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PennyMac Laments Lack of Performing Assets
In its first five months of operating as a publicly traded real-estate investment trust, PennyMac Mortgage Investment Trust has been unable to turn a profit. PMT posted a $1.88 million loss for the period, including a $1.15 million loss in the fourth quarter of 2009.
Stanford Kurland, chairman and CEO of PMT, said the REIT has focused on expanding operational...
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