GROWING SERVICING PORTFOLIO SERVICING PORTFOLIO Recurring Cash Flows Proprietary Tech Forward. 10,647$ 7,507$ 7,588$ Conventional Conforming - for PFSI - - - 4,747 3,781 $328.0 billion in UPB, an increase of 3 percent from December 31, 2022 and 11 value per share decreased to $68.91 from $69.44 at December 31, 2022. Some products and programs may not be available in all states. portfolio, [[Image Removed]] approximately 15,000 brokers and non - delegated sellers active in the market - fair value de creased slightly (1) - Interest rates declined over the quarter, Private National Mortgage Acceptance Company, known as PennyMac, was formed to capitalize on troubles in the mortgage industry. Safety starts with understanding how developers collect and share your data. EBO loan transaction-related expense (2.1) (0.2) (0.1) (0.0) (0.2) (0.0) originations - Excess industry capacity established in recent years continues to 6/30/20 9/30/20 12/31/20 3/31/21 6/30/21 9/30/21 12/31/21 3/31/22 6/30/22 a significant contributor to our mortgage banking business; maintaining PennyMac Loan Services, LLC Attention: Correspondence Unit PO Box 514387 Los Angeles, CA 90051-4387, Notice of Error and Information Requests Only. All reviews/comments are subject to the disclaimer provided prior to posting and become the property of Pennymac once submitted. 11 (1) Expected revenue net of direct origination costs at time of lock (2) 1Q22 2Q22 3Q22 4Q22 1Q23 1Q22 2Q22 3Q22 4Q22 1Q23 Government-insured 691 682 680 Fundings Locks Locks: (UPB in billions) $6.8 Locks: (UPB in billions) $0.9 We reserve the right to validate, remove or republish your reviews/comments at any time.Equal Housing Opportunity 2019 PennyMac Loan Services, LLC, 3043 Townsgate Road, Suite 200, Westlake Village, CA 91361, 818-224-7442. and the statements made in this press release are current as of the date of this 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 INTEREST RATE LOCKS BY PRODUCT 30 Note: Figures may not sum exactly due to from time to time. If you need the payment address, click here. decreases in investment management and incentive fees; conflicts of interest in future loan delinquenc ies and forbearances; future custodial balance earnings; North Carolina Permit No. When considering complaint information, please take into account the company's size and volume of transactions, and understand that the nature of complaints and a firm's responses to them are often more important than the number of complaints. Ready to apply or complete your application? supplemented by MSR acquisitions and PMT investment activity INVESTMENT NMLS #. obligation to indemnify third - party purchasers or repurchase loans if loans We recently added some new features and made it easier than ever to make a variety of payments and conveniently manage your mortgage. than in accordance with U.S. generally accepted accounting principles ("GAAP"), customers and business partners Scalable technology platform providing our - Purchase originations, new products, second liens - Loss mitigation expertise profitability that has resulted from decreased origination volumes and margins "should," "could," or "may" are generally intended to identify forward-looking Services 2.3M customers $5 64 B unpaid principal balance, [[Image Removed]] Pennymac Loan Services, LLC Website Get a D&B Hoovers Free Trial Overview Company Description:Pinching pennies is one way to turn a tarnished economic situation into gold. fair value losses, $47.2 million in hedging gains and a $6.1 million reversal Contact our customer service team with any inquiries by sending us a message through the Message Center by simply logging in to your account. relating to the Company, except to the extent, if any, expressly set forth by correspondent sellers - Streamlined and automated processes to quality - check (Estimated) April 2023 (Estimated) April 2023 (Estimated) Note: Figures may not This is not an offer for extension of credit or a commitment to lend or to purchase loans. division supports all channels Multiple access points to the origination market 730 New Los Angeles Ave, Moorpark, CA 93021 millions) (4) $307 $350 Selected Operational Metrics $518.8 $551.7 $564.5 119504607, 119505929, 119506567, 119506570, 119507419. million, down 6 % from 4Q22 and 9 % from 1Q22 Investment Management AUM ($ in 27 MSR ASSET VALUATION (1) Excludes loans held for sale at fair value Mortgage $11.9 million in the first quarter, down 2 percent from the prior quarter and 29 resulting in a more flexible loan delivery platform for our nearly 800 (NYSE: PFSI) today reported net income of $30.4 million for the first quarter of "Strong operating profitability in our servicing segment was partially 0.0% 1.0% 2.0% 3.0% 4.0% 5.0% 10-Year Treasury Yield Proven ability to generate Pennymac and its best-in-class mortgage platform, as a trusted and innovative 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 . United States: Carson: 20500 Belshaw Ave: United States: Honolulu: 55 Merchant St #1430: United States: Las Vegas: 10550 W Charleston . Some products may not be available in all states. CPR = Conditional Prepayment Rate (2) Represents PMT's MSRs that we service and Factors which could cause actual results to differ materially from historical hedge strategy that also considers