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. 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. What is the percentage of profitable transactions made by David Spector? Sign up for a free account. These returns have led to a 29% compounded annual growth rate in our book value per share since our IPO. Similarly, lock volume totaled $4.5 billion, down 21%. These strong production volumes again led to servicing portfolio growth despite continued elevated prepayment activity. North Carolina Permit No. As our production mix continues to shift towards direct lending, production expenses as a percentage of fallout adjusted locks are expected to trend higher. David A. Spector is also on the board of 7 other companies. The stock was sold at an average price of $60.64, for a total value of $1,586,888.16. This net worth estimate does not reflect any other assets that Mr. Spector may own. This concludes PennyMac Financial Services, Inc.s fourth quarter earnings discussion. 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. On Wednesday, March 1st, David Spector sold 26,169 shares of 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). Over the years, PennyMac Financial has proven its ability to generate profits and value across various market environments, resulting in attractive returns on equity, with an average ROE of 24% over our last 7 plus years as a public company. Ultimately, we believe for these reasons, PennyMac will continue its market share growth as a channel leader. 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. | 3 Mrz 2023. Colorado office: 5500 South Quebec Street, Suite 260 Greenwood Village, CO 80111, (877) 215-2552. Following the transaction, the chief executive officer now directly owns 650,183 shares in the company, valued at approximately $39,427,097.12. David Spector latest transaction was an Uninformative Buy of . Importantly, PennyMac retains the servicing rights and carries an option to repurchase these government-insured loans in the event they become eligible for redelivery into Ginnie Mae securities. Lastly, I would like to touch on the trends we are seeing related to forbearance and loss mitigation. Production revenue margins declined from the prior quarter and revenue per fallout-adjusted lock for PFSI's own account was 154 basis points in the second quarter, down from 176 basis points in the first quarter of 2021. 119504607, 119505929, 119506567, 119506570, 119507419. Government correspondent locks were $15.7 billion, down 8% from the prior quarter and up 21% from the second quarter of 2020. #PennymacCaresVisit PENNYMAC.COM for details about how were assisting our family of customers during the COVID-19 crisis. Net income in the fourth quarter was the second highest in the history of. They sold a total of 398,609 shares worth more than $22,789,635.48. In January, our correspondent acquisitions remained strong, with $17.9 billion in UPB of acquisitions and lock volume of $17.8 billion. million verified professionals across 35 million companies. This hedging strategy is designed to moderate the impact of interest rate changes on the fair value of our MSR asset and also considers production-related income. 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. Follow them so you never miss a recommendation. Direct lending locks were up 13% from the prior quarter, total correspondent lock volume was up 9% and the servicing portfolio was up 6% from the end of the third quarter. 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. GuruFocus has detected 8 Warning Signs with PFSI. David Spector is currently Chairman of the Board, President and Chief Executive Officer at PennyMac - View - PennyMac org chart Learn More on David A. Spector's salary. Minnesota: This is not an offer to enter into an agreement and an offer may only be made pursuant to Minn. Stat. {{ userNotificationState.getAlertCount('bell') }}. We quickly developed a plan to deal with the COVID-19 pandemic and the various work from home orders across the nation. The firm engages in the production and servicing of U.S. residential mortgage loans. Main Telephone (818) 224-7442 Primary Address 3043 Townsgate Road Suite 200 Westlake Village, CA 91361 USA Fiscal Close December Founded 2008 If youre new to trading, then youve probably heard the wrong thing about optionsthat theyre risky, unpredictable, or difficult. 3043 Townsgate Rd Ste 200, Westlake Village, CA 91361-3027. PennyMac Financial Services, Inc. (NYSE:NYSE:PFSI) Q2 2021 Earnings Conference Call August 5, 2021 5:05 PM ETCompany ParticipantsIsaac Garden - Vice President, Investor RelationsDavid. Ready to apply or complete your application? 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. Lastly, I would like to touch on the trends we are seeing related to forbearance and loss mitigation. We believe PennyMac Financial's business model with production from the correspondent, consumer direct and broker direct channels contributes to PennyMac Financial's profitability across different production environments. Pennymac Westlake Village, CA office. What is the average return per transaction made by David Spector? 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. This brings the total repurchases year-to-date to approximately $600 million. If you have an ad-blocker enabled you may be blocked from proceeding. Revenue per fallout-adjusted lock was 71 basis points, down from 140 basis points in the prior quarter. Mr. Spector owns 650,183 shares of PennyMac Financial Services stock worth more than $40,948,525 as of March 4th. Download the Pennymac Mobile app from the App Store. And with that, I would like to turn it back to David for some closing remarks. Some products may not be available in all states. PennyMac. 