Company Profile
- Private National Mortgage Acceptance Company, LLC (“PennyMac” or “the company”), an intermediate holding company, together with its operating subsidiary, PennyMac Loan Services, LLC (PLS), is a leading residential mortgage loan originator and servicer formed in 2008. PennyMac is owned by PennyMac Financial Services, Inc. (NYSE: PFSI). PLS predominantly originates prime residential loans for its own account and the affiliated PennyMac Mortgage Investment Trust (NYSE: PMT) and services residential loans for both non-affiliates and PMT.
- PLS historically focused on correspondent loan production to create mortgage servicing rights (“MSRs”); however, in recent years, it has focused on the broker and consumer direct origination channels to broaden the production platform. PLS also capitalizes on its extensive relationship with PMT to generate substantial revenues, which include the sale of loans, loan fulfillment services, sub-servicing fees, and investment…