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Mar 31, 2020
PennyMac Q1 2020 Earnings Report
Reported a net loss due to non-cash fair value losses on CRT investments, which were partially offset by gains in interest rate sensitive strategies and correspondent production.
Key Takeaways
PennyMac Mortgage Investment Trust reported a net loss attributable to common shareholders of $600.9 million, or $5.99 per common share, for the first quarter of 2020, driven by non-cash fair value losses on government-sponsored enterprise (GSE) credit risk transfer (CRT) investments related to the COVID-19 crisis, but partially offset by gains on interest rate hedge instruments and record correspondent production results.
Net loss attributable to common shareholders was $600.9 million.
The loss was driven by non-cash fair value losses on GSE credit risk transfer (CRT) investments related to the COVID-19 crisis.
The loss was partially offset by gains on interest rate hedge instruments and record correspondent production results.
Conventional correspondent loan production totaled $18.0 billion in unpaid principal balance (UPB).
Revenue by Segment
Forward Guidance
PMT expects improved financial performance and is confident in the return potential of its investment strategies.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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