Pennymac
Housing Wire

Pennymac posts first-quarter profit of $39M

​ Pennymac Financial Services earned a profit of $39.3 million in the first quarter of 2024, the California-based multichannel lender and servicer announced Wednesday. The company’s pretax gain in the first quarter was $43.9 million. […]

Pennymac
Housing Wire

Pennymac shakes up tech leadership

​ Pennymac Financial Services has made changes to its technology leadership, creating a new role focused on digital innovations, the company announced on Tuesday. The changes come after the resolution of a long-standing arbitration process with Black […]

Pennymac
Housing Wire

Pennymac to issue $650M in unsecured debt

Pennymac Financial Services is the latest mortgage company to issue debt in a challenging housing market. The California-based company announced on Wednesday it intends to offer a $650 million aggregate principal amount of senior notes due […]

Pennymac
Housing Wire

Pennymac raises $750M in unsecured debt

California-based Pennymac Financial Services raised $750 million in unsecured debt with qualified institutional investors, 15% more than it initially expected, the company announced Thursday. Pennymac will use the proceeds of the offering to repay $650 million in […]

Housing Wire

Pennymac increases profits to $58M in Q2

California-based Pennymac Financial Services increased its profits by 92% in the second quarter of 2023 from the prior quarter. Although the performance was propelled by its servicing portfolio – as occurred in previous quarters – mortgage production […]

Housing Wire

Pennymac delivers $30M profit in Q1

California-based Pennymac Financial Services reported gains in its servicing portfolio that offset losses with its origination activity in the first quarter of 2023, allowing the company to deliver an overall profit in the period. However, Pennymac’s profitability […]