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          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_BankOfMontrealMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Bank of Montreal.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_BankOfMontrealMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Bank Of Montreal [Member]</link:label>
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          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FairValueInputPrepaymentSpeedMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Fair Value Input Prepayment Speed [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FairValueInputPrepaymentSpeedMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Prepayment speed.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_IncreaseDecreaseInInterestPayableNet_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Decrease in interest expense</link:label>
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          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_SegmentDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Segments</link:label>
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          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_InterestIncomeDomesticDeposits_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Interest Income, Domestic Deposits, Total</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_InterestIncomeDomesticDeposits_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Cash and short-term investments</link:label>
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          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_HomeEquityLoanMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Home Equity Lines of Credit [Member]</link:label>
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          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_RepurchaseAgreementsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Repurchase Agreements [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_AssetsSoldUnderAgreementsToRepurchaseAverageBalance_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Average balance</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_AssetsSoldUnderAgreementsToRepurchaseAverageBalance_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Assets Sold Under Agreements To Repurchase Average Balance</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_AssetsSoldUnderAgreementsToRepurchaseAverageBalance_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Assets sold under agreements to repurchase average balance.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ScheduleOfRelatedPartyTransactionsTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Summary of Amounts Receivable From and Payable to PFSI</link:label>
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          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_EntityIncorporationStateCountryCode_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Entity Incorporation, State or Country Code</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_EntityIncorporationStateCountryCode_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Entity Incorporation, State or Country Code</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_PreferredStockSharesIssued_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Number of shares</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_PreferredStockSharesIssued_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Preferred stock, shares issued</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_PreferredStockSharesIssued_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Preferred Stock, Shares Issued</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_GainLossRecognizedOnCreditRiskTransferStrips_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Credit risk transfer strips</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_GainLossRecognizedOnCreditRiskTransferStrips_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Gain Loss Recognized On Credit Risk Transfer Strips</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_GainLossRecognizedOnCreditRiskTransferStrips_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Gain (loss) recognized on credit risk transfer strips.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_DerivativeAssetsNoncurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Derivative assets</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_DerivativeAssetsNoncurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Derivative Asset, Noncurrent</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_lbl" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel">Beginning balance</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_lbl" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel">Ending balance</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability Value</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Fair value of liabilities</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Fair value, Liabilities</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_GainsLossesRecognizedOnCreditRiskTransferAgreementsIncludedInNetLossGainOnInvestments_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Gains Losses Recognized On Credit Risk Transfer Agreements Included In Net Loss Gain On Investments</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_GainsLossesRecognizedOnCreditRiskTransferAgreementsIncludedInNetLossGainOnInvestments_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Represents the net cash and valuation gains or losses pursuant to credit risk transfer agreements.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_GainsLossesRecognizedOnCreditRiskTransferAgreementsIncludedInNetLossGainOnInvestments_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Gains (losses) recognized on gross derivative related to credit risk transactions</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="srt_RestatementAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Revision of Prior Period</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="srt_RestatementAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Revision of Prior Period [Axis]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_PutOptionsOnInterestRateFuturesSaleContractsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Put Options On Interest Rate Futures Sale Contracts [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_PutOptionsOnInterestRateFuturesSaleContractsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Put options on interest rate futures sale contracts.