November 2013 search results for the mortgage originator & refinancer Pennymac, saw a 116% increase in searches compared to the prior month.
I was curious to see how the google search rate stacked up against other mortgage originators involved in residential mortgage lending. So I conducted a review of search volume for the last three years. The results were very surprising:
Independent view of Pennymac search volume trend:
Pennymac compared against other mortgage originators:
Search Volume for other mortgage originators:
On a positive note, it seems that searches for PennyMac is bucking the overall trend; Over the last 12 months it has seen its search growth increase exponentially, while it’s competitors have a deteriorated.
Despite this it seems that there is a bit of disconnect between Pennymac’s (mortgage trust) share value versus it’s search volume/financial performance. Since January 2013 the share price has depreciated from a high of ~$29 to the current price of ~$22, this is despite significant revenue and earnings growth.
If Pennymac can continue the momentum in both financial performance and search volume, it may be a position to hold on to.