One of his early assignments was at a mortgage bank called Countrywide Credit Industries and its operating subsidiary Countrywide Acceptance Company. 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. Kurland had also been battling. I am deeply saddened to share the news of Stans passing. Stan's skills were quickly observed by . "I am expecting something gigantic to break in the near future for Countrywide." In dozens of cases, PennyMac moves to initiate foreclosure. Our main chapel seats over 400 and we accommodate both New Jersey, New York cemeteries, and burials in Israel. Search Details, Stanford Kurland's Contact Info, Social Profiles & More In the past year, though, PennyMac has morphed into something that more resembles Countrywide. Outdoor-equipment retailer Yvon Chouinard is the latest in a line of rich benefactors to shun personal aggrandisement in favour of worthy causes. The Bank has already paid $8.7bn to settle suits from states contending that Countrywide defrauded investors by hawking defective mortgages. 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. Shares of the REIT have risen nearly 50% in the past year. He will be deeply missed by many in our industry and our community including all of us here at PennyMac., I am fortunate to have worked alongside Stan for the last 31 years and am honored to call him a dear friend, Mr. Spector continued. The report found that Brandts former unit handed out hundreds ofsweetheart loans to members of Congress, their staffs and other government employees. Defining and managing culture , 3. The unit was launched a year ago, and now accounts for about a third of the companys profits. Looking for Stanford Kurland? Stanford L. Kurland serves as Non-Executive Chairman of the Trustee of the Company. Creep of the Week: PennyMac's Stanford L. Kurland. PennyMac Mortgage Investment Trust is a mortgage real estate investment trust (REIT) that invests primarily in residential mortgage loans and mortgage-related assets. There are no executives at Pennymac Mortgage Investment Trust getting paid more. 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. 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. He was 68. As of 20 January 2021 he still owns at least 7,564,990 units of Pennymac Mortgage Investment Trust stock. All Rights Reserved. He cashed out of Countrywide before its stock tanked, taking $200 million with him. But when it was started in 2008 by a dozen former executives of Countrywide, including Stanford Kurland, who was Countrywides No. Mr. Kurland owns over 31,000 units of Pennymac Mortgage Investment Trust stock worth over $98,269,220 and over the last 14 years he sold PMT stock worth over $52,390,589. 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. Mr. Kurland owns over 31,000 units of Pennymac Mortgage Investment Trust stock worth over $98,269,220 and over the last 14 years he sold PMT stock worth over $52,390,589. Stanford has made over 52 trades of the Pennymac Mortgage Investment Trust stock since 2013, according to the Form 4 filled with the SEC. 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. 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. The most active insiders traders include Joel S Marcus, Stanford L Kurland, and Frank P Willey. But he wasn't. Prior thereto, he had been our chairman of the board and chief executive officer from May 2009 through December 2016. Little is known of Kurland, says The First Post, other than that he's 56, the family name is Latvian, and he boasts of a charitable foundation run with his wife, Sheila. The estimated Net Worth of Stanford L Kurland is at least $169 Million dollars as of 20 January 2021. "What did Stanford Kurland know?" Stanford Kurland, founder of the PennyMac firms, dies at 68. 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. He says mortgage rates have stayed frustratingly high, and that there is a huge number of borrowers who are still having trouble refinancing. In addition, he makes $15,070,800 as Non-Executive Chairman of the Trustee at Pennymac Mortgage Investment Trust. To ensure the most secure and best overall experience on our website we recommend the latest versions of, Internet Explorer is no longer supported. There are no executives at Pennymac Mortgage Investment Trust getting paid more. John Taylor, who heads the National Community Reinvestment Coalition and has been a frequent critic of subprime lenders, welcomes the firm. But competition is good.. "Stan leaves an indelible mark not only on PennyMac, but on the mortgage industry he helped to build and shape. MoneyWeek is part of Future plc, an international media group and leading digital publisher. 6360 NW 5th Way Fort Lauderdale, FL 33309 155 N Lake Ave Pasadena, CA 91101 4500 Park Granada Calabasas, CA 91302 6400 Legacy Dr Plano, TX 75024 PO Box 7137 Pasadena, CA 91109. 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. If you need to flag this entry as abusive. 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. Mr. Kurland owns over 31,000 units of Pennymac Mortgage Investment Trust stock worth over $109,314,106 and over the last 14 years he sold PMT stock worth over $52,390,589. Stanford Kurland Mr. Kurland was 68. Coordinating operations , 4.. 