Complaints
This profile includes complaints for PENNYMAC's headquarters and its corporate-owned locations. To view all corporate locations, see
Customer Complaints Summary
- 687 total complaints in the last 3 years.
- 224 complaints closed in the last 12 months.
If you've experienced an issue
Submit a ComplaintThe complaint text that is displayed might not represent all complaints filed with BBB. Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business.
Initial Complaint
Date:07/29/2025
Type:Status:AnsweredMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
Pennymac intentionally refused to answer questions from my homeowners insurance company to cause a lapse in coverage so they could cause a lapse in coverage. So, then they could hire their insurance company at a much higher premium.
Business Response
Date: 07/29/2025
Thank you for bringing this matter to our attention and allowing
PennyMac Loan Services, LLC (“PennyMac”) the opportunity to review and
respond to Mr. G*******'s concerns.
PennyMac strives to provide superior customer service and respond to
all inquiries in a timely manner. A detailed letter of explanation will
be sent to Mr. G******* under separate cover within 15 calendar
days.
PennyMac values and protects its customers’ confidential information.
Due to privacy reasons, we will refrain from posting any personal
information to the BBB site
as we do not disclose our borrowers’ personal information.Initial Complaint
Date:07/29/2025
Type:Status:AnsweredMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
On 11.21.24, I contacted Pennymac for assistance with my mortgage payment. I was put on an informal payment plan but never received anything in writing and my account never reflected these changes. I called on 7/22, 7/23 and 7/24 because it was reported that I missed my February payment, which I did not. I received a call today from an extremely hostile employee who was super aggressive and unprofessional who is now telling me that I missed my January payment. I spoke to four other representative who all told me multiple times that I did not have to pay my January payment. I am just requesting that this missed payment be taken off my credit report.Business Response
Date: 07/29/2025
Thank you for bringing this matter to our attention and allowing
PennyMac Loan Services, LLC (“PennyMac”) the opportunity to review and
respond to Ms. G********'s concerns.
PennyMac strives to provide superior customer service and respond to
all inquiries in a timely manner. A detailed letter of explanation will
be sent to Ms. G******** under separate cover within 15 calendar
days.
PennyMac values and protects its customers’ confidential information.
Due to privacy reasons, we will refrain from posting any personal
information to the BBB site
as we do not disclose our borrowers’ personal information.Initial Complaint
Date:07/29/2025
Type:Status:AnsweredMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
I am filing this complaint because I have encountered repeated issues with PennyMac’s online payment system. The “Make a Payment” link on their website does not work, while all other parts of the site function correctly. I have attempted to pay my mortgage through the site and found that this issue has persisted, despite no other signs of system-wide outages.
I find this problematic and potentially intentional, especially since I’ve had issues with PennyMac in the past. This specific link failure obstructs my ability to meet my financial obligation and puts me at risk of unnecessary fees or negative credit reporting.
I contacted PennyMac via email to document the problem and requested that they resolve the issue and confirm that no penalties will result. However, I am not confident that this recurring issue will be properly addressed without external accountability.
I am requesting that PennyMac:
Immediately restore full functionality to its payment portal,
Provide alternative payment options when the website fails,
Guarantee that no adverse credit reports will result from their system’s malfunction.Business Response
Date: 07/29/2025
Thank you for bringing this matter to our attention and allowing
PennyMac Loan Services, LLC (“PennyMac”) the opportunity to review and
respond to Mr. F***'s concerns.
PennyMac strives to provide superior customer service and respond to
all inquiries in a timely manner. A detailed letter of explanation will
be sent to Mr. F*** under separate cover within 15 calendar
days.
PennyMac values and protects its customers’ confidential information.
Due to privacy reasons, we will refrain from posting any personal
information to the BBB site
as we do not disclose our borrowers’ personal information.Initial Complaint
Date:07/29/2025
Type:Status:AnsweredMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
I am writing to bring to your attention a fraudulent account that has been opened in my name with PENNYMAC LOAN SERVICES
. I am a victim of identity theft and did not authorize the opening of this account. Below are the details of the fraudulent account:
Creditor Name:PENNYMAC LOAN SERVICES
Opened Date: 7/22/2016
Account Number:SSE001XXXXXXXXXX
I kindly request that you close this account immediately and remove any negative information associated with it from my credit report. Additionally, I would appreciate it if you could provide confirmation of the account's closure and any relevant documentation related to the fraudulent activity.Business Response
Date: 07/29/2025
Thank you for bringing this matter to our attention and allowing PennyMac Loan Services, LLC (“PennyMac”)
the opportunity to review and respond to Ms. M****'s concerns.
PennyMac strives to provide superior customer service and respond to all inquiries in a timely manner. A
detailed letter of explanation will be sent to Ms. M**** under separate cover within 15 days.
