REIT that invests primarily in residential mortgage loans and mortgage-related assets.
PennyMac Mortgage Investment Trust operates as a specialty finance company focusing on investments in mortgage-related assets across the United States. The company divides its operations into three primary segments to maximize its investment strategies and portfolio diversity. The Credit Sensitive Strategies segment primarily invests in credit risk transfer agreements, CRT securities, distressed loans, real estate assets, and non-agency subordinated bonds, aiming to capitalize on opportunities in risk-sensitive markets.
In parallel, the Interest Rate Sensitive Strategies segment of PennyMac Mortgage Investment Trust focuses on investments in mortgage servicing rights, excess servicing spreads, agency MBS, and senior non-agency MBS. This segment also engages in related interest rate hedging activities, strategically managing exposure to interest rate fluctuations to optimize returns and mitigate risks.
Additionally, the Correspondent Production segment plays a pivotal role in the company's operations by purchasing, pooling, and reselling newly originated prime credit residential loans directly or in the form of MBS. This segment enables PennyMac Mortgage Investment Trust to participate in the primary mortgage market, enhancing its asset base and contributing to overall portfolio growth.
PNMAC Capital Management, LLC serves as the manager of PennyMac Mortgage Investment Trust, overseeing its strategic direction and operational activities. As a real estate investment trust (REIT), PennyMac Mortgage Investment Trust benefits from favorable tax treatment, provided it distributes at least 90% of its taxable income to its shareholders annually. Founded in 2009 and headquartered in Westlake Village, California, the company continues to leverage its specialized expertise and robust investment framework to deliver value to its investors in the dynamic mortgage and real estate markets.