The most recent stock trade was executed by Scott W. Carnahan on 22 February 2023, trading 1,786 units of PMT stock currently worth $24,093. Mr. Kurland has been a member of our Board since our formation in May 2009 and has been our Executive Chairman since January 2017. That's from Margo Saunders, a lawyer with the National Consumer Law Center. In fact, his "excellent adventure" is going so well that PennyMac, which already holds $800m in home loans, expects the figure to rise to $15bn within 18 months. None of those Wall Street wizards who had made untold billions on this scheme had calculated a drop in the market. Visit our corporate site www.futureplc.com Future Publishing Limited, Quay House, The Ambury, Bath BA1 1UA. On average, Stanford trades about 28,493 units every 38 days since 2009. In the past year, though, PennyMac has morphed into something that more resembles Countrywide. 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. 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. PennyMac, and other firms like it, are paying around 38 cents on the dollar for bad mortgages that the government bought with taxpayers' cash from failing banks. Part of HuffPost Business. Our main chapel seats over 400 and we accommodate both New Jersey, New York cemeteries, and burials in Israel. Investors Taxpayers provided $700 billion to prop them up - including Bank of America, after it bought the financially-sputtering Countrywide. PennyMac runs a public mortgage REIT, but not all of the companys business and profits go to the REIT. Terms & Conditions. As of 20 January 2021 he still owns at least 7,564,990 units of Pennymac Mortgage Investment Trust stock. Mr. Kurland holds a BS from California State University, Northridge. Your email address will not be published. Stanford L. Kurland began his professional career in public accounting in 1975 at Grant Thornton, formerly known as Alexander Grant. Ultimately, it was the banks that weren't requiring income verification or any income information at all. Outdoor-equipment retailer Yvon Chouinard is the latest in a line of rich benefactors to shun personal aggrandisement in favour of worthy causes. The real loser, says The Huffington Post, is the US taxpayer. The entire PennyMac community mourns the loss of Mr. Kurland, an esteemed industry leader, visionary and friend. 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 served as the chief executive officer of Private National Mortgage Acceptance Company, LLC, or PNMAC, from May 2013 through December 2016, and, prior thereto, served as chairman of the board and chief executive officer from founding the company in January 2008 to May 2013. Stanford Kurland is 67, he's been the Non-Executive Chairman of the Trustee of Pennymac Mortgage Investment Trust since 2020. Prior thereto, he had been our chairman of the board and chief executive officer from May 2009 through December 2016. He was a genuine and gracious person to anyone he crossed paths with and he cherished his family and friends. 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 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. Her Other Children Stanford Kurland Bio Details You can see the complete history of Mr. Kurland stock trades at the bottom of the page. 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. Most recently he sold 31,000 units of PMT stock worth $1,883,560 on 20 January 2021. He cashed out of Countrywide before its stock tanked, taking $200 million with him. 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. He says the Pasadena office is not for walk-ins. Most recently he sold 31,000 units of PMT stock worth $1,883,560 on 20 January 2021. Most recently he sold 31,000 units of PMT stock worth $1,883,560 on 20 January 2021. Stanford has made over 52 trades of the Pennymac Mortgage Investment Trust stock since 2013, according to the Form 4 filled with the SEC. Mr. Kurland holds a BS from California State University, Northridge. On average, Stanford trades about 28,493 units every 38 days since 2009. Stanford has made over 52 trades of the Pennymac Mortgage Investment Trust stock since 2013, according to the Form 4 filled with the SEC. But the cycle of mortgaging is costing taxpayers 62 cents on the dollar. Or this, in a Times story by Eric Lipton: "It is sort of like the arsonist who sets fire to the house and then buys up the charred remains and resells it." 6500 S Redwood Rd, Salt Lake City, Utah , 84123. Prior to the formation of PNMAC, Mr. Kurland served as a director and, from January 1979 to September 2006, held several executive positions, including president, chief financial officer and chief operating officer, at Countrywide Financial Corporation, or Countrywide, a diversified financial services company. Devoted grandfather of Evan, Josh and Dayna Rapkin; Rachel, Sara and Emily