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_PutOptionsOnInterestRateFuturesSaleContractsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Put Options On Interest Rate Futures Sell Contracts [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_InterestReceivableAndOtherAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Other interest receivable</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_InterestReceivableAndOtherAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Interest Receivable and Other Assets</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_IncentiveFeeDescription_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Performance incentive fee description</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_IncentiveFeeDescription_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Incentive Fee, Description</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_EquityAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Equity [Abstract]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_EntityCurrentReportingStatus_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Entity Current Reporting Status</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_EntityCurrentReportingStatus_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Entity Current Reporting Status</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ExchangeableSeniorNotesPerNotePrincipalAmount_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Exchangeable Senior Notes Per Note Principal Amount</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ExchangeableSeniorNotesPerNotePrincipalAmount_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Exchangeable Senior Notes Per Note Principal Amount</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ExchangeableSeniorNotesPerNotePrincipalAmount_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Exchangeable Senior Notes Per Note Principal Amount</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ExchangeableSeniorNotesPerNotePrincipalAmount_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Principal amount</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_GainLossOnLoansAcquiredForSaleMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Net gains on loans acquired for sale [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_GainLossOnLoansAcquiredForSaleMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Gain Loss On Loans Acquired For Sale [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_GainLossOnLoansAcquiredForSaleMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Gain loss on loans acquired for sale.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_DebtInstrumentIssuanceDate1_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Debt Instrument, Issuance Date</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_DebtInstrumentIssuanceDate1_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Debt Instrument, Issuance Date</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_OperatingExpensesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Expenses:</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_OperatingExpensesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Expenses</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_OperatingExpensesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Operating Expenses [Abstract]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_FairValueInputsLevel2Member_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Level 2 [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_FairValueInputsLevel2Member_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Fair Value, Inputs, Level 2 [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MeasurementInputInvoluntaryPrepaymentSpeedMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Involuntary Prepayment Speed [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MeasurementInputInvoluntaryPrepaymentSpeedMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Measurement Input Involuntary Prepayment Speed [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MeasurementInputInvoluntaryPrepaymentSpeedMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Measurement input involuntary prepayment speed.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_SecuritiesSoldUnderAgreementsToRepurchaseMaturityDate_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Weighted-average maturity, Advances</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_SecuritiesSoldUnderAgreementsToRepurchaseMaturityDate_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Securities Sold Under Agreements To Repurchase Maturity Date</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_SecuritiesSoldUnderAgreementsToRepurchaseMaturityDate_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Securities Sold under Agreements to Repurchase Maturity Date</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_CommitmentsAndContingenciesDisclosureTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Commitments and Contingencies</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_CommitmentsAndContingenciesDisclosureTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Commitments and Contingencies Disclosure [Text Block]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedExceedingPerformanceGoalsTargetInPeriod_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Share vested due to exceeding performance goal</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedExceedingPerformanceGoalsTargetInPeriod_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested Exceeding Performance Goals Target In Period</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedExceedingPerformanceGoalsTargetInPeriod_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Share based compensation arrangement by share based payment award equity instruments other than options vested exceeding the performance goals target in period.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_NetGainOnMortgageLoansAcquiredForSaleDisclosureTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Net Gain On Mortgage Loans Acquired For Sale Disclosure [Text Block]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_NetGainOnMortgageLoansAcquiredForSaleDisclosureTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Disclosure of key components of gain (loss) on mortgage loans acquired for sale.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_NetGainOnMortgageLoansAcquiredForSaleDisclosureTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Net Gains on Loans Held for Sale</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_CommonStockSharesAuthorized_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Common shares, authorized</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_CommonStockSharesAuthorized_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Common Stock, Shares Authorized</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_RepurchaseOfRealEstatePreviouslySoldAsLoansAcquiredForSale_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Repurchase of real estate previously sold as loans acquired for sale</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_RepurchaseOfRealEstatePreviouslySoldAsLoansAcquiredForSale_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Repurchase of real estate previously sold as loans acquired for sale</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_RepurchaseOfRealEstatePreviouslySoldAsLoansAcquiredForSale_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Repurchase of real estate previously sold as loans acquired for sale.