There are no executives at Pennymac Mortgage Investment Trust getting paid more. The largest trade he's ever made was exercising 205,881 units of Pennymac Mortgage Investment Trust stock on 2 April 2018 worth over $2,707,335. On Brandt, Chamberlain says the executive oversaw 700 to 800 employees at Countrywide, including one to three employees whose partial responsibility was to take loans for the VIP unit.. The company expects to hire as many as 100 employees for the office, which is in Pasadena, California, including loan officers and underwriters. Coordinating operations , 4.. A Patent Pending People Search Process. Now he is in one . He was 68.Kurland had been battling brain cancer as well."COVID-19 has robbed us of a great leader, mentor and friend," David Spector, chief executive . But the cycle of mortgaging is costing taxpayers 62 cents on the dollar. "You could say he's brilliant," says . S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. Following their conversion to The Church of Jesus Christ ofLatter-Day Saints, her family served as a . Stanford Kurland, founder and chairman of Westlake Village mortgage brokerage PennyMac Financial Services Inc., died from complications related to COVID-19, the company announced on Monday. PennyMac Mortgage Investment Trust is a mortgage real estate investment trust (REIT) that invests primarily in residential mortgage loans and mortgage-related assets. Search Details, Stanford Kurland's Phone #, Address & More Some things haven't changed, not least the aggressive tactics of PennyMac's telesales staff, who spend 15 hours a day contacting "the greedy, the unfortunate and the remorseful in thrall to a mortgage that Kurland has bought back", says The First Post. The best description of this appeared in the New York Times in a column by op-ed writer Gail Collins: "It's like Jeffrey Dahmer selling body parts to a clinic." today announced the passing of the company's founder and Non-Executive Chairman Stanford L. Kurland. FORTUNE The Federal Reserves recent decision to buy mortgage bonds until the economy recovers has made home lending more attractive than it has been in years. In the six years before he abruptly quit in 2006, Countrywide's portfolio mushroomed from $62bn to $463bn. In recent investor presentations, Kurland and other PennyMac executives have talked up the companys unit that finances new mortgage loans made by outside brokers and small banks. Once you find the obituary you are looking for, you can get important information about upcoming services, share a favorite photo or memory, and . Offers may be subject to change without notice. PennyMac spokesman Kevin Chamberlain, and Countrywide alumni, says PennyMacs retail operation is focused on refinancing delinquent borrowers whose mortgages have been acquired by PennyMac into affordable loans. Her Other Children Stanford Kurland Bio Details On average, Pennymac Mortgage Investment Trust executives and independent directors trade stock every 16 days with the average trade being worth of $70,951. Memorial Redwood Mortuary & Cemetery "It is horrible what transpired in the industry," he sighs. . Mortgage brokers like Kurland pushed these loans because they knew they were going to immediately dump that trash. With his passion and vision, Stan led and built two of the largest and most influential companies in our industry, making home loans to millions of Americans. As of 20 January 2021 he still owns at least 7,564,990 units of Pennymac Mortgage Investment Trust stock. He bought a house he couldn't afford with a mortgage he couldn't pay and then slid his credit card to get a big screen TV and a dirt bike for his kid. Our Manager, our Servicer, and PNMAC are controlled subsidiaries of PFSI. The most active insiders traders include Joel S Marcus, Stanford L Kurland a Frank P Willey. PMT is externally managed by PNMAC Capital Management, LLC, a wholly-owned subsidiary of PennyMac Financial Services, Inc. Pennymac Mortgage Investment Trust executives and other stock owners filed with the SEC include: Track performance, allocation, dividends, and risks, Annotate, download XLSX & look up similar tables, Filter, compare, and track coins & tokens, insiders at Pennymac Mortgage Investment Trust, Stocks and cryptocurrency portfolio