When measured against outstanding first liens calculated by Inside Mortgage Finance – $11.168 trillion – that means $933.6 billion of residential loans have been impaired (to some degree) by the pandemic.
PennyMac executives cited elevated margins across all channels. Also, production volume rose in the more profitable consumer-direct and wholesale-broker platforms...
At an estimated $106 billion, wholesale-broker production represented 15.8% of first-lien originations in early 2020, the sector’s biggest share since the financial meltdown...