PennyMac Mortgage Investment Trust

For the period ended Mar 31, 2025. Filed Apr 30, 2025.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Mar 31, 2025 · Filed Apr 30, 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 exhibits

Contents

Consolidated Balance Sheets

CONSOLIDATED BALANCE SHEETS (UNAUDITED)

	March 31,	December 31,
	2025	2024
(in thousands, except share information)
ASSETS
Cash	$247,941	$337,694
Short-term investments at fair value	204,158	103,198
Mortgage-backed securities at fair value pledged to creditors	4,035,862	4,063,706
Loans acquired for sale at fair value ($1,963,075 and $2,087,615 pledged to creditors, respectively)	2,002,207	2,116,318
Loans at fair value ($3,227,176 and $2,191,869 pledged to creditors, respectively)	3,228,991	2,193,575
Derivative assets ($28,474 and $29,377 pledged to creditors, respectively)	45,162	56,840
Deposits securing credit risk transfer arrangements pledged to creditors	1,087,949	1,110,708
Mortgage servicing rights at fair value ($3,707,879 and $3,807,065 pledged to creditors, respectively)	3,770,034	3,867,394
Servicing advances ($70,604 and $89,396 pledged to creditors, respectively)	84,733	105,037
Due from PennyMac Financial Services, Inc.	15,155	16,015
Other ($527 pledged to creditors as of December 31, 2024)	154,034	438,221
Total assets	$14,876,226	$14,408,706
LIABILITIES
Assets sold under agreements to repurchase	$6,202,539	$6,500,938
Mortgage loan participation purchase and sale agreements	4,576	11,593
Notes payable secured by credit risk transfer and mortgage servicing assets	2,683,368	2,929,790
Unsecured senior notes	773,122	605,860
Asset-backed financings of variable interest entities at fair value	2,967,631	2,040,375
Interest-only security payable at fair value	35,954	34,222
Derivative and credit risk transfer strip liabilities at fair value	17,941	7,351
Accounts payable and accrued liabilities	105,451	139,124
Due to PennyMac Financial Services, Inc.	29,198	30,206
Income taxes payable	147,773	163,861
Liability for losses under representations and warranties	5,955	6,886
Total liabilities	12,973,508	12,470,206
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, $0.01par value—authorized, 500,000,000 issued and outstanding, 87,010,608 and 86,860,960 shares, respectively	870	869
Additional paid-in capital	1,924,902	1,925,067
Accumulated deficit	(564,536)	(528,918)
Total shareholders’ equity	1,902,718	1,938,500
Total liabilities and shareholders’ equity	$14,876,226	$14,408,706

CONSOLIDATED BALANCE SHEETS (UNAUDITED)

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:

	March 31,	December 31,
	2025	2024
(in thousands)
ASSETS
Loans at fair value	$3,227,176	$2,191,709
Derivative assets	28,474	29,377
Deposits securing credit risk transfer arrangements	1,087,949	1,110,708
Other—interest receivable	11,874	6,382
	$4,355,473	$3,338,176
LIABILITIES
Asset-backed financings of the variable interest entities at fair value	$2,967,631	$2,040,375
Derivative and credit risk transfer strip liabilities at fair value	15,885	4,060
Interest-only security payable at fair value	35,954	34,222
Accounts payable and accrued liabilities—interest payable	11,874	6,382
	$3,031,344	$2,085,039

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.