Subsequent Events

3 Months Ended

Mar. 31, 2021

Subsequent Events

Subsequent Events

Note 25—Subsequent Events

Management has evaluated all events and transactions through the date the Company issued these consolidated financial statements. During this period:

● On May 6, 2021, the Company announced that its board of directors declared a cash dividend of $0.20 per common share. The dividend will be paid on May 27, 2021 to common shareholders of record as of May 17, 2021.

● On April 28, 2021, the Company, through three of its wholly-owned subsidiaries, PLS, PennyMac, and PFSI ISSUER TRUST – FMSR (“PFSI Issuer”), entered into a structured finance transaction, allowing PLS to finance Fannie Mae MSRs and ESS (the “FNMA MSR Facility”). In connection with the FNMA MSR Facility, PLS pledges and/or sells to PFSI Issuer participation certificates representing beneficial interests in MSRs and ESS pursuant to the terms of a master repurchase agreement and the PFSI Issuer issues to PLS the PFSI ISSUER TRUST - FMSR Collateralized Notes, Series 2021-MSRVF. In addition, the PFSI Issuer may issue to institutional investors term notes secured on a pari passu basis by the participation certificates relating to the MSRs and ESS.

● All agreements to repurchase assets that matured before the date of this Report were extended or renewed.