Stanford Kurland, founder of PennyMac Mortgage Investment Trust and a former executive at Countrywide Financial Corp., has died. He was 68. In fact, his "excellent adventure" is going so well that PennyMac, which already holds $800m in home loans, expects the figure to rise to $15bn within 18 months. 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. Stanford L. Kurland serves as Non-Executive Chairman of the Trustee of the Company. There are 1 older and 20 younger executives at Pennymac Mortgage Investment Trust. It remains a multi-billion-dollar nightmare. Last updated: 22 January 2021 at 7:06pm EST. He will be deeply missed by many in our industry and our community including all of us here at PennyMac., I am fortunate to have worked alongside Stan for the last 31 years and am honored to call him a dear friend, Mr. Spector continued. 2023 Fortune Media IP Limited. Last updated: 22 January 2021 at 7:06pm EST. This post was published on the now-closed HuffPost Contributor platform. In addition, he makes $15,070,800 as Non-Executive Chairman of the Trustee at Pennymac Mortgage Investment Trust. Prior thereto, he had been our chairman of the board and chief executive officer from May 2009 through December 2016. If you need to flag this entry as abusive. Kurland's got taxpayers coming and going. 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 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. Chamberlain says the firm has no plans to make subprime loans. To ensure the most secure and best overall experience on our website, we recommend the latest versions of. All the old fogies out there with their glorious fixed-rate mortgages can call him stupid. There are no executives at Pennymac Mortgage Investment Trust getting paid more. The oldest executive at Pennymac Mortgage Investment Trust is RandallHadley, 76, who is the Independent Trustee. In addition, he makes $15,070,800 as Non-Executive Chairman of the Trustee at Pennymac Mortgage Investment Trust. To ensure the most secure and best overall experience on our website we recommend the latest versions of, Internet Explorer is no longer supported. 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. Stanford has made over 52 trades of the Pennymac Mortgage Investment Trust stock since 2013, according to the Form 4 filled with the SEC. Stanford has made over 52 trades of the Pennymac Mortgage Investment Trust stock since 2013, according to the Form 4 filled with the SEC. PennyMacs odd corporate structure has worried some Wall Street analysts. Mr. Kurland has been a member of our Board since our formation in May 2009 and has been our Executive Chairman since January 2017. PennyMac Mortgage Investment Trust is a mortgage real estate investment trust (REIT) that invests primarily in residential mortgage loans and mortgage-related assets. PennyMac has funded over $9 billion in mortgages this year, up from less than $1 billion in 2011. 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. None of the executives at PennyMac are directly linked to any of the alleged wrongdoing at Countrywide. Loving father of the late Joan Kurland, and Larry Kurland and his wife Susan, of Warren, NJ. 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 2008, Mr. Kurland founded PennyMac in partnership with BlackRock Mortgage Ventures, LLC and HC Partners, formerly Highfields Capital Management. Beloved husband of the late Miriam Kurland. 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. But his trials are not o, Alvin Chau made a fortune catering for Chinese gamblers as the authorities turned a blind eye. It's giving a blatant V-sign to the American taxpayer but Kurland doesn't care. Taxpayers provided $700 billion to prop them up - including Bank of America, after it bought the financially-sputtering Countrywide. The entire PennyMac community mourns the loss of Mr. Kurland, an esteemed industry leader, visionary and friend. Then companies like AIG sold insurance on them. While Kurland had been battling brain cancer, the cause of death was attributed to complications from COVID . 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. 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. "Stan leaves an indelible mark not only on PennyMac, but on the mortgage industry he helped to build and shape. 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. 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. All Rights Reserved. Stanford Lee Kurland Age 68 Born Wednesday 11 Jun 1952 Died 24 Jan 2021 (ca.) 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. 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. Looking for Stanford 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. These are not the type of people I want to have over my house for dinner, says Taylor. 