Pennymac

4.6 of 5starsRead Reviews
Recommended 91%

4.6 of 5starsRead Reviews
Recommended 91%

Lender Summary

Pennymac is a leading national mortgage lender and servicer. Our goal is to provide you with innovative mortgage solutions to make it easier for you to purchase, refinance, or simply remain in your home.

 
Since our founding in 2008 by a team of mortgage industry veterans, we've sought to restore Americans' trust in home ownership by improving the quality and consistency of the mortgage experience. We're a full-service lender with a breadth of loan options for everyone from first-time home buyers to those seeking jumbo, FHA, or VA loans.
 

Pennymac has also been a leading provider of help to underwater homeowners. We're a major participant in the Home Affordable Refinance Program (HARP), the government program created in 2009 to assist underwater homeowners in refinancing their mortgages.

What they're saying

604 Reviews Ratings & Reviews

(4.6 of 5) 604 Reviews

Interest Rates

Excellent
Fees & Closing Costs

Excellent
Responsiveness

Excellent
Customer Service

Excellent

Review Breakdown

5 Star

(511)
4 Star

(39)
3 Star

(6)
2 Star

(11)
1 Star

(37)

Show:
Reviews For:
By:

(1 of 5)

Stay away, shady practices. They change Mortgage points fees after locking rate.

During initial discussions on the loan quote they were competitive on the APR and fees and very responsive. Even thought they would not provide a Closing disclosure (CD) before locking the rate, I then confirmed rate and fees before and right after locking the rate and it was all good. Then after 5 days, when I receive the CD they added more than $3400 on points fees AFTER LOCKING THE RATE. On top of that, during the process of approval for closing they were very unresponsive to myself, Insurance and Title.
To my surprise they closed on time and were able to send all the documents the night before closing.
I highly encourage anyone buying a house to look elsewhere. they promised to be $250 cheaper and ended up costing more than $3400 upfront on top of the change in rate for the life of the loan.

Closed with Lender:

Yes
Loan Type:

Home Purchase
Review Type:

Lender Review

(5 of 5)

Recommended

Smooth processing at every step

The overall process was smooth and working with the experienced team at PennyMac was great. Definitely recommended.

Closed with Lender:

Yes
Loan Type:

Home Purchase
Review Type:

Lender Review

(4 of 5)

Recommended

Awesome Sauce

So far so good. I am still unsure about u he loan thing. But my credit score is 358. I really thinking bout that full bottle of dropz
. I am hoping I no disappointments. Would recommend, what's the catch?

Closed with Lender:

Yes
Loan Type:

Home Purchase
Review Type:

Lender Review

(5 of 5)

Recommended

Easiest experience ever!

Best experience I’ve had with a mortgage from the application to closing. John Mardison was the best in regards to the application process and Eric Haywood was very prompt to reply to emails and phone calls. Best experience I’ve had so far.

Closed with Lender:

Yes
Loan Type:

Home Purchase
Review Type:

Lender Review

(1 of 5)

Horrible, Unorganized, and Annoying

The processing of our was absolutely horrible. The same documents were requested multiple times. We had to explain things multiple times. The closing process was horrible. Your right hand doesn't talk to the left hand. We uploaded documents then would be requested for the same documents the next day. Your staff didn't look to see what was loaded, either Joseph or Julian would call the next day and say "we need this or that" and they didn't look to see we had already uploaded them. Completely awful and annoying process!! I will NEVER refinance with Pennymac ever again. The signing process was awful as well. Our services were so awful we given $1,000 back from Pennymac and $450 from the Title Company (notary issues). In the end, we got our refinance done, but Holy crap!! Never Pennymac never ever again!

Closed with Lender:

Yes
Loan Type:

Refinance
Review Type:

Lender Review

(1 of 5)

Horrible! Don’t do it with these clowns.

Kept sending me to a new person every week as if this was normal. Asked me to provide a document for the sale of a home months ago that THEY were the lender on multiple times even though I had already given it to them via email AND uploaded to their portal. Had issues with their ‘portal’ due to my other (long ago sold) home that they were the lender on. Still owe me a 1,000.00 credit I’ll probably never see. Sent me a survey for a guy named Craig I’ve never heard of. Shit show.

Closed with Lender:

Yes
Loan Type:

Home Purchase
Review Type:

Lender Review

(1 of 5)

The worst home buying experience.

I’m at a literal loss for words and can’t begin to explain the weeks of such frustration and exhaustion and emotional damage this experience has caused me. I will never recommend PennyMac to anyone else. Which is such a shame because my precious experiences with PennyMac has been really great. This most recent experience was night and day different.

Closed with Lender:

Yes
Loan Type:

Home Purchase
Review Type:

Lender Review

(2 of 5)

Very frustrating experience

The entire experience was nothing short of frustrating. From being asked to submit the same documents over and over again (myself and the builder) to the appraisal not being ordered in a timely manner and then being lied to about it to that causing a delay in our closing; the entire process was unacceptable. Although my processor was kind and friendly, she did not do her job or even read the emails sent to her by myself our our builder causing many mistakes that lead to us losing time and money.

Closed with Lender:

Yes
Loan Type:

Home Purchase
Review Type:

Lender Review

(4 of 5)

Recommended

Good

Apache work in the painting in texas city for 2 yers in this site good day I’m with for you Ofer tha

Closed with Lender:

Yes
Loan Type:

Home Purchase
Review Type:

Lender Review

(5 of 5)

Recommended

Home buying made simple

Michael and Grace made the entire experience easy. I was impressed with their expertise, friendliness, and efficiency. I would totally use Them again for my next home purchase.

Closed with Lender:

Yes
Loan Type:

Home Purchase
Review Type:

Lender Review

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Pennymac

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