\nPennyMac Financial Services, Inc. (NYSE: PFSI) today reported net income of $181.5 million for the third quarter of 2025, or $3.37 per share on a diluted basis, on total net revenues of $632.9 million. Book value per share increased to $81.12 from $78.04 at June 30, 2025.<\/p>\n
\nPFSI\u2019s Board of Directors declared a third quarter cash dividend of $0.30 per share, payable on November 26, 2025, to common stockholders of record as of November 17, 2025.<\/p>\n
Third Quarter 2025 Highlights<\/b><\/p>\n \n“PennyMac Financial delivered outstanding financial and operational results in the third quarter, with an 18 percent return on equity,” said Chairman and CEO David Spector. \u201cIn production, profitability nearly doubled from the prior quarter. The increase reflected strong recapture in our consumer direct lending division combined with the continued expansion of our presence in broker-direct as our partners increasingly recognize the value of entrusting us with their borrowers’ mortgage experience. Our servicing portfolio continues to grow organically, reaching nearly $720 billion in UPB. The strong core performance of the asset was highlighted in the third quarter by the success of our hedging program, which offset MSR fair value declines and demonstrated the financial stability that is central to our operating model.\u201d<\/p>\n \nMr. Spector continued, \u201cWe also announced a strategic transaction with Annaly, which involved the sale of low interest rate MSRs with an underlying UPB of $12 billion. Importantly, we retained subservicing and recapture opportunities for this portfolio, accelerating the growth of our capital-light subservicing business and freeing up capital to deploy in new, higher coupon MSRs with greater recapture and return potential. This transaction, as well as the share repurchases completed during the quarter at attractive prices, underscore our long-standing track record as best-in-class stewards of stockholder capital, ensuring our balance sheet is optimized for continued execution and growth.\u201d<\/p>\n \nMr. Spector concluded, “Our profitability \u2013 strengthened by our growing servicing portfolio and industry-leading low-cost structure \u2013 is directly amplified by our operational excellence and technological advantages. The increases in efficiency and performance we are seeing across the business, driven by the integration of artificial intelligence and advanced data optimization tools and accelerated by the adoption of Vesta’s next-generation origination platform, strategically position us for enduring success. These operational improvements, coupled with the launch of our new non-QM product to expand our addressable market, represent significant earnings potential for our stakeholders, and as a result I remain more excited than ever about the upward trajectory of our company.\u201d<\/p>\n \nThe following table presents the contributions of PennyMac Financial\u2019s segments to pretax income:<\/p>\n \n$<\/p>\n<\/td>\n \n280,092<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n34,363<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n314,455<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n–<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n314,455<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n61,696<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n–<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n61,696<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n–<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n61,696<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n6,162<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n–<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n6,162<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n–<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n6,162<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n–<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n241,238<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n241,238<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n–<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n241,238<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n–<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n–<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n–<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n6,912<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n6,912<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n111,332<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n137,098<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n248,430<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n323<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n248,753<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n97,680<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n152,220<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n249,900<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n–<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n249,900<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n13,652<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(15,122<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(1,470<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n323<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(1,147<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n172<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(980<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(808<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n4,390<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n3,582<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n361,774<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n259,499<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n621,273<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n11,625<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n632,898<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n114,491<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n52,061<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n166,552<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