Pennymac has announced a strategic decision to retain servicing on all non-qualified mortgage (non-QM) products, signaling a commitment to direct management of these assets. This move comes as part of the company’s broader strategy to enhance its Total Partnership Originations (TPO) channel, which will begin offering non-QM products. By retaining servicing in-house, Pennymac aims to maintain greater control over customer relationships and service delivery, ultimately improving borrower experience and operational efficiency.
This initiative reflects a growing trend among mortgage lenders to prioritize servicing retention, particularly in niche markets like non-QM loans. By managing its own servicing, Pennymac can respond more rapidly to changes in customer needs and market dynamics. The decision also reinforces the company’s focus on building stronger partnerships with brokers and other TPO channels, paving the way for increased product availability and enhanced support for their clients.
**Key Elements:**
– **Servicing Retention:** Pennymac will keep servicing on all non-QM products.
– **TPO Channel Launch:** Non-QM products will be introduced through the TPO channel.
– **Operational Control:** In-house servicing enhances control over customer experiences.
– **Market Positioning:** Indicates a shift towards servicing retention in the mortgage industry.
You can read this full article at: https://www.housingwire.com/articles/pennymac-correspondent-non-qm-mortgage-offerings/(subscription required)
Note Servicing Center provides professional, fully compliant loan servicing for private mortgage investors so they can avoid the aggravation of servicing their own loans and just relax and get paid. Contact us today for more information.
