PennyMac Hires Warehouse Chief From #1 Player: B of A

``The Private National Mortgage Acceptance Corp. plans to make a big splash in warehouse lending and late this week unveiled who will lead the effort -- Paul Szymanski, once a top warehouse executive at the number one player in that niche: Bank of America... Szymanski's hiring by the Calabasas-based PennyMac is effective immediately. In a statement company president Stan Kurland noted that the publicly traded REIT plans to link its warehouse business to its recently launched correspondent purchase business, which is headed by Doug Jones, who left B of A in June. (At the bank Jones held the title of head of retail sales and institutional mortgage services.)''