PennyMac Financial Services will build a mortgage fulfillment production center in Wake County.
The company will invest $4.3 million to build the production center in Cary. The firm’s new footprint will span 35,000 sq. ft. of production, business technology, and IT support.
PennyMac’s expansion will be facilitated, in part, by a Job Development Investment Grant approved by the state’s Economic Investment Committee earlier. Over the course of the 12-year term of the grant, the project is estimated to grow the state’s economy by more than $813 million.