Los Angeles Business Journal

PennyMac Buys Distressed Assets from Citi

By Deborah Crowe Wednesday, June 19, 2013

PennyMac Mortgage Investment Trust on Wednesday said it signed an agreement with Citigroup Global Markets Realty Corp. to buy a portfolio of non-performing residential mortgage loans and some residential properties.

The Moorpark investor in residential mortgage loans and mortgage-related assets said in a Tuesday regulatory filing that Citigroup had acquired the portfolio from another bank. PennyMac did not say how much it paid for the portfolio.

PennyMac shares closed down 52 cents, or 2.4 percent, to $21.19 on the New York Stock Exchange.