Mortgage -- Trouble during payment process -- Complaint #9385483
Complaint Overview
Complaint ID: 9385483
Company: Pennymac Loan Services, LLC.
Product: Mortgage
Sub-Product: Conventional home mortgage
Issue: Trouble during payment process
Sub-Issue: Escrow, taxes, or insurance
State: South Carolina
ZIP Code: 29579
Date Received: 2024-06-29T12:00:00-05:00
Date Sent to Company: 2024-06-29T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Tags: Older American, Servicemember
Consumer Narrative
Pennymac mortgage increased my payments in a letter on XX/XX/2024 from {$1200.00} to {$2300.00} due XX/XX/2024. XXXX things happened, First, unbeknownst to me my XXXX XXXX XXXX XXXX application was incomplete and beginning XX/XX/2024, I began working with the XXXX XXXX XXXX XXXX to correct this issue. It is resolved as of XX/XX/2024 but not yet reflected in my escrow. Second, Pennymac paid XXXX insurance companies when I had changed policies. XXXX XXXX XXXX XXXX raised my premium from {$920.00} on XX/XX/XXXX, XXXX to {$3100.00} for XX/XX/XXXX, XXXX causing me to obtain a cheaper policy at XXXX. Because Pennymac paid both policies, my escrow was at {$0.00} I was told I needed to contact XXXX XXXX XXXX XXXX To recover the overpayment! As I have been trying to do this, I have received an email that XXXX has bought XXXX XXXX XXXX XXXX, but have not responded my request. This was a Pennymac over payment and I dont understand why it is my responsibility to recover the premium? I have spent literally hours on the phone and Pennymac message center and email for the last month with Pennymac, the XXXX XXXX XXXX XXXX and the insurance company. Additionally, because these issues were in flux, I mailed my old mortgage payment amount and it was received XX/XX/XXXX. However, instead of making my mortgage payment, Pennymac has applied the payment to the reduction of principal! Please advise of any action I can take to resolve both the payment amount and application of payment.
Frequently Asked Questions
What is Complaint #9385483 about?
Complaint #9385483 was filed against Pennymac Loan Services, LLC. regarding Mortgage specifically about Trouble during payment process. It was received by the CFPB on 2024-06-29T12:00:00-05:00.
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.