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="srt_ProductOrServiceAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Product and Service</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="srt_ProductOrServiceAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Product and Service [Axis]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoansOnRealEstatePrincipalAmountOfDelinquentLoansLessThanNinetyDays_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Current through 89 days delinquent</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoansOnRealEstatePrincipalAmountOfDelinquentLoansLessThanNinetyDays_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Mortgage Loans On Real Estate Principal Amount Of Delinquent Loans Less Than Ninety Days</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoansOnRealEstatePrincipalAmountOfDelinquentLoansLessThanNinetyDays_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Unpaid principal balance of mortgage loans carried at fair value under the fair value option and less than 90 days past due.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_DocumentFiscalPeriodFocus_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Document Fiscal Period Focus</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_DocumentFiscalPeriodFocus_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Document Fiscal Period Focus</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_DebtInstrumentInterestRateStatedPercentage_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Percentage of interest on debt</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_DebtInstrumentInterestRateStatedPercentage_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Interest rate spread (Annual)</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_DebtInstrumentInterestRateStatedPercentage_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Debt Instrument, Interest Rate, Stated Percentage</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoansOnRealEstateNotInForeclosurePrincipalAmountOfDelinquentLoans_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">90 or more days delinquent, not in foreclosure</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoansOnRealEstateNotInForeclosurePrincipalAmountOfDelinquentLoans_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Mortgage Loans On Real Estate Not In Foreclosure Principal Amount Of Delinquent Loans</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoansOnRealEstateNotInForeclosurePrincipalAmountOfDelinquentLoans_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Unpaid principal balance of mortgage loans carried at fair value under the fair value option, more than 90 days past due and in foreclosure.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ServicingAssetAtFairValuePeriodIncreaseDecrease_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Change in fair value, Total</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ServicingAssetAtFairValuePeriodIncreaseDecrease_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Change in fair value of mortgage servicing rights</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ServicingAssetAtFairValuePeriodIncreaseDecrease_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Servicing Asset at Fair Value, Period Increase (Decrease)</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_EntityShellCompany_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Entity Shell Company</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_EntityShellCompany_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Entity Shell Company</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_GainLossOnInvestmentsAndFinancings_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Net losses (gains) on investments and financings</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_GainLossOnInvestmentsAndFinancings_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Gain Loss On Investments And Financings</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_GainLossOnInvestmentsAndFinancings_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Gain loss on investments and financings.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_GainLossOnInvestmentsAndFinancings_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Net gains on investments and financings</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_GainLossOnInvestmentsAndFinancings_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Net losses (gains) on investments and financings</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_GainLossOnInvestmentsAndFinancings_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Net gains on investments and financings</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_BarclaysCapitalIncMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Barclays Capital Inc. [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_BarclaysCapitalIncMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Barclays Capital Inc [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_BarclaysCapitalIncMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Barclays Capital Inc.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ConvertibleDebtMember_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Exchangeable Senior Notes [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ConvertibleDebtMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Convertible Debt [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ConvertibleDebtMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Convertible Debt [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ScheduleOfGainLossOnInvestmentsTable_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Schedule Of Gain Loss On Investments [Table]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ScheduleOfGainLossOnInvestmentsTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Schedule of Gain (Loss) on Securities [Table]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_SegmentReportingPolicyPolicyTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Segment Reporting</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_SegmentReportingPolicyPolicyTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Segment Reporting, Policy [Policy Text Block]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_GainLossOnLoansHeldForInvestment_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Gain loss on loans held for investment</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_GainLossOnLoansHeldForInvestment_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Gain loss on loans held for investment.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_GainLossOnLoansHeldForInvestment_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Loans held for investment</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FairValueInputWeightedAverageLife_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Estimated fair value inputs, Life (in years)</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FairValueInputWeightedAverageLife_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Fair Value Input Weighted Average Life</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FairValueInputWeightedAverageLife_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Represents the average life of the ESS asset based on its prepayment speed input.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FairValueInputWeightedAverageLife_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Fair value inputs, Equivalent life (in years)</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Summary of Term Note Issued to Qualified Institutional Buyers</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Schedule of Maturities of Long-Term Debt [Table Text Block]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_SeriesABPreferredStockAndCCumulativeRedeemablePreferredStockMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Series a b preferred stock and c cumulative redeemable preferred stock.