PennyMac Mortgage reports Q2 EPS (4c) vs 17c last year

Net interest income for the segment totaled $2.1 million, compared to $1.4 million in the prior quarter. Interest income totaled $21.0 million, up from $19.5 million in the prior quarter. Interest expense totaled $18.8 million, up from $18.1 million in the prior quarter. Book value per common share decreased to $15.00 at June 30, 2025, from $15.43 at March 31, 2025. “PMT produced solid levels of income excluding market-driven value changes in the second quarter,” said Chairman and CEO David Spector. “This positive core performance was offset by net fair value declines due to interest rate volatility as well as a non-recurring tax adjustment. During the quarter, we opportunistically issued $105 million in unsecured senior notes, demonstrating our strong access to the capital markets, while strengthening our balance sheet and extending our debt maturity profile. Additionally, we firmly established PMT as a leading issuer of private label securitizations, successfully executing four private label securitizations totaling $1.4 billion in UPB, with retained investments of more than $150 million at attractive returns. This recent securitization activity exemplifies our increased emphasis on diversifying and organically growing our credit-sensitive investments as well as our ability to adapt to the evolving mortgage landscape.”