PennyMac Cracks List of Top 10

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When it comes to mortgage lenders, PennyMac has been making waves in the industry. Recently, the company has broken into the top 10 of mortgage originators in the United States, according to data from Inside Mortgage Finance.

What is PennyMac?

For those who aren’t familiar, PennyMac is a mortgage lender that was founded in 2008. The company is headquartered in Westlake Village, California, and has offices around the country. PennyMac offers a wide range of loan products, including conventional, FHA, VA, and jumbo loans.

One of the things that sets PennyMac apart from other lenders is its technology. The company has invested heavily in its digital platform, which allows borrowers to apply for loans and track the progress of their applications online. This has helped PennyMac streamline the loan process and make it more efficient for borrowers.

How Did PennyMac Crack the Top 10?

So, how did PennyMac break into the top 10 of mortgage originators in the US? According to Inside Mortgage Finance, PennyMac originated $34.2 billion in mortgages in 2020, which was enough to secure the company’s spot in the top 10.

Part of the reason for PennyMac’s success is the strong demand for mortgage loans in the current market. With interest rates at historic lows, many people are looking to buy homes or refinance their existing mortgages. PennyMac has been able to capitalize on this demand by offering competitive rates and a streamlined application process.

What Does This Mean for Borrowers?

If you’re in the market for a mortgage, PennyMac’s success is good news for you. The company’s strong position in the industry means that it has the resources and expertise to offer competitive rates and a wide range of loan products. Additionally, PennyMac’s digital platform can make the loan process faster and more convenient for borrowers.

Of course, PennyMac isn’t the only lender out there. It’s always a good idea to shop around and compare rates and terms from multiple lenders before choosing one. But with its recent success and strong reputation, PennyMac is definitely worth considering as you explore your options.

Conclusion

PennyMac’s recent inclusion in the top 10 of mortgage originators in the US is a testament to the company’s success and expertise in the industry. With its competitive rates, wide range of loan products, and innovative digital platform, PennyMac is a strong choice for borrowers looking for a mortgage. If you’re in the market for a loan, be sure to give PennyMac a look.

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