Pennymac laying off 190 more workers, including 69 LOs
National Mortgage News
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PennyMac filed notices for its latest round of layoffs in late April and May, following March filings that identified 236 positions to be permanently terminated effective in May. The news comes just days after its origination and servicing subsidiary, PennyMac Financial Services, reported first quarter net income of $173.6 million, a decline from $176.1 million in the fourth quarter and $376.9 million during the first quarter of 2021. But the production segment's pretax income was $9.3 million, down from $106.5 million in the previous quarter and $362.9 million year-over-year.?
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In other news today:
The share of all mortgages late but not in foreclosure was 2.8%, down from 2.84% the previous month, according to Black Knight’s latest monthly delinquency report. Foreclosure inventory was up by 4,000 units from the previous month and 20,000 from a year earlier at 173,000.?
Technology vendors in the default management space, Brace, Sagent and Covius are working to offer faster, less siloed systems to address the resumption of activity in this area as forbearance ends and loss mitigation activity with compliance sensitivities resumes.?
NMN rounds up the latest personnel changes within the industry.?
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Realtor Associate @ Next Trend Realty LLC | HAR REALTOR, IRS Tax Preparer
2 年Hard Times do to Covid.