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_SeriesABPreferredStockAndCCumulativeRedeemablePreferredStockMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Series A B Preferred Stock And C Cumulative Redeemable Preferred Stock [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_SeriesABPreferredStockAndCCumulativeRedeemablePreferredStockMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">8.125% Series A, 8.00% Series B, 6.75% Series C Cumulative Redeemable Preferred Stock [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ExcessSpreadInvestmentMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Excess servicing spread [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ExcessSpreadInvestmentMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Excess Spread Investment [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ExcessSpreadInvestmentMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Excess Spread Investment [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_EstimatedLoansAtFairValueOfCashFlowsValuationDiscountedAnnualRate_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Estimated loans at fair value of cash flows valuation, discounted annual rate</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_EstimatedLoansAtFairValueOfCashFlowsValuationDiscountedAnnualRate_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Estimated Loans At Fair Value Of Cash Flows Valuation Discounted Annual Rate</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_EstimatedLoansAtFairValueOfCashFlowsValuationDiscountedAnnualRate_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Estimated loans at fair value of cash flows valuation, discounted annual rate.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_JPMorganChaseAndCompanyMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">JPMorgan Chase &amp; Co. [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_JPMorganChaseAndCompanyMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">J P Morgan Chase And Company [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_JPMorganChaseAndCompanyMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">JP Morgan Chase And Company [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_MortgagesHeldForSaleFairValueDisclosure_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Loans acquired for sale at fair value</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_MortgagesHeldForSaleFairValueDisclosure_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Loans held for sale</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_MortgagesHeldForSaleFairValueDisclosure_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Loans held for sale at fair value</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_MortgagesHeldForSaleFairValueDisclosure_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Loans held for sale at fair value ($2,328,824 and $2,676,700 pledged to creditors, respectively)</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_UnpaidBalanceOfMortgageLoansUnderlyingCreditGuaranteesOnCreditRiskTransferAgreements_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Unpaid Balance Of Mortgage Loans Underlying Credit Guarantees On Credit Risk Transfer Agreements</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_UnpaidBalanceOfMortgageLoansUnderlyingCreditGuaranteesOnCreditRiskTransferAgreements_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Unpaid balance of mortgage loans underlying credit guarantees on credit risk transfer agreements.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_UnpaidBalanceOfMortgageLoansUnderlyingCreditGuaranteesOnCreditRiskTransferAgreements_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Unpaid principal balance of loans underlying credit risk transfer arrangements</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_CommonStockSharesIssued_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Common shares, issued</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_CommonStockSharesIssued_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Common Stock, Shares, Issued</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ScheduleOfShortTermDebtTable_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Schedule Of Short Term Debt [Table]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ScheduleOfShortTermDebtTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Short-Term Debt [Table]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_Pledgedfinancialinstrumentsnotseparatelyreportedpledgedsecurities_lbl" xlink:role="http://www.xbrl.org/2003/role/label">PledgedFinancialInstrumentsNotSeparatelyReportedPledgedSecurities</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_Pledgedfinancialinstrumentsnotseparatelyreportedpledgedsecurities_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Pledged financial instruments not separately reported Pledged securities.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_Pledgedfinancialinstrumentsnotseparatelyreportedpledgedsecurities_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Loans pledged to secure mortgage loan participation purchase and sale agreements</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationByAssetClassDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Asset Class</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationByAssetClassDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Asset Class [Domain]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_StatementTable_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Statement [Table]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_StatementTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Statement [Table]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_InterestReceivable_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Interest receivable</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_InterestReceivable_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Interest Receivable</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ProvisionForLossesUnderRepresentationAndWarranties_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Provision for losses relating to representations and warranties</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ProvisionForLossesUnderRepresentationAndWarranties_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Provision For Losses Under Representation And Warranties</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ProvisionForLossesUnderRepresentationAndWarranties_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Provision for losses under representation and warranties.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_StockRepurchaseProgramCostOfCumulativeSharesRepurchased_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Cumulative cost of shares repurchased</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_StockRepurchaseProgramCostOfCumulativeSharesRepurchased_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Stock Repurchase Program Cost Of Cumulative Shares Repurchased</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_StockRepurchaseProgramCostOfCumulativeSharesRepurchased_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Stock repurchase program cost of cumulative shares repurchased.