A Patent Pending People Search Process. MORE: The housing pick up wont produce much economic growth, Whats more, Chamberlain says direct lending is not a part of PennyMacs investor presentations because the division is part of the companys private operations, not its publicly traded company. Service at:Beth El Cemetery735 Forest Ave, Paramus, NJ 07652, Your email address will not be published. I am deeply saddened to share the news of Stans passing. International President United Steelworkers union. Kevin Chamberlain Kurland, PennyMac's non-executive chairman, died. Powered and implemented by Interactive Data Managed Solutions. Salt Lake City, Utah. Most recently he sold 31,000 units of PMT stock worth $1,883,560 on 20 January 2021. 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. All Rights Reserved. Taylor thinks PennyMac and firms like it could help. 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. The person who answers says he works for PennyMac. FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. 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. The entire PennyMac community mourns the loss of Mr. Kurland, an esteemed industry leader, visionary and friend. 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. We look at Taylor Wimpey, Persimmon and Barratt Developments. He escaped in time to cash in a personal $200m worth of shares. FORTUNE -The Federal Reserve's recent decision to buy mortgage bonds until the economy . In addition, he makes $15,070,800 as Non-Executive Chairman of the Trustee at Pennymac Mortgage Investment Trust. As of 20 January 2021 he still owns at least 7,564,990 units of Pennymac Mortgage Investment Trust stock. He retired from day-to-day responsibilities at the beginning of 2020 but remained a trusted guide for the company. Following their conversion to The Church of Jesus Christ ofLatter-Day Saints, her family served as a . 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. 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 . 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. On average, Stanford trades about 28,493 units every 38 days since 2009. He retired from day-to-day management in early 2020. But to others, he's a "subprime creep". Unlike Mozilo and other high-ranking Countrywide executives, Kurland was not charged with fraud by the Securities and Exchange Commission. There are 1 older and 20 younger executives at Pennymac Mortgage Investment Trust. It remains a multi-billion-dollar nightmare. The largest trade he's ever made was exercising 205,881 units of Pennymac Mortgage Investment Trust stock on 2 April 2018 worth over $2,764,982. Search Details, 2) Social Media Profiles & More Devoted grandfather of Evan, Josh and Dayna Rapkin; Rachel, Sara and Emily Kurland. Prior thereto, he had been our chairman of the board and chief executive officer from May 2009 through December 2016. Looking for Stanford Kurland? Kurland served as PMT's Chairman and CEO until 2016 when he was appointed Executive Chairman. Little is known of Kurland, says The First Post, other than that he's 56, the family name is Latvian, and he boasts of a charitable foundation run with his wife, Sheila. Jan 25, 2021 Stanford Kurland, founder and non-executive chairman of mortgage lender PennyMac Financial Services Inc., has died at 68. In addition, he makes $15,070,800 as Non-Executive Chairman of the . On average, Pennymac Mortgage Investment Trust executives and independent directors trade stock every 16 days with the average trade being worth of $70,951. Two years later the company merged. The companys website advertises new home loans with rates as low as 3.5%, and has an 800-number to call. Many couldn't care less about PennyMac's history all that matters, says one customer, "is that we know our house is secure and our credit is safe". 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. . They were packaged and peddled on Wall Street in bundles as securities. Ever since President Obama announced his plan to forestall foreclosures, many of those lucky enough to have burned their mortgages have angrily suggested that less frugal homeowners get the Creep of the Week award. It doesnt hurt that PennyMac has a 9.3% dividend yield at a time when investment income is hard to come by. No wonder one executive describes business as "off-the-charts good". Part of HuffPost Business. 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. Find Stanford Kurland's phone number, address, and email on Spokeo, the leading online directory for contact information. On average, Stanford trades about 28,493 units every 38 days since 2009. Prior to his retirement, Dr. Kurland was an optometrist in Maywood, NJ. 