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XX%. Slide at common with for share, reported income a quarter $X.XX equity net an increased of common Let's $XX.XX dividend XX. to of X. quarter. And $XX.X the to at of common average shareholders return from per share value million attributable per annualized share $XX.XX begin end on PMT Book June or per representing paid $X.XX PMT
contributed four pretax and PMT $XX.X in Credit million, segments, $XX.X reports of which Sensitive a million pretax Corporate, income; Strategies, with Correspondent through loss pretax loss $XX.X Rate Interest income; results a million in contributed pretax Sensitive million. $XX.X with Production, Strategies, which of
driven taxable on held by fair Lastly, subsidiary. a REIT we recorded value in MSRs benefit, $XX.X PMT's tax million losses income
Our interest servicing Interest continued results from our declining results. strong our mortgage-backed mortgage risk rights and Production transfer the performance our quarter, hedges were The in fair GSE losses rates Results spread resulting servicing Correspondent rate securities offset market volatility. were credit from Sensitive agency this than performance substantially value and offset interest Strategy of more reflect investments. and strong quarter by during Rate on investments to excess
investment, PMT acquisition capital its billion continued strong quarterly pace driven conventional in record, by of volumes UPB. of $XX.X
purchase firm to Mae of billion $XX.X commitment which million securities. Fannie in loans delivered CRT-eligible the to a we For quarter, in UPB, of resulted $XXX CRT
totaled the New MSR investments $XXX million. quarter for
continue Let's turn of Slide our third discussion results. and X to quarter
the $XXX net $XX in capital in performance distressed the the opportunities drove activities completed previously successful totaling proceeds. UPB. we quarter and sale million investment announced loans quarter, totaling in the from excellent of million During PMT's raising strong portfolio,
million million our in million we $XX proceeds X.X shares. sold an through in In we additional August, the approximately $X.X of common an offering, from And shares equity net million offering At-The-Market issuance underwritten $XXX net raised for proceeds. equity through program,
term to am issued to fifth related expand investment, notes CRT the that end, later. of note pleased will I after quarter our upon we David Finally, X-year $XXX million which
discuss turn environment. X current the let's to Now Slide and market
Looking the uncertainty, clarity impact the slowing international growth. of for trade the around to by of driven outlook ahead rate U.S. direction of reflect lack tariffs continues the economy the on of and global
in of yield the quarter, October, response, driving XX-year at through In XX-year the rates averaged remained and increase levels mortgage bond the quarter lower. mortgage most activity. treasury in the during comparable declined refinance on fixed-rate third The X.XX% substantial driving third
increase in monthly activity, of a was in Refinance the was quarter. average measure the MBA quarter prior Index XX% in than As the higher third it
to $X.X the total total in a now originations low-rate over XXXX expected originations forecasted originations with to tight $X forecast continue support to for low Purchase moderated driven in more elevated has home and XX% still home volumes rates appreciation into by the levels Similarly, up wage to that are XXXX, single-digit largely of average loan continuation of now levels trillion, aided environment. low are Forecasts, total XXXX percentages in consistent from while refinance by growth, June. trillion, price prices. grow supply by in
at and XX, on relative credit was securities X.XX% XXXX prior X.XX% total risk strong the X.XX% and mortgage to low. GSE rate spreads remain ago. June markets as transfer down delinquency quarter a The September year XX from Credit as tightened remained U.S. delinquencies of
enact and minimize reforms. to the the finance administrative for September, plans plan finance risk. turn to potential PMT. and conservatorship outlines mortgage in GSEs Now, legislative to taxpayer the end facilitate in changes seeks to The finance released implications treasury, discuss and for let's housing seeks the to In market reform, X of Slide and required actions housing competition which
mortgage the announced would July roles eliminate GSE in U.S. ability Mae its QM any significant Freddie of from repay proposed Fannie which follow believe take in mortgage patch time. reduction qualified and the Mac extent. that to the the to Furthermore, having place in to a to exempted CFPB loans rule the has over full rule We market
will the changes risk. with GSEs, in we expect in structure of Even the private invest agency to credit capital provide meaningful PMT continue to
to is on prime in We its securitization our as well expertise, Building previous securitizations we also investments with believe expand such activities and HELOC products as interests. the loan evolves. prime, and expect PMT positioned remain non-agency active, and non-QM to market
X, has compelling is, to investment growth. driven Supporting robust investments, for which the discuss third by Slide PMT's we the third activities. detailed primary activity deployment our quarter. quarter's Let's resulting PMT's this investment for the and investment in this been its turn year capital volume. activity of activity driver The raising Slide investment production On capital investment each CRT in MSR to X from during strategies behind outlook quarter was perspective and growth strong
CRT million noted loan investments distressed down significantly million the I as purchase deliveries in $XXX reduced in at of eligible of earlier, of the quarter previously mentioned loans commitment loans portfolio, our and end sale distressed our to to in quarter. CRT this runoff, a the REO million for class $XXX efforts to Net liquidation totaled As investments. investments from September prior asset new Continuing our of the led $XX firm $XXX CRT XX, new for million.
PMT comprehensive $XXX $XXX of of interest mitigate and securitization of to New the of million MSR part the the UPB and from sourced million designed a assets. during runoff as by sensitivity quarter of the rate conventional MSR MBS net Agency strategy production. ESS billion were in held totaled $XX.X investments added are
MBS investments grew and quarter as billion. by we This of reducing net September long-term million. total, position million portfolio assets third $X.X MBS rebalanced XX the our agency mortgage quarter, the new were $XXX to $XXX In in
strategies. Now let's investment potential review to run return quarterly turn the and slide PMT's X rate of
quarters. in on common PMT's next a investment returns diluted XX.X%. per which of is PMT's several strategies an for would $X.XX return run of run our rate EPS Our for expectation annualized rate over equity potential reflects expectation result the quarter,
and results allocation growth potential to run on MSRs driven to of production with of return CRT our correspondent continued income PMT's average rate by expected annualized related is from potential XX% equity Our Strategies XX%. Credit a equity Sensitive activities. organically
Our Credit Sensitive credit Strategies primarily consist reflects potential of in our a investments return tightened. with that that have CRT spreads
and the moderate impact Rate on of in this Interest to return is hedge XX% allocated aggregate of interest We average to primarily segment MSRs returns. as rate volatility results with positions annualized MBS Equity the Sensitive of expected to Strategies equity consider used XX%. and an ESS are on
are the Andy contributions hedge earnings growing will the our MSR for by later. asset and Our outlook upon from primarily increased expand driven expectations costs, which
deliver XX% the seen average approximately Equity allocated the of loans recently. Correspondent Production to equity of lastly, is substantially elevated an over distressed expected sales. results on return which REO And annualized we the segment the recent from reflects a ongoing XX%, have given to and time and diminished normalization impact has
I'd my David to will activities. turn Chief now concludes investment Spector, who our to presentation. PMT's like This over discussion review the mortgage And and Executive President Officer
