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PennyMac Mortgage Investment Trust cuts credit facility size

PennyMac Mortgage Investment Trust has amended a master repurchase agreement with JPMorgan Chase Bank NA to reduce the maximum purchase price to $170 million from $300 million through and including March 31, and to $115 million on and after April 1.

The amendment also extends the term of the credit facility to March 14, 2019. All other terms of the agreement and the related guaranty remain the same.

PennyMac Mortgage Investment Trust entered into the amendment to the agreement through its wholly owned subsidiaries, PennyMac Corp., PennyMac Holdings LLC, PennyMac Operating Partnership LP and PMC REO Trust 2015-1. Under the agreement, the PennyMac Mortgage Investment Trust subsidiaries may sell, and later repurchase, certain residential mortgage loans and mortgage-related assets.