Net Gains on Loans Held for Sale (Tables)

3 Months Ended

Mar. 31, 2022

Net Gains on Loans Held for Sale

Net Gains on Loans Held for Sale

	Quarter ended March 31,
	2022		2021
	(in thousands)
From non-affiliates:
Cash (loss) gains:
Loans	$	(944,221)	$	82,712
Hedging activities		890,087		736,225
		(54,134)		818,937
Non-cash gains:
Mortgage servicing rights and mortgage servicing liabilities resulting from loan sales		616,302		463,571
Provisions for losses relating to representations and warranties:
Pursuant to loan sales		(4,054)		(10,053)
Reductions in liability due to change in estimate		3,169		3,685
Changes in fair values of loans and derivatives held at quarter end:
Interest rate lock commitments		(284,294)		(339,086)
Loans		220,430		105,222
Hedging derivatives		(189,308)		(273,687)
		308,111		768,589
From PennyMac Mortgage Investment Trust (1)		(9,652)		(14,248)
	$	298,459	$	754,341