PennyMac Financial Services is set to launch broker-direct originations, complementing its correspondent production and retail originations. Officials note that in-house technology development plays a major role in the nonbank’s efforts to increase originations and servicing.

Capital One this week announced that it’s throwing in the towel on mortgage finance, laying off staff and shuttering offices in an attempt to improve profits. And now comes the big question: will other banks follow in its wake?

Back in February, Capital One’s Senior Director of Home Loans Eric Declercq left the company for a position at loanDepot.

Heightened concerns have emerged about the effectiveness of the CFPB’s information security systems…

Correspondents generated 38.8 percent of the market and posted the highest purchase-mortgage concentration, 77.8 percent.

Industry consultant Paul Hindman believes more executive changes are likely in the months ahead…

This week, the government-sponsored enterprises reported combined earnings of $7.69 billion in the third quarter of 2017, which was up almost $3 billion from the previous period. As the end of the year approaches, they also continue to reduce their retained investment portfolios as mandated by the Federal Housing Finance Agency. Fannie Mae and Freddie Mac earnings were boosted by a legal settlement with the Royal Bank of Scotland over non-agency MBS ... [Includes one data chart]

“There was no drama surrounding this meeting of the FOMC,” said Michael Fratantoni, chief economist for the Mortgage Bankers Association.

Meanwhile, the indicators point to a drop in production volume for the fourth quarter…

Brian Vieaux, a senior vice president of third-party originations, said loan brokers are an “extension” of Flagstar’s reach through the retail channel.