PennyMac Mortgage Investment Trust Declares Fourth Quarter 2016 Dividend
The Board of Trustees of PennyMac Mortgage Investment Trust (NYSE: PMT) declared a cash dividend of $0.47 per common share of
beneficial interest for the fourth quarter of 2016. This dividend will be paid on January 27, 2017 to common shareholders of
record as of December 30, 2016.
About 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. PennyMac Mortgage Investment Trust trades on the New York Stock Exchange under the
symbol “PMT” and is externally managed by PNMAC Capital Management, LLC, an indirect subsidiary of PennyMac Financial Services,
Inc. (NYSE: PFSI). Additional information about PennyMac Mortgage Investment Trust is available 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, regarding management’s beliefs, estimates, projections and assumptions with respect to, among other things, the
Company’s financial results, future operations, 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 of similar meanings, as well as future or conditional verbs such as “will,” “would,” “should,” “could,” or
“may” are generally intended to identify forward-looking statements. Actual results and operations for any future period may vary
materially from those projected herein and from past results discussed herein. Factors which could cause actual results to differ
materially from historical results or those anticipated include, but are not limited to: changes in our investment objectives or
investment or operational strategies, including any new lines of business or new products and services that may subject us to
additional risks; volatility in our industry, the debt or equity markets, the general economy or the real estate finance and real
estate markets specifically, whether the result of market events or otherwise; events or circumstances which undermine confidence
in the financial markets or otherwise have a broad impact on financial markets, such as the sudden instability or collapse of large
depository institutions or other significant corporations, terrorist attacks, natural or man-made disasters, or threatened or
actual armed conflicts; changes in general business, economic, market, employment and political conditions, or in consumer
confidence and spending habits from those expected; declines in real estate or significant changes in U.S. housing prices or
activity in the U.S. housing market; the availability of, and level of competition for, attractive risk-adjusted investment
opportunities in mortgage loans and mortgage-related assets that satisfy our investment objectives; the inherent difficulty in
winning bids to acquire mortgage loans, and our success in doing so; the concentration of credit risks to which we are exposed; the
degree and nature of our competition; our dependence on our manager and servicer, potential conflicts of interest with such
entities and their affiliates, and the performance of such entities; changes in personnel and lack of availability of qualified
personnel at our manager, servicer or their affiliates; the availability, terms and deployment of short-term and long-term capital;
the adequacy of our cash reserves and working capital; our ability to maintain the desired relationship between our financing and
the interest rates and maturities of our assets; the timing and amount of cash flows, if any, from our investments; unanticipated
increases or volatility in financing and other costs, including a rise in interest rates; the performance, financial condition and
liquidity of borrowers; the ability of our servicer, which also provides us with fulfillment services, to approve and monitor
correspondent sellers and underwrite loans to investor standards; incomplete or inaccurate information or documentation provided by
customers or counterparties, or adverse changes in the financial condition of our customers and counterparties; our indemnification
and repurchase obligations in connection with mortgage loans we purchase and later sell or securitize; the quality and
enforceability of the collateral documentation evidencing our ownership and rights in the assets in which we invest; increased
rates of delinquency, default and/or decreased recovery rates on our investments; our ability to foreclose on our investments in a
timely manner or at all; increased prepayments of the mortgages and other loans underlying our mortgage-backed securities or
relating to our mortgage servicing rights , excess servicing spread and other investments; the degree to which our hedging
strategies may or may not protect us from interest rate volatility; the effect of the accuracy of or changes in the estimates we
make about uncertainties, contingencies and asset and liability valuations when measuring and reporting upon our financial
condition and results of operations; our failure to maintain appropriate internal controls over financial reporting; technologies
for loans and our ability to mitigate security risks and cyber intrusions; our ability to obtain and/or maintain licenses and other
approvals in those jurisdictions where required to conduct our business; our ability to detect misconduct and fraud; our ability to
comply with various federal, state and local laws and regulations that govern our business; developments in the secondary markets
for our mortgage loan products; legislative and regulatory changes that impact the mortgage loan industry or housing market;
changes in regulations or the occurrence of other events that impact the business, operations or prospects of government agencies
or government-sponsored entities, or such changes that increase the cost of doing business with such entities; the Dodd-Frank Wall
Street Reform and Consumer Protection Act and its implementing regulations and regulatory agencies, and any other legislative and
regulatory changes that impact the business, operations or governance of mortgage lenders and/or publicly-traded companies; the
Consumer Financial Protection Bureau and its issued and future rules and the enforcement thereof; changes in government support of
homeownership; changes in government or government-sponsored home affordability programs; limitations imposed on our business and
our ability to satisfy complex rules for us to qualify as a real estate investment trust (REIT) for U.S. federal income tax
purposes and qualify for an exclusion from the Investment Company Act of 1940 and the ability of certain of our subsidiaries to
qualify as REITs or as taxable REIT subsidiaries for U.S. federal income tax purposes, as applicable, and our ability and the
ability of our subsidiaries to operate effectively within the limitations imposed by these rules; changes in governmental
regulations, accounting treatment, tax rates and similar matters (including changes to laws governing the taxation of REITs, or the
exclusions from registration as an investment company); the effect of public opinion on our reputation; the occurrence of natural
disasters or other events or circumstances that could impact our operations; and our organizational structure and certain
requirements in our charter documents. You should not place undue reliance on any forward-looking statement and should consider all
of the uncertainties and risks described above, as well as those more fully discussed in reports and other documents filed by the
Company with the Securities and Exchange Commission from time to time. The Company undertakes no obligation to publicly update or
revise any forward-looking statements or any other information contained herein, and the statements made in this press release are
current as of the date of this release only.
PennyMac Mortgage Investment Trust
Media:
Stephen Hagey
805-530-5817
or
Investors:
Christopher Oltmann
818-264-4907
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