Q1 2023 PennyMac Mortgage Investment Trust Earnings Call (Pre-Recorded) Transcript
Good afternoon, and welcome to the first quarter discussion for PennyMac Mortgage Investment Trust. The slides that are accompanying this discussion are available on PennyMac Mortgage Investment Trust's website at pmt.pennymac.com.
Before we begin, let me remind you that our discussion contains forward-looking statements that are subject to the risks identified on Slide 2 that could cause our actual results to differ materially.
Now I'd like to introduce David Spector, PMT's Chairman and Chief Executive Officer, who will discuss the company's first quarter 2023 results.
Thank you, Isaac. PMT reported strong earnings in the first quarter of 2023, as solid results from its credit-sensitive strategies and income excluding the impacts of market-driven fair value changes, were partially offset by fair value declines in its interest rate-sensitive strategies, which drove a tax benefit.
Net
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