PennyMac Financial Services, Inc. filed a Current Report on Form 8-K on September 14, 2026, to disclose an investor update regarding the company’s business performance through the third quarter of 2026.
The update, presented at the Barclays Global Financial Services Conference, provides a breakdown of the company’s funding and lock activity for the period. Through August 31, 2026, PennyMac reported total acquisitions and originations of $16.6 billion, which includes correspondent acquisitions of $10.5 billion, broker direct originations of $3.7 billion, and consumer direct originations of $2.4 billion. The company also reported total interest rate lock commitments of $18.2 billion during this timeframe.
The filing outlines specific expectations for the company’s three main business segments for the third quarter of 2026. In the Production Segment, management noted that with mortgage rates up 50 basis points from June 30, 2026, pretax income is expected to be lower than the second quarter of 2026. The company projects a revenue margin of 75 to 85 basis points for the quarter, compared to 77 basis points in the second quarter.
Regarding the Servicing Segment, the update indicates that pretax income is expected to be higher than the second quarter. However, the company anticipates that the realization of mortgage servicing right (MSR) cash flows will decline by more than 10% due to lower prepayment speeds. The filing also notes that the company’s owned portfolio, with a unpaid principal balance (UPB) of $503 billion, has increased from June 30, 2026, as production volumes have more than offset runoff from prepayments.
Finally, the update states that corporate pretax loss is expected to be similar to the third quarter of 2025.
The filing includes a standard set of forward-looking statements and a detailed list of risk factors that could cause actual results to differ materially from projections. These factors include changes in interest rates, macroeconomic conditions, housing prices, and regulatory changes, as well as risks related to the company’s indebtedness, cybersecurity, and the integration of acquired businesses.
