PMT

PennyMac Mortgage Investment Trust (PMT) operates as a specialty finance company that invests primarily in residential mortgage loans and mortgage-related assets. Headquartered in Westlake Village, California, the company functions as a real estate investment trust (REIT) that was founded in 2009. PMT's investment portfolio consists of three primary segments: Credit Sensitive Strategies, which includes credit risk transfer agreements, subordinated mortgage-backed securities, and distressed loans; Interest Rate Sensitive Strategies, encompassing correspondent production and mortgage servicing rights; and Correspondent Production operations. The company maintains an external management arrangement with PNMAC Capital Management, LLC, an affiliate of PennyMac Financial Services, which provides investment management and other services. PMT primarily acquires its mortgage assets through PennyMac's correspondent lending platform, one of the largest in the United States, which originates loans through relationships with smaller mortgage lenders nationwide. As of recent reporting periods, the company manages an investment portfolio valued in the billions of dollars. PMT focuses on generating attractive risk-adjusted returns through its diversified mortgage investment strategy while maintaining capital efficiency through its REIT structure. The company regularly returns capital to shareholders through quarterly dividends and benefits from its strategic relationship with PennyMac Financial Services' operational infrastructure and market expertise in residential mortgage finance.