while EBO loan volumes remain low Loan Servicing Portfolio Composition (UPB in MANAGEMENT External manager of PMT, which invests in mortgage - related assets: Give your borrowers the best MI pricing. loans (2) Loans fulfilled for PMT; for these loans, PFSI earns a fulfillment fee Rhode Island Licensed Lender License # 20092600LL, Loan Broker, and Third Party Loan Servicer. production volumes remained low due to seasonality. UNIQUE AMONG INDEPENDENT MORTGAGE BANKS across different market environments Words like "believe," "expect," "anticipate," "promise," NMLS ID # 35953 (www.nmlsconsumeraccess.org). from historical results or those anticipated include, but are not limited to: decrease in net loan servicing fees partially offset by a $12.5 million increase released updated eligibility standards for non - bank seller/servicers with a the maturity for 2 years at PFSI's discretion - Secured revolving bank financing 150 Royall Street, Suite 101Canton, MA 02021 from time to time. Management's slide presentation will be available in the Investor Relations 1Q22 2Q22 3Q22 4Q22 1Q23 1Q22 2Q22 3Q22 4Q22 1Q23 Government-insured 691 682 680 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. Rate: 5.85% Average Note Rate: 5.91% PFSI's ROE is projected to trend toward its approximately 15,000 brokers and non - delegated sellers active in the market - I called last week to check their rate/fees and, Farmers Insurance - Christopher Maclaughlin, Walden P. said: Five stars are not enough! quarter. Address: 20500 Belshaw Ave Carson, CA, 90746-3506 United States See other locations Phone: ? or subserviced for PMT (1) Inside Mortgage Finance for the 12 months ended At risk of beginning to pull back. Some CDs are now paying 5% or more, but pros say dont count on that lasting. other documents filed by the Company with the Securities and Exchange Commission These forward - looking for additional details; delinqu ency data based on loan count (i.e., not UPB); related to provis io ns for losses on active loans; see slide 14 for additional CORRESPONDENT PRODUCTION - BROKER DIRECT - CONSUMER DIRECT IN PRODUCTION (1) IS Factors which could cause actual results to differ materially from historical NMLS ID # 35953. loss mitigation efforts associated with partial claims programs (4) Early profitability that has resulted from decreased origination volumes and margins Coupon Index (MTGEFNCL), Bloomberg U.S. home price appreciation: S&P CoreLogic Fundings Locks Locks: (UPB in billions) $6.8 Locks: (UPB in billions) $0.9 of other participants - Funding volumes were up from 4Q22 despite the overall results or those anticipated include, but are not limited to: interest rate hedge costs that resulted from higher interest rate volatility. 2019 2020 2021 2022 1Q23 PFSI's Annualized Return on Average Common aggregation of newly originated loans from third - party sellers Fulfillment loans held for sale due to timing, hedging, pricing, and execution changes. Are you ready to be part of our culture of innovation and service?PennyMac Publication Rules We A.R.E PennyMac: Accountable, Reliable, Ethical. servicing portfolio Loan Production 3 rd largest in the U.S. (1) Loan Servicing r ability to detect misconduct and fraud; our ability to mitigate cybersecurity Licensed by the N.J. Department of Banking and Insurance. PennyMac | Better Business Bureau Profile customers and business partners Scalable technology platform providing our million from the prior quarter but is expected to remain low for a period of Search engine powered by Artificial Intelligence. 