PennyMac Mortgage Investment Trust Declares Fourth Quarter 2020 Dividend for Its Common Shares
PennyMac Mortgage Investment Trust Declares Fourth Quarter 2020 Dividend for Its Common Shares PennyMac Mortgage Investment Trust (NYSE: PMT) announced today that its Board of Trustees declared a cash dividend of $0.47 per common share of beneficial interest for the fourth quarter of 2020. This dividend will be paid on January 29, 2021, to common shareholders of record as of December 31, 2020. President and CEO David Spector commented, I am pleased that PMTs dividend has returned to pre-COVID levels. While PMTs run-rate GAAP expectations remain above $0.47, we continue to seek to set a consistent dividend level for our common shares which, combined with our preferred shares, reflects our expectation for ongoing taxable income, which has increased since the third quarter.
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Portland homes for sale dip to lowest level ever as prices spike in bidding wars: ‘Cash is king’
Updated Dec 16, 2020;
Posted Dec 16, 2020
This 1,801-square-foot home built in 2015 in Bethany sold for $520,000 on Nov. 30, 2020. Portland metro s average sale price reached $521,200 in November 2020.Cinnamin Webb of Redfin
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Portland metro has never had so few homes for sale as seen in November, handing even more power to sellers and forcing buyers to face bidding wars or wait for more owners to list their residential property, which requires them to have confidence that they can find another place to live.
The logjam is long familiar to home shoppers competing in the Portland-area market. Basement-level inventory has been pushing prices higher for years.
PennyMac Mortgage Investment Trust Announces Promotions of Executive Officers
PennyMac Mortgage Investment Trust Announces Promotions of Executive Officers PennyMac Mortgage Investment Trust (NYSE: PMT) today announced changes in the roles of certain of its executive officers in conjunction with organizational changes announced today by PennyMac Financial Services, Inc. (NYSE: PFSI), PMTs manager and service provider. Andrew S. Chang, currently Senior Managing Director and Chief Financial Officer, will assume the new role of Senior Managing Director and Chief Operating Officer. Daniel S. Perotti, currently Senior Managing Director and Deputy Chief Financial Officer, will become Senior Managing Director and Chief Financial Officer.
Grand Rapids Business Journal
Mortgage volume reaches record levels nationally and that trend is reflected locally.
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Mortgage interest rates have been on a steep decline since the COVID-19 pandemic started, and as a result, there is a surge in mortgage refinancing.
“Low interest rates have created the busiest mortgage environment we have seen,” said Matt Muscat, director of marketing at Treadstone Funding, a residential mortgage lender in Grand Rapids. “We are seeing double to triple the amount of refinance transactions that we were seeing in years previous, while purchase mortgages are also up.”
Scott Setlock, senior vice president, mortgage and consumer lending for Mercantile Bank of Michigan, said they began seeing interest rates decrease significantly starting between late February and the beginning of March. That decrease translated in their clients conducting more refinancing either by lowering their monthly payments or reducing the length of their mortgage