Servicing earnings prop up Pennymac’s Q3 performance
Housing Wire
OCTOBER 26, 2023
According to Spector, many of the borrowers who are locked in a low, fixed-rate mortgage are incentivized to stay in their homes. billion in unpaid principal balance (UPB) as of Sept. The increase happened because production volumes more than offset prepayment activity, which is low due to higher mortgage rates.
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