Obituary: PennyMac founder Stanford Kurland
EDITOR’S NOTE: This article was updated Jan. 27 to include the fact that Kurland died of complications from COVID-19. Stanford Kurland made a fortune from his first foray into mortgage banking, and his timely exit from Countrywide Financial came just before the housing bubble burst. His second foray made him even richer, but it also Read More →
PennyMac notches another strong earnings report
PennyMac Financial Services more than tripled its net income over the course of a year when it reported $535.2 million, or $7.03 per share, in its third quarter financial report, up from $121.5 million, or $1.51 per share, in the third quarter of 2019. The Westlake Village-based mortgage lender built on steam from a record Read More →
PennyMac’s quarter to remember
With mortgage rates at record lows and the homebuying and refinancing markets booming, PennyMac Financial Services, a Westlake Village mortgage lender, and its real estate investment trust both reported strong financial results on Aug. 6. PennyMac Financial Services announced a net income of $352.7 million for the second quarter of 2020, or $4.39 per share, Read More →
Tri-county stocks up amid market rally
Stocks rebounded sharply Mar. 2 on the Central Coast, mirroring the S&P 500, which jumped nearly 4 percent. The most impactful moves were among the mid- and large-cap stocks that make up the majority of publicly traded wealth for tri-county companies. They included Thousand Oaks-based Amgen, up 6.14 percent, and Teledyne Technologies, up 2.54 percent, Read More →
PennyMac Financial earnings go up
Westlake Village-based PennyMac Financial Services reported an increase in earnings for the fourth quarter of 2017 and for the entire year, compared to 2016, on Feb. 8. The company reported a net income of $123.9 million for the fourth quarter of 2017. Net income attributable to common stockholders was $62.3 million, or $2.44 per diluted Read More →
