Vulture fund PennyMac Mortgage Investment Trust last week entered into a $125 million repurchase agreement with Citibank, N.A., according to a new public filing.

The financing vehicle deal was inked around the same time that Citigroup agreed to sell a $441 million package of nonperforming mortgages to PennyMac, a publicly traded REIT with affiliates that service and originate loans. (Both Citi and PennyMac have declined to comment on the NPL sale, which was first reported by ASR's sister publication National Mortgage News.)

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