A home buying process can be overwhelming and time consuming, but my loan officer, Joselyn Nieves, made this process easy to understand and delightful. She was so personable and took the time to both answer my questions - even those which I didn't know to ask. Her regular follow-up and dedication to her profession led to an amazing home buying experience for me. I recommend anyone that chooses to do business with PennyMac ask to work with Joselyn if you want top-tier service and confidence in buying a home. read more

Predatory lender - charges late fees without notifying the customer in writing that there had been an underpayment due to an escrow change

1 star is significantly too high for this HORRIBLE company. Delays, terrible response time. Numerous errors on our documents. They said it was corrected, but sent us back incorrect files. This was the only company that would service our loan, unfortunately... I will never work with this company again. I'd rather not buy a house than work with Pennymac. read more

In August 2026 my wife reached out because we had some difficulty during the month of July. Please read other reviews people with credit scores in the mid 800s were a day late on a payment and they reported it to the credit bureaus. This company literally does not care. We reached out proactively to request a forbearance and split the mortgage payment that was due across the next two months. While they originally seemed happy to oblige the very specific wording they used was that it "does not protect you from credit reporting". That is not the same language as " it is late and will be reported to credit bureaus ". In the consumers mind why would one need protection when the impression is if we make the next payment as required with the additional amount by the due date we would be OK. Instead after I paid the full amount of the next bill due of $3600+ which included $1200+ from half of the previous months bill, within 48 hours they reported a late payment. Perhaps the fact that I paid the bill triggered someone or some system to notify all the credit bureaus of a late payment. The outcome of this is that a very important loan application for a business startup was immediately disqualified because of that credit reporting. My wife attempted to speak to someone in escalations and was met with hostility and incredibly rude behavior from someone in the escalation department who insisted that there was no one higher than them that we would be able to speak to. Our attempts to discuss the matter with a more senior leader, ended with the company hanging up on my wife insisting that they were the final authority on the matter. Frankly, Had they indicated clearly that it would be reported to the credit bureaus when the bill is paid I would have at least been prepared for the outcome. Or I wouldn't have paid the bill that triggered an automatic notification to the credit bureaus until the loan was approved so that it wouldn't have been a year long devastating effect on our credit. We are customers and we are people and we are not just a number. read more

Penny mac is horrible they don't care bout their clients. We had a mortgage with them for 10 years. Never missed a payment always on time. Our house burned down and we paid off our mortgage. PennyMac was supposed to send us the difference so that we could build our new house. They lost the check. We sent our request by electronic and by mail as requested and over 30 days later they still have our money. They not sure, how they sent it back to us. They are doing nothing to expedite getting us our money. If they cancel the check and reissue it, that will take about another 20 days. If we sit here and wait it could still take another 20 days and no one is actually trying to help us. read more

Pennymac is the worst Mortgage company! Avoid at ALL costs! Unfortunately my mortgage was with Synergy One, Ryan Campagnola so be careful using Synergy since will be sold to this venture capital company like mine was who has NO REGARD for customers! Customer Service is condescending or never returns calls! Pennymac is escrowing my house insurance despite paid fully. They paid my house insurance 6 weeks before due while I was in the process of changing companies. Then 2 companies were paid in full. Pennymac no help told me I needed to get a refund. Took 2 months and although I fully paid the new insurance continue to escrow my money! Yep you guessed it Pennymac the "Venture Capital Goliath" doesn't pay any interest on ALL their ESCROW Accounts! Quite a windfall for this unethical bunch! I asked to escalate to a Manager, Melissa 937-328-1289 but after 2 missed calls has not returned my call! Imagine Forbes or anyone recommending Pennymac! Just look at the accurate very POOR reviews at TrustPilot, Goggle, Yelp who aren't receiving a payment from Pennymac to recommend them! read more

If you're a veteran let alone anyone with a disability do not trust this mortgage company. They do not follow ADA compliance and they have rude representatives and low customer service experience. I will be refinancing soon into another servicer. If you're getting a VA home loan to all my veterans don't accept PennyMac, you'll regret it big time. They do not follow up within two business days like their website promise. read more

After 6 years of the same house payment, they suddenly (this week) raised it by 600 dollars!! We live on SS. I called and was told it was being put in an "escrow reserve" account, JUST IN CASE something MIGHT go up!. My home insurance went up by 130 dollars, and taxes did NOT go up. Well, 130 for a year is 1650, not over 5000 dollars!! This is BS, and I've contacted my AG. My original mortgage was sold to Penny Mac soon after getting it refinanced to re-do the kitchen. Do NOT use this company if at all possible! read more

