david spector pennymac email

With that, I will now turn the call over to Andy Chang, Senior Managing Director and Chief Operating Officer, who will review the mortgage origination landscape and the drivers of profitability for PFSI going forward. While such a market would be smaller than 2020, it would represent a large origination market by historical standards. Payoff-related expense, which includes interest shortfall and recording and release fees related to prepayments, remains elevated and increased by $8.3 million quarteroverquarter. Before we begin, let me remind you that our discussion contains forwardlooking statements that are subject to risks identified on Slide 2 that could cause our actual results to differ materially, as well as certain non-GAAP measures that have been reconciled to their GAAP equivalent. Mr. Spector owns 650,183 shares of PennyMac Financial Services stock worth more than $40,948,525 as of March 4th. The stock was sold at an average price of $58.12, for a total value of $741,030.00. We are also increasing the use of online closings and automation. We continue to originate record levels of volumes in this channel as a result of our large and growing servicing portfolio, efficient and low-cost infrastructure, advanced modeling and analytics, and the growth in sales and fulfillment capacity. Enter your email address below to get our daily insider buying and selling report. On Monday, February 27th, David Spector sold 15,000 shares of PennyMac Financial Services stock. Tower Research Capital LLC TRC Increases Stake in Centrus Energy Corp. Tower Research Capital LLC TRC Boosts Stock Position in Centrus Energy Corp. UBS Group AG Increases Position in Northern Oil and Gas, Inc. Tower Research Capital LLC TRC Increases Position in ABB Ltd (NYSE:ABB), Tower Research Capital LLC TRC Has $254,000 Holdings in Daqo New Energy Corp. (NYSE:DQ), ABB Ltd (NYSE:ABB) Shares Bought by Tower Research Capital LLC TRC, Tower Research Capital LLC TRC Increases Stake in Centrus Energy Corp. (NYSEAMERICAN:LEU), Tower Research Capital LLC TRC Boosts Stock Position in Centrus Energy Corp. (NYSEAMERICAN:LEU), UBS Group AG Increases Position in Northern Oil and Gas, Inc. (NYSE:NOG), Tower Research Capital LLC TRC Sells 3,797 Shares of Daqo New Energy Corp. (NYSE:DQ), Tower Research Capital LLC TRC Lowers Stake in Invesco Defensive Equity ETF (NYSEARCA:DEF), Tower Research Capital LLC TRC Acquires 94,572 Shares of Geron Co. (NASDAQ:GERN), Tower Research Capital LLC TRC Has $255,000 Stake in Geron Co. (NASDAQ:GERN), Gentherm Incorporated (NASDAQ:THRM) Stock Position Increased by Tower Research Capital LLC TRC, Tower Research Capital LLC TRC Sells 1,356 Shares of iShares Dow Jones U.S. ETF (NYSEARCA:IYY), Tower Research Capital LLC TRC Sells 4,212 Shares of Chesapeake Utilities Co. (NYSE:CPK), Tower Research Capital LLC TRC Has $260,000 Stock Position in Veradigm Inc. (NASDAQ:MDRX), Tower Research Capital LLC TRC Sells 2,680 Shares of The Toronto-Dominion Bank (NYSE:TD), Veradigm Inc. (NASDAQ:MDRX) Shares Bought by Tower Research Capital LLC TRC, UBS Group AG Has $3.26 Million Stock Holdings in Delek Logistics Partners, LP (NYSE:DKL), Tower Research Capital LLC TRC Decreases Stake in Westamerica Bancorporation (NASDAQ:WABC), Tower Research Capital LLC TRC Grows Stock Holdings in Barnes Group Inc. (NYSE:B), Woodside Energy Group Ltd (OTCMKTS:WOPEY) Shares Sold by UBS Group AG. This growth in production is not only due to the significant investments we have made in our production technology, which Doug will elaborate on later, but is also due to the considerable investments we have made in people. Net assets under management totaled $2.3 billion as of December 31, up 1% from September 30. 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 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. Please disable your ad-blocker and refresh. You can see the results of our hedging strategy in the full year view on slide 19. The stock was sold at an average price of $60.64, for a total value of $1,586,888.16. The stock was sold at an average price of $60.80, for a total value of $912,000.00. In July, originations for our consumer direct channel totaled $3.5 billion and locks totaled $5.5 billion. PennyMac Financial Services, Inc. Announces Doug Jones Joined Its Board The price of the stock has decreased by 14.5% since. PennyMac | Better Business Bureau Profile In order to protect the value of our MSR asset, we utilize a comprehensive hedging strategy. The firm has a 50 day moving average of $62.72 and a 200-day moving average of $56.17. Following the transaction, the chief executive officer now directly owns 650,183 shares in the company, valued at approximately $39,427,097.12. 