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PennyMac

7.2

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Quick Look at PennyMac

  • Online Mortgage Lending
  • Loan Options & Variety
  • Competitive Rates
  • Relief & Assistance Plans

PennyMac was founded in 2008 and services all 50 states in the U.S. As one of the largest and highest-ranked mortgage lenders in the country, PennyMac has assisted over 1.8 million homeowners refinance or buy new homes.

As an online lender, PennyMac can assist homeowners (or potential homeowners) from the comfort of their homes to refinance their current mortgage or purchase a new home.

Do Customers Like PennyMac?

PennyMac has received a 3.9/5 star rating from customers on Best Company — not bad, but not great either. To give users an idea of how many customers absolutely hated or loved PennyMac, let’s take a look at the percentage share of 5-star ratings vs the lower ratings (as of May 2021):

• 5-Star Ratings: 59%

• 4-Star Ratings: 12%

• 3-Star Ratings: 6%

• 2-Star Ratings: 6%

• 1-Star Ratings: 18%

The good customer reviews list the company’s online payment system as one of the biggest ‘positives’ of PennyMac’s service. Customers also loved their customer service and ability to get homebuyers a good mortgage rate.

Negative customer ratings complain about slow response times and difficulty with payments.

(PennyMac has not yet been fully and formally reviewed by our mortgage experts).

How We Rank

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