Pennymac Finl Svcs Inc Stock Price, News & Analysis

PennyMac Financial Services (NYSE: PFSI), a leading U.S. residential mortgage company, is actively recruiting in the Nashville Metropolitan Area for Loan Officers and key roles. While the office location is yet to be disclosed, the expansion aims to enhance customer service and operational reach. With over 6,000 employees and 15 locations nationwide, PennyMac has opened new offices in Cary, North Carolina, and Phoenix, Arizona. The company produced $197 billion in new loans in 2020, positioning itself as the third-largest mortgage lender in the U.S.

PennyMac Financial Services announced its 2021 Annual Meeting of Stockholders set for June 3, 2021, at 11:00 a.m. PDT, to be held virtually. Stockholders as of April 6, 2021, can attend and vote during the meeting. Participation details are available via a web link, and attendees can submit questions in advance as outlined in the proxy statement filed with the SEC. In 2020, PennyMac originated loans totaling $197 billion and serviced loans worth $427 billion, ranking as the third largest mortgage lender and sixth largest servicer in the U.S.

PennyMac Financial Services (NYSE: PFSI) has appointed Doug Jones as President and Chief Mortgage Banking Officer, promoting him from Senior Managing Director and Chief Mortgage Banking Officer. This move highlights the company's commitment to succession planning and leadership continuity. Jones will oversee all loan production and servicing activities. Chairman and CEO David A. Spector emphasized Jones' experience and dedication as key to the company's future growth. PennyMac, founded in 2008, is a leading mortgage lender and servicer, managing substantial loan portfolios in the U.S.

PennyMac Financial Services (NYSE: PFSI) has appointed David A. Spector as Chairman of the Board while he continues as CEO. The Board also welcomed Jonathon S. Jacobson from HighSage Ventures, who brings extensive experience as a long-time investment sponsor. Jeffrey Perlowitz has been appointed as the Independent Lead Director, succeeding James K. Hunt. The leadership transitions aim to enhance growth strategies within the specialty financial services firm, highlighted by its position as the third-largest mortgage lender in the U.S. with $170 billion in loan production over the last twelve months.

PennyMac Financial Services, Inc. (NYSE: PFSI) announced the pricing of $650 million in 4.250% Senior Notes due 2029, increasing the offering size from $500 million. The notes, maturing on February 15, 2029, will bear interest paid semi-annually. Proceeds will be used for general corporate purposes, including repaying secured warehouse borrowings. The offering is private, targeting qualified institutional buyers and certain non-U.S. persons. Closing is expected on February 11, 2021.

PennyMac Financial Services, Inc. (NYSE: PFSI) has announced a planned offering of $500 million in Senior Notes due 2029, fully guaranteed by its wholly owned domestic subsidiaries. Proceeds will support general corporate purposes, likely including repaying existing secured warehouse borrowings. The offering will be conducted privately under Rule 144A of the Securities Act. The Notes will not be registered, thus limiting their sale within the U.S. This move aligns with the company's strategy to strengthen its financial position in a fluctuating market.

PennyMac Financial Services (NYSE: PFSI) reported a strong fourth quarter in 2020, with a net income of $452.8 million or $5.97 per share on revenue of $1.0 billion. The book value per share rose to $47.80. The Board declared a fourth-quarter cash dividend of $0.20 per share, a 33% increase from the previous quarter, payable on February 25, 2021. Notably, pretax income was $617.2 million, down 15% from the prior quarter but up 204% year-over-year, with record loan production of $196.6 billion for 2020.

PennyMac Financial Services, Inc. (NYSE: PFSI) will announce its financial results for Q4 and the year ended December 31, 2020, on February 4, 2021, after market close. A recorded presentation of the results will be available alongside the news release on the company's website. PennyMac is a major player in the U.S. mortgage industry, having originated $170 billion in loans in the past year and serviced $402 billion in loans, ranking third and seventh among lenders and servicers, respectively.

PennyMac Financial Services, Inc. (NYSE: PFSI) announced the passing of founder and Non-Executive Chairman Stanford L. Kurland at age 68 due to COVID-19 complications and brain cancer. His loss is deeply felt within the company and the mortgage industry. Kurland, recognized for leadership in mortgage banking, founded PennyMac in 2008, which grew to become a top mortgage lender in the U.S. Under his guidance, the firm originated $170 billion in loans and serviced $402 billion by September 2020. His legacy at PennyMac and the industry is significant.