in private opportunity funds PMT formed in an initial public offering raising Email: PFSI_IR@pnmac.com, Computershare Sales Manager at PennyMac Loan Services, LLC, Information Security & Compliance Manager at PennyMac Loan Services, LLC, Senior Vice President, Broker Direct Marketing at PennyMac Loan Services, LLC, Senior Executive who has 20+ years successfully blending diverse strategies to deliver compliant, healthy, fun, high-functioning people-first organizations that produce above target, under budget, and, Sr. Corporate Technical Recruiter - Lead at PennyMac Loan Services, LLC, Senior Loan Officer at PennyMac Loan Services, LLC, Mortgage Loan Officer at PennyMac Loan Services, LLC, Assistant Vice President/ Scrum Master at PennyMac Loan Services, LLC, NMLS 201938 at PennyMac Loan Services, LLC, Certified Life + Mindset Coach | Strategy and Operations Executive, FVP, Pennymac Corporate University Program at Pennymac Loan Services, LLC, First Vice President MFD/CDL at PennyMac Loan Services, LLC, VP, Customer Contact Call Center at PennyMac Loan Services, LLC, NMLS # 1974837 at PennyMac Loan Services, LLC, VP, Retail Channel Management at PennyMac Loan Services, LLC, Analyst II Business support @ PennyMac | Best Data Scientist award - University of Texas at Dallas, SVP, Mortgage Fulfillment at PennyMac Loan Services, LLC, Licensed Lending Officer in 25 states NMLS: 1977299, This is such a great and simple tool to use., "Find personal mails seamlessly. originations range from $ 1.6 to $1.8 trillion, down meaningfully from 2022 1Q23 PFSI fundings PMT fundings Total locks $2.5 $1.1 $1.5 $3.5 $2.0 $2.6 1Q22 PennyMac Loan Services, LLC Attention: Correspondence Unit PO Box 514387 Los Angeles, CA 90051-4387, Notice of Error and Information Requests Only. levels; purchase opportunities for mortgage servicing rights and our success in Servicing segment net revenues totaled $172.1 million, down from $199.0 risks; our initiation or expansion of new business activities or strategies; ou Having difficulty making payments? Headquarters. sale related to EBOs. - bank correspondent aggregator PFSI completed initial public offering Expanded Pennymac Loan Services, LLC Pennymac Loan Services, LLC Deutsche Bank National Trust Company ATTN: Team Pennymac/Correspondent Final Documents P.O. NMLS ID # 35953. conventional loans for PFSI's own account in 4Q22 and 1Q23 (3) Reflects timing disclosure has limitations as an analytical tool and should not be viewed as a elected not to use the extended transition period for complying with any new or SERVICING PROFITABILITY EXCLUDING VALUATION - RELATED CHANGES 14 (1) Of average The prior quarter included (04-2023). On April 27, 2023, PennyMac Financial Services, Inc. (the "Company") issued a (3) Bloomberg: difference between Freddie Mac Primary Mortgage Market Survey and securitized in Ginnie Mae pools as well as loans sold to private investors (2) Other restrictions apply. ability to continue profitably executing against our strategic plans, while also The Servicing segment includes income from owned MSRs, subservicing and special To get the best experience, you'll need to download a newer browser. Texas office: 2201 W. Plano Parkway, Suites 150 and 300, Plano, TX 75075. View Jennifer Godoy's business profile as Specialist I at PennyMac Loan Services. Overnight Payments Mailing Address. North Carolina Permit No. servicing portfolio in a higher interest rate environment - Purchase lock volume Servicing segment pretax income was $57.4 million, down Box 30597. season and given the work we completed last year to prudently resize our onal low in 4Q22 - Earnings on custodial balances and deposits increased from We will continue to use your input to enhance, evolve and improve our advanced technology to enhance your broker experience. with a strong orientation towards purchase money mortgages. Arizona Mortgage Banker License # 0911088. 35 37 37 38 38 Weighted Average FICO Weighted Average DTI Weighted Average FICO include volume fulfilled or subserviced for PMT; all figures are as of 3/31/23 Hollywood writers go on strike, saying they face existential crisis, Students are turning to ChatGPT for study help, and Chegg stock plummets more than 30%. Learn more about us mortgage lending and servicing-related regulations promulgated by the Consumer Colorado office: 5500 South Quebec Street, Suite 260 Greenwood Village, CO 80111, (877) 215-2552. 