They more than doubled our cash to close amount soon before closing. Then they could not get the paperwork completed on time for closing, causing costly delays. This is despite our cooperation and help. We have an excellent credit score and are obtaining a VA loan. Absolutely stressful and costly experience. read more

Unfortunate first time homebuyer experience. My partner and I attempted to assume a loan for a house. The process was two months of poor communication, an extended closing date, repeated document uploads, false promises, and lots of frustration - just for us to be denied a week before our supposed closing date. Even our realtor told us how unusual it was for the process to be this long and complicated. I wish we knew sooner that we would not be able to move forward with a loan assumption so that my partner and I, our realtor, and the sellers could move on. I do not recommend Pennymac and I will not do business with them in the future. read more

Every time I call, I get a different answer to any question I have. Nobody knows what's going on, one department doesn't know what the other department is doing but yet they keep transferring you back-and-forth. It's hard to get in touch with somebody. I just talked to three different people for an hour for a simple thing that never got resolved. I couldn't even take any anymore. I just hung up and said I'll call later. read more

Our experience with PennyMac during a loan assumption and home sale was nothing short of a disaster. The official closing date was July 14, 2025, yet over 60 days later, the loan had still not been finalized. Both we--the sellers--and the buyers had submitted all necessary documentation, but PennyMac repeatedly requested irrelevant or redundant information, such as monthly HOA statements (which did not apply) and the name of our realtor, which was clearly listed in the contract. They insisted a checkbox be marked regarding agricultural property, despite the prior question already confirming the property was not agricultural. Their refusal to accommodate an earlier closing date added further unnecessary delays and stress. On the official closing day, July 14 at 10:00 a.m., matters deteriorated further. The buyer was mistakenly charged our full July mortgage payment, when they should have only been charged for 17 days. We were unable to reach anyone at PennyMac by phone to correct the error in the closing documents. Eventually, we spoke with the processor, Nicole Mingle, who escalated the issue to her manager and submitted the correct prorations (14 days for the seller, 17 days for the buyer). Nevertheless, the underwriting/closing department still processed the information incorrectly. As a result, no funds were disbursed on closing day, leaving two families--including one with small children--caught in limbo. Even on July 15, although the closing attorney received updated documents at 7:15 a.m., PennyMac had still not provided approval by mid-afternoon. By July 17, a new mortgage statement was issued showing we owed two months of payments--even though the July payment had already been accounted for in the Final Closing Disclosure. Our loan remained unpaid, the agents had not received their commissions, and the buyer's refund had not been released. My husband and I are both veterans, and we are extremely disappointed by the way this loan assumption has been mishandled. On July 22, I spoke with a representative named Frank and explained the situation again. Despite his efforts to escalate the issue, PennyMac still had not released the final Closing Disclosure. Frank attempted to contact a manager in the closing department but received no response. I asked to speak directly with a manager, as this situation is urgent and serious--this assumption loan has yet to close, and our original mortgage remains unpaid as the end of the month approaches. Frank told me the assumption supervisor, Brittany Blankenship, would call me back once she was off another call. So now, once again, we wait. This entire ordeal has caused undue stress and disruption to our family, and it is unacceptable. The level of mismanagement, delay, and lack of communication we've experienced is unacceptable for any mortgage company--especially one responsible for legal financial transactions that directly impact families' housing and financial stability. If I could give this company loan processing side negative stars I would.We strongly caution anyone considering PennyMac for loan servicing or assumption processing. read more

This is absolutely the worst company I have ever dealt with. I have a condo that is financed through them in South Lake Tahoe. They wanted proof of insurance. My insurance is through my HOA. I cannot access it directly. I sent in the proof of insurance and they kept rejecting it. I would call and call and they would say anything to get me off the phone. They bought an insurance policy and charged me. It was like a joke. Finally after spending 3 hours on the phone today they said penny Mac wasn't listed as my mortgage company. Please run from this company read more

They just bought my home loan from veterans united and raised my payments by 200$ the letter doesn't even show the loan amount or anything just a statement saying that they bought my loan and now I owe more money every month read more

I have been trying to contact a HUMAN BEING at Pennymac for several days, I have call number after number and get the same menu over and over again, however today I did make a contact with a representative, she said she could not help me but game me another number to call and assured me that there would be a human answering, she lied, same menu and same frustrating results. So I can only assume that there is no customer support there, no humans to help you, only endless menus. If you want to be ignored, get your loan there. I am going to seek new refinancing at a local bank where HUMANS work and not AI. read more

If I could give a negative star I would!!! During Helene here in Western NC, my husband and my jobs were severely impacted by damages from the flood, resulting in the unknown of whether we would have a place of employment to return to. Knowing this factor we contacted PennyMac to ask for help. The lady we contacted was very considerate and helpful. Our payments were basically paused and it was recommended for us to make any payment amount we could. And that is exactly what we did, we didn't even fully skip a month and started making our payments again. Because of PennyMac's lack of communication and documentation, they were telling us we were in jeopardy of losing our home, even though we were making payments. If we ever finance for another home, it will most definitely not be with PennyMac... I think I would live in a cardboard box if they were to be the only financing option available. Definitely do not recommend this mortgage company! read more

Worst loan company imaginable. Their numbers are not accurate, and customer service is at the bottom of the barrel. Dumping them quick!

