Pennymac Mortgage Investment Trust · NYSE:PMT
Pennymac Mortgage Investment Trust — Barclays Global Financial Services Conference 2016
11 slides from Pennymac Mortgage Investment Trust's conference presentation, Sep 13, 2016
Slide 1: PennyMac Mortgage Investment Trust, Barclays Global Financial Services Conference
PennyMac Mortgage Investment Trust September 14, 2016 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: PMT's Model Is Well-Positioned for Today's Mortgage Investment Opportunities
PMT's Model Is Well-Positioned for Today's Mortgage Investment Opportunities 2016 Barclays Global Financial Services Conference Investment Highlights A real estate investment trust (REIT) with access to unique mortgage-related investment strategies enabled by the operational capabilities of our mana
Slide 4: 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 credit risk on loans delivered by PMT to Fannie Mae Designed to capture benefits of PMT’s high-quality correspondent product
Slide 5: PMT's Credit Risk Transfer is a Unique Investment Opportunity
PMT’s Credit Risk Transfer is a Unique Investment Opportunity 2016 Barclays Global Financial Services Conference $9.6 billion in UPB delivered under this structure through June 30, 2016 SPV PMT Conventional Conforming Production Retained IO Strip Fannie Mae Cash Collateral Account (CCA) Class M1 Bon
Slide 6: Transitioning to Correspondent-Related Investments Such as CRT and MSRs
Transitioning to Correspondent-Related Investments Such as CRT and MSRs 2Q 2014 100% = $1.6 billion Current capital deployment is primarily focused on attractive correspondent-related investments – CRT and MSRs 2Q 2016 100% = $1.4 billion PMT’s Equity Allocation(1) (1) Management’s internal allocati
Slide 7: Distressed Loan Portfolio Is Declining Through Liquidation and Sales
Distressed Loan Portfolio Is Declining Through Liquidation and Sales Bulk sale of performing loans completed -38% Y/Y -14% Y/Y 2016 Barclays Global Financial Services Conference
Slide 8: PMT EPS, Dividends and Book Value Over Time
Book value per share(1) PMT EPS, Dividends and Book Value Over Time 19% 14% 7% 7% Return on Equity(2) (1) At period end. (2) Return on average equity during the respective quarter; return on average equity is calculated based on annualized quarterly net income as a percentage of monthly average shar
Slide 9: Run-Rate Quarterly Income Potential from PMT's Strategies
Note: This slide presents examples 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. M
Slide 10: Update on Partnership Between PMT and PFSI
Update on Partnership Between PMT and PFSI PMT and PFSI recently renewed the agreements that govern the arrangements between the two companies This renewal extends the term of the agreements for another four years, through September 2020 Modest changes from the prior agreements, including: Mortgage
Slide 11: Share Repurchase Program
Share Repurchase Program Repurchased 7.5 million shares since inception of the program last year through July 5th $100 million in additional repurchases remain authorized under the $200 million program We continue to evaluate repurchases using available capital versus the return on alternative inves
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