Mr. Sebring has been our Senior Managing Director and Chief Investment Officer since September 2025. Mr. Sebring previously served as a Managing Director and head of Portfolio Risk Management from September 2024 to September 2025, during which he was responsible for overseeing the firm's mortgage servicing rights (MSR) hedging strategies. Mr. Sebring is responsible for the Company’s investments in MSRs, managing global interest rate risk, and overseeing investment strategies and portfolio management for Pennymac Capital Management. Prior to joining the Company, Mr. Sebring was a Managing Director in the Treasury/Chief Investment Officer Group at JPMorgan Chase & Co., where he led portfolio management for the bank’s Agency mortgage-backed securities portfolio. Prior to that, Mr. Sebring served as a Managing Director and Fixed Income portfolio manager at BlackRock, Inc., where he began his career. Mr. Sebring earned a B.A. in History from Princeton University.