EXECUTIVE SUMMARY
PennyMac Financial Services (NYSE: PFSI) was named the exclusive Official Mortgage Supporter of Team USA and a Proud Supporter of the LA28 Olympic and Paralympic Games in March 2025. The deal is a first-of-its-kind partnership between a mortgage lender and the Olympic movement, covering the Milano Cortina 2026 and LA28 2028 Games cycles.
Headquartered in Westlake Village, near Los Angeles, Pennymac will celebrate its 20th anniversary in 2028, the same year the Games come to its home city. The company is among the largest mortgage servicers and correspondant lenders in the United States, servicing a portfolio of approximately $700 billion in unpaid principal balance and commanding nearly 20% of the correspondent production market. The partnership's "Where Greatness Lives" campaign links athlete achievement with homeownership aspiration.
1. OLYMPIC HISTORY & MARKETING PRESENCE
1.1 Partnership Timeline & Evolution
This is Pennymac's first Olympic sponsorship. The partnership was announced on March 5, 2025, and covers both the Milano Cortina 2026 Winter Games and the LA28 2028 Summer Games.
The USOPC characterized the deal as "forging a first-of-its-kind partnership with a mortgage lender," establishing a new sponsorship category within the Olympic ecosystem.
1.2 Milano Cortina 2026
Milano Cortina 2026 is the first Games activation window under Pennymac's partnership:
- "Where Greatness Lives" campaign launch: The Team USA-inspired marketing campaign connecting shared values between elite athletes and aspiring homeowners debuted during the Milano Cortina 2026 period.
- The U.S. winter mortgage market during February 2026 is a less natural fit than the July-August 2028 LA28 window, so Milano Cortina activations are primarily brand-awareness oriented rather than conversion-driven.
- Athlete endorsements and homeownership education content featuring Team USA winter athletes in the pipeline.
1.3 Signature Programs
- "Where Greatness Lives": Inaugural campaign connecting Team USA athletes' personal stories with homeownership values. The campaign visually links the dedication required in elite athletics with the commitment of buying a home.
- Athlete homeownership education: Pennymac has committed to providing financial education and homeownership support to U.S. Olympic and Paralympic athletes
2. LA28-SPECIFIC INITIATIVES
2.1 Announced Plans & Positioning
- Exclusive mortgage category: No other mortgage lender can associate with LA28 or Team USA
- Hometown narrative: Pennymac's Westlake Village headquarters is approximately 35 miles from central LA28 venues
- 20th anniversary alignment: Company founding in 2008 means the 20th anniversary coincides with LA28
- Multi-platform activation: Partnership includes engagement across LA28 events, Team USA programming, and broader marketing platforms through 2028
- Activation partner: Elevate (consultancy) is serving as Pennymac's strategic activation partner, guiding the brand through the four-year lead-up to the 2028 Games. Scope includes launch strategy, athlete partnership integration, media outreach, and a premier hospitality program for LA28 and Olympic qualifying events.
- Athlete endorsements: Pennymac has committed to endorsing specific Olympic athletes in the coming months, with homeownership education and financial literacy as the connecting thread between athlete stories and the mortgage product.
LA28 Venue Context: The Games will be staged across 40+ competition venues throughout the LA metro area, including a dual-venue Opening Ceremony shared between the LA Memorial Coliseum and SoFi Stadium. LA28 will be the first Games since 1948 built entirely on existing infrastructure, with no new permanent construction. This "no-build" model reinforces the affordability and housing narrative that Pennymac's "Where Greatness Lives" campaign draws on. The Ticket Draw registration opened January 14, 2026 with tickets starting at $28, and a Locals Presale (including LA, Orange, Riverside, Ventura, and San Bernardino counties, where Pennymac's customer base is concentrated) runs April 2-6, 2026 before the general sale.
2.2 Regulatory/Market Context
The U.S. mortgage market has been shaped by elevated interest rates since 2022. By 2028, rate environment uncertainty will affect both Pennymac's business performance and the resonance of homeownership messaging. If rates decline, the "Where Greatness Lives" campaign benefits from increased consumer activity. If rates remain elevated, the aspirational messaging may face headwinds.
Housing affordability in Los Angeles specifically is a politically charged topic. Pennymac's Olympics association may draw attention to housing access disparities in the host city.
3. EXECUTIVE LEADERSHIP & DECISION-MAKERS
3.1 C-Suite Leadership
- David Spector - Chairman & CEO. Has led the company through its growth from startup (founded during the 2008 financial crisis) to one of the nation's largest mortgage companies.
