Pennymac Correspondent Group Launches New Non-QM Offerings to Support Self-Employed and Non-Traditional Borrowers

PennyMac Financial Services, Inc. (NYSE: PFSI) (Pennymac) today announced that its Correspondent Group will launch a new suite of non-qualified mortgage (non-QM) products on September 22. These products will expand access to flexible financing for borrowers who do not meet traditional agency criteria.

Pennymac Correspondent Group’s new product types include:

• Debt Service Coverage Ratio (DSCR): For real estate investors where loan qualification is based on the property’s cash flow rather than the borrower’s personal income.
• A+, A, A-: Designed for creditworthy borrowers who have non-traditional income profiles, such as self-employed professionals or entrepreneurs.

“Our non-QM offerings are about unlocking opportunities for our Pennymac Correspondent clients and the borrowers they serve,” said Alex Boand, Chief Correspondent Production Officer at Pennymac Correspondent Group. “The non-QM space continues to grow, and we’re excited to offer a competitive, high-quality product line to meet demand among our clients.”

Pennymac’s non-QM offerings provide lenders flexibility on both borrower qualification and loan structure. Income documentation options include Full Documentation, Streamlined (12 months), Bank Statement, Asset Depletion, Asset Qualifier, 1099, and Verbal Verification of Employment. Eligible borrowers include first-time homebuyers, first-time investors, and non-permanent residents among others.

“These solutions are built to meet the real needs of today’s diverse borrower base,” said Nick Pabarcus, Managing Director and Non-QM Sales Leader at Pennymac. “Whether someone is a self-employed professional using bank statements or an investor relying on Debt Service Coverage Ratio, our Non-QM suite provides flexible, well-structured options.”

To provide a deeper dive into the new offerings, Pennymac will host a live webinar featuring Alex Boand and Nick Pabarcus on September 10 at 11 a.m. PT / 2 p.m. ET. Interested parties can register here.

Pennymac intends to retain servicing on all non-QM products. The initial rollout will be for delegated correspondent sellers on a best-effort basis. Non-QM products will also be made available through Pennymac TPO beginning in Q4 2025.

To learn more or get started, partners are encouraged to contact their Pennymac Account Manager or visit corr.pennymac.com for additional details.

About PennyMac Financial Services, Inc.

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. Founded in 2008, the company is recognized as a leader in the U.S. residential mortgage industry and employs approximately 4,400 people across the country. For the twelve months ended June 30, 2025, PennyMac Financial’s production of newly originated loans totaled $134 billion in unpaid principal balance, making it a top lender in the nation. As of June 30, 2025, PennyMac Financial serviced loans totaling $700 billion in unpaid principal balance, making it a top mortgage servicer in the nation.

Forward-Looking Statements

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