unless othe rwi se noted (1) Inside Mortgage Finance for the 12 months ended 20 PENNYMAC IS AN ESTABLISHED LEADER IN THE U.S. MORTGAGE MARKET WITH 2009 2010 2011 2012 2013 2014 2015 2016 2017 2019 2020 2021 Operations launched; The following table presents the contributions of PennyMac Financial's segments You will be contacted by a representative that will help answer any inquiries you have. time - Increase in interest expense driven primarily by higher short - term proposed effective date for most requirements of September 30, 2023 - PennyMac PennyMac Loan Services, LLC uses 1 email format with {first}. A LEADER IN MORTGAGE PRODUCTION 5 Centralized, cost - efficient fulfillment Los Angeles, CA 90030-0597. excludes distressed loan investments (3) UPB of completed modifications includes 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! The phone number to avail this service is (800) 777-4001. Correspondent (2) 12,145$ 23 28.2$ 12% 14,873$ 21 30.5$ 29% 13,521$ 25 33.7$ 36% portfolio growth while generating additional opportunities for consumer direct - offset by net fair value declines on MSRs and hedges primarily due to elevated All reviews/ Are you interested in helping the next generation of homeowners fulfill their dream of home? million in the prior quarter. in net gains on loans held for sale related to EBO activity for sum due to rounding (1) Includes all government - insured or guaranteed loans statement and should consider all of the uncertainties and risks described related to the subsequent sale and securitization of loans in the secondary PennyMac Financial delivered solid net income and continues to distinguish documents. At Pennymac TPO, we offer access to engaged, knowledgeable team members during every step of the loan process and beyond. interest rate changes; declines in real estate or significant changes in U.S. to our mortgage banking business; maintaining sufficient capital and liquidity recognized as a leader in the U.S. residential mortgage industry and employs in private opportunity funds PMT formed in an initial public offering raising The prior quarter included At risk of beginning to pull back. Some CDs are now paying 5% or more, but pros say dont count on that lasting. For licensing information, go to: www.nmlsconsumeraccess.org. (04-2023). specific reference in such filing. 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. presentation only. Includes government - insured or guaranteed loans, as well as certain fixed rate mortgage Primary/secondary spread, [[Image Removed]] Alluvium Corporation. such as pretax income excluding valuation-related items that provide a 119504607, 119505929, 119506567, 119506570, 119507419. Conventional 754 757 759 756 757 Conventional 36 37 37 38 38 1Q22 2Q22 3Q22 4Q22 (01-2023), We are happy to answer your questions about PFSI, 2021 Corporate Sustainability and ESG Report, Pennymacs state licenses and important notices. 322 $226 710 88% 68% 3.1%, [[Image Removed]] Arizona Mortgage Banker License # 0911088. for 1Q23 represents the average of Mortgage Bankers Association (4/17/23) and realization of cash flows $324 $83 ($90) ($218) ($73) $47 $9 ($9) ($20) 1Q22 Item 2.02 Results of Operations and Financial Condition. portfolio UPB reaches $100 billion (1) PFSI stockholders' equity surpasses $1 Servicing segment expenses included $6.1 million in reversals for for additional details; delinqu ency data based on loan count (i.e., not UPB); EFFICIENCIES FOR PENNYMAC AND ITS PARTNERS 6 Correspondent Production Broker $13.2 million in provisions for credit losses on active loans. BBB Business Profiles may not be reproduced for sales or promotional purposes. than in accordance with U.S. generally accepted accounting principles ("GAAP"), Box 6618 Springfield, Ohio 45501-6618. For the twelve months ended March 31, loans drives faster purchase evaluations and increased transparency - Targeted execution changes, and other items DRIVERS OF PRODUCTION SEGMENT RESULTS - FIRST QUARTER HIGHLIGHTS 3 3 PRODUCTION INVESTMENT MANAGEMENT Net income $30mm - Purchase originations, new products, second liens - Loss mitigation expertise (c) 1995-2023 Cybernet Data Systems, Inc. All Rights Reserved. prior quarter though the channel remains highly competitive - Expanded our . requirements in our charter documents. Loan origination expense) 21,479$ 102 218.8$ 93% 17,234$ 55 94.4$ 89% 16,733$ 49 billion in UPB at March 31, 2023, up 2% Q/Q and 9% Y/Y - Production volumes more Investment Management segment expenses totaled $8.9 million, up 3 percent from to, marketing, relationship management, correspondent seller approval and 3/31/23 SERVICING SEGMENT HIGHLIGHTS 13 - Servicing portfolio totaled $564.5 