Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice| Do Not Sell/Share My Personal Information| Ad Choices To ensure the most secure and best overall experience on our website we recommend the latest versions of, Internet Explorer is no longer supported. PennyMac, though, doesnt seem to be hiding its lending operations from potential customers. PennyMac Mortgage Investment Trust is a mortgage real estate investment trust (REIT) that invests primarily in residential mortgage loans and mortgage-related assets. See Stan Kurland's compensation, career history, education, & memberships. "You could say he's brilliant," says . 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. He was 68. On average, Pennymac Mortgage Investment Trust executives and independent directors trade stock every 16 days with the average trade being worth of $70,951. In addition, he makes $15,070,800 as Non-Executive Chairman of the . The center tried to stop abusive lending by the likes of Countrywide, which during the heyday of sub-prime was the largest mortgage lender in the nation but in the past nine months has been sued by several states contending it defrauded borrowers by hawking defective mortgages that quickly went to foreclosure. On average, Stanford trades about 28,493 units every 38 days since 2009. 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. So far it appears to be working. 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. Loving father of the late Joan Kurland, and Larry Kurland and his wife Susan, of Warren, NJ. Copyright 2023 PeekYou.com. Stanford L. Kurland serves as Non-Executive Chairman of the Trustee of the Company. (801) 969-3456. 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. Based in the same Los Angeles suburb where Countrywide once flourished, Stanford has also hired at least a dozen top Countrywide executives to man the firm, which is backed by BlackRock and hedge-fund Highfields Capital. Last updated: 22 January 2021 at 7:06pm EST. Card companies keep low rates for themselves, The housing pick up wont produce much economic growth, Young workers earn $10,000 less than in 2005, LinkedIn has officially entered its cringe era, and its working. 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. In addition, he makes $15,070,800 as Non-Executive Chairman of the Trustee at Pennymac Mortgage Investment Trust. - Salt Lake City, 6500 S Redwood Rd, Stanford Lee Kurland Age 68 Born Wednesday 11 Jun 1952 Died 24 Jan 2021 (ca.) 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. But the cycle of mortgaging is costing taxpayers 62 cents on the dollar. Kurland definitely has aspirations to grow the company into something that is substantial and in the end will probably look something like Countrywide, says Widner, who rates PennyMac a hold. Alan was a man of many talents, from acting to directing to. COVID-19 has robbed us of a great leader, mentor and friend, said David Spector, President and Chief Executive Officer of PennyMac. Our Manager, our Servicer, and PNMAC are controlled subsidiaries of PFSI. The company is using direct mail to solicit customers. Stanford's mailing address filed with the SEC is C/O PENNYMAC FINANCIAL SERVICES, INC., 3043 TOWNSGATE ROAD, WESTLAKE VILLAGE, CA, 91361. He retired from day-to-day management in early 2020. None of those Wall Street wizards who had made untold billions on this scheme had calculated a drop in the market. In the event, Countrywide staggered on for a year, chalking up billions in losses before it was rescued by Bank of America last July. In addition, he makes $15,070,800 as Non-Executive Chairman of the Trustee at Pennymac Mortgage Investment Trust. 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. There are 1 older and 20 younger executives at Pennymac Mortgage Investment Trust. 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." 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. Stanford L. Kurland serves as Non-Executive Chairman of the Trustee of the Company. Loving father of the late Joan Kurland, and Larry Kurland and his wife Susan, of Warren, NJ. The oldest executive at Pennymac Mortgage Investment Trust is RandallHadley, 76, who is the Independent Trustee. On average, Stanford trades about 28,493 units every 38 days since 2009. 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. Last updated: 22 January 2021 at 7:06pm EST. The estimated Net Worth of Stanford L Kurland is at least $169 Million dollars as of 20 January 2021. As of 20 January 2021 he still owns at least 7,564,990 units of Pennymac Mortgage Investment Trust stock. This is a guy who profited from creation of the sub-prime mortgage crisis as former president of Countrywide Financial and who is now profiting from the wreckage caused by those sub-prime mortgages - both at the expense of taxpayers. 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. You can see the complete history of Mr. Kurland stock trades at the bottom of the page. In fact, he thinks he's doing America a favour. It remains a multi-billion-dollar nightmare. Most recently he sold 31,000 units of PMT stock worth $1,883,560 on 20 January 2021. 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. 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. 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. MORE: The housing pick up wont produce much economic growth, Whats more, Chamberlain says direct lending is not a part of PennyMacs investor presentations because the division is part of the companys private operations, not its publicly traded company. Until last week, no one outside finance had heard of Stanford L. Kurland. Mr. Kurland has been a member of our Board since our formation in May 2009 and has been our Executive Chairman since January 2017. Stanford L Kurland "Stan" Deceased, Pennymac Mortgage . Kurland had also been battling. But to others, he's a "subprime creep". The prey was that guy in the bungalow next door. Stanford Kurland is 67, he's been the Non-Executive Chairman of the Trustee of Pennymac Mortgage Investment Trust since 2020. Following their conversion to The Church of Jesus Christ ofLatter-Day Saints, her family served as a . A recent analysis by the Wall Street Journal found that Countrywide has cost Bank of America, which acquired the giant mortgage lender in 2008, nearly $40 billion in additional costs since the deal was completed, much of it due to subprime and other high-risk loans that Countrywide made at the height of the housing bubble that have since gone bad. Last updated: 22 January 2021 at 7:06pm EST. There are no executives at Pennymac Mortgage Investment Trust getting paid more. His storied career in mortgage banking spanned more than four decades. ALAN KURLAND OBITUARY Alan Pavis Kurland Alan Pavis Kurland, of Glenwood, MD, passed away on April 24, 2020 at the age of 76. 1) Stanford Kurland's Phone & Current Address, Stanford Kurland's Phone #, Address & More, Stanford Kurland's Contact Info, Social Profiles & More. 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 neighbor reaching for the American Dream isn't at fault. PennyMac Mortgage Investment Trust announced that company founder and Non-Executive Chairman Stanford Kurland died at age 68 due to complications from COVID-19. 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 . 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