PennyMac Mortgage reports Q3 EPS 36c, consensus 36c

Book value per common share decreased slightly to $15.85 at September 30, 2024, from $15.89 at June 30, 2024. “PMT‘s third quarter financial results reflect solid levels of income excluding market driven value changes bolstered by fair value changes including associated tax benefits,” said Chairman and CEO David Spector. “We increased the amount of conventional mortgage production retained this quarter, which drove strong results in the segment as well as the creation of nearly $90 million in new mortgage servicing rights investments. We also continue to focus on our balance sheet, replacing previously-issued MSR term notes with new term notes at a lower spread; to that end we also issued new, 4-year CRT term notes to refinance similar notes that were originally scheduled to mature in 2025.”