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

Review Breakdown

Showing 1 star reviews | Show all reviews

Poor communication

This lender was difficult to work with. I was the buyers agent on the transaction and the various people in the process all but refused to speak with me. Couldn’t get anyone on the phone. Requested phone calls, no response. Even after my buyer requested that they contact me! It felt very much like an assembly line process and once one person was done with their portion of the job, it was on to the next (unbeknownst to me who the next contact was). I had zero updates from the lender and it was just a hold your breath and hope for the best situation since myself and the listing agent had no clue where we were at in the process. We had to push out closing because the lender did not complete the loan in time. Would not recommend.

  • Closed with Lender:

    Yes
  • Loan Type:

    Home Purchase
  • Review Type:

    Lender Review

Poor Experience with Loan Processor Faiza Saleem

Stressful, waiting until the night before closing to request building doc********.very disorganized with everyone asking for different documents. Faiza never returned calls/picked up the phone for myself, attorney or title company. No Communication and very poor service. Do Not Recommend.

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  • Closed with Lender:

    Yes
  • Loan Type:

    Home Purchase
  • Review Type:

    Lender Review
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I Got Hosed!

Communication meltdown in the end. I never received any advanced statement of the closing docs. They stuck me with PMI even though I had the funds to pay more down. They screwed me out of over $20K Equity in upgrades paid to the builder since the materials were not from the builders normal suppliers. I had them for the last 3 mortgages without a hitch, but the fast one they played with an appraiser who took nearly 2 weeks to write their report, only after reviewing all the addendums. They colluded to under value my new home. It took my realtor 5 minutes to come up with 4-5 comps of older homes, smaller than mine selling in the neighborhood for tens of thousands more. Now I'm stuck for the next 6 months with that loss appraisal keeping me from refi-ing to avoid the PMI or unlocking some equity. I wouldn't ever recommend them ever again. I hate to write them a check for any payments thru the period it will take me to get out from under them.

  • 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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