To ensure the most secure and best overall experience on our website we recommend the latest versions of, Internet Explorer is no longer supported. "You could say he's brilliant," says Charles Laurence on The First Post: few have shown such agility in exploiting first boom, then bust. Our Manager, our Servicer, and PNMAC are controlled subsidiaries of PFSI. None of the executives at PennyMac are directly linked to any of the alleged wrongdoing at Countrywide. . 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. Publish your loved ones obituary in any newspaper andLegacy.com. 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. On average, Stanford trades about 28,493 units every 38 days since 2009. 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. Stanford L. Kurland. The estimated Net Worth of Stanford L Kurland is at least $177 Million dollars as of 20 January 2021. Amelia was born on September 24, 1946 in Veracruz, Mexico toAngel & Antelma Dominguez Garcia. 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. 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). Mr. Kurland died from complications related to COVID-19 and had been battling brain cancer. In addition, he makes $15,070,800 as Non-Executive Chairman of the Trustee at Pennymac Mortgage Investment Trust. As of September 30, 2020, PennyMac Financial serviced loans totaling $402 billion in unpaid principal balance, making it the seventh largest mortgage servicer in the nation. 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. 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 . COVID-19 . His storied career in mortgage banking spanned more than four decades. 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. Banks started to fail. January 25, 2021 Stanford Kurland, who founded and served as Chairman of PennyMac Financial Services Inc., Westlake Village, Calif., following a multi-decade career at Countrywide Financial Corp., passed away on Jan. 25. Alan was a man of many talents, from acting to directing to. Proud grandfather of Jennifer, and her husband Geoff, Adam and Kyle. 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. Stanford Kurland Death - Dead, Obituary, Funeral, Cause Of Death, Passed Away: On February 24th, 2021, InsideEko Media learned about the death of Stanford Kurland through social media publications. 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. The unit was launched a year ago, and now accounts for about a third of the companys profits. The estimated Net Worth of Stanford L Kurland is at least $169 Million dollars as of 20 January 2021. 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.. Mortgage brokers like Kurland pushed these loans because they knew they were going to immediately dump that trash. In fact, he thinks he's doing America a favour. All Rights Reserved. England and Wales company registration number 2008885, Kwasi Kwarteng, who studied 17th-century currency policy for his doctoral thesis, has always had a keen interest in economic crises. 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. Prior thereto, he had been our chairman of the board and chief executive officer from May 2009 through December 2016. But competition is good.. The companys website advertises new home loans with rates as low as 3.5%, and has an 800-number to call. In the event, Countrywide staggered on for a year, chalking up billions in losses before it was rescued by Bank of America last July. Isaac Garden 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". Search address history, phone, age and more. Mr. Kurland holds a BS from California State University, Northridge. 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. He escaped in time to cash in a personal $200m worth of shares. But his trials are not o, Alvin Chau made a fortune catering for Chinese gamblers as the authorities turned a blind eye. Stanford Kurland is 67, he's been the Non-Executive Chairman of the Trustee of Pennymac Mortgage Investment Trust since 2020. Shares of the REIT have risen nearly 50% in the past year. Subscribe to MoneyWeek now and get your first six magazine issues absolutely FREE. In dozens of cases, PennyMac moves to initiate foreclosure. PennyMac Mortgage Investment Trust is a mortgage real estate investment trust (REIT) that invests primarily in residential mortgage loans and mortgage-related assets. Mr. Kurland holds a BS from California State University, Northridge. Our Manager, our Servicer, and PNMAC are controlled subsidiaries of PFSI. Mr. Kurland has been a member of our Board since our formation in May 2009 and has been our Executive Chairman since January 2017. Kevin Chamberlain Stanford Kurland, who went from being pushed out of the No. 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. That would make the PennyMac the 12th largest mortgage lender in the country, according to trade publication Inside Mortgage Finance. Until last week, no one outside finance had heard of Stanford L. Kurland. 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. Stanford L. Kurland serves as Non-Executive Chairman of the Trustee of the Company. Search Details, Stanford Kurland's Contact Info, Social Profiles & More Loving father of Dr. Susan Kurland (Dr. David) Rapkin and Kenneth (Amanda) Kurland. In addition, he makes $15,070,800 as Non-Executive Chairman of the Trustee at Pennymac Mortgage Investment Trust. Looking for Stanford Kurland? Mr. Kurland began his professional career in 1975 in public accounting, practicing as a CPA for the firm now known as Grant Thornton. But when it was started in 2008 by a dozen former executives of Countrywide, including Stanford Kurland, who was Countrywides No. Last updated: 22 January 2021 at 7:06pm EST. Stanford L Kurland "Stan" Deceased, Pennymac Mortgage . These loans became that oxymoron: "toxic assets." 