Vickie was the owner and operator of Bittersweet Farm Market. owns 7,687,813 shares of PennyMac Financial Services Inc (PFSI) as of January 22, 2021, with a value of $468 Million and a weighting of 98.39%. Mr. Kurland owns over 31,000 units of Pennymac Mortgage Investment Trust stock worth over $105,304,661 and over the last 13 years he sold PMT stock worth over $52,390,589. I am deeply saddened to share the news of Stans passing, PMT President and CEO David Spector said. Kurland, PennyMacs non-executive chairman, died from complications related to Covid-19 as he was battling brain cancer, the firm said Monday in a statement. helped to build and shape, PennyMac President and CEO David Spector said in During his tenure at the company, Countrywide grew from just over $1 million dollars in market capitalization to a leading financial services firm with over $25 billion in market value. "COVID-19 has robbed us of a great leader, mentor and friend. Instead, in 2008, Kurland founded Private National Mortgage Acceptance Co., with the backing of BlackRock Mortgage Ventures and HC Partners, formerly Highfields Capital Management. He was a prolific researcher, conducting many studies on anti-psychotics, completing early research on the treatment of alcoholics . The entire PennyMac community mourns the loss of Mr. Kurland, an esteemed industry leader, visionary and friend. of the smartest people in the room when it comes to home financing. 48, Opening Br. The Construct of the Leadership Molecule. . James Follette Stanford Kurland Found 5 people in California, Nevada and Massachusetts. (Bob) Kurland passed away in his sleep on Sunday, Sept. 29, 2013, at the age of 88. See Also: WWW.Mgtsystems.com. Stanford L Kurland Stanford L. Kurland, chairman. Explore how the celebrity world connects. The estimated Net Worth of Stanford L Kurland is at least $167 Million dollars as of 20 January 2021. Stanford, California a/o 11/30/09 . One of his early assignments was at a mortgage bank called Countrywide Credit Industries and its operating subsidiary Countrywide Acceptance Company. [2] This simply means that not all leaders are the same in personality or capabilities. Accordingly, it is a testament to what Kurlands presence meant to the firm. For most people, success is about perseverance and overcoming obstacles. years at Countrywide Financial, serving as CFO, president and chief operating of For non-personal use or to order multiple copies, please contact Stanford Kurland, founder of PennyMac Mortgage Investment Trust and a former executive at Countrywide Financial Corp., has died. The indictment mirrors one filed in a neighboring Florida community in May 2022, which accused a loan officer of running an identical mortgage fraud scheme. Over the past 18 months, , Based on ownership reports from SEC filings, as the reporting owner, Stanford L Kurland owns 2 companies in total, including In 2008, Kurland founded PennyMac in partnership with BlackRock Mortgage Ventures and HC Partners, formerly Highfields Capital Management. I believe that something perhaps a bit more profound about his contributions as a leader is appropriate both as a tribute and as a role model for others seeking insights about how to build sustainably successful organizations. Stan Mozilo gave me his private cell phone number after the event, and over the years he responded to every email and never turned down a proposal from me. of 13,531 shares made by Scott W. Carnahan Other key executives at PennyMac Mortgage Investment Trust include He was born on August 4th, 1977, in Nashua NH. and Stanford Lee Kurland Age 68 Born Wednesday 11 Jun 1952 Died 24 Jan 2021 (ca.) HW Media connects and informs decision makers across the housing economy. no insider transaction in PennyMac Mortgage Investment Trust (PMT). After retirement, Kurland and his wife, Barbara, divided time between their homes in Bartlesville, Oklahoma and Sanibel Island, Florida . Enjoy a 7-Day Free Trial Thru Mar 08, 2023! articles a month for anyone to read, even non-subscribers! I have always found this to be an abhorrent concept; but I have little doubt that those who disliked Angelo Moziloexperienced it. The company's operations include activities such as production and servicing of financial securities based on residential loans and pooling and reselling of high-credit-quality mortgages. On average, Stanford trades about 28,493 units every 38 days since 2009. The company's production and servicing segment together form the mortgage banking business that includes mortgage loan origination, acquisition, and sale activities; while the investment management segment includes investment manager's activities, such as performing diligence, and managing acquired assets. It has an affiliated registered investment adviser, which serves as the subadviser to an exchange traded fund. timely exit from Countrywide Financial came just before the housing bubble To have built one company to the scale of CW was impressive but to