Pennymac Mortgage Investment Trust
A real estate investment trust that buys residential mortgage loans and mortgage-related assets across the United States, earning returns for shareholders by investing in the mortgage market rather than lending to consumers directly. Founded in 2009 by Stanford Kurland, a former Countrywide executive, it is managed by an affiliate of PennyMac Financial Services. The name "PennyMac" is short for Private National Mortgage Acceptance Company — it sounds like Fannie Mae and Freddie Mac but is a private firm with no ties to them.
Common Stock