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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Net gains on loans held for sale at fair value:      
Net gains on loans held for sale to non-affiliates $ 2,515,874 $ 2,690,104 $ 542,163
Net gains on loans held for sale at fair value 2,464,401 2,740,785 725,528
Loan origination fees from non-affiliates 358,028 262,143 159,461
Loan origination fees 384,154 285,551 174,156
Loan servicing fees      
From non-affiliates 875,570 814,646 730,165
Other 118,884 116,464 98,564
Loan servicing fees 1,075,112 998,291 877,526
Change in fair value of mortgage servicing rights and mortgage servicing liabilities 415,906 1,501,993 988,614
Mortgage servicing rights hedging results (475,215) 918,180 395,497
Change in fair value of excess servicing spread payable to PennyMac Mortgage Investment Trust (892,158) (558,843) (583,861)
Net loan servicing fees 182,954 439,448 293,665
Interest income:      
From non-affiliates 299,782 243,701 282,398
Interest income 300,169 247,026 288,700
Interest expense:      
To non-affiliates 389,419 263,133 201,688
Interest expense 390,699 271,551 211,979
Net interest (expense) income (90,530) (24,525) 76,721
Management fees, net:      
Management fees 37,801 34,538 36,492
Result of real estate acquired in settlement of loans 1,993 1,036 557
Repricing of payable to exchanged Private National Mortgage Acceptance Company , LLC unitholders under tax receivable agreement   280 379
Other 7,325 6,737 8,880
Total net revenue 3,167,361 3,705,597 1,477,404
Expenses      
Compensation 999,802 738,569 503,458
Loan origination 330,788 219,746 117,338
Technology 141,426 112,570 67,946
Servicing 109,835 256,934 164,697
Professional services 94,283 64,064 32,859
Marketing and advertising 44,806 8,658 5,165
Occupancy and equipment 35,810 33,357 28,916
Other 51,428 31,090 27,581
Total expenses 1,808,178 1,464,988 947,960
Income before provision for income taxes 1,359,183 2,240,609 529,444
Provision for income taxes 355,693 593,725 136,479
Net income attributable to PennyMac Financial Services, Inc. common stockholders $ 1,003,490 $ 1,646,884 $ 392,965
Earnings per share      
Basic (in dollars per share) $ 15.73 $ 21.91 $ 5.02
Diluted (in dollars per share) $ 14.87 $ 20.92 $ 4.89
Weighted-average shares outstanding      
Basic (in shares) 63,799 75,161 78,206
Diluted (in shares) 67,471 78,728 80,340
PennyMac Mortgage Investment Trust      
Net gains on loans held for sale at fair value:      
Net gains on loans held for sale to PennyMac Mortgage Investment Trust $ (51,473) $ 50,681 $ 183,365
Loan origination fees from PennyMac Mortgage Investment Trust 26,126 23,408 14,695
Fulfillment fees from PennyMac Mortgage Investment Trust 178,927 222,200 160,610
Loan servicing fees      
Loan servicing fees from affiliates 80,658 67,181 48,797
Changes in fair value included in income (1,037) 24,970 9,256
Interest income:      
From PennyMac Mortgage Investment Trust 387 3,325 6,302
Interest expense:      
To PennyMac Mortgage Investment Trust 1,280 8,418 10,291
Management fees, net:      
Management fees 37,801 34,538 36,492
Change in fair value of investment in and dividends received from affiliate $ 336 $ (453) $ 416