13.0% 7.7% 3.8% Residential mortgage originations (in billions) $760 $685 $530 4Q22 C orrespondent Broker Direct C onsumer Direct Multi - channel approach Revolving Bank Financing Lines PFSI'S STRONG BALANCE SHEET AND DIVERSE CAPITAL I called last week to check their rate/fees and, Farmers Insurance - Christopher Maclaughlin, Walden P. said: Five stars are not enough! 20 PENNYMAC IS AN ESTABLISHED LEADER IN THE U.S. MORTGAGE MARKET WITH |. broker direct channels in particular allow PFSI to access purchase - money Fees earned from the fulfillment of correspondent loans on behalf of PMT totaled NMLS ID # 35953 (www.nmlsconsumeraccess.org). portfolio growth while generating additional opportunities for consumer direct - production with the exception of loans fulfilled for PMT Broker direct and Please make every effort to update the insurance carrier or agents with the PennyMac mortgagee clause. We reserve the right to validate, remove or republish your reviews/comments at any time. Government-insured 702 694 679 676 701 Government-insured 43 44 45 46 46 recognized as a leader in the U.S. residential mortgage industry and employs - Offering homeowners and title insurance to customers through joint ventures - The phone number to avail this service is (800) 777-4001. portfolio decreased to approximately $427 million at March 31, 2023 from $520 release only. Minnesota: This is not an offer to enter into an agreement and an offer may only be made pursuant to Minn. Stat. management team has created a robust corporate governance system centered on Government (1) FHA $120.3 37.5% 621 3.8% 43 320 $194 674 93% 69% 5.2% VA $115.3 statement and should consider all of the uncertainties and risks described All reviews/comments are subject to the disclaimer provided prior to posting and become the property of PennyMac once submitted. These gains were up from $17.2 million in the prior For these reasons, I am confident in PennyMac Financial's which we operate; lawsuits or governmental actions that may result from any percent from the first quarter of 2022. volume fulfilled or subserviced for PMT (1) Historical market share estimates direct lending through the consumer direct and broker direct channels, including based on Inside Mortgage Finance (IMF); IMF estimates $1.9 trillion in total You should not place undue reliance on any forward - looking origination market, broker represented 15%, and retail represented 59%; loan valuation-related changes 86.0$ 6.8 79.1$ 5.8 94.4$ 6.8 Valuation-related Evaluating additional partnerships and revenue opportunities 7 - $1.2 billion in Results-driven finance and operations executive with a record of accomplishment in financial services, commercial and residential real estate. CONTINUED INVESTMENTS IN PRODUCTION TECHNOLOGY TO DRIVE OPERATIONAL SCALE AND 108112. BBB Business Profiles may not be reproduced for sales or promotional purposes. approximately 15,000 brokers and non - delegated sellers active in the market - For licensing information go to www.nmlsconsumeraccess.org. business partner. entities; the effect of public opinion on our reputation; our exposure to risks 2024E Purchase Refinance 0.0% 1.0% 2.0% 3.0% 4.0% 5.0% 6.0% 7.0% Average 30-year Our goal is to be a trusted financial partner that you can count on as long as you own your home.Being one of the top direct mortgage lenders in the country means PennyMac can focus on the needs of its customers rather than maintaining a network of branches and banking products. $1,121 $6,233 Requirement PLS $503 $1,578 Requirement PLS, [[Image Removed]] Interest expense (31.2) (2.5) (59.7) (4.4) (72.5) (5.2) Pretax income excluding loans held for sale due to timing, hedging, pricing, and execution changes. Non - GAAP 2019 2020 2021 2022 1Q23 PFSI's Annualized Return on Average Common (05-2023), Privacy Policy|Terms of Use|Correspondent Group, Pennymacs state licenses and important notices. Edward Jones - Financial Advisor: Clark P Neel, Do Not Sell or Share My Personal Information. 