Pennymac Finl Svcs Inc Stock Price, News & Analysis

PennyMac Financial Services, Inc. (NYSE:PFSI) has rebranded its broker direct division to Pennymac TPO, marking a significant investment in technology, people, and services to support business growth for its partners. The rebranding aims to deepen commitments to broker and non-delegated correspondent partners, enhancing overall service quality. The company also introduced a new technology platform, POWER+, designed to improve operational efficiency and customer experience. PennyMac ranks highly among U.S. mortgage lenders, demonstrating strong market presence.

PennyMac Financial Services, Inc. (NYSE: PFSI) and PennyMac Mortgage Investment Trust (NYSE: PMT) have launched a new branding initiative, marking their fifteenth year in business. The updated brand identity reflects their commitment to customers as a homeownership partner.

The fresh logo represents forward momentum, while significant investments in marketing and technology aim to enhance the customer experience. With over $1 trillion in loans serviced, PennyMac claims the top position as a correspondent aggregator and is known for operational excellence in mortgage lending.

PennyMac Mortgage Investment Trust (NYSE: PMT) declared a cash dividend of $0.47 per common share for the fourth quarter of 2021. This dividend will be payable on January 31, 2022, to shareholders of record as of December 31, 2021. PMT focuses on investing in residential mortgage loans and related assets, managed externally by PNMAC Capital Management, a subsidiary of PennyMac Financial Services (NYSE: PFSI).

PennyMac Financial Services, Inc. (NYSE: PFSI) has appointed Jenny Rhodes as the Managing Director and Chief Human Resources Officer. Rhodes, a seasoned HR professional with nearly 18 years at PNC Bank, will enhance the company's human resources strategy, focusing on talent acquisition and employee development. David Spector, CEO, highlighted her collaborative approach as crucial for fostering a productive work culture. PennyMac, a leading residential mortgage company, aims to strengthen its workforce to ensure sustainable business growth.

PennyMac Financial Services (NYSE: PFSI) and PennyMac Mortgage Investment Trust (NYSE: PMT) announced that Andrew S. Chang will step down as Senior Managing Director and COO effective December 31, 2021. He will transition to a role as Special Advisor to the Chairman and CEO, David Spector. Spector praised Chang’s significant contributions since the company’s founding in 2008. In a regulatory filing, it was disclosed that Kurland Family Investments has sold most of its remaining shares of PFSI. As of September 30, 2021, PennyMac is a leading mortgage lender and servicer in the U.S.

PennyMac Mortgage Investment Trust (NYSE: PMT) has declared cash dividends for Q4 2021 on its preferred shares. The Series A Preferred Shares will pay $0.507813 per share, reflecting an annual dividend rate of 8.125%, with a record date of December 1, 2021, and payment date of December 15, 2021. The Series B shares will pay $0.500000 with the same record and payment dates, holding an 8.000% rate. Series C shares will provide $0.520310 per share at a 6.750% rate, also with payment dates aligned with the other series.

PennyMac Mortgage Investment Trust (NYSE: PMT) reported a net loss of $43.9 million, or $(0.45) per share, for Q3 2021, marking a decline from a net income of $31.9 million in the previous quarter. Financial performance was impacted by the FHFA’s removal of the Adverse Market Refinance Fee, leading to a drop in fair value of mortgage servicing rights (MSRs). Although PMT raised $250 million from a public equity offering, book value per common share decreased to $19.79. The credit-sensitive strategies segment performed well, but the interest rate-sensitive strategies segment faced significant losses.

PennyMac Financial Services reported a net income of $249.3 million for Q3 2021, translating to $3.80 per share, with total revenue of $786.6 million. Book value per share rose to $58.00. The company experienced a 21% increase in pretax income from Q2, though it was down 53% year-over-year. A cash dividend of $0.20 per share was declared, payable on November 24, 2021. Notable achievements include a record $16.3 billion in consumer direct interest rate lock commitments and a growth in servicing portfolio to $495.4 billion in UPB.

PennyMac Financial Services, Inc. (NYSE: PFSI) will announce its quarter results for the period ended September 30, 2021, via a news release after market close on Thursday, November 4, 2021. The results will be accessible on the company's investor relations website. Accompanying this announcement, executives will present a recorded review of the results, which will also be available online. PennyMac is a leading specialty financial services firm focused on U.S. mortgage loans, having originated $252 billion and serviced loans totaling $473 billion as of June 30, 2021.