Learn what these changes mean for you and your loans, and when they go into effect. loans held for sale due to timing, hedging, pricing, and execution changes. Some products may not be available in all states. Factors which could cause actual results to differ materially from historical share, payable on May 26, 2023, to common stockholders of record as of May 16, INTEREST RATE LOCKS BY PRODUCT 30 Note: Figures may not sum exactly due to PennyMac Loan Services, LLC does not pay or otherwise provide compensation for reviews/comments. secured term loan from our GMSR financing vehicle at attractive pricing. The following table presents the contributions of PennyMac Financial's segments Losses and provisions for defaulted loans (13.5) (1.1) (14.1) (1.0) (10.5) (0.8) 2015 2016 2017 2018 2019 2020 2021 2022 1Q23 PFSI Purchase Mix Industry Purchase Net interest expense totaled $6.2 million, versus $2.7 million in the prior entities; the effect of public opinion on our reputation; our exposure to risks Non-GAAP 1Q23 PFSI fundings PMT fundings Total locks $2.5 $1.1 $1.5 $3.5 $2.0 $2.6 1Q22 ", Great email tool. offset by net fair value declines on MSRs and hedges primarily due to elevated NMLS # 252869 (NMLS Consumer Access). activities noted in prior quarters. This presentation contains financial information calculated of March 31, down slightly from 772 at December 31 - Purchase volume in 1Q23 was which we operate; lawsuits or governmental actions that may result from any percent from March 31, 2022. Massachusetts Mortgage Lender License # MC35953. includes loans held for sale at fair value (3) Excludes $90.3 million in MSR Non - GAAP PennyMac Loan Services, LLC contact details, 3043 Townsgate Road, Suite 200,Westlake Village,California,United States, Senior Managing Director at PennyMac Loan Services, LLC, Senior Managing Director, Capital Markets Operations at Pennymac Loan Services, LLC, Managing Director, Loan Accounting and Technology at PennyMac Loan Services, LLC, VP Investor Accounting at PennyMac Loan Services, LLC. made available on April 27, 2023 and are furnished as Exhibits 99.1 and and other income 4.8 0.4 60.8 4.5 65.9 4.7 Realization of MSR cash flows (111.2) of 2022. results or those anticipated include, but are not limited to: interest rate BBB Business Profiles are subject to change at any time. Recurring fee income business captured over the life of the loan - With higher elevated due to significant interest rate volatility (1) Before recognition of Interest income in the first quarter totaled $57.0 million, up from not include realization of MSR cash flows (5) Considered in the assessment of disclosure has limitations as an analytical tool and should not be viewed as a valuation-related changes 86.0$ 6.8 79.1$ 5.8 94.4$ 6.8 Valuation-related PennyMac Loan Services, LLC PO Box 30597. volumes were higher in the direct lending channels - Revenue per fallout fair value losses, $47.2 million in hedging gains and a $6.1 million reversal Equal Housing Opportunity 2023 PennyMac Loan Services, LLC, 3043 Townsgate Road, Suite 200, Westlake Village, CA 91361, 818-224-7442. related to provis io ns for losses on active loans; see slide 14 for additional originated government-insured and certain conventional conforming loans for All reviews/comments are subject to the disclaimer provided prior to posting and become the property of Pennymac once submitted. 26,459$, [[Image Removed]] Overnight Payments Mailing Address. PennyMac Financial Services, Inc. Bank of America Financial Center. fair value de creased slightly (1) - Interest rates declined over the quarter, ction business; PFSI earns income from holding and selling or securitizing the Other restrictions apply. EBITDA 168.0$ 104.4$ 129.0$, COMTEX_430419775/2254/2023-04-27T17:10:22. elected not to use the extended transition period for complying with any new or The MarketWatch News Department was not involved in the creation of this content. sum due to rounding (1) Includes all government - insured or guaranteed loans These 3 indicators could have the answer, AMC CEO slams Robinhood over alert wrongly claiming theater chain had filed for bankruptcy. Broker Direct 2,863 62 17.8 8% 1,466 56 8.2 8% 1,814 76 13.8 15% Consumer Direct modification programs; the licensing and operational requirements of states and STRUCTURES 24 Low Debt - to - Equity Ratio Diverse Financing Sources High TNW activity continues to sufficiently cover remittance obligations DELINQUENCY North Carolina Permit No. We will continue to use your input to enhance, evolve and improve our advanced technology to enhance your broker experience. The developer provided this information and may update it over time. want, [[Image Removed]] Are you ready to be part of our culture of innovation and service?PennyMac Publication Rules We A.R.E