PennyMac Loan Services Complaint

PennyMac Loan Services, LLC Bank account or service department,

Other bank product/service Making/receiving payments, sending money New Hampshire

I had an insurance claim that was over $10000.00 so the insurance check was made out to me, my husband ( who is the co-borrower ) and the lender ( PennyMac ). When I recieved the check and the adjuster 's estimate I called PennyMac who told me all I needed to send in was the check and a copy of the adjustment and they would release the - - of that check back to me. This was on - -. I waited and waited and when I returned from being out of town on - - I still had not gotten the check. When I called again I was told that the - person was incorrect and there were additional forms that I needed to send in, which was not told to me the - time in spite of me confirming the exact steps that were needed. Once I did send in the additional form I waited and waited for the check to be released. I then got a phone call that they messed up the processing of my check and it was going to be delayed ( due to their error ). This was -/-/-. I finally did

receive the remaining - of the original check I sent in 7-10 business days from the -. I asked several times to confirm that without a doubt I woudl recieve the check within that timeframe. I then recieved a phone call the week of the - saying that they were holding my funds until they recieved another form, which once again I was not originally told was needed ( as I was told that without a doubt I would recieve my check within 7-10 business days from teh - ). I called back and said because of my work schedule, I could not provide the document until Friday the earliest. I was told that if I faxed in the form on Friday - - - ) that they would recieve it that day and it would be processed that day. Due to my work schedule I did not get a chance to fax it in until Saturday the -. Additionally, I faxed in a copy of the invoice showing that the contractor had been paid in full so that the check would be written out to me and my husband only ( and not including the contractor as the payee ). When I called on - - I was told that they can not guarntee when faxes are received or processed and that they had no idea when it would be looked at. I am again away on business today ( the - ) and do not have access to the original document needed or the confirmation that the fax was recieved. Each time I call I am told something that turns out to be inaccurate despite my asking clarifying questions to confirm my understanding. I feel I have been lied to, that frontline personnal are not adequately trained and the company is being deceptive. Additionally, I have had to incur multiple expenses in an effort to expedite the process that would not have been needed had I the confidence that the company was being truthful with me or if they had followed through with what they had originally told me. This has caused an extreme amount of stress on me, impacted my work and personal life. In addition to the actual damages caused, this company has not been helpful, truthful or transparent with their practices and there is no compensation I will be able to receive for the way I have been mistreated and lied to.