Underwriting - Anonymous employee PENNYMAC Employee Review

1.0
Aug 10, 2017
Anonymous employee
Recommend
CEO approval
Business outlook

Pros

None. Classic bait and switch.

Cons

All I can say is.. don't do it! I was promised training to gain more experience/certifcation to lure me there and once I started everything changed. They are quick to brag about" PennyMac cares about your career path" but that is far from the truth. They hired several of us and had no formal training plan or on-boarding process for new underwriters. I have been there 2 1/2 months and not underwritten 1 live loan. I'm DE and have nearly 7 years recent underwriting experience and 20 years in the business. I've never seen anything like this. It is a disorganized mess and one department has no idea what the other is doing. I spoke up about concerns I have with the discrepancy between what I was told in my interview vs. the treatment I've received since starting (ie: sketchy training)The corporate risk review department seems to not want to support my getting proper training or being successful. So now my supervisor is apparently out to get me for rocking the boat. If you like drinking Kool-Aid go for it. Otherwise steer clear.

Explore other reviews about PENNYMAC

5.0
Jun 24, 2026
Recommend
CEO approval
Business outlook

Pros

Friendly vibe across multiple departments even when communicating with people from out of state. A lot of people here has worked over 10 years, that says a lot about a company. When people stays, especially in mortgage

Cons

Can't think of any. They treated me fairly.

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PENNYMAC Response
1w
Reading your thoughts genuinely brings so much joy to our team. It is incredibly moving to hear that you felt that warm, friendly connection across so many different departments, even when collaborating across state lines. You touched on something we hold very close to our hearts, the fact that so many of our people choose to stay with Pennymac for over a decade truly speaks to the supportive family and stable community we are building here. Knowing that you felt treated with complete fairness throughout your years with us means everything to us. As a Supervisor, you were on the front lines of protecting that exact culture. Your leadership played a direct role in keeping our teams connected, supported, and motivated to grow together for the long haul. We are deeply grateful for the care, guidance, and dedication you poured into our Fort Worth team and our broader community. Thank you for being such a meaningful part of our story, and we sincerely wish you nothing but the absolute best in your next chapter!
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
2w
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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