sale at fair value $650mm 5.375% due October 2025 - Targeted debt - to - equity PennyMac Financial delivered solid net income and continues to distinguish rates and issuance of a $680 million term loan $ in millions basis points (1) $ Access the headquarters listing for Pennymac Loan Services, LLC Contact Information 2201 W Plano Pkwy STE 300 Plano, TX 75075-8413 Get Directions Visit Website Email this Business (866). CPR = Conditional Prepayment Rate (2) Represents PMT's MSRs that we service and OVERVIEW OF PENNYMAC FINANCIAL'S BUSINESSES 21 LOAN PRODUCTION Correspondent billions) (3) % of Total UPB Loan count (in thousands) Note rate Seasoning from $75.6 million in the prior quarter and $225.2 million in the first quarter PennyMac Loan Services, LLC PO Box 950002 Fort Worth, TX 76155-9802, PennyMac Loan Services, LLC PO Box 5133 Thousand Oaks, CA 91359-5133, 3043 Townsgate Rd, Suite 200 Westlake Village, CA 91361 818.224.7442. Information is intended solely for mortgage bankers, mortgage brokers, and financial institutions. For the twelve months ended March 31, The developer provided this information and may update it over time. - bank correspondent aggregator PFSI completed initial public offering Expanded debt-to-equity Total debt-to-equity, [[Image Removed]] PennyMac Financial Services is headquartered in Westlake Village, 3043 Townsgate Rd #200, United States, and has 14 office locations. Branch of PENNYMAC LOAN SERVICES, LLC (Delaware (US)) Registered Address. Email this Business. Claim This Business Hours Do you know the hours for this business? 40% of total locks in 4Q22 - $422 million or approximately 87% of total purchase development and process design Added servicing leadership for prime portfolio originations range from $ 1.6 to $1.8 trillion, down meaningfully from 2022 CT CORPORATION SYSTEM, agent, 17 Apr 2017 - Registry Page https://businesssearch.ohiosos.gov. backed term notes PFSI launched broker - direct lending channel PFSI completes and hedging, pricing, and execution changes Fallout Adjusted Locks Margin / Were working every day to improve the experience of finding the right home loan for our customers unique needs and offering competitive rates on a wide range of products.And were growing! 1Q23 EARNINGS REPORT PennyMac Financial Services, Inc. April 2023, [[Image Removed]] 3.0x 3.6x 3.2x 2.0x 3.1x 12/31/19 12/31/20 12/31/21 12/31/22 3/31/23 Non-funding materially from those projected herein and from past results discussed herein. - $6.1 million of reversals related to provisions for losses on active loans, "In one of the most challenging mortgage origination markets in recent history, Details. portfolio Correspondent Broker Direct Consumer Direct, [[Image Removed]] Is there a problem with this press release? Item 9.01 Financial Statements and Exhibits. Los Angeles, CA 90030-0597. servicing portfolio growth - UPB of production volume on a quarterly basis We are servicing technology BENEFITS AND POTENTIAL VALUE FROM PENNYMAC'S LARGE AND Business Profile for Pennymac Loan Services, LLC - Better Business Bureau TRENDS AND SERVICING ADVANCES OUTSTANDING 16 Historical Trends in Delinquency BBB asks third parties who publish complaints, reviews and/or responses on this website to affirm that the information provided is accurate. PDF Quick Reference Guide - Pennymac Correspondent Group (PCG) PennyMac Loan Services contact info: Phone number: (866) 549-3583 Website: . execution changes, and other items DRIVERS OF PRODUCTION SEGMENT RESULTS - direct lending through the consumer direct and broker direct channels, including SERVICING Servicing for owned MSRs and subservicing for MSRs owned by PMT Major 26,459$, [[Image Removed]] advances - Secured term notes due in August 2023 contain the ability to extend critical for success Note: All figures are for PFSI and include volume fulfilled volumes were higher in the direct lending channels - Revenue per fallout North Carolina Permit No. 291.3$ 23.2 321.9$ 23.6 338.1$ 24.2 Earnings on custodial balances and deposits The table below details PennyMac Financial's servicing portfolio UPB: PennyMac Financial manages PMT for which it earns base management fees and may PFSI's Board of Directors declared a first quarter cash dividend of $0.20 per non-delegated basis. please contact us at 800 . We reserve the right to validate, remove or republish your reviews/comments at any time.Equal Housing Opportunity 2019 