Antiquated business and brutal company culture that has been sustained by the rate environment. Once they have to start originating their own mortgages, it will be game over for this dinosaur.
What's going wrong and how can it be improved?
Pennymac isn't known for service. We buy portfolios of loans and people get stuck with us.
Why do you feel undervalued and what would make you feel better about your compensation?
Pay is decent but the benefits are weak. The RSUs are basically worthless unless you're in the c-suite.
What did you like most about the interview process?
The interview process was pretty quick. Since HR doesn't really get involved in recruiting, you can hire as fast as your team is willing to move.
What does the leadership team need to get better at?
The executive team is mostly ancient people from Countrywide. If you didn't work with these people at Countrywide or BoA, they don't want anything to do with you.
What are some of the best things about your team?
I happened to be on a good team that was able to build our own mini culture to survive but when I look out on the other teams I just see misery.
What needs to change to make the company culture better?
They need to modernize across the board. Legcacy technology and systems makes even the most mundane tasks utterly brutal. The company squeezes pennies whenever it comes to any employee event or reward. The annual gifts are a bit of a running joke.
Other Employee Reviews for PennyMac Loan Services, LLC
×