Pennymac

"This company sucks and I used to work for them. The Manager Kimberley Wiggins is horrible. Has a horrible attitude and for her to be a black female she does not like blacks on her team just white males. Don't do business with them. Leadership is terrible along with their loans. When the get your loan they will find a way to cheat you. LOOK AT ALL THE COMPLAINTS WITH THE BETTER BUSINESS BUREAU."

"Absolute ethical dumpster fire of a company. They call daily and send me infinite junk mail about refinancing (I have a 30 yr fixed at 2.25) and rates now are at 6%. It's a dirty catfishing scheme to try to bilk people out of more money in interest payments. I've told them repeatedly to stop contacting me, but of course they don't. I'm sure if I actually needed something they'd be utterly unreachable. Until then all of their correspondence will be deposited right where it belongs: in the trash."

"PennyMac Mortgage has the WORSE CUSTOMER SERVICE EVER!!! Associates and management alike! All I said was resend via mail the change in almost $200/month and they continue to say I signed up for paperless so I can do it myself!"

"It is very unfortunate to say that my current lender is PennyMac [my Initial mortgage company sold to them] and they are the worst lender I can tell by experience. I reached out the them for refinance my house and receiver the quote with rate% and total closing cost including rate discounts points. When I agreed with all numbers in respect to closing cost / rates and filled out the application. Agent [Alex Melgarejo] ran the hard credit history [obviously ] and in order to lock the rate and he asked me to pay $445 for house appraisal fee on phone [ saying rate won't lock unless I pay appraisal fee ] . I wanted all done so paid all fee and signed the disclosure [ contracts with all rate estimated defined and other bunch of papers] . 2 days later I am receiving new contract with $13000 increased to closing cost from no where. When I tried to reach agent continuously 5 days with emails and phone call [none is returned] . After 5 days, he responded saying management can not give locked rates on the contract. I was like really ? And they call themselves top conventional lenders who breached the contracts and backing out. What a waste of my time and hit hard credit run. I would not recommend anyone to trust them"

"I rarely post a review but this one was so terrible that I had to warn others. I’ll keep it as brief as possible. I had over 2 months to close and all my docs were received well in advance of closing. I confirmed the week prior that the loan was funded. I confirmed that closing docs will he sent to title company 2 days prior to close. The result? Closing Docs were never sent until the day before close. Title company didn’t receive funds in time for close resulting in a delayed closing and the seller needing reimbursements for costs related to the delay. I made multiple phone calls to PennyMac during this time. I had no problem getting a hold of my loan specialist leading up to the closing but when it wasn’t going well, I could not get a hold of her for over 2 days. (Emma). I made several phone calls to PennyMac and never talked to the same person twice. Each person told me that they’re sending an email or message up the chain but no response from anyone. Finally got a hold of a manager (Theresa) who was kind enough to call me back but ultimately wasn’t able to resolve the issues with the delay. This is my 12th property purchase and the last one with PennyMac. Do yourself a favor and shop around for mortgages. Go with a local bank if possible and ask them to match your best rate."