I made some advance payments that covered more than two months of my dues, but they did not credit them to my payments, and instead, they put them in my escrow account, and then immediately reported that I missed four payments to the credit bureaus. They also charged me four late fees. This has damaged my credit score by 150 points. I tried to contact them, but they were very rigid and unhelpful. They only gave me strict replies like this: "The Fair Credit Reporting Act requires us to report factual and accurate information to the National Credit Agencies to whom we report (Trans Union, Equifax, and Experian). As a result of our review, we have confirmed the reporting to be correct for the time period you referenced in your message. Sincerely, The Pennymac Team" read more

Our mortal was ok until it was sold to Penny Mac, we are going to have to find a lawyer to go after them! Yes our taxes went up a little after purchase about $45 a month. I verified this with the town tax accessor, penny Mac said our escrow account was short because of this so we took a significant amount from savings that was supposed to go to upgrades to the house. Fine . next year they said we are short again? They are increasing out mortgage 3 times the tax increase? We were never behind or Short we paid the shortage read more

I used Pennymac to orginate my loan and they service my loan also. They are very hard to deal with and the call tree is designed to not help you. Online - wow for servicing it is awful. They spend all of their IT money on upfront getting your loan. Once issued, it is like dealing with a High School project website. The iOS app can work better but randomly your account will lose all access and you will need to re-create your account. Keep your Loan Number handy, you will need it. I can't recommend them for any service - try to use somebody else if you have a choice. read more

Very bad company. I unfortunately used them to get a mortgage. I gave them all the information upfront, ordered the appraisal right away, and replied to all inquiries immediately. I answered follow-up questions two weeks from the original closing. Near closing, they said their system wouldn't allow closing because the insurance information needed to be updated. Then, the day following the first rescheduling, they wanted the same questions answered and needed to push closing another day. At this point, I just allowed the seller to decide if they wanted to delay another day; otherwise, I would just pay using cash and avoid PennyMac altogether. I will not get another loan with PennyMac as the mortgage underwriter. It was a 4+ week process , and I provided and paid for everything immediately. I even paid for the appraisal when the purchase still had an inspection contingency and had no idea if the seller was willing to fix potential issues. PennyMac dropped the ball on this one. I have gotten alot of loans, but definitely cannot use ever PennyMac again read more

A disappointing bank. They're very good at collecting payments, but if you make the slightest mistake, there's no one who can or wants to help fix it. I never pay late, and the day I called to make a payment by phone, Del T, (his name), quite arrogant by the way, applied the payment incorrectly, and then not even supervisor K could fix it. They offered me a solution: we'd just wait for the funds to be in the account, and then they'd be returned. Not helpful at all. read more

Pennymac is horrible!!!!! Do not use them if possible. You cannot ever get to speak to a human being unless you are trying to refinance your loan and then they glady pickup right away. Their customer service is horrible. Stay Away! They also did not send my escrow refund when I closed my account in a timely manner. read more

Pennymac customer service agents are terrible. After holding an hour to speak with someone, the agents are so ill trained all they do is read from scripts and do not actually address any issues. Be sure to check your statements because they placed our payments in an account they label "suspense " and don't apply the payments to the outstanding balance due. They then charge additional interest while holding your money, and report you to the credit bureau for late payments, even though they received our payments on time but they just mistakenly put it in a suspense account instead of applying it to our balance due. We have spent countless hours on the phone to get our payments out of suspense and applied to our account. No one who works for Pennymac could even tell us what a suspense account was or why they were putting our payments in that account. Avoid this lender or you will spend countless hours just making sure they apply your payments. read more

PennyMac has put me through hell for four months. They calculated my escrow wrong and raised my payment. Since then, I have been fighting to get it fixed. Three different people told me they fixed it, but none have. The only way to make this nightmare end is to pay the $80 they think I owe them, even though they did a reanalysis of my escrow account and discovered I will end the year with a positive balance without paying the $80. I want to point out that on the way to the three people I spoke with who said they helped me, there were four other incompetent fools. They are the worst mortgage company I have ever dealt with. read more

