David Spector's most profitable transaction was an Informative Sell of PMT stock on March 22, 2019. Texas office: 2201 W. Plano Parkway, Suites 150 and 300, Plano, TX 75075. Follow them so you never miss a recommendation. PennyMac Financial Services, Inc. (NYSE:PFSI) Q4 2020 Earnings Conference Call February 4, 2021 4:30 PM ET, Isaac Garden - Vice President Investor Relations, David Spector - President and Chief Executive Officer, Doug Jones - Chief Mortgage Banking Officer. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 33% of correspondent acquisitions were government loans and 67% were conventional loans. No cash balance or cash flow is included in the calculation. Stanford Kurland, who went from being pushed out of the No. These increases were primarily driven by continued loss mitigation activities related to COVID-19. He previously served as Chief Correspondent Lending Officer and has been a member of the company's executive management team since 2011. Our costs vary by channel, ranging from approximately 15 basis points in correspondent to 150 basis points in consumer direct. Our balanced business model is a key strategic advantage for PFSI, which has consistently delivered outstanding returns across different environments, producing a 33% return on equity for the first half of 2021. Actual performance may differ significantly from backtested performance. 3043 Townsgate Road, Suite 200, Westlake Village, California 91361, US, View PennyMac Financial Services, Inc. has a 12-month low of $38.53 and a 12-month high of $73.79. As David mentioned earlier, we sold $3.4 billion in UPB of EBO loans to third-party whole loan investors, up significantly from last quarter. President & CEO of Pennymac Financial Services Inc (30-Year Financial, Insider Trades) David Spector (insider trades) sold 30,000 shares of PFSI on 01/12/2021 at an average price of $57.43 a share. And since the beginning of 2020, we have now repurchased over 18.5 million shares or approximately 24% of PFSI's common shares outstanding. Enter your email to receive our newsletter. Director, 10% Owner Stanford L Kurland sold 31,000 shares of PFSI stock on 12/23/2020 at the average price of $67.19. Thanks, Andy. David Spector Work Experience and Education Work Experience Chairman & Chief Executive Officer PennyMac Mortgage Investment Trust 2007-2022 Chief Credit Officer Santander Consumer USA 2013-2016 Co-Head of Global Residential Mortgages Morgan Stanley 2005-2008 Global Managing Director, Banking & Markets Bank of America 2004-2010 Education What was David Spectors latest transaction? David Spector Email Address Found 7 email address listings: @pennymacfinancial.com @countrywide.com @pennymacusa.com @pnmac.com @yahoo.com +2 more David Spector Phone Number Found 6 phone numbers: 818-292-XXXX 818-324-XXXX 818-224-XXXX 818-332-XXXX 212-761-XXXX +1 more View David's Email & Phone (It's Free) 5 free lookups per month. Our direct lending channels, which include both our consumer direct lending and broker direct lending, have experienced faster growth and are becoming much more significant contributors to PFSIs earnings profile. Please note all regulatory considerations regarding the presentation of fees must be taken into account. Based on data from MarketBeat.com, the company has a consensus rating of Hold and a consensus target price of $69.50. Purchase originations in 2021 are forecasted to increase 10% year-over-year while refinance originations are expected to decrease but remain elevated relative to historical norms. Our Investment Management segment delivered pretax income of $2.6 million, down from $3.3 million in the prior quarter and down from $5.2 million in the fourth quarter of 2019. January 25, 2021. Pretax income, excluding valuation-related items for the servicing segment, was $174.4 million, down 33% from the prior quarter and up 101% from the second quarter of 2020. Being one of the Find contact details for 700 million professionals. Mr. Kurland was 68. We continue to invest in people, systems and processes across our businesses, laying the groundwork that would allow us to achieve the medium-term goals we outlined in our recent Investor Day. Get contact details including emails and phone numbers It operates through the following segments: Production, Servicing, and Investment Management. The scale we have achieved in our correspondent business, combined with our low-cost structure and operational excellence in the channel, allow us to operate profitably through volatile market environments. The Servicing segment recorded pretax income of $42 million, down from pretax income of $111.7 million in the prior quarter and up from a pretax loss of $5.1 million in the fourth quarter of 2019. The average return per transaction made by David Spector is 3.50%. The company reported a net income of $1 billion in 2021, down from a record of $1.6 billion in the previous year. PennyMac Financial Services, Inc. (NYSE:NYSE:PFSI) Q2 2021 Earnings Conference Call August 5, 2021 5:05 PM ETCompany ParticipantsIsaac Garden - Vice President, Investor RelationsDavid. 