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
4.0
Sep 6, 2023
Recommend
CEO approval
Business Outlook

Pros

Hybrid Work Schedule. Relaxed Culture, and absorbing a lot of market share

Cons

Management is slow to enact changes that middle or front line manager give feedback on. Typical corporate glut or management for the sake of management.

1.0
Sep 4, 2023

Poor Pay for your hard work

Recommend
CEO approval
Business Outlook

Pros

Hybrid work schedule . Work from home

Cons

Increase job duties and no increase in pay. No promotion opportunities. Managers are not helpful, as they are overwhelmed and swamp with work.

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PENNYMAC Response
2y
Thank you for taking the time to provide your feedback on your experience. We appreciate your willingness to share your thoughts and concerns. We understand that you feel the pay for your hard work is not commensurate with the increase in job duties. We acknowledge that this can be frustrating and demotivating. We want to assure you that we value your contributions and recognize the effort you put into your work. Regarding promotion opportunities, we understand your disappointment. We strive to provide growth opportunities for our employees and we apologize if you feel that this has not been the case. We will take your feedback into consideration as we continue to evaluate our career advancement programs. We also hear your concerns about the availability and support of our managers. We understand that their workload has increased, and we apologize if this has affected their ability to provide the necessary guidance and assistance. We will address this issue and work towards finding a solution that ensures our managers are able to support their teams effectively. In terms of compensation, we understand your frustration and we apologize if you feel that the pay does not reflect your hard work. We constantly review our compensation packages to ensure they remain competitive within the industry. However, we will take your feedback into consideration and evaluate any potential adjustments that may be necessary. We appreciate your dedication and willingness to learn. Your feedback is valuable to us as we strive to create a positive and rewarding work environment for all our employees. If you have any further suggestions or concerns, please do not hesitate to reach out to us. Thank you once again for your feedback.
1.0
Aug 31, 2023

Profit over people

Recommend
CEO approval
Business Outlook

Pros

Paycheck Job security Co-workers Paid Time Off (when you're not forced to use it for regional emergencies)

Cons

With a hurricane approaching, I was shocked that my employer expected, if not demanded, that I come into the office or use Paid Time Off. The local government issued mandatory emergency evacuations and told people to stay home. The US government suspended mail service. Bridges in the Tampa Bay area were closed to traffic, as well as city streets. Yet Pennymac told us to ignore these orders and come into the office. We are constantly told how important employees are, but we only seem to matter when we're closing loans, not when you and your family's safety is on the line. People forced to come into the officer found elevators out of service for "safety" reasons. We've been told repeatedly to go online and vote for Pennymac as a "best place to work" but a best place to work doesn't prioritize loan processing over human lives during a hurricane.

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PENNYMAC Response
2y
We are sorry to hear about your experience in our workplace. We appreciate you sharing your feedback and assure you that it is always our intention to create a work environment where our employees feel valued. Employee safety, security and well-being are top priorities for us. We are also very mindful of making sure we balance the needs of all, which is why we were carefully monitoring the progress of Hurricane Idalia and sent regular updates to employees and managers regarding any impacts to the Tampa site, as well as steps to take if employees were affected by adverse travel conditions, school closures or other circumstances that would preclude them from coming into the office or working remotely for the day. If you had a specific situation that was not aligned with this approach, please reach out to employee relations at : employeerelations@pennymac.com to discuss.
Viewing 301 - 303 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.