Josh Smith, senior managing director and treasurer at Pennymac, is a distinguished mortgage banking financial executive with deep expertise in capital markets, structured finance, bank financing facilities and treasury management. His leadership was instrumental in enhancing Pennymac’s financial flexibility and liquidity, particularly through the successful reintroduction of the company to non-agency residential mortgage-backed securities (MBS) investors. Spearheading a securitization program for non-owner occupied and investor loans, he strengthened Pennymac’s market position while fostering strong relationships with global financial institutions, residential MBS and asset-backed security investors and government housing agencies.
Smith played a pivotal role in expanding and diversifying Pennymac’s mortgage servicing rights (MSR) and servicing advance financing structures. His strategic efforts in adding new counterparties and increasing capacity within existing networks helped achieve key growth objectives while mitigating concentration risk. Working closely with global financing partners, he developed structures that optimize capital efficiency while ensuring compliance with housing agency regulations. His contributions have expanded liquidity for Pennymac’s assets and businesses and have also had a positive impact on the broader mortgage industry.
Recognizing the growing demand for non-agency securities, Smith successfully led Pennymac’s re-entry into the private-label securitization market, executing three non-owner occupied securitizations in recent months. He played a hands-on role in structuring, investor engagement, due diligence and loan aggregation, ensuring the program’s success. His leadership has positioned Pennymac as a consistent issuer of these securities, paving the way for future expansion. His ability to drive complex initiatives while seamlessly transitioning into new leadership roles underscores his exceptional strategic vision and influence in the industry.
Name:
Josh Smith
Title:
Senior Managing Director and Treasurer
Company Name:
Pennymac
