Earnings and mortgage originations at PennyMac Financial Services Inc. saw quarter-over-quarter gains and year-over-year losses. A wholesale channel is about to open.

Pre-tax income at the Westlake Village, California-based mortgage banking firm came to $94 million, according to its third-quarter earnings report.

Earnings retreated from $139 million in the same three-month period last year. But income improved from $58 million during the second quarter of this year.

Source: Mortgage Daily