Risk factors
PennyMac Financial Services (PFSI) risk factors
Item 1A of every PennyMac Financial Services, Inc. 10-K on file, and what changed from one year to the next. Readings are automated and can be wrong; check the filing for the exact wording.
- FY2025 10-K risk factors65 risks10 new7 dropped24 reworded
New risks emphasize servicing-agreement termination, subservicing compliance, ratings, and dependence on PMT for correspondent production.
Filed Feb 20, 2026 - FY2024 10-K risk factors62 risks
PFSI relies heavily on warehouse facilities and repurchase agreements to fund mortgage loans instead of traditional bank deposits. Mortgage servicing rights expose the company to prepayment, delinquency, interest rate fluctuations, and regulatory termination risks. Extensive federal, state, and GSE regulations heavily dictate operational compliance and minimum net worth and liquidity requirements.
Filed Feb 19, 2025