PennyMac Employee Reviews

Showing all 30 reviews
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Sweatshop.
Precision Tester (Former Employee) –  Moorpark, CAJanuary 5, 2017
Excellent benefits. Culture of disrupting any socialization attempt lasting more than forty seconds. My direct bosses were excellent, but they had to work fingers to the bone.
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Good culture
Secondary Marketing Analyst (Current Employee) –  Moorpark, CADecember 22, 2016
Great company and good culture. Not much opportunity for growth. Management is great and flexible. Fast growing company. Perfect for recent graduates that need experience.
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Horrible culture
Application Developer (Former Employee) –  Moorpark, CASeptember 25, 2016
Dead end job, blatant favoritism/cronyism, bad management, etc.

They want to be one of the "best places to work at", but, they're the opposite.

Make sure you get all the promises in writing. There's also a terrible turnover. More than I've ever experience before.
Pros
Gym, Cafeteria
Cons
Everything else.
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Great Company
Loan Counselor (Former Employee) –  Fort Worth, TXAugust 23, 2016
New company that's expanding fast. Flexible schedule's with no shift difference / language difference. In order to move up in the company , you will need to know someone.Bad Bonus opportunity.
Pros
Good Management
Cons
Poor Communication
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Good Management team
Unit Manager (Current Employee) –  Fort Worth, TXJuly 17, 2016
Fast-paced, productive work environment. Has the feel of a start up company. Learned alot about the day to day operations of a new mortgage company. Management and co-workers are good. The hardest part of the job is limited system access. The people are the most enjoyable part of the job.
Pros
Good co-workers
Cons
System slowness
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Nepotism
PennyMac Correspondent Group (Former Employee) –  MoorparkMay 28, 2016
Terrible place to work, whoever is looking for a job! DON'T DO IT!!!! Unless it is your last resort and have no other means finding anything else. Working for McDonalds would be better than working at PennyMac
Pros
NONE
Cons
EVERYTHING
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Bad place
Processor (Current Employee) –  Sacramento, CAFebruary 26, 2016
The words to describe the company is:
Extreme micromanagement
Lack of training
Verbal warnings
Unstable
Processes changed daily
Document every thing related with loan
Email blasts
Overtime - average 10 hrs a week
It's like a prison can't wait to get paroled with another job.
Pros
Pay is ok
Cons
Everything from above
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Co-workers are great
TRID Compliance Specialist II (Current Employee) –  Tampa, FLFebruary 24, 2016
Good company overall - you receive all tools necessary to do your job and the Managers/Supervisors are more than willing to help you with any questions you may have and they do it very graciously.
Pros
You will receive great training
Cons
Pay
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Productive and fun working environment
Customer Service Representative (Current Employee) –  Fort Worth, TXNovember 5, 2015
Working at Penny Mac is a very energetic work place , loves working with my coworker. I have learned a lot at penny mac regarding mortgage.
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Very policial and a very difficult place to work
Analyst (Former Employee) –  Moorpark, CASeptember 17, 2015
I worked there for less than a year in which time the manager and all team members left the company. There was very little respect for the hard work the team did. The hiring manager who left the company was very warm and caring but the manager who took over was just the oppositel
Pros
Good people to work with.
Cons
Placed under a terrible manager
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work life and home life balance
Correspondent Quality Specialist II (Current Employee) –  Tampa, FLJuly 19, 2015
No yearly raises or bonus structure, mandatory 14 hours overtime no work life and home life balance. very unrealistic goals and human resources lacks structures.
Pros
flexible schedule
Cons
sweat shop
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Good place to work
Consultant (Current Employee) –  Fort Worth, TexasJune 10, 2015
Good place to work, lots of new projects on the horizon. Right now it is growing very fast and it looks like it will be like that for a long time.
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Don't come here unless you are content in collecting a paycheck in performing mindless work
Production (Former Employee) –  Moorpark, CAJune 9, 2015
Politics run rampant here despite their efforts to improve the culture. You can be the hardest worker or most talented but you will not get recognized unless you are pet favorite of management. Management (in certain departments) tend to favor people that graduated from a big time school or have a family connection with senior management. I have never worked at a financial company where there are so many family members that work in the same company (gives family-run business a whole new meaning). In addition to the secret society atmosphere that they've implemented here, the Moorpark site is overcrowded as there is no parking spaces or cubicles left and the company does not allow people to work from home. Overall, I would never recommend any my colleagues to come work here.
Pros
Jeans Day on Friday, Cafeteria food
Cons
Management egos, little to no room for growth, cafeteria prices
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Great place to gain experience but limited growth potential
Associate (Current Employee) –  Moorpark, CAApril 3, 2015
Very little work/life balance. The pay is below market and there are no merit increases. In order to get a raise you have to do the work of three people and sacrifice your home life. If you are considered for a promotion, the CEO must approve it without knowing anything about what you actually do. Anything over 6% gets denied almost immediately.

The people can be great but this is very much a modern Countrywide and the "Good Old Boys" mentality is very much present.
Pros
short commute
Cons
compensation, work/life balance, upward growth potential
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Good Company
Manager, Mortgage Operations (Current Employee) –  Moorpark, CAJanuary 29, 2015
PennyMac is a good company to work for. They take good care of their own by providing solid benefits. No a whole lot of growth in CA, most of the opportunity is now in TX. Open work environment and loud employees cause a distracting work environment. Compensation is OK but raises and bonuses outside of senior leadership few and far between.
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Average to Slightly Above Average
Supervisor - Insuring and Guarantee (Current Employee) –  Pasadena, CADecember 22, 2014
Company seems to provide certaindegree of job security, but does not believe in giving raises. This strongly hinders advancement opportunities, as promotions often are not follwed pay pay inscrreases.
Pros
Lots of work and OT available for hourly employees
Cons
Scarce advancement opportunities or pay increases
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Review files for loan modification.
Underwriter (Former Employee) –  Fort Worth, TXDecember 3, 2014
Analyzed appraisal, credit report, tax returns, income documents. Worked with litigation and mediation teams. Answered customer service phone calls.
Pros
company events with free foods
Cons
no management on floor support
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A growing company still figuring out its identity
BUSINESS ANALYST IV (Former Employee) –  Moorpark, CANovember 18, 2014
A typical work day,
Monitor jobs, build database objects, build ELT packages and SSRS Reports.

I expanded on my ability to communicate and extract what exactly is needed in business requirements.

Management should have clearly defined expectations and standards.

Love my coworkers and enjoyed my time with them the most

Hardest part about the job was not been recognized for your efforts

Most enjoyable part was knowing that I could learn something new about mortgages at anytime
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Workplace
SOX Internal Auditor, Capital Markets (Former Employee) –  Moorpark, CASeptember 28, 2014
Excellent company environment, a company for people with ambition and drive would want to work for.
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It is just a job
Senior Analyst (Former Employee) –  Moorpark, CAJuly 4, 2014
Bank Reconciliation, Fixed Asset, Inventory, and cost Analyst.
Management is not good. They are lazy and they don't give good direction how to do the job. Discriminate. They gave job to their friends and family. It is a corrupt environment.
I do not recommend people to work there.
Pros
Holiday off
Cons
No break
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Overall rating

2.9
Based on 30 reviews
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Ratings by category

Work/Life Balance
2.7
Compensation/Benefits
2.7
Job Security/Advancement
2.2
Management
2.3
Culture
2.5