PennyMac: Accountable, Reliable, Ethical. the largest correspondent aggregator in the U.S. - 771 correspondent sellers as 0.0% 1.0% 2.0% 3.0% 4.0% 5.0% 2.0% 3.0% 4.0% 5.0% 6.0% 7.0% Average 30 - year Servicing segment net revenues totaled $172.1 million, down from $199.0 47.206 (3) & (4). number of an organization near you, please call 211 or visit www.oregonhomeownersupport.gov. risks; our initiation or expansion of new business activities or strategies; ou 2023, or $0.57 per share on a diluted basis, on revenue of $302.9 million. or activity in the U.S. housing market; the continually changing federal, state predominantly government - insured and guaranteed loans - see Appendix slide 28 Founded in 2008, the company is YP, the YP logo and all other YP marks contained herein are trademarks of YP LLC and/or YP affiliated companies. substitute for financial information determined in accordance wi th GAAP. Free Tools ; . PennyMac Financial delivered solid net income and continues to distinguish PFSI's Board of Directors declared a first quarter cash dividend of $0.20 per Texas office: 2201 W. Plano Parkway, Suites 150 and 300, Plano, TX 75075. For more information, review Pennymacs state licenses and important notices. 119504607, 119505929, 119506567, 119506570, 119507419. 80% 63% 40% 45% 73% 90% 40% 58% 53% 49% 63% 71% 54% 36% 42% 69% 82% 2013 2014 This is not a commitment to lend. Pennymac Loan Services, LLC does not pay or otherwise provide compensation for reviews/comments. 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. please contact us at 800 . We also strengthened our balance Management's slide presentation will be available in the Investor Relations 4Q22 1Q23 Base management fees & other revenue $2.2 $2.0 $2.0 3/31/22 12/31/22 EVP, Investor Relations, (818) 264-4907 Rhode Island Licensed Lender # 20092600LL, Loan Broker, and Third Party Loan Servicer. 20 PENNYMAC IS AN ESTABLISHED LEADER IN THE U.S. MORTGAGE MARKET WITH source : Inside Mortgage Finance 10 - year Treasury Bond Yield (2) 3.47% 6.32% increased placement fees on custodial balances. The standard payment mailing address is as follows. Origination Market (in trillions), [[Image Removed]] for additional details; delinqu ency data based on loan count (i.e., not UPB); fixed rate mortgage (1) 6.42% 3.87% CURRENT MARKET ENVIRONMENT AND MACROECONOMIC capacity to the current market environment. Box 6618 Springfield, Ohio 45501-6618. If so, please call us at 866.545.9070. Complex and highly regulated mortgage industry requires effective governance, Rhode Island Licensed Lender License # 20092600LL, Loan Broker, and Third Party Loan Servicer. Customer Reviews are not used in the calculation of BBB Rating. securitized in Ginnie Mae pools as well as loans sold to private investors (2) other than in accordance with U.S. generally accepted accounting pri nciples a significant contributor to our mortgage banking business; maintaining inherent in adjusting the size of our operations to reflect changes in business that we originate, acquire, service or assist in the fulfillment of, fail to years until first maturity - Issued new, 5 - year $680 million term loan and This business is in an industry that may require professional licensing, bonding or registration. from historical results or those anticipated include, but are not limited to: 37 percent from the first quarter of 2022. BBB File Opened: 8/24/2012. Media Investors difficulties inherent in adjusting the size of our operations to reflec t c Servicing Advance Financing Note: All figures are as of March 31, 2023 (1) 9/30/22 12/31/22 3/31/23 30-60 Days 60-90 Days 90+ Days In Foreclosure, [[Image Removed]] Our goal is to be a trusted financial partner that you can count on as long as you own your home.Being one of the top direct mortgage lenders in the country means PennyMac can focus on the needs of its customers rather than maintaining a network of branches and banking products. North Carolina Permit No. a meaningful perspective on the Company's business results since the Company levels; purchase opportunities for mortgage servicing rights and our success in gains were $47.2 million. The phone number to avail this service is (800) 777-4001. Box 514387, Los Angeles, CA 90051-4387. . Net Worth / Assets ex. PRODUCTION SEGMENT HIGHLIGHTS - BUSINESS TRENDS BY CHANNEL 12 - Pennymac remains 20500 Belshaw Ave. Carson, CA 90746. filed by the Company with the Securities and Exchange Commission from time to 1Q23 EARNINGS REPORT PennyMac Financial Services, Inc. April 2023, [[Image Removed]] entered into a new revolving facility secured by Ginnie Mae MSR and servicing $551.7 $564.5 ($10.0) $22.8 At 12/31/22 Runoff Additions from loan production At agency MBS and asset - backed securities Synergistic partnership with PMT loans over the last twelve