production - related income - In 1Q23, MSR Data privacy and security practices may vary based on your use, region, and age. PennyMac Loan Services, LLC does not pay or otherwise provide compensation for reviews/comments. PennyMac Loan Services, LLC Its Successors and/or Assigns P.O. a meaningful perspective on the Company's business results since the Company million from the prior quarter but is expected to remain low for a period of Facebook. As your advocate every step of the way, were here to help you meet every deadline and contingency to get you to the finish line. management's beliefs, estimates, projections and assumptions with respect to, million at December 31, 2022 - No P&I advances are outstanding, as prepayment 3Q22 4Q22 1Q23 Correspondent Acquisitions Conventional Conforming - for PMT 1Q23 1Q22 2Q22 3Q22 4Q22 1Q23 Government-insured 708 700 680 680 663 business partners - Improved user interface and pipeline management tools **According to Inside Mortgage Finance ranking of Top 25 Primary Mortgage Servicers by dollar amount for Q4 2022 Our Foundation For Greatness Since 2008, we have endeavored to build a foundation of greatness where our borrowers, partners, investors and team members thrive. and hedging, pricing, and execution changes Fallout Adjusted Locks Margin / Conventional 36 37 38 39 39 1Q22 2Q22 3Q22 4Q22 1Q23 1Q22 2Q22 3Q22 4Q22 1Q23 PMT) (2) MSR = mortgage servicing rights; UPB = unpaid principal balance, than in 1Q23 - Mortgage banking companies with large servicing portfolios and Losses and provisions for defaulted loans (13.5) (1.1) (14.1) (1.0) (10.5) (0.8) Exchange Act. Servicing segment expenses included $6.1 million in reversals for Purchase loans were 86% of total originations - Margins were higher than in the PennyMac Financial subservices and conducts special servicing for Years in Business: 15. Business Started: 3/25/2008. PennyMac Loan Services, LLC employees. 20 PENNYMAC IS AN ESTABLISHED LEADER IN THE U.S. MORTGAGE MARKET WITH It requires the least amount of effort to help find information needed. 3043 Townsgate Rd Ste 200, Westlake Village, CA 91361-3027. PennyMac Loan Services, LLC does not pay or otherwise provide compensation for reviews/comments. Mix 11% 19% 20% 22% 26% 13% 22% 61% 29% 14% 4% 2013 2014 2015 2016 2017 2018 sufficient c api tal and liquidity and compliance with financial covenants; our released updated eligibility standards for non - bank seller/servicers with a Our data is compliant with GDPR and USA privacy laws. utilizes this information to evaluate and manage the business. volume $2.6bn $22.8bn Pretax income $0.3mm Assets under management $2.0bn predominantly government - insured and guaranteed loans - see Appendix slide 28 $1,800mm $2,480mm $2,050mm Senior Unsecured Notes Secured Term Notes Secured Loan Services, LLC (PLS), the entity at which these standards are applicable, is For licensing information, go to: www.nmlsconsumeraccess.org. industry in which we operate; lawsuits or governmental actions that may result and compliance with financial covenants; our obligation to indemnify third-party Interest income in the first quarter totaled $57.0 million, up from while EBO loan volumes remain low Loan Servicing Portfolio Composition (UPB in North Carolina Permit No. WESTLAKE VILLAGE, Calif. - April 27, 2023 - PennyMac Financial Services, Inc. Trade/service marks are the property of PennyMac Loan Services, LLC and/or its subsidiaries or affiliates. volume - Lacks the fixed overhead of the traditional, retail origination model - - Since inception, PennyMac has focused on building and testing processes and "project," "plan," and other expression s o r words of similar meanings, as well This website may include combined information from PennyMac Financial Services, Inc. ("PFSI") and PennyMac Mortgage Investment Trust ("PMT") collectively Pennymac. Co-op loans not available. Licensed by the Department of Financial Protection and Innovation under the California Residential Mortgage Lending Act. Partner with a lender who cares about your business as much as you do. PENNYMAC HAS DEVELOPED IN A SUSTAINABLE MANNER FOR LONG - TERM SUCCESS 25 2008 Tangible net worth excludes capitalized software $500mm 5.750% due September additional customer relationship management (CRM) modules to drive increased built for Pennymac's unique needs - Operational and cost efficiencies, as well 3.53% as the decrease from the first quarter of 2022 was driven by expense management Box 6618 Springfield, Ohio 45501-6618. BBB Business Profiles generally cover a three-year reporting period. among other things, our financial results, future operations, business plans and BBB encourages you to check with the appropriate agency to be certain any requirements are currently being met. in the nation. In August 2022, the Federal Housing Finance Agency (FHFA) and Ginnie Mae Colorado office: 5500 South Quebec Street, Suite 260 Greenwood Village, CO 80111, (877) 215-2552. EVP, Investor Relations, (818) 264-4907 Is there a problem with this press release? Rate: 5.85% Average Note Rate: 5.91% PFSI's ROE is projected to trend toward its portfolio Correspondent Broker Direct Consumer Direct, [[Image Removed]] 2022 - Slight increase in AUM from the prior quarter primarily due to PMT's 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. ORIGINATION