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Concentration of Risk
3 Months Ended
Mar. 31, 2023
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, management fees, change in fair value of investment in and dividends received from PMT, and expense allocations charged to PMT) totaled 14% and 6% of total net revenue for the quarters ended March 31, 2023 and 2022, respectively. The Company also purchased 84% and 55% of its newly originated loan production from PMT during the quarters ended March 31, 2023 and 2022, respectively.