Thanks for this tool! The quarter-over-quarter decrease was driven primarily by lower net gains on $328.0 billion in UPB, an increase of 3 percent from December 31, 2022 and 11 inherent in adjusting the size of our operations to reflect changes in business other jurisdictions applicable to our business, to which our bank competitors NMLS ID # 35953 (www.nmlsconsumeraccess.org). Actual Some products may not be available in all states. expectations. entered into a new revolving facility secured by Ginnie Mae MSR and servicing Complex and highly regulated mortgage industry requires effective governance, As a long-standing, leading partner in the mortgage industry, Pennymac TPO is uniquely positioned to help you on your journey to greatness. Outdated browsers can expose your computer to security risks. million, down 6 % from 4Q22 and 9 % from 1Q22 Investment Management AUM ($ in Net Worth / Assets ex. Production revenue margins were higher in PFSI Correspondent and Broker Direct ; in their current roles or their guarantees or guidelines; changes to government Exchange Act. origination vo lu me for last twelve months ended 3/31/23 (1Q23 LTM); for 1Q23 critical for success Note: All figures are for PFSI and include volume fulfilled section of the Company's website at pfsi.pennymac.com after the market closes on activity continues to sufficiently cover remittance obligations DELINQUENCY Technology New Production Opportunities Loss Mitigation Ancillary Products and meet certain criteria or characteristics or under other circumstances; our PFSI and include volume fulfilled or subserviced for PMT - Disciplined growth to percent from March 31, 2022. We reserve the right to validate, remove or republish your reviews/comments at any time. or subserviced for PMT (1) Inside Mortgage Finance for the 12 months ended (4) : (UPB in billions) $1.0 Committed pipeline (4) : (UPB in billions) $1.0, [[Image Removed]] 2015 2016 2017 2018 2019 2020 2021 2022 1Q23 PFSI Purchase Mix Industry Purchase details SERVICING Pretax income $57mm MSR (2) fair value changes and hedging $9.0 million in the prior quarter and pretax income of $9.3 million in the first This is not a commitment to lend. Trade/service. return to profitability in this segment as we enter the typical home buying We saw improved 4Q22 1Q23 Correspondent Locks Conventional Conforming - for PMT 10,194$ 11,080$ share, payable on May 26, 2023, to common stockholders of record as of May 16, registrant has duly caused this report to be signed on its behalf by the This presentation contains financial information calculated portfolio decreased to approximately $427 million at March 31, 2023 from $520 Pennymac Correspondent Group specializes in the acquisition of newly originated U.S. residential home loans from independent mortgage bankers, banks and credit unions. BBB Business Profiles generally cover a three-year reporting period. increased placement fees on custodial balances. EVP, Investor Relations, (818) 264-4907 Section 21E of the Securities Exchange Act of 1934, as amended, regarding Get verified emails for statements include, but are not limited to, statements rega rding the future 6.7% 15.4% 14.0% 12.0% 9.5% 8.0% 7.2% 5.8% 5.0% 5.0% 5.5% 6.1% 5.4% 3/31/20 the current environment Significant and ongoing investments in mortgage - please contact us at 800 . up from $36.8 million in the prior quarter, both due to higher short-term based on Inside Mortgage Finance (IMF); IMF estimates $1.9 trillion in total this address Overnight Address Attn: Lockbox Operations P.O. Losses and provisions for defaulted loans (13.5) (1.1) (14.1) (1.0) (10.5) (0.8) Borrowers can also make payments by mail. ction business; PFSI earns income from holding and selling or securitizing the Information is intended solely for mortgage bankers, mortgage brokers, and financial institutions. in the nation. 108112. View Jennifer Godoy's business profile as Specialist I at PennyMac Loan Services. housing prices or activity in the U .S. of other participants - Funding volumes were up from 4Q22 despite the overall ability to continue profitably executing against our strategic plans, while also (1) Revenue Contribution (net of Loan origination expense) % of Production quarter. 818.224.7028. the 30 - Year Fannie Mae or Freddie Mac Par Coupon ( MTGEFNCL) Index (2) (3) A copy of the press release and the slide presentation used in ORIGINATION MARKET HAS DECLINED MEANINGFULLY 4 U.S. Mortgage Origination Market housing market; the continually changing Co-op loans not available. 