Related Party Transactions (Tables) - PennyMac Mortgage Investment Trust

9 Months Ended

Sep. 30, 2022

Transactions with Affiliates

Summary of lending activity between the Company and affiliate

	Quarter ended September 30,				Nine months ended September 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)	$	—	$	—	$	(2,820)	$	—
Mortgage servicing rights and excess servicing spread recapture incurred		(1,648)		(12,976)		(13,232)		(38,772)
	$	(1,648)	$	(12,976)	$	(16,052)	$	(38,772)
Sale of loans held for sale to PMT	$	—	$	—	$	298,862	$	—
Tax service fees earned from PMT included in Loan origination fees	$	2,192	$	6,541	$	6,938	$	21,861
Fulfillment fee revenue	$	18,407	$	43,922	$	55,807	$	158,777
Unpaid principal balance ("UPB") of loans fulfilled for PMT subject to fulfillment fees	$	10,226,513	$	28,605,098	$	30,319,475	$	92,846,231
Sourcing fees included in cost of loans purchased from PMT	$	1,203	$	1,537	$	3,562	$	4,905
Unpaid principal balance of loans purchased from PMT	$	12,261,222	$	15,249,441	$	35,643,210	$	49,106,232

Summary of loan servicing fees earned from PMT

	Quarter ended September 30,				Nine months ended September 30,
Loan type serviced	2022		2021		2022		2021
	(in thousands)
Loans acquired for sale	$	258	$	698	$	780	$	1,871
Loans at fair value		111		89		427		306
Mortgage servicing rights		19,878		19,916		60,463		57,634
	$	20,247	$	20,703	$	61,670	$	59,811

Summary of management fees earned

	Quarter ended September 30,				Nine months ended September 30,
	2022		2021		2022		2021
	(in thousands)
Base management	$	7,731	$	8,778	$	23,758	$	25,875
Performance incentive (adjustment)		—		(258)		—		3,007
	$	7,731	$	8,520	$	23,758	$	28,882

Summary of reimbursement of expenses

	Quarter ended September 30,				Nine months ended September 30,
	2022		2021		2022		2021
	(in thousands)
Reimbursement of:
Expenses incurred on PMT's behalf, net	$	705	$	4,396	$	8,896	$	13,536
Common overhead incurred by the Company		2,574		1,548		6,247		3,387
Compensation		165		165		495		495
	$	3,444	$	6,109	$	15,638	$	17,418
Payments and settlements during the period (1)	$	41,509	$	51,020	$	110,835	$	238,202

(1) Payments and settlements include payments for the operating, investing and financing activities itemized in this Note.

Summary of investing activity between the Company and affiliate

	Quarter ended September 30,				Nine months ended September 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	$	(119)	$	(67)	$	(311)	$	478

	September 30,		December 31,
	2022		2021
	(in thousands)
Common shares of beneficial interest of PennyMac Mortgage Investment Trust:
Fair value	$	884	$	1,300
Number of shares		75		75

Summary of financing activity between the Company and affiliate

	Nine months ended
	September 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

	September 30,		December 31,
	2022		2021
	(in thousands)
Receivable from PMT:
Management fees	$	7,731	$	8,918
Correspondent production fees		6,812		8,894
Servicing fees		6,711		6,848
Allocated expenses and expenses incurred on PMT's behalf		5,571		15,431
Fulfillment fees		5,481		—
	$	32,306	$	40,091
Payable to PMT:
Amounts advanced by PMT to fund its servicing advances	$	84,418	$	212,066
Other		3,560		15,953
	$	87,978	$	228,019