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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Net gains on loans held for sale at fair value:    
From non-affiliates $ 768,589 $ 266,366
Net gains on loans held for sale at fair value 754,341 344,282
Loan origination fees from non-affiliates 95,845 53,591
Loan origination fees 104,037 57,571
Loan servicing fees    
From non-affiliates 210,753 198,653
Other 29,599 28,755
Loan servicing fees 259,445 241,929
Change in fair value of mortgage servicing rights and mortgage servicing liabilities (223,463) 1,035,213
Mortgage servicing rights hedging results (442,151) 1,036,570
Change in fair value of excess servicing spread payable to PennyMac Mortgage Investment Trust (219,725) 15,879
Net loan servicing fees 39,720 257,808
Interest income:    
From non-affiliates 81,694 71,346
Interest income 82,081 72,564
Interest expense:    
To non-affiliates 106,433 59,538
Interest expense 107,713 61,512
Net interest (expense) income (25,632) 11,052
Management fees, net:    
Management fees 8,449 9,055
Result of real estate acquired in settlement of loans 780 (707)
Other 1,755 1,681
Total net revenue 944,686 721,825
Expenses    
Compensation 258,829 168,436
Loan origination 87,392 46,004
Technology 33,672 19,107
Servicing 19,183 42,166
Professional services 13,286 13,404
Occupancy and equipment 9,038 8,038
Other 17,278 9,940
Total expenses 438,678 307,095
Income before provision for income taxes 506,008 414,730
Provision for income taxes 129,140 108,487
Net income 376,868 306,243
Net income attributable to PennyMac Financial Services, Inc. common stockholders $ 376,868 $ 306,243
Earnings per share    
Basic (in dollars per share) $ 5.45 $ 3.89
Diluted (in dollars per share) $ 5.15 $ 3.73
Weighted-average shares outstanding    
Basic (in shares) 69,113 78,689
Diluted (in shares) 73,117 82,008
Dividend declared per share (in dollars per share) $ 0.20 $ 0.12
PMT    
Net gains on loans held for sale at fair value:    
From PennyMac Mortgage Investment Trust $ (14,248) $ 77,916
Loan origination fees from PennyMac Mortgage Investment Trust 8,192 3,980
Fulfillment fees from PennyMac Mortgage Investment Trust 60,835 41,940
Loan servicing fees    
Loan servicing fees from affiliates 19,093 14,521
Changes in fair value included in income (1,037) 14,522
Interest income:    
From PennyMac Mortgage Investment Trust 387 1,218
Interest expense:    
To PennyMac Mortgage Investment Trust 1,280 1,974
Management fees, net:    
Management fees 8,449 9,055
Change in fair value of investment in and dividends received from affiliate $ 401 $ (857)