On February 6, 2025, PennyMac Financial Services, Inc. (NYSE: PFSI) announced a significant enhancement to its Third Party Origination (TPO) capabilities with the launch of NonDel+, a full-service, non-delegated solution. This innovative offering is designed to streamline the lending process for banker partners who value both control and support. The unveiling of NonDel+ marks a notable milestone in PennyMac's commitment to providing cutting-edge mortgage solutions and solidifies its position as a leader in the wholesale lending space.

2. Empowering TPO Partners

According to Kim Nichols, Chief TPO Production Officer at PennyMac, the introduction of NonDel+ aims to empower TPO partners in the non-delegated lending sector. "We are proud to expand our TPO offering with NonDel+, which was created to empower our TPO partners to thrive in the Non-Delegated lending space," Nichols stated. This new platform, built on PennyMac's proprietary POWER+ technology, reflects the company's ongoing investment in TPO services and its goal of being a preeminent player in the wholesale channel.

3. Features and Benefits of NonDel+

NonDel+ offers an intuitive, end-to-end loan experience through the advanced POWER+ portal. The platform is designed to enhance efficiency and ensure compliance throughout the lending process. Key features of NonDel+ include:

Partner Capabilities: TPO partners can generate fully compliant disclosures and documents, ensuring adherence to regulatory requirements.

Advanced Pricing Tools: The platform incorporates dual Automated Underwriting Systems (AUS) integration, allowing for accurate pricing and risk assessment.

Real-Time Compliance Checks: Continuous compliance checks and eligibility reviews are integrated into the loan process, enhancing accuracy and reducing risks.

Control Over Fees: Partners maintain control over loan-level fees, providing flexibility in their pricing strategies.

OptiMIze Access: The platform includes access to OptiMIze, a competitive Mortgage Insurance pricing tool that automatically delivers the best-negotiated rates.

Streamlined Closing Process: A collaborative portal for settlement agents simplifies the closing process by enabling finalization of fees and ordering of closing documents.

On-Demand Support: The HELP+ feature and POWER+ Zoom Rooms offer partners immediate support and guidance when needed.

With these features, NonDel+ aims to deliver a fluid and efficient loan process, from initial setup and pricing through to closing and delivery of closed loans.

4. PennyMac's Position in the Market

PennyMac has established itself as the third largest wholesale lender and the number one acquirer of loans in the correspondent channel. The launch of NonDel+ further enhances its reputation as a provider of innovative mortgage solutions. The company prides itself on offering partners the tools and resources necessary to succeed in a competitive market, all while leveraging the POWER+ portal's dynamic capabilities for real-time updates and personalized support.

As a tech-forward and human-focused lender, PennyMac is committed to supporting its partners in growing their businesses and achieving their customers' homeownership aspirations.

5. About PennyMac Financial Services

Founded in 2008, PennyMac Financial Services, Inc. is a specialty financial services firm focused on the production and servicing of U.S. mortgage loans and the management of investments related to the U.S. mortgage market. The firm employs approximately 4,100 people nationwide and is recognized as a leader in the U.S. residential mortgage industry. In 2024, PennyMac Financial's production of newly originated loans reached $116 billion in unpaid principal balance, establishing it as a top lender in the nation. Additionally, as of December 31, 2024, the firm serviced loans totaling $666 billion in unpaid principal balance, making it one of the leading mortgage servicers in the country.

For more detailed information regarding NonDel+, interested parties can visit Pennymac's TPO page.

6. Conclusion

With the launch of NonDel+, PennyMac Financial Services is not only enhancing its TPO offerings but also reinforcing its commitment to innovation in the mortgage industry. This comprehensive solution is poised to provide banker partners with the control they need, while also ensuring they have the support required to navigate today’s complex lending landscape. As the company continues to evolve and adapt to market demands, NonDel+ is expected to be a key component in helping partners achieve their goals and drive success in the competitive mortgage market.

Original press release