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. In the past year, though, PennyMac has morphed into something that more resembles Countrywide. On behalf of all of us at PennyMac, we send our deepest condolences to Stans wife, Sheila, and the entire Kurland family.. 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. In addition, he makes $15,070,800 as Non-Executive Chairman of the Trustee at Pennymac Mortgage Investment Trust. The entire PennyMac community mourns the loss of Mr. Kurland, an esteemed industry leader, visionary and friend. The estimated Net Worth of Stanford L Kurland is at least $177 Million dollars as of 20 January 2021. Founded in 2008, the company is recognized as a leader in the U.S. residential mortgage industry and employs over 6,000 people across the country. PennyMac has funded over $9 billion in mortgages this year, up from less than $1 billion in 2011. But he wasn't. Stanford L. Kurland. Stanford Kurland is 67, he's been the Non-Executive Chairman of the Trustee of Pennymac Mortgage Investment Trust since 2020. "Greed," as one well-placed lawyer remarks, "is a growth industry." Once a saver, always a saver: Warren Buffett says generational wealth isnt what it used to be in his annual letter Salesforce is paying Matthew McConaughey reported $10 million a year for creative help despite laying off 8,000 CA Notice at Collection and Privacy Notice, Do Not Sell/Share My Personal Information. PennyMac, and other firms like it, are paying around 38 cents on the dollar for bad mortgages that the government bought with taxpayers' cash from failing banks. "You could say he's brilliant," says Charles Laurence on The First Post: few have shown such agility in exploiting first boom, then bust. Stanford has made over 52 trades of the Pennymac Mortgage Investment Trust stock since 2013, according to the Form 4 filled with the SEC. Loving father of the late Joan Kurland, and Larry Kurland and his wife Susan, of Warren, NJ. Now he's back. 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. Stanford has made over 52 trades of the Pennymac Mortgage Investment Trust stock since 2013, according to the Form 4 filled with the SEC. "It is horrible what transpired in the industry," he sighs. . The person who answers says he works for PennyMac. For about 38 cents on the dollar, PennyMac buys bad mortgages from the federal government -- which got them with taxpayer money from failing banks. Mr. Kurland holds a BS from California State University, Northridge. today announced the passing of the company's founder and Non-Executive Chairman Stanford L. Kurland. Contributors control their own work and posted freely to our site. Dr. David A. Kurland, age 100, of Paramus, NJ, formerly a longtime resident of River Edge, NJ, passed away peacefully on Saturday morning, September 4, 2021 at Brightview Senior Living, in Paramus, NJ. Kevin Chamberlain Then companies like AIG sold insurance on them. 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. Yet now he's public enemy number one in the US press and blogging world. There are 1 older and 20 younger executives at Pennymac Mortgage Investment Trust. That wasn't supposed to happen. While Trevor wed nutritionist Tracey Kurland in 2019. The largest trade he's ever made was exercising 205,881 units of Pennymac Mortgage Investment Trust stock on 2 April 2018 worth over $2,674,394. sympathy store. Several actions against CEOs, including Kurland, are still extant. 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. In addition, he makes $15,070,800 as Non-Executive Chairman of the Trustee at Pennymac Mortgage Investment Trust. Disclaimer: PeekYou is not a consumer reporting agency per the Fair Credit Reporting Act. Stanford's mailing address filed with the SEC is C/O PENNYMAC FINANCIAL SERVICES, INC., 3043 TOWNSGATE ROAD, WESTLAKE VILLAGE, CA, 91361. While Kurland had been battling brain cancer, the cause of death was attributed to complications from COVID . 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 . 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. Stanford's mailing address filed with the SEC is C/O PENNYMAC FINANCIAL SERVICES, INC., 3043 TOWNSGATE ROAD, WESTLAKE VILLAGE, CA, 91361. Proud grandfather of Jennifer, and her husband Geoff, Adam and Kyle. Stanford L. Kurland serves as Non-Executive Chairman of the Trustee of the Company. None of those Wall Street wizards who had made untold billions on this scheme had calculated a drop in the market. On average, Stanford trades about 28,493 units every 38 days since 2009. With his passion and vision, Stan led and built two of the largest and most influential companies in our industry, making home loans to millions of Americans. As of 20 January 2021 he still owns at least 7,564,990 units of Pennymac Mortgage Investment Trust stock. Publish your loved ones obituary in any newspaper andLegacy.com. Stanford Kurland is 67, he's been the Non-Executive Chairman of the Trustee of Pennymac Mortgage Investment Trust since 2020. His firm, PennyMac, is buying back those same toxic mortgages from the US government and ailing banks for pennies in the dollar and Kurland is making millions all over again. There are 1 older and 20 younger executives at Pennymac Mortgage Investment Trust. 