PennyMac Financial Services, Inc. (NYSE

FSI ) Q1 2025 Earnings Conference Call April 22, 2025 5:00 PM ET Company Participants David Spector - Chairman and CEO Daniel Perotti - Chief Financial Officer Conference Call Participants Michael Kaye - Wells Fargo Doug Harter - UBS Crispin Love - Piper Sandler Bose George - KBW Eric Hagen - BTIG Shanna Qiu - Barclays Operator Good afternoon and welcome to PennyMac Financial Services Inc., First Quarter 2025 Earnings Call. Additional earnings materials, including presentation slides that will be referred to in this call, are available on PennyMac Financial website at pfsi.pennymac.com.