Pennymac Mortgage Investment Trust · NYSE:PMT
Pennymac Mortgage Investment Trust — Barclays Global Financial Services Conference 2017
10 slides from Pennymac Mortgage Investment Trust's conference presentation, Sep 11, 2017
Slide 1: PennyMac Mortgage Investment Trust
PennyMac Mortgage Investment Trust September 11, 2017 Barclays Global Financial Services Conference Exhibit 99.1
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation 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 r
Slide 3: Investment Highlights
Investment Highlights 2017 Barclays Global Financial Services Conference Access to operational expertise of manager and services provider PennyMac Financial Services, Inc. (NYSE:PFSI) Capital deployment focused on investments resulting from PMT’s correspondent production activities Unique mortgage-r
Slide 4: Macroeconomic backdrop remains favorable for the mortgage and housing markets
(1) Freddie Mac Primary Mortgage Market Survey. 3.78% as of 9/7/2017 (2) Mortgage Bankers Association Refinance Index (3) National Association of Real Estate Agents, Census Bureau (4) Origination estimates represent the average of forecasts from Fannie Mae (as of 8/10/2017), Freddie Mac (as of 8/9/2
Slide 5: Transitioning to Correspondent-Generated Investments in CRT and MSRs
Transitioning to Correspondent-Generated Investments in CRT and MSRs PMT’s Equity Allocation(1) (1) Management’s internal allocation of equity. Amounts as of quarter end. Percentages may not sum exactly due to rounding. 2017 Barclays Global Financial Services Conference
Slide 6: Distressed Loan Portfolio Is Declining Through Liquidation and Sales
Driven by bulk sale of $160 million in UPB Driven by bulk sale of $89 million in UPB Distressed Loan Portfolio Is Declining Through Liquidation and Sales $803 million ending balance of performing loans includes $149 million in UPB of loans sold in August 2017 Assessing opportunities to access the ma
Slide 7: Attractive Investments Created Through Correspondent Production Activities
GSE Risk Transfer Investments Ongoing MSR Investment Correspondent Production Earnings Attractive Investments Created Through Correspondent Production Activities Investment in a portion of the credit risk on loans delivered by PMT to Fannie Mae Takes advantage of PMT’s high-quality correspondent pro
Slide 8: PMT's Unique Investments in GSE Credit Risk Transfer
CRT Investments Outstanding ($ in millions) PMT's Unique Investments in GSE Credit Risk Transfer (1) Represents equity allocation net of financing (2) Net of credit losses on these loans (3) Valuation-related changes include fair value recognition upon loan delivery under CRT Agreements and fair val
Slide 9: MSR Investments Continue to Grow
MSR Investments Continue to Grow Organic MSR investments resulting from correspondent production activity increased to $735 million at June 30, 2017, up over 50% in the past year Owning MSRs from PMT’s production provides a strong alignment with its CRT investments Effective servicing and loss mitig
Slide 10: Run-Rate Quarterly Income Potential from PMT's Strategies
Note: This slide presents estimates for illustrative purposes only, using PMT’s base case assumptions (e.g., for credit performance, prepayment speeds, financing economics). Actual results may differ materially. Please refer to slide 2 for important disclosures regarding forward-looking statements.
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