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%.
Guaranteed Rate sold $5.55 billion of jumbo mortgages to unaffiliated buyers in 2020, nearly three times the volume of second-ranked Quicken Loans. (Includes two data charts.)
Non-QM impairments decline; non-agency forbearance rate improves; non-agency reverse mortgage lender settles with CFPB; Redwood paying for its employees’ MI; PCMA partners with various advisors.
Non-agency outlets are seeing a surge in the supply of non-owner-occupied loans due to caps recently placed on GSE business. Non-agency MBS issuance is expected to increase, though pricing for jumbos is also declining.