Consumer complaint received 2024-06-21
Product: Mortgage — FHA mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage — Delays in the application process
Company: PENNYMAC LOAN SERVICES, LLC. (KY)

Partial Lien Release Request I initiated this request and submitted all required documentson XXXX XXXX and was told that the process would take up to XXXX  days from the day that all documents were submitted to the company in full. At the time I was being assisted by XXXX XXXX XXXX. The last required document was submitted on XXXX XX/XX/XXXX. I asked XXXX XXXX XXXX was anything else needed on my part. I was told to accept an appraisal cost of {$800.00} and that was the final step.I again reached back out to XXXX XXXX and was informed by XXXX XX/XX/XXXX that she no longer worked in that section. As the conversations are recorded, I am sure there are several occasionsbefore XXXX when I inquired if anything was needed. I was told no and that it was going to be examined, on someone's desk, it would be escalated, complaints would be submitted on my behalf... etc, because of the amount of time it was taking. 
I received a correspondence from another person in XXXX saying that the legal descriptions were not legible and needed to be resubmitted. XXXX, XXXX, XXXX had gone by with no information even though I called. I called in last week to get an update and I don't remember who I spoke to at the time but they said the person they spoke to said in a roundaboutway that ittakes 120 days as if I had just started this process. She said she told him that the cutoff was coming up fast. I don't understand why that was said since I did my part. 
This leads me to believe that XXXX XXXX sat on my documentation or someone else did. XXXX is not my final submission point. XXXX was. I am being told again and again that it is awaiting approval and that things are backed up but I have no account for what happened in XXXX, XXXX, or XXXX. 

I am a retired veteran and those funds that I would receive from the buyer who has been very patient and understanding, would really come a long way. I have no idea why they claim to be backed up as long as they have when again I submitted all requested documentation in XXXX of XXXX. It is now XXXX of XXXX and beyond the XXXX mark that they laid out. The community is seeking to develop further. I submitted letters from the county and the seller 's agreement in XXXX along with other supporting documents. 

I also want to note that The company has long stints of silence and do not respond back in a timely manner. I don't mean by days, I mean by weeks and say they will get back with you or they will call and they just don't. 

I have sent requests for information and have been told awaiting approval on : XX/XX/XXXX XX/XX/XXXX XX/XX/XXXX XX/XX/XXXX which is when I was told 120 days from final submission of all required documents I waited the entire time as to not prolong the process. 
No updates during the remainder of XXXX, XXXX, or XXXX I had reached out in XXXX on the XXXX, XXXX requesting an update, was told the person who was working it was no longer there and someone else would be asigned. 
Got a response back from the newest personnel saying some documents weren't legible on XXXX XXXX. 
I have called every week since then and the answer is the same, its pending approval from the supervisor, every time. I call now just to keep a record. It is now XX/XX/XXXX and still no movement at all. 

I was told the process is a quick one most days and other than negligence, i would like someone to investigate why this company is doing this to its patrons, I didn't choose the company, my mortgage was sold to them so it makes it even worse.