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Pennymac Financial Services Inc. (“Pennymac”) announced yesterday, on February 11, 2026, that it will acquire the subservicing business of Cenlar Capital Corp. This mergers-and-acquisitions (“M&A”) transaction is valued at approximately $257.5 million and is expected to close in the second half of 2026 (subject to customary closing conditions). The deal will add roughly $740 billion in unpaid principal balance (“UPB”) and about two (2) million loans to Pennymac’s servicing portfolio to bring its total mortgage servicing volume above $1 trillion in UPB. Once completed, the acquisition will make Pennymac the second-largest mortgage servicer in the United States and one of the largest subservicers in the industry. This is also Pennymac’s first M&A move in its history.
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