PennyMac values and protects its customers’ confidential information. Due to privacy reasons, we will
refrain from posting any personal information to the BBB site as we do not disclose our borrowers’ personal
information.Initial Complaint
Date:07/24/2025
Type:Status:ResolvedMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
I am writing with urgency and serious concern regarding recent late payment entries reported on my credit file for the following accounts: PENNYMAC (#SSE***********) and TOYOTA MTR (#*********2153**). These entries are incorrect and do not reflect my payment history. I have consistently paid all my obligations on time and have verified, through both personal records and direct contact with the service providers, that a technical error in the payment gateway caused the delay. Despite my payments being initiated on time, the processing issue resulted in them being recorded late. This situation is highly distressing, as I have always taken great care to maintain a responsible financial profile. The incorrect negative marks are unfairly damaging my credit and do not represent my financial behavior. Therefore, I respectfully urge your office to investigate and immediately remove these inaccurate reports in accordance with the Fair Credit Reporting Act (FCRA). I have attached all required identification documents, including my SSN, ID, and a recent utility bill, to support my claim. I ask that this matter be treated as time-sensitive, and that I receive written confirmation once the corrections have been made. Thank you for your prompt attention.Business Response
Date: 07/24/2025
Thank you for bringing this matter to our attention and allowing
PennyMac Loan Services, LLC (“PennyMac”) the opportunity to review and
respond to Mr. E**********'s concerns.
PennyMac strives to provide superior customer service and respond to
all inquiries in a timely manner. A detailed letter of explanation will
be sent to Mr. E********** under separate cover within 15 calendar
days.
PennyMac values and protects its customers’ confidential information.
Due to privacy reasons, we will refrain from posting any personal
information to the BBB site
as we do not disclose our borrowers’ personal information.Customer Answer
Date: 07/25/2025
I have reviewed the response made by the business in reference to complaint ID 23650318, and find that this resolution I am not satisfied
Regards,
****** E**********Initial Complaint
Date:07/24/2025
Type:Status:AnsweredMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
This company is a scam, and only wants to take your house from you in the end.
In the time I have been with PennyMac (Since March 2023) we have paid them nearly $50,000 in payments. Unfortunately during that time, my wife and I have experienced some financial hardships, an have gone from being able to pay a month early, to being forced to pay on the last day of the grace period each month.
I contacted Pennymac to try and get a Forbearance for the loan, however, they are telling me my account HAS to be delinquent before they can explore that option, also telling me that is the requirement from FHA by law.
After doing quite a bit of research, that is not true. FHA standards to not require my account to be delinquent before issuing a forbearance. That was a straight lie from Pennymac. They also told me "the investor" had no solutions since my account is current. Who is "the investor"?
What I don't understand, is forcing customers to put themselves in situations for potential foreclosure, before they can help them. Especially when the FHA, federal funded loans, the government does not want you to loose the home, and suggest there are multiple ways for lenders to help customers. This company ignores all of them. They lie, and tell you they can't help you. They beat around the bush, and don't give legitimate explanations.
This feels like a major ploy to try and take my house from me, when i've already paid $50k into the loan, and that has only accounted to $3k of my payment. After all this money paid into them, they can't help me for the next few months by doing a forbearance, which I have to pay back anyway in the long run.
This company will loose nothing from helping me, but by them not helping me, they are putting me in a situation to be homeless, with a Pregnant Wife, and a 2yo daughter.
I would never suggest this company to anybody, and I am unfortunately stuck with them after they bought my mortgage from Paramount Mortgage Group.Business Response
Date: 07/24/2025
Thank you for bringing this matter to our attention and allowing PennyMac Loan Services, LLC (“PennyMac”)
the opportunity to review and respond to Mr. C*******'s concerns.
PennyMac strives to provide superior customer service and respond to all inquiries in a timely manner. A
detailed letter of explanation will be sent to Mr. C******* under separate cover within 15 days.
PennyMac values and protects its customers’ confidential information. Due to privacy reasons, we will
refrain from posting any personal information to the BBB site as we do not disclose our borrowers’ personal
information.Customer Answer
Date: 07/24/2025
I am rejecting this response because this is the same blank response you give everyone else. This just goes to show you aren't here to help customers, and don't actually care. You don't strive for good customer service, if you did, you would be calling instead. What a joke.Business Response
Date: 07/25/2025
Thank
you for the additional information, and for speaking with our Priority
Complaint Specialist on July 25, 2025. Please be assured you will
receive a formal response addressing each of your concerns. Due to privacy
reasons, we will refrain from posting any personal information to the BBB
Site. This response will be mailed to you under a separate cover within
15 calendar days.Customer Answer
Date: 07/25/2025
I am rejecting this response because: I requested information by email. Not a letter to my house. Went over the information with your specialist, and he assured me I would be contacted by email. Yet again, you show a lack of care! I intend to be contacting FHA, because I am tired of the lies.
Regards,
****** C*******Initial Complaint
Date:07/24/2025
Type:Status:AnsweredMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
On July 22, 2025, I received a claim settlement letter from Assurant related to roof damage at my residence caused by a windstorm (Claim #00********3). The letter stated a $7,300 deductible was applied, which is significantly higher than the $2,500 deductible clearly listed in my active insurance agreement under Policy #2M********00.
The insurance company has not provided any justification for this discrepancy. I have reviewed all relevant documents, including the Residential Dwelling Certificate issued under Master Policy MIP-RCH-*****-99, which explicitly states a $2,500 deductible for windstorm damage.
