Miserable company to work for if you work in the Loan Servicing department! - Anonymous employee PENNYMAC Employee Review

1.0
24 May 2013
Anonymous employee
Recommend
CEO approval
Business outlook

Pros

Since it is a new company, employees do not have to spend an inordinate amount of time on conference calls or in unproductive meetings. Not a lot of Bureaucracy to deal with as compared to a large company. The company offers free parking and has a pretty decent on site cafeteria.

Cons

Avoid the Loan Servicing department at all costs as it has a very high school environment, and certain managers are absolutely horrendous to work for. There is a certain manager in the Loan Servicing department who I would say has the personality of a rattlesnake, but that would be an insult to the overall rattlesnake community. Speaking of which, she and her boss, and her bosses’ boss are all snakes! They are all very unprofessional, and often criticize other peers and Managers in front of their employees. They make promises and commitments that they have no intention of honoring, and are generally very unethical, dishonest people whom no one should ever trust. In addition, employees are overloaded with work and expected to work long hours, for which they are only rewarded with more work. An employee can do a great job on a thousand things, and it will go unrecognized, if not unnoticed, but make just one mistake and you’ll never hear the end of it. In summary, it’s a sweatshop!

Explore other reviews about PENNYMAC

5.0
23 Feb 2026
Anonymous contractor
Recommend
CEO approval
Business outlook

Pros

good opportunity and meeting good people

Cons

nothing is there to say

avatar
PENNYMAC Response
4mo
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. Thank you for being a part of our team and we look forward to continuing our positive working relationship with you.
2.0
17 Jun 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
1w
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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