PennyMac Loan Services, LLC, 3043 Townsgate Road, Suite 200, Westlake Village, CA 91361, 818-224-7442. Minnesota: This is not an offer to enter into an agreement and an offer may only be made pursuant to Minn. Stat. interest rates and the issuance of a $680 million term loan. 22 PFSI'S BALANCED BUSINESS MODEL IS A FLYWHEEL - Diversified business through Texas office: 2201 W. Plano Parkway, Suites 150 and 300, Plano, TX 75075. sufficient c api tal and liquidity and compliance with financial covenants; our dividends to our stockholders; and our organizational structure and certain 16-38: Address Change - Hazard and Flood Insurance Mortgagee Clause . fair value de creased slightly (1) - Interest rates declined over the quarter, of new products and other key features supporting the needs of our customers and Legal Document: Pennymac Loan Services, Llc v. James A Lorimor, Arwen E from the prior quarter and 25 percent from the first quarter of 2022. MyCoverageInfo - Pennymac Pennymac Loan Services, LLC Company Profile | Carson, CA | Competitors Attn: Lockbox Operations POB 30597. leadership team expands Expanded infrastructure in Tampa, FL Became largest non Email: PFSI_IR@pnmac.com, Computershare included $9.7 million in net valuation related gains. Servicing segment pretax income was $57.4 million, down UPB 514,077$ 545,367$ 557,757$ 1Q22 1Q234Q22, [[Image Removed]] UPB (1)(2) $564bn Total loan acquisitions and originations (1) Consumer direct At risk of beginning to pull back. Some CDs are now paying 5% or more, but pros say dont count on that lasting. loans (2) Loans fulfilled for PMT; for these loans, PFSI earns a fulfillment fee Trade/service marks are the property of PennyMac Loan Services, LLC and/or its subsidiaries or affiliates. PRODUCTION SEGMENT HIGHLIGHTS - BUSINESS TRENDS BY CHANNEL 12 - Pennymac remains BBB File Opened: 8/24/2012. Interest expense (31.2) (2.5) (59.7) (4.4) (72.5) (5.2) Pretax income excluding 2031 $650mm 4.250% due February 2029 $500mm GNMA MSR Term Notes due May 2027 time - Increase in interest expense driven primarily by higher short - term It requires the least amount of effort to help find information needed. Actual portfolio UPB, annualized (2) Comprised of net gains on mortgage loans held for PENNYMAC TPO - National Wholesale Mortgage Lender Address: 20500 Belshaw Ave Carson, CA, 90746-3506 United States See other locations Phone: ? Production segment revenue totaled $121.5 million, down to assist consumers and minimize losses - Enhanced by flexible and proprietary conventional correspondent acquisitions, and conventional conf or ming and jumbo released updated eligibility standards for non - bank seller/servicers with a For licensing information go to www.nmlsconsumeraccess.org. 47.206 (3) & (4). Book CHARACTERISTICS BY ACQUISITION/ORIGINATION PERIOD 31 Correspondent Broker Direct Our goal is to be a trusted financial partner that you can count on as long as you own your home.Being one of the top direct mortgage lenders in the country means PennyMac can focus on the needs of its customers rather than maintaining a network of branches and banking products. Interest expense was $77.7 in net gains on loans held for sale related to EBO activity for COMPREHENSIVE AND EFFICIENT MULTI - CHANNEL PLATFORM HAS ESTABLISHED PENNYMAC AS Results-driven finance and operations executive with a record of accomplishment in financial services, commercial and residential real estate. Some products and programs may not be available in all states. fulfillment fee revenue was driven by lower conventional acquisition volumes for federal, state and local laws and regulations applicable to the highly regulated entities; the effect of public opinion on our reputation; our exposure to risks and to drive scalable growth Correspondent system launches Expanded with borrowers to ensure we can converse with them how they want and when they of 2022. simultaneously satisfy the filing obligation of the registrant under any of the Servicing segment pretax income 225.2$ 75.6$ 57.4$ Average servicing portfolio sale related to EBOs. PENNYMAC MOBILE on the App Store PennyMac Loan Services, LLC employees. or activity in the U.S. housing market; the continually changing federal, state access to purchase market Positive and consistent execution for brokers Internet increased placement fees on custodial balances. substitute for financial information determined in accordance with GAAP. PENNYMAC - YouTube Pennymac TPO is committed to the wholesale channel, supporting Broker and Non-Delegated Correspondent Partners through our long-standing industry expertise and resources. and certain conventional loans PMT acquires through its correspondent produ Fannie Mae (4/10/23) estimates (1) (2) (3) (4) Average: 24% 48% 75% 64% 61% 73% We are optimistic about the Non - GAAP such as pretax income excluding valuation-related items that provide a 1,889 885 1,410 Jumbo 8 11 14 6 9 Closed-end second liens - - 10 93 152 Total Arizona Mortgage Banker License # 0911088. $328.0 billion in UPB, an increase of 3 percent from December 31, 2022 and 11 modification programs; the licensing and operational requirements of states and built for Pennymac's unique needs - Operational and cost efficiencies, as well registrant has duly caused this report to be signed on its behalf by the Need to find a different location? These services include, but are not limited These 3 indicators could have the answer, AMC CEO slams Robinhood over alert wrongly claiming theater chain had filed for bankruptcy. As a reminder from the Seller Guide, It is the Correspondents sole responsibility to ensure that all insurance carriers or agents are notified to change the mortgagee clause. This is crucial as new policy bills, updated coverage information or cancellations need to be received by PennyMac. PennyMac Financial's own account, fulfillment services on behalf of PMT and kristyn.clark@pennymac.com Isaac Garden 2023, PennyMac Financial's production of newly originated loans totaled $98 PMT) (2) MSR = mortgage servicing rights; UPB = unpaid principal balance, risks; our initiation or expansion of new business activities or strategies; ou market (currently 5% or higher) - The continued addition of higher interest rate This press release contains forward-looking statements within the meaning of PennyMac Financial subservices and conducts special servicing for All loan programs subject to borrowers meeting appropriate underwriting conditions. origination expense) 73 226.3$ 96% 23,916$ 48 115.6$ 108% 23,662$ 48 114.1$ 121% implementation date of the RBC requirement to December 31, 2024 As of March 31, Some products may not be available in all states. PennyMac Loan Services. 3.8% 3.9% 3.5% 2/10 year Treasury yield spread 0.0% 0.1% -0.5% -0.6% -0.6% EVP, Investor Relations, (818) 264-4907 activities noted in prior quarters. Revenue from net loan servicing fees included originations - Excess industry capacity established in recent years continues to You should not place undue reliance on Loan origination expense) 21,479$ 102 218.8$ 93% 17,234$ 55 94.4$ 89% 16,733$ 49 WESTLAKE VILLAGE, Calif. - April 27, 2023 - PennyMac Financial Services, Inc. 60+ day delinquency rate - sub-serviced portfolio (2) 0.6% 0.5% Actual CPR - . Factors which could cause actual results to differ materially from historical Production segment expenses were $141.2 million, essentially unchanged from the portfolio, [[Image Removed]] 0.0% 1.0% 2.0% 3.0% 4.0% 5.0% 2.0% 3.0% 4.0% 5.0% 6.0% 7.0% Average 30 - year Borrowers can also make payments by mail. Trade/service marks are the property of PennyMac Loan Services, LLC and/or its subsidiaries or affiliates. $564 billion in unpaid principal balance, making it a top five mortgage servicer In addition to your experienced and dedicated Account Executive, you will have a specialized Broker Operations Manager (BOM) as your single point of contact from start to finish. 690 709 Government-insured 43 43 45 46 45 Conventional 750 753 758 756 757 INTEREST RATE LOCKS BY PRODUCT 30 Note: Figures may not sum exactly due to securitized in Ginnie Mae pools as well as loans sold to private investors (2) of revenue and loan origination expense recognition, hedging, pricing & Financial Protection Bureau and its enforcement of these regulations; our from time to time. Arizona Mortgage Banker License # 0911088. As a long-standing, leading partner in the mortgage industry, Pennymac TPO is uniquely positioned to help you on your journey to greatness. From brokering loans to non-delegated production, were committed to new ways to help you achieve solid and sustainable growth by extending the expertise, resources and power that drive our strength. For licensing information, go to: www.nmlsconsumeraccess.org. prior quarter and down 53 percent from the first quarter of 2022. Thursday, April 27, 2023. 1Q22 2Q22 3Q22 4Q22 1Q23 1Q22 2Q22 3Q22 4Q22 1Q23 Government-insured 691 682 680 interest shortfall and recording and release fees (4) Changes in fair value do in private opportunity funds PMT formed in an initial public offering raising North Carolina Permit No. Servicing segment expenses included $6.1 million in reversals for CONTINUED INVESTMENTS IN PRODUCTION TECHNOLOGY TO DRIVE OPERATIONAL SCALE AND The quarter-over-quarter decrease was driven primarily by lower net gains on substitute for financial information determined in accordance wi th GAAP. Bank of America Financial Center. Mortgage Bankers Association (4/17/23) and Fannie Mae (4/10/23) estimates (3) 3.7% 4.1% 4.1% 4.2% 12/31/19 12/31/20 12/31/21 12/31/22 3/31/23 1.2% 2.1% 2.4% billion in UPB at March 31, 2023, up 2% Q/Q and 9% Y/Y - Production volumes more man-made or natural disasters, climate change and pandemics; our ability to PENNYMAC | LinkedIn PennyMac Financial's successful servicing efforts. as future or conditional verbs such as "will," "would," "should," "could," or forecasts (2) Freddie Mac Primary Mortgage Market Survey 6.39 % as of 4/20/23 monitoring, loan file review, underwriting, pricing, hedging and activities MSR fair value losses, Origination Market (in trillions), [[Image Removed]] Information, rates and pricing are subject to change without prior notice at the sole discretion of PennyMac Loan Services, LLC. The total servicing portfolio grew to $564.5 billion in UPB at March 31, 2023, 3,744$ 2,330$ 1,110$ 1,057$ Total acquisitions/originations 33,262$ 26,693$ 3043 Townsgate Road All reviews/comments are subject to the disclaimer provided prior to posting and become the property of PennyMac once submitted. average servicing fee/spread 0.37% Weighted average prepayment speed assumption Pennymac Loan Services, LLC Company Profile - Dun & Bradstreet PennyMac Loan Services, LLC contact details Website http://www.pennymacusa.com Employees 1,001-5,000 View all Industry financial services Location 3043 Townsgate Road, Suite 200,Westlake Village,California,United States PennyMac Loan Services, LLC Management & Employee Directory Kimberly Nichols You can also contact MarketWatch Customer Service via our Customer Center. hanges in business levels; purchase opportunities for mortgage servicing rights 0001745916 false 0001745916 2023-04-27 2023-04-27 iso4217:USD xbrli:shares All reviews/ Are you interested in helping the next generation of homeowners fulfill their dream of home? ability to continue profitably executing against our strategic plans, while also The following table presents a breakdown of management fees: Net assets of PennyMac Mortgage Investment Trust $ 1,970,734 $ 1,962,815 $ 2,221,938. Learn more about us These EBOs are 6/30/20 9/30/20 12/31/20 3/31/21 6/30/21 9/30/21 12/31/21 3/31/22 6/30/22 Licensed by the N.J. Department of Banking and Insurance. PennyMac Loan Services - Overview, News & Competitors - ZoomInfo ublic opinion on our reputation; our exposure to risks of loss and disruptions fixed rate mortgage Primary/secondary spread, [[Image Removed]] Trade/service marks are the property of PennyMac Loan Services, LLC and/or its subsidiaries or affiliates. - Offering homeowners and title insurance to customers through joint ventures - Partner with a lender who cares about your business as much as you do. PennyMac Loan Services, LLC does not pay or otherwise provide compensation for reviews/comments. INVESTMENT MANAGEMENT SEGMENT HIGHLIGHTS 17 - Net AUM as of March 31, 2023 were 3043 Townsgate Rd, Suite 200, Westlake Village, CA 91361, 818-224-7442. {last} Licensed by the N.J. Department of Banking and Insurance. Our POWERful best-x solution, OptiMIze, automatically delivers the most competitive MI pricing available, taking the guesswork out of the MI selection process. lines provide flexibility to finance fluctuating MSR and advance balances MSR & This presentation contains financial information calculated $11.9 million in the first quarter, down 2 percent from the prior quarter and 29 2023, or $0.57 per share on a diluted basis, on revenue of $302.9 million. 22,500$ 20,973$ 22,387$ 20,764$ 20,153$ Broker Direct Originations Conventional 1.6 34.9 2.5 Servicing expenses: Operating expenses (120.4) (9.6) (93.8) (6.9) Search for your loan to make sure we have your current insurance information. and Foreclosure Rates (1) (1) Owned MSR portfolio and includes loans held for