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**We are not affiliated with any mortgage servicer, the investor/beneficiary of your mortgage note, the mortgage insurer (if applicable) or any government agency. We are a homeowner advocacy group with more than a decade of helping homeowners and professionals with mortgage assistance negotiations. The information found on this page is for educational and convenience purposes only. The information found on this page should be considered as opinion and not fact based on our experience with lenders over 10+ years. Consult your mortgage servicer directly or a professional before using any of the information found on this site. If you are seeking an intermediary to assist you in getting help with your mortgage you may contact us at 888-934-3444 or via email at [email protected] for further review for a no fee, no obligation, consultation. If required you may be referred to a local professional or legal counsel for additional assistance with your mortgage. Please read through our Disclaimer page for additional details. We do not represent in any way any financial institution named on this page. If you feel that any of this information has become outdated or is incorrect please contact us immediately.**

PennyMac Corp. Loan Modification

Get Help With Your PennyMac Loan Modification

Talk To A Specialist Who Knows How To Deal With A PennyMac Mortgage.

Get Help With Your PennyMac Loan Modification

Talk To A Specialist Who Knows How To Deal With A PennyMac Mortgage.
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PennyMac Corp. Mortgage Modification Process

PennyMac Corp. has the similar conventional loan modification process which most of the companies have. The process is further explained below:

  1. Interview By Phone The process of PennyMac loan modification initiates by a phone interview.
  2. Package Submission After the interview the second process the complete filling out of the Request For Mortgage Assistance (RMA) form which requires the complete documentation of the financials.
  3. PennyMac BPO  (Broker’s Price Opinion) Sometimes during the loan modification process valuation of the property is required, for this broker’s price opinion is obtained. Sometimes Automatic valuation model is used for the valuation.
  4. Negotiations In this stage of the process the terms are negotiated and reviewed and the reviewed terms are sent to the underwriting for approval.
  5. Modification Approval/Decline The servicer responds on behalf of the client about the approval or decline of the modification application.

We regret to say that the process is never this easy. We Absolute Consultant Group (ACG) are a company that supports the homeowners through the loan modification process. The runarounds are normal during the modification process. Sometimes the documents have to be resubmitted again and again. The departments give you the run around from department to department. The transfer from PennyMac loan modification department to customer servicing department their transferring you back to customer service is pretty normal. Coming to our staff rather than submitting the wrong information, getting denied or not being able to figure out what to do can save you a lot of trouble. Our staff is available to review your paperwork and to help you step with the best foot forward. Call us at 888-934-3444.

PennyMac’s Home Mortgage Loan Modification Timeline

There are a lot of levels of bureaucracy in a company like PennyMac Corp. Due to this the timeline of modification of PennyMac loan modification varies due to reasons that sometimes are very straight but not always. Here are a few reasons why the answer to this question has such complicated answer.

For one, PennyMac is a company that functions as a loan provider only. They represent dept on somone else’s behalf. This majorly limits the decision taking capabilty of PennyMac. As a home loan servicing company they follow the Pooling and Servicing Agreement (PSA), This serves like an agreement with all institution. They are allowed to make some decisions on the investor’s behalf for which they are servicing the loan but not all the decisions. This means that they have to get permision from the investor for every loan modification that they want to make. Certain investors take the process of making decision and do it themselves. In this kind of regulated business the more hands involved the longer it takes in processing leaving PennyMac Corp’s hands tied.

Another issue, Timeline is priority in PennyMac loan modification. The servicer usually prioritize the application by the date it was received but it depends upon other factors too. The applications are usually sorted by first come first serve basis but it depends on if you have a near foreclosure date. If that is the case then it is likely that your application will be pushed to the front of the line and considered sooner for the mortgage asisstance. It must be kept in mind that the institutions like PennyMac have foreclosure dates for almost every day. Due to this, the process does not proceeds as quickly as you want it to.

  • Lastly, All mortgages are not created equal. There are a large number of programs each with different terms that how they will modify your loan. Mostly, if the first program does not work for you or them they will consider you for the next one and so on untill they find the mortgage solution that works. Departments due to these conditions are very specialized so many times different representatives handle different parts of the review.

