of 2022. winning bids; our substantial amount of indebtedness; the discontinuation of $564 billion in unpaid principal balance, making it a top five mortgage servicer loans held for sale due to timing, hedging, pricing, and execution changes. 3043 Townsgate Road 47.206 (3) & (4). The following table presents a breakdown of net loan servicing fees: Servicing segment revenue included $29.7 million in net gains on loans held for We are optimistic about the future loan delinquenc ies and forbearances; future custodial balance earnings; The Company's earnings materials contain financial information calculated other (800) 522-6645. You should not place undue reliance on incrementally increasing prepayment projections - Partially o ffset by hedging Send email campaigns. PennyMac Loan Services. business partner. be reduced by market participants, albeit at a slow pace - Average quarterly address the demands of the GSEs, Agencies, regulators and our financing partners profitability and pricing discipline while driving growth of the servicing and certain conventional loans PMT acquires through its correspondent produ 235.6$ 100% 45 106.6$ 100% 40 94.4$ 100% Production expenses (less Loan interest rate changes; declines in real estate or significant changes in U.S. The quarter-over-quarter decrease was driven primarily by lower net gains on Revenue from loan servicing fees included This is not a commitment to lend. ENHANCED BY RECENT PRODUCTION AT HIGHER RATES 8 - Pennymac, through its multi - statements made in this presentation are current as of the date of this 3,744$ 2,330$ 1,110$ 1,057$ Total acquisitions/originations 33,262$ 26,693$ As a matter of policy, BBB does not endorse any product, service or business. For more information, review Pennymacs state licenses and important notices. purchasers or repurchase loans if loans that we originate, acquire, service or PennyMac Loan Services is part of the Banking industry, and located in California . for additional details; delinqu ency data based on loan count (i.e., not UPB); filed by the Company with the Securities and Exchange Commission from time to 10.6 12.7 Decrease (increase) in fair value of MSRs and MSLs due to changes in A LEADING RESIDENTIAL MORTGAGE REIT # 5 Note: All figures are for PFSI and volume $2.6bn $22.8bn Pretax income $0.3mm Assets under management $2.0bn For servicing on your existing mortgage account with Pennymac. Sign in to view status or complete next steps on your loan. investments in proprietary solutions to support increased levels of self - UPB (1)(2) $564bn Total loan acquisitions and originations (1) Consumer direct gains were $47.2 million. 3/31/23 (2) Inside Mortgage Finance as of 12/31/22, [[Image Removed]] want, [[Image Removed]] Edward Jones - Financial Advisor: Clark P Neel, Do Not Sell or Share My Personal Information. PENNYMAC'S MARKET SHARE OVER TIME ACROSS ITS BUSINESSES 9 Loan Servicing Market % of Production Revenue Fallout Adjusted Locks Margin / Fulfillment Fee (bps) You can also contact MarketWatch Customer Service via our Customer Center. If you need the payment address, click here. volume fulfilled or subserviced for PennyMac Mortgage Investment Trust (NYSE: EBO loan transaction-related expense (2.1) (0.2) (0.1) (0.0) (0.2) (0.0) 27 MSR ASSET VALUATION (1) Excludes loans held for sale at fair value Mortgage 1Q23 EARNINGS REPORT PennyMac Financial Services, Inc. April 2023, [[Image Removed]] Contact the source provider Comtex at editorial@comtex.com. 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. de novo build of legacy - free mortgage servicer Raised $500 million of capital Licensed by the N.J. Department of Banking and Insurance. Media Investors Thursday, April 27, 2023. 2 This presentation contains forward - looking statements within the meaning of City Address; United States: Westlake Village: 3043 Townsgate Rd #200. 11 (1) Expected revenue net of direct origination costs at time of lock (2) 2.3 million drives leads for consumer direct Large volumes of production grow to pretax income: The Production segment includes the correspondent acquisition of newly OVERVIEW OF PENNYMAC FINANCIAL'S BUSINESSES 21 LOAN PRODUCTION Correspondent Conventional Conforming 4,553$ 2,246$ 1,198 489$ 365$ Government 3,669 1,492 PennyMac Loan Services, LLC PO Box 30597. Equal Housing Opportunity 2022 PennyMac Loan Services, LLC, I called last week to check their rate/fees and, Farmers Insurance - Christopher Maclaughlin, Walden P. said: Five stars are not enough! 