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Roles that David Spector holds in companies, The most profitable trade made by David Spector, List of latest transactions for each holding click on a transaction to see David Spector's performance on stock. Share Your Design Ideas, New JerseysMurphy Defends $10 Billion Rainy Day Fund as States Economy Slows, What Led to Europes Deadliest Train Crash in a Decade, This Week in Crypto: Ukraine War, Marathon Digital, FTX, Chairman/CEO, Pennymac Mortgage Investment. Thank you. 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. We estimate we are now represent approximately 2.5% market share in the channel with over 2,000 brokers approved to offer our products, an increase of 11% from March 31, 2021. Net assets under management totaled $2.3 billion as of June 30, down slightly from March 31 and up 5% from June 30, 2020. PennyMac Financial Services Inc provides mortgage loans to customers in the United States. And, we continue to enhance our MAC portal, thus improving the ability for borrowers to self-service throughout the entire origination process. What is the percentage of profitable transactions made by David Spector? Stanford Kurland. Meet our Smart Portfolio. PennyMac. For servicing on your existing mortgage account with Pennymac. 3043 Townsgate Rd Ste 200, Westlake Village, CA 91361-3027. No P&I advances are outstanding as prepayment activity continued to sufficiently cover remittance obligations. I am Barclays' consumer finance analyst, Mark DeVries. And finally, PMT, the investment vehicle that PFSI manages was able to largely preserve its book value in 2020 which led to solid results in PFSIs Investment Management segment. Actual performance may differ significantly from backtested performance. The stock was sold at an average price of $60.64, for a total value of $1,586,888.16. As of the end of the year we have helped, or are in the process of helping, approximately 145,000 borrowers successfully emerge from their forbearance plans. 130 Westlake Village, CA, 91362 Get Directions. January 25, 2021, 12:31 p.m. EST 1 Min Read. The shares were sold at an average price of $60.64, for a total value of $1,586,888.16. Chart Data in Insider Trading History Table. The return on the trade was 60.70%. The barriers to entry for these businesses that require scale for success provide PFSI a strategic advantage over our competitors. We have used our cloud-based technology systems to aid in scaling our businesses to the market and supported that growth with strategic hiring of employees. Our direct lending channels have an outsized impact on production segment earnings, as Dan will discuss later. Some products may not be available in all states. State of Wyoming now owns 5,512 shares of the real estate investment trusts stock worth $312,000 after purchasing an additional 469 shares during the last quarter. Warning! Net income in the fourth quarter was the second highest in the history of. Learn More on PennyMac Financial Services' active insiders. 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. These technology investments are critical drivers to the growth of our direct lending businesses. While such a market would be smaller than 2020, it would represent a large origination market by historical standards. Our costs vary by channel, ranging from approximately 15 basis points in correspondent to 150 basis points in consumer direct. 2 job at Countrywide Financial to founding the pair of publicly traded companies known as PennyMac, has died at 68. GuruFocus has detected 8 Warning Signs with PFSI. Download the Pennymac Mobile app from the App Store. While Stan had retired from day-to-day responsibilities at PennyMac, he remained a trusted advisor and dear friend. Mr. David Spector, CEO Mr. Andrew Chang, CFO Mr. Derek Stark, Chief Legal Officer Additional Contact Information Phone Numbers (800) 777-4001 Other Phone Email Addresses Email this. Insiders at PennyMac Financial Services own 18.0% of the company. Follow them so you never miss a recommendation. Mr. Kurland was 68. David Spectors most profitable transaction was an Informative Sell of PMT stock on March 22, 2019. I will review each segments results and then we will touch on our forbearance and servicing advance trends. Net assets under management were down slightly quarter-over-quarter to $2.3 billion. Im proud of the actions we have taken and the dedicated management team across the company that has helped put these plans into action. While many of these employees aided in our record production growth and increased servicing activities due to COVID, these hires were consistent with PFSIs long-term strategy. The stock was sold at an average price of $60.80, for a total value of $912,000.00. Now I'd like to begin by introducing David Spector, PennyMac Financial's Chairman and Chief Executive Officer, who will review the company's second quarter 2021 results. 