PennyMac has announced its strategic decision to retain servicing on all non-QM (Qualified Mortgage) products as part of its expansion plans. This move underscores the company’s commitment to diversify its offerings in the mortgage market, particularly in the non-QM space, which caters to borrowers who may not fit the traditional lending criteria. By maintaining control over servicing, PennyMac aims to enhance customer service and streamline operations, ultimately fostering stronger client relationships and improving the borrower experience. This initiative signals PennyMac’s confidence in the growth potential of non-QM products, which have gained traction in recent years due to their flexibility.
Key elements of PennyMac’s non-QM launch include:
– **Retention of Servicing**: PennyMac will maintain servicing for all non-QM products to ensure superior customer service and relationship management.
– **Market Expansion**: This initiative reflects PennyMac’s strategy to broaden its mortgage offerings and meet the evolving needs of a diverse borrower demographic.
– **Commitment to Borrower Experience**: By retaining servicing, the company seeks to improve operational efficiency and facilitate a smoother borrower experience in the mortgage process.
You can read this full article at: https://wrenews.com/pennymac-correspondent-group-to-launch-non-qm-products/
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