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. Search address history, phone, age and more. 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 unit was launched a year ago, and now accounts for about a third of the companys profits. asked a blogger on the Irreverent Stocklist in early 2007. Stanford Kurland is 67, he's been the Non-Executive Chairman of the Trustee of Pennymac Mortgage Investment Trust since 2020. 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. With his passion and vision, Stan led and built two of the largest and most influential companies in our industry, making home loans to millions of Americans. Beloved husband of the late Miriam Kurland. Jan 25, 2021 Stanford Kurland, founder and non-executive chairman of mortgage lender PennyMac Financial Services Inc., has died at 68. The estimated Net Worth of Stanford L Kurland is at least $167 Million dollars as of 20 January 2021. Mortgage brokers like Kurland pushed these loans because they knew they were going to immediately dump that trash. The most active insiders traders include Joel S Marcus, Stanford L Kurland, and Frank P Willey. Stanford's mailing address filed with the SEC is C/O PENNYMAC FINANCIAL SERVICES, INC., 3043 TOWNSGATE ROAD, WESTLAKE VILLAGE, CA, 91361. Stanford L Kurland "Stan" Deceased, Pennymac Mortgage . Stanford Kurland is 67, he's been the Non-Executive Chairman of the Trustee of Pennymac Mortgage Investment Trust since 2020. The entire PennyMac community mourns the loss of Mr. Kurland, an esteemed industry leader, visionary and friend. COVID-19 . 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. He was 68. PennyMac, though, doesnt seem to be hiding its lending operations from potential customers. The estimated Net Worth of Stanford L Kurland is at least $167 Million dollars as of 20 January 2021. 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. 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. Amelia Dominguez Theodosis, 76, of Lehi, Utah passed away on Sunday February 19, 2023 in Salt LakeCity, UT surrounded by her loved ones. Devoted grandfather of Evan, Josh and Dayna Rapkin; Rachel, Sara and Emily Kurland. Either way, PennyMacs current investors dont seem to be bothered by Kurland and his teams past, or by the companys complicated structure. You can see the complete history of Mr. Kurland stock trades at the bottom of the page. Johann Rupert, the presiding boss of Swiss luxury group Richemont, has seen off a challenge to his authority by a hedge fund. Feb 19, 2023. You can see the complete history of Mr. Kurland stock trades at the bottom of the page. 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. Now he's back. FORTUNE The Federal Reserves recent decision to buy mortgage bonds until the economy recovers has made home lending more attractive than it has been in years. 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. A number of analysts who follow the company were unaware of it. 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. 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.) Stanford Kurland, who went from being pushed out of the No. Prior thereto, he had been our chairman of the board and chief executive officer from May 2009 through December 2016. Check out these 10 holiday destinations which remain cheap despite rising inflation. 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. 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. 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. The estimated Net Worth of Stanford L Kurland is at least $169 Million dollars as of 20 January 2021. Most recently he sold 31,000 units of PMT stock worth $1,883,560 on 20 January 2021. Our Manager, our Servicer, and PNMAC are controlled subsidiaries of PFSI. There are 1 older and 20 younger executives at Pennymac Mortgage Investment Trust. As of 20 January 2021 he still owns at least 7,564,990 units of Pennymac Mortgage Investment Trust stock. I am deeply saddened to share the news of Stans passing. 6500 S Redwood Rd, Salt Lake City, Utah , 84123. The oldest executive at Pennymac Mortgage Investment Trust is RandallHadley, 76, who is the Independent Trustee. 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. "You could say he's brilliant," says . Stanford L. Kurland. While Trevor wed nutritionist Tracey Kurland in 2019. 