A Soul-Crushing Machine Disguised as a Job - Loan Officer PENNYMAC Employee Review

1.0
9 Sept 2025
Recommend
CEO approval
Business outlook

Pros

• You might make money if you get golden leads (don’t count on it). • Base pay during non-tenured months gives you temporary breathing room.

Cons

Training is a joke: six weeks of slide decks and half-baked “shadowing” where you often can’t even hear the borrower. You’re thrown in blind and blamed when you sink. • Non-tenure lasts ~3 months. Sounds safe—until your last non-tenured month rolls over and drags down your first three months of tenure. You’re haunted by numbers you had no chance to escape. • Calls are a trap: you can lock as many as you want, but if they don’t fund, you’re accused of “costing the company” thousands. Instead of coaching, you get public shaming. • Leadership is chaos. Some managers hide, others panic, all live in fear. Genuine support is extinct. The culture is built on intimidation, finger-pointing, and fear. • Toxicity is woven into every metric. You can fund loans and still be told you’re failing. The system is designed to chew you up and spit you out. • Upcoming comp plan change—expect to work harder each year for less.

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PENNYMAC Response
8mo
Thank you for taking the time to share your feedback about your experience with our company. We genuinely appreciate your honesty and are sorry to hear that you had a negative experience with our management and training. We understand the importance of work-life balance and the impact it has on our employees' overall well-being. We apologize if you felt that this was not prioritized during your time with us. We will take your feedback into consideration and work towards creating a better balance for our employees. We understand that every department plays a vital role in our company's success, and we value the contributions of each team member. We will continue to work towards creating an environment where all employees feel equally valued and appreciated. Thank you again for sharing your thoughts with us. We genuinely value your feedback and will use it to improve our management practices and overall employee experience. If you wish further discussion, please email us at employeerelations@pnmac.com

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.

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PENNYMAC Response
1mo
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
22h
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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