Consumer complaint received 2015-08-05
Company: PENNYMAC LOAN SERVICES, LLC.
State: CO
Product: Mortgage
Sub-product: VA mortgage
Issue: Loan servicing, payments, escrow account

Complaint:
Predatory Loan Servicing : XXXX XXXX XXXX transferred loan servicing to PennyMac on XXXX 2015. The account went live XXXX XXXX 2015. PennyMac 's XXXX XXXX 2015 ( INCORRECT ) mortgage statement reflects a payment due of {$2100.00} which reflects 2 mortgage payments of {$1000.00} ... even though XXXX payment posted on this same statement. ( ESCROW? XXXX There is no explanation provided to date, nor mention of a suspense account anywhere. PennyMac 's mortgage statement conflicts with ALL recorded payment histories. XXXX XXXX XXXX provided a detailed transaction history that proves payments via ACH were consistent, on time and current. XXXX XXXX XXXX monthly mortgage statements and our personal bank account also support this. ( We were never late. ) Exhaustive measures to communicate with PennyMac via phone or writing has been consistently ignored. PennyMac provides a XXXX XXXX for communications, not a physical mailing address to send certified- return- receipt, etc. They are evasive and intentionally create barriers to block the home owner from receiving loan information AND in a timely manner. XXXX monthly mortgage payment was paid XXXX XXXX XXXX and posted on PennyMacs account website. When I called to verify account updates on XXXX/XXXX/15, I was told that there was not a past due balance, but XXXX payment was still due. How can that be??? The rep also stated the funds are kept in a suspense account, yet there is no mention of a suspense account anywhere on PennyMacs website, mailings or statements. They also relayed that the account is in good standing, so just ignore the statements until accounting gets caught up from the transfer. I ca n't ignore a statement that reflects a past due balance and demanding payment!!! If it is n't past due, then send a letter of explanation or a corrected statement, it 's not that hard. I am entitled legally to an explanation in a timely manner. They ca n't simply mail a statement that reflects a past due balance and request these funds without an explanation and documented proof. They ca n't take payments in full, post them and not credit them by keeping them in a suspense account! PennyMac refuses to transfer calls, denies requests or promises to hear from a loan specialist that never responds. If you call back, put on hold or disconnected, they still refuse to provide an answer. Even their mailings are intentionally late and evasive XXXX statement was post marked XXXX XXXX 2015. It took 5 business day to drop it in the mail. Another payment reminder due for XXXX XXXX 2015 was dated XXXX XXXX 2015 and arrived XXXX XXXX 2015. The letter was dated 8 days after due date and arrived 15 days later. ( 23 days total after the due date. ) PennyMac provides incorrect statements, refuses to correct them or provide an explaination. They insist you wait till the following month 's statement ... while your account has a past due balance on it!! I feel they PennyMac is setting a stage to either collect fees or take our home of 15 years by intentionally keeping us in the dark. Even when I called and attempted to pay the DISPUTED amount, they refused by telling me my routing number was incorrect or I already made XXXX 's. payment. I filed written complaints and requested a detailed, complete accounting and explanation. I requested PennyMac either correct the account or prove where funds are past due. I also requested an accounting of the suspense account and how payments are applied. I have not received anything requested. I was told to call customer service since an explanation in writing was too complicated, which is unacceptable by any measure. I have copies of every single thing, so this complaint is valid. There are hundreds of substantiated complaints with the BBB and web about PennyMAC over this same issue. Why is n't something being done? Media? Steal our home of 15 yrs? USA!

Company public response: Company believes it acted appropriately as authorized by contract or law
Company response to consumer: Closed with explanation