18.5 million shares or approximately 24% of PFSI's common shares outstanding. PennyMac. The origination market continues to be strong on a historical basis as mortgage rates have recently returned to near record lows. Ill now turn it over to Dan Perotti, Senior Managing Director and Chief Financial Officer to speak to the financial results for the quarter. The firm has a 50 day moving average of $62.72 and a 200-day moving average of $56.17. The percentage of profitable transactions made by David Spector is 44%. Certain assumptions have been made for modeling purposes and are unlikely to be realized. Thank you. Before we begin, let me remind you that our discussion contains forwardlooking statements that are subject to risks identified on Slide 2 that could cause our actual results to differ materially, as well as certain non-GAAP measures that have been reconciled to their GAAP equivalent. What was David Spector's most profitable transaction? The dividend yield of PennyMac Financial Services Inc stocks is 0.93%. Interest rate lock volume was $5.7 billion in UPB, up 4% from the third quarter and 234% from the fourth quarter of 2019. The barriers to entry for these businesses that require scale for success provide PFSI a strategic advantage over our competitors. Finally, Barclays lifted their price objective on PennyMac Financial Services from $58.00 to $69.00 and gave the company an equal weight rating in a report on Friday, February 3rd. David Spector's role in PennyMac Mortgage is Chairman & CEO, Director. While the Pennymac workforce stays home to help flatten the curve, we know first responders, medical staff, delivery drivers, our essential workers and more, are out there heroically providing for those in need. David A. Spector has been President and Chief Executive Officer of PennyMac Financial Services, Inc. (NYSE: PFSI) since January 2017, and he has been a member of PennyMac Financials board of directors since the companys formation in January 2008. The fair value of our MSR decreased modestly in the fourth quarter, driven by higher-than-expected prepayments, increased projections for short-term prepayments and elevated levels of early buyout activity. With PFSIs historical focus on purchase market originations combined with our large and growing servicing portfolio, we believe we are well-positioned to successfully grow share in all three of our production channels, driving an increase in our overall market position. David works at Pennymac Loan Services, Llc as Chief Investment Officer. Information on this page was last updated on 3/1/2023. For the complete insider trading history of PFSI, click here. Chief Enterprise Ops Officer Jeffrey Grogin sold 13,521 shares of PFSI stock on 01/04/2021 at the average price of $62.53. Each of our business segments performed well during the fourth quarter as the continued low interest rate environment drove record production volumes across all of our channels. While the Pennymac workforce stays. the financials in more detail later on in this discussion. The Servicing segment offers servicing of originated mortgage loans and execution and management of early buyout transactions. Previously, Mr. Spector served as PennyMac Financials President and Chief Operating Officer. Finally, Maverick Capital Ltd. raised its position in shares of PennyMac Financial Services by 33.5% during the 4th quarter. The Investment Management segment consists of sourcing, performing diligence, bidding and closing investment asset acquisitions, managing correspondent production activities and managing the acquired assets. As Chairman & CEO of Pennymac Financial Services, Inc, David Spector has a total base salary of $1,000,000 . Its Time For A Fresh Look At The Kroger Co. West Frasers Earnings Scream Timber, Outlook Says Buy, MarketBeat.com's FREE daily email