Stanford L. Kurland serves as Non-Executive Chairman of the Trustee of the Company. 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. Now he's back. By continuing to use our site, you consent to the placement of cookies on your browser and agree to the terms of our Privacy Policy. His storied career in mortgage banking spanned more than four decades. Stanford's mailing address filed with the SEC is C/O PENNYMAC FINANCIAL SERVICES, INC., 3043 TOWNSGATE ROAD, WESTLAKE VILLAGE, CA, 91361. 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. "It is very important to the entire team here to be part of the solution.". 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. The estimated Net Worth of Stanford L Kurland is at least $174 Milion dollars as of 20 January 2021. Most recently he sold 31,000 units of PMT stock worth $1,883,560 on 20 January 2021. Mr. Kurland holds a BS from California State University, Northridge. One of his early assignments was at a mortgage bank called Countrywide Credit Industries and its operating subsidiary Countrywide Acceptance Company. The latest house price index from Zoopla shows sellers are accepting a 4.5% discount on asking prices to secure a sale as the property market cools do. 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 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. He says the Pasadena office is not for walk-ins. 2 executive before leaving in 2006, PennyMacs stated business plan was to buy up delinquent mortgage loans on the cheap, offer modifications and make some money in the process. Creating the vision , 2. 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. The entire PennyMac community mourns the loss of Mr. Kurland, an esteemed industry leader, visionary and friend. But when it was started in 2008 by a dozen former executives of Countrywide, including Stanford Kurland, who was Countrywides No. It is buying distressed mortgages so cheaply that it can offer attractive repayment terms to struggling homeowners, thereby collecting the repayments or getting the house in event of foreclosure. Alan was a man of many talents, from acting to directing to. You can see the complete history of Mr. Kurland stock trades at the bottom of the page. Mr. Kurland owns over 31,000 units of Pennymac Mortgage Investment Trust stock worth over $113,020,951 and over the last 13 years he sold PMT stock worth over $52,390,589. Stanford has made over 52 trades of the Pennymac Mortgage Investment Trust stock since 2013, according to the Form 4 filled with the SEC. It doesnt hurt that PennyMac has a 9.3% dividend yield at a time when investment income is hard to come by. "What did Stanford Kurland know?" All Rights Reserved. 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. 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. But here's the thing, when Countrywide sold him on that loan, he just didn't understand it. In December, Bank of America agreed to pay $335 million to settle charges that Countrywide loan officers regularly charged minority borrowers higher rates and fees than those paid by similar white borrowers. He retired from day-to-day management in early 2020. Until last week, no one outside finance had heard of Stanford L. Kurland. Stanford Kurland is 67, he's been the Non-Executive Chairman of the Trustee of Pennymac Mortgage Investment Trust since 2020. Last updated: 22 January 2021 at 7:06pm EST. On average, Pennymac Mortgage Investment Trust executives and independent directors trade stock every 16 days with the average trade being worth of $70,951. Yet, with some predicting that the Bank may take a further $33bn hit from the purchase, evidence suggests it's Kurland's outfit PennyMac that will actually benefit, says The New York Times. - Salt Lake City, 6500 S Redwood Rd, Stanford L. Kurland. Yet now he's public enemy number one in the US press and blogging world. Youve done this before.. A Patent Pending People Search Process. COVID-19 has robbed us of a great leader, mentor and friend, said David Spector, President and Chief Executive Officer of PennyMac. MORE: Card companies keep low rates for themselves, Theres free money on the table and you dont have to work that hard to get it, especially if you are the former executives of Countrywide, says Michael Widner, an analyst who covers PennyMac at brokerage firm Stifel Nicolaus. " I am deeply saddened to share the news of Stan's passing. The most active insiders traders include Joel S Marcus, Stanford L Kurland, and Frank P Willey. Check out these 10 holiday destinations which remain cheap despite rising inflation. To meet those aspirations, Kurland has recruited many of the same executives who helped him build Countrywide into a mortgage behemoth. Powered and implemented by Interactive Data Managed Solutions. That wasn't supposed to happen. 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. Looking to get away but want to keep costs low? In addition, he makes $15,070,800 as Non-Executive Chairman of the . The companys website advertises new home loans with rates as low as 3.5%, and has an 800-number to call. 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. 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. "You could say he's brilliant," says . Many couldn't care less about PennyMac's history all that matters, says one customer, "is that we know our house is secure and our credit is safe". A number of analysts who follow the company were unaware of it. Are housebuilder stocks looking cheap for dividend yields? Prior thereto, he had been our chairman of the board and chief executive officer from May 2009 through December 2016. Our main chapel seats over 400 and we accommodate both New Jersey, New York cemeteries, and burials in Israel. In the past year, though, PennyMac has morphed into something that more resembles Countrywide. And for that scam, far more than any poor homeowner, he richly deserves the Creep of the Week Award. Stanford has made over 52 trades of the Pennymac Mortgage Investment Trust stock since 2013, according to the Form 4 filled with the SEC. FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. 