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. Revenue per fallout-adjusted lock was 343 basis points in the quarter, a decrease from the first quarter. And with that, I would like to turn it back to David for some closing remarks. Up to 5 If you have an ad-blocker enabled you may be blocked from proceeding. As you can see in greater detail on slide 21, EBO loan-related revenue increased significantly to $233.3 million as a result of continued loss mitigation activity with borrowers emerging from forbearance while related expenses were modest as most of the loans bought out returned to performing status immediately. Enter your email address below to get our daily insider buying and selling report. David Spector latest transaction was an Uninformative Buy of . While our employee base grew by 60% during the year, our production volumes grew by 67% and our earnings increased by 328%. The company has a market cap of $3.09 billion, a price-to-earnings ratio of 7.36 and a beta of 1.49. During 2020 we added over 2,000 employees to the PennyMac team to expand our workforce to more than 6,000. And finally, PFSIs Board of Directors approved an increase to its stock repurchase authorization from $500 million to $1 billion of outstanding common stock. The committed pipeline at January 31 was $3 billion. Finally, Maverick Capital Ltd. raised its position in shares of PennyMac Financial Services by 33.5% during the 4th quarter. David served as President and Chief Investment Officer and President and Chief Operating Officer for PennyMac. View detailed PFSI description & address. We believe we will continue to increase their respective market positions as we execute on our growth initiatives in each channel. See what top analysts say about your stocks. The corporate mailing address for Mr. Spector and other PennyMac Financial Services executives is 3043 TOWNSGATE ROAD, WESTLAKE VILLAGE CA, 91361. For any questions, please visit our website at ir.pennymacfinancial.com, or call our Investor Relations department at 8182644907. Copyright 2023 Surperformance. All rights reserved. Good afternoon, and welcome to the Fourth Quarter and Full-Year 2020 Earnings discussion for PennyMac Financial Services, Inc. David Spector, Chairman & CEO, Director at PennyMac Mortgage, holds 259.60K shares in PennyMac Mortgage (Ticker: PMT), holds 1.10M shares in PennyMac Financial (Ticker: PFSI). Hedge funds and other institutional investors have recently modified their holdings of the stock. PennyMac. And we ended the quarter with a servicing portfolio of $473 billion in unpaid principal balance, approximately 4% of all residential mortgage debt in the United States. View David Spector's email address (d*****@pennym***.com) and phone number. Please note all regulatory considerations regarding the presentation of fees must be taken into account. PennyMac Financial Services, Inc. (NYSE:NYSE:PFSI) Q4 2020 Earnings Conference Call February 4, 2021 4:30 PM ETCompany ParticipantsIsaac Garden - Vice President Investor RelationsDavid. Information on this page was last updated on 3/1/2023. State of Wyoming raised its position in shares of PennyMac Financial Services by 9.3% during the 4th quarter. PennyMac Loan Services, LLC PO Box 950002 Fort Worth, TX 76155-9802, PennyMac Loan Services, LLC PO Box 5133 Thousand Oaks, CA 91359-5133, 3043 Townsgate Rd, Suite 200 Westlake Village, CA 91361 818.224.7442. Good afternoon and welcome to the Second Quarter 2021 Earnings Discussion for PennyMac Financial Services, Inc. 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. Fourth quarter performance was very strong across loan production and servicing and we continue to see the strength of our balanced business model in our results. What is the average return per transaction made by David Spector? PennyMac Financial Services' insider roster includes Anne Mccallion (Director), Farhad Nanji (Director), and David Spector (CEO). Operating revenue decreased $2 million from the prior quarter driven by declines in earnings on custodial balances. #PennymacCaresVisit PENNYMAC.COM for details about how were assisting our family of customers during the COVID-19 crisis. Minnesota: This is not an offer to enter into an agreement and an offer may only be made pursuant to Minn. Stat. You can see the results of our hedging strategy in the full year view on slide 19. Advances are expected to continue increasing over the next 6 to 12 months. 