---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-24-084385"
form_type: "8-K"
ticker: "PFSI"
cik: "0001745916"
company_name: "PennyMac Financial Services, Inc."
filed_at: "2024-07-31T23:59:59+00:00"
generated_at: "2026-05-31T14:26:39.447104+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# PennyMac enters into two $350M VFN repurchase agreements with Mizuho to finance Ginnie Mae MSR assets

## Summary
- Each agreement has a maximum purchase price of $350M; initial term expires July 25, 2026.
- One covers excess servicing spread (Series 2024-MSRVF1); the other covers servicing advance receivables (Series 2020-SPIADVF1).
- PLS must maintain at least $50M outstanding with Mizuho under the servicing spread agreement, plus $50M each with ASP, GS, Nomura.
- Obligations are guaranteed by PNMAC under a new Mizuho Guaranty dated July 25, 2024.
- The facilities are cross-collateralized with other Mizuho financing and include margin call provisions.

## SEC filing metadata
- accession: 0001104659-24-084385
- form_type: 8-K
- ticker: PFSI
- cik: 0001745916
- company_name: PennyMac Financial Services, Inc.
- filed_at: 2024-07-31T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1745916/000110465924084385/0001104659-24-084385-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1745916/000110465924084385/tm2420527d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-24-084385
- JSON: https://secwatch.observer/filing/0001104659-24-084385.json
- Plain text: https://secwatch.observer/filing/0001104659-24-084385.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.