twitter linkedin
facebook google+

Mortgage News

News by Subject
Complete list of specialty news sections.

Purchase Subscription
Subscribe to and get immediate access to all news, statistics and archives.

Mortgage Advertising
Reach mortgage executives, loan originators and other people tied to mortgage industry.

Consumer Mortgage News
Free mortgage news for prospective borrowers.

Mortgage Newsletter
Free e-mail newsletter with the latest headlines from

Mortgage News Reprints
Put entire stories in your online or printed newsletter or publication.

Mortgage Feedget RSS code
Condensed stories free on your Web site or for your RSS reader.

News Archives
Archive of stories by month going back to 1999.

Press Releases
Reports and announcements from

Mortgage Statistics
Data and statistics for real estate finance.

Mortgage Directories
Directories of lenders, branch operators and mortgage service providers.

Mortgage Graphs
Directories of lenders, branch operators and mortgage service providers.

home subscribe advertise reprints e-mail help RSS about us LOG IN

Mortgage News


Mortgage News

HOT Topics









site map
Origination News | Lender Ranking | Fundings by Lender | Statistics
Quarterly residential mortgage production by lender. Subprime, Alt-A, home equity and conforming originations. Volume by quarter since 2003.

Correspondent Channel is Roaring at PennyMac

Q3 mortgage production nearly doubles from Q2

Nov. 8, 2012

By Mortgage Daily staff

Through a thriving correspondent channel, PennyMac Mortgage Investment Trust is nearing the quarterly volume of some of the 10 biggest residential lenders.

Correspondent purchases came in at $6.306 billion, the Moorpark, Calif.-based company said in its third-quarter earnings report. Activity included $3.7 billion in conventional purchases, $2.6 billion in FHA loans and $0.001 billion in jumbo mortgages. PennyMac also had $0.357 billion in distressed mortgage acquisitions.

Business has nearly doubled since the second quarter, when $3.370 billion in correspondent purchases were made by the real estate investment trust.

The 12th-biggest originator during the second quarter, Ally Financial Inc., originated $5.9 billion. PennyMac's ascendancy has placed near top-10 territory.

Mortgage production has grown exponentially from the third-quarter 2011, when a meager $0.021 billion in business was closed.

During the first nine months of this year, $11.468 billion in home loans were acquired through the correspondent channel.

PennyMac's mortgage servicing rights portfolio doubled to $6.057 billion as of Sept. 30 from $2.933 billion as of June 30. The portfolio was only $0.068 billion at the same time last year.

Mortgage assets closed out September at $1.090 billion, growing from $0.970 billion three months prior.

Third-quarter pre-tax income was $59 million, growing from the prior period's $38 million. PennyMac earned $21 million in the same quarter during 2011.

The most-recent three-month period included $22 million from investment activities and $37 million from correspondent lending.

PennyMac profile

next story

back to current headlines

Secondary Marketing News | Correspondent Lender Directory
Mortgage portfolio trades and forward commitments. Correspondent lending, r e p u r c h a s e s and warehouse news. Secondary marketing statistics and lawsuits.

Corporate Mortgage News
M e r g e r s, a c q u i s i t i o n s and private and public offerings. Other corporate activity including executive appointments, bankruptcies name changes.

Mortgage REIT news | REIT Directory
Coverage of real estate investments trust companies, litigation and corporate activity.

Servicing News | Servicer Ranking | Delinquency Statistics
Stories about mortgage servicers, delinquency and f o r e c l o s u r e s. Coverage of servicing lawsuits and loan servicing technology.

Logout forgot

SUBSCRIBERS: Edit Subscription | Subscription Help | or call 214.521.1300

Subscribe Contact Us Site Map

Copyright © 2017 Mortgage Daily, D a l l a s
Subsribers Only:

AMC directory

ARM indexes

mortgage company directory

mortgage regulations

net branch directory

p r i c i n g engine directory

wholesale lender directory

More Mortgage News Resources (full site map):

advertising news

appraisal news

bank news

biggest lenders

commercial mortgage news

corporate mortgage news

credit news

FHA news

financial regulation news

foreclosure news

GSE news

jumbo mortgage news

interest rates

loan modification news

loan originator survey

LOS Newsletter


mortgage associations

mortgage-backed securities

mortgage books

mortgage brokers

mortgage compliance

mortgage conferences

mortgage directories

mortgage education

mortgage employment

mortgage employment index

mortgage executives

mortgage fraud

mortgage fraud blog

mortgage fraud local news

Mortgage Fraud Index

Mortgage Graveyard

mortgage insurance news

mortgage lawsuits

mortgage leads

mortgage lender ranking

mortgage licenses

mortgage litigation

Mortgage Litigation Index

Mortgage Market Index

mortgage mergers

mortgage news

mortgage politics

mortgage press releases

mortgage production

mortgage public relations

mortgage rates

mortgage servicing

mortgage statistics

mortgage technology

mortgage video

mortgage Webinars

net branch

net branch directory

nonprime news

origination news

originator tools

real estate news

refinance news

reverse mortgage news

secondary marketing

social media

servicing news

subprime news

wholesale lenders