PENNYMAC reviews

Upper management is completely out of touch. They wont change goals in a changing market which means you will get paid a lot less when things get tough. Specifically if you don't fund more than 4 loans they will take 50% of your pay check as punishment. One month the average for 120 employees was 5 fundings which means they only give you 90% of your earnings. Additionally, if you're a new hire and you don't meet their unrealistic goals the "bonus" they give you will have to be paid back too. It would be a lot easier to stomach if everyone else in the process wasn't salaried so they don't care if your loans fund. Other than that, you're not allowed to work from home but they encourage working OT at home. Being a call center, you can't make phone calls using personal Bluetooth headsets as it's a "security issue" but I can connect to 10 different TVs on my phone. Only 2 weeks of PTO which is discouraged, and all benefits have been taken away. We used to get food on fridays and have GrubHub plus but now we get nothing and we've recently been told no more coffee cups will be provided and we need to bring our own.

They pay is atrocious, not a living wage ($20/hr) there were no “merit increases” Y.O.Y and only quarterly bonus that are tiny. They told people there will be a mandatory return to site and it looked like maybe 30% - 40% actually listened. They will tell you they want people to work in the office for the culture. There is no culture, most people working there are either afraid to lose their job or to scared to quit. People litterally sit at their desks right now and do nothing because mortgage environment is so slow because interest rates. Only the people in your immediate group / team are the people you will naturally have communication with unless you are incredibly extroverted and force your way into other groups / people. There are NO team building / company happy hours.