PENNYMAC reviews

3.0

46% would recommend to a friend

(1,564 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 1,564 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
May 25, 2023

Stay away!

Anonymous employee
Recommend
CEO approval
Business Outlook

Pros

Save the stress and pressure. Go elsewhere

Cons

Just go elsewhere to work

3.0
May 14, 2023
Recommend
CEO approval
Business Outlook

Pros

Great mid-level management that truly cares about you. They are pretty flexible with you within reason when you have urgent matters come up when life happens. They cater in lunch from time to time and do employee appreciation events. Cafeteria with awesome food options at an affordable cost to employees.

Cons

Very segmented workflows and processes comparatively to other companies which results in terrible pay. This also slows down your production drastically which makes it difficult to hit quotas that are necessary to bonus. The pay is way below industry standards and upper management is the problem, like above the VP, etc. They hire people with decades of experience at very entry level cost. New loan operating system for some of the departments has a lot of kinks, but they are actively working on this. Training and development of new hires needs some work, but they are also actively working on it. The bonus structure is abysmal too, way over complicated and is paid quarterly. They cannot keep educated overqualified candidates because they are underpaying so much, so it’s a revolving door when those employees find better paying jobs.

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PENNYMAC Response
3y
Thank you for taking the time to provide your feedback on our company. We appreciate your honesty and will use your comments to improve our operations and address areas of concern. We are thrilled to hear that you have had a positive experience with your immediate management. We take great pride in ensuring that our employees feel supported and cared for, and it is encouraging to know that this effort has not gone unnoticed. We understand the importance of flexibility when unexpected situations arise, and we are committed to accommodating our employees to the best of our abilities. However, we are sorry to learn that you have found our processes and pay unsatisfactory. We acknowledge that these issues can have a significant impact on productivity and employee satisfaction. Rest assured that we are actively working on streamlining our workflows and processes to create a more efficient and cohesive work environment. We understand your frustrations with some of your experiences here. We are committed to offering fair compensation to attract and retain talented individuals. Additionally, we are actively working on enhancing the training and development programs for new hires to ensure they have the necessary support to succeed in their roles. We appreciate your insightful advice to our management team. We understand the importance of empowering our managers and allowing them more autonomy in decision-making. We are actively working on creating a culture of trust and collaboration, and your feedback reinforces the need for us to continue in this direction. Lastly, we take your point about remaining competitive with other lenders in terms of compensation. We are committed to regularly reevaluating our offerings and making adjustments as necessary to attract and retain top talent. We appreciate your feedback in highlighting the impact this has on employee turnover, and we are dedicated to addressing this issue. Thank you again for your sincere review. Your willingness to provide constructive feedback is greatly appreciated as we work towards creating a better working environment for our employees. If you wish further discussion, please email us at employeerelations@pnmac.com.
1.0
Mar 28, 2023

Worst place to work

Recommend
CEO approval
Business Outlook

Pros

The only pros for this job is when they offered unlimited overtime, other than that nothing.

Cons

Careless upper management, no work life balance, too many unkept promises. No advancement, no matter how hard you work, 2 faced gossiping people, similar like high-school drama

Viewing 226 - 228 of 1,564 Reviews

Glassdoor has 1,680 PENNYMAC reviews submitted anonymously by PENNYMAC employees. Read employee reviews and ratings on Glassdoor to decide if PENNYMAC is right for you.