PENNYMAC reviews

3.0

46% would recommend to a friend

(1,561 total reviews)
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David Spector

52% approve of CEO

46% positive business outlook

PENNYMAC has an employee rating of 3.0 out of 5 stars, based on 1,561 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
Jun 29, 2024
Recommend
CEO approval
Business Outlook

Pros

Good compensation and centrally located offices

Cons

Very little room for advancement

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PENNYMAC Response
1y
Thank you for taking the time to share your thoughts about your experience working with our company. We appreciate all forms of feedback, whether it be positive or negative as it allows us to improve and continue providing valuable services to our employees and clients. We are glad to hear that you found the working environment to be beneficial for you. We take great pride in ensuring that our work environment is conducive to productivity and fosters a sense of community among our team members. We understand that compensation is an important factor in any employment decision, and we appreciate your feedback regarding this matter. We strive to provide fair compensation to all of our employees, and we regularly review our compensation policies to ensure that we remain competitive in the market. We understand meeting strict SLA's can be a challenging aspect of the job. The mortgage industry is not only highly competitive, but it is also strictly regulated and often Pennymac's high standards are required to provide a superior level of support to our customers as well as remain compliant. However, your feedback is critical to our success and we will forward your comments to share your perspective so that we can improve our processes while maintaining our high standards of service.
4.0
Jun 20, 2024
Recommend
CEO approval
Business Outlook

Pros

Office, boss, learning, coffee, people

Cons

no remote, annoying, tedious, no room for growth, underpaid

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PENNYMAC Response
2y
Thank you for taking the time to share your thoughts and provide feedback as it helps us to evaluate and improve our work environment for all employees. We are committed to providing a positive and inclusive work environment and take your comments seriously. We encourage our employees to communicate with their supervisors or human resources if they have any issues or suggestions for improvement. Ultimately, we appreciate the opportunity to learn and grow, and we hope that we are addressing any concerns so we can improve the overall work experience for everyone. Please feel free to reach out to us directly at (employeerelations@pennymac.com) if you would like to provide more specific feedback or if you would like to connect with one of our human resources team members.
4.0
Jun 18, 2024
Recommend
CEO approval
Business Outlook

Pros

Working at PennyMac has been one of the most rewarding professional experiences I’ve ever had. The environment is marked by a high level of professionalism and courtesy. The team, from upper management to entry-level employees, is composed of genuine and kind individuals. The company is situated in a prime area with a reasonable commute, enhancing the overall work-life balance. During the COVID lockdowns, PennyMac demonstrated its commitment to employee well-being by providing care packages and thoughtful gifts, which were a nice touch. Management is highly accessible and possesses a diverse range of expertise, always ready to offer guidance. I appreciate the company’s metrics-driven approach, which fosters transparency and clear expectations. I am enthusiastic about the prospect of returning to PennyMac after completing my degree and look forward to advancing my career here with higher compensation.

Cons

However, there are some areas where improvement is needed. Upper management often seems ensnared in bureaucratic processes that can stifle innovation and feedback from lower-level employees. On several occasions, I proposed logical enhancements to sales tactics and scripts that, despite their potential, were overlooked due to my position within the company hierarchy. The company’s suggestion portal offers a modest $50 reward for ideas, which feels inadequate given the potential impact of some proposals. Although there are opportunities for upward mobility, navigating the path to raises and promotions requires significant effort and self-advocacy. Addressing these challenges could make PennyMac an even better place to work.

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PENNYMAC Response
2y
Thank you for taking the time to share your thoughts on our company. We appreciate your honest feedback along with the pros and cons you mentioned. First and foremost, we are glad to hear that you believe our company is always striving for growth, both in terms of our products and our professional growth. Regarding the cons you have mentioned, we fully accept your feedback and understand that communication is an area that needs improvement. We agree that we have more to do when it comes to informing employees about the benefits we offer. We appreciate your suggestion that we can internally market it better, and we are committed to doing so. Our company values open communication, and we take your advice seriously. We will continue to listen to our employees' feedback and work towards improving our communication channels. Once again, thank you for your honest feedback, and we look forward to continuing to learn and grow with you.
Viewing 172 - 174 of 1,561 Reviews

Glassdoor has 1,676 PENNYMAC reviews submitted anonymously by PENNYMAC employees. Read employee reviews and ratings on Glassdoor to decide if PENNYMAC is right for you.