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 Disclaimer: PeekYou is not a consumer reporting agency per the Fair Credit Reporting Act. . So far it appears to be working. He was 68. Amelia was born on September 24, 1946 in Veracruz, Mexico toAngel & Antelma Dominguez Garcia. Search Details, Stanford Kurland's Phone #, Address & More 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". The entire PennyMac community mourns the loss of Mr. Kurland, an esteemed industry leader, visionary and friend. Additional information about PennyMac Financial Services, Inc. is available at ir.pennymacfinancial.com. Until last week, no one outside finance had heard of Stanford L. Kurland. He cashed out of Countrywide before its stock tanked, taking $200 million with him. On average, Stanford trades about 28,493 units every 38 days since 2009. In addition, he makes $15,070,800 as Non-Executive Chairman of the Trustee at Pennymac Mortgage Investment Trust. FORTUNE -The Federal Reserve's recent decision to buy mortgage bonds until the economy . These loans became that oxymoron: "toxic assets." On average, Stanford trades about 28,493 units every 38 days since 2009. It all started falling apart when the real estate market slipped. He presents this as an act of redemption. You can see the complete history of Mr. Kurland stock trades at the bottom of the page. PennyMac CEO Stanford Kurland, who spent most of career at Countrywide, is recreating his old firm. The person who answers says he works for PennyMac. Prior thereto, he had been our chairman of the board and chief executive officer from May 2009 through December 2016. 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. On average, Stanford trades about 28,493 units every 38 days since 2009. He was duped. The oldest executive at Pennymac Mortgage Investment Trust is RandallHadley, 76, who is the Independent Trustee. He retired from day-to-day responsibilities in 2020 but remained a trusted guide for the company. The Bank has already paid $8.7bn to settle suits from states contending that Countrywide defrauded investors by hawking defective mortgages. ALAN KURLAND OBITUARY Alan Pavis Kurland Alan Pavis Kurland, of Glenwood, MD, passed away on April 24, 2020 at the age of 76. 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 . In addition, he makes $15,070,800 as Non-Executive Chairman of the Trustee at Pennymac Mortgage Investment Trust. Stan's skills were quickly observed by . Last updated: 22 January 2021 at 7:06pm EST. 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. That would make the PennyMac the 12th largest mortgage lender in the country, according to trade publication Inside Mortgage Finance. . Shares of the REIT have risen nearly 50% in the past year. Most recently he sold 31,000 units of PMT stock worth $1,883,560 on 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. That wasn't supposed to happen. Copyright 2023 PeekYou.com. Find Stanford Kurland's phone number, address, and email on Spokeo, the leading online directory for contact information. Kurland, PennyMac's non-executive chairman, died. There are 1 older and 20 younger executives at Pennymac Mortgage Investment Trust. Your email address will not be published. Are housebuilder stocks looking cheap for dividend yields? Alan was a man of many talents, from acting to directing to. Mr. Kurland has been a member of our Board since our formation in May 2009 and has been our Executive Chairman since January 2017. Known Addresses for Stanford Kurland. The report found that Brandts former unit handed out hundreds ofsweetheart loans to members of Congress, their staffs and other government employees. 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. Executives say they hope to be on pace to finance $30 billion in mortgage loans next year. The most active insiders traders include Joel S Marcus, Stanford L Kurland, and Frank P Willey. "It is horrible what transpired in the industry," he sighs. Or this, in a Times story by Eric Lipton: "It is sort of like the arsonist who sets fire to the house and then buys up the charred remains and resells it." He was a genuine and gracious person to anyone he crossed paths with and he cherished his family and friends. 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. 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. But to others, he's a "subprime creep". Kurland, formerly the firm's auditor, joined the group in the 1970s and was generally known as the "soft-spoken" number two. 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. Mr. Kurland holds a BS from California State University, Northridge. Visit our corporate site www.futureplc.com Future Publishing Limited, Quay House, The Ambury, Bath BA1 1UA. Stanford Kurland is 67, he's been the Non-Executive Chairman of the Trustee of Pennymac Mortgage Investment Trust since 2020. 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. 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. Stanford L. Kurland serves as Non-Executive Chairman of the Trustee of the Company. 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. Our Manager, our Servicer, and PNMAC are controlled subsidiaries of PFSI. Youve done this before.. That's from Margo Saunders, a lawyer with the National Consumer Law Center. 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