FAQs

My loan was just transferred to Pennymac. What are my next steps?

Welcome to Pennymac! We are thrilled to have you as a customer. If your loan was recently transferred to us, your loan terms will remain exactly the same, but there are a few quick steps you should take to get your new account set up:

• Watch for your Welcome Package: You will soon receive a welcome package in the mail containing your new Pennymac loan number and other useful account instructions.
• Register your online account: Once you have your new loan number, you can register for your secure online account to set up paperless billing and make payments. (Note: It can take up to 14 days after your transfer date for your loan information to appear in our system.)
• Update your payment methods: If you use your bank's online bill pay service, you will need to update the payee address to Pennymac. If you had an automatic payment plan with your prior servicer, please watch your mail for specific instructions on how that schedule will be affected.
• Update your insurance: Your escrow balance will transfer to us automatically, but you must contact your homeowner's insurance carrier to update them with our new billing address (Mortgagee Clause).

Want the full checklist?

For mailing addresses, payment processing details, and our exact Mortgagee Clause, please visit our complete New Customer Information guide!