Annaly Capital Management and PennyMac Financial Services announced today, 2025‑10‑02, that they have entered into a strategic subservicing relationship and a master purchase agreement. Under the terms, Annaly agreed to purchase a portfolio of mortgage servicing rights (MSR) from Pennymac, expanding its MSR holdings and strengthening its servicing network.
The acquired portfolio consists of approximately 680,000 loans, with an unpaid principal balance of $219 billion and a market value of $3.3 billion as of June 30 2025. The loans carry a weighted‑average FICO score of 757 at origination and an average note rate of 3.24 %. Pennymac will handle all servicing and recapture activities for the sold MSR.
By adding this high‑quality conventional loan portfolio, Annaly reinforces its position as a top‑10 servicer of Agency MBS and enhances its ability to generate servicing income. The partnership leverages Pennymac’s strong recapture capabilities, aligning with Annaly’s strategy to grow its MSR business and optimize capital allocation.
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