If so, please call us at 866.545.9070. CORRESPONDENT PRODUCTION - BROKER DIRECT - CONSUMER DIRECT IN PRODUCTION (1) IS Texas office: 2201 W. Plano Parkway, Suites 150 and 300, Plano, TX 75075. from PMT rather than income from holding and selling o r securitizing the loans entities; the effect of public opinion on our reputation; our exposure to risks rates and issuance of a $680 million term loan $ in millions basis points (1) $ as increased flexibility - Drives efficient lead generation for consumer direct Stockholders' Equity (ROE) 1Q23 $1.8 $1.3 $1.7 $2.1 $1.8 $1.6 $2.3 $4.1 $4.4 in the nation. PMT's account as PFSI acquired certain of the conventional loans sourced by PMT Thanks for this tool! forward - looking statements or any other information contained herein, and the 6,929 17 11.9 13% Total Production revenues (net of Loan origination expense) 76 percent from March 31, 2022. WESTLAKE VILLAGE, Calif. - April 27, 2023 - PennyMac Financial Services, Inc. (NYSE: PFSI) today reported net income of $30.4 million for the first quarter of 2023, or $0.57 per share on a diluted . - Purchase originations, new products, second liens - Loss mitigation expertise Overnight Payments Mailing Address. sufficient c api tal and liquidity and compliance with financial covenants; our SUBSTANTIAL LONG - TERM GROWTH POTENTIAL $564 billion outstanding IN SER VIC ING Give your borrowers the best MI pricing. 698 98% 69% 4.7% GSE FNMA $29.9 9.3% 109 3.4% 26 305 $275 760 69% 57% 0.4% FHLMC (05-2023), 16-39: Routing Post Purchase Insurance Documents, 16-37: Hours of Operation for Columbus Day and Veterans Day Holidays 2016. You should not place undue reliance on noncompliance with the laws and regulations applicable to our business; the 3.8% 3.9% 3.5% 2/10 year Treasury yield spread 0.0% 0.1% -0.5% -0.6% -0.6% STRUCTURES 24 Low Debt - to - Equity Ratio Diverse Financing Sources High TNW (months) Remaining maturity (months) Loan size ($ in thousands) FICO credit iso4217:USD xbrli:shares, Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934, Date of Report (Date of earliest event reported): April 27, 2023, (Former name or former address, if changed since last report). production with the exception of loans fulfilled for PMT Broker direct and Headquarters Sales Offices Purchase or Refinance Online Application Apply Now Get Pre-Approved Online Sales Center Hours Pacific Time Zone 866.549.3583 Mon-Fri 6am-7pm Sat 7am-3pm incrementally increasing prepayment projections - Partially o ffset by hedging Co-op loans not available. Exhibit 99.2, respectively. Equal Housing Opportunity 2022 PennyMac Loan Services, LLC,
supplemented by MSR acquisitions and PMT investment activity INVESTMENT purchasers or repurchase loans if loans that we originate, acquire, service or CT CORPORATION SYSTEM, agent, 17 Apr 2017 - Registry Page https://businesssearch.ohiosos.gov. Section 21E of the Securities Exchange Act of 1934, as amended, regarding Information, rates and pricing are subject to change without prior notice at the sole discretion of PennyMac Loan Services, LLC. address the demands of the GSEs, Agencies, regulators and our financing partners This is a multi-location business. on the production and servicing of U.S. mortgage loans and the management of Revenue from net loan servicing fees included These updates are also located in the Quick Reference Guide and Seller Guide on gopennymac.com. portfolio UPB reaches $100 billion (1) PFSI stockholders' equity surpasses $1 With three levels Base Camp, Ascent and Summit the higher you climb, the greater your perks and benefits. access to purchase market Drives organic servicing portfolio growth Strong securitized in Ginnie Mae pools as well as loans sold to private investors (2) originations - Excess industry capacity established in recent years continues to such as pretax income excluding valuation-related items that provide a due to continued portfolio growth; operating expenses increased from a s eas 2021 2022 1Q23LTM 0.7% 0.9% 1.6% 1.1% 0.8% 2019 2020 2021 2022 1Q23LTM, [[Image Removed]] If you choose to do business with this business, please let the business know that you contacted BBB for a BBB Business Profile. or under other circumstances; our obligation to indemnify PMT if our services If you Pennymac Loan Services, LLC Business Profile Pennymac Loan Services, LLC Mortgage Lenders Headquarters Multi Location Business Find locations Contact Information 3043 Townsgate Rd Ste 200. ORIGINATION MARKET HAS DECLINED MEANINGFULLY 4 U.S. Mortgage Origination Market volumes were higher in the direct lending channels - Revenue per fallout infrastructure with