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Mortgage Investment Trust is a real estate investment trust. The
Company operates as a specialty finance company that will invest
primarily in residential mortgage loans and mortgage-related assets.
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 and foreign banks. The Company’s
objective is to provide risk-adjusted returns to its investors over the
long-term, primarily through dividends and secondarily through capital
appreciation. The Company focuses on investing in mortgage loans, a
substantial portion of which may be distressed and acquired at
discounts to their unpaid principal balances. PennyMac is managed by
investment adviser PNMAC Capital Management and offers primary and
special loan servicing through PennyMac Loan Services.
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