There are newer employer reviews for PennyMac

Helpful (9)

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

I worked at PennyMac full-time (more than a year)

Doesn't Recommend
Neutral Outlook
Disapproves of CEO
Doesn't Recommend
Neutral Outlook
Disapproves of CEO

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 Management

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...

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  1. Helpful (6)

    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

    I have been working at PennyMac

    Doesn't Recommend
    Doesn't Recommend

    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 Management

    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.

  2. Helpful (1)

    Good salary

    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at PennyMac

    Pros

    Nice people nice company overall depending on depth

    Cons

    Not challenging room for advance usually not available outside previous co workers brought in instead

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