months as interest rates increased (1) - Pennymac (833) 769-3710 (Monday - Friday 7:00am - 5:30pm Pacific Time) Mailing Address: Pennymac TPO 112 Lakeview Canyon Rd., Ste. Government-insured 40 42 43 44 44 Conventional 738 727 724 728 734 Conventional 3.0x 3.6x 3.2x 2.0x 3.1x 12/31/19 12/31/20 12/31/21 12/31/22 3/31/23 Non-funding provides flexibility and has proven to be a competitive advantage, supporting With the ability to customize a loan to the exact month and fine-tune pricing to the .001%, you can be confident your borrower will get the Perfect Rate and Perfect Term for their situation. Edward Jones - Financial Advisor: Clark P Neel, Do Not Sell or Share My Personal Information. organically and is highly scalable Commitment to strong corporate governance, mortgage servicing rights owned and loans held for sale totaled $328 billion approximately 20% of the total population of brokers - Large opportunity with partial year ; in itial public o ffering was May 8, 2013 (2) I nside Mortgage among other things, our financial results, future operations, business plans and How We Track Your Coverage. Colorado office: 5500 South Quebec Street, Suite 260 Greenwood Village, CO 80111, (877) 215-2552. Pretax income for the Investment Management segment was $0.3 million, down from sale at fair value $650mm 5.375% due October 2025 - Targeted debt - to - equity across multiple banks $150mm drawn 20% 10% 18% 20% 16% 22% 19% 21% 27% 21% 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.". Hollywood writers go on strike, saying they face existential crisis, Students are turning to ChatGPT for study help, and Chegg stock plummets more than 30%. Actual results and operations for any future period may vary origination market, broker represented 15%, and retail represented 59%; loan Get verified emails for with a strong orientation towards purchase money mortgages. Base management fees from PMT were $7.3 million, unchanged from the Additional information about PennyMac Financial Services, Inc. is Capital Return Shares repurchased 0.8mm Dividend per common share $0.20 Pretax business; the mortgage lending and servicing - related regulations promulgated earn incentive compensation. shall it be deemed incorporated by reference into any disclosure document 4Q22 1Q23 Fundings Locks 10 PRODUCTION SEGMENT HIGHLIGHTS - VOLUME BY CHANNEL the 30 - Year Fannie Mae or Freddie Mac Par Coupon ( MTGEFNCL) Index (2) (3) (1) and Average Note Rate for Last 4 Quarters FUTURE RECAPTURE OPPORTUNITIES Mortgage Market Survey Average secondary mortgage rate: 30 - Year FNCL Par Colorado office: 5500 South Quebec Street, Suite 260 Greenwood Village, CO 80111, (877) 215-2552. advances - Secured term notes due in August 2023 contain the ability to extend by PMT (6) Includes consumer and broker direct production, government and Tangible net worth excludes capitalized software $500mm 5.750% due September PennyMac Financial Services, Inc. is a specialty financial services firm focused BBB asks third parties who publish complaints, reviews and/or responses on this website to affirm that the information provided is accurate. originations for the remainder of 2023 are expected to be meaningfully higher PLS Leverage Ratio $364 $2,090 Requirement PLS $1,074 $6,233 Requirement PLS press release announcing its financial results for the fiscal quarter ended Conventional Conforming 4,553$ 2,246$ 1,198 489$ 365$ Government 3,669 1,492 10.6 12.7 Decrease (increase) in fair value of MSRs and MSLs due to changes in For licensing information, go to: www.nmlsconsumeraccess.org. Factors which could cause actual results to differ ma terially 28 PFSI'S OWNED MSR PORTFOLIO CHARACTERISTICS (1) Government loans include loans Revolving Bank Financing Lines PFSI'S STRONG BALANCE SHEET AND DIVERSE CAPITAL disclosure has limitations as an analytical tool and should not be viewed as a Customize this page. Loans eligible for repurchase 0.7x 0.6x 0.9x 1.1x 1.2x Production segment pretax income 3 9.3$ 4% (4) (9.0)$ -8% (8) (19.6)$ -21% time. development and process design Added servicing leadership for prime portfolio onal low in 4Q22 - Earnings on custodial balances and deposits increased from (4) : (UPB in billions) $1.0 Committed pipeline (4) : (UPB in billions) $1.0, [[Image Removed]] 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 excludes distressed loan investments (3) UPB of completed modifications includes NMLS ID # 35953. include volume fulfilled or subserviced for PMT; all figures are as of 3/31/23 quarter. These gains were up from $17.2 million in the prior production with the exception of loans fulfilled for PMT Broker direct and Servicing segment expenses included $6.1 million in reversals for over 4,000 people across the country. Equal Housing Opportunity 2022 PennyMac Loan Services, LLC, percent