PennyMac Mortgage Investment Trust

For the period ended Dec 31, 2025. Filed Feb 18, 2026.

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.

FY2025 · Filed Feb 18, 2026

PMT$8.00+1.9%Stored close · as of Nov 9, 2026

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

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Contents

Consolidated Balance Sheets

	December 31,	December 31,
	2025	2024
(in thousands, except share information)
ASSETS
Cash	$271,970	$337,694
Short-term investments at fair value	190,518	103,198
Mortgage-backed securities at fair value pledged to creditors	4,452,859	4,063,706
Loans held for sale at fair value ($2,676,700 and $2,087,615 pledged to creditors, respectively)	2,699,398	2,116,318
Loans held for investment at fair value ($8,530,939 and $2,191,869 pledged to creditors, respectively)	8,532,644	2,193,575
Derivative assets with nonaffiliates ($32,659 and $29,377 pledged to creditors, respectively)	49,696	56,840
Derivative assets with PennyMac Financial Services, Inc.	6,247	—
Deposits securing credit risk transfer arrangements pledged to creditors	1,009,334	1,110,708
Mortgage servicing rights at fair value ($3,582,211 and $3,807,065 pledged to creditors, respectively)	3,644,702	3,867,394
Servicing advances ($78,430 and $89,396 pledged to creditors, respectively)	96,830	105,037
Due from PennyMac Financial Services, Inc.	19,100	16,015
Other ($527 pledged to creditors as of December 31, 2024)	373,584	438,221
Total assets	$21,346,882	$14,408,706
LIABILITIES
Assets sold under agreements to repurchase	$8,018,601	$6,500,938
Mortgage loan participation purchase and sale agreements	—	11,593
Notes payable secured by credit risk transfer and mortgage servicing assets	2,258,128	2,929,790
Unsecured senior notes	1,028,300	605,860
Interest-only security payable at fair value	37,650	34,222
Asset-backed financings of variable interest entities at fair value	7,789,303	2,040,375
Derivative and credit risk transfer strip liabilities with nonaffiliates at fair value	6,932	7,351
Derivative liabilities with PennyMac Financial Services, Inc.	2,257	—
Accounts payable and accrued liabilities	168,498	139,124
Due to PennyMac Financial Services, Inc.	17,122	30,206
Income taxes payable	127,476	163,861
Liability for losses under representations and warranties	5,284	6,886
Total liabilities	19,459,551	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, $0.01 par value—authorized, 500,000,000 issued and outstanding, 87,016,604 and 86,860,960 shares, respectively	870	869
Additional paid-in capital	1,927,804	1,925,067
Accumulated deficit	(582,825)	(528,918)
Total shareholders’ equity	1,887,331	1,938,500
Total liabilities and shareholders’ equity	$21,346,882	$14,408,706

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,
	2025	2024
(in thousands)
ASSETS
Loans held for investment at fair value	$8,530,939	$2,191,709
Derivative assets	32,659	29,377
Deposits securing credit risk transfer arrangements	1,009,334	1,110,708
Other—interest receivable	35,675	6,382
	$9,608,607	$3,338,176
LIABILITIES
Asset-backed financings of the variable interest entities at fair value	$7,789,303	$2,040,375
Interest-only security payable at fair value	37,650	34,222
Derivative and credit risk transfer strip liabilities at fair value	5,999	4,060
Accounts payable and accrued liabilities—interest payable	35,675	6,382
	$7,868,627	$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.