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Business Profile

Mortgage Lenders

PENNYMAC
BBB accredited business seal
BBB Accredited BusinessA+Rated by BBB

Reviews

This profile includes reviews for PENNYMAC's headquarters and its corporate-owned locations. To view all corporate locations, see

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PENNYMAC has 17 locations, listed below.

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    Customer Review Ratings

    3.65

    Average of 661 Customer Reviews

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    Review Details

    • Amanda S

      Date: 08/04/2025

      If I could give PennyMac zero stars I would. They have been a complete NIGHTMARE to work with during the sale of our home and assumption of our loan to the buyers. The loan processor has been UNRESPONSIVE and IRRESPONSIBLE through the entire process. We were advised that the loan was complete and approved on July 16th. We were asked what day we would like to close. We agreed on July 31st. Then a couple days before, the buyers were told documents were still missing. The loan processor never confirmed with the closing department that the 31st was available. They tried to move the date to SEPTEMBER. Then we were promised August 4th but stopped hearing back from anyone at Pennymac. Even when I called to get a supervisor on the phone, no one can give us any definitive answers on the situation. Our title company has had the same issues tying to get ahold of anyone at Pennymac. When we do talk to someone, they promise they will take care of it and we are still on schedule to close by August 4th in the morning. It is not the afternoon on August 4th and Pennymac has still been unable to send the final closing documents. In fact, we found out the closing date is showing a dat of August 8th. If you are military, veteran, retired, or disabled veteran, I DO NOT RECOMMEND YOU USE THIS LENDER!! They will completely ignore you and not take into consideration the stress of moving or scheduling time off work to go and complete the necessary documents. This company is completely unprofessional and have been an absolute embarrassment.

    • Humbert M

      Date: 07/30/2025

      Great team highly recommend. Walk me step by step to the finish line

    • Jonathan P

      Date: 07/29/2025

      I was refinanceing with cash out. They said I had to increase dweling coverage from $493700 to $677036. My insurance agent said it is not legal to do that based on square footage. I worked with them for over a week to get this increased inquirement removed

    • Dominique W

      Date: 07/16/2025

      We already had our initial home loan from Pennymac, utilizing our VA benefits. It was easy the first time and the entire team made it easy to refi the second time. Every loan member was available, professional, and polite.

    • Elizabeth T

      Date: 07/09/2025

      My husband and I wanted to make biweekly mortgage payments. We were told we had to make an extra monthly payment in advance. So we made 2 mortgage payments in the month of May. The first automatic withdrawal was supposed to be on July 1st. No automatic withdrawal still on July 9th so I called to ask why. Well guess what!? Since the second payment in May was made on May 29th it was applied to the payment for June. So now they want another advanced payment to start the biweekly mortgage payments. There is a note documenting the conversation regarding the initiation of biweekly payments to provide proof, but sorry, they need more money. I will NEVER deal with the shady practices of Penny Mac ever again in the future and I will be refinancing with a more reputable company.

    • Kelly A

      Date: 07/09/2025

      Worst customer service. All over their website, they claim to offer financial help and support. I contacted them because somehow I missed a payment and they are not willing to work with me. I wanted to skip a payment and pay it at the end of the loan, so that I don't continue to get charged late fees. I have been their customer for 15+ years and never missed a payment. I have been racking up late fees every month. I was told that they don't have a program to help me. I was told to "borrow money from someone to pay it off" or "pay more each month to catch up". My monthly payment already went up a ridiculous amount over the years with no explanation, so that is not possible.

    • Stacie A

      Date: 07/03/2025

      WORST COMPANY EVER!! raised my morgage payment every year didn't let me know confronted them they said they did email me and sent a letter never got any of them. I was late on my payment asked them for help they wouldn't help me threaten to foreclose on my house. And charge me $200 late fee which was never enclosed to me. And their customer service is worthless.

    • Deborah C

      Date: 07/02/2025

      Wonderful process. Made the home buying experience stress free. Great communication.

    • Radamed V

      Date: 06/30/2025

      PennyMac is robbing us! They raised our monthly mortgage payment with a fictitious insurance. They state we have to pay their mandatory hazardous insurance. This insurance they are charging us has no coverage to me or my property or my mortgage. It has costs us $3500 a year extra for the 3rd year in the row now, as of today. Also they doubled my property taxes, when my house was just assessed for lower taxes due to my disability and according to them my property taxes went up. In three years my mortgage payment went up $630 due to their bogus insurance and discrepancy for my property taxes. Seeking legal services now. Please don’t use PennyMac! They take advantage of you. I have a friend that has PennyMac and that is a veteran but there ARE NO discrepancies or fake insurance being charged for his mortgage payments and we live in the same state and county, which is Pennsylvania!

    • Binalfew M

      Date: 06/27/2025

      They failed to make my home insurance premium payment resulting in my home not covered for 1 year. I realised my house wasn't covered when I called my home insurance company . They said my mortgage company didn't make the payment and they had to cancel it. They pocketed my money and didn't make the payment . What a scam. Taking them to court.

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