Consumer complaint received 2023-06-09 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Trouble during payment process — 
Company: PENNYMAC LOAN SERVICES, LLC.
State: VA

Complaint narrative:
XXXX. I have tried with the company Pennymac to resolve this Issue - no response XXXX. I have tried with XXXX- they said company would response, but no response XXXX. I wrote to Pennymac CEO- No response Brief Description of the Case I am a Pennymac borrower with a fixed interest rate since XXXX, XXXX. I pay my mortgages on or before the due date all the time and never late in my payment. This year the company, Pennymac, had my Escrow Analysis in XXXX and found that I have Escrow shortage of {$2400.00} as shown in attachment XXXX. They gave me the option to pay all at a time or divide into monthly installments. I have paid all at once as shown in attachments 2 and 3. Therefor, my payment should remail as my XX/XX/XXXX XXXX. As attached, file name XX/XX/XXXX XXXX. 
However, the company sent me my XXXX invoice much higher than my XXXX statement as attached, file name XX/XX/XXXX XXXX. I called the Pennymac on XX/XX/XXXX at around XXXX XXXX EST. Spoke to XXXX after a long wait. She does not have any clue what I was trying to explain to her. Then I asked for a supervisor named XXXX. XXXX repeats at least 20 times that my insurance and tax has increased so it is higher than my normal payment. I tried my best to explain that I have already paid the Escrow shortage of {$2400.00} so my payment should remain the same. Then he said Escrow analysis was not correct. I said OK, send me a correct Escrow analysis statement. He told me that he would send it right at that moment. However, I waited all day for the document, but XXXX did not send anything as of today. 
XXXX also told me that, even if I pay all the shortfall, I still must pay higher installment. For the reason he could not answer, I believe that is wrong and improper business practice. 
The company is providing conflicting information about Escrow. I understand Escrow changes, and they sent me their Escrow analysis report. I have fully paid for the short fall. However, now they are saying that they made a mistake and will send me a new Escrow report. This is where MISTRUST develops. Pennymac is a big company, and it is difficult to believe that their Escrow analysis is inaccurate.

They could not explain what they had done with the {$2400.00} Escrow only I paid them last month. I have serious doubt that they are mishandling my Escrow fund and could not manage it. I can not trust them to manage my Escrow.

In any case, I wanted to keep my original payment amount by paying the additional shortfall. But Pennymac said I still must pay a higher amount. I asked what is the reason? I am paying them in advance and the principal and interest are fixed. So, why I must pay extra. There was no answer from Pennymac.

I have reasons to believe that my Escrow funs are not properly handled and I can no longer trust them to manage my Escrow.

I will pay their principal and interest and I will manage my escrow and pay taxes and insurance. 

Thank you XXXX XXXX

Company response to consumer: Closed with explanation