Estate planning at PennyMac
How to protect 5 PennyMac accounts — file death claims
PennyMac Customer Service (loan servicing)
Phone1-800-777-4001
Mailing Address
PennyMac Loan Services, LLC, Attention: Correspondence Unit, PO Box 514387, Los Angeles, CA 90051-4387
Payment / mortgage assistance
WebsiteLearn more→
PennyMac Customer Service (loan servicing)
Phone1-800-777-4001
Mailing Address
PennyMac Loan Services, LLC, Attention: Correspondence Unit, PO Box 514387, Los Angeles, CA 90051-4387
Payment / mortgage assistance
WebsiteLearn more→
PennyMac Customer Service (loan servicing)
Phone1-800-777-4001
Mailing Address
PennyMac Loan Services, LLC, Attention: Correspondence Unit, PO Box 514387, Los Angeles, CA 90051-4387
Payment / mortgage assistance
WebsiteNotify online→
Verified Jul 2026
PennyMac is a mortgage servicer, so the estate planning question is about a debt, not an asset. When the borrower dies, the estate must notify PennyMac and resolve the outstanding balance—through payoff, assumption, discharge, or surrender depending on the loan—rather than name a beneficiary.
PennyMac provides specific procedures for both proactive estate planning and filing claims after a death.
Preparing your estate
Beneficiaries and trust funding
How to review 5 account types at PennyMac.
View details →When someone dies
Death claim process
5-step process, 5 required documents, and contact information for survivors.
View details →Frequently asked questions
A successor in interest is someone who has received an ownership interest in the property that secures the mortgage - through inheritance, a divorce decree, or a living trust - but was not an original borrower on the loan. Once PennyMac confirms the status, the successor can request loan information, make payments, and receive statements, is protected from personal liability for the debt (the mortgage does not appear on the successor's credit report), and may apply to assume the loan. This status is defined under the Consumer Financial Protection Bureau's Regulation X (12 CFR 1024.30-1024.41).
The mortgage debt remains owed and payments continue to be due while ownership and successor-in-interest status are documented. Keeping the loan current avoids late fees and protects the home from foreclosure. A co-borrower, the estate, or an heir can make payments during this period; once PennyMac confirms successor-in-interest status, the successor can make payments and manage the account directly.
Yes. You can pay off the inherited mortgage with a new loan in your own name, which may change the interest rate and monthly payment. You must qualify for the new loan with your own credit history, income, and assets. Refinancing can also free up funds to buy out other heirs and take sole ownership.
The home can be sold to pay off the mortgage. The outstanding loan balance is paid from the sale proceeds at closing before any funds go to the heirs, and the remainder is distributed according to the will, trust, or probate court. If the payments are not affordable in the meantime, a successor in interest can ask PennyMac about mortgage assistance options to avoid foreclosure while the home is listed.
Sources
Data sourced from PennyMac primary sources (4 pages reviewed). How we research.
PennyMac Customer Service (loan servicing)
Phone1-800-777-4001
Mailing Address
PennyMac Loan Services, LLC, Attention: Correspondence Unit, PO Box 514387, Los Angeles, CA 90051-4387
Payment / mortgage assistance
WebsiteLearn more→
PennyMac Customer Service (loan servicing)
Phone1-800-777-4001
Mailing Address
PennyMac Loan Services, LLC, Attention: Correspondence Unit, PO Box 514387, Los Angeles, CA 90051-4387
Payment / mortgage assistance
WebsiteLearn more→
PennyMac Customer Service (loan servicing)
Phone1-800-777-4001
Mailing Address
PennyMac Loan Services, LLC, Attention: Correspondence Unit, PO Box 514387, Los Angeles, CA 90051-4387
Payment / mortgage assistance
WebsiteNotify online→
Verified Jul 2026
Estate planning articles
Learn how to protect your PennyMac accounts and other assets with trusts, beneficiary designations, and estate planning documents.