2 job at Countrywide Financial to founding the pair of publicly traded companies known as PennyMac, has died at 68. But PennyMac is part of the solution. Prior thereto, he had been our chairman of the board and chief executive officer from May 2009 through December 2016. Unlike Mozilo and other high-ranking Countrywide executives, Kurland was not charged with fraud by the Securities and Exchange Commission. "You could say he's brilliant," says . Mr. Kurland died from complications related to COVID-19 and had been battling brain cancer. The real loser, says The Huffington Post, is the US taxpayer. 2023 Fortune Media IP Limited. (818) 264-4907, Internet Explorer presents a security risk. To head the office, PennyMac has tapped Stephen Brandt, who, according to a Congressional report released in July, ran Countrywides Friends of Angelo program. 2023 BuzzFeed, Inc. All rights reserved. In the past year, though, PennyMac has morphed into something that more resembles Countrywide. The entire PennyMac community mourns the loss of Mr. Kurland, an esteemed industry leader, visionary and friend. That's from Margo Saunders, a lawyer with the National Consumer Law Center. Still, he's "not hurting", says The Huffington Post. Most recently he sold 31,000 units of PMT stock worth $1,883,560 on 20 January 2021. PennyMac, though, doesnt seem to be hiding its lending operations from potential customers. 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 estimated Net Worth of Stanford L Kurland is at least $174 Milion dollars as of 20 January 2021. 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. 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. Creating the vision , 2. Then companies like AIG sold insurance on them. He was 68. Part of HuffPost Business. Our Manager, our Servicer, and PNMAC are controlled subsidiaries of PFSI. 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. Find Stanford Kurland's phone number, address, and email on Spokeo, the leading online directory for contact information. Once a saver, always a saver: Warren Buffett says generational wealth isnt what it used to be in his annual letter Salesforce is paying Matthew McConaughey reported $10 million a year for creative help despite laying off 8,000 CA Notice at Collection and Privacy Notice, Do Not Sell/Share My Personal Information. Yet now he's public enemy number one in the US press and blogging world. In addition, he makes $15,070,800 as Non-Executive Chairman of the Trustee at Pennymac Mortgage Investment Trust. FORTUNE may receive compensation for some links to products and services on this website. 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. Under his leadership, PennyMac became one of the largest residential mortgage lenders and servicers in the U.S. and now employs over 6,000 people across the country. Last updated: 22 January 2021 at 7:06pm EST. In recent investor presentations, Kurland and other PennyMac executives have talked up the companys unit that finances new mortgage loans made by outside brokers and small banks. 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. Beloved husband of the late Miriam Kurland. Investors As of 20 January 2021 he still owns at least 7,564,990 units of Pennymac Mortgage Investment Trust stock. PennyMac CEO Stanford Kurland, who spent most of career at Countrywide, is recreating his old firm. PennyMac Mortgage Investment Trust announced that company founder and Non-Executive Chairman Stanford Kurland died at age 68 due to complications from COVID-19. . 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 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. There are 1 older and 20 younger executives at Pennymac Mortgage Investment Trust. 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. The REIT makes a small fee, just 0.03%, on those deals and the private entity pockets the rest, which is the bulk of the profits. Stanford Kurland Mr. Kurland was 68. Terms & Conditions. But if the householder is willing to resume paying, PennyMac will slash the interest rate back to 'teaser' level. "It is very important to the entire team here to be part of the solution.". Additional information about PennyMac Financial Services, Inc. is available at ir.pennymacfinancial.com. Now he is in one . He cashed out of Countrywide before its stock tanked, taking $200 million with him. 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. Are housebuilder stocks looking cheap for dividend yields? " I am deeply saddened to share the news of Stan's passing. Search their Arrest Records, Driving Records, Contact Information, Photos and More 1) Stanford Kurland's Phone & Current Address PennyMac has been more tight-lipped about its direct lending operation, which is still relatively small. by Louis | Sep 5, 2021 | past-services | 0 comments, Full Name: Dr. David A. KurlandDate of Death: Saturday, September 4, 2021. You can see the complete history of Mr. Kurland stock trades at the bottom of the page. As of 20 January 2021 he still owns at least 7,564,990 units of Pennymac Mortgage Investment Trust stock. Our Manager, our Servicer, and PNMAC are controlled subsidiaries of PFSI. 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 On average, Stanford trades about 28,493 units every 38 days since 2009. 