PennyMac unveils Broker Direct channel.
Global Banking News-January 15, 2018--PennyMac unveils Broker Direct channel
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Global Banking News - 15 January 2018
PennyMac Financial Services Inc. (NYSE: PFSI), a U.S. mortgage lender, has said that it has launched its Broker Direct channel, which provides mortgage brokers with access to the company's innovative POWER platform combined with its centralised sales, client engagement services and best-in-class fulfilment capabilities.
PennyMac's POWER platform is intended to allow brokers to have access to data and the ability to actively manage their pipelines. The platform enables the broker to self-serve for a variety of functions and facilitates seamless communication with PennyMac's client engagement team.
'We are excited to announce PennyMac's entrance into the broker channel,' said Doug Jones, president of PennyMac Loan Services LLC, 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.'
The company's new Broker Direct organisation will be led by Kimberly Nichols, an experienced mortgage executive who serves as managing director, Direct Lending Channels, for PennyMac.
A specialty financial services firm, PennyMac Financial Services Inc. has a comprehensive mortgage platform and integrated business focused on the production and servicing of U.S. mortgage loans and the management of investments related to the U.S. mortgage market. It serves as the fourth-largest producer of newly originated mortgage loans, according to Inside Mortgage Finance.
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