PENNYMAC Reviews 1,752

David Spencer at Pennymac caused my cash to close amount on my refinance to be $3,000 higher than what we were promised.

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 Pennymac continues 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 reviews at TrustPilot, Yelp, Google etc who aren’t receiving a payment from Pennymac to recommend them!
NOTICE! Pennymac’s response to reviews here request that you text! Imagine a live person at Pennymac actually wanting to help! RUN don’t walk from Synergy (helping to fill Pennymac coffers!) and Pennymac!

UPDATE!
RESPONSE FROM PENNYMAC is an AUTOMATED TEXT to CALL PENNYMAC! YEP SAME USELESS LINE and NO REAL PERSON to HELP!

12/23/25
STOP Harrassing! How many times will it take?

Barraged by calls, emails, texts to give you more money to rewrite my mortgage!
When I request a call from a Manager it NEVER happens!

Never will I intentionally work with either Pennymac or Synergy who sold my mortgage to you!

You never return calls except to take more money! Scrooge go away! Unlike Scrooge YOU will never change!

DO NOT use this mortgage company! I had an existing mortgage with them for over 10 years, so you would think things would be simple. Instead, they pestered me for six weeks about every little thing. Some documents were asked for and sent several times. Communication is terrible!

Then less than 5 days before closing they denied my loan because they wanted an additional huge amount to close and wanted me to produce more documents. At that point, we had to go to another bank. It was ridiculous.

Another bank closed my loan in less than 3 weeks with no trouble!

In early November, during the federal government shutdown, I contacted PennyMac because my income had been interrupted and I needed temporary relief for my mortgage payment. During that call—which PennyMac records—I specifically informed the representative that the only option I was willing to consider was a deferment of my November payment to the end of my loan term. I made it clear multiple times that I could not afford to make two payments the following month, nor could I take on a repayment plan stretched over several months, due to my already high mortgage payment.

The PennyMac representative repeatedly assured me that my November payment would be deferred to the end of the loan, with no additional lump-sum payments or repayment schedule required. We spent approximately an hour and a half going over the terms in detail to ensure complete clarity. Based on this assurance, I accepted the deferment option exactly as it was described.

It is now December, and when I contacted PennyMac to make my regular December payment, I was informed that they are no longer able to honor the deferment agreement that was promised to me. They are now stating that the deferment cannot be applied as previously agreed, despite the fact that the arrangement was explicitly laid out and guaranteed to me on a recorded call.

This situation has caused significant stress and financial hardship, and it is unacceptable for PennyMac to make a firm promise—especially one related to a customer’s financial stability—and then simply retract it without explanation or accountability.

How about this? Their statement about keeping you in your home is far from the truth. I have faced financial troubles since the last administration caused high inflation and the federal reserve jacked up interest rates. I have asked for solutions from Pennymac and attempted loan modification. However, the modification raised my payment so high that it became unaffordable. I was unable to make all the payments since my autopays with other companies didn't get canceled like I requested, putting us short on funds. I am now less than 3 weeks from a foreclosure sale
What has me upset beyond that is how there is Public Law 119-31, also known as the VA Home Loan Reform Act. And as usual, beurocratic delays has left me without any enforcement. And Pennymac refuses to act reasonably to follow the law citing that there is still no directive from the VA on how to implement the law. One portion of that law gives them directive to apply forbearance for VA loans. One would think that they would have incentive to keep veterans in their homes while we work out our financial problems, or at least until the rest of the law gets fully implemented. But all I have received has been demands for over $51K to reinstate or give up the property. This law provides a partial claims program. Pennymac will eventually get the funds to cover my default.
Veterans beware, they don't care about your service, they only care about their bottom line.

This is the worst institution I have ever had the displeasure of dealing with, customer service and communication is worse than dealing with a government agency. They modify your escrow amounts and do not communicate, Then the payment goes into suspense, and they charge a late fee. I would say that a few state AG Offices should investigate because no one can be this incompetent, has to be intentional. Also horrible wait times to speak with a rep who cannot help anyway.

I was on unemployment forbearance for 5 months. When I called to remove myself from forbearance I was told it had to go under “loan modification” review. I asked if the Oct 1 payment was due and the rep told me “NO”, I would hear something by Oct 15. (Middle eastern person) called back on Oct 15, that person (middle eastern) also told me it was still under review and had another 30 days. What?!? Called back on Oct 17, (American person) and was told the truth. My credit was reported as all 6 months of delinquent payments, to all credit bureaus and my house is under risk of foreclosure! What!!! This is a horrible company

All went well and completion all through the process.

