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New words:
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achieve, adequacy, amending, assigned, barring, Biden, buffer, building, Bulletin, challenge, commensurate, comment, compensated, constitutional, Crystal, deconsolidated, Department, depreciated, description, Development, directed, director, dismissed, disposed, disputed, dynamic, effected, ending, enhanced, enterprise, ERCF, experiencing, extended, facilitating, Finally, forma, horizon, housed, independent, insulated, interpretation, introduce, leadership, legislative, memorandum, modified, Moroney, OCC, opportunistically, outcome, panel, passage, passed, payday, petition, planned, planning, pose, post, practicable, prescribed, President, pro, properly, proposed, prudential, refining, regulator, remanded, remove, replaced, requiring, response, retroactive, revision, rulemaking, ruling, safety, salary, Secretary, stability, standardized, Street, stressful, submit, superseded, TL, troubled, Trump, turn, twelve, unconstitutional, United, Urban, vacated, Wall, weight
Financial report summary
?Competition
Pennymac Mortgage Investment TrustManagement Discussion
- For the first quarter of 2024, we had net income available to our common stock and participating securities of $15.0 million, or $0.14 per basic and diluted common share, compared to a net income available to common stock and participating securities of $81.5 million, or $0.80 per basic and $0.76 per diluted common share, for the fourth quarter of 2023. The decrease in net income available to common stock and participating securities in the current period primarily reflects a lower Other income/(loss), net, which decreased by $53.7 million to $22.4 million for the current period, compared to an Other income/(loss), net of $76.1 million in the immediately prior quarter. The decrease was primarily driven by mark-to-market losses in the current period on both our residential whole loans that are measured at fair value through earnings and certain of our securities that are measured at fair value through earnings compared with gains in the prior period, partially offset by gains on derivatives used for risk management purposes compared with losses in the prior period and lower losses on securitized debt measured at fair value through earnings.