PennyMac Mortgage Investment Trust is buying a bunch of non-performing residential mortgage loans and residential properties from a Citigroup subsidiary.
Under the agreement Citigroup Global Markets Realty Corp. is providing $140 million in unpaid principal balance to PennyMac, as well as assets Citi acquired from another, unnamed big bank, according to a filing with the Securities & Exchange Commission.
The assets are now subserviced by PennyMac Loan Services.
