Transactions with Related Parties (Tables)

12 Months Ended

Dec. 31, 2024

Transactions with Affiliates

Summary of activity in Payable to exchanged Private National Mortgage Acceptance Company, LLC unitholders under tax receivable agreement

	Year ended December 31,
	2024		2023		2022
	(in thousands)
Activity during the year:
Payments under tax receivable agreement	$	—	$	—	$	3,855
Repricing of liability	$	(201)	$	—	$	(576)
Balance at end of year	$	25,898	$	26,099	$	26,099

Related Party | PennyMac Mortgage Investment Trust

Transactions with Affiliates

Summary of lending activity between the Company and affiliate

	Year ended December 31,
	2024		2023		2022
	(in thousands)
Net gains (losses) on loans held for sale at fair value:
Net gains (losses) on loans sold to PMT (primarily cash)	$	6,260	$	—	$	(2,820)
Mortgage servicing rights recapture incurred		(2,193)		(1,784)		(13,744)
	$	4,067	$	(1,784)	$	(16,564)
Sale of loans held for sale to PMT	$	662,952	$	—	$	298,862
UPB of loans recaptured	$	353,710	$	315,412	$	2,533,115
Tax service fees earned from PMT included in Loan origination fees	$	2,503	$	3,216	$	8,418
Fulfillment fee revenue	$	26,291	$	27,826	$	67,991
Unpaid principal balance of loans fulfilled for PMT subject to fulfillment fees	$	13,446,484	$	14,898,301	$	37,090,031
Sourcing fees included in cost of loans purchased from PMT	$	8,069	$	7,162	$	4,968
Unpaid principal balance of loans purchased from PMT:
Government guaranteed or insured	$	40,838,480	$	40,476,782	$	45,768,110
Conventional conforming		39,856,056		31,141,915		3,912,157
	$	80,694,536	$	71,618,697	$	49,680,267

Summary of loan servicing fees earned from PMT

	Year ended December 31,
Servicing portfolio	2024		2023		2022
	(in thousands)
Prime servicing	$	83,173	$	81,139	$	81,386
Special servicing		79		208		529
	$	83,252	$	81,347	$	81,915

Summary of management fees earned

	Year ended December 31,
	2024		2023		2022
	(in thousands)
Base management	$	28,623	$	28,762	$	31,065
Performance incentive		—		—		—
	$	28,623	$	28,762	$	31,065
Average PMT's shareholders' equity used to calculate base management fees	$	1,908,287	$	1,917,642	$	2,079,851

Summary of reimbursement of expenses

	Year ended December 31,
	2024		2023		2022
	(in thousands)
Reimbursement of:
Expenses incurred on PMT's behalf, net	$	20,871	$	21,468	$	23,829
Common overhead incurred by the Company		7,909		7,492		8,588
Compensation		660		660		660
	$	29,440	$	29,620	$	33,077
Payments and settlements during the year (1)	$	118,167	$	94,339	$	144,012

(1) Payments and settlements include payments for the operating, investing and financing activities summarized in this note and netting settlements made pursuant to master netting agreements between the Company and PMT.

Summary of investing activity between the Company and affiliate

	Year ended December 31,
	2024		2023		2022
	(in thousands)
Activity during the year:
Dividends from PennyMac Mortgage Investment Trust	$	120	$	120	$	136
Change in fair value of investment in PennyMac Mortgage Investment Trust		(177)		192		(371)
Dividends received and change in fair value	$	(57)	$	312	$	(235)
Balance at end of year:
Fair value	$	944	$	1,121
Number of shares		75		75

Summary of amounts due from and payable to affiliate

	December 31,
	2024		2023
	(in thousands)
Receivable from PMT:
Correspondent production fees	$	11,122	$	8,288
Management fees		7,149		7,252
Servicing fees		6,822		6,809
Allocated expenses and expenses incurred on PMT's behalf		3,508		5,612
Fulfillment fees		1,605		1,301
	$	30,206	$	29,262
Payable to PMT:
Amounts advanced by PMT to fund its servicing advances	$	106,302	$	208,154
Other		16,015		56
	$	122,317	$	208,210