PennyMac Alters Repo Pact with Credit Suisse to Increase Funding Capacity for New Loans, MSRs
July 7, 2017
PennyMac and Credit Suisse are revising two master mortgage repurchase agreements to increase the lender’s funding capacity for new loan originations and purchases of mortgage servicing rights, the company disclosed in a recent filing with the Securities and Exchange Commission. In June, PennyMac agreed to revised terms of its master purchase agreement to increase temporarily the maximum committed purchase price to $943 million from $700 million. The amended agreement allows...