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PennyMac Increases Originations and Production Profit

February 2, 2024
Brandon Ivey
On a pre-tax basis, PennyMac’s production segment generated $39.4 million in income in the fourth quarter, up 56.3% from the previous quarter.
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Short Takes: Impairments on Non-QMs Up Again / New CRT From Freddie / Redwood Back Quickly With Jumbo MBS / Promotions at Northpointe Bank

February 2, 2024
Brandon Ivey
The impairment rate on securitized non-QMs increased by more than 100 basis points between August and December.
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Short Takes: Large Package of MSRs on Offer / Home Equity Declines / Homeowners Still Locked In / Tepid Home Tour Activity

February 1, 2024
Brandon Ivey
Incenter is marketing a sale of GSE MSRs with a total unpaid principal balance of $15.06 billion.
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Large GSE Servicers Gain Share in Fourth Quarter

January 31, 2024
Dennis Hollier
The GSE servicing share among large independent mortgage banks went from 36.6% at the end of September 2023 to 36.9% at year-end.
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Mortgage Margins Plummet at NYCB in Fourth Quarter

January 31, 2024
Brandon Ivey
The bank's gain-on-sale margin fell from 59 basis points in the third quarter of 2023 to 32 bps in the fourth quarter.
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Mortgage-Related Complaints to CFPB Decline Slightly

January 30, 2024
Andras Malatinszky
Mortgage borrowers filed only 2.4% fewer complaints last year than in 2022.
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REIT Will Enter the Origination Market. However…

January 30, 2024
Paul Muolo
The production chief Two Harbors hired was not identified by name...
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Mortgage Companies Advised to Run Phishing Drills

January 30, 2024
James Dohnert
“If you look at some of the big names, the common thread is always a phishing email that someone clicked on,” said Freddy Feliz, chief information officer and vice president of information technology at the Mortgage Bankers Association.
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Short Takes: loanDepot Waives Late Fees / Slow, Steady HPA / Profit for Dynex in 4Q / MI Benefits Workgroup

January 30, 2024
Brandon Ivey
loanDepot won't assess late fees for its servicing customers for January payments until after the end of the month.
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A ‘Preliminary’ Profit for Mr. Cooper, MSRs Sized at $992B

January 29, 2024
Paul Muolo
In trading Monday, Mr. Cooper's common neared a new 52-week high...
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