Consumer complaint received 2022-01-18 00:00:00
Product: Mortgage — Other type of mortgage
Issue: Closing on a mortgage — 
Company: PENNYMAC LOAN SERVICES, LLC.
State: FL

Complaint narrative:
This is the review of the last 4 months of a refinance that should have taken 30-45 days. The XXXX of this rollercoaster ride was terrible. I hope you take my honest and candid review into consideration of how your customers feel. 

I am happy that this review was requested. I have owned 2 homes ( both financed ) and this is my first refinance. This has been by far the worst experience I have ever encountered when dealing with a lender. 

I was contacted by XXXX XXXX XXXX XXXX XXXX ( NMLS XXXX ) and I hate to be punny but he was a true XXXX XXXX XXXX XXXX XXXX XXXX to work with. I truly hope after I write this review, PennyMac does an Audit of his client interactions. 

When we first spoke, I told XXXX I wanted a cash out Refinance to pay off a XXXX XXXX loan and to put it into the refinance. I also advised I did not want to pay closing costs ( Roll them into the loan ). He understood my requirements and we proceeded forward. 

Hiccup # 1. XXXX did not properly originate my loan and did a cash out refi that did not pay the loan off directly. He did the quick option to have me be the payee of the funds and I would oversee paying the solar loan off separately. When the Title company conducted a LIEN search, my loan was flagged and then delayed to close until XXXX updated the documents to the correct Format. Due to this being his delay, I would assume some sort of communication. He did not keep me updated and I waited two weeks for an update. I had to call repeatedly for him to call me back. Due to this the loan became delayed. 

Hiccup # 2. A closing disclosure was released and it was {$100.00} more for my MIP then I was comfortable with and I told him I did not want to move forward. XXXX reached out to me and told me he could request a manager override to keep the MIP closer to what I wanted. We agreed, and I waited for a new CD. The new CD came and it showed an even higher MIP AND NOW they wanted cash out of pocket for closing costs. I told VANE I did not want to waste his or my time any more and I would not be moving forward. At this time we are now delayed a second time. XXXX reached out again and told me that he could drop the MIP and he would get manager approval to pay the closing costs If there were any. I got a third CD and again there was {$1500.00} closing cost fee. TOTAL SWITCH AND BAIT. Please read read read your CD because XXXX will say one thing on the phone then another on the updated paperwork. Thankfully because I didnt trust his word or integrity, I then requested any promises/ what he could do to be written out on an email. When there was closing costs at the end, I referred to the email from XXXX and everything was covered finally. 

Hiccup # 3 My loan was delayed 3 times and an extension was required due to the issues that kept arising. I believe this could have been closed a lot sooner if XXXX called back promptly. It was sometimes days ( 3-5 ) before VANE would reach back out even though we were just delayed or if the XXXX was needing correcting. After such hassle, I went full XXXX and requested to speak to XXXX XXXX XXXX. I Requested a total of 3 times for him to reach out. I have yet been contacted by XXXX. I am shocked by the total lack of customer service/support during such a large transaction and after so many delays/issues. 

Hiccup # 4 We finally got to closing day and shocker. 8 pages in my closing were inaccurate with wrong numbers and would change the loan drastically. If I wasnt vigilant with how terrible the experience was, I could have easily missed it. It is so scary to think this large of a company had so many LARGE mistakes that a lamest non-financial normal person was able to identify immediately but NO ONE PRIOR saw them. 

My word of advice to PennyMac, please look into XXXX XXXX cases I believe he does more bad then good. And is a thorn for your company. I have been a prompt paying customer for years and his antics are not what I expected. Thankfully other experiences outweighed his IDIOCRACY. For potential customers, please dont work with XXXX as he was a major XXXX XXXX XXXX XXXX XXXX XXXX 

Lastly, I want to leave my review on a positive note, the ONLY reason I continued to do service with PennyMac and didnt jump ship to a different lender is because of XXXX XXXX XXXX She was prompt, she was on top of things, and she got things done. She made sure she was efficient and should be highlighted as an exemplary employee. She single handedly saved the closing of this loan and I appreciate her working on it.

Company response to consumer: Closed with explanation