My original mortgage holder sold my loan to PENNYMAC and so far so good!! I've got NO Complaints! And will update if any ever happen but I feel like everything is Good from their communication to their App- I like everything 100% read more

Phone agents are nasty and rude. They let them disrespect you and talk over you. I'd be fired if I talked to customers the way they talked to me. Very condescending and unprofessional. read more

If I could give a 0 star I would! They are a joke. My mom passed I was trying so hard to keep her house. No sympathy. Told me to send different things. I sent what they "needed" 6-7 different time; talked to so many different people that gave me different answers and information. After losing my paper work every time I lost everything. DO NOT USE THEM. read more

Changed my escrow distribution schedule with no recourse. Effectively negating any tax payment made in the fiscal year. Shady practice so they can hold on to my escrow for a few more months. I will never work with Pennymac again after this experience. read more

Terrible underwriters. First they didn't like the appraisal that they chose and I paid for. So they paid for another one. That one came in to low, but they wanted to use the 2nd one. We had to do an ROV to contest the 2nd appraisal and between the 2 appraisals and doing an ROV, it wasted 5 weeks with this ridiculous bank! Had to change to a different lender, and cancel this one. Ask the sellers to extend 3x because of changing lenders. Would never use this bank again. Still pending the home purchase, may still lose the home thanks to Penny Mac read more

Don't use them. Especially Veterans. The customer service is garbage and rude as can be. A mortgage is a large part of someone's life, investment, and a big deal. They do not care about the ethics behind it and prioritize only profit. A VA assumable is pretty cut and dry. You see if another veteran qualifies to assume the loan. It shouldn't take twice as long as a regular mortgage closing. You shouldn't be treated like you don't matter either. You shouldn't be a bottom of the barrel priority. This reflects Penny Macs ethics. read more

Experienced the most horrible customer service today with 2 different customer service agents. They were both rude and impatient. One agent insisted that she had already answered my question when I hadn't even been given the chance to ask it. She just kept telling me that she had "already told me" but she was not listening to me just assuming that she had answered the question I had. She persisted on cutting me off and saying the same thing over and over and not letting me speak. I asked for another agent, she put me on hold, and when another agent got on the phone,I could immediately hear in her tone that the previous one had told her something negative about me because she immediately was also rude, short and totally disrespectful, too. These supposed customer service agents are reading from a script it feels like and they don't want to be bothered with anything they may not be able to handle. They don't seem concerned at all about the customer! They act and sound like robots just following a script. I will be getting out of this company as soon as possible and do not recommend it to anyone who wants to feel genuinely cared for. read more

Awful experience with PennyMac. First, the company failed to pay my homeowners insurance this past year, no reason, no explanation, same mortgage and insurance for years, PennyMac just never sent payment and my insurance lapsed. Then I'd started the process of acquiring a PennyMac home equity loan, was more than qualified, submitted all requested documents, and then each day, the processor wanted one more thing, two more things, all the requests were in writing, often indecipherable, often reflective of documents I'd already submitted. The loan agents didn't seem in touch with the processors, and would then explain what they thought the processors meant, it was all messy and unprofessional. I'm now taking my entire mortgage elsewhere, which will be a little expensive but worth it to be finished with PennyMac. Praying they don't buy my mortgage again. read more

My brother bought a home through Penny Mac in 2019. He died in 2020 and Penny Mac foreclosed on his home. Penny Mac didn't try to contact any family to try to save his home. Instead they are blaming him for dying and not paying his loan. I didn't learn about my brother's home until Nov 2024. Penny Mac has not been helpful, they've foreclosed on the home. When speaking to customer service trying to get help, I have been met with hostility. Even though they will tell me they're sorry for my loss and thank my brother for his service, they're taking his home. My brother Jimmie Dickerson was a Vietnam Veteran, he suffered his whole life from his injuries, because of his injuries he was denied children. Veterans don't like to talk about their experiences in the war. But he did tell us one story. He was the only Black Man in the Marine Platoon. Their truck hit a mine and blew up. In Vietnam because there were so many men dying, they would dig a long trench to bury the bodies. When the caskets return back to the states, there's no body in there, that's why the Govt don't let the family open the caskets. My brother was in the trench because they thought he was dead. He said he had to use all his strength to raise one finger to let them know he was alive. Before the soldiers were buried in the trenches, lye would be poured over them to keep the odor of the decay bodies from smelling. My brother suffered mentally and physically from the war, and our family suffered with him. Most people don't know or understand how much Veterans suffer and their sacrifices they give to the USA to protect the very people at Penny Mac that is taking his home. Instead the supervisor was bragging to me about how he has foreclosed on thousands of Veterans and their families homes to put them out in the streets to be homeless. I can't save my brother's home, I hope to save and honor his legacy and sacrifice he made to America. When people say thank you for your service to a Veteran doesn't mean anything when the govt and society are failing them. Let Penny Mac know that you stand with Veterans and their families that they deserve to have homes and not to be foreclosed on because of greed. Penny Mac 1-800-777-4001. My brother's home: 103 Bethann Loop, Taylor TX. 76574. Go by that home and leave flowers, show that someone cares about Veterans. I love you Jimmie and I'm sorry I couldn't save your home. Love your Sis. read more