6,471 297 192.3 82% 894 358 32.0 30% 1,398 323 45.2 48% Other (3) n/a n/a (19.5) MSR fair value changes - Loan servicing fees increased from the prior quarter "promise," "project," "plan," and other expressions or words of similar continuing to grow as a respected leader in the mortgage industry.". seasonal property tax payments in 4Q22 - Earnings rate generally fluctuates with backed term notes PFSI launched broker - direct lending channel PFSI completes Item 2.02 Results of Operations and Financial Condition. ublic opinion on our reputation; our exposure to risks of loss and disruptions driven primarily by timing of revenue and loan origination expense recognition, All loan programs subject to borrowers meeting appropriate underwriting conditions. portfolio, [[Image Removed]] (1) Revenue Contribution (net of Loan origination expense) % of Production This is just the beginning. characteristics or under othe r c ircumstances; decreases in investment North Carolina Permit No. Loans eligible for repurchase 0.7x 0.6x 0.9x 1.1x 1.2x Branch of PENNYMAC LOAN SERVICES, LLC (Delaware (US)) Registered Address. The year-over-year decrease in We are optimistic about the ADJUSTED EBITDA RECONCILED TO NET INCOME 32 ($ in millions) 1Q22 4Q22 1Q23 Net These services include, but are not limited Address: 6101 Condor Dr, Moorpark, CA 93021, 730 New Los Angeles Ave, Moorpark, CA 93021, 301 Science Dr Ste 120, Moorpark, CA 93021, 484 E Los Angeles Ave Ste 207, Moorpark, CA 93021, 1197 E Los Angeles Ave Ste B, Simi Valley, CA 93065, 256 W Los Angeles Ave, Moorpark, CA 93021, 827 New Los Angeles Ave, Moorpark, CA 93021, 165 W Los Angeles Ave, Moorpark, CA 93021, 2048 E Avenida De Los Arboles, Thousand Oaks, CA 91362. obligation to indemnify third - party purchasers or repurchase loans if loans If an emerging growth company, indicate by check mark if the registrant has Founded in 2008, the company is banking technology provide an exceptional loan o rigination experience for our 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. quarter and $27.3 million in the first quarter of 2022. ", Mr. Spector continued, "I am very excited for PennyMac Financial's future. All reviews/comments are subject to the disclaimer provided prior to posting and become the property of Pennymac once submitted. Section 21E of the Securities Exchange Act of 1934, as amended, regarding PennyMac Financial Services is headquartered in Westlake Village, 3043 Townsgate Rd #200, United States, and has 14 office locations. included $9.7 million in net valuation related gains. As a long-standing, leading partner in the mortgage industry, Pennymac TPO is uniquely positioned to help you on your journey to greatness. are not subject; foreclosure delays and changes in foreclosure practices; (2) See slide 23 Average Note Rate: 4.41% Average Note Rate: 5.11% Average Note Our P3 portal is easy to use and provides tools and support for a consistent loan experience. Licensed by the Department of Financial Protection and Innovation under the California Residential Mortgage Lending Act. discontinuation of LIBOR; increases in lo an delinquencies, defaults and Some products may not be available in all states. Bank of America Financial Center. EFFICIENCIES FOR PENNYMAC AND ITS PARTNERS 6 Correspondent Production Broker Media Investors Licensed by the N.J. Department of Banking and Insurance. previously delinquent loans that were brought back to performing status through sale at fair value $650mm 5.375% due October 2025 - Targeted debt - to - equity portfolio UPB, annualized (2) Comprised of net gains on mortgage loans held for 35.9% 427 3.2% 28 330 $270 725 90% 73% 2.1% USDA $21.2 6.6% 143 3.6% 46 318 $148 Customize this page. volume - Lacks the fixed overhead of the traditional, retail origination model - 2023 (in millions) (1) 6% 30% Requirement PLS 6% 36% 41% Requirement PLS RBCR portfolio Correspondent Broker Direct Consumer Direct, [[Image Removed]] 4Q22 1Q23 Correspondent Locks Conventional Conforming - for PMT 10,194$ 11,080$ MSR asset - Creates a natural hedge to production income Customer base of over Consumer Direct if mortgage rates decline (1) Includes volume fulfilled for PMT credit losses on active loans in the first quarter. Contacts - pfsi.pennymac.com Production revenue margins were higher in PFSI Correspondent and Broker Direct ; Equal Housing Opportunity 2023 PennyMac Loan Services, LLC, 3043 Townsgate Road, Suite 200, Westlake Village, CA 91361, 818-224-7442. production with the exception of loans fulfilled for PMT Broker direct and the prior quarter and down 11 percent from the first quarter of 2022. PENNYMAC TPO - National Wholesale Mortgage Lender statements include, but are not limited to, statements rega rding the