Consumer complaint received 2026-03-06 00:00:00
Product: Mortgage — VA mortgage
Issue: Incorrect information on your report — Account information incorrect
Company: PENNYMAC LOAN SERVICES, LLC.
State: MD

Complaint narrative:
Impact of Mortgage Payment History on Loan Approval Current Home Sale and New Loan Application I am in the process of selling my home and need to secure approval for a new loan. However, I am facing challenges due to the status of my mortgage payment history reflected on my credit report. Mortgage Payment Delinquencies Reported My credit report indicates that my mortgage with PennyMac was late on several occasions throughout last year. Specifically, the report shows the following delinquencies : XXXX Days Late : XX/XX/2025, XX/XX/2025, XX/XX/2025, XX/XX/2025, XX/XX/2025, XX/XX/2025, XX/XX/2025 XXXX Days Late : XX/XX/2025 Communication with PennyMac Regarding Late Payments During this period, I communicated with several representatives at PennyMac. Each person I spoke to informed me that I would be charged a late fee for these delayed payments. They explained that I had the option to pay the late fee monthly, over time, or, if I preferred, I could defer payment until the end of my mortgage term. However, at no point did anyone inform me that these late payments would be reported to the credit bureaus or that this would significantly impact my ability to refinance or obtain approval for a new home loan. Request for Credit Report Corrections and Response from PennyMac After discovering the negative marks on my credit report due to late mortgage payments, I contacted PennyMac and requested that they remove these entries. Their response was clear : they would not make any goodwill or courtesy corrections to my credit report. PennyMac explained that, as required by the Fair Credit Reporting Act, they must report factual and accurate information to the national credit agencies, including XXXX XXXX, XXXX, and XXXX. Despite this, I believe that after speaking with several representatives, someone should have informed me that my late payments were being reported to the credit bureaus. This would have given me the opportunity to take steps to restore my credit standing before it became a significant obstacle in obtaining approval for a new loan. Concerns Regarding Notification of Credit Reporting I believe it was reasonable to expect that PennyMac should have informed me about the reporting of my late payments to the credit bureaus. In my view, it ought to be standard policy for any mortgage company to notify their customers when negative information will be shared with credit agencies. Such transparency would allow customers the opportunity to address their credit standing before it affects their ability to refinance or obtain new loans. I respectfully ask PennyMac to remove these negative marks from my credit report and to consider implementing procedures that ensure customers are informed about credit reporting. Additionally, I encourage PennyMac to discuss this issue with their other customers, so everyone is aware of how their payment history may impact their credit profile

Company response to consumer: Closed with explanation