david spector pennymac email

David Spector Work Experience and Education Work Experience Chairman & Chief Executive Officer PennyMac Mortgage Investment Trust 2007-2022 Chief Credit Officer Santander Consumer USA 2013-2016 Co-Head of Global Residential Mortgages Morgan Stanley 2005-2008 Global Managing Director, Banking & Markets Bank of America 2004-2010 Education PennyMac Financial's servicing portfolio totaled $473 billion in unpaid principal balance at June 30, up 5% from the end of the prior quarter and 22% from June 30, 2020. PennyMac Financial Services Inc provides mortgage loans to customers in the United States. Equal Housing Opportunity 2023 PennyMac Loan Services, LLC, 3043 Townsgate Rd, Suite 200, Westlake Village, CA 91361, 818-224-7442. Learn More on David A. Spector's trading history. This hedging strategy is designed to moderate the impact of interest rate changes on the fair value of our MSR asset and also considers production-related income. We also remain very active repurchasing shares driven by our medium-term expectations for PFSI's return on equity. Series 2023-GTL1 Loan On February 28, 2023, PennyMac Financial Services, Inc. (the "Company"), through two of its indirect, wholly owned subsidiaries, PNMAC GMSR ISSUER TRUST ("Issuer Trust") and PennyMac Loan Services, LLC ("PLS"), entered into a syndicated series of term notes (the "Series 2023-GTL1 Loan"), as part of the structured . PennyMac Financial's owned portfolio reported a prepayment speed of 28.3% in the second quarter, down from 32.6% in the prior quarter. The company reported a net income of $1 billion in 2021, down from a record of $1.6 billion in the previous year. The committed pipeline at January 31 was $7.9 billion. While our employee base grew by 60% during the year, our production volumes grew by 67% and our earnings increased by 328%. 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. Please take a moment to watch a special video from our President and CEO, David Spector. The direct lending channels have an outsized impact on PFSI's production earnings, as Andy mentioned earlier. North Carolina Permit No. | 3 Mrz 2023. Purchase originations in 2021 are forecasted to increase 10% year-over-year while refinance originations are expected to decrease but remain elevated relative to historical norms. Backtested performance is not an indicator of future actual results. The price of the stock has increased by 0.03% since. The results reflect performance of a strategy not historically offered to investors and does not represent returns that any investor actually attained. This financial performance is driven by the balanced business model in mortgage banking that we have built over the last 13 years. And while we believe the mortgage market will continue to change from a competitive and regulatory perspective, the infrastructure and risk management disciplines that distinguish PennyMac from others in the industry position us well. Get notified the next time David A. Spector buys or sells PennyMac Financial Services stock. And finally, PMT, the investment vehicle that PFSI manages was able to largely preserve its book value in 2020 which led to solid results in PFSIs Investment Management segment. PennyMac Financial delivered another outstanding quarter of operational and financial performance, despite the increased volatility in the mortgage market. While industry production margins declined in the second quarter, we saw a smaller decrease in overall production margin given the mix shift towards our consumer direct lending channel. Conventional correspondent acquisitions, for which PFSI earns a fulfillment fee from PMT, totaled $38 billion in UPB, up 39% from the prior quarter and 85% from the fourth quarter of 2019. Ultimately, we believe for these reasons, PennyMac will continue its market share growth as a channel leader. And we believe the role of a well capitalized correspondent aggregator like PennyMac will be increasingly important over time. Our balanced business model is a key strategic advantage for PFSI, which has consistently delivered outstanding returns across different environments, producing a 33% return on equity for the first half of 2021. Pennymac has 10 current employee profiles, including President and Chief Executive Officer David Spector. On Wednesday, March 1st, David Spector sold 26,169 shares of PennyMac Financial Services stock. The average return per transaction made by David Spector is 3.50%. Insiders at PennyMac Financial Services own 18.0% of the company. The stock was sold at an average price of $60.80, for a total value of $912,000.00. Additionally, we believe FHFA's elimination of the adverse market refinance fee has resulted in a larger population of loans that would benefit from a refinance at today's lower rates, further supporting the origination market. PennyMac Mortgage Investment Trust (NYSE:PMT) Q1 2021 Earnings Conference Call May 6, 2021 5:00 PM ETCompany Participants. In July, our correspondent acquisitions were $15 billion in UPB and locks were $12.8 billion. Government loan acquisitions in the quarter totaled $18.9 billion in UPB, up 11% from the prior quarter and up 14% from the fourth quarter of 2019. On Monday, December 12th, David Spector sold 12,750 shares of PennyMac Financial Services stock. This growth has focused on new customer acquisition and resulted in our non-portfolio interest rate lock commitments hitting a record in the fourth quarter at 1.3 billion, up from 906 million in the third quarter, an increase of 43%. Now Id like to begin by introducing David Spector, PennyMac Financials President and Chief Executive Officer who will review the Companys fourth quarter and full year 2020 results. In the last year, insiders at the real estate investment trust sold shares 23 times. These transactions provide PennyMac the additional capacity and liquidity to efficiently execute loss mitigation strategies as sales of these loans to third parties also eliminate the potential for associated margin calls. Revenue per fallout-adjusted lock was 71 basis points, down from 140 basis points in the prior quarter. The corporate mailing address for Mr. Spector and other PennyMac Financial Services executives is 3043 TOWNSGATE ROAD, WESTLAKE VILLAGE CA, 91361. As you can see on slide seven of our presentation, PennyMac maintained its leadership position in the correspondent channel, and we estimate that we currently represent approximately 18% of the channel overall. The direct lending channels continued to have an outsized impact on PFSIs production earnings in the fourth quarter. No P&I advances are outstanding as prepayment activity continued to sufficiently cover remittance obligations. The shares were sold at an average price of $60.64, for a transaction totalling $1,586,888.16. 