PennyMac, Run by Ex-Countrywide President, Files Plans for IPO
PennyMac Financial Services Inc., the residential mortgage company founded by former Countrywide Financial Corp. president Stanford L. Kurland, filed for a public offering of as much as $287.5 million.
Plans to sell Class A shares in the Moorpark, Calif.-based company were outlined in a regulatory filing today.
The price per share and New York Stock Exchange ticker symbol weren’t cited.
Kurland, the firm’s chairman and chief executive officer, was president and chief operating officer of Countrywide until September 2006, according to the filing.