PennyMac

www.pennymacusa.com
Employer Engaged

PennyMac Reviews

Updated February 18, 2015
Updated February 18, 2015
57 Reviews
2.4
57 Reviews
Rating Trends

Recommend to a friend
Approve of CEO
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Stanford L. Kurland
33 Ratings

Review Highlights

Pros
  • Great people, nice work environment, no micro-managing, Awesome cafeteria food (in 3 reviews)

  • It is a new company so there are things that can be improved but I enjoy my job and I like the culture (in 3 reviews)


Cons
  • Absolutely to work/life balance (in 3 reviews)

  • long hours, though job dependent (in 3 reviews)

More Highlights

Employee Reviews

Sort: Popular Rating Date
  1.  

    Account Executive

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Account Executive
    Former Employee - Account Executive

    I worked at PennyMac

    Pros

    Flexible work schedule is all

    Cons

    The overall process of getting a loan from open to close

    Neutral Outlook
    No opinion of CEO
  2.  

    Would not mind working here again just for a different department

    Former Employee - Retail Loan Opener/Processor in Pasadena, CA
    Former Employee - Retail Loan Opener/Processor in Pasadena, CA

    I worked at PennyMac

    Pros

    Pay is decent. nice office building

    Cons

    the ratio for the loan processors, closers, funders and underwriters here is off. would not recommend this job for someone with a family that you enjoy spending time with. pay is not worth the un-healthy stress environment

  3.  

    Great experience

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

    I have been working at PennyMac

    Pros

    Learned a lot, from HR issues to compensation

    Cons

    I didn't find any cons working there

    Advice to ManagementAdvice

    N/A

    Recommends
    Positive Outlook
    Approves of CEO
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  5.  

    Account Executive

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Sacramento
    Current Employee - Sacramento

    I have been working at PennyMac full-time (more than a year)

    Pros

    Portfolio business provides a unique opportunity to help existing clients while simplifying the process. Phones ringing off the hook right now. Extremely busy environment. Free coffee, plenty of parking, great loan partners to work with. Potential to earn a great income if you are willing to work.

    Cons

    We are experiencing some growing pains as we are doubling in size this year. There has not been enough training to keep everyone up to speed and help our fulfillment partners with the work load. This is creating delays and postponing loans from closing. Additionally, leadership has really started to micro manage its sales consults.

    Advice to ManagementAdvice

    I would like to see more positivity when reporting and comp changes are being made. The AE's have taken on a lot of extra responsibilities to help our partners and often times it is discouraging when management is telling us our talk time is low or our fee collection is below threshold.

    Recommends
    Positive Outlook
    No opinion of CEO
  6. 1 person found this helpful  

    Satisfied with PennyMac. The growth potential in both responsibility and compensation are slow, but there

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at PennyMac full-time (more than 3 years)

    Pros

    Potential to grow career if you plan to put in the time

    Cons

    Compensation growth does not quite follow the growth in responsibility

    Recommends
    Positive Outlook
  7.  

    Better than where I was.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Claims Processor in Fort Worth, TX
    Current Employee - Claims Processor in Fort Worth, TX

    I have been working at PennyMac

    Pros

    good pay
    nice office
    free stuff
    more tram building

    Cons

    only 2 weeks of vacation
    fewer holidays than other mortgage servicers

    Advice to ManagementAdvice

    better managerial skills on talking to others.

    Recommends
    Positive Outlook
    No opinion of CEO
  8. 2 people found this helpful  

    Reconsider

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at PennyMac

    Pros

    My paycheck never bounced. Nice people to work with, who were sympathetic to the plight of employment at PennyMac.

    Cons

    Company has no regard whatsoever for people's personal lives. Overtime is abundant and mandatory. Raises are non-existent. It is a company policy that they do not provide merit raises of any kind.

    Advice to ManagementAdvice

    Senior Management not interested in addressing issues to determine potential solutions. They simply want bodies in the office. Not familiar with the term "work smarter, not harder." People become burned out due to the excessive amount of overtime and stress, and often end up resigning. Management has made in clear that the employees are "numbers" that are easily replaced. They don't understand that when people feel appreciated they would get so much more from them.

    Doesn't Recommend
    Neutral Outlook
  9. 1 person found this helpful  

    Great people, terrible culture

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

    I have been working at PennyMac full-time (more than a year)

    Pros

    Work with lots of very smart people, and learn a lot. Not a long term career, but a good place to learn skills for the next job at a competing firm.

    Cons

    Work life balance is a joke. Only two weeks of vacation, which they give you crap for using. Management does not value employees, everyone is treated as if they have no value to the firm and you can just quit if you do not like it. Very much a sweat shop atmosphere. Employees work very long hours and rarely receive a thank you or and praise or recognition. Company policy is no merit or cost of living annual salary increases for any employee. You actually get farther behind financially if you work here!

    Advice to ManagementAdvice

    Manage through inspiration rather than intimidation. Recognize the people who did the hard work to execute your ideas deserve a little thank you once in awhile. Let people have a life and they might even be more productive. If you run your business like a slave labor camp, you only get compliant employees, not driven motivated winners.

    Doesn't Recommend
    Positive Outlook
  10. 1 person found this helpful  

    Worst Job Ever

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

    I worked at PennyMac

    Pros

    Some nice co-workers trying to brighten up the day.

    Cons

    No training, constant over-time, no work life balance. Nepotism is rampant. It's like working in a Third World sweatshop.

    Advice to ManagementAdvice

    Stop worrying about your bonus and treat fairly and train the staff that actually does the work. Tell the truth at the interview. Don't say "occasional overtime" be honest. Everyday is a 12 hour day and you get to work weekends as well. Don't ever try to ask for a vacation day.

    Doesn't Recommend
    Neutral Outlook
  11.  

    Customer sevice representative.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Customer Service Representative in Fort Worth, TX
    Current Employee - Customer Service Representative in Fort Worth, TX

    I have been working at PennyMac full-time (more than a year)

    Pros

    Competetive pay. Great hold over job until something else comes available. Very stressful never ending changes. Other positions are long term. Avoid customer service and research and you will be fine within the company.

    Cons

    Customer service has a low ceiling for growth only a select few of managers will help you. Manager selection was based soley on past relationship and not managerial skills and mind set. Floor managers in customer svc are very unprofessional and takes offense if you ask them a question. They are very condescending in customer svc. I hope this review helps someone make the right job choice if you have options. Negative atmosphere.

    Advice to ManagementAdvice

    A true manager is one of experience and wisdom. They know that a team consist of people from all walks of life. Therefore they see will look at situations different. Be more understanding and become more well rounded.

    Doesn't Recommend
    Positive Outlook
    No opinion of CEO

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