Pennymac TPO Expands Offerings with Launch of Non-QM Products

New Offerings to Support Self-Employed, Entrepreneurs, and Business Owners

WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)--PennyMac Financial Services, Inc. (NYSE: PFSI) today announced that it has launched a comprehensive suite of non-qualified mortgage (Non-QM) products in its third party origination (TPO) division. These products are designed to help TPO partners solve complex borrower scenarios, expand their addressable market, and close more loans.

“Pennymac TPO’s newest offerings give our partners tools to help self-employed, entrepreneurs, and business owners participate in homeownership,” said Kim Nichols, Chief TPO Production Officer at Pennymac. “As the Non-QM space continues to grow, we’re excited to expand into this area and continue the significant growth of our TPO channel.”

Pennymac TPO’s Non-QM offerings are built with flexibility at their core, offering a wide array of income documentation options and loan features tailored to real-world borrower scenarios.

The new Non-QM suite comprises a broad range of tools, including:

• Debt Service Coverage Ratio (DSCR): A product designed for real estate investors that qualifies a loan based on a property’s cash flow rather than personal income.
• Full Documentation: A product for borrowers with excellent credit but non-traditional income sources.
• Bank Statement Programs: A product offering an alternative to tax returns, with income calculation based on deposit averaging and expense factors.
• Asset Qualifier/Depletion: A product allowing the use of verified liquid assets to qualify, ideal for retirees or high-net-worth individuals.
• Additional Non-QM programs, including Written Verification of Employment (WVOE) and 1099 options.

“Our Non-QM products help partners compete in a challenging market by offering disciplined, well-structured alternatives to traditional financing,” said Nick Pabarcus, Managing Director and Non-QM Sales Leader at Pennymac. “These solutions are built to recognize the diverse ways modern entrepreneurs build wealth, providing flexible qualification paths without compromising on loan performance.”

Pennymac TPO’s Non-QM products are now live and available to approved TPO partners.

To learn more or get started, partners are encouraged to contact their Pennymac Account Manager or visit tpo.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 4,900 people across the country. In 2025, PFSI’s production of newly originated loans totaled $145 billion in unpaid principal balance, making it a top lender in the nation. As of December 31, 2025, PFSI serviced loans totaling $734 billion in unpaid principal balance, making it a top mortgage servicer in the nation. Additional information about PFSI is available at pfsi.pennymac.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, regarding management’s beliefs, estimates, projections, and assumptions with respect to, among other things, our financial results, future operations, business plans, as well as industry and market conditions, all of which are subject to change. Words like “believe,” “expect,” “anticipate,” “promise,” “project,” “plan,” and other expressions or words of similar meanings, as well as future or conditional verbs such as “will,” “would,” “should,” “could,” or “may” are generally intended to identify forward-looking statements. Actual results and operations for any future period may vary materially from those projected herein and from past results discussed herein. Factors which could cause actual results to differ materially from historical results or those anticipated include, but are not limited to: interest rate changes; real estate value changes, housing prices and housing sales; changes in macroeconomic, consumer and real estate market conditions; compliance with changing federal, state and local laws and regulations applicable to the highly regulated industry in which we operate; lawsuits or governmental actions that may result from any noncompliance with the laws and regulations applicable to our business; the mortgage lending and servicing-related regulations promulgated by federal and state regulators and the enforcement of these regulations; the licensing and operational requirements of states and other jurisdictions applicable to our business, to which our bank competitors are not subject; difficulties inherent in adjusting the size of our operations to reflect changes in business levels; purchase opportunities for mortgage servicing rights; foreclosure delays and changes in foreclosure practices; our dependence on U.S. government-sponsored entities and changes in their current roles or their guarantees or guidelines; our obligation to indemnify third-party purchasers or repurchase loans if loans that we originate, acquire, service or assist in the fulfillment of, fail to meet certain criteria; our exposure to risks of loss and disruptions in operations resulting from severe weather events, man-made or other natural conditions, including climate change and pandemics; our ability to effectively identify, manage and hedge our credit, interest rate, prepayment, liquidity and climate risks; expanding or creating new business activities or strategies; our ability to detect misconduct and fraud; and our organizational structure and certain requirements in our charter documents. You should not place undue reliance on any forward-looking statement and should consider all of the uncertainties and risks described above, as well as those more fully discussed in reports and other documents filed by the Company with the Securities and Exchange Commission from time to time. The Company undertakes no obligation to publicly update or revise any forward-looking statements or any other information contained herein, and the statements made in this press release are current as of the date of this release only.