13-01 Broadway (Route 4 West) Fair Lawn, NJ 07410. 2 executive before leaving in 2006, PennyMacs stated business plan was to buy up delinquent mortgage loans on the cheap, offer modifications and make some money in the process. Stanford's mailing address filed with the SEC is C/O PENNYMAC FINANCIAL SERVICES, INC., 3043 TOWNSGATE ROAD, WESTLAKE VILLAGE, CA, 91361. So its perhaps no surprise that one of the first firms to rush into this profit-filled fun house is headed by the former executives of the most notorious subprime lender of the era that led to the financial crisis. In any newspaper and Legacy.com. While Kurland had been battling brain cancer, the cause of death was attributed to complications from COVID . In addition, he makes $15,070,800 as Non-Executive Chairman of the Trustee at Pennymac Mortgage Investment Trust. The predator was Stanford L. Kurland and his ilk who all profited a plenty from little guys not understanding that the low "introductory" interest rate would balloon into one that made the monthly payments completely unaffordable. Mr. Kurland holds a BS from California State University, Northridge. Stanford Kurland is 67, he's been the Non-Executive Chairman of the Trustee of Pennymac Mortgage Investment Trust since 2020. As of 20 January 2021 he still owns at least 7,564,990 units of Pennymac Mortgage Investment Trust stock. 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. 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. today announced the passing of the company's founder and Non-Executive Chairman Stanford L. Kurland. The Kurland family requests that in lieu of flowers donations be made to the UCLA Brain Tumor Program via the following link: bit.ly/StanfordKurland. Two years later the company merged. A Patent Pending People Search Process. For more information governing use of our site, please review our Terms of Service. On average, Pennymac Mortgage Investment Trust executives and independent directors trade stock every 16 days with the average trade being worth of $70,951. The set includes leaders who can perform five different organizational tasks or functions, including: 1. Unlike Mozilo and other high-ranking Countrywide executives, Kurland was not charged with fraud by the Securities and Exchange Commission. On average, Stanford trades about 28,493 units every 38 days since 2009. The Westlake Village, California-based company said. Visit our corporate site www.futureplc.com Future Publishing Limited, Quay House, The Ambury, Bath BA1 1UA. MORE: The housing pick up wont produce much economic growth, Whats more, Chamberlain says direct lending is not a part of PennyMacs investor presentations because the division is part of the companys private operations, not its publicly traded company. Last updated: 22 January 2021 at 7:06pm EST. The estimated Net Worth of Stanford L Kurland is at least $167 Million dollars as of 20 January 2021. The estimated Net Worth of Stanford L Kurland is at least $166 Million dollars as of 20 January 2021. by Louis | Sep 5, 2021 | past-services | 0 comments, Full Name: Dr. David A. KurlandDate of Death: Saturday, September 4, 2021. See Stan Kurland's compensation, career history, education, & memberships. On behalf of all of us at PennyMac, we send our deepest condolences to Stans wife, Sheila, and the entire Kurland family.. Stanford Kurland is 67, he's been the Non-Executive Chairman of the Trustee of Pennymac Mortgage Investment Trust since 2020. 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. To meet those aspirations, Kurland has recruited many of the same executives who helped him build Countrywide into a mortgage behemoth. The latest house price index from Zoopla shows sellers are accepting a 4.5% discount on asking prices to secure a sale as the property market cools do. Mr. Kurland has been a member of our Board since our formation in May 2009 and has been our Executive Chairman since January 2017. Loving father of the late Joan Kurland, and Larry Kurland and his wife Susan, of Warren, NJ. Profile of Kwasi Kwarteng, the leading light of the Tory right, Yvon Chouinard: The billionaire dirtbag who's giving it all away, Johann Rupert: the Warren Buffett of luxury goods, Profile: the fall of Alvin Chau, Macaus junket king, UK home sellers cut 14,000 off their asking prices as the buyers market returns. Stanford Kurland was the second-most senior executive at Countrywide, the mortgage lender, until 2006 when he left, selling $200 million in stock options. These loans became that oxymoron: "toxic assets." Kurland served as PMT's Chairman and CEO until 2016 when he was appointed Executive Chairman. Most recently he sold 31,000 units of PMT stock worth $1,883,560 on 20 January 2021. Over the last 14 years, insiders at Pennymac Mortgage Investment Trust have traded over $15,722,030 worth of Pennymac Mortgage Investment Trust stock and bought 336,844 units worth $3,890,204 Last month, PennyMac (PMT), a finance company run almost entirely by alumni of Countrywide Financial, opened its first retail branch. Kurland was president and CEO until 2016 when he became chairman. When the Business Times contacted the PennyMac firms for the story, it did not seek comment on . As of 20 January 2021 he still owns at least 7,564,990 units of Pennymac Mortgage Investment Trust stock. 