n38,762<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n205,314<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n69,407<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n–<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n69,407<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n–<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n69,407<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n30,841<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n10,130<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n40,971<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n3,801<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n44,772<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n–<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n29,105<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n29,105<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n–<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n29,105<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n12,342<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n466<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n12,808<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,208<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n14,016<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n3,493<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,799<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n5,292<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n4,853<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n10,145<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n4,333<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2,625<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n6,958<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,646<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n8,604<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n3,985<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n5,912<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n9,897<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n5,264<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n15,161<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n238,892<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n102,098<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n340,990<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n55,534<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n396,524<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n$<\/p>\n<\/td>\n \n122,882<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n157,401<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n280,283<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n(43,909<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n236,374<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n<\/table>\n Production Segment<\/b><\/p>\n \nThe Production segment includes the correspondent acquisition of newly originated government-insured and conventional conforming loans for PennyMac Financial\u2019s own account, fulfillment services on behalf of PMT and direct lending through the consumer direct and broker direct channels, including the underwriting and acquisition of loans from correspondent sellers on a non-delegated basis.<\/p>\n \nPennyMac Financial\u2019s loan production activity for the quarter totaled $36.5 billion in UPB, $33.2 billion of which was for its own account, and $3.3 billion of which was fee-based fulfillment activity for PMT. Correspondent locks for PFSI and direct lending IRLCs totaled $38.8 billion in UPB, down 2 percent from the prior quarter and up 24 percent from the third quarter of 2024.<\/p>\n \nProduction segment pretax income was $122.9 million, up from $57.8 million in the prior quarter and down slightly from $129.4 million in the third quarter of 2024. Production segment net revenues totaled $361.8 million, up 29 percent from the prior quarter and 23 percent from the third quarter of 2024. The increase in revenue from the prior quarter was due to increased activity in the direct lending channels and improved post-lock impacts, while the increase from the prior year was primarily due to higher volumes across all channels.<\/p>\n \nThe components of net gains on loans held for sale are detailed in the following table:<\/p>\n \n$<\/p>\n<\/td>\n \n700,326<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n814,538<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n578,982<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n17,454<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n7,075<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2,506<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n(2,354<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(1,834<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(589<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n(284,589<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(678,982<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(382,148<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n(116,382<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n93,862<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n58,068<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n$<\/p>\n<\/td>\n \n314,455<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n234,659<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n256,819<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n$<\/p>\n<\/td>\n \n280,092<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n203,961<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n235,902<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n$<\/p>\n<\/td>\n \n34,363<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n30,698<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n20,917<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \nPennyMac Financial performs fulfillment services for certain conventional conforming and jumbo loans that it acquires from non-affiliates in its correspondent production business and subsequently sells to PMT. These services include, but are not limited to, marketing, relationship management, correspondent seller approval and monitoring, loan file review, underwriting, pricing, hedging and activities related to the subsequent sale and securitization of loans in the secondary mortgage markets for PMT.