PennyMac Reviews

Updated May 10, 2021

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4.1
79%
Recommend to a Friend
91%
Approve of CEO
PennyMac CEO  David Spector
David Spector
233 Ratings
Pros
  • "Very considerate company with lots of great people(in 18 reviews)

  • "So glad to have such good people to work with(in 15 reviews)

  • Cons
  • "work life balance can be hard to manage(in 22 reviews)

  • "There are a lot of politics based off of the Countrywide model, an old school guard and "who knows who"(in 19 reviews)

  • More Pros and Cons
    Pros & Cons are excerpts from user reviews. They are not authored by Glassdoor.

    Ratings by Demographics

    This rating reflects the overall rating of PennyMac and is not affected by filters.

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    1. 5.0
      Current Employee, more than 3 years
      Featured Review

      Love PNMAC!

      Feb 4, 2021 - Loan Officer in Pasadena, CA
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Warm, inbound portfolio leads . Super supportive management. Work life balance and culture oriented.

      Cons

      Systems are clunky, but doesn’t hold you back from making money.

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      1 person found this review helpful
    2. 5.0
      Current Employee, less than 1 year

      Excellent fast growing company with extensive opportunities

      Apr 29, 2021 - Confidential 
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Ethical company with excellent knowledgeable leaders

      Cons

      Needs more automated processes grew very fast

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    3. 5.0
      Current Employee, more than 5 years

      Work from Home, all Inbound Leads, base salary and commission multipliers

      Apr 27, 2021 - Senior Loan Officer in Roseville, CA
      Recommend
      CEO Approval
      Business Outlook

      Pros

      - Work from home, unlimited OT and income - Real Time Support from management and great training - Pay is great with a salary and OT Pay - 401k match 100% is great and vested right away - No waiting for "your turn" to produce, everyone is on the same playing field from day 1. I've been here for 5 Years and New LO's start producing similar to seasoned LO's within months from training.

      Cons

      Health Insurance benefits are weak compared to what I've had at other companies

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    4. 1.0
      Former Employee, less than 1 year

      IF YOU'RE LOOKING FOR A SIGN...

      May 5, 2021 - Customer Service Representative 
      Recommend
      CEO Approval
      Business Outlook

      Pros

      i honestly cant think of one.

      Cons

      RUN! DONT DO IT!! I am 100% convinced that all the positive customer service reviews on here are fake. When i was there, i didn't know any rep that loved their job. everyone there looked miserable. The expectations are ridiculous! Everything is extremely micromanaged and counted against you. You go 5 min over your break because youre helping a customer? you are on the phone longer than 6 min because youre trying to be a decent human with the caller? you take too long in the bathroom? all counted against you. sups and managers take too long but can only keep the customer on hold for 2-3 min? still counts against you! Mandatory OT, working from 8-6 with a 30 min lunch, with no time to breathe between calls, no time to think between calls with out being scolded like a 12 yo for not doing what youre supposed to do. YOU WILL REGRET WORKING HERE!

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      1 person found this review helpful
    5. 1.0
      Current Employee, less than 1 year

      Honestly Doesn't Care About Employees

      May 6, 2021 - Modifications Specialist Tier II in Fort Worth, TX
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Pay is pretty good i guess

      Cons

      Lots of busy work very strict

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      1 person found this review helpful
    6. 2.0
      Current Employee, less than 1 year

      Very employee-friendly but not very open to improvements and new ideas

      May 4, 2021 - Vice President, Applications Development in Los Angeles, CA
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Generally a very employee-friendly company

      Cons

      Stuck in the "this is how we've always done it" mindset. Change is not on the daily agenda here and suggesting improvements and realizing new ideas is hard and is perceived negatively. The engineering team needs a culture/mindset change towards a constant improvement & change culture.

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      1 person found this review helpful

      PennyMac Response

      Talent Acquisition Specialist

      Our Employee Relations team and our HR Business Partners are working hard to ensure our employees are supported and heard. Please reach out to our Employee Relations team, the HR Business Partner for your area, or submit a complaint in our AskHR portal so these issues can be investigated and addressed.

    7. 2.0
      Former Employee, less than 1 year

      Home Loan Specialist I

      May 10, 2021 - Home Loan Specialist I in Raleigh, NC
      Recommend
      CEO Approval
      Business Outlook

      Pros

      The money was great and all of my coworkers were very friendly

      Cons

      Everything from managers to policies and especially the non existent loan officers. Little room for growth and always piling work onto people with no extra pay. Will definitely take a toll on your mental and the work-life balance is awful

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    8. 3.0
      Current Employee, more than 1 year

      Not the worst also not the best

      Apr 28, 2021 - Customer Service Representative 
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Work from home during COVID (return to office at some point) Job is easy after you get the hang of it. Bonus available if your quality scores are good. Seems easy to move up. Good pay.

      Cons

      Poor training, they throw you into it before you feel ready. Job is very repetitive. Customers get pretty upset sometimes although that happens at any customer service job, customers mortgage is most likely their highest expense so they don't take it lightly at all understandably. Management is not organized. Very high standards for quality, you can "fail" a call for saying you're welcome instead of my pleasure.

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    9. 5.0
      Current Employee, more than 1 year

      The best career choice I’ve ever made

      Apr 16, 2021 - Senior Loan Officer in Phoenix, AZ
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Working at PennyMac has been nothing short of a blessing. The pay plan is incredibly lucrative. Qualified leads are always provided and available. PennyMac truly works with integrity and focuses on doing business ethically and the right way. Company truly takes care of employees, and employee benefits are amazing. It took me 10 years to find the company and workplace that motivates me to get up early every morning and get to work. For those who want to grow with the company, there are so many ways to accomplish that goal. This is the best place to work in the mortgage industry.

      Cons

      I cannot think of any cons at the moment.

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    10. 1.0
      Former Employee, less than 1 year

      Heartless

      May 3, 2021 - Customer Service Representative 
      Recommend
      CEO Approval
      Business Outlook

      Pros

      The pay is the only positive benefit

      Cons

      This company does not care about you, at all. They make it look good, they make it sound good but that company is heartless. I worked in the Las Vegas location where it was just a bunch of catty woman who didn’t want to help just sit up & gossip all day but we’re supposed to be supervisors helping

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      1 person found this review helpful
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