PENNYMAC reviews

3.0

46% would recommend to a friend

(1,563 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 1,563 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
1.0
Aug 12, 2025
Recommend
CEO approval
Business Outlook

Pros

Large footprint in the mortgage industry

Cons

Toxic management Poor processing format Employees are a disposable commodity

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PENNYMAC Response
11mo
We appreciate your honest feedback regarding your experience as a loan officer at Pennymac. We are disappointed to hear that we did not meet your expectations and that you had such a negative experience while working with us. Overall, we appreciate your feedback and are eager to learn from it to improve our company. We wish you all the best in your future endeavors and hope that you find a workplace that meets your expectations.
3.0
Mar 5, 2025
Recommend
CEO approval
Business Outlook

Pros

Health insurance premiums, while high, did not raise in cost year to year. They gave an additional 5 days of PTO this year. The office environment is pretty casual and friendly. Management tries to keep it fun with provided lunches & optional after work events. If you do your job, no one bothers you about being on your phone during calls.

Cons

There are no annual raises. It doesn't matter how well you perform yearly, your pay will never increase which means you are losing money the longer you work. They do not promote from within, I have been fully qualified yet rejected while the jobs are offered to external candidates. Pennymac decided to spend hundreds of millions of dollars sponsoring the Olympics one day after the CEO sold nearly 7,000 stock shares and a lot of their execs seem to have sold a lot of their stock in the months post election. The sick time is given as a bundle of 40 hours that replenishes annually on your anniversary, and you earn a little over 3 hours PTO every two weeks. The management is very anti-WFH and will rarely give you that option even on a holiday.

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PENNYMAC Response
1y
Thank you for taking the time to share your thoughts about your experience working at Pennymac. We understand feeling disappointed in your compensation package. We have been growing our total rewards package (tuition reimbursement, charitable and volunteer matching programs, wellness programs, and increased paid time off) to continue to increase the value we provide our employees in this very competitive environment. Please know that we take all feedback seriously and are committed to providing a positive working environment for all of our employees. We value your willingness to learn and hope that you will continue to apply the skills and knowledge acquired during your time at Pennymac in your future endeavors. As an organization, we are committed to building an inclusive work environment where our people can grow their careers and directly contribute to the growth of the company. Our commitment does not mean we are perfect, Our managers and leaders are human just like the rest of us, however, our commitment does mean that we are diligently striving to do better. Thank you for being a part of our journey to excellence,
2.0
Nov 15, 2024
Recommend
CEO approval
Business Outlook

Pros

People are nice over the office

Cons

No promote and no raise

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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 211 - 213 of 1,563 Reviews

Glassdoor has 1,679 PENNYMAC reviews submitted anonymously by PENNYMAC employees. Read employee reviews and ratings on Glassdoor to decide if PENNYMAC is right for you.