PennyMac reports decline in net income
Westlake Village-based PennyMac Mortgage Investment Trust and PennyMac Financial Services reported a drop in earnings on Aug. 3 for the quarter ended June 30. Investment income was up 30 percent compared to the prior quarter, but net income for the mortgage investment trust was $26.4 million, a 6 percent decline from the same period in Read More →
Read More →PennyMac Financial Services misses analysts’ first-quarter profit estimates
Westlake Village-based PennyMac Financial Services reported first-quarter profit of $10.9 million or 47 cents per share on May 5. The results were lower than Wall Street expectations, which analysts surveyed by Zacks Investment Research had put at 63 cents per share. PennyMac Financial Services reported $62 million in pretax income for the first quarter of Read More →
Read More →PennyMac Financial beats Wall Street’s earnings estimates
Updated at 1 p.m. on Feb. 3: Moorpark-based PennyMac Financial Services reported net income of $113.8 million on revenue of $289.3 million for the fourth quarter of 2016, exceeding Wall Street’s expectations on earnings per share. PennyMac Financial, which was founded by former Countrywide Financial Services executives after that company was acquired by Bank of Read More →
Read More →Kurland stepping down but influence continues
PennyMac Financial’s Stanford Kurland has a habit of working in mysterious ways. A veteran of Countrywide Financial, he joined that company in the late 1970s and rose through the ranks to become its president, leaving without fanfare in 2006 — just as the excesses in the mortgage market were beginning to become apparent. In 2009, Read More →
Read More →PennyMac declares dividend of 47 cents per share
Moorpark-based PennyMac Mortgage Investment Trust declared a cash dividend of 47 cents per common share for the third quarter of 2016, which was in line with the previous quarter. This dividend will be paid on Oct. 27 to common shareholders of record as of Oct. 7. PennyMac is a mortgage real estate investment trust that Read More →
Read More →Op/ed: Bank of America should own up to its part in the mortgage mess
By Steven Mintz on August 23, 2013 The crackdown on financial institutions whose disgraceful actions in the subprime mortgage mess triggered the 2008 financial crisis have finally hit Bank of America. On Aug. 6, the Department of Justice and the U.S. Securities and Exchange Commission sued BofA for alleged securities fraud. The DOJ and SEC Read More →
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