PennyMac Loan Services, LLC Attention: Correspondence Unit PO Box 514387 Los Angeles, CA 90051-4387, Notice of Error and Information Requests Only. On Monday, December 12th, David Spector sold 12,750 shares of PennyMac Financial Services stock. See what top analysts say about your stocks. Similarly, new customer acquisition or non-portfolio interest rate lock commitments were $1.5 billion, essentially unchanged from the prior quarter and up from $274 million in the second quarter of 2020. So while refinance origination volumes are expected to decline significantly over the next several years as a result of higher interest rates, we believe the outlook for PennyMac Financial remained strong, given our large profitable and growing servicing business, our position as one of the largest producers of purchase money loans in the U.S. and the continued expansion of our direct lending businesses. If you have an ad-blocker enabled you may be blocked from proceeding. Contact Us: We Are Here to Help You | Pennymac Before I turn this over to Andy, I want to take a moment to say all of us at PennyMac are very grateful for the many kind thoughts and tributes we have received since announcing the sad passing of Stan Kurland, our founder and Chairman. Dan Perotti , PFSIs Senior Managing Director and Chief Financial Officer will discuss the financials in more detail later on in this discussion. Following the completion of the sale, the chief executive officer now directly owns 650,183 shares of the company's stock, valued at $39,427,097.12. During 2020 we added over 2,000 employees to the PennyMac team to expand our workforce to more than 6,000. This quarter, we increased meaningful the number of partnerships we have with these third parties and also expanded the volumes of sales to our existing partners, driving the quarterly increase in the EBO loan volume I mentioned earlier. PennyMac Financial Services, Inc. (NYSE:PFSI) CEO Sells $912,000.00 in The servicing segment recorded pretax income of $30.9 million, down from pretax income of $141.7 million in the prior quarter and up from a pretax loss of $62.4 million in the second quarter of 2020. With that, I will turn the call over to Andy Chang, Senior Managing Director and Chief Operating Officer, who will go through some of the initiatives we are focused on to position us for future success in the years to come. The percentage of loans in forbearance decreased to 7.8% at December 31 from 10.1% at September 30 as new forbearance plans implemented since September 30 were more than offset by borrowers in forbearance plans at September 30 who have since exited. As we outlined in our Investor Day, we see additional opportunities resulting from changes to the GSE's preferred stock purchase agreement. Please disable your ad-blocker and refresh. For servicing on your existing mortgage account with Pennymac. PFSI's Investment Management segment delivered increased profitability as a result of incentive fees earned based on PMT's profitability over the last 4 quarters. Dans son rle . Good afternoon and welcome to the Second Quarter 2021 Earnings Discussion for PennyMac Financial Services, Inc. Finally, transactions like these provide meaningful savings to PennyMac Financial over the life of the loan while providing the opportunity for redelivery in the future. PennyMac Financial delivered strong fourth quarter results, marking the end to a record year. They sold a total of 398,609 shares worth more than $22,789,635.48. Our direct lending channels have an outsized impact on production segment earnings, as Dan will discuss later. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.29%. 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PFSIs owned servicing portfolio, which consists primarily of Ginnie Mae MSRs, had a 60 day plus delinquency rate of 10.2%, down from 11.4% at the end of the prior quarter, while our subserviced portfolio, primarily consisting of conventional loans, reported a 60 plus day delinquency rate of 2.7%, down from 3.7% at September 30 as borrowers continue to emerge from forbearance plans. DO NOT SEND PAYMENTS TO THIS ADDRESS. David A. Spector is also on the board of 7 other companies. The predominant outcome has been through loan modifications to the borrowers to aid in their recovery. Information on this page was last updated on 3/1/2023. We have made significant investments to scale our end-to-end mortgage fulfillment process while we expect the substantial investments in technology we have made to continually improve the customer experience over time. We believe this represents approximately 13% of the total brokers and non-delegated sellers active in the market today, providing continued room for growth and expansion within the channel in the future. In July, our correspondent acquisitions were $15 billion in UPB and locks were $12.8 billion. The number of approved brokers totaled 1,574, up 11% over the end of the third quarter. This hiring mostly occurred in three key areas, servicing, direct lending and fulfillment services. Direct lending locks were up 13% from the prior quarter, total correspondent lock volume was up 9% and the servicing portfolio was up 6% from the end of the third quarter. However, he will become a special advisor to David Spector, chairman and chief . If youre new to trading, then youve probably heard the wrong thing about optionsthat theyre risky, unpredictable, or