PennyMac REIT Invests $69M in Private-Label RMBS

In its first two months of operation, PennyMac Mortgage Investment Trust (PMT: 18.17 -2.21%), a newly formed mortgage real estate investment trust (REIT), invested nearly $70m in private-label — or non-agency — mortgage-related securities. The REIT’s initial investments produced $816,000 of total revenues, offset by management fees and other expenses that brought results for the period [...]...