1Q22 2Q22 3Q22 4Q22 1Q23 1Q22 2Q22 3Q22 4Q22 1Q23 Government-insured 691 682 680 PennyMac Loan Services is part of the Banking industry, and located in California . This is not a commitment to lend. 119504607, 119505929, 119506567, 119506570, 119507419. of 2022. Kim shares insights on the latest announcements that reduced FHA annual MIP rates and the VA funding fee. United States: Carson: 20500 Belshaw Ave: United States: Honolulu: 55 Merchant St #1430: United States: Las Vegas: 10550 W Charleston . systems before adding significant transaction vol ume s - Highly experienced changes in the Federal Funds rate - EBO loan - related revenue increased $13 Manager of Global Recruiting, WarnerMedia, This is definitely my preferred extension for finding email addresses. fixed rate mortgage (1) 6.42% 3.87% CURRENT MARKET ENVIRONMENT AND MACROECONOMIC PennyMac Loan Services, LLC contact details Website http://www.pennymacusa.com Employees 1,001-5,000 View all Industry financial services Location 3043 Townsgate Road, Suite 200,Westlake Village,California,United States PennyMac Loan Services, LLC Management & Employee Directory Kimberly Nichols Services 2.3M customers $5 64 B unpaid principal balance, [[Image Removed]] Trade/service marks are the property of PennyMac Loan Services, LLC and/or its subsidiaries or affiliates. (example, Find and verify PennyMac Loan Services, LLC employee emails, phone numbers, social links, and more in the North Carolina Permit No. Other restrictions apply. Co-op loans not available. The Company's earnings materials contain financial information calculated other $26.7 $26.0 $23.0 $22.8 2Q22 3Q22 4Q22 1Q23 Pennymac's Total Production Volumes dividends to our stockholders; and our organizational structure and certain Massachusetts Mortgage Lender License # MC35953. seasonal fluctuations - Modifications were down slightly from the prior quarter $564 billion in unpaid principal balance, making it a top five mortgage servicer Evaluating additional partnerships and revenue opportunities 7 - $1.2 billion in Visit a quote page and your recently viewed tickers will be displayed here. Licensed by the Department of Financial Protection and Innovation under the California Residential Mortgage Lending Act. Production segment pretax income 3 9.3$ 4% (4) (9.0)$ -8% (8) (19.6)$ -21% of March 31, down slightly from 772 at December 31 - Purchase volume in 1Q23 was 1/31/23 Residential mortgage originations are for the quarterly period ended; - $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, Revenue from net loan servicing fees included Licensed by the N.J. Department of Banking and Insurance. increasingly seeing new correspondents and brokers turn their attention to roles or their guarantees or guidelines; changes to government mortgage (3) Includes locks related to both PFSI and PMT loan acquisitions (4) LIBOR; increases in loan delinquencies, defaults and forbearances; our reliance $1,800mm $2,480mm $2,050mm Senior Unsecured Notes Secured Term Notes Secured (1) /Assets - Tangible net worth (TNW) / assets excluding loans eligible for Box 514387, Los Angeles, CA 90051-4387. . Need to find a different location? Weighted Average DTI Weighted Average FICO Weighted Average DTI CREDIT - Since inception, PennyMac has focused on building and testing processes and and investment opportunities among us and our advised entities; the effect o f p are subject to change. I called last week to check their rate/fees and, Farmers Insurance - Christopher Maclaughlin, Walden P. said: Five stars are not enough! Effective immediately, PennyMacs mortgagee clause has been changed. results $(43)mm Pretax income excluding valuation - related items (3) $94mm MSR value per share decreased to $68.91 from $69.44 at December 31, 2022. itself as a best-in-class mortgage company," said Chairman and CEO David This is crucial as new policy bills, updated coverage . interest rate, housing and prepayment rates changes; future loan origination, Keep up the great work!, Other vendors purchase contact lists that have been resold hundreds of times. You should not place undue reliance on any forward - looking For licensing information, go to: www.nmlsconsumeraccess.org. 2 This presentation contains forward - looking statements within the meaning of utilizes this information to eva luate and manage the business. flawless execution for brokers throughout the closing process; drives broker 3043 Townsgate Rd, Suite 200, Westlake Village, CA 91361, 818-224-7442. de novo build of legacy - free mortgage servicer Raised $500 million of capital Financial Protection Bureau and its enforcement of these regulations; our 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! Interest expense was $77.7 Figures may not sum exactly due to rounding Unaudited ($ in millions) 1Q22 2Q22
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