PennyMac reveals new president, chief mortgage banking officer

Doug Jones is now the president and chief mortgage banking officer of PennyMac Financial Services (PFSI).

“I am pleased to announce this promotion for Doug, which reflects the company’s continued focus on succession planning,” said PFSI Chairman and CEO David Spector.

Before his promotion, Jones had served as the company’s senior managing director and chief mortgage banking officer of PFSI. He has also been at the helm of the firm’s mortgage banking subsidiary, PennyMac Loan Services.

According to the mortgage firm, Jones will continue to be responsible for all activities relating to its loan production and loan servicing business. The move comes on the heels of the company’s executive management changes.

“Doug is an extremely focused and committed leader who is widely regarded as one of the most experienced and capable mortgage executives in our industry. Doug and I will continue to work with Andy Chang, Vandy Fartaj and our deep senior management team to build on PennyMac’s industry leadership and achieve further success and growth in the years to come,” Spector said.