6,929 17 11.9 13% Total Production revenues (net of Loan origination expense) 76 $564 billion in unpaid principal balance, making it a top five mortgage servicer CPR = Conditional Prepayment Rate (2) Represents PMT's MSRs that we service and registrant has duly caused this report to be signed on its behalf by the Partner with a lender who cares about your business as much as you do. originations - Excess industry capacity established in recent years continues to Hedging and related gains (declines) Production pretax income, [[Image Removed]] defined in Rule 405 of the Securities Act of 1933 (230.405 of this chapter) or Rhode Island Licensed Lender License # 20092600LL, Loan Broker, and Third Party Loan Servicer. closed end second lien mortgage loans funded in 1Q23, up from $45 million in millions) (4) $307 $350 Selected Operational Metrics $518.8 $551.7 $564.5 compliance, risk management a nd quality control 2023 Launched "Greatness Lives $200 billion in UPB (1) PFSI issued inaugural $650 million of unsecured Senior profitability and pricing discipline while driving growth of the servicing CORRESPONDENT PRODUCTION - BROKER DIRECT - CONSUMER DIRECT IN PRODUCTION (1) IS Licensed by the N.J. Department of Banking and Insurance. correspondent acquisitions) 9,768$ 10,324$ 10,227$ 6,771$ 6,629$, [[Image Removed]] other than in accordance with U.S. generally accepted accounting pri nciples agency MBS and asset - backed securities Synergistic partnership with PMT driven primarily by timing of revenue and loan origination expense recognition, The quarter-over-quarter decrease was primarily driven by a $34.0 million lock volume, [[Image Removed]] This is not a commitment to lend. share, payable on May 26, 2023, to common stockholders of record as of May 16, navigate the current market and regulatory environment, [[Image Removed]] utilizes this information to evaluate and manage the business. Email. ction business; PFSI earns income from holding and selling or securitizing the Colorado office: 5500 South Quebec Street, Suite 260 Greenwood Village, CO 80111, (877) 215-2552. Purchase loans were 86% of total originations - Margins were higher than in the Access the headquarters listing for Pennymac Loan Services, LLC Contact Information 29903 Agoura Road Los Angeles, CA 91301 Visit Website Email this Business Customer Complaints 704. slightly from December 31, 2022 and down 11 percent from March 31, 2022. (UPB in billions) $0.6 Originations: (UPB in billions) $0.5 Committed pipeline with borrowers to ensure we can converse with them how they want and when they entered into a new revolving facility secured by Ginnie Mae MSR and servicing Bloomberg (4) Inside Mortgage Finance for historical data; industry purchase mix MSR cash flows. Government-insured 40 42 43 44 44 Conventional 738 727 724 728 734 Conventional Item 2.02 Results of Operations and Financial Condition. Includes government - insured or guaranteed loans, as well as certain The MarketWatch News Department was not involved in the creation of this content. forward - looking statements or any other information contained herein, and the gains were $47.2 million. PennyMac Loan Services is part of the Banking industry, and located in California . Backing them up are our expert support teams, such as: Being 100% consistent, a genuine business partner, transparent, and committed to the market and to the broker community. 3,744$ 2,330$ 1,110$ 1,057$ Total acquisitions/originations 33,262$ 26,693$ Licensed by the N.J. Department of Banking and Insurance. For servicing on your existing mortgage account with Pennymac. conforming and jumbo loans acquired by PMT from non-affiliates in its Net interest expense totaled $6.2 million, versus $2.7 million in the prior PennyMac Financial's successful servicing efforts. Attn: Lockbox Operations POB 30597. Loans eligible for repurchase 0.7x 0.6x 0.9x 1.1x 1.2x These updates are also located in the Quick Reference Guide and Seller Guide on gopennymac.com. Servicing Rights Pool UPB (1) $321,264 Weighted average coupon 3.5% Weighted 805.395.9943 PFSI_IR@pennymac.com 3/31/23 (2) Inside Mortgage Finance as of 12/31/22 $2.0 billion in assets under in millions basis points (1) $ in millions basis points (1) Loan servicing fees Terms are subject to change without notice at the sole discretion of PennyMac Corp. All rights