Pennymac’s profits shrink, but its servicing portfolio now stands at a massive $680B

PennyMac Financial Services Inc. (PFSI) on Tuesday reported net income of $76.3 million for the first quarter of 2025 after it posted revenue of $430.9 million. These numbers were down from the previous quarter’s figures of $104.5 million and $470.1 million, respectively. The California-based lender’s pretax income was $104.2 million, which was down from $129.4 million in Q4 2024 but up from...

Severance on the high seas: First American CEO to receive fat payout following cruise ship assault charge

An illustration of the Virgin Voyages cruise ship in the Caribbean with piles of money surrounding it. (Image created with ChatGPT4o) Ken DeGiorgio, former CEO of First American Financial Corp., will collect a hefty payout following his termination from the title insurance giant, according to a shareholder report filed with the U.S. Securities and Exchange Commission. First American announced...

10 Times to Hire a Builder (10 photos)

Wondering if it’s time to hire a homebuilder? Some builders work on custom homes with individual clients in collaboration with the homeowner’s architect, while others are also developers, purchasing land and creating communities of customizable homes. If you’re thinking of building a home or...

Ukraine’s Inzhur Sees Real Estate Investment as Opportunity to Rebuild Nation

Shrink The Ocean Plaza shopping mall is an iconic shopping center in Kyiv and also the first of its kind to be successfully nationalized from sanctioned Russian assets. Photo courtesy of Inzhur. Expand The Ocean Plaza shopping mall is an iconic shopping center in Kyiv and also the first of its kind to be successfully nationalized from sanctioned Russian assets. Photo courtesy of...

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