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
Sep 21, 2021

Discriminatory leadership

Anonymous employee
Recommend
CEO approval
Business Outlook

Pros

If there were any Pro's, there wouldn't be such a high turnover.

Cons

If you wish to advance, this is not the place for you. Unless part of the click, you will not go anywhere. Higher ups take pleasure in being demeaning and condescending - especially to minorities. The CEO is aware and promotes those that have been abusive. Complain to HR and you will have a mark against you.

1.0
Aug 13, 2021

HORRIBLE

Recommend
CEO approval
Business Outlook

Pros

Ot and used to get food.

Cons

My my my. Let me start with the interview were they lie and say you'll get some call here and there. Complete lie. The inbound calls are horrendous. No company should be selfish to have a system set up like this craziness but then again they care about money. By any means possible to get it. Management are questionable. Training... what training?? 🤨 They make sure you are at that seat taking the back to back calls. Ohhh don't have an escalate call, some managers dodge the messages 🙄 so that they don't have to deal and help with the issue. But in EVERY MEETING you are scolded as a child what other debts should be doing it All falls on you at the end. Management are quick to cover the other debts lack of work duty, which is shameful in all their parts Front liners are UNDERPAID for the craziness faced on the daily basis Don't get me started on the bonus, lmaoooo the plan they have in place.

1.0
May 11, 2021

Crazy Metrics High turn over

Recommend
CEO approval
Business Outlook

Pros

Cool colleagues. Clean bathrooms. Good training.

Cons

One of the highest turnovers in the industry. I think their goal is to have a high turnover so you work yourself to death trying to meet their metrics only to get fired or resign and walk away from your pipeline so they don't have to pay you. Terrible upper management who puts pressure on lower management and in turn all others suffer. Unattainable metrics (everyone has had a write-up at some point at this company). As your call #'s go up, your call-to-app will go down because it's impossible to do an application on people who were transferred to you who have no intention of refinancing. As your call-to-app goes down, you will receive a write-up. If you increase the number of applications you take to increase those numbers (doing applications on people who you know the loan won't close), your call to app will go up but your app to funding will go down. Micromanaged to death. No work-life balance. I have a friend who still works there. He is in the top 15 Loan Officers by funding and currently has a write-up. He has to hear his manager complain on a daily basis about his call volume. Nothing anyone does is good enough at this company. They care more about metrics than the bottom line. This goes to show, even if your end goal is to close many loans, you still aren't good enough. Their goal is to get you to meet their metrics, not close loans. While I was there (one of the only females), I had a perverted manager who always stood really close and when I was sitting down he'd lunge his crotch in my face when my head was at his waist level.

Viewing 256 - 258 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.