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.

Earnings, Servicing Increase at PennyMac

Year-over-year drop in home lending as delinquency up

Aug. 3, 2018

By Mortgage Daily staff

Earnings increased and servicing expanded at PennyMac Financial Services Inc. But originations were down from last year, and delinquency deteriorated.

In its second-quarter earnings report, the Westlake Village, California-based company disclosed pre-tax income during the period of $75 million.

Earnings accelerated from the same three months last year, when pre-tax income was $58 million. Results were modestly better than $73 million in the prior period.

Most recently, earnings were comprised of $19 million in production income, $55 million in servicing income and $1 million in investment management income.

Single-family loan originations came to $15.924 billion during the second quarter. Although business improved from $14.329 billion the previous quarter, it was down from $17.579 billion in the same three months last year.

The latest period's production was comprised of $0.911 billion in consumer-direct originations, 0.062 billion in wholesale lending and $14.951 billion in correspondent acquisitions.

Total first-half 2018 originations amounted to $30.253 billion.

Current-quarter originations are likely exceeding the volume of the second quarter based on interest rate locks, which climbed to $18.0 billion in the second quarter from $15.3 billion in the first quarter.

The company had 631 correspondent seller relationships and 268 approved mortgage brokers.

PennyMac said it expects to introduce a prime jumbo product for its wholesale channel in the third quarter.

PennyMac serviced $178.264 billion as of mid-year 2018. The servicing portfolio grew from $173.487 billion three months prior and $157.224 billion one year prior.

In addition, another $81.215 billion was subserviced for advised entities.

The number of loans serviced as of the most-recent date was 1.328 million.

Sixty-day delinquency was 2.9 percent, worsening from 2.6 percent as of March 31 and 2.5 percent as of mid-2017.

Headcount exceeded 3,000 people. On the same date last year, staffing stood at 3,028 people..

PennyMac profile

next story

back to current headlines

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.

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.

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.

Wholesale Lending News | Directory | P r i cing Engine | Originator Newsletter
News about wholesale lenders, correspondent lenders and wholesale mortgage lending programs. Alt-A, subprime and other niche loan programs. Lawsuits between wholesalers and brokers.

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