difficult. Other restrictions apply. Our large, organically built servicing portfolio provides a counter-balance to our production activity. In total, loan acquisition and origination volumes were $61 billion in the second quarter. PennyMac Financial's servicing portfolio totaled $473 billion in unpaid principal balance at June 30, up 5% from the end of the prior quarter and 22% from June 30, 2020. At PennyMac, our commitment to our customers doesnt end at closing. While 2020 was a record, we have a long track record of strong performance. Mr. Spector earned a salary of $1,000,000.00, stock awards of $2,537,435.00, options awards of $1,101,254.00, non-equity compensation of $8,864,938.00, and other compensation of $71,597.00. Thank you. David Spector Chief Investment Officer Agoura Hills, California, United States 1K followers 500+ connections Join to connect Penny Mac University of California, Los Angeles Activity Thank you. The ongoing success can be attributed to the increased application of data analytics, our growing servicing portfolio and the investments we have made in the loan fulfillment and sales process. Based on data from MarketBeat.com, the company has a consensus rating of Hold and a consensus target price of $69.50. As we continue to grow our leadership positions in the direct origination channels, this growth will drive the earnings from PennyMac Financial's production segment. 47.206 (3) & (4). Before we begin, let me remind you that our discussion contains forwardlooking statements that are subject to risks identified on Slide 2 that could cause our actual results to differ materially, as well as certain non-GAAP measures that have been reconciled to their GAAP equivalent. PennyMac Financial Services Inc provides mortgage loans to customers in the United States. Margins in our consumer direct channel still remain elevated relative to historical levels. We believe the growth opportunities in front of us to be substantial and as we continue to grow our direct lending channels, we expect PennyMac Financials exceptional financial performance to persist through 2021. The prepayment speeds of PennyMac Financial's sub-service portfolio, which includes mostly Fannie Mae and Freddie Mac mortgage servicing rights owned by PMT, decreased to 24.7% from 35.1%. Learn More about David A. Spector's net worth. For licensing information, go to: www.nmlsconsumeraccess.org. The stock was sold at an average price of $58.12, for a total value of $741,030.00. Pennymac's state licenses and important notices. Pennymac Financial Services' profit sinks 31% in Q4 We continue to invest in people, systems and processes across our businesses, laying the groundwork that would allow us to achieve the medium-term goals we outlined in our recent Investor Day. Schonfeld Strategic Advisors LLC raised its position in shares of PennyMac Financial Services by 822.2% during the 4th quarter. No P&I advances are outstanding as prepayment activity continued to sufficiently cover remittance obligations. Our Investment Management segment delivered pretax income of $2.6 million, down from $3.3 million in the prior quarter and down from $5.2 million in the fourth quarter of 2019. We saw significant market share growth in the conventional correspondent market this quarter and our leadership position in government loans remains as a result of our consistency, low costs and operational excellence we continue to provide to our correspondents. Business Incorporated: PennyMac Financial Services, Inc. a annonc que Doug Jones, prsident et directeur des services hypothcaires, a rejoint son conseil d'administration compter du 1er mars 2023. PennyMac Financial's owned portfolio reported a prepayment speed of 28.3% in the second quarter, down from 32.6% in the prior quarter. Pretax income excluding valuation related changes in our servicing segment in 2020 more than doubled from 2019 as we assisted borrowers emerging from forbearance using various loss mitigation strategies. The corporate mailing address for Mr. Spector and other PennyMac Financial Services executives is 3043 TOWNSGATE ROAD, WESTLAKE VILLAGE CA, 91361. BBB File Opened: 2/5/2015. Good afternoon, and welcome to the Fourth Quarter and Full-Year 2020 Earnings discussion for PennyMac Financial Services, Inc. This high level of efficiency was largely due to our cloud-based, proprietary servicing system, otherwise known as SSE. "I am delighted to announce Doug Jones' election to our. All of these workflow and technology investments will improve the experience for the consumer and for the broker, improve productivity, specifically in sales and operations, which will enable higher volumes at a reduced cost to originate. His family and PennyMac, which announced his passing, said he died from complications . Production revenue margins remain elevated, especially with PFSIs growth in consumer and broker direct volumes. We are growing our best-in class tools and solutions we provide our brokers with to further enhance their self-service capabilities. These businesses are foundational to PFSI and not easily replicated. I'll now turn it over to Dan, who will speak to the financial results for the quarter. David Spector, Chairman & CEO, Director at PennyMac Mortgage, holds 259.60K shares in PennyMac Mortgage (Ticker: PMT), holds 1.10M shares in PennyMac Financial (Ticker: PFSI).

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