PennyMac Mortgage Investment Trust(US:PMT)2022-05-06 16:53First Quarter 2022 Financial Results - Net loss attributable to common shareholders was $(30) million, with a diluted EPS of $(0.32)[5] - Book value per share was $17.87[5] - A dividend of $0.47 per common share was declared[5] - Credit Sensitive Strategies reported a pretax income of $(56) million, but an income excluding market-driven value changes of $29 million[5] - Interest Rate Sensitive Strategies reported a pretax income of $84 million, with an income excluding market-driven value changes of $41 million[5] - Conventional correspondent production volume reached $9.8 billion[5] Market Overview - The U S mortgage origination market is expected to decline substantially from 2021, with 2022 forecasts ranging from $2.6 trillion to $3.1 trillion[10] - Purchase originations are expected to dominate the market in the coming years[10] Investment Activities - $86 million was invested in floating-rate CRT bonds issued by Freddie Mac and Fannie Mae in 1Q22[15] - $27 million was invested in fixed-rate bonds from a senior tranche of a jumbo securitization[15] - $31 million was invested in floating-rate CRT bonds issued by Freddie Mac and Fannie Mae after quarter-end[15] MSR Investments - MSR assets totaled $3.4 billion as of March 31st, an increase from $2.9 billion at the end of 2021[29] - UPB associated with MSR investments increased to $219 billion[29] Correspondent Production - Correspondent acquisitions totaled $22.5 billion in UPB, a decrease of 31% Q/Q and 56% Y/Y[23]