# PennyMac Financial Services, Inc. (PFSI) MD&A by fiscal year

Verbatim Item 7 Management's Discussion and Analysis sections from PennyMac Financial Services, Inc.'s 10-K filings, one page per fiscal year. Extracted from SEC filings with the same bounded parser for every year. Filer text, not grepcent analysis or investment advice.

- [FY 2025 MD&A](/company/PFSI/mda/fy2025/): filed 2026-02-20; accession 0001104659-26-018142 (https://www.sec.gov/Archives/edgar/data/1745916/000110465926018142/pfsi-20251231x10k.htm); latest 10-K
- [FY 2024 MD&A](/company/PFSI/mda/fy2024/): filed 2025-02-19; accession 0001558370-25-001148 (https://www.sec.gov/Archives/edgar/data/1745916/000155837025001148/pfsi-20241231x10k.htm)
- [FY 2023 MD&A](/company/PFSI/mda/fy2023/): filed 2024-02-21; accession 0001558370-24-001429 (https://www.sec.gov/Archives/edgar/data/1745916/000155837024001429/pfsi-20231231x10k.htm)
- [FY 2022 MD&A](/company/PFSI/mda/fy2022/): filed 2023-02-22; accession 0001558370-23-001755 (https://www.sec.gov/Archives/edgar/data/1745916/000155837023001755/pfsi-20221231x10k.htm)
- [FY 2021 MD&A](/company/PFSI/mda/fy2021/): filed 2022-02-23; accession 0001558370-22-001740 (https://www.sec.gov/Archives/edgar/data/1745916/000155837022001740/pfsi-20211231x10k.htm)

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