{"schema_version":"secwatch.filing_event.v1","accession":"0001104659-23-089807","form_type":"8-K","ticker":"PFSI","cik":"0001745916","company_name":"PennyMac Financial Services, Inc.","filed_at":"2023-08-10T23:59:59+00:00","discovered_at":"2026-05-14T18:03:35.071545+00:00","generated_at":"2026-06-11T18:29:26.153020+00:00","sec_items":["1.01","2.03","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.55,"calibrated_materiality_score":0.55,"confidence":"high","headline":"PennyMac enters into $350M repurchase agreements with Nomura for Ginnie Mae MSR financing","bullets":["Two new variable funding note repurchase agreements with Nomura, each with $350M max purchase price.","Agreements finance Ginnie Mae mortgage servicing rights and related excess servicing spread and servicing advance receivables.","Initial term expires August 5, 2024; PLS must maintain minimum $50M outstanding with Nomura under each agreement.","Obligations guaranteed by PNMAC; cross-collateralized with other Nomura facilities.","Draws on servicing advance agreements must be pro rata across Nomura and existing syndicated facilities."],"urls":{"canonical":"https://secwatch.observer/filing/0001104659-23-089807","json":"https://secwatch.observer/filing/0001104659-23-089807.json","markdown":"https://secwatch.observer/filing/0001104659-23-089807.md","text":"https://secwatch.observer/filing/0001104659-23-089807.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1745916/000110465923089807/0001104659-23-089807-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1745916/000110465923089807/tm2323387d1_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-11T18:29:26.153020+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"3bf70c7ae511d48bdfc4ee61bfb5b5e20aa80e3e","claim":"PennyMac Financial Services, Inc. entered into Series 2023-MSRVF2 Master Repurchase Agreement with Nomura Corporate Funding Americas, LLC valued at $350,000,000 (effective 2023-08-04).","evidence_excerpt":"On August 4, 2023, PennyMac Financial Services, Inc. (the “Company”), through two of its indirect, wholly owned subsidiaries, PNMAC GMSR ISSUER TRUST (“Issuer Trust”) and PennyMac Loan Services, LLC (“PLS”), entered into two new variable funding note (“VFN”) repurchase agreements, as part of the structured finance transaction that PLS uses to finance Ginnie Mae mortgage servicing rights and related excess servicing spread and servicing advance receivables.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1745916/000110465923089807/0001104659-23-089807-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"Nomura Corporate Funding Americas, LLC"},{"label":"Value","value":"$350,000,000"},{"label":"Effective","value":"2023-08-04"}],"fact_type":"material_agreement"},{"claim_id":"7a039e62197370e61c6189ae2533bebd9e99e27f","claim":"PennyMac Financial Services, Inc. entered into Series 2020-SPIADVF1 Master Repurchase Agreement with Nomura Corporate Funding Americas, LLC valued at $350,000,000 (effective 2023-08-04).","evidence_excerpt":"The Company entered into (i) a Series 2023-MSRVF2 Master Repurchase Agreement by and among PLS, as seller, Nomura Corporate Funding Americas, LLC, as administrative agent and as a buyer (“Nomura”) (the “Nomura Servicing Spread Agreement”), related to the servicing spread, and (ii) a Series 2020-SPIADVF1 Master Repurchase Agreement by and among PLS, as seller, and Nomura, as administrative agent and buyer (the “Nomura SAR Agreement”), related to the servicing advance receivables.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1745916/000110465923089807/0001104659-23-089807-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"Nomura Corporate Funding Americas, LLC"},{"label":"Value","value":"$350,000,000"},{"label":"Effective","value":"2023-08-04"}],"fact_type":"material_agreement"},{"claim_id":"7d67c99cdc8f76b55e874c442d8c0066c25004c9","claim":"PennyMac Financial Services, Inc. entered into Guaranty by Private National Mortgage Acceptance Company, LLC with Nomura Corporate Funding Americas, LLC valued at See agreement (effective 2023-08-04).","evidence_excerpt":"The obligations of PLS under the Nomura Servicing Spread Agreement and the Nomura SAR Agreement are guaranteed in full by PNMAC under the Guaranty by Private National Mortgage Acceptance Company, LLC, as guarantor, dated as of August 4, 2023 (“Nomura Guaranty”).","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1745916/000110465923089807/0001104659-23-089807-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Counterparty","value":"Nomura Corporate Funding Americas, LLC"},{"label":"Value","value":"See agreement"},{"label":"Effective","value":"2023-08-04"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}