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CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Net gains on loans held for sale at fair value:        
Net gains on loans held for sale at fair value $ 256,819 $ 151,374 $ 595,324 $ 397,178
Loan origination fees 49,430 37,701 127,876 108,059
Fulfillment fees from PennyMac Mortgage Investment Trust 11,492 5,531 19,935 22,895
Loan servicing fees:        
Loan servicing fees 462,037 387,934 1,326,917 1,082,462
Change in fair value of mortgage servicing rights and mortgage servicing liabilities (628,258) 221,096 (758,158) (70,608)
Mortgage servicing rights hedging results 242,051 (423,656) (224,371) (531,565)
Change in fair value of mortgage servicing rights and mortgage-backed securities (386,207) (202,560) (982,529) (602,173)
Net loan servicing fees 75,830 185,374 344,388 480,289
Management fees from PennyMac Mortgage Investment Trust 7,153 7,175 21,474 21,510
Net interest income (expense):        
Interest income 225,470 166,552 582,707 467,982
Interest expense 217,597 156,863 591,237 467,276
Net interest income (expense) 7,873 9,689 (8,530) 706
Change in fair value of investment in and dividends received from PennyMac Mortgage Investment Trust 68 (51) 38 91
Results of real estate acquired in settlement of loans (269) 637 330 978
Other 3,438 2,878 22,786 8,011
Total net revenues 411,834 400,308 1,123,621 1,039,717
Expenses        
Compensation 171,316 156,909 459,648 441,826
Loan origination 45,208 28,889 116,046 87,621
Technology 37,059 39,000 108,716 110,282
Servicing 28,885 13,242 67,909 40,526
Professional services 9,339 11,942 28,005 50,837
Occupancy and equipment 8,156 8,900 24,725 27,786
Marketing and advertising 5,088 4,632 14,204 13,451
Other 12,858 9,997 32,706 29,527
Total expenses 317,909 273,511 851,959 801,856
Income before provision for income taxes 93,925 126,797 271,662 237,861
Provision for income taxes 24,557 33,927 64,728 56,363
Net income $ 69,368 $ 92,870 $ 206,934 $ 181,498
Earnings per share        
Basic (in dollars per share) $ 1.36 $ 1.86 $ 4.07 $ 3.63
Diluted (in dollars per share) $ 1.30 $ 1.77 $ 3.88 $ 3.44
Weighted-average shares outstanding        
Basic (in shares) 51,180 49,902 50,895 49,975
Diluted (in shares) 53,495 52,561 53,274 52,735
Related Party        
Net gains on loans held for sale at fair value:        
Net gains on loans held for sale at fair value $ 2,506 $ (500) $ 1,680 $ (1,494)
Loan origination fees 1,107 579 1,897 2,690
Nonrelated Party        
Net gains on loans held for sale at fair value:        
Net gains on loans held for sale at fair value 254,313 151,874 593,644 398,672
Loan origination fees 48,323 37,122 125,979 105,369
Net interest income (expense):        
Interest expense 217,597 156,863 591,237 467,276
Non-affiliates | Nonrelated Party        
Loan servicing fees:        
Loan servicing fees 393,457 328,049 1,126,523 925,865
PennyMac Mortgage Investment Trust | Related Party        
Net gains on loans held for sale at fair value:        
Net gains on loans held for sale at fair value 256,819 151,374 595,324 397,178
Loan servicing fees:        
Loan servicing fees 22,240 20,257 62,766 61,023
Net interest income (expense):        
Change in fair value of investment in and dividends received from PennyMac Mortgage Investment Trust 68 (51) 38 91
Others | Nonrelated Party        
Loan servicing fees:        
Loan servicing fees $ 46,340 $ 39,628 $ 137,628 $ 95,574