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      PENNYMAC

      Engaged Employer

      PENNYMAC reviews

      3.0

      46% would recommend to a friend

      (1,563 total reviews)
      avatar

      David Spector

      52% approve of CEO

      46% positive business outlook

      Ratings by demographic groups

      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
      Sep 12, 2024

      Unfair treatment

      Mortgage underwriter
      Recommend
      CEO approval
      Business Outlook

      Pros

      Not many pros I can think of.

      Cons

      I work on an underwriting team of 15. I took a promotion and only got a pay increase of $1000 from my non underwriting role. Also the 13 other underwriters get to be fully remote and due to a hot head VP, two of us have to work In the office. We have brought up to him multiple times how it isn’t fair to make the 2 of us office employees when the other 13 are fully remote and his response is he doesn’t care, it is what it is so get over it. Our direct supervisor is remote and we don’t even have anyone to report to so we are essentially alone at the office.

      avatar
      PENNYMAC Response
      1y
      Thank you for sharing your review and bringing this to our attention. We understand your experience was not ideal. We are actively working to cultivate a workplace that supports growth and well-being. We believe in continuously improving how we support our employees, engage with them, and lead effectively. Your feedback is valuable as we strive to enhance our impact.
      1.0
      Sep 11, 2024

      Poor upper management

      Annnonymous
      Recommend
      CEO approval
      Business Outlook

      Pros

      Not a lot I can remember, maybe the fake friendly coworkers who always complain and badmouth others behind their back?

      Cons

      Very cheap company and old schooled upper management. They forced 5 days back to office and CFO sent out a serious email about it. It turned out to be a big joke because on the same floor some team just don’t need to follow the rule and keep doing hybrid work model. Management’s incapable to explain and justify large amount of exceptions caused confusion and unfairness feeling with in the teams that have to go back 5 days.

      avatar
      PENNYMAC Response
      1y
      Thank you for taking the time to share your thoughts and provide feedback. We appreciate you bringing this to our attention as it helps us 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 open communication and are always looking for ways to improve our daily procedures while ensuring compliance and fairness. We appreciate the opportunity to learn and grow from your feedback so we can enhance the overall work experience for everyone.
      1.0
      Aug 27, 2024

      Absolutely horrible management and lack of accountability by upper management

      Analyst
      Recommend
      CEO approval
      Business Outlook

      Pros

      Benefits are decent that’s about all this place has going for them

      Cons

      Poor management and retaliation when folks speak up about said poor management, by targeting performance instead of implementing positive management changes. Lack of training when asked by employees Excuses of being “too busy” to be efficient at management tasks or reviews Never expect a pay raise here it’s not in their company policy to offer annual increases on base pay and are very low on base pay offerrings Always expect to lose your bonus as they will find every reason, that is not a sale-able issue, to refrain from paying you for your hard work.

      avatar
      PENNYMAC Response
      1y
      We wanted to take the time to respond to your last review. It seems your experience was frustrating and left you with a bad feeling. Although it is not the norm, we understand it was your experience. I would like to encourage you to reach out to us directly employeerelations@pennymac.com so that we can understand more about your situation. Even if we cannot change the past we can influence the future. We are working hard to build a work environment that encourages growth and promotes wellness (mental, health, and financial). Growing as a company does not always mean size, it also means growing our ability to provide meaningful benefits, engaging experiences, and impactful leadership. We are continuously evaluating ourselves to improve our impact on our employees, customers, and shareholders. Based on your feedback we missed the mark, if you are willing, please reach out directly to us at employeerelations@pennymac.com so that we can better understand your specific situation and incorporate our feedback into our improvement strategy.
      Viewing 214 - 216 of 1,563 Reviews
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      ReviewsPENNYMAC 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.