turn around and build PennyMac to what can only be seen as one of the preeminent mortgage companies, if not the preeminent, and most respected company in the industry is a testimony to his talent and his ability to build word-class teams. Mozilo was the Prototype Charismatic Leader. Consumer Financial Protection Bureau Director Rohit Chopra says the bureau is continuing with its enforcement agenda and that financial firms face risks from the Supreme Court case. Click here to see the complete history of Stanford L Kurlands form 4 insider trades. Loving father of Gary (Kathy) Kurland, Robin (Marshall) Ross and Anne (Scot Warady) Kurland Warady. He left because he wanted his turn as its ultimate leader. [5] Kurland, S. and Flamholtz, E. The Transformation from Entrepreneurship to professional Management at Countrywide Financial Corporation, International Journal of Entrepreneurial Education, Vol 3, Issue 1 (2005), 81-98. Stan was one of the leaders who stood up to Angelo and others at Countrywide in the latter years when he thought they were taking on too much risk. Today it seems like everyone has a podcast, and frankly, 99% of them arent very good. Prior thereto, he had been our chairman of the board and chief executive officer from May 2009 through December 2016. On January 23, 2021, Stanford L. Kurland, founder and Chairman of PennyMac Financial Services, Inc. passed away. accountant by training, Kurland worked at Grant Thornton and then spent 27 Mr. Stanford L. Kurland is Chairman of the Board, Chief Executive Officer of PennyMac Financial Services, Inc. The company and industry leaders alike mourned his passing, calling him an esteemed industry leader, visionary and friend.. He spent 27 years at Countrywide Financial Corp. in various executive positions including chief financial officer, president and chief operating officer until his departure from Countrywide in 2006. of 2,230 shares made by Stacey D. Stewart Please select an amount. He is the founder and President of Management Systems Consulting Corporation, 10940 Wilshire Boulevard, Suite 600, Los Angeles California, 90024. Ironically, the departure, which was rumored to not have been voluntary, kept Kurland out of the line of fire following Countrywide's spectacular collapse. In addition, Kurland was responsible for the development of an in-house leadership development program, which Kurland asked our firm to design and deliver.[6]. Gurus may be added or dropped from the GuruFocus site at any time. chairman. Kurland did have a very distinguished career first at Countrywide, where worked for decades along with Mozilo, and subsequently when hefounded and built PennyMac Loan Services. Stanford L. Kurland began his professional career in public accounting in 1975 at Grant Thornton, formerly known as Alexander Grant. The company operates through four segments: correspondent production, credit-sensitive strategies, interest-rate-sensitive strategies, and corporate activities. I consider Stan Kurland to be a friend and colleague, and a model of leadership worthy of emulation. , Complications from COVID-19 whilst battling brain cancer. I also teach them that life isnt always fair, but you cant let that deter you. . 31,000 shares on January 22, 2021, which Until last week, no one outside finance had heard of Stanford L. Kurland. He could be quite forceful verbally, though in a quiet way. Copyright FameChain 2023, All rights reserved. The Bottom Line: Remember Stanford Kurland. Stanford Kurland personified the prototype leader who works alongside a charismatic visionary leader like Angelo Mozilo to build a sustainably successful organization. burst. [3]Similarly, in my view, his only real error was in letting Kurland resign. Past performance is a poor indicator of future performance. Stanford's mailing address filed with the SEC is C/O PENNYMAC FINANCIAL SERVICES, INC., 3043 TOWNSGATE ROAD, WESTLAKE VILLAGE, CA, 91361. Stanford L Kurland around $100,276. Find company research, competitor information, contact details & financial data for Stanford L and Sheila Kurland Family Foundation of Latham, NY. 2 job at Countrywide Financial to founding the pair of publicly traded companies known as PennyMac, has died at 68. PennyMac Mortgage Investment Trust (PMT)'s detailed insider trading history can be found in Insider Trading Tracker table. White , Chief Mort Fulfillment Off. Granted PennyMac was largely a B2B correspondent lender at the time, yet I worked with several similar companies over the years. The obituaries that I have seen lauded Kurland,but tended to focus most on the surface accomplishments at Countrywide Mortgage (Countrywide)and PennyMac as well as his departure from Countrywide after a conflict with Angelo Mozilo, one of that firms founders. February 8, 2023. The individuals or entities selected as "gurus" may buy and sell securities before and after any particular article and report and information herein is published, with respect to the securities discussed in any article and report posted herein. Former Countrywide and PennyMac executive Stanford L. Kurland passed away last week from COVID-19. Vickie's Obituary. Gain brand exposure through the additional sponsorship opportunities (activities, food, entertainment) as well as the option to send your own promotional items for golfers (swag bags, course signage). He was an obvious asset and sine qua non of Countrywide. Kurland made a fortune from his first foray into mortgage banking, and his PennyMac Mortgage Investment Trust (NYSE:NYSE:PMT) is a hybrid mortgage real estate investment trust (mREIT). 