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Pennymac delivers $145M profit in 2023 

Housing Wire

In a high-rate environment, Pennymac Financial Services delivered profits in 2023, mainly due to the performance of its servicing portfolio. million net income in 2023, down from $475.5 billion in unpaid principal balance (UPB) in 2023, down 9% year over year. million in Q4 2023, compared to a pretax income of $101.2

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Housing inventory defied all predictions in 2023

Housing Wire

Going into 2023, people thought housing inventory would skyrocket, home prices would crash, and we would see the housing market of 2008 all over again. Looking back on 2023, the inventory story was a big surprise even as mortgage rates headed toward 8%, as the data below will show. 9, 2022, and they’ll be ready for what’s coming next.

Inventory 518
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Just how bad was 2023 for the housing market?

Housing Wire

RIP 2023 — Whew, that was a year none of us would like to live through again. The factor for 2023 was 3.58%. Another startling fact was that 2023 saw just over 4 million existing home sales. That is how bad 2023 was for those of us in this business. Existing home prices as of the end of 2023 trade at 4.73

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The top 10 reverse mortgage lenders of 2023

Housing Wire

After a year of challenge in the reverse mortgage industry, the major lenders in the industry look a bit different for calendar year 2023 when compared with recent years past. Reduced volume, a challenging mortgage rate environment and industry consolidation has contributed to some of the broader changes.

Mortgage 441
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Rithm Capital delivers $524M profit in 2023 

Housing Wire

New York-based Rithm Capital posted a profit in 2023, a year marked by several acquisitions that turned the company into a leading global asset manager. million GAAP net income in 2023 — lower than the figure of $864.8 In 2023, Rithm acquired $1.4 million in 2023. billion in Q4 2023, lower than the $11.1

Valuation 430
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Master planned communities post strong new home sales numbers in 2023

Housing Wire

Despite high mortgage rates , master planned communities (MPCs) did well in 2023. According to a survey released Tuesday by John Burns Research & Consulting , the top 50 MPCs sold more than 34,600 new homes in 2023, up 24% from the nearly 28,000 sales in 2022.

Buyers 468
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Just 4.09 million existing homes were sold in 2023

Housing Wire

Existing home sales dropped to their lowest level in nearly 30 years in 2023, according to a report from the National Association of Realtors (NAR), released Friday. In 2023, 4.09 If there had been more listings on the market in 2023, we would have had more home sales.” million existing homes were sold, the fewest since 1995.

Inventory 451