Pros
It's fairly easy to get a job at PennyMac. If you are at the end the rope and having trouble making ends meet, then *and only then* consider a job at PennyMac. This is a destination of last resort.
Cons
I don't know where to begin. I'll start by saying there is absolutely no job security. People get fired or laid-off all the time on the whim of management. Stan and the other executives will fire anyone and everyone who is not in the C-suite if it will save them a dollar. The company swings from one focus to another depending on what can earn the executives the most money. One day they're focused on servicing, the next on technology, then commercial. Whole groups are turned over or transferred without warning. PennyMac has horrible benefits. They don't care about there employees so why provide benefits? Again, the only thing that matters is how much money can the executives make. Employees are costs to them. The place is basically an arena for unemployable Countrywide Home Loans / BofA alumni to reunite. Bonuses are promised and never paid. The 401K plan doesn't let you in until 1 year of service. Vacation, sick, and holiday time are the worst in class. All the employees joke about how awful it is on a daily basis. Laughing about it is the only way to get by.
