Pennymac to acquire Cenlar, adding $740B in subservicing

“Having worked closely with the Cenlar team, we have reached an agreement that represents a compelling value proposition for our stockholders, Cenlar’s institutional clients and their clients’ borrowers, as well as the many talented professionals joining Pennymac.”

Spector said that upon completion of the acquisition, Pennymac will become the second-largest U.S. mortgage servicer…