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PennyMac Mortgage Investment Trust Elects Two New Trustees

PennyMac Mortgage Investment Trust (NYSE: PMT) today announced the election of Nancy McAllister and Preston DuFauchard to its Board of Trustees.

Ms. McAllister has extensive experience in investment banking, primarily in the fixed income credit markets, having previously served as the Co-head of the Financial Institutions Group (FIG) in the Americas for Credit Suisse until May of 2011. In this leadership role, she oversaw a team of 90 investment bankers that provided strategic advice on debt and equity capital raising, balance sheet management and hedging to financial institutions throughout the U.S., Canada and Latin America. Prior to joining Credit Suisse in 2008, Ms. McAllister was Managing Director and Co-Head of the Depository Institutions coverage team within the Investment Bank for Lehman Brothers, Inc., where she worked for 17 years.

Mr. DuFauchard brings extensive legal and regulatory expertise to the Board. He previously served as the California Corporations Commissioner, leading a department responsible for the regulation and enforcement of state securities and franchise investment laws, as well as non-depository lending laws and regulations. Prior to joining the California Corporations Commission, he was an Assistant General Counsel at Bank of America, where he was responsible for litigation management and regulatory investigations in support of the Bank’s Global Corporate Investment Bank.

“We are pleased and honored to have both Nancy and Preston join PMT’s Board of Trustees,” stated Stanford L. Kurland, PMT’s Chairman and CEO. “As the Company continues to grow and expand into new opportunities, both their experience and expertise will be a welcome addition to the Board in its oversight of the Company and its business activities.”

About PennyMac Mortgage Investment Trust

PennyMac Mortgage Investment Trust is a mortgage real estate investment trust (REIT) that invests primarily in residential mortgage loans and mortgage-related assets. PennyMac Mortgage Investment Trust trades on the New York Stock Exchange under the symbol “PMT” and is externally managed by PNMAC Capital Management, LLC, a wholly owned subsidiary of Private National Mortgage Acceptance Company, LLC.

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