PennyMac Financial Services, Inc. signed a definitive agreement to acquire subservicing business of Cenlar Capital Corporation for approximately $260 million.
PennyMac Financial Services, Inc. (NYSE:PFSI) signed a definitive agreement to acquire subservicing business of Cenlar Capital Corporation for approximately $260 million on February 11, 2026. A cash consideration of $172.5 million will be paid by PennyMac Financial Services, Inc. PennyMac Financial Services, Inc. will pay an contingent payment of $85 million cash. As part of consideration, $257.5 million is paid towards assets of subservicing business of Cenlar Capital Corporation.
The transaction is subject to approval by regulatory board. The transaction is expected to close in the second half of 2026.
Santander US Capital Markets LLC acted as financial advisor for PennyMac Financial Services, Inc. Goodwin Procter LLP acted as legal advisor for PennyMac Financial Services, Inc. Houlihan Lokey, Inc. acted as financial advisor for Cenlar Capital Corporation. Sullivan & Cromwell LLP acted as legal advisor for Cenlar Capital Corporation.
PennyMac Financial Services, Inc. is a specialty financial services company, which is focused on the production and servicing of the United States mortgage loans and the management of investments related to the United States mortgage market. The Company operates through two segments: production and servicing. The production segment performs loan origination, acquisition and sale activities for its account, as well as for PennyMac Mortgage Investment Trust (PMT). Its loan production segment sources new prime credit quality residential conventional and government-insured or guaranteed mortgage loans through three channels: correspondent production, broker direct lending and consumer direct lending. The servicing segment performs servicing and subservicing of loans on behalf of non-affiliate investors, execution and management of early buyout transactions, and servicing of loans sourced and managed for PMT.
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PennyMac Financial Services, Inc. signed a definitive agreement to acquire subservicing business of Cenlar Capital Corporation for approximately $260 million.
