Strong training and leads, but poor stability and balance - Mortgage Loan Officer PENNYMAC Employee Review

4.0
May 28, 2026
Recommend
CEO approval
Business Outlook

Pros

- Constant warm leads - Competitive commission structure - Good initial training

Cons

- career advancements opportunity. Good performers are offered management roles but a lot of high producing officers usually turn down these offers. Salaried but less compensation - Frequent layoffs - Work/life balance - Can work remote but you will be leashed to your desk (Literally)

avatar
PENNYMAC Response
2w
Thank you for taking the time to share your honest feedback about your experience as a Loan Officer with Pennymac. We appreciate both the pros and cons you’ve highlighted, as they give us a clear view of where we are succeeding and where we need to focus our growth. We are so glad to hear that our initial training, steady stream of warm leads, and competitive commission structure supported your success. We take great pride in providing our production teams with a strong foundation to thrive, and it is wonderful to know those aspects hit the mark for you. At the same time, we completely hear you regarding the challenges of day-to-day work/life balance and the complex choices surrounding career advancement pathways. Your perspective on why high-producing officers might hesitate to transition into salaried management roles is incredibly insightful, and it is a piece of feedback we take seriously as we look to improve our leadership structures. While the mortgage lending industry always comes with unique shifts and challenges, we remain deeply optimistic about Pennymac’s future. We are continuously evolving and actively striving to build an environment that not only drives business success but also champions long-term stability, wellness, and truer balance for our teams. Even where we may have missed the mark in the past, our commitment is to learn, adapt, and build a more supportive workplace for everyone. Thank you for being a part of our journey during your time here. We value your contributions and wish you the absolute best in your future endeavors.

Explore other reviews about PENNYMAC

5.0
Feb 23, 2026
Anonymous contractor
Recommend
CEO approval
Business Outlook

Pros

good opportunity and meeting good people

Cons

nothing is there to say

avatar
PENNYMAC Response
4mo
Thank you for taking the time to provide your honest feedback about your experience with our company. We are delighted to hear that you enjoyed working with us in your capacity and appreciated the friendly work surroundings. Indeed, we believe that a positive work/life culture is a crucial aspect of any successful business, and we are glad that you recognized our efforts in this regard. Thank you for being a part of our team and we look forward to continuing our positive working relationship with you.
2.0
Jun 17, 2026
Recommend
CEO approval
Business Outlook

Pros

Training was always provided and you were never rushed to learn. Snacks were given on a daily basis. You had a Penny Pantry in the building that offered free coffee/Soda and a variety of food selections at a resonable price.

Cons

Low paying position at $22.00 an hour to start with no increases. The department couldnt find other Loan Specialist for the longest time and then increased the position to $27.oo an hour in an effort to attract more people. Four of the employees that were already there for a few years in the department were allowed to work remotely on Thursdays and Fridays, every new Employee had to work on site. Bonus was paid a month and a week after the quarter, so March's bonus was given to you on May 7! Human Resources lied and was extremely unprofessional, when challenged they offered no response or made up false information. My recommendation after being rehired and resigned, is to run in the opposite direction, and dont look back.

avatar
PENNYMAC Response
5d
Thank you for taking the time to share your review of your experience with us. We appreciate your candid perspective, and we're glad to hear you found value in our training programs and appreciated our daily office surroundings and pantry resources. We completely understand that compensation, benefit costs, and clear policy transparency are top priorities. We hear your frustrations regarding how starting pay adjustments, localized remote schedules, and incentive timelines can impact the day-to-day experience. We constantly review our compensation structures and internal procedures to ensure fairness, remaining competitive in the market while balancing our overall team dynamics. Regarding your feedback on our communication, we take your comments very seriously. Our company deeply values open communication, and it is never our intention to create an environment where an employee feels unheard or unsupported. We are continuously evaluating ourselves to learn from our employees' experiences and improve our management practices. Even if we cannot change the past, we are genuinely driven to influence the future. Because you have the unique perspective of having spent time with us across multiple tenures, we invite you to reach out directly to our corporate human resources team at employeerelations@pennymac.com. We want to listen carefully to your feedback and ensure your specific insights are thoroughly noted as part of our continuous improvement strategy. We value your time with the team, and we wish you the very best in your future endeavors.
See reviews by: Helpful|Rating|Date|All