PENNYMAC reviews

3.0

46% would recommend to a friend

(1,562 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 1,562 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
Apr 23, 2024

MLO

Recommend
CEO approval
Business Outlook

Pros

Processing turn times Inbound leads

Cons

Very Mico Vacation bids at the beginning of the year

4.0
Apr 18, 2024
Recommend
CEO approval
Business Outlook

Pros

The pay as a LO is great. Many loan officers, including myself, left when the market shifted but have since returned solely because of the compensation.

Cons

You sacrifice a lot for the money. Minimal work/life balance. This is a call center so it's almost impossible to take time off if something comes up last minute and they allow the bare minimum of PTO, only 2 weeks a year.

1.0
Apr 16, 2024
Recommend
CEO approval
Business Outlook

Pros

I liked the culture, most people were friendly

Cons

I worked there for only a month, and wasn't able to even start doing my job for 2 weeks due to bad training and no access to the data that I required. The team I worked with was on a hybrid schedule, so they worked M-F in office, then Th- Fri were from home. I was only trained a couple of hours a day for the first 3 days I was there, then left to figure it out. This means figuring out a new system, new processes, etc. The Processes and Procedures was horribly written and left out a lot of important material, especially if you got an Error message which happened a lot with the horrible system they use, so on Thursdays and Fridays I tried using them when I was finally given work to do, but made mistakes due to the P/P's missing a whole lot of information. Then if I wanted to ask a question I got dirty looks and slow answers to my questions. When I was let go I still didn't have access to all of the databases that I needed, (it took them 2 weeks just to get me a phone) so I don't feel like they even gave me a chance to prove myself, and the team lead seemed like she didn't want to help or answer any questions. But then when I made a mistake she was all over me for it, and not in a positive way. I appreciate feedback when it is constructive, but they way she did it was demeaning and demoralizing. I was moving work along by the 3rd week and completing the tasks they gave me, and doing my best to figure it out on my own, but that wasn't enough I guess. Some of they other teams seemed to work together, this team didn't want to help or work as a team. If I asked the manager for help, which wasn't often because she was so busy, I would get a patronizing look and answer, like " you should know this". Well, if I would have had real training and P&P's that were written well, I wouldn't have to be asking you questions. would I?

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PENNYMAC Response
2y
Thank you for taking the time to write an honest review of your experience working at Pennymac. We are glad to hear that you found the people and the culture. However, we are sorry to hear that overall it was not the best fit for you. Your feedback will be taken into consideration and used as a means for improvement in the future. Thank you for sharing your thoughts and insights with us.
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Glassdoor has 1,677 PENNYMAC reviews submitted anonymously by PENNYMAC employees. Read employee reviews and ratings on Glassdoor to decide if PENNYMAC is right for you.