Mortgage producer and servicer PennyMac files for a $288 million IPO

By Renaissance Capital,

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PennyMac Financial Services, which is focused on the production and servicing of U.S. residential mortgage loans, filed on Thursday with the SEC to raise up to $288 million in an initial public offering. The Moorpark, CA-based company, which was founded in 2008 and booked $181 million in sales for the 12 months ended 9/30/2012, plans to list on the NYSE and has not yet announced a ticker. Citi, BofA Merrill Lynch, Credit Suisse and Goldman Sachs are the joint bookrunners on the deal. No pricing terms were disclosed.

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