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I recently refinanced my home loan and my mortgage was sold to Penny Mac. My taxes were paid prior to closing as required by the mortgage company.

Penny Mac then turned around and paid my taxes again creating a deficit in my Escrow account. Now they are charging me an additional $400.00 a month to recoup the deficit that they created. When I received written notification of this matter in February, I immediately contacted them. I also contacted the County who verified that taxes were paid twice and a refund check was issued back in November.

I have contacted Penny mac on numerous occasions and every time I get a different answer. One time it was that they received the refund but it had not yet been applied to my account, and to call back in four days. I call back in four days and someone else states that they will have to wait four to six weeks to receive a refund. Until then I am expected to pay the $400.00 extra per month.

Doesn't that mean that I am overpaying them? I will be paying more than what I paid on my loan before I refinanced. They are the worst mortgage company I have ever dealt with. What will they been doing with my extra $400.00?

Earning interest on my money?

They are criminals!!

Monetary Loss: $400.

Location: Seabrook, Texas

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Guest

My mortgage was sold to PennyMac on Sept '14. Just received a refund for escrow overages for over $1,900!

I have had this mortgage for 7 months and I have overpaid $1,900?

That's over $200/mo I can be saving from my monthly payment!

Guest

They did the same b.s. on my account.

They paid taxes unnecessarily, got a refund, but never dropped my payment back down. Seems like it happens pretty often by the way the guy on the phone reacted as if he's done this a hundred times.

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