PennyMac Financial Services is set to acquire the subservicing business of Cenlar Capital Corporation, expanding its mortgage servicing portfolio by up to $740 billion in unpaid principal balance and 2 million loans. The all-cash transaction includes an upfront payment of $172.5 million, with up to $85 million in additional contingent consideration over three years. Following the deal, PennyMac’s total servicing portfolio will exceed $1 trillion, making it the second largest mortgage servicer in the U.S. The agreement includes the transition of approximately 100 institutional clients and the integration of Cenlar’s mortgage servicing operations and employees into PennyMac’s platform. The transaction is expected to close in the second half of 2026, after which Cenlar will surrender its bank charter and PennyMac will operate the acquired business as a non-bank entity focused on mortgage subservicing.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. PennyMac Financial Services Inc. published the original content used to generate this news brief via Business Wire (Ref. ID: 20260211950386) on February 11, 2026, and is solely responsible for the information contained therein.