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Consolidated Statements of Income (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Net investment income        
Contractually specified $ 162,127 $ 165,499 $ 322,484 $ 329,713
Other 2,815 6,826 5,826 10,769
Net mortgage loan servicing fees 164,942 172,325 328,310 340,482
Change in fair value of mortgage servicing rights (50,556) (87,997) (78,758) (225,441)
Mortgage servicing rights hedging results (18,365) 23,996 (108,179) (30,895)
Net servicing fees from non-affiliates 96,494 108,833 142,199 85,140
Net gains on loans acquired for sale: 12,160 4,446 26,678 10,919
Loan origination fees 2,451 4,295 4,459 12,001
Net (losses) gains on investments and financings (19,743) (2,499) 20,010 123,305
Interest income 151,835 162,684 295,394 315,703
Interest expense 171,841 187,390 343,368 366,527
Net interest expense (20,006) (24,706) (47,974) (50,824)
Results of real estate acquired in settlement of loans (224) (56) (90) 0
Other 66 139 121 277
Net investment income 71,198 90,452 145,403 180,818
Expenses        
Management fees 7,133 7,078 14,321 14,335
Professional services 2,366 1,881 4,124 3,404
Compensation 1,369 1,279 3,285 2,818
Loan collection and liquidation 671 909 2,040 1,488
Safekeeping 961 1,124 1,893 2,240
Loan origination 533 897 1,006 3,075
Other 4,865 4,673 8,775 9,674
Total expenses 42,589 43,599 84,413 95,164
Income before provision for (benefit from) income taxes 28,609 46,853 60,990 85,654
Provision for (benefit from) income taxes 3,175 22,229 (12,052) 333
Net Income (Loss) 25,434 24,624 73,042 85,321
Dividends on preferred shares 10,454 10,454 20,909 20,909
Net income attributable to common shareholders $ 14,980 $ 14,170 $ 52,133 $ 64,412
Earnings per common share        
Basic $ 0.17 $ 0.16 $ 0.6 $ 0.73
Diluted $ 0.17 $ 0.16 $ 0.6 $ 0.68
Weighted average common shares outstanding        
Basic 86,849 87,269 86,769 88,046
Diluted 86,849 87,269 86,769 112,374
Nonaffiliates [Member]        
Net investment income        
Other $ 2,815 $ 6,826 $ 5,826 $ 10,769
Net servicing fees from non-affiliates 96,021 108,324 141,373 84,146
Net gains on loans acquired for sale: 10,110 2,614 23,023 7,759
PennyMac Financial Services, Inc. [Member]        
Net investment income        
From PennyMac Financial Services, Inc. 473 509 826 994
Net gains on loans acquired for sale: 2,050 1,832 3,655 3,160
Expenses        
Loan servicing fees 20,264 20,317 40,526 40,766
Management fees 7,133 7,078 14,321 14,335
Loan fulfillment fees $ 4,427 $ 5,441 $ 8,443 $ 17,364