Net Gains on Loans Held for Sale (Tables)

6 Months Ended

Jun. 30, 2021

Net Gains on Loans Held for Sale

Net Gains on Loans Held for Sale

	Quarter ended June 30,				Six months ended June 30,
	2021		2020		2021		2020
	(in thousands)
From non-affiliates:
Cash gains:
Loans	$	387,305	$	502,416	$	470,017	$	614,173
Hedging activities		(325,651)		(227,013)		410,574		(349,679)
		61,654		275,403		880,591		264,494
Non-cash gains:
Mortgage servicing rights and mortgage servicing liabilities resulting from loan sales		425,941		225,534		889,512		501,273
Provisions for losses relating to representations and warranties:
Pursuant to loan sales		(10,304)		(4,189)		(20,357)		(7,901)
Reductions in liability due to change in estimate		3,640		1,270		7,325		2,946
Changes in fair values of loans and derivatives held at period end:
Interest rate lock commitments		5,670		52,871		(333,416)		231,414
Loans		(50,322)		10,978		54,900		(61,102)
Hedging derivatives		157,917		125,898		(115,770)		23,007
		594,196		687,765		1,362,785		954,131
From PennyMac Mortgage Investment Trust (1)		(11,548)		(5,592)		(25,796)		72,324
	$	582,648	$	682,173	$	1,336,989	$	1,026,455