Although originations and net income increased at PennyMac Financial, the company took a loss on servicing activities during the fourth quarter due to hedges.
In the grand scheme of things, longer close times may not seem like a disaster but for nonbanks using warehouse lines of credit that means loans have longer dwell times…
Lori Brewer of LBA Ware: “Despite speculation that lenders’ efforts to reduce operational costs would include curbing loan originator commissions in 2019, our analysis shows that base commission for LOs did not significantly change from 2018 to 2019.”
The creation of a U.S. sovereign wealth fund could grease the skids for an end to the conservatorships of Fannie Mae and Freddie Mac.
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