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

1.0
Sep 9, 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
Feb 6, 2026
Recommend
CEO approval
Business outlook

Pros

Great people work here, good energy

Cons

Very intense and high pressure

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PENNYMAC Response
4mo
We would like to extend my sincere thanks for taking the time to share your thoughts and feedback about your experience with our company. We value all of our employees' feedback, and we appreciate your insights on the pros and cons of the company. Our direct managers are a critical asset to our company, and we're glad to hear that you find them to be caring and supportive. We also understand that supportive coworkers and casual attire create a relaxed and pleasant working environment for our employees. We'll take your feedback into careful consideration, and we'll make needed changes to ensure we're providing a realistic work environment for our loan officers. We understand that some processes here can be frustrating to you, but rest assured that we're working hard to improve in that area. At our company, we encourage our employees to be top producers by performing to the best of their abilities. Therefore, we'll examine the possibility of reducing micromanagement to boost productivity for all. Lastly, thank you for your willingness to learn and grow. We believe that a strong team is a team that is constantly developing, and we hope you find value in the resources we offer to help you succeed in your role.
1.0
Jun 2, 2026
Recommend
CEO approval
Business outlook

Pros

Good team and good cafeteria

Cons

-micromanagement heaven -you want a promotion? Too bad a DEI hire from outside the company is going to take it instead -they love pulling the rug from under you with a new comp plan “to match industry standards”. -they treat their processors like they’re kids in a sweat shop so the processors have no incentive to care about your file (they give them peanuts as a quarterly bonus) -they have RCT spies to watch everything you do and snitch to your manager/ set your lunches / decide if your time is approved -they act like it’s the best place to work but it’s absolutely not

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