Great Culture! - Anonymous employee PENNYMAC Employee Review

4.0
7 May 2019
Anonymous employee
Recommend
CEO approval
Business outlook

Pros

Great culture! This is a very different environment then other mortgage companies I have worked for, everyone is very friendly and helpful here! Great on-boarding process and training experience. The company has grown at a steady pace over the past few years and if your looking for job security this is the place to be.

Cons

The benefits are not that great as well as don't count on getting a raise and if you do it is never anything substantial. 401k matching is only 4% after a year of service and you only have 2 weeks of vacation for the first 5 years of employment. Negotiate the hack out of your pay in the beginning because no matter how hard your work, your previous back ground, being the perfect employee getting a raise here just doesn't happen on a routine basis, there is not a annual merit increase. Because of the slow and steady growth, which is great sign of longevity, unfortunately there are not a lot of advancement opportunities, basically if someone is not moving up or out neither will you.

Explore other reviews about PENNYMAC

5.0
28 Apr 2026
Recommend
CEO approval
Business outlook

Pros

Room to grow and take responsibilities

Cons

Direction from management and work culture.

avatar
PENNYMAC Response
2mo
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. We are always willing to learn from our employees' experiences and suggestions. Therefore, we will continue to monitor the working environment, listen carefully to feedback, and make any improvements necessary. Thank you for being a part of our team, and we look forward to continuing our positive working relationship with you.
2.0
17 June 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.

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PENNYMAC Response
2w
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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