newsletter, Tower Research Capital LLC TRC Increases Position in ABB Ltd. Tower Research Capital LLC TRC Has $254,000 Holdings in Daqo New Energy Corp. ABB Ltd Shares Bought by Tower Research Capital LLC TRC. The results reflect performance of a strategy not historically offered to investors and does not represent returns that any investor actually attained. We believe the growth opportunities in front of us to be substantial and as we continue to grow our direct lending channels, we expect PennyMac Financials exceptional financial performance to persist through 2021. On Monday, December 12th, David Spector sold 12,750 shares of PennyMac Financial Services stock. Copyright 2023 Surperformance. Pennymac's state licenses and important notices. David served as President and Chief Investment Officer and President and Chief Operating Officer for PennyMac. Since the start of 2020, we have repurchased approximately 13% of the PFSI shares that were outstanding at the beginning of 2020. This quarter, we increased meaningful the number of partnerships we have with these third parties and also expanded the volumes of sales to our existing partners, driving the quarterly increase in the EBO loan volume I mentioned earlier. On Monday, February 27th, David Spector sold 15,000 shares of PennyMac Financial Services stock. Susquehanna Fundamental Investments LLC raised its position in shares of PennyMac Financial Services by 24.8% during the 4th quarter. Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. Looking at the consumer direct channel in the center column, we originated $8 billion in UPB of loans, up 27% from the prior quarter and 113% from the fourth quarter of 2019. Similar Profiles. David A. Spector Age : 59 Public asset : 66,368,555 USD Linked companies : PennyMac Financial Services, Inc. - PennyMac Mortgage Investment Trust Summary David A. Spector is a businessperson who has been the head of 9 different companies. Click here to check it out. The shares were sold at an average price of $60.64, for a total value of $1,586,888.16. Mr. Spector owns 650,183 shares of PennyMac Financial Services stock worth more than $40,948,525 as of March 4th. PennyMac TPO Contact Information Principal Mr. David Spector, President/CEO Customer Contact Mr. David Spector, President/CEO Additional Contact Information Phone Numbers (702). Lastly, I would like to touch on the trends we are seeing related to forbearance and loss mitigation. A free inside look at company reviews and salaries posted anonymously by employees. PennyMac Financial Services Inc provides mortgage loans to customers in the United States. The stock was sold at an average price of $60.64, for a total value of $1,586,888.16. While industry production margins declined in the second quarter, we saw a smaller decrease in overall production margin given the mix shift towards our consumer direct lending channel. PennyMac Financial Services Inc has a market cap of $4.16 billion; its shares were traded at around $57.450000 with a P/E ratio of 3.36 and P/S ratio of 1.35. Net income in the fourth quarter was the second highest in the history of. He currently serves as a senior advisor to TPG Capital, a global private investment firm, and . Conventional correspondent acquisitions, for which PFSI earns a fulfillment fee from PMT, totaled $38 billion in UPB, up 39% from the prior quarter and 85% from the fourth quarter of 2019. Additionally, PFSI's Board of Directors approved an increase to its stock repurchase authorization from $1 billion to $2 billion. Despite these currently elevated levels of competition, we continue to see opportunity in the channel over the long term and remain committed to providing our broker partners and the customers they serve a superior mortgage experience. The shares were sold at an average price of $60.64, for a transaction totalling $1,586,888.16. 