PennyMac 2Q Earnings Down Nearly 37% YOY
Following three rounds of layoffs that eliminated 475 jobs, PennyMac says production segment income was down 96% YOY.
Following three rounds of layoffs that eliminated 475 jobs, PennyMac says production segment income was down 96% YOY.
A wide variety of positions are affected.
Mortgage originator and servicer reports net income fell 54% year over year.
Bulk of layoffs in California come from home loans, followed by refinancing