| Financial Highlights by Segment |
Financial highlights by segment are summarized below:
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Quarter ended March 31, 2026 |
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Credit sensitive strategies |
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Interest rate sensitive strategies |
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Aggregation and securitization |
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Reportable segment total |
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Corporate |
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Consolidated total |
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(in thousands) |
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Net investment income (1): |
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Net loan servicing fees |
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$ |
— |
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$ |
83,586 |
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$ |
— |
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$ |
83,586 |
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$ |
— |
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$ |
83,586 |
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Net gains on loans held for sale |
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— |
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— |
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22,910 |
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22,910 |
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— |
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22,910 |
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Net (losses) gains on investments and financings |
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Mortgage-backed securities |
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— |
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(33,407 |
) |
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— |
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(33,407 |
) |
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— |
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(33,407 |
) |
Loans held for investment |
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2,191 |
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(5,758 |
) |
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— |
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(3,567 |
) |
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— |
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(3,567 |
) |
Credit risk transfer arrangements |
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13,911 |
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— |
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— |
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13,911 |
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— |
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13,911 |
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16,102 |
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(39,165 |
) |
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— |
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(23,063 |
) |
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— |
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(23,063 |
) |
Net interest expense: |
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Interest income |
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19,229 |
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214,630 |
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39,531 |
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273,390 |
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2,701 |
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276,091 |
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Interest expense |
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18,727 |
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227,557 |
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31,554 |
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277,838 |
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1,912 |
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279,750 |
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502 |
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(12,927 |
) |
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7,977 |
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(4,448 |
) |
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789 |
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(3,659 |
) |
Other |
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(48 |
) |
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— |
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2,408 |
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2,360 |
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— |
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2,360 |
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16,556 |
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31,494 |
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33,295 |
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81,345 |
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789 |
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82,134 |
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Expenses: |
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Earned by PennyMac Financial Services, Inc.: |
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Loan servicing fees |
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2 |
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19,721 |
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— |
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19,723 |
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— |
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19,723 |
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Management fees |
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— |
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— |
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— |
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— |
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6,762 |
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6,762 |
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Loan fulfillment fees |
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— |
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— |
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5,737 |
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5,737 |
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— |
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5,737 |
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Professional services |
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— |
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— |
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10,844 |
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10,844 |
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2,657 |
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13,501 |
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Compensation |
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— |
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— |
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— |
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— |
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2,976 |
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2,976 |
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Loan collection and liquidation |
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17 |
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2,107 |
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— |
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2,124 |
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— |
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2,124 |
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Safekeeping |
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— |
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|
802 |
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53 |
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855 |
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— |
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|
855 |
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Loan origination |
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— |
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— |
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213 |
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213 |
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— |
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213 |
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Other (2) |
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77 |
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|
873 |
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31 |
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981 |
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2,367 |
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3,348 |
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96 |
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23,503 |
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16,878 |
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40,477 |
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14,762 |
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55,239 |
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Pretax income (loss) |
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$ |
16,460 |
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$ |
7,991 |
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$ |
16,417 |
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$ |
40,868 |
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$ |
(13,973 |
) |
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$ |
26,895 |
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Total assets at end of quarter |
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$ |
1,756,200 |
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$ |
17,934,880 |
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$ |
2,408,670 |
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$ |
22,099,750 |
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$ |
402,942 |
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$ |
22,502,692 |
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(1)All investment income is from external customers. The segments do not recognize intersegment income. (2)Other expense includes smaller balance expense categories not separately provided to the chief operating decision maker such as insurance and technology.
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Quarter ended March 31, 2025 |
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Credit sensitive strategies |
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|
Interest rate sensitive strategies |
|
|
Aggregation and securitization |
|
|
Reportable segment total |
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|
Corporate |
|
|
Consolidated total |
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|
|
(in thousands) |
|
Net investment income (1): |
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Net loan servicing fees |
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$ |
— |
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$ |
(27,210 |
) |
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$ |
— |
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$ |
(27,210 |
) |
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$ |
— |
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$ |
(27,210 |
) |
Net gains on loans held for sale |
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— |
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— |
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12,344 |
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12,344 |
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— |
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12,344 |
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Net (losses) gains on investments and financings |
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|
|
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Mortgage-backed securities |
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(1,010 |
) |
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65,865 |
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— |
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64,855 |
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— |
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64,855 |
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Loans held for investment |
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2,767 |
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(3,509 |
) |
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— |
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(742 |
) |
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— |
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(742 |
) |
Credit risk transfer arrangements |
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(1,800 |
) |
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— |
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— |
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(1,800 |
) |
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— |
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(1,800 |
) |
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(43 |
) |
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62,356 |
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— |
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62,313 |
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— |
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62,313 |
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Net interest expense: |
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Interest income |
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19,549 |
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119,896 |
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|
33,198 |
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172,643 |
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3,448 |
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176,091 |
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Interest expense |
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18,117 |
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135,332 |
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27,522 |
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180,971 |
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1,166 |
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182,137 |
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1,432 |
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(15,436 |
) |
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5,676 |
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(8,328 |
) |
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2,282 |
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(6,046 |
) |
Other |
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(141 |
) |
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— |
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3,205 |
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|
3,064 |
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— |
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3,064 |
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1,248 |
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19,710 |
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21,225 |
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42,183 |
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2,282 |
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44,465 |
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Expenses: |
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Earned by PennyMac Financial Services, Inc.: |
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Loan servicing fees |
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2 |
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|
21,727 |
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— |
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|
21,729 |
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— |
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|
21,729 |
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Management fees |
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— |
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— |
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— |
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— |
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|
7,012 |
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|
7,012 |
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Loan fulfillment fees |
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|
— |
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— |
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5,290 |
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5,290 |
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— |
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|
5,290 |
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Professional services |
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— |
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— |
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|
4,880 |
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4,880 |
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|
2,102 |
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|
6,982 |
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Compensation |
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— |
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— |
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— |
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— |
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|
2,970 |
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|
2,970 |
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Loan collection and liquidation |
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|
42 |
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|
1,927 |
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|
— |
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|
1,969 |
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— |
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|
1,969 |
|
Safekeeping |
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|
— |
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|
1,034 |
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|
76 |
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|
1,110 |
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— |
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|
1,110 |
|
Loan origination |
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|
— |
|
|
|
— |
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|
|
686 |
|
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|
686 |
|
|
|
— |
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|
686 |
|
Other (2) |
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|
94 |
|
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|
496 |
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|
166 |
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|
756 |
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|
2,260 |
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|
3,016 |
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|
138 |
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|
25,184 |
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|
11,098 |
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|
36,420 |
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|
14,344 |
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|
50,764 |
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Pretax income (loss) |
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$ |
1,110 |
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|
$ |
(5,474 |
) |
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$ |
10,127 |
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$ |
5,763 |
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$ |
(12,062 |
) |
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$ |
(6,299 |
) |
Total assets at end of quarter |
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$ |
1,517,529 |
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$ |
10,860,903 |
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$ |
2,045,113 |
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$ |
14,423,545 |
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$ |
452,681 |
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$ |
14,876,226 |
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(1)All investment income is from external customers. The segments do not recognize intersegment income. (2)Other expense includes smaller balance expense categories not separately provided to the chief operating decision maker such as insurance and technology.
|