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15 reviews

About PennyMac

PennyMac Mortgage Investment Trust trusts in its ability to acquire distressed US residential mortgage loans. The company seeks to acquire primarily troubled home mortgage loans and mortgage-backed securities from FDIC liquidations of failed banks, US Treasury Legacy Loans Program auctions, and direct acquisitions from mortgage and insurance companies – more... and foreign banks. PennyMac is managed by investment adviser PNMAC Capital Management and offers primary and special loan servicing through PennyMac Loan Services. It may use some of the proceeds from its IPO to make investments in high-grade, short-term securities guaranteed by the likes of Ginnie Mae, Freddie Mac, and Fannie Mae.

PennyMac also may use part of the proceeds to help it qualify as a REIT beginning at the end of 2009.

The company's investment strategy rests on a trend under the current economic downturn that the size of non-performing and sub-performing residential mortgage loan markets has grown and will likely continue to grow. Its focus will be to restructure those types of loans, as well as performing loans, for the secondary market.

The company is held by Private National Mortgage Acceptance Company (PNMAC), which is controlled by members of PennyMac's senior management team, asset manager BlackRock, and private investment firm Highfields Capital. – less

PennyMac Employer Reviews

Manager, Mortgage Operations (Current Employee), Moorpark, CAJanuary 29, 2015
Supervisor - Insuring and Guarantee (Current Employee), Pasadena, CADecember 22, 2014
Underwriter (Former Employee), Fort Worth, TXDecember 3, 2014
BUSINESS ANALYST IV (Former Employee), Moorpark, CANovember 18, 2014
SOX Internal Auditor, Capital Markets (Former Employee), Moorpark, CASeptember 28, 2014

PennyMac Salaries