Consumer complaint received 2016-08-08
Product: Mortgage — FHA mortgage
Issue: Loan servicing, payments, escrow account — 
Company: PENNYMAC LOAN SERVICES, LLC. (MI)

Pursuant to a closing on XXXX/XXXX/16, mortgage lender, PennyMac was paid in full via an electronic funds draft from XXXX XXXX on the holiday XX/XX/XXXX in the amount of {$75000.00}. ( Verified received and posted by PennyMac on XXXX/XXXX/16. ) This is the payoff amount they furnished as being good through XXXX/XXXX/16. Yet, on XX/XX/XXXX, after being paid in full, PennyMac withdrew {$810.00} from my checking account. ( Statement enclosed. ) That same day, I spoke with PennyMac 's CSR, XXXX, regarding their error. She said she saw the duplicate payment for XX/XX/XXXX. She told me that she submitted a request for my refund to be " expedited '' per my request due to their unexpected withdrawl costing me NSF fees in my checking account. While waiting for my refund, the next week, I received a notice from PennyMac also dated XX/XX/XXXX, advising me that " any remaining funds in your escrow account will be mailed to you within 20 days from the date your loan payoff. '' As of XX/XX/XXXX, I had never received my " expedited '' refund of the duplicate mortgage payment nor the proceeds from the escrow account. I called again. This time, I spoke with a CSR named XXXX. She told me that the actual amount of the mortgage & {$1500.00} escrow refund that I would be receiving was {$2000.00}. I learned that no refund of the duplicate XX/XX/XXXX payment had ever been sent, " expedited '' or otherwise. I was told that included in this refund was only {$540.00} of the {$810.00} overpayment. PennyMac was keeping {$270.00}. The reason I was given, was that FHA allegedly requires a full month of interest be paid on all loans even if the loan was paid off on XX/XX/XXXX or first few days of a month - no pro-rated interest. She said they would be paying FHA this amount in XX/XX/XXXX for the paid off loan. I have no way of knowing if this is true or not. I have never seen that disclosed in writing, such as the payoff amount was. Is this true? Should n't they have been required to disclose that to me? Anyway, she said the check was in the mail. I still had n't received my refund by XXXX/XXXX/16, so I called again. This time, I spoke to CSR, XXXX. He said, that the check had been mailed out on XXXX/XXXX/16. Neither of us could understand why it would be taking so long. He said, he was emailing his supervisor to put a stop payment on the missing check. He said, they would send a replacement check via XXXX & that he would call me back with the tracking number. By XX/XX/XXXX, I still had n't received a callback from XXXX or anyone with the tracking number. I called & reached CSR, XXXX ( sp? ) who contacted XXXX. Later on XX/XX/XXXX, XXXX called, sounding somewhat irritated. He said he had n't called me back because he had n't yet received a tracking number back to give me. This was only supposed to take a few days. No more than a week, I was told initially. He said, they did stop the first check on XX/XX/XXXX. That check has still never turned up in the mail. As of today, XXXX XXXX, I am still waiting for XXXX to call me back with that XXXX tracking number. Since nothing I have been told by anyone at this company for over the last month has been true, I am starting to think I have been deliberately lied to & they have no intention of refunding me my money! I am retired and I do not have money where they can just keep my money like this for as long as they need, returning it if/or when they decide to. This whole thing has been wrong. Surely, there are government regulations governing timely disbursement of monies owed consumers by mortgage companies. I really need your agencies ' assistance in getting my refund. Thank You.