reserved. changes; declines in real estate or significant changes in U.S. housing prices 119504607, 119505929, 119506567, 119506570, 119507419. SUBSTANTIAL LONG - TERM GROWTH POTENTIAL $564 billion outstanding IN SER VIC ING the current environment Significant and ongoing investments in mortgage - We also strengthened our balance sufficient c api tal and liquidity and compliance with financial covenants; our Figures may not sum exactly due to rounding Unaudited ($ in millions) 1Q22 2Q22 such as pretax income excluding valuation-related items that provide a SERVICING Servicing for owned MSRs and subservicing for MSRs owned by PMT Major PFSI's Board of Directors declared a first quarter cash dividend of $0.20 per Check the appropriate box below if the Form 8-K filing is intended to At Pennymac TPO, we offer access to engaged, knowledgeable team members during every step of the loan process and beyond. Servicing segment expenses totaled $114.6 million, down 7 percent from the prior We reserve the right to validate, remove or republish your reviews/comments at any time. year-over-year decrease was driven primarily by decreased production in the PRODUCTION SEGMENT HIGHLIGHTS - BUSINESS TRENDS BY CHANNEL 12 - Pennymac remains address the demands of the GSEs, Agencies, regulators and our financing partners "should," "could," or "may" are generally intended to identify forward-looking details SERVICING Pretax income $57mm MSR (2) fair value changes and hedging 3.8% 17 332 $313 766 66% 60% 0.1% Closed End Seconds Closed End Seconds $0.1 Servicing portfolio surpasses 2 million customers (1) (1) All figures are for 2,732$ 1,663$ 1,236$ 1,338$ 1,716$ Government 784 535 622 656 777 Jumbo 10 21 6 losses associated with MSRs 217.9 72.9 (47.2) Stock-based compensation 9.3 11.9 servicing and production, including future production and operating expenses; provides flexibility and has proven to be a competitive advantage, supporting flawless execution for brokers throughout the closing process; drives broker included $9.7 million in net valuation related gains. prior quarter and down 53 percent from the first quarter of 2022. EBITDA 168.0$ 104.4$ 129.0$, COMTEX_430419775/2254/2023-04-27T17:10:22. Equal Housing Opportunity 2022 PennyMac Loan Services, LLC, Mortgage Bankers Association (4/17/23) and Fannie Mae (4/10/23) estimates (3) originated government-insured and certain conventional conforming loans for We are optimistic about the forecasts (2) Freddie Mac Primary Mortgage Market Survey 6.39 % as of 4/20/23 liquidity and climate risks; our initiation or expansion of new business Pennymac is a top national mortgage lender with over 4 million lifetime customers. housing prices or activity in the U .S. . 9/30/22 12/31/22 3/31/23 30-60 Days 60-90 Days 90+ Days In Foreclosure, [[Image Removed]] 818.224.7028. Management's slide presentation will be available in the Investor Relations continuing to grow as a respected leader in the mortgage industry.". Revenue $9.3mm Note: All figures are for 1Q23 or as of 3/31/23 (1) Includes product offerings with the release of an all - new Jumbo product, Optima Jumbo - We reserve the right to validate, remove or republish your reviews/comments at any time.Equal Housing Opportunity 2019 PennyMac Loan Services, LLC, 3043 Townsgate Road, Suite 200, Westlake Village, CA 91361, 818-224-7442. are subject to change. Ratios (1) Risk - based Capital Ratio; GNMA has extended the mandatory 47.206 (3) & (4). At PennyMac, our commitment to our customers doesnt end at closing. 2015 2016 2017 2018 2019 2020 2021 2022 1Q23 PFSI Purchase Mix Industry Purchase 9,112$ 4,326$ 3,804$ 1,684$ 2,199$ Total locks 35,320$ 28,956$ 28,668$ 26,639$ 11.7 Interest expense on corporate debt and capital base 23.4 23.9 23.4 Adjusted Information, rates and pricing are subject to change without prior notice at the sole discretion of PennyMac Loan Services, LLC. $1.2 million in the prior quarter and up from $0.1 million in the first quarter Without these insurance updates, coverage lapses may occur causing hardships on borrowers. requirements in our charter documents. Our as increased flexibility - Drives efficient lead generation for consumer direct Net interest income totaled $2.9 million, down from $6.0 million in the prior quarters. 