"PennyMac posted net revenues of $632.9 million in Q3 2025, up 42% on a quarterly basis and 54% higher on a yearly basis. Expenses rose 8% between the second and third quarters to reach $396.5 million. PennyMac Financial delivered outstanding financial and operational results in the third quarter, with an 18 percent return on equity, David Spector, the company's chairman and CEO, said in a statement."
"The increase reflected strong recapture in our consumer direct lending division combined with the continued expansion of our presence in broker-direct as our partners increasingly recognize the value of entrusting us with their borrowers' mortgage experience. The strong core performance of the asset was highlighted in the third quarter by the success of our hedging program, which offset MSR fair value declines and demonstrated the financial stability that is central to our operating model."
"A further boost is expected in the near future after the company launched a suite of non-QM products through its correspondent division in September. The company's total loan acquisitions and originations, including those fulfilled through PennyMac Mortgage Investment Trust, fell 4% from the second quarter to $36.5 billion in unpaid principal balance (UPB). But that was still 15% higher compared to the same period last year."
PennyMac posted net revenues of $632.9 million in Q3 2025, increasing 42% sequentially and 54% year-over-year. Expenses rose 8% quarter-over-quarter to $396.5 million, while return on equity reached 18 percent. Production profitability nearly doubled from the prior quarter due to strong recapture in consumer direct lending and expanded broker-direct activity. Servicing portfolio grew organically to nearly $720 billion in unpaid principal balance. The hedging program offset MSR fair value declines, reinforcing financial stability. Production pretax income was $122.9 million, total loan acquisitions and originations fell 4% sequentially to $36.5 billion UPB but rose 15% year-over-year.
Read at www.housingwire.com
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