$150 Million Share Repurchase Program
Wednesday, August 19 , 2015
PennyMac Mortgage Investment Trust (NYSE: PMT) is a specialty finance company that invests in a variety of residential mortgage loans and mortgage-related assets. The Company's objective is to provide attractive risk-adjusted returns to its shareholders over the long-term, primarily through dividends and secondarily through capital appreciation.
PMT’s targeted investments are in the U.S. residential mortgage market. We are primarily focused on investing in distressed mortgage loans available for acquisition from financial institutions and engaging in correspondent lending.
PMT is managed by PNMAC Capital Management, LLC (“PCM” or our “Manager”), a subsidiary of PennyMac Financial Services, Inc. ("PennyMac") and an investment adviser registered with the Securities and Exchange Commission (“SEC”) that specializes in, and focuses on, residential mortgage assets. All of the loans we acquire in our correspondent lending operations are acquired, pooled for sale, sold and/or securitized on our behalf by another PennyMac subsidiary, PennyMac Loan Services, LLC (“PLS” or our “Servicer”), which also services most of the loans we hold in our investment portfolio and almost all of the loans for which we retain the obligation to service as a result of our correspondent lending operations.
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.
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