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Fair Value - Financial Statement Items Measured at Fair Value on a Recurring Basis (Details) - USD ($)
$ in Thousands
Jun. 30, 2020
Dec. 31, 2019
Assets:    
Short-term investments at fair value $ 7,746 $ 74,611
Loans held for sale 4,918,253 4,912,953
Derivative assets:    
Derivative asset, before netting 493,621 187,397
Netting (93,319) (27,711)
Total derivative assets 400,302 159,686
Derivative liabilities:    
Derivative liability, before netting 114,948 38,946
Netting (93,794) (16,616)
Net amounts of liabilities presented in the consolidated balance sheet 21,154 22,330
Mortgage servicing liabilities 29,858 29,140
PMT    
Derivative assets:    
Investment in PennyMac Mortgage Investment Trust 1,310 1,672
Interest rate lock commitments    
Derivative assets:    
Total derivative assets 369,455 138,511
Forward contracts | Purchases    
Derivative assets:    
Derivative asset, before netting 93,136 12,364
Derivative liabilities:    
Derivative liability, before netting 4,184 19,040
Forward contracts | Sales    
Derivative assets:    
Derivative asset, before netting 5,271 17,097
Derivative liabilities:    
Derivative liability, before netting 109,371 18,045
MBS put options    
Derivative assets:    
Derivative asset, before netting 8,543 3,415
Derivative liabilities:    
Derivative liability, before netting 2  
Call options on interest rate futures | Purchases    
Derivative assets:    
Derivative asset, before netting 3,438 1,469
Put options on interest rate futures | Purchases    
Derivative assets:    
Derivative asset, before netting 273 3,945
Level 3    
Assets:    
Loans held for sale 661,719 383,878
Level 3 | Interest rate lock commitments    
Assets:    
Loans held for sale 368,064 136,650
Recurring basis    
Assets:    
Short-term investments at fair value 7,746 74,611
Loans held for sale 4,918,253 4,912,953
Derivative assets:    
Derivative asset, before netting 493,621 187,397
Netting (93,319) (27,711)
Total derivative assets 400,302 159,686
Mortgage servicing rights at fair value 2,213,539 2,926,790
Total assets 7,541,150 8,075,712
Derivative liabilities:    
Derivative liability, before netting 114,948 38,946
Netting (93,794) (16,616)
Net amounts of liabilities presented in the consolidated balance sheet 21,154 22,330
Mortgage servicing liabilities 29,858 29,140
Total liabilities 202,218 230,056
Recurring basis | PMT    
Derivative assets:    
Investment in PennyMac Mortgage Investment Trust 1,310 1,672
Derivative liabilities:    
Excess servicing spread financing at fair value to affiliate 151,206 178,586
Recurring basis | MBS put options    
Derivative liabilities:    
Derivative liability, before netting 2  
Recurring basis | Interest rate lock commitments    
Derivative assets:    
Derivative asset, before netting 369,455 138,511
Derivative liabilities:    
Derivative liability, before netting 1,391 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 93,136 12,364
Derivative liabilities:    
Derivative liability, before netting 4,184 19,040
Recurring basis | Forward contracts | Sales    
Derivative assets:    
Derivative asset, before netting 5,271 17,097
Derivative liabilities:    
Derivative liability, before netting 109,371 18,045
Recurring basis | MBS put options    
Derivative assets:    
Derivative asset, before netting 8,543 3,415
Recurring basis | Swaptions    
Derivative assets:    
Derivative asset, before netting 5,318 2,409
Recurring basis | Call options on interest rate futures | Purchases    
Derivative assets:    
Derivative asset, before netting 3,438 1,469
Recurring basis | Put options on interest rate futures | Purchases    
Derivative assets:    
Derivative asset, before netting 273 3,945
Recurring basis | Level 1    
Assets:    
Short-term investments at fair value 7,746 74,611
Derivative assets:    
Derivative asset, before netting 3,711 5,414
Total derivative assets 3,711 5,414
Total assets 12,767 81,697
Recurring basis | Level 1 | PMT    
Derivative assets:    
Investment in PennyMac Mortgage Investment Trust 1,310 1,672
Recurring basis | Level 1 | Call options on interest rate futures | Purchases    
Derivative assets:    
Derivative asset, before netting 3,438 1,469
Recurring basis | Level 1 | Put options on interest rate futures | Purchases    
Derivative assets:    
Derivative asset, before netting 273 3,945
Recurring basis | Level 2    
Assets:    
Loans held for sale 4,256,534 4,529,075
Derivative assets:    
Derivative asset, before netting 112,268 35,285
Total derivative assets 112,268 35,285
Total assets 4,368,802 4,564,360
Derivative liabilities:    
Derivative liability, before netting 113,557 37,085
Net amounts of liabilities presented in the consolidated balance sheet 113,557 37,085
Total liabilities 113,557 37,085
Recurring basis | Level 2 | MBS put options    
Derivative liabilities:    
Derivative liability, before netting 2  
Recurring basis | Level 2 | Forward contracts | Purchases    
Derivative assets:    
Derivative asset, before netting 93,136 12,364
Derivative liabilities:    
Derivative liability, before netting 4,184 19,040
Recurring basis | Level 2 | Forward contracts | Sales    
Derivative assets:    
Derivative asset, before netting 5,271 17,097
Derivative liabilities:    
Derivative liability, before netting 109,371 18,045
Recurring basis | Level 2 | MBS put options    
Derivative assets:    
Derivative asset, before netting 8,543 3,415
Recurring basis | Level 2 | Swaptions    
Derivative assets:    
Derivative asset, before netting 5,318 2,409
Recurring basis | Level 3    
Assets:    
Loans held for sale 661,719 383,878
Derivative assets:    
Derivative asset, before netting 377,642 146,698
Total derivative assets 377,642 146,698
Mortgage servicing rights at fair value 2,213,539 2,926,790
Total assets 3,252,900 3,457,366
Derivative liabilities:    
Derivative liability, before netting 1,391 1,861
Net amounts of liabilities presented in the consolidated balance sheet 1,391 1,861
Mortgage servicing liabilities 29,858 29,140
Total liabilities 182,455 209,587
Recurring basis | Level 3 | PMT    
Derivative liabilities:    
Excess servicing spread financing at fair value to affiliate 151,206 178,586
Recurring basis | Level 3 | Interest rate lock commitments    
Derivative assets:    
Derivative asset, before netting 369,455 138,511
Derivative liabilities:    
Derivative liability, before netting 1,391 1,861
Recurring basis | Level 3 | Repurchase agreement derivatives    
Derivative assets:    
Derivative asset, before netting $ 8,187 $ 8,187