CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Cash flow from operating activities
Net income	$ 191,483	$ 187,624
Adjustments to reconcile net income to net cash used in operating activities:
Net gains on mortgage loans held for sale at fair value	(189,274)	(293,183)
Amortization, impairment and change in fair value of mortgage servicing rights, mortgage servicing liabilities and excess servicing spread	156,696	218,132
Capitalization of interest on mortgage loans held for sale at fair value	(67,025)	(32,883)
Accrual of interest on excess servicing spread financing	11,584	13,011
Amortization of premiums and debt issuance costs	(19,198)	11,472
Results of real estate acquired in settlement of loans	(179)	(137)
Stock based compensation expense	20,766	14,634
Provision for servicing advance losses	24,046	26,157
Loss from disposition of fixed assets and impairment of capitalized software		389
Depreciation and amortization	9,046	6,229
Originations of mortgage loans held for sale	(4,049,591)	(3,906,688)
Purchase of mortgage loans from Ginnie Mae securities and early buyout investors for modification and subsequent sale	(3,342,029)	(2,629,907)
Sale and principal payments of mortgage loans held for sale to non-affiliates	34,208,217	38,097,411
Repurchase of mortgage loans subject to representations and warranties	(24,891)	(16,867)
Collection of repurchase agreement derivative	19,460
Decrease in servicing advances	35,813	57,310
Sale of real estate acquired in settlement of loans	3,004	2,758
Decrease in other assets	8,874	25,853
Increase (decrease) in accounts payable and accrued expenses	16,448	(34,102)
Payments to exchanged Private National Mortgage Acceptance Company, LLC unitholders under tax receivable agreement		(6,221)
Net cash provided by (used in) operating activities	732,584	(646,266)
Cash flow from investing activities
Decrease (increase) in short-term investments	24,604	(50,253)
Net settlement of derivative financial instruments used for hedging	(182,402)	(19,487)
Purchase of mortgage servicing rights	(180,139)	(167,466)
Purchase of furniture, fixtures, equipment and leasehold improvements	(8,919)	(5,276)
Acquisition of capitalized software	(13,091)	(11,576)
Increase in margin deposits	(836)	(33,171)
Net cash used in investing activities	(349,783)	(285,301)
Cash flow from financing activities
Sale of assets under agreements to repurchase	31,318,277	24,376,644
Repurchase of assets sold under agreements to repurchase	(31,960,304)	(24,016,601)
Issuance of mortgage loan participation certificates	19,398,281	13,780,569
Repayment of mortgage loan participation certificates	(19,401,301)	(13,919,864)
Advances on notes payable	1,300,000	935,000
Repayments of notes payable	(900,000)	(186,935)
Advances of obligations under capital lease		10,298
Repayments of obligations under capital lease	(11,341)	(9,349)
Repayment of excess servicing spread financing	(35,852)	(42,320)
Payment of debt issuance costs	(15,320)	(19,187)
Issuance of common stock pursuant to exercise of stock options	4,718	427
Repurchase of common stock	(4,826)	(8,599)
Payment of dividend to Class A common stockholders	(10,054)
Net cash (used in) provided by financing activities	(317,722)	900,083
Net increase (decrease) in cash and restricted cash	65,079	(31,484)
Cash and restricted cash at beginning of period	38,173	99,642
Cash and restricted cash at end of period	103,252	68,158
Cash	102,627	67,708
Restricted cash included in Other assets	625	450
Investment Funds
Adjustments to reconcile net income to net cash used in operating activities:
Accrual of servicing rebate payable to Investment Funds		129
Carried Interest from Investment Funds	365	1,045
Collection of Carried Interest	8,187	61,314
(Increase) decrease in receivable from affiliates	417	436
Decrease in payable to affiliate	(2,427)	(18,203)
PMT
Adjustments to reconcile net income to net cash used in operating activities:
Change in fair value of investment in common shares of PennyMac Mortgage Investment Trust	(313)	(76)
Purchase of mortgage loans held for sale from PennyMac Mortgage Investment Trust	(28,584,762)	(32,724,487)
Sale of mortgage loans held for sale to Penny Mac Mortgage Investment Trust	2,336,162	373,108
(Increase) decrease in receivable from affiliates	(2,825)	332
Decrease in payable to affiliate	(46,731)	(46,013)
Increase in income taxes payable	19,448	26,471
Cash flow from investing activities
Net change in assets purchased from PMT under agreement to resell	$ 11,000	$ 1,928