Information Disclaimer: Not Your Loan Servicer (Read More)

**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 If you feel that any of this information has become outdated or is incorrect please contact us immediately.**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. Short Sale

PennyMac Short Sale Negotiators. We're On Top.

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PennyMac Short Sale Process

Sometimes your investor will require you to first apply for PennyMac Loan Modification but once you have been denied for it the PennyMac Short sale process is pretty basic:

  1. We place a call to PennyMac Corp. and talk to their councellor to initiate the process.
  2. You will be required to complete and submit the PennyMac Request for Mortgage Assistance.
  3. Property valuation will have to be scheduled and completed using a Broker’s Proce Opinion (Certain Investors Require Two Interior Inspections)
  4. Negotiate Terms With PennyMac About Short Sale Fees And Costs To Be Paid Out Of The Seller’s Proceeds.
  5. Lender (PennyMac) A Response To Short Sale Offer Made.

If you have been through the short sale process with PennyMac you will have noticed that it is never easy with them. A lot of turmoils have been faced. Repeating the same steps over and over again is typical during PennyMac short sale. It’s part of the process to know that we will have to run around from department to department at PennyMac Corp. The Loan Modifiation Department maybe needs to close it out, or the short sale department doesn’t have someone assigned to PennyMac Customers Service Department; Above all you need to know better when they are sending you in the wrong direction. Often clients come to us after submitting the wrong information on their application, getting denied, and not being able to figure out what happened. We can help you review any declines.

PennyMac Short Sale Timeline

When dealing with PennyMac Loan’s Short Sale timelines vary on some very basic and other not so basic elements. These are just a few of the hoops we jump through when dealing with a short sale.

  • For one, PennyMac only works as servicer of mortgage notes. Therefore, PennyMac’s mortgage division has to abide by the PSA or Pooling and Servicing Agreement that governs the loans. This contract is directly between servicer and investor. PennyMac Corp does not always have the option to make the decisions themselves. The investor for which they are serviving the loan for has only delegated permission to PennyMac for some of the cases so for the cases the investor has not delegated PennyMac to make a decision they have to get permission from the investor. Some investors such as Fannie Mae (FNMA) and Freddie Mac (FHLMC) have pulled almost all decision making authority from many servicers. As always the greater the number of hands in the put the more layers of burueacracy you’re going to deal with.
  • Additionally, The fact that whether your PennyMac loan has a sale date or not greatly effects the short sale timeline. If it comes to stopping the sale so that the PennyMac short sale process can be completed, they can be very difficult to deal with. Your chances of getting bumped up in the process improve greatly if you can get a value completed. A company of PennyMac Corp. size has homes being sold at auction every day. Sale dates even for the coming week are not working with ugency. Remember this business is a first come first serve but it is also influenced by foreclosure status and proximity to the sale date.
  • Finally, not all negotiators are good negotiators. This goes for both sides. Often miscomunication In the banking world can lead to certain failure. People become very specialized in this niche of representing homeowners infront of PennyMac Corp. in these financial application processes to find mortgage assistance. Often you will be put though the multiple levels of management including approval from an investor as mentioned above depending on what their total losses are.

PennyMac Short Sale Timeline Conclusion: Your PennyMac Short Sale Timeline will vary based on many different factors. Decisions can be made in house will clearly be quicker than those that have to be sent out for appoval., what the value comes back at from the appraisal completed by PennyMac’s Short Sale Department compared to what the offer is that is being made to them, how fast PennyMac’s Loss Mitigation department received the PennyMac Short Sale Application documents are received (readble) and other factors will come together to effect how long it will take for your PennyMac Short Sale to be Approved.

If Your PennyMac Short Sale Was Denied There May Still Be Options.


How To Fix A PennyMac Short Sale Decline?

Often dealing with PennyMac Corp. and how they deal with short sale buyers offers being declined may be confusing. Often they will not be clear not only as to why but if there is anything that can be done to fix it.  Here at ACG we review dozens of points in order to understand why your PennyMac short sale offer was rejected. Have us review your declined short sale for free by calling us at 888-934-3444.

PennyMac Loan Servicing Contact Information

PennyMac Mortgage Customers

PennyMac Loan Servicing Complaints

PennyMac Home Mortgage Short Sale Reviews

PennyMac Short Sale Complaints

Often we have gotten on the phone with an PennyMac Loan for one of our Customers where we received an offer that changed at a later date. They told us the loan modification was approved and then later it was declined.

PennyMac 1 Star Review:

Penny mac tried to foreclose on my house even while i was making my mortgage payments.  They would put my mortgage payments into my escrow and then say i didnt make my payment. Penny mac paid an insurance company  $2500 out of my escrow account that wasnt even my insurance company.
Please don’t use them. They will foreclose in any way they can. Crooked company

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

ACG Specialist Here To Help Your PenyMac Mortgage.

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

ACG Specialist Here To Help Your PennyMac Mortgage.

PennyMac Short Sale News

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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. The information found on this page is for educational and convenience purposes only. The information...

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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. The information found on this page is for educational and convenience purposes only. The information...

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