Pros
You can make a lot of money quickly. Many of my coworkers were nice people
Cons
I was originally part of the college development program. If you’re a student this company is a must avoid. They constantly lie to tell you how great of a company they are and how going to any other company to do the job would be a mistake. This was my first red flag here. In my 6 months as a loan officer for Pennymac I had 3 different managers. My first one I was in office still in training and they put me on the only remote team there. Following that they demoted my manager and put me on an in office team, only to demote my manager again. Finally I was put on a more secure team although management at that point was all micromanagement. The work life balance is terrible. Overtime is not optional or is required by the company although they disguise it as optional. The recruiter who hired me told me multiple different lies that I then realized we’re not true when I came to the job. There is tons of micromanagement at the company and upper management always plays favorites. Unless you are a favorite, don’t expect to be treated well by anyone there. The office culture is horrible. The people working there never faced consequences for making jokes about other employees that were often times hurtful and terrible to even witness. I’ve witnessed people out loud make school shooter jokes and racist jokes about other employees and everything is shrugged off. I almost felt uncomfortable speaking to others in the office as I did not want to be at the end of a joke they found humorous that I found offensive. Our site (tampa) constantly finished the lowest of any site for production and this isn’t because of the loan officers there. This is because of the poor management spearheaded by the site lead who proceeded to mismanage the site from the moment I was there. If you’re looking for a place of employment you feel comfortable in, I would avoid Pennymac at all costs unless you find racism and hatred a part of your daily life. I’m glad I no longer work for Pennymac as it was the worst choice I could have ever made graduating university.
