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Related Party Transactions - Management Fees (Details) - USD ($)
3 Months Ended 9 Months Ended
Sep. 12, 2016
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Management Fee Revenue Abstract          
Management fees   $ 8,508,000 $ 10,098,000 $ 25,851,000 $ 26,178,000
PMT          
Management Fee Revenue Abstract          
Management fees   8,508,000 10,098,000 25,851,000 26,178,000
PMT | Management Agreement          
Transactions with Affiliates          
Percentage of change in net income due to quarterly adjustments 8.00%        
Management Fee Revenue Abstract          
Base management fee   8,508,000 7,914,000 25,851,000 20,862,000
Performance incentive     2,184,000   5,316,000
Management fees   $ 8,508,000 $ 10,098,000 $ 25,851,000 $ 26,178,000
PMT | Management Agreement | Maximum          
Transactions with Affiliates          
Percentage of performance incentive fee payable by issuance of common shares 50.00%        
PMT | Management Agreement | Minimum          
Transactions with Affiliates          
High watermark $ 0        
PMT | Shareholders Equity Up To 2 Billion Dollars | Maximum          
Transactions with Affiliates          
Base management fee annual rate (as a percent) 1.50%        
Base management fee shareholders' equity limit $ 2,000,000,000        
PMT | Shareholders Equity In Excess Of 2 Billion Dollars And Upto 5 Billion Dollars          
Transactions with Affiliates          
Base management fee annual rate (as a percent) 1.375%        
PMT | Shareholders Equity In Excess Of 2 Billion Dollars And Upto 5 Billion Dollars | Maximum          
Transactions with Affiliates          
Base management fee shareholders' equity limit $ 5,000,000,000        
PMT | Shareholders Equity In Excess Of 2 Billion Dollars And Upto 5 Billion Dollars | Minimum          
Transactions with Affiliates          
Base management fee shareholders' equity limit $ 2,000,000,000        
PMT | Shareholders Equity In Excess Of 5 Billion Dollars          
Transactions with Affiliates          
Base management fee annual rate (as a percent) 1.25%        
PMT | Shareholders Equity In Excess Of 5 Billion Dollars | Maximum          
Transactions with Affiliates          
Base management fee shareholders' equity limit $ 5,000,000,000        
PMT | Return on Shareholders Equity 8 Percent          
Transactions with Affiliates          
Percentage of net income for calculation of performance incentive fees 10.00%        
PMT | Return on Shareholders Equity 8 Percent | Maximum          
Transactions with Affiliates          
Percentage of return on affiliate's equity 12.00%        
PMT | Return on Shareholders Equity 8 Percent | Minimum          
Transactions with Affiliates          
Percentage of return on affiliate's equity 8.00%        
PMT | Return on Shareholders Equity 12 Percent          
Transactions with Affiliates          
Percentage of net income for calculation of performance incentive fees 15.00%        
Percentage of return on affiliate's equity 12.00%        
PMT | Return on Shareholders Equity 12 Percent | Maximum          
Transactions with Affiliates          
Percentage of return on affiliate's equity 16.00%        
PMT | Return on Shareholders Equity in Excess of 16 Percent          
Transactions with Affiliates          
Percentage of net income for calculation of performance incentive fees 20.00%        
Percentage of return on affiliate's equity 16.00%