PennyMac's income fell by 17% on a sequential basis in the first quarter, originations declined by 3.5% while the nonbank's servicing portfolio grew by 5.2%.
A diverse group of 21 commercial banks and savings institutions reported $3.75 billion of mortgage-banking income for 1Q21, a 1.7% improvement from the fourth quarter.
Mark Calabria: "Just like other large financial institutions, these plans will provide Fannie Mae, Freddie Mac and FHFA with a roadmap for preserving business continuity should they fail again."