Countrywide 2.0? - Anonymous employee PENNYMAC Employee Review

2.0
Apr 8, 2016
Anonymous employee
Recommend
CEO approval
Business outlook

Pros

My direct manager was fantastic, and the onsite facilities were pretty good. Which is handy, considering they practically wanted you to live there.

Cons

I predict that PennyMac will have severe issues within the next 2 years similar to Countrywide. Upper management has an extremely adversarial stance against all internal governance efforts; to the point that they browbeat you into removing findings from reports. They are compensated for not having findings, so rather than work on fixing anything, they just fight and whine until they are removed off reports. Everyone loses when that happens. On a personal note they expected 60 hrs a week to be normal starting point, so a normal work-life balance was impossible; and I had recently been laid off my prior job so they brought me in at 2 levels lower and a severely cut paycheck because they knew they could take advantage of my situation. It wasn't until I resigned, and they realized just how much I brought to the table, that they attempted to bring me back to a level near what I had previous. Is it any surprise that talent doesn't stick around? Oh and good luck getting the 3-4 weeks of vacation everyone else is providing, they only offer 2 here.

Explore other reviews about PENNYMAC

5.0
Apr 28, 2026
Recommend
CEO approval
Business outlook

Pros

Room to grow and take responsibilities

Cons

Direction from management and work culture.

avatar
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
Jun 17, 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
1d
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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