Annaly Capital Acquires MSR Portfolio From PennyMac
Annaly Capital Management (NYSE:NLY) has agreed to acquire a portfolio of mortgage servicing rights (MSRs) from Pennymac Financial Services (NYSE:PFSI). The deal involves a subservicing and master purchase agreement, with Annaly's CEO David L. Finkelstein overseeing the transaction.
Annaly, led by Finkelstein who serves as both CEO and Chief Investment Officer, will purchase the MSRs from Pennymac. As of June 30, 2025, Annaly's MSR portfolio comprises 680,000 loans, with a total unpaid principal of $219 billion and a market value of $3.3 billion.
Under the agreement, Pennymac will retain servicing and recapture responsibilities for the MSRs sold to Annaly. This arrangement allows Annaly to expand its MSR portfolio while Pennymac maintains its servicing role.
The agreement between Annaly Capital Management and Pennymac Financial Services will see Annaly acquire a significant MSR portfolio, bolstering its existing holdings. Pennymac will continue to service these MSRs, ensuring continuity for borrowers and investors.
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