Pennymac Finl Svcs Inc Stock Price, News & Analysis

PennyMac Financial Services, Inc. (NYSE: PFSI) has announced that it received the necessary consents to amend the indentures for its 5.375% Senior Notes due 2025 and 4.250% Senior Notes due 2029. These amendments align the covenants with those of its 5.75% Senior Notes due 2031, issued on September 16, 2021. The company will pay consent fees to noteholders on October 12, 2021. As of June 30, 2021, PennyMac originated $252 billion in loans and serviced $473 billion, making it a top player in the U.S. mortgage industry.

PennyMac Financial Services, Inc. (NYSE: PFSI) has extended the expiration date for its consent solicitations on 5.375% Senior Notes due 2025 and 4.250% Senior Notes due 2029 to October 7, 2021. The company increased the consent fee for the 2029 Notes to $10.00 per $1,000 principal amount. This extension allows holders to deliver consents for proposed amendments to indentures, aligning them with the terms of its 5.75% Senior Notes due 2031. Further actions regarding the solicitations remain at the company's discretion, with all other terms unchanged.

PennyMac Financial Services (NYSE: PFSI) and PennyMac Mortgage Investment Trust (NYSE: PMT) have announced an increase in their conforming loan limits to at least $625,000 across all states and counties. This change, which raises the limit for certain markets by over $75,000, aims to assist borrowers affected by rising home prices by providing access to conforming loans instead of Jumbo financing. This adjustment supports home purchases and equity access amid low interest rates.

PennyMac Financial Services, Inc. (NYSE: PFSI) announced the commencement of consent solicitations for holders of its 5.375% Senior Notes due 2025 and 4.250% Senior Notes due 2029. The proposed amendments aim to align the restricted payments covenant and permitted investments definition in the indentures of these notes with that of its 5.75% Senior Notes due 2031 issued on September 16, 2021. The consent solicitation period ends on October 5, 2021. Holders providing consent will receive a fee of $2.50 per $1,000 in principal amount of the respective notes.

ICE Mortgage Technology, part of Intercontinental Exchange (NYSE: ICE), announced a partnership with PennyMac Loan Services LLC (NYSE: PFSI). This integration with Encompass® Investor Connect positions PennyMac as the largest correspondent aggregator on the platform. The collaboration aims to streamline loan delivery, enhancing efficiency and loan quality without added costs to Encompass customers. PennyMac is set to leverage digital solutions for improved loan processing and customer experience.

PennyMac Mortgage Investment Trust (NYSE: PMT) has declared a cash dividend of $0.47 per common share for the third quarter of 2021. This dividend is scheduled for payment on October 28, 2021, to shareholders on record as of October 15, 2021. PMT primarily invests in residential mortgage loans and mortgage-related assets, managed by PNMAC Capital Management, a subsidiary of PennyMac Financial Services (NYSE: PFSI).

PennyMac Financial Services, Inc. (NYSE: PFSI) announced the pricing of a $500 million offering of 5.750% Senior Notes due September 15, 2031. The Notes will bear interest at 5.750% per annum and are guaranteed on an unsecured senior basis by the Company’s wholly owned subsidiaries. Proceeds will be used for general corporate purposes, potentially including repayment of existing secured warehouse borrowings. The offering is expected to close on September 16, 2021. The Notes are offered via private placement and are not registered under the Securities Act.

PennyMac Financial Services, Inc. (NYSE: PFSI) announced its plan to offer $500 million in Senior Notes due 2031. These Notes will be guaranteed by the Company's wholly owned subsidiaries and are intended for general corporate purposes, including possible repayments of existing secured borrowings. The offering will occur via private placements under Rule 144A and Regulation S, subject to market conditions. The Notes will not be registered under the Securities Act, limiting their sale to specific buyers.

PennyMac Financial Services, Inc. (NYSE: PFSI) announced that its Chairman and CEO, David A. Spector, along with CFO, Daniel S. Perotti, will participate in a fireside chat at the Barclays Global Financial Services Conference on September 15, 2021, at 12:45 p.m. Eastern Time. A live audio webcast will be accessible on the company's Investor Relations website, with a replay available for a limited time. As of June 30, 2021, PennyMac was the second-largest mortgage lender in the U.S. with $252 billion in newly originated loans.