PennyMac Financial Services, Inc.

We are a specialty financial services firm with a comprehensive mortgage platform and integrated business primarily focused on the production and servicing of U.S. residential mortgage loans (activities which we refer to as mortgage banking). We are also engaged in the management of investments related to the U.S. mortgage market and providing products and services that leverage innovative technologies to effectively and efficiently support our customers. We believe that our operating capabilities, specialized expertise, access to long-term investment capital, and experience across all aspects of the mortgage business will allow us to profitably grow these activities over time and capitalize on other related opportunities as they arise. We operate and control all of the business and affairs and consolidate the financial results of Private National Mortgage Acceptance Company, LLC ( PNMAC ) and its subsidiaries described below: Our principal mortgage banking subsidiary, PennyMac Loan Services, LLC ( PLS ), is a non-bank producer and servicer of mortgage loans. PLS is a seller/servicer for the Federal National Mortgage Association ( Fannie Mae ) and the Federal Home Loan Mortgage Corporation ( Freddie Mac ), each of which is a government-sponsored entity ( GSE ). PLS is also an approved issuer of securities guaranteed by the Government National Mortgage Association ( Ginnie Mae ), a lender of the Federal Housing Administration ( FHA ), and a lender/servicer of the U.S. Department of Veterans Affairs ( VA ) and the United States Department of Agriculture ( USDA ).