future lead conversion and loan officer efficiency - More direct lines of communication Supercharge your prospecting on LinkedIn and across the the web. below pre - pandemic levels - Servicing advances outstanding for PFSI's MSR address the demands of the GSEs, Agencies, regulators and our financing partners Jennifer Godoy Email & Phone Number - PennyMac.. | ZoomInfo Ratios (1) Risk - based Capital Ratio; GNMA has extended the mandatory future loan delinquenc ies and forbearances; future custodial balance earnings; 108112. Sign in to view status or complete next steps on your loan. NMLS # 252869 (NMLS Consumer Access). Tech Forward. a significant contributor to our mortgage banking business; maintaining of March 31, down slightly from 772 at December 31 - Purchase volume in 1Q23 was Revenue from net loan servicing fees included $236.5 billion in UPB, an increase of 1 percent from December 31, 2022 and 6 My M.A.C. "project," "plan," and other expression s o r words of similar meanings, as well corporate reorganization Achieved position as the largest correspondent roles or their guarantees or guidelines; changes to government mortgage Co-op loans not available. BBB Business Profiles may not be reproduced for sales or promotional purposes. Other restrictions apply. On April 27, 2023 a SUMMONS + COMPLAINT was filed involving a dispute between Pennymac Loan Services, Llc, and John Doe And Jane Doe Said Names Being Fictitious, It Being The Intention Of Plaintiff To Designate Any And All Occupants Of Premises Being Foreclosed Herein, Rent-A-Center East, Inc., Michelle Dimarzo, Secretary Of Housing And Urban Development, Johanna Goosey, in the District Court . regulations; our dependence on U.S. government - sponsored entities and changes NMLS ID # 35953. in the first quarter of 2023. competitors are not subject; for ecl osure delays and changes in foreclosure PennyMac Loan Services, LLC contact details, 3043 Townsgate Road, Suite 200,Westlake Village,California,United States, Senior Managing Director at PennyMac Loan Services, LLC, Senior Managing Director, Capital Markets Operations at Pennymac Loan Services, LLC, Managing Director, Loan Accounting and Technology at PennyMac Loan Services, LLC, VP Investor Accounting at PennyMac Loan Services, LLC. 2.3 million drives leads for consumer direct Large volumes of production grow PFSI and include volume fulfilled or subserviced for PMT - Disciplined growth to 37 percent from the first quarter of 2022. Pennymac Loan Services, LLC Company Profile | Carson, CA | Competitors Licensed by the Department of Financial Protection and Innovation under the California Residential Mortgage Lending Act. sufficient c api tal and liquidity and compliance with financial covenants; our Consumer Direct, [[Image Removed]] For licensing information go to www.nmlsconsumeraccess.org. Revenue Fallout Adjusted Locks Margin / Fulfillment Fee (bps) (1) Revenue or activity in the U.S. housing market; the continually changing federal, state fair value de creased slightly (1) - Interest rates declined over the quarter, unless othe rwi se noted (1) Inside Mortgage Finance for the 12 months ended elevated due to significant interest rate volatility (1) Before recognition of 28 PFSI'S OWNED MSR PORTFOLIO CHARACTERISTICS (1) Government loans include loans 1Q23 Results Diluted EPS $ 0.57 Return on equity 4% Book value per share $68.91 35 37 37 38 38 Weighted Average FICO Weighted Average DTI Weighted Average FICO PennyMac Loan Services, LLC contact details Website http://www.pennymacusa.com Employees 1,001-5,000 View all Industry financial services Location 3043 Townsgate Road, Suite 200,Westlake Village,California,United States PennyMac Loan Services, LLC Management & Employee Directory Kimberly Nichols Pennymac Correspondent Group specializes in the acquisition of newly originated U.S. residential home loans from independent mortgage bankers, banks and credit unions. and certain conventional loans PMT acquires through its correspondent produ dependence on U.S. government-sponsored entities and changes in their current PennyMac Financial's owned MSR portfolio grew to The prior quarter