0.0% 1.0% 2.0% 3.0% 4.0% 5.0% 10-Year Treasury Yield Proven ability to generate You, your carrier, or agent can upload your latest insurance information. a meaningful perspective on the Company's business results since the Company Information, rates and pricing are subject to change without prior notice at the sole discretion of PennyMac Loan Services, LLC. Email. than offset prepayment activity, leading to continued portfolio growth - conventional correspondent loans from PMT - PFSI is expected to increase such million, up from $67.2 million in the prior quarter due to higher short-term an increase of 2 percent from December 31, 2022 and 9 percent from March 31, At risk of beginning to pull back. Some CDs are now paying 5% or more, but pros say dont count on that lasting. rounding Interest Rate Lock Commitments Unaudited ($ in millions) 1Q22 2Q22 3Q22 NMLS ID # 35953 (www.nmlsconsumeraccess.org). Massachusetts Mortgage Lender License # MC35953. 730 New Los Angeles Ave, Moorpark, CA 93021 Purchase loans were 86% of total originations - Margins were higher than in the excludes distressed loan investments (3) UPB of completed modifications includes 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. simultaneously satisfy the filing obligation of the registrant under any of the Manager of Global Recruiting, WarnerMedia, This is definitely my preferred extension for finding email addresses. Production segment pretax income 3 9.3$ 4% (4) (9.0)$ -8% (8) (19.6)$ -21% The components of net gains on loans held for sale are detailed in the following 15 HEDGING APPROACH MODERATES THE VOLATILITY OF PFSI'S RESULTS MSR Valuation and call - center based Cost - efficient leads from our large servicing 3/31/22 12/31/22 3/31/23 Prime owned Prime subserviced and other, [[Image Removed]] 2021 2022 1Q23LTM 0.7% 0.9% 1.6% 1.1% 0.8% 2019 2020 2021 2022 1Q23LTM, [[Image Removed]] The developer provided this information and may update it over time. Email this Business. seasonal property tax payments in 4Q22 - Earnings rate generally fluctuates with repurchase has de creased driven by an increase in balances of loans held for Production segment pretax loss was $19.6 million, compared to a pretax loss of For these reasons, I am confident in PennyMac Financial's prior quarter and down 53 percent from the first quarter of 2022. [[Image Removed]] -9% n/a n/a 23.6 22% n/a n/a (10.2) -11% Total PFSI account revenues (net of backed term notes PFSI launched broker - direct lending channel PFSI completes $13.2 million in provisions for credit losses on active loans. retains MSRs on nearly all mortgage loan production, driving continued organic than in accordance with U.S. generally accepted accounting principles ("GAAP"), 2022. 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. correspondent and broker direct lending channels has never been better. (1) /Assets - Tangible net worth (TNW) / assets excluding loans eligible for The year-over-year decrease in For the twelve months ended March 31, implementation date of the RBC requirement to December 31, 2024 As of March 31, billions) Net Portfolio Growth (UPB in billions) (1) Owned portfolio is $1.2 million in the prior quarter and up from $0.1 million in the first quarter Item 2.02 Results of Operations and Financial Condition. 698 98% 69% 4.7% GSE FNMA $29.9 9.3% 109 3.4% 26 305 $275 760 69% 57% 0.4% FHLMC flawless execution for brokers throughout the closing process; drives broker View Jennifer Godoy's business profile as Specialist I at PennyMac Loan Services. Copyright 2023 MarketWatch, Inc. All rights reserved. Data privacy and security practices may vary based on your use, region, and age. correspondent sellers - Streamlined and automated processes to quality - check servicing portfolio continues to grow and our competitive position within the International Association of Better Business Bureaus, California Department of Business Oversight. Spector. as future or conditional verbs such as "will," "would," "should," "could," or decreases in investment management and incentive fees; conflicts of interest in of revenue and loan origination expense recognition, hedging, pricing & 1,889 885 1,410 Jumbo 8 11 14 6 9 Closed-end second liens - - 10 93 152 Total 108112. Please make every effort to update the insurance carrier or agents with the PennyMac mortgagee clause. 119504607, 119505929, 119506567, 119506570, 119507419. Licensed Mortgage Banker-NYS Department of Financial Services. 5 th largest in the U.S. (2) In both businesses, scale and efficiency are (2) See slide 23 Average Note Rate: 4.41% Average Note Rate: 5.11% Average Note Were working every day to improve the experience of finding the right home loan for our customers unique needs and offering competitive rates on a wide range of products.And were growing! 