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» LENDER/SERVICER PROFILE VISIT US ONLINE @ DSNEWS.COM ONE2WATCH PennyMac Loan Services key personnel company vitals Stanford Kurland Founder, Chairman, and CEO Headquarters: Moorpark, California Take a look inside the numbers Phone: 866.549.3583 David Spector s tat e s s e r v ic e d* Online: PennyMacUSA.com Chief Investment Officer Steve Bailey Chief Servicing Officer Staffing » Servicing staff: 151 » Servicing sites: 5 servicing summary * Portfolio Stats PennyMac Loan Services is a wholly-owned subsidiary of Private National Mortgage Acceptance Co., LLC. (PennyMac). It provides a high-touch lending and servicing platform that allows the company to fully implement the portfolio strategies developed by its investment arm, PNMAC Capital Management. The PennyMac companies together comprise a specialty financial services firm, founded in 2008 to address the dislocations in the U.S. mortgage market. PennyMac's current focus is on investing in and managing nonperforming mortgage assets. PennyMac Loan Services' operations include primary servicing, special servicing, and origination and fulfillment to underwrite loan modifications, refinance mortgage customers, and provide buyer-financing on short sales and REO properties. California 28% Portfolio Growth Unpaid Principal Balance (UPB) » 2012: $12.2B » 2011: $495M » Annual Change: +2358% MSRs: » 2012: $127M » 2011: $6M » Annual Change: +2013% Recent Acquisitions » Distressed whole loan purchases in Q4 2012: $290M (UPB) » Acquisition price to UPB in Q4 2012: 45% on average » Additional nonperforming loan purchases in Q1 2013 (as of beginning of February): $173M (UPB) REO Stats » Average days in REO: 77 for prime; 162 for Alt-A *As of Q4 2012 servicing philosophy "PennyMac's mission is to keep borrowers in their homes while providing attractive risk-adjusted returns to our investors over the long term. In service of this mission, we aim to develop loan programs that avoid foreclosure by directly addressing both the borrower's willingness and ability to pay their mortgages." company's l atest February 1, 2013 PennyMac Loan Services Has Fast Become the Largest Employer in Moorpark Headquartered in Moorpark, PennyMac is a family of companies that provides a full range of mortgage services, which include a registered investment advisor that manages a REIT and other private vehicles that invest in troubled mortgages and a best-in-class loan servicing operation that works with borrowers to stay in their homes. PennyMac has designed a new, more comprehensive business model that addresses the problems in the mortgage industry and provides a more sustainable business for the future that aligns the interests of consumers, investors and the public. —ConejoValleyGuide.com August 17, 2012 PennyMac Announces Pricing of 15M Shares PennyMac Mortgage Investment Trust announced Friday that it has priced 15 million common shares for public offering. According to a company release, PennyMac will use proceeds from the offering to fund a portion of the purchase price for a portfolio of residential mortgage loans, to fund the continued growth of its lending business, to acquire additional mortgage loans, and for general use. Bank of America, Merrill Lynch, Citigroup, and Credit Suisse Securities are acting as the underwriters for the offering. The company stated underwriters have a 30-day option from the date of the offering to purchase up to an additional 2,250,000 shares. PennyMac Mortgage Investment Trust serves as a mortgage real estate investment trust (REIT) that invests primarily in residential mortgage loans and mortgage-related assets. —DSNews.com key technology Servicing: LPS' Mortgage Servicing Package (MSP) REO Management: RES.NET servicer r atings Moody's Investors Service: Primary Servicer of Prime Loans » SQ3- Source: PennyMac 7% Florida 6% Illinois » Residential servicing portfolio: $12.2B (UPB) New York 4% New Jersey 3% *As of Q3 2012 REO Concentration— Top 5 States* California, Florida, Connecticut, Washington, Illinois *As of Q3 2012 2013 str ategy PennyMac's loss mitigation strategy is to pursue loss mitigation alternatives as aggressively as possible, and once it has exhausted home retention options, to promote foreclosure as expeditiously as possible. It includes loss mitigation throughout the process, from collections to foreclosure sale. stat insight $4 Billion PennyMac's target for monthly correspondent acquisitions by December 2013. Source: PennyMac Sources: PennyMac Loan Services (1/27/2013), Moody's Investors Service (9/6/2012) 85