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Dec 31, 2019
PennyMac Q4 2019 Earnings Report
PennyMac reported net income for Q4 2019, driven by credit risk transfer investments and correspondent production.
Key Takeaways
PennyMac Mortgage Investment Trust reported a net income of $52.4 million for the fourth quarter of 2019. The company's performance was driven by strong results from government-sponsored enterprise (GSE) credit risk transfer (CRT) investments, increased income contribution from the Correspondent Production segment, and improved performance from Interest Rate Sensitive Strategies.
Net income attributable to common shareholders was $52.4 million.
Annualized return on average common equity was 10 percent.
Book value per common share was $21.37 at December 31, 2019.
Record correspondent production volumes drove organic investment growth in CRT and MSR investments.
Revenue by Segment
Forward Guidance
PennyMac is focused on continuing capital deployment into CRT and MSR investments that are believed to be accretive to PMT’s overall investment returns.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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