BUSINESS: PennyMac Mortgage Investment Trust is a specialty finance company that invests in a variety of residential mortgage loans and mortgage-related assets. The Company's objective is to provide attractive risk-adjusted returns to its shareholders over the long-term, primarily through dividends and secondarily through capital appreciation. The Companys targeted investments are in the U.S. residential mortgage market and is focused on investing in distressed mortgage loans available for acquisition from financial institutions and engaging in correspondent lending. PMT is managed by PNMAC Capital Management, LLC, an indirect subsidiary of PennyMac Financial Services, Inc. (NYSE: PFSI). PennyMac Mortgage Investment Trust has elected to be taxed as a real estate investment trust (REIT) for U.S. federal income tax purposes.