4,400 shares on May 23, 2013, which Although the classic stereotypical leader is someone like Steve Jobs, or Elon Musk, or Angelo Mozilo (who are, in fact,all true charismatic and visionary leaders), there are other types of leadership that is required and absolutely necessary for a firm to be built as a sustainably successful organization. of 209,674 shares. While Mozilo was a scrappy and flashy entrepreneur from the Bronx, Kurland was a polished former accountant from Los Angeles. Stanford Kurland, founder of PennyMac Mortgage Investment Trust and a former executive at Countrywide Financial Corp., has died. Under his leadership, PFSI became one of the largest residential mortgage lenders and servicers in the U.S. and now employs more than 6,000 people across the country. However,Kurland was the designated leader of these organizational development initiatives. Mr. Kurland has been a member of our Board since our formation in May 2009 and has been our Executive Chairman since January 2017. Stanford L Kurland is His latest book (co-authored with Yvonne Randle, is The Crisis Leadership Playbook, Vandeplas Publishing. UCLAs partnership with the Kurland Family has been instrumental in advancing the teams work. Originations Editor, National Mortgage News. "I am deeply saddened to share the news of Stan's passing. officer. Most recently he sold 31,000 units of PMT stock worth $1,883,560 on 20 January 2021. Loving father of Dr. Susan Kurland (Dr. David) Rapkin and Kenneth (Amanda) Kurland. They were a powerful dyad. Chief Mort Fulfillment Off. Stans skills were quickly observed by Countrywides founders and he joined the organization in 1979. Not even Mozilo could fulfill the functions performed by Kurland, simply because (as above) no single leader can perform all of the five core functions of leadership of a firm of significant size, and Countrywide was by then very large. brought The collapse of the Because of my personal experience, it always seemed a bit unfair to me. The Leadership Moleculeis thusa core leadership team (in the true sociological sense) with defined but overlapping and complementary roles. His He was also affiliated with Johns Hopkins University as a research professor. He brought a number of ex-Countrywide managers with him and a strong work ethic You can see the complete history of Mr. Kurland stock trades at the bottom of the page. a net Stated briefly, a Leadership Molecule is a core team (group or unit), including a two-person dyad) that cohesively performs a set of five key functional of strategic leadership as a unit rather than as a set of individuals. Chief Legal Officer Derek Stark Should you have information that conflicts with anything shown please make us aware by email. In my experience, there are virtually no organizational leaders who can perform all five key tasks or have all five skill sets required to perform them in any firm of significant size. Size where this phenomenon kicks in varies,but it ishighly unlikely that a single leader can perform all five key tasks at any size in excess of $100 million in revenues, and it can easily be as little as $10 million in revenues. Friends and families MEGHAN Markle may be enjoying marital bliss at the moment - but her ex-husband isn't "With his passion and vision, Stan led and built two of the largest and most influential companies in our industry.". Typically,the roles of vision, culture, operations, and overseeing systems development, are performed by two or more individuals comprising the molecule, while the fifth task of strategic leadership (leading and managing innovation and change) is performed as a team. By that I mean that while Mozilo was widely known and regarded to be the face and leader of Countrywide,Kurland was generally below the radar of outsiders. estimated net worth of Stanford L Kurland, Select a Column Field to add to the results, Refer a Friend and Earn One Month of Free Membership. [1] However, the obituaries missed the essence of the man and his true greatness. 6 Dkt. There were three key areas of organizational development focus for Countrywide under Kurlands leadership: Although a full description is beyond the scope of this newsletter article, because its intended focus is on a remembrance for Kurland, it has been documented elsewhere in a joint article that Stan and I co-authored. 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