PennyMac Financial Services reported income and revenue that missed Wall Street estimates, though the company saw growth across its business lines. The Moorpark lender reported net income of $47.1 million (42 cents a share) for the quarter ended March 31, compared to income of $43.5 million (38 cents) in the same period last year. Revenue rose 33 percent to $140 million. Analysts on average had expected net income of 45 cents a share, according to Thomson Financial Network. The company produces and services U.S. residential mortgage loans and is an affiliate of publicly held mortgage REIT PennyMac Mortgage Investment Trust. Stanford Kurland, the former president of Countrywide Financial, is chief executive of both companies. Loan production activity rose 12 percent from the fourth quarter to $8.9 billion in unpaid principal balance, and loan servicing rose 9 percent from the fourth quarter to $115 billion. “PennyMac Financial delivered strong earnings in the first quarter, driven by higher volumes and revenue from our loan production business,” said Kurland in a prepared statement. The earnings were released after markets closed on Wednesday. Shares rose 20 cents, or more than 1 percent, to close Thursday at $18.37 on the New York Stock Exchange. In its quarterly filing, PennyMac Mortgage Investment Trust reported much lower first-quarter revenue and income, citing lower-than-expected performance in its distressed loan portfolio and higher mortgage pre-payment speeds that negatively affected the valuation of its mortgage servicing rights. The Moorpark real estate investment trust posted net income of $7.5 million (9 cents a share) in the quarter ended March 31, compared with $37.8 million (50 cents) in the same period a year earlier. The company’s net investment income fell more than 50 percent, to $37.7 million. The REIT primarily invests in distressed residential mortgages and other mortgage-related assets but also does correspondent lending, originating and packaging loans for sales to banks. Its net loan-servicing revenue rose 8 percent to $8 million. The earnings were released after markets closed on Wednesday. Shares fell $2, or nearly 10 percent, to close Thursday at $18.30 on the New York Stock Exchange.