tracker. And for that scam, far more than any poor homeowner, he richly deserves the Creep of the Week Award. Mr. Kurland also has been the executive chairman of PennyMac Financial Services, Inc., or PFSI, since January 2017 and, prior thereto, had been chairman of the board and chief executive officer from February 2013 through December 2016. In any newspaper and Legacy.com. Search Details, Stanford Kurland's Contact Info, Social Profiles & More There are no executives at Pennymac Mortgage Investment Trust getting paid more. Investors Mr. Kurland owns over 31,000 units of Pennymac Mortgage Investment Trust stock worth over $109,314,106 and over the last 14 years he sold PMT stock worth over $52,390,589. Mr. Kurland began his professional career in 1975 in public accounting, practicing as a CPA for the firm now known as Grant Thornton. Along with Kurland, PennyMacs chief operating officer, chief financial officer and chief credit officer all hail from Countrywide, as do the firms head of marketing, head of consumer lending and head of human resources. The Westlake Village, California-based company said. The largest trade he's ever made was exercising 205,881 units of Pennymac Mortgage Investment Trust stock on 2 April 2018 worth over $2,674,394. Stan Kurland Escaped Wreckage of Countrywide Financial - WSJ News Corp is a global, diversified media and information services company focused on creating and distributing authoritative and. PMT is externally managed by PNMAC Capital Management, LLC, a wholly-owned subsidiary of PennyMac Financial Services, Inc. Pennymac Mortgage Investment Trust executives and other stock owners filed with the SEC include: Track performance, allocation, dividends, and risks, Annotate, download XLSX & look up similar tables, Filter, compare, and track coins & tokens, insiders at Pennymac Mortgage Investment Trust, Stocks and cryptocurrency portfolio tracker. . Mr. Kurland owns over 31,000 units of Pennymac Mortgage Investment Trust stock worth over $101,597,816 and over the last 14 years he sold PMT stock worth over $52,390,589. He was 68. Disclaimer: PeekYou is not a consumer reporting agency per the Fair Credit Reporting Act. Over the last 14 years, insiders at Pennymac Mortgage Investment Trust have traded over $15,722,030 worth of Pennymac Mortgage Investment Trust stock and bought 336,844 units worth $3,890,204 Mr. Kurland has been a member of our Board since our formation in May 2009 and has been our Executive Chairman since January 2017. The guy in the bungalow next door may have made some mistakes. Over the last 14 years, insiders at Pennymac Mortgage Investment Trust have traded over $15,722,030 worth of Pennymac Mortgage Investment Trust stock and bought 336,844 units worth $3,890,204 Alan was a man of many talents, from acting to directing to. PennyMac Mortgage Investment Trust is a mortgage real estate investment trust (REIT) that invests primarily in residential mortgage loans and mortgage-related assets. None of the executives at PennyMac are directly linked to any of the alleged wrongdoing at Countrywide. 12 Mar 2009. As the Non-Executive Chairman of the Trustee of Pennymac Mortgage Investment Trust, the total compensation of Stanford Kurland at Pennymac Mortgage Investment Trust is $15,070,800. The prey was that guy in the bungalow next door. Stanford's mailing address filed with the SEC is C/O PENNYMAC FINANCIAL SERVICES, INC., 3043 TOWNSGATE ROAD, WESTLAKE VILLAGE, CA, 91361. Then PennyMac gives homeowners the opportunity to refinance at affordable rates - perhaps rates that Kurland, as president of Countrywide, should have been offering in the first place. PMT is externally managed by PNMAC Capital Management, LLC, a wholly-owned subsidiary of PennyMac Financial Services, Inc. Pennymac Mortgage Investment Trust executives and other stock owners filed with the SEC include: Track performance, allocation, dividends, and risks, Annotate, download XLSX & look up similar tables, Filter, compare, and track coins & tokens, insiders at Pennymac Mortgage Investment Trust, Stocks and cryptocurrency portfolio tracker. Kurland's departure rang alarm bells because he was generally seen as Mozilo's successor. On average, Pennymac Mortgage Investment Trust executives and independent directors