Things at PennyMac seemed really great at first, however, things turned rather quickly. We were moved, as an entire base file team, into another building, separate from the rest of the PennyMac employees. This in itself was not too large an inconvenience, but things began to take their turn shortly afterwards. It was entirely noticeable that the company was about to downsize. This was obviously a scary notion, however, I thought my fears were over on July 2nd. I had been a top producer in work load as a contractor for many months. Because of this, I was the only contractor offered a permanent position within the company. However, on August 2nd, they informed me that I was not a permanent employee, and that I was being let go with the rest of the contractors. 8 solid months of very hard work in order to secure my job security down the drain, a complete betrayal of trust. I don't recommend anyone seek employment here.