Consumer complaint received 2024-02-26 00:00:00
Product: Credit reporting or other personal consumer reports — Other personal consumer report
Issue: Improper use of your report — Reporting company used your report improperly
Company: PENNYMAC LOAN SERVICES, LLC.
State: GA

Complaint narrative:
I have had my loan for more than 15 years. I never knowingly received solicitation mail from a PennyMac partner. If not for the legal wording in the letter I received, it would be fraudulent. The Issues I have with the letter : 1 ) Letter is labeled private and confidential. 
" Read Carefully, Secured by PennyMac LN SVCS LLC The letter insinuates that it is from PennyMac and that I have a warranty service agreement that is about to expire. That is a lie. Since PennyMac is the holder of my loan, they know for a fact that a home warranty is not attached to my mortgage. 

2 ) Letter references a property code which gives the impression that this letter is cross referenced to my mortgage. No where in the letter does it reference the name of a 3rd party company, so one would conclude this letter is from PennyMac. 

3 ) Upon contacting the contact number on the letter, they stated that this company is not PennyMac and that PennyMac provides a home warranty as a courtesy and as part of my loan. I stated that I was not aware of this and I believed this to not be true. 

4 ) After the call I contacted PennyMac, agent stated they had nothing to do with the letter and that PennyMac does not participate in such misleading solicitations. Agent showed no concern that a company was using PennyMac 's name and brand on the letter head, which is why I called. Asked to speak to a supervisor ( XXXX ), read the letter to her and provided the contact number, she then responded that this letter is from a PennyMac partner and that I could opt out of having my information released for solicitation to Pennymac partners. Called XX/XX/2023, in justification of this letter, agent stated that a letter was sent to me in XXXXXXXX XXXX stating that I must login to opt out of PennyMac soliciting my information. I never received such a letter, and why on a 15+ year loan would they send me such a letter, and why would they not automatically select yes if I did not call to approve. 

The issue I have with this letter, is that it is sent referencing PennyMac in the letter head. If that were not the case I would have tossed the letter in the mail. The letter eludes that I have service on my home, which I do not. If the company had access to my loan they would know this. Upon contacting the company they state that existing coverage was included as a courtesy to my existing loan. The letter uses legal language in an attempt to to avoid liability " Secured by '', " may be '', " potential lapse of coverage '', at the bottom they state they are not affiliated with your current mortgage company. Which the letter begs the differ.

In my opinion this letter is written in such a may to be misleading and is fraudulent. My wife assumed this was from our mortgage company and called the company. The fact that the company is using PennyMac in the letter head and that PennyMac confirmed that this is a partner, PennyMac is responsible. With all the scams going on today I would think that CFPB would be put a stop to this to prevent consumers from being taken advantage of. I am disappointed that such a well know company " PennyMac '' would approve of such activity and only justify it by saying " I can opt out of solicitation of my personal information. I will moving to a different mortgage company on my 1st opportunity.

Company response to consumer: Closed with explanation