"We operate a best-in-class platform with superior operational performance and efficiency. With this transaction, we expect to realize powerful synergies that further reinforce our standing as the market's most technologically advanced servicer. The transaction is expected to close in the second half of 2026, subject to customary closing conditions, including required regulatory approvals. Our team at Cenlar has been dedicated to building the nation's leading subservicing organization, grounded in a deep commitment to our clients, said David Schneider, president and CEO at Cenlar."
"By combining Cenlar's market-leading expertise with a top lender and servicer like Pennymac, we are forming the strongest subservicing platform in the industry. I am incredibly proud of what the Cenlar team has achieved and look forward to this next chapter as we collectively deliver superior scale, technology and care to the millions of homeowners we serve. Concurrent with closing, Cenlar will surrender its bank charter. Pennymac will acquire Cenlar's subservicing business as a nonbank entity focused exclusively on mortgage subservicing."
Pennymac will acquire Cenlar's subservicing business, combining Cenlar's market-leading expertise with Pennymac's platform to create a dominant subservicing platform. The acquisition will make Pennymac the second-largest U.S. mortgage servicer and a top subservicer, leveraging industry-leading SSE technology to expand capital-light, fee-based revenue streams and institutional subservicing partnerships. The transaction is expected to close in the second half of 2026, subject to regulatory approvals, and will generate operational synergies and enhanced customer service. Concurrent with closing, Cenlar will surrender its bank charter and Pennymac will operate the business as a nonbank focused exclusively on mortgage subservicing, transitioning about 100 institutional clients.
Read at www.housingwire.com
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