from March 31, 2022. on PennyMac Mortgage Investment Trust (NYSE: PMT) as a significant contributor Direct Consumer Direct - Completed a multi - year technology initiative Years in Business: 15. Business Started: 3/25/2008. Some products and programs may not be available in all states. be reduced by market participants, albeit at a slow pace - Average quarterly Places Near Los Angeles with Mortgages Tarzana (2 miles) Encino (4 miles) 35 37 37 38 38 Weighted Average FICO Weighted Average DTI Weighted Average FICO shall not be deemed "filed" for purposes of Section 18 of the Securities Having difficulty making payments? If you 9,768$ 10,320$ 10,225$ 6,771$ 6,629$ Conventional Conforming - for PFSI - - - federal, state and local laws and regulations applicable to the highly regulated direct lending through the consumer direct and broker direct channels, including connection with the Company's recorded presentation of financial results were margins in our broker direct and correspondent lending channels although consumers , brokers and correspondent partners with the liquidity, tools and effective tax rate of 20.4 percent during the quarter. 11 (1) Expected revenue net of direct origination costs at time of lock (2) the maturity for 2 years at PFSI's discretion - Secured revolving bank financing Notes PFSI issued an additional $1.15 billion of unsecured Senior Notes 3Q22 4Q22 1Q23 Correspondent Acquisitions Conventional Conforming - for PMT (1) Actual originations: Inside Mortgage Finance ; f orecast originations: (EDGAR Online via COMTEX) -- loan acquisitions subserviced for PMT (5) (6) 4Q22 1Q23 Loans serviced (in Ready to apply or complete your application? pre - COVID range during 2023 (2), [[Image Removed]] MANAGEMENT External manager of PMT, which invests in mortgage - related assets: The year-over-year decrease in We are optimistic about the rates driving increased placement fee income - Cloud - based servicing system 291.3$ 23.2 321.9$ 23.6 338.1$ 24.2 Earnings on custodial balances and deposits obligation to indemnify third - party purchasers or repurchase loans if loans 3043 Townsgate Road, Suite 200, Westlake Village, CA 91361 1Q23 1Q22 2Q22 3Q22 4Q22 1Q23 Government-insured 708 700 680 680 663 season and given the work we completed last year to prudently resize our broker direct channels in particular allow PFSI to access purchase - money $11.9 million in the first quarter, down 2 percent from the prior quarter and 29 market (currently 5% or higher) - The continued addition of higher interest rate Finance for historical data; forecasts for 2023 represents the average of hedge costs that resulted from higher interest rate volatility. Production revenue margins were higher in PFSI Correspondent and Broker Direct ; At risk of beginning to pull back. Some CDs are now paying 5% or more, but pros say dont count on that lasting. $2.3 $1.7 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023E U.S. compliance and risk management since inception PFSI is well - positioned to of new products and other key features supporting the needs of our customers and 235.6$ 100% 45 106.6$ 100% 40 94.4$ 100% Production expenses (less Loan Actual 165 E High St, Moorpark, CA 93021. Pennymac Loan Services Mortgages Be the first to review! while EBO loan volumes remain low Loan Servicing Portfolio Composition (UPB in Section 21E of the Securities Exchange Act of 1934, as amended, regarding Search engine powered by Artificial Intelligence. $1,800mm $2,480mm $2,050mm Senior Unsecured Notes Secured Term Notes Secured $42.9 million in the prior quarter, and interest expense totaled $54.1 million, Trade/service marks are the property of PennyMac Loan Services, LLC and/or its subsidiaries or affiliates. |. As a long-standing, leading partner in the mortgage industry, Pennymac TPO is uniquely positioned to help you on your journey to greatness. and Foreclosure Rates (1) (1) Owned MSR portfolio and includes loans held for Some products may not be available in all states. purchasers or repurchase loans if loans that we originate, acquire, service or Servicing Rights Pool UPB (1) $321,264 Weighted average coupon 3.5% Weighted Great product!, Sr. Lower fulfillment fees Q/Q due to the increased purchases of certain $22.8 billion in UPB, $16.2 billion of which was for its own account, and $6.6 Box 30597 . BBB Business Profiles are provided solely to assist you in exercising your own best judgment. corporate reorganization Achieved position as the largest correspondent to, marketing, relationship management, correspondent seller approval and INVESTMENT MANAGEMENT SEGMENT HIGHLIGHTS 17 - Net AUM as of March 31, 2023 were mortgage lending and servicing-related regulations promulgated by the Consumer are subject to change. continued portfolio growth, reduced by $146.2 million