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PennyMac Financial Services, Inc. reports developments in U.S. residential mortgage production, loan servicing and mortgage-market investment management. Company updates commonly cover production segment results, correspondent acquisitions of government-insured and conventional conforming loans, consumer direct and broker direct channels, and third-party origination offerings such as Non-QM products.
News also covers servicing and subservicing activity, mortgage servicing rights, early buyout transactions, dividends and earnings releases. PennyMac’s relationship with PennyMac Mortgage Investment Trust appears in company updates through fulfillment services, investment-management activities and the external management role of PNMAC Capital Management, a wholly owned PFSI subsidiary.
PennyMac Financial Services, Inc. (NYSE: PFSI) will announce its Q2 2022 results on August 2, 2022, after market close. A recorded presentation reviewing these results will be available on their website along with slide presentations. As of March 31, 2022, PennyMac originated $201 billion in loans, ranking as the third-largest mortgage lender in the U.S. It also serviced loans totaling $519 billion, placing it among the top ten mortgage servicers nationally. More information can be found on their investor relations site.
PennyMac Mortgage Investment Trust (PMT) has declared a cash dividend of $0.47 per common share for Q2 2022, payable on July 28, 2022, to shareholders on record as of July 14, 2022. This payout reflects the company's commitment to returning value to its investors while investing primarily in residential mortgage loans and mortgage-related assets. PMT is externally managed by PNMAC Capital Management, a subsidiary of PennyMac Financial Services (PFSI).
PennyMac Mortgage Investment Trust (PMT) has declared cash dividends for Q2 2022 on its preferred shares. The 8.125% Series A shares (PMT PrA) will pay $0.507813 per share, the 8.000% Series B shares (PMT PrB) will pay $0.500000, and the 6.750% Series C shares (PMT PrC) will pay $0.421875. All dividends have a record date of June 1, 2022, and a payment date of June 15, 2022. This announcement reflects the company's ongoing commitment to providing income to its shareholders.
PennyMac Mortgage Investment Trust (NYSE: PMT) reported a net loss of $29.6 million, or $(0.32) per share, for Q1 2022 on net investment income of $81.8 million. This represents a slight increase in losses compared to $27.3 million in the prior quarter. The company declared a cash dividend of $0.47 per share. Fair value declines from credit-sensitive strategies impacted results, despite strong performance in interest rate-sensitive strategies. Book value per share decreased to $17.87 from $19.05. PMT repurchased 2.99 million shares for $47.2 million during the quarter.
PennyMac Financial Services reported a net income of $173.6 million or $2.94 per diluted share for Q1 2022, with revenues of $657.5 million. Book value rose to $62.19. The Board declared a $0.20 per share dividend. However, pretax income saw a 54% dip from Q1 2021, attributed to decreased production and lower mortgage market volumes. The servicing segment performed strongly with pretax income of $225.2 million, marking a significant increase from the previous quarter. The company aims to align expenses with reduced activity levels due to rising mortgage rates.
PennyMac Mortgage Investment Trust (NYSE: PMT) will announce its financial results for the quarter ending March 31, 2022, via a news release after the market closes on May 5, 2022. The announcement will be accessible online, and a recorded presentation by the executives will accompany the results. For those unable to access the website, copies of the presentation can be requested through investor relations.
PennyMac specializes in residential mortgage loans and related assets, managed by PNMAC Capital Management, a subsidiary of PennyMac Financial Services, Inc. (NYSE: PFSI).
PennyMac Financial Services, Inc. (NYSE: PFSI) will release its quarterly results on May 5, 2022, after market close. The details will be available on their website, alongside a recorded presentation by executives. As of December 31, 2021, PennyMac originated $234 billion in loans, ranking as the second largest mortgage lender in the U.S. Additionally, they serviced loans totaling $510 billion, making them one of the top ten mortgage servicers in the country. For further information, interested parties can contact Investor Relations.
PennyMac Mortgage Investment Trust (NYSE: PMT) will hold its 2022 Annual Meeting of Shareholders virtually on June 1, 2022, at 11:00 a.m. Pacific Time. Shareholders of record as of April 5, 2022, can attend and vote at the meeting. Participants can join via www.virtualshareholdermeeting.com/PMT2022 using their control number. Shareholders are encouraged to vote in advance, with additional information available in the proxy materials.
PennyMac Financial Services, Inc. announced that its 2022 Annual Meeting of Stockholders will be held virtually on May 24, 2022, at 11:00 a.m. Pacific Time. Stockholders of record by March 29, 2022 can attend and vote. Participation details are provided through a webcast link where stockholders can also submit questions beforehand. PennyMac is recognized as a leader in the U.S. residential mortgage industry, with $234 billion in newly originated loans in 2021, making it the second-largest mortgage lender.
PennyMac Mortgage Investment Trust (NYSE: PMT) has appointed Catherine A. Lynch, former CEO of the National Railroad Retirement Investment Trust, to its Board of Trustees. David A. Spector, Chairman and CEO, expressed enthusiasm for her extensive experience in investment strategies, which is expected to provide valuable insights to PMT. Lynch's notable contributions include developing investment procedures and strategies for various organizations. PennyMac primarily invests in residential mortgage loans and mortgage-related assets, and is externally managed by PNMAC Capital Management, a subsidiary of PennyMac Financial Services (NYSE: PFSI).