Earnings increased and servicing expanded at PennyMac Financial Services Inc. But originations were down from last year, and delinquency deteriorated.

In its second-quarter earnings report, the Westlake Village, California-based company disclosed pre-tax income during the period of $75 million.

Earnings accelerated from the same three months last year, when pre-tax income was $58 million. Results were modestly better than $73 million in the prior period.

Source: Mortgage Daily