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PennyMac’s proprietary pricing engine gives brokers flexibility with pricing options

PennyMac Broker Direct is one of the fastest growing wholesale lenders in the country

As one of America’s largest mortgage lenders and servicers, PennyMac is bringing new energy to the wholesale channel.

PennyMac Broker Direct is one of the fastest growing wholesale lenders in the country – recently moving into the top 10 rank in wholesale, according to IMF.

PennyMac is committed to the wholesale channel and to the long-term success of the broker community.

Broker partners find a competitive advantage working with PennyMac – from pricing and innovative products that meet their borrower’s needs, to custom technology and services that accelerate their business.

Plus, as one of the largest servicers in America with more than 1.8 million loans, PennyMac commits permanent investment capital into retained mortgage servicing rights.

“It’s exciting to think that we can take the power of everything we’ve built to become an industry leader and put that into the hands of our broker partners, enabling them to succeed and build a strong referral base within their local communities,” said Kimberly Nichols, managing director, PennyMac Broker Direct.

The company is known for its high-touch customer service for its broker partners. Each of PennyMac’s broker partners is assigned their own Broker Operations Manager (BOM) to serve as a dedicated point of contact from beginning to end.

BOMs are highly trained allies and technical mortgage experts. Each BOM has 5-7 years of mortgage experience, leveraging their knowledge to help broker partners with the entire loan process.

Their role is to help proactively address any issues that may come up with a loan, allowing broker partners to focus on closing more loans in the most efficient way possible.

PennyMac has spent years on its proprietary pricing engine, which takes complex secondary market execution algorithms and pushes the results into its POWER portal, where a broker partner has nearly infinite pricing options made available within seconds.

POWER’s robust pricing engine includes Perfect Rate and Perfect Term capabilities. With Perfect Rate, broker partners can offer borrowers rates tailored down to the thousandth. Perfect Term allows brokers to customize terms down to the exact month. This level of flexibility results in more successful solutions.

POWER gives broker partners a better view of their entire loan pipeline. With real-time updates, notifications, action items and tracking abilities, broker partners are able to provide their borrowers and real estate clients accurate information with a single click.

“We are focused on building and delivering a seamless experience for brokers,” said Doug Ingalls, EVP of Mortgage Fulfillment – Client Engagement.

In addition, PennyMac’s OPTIMIZE solution helps broker partners deliver the best possible mortgage insurance pricing for borrowers.

OPTIMIZE includes industry-leading MI rates with a best-x search between all borrower-paid mortgage insurance options as well as lender-paid mortgage insurance options.

“As one of the largest non-bank lenders in the nation, we are firmly committed to this channel,” said Jeff Keeland, EVP of Mortgage Fulfillment for Broker Direct Lending Channel.

“We are making the investment in technology to deliver against what we believe is our core competency operationally, providing consistency in the loan experience by providing a repeatable process that is accurate and on-time, every time for our customers.”

Kim Nichols—Managing Director, PennyMac Broker Direct, PennyMac Loan Services

With an extensive 30+ year career in the mortgage industry, Kim Nichols has a track record of building teams and growing businesses. She joined PennyMac in 2011 and in 2018, she took the reins as Managing Director of the new wholesale start-up division called PennyMac Broker Direct which, under her leadership, is one of the fastest growing lenders in the wholesale channel.

Jeff Keeland—EVP of Mortgage Fulfillment for Broker Direct Lending Channel, PennyMac Loan Services

An accomplished leader with a proven track record recognized for driving execution and delivering exceptional results, Jeff Keeland has over 32 years of mortgage lending experience with executive oversight across sales, operations, credit, organizational strategy/business execution, risk and vendor management. Keeland joined PennyMac in December 2015 and was responsible for developing and helping to build out the non-delegated and wholesale lending platforms.

Doug Ingalls—EVP of Mortgage Fulfillment – Client Engagement for Broker Direct Lending Channel, PennyMac Loan Services

Doug Ingalls has a passion for residential lending and a passion for his customers. Ingalls’ team performs key client facing engagement functions for PennyMac’s Broker Direct channel. He has 25 years of experience creating solutions for retail, wholesale, correspondent and warehouse banking operations. Ingalls is a graduate of the University of Arizona.

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