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. Visit our corporate site www.futureplc.com Future Publishing Limited, Quay House, The Ambury, Bath BA1 1UA. In addition, he makes $15,070,800 as Non-Executive Chairman of the . He was 68. Search Details, Stanford Kurland's Phone #, Address & More But the cycle of mortgaging is costing taxpayers 62 cents on the dollar. Taxpayers provided $700 billion to prop them up - including Bank of America, after it bought the financially-sputtering Countrywide. 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 "Stan leaves an indelible mark not only on PennyMac, but on the mortgage industry he helped to build and shape. A number of analysts who follow the company were unaware of it. Chamberlain says the firm has no plans to make subprime loans. Publish your loved ones obituary in any newspaper andLegacy.com. There are 1 older and 20 younger executives at Pennymac Mortgage Investment Trust. Stanford Kurland was the second-most senior executive at Countrywide, the mortgage lender, until 2006 when he left, selling $200 million in stock options. None of the executives at PennyMac are directly linked to any of the alleged wrongdoing at Countrywide. That's from Margo Saunders, a lawyer with the National Consumer Law Center. "You could say he's brilliant," says . PennyMac, though, doesnt seem to be hiding its lending operations from potential customers. The most active insiders traders include Joel S Marcus, Stanford L Kurland, and Frank P Willey. The guy in the bungalow next door may have made some mistakes. 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. Stanford Kurland Mr. Kurland was 68. So far it appears to be working. 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. Stanford Kurland is 67, he's been the Non-Executive Chairman of the Trustee of Pennymac Mortgage Investment Trust since 2020. Mr. Kurland holds a BS from California State University, Northridge. The firm recently paid the Federal Deposit Insurance Corporation just $43m for $560m worth of mostly delinquent loans. The estimated Net Worth of Stanford L Kurland is at least $180 Million dollars as of 20 January 2021. by Louis | Sep 5, 2021 | past-services | 0 comments, Full Name: Dr. David A. KurlandDate of Death: Saturday, September 4, 2021. 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 unit was launched a year ago, and now accounts for about a third of the companys profits. A Patent Pending People Search Process. 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. Her Other Children Stanford Kurland Bio Details Outdoor-equipment retailer Yvon Chouinard is the latest in a line of rich benefactors to shun personal aggrandisement in favour of worthy causes. It remains a multi-billion-dollar nightmare. It's the bankers - Kurland and company - who urged dreamers to sign the dotted line knowing the loan would never work out, knowing a bank would never grant such a mortgage if it were going to remain on the books of a local institution. (801) 969-3456. Terms & Conditions. Stanford L. Kurland began his professional career in public accounting in 1975 at Grant Thornton, formerly known as Alexander Grant. 2023 BuzzFeed, Inc. All rights reserved. . The Westlake Village, California-based company said. Amelia was born on September 24, 1946 in Veracruz, Mexico toAngel & Antelma Dominguez Garcia. Mr. Kurland holds a BS from California State University, Northridge. Shares of the REIT have risen nearly 50% in the past year. PennyMac Mortgage Investment Trust is a mortgage real estate investment trust (REIT) that invests primarily in residential mortgage loans and mortgage-related assets. All rights reserved. Stanford's mailing address filed with the SEC is C/O PENNYMAC FINANCIAL SERVICES, INC., 3043 TOWNSGATE ROAD, WESTLAKE VILLAGE, CA, 91361. The price paid by Kurland is an avalanche of rage. John Taylor, who heads the National Community Reinvestment Coalition and has been a frequent critic of subprime lenders, welcomes the firm. But when it was started in 2008 by a dozen former executives of Countrywide, including Stanford Kurland, who was Countrywides No. Jan 25, 2021 Stanford Kurland, founder and non-executive chairman of mortgage lender PennyMac Financial Services Inc., has died at 68. In the past year, though, PennyMac has morphed into something that more resembles Countrywide. 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. 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. sympathy store. PennyMac has funded over $9 billion in mortgages this year, up from less than $1 billion in 2011. 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. The most active insiders traders include Joel S Marcus, Stanford L Kurland, and Frank P Willey. 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. . For about 38 cents on the dollar, PennyMac buys bad mortgages from the federal government -- which got them with taxpayer money from failing banks. He says mortgage rates have stayed frustratingly high, and that there is a huge number of borrowers who are still having trouble refinancing. Investors Last updated: 22 January 2021 at 7:06pm EST. It doesnt hurt that PennyMac has a 9.3% dividend yield at a time when investment income is hard to come by. In any newspaper and Legacy.com. The entire PennyMac community mourns the loss of Mr. Kurland, an esteemed industry leader, visionary and friend. Johann Rupert, the presiding boss of Swiss luxury group Richemont, has seen off a challenge to his authority by a hedge fund. PennyMac spokesman Kevin Chamberlain, and Countrywide alumni, says PennyMacs retail operation is focused on refinancing delinquent borrowers whose mortgages have been acquired by PennyMac into affordable loans. Prior thereto, he had been our chairman of the board and chief executive officer from May 2009 through December 2016. Most recently he sold 31,000 units of PMT stock worth $1,883,560 on 20 January 2021. Sanford Kurland December 11, 1929 - October 22, 2011 IN THE CARE OF Berkowitz-Kumin-Bookatz Memorial Chapel SANFORD "CORKY" KURLAND beloved husband of Gloria (nee Mednik). Louis Suburban Chapel is easily accessible from anywhere in the New York metropolitan area. There are no executives at Pennymac Mortgage Investment Trust getting paid more. He says the Pasadena office is not for walk-ins. 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. Most recently he sold 31,000 units of PMT stock worth $1,883,560 on 20 January 2021. 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 Banks started to fail. 