Announcement involves a departure and arrival of an industry veteran
PennyMac Mortgage Investment Trust (PMT) has announced a couple of changes to its board of trustees.
Effective June 1, Marianne Sullivan (pictured left) will step down after serving the board for six years. Donna Corley (pictured right), former executive vice president and head of Freddie Mac’s single-family business, will succeed Sullivan, according to PennyMac’s news release.
“I am immensely grateful for Marianne’s faithful service and the numerous contributions she has made since joining PMT’s board of trustees back in 2017,” said PMT chairman and CEO David Spector. “Her insight and expertise will be missed, and on behalf of the board, I wish her nothing but the best in her future endeavors.”
Corley has spent the past 30 years at Freddie Mac. In 2019, she took the helm at Freddie Mac’s single-family business. Before being promoted to EVP, Corley served as chief risk officer for the single-family business from 2014 to 2019 and senior vice president of credit pricing risk transfer and securitization from 2011 to 2014, among other leadership roles.
“I am excited to announce Donna Corley’s election to our board of trustees,” Spector said. “Her expertise in single-family housing, including in capital markets and mortgage credit, combined with her considerable experience working alongside regulators and other industry participants, will undoubtedly provide a unique and invaluable perspective. We welcome her arrival with great enthusiasm and look forward to her many future contributions.”
PMT is the mortgage REIT arm of wholesale lender PennyMac Financial Services. The group invests primarily in residential loans and mortgage-related assets.
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