david spector pennymac email

Jeffrey W. Martin Sells 10,413 Shares of Sempra (NYSE:SRE) Stock, Robert Brian Mitchell Sells 38,000 Shares of Globe Life Inc. (NYSE:GL) Stock, Get a free copy of the StockNews.com research report on PennyMac Financial Services (PFSI), Hormel Hits 2-Year Low, And The Dip Gets Bought, Heres Why Ross Could Soon Be Hitting All Time Highs. 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. 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. Roles that David Spector holds in companies, The most profitable trade made by David Spector, List of latest transactions for each holding click on a transaction to see David Spector's performance on stock. 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. PennyMac Financial Services, Inc. (NYSE:PFSI) CEO Sells $912,000.00 in Pennymac Westlake Village, CA Office | Glassdoor PennyMac | Better Business Bureau Profile January 25, 2021. Net income in the fourth quarter was the second highest in the history of. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. Having difficulty making payments? Some products may not be available in all states. Insider Selling: PennyMac Financial Services, Inc. (NYSE:PFSI) CEO We encourage investors with any questions to reach out to our Investor Relations team by e-mail or phone. What is David Spector's role in PennyMac Mortgage? Revenue per fallout-adjusted lock was 71 basis points, down from 140 basis points in the prior quarter. 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. 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. Net assets under management were down slightly quarter-over-quarter to $2.3 billion. The direct lending channels have an outsized impact on PFSI's production earnings, as Andy mentioned earlier. StockNews.com raised PennyMac Financial Services from a sell rating to a hold rating in a report on Saturday, February 11th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.29%. T. Rowe Price Investment Management Inc. raised its position in shares of PennyMac Financial Services by 5.4% during the 4th quarter. During the last ninety days, David A. Spector has sold $2,498,888.16 in shares of PennyMac Financial Services stock. PennyMac remained the largest correspondent aggregator in the U.S. in the fourth quarter. 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. Servicing advances outstanding were approximately $454 million at December 31, up from $346 million at September 30, primarily associated with seasonal tax payments. These record volumes resulted in the growth of our servicing portfolio to $427 billion in UPB, despite extraordinary levels of prepayment activity. The ex-dividend date was Monday, February 13th. View detailed PFSI description & address. So, from our home to yours, thank you! PennyMac Mortgage Investment Trust (PMT) CEO David Spector on Q1 2021 David Spector Sells 26,169 Shares of PennyMac Financial Services, Inc We'll review your feedback and if you chose to be contacted, we will respond within 1-2 business days. Dan Perotti , PFSIs Senior Managing Director and Chief Financial Officer will discuss the financials in more detail later on in this discussion. PennyMac Loan Services, LLC Attention: Correspondence Unit PO Box 514387 Los Angeles, CA 90051-4387, Notice of Error and Information Requests Only. PennyMac Financial Services, Inc. (NYSE: PFSI) announced today that Doug Jones, President and Chief Mortgage Banking Officer, joined its Board of Directors effective March 1, 2023. The stock was sold at an average price of $60.80, for a total value of $912,000.00. David served as President and Chief Investment Officer and President and Chief Operating Officer for PennyMac. Pennymac - Contacts, Employees, Board Members, Advisors & Alumni BBB File Opened: 2/5/2015. Senior Managing Director and Chief Financial Officer, will discuss our financial performance in more detail later on in his discussion. David Spector's role in PennyMac Mortgage is Chairman & CEO, Director. Years in Business: 14. Business Started: 3/25/2008. 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. Now I'd like to begin by introducing David Spector, PennyMac Financial's Chairman and Chief Executive Officer who will review the Company's fourth quarter and full-year 2022 results. Lastly, I would like to touch on the trends we are seeing related to forbearance and loss mitigation. The return on the trade was 60.70%. 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. As you can see on slide 10 of the presentation, consumer and broker direct represented 23% of fallout-adjusted lock volume in the second quarter but accounted for approximately 70% of segment pretax income. 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. Thanks, Doug. Massachusetts Mortgage Lender License # MC35953. These businesses are foundational to PFSI and not easily replicated. The barriers to entry for these businesses that require scale for success provide PFSI a strategic advantage over our competitors. For any questions, please visit our website at ir.pennymacfinancial.com, or call our Investor Relations department at 8182644907. 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. Download the Pennymac Mobile app from the App Store. PennyMac Financial Services, Inc. a annonc que Doug Jones, prsident et directeur des services hypothcaires, a rejoint son conseil d'administration compter du 1er mars 2023. 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. The price of the stock has decreased by 14.5% since. 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. 2023-03-02 | NYSE:PFSI | Press Release | PennyMac Financial Services Inc. These strong production volumes again led to servicing portfolio growth despite continued elevated prepayment activity. He previously served as Chief Correspondent Lending Officer and has been a member of the company's executive management team since 2011. Please. PennyMac. 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. PennyMac Financial Services, Inc. (PFSI) CEO David Spector on Q2 2021 Mr. Spector owns 650,183 shares of PennyMac Financial Services stock worth more than $40,948,525 as of March 4th. Revenue per fallout-adjusted lock was 343 basis points in the quarter, a decrease from the first quarter. