Segments (Tables)

12 Months Ended

Dec. 31, 2022

Segments

Summary of financial highlights by segment

	Year ended December 31, 2022
	Mortgage Banking						Investment
	Production		Servicing		Total		Management		Total
	(in thousands)
Revenues: (1)
Net gains on loans held for sale at fair value	$	599,896	$	191,737	$	791,633	$	—	$	791,633
Loan origination fees		169,859		—		169,859		—		169,859
Fulfillment fees from PennyMac Mortgage Investment Trust		67,991		—		67,991		—		67,991
Net loan servicing fees		—		951,329		951,329		—		951,329
Net interest income (expense):
Interest income		133,000		161,062		294,062		—		294,062
Interest expense		108,072		227,355		335,427		—		335,427
		24,928		(66,293)		(41,365)		—		(41,365)
Management fees		—		—		—		31,065		31,065
Other		2,503		3,727		6,230		9,013		15,243
Total net revenue		865,177		1,080,500		1,945,677		40,078		1,985,755
Expenses		816,697		466,874		1,283,571		36,937		1,320,508
Income before provision for income taxes	$	48,480	$	613,626	$	662,106	$	3,141	$	665,247
Segment assets at year end	$	3,866,934	$	12,929,233	$	16,796,167	$	26,417	$	16,822,584

(1) All revenues are from external customers.

	Year ended December 31, 2021
	Mortgage Banking						Investment
	Production		Servicing		Total		Management		Total
	(in thousands)
Revenues: (1)
Net gains on loans held for sale at fair value	$	1,746,650	$	717,751	$	2,464,401	$	—	$	2,464,401
Loan origination fees		384,154		—		384,154		—		384,154
Fulfillment fees from PennyMac Mortgage Investment Trust		178,927		—		178,927		—		178,927
Net loan servicing fees		—		182,954		182,954		—		182,954
Net interest income (expense):
Interest income		134,706		165,463		300,169		—		300,169
Interest expense		139,296		251,393		390,689		10		390,699
		(4,590)		(85,930)		(90,520)		(10)		(90,530)
Management fees		—		—		—		37,801		37,801
Other		1,623		2,520		4,143		5,511		9,654
Total net revenue		2,306,764		817,295		3,124,059		43,302		3,167,361
Expenses		1,262,353		510,617		1,772,970		35,208		1,808,178
Income before provision for income taxes	$	1,044,411	$	306,678	$	1,351,089	$	8,094	$	1,359,183
Segment assets at year end	$	8,934,032	$	9,821,436	$	18,755,468	$	21,144	$	18,776,612

(1) All revenues are from external customers.

	Year ended December 31, 2020
	Mortgage Banking						Investment
	Production		Servicing		Total		Management		Total
	(in thousands)
Revenues: (1)
Net gains on loans held for sale at fair value	$	2,297,108	$	443,677	$	2,740,785	$	—	$	2,740,785
Loan origination fees		285,551		—		285,551		—		285,551
Fulfillment fees from PennyMac Mortgage Investment Trust		222,200		—		222,200		—		222,200
Net loan servicing fees		—		439,448		439,448		—		439,448
Net interest income (expense):
Interest income		101,605		145,421		247,026		—		247,026
Interest expense		82,160		189,368		271,528		23		271,551
		19,445		(43,947)		(24,502)		(23)		(24,525)
Management fees		—		—		—		34,538		34,538
Other		695		1,584		2,279		5,321		7,600
Total net revenue		2,824,999		840,762		3,665,761		39,836		3,705,597
Expenses		860,878		578,618		1,439,496		25,492		1,464,988
Income before provision for income taxes	$	1,964,121	$	262,144	$	2,226,265	$	14,344	$	2,240,609
Segment assets at year end	$	7,870,398	$	23,709,122	$	31,579,520	$	18,275	$	31,597,795

(1) All revenues are from external customers.