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 If so, please call us at 866.545.9070. The return on the trade was 60.70%. PennyMac Financial Servicess payout ratio is 9.54%. Learn More on David A. Spector's trading history. The direct lending channels continued to have an outsized impact on PFSIs production earnings in the fourth quarter. The committed pipeline at July 31 was $7.2 billion. PFSI's Investment Management segment delivered increased profitability as a result of incentive fees earned based on PMT's profitability over the last 4 quarters. No representations and warranties are made as to the reasonableness of the assumptions. These businesses provide PFSI a stable foundation through their low cost structures while our scaled fulfillment operation enables more aggressive growth in our higher margin direct lending channels. Posted by Defense World Staff on Mar 3rd, 2023. This balanced business helps generate strong results across a variety of market and rate environments. The firm engages in the production and servicing of U.S. residential mortgage loans. For more information, review Pennymac's state licenses and important notices. While margins across channels have come in lower from the third quarter, we saw the shift in Government correspondent margins come in the most towards more normalized levels. 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. 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. The company was founded by Stanford L. Kurland on July 2, 2008 and is headquartered in Westlake Village, CA. David is based out of Agoura Hills, California, United States and works in the Financial Services industry. This chart shows David Spector's buying and selling at PennyMac Financial Services by year and by quarter. Thank you, Isaac. Before I turn this over to Andy, I want to take a moment to say all of us at PennyMac are very grateful for the many kind thoughts and tributes we have received since announcing the sad passing of Stan Kurland, our founder and Chairman. Purchase lock volume for the quarter was also a record $744 million, up from $514 million in the prior quarter and $505 million in the second quarter of 2020. Please. In his role as President of PennyMac Financial, Mr. Jones is responsible for all business activities relating to the company's loan production and servicing . This expertise and experience has served us well, enhancing our ability to help many borrowers affected by the COVID-19 pandemic. The firm engages in the production and servicing of U.S. residential mortgage loans. As David mentioned earlier, PFSI's net income was $204.2 million or diluted earnings per share of $2.94. the financials in more detail later on in this discussion. On Monday, February 27th, David Spector sold 15,000 shares of PennyMac Financial Services stock. The dividend yield of PennyMac Financial Services Inc stocks is 0.93%. Learn More on PennyMac Financial Services' active insiders. At PennyMac, our commitment to our customers doesnt end at closing. Before we begin, let me remind you that our discussion contains forward-looking statements that are subject to risks identified on slide two that could cause our actual results to differ materially as well as non-GAAP measures that have been reconciled to their GAAP equivalent in our earnings presentation. PennyMac Financial Services, Inc operates as a holding company. What is David Spector's role in PennyMac Mortgage? Finally, broker direct originations totaled $4.5 billion in UPB in the fourth quarter, up 28% from the prior quarter and 215% percent from the fourth quarter of 2019. On Monday, December 12th, David Spector sold 12,750 shares of PennyMac Financial Services stock. As our production mix continues to shift towards direct lending, production expenses as a percentage of fallout adjusted locks are expected to trend higher. Thank you Isaac. This hiring mostly occurred in three key areas, servicing, direct lending and fulfillment services. 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. Receive News & Ratings for PennyMac Financial Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PennyMac Financial Services and related companies with MarketBeat.com's FREE daily email newsletter. 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. 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. Now Ill turn it over to Doug Jones, PFSIs Senior Managing Director and Chief Mortgage Banking Officer to provide you some more details on our mortgage banking businesses. As we outlined in our Investor Day, we see additional opportunities resulting from changes to the GSE's preferred stock purchase agreement. The history of PennyMac Financial was borne out of the Great Financial Crisis, with a desire to help distressed borrowers. And the committed pipeline at July 31 was $1.9 billion. PennyMac Financial Services Inc., a national mortgage lender and servicer, announced Thursday that Doug Jones has joined its board of directors. Earnings per share grew 328% for the year with net income up 319%. 