PennyMac Reviews | Glassdoor

PennyMac Reviews

Updated July 6, 2018
232 reviews

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3.4
StarStarStarStarStar
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Approve of CEO
PennyMac CEO David Spector
David Spector
36 Ratings

232 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 10 reviews)

  • "What I enjoy most about this organization is that it is a growing company with great potential" (in 8 reviews)

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

  • "There really is no downside working at PennyMac, such a great company and there is room for growth" (in 6 reviews)

More Pros and Cons

  1. Featured Review

    Helpful (15)

    "A true work family environment"

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

    I have been working at PennyMac full-time

    Pros

    First of all the pay is amazing. Also, when it comes to your work experience they give you a real chance to learn about the mortgage industry. You actually get at least 5 weeks of training so that when you go out on the floor and you start working you really feel like you know what you're doing. There is also opportunity for overtime all of the time. Which is nice if you are ever in need of extra money and you want to do that math you know what you need to do how many hours into work, in order to get the money that you need. I would say the best part about working here is that you really feel like you are working with friends and family. You get a supervisor who has a team, and you have meetings at least once or twice a month. Outside of that there is the opportunity to get sale bonuses each month, but it is not required in a sense of you have to push sales it is nearly an opportunity while having a conversation with a customer. Oh and not to mention, they have their own cafeteria that you get a free meal tickets for whenever you work 30 minute lunches.

    Cons

    If you are used to having your weekends to yourself, then working at PennyMac may not be a good idea for you. I only say this because every other Saturday we do have to work 4 hours. However these four hours are in the morning and you do get a break. I myself, actually enjoy working every other Saturday because I mean spend every other Saturday you know you are guaranteed overtime so it really depends on how you look at things. The only other con working there is that it is quite far for most people however they are working on expanding so soon there actually be two locations for customer service.

    Advice to Management

    Management is amazing at PennyMac. They are open and helpful, and they definitely believe in treating their customer service representative like customers. They truly believe in there values of being accountable, reliable, and ethical.


  2. Helpful (1)

    "Great place to start your career"

    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

    - Great organization culture, friendly people
    - Excellent manager (for me), strong & helpful team
    - Decent benefits
    - Many other pros

    Cons

    - can get busy at times, but not all the time/not too much OT

  3. "Banker"

    StarStarStarStarStar
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    Pros

    Benefits are the best, sick time, match 401k

    Cons

    The company has been through a lot of things


  4. "Penny MAc"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in Westlake Village, CA
    Current Employee - Anonymous Employee in Westlake Village, CA
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

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

    Pros

    Centrally located and easy to get to.

    Cons

    The pay is extremely low compared to other companies
    Training is horrible.


  5. "Current employee"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Customer Service Supervisor in Moorpark, CA
    Current Employee - Customer Service Supervisor in Moorpark, CA

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

    Pros

    Great coworkers, most weekends off

    Cons

    Limited growth opportunities, limites salary opprtunities


  6. Helpful (3)

    "loan counselor"

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

    I have been working at PennyMac full-time

    Pros

    great work environment; always able to get answers to my questions

    Cons

    my 90 days was on May 9th and i have to work 112 days before i receive my sick time. I'm a single parent and i wish they would have told us that before 90 days was promised that it may actually be longer


  7. Helpful (2)

    "Do your homework on this company"

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

    I worked at PennyMac full-time

    Pros

    Worked with a great team.

    Cons

    Benefits are not comparable to market. No advancement opportunities.
    Culture is not conducive to growth.

    Advice to Management

    Management has repeatedly been made aware of the issues and shortcomings but they feel they do not need to act on and remedy those issues.

  8. Helpful (1)

    "IT Infrastructure Team- Great Place to Learn and Grow"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Systems Engineering in Moorpark, CA
    Former Employee - Systems Engineering in Moorpark, CA
    Recommends
    Positive Outlook
    Approves of CEO

    I worked at PennyMac full-time (More than 3 years)

    Pros

    Newest Technology Stacks
    Great team work environment
    Good people
    Challenging Projects and Never boring

    Cons

    Career Path for existing employees unclear
    Vacation minimal
    Minimal Telecommute options

    Advice to Management

    Develop and promote existing talent and provide clear career path options for good employees.


  9. Helpful (1)

    "Tough"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

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

    Pros

    Clean work space and office.

    Cons

    Total top down control, no consideration for personal life, some good people work here and the leaders are good people but don't realize that they are not providing a good and positive work environment.

    Advice to Management

    Culture Culture Culture, happy people are productive people. Benefits are meager, time off non existent. Be prepared to work holidays.


  10. Helpful (1)

    "Analyst"

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

    I worked at PennyMac full-time

    Pros

    There is nothing positive to mention

    Cons

    Very long hours everyday... Very low morale


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