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Pennymac Financial Services Inc
PennyMac Financial Services Inc. (PFSI) is a specialty financial services firm focused on the production and servicing of US residential mortgage loans and the management of investments related to US residential mortgage loans. The company operates through two segments: Production and Servicing, and Investment Management.
In terms of financial performance, PFSI has delivered consistent growth in earnings. In its most recent quarterly report (Q3 2021), the company reported net income of $300.3 million, or $2.50 per diluted share, compared to $263.4 million, or $2.16 per diluted share, in the third quarter of 2020. This represents a year-over-year increase in earnings per share of 15.6%.
For the first nine months of 2021, PennyMac reported net income of $843.0 million, or $7.01 per diluted share, compared to $660.2 million, or $5.41 per diluted share, in the same period of 2020. This reflects a year-over-year increase in earnings per share of 28.5%.
PFSI's growth has been driven by several factors, including an increase in mortgage origination volume, a shift in the company's origination mix toward higher-margin products, growth in the servicing portfolio, and strong performance in the company's investment management segment.
In addition to its strong financial performance, PennyMac has also been recognized for its commitment to corporate social responsibility. The company has been included in the Dow Jones Sustainability Index (DJSI) for three consecutive years, reflecting its efforts to promote environmental, social, and governance (ESG) best practices.
Overall, PennyMac Financial Services Inc. is a well-established and growing player in the US residential mortgage market, with a strong track record of financial performance and a commitment to ESG best practices. Investors looking for exposure to the US housing market may want to consider PFSI as part of their investment strategy.
It is important to note that like any investment, investing in PFSI comes with risks, and potential investors should conduct their own due diligence and consult with a financial advisor before making any investment decisions. Historical financial performance is not a guarantee of future results.