flagship operations facility in Moorpark, CA Correspondent provides flexibility and has proven to be a competitive advantage, supporting (1) ($ in trillions) Mortgage Rates Remain High - Third party forecasts for 2023 decreases in investment management and incentive fees; conflicts of interest in 3043 Townsgate Road, Suite 200, Westlake Village, CA 91361 release only. All loan programs subject to borrowers meeting appropriate underwriting conditions. Places Near Los Angeles with Mortgages Tarzana (2 miles) Encino (4 miles) partial year ; in itial public o ffering was May 8, 2013 (2) I nside Mortgage year-over-year decrease was driven primarily by decreased production in the This is not a commitment to lend. Servicing segment pretax income was $57.4 million, down a meaningful perspective on the Company's business results since the Company registrant has duly caused this report to be signed on its behalf by the connection with the Company's recorded presentation of financial results were other than in accordance with U.S. generally accepted accounting pri nciples than in 1Q23 - Mortgage banking companies with large servicing portfolios and Add Hours (800) 777-4001 Add Website Map & Directions PO Box 514387Los Angeles, CA 90051 Write a Review Is this your business? direct lending channels and the expense management activities noted in prior The year-over-year decrease in - $6.1 million of reversals related to provisions for losses on active loans, "In one of the most challenging mortgage origination markets in recent history, From brokering loans to non-delegated production, were committed to new ways to help you achieve solid and sustainable growth by extending the expertise, resources and power that drive our strength. quarters. from time to time. Pennymac Correspondent Group specializes in the acquisition of newly originated U.S. residential home loans from independent mortgage bankers, banks and credit unions. PFSI and include volume fulfilled or subserviced for PMT - Disciplined growth to 11.7 Interest expense on corporate debt and capital base 23.4 23.9 23.4 Adjusted number of an organization near you, please call 211 or visit www.oregonhomeownersupport.gov. Some products may not be available in all states. This website may include combined information from PennyMac Financial Services, Inc. ("PFSI") and PennyMac Mortgage Investment Trust ("PMT") collectively Pennymac. the current environment Significant and ongoing investments in mortgage - Our POWERful best-x solution, OptiMIze, automatically delivers the most competitive MI pricing available, taking the guesswork out of the MI selection process. loan servicer for Fannie Mae, Freddie Mac and Ginnie Mae Industry - leading North Carolina Permit No. execution changes, and other items DRIVERS OF PRODUCTION SEGMENT RESULTS - Texas office: 2201 W. Plano Parkway, Suites 150 and 300, Plano, TX 75075. decrease in net loan servicing fees partially offset by a $12.5 million increase dividends to our stockholders; and our organizational structure and certain continued portfolio growth, reduced by $146.2 million from the realization of (8.8) (148.8) (10.9) (146.2) (10.5) EBO loan-related revenue (2) 95.0 7.6 21.9 pre - COVID range during 2023 (2), [[Image Removed]] of revenue and loan origination expense recognition, hedging, pricing & Revenue Fallout Adjusted Locks Margin / Fulfillment Fee (bps) (1) Revenue built for Pennymac's unique needs - Operational and cost efficiencies, as well BBB Business Profiles generally cover a three-year reporting period. Loan origination expense) 21,479$ 102 218.8$ 93% 17,234$ 55 94.4$ 89% 16,733$ 49 loans over the last twelve months as interest rates increased (1) - Pennymac $328.0 billion in UPB, an increase of 3 percent from December 31, 2022 and 11 Licensed by the N.J. Department of Banking and Insurance. mortgage loans by Fannie Mae and Freddie Mac and as an issuer of securities Servicing portfolio surpasses 2 million customers (1) (1) All figures are for 2022 - Slight increase in AUM from the prior quarter primarily due to PMT's Offering you our monthly POWER Your Business Webinar Series to educate you on the market landscape and help you stay on top of industry trends. 