Disappointing. - Anonymous employee PENNYMAC Employee Review

1.0
28 Dec 2013
Anonymous employee
Recommend
CEO approval
Business outlook

Pros

Parking is free and there is an on-site cafeteria.

Cons

Unfriendly and unprofessional environment. The middle manager over our department delegated a lot of responsibility to seniors or "team-leads". The people in these positions were not only very young and inexperienced but also downright immature and catty. They clearly held their personal friends to more lenient standards than the rest of us and took good care of their friends when doling out various work assignments. There were times when people at adjacent desks would be supposedly working on important projects and I would hear nothing but whispering and giggling (not exaggerating here) or in some cases loud talking and flirting for 10, 15, and 20 minutes at a time as I was working my hardest during a very busy day. I eventually invested in some earbuds. Also, I witnessed cases of well-connected people getting picked for promotions over those who were clearly superior candidates in terms of tenure and performance. I noticed that (shocker) young entry-level people whose parents or family members worked at the company or BoA/CW managed to move out of the trenches and into much better positions with the most incredible speed. The Moorpark location is a long drive from most parts of L.A. It is actually in a business park on the outskirts of town which is even worse because you have to drive 5-10 minutes into town if you want to eat somewhere other than the company cafeteria. It was announced to us that everyone in the company would lose one of their discretionary days but the exact explanation given was that both discretionary days were to be replaced with a single "religious freedom" day. Interesting. Around the same time, the company became much more aggressive about hiring many more new workers as temps and also keeping them at temp status for as long as possible. Many temps (I was not a temp) of over 6 months tenure who had proven themselves to be solid employees were still being denied conversion to full employee status (and therefore all benefits). Given what I know and what I've heard about the history of Countrywide and Kurland's involvement in it, I probably should have come in with lower expectations.

Explore other reviews about PENNYMAC

5.0
23 Feb 2026
Anonymous contractor
Recommend
CEO approval
Business outlook

Pros

good opportunity and meeting good people

Cons

nothing is there to say

avatar
PENNYMAC Response
4mo
Thank you for taking the time to provide your honest feedback about your experience with our company. We are delighted to hear that you enjoyed working with us in your capacity and appreciated the friendly work surroundings. Indeed, we believe that a positive work/life culture is a crucial aspect of any successful business, and we are glad that you recognized our efforts in this regard. Thank you for being a part of our team and we look forward to continuing our positive working relationship with you.
2.0
17 Jun 2026
Recommend
CEO approval
Business outlook

Pros

Training was always provided and you were never rushed to learn. Snacks were given on a daily basis. You had a Penny Pantry in the building that offered free coffee/Soda and a variety of food selections at a resonable price.

Cons

Low paying position at $22.00 an hour to start with no increases. The department couldnt find other Loan Specialist for the longest time and then increased the position to $27.oo an hour in an effort to attract more people. Four of the employees that were already there for a few years in the department were allowed to work remotely on Thursdays and Fridays, every new Employee had to work on site. Bonus was paid a month and a week after the quarter, so March's bonus was given to you on May 7! Human Resources lied and was extremely unprofessional, when challenged they offered no response or made up false information. My recommendation after being rehired and resigned, is to run in the opposite direction, and dont look back.

avatar
PENNYMAC Response
4d
Thank you for taking the time to share your review of your experience with us. We appreciate your candid perspective, and we're glad to hear you found value in our training programs and appreciated our daily office surroundings and pantry resources. We completely understand that compensation, benefit costs, and clear policy transparency are top priorities. We hear your frustrations regarding how starting pay adjustments, localized remote schedules, and incentive timelines can impact the day-to-day experience. We constantly review our compensation structures and internal procedures to ensure fairness, remaining competitive in the market while balancing our overall team dynamics. Regarding your feedback on our communication, we take your comments very seriously. Our company deeply values open communication, and it is never our intention to create an environment where an employee feels unheard or unsupported. We are continuously evaluating ourselves to learn from our employees' experiences and improve our management practices. Even if we cannot change the past, we are genuinely driven to influence the future. Because you have the unique perspective of having spent time with us across multiple tenures, we invite you to reach out directly to our corporate human resources team at employeerelations@pennymac.com. We want to listen carefully to your feedback and ensure your specific insights are thoroughly noted as part of our continuous improvement strategy. We value your time with the team, and we wish you the very best in your future endeavors.
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