Posted To: Pipeline Press

“I’ve started investing in stocks: beef, chicken, and vegetable. One day I hope to be a bouillonaire.” There might be a few less “bouilonaires” owning PennyMac stock after yesterday. If you want to know what the market thinks of lenders/investors/servicers, public companies like PennyMac are a bellwether. And its price was down yesterday over 40 percent at one point. (Take a gander at the one month graph ; CRT exposure ? HUD suspending foreclosures for 60 days, impacting servicers?) Impac has suffered a similar fate , down more than 50 percent from earlier this month. Any lender with servicing rights, well, good luck. In the primary markets, retail organizations with branch networks are shutting down the branches and requesting LOs work from home or common areas…(read more)

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Source: Mortgage News Daily