v3.26.1
Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Net investment income    
Contractually specified $ 147,592 $ 152,199
Other 3,367 3,917
Net mortgage loan servicing fees 150,959 156,116
Change in fair value of mortgage servicing rights (61,299) (144,590)
Mortgage servicing rights hedging results (11,881) (39,944)
Net loan servicing fees 83,586 (27,210)
Net gains on loans held for sale at fair value 22,910 12,344
Loan origination fees 2,375 3,152
Net (losses) gains on investments and financings (23,063) 62,313
Interest income 276,091 176,091
Interest expense 279,750 182,137
Net interest expense (3,659) (6,046)
Results of real estate acquired in settlement of loans (48) (141)
Other 33 53
Net investment income 82,134 44,465
Expenses    
Professional services 13,501 6,982
Compensation 2,976 2,970
Loan collection and liquidation 2,124 1,969
Safekeeping 855 1,110
Loan origination 213 686
Other 3,348 3,016
Total expenses 55,239 50,764
Income (loss) before provision for (benefit from) income taxes 26,895 (6,299)
Provision for (benefit from) income taxes 2,279 (15,979)
Net income 24,616 9,680
Dividends on preferred shares of beneficial interest 10,455 10,455
Net income (loss) attributable to common shareholders $ 14,161 $ (775)
Earnings (loss) per common share    
Basic $ 0.16 $ (0.01)
Diluted $ 0.16 $ (0.01)
Weighted average common shares outstanding    
Basic 87,082 86,907
Diluted 87,082 86,907
Nonaffiliates [Member]    
Net investment income    
Net loan servicing fees $ 77,779 $ (28,418)
Net gains on loans held for sale at fair value 22,910 10,329
PennyMac Financial Services, Inc. [Member]    
Net investment income    
From PennyMac Financial Services, Inc. 5,807 1,208
Net gains on loans held for sale at fair value 0 2,015
Expenses    
Loan servicing fees 19,723 21,729
Management fees 6,762 7,012
Loan fulfillment fees $ 5,737 $ 5,290