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Net income was $453 million or diluted earnings per share of $5.97 resulting in book value growth per share of 15% to $47.80, up from $41.67 at the end of the prior quarter. Posted by Defense World Staff on Mar 3rd, 2023. PennyMac. Learn More about David A. Spector's net worth. The firm engages in the production and servicing of U.S. residential mortgage loans. Our balanced business model continues to deliver consistent profitability and value creation as it has done over the last seven years as a public company. PennyMac Financial Services, Inc. (PFSI) CEO David Spector on Q4 2020 Government correspondent locks were $15.7 billion, down 8% from the prior quarter and up 21% from the second quarter of 2020. 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. Get contact details including emails and phone numbers What is the average return per transaction made by David Spector? Net assets under management totaled $2.3 billion as of December 31, up 1% from September 30. Stanford Kurland. The stock was sold at an average price of $60.80, for a total value of $912,000.00. 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 a share. Economic forecasts are calling for the mortgage origination market to remain strong in 2021, and while these forecasts vary, they currently average $3.3 trillion. We believe this represents approximately 13% of the total brokers and non-delegated sellers active in the market today, providing continued room for growth and expansion within the channel in the future. Ultimately, we believe for these reasons, PennyMac will continue its market share growth as a channel leader. If you have additional questions or would like to speak with a Pennymac representative, please call (800) 777-4001. 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 . Get a breakdown of the different strategies based on detected insider trading activity. PennyMac Financial Services, Inc. operates as a holding company. Conventional correspondent acquisitions, for which PFSI earns a fulfillment fee from PMT, totaled $30.5 billion, down 10% from the prior quarter and up 61% from the second quarter of 2020. While the Pennymac workforce stays. Massachusetts Mortgage Lender License # MC35953. 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. Learn More on PennyMac Financial Services' active insiders. Our large production volumes fuel the organic growth of our servicing portfolio, leading to a larger recurring stream of earnings. Pennymac Reviews in Los Angeles, CA | Glassdoor