Related Party Transactions (Tables) - PennyMac Mortgage Investment Trust

6 Months Ended

Jun. 30, 2022

Transactions with Affiliates

Summary of lending activity between the Company and affiliate

	Quarter ended June 30,				Six months ended June 30,
	2022		2021		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)	$	(1,429)	$	—	$	(2,820)	$	—
Mortgage servicing rights and excess servicing spread recapture incurred		(3,323)		(11,548)		(11,584)		(25,796)
	$	(4,752)	$	(11,548)	$	(14,404)	$	(25,796)
Sale of loans held for sale to PMT	$	39,824	$	—	$	298,862	$	—
Tax service fees earned from PMT included in Loan origination fees	$	2,404	$	7,128	$	4,746	$	15,320
Fulfillment fee revenue	$	20,646	$	54,020	$	37,400	$	114,855
Unpaid principal balance ("UPB") of loans fulfilled for PMT subject to fulfillment fees	$	10,323,700	$	30,479,292	$	20,092,962	$	64,241,132
Sourcing fees included in cost of loans purchased from PMT	$	1,063	$	1,630	$	2,359	$	3,368
Unpaid principal balance of loans purchased from PMT	$	10,634,209	$	16,297,216	$	23,381,988	$	33,856,791

Summary of loan servicing fees earned from PMT

	Quarter ended June 30,				Six months ended June 30,
	2022		2021		2022		2021
	(in thousands)
Loan type serviced:
Loans acquired for sale	$	258	$	630	$	522	$	1,173
Loans at fair value		106		80		316		217
Mortgage servicing rights		19,971		19,305		40,585		37,718
	$	20,335	$	20,015	$	41,423	$	39,108

Summary of management fees earned

	Quarter ended June 30,				Six months ended June 30,
	2022		2021		2022		2021
	(in thousands)
Base management	$	7,910	$	8,648	$	16,027	$	17,097
Performance incentive		—		3,265		—		3,265
	$	7,910	$	11,913	$	16,027	$	20,362

Summary of reimbursement of expenses

	Quarter ended June 30,				Six months ended June 30,
	2022		2021		2022		2021
	(in thousands)
Reimbursement of:
Expenses incurred on PMT's behalf, net	$	2,834	$	7,804	$	8,191	$	9,140
Common overhead incurred by the Company		1,809		1,268		3,673		1,839
Compensation		165		165		330		330
	$	4,808	$	9,237	$	12,194	$	11,309
Payments and settlements during the period (1)	$	29,562	$	74,441	$	69,326	$	187,182

(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 June 30,				Six months ended June 30,
	2022		2021		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	$	(194)	$	144	$	(192)	$	545

	June 30,		December 31,
	2022		2021
	(in thousands)
Common shares of beneficial interest of PennyMac Mortgage Investment Trust:
Fair value	$	1,037	$	1,300
Number of shares		75		75

Summary of financing activity between the Company and affiliate

		Six months ended
	June 30, 2021
	(in thousands)
Excess servicing spread financing:
Balance at beginning of period	$	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 period	$	—
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

	June 30,		December 31,
	2022		2021
	(in thousands)
Receivable from PMT:
Allocated expenses and expenses incurred on PMT's behalf	$	12,053	$	15,431
Fulfillment fees		10,511		—
Management fees		7,910		8,918
Servicing fees		6,725		6,848
Correspondent production fees		6,035		8,894
	$	43,234	$	40,091
Payable to PMT:
Amounts advanced by PMT to fund its servicing advances	$	95,409	$	212,066
Other		3,582		15,953
	$	98,991	$	228,019