PennyMac Mortgage Investment Trust Announces Appointment of President and Chief Mortgage Banking Officer

Rhea-AI Summary

PennyMac Mortgage Investment Trust (NYSE: PMT) has appointed Doug Jones as President and Chief Mortgage Banking Officer, enhancing leadership continuity. Previously, Mr. Jones was PMT's Senior Managing Director, overseeing loan production and servicing. Chairman and CEO David A. Spector emphasized the importance of succession planning and recognized Mr. Jones as a highly experienced mortgage executive. This strategic move aims to leverage PMT's investments while delivering strong risk-adjusted returns to shareholders.

Positive

• Doug Jones' promotion reinforces leadership continuity.
• Mr. Jones is recognized as a highly experienced mortgage executive.
• Focus on succession planning suggests stability in management.

Negative

• None.

PennyMac Mortgage Investment Trust (NYSE: PMT) today announced the appointment of Doug Jones as President and Chief Mortgage Banking Officer, in conjunction with a similar announcement today by PennyMac Financial Services, Inc. (NYSE: PFSI), PMT’s manager and service provider. Mr. Jones had previously served as PMT’s Senior Managing Director and Chief Mortgage Banking Officer. In his new role, Mr. Jones continues to be responsible for all activities relating to the Company’s loan production and loan servicing businesses.

“I am pleased to announce this promotion for Doug, which reflects the Company’s continued focus on succession planning,” said PMT Chairman and CEO David A. Spector. “Doug is an extremely focused and committed leader who is widely regarded as one of the most experienced and capable mortgage executives in our industry. Doug and I will continue to work with Andy Chang, Vandy Fartaj and our deep senior management team as we remain focused on pursuing attractive investments that leverage PFSI’s unique capabilities and delivering strong risk-adjusted returns to shareholders.”

About PennyMac Mortgage Investment Trust

PennyMac Mortgage Investment Trust is a mortgage real estate investment trust (REIT) that invests primarily in residential mortgage loans and mortgage-related assets. PMT is externally managed by PNMAC Capital Management, LLC, a wholly-owned subsidiary of PennyMac Financial Services, Inc. (NYSE: PFSI). Additional information about PennyMac Mortgage Investment Trust is available at www.PennyMac-REIT.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210303005900/en/

FAQ

Who is Doug Jones and what is his new role at PMT?

Doug Jones has been appointed as President and Chief Mortgage Banking Officer at PennyMac Mortgage Investment Trust, overseeing loan production and servicing.

What was Doug Jones' previous position at PMT?

Before his promotion, Doug Jones served as PMT's Senior Managing Director and Chief Mortgage Banking Officer.

Why is Doug Jones' appointment significant for PMT?

His appointment is part of PMT's succession planning, aimed at ensuring stable leadership and effective management.

Who commented on Doug Jones' promotion at PMT?

PMT Chairman and CEO David A. Spector commented, highlighting Doug's commitment and experience.

What is the primary focus of PennyMac Mortgage Investment Trust?

PMT primarily invests in residential mortgage loans and mortgage-related assets.