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Other Expenses (Tables)
 3 Months Ended
Mar. 31, 2016
Other Income and Expenses [Abstract]  
Summary of Other Expenses

Other expenses are summarized below:

 

     Quarter ended March 31,  
     2016      2015  
     (in thousands)  

Common overhead allocation from PFSI (1)

    $ 2,561       $ 2,392   

Mortgage loan origination

      1,121         953   

Real estate held for investment

      557         —     

Technology

      435         292   

Insurance

      318         373   

Other

      644         847   
  

 

 

     

 

 

  
   $ 5,636       $ 4,857   
  

 

 

     

 

 

  

 

(1) On December 15, 2015, the Operating Partnership amended its management agreement to provide that the total costs and expenses incurred by PFSI in any quarter and reimbursable by the Operating Partnership is capped at an amount equal to the product of (A) 70 basis points (0.0070), multiplied by (B) PMT’s shareholders’ equity (as defined in the management agreement) as of the last day of the month preceding quarter end, divided by four.