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Servicing business carries Pennymac in Q2 2022

Servicing business carries Pennymac in Q2 2022

PennyMac notched $129 million in profit during the second quarter as it reduces expenses and relies on servicing to offset declines in origination production.

The post Servicing business carries Pennymac in Q2 2022 appeared first on HousingWire.

Servicing business carries Pennymac in Q2 2022
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Servicing business carries Pennymac in Q2 2022
Servicing business carries Pennymac in Q2 2022
Servicing business carries Pennymac in Q2 2022
Servicing business carries Pennymac in Q2 2022
housingwire housingwire | 1 year ago
PennyMac notched $129 million in profit during the second quarter as it reduces expenses and relies on servicing to offset declines in origination production. The post Servicing business carries Pennymac in Q2 2022 appeared first on HousingWire.
PennyMac notched $129 million in profit during the second quarter as it reduces expenses and relies on servicing to offset declines in origination production. The post Servicing business carries Pennymac in Q2 2022 appeared first on HousingWire.
PennyMac Financial's 1Q profits driven by servicing
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UWM touts Q1 servicing win amid origination decline
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The company earned $453.3 million, inclusive of a $172 million increase in the fair value of its mortgage servicing rights, but future originations and revenue are expected to decline while it plans to continue challenging market rivals on pricing.
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Dwindling originations and thinning margins slashed profits at Guild Mortgage's parent company by 72% in the second quarter, prompting the firm to undertake sizable layoffs.Guild Holdings, owner of the San Diego-based lender and servicer, reported net income of $58.3 million in the second quarter, a drop from the first quarter's $208 million, according to Thursday's earnings report. The firm's $266.3 million in net income year-to-date exceeds last year's $169.5 million revenue through the year'...
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A re-occurring challenge we hear from our clients is that transformation agendas โ€“ and the underlying technology required to achieve desired results โ€“ are solely focused on origination and servicing platforms. However, these systems only manage the product lifecycle, and very rarely focus on the end-to-end picture: optimally managing customer interactions. This is why aligning origination and CRM platforms creates stronger business value and a more delightful customer...
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housingwire housingwire | 1 year ago
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