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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Net gains on loans held for sale at fair value:        
Net gains on loans held for sale at fair value $ 314,455 $ 256,819 $ 770,151 $ 595,324
Loan origination fees 61,696 49,430 167,398 127,876
Fulfillment fees from PennyMac Mortgage Investment Trust 6,162 11,492 17,266 19,935
Loan servicing fees:        
Servicing fees 535,106 462,037 1,530,241 1,326,917
Change in fair value of mortgage servicing rights and mortgage servicing liabilities (392,174) (628,258) (1,070,300) (758,158)
Mortgage servicing rights hedging results 98,306 242,051 95,978 (224,371)
Change in fair value of mortgage servicing rights and mortgage-backed securities (293,868) (386,207) (974,322) (982,529)
Net loan servicing fees 241,238 75,830 555,919 344,388
Management fees from PennyMac Mortgage Investment Trust 6,912 7,153 20,793 21,474
Net interest (expense) income:        
Interest income 248,753 225,470 660,553 582,707
Interest expense 249,900 217,597 697,559 591,237
Net interest (expense) income (1,147) 7,873 (37,006) (8,530)
Results of real estate acquired in settlement of loans (981) (269) (1,159) 330
Change in fair value of investment in and dividends received from PennyMac Mortgage Investment Trust (15) 68 65 38
Repricing of payable to exchanged Private National Mortgage Acceptance Company , LLC unitholders under tax receivable agreement     1,092  
Other 4,578 3,438 14,012 22,786
Total net revenues 632,898 411,834 1,508,531 1,123,621
Expenses        
Compensation 205,314 171,316 574,843 459,648
Loan origination 69,407 45,208 182,339 116,046
Technology 44,772 37,059 127,226 108,716
Servicing 29,105 28,885 79,266 67,909
Marketing and advertising 14,016 5,088 35,837 14,204
Professional services 10,145 9,339 27,562 28,005
Occupancy and equipment 8,604 8,156 25,365 24,725
Other 15,161 12,858 39,081 32,706
Total expenses 396,524 317,909 1,091,519 851,959
Income before provision for income taxes 236,374 93,925 417,012 271,662
Provision for income taxes 54,871 24,557 22,766 64,728
Net income $ 181,503 $ 69,368 $ 394,246 $ 206,934
Earnings per share        
Basic (in dollars per share) $ 3.51 $ 1.36 $ 7.64 $ 4.07
Diluted (in dollars per share) $ 3.37 $ 1.3 $ 7.34 $ 3.88
Weighted-average shares outstanding        
Basic (in shares) 51,730 51,180 51,635 50,895
Diluted (in shares) 53,879 53,495 53,734 53,274
Related Party        
Net gains on loans held for sale at fair value:        
Net gains on loans held for sale at fair value $ 17,454 $ 2,506 $ 29,367 $ 1,680
Loan origination fees 558 1,107 1,537 1,897
Nonrelated Party        
Net gains on loans held for sale at fair value:        
Net gains on loans held for sale at fair value 297,001 254,313 740,784 593,644
Loan origination fees 61,138 48,323 165,861 125,979
Net interest (expense) income:        
Interest expense 249,900 217,597 697,559 591,237
Non-affiliates | Nonrelated Party        
Loan servicing fees:        
Servicing fees 460,360 393,457 1,313,564 1,126,523
PennyMac Mortgage Investment Trust | Related Party        
Net gains on loans held for sale at fair value:        
Net gains on loans held for sale at fair value 17,454 2,506 29,367 1,680
Loan servicing fees:        
Servicing fees 21,012 22,240 64,386 62,766
Net interest (expense) income:        
Change in fair value of investment in and dividends received from PennyMac Mortgage Investment Trust (15) 68 65 38
Others | Nonrelated Party        
Loan servicing fees:        
Servicing fees $ 53,734 $ 46,340 $ 152,291 $ 137,628