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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.
Loan originations are down but servicing portfolio continues to grow.
