Q1 2022 PennyMac Financial Services Inc Earnings Call Transcript
Good afternoon, and welcome to first quarter 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 this discussion contains forward-looking statements that are subject to risks identified on Slide 2, that could cause our actual results to differ materially, as well as non-GAAP measures that have been reconciled to their GAAP equivalent in our earnings presentation.
Now I'd like to begin by introducing David Spector, PennyMac Financial's Chairman and Chief Executive Officer, who will review the company's first quarter 2022 results.
Thank you, Isaac. PennyMac Financial's first quarter results demonstrate the earnings power of our comprehensive mortgage banking platform, against the backdrop of a rising interest rate environment, and significant competition among industry participants with excess capacity in this
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