The National Association of Minority Mortgage Bankers of America (NAMMBA), a national trade association dedicated to the enrichment and betterment of women and minorities working in the mortgage industry, announced its partnership with PennyMac Financial Services, Inc., (NYSE: PFSI) (PennyMac), one of the largest publicly-traded residential mortgage companies in the country.

“We can’t do the work we do without partnering with companies like PennyMac,” said NAMMBA Founder and CEO Tony Thompson, CMB. “Their commitment not only to their workplace culture, but also to the communities they serve demonstrates that PennyMac knows that there is strength in cultivating a diverse workforce. Thank you PennyMac for your commitment.”

As a sponsor, PennyMac supports NAMMBA’s effort of empowering women and underrepresented minorities to broaden their leadership skills and create an impact in their communities.

“PennyMac is delighted to join forces with NAMMBA in its commitment to growing and developing diverse leaders,” said Kim Nichols, Senior Managing Director of Broker Direct Lending at PennyMac. “It is personally important to me and our entire organization to support the creation of an inclusive and diverse environment where all teammates feel valued, have a sense of belonging and are given the opportunities to contribute and reach their career potential.”

According to NAMMBA, over the next five years, 75 percent of all first-time home buyers will be women, millennials or people of color. Although there is concern across the industry about a stagnant or shrinking housing market, purchase mortgage opportunity is not only growing, but it is also changing. NAMMBA’s most recent mortgage market forecast reports that the three largest diverse borrower groups (Asian, Black and African-American, and Hispanic borrowers) generated more than $357B of purchase opportunity in 2020, which amounts to 24.95 percent of all purchase dollar opportunities.

NAMMBA continues to push towards achieving Mission 2025, which strives to connect 50,000 students to the real estate finance industry by the year 2025 as advocates for sustainable homeownership.

Additionally, NAMMBA and PennyMac will work together to develop resources for mortgage brokers to allow them to connect and engage more efficiently within the market.

For more information about NAMMBA please visit: http://www.nammba.org. To learn more about PennyMac please visit www.ir.pennymacfinancial.com.


About NAMMBA
The National Association of Minority Mortgage Bankers of America is a purpose-driven organization that is dedicated to the inclusion of minorities and women in the mortgage industry who are advocates for sustainable homeownership in local communities. To fulfill its mission, NAMMBA provides programs and initiatives to introduce minorities and women into the mortgage industry, including recruiting, advisory, networking and training for enterprises and individual professionals
For more information, visit: http://www.nammba.org

About PennyMac Financial Services, Inc.
PennyMac Financial Services, Inc. is a specialty financial services firm focused on the production and servicing of U.S. mortgage loans and the management of investments related to the U.S. mortgage market. Founded in 2008, the company is recognized as a leader in the U.S. residential mortgage industry and employs over 7,000 people across the country. For the twelve months ended September 30, 2021, PennyMac Financial’s production of newly originated loans totaled $257 billion in unpaid principal balance, making it the second largest mortgage lender in the nation. As of September 30, 2021, PennyMac Financial serviced loans totaling $495 billion in unpaid principal balance, making it a top ten mortgage servicer in the nation. Additional information about PennyMac Financial Services, Inc. is available at www.ir.pennymacfinancial.com.

For media questions:

Jade Winfrey
NAMMBA
+1 407-770-9218
info@nammba.org