Mortgage -- Trouble during payment process -- Complaint #7730010
Complaint Overview
Complaint ID: 7730010
Company: Pennymac Loan Services, LLC.
Product: Mortgage
Sub-Product: VA mortgage
Issue: Trouble during payment process
Sub-Issue: Escrow, taxes, or insurance
State: Nevada
ZIP Code: 89084
Date Received: 2023-10-19T12:00:00-05:00
Date Sent to Company: 2023-10-19T12:00:00-05:00
Company Response: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Tags: Servicemember
Consumer Narrative
I signed my mortgage in XX/XX/2022. At the time of closing I noticed that they were trying to charge me an {$300.00} for taxes and insurance. The annual amount for my taxes was {$740.00} and my homeowners was {$730.00} per year. This would equal {$1400.00} or {$120.00} per month. I immediately inquired at the closing why I was being charged for escrow {$300.00} instead of {$120.00}. They advised me this was an error and would get it fixed but I could continue with the closing. My loan was then sold to Pennymac immediately without any accurate change to my escrow amount. I contacted Pennymac and they claimed to have corrected it. I then applied for Covid forbearance. My Covid forbearance is up and I will be starting to make my monthly payments. However, when I called to again advise that this amount for escrow was still incorrect, I was told it had been changed to {$240.00} per month but they would no longer pay my homeowners. So now I am being charged {$240.00} and my monthly property taxes are {$66.00}. The rate for the current tax year went up to {$800.00} per year. This is completely unacceptable. I am being charged an additional {$180.00} per month for my escrow. This is three times what it should be. I am not made of money and do not have money to pay almost {$200.00} per month to sit in an escrow account and do nothing. In addition, I have never received anything in writing from this company that they are no longer paying homeowners. I could get no help from people on the phone. They kept saying they couldnt discuss it until my account was caught up. I am currently waiting for a Covid 19 Reluef payment to be made to catch my account up, it was paid to the lender a few days ago and has not posted. This should be irrelevant because this issue involves exorbitant charges for escrow.
Frequently Asked Questions
What is Complaint #7730010 about?
Complaint #7730010 was filed against Pennymac Loan Services, LLC. regarding Mortgage specifically about Trouble during payment process. It was received by the CFPB on 2023-10-19T12:00:00-05:00.
How did Pennymac Loan Services, LLC. respond to this complaint?
The company responded with: "Closed with non-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.