CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Cash flow from operating activities
Net income	$ 46,135	$ 66,926
Adjustments to reconcile net income to net cash used in operating activities:
Change in fair value of mortgage servicing rights, mortgage servicing liabilities and excess servicing spread	118,806	43,884
Net gains on mortgage loans held for sale at fair value	(84,776)	(71,414)
Capitalization of interest on mortgage loans held for sale at fair value	(16,487)	(14,467)
Accrual of interest on excess servicing spread financing	3,066	3,934
Amortization of net debt issuance (premiums) and costs	(6,570)	(3,600)
Results of real estate acquired in settlement of loans	(274)	28
Stock based compensation expense	4,531	6,171
Provision for servicing advance losses	4,820	6,787
Depreciation and amortization	3,159	2,592
Amortization of right-to-use assets	2,359
Originations of mortgage loans held for sale	(1,719,734)	(1,281,302)
Purchase of mortgage loans from Ginnie Mae securities and early buyout investors for modification and subsequent sale	(941,154)	(911,585)
Sale and principal payments of mortgage loans held for sale to non-affiliates	8,536,430	11,103,785
Repurchase of mortgage loans subject to representations and warranties	(4,064)	(6,309)
Settlement of repurchase agreement derivatives	11,436
Decrease in servicing advances	24,087	27,450
Sale of real estate acquired in settlement of loans	2,075	1,230
(Increase) decrease in other assets	(38,676)	6,198
Decrease in operating lease liabilities	(2,977)
Increase in accounts payable and accrued expenses	10,483	2,344
Net cash (used in) provided by operating activities	(134,247)	537,392
Cash flow from investing activities
(Increase) decrease in short-term investments	(31,548)	64,190
Net settlement of derivative financial instruments used for hedging	125,695	(128,099)
Purchase of mortgage servicing rights	(211,481)	(27,544)
Purchase of furniture, fixtures, equipment and leasehold improvements	(2,126)	(2,779)
Acquisition of capitalized software	(6,750)	(3,722)
Decrease in margin deposits	28,343	15,501
Net cash used in investing activities	(92,771)	(81,263)
Cash flow from financing activities
Sale of assets under agreements to repurchase	8,382,013	9,771,234
Repurchase of assets sold under agreements to repurchase	(8,164,625)	(10,338,629)
Issuance of mortgage loan participation purchase and sale certificates	5,555,946	6,155,178
Repayment of mortgage loan participation purchase and sale certificates	(5,540,374)	(6,172,301)
Advances on notes payable		650,000
Repayments of notes payable		(400,000)
Repayments of obligations under capital lease	(1,514)	(4,536)
Repayment of excess servicing spread financing	(10,552)	(12,291)
Payment of debt issuance costs	(1,536)	(7,891)
Issuance of common stock pursuant to exercise of stock options	1,283	3,255
Payment of withholding taxes relating to stock-based compensation	(4,634)
Net cash provided by (used in) financing activities	216,007	(355,981)
Net increase (decrease) in cash and restricted cash	(11,011)	100,148
Cash and restricted cash at beginning of quarter	155,924	38,173
Cash and restricted cash at end of quarter	144,913	138,321
Cash	144,266	137,863
Restricted cash included in Other assets	647	458
Investment Funds
Adjustments to reconcile net income to net cash used in operating activities:
Carried Interest from Investment Funds		180
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	(156)	(147)
Purchase of mortgage loans held for sale from PennyMac Mortgage Investment Trust	(6,959,389)	(9,212,188)
Sale of mortgage loans held for sale to Penny Mac Mortgage Investment Trust	884,510	781,326
Decrease (increase) in receivable from affiliates	2,775	(955)
Decrease in payable to affiliate	(28,752)	(19,544)
Increase in income taxes payable	14,090	6,068
Cash flow from investing activities
Net change in assets purchased from PMT under agreement to resell	$ 5,096	$ 1,190