PennyMac Financial Services

PennyMac Financial Services, Inc. operates as a holding company. The firm engages in the production and servicing of U.S. residential mortgage loans. It operates through the following segments: Production, Servicing, and Investment Management. The Production segment includes mortgage loan origination, acquisition, and sale activities. The Servicing segment offers servicing of originated mortgage loans and execution and management of early buyout transactions. The Investment Management segment consists of sourcing, performing diligence, bidding and closing investment asset acquisitions, managing correspondent production activities and managing the acquired assets. The company was founded by Stanford L. Kurland on July 2, 2008 and is headquartered in Westlake Village, CA.

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PennyMac reports solid Q4 earnings, poised for growth in 2023

PennyMac Financial Services (PFSI) delivered solid financial performance in Q4 2022, driven by strong net income and servicing portfolio growth. The company's strategic initiatives, including expense savings and stock buybacks, reflect a commitment to enhancing shareholder value.
Despite challenges in the mortgage market, PennyMac's balanced business model and operational efficiency position it well for 2023. The company's focus on financial stability, growth, and shareholder returns underscores its resilience and strategic foresight.
With opportunities to leverage its strong performance and navigate market dynamics, PennyMac is poised to capitalize on growth prospects and drive value creation. By staying agile and responsive to industry trends, the company can sustain its momentum and drive long-term success.

PennyMac Financial Services (PFSI) reports solid Q1 earnings and positions for growth

PennyMac Financial Services (PFSI) posts strong Q1 results, focusing on operational efficiency and growth. Challenges persist in the dynamic mortgage market, but strategic initiatives position PFSI well for future success. Opportunities lie in higher origination volumes and technology investments.

PennyMac Financial Services (PFSI) reports strong Q2 performance and growth opportunities

PennyMac Financial Services (PFSI) reports a strong Q2 performance with improved ROE and production margins. The company's strategic focus on hedging, leverage management, and growth opportunities positions it well for the future.

PennyMac Financial Services (PFSI) reports stellar Q3 performance and eyes growth opportunities

PennyMac Financial Services (PFSI) excelled in Q3 2023, demonstrating robust financial performance, strategic growth in its servicing portfolio, and a focus on customer acquisition. While facing challenges related to seasonal fluctuations, the company is poised to capitalize on opportunities in marketing, debt markets, and potential rate changes.

PennyMac Financial Services reports Q4 loss but eyes growth in origination market

PFSI navigated challenges in Q4 2023 to achieve a strong operating return on equity. Despite the arbitrator ruling against them, the company remains focused on growth opportunities in the origination market. By emphasizing rate and term refinances and maintaining a strong balance sheet, PFSI aims to capitalize on market trends and drive profitability.

PennyMac Financial Services reports solid Q1 earnings amidst market challenges

PFSI's Q1 performance reflects solid earnings and growth in servicing portfolio driven by loan acquisitions.
The company faces challenges from market uncertainties but is strategically focused on portfolio expansion.
Opportunities lie in expanding subservicing business, optimizing technology, and capitalizing on market conditions.
Overall, PFSI maintains profitability, strong consumer support, and a strategic growth trajectory.

PennyMac Financial Services reports robust earnings and eyes growth opportunities

PFSI delivered strong financial performance in Q2 2024, driven by robust mortgage loan activities and operational efficiencies.
The company's focus on cost management, dividend increase, and market leadership in lending segments underpin its solid position.
While challenges exist in operational management and market dynamics, PFSI's strategic positioning and liquidity offer growth opportunities.
Overall, PFSI's performance reflects resilience and strategic foresight in navigating the evolving mortgage market landscape.

PennyMac Financial Services reports strong Q3 performance and eyes growth opportunities

PFSI delivered strong financial performance in Q3, driven by robust production and origination market forecasts.
While facing challenges in the servicing segment, PFSI aims to maintain margins and drive down expenses.
Opportunities lie in market growth, channel expansion, and operational efficiency enhancements for sustained success.
Overall, PFSI's strategic focus on profitability and growth positions it well for future opportunities and challenges.

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PennyMac Financial Services, Inc. operates as a holding company, which engages in the production and servicing of U.S. residential mortgage loans. It operates through the following segments: Loan Production, Loan Servicing, and Investment Management. The Loan Production segment is sourced through three channels: correspondent production, consumer direct lending and broker direct lending. The Loan Servicing segment performs loan administration, collection, and default management activities. The Investment Management segment currently manages PennyMac Mortgage Investment Trust. The company was founded by Stanford L. Kurland on July 2, 2008 and is headquartered in Westlake Village, CA.

