Pennymac Finl Svcs Inc Stock Price, News & Analysis

PennyMac Mortgage Investment Trust (NYSE: PMT) has announced its quarterly dividend declaration for Q1 2025. The company's Board of Trustees has approved a cash dividend of $0.40 per common share. The dividend will be distributed on April 25, 2025, to shareholders who are on record as of April 11, 2025.

PennyMac Financial Services (NYSE: PFSI) has launched 'Bring It Home,' a new educational video series aimed at helping consumers navigate the homeownership journey. The series features experienced mortgage professionals sharing industry insights in an accessible format.

The initial release includes 20 short videos covering topics from home buying to refinancing, budgeting, and equity management. The first four episodes, now available, focus on mortgage basics, refinancing, affordability, and VA loans. The content will be hosted on Pennymac's website and YouTube channel.

According to Doug Jones, President and Chief Mortgage Banking Officer, the series aims to create relatable content helping buyers understand the mortgage process. Scott Bridges, Chief Consumer Direct Production Officer, emphasizes the series' role in empowering homeowners to make informed decisions about their homeownership journey.

PennyMac Financial Services (NYSE: PFSI) has launched NonDel+, a full-service Non-Delegated solution within their POWER+ portal. This new platform is designed for banker partners who want control over their loans while receiving support with disclosures, loan documents, and additional services.

The NonDel+ platform offers several key features including: generation of compliant disclosures and documents, advanced pricing tools, dual AUS integration, real-time compliance checks, loan level fees control, access to OptiMIze for MI pricing, and a streamlined closing process with settlement agent collaboration.

As the third largest wholesale lender and leading loan acquirer in the correspondent channel, PennyMac aims to strengthen its position in the wholesale channel through this tech-forward solution that provides partners with comprehensive tools and resources.

PennyMac Mortgage Investment Trust (NYSE: PMT) has announced the pricing of a $150 million public offering of 9.00% Senior Notes due 2030. The notes will be guaranteed by PennyMac Corp. (PMC) and issued in denominations of $25.00. The company has granted underwriters a 30-day over-allotment option for an additional $22.5 million.

The proceeds will fund various business activities, including investments in subordinated bonds from private-label securitization, mortgage-related securities, mortgage servicing rights acquisition, correspondent lending business, and potential repayment of PMC's 5.50% exchangeable senior notes due 2026.

The offering is expected to close on February 11, 2025. PMT plans to list the Notes on the NYSE under the symbol 'PMTV', with trading expected to commence within 30 days of closing.

PennyMac Financial Services (NYSE: PFSI) has announced the pricing of its upsized private offering of $850 million Senior Notes due 2033, increased from the previously announced $650 million. The Notes will carry a 6.875% interest rate, payable semi-annually starting August 15, 2025, and will mature on February 15, 2033.

The Notes will be guaranteed by PFSI's existing and future wholly owned domestic subsidiaries. The proceeds will be used to repay certain indebtedness, including secured MSR facilities and potential repurchase of 5.375% senior notes due October 2025. The offering, expected to close on February 6, 2025, is exclusively available to qualified institutional buyers under Rule 144A and certain non-U.S. persons under Regulation S of the Securities Act.

PennyMac Mortgage Investment Trust (NYSE: PMT) has announced an underwritten public offering of senior notes due 2030. The notes will be guaranteed by PennyMac Corp. (PMC), the company's indirect wholly-owned subsidiary. The net proceeds will fund various business activities, including:

• Investment in subordinated bonds from private-label securitization activities
• Acquisition of mortgage servicing rights
• Funding correspondent lending business
• Repayment of other indebtedness
• General business purposes

The company plans to list the Notes on the NYSE under the symbol 'PMTV'. Multiple financial institutions, including Morgan Stanley, Goldman Sachs, RBC Capital Markets, and others, are serving as joint book-running managers for the offering.

PennyMac Financial Services (NYSE: PFSI) has announced plans to offer $650 million in Senior Notes due 2033. The Notes will be guaranteed on an unsecured senior basis by the company's existing and future wholly owned domestic subsidiaries, with certain exclusions.

The proceeds will be allocated to repay various forms of debt, including borrowings under secured MSR facilities and other secured indebtedness, as well as potentially repaying a portion of the company's 5.375% senior notes due October 2025. Additional funds will be used for general corporate purposes.

The offering will be conducted through private placement to qualified institutional buyers under Rule 144A and to certain non-U.S. persons under Regulation S of the Securities Act. The Notes will not be registered under the Securities Act or state securities laws.

PennyMac Mortgage Investment Trust (PMT) reported Q4 2024 net income of $36.1 million ($0.41 per share) on net investment income of $107.9 million. The company declared a Q4 cash dividend of $0.40 per share. Key highlights include:

- Book value per share increased to $15.87 from $15.85 in Q3 2024
- Correspondent loan production volumes totaled $3.5 billion, down 41% from Q3 but up 41% from Q4 2023
- Created $60 million in new mortgage servicing rights
- Closed two Agency-eligible investor loan securitizations totaling $822 million
- Generated $52 million in non-Agency subordinate bond investments

Full-year 2024 results showed net income of $161.0 million (versus $199.7 million in 2023), with net income attributable to common shareholders of $119.2 million ($1.37 per share). Annual dividends totaled $1.60 per share, while net investment income decreased to $334.2 million from $429.0 million in 2023.

PennyMac Financial Services (PFSI) reported Q4 2024 net income of $104.5 million ($1.95 per diluted share) on revenue of $470.1 million. Book value per share increased to $74.54 from $72.95 in Q3 2024.

Key Q4 highlights include: pretax income of $129.4 million, total loan acquisitions of $35.7 billion, and servicing portfolio growth to $665.8 billion. The company declared a quarterly dividend of $0.30 per share.

Full-year 2024 performance showed net income of $311.4 million, up from $144.7 million in 2023, with total loan production of $116.3 billion. The company issued $650 million in 6-year unsecured senior notes and increased its quarterly dividend by 50% from $0.20 previously.