The deal is expected to close in the second half of this year. It would make Pennymac the second-largest mortgage servicer in the country and one the largest subservicers, the company said. Continue reading
The $26,250 increase in Fannie and Freddie’s baseline single-family conforming loan limit is the smallest since 2020, but pushes the ceiling in high-cost markets to $1,249,125. Continue reading
The 2.4 percent increase ahead of an official announcement in November surpasses more cautious 1.5 percent increases adopted last month by UWM, Pennymac, CrossCountry and Rate. Continue reading
UWM and Pennymac are pricing jumbo mortgages of up to $819,000 as if they were conforming, ahead of an official announcement by Fannie and Freddie’s federal regulator in November. Continue reading
A major player in correspondent lending and mortgage servicing, Pennymac is looking to provide more loans directly to consumers through a strategic partnership and investment in mortgage loan origination software provider Vesta. Continue reading
With prices rising, it’s becoming standard operating procedure for big lenders like Rocket to help homebuyers avoid jumbo loan pricing by getting a jump on FHFA’s official announcement. Continue reading
Lenders have gotten into the habit of helping some homebuyers avoid jumbo loans by raising their limits before an official announcement by Fannie Mae and Freddie Mac’s federal regulator. Continue reading
PennyMac is putting a positive spin on the arbitrator’s ruling, saying the decision allows it to continue to use the disputed loan servicing software “free and clear of any restrictions.” Continue reading
Soaring mortgage rates, slagging sales, thousands and thousands of layoffs: The past 12 months have offered a jarring reminder that what goes up must come down. Continue reading
With a few exceptions, the layoffs have so far largely been confined to companies providing mortgages and mortgage-related services like title and closing. Continue reading