On Thursday, PennyMac Financial Services Inc. announced the launch of its full-service, nondelegated mortgage solution, NonDel+, an end-to-end loan experience within its dynamic POWER+ portal.
According to a company press release, the new product is “specifically tailored to banker partners who value control over their loans, but desire support with disclosures, loan documents and additional services.”
Kim Nichols, Pennymac’s chief TPO production officer, expressed excitement about the new tool that allows the California-headquartered lender to keep more loans in house.
“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 said in a statement. “This cutting-edge platform enabled by our proprietary POWER+ technology reflects our commitment and investment in TPO and further establishes Pennymac as a preeminent player in the wholesale channel.”
NonDel+ is designed to deliver speed and fluidity in the loan process and will facilitate the full end-to-end lending process, according to the announcement.
Some of the tool’s features include partner capabilities to generate fully compliant disclosures and documents, real-time compliance checks, partner control of loan-level fees, and access to OptiMIze, Pennymac’s mortgage insurance pricing tool.
According to data from Inside Mortgage Finance, Pennymac was the nation’s second-largest lender last year, originating $115 billion in loans. Its volume grew by 16.5% compared to 2023.
