fromwww.housingwire.com
1 week agoPennyMac's strategic growth amid mortgage industry shifts
Spector said the transaction allows Pennymac to monetize a mature asset, freeing up capital to deploy into new, higher-coupon MSRs with greater recapture and return potential. Importantly, we retain the core elements that drive the growth of our mortgage flywheel the subservicing, recapture and marketing rights for closed-end seconds and other products, preserving our customers' ongoing relationship with PennyMac, he added.
Real estate