Pennymac launches full-service, non-formed mortgage solution
On Thursday Pennymac Financial Services Inc. announced the launch of its full-service, non-deregated mortgage solution, Nondel+, an end-to-end loan experience within its Dynamic Power+ Portal.
According to a press release from the company, the new product is “specifically tailored to bank partners who appreciate control of their loans, but support for disclosures, loan documents and extra services.”
Kim Nichols, the most important TPO production officer from Pennymac, expressed excitement about the new tool with which the lender excited by California can keep more loans in the California.
“We are proud to expand our TPO offer with Nondel+, which has been created to enable our TPO partners to thrive in the non-delegated credit space,” Nichols said in a statement. “This advanced platform made possible by our own Power+ technology reflects our commitment and investments in TPO and further establishes Pennymac as a leading player in the wholesale channel.”
Nondel+ is designed to deliver speed and fluidity in the loan process and, according to the announcement, will forgive the full end-to-end credit process.
Some functions of the tool include partner options for fully conforming disclosures and documents, real -time compliance checks, partner control of loan level costs and access to optimizing, Pennymac’s mortgage insurance prices.
According to data from Inside Mortgage Financing, Pennymac was the second largest lender in the country last year, which arose from $ 115 billion in loans. The volume grew by 16.5% compared to 2023.
