PENNYMAC reviews

3.1

47% would recommend to a friend

(1,564 total reviews)
avatar

David Spector

54% approve of CEO

48% positive business outlook

PENNYMAC has an employee rating of 3.1 out of 5 stars, based on 1,564 company reviews on Glassdoor which indicates that most employees have a good 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
Sep 27, 2021
Recommend
CEO approval
Business Outlook

Pros

Not talking to customers on the phone when doing emails Pays well Offers benefits Full 40 work week plus overtime available from time to time

Cons

- unsupportive management - poor training - expensive benefits - hard to get in contact with HR - QA system in place is crappy - old systems that freeze at least once a day - online resources tools are outdated and difficult to find an article you need to look at When you’re on board with research and correspondence doing emails, they initially put you on the customer service training, then they put you on the email training. Which is terrible because some processes are slightly different. And good luck trying to find an article on their internal knowledge base system. It’s old and runs really slow. Agents questions are put on a tracker so they’re not answered right away. Which doesn’t help a new agent at all, especially if there’s goals you need to meet daily. I wouldn’t recommend this place as an employer OR a lender.

3.0
Sep 27, 2021
Recommend
CEO approval
Business Outlook

Pros

As long as you hit your daily sales goals (e.g., getting the required minimum # of locks each day), then you can earn a lot of $ in this role.

Cons

Be prepared that the Loan Officer role at PennyMac is truly a sales job, first and foremost. Management takes an aggressive approach and pushes everyone for more sales every day.

3.0
Sep 27, 2021
Recommend
CEO approval
Business Outlook

Pros

So many different departments so you can learn new things. Decent benefits, could be better.

Cons

The only way to get a raise is to get promoted which doesn't happen often. I have friends that were there for years and got one raise. Not a ton of opportunity for growth. Some of their management shouldn't be management. Micro managing. You have to track everything you do and submit it daily which is a real pain.

Viewing 1207 - 1209 of 1,564 Reviews

Glassdoor has 1,680 PENNYMAC reviews submitted anonymously by PENNYMAC employees. Read employee reviews and ratings on Glassdoor to decide if PENNYMAC is right for you.