Parent Company Information (Tables)

12 Months Ended

Dec. 31, 2016

Condensed Financial Information Of Parent Company Only Disclosure [Abstract]

Schedule of Parent Company Information

PENNYMAC MORTGAGE INVESTMENT TRUST

CONDENSED BALANCE SHEETS

	December 31,
	2016		2015
	(in thousands)
Assets
Short-term investment	$	1,035	$	2,606
Investments in subsidiaries		1,408,979		1,558,728
Due from affiliates		100		168
Due from PennyMac Financial Services, Inc.		54		—
Other assets		610		806
Total assets		1,410,778		1,562,308
Liabilities
Dividends payable		31,385		34,720
Accounts payable and accrued liabilities		2,765		2,708
Capital notes due to subsidiaries		18,409		20,379
Due to PennyMac Financial Services, Inc.		1,185		1,247
Due to affiliates		42		219
Income taxes payable		—		—
Total liabilities		53,786		59,273
Shareholders' equity		1,356,992		1,503,035
Total liabilities and shareholders' equity		1,410,778		1,562,308

PENNYMAC MORTGAGE INVESTMENT TRUST

CONDENSED STATEMENTS OF INCOME

	Year ended December 31,
	2016			2015			2014
	(in thousands)
Income
Dividends from subsidiaries	$	230,091		$	171,254		$	174,192
Intercompany interest		6			8			15
Interest		—			—			4
Other		1,250			1,250			1,250
Total income		231,347			172,512			175,461
Expenses
Intercompany interest		1,382			441			26
Other		(114	)		14			—
Total expenses		1,268			455			26
Income before provision for income taxes and    equity in undistributed earnings in subsidiaries		230,079			172,057			175,435
Provision for income taxes		442			875			372
Income before equity in undistributed earnings of    subsidiaries		229,637			171,182			175,063
Equity in undistributed earnings of subsidiaries		(155,093	)		(78,704	)		23,288
Net income	$	74,544		$	92,478		$	198,351

PENNYMAC MORTGAGE INVESTMENT TRUST

CONDENSED STATEMENTS OF CASH FLOWS

	Year ended December 31,
	2016			2015			2014
	(in thousands, except share data)
Cash flows from operating activities:
Net income	$	74,544		$	92,478		$	198,351
Equity in undistributed earnings of subsidiaries		155,093			78,704			(23,288	)
Decrease in due from affiliates		693			915			107
Decrease (increase) in other assets		196			(284	)		(1	)
Increase (decrease)  in accounts payable and accrued liabilities		93			(257	)		(837	)
Increase in due from affiliates		(116	)		(238	)		(652	)
Decrease due to affiliates		(174	)		(119	)		(40	)
Increase in income taxes payable		—			(126	)		59
Net cash provided by operating activities		230,329			171,073			173,699
Cash flows from investing activities:
Increase in investment in subsidiaries		—			—			(89,618	)
Net decrease in short-term investments		1,571			(2,100	)		834
Net cash used by investing activities		1,571			(2,100	)		(88,784	)
Cash flows from financing activities:
Issuance of common shares		—			8			90,588
Net increase in intercompany unsecured note payable    to PMT subsidiary		(1,970	)		20,379			—
Repurchases of common shares		(98,370	)		(16,338	)		—
Payment of common share underwriting and offering costs		—			—			(1,070	)
Payment of dividends		(131,560	)		(173,022	)		(174,433	)
Net cash provided (used) by financing activities		(231,900	)		(168,973	)		(84,915	)
Net change in cash		—			—			—
Cash at beginning of year		—			—			—
Cash at end of year	$	—		$	—		$	—
Non-cash financing activity — dividends payable	$	31,655		$	35,069		$	45,894