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 1.46. A free inside look at company reviews and salaries posted anonymously by employees. As our production mix continues to shift towards direct lending, production expenses as a percentage of fallout adjusted locks are expected to trend higher. While 2020 was a record, we have a long track record of strong performance. Lastly, we encourage investors with any questions to reach out to our Investor Relations team by email or phone. PennyMac Financial Services, Inc. Announces Doug Jones Joined Its Board Earnings per share grew 328% for the year with net income up 319%. Our capital markets group achieved significant hedging gains that largely offset $1.1 billion in MSR fair value losses over the year, which were driven by historically low interest rates and fast prepayment speeds. January 25, 2021, 12:31 p.m. EST 1 Min Read. The slides that accompany this discussion are available on PennyMac Financial's website at ir.pennymacfinancial.com. And with that, I would like to turn it back to David for some closing remarks. 33% of correspondent acquisitions were government loans and 67% were conventional loans. 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. #PennymacCaresVisit PENNYMAC.COM for details about how were assisting our family of customers during the COVID-19 crisis. As David mentioned earlier PFSIs net income was $452.8 million or diluted earnings per share of $5.97. The stock was sold at an average price of $60.64, for a total value of $1,586,888.16. David Spector. Our phased approach to returning to our offices extends beyond simply ensuring that PennyMacers return to a safe working environment, but also takes mindful consideration for the challenges faced by our employees related to issues such as dependent care and schooling. Transcript : PennyMac Financial Services, Inc. Presents at Barclays DO NOT SEND PAYMENTS TO THIS ADDRESS. As you will see on slide 20, we provide a breakdown of the revenue contribution from each of PFSIs loan production channels, net of loan origination expenses, including the fulfillment fees received from PMT for conventional correspondent loans. His family and PennyMac, which announced his passing, said he died from complications . Our large production volumes fuel the organic growth of our servicing portfolio, leading to a larger recurring stream of earnings. 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. 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. 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. Biography of David Spector - The Official Board No cash balance or cash flow is included in the calculation. Government correspondent locks were $15.7 billion, down 8% from the prior quarter and up 21% from the second quarter of 2020. 67.03% of the stock is currently owned by institutional investors and hedge funds. Trade/service marks are the property of PennyMac Loan Services, LLC and/or its subsidiaries or affiliates. What is the average return per transaction made by David Spector? Please take a moment to watch a special video from our President and CEO, David Spector. The opportunity to grow these newer channels is exciting and provides PFSI a multi-channel, diversified and profitable production segment that will further grow the servicing portfolio with high quality assets. Sign up for a free account. The firm engages in the production and servicing of U.S. residential mortgage loans. If you need the payment address, click here. Chief Enterprise Ops Officer Jeffrey Grogin sold 13,521 shares of PFSI stock on 01/04/2021 at the average price of $62.53. These valuation declines were primarily driven by significant levels of prepayment activity and early buyouts. We are growing our best-in class tools and solutions we provide our brokers with to further enhance their self-service capabilities. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the companys stock. Hedge funds and other institutional investors have recently modified their holdings of the stock. Net income was $204 million or diluted earnings per share of $2.94, representing an annualized return on equity of 23%. 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. For licensing information, go to: www.nmlsconsumeraccess.org. And for the month of July, we repurchased an additional 2.5 million shares for an approximate cost of $151 million. Follow them so you never miss a recommendation. And I'm pleased to be joined by PennyMac Financial Services CEO,. As you can see on slide 11, approximately $37 billion of portfolio runoff in the second quarter was more than offset by the addition of $61 billion in total production. Since the start of 2020, we have repurchased approximately 13% of the PFSI shares that were outstanding at the beginning of 2020. Thank you. The direct lending channels continued to have an outsized impact on PFSIs production earnings in the fourth quarter. No P&I advances have been made to date, as prepayment activity continued to sufficiently cover remittance obligations. I will cover each segment's results and then briefly review our forbearance and servicing advance trends. 112 S. Lakeview Canyon Rd, Ste. We estimate that our market share in the channel has increased meaningfully since last year, and we now account for approximately 1.3% of total originations in the channel. 3043 Townsgate Road, Suite 200, Westlake Village, California 91361, US, View Thank you, David. Learn More on David A. Spector's trading history. While Kurland had been battling brain cancer, the cause of death was attributed to complications from COVID-19, separate . GuruFocus has detected 5 severe warning signs with PennyMac Financial Services Inc. . And we believe the role of a well capitalized correspondent aggregator like PennyMac will be increasingly important over time. Minnesota: This is not an offer to enter into an agreement and an offer may only be made pursuant to Minn. Stat. We quickly developed a plan to deal with the COVID-19 pandemic and the various work from home orders across the nation. Director, 10% Owner Stanford L Kurland sold 31,000 shares of PFSI stock on 12/23/2020 at the average price of $67.19. 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. Schonfeld Strategic Advisors LLC raised its position in shares of PennyMac Financial Services by 822.2% during the 4th quarter. 