PennyMac Hires Former Better CFO for Strategic Role Amid Leadership Changes.

PennyMac Financial Services and its subsidiary have appointed Kevin Ryan, former CFO of fintech Better and former Morgan Stanley executive, as Chief Strategy Officer. The company has also promoted Marshall Sebring to Chief Investment Officer and Shiva Iyer to head Enterprise Risk Functions. The appointments aim to align the organization with future growth opportunities and the evolution of its business. PennyMac's leadership changes come amid consolidation in the home lending market and the company's efforts to maintain a competitive advantage in pricing and execution.

PennyMac Financial Services, Inc. (PFSI) and its subsidiary, PennyMac Mortgage Investment Trust (PMT), have announced significant executive leadership changes aimed at aligning the organization with future growth opportunities and the evolving mortgage market landscape. The appointments include Kevin Ryan as Senior Managing Director and Chief Strategy Officer, Marshall Sebring as Senior Managing Director and Chief Investment Officer, and Shiva Iyer as Senior Managing Director and Chief Enterprise Risk Officer.

Kevin Ryan, who previously served as Chief Financial Officer at fintech company Better (Nasdaq: BETR), will join PennyMac on October 13, 2025. Before Better, Ryan spent over two decades at Morgan Stanley, where he held various senior roles, including Managing Director of Investment Banking and Head of Banks and Diversified Finance. His appointment underscores PennyMac’s commitment to strategic growth and innovation PennyMac Financial Services, Inc. and PennyMac Mortgage Investment Trust Announce Executive Changes^[1].

Marshall Sebring, who has been promoted from his role leading Portfolio Risk Management, will now serve as Senior Managing Director and Chief Investment Officer. Sebring brings extensive experience in mortgage-backed securities (MBS) investing, mortgage servicing rights hedging, and asset-liability management. Prior to joining PennyMac, he held senior positions at JPMorgan Chase & Co. and BlackRock, Inc. PennyMac Financial Services, Inc. and PennyMac Mortgage Investment Trust Announce Executive Changes^[1].

Shiva Iyer, who has been a key leader at PennyMac since December 2016, has been promoted to lead the company’s enterprise risk functions. Iyer’s background includes executive positions at MUFG and Bank of America, where he oversaw credit risk, mortgage operations, and regulatory response. His appointment reflects PennyMac’s focus on enhancing risk management and compliance PennyMac Financial Services, Inc. and PennyMac Mortgage Investment Trust Announce Executive Changes^[1].

David Spector, Chairman and CEO of PennyMac, stated, "These appointments are a vital step in aligning our organization with future growth opportunities and the continued evolution of our business. Adding a leader of Kevin’s caliber and recognizing the proven talents of Marshall and Shiva adds to and highlights our deep bench of experienced leadership. These enhancements to our executive team are designed to optimize our business execution, elevate our risk management framework, and ensure we have the right strategic focus to continue driving our business forward" Pennymac Announces Organizational Changes^[2].

These executive changes come amid consolidation in the home lending market, where PennyMac is striving to maintain a competitive edge in pricing and execution. With these appointments, the company aims to solidify its position as a top lender and mortgage servicer in the United States.