Smaller mortgage bankers can now sell loans utilizing PennyMac Mortgage Investment Trust’s correspondent division thanks to a new program launch.
The Westlake Village, California-based
real estate investment trust said Tuesday that it has launched a non-delegated correspondent lending program.
According to today’s news release, both new correspondent lending clients as well as existing correspondent mortgage sellers can utilize the new program.
PennyMac said that the program enables correspondent sellers
to access the underwriting services of its mortgage banking services provider, PennyMac Loan Services LLC.
The statement said that PennyMac Loan Services will review loan eligibility on behalf of correspondent sellers for applicable investor guidelines and requirements.
“The non-delegated program expands the services we offer to correspondent sellers by leveraging the capabilities of our proven and established platform,” PennyMac Chief Institutional Mortgage Banking Officer Doug Jones stated in the statement.
Companies interested in becoming approved correspondent sellers can read more at www.GoPennyMac.com.