Description

PennyMac Mortgage Investment Trust (PMT) is a specialized financial firm primarily engaged in acquiring mortgage-related assets predominantly within the U.S. market. Its Credit Sensitive Strategies division allocates capital to a diverse range of instruments, including credit risk transfer (CRT) agreements and securities, loans under duress, real estate holdings, and junior non-agency bonds. The Interest Rate Sensitive Strategies segment focuses on acquiring mortgage servicing rights, surplus servicing spreads, and both agency and senior non-agency mortgage-backed securities (MBS), alongside engaging in interest rate hedging to manage risk. Through its Correspondent Production segment, the trust buys, aggregates, and then resells newly originated high-quality residential mortgage loans, either outright or packaged as mortgage-backed securities. PNMAC Capital Management, LLC serves as the external manager for PennyMac Mortgage Investment Trust. For federal income tax purposes, the company holds the status of a real estate investment trust (REIT). This structure typically exempts it from federal corporate income taxation, provided it distributes at least ninety percent of its taxable earnings to shareholders. Established in 2009, PennyMac Mortgage Investment Trust's headquarters are located in Westlake Village, California.