General World News

PennyMac expands consumer direct business

California-based PennyMac Financial Services will invest $3.9 million to open a new mortgage origination center in Franklin, Tennessee. The nonbank mortgage lender is expanding its consumer direct lending business while some competitors are laying off employees with the expectation that the channel cools down with higher mortgage rates.

PennyMac’s new project will create 325 jobs in Williamson County, but employees will acquire and interact with customers across the country through a headset. The company said it has 2 million customers and over 7,000 employees in 16 locations.

Doug Jones, president and chief mortgage banking details ⇒

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