Mortgage Market Consolidates As Volatility Heightens
Improved profitability expected for largest nonbank mortgage lenders — if higher origination volumes actually materialize.
Tagged: PennyMac
Insurance Crisis Hits Lenders' Bottom Lines
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.
PennyMac Financial Reports Third Quarter Income Of $69.4 Million
The company saw direct-to-consumer and broker originations rise but servicing revenues fall, as rates declined from July to September.
Mortgage CFOs, CIOs: Rate Relief A Long Way Off
Eager for relief but fearing further losses, industry executives offer insights on a volatile mortgage market in transition.
Pennymac Shakes Up Capital Markets Team
William Chang, Pennymac’s long-time capital markets leader, to "pursue other interests in the mortgage banking industry."
PennyMac Posts Profitable Q2 2024 Earnings
The company more than doubled the $39.3 million of earnings it generated in the first quarter.
PennyMac Posts Solid Q2 Results Amid Market Volatility
Diversified business model, rising production volumes, and large servicing portfolio propel the company to profitability.
PennyMac Financial Q1 Profit Down 82.5% YOY
Loan originations are down but servicing portfolio continues to grow.
PennyMac’s Chief Investment Officer Resigns
Vandy Fartaj stepping down to be replaced by company vet William Chang