Net Interest Income (Tables)

3 Months Ended

Mar. 31, 2021

Net Interest Income

Summary of net interest income

	Quarter ended March 31,
	2021		2020
	(in thousands)
Interest income:
From non-affiliates:
Cash and short-term investments	$	987	$	1,711
Loans held for sale at fair value		74,824		46,426
Placement fees relating to custodial funds		5,883		23,209
		81,694		71,346
From PennyMac Mortgage Investment Trust—Assets purchased from PennyMac Mortgage Investment Trust under agreements to resell		387		1,218
		82,081		72,564
Interest expense:
To non-affiliates:
Assets sold under agreements to repurchase		52,179		25,684
Mortgage loan participation purchase and sale agreements		1,095		1,810
Obligations under capital lease		59		167
Notes payable secured by mortgage servicing assets		9,888		14,846
Unsecured senior notes		12,670		—
Corporate revolving line of credit		—		503
Interest shortfall on repayments of mortgage loans serviced for Agency securitizations		29,436		14,871
Interest on mortgage loan impound deposits		1,106		1,657
		106,433		59,538
To PennyMac Mortgage Investment Trust—Excess servicing spread financing at fair value		1,280		1,974
		107,713		61,512
	$	(25,632)	$	11,052