Net Interest Expense (Tables)

6 Months Ended

Jun. 30, 2022

Net Interest Expense

Summary of net interest (expense) income

	Quarter ended June 30,				Six months ended June 30,
	2022		2021		2022		2021
	(in thousands)
Interest income:
From non-affiliates:
Cash and short-term investments	$	405	$	747	$	977	$	1,734
Loans held for sale at fair value		36,777		76,453		85,890		151,277
Placement fees relating to custodial funds		12,682		3,597		16,879		9,480
		49,864		80,797		103,746		162,491
From PennyMac Mortgage Investment Trust—Assets purchased from PennyMac Mortgage Investment Trust under agreements to resell		—		—		—		387
		49,864		80,797		103,746		162,878
Interest expense:
To non-affiliates:
Assets sold under agreements to repurchase		18,949		44,623		42,719		96,802
Mortgage loan participation purchase and sale agreements		1,377		1,039		2,497		2,134
Obligations under capital lease		5		48		20		107
Notes payable secured by mortgage servicing assets		13,656		10,104		23,565		19,992
Unsecured senior notes		23,688		16,169		47,116		28,839
Interest shortfall on repayments of mortgage loans serviced for Agency securitizations		12,286		29,144		29,765		58,580
Interest on mortgage loan impound deposits		1,166		1,304		2,752		2,410
		71,127		102,431		148,434		208,864
To PennyMac Mortgage Investment Trust—Excess servicing spread financing at fair value		—		—		—		1,280
		71,127		102,431		148,434		210,144
	$	(21,263)	$	(21,634)	$	(44,688)	$	(47,266)