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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Net gains on loans held for sale at fair value:        
Net gains on loans held for sale at fair value $ 168,694 $ 626,754 $ 689,720 $ 1,963,743
Loan origination fees 34,037 94,581 141,840 295,909
Fulfillment fees from PennyMac Mortgage Investment Trust 18,407 43,922 55,807 158,777
Loan servicing fees        
Loan servicing fees 313,080 267,758 906,688 787,224
Change in fair value of mortgage servicing rights and mortgage servicing liabilities 95,411 (147,669) 420,424 (260,474)
Changes in fair value included in income       (1,037)
Mortgage servicing rights hedging results (164,749) (86,459) (558,614) (437,492)
Change in fair value of excess servicing spread financing payable to PennyMac Mortgage Investment Trust (69,338) (234,128) (138,190) (699,003)
Net loan servicing fees 243,742 33,630 768,498 88,221
Interest income:        
Interest income 82,994 68,312 186,740 231,190
Interest expense:        
Interest expense 82,965 90,711 231,399 300,855
Net interest income (expense) 29 (22,399) (44,659) (69,665)
Management fees, net:        
Management fees from PennyMac Mortgage Investment Trust 7,731 8,520 23,758 28,882
Change in fair value of investment in and dividends received from PennyMac Mortgage Investment Trust (119) (67) (311) 478
Result of real estate acquired in settlement of loans 528 378 1,881 1,698
Other 3,241 1,293 8,775 5,507
Total net revenue 476,290 786,612 1,645,309 2,473,550
Expenses        
Compensation 157,793 249,183 601,532 773,079
Loan origination 28,356 80,932 148,620 243,999
Technology 35,647 32,406 105,054 100,314
Professional services 16,230 24,429 57,126 62,549
Marketing and advertising 7,601 11,360 43,011 28,238
Occupancy and equipment 11,299 9,389 30,139 27,456
Servicing 20,399 27,892 22,204 78,365
Other 13,493 11,472 40,105 34,478
Total expenses 290,818 447,063 1,047,791 1,348,478
Income before provision for income taxes 185,472 339,549 597,518 1,125,072
Provision for income taxes 50,338 90,239 159,628 294,665
Net income attributable to PennyMac Financial Services, Inc. common stockholders $ 135,134 $ 249,310 $ 437,890 $ 830,407
Earnings per share        
Basic (in dollars per share) $ 2.59 $ 4.02 $ 8.10 $ 12.65
Diluted (in dollars per share) $ 2.46 $ 3.80 $ 7.69 $ 11.98
Weighted-average shares outstanding        
Basic (in shares) 52,170 62,085 54,043 65,671
Diluted (in shares) 54,968 65,652 56,913 69,341
Non-affiliates        
Net gains on loans held for sale at fair value:        
Net gains on loans held for sale at fair value $ 170,342 $ 639,730 $ 705,772 $ 2,002,515
Loan origination fees 31,845 88,040 134,902 274,048
Loan servicing fees        
Loan servicing fees 270,336 216,592 774,483 635,620
Interest income:        
Interest income 82,994 68,312 186,740 230,803
Interest expense:        
Interest expense 82,965 90,711 231,399 299,575
PennyMac Mortgage Investment Trust        
Net gains on loans held for sale at fair value:        
Net gains on loans held for sale at fair value (1,648) (12,976) (16,052) (38,772)
Loan origination fees 2,192 6,541 6,938 21,861
Loan servicing fees        
Loan servicing fees 20,247 20,703 61,670 59,811
Interest income:        
Interest income       387
Interest expense:        
Interest expense       1,280
Others        
Loan servicing fees        
Loan servicing fees $ 22,497 $ 30,463 $ 70,535 $ 91,793