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ScheduleOfKeyUnobservableInputsUsedInValuationOfCreditRiskTransfersTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Quantitative Summary of Key Unobservable Inputs Used in Valuation of CRT Derivatives</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ScheduleOfKeyUnobservableInputsUsedInValuationOfCreditRiskTransfersTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Schedule Of Key Unobservable Inputs Used In Valuation Of Credit Risk Transfers Table [Text Block]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ScheduleOfKeyUnobservableInputsUsedInValuationOfCreditRiskTransfersTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Schedule of key unobservable inputs used In valuation of credit risk transfers.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_OffsettingAssetsTable_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Offsetting Assets [Table]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_OffsettingAssetsTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Offsetting Assets [Table]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_InvestmentOwnedBalancePrincipalAmount_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Investment Owned, Balance, Principal Amount</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_InvestmentOwnedBalancePrincipalAmount_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Principal balance or notional amount</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageServicingRightsDisclosureTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Mortgage Servicing Rights</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageServicingRightsDisclosureTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Mortgage Servicing Rights Disclosure [Text Block]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageServicingRightsDisclosureTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Disclosure of the activity in the balance of servicing assets at both fair value and subsequently measured at amortized value.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_StatementLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Statement [Line Items]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_StatementLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Statement [Line Items]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_SecuritiesSoldUnderAgreementsToRepurchaseMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Security Sold Under Agreements to Repurchase [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_SecuritiesSoldUnderAgreementsToRepurchaseMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Securities Sold under Agreements to Repurchase [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_EntityFilerCategory_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Entity Filer Category</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_EntityFilerCategory_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Entity Filer Category</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_VariableInterestEntityDisclosureTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Variable Interest Entities</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_VariableInterestEntityDisclosureTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Variable Interest Entity Disclosure [Text Block]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_CRTTermNotesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">CRT Term Notes</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_CRTTermNotesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">CRT Term Notes [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_CRTTermNotesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">C R T Term Notes [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_CRTTermNotesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">CRT term notes.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_PrincipalOnlyStrippedSecuritiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Principal-only Stripped Securities [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_PrincipalOnlyStrippedSecuritiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Principal-only stripped securities.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_PrincipalOnlyStrippedSecuritiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Principal-only Stripped [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_LoansHeldForSaleAtFairValueMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Loans Held For Sale At Fair Value [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_LoansHeldForSaleAtFairValueMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Loans held for sale at fair value.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_LoansHeldForSaleAtFairValueMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Loans Held for Sale at Fair Value [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_InterestIncomeExpenseNetAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Net interest expense:</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_InterestIncomeExpenseNetAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Interest Income (Expense), Operating [Abstract]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_DebtInstrumentFairValueCarryingValueAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Debt Instrument Fair Value Carrying Value [Abstract]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_DebtInstrumentFairValueCarryingValueAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Debt Instrument Fair Value Carrying Value [Abstract]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_InterestIncomeOnMortgageLoansSubjectToDepositsSecuringCreditRiskTransferAgreements_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Deposits securing CRT arrangements</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_InterestIncomeOnMortgageLoansSubjectToDepositsSecuringCreditRiskTransferAgreements_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Interest Income On Mortgage Loans Subject To Deposits Securing Credit Risk Transfer Agreements</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_InterestIncomeOnMortgageLoansSubjectToDepositsSecuringCreditRiskTransferAgreements_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Interest income on mortgage loans subject to deposits securing credit risk transfer agreements.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_DerivativeGainLossStatementOfIncomeOrComprehensiveIncomeExtensibleEnumeration_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_AssetBackedSecuredFinancingInterestExpense_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Asset Backed Secured Financing Interest Expense</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_AssetBackedSecuredFinancingInterestExpense_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Represents interest expense relating to bonds issued to non-affiliates secured by mortgage loans held in a consolidated VIE.