Segments (Tables)

3 Months Ended

Mar. 31, 2021

Segments

Schedule of change in expense allocation, by segment

	Quarter ended March 31, 2021
	Mortgage Banking						Investment
	Production		Servicing		Total		Management		Total
	(in thousands)
Revenue: (1)
Net gains on loans held for sale at fair value	$	515,963	$	238,378	$	754,341	$	—	$	754,341
Loan origination fees		104,037		—		104,037		—		104,037
Fulfillment fees from PennyMac Mortgage Investment Trust		60,835		—		60,835		—		60,835
Net loan servicing fees		—		39,720		39,720		—		39,720
Net interest income (expense):
Interest income		29,531		52,550		82,081		—		82,081
Interest expense		38,072		69,638		107,710		3		107,713
		(8,541)		(17,088)		(25,629)		(3)		(25,632)
Management fees		—		—		—		8,449		8,449
Other		597		1,197		1,794		1,142		2,936
Total net revenue		672,891		262,207		935,098		9,588		944,686
Expenses		309,996		120,463		430,459		8,219		438,678
Income before provision for income taxes	$	362,895	$	141,744	$	504,639	$	1,369	$	506,008
Segment assets at quarter end	$	8,886,460	$	22,393,249	$	31,279,709	$	18,271	$	31,297,980

(1) All revenues are from external customers.

	Quarter ended March 31, 2020
	Mortgage Banking						Investment
	Production		Servicing		Total		Management		Total
	(in thousands)
Revenue: (1)
Net gains on loans held for sale at fair value	$	316,635	$	27,647	$	344,282	$	—	$	344,282
Loan origination fees		57,571		—		57,571		—		57,571
Fulfillment fees from PennyMac Mortgage Investment Trust		41,940		—		41,940		—		41,940
Net loan servicing fees		—		257,808		257,808		—		257,808
Net interest income (expense):
Interest income		26,585		45,979		72,564		—		72,564
Interest expense		20,157		41,346		61,503		9		61,512
		6,428		4,633		11,061		(9)		11,052
Management fees		—		—		—		9,055		9,055
Other		(10)		(680)		(690)		807		117
Total net revenue		422,564		289,408		711,972		9,853		721,825
Expenses		182,433		118,566		300,999		6,096		307,095
Income before provision for income taxes	$	240,131	$	170,842	$	410,973	$	3,757	$	414,730
Segment assets at quarter end	$	5,686,878	$	5,186,188	$	10,873,066	$	18,067	$	10,891,133

(1) All revenues are from external customers.