<\/p>\n \nFees earned from the fulfillment of correspondent loans on behalf of PMT totaled $6.2 million in the third quarter, up 6 percent from the prior quarter and down 46 percent from the third quarter of 2024. The quarter-over-quarter increase was driven by higher conventional and jumbo acquisition volumes for PMT\u2019s account, while the year-over-year decrease was due to PMT retaining a higher proportion of conventional production in the third quarter of 2024.<\/p>\n \nUnder a renewed mortgage banking services agreement with PMT, effective July 1, 2025, correspondent production volumes are now initially acquired by PFSI. PMT retains the right to purchase up to 100 percent of non-government correspondent loan production. In the fourth quarter of 2025, we expect PMT to acquire all jumbo correspondent production and 15 to 25 percent of total conventional conforming correspondent production, compared to 17 percent in the third quarter.<\/p>\n \nNet interest income in the third quarter totaled $13.7 million, up from $10.6 million in the prior quarter. Interest income totaled $111.3 million, up from $104.2 million in the prior quarter, and interest expense totaled $97.7 million, up from $93.6 million in the prior quarter.<\/p>\n \nProduction segment expenses were $238.9 million, up 8 percent from the prior quarter and 44 percent from the third quarter of 2024. The increase from the prior quarter was driven primarily by increased capacity and volumes originated in the direct lending channels, and the increase from the third quarter of 2024 was driven primarily by higher volumes in all channels.<\/p>\n Servicing Segment<\/b><\/p>\n \nThe Servicing segment includes income from owned MSRs and subservicing. The total servicing portfolio grew to $716.6 billion in UPB at September 30, 2025, an increase of 2 percent from June 30, 2025 and 11 percent from September 30, 2024. PennyMac Financial\u2019s owned MSR portfolio grew to $477.6 billion in UPB, an increase of 2 percent from June 30, 2025 and 15 percent from September 30, 2024. PennyMac Financial subservices $239.0 billion in UPB, up 4 percent from the prior quarter. Of total subservicing UPB, $227.1 billion was for PMT, $65 million was previously owned servicing that has been repurchased by the United States Veterans Affairs (VA) pursuant to the Veterans Affairs Servicing Purchase program on an interim basis and $11.9 billion was for other non-affiliates.<\/p>\n \nThe table below details PennyMac Financial\u2019s servicing portfolio UPB:<\/p>\n \n$<\/p>\n<\/td>\n \n455,894,902<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n448,312,667<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n393,947,146<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n14,404,290<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n14,837,637<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n16,104,333<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n470,299,192<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n463,150,304<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n410,051,479<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n7,303,091<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n6,783,240<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n6,366,787<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n477,602,283<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n469,933,544<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n416,418,266<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n227,101,009<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n228,838,699<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n231,378,323<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n65,286<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n822,525<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n257,696<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n11,863,843<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n72,153<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n–<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n239,030,138<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n229,733,377<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n231,636,019<\/p>\n<\/td>\n<\/tr>\n \n$<\/p>\n<\/td>\n \n716,632,421<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n699,666,921<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n648,054,285<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \nServicing segment pretax income was $157.4 million, up from $54.2 million in the prior quarter and $3.3 million in the third quarter of 2024. Servicing segment net revenues totaled $259.5 million, up from $153.4 million in the prior quarter and $105.9 million in the third quarter of 2024.<\/p>\n \nRevenue from net loan servicing fees totaled $241.2 million, up from $150.4 million in the prior quarter and $75.8 million in the third quarter of 2024. The increase was primarily driven by lower net losses in MSR fair value and hedging results. Net loan servicing fee revenues included $535.1 million in loan servicing fees, which were up from the prior quarter primarily due to growth in the MSR portfolio. Realization of cash flows was $289.7 million in the third quarter, up from the prior quarter due to growth in the MSR portfolio and higher realized and projected prepayment speeds. Net valuation-related losses totaled $4.2 million and included MSR fair value losses of $102.5 million, and hedging gains of $98.3 million.