Do yourself a favor and avoid this place - Developer PENNYMAC Employee Review

1.0
Jun 23, 2015
Recommend
CEO approval
Business outlook

Pros

The company is growing out of control, the amount of work that it's creating for itself means that there will always be insufficient staffing, and therefore you will always be tasked with learning a new skill because no one else will be put into the position that actually handles those tasks.

Cons

Where do I start? This company's projections are irrational. They are biting off more than they can chew, stressing out employees and every single department. They are lacking in infrastructure, aside for being understaffed and having the feel of a sweatshop. You get 10 vacation days per year, which you have to accumulate. Also the case with sick time, you accumulate 4 hours per month. Things here are grim on every perspective. starting with lack of parking spots, (translating into having to walk from a different company's parking lot on a different street for 10 minutes until you get to your building), continued with the crowded work environment (which is often so loud you can't actually focus on work) to the poor computing technology that hardly supports the tasks needed to be done on a regular basis. The absolute worst of this company is that management is severely lacking in leadership skills. often managers will not acknowledge their employees or even realize how knowledgeable and experienced they are. Career pathing is formally not on the agenda. nepotism rages out of control. You will most likely not get a raise, ever. I have seen people get promoted 2 or 3 times, without getting a raise, with the title change being delayed up to 3 months, and taking on additional responsibilities while minimizing their personal life outside of work for the sake of being able to function. HR is a joke, they take forever to handle claims, and in some cases they even drop the ball to a point where medical workers comp claims get denied because they don't provide forms in due time. Executives pretty much will not acknowledge your existence even if you interact with them on a daily basis. Unless a manager need something from you, he will not even say hello. Promotions are often based on veterancy and position availability. most of the time because of the high turnover rate - positions will just become available and it will be cheaper for the company to promote somebody from within without giving them a raise, rather than hiring somebody from the outside and to try and match market salaries.

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.

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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
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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