PFSI News and Press, PennyMac Financial Services Inc. From 01/05/21

Refinance volume will likely trend downwards towards a normal level through 2022 due to stable interest rates. Recent team expansion will likely support revenues. However, the expansion will also lead to higher expenses. PFSI’s earnings will likely decline in 2021 but remai...

Moody's sees a positive 2021 outlook for only one of 12 finance company subsectors; the outlooks on seven are negative with the remaining four seen as stable.The U.S. non-bank residential mortgage sector is the one that holds a positive outlook: "Profitability will remain strong and originati...

PennyMac Financial Services (PFSI) names Andrew S. Chang senior managing director and chief operating officer, effective Jan. 1, 2020.He's currently  senior managing director and chief financial officer.In this new role, Chang will continue to oversee the company’s ...

PennyMac Mortgage Investment Trust (NYSE: PMT) today announced changes in the roles of certain of its executive officers in conjunction with organizational changes announced today by PennyMac Financial Services, Inc. (NYSE: PFSI), PMT’s manager and service provider. Andrew ...

PennyMac Financial Services, Inc. (NYSE: PFSI) today announced that Andrew S. Chang, currently Senior Managing Director and Chief Financial Officer, will become Senior Managing Director and Chief Operating Officer of the Company. In this new role, Mr. Chang will continue to oversee ...

Rocket Companies (RKT) gains 5.3% after Jefferies analyst Ryan Carr starts covering the stock with a Buy rating as part of a broader call flagging the potential of real estate finance tech stocks.Black Knight ([[BKI]] +0.2%), New Residential ([[NRZ]] +0.8%), and PennyMac Financial (...

Mortgage originators are benefiting from both high demand and much greater than normal gain on sale margins. These conditions continued into Q4, which means they will likely report yet another quarter of huge gains on sale profits. Many are already up 70% - 120% YTD, but two firms...

Mortgage origination volumes could stay at or above record levels achieved in Q3 according to rate lock data compiled by Black Knight in its Mortgage Monitor report.Purchase originations hit a record $455B in Q3 and refinance lending hit a record $867B.2020 is on pace to reach almost $4.4T in...

Soros's 13F portfolio value decreased from $4.48B to $4.08B this quarter. The number of positions decreased from 141 to 132. Soros added Palantir Technologies and Unity Software, while reducing T-Mobile US. Also, most of their recent additions in Financials were either reduced or elim...

The COVID-19 crisis has unleashed a mortgage refinancing wave that comes around once every 20 years or so. When the economy slammed to a halt, the Federal Reserve cut interest rates as a low as it could and began buying up mortgage-backed securities in order to stabilize the market. The...