PennyMac Mortgage Investment Trust

PennyMac Mortgage Investment Trust is a mortgage real estate investment trust incorporated in Maryland and headquartered in Westlake Village, California. The company invests primarily in residential mortgage-related assets across the United States, including mortgage-backed securities, mortgage servicing rights, and credit risk transfer agreements. Through its subsidiary operations, the company manages a diversified portfolio focused on both credit and interest rate sensitive mortgage investments.

The company operates through three main business segments. The Credit Sensitive Strategies segment purchases credit risk transfer agreements and subordinate and credit-linked mortgage-backed securities. The Interest Rate Sensitive Strategies segment invests in mortgage servicing rights, agency and senior non-agency mortgage-backed securities, and collateralized mortgage obligations, while managing associated interest rate hedging activities. The Correspondent Production segment acquires, pools, and resells newly originated prime credit quality loans either directly or as mortgage-backed securities, primarily to government-sponsored enterprises.

As a REIT, PennyMac is not subject to U.S. federal income tax on taxable income distributed to shareholders. The company's market capitalization stands at approximately $1.5 billion, with operations focused on the U.S. residential mortgage market. The company was established in 2009.