Pros
PennyMac's Servicing leadership are the best in the business! They come with tons of domain experience, and are strategically growing PennyMac's Servicing portfolio. Steve Bailey is super-approachable, and the leaders in his span are very involved and always available. I was lucky enough to work for Karen Abram, who is truly one of the best people leaders I've ever met.
PennyMac has a great culture. In the Servicing Org, there are quarterly employee engagement events to recognize top performers and do fun things! At a department level, there were monthly team lunches, etc. Speaking of lunches, PennyMac has an on-site cafeteria (PennyPantry) at their Fort Worth and Moorpark offices, which make it super- convenient to grab breakfast, lunch, snacks, etc. PennyMac also has an on-site gym with locker room\ showers at the Fort Worth office.
The benefits package offered for health\ dental\ vision are comparable with industry norms. PennyMac offers a 401k savings plan and matches dollar for dollar up to 4%. PennyMac's compensation package is fair, and in line with industry standards. PennyMac pays for performance, and their bonus programs and merit increases are consistent with that philosophy. If you're used to "dialing it in" everyday at work, PennyMac is not the place for you. However, if you're a bright, humble, and hard working person, you'll do very well in the PennyMac culture, and be rewarded accordingly. PennyMac offers TONS of opportunities for exposure to Senior Leadership, and TONS of opportunities to get involved and do meaningful, impactful work. One of PennyMac's core principles is to be an agent of change. PennyMac encourages it's team members to speak up if they have ideas for process improvement, cost savings, loss reduction, or to generate revenue.
With PennyMac being an up-and-coming MAJOR player in the mortgage space, now is a GREAT time to get in, and lay down some roots. If you're considering joining, do it, you'll be glad that you did!
Cons
The ONLY areas for opportunity are:
Tech stack is outdated. There are projects underway currently to upgrade a lot of this, though.
Vacation time off is not in line with industry standards. Coming in, you get 2 weeks\ year for FVP and below. You get 3 weeks\ year starting at 5 years of service.
