Mortgage Servicing

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Heavy Hitters Bankroll Former Countrywide President’s Distressed Mortgage Play 

Mar 24, 2008By

The latest big name to get back into subprime is none other than Stanford Kurland, Countrywide’s former president and COO — Kurland leads a group of well-heeled industry execs headlining a new distressed mortgage purchaser/servicer, named the Private National Mortgage Acceptance Company, LLC. That’s PennyMac for short, in an interesting play on GSE nomenclature.

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Updated 11 months ago