General World News

Pennymac launches two MSR-backed private offerings

Subsidiaries of Pennymac Financial Services Inc. (PFSI), which ranks as one of the top five mortgage lenders nationally, are seeking to raise more than $700 million in the debt markets through the sale of notes secured by mortgage servicing rights.

The transactions include a note offering of $305 million sponsored by PFSI subsidiary PennyMac Mortgage Investment Trust that is “secured by certain participation certificates relating to Fannie Mae mortgage servicing rights [MSRs],” states a recent filing by PFSI with the U.S. Securities and Exchange Commission (SEC).

Another subsidiary of PFSI, PennyMac Loan Services LLC, issued a separate private-label issuance of participation certificates valued in total details ⇒

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