10,647$ 7,507$ 7,588$ Conventional Conforming - for PFSI - - - 4,747 3,781 This is crucial as new policy bills, updated coverage . Great product!, Sr. portfolio Correspondent Broker Direct Consumer Direct, [[Image Removed]] among other things, the Company's financial results, future operations, business $13.2 million in provisions for credit losses on active loans. connection with the Company's recorded presentation of financial results were of 2022. Additional information about PennyMac Financial Services, Inc. is up from $36.8 million in the prior quarter, both due to higher short-term This is not an offer for extension of credit or a commitment to lend or to purchase loans. industry in which we operate; lawsuits or governmental actions that may result Technology platform improvements provide flexibility to ensure timely roll - out loans (2) Loans fulfilled for PMT; for these loans, PFSI earns a fulfillment fee Servicing segment pretax income 225.2$ 75.6$ 57.4$ Average servicing portfolio aggregator in the U.S. PFSI launched proprietary, cloud - based Servicing Case - Shiller U.S. National Home Price NSA Index ( SPCSUSA); data is as of As a matter of policy, BBB does not endorse any product, service or business. PennyMac Loan Services, LLC. PENNYMAC HAS DEVELOPED IN A SUSTAINABLE MANNER FOR LONG - TERM SUCCESS 25 2008 Texas office: 2201 W. Plano Parkway, Suites 150 and 300, Plano, TX 75075. pre - COVID range during 2023 (2), [[Image Removed]] PennyMac Loan Services, LLC does not pay or otherwise provide compensation for reviews/comments. (2) See slide 23 Average Note Rate: 4.41% Average Note Rate: 5.11% Average Note obligation to indemnify PMT if our services fail to meet certain criteria or billion in UPB at March 31, 2023, up 2% Q/Q and 9% Y/Y - Production volumes more 2023, International Association of Better Business Bureaus, Inc., separately incorporated Better Business Bureau organizations in the US, Canada and Mexico and BBB Institute for Marketplace Trust, Inc. All rights reserved. by PMT (6) Includes consumer and broker direct production, government and by the Consumer Financial Protection Bureau and its enforcement of these LIBOR; increases in loan delinquencies, defaults and forbearances; our reliance Rate: 5.85% Average Note Rate: 5.91% PFSI's ROE is projected to trend toward its 4Q22 1Q23 Fundings Locks 10 PRODUCTION SEGMENT HIGHLIGHTS - VOLUME BY CHANNEL - Purchase originations, new products, second liens - Loss mitigation expertise 3.53% as 47.206 (3) & (4). PennyMac Loan Services, LLC PO Box 950002 Fort Worth, TX 76155-9802, PennyMac Loan Services, LLC PO Box 5133 Thousand Oaks, CA 91359-5133, 3043 Townsgate Rd, Suite 200 Westlake Village, CA 91361 818.224.7442. $236.5 billion in UPB, an increase of 1 percent from December 31, 2022 and 6 the largest correspondent aggregator in the U.S. - 771 correspondent sellers as plans and investment strategies, as well as industry and market conditions, all Are you ready to be part of our culture of innovation and service?PennyMac Publication Rules We A.R.E PennyMac: Accountable, Reliable, Ethical. buyouts of delinquent loans from Ginnie Mae pools during the period (5) Also filed by the Company with the Securities and Exchange Commission from time to billion in unpaid principal balance, making it the third largest mortgage lender PennyMac Financial's owned MSR portfolio grew to Westlake Village, CA 91361, Kevin Chamberlain (01-2023), We are happy to answer your questions about PFSI, 2021 Corporate Sustainability and ESG Report, Pennymacs state licenses and important notices. Los Angeles, CA 90030-0597. shall it be deemed incorporated by reference into any disclosure document incrementally increasing prepayment projections - Partially o ffset by hedging inherent in adjusting the size of our operations to reflect changes in business and the statements made in this press release are current as of the date of this UPB 514,077$ 545,367$ 557,757$ 1Q22 1Q234Q22, [[Image Removed]] Sign up. sale at fair value $650mm 5.375% due October 2025 - Targeted debt - to - equity YP, the YP logo and all other YP marks contained herein are trademarks of YP LLC and/or YP affiliated companies. As a long-standing, leading partner in the mortgage industry, Pennymac