Pennymac Makes Its Move – Are You Ready to Take Advantage of Wells Fargo’s Correspondent Exit?

Pennymac Makes Its Move – Are You Ready to Take Advantage of Wells Fargo’s Correspondent Exit?

In April 2020, Wells Fargo announced it would be exiting the mortgage correspondent market. As one of the largest mortgage originators and servicers in the US, this surprise move sent shockwaves throughout the mortgage industry.

The move left mortgage lenders, brokers, and servicers scrambling to find ways to fill the void and prevent a potential disruption to their business.

PennyMac Steps In to Fill the Void

In response to Wells Fargo’s announcement, PennyMac quickly stepped in to fill the void.

The company offered a welcome alternative to Wells Fargo’s correspondent lending program with a suite of loan products that cover a wide range of borrower needs.

PennyMac also has a solid track record of providing reliable customer service and a streamlined loan process.

What Does PennyMac Offer?

PennyMac offers a variety of loan programs, including conventional, FHA, and VA loans. Each product has its own advantages and can be tailored to meet the needs of each borrower.

PennyMac also offers a wide range of mortgage options, such as fixed-rate, adjustable-rate, jumbo, and refinance loans.

As one of the largest and most experienced mortgage lenders in the US, PennyMac is committed to providing the highest level of customer service. This includes same-day loan processing, competitive rates, and fast closing times.

How Can PennyMac Benefit You?

PennyMac’s mortgage programs can help you find the right loan for your needs. Whether you’re a first-time homebuyer or an experienced investor, PennyMac has a loan program to suit your needs.

PennyMac also offers a variety of tools and resources to help you navigate the mortgage process. This includes online tools such as a mortgage calculator, loan estimator, and loan comparison tool.

Additionally, PennyMac’s team of experienced loan officers is available to help you understand the loan process and answer any questions you may have.

Conclusion

The exit of Wells Fargo from the mortgage correspondent market has left a void in the industry. However, PennyMac’s suite of loan products and experienced team of loan officers can help you find the right loan for your needs.

Take advantage of PennyMac’s comprehensive loan options and resources to help you navigate the mortgage process. With PennyMac, you can rest assured that you will be getting the best loan at the best rate possible.

Are you ready to take advantage of Wells Fargo’s correspondent exit and find the right loan through PennyMac? Contact one of our experienced loan officers today and get started on the path to homeownership.

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