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Fair Value - Financial Statement Items Measured at Fair Value on a Recurring Basis (Details) - USD ($)
$ in Thousands
Sep. 30, 2020
Dec. 31, 2019
Assets:    
Short-term investments at fair value $ 102,136 $ 74,611
Loans held for sale 9,126,172 4,912,953
Derivative assets:    
Derivative asset, before netting 683,082 187,397
Netting (104,828) (27,711)
Total derivative assets 578,254 159,686
Derivative liabilities:    
Derivative liability, before netting 117,374 38,946
Netting (92,837) (16,616)
Net amounts of liabilities presented in the consolidated balance sheet 24,537 22,330
Mortgage servicing liabilities 31,698 29,140
PMT    
Derivative assets:    
Investment in PennyMac Mortgage Investment Trust 991 1,672
Interest rate lock commitments    
Derivative assets:    
Total derivative assets 544,151 138,511
Forward contracts | Purchases    
Derivative assets:    
Derivative asset, before netting 72,640 12,364
Derivative liabilities:    
Derivative liability, before netting 15,903 19,040
Forward contracts | Sales    
Derivative assets:    
Derivative asset, before netting 21,652 17,097
Derivative liabilities:    
Derivative liability, before netting 98,765 18,045
MBS put options    
Derivative assets:    
Derivative asset, before netting 27,336 3,415
MBS call options    
Derivative assets:    
Derivative asset, before netting 4,255  
Call options on interest rate futures | Purchases    
Derivative assets:    
Derivative asset, before netting 1,570 1,469
Put options on interest rate futures | Purchases    
Derivative assets:    
Derivative asset, before netting 5,910 3,945
Level 3    
Assets:    
Loans held for sale 2,774,997 383,878
Level 3 | Interest rate lock commitments    
Assets:    
Loans held for sale 541,445 136,650
Recurring basis    
Assets:    
Short-term investments at fair value 102,136 74,611
Loans held for sale 9,126,172 4,912,953
Derivative assets:    
Derivative asset, before netting 683,082 187,397
Netting (104,828) (27,711)
Total derivative assets 578,254 159,686
Mortgage servicing rights at fair value 2,333,821 2,926,790
Total assets 12,141,374 8,075,712
Derivative liabilities:    
Derivative liability, before netting 117,374 38,946
Netting (92,837) (16,616)
Net amounts of liabilities presented in the consolidated balance sheet 24,537 22,330
Mortgage servicing liabilities 31,698 29,140
Total liabilities 199,225 230,056
Recurring basis | PMT    
Derivative assets:    
Investment in PennyMac Mortgage Investment Trust 991 1,672
Derivative liabilities:    
Excess servicing spread financing at fair value to affiliate 142,990 178,586
Recurring basis | Interest rate lock commitments    
Derivative assets:    
Derivative asset, before netting 544,151 138,511
Derivative liabilities:    
Derivative liability, before netting 2,706 1,861
Recurring basis | Repurchase agreement derivatives    
Derivative assets:    
Derivative asset, before netting   8,187
Recurring basis | Forward contracts | Purchases    
Derivative assets:    
Derivative asset, before netting 72,640 12,364
Derivative liabilities:    
Derivative liability, before netting 15,903 19,040
Recurring basis | Forward contracts | Sales    
Derivative assets:    
Derivative asset, before netting 21,652 17,097
Derivative liabilities:    
Derivative liability, before netting 98,765 18,045
Recurring basis | MBS put options    
Derivative assets:    
Derivative asset, before netting 27,336 3,415
Recurring basis | MBS call options    
Derivative assets:    
Derivative asset, before netting 4,255  
Recurring basis | Swaptions    
Derivative assets:    
Derivative asset, before netting 5,568 2,409
Recurring basis | Call options on interest rate futures | Purchases    
Derivative assets:    
Derivative asset, before netting 1,570 1,469
Recurring basis | Put options on interest rate futures | Purchases    
Derivative assets:    
Derivative asset, before netting 5,910 3,945
Recurring basis | Level 1    
Assets:    
Short-term investments at fair value 102,136 74,611
Derivative assets:    
Derivative asset, before netting 7,480 5,414
Total derivative assets 7,480 5,414
Total assets 110,607 81,697
Recurring basis | Level 1 | PMT    
Derivative assets:    
Investment in PennyMac Mortgage Investment Trust 991 1,672
Recurring basis | Level 1 | Call options on interest rate futures | Purchases    
Derivative assets:    
Derivative asset, before netting 1,570 1,469
Recurring basis | Level 1 | Put options on interest rate futures | Purchases    
Derivative assets:    
Derivative asset, before netting 5,910 3,945
Recurring basis | Level 2    
Assets:    
Loans held for sale 6,351,175 4,529,075
Derivative assets:    
Derivative asset, before netting 131,451 35,285
Total derivative assets 131,451 35,285
Total assets 6,482,626 4,564,360
Derivative liabilities:    
Derivative liability, before netting 114,668 37,085
Net amounts of liabilities presented in the consolidated balance sheet 114,668 37,085
Total liabilities 114,668 37,085
Recurring basis | Level 2 | Forward contracts | Purchases    
Derivative assets:    
Derivative asset, before netting 72,640 12,364
Derivative liabilities:    
Derivative liability, before netting 15,903 19,040
Recurring basis | Level 2 | Forward contracts | Sales    
Derivative assets:    
Derivative asset, before netting 21,652 17,097
Derivative liabilities:    
Derivative liability, before netting 98,765 18,045
Recurring basis | Level 2 | MBS put options    
Derivative assets:    
Derivative asset, before netting 27,336 3,415
Recurring basis | Level 2 | MBS call options    
Derivative assets:    
Derivative asset, before netting 4,255  
Recurring basis | Level 2 | Swaptions    
Derivative assets:    
Derivative asset, before netting 5,568 2,409
Recurring basis | Level 3    
Assets:    
Loans held for sale 2,774,997 383,878
Derivative assets:    
Derivative asset, before netting 544,151 146,698
Total derivative assets 544,151 146,698
Mortgage servicing rights at fair value 2,333,821 2,926,790
Total assets 5,652,969 3,457,366
Derivative liabilities:    
Derivative liability, before netting 2,706 1,861
Net amounts of liabilities presented in the consolidated balance sheet 2,706 1,861
Mortgage servicing liabilities 31,698 29,140
Total liabilities 177,394 209,587
Recurring basis | Level 3 | PMT    
Derivative liabilities:    
Excess servicing spread financing at fair value to affiliate 142,990 178,586
Recurring basis | Level 3 | Interest rate lock commitments    
Derivative assets:    
Derivative asset, before netting 544,151 138,511
Derivative liabilities:    
Derivative liability, before netting $ 2,706 1,861
Recurring basis | Level 3 | Repurchase agreement derivatives    
Derivative assets:    
Derivative asset, before netting   $ 8,187