Net Gains on Loans Held for Sale (Tables)

3 Months Ended

Mar. 31, 2021

Net Gains on Loans Held for Sale

Net Gains on Loans Held for Sale

	Quarter ended March 31,
	2021		2020
	(in thousands)
From non-affiliates:
Cash gains (losses):
Loans	$	82,712	$	111,757
Hedging activities		736,225		(122,666)
		818,937		(10,909)
Non-cash gains:
Mortgage servicing rights and mortgage servicing liabilities resulting from loan sales		463,571		275,739
Provisions for losses relating to representations and warranties:
Pursuant to loan sales		(10,053)		(3,712)
Reductions in liability due to change in estimate		3,685		1,676
Changes in fair values of loans and derivatives held at quarter end:
Interest rate lock commitments		(339,086)		178,543
Loans		105,222		(72,080)
Hedging derivatives		(273,687)		(102,891)
		768,589		266,366
From PennyMac Mortgage Investment Trust (1)		(14,248)		77,916
	$	754,341	$	344,282