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Old 02-03-2009, 07:10 PM   #41
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The PenFed nightmare is over. What a day. I got my HUD 24 hours before closing and it was all wrong. What a scramble to get it fix. I just signed my papers about an hour ago - it was missing the right to rescind. lol

And guess what, my loan processor still never called me with all the issues today. I guess she's only allowed to send emails.

I will NEVER deal with PenFed again.
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Old 02-04-2009, 05:08 AM   #42
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Quote:
Originally Posted by JohnDoe View Post
The PenFed nightmare is over. What a day. I got my HUD 24 hours before closing and it was all wrong. What a scramble to get it fix. I just signed my papers about an hour ago - it was missing the right to rescind. lol

And guess what, my loan processor still never called me with all the issues today. I guess she's only allowed to send emails.

I will NEVER deal with PenFed again.
Seems like it worked out fine, or otherwise you should have not "signed my papers". But, seriously, if you really feel that way, and now that everything has been finished, why not take a positive approach and write them a letter (address on the site) and vent your feelings and tell them what exactly went wrong? Could improve the service for those that follow.
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Old 02-04-2009, 05:27 PM   #43
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The PenFed nightmare is over. What a day. I got my HUD 24 hours before closing and it was all wrong. What a scramble to get it fix. I just signed my papers about an hour ago - it was missing the right to rescind. lol

And guess what, my loan processor still never called me with all the issues today. I guess she's only allowed to send emails.

I will NEVER deal with PenFed again.
This is the only negative thing I've ever read about Penfed.
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Old 02-04-2009, 08:24 PM   #44
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This is the complete opposite experience I had dealing with them in May. They were awesome in May but that was a HE and not a mortgage.

I just wish sometimes people would do their job!
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Old 02-04-2009, 09:32 PM   #45
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Sometimes sh%# happens. A couple of years ago I applied for a Visa card, asking for a 5k credit line with them. They call and tell me that they need a couple of years worth of tax returns to review. I told them to just forget it as it wasn't worth the headache. I also had a 100k in cd's with them plus great credit report. Anyway, a couple of months later when logging on to my cd acct, they tell me I was instantly approved for a 15k credit line. I go accept and a year later it is bumped up to over twice that.

So who knows why I got the hard approach the first time. It worked out in the end.
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Old 02-04-2009, 09:34 PM   #46
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Our experience wasn't great either.
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Old 02-05-2009, 12:26 PM   #47
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A couple of years ago I applied for a Visa card, asking for a 5k credit line with them. They call and tell me that they need a couple of years worth of tax returns to review. I told them to just forget it as it wasn't worth the headache. I also had a 100k in cd's with them plus great credit report.
Weird. I also had about $100K of CDs (thanks, ER forum !!) and they
approved my VISA within about an hour.

Quote:
Anyway, a couple of months later when logging on to my cd acct, they tell me I was instantly approved for a 15k credit line.
Yup, me too.
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Old 02-10-2009, 11:33 AM   #48
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I just called PenFed to see if my mortgage funded. I was on the phone for 20+ mins, transferred to 3 different people, and I still don't know.

I hung up after another transfer and put on hold.

What a joke. They SUCK!
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Old 02-10-2009, 11:45 AM   #49
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I just called PenFed to see if my mortgage funded.
You'll receive a large packet in the mail a few days after the loan is funded (my loan was funded the morning after the 3 day right of rescission expired and my packet was post marked the same day). A few weeks after that, you'll be able to see the mortgage details on the website.

Call/email the settlement company or check the website of the previous mortgage lienholder to verify the old mortgage has been payed off.
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Old 02-10-2009, 12:22 PM   #50
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I just called PenFed to see if my mortgage funded. I was on the phone for 20+ mins, transferred to 3 different people, and I still don't know.

I hung up after another transfer and put on hold.

What a joke. They SUCK!
John. You're having a terrible time with them. You should refuse to take their money and never do business with them again. Life is too short.

Guess i got a different PenFed - they've been the best financial institution i've ever dealt with, having bought and sold maybe 20 properties. Omly done a single refi, over newyear's last year, with PenFed.
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Old 02-10-2009, 03:45 PM   #51
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John. You're having a terrible time with them. You should refuse to take their money and never do business with them again. Life is too short.