Austin and his team were GREAT!! They got back to me every time I had a question or concern!!!

Very quick and helpful, the team answered every question promptly
and professionaly.

We bought a house back in May and im still fighting to get my loan on auto payment. Each time i call i get someone who i cant understand and a simple conversation turns into an hour or hours. This is my 4th month of being told auto payment is set up for it not to be. I am beyond frustrated. i dont want an auto response to this like everyone else. i just want you guys to do better.

They were quick to respond to any questions I had. They made the loan process easy to manage. Extremely professional. I really appreciated Drew and Norma’s efforts. I’ve never had any issues with Pennymac regarding any of the loans I have with them.

Worst loan company that I’ve ever had in 42 years of owning a home! TRIED to get thru to Cheryl there today and after 1 1/2 hrs of being disconnected, put on hold, no one knew anything about anything, mixed up phone numbers, and no accountability on their end I’m sure Pennymac training of their employees is the worst. I’m so disgusted with this company and they about put my spouse in heart failure! They should be ashamed treating their customers like dirt

WORST EVER MORTGAGE COMPANY. Cannot get any worse than this!!!

This company has a reputation for making erroneous negative comments to credit score companies and refusing to correct them

I have had Pennymac for 10 years and trusted them to do my refinance everything worked out perfectly and appreciate everything they did for us

Seamless process from start to finish! The team kept in contact from start to finish, I have used them multiple time and have never had an issue that wasn't handled in a timely fashion. I would highly recomend!

Two months. TWO MONTHS is what it took to do a simple VA equity refi through pennymac. It started with getting a completely inept VA appraiser who undervalued my house by $70k and then delayed the appraisal report to pennymac for 2 weeks for arbitrary reasons completely outside of her purview & authority as an appraiser. It took another 2 weeks to get a reconsideration request approved to get the value corrected and continue with the refi. Then everyone working on my refi application had absolutely zero clue what they were doing or talking about because more than one occasion I was told one thing but was later found out to be absolutely wrong, as if there was no prior knowledge and was just assumed the information given was correct. Was told numerous times I would be called back within a specific timeframe but that timeframe came and went. Was told prior to closing, during closing and written in the disclosure documents, "A" would happen on this specific date but never did. Our closing disclosure required two signatures on different days due to my wife being on the west coast visiting family so she signed there, and I signed 5 days later. The date to receive our equity cash out did not occur on the agreeed date because THEN I was told due to the separate signatures on separate dates there was additional time required to complete the paperwork and release the funds to the title company. Literally everyone who carried the ball, dropped it..over...and over... and over again. It's like the process to complete your application is a game of darts, but everyone involved came into work shtfaced, slurring and stumbling. Even the VA appraiser joined in too for a couple tosses, and two managers over the loan officers initially working on your application, and you're standing their sober watching them toss darts at the board expecting them to hit the target only to be disappointed when they all hit nothing but the wall the dart board is hanging on. And they're all laughing hysterically every time a dart hits the wall, miles from even the outer edge of the dart board. THAT is how this went with pennymac and THAT is why I will never work with them ever again. In fact, I will go OUT OF MY WAY to find a different company whenever I buy another house wherever and whenever that will be. You couldn't put a gun to my head and force me to go through pennymac again 🤗

I am writing to share my sincere appreciation for the exceptional service I received from Nathan and Jamie during my recent home purchase with PennyMac.

Buying a home can be an overwhelming process, but Nathan and Jamie made it far less stressful. From start to finish, they provided clear guidance, prompt communication, and unwavering professionalism. Their patience in answering my questions, attention to detail, and ability to navigate the complexities of the mortgage process were invaluable.

Because of their dedication and expertise, I was able to move forward with confidence and close on my new home without unnecessary delays or complications. They truly went above and beyond to ensure I felt supported every step of the way.

Nathan and Jamie are both outstanding representatives of PennyMac, and my positive home-buying experience is a direct result of their hard work and customer-first attitude. Please extend my gratitude to them for their outstanding service.

Buying a home can be hectic, dealing with people is challenging. Someone at PM made two excellent decisions to hire Adriana and Sandra. Every step of the way they communicated effectively. They were patient with me. If I was a competitor to PM, I would want people like Adriana and Sandra on my team. Promote them I say. PM is far better with them on board. Top notch performers.