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Mortgage Banking and Investment Management: PennyMac Financial Services, Inc. (PFSI)

PennyMac Financial Services, Inc. (NYSE:PFSI) was founded in 2008 and is headquartered in Westlake Village, California, USA, with 3460 full-time employees. It is a company engaged in mortgage banking and investment management activities in the United States through its subsidiaries.

PennyMac Financial Services

PennyMac Financial Services, Inc. (PFSI):

PennyMac Financial Services is a professional financial services company with a comprehensive mortgage platform and integrated business, focusing on the origination and services of US mortgage loans and investment management related to the US mortgage market.

PennyMac Financial was established in 2008 by members of the company’s executive leadership team and two strategic partners, BlackRock Mortgage Ventures, LLC and HC Partners, LLC (formerly Highfields Capital Investments, LLC). Since then, PennyMac Financial has established what it considers to be the industry’s leading operating platform to seek business opportunities in the US mortgage market.

PennyMac Financial Services went public in 2013 and is a collaborative partnership with PennyMac Mortgage Investment Trust .

PennyMac Financial Services operates through three departments : Loan Production, Loan Servicing and Investment Management.

  1. Loan Production-engaged in the origination, acquisition and sale of mortgage loans. Initiated the first lien residential conventional and government insurance or guaranteed mortgage loans.
  2. Loan Servicing-Engaged in newly issued mortgage services, as well as the execution and management of early acquisition loans. The department performs loan management, collection and default management activities, including collection and remittance of loan payments; responding to customer inquiries; accounting for principal and interest; holding a custody fund to pay property taxes and insurance premiums; consulting overdue mortgagors; and Supervise foreclosure and property disposal. The department also provides services for traditional and government guaranteed loans; non-performing mortgage loans acquired by the proposed entity as an investment.
  3. Investment Management-Perform due diligence, bidding and closing the acquisition of investment assets; manage PennyMac Mortgage Investment Trust’s agency production activities; and manage the acquired assets.

According to Inside Mortgage Finance, as of March 31, 2019, PennyMac Financial Services is the fourth largest mortgage originator and sixth largest mortgage service provider in the United States. In the company’s investment management business, the company manages PennyMac Mortgage Investment Trust (NYSE: PMT), which is a publicly traded mortgage real estate investment trust fund. Compared with a typical mortgage company, PMT is a tax-saving tool for investing in mortgage-related assets and capital partners, and helps reduce PennyMac Financial Services’ balance sheet requirements.

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