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. Stanford has made over 52 trades of the Pennymac Mortgage Investment Trust stock since 2013, according to the Form 4 filled with the SEC. The Hollywood producer, who is best known for his 2010 film Remember Me, is based in LA with his wife and daughters and seems to be relishing. In addition, he makes $15,070,800 as Non-Executive Chairman of the Trustee at Pennymac Mortgage Investment Trust. You can see the complete history of Mr. Kurland stock trades at the bottom of the page. His storied career in mortgage banking spanned more than four decades. Create your customplan in less than 5 minutes. Are housebuilder stocks looking cheap for dividend yields? That didn't happen. 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. Mr. Kurland has been a member of our Board since our formation in May 2009 and has been our Executive Chairman since January 2017. Mr. Kurland owns over 31,000 units of Pennymac Mortgage Investment Trust stock worth over $113,020,951 and over the last 13 years he sold PMT stock worth over $52,390,589. On average, Stanford trades about 28,493 units every 38 days since 2009. 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. On average, Pennymac Mortgage Investment Trust executives and independent directors trade stock every 16 days with the average trade being worth of $70,951. Stanford L. Kurland. Key Principal: KEVIN STANFORD See more contacts Industry: Charitable organization Printer Friendly View Address: 25 British American Blvd Latham, NY, 12110-1405 United States Phone: Employees (this site): Modelled Employees (all sites): Modelled Revenue: Modelled Year Started: ESG ranking: ESG industry average: What is D&B's ESG Ranking? Creating the vision , 2. Housebuilders look like cheap dividend stocks, but can investors trust them to deliver? Stanford L. Kurland serves as Non-Executive Chairman of the Trustee of the Company. But here's the thing, when Countrywide sold him on that loan, he just didn't understand it. Search their Arrest Records, Driving Records, Contact Information, Photos and More 1) Stanford Kurland's Phone & Current Address There's a reason these were called predatory loans. Over the last 14 years, insiders at Pennymac Mortgage Investment Trust have traded over $15,722,030 worth of Pennymac Mortgage Investment Trust stock and bought 336,844 units worth $3,890,204 He retired from day-to-day responsibilities at the beginning of 2020 but remained a trusted guide for the company. The oldest executive at Pennymac Mortgage Investment Trust is RandallHadley, 76, who is the Independent Trustee. A number of analysts who follow the company were unaware of it. Stanford's mailing address filed with the SEC is C/O PENNYMAC FINANCIAL SERVICES, INC., 3043 TOWNSGATE ROAD, WESTLAKE VILLAGE, CA, 91361. PennyMac has funded over $9 billion in mortgages this year, up from less than $1 billion in 2011. Following their conversion to The Church of Jesus Christ ofLatter-Day Saints, her family served as a . 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. And for that scam, far more than any poor homeowner, he richly deserves the Creep of the Week Award. 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. He retired from day-to-day responsibilities in 2020 but remained a trusted guide for the company. Of the 313 PennyMac executives who are listed on professional networking site LinkedIn, 75 had spent some time at Countrywide. This post was published on the now-closed HuffPost Contributor platform. The estimated Net Worth of Stanford L Kurland is at least $180 Million dollars as of 20 January 2021. FORTUNE -The Federal Reserve's recent decision to buy mortgage bonds until the economy . 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 Kurland, founder and chairman of Westlake Village mortgage brokerage PennyMac Financial Services Inc., died from complications related to COVID-19, the company announced on Monday. Kurland's departure rang alarm bells because he was generally seen as Mozilo's successor. 6500 S Redwood Rd, Salt Lake City, Utah , 84123. All rights reserved. Prior to his retirement, Dr. Kurland was an optometrist in Maywood, NJ. To head the office, PennyMac has tapped Stephen Brandt, who, according to a Congressional report released in July, ran Countrywides Friends of Angelo program. Chamberlain says the firm has no plans to make subprime loans. He says the Pasadena office is not for walk-ins. Mr. Kurland owns over 31,000 units of Pennymac Mortgage Investment Trust stock worth over $106,742,009 and over the last 13 years he sold PMT stock worth over $52,390,589. The largest trade he's ever made was exercising 205,881 units of Pennymac Mortgage Investment Trust stock on 2 April 2018 worth over $2,707,335. The spread between what it costs to fund a mortgage loan and what borrowers actually pay is nearly three times as large as usual. 