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. Contact our customer service team with any inquiries by sending us a message through the Message Center by simply logging in to your account. 292 Pennymac reviews in Los Angeles, CA. Maverick Capital Ltd. now owns 7,468 shares of the real estate investment trusts stock worth $423,000 after purchasing an additional 1,873 shares during the last quarter. Pennymac Westlake Village, CA office. Business Incorporated: 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. Pennymac's state licenses and important notices. If you're not automatically redirected, please click here. Conventional correspondent acquisitions, for which PFSI earns a fulfillment fee from PMT, totaled $30.5 billion, down 10% from the prior quarter and up 61% from the second quarter of 2020. The decrease from the prior quarter was primarily driven by a $76 million decrease in EBO loan-related revenue. PennyMac Financial Services Inc had annual average EBITDA growth of 35.90% over the past five years. This high level of efficiency was largely due to our cloud-based, proprietary servicing system, otherwise known as SSE. Thank you for sharing your valuable opinion. Massachusetts Mortgage Lender License # MC35953. The number of approved brokers totaled 1,574, up 11% over the end of the third quarter. Trade/service marks are the property of PennyMac Loan Services, LLC and/or its subsidiaries or affiliates. T. Rowe Price Investment Management Inc. now owns 4,992,531 shares of the real estate investment trusts stock worth $282,877,000 after purchasing an additional 256,717 shares during the last quarter. You can see the results of our hedging strategy in the full year view on slide 19. Rhode Island Licensed Lender # 20092600LL, Loan Broker, and Third Party Loan Servicer. Up to 5 PennyMac Financial Services, Inc. (NYSE:PFSI Get Rating) CEO David Spector sold 26,169 shares of the firms stock in a transaction dated Wednesday, March 1st. Similarly, lock volume totaled $4.5 billion, down 21%. David Spectors most profitable transaction was an Informative Sell of PMT stock on March 22, 2019. Download the Pennymac Mobile app from the App Store. Are you interested in helping the next generation of homeowners fulfill their dream of home? David Spector President and Chief Executive Officer Lior Ofir Senior Managing Director & Chief Information Officer Stanford L. Kurland Executive Chairman Amir Pirnia SVP Engineering Learn More on David A. Spector's trading history. And finally, PFSIs Board of Directors approved an increase to its stock repurchase authorization from $500 million to $1 billion of outstanding common stock. The Servicing segment recorded pretax income of $42 million, down from pretax income of $111.7 million in the prior quarter and up from a pretax loss of $5.1 million in the fourth quarter of 2019. Thank you. PennyMac Financial Services can also be reached via phone at (818) 224-7442 and via email at [emailprotected] Learn More on David A. Spector's contact information. Strong production volumes across all 3 channels continue to drive the growth of our servicing portfolio despite the elevated level of prepayments. PennyMac Financial Services, Inc. (NYSE:PFSI) Q2 2021 Earnings Conference Call August 5, 2021 5:05 PM ET, Isaac Garden - Vice President, Investor Relations, David Spector - Chairman & Chief Executive Officer, Andy Chang - Senior Managing Director & Chief Operating Officer, Doug Jones - President & Chief Mortgage Banking Officer, Dan Perotti - Senior Managing Director & Chief Financial Officer. BBB File Opened: 2/5/2015. The return on the trade was 60.70%. With the large and growing servicing portfolio and an industry leading correspondent production group, PFSI is an established leader with a growing presence across all facets of mortgage banking. Please note all regulatory considerations regarding the presentation of fees must be taken into account. David A Spector, Pennymac Mortgage Investment: Profile and Biography - Bloomberg Markets Markets Trafigura's Nickel Nemesis Was Already Notorious in Metal Circles The Week Your Saturday UK. PennyMac Financial Services' insider roster includes Anne Mccallion (Director), Farhad Nanji (Director), and David Spector (CEO). Finally, our Mortgage Fulfillment Division is making enhancements to further automate and improve the production and distribution of loan documents. Our investment management segment delivered pretax income of $4.1 million, up from $1.4 million in the prior quarter as a result of incentive fees earned and down from $4.7 million in the second quarter of 2020. And, we continue to enhance our MAC portal, thus improving the ability for borrowers to self-service throughout the entire origination process. Susquehanna Fundamental Investments LLC raised its position in shares of PennyMac Financial Services by 24.8% during the 4th quarter. free lookups / month. Sign up for a free account. Revenue per fallout adjusted lock for PFSIs own account was 217 basis points in the fourth quarter, down slightly from 236 basis points in the third quarter. Payoff-related expense, which includes interest shortfall and recording and release fees related to prepayments, remains elevated and increased by $8.3 million quarteroverquarter. 