Consumer complaint received 2025-03-12 00:00:00
Product: Mortgage — Home equity loan or line of credit (HELOC)
Issue: Incorrect information on your report — Account information incorrect
Company: PENNYMAC LOAN SERVICES, LLC.
State: FL

Complaint narrative:
Because of hurricane Milton I accepted forbearance on my second mortgage equity line. They would not tell me up front how I would bring things current or what I would be able to do at the end of the forbearance. But they did tell me that there would be no late fees and they would not report anything negative to the credit bureau. They were very difficult to deal with during the forbearance time period And I asked them over and over how I would resolve and get caught up at the end of it but no one would tell me. I spoke with them and stayed accountable to them multiple times during that period of time and each time I kept asking them could they please tell me what I would do to bring things current at the end. One of the things a person told me from their company is that sometimes they can add the payments at the end of the loan and stretch the loan out or sometimes they will refinance the loan which can result in a higher or lower interest rate. Since my interest rate was already high of XXXX and interest rate seem to be going down I was not real concerned about that one. But they would not tell me what my options would be. They made me wait until close to the end of the forbearance before they gave me some options in fact they didn't get back with me about the options until after that. One person took a week to get back with me with what she said were the options but would never leave a message and called me one time and then refuse to take my phone call when I called her back because I missed the call. She called me a second day and did the same thing. I literally called back within minutes after her calling but she would not take my call and refuse to call back again that day. Finally after a week of this I asked for someone else because it was impossible to get a hold of this person who supposedly had my options to go over with me. This company is not very good in their communication as you're told one thing from one person and then another thing from another person. They don't seem to know what the right hand is doing. They are very unprofessional and there aren't even any prompts to correctly get you to the right department. You have to go through several people to get to the right department and tell each of them everything over and over. Then you're put on hold for long periods of time. They are very unprofessional and it is extremely stressful to deal with them. The options they gave me were not good ones and we're not helpful. It took me almost a dozen phone calls being transferred over and over talking to different people being put on hold over and over for long periods of time to even get to the point where I was able to pay the amount that accumulated during the forbearance. I was told when I made the payment following the forbearance which I did to keep my account from going delinquent or being late that it took care of that month 's payment and that the forbearance amount would be dealt with separately. There are so many more details that I could write here but it would take a very long time. I ended up working out a way to pull monies from my other accounts and paid the entire forbearance amount in full. I was told when I did that that I was okay I was not late there would be no late fees and nothing would be negatively reported to the credit bureau. My statement that arrived on XX/XX/XXXX reflected my account to be current and it reflected there were no late fees. So I thought everything was okay because that was the agreement of the forbearance. But then today on the XXXX of XXXX I received a notification that there was a derogatory report on my credit bureau. The credit bureau docked my score XXXX points for the credit report received from PennyMac stating that I was 60 days delinquent which is a lie. I called PennyMac again trying to resolve the situation but the lady did not seem to understand what I was saying and kept trying to tell me that I was still late. She says she sent my complaint to some other department and they would get back with me. I am very very upset because my credit score is always been high and being a XXXXXXXX XXXX XXXX I take pride in that and working hard and paying my debts and not ever being late. I keep all of my debts current and I keep my word. This is extremely hurtful and stressful and I feel taken advantage of by PennyMac and rather helpless to do anything about it. What was supposed to be something the company offered to be helpful ended up being a nightmare. This is extremely frustrating and I don't know what to do. If there's anything you can do to help me please do. Thank you so much. XXXX XXXX XXXX

Company response to consumer: Closed with explanation