Pros
Well, they have a great sales pitch to reel you in, and they give you a draw so you're not starving at first
Cons
I could easily write a 90 page novel here that would have so many details the review would not get approved and so I'm forced to keep it as general as possible since Corporate America rules the country these days. God forbid we have transparency... I'll echo what many have said below: 1) Poor systems - yes, your loan application will take anywhere from 1-4+ hours, and don't complain about the systems, all roads lead to: It's your fault 2) Hours - plan on gaining weight, eating microwave food, never seeing the light of day, and putting family time on hold 3) Plan on having any/all "concerns" dismissed by the sociopaths in charge. They've sold their souls, and they expect you to do the same. 4) Without going into detail, if you're a highly ethical/empathetic/caring individual, it's not the place for you to work. You'll continually get to deliver bad news to clients for reasons I cannot discuss here. 5) They put the "Cult" in "Culture" - So anyone that's caught speaking up, will be tracked down and pulled into meetings; So if you want a taste of what employment might be like in China, or other authoritarian dictatorships, PNMAC is a great place to learn what that's like. 6) Fundings - Anytime you think you're going to have that "great month" watch as fulfillment/processing and others that you count on simply disappear at key points in the process, leaving your clients calling you asking why the notary didn't show up. 7) Expect contradictory guidance - at one moment you're told to do X, then plan on being pulled into a meeting for doing too much of X. 8) Watch as people are promoted SOLELY for parroting management. It truly is like High School 9) Plan on having your loans purposefully and strategically delayed so that by the time you DO decide you want out, you'll be forced to walk away from many clients you worked hard at covering up all of the shortcomings of the company and keeping them on board with the process, because you wont' get paid and in fact, PNMAC hires "special" bean counters to go through your pipeline to try to reduce any/all income before you leave. They love what they do and will send you condescending emails with voice of resentment, as if it's your fault that the company has made poor choices and you're now leaving. 10) Finale' time!!! Good luck finding employement anywhere else in a direct to consumer MLO role. When recruiters see PennyMac on your resume, you'll be passed up, OR if you do actually go through the long list of reasons why you left, they simply will not believe you and label you as "jaded." Recruiters have zero clue as to how tragically poor the operation here is, that they will actually believe you're just making it up. My advice to recruiters: Believe the reviews here. The negative reviews are not simply weak willed individuals whom lacked grit, perseverance and willingness to succeed. I watched some VERY talented top producers leave the company during my time there.