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." PennyMac Mortgage Investment Trust is a mortgage real estate investment trust (REIT) that invests primarily in residential mortgage loans and mortgage-related assets. Yes, some applicants lied about their income to qualify for loans, but often that was encouraged by loan processors, who made money on each loan they sold. Proud grandfather of Jennifer, and her husband Geoff, Adam and Kyle. Terms & Conditions. 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. On average, Stanford trades about 28,493 units every 38 days since 2009. During his tenure at the company, Countrywide grew from just over $1 million dollars in market capitalization to a leading financial services firm with over $25 billion in market value. It's giving a blatant V-sign to the American taxpayer but Kurland doesn't care. 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. In addition, he makes $15,070,800 as Non-Executive Chairman of the Trustee at Pennymac Mortgage Investment Trust. Investors 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 Creep of the Week: PennyMac's Stanford L. Kurland. The Westlake Village, California-based company said. 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. Stanford L. Kurland serves as Non-Executive Chairman of the Trustee of the Company. S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. I am deeply saddened to share the news of Stans passing. Mr. Kurland owns over 31,000 units of Pennymac Mortgage Investment Trust stock worth over $106,742,009 and over the last 13 years he sold PMT stock worth over $52,390,589. So its perhaps no surprise that one of the first firms to rush into this profit-filled fun house is headed by the former executives of the most notorious subprime lender of the era that led to the financial crisis. That's from Margo Saunders, a lawyer with the National Consumer Law Center. 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. sympathy store. Still, he's "not hurting", says The Huffington Post. Visit our corporate site www.futureplc.com Future Publishing Limited, Quay House, The Ambury, Bath BA1 1UA. Our Manager, our Servicer, and PNMAC are controlled subsidiaries of PFSI. COVID-19 . Mr. Kurland holds a BS from California State University, Northridge. But with the stock what you are getting is a subdivision of the company., MORE: Young workers earn $10,000 less than in 2005. You can see the complete history of Mr. Kurland stock trades at the bottom of the page. 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. The neighbor reaching for the American Dream isn't at fault. On average, Stanford trades about 28,493 units every 38 days since 2009. Mr. Kurland holds a BS from California State University, Northridge. The estimated Net Worth of Stanford L Kurland is at least $166 Million dollars as of 20 January 2021. Publish your loved ones obituary in any newspaper andLegacy.com. In addition, he makes $15,070,800 as Non-Executive Chairman of the . Stanford's mailing address filed with the SEC is C/O PENNYMAC FINANCIAL SERVICES, INC., 3043 TOWNSGATE ROAD, WESTLAKE VILLAGE, CA, 91361. As of 20 January 2021 he still owns at least 7,564,990 units of Pennymac Mortgage Investment Trust stock. Profile of Kwasi Kwarteng, the leading light of the Tory right, Yvon Chouinard: The billionaire dirtbag who's giving it all away, Johann Rupert: the Warren Buffett of luxury goods, Profile: the fall of Alvin Chau, Macaus junket king, UK home sellers cut 14,000 off their asking prices as the buyers market returns. Chamberlain says the firm has no plans to make subprime loans. 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. Part of HuffPost Business. The set includes leaders who can perform five different organizational tasks or functions, including: 1. Outdoor-equipment retailer Yvon Chouinard is the latest in a line of rich benefactors to shun personal aggrandisement in favour of worthy causes. "Greed," as one well-placed lawyer remarks, "is a growth industry." Mr. Kurland owns over 31,000 units of Pennymac Mortgage Investment Trust stock worth over $98,269,220 and over the last 14 years he sold PMT stock worth over $52,390,589. Taxpayers provided $700 billion to prop them up - including Bank of America, after it bought the financially-sputtering Countrywide. He was 68. We look at Taylor Wimpey, Persimmon and Barratt Developments. But it was under his watch that the predatory practice of peddling 'teasers' (whereby low-income customers were seduced into taking huge mortgages by low 'introductory' interest payments that quickly ballooned) really got going. These are not the type of people I want to have over my house for dinner, says Taylor. But to others, he's a "subprime creep". As of 20 January 2021 he still owns at least 7,564,990 units of Pennymac Mortgage Investment Trust stock. You may not use our site or service, or the information provided, to make decisions about employment, admission, consumer credit, insurance, tenant screening or any other purpose that would require FCRA compliance. Stanford Kurland is 67, he's been the Non-Executive Chairman of the Trustee of Pennymac Mortgage Investment Trust since 2020. Mr. Kurland died from complications related to COVID-19 and had been battling brain cancer. Mr. Kurland began his professional career in 1975 in public accounting, practicing as a CPA for the firm now known as Grant Thornton. 8 records for Stanford Kurland. 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.. 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