Concentration of Risk	9 Months Ended
Sep. 30, 2022
Concentration of Risk
Concentration of Risk	Note 3—Concentration of Risk A portion of the Company’s activities relate to PMT. Revenues generated from PMT (generally comprised of gains on loans held for sale, loan origination and fulfillment fees, loan servicing fees, change in fair value of excess servicing spread financing (“ESS”), net interest, management fees, change in fair value of investment in and dividends received from PMT, and expense allocations charged to PMT) totaled 10% and 9% of total net revenue for the quarters ended September 30, 2022 and 2021, respectively, and 8% and 9% for the nine months ended September 30, 2022 and 2021, respectively. The Company also purchased 78% and 51% of its newly originated loan production from PMT during the quarters ended September 30, 2022 and 2021, respectively, and 65% and 53% during the nine months ended September 30, 2022 and 2021, respectively.

Concentration of Risk

9 Months Ended

Sep. 30, 2022

Note 3—Concentration of Risk

A portion of the Company’s activities relate to PMT. Revenues generated from PMT (generally comprised of gains on loans held for sale, loan origination and fulfillment fees, loan servicing fees, change in fair value of excess servicing spread financing (“ESS”), net interest, management fees, change in fair value of investment in and dividends received from PMT, and expense allocations charged to PMT) totaled 10% and 9% of total net revenue for the quarters ended September 30, 2022 and 2021, respectively, and 8% and 9% for the nine months ended September 30, 2022 and 2021, respectively. The Company also purchased 78% and 51% of its newly originated loan production from PMT during the quarters ended September 30, 2022 and 2021, respectively, and 65% and 53% during the nine months ended September 30, 2022 and 2021, respectively.