PennyMac Financial Services

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.

Diversified business model, rising production volumes, and large servicing portfolio propel the company to profitability.