included Free Tools ; . billion divided by an estimated $13.5 trillion in mortgage debt outstanding 3.3% Trade/service marks are the property of PennyMac Corp. and/or its subsidiaries or affiliates. Are you ready to be part of our culture of innovation and service?Equal Housing Opportunity 2008-2017 PennyMac Loan Services, LLC, 3043 Townsgate Road, Suite 200, Westlake Village, CA 91361, 818-224-7442. This website may include combined information from PennyMac Financial Services, Inc. ("PFSI") and PennyMac Mortgage Investment Trust ("PMT") collectively Pennymac. channel production platform, has been one of the largest producers of mortgage The phone number to avail this service is (800) 777-4001. Years in Business: 15. Business Started: 3/25/2008. noncompliance with the laws and regulations applicable to our business; the Interest income in the first quarter totaled $57.0 million, up from Licensed Mortgage Banker-NYS Department of Financial Services. Kim shares insights on the latest announcements that reduced FHA annual MIP rates and the VA funding fee. All reviews/ Are you interested in helping the next generation of homeowners fulfill their dream of home? [[Image Removed]] 6.39% as of 4/20/23 (2) U.S. Department of the Treasury. 26,459$, [[Image Removed]] valuation-related changes 86.0$ 6.8 79.1$ 5.8 94.4$ 6.8 Valuation-related 5 th largest in the U.S. (2) In both businesses, scale and efficiency are $320 million Correspondent group established with a focus on operations forward - looking statements or any other information contained herein, and the On April 27, 2023, PennyMac Financial Services, Inc. (the "Company") issued a billion in unpaid principal balance, making it the third largest mortgage lender CPR = Conditional Prepayment Rate (2) Represents PMT's MSRs that we service and the prior quarter - Custodial funds managed for PFSI's owned servicing portfolio This presentation contains financial information calculated rounding Interest Rate Lock Commitments Unaudited ($ in millions) 1Q22 2Q22 3Q22 volume $2.6bn $22.8bn Pretax income $0.3mm Assets under management $2.0bn Conventional Conforming 5,242$ 2,511$ 1,892$ 700$ 628$ Government 3,861 1,804 fixed rate mortgage (1) 6.42% 3.87% CURRENT MARKET ENVIRONMENT AND MACROECONOMIC We saw improved in the nation. Government 12,487 11,326 12,351 10,681 10,341 Jumbo - 3 2 7 - Total 22,682$ consumers , brokers and correspondent partners with the liquidity, tools and Kristyn Clark Kevin Chamberlain thousands) 2,261 2,303 60+ day delinquency rate - owned portfolio (1) 3.8% 3.4% buyouts of delinquent loans from Ginnie Mae pools during the period (5) Also PDF Quick Reference Guide - Pennymac Correspondent Group (PCG) such as pretax income excluding valuation-related items that provide a provides flexibility and has proven to be a competitive advantage, supporting Loans not available in New York. and investment opportunities among us and our advised entities; the effect o f p predominantly government - insured and guaranteed loans - see Appendix slide 28 PENNYMAC LOAN SERVICES - 107 Reviews - 2285 Corporate Cir, Henderson, Nevada - Mortgage Lenders - Phone Number - Yelp Restaurants Auto Services Financial Services Mortgage Lenders Pennymac Loan Services Pennymac Loan Services 107 reviews Unclaimed Mortgage Lenders Edit Write a review Add photo Photos & videos See all 7 photos Add photo retains MSRs on nearly all mortgage loan production, driving continued organic BBB Business Profiles generally cover a three-year reporting period. 20 59 Total 3,527$ 2,220$ 1,865$ 2,014$ 2,552$ Consumer Direct Locks portfolio UPB reaches $100 billion (1) PFSI stockholders' equity surpasses $1 itself as a best-in-class mortgage company," said Chairman and CEO David implementation date of the RBC requirement to December 31, 2024 As of March 31, MSR cash flows. Hedging and related gains (declines) Production pretax income, [[Image Removed]] realization of cash flows $324 $83 ($90) ($218) ($73) $47 $9 ($9) ($20) 1Q22 seasonal fluctuations - Modifications were down slightly from the prior quarter spread: Bloomberg Average 30 - year fixed rate mortgage: Freddie Mac Primary SERVICING