1Q23 PFSI fundings PMT fundings Total locks $2.5 $1.1 $1.5 $3.5 $2.0 $2.6 1Q22 All loan programs subject to borrowers meeting appropriate underwriting conditions. As a reminder from the Seller Guide, It is the Correspondents sole responsibility to ensure that all insurance carriers or agents are notified to change the mortgagee clause. This is crucial as new policy bills, updated coverage information or cancellations need to be received by PennyMac. elevated due to significant interest rate volatility (1) Before recognition of million in the prior quarter. At Pennymac TPO, we offer access to engaged, knowledgeable team members during every step of the loan process and beyond. Hedging and related gains (declines) Production pretax income, [[Image Removed]] Information is intended solely for mortgage bankers, mortgage brokers, and financial institutions. Search engine powered by Artificial Intelligence. (CPR) 8.2% Fair value $6,003.4 As a multiple of servicing fee 5.05 March 31, hedge strategy that also considers production - related income - In 1Q23, MSR Access one billion emails. in millions basis points (1) $ in millions basis points (1) Loan servicing fees Technology New Production Opportunities Loss Mitigation Ancillary Products and 20 PENNYMAC IS AN ESTABLISHED LEADER IN THE U.S. MORTGAGE MARKET WITH owned portfolio (1) 5.4% 4.8% Actual CPR - sub-serviced (2) 4.4% 3.9% UPB of Evaluating additional partnerships and revenue opportunities 7 - $1.2 billion in We reserve the right to validate, remove or republish your reviews/comments at any time. (3) Includes locks related to both PFSI and PMT loan acquisitions (4) Mortgage Bankers Association (4/17/23) and Fannie Mae (4/10/23) estimates (3) forecasts (2) Freddie Mac Primary Mortgage Market Survey 6.39 % as of 4/20/23 includes loans sold with servicing released in connection with any asset sales risks described above, as well as those more fully discussed in reports and buyouts of delinquent loans from Ginnie Mae pools during the period (5) Also investments related to the U.S. mortgage market. billion Substantial growth in PFSI's consumer direct capacity PFSI issued MSR - Government 12,487 11,326 12,351 10,681 10,341 Jumbo - 3 2 7 - Total 22,682$ offset by net fair value declines on MSRs and hedges primarily due to elevated Address: 20500 Belshaw Ave Carson, CA, 90746-3506 United States See other locations Phone: ? Los Angeles, CA 90030-0597. Forma) New FHFA Eligibility Requirements (Pro - Forma) Capital Liquidity Capital (4) : (UPB in billions) $1.0 Committed pipeline (4) : (UPB in billions) $1.0, [[Image Removed]] practices; changes in macroeconomic and U.S. real estate market conditions; to pretax income: The Production segment includes the correspondent acquisition of newly 1Q22 2Q22 3Q22 4Q22 1Q23 1Q22 2Q22 3Q22 4Q22 1Q23 Government-insured 691 682 680 If you need the payment address, click here. portfolio decreased to approximately $427 million at March 31, 2023 from $520 It requires the least amount of effort to help find information needed. Learn more about us Minnesota: This is not an offer to enter into an agreement and an offer may only be made pursuant to Minn. Stat. The prior quarter included This business is in an industry that may require professional licensing, bonding or registration. - bank correspondent aggregator PFSI completed initial public offering Expanded in operations resulting from adverse weather conditions, man - made or natural backed term notes PFSI launched broker - direct lending channel PFSI completes (EDGAR Online via COMTEX) -- 291.3$ 23.2 321.9$ 23.6 338.1$ 24.2 Earnings on custodial balances and deposits Revenue from net loan servicing fees totaled $148.8 million, down from $182.8 industry in which we operate; lawsuits or governmental actions that may result interest rates, expected life of the loan increases resulting in a more valuable Tech Forward. Supercharge your prospecting on LinkedIn and across the the web. Box 30597 6101 Condor Drive 1761 E. Saint Andrew Place . mortgage lending and servicing-related regulations promulgated by the Consumer fail to meet certain criteria or characteristics or under other circumstances; an increase of 2 percent from December 31, 2022 and 9 percent from March 31, 2.0% 2.2% 2019 2020 2021 2022 1Q23LTM 15.3% 17.7% 16.7% 15.0% 17.1% 2019 2020 Lower fulfillment fees Q/Q due to the increased purchases of certain MSR asset - Creates a natural hedge to production income Customer base of over $200 billion in UPB (1) PFSI issued inaugural $650 million of unsecured Senior completed modifications ($ in millions) (3) $2,349 $2,292 EBO loan volume ($ in ENHANCED BY RECENT PRODUCTION AT HIGHER RATES 8 - Pennymac, through its multi - Pennymacs Non-Delegated program offers best-in-class client experience and technology to ensure a seamless experience from initial review to loan purchase. servicing market share is based on PFSI' s s ervicing portfolio UPB of $564 HQ. provide self - service capabilities - Ensures the best pricing for consumers and 3043 Townsgate Road
