Six months ended June 30,

2021

2020

(in thousands)

Cash paid for interest

$

208,015

$

127,806

Cash paid for income taxes, net

$

257,074

$

3,871

Non-cash investing activity:

Mortgage servicing rights resulting from loan sales

$

953,895

$

507,849

Unsettled portion of MSR acquisitions

$

—

$

1,053

Operating right-of-use assets recognized

$

7,813

$

6,498

Non-cash financing activity:

Mortgage servicing liabilities resulting from loan sales

$

64,383

$

6,576

Issuance of Excess servicing spread payable to PennyMac Mortgage Investment Trust pursuant to a recapture agreement

$

557

$

862

Issuance of common stock in settlement of directors' fees

$

101

$

96