Mortgage -- Applying for a mortgage or refinancing an existing mortgage -- Complaint #4803964
Complaint Overview
Complaint ID: 4803964
Company: Pennymac Loan Services, LLC.
Product: Mortgage
Sub-Product: Conventional home mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage
State: Florida
ZIP Code: 325XX
Date Received: 2021-10-12T12:00:00-05:00
Date Sent to Company: 2021-10-13T12:00:00-05:00
Company Response: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
We applied for a loan with Penny Mac. After discussing with the loan officer the what the situation was he decided that we should get a certain type of loan. We paid a {$100.00} fee and provided all documentation. We began getting stuff in the mail that our credit has been run and also documentation from a company stating that they would be handling the closing etc. I was under the impression that we should be closing soon and I reached out to Penny Mac on XX/XX/XXXX knowing that we should be closing soon. I was told that someone would call me back. On XX/XX/XXXX I reached out again because I had not heard back and at this time I was told that the loan had been moved to an in active status and that someone would reach out to me. I had not heard back and reached out again on XX/XX/XXXX and requested a call and was told that the issue would be escalated since this was my third time asking for a callback. I received a call back from XXXX XXXX who said that she was a manager and that the company had failed to do their job and to inform us that we were not approved for a loan and that we had four days left on our locked in interest rate and that she would take the loan in front of the board on Monday the XXXX to see what they could do. I once again had not heard back so I reached out to XXXX yesterday and finally received a call back and was told that there was nothing that they could do and that we were not approved for the loan even though they had failed to inform us in the time period they are legally suppose to. We have now lost out on a locked in interest rate which was a lot lower than what I can get now and I am having to pay interest and try to find another company
Frequently Asked Questions
What is Complaint #4803964 about?
Complaint #4803964 was filed against Pennymac Loan Services, LLC. regarding Mortgage specifically about Applying for a mortgage or refinancing an existing mortgage. It was received by the CFPB on 2021-10-12T12:00:00-05:00.
How did Pennymac Loan Services, LLC. respond to this complaint?
The company responded with: "Closed with monetary relief". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Mortgage) and describe your issue in detail.
Can I see other complaints against Pennymac Loan Services, LLC.?
Yes, visit the Pennymac Loan Services, LLC. company profile at readthecomplaint.com/company/pennymac-loan-services-llc to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.