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. | 3 Mrz 2023. Previously, Mr. Spector served as PennyMac Financials President and Chief Operating Officer. Company profile for PennyMac Financial Services Inc. including key executives, insider trading, ownership, revenue and average growth rates. For licensing information, go to: www.nmlsconsumeraccess.org. The committed pipeline at January 31 was $3 billion. Please note all regulatory considerations regarding the presentation of fees must be taken into account. As you can see on slide 10 of the presentation, consumer and broker direct represented 23% of fallout-adjusted lock volume in the second quarter but accounted for approximately 70% of segment pretax income. This is not a commitment to lend. While the Pennymac workforce stays. How do I contact David A. Spector? In the fourth quarter, the pretax income was $234.1 million, a 31% decrease from . We were quick to step up and aid borrowers as the COVID-19 pandemic spread across the U.S., affecting many of our customers. PennyMac Financial Services, Inc. (NYSE:PFSI) Q2 2021 Earnings Conference Call August 5, 2021 5:05 PM ET, Isaac Garden - Vice President, Investor Relations, David Spector - Chairman & Chief Executive Officer, Andy Chang - Senior Managing Director & Chief Operating Officer, Doug Jones - President & Chief Mortgage Banking Officer, Dan Perotti - Senior Managing Director & Chief Financial Officer. The Servicing segment offers servicing of originated mortgage loans and execution and management of early buyout transactions. Our capital markets group achieved significant hedging gains that largely offset $1.1 billion in MSR fair value losses over the year, which were driven by historically low interest rates and fast prepayment speeds. Similarly, new customer acquisition or non-portfolio interest rate lock commitments were $1.5 billion, essentially unchanged from the prior quarter and up from $274 million in the second quarter of 2020. 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. This hiring mostly occurred in three key areas, servicing, direct lending and fulfillment services. David Spector joined PennyMac in 2008. In January, our consumer direct originations totaled $3.1 billion in UPB and locks totaled $4.4 billion. 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. 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 . For servicing on your existing mortgage account with Pennymac. Im proud of the actions we have taken and the dedicated management team across the company that has helped put these plans into action. As you can see on the selected operational metrics on slide 13, PennyMac Financials owned portfolio reported a prepayment speed of 32.5% in the fourth quarter, up from 29.7% in the prior quarter. The ex-dividend date was Monday, February 13th. T. Rowe Price Investment Management Inc. raised its position in shares of PennyMac Financial Services by 5.4% during the 4th quarter. Learn More on David A. Spector's contact information. 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. The percentage of profitable transactions made by David Spector is 44%. PennyMac Financial Services, Inc. (NYSE: PFSI) announced today that Doug Jones, President and Chief Mortgage Banking Officer, joined its Board of Directors effective March 1, 2023. 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. We continue to invest in people, systems and processes across our businesses, laying the groundwork that would allow us to achieve the medium-term goals we outlined in our recent Investor Day. PennyMac Financial's servicing portfolio totaled $473 billion in unpaid principal balance at June 30, up 5% from the end of the prior quarter and 22% from June 30, 2020. Segment revenue was $13.5 million, up 41% from the first quarter and 28% from June 30, 2020. No cash balance or cash flow is included in the calculation. 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). 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. David works at Pennymac Loan Services, Llc as Chief Investment Officer. 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. The slides that accompany this discussion are available on PennyMac Financials website at ir.pennymacfinancial.com. Thank you for sharing your valuable opinion. On Wednesday, March 1st, David Spector sold 26,169 shares of PennyMac Financial Services stock. He currently serves as a senior advisor to TPG Capital, a global private investment firm, and . The price of the stock has decreased by 8.12% since. As we outlined in our Investor Day, we see additional opportunities resulting from changes to the GSE's preferred stock purchase agreement. Thank you. How can I follow the stock ratings of top corporate insiders? (03-2023). You will be contacted by a representative that will help answer any inquiries you have. This financial performance is driven by the balanced business model in mortgage banking that we have built over the last 13 years. This chart shows David Spector's buying and selling at PennyMac Financial Services by year and by quarter. The predominant outcome has been through loan modifications to the borrowers to aid in their recovery. The direct lending channels continued to have an outsized impact on PFSIs production earnings in the fourth quarter. 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.