WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)--PennyMac Financial Services, Inc. (NYSE: PFSI), PennyMac Mortgage Investment Trust (NYSE: PMT) and their affiliates (collectively “Pennymac”) announced today their 15-year anniversary. Reflecting on enterprise growth and success, Pennymac will commemorate its anniversary through philanthropic efforts that foster stronger community engagement and drive favorable social impact across the nation.
“Since the beginning, the vision for Pennymac was to create a mortgage bank that would become one of the most respected and trusted in the industry,” said David Spector, Chairman and CEO at Pennymac. “As we now celebrate our 15th anniversary, we’re proud of the strong foundation we’ve established and look forward to achieving more success together. We’d like to thank our team members, customers, partners and homeowners for their support.”
Pennymac has made a significant impact within the mortgage industry. Early milestones included PMT’s initial public offering in 2009 and the launch of Pennymac Correspondent Group in 2010. PFSI went public in 2013 with a small correspondent production group and a total servicing portfolio of around $50 billion in unpaid principal balance. Today, Pennymac has become the largest correspondent lender, a leading servicer (with nearly $540 billion in unpaid principal balance), and a trusted capital partner to independent originators and mortgage businesses across the country. Additionally, the launch of Pennymac TPO in 2018 along with investments made in Pennymac's Consumer Direct Lending Group have expanded opportunities for growth in the mortgage industry.
Pennymac also developed exemplary multichannel mortgage origination and servicing technology platforms that deliver process and technical innovation. These platforms have accelerated Pennymac’s business strategy and leadership position within the mortgage space. Last year, Pennymac announced its rebranding efforts, revealing the “Greatness Lives Here” campaign, which included an updated logo and brand identity.
As a top lender, since its inception Pennymac has helped more than 4 million homeowners achieve their aspiration of home. Pennymac has set an ongoing goal to create and sustain positive social impacts in our workplace, operations and the communities that we serve.
In celebration of its 15-year anniversary, Pennymac will be awarding its employees with Pennymac Cause Cards that can be used to support charities that are meaningful to them across Pennymac’s local and national footprint. Pennymac also will be launching a new Volunteer Grants Program to encourage and incentivize volunteerism in our community. Eligible employees will be able to earn volunteer grants for charities that they volunteer with in their local communities.
During 2022, the Pennymac Corporate Philanthropy Program included a Matching Gifts Program, which provided a company match for donations to eligible organizations of up to a maximum match amount of $2,000 per employee per year, a Charitable Grants Program, and a Corporate Sponsorships Program. Pennymac donated over $3 million to local and national charities across the nation.
At Pennymac, our corporate sustainability program prioritizes those key environmental, social and governance impacts that underpin our long-term business strategy.
“Our corporate philanthropy and diversity, equity, and inclusion initiatives play a critical role in how Pennymac has continued to achieve positive social impacts in our workforce and in the local communities where we live and serve,” said Kisha Parker Croom, Managing Director of Corporate Sustainability at Pennymac. “We remain guided by a consistent commitment to advancing our core values of being Accountable, Reliable and Ethical and operating our business in a way that drives long-term, sustainable growth.”
Since its founding, Pennymac has serviced over $1 trillion in loans and will continue to administer additional products to best serve its customers. For more information about Pennymac please visit WWW.PENNYMAC.COM.
About PennyMac Financial Services, Inc.
PennyMac Financial Services, Inc. is a specialty financial services firm focused on the production and servicing of U.S. mortgage loans and the management of investments related to the U.S. mortgage market. Founded in 2008, the company is recognized as a leader in the U.S. residential mortgage industry and employs over 4,600 people across the country. For the twelve months ended September 30, 2022, PennyMac Financial’s production of newly originated loans totaled $133 billion in unpaid principal balance, making it the fourth largest mortgage lender in the nation. As of September 30, 2022, PennyMac Financial serviced loans totaling $539 billion in unpaid principal balance, making it a top ten mortgage servicer in the nation. Additional information about PennyMac Financial Services, Inc. is available at ir.pennymacfinancial.com.
About PennyMac Mortgage Investment Trust
PennyMac Mortgage Investment Trust is a mortgage real estate investment trust (REIT) that invests primarily in residential mortgage loans and mortgage-related assets. PMT is externally managed by PNMAC Capital Management, LLC, a wholly-owned subsidiary of PennyMac Financial Services, Inc. (NYSE: PFSI). Additional information about PennyMac Mortgage Investment Trust is available at www.pennymac-reit.com.
