Consumer complaint received 2020-08-25
Product: Mortgage — Conventional home mortgage
Issue: Trouble during payment process — 
Company: PENNYMAC LOAN SERVICES, LLC. (MA)

I am following up on a complaint that I filed previously. My trouble now, once again, is a lack of response from my loan service company PennyMac. The situation is extremely frustrating and I can never get a response from the people who are supposed to be working with me, so I am back here with the CFPB to try to make sure that I don't get gouged by errors that I did not cause. 

My problem began when I received my Escrow Analysis form stating  that due to a shortage in my escrow account, I would need to pay an additional {$1100.00} per month for the next year, or just under $ 14k to rectify the issue. Being that I have not even lived in my home for a year yet, I was concerned that there was no reasonable way that we could already be that far in the hole with our escrow, knowing that we have made our monthly payments on time. I had to do some research into the issue. It is a complicated issue with our taxes but I got a lot of information from the city tax assessor about how the problem began and possible steps to rectify it. However, to simplify the problem, we should be charged roughly {$1500.00} per quarter in our real estate taxes, we have been assessed and re-assessed by the city and our annual tax bill is in the neighborhood of {$6000.00}. However, due to complications in the nature of our home and the sale, we were mistakenly charged {$3000.00} in our Q3 and Q4 payments. As I have confirmed with the city and explained to PennyMac, we should never have been charged {$3000.00} per quarter, any time that we were charged that amount was a mistake. This mistake drained our escrow account and caused the shortage that generated PennyMac 's Escrow Analysis letter that got me digging around. 

To further explain the tax problem, you need to understand something. My home is a new build, an attached Single Family Home with an A side and a B side separated by firewall. I am the first owner of this property as it is. Before the construction of these two properties, this was one much smaller Single Family Home. For tax record purposes, the A and B sides of these two properties did not exist until we bought the property, it had all been one SFH worth about $ XXXX and now it is 2 SFHs worth about $ XXXX apiece, or $ XXXX total. Somewhere in the breakdown of the old property, the creation of two new properties, and the transfer of ownership of these properties, the city and PennyMac made a mistake. I need to have this mistake rectified ASAP. I have been trying to get a response from PennyMac since XX/XX/XXXX, knowing that my monthly mortgage payments would be increasing by {$1100.00} beginning on XX/XX/XXXX. Every time I contact them, I explain the urgency of the situation, and yet I can not get a response. 

I had previously submitted a CFPB complaint and that was the first time I got a response from PennyMac. However, they left me a voicemail after XXXX last Friday. I returned the call that night and got voicemail. I again called Monday and got voicemail, and now it is Tuesday and I left a third voicemail. I can not get a response from this company. I am using the direct line and extension provided to me for an urgent problem, yet they refuse to respond to me. My payments are due to increase next week. PennyMac squandered a full month that I was stressing out about this problem, and they don't even have the decency to tell me what they intend to do about the issue.