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. 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. David Spector latest transaction was an Uninformative Buy of . Enter your email to receive our newsletter. Government correspondent locks were $15.7 billion, down 8% from the prior quarter and up 21% from the second quarter of 2020. We estimate we are now represent approximately 2.5% market share in the channel with over 2,000 brokers approved to offer our products, an increase of 11% from March 31, 2021. PennyMac is a mortgage lender and servicer headquartered in Westlake Village, California. We believe we will continue to increase their respective market positions as we execute on our growth initiatives in each channel. For more information, review Pennymac's state licenses and important notices. Sign up for a free account. Learn More about insider trades at PennyMac Financial Services. Changes in these assumptions may have a material impact on the backtested returns presented. Major name to depart PennyMac | Mortgage Professional 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). No P&I advances have been made to date, as prepayment activity continued to sufficiently cover remittance obligations. 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. Item 1.01 Entry into a Material Definitive Agreement. Looking at the consumer direct channel in the center column, we originated $8 billion in UPB of loans, up 27% from the prior quarter and 113% from the fourth quarter of 2019. This chart shows David Spector's buying and selling at PennyMac Financial Services by year and by quarter. Book value per share grew 5% to $54.49 at June 30. Lastly, originations in our broker direct channel totaled $4 billion in UPB, down 22% from the prior quarter. Pennymac Westlake Village, CA Office | Glassdoor 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. It operates through the following segments: Production, Servicing, and Investment Management. PennyMac Financial Services' insider roster includes Anne Mccallion (Director), Farhad Nanji (Director), and David Spector (CEO). Direct lending locks were up 13% from the prior quarter, total correspondent lock volume was up 9% and the servicing portfolio was up 6% from the end of the third quarter. Pennymac Financial Services Inc (PFSI) President & CEO David Spector We also repurchased approximately 1.6 million shares of PFSIs common stock, at an approximate cost of $89.3 million. Hedging and other gains of over $943 million largely offset an MSR fair value decrease of over $1.1 billion. 130 Westlake Village, CA, 91362 Get Directions. Our consumer direct lending division produced record origination and lock volumes again despite a smaller origination market in the second quarter. The technology based digital marketing platform, coupled with dedicated loan officers and an efficient operating processes, gives PennyMac a strong foundation for continued growth. David Spector - Chief Investment Officer - Penny Mac | LinkedIn Biography of David Spector - The Official Board PennyMac Financial Services, Inc. (NYSE:PFSI) Q4 2020 Earnings Conference Call February 4, 2021 4:30 PM ET, Isaac Garden - Vice President Investor Relations, David Spector - President and Chief Executive Officer, Doug Jones - Chief Mortgage Banking Officer. In the last year, insiders at the real estate investment trust sold shares 23 times. Please disable your ad-blocker and refresh. Please. PennyMac Mortgage Investment Trust (PMT) CEO David Spector on Q1 2021 With PFSIs historical focus on purchase market originations combined with our large and growing servicing portfolio, we believe we are well-positioned to successfully grow share in all three of our production channels, driving an increase in our overall market position. 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. Pennymac Cares | Thank You from President & CEO, David Spector 108,081 views Apr 21, 2020 Right now, we realize the importance of home like never before. This brings the total repurchases year-to-date to approximately $600 million. Dan Perotti , PFSIs Senior Managing Director and Chief Financial Officer will discuss the financials in more detail later on in this discussion. 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. PENNYMAC FINANCIAL SERVICES, INC. : Entry into a Material Definitive The firm engages in the production and servicing of U.S. residential mortgage loans. The total sale was $1.7 million. 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.

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