Private National Mortgage Acceptance Co. LLC, a company better known as PennyMac, has created a real estate investment trust that it plans to take public to raise funds for loan purchases.

PennyMac Mortgage Investment Trust filed a prospectus for an initial public offering Friday with the Securities and Exchange Commission. The prospectus listed the target proceeds at $750 million but said the estimate was made solely for the purpose of calculating the registration fee.

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