PennyMac Fiscal Companies, Inc. Announces Promotions of Govt Officers

WESTLAKE VILLAGE, Calif.–(Company WIRE)–Dec 16, 2020–

PennyMac Economical Expert services, Inc. (NYSE: PFSI) today declared that Andrew S. Chang, at this time Senior Managing Director and Chief Monetary Officer, will turn out to be Senior Managing Director and Main Functioning Officer of the Organization.

In this new role, Mr. Chang will go on to oversee the Company’s finance division and will incorporate duties for company functions, which include marketing and advertising, human resources, company administration and regulatory relations data technologies organization danger and strategic planning and company sustainability. Mr. Chang will keep on to report straight to David A. Spector, President and Main Government Officer of PennyMac Economic.

In addition, PennyMac Money introduced that Daniel S. Perotti, at this time Senior Running Director and Deputy Chief Economic Officer, will come to be Senior Managing Director and Chief Economic Officer, with in general accountability for the Company’s economical administration. Mr. Perotti will continue to report directly to Mr. Chang.

“I am pleased to announce these promotions for Andy and Dan which reflect the continued evolution of our organizational composition to make certain PennyMac’s long-phrase achievement,” explained Mr. Spector. “I seem forward to carry on primary the Enterprise, with a deep senior administration workforce that includes Doug Jones, Andy Chang and Vandy Fartaj, as we make on our management in the mortgage industry and are in a great posture to obtain more accomplishment and expansion in the many years to arrive.”

The foregoing modifications are productive January 1, 2021.

About PennyMac Financial Providers, Inc.

PennyMac Economical Providers, Inc. is a specialty financial services firm targeted on the creation and servicing of U.S. mortgage loans and the administration of investments similar to the U.S. house loan market.

Launched in 2008, the firm is identified as a leader in the U.S. residential mortgage industry. For the twelve months finished September 30, 2020, PennyMac Financial’s output of recently originated loans totaled $170 billion in unpaid principal equilibrium, producing it the 3rd most significant house loan loan company in the nation. As of September 30, 2020, PennyMac Monetary serviced loans totaling $402 billion in unpaid principal balance, earning it the seventh largest property finance loan servicer in the nation.

Further information and facts about PennyMac Money Companies, Inc. is accessible at ir.pennymacfinancial.com.

This push release incorporates forward-looking statements in just the indicating of Part 21E of the Securities Exchange Act of 1934, as amended, pertaining to management’s beliefs, estimates, projections and assumptions with respect to, amongst other points, the Company’s future functions, business strategies and procedures, as properly as marketplace and marketplace problems, all of which are topic to transform. Terms like “believe,” “expect,” “anticipate,” “promise,” “plan,” and other expressions or words of equivalent meanings, as effectively as foreseeable future or conditional verbs these types of as “will,” “would,” “should,” “could,” or “may” are usually intended to establish forward-hunting statements. Real benefits and operations for any upcoming interval may differ materially from people projected herein and from past final results discussed herein. Variables which could trigger actual benefits to differ materially from historic success or people anticipated contain, but are not constrained to: our publicity to threats of decline and disruptions in operations resulting from adverse temperature ailments, guy-made or organic disasters, local weather change and pandemics such as COVID-19 the frequently shifting federal, state and community regulations and laws relevant to the really regulated sector in which we function lawsuits or governmental actions that may perhaps outcome from any noncompliance with the laws and regulations relevant to our firms the home finance loan lending and servicing-relevant polices promulgated by the Shopper Economical Protection Bureau and its enforcement of these polices our dependence on U.S. govt-sponsored entities and improvements in their existing roles or their guarantees or suggestions changes to government mortgage modification courses the licensing and operational necessities of states and other jurisdictions applicable to the Company’s corporations, to which our financial institution competitors are not issue foreclosure delays and changes in foreclosures methods adjustments in macroeconomic and U.S. real estate industry disorders complications inherent in increasing bank loan output volume issues inherent in adjusting the dimensions of our operations to replicate adjustments in organization concentrations acquire options for property finance loan servicing legal rights and our achievements in successful bids adjustments in prevailing desire costs expected discontinuation of LIBOR will increase in bank loan delinquencies and defaults our reliance on PennyMac Home loan Investment decision Trust (NYSE: PMT) as a substantial resource of funding for, and revenue relevant to, our home finance loan banking small business preserving sufficient cash and liquidity to guidance enterprise growth such as compliance with financial covenants our obligation to indemnify 3rd-get together purchasers or repurchase financial loans if loans that we originate, acquire, provider or assist in the success of, fail to satisfy sure conditions or features or beneath other instances our obligation to indemnify PMT if its services are unsuccessful to satisfy certain requirements or qualities or below other situation decreases in the returns on the assets that we pick and control for our clientele, and our resulting management and incentive service fees the substantial amount of money of regulation applicable to our expenditure administration phase conflicts of desire in allocating our solutions and investment prospects between us and our advised entities the influence of community feeling on our popularity our recent expansion our skill to properly determine, deal with, check and mitigate economical pitfalls our initiation of new organization routines or investment decision methods or growth of existing small business things to do or investment decision methods our means to detect misconduct and fraud our potential to mitigate cybersecurity pitfalls and cyber incidents our potential to spend dividends to our stockholders and our organizational construction and sure requirements in our charter paperwork. You really should not location undue reliance on any forward- searching assertion and need to consider all of the uncertainties and dangers explained over, as properly as people extra thoroughly mentioned in stories and other paperwork submitted by the Firm with the Securities and Trade Commission from time to time. The Firm undertakes no obligation to publicly update or revise any ahead-on the lookout statements or any other information and facts contained herein, and the statements built in this push release are existing as of the date of this launch only.