PennyMac Financial Services is a specialty mortgage platform that originates and services residential mortgage loans across the United States through two main segments: production and servicing. On the production side, the company sources loans through correspondent purchases from other lenders, direct consumer lending via digital channels, and broker partnerships, retaining mortgage servicing rights on many of these loans. The servicing segment administers loan payments, collections, and loss mitigation across a large portfolio of owned and subserviced loans, generating recurring fee-based revenue. The company operates as an approved seller and servicer with all major government-sponsored entities and makes money through origination fees, interest income, gains on loan sales, and contractual servicing fees, while also managing a publicly traded mortgage investment trust.