Consumer complaint received 2015-07-19 00:00:00
Product: Mortgage — FHA mortgage
Issue: Credit decision / Underwriting — 
Company: PENNYMAC LOAN SERVICES, LLC.
State: NV

Complaint narrative:
I have a mortgage with Penny Mac, I saw the Obama streamline program was being offered and deciced to use this opportunity. I spoke with a XXXX XXXX. The process was going when I realized I was not going to be able to make XXXX payment on time. I decided to cancel my refi. As I was a little behind and was trying to get caught up before trying again. XXXX was on vacation when I cancelled and another Rep, said they would pass along the news. When XXXX returned he called and I explained the situation.He then added XXXX what if I could get it so you would not have to pay XXXX payment, get the Refi and skip XXXX? I was elated. I said sure this would be great. Around XX/XX/XXXX, XX/XX/XXXX XXXX I sent XXXX an email, up to this point we were communicating by phone in which he told me do NOT make XXXX payment. Again on the XXXX I sent email and asked what if anything would be needed for XXXX in the form of payment. I n which in an email I have he says? I will call you tomorrow, in bold letters he wrote? PLEASE DO NOT MAKE A PAYMENT UNTIL I CALL YOU. so I can guide you to make sure you do not have to come in with entire payment. He then called and said to please deposit {$700.00} into my escrow acct. and this would be sufficient to XXXX payment instead of the {$1000.00}. in which I did. I the was expecting to close when the last 3 days a problem showed for Title that XXXX and XXXX were still on Title and we could n't close. These were the original home builder and mortgage company. Needless to say ... the Title did n't get cleared in time and? on XXXX XXXX, I received a call that? ready? I needed to make XXXX mortgage payment before the close of business or I would be Considered late. Now Im at work. XXXX hours before close of business. When I say I do n't get paid until tomorrow XXXX XXXX. They say? sorry but you will be late. I said XXXX told me to not make payment. In which it did n't seem to matter it was now my problem. I spoke with his supervisor XXXX XXXX, who said? he could fix the late payment if I was to be late meaning Payment on XXXX XXXX XXXX for XXXX payment. But it would still show late in FHA and I would not be able to Refi again for 90 days. In a panick already in financial trouble I have to get a payday loan. make payment on time. And call XXXX in which he says? Great Ill call you back. Friday, nothing. WEEKEND goes by, Monday nothing leaving messages for XXXX wont speak with XXXX he did me so wrong I feel. XXXX wont call me back, Tuesday nothing, Wednesday I have to call XXXX. I say XXXX, whats up with this? no one telling me a thing. whats up with my REFI? Ready? Nothing ... the interest rate expired you lost loan.what???? Amatuer hour and unethical between XXXX gentlemen what? trying to pocket {$700.00} could n't call me back or? let me know about my Refi being terminated. now, im further behind and in worse shape financially. so, on XXXX XXXX I start again with XXXX XXXX took out another loan to cover the Penny Mac mess, and try for a cash out of XXXX to get me straight. explain the urgency and situation. I get all docs. in and nothing else is needed. I say please hurry I cant make XXXX payment im in a hole due to Penny Mac the refi is possed to close by XXXX XXXX. I tell all my creditors I will be ok by the time I close on the XXXX and guess what after sitiing on my loan for 2 weeks not closing ... The underwriter now wants to see XXXX payment is made. hahaha. They knew of my situation XXXX institution put me in. Was up front about everything. said they understood could help I begged borrowed and stole to stay alive and??? for 2 weeks im waiting to close. they purposely wanted me to fail. WOW. So now, the fast free Obama streamline for lower PMI, I went from a week behind to more debt and XXXX months behind and drowning fast. Still cant make XXXX payment, and behind in utilities and payday loans. XXXX

Company public response: Company believes it acted appropriately as authorized by contract or law
Company response to consumer: Closed with explanation