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Fair Value - Financial Statement Items Measured at Fair Value on a Recurring Basis (Details) - USD ($)
$ in Thousands
Mar. 31, 2020
Dec. 31, 2019
Assets:    
Short-term investments at fair value $ 1,884 $ 74,611
Loans held for sale 5,541,987 4,912,953
Derivative assets:    
Derivative asset, before netting 849,882 187,397
Netting (416,671) (27,711)
Total derivative assets 433,211 159,686
Mortgage servicing rights at fair value 2,163,928 2,920,603
Derivative liabilities:    
Derivative liability, before netting 349,091 38,946
Netting (305,939) (16,616)
Net amounts of liabilities presented in the consolidated balance sheet 43,152 22,330
Mortgage servicing liabilities 29,761 29,140
PMT    
Derivative assets:    
Investment in PennyMac Mortgage Investment Trust 797 1,672
Interest rate lock commitments    
Derivative assets:    
Total derivative assets 317,621 138,511
Forward contracts | Purchases    
Derivative assets:    
Derivative asset, before netting 421,860 12,364
Derivative liabilities:    
Derivative liability, before netting 12,553 19,040
Forward contracts | Sales    
Derivative assets:    
Derivative asset, before netting 23,346 17,097
Derivative liabilities:    
Derivative liability, before netting 334,111 18,045
MBS put options    
Derivative assets:    
Derivative asset, before netting 4,062 3,415
Call options on interest rate futures | Purchases    
Derivative assets:    
Derivative asset, before netting 24,434 1,469
Put options on interest rate futures | Purchases    
Derivative assets:    
Derivative asset, before netting 13,676 3,945
Level 3 | Interest rate lock commitments    
Assets:    
Loans held for sale 315,194 136,650
Recurring basis    
Assets:    
Short-term investments at fair value 1,884 74,611
Loans held for sale 5,541,987 4,912,953
Derivative assets:    
Derivative asset, before netting 849,882 187,397
Netting (416,671) (27,711)
Total derivative assets 433,211 159,686
Mortgage servicing rights at fair value 2,193,697 2,926,790
Total assets 8,171,576 8,075,712
Derivative liabilities:    
Derivative liability, before netting 349,091 38,946
Netting (305,939) (16,616)
Net amounts of liabilities presented in the consolidated balance sheet 43,152 22,330
Mortgage servicing liabilities 29,761 29,140
Total liabilities 230,022 230,056
Recurring basis | PMT    
Derivative assets:    
Investment in PennyMac Mortgage Investment Trust 797 1,672
Derivative liabilities:    
Excess servicing spread financing at fair value to affiliate 157,109 178,586
Recurring basis | Interest rate lock commitments    
Derivative assets:    
Derivative asset, before netting 317,621 138,511
Derivative liabilities:    
Derivative liability, before netting 2,427 1,861
Recurring basis | Repurchase agreement derivatives    
Derivative assets:    
Derivative asset, before netting 8,187 8,187
Recurring basis | Forward contracts | Purchases    
Derivative assets:    
Derivative asset, before netting 421,860 12,364
Derivative liabilities:    
Derivative liability, before netting 12,553 19,040
Recurring basis | Forward contracts | Sales    
Derivative assets:    
Derivative asset, before netting 23,346 17,097
Derivative liabilities:    
Derivative liability, before netting 334,111 18,045
Recurring basis | MBS put options    
Derivative assets:    
Derivative asset, before netting 4,062 3,415
Recurring basis | Swaptions    
Derivative assets:    
Derivative asset, before netting 36,696 2,409
Recurring basis | Call options on interest rate futures | Purchases    
Derivative assets:    
Derivative asset, before netting 24,434 1,469
Recurring basis | Put options on interest rate futures | Purchases    
Derivative assets:    
Derivative asset, before netting 13,676 3,945
Recurring basis | Level 1    
Assets:    
Short-term investments at fair value 1,884 74,611
Derivative assets:    
Derivative asset, before netting 38,110 5,414
Total derivative assets 38,110 5,414
Total assets 40,791 81,697
Recurring basis | Level 1 | PMT    
Derivative assets:    
Investment in PennyMac Mortgage Investment Trust 797 1,672
Recurring basis | Level 1 | Call options on interest rate futures | Purchases    
Derivative assets:    
Derivative asset, before netting 24,434 1,469
Recurring basis | Level 1 | Put options on interest rate futures | Purchases    
Derivative assets:    
Derivative asset, before netting 13,676 3,945
Recurring basis | Level 2    
Assets:    
Loans held for sale 4,735,400 4,529,075
Derivative assets:    
Derivative asset, before netting 485,964 35,285
Total derivative assets 485,964 35,285
Total assets 5,221,364 4,564,360
Derivative liabilities:    
Derivative liability, before netting 346,664 37,085
Net amounts of liabilities presented in the consolidated balance sheet 346,664 37,085
Total liabilities 346,664 37,085
Recurring basis | Level 2 | Forward contracts | Purchases    
Derivative assets:    
Derivative asset, before netting 421,860 12,364
Derivative liabilities:    
Derivative liability, before netting 12,553 19,040
Recurring basis | Level 2 | Forward contracts | Sales    
Derivative assets:    
Derivative asset, before netting 23,346 17,097
Derivative liabilities:    
Derivative liability, before netting 334,111 18,045
Recurring basis | Level 2 | MBS put options    
Derivative assets:    
Derivative asset, before netting 4,062 3,415
Recurring basis | Level 2 | Swaptions    
Derivative assets:    
Derivative asset, before netting 36,696 2,409
Recurring basis | Level 3    
Assets:    
Loans held for sale 806,587 383,878
Derivative assets:    
Derivative asset, before netting 325,808 146,698
Total derivative assets 325,808 146,698
Mortgage servicing rights at fair value 2,193,697 2,926,790
Total assets 3,326,092 3,457,366
Derivative liabilities:    
Derivative liability, before netting 2,427 1,861
Net amounts of liabilities presented in the consolidated balance sheet 2,427 1,861
Mortgage servicing liabilities 29,761 29,140
Total liabilities 189,297 209,587
Recurring basis | Level 3 | PMT    
Derivative liabilities:    
Excess servicing spread financing at fair value to affiliate 157,109 178,586
Recurring basis | Level 3 | Interest rate lock commitments    
Derivative assets:    
Derivative asset, before netting 317,621 138,511
Derivative liabilities:    
Derivative liability, before netting 2,427 1,861
Recurring basis | Level 3 | Repurchase agreement derivatives    
Derivative assets:    
Derivative asset, before netting $ 8,187 $ 8,187