Variable Interest Entities	6 Months Ended
Jun. 30, 2024
Variable Interest Entities
Variable Interest Entities	Note 4—Variable Interest Entities The Company entered into securitization transactions in which variable interest entities (“VIEs”) may issue variable funding notes (VFNs”) and term debt backed by beneficial interests in Ginnie Mae and Fannie Mae MSRs. The Company is the holder of the VFNs and acts as guarantor of the VFNs and term debt. The Company determined that it is the primary beneficiary of the VIEs because as the holder of VFNs and guarantor of both the VFNs and term debt, it holds the variable interest in the VIEs. Therefore, PFSI consolidates the VIEs. For financial reporting purposes, the MSRs financed by the consolidated VIEs are included in Mortgage servicing rights at fair value, the VFNs that the Company sells under agreements to repurchase are included in Assets sold under agreements to repurchase, and the term debt is included in Notes payable secured by mortgage servicing assets on the Company’s consolidated balance sheets. This financing is detailed in Note 14 – Short-Term Debt and Note 15 – Long Term Debt.

Variable Interest Entities

6 Months Ended

Jun. 30, 2024

Note 4—Variable Interest Entities

The Company entered into securitization transactions in which variable interest entities (“VIEs”) may issue variable funding notes (VFNs”) and term debt backed by beneficial interests in Ginnie Mae and Fannie Mae MSRs. The Company is the holder of the VFNs and acts as guarantor of the VFNs and term debt. The Company determined that it is the primary beneficiary of the VIEs because as the holder of VFNs and guarantor of both the VFNs and term debt, it holds the variable interest in the VIEs. Therefore, PFSI consolidates the VIEs.

For financial reporting purposes, the MSRs financed by the consolidated VIEs are included in Mortgage servicing rights at fair value, the VFNs that the Company sells under agreements to repurchase are included in Assets sold under agreements to repurchase, and the term debt is included in Notes payable secured by mortgage servicing assets on the Company’s consolidated balance sheets. This financing is detailed in Note 14 – Short-Term Debt and Note 15 – Long Term Debt.