# Stanford L. Kurland

> Stanford L. Kurland was the founder of PennyMac and a former chairman and chief executive. An accountant by training, he spent 27 years at Countrywide Financial before leaving in September 2006 and founding PennyMac in January 2008 with institutional backing. His career combined mortgage operations, the growth of two publicly traded PennyMac businesses, scrutiny of his Countrywide record and a leadership succession to longtime colleague David Spector. He died in January 2021.

- **Role:** Mortgage banking executive and founder
- **Organizations:** PennyMac Financial Services, Inc., PennyMac Mortgage Investment Trust, Private National Mortgage Acceptance Company, LLC, Countrywide Financial Corporation, Grant Thornton
- **Education:** B.S. in Business Administration and Accounting, California State University, Northridge
- **Known for:** Founded PennyMac during the mortgage market crisis in 2008., Helped develop PennyMac Financial Services and PennyMac Mortgage Investment Trust into two publicly traded businesses., PennyMac Financial reported $182 million in pretax income in 2013, 54 percent above 2012.

## Career timeline

- **1975** — Began in public accounting at the firm now known as Grant Thornton, practicing as a CPA.
- **1979** — Joined Countrywide in January after an early accounting assignment involving the company.
- **1979-2006** — Served in senior Countrywide positions including CFO, president, COO and director.
- **2006** — Left Countrywide in September.
- **2007** — Called David Spector in October about joining a new mortgage company in Southern California.
- **2008** — Founded PennyMac in January with backing from BlackRock Mortgage Ventures and Highfields Capital Management.
- **2009** — Became chairman of PennyMac Mortgage Investment Trust, which went public that year.
- **2013** — PennyMac Financial Services commenced NYSE trading on May 8.
- **2016** — Announced a leadership transition in December, with David Spector to become CEO effective January 1, 2017.
- **2017** — Became executive chairman as Spector became CEO.
- **2020** — Retired from day-to-day responsibilities at the beginning of the year and remained non-executive chairman.
- **2021** — Died on January 23; PennyMac announced his passing on January 25.

## Achievements

- Founded PennyMac during the mortgage market crisis in 2008.
- Helped develop PennyMac Financial Services and PennyMac Mortgage Investment Trust into two publicly traded businesses.
- PennyMac Financial reported $182 million in pretax income in 2013, 54 percent above 2012.
- The company reported more than 6,000 employees in its January 2021 founder announcement.
- Helped implement strategic planning and executive development at Countrywide, as recalled by adviser Eric Flamholtz.

## Latest updates

- **2026-06** — The fifth annual Stanford L. Kurland Memorial Golf Classic was scheduled for June 7-8, 2026; the event preserves his name and memory.
- **2025-08** — David Spector’s Voice of the Industry reflection revisited Kurland’s October 2007 recruitment call and the founding of PennyMac.
- **2021-01** — PennyMac announced its founder’s passing on January 25; a later proxy filing gives January 23 as the date of death.

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Profile page: https://yespress.io/stanford-l-kurland
Published by YesPress — https://yespress.io
Last updated: 2026-10-13