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. Suddenly, no one knew the value of the "bundles," because each contained an unknown number of good and bad mortgages. In addition, he makes $15,070,800 as Non-Executive Chairman of the . 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". The estimated Net Worth of Stanford L Kurland is at least $167 Million dollars as of 20 January 2021. Mortgage brokers like Kurland pushed these loans because they knew they were going to immediately dump that trash. He retired from day-to-day management in early 2020. Stan Kurland Escaped Wreckage of Countrywide Financial - WSJ News Corp is a global, diversified media and information services company focused on creating and distributing authoritative and. A Patent Pending People Search Process. (818) 264-4907, Internet Explorer presents a security risk. Investors Now he is in one . 1) Stanford Kurland's Phone & Current Address, Stanford Kurland's Phone #, Address & More, Stanford Kurland's Contact Info, Social Profiles & More. Start a FameChain Other Partners Professional Partners Siblings Other Partners Professional Partners Siblings Sheila Kurland Start a FameChain His Other Children Children Together Tracey Engelson born 1986, age 35 (approx.) Mr. Kurland owns over 31,000 units of Pennymac Mortgage Investment Trust stock worth over $101,597,816 and over the last 14 years he sold PMT stock worth over $52,390,589. Loving father of Dr. Susan Kurland (Dr. David) Rapkin and Kenneth (Amanda) Kurland. PennyMac runs a public mortgage REIT, but not all of the companys business and profits go to the REIT. Coordinating operations , 4.. On average, Pennymac Mortgage Investment Trust executives and independent directors trade stock every 16 days with the average trade being worth of $70,951. 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. Loving father of the late Joan Kurland, and Larry Kurland and his wife Susan, of Warren, NJ. He was duped. As of 20 January 2021 he still owns at least 7,564,990 units of Pennymac Mortgage Investment Trust stock. asked a blogger on the Irreverent Stocklist in early 2007. To ensure the most secure and best overall experience on our website, we recommend the latest versions of. Our main chapel seats over 400 and we accommodate both New Jersey, New York cemeteries, and burials in Israel. The company expects to hire as many as 100 employees for the office, which is in Pasadena, California, including loan officers and underwriters. Kurland, formerly the firm's auditor, joined the group in the 1970s and was generally known as the "soft-spoken" number two. John Taylor, who heads the National Community Reinvestment Coalition and has been a frequent critic of subprime lenders, welcomes the firm. You can see the complete history of Mr. Kurland stock trades at the bottom of the page. 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. Most recently he sold 31,000 units of PMT stock worth $1,883,560 on 20 January 2021. Offers may be subject to change without notice. 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. 8 records for Stanford Kurland. When the Business Times contacted the PennyMac firms for the story, it did not seek comment on . But it was under his watch that the predatory practice of peddling 'teasers' (whereby low-income customers were seduced into taking huge mortgages by low 'introductory' interest payments that quickly ballooned) really got going. He presents this as an act of redemption. 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. There are 1 older and 20 younger executives at Pennymac Mortgage Investment Trust. Our Manager, our Servicer, and PNMAC are controlled subsidiaries of PFSI. Fine, Kurland's PennyMac gives the guy in the bungalow next door payments low enough to let him stay. He was 68. The oldest executive at Pennymac Mortgage Investment Trust is RandallHadley, 76, who is the Independent Trustee. The largest trade he's ever made was exercising 205,881 units of Pennymac Mortgage Investment Trust stock on 2 April 2018 worth over $2,674,394. Prior thereto, he had been our chairman of the board and chief executive officer from May 2009 through December 2016. 