PennyMac Loan Services, LLC Employee Reviews

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Productuctive and fun workplace
Mortgage Closer (Former Employee) –  Fort Worth, TXOctober 24, 2017
The process design team always made it fun for the employees to grow when a new training is available. We had team building experiences which awarded team members PTO when exceeding goals.
Pros
Free lunch month end
Cons
mandatory overtime for goals
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Get it WHILE you can
Default Specialist III (Current Employee) –  Fort Worth, TXOctober 18, 2017
Fairly new company and still have growing pains. I've been here a while and there's still a long way to go. However, I work in multiple departments and it's so weird and MOST things are not properly planned and controlled.
Pros
No micromanages
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Toxic
Sales Associate (Current Employee) –  Westlake Village, CAOctober 10, 2017
Hostile - Toxic it never used to be this way. It used to be a fun and rewarding place to work. Definitely very political lots of favoritism for friends that do not pull their weight
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Pasadena Loan Processor
Mortgage Loan Processor (Current Employee) –  Pasadena, CAOctober 3, 2017
Working many hours
Reduced bonus structure one year after already working there
Great staff and management
Fast paced company focused on the bottom dollar
Pros
Pasadena Loan Processor
Cons
Pasadena Loan Processor
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n/a
Pennymac (Current Employee) –  Moorpark, CASeptember 25, 2017
Pennymac Loan Services LLC is a great place to work. They have a great structure, and core values as well. The culture is also great as well. The knowledge I have learned here will be beneficial for my career
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Experience at PennyMac
Escrow Assistant (Former Employee) –  Fort Worth, TXSeptember 14, 2017
I left PennyMac and took seasonal temp job with RR Donnelley. For one, it's not the career advancement im looking for, and pay wasn't what im used to. I reorganized their operations. what i did was beyond what anybody there could do. manager was very pleased.
Pros
Built a databse system that automated manual processes
Cons
Pay
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If you love yourself, run far far away
Customer Contact Supervisor (Former Employee) –  Fort Worth, TXSeptember 6, 2017
This is not the place for individual thinkers. You will not be recognized for your talents and the Customer Service management in Fort Worth Texas is HORRIBLE! Petty, vindictive, retaliatory and unable to admit when they're wrong, which they often are. Do yourself a favor and run away from this place.
Pros
you get paid for the hours you work
Cons
Everything about this place is terrible starting at the very top
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Great place
Assisted Mortgage Loan Processor (Former Employee) –  Plano, TXSeptember 1, 2017
Great place to work, management isn't very knowledgeable or supportive, but the work is fair. Processed government loans, work status to clear to close
Pros
Great grouded company
Cons
Very long drive
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Horrible unpleasant environment
Purchase Loan Specialist I (Current Employee) –  Pasadena, CASeptember 1, 2017
Micro managed to the maximum. Horrible management . Every second they have something negative to say and always look down to their employees . To much corporate politics going on.
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Laid Back
Escrow Specialist (Former Employee) –  Plano, TXAugust 20, 2017
PennyMac is laid back. There were great people that I worked with, but it was not a great paying position, and expectations were never set for career advancement. There were no pay raises without hard bargaining, and even then it was almost not worth the time.
Pros
Flexible hours
Cons
Low pay
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Good Company
MORTGAGE CUSTOMER SERVICE (Former Employee) –  Ft. Worth, TXAugust 11, 2017
Fast Pace Enviroment , good Benefits, salary was fair , OT, management can use a little more training in the subject of BK and sensitivity training ..
Pros
Lots of OT
Cons
Management
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It's a job and a paycheck.
Customer Service Representative (Current Employee) –  Fort Worth, TXAugust 6, 2017
A typical day consists of answering as many calls as you can. A few things a dislike about this job: 1) After a call is completed, the system allows you one minute to finish your notes. Now the management team carry walkie talkies with them and if you're within 2 seconds of after call, your name gets called out and it is extremely annoying! 2) Management is unprofessional . They tend to have personal conversations aloud. The place has plenty of offices for personal conversations. What the heck?! The customers can hear the management team literally screaming and laughing. Very unprofessional. 3) Most customer complaints are spot on and as a representative you are required to stand up for the company you work for and defend it, right? Yeah. What I like about it is the hour lunchs and training sessions which get you off the phones. As you are on the phone your entire shift, you don't really get to talk to your co workers as much. But when you do, it's nice. I am however also greatful for my medical insurance, it has great coverage. Pennymac is a job, convinient, comfortable if you can look beyond what I previously stated but I wouldn't hold my breath for advancement opportunities. Now, if you happen to be one with plenty of mortgage experience, then that might just be enough for you to move around. Other than that, not happening. Best of luck!
Pros
Hour lunch, plenty of OT available but not always.
Cons
Unprofessional management.
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Unprofessional cliqueish environment
Correspondent Quality Specialist II (Former Employee) –  Tampa, FLJuly 14, 2017
There is no work life balance. Favoritism by management is extremely obvious. There are no raises, not cost of living increases nor merit ones but Sr. Management will brag about how good the company did year over year.
Pros
None
Cons
Expensive healthcare, poor bonus structure, no merit increases, rude management staff
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Not the worse but definitely not the best
Business Control Specialist (Former Employee) –  Plano, TXJuly 12, 2017
When I started at PennyMac I loved my job. It started to go downhill once I realized that the culture they they talked a lot about was not actually practiced within the management team. The pay is not comparable and the management team is allowed to talk to and treat their employees with little to no respect.
Pros
Company picnics
Cons
Benefits, pay, vacation time
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not a nice play to work
Business Systems Analyst (Former Employee) –  Moorpark, CAJuly 7, 2017
LAFA IT manager SUCK
I do not recommend to work there
the manager treats you like a 2nd class citizen

