PennyMac Loan Services in Moorpark, California

My experience with PennyMac and working with Eric Everett and the MAC Team I give them 3 stars in the matter that on my refinance loan Eric Everett the loan officer and the MAC Team were not in the same page. The MAC Team were working way to fast on their end which it really messed up my final closing date and ended up paying 5K plus closing costs. Other than that they are friendly staff and they are knowledgeable just need to be better on their team communications. Also I did experience very low responsiveness from both teams, phone calls or emails, very hard to get in contact directly with them.

The Team at PennyMac helped me get a home equity loan. Every step of the way, they were always very quick to answer any questions I had and explain the process. Polite, friendly and professional. I highly recommend PennyMac.

Edward Taylor and Jennifer Washington took care of my refinance. Excellent, well informed and painless during the process. Target dates were communicated and on time. If you already have a home loan with Penny Mac and you are thinking of refinancing, refinance with Penny Mac.

PLEASE READ BEFORE WASTING YOUR PRECIOUS TIME! Everyone reading, please understand I am a very reasonable man, but I am telling you from the bottom of my heart, DO NOT BUY A HOME WITH THIS COMPANY! Communication was absolutely terrible. Their “portal” to submit documents was made by an intern. Their closing costs are far from accurate. Multiple documents requested on DAY of closing, and which some of them they already had, that resulted in pushing closing date multiple days. They send you zero documents for you to fill out. You literally have to find them all on your own. Like no joke, I was googling all the paperwork they were requesting. Then when I found it and filled it out, the portal doesn’t even have a drop down for you to select as the subject line. So you just have to select other and type in your own submission subject line. Then you will receive an email asking for said document because you weren’t able to select a pre created document name. I would literally submit 10 out of 15 documents, the day after day I would get emails asking for 15 documents. I’d call, and they would say “oh I see that you actually submitted these documents two weeks ago, I’m sorry about that”, then no s***, get and email the next day asking for 15 documents. I was told I would be getting 1k back at closing. Come to find out it was 2700 I OWED. Then we called on day of signing to find out why. Then they figured out where they messed up and it was 1700... then 1200... then they called me and said “we are sorry Mr Reid, it’s actually 720 for closing”. AT THE SAME TIME SENDING LOAN DOCUMENTS FOR 670 TO THE TILE COMPANY. Yes it dropped but you can understand the comply s**** show that is for documents on the day of closing. Not to mention on day one of closing, “oh we see here you need this document”.... day two of closing “ oh we found out you need one more document”... DAY THREE PASSED CLOSING DATE “ sorry everyone, we need ANOTHER DOCUMENT THAT WE FORGOT”. Please note that it took almost 60 full days to close and they were still asking for documents at closing. Our builder/seller, agent, title company, and buyer for our town home were all in shock of how terrible Penny Mac is ran as a company. It was an absolute circus. It honestly effected my mental state and screwed with my life for 2 full months. I have never in my life dealt with such a terrible company as penny mac. I literally almost lost my house due to their incompetence. It was nothing short of a NIGHTMARE! Please do not use this company. I promise you will be disappointed.

Our experience with PennyMac was very good. We did experience a delay between our loan rep and underwriting that was less than desirable. All of the team members we dealt with were great to communicate with.