PennyMac Mortgage Investment

WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)--PennyMac Financial Services, Inc. (NYSE: PFSI) and PennyMac Mortgage Investment Trust (NYSE: PMT) announced today that Andrew S. Chang has decided to step down from the positions of Senior Managing Director and Chief Operating Officer of both PFSI and PMT on December 31, 2021, in order to pursue other interests. Mr. Chang will assume a new position as Special Advisor to the Chairman and CEO, David Spector, at PFSI and PMT. “Andy has been a dedicated le

PennyMac Announces Organizational Changes and Update on Kurland Family Investments, LLC

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PennyMac Financial Services, Inc. (PFSI) CEO David Spector on Q3 2021 Results - Earnings Call Transcript

WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)--PennyMac Financial Services, Inc. (NYSE: PFSI) today reported net income of $249.3 million for the third quarter of 2021, or $3.80 per share on a diluted basis, on revenue of $786.6 million. Book value per share increased to $58.00 from $54.49 at June 30, 2021. PFSI's Board of Directors declared a third quarter cash dividend of $0.20 per share, payable on November 24, 2021, to common stockholders of record as of November 15, 2021. Third Quarter 2021 Hi

PennyMac Financial Services, Inc. Reports Third Quarter 2021 Results

WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)--PennyMac Financial Services, Inc. (NYSE: PFSI) will announce results for the quarter ended September 30, 2021 in a news release to be issued after the market close on Thursday, November 4, 2021. The release will be available online at www.ir.pennymacfinancial.com. The Company's executives will review the results in a recorded presentation. The recording and accompanying slide presentation will be available on the Company's website concurrently with the

PennyMac Financial Services, Inc. Announces Date for Release of Third Quarter 2021 Results

The mean of analysts' price targets for PennyMac (PFSI) points to a 30.2% upside in the stock. While this highly sought-after metric has not proven reasonably effective, strong agreement among analysts in raising earnings estimates does indicate an upside in the stock.

Wall Street Analysts Think PennyMac (PFSI) Could Surge 30%: Read This Before Placing a Bet

WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)--PennyMac Financial Services, Inc. (NYSE: PFSI) (the “Company”) today announced that it has received the requisite consents to implement the Proposed Amendments (as defined below) to the indentures (the “Indentures”) governing its (i) 5.375% Senior Notes due 2025 (the “2025 Notes”) and (ii) 4.250% Senior Notes due 2029 (the “2029 Notes” and together with the 2025 Notes, the “Notes”) in connection with its previously announced solicitations of consents (

PennyMac Financial Services, Inc. Announces Receipt of Requisite Consents in Consent Solicitations for Each of Its 5.375% Senior Notes due 2025 and Its 4.250% Senior Notes due 2029

PennyMac (PFSI) seems to be a good value pick, as it has decent revenue metrics to back up its earnings, and is seeing solid earnings estimate revisions as well.

Why PennyMac (PFSI) Could Be a Top Value Stock Pick

WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)--PennyMac Financial Services, Inc. (NYSE: PFSI) (the “Company”) today announced that it has extended the expiration date of its previously announced solicitation of consents (the “Consent Solicitations”) from the holders of its (i) 5.375% Senior Notes due 2025 (the “2025 Notes”) and (ii) 4.250% Senior Notes due 2029 (the “2029 Notes” and together with the 2025 Notes, the “Notes”) for the adoption of proposed amendments (the “Proposed Amendments”) to the

PennyMac Financial Services, Inc. Announces Extension of Consent Solicitations for Each of Its 5.375% Senior Notes due 2025 and 4.250% Senior Notes due 2029 and Increase of Consent Fee for its 4.250% Senior Notes due 2029

WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)--PennyMac Financial Services, Inc. (NYSE: PFSI) and PennyMac Mortgage Investment Trust (NYSE: PMT) (collectively “PennyMac”), leading companies in the residential mortgage industry, announced they will now offer expanded conforming loan amounts up to at least $625,000 in all states and counties1 through their Broker and Correspondent channels. “With the recent run-up in home price appreciation affecting many markets throughout the country, we wanted to

PennyMac Companies Support Broker and Correspondent Partners By Offering Conforming High Balance Loan Amounts Up to $625,000 Nationally

PennyMac (PFSI) is technically in oversold territory now, so the heavy selling pressure might have exhausted. This along with strong agreement among Wall Street analysts in raising earnings estimates could lead to a trend reversal for the stock.

