Tennessee Gov. Bill Lee, Department of Economic and Community Development Commissioner Bob Rolfe along with PennyMac Financial Services, Inc. announced the company will invest $3.9 million to open a new location in Williamson County.
Headquartered in Westlake Village, California, Pennymac expanded its West Coast operations to Tennessee by establishing a new mortgage origination center in Franklin. The project will result in the creation of 325 new jobs in Williamson County.
The Franklin facility is essential to Pennymac’s consumer direct lending business, which relies on its dedicated staff to actively acquire and interact with customers across the country.
Founded in 2008, the corporation currently assists more than 2 million customers nationwide and has over 7,000 employees across 16 locations. In 2021, Pennymac ranked fourth in Fortune’s 100 Fastest-Growing Companies in the world. The organization is an equal opportunity employer and is committed to attracting, developing and engaging a diverse workforce that empowers the communities where it lives and serves.
In the last five years, TNECD has supported more than 20 economic development projects in Williamson County resulting in 3,100 job commitments and roughly $314 million in capital investment.
“Pennymac is a nationally-recognized brand that serves more than 2 million customers across the country. We are proud Pennymac chose Tennessee for this project and appreciate the company for its investment and job creation in Williamson County.” – Gov. Bill Lee
“The number of California companies choosing to do business in Tennessee is growing at a rapid pace, and we are pleased to welcome Pennymac’s newest operations to our state. The company’s nearly $4 million investment in Franklin reinforces Tennessee’s pro-business climate, highly skilled workforce and exceptional quality of life.” – TNECD Commissioner Bob Rolfe
"Extending Pennymac’s operations into Tennessee will boost our coast-to-coast coverage allowing us to join a thriving business community with a superb talent pool. The added support will reinforce our strong stance on providing excellent customer service, while supporting the organization's overall growth initiatives." – Doug Jones, president and chief mortgage banking officer, Pennymac
“TVA and Middle Tennessee Electric congratulate Pennymac on its decision to locate and create hundreds of new jobs in Williamson County. Attracting and retaining quality jobs and investment to the Valley are fundamental to TVA’s mission of service. We are proud to partner with the Tennessee Department of Economic and Community Development and Williamson Inc. to help further that mission and celebrate this announcement together.” – John Bradley, TVA senior vice president of Economic Development
"Congratulations to Pennymac for its success and expansion. I am glad this company chose Williamson County for its new mortgage origination center operations. The 325 new jobs that will result from this investment will be a boost to the local economy in Williamson County. It is proof Tennessee's business friendly policies continue to attract businesses and spur economic growth for our community and state. I am grateful to local and state officials for their work to secure this project and bring many new jobs to Franklin." – Senate Majority Leader Jack Johnson (R-Franklin)
“It’s a rewarding experience when businesses recognize the high quality of life Tennesseans enjoy and choose to put down roots in our state. We are beyond thrilled to welcome Pennymac to Williamson County and look forward to supporting their long-range success.” – Rep. Brandon Ogles (R-Franklin)