PennyMac Mortgage Investment Trust
For the period ended Jun 30, 2025. Filed Jul 30, 2025.
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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.
Jun 30, 2025 · Filed Jul 30, 2025
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Balance Sheet Analysis
Following is a summary of key balance sheet items as of the dates presented:
| June 30, | December 31, | |
|---|---|---|
| 2025 | 2024 | |
| (in thousands) | ||
| Assets | ||
| Cash and short-term investments | $471,486 | $440,892 |
| Mortgage-backed securities at fair value | 3,967,045 | 4,063,706 |
| Loans acquired for sale | 2,616,251 | 2,116,318 |
| Loans held for investment | 4,566,532 | 2,193,575 |
| Derivative assets | 52,964 | 56,840 |
| Deposits securing credit risk transfer arrangements | 1,064,719 | 1,110,708 |
| Mortgage servicing rights and servicing advances | 3,809,586 | 3,972,431 |
| 16,548,583 | 13,954,470 | |
| Other | 252,536 | 454,236 |
| Total assets | $16,801,119 | $14,408,706 |
| Liabilities | ||
| Debt: | ||
| Short-term | $6,835,268 | $6,512,531 |
| Long-term: | ||
| Recourse | 3,541,358 | 3,535,650 |
| Non-recourse | 4,212,681 | 2,074,597 |
| 7,754,039 | 5,610,247 | |
| 14,589,307 | 12,122,778 | |
| Other | 346,167 | 347,428 |
| Total liabilities | 14,935,474 | 12,470,206 |
| Shareholders’ equity | 1,865,645 | 1,938,500 |
| Total liabilities and shareholders’ equity | $16,801,119 | $14,408,706 |
Total assets increased by approximately $2.4 billion, or 17%, from December 31, 2024 to June 30, 2025, primarily due to an increase of $2.4 billion in Loans held for investment at fair valueand $499.9 million in Loans acquired for sale at fair value, offset by a decrease of $162.8 million in mortgage servicing rights and servicing advances.
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