Annaly Capital Management To Acquire Portfolio Of Mortgage Servicing Rights From PennyMac Financial Services Under Signed Master Purchase Agreement

Annaly Capital Management, Inc. (NYSE:NLY) ("Annaly"), the world's largest residential mortgage real estate investment trust, and PennyMac Financial Services, Inc. (NYSE:PFSI) ("Pennymac"), a top mortgage lender and servicer, today announced the companies have entered into a subservicing agreement and a master purchase agreement. Concurrent with the execution of the agreements, Annaly agreed to purchase a portfolio of mortgage servicing rights ("MSR") from Pennymac. Under the agreements, Pennymac will handle all servicing and recapture activities for the MSR sold to Annaly.

Annaly is a leader in housing finance with approximately $90 billion in assets invested across its Agency MBS, Residential Credit and MSR strategies. Annaly's MSR portfolio consists of approximately 680,000 loans, totaling $219 billion in unpaid principal balance and $3.3 billion in market value as of June 30, 2025. The company's MSR portfolio is made up of high-quality conventional loans with a weighted average FICO of 757 at origination and average note rate of 3.24%.