Guess i got a different PenFed - they've been the best financial institution i've ever dealt with, having bought and sold maybe 20 properties. Omly done a single refi, over newyear's last year, with PenFed.
I got a different penfed in may, too. But they are obviously understaffed these days.

I don't plan on using them again. They'll probably sell my mortgage, then I close my share out and be done with them.
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Old 02-10-2009, 03:47 PM   #52
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You'll receive a large packet in the mail a few days after the loan is funded (my loan was funded the morning after the 3 day right of rescission expired and my packet was post marked the same day). A few weeks after that, you'll be able to see the mortgage details on the website.

Call/email the settlement company or check the website of the previous mortgage lienholder to verify the old mortgage has been payed off.
I found the title company's phone number at work and gave them a call. Got all my questions answered right away.
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Old 02-10-2009, 07:30 PM   #53
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This is the only negative thing I've ever read about Penfed.
Here's another...

After reading all the praise here, I joined up to get a small HELOC - no existing loan, %20 LTV on the home, two earner household each with 20+ year government jobs, perfect credit...what could go wrong?

You name it, it did. Suffice it to say, the customer service was horrendous, the demands of us equally so, and they refused to honor loan terms stated on their web site, and by the loan officer.

I finally told them to pound sand, went to the local US Bank, and got a better deal and access to funds in 3 days.

Given the huge number of positive posts about them here, logic suggests my experience was an anomaly...not that such an observation, makes me feel any better about them.
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Old 02-10-2009, 07:59 PM   #54
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They'll probably sell my mortgage, then I close my share out and be done with them.
Check the RESPA Servicing Disclosure document signed at closing. I suspect it might state:

1.
[X] We are able to service your loan and we
[X] will
[X] retain all of the mortgage servicing

2.
For all first lien mortgage loans that we make in the 12-month period after your mortgage loan is funded, we estimate that the percentage of mortgage loans for which we will transfer servicing is between:
[X] 0 to 25% or NONE
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Old 02-11-2009, 10:28 PM   #55
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Well, I guess pen fed has become swamped. Noticed today that they are now charging a 1% origination fee on all fixed rate loans, which I believe is new.
DW and I are finishing up our refinance and I can echo others' recent statements that the service over the past ~6 weeks has been less than wonderful. This week our application was reassigned to a new loan processor and (so far) she's been great.

Net-net of this is that seems PenFed is starting to catch up on their backlog of applications, at least from our perspective. Another sign things are getting better is that they have removed the 1% origination fee that started back in early January to help stem demand.
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anyone get an email from Penfed today.............
Old 02-11-2009, 11:16 PM   #56
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anyone get an email from Penfed today.............

concerning possible credit card fraud? Below is a part of the email. Says SS numbers were not stolen but that I should monitor my acct. Says I will not be responsible for any charges not mine. I took a look and no charges have been made. They say I can change my cc number if I would like.

Just wondered if all Penfed cc customers got this.


Dear Member,

Visa Fraud Control has recently notified us that your Pentagon Federal Credit Union Visa credit card account number, name, expiration date, and CVV (a three-digit verification value on the magnetic stripe of the plastic) may have been compromised in a processor level breach at Heartland Payment Systems, Inc. Heartland Payment Systems, Inc. is one of the nation's largest payment processors delivering credit/debit/prepaid card processing, payroll, check management and payments solutions. Heartland has dedicated a website, www.2008breach.com to provide additional information on the breach.
Information pertaining to your other Pentagon Federal Credit Union account(s) has not been associated with this event or compromised in any way. The compromise did not occur at Pentagon Federal Credit Union nor did it involve any of our systems. All of your Pentagon Federal Credit Union account information remains absolutely secure.
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Old 02-12-2009, 05:53 AM   #57
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Strange that there is no mention of this on the PFCU Site. Here is some more information on the "breach" from Heartland Systems Site: http://www.2008breach.com/
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Old 02-12-2009, 08:28 AM   #58
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Yeah, I got that memo too.
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Old 02-12-2009, 08:56 AM   #59
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I got an e-mail from them yesterday(11th) at 930pm, reference to the last 4 digits of my credit card number with the above notice.

There was also a local news story a couple days ago that a local bank and a local credit union had the same possible problem.
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Old 02-12-2009, 10:04 PM   #60
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Count me in too. Got the same e-mail. Would rather not request a "new"

credit card number. Would have to change my providers that charge my

credit card directly. What do you experts recommend doing? Is the risk

that great?
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