I have nothing positive to say about IT managers
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Depends on your priorites
PCG Audit Correspondent Specialist II (Current Employee) –  Tampa, FLJuly 6, 2017
If you are looking for excessive OT, little to no phone contact and some flexibility in schedule, this would be a good option. If you are looking for professionalism, organization, career growth, good benefits and a life outside of work, this may not be the best choice for you. It has been my observation that they prefer to promote from a buddy system or outside company at this location. No structure or consistency with training or communication.The job culture may vary with position and area you work in. As your responsibilities increase, your pay does not.
Pros
some schedule flexibility, no direct phone contact
Cons
expensive healthcare, no raises, poor mgmnt, no notice for mandatory OT
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Only friends and family welcome
Core Non Default (Current Employee) –  Fort Worth, TXJuly 5, 2017
Less qualified friends and family are hired above hard working employees. Minorities are routinely discriminated against with lower salaries and being passed over for a promotion. Their reward us more work at the same pay. No merit raises. Management is uneducated and hired in with mininal mortgage experience. Educated and qualified employees are often bullied and denied advancement.You earn 5 hours of pto a month (sick+vacation) so don't plan on a vacation for a year or call in sick. In short, the only educated,professional and qualified employees still there are updating their resumes and leaving as soon as the opportunity arises. Avoid at all costs unless you know someone!
Pros
Close to home
Cons
Nepotism, low pay, no merit increases, pto, expensice insurance
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Great Company
Sr. Business Analyst/Project Manager (Current Employee) –  Fort Worth, TXJuly 5, 2017
Pretty much like every other servicing company. Able to come in and know what I'm suppose to accomplish for the day. Manager is open for career path conversations.
Pros
Great people
Cons
Not enough vacation time
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Quick Layoff
Loan Processor (Former Employee) –  Pasadena, CAJune 22, 2017
Was only with the company 3 mos before they laid everyone off all across the US. I went through a month long training, placed with a manager who did not know anything or how to manager or how to make decisions. The bonus/commission structure was completely not understandable and I believe I was lied to about the stability of the company during orientation.
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Lots of potential.
Supervisor (Current Employee) –  Fort Worth, TXJune 21, 2017
I was hired and and am learning a new process and expanding my experience. Lots of good programs and benefits. I am learning all about credit reporting.
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Overall rating

3.0
Based on 83 reviews
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Ratings by category

Work/Life Balance
3.0
Compensation/Benefits
2.9
Job Security/Advancement
2.3
Management
2.5
Culture
2.8