Consumer complaint received 2019-08-24
Product: Mortgage — FHA mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage — 
Company: PENNYMAC LOAN SERVICES, LLC. (NY)

XXXX, XXXX, XXXX PHONED- and was repeatedly told Penny Mac does not do loan assumptions since I live in New York XXXX I will need to get a new mortgage from someone in New York XXXX Penny Mac is not licensed for New York . ( See attached letters ) XXXX XXXX Further investigation, found proof through HUD research, If Penny Mac is NOT licensed, PENNY MAC is REQUIRED to hire and pay for a 3rd party mortgage company to facilitate loan transfer. 
XXXX XXXX Placed complaint with HUD regarding the stalling and insidious behavior Penny Mac is looping me through. 
XX/XX/XXXX Received a call days after HUD intervened from XXXX at Penny Mac Loan Services. 
XXXX stated ; loan can be assumed, they would locate and take care of third-party lender and would pay for any points. 
XXXX XXXX Was notified by XXXX a lender in New Jersey would be reaching out to me and would process paper work. 
XXXX XXXX Months went by finally heard from a broker and he didnt take a shred of information from me and said I have to call XXXX and ask him how he wants me to handle this, since Penny Mac is paying for the points this should move quickly XXXX XXXX XXXX Never heard from lender again and or XXXX XX/XX/XXXX - Demanded from XXXX his boss ' information and was then connected with XXXX XXXX, Vice PresidenXXXX of Loan Assumptions!! 
XXXX / XX/XX/XXXX, XXXX XXXX provided me with detailed options. Explained fully how to move forward and agreed this has been drawn out, and sent over loan assumption forms that XXXX XXXX and myself would need to sign and have notarized. 
XX/XX/XXXX, communicated to XXXX XXXX my attorney was still waiting for MrXXXX XXXX attorney ( my ex ) to have forms signed and sent back XX/XX/XXXX, reached out to XXXX XXXX and asked if the assumption forms, she sent had an expiration date? She responded via email, " NO. THE FORMS NEVER EXPIRE. '' " As soon as you get them send them to me '' Great! 
XXXX XXXX Received signed/notarized forms from my attorney, Mr. XXXX had signed. 
XX/XX/XXXX Email XXXX XXXX and was informed she is no longer in the loan assumption department and that she had ccd XXXX on the email, and I would need to work with him. 
XXXX XXXX - AGAIN, per XXXX request, sent to him via- email ; legal agreement between ex and myself, notarized letter from XXXX XXXX requesting removal and not having financial obligation since XXXX, PENNY MACS notarized forms from attorneys. An article from NY XXXX XXXX and NY XXXX regarding XXXX socialite going through same legal issue as her ex-husband. 
XXXX XXXX Mr. XXXX phoned a few days later and stated, the bank will not do the assumption since XXXX XXXX and myself were not married. 
Never heard from XXXX, never returned any of my calls thereafter. 
XX/XX/XXXX Emailed XXXX, requesting New VP name and email address XX/XX/XXXX, XXXX, XXXX EMAIL EXCHNGE WITH XXXX XXXX o REVIEWING MY ASSUMPTION o REQUEST SENT OF EMAIL BETWEEN XXXX XXXX  AND MYSELF VERIFYING FORMS XXXX XXXX   SENT ARE NOT STALE DATE/ D O N O T E X P I R E. 
o SENT SIGNED NOTARIZED FORMS FROM BOTH XXXX XXXX AND MYSELF XX/XX/XXXX, XXXX, XXXX, XXXX o FINAL XX/XX/XXXX PHONE DISCUSSION o Ms. XXXX stated the forms sent from XXXX XXXX ( XX/XX/XXXX ) for both Mr. XXXX and I to sign and notarize were no longer valid and can not be used. 
o If I wanted to have the loan in my name I would essentially have to apply for a new loan. I would need to provide to her Utility bills validating I live in the house, My bank statement validating I was paying for my mortgage, I stated to her my mortgage payments are paid through your website and clearly if I were using a bank account that was not in my name, per your website I would be committing security fraud!!!! I USE MY XXXX XXXX  ACCOUNT THROUGH THE PENNY MAC WEBSITE PAYMENT PORTAL. And lastly which was headshaking, my homeowners insurance needed to be changed as my insurance says RENTERS INSURANCE I told her I would not change my insurance and that I pay a great deal of money to ensure the safety of my home and the people that BOARD in my home! Per HUD UNDERWRITTING DEPARTMENT, I HAVE THE RIGHT TO HAVE BOARDERS IN MY HOME, I HAVE RIGHTS! 

o I stated per my email with XXXX XXXX, my forms were valid and would not expire and I demand per my legal agreement with MrXXXX XXXX this must move forward. XXXX response again, the information is not valid XX/XX/XXXX XXXX EMAIL, a contradictive email stating to receive a SIMPLE ASSUMPTION I HAVE TO PROVIDE BANK STATEMENTS, UTILITIY BILLS, DEED TO MY HOME VALIDATING MR. XXXX IS NOT ON THE DEED TO MY HOUSE. 

I have included emails from all parties and all documents including ; legal agreement between XXXX XXXX and myself, utility bills, XXXX XXXX leger validating, I am paying my mortgage, Home Owners Insurance, Clippings from XXXX  XXXX and XXXX XXXX, and HUD GUIDELINES. Deed to home, validating I am only on the house. Mr. XXXX notarized letter validating he has not lived in or has had any financial obligation since XXXX, letter from Mr. XXXX attorney demanding per legal agreement to remove Mr. XXXX from mortgage. 

Per HUD underwriting department, it is to be taken into consideration that I have paid the mortgage for the past 10 years without lateness. 

Penny Mac is creating a great deal of legal issues for myself and MR. XXXX. MR. XXXX owes me thousands of dollars and will not pay until penny mac removes him from the mortgage.