Related Party Transactions (Tables) - PennyMac Mortgage Investment Trust

3 Months Ended

Mar. 31, 2022

Transactions with Affiliates

Summary of lending activity between the Company and affiliate

	Quarter ended March 31,
	2022		2021
	(in thousands)
Net gains on loans held for sale at fair value:
Net losses on loans held for sale to PMT (primarily cash)	$	(1,391)	$	—
Mortgage servicing rights and excess servicing spread recapture incurred		(8,261)		(14,248)
	$	(9,652)	$	(14,248)
Sale of loans held for sale to PMT	$	259,038	$	—
Tax service fees earned from PMT included in Loan origination fees	$	2,342	$	8,192
Fulfillment fee revenue	$	16,754	$	60,835
Unpaid principal balance ("UPB") of loans fulfilled for PMT subject to fulfillment fees	$	9,769,262	$	33,761,841
Sourcing fees included in cost of loans purchased from PMT	$	1,296	$	1,738
Unpaid principal balance of loans purchased from PMT	$	12,747,779	$	17,559,575

Summary of loan servicing fees earned from PMT

	Quarter ended March 31,
	2022		2021
	(in thousands)
Loan type serviced:
Loans acquired for sale	$	264	$	543
Loans at fair value		210		137
Mortgage servicing rights		20,614		18,413
	$	21,088	$	19,093

Summary of management fees earned

	Quarter ended March 31,
	2022		2021
	(in thousands)
Base management	$	8,117	$	8,449
Performance incentive		—		—
	$	8,117	$	8,449

Summary of reimbursement of expenses

	Quarter ended March 31,
	2022		2021
	(in thousands)
Reimbursement of:
Common overhead incurred by the Company	$	1,864	$	571
Compensation		165		165
Expenses incurred on PMT's behalf, net		5,357		1,336
	$	7,386	$	2,072
Payments and settlements during the quarter (1)	$	39,764	$	112,741

(1) Payments and settlements include payments for management fees and correspondent production activities itemized in the preceding tables and netting settlements made pursuant to master netting agreements between the Company and PMT.

Summary of investing activity between the Company and affiliate

	Quarter ended March 31,
	2022		2021
	(in thousands)
Interest income relating to Assets purchased from PennyMac Mortgage Investment Trust under agreements to resell	$	—	$	387
Change in fair value of investment in and dividends received from PennyMac Mortgage Investment Trust	$	2	$	401

Summary of financing activity between the Company and affiliate

		Quarter ended
	March 31, 2021
	(in thousands)
Excess servicing spread financing:
Balance at beginning of quarter	$	131,750
Issuance pursuant to recapture agreement		557
Accrual of interest		1,280
Change in fair value		1,037
Repayment		(134,624)
Balance at end of quarter	$	—
Recapture incurred pursuant to refinancings by the Company of mortgage loans subject to excess servicing spread financing included in Net gains on loans held for sale at fair value	$	614

Summary of amounts due from and payable to affiliate

	March 31,		December 31,
	2022		2021
	(in thousands)
Receivable from PMT:
Management fees	$	8,117	$	8,918
Servicing fees		7,136		6,848
Correspondent production fees		6,633		8,894
Fulfillment fees		2,472		—
Allocated expenses and expenses incurred on PMT's behalf		3,364		15,431
	$	27,722	$	40,091
Payable to PMT:
Amounts advanced by PMT to fund its servicing advances	$	138,906	$	212,066
Other		20,562		15,953
	$	159,468	$	228,019