Consumer complaint received 2026-04-30 00:00:00
Product: Mortgage — FHA mortgage
Issue: Closing on a mortgage — Changes in loan terms during or after closing
Company: PENNYMAC LOAN SERVICES, LLC.
State: NJ

Complaint narrative:
PennyMac has failed to adequately address or resolve my concerns. Specifically, the company miscalculated both my escrow account and property taxes, which has resulted in significant financial hardship. As a direct consequence of these errors, I am now required to pay an additional {$500.00} per month above the agreed-upon mortgage payment established at the time of my refinance. Rather than correcting this issue, PennyMac issued a payment to cover the escrow shortage caused by their miscalculation and has asserted that this action satisfies their obligation. A customer service representative, identified as XXXX, contacted me solely to reiterate this position and advised that the company is exonerated from any further responsibility. He further stated that his role was limited to the scope of his department and that he has no involvement with underwriting matters. As a result, this communication did not provide any meaningful assistance and served only to reiterate a position without offering a resolution. Meanwhile, the department capable of addressing and correcting these issues has failed to contact me, and no individual or department has taken responsibility for this matter. Furthermore, PennyMac has reported negative information to the credit bureaus, which has caused a substantial decrease in my credit scoreapproximately XXXX pointsbringing it to below XXXX. This adverse reporting is directly tied to the financial strain created by their errors. Additionally, I have yet to receive requested transcripts or recordings of telephone conversations related to the original underwriting process. I have reason to believe that the underwriter involved may have falsified or misrepresented key information in order to secure my agreement and signature. I was presented with a mortgage payment of {$1500.00} at the time of refinancing, which I relied upon in good faith when entering into the agreement. As it stands, I am being placed in a position where I will remain perpetually one month behind, continue to suffer negative credit reporting, and be forced to pay an additional {$500.00} per month that I never agreed to. Despite PennyMacs acknowledgment of their miscalculationdiscovered approximately one year after the refinanceno meaningful action has been taken by their underwriting department to correct the terms of my loan, reduce my interest rate, or otherwise remedy the situation. Based on the totality of these circumstances, I am concerned that PennyMacs actionsor failure to take corrective actionare effectively placing me on a path toward foreclosure. It appears that I am being pressured into an unsustainable financial position, which raises serious concerns regarding the fairness and legality of their conduct. I intend to pursue all available legal remedies, including the filing of a lawsuit, to address these issues. In addition to the financial harm, this situation has caused significant emotional distress, including strain within my marriage and ongoing uncertainty regarding the security of my home. I am deeply concerned about the stability and well-being of my family as a result of these circumstances. This matter remains unresolved, and PennyMac has not taken appropriate steps to rectify the financial, credit, and personal harm caused by their actions.

Company response to consumer: Closed with explanation