PennyMac Financial Services enters broker channel

Mortgage brokers can now access the company’s POWER platform

PennyMac Financial Services enters broker channel
PennyMac Financial Services has launched its broker-direct channel, through which it is offering mortgage brokers access to its POWER platform as well as its centralized sales, client engagement services, and fulfillment capabilities.

Kimberly Nichols will lead the new broker-direct organization. She serves as managing director for direct lending channels for PennyMac.

PennyMac’s POWER platform allows brokers to manage their pipelines by providing access to data as well as communication to their customers. The platform also allows brokers to self-serve for a variety of functions and communication with PennyMac’s client engagement team.

Through the platform, PennyMac is also providing brokers access to its broker call center, its loan offerings, and loan fulfillment capabilities.

“We are excited to announce PennyMac’s entrance into the broker channel,” said Doug Jones, president of PennyMac Loan Services, an indirectly controlled subsidiary of PennyMac Financial Services. “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.”

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