Pennymac’s profits shrink, but its servicing portfolio now stands at a massive $680B
Pennymac reported lower revenue and earnings in Q1 2025, but it still has one of the largest servicing portfolios in the country.
Lenders
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Randell Gillespie named president of LeaderOne
Gillespie will be tasked with growing LeaderOne, which has a “unique collaborative ownership model.”
Longbridge has a new addition to its proprietary reverse mortgage suite
Platinum Peak aims to offer higher LTVs for borrowers, with Longbridge saying it could help those who previously came up short.
Mortgage industry veteran Tammy Richards takes on new role at Kind Lending
Richards announced Tuesday on LinkedIn that she’s now the president of retail at Kind Lending, a move that comes a little less than a year after she joined the company.
UWM’s Jason Bressler explores Sphere LOS integration
In this episode of the PowerHouse podcast, Diego Sanchez interviews UWM CTO Jason Bressler about the lender’s integration with Sphere LOS.
Union Home Mortgage adds two executive leaders
Ohio-based UHM promoted Brian Smith to chief operating officer of retail lending and hired David Alonzo as its chief technology officer.
A&D Mortgage announces $459M RMBS transaction
The RMBS deal, done in partnership with Imperial Fund Asset Management and Clearwater Analytics, is expected to close on March 13.
Rocket showcases strategic pivot on Q4 earnings call
On Thursday’s earnings call for Q4 2024, the company reported that it generated net revenue of $1.8 billion and adjusted revenue of $1.2 billion, with the latter figure coming in at the high end of Rocket’s expectations.
Rocket plays the long game with its renter rewards program
The recently announced RocketRentRewards program from Rocket Mortgage — which the company says is the homeownership industry’s first offer to provide closing cost credits for renters — allows homebuyers who use Rocket as their lender to earn 10% back on their last 12 months of rental payments.
Newrez parent Rithm Capital posts 57% profit growth in 2024
Rithm Capital, which owns multichannel mortgage lender Newrez, built upon its success in 2023 with net income of $835 million in 2024. That figure represented a 57% increase from its profit of $533 million a year earlier.