About PennyMac Financial Services, Inc.
PennyMac Financial Services, Inc. operates as a mortgage banking and investment management company in the United States. Founded in 2008 and headquartered in Westlake Village, California, the company provides a range of financial services through its two primary business segments.
Business Segments
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Production Segment: Focuses on the origination, acquisition, and sale of loans. This segment sources residential mortgage loans, including conventional and government-insured loans, through:
- Correspondent production
- Consumer direct lending
- Broker direct lending
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Servicing Segment: Handles loan servicing activities for newly originated loans and loans serviced for others. Key functions include:
- Loan administration and collection
- Default management (e.g., foreclosure supervision)
- Customer support and payment processing
- Loss mitigation programs (e.g., modifications, forbearance)