MSRs on Over $3 Billion in Loans Change Hands
The parent of Reverse Mortgage Funding LLC is acquiring mortgage servicing rights on more than $3 billion in loans.
PennyMac Secures $500 Million Facility
PennyMac Mortgage Investment Trust has secured financing for residential loans that it acquires while it waits to securitize them.
Originations Slide, Servicing Surges at PennyMac
Mortgage originations dropped by a quarter at PennyMac Financial Services Inc. But the company's mortgage servicing portfolio jumped by nearly half. The change in performance metrics was even more dramatic on a year-over-year basis.
REIT Funds Correspondent Program
A new correspondent lending program is being financed through a partnership deal with a real estate investment trust.
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.