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%. Having difficulty making payments? And as our production mix continues to shift toward direct lending, production expenses as a percentage of fallout-adjusted locks are expected to trend higher. Our consumer direct lending division produced record origination and lock volumes again despite a smaller origination market in the second quarter. Learn More on David A. Spector's trading history. Tower Research Capital LLC TRC Increases Stake in Centrus Energy Corp. Tower Research Capital LLC TRC Boosts Stock Position in Centrus Energy Corp. UBS Group AG Increases Position in Northern Oil and Gas, Inc. Tower Research Capital LLC TRC Increases Position in ABB Ltd (NYSE:ABB), Tower Research Capital LLC TRC Has $254,000 Holdings in Daqo New Energy Corp. (NYSE:DQ), ABB Ltd (NYSE:ABB) Shares Bought by Tower Research Capital LLC TRC, Tower Research Capital LLC TRC Increases Stake in Centrus Energy Corp. (NYSEAMERICAN:LEU), Tower Research Capital LLC TRC Boosts Stock Position in Centrus Energy Corp. (NYSEAMERICAN:LEU), UBS Group AG Increases Position in Northern Oil and Gas, Inc. (NYSE:NOG), Tower Research Capital LLC TRC Sells 3,797 Shares of Daqo New Energy Corp. (NYSE:DQ), Tower Research Capital LLC TRC Lowers Stake in Invesco Defensive Equity ETF (NYSEARCA:DEF), Tower Research Capital LLC TRC Acquires 94,572 Shares of Geron Co. (NASDAQ:GERN), Tower Research Capital LLC TRC Has $255,000 Stake in Geron Co. (NASDAQ:GERN), Gentherm Incorporated (NASDAQ:THRM) Stock Position Increased by Tower Research Capital LLC TRC, Tower Research Capital LLC TRC Sells 1,356 Shares of iShares Dow Jones U.S. ETF (NYSEARCA:IYY), Tower Research Capital LLC TRC Sells 4,212 Shares of Chesapeake Utilities Co. (NYSE:CPK), Tower Research Capital LLC TRC Has $260,000 Stock Position in Veradigm Inc. (NASDAQ:MDRX), Tower Research Capital LLC TRC Sells 2,680 Shares of The Toronto-Dominion Bank (NYSE:TD), Veradigm Inc. (NASDAQ:MDRX) Shares Bought by Tower Research Capital LLC TRC, UBS Group AG Has $3.26 Million Stock Holdings in Delek Logistics Partners, LP (NYSE:DKL), Tower Research Capital LLC TRC Decreases Stake in Westamerica Bancorporation (NASDAQ:WABC), Tower Research Capital LLC TRC Grows Stock Holdings in Barnes Group Inc. (NYSE:B), Woodside Energy Group Ltd (OTCMKTS:WOPEY) Shares Sold by UBS Group AG. Our correspondent mix percentage was essentially unchanged from the previous quarter, as 35% of the acquisitions were government loans and 65% were conventional loans. Search over 700 In July, originations for our consumer direct channel totaled $3.5 billion and locks totaled $5.5 billion. PennyMac CEO David Spector to serve as chairmen of its mortgage REIT, financial services The CEO of both PennyMac companies, David Spector (pictured), has added the chairman's title, filling the vacancies created by the death of founder Stanford Kurland. Right now, we realize the importance of home like never before. We achieved record production across all channels, with increased market penetration in our higher margin direct lending channels. Get notified the next time David A. Spector buys or sells PennyMac Financial Services stock. PennyMac TPO Contact Information Principal Mr. David Spector, President/CEO Customer Contact Mr. David Spector, President/CEO Additional Contact Information Phone Numbers (702). David Spector joined PennyMac in 2008. Ready to apply or complete your application? As David mentioned earlier PFSIs net income was $452.8 million or diluted earnings per share of $5.97. Changes in these assumptions may have a material impact on the backtested returns presented. Backtested performance is not an indicator of future actual results. Servicing advances outstanding decreased to approximately $424 million at June 30 from $437 million at March 31. PennyMac Financial Services, Inc. operates as a holding company. Thank you. The price of the stock has decreased by 8.12% since. Arizona Mortgage Banker License # 0911088. And I'm pleased to be joined by PennyMac Financial Services CEO,. Good morning and thank you for joining us. The price of the stock has increased by 0.03% since. The number of approved brokers totaled 1,574, up 11% over the end of the third quarter. Pretax income excluding valuation related changes in our servicing segment in 2020 more than doubled from 2019 as we assisted borrowers emerging from forbearance using various loss mitigation strategies. And since the beginning of 2020, we have now repurchased over 18.5 million shares or approximately 24% of PFSI's common shares outstanding. We continue to originate record levels of volumes in this channel as a result of our large and growing servicing portfolio, efficient and low-cost infrastructure, advanced modeling and analytics, and the growth in sales and fulfillment capacity. Revenue per fallout adjusted lock for PFSIs own account was 217 basis points in the fourth quarter, down slightly from 236 basis points in the third quarter. 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. In our broker direct channel, we are focused on further reducing the length of our loan origination cycle via workflow enhancements and upgrades to our broker portal, POWER. This performance added to a remarkable year that saw PFSI achieve a return on equity of 62% with almost $200 billion in UPB of loans funded. