PennyMac’s first-of-its-kind omnichannel technology platform improves process, production and customer experience across all of its originator and aggregator channels. While technology and innovation have been the nexus of PennyMac’s ascent and industry-leading quality reputation, the company unveiled P3, a cloud-based system that revolutionizes the speed and precision of the loan acquisition process. Several new technology implementations reengineer typical industry tech to a level of loan production and servicing know-how across all PennyMac channels, yielding the highest mortgage IQ concentrated in one company. Solidifying its commitment to bring innovative processes and products to market, PennyMac recently established the Consumer Experience Innovation Center for continuous research and technology advancement at the center of its team of nearly 1,000 technologists.
- All correspondent clients migrated to the P3 platform with over $43 billion in lock volume processed
- Servicing Systems Environment provided automated plan enrollment for 93% of forbearance customers, reflecting the ability to respond to a rapidly changing market
- Pretax income in Q3 for the servicing segment excluding valuation‐related changes was a record $179.5 million, up from $86.9 million in the prior quarter and $25.2 million in the third quarter of 2019
Loan Origination, Servicing, Secondary
Westlake Village, CA