PennyMac and Vesta Partner to Streamline Mortgage Application Process and Enhance Customer Experience.

PennyMac Financial Services has partnered with Vesta Innovations to streamline the mortgage application process and enhance customer experience. The partnership will deliver a faster and more streamlined process, reducing the time to close a loan. Pennymac has made a long-term minority equity investment in Vesta and plans to extend the technology across its production platform. This collaboration sets a new standard in the mortgage industry.

PennyMac Financial Services, Inc. (PFSI), a leading U.S. mortgage lender and servicer, has announced a strategic partnership with Vesta Innovations, Inc. (Vesta) to streamline the mortgage application process and enhance customer experience. The collaboration aims to deliver a faster and more efficient process, reducing the time to close a loan.

The partnership involves a long-term minority equity investment by PennyMac in Vesta. The investment will enable the integration of Vesta’s modern loan origination system (LOS) platform into PennyMac's operations. The platform, built on a flexible, open architecture with best-in-class APIs, empowers PennyMac to configure dynamic workflows tailored to its unique business needs. By layering data-driven tasks, native automations, and advanced AI, Vesta’s implementation has delivered meaningful efficiency gains across the mortgage lending process, from application to closing.

For PennyMac’s customers, this partnership will result in a faster, more streamlined, and easier-to-navigate mortgage application process. Vesta's customizable platform enables seamless communication among loan officers, customers, and realtors, significantly reducing the time it takes to close a loan. This provides a more efficient and user-friendly experience from start to finish.

PennyMac has initially rolled out Vesta's platform in its Consumer Direct Channel, with plans to extend the technology across its multi-channel production platform, including its Correspondent and TPO groups. This collaboration sets a new standard in the mortgage industry, driving a new era of lending and elevating the entire mortgage process.

About PennyMac Financial Services, Inc.
PennyMac Financial Services, Inc. is a specialty financial services firm focused on the production and servicing of U.S. mortgage loans and the management of investments related to the U.S. mortgage market. Founded in 2008, the company is recognized as a leader in the U.S. residential mortgage industry and employs approximately 4,400 people across the country. As of June 30, 2025, PennyMac Financial serviced loans totaling $700 billion in unpaid principal balance, making it a top mortgage servicer in the nation.

About Vesta Innovations, Inc.
Vesta is the leading modern loan origination system for mortgage, powering banks, independent mortgage banks, and fintech lenders of all sizes. Built on an open, cloud-native architecture, Vesta provides lenders a single source of truth and fully configurable workflows that adapt in real time. Blending traditional rules with advanced AI to structure and interpret loan data, Vesta drives automation, intelligent decisioning, and unmatched efficiency from application to closing. Founded in 2020, Vesta is backed by Andreessen Horowitz, Bain Capital Ventures, Conversion Capital, Index Ventures, and Zigg Capital.

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, regarding management’s beliefs, estimates, projections, and assumptions with respect to, among other things, our future financial and operational results, business plans, product offerings, and strategic partnerships, as well as industry and market conditions, all of which are subject to change. Actual results and operations for any future period may vary materially from those projected herein and from past results discussed herein. Factors which could cause actual results to differ materially from historical results or those anticipated include, but are not limited to: interest rate changes; real estate value changes, housing prices and housing sales; changes in macroeconomic, consumer and real estate market conditions; compliance with changing federal, state and local laws and regulations applicable to the highly regulated industry in which we operate; lawsuits or governmental actions that may result from any noncompliance with the laws and regulations applicable to our business; the mortgage lending and servicing-related regulations promulgated by federal and state regulators and the enforcement of these regulations; the licensing and operational requirements of states and other jurisdictions applicable to our business, to which our bank competitors are not subject; difficulties inherent in adjusting the size of our operations to reflect changes in business levels; purchase opportunities for mortgage servicing rights; foreclosure delays and changes in foreclosure practices; our dependence on U.S. government-sponsored entities and changes in their current roles or their guarantees or guidelines; our obligation to indemnify third-party purchasers or repurchase loans if loans that we originate, acquire, service or assist in the fulfillment of, fail to meet certain criteria; our exposure to risks of loss and disruptions in operations resulting from severe weather events, man-made or other natural conditions, including climate change and pandemics; our ability to effectively identify, manage and hedge our credit, interest rate, prepayment, liquidity and climate risks; expanding or creating new business activities or strategies; our ability to detect misconduct and fraud; and our organizational structure and certain requirements in our charter documents. You should not place undue reliance on any forward-looking statement and should consider all of the uncertainties and risks described above, as well as those more fully discussed in reports and other documents filed by the Company with the Securities and Exchange Commission from time to time. The Company undertakes no obligation to publicly update or revise any forward-looking statements or any other information contained herein, and the statements made in this press release are current as of the date of this release only.

References
[1] https://www.stocktitan.net/news/PFSI/pennymac-selects-vesta-to-supercharge-its-mortgage-platform-setting-dfol2votm13d.html