Pennymac to Buy Cenlar Subservicing for $172.5M

Pennymac Financial Services agreed to acquire the subservicing business of Cenlar Capital Corp. for an upfront purchase price of $172.5 million and up to $85 million of contingent consideration payable over three years. Cenlar Capital is the parent company of Cenlar FSB, a large U.S. mortgage subservicer.

The transaction is subject to regulatory approval and other closing conditions, with closing expected in the second half of 2026. Pennymac said the deal would add 2 million loans and up to $740 billion in unpaid principal balance (UPB), bringing its servicing portfolio to over $1 trillion in UPB.