I contacted Assurant via email on [insert today's date] and requested that the claim be reprocessed with the correct deductible amount. I have given them 5 business days to respond and resolve this issue.Business Response
Date: 07/24/2025
Thank you for bringing this matter to our attention and allowing PennyMac Loan Services, LLC (“PennyMac”)
the opportunity to review and respond to Mr. T******s concerns.
PennyMac strives to provide superior customer service and respond to all inquiries in a timely manner. A
detailed letter of explanation will be sent to Mr. Taylor under separate cover within 15 days.
PennyMac values and protects its customers’ confidential information. Due to privacy reasons, we will
refrain from posting any personal information to the BBB site as we do not disclose our borrowers’ personal
information.Initial Complaint
Date:07/23/2025
Type:Status:AnsweredMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
I entered into a trial period for my loan in which I paid and completed in agreeance. After two trial periods, both 3 months in length, I entered the VASP program in Jan/Feb 2025. My loan was then modified and essentially a brand new loan after the forbearance for COVID 19 had ended. November, December (2024) and Jan, February (2025) are being reported on my credit report as 180 days late, all four months. Although, you can also see on my credit report that I made payments, in the agreed upon, full amount, prior to these months and after these months, also, during these months. Therefore, they should not be showing as late, let alone 180 days late. I have tried to talk to them and get a different response every time. I have also disputed this through CFPB and the three credit reporting agencies.Business Response
Date: 07/23/2025
Thank you for bringing this matter to our attention and allowing
PennyMac Loan Services, LLC (“PennyMac”) the opportunity to review and
respond to Ms. S****'s concerns.
PennyMac strives to provide superior customer service and respond to
all inquiries in a timely manner. A detailed letter of explanation will
be sent to Ms. S**** under separate cover within 15 calendar
days.
PennyMac values and protects its customers’ confidential information.
Due to privacy reasons, we will refrain from posting any personal
information to the BBB site
as we do not disclose our borrowers’ personal information.Customer Answer
Date: 07/23/2025
I am rejecting this response because: this is my second time disputing and the first time got no documentation as to the findings or why. It has taken me several times and hours on the phone to talk to anyone and I get different responses every single time.
Regards,
Jessica S****Business Response
Date: 07/28/2025
Thank you for the
additional information. Please be assured you will receive a formal
response addressing each of your concerns. Due to privacy reasons, we
will refrain from posting any personal information to the BBB Site. This
response will be sent to you under a separate cover within 15 calendar days.
Additionally, a
Priority Complaint Specialist attempted to reach you by phone on July 25, 2025 , and
provided a voicemail for a callback. We encourage you to make contact, to
further discuss, at your earliest convenience.Initial Complaint
Date:07/21/2025
Type:Status:AnsweredMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
Customer service is terrible, doesnt speak English, accents sound like its located in a different country. Website is terrible, very hard to make any documents upload.
I got married and ive been trying to update my last name from L********* to L********* Reponen on Pennymac. I submitted marriage certificate multiple times, changed and submitted insurance with new name multiple times. They originally told me they received it. Then they told me to submit it again. And again. Its scary we pay so much monthly to such irresponsible bank. They are a joke. Just update the last name and issue me my escrow refund check so i can actually cash it. Im so tired of callingBusiness Response
Date: 07/21/2025
Thank you for bringing this matter to our attention and allowing PennyMac Loan Services, LLC (“PennyMac”)
the opportunity to review and respond to Mrs. L********* Reponen's concerns.
PennyMac strives to provide superior customer service and respond to all inquiries in a timely manner. A
detailed letter of explanation will be sent to Mrs. L********* Reponen under separate cover within 15 days.
PennyMac values and protects its customers’ confidential information. Due to privacy reasons, we will
refrain from posting any personal information to the BBB site as we do not disclose our borrowers’ personal
information.Initial Complaint
Date:07/17/2025
Type:Status:AnsweredMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
My morgage company, Pennymac. Has been taking out a larger amount out of our Wellsfargo banking account, This month was 2104.39 and showing a smaller amount on the Pennymac morgage receipt of 1754.39 I have only checked back for the last 6 months, and all 6 month are the same way! A larger amout of money taken out of our banking account and a smaller amout posted on the Pennymac morgage side! You would think the Bank side and morgage side would reflect the same amount? I have talked with them and emailed them on Monday and have not gotten a reply. I am not sure how long this has been going on? Please help or let me know what my nent step should be? We need to check the last 4 years sence we started with Pennymac.Business Response
Date: 07/18/2025
Thank you for bringing this matter to our attention and allowing PennyMac Loan Services, LLC (“PennyMac”)
the opportunity to review and respond to Mr. M****'s concerns.
PennyMac strives to provide superior customer service and respond to all inquiries in a timely manner. A
detailed letter of explanation will be sent to Mr. M**** under separate cover within 15 days.
PennyMac values and protects its customers’ confidential information. Due to privacy re****s, we will
refrain from posting any personal information to the BBB site as we do not disclose our borrowers’ personal
information.
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