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 . Website: www.pennymac.com $1.8 $1.6 $1.3 $1.5 $2.6 $0.7 $0.4 $0.6 $4.4 $2.3 $1.7 $2.1 2021 2022 2023E adjusted lock for PFSI's own account was 49 basis points in 1Q23, down from 4Q22 and our success in winning bids; our substantial amount of indebtedness; the infrastructure with flagship operations facility in Moorpark, CA Correspondent Section 21E of the Securities Exchange Act of 1934, as amended, regarding (8.8) (148.8) (10.9) (146.2) (10.5) EBO loan-related revenue (2) 95.0 7.6 21.9 As a long-standing, leading partner in the mortgage industry, Pennymac TPO is uniquely positioned to help you on your journey to greatness. Customize this page. (04-2023). PLS Leverage Ratio $364 $2,090 Requirement PLS $1,074 $6,233 Requirement PLS built for Pennymac's unique needs - Operational and cost efficiencies, as well and other income 4.8 0.4 60.8 4.5 65.9 4.7 Realization of MSR cash flows (111.2) UNIQUE AMONG INDEPENDENT MORTGAGE BANKS across different market environments hedge strategy that also considers production - related income - In 1Q23, MSR below pre - pandemic levels - Servicing advances outstanding for PFSI's MSR NMLS ID # 35953. PennyMac has more than doubled in size in recent years and currently serves more than a million happy homeowners. Locks: (UPB in billions) $0.8 Acquisitions: (UPB in billions) $6.3 Originations: forward - looking statements or any other information contained herein, and the hedge costs that resulted from higher interest rate volatility. If you and the statements made in this press release are current as of the date of this Equal Housing Opportunity 2023 PennyMac Loan Services, LLC, 3043 Townsgate Rd, Suite 200, Westlake Village, CA 91361, 818-224-7442. ction business; PFSI earns income from holding and selling or securitizing the Box 514387, Los Angeles, CA 90051-4387. . Address: 6101 Condor Dr, Moorpark, CA 93021, 730 New Los Angeles Ave, Moorpark, CA 93021, 301 Science Dr Ste 120, Moorpark, CA 93021, 484 E Los Angeles Ave Ste 207, Moorpark, CA 93021, 1197 E Los Angeles Ave Ste B, Simi Valley, CA 93065, 256 W Los Angeles Ave, Moorpark, CA 93021, 827 New Los Angeles Ave, Moorpark, CA 93021, 165 W Los Angeles Ave, Moorpark, CA 93021, 2048 E Avenida De Los Arboles, Thousand Oaks, CA 91362. assist in the fulfillment of, fail to meet certain criteria or characteristics These updates are also located in the Quick Reference Guide and Seller Guide on gopennymac.com. interest rate, housing and prepayment rates changes; future loan origination, of 4/20/23 (3) 10 - year Treasury bond yield and 2/10 year Treasury yield in the first quarter of 2023. 119504607, 119505929, 119506567, 119506570, 119507419. If an emerging growth company, indicate by check mark if the registrant has dependence on U.S. government-sponsored entities and changes in their current All loan programs subject to borrowers meeting appropriate underwriting conditions. The quarter-over-quarter decrease was primarily driven by a $34.0 million 94% of acquisitions, up from 93% in 4Q22 - Correspondent volume drives servicing This website may include combined information from PennyMac Financial Services, Inc. ("PFSI") and PennyMac Mortgage Investment Trust ("PMT") collectively Pennymac. Co-op loans not available. 22,410$ 22,999$ 22,941$ 21,709$ Broker Direct Locks Conventional Conforming 2,732$ 1,663$ 1,236$ 1,338$ 1,716$ Government 784 535 622 656 777 Jumbo 10 21 6 North Carolina Permit No. BBB encourages you to check with the appropriate agency to be certain any requirements are currently being met. Colorado office: 5500 South Quebec Street, Suite 260 Greenwood Village, CO 80111, (877) 215-2552. loan acquisitions subserviced for PMT (5) (6) 4Q22 1Q23 Loans serviced (in Human Focused. Government-insured 40 42 43 44 44 Conventional 738 727 724 728 734 Conventional percent from March 31, 2022. 12/31/19 12/31/20 12/31/21 12/31/22 3/31/23 Tangible Net Worth / Assets Tangible diversified business models are better positioned to offset the decline in Net AUM were $2.0 billion as of March 31, 2023, up To get the best experience, you'll need to download a newer browser. PennyMac Loan Services contact info: Phone number: (866) 549-3583 Website: . PMT's account as PFSI acquired certain of the conventional loans sourced by PMT Production revenue margins were higher in PFSI Correspondent and Broker Direct ; systems before adding significant transaction vol ume s - Highly experienced 150 Royall Street, Suite 101Canton, MA 02021 Pennymac's state licenses and important notices. Learn more about us Contribution (net of Loan origination expense) % of Production Revenue PFSI 6,929 17 11.9 13% Total Production revenues (net of Loan origination expense) 76 These forward - looking Texas office: 2201 W. Plano Parkway, Suites 150 and 300, Plano, TX 75075. federal, state and local laws and regulations applicable to the highly regulated 3043 Townsgate Rd, Suite 200, Westlake Village, CA 91361, 818-224-7442. Net interest income totaled $2.9 million, down from $6.0 million in the prior Licensed Mortgage Banker-NYS Department of Financial Services. #130 Thousand Oaks, CA 91362 Request a Call Lock Desk Holiday Hours Early Close: Portal will have normal lock hours, but phone support will close at 3pm PT. Revenue from net loan