Great job with great income potentials but processing issues are frustrating - Loan Officer PENNYMAC Employee Review

4.0
Jan 12, 2022
Recommend
CEO approval
Business Outlook

Pros

- high compensation - satisfying work - the company is growing quickly and investing into things like technology - my manager supports me and helps me when I need it. - the job is pretty simple once you get it down. It’s a sales job so the main difficulty is keeping your energy up. Once you’ve done it for a few months, you will have a pretty good grasp of the work itself

Cons

- appraisal/title issues delay closings and the compensation is based on monthly fundings. It’s a tiered systems so it’s frustrating when your files are pushed back to the next month sometimes causing you to miss a higher pay tier - operations and underwriting teams sometimes mess up loans in processing. Leads are overall excellent but the new “warm transfer” system is quite frustrating and makes the leads harder to convert. Luckily most leads are not provided this way and are simply transferred over

Explore other reviews about PENNYMAC

5.0
Feb 23, 2026
Anonymous contractor
Recommend
CEO approval
Business Outlook

Pros

good opportunity and meeting good people

Cons

nothing is there to say

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PENNYMAC Response
4mo
Thank you for taking the time to provide your honest feedback about your experience with our company. We are delighted to hear that you enjoyed working with us in your capacity and appreciated the friendly work surroundings. Indeed, we believe that a positive work/life culture is a crucial aspect of any successful business, and we are glad that you recognized our efforts in this regard. Thank you for being a part of our team and we look forward to continuing our positive working relationship with you.
2.0
Jun 17, 2026
Recommend
CEO approval
Business Outlook

Pros

Training was always provided and you were never rushed to learn. Snacks were given on a daily basis. You had a Penny Pantry in the building that offered free coffee/Soda and a variety of food selections at a resonable price.

Cons

Low paying position at $22.00 an hour to start with no increases. The department couldnt find other Loan Specialist for the longest time and then increased the position to $27.oo an hour in an effort to attract more people. Four of the employees that were already there for a few years in the department were allowed to work remotely on Thursdays and Fridays, every new Employee had to work on site. Bonus was paid a month and a week after the quarter, so March's bonus was given to you on May 7! Human Resources lied and was extremely unprofessional, when challenged they offered no response or made up false information. My recommendation after being rehired and resigned, is to run in the opposite direction, and dont look back.

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PENNYMAC Response
2w
Thank you for taking the time to share your review of your experience with us. We appreciate your candid perspective, and we're glad to hear you found value in our training programs and appreciated our daily office surroundings and pantry resources. We completely understand that compensation, benefit costs, and clear policy transparency are top priorities. We hear your frustrations regarding how starting pay adjustments, localized remote schedules, and incentive timelines can impact the day-to-day experience. We constantly review our compensation structures and internal procedures to ensure fairness, remaining competitive in the market while balancing our overall team dynamics. Regarding your feedback on our communication, we take your comments very seriously. Our company deeply values open communication, and it is never our intention to create an environment where an employee feels unheard or unsupported. We are continuously evaluating ourselves to learn from our employees' experiences and improve our management practices. Even if we cannot change the past, we are genuinely driven to influence the future. Because you have the unique perspective of having spent time with us across multiple tenures, we invite you to reach out directly to our corporate human resources team at employeerelations@pennymac.com. We want to listen carefully to your feedback and ensure your specific insights are thoroughly noted as part of our continuous improvement strategy. We value your time with the team, and we wish you the very best in your future endeavors.
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