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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Net gains on loans held for sale at fair value:        
Net gains on loans held for sale at fair value $ 234,659 $ 176,064 $ 455,696 $ 338,505
Loan origination fees 59,091 42,075 105,702 78,446
Fulfillment fees from PennyMac Mortgage Investment Trust 5,814 4,427 11,104 8,443
Loan servicing fees:        
Servicing fees 506,667 440,696 995,135 864,880
Change in fair value of mortgage servicing rights and mortgage servicing liabilities (247,170) (101,315) (678,126) (129,900)
Mortgage servicing rights hedging results (109,102) (171,777) (2,328) (466,422)
Change in fair value of mortgage servicing rights and mortgage-backed securities (356,272) (273,092) (680,454) (596,322)
Net loan servicing fees 150,395 167,604 314,681 268,558
Management fees from PennyMac Mortgage Investment Trust 6,869 7,133 13,881 14,321
Net interest expense:        
Interest income 221,929 200,811 411,800 357,237
Interest expense 239,577 207,871 447,659 373,640
Net interest expense (17,648) (7,060) (35,859) (16,403)
Change in fair value of investment in and dividends received from PennyMac Mortgage Investment Trust (105) (40) 80 (30)
Results of real estate acquired in settlement of loans 47 193 (178) 599
Repricing of payable to exchanged Private National Mortgage Acceptance Company , LLC unitholders under tax receivable agreement 1,092   1,092  
Other 4,516 15,731 9,434 19,348
Total net revenues 444,730 406,127 875,633 711,787
Expenses        
Compensation 187,541 141,956 369,529 288,332
Loan origination 68,836 40,270 112,932 70,838
Technology 42,257 35,690 82,454 71,657
Servicing 28,286 22,920 50,161 39,024
Marketing and advertising 12,389 5,445 21,821 9,116
Professional services 8,380 9,404 17,417 18,666
Occupancy and equipment 8,379 7,893 16,761 16,569
Other 12,220 8,695 23,920 19,848
Total expenses 368,288 272,273 694,995 534,050
Income before (benefit from) provision for income taxes 76,442 133,854 180,638 177,737
(Benefit from) provision for income taxes (60,021) 35,596 (32,105) 40,171
Net income $ 136,463 $ 98,258 $ 212,743 $ 137,566
Earnings per share        
Basic (in dollars per share) $ 2.64 $ 1.93 $ 4.12 $ 2.71
Diluted (in dollars per share) $ 2.54 $ 1.85 $ 3.97 $ 2.59
Weighted-average shares outstanding        
Basic (in shares) 51,667 50,955 51,587 50,751
Diluted (in shares) 53,635 53,204 53,626 53,140
Related Party        
Net gains on loans held for sale at fair value:        
Net gains on loans held for sale at fair value $ 7,075 $ (473) $ 11,913 $ (826)
Loan origination fees 502 431 979 790
Nonrelated Party        
Net gains on loans held for sale at fair value:        
Net gains on loans held for sale at fair value 227,584 176,537 443,783 339,331
Loan origination fees 58,589 41,644 104,723 77,656
Net interest expense:        
Interest expense 239,577 207,871 447,659 373,640
Non-affiliates | Nonrelated Party        
Loan servicing fees:        
Servicing fees 435,517 375,040 853,204 733,066
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 7,075 (473) 11,913 (826)
Loan servicing fees:        
Servicing fees 21,645 20,264 43,374 40,526
Net interest expense:        
Change in fair value of investment in and dividends received from PennyMac Mortgage Investment Trust (105) (40) 80 (30)
Others | Nonrelated Party        
Loan servicing fees:        
Servicing fees $ 49,505 $ 45,392 $ 98,557 $ 91,288