PennyMac Mortgage Investment Trust trusts in its ability to acquire distressed US residential mortgage loans. The company seeks to acquire primarily troubled home mortgage loans and mortgage-backed securities from FDIC liquidations of failed banks, US Treasury Legacy Loans Program auctions, and direct acquisitions from mortgage and insurance companies and foreign banks. PennyMac is managed by investment adviser PNMAC Capital Management and offers primary and special loan servicing through PennyMac Loan Services. The company is held by Private National Mortgage Acceptance Company (PNMAC).