Pennymac Loan Services - Honor Marine Veteran Jimmie Dickerson - Mortgage Lenders Near Me - Henderson, Nevada

They're online services are horrible. I tried to change my automatic payment information and instead it made an additional monthly payment. I called the help line right away, and after going through their horrible phone tree finally got to talk to someone who told me there was nothing he could do. He told me I would have to put a stop payment on the additional payment. I told him my bank would charge me for that and he could care less. Absolutely horrible website and terrible customer service. Do not use this mortgage company. read more

we applied for an equity loan for the purpose of completing some renovations that were not finished. we explained this to the loan officer. we were approved for the loan. after 5 weeks of back and forth because they can't read an employment verification report, they said we needed to complete the renovation before they could release the funds. our house was appraised at over $200k more than we owe on the current mortgage which is with Pennymac. They are idiots they cancelled the loan after we ex to them that the reason for the loan was for the renovation completion which was explained at the beginning of the loan. don't wast your time go to a better business. read more

If you have have an insurance claim with them it is a nightmare. The insurance claim check department people are clueless and are not all trained equal that is for sure. Each person you talk to will have a different answer and hold up the processing for weeks. They require a home inspection to pay out when complete which is fine. However when they can't seem to get that set up for weeks and then when you ask about the company they use I was told to google Safeguard to get a phone number to call and set something up. They are nothing but a joke. Then when they still require more information they do not bother to tell you what it is they need. When calling you have to waste over 4 minutes of your time listening to useless menus to finally be able to press 0 to get a person. The menu keeps telling you to go to the website. However once you hit their cost threshold of over 40k in damage you can no longer login to the website and see anything with your account you must call. Then listen to their crap to go online when you can't. It is nothing but a giant waste of time and then late fees pile up as they continue to hold on to your funds for the contractors who did the work. They do nt care if the payments are late and fees are incurred as they are not paying them but you damn well know if I didn't pay my house payment they would have issue. Such a poorly run company!!! read more

Over the past 2 months Pennymac has been a nightmare. Like others, they have been deducting escrow and NOT PAYING the country taxes. I have called them over 8 times attempting to resolve the issue and after hours of talking to multiple employees and two managers my issue remains unresolved. I now have penalties due to the state and although I was promised by the manager that I would not be responsible for them nothing has been done. Taxes remain unpaid and new penalties quickly approach. read more

Working with PennyMac was easily one of the worst experiences I've ever had with a company. This isn't our first mortgage and PennyMac holds our first mortgage because it was sold to them, that made me think this would be an easy straight forward process. At first it was great, our loan officer, Nestor, was awesome to work with. In my opinion he was dishonest about the rate lock and refused to go back and listen to the call but overall he wasn't bad to work with. The moment our file went to processing to Latrice Autry the nightmare began. She never knew what was going on with our file. She straight up did not know how to do her job, couldn't answer questions, couldn't explain things to us. We had to tell her the same thing 4+ times, everything Nestor was told, she wasn't tracking any of it, it was like starting over from ground zero. She asked for the same document 2 or 3 times. She never had answers and was incapable of communicating effectively with us and the other parties involved. We asked for a new loan processor 3 times and never even got a response regarding that. She stopped communicating with us and sent us a notice that PennyMac wouldn't be working with us anymore after going through the entire appraisal process and everything. I still don't understand why this happened, she wouldn't explain it and just ceased communication. She deserves to be fired by PennyMac, she is incapable of doing her job. Thank god for a capable local lender for saving us. read more

Rebecca was the ONLY rep that was compassionate, competent , and kind. Other than that, in my (7) years of being " serviced by them.....THE WORST! Not my 1st house, but it will be my last with them. My mortgage got sold to them, then everything went bad. Could confirm payments and escrow after sold. Terrible, except for Rebecca in Modification. Thank you truly, you should be higher up. God bless. I pray you all get better. read more