Consumer complaint received 2017-03-14
Company: PENNYMAC LOAN SERVICES, LLC.
State: FL
Product: Mortgage
Sub-product: Conventional adjustable mortgage (ARM)
Issue: Loan modification,collection,foreclosure

Complaint:
We are XXXX , XXXX property owners of unit located at building XXXX Florida, XXXX. XXXX is the borrower on loan # XXXX with Penny Mac. After 3 unsuccessful attempts at Loan Modifications, we initiated a short sale negotiation with that lender, In XX/XX/XXXX. We diligently sent to the lender all the documentation it required for its evaluation of our short sale proposal and followed the lender 's instructions on the listing of the property for sale. The lender commissioned a XXXX ( XXXX ) and it was done in XX/XX/XXXX. The property was listed for sale in the open market for {$130000.00} based on the last sale ( {$140000.00} ) done in the same building with the same apartment dimensions XX/XX/XXXX in a higher floor ( # 507 ), in XX/XX/XXXX. The highest offer received was {$140000.00}. That offer was submitted to the lender and it was rejected. That buyer counter offered at {$140000.00} and would assume payment of the past due {$33000.00} in condominium maintenance fees plus {$15000.00} in repairs that are needed in the unit. The lender responded, wanting {$270000.00}. I questioned their basis for their estimate and the lender sent back comparable on luxurious buildings that were not within the same price range and did not have the same accommodations as the subject unit. I responded with a comparable sales report of 2 units in the same building ; one was a XX/XX/XXXX ( unit # 507 ) in a higher floor, sold in XX/XX/XXXX for {$140000.00} and the other was a fully-remodeled XX/XX/XXXX ( unit # 604 ) in a higher floor, sold in XX/XX/XXXX for {$160000.00}. The lender replied with another counter offer, for {$210000.00} on XX/XX/XXXX. The unit was thereafter listed for sale for {$210000.00}. No one has asked to be shown the unit or made an offer for that price or any price since that listing. I repeatedly pointed out this to the lender, throughout the many telephone conversations we 've had since XX/XX/XXXX. I have also requested in several occasions to escalate the file for a price review and also asked for the contact information for the investor who owns this mortgage, as each request for a price review was not answered with any grounds supporting the {$210000.00} price. The lender 's representatives told me I needed to send a fax requesting the contact information and that a prompt response would be sent back to me. None was ever sent in response to my fax. Each time I telephoned to ascertain why the contact information had not been sent, I was informed it would be sent to my XXXX address the lender has on file for me. None has been received. I feel we have not been fairly treated, despite our best efforts to fulfill the short sale requirements. We have a buyer who is still interested in buying the property, the sale price is within the range of the market value, as confirmed by the comparable sales provided to the lender, and the buyer is also assuming the payment of the {$33000.00} in condominium maintenance fees and the {$15000.00} cost of the repairs needed by the unit. 

XXXX FL XXXX Telephone : XXXX

Company response to consumer: Closed with explanation