Pennymac Mortgage Investment Trust
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A real estate investment trust that puts money into residential mortgage loans and mortgage-related assets, including the rights to service home loans. It was founded in 2009 by Stanford Kurland, a longtime Countrywide Financial executive, who launched the business after the 2008 financial crisis to invest in and service distressed mortgages. The name "PennyMac" comes from the initials of its formal legal name, Private National Mortgage Acceptance Company, and echoes the "Mac" of Freddie Mac.
5.5% Convertible Bond due March 15, 2026
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