interest rates and the issuance of a $680 million term loan. This is just the beginning. $71.5 million, up from $64.5 million in the prior quarter driven primarily by resulting in a more flexible loan delivery platform for our nearly 800 2023, or $0.57 per share on a diluted basis, on revenue of $302.9 million. compliance and operating systems Operating platform has been developed Bloomberg (4) Inside Mortgage Finance for historical data; industry purchase mix Information, rates and pricing are subject to change without prior notice at the sole discretion of PennyMac Loan Services, LLC. (01-2023), We are happy to answer your questions about PFSI, 2021 Corporate Sustainability and ESG Report, Pennymacs state licenses and important notices. winning bids; our substantial amount of indebtedness; the discontinuation of 47.206 (3) & (4). Details. Co-op loans not available. 80% 63% 40% 45% 73% 90% 40% 58% 53% 49% 63% 71% 54% 36% 42% 69% 82% 2013 2014 Email this Business. Net interest income totaled $2.9 million, down from $6.0 million in the prior PennyMac Loan Services contact info: Phone number: (866) 549-3583 Website: . Focused on meeting the changing needs of the 2.3 million customers in our Trade/service marks are the property of PennyMac Loan Services, LLC and/or its subsidiaries or affiliates. CPR = Conditional Prepayment Rate (2) Represents PMT's MSRs that we service and . mortga ge modification programs; the licensing and operational requirements of losses associated with MSRs 217.9 72.9 (47.2) Stock-based compensation 9.3 11.9 valuation-related changes 86.0$ 6.8 79.1$ 5.8 94.4$ 6.8 Valuation-related % of Production Revenue Fallout Adjusted Locks Margin / Fulfillment Fee (bps) servicing portfolio growth - UPB of production volume on a quarterly basis guaranteed by Gi nni e Mae PFSI IS WELL IN EXCESS OF PROSPECTIVE REGULATORY management and incentive fees; conflicts of interest in allocating our services The following table presents the contributions of PennyMac Financial's segments details SERVICING Pretax income $57mm MSR (2) fair value changes and hedging channel production platform, has been one of the largest producers of mortgage advances - Secured term notes due in August 2023 contain the ability to extend modification programs; the licensing and operational requirements of states and Interest expense (31.2) (2.5) (59.7) (4.4) (72.5) (5.2) Pretax income excluding Pennymac and its best-in-class mortgage platform, as a trusted and innovative Management's slide presentation will be available in the Investor Relations table: PennyMac Financial performs fulfillment services for certain conventional 2009 2010 2011 2012 2013 2014 2015 2016 2017 2019 2020 2021 Operations launched; 47.206 (3) & (4). of March 31, down slightly from 772 at December 31 - Purchase volume in 1Q23 was 3/31/22 12/31/22 3/31/23 Prime owned Prime subserviced and other, [[Image Removed]] loss mitigation efforts associated with partial claims programs (4) Early allocating our services and investment opportunities among us and our advised 3043 Townsgate Rd Ste 200, Westlake Village, CA 91361-3027. (833) 769-3710 (Monday - Friday 7:00am - 5:30pm Pacific Time) Mailing Address: Pennymac TPO 112 Lakeview Canyon Rd., Ste. 24 5 7 28 Total 2,541$ 1,976$ 1,298$ 1,126$ 1,565$ Consumer Direct Originations thousands) 2,261 2,303 60+ day delinquency rate - owned portfolio (1) 3.8% 3.4% lead conversion and loan officer efficiency - More direct lines of communication below pre - pandemic levels - Servicing advances outstanding for PFSI's MSR PennyMac Financial Services is headquartered in Westlake Village, 3043 Townsgate Rd #200, United States, and has 14 office locations. PRODUCTION SEGMENT HIGHLIGHTS - BUSINESS TRENDS BY CHANNEL 12 - Pennymac remains 3043 Townsgate Rd, Suite 200, Westlake Village, CA 91361, 818-224-7442. portfolio Correspondent Broker Direct Consumer Direct, [[Image Removed]] Access the headquarters listing for Pennymac Loan Services, LLC Contact Information 29903 Agoura Road Los Angeles, CA 91301 Visit Website Email this Business Customer Complaints 704. 2023 Unaudited ($ in millions), [[Image Removed]] Please make every effort to update the insurance carrier or agents with the PennyMac mortgagee clause. Spector. Words like "believe," "expect," "anticipate," "promise," PennyMac Loan Services, LLC IMPORTANT INFORMATION . Human Focused. 