PENNYMAC reviews

3.0

44% would recommend to a friend

(1,560 total reviews)
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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
2.0
Dec 15, 2024

Not for everyone

Anonymous employee
Recommend
CEO approval
Business Outlook

Pros

Not much to share here

Cons

Negative and passive aggressive leadership

1.0
Nov 20, 2024
Recommend
CEO approval
Business Outlook

Pros

Lunch purchased for office at least once a week. Nice office space. Good location where office is located.

Cons

Other Loan Officers steal loans from one another. Four months after starting they lowered everyone's pay company wide. Terrible processing department, People with VP titles who do not have work experience or life experience and it shows. Training is terrible. My class had a guy who has never trained a day in his life and only in the mortgage business for a year. Had 60 loans in pipeline and only ten closed, caught underwriting and processing turning down loans incorrectly, Purposely delaying loan closings by a few days to prevent people from making high bonus, several questionable practices and in the State of TN commission is supposed to be paid within 30 days, you're lucky if you see that money in three months. Way too many emails, financial software that is so outdated and not conducive to doing the job.

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PENNYMAC Response
1y
Thanks for sharing your feedback. We appreciate your honesty and are sorry to hear about your negative experience. We understand the importance of management support during challenging times. We are committed to reviewing our systems to ensure our management team can effectively guide and assist employees. Thank you again for sharing your thoughts. We value your feedback and will use it to improve our management practices and overall employee experience.
5.0
Nov 15, 2024

ok company

Recommend
CEO approval
Business Outlook

Pros

401 k Good office environment Health plan

Cons

Not competitive pay Too isolated location

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PENNYMAC Response
1y
Thank you for your review of Pennymac. We appreciate your feedback and are thrilled to hear that you had a positive experience with your coworkers. Creating a great work environment is something we strive for, and we are glad that it was reflected in your time with us. We understand your concern about the lack of raises and how it might impact you. We want to assure you that we value our employees and their hard work. While raises aren't always available, we are open to feedback and continually exploring ways to improve our employees' overall compensation package. We believe in creating fair and rewarding opportunities for our staff as they grow with us. We are committed to promoting a culture of learning and development where employees can evolve and advance their careers. Once again, we appreciate your sincere feedback and willingness to share your thoughts. Your review helps us identify areas where we can improve and ensure that we continue to provide a positive and supportive work environment for our employees. Should you have any further suggestions or concerns, please don't hesitate to reach out.
Viewing 115 - 117 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.