Training is horrible, access to data takes forever - Loan Ops Specialist I PENNYMAC Employee Review

1.0
16 Apr 2024
Recommend
CEO approval
Business outlook

Pros

I liked the culture, most people were friendly

Cons

I worked there for only a month, and wasn't able to even start doing my job for 2 weeks due to bad training and no access to the data that I required. The team I worked with was on a hybrid schedule, so they worked M-F in office, then Th- Fri were from home. I was only trained a couple of hours a day for the first 3 days I was there, then left to figure it out. This means figuring out a new system, new processes, etc. The Processes and Procedures was horribly written and left out a lot of important material, especially if you got an Error message which happened a lot with the horrible system they use, so on Thursdays and Fridays I tried using them when I was finally given work to do, but made mistakes due to the P/P's missing a whole lot of information. Then if I wanted to ask a question I got dirty looks and slow answers to my questions. When I was let go I still didn't have access to all of the databases that I needed, (it took them 2 weeks just to get me a phone) so I don't feel like they even gave me a chance to prove myself, and the team lead seemed like she didn't want to help or answer any questions. But then when I made a mistake she was all over me for it, and not in a positive way. I appreciate feedback when it is constructive, but they way she did it was demeaning and demoralizing. I was moving work along by the 3rd week and completing the tasks they gave me, and doing my best to figure it out on my own, but that wasn't enough I guess. Some of they other teams seemed to work together, this team didn't want to help or work as a team. If I asked the manager for help, which wasn't often because she was so busy, I would get a patronizing look and answer, like " you should know this". Well, if I would have had real training and P&P's that were written well, I wouldn't have to be asking you questions. would I?

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PENNYMAC Response
2y
Thank you for taking the time to write an honest review of your experience working at Pennymac. We are glad to hear that you found the people and the culture. However, we are sorry to hear that overall it was not the best fit for you. Your feedback will be taken into consideration and used as a means for improvement in the future. Thank you for sharing your thoughts and insights with us.

Explore other reviews about PENNYMAC

5.0
23 Feb 2026
Anonymous contractor
Recommend
CEO approval
Business outlook

Pros

good opportunity and meeting good people

Cons

nothing is there to say

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PENNYMAC Response
4mo
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. Thank you for being a part of our team and we look forward to continuing our positive working relationship with you.
2.0
17 Jun 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
5d
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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