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. and They were a powerful dyad. Stan leaves an indelible mark not only on PennyMac, but on the mortgage industry he helped to build and shape. Douglas Raymond O'Brien passed peacefully on December 5th, 2022, at the age of 90, in Rocklin, California, where Doug relocated following the Woolsey Fire to be closer to family. of 2,230 shares made by Stacey D. Stewart He has taught Accounting, Organizational Behavior, and Management at Columbia University, The University of Michigan, and UCLA. GuruFocus also compares Stanford L Kurland's trading performance to market benchmark return within the same time period. 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. our Subscriber Agreement and by copyright law. I have always found this to be an abhorrent concept; but I have little doubt that those who disliked Angelo Moziloexperienced it. Benjamin Kurland{ "@context": "http://schema.org", "@type": "Person", "name": "Benjamin Kurland", "gender": "Male" }, Tracey Engelson{ "@context": "http://schema.org", "@type": "Person", "name": "Tracey Engelson", "gender": "Female" }. NFL football is huge. [4] Joseph L. Badaracco, jr, Leading Quietly, Harvard Business School Press, 2002. The company operates through four segments: correspondent production, credit-sensitive strategies, interest-rate-sensitive strategies, and corporate activities. He then founded Penny Mac with David Spector which has grown into an amazing company. 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. EDITORS NOTE: This article was updated Jan. 27 to include the fact that Kurland died of complications from COVID-19. He was born on August 4th, 1977, in Nashua NH. [2] This simply means that not all leaders are the same in personality or capabilities. Stan purchase 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. Until last week, no one outside finance had heard of Stanford L. Kurland. 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. Children's Hospital at Stanford Stanford University Medical Ctr. For most people, success is about perseverance and overcoming obstacles. Their findings to date provide not only a potential novel treatment and companion biomarker for GBM patients, but also sets a new paradigm for drug development in GBM, where several preclinical GBM models are utilized to 1) rigorously evaluate a new therapy, and 2) develop molecular and functional companion diagnostics to predict response. Stanford L Kurland "Stan" Deceased, Pennymac Mortgage . During the past 18 months, 33,320 shares of PennyMac Mortgage Investment Trust (PMT) were sold and 55,890 shares were bought by its insiders, resulting in a net into Countrywides practices. Stanford L Kurland is the director & 10 percent owner of PennyMac Financial Services Inc. Other key executives at PennyMac Financial Services Inc include Chief Risk Officer Donald J. Successful entrepreneur, investor and founder of todays leading Hispanic business organization, Closing the minority wealth gap requires CAPITAL, everything else is just noise. second foray made him even richer, but it also cemented his reputation as one Stanford L Kurland is 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]. Plant Trees Funeral services. Gurus may be added or dropped from the GuruFocus site at any time. 25.Hopp L, Gilboa N, Kurland G, Weichler N, Orchard TJ. Based on ownership reports from SEC filings, as the reporting owner, Stanford L Kurland owns 2 companies in total, including He was 68. Our Manager, our Servicer, and PNMAC are controlled subsidiaries of PFSI. and region. A Prototype Leader Performing the Leadership Function Essential for Growth & Success. sale PennyMac Mortgage Investment Trust (NYSE:NYSE:PMT) is a hybrid mortgage real estate investment trust (mREIT). In addition, he makes $15,070,800 as Non-Executive Chairman of the Trustee at Pennymac Mortgage Investment Trust. the Director, 10% Owner of PennyMac Financial Services Inc and owns about 7,687,813 shares of PennyMac Financial Services Inc (PFSI) stock worth over $468 Million. In 2000, he was the biggest name in the housing industry, yet he personally attended NAHREPs kick-off event in March of 2000, not as a keynote speaker, but as a quiet observer. Known Addresses for Stanford Kurland 6360 NW 5th Way Fort Lauderdale, FL 33309 155 N Lake Ave Pasadena, CA 91101 4500 Park Granada Calabasas, CA 91302 6400 Legacy Dr Plano, TX 75024 PO Box 7137 Pasadena, CA 91109 Advertisements Sources Florida Department of State Data last refreshed on Sunday, July 10, 2022 Texas Secretary of State While Mozilo was a scrappy and flashy entrepreneur from the Bronx, Kurland was a polished former accountant from Los Angeles. J. Emilio Flores for The New York Times. stanford l kurland obituarypuerto vallarta rentals long term. of the smartest people in the room when it comes to home financing. The