September 21, 2017 4:03 AM ET

Thrifts and Mortgage Finance

Company Overview of Private National Mortgage Acceptance Company, LLC

Company Overview

Private National Mortgage Acceptance Company, LLC operates as an asset management company that acquires and manages residential mortgage assets on behalf of private investors. Private National Mortgage Acceptance Company, LLC has strategic partnerships with BlackRock and Highfields Capital. The company was incorporated in 2008 and is based in Moorpark, California. Private National Mortgage Acceptance Company, LLC operates as a subsidiary of PennyMac Financial Services, Inc.

6101 Condor Drive

Moorpark, CA 93021

United States

Founded in 2008

Phone:

818-224-7442

Fax:

818-224-7397

Key Executives for Private National Mortgage Acceptance Company, LLC

Chief Executive Officer and President
Age: 54
Founder and Chairman of the Board
Age: 64
Chief Financial Officer
Age: 62
Chief Mortgage Operations Officer
Chief Business Development Officer
Age: 40
Compensation as of Fiscal Year 2017.

Private National Mortgage Acceptance Company, LLC Key Developments

Private National Mortgage Acceptance Co. LLC Appoints David Spector as President and CEO

PennyMac Financial Services announced that its President and CEO David Spector was named to those titles at the company's subsidiary Private National Mortgage Acceptance Co. LLC. Spector took over the CEO role at PennyMac Financial and another subsidiary, PennyMac Mortgage Investment Trust, effective January 1, 2017.

Private National Mortgage Acceptance Company, LLC Enters into an Amended and Restated Credit Agreement

PennyMac Financial Services Inc., through its subsidiary, Private National Mortgage Acceptance Company, LLC, entered into an amended and restated credit agreement, dated as of November 18, 2016, by and among the Borrower, the lenders that are parties thereto, Credit Suisse AG, as administrative agent and collateral agent, and Credit Suisse Securities (USA) LLC, as sole book runner and sole lead arranger, pursuant to which the lenders have agreed to make revolving loans to the Borrower in an amount not to exceed $150 million. Interest on the loans shall accrue at a per annum rate of interest equal to, at the election of the Borrower, either an alternate base rate or LIBOR plus the applicable margin. During the existence of certain events of default, interest shall accrue at a higher default rate. The maturity date of the loans is 364 days following the date of the Credit Agreement. The proceeds of the loans are to be used solely for working capital and general corporate purposes of the Borrower and its subsidiaries. The Credit Agreement amends and restates that certain credit agreement, dated as of December 30, 2015, by and among the Borrower, the lenders that are parties thereto, Credit Suisse AG and Credit Suisse Securities (USA) LLC. The primary purposes of the amendment and restatement were to increase the maximum revolving loan amount from $100 million to $150 million and extend the maturity date thereof. All other terms and conditions of the Original Agreement remain the same in all material respects.

Private National Mortgage Acceptance Company, LLC and PNMAC Finance Corporation Intend to Offer $300 Million Aggregate Principal Amount of Senior Notes Due 2021

PennyMac Financial Services Inc. announced that Private National Mortgage Acceptance company, LLC and PNMAC Finance Corporation intend to offer $300 million aggregate principal amount of senior notes due 2021. The Notes will be guaranteed on a senior basis by PNMAC’s subsidiaries and the Company. PNMAC expects to use the net proceeds to repay amounts borrowed under its revolving credit facility and for general corporate purposes. The offering is subject to market conditions and other factors. The Notes have not been and are not expected to be registered under the Securities Act or any state securities laws and, unless so registered, may not be offered or sold in the United States or to U.S. persons absent an applicable exemption from the registration requirements of the Securities Act and applicable state securities laws.

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Recent Private Companies Transactions

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Date
Target
No transactions available in the past 12 months.
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