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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Net gains on loans held for sale at fair value:    
From non-affiliates $ 266,366 $ 58,753
Net gains on loans held for sale at fair value 344,282 84,776
Loan origination fees from non-affiliates 53,591 21,687
Loan origination fees 57,571 23,930
Loan servicing fees    
From non-affiliates and affiliates 198,653 166,790
Other 28,755 22,017
Loan servicing fees 241,929 199,377
Amortization, impairment and change in fair value of mortgage servicing rights and mortgage servicing liabilities 1,357 (122,857)
Change in fair value of excess servicing spread payable to PennyMac Mortgage Investment Trust 15,879 (118,806)
Net loan servicing fees 257,808 80,571
Interest income:    
From non-affiliates 71,346 56,537
Interest income 72,564 58,333
Interest expense:    
To non-affiliates 59,538 34,477
Interest expense 61,512 37,543
Net interest income 11,052 20,790
Management fees, net:    
Management fees 9,055 7,248
Result of real estate acquired in settlement of loans (707) 274
Other 1,681 2,350
Total net revenue 721,825 247,705
Expenses    
Compensation 168,436 106,600
Loan origination 46,004 14,497
Servicing 42,166 30,293
Technology 19,107 15,966
Professional services 13,404 5,881
Occupancy and equipment 8,038 6,776
Other 9,940 7,401
Total expenses 307,095 187,414
Income before provision for income taxes 414,730 60,291
Provision for income taxes 108,487 14,156
Net income attributable to PennyMac Financial Services, Inc. common stockholders $ 306,243 $ 46,135
Earnings per share    
Basic (in dollars per share) $ 3.89 $ 0.59
Diluted (in dollars per share) $ 3.73 $ 0.58
Weighted-average shares outstanding    
Basic (in shares) 78,689 77,653
Diluted (in shares) 82,008 79,286
Dividend declared per share (in dollars per share) $ 0.12  
PMT    
Net gains on loans held for sale at fair value:    
From PennyMac Mortgage Investment Trust $ 77,916 $ 26,023
Loan origination fees from PennyMac Mortgage Investment Trust 3,980 2,243
Fulfillment fees from PennyMac Mortgage Investment Trust 41,940 27,574
Loan servicing fees    
From non-affiliates and affiliates 14,521 10,570
Changes in fair value included in income 14,522 4,051
Interest income:    
From PennyMac Mortgage Investment Trust 1,218 1,796
Interest expense:    
To PennyMac Mortgage Investment Trust 1,974 3,066
Management fees, net:    
Management fees 9,055 7,248
Change in fair value of investment in and dividends received from affiliate $ (857) $ 192