Figure generated $89.8 million of net income in the third quarter, well beyond the $29.4 million in income the company had in the first half of the year.
The nonbank is poised to begin servicing new originations in the first quarter of 2026. And outstanding volume will shift from subservicers during the year.
“I’ve just guided that no matter what, I’m going to have the best quarter we’ve had in 4 years,” said Mat Ishbia, chairman, CEO and president of United Wholesale Mortgage. “Maybe you guys will recognize that and realize that we’re dominating out here.”
Pennymac is marketing a $426.5 million non-agency mortgage-backed security stocked with investment-property mortgages eligible for sale to the government-sponsored enterprises.