Items Tagged with 'PennyMac Financial Services'


  • Former Ginnie Mae president Ted Tozer joining PennyMac Financial Services board

    Tozer stepped down from Ginnie Mae earlier this year
    Ted Tozer stepped down as president of Ginnie Mae in January after serving seven years, and while the agency has still not found a permanent replacement, Tozer has found a new position. PennyMac Financial Services, a mortgage lender and servicer, announced Wednesday that Tozer is joining the company’s board of directors.
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  • PennyMac Financial Services 1Q net income hits $47.1M

    Sees substantial opportunity in mortgage production
    PennyMac Financial Services posted net income of $47.1 million for the first quarter of 2015, on revenue of $140.3 million. Looking ahead, the lender's CEO sees substantial opportunity in mortgage production, driven by continued low mortgage rates, the FHA's reduction of its mortgage insurance premium and limited origination capacity in the market.
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  • PennyMac revenue jumped 34% in 2014

    Boosted by 41% increase in mortgage banking revenue
    According to PennyMac, the company’s total net revenue in the fourth quarter was $141.7 million, up ever so slightly from $140.6 million in the third quarter. But the company’s net revenue for the year was $518.3 million, which was up 34% from 2013’s total.
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  • Investors in PennyMac gain larger stake

    Two hedge funds report beneficial ownership to the SEC
    A group of investors acquired enough of a stake in PennyMac Financial Services to prompt a series of new filings with the Securities and Exchange Commission.
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  • Tough originations market moves PennyMac toward mortgage servicing

    Compass Point analysts cite common trend in mortgage firms
    PennyMac Financial Services' operating earnings missed the mark due to lower gains on sale margins and lower mortgage originations, analysts with Compass Point Research & Trading Group pointed out Monday. The result of all the pressure on the mortgage originations side is a sudden switch to a focus on servicing.
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