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_AssetBackedSecuredFinancingInterestExpense_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Asset-backed financings</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_LiabilitiesAndStockholdersEquity_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Total liabilities and shareholders&#8217; equity</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_LiabilitiesAndStockholdersEquity_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Liabilities and Equity</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_DerivativeFairValueOfDerivativeAssetAmountNotOffsetAgainstCollateral_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Derivative Asset, Subject to Master Netting Arrangement, before Offset of Collateral, Total</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_DerivativeFairValueOfDerivativeAssetAmountNotOffsetAgainstCollateral_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Net amount</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_DerivativeFairValueOfDerivativeAssetAmountNotOffsetAgainstCollateral_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Derivative Asset, Subject to Master Netting Arrangement, before Offset of Collateral</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageBackedSecuritiesMaturityPeriod_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Mortgage backed securities, maturity period</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageBackedSecuritiesMaturityPeriod_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Mortgage Backed Securities Maturity Period</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageBackedSecuritiesMaturityPeriod_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Mortgage backed securities maturity period.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoansOnRealEstateNumberOfLoansPurchased_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Number of mortgage loans purchased</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoansOnRealEstateNumberOfLoansPurchased_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Mortgage Loans On Real Estate Number Of Loans Purchased</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoansOnRealEstateNumberOfLoansPurchased_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Mortgage loans on real estate number of loans purchased.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_DebtInstrumentLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Debt Instrument [Line Items]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_DebtInstrumentLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Debt Instrument [Line Items]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoansHeldForSaleMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Mortgage Loans Held For Sale [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoansHeldForSaleMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Mortgage loans held for sale.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoansHeldForSaleMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Loans held for sale [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_DelinquentAmountAtEndOfPeriodOnLoansManagedAndSecuritizedNinetyDaysOrMoreInForeclosure_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">In foreclosure</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_DelinquentAmountAtEndOfPeriodOnLoansManagedAndSecuritizedNinetyDaysOrMoreInForeclosure_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Delinquent Amount At End Of Period On Loans Managed And Securitized Ninety Days Or More In Foreclosure</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_DelinquentAmountAtEndOfPeriodOnLoansManagedAndSecuritizedNinetyDaysOrMoreInForeclosure_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Delinquent amount at end of period on loans managed and securitized ninety days or more in foreclosure or bankruptcy.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_StatementOfPartnersCapitalAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Statement of Partners' Capital [Abstract]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_UnsecuredDebtIncludeExchangeableSeniorNotes_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Unsecured Debt balance include Exchangeable Senior Notes and 2023 Senior Notes.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_UnsecuredDebtIncludeExchangeableSeniorNotes_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Unsecured Debt Include Exchangeable Senior Notes</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_UnsecuredDebtIncludeExchangeableSeniorNotes_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Unpaid principal balance</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_UnsecuredDebtIncludeExchangeableSeniorNotes_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Unsecured senior notes</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FairValueOptionLoansHeldAsAssetsNotInForeclosureAggregateDifference_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">90 or more days delinquent, not in foreclosure</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FairValueOptionLoansHeldAsAssetsNotInForeclosureAggregateDifference_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Fair Value Option Loans Held As Assets Not In Foreclosure Aggregate Difference</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FairValueOptionLoansHeldAsAssetsNotInForeclosureAggregateDifference_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Aggregate difference between fair value and unpaid principal balance mortgage loans carried at fair value under the fair value option, more than 90 days past due and not in foreclosure.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_RetainedInterestFairValueDisclosure_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Retained Interest, Fair Value Disclosure</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_RetainedInterestFairValueDisclosure_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Retained interests at fair value pledged to secure Assets sold under agreements to repurchase</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_InterestIncomeSecuritiesMortgageBacked_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Mortgage-backed securities</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_InterestIncomeSecuritiesMortgageBacked_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Interest Income, Securities, Mortgage-Backed</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_NonCashInvestingInUnsettledSecuritiesTrades_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Unsettled securities trades</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_NonCashInvestingInUnsettledSecuritiesTrades_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Non cash investing in Unsettled securities trades</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_NonCashInvestingInUnsettledSecuritiesTrades_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Non cash investing in unsettled securities trades.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedAndExpectedToVestWeightedAverageGrantDateFairValue_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Grant date average fair value per unit</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedAndExpectedToVestWeightedAverageGrantDateFairValue_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested And Expected To Vest Weighted Average Grant Date Fair Value</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedAndExpectedToVestWeightedAverageGrantDateFairValue_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested And Expected To Vest Weighted Average Grant Date Fair Value</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_LoansAndMSRsSoldUnderAgreementsToRepurchaseMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Loans And M S Rs Sold Under Agreements To Repurchase [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_LoansAndMSRsSoldUnderAgreementsToRepurchaseMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Loans and M S Rs sold under agreements to repurchase.