Loan Sales and Servicing Activities (Tables)

12 Months Ended

Dec. 31, 2021

Loan Sales and Servicing Activities

Summary of cash flows between the Company and transferees upon sale of loans in transactions

	Year ended December 31,
	2021		2020		2019
	(in thousands)
Cash flows:
Sales proceeds	$	154,450,942	$	102,840,312	$	61,214,102
Servicing fees received (1)	$	840,104	$	678,142	$	587,919

(1) Net of guarantee fees paid to the Agencies

Summary of sale of loans between the Company and transferees upon sale of loans in transactions

	December 31,
	2021		2020
	(in thousands)
UPB of loans outstanding	$	254,524,015	$	199,655,361
Delinquencies (1):
30-89 days	$	6,129,597	$	6,041,366
90 days or more:
Not in foreclosure	$	8,399,299	$	17,799,621
In foreclosure	$	715,016	$	581,683
Foreclosed	$	6,900	$	10,893
Bankruptcy	$	1,039,362	$	1,230,696
Delinquent loans in COVID-19 pandemic-related forbearance plans:
30-89 days	$	1,020,290	$	2,626,617
90 days or more		2,550,703		12,181,174
	$	3,570,993	$	14,807,791

(1) Includes delinquent loans in COVID-19 pandemic-related forbearance plans that were requested by borrowers seeking payment relief in accordance with the CARES Act.

Summary of servicing portfolio

	December 31, 2021
	Servicing				Total
	rights owned		Subservicing		loans serviced
	(in thousands)
Investor:
Non-affiliated entities:
Originated	$	254,524,015	$	—	$	254,524,015
Purchased		23,861,358		—		23,861,358
		278,385,373		—		278,385,373
PennyMac Mortgage Investment Trust		—		221,892,142		221,892,142
Loans held for sale		9,430,766		—		9,430,766
	$	287,816,139	$	221,892,142	$	509,708,281
Delinquent loans (1):
30 days	$	5,338,545	$	974,055	$	6,312,600
60 days		1,604,782		190,727		1,795,509
90 days or more:
Not in foreclosure		9,001,137		1,750,628		10,751,765
In foreclosure		829,494		43,793		873,287
Foreclosed		8,017		16,489		24,506
	$	16,781,975	$	2,975,692	$	19,757,667
Bankruptcy	$	1,261,980	$	133,655	$	1,395,635
Delinquent loans in COVID-19 pandemic-related forbearance plans:
30 days	$	554,161	$	81,580	$	635,741
60 days		556,990		89,534		646,524
90 days or more		2,732,089		638,703		3,370,792
	$	3,843,240	$	809,817	$	4,653,057
Custodial funds managed by the Company (2)	$	8,485,081	$	3,823,527	$	12,308,608

(1) Includes delinquent loans in COVID-19 pandemic-related forbearance plans that were requested by borrowers seeking payment relief in accordance with the CARES Act.

(2) Custodial funds are cash accounts holding funds on behalf of borrowers and investors relating to loans serviced under servicing agreements and are not recorded on the Company’s consolidated balance sheets. The Company earns placement fees on certain of the custodial funds it manages on behalf of the loans’ borrowers and investors. Placement fees are included in Interest income in the Company’s consolidated statements of income.

	December 31, 2020
	Servicing				Total
	rights owned		Subservicing		loans serviced
	(in thousands)
Investor:
Non-affiliated entities:
Originated	$	199,655,361	$	—	$	199,655,361
Purchased		41,612,940		—		41,612,940
		241,268,301		—		241,268,301
PennyMac Mortgage Investment Trust		—		174,418,591		174,418,591
Loans held for sale		11,063,938		—		11,063,938
	$	252,332,239	$	174,418,591	$	426,750,830
Delinquent loans (1):
30 days	$	5,217,949	$	901,965	$	6,119,914
60 days		2,393,267		348,416		2,741,683
90 days or more:
Not in foreclosure		21,781,226		4,473,217		26,254,443
In foreclosure		751,586		33,312		784,898
Foreclosed		12,938		37,131		50,069
	$	30,156,966	$	5,794,041	$	35,951,007
Bankruptcy	$	1,698,418	$	153,179	$	1,851,597
Delinquent loans in COVID-19 pandemic-related forbearance plans:
30 days	$	1,745,257	$	334,498	$	2,079,755
60 days		1,479,753		259,019		1,738,772
90 days or more		14,904,052		3,690,505		18,594,557
	$	18,129,062	$	4,284,022	$	22,413,084
Custodial funds managed by the Company (2)	$	10,660,517	$	6,086,725	$	16,747,242

(1) Includes delinquent loans in COVID-19 pandemic-related forbearance plans that were requested by borrowers seeking payment relief in accordance with the CARES Act.

(2) Custodial funds are cash accounts holding funds on behalf of borrowers and investors relating to loans serviced under servicing agreements and are not recorded on the Company’s consolidated balance sheets. The Company earns placement fees on certain of the custodial funds it manages on behalf of the loans’ borrowers and investors. Placement fees are included in Interest income in the Company’s consolidated statements of income.

Summary of the geographical distribution of loans for the top five and all other states as measured by the total unpaid principal balance (UPB)

	December 31,
State	2021		2020
	(in thousands)
California	$	67,317,935	$	60,591,363
Florida		45,222,233		35,360,190
Texas		42,064,686		34,591,419
Virginia		31,442,370		26,209,701
Maryland		23,922,075		19,974,809
All other states		299,738,982		250,023,348
	$	509,708,281	$	426,750,830