PennyMac Mortgage Investment Trust, Calabasas, said it has bought a $40 million portfolio of problem loans and is negotiating to buy a second one which has an unpaid principal balance of $100 million. No purchase price was disclosed. Since the end of September, the company has reviewed $6 billion in whole loan portfolios and is seeing an increase in offerings in the secondary market. PennyMac, a publicly traded REIT, has a handful of affiliates which are engaged in servicing, investment, and advisory work. Penny Mac, which went public this past summer, will release its fourth quarter earnings Feb. 1.
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