<\/p>\n \nThe following table presents a breakdown of net loan servicing fees:<\/p>\n \n$<\/p>\n<\/td>\n \n535,106<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n506,667<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n462,037<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n(289,679<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(263,099<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(225,836<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n(102,495<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n15,929<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(402,422<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n98,306<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(109,102<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n242,051<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n(293,868<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(356,272<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(386,207<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \n$<\/p>\n<\/td>\n \n241,238<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n150,395<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n75,830<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \nServicing segment revenue included $34.4 million in net gains on loans held for sale related to early buyout loans (EBOs), up from $30.7 million in the prior quarter and $20.9 million in the third quarter of 2024. These EBOs are previously delinquent loans that were brought back to performing status through PennyMac Financial\u2019s successful servicing efforts.<\/p>\n \nNet interest expense totaled $15.1 million, compared to $28.8 million in the prior quarter and net interest income of $9.5 million in the third quarter of 2024. Interest income was $137.1 million, up from $117.1 million in the prior quarter due to increased placement fees on custodial balances due to higher average balances. Interest expense was $152.2 million, up from $146.0 million in the prior quarter driven primarily by higher average balances of financing.<\/p>\n \nServicing segment expenses totaled $102.1 million, up slightly from $99.2 million in the prior quarter.<\/p>\n Corporate and Other<\/b><\/p>\n \nCorporate and Other items include amounts attributable to corporate activities not directly attributable to the production and servicing segments as well as management fees earned from PMT. PennyMac Financial manages PMT for which it earns base management fees and may earn performance incentive fees.<\/p>\n \nPretax loss for Corporate and Other was $43.9 million, up from $35.5 million in the prior quarter and $38.8 million in the third quarter of 2024.<\/p>\n \nCorporate and Other net revenues totaled $11.6 million, and consisted of $6.9 million in management fees, $4.4 million in other revenue, and $0.3 million of net interest income. No performance incentive fees were earned in the third quarter.<\/p>\n \nExpenses were $55.5 million, up from $47.2 million in the prior quarter and $49.8 million in the third quarter of 2024, primarily driven by expenses related to technology initiatives and increased performance-based incentive compensation.<\/p>\n \nNet assets under management were $1.9 billion as of September 30, 2025, essentially unchanged from June 30, 2025 and September 30, 2024.<\/p>\n \nThe following table presents a breakdown of management fees:<\/p>\n \n$<\/p>\n<\/td>\n \n6,912<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n6,869<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n7,153<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n–<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n–<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n–<\/p>\n<\/td>\n<\/tr>\n \n$<\/p>\n<\/td>\n \n6,912<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n6,869<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n7,153<\/p>\n<\/td>\n<\/tr>\n \n$<\/p>\n<\/td>\n \n1,879,309<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n1,865,645<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n1,936,787<\/p>\n<\/td>\n<\/tr>\n<\/table>\n Consolidated Expenses<\/b><\/p>\n \nTotal expenses were $396.5 million, up from $368.3 million in the prior quarter primarily due to higher production and corporate segment expenses as mentioned above.<\/p>\n Taxes<\/b><\/p>\n \nPFSI recorded a $54.9 million tax expense, resulting in an effective tax rate of 23.2 percent.<\/p>\n \nManagement\u2019s slide presentation and accompanying material will be available in the Investor Relations section of the Company\u2019s website at pfsi.pennymac.com<\/a> after the market closes on Tuesday, October 21, 2025. Management will also host a conference call and live audio webcast at 5:00 p.m. Eastern Time to review the Company\u2019s financial results. The webcast can be accessed at pfsi.pennymac.com<\/a>, and a replay will be available shortly after its conclusion.<\/p>\n About PennyMac Financial Services, Inc.<\/b><\/p>\n \nPennyMac Financial Services, Inc. is a specialty financial services firm focused on the production and servicing of U.S. mortgage loans and the management of investments related to the U.S. mortgage market. Founded in 2008, the company is recognized as a leader in the U.S. residential mortgage industry and employs approximately 4,700 people across the country. For the twelve months ended September 30, 2025, PennyMac Financial\u2019s production of newly originated loans totaled $139 billion in unpaid principal balance, making it a top lender in the nation. As of September 30, 2025, PennyMac Financial serviced loans totaling $717 billion in unpaid principal balance, making it a top mortgage servicer in the nation. Additional information about PennyMac Financial Services, Inc. is available at pfsi.pennymac.com<\/a>.