Consumer complaint received 2016-04-12
Product: Mortgage — Other mortgage
Issue: Loan servicing, payments, escrow account — 
Company: PENNYMAC LOAN SERVICES, LLC. (CA)

I am a XXXX year old widow & have had serious medical issues from the onset of my mortgage.My immediate issue is that I have just been denied a loan modification with PennyMac Loan Services , LLC ( PM ) which I have been trying to acquire for past year.I had previously applied with XXXX over years since XXXX & was repeatedly denied.In XXXX XXXX I was told by XXXX I was in underwriting & it looked good.I was very relieved the nightmare seemed to be coming to an end.Having no update XXXX XXXX, I was shocked to get a letter from XXXX XXXX stating they had sold the servicing rights to XXXX & I would need to start all over again XXXX XXXX with PM.I submitted loan mod application XXXX XXXX to PM & complied with often repetitive documentation request, & simultaneous foreclosure sales in violation of Reg.X & the CHBOR, while there still remained numerous undisclosed facts & unresolved issues with PM 's financial reporting.I repeatedly asked for clarification of the wildly inconsistent, extremely confusing financial information provided by PM via monthly statements & annual escrow account disclosure.On XXXX I received a loan mod offer which was dated XXXX & not mailed until XXXX mention this as PM dates important letters & does n't mail right away, which gives less time for review, yet demands that reply be back by certain XXXX receipt of offer I requested clarification of their calculations.My SPOC said the information I was requesting could n't be answered until completed trial payments.All my trial payments on XXXX & I expected I 'd get answers.PM sent XXXX PM permanent offer via XXXX received XXXX requiring return signed XXXX.Property address was wrong & no answers to questions about calculations.I requested an extension of time to review with my attorney on XXXX & was given till XXXX was in XXXX & unable to review my docs, he asked me to ask for more time.On XXXX asked for more time & XXXX my new permanent payment in good XXXX took it & cleared my bank XXXX XXXX I wrote via email & certified to request confirmation of request for an extension to XXXX XXXX received on XXXX PM wrote they 'd received my inquiry & were reviewing it, no mention of not extending me time to sign.On XXXX PM sent letter stating they were still reviewing & needed up to 15 days & no mention of not granting extension this received on XXXX on XXXX letter dated XXXX PM stating I was DENIED the loan mod reason being Offer was Not Accepted by Borrower, which is simply NOT TRUE! I repeatedly told the SPOC team when asking questions & making payments that I needed a better understanding of their calculation.I am shocked that they just denied me without answering my questions and not informing me they had not granted me an extension to sign.I will gladly send CFPB the spreadsheets & questions for review.I feel it is very reasonable to have these questions answered before expecting me to sign a loan mod for 40 years made off of these values & calculations that are wildly inaccurate & should be a concern of the CFPB too. Additional history, in XXXX after the death of my husband I called a Loan Officer ( LO ) at XXXX who was our neighbor & friend of my husband.My husband felt the LO would be able to assist me after his passing.This LO was very aware of my many medical problems I was recovering from 4 years of XXXX XXXX medical problems which included removal of my right XXXX XXXX.I had also been my husbands XXXX & was dealing with XXXX from all.Even knowing I was heavily medicated this LO preceded to make XXXX loans totaling over XXXX dollars to me.XXXX of the loans were negative am loans & the other XXXX were equity loans, essentially stripping me of my life savings.All of which I did n't understand in the state of mind I was in.