PennyMac

  www.pennymacusa.com
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40 Employee Reviews (View Most Recent)

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9 people found this helpful  

worst company ever, with unethical upper mgmt

  • Comp & Benefits
  • Work/Life Balance
  • Senior Management
  • Culture & Values
  • Career Opportunities
Former Employee - Pennymac  in  Moorpark, CA
Former Employee - Pennymac in Moorpark, CA

Pros

paid parking, cafeteria on site

Cons

i repeat long long hours, uncomfortable working conditions, low pay, no appreciation for hard work, long hours, unethical business practices, boring atmosphere with no personality within employees

Advice to ManagementAdvice

Advice to upper management: work on practicing ethics first, which is part of your company's core values. then the rest will shine. know that employees know what goes on behind the scenes. don't give large bonuses to those who have crap work performance but are in Stan's (CEO) A-list because they chose to kiss up to him. Let's be real...

Doesn't Recommend
Neutral Outlook
Disapproves of CEO

Other reviews for PennyMac

  1. 5 people found this helpful  

    Country made their money on the way up, and as Penny Mac they are making 4x on every ones missery.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Loan Originator
    Current Employee - Loan Originator

    Pros

    Penny Mac and the FDIC, Black Rock, and ex-Countrywide President Stan Kurkland keep by distress loans that Countrywide was responsible for 1/4 of them. This means there are a lot of leads to call.

    Cons

    The lending side is as incompetent as you can imagine. They were recently put on supervision by Freddie Mac. They did about 30 loans, 3 were by back, or had to sold somewhere else, and Freddie wouldn't by 4. This is a 23% delinquency. I don't think Countrywide hit 10% and they were pretty much shut down.

    Advice to ManagementAdvice

    Stan Kurkland should get a whole new experienced FHA and Conforming Team in there, and get rid everybody else. Their corespondent side did almost $1 billion. Have the people that run that side find a conforming originator and buy it.

    Doesn't Recommend
  2.  

    Just Okay

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Business Analyst  in  Moorpark, CA
    Current Employee - Business Analyst in Moorpark, CA

    Pros

    Pretty laid back management, no micro-managing (at least not on my team). Overall nice people in the company, pretty neutral corporate environment.

    Cons

    I'm a salary employee so I feel that my time is taken advantage of. It is very taboo on my team to leave on time even if your work is done. Other teams around me that are hourly though seem happy. There are 10 days vacation and 4 days of sick, so plan on spending all year working. HR gives you the run around with promotions as well. I was submitted for a promotion 10 months ago and still do not have approval. There is unequal pay on teams, they try to hire you in low, so remember to negotiate. Lastly, the health insurance is awful. Even my dentist came right out and said "wow, your health insurance sucks."

    Advice to ManagementAdvice

    If you are truly satisfied with an employee, reward them with promotions and raises. HR having full and absolute control over these decisions is ridiculous.

    Neutral Outlook
    No opinion of CEO
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