PennyMac Financial Services, Inc. Opens New Office In Arizona Creating Hundreds Of Jobs In The State's Capital

PHOENIX, AZ (April 6, 2021) — PennyMac Financial Services, Inc. (NYSE: PFSI) (PennyMac), one of the largest publicly-traded residential mortgage companies in the country, announced today the opening of a new mortgage sales and operations center in Phoenix, Arizona.

Located in the heart of Phoenix, with more than 70,000 square feet, the office building will support PennyMac’s origination and fulfillment divisions, while bolstering company-wide growth efforts. Named a top three lender by Inside Mortgage Finance, the company is actively looking to hire nearly 375 Loan Officers, Underwriters, Home Loan Specialists, Technology professionals, and more to staff its Phoenix office.

“PennyMac holds a strong position within the mortgage industry because of the breadth of services that we provide to our extensive customer base,” said Doug Jones, President and Chief Mortgage Banking Officer of PennyMac. “Our innovative work-flow combined with the strong talent available in Phoenix will allow us to recruit top performers and provide industry leading customer service.”

Throughout the COVID-19 pandemic, PennyMac has increased hiring efforts to address the elevated demand for mortgage originations. The company’s development provides needed services to customers and extensive growth opportunities for employees too.

PennyMac’s steadfast business model casts a national footprint leading to stable and successful growth. The company currently services nearly 2 million customers and its Arizona expansion will continue to draw in more talent to meet its growth objectives.

“The selection of Arizona by another major financial services company like PennyMac further enhances Arizona's reputation as a hub for the financial services industry, and the best place for business,” said Governor Doug Ducey. “We thank PennyMac for investing in our state and creating hundreds of jobs for our citizens.”

PennyMac currently operates nationwide with a dedicated workforce of over 6,000 employees. By the end of 2020, the company’s annual hires totaled over 2,000 and it is expecting that number to continue to grow substantially throughout 2021.

“Arizona is very proud to welcome industry leader PennyMac Financial Services to our state,” said Sandra Watson, President & CEO of the Arizona Commerce Authority. “This project will bring hundreds of new high-value career opportunities to Arizona, which is already home to the second-largest concentration of financial services jobs in the nation.”

PennyMac is looking to attract talent from the large population of veterans and their families residing in Arizona. The company proudly employs service members and their families, and has received the Military Friendly® Employer designation for five years in a row. PennyMac is an equal opportunity employer and is committed to attracting, developing and engaging an increasingly diverse workforce that reflects the communities where we live and serve.

While PennyMac is pushing progress and contributing to the stability of the economy, the organization remains focused on keeping employees, shareholders and the community safe during the pandemic. As such, the company has enacted its remote workforce protocol and is ensuring that health and wellbeing come first, while still expanding to meet the demands of the nation’s economic state.

Media Contact

Janis Allen, PennyMac, [email protected]

Patrick Ptak, Arizona Commerce Authority, [email protected]

About PennyMac Financial Services, Inc.

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.
Founded in 2008, the company is recognized as a leader in the U.S. residential mortgage industry and employs over 6,000 people across the country. For the twelve months ended December 31, 2020 PennyMac Financial’s production of newly originated loans totaled $197 billion in unpaid principal balance, making it the third largest mortgage lender in the nation. As of December 31, 2020, PennyMac Financial serviced loans totaling $427 billion in unpaid principal balance, making it a top ten servicer of loans in the nation. Additional information about PennyMac Financial Services, Inc. is available at ir.pennymacfinancial.com.

About the Arizona Commerce Authority

The Arizona Commerce Authority (ACA) is the state's leading economic development organization with a streamlined mission to grow and strengthen Arizona's economy. The ACA uses a three-pronged approach to advance the overall economy: attract, expand, create - attract out-of-state companies to establish operations in Arizona; work with existing companies to expand their business in Arizona and beyond; and help entrepreneurs create new Arizona businesses in targeted industries. For more information, please visit azcommerce.com and follow the ACA on Twitter at @azcommerce.