<span item_type="fundamental" item_id="aa111f50eaa8727450b19bd40a38a3c4" counter_id="ST/US/PMTV" env="prod"></span><span item_type="announcement" item_id="610344673130381442" env="prod"></span><p>Revenue: As of FY2025 Q4, the actual value is USD 93.56 M.</p><p>EPS: As of FY2025 Q4, the actual value is USD 0.48.</p><p>EBIT: As of FY2025 Q4, the actual value is USD 42.58 M.</p><p></p><h4>Overall 4Q25 Results</h4><ul><li>Net income attributable to common shareholders was $42 million, which included a tax benefit of $16 million.</li><li>The annualized return on average common equity was 13%.</li><li>Book value per share was $15.25.</li><li>Dividend per common share was $0.40.</li></ul><h4>Credit Sensitive Strategies (4Q25)</h4><ul><li>Pretax income was $24 million.</li><li>Pretax income excluding market-driven value changes was $11 million, after excluding $13 million of market-driven value gains.</li><li>Net new investments in organically-created CRT securitizations were $184 million.</li><li>The fair value of investments was $1.0 billion.</li><li>PennyMac Mortgage Investment Trust (PMT) GSE credit risk transfer investments contributed $12.0 million in total income, with $8.4 million excluding market-driven value changes, and an annualized return on equity (ROE) of 19%.</li><li>PMT Non-Agency Subordinate MBS contributed $11.4 million in total income, with $2.5 million excluding market-driven value changes, and an annualized ROE of 47%.</li><li>Net credit sensitive strategies generated $23.5 million in total income, with $11.0 million excluding market-driven value changes, and an annualized ROE of 27%.</li><li>The fair value of organically-created GSE CRT investments was down from September 30, 2025, due to runoff.</li><li>The 60+ day delinquency rate for GSE CRT was unchanged from September 30, 2025.</li><li>Cumulative lifetime principal losses for GSE CRT increased slightly to $52.5 million as of December 31, 2025.</li></ul><h4>Interest Rate Sensitive Strategies (4Q25)</h4><ul><li>Pretax income was $28 million.</li><li>Pretax income excluding market-driven value changes was $21 million, after excluding $7 million of market-driven value gains.</li><li>New investments in MSR were $53 million.</li><li>The fair value of MSR investments was $3.6 billion.</li><li>MSRs (including recapture) contributed $32.3 million in total income, with $6.1 million excluding market-driven value changes.</li><li>Agency MBS (and Agency structured products) contributed $47.6 million in total income, with $10.2 million excluding market-driven value changes.</li><li>Net interest rate sensitive strategies generated $28.5 million in total income, with $21.3 million excluding market-driven value changes, and an annualized ROE of 10%.</li><li>MSR assets were $3.6 billion as of December 31, 2025, a slight decrease from September 30, 2025, due to runoff from prepayments partially offset by gains from fair value input changes and new investments.</li><li>The weighted average coupon for MSRs was 3.9%, and the weighted average servicing fee was 0.28%.</li><li>The weighted average prepayment speed assumption (CPR) for MSRs was 8.4%.</li><li>Overall mortgage delinquency rates for MSRs increased slightly from the prior quarter.</li><li>Servicing advances outstanding for the MSR portfolio increased to approximately $97 million at December 31, 2025, from $62 million at September 30, 2025, primarily due to seasonal property tax payments.</li></ul><h4>Correspondent Production (4Q25)</h4><ul><li>Pretax loss was - $1 million.</li><li>UPB of loans acquired from PFSI was $3.7 billion.</li><li>Correspondent production generated a total income of - $1.0 million and an annualized ROE of -2%.</li><li>Segment pretax income as a percentage of interest rate lock commitments was -0.02% in 4Q25, down from 0.21% in 3Q25.</li><li>Fulfillment fee as a percentage of acquisitions funded remained at 0.18% in 4Q25.</li><li>In 4Q25, PennyMac Mortgage Investment Trust purchased 17% of total conventional conforming correspondent loan volume and 100% of non-Agency eligible correspondent loan volume.</li><li>Total Correspondent Acquisitions in 4Q25 were $3,682 million, up from $3,343 million in 3Q25.</li><li>Total Correspondent Locks in 4Q25 were $4,088 million, down from $4,399 million in 3Q25.</li><li>PFSI loans acquired by PennyMac Mortgage Investment Trust increased to $1,810 million in 4Q25 from $1,296 million in 3Q25.</li></ul><h4>Other Financials and Metrics</h4><ul><li>Approximately 60% of PennyMac Mortgage Investment Trust’s shareholders’ equity is deployed to seasoned investments, with MSRs accounting for 46% and PMT GSE Credit Risk Transfer for 13% of shareholders’ equity.</li><li>Total Retained Securitizations UPB Completed in 4Q25 was $2.8 billion, with investments totaling $184 million.</li><li>After the quarter end, an additional $1.1 billion in UPB of retained securitizations were completed, with investments of $69 million.</li><li>Total debt-to-equity ratio was 10.1:1, while the debt-to-equity ratio excluding non-recourse debt was 6.0:1 as of December 31, 2025.</li><li>The majority (81%) of CRT financing is in term notes, which do not contain margin call provisions.</li><li>$150 million was raised through opportunistic reopenings of exchangeable senior notes.</li><li>$345 million of exchangeable senior notes due 2026 are expected to be retired near maturity using existing financing lines.</li></ul><h4>Outlook / Guidance</h4><p>PennyMac Mortgage Investment Trust expects to complete approximately 30 securitizations in 2026, targeting returns on equity for retained investments in the low-to-mid teens. Projected ROEs for Organic Investments from PMT Private Label Securitizations are 13-15%, for Opportunistic Investments are 15%+, and for MSR Investments are 9-13%. The average diluted EPS per quarter is projected to be $0.40.</p>

PennyMac Mortgage Investment Trust | 8-K: FY2025 Q4 Revenue: USD 93.56 M