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Manager’s Statement Regarding Errors in New York Times Column
|Wells Fargo Securities 2013 Specialty Finance Conference
Webcast | Presentation
PennyMac Mortgage Investment Trust (NYSE: PMT) is a specialty finance company that invests primarily in residential mortgage loans and mortgage-related assets.
The Company’s objective is to provide attractive risk-adjusted returns to its investors over the long-term, primarily through dividends and secondarily through capital appreciation. PennyMac Mortgage Investment Trust intends to achieve this objective by investing in residential mortgage-related opportunities which may include mortgage loans, mortgage servicing rights and mortgage-backed securities. PMT invests in both newly originated prime-quality mortgage loans in addition to mortgage loans which may be distressed and acquired at discounts to their unpaid principal balances.
The Company seeks to maximize the value of the distressed mortgage loans that it acquires through loan modification programs, special servicing and other initiatives focused on keeping borrowers in their homes. We also invest in and retain mortgage servicing rights on the newly originated prime-quality mortgage loans we purchase from other mortgage originators as part of the correspondent lending business...
PMT is an externally managed by PNMAC Capital Management, LLC (PCM) an investment adviser that specializes in, and focuses on, residential mortgage loans and provides management oversight and investment expertise to PMT. We have also entered into loan fulfillment and servicing agreements with PCM’s sister company, PennyMac Loan Services, LLC (PLS). PLS provides fulfillment processing, quality control, technology, hedging, underwriting, funding, packaging, and secondary marketing expertise for the Company’s correspondent lending business. Additionally, PLS provides primary loan servicing and specialty loan servicing for PMT’s portfolio of residential mortgage loans. The loan servicing functions provided by PLS include: collecting principal, interest payments and escrow account management, customer service, online accounts access, loss mitigation, collection activities, loan workouts, modifications, foreclosures, short sales, refinancings and mortgage financing to facilitate sales of real estate owned properties. Our business model and relationship with PLS and PCM combines the expertise, infrastructure and capital required to invest in the many opportunities present in today’s mortgage market.
PennyMac Mortgage Investment Trust has elected to be taxed as a real estate investment trust (REIT) for U.S. federal income tax purposes. The company’s stock trades on the New York Stock Exchange under the ticker symbol PMT.
2012 Annual Report
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Contact InformationPennyMac Mortgage Investment Trust,
6101 Condor Drive
Moorpark, CA 93021
Investor Relations Contact
Director, Investor Relations
Computershare Shareowner Services LLC
480 Washington Boulevard 27th Floor
Jersey City, NJ 07310-1900