Consumer complaint received 2020-04-20
Product: Mortgage — FHA mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage — 
Company: PENNYMAC LOAN SERVICES, LLC. (MD)

I was informed by PennyMac Loan Services , LLC, about a great opportunity to refinance my current loan in mid-late XXXX when I originally called about another matter at which point in time I was informed of the process, agreed and started. At the beginning of the process I was informed that my cash to close would amount to be similar to my current mortgage and that was understood. After weeks of submitting documentation on request I received an automated email saying I had been approved on XXXX. XXXX. The following day I called to determine the final cash to close amount and if I needed to pay the month of XXXX 's mortgage at which time I was told that it would be about XXXX dollars to my surprise, and that I wouldn't need to pay XXXX 's mortgage. I agreed and went to set up an appointment with the notary to come to my house ( new procedure due to COVID-19 ). Later that day I received an email from a loan processor that stated I was in the final stages of my approval which made no sense due to the aforementioned approval email and scheduling of notary. I emailed back and inquired about prior approval, the response from the same loan processor was an email stating that I was now approved and a completely different cash to close amount that was 1k+. The following day I spoke with the loan processor that provided the disclosure with the 1k+ amount and requested to have my recorded conversation pulled and analyzed for accuracy in regards to the XXXX dollar amount I was promised. The next business day I followed up with another phone call in which I spoke to a manager who I informed of the dates/times of phone calls and the misleading information in regards to my closing costs. This manager reviewed my complaint and info and called me back with a solution to take care of all closing costs and set up an official notary appointment to occur on the date I am writing this email XX/XX/XXXX. I was satisfied with this solution and looked forward to closing, I was informed the notary would call to confirm my appointment a day prior ( XX/XX/XXXX ) and assured I wouldn't need any cash to close. On XX/XX/XXXX I was called by the original loan processor with another cash to close amount of XXXX dollars. I informed her of the conversation I had with her management and the discussion of no cash to close and instructed her to please contact the manager I spoke with to confirm and to call me with the final amount immediately as I had been told so many various amounts and have become frustrated. I received no call back, no documentation showing cash to close amount, nothing. I followed up with an email to the processor and the group email for refinancing. The following day XX/XX/XXXX ( sunday ) I attempted to call with no success due to them being closed. The notary called me at a completely unprofessional hour of XXXX leaving a message that did not state her position title asking for a call back to confirm appointment.On today I received a phone call stating that she had received my email at which time I immediately asked to speak with management, she informed me she would have them call me ASAP. Hours later on today XX/XX/XXXX a manager called me stating that I would have no closing costs and that thenotary had been contacted an my appointment would be held on schedule at XXXX. I asked for my closing disclosure in writing and he informed he would provide it to reflect my no cash to close and other discussed information, I stated my frustrations and agreed. Five minuets later the manager calls me back and states that the notary would be bringing a disclosure document that he did not want me to sign that reflected an amount owed. He stated I would be emailed a form that I would then need to print, scan and email back to him. I further complained that this seemed very unprofessional and was causing me more work for something they messed up and at the time of composing this I am still waiting on proper documentation. This process has caused me a great deal of stress in the mist of a very stressful world event, their mismanagement of my application has caused me to mismanage funds and miss time sensitive events.