Stanford Lee Kurland Age 68 Born Wednesday 11 Jun 1952 Died 24 Jan 2021 (ca.) Based in the same Los Angeles suburb where Countrywide once flourished, Stanford has also hired at least a dozen top Countrywide executives to man the firm, which is backed by BlackRock and hedge-fund Highfields Capital. 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 1 older and 20 younger executives at Pennymac Mortgage Investment Trust. Mr. Kurland holds a BS from California State University, Northridge. Stanford L. Kurland. Stanford Kurland, who went from being pushed out of the No. 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. 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. Find 18 people named Stanford Kurland along with free Facebook, Instagram, Twitter, and TikTok profiles on PeekYou - true people search. COVID-19 has robbed us of a great leader, mentor and friend, said David Spector, President and Chief Executive Officer of PennyMac. Stanford L. Kurland began his professional career in public accounting in 1975 at Grant Thornton, formerly known as Alexander Grant. PennyMac Mortgage Investment Trust is a mortgage real estate investment trust (REIT) that invests primarily in residential mortgage loans and mortgage-related assets. Stanford Kurland is 67, he's been the Non-Executive Chairman of the Trustee of Pennymac Mortgage Investment Trust since 2020. Looking for Stanford Kurland? He was 68. The spread between what it costs to fund a mortgage loan and what borrowers actually pay is nearly three times as large as usual. 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. 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. But his trials are not o, Alvin Chau made a fortune catering for Chinese gamblers as the authorities turned a blind eye. The most recent stock trade was executed by Scott W. Carnahan on 22 February 2023, trading 1,786 units of PMT stock currently worth $24,093. Executives say they hope to be on pace to finance $30 billion in mortgage loans next year. 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. The price paid by Kurland is an avalanche of rage. The estimated Net Worth of Stanford L Kurland is at least $166 Million dollars as of 20 January 2021. 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. The estimated Net Worth of Stanford L Kurland is at least $177 Million dollars as of 20 January 2021. One of his early assignments was at a mortgage bank called Countrywide Credit Industries and its operating subsidiary Countrywide Acceptance Company. There's a reason these were called predatory loans. That wasn't supposed to happen. Loving father of Dr. Susan Kurland (Dr. David) Rapkin and Kenneth (Amanda) Kurland. You may not use our site or service, or the information provided, to make decisions about employment, admission, consumer credit, insurance, tenant screening or any other purpose that would require FCRA compliance. No wonder one executive describes business as "off-the-charts good". Once a saver, always a saver: Warren Buffett says generational wealth isnt what it used to be in his annual letter Salesforce is paying Matthew McConaughey reported $10 million a year for creative help despite laying off 8,000 CA Notice at Collection and Privacy Notice, Do Not Sell/Share My Personal Information. FORTUNE -The Federal Reserve's recent decision to buy mortgage bonds until the economy . All Rights Reserved. Mr. Kurland has been a member of our Board since our formation in May 2009 and has been our Executive Chairman since January 2017. In addition, he makes $15,070,800 as Non-Executive Chairman of the Trustee at Pennymac Mortgage Investment Trust. Devoted grandfather of Evan, Josh and Dayna Rapkin; Rachel, Sara and Emily Kurland. Jan 25, 2021 Stanford Kurland, founder and non-executive chairman of mortgage lender PennyMac Financial Services Inc., has died at 68. He was duped. He was 68. 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. Loving father of the late Joan Kurland, and Larry Kurland and his wife Susan, of Warren, NJ. 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. Memorial Redwood Mortuary & Cemetery During his tenure at the company, Countrywide grew from just over $1 million dollars in market capitalization to a leading financial services firm with over $25 billion in market value. Fine, Kurland's PennyMac gives the guy in the bungalow next door payments low enough to let him stay. Our Manager, our Servicer, and PNMAC are controlled subsidiaries of PFSI. It all started falling apart when the real estate market slipped. Until last week, no one outside finance had heard of Stanford L. Kurland. - Salt Lake City, 6500 S Redwood Rd, 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. Most recently he sold 31,000 units of PMT stock worth $1,883,560 on 20 January 2021. Mr. Kurland died from complications related to COVID-19 and had been battling brain cancer. The entire PennyMac community mourns the loss of Mr. Kurland, an esteemed industry leader, visionary and friend. It remains a multi-billion-dollar nightmare. But PennyMac is part of the solution. As one consumer group told the New York Times, he's "like the arsonist who sets fire to the house and then buys up the charred remains and resells it". That would make the PennyMac the 12th largest mortgage lender in the country, according to trade publication Inside Mortgage Finance. 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. 