Q2 2020 PennyMac Financial Services Inc Earnings Call (Pre-Recorded) Transcript
Good afternoon, and welcome to the second quarter 2020 earnings discussion for PennyMac Financial Services, Inc. The slides that accompany this discussion are available on PennyMac Financial's website at ir.pennymacfinancial.com.
Before we begin, let me remind you that our discussion contains forward-looking statements that are subject to risks identified on Slide 2 that could cause our actual results to differ materially. Thank you.
Now I'd like to begin by introducing David Spector, PennyMac Financial's President and Chief Executive Officer, who will review the company's second quarter 2020 results.
Thank you, Isaac. PennyMac Financial reported record earnings in the second quarter, driven by core Production and Servicing results, partially offset by fair value losses on mortgage servicing rights and associated hedging and other losses.
Net income was $352.7 million or diluted earnings per
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