<\/p>\n Forward-Looking Statements<\/b><\/p>\n \nThis press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, regarding management\u2019s beliefs, estimates, projections, and assumptions with respect to, among other things, our financial results, future operations, business plans and investment strategies, as well as industry and market conditions, all of which are subject to change. Words like \u201cbelieve,\u201d \u201cexpect,\u201d \u201canticipate,\u201d \u201cpromise,\u201d \u201cproject,\u201d \u201cplan,\u201d and other expressions or words of similar meanings, as well as future or conditional verbs such as \u201cwill,\u201d \u201cwould,\u201d \u201cshould,\u201d \u201ccould,\u201d or \u201cmay\u201d are generally intended to identify forward-looking statements. Actual results and operations for any future period may vary materially from those projected herein and from past results discussed herein. Factors which could cause actual results to differ materially from historical results or those anticipated include, but are not limited to: interest rate changes; changes in housing prices, housing sales and real estate values; changes in macroeconomic, consumer and real estate market conditions; the federal government shutdown; compliance with changing federal, state and local laws and regulations applicable to the highly regulated industry in which we operate; lawsuits or governmental actions that may result from any noncompliance with the laws and regulations applicable to our business; the mortgage lending and servicing-related regulations promulgated by federal and state regulators and the enforcement of these regulations; the licensing and operational requirements of states and other jurisdictions applicable to our business, to which our bank competitors are not subject; difficulties inherent in adjusting the size of our operations to reflect changes in business levels; purchase opportunities for mortgage servicing rights; our substantial amount of indebtedness; increases in loan delinquencies, defaults and forbearances; foreclosure delays and changes in foreclosure practices; our dependence on U.S. government-sponsored entities and changes in their current roles or their guarantees or guidelines; our reliance on PennyMac Mortgage Investment Trust (NYSE: PMT) as a significant contributor to our mortgage banking business; maintaining sufficient capital and liquidity and compliance with financial covenants; our obligation to indemnify third-party purchasers or repurchase loans if loans that we originate, acquire, service or assist in the fulfillment of, fail to meet certain criteria; our obligation to indemnify PMT if our services fail to meet certain criteria or characteristics or under other circumstances; investment management and incentive fees; the accuracy or changes in the estimates we make about uncertainties, contingencies and asset and liability valuations; conflicts of interest in allocating our services and investment opportunities among us and our advised entity; our ability to mitigate cybersecurity risks, cyber incidents and technology disruptions; the development of artificial intelligence; the effect of public opinion on our reputation; our exposure to risks of loss and disruptions in operations resulting from severe weather events, man-made or other natural conditions, including climate change and pandemics; our ability to effectively identify, manage and hedge our credit, interest rate, prepayment, liquidity and climate risks; expanding or creating new business activities or strategies; our ability to detect misconduct and fraud; our ability to pay dividends to our stockholders; and our organizational structure and certain requirements in our charter documents. You should not place undue reliance on any forward- looking statement and should consider all of the uncertainties and risks described above, as well as those more fully discussed in reports and other documents filed by the Company with the Securities and Exchange Commission from time to time. The Company undertakes no obligation to publicly update or revise any forward-looking statements or any other information contained herein, and the statements made in this press release are current as of the date of this release only. The press release contains financial information calculated other than in accordance with U.S. generally accepted accounting principles (\u201cGAAP\u201d), such as pretax income excluding valuation-related items and operating net income that provide a meaningful perspective on the Company\u2019s business results since the Company utilizes this information to evaluate and manage the business. Non-GAAP disclosures have limitations as an analytical tool and should not be viewed as a substitute for financial information determined in accordance with GAAP.<\/p>\n PENNYMAC FINANCIAL SERVICES, INC. \n$<\/p>\n<\/td>\n \n621,921<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n162,186<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n145,814<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n62,228<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n462,262<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n667,934<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n774,021<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n784,958<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n960,267<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n7,490,473<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n6,961,224<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n6,565,704<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n202,082<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n180,642<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n190,612<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n396,006<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n430,602<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n400,764<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n9,653,942<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n9,531,249<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n7,752,292<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n40,165<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n30,604<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n32,603<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n5,416,967<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n4,962,535<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n5,512,289<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n743,315<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n715,642<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n643,259<\/p>\n<\/td>\n<\/tr>\n \n$<\/p>\n<\/td>\n \n25,401,120<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n24,221,904<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n22,871,538<\/p>\n<\/td>\n<\/tr>\n \n$<\/p>\n<\/td>\n \n7,130,423<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n7,344,254<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n6,600,997<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n699,182<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n700,296<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n517,527<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n1,325,716<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,327,143<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,723,632<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n4,829,113<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n4,185,012<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n3,162,239<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n24,276<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n33,541<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n41,471<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n1,593<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,643<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,718<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n476,094<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n394,785<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n331,512<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n80,605<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n86,174<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n81,040<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n24,806<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n24,806<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n26,099<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n1,151,395<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,097,452<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,105,550<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n5,416,967<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n4,962,535<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n5,512,289<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n33,064<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n31,763<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n28,286<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n21,193,234<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n20,189,404<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n19,132,360<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n5<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n5<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n5<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n86,680<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n76,991<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n54,415<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n4,121,201<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n3,955,504<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n3,684,758<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n4,207,886<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n4,032,500<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n3,739,178<\/p>\n<\/td>\n<\/tr>\n \n$<\/p>\n<\/td>\n \n25,401,120<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n24,221,904<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n22,871,538<\/p>\n<\/td>\n<\/tr>\n<\/table>\n PENNYMAC FINANCIAL SERVICES, INC. \n$<\/p>\n<\/td>\n \n314,455<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n234,659<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n256,819<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n 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\n\u00a0<\/p>\n<\/td>\n \n(60,021<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n24,557<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n$<\/p>\n<\/td>\n \n181,503<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n136,463<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n69,368<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n$<\/p>\n<\/td>\n \n3.51<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n2.64<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n1.36<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n$<\/p>\n<\/td>\n \n3.37<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n2.54<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n1.30<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n51,730<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n51,667<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n51,180<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n53,879<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n53,635<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n53,495<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n$<\/p>\n<\/td>\n \n0.30<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n0.30<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n0.30<\/p>\n<\/td>\n \n\u00a0<\/p>\n View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20251021582908\/en\/<\/a><\/span><\/p>\n Media Investors KEYWORDS:<\/b> United States North America California<\/p>\n INDUSTRY KEYWORDS:<\/b> Banking Professional Services Finance<\/p>\n\n
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\n \n \n Quarter ended September 30, 2025<\/b><\/td>\n<\/tr>\n \n \n \n Production<\/b><\/td>\n \n Servicing<\/b><\/td>\n \n Reportable
segment total<\/b><\/td>\n\n Corporate