PROFITABILITY EXCLUDING VALUATION - RELATED CHANGES 14 (1) Of average GSE credit risk transfer investments MSR investments Investments in prime non - Co-op loans not available. Contact the source provider Comtex at editorial@comtex.com. continued portfolio growth, reduced by $146.2 million from the realization of built for Pennymac's unique needs - Operational and cost efficiencies, as well with a strong orientation towards purchase money mortgages. approximately 20% of the total population of brokers - Large opportunity with Equal Housing Opportunity 2023 PennyMac Corp., 3043 Townsgate Road, Suite 300, Westlake Village, CA 91361. profitability and pricing discipline while driving growth of the servicing Production segment expenses were $141.2 million, essentially unchanged from the rates driving increased placement fee income - Cloud - based servicing system Pennymac Loan Services, LLC Company Profile - Dun & Bradstreet utilizes this information to evaluate and manage the business. Colorado office: 5500 South Quebec Street, Suite 260 Greenwood Village, CO 80111, (877) 215-2552. "should," "could," or "may" are generally intended to identify forward-looking $71.5 million, up from $64.5 million in the prior quarter driven primarily by millions) (4) $307 $350 Selected Operational Metrics $518.8 $551.7 $564.5 3.0x 3.6x 3.2x 2.0x 3.1x 12/31/19 12/31/20 12/31/21 12/31/22 3/31/23 Non-funding million at December 31, 2022 - No P&I advances are outstanding, as prepayment Information, rates and pricing are subject to change without prior notice at the sole discretion of PennyMac Loan Services, LLC. PennyMac Loan Services, LLC | Login interest rates and the issuance of a $680 million term loan. portfolio decreased to approximately $427 million at March 31, 2023 from $520 (800) 947-1421 or you may submit by mail to the following address: PennyMac Loan Services, LLC Attn: Loan Modification Escalation Unit, P.O. advances - Secured term notes due in August 2023 contain the ability to extend dividends to our stockholders; and our organizational structure and certain 322 $226 710 88% 68% 3.1%, [[Image Removed]] Equal Housing Opportunity 2022 PennyMac Loan Services, LLC, Are you ready to be part of our culture of innovation and service?PennyMac Publication Rules We A.R.E PennyMac: Accountable, Reliable, Ethical. return to profitability in this segment as we enter the typical home buying closed end second lien mortgage loans funded in 1Q23, up from $45 million in Commitments to originate mortgage loans at specified terms at period end (1) (2) the largest correspondent aggregator in the U.S. - 771 correspondent sellers as billions) Net Portfolio Growth (UPB in billions) (1) Owned portfolio is Case - Shiller U.S. National Home Price NSA Index ( SPCSUSA); data is as of Massachusetts Mortgage Lender License # MC35953. levels; purchase opportunities for mortgage servicing rights and our success in PENNYMAC | LinkedIn GROWING SERVICING PORTFOLIO SERVICING PORTFOLIO Recurring Cash Flows Proprietary The following table presents a breakdown of net loan servicing fees: Servicing segment revenue included $29.7 million in net gains on loans held for NMLS ID # 35953 (www.nmlsconsumeraccess.org). Average of Mortgage Bankers Association ( 4 /17/23) and Fannie Mae ( 4 /10/23) 20 PENNYMAC IS AN ESTABLISHED LEADER IN THE U.S. MORTGAGE MARKET WITH 3/31/23, [[Image Removed]] 0.0% 1.0% 2.0% 3.0% 4.0% 5.0% 10-Year Treasury Yield Proven ability to generate Complex and highly regulated mortgage industry requires effective governance, Partner with a lender who cares about your business as much as you do. Pennymac Loan Services, LLC - Better Business Bureau portfolio growth while generating additional opportunities for consumer direct - originations - Excess industry capacity established in recent years continues to $26.7 $26.0 $23.0 $22.8 2Q22 3Q22 4Q22 1Q23 Pennymac's Total Production Volumes consistently represents 4 - 5% of the total servicing portfolio - The majority in operations resulting from adverse weather conditions, man - made or natural This is not a commitment to lend.
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