CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Cash flow from operating activities
Net income	$ 581,097	$ 658,920
Adjustments to reconcile net income to net cash used in operating activities:
Net gains on loans held for sale at fair value	(1,336,989)	(1,026,455)
Change in fair value of mortgage servicing rights, mortgage servicing liabilities and excess servicing spread	113,842	1,225,844
Mortgage servicing rights hedging gains	351,033	(1,020,806)
Capitalization of interest and advance on loans held for sale	(1,925)	(33,198)
Amortization debt issuance cost	13,977	5,565
Results of real estate acquired in settlement of loans	(1,320)	411
Stock based compensation expense	19,771	19,125
(Reversal of) Provision for servicing advance losses	(33,590)	34,061
Impairment of capitalized software	728
Depreciation and amortization	14,967	10,725
Amortization of right-to-use assets	6,918	6,017
Origination of loans held for sale	(27,731,285)	(11,820,127)
Purchase of loans held for sale from non-affiliates	(2,664,336)	(1,461,210)
Purchase of loans from Ginnie Mae securities and early buyout investors	(11,562,768)	(2,995,791)
Sale to non-affiliates and principal payments of loans held for sale	79,007,900	40,526,005
Repurchase of loans subject to representations and warranties	(43,914)	(34,518)
Sale of real estate acquired in settlement of loans	9,503	19,559
Decrease in servicing advances	12,543	2,411
Decrease (increase) in other assets	63,006	(132,288)
Increase in accounts payable and accrued expenses	61,121	39,792
Decrease in operating lease liabilities	(8,265)	(6,888)
Net cash used in operating activities	1,331,598	365,597
Cash flow from investing activities
Decrease in short-term investments	11,497	66,865
Net settlement of derivative financial instruments used for hedging of mortgage servicing rights	(345,621)	995,223
Purchase of mortgage servicing rights		(24,707)
Purchase of furniture, fixtures, equipment and leasehold improvements	(5,049)	(3,472)
Acquisition of capitalized software	(21,594)	(33,270)
Decrease (increase) in margin deposits	134,666	(31,913)
Net cash (used in) provided by investing activities	(145,239)	986,137
Cash flow from financing activities
Sale of assets under agreements to repurchase	69,437,269	39,561,048
Repurchase of assets sold under agreements to repurchase	(70,839,012)	(39,933,232)
Issuance of mortgage loan participation purchase and sale certificates	12,508,356	11,548,130
Repayment of mortgage loan participation purchase and sale certificates	(12,517,580)	(11,509,683)
Repayments of obligations under capital lease	(4,187)	(4,061)
Issuance of unsecured senior notes	650,000
Repayment of excess servicing spread financing	(134,624)	(17,430)
Payment of debt issuance costs	(18,648)	(14,240)
Issuance of common stock pursuant to exercise of stock options	3,397	5,631
Payment of withholding taxes relating to stock-based compensation	(8,546)	(5,265)
Payment of dividend to holders of common stock	(27,940)	(19,538)
Repurchase of common stock	(443,439)	(241,283)
Net cash used in financing activities	(1,394,954)	(629,923)
Net (decrease) increase in cash and restricted cash	(208,595)	721,811
Cash and restricted cash at beginning of period	532,781	188,578
Cash and restricted cash at end of period	324,186	910,389
Cash	324,158	910,257
Restricted cash included in Other assets	28	132
PMT
Adjustments to reconcile net income to net cash used in operating activities:
Accrual of interest on excess servicing spread financing payable to PennyMac Mortgage Investment Trust	1,280	4,346
Change in fair value of investment in common shares of PennyMac Mortgage Investment Trust	(475)	362
Purchase of loans held for sale from PennyMac Mortgage Investment Trust	(35,474,697)	(26,112,503)
Sale to Penny Mac Mortgage Investment Trust of loans held for sale		2,248,869
Decrease (increase) in receivable from affiliates	18,058	(171)
Decrease in payable to affiliate	(28,584)	(24,761)
Payments to exchanged Private National Mortgage Acceptance Company, LLC unitholders under tax receivable agreement	(3,350)
(Decrease) increase in income taxes payable	(52,648)	232,301
Cash flow from investing activities
Net change in assets purchased from PMT under agreement to resell	$ 80,862	$ 17,411