PENNYMAC reviews

3.0

45% would recommend to a friend

(1,560 total reviews)
avatar

David Spector

51% approve of CEO

46% positive business outlook

PENNYMAC has an employee rating of 3.0 out of 5 stars, based on 1,560 company reviews on Glassdoor which indicates that most employees have an average working experience there. The PENNYMAC employee rating is in line with the average (within 1 standard deviation) for employers within the Financial Services industry (3.7 stars).

Reviews by job title

2K reviews
1.0
May 31, 2026

Low Pay. Location.

Recommend
CEO approval
Business Outlook

Pros

Snacks and you can wear jeans.

Cons

LOW PAY even if you have 20 years of experience and educated. Location. Commute. NO Hybrid options at all unless you came during a specific time period of the company or if you are a manager. If you are an African American be aware that you will be micromanaged more than anyone else. Benefits are expensive and unaffordable.

avatar
PENNYMAC Response
1d
Thank you for taking the time to share your candid feedback after your time as a Mortgage Closer with our Tampa team. We are sorry to hear that your experience with us was not a more positive one. We acknowledge your feedback regarding productivity monitoring, compensation structures, and the current parameters of our hybrid work environment. Furthermore, we want to address your comments directly: Pennymac unequivocally condemns any form of racism or unequal treatment within our company. We are deeply committed to maintaining an inclusive, fair, and supportive culture where every member of our team is treated with the respect they deserve. Because we take these matters seriously, we want to ensure we fully document your specific insights. We invite you to reach out to us directly at employeerelations@pennymac.com so we can listen to your perspective and ensure your concerns are properly noted by our team. Thank you for your time with the company, and we wish you all the best in your future endeavors.
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.
3.0
May 22, 2026

Connected team, but low pay and slow growth

Anonymous employee
Recommend
CEO approval
Business Outlook

Pros

The team is very connected

Cons

Low pay and slow growth

avatar
PENNYMAC Response
4w
Thank you for taking the time to share your thoughts and provide feedback about your experience working at Pennymac. We are delighted to hear that you have found our team to be so connected—fostering a supportive, collaborative environment is a crucial aspect of our culture, and we are glad this is reflected in your daily work. We understand feeling disappointed regarding compensation and the pace of career growth. We have been growing our total rewards package (tuition reimbursement, charitable and volunteer matching programs, wellness programs, and increased paid time off) to continue to increase the value we provide our employees in this very competitive environment. As an organization, we are committed to building an inclusive work environment where our people can grow their careers and directly contribute to the growth of the company. Our commitment does not mean we are perfect, but it does mean that we are diligently striving to do better. If you ever wish to share more specific feedback or connect with a member of our team, please feel free to reach out to us at employeerelations@pennymac.com. Thank you for being a part of our journey to excellence!
Viewing 7 - 9 of 1,560 Reviews

Glassdoor has 1,675 PENNYMAC reviews submitted anonymously by PENNYMAC employees. Read employee reviews and ratings on Glassdoor to decide if PENNYMAC is right for you.