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. On average, Stanford trades about 28,493 units every 38 days since 2009. Stanford L. Kurland serves as Non-Executive Chairman of the Trustee of the Company. Stan Kurland Escaped Wreckage of Countrywide Financial - WSJ News Corp is a global, diversified media and information services company focused on creating and distributing authoritative and. 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. Most recently he sold 31,000 units of PMT stock worth $1,883,560 on 20 January 2021. In the past year, a number of former Countrywide employees have come forward to say they tried to warn regulators about abusive or lax lending practices at the firm but were either silenced by their superiors, or fired. As of 20 January 2021 he still owns at least 7,564,990 units of Pennymac Mortgage Investment Trust stock. 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. But if the householder is willing to resume paying, PennyMac will slash the interest rate back to 'teaser' level. Stanford L. Kurland serves as Non-Executive Chairman of the Trustee of the Company. 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. Beloved husband of the late Miriam Kurland. All the old fogies out there with their glorious fixed-rate mortgages can call him stupid. 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. That would make the PennyMac the 12th largest mortgage lender in the country, according to trade publication Inside Mortgage Finance. Search Details, Stanford Kurland's Contact Info, Social Profiles & More Stanford Kurland is 67, he's been the Non-Executive Chairman of the Trustee of Pennymac Mortgage Investment Trust since 2020. 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. He was 68. Copyright 2023 PeekYou.com. Your email address will not be published. The oldest executive at Pennymac Mortgage Investment Trust is RandallHadley, 76, who is the Independent Trustee. Several actions against CEOs, including Kurland, are still extant. Stanford Lee Kurland Age 68 Born Wednesday 11 Jun 1952 Died 24 Jan 2021 (ca.) 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. Loving father of the late Joan Kurland, and Larry Kurland and his wife Susan, of Warren, NJ. Mortgage brokers like Kurland pushed these loans because they knew they were going to immediately dump that trash. 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. To ensure the most secure and best overall experience on our website we recommend the latest versions of, Internet Explorer is no longer supported. This post was published on the now-closed HuffPost Contributor platform. Mr. Kurland has been a member of our Board since our formation in May 2009 and has been our Executive Chairman since January 2017. Find 18 people named Stanford Kurland along with free Facebook, Instagram, Twitter, and TikTok profiles on PeekYou - true people search. Our Manager, our Servicer, and PNMAC are controlled subsidiaries of PFSI. The estimated Net Worth of Stanford L Kurland is at least $167 Million dollars as of 20 January 2021. Stan Kurland is Deceased at Pennymac Mortgage Investment. No wonder one executive describes business as "off-the-charts good". Now he is in one . Housebuilders look like cheap dividend stocks, but can investors trust them to deliver? 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 real loser, says The Huffington Post, is the US taxpayer. S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. For instance, PennyMacs mortgage REIT is not approved to sell loans to Ginnie Mae, which is the government entity that backs FHA loans. There was certainly a huge clue in the fact that, by now, executives had cashed in around $800m in share options. Creep of the Week: PennyMac's Stanford L. Kurland. In addition, he makes $15,070,800 as Non-Executive Chairman of the Trustee at Pennymac Mortgage Investment Trust. 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 . Our Manager, our Servicer, and PNMAC are controlled subsidiaries of PFSI. We encourage you to contact the funeral home to verify time and location before attending services or visitation. The predator was Stanford L. Kurland and his ilk who all profited a plenty from little guys not understanding that the low "introductory" interest rate would balloon into one that made the monthly payments completely unaffordable. "I am expecting something gigantic to break in the near future for Countrywide." The most active insiders traders include Joel S Marcus, Stanford L Kurland a Frank P Willey. Kurland, formerly the firm's auditor, joined the group in the 1970s and was generally known as the "soft-spoken" number two. Prior thereto, he had been our chairman of the board and chief executive officer from May 2009 through December 2016. 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. There are 1 older and 20 younger executives at Pennymac Mortgage Investment Trust. Then PennyMac gives homeowners the opportunity to refinance at affordable rates - perhaps rates that Kurland, as president of Countrywide, should have been offering in the first place. Stanford's mailing address filed with the SEC is C/O PENNYMAC FINANCIAL SERVICES, INC., 3043 TOWNSGATE ROAD, WESTLAKE VILLAGE, CA, 91361. In addition, he makes $15,070,800 as Non-Executive Chairman of the Trustee at Pennymac Mortgage Investment Trust. You can see the complete history of Mr. Kurland stock trades at the bottom of the page. PennyMacs odd corporate structure has worried some Wall Street analysts. PennyMac Mortgage Investment Trust is a mortgage real estate investment trust (REIT) that invests primarily in residential mortgage loans and mortgage-related assets. 13-01 Broadway (Route 4 West) Fair Lawn, NJ 07410. There are 1 older and 20 younger executives at Pennymac Mortgage Investment Trust. 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. Until last week, no one outside finance had heard of Stanford L. Kurland. Kurland, PennyMac's non-executive chairman, died. Taylor thinks PennyMac and firms like it could help. 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. Proud grandfather of Jennifer, and her husband Geoff, Adam and Kyle. His storied career in mortgage banking spanned more than four decades. 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. asked a blogger on the Irreverent Stocklist in early 2007. But his trials are not o, Alvin Chau made a fortune catering for Chinese gamblers as the authorities turned a blind eye. 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 relative anonymity is partly down to the high profile taken by his erstwhile boss, Angelo Mozilo, who founded Countrywide in 1969. 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