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. We believe the growth opportunities in front of us to be substantial and as we continue to grow our direct lending channels, we expect PennyMac Financials exceptional financial performance to persist through 2021. As Andy described earlier, all of this record production feeds our servicing portfolio, which at December 31, 2020 totaled $426.8 billion in UPB, up 6% from the end of the third quarter and up 16% over the end of 2019. He currently serves as a senior advisor to TPG Capital, a global private investment firm, and . On Monday, December 12th, David Spector sold 12,750 shares of PennyMac Financial Services stock. Over the years, PennyMac Financial has proven its ability to generate profits and value across various market environments, resulting in attractive returns on equity, with an average ROE of 24% over our last 7 plus years as a public company. Licensed by the Department of Financial Protection and Innovation under the California Residential Mortgage Lending Act. As of the end of the year we have helped, or are in the process of helping, approximately 145,000 borrowers successfully emerge from their forbearance plans. 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. Stockholders of record on Tuesday, February 14th were given a dividend of $0.20 per share. David A. Spector has been President and Chief Executive Officer of PennyMac Financial Services, Inc. (NYSE: PFSI) since January 2017, and he has been a member of PennyMac Financials board of directors since the companys formation in January 2008. The percentage of loans in forbearance decreased to 7.8% at December 31 from 10.1% at September 30 as new forbearance plans implemented since September 30 were more than offset by borrowers in forbearance plans at September 30 who have since exited. Our costs vary by channel, ranging from approximately 15 basis points in correspondent to 150 basis points in consumer direct. During 2020 we added over 2,000 employees to the PennyMac team to expand our workforce to more than 6,000. Backtested results are adjusted to reflect the reinvestment of dividends and other income and, except where otherwise indicated, are presented gross-of fees and do not include the effect of backtested transaction costs, management fees, performance fees or expenses, if applicable. Specifically, backtested results do not reflect actual trading or the effect of material economic and market factors on the decision-making process. Government loan acquisitions in the quarter totaled $16.2 billion, down 7% from the prior quarter and up 47% from the second quarter of 2020. David Spector's most profitable transaction was an Informative Sell of PMT stock on March 22, 2019. For servicing on your existing mortgage account with Pennymac. We'll review your feedback and if you chose to be contacted, we will respond within 1-2 business days. Hedging and related gains totaled $91 million. 18.5 million shares or approximately 24% of PFSI's common shares outstanding. Our consumer direct lending division produced record origination and lock volumes again despite a smaller origination market in the second quarter. The shares were sold at an average price of $60.64, for a total transaction of $1,586,888.16. The committed pipeline at July 31 was $7.2 billion. In our broker direct channel, we are focused on further reducing the length of our loan origination cycle via workflow enhancements and upgrades to our broker portal, POWER. PennyMac. Is this happening to you frequently? Stanford Kurland. T. Rowe Price Investment Management Inc. raised its position in shares of PennyMac Financial Services by 5.4% during the 4th quarter. 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. The barriers to entry for these businesses that require scale for success provide PFSI a strategic advantage over our competitors. 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. 130 Westlake Village, CA, 91362 Get Directions. Net income in the fourth quarter was the second highest in the history of the company. Company profile for PennyMac Financial Services Inc. including key executives, insider trading, ownership, revenue and average growth rates. As we continue to grow our leadership positions in the direct origination channels, this growth will drive the earnings from PennyMac Financial's production segment. Since trades have not actually been executed, results may have under- or over-compensated for the impact, if any, of certain market factors, such as lack of liquidity, and may not reflect the impact that certain economic or market factors may have had on the decision-making process. January 25, 2021. Hedging and other gains of over $943 million largely offset an MSR fair value decrease of over $1.1 billion. His family and PennyMac, which announced his passing, said he died from complications . President & CEO of Pennymac Financial Services Inc (30-Year Financial, Insider Trades) David Spector (insider trades) sold 30,000 shares of PFSI on 01/12/2021 at an average price of $57.43 a share. However, he will become a special advisor to David Spector, chairman and chief . Consumer and broker direct represented 20% of fallout adjusted lock volume in the fourth quarter but accounted for over 70% of segment pretax income. #PennymacCaresVisit PENNYMAC.COM for details about how were assisting our family of customers during the COVID-19 crisis. As you can see on the selected operational metrics on slide 13, PennyMac Financials owned portfolio reported a prepayment speed of 32.5% in the fourth quarter, up from 29.7% in the prior quarter. The shares were sold at an average price of $60.80, for a total transaction of $912,000.00. PFSI's Board of Directors also declared a second quarter cash dividend of $0.20 per share. Servicing advances outstanding were approximately $454 million at December 31, up from $346 million at September 30, primarily associated with seasonal tax payments. For any questions, please visit our website at ir.pennymacfinancial.com, or call our Investor Relations department at 8182644907. 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