Net Gains on Loans Held for Sale (Tables)

3 Months Ended

Mar. 31, 2020

Net Gains on Loans Held for Sale

Net Gains on Loans Held for Sale

	Quarter ended March 31,
	2020		2019
	(in thousands)
From non-affiliates:
Cash loss:
Loans	$	111,757	$	(41,242)
Hedging activities		(122,666)		(8,927)
		(10,909)		(50,169)
Non-cash gain:
Mortgage servicing rights and mortgage servicing liabilities resulting from loan sales		275,739		114,957
Provision for losses relating to representations and warranties:
Pursuant to loan sales		(3,712)		(1,067)
Reduction in liability due to change in estimate		1,676		4,210
Change in fair value of loans and derivatives held at quarter end:
Interest rate lock commitments		178,543		16,727
Loans		(72,080)		(164)
Hedging derivatives		(102,891)		(25,741)
		266,366		58,753
From PennyMac Mortgage Investment Trust		77,916		26,023
	$	344,282	$	84,776