Annaly Capital Management Inc., the world’s largest residential mortgage real estate investment trust (REIT), announced on Wednesday afternoon that it reached an agreement with PennyMac Financial Services Inc. to buy a portfolio of mortgage servicing rights (MSRs) while leaving PennyMac to manage the loans.

The deal includes a subservicing agreement and a master purchase agreement under which PennyMac will handle all servicing and recapture activities for the loans tied to the MSRs Annaly is acquiring. Terms of the transaction were not disclosed.

“We look forward to collaborating with Pennymac through this strategic partnership, which enhances our best-in-class network of details ⇒

BusinessMediaguide.Com portal received this content from this noted web source: HousingWire.Com