Mortgage -- Applying for a mortgage or refinancing an existing mortgage -- Complaint #7243017
Complaint Overview
Complaint ID: 7243017
Company: Pennymac Loan Services, LLC.
Product: Mortgage
Sub-Product: Conventional home mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage
State: California
ZIP Code: 92118
Date Received: 2023-07-12T12:00:00-05:00
Date Sent to Company: 2023-07-12T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Tags: Older American, Servicemember
Consumer Narrative
On XX/XX/2023 XXXX XXXX and myself XXXX XXXX submitted an Assumption Loan Application with PennyMac which is my daughter 's Mortgage Company. My daughter is no longer going to marry the other half owner. Thus, I am was in the process of assuming the ex-fiance part of the existing loan. Today, XX/XX/2023, Wednesday at XXXXXXXX XXXX we were denied the Assumption Loan. XXXX XXXX from Pennymac informed us that we were denied the Assumption Loan because our debt ration was at XXXX XXXX. The required assumption debt/ratio is XXXX XXXX. When I asked show me the numbers exactly how that XXXX XXXX debt ratio was arrived to no avail, XXXX XXXX said he could not give me the numbers nor the procedure as to how the XXXX XXXX debt ratio was arrived. I asked for Pennymac to send me in writing how they arrived at the XXXX XXXX ratio. XXXX and I were approved for a {$420000.00} loan just XXXX weeks prior with another Mortgage Company. Our debt/ration was a XXXX XXXX At an interest rate of 6 %. PennyMac 's decision seems biased based on the fact that my daughter is financially in better standing since her and her exfiance purchased the condo. I am in excellent standing with a credit score of XXXX, my daughter 's credit score is XXXX. The headquarters to PennyMac Assumption Department phone number is XXXX XXXX XXXX XXXX is the Supervisor that I talked to on Monday after nobody would answer several phone calls and emails. XXXX XXXX 's email is : XXXX Please assist my daughter and I on identifying why were denied an Assumption Loan with numbers used to calculate our Debt/ratio. Lastly, I feel we're being discriminated against to due to our gender and XXXX surname!
Frequently Asked Questions
What is Complaint #7243017 about?
Complaint #7243017 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 2023-07-12T12:00:00-05:00.
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.