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PennyMac Financial Services Inc. announced Thursday morning its intention to make a nearly $4 million investment in securing a Franklin shop.

The Westlake Village, Ca.,-based finance firm is expanding into Tennessee to establish a future mortgage origination center in Franklin, which comes with a significant jobs creation commitment of 325 new jobs. The consumer direct lending firm depends on a robust, capable staff to generate leads and advise customers nationwide, hence its $3.9 million addition to Franklin’s business community.

"Extending Pennymac’s operations into Tennessee will boost our coast-to-coast coverage and allow us to join a thriving business community with a superb talent pool,” said Doug Jones, PennyMac president and chief mortgage banking officer. “Our new Franklin office will further our ability to provide excellent customer service, and support the organization's overall growth initiatives."

The announcement was welcomed and embraced by the likes of Gov. Bill Lee, Tennessee Economic and Community Development Commissioner Bob Rolfe, Williamson County Mayor Rogers Anderson and Franklin Mayor Ken Moore. Rolfe in particular noted that an investment of this scope on PennyMac’s part highlights the pro-business environment Franklin has developed out of its skilled workforce and renowned quality of living.

“PennyMac is a nationally-recognized brand that serves more than 2 million customers across the country,” said Gov. Lee. “We are proud PennyMac chose Tennessee for this project and appreciate the company for its investment and job creation in Williamson County.”

PennyMac (NASDAQ: PFSI) stock was oversold at least once within the last three days, currently ranks among the tenth percentile in terms of coverage according to Dividend Channel, a stock market report publisher. The DividendRank is based primarily on strong fundamentals and ostensibly inexpensive valuation. According to BNK Invest, PennyMac’s rank suggests it is among the most intriguing ideas to garner the interest of investors today.

“Congratulations to PennyMac for its success and expansion. I am glad this company chose Williamson County for its mortgage origination center operations,” said Jack Johnson, state senate majority leader. “The 325 new jobs that will result from this investment will be a boost to the local economy in Williamson County. It is proof that Tennessee's business friendly policies continue to attract businesses and spur economic growth for our community and state. I am grateful to local and state officials for their work to secure this project and bring many new jobs to Franklin."

PennyMac was one of two firms to raise their conforming loan limits before the Federal Housing Finance Agency according to American Banker's Asset Securitization Report.

PennyMac is expected to release its Q4 and full-year earnings for 2021 by market close Thursday, Feb. 3.