PENNYMAC reviews

3.0

46% would recommend to a friend

(1,563 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 1,563 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 24, 2023

Loan Officer

Recommend
CEO approval
Business Outlook

Pros

Made the phone ring, could answer as many calls a day as I like.

Cons

Micromanage as most big corporations do.

4.0
Oct 24, 2023

Enjoyed working there

Recommend
CEO approval
Business Outlook

Pros

Nice company culture, can advance if you work hard and are knowledgeable.

Cons

Unstable market, it’s just the business.

3.0
Oct 19, 2023
Recommend
CEO approval
Business Outlook

Pros

Great if you're just starting in your career, fresh out of college and want to get some experience from an established company in the mortgage industry. It is respectable work and you can pivot into different areas of tech and product through the mortgage application process.

Cons

Not much room to grow and the pay is not the best in comparison to the market rate. Even after a promotion they lag behind competitors. Management is also very old school. In a society where most things can be done electronically, the company is lead by old school copywriters and file cabinets where they refuse to adapt to the resources most tech companies use today. Turnover has also been high this past year, as it seems with every interest rate hike was followed by a round of layoffs. Most of the problems that the teams face have already been discovered but management refuses to invest into addressing them.

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PENNYMAC Response
2y
Thank you for taking the time to provide feedback on your experience at our company. We appreciate your honesty and value your perspective. We understand the importance of addressing concerns and finding ways to improve the work environment. It's great to hear that our company provides a good starting point for individuals who are just beginning their careers. Gaining experience in the mortgage industry can be valuable, and the opportunity to pivot into different areas of tech and product through the mortgage application process is definitely a positive aspect. However, we hear you on your concerns about limited growth opportunities and below-market pay. We acknowledge that these are important factors in employee satisfaction and retention. We often review our compensation structure to ensure that it remains competitive in the market. Additionally, we will explore ways to create more growth opportunities within the company, such as sharing our additional training and development programs. Your feedback regarding management and their resistance to adapting to new technologies is duly noted. We recognize the importance of staying up-to-date with industry trends and embracing new resources. We will work closely with the leadership team to encourage them to be more open to change and invest in solutions that can enhance our operations and overall business growth. Lastly, we understand that high turnover can have a negative impact on the company and its employees. We will conduct a thorough analysis of the reasons behind the turnover and take appropriate measures to address them. It is crucial for us to create a supportive and engaging work environment that encourages employees to stay and grow with us. Thank you again for sharing your thoughts and suggestions. Your feedback is invaluable in helping us identify areas for improvement. We are committed to making positive changes and ensuring that our employees have a fulfilling and rewarding experience at our company. If you have any further concerns or suggestions, please do not hesitate to reach out to us employeerelations@pennymac.com. We are here to support you.
Viewing 283 - 285 of 1,563 Reviews

Glassdoor has 1,679 PENNYMAC reviews submitted anonymously by PENNYMAC employees. Read employee reviews and ratings on Glassdoor to decide if PENNYMAC is right for you.