PennyMac Mortgage Investment Trust
For the period ended Sep 30, 2026. Filed Nov 3, 2026.
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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.
Sep 30, 2026 · Filed Nov 3, 2026
PMT$7.87-1.6%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)
| Nine months ended September 30, | ||
|---|---|---|
| 2026 | 2025 | |
| (in thousands) | ||
| Cash flows from operating activities | ||
| Net income | $30,163 | $75,510 |
| Adjustments to reconcile net income to net cash used in operating activities: | ||
| Change in fair value of mortgage servicing rights | 17,360 | 336,097 |
| Mortgage servicing rights hedging results | 75,532 | 127,941 |
| Net losses (gains) on investments and financings | 163,027 | (160,080) |
| Net gains on loans held for sale | (43,398) | (45,007) |
| Amortization of purchase premiums and accrual of unearned discounts on mortgage-backed securities, loans held for investment, and asset-backed financings, net | 63,017 | (27,036) |
| Amortization of debt issuance costs | 13,053 | 15,322 |
| Results of real estate acquired in settlement of loans | 161 | 169 |
| Share-based compensation expense | 3,395 | 2,613 |
| Purchase of loans held for sale from nonaffiliates | (1,256,682) | (59,033,943) |
| Purchase of loans held for sale from PennyMac Financial Services, Inc. | (12,702,942) | (5,673,014) |
| Sale to nonaffiliates and repayment of loans held for sale | 5,604,457 | 7,480,047 |
| Sale of loans held for sale to PennyMac Financial Services, Inc. | — | 52,856,500 |
| Repurchase of loans subject to representations and warranties | (10,899) | (21,113) |
| Decrease in servicing advances | 34,421 | 43,309 |
| Decrease (increase) in due from PennyMac Financial Services, Inc. | 4,531 | (2,156) |
| (Increase) decrease in other assets | (178,066) | 131,263 |
| Decrease in accounts payable and accrued liabilities | (28,359) | (3,838) |
| Increase in due to PennyMac Financial Services, Inc. | 3,173 | 9,959 |
| Decrease in income taxes payable | (3,127) | (20,029) |
| Net cash used in operating activities | (8,211,183) | (3,907,486) |
| Cash flows from investing activities | ||
| Net decrease (increase) in short-term investments | 41,888 | (77,845) |
| Purchase of mortgage-backed securities | (1,038,581) | (942,462) |
| Sale and repayment of mortgage-backed securities | 987,888 | 552,184 |
| Repayment of loans held for investment | 1,547,543 | 299,531 |
| Net settlement of derivative financial instruments | (8,364) | 5,110 |
| Distribution from credit risk transfer arrangements | 153,665 | 115,232 |
| Sale (transfer to Agency) of mortgage servicing rights | 201,770 | (675) |
| Sale of real estate acquired in settlement of loans | 117 | 686 |
| Decrease (increase) in margin deposits | 129,043 | (74,811) |
| Net cash provided by (used in) investing activities | 2,014,969 | (123,050) |
Statements continued on the next page
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)
(Continued)
| Nine months ended September 30, | ||
|---|---|---|
| 2026 | 2025 | |
| (in thousands) | ||
| Cash flows from financing activities | ||
| Sale of assets under agreements to repurchase | 44,697,649 | 88,710,128 |
| Repurchase of assets sold under agreements to repurchase | (44,337,013) | (87,506,607) |
| Issuance of mortgage loan participation purchase and sale agreements | — | 665,124 |
| Repayment of mortgage loan participation purchase and sale agreements | — | (676,775) |
| Issuance of notes payable secured by credit risk transfer and mortgage servicing assets | 531,693 | 150,000 |
| Repayment of notes payable secured by credit risk transfer and mortgage servicing assets | (285,242) | (835,552) |
| Issuance of unsecured senior notes | — | 277,500 |
| Repayment of unsecured senior notes | (345,000) | — |
| Issuance of asset-backed financings of variable interest entities | 7,483,903 | 3,617,501 |
| Repayment of asset-backed financings of variable interest entities | (1,514,493) | (293,955) |
| Payment of debt issuance costs | (8,658) | (14,019) |
| Payment of dividends to preferred shareholders | (31,364) | (31,364) |
| Payment of dividends to common shareholders | (104,630) | (104,524) |
| Payment of vested share-based compensation tax withholdings | (1,142) | (1,127) |
| Net cash provided by financing activities | 6,085,703 | 3,956,330 |
| Net decrease in cash | (110,511) | (74,206) |
| Cash at beginning of period | 271,970 | 337,694 |
| Cash at end of period | $161,459 | $263,488 |
| Supplemental cash flow information | ||
| Payments, net: | ||
| Income taxes | $238 | $2,223 |
| Interest | $958,779 | $615,598 |
| Non-cash investing activities: | ||
| Reclassification of loans held for sale to loans held for investment resulting from securitization activities | $8,091,067 | $4,013,749 |
| Receipt of mortgage servicing rights as proceeds from sales of loans | $88,188 | $136,783 |
| Non-cash financing activities: | ||
| Dividends declared, not paid | $35,514 | $35,137 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.