PennyMac Names Paul Szymanski Head of Warehouse Lending
Private National Mortgage Acceptance Company LLC (PennyMac) has announced that Paul Szymanski will join the firm as managing director of warehouse lending. In his role, Szymanski will help manage the PennyMac's correspondent customer relationships, while building out and developing warehouse lending capabilities for the company and PennyMac Mortgage Investment Trust. Szymanski joins PennyMac from Bank of America where he most recently served as senior vice president, warehouse lending executive for Bank of America Home Loans. "Paul is an experienced and highly respected executive who has helped build one of the largest warehouse lending businesses over the past decade," said Stan Kurland, chairman and chief executive officer of PennyMac. "We are excited to have Paul join our Correspondent Lending Group and help Doug Jones, our chief correspondent lending officer, build PennyMac's correspondent and warehouse lending capabilities. Developing the ability to provide warehouse financing to our correspondent business partners creates a lasting and mutually beneficial relationship as part of our long-term strategy for our Correspondent Lending Group. These relationships also will help generate attractive investment assets for PMT at appropriate return levels." Szymanski joined Countrywide Credit Industries, a predecessor to Bank of America Home Loans, in 1998. Prior to Countrywide, Szymanski was chief financial officer at Aurora Loan Services and head of finance at Harbourton Mortgage Companies. He also spent several years in the national mortgage banking practice of Ernst & Young in Houston, Texas. He holds a BS in Accounting from the University of Florida.