Pennymac Reviews: 313 User Ratings (2024)

5 Star Rating

I had an amazing experience with Pennymac. Everyone I communicated with remained friendly and helpful throughout the process. It was a seamless process!

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1 Star Rating

Sold my home and paid off the loan, but they are showing me as late on my last payment, which wasn't due until after the loan was paid off. This dropped my credit score by over 100 points, even though I had never been late even once on this account, and all of my other accounts (credit cards, etc.) are all in good standing.

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5 Star Rating

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1 Star Rating

I am a mortgage broker, and PennyMac has not been truthful. PennyMac misrepresented that I could have escrows removed below 80% LTV. After obtaining a new appraisal showing 74% LTV, they then stated it must be 70% and are using my lowest FICO score for qualification. I did not authorize a credit pull, and conventional guidelines state escrow can be removed below 78% if requested. I will no longer refer my clients to them.

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5 Star Rating

I have worked with Pennymac for my home loan and home equity loan. Their team has consistently been professional and always willing to help. They have been timely and consistent in their messaging. I have had many positive experiences with Pennymac and would highly recommend them.

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5 Star Rating

I had a great experience. The website is so easy to use and tracks the progress of your loan through the process. My guy, Russ Martin, was very available and would return text messages on the weekends and evenings. I would highly recommend!

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1 Star Rating

Changing closing costs at the last minute of closing resulted in a very poor experience with the Pennymac lender. Adequate information was not provided by Pennymac regarding the last-minute change in cash required to close.

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1 Star Rating

They completely mishandled my escrow account. As terrible as that mistake was, the customer service was even worse. They take no responsibility and will not provide a single point of contact. Complete incompetence—do not use their services. They do not listen and have no concern for their customers.

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5 Star Rating

Our journey with PennyMac during our move from Texas to Washington state was largely positive. Although we encountered some delays in the processing timeline, PennyMac ultimately delivered a satisfactory outcome, securing us a favorable interest rate. Despite initial hurdles, their team provided invaluable support, guiding us through the complexities of the process with patience and expertise. One area for improvement could be a clearer and more comprehensive document request list upfront, which would have allowed for better preparation on our part. Nonetheless, I commend PennyMac for their dedication to customer service and would recommend them to others seeking a lender that offers competitive rates and helpful assistance throughout the mortgage process. A special shout-out to Mr. Eric Lewis for his unwavering patience and thorough explanations from start to finish.

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5 Star Rating

Excellent process with efficient, effective, and professional personnel.
Outstanding, knowledgeable, friendly people concerned with doing the job right!
Greg & Lauri Rogers

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5 Star Rating

I already had a mortgage through PennyMac, and I just refinanced with them as well. It was very easy to do. They walked me through the entire process. Every PennyMac team member I dealt with was very friendly and quick to respond to any questions I had. They made the whole process quick and it could not have been easier. I would definitely highly recommend PennyMac to anyone looking to finance or refinance a home.

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1 Star Rating

Do not ever do business with this mortgage company! I lost everything in Hurricane Ian, which happened in September 2022. It is now March 2024, a year and a half later, and they still have over $100,000 of my money and are refusing to send it to me. I had to send all of the money from the insurance company to PennyMac. I was told that once I get the house 75% done, they would send the balance of what they are holding. Once I had an inspector, chosen by them, say the house was over 75% complete, they then said that I needed to be 100% done before they would send the money they are holding. I am now 100% done. I had to put everything on my credit card to pay for it. Now they are saying I need a loan modification to make my loan current before they send the money. I signed the paperwork, and the bank received it on February 29th. I was told, and it says in the email I got from them, that it would only take 5 to 7 business days. "Please allow up to 5 to 7 business days for the review and update." They also reported to the credit agencies that I am behind on my payments, and with me using credit cards, they ruined my credit. It went from over 700 to below 500.

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5 Star Rating

Excellent experience with Pennymac. They handled everything. I didn't worry about a thing. They kept in contact with me, letting me know how things were going. Communication was awesome; everything went smoothly. Thank you for helping me get my loan! I recommend Pennymac to anyone looking for loans!

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5 Star Rating

My original mortgage was sold to PennyMac in 2016. I had no issues with their communication or anything in that time. Therefore recently, I chose to refinance my mortgage with them and they were extremely helpful throughout the entire process. As someone who has never completed a refinance, as this is my first home still, I was not sure what to expect, and everyone I interacted with at PennyMac was helpful and answered any and all questions I had. They made sure I did not have any surprises during the process and everything was completed extremely quickly. I would recommend working with them if you are in the market for a home loan or are looking to refinance.

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5 Star Rating

My experience with refinancing my house went very smoothly. Adam Burriesce made the process go very smoothly. He even called me when he got an alert that I had logged in to access my portal, and he talked me through the steps of what I needed to do. Once the loan was in the process of being approved, Yester Gazdjian was excellent in answering any questions I had. She kept me updated every week with the status of my refinance. Together, they made it really simple and painless.

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