February 7, 2022 | Last week saw the start of the reporting season for publicly listed mortgage companies, with loanDepot (LDI) and PennyMac Financial Services (PFSI) issuing earnings results for Q4 and the full year. “Economic forecasts for 2022 total originations average $3.1 trillion,” PFSI observed. “While a large market by historical standards, it reflects a substantial decline from a record 2021 ‒ Excess industry capacity established in recent years will need to be right-sized” -- all comments familiar to readers of the Premium Service of The Institutional Risk Analyst.
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