Nonbank Update: PennyMac Financial Services

New York | In this latest edition of the Premium Service of The Institutional Risk Analyst, we take a look at the Q3 2020 results for PennyMac Financial Services (NYSE:PFSI), which is the manager of the REIT, PennyMac Mortgage Investment Trust (NYSE:PMT). PFSI is one of the best performers in the residential mortgage industry. The firm's stock routinely traded at or above book value even before the current low interest rate environment.

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