Significant Growth in Production Segment
Pretax income nearly tripled from last quarter due to higher volumes across all channels, with a notable increase in consumer direct. Total acquisition and origination volumes were $32 billion in unpaid principal balance, up 17% from the prior quarter.
Strong Servicing Portfolio Growth
Servicing portfolio nearing $650 billion in unpaid principal balance with nearly 2.6 million customers, driving increased revenue and cash flow contributions.
Record Lock Volumes in Consumer Direct
Consumer Direct lock volumes were up 93% from the prior quarter and originations were up 69%, driven by an increase in refinance volumes.
Correspondent Lending Dominance
PennyMac maintained a dominant position in correspondent lending with total acquisitions of $26 billion, up from $23 billion in the prior quarter.
Broker Direct Channel Expansion
Locks in the Broker Direct channel were up 24% from last quarter, with the number of approved brokers up 25% from the previous year.