Six months ended June 30,

2020

2019

(in thousands)

Cash paid for interest

$

127,806

$

73,905

Cash paid for income taxes, net

$

3,871

$

261

Non-cash investing activity:

Mortgage servicing rights resulting from loan sales

$

507,849

$

299,082

Mortgage servicing liabilities resulting from loan sales

$

6,576

$

7,632

Unsettled portion of MSR acquisitions

$

1,053

$

9,457

Operating right-of-use assets recognized

$

6,498

$

58,713

Non-cash financing activity:

Issuance of Excess servicing spread payable to PennyMac Mortgage Investment Trust pursuant to a recapture agreement

$

862

$

950

Issuance of common stock in settlement of directors' fees

$

96

$

136