PennyMac - worst company ever, with unethical upper mgmt | Glassdoor
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There are newer employer reviews for PennyMac

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Helpful (11)

"worst company ever, with unethical upper mgmt"

StarStarStarStarStar
  • Work/Life Balance
  • Culture & Values
  • Career Opportunities
  • Comp & Benefits
  • Senior Management
Former Employee - Pennymac in Moorpark, CA
Former Employee - Pennymac in Moorpark, CA
Doesn't Recommend
Neutral Outlook
Disapproves of CEO

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

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...

Other Employee Reviews for PennyMac

  1. Helpful (7)

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

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

    "Pennymac Is An Awesome Place To Work"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Administrative in Fort Worth, TX
    Current Employee - Administrative in Fort Worth, TX
    Recommends
    Positive Outlook
    Approves of CEO

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

    Pros

    Communication is awesome between both sites, concerning day to day operations. Love the gym which convenient for the employees. The environment is very positive and rewarding for the employees.

    Cons

    Wish we had more employees that could enjoy the positive environment that pennymac has to offer.

    Advice to Management

    Continue to stay positive and being engaged with the associates and other departments. Continue to recognize the employees because it makes them feel appreciated and strive to excel.

There are newer employer reviews for PennyMac
There are newer employer reviews for PennyMac

See Most Recent

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