Kurland. S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. Mr. Kurland holds a BS from California State University, Northridge. Memorial Redwood Mortuary & Cemetery But his trials are not o, Alvin Chau made a fortune catering for Chinese gamblers as the authorities turned a blind eye. . The set includes leaders who can perform five different organizational tasks or functions, including: 1. Search Details, Stanford Kurland's Contact Info, Social Profiles & More Stanford's mailing address filed with the SEC is C/O PENNYMAC FINANCIAL SERVICES, INC., 3043 TOWNSGATE ROAD, WESTLAKE VILLAGE, CA, 91361. Prior thereto, he had been our chairman of the board and chief executive officer from May 2009 through December 2016. The estimated Net Worth of Stanford L Kurland is at least $177 Million dollars as of 20 January 2021. "Stan leaves an indelible mark not only on PennyMac, but on the mortgage industry he helped to build and shape. Ever since President Obama announced his plan to forestall foreclosures, many of those lucky enough to have burned their mortgages have angrily suggested that less frugal homeowners get the Creep of the Week award. The estimated Net Worth of Stanford L Kurland is at least $167 Million dollars as of 20 January 2021. Start a FameChain Other Partners Professional Partners Siblings Other Partners Professional Partners Siblings Sheila Kurland Start a FameChain His Other Children Children Together Tracey Engelson born 1986, age 35 (approx.) The guy in the bungalow next door may have made some mistakes. The most recent stock trade was executed by Scott W. Carnahan on 22 February 2023, trading 1,786 units of PMT stock currently worth $24,093. 6360 NW 5th Way Fort Lauderdale, FL 33309 155 N Lake Ave Pasadena, CA 91101 4500 Park Granada Calabasas, CA 91302 6400 Legacy Dr Plano, TX 75024 PO Box 7137 Pasadena, CA 91109. Prior thereto, he had been our chairman of the board and chief executive officer from May 2009 through December 2016. Prior to the formation of PNMAC, Mr. Kurland served as a director and, from January 1979 to September 2006, held several executive positions, including president, chief financial officer and chief operating officer, at Countrywide Financial Corporation, or Countrywide, a diversified financial services company. 8 records for Stanford Kurland. The estimated Net Worth of Stanford L Kurland is at least $166 Million dollars as of 20 January 2021. The firm recently paid the Federal Deposit Insurance Corporation just $43m for $560m worth of mostly delinquent loans. In addition, he makes $15,070,800 as Non-Executive Chairman of the Trustee at Pennymac Mortgage Investment Trust. 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. His storied career in mortgage banking spanned more than four decades. Prior to the formation of PNMAC, Mr. Kurland served as a director and, from January 1979 to September 2006, held several executive positions, including president, chief financial officer and chief operating officer, at Countrywide Financial Corporation, or Countrywide, a diversified financial services company. In fact, he thinks he's doing America a favour. Chamberlain says the firm has no plans to make subprime loans. Create your customplan in less than 5 minutes. A Patent Pending People Search Process. 12 Mar 2009. Mr. Kurland served as the chief executive officer of Private National Mortgage Acceptance Company, LLC, or PNMAC, from May 2013 through December 2016, and, prior thereto, served as chairman of the board and chief executive officer from founding the company in January 2008 to May 2013. 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 Suddenly, no one knew the value of the "bundles," because each contained an unknown number of good and bad mortgages. 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. It's a win-win situation. The entire PennyMac community mourns the loss of Mr. Kurland, an esteemed industry leader, visionary and friend. Now he's back. Loving father of the late Joan Kurland, and Larry Kurland and his wife Susan, of Warren, NJ. PennyMac has been more tight-lipped about its direct lending operation, which is still relatively small. Stanford's mailing address filed with the SEC is C/O PENNYMAC FINANCIAL SERVICES, INC., 3043 TOWNSGATE ROAD, WESTLAKE VILLAGE, CA, 91361. All rights reserved. For the twelve months ended September 30, 2020, PennyMac Financials production of newly originated loans totaled $170 billion in unpaid principal balance, making it the third largest mortgage lender in the nation. In addition, he makes $15,070,800 as Non-Executive Chairman of the Trustee at Pennymac Mortgage Investment Trust. 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 Beloved husband of the late Miriam Kurland. 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. He was 68. 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