Quarter ended June 30,

Six months ended June 30,

2021

2020

2021

2020

(in thousands)

Interest income:

From non-affiliates:

Cash and short-term investments

$

747

$

1,893

$

1,734

$

3,604

Loans held for sale at fair value

76,453

32,586

151,277

79,012

Placement fees relating to custodial funds

3,597

12,047

9,480

35,256

80,797

46,526

162,491

117,872

From PennyMac Mortgage Investment Trust—Assets purchased from PennyMac Mortgage Investment Trust under agreements to resell

—

792

387

2,010

80,797

47,318

162,878

119,882

Interest expense:

To non-affiliates:

Assets sold under agreements to repurchase

44,623

17,487

96,802

43,171

Mortgage loan participation purchase and sale agreements

1,039

1,061

2,134

2,871

Obligations under capital lease

48

104

107

271

Notes payable secured by mortgage servicing assets

10,104

11,109

19,992

25,955

Unsecured senior notes

16,169

—

28,839

—

Corporate revolving line of credit

—

472

—

975

Interest shortfall on repayments of mortgage loans serviced for Agency securitizations

29,144

18,954

58,580

33,825

Interest on mortgage loan impound deposits

1,304

1,648

2,410

3,305

102,431

50,835

208,864

110,373

To PennyMac Mortgage Investment Trust—Excess servicing spread financing at fair value

—

2,372

1,280

4,346

102,431

53,207

210,144

114,719

$

(21,634)

$

(5,889)

$

(47,266)

$

5,163