FAQs

Can I set up a recurring monthly payment from my personal bank's bill pay service?

Yes, you can use your personal bank’s bill pay service. However, because every bank’s system is unique, we are unable to provide specific instructions or guidance on how to set it up. You will need to manage the setup directly through your bank’s website or app using your Pennymac loan number and our payment mailing address.

A More Reliable Alternative: Pennymac AutoPay While we cannot troubleshoot your bank’s bill pay system, we do offer a guaranteed, free alternative. We highly recommend enrolling in our Monthly AutoPay program to avoid the payment delays that sometimes occur when external banks mail physical checks.

• Guaranteed Timing: Your payment is withdrawn electronically on the exact date you choose, so you never have to worry about mail delays or late fees.
• Easy Setup & Control: You can easily set up, adjust, or cancel your recurring payment directly from your Pennymac portal.

To set up a reliable, free recurring payment with us, log in to your online account and navigate to Make a Payment > AutoPay.