Compared to the previous quarter, PennyMac Financial Services Inc. grew its headcount, expanded its servicing portfolio and pushed up its mortgage production.
The specialty financial services firm reported in its second-quarter earnings data that home loan originations were $7.386 billion during the three months ended June 30.
New business was better than in the first quarter, when PennyMac closed $5.147 billion in mortgages.
Full first-half 2014 volume amounted to $12.533 billion.
Residential loan production was down, however, from the second-quarter 2013, when volume totaled $8.930 billion.
The most recent quarterly activity included $3.0 billion closed on a fee-based fulfillment arrangement for affiliate PennyMac Mortgage Investment Trust.
The correspondent portion of second-quarter originations was $6.983 billion. Correspondent market share was reported at 7.42 percent, rising from the first quarter’s 6.62 percent.
Total locks closed out June at $8.9 billion, rising from $6.1 billion at the end of March and pointing to another increase in third-quarter originations.
The Moorpark, Calif.-based company serviced $58.010 billion as of the end of June.
The servicing portfolio jumped from a downwardly revised $50.770 billion as of March 31 and a downwardly revised $18.896 billion as of June 30, 2013.
In addition, the company sub-serviced $35.555 billion as of the latest date.
Pre-tax income was $58 million from April 1 through June 30, climbing from $49 million three months earlier and $50 million a year earlier.
Staffing at PennyMac ended the second quarter in excess of 1,500 employees. Headcount grew from more than 1,400 as of the end of the first quarter.