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. GuruFocus has detected 8 Warning Signs with PFSI. Pennymac's state licenses and important notices. As we outlined in our Investor Day, we see additional opportunities resulting from changes to the GSE's preferred stock purchase agreement. 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. 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. 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. You will be contacted by a representative that will help answer any inquiries you have. Learn More on PennyMac Financial Services' active insiders. Our consumer direct lending division produced record origination and lock volumes again despite a smaller origination market in the second quarter. Backtested performance is developed with the benefit of hindsight and has inherent limitations. 47.206 (3) & (4). Good afternoon, and welcome to the Fourth Quarter and Full-Year 2020 Earnings discussion for PennyMac Financial Services, Inc. In July, our correspondent acquisitions were $15 billion in UPB and locks were $12.8 billion. While many of these employees aided in our record production growth and increased servicing activities due to COVID, these hires were consistent with PFSIs long-term strategy. Our direct lending channels, which include both our consumer direct lending and broker direct lending, have experienced faster growth and are becoming much more significant contributors to PFSIs earnings profile. The price of the stock has decreased by 8.12% since. PennyMac Financial Services, Inc. has a 12-month low of $38.53 and a 12-month high of $73.79. PDF PennyMac Financial Services, Inc. The Servicing segment offers servicing of originated mortgage loans and execution and management of early buyout transactions. Government correspondent locks were $19.7 billion in UPB, down 2% from the prior quarter and up 22% from the fourth quarter of 2019. Finally, our Mortgage Fulfillment Division is making enhancements to further automate and improve the production and distribution of loan documents. The slides that accompany this discussion are available on PennyMac Financials website at ir.pennymacfinancial.com. 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. 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. Importantly, and as Doug Jones, Senior Managing Director and Chief Mortgage Banking Officer, will expand on in his section of the presentation, we sold $3.4 billion in UPB of early buyout loans to third-party whole loan investors, thus reducing the risk associated with holding these loans and increasing our capital efficiency. The results reflect performance of a strategy not historically offered to investors and does not represent returns that any investor actually attained. Is this happening to you frequently? What was David Spectors latest transaction? Thanks, Andy. Please note all regulatory considerations regarding the presentation of fees must be taken into account. Pennymac Financial Services Inc (PFSI) President & CEO David Spector PFSI's Investment Management segment delivered increased profitability as a result of incentive fees earned based on PMT's profitability over the last 4 quarters. the financials in more detail later on in this discussion. This outstanding income generated excess capital that we redeployed into increased levels of production, share repurchases, reduction of debt, and increased servicing activity. Contact Us: We Are Here to Help You | Pennymac Servicing advances outstanding decreased to approximately $424 million at June 30 from $437 million at March 31. While we experienced hedging losses in the quarter, the decrease was more than offset by PFSIs production income. Margins in our consumer direct channel still remain elevated relative to historical levels. Chang (pictured), who has been with PennyMac since 2008, will step down from his roles at the end of the year. PFSI's Board of Directors also declared a second quarter cash dividend of $0.20 per share. Similar Profiles. 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. David Spector net worth, bio and Pennymac Financial Services, Inc 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. Most recently, David Spector sold 26,169 shares of the business's stock in a transaction on Wednesday, March 1st. Importantly, PennyMac retains the servicing rights and carries an option to repurchase these government-insured loans in the event they become eligible for redelivery into Ginnie Mae securities. The committed pipeline at January 31 was $7.9 billion. Get notified the next time David A. Spector buys or sells PennyMac Financial Services stock. 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. Before I turn this over to Andy, I want to take a moment to say all of us at PennyMac are very grateful for the many kind thoughts and tributes we have received since announcing the sad passing of Stan Kurland, our founder and Chairman. 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. 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. 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. JMP Securities lowered PennyMac Financial Services from an outperform rating to a market perform rating in a report on Wednesday, January 18th. 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. Now I'll turn it over to Doug, who will discuss our mortgage banking businesses. Russia's war on Ukraine latest: Putin casts war as battle for nation's survival, India FM Jaishankar says Soros dangerous, debate needed on democracy, Buffett's Berkshire profit falls on investments, currencies, Bill Gates buys Heineken stake, despite saying he's 'not a big beer drinker', Elon Musk recruits team to develop OpenAI rival - The Information, Hedge fund manager Chris Hohn demands Airbus drop Atos deal - letter, Elon Musk's challenge: Stay ahead of the competition, ISS urges Apple shareholders to vote for CEO Tim Cook, other execs' pay packages, Elon Musk accuses media of racism after newspapers drop 'Dilbert' cartoon, French media billionaire Niel fails with bid for TNT television frequence - Arcom, Private National Mortgage Acceptance Co. LLC. 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. 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.

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