Net Gains on Mortgage Loans Held for Sale (Tables)

3 Months Ended

Mar. 31, 2019


	Quarter ended March 31,
	2019		2018
	(in thousands)
From non-affiliates:
Cash loss:
Mortgage loans	$	(41,242)	$	(181,801)
Hedging activities		(8,927)		104,396
		(50,169)		(77,405)
Non-cash gain:
Mortgage servicing rights and mortgage servicing liabilities resulting from mortgage loan sales		114,957		141,873
Provision for losses relating to representations and warranties:
Pursuant to mortgage loan sales		(1,067)		(1,492)
Reduction in liability due to change in estimate		4,210		1,113
Change in fair value relating to mortgage loans and derivatives held at quarter end:
Interest rate lock commitments		16,727		(7,376)
Mortgage loans		(164)		18,964
Hedging derivatives		(25,741)		(16,649)
		58,753		59,028
From PennyMac Mortgage Investment Trust		26,023		12,386
	$	84,776	$	71,414