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
3.0
Oct 19, 2024
Recommend
CEO approval
Business Outlook

Pros

Learn the mortgage business and process of closing loans

Cons

Commissions are not very high and when the rates are high, very hard to close business.

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PENNYMAC Response
1y
Thank you for taking the time to provide your feedback on your experience. We appreciate your willingness to share your thoughts and concerns. We also hear your concerns about the availability and support of our managers. We understand that their workload has increased, and we apologize if this has affected their ability to provide the necessary guidance and assistance. We will address this issue and work towards finding a solution that ensures our managers are able to support their teams effectively. In terms of compensation, we understand your frustration and we apologize if you feel that the pay does not reflect your hard work. We constantly review our compensation packages to ensure they remain competitive within the industry. However, we will take your feedback into consideration and evaluate any potential adjustments that may be necessary. We appreciate your dedication and willingness to learn. Your feedback is valuable to us as we strive to create a positive and rewarding work environment for all our employees. If you have any further suggestions or concerns, please do not hesitate to reach out to us. Thank you once again for your feedback.
2.0
Oct 15, 2024

Not a good employer

Recommend
CEO approval
Business Outlook

Pros

Not applicable as no pros

Cons

Poor management, absolutely ridiculous no yearly raises or bonus

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PENNYMAC Response
1y
Thank you for taking the time to provide your feedback on your experience. We appreciate your willingness to share your thoughts and concerns. We understand that you feel the pay for your hard work is not commensurate with the increase in job duties. We acknowledge that this can be frustrating and demotivating. We want to assure you that we value your contributions and recognize the effort you put into your work. Regarding promotion opportunities, we understand your disappointment. We strive to provide growth opportunities for our employees and we apologize if you feel that this has not been the case. We will take your feedback into consideration as we continue to evaluate our career advancement programs. We also hear your concerns about the availability and support of our managers. We understand that their workload has increased, and we apologize if this has affected their ability to provide the necessary guidance and assistance. We will address this issue and work towards finding a solution that ensures our managers are able to support their teams effectively. In terms of compensation, we understand your frustration and we apologize if you feel that the pay does not reflect your hard work. We constantly review our compensation packages to ensure they remain competitive within the industry. However, we will take your feedback into consideration and evaluate any potential adjustments that may be necessary. We appreciate your dedication and willingness to learn. Your feedback is valuable to us as we strive to create a positive and rewarding work environment for all our employees. If you have any further suggestions or concerns, please do not hesitate to reach out to us. Thank you once again for your feedback.
5.0
Oct 14, 2024

Review

Recommend
CEO approval
Business Outlook

Pros

Every department I worked for provided me with the necessary training

Cons

Nothing bad to say, I left because I need to keep growing

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PENNYMAC Response
1y
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. We understand the challenges that the mortgage lending industry can present, particularly when it comes to external factors such as interest rates. Nonetheless, we appreciate your candid feedback and have forwarded your comments in the hope to improve as we strive to provide an environment that supports engagement and growth. Thank you for being a part of our team.
Viewing 127 - 129 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.