PennyMac Mortgage Investment Trust

For the period ended Dec 31, 2024. Filed Feb 20, 2025.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2024 · Filed Feb 20, 2025

PMT$7.85-4.6%Stored close · as of Nov 6, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Consolidated Balance Sheets

	December 31,	December 31,
	2024	2023
(in thousands, except share information)
ASSETS
Cash	$337,694	$281,085
Short-term investments at fair value	103,198	128,338
Mortgage-backed securities at fair value pledged to creditors	4,063,706	4,836,292
Loans acquired for sale at fair value ($2,087,615 and $659,751 pledged to creditors, respectively)	2,116,318	669,018
Loans at fair value ($2,191,869 and $1,431,896 pledged to creditors, respectively)	2,193,575	1,433,820
Derivative assets ($29,377 and $16,160 pledged to creditors, respectively)	56,840	177,984
Deposits securing credit risk transfer arrangements pledged to creditors	1,110,708	1,209,498
Mortgage servicing rights at fair value ($3,807,065 and $3,871,249 pledged to creditors, respectively)	3,867,394	3,919,107
Servicing advances ($89,396 and $181,201 pledged to creditors, respectively)	105,037	206,151
Due from PennyMac Financial Services, Inc.	16,015	56
Other ($527 and $1,905 pledged to creditors, respectively)	438,221	252,538
Total assets	$14,408,706	$13,113,887
LIABILITIES
Assets sold under agreements to repurchase	$6,500,938	$5,624,558
Mortgage loan participation purchase and sale agreements	11,593	—
Notes payable secured by credit risk transfer and mortgage servicing assets	2,929,790	2,910,605
Unsecured senior notes	605,860	600,458
Asset-backed financings of variable interest entities at fair value	2,040,375	1,336,731
Interest-only security payable at fair value	34,222	32,667
Derivative and credit risk transfer strip liabilities at fair value	7,351	51,381
Accounts payable and accrued liabilities	139,124	354,989
Due to PennyMac Financial Services, Inc.	30,206	29,262
Income taxes payable	163,861	190,003
Liability for losses under representations and warranties	6,886	26,143
Total liabilities	12,470,206	11,156,797
SHAREHOLDERS’ EQUITY
Preferred shares of beneficial interest, $0.01 par value per share, authorized 100,000,000 shares, issued and outstanding 22,400,000, liquidation preference $560,000,000	541,482	541,482
Common shares of beneficial interest—authorized, 500,000,000 common shares of $0.01 par value; issued and outstanding, 86,860,960 and 86,624,044 common shares, respectively	869	866
Additional paid-in capital	1,925,067	1,923,437
Accumulated deficit	(528,918)	(508,695)
Total shareholders’ equity	1,938,500	1,957,090
Total liabilities and shareholders’ equity	$14,408,706	$13,113,887

Assets and liabilities of consolidated variable interest entities (“VIEs”) included in total assets and liabilities (the assets of each VIE can only be used to settle liabilities of that VIE) are summarized below:

	December 31,	December 31,
	2024	2023
(in thousands)
ASSETS
Loans at fair value	$2,191,709	$1,431,689
Derivative assets	29,377	16,160
Deposits securing credit risk transfer arrangements	1,110,708	1,209,498
Other—interest receivable	6,382	4,106
	$3,338,176	$2,661,453
LIABILITIES
Asset-backed financings of the variable interest entities at fair value	$2,040,375	$1,336,731
Derivative and credit risk transfer strip liabilities at fair value	4,060	46,692
Interest-only security payable at fair value	34,222	32,667
Accounts payable and accrued liabilities—interest payable	6,382	4,106
	$2,085,039	$1,420,196

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.