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      PENNYMAC

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      What is the hiring process like at PENNYMAC?

      PENNYMAC reviews

      Ghosted By the Recruiter

      Software engineer
      Current employee
      Recommend
      CEO approval
      Business Outlook

      Pros

      None that I can think of, I was ghosted by the recruiter (see below)

      Cons

      Reached out to me by recruiter for a role in the tech division. Initial screening went well, and was told that the hiring team wanted to meet. Tried to follow up regarding meeting with the hiring team, and was ignored/ghosted on all means - text, email, & cell. Completely unprofessional.

      2
      avatar
      PENNYMAC Response
      now
      We wanted to take the time to respond to your last review. It seems your experience was frustrating and left you with a bad feeling. Although it is not the norm, we understand it was your experience. We will take this feedback back to our team so that we can ensure a better process moving forward. Growing as a company does not always mean size, it also means growing our ability to provide meaningful benefits, engaging experiences, and impactful leadership. We are continuously evaluating ourselves to improve our impact on our employees, customers, and shareholders. Based on your feedback we missed the mark, if you are willing, please reach out directly to us at employeerelations@pennymac.com so that we can better understand your specific situation and incorporate our feedback into our improvement strategy.

      Ghosted By the Recruiter

      Software engineer
      Current employee
      Recommend
      CEO approval
      Business Outlook

      Pros

      None that I can think of, I was ghosted by the recruiter (see below)

      Cons

      Reached out to me by recruiter for a role in the tech division. Initial screening went well, and was told that the hiring team wanted to meet. Tried to follow up regarding meeting with the hiring team, and was ignored/ghosted on all means - text, email, & cell. Completely unprofessional.

      2
      avatar
      PENNYMAC Response
      now
      We wanted to take the time to respond to your last review. It seems your experience was frustrating and left you with a bad feeling. Although it is not the norm, we understand it was your experience. We will take this feedback back to our team so that we can ensure a better process moving forward. Growing as a company does not always mean size, it also means growing our ability to provide meaningful benefits, engaging experiences, and impactful leadership. We are continuously evaluating ourselves to improve our impact on our employees, customers, and shareholders. Based on your feedback we missed the mark, if you are willing, please reach out directly to us at employeerelations@pennymac.com so that we can better understand your specific situation and incorporate our feedback into our improvement strategy.

      Training is horrible, access to data takes forever

      Loan ops specialist i
      Former employee
      Saint Louis, MO
      Recommend
      CEO approval
      Business Outlook

      Pros

      I liked the culture, most people were friendly

      Cons

      I worked there for only a month, and wasn't able to even start doing my job for 2 weeks due to bad training and no access to the data that I required. The team I worked with was on a hybrid schedule, so they worked M-F in office, then Th- Fri were from home. I was only trained a couple of hours a day for the first 3 days I was there, then left to figure it out. This means figuring out a new system, new processes, etc. The Processes and Procedures was horribly written and left out a lot of important material, especially if you got an Error message which happened a lot with the horrible system they use, so on Thursdays and Fridays I tried using them when I was finally given work to do, but made mistakes due to the P/P's missing a whole lot of information. Then if I wanted to ask a question I got dirty looks and slow answers to my questions. When I was let go I still didn't have access to all of the databases that I needed, (it took them 2 weeks just to get me a phone) so I don't feel like they even gave me a chance to prove myself, and the team lead seemed like she didn't want to help or answer any questions. But then when I made a mistake she was all over me for it, and not in a positive way. I appreciate feedback when it is constructive, but they way she did it was demeaning and demoralizing. I was moving work along by the 3rd week and completing the tasks they gave me, and doing my best to figure it out on my own, but that wasn't enough I guess. Some of they other teams seemed to work together, this team didn't want to help or work as a team. If I asked the manager for help, which wasn't often because she was so busy, I would get a patronizing look and answer, like " you should know this". Well, if I would have had real training and P&P's that were written well, I wouldn't have to be asking you questions. would I?

      2
      avatar
      PENNYMAC Response
      now
      Thank you for taking the time to write an honest review of your experience working at Pennymac. We are glad to hear that you found the people and the culture. However, we are sorry to hear that overall it was not the best fit for you. Your feedback will be taken into consideration and used as a means for improvement in the future. Thank you for sharing your thoughts and insights with us.

