PennyMac Mortgage Investment Trust issues $355M secured term notes for Fannie Mae MSR financing

PennyMac Mortgage Investment Trust

Issued $355M Series 2024-FT1 Term Notes through subsidiaries, secured by Fannie Mae mortgage servicing rights.
Notes mature December 27, 2027; optional six-month extension available; floating rate based on SOFR plus spread.
Notes rank pari passu with existing term notes and variable funding notes in the structured finance transaction.
Contains customary advance rate reduction events, early amortization events, and margin call provisions.
Proceeds provide additional financing for mortgage servicing rights and related excess servicing spread receivables.

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