0000000000-23-008081.txt : 20230912 0000000000-23-008081.hdr.sgml : 20230912 20230728093006 ACCESSION NUMBER: 0000000000-23-008081 CONFORMED SUBMISSION TYPE: UPLOAD PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20230728 FILED FOR: COMPANY DATA: COMPANY CONFORMED NAME: PennyMac Financial Services, Inc. CENTRAL INDEX KEY: 0001745916 STANDARD INDUSTRIAL CLASSIFICATION: MORTGAGE BANKERS & LOAN CORRESPONDENTS [6162] IRS NUMBER: 831098934 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: UPLOAD BUSINESS ADDRESS: STREET 1: 3043 TOWNSGATE ROAD CITY: WESTLAKE VILLAGE STATE: CA ZIP: 91361 BUSINESS PHONE: (818) 224-7442 MAIL ADDRESS: STREET 1: 3043 TOWNSGATE ROAD CITY: WESTLAKE VILLAGE STATE: CA ZIP: 91361 FORMER COMPANY: FORMER CONFORMED NAME: New PennyMac Financial Services, Inc. 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Perotti Chief Financial Officer PennyMac Financial Services, Inc. 3043 Townsgate Road Westlake Village, California 91361 Re: PennyMac Financial Services, Inc. Form 10-K for the fiscal year ended December 31, 2022 Filed February 22, 2023 File No. 001-38727 Dear Daniel S. Perotti: We have limited our review of your filing to the financial statements and related disclosures and have the following comment. In our comment, we may ask you to provide us with information so we may better understand your disclosure. Please respond to this comment within ten business days by providing the requested information or advise us as soon as possible when you will respond. If you do not believe our comment applies to your facts and circumstances, please tell us why in your response. After reviewing your response to this comment, we may have additional comments. Form 10-K for the fiscal year ended December 31, 2022 Consolidated Financial Statements Notes to Consolidated Financial Statements Note 3 - Significant Accounting Policies - Servicing Advances, page F-12 1. Please revise future filings to disclose the material information required by ASC 326-20- 50 related to the valuation allowance for your servicing advances, including a roll-forward of the allowance for credit losses for each period presented. Please provide us your proposed disclosure. Daniel S. Perotti PennyMac Financial Services, Inc. July 28, 2023 Page 2 In closing, we remind you that the company and its management are responsible for the accuracy and adequacy of their disclosures, notwithstanding any review, comments, action or absence of action by the staff. You may contact Katharine Garrett at 202-551-2332 or Michael Volley at 202-551-3437 with any questions. FirstName LastNameDaniel S. Perotti Sincerely, Comapany NamePennyMac Financial Services, Inc. Division of Corporation Finance July 28, 2023 Page 2 Office of Finance FirstName LastName