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. PennyMac has been more tight-lipped about its direct lending operation, which is still relatively small. Kurland was president and CEO until 2016 when he became chairman. PennyMac Mortgage Investment Trust is a mortgage real estate investment trust (REIT) that invests primarily in residential mortgage loans and mortgage-related assets. Then companies like AIG sold insurance on them. The unit was launched a year ago, and now accounts for about a third of the companys profits. Stanford's mailing address filed with the SEC is C/O PENNYMAC FINANCIAL SERVICES, INC., 3043 TOWNSGATE ROAD, WESTLAKE VILLAGE, CA, 91361. 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. On average, Stanford trades about 28,493 units every 38 days since 2009. In addition, he makes $15,070,800 as Non-Executive Chairman of the Trustee at Pennymac Mortgage Investment Trust. Proud grandfather of Jennifer, and her husband Geoff, Adam and Kyle. Mr. Kurland died from complications related to COVID-19 and had been battling brain cancer. Prior thereto, he had been our chairman of the board and chief executive officer from May 2009 through December 2016. 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. For the twelve months ended September 30, 2020, PennyMac Financials production of newly originated loans totaled $170 billion in unpaid principal balance, making it the third largest mortgage lender in the nation. He cashed out of Countrywide before its stock tanked, taking $200 million with him. So when PennyMac finances those loans $1.6 billion in July and August alone the public REIT passes them along to a private division of the company, which is owned and operated by PennyMacs executives and its two outside investors, asset manager Blackrock and private equity firm Highfields Capital. PennyMac Mortgage Investment Trust is a mortgage real estate investment trust (REIT) that invests primarily in residential mortgage loans and mortgage-related assets. Stanford Kurland is 67, he's been the Non-Executive Chairman of the Trustee of Pennymac Mortgage Investment Trust since 2020. Until last week, no one outside finance had heard of Stanford L. Kurland. Mr. Kurland owns over 31,000 units of Pennymac Mortgage Investment Trust stock worth over $109,314,106 and over the last 14 years he sold PMT stock worth over $52,390,589. Now he is in one . The oldest executive at Pennymac Mortgage Investment Trust is RandallHadley, 76, who is the Independent Trustee. The neighbor reaching for the American Dream isn't at fault. He spent 27 years at Countrywide Financial Corporation in various executive positions including Chief Financial Officer, then President and Chief Operating Officer until his departure from Countrywide in 2006. (801) 969-3456. For about 38 cents on the dollar, PennyMac buys bad mortgages from the federal government -- which got them with taxpayer money from failing banks. One of his early assignments was at a mortgage bank called Countrywide Credit Industries and its operating subsidiary Countrywide Acceptance Company. The estimated Net Worth of Stanford L Kurland is at least $180 Million dollars as of 20 January 2021. Until last week, no one outside finance had heard of Stanford L. Kurland. He presents this as an act of redemption. Amelia Dominguez Theodosis, 76, of Lehi, Utah passed away on Sunday February 19, 2023 in Salt LakeCity, UT surrounded by her loved ones. Fine, Kurland's PennyMac gives the guy in the bungalow next door payments low enough to let him stay. In the six years before he abruptly quit in 2006, Countrywide's portfolio mushroomed from $62bn to $463bn. Alan was a man of many talents, from acting to directing to. Mr. Kurland holds a BS from California State University, Northridge. But the cycle of mortgaging is costing taxpayers 62 cents on the dollar. Advertisements. Most recently he sold 31,000 units of PMT stock worth $1,883,560 on 20 January 2021. 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. More surprising is the reaction PennyMac gets from consumer advocates. Required fields are marked *. Outdoor-equipment retailer Yvon Chouinard is the latest in a line of rich benefactors to shun personal aggrandisement in favour of worthy causes. Mr. Kurland has been a member of our Board since our formation in May 2009 and has been our Executive Chairman since January 2017. Coordinating operations , 4.. (818) 264-4907, Internet Explorer presents a security risk. Check out these 10 holiday destinations which remain cheap despite rising inflation. In December, Bank of America agreed to pay $335 million to settle charges that Countrywide loan officers regularly charged minority borrowers higher rates and fees than those paid by similar white borrowers. Loving father of the late Joan Kurland, and Larry Kurland and his wife Susan, of Warren, NJ. Yet now he's public enemy number one in the US press and blogging world. By continuing to use our site, you consent to the placement of cookies on your browser and agree to the terms of our Privacy Policy. The oldest executive at Pennymac Mortgage Investment Trust is RandallHadley, 76, who is the Independent Trustee. The most active insiders traders include Joel S Marcus, Stanford L Kurland, and Frank P Willey. Stan Kurland is Deceased at Pennymac Mortgage Investment. 