FAQs

My loan is currently in the modification process. What will happen with my modification after the loan transfer to Pennymac?

First and foremost, please rest assured: you will not lose your progress. We understand that having your loan transferred while navigating a modification can feel stressful, but our goal is to make the transition as seamless as possible.

Here is how we handle your account based on its current status:

• If you are already in a plan: We will fully honor any existing repayment plan, trial period plan, or final loan modification agreement that you established with your previous servicer.
• If your application is still under review: If your prior servicer was in the middle of evaluating your hardship application when the transfer occurred, we will pick up the review process right where they left off.

Have questions about your specific account?

Because every modification is unique, we encourage you to connect with us to verify your details. Please call one of our specialized modification representatives directly at 866.629.4570 so we can review your file and confirm your exact next steps.