PENNYMAC reviews

3.0

46% would recommend to a friend

(1,561 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 1,561 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
Oct 5, 2024
Recommend
CEO approval
Business Outlook

Pros

Less red tape than most companies in regards to cross team problem solving and collaboration. Friendly and supportive management that let you play into your strengths and develop new skills.

Cons

Very pushy on the in office collaboration and resistance of remote and hybrid options. Culture is very college fraternity/sorority feeling. Very slow at pay raises. There are no yearly cost of living or merit raises only "market adjustments" every 2-3 years. Bonuses are capped at a certain percentage. So even if you do go "above and beyond" you get the same bonus as your slacker teammate. The mortgage industry is very feast or famine. I survived 2 layoffs at the beginning and then working a skeleton crews until rates got better. In busy season management tends to give all resources and energy to new hires and leaves more senior people to figure things out on there own.

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PENNYMAC Response
1y
Thank you for taking the time to share your thoughts about your experience working at Pennymac. We understand feeling disappointed in your compensation package. We have been growing our total rewards package (tuition reimbursement, charitable and volunteer matching programs, wellness programs, and increased paid time off) to continue to increase the value we provide our employees in this very competitive environment. Please know that we take all feedback seriously and are committed to providing a positive working environment for all of our employees. We value your willingness to learn and hope that you will continue to apply the skills and knowledge acquired during your time at Pennymac in your future endeavors. As an organization, we are committed to building an inclusive work environment where our people can grow their careers and directly contribute to the growth of the company. Our commitment does not mean we are perfect, Our managers and leaders are human just like the rest of us, however, our commitment does mean that we are diligently striving to do better. Thank you for being a part of our journey to excellence,
4.0
Oct 3, 2024
Recommend
CEO approval
Business Outlook

Pros

Pay during the boom !

Cons

Long hours, a bit of a micro manage environment.

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PENNYMAC Response
1y
Thank you for taking the time to share your thoughts and provide feedback as it helps us to evaluate and improve our work environment for all employees. We are committed to providing a positive and inclusive work environment and take your comments seriously. We encourage our employees to communicate with their supervisors or human resources if they have any issues or suggestions for improvement. Based on your comments, I encourage you to reach out directly to our human resources team so that we can better understand the situation. Ultimately, we appreciate the opportunity to learn and grow, and we hope that we are addressing any concerns so we can improve the overall work experience for everyone. Please feel free to reach out to us directly at employeerelations@pennymac.com if you would like to provide more specific feedback or if you would like to connect with one of our human resources team members.
3.0
Sep 25, 2024

Upper Management is too much

Anonymous employee
Recommend
CEO approval
Business Outlook

Pros

The people here are great and mostly all of us get along.

Cons

Upper management has turned into control freaks. Employees are judged and viewed based on numbers on a screen but not the quality of their work. Most departments have to report to the office every day. Some still have hybrid, but if you utilize their hybrid schedule you will get scolded and will have it used against you if you want a promotion or raise (not that they’d give you one anyways). The company has a whole has a “control” problem where they have this old school mentality of wanting to control people. They will find every excuse in the book to delay and put off raises/promotions, but will swing and change an entire organization over night. They will constantly tell you why they “can’t” do things that would benefit the employee, but will change the entire dynamic of the department on a moments notice when it does t benefit the employees.

avatar
PENNYMAC Response
1y
Thank you for taking the time to share your thoughts and provide feedback as it helps us to evaluate and improve our work environment for all employees. We are committed to providing a positive and inclusive work environment and take your comments seriously. We encourage our employees to communicate with their supervisors or human resources if they have any issues or suggestions for improvement. Based on your comments, I encourage you to reach out directly to our human resources team employeerelations@pennymac.com so that we can better understand the situation. Ultimately, we appreciate the opportunity to learn and grow, and we hope that we are addressing any concerns so we can improve the overall work experience for everyone. Please feel free to reach out to us directly at employeerelations@pennymac.com if you would like to provide more specific feedback or if you would like to connect with one of our human resources team members.
Viewing 133 - 135 of 1,561 Reviews

Glassdoor has 1,676 PENNYMAC reviews submitted anonymously by PENNYMAC employees. Read employee reviews and ratings on Glassdoor to decide if PENNYMAC is right for you.