trade stock every 16 days with the average trade being worth of $70,951. None of those Wall Street wizards who had made untold billions on this scheme had calculated a drop in the market. PennyMac, though, doesnt seem to be hiding its lending operations from potential customers. " I am deeply saddened to share the news of Stan's passing. Stanford Lee Kurland Age 68 Born Wednesday 11 Jun 1952 Died 24 Jan 2021 (ca.) In 2008, Mr. Kurland founded PennyMac in partnership with BlackRock Mortgage Ventures, LLC and HC Partners, formerly Highfields Capital Management. In addition, he makes $15,070,800 as Non-Executive Chairman of the . When Bank of America bought Countrywide last year, Angelo Mozilo declared that the Bank would "reap the benefits of what we have sowed". 2 job at Countrywide Financial to founding the pair of publicly traded companies known as PennyMac, has died at 68. Creating the vision , 2. Most recently he sold 31,000 units of PMT stock worth $1,883,560 on 20 January 2021. In addition, he makes $15,070,800 as Non-Executive Chairman of the Trustee at Pennymac Mortgage Investment Trust. Amelia Dominguez Theodosis, 76, of Lehi, Utah passed away on Sunday February 19, 2023 in Salt LakeCity, UT surrounded by her loved ones. PennyMac Financial Services, Inc. is a specialty financial services firm with a comprehensive mortgage platform and integrated business focused on the production and servicing of U.S. mortgage loans and the management of investments related to the U.S. mortgage market. Mr. Kurland died from complications related to COVID-19 and had been battling brain cancer. Creep of the Week: PennyMac's Stanford L. Kurland. The Hollywood producer, who is best known for his 2010 film Remember Me, is based in LA with his wife and daughters and seems to be relishing. John Taylor, who heads the National Community Reinvestment Coalition and has been a frequent critic of subprime lenders, welcomes the firm. He will be deeply missed by many in our industry and our community including all of us here at PennyMac., I am fortunate to have worked alongside Stan for the last 31 years and am honored to call him a dear friend, Mr. Spector continued. Still, that would be a fraction of what Countrywide was, which at its height financed about $500 billion in home loans a year, and regularly ranked as the nations largest mortgage lender. Copyright 2023 PeekYou.com. Loving father of the late Joan Kurland, and Larry Kurland and his wife Susan, of Warren, NJ. 6500 S Redwood Rd, Salt Lake City, Utah , 84123. Mr. Kurland also has been the executive chairman of PennyMac Financial Services, Inc., or PFSI, since January 2017 and, prior thereto, had been chairman of the board and chief executive officer from February 2013 through December 2016. Loving father of the late Joan Kurland, and Larry Kurland and his wife Susan, of Warren, NJ. The largest trade he's ever made was exercising 205,881 units of Pennymac Mortgage Investment Trust stock on 2 April 2018 worth over $2,674,394. Search their Arrest Records, Driving Records, Contact Information, Photos and More 1) Stanford Kurland's Phone & Current Address As president of Countrywide America's largest mortgage lender until its crash last year Kurland helped devise and mass-market the dodgy mortgages that helped get us into this mess, says The Independent. Part of HuffPost Business. Dr. David A. Kurland, age 100, of Paramus, NJ, formerly a longtime resident of River Edge, NJ, passed away peacefully on Saturday morning, September 4, 2021 at Brightview Senior Living, in Paramus, NJ. Feb 19, 2023. In the past year, though, PennyMac has morphed into something that more resembles Countrywide. "You could say he's brilliant," says Charles Laurence on The First Post: few have shown such agility in exploiting first boom, then bust. Taylor thinks PennyMac and firms like it could help. Last month, PennyMac (PMT), a finance company run almost entirely by alumni of Countrywide Financial, opened its first retail branch. The price paid by Kurland is an avalanche of rage. And in other cases, the loan processors provided those false wage figures themselves for what's now known as liar loans. The entire PennyMac community mourns the loss of Mr. Kurland, an esteemed industry leader, visionary and friend. Stanford