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_LoansAndMSRsSoldUnderAgreementsToRepurchaseMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Loans and MSRs Sold Under Agreements to Repurchase [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ExchangeableNotesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Exchangeable Notes [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ExchangeableNotesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Exchangeable Notes [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ExchangeableNotesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Exchangeable notes.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_DerivativeLiabilitySecuritiesSoldUnderAgreementsToResellSecuritiesLoanedAmountOffsetAgainstCollateral_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Net amount</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_DerivativeLiabilitySecuritiesSoldUnderAgreementsToResellSecuritiesLoanedAmountOffsetAgainstCollateral_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Derivative Liability, Security Sold under Agreement to Repurchase, and Security Loaned, Including Not Subject to Master Netting Arrangement, after Offset and Deduction</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_DeferredTaxAssetsValuationAllowance_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Deferred tax assets, valuation allowance</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_DeferredTaxAssetsValuationAllowance_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Deferred Tax Assets, Valuation Allowance</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_SubsequentEventLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Subsequent Event [Line Items]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_SubsequentEventLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Subsequent Event [Line Items]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ProceedsFromSaleOfMortgageLoansHeldForSaleToAffiliates_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Proceeds From Sale Of Mortgage Loans Held For Sale To Affiliates</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ProceedsFromSaleOfMortgageLoansHeldForSaleToAffiliates_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Unpaid principal balance of mortgage loans acquired for sale sold to an affiliate.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ProceedsFromSaleOfMortgageLoansHeldForSaleToAffiliates_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Sale of loans held for sale to PennyMac Financial Services, Inc.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_DerivativeAssetsPledgedToCreditors_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Derivative assets</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_DerivativeAssetsPledgedToCreditors_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Derivative assets, pledged to creditors</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_DerivativeAssetsPledgedToCreditors_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Derivative Assets Pledged To Creditors</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_DerivativeAssetsPledgedToCreditors_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Derivative assets pledged to creditors.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_EffectiveIncomeTaxRateContinuingOperations_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Effective Income Tax Rate Reconciliation, Percent, Total</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_EffectiveIncomeTaxRateContinuingOperations_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Effective income tax rates</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_EffectiveIncomeTaxRateContinuingOperations_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Effective Income Tax Rate Reconciliation, Percent</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_EffectiveIncomeTaxRateContinuingOperations_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Provision for (benefit from) income taxes</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_PutOptionsOnInterestRateFuturesSellContractsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Put options on interest rate futures sell contracts.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_PutOptionsOnInterestRateFuturesSellContractsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Put Options On Interest Rate Futures Sell Contracts [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_PutOptionsOnInterestRateFuturesSellContractsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Put Options On Interest Rate Futures Sell Contracts [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ConvertibleDebtSecuritiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Shares Issuable Pursuant to Exchange of Exchangeable Senior Notes [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ConvertibleDebtSecuritiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Convertible Debt Securities [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_PrimeMortgageLoanMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Prime Mortgage Loans [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_PrimeMortgageLoanMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Prime Mortgage Loan [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_PrimeMortgageLoanMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Prime mortgage loan.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FreddieMacMSRFinancingMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Freddie Mac MSR Financing</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FreddieMacMSRFinancingMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Freddie Mac M S R Financing [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FreddieMacMSRFinancingMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Freddie Mac M S R financing.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_PennyMacFinancialServicesAffiliatedEntityMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">PennyMac Financial Services, Inc. [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_PennyMacFinancialServicesAffiliatedEntityMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Penny Mac Financial Services Affiliated Entity [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_PennyMacFinancialServicesAffiliatedEntityMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">PennyMac Financial Services Inc. Affiliated Entity.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ScheduleOfMortgageLoanParticipationAgreementsTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Summary of Mortgage Loan Participation Purchase and Sale Agreement</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ScheduleOfMortgageLoanParticipationAgreementsTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Schedule Of Mortgage Loan Participation Agreements Table [Text Block]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ScheduleOfMortgageLoanParticipationAgreementsTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Represents disclosure of participation agreements with commercial banks whereby the Company sells its interest in pooled mortgage loans subject to forward sale agreements to the bank before receipt of the mortgage backed security from the pool's guaranteeing agency.