What is working from home like at PENNYMAC?

The one thing that is positive, is that the commute to the office (which is mandatory) is short

The company focuses a lot on culture; however, any effort to lighten the environment with culture, gets drowned out by terrible management. Executive management has a very poisonous attitude, which trickles down to all levels of management and employees. This has created a very toxic work environment, to the point where people are not happy to work there anymore. Pennymac has become a prime environment for micromanagement, as well as extreme monitoring. The company also does not believe in work from home in any circumstance, so there is no flexibility there, even considering how the work environment in today's world has changed. Pennymac refuses to adapt to the current work environment. The CEO is incredibly toxic for the company and has moved the company in a very cold and dark direction. Unfortunately, the environment Pennymac started with has dissipated, and the compensation/pay is does not competitive in today's job market. I do not recommend working here.

Pay Benefits People Security Market adaptability

Not much that i can think of. No work from home option- my commute is long

Family oriented. Great benefits for mothers and new fathers. Very team based.

CEO/Executives - do not want to pay their employees appropriately. You will be overworked. You will be paid under the average salaries of your peers with other companies. They do jot plan on giving raises when annual reviews are completed. They do not share the profit sharing’s, end of year bonus is not a thing here. The use their Penny Pantry as a way of an incentive for having to be fully on site. The CEO hates Work from home models and currently in the process of eliminating this. The CEO and executives prefer to eliminate departments instead of giving justified pay raises for the work load presented. Growth is not a priority with PENNYMAC.

Benefits, salary, and work from home options

The poor leadership on management

The pay, the ability to work from home when it was offered

micro managed, no additional training when asked even through your assigned to do it but was on a call

work from home, benefits.. They are trying to build a couture, but this was during the low interest rate environment and I think they grew too fast

very repetitive, hard to get in touch with managers while working from home. They did not pay out my monthly bonus because they said I answered a question incorrect.

work from home hybrid for now

no yearly rises and difficult to level up

Work from home is huge.

Not paid enough for the work done.

Opportunities for Advancement, Steady pay increases for hard work, great people, relaxed work environment, work life balance. Benefits are good, good match on 401k, Nice office.

I think the company values speed and agility to the detriment of accuracy, execution, and efficiency. The company could really benefit from a robust, and ongoing, operations training program, especially in the Retail and TPO channels. The company needs a consistent hybrid WFH policy, needs to abandon a full RTO policy, and needs to re-implement hybrid for higher management levels. These positions are hard to hire for, and we've already lost several highly valued and high performing individuals at higher management levels due to a no remote/ hybrid policy at those levels.

Health insurance premiums, while high, did not raise in cost year to year. They gave an additional 5 days of PTO this year. The office environment is pretty casual and friendly. Management tries to keep it fun with provided lunches & optional after work events. If you do your job, no one bothers you about being on your phone during calls.

There are no annual raises. It doesn't matter how well you perform yearly, your pay will never increase which means you are losing money the longer you work. They do not promote from within, I have been fully qualified yet rejected while the jobs are offered to external candidates. Pennymac decided to spend hundreds of millions of dollars sponsoring the Olympics one day after the CEO sold nearly 7,000 stock shares and a lot of their execs seem to have sold a lot of their stock in the months post election. The sick time is given as a bundle of 40 hours that replenishes annually on your anniversary, and you earn a little over 3 hours PTO every two weeks. The management is very anti-WFH and will rarely give you that option even on a holiday.