      Misleading

      Loan officer
      Current employee
      Franklin, TN
      Recommend
      CEO approval
      Business Outlook

      Pros

      Very nice office and location

      Cons

      They lie about equal distribution of leads and it is very uneven. Please do not be fooled by your interview process where they tell you otherwise to get you in the door.

      5
      avatar
      PENNYMAC Response
      now
      Thank you for taking the time to share your thoughts about your experience working at Pennymac. Please know that we take all feedback seriously and are committed to providing a positive working environment for all of our employees. We value your willingness to learn and hope that you will continue to apply the skills and knowledge acquired during your time at Pennymac in your future endeavors.

      AWFUL

      Loan officer
      Former employee
      Westlake Village, CA
      Recommend
      CEO approval
      Business Outlook

      Pros

      Good team and good cafeteria

      Cons

      -micromanagement heaven -you want a promotion? Too bad a DEI hire from outside the company is going to take it instead -they love pulling the rug from under you with a new comp plan “to match industry standards”. -they treat their processors like they’re kids in a sweat shop so the processors have no incentive to care about your file (they give them peanuts as a quarterly bonus) -they have RCT spies to watch everything you do and snitch to your manager/ set your lunches / decide if your time is approved -they act like it’s the best place to work but it’s absolutely not

      1
      avatar
      PENNYMAC Response
      now
      Thank you for sharing your feedback after your five to seven years as a Loan Officer with our Westlake Village team. Because of your long tenure with the company, we genuinely want to understand your specific experience. We invite you to reach out to us directly at employeerelations@pennymac.com so we can hear your insights and make sure your perspective is noted for our ongoing operational reviews. Thank you for your years of hard work, and we wish you the best moving forward.

      Ghosted By the Recruiter

      Software engineer
      Current employee
      Recommend
      CEO approval
      Business Outlook

      Pros

      None that I can think of, I was ghosted by the recruiter (see below)

      Cons

      Reached out to me by recruiter for a role in the tech division. Initial screening went well, and was told that the hiring team wanted to meet. Tried to follow up regarding meeting with the hiring team, and was ignored/ghosted on all means - text, email, & cell. Completely unprofessional.

      2
      avatar
      PENNYMAC Response
      now
      We wanted to take the time to respond to your last review. It seems your experience was frustrating and left you with a bad feeling. Although it is not the norm, we understand it was your experience. We will take this feedback back to our team so that we can ensure a better process moving forward. Growing as a company does not always mean size, it also means growing our ability to provide meaningful benefits, engaging experiences, and impactful leadership. We are continuously evaluating ourselves to improve our impact on our employees, customers, and shareholders. Based on your feedback we missed the mark, if you are willing, please reach out directly to us at employeerelations@pennymac.com so that we can better understand your specific situation and incorporate our feedback into our improvement strategy.

      Terrible

      Mortgage loan officer
      Current employee
      Franklin, TN
      Recommend
      CEO approval
      Business Outlook

      Pros

      Pizza party once in a while

      Cons

      If you have mortgage experience and great at your job this is not the place for you. You will actually be given way tougher leads to work and they will extract what they can from your skills. The people rewarded with easier leads the most are people that are brand new to the industry and dress preppy. They reward suck ups and punish the people that have experience and know what they are doing. They will gaslight you and ask why you aren’t doing as well as little suck up Johnny who’s brand new to the industry (and is getting nothing but lay down easy calls and leads) if you have mortgage experience avoid this place.

      3
      avatar
      PENNYMAC Response
      now
      We wanted to take the time to respond to your last review. It seems your experience was frustrating and left you with a bad feeling. Although it is not the norm, we understand it was your experience. I would like to encourage you to reach out to us directly at employeerelations@pennymac.com so that we can understand more about your situation. Even if we cannot change the past we can influence the future. We are working hard to build a work environment that encourages growth and promotes wellness (mental, health, and financial). Growing as a company does not always mean size, it also means growing our ability to provide meaningful benefits, engaging experiences, and impactful leadership. We are continuously evaluating ourselves to improve our impact on our employees, customers, and shareholders. Based on your feedback we missed the mark, if you are willing, please reach out directly to us at employeerelations@pennymac.com so that we can better understand your specific situation and incorporate our feedback into our improvement strategy. Thank you once again for your feedback.