received notice from the County stating my taxes with past due and have now interest added to it. To say I will receive a response by mail within 15 days with an explanation is unacceptable. I would like to speak to someone directly in management so we could get this issue resolve sooner than later. 15 more days the interest on my property tax is going to be higher. PennyMac needs to be more responsible and someone from management needs to reach out to me about this issue.
  
  Regards,
  
  *********** J****
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  

  

  Business Response

  Date: 03/18/2025

  Thank you for the additional information, and for speaking with our Priority Complaint Specialist on Mach 17, 2025.  Please be assured you will receive a formal response addressing each of your concerns.  Due to privacy reasons, we will refrain from posting any personal information to the BBB Site.  This response will be mailed to you under a separate cover within 15 calendar days.          

  Customer Answer

  Date: 03/18/2025

  
  
  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID 23068877, and find that this resolution is satisfactory to me.
  
  Regards,
  
  *********** J****
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  

• Initial Complaint

  Date:03/10/2025

  Type:Billing Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  After a 5-year mortgagor/mortgagee relationship with PennyMac LLC they did not pay property taxes I paid to them in 2024, instead they waited until 2025 to pay. They provided insufficient notice, less than 30 days for me to make an informed decision and the request was deceptive in that it did not reveal the impact to my federal tax deductions. It was not until I saw my Form 1098 for 2024 which reflects $0 property taxes being paid even though I paid in excess of $10K to PennyMac in 2024, and PennyMac had more than my property tax amount available to make the payment in 2024. Their actions have harmed me in my inability to claim a tax deduction for the year planned. Without explanation, PennyMac told me they made this change only to Texas residents. This is truly deceptive and will cause me to now owe on my taxes. They refuse to send a corrected 1098 or even send me a letter to attach to my tax return explaining the problem and their failure to provide clear and accurate information about their decision and the tax consequences. With the CFPB now being shuttered, I don't have that resource available anymore and will move forward with litigation. I appreciate any assistance you can provide.

  

  Business Response

  Date: 03/10/2025

  Thank you for bringing this matter to our attention and allowing PennyMac Loan Services, LLC (“PennyMac”) the opportunity to review and respond to Ms. G*****'s concerns.
  
  PennyMac strives to provide superior customer service and respond to all inquiries in a timely manner.  A detailed letter of explanation will be sent to Ms. G***** under separate cover within 15 calendar days.  
  
  PennyMac values and protects its customers’ confidential information.  Due to privacy reasons, we will refrain from posting any personal information to the BBB site as we do not disclose our borrowers’ personal information.