Annaly Capital Management, Inc. and PennyMac Financial Services, Inc. Enter Into Strategic Subservicing Relationship and Agreement to Purchase Mortgage Servicing Rights
Annaly Capital Management, Inc. (
NYSE: NLY) (“Annaly”), the world’s largest residential mortgage real estate investment trust, and PennyMac Financial Services, Inc. (
NYSE: PFSI) (“Pennymac”), a top mortgage lender and servicer, today announced the companies have entered into a subservicing agreement and a master purchase agreement. Concurrent with the execution of the agreements, Annaly agreed to purchase a portfolio of mortgage servicing rights (“MSR”) from Pennymac. Under the agreements, Pennymac will handle all servicing and recapture activities for the MSR sold to Annaly.
