As chairman and CEO, David Spector is a vanguard of innovation in the mortgage industry, leveraging Pennymac’s comprehensive, tech-enabled platform to serve over 5 million homeowners. Having built the company into the second-largest home loan producer, Spector is ushering in a new era of growth driven by core industry expertise, forward-looking vision, and a continued focus on delivering exceptional value to Pennymac customers.
Spector’s leadership has earned him trust as a trusted advisor to policymakers, engaging with them to provide insights from Pennymac on market trends and support for key legislation. Under his guidance, Pennymac supported HR 1815 for VA borrower assistance and HR 2808 to reduce unwanted communications in mortgage transactions.
One of Spector’s strategic initiatives was securing Pennymac’s first-ever sports partnership, becoming the Official Mortgage Supporter of the 2026 and 2028 U.S. Olympic and Paralympic Games. This aligns with the company’s values of hard work, dedication, and excellence, creating a deeper emotional connection with the inspiring journeys of athletes.
Under Spector’s leadership, Pennymac ranks as the #1 correspondent aggregator, #2 overall lender, and #3 wholesale lender. His vision integrates philanthropy into Pennymac’s corporate culture, demonstrated by distributing $2.4 million to over 1,500 charities in 2024. Spector also co-leads the Stanford L. Kurland Memorial Golf Classic, raising over $4.6 million for UCLA Brain Tumor Center research.
Spector’s contributions extend to supporting the MBA Opens Doors Foundation and implementing a Volunteer Grants program. His decisive leadership during tough times, including the Southern California wildfires, empowered employees through initiatives like a 5:1 match campaign for recovery efforts.
In the past year, Spector steered Pennymac through a challenging market, maintaining dominance in correspondent lending with a 20% market share and $100 billion UPB acquired. His strategic expansion grew the servicing portfolio by 11% year-over-year, reaching $700 billion UPB. Investing in AI and technology, Spector enhanced customer experience, ensuring consistent profitability and strong financial performance for Pennymac.
What’s the best piece of advice you’ve ever received?
Always be present.
Name:
David Spector
Title:
Chairman and CEO
Company Name:
PENNYMAC