PennyMac says its broker business is booming
By: Sarah Wolak | Published: 2025-07-22 22:23:00 | Source: www.housingwire.com
“We have clearly established ourselves as a trusted partner for brokers, and though we are already the third largest in the channel, we see tremendous momentum to continue our growth to more than 10% market share by the end of 2026,” Spector told investors.
Overall, PennyMac locked $7.2 billion in origination volume in the second quarter through the broker-direct channel, placing it third behind United Wholesale Mortgage and Rocket Pro. Its margin on broker business was 87 bps, and it represented 22% of production revenue.
Q2 financial performance
PennyMac’s second quarter represented a bounce-back from the first quarter’s net income of $76.3 million and revenue of $430.9 million.
The jump in net income was largely driven by a non-recurring $81.6 million tax…