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 These are not the type of people I want to have over my house for dinner, says Taylor. He says the Pasadena office is not for walk-ins. Mr. Kurland owns over 31,000 units of Pennymac Mortgage Investment Trust stock worth over $99,479,619 and over the last 14 years he sold PMT stock worth over $52,390,589. Powered and implemented by Interactive Data Managed Solutions. Of the 313 PennyMac executives who are listed on professional networking site LinkedIn, 75 had spent some time at Countrywide. Prior thereto, he had been our chairman of the board and chief executive officer from May 2009 through December 2016. Your email address will not be published. In addition, he makes $15,070,800 as Non-Executive Chairman of the . The oldest executive at Pennymac Mortgage Investment Trust is RandallHadley, 76, who is the Independent Trustee. Stanford Lee Kurland Age 68 Born Wednesday 11 Jun 1952 Died 24 Jan 2021 (ca.) 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. Kurland was president and CEO until 2016 when he became chairman. 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. It's a win-win situation. Copyright 2023 PeekYou.com. Visit the Funeral Home's Website. Mr. Kurland owns over 31,000 units of Pennymac Mortgage Investment Trust stock worth over $99,479,619 and over the last 14 years he sold PMT stock worth over $52,390,589. There was certainly a huge clue in the fact that, by now, executives had cashed in around $800m in share options. He retired from day-to-day responsibilities in 2020 but remained a trusted guide for the company. PennyMac Mortgage Investment Trust is a mortgage real estate investment trust (REIT) that invests primarily in residential mortgage loans and mortgage-related assets. Amelia Dominguez Theodosis, 76, of Lehi, Utah passed away on Sunday February 19, 2023 in Salt LakeCity, UT surrounded by her loved ones. 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. If you need to flag this entry as abusive. This post was published on the now-closed HuffPost Contributor platform. The guy in the bungalow next door may have made some mistakes. 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. Most recently he sold 31,000 units of PMT stock worth $1,883,560 on 20 January 2021. today announced the passing of the company's founder and Non-Executive Chairman Stanford L. Kurland. PennyMac runs a public mortgage REIT, but not all of the companys business and profits go to the REIT. 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. . His relative anonymity is partly down to the high profile taken by his erstwhile boss, Angelo Mozilo, who founded Countrywide in 1969. 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. While Kurland had been battling brain cancer, the cause of death was attributed to complications from COVID . In addition, he makes $15,070,800 as Non-Executive Chairman of the Trustee at Pennymac Mortgage Investment Trust. 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. Yet now he's public enemy number one in the US press and blogging world. Create your customplan in less than 5 minutes. As president of Countrywide America's largest mortgage lender until its crash last year Kurland helped devise and mass-market the dodgy mortgages that helped get us into this mess, says The Independent. The largest trade he's ever made was exercising 205,881 units of Pennymac Mortgage Investment Trust stock on 2 April 2018 worth over $2,764,982. It all started falling apart when the real estate market slipped. The Kurland family requests that in lieu of flowers donations be made to the UCLA Brain Tumor Program via the following link: bit.ly/StanfordKurland. All the old fogies out there with their glorious fixed-rate mortgages can call him stupid. 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 Stanford has made over 52 trades of the Pennymac Mortgage Investment Trust stock since 2013, according to the Form 4 filled with the SEC. 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. MoneyWeek is part of Future plc, an international media group and leading digital publisher. Key Principal: KEVIN STANFORD See more contacts Industry: Charitable organization Printer Friendly View Address: 25 British American Blvd Latham, NY, 12110-1405 United States Phone: Employees (this site): Modelled Employees (all sites): Modelled Revenue: Modelled Year Started: ESG ranking: ESG industry average: What is D&B's ESG Ranking? So far it appears to be working. We look at Taylor Wimpey, Persimmon and Barratt Developments. Start a FameChain Other Partners Professional Partners Siblings Other Partners Professional Partners Siblings Sheila Kurland Start a FameChain His Other Children Children Together Tracey Engelson born 1986, age 35 (approx.) It doesnt hurt that PennyMac has a 9.3% dividend yield at a time when investment income is hard to come by. That wasn't supposed to happen. "I am expecting something gigantic to break in the near future for Countrywide." Mr. Kurland served as PennyMacs Chairman and CEO until 2016 when he was appointed Executive Chairman. You can see the complete history of Mr. Kurland stock trades at the bottom of the page. Stanford's mailing address filed with the SEC is C/O PENNYMAC FINANCIAL SERVICES, INC., 3043 TOWNSGATE ROAD, WESTLAKE VILLAGE, CA, 91361. Salt Lake City, Utah. 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. - Salt Lake City, 6500 S Redwood Rd, Directly linked to any of the No but remained a trusted guide for the company & # x27 s... That company founder and Non-Executive Chairman of the alleged wrongdoing at Countrywide Financial to founding the pair of traded! Bungalow next door May have made some mistakes, though, doesnt to... Now he & # x27 ; s brilliant, & quot ; Stan & # x27 ; s.! Finance had heard of Stanford L Kurland is at least 7,564,990 units of Pennymac Mortgage Investment Trust in personal... 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