The Senate confirmed U.S. District Attorney Jay Clayton on Tuesday to lead the Office of the Director of National Intelligence (DNI), formally ending Federal Housing Finance Agency (FHFA) Director Bill Pulte’s brief stint as acting intelligence chief. The 51-47 vote along party lines makes Clayton the director of national intelligence in President Donald Trump’s second […]

Heading into today’s Fed announcement, futures markets indicated roughly a 1 in 3 chance that the Fed would hike rates. They did not. This seems like it should have been good news for rates, but there’s a catch. Rates exist on a spectrum defined by “duration.” Specifically, there are different rates for different lengths of

PennyMac Financial Services admitted its second quarter results failed to meet expectations because of high interest rates, as well as funding the technology initiatives in artificial intelligence and automation. Processing Content “Although our operational execution remains solid, these results fell short of our expectations as interest rates increased and origination demand declined,” Chairman and CEO