Mortgage

PennyMac launches broker direct channel

Broker Direct gives brokers access to company's POWER platform

PennyMac Financial Services announced Friday the launch of its broker direct channel, which offers mortgage brokers access to the company’s POWER platform, in addition to its centralized sales, client engagement services and fulfillment capabilities.

“We are excited to announce PennyMac’s entrance into the broker channel,” said Doug Jones, president of PennyMac Loan Services, an indirectly controlled subsidiary of PFSI. “We spent considerable time evaluating this channel and believe it is the right time for us to participate. Our new broker channel will provide opportunities to grow volumes in attractive segments of the market, such as purchase-money and prime jumbo mortgages. We expect to leverage our leading market position to successfully grow our broker direct platform and achieve a leadership position over time.”

PennyMac’s Broker Direct organization will be led by Kimberly Nichols, who also serves as the managing director of direct lending channels.

Through PennyMac’s POWER platform, brokers will be able to access data and have the ability to proactively manage their pipelines, the company said in a release, adding: “By providing detailed, accurate and timely communication to their customers on every loan, brokers and their loan officers can provide best-in-class service for their customers and maintain trust with their referral sources.”

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