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PennyMac Financial Services, PennyMac Mortgage enter security agreements

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PennyMac Financial Services, PennyMac Mortgage enter security agreements

PennyMac Mortgage Investment Trust has entered into a loan and security agreement under which two of its subsidiaries, PennyMac Corp. and PennyMac Holdings LLC, may finance certain mortgage servicing rights relating to mortgage loans pooled into Freddie Mac securities.

Pursuant to the agreement, PennyMac Mortgage Investment Trust may borrow up to a committed amount of $375 million.

Additionally, PennyMac Financial Services Inc. entered into a loan and security agreement under which two of its subsidiaries, PennyMac Loan Services LLC and Private National Mortgage Acceptance Co. LLC, may finance certain mortgage servicing rights relating to mortgage loans pooled into Freddie Mac securities.

Pursuant to the agreement, PennyMac Financial Services may borrow up to a committed amount of $407 million.

PennyMac Mortgage Investment Trust and PennyMac Financial Services entered the agreements with Credit Suisse AG Cayman Islands branch as lender. Both the agreements are committed to Feb. 1, 2020.