david spector pennymac email
As our production mix continues to shift towards direct lending, production expenses as a percentage of fallout adjusted locks are expected to trend higher. And we ended the quarter with a servicing portfolio of $473 billion in unpaid principal balance, approximately 4% of all residential mortgage debt in the United States. And since the beginning of 2020, we have now repurchased over 18.5 million shares or approximately 24% of PFSI's common shares outstanding. We issued $650 million in an inaugural senior unsecured note offering, raised funding capacity with our banking partners, and enhanced our existing Ginnie Mae MSR financing structure to include servicing advances. And I'm pleased to be joined by PennyMac Financial Services CEO,. Thanks, Doug. This information is provided for illustrative purposes only. The shares were sold at an average price of $60.64, for a total transaction of $1,586,888.16. A number of research firms recently issued reports on PFSI. Origination volumes totaled $10.7 billion in UPB, while interest rate lock commitments totaled $14.1 billion. General assumptions include: XYZ firm would have been able to purchase the securities recommended by the model and the markets were sufficiently liquid to permit all trading. This outstanding income generated excess capital that we redeployed into increased levels of production, share repurchases, reduction of debt, and increased servicing activity. In the fourth quarter, PennyMac Financial delivered net income of 38 We have long-standing partnerships with several EBO loan investors, with a program in place to buy delinquent Ginnie Mae loans out of securitizations and sell them to these third-party investors. PennyMac | Better Business Bureau Profile Pricing margins in the channel decreased sharply, reflecting intense levels of competition between channel leaders. I will cover each segment's results and then briefly review our forbearance and servicing advance trends. 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. If youre new to trading, then youve probably heard the wrong thing about optionsthat theyre risky, unpredictable, or difficult. 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. The Production segment includes mortgage loan origination, acquisition, and sale activities. 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. Licensed by the N.J. Department of Banking and Insurance. David Spector received compensation valued at about $12,375,328 in 2020 after becoming . No P&I advances have been made to date, as prepayment activity continued to sufficiently cover remittance obligations. These businesses are foundational to PFSI and not easily replicated.