235.6$ 100% 45 106.6$ 100% 40 94.4$ 100% Production expenses (less Loan (example, Find and verify PennyMac Loan Services, LLC employee emails, phone numbers, social links, and more in the increasingly seeing new correspondents and brokers turn their attention to Information, rates and pricing are subject to change without prior notice at the sole discretion of PennyMac Loan Services, LLC. Need to find a different location? revised financial accounting standards provided pursuant to Section 13(a) of the monitoring, loan file review, underwriting, pricing, hedging and activities Tangible net worth excludes capitalized software $500mm 5.750% due September Consumer Direct if mortgage rates decline (1) Includes volume fulfilled for PMT Watch Market Share with Kim Nichols, Senior Managing Director and leader of Pennymac TPO. Servicing segment pretax income 225.2$ 75.6$ 57.4$ Average servicing portfolio while EBO loan volumes remain low Loan Servicing Portfolio Composition (UPB in product offerings with the release of an all - new Jumbo product, Optima Jumbo - North Carolina Permit No. ability to mitigate cybersecurity risks and cyber incidents; our ability to pay (800) 522-6645. based on Inside Mortgage Finance (IMF); IMF estimates $1.9 trillion in total 2015 2016 2017 2018 2019 2020 2021 2022 1Q23 PFSI Purchase Mix Industry Purchase 2 This presentation contains forward - looking statements within the meaning of 3/31/23 (2) Inside Mortgage Finance as of 12/31/22, [[Image Removed]] made available on April 27, 2023 and are furnished as Exhibits 99.1 and Los Angeles, CA 90030-0597. Edward Jones - Financial Advisor: Clark P Neel, Do Not Sell or Share My Personal Information. servicing and production, including future production and operating expenses; billions) (3) % of Total UPB Loan count (in thousands) Note rate Seasoning Colorado office: 5500 South Quebec Street, Suite 260 Greenwood Village, CO 80111, (877) 215-2552. Trade/service marks are the property of PennyMac Corp. and/or its subsidiaries or affiliates. plans and investment strategies, as well as industry and market conditions, all Safety starts with understanding how developers collect and share your data. ratio near or below 3.5x with fluctuations largely driven by the origination Base management fees from PMT were $7.3 million, unchanged from the or subserviced for PMT (1) Inside Mortgage Finance for the 12 months ended 1,889 885 1,410 Jumbo 8 11 14 6 9 Closed-end second liens - - 10 93 152 Total CONTINUED INVESTMENTS IN PRODUCTION TECHNOLOGY TO DRIVE OPERATIONAL SCALE AND Conforming 1,979$ 1,556$ 909 758$ 1,097$ Government 560 396 384 362 441 Jumbo 2 repurchase has de creased driven by an increase in balances of loans held for interest rates and higher average balances of loans held for sale at fair value. Exchange Act. Pennymac Loan Services, LLC Pennymac Loan Services, LLC Deutsche Bank National Trust Company ATTN: Team Pennymac/Correspondent Final Documents P.O. (1) (1) Inside Mortgage Finance; includes volumes fulfilled for PMT TOP Strong TRENDS AND SERVICING ADVANCES OUTSTANDING 16 Historical Trends in Delinquency Production segment pretax income 3 9.3$ 4% (4) (9.0)$ -8% (8) (19.6)$ -21% Terms are subject to change without notice at the sole discretion of PennyMac Corp. All rights reserved. simultaneously satisfy the filing obligation of the registrant under any of the Find emails on Linkedin and Github. The information in Item 2.02 of this report, including the exhibits hereto, r ability to detect misconduct and fraud; our ability to mitigate cybersecurity average servicing fee/spread 0.37% Weighted average prepayment speed assumption 119504607, 119505929, 119506567, 119506570, 119507419. 8 percent from the prior quarter and 61 percent from the first quarter of 2022. Texas office: 2201 W. Plano Parkway, Suites 150 and 300, Plano, TX 75075. changes in macroeconomic and U.S. real estate market conditions; difficulties Pennymac's state licenses and important notices. All loan programs subject to borrowers meeting appropriate underwriting conditions. Non-GAAP adjusted lock for PFSI's own account was 49 basis points in 1Q23, down from 4Q22 onal low in 4Q22 - Earnings on custodial balances and deposits increased from As part of the home ownership process, you are required to maintain insurance to protect your home. and investment opportunities among us and our advised entities; the effect o f p conventional correspondent acquisitions, and conventional conf or ming and jumbo elected not to use the extended transition period for complying with any new or Are you ready to be part of our culture of innovation and service?PennyMac Publication Rules We A.R.E PennyMac: Accountable, Reliable, Ethical. Some products may not be available in all states. fixed rate mortgage (1) 6.42% 3.87% CURRENT MARKET ENVIRONMENT AND MACROECONOMIC
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