CALABASAS, Calif.--(BUSINESS WIRE)--
PennyMac Mortgage Investment Trust (NYSE: PMT) will announce results for
the quarter ended December 31, 2009 in a news release to be issued after
the close of the New York Stock Exchange on Monday, February 1, 2010.
The release will be available online at www.pennymacmortgageinvestmenttrust.com.
PennyMac executives will review the quarter in a recorded presentation.
The recording and accompanying slide presentation will be available on
the Company's website beginning Tuesday, February 2, 2010 at 5:30 a.m.
PST (8:30 a.m. EST).
Individuals who are unable to access the website but would like to
receive a copy of the slide presentation should contact the Company's
Investor Relations department at 818-224-7028.
PennyMac would also like to announce that the company has completed the
purchase of a portfolio of approximately $40 million (UPB) in troubled
residential mortgage loans and is in the final stages of a transaction
for a portfolio of approximately $100 million (UPB) in troubled
residential mortgage loans. Stanford L. Kurland, PennyMac's Chief
Executive Officer stated, "We are very excited about this opportunity to
deploy capital for PMT. Since September 30, 2009, we have reviewed over
$6 billion in residential whole loan portfolios, ranging in size from $1
million to $1 billion in aggregate unpaid principal balances. We have
seen an increase in the volume of troubled residential mortgage loans
available for sale and are actively evaluating the continuum of
opportunities for acquisitions that will deliver the best value for our
investors." Management will provide a detailed discussion of both
portfolios and its pipeline of residential whole loan portfolios under
review for possible future acquisition during the upcoming presentation.
About PennyMac Mortgage Investment Trust
PennyMac Mortgage Investment Trust is a recently-formed mortgage real
estate investment trust that invests primarily in residential mortgage
loans and mortgage-related assets. The Company trades on the New York
Stock Exchange under the symbol "PMT" and is externally managed by PNMAC
Capital Management, LLC, a wholly owned subsidiary of Private National
Mortgage Acceptance Company, LLC. Additional information about the
Company is available at www.pennymacmortgageinvestmenttrust.com.
Source: PennyMac Mortgage Investment Trust
Contact: PennyMac Mortgage Investment Trust
Aratha M. Johnson, Chief Communications Officer
818-224-7028