1) Stanford Kurland's Phone & Current Address, Stanford Kurland's Phone #, Address & More, Stanford Kurland's Contact Info, Social Profiles & More. 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. A number of analysts who follow the company were unaware of it. . Stanford has made over 52 trades of the Pennymac Mortgage Investment Trust stock since 2013, according to the Form 4 filled with the SEC. 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. 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 The Hollywood producer, who is best known for his 2010 film Remember Me, is based in LA with his wife and daughters and seems to be relishing. Stanford L. Kurland serves as Non-Executive Chairman of the Trustee of the Company. In fact, he thinks he's doing America a favour. The entire PennyMac community mourns the loss of Mr. Kurland, an esteemed industry leader, visionary and friend. 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. So its perhaps no surprise that one of the first firms to rush into this profit-filled fun house is headed by the former executives of the most notorious subprime lender of the era that led to the financial crisis. 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 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. None of the executives at PennyMac are directly linked to any of the alleged wrongdoing at Countrywide. Mr. Kurland owns over 31,000 units of Pennymac Mortgage Investment Trust stock worth over $113,020,951 and over the last 13 years he sold PMT stock worth over $52,390,589. Several actions against CEOs, including Kurland, are still extant. 6360 NW 5th Way Fort Lauderdale, FL 33309 155 N Lake Ave Pasadena, CA 91101 4500 Park Granada Calabasas, CA 91302 6400 Legacy Dr Plano, TX 75024 PO Box 7137 Pasadena, CA 91109. Mortgage brokers like Kurland pushed these loans because they knew they were going to immediately dump that trash. The estimated Net Worth of Stanford L Kurland is at least $169 Million dollars as of 20 January 2021. The Bank has already paid $8.7bn to settle suits from states contending that Countrywide defrauded investors by hawking defective mortgages. 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. Executives say they hope to be on pace to finance $30 billion in mortgage loans next year. Ultimately, it was the banks that weren't requiring income verification or any income information at all. by Louis | Sep 5, 2021 | past-services | 0 comments, Full Name: Dr. David A. KurlandDate of Death: Saturday, September 4, 2021. Stanford Kurland Death - Stanford Kurland Obituary | Cause Of Death : On the 28th of January 2021, Dead-Death learned about the unexpected death of. Yet, with some predicting that the Bank may take a further $33bn hit from the purchase, evidence suggests it's Kurland's outfit PennyMac that will actually benefit, says The New York Times. PennyMac spokesman Kevin Chamberlain, and Countrywide alumni, says PennyMacs retail operation is focused on refinancing delinquent borrowers whose mortgages have been acquired by PennyMac into affordable loans. On average, Stanford trades about 28,493 units every 38 days since 2009. The estimated Net Worth of Stanford L Kurland is at least $167 Million dollars as of 20 January 2021. Amelia was born on September 24, 1946 in Veracruz, Mexico toAngel & Antelma Dominguez Garcia. Stanford has made over 52 trades of the Pennymac Mortgage Investment Trust stock since 2013, according to the Form 4 filled with the SEC. 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. Search Details, Stanford Kurland's Contact Info, Social Profiles & More England and Wales company registration number 2008885, Kwasi Kwarteng, who studied 17th-century currency policy for his doctoral thesis, has always had a keen interest in economic crises. You may not use our site or service, or the information provided, to make decisions about employment, admission, consumer credit, insurance, tenant screening or any other purpose that would require FCRA compliance. " I am deeply saddened to share the news of Stan's passing. The set includes leaders who can perform five different organizational tasks or functions, including: 1. "Greed," as one well-placed lawyer remarks, "is a growth industry." Stanford's mailing address filed with the SEC is C/O PENNYMAC FINANCIAL SERVICES, INC., 3043 TOWNSGATE ROAD, WESTLAKE VILLAGE, CA, 91361. On average, Pennymac Mortgage Investment Trust executives and independent directors trade stock every 16 days with the average trade being worth of $70,951. You can see the complete history of Mr. Kurland stock trades at the bottom of the page. Chamberlain says the firm has no plans to make subprime loans. Our formation in May 2009 and has been more tight-lipped about its direct lending operation, which still. Or any income information at all Kurland served as PMT & # x27 ; s passing Joel... One executive describes business as `` off-the-charts good '' Joel s Marcus, trades! 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