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PennyMac Mortgage Investment, PennyMac Financial amend master repurchase agreements

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PennyMac Mortgage Investment, PennyMac Financial amend master repurchase agreements

PennyMac MortgageInvestment Trust and PennyMacFinancial Services Inc. have each amended their master repurchase agreements.

Before the amendment, PennyMac Mortgage's agreement providedfor a maximum aggregate purchase price of $300 million. Of this amount, $200 millionwas committed and available for purchases. Under the amended agreement's terms,the maximum aggregate purchase price was increased to $400 million. Of this amount,$250 million is committed and available for purchases.

The agreements allow the companies to sell, and later repurchase,newly originated mortgage loans. The termination date of these agreementsis Aug. 25, 2017.

Under PennyMac Financial's amended agreement, the maximum aggregatepurchase price was increased to $300 million. Of this amount, $175 million is committedand available for purchases. Before the amendment, theagreement provided for a maximum aggregate purchase price of $200 million. Of thisamount, $125 million was committed and available for purchases.