Net Gains on Loans Held for Sale (Tables)

6 Months Ended

Jun. 30, 2022

Net Gains on Loans Held for Sale

Net Gains on Loans Held for Sale

	Quarter ended June 30,				Six months ended June 30,
	2022		2021		2022		2021
	(in thousands)
From non-affiliates:
Cash (losses) gains:
Loans	$	(451,171)	$	387,305	$	(1,395,392)	$	470,017
Hedging activities		82,617		(325,651)		972,704		410,574
		(368,554)		61,654		(422,688)		880,591
Non-cash gains:
Mortgage servicing rights and mortgage servicing liabilities resulting from loan sales		398,253		425,941		1,014,555		889,512
Provisions for losses relating to representations and warranties:
Pursuant to loan sales		(2,182)		(10,304)		(6,236)		(20,357)
Reductions in liability due to change in estimate		2,227		3,640		5,396		7,325
Changes in fair values of loans and derivatives held at period end:
Interest rate lock commitments		27,251		5,670		(257,043)		(333,416)
Loans		(43,349)		(50,322)		177,081		54,900
Hedging derivatives		213,673		157,917		24,365		(115,770)
		227,319		594,196		535,430		1,362,785
From PennyMac Mortgage Investment Trust (1)		(4,752)		(11,548)		(14,404)		(25,796)
	$	222,567	$	582,648	$	521,026	$	1,336,989