Pros
My direct manager was fantastic, and the onsite facilities were pretty good. Which is handy, considering they practically wanted you to live there.
Cons
I predict that PennyMac will have severe issues within the next 2 years similar to Countrywide. Upper management has an extremely adversarial stance against all internal governance efforts; to the point that they browbeat you into removing findings from reports. They are compensated for not having findings, so rather than work on fixing anything, they just fight and whine until they are removed off reports. Everyone loses when that happens. On a personal note they expected 60 hrs a week to be normal starting point, so a normal work-life balance was impossible; and I had recently been laid off my prior job so they brought me in at 2 levels lower and a severely cut paycheck because they knew they could take advantage of my situation. It wasn't until I resigned, and they realized just how much I brought to the table, that they attempted to bring me back to a level near what I had previous. Is it any surprise that talent doesn't stick around? Oh and good luck getting the 3-4 weeks of vacation everyone else is providing, they only offer 2 here.