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. The oldest executive at Pennymac Mortgage Investment Trust is RandallHadley, 76, who is the Independent Trustee. He says the Pasadena office is not for walk-ins. I am deeply saddened to share the news of Stans passing. On average, Pennymac Mortgage Investment Trust executives and independent directors trade stock every 16 days with the average trade being worth of $70,951. Disclaimer: PeekYou is not a consumer reporting agency per the Fair Credit Reporting Act. The companys website advertises new home loans with rates as low as 3.5%, and has an 800-number to call. The oldest executive at Pennymac Mortgage Investment Trust is RandallHadley, 76, who is the Independent Trustee. MoneyWeek is part of Future plc, an international media group and leading digital publisher. Louis Suburban Chapel is easily accessible from anywhere in the New York metropolitan area. So far it appears to be working. (818) 264-4907, Internet Explorer presents a security risk. In the event, Countrywide staggered on for a year, chalking up billions in losses before it was rescued by Bank of America last July. . Search their Arrest Records, Driving Records, Contact Information, Photos and More 1) Stanford Kurland's Phone & Current Address Her Other Children Stanford Kurland Bio Details 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. None of the executives at PennyMac are directly linked to any of the alleged wrongdoing at Countrywide. 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. Stanford's mailing address filed with the SEC is C/O PENNYMAC FINANCIAL SERVICES, INC., 3043 TOWNSGATE ROAD, WESTLAKE VILLAGE, CA, 91361. By continuing to use our site, you consent to the placement of cookies on your browser and agree to the terms of our Privacy Policy. Mr. Kurland has been a member of our Board since our formation in May 2009 and has been our Executive Chairman since January 2017. None of those Wall Street wizards who had made untold billions on this scheme had calculated a drop in the market. . Some things haven't changed, not least the aggressive tactics of PennyMac's telesales staff, who spend 15 hours a day contacting "the greedy, the unfortunate and the remorseful in thrall to a mortgage that Kurland has bought back", says The First Post. 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 voting interests of Blackrock and Stanford Kurland in PennyMac Financial Services are 22 percent and 11 percent, respectively, which differs from their reported beneficial ownership of Class A common stock because of a dual-class share structure. On average, Stanford trades about 28,493 units every 38 days since 2009. Terms & Conditions. Subscribe to MoneyWeek now and get your first six magazine issues absolutely FREE. Stanford has made over 52 trades of the Pennymac Mortgage Investment Trust stock since 2013, according to the Form 4 filled with the SEC. 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. On average, Pennymac Mortgage Investment Trust executives and independent directors trade stock every 16 days with the average trade being worth of $70,951. But here's the thing, when Countrywide sold him on that loan, he just didn't understand it. Last updated: 22 January 2021 at 7:06pm EST. We look at Taylor Wimpey, Persimmon and Barratt Developments. Stanford Kurland is 67, he's been the Non-Executive Chairman of the Trustee of Pennymac Mortgage Investment Trust since 2020. And for that scam, far more than any poor homeowner, he richly deserves the Creep of the Week Award. Until last week, no one outside finance had heard of Stanford L. Kurland. Outdoor-equipment retailer Yvon Chouinard is the latest in a line of rich benefactors to shun personal aggrandisement in favour of worthy causes. The report found that Brandts former unit handed out hundreds ofsweetheart loans to members of Congress, their staffs and other government employees. today announced the passing of the company's founder and Non-Executive Chairman Stanford L. Kurland. On behalf of all of us at PennyMac, we send our deepest condolences to Stans wife, Sheila, and the entire Kurland family.. He retired from day-to-day responsibilities in 2020 but remained a trusted guide for the company. That's from Margo Saunders, a lawyer with the National Consumer Law Center. Creating the vision , 2. Looking to get away but want to keep costs low? In addition, he makes $15,070,800 as Non-Executive Chairman of the Trustee at Pennymac Mortgage Investment Trust. A recent analysis by the Wall Street Journal found that Countrywide has cost Bank of America, which acquired the giant mortgage lender in 2008, nearly $40 billion in additional costs since the deal was completed, much of it due to subprime and other high-risk loans that Countrywide made at the height of the housing bubble that have since gone bad. 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". That didn't happen. On average, Stanford trades about 28,493 units every 38 days since 2009. But it was under his watch that the predatory practice of peddling 'teasers' (whereby low-income customers were seduced into taking huge mortgages by low 'introductory' interest payments that quickly ballooned) really got going. Then companies like AIG sold insurance on them. Kurland had also been battling. But to others, he's a "subprime creep". 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 L. Kurland serves as Non-Executive Chairman of the Trustee of the Company. 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. But he wasn't. The most recent stock trade was executed by Scott W. Carnahan on 22 February 2023, trading 1,786 units of PMT stock currently worth $24,093. 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 Youve done this before.. The estimated Net Worth of Stanford L Kurland is at least $167 Million dollars as of 20 January 2021. He retired from day-to-day responsibilities at the beginning of 2020 but remained a trusted guide for the company. The center tried to stop abusive lending by the likes of Countrywide, which during the heyday of sub-prime was the largest mortgage lender in the nation but in the past nine months has been sued by several states contending it defrauded borrowers by hawking defective mortgages that quickly went to foreclosure. Beloved husband of the late Miriam Kurland. As of 20 January 2021 he still owns at least 7,564,990 units of Pennymac Mortgage Investment Trust stock. A Patent Pending People Search Process. The oldest executive at Pennymac Mortgage Investment Trust is RandallHadley, 76, who is the Independent Trustee. PennyMac Mortgage Investment Trust announced that company founder and Non-Executive Chairman Stanford Kurland died at age 68 due to complications from COVID-19. Publish your loved ones obituary in any newspaper andLegacy.com. sympathy store. 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