PennyMac Reviews | Glassdoor

PennyMac Reviews

Updated December 10, 2018
252 reviews

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3.3
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PennyMac CEO David Spector
David Spector
45 Ratings

Employee Reviews

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Pros
  • "There are a lot of great people that are willing to show you the steps to grow your career in the Mortgage and Loan industry" (in 12 reviews)

  • "Growing company with opportunity to advance your career" (in 9 reviews)

Cons
  • "It would benefit employees to have a bit more work-life balance and/or the ability to work remotely" (in 13 reviews)

  • "No communication whatsoever from upper management" (in 11 reviews)

More Pros and Cons

  1. Helpful (1)

    "Great company!"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at PennyMac full-time

    Pros

    The culture is amazing and they really care about my personal success and growth. There are weekly site meetings that keep me informed of everything that is going on company and office wide. Overall the communication is better than everywhere I have worked in the past and everyone is very accessible.

    Cons

    At this time, there is nothing I could put in this section.


  2. "Very nice people"

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

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

    Pros

    On site cafeteria, gym, benefits

    Cons

    Finding out what you will actually do versus what you think you are being hired for can be eye-opening. It takes awhile to learn the business.

    Advice to Management

    Be forthcoming about strategy, get rid of people you have to micromanage. Don't punish people for doing the right thing in an emergency because all the rules may not have been followed.

  3. "Good Company, Lots of Growth Potential"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in Plano, TX
    Current Employee - Anonymous Employee in Plano, TX
    Recommends
    Positive Outlook
    No opinion of CEO

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

    Pros

    The culture is relaxed enough to be comfortable, though not necessarily laid back across the board (this typically depends on your department, role and/or manager). Layoffs are non-existent, firings are rare, and most of us trust the direction of the company. And since most people usually get hired as a referral (this isn't the kind of place you simply walk into) there's a unique closeness and sense of camaraderie across the organization, despite the cliques. Work environments are also pleasant, with plenty of perks and resources to help you reach your potential.

    Cons

    There's a ton of variance within the company and its culture across PennyMac locations. This can make things more difficult than they have to be. Expectations are not always clear and management wastes time having meetings about meetings trying to figure out what is--or should be--going on. Favoritism is also an issue that is downplayed or completely disregarded. System issues are a daily headache.

    Advice to Management

    Strive for consistency.
    Simplify your communication processes.
    Make your employees feel valued.


  4. "Processor"

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

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

    Pros

    Laid back environment, flexible

    Cons

    No communication throughout the organization. Overworked and underpaid


  5. "Manager"

    StarStarStarStarStar
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Doesn't Recommend

    I have been working at PennyMac full-time

    Pros

    Some pretty good people to work with.

    Cons

    Very minimal time off. No communication whatsoever from upper management. Talking behind people’s back is managements thing to do


  6. "Micro management taken to an extreme"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Mortgage Loan Officer in Pasadena, CA
    Current Employee - Mortgage Loan Officer in Pasadena, CA
    Negative Outlook
    No opinion of CEO

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

    Pros

    Growing company, great people, great business model.

    Cons

    Management pounds you with reporting multiple times per day and manage with an iron fist. Constantly negative and threatens your pay all the time. Every aspect of the job has a report and they choose a new one highlight each month.

    Advice to Management

    Ask your employees what you can do to make them more successful.


  7. "don't expect easy"

    StarStarStarStarStar
    Current Employee - Anonymous Employee in Westlake Village, CA
    Current Employee - Anonymous Employee in Westlake Village, CA
    Doesn't Recommend
    Neutral Outlook

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

    Pros

    work hard and you will be good

    Cons

    work hard and you will be overworked

  8. Helpful (3)

    "Its a good company for experience"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - IT
    Current Employee - IT
    Recommends
    Neutral Outlook
    No opinion of CEO

    I have been working at PennyMac full-time

    Pros

    Within IT you get to use newer technology and some teams gets off site training.
    The company is relax compared to some corporate settings

    Cons

    Management is poorly trained and seem unmotivated.
    getting raises are tough and when you do you are put on a plan that will increase your salary every quarter instead of just setting your base salary

    Advice to Management

    Pay the employees what they're are worth and listen to their comments and surveys the company always asks for . The company can be a very enjoyable place to work at if management would appreciate their employees more


  9. Helpful (1)

    "Specialist"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Specialist
    Former Employee - Specialist
    Doesn't Recommend
    Positive Outlook
    Disapproves of CEO

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

    Pros

    Friendly people to work with minus management.

    Cons

    No growth, no feedback, no opportunities.

    Advice to Management

    Wake up?


  10. Helpful (5)

    "Wonderful Place to Work!"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at PennyMac full-time

    Pros

    The best decision I made when applied to this company! On-boarding is very smooth. My direct team is fantastic; everyone is super friendly and very helpful.

    The culture is great! There are some many PennyMac events, we all get to meet each other from different offices, departments and get to bring our family as well.
    Benefits are on point as well. Working at PennyMac allows me to spend more time with Family as well. Of course, everyone has those busy days occasionally, who doesn't?
    It is nice to work for a company that takes care of their employees.

    Cons

    I think PennyMac does not have a downside, it continues to improve and make the working experience to be spectacular for each employee with different programs!

    Advice to Management

    Keep it up!