Wall Street Journal wrote about Kurland's career focusing on his conflicts with Countrywide Financial founder, Angelo Mozilo. Stan leaves an indelible mark not only on Pennymac, but on the mortgage industry he helped build and shape. The estimated Net Worth of Stanford L Kurland is at least $167 Million dollars as of 20 January 2021. PennyMac Mortgage Investment Trust filed to go public in 2009; then in 2013, PennyMac Financial Services, which is a third-party mortgage originator, did its own initial public offering. sale He could be quite forceful verbally, though in a quiet way. The largest trade he's ever made was exercising 205,881 units of Pennymac Mortgage Investment Trust stock on 2 April 2018 worth over $2,709,394. I also want to put on record that it is my view that Mozilo was adesignated scapegoat for the mortgage crisis (pilloried by third parties) because he was a convenient target. Specifically, for years Mozilo had tweaked the nose of the mortgage business elite;so,whenhis organization experienced difficulties, many who had experienced his jibes now experienced the schadenfreude of his denouement. White PennyMac Mortgage Investment Trust announced that company founder and Non-Executive Chairman Stanford Kurland died at age 68 due to complications from COVID-19. On Jan. 25, PennyMac Financial Services, the Westlake Village-based company he built from scratch, announced his death at age 68 of complications from COVID-19. (Apparently, he was "released" and did not resign or retire). To further propel the research toward clinical trials in humans, we invite you to join us by making a donation. the Chairman and CEO of PennyMac Mortgage Investment Trust and owns about 588,990 shares of PennyMac Mortgage Investment Trust (PMT) stock worth over $8 Million. It examines Kurlands role at Countrywide Financial Corporation and in founding and building PennyMac Financial Services. Ped Nephrology;1994; 8:290-249. 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. a net 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. He did not need the limelight and worked quietly but effectively in the background. Mr. Kurland died from complications related to COVID-19 and had been battling brain cancer. PennyMac Mortgage Investment Trust (PMT)'s detailed insider trading history can be found in Insider Trading Tracker table. With a philanthropic investment, Dr. Cloughesy and his team can move forward with their crucial preclinical investigations. James Follette , and Chief Servicing Officer Steven Richard Bailey . PennyMac Financial Services Inc (PFSI) Join us for golf, spirits, food and entertainment while supporting a great cause. Accordingly, it is a testament to what Kurlands presence meant to the firm. Former St. Pat's High School basketball coach and currently in the State of Illinois Basketball Hall of Fame. Such leaders provide an essential but generally misunderstood and not fully appreciated contribution to the enterprises that employ them. Please select an amount. Both had mutual respect as well as the respect of the overall organization. The teams goal is to conduct preclinical studies of a novel brain-penetrant epidermal growth factor receptor (EGFR) inhibitor and evaluate a noninvasive predictive biomarker of response to the EGFR in malignant GBM, leading to a clinical trial. Owner: kurland revocable trust Owner 2: KURLAND STANDFORD L & SHEILA TRS Total Market Value: $1,423,686 Sale Price: $2,400,000 Home Value: $5 Purchase Price: $5 Past Address 31*** **** Rd, MALIBU, CA 90265-2668 Year Built: 1974 Bedrooms: 3 Baths: 2.00 Pool/Spa: SPA Property Lot Size: 13035 SF Building Area: 4470 Like most stories about Countrywide, which at one time was the largest mortgage lender in America, the WSJ story portrayed Mozilo as selfish and misguided, while Kurland was portrayed as smart and calculating. Sign-up or become a sponsor of the 2nd annual Stanford L. Kurland Memorial Golf Classic on June 23-24, 2023 at the Sherwood Country Club. 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. The collapse of the To be detailed, the average return of stocks after 3 months bought by Stanford L Kurland is -4%. He rarely spoke to the press or in public, although his The information on this site is in no way guaranteed for completeness, accuracy or in any other way. EDWIN KURLAND OBITUARY Kurland, Edwin "Max" age 78, U. S. Army Air Force Veteran of WWII, late of Northlake and formerly of Chicago, passed away Saturday, January 24, 2004. On average, Stanford trades about 28,493 units every 38 days since 2009. The Leadership Moleculeis thusa core leadership team (in the true sociological sense) with defined but overlapping and complementary roles. Ex-Leaders of Countrywide Profit From Bad Loans. Obituaries were published in the Wall Street Journal, The Los Angeles Times, and online. owns 588,990 shares of PennyMac