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. 12 Mar 2009. On average, Pennymac Mortgage Investment Trust executives and independent directors trade stock every 16 days with the average trade being worth of $70,951. Yet now he's public enemy number one in the US press and blogging world. Known Addresses for Stanford 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 those sub-prime mortgages - both at the expense of taxpayers. 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. 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. To head the office, PennyMac has tapped Stephen Brandt, who, according to a Congressional report released in July, ran Countrywides Friends of Angelo program. The estimated Net Worth of Stanford L Kurland is at least $174 Milion dollars as of 20 January 2021. " I am deeply saddened to share the news of Stan's passing. Amelia Dominguez Theodosis, 76, of Lehi, Utah passed away on Sunday February 19, 2023 in Salt LakeCity, UT surrounded by her loved ones. There was certainly a huge clue in the fact that, by now, executives had cashed in around $800m in share options. "Stan leaves an indelible mark not only on PennyMac, but on the mortgage industry he helped to build and shape. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice| Do Not Sell/Share My Personal Information| Ad Choices Are housebuilder stocks looking cheap for dividend yields? Along with Kurland, PennyMacs chief operating officer, chief financial officer and chief credit officer all hail from Countrywide, as do the firms head of marketing, head of consumer lending and head of human resources. The Bank has already paid $8.7bn to settle suits from states contending that Countrywide defrauded investors by hawking defective mortgages. Yes, some applicants lied about their income to qualify for loans, but often that was encouraged by loan processors, who made money on each loan they sold. - Salt Lake City, 6500 S Redwood Rd, In dozens of cases, PennyMac moves to initiate foreclosure. Our Manager, our Servicer, and PNMAC are controlled subsidiaries of PFSI. . "What did Stanford Kurland know?" Some things haven't changed, not least the aggressive tactics of PennyMac's telesales staff, who spend 15 hours a day contacting "the greedy, the unfortunate and the remorseful in thrall to a mortgage that Kurland has bought back", says The First Post. His relative anonymity is partly down to the high profile taken by his erstwhile boss, Angelo Mozilo, who founded Countrywide in 1969. . On average, Stanford trades about 28,493 units every 38 days since 2009. He was 68.Kurland had been battling brain cancer as well."COVID-19 has robbed us of a great leader, mentor and friend," David Spector, chief executive . 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. For more information governing use of our site, please review our Terms of Service. There are no executives at Pennymac Mortgage Investment Trust getting paid more. Our Manager, our Servicer, and PNMAC are controlled subsidiaries of PFSI. PMT is externally managed by PNMAC Capital Management, LLC, a wholly-owned subsidiary of PennyMac Financial Services, Inc. Pennymac Mortgage Investment Trust executives and other stock owners filed with the SEC include: Track performance, allocation, dividends, and risks, Annotate, download XLSX & look up similar tables, Filter, compare, and track coins & tokens, insiders at Pennymac Mortgage Investment Trust, Stocks and cryptocurrency portfolio tracker. Of the 313 PennyMac executives who are listed on professional networking site LinkedIn, 75 had spent some time at Countrywide. Stanford Kurland is 67, he's been the Non-Executive Chairman of the Trustee of Pennymac Mortgage Investment Trust since 2020. Kurland has been sued by former shareholders of Countrywide, but PennyMac spokesman Chamberlain says Kurland left Countrywide before much of the practices alleged in the suits occurred. 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. Find 18 people named Stanford Kurland along with free Facebook, Instagram, Twitter, and TikTok profiles on PeekYou - true people search. But PennyMac is part of the solution. In fact, he thinks he's doing America a favour. Ultimately, it was the banks that weren't requiring income verification or any income information at all. Mr. Kurland has been a member of our Board since our formation in May 2009 and has been our Executive Chairman since January 2017. And profits go to the REIT enough to let him stay of PFSI Credit reporting.... Person who answers says he works for Pennymac the `` bundles, '' he sighs 1 older 20. 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