PennyMac Financial Services(PFSI) - 2021 Q3 - Earnings Call Presentation

Financial Performance - Net income was $249.3 million, with diluted earnings per share (EPS) of $3.80, and an annualized return on average common stockholders' equity (ROE) of 29%[5] - The company repurchased 4.2 million shares of its common stock at a cost of $257.3 million in 3Q21, and an additional 1.4 million shares in October at a cost of $89.7 million[5] Production Segment - Production segment pretax income was $330.6 million, up 35% from 2Q21 but down 46% from 3Q20[5] - Consumer direct lock volume reached a record $16.3 billion in UPB, up 16% from 2Q21 and 50% from 3Q20[5] - Total loan acquisitions and originations were $59.1 billion in UPB, down 4% from 2Q21 but up 9% from 3Q20[5] Servicing Segment - Servicing segment pretax income was $8.0 million, down from $30.9 million in 2Q21 and $111.7 million in 3Q20[7] - Servicing portfolio grew to $495.4 billion in UPB, up 5% from June 30, 2021, and 23% from September 30, 2020[7] - MSR fair value changes and hedging results impacted pretax income by $(151.9) million, or $(1.70) in earnings per share[7] Investment Management Segment - Investment Management segment pretax income was $1.0 million, down from $4.1 million in 2Q21 and $3.3 million in 3Q20[7] - Net assets under management (AUM) were $2.5 billion, up 6% from June 30, 2021, and 9% from September 30, 2020[7]