After Plunging 9.3% in 4 Weeks, Here's Why the Trend Might Reverse for PennyMac (PFSI)

WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)--PennyMac Financial Services, Inc. (NYSE: PFSI) (the “Company”) today announced that it is soliciting consents (the “Consent Solicitations”) from the holders of its (i) 5.375% Senior Notes due 2025 (the “2025 Notes”) and (ii) 4.250% Senior Notes due 2029 (the “2029 Notes” and together with the 2025 Notes, the “Notes”) for the adoption of proposed amendments (the “Proposed Amendments”) to the indentures governing the Notes (the “Indentures”) to conform t

PennyMac Financial Services, Inc. Announces Commencement of Consent Solicitations for Each of Its 5.375% Senior Notes due 2025 and its 4.250% Senior Notes due 2029

Intercontinental Exchange

PLEASANTON, Calif.--(BUSINESS WIRE)--ICE Mortgage TechnologyTM, part of Intercontinental Exchange, Inc. (NYSE: ICE), a leading global provider of data, technology and market infrastructure, today announced its latest partnership with PennyMac Loan Services LLC, a subsidiary of PennyMac Financial Services, Inc. (NYSE: PFSI). The integration with ICE Mortgage Technology's Encompass® Investor Connect will make PennyMac the largest correspondent aggregator within a network of correspondent investor

PennyMac Expands Use of ICE Mortgage Technology Suite with Encompass Investor Connect to Accelerate Correspondent Digitization

WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)--PennyMac Financial Services, Inc. (NYSE: PFSI) (the “Company”) today announced the pricing of its offering of $500 million aggregate principal amount of 5.750% Senior Notes due 2031 (the “Notes”). The Notes will bear interest at 5.750% per annum and will mature on September 15, 2031. Interest on the Notes will be payable semi-annually on March 15 and September 15 of each year, beginning on March 15, 2022. The Notes will be fully and unconditionally gua

PennyMac Financial Services, Inc. Announces Pricing of Private Offering of $500 Million of Senior Notes

WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)--PennyMac Financial Services, Inc. (NYSE: PFSI) (the “Company”) today announced that it intends to offer $500 million aggregate principal amount of Senior Notes due 2031 (the “Notes”). The Notes will be fully and unconditionally guaranteed on an unsecured senior basis by the Company's existing and future wholly owned domestic subsidiaries, other than certain excluded subsidiaries. The Company intends to use the net proceeds from this offering for genera

PennyMac Financial Services, Inc. Announces Proposed Private Offering of $500 Million of Senior Notes

WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)--PennyMac Financial Services, Inc. (NYSE: PFSI) announced today that its Chairman and Chief Executive Officer, David A. Spector, and Senior Managing Director and Chief Financial Officer, Daniel S. Perotti, will participate in a fireside chat discussion at the Barclays Global Financial Services Conference at 12:45 p.m. Eastern Time on Wednesday, September 15, 2021. A link to the live audio webcast will be available on PennyMac Financial Services' Investo

PennyMac Financial Services, Inc. to Present at the 2021 Barclays Global Financial Services Conference

PennyMac Financial Services, Inc. (PFSI) CEO David Spector on Q2 2021 Results - Earnings Call Transcript

PennyMac (PFSI) delivered earnings and revenue surprises of -15.52% and -7.47%, respectively, for the quarter ended June 2021. Do the numbers hold clues to what lies ahead for the stock?

PennyMac Financial (PFSI) Q2 Earnings and Revenues Lag Estimates

Shares of PennyMac Financial Servs (NYSE:PFSI) were flat in after-market trading after the company reported Q2 results. Quarterly Results Earnings per share were down 33.03% over the past year to $2.94, which missed the estimate of $3.54.

Recap: PennyMac Financial Servs Q2 Earnings

WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)--PennyMac Financial Services, Inc. (NYSE: PFSI) today reported net income of $204.2 million for the second quarter of 2021, or $2.94 per share on a diluted basis, on revenue of $742.3 million. Book value per share increased to $54.49 from $51.78 at March 31, 2021. PFSI's Board of Directors declared a second quarter cash dividend of $0.20 per share, payable on August 26, 2021, to common stockholders of record as of August 16, 2021. PFSI's Board of Direct

PennyMac Financial Services, Inc. Reports Second Quarter 2021 Results

PennyMac (PFSI) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

PennyMac Financial (PFSI) Expected to Beat Earnings Estimates: Should You Buy?

WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)--PennyMac Financial Services, Inc. (NYSE: PFSI) will announce results for the quarter ended June 30, 2021 in a news release to be issued after the market close on Thursday, August 5, 2021. The release will be available online at www.ir.pennymacfinancial.com. The Company's executives will review the results in a recorded presentation. The recording and accompanying slide presentation will be available on the Company's website concurrently with the news r

PennyMac Financial Services, Inc. Announces Date for Release of Second Quarter 2021 Results

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News for PennyMac Financial Services Stock (PFSI)