- Kevin Ryan - Chief Strategy Officer (joined October 2025). Previously CFO at Better (Nasdaq: BETR).
- Marshall Sebring - Chief Investment Officer (promoted 2025). Leads portfolio investment and capital allocation.
- Shiva Iyer - Chief Enterprise Risk Officer (promoted 2025). At Pennymac since 2016.
3.2 Olympic Partnership Leadership
Not publicly disclosed. Given the "landmark" characterization of the deal, it likely has C-suite level oversight, possibly reporting through the CMO or Chief Strategy Officer function.
3.3 Board Members with Relevant Experience
Board composition available through SEC filings (NYSE: PFSI). No publicly noted directors with specific Olympic or major sports sponsorship experience.
4. AGENCY & CREATIVE PARTNERS
4.1 Agency Model
Not publicly disclosed. The "Where Greatness Lives" campaign represents Pennymac's most significant consumer-facing brand initiative to date, suggesting either a new agency engagement or significant in-house investment.
4.2 Known Agency/Partner Relationships
Specific agency relationships for the Olympic partnership are not publicly disclosed.
4.3 Notable Creative Executions
- "Where Greatness Lives": Launched alongside the March 2025 partnership announcement. The campaign uses athlete profiles to bridge the gap between athletic achievement and homeownership, targeting both brand awareness and consumer consideration.
5. COMPETITIVE POSITIONING
5.1 Market Share & Competitive Landscape
Pennymac operates across three mortgage channels:
- Correspondent lending: ~19.4% market share (industry-leading position)
- Loan servicing: ~4.7% market share ($700B+ portfolio by mid-2025)
- Direct lending: Consumer-facing retail channel
Key competitors include United Wholesale Mortgage (UWM, largest by origination volume), Rocket Mortgage (largest consumer-facing brand), loanDepot (LA-based competitor), and Freedom Mortgage. None hold Olympic sponsorships. Rocket Mortgage has invested heavily in sports marketing (NFL, March Madness, Rocket Mortgage FieldHouse naming rights) but has no Olympic affiliation, making Pennymac's partnership a direct competitive differentiator against its most brand-forward competitor.
5.2 Olympic Sponsorship Differentiation
Pennymac is the only mortgage company with an Olympic partnership, establishing a category that did not previously exist in the Games sponsorship framework. The deal gives Pennymac exclusive rights to associate its brand with Team USA and LA28 in the mortgage category.
5.3 Key Brand Messaging
- "Where Greatness Lives": Connecting athletic and homeownership aspirations
- Hometown pride: LA-area company supporting LA-hosted Games
- Longevity and reliability: 20 years in business, through cycles and crises
- First-of-its-kind: Emphasizing the pioneering nature of the mortgage-Olympics relationship
6. KEY METRICS & BUSINESS CONTEXT
6.1 Financial Performance
- 2024 origination volume: $116 billion UPB (up 17% from 2023)
- 2024 production revenue: Up 47% from 2023
- Servicing portfolio (June 2025): $699.7 billion UPB (up 11% YoY)
- Q3 2025 total net revenue: $632.9 million
- Q3 2025 production revenue: $361.8 million (up 29% from Q2)
- Correspondent market share: 19.4% (up from 16.7% in 2021)
- Publicly traded: NYSE: PFSI (operating company) and NYSE: PMT (mortgage REIT)
6.2 Olympic Period Performance
Not applicable; LA28 will be the first Games under this partnership. The Milano Cortina 2026 Winter Games will provide an initial activation window, though the U.S. summer mortgage market during July-August 2028 is a more natural fit for the category.
APPENDIX: KEY SOURCES
Official Sources
- USOPC: Pennymac Named Team USA and LA28's Official Mortgage Supporter (March 2025)
- LA28 Newsroom: Pennymac Named LA28's Official Mortgage Supporter
- Pennymac Corporate: pennymac.com/team-usa
- BusinessWire: Partnership Announcement (March 2025)
Industry Analysis
- HousingWire: Pennymac announces Team USA partnership for 2028 Olympics
- Sportcal: Pennymac becomes latest LA28, Team USA partner
- SportsTravel Magazine: Partnership coverage
Financial Filings
- PennyMac Financial Services Q3 2025 Earnings Release
- PennyMac Financial Services FY2024 Results
- SEC Filings: PFSI and PMT
End of Research Brief