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 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 PennyMac CEO Stanford Kurland, who spent most of career at Countrywide, is recreating his old firm. 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). That wasn't supposed to happen. Kevin Chamberlain In the event, Countrywide staggered on for a year, chalking up billions in losses before it was rescued by Bank of America last July. 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. 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. Kurland, PennyMac's non-executive chairman, died. The neighbor reaching for the American Dream isn't at fault. There are no executives at Pennymac Mortgage Investment Trust getting paid more. Taylor thinks PennyMac and firms like it could help. 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. 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. 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. PennyMac has been more tight-lipped about its direct lending operation, which is still relatively small. He presents this as an act of redemption. 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. 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. Prior thereto, he had been our chairman of the board and chief executive officer from May 2009 through December 2016. One of his early assignments was at a mortgage bank called Countrywide Credit Industries and its operating subsidiary Countrywide Acceptance 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. 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. In addition, he makes $15,070,800 as Non-Executive Chairman of the Trustee at Pennymac Mortgage Investment Trust. 1) Stanford Kurland's Phone & Current Address, Stanford Kurland's Phone #, Address & More, Stanford Kurland's Contact Info, Social Profiles & More. 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. This post was published on the now-closed HuffPost Contributor platform. Stanford L. Kurland serves as Non-Executive Chairman of the Trustee of the Company. You can see the complete history of Mr. Kurland stock trades at the bottom of the page. "Greed," as one well-placed lawyer remarks, "is a growth industry." As of 20 January 2021 he still owns at least 7,564,990 units of Pennymac Mortgage Investment Trust stock. Following their conversion to The Church of Jesus Christ ofLatter-Day Saints, her family served as a . 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. But here's the thing, when Countrywide sold him on that loan, he just didn't understand it. Kurland has been sued by former shareholders of Countrywide, but PennyMac spokesman Chamberlain says Kurland left Countrywide before much of the practices alleged in the suits occurred. 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. Still, that would be a fraction of what Countrywide was, which at its height financed about $500 billion in home loans a year, and regularly ranked as the nations largest mortgage lender. Now he is in one . 2023 Fortune Media IP Limited. Stanford Kurland was the second-most senior executive at Countrywide, the mortgage lender, until 2006 when he left, selling $200 million in stock options. To meet those aspirations, Kurland has recruited many of the same executives who helped him build Countrywide into a mortgage behemoth. 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. Most recently he sold 31,000 units of PMT stock worth $1,883,560 on 20 January 2021. John Taylor, who heads the National Community Reinvestment Coalition and has been a frequent critic of subprime lenders, welcomes the firm. All Rights Reserved. Stanford Kurland is 67, he's been the Non-Executive Chairman of the Trustee of Pennymac Mortgage Investment Trust since 2020. Stanford L. Kurland serves as Non-Executive Chairman of the Trustee of the Company. He escaped in time to cash in a personal $200m worth of shares. I am deeply saddened to share the news of Stans passing. The real loser, says The Huffington Post, is the US taxpayer. PennyMac Mortgage Investment Trust is a mortgage real estate investment trust (REIT) that invests primarily in residential mortgage loans and mortgage-related assets. 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. He was 68. 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 Fine, Kurland's PennyMac gives the guy in the bungalow next door payments low enough to let him stay. The price paid by Kurland is an avalanche of rage. 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, Stocks and cryptocurrency portfolio tracker. Feb 19, 2023. Our Manager, our Servicer, and PNMAC are controlled subsidiaries of PFSI. 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. Two years later the company merged. 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. He was 68. 