Vandy Fartaj steps down as CIO of PennyMac Financial, PennyMac Mortgage

PennyMac Financial Services, Inc. (PFSI) and PennyMac Mortgage Investment Trust (PMT) announced that Vandy Fartaj is stepping down from his position as Senior Managing Director and Chief Investment Officer of both PFSI and PMT, in order to pursue other interests. "Vandy has been with Pennymac for nearly 15 years and I am thankful for his long tenure, tireless efforts and the numerous contributions he has made throughout our history, including helping us pioneer lender credit risk transfer transactions and the first mortgage servicing rights securitizations," said Chairman and Chief Executive Officer David Spector. William Chang has been appointed to the role of Senior Managing Director and Chief Capital Markets Officer for PFSI and Senior Managing Director and Chief Investment Officer for PMT.