Steve Bailey, as Chief Servicing Officer, is responsible for directing PennyMacs loan servicing operation, including implementation of the methods and programs directed at improving the value of acquired loans, as well as setting and managing performance goals for all aspects of the servicing and loan administration functions. Prior to joining PennyMac in April, 2010, Mr. Bailey served as the Mortgage Servicing Executive at Bank of America where he was responsible for overseeing a loan portfolio of over 14 million loans valued at over $2 trillion in outstanding debt, with operations that included more than 15,000 employees in 10 locations across the U.S. Prior to this role, Mr. Bailey served as Chief Executive Officer of Loan Administration for Countrywide Home Loans, following a progressive career in a variety of management and leadership positions in Servicing Operations since joining the company in 1985. Mr. Bailey holds a BA in Classical Guitar Performance from the University of Southern California.
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