Residential mortgage company Pennymac Financial Services will invest $3.9 million to open a new location in Franklin, Tennessee. The project is expected to create 325 jobs in Williamson County.

"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 said.

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 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 added.

“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,” added John Bradley, TVA senior vice president of Economic Development.