PennyMac Mortgage Investment Trust
For the period ended Dec 31, 2024. Filed Feb 20, 2025.
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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.
See the whole filing, with its images and exhibitsContents
Consolidated Statements of Operations
| Year ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| (in thousands, except earnings per common share) | |||
| Net investment income | |||
| Net loan servicing fees: | |||
| From nonaffiliates | |||
| Contractually specified | $644,642 | $659,438 | $625,210 |
| Other | 14,722 | 17,008 | 26,041 |
| 659,364 | 676,446 | 651,251 | |
| Change in fair value of mortgage servicing rights | (170,409) | (296,847) | 449,435 |
| Mortgage servicing rights hedging results | (226,608) | (92,775) | (204,879) |
| 262,347 | 286,824 | 895,807 | |
| From PennyMac Financial Services, Inc. | 2,193 | 1,784 | 13,744 |
| 264,540 | 288,608 | 909,551 | |
| Net gains on loans acquired for sale: | |||
| From nonaffiliates | 65,055 | 32,695 | 20,724 |
| From PennyMac Financial Services, Inc. | 8,069 | 7,162 | 4,968 |
| 73,124 | 39,857 | 25,692 | |
| Loan origination fees | 15,085 | 18,231 | 52,085 |
| Net gains (losses) on investments and financings | 61,050 | 178,099 | (658,787) |
| Net interest expense: | |||
| Interest income | 635,263 | 639,907 | 383,794 |
| Interest expense | 714,659 | 735,968 | 410,420 |
| Net interest expense | (79,396) | (96,061) | (26,626) |
| Results of real estate acquired in settlement of loans | (437) | (186) | 496 |
| Other | 228 | 472 | 1,360 |
| Net investment income | 334,194 | 429,020 | 303,771 |
| Expenses | |||
| Earned by PennyMac Financial Services, Inc.: | |||
| Loan servicing fees | 83,252 | 81,347 | 81,915 |
| Management fees | 28,623 | 28,762 | 31,065 |
| Loan fulfillment fees | 26,291 | 27,826 | 67,991 |
| Professional services | 12,779 | 7,621 | 9,569 |
| Loan collection and liquidation | 6,834 | 4,562 | 5,396 |
| Compensation | 5,608 | 7,106 | 5,941 |
| Safekeeping | 4,403 | 3,766 | 8,201 |
| Loan origination | 3,328 | 4,602 | 12,036 |
| Other | 20,428 | 19,033 | 18,570 |
| Total expenses | 191,546 | 184,625 | 240,684 |
| Income before (benefit from) provision for income taxes | 142,648 | 244,395 | 63,087 |
| (Benefit from) provision for income taxes | (18,336) | 44,741 | 136,374 |
| Net income (loss) | 160,984 | 199,654 | (73,287) |
| Dividends on preferred shares of beneficial interest | 41,819 | 41,819 | 41,819 |
| Net income (loss) attributable to common shareholders | $119,165 | $157,835 | $(115,106) |
| Earnings (loss) per common share | |||
| Basic | $1.37 | $1.80 | $(1.26) |
| Diluted | $1.37 | $1.63 | $(1.26) |
| Weighted average common shares outstanding | |||
| Basic | 86,815 | 87,372 | 91,434 |
| Diluted | 86,815 | 111,700 | 91,434 |
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