Pennymac Earns Coveted Spot on Newsweek’s 2023 List of Top 100 Most Loved Workplaces®

Pennymac ranked as #38 Among 100 U.S. Companies for Outstanding Employee Sentiment and Satisfaction

Pennymac is proud to announce its recognition in Newsweek’s annual Top 100 Most Loved Workplaces® list, a result of a collaboration with the Best Practice Institute (BPI), a leadership development and benchmark research company.

Pennymac was ranked #38 out of the 100 companies that received this award. The rankings were established after surveying more than 2 million employees from businesses with workforces varying in size from 50 to more than 100,000 employees. The honored organizations, including Pennymac, were recognized for creating a workplace where employees feel respected and inspired.

“We are honored to receive this award from Newsweek and BPI, as it demonstrates our team’s dedication to building an inclusive culture where everyone can thrive,” said David Spector, Chairman and Chief Executive Officer at Pennymac. “This recognition is especially meaningful because it is based on the direct feedback from our team members, who highlighted a commitment to our core values, a strong track record of supporting career growth and providing internal advancement opportunities. As we celebrate Pennymac’s commitment to greatness, we will continue to invest in our people and dedicate our resources to the communities where we live and serve.”

The results are based on how well companies demonstrate areas within the Spark Model as defined by BPI including Systemic Collaboration, Positive Vision of the Future, Alignment of Values, Respect and Killer Achievement. Employee sentiments and emotions indicating how engaged employees are, how positive they feel about their workplace, and how committed they are to the organization’s success were analyzed to identify the Top 100 Most Loved Workplaces®.

"Fully understanding and acting upon employee sentiment, emotion, and recommendations continues to be a challenge and top priority of executive leadership,” said Louis Carter, CEO of Best Practice Institute. “The companies on this list have committed to listening carefully to their employees to create a workplace employees love.”

“With the rapidly changing workplace and competition for top talent, more companies are recognizing the importance of employee engagement and commitment,” said Nancy Cooper, Global Editor in Chief, Newsweek. “The workplaces that have demonstrated a commitment to their employees in 2023 are more likely to attract the best talent and deliver strong business outcomes.”

Pennymac is committed to fostering a diverse, equitable and inclusive culture to engage a highly talented and performance-focused workforce. As of 2022, 75% of employees are female or underrepresented minorities, including 54% at the management level, and Pennymac employs 50% women company-wide. It was also touted by Newsweek and BPI for prioritizing employee advancement.

For more information and opportunities at Pennymac, please visit www.pennymac.com/careers.

About Pennymac

Pennymac collectively refers to PennyMac Financial Services, Inc., a mortgage lender and servicer (NYSE: PFSI), and PennyMac Mortgage Investment Trust (NYSE: PMT), a mortgage real estate trust. PMT is externally managed by PNMAC Capital Management, LLC, a wholly-owned subsidiary of PennyMac Financial Services, Inc. Additional information about PennyMac Financial Services, Inc. is available at pfsi.pennymac.com and additional information about PennyMac Mortgage Investment Trust is available at pmt.pennymac.com. Since 2008, Pennymac has earned the position as one of the most respected lenders, servicers and investors within the mortgage industry. As one of the top lenders in the country today, Pennymac has helped over 4 million lifetime homeowners achieve and sustain their aspirations of home. Pennymac is guided by the company’s core values of being Accountable, Reliable and Ethical in all business practices. Pennymac is committed to making positive contributions and promoting long-term sustainable growth and environmental stewardship. The organization has been recognized for various notable awards, including: Forbes 2023 Financial All-Stars, National Mortgage Professional’s 2023 Diversity Leader, Mortgage Women Magazine’s 2022 Top Employer for Women, Nerd Wallet’s 2023 Best of Awards for FHA Loans, TPO as the #1 Lender Scotsman Guide 2022.

Methodology

To identify the top 100 companies for the Newsweek ranking, companies were evaluated and scored as follows: 35 percent of the initial score was based on employee survey responses; 25 percent was derived from analysis of external public ratings from sites such as Comparably, Careerbliss, Glassdoor, Indeed and Google; and 40 percent came from direct interviews with and written responses from company officials. Newsweek then conducted additional research into every company on the list, as well as the top runners up, to determine the final list of 100 companies and their ranking. (The list includes both U.S. firms and companies with a strong U.S. presence that are based overseas.)

About Newsweek

Newsweek is the modern global digital news organization built around the iconic, over 85-year-old American magazine. Newsweek reaches 100 million people each month with its thought-provoking news, opinion, images, graphics, and video delivered across a dozen print and digital platforms. Headquartered in New York City, Newsweek also publishes international editions in EMEA and Asia.

About Best Practice Institute

Best Practice Institute is an award-winning leadership and organization development center, benchmark research company, think tank, and solutions provider. BPI is the certifying body for Most Loved Workplace® and conducted the original research to create the model and criteria for becoming a Most Loved Workplace®. BPI’s research proves that Most Loved Workplaces® produce 3-4 times better customer service, employee performance, and retention than companies not loved by their employees.

For more information on how to apply to become a certified Most Loved Workplace in 2024, go to: http://www.mostlovedworkplace.com

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