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PennyMac income down 50 percent from previous quarter

By   /  Friday, November 3rd, 2017  /  Earnings, Latest news, Real Estate, Tri-County Public Companies  /  Comments Off on PennyMac income down 50 percent from previous quarter

Westlake Village-based PennyMac Mortgage Investment Trust reported on Nov. 2 a net investment income of $75.8 million and a net income attributable to common shareholders of $13.3 million for the quarter ended Sept. 30, down 50 percent from the previous quarter. Diluted earnings per common share were 20 cents, a decrease of 49 percent from Read More →

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Latest

PennyMac reports decline in net income

By   /  Thursday, August 3rd, 2017  /  Earnings, Latest news, Real Estate, Tri-County Public Companies  /  Comments Off on 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 →

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PennyMac Financial Services misses analysts’ first-quarter profit estimates

By   /  Friday, May 5th, 2017  /  Earnings, Latest news, Real Estate, Tri-County Public Companies  /  Comments Off on 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 →

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PennyMac Financial beats Wall Street’s earnings estimates

By   /  Thursday, February 2nd, 2017  /  Earnings, Latest news, Real Estate, Tri-County Public Companies  /  Comments Off on 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 →

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Kurland stepping down but influence continues

By   /  Friday, December 16th, 2016  /  Editorials, Latest news, Opinion  /  Comments Off on 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 →

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Latest

PennyMac declares dividend of 47 cents per share

By   /  Friday, September 30th, 2016  /  Earnings, Latest news, Tri-County Public Companies  /  Comments Off on 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 →

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Op/ed: Bank of America should own up to its part in the mortgage mess

By   /  Friday, August 23rd, 2013  /  Op/Eds, Opinion  /  1 Comment

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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