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» Nonbank Earnings Crushed By Unhedged MSR in 1Q20
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Nonbank Earnings Crushed By Unhedged MSR in 1Q20
May 22, 2020
John Bancroft
PennyMac Financial, which hedges its MSR portfolio, reported record earnings on mortgage banking in the first quarter. Its largest competitors posted huge losses. (Includes data chart.)
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