NMLS# 35953

Pennymac

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

Ratings & Reviews
604 Reviews
  • Interest Rates
    Excellent
  • Fees & Closing Costs
    Excellent
  • Responsiveness
    Excellent
  • Customer Service
    Excellent

Review Breakdown

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

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

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

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LendingTree Certification:

The LendingTree Certification Program recognizes Lenders and Loan Officers with outstanding performance on the LendingTree Network, they are committed to providing exceptional customer service and are graduates of LendingTree University.

LendingTree Certification:

  • Certified Lender
    Certified Lenders have demonstrated their organizational commitment to employee development, at least 50% of their loan professionals have been certified while also providing exemplary service to LendingTree consumers.

Loan Officer Certifications:

  • Gold Leaf
    Gold Leaf is the cornerstone of the loan officer certification program and is designed to recognize loan officers committed to their own professional development while adhering to LendingTree best practices. Gold Leaf recipients know the fundamentals of LendingTree and online lending, they are equipped with the necessary skills to be best-in-class loan professionals.
  • Certified President's Club
    President’s Club is presented to an elite group of loan officers based on success levels in several areas including adherence to LendingTree best practices, commitment to professional development and dedication to customer excellence. Recipients have also met all Gold Leaf criteria.

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