and other<\/b><\/td>\n\n Total<\/b><\/td>\n<\/tr>\n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n (in thousands)<\/b><\/td>\n<\/tr>\n \n Revenue:<\/td>\n \n \n \n \n \n \n \n \n \n <\/tr>\n \n Net gains on loans held for sale at fair value<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Loan origination fees<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Fulfillment fees from PMT<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Net loan servicing fees<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Management fees<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Net interest income (expense):<\/td>\n \n \n \n \n \n \n \n \n \n <\/tr>\n \n Interest income<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Interest expense<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Other<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Total net revenue<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Expenses<\/td>\n \n \n \n \n \n \n \n \n \n <\/tr>\n \n Compensation<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Loan origination<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Technology<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Servicing<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Marketing and advertising<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Professional services<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Occupancy and equipment<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Other<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Total expenses<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Income (loss) before provision for income taxes<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n
\n \n \n Quarter ended<\/b><\/td>\n<\/tr>\n \n \n \n September 30,
2025<\/b><\/td>\n\n June 30,
2025<\/b><\/td>\n\n September 30,
2024<\/b><\/td>\n<\/tr>\n\n \n \n (in thousands)<\/b><\/td>\n<\/tr>\n \n Receipt of MSRs<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n Gains on sale of loans to PennyMac Mortgage Investment Trust net of mortgage servicing rights recapture payable<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n Provision for representations and warranties, net<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n Cash loss, including cash hedging results<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n Fair value changes of pipeline, inventory and hedges<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n Net gains on mortgage loans held for sale<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n Net gains on mortgage loans held for sale by segment:<\/td>\n \n \n \n \n \n <\/tr>\n \n Production<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n Servicing<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n
\n \n \n September 30,
2025<\/b><\/td>\n\n June 30,
2025<\/b><\/td>\n\n September 30,
2024<\/b><\/td>\n<\/tr>\n\n \n \n (in thousands)<\/b><\/td>\n<\/tr>\n \n Owned<\/td>\n \n \n \n \n \n <\/tr>\n \n Mortgage servicing rights and liabilities<\/td>\n \n \n \n \n \n <\/tr>\n \n Originated<\/td>\n \n \n \n \n \n \n \n \n \n \n Purchased<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Loans held for sale<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Subserviced for:<\/td>\n \n \n \n \n \n <\/tr>\n \n PMT<\/td>\n \n \n \n \n \n \n \n \n \n \n U.S. Department of Veterans Affairs<\/td>\n \n \n \n \n \n \n \n \n \n \n Other non-affiliates<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Total loans serviced<\/td>\n \n \n \n \n \n \n \n \n \n \n
\n \n \n Quarter ended<\/b><\/td>\n<\/tr>\n \n \n \n September 30,
2025<\/b><\/td>\n\n June 30,
2025<\/b><\/td>\n\n September 30,
2024<\/b><\/td>\n<\/tr>\n\n \n \n (in thousands)<\/b><\/td>\n<\/tr>\n \n Loan servicing fees<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n Changes in fair value of MSRs and MSLs resulting from:<\/td>\n \n \n \n \n \n <\/tr>\n \n Realization of cash flows<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n Change in fair value inputs<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n Hedging gains (losses)<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n Net change in fair value of MSRs and MSLs<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n Net loan servicing fees<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n
\n \n \n Quarter ended<\/b><\/td>\n<\/tr>\n \n \n \n September 30,
2025<\/b><\/td>\n\n June 30,
2025<\/b><\/td>\n\n September 30,
2024<\/b><\/td>\n<\/tr>\n\n \n \n (in thousands)<\/b><\/td>\n<\/tr>\n \n Management fees:<\/td>\n \n \n \n \n \n <\/tr>\n \n Base<\/td>\n \n \n \n \n \n \n \n \n \n \n Performance incentive<\/td>\n \n \n \n \n \n \n \n \n \n \n Total management fees<\/td>\n \n \n \n \n \n \n \n \n \n \n Net assets of PennyMac Mortgage Investment Trust<\/td>\n \n \n \n \n \n \n \n \n \n \n
\n \n
\n
CONSOLIDATED BALANCE SHEETS (UNAUDITED)<\/b><\/p>\n<\/td>\n<\/tr>\n\n \n \u00a0<\/td>\n \n \u00a0<\/td>\n \n \u00a0<\/td>\n \u00a0<\/td>\n<\/tr>\n \n \n \u00a0<\/td>\n September 30,
2025<\/b><\/td>\n\u00a0<\/td>\n June 30,
2025<\/b><\/td>\n\u00a0<\/td>\n September 30,
2024<\/b><\/td>\n<\/tr>\n\n \n \u00a0<\/td>\n (in thousands, except share amounts)<\/b><\/td>\n<\/tr>\n \n ASSETS<\/b><\/td>\n \u00a0<\/td>\n \n \u00a0<\/td>\n \n \u00a0<\/td>\n <\/tr>\n \n Cash<\/td>\n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \n Short-term investment at fair value<\/td>\n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \n Principal-only stripped mortgage-backed securities at fair value<\/td>\n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \n Loans held for sale at fair value<\/td>\n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \n Derivative assets<\/td>\n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \n Servicing advances, net<\/td>\n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \n Mortgage servicing rights at fair value<\/td>\n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \n Receivable from PennyMac Mortgage Investment Trust<\/td>\n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \n Loans eligible for repurchase<\/td>\n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \n Other<\/td>\n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \n Total assets<\/td>\n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \n \n \u00a0<\/td>\n \n \u00a0<\/td>\n \n \u00a0<\/td>\n \u00a0<\/td>\n<\/tr>\n \n LIABILITIES<\/b><\/td>\n \u00a0<\/td>\n \n \u00a0<\/td>\n \n \u00a0<\/td>\n <\/tr>\n \n Assets sold under agreements to repurchase<\/td>\n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \n Mortgage loan participation purchase and sale agreements<\/td>\n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \n Notes payable secured by mortgage servicing assets<\/td>\n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \n Unsecured senior notes<\/td>\n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \n Derivative liabilities<\/td>\n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \n Mortgage servicing liabilities at