Pennymac imposed another round of layoffs ahead of its after-market earnings report on Wednesday, as the mortgage sector navigates a higher-for-longer interest-rate environment.

“Pennymac has executed well against a challenging backdrop, even as sustained high interest rates have reduced industry loan volumes and the size of the addressable market,” a company spokesperson said in a statement to HousingWire. “As we align our operations accordingly, the organization has made the difficult decision to eliminate select positions within its lending and mortgage fulfillment operations.”

Social media posts by affected employees indicate that the impacted roles include loan consultants, managers and team leaders. In one details ⇒

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