Segments (Tables)

3 Months Ended

Mar. 31, 2020

Segments

Schedule of change in expense allocation, by segment

	Quarter ended March 31, 2020
	Mortgage Banking						Investment
	Production		Servicing		Total		Management		Total
	(in thousands)
Revenue: (1)
Net gains on loans held for sale at fair value	$	316,635	$	27,647	$	344,282	$	—	$	344,282
Loan origination fees		57,571		—		57,571		—		57,571
Fulfillment fees from PennyMac Mortgage Investment Trust		41,940		—		41,940		—		41,940
Net loan servicing fees		—		257,808		257,808		—		257,808
Net interest income:
Interest income		26,585		45,979		72,564		—		72,564
Interest expense		20,157		41,346		61,503		9		61,512
		6,428		4,633		11,061		(9)		11,052
Management fees		—		—		—		9,055		9,055
Other		(10)		(680)		(690)		807		117
Total net revenue		422,564		289,408		711,972		9,853		721,825
Expenses		182,433		118,566		300,999		6,096		307,095
Income before provision for income taxes	$	240,131	$	170,842	$	410,973	$	3,757	$	414,730
Segment assets at quarter end	$	5,686,878	$	5,186,188	$	10,873,066	$	18,067	$	10,891,133

(1) All revenues are from external customers.

	Quarter ended March 31, 2019
	Mortgage Banking						Investment
	Production		Servicing		Total		Management		Total
	(in thousands)
Revenue: (1)
Net gains on loans held for sale at fair value	$	66,721	$	18,055	$	84,776	$	—	$	84,776
Loan origination fees		23,930		—		23,930		—		23,930
Fulfillment fees from PennyMac Mortgage Investment Trust		27,574		—		27,574		—		27,574
Net loan servicing fees		—		80,571		80,571		—		80,571
Net interest income (expense):
Interest income		14,369		43,964		58,333		—		58,333
Interest expense		3,915		33,621		37,536		7		37,543
		10,454		10,343		20,797		(7)		20,790
Management fees		—		—		—		7,248		7,248
Other		488		765		1,253		1,563		2,816
Total net revenue		129,167		109,734		238,901		8,804		247,705
Expenses		82,161		98,571		180,732		6,682		187,414
Income before provision for income taxes	$	47,006	$	11,163	$	58,169	$	2,122	$	60,291
Segment assets at quarter end	$	2,501,468	$	5,299,813	$	7,801,281	$	17,719	$	7,819,000

(1) All revenues are from external customers.