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. Yet now he's public enemy number one in the US press and blogging world. Search Details, View Stanford's Profiles on Facebook and 60+ Networks, stanford****@gmail, View Stanford's Profiles on Facebook and 60+ Networks, stanford****@yahoo, View Stanford's Profiles on Facebook and 60+ Networks, stanford****@hotmail, View Stanford's Profiles on Facebook and 60+ Networks, stanford****@aol, View Stanford's Profiles on Facebook and 60+ Networks, stanford****@outlook. PennyMac, though, doesnt seem to be hiding its lending operations from potential customers. The report found that Brandts former unit handed out hundreds ofsweetheart loans to members of Congress, their staffs and other government employees. asked a blogger on the Irreverent Stocklist in early 2007. Last updated: 22 January 2021 at 7:06pm EST. A number of analysts who follow the company were unaware of it. You can see the complete history of Mr. Kurland stock trades at the bottom of the page. In addition, he makes $15,070,800 as Non-Executive Chairman of the Trustee at Pennymac Mortgage Investment Trust. Loving father of the late Joan Kurland, and Larry Kurland and his wife Susan, of Warren, NJ. 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. Stanford Kurland is 67, he's been the Non-Executive Chairman of the Trustee of Pennymac Mortgage Investment Trust since 2020. But if the householder is willing to resume paying, PennyMac will slash the interest rate back to 'teaser' level. If you need to flag this entry as abusive. Executives say they hope to be on pace to finance $30 billion in mortgage loans next year. Stanford L Kurland "Stan" Deceased, Pennymac Mortgage . Mr. Kurland died from complications related to COVID-19 and had been battling brain cancer. None of the executives at PennyMac are directly linked to any of the alleged wrongdoing at Countrywide. The oldest executive at Pennymac Mortgage Investment Trust is RandallHadley, 76, who is the Independent Trustee. As of 20 January 2021 he still owns at least 7,564,990 units of Pennymac Mortgage Investment Trust stock. 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. Memorial Redwood Mortuary & Cemetery 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. COVID-19 . The estimated Net Worth of Stanford L Kurland is at least $166 Milion dollars as of 20 January 2021. In addition, he makes $15,070,800 as Non-Executive Chairman of the Trustee at Pennymac Mortgage Investment Trust. He was 68. 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. Mortgage brokers like Kurland pushed these loans because they knew they were going to immediately dump that trash. Once you find the obituary you are looking for, you can get important information about upcoming services, share a favorite photo or memory, and . The Bank has already paid $8.7bn to settle suits from states contending that Countrywide defrauded investors by hawking defective mortgages. 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. His storied career in mortgage banking spanned more than four decades. 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. Mr. Kurland began his professional career in 1975 in public accounting, practicing as a CPA for the firm now known as Grant Thornton. To ensure the most secure and best overall experience on our website, we recommend the latest versions of. Then companies like AIG sold insurance on them. In addition, he makes $15,070,800 as Non-Executive Chairman of the . Devoted grandfather of Evan, Josh and Dayna Rapkin; Rachel, Sara and Emily Kurland. 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. ALAN KURLAND OBITUARY Alan Pavis Kurland Alan Pavis Kurland, of Glenwood, MD, passed away on April 24, 2020 at the age of 76. 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. Kurland was president and CEO until 2016 when he became chairman. Stanford Lee Kurland Age 68 Born Wednesday 11 Jun 1952 Died 24 Jan 2021 (ca.) by Louis | Sep 5, 2021 | past-services | 0 comments, Full Name: Dr. David A. KurlandDate of Death: Saturday, September 4, 2021. As of 20 January 2021 he still owns at least 7,564,990 units of Pennymac Mortgage Investment Trust stock. 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. The entire PennyMac community mourns the loss of Mr. Kurland, an esteemed industry leader, visionary and friend. Mr. Kurland holds a BS from California State University, Northridge. 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. 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. Stanford Kurland Mr. Kurland was 68. 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. He used some of that money to set up a new company: PennyMac. Prior thereto, he had been our chairman of the board and chief executive officer from May 2009 through December 2016. 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. No wonder one executive describes business as "off-the-charts good". But Kurland's not hurting. 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. Terms & Conditions. 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. The most active insiders traders include Joel S Marcus, Stanford L Kurland, and Frank P Willey. Louis Suburban Chapel is easily accessible from anywhere in the New York metropolitan area. Most recently he sold 31,000 units of PMT stock worth $1,883,560 on 20 January 2021. 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." (801) 969-3456. To ensure the most secure and best overall experience on our website we recommend the latest versions of, Internet Explorer is no longer supported. He bought a house he couldn't afford with a mortgage he couldn't pay and then slid his credit card to get a big screen TV and a dirt bike for his kid. See Stan Kurland's compensation, career history, education, & memberships. Yet now he's public enemy number one in the US press and blogging world. They were packaged and peddled on Wall Street in bundles as securities. Stan's skills were quickly observed by .