Pennymac profit drops in Q2 as rates bite, layoffs follow
Pennymac posted Q2 net income of $22 million, down 84% YoY, as lock volume fell 18% and adjusted ROE slipped to 7%.
Mortgage Servicing
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Newrez servicing arm sued in New Jersey over alleged RESPA violations
Homeowner alleges Shellpoint delayed loss-mitigation reviews and sent inconsistent figures while foreclosure activity continued.
FOA completes deal for Onity reverse mortgage assets, adding $5.2B in UPB
FOA will also acquire Onity’s pipeline of reverse mortgage loans, and Onity will exit the reverse mortgage originations business.
Ginnie Mae’s Joseph Gormley sounds the alarm on ‘risk-layered’ FHA portfolios
Ginnie Mae removed TPP loans from delinquency counts, expects cures to improve and ramps up loan-level transfers to boost liquidity.
PennyMac Q1 earnings: Strong mortgage production offsets weaker servicing results
PennyMac earned $82.3M in Q1, adjusted $117.7M. Production pretax income rose, while MSR hedges hit servicing.
Foreclosure filings accelerate in early 2026 as servicer pressure builds
Foreclosure activity accelerated in the first quarter of 2026, with signs of mounting operational pressure for mortgage servicers and downstream vendors.
NRMLA webinar to cover reverse servicing and maturity events
An upcoming NRMLA webinar will dive into reverse mortgage servicing, set-asides, and due-and-payable options, including nonrecourse rules.
Banks eye bigger role in mortgages as regulators reconsider capital rules
Top banks in the mortgage space have relied on a similar playbook for years, but they say they could become more aggressive if upcoming changes to capital rules provide more flexibility.
Mortgage trade groups urge VA to revise elements of proposed partial claim rules
MBA and CHLA asked VA to revise its partial claim and loss-mitigation proposal, pushing for a simpler waterfall and a 180-day lead time.
ICE’s Matt Dowd: MSP updates are ‘just a foundation’ for AI journey
ICE’s Matt Dowd said that the MSP update goes beyond aesthetics, positioning MSP to streamline high-frequency workflows.