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PennyMac Financial Services (PFSI +8%) flies after Lee Cooperman's Omega Advisors discloses a...

PennyMac Financial Services (PFSI +8%) flies after Lee Cooperman's Omega Advisors discloses a 21.6% stake in the just-IPOed mortgager company founded by former Countrywide exec (and PMT CEO) Stan Kurland.
Comments (1)
  • jmf3210
    , contributor
    Comments (107) | Send Message
     
    What does this do to PMT? I worry it now becomes a mere milk cow for PFSI. Will Mr. Kurland leave enough income for PMT to continue its 9+% dividend?
    I also wonder if we are seeing a rotation out of PMT into PFSI. From recent SEC filings it appears virtually all PMT executives are buying into its management shares since that seems to be where the PMT revenues will flow.
    20 May 2013, 05:19 PM Reply Like
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