fair value<\/td>\n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \n Accounts payable and accrued expenses<\/td>\n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \n Payable to PennyMac Mortgage Investment Trust<\/td>\n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \n Payable to exchanged Private National Mortgage AcceptanceCompany, LLC unitholders under tax receivable agreement<\/td>\n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \n Income taxes payable<\/td>\n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \n Liability for loans eligible for repurchase<\/td>\n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \n Liability for losses under representations and warranties<\/td>\n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \n Total liabilities<\/td>\n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \n \n \u00a0<\/td>\n \n \u00a0<\/td>\n \n \u00a0<\/td>\n \u00a0<\/td>\n<\/tr>\n \n STOCKHOLDERS’ EQUITY<\/b><\/td>\n \u00a0<\/td>\n \n \u00a0<\/td>\n \n \u00a0<\/td>\n <\/tr>\n \n Common stock\u2014authorized 200,000,000 shares of $0.0001 parvalue; issued and outstanding 51,875,223, 51,671,905, and51,257,630 shares, respectively<\/td>\n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \n Additional paid-in capital<\/td>\n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \n Retained earnings<\/td>\n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \n Total stockholders’ equity<\/td>\n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \n Total liabilities and stockholders\u2019 equity<\/td>\n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n \n \n \n
\n \n
\n
CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)<\/b><\/p>\n<\/td>\n<\/tr>\n\n \n \u00a0<\/td>\n \u00a0<\/td>\n<\/tr>\n \n \n \u00a0<\/td>\n Quarter ended<\/b><\/td>\n<\/tr>\n \n \n \u00a0<\/td>\n September 30,
2025<\/b><\/td>\n\u00a0<\/td>\n June 30,
2025<\/b><\/td>\n\u00a0<\/td>\n September 30,
2024<\/b><\/td>\n<\/tr>\n\n \n \u00a0<\/td>\n (in thousands, except per share amounts)<\/b><\/td>\n<\/tr>\n \n Revenues<\/b><\/td>\n \u00a0<\/td>\n \n \u00a0<\/td>\n \n \u00a0<\/td>\n <\/tr>\n \n Net gains on loans held for sale at fair value<\/td>\n \u00a0<\/td>\n \n \n \n \u00a0<\/td>\n \n \n \n \u00a0<\/td>\n \n \n \n \n Loan origination fees<\/td>\n \u00a0<\/td>\n \n \n \n \u00a0<\/td>\n \n \n \n \u00a0<\/td>\n \n \n \n \n Fulfillment fees from PennyMac Mortgage Investment Trust<\/td>\n \u00a0<\/td>\n \n \n \n \u00a0<\/td>\n \n \n \n \u00a0<\/td>\n \n \n \n \n Net loan servicing fees:<\/td>\n \u00a0<\/td>\n \n \u00a0<\/td>\n \n \u00a0<\/td>\n <\/tr>\n \n Loan servicing fees<\/td>\n \u00a0<\/td>\n \n \n \n \u00a0<\/td>\n \n \n \n \u00a0<\/td>\n \n \n \n \n Change in fair value of mortgage servicing rights and mortgage servicing liabilities<\/td>\n \u00a0<\/td>\n \n \n \n \u00a0<\/td>\n \n \n \n \u00a0<\/td>\n \n \n \n \n Mortgage servicing rights hedging results<\/td>\n \u00a0<\/td>\n \n \n \n \u00a0<\/td>\n \n \n \n \u00a0<\/td>\n \n \n \n \n Net loan servicing fees<\/td>\n \u00a0<\/td>\n \n \n \n \u00a0<\/td>\n \n \n \n \u00a0<\/td>\n \n \n \n \n Net interest (expense) income:<\/td>\n \u00a0<\/td>\n \n \u00a0<\/td>\n \n \u00a0<\/td>\n <\/tr>\n \n Interest income<\/td>\n \u00a0<\/td>\n \n \n \n \u00a0<\/td>\n \n \n \n \u00a0<\/td>\n \n \n \n \n Interest expense<\/td>\n \u00a0<\/td>\n \n \n \n \u00a0<\/td>\n \n \n \n \u00a0<\/td>\n \n \n \n \n \n \u00a0<\/td>\n \n \n \n \u00a0<\/td>\n \n \n \n \u00a0<\/td>\n \n \n \n \n Management fees from PennyMac Mortgage Investment Trust<\/td>\n \u00a0<\/td>\n \n \n \n \u00a0<\/td>\n \n \n \n \u00a0<\/td>\n \n \n \n \n Other<\/td>\n \u00a0<\/td>\n \n \n \n \u00a0<\/td>\n \n \n \n \u00a0<\/td>\n \n \n \n \n Total net revenues<\/td>\n \u00a0<\/td>\n \n \n \n \u00a0<\/td>\n \n \n \n \u00a0<\/td>\n \n \n \n \n Expenses<\/b><\/td>\n \u00a0<\/td>\n \n \u00a0<\/td>\n \n \u00a0<\/td>\n <\/tr>\n \n Compensation<\/td>\n \u00a0<\/td>\n \n \n \n \u00a0<\/td>\n \n \n \n \u00a0<\/td>\n \n \n \n \n Loan origination<\/td>\n \u00a0<\/td>\n \n \n \n \u00a0<\/td>\n \n \n \n \u00a0<\/td>\n \n \n \n \n Technology<\/td>\n \u00a0<\/td>\n \n \n \n \u00a0<\/td>\n \n \n \n \u00a0<\/td>\n \n \n \n \n Servicing<\/td>\n \u00a0<\/td>\n \n \n \n \u00a0<\/td>\n \n \n \n \u00a0<\/td>\n \n \n \n \n Marketing and advertising<\/td>\n \u00a0<\/td>\n \n \n \n \u00a0<\/td>\n \n \n \n \u00a0<\/td>\n \n \n \n \n Professional services<\/td>\n \u00a0<\/td>\n \n \n \n \u00a0<\/td>\n \n \n \n \u00a0<\/td>\n \n \n \n \n Occupancy and equipment<\/td>\n \u00a0<\/td>\n \n \n \n \u00a0<\/td>\n \n \n \n \u00a0<\/td>\n \n \n \n \n Other<\/td>\n \u00a0<\/td>\n \n \n \n \u00a0<\/td>\n \n \n \n \u00a0<\/td>\n \n \n \n \n Total expenses<\/td>\n \u00a0<\/td>\n \n \n \n \u00a0<\/td>\n \n \n \n \u00a0<\/td>\n \n \n \n \n Income before provision for (benefit from) income taxes<\/b><\/td>\n \u00a0<\/td>\n \n \n \n \u00a0<\/td>\n \n \n \n \u00a0<\/td>\n \n \n \n \n Provision for (benefit from) income taxes<\/td>\n \u00a0<\/td>\n \n \n \n \u00a0<\/td>\n \n \n \n \u00a0<\/td>\n \n \n \n \n Net income<\/td>\n \u00a0<\/td>\n \n \n \n \u00a0<\/td>\n \n \n \n \u00a0<\/td>\n \n \n \n \n Earnings per share<\/b><\/td>\n \u00a0<\/td>\n \n \u00a0<\/td>\n \n \u00a0<\/td>\n <\/tr>\n \n Basic<\/td>\n \u00a0<\/td>\n \n \n \n \u00a0<\/td>\n \n \n \n \u00a0<\/td>\n \n \n \n \n Diluted<\/td>\n \u00a0<\/td>\n \n \n \n \u00a0<\/td>\n \n \n \n \u00a0<\/td>\n \n \n \n \n Weighted-average common shares outstanding<\/b><\/td>\n \u00a0<\/td>\n \n \u00a0<\/td>\n \n \u00a0<\/td>\n <\/tr>\n \n Basic<\/td>\n \u00a0<\/td>\n \n \n \n \u00a0<\/td>\n \n \n \n \u00a0<\/td>\n \n \n \n \n Diluted<\/td>\n \u00a0<\/td>\n \n \n \n \u00a0<\/td>\n \n \n \n \u00a0<\/td>\n \n \n \n \n Dividend declared per share<\/td>\n \u00a0<\/td>\n \n \n \n \u00a0<\/td>\n \n \n \n \u00a0<\/td>\n \n \n <\/tr>\n<\/table>\n <\/p>\n
\n<\/b>
Kristyn Clark
\n
mediarelations@pennymac.com
\n<\/a>
805.395.9943<\/p>\n
\n<\/b>
Kevin Chamberlain
\n
Isaac Garden
\n
PFSI_IR@pennymac.com
\n<\/a>
818.264.4907<\/p>\n
![\"Logo\"](\"https:\/\/mms.businesswire.com\/media\/20251021582908\/en\/2179555\/3\/PFSI-logo-R-horz-rgb-pos-color.jpg\"){kind=logo}
<\/td>\n<\/tr>\n