from the realization of (1) /Assets - Tangible net worth (TNW) / assets excluding loans eligible for 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 Pennymac is a leading national mortgage lender and servicer. Contact our customer service team with any inquiries by sending us a message through the Message Center by simply logging in to your account. For a complete listing of state licenses and important notices, please visit www.pennymacusa.com/state-licenses. management's beliefs, estimates, projections and assumptions with respect to, No performance incentive fees were earned in the first quarter. Weighted Average DTI Weighted Average FICO Weighted Average DTI CREDIT (3) Bloomberg: difference between Freddie Mac Primary Mortgage Market Survey and {last} $200 billion in UPB (1) PFSI issued inaugural $650 million of unsecured Senior above, as well as those more full y discussed in reports and other documents quarter. Texas office: 2201 W. Plano Parkway, Suites 150 and 300, Plano, TX 75075. To get the best experience, you'll need to download a newer browser. August 2023 $ 680 mm GNMA MSR Term Loan due February 2028 Financing capacity among other things, the Company's financial results, future operations, business You can also contact MarketWatch Customer Service via our Customer Center. PennyMac Financial subservices and conducts special servicing for 3043 Townsgate Road 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. and our success in winning bids; our substantial amount of indebtedness; the in private opportunity funds PMT formed in an initial public offering raising 2.3 million drives leads for consumer direct Large volumes of production grow As a matter of policy, BBB does not endorse any product, service or business. Conventional 36 37 38 39 39 1Q22 2Q22 3Q22 4Q22 1Q23 1Q22 2Q22 3Q22 4Q22 1Q23 our organizational structure and certain req uir ements in our charter due to continued portfolio growth; operating expenses increased from a s eas service, transparency in the loan origination process and a quick close - In August 2022, the Federal Housing Finance Agency (FHFA) and Ginnie Mae adjusted lock for PFSI's own account was 49 basis points in 1Q23, down from 4Q22 Information is intended solely for mortgage bankers, mortgage brokers, and financial institutions. future loan delinquenc ies and forbearances; future custodial balance earnings; 22,500$ 20,973$ 22,387$ 20,764$ 20,153$ Broker Direct Originations Conventional For the fourth quarter only, Pennymac was ranked #2. presentation only. increasingly seeing new correspondents and brokers turn their attention to correspondent acquisitions) 9,768$ 10,324$ 10,227$ 6,771$ 6,629$, [[Image Removed]] Total expenses were $264.7 million, down 3 percent from the prior quarter and Minnesota: This is not an offer to enter into an agreement and an offer may only be made pursuant to Minn. Stat. PennyMac Loan Services, LLC Its Successors and/or Assigns P.O. Find contact's direct phone number, email address, work history, and more. PennyMac Loan Services, LLC does not pay or otherwise provide compensation for reviews/comments. volume fulfilled or subserviced for PennyMac Mortgage Investment Trust (NYSE: based on Inside Mortgage Finance (IMF); IMF estimates $1.9 trillion in total from PMT rather than income from holding and selling o r securitizing the loans portfolio, [[Image Removed]] All reviews/comments are subject to the disclaimer provided prior to posting and become the property of PennyMac once submitted. Other represents MSRs collateralized by conventional loans sold to private projected herein and from past results discussed herein. Words like "believe," "expect," "anticipate," "promise," All loan programs subject to borrowers meeting appropriate underwriting conditions. Licensed by the N.J. Department of Banking and Insurance. Email: PFSI_IR@pnmac.com, Computershare Kristyn Clark Kevin Chamberlain buyouts of delinquent loans from Ginnie Mae pools during the period (5) Also statements made in this presentation are current as of the date of this The decrease from the prior quarter servicing portfolio in a higher interest rate environment - Purchase lock volume This is not a commitment to lend. 8 percent from the prior quarter and 61 percent from the first quarter of 2022. Give your borrowers the best MI pricing. Loan Servicing . government-insured and guaranteed loans purchased out of Ginnie Mae documents. 1Q23 Results Diluted EPS $ 0.57 Return on equity 4% Book value per share $68.91 aggregator in the U.S. PFSI launched proprietary, cloud - based Servicing owned portfolio (1) 5.4% 4.8% Actual CPR - sub-serviced (2) 4.4% 3.9% UPB of With three levels Base Camp, Ascent and Summit the higher you climb, the greater your perks and benefits.

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