New Customer Information | Pennymac (2024)

FAQs

How do I speak to someone at Pennymac? ›

If you have additional questions or would like to speak with a Pennymac representative, please call (800) 777-4001.

Pennymac excels in government-backed mortgages, including FHA loans, and makes it easy to shop for customized mortgage rates online. But average origination fees are higher than most lenders', and it does not offer home equity lines of credit.

If there are insufficient funds in my Financial Institution Account or my Financial Institution refuses to pay amounts to Servicer for any reason, Servicer will attempt to cause my Financial Institution to draft from my Financial Institution Account two (2) times.

Pennymac's payment address is P.O. Box 30597, Los Angeles CA 90030-0597.

PennyMac Financial Services has paid $158.4 million to Black Knight Servicing Technologies, concluding a five-year legal battle over allegations of trade secret theft involving two of the biggest companies in the housing industry.

PennyMac was founded in 2008 with initial investments from BlackRock, HC Partners and the Company's founding management. Currently, approximately 20% of PFSI is owned by HC Partners, and 21% is owned by PFSI's executive officers and directors.

Mortgage Relief

It's called a short-term forbearance—a plan that provides temporary relief by allowing you to pay reduced, or even no, payments for a brief time, depending on your individual situation, along with protection from late fees and negative credit reporting. Getting set up with a forbearance plan is easy.

Key takeaways. If you miss one mortgage payment, lenders will often issue you a 15-day grace period to pay without incurring a penalty. If you miss four consecutive mortgage payments (or are 120 days late), most lenders begin the process of foreclosure on your home.

Many lenders offer mortgage products that allow homeowners to skip between 1-4 monthly mortgage payments each year, without question. If you decide to skip a payment, it simply means you won't be making one of your regular mortgage payments (principal + interest).

The reason the mortgage company is listed as an “additional payee” on the insurance policy is that the mortgage company has a vested interest in insurance coverage payments issued for any loss to the insured property.

Does PennyMac require escrow? ›

Overview. Unless prohibited by applicable law, or granted a waiver by Pennymac, the Seller must, pursuant to the guidelines set forth in this Delivery Procedure, establish an escrow/impound account for each mortgage loan sold to Pennymac.

In most cases, the first check you'll get will be for the “Actual Cash Value” (ACV) of your home immediately before the loss, also known as the “depreciated” value. That will be followed by one or more checks toward the “Replacement Cost Value” (RCV) if your policy provides that type of coverage.

Payments are considered late if they are not received by the due date on your Note. Most Notes require payments to be made on the first day of the month with a 15-day grace period before a late fee will be charged.

Early Payoff Policy

An Early Payoff exists when a Mortgage Loan is paid in full or when a curtailment in excess of 30% of the original principal balance occurs within 180 days after the Funding Date of such Mortgage Loan.

You may be placed on our internal Do Not Call List by calling (866) 601-3518, sending a secure message through our website at PENNYMAC.COM, or writing to PennyMac Loan Services, LLC, Attn: Corporate Privacy, PO Box 788, Moorpark, CA 93020-9903. For more information, contact us at the address above.