112 S. Lakeview Canyon Rd, Ste. Government correspondent locks were $19.7 billion in UPB, down 2% from the prior quarter and up 22% from the fourth quarter of 2019. NMLS ID # 35953. Now Id like to begin by introducing David Spector, PennyMac Financials President and Chief Executive Officer who will review the Companys fourth quarter and full year 2020 results. PennyMac is a mortgage lender and servicer headquartered in Westlake Village, California. Get notified the next time David A. Spector buys or sells PennyMac Financial Services stock. The decrease from the prior quarter was primarily driven by a $76 million decrease in EBO loan-related revenue. The shares were sold at an average price of $60.64, for a total transaction of $1,586,888.16. Lastly, originations in our broker direct channel totaled $4 billion in UPB, down 22% from the prior quarter. While 2020 was a record, we have a long track record of strong performance. Margins in our consumer direct channel still remain elevated relative to historical levels. PennyMac Financial Services, Inc. (NYSE: PFSI) announced today that Doug Jones, President and Chief Mortgage Banking Officer, joined its Board of Directors effective March 1, 2023. free lookups / month. What is David Spector's role in PennyMac Mortgage? While Stan had retired from day-to-day responsibilities at PennyMac, he remained a trusted advisor and dear friend. Licensed by the Department of Financial Protection and Innovation under the California Residential Mortgage Lending Act. The slides that accompany this discussion are available on PennyMac Financial's website at ir.pennymacfinancial.com. PFSIs owned servicing portfolio, which consists primarily of Ginnie Mae MSRs, had a 60 day plus delinquency rate of 10.2%, down from 11.4% at the end of the prior quarter, while our subserviced portfolio, primarily consisting of conventional loans, reported a 60 plus day delinquency rate of 2.7%, down from 3.7% at September 30 as borrowers continue to emerge from forbearance plans. Stanford Kurland, who founded and served as Chairman of PennyMac Financial Services Inc., Westlake Village, Calif., following a multi-decade career at Countrywide Financial Corp., passed away on Jan. 25. JMP Securities lowered PennyMac Financial Services from an outperform rating to a market perform rating in a report on Wednesday, January 18th. I am incredibly thankful and proud of the over 6,000 PennyMac employees who managed through the challenges of the pandemic to deliver these extraordinary results. The prepayment speeds of PennyMac Financial's sub-service portfolio, which includes mostly Fannie Mae and Freddie Mac mortgage servicing rights owned by PMT, decreased to 24.7% from 35.1%. Find the best performing Analyst in each sector. While our servicing group was aiding borrowers, our corporate groups were ensuring our capital and liquidity were protected. Please disable your ad-blocker and refresh. Series 2023-GTL1 Loan On February 28, 2023, PennyMac Financial Services, Inc. (the "Company"), through two of its indirect, wholly owned subsidiaries, PNMAC GMSR ISSUER TRUST ("Issuer Trust") and PennyMac Loan Services, LLC ("PLS"), entered into a syndicated series of term notes (the "Series 2023-GTL1 Loan"), as part of the structured . Equal Housing Opportunity 2023 PennyMac Loan Services, LLC, 3043 Townsgate Rd, Suite 200, Westlake Village, CA 91361, 818-224-7442. Our correspondent mix percentage was essentially unchanged from the previous quarter, as 35% of the acquisitions were government loans and 65% were conventional loans. No representations and warranties are made as to the reasonableness of the assumptions. Information, rates and pricing are subject to change without prior notice at the sole discretion of PennyMac Loan Services, LLC. How can I follow the stock ratings of top corporate insiders? And finally, PFSIs Board of Directors approved an increase to its stock repurchase authorization from $500 million to $1 billion of outstanding common stock. Thank you, Dan. Thank you. All of these workflow and technology investments will improve the experience for the consumer and for the broker, improve productivity, specifically in sales and operations, which will enable higher volumes at a reduced cost to originate. Advances are expected to increase over the next few quarters as many property tax payments become due toward the end of the calendar year. David Spectors most profitable transaction was an Informative Sell of PMT stock on March 22, 2019. Now I'd like to begin by introducing David Spector, PennyMac Financial's Chairman and Chief Executive Officer who will review the Company's fourth quarter and full-year 2022 results. I am pleased to note that PFSIs Board of Directors declared a fourth quarter cash dividend of $0.20 per share, representing a 33% increase from the prior quarter. Insiders at PennyMac Financial Services own 18.0% of the company. During 2020 we added over 2,000 employees to the PennyMac team to expand our workforce to more than 6,000.

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