PennyMac Corp’s Home Mortgage Loan Modification Timeline Conclusion: While we would like very much to give our customers the exact timeline for the loan modification. the timelines vary greatly from customer to customer. It depends on whether the servicer can take the decision themselve or they have to send it to the investor for approval. It depends on whether you fit the first program you are reviewed for or the 10th or 11th. It also depends on the factors from outside the bank such as how fast they can get the valuation on the property and how fast they receive the legible documents.

If Your PennyMac Modification Application Has Been Denied. It May Not Be Too Late


Dealing With A Penny Mac Loan Modification Decline

Have you been declined by PennyMac? Has PennyMac Corp. denied your request for Home Loan Modification. The Decline can be confusing. Understanding the details of all the plans and how that conflicts with your information is key. Here at ACG we have dozens of points we review in order to understand why your PennyMac Home Mortgage loan modification was rejected. Have us review your declined modifcation for free by calling us at 888-934-3444.

Additional PennyMac Corp’s Mortgage Contact Information

PennyMac Corp. Customer Service

PennyMac Corp. Home Mortgage Complaints


PennyMac Corp. Home Mortgage Loan Modification Reviews

PennyMac Corp. Loan Modification Complaints

PennyMac Corp. is a large company and the rules are literally changing every day. There are a lot of departments and even more hands in the pot of each case that making it through the system can be a real drag. It doesn’t have to be though and that’s where we come in. Give us a call and see how we can help you with your loan modification. Call 888-934-3444.

PennyMac 1 Star Reviews

PennyMac 1 Star Review:

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Della L., Willis, TX

PennyMac 1 Star Review:

I wish I would have read these reviews prior to starting the loan process with them.  2 days prior to close they drop a bombshell on me and say that I need to fix a number of things that were listed as marginal on the inspection report. This is after having the inspection report for 2 weeks.  This is just one of the many things they have failed at.  They can’t tell me exactly when they are going to close the loan.  I’ve never seen such incompetence with a company.  DO NOT USE THEM TO PURCHASE A LOAN.

Cliff L., Reno, NV

Don't Be A 1 Star Review


Don't Be A 1 Star Review


PennyMac 1 Star Review:

I’m still dealing with an issue over overpayment (my mistake) from 10/16.  I’ve spent countless hours and talked to countless reps trying to get this resolved.  In December they withdrew 2 mortgage payments and I am left with overdraft fees.  They say they will pay them and then I never hear from them again.

I am going to remortgage the first chance I get because between the incompetency, unprofessional attitudes,  lies and calls that I owe them (when in fact they owe me) I don’t need the stress.  The first time I need help (I mistakenly paid my mortgage twice using different banking accounts) it’s been a nightmare and now January 2017 i’m still spending hours on the phone with them trying to resolve.  I had to file a complaint with the BBB and now i’m told because I did that, it’s going to take longer for me get anything resolved.

My loan was sold to Pennymac, try to avoid this company if you can.  I want to add my property tax to my mortagage, but I won’t with Pennymac, i’m afraid of how many calls and issues I’ll have with doing anything with my account.

Pauline N., Los Angeles, CA

1 Star Situations Happen Every Day


ACG 5 Star Reviews

ACG 5 Star Review:

Tried modifying my mortgage loan on my own, twice actually, but no luck. Until I called ACG. [I] got my loan mod approved and all is well.

Michael, Woodland Hills, CA

ACG 5 Star Review:

We were struggling trying to get assistance in keeping our home for over a year when I was introduced to ACG Today both my homes are modified and our family has a chance for a fresh start.

Patricia, Porter Ranch, CA

ACG 5 Star Review:

I have worked with [the] team personally and professionally referring them many clients over the past few years. If you need help with a loan modification, short sale, or want to avoid foreclosure I highly suggest you use Absolute Consultant Group!

Daniel, Santa Clarita, CA

You Can't Chance Being A 1 Star Review.

ACG Specialist Here To Help Your PennyMac Mortgage.

You Know You Can't Chance Being A 1 Star Review.

ACG Specialist Here To Help Your PennyMac Home Mortgage.

PennyMac Corp. Home Loan Modification Mortgage News