REIT Acquires Small Servicer
A real estate investment trust has acquired a mortgage servicer out of Texas with a servicing portfolio less than $10 billion.
PennyMac Production Slips, Servicing Portfolio Grows
Quarterly residential loan originations fell at PennyMac Financial Services Inc. and appear to be headed even lower. The mortgage servicing portfolio, however, grew and continued to expand after the end of the quarter.
Mortgage REIT Cancels IPO
A real estate investment trust that invests in residential and commercial mortgage-backed securities is abandoning plans to issue an initial public offering.
PennyMac Production Inches Higher
Residential loan production crept slightly higher at PennyMac Financial Services Inc. Growth in the mortgage servicing portfolio, however, was more aggressive.
New Business Slows at PennyMac
The quarterly volume of correspondent acquisitions at PennyMac Mortgage Investment Trust was lower. But the distressed loan investor projects a significant pickup by the end of 2013.
Strong Growth Continues at PennyMac
Correspondent lending activity at PennyMac Mortgage Investment Trust continued to surge, and the outlook is for further growth. While retail originations account for just a small fraction of overall activity, annual volume from the channel more than tripled. A new PennyMac holding company has been formed with plans to generate nearly $300 million from a public offering.
Correspondent Channel is Roaring at PennyMac
Through a thriving correspondent channel, PennyMac Mortgage Investment Trust is nearing the quarterly volume of some of the 10 biggest residential lenders.
PennyMac Business Soars
Quarterly mortgage production nearly doubled at PennyMac Mortgage Investment Trust, and new activity is in line to keep business elevated. By October, the pace of new originations is expected to nearly double again.
Correspondent Growth Prompts PennyMac Hirings
Business has been so good in the correspondent lending division of Private National Mortgage Acceptance Company LLC that the company is opening a new Florida facility and recruiting new production personnel.
PennyMac's Correspondent Acquisitions Continue to Accelerate
Correspondent originations at PennyMac Mortgage Investment Trustnearly doubled compared to the prior quarter and are expected to increase even more. The healthy pace of correspondent growth has the company adjusting its outlook for the year.