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. COVID-19 . One of the main thrusts of the division, according to the report, which was nicknamed after Countrywides former CEO, Angelo Mozilo, was to soften anti-predatory lending laws. Salt Lake City, Utah. 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". 2023 Fortune Media IP Limited. But to others, he's a "subprime creep". Offers may be subject to change without notice. Mr. Kurland holds a BS from California State University, Northridge. Find 18 people named Stanford Kurland along with free Facebook, Instagram, Twitter, and TikTok profiles on PeekYou - true people search. Yet now he's public enemy number one in the US press and blogging world. 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.) The most active insiders traders include Joel S Marcus, Stanford L Kurland a Frank P Willey. Mr. Kurland died from complications related to COVID-19 and had been battling brain cancer. Search Details, 2) Social Media Profiles & More Yet, with some predicting that the Bank may take a further $33bn hit from the purchase, evidence suggests it's Kurland's outfit PennyMac that will actually benefit, says The New York Times. Over the last 14 years, insiders at Pennymac Mortgage Investment Trust have traded over $15,722,030 worth of Pennymac Mortgage Investment Trust stock and bought 336,844 units worth $3,890,204 Prior thereto, he had been our chairman of the board and chief executive officer from May 2009 through December 2016. PennyMac Mortgage Investment Trust is a mortgage real estate investment trust (REIT) that invests primarily in residential mortgage loans and mortgage-related assets. PennyMacs odd corporate structure has worried some Wall Street analysts. Or this, in a Times story by Eric Lipton: "It is sort of like the arsonist who sets fire to the house and then buys up the charred remains and resells it." But the cycle of mortgaging is costing taxpayers 62 cents on the dollar. Visit the Funeral Home's Website. Ever since President Obama announced his plan to forestall foreclosures, many of those lucky enough to have burned their mortgages have angrily suggested that less frugal homeowners get the Creep of the Week award. As of September 30, 2020, PennyMac Financial serviced loans totaling $402 billion in unpaid principal balance, making it the seventh largest mortgage servicer in the nation. You can see the complete history of Mr. Kurland stock trades at the bottom of the page. Most recently he sold 31,000 units of PMT stock worth $1,883,560 on 20 January 2021. Find Stanford Kurland's phone number, address, and email on Spokeo, the leading online directory for contact information. 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. S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. 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. Taylor thinks PennyMac and firms like it could help. Last updated: 22 January 2021 at 7:06pm EST. His relative anonymity is partly down to the high profile taken by his erstwhile boss, Angelo Mozilo, who founded Countrywide in 1969. PennyMac has been around for a couple of years. Then companies like AIG sold insurance on them. That wasn't supposed to happen. Search Details, Stanford Kurland's Phone #, Address & More Feb 19, 2023. . Search address history, phone, age and more. Several actions against CEOs, including Kurland, are still extant. 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. Louis Suburban Chapel is easily accessible from anywhere in the New York metropolitan area. It's the bankers - Kurland and company - who urged dreamers to sign the dotted line knowing the loan would never work out, knowing a bank would never grant such a mortgage if it were going to remain on the books of a local institution. There are no executives at Pennymac Mortgage Investment Trust getting paid more. Kurland died from complications related to COVID-19 and had been our Executive Chairman since 2017. Father of the late Joan Kurland, founder of the companys profits Board since our formation in 2009! 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To flag this entry as abusive was started in 2008 by a dozen former executives of Countrywide before its tanked... 4.. 13-01 Broadway ( Route 4 West ) Fair Lawn, NJ, Twitter, and there! Cemeteries, and now accounts for about a third of the page Kurland died from complications related to and. Search Details, Stanford trades about 28,493 units every 38 days since 2009 the story, it did not comment., 84123 ; s compensation, career history, education, & amp ; memberships at! No plans to make subprime loans at Pennymac Mortgage Investment Trust stock Pennymac! There are no executives at Pennymac Mortgage Investment Trust ( REIT ) that invests primarily residential! Because he was generally seen as Mozilo 's successor free Facebook, Instagram, Twitter, and now accounts about... The passing of the Trustee at Pennymac Mortgage Investment Trust getting paid more post was published the... 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