MARKET HAS DECLINED MEANINGFULLY 4 U.S. Mortgage Origination Market valuation inputs used in the valuation model (324.1) (82.6) 90.3 Hedging (gains) consistently represents 4 - 5% of the total servicing portfolio - The majority up from $36.8 million in the prior quarter, both due to higher short-term Actual loans that PFSI services provides significant refinance opportunities for Bank of America Financial Center. The Company undertakes no obligation to publicly update or rev ise any plans and investment strategies, as well as industry and market conditions, all Production segment revenue totaled $121.5 million, down quarters. rounding Interest Rate Lock Commitments Unaudited ($ in millions) 1Q22 2Q22 3Q22 47.206 (3) & (4). As a reminder from the Seller Guide, "It is the Correspondent's sole responsibility to ensure that all insurance carriers or agents are notified to change the mortgagee clause.". portfolio UPB, annualized (2) Comprised of net gains on mortgage loans held for Rhode Island Licensed Lender # 20092600LL, Loan Broker, and Third Party Loan Servicer. Here" brand marketing campaign celebrating home as the foundation for achieving (833) 769-3710 (Monday - Friday 7:00am - 5:30pm Pacific Time) Mailing Address: Pennymac TPO 112 Lakeview Canyon Rd., Ste. Search for your loan to make sure we have your current insurance information. As part of the home ownership process, you are required to maintain insurance to protect your home. 3,912 4,063 Government 12,730 10,649 12,161 10,081 9,461 Jumbo 1 3 2 - - Total Licensed Mortgage Banker-NYS Department of Financial Services. season and given the work we completed last year to prudently resize our The following table presents the contributions of PennyMac Financial's segments investors (3) Excludes loans held for sale at fair value Segment UPB ($ in You should not place undue reliance on driven primarily by timing of revenue and loan origination expense recognition, MSR asset - Creates a natural hedge to production income Customer base of over revenue from servicing and sub - servicing fees in 2022 - Higher short - term hanges in business levels; purchase opportunities for mortgage servicing rights gains were $47.2 million. monitoring, loan file review, underwriting, pricing, hedging and activities 2015 2016 2017 2018 2019 2020 2021 2022 1Q23 PFSI Purchase Mix Industry Purchase from PMT rather than income from holding and selling o r securitizing the loans Equal Housing Opportunity 2023 PennyMac Loan Services, LLC, 3043 Townsgate Road, Suite 200, Westlake Village, CA 91361, 818-224-7442. 2009 2010 2011 2012 2013 2014 2015 2016 2017 2019 2020 2021 Operations launched; The MarketWatch News Department was not involved in the creation of this content. future earnings and return on equity as well as other business and financial an increase of 2 percent from December 31, 2022 and 9 percent from March 31, Trade/service marks are the property of PennyMac Loan Services, LLC and/or its subsidiaries or affiliates. Government (1) FHA $120.3 37.5% 621 3.8% 43 320 $194 674 93% 69% 5.2% VA $115.3 Words like "believe," "expect," "anticipate," Learn more, Pennymac TPO. However, BBB does not verify the accuracy of information provided by third parties, and does not guarantee the accuracy of any information in Business Profiles. 8 percent from the prior quarter and 61 percent from the first quarter of 2022. $338.1 million in servicing fees, which were up from the prior quarter due to 12/31/19 12/31/20 12/31/21 12/31/22 3/31/23 Tangible Net Worth / Assets Tangible Add Hours (800) 777-4001 Add Website Map & Directions PO Box 514387Los Angeles, CA 90051 Write a Review Is this your business? ability to continue profitably executing against our strategic plans, while also such as pretax income excluding valuation-related items that provide a originations range from $ 1.6 to $1.8 trillion, down meaningfully from 2022 Our goal is to provide you with innovative mortgage solutions to make it easier for you to purch. If so, please call us at 866.545.9070. March 31, 2023. (1) and Average Note Rate for Last 4 Quarters FUTURE RECAPTURE OPPORTUNITIES Pretax income for the Investment Management segment was $0.3 million, down from this address Overnight Address Attn: Lockbox Operations P.O. the current environment Significant and ongoing investments in mortgage - 26,459$, [[Image Removed]] approximately 20% of the total population of brokers - Large opportunity with or subserviced for PMT (1) Inside Mortgage Finance for the 12 months ended With Pennymac Mobile, discover all the ways you can pay with our secure, streamlined app. of 2022. (1) Actual originations: Inside Mortgage Finance ; f orecast originations: Revenue Fallout Adjusted Locks Margin / Fulfillment Fee (bps) (1) Revenue $26.7 $26.0 $23.0 $22.8 2Q22 3Q22 4Q22 1Q23 Pennymac's Total Production Volumes Loan Servicing . Conventional 754 757 759 756 757 Conventional 36 37 37 38 38 1Q22 2Q22 3Q22 4Q22 interest rates, expected life of the loan increases resulting in a more valuable Learn what these changes mean for you and your loans, and when they go into effect. PennyMac Financial's successful servicing efforts. If you onal low in 4Q22 - Earnings on custodial balances and deposits increased from
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