Year ended December 31,

2022

2021

2020

(in thousands)

Interest income:

From non-affiliates:

Cash and short-term investments

$

19,839

$

3,280

$

6,154

Loans held for sale at fair value

172,124

275,176

184,789

Placement fees relating to custodial funds

102,099

21,326

52,758

294,062

299,782

243,701

From PennyMac Mortgage Investment Trust—Assets purchased from PennyMac Mortgage Investment Trust under agreements to resell

—

387

3,325

294,062

300,169

247,026

Interest expense:

To non-affiliates:

Assets sold under agreements to repurchase

105,459

164,132

112,778

Mortgage loan participation purchase and sale agreements

7,314

4,153

4,933

Notes payable secured by mortgage servicing assets

79,813

39,782

46,222

Unsecured senior notes

95,014

70,208

8,774

Obligations under capital lease

20

169

425

Corporate revolving line of credit

—

1,537

Interest shortfall on repayments of mortgage loans serviced for Agency securitizations

40,741

105,430

82,285

Interest on mortgage loan impound deposits

7,066

5,545

6,179

335,427

389,419

263,133

To PennyMac Mortgage Investment Trust—Excess servicing spread financing at fair value

—

1,280

8,418

335,427

390,699

271,551

$

(41,365)

$

(90,530)

$

(24,525)