Do you work at PennyMac Financial Services? Claim your profile
Improved profitability expected for largest nonbank mortgage lenders — if higher origination volumes actually materialize.
While monthly principal, interest, and property tax obligations are up an average 15-17% since the beginning of 2020, the average monthly property insurance payment is up a staggering 52% over that same period.
The company saw direct-to-consumer and broker originations rise but servicing revenues fall, as rates declined from July to September.
Eager for relief but fearing further losses, industry executives offer insights on a volatile mortgage market in transition.
William Chang, Pennymac’s long-time capital markets leader, to "pursue other interests in the mortgage banking industry."
The company more than doubled the $39.3 million of earnings it generated in the first quarter.
