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Servicing earnings prop up Pennymac’s Q3 performance

The servicing segment drove most of Pennymac Financial Services’s earnings in the third quarter of 2023, just like its peers, Mr. Cooper and Rithm Capital

Profits at the California-based lender increased by 60% from July to September, compared to the prior quarter, with originations also boosting performance. 

Pennymac announced on Thursday a $92.87 million net income in Q3 2023, up from $58.2 million in the previous quarter but down from $135 million in Q3 2022, per Securities and Exchange Commission (SEC) filings. 

David Spector, chairman and CEO, told analysts that the company had “outstanding details ⇒

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