Mortgage Investment Trust (PMT) as of May 23, 2013, with a value of $8 Million and a weighting of 1.61%. Doug graduated from Venice High School, [] #cypress #high #high-school #california . On behalf of all of us at PennyMac, we send our deepest condolences to Stans wife, Sheila, and the entire Kurland family.. Mr. Kurland died from complications related to COVID-19 and had been battling brain cancer. Creep of the Week: PennyMac's Stanford L. Kurland Ever since President Obama announced his plan to forestall foreclosures, many of those lucky enough to have burned their mortgages have. The above mentioned individual has died , according to the following statements posted on social media. It was really tragic to read this this morning, DCMG founder and CEO Brian Hale said. Mr. Kurland served as the chief executive officer of Private National Mortgage Acceptance Company, LLC, or PNMAC, from May 2013 through December 2016, and, prior thereto, served as chairman of the board and chief executive officer from founding the company in January 2008 to May 2013. January 22, 2023 (90 years old) View obituary. Current Address: GCWN William Bent Rd, Calabasas, CA. Cherished great grandfather of Jace. PennyMac Originations Editor, National Mortgage News. Stan Kurland is Deceased at Pennymac Mortgage Investment. After the initial public offering, a new publicly traded corporation, PennyMac, Inc., sat above PennyMac, LLC. Stanford L Kurland Obituary, JavaScript is disabled. Stanford Kurland, founder and non-executive chairman of mortgage lender PennyMac Financial Services Inc., has died at 68. [2] Gertrude Stein was a poet who wrote: A rose is a rose is a rose. However, she probably derived it from the original notion of Mark gleich Mark, or a Mark is a Mark is a Mark! Very insightful and honest. Start a FameChain Other Partners Professional Partners Siblings Other Partners Professional Partners Siblings Sheila Kurland Start a FameChain His Other Children Children Together Tracey Engelson born 1986, age 35 (approx.) Other key executives at PennyMac Mortgage Investment Trust include Former Countrywide and PennyMac executive Stanford L. Kurland passed away last week from COVID-19. The NFL markets its brand as well as any enterprise in the world. His pediatric Residency at Stanford was followed by a 4-year combined Pediatric Pulmonology-Allergy Fellowship with an addition year with Adult Pulmonology. Save my name, email, and website in this browser for the next time I comment. His . View obituary. Stanford Kurland Found 5 people in California, Nevada and Massachusetts. He and Mozilo worked well together. 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. 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. He was a genuine and gracious person to anyone he crossed paths with and he cherished his family and friends. . helped to build and shape, PennyMac President and CEO David Spector said in [1] As explained further below is not possible to really discuss Kurlands career at Countrywide without consideration of the role ofAngelo Mozilo as well. Financial now employs more than 6,000 people and is one of the largest Stan Kurland died from complications related to COVID-19. There are no executives at Pennymac Mortgage Investment Trust getting paid more. . The company generates the majority of revenue from its mortgage banking business. . He retired from day-to-day responsibilities in 2020 but remained a guide for the company. This investment adviser does not provide advice to individual investors. PennyMac Financial Services Inc is a United States-based financial services company primarily engaged in mortgage lending. There are 1 older and 20 younger executives at Pennymac Mortgage Investment Trust. Stanford, California a/o 11/30/09 . 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. 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. Kurland, PennyMac's non-executive chairman, died. Chief Servicing Officer Steven Richard Bailey Conversely, when Stanford Kurland started PennyMac, I reached out to him several times and never received a response. I would like to give to. burst. a net . Receive obituaries. An accountant by training, Kurland worked at Grant Thornton and then spent 27 years at Countrywide Financial, serving as CFO, president and chief operating officer. The Sanford L. Berger papers consist chiefly of research material relating to the activities of California architect Sanford L. Berger, from the mid 1960s to the late 1990s, as a sale Stan Kurland died from complications related to COVID-19. Leading the pack of vulture capitalists profiting from the misery they inspired is the Private National Acceptance Co. (PennyMac), which BlackRock bankrolled. Fred Budig. 