PennyMac Financial Services, Inc.PFSI

PennyMac expanded AWS partnership and launched proprietary Natural Language Virtual Agent using AI agents.

“BUSINESS UPDATES Continued to make progress on the acquisition of Cenlar’s subservicing business and expect the transaction to close in the fourth quarter 4 Conventional first-lien refinance recapture rates increased 7 percentage points from the prior quarter to 29% and government first-lien refinance rapture rates increased 9 percentage points from the prior quarter to 59% Expanded our strategic partnership with Amazon Web Services to further bolster our transformation as an AI-driven mortgage technology leader Our new consumer direct loan origination system has facilitated a rapid implementation of process-automating AI agents, including the launch of a proprietary Natural Language Virtual Agent (NLVA) across both outbound and inbound calls”

PennyMac is automating workflows with AI agents targeting 20%+ reduction in processing costs per loan.

“9 ADDITIONAL EFFICIENCIES TO BE REALIZED IN CONSUMER DIRECT Workflow & Objective Automation Substantial Reduction in Cost-to-Produce Standardizing 150 distinct operational workflows across the full origination lifecycle for all products % of processes automated or done by AI agents Automating labor-intensive, lower-funnel tasks to enable additional sales and processing capacity Expecting to achieve significant annualized cost savings Targeting a 20%+ reduction in processing costs per loan from June to September Turn-Time Reduction VA IRRRL(1) FHA Streamline Conv. CES(1) 1.6 days 8.7 days 2.9 days 10.1 days 8.2 days 8.7 days Submission to conditional approval 4.9 days 3.7 days Natural Language Virtual Agent: Outbound dispatch and 24/7 service for borrower inquiries and callback scheduling Frictionless Onboarding: Automated link delivery, real-time pre-qualification, and routing of priority contacts directly to loan officers Conversion & Loyalty: Superior customer experience strengthens brand trust and directly feeds higher portfolio retention ~40-80% reductions in turn times across major loan programs AI agents are accelerating submission to conditional approval and closing loans quicker Elevated Customer Service & Engagement (1) VA IRRRL = VA Interest Rate Reduction Refinance Loan; CES = closed end second lien”

PennyMac launched a proprietary Natural Language Virtual Agent for outbound and inbound calls.

“Our new consumer direct loan origination system has facilitated a rapid implementation of process-automating AI agents, including the launch of a proprietary Natural Language Virtual Agent (NLVA) across both outbound and inbound calls”