#originations

PennyMac Financial earnings decline reflects slowdown in originations

Net income at PennyMac Financial Services came in lower on a quarterly and annual basis, reflecting industry headwinds in the current market, while pretax servicing income exceeded the amount earned from production channels. The nationwide lender and servicer, a subsidiary of Pennymac, posted net income of $173.1 million in the final three months of 2021, but profits were down 31% from $249.3…

Fannie Mae, Freddie Mac to add desktop appraisals to systems in March

Fannie Mae and Freddie Mac have announced the dates when they’ll follow up on their regulator’s promise to make one of the appraisal flexibilities introduced amid the pandemic a permanent part of their operations. The two major government-related mortgage investors will add desktop appraisal messaging to their automated underwriting systems in March. Freddie’s system feedback will indicate…