"Finkelstein added that the agreement builds on the company's servicing and recapture relationships and strengthens its mortgage servicing rights portfolio, which consists of 680,000 loans totaling about $219 billion in unpaid principal balance and $3.3 billion in market value as of June 30, 2025. Annaly has grown into a top 10 servicer of agency mortgage-backed securities since entering the MSR business in 2020. The company's MSR portfolio is made up of high-quality conventional loans with a weighted average FICO of 757 at origination and an average note rate of 3.24%."
"As we continuously look to optimize our capital and maintain prudent leverage, we are very pleased to announce this strategic, long-term partnership with a premier market participant like Annaly, said David Spector, chairman and CEO of Pennymac. We're especially excited to continue subservicing and providing recapture activities for this portfolio, which accelerates the growth of our new subservicing business."
"This sale continues our efforts to drive the concentration of our MSR portfolio toward higher-rate loans with significant recapture potential, and is a prime example of our active capital management activities. PennyMac is the nation's second-largest mortgage loan producer and sixth-largest residential loan servicer."
Annaly entered a strategic partnership with PennyMac to enhance servicing and recapture relationships and strengthen its mortgage servicing rights (MSR) portfolio. The MSR portfolio comprises 680,000 loans totaling about $219 billion in unpaid principal balance and $3.3 billion in market value as of June 30, 2025. Annaly has become a top-10 servicer of agency mortgage-backed securities since 2020, with portfolio loans originating at a weighted average FICO of 757 and an average note rate of 3.24%. PennyMac will subservice and perform recapture activities, accelerating PennyMac's subservicing growth. Responsibility allocation for specific MSR portions was not specified. The announcement follows Rocket Mortgage's existing partnership with Annaly.
Read at www.housingwire.com
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