
	Quarter ended September 30, 2018
	Mortgage Banking						Investment
	Production		Servicing		Total		Management		Total
	(in thousands)
Revenue: (1)
Net mortgage loan servicing fees	$	—	$	109,703	$	109,703	$	—	$	109,703
Net gains on mortgage loans held for sale at fair value		34,947		21,967		56,914		—		56,914
Mortgage loan origination fees		26,485		—		26,485		—		26,485
Fulfillment fees from PennyMac Mortgage Investment Trust		26,256		—		26,256		—		26,256
Net interest income (expense):
Interest income		17,013		43,935		60,948		16		60,964
Interest expense		1,274		37,491		38,765		10		38,775
		15,739		6,444		22,183		6		22,189
Management fees		—		—		—		6,471		6,471
Carried Interest from Investment Funds		—		—		—		(17)		(17)
Other		645		805		1,450		1,478		2,928
Total net revenue		104,072		138,919		242,991		7,938		250,929
Expenses		78,405		105,346		183,751		5,481		189,232
Income before provision for income taxes	$	25,667	$	33,573	$	59,240	$	2,457	$	61,697
Segment assets at quarter end (2)	$	2,168,126	$	4,812,898	$	6,981,024	$	11,996	$	6,993,020

(1)

All revenues are from external customers.

(2)

Excludes parent Company assets, which consist primarily of working capital of $1.8 million and includes receivable from parent Company of $2.3 million.


	Quarter ended September 30, 2017
	Mortgage Banking						Investment
	Production		Servicing		Total		Management		Total
	(in thousands)
Revenue: (1)
Net mortgage loan servicing fees	$	—	$	78,081	$	78,081	$	—	$	78,081
Net gains on mortgage loans held for sale at fair value		79,983		28,153		108,136		—		108,136
Mortgage loan origination fees		33,168		—		33,168		—		33,168
Fulfillment fees from PennyMac Mortgage Investment Trust		23,507		—		23,507		—		23,507
Net interest income (expense):
Interest income		17,651		26,791		44,442		—		44,442
Interest expense		12,355		30,124		42,479		13		42,492
		5,296		(3,333)		1,963		(13)		1,950
Management fees		—		—		—		6,216		6,216
Carried Interest from Investment Funds		—		—		—		(1,158)		(1,158)
Other		235		525		760		(25)		735
Total net revenue		142,189		103,426		245,615		5,020		250,635
Expenses		73,231		78,955		152,186		4,305		156,491
Income before provision for income taxes	$	68,958	$	24,471	$	93,429	$	715	$	94,144
Segment assets at quarter end (2)	$	2,737,666	$	3,628,689	$	6,366,355	$	20,369	$	6,386,724

(1)

All revenues are from external customers.

(2)

Excludes parent Company assets, which consist primarily of working capital of $1.6 million.


	Nine months ended September 30, 2018
	Mortgage Banking						Investment
	Production		Servicing		Total		Management		Total
	(in thousands)
Revenue: (1)
Net mortgage loan servicing fees	$	—	$	340,181	$	340,181	$	—	$	340,181
Net gains on mortgage loans held for sale at fair value		105,111		84,163		189,274		—		189,274
Mortgage loan origination fees		75,476		—		75,476		—		75,476
Fulfillment fees from PennyMac Mortgage Investment Trust		52,759		—		52,759		—		52,759
Net interest income (expense):
Interest income		48,135		110,532		158,667		16		158,683
Interest expense		4,401		103,694		108,095		41		108,136
		43,734		6,838		50,572		(25)		50,547
Management fees		—		—		—		17,910		17,910
Carried Interest from Investment Funds		—		—		—		(365)		(365)
Other		1,497		1,928		3,425		4,221		7,646
Total net revenue		278,577		433,110		711,687		21,741		733,428
Expenses		216,722		290,094		506,816		17,221		524,037
Income before provision for income taxes	$	61,855	$	143,016	$	204,871	$	4,520	$	209,391
Segment assets at period end (2)	$	2,168,126	$	4,812,898	$	6,981,024	$	11,996	$	6,993,020

(1)

All revenues are from external customers.

(2)

Excludes parent Company assets, which consist primarily of working capital of $1.8 million and includes receivable from parent Company of $2.3 million.


	Nine months ended September 30, 2017
	Mortgage Banking						Investment
	Production		Servicing		Total		Management		Total
	(in thousands)
Revenue: (1)
Net mortgage loan servicing fees	$	—	$	199,157	$	199,157	$	—	$	199,157
Net gains on mortgage loans held for sale at fair value		217,526		75,657		293,183		—		293,183
Mortgage loan origination fees		88,935		—		88,935		—		88,935
Fulfillment fees from PennyMac Mortgage Investment Trust		61,184		—		61,184		—		61,184
Net interest income (expense):
Interest income		45,866		57,408		103,274		—		103,274
Interest expense		32,507		76,299		108,806		37		108,843
		13,359		(18,891)		(5,532)		(37)		(5,569)
Management fees		—		—		—		17,597		17,597
Carried Interest from Investment Funds		—		—		—		(1,045)		(1,045)
Other		1,711		1,442		3,153		234		3,387
Total net revenue		382,715		257,365		640,080		16,749		656,829
Expenses		199,547		230,691		430,238		12,455		442,693
Income before provision for income taxes	$	183,168	$	26,674	$	209,842	$	4,294	$	214,136
Segment assets at period end (2)	$	2,737,666	$	3,628,689	$	6,366,355	$	20,369	$	6,386,724

(1)

All revenues are from external customers.

Excludes parent Company assets, which consist primarily of working capital of $1.6 million.