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2201 West Plano Parkway, Ste. 150, 300, Plano, TX, 75075, United States
Get directionsGood company !
This is easily the worst loan transaction I've ever done (and I've done about 20). My loan took over 5 months to close (5 months!) with no reasonable explanation whatsoever. I have perfect credit and quickly provided ALL the required info, so there is no reason why this should not have been closed promptly. You guys did hold the original mortgage, so that again also should have been easier. I have additional refinances that I am doing, that will NOT be done through PennyMac.
The entire PennyMac team was terrific from the start. At each point in the process from inquiry, application, processing to closing they kept me updated on status, made sure I was ok with next steps and made sure all my questions were answered. I never had to guess and was always updated. Raven, Nicholas and the entire team with me every step of way. Thank you for your attention and time!
Long delays and inaccurate numbers
This loan process took longer than expected but completely understand it was due to COVID-19 and the number of other customers wanting to also take advantage of the new lower interest rates. Blen was very pleasant to work with and empathetic to my slight frustrations on the delays. She served a good sounding board and provided very detailed status’ of my case. As always, I’m very pleased working with the staff of PennyMAC.
reserve the right to share at a later date
My mortgage manager was non responsive and had yet to return any of my emails. She never confirmed reception of any document I sent her so I had to follow up with her, yes my to customer had to follow up with her to confirm she received the document I knew I sent. Luckily I was able to receive support from my initial penny Mac loan estimator who was able to support me through the document phase.
Better communication.....unable to reach people by phone to clear up mistakes or problems.
It was very difficult to get answers from our original agent. The closing took close to three months and documents requests continually changed. For example, I specifically asked up front if a condo questionnaire was needed as was told no. Then a long form was requested a few months in. We closed our HELOC to get lender credits yet getting them placed on the closing disclosure as promised required me to call at least a dozen times.
PENNYMAC has a 4.4 star rating with 6,791 reviews.
PENNYMAC is permanently closed.