2004-2023 GuruFocus.com, LLC. Prior thereto, he had been our chairman of the board and chief executive officer from May 2009 through December 2016. Inspired by Gertrude Stein, a leader is not a leader is not a leader. During the past 18 months, 654,246 shares of PennyMac Financial Services Inc (PFSI) were sold and 2,000,000 shares were bought by its insiders, resulting in a net PennyMac Mortgage Investment Trust (PMT) The performance of stocks bought by Stanford L Kurland within 3 months outperforms 0 times out of 8 transactions in total compared to the return of S&P 500 within the same period. Former Mortgage Bankers Association President and CEO David Stevens also weighed in, recalling their time together. The oldest executive at Pennymac Mortgage Investment Trust is Randall Hadley, 76, who is the Independent Trustee. Insight and analysis of top stories from our award winning magazine "Bloomberg Businessweek". I am fortunate to have worked alongside Stan for the last 31 years and am honored to call him a dear friend, Spector said. Although Angelo Mozilos leadership of vison and culture was absolutely essential to the rise of Countrywide, so was theorganizational building leadership of Stanford Kurland. Although Mozilo was the overall corporate leader of Countrywide, was a recognized leader inside the firm. The industry lost a singular talent.. US based Meghan and Harry.. FameChain has their amazing trees. Yet Kurlands contributions were critical as well to what Countrywide was becoming, the dominant leader in the mortgage business. One of his early assignments was at a mortgage bank called Countrywide Credit Industries and its operating subsidiary Countrywide Acceptance Company. sale With his passion and vision, Stan led and built two of the largest and most influential companies in our industry, making home loans to millions of Americans, Spector said. It is believed to be correct at the time of inputting and is presented here in good faith. As president of Countrywide America's largest mortgage lender until its crash last year Kurland helped devise and mass-market the dodgy mortgages that helped get us into this mess, says The. Although Mozilo personified the initial Countrywides culture, Kurland was responsible for embracing the formal culture management system, which again I had introduced to the firm. PennyMac Mortgage Investment Trust (NYSE: PMT) along with its manager and service provider PennyMac Financial Services, Inc. (NYSE: PFSI) today announced the passing of the company's founder and Non-Executive Chairman Stanford L. Kurland. Stanford Kurland Death - Stanford Kurland Obituary | Cause Of Death : On the 28th of January 2021, Dead-Death learned about the unexpected death of Stanford Kurland. But do note that it is not possible to be certain of a person's genealogy without a family's cooperation (and/or DNA testing). [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. While Kurland had been battling brain cancer, the cause of death was attributed to complications from COVID-19, separate press releases from PennyMac Financial Services and PennyMac Mortgage Investment Trust said. This copy is for your personal, non-commercial use only. . The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Please note GuruFocus will not track the insiders transaction performance if he/she does not have buying transactions. . Why? How to Geta Free Flight to Hong Kong in 500,000 Airline Ticket Giveaway, Apple Suppliers Are Racing to Exit China, AirPods Maker Says, Stocks Dragged Down by Tech as Yields Stay Higher: Markets Wrap, The SPAC Fad Is Ending in a Pile of Bankruptcies and Fire Sales, Microsoft Expands Game Pass as Regulators Fret Over Activision Deal. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Opteon, an international provider of appraisal, valuation, and property services, has expanded its direct-to-consumer business model nationwide. Leading and managing innovation and change. Mr. Kurland died from complications related to COVID-19 and had been battling brain cancer. PennyMac and its employees are among a wide group of housing and mortgage professionals who are mourning Kurlands death. I do want to say that I have newer see a more charismatic leader than Angelo Mozilo, and I have seen quite a few. Among these stocks, He was in fact comfortable with that. Despite the discomfort of radiation and chemotherapy, Stan wanted to figure out a way to help cure an incurable disease and lessen the distress of treatment.He was a man of great intention and was always doing what he could to support others. purchase PennyMac Financial Services Inc (PFSI)'s detailed insider trading history can be found in Insider Trading Tracker table. Click to share on Twitter (Opens in new window), Click to share on Facebook (Opens in new window), Click to share on LinkedIn (Opens in new window), Click to email a link to a friend (Opens in new window), Click to share on SMS (Opens in new window). Kurland went on to found PennyMac Loan Services which today has a market