PennyMac Mortgage Investment Trust is a finance company which invests primarily in residential mortgage loans and mortgagerelated assets It operates through following segments Correspondent Production Credit Sensitive Strategies Interest Rate Sensitive Strategies and Corporate Activities The Correspondent Production segment deals with purchasing pooling and reselling newly originated prime credit quality mortgage loans either directly or in the form of mortgagebacked securities in capital markets The Credit Sensitive Strategies segment includes investments in distressed mortgage loans real estate acquired in settlement of mortgage loans real estate held for investment credit risk transfer agreements nonagency subordinated bonds and small balance commercial real estate mortgage loans The Interest Rate Sensitive Strategies segment focuses on investments in mortgage servicing rights excess servicing spread agency and senior nonagency mortgagebacked securities and the related interest rate hedging activities The Corporate segment includes management fee and corporate expense amounts and certain interest income The company was founded by Stanford L Kurland on May 18 2009 and is headquartered in Westlake Village CA