PennyMac Financial Services, Inc., a newly-formed holding company affiliated with Private National Mortgage Acceptance Company, LLC, announced today that it has filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission relating to a proposed initial public offering of shares of its Class A common stock. The number of shares to be offered and the price range for the offering have not yet been determined. Citigroup Global Markets, Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated, Credit Suisse Securities (USA) LLC and Goldman, Sachs & Co. will act as joint book-running managers for the offering. A registration statement relating to these securities has been filed with the Securities and Exchange Commission, but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The offering will be made only by means of a prospectus. When available, copies of the preliminary prospectus relating to the offering may be obtained from: Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 (tel: 800-831-9146), or by email: BATProspectusdept@citi.com; BofA Merrill Lynch, Attention: Prospectus Department, 222 Broadway, New York, NY 10038, or by email: email@example.com; Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, One Madison Avenue, New York, NY 10010 (tel: (800) 221-1037), or by e-mail: firstname.lastname@example.org; or Goldman, Sachs & Co., Prospectus Department, 200 West Street, New York, NY 10282 (tel: 866-471-2526, fax: 212-902-9316), or by email: email@example.com.