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 1.46. We'll review your feedback and if you chose to be contacted, we will respond within 1-2 business days. So, from our home to yours, thank you! This information is provided for illustrative purposes only. Strong production volumes across all 3 channels continue to drive the growth of our servicing portfolio despite the elevated level of prepayments. Find the best performing Analyst in each sector. 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. These strong production volumes again led to servicing portfolio growth despite continued elevated prepayment activity. DO NOT SEND PAYMENTS TO THIS ADDRESS. Are you interested in helping the next generation of homeowners fulfill their dream of home? Pennymac's state licenses and important notices. The ex-dividend date was Monday, February 13th. Presenter SpeechMark DeVries Hello. 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. Texas office: 2201 W. Plano Parkway, Suites 150 and 300, Plano, TX 75075. Colorado office: 5500 South Quebec Street, Suite 260 Greenwood Village, CO 80111, (877) 215-2552. Dan Perotti, PFSI's Senior Managing Director and Chief Financial Officer, will discuss our financial performance in more detail later on in his discussion. Learn More about David A. Spector's net worth. President & CEO David Spector sold 30,000 shares of PFSI stock on 01/12/2021 at the average price of $57.43. PennyMac Financial Services, Inc. a annonc que Doug Jones, prsident et directeur des services hypothcaires, a rejoint son conseil d'administration compter du 1er mars 2023. In January, our correspondent acquisitions remained strong, with $17.9 billion in UPB of acquisitions and lock volume of $17.8 billion. What is David Spector's role in PennyMac Mortgage? Susquehanna Fundamental Investments LLC raised its position in shares of PennyMac Financial Services by 24.8% during the 4th quarter. David A. Spector is also on the board of 7 other companies. Lastly, we encourage investors with any questions to reach out to our Investor Relations team by email or phone. His family and PennyMac, which announced his passing, said he died from complications . As you can see on slide 11, approximately $37 billion of portfolio runoff in the second quarter was more than offset by the addition of $61 billion in total production. 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. The average return per transaction made by David Spector is 3.50%. (03-2023). Thanks, Doug. For the total servicing portfolio, we facilitated approximately 291,000 forbearance plans for our customers, with over 90% of those enrolled through our automated channels. The servicing segment recorded pretax income of $30.9 million, down from pretax income of $141.7 million in the prior quarter and up from a pretax loss of $62.4 million in the second quarter of 2020. (business & personal). 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. Thank you, Dan. David Spector is currently Chairman of the Board, President and Chief Executive Officer at PennyMac - View - PennyMac org chart Rhode Island Licensed Lender # 20092600LL, Loan Broker, and Third Party Loan Servicer. How do I contact David A. Spector? With that, I will turn the call over to Andy Chang, Senior Managing Director and Chief Operating Officer, who will go through some of the initiatives we are focused on to position us for future success in the years to come. The corporate mailing address for Mr. Spector and other PennyMac Financial Services executives is 3043 TOWNSGATE ROAD, WESTLAKE VILLAGE CA, 91361. In January, our consumer direct originations totaled $3.1 billion in UPB and locks totaled $4.4 billion. This financial performance is driven by the balanced business model in mortgage banking that we have built over the last 13 years. 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. Lastly, our broker direct channel continued its impressive growth in both locked and funded volumes as we increase the number of approved brokers and our presence in the channel grows. Please take a moment to watch a special video from our President and CEO, David Spector. 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. 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 . Dan Perotti , PFSIs Senior Managing Director and Chief Financial Officer will discuss the financials in more detail later on in this discussion. {{ userNotificationState.getAlertCount('bell') }}. This website may include combined information from PennyMac Financial Services, Inc. ("PFSI") and PennyMac Mortgage Investment Trust ("PMT") collectively Pennymac. PennyMac Financial Services Inc had annual average EBITDA growth of 35.90% over the past five years. Following the transaction, the chief executive officer now directly owns 650,183 shares in the company, valued at approximately $39,427,097.12.

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