Company Overview of Private National Mortgage Acceptance Company, LLC

Private National Mortgage Acceptance Company, LLC announced that it will be opening a new facility in Pasadena, California to expand the consumer direct mortgage lending operations of its subsidiary, PennyMac Loan Services. The facility encompasses a whole floor of one of the Corporate Center buildings on South Lake Avenue, spanning almost 21,000 square feet and will eventually hold approximately 85 to 100 PennyMac employees.

Private National Mortgage Acceptance Company, LLC announced that it has opened a new facility in Tampa, Florida, to provide fulfillment support in connection with its growing correspondent operations. The facility will hold approximately 100 PennyMac employees comprised of underwriters, appraisers, and auditors supporting the fulfillment of newly originated prime conventional, FHA/VA, and jumbo loans.

Private National Mortgage Acceptance Company, LLC announced that Jim Follette and Kim Nichols will join the company in its Correspondent Lending Group. Jim will become its Managing Director, Correspondent Fulfillment, effective immediately. In this role, Follette will help manage the company's correspondent loan acquisition platform for the company and PennyMac Mortgage Investment Trust. This includes all aspects of acquisition workflow, loan level credit and appraisal. Jim will also be responsible for all customer relationships in the loan acquisition process. Follette joins PennyMac from Bank of America where he most recently served as Senior Vice President for Bank of America Home Loans. Kim Nichols will become Regional Sales Manager for correspondent lending for the western region, effective immediately. Kim joins PennyMac with over 20 years of experience in the mortgage industry. She joins PennyMac from Bank of America, where she spent the past 4 years as Vice President, Regional Sales Manager, Institutional Mortgage Services.