Electronic Communications Disclosure & Consent Agreement

Effective Date: November 10, 2015

Please read this Electronic Communications Disclosure and Consent Agreement ("Disclosure") thoroughly - It contains important information about your legal rights. This Disclosure covers all of your accounts, products, and services with PennyMac Loan Services, LLC (“Pennymac”) and its affiliates (collectively, "we", "us", and "our") accessible, either currently or in the future, through our websites, or other electronic means (“Online Services”). The words "I", "you" and "your" mean each account holder, product owner and/or service user identified on an account, product or service.

  1. Your Legal Rights

    Certain laws and regulations require us to provide specific information to you in writing, which means you have a right to receive that information on paper. We may provide such information to you electronically if we first present this Disclosure and obtain your consent to receive the information electronically. Your consent will also apply to any other person named on your account, product or service, subject to applicable law. By providing your consent to receive communications electronically from us, you confirm that you have the hardware and software needed to receive and access this information.

  2. Types of Electronic Communications You Will Receive

    You understand and agree that we may provide to you in electronic format only, by posting the information on Pennymac’s secure website where you access your account(s), through e-mail (if applicable and if you have provided a valid e-mail address), or other electronic means, agreements, disclosures, statements, notices, and other information and communications regarding your accounts, services and products, the use of our websites or our other electronic services, your relationship with us, and/or other programs, products or services that are or may be in the future made available to you (collectively, "Communications"). Such Communications may include, but are not limited to:

    • This Disclosure and any updates;
    • The service or user agreements for access to our websites or other electronic services, all updates to these agreements and all disclosures, notices and other communications regarding transactions you make through websites or our other electronic services;
    • Disclosures, agreements, notices and other information related to the opening or initiation of an account, product or service including, but not limited to, account agreements, fee schedules or other disclosures or notices that may be required by the Truth in Savings Act, Electronic Fund Transfer Act, Truth in Lending Act, the Equal Credit Opportunity Act, the Fair Credit Reporting Act, the Gramm Leach Bliley Act, the Real Estate Settlement Procedures Act or other applicable federal or state laws and regulations;
    • Periodic, annual, monthly or other statements, disclosures and notices relating to the maintenance or operation of an account including, but not limited to, account information, account activity, account inactivity, payments made or due, or other statements, disclosures or notices that may be required by the Truth in Savings Act, Electronic Fund Transfer Act, Truth in Lending Act, the Equal Credit Opportunity Act, the Fair Credit Reporting Act, the Gramm Leach Bliley Act, the Real Estate Settlement Procedures Act or other applicable federal or state laws and regulations;
    • Any notice or disclosure regarding an account, product or service fee, such as a late fee, a fee for a draft, check or electronic debit returned for any reason, such as insufficient funds fee or a fee as a result of a stop payment order;
    • Any notice of the addition of new terms and conditions or the deletion or amendment of existing terms and conditions applicable to accounts, products or services you obtain from us;
    • Our Privacy Policy and other privacy statements or notices (by posting such notices on our website);
    • Certain tax statements or notices that we are legally required to provide to you, such as annual IRS interest statements; and
    • Certain information or forms that we request from you and ask you to submit electronically.
  3. Types of Communications You Will Receive in Paper

    This Disclosure does not apply to any communications that we determine, in our sole discretion, that we are required to deliver in paper form under applicable law or that you should receive in paper rather than electronic form. Such communications shall be mailed to the primary address we show for you in our records or otherwise delivered as required by law or the governing agreement.

  4. Hardware and Software Requirements

    Most Communications provided electronically are either in HTML and/or PDF format. For Communications provided in PDF format, software compatible with Adobe Reader 6.0 or later versions is required - A free copy of Adobe Reader may be obtained from the Adobe website at www.adobe.com

    In certain circumstances, some Communications may be provided by e-mail. You are responsible for providing us with a valid e-mail address to accept delivery of Communications. At our option, we may also post the emailed Communications within our websites. In this situation, you agree that once we email the Communications to you and post them within our websites, that we have delivered the Communications to you in a form that you can retain.

    To print or download Communications you must have a printer connected to your device or sufficient hard-drive or other storage space to store the Communications.

  5. How to Withdraw Your Consent

    Subject to applicable law, you may withdraw your consent to this Disclosure by contacting us in writing at P.O. Box 514387, Los Angeles, CA 90051-4387, Attn: Correspondence Unit, or by calling us at (800) 777-4001 during normal business hours. At our option, we may treat your provision of an invalid email address, or the subsequent malfunction of a previously valid email address, as a withdrawal of your consent to receive electronic Communications. You will not be charged a fee to process the withdrawal of your consent to receive electronic Communications, however your access and use of the Online Services may be terminated. Any withdrawal of your consent is effective only after Pennymac has had a reasonable period of time to process your withdrawal.

    Consent Coverage; Certain Notices From You Are Not Covered. Applicable law or contracts sometimes require you to give us "written" notices. You must still provide these notices to us on paper. Your consent here does not relate to those notices.

  6. Obtaining Copies of Electronic Communications.

    You may print or make a copy of Communications by using the "Print" button (or otherwise using your printing functionality) or saving a copy - do this when you first review the Communications because after submission we do not necessarily keep them all in a place that you can access.

    Upon request, we will provide you with a paper copy of any Communications provided electronically by us to you pursuant to this Disclosure, provided we receive your request within 12 months after the date the Communication was first made available to you electronically. You may request a paper copy of these Communications by calling us at (800) 777-4001.

    Be sure to specify your account number, the specific Communication for which you are requesting a paper copy, and the address to which it should be mailed. We may charge fees for paper copies of the Communications.

  7. Updating Your Contact Information

    It is your responsibility to provide us with true, accurate, and complete information. In the event that your e-mail address or other contact information is changed, you agree to promptly notify us of such changes by calling us at (800) 777-4001 and communicating the contact information changes.

    If you fail to update or change an incorrect or invalid e-mail address or other contact information, you understand and agree that any Communications shall nevertheless be deemed to have been provided to you if they were made available to you in electronic form on our websites, e-mailed to the e-mail address we have for you in our records, or delivered through other electronic means.

  8. Retain Copies for Your Records

    All Communications, either electronic or paper format, from us to you will be considered “in writing.” We recommend that you print or download a copy of this Disclosure, the applicable service agreement and all other Communications to retain for your permanent records; if you have not already placed a copy of our Privacy Policy in your records, you can obtain another copy.

  9. Termination / Changes

    We reserve the right, at any time and at our sole discretion, to discontinue your electronic Communications, or to terminate or change the terms and conditions on which we provide electronic Communications. We will provide you with notice of any such termination or change as required by law.