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.