Pennymac Mortgage Investment Trust · NYSE:PMT
Pennymac Mortgage Investment Trust — Keefe, Bruyette & Woods Mortgage Finance Conference (June 2012)
10 slides from Pennymac Mortgage Investment Trust's conference presentation, Jun 5, 2012
Slide 1: PennyMac Mortgage Investment Trust June 5, 2012
PennyMac Mortgage Investment Trust June 5, 2012 Keefe, Bruyette & Woods Mortgage Finance Conference
Slide 2: Forward-looking statements
2 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 results, future operations
Slide 3: Year-to-Date 2012 Highlights
3 Year-to-Date 2012 Highlights First Quarter Earnings 1Q12 Diluted EPS of $0.65 per share, and dividend of $0.55 per share 1Q12 net Income of $19.1 million on revenue of $46.6 million Correspondent funding volume increased to $1.8 billion (Conventional fundings of $992 million, 55% of total), up 81%
Slide 4: PMT's Business Segments Pretax Income
4 PMT’s Business Segments Pretax Income Distressed Mortgage Investments pretax income increased 5.6% from the fourth quarter Correspondent Lending up 33% from fourth quarter driven by increased gain on sale of mortgage loans acquired for sale and interest income (Unaudited) Keefe, Bruyette & Woods M
Slide 5: Correspondent Growth Remains Strong
Fundings totaled $1.8 billion in 1Q12, up 81% vs. 4Q11 Conventional volume increased 75% from 4Q11 2Q12 QTD(1) total fundings reach $2.0 billion Locks: $2.9 billion Conventional & Jumbo loans comprised approximately 50% of total fundings Prudently growing relationships with our correspondent sellers
Slide 6: Distressed Mortgage Investments
6 Distressed Mortgage Investments The flow of distressed whole loans for review is expected to remain steady Recent purchases, and agreements to purchase, underscore the opportunity that still exists to invest in distressed mortgages Our investment manager PNMAC Capital Management continues to see s
Slide 7: Strategy and Outlook for PMT
7 Illustrative Leveraged Gross Return(1) 20% - 26% 15% - 20% 27% - 39% (avg. holding period 20 days) 25% - 32% Strategy and Outlook Strategy and Outlook for PMT Continuing to acquire ABS and MBS on an opportunistic basis Correspondent business provides additional insight into MBS opportunities PCM e
Slide 8: Highlights of Investing in PMT
8 Highlights of Investing in PMT Positioned to capitalize on current and long-term opportunities in residential mortgage finance with the capital, institutional relationships, operations, and management across all the critical areas for success Unique mortgage REIT able to capitalize on opportunitie
Slide 9: Contact Us
9 For questions or comments please contact us at: PennyMac Mortgage Investment Trust 6101 Condor Drive Moorpark, CA 93021 IR Contacts: Kevin Chamberlain Managing Director, Corporate Communications Christopher Oltmann Director, Investor Relations chris.oltmann@pnmac.com or InvestorRelations@pnmac.com
Slide 10: PennyMac Mortgage Investment Trust June 5, 2012
PennyMac Mortgage Investment Trust June 5, 2012 Keefe, Bruyette & Woods Mortgage Finance Conference