The modest decline in total first-lien mortgage originations during the third quarter affected most sectors of the market, but it hit a little harder at the prime-jumbo space, according to an exclusive new Inside Mortgage Finance analysis. (Includes two data charts.)
Lenders that predominantly originate purchase mortgages might have been better prepared for the shift away from refinances but they’re not immune to the tighter margins that have accompanied increased competition for volume in recent months.
PennyMac Financial Services is turning profits, increasing originations, acquiring servicing and looking to grow market share while other lenders are faltering under increased competitive pressure.
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