Consumer complaint received 2023-06-21 00:00:00
Product: Mortgage — Other type of mortgage
Issue: Closing on a mortgage — 
Company: PENNYMAC LOAN SERVICES, LLC.
State: FL

Complaint narrative:
XXXX. On XX/XX/XXXX, I applied for a Refinance Cash-Out Loan with XXXX XXXX XXXX XXXX XXXX XXXX ). The process went smoothly until on or about mid XXXX when we were getting ready to close. XXXX XXXX and XXXX XXXX of XXXX Mortgage Department informed me that there was a problem with my Title, but that they ( XXXX Mortgage ) were working to get it fixed. 

XXXX. I was asked by XXXX XXXX XXXX XXXX who my Title Company was and I told her XXXX XXXX. I then reached out to XXXX XXXX to inquire whether they knew what was going on with my Title and they told me they were working on it and to not worry. 

XXXX. As days turned into weeks, XXXX routinely, when I would require an update, informed me that XXXX XXXX was working the issue and problem. I began to get worried and upset thinking that XXXX XXXX was the problem because all that they would tell me was that they were working on it. I then considered consulting with an Attorney as I thought that adverse " things '' were or had been done with my Title. 

XXXX. On XX/XX/XXXX, I gave a mandate and order to XXXX XXXX to explain exactly what was going on, but only after I reached out to XXXX XXXX XXXX XXXX who explained to me what might be going on and what the problem could be. They also told me that they would reach out to XXXX XXXX ( XXXX XXXX ). 

XXXX. Today, XX/XX/XXXX XXXX XXXX of XXXX XXXX informed me of this : " XXXX XXXX, I am CCing XXXX  XXXX with Pennymac in this email. As I explained the process to you on Friday, Nothing is wrong with your title. The former lender for XXXX XXXX released and satisfied the Mortgage when you purchased your home in XXXX XXXX  XXXX, but did not release the liens on the XXXX XXXX Titles. I have been in contact with them via email. I took all the normal paperwork ( along with satisfactions as proof of payoff ) to the DMV to have the XXXX XXXX titles released right after closing. However, the DMV cant release the liens due to them being Electronic Titles with Electronic liens. That can only be done in-house by the Lender. 

XXXX XXXX sold to Pennymac  which gave them permission to satisfy the Mortgage and release the XXXX XXXX Titles. I emailed all the same paperwork to them that I took to the DMV. Pennymac  is telling me that the case is in the litigation department and not sure how long it will take to resolve the issue. I assure you that we are working on this issue. We want to make sure our customers are taken care of. We are at their mercy. As soon as XXXX XXXX informs me of any progress I will call or email you ASAP. I ran a DMV webcheck update today and the liens are still not released. Still showing XXXX XXXX as lien holder of record. 
Thank you, XXXX XXXX '' So ... Pennymac Mortgage is the culprit. THEY have been holding my Title in their litigation department thus holding up my loan process, being slow and " snail paced '' in clearing and executing properly my Title, and preventing transfer of my title to XXXX so myself and XXXX can move forward to closing.

Company response to consumer: Closed with explanation