Consumer complaint received 2022-07-08
Product: Mortgage — Conventional home mortgage
Issue: Closing on a mortgage — 
Company: PENNYMAC LOAN SERVICES, LLC. (MN)

On XX/XX/2022, I sent in a {$1000.00} wire from my bank to Pennymac Loan Services to payoff my outstanding mortgage balance. All information included in the wire was per Pennymac 's payoff statement. I took a screenshot of my wire information and reconciled it to the payoff statement before submitting the wire request to my bank. A week later on XX/XX/2022, I checked my online Pennymac mortgage account and the balance was still the same so I called Pennymac. A Pennymac representative stated that the wire had not been received yet. To resolve this, I sent XXXX emails to Pennymac through their online portal and I attached an email confirmation from my bank of the wire transfer and also attached a screenshot of the wire information when I submitted it to my bank. Pennymac only allows one attachment per email so I had to send two separate emails. I got an email response from Pennymac on XX/XX/2022 stating that they had forwarded the information to their research team. I waited a few days later and called Pennymac and was informed by a different representative that I had input the wrong routing number plus the receiving bank account information only contained the last XXXX digits so Pennymac was unable to verify the wire information. I pointed out that the routing information was in fact correct and that the screenshot contained the full receiving bank 's account number. The Pennymac representative apologized and stated that they were elevating the issue to their supervisor and I would get a call within 2 days from the supervisor. I never received the call, so after 2 days, I called another Pennymac representative and again was told the same thing about the routing information and only the last XXXX digits of the receiving bank account displaying. Again, I pointed out that the documents I had provided do in fact show the correct routing number and also the full receiving bank account number. The Pennymac representative again stated they would elevate the issue to a supervisor. On XX/XX/2022, I contacted my bank through email requesting the status of the XX/XX/2022 wire. My bank responded on XX/XX/2022 stating that the wire was confirmed and did go through to Pennymac.My bank also provided the wire ID # which could be used to trace the wire. I sent this information to Pennymac on XX/XX/2022 and asked Pennymac to look for my wire. I called a Pennymac representative on XX/XX/2022 to see whether my correspondence had been received. I was told the same thing about the routing number and the last XXXX digits of the receiving bank account. Also, this time the Pennymac representative stated that the wire ID # provided by my bank wasn't enough to trace or confirm the wire and they were closing the issue. For the third time, I had to explain to another Pennymac representative that in fact the wire information was correct. Again the Pennymac representative stated that she would elevate this issue to a supervisor. It seems that Pennymac does not do its due diligence when trying to confirm my XX/XX/2022 payoff wire. Pennymac is quick to dismiss my evidence and when shown they are wrong, does nothing to correct or resolve the issue. It gets frustrating when I have to explain myself to XXXX different representatives and nothing gets fixed. All I want is for my loan to be paid off. This has been an extremely stressful and frustrating experience.