Chief strategy officer Kevin Ryan says Pennymac’s proposed acquisition of Cenlar does not follow the same rationale as recent acquisitions in the mortgage industry.

“This deal is not a backdoor way to grow our origination business,” Ryan said in an exclusive interview with HousingWire. “We set a strategic plan two years ago when we said we wanted to grow subservicing. We like that — it’s fee income, and it’s not capital intensive. We’re not acquiring any MSRs in this transaction.”

On Wednesday, Pennymac announced its intention to acquire Cenlar for $257.5 million, following months of rumors details ⇒

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