L. Kurland began his professional career in public accounting in 1975 at Grant Thornton, formerly known as Alexander Grant. Search Details, View Stanford's Profiles on Facebook and 60+ Networks, stanford****@gmail, View Stanford's Profiles on Facebook and 60+ Networks, stanford****@yahoo, View Stanford's Profiles on Facebook and 60+ Networks, stanford****@hotmail, View Stanford's Profiles on Facebook and 60+ Networks, stanford****@aol, View Stanford's Profiles on Facebook and 60+ Networks, stanford****@outlook. Either way, PennyMacs current investors dont seem to be bothered by Kurland and his teams past, or by the companys complicated structure. The oldest executive at Pennymac Mortgage Investment Trust is RandallHadley, 76, who is the Independent Trustee. PennyMac has been around for a couple of years. On average, Stanford trades about 28,493 units every 38 days since 2009. Suddenly, no one knew the value of the "bundles," because each contained an unknown number of good and bad mortgages. He retired from day-to-day management in early 2020. The voting interests of Blackrock and Stanford Kurland in PennyMac Financial Services are 22 percent and 11 percent, respectively, which differs from their reported beneficial ownership of Class A common stock because of a dual-class share structure. PennyMac Mortgage Investment Trust is a mortgage real estate investment trust (REIT) that invests primarily in residential mortgage loans and mortgage-related assets. Last updated: 22 January 2021 at 7:06pm EST. So when PennyMac finances those loans $1.6 billion in July and August alone the public REIT passes them along to a private division of the company, which is owned and operated by PennyMacs executives and its two outside investors, asset manager Blackrock and private equity firm Highfields Capital. Required fields are marked *. ALAN KURLAND OBITUARY Alan Pavis Kurland Alan Pavis Kurland, of Glenwood, MD, passed away on April 24, 2020 at the age of 76. Mr. Kurland owns over 31,000 units of Pennymac Mortgage Investment Trust stock worth over $99,479,619 and over the last 14 years he sold PMT stock worth over $52,390,589. Still, he's "not hurting", says The Huffington Post. Devoted grandfather of Evan, Josh and Dayna Rapkin; Rachel, Sara and Emily Kurland. WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)--PennyMac Financial Services, Inc. (NYSE: PFSI) today announced the passing of the companys founder and Non-Executive Chairman Stanford L. Kurland. Our Manager, our Servicer, and PNMAC are controlled subsidiaries of PFSI. While acknowledging such prodigal-neighbor-resentment, I am giving the award this week to a much more malevolent, seriously more depraved subprime creep: Stanford L. Kurland. As the Non-Executive Chairman of the Trustee of Pennymac Mortgage Investment Trust, the total compensation of Stanford Kurland at Pennymac Mortgage Investment Trust is $15,070,800. On average, Stanford trades about 28,493 units every 38 days since 2009. As of September 30, 2020, PennyMac Financial serviced loans totaling $402 billion in unpaid principal balance, making it the seventh largest mortgage servicer in the nation. The set includes leaders who can perform five different organizational tasks or functions, including: 1. On average, Stanford trades about 28,493 units every 38 days since 2009. Under his leadership, PennyMac became one of the largest residential mortgage lenders and servicers in the U.S. and now employs over 6,000 people across the country. Beloved husband of the late Miriam Kurland. He spent 27 years at Countrywide Financial Corporation in various executive positions including Chief Financial Officer, then President and Chief Operating Officer until his departure from Countrywide in 2006. PennyMacs odd corporate structure has worried some Wall Street analysts. He used some of that money to set up a new company: PennyMac. Mr. Kurland has been a member of our Board since our formation in May 2009 and has been our Executive Chairman since January 2017. In the event, Countrywide staggered on for a year, chalking up billions in losses before it was rescued by Bank of America last July. You can see the complete history of Mr. Kurland stock trades at the bottom of the page. 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