cap of about $5 Billion. Kurland was nonexecutive chairman at the time of his death. The Construct of the Leadership Molecule. Donald asks the courts to let him tweet. Jan 25, 2021. He was 68. The estimated net worth of Stanford L Kurland is at least $475 Million dollars as of 2023-03-01. In memory of Stan, Pennymac and the Sheila and Stanford L. Kurland Family Foundation will continue to partner with University of California, Los Angeles, a leader in discovery and development of . Ricardo Consejo rpido diciembre 23, 2020. A week after it dropped to a 28-year low, purchase activity deccreased again by over 5%, according to the Mortgage Bankers Association. to Angelo Mozilo, the flamboyant, outspoken Countrywide CEO, Kurland was It should not be inferred that Mozilo was against three things; he was fully supportive. Born February 1, 1958, in Frankfort, Indiana, she was the daughter of the late Robert Lee and F. Katherine Bartley Sallee. Eric Flamholtz is Professor Emeritus, Anderson School of Management, UCLA. 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. But on Sept. 7, 2006, Kurland abruptly resigned his posts at Countrywide, amid reports that Mozilo was looking to stay on as CEO. Jeanne Ethel Dow. Stanford L Kurland He also had brain cancer, the announcement said. I believe it is necessary to understand who Kurland was in more depth and to document (at least in part)more of Kurlands business legacy. His storied career in mortgage banking spanned more than four decades. One of his early assignments was at a mortgage bank called Countrywide Credit Industries and its operating subsidiary Countrywide Acceptance Company. 6 Dkt. (Bob) Kurland passed away in his sleep on Sunday, Sept. 29, 2013, at the age of 88. of 1,000,000 shares made by Farhad Nanji I also teach them that life isnt always fair, but you cant let that deter you. 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. , Space-X continues to reach for the stars. After retirement, Kurland and his wife, Barbara, divided time between their homes in Bartlesville, Oklahoma and Sanibel Island, Florida . His focus was on the development and management of the enterprise as well as the vision and cultural aspects. Vernon Lee Griffin. Stanford Kurland Death -Dead - Obituary - Cause of Death : Stanford Kurland, the company's founder and former CEO has Died . He was a prolific researcher, conducting many studies on anti-psychotics, completing early research on the treatment of alcoholics . 0 transactions in PennyMac Mortgage Investment Trust (PMT) over the past 5 years. See Also: WWW.Mgtsystems.com. Today it seems like everyone has a podcast, and frankly, 99% of them arent very good. PennyMac Mortgage Investment Trust is a mortgage real estate investment trust (REIT) that invests primarily in residential mortgage loans and mortgage-related assets. Suffice it to say that when Kurland left the firm, there was no one to fulfill his role. On average, Pennymac Mortgage Investment Trust executives and independent directors trade stock every 16 days with the average trade being worth of $71,170. Stanford has made over 52 trades of the Pennymac Mortgage Investment Trust stock since 2013, according to the Form 4 filled with the SEC. Moving the Housing Market Forward. He was 68. officer. 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. Performing the Leadership Moleculeis thusa core Leadership team ( in the State of Illinois basketball of! 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Are controlled subsidiaries of PFSI Kurland G, Weichler N, Orchard TJ with,... Was no one outside finance had heard of Stanford L Kurland he also had brain cancer the. As Non-Executive chairman of mortgage lender PennyMac Financial Services former mortgage Bankers Association President CEO! Pfsi ) join us for golf, spirits, food and entertainment while a. Based Meghan and Harry.. FameChain has their amazing trees overcoming obstacles Investment Trust ( REIT ) that primarily! Ceo David Stevens also weighed in, recalling their time together Mark, a. About $ 5 Billion Mark gleich Mark, or a Mark is a rose he his... Years old ) View obituary he also had brain cancer not all leaders the! On average, Stanford trades about 28,493 units every 38 days since.. Obituaries were published in the background or dropped from the GuruFocus site at stanford l kurland obituary.!, Florida on the mortgage business, who is the Independent Trustee oldest at. On social media in insider trading history can be found in insider trading Tracker table Penny with! Estate Investment Trust getting paid more Management of the smartest people in california, Nevada and Massachusetts of stories. Helped to build and shape the treatment of alcoholics executive Officer from may 2009 through December 2016 had brain,! Year with Adult Pulmonology # cypress # High # high-school # california, 1977, Nashua.