CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Cash flow from operating activities
Net income	$ 658,920	$ 118,831
Adjustments to reconcile net income to net cash used in operating activities:
Net gains on loans held for sale at fair value	(1,026,455)	(232,309)
Change in fair value of mortgage servicing rights, mortgage servicing liabilities and excess servicing spread	1,225,844	615,738
Hedging gains	(1,020,806)	(337,737)
Capitalization of interest on loans held for sale at fair value	(33,198)	(36,550)
Amortization of net debt issuance cost and (premiums)	5,565	(7,701)
Results of real estate acquired in settlement of loans	411	(1,017)
Stock based compensation expense	19,125	10,183
Provision for servicing advance losses	34,061	8,375
Depreciation and amortization	10,725	6,750
Amortization of right-to-use assets	6,017	4,736
Origination of loans held for sale	(11,820,127)	(3,936,922)
Purchase of loans held for sale from non-affiliates	(1,461,210)	(589,510)
Purchase of loans from Ginnie Mae securities and early buyout investors for modification and subsequent sale	(2,995,791)	(1,995,933)
Sale to non-affiliates and principal payments of loans held for sale	40,526,005	21,186,748
Repurchase of loans subject to representations and warranties	(34,518)	(11,312)
Settlement of repurchase agreement derivatives		22,572
Decrease in servicing advances	2,411	26,373
Sale of real estate acquired in settlement of loans	19,559	4,066
Increase in other assets	(132,288)	(1,471)
Decrease in operating lease liabilities	(6,888)	(6,004)
Increase in accounts payable and accrued expenses	39,792	5,715
Net cash provided by (used in) operating activities	365,597	(881,945)
Cash flow from investing activities
Decrease in short-term investments	66,865	42,282
Net settlement of derivative financial instruments used for hedging of mortgage servicing rights	995,223	327,544
Purchase of mortgage servicing rights	(24,707)	(217,942)
Purchase of furniture, fixtures, equipment and leasehold improvements	(3,472)	(4,405)
Acquisition of capitalized software	(33,270)	(18,238)
(Increase) decrease in margin deposits	(31,913)	18,889
Net cash provided by investing activities	986,137	160,439
Cash flow from financing activities
Sale of assets under agreements to repurchase	39,561,048	20,955,022
Repurchase of assets sold under agreements to repurchase	(39,933,232)	(20,141,847)
Issuance of mortgage loan participation purchase and sale certificates	11,548,130	11,375,849
Repayment of mortgage loan participation purchase and sale certificates	(11,509,683)	(11,385,036)
Advances of obligations under capital lease		25,123
Repayments of obligations under capital lease	(4,061)	(3,433)
Repayment of excess servicing spread financing	(17,430)	(21,082)
Payment of debt issuance costs	(14,240)	(3,064)
Issuance of common stock pursuant to exercise of stock options	5,631	1,746
Payment of withholding taxes relating to stock-based compensation	(5,265)	(4,634)
Payment of dividend to holders of common stock	(19,538)
Repurchase of common stock	(241,283)	(1,056)
Net cash (used in) provided by (used in) financing activities	(629,923)	797,588
Net increase in cash and restricted cash	721,811	76,082
Cash and restricted cash at beginning of period	188,578	155,924
Cash and restricted cash at end of period	910,389	232,006
Cash	910,257	231,388
Restricted cash included in Other assets	132	618
PMT
Adjustments to reconcile net income to net cash used in operating activities:
Accrual of interest on excess servicing spread financing payable to PennyMac Mortgage Investment Trust	4,346	5,833
Change in fair value of investment in common shares of PennyMac Mortgage Investment Trust	362	(240)
Purchase of loans held for sale from PennyMac Mortgage Investment Trust	(26,112,503)	(17,956,971)
Sale of loans held for sale to Penny Mac Mortgage Investment Trust	2,248,869	2,218,721
Increase in receivable from affiliates	(171)	(3,092)
Decrease in payable to affiliate	(24,761)	(40,607)
Increase in income taxes payable	232,301	40,790
Cash flow from investing activities
Net change in assets purchased from PMT under agreement to resell	$ 17,411	$ 12,309