The company believes delivering loans to agency MBS helps it be a “high velocity, capital light and cash generating” operation. This year, the firm has held mortgages on its balance sheet for as few as eight days.

Nomura analyst Matthew Howlett says PennyMac's strong performance is a sign of boom times for mortgage lenders. He expects four or five IPOs of nonbank originators in the next nine to 12 months.

Coming off a decent first quarter, Invitation Homes was able to raise almost $400 million through an additional offering of common.

Nonbank Ginnie Mae issuers increased their borrowings under the PTAP program in May but not significantly. Next up: FHA’s forbearance policy on loans in progress.

Industry experts have identified the TALF program as a vehicle the government could use to help fund nonbank mortgage servicers.

As the COVID-19 economic picture worsens, the GSEs are getting more discerning about what type of loans they will purchase.

It’s not final yet, but servicers stand to make at least $500 per unit to handle GSE loans that need to be deferred because of COVID-19-related hardships.

Democratic lawmakers have urged federal entities to take steps to help servicers. Meanwhile, CFPB issued best practices for MSR transfers.

In an effort to add liquidity to the market for servicing advances, Ginnie Mae is permitting a note structure, which allows for the securitization of servicing cash flows through a trust. First user: PennyMac.

While it may seem the Fed’s actions can directly affect mortgage rates, Wells Fargo analysts said any such effect may get counterbalanced.