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PennyMac Mortgage Investment Trust, PennyMac Financial Services amend master repurchase agreements

PennyMacMortgage Investment Trust and PennyMac Financial Services Inc. have each amendedseparate master repurchase agreements.

PennyMac Mortgage amended the terms of two master repurchaseagreements with Credit Suisse First Boston Mortgage Capital LLC through itswholly owned subsidiaries, PennyMac Operating Partnership LP, PennyMac Corp.,PennyMac Holdings LLC and PMC REO Financing Trust.

Prior to the amendments, the agreements collectivelyprovided for a maximum combined purchase price of $850 million. Under the termsof the amendments, Credit Suisse agreed to increase the maximum combinedpurchase price to $1.15 billion until Oct. 26, at which time the maximumcombined purchase price will be reset to $850 million.

PennyMac Financial, through its indirect controlledsubsidiary, PennyMac Loan Services LLC, amended its master repurchase agreementwith Citibank NA. Under the terms of the amendment, the uncommitted amount ofthe maximum aggregate purchase price was increased to $250 million from $50million until Oct. 15, at which time the uncommitted amount will be reset to$50 million.

Additionally, PennyMac Financial, through PennyMac LoanServices and Private National Mortgage Acceptance Co. LLC, also amended theterms of two master repurchase agreements with Credit Suisse. Prior to theamendments, the agreements collectively provided for a maximum combinedpurchase price of $907 million.

Under the terms of the amendments, Credit Suisse agreed toincrease the maximum combined purchase price to about $1.21 billion until Oct.26, at which time the maximum combined purchase price will be reset to $907million.