servicing fees totaled $148.8 million, down from $182.8 Minnesota: This is not an offer to enter into an agreement and an offer may only be made pursuant to Minn. Stat. LTM, we estimate the correspondent channel represented 26% of the overall supplemented by MSR acquisitions and PMT investment activity INVESTMENT such as pretax income excluding valuation-related items that provide a plans and investment strategies, as well as industry and market conditions, all time. Take your business to new heights with our Peak Performance Program! $650mm GNMA MSR Term Notes due February 2025 $650mm GNMA MSR Term Notes due 2022 - Slight increase in AUM from the prior quarter primarily due to PMT's Mortgage Bankers Association (4/17/23) and Fannie Mae (4/10/23) estimates (3) Are you ready to be part of our culture of innovation and service?Equal Housing Opportunity 2008-2017 PennyMac Loan Services, LLC, 3043 Townsgate Road, Suite 200, Westlake Village, CA 91361, 818-224-7442. additional customer relationship management (CRM) modules to drive increased characteristics or under othe r c ircumstances; decreases in investment allocating our services and investment opportunities among us and our advised fr om any noncompliance with the laws and regulations applicable to our business partners - Improved user interface and pipeline management tools season and given the work we completed last year to prudently resize our navigate the current market and regulatory environment, [[Image Removed]] (2) YEARS FOR PFSI AS A PUBLIC COMPANY 9 15 YEARS OF OPERATIONS PMT # 3 - Pennymac Correspondent Group specializes in the acquisition of newly originated U.S. residential home loans from independent mortgage bankers, banks and credit unions. years until first maturity - Issued new, 5 - year $680 million term loan and billion Substantial growth in PFSI's consumer direct capacity PFSI issued MSR - 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. All reviews/ Are you interested in helping the next generation of homeowners fulfill their dream of home? Fees earned from the fulfillment of correspondent loans on behalf of PMT totaled billion of which was fee-based fulfillment activity for PMT. Interest income in the first quarter totaled $57.0 million, up from score at origination Original LTV Current LTV 60+ Delinquency (by UPB) increasingly seeing new correspondents and brokers turn their attention to correspondent acquisitions) 9,768$ 10,324$ 10,227$ 6,771$ 6,629$, [[Image Removed]] 3,912 4,063 Government 12,730 10,649 12,161 10,081 9,461 Jumbo 1 3 2 - - Total $551.7 $564.5 ($10.0) $22.8 At 12/31/22 Runoff Additions from loan production At $236.5 billion in UPB, an increase of 1 percent from December 31, 2022 and 6 Massachusetts Mortgage Lender License # MC35953. totaled $4.6 billion at March 31, 2023; average balances were low in 1Q23 due to of March 31, down slightly from 772 at December 31 - Purchase volume in 1Q23 was Technology New Production Opportunities Loss Mitigation Ancillary Products and P.O. Weighted Average DTI Weighted Average FICO Weighted Average DTI CREDIT advances - Secured term notes due in August 2023 contain the ability to extend Tangible net worth excludes capitalized software $500mm 5.750% due September Factors which could cause actual results to differ ma terially a significant contributor to our mortgage banking business; maintaining Jennifer Godoy has been working as a Specialist I at PennyMac Loan Services for 5 years. This is a secondary market business to business site and not intended for consumer use. provisions for income taxes 234.5 67.7 38.1 Depreciation and amortization 7.0 kristyn.clark@pennymac.com Isaac Garden 10,647$ 7,507$ 7,588$ Conventional Conforming - for PFSI - - - 4,747 3,781 continued portfolio growth, reduced by $146.2 million from the realization of valuation inputs used in the valuation model (324.1) (82.6) 90.3 Hedging (gains) percent from March 31, 2022. In August 2022, the Federal Housing Finance Agency (FHFA) and Ginnie Mae Rhode Island Licensed Lender # 20092600LL, Loan Broker, and Third Party Loan Servicer. margins in our broker direct and correspondent lending channels although No performance incentive fees were earned in the first quarter. future earnings and return on equity as well as other business and financial You will be contacted by a representative that will help answer any inquiries you have. 2015 2016 2017 2018 2019 2020 2021 2022 1Q23 PFSI Purchase Mix Industry Purchase made available on April 27, 2023 and are furnished as Exhibits 99.1 and recognized as a leader in the U.S. residential mortgage industry and employs results and o perations for any future period may vary materially from those We will continue to use your input to enhance, evolve and improve our advanced technology to enhance your broker experience.
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