Stockholders' Equity

9 Months Ended

Sep. 30, 2013

Stockholders' Equity.

Stockholders' Equity

Note 17—Stockholders’ Equity

During the quarter ended September 30, 2013, a PennyMac unitholder exchanged 6,110,000 Class A Units for PFSI Class A common stock. The impact of the exchange reduced the percentage of the Noncontrolling interest in Private National Mortgage Acceptance Company, LLC from 83.16% to 75.11%.