PennyMac Mortgage higher after sizable beat

Q2 net investment income of $120.6M up 57% from Q1.

Book value per share of $21.27 up from $20.88. Current price is $22.02.

Investment Activities segment $70.9M of pretax income up from $33.1M in Q1.

Distressed Mortgage Investments generated realized and unrealized gains of $73.6M, up from $39.9M.

Mortgage Servicing Rights portfolio of $29.4B up from $27.3B. Net loan servicing revenue of $8.8M up from $7.4M.

Correspondent Production segment pretax income of $2.4M down from $3.1M. Company acquired $7B in UPB of loans through its correspondent activities during quarter.

Conference call at 10:30 ET

Previously: PennyMac Mortgage beats by $0.34

PMT +4.1%

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