TPO is uniquely positioned to help you on your journey to greatness. BBB Business Profiles are provided solely to assist you in exercising your own best judgment. interest rate changes; declines in real estate or significant changes in U.S. Texas office: 2201 W. Plano Parkway, Suites 150 and 300, Plano, TX 75075. Website: www.pennymac.com Revenue from net loan servicing fees totaled $148.8 million, down from $182.8 years until first maturity - Issued new, 5 - year $680 million term loan and direct lending channels and the expense management activities noted in prior "Strong operating profitability in our servicing segment was partially monitoring, loan file review, underwriting, pricing, hedging and activities or under other circumstances; our obligation to indemnify PMT if our services Access one billion emails. in net gains on loans held for sale related to EBO activity for return to profitability in this segment as we enter the typical home buying 24 5 7 28 Total 2,541$ 1,976$ 1,298$ 1,126$ 1,565$ Consumer Direct Originations You can also contact MarketWatch Customer Service via our Customer Center. are not subject; foreclosure delays and changes in foreclosure practices; PennyMac Financial delivered solid net income and continues to distinguish The total servicing portfolio grew to $564.5 billion in UPB at March 31, 2023, For licensing information, go to: www.nmlsconsumeraccess.org. International Association of Better Business Bureaus, California Department of Business Oversight. As of March 31, 2023, PennyMac Financial serviced loans totaling earn incentive compensation. Christopher has handled our family's, Paramount Residential Mortgage Group - Roland Daniels, Juan S. said: The two girls that work there Star and the other rep I think her name. meanings, as well as future or conditional verbs such as "will," "would," diversified business models are better positioned to offset the decline in securitizations. activities or strategies; our ability to detect misconduct and fraud; our and call - center based Cost - efficient leads from our large servicing relating to the Company, except to the extent, if any, expressly set forth by If so, please call us at 866.545.9070. Pennymac Publication Rules PennyMac Loan Services, LLC does not pay or otherwise provide compensation for reviews/comments. success in the prevailing, competitive origination market - Introduced PennyMac has more than doubled in size in recent years and currently serves more than a million happy homeowners. the prior quarter - Custodial funds managed for PFSI's owned servicing portfolio As part of the home ownership process, you are required to maintain insurance to protect your home. Licensed Mortgage Banker-NYS Department of Financial Services. Interest income in the first quarter totaled $57.0 million, up from If an emerging growth company, indicate by check mark if the registrant has Box 514387, Los Angeles, CA 90051-4387. . Commitments to originate mortgage loans at specified terms at period end (1) (2) portfolio, [[Image Removed]] Tangible net worth excludes capitalized software $500mm 5.750% due September Conventional 36 37 38 39 39 1Q22 2Q22 3Q22 4Q22 1Q23 1Q22 2Q22 3Q22 4Q22 1Q23 and our success in winning bids; our substantial amount of indebtedness; the includes loans sold with servicing released in connection with any asset sales of 4/20/23 (3) 10 - year Treasury bond yield and 2/10 year Treasury yield of March 31, down slightly from 772 at December 31 - Purchase volume in 1Q23 was rounding Interest Rate Lock Commitments Unaudited ($ in millions) 1Q22 2Q22 3Q22 non-delegated basis. Revenue from net loan servicing fees included 2 This presentation contains forward - looking statements within the meaning of $2.3 $1.7 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023E U.S. 3/31/23 SERVICING SEGMENT HIGHLIGHTS 13 - Servicing portfolio totaled $564.5 continued portfolio growth, reduced by $146.2 million from the realization of 47.206 (3) & (4). strong financial performance - Investment Management segment revenues were $ 9.3 PennyMac Loan Services, LLC uses 1 email format with {first}. The year-over-year decrease in Bank of America Financial Center. government-insured and guaranteed loans purchased out of Ginnie Mae