PENNYMAC reviews

3.0

45% would recommend to a friend

(1,560 total reviews)
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David Spector

51% approve of CEO

46% positive business outlook

PENNYMAC has an employee rating of 3.0 out of 5 stars, based on 1,560 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
1.0
Dec 28, 2013

Disappointing.

Anonymous employee
Recommend
CEO approval
Business Outlook

Pros

Parking is free and there is an on-site cafeteria.

Cons

Unfriendly and unprofessional environment. The middle manager over our department delegated a lot of responsibility to seniors or "team-leads". The people in these positions were not only very young and inexperienced but also downright immature and catty. They clearly held their personal friends to more lenient standards than the rest of us and took good care of their friends when doling out various work assignments. There were times when people at adjacent desks would be supposedly working on important projects and I would hear nothing but whispering and giggling (not exaggerating here) or in some cases loud talking and flirting for 10, 15, and 20 minutes at a time as I was working my hardest during a very busy day. I eventually invested in some earbuds. Also, I witnessed cases of well-connected people getting picked for promotions over those who were clearly superior candidates in terms of tenure and performance. I noticed that (shocker) young entry-level people whose parents or family members worked at the company or BoA/CW managed to move out of the trenches and into much better positions with the most incredible speed. The Moorpark location is a long drive from most parts of L.A. It is actually in a business park on the outskirts of town which is even worse because you have to drive 5-10 minutes into town if you want to eat somewhere other than the company cafeteria. It was announced to us that everyone in the company would lose one of their discretionary days but the exact explanation given was that both discretionary days were to be replaced with a single "religious freedom" day. Interesting. Around the same time, the company became much more aggressive about hiring many more new workers as temps and also keeping them at temp status for as long as possible. Many temps (I was not a temp) of over 6 months tenure who had proven themselves to be solid employees were still being denied conversion to full employee status (and therefore all benefits). Given what I know and what I've heard about the history of Countrywide and Kurland's involvement in it, I probably should have come in with lower expectations.

5.0
Dec 24, 2013

Free Breakfast Today!

Anonymous employee
Recommend
CEO approval
Business Outlook

Pros

Great medical benefits and we got free breakfast today for being here the day before XMas! Nice treat! Same with day before New Years! It is a new company so there are things that can be improved but I enjoy my job and I like the culture. There are career opportunities everywhere if someone works hard and proves themselves. Those that complain about no career opportunities are either too impatient or are not working hard enough. Take a look at yourself before complaining so much. I like my boss and find him supportive and a good listener.

Cons

Long commute to the Moorpark location for some of us. Luckily it is against traffic and you can take the train right into Moorpark.

1.0
Dec 19, 2013

Not a professional environmet

Anonymous employee
Recommend
CEO approval
Business Outlook

Pros

There are some good people working there

Cons

Getting promotion is more based on relations not qualifications Worked for more than a year, all politics, not gonna survive

Viewing 1546 - 1548 of 1,560 Reviews

Glassdoor has 1,675 PENNYMAC reviews submitted anonymously by PENNYMAC employees. Read employee reviews and ratings on Glassdoor to decide if PENNYMAC is right for you.