Mortgage -- Trouble during payment process -- Complaint #6036986
Complaint Overview
Complaint ID: 6036986
Company: Pennymac Loan Services, LLC.
Product: Mortgage
Sub-Product: VA mortgage
Issue: Trouble during payment process
State: Florida
ZIP Code: 32259
Date Received: 2022-09-30T12:00:00-05:00
Date Sent to Company: 2022-10-01T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Tags: Servicemember
Consumer Narrative
My mortgage company ( PennyMac ) is overcharging us interest since we make extra principal payments. They started only applying our payments on paper, but the interest stopped going down until the following month after a I made the payment. On XX/XX/2022, my balance was {$470000.00}. We should have been charged {$880.00} on XX/XX/2022, but they charged us {$880.00}. Our interest rate is 2.25 %, and our note says our bill is due on the XXXX. Our balance on the XX/XX/2022 was {$470000.00}. Their math on my statements is no longer adding up since for the last 3 months. They said I make extra payments they are splitting my interest now. They are charging me monthly, and holding my extra principal for a month unless I pay it on the XXXX of the month and lose my 16 day grace period. This is their new policy that started 3 months ago if you make extra principal payments.
Frequently Asked Questions
What is Complaint #6036986 about?
Complaint #6036986 was filed against Pennymac Loan Services, LLC. regarding Mortgage specifically about Trouble during payment process. It was received by the CFPB on 2022-09-30T12:00:00-05:00.
How did Pennymac Loan Services, LLC. respond to this complaint?
The company responded with: "Closed with explanation". 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.