PENNYMAC Reviews 1,750

WORST COMPANY EVER!!! Made payments online for months then they said they couldn't be processed. Its their system failure but then they charge fees! And good luck speaking with a supervisor!! Idiots! Just trying to pay my mortgage which I do on time always. Nothing but bad interactions with stupidity breathing v through the phone on their end. It asked for date of experience....how about EVERY SINGLE TIME.! GET YOUR CRAP TOGETHER! HIRE A CONSULTANT IF YOU WANT TO STAY IN BUSINESSES

I had multiple issues throughout the process. The original loan officer basically sold me the loan and I didn't hear from him again. The processor that took over didn't know various parts of her job. I didn't have half the closing information DURING the closing process which results in not being able to get the keys when we closed. I had to submit documents multiple times. It constant seemed like the left hand didn't know what the right hand was doing. If it wasn't for getting the lowest rate, I would have ended the process and gone with someone else.

August 0f 2024 I was trying to get an IRRL on my existing mortgage, which I had with Pennymac. The agent handling my account made initial contact, gave me a list of things to submit, which I did, but then stopped communicating with me for over a week! He had told me that since it was supposed to close in September, I would not have to make my September mortgage payment. When I realized things were not going as I thought they should, I called them and complained about the lack of communication. I was assigned a new agent, but everything was a mess, including the documents I had submitted nowhere to be found. So I ended up "missing" a payment, but fortunately MyVeteransUnited stepped in and my mortgage is now with them. I've tried to get that mark removed from my credit score by calling them, and they gave me the old "we'll do our own investigation and get back to you within 30 days"...EL TORO POOPOO! It's been over 60 days since and, of course, NOTHING! So since my only recourse is putting them on BLAST, I am warning any who will listen - STEER CLEAR!!!

DO NOT USE THIS LOAN COMPANY!!!
THIS HAS BEEN THE WORST EXPERIENCE. They reported my loan as late when I made my payment and refuse to correct my credit report. I spoke to Tamatha who had called ME about the concern which had to be sent up to the complaint department. I have never spoken to someone who is so unprofessional and tries to belittle someone over the phone. They used intimidation and kept yelling at me. They refused to provide me with a supervisor until I answered their question. I am appauled.

From start to finish, the entire process went so smoothly thanks to both Ricardo and Veronica!

The people at PennyMac were very helpful as they guided me through the loan application process for the package that was suitable for me.

Great experience from start to finish. Locked in great interest rate for current market conditions. Couldn't be happier with the service we got. Thanks PennyMac.

From the initial call to closing on a refinance with cash out, the transaction was smooth. We didn't qualify for the HELOC requested, but they explained with a cash out, we would save 2000.00 a month paying off our unsecured debt. They backed it all up with documentation to show our savings. We went from a 3% to 5.99% , which in today's market is a great rate. From Start to finish it was only 22 days.

Amazing experience! Great people that I worked with, timely, professional, detail driven and kept me in cadence with what was happening. Very smooth through to close. Nicely done.

If I could give a negative number I would. Long story, but.......My son held a mortgage with PennyMac and was killed in a military training accident in April 2023. We, his parents were the beneficiaries of the property and due to the VA loan we should be able to assume the loan and we want it to go into our name.

2 years later and after making EVERY payment and insurance, they are still saying we need one more thing. I have documentation that I have requested the list of items needed to accomplish this task on 22 separate occasions and they either won't or can't provide that list. I have had to resubmit items multiple time (for example updated Social security cards) seriously.........please pay the extra percent or whatever and run as fast as possible from PennyMac.

The most recent item they have told me is that the forced flood insurance that I have to pay for thru them is not acceptable so I have to get other flood insurance.......but they can't tell me what is needed. So PennyMac forces unacceptable flood insurance and then you need to go get additional flood insurance because the PennyMac insurance isn't acceptable. Let that sink in.

The word nightmare comes to mind. Please please please give your hard earned money to a company that actually cares a bit.

Customer service was amazing. Complex dealings with buying a newer home were explained to me to my satisfaction and understanding. Pennymac had the lowest rate out of 5 competitors i had quoted.

Grace Sparks is hands-down the best loan officer I’ve ever worked with. She didn’t just handle the process—she owned it. From day one, she was organized, responsive, and one step ahead of everything.

Grace worked after hours, coordinated directly with underwriters, and kept me in the loop every step of the way. She explained everything clearly, stayed calm under pressure, and made what’s normally a stressful process feel smooth and simple.

Most importantly, she cared. She checked in on me—not just the paperwork—and made me feel like more than just another file.

If anyone deserves a promotion, it’s Grace. She’s not just great at her job—she’s elite. I’d work with her again in a heartbeat.

Been with PennyMac for more than a decade. Financed, Re-financed, just bought our retirement home with VA loan, Closing in record time, during which they did ALL the hard work. Awesome!

They signed for a UPS delivery of my VA SAH Grant on June 16, 2025. This is a significant amount of money that will cut my mortgage in half. They have yet to apply it to my principal. I was called by PennyMac on June 25, 2025 that it would be applied within 24 to 48 hours. Three days later, still not applied. As a 100% Disabled Veteran, I cannot believe the terrible customer service and lack of response to my inquiries.

Poor customer service and leadership! I can't wait to move my loan to another loan company!

Customer service below zero, can't speak English or explain loan activity, raising voices and overall poorly trained and unprofessional ! They do not deserve even one star, as we have had too many issues with them over just a few years!

Applied for a HELOC and received a loan estimate.
Had a couple of questions for the loan officer Damian. Received no response, followed up with another email, again no response whatsoever. Being "ghosted" for 3 weeks.....Fortunately there are other options.

Had an issue with them removing the PMI insurance. After several phone calls, I got it taken care of and now everything is good.

Ruined my credit score. I make on-time payments on mortgage. Their system was unable to process it. Called back, although they can inform credit bureau they chose not to.

They also make spam calls.

Poor customer service and horrible website interface. Navigating the phone customer service is infuriating at best. When I finally got to a real live person they were not helpful.