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ProceedsFromConvertibleDebt_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Proceeds from Convertible Debt</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ProceedsFromConvertibleDebt_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Issuance of unsecured senior notes</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_LongTermDebtAverageBalanceDuringPeriod_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Average balance</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_LongTermDebtAverageBalanceDuringPeriod_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Long Term Debt Average Balance During Period</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_LongTermDebtAverageBalanceDuringPeriod_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Long term debt average balance during period.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_TransferToOtherRealEstate_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Loans to REO</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_TransferToOtherRealEstate_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Loans to REO</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_TransferToOtherRealEstate_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Real Estate Owned, Transfer to Real Estate Owned</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_TransferToOtherRealEstate_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Transfer of loans and servicing advances to real estate acquired in settlement of loans</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FairValueInputsVoluntaryPrepaymentSpeed_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Key inputs used in fair value for CRT agreements</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FairValueInputsVoluntaryPrepaymentSpeed_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Fair Value Inputs Voluntary Prepayment Speed</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FairValueInputsVoluntaryPrepaymentSpeed_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Fair value inputs voluntary prepayment speed.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_InvestmentIncomeExpenseMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Investment Income (Expense) [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_InvestmentIncomeExpenseMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Net Interest Expense [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_AssetBackedSecuritiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Asset-backed Securities</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_AssetBackedSecuritiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Asset-Backed Securities [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_AssetBackedSecuritiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Asset-backed financings of VIEs [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_EstablishedPercentageOfUnpaidPrincipalBalanceOfMortgageLoansSoldUnderRecourseObligationLosses_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Initially established percentage of unpaid principal balance of loans sold under recourse obligation losses</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_EstablishedPercentageOfUnpaidPrincipalBalanceOfMortgageLoansSoldUnderRecourseObligationLosses_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Established Percentage Of Unpaid Principal Balance Of Mortgage Loans Sold Under Recourse Obligation Losses</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_EstablishedPercentageOfUnpaidPrincipalBalanceOfMortgageLoansSoldUnderRecourseObligationLosses_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Established percentage of unpaid principal balance of mortgage loans sold under recourse obligation losses.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_TransferOfInterestRateLockCommitmentsToLoansHeldForSale_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Transfer Of Interest Rate Lock Commitments To Loans Held For Sale</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_TransferOfInterestRateLockCommitmentsToLoansHeldForSale_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Transfer of interest rate lock commitments to loans held for sale.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_TransferOfInterestRateLockCommitmentsToLoansHeldForSale_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Interest rate lock commitments to loans held for sale</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_InterestRateLockCommitmentsWithNon-AffiliatesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Interest Rate Lock Commitments with Non-Affiliates [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_InterestRateLockCommitmentsWithNon-AffiliatesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Interest rate lock commitments with non-affiliates.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoansOnRealEstateNumberOfLoansPurchasedMultiplier_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Number of mortgage loans purchased multiplier</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoansOnRealEstateNumberOfLoansPurchasedMultiplier_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Mortgage Loans On Real Estate Number Of Loans Purchased Multiplier</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoansOnRealEstateNumberOfLoansPurchasedMultiplier_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Mortgage loans on real estate number of loans purchased multiplier.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ScheduleOfVariableInterestEntitiesTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Variable Interest Entity [Table]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_PaymentsForRepurchaseOfMortgageLoansAtFairValue_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Repurchase of loans at fair value</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_PaymentsForRepurchaseOfMortgageLoansAtFairValue_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Payments For Repurchase Of Mortgage Loans At Fair Value</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_PaymentsForRepurchaseOfMortgageLoansAtFairValue_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Payments for repurchase of mortgage loans at fair value.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentOtherThanOptionVestedAndExpectedToVestNumber_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Share Based Compensation Arrangement By Share Based Payment Award Equity Instrument Other Than Option Vested And Expected To Vest Number</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentOtherThanOptionVestedAndExpectedToVestNumber_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Share Based Compensation Arrangement By Share Based Payment Award Equity Instrument Other Than Option Vested And Expected To Vest Number</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentