The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 1.46. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.29%. | 3 Mrz 2023. Mr. Spector earned a salary of $1,000,000.00, stock awards of $2,537,435.00, options awards of $1,101,254.00, non-equity compensation of $8,864,938.00, and other compensation of $71,597.00. Thank you. Isaac Garden - Investor Relations. 112 S. Lakeview Canyon Rd, Ste. The return on the trade was 60.70%. The committed pipeline at January 31 was $7.9 billion. On Wednesday, March 1st, David Spector sold 26,169 shares of PennyMac Financial Services stock. Actual performance may differ significantly from backtested performance. As Chairman & CEO of Pennymac Financial Services, Inc, David Spector has a total base salary of $1,000,000 . Thank you, Dan. At PennyMac, our commitment to our customers doesnt end at closing. Pretax income, excluding valuation-related items for the servicing segment, was $174.4 million, down 33% from the prior quarter and up 101% from the second quarter of 2020. Previously, Mr. Spector served as PennyMac Financials President and Chief Operating Officer. So while refinance origination volumes are expected to decline significantly over the next several years as a result of higher interest rates, we believe the outlook for PennyMac Financial remained strong, given our large profitable and growing servicing business, our position as one of the largest producers of purchase money loans in the U.S. and the continued expansion of our direct lending businesses. Our costs vary by channel, ranging from approximately 15 basis points in correspondent to 150 basis points in consumer direct. "I am delighted to announce Doug Jones' election to our. Search over 700 2023-03-02 | NYSE:PFSI | Press Release | PennyMac Financial Services Inc. The prepayment speeds of PennyMac Financial's sub-service portfolio, which includes mostly Fannie Mae and Freddie Mac mortgage servicing rights owned by PMT, decreased to 24.7% from 35.1%. Government correspondent locks were $15.7 billion, down 8% from the prior quarter and up 21% from the second quarter of 2020. This high level of efficiency was largely due to our cloud-based, proprietary servicing system, otherwise known as SSE. Advances are expected to continue increasing over the next 6 to 12 months. Other restrictions apply. The company reported a net income of $1 billion in 2021, down from a record of $1.6 billion in the previous year. Advances are expected to increase over the next few quarters as many property tax payments become due toward the end of the calendar year. David Spector latest transaction was an Uninformative Buy of . In January, our broker direct originations totaled $1.4 billion in UPB, and locks totaled $2.1 billion. Find the best performing Analyst in each sector. Equal Housing Opportunity 2023 PennyMac Loan Services, LLC, 3043 Townsgate Rd, Suite 200, Westlake Village, CA 91361, 818-224-7442. David Spector - Chief Investment Officer - Penny Mac | LinkedIn We are growing our best-in class tools and solutions we provide our brokers with to further enhance their self-service capabilities. PennyMac Financial Services, Inc. (NYSE:NYSE:PFSI) Q2 2021 Earnings Conference Call August 5, 2021 5:05 PM ETCompany ParticipantsIsaac Garden - Vice President, Investor RelationsDavid. PFSI | PennyMac Financial Services Inc. Company Profile & Executives - WSJ And with that, I would like to turn it back to David for some closing remarks. Pennymac Financial Services' profit sinks 31% in Q4 The percentage of profitable transactions made by David Spector is 44%. While the Pennymac workforce stays. The price of the stock has increased by 0.03% since. PennyMac Founder Stanford Kurland Passes Away - MBA Newslink Interest rate lock commitments in the fourth quarter totaled $12.8 billion in UPB, up 18% from the prior quarter, and 135% from the fourth quarter of 2019. David Spector. PFSIs owned servicing portfolio, which consists primarily of Ginnie Mae MSRs, had a 60 day plus delinquency rate of 10.2%, down from 11.4% at the end of the prior quarter, while our subserviced portfolio, primarily consisting of conventional loans, reported a 60 plus day delinquency rate of 2.7%, down from 3.7% at September 30 as borrowers continue to emerge from forbearance plans. Specifically, backtested results do not reflect actual trading or the effect of material economic and market factors on the decision-making process. PennyMac Financial's owned portfolio reported a prepayment speed of 28.3% in the second quarter, down from 32.6% in the prior quarter. PennyMac Financial Services Inc has a market cap of $4.16 billion; its shares were traded at around $57.450000 with a P/E ratio of 3.36 and P/S ratio of 1.35. And as our production mix continues to shift toward direct lending, production expenses as a percentage of fallout-adjusted locks are expected to trend higher. Thanks, Andy. This performance added to a remarkable year that saw PFSI achieve a return on equity of 62% with almost $200 billion in UPB of loans funded. The percentage of loans in forbearance decreased to 4.9% at June 30 from 6.3% at March 31, as borrowers in forbearance plans at March 31 who have since exited more than offset new forbearance plans. David A Spector, Pennymac Mortgage Investment: Profile and Biography PennyMac Financial Services, Inc. has a 12-month low of $38.53 and a 12-month high of $73.79. Our balanced business with our large and growing servicing portfolio also becomes an increasingly important component of our earnings as interest rates increase, and we believe this provides a competitive advantage relative to others when the industry's origination volumes return to more normalized levels. Susquehanna Fundamental Investments LLC raised its position in shares of PennyMac Financial Services by 24.8% during the 4th quarter. Please. What was David Spectors latest transaction? The predominant outcome has been through loan modifications to the borrowers to aid in their recovery. The stock was sold at an average price of $60.64, for a total value of $1,586,888.16. Pennymac Reviews in Los Angeles, CA | Glassdoor PennyMac, Homepoint and other lenders announce new leaders | National This concludes PennyMac Financial Services, Inc.s fourth quarter earnings discussion. Each of our business segments performed well during the fourth quarter as the continued low interest rate environment drove record production volumes across all of our channels. Please. Fourth quarter performance was very strong across loan production and servicing and we continue to see the strength of our balanced business model in our results. We believe PennyMac Financial's business model with production from the correspondent, consumer direct and broker direct channels contributes to PennyMac Financial's profitability across different production environments. Contact Us: We Are Here to Help You | Pennymac Following the transaction, the chief executive officer now directly owns 650,183 shares in the company, valued at approximately $39,427,097.12. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. the company. Main Telephone (818) 224-7442 Primary Address 3043 Townsgate Road Suite 200 Westlake Village, CA 91361 USA Fiscal Close December Founded 2008 PennyMac is a mortgage lender and servicer headquartered in Westlake Village, California. Now I'd like to begin by introducing David Spector, PennyMac Financial's Chairman and Chief Executive Officer, who will review the company's second quarter 2021 results. Stanford Kurland. All of these workflow and technology investments will improve the experience for the consumer and for the broker, improve productivity, specifically in sales and operations, which will enable higher volumes at a reduced cost to originate. As you will see on slide 10, we provide a breakdown of the revenue contribution from each of PFSI's loan production channels, net of loan origination expenses, including the fulfillment fees received from PMT for conventional correspondent loans. This was all done while the vast majority of our employees were working from home for most of the year. Speaker: David Spector - Chairman and Chief Executive Officer Thank you Isaac. And finally, PFSIs Board of Directors approved an increase to its stock repurchase authorization from $500 million to $1 billion of outstanding common stock. PennyMac Financial Services can also be reached via phone at (818) 224-7442 and via email at pfsi_ir@pnmac.com. Since the start of 2020, we have repurchased approximately 13% of the PFSI shares that were outstanding at the beginning of 2020. On slide 14, you can see the fair value of our MSR decreased by $251 million in the second quarter and included $196 million in fair value losses as a result of higher expectations for prepayment activity in the future driven by lower mortgage rates and a flatter yield curve, as well as an additional $55 million in other valuation declines. We have used our cloud-based technology systems to aid in scaling our businesses to the market and supported that growth with strategic hiring of employees. DO NOT SEND PAYMENTS TO THIS ADDRESS. Finally, broker direct originations totaled $4.5 billion in UPB in the fourth quarter, up 28% from the prior quarter and 215% percent from the fourth quarter of 2019. approve of David Spector's performance Founded 2008 Company size 5,001 to 10,000 Revenue $1B to $5B (USD) Industry Banking & Lending Headquarters Westlake Village, CA Link PENNYMAC website Pennymac (NMLS #35953) is a top national mortgage lender with over 4 million lifetime customers. David Spector Email Address Found 7 email address listings: @pennymacfinancial.com @countrywide.com @pennymacusa.com @pnmac.com @yahoo.com +2 more David Spector Phone Number Found 6 phone numbers: 818-292-XXXX 818-324-XXXX 818-224-XXXX 818-332-XXXX 212-761-XXXX +1 more View David's Email & Phone (It's Free) 5 free lookups per month. Lastly, our broker direct channel continued its impressive growth in both locked and funded volumes as we increase the number of approved brokers and our presence in the channel grows. Arizona Mortgage Banker License # 0911088. Further, backtesting allows the security selection methodology to be adjusted until past returns are maximized. Lastly, originations in our broker direct channel totaled $4 billion in UPB, down 22% from the prior quarter. Get contact details including emails and phone numbers Co-op loans not available. David Spector, Chairman & CEO, Director at PennyMac Mortgage, holds 259.60K shares in PennyMac Mortgage (Ticker: PMT), holds 1.10M shares in PennyMac Financial (Ticker: PFSI). PennyMac Financial Services, Inc. (PFSI) CEO David Spector on Q2 2021 We continue to invest in people, systems and processes across our businesses, laying the groundwork that would allow us to achieve the medium-term goals we outlined in our recent Investor Day. Finally, Barclays lifted their price objective on PennyMac Financial Services from $58.00 to $69.00 and gave the company an equal weight rating in a report on Friday, February 3rd. PennyMac TPO Contact Information Principal Mr. David Spector, President/CEO Customer Contact Mr. David Spector, President/CEO Additional Contact Information Phone Numbers (702). As David mentioned earlier, we sold $3.4 billion in UPB of EBO loans to third-party whole loan investors, up significantly from last quarter. Production segment pretax income was $572.6 million, down 7% from the prior quarter and up 182% from the fourth quarter of 2019, driven by continued growth in direct lending and strong performance across all channels. David Spector net worth, bio and Pennymac Financial Services, Inc Thanks, Doug. The Production segment includes mortgage loan origination, acquisition, and sale activities. Thank you. The estimated net worth of David A. Spector is at least $40.95 million as of March 1st, 2023. Our correspondent mix percentage was essentially unchanged from the previous quarter, as 35% of the acquisitions were government loans and 65% were conventional loans. Learn More on PennyMac Financial Services' active insiders. View David Spector's email address (d*****@pennym***.com) and phone number. Head over to our Expert Center to see a list of the, Invest Like a Pro with Unique Data & Simplifed Tools, See the Hottest Stocks Based on Insider Trading >. Insider Selling: PennyMac Financial Services, Inc. (NYSE:PFSI) CEO David A. Spector is a businessperson who has been the head of 9 different companies. Revenue per fallout-adjusted lock was 71 basis points, down from 140 basis points in the prior quarter. Download the Pennymac Mobile app from the App Store. The fair value of our MSR decreased modestly in the fourth quarter, driven by higher-than-expected prepayments, increased projections for short-term prepayments and elevated levels of early buyout activity. Pennymac's state licenses and important notices. Giving consideration to the pretax income from our record production, you can see that our hedging strategies were very successful at mitigating the impact of interest rate changes and MSR fair value losses on our income in 2020. The corporate mailing address for Mr. Spector and other PennyMac Financial Services executives is 3043 TOWNSGATE ROAD, WESTLAKE VILLAGE CA, 91361. StockNews.com raised PennyMac Financial Services from a sell rating to a hold rating in a report on Saturday, February 11th. Rhode Island Licensed Lender # 20092600LL, Loan Broker, and Third Party Loan Servicer. Strong production volumes across all 3 channels continue to drive the growth of our servicing portfolio despite the elevated level of prepayments. Net assets under management totaled $2.3 billion as of June 30, down slightly from March 31 and up 5% from June 30, 2020. PennyMac Loan Services, LLC Attention: Correspondence Unit PO Box 514387 Los Angeles, CA 90051-4387, Notice of Error and Information Requests Only. While margins across channels have come in lower from the third quarter, we saw the shift in Government correspondent margins come in the most towards more normalized levels. Broker originations in July totaled $1.2 billion and locks totaled $1.7 billion. The slides that accompany this discussion are available on PennyMac Financials website at ir.pennymacfinancial.com. Total correspondent loan acquisition volume was $46.7 billion, down 9% from the prior quarter and up 56% from the second quarter of 2020. If you have an ad-blocker enabled you may be blocked from proceeding. David Spector - Chairman & Chief Executive Officer, PennyMac Loan PennyMac Financial Services Inc provides mortgage loans to customers in the United States. Good morning and thank you for joining us. Thank you, David. On Monday, December 12th, David Spector sold 12,750 shares of PennyMac Financial Services stock. He currently serves as a senior advisor to TPG Capital, a global private investment firm, and . The UPB of completed modifications was $6.3 billion, up significantly from $4 billion last quarter and the UPB of EBO loan volume totaled $5 billion, also up significantly from last quarter as a result of the continued focus on loss mitigation activities. Please note all regulatory considerations regarding the presentation of fees must be taken into account. All rights reserved. Our higher-margin consumer direct lending channel continued to expand, producing record locked and funded volumes during the quarter, which we estimate has resulted in a significant increase in market share. In order to protect the value of our MSR asset we utilize a comprehensive hedging strategy. He previously served as Chief Correspondent Lending Officer and has been a member of the company's executive management team since 2011. The expertise of our deep management team, combined with the technology investments we have made, support PennyMac's growth strategy in a changing mortgage market. Having difficulty making payments? Susquehanna Fundamental Investments LLC now owns 85,385 shares of the real estate investment trusts stock worth $4,838,000 after purchasing an additional 16,980 shares during the last quarter. Posted by Defense World Staff on Mar 3rd, 2023. Its Time For A Fresh Look At The Kroger Co. West Frasers Earnings Scream Timber, Outlook Says Buy, MarketBeat.com's FREE daily email newsletter, Tower Research Capital LLC TRC Increases Position in ABB Ltd. Tower Research Capital LLC TRC Has $254,000 Holdings in Daqo New Energy Corp. ABB Ltd Shares Bought by Tower Research Capital LLC TRC.

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