# David Spector

> David A. Spector is chairman and chief executive officer of PennyMac Financial Services and PennyMac Mortgage Investment Trust. A UCLA graduate whose mortgage career began at First Boston in 1985, he worked at Countrywide and Morgan Stanley before helping establish Pennymac in 2008. His current strategy combines mortgage production, servicing, proprietary technology and a pending acquisition of Cenlar’s subservicing business.

- **Role:** Chairman and Chief Executive Officer at PennyMac Financial Services, Inc. and PennyMac Mortgage Investment Trust
- **Organizations:** PennyMac Financial Services, Inc., PennyMac Mortgage Investment Trust, Private National Mortgage Acceptance Company, LLC, Morgan Stanley, Countrywide Financial Corporation, First Boston
- **Education:** Bachelor of Arts, University of California, Los Angeles
- **Known for:** Helped establish Pennymac in 2008 and later became CEO and chairman of both PFSI and PMT., Named a 2025 HousingWire Vanguard., Led PFSI as its total servicing portfolio reached $733.6 billion in unpaid principal balance at December 31, 2025.

## Career timeline

- **1985** — Began his career in First Boston’s Mortgage Finance Group in New York.
- **1990-2006** — Worked at Countrywide, ultimately serving as senior managing director of secondary marketing.
- **2006** — Joined Morgan Stanley in London; subsequently served as co-head of global residential mortgages.
- **2008** — Helped establish Pennymac and served as chief investment officer.
- **2009** — Joined the board of PennyMac Mortgage Investment Trust at its formation.
- **2012** — Joined the board of PennyMac Financial Services in December.
- **2017** — Became chief executive officer of PFSI and PMT in January.
- **2021** — Became chairman of PFSI and PMT in February.

## Achievements

- Helped establish Pennymac in 2008 and later became CEO and chairman of both PFSI and PMT.
- Named a 2025 HousingWire Vanguard.
- Led PFSI as its total servicing portfolio reached $733.6 billion in unpaid principal balance at December 31, 2025.

## Latest updates

- **2026-08** — In an August 10 interview, said the pending Cenlar transaction was expected to close in the fourth quarter and discussed owning servicing technology and accountability for AI.
- **2026-07** — PFSI reported second-quarter net income of $22 million and total servicing UPB of $731 billion; Spector said results fell short of expectations and described cost realignment.
- **2026-06** — Pennymac named AWS its preferred cloud provider and announced expanded generative AI and servicing-platform plans.
- **2026-02** — Pennymac announced an agreement to acquire Cenlar’s subservicing business for $172.5 million upfront, subject to adjustments, plus up to $85 million contingent consideration.

## Links

- Website: https://www.pennymac.com
- LinkedIn: https://www.linkedin.com/in/david-spector-6404355

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Profile page: https://yespress.io/david-spector
Published by YesPress — https://yespress.io
Last updated: 2026-10-21