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WESTLAKE VILLAGE, California, December 07, 2021– (COMMERCIAL THREAD) – PennyMac Mortgage Investment Trust (NYSE: PMT) today announced that its board of directors has declared a cash dividend of $ 0.47 per common share of beneficial interest for the fourth quarter of 2021. This dividend will be paid on January 31, 2022, to common shareholders of record on December 31, 2021.
About the PennyMac Mortgage Investment Trust
PennyMac Mortgage Investment Trust is a mortgage real estate investment trust (REIT) that invests primarily in residential mortgage loans and mortgage related assets. PMT is managed externally by PNMAC Capital Management, LLC, a wholly owned subsidiary of PennyMac Financial Services, Inc. (NYSE: PFSI). Additional information on PennyMac Mortgage Investment Trust can be found at www.PennyMac-REIT.com.
Forward-looking statements
This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, concerning the beliefs, estimates, projections and assumptions of management concerning, among other things, financial results, future transactions , business plans and investment strategies, as well as industry and market conditions, all of which are subject to change. Words like “believe”, “expect”, “anticipate”, “promise”, “plan” and other expressions or words with similar meanings, as well as future or conditional verbs such as “will”, “should “,” Should, “could” or “could” are generally intended to identify forward-looking statements. Actual results and operations for any future period may differ materially from those projected in this document and from the past results described in this document. Factors that could cause actual results to differ materially from historical or anticipated results include, but are not limited to: our exposure to risks of loss and disruption to operations resulting from adverse weather conditions, disasters of origin human or natural, climate change and pandemics such as COVID-19; the impact on our CRT agreements of the increase in borrower forbearance requests under the CARES law; changes in the investment objectives or investment or operating strategies of the Company, including any new line of business or new products and services which may subject it to additional risks; volatility in the Company’s industry, debt or equity markets, the economy in general or real estate finance and real estate markets in particular, whether or not this is the result of market events; events or circumstances which undermine confidence in the financial and real estate markets or have a significant impact on the financial and real estate markets, such as sudden instability or collapse of large deposit institutions or other important companies, terrorist attacks , natural or man-made disasters, or actual threats or armed conflicts; the elimination of unfavorable refinancing costs from the FHFA market; changes in general affairs, economy, market, employment, and national and international political conditions, or in consumer confidence and spending patterns compared to those expected; declines in real estate or significant changes in US house prices or US housing market activity; the availability and level of competition for attractive risk-adjusted investment opportunities in mortgage loans and mortgage-related assets that meet the Company’s investment objectives; the inherent difficulty in winning offers to acquire mortgages and the Company’s success in doing so; the concentration of credit risks to which the Company is exposed; the degree and nature of the Company’s competition; the Company’s dependence on its manager and service agent, potential conflicts of interest with these entities and their affiliates, and the performance of these entities; personnel changes and lack of availability of qualified personnel in its manager, service agent or their subsidiaries; the availability, conditions and deployment of short- and long-term capital; the adequacy of the Company’s cash reserves and working capital; the Company’s ability to maintain the desired relationship between its funding and the interest rates and maturities of its assets; the timing and amount of cash flows, if any, from the Company’s investments; unforeseen increases or volatility in financing and other costs, including changes in interest rates; our substantial debt; the performance, financial position and liquidity of borrowers; the ability of the Company’s server, which also provides the Company with execution services, approve and monitor corresponding vendors and underwrite investor-standard loans; incomplete or inaccurate information or documents provided by customers or counterparties, or adverse changes in the financial position of the Company’s customers and counterparties; the Company’s indemnification and repurchase obligations in connection with mortgages that it purchases and sells or securitizes subsequently; the quality and applicability of collateral documentation attesting to the ownership and rights of the Company over the assets in which it invests; the increase in default and default rates and / or the decrease in recovery rates on the Company’s investments; the performance of the mortgages underlying the mortgage-backed securities in which the Company retains credit risk; the Company’s ability to seize its investments on time or not at all; increased prepayments of mortgages and other loans underlying the Company’s mortgage-backed securities or related to the Company’s mortgage management rights and other investments; the degree to which the Company’s hedging strategies may or may not protect it from interest rate volatility; the effect of the accuracy or changes in the Company’s estimates of uncertainties, contingencies and valuations of assets and liabilities in evaluating and presenting the financial position and results of operations of the society ; the Company’s ability to maintain appropriate internal control over financial reporting; technologies for lending and the Company’s ability to mitigate security risks and cyber intrusions; the Company’s ability to obtain and / or maintain licenses and other approvals in the jurisdictions required to conduct its business; the Company’s ability to detect misconduct and fraud; the Company’s ability to comply with various federal, state and local laws and regulations that govern its business; developments in secondary markets for the Company’s mortgage products; legislative and regulatory changes that affect the mortgage industry or the housing market; regulatory changes or the occurrence of other events that impact the activities, operations or prospects of government agencies such as the Government National Mortgage Association, Federal Housing Administration or Veterans Affairs, United States Department of Agriculture or government sponsored entities such as the Federal National Mortgage Association or the Federal Home Loan Mortgage Corporation, or such changes which increase the cost of doing business with such entities; the Dodd-Frank Wall Street Reform and Consumer Protection Act and its regulations and regulatory bodies, as well as any other legislative and regulatory changes affecting the business, operations or governance of mortgage lenders and / or companies listed on the stock exchange; the Consumer Financial Protection Bureau and its issued and future rules and their application; changes in government support for home ownership; changes to government or government sponsored housing affordability programs; limitations on the Company’s business and its ability to comply with complex rules in order for it to qualify as a REIT for US federal income tax purposes and to benefit from an exclusion from the Investment Company Act of 1940 and the ability of certain of the Company’s subsidiaries to qualify as REITs or as taxable subsidiaries of REITs for United States federal income tax purposes, as the case may be, and the Company’s ability and ability to its subsidiaries to operate efficiently within the limits imposed by these rules; changes in government regulations, accounting treatment, tax rates and similar matters (including changes in laws governing the taxation of REITs, or exclusions from registration as an investment company); the Company’s ability to make distributions to its shareholders in the future; the Company’s inability to deal appropriately with issues that may give rise to reputational risk; and the organizational structure of the Company and certain requirements in its constituting documents. You should not place undue reliance on forward-looking statements and should take into account all the uncertainties and risks described above, as well as those discussed in more detail in the reports and other documents filed by the Company with the Securities and Exchange Commission from time to time. . The Company assumes no obligation to publicly update or revise any forward-looking statements or any other information contained in this document, and the statements made in this press release are current as of the date of this release only.
See the source version on businesswire.com: https://www.businesswire.com/news/home/20211207006014/en/
Contacts
Media
Kristyn clark
(805) 395-9943
Investors
Kevin chamberlain
Isaac Garden
(818) 224-7028
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