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Kroll assigns rating to Private National Mortgage Acceptance

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Kroll assigns rating to Private National Mortgage Acceptance

Kroll Bond Rating Agency has assigned an issuer rating of BB+ with a stable outlook to Private National Mortgage Acceptance Co. LLC, a residential mortgage originator and servicer and controlled subsidiary of PennyMac Financial Services Inc.

The assigned rating reflects the company's solid profitability, skilled management team and top-10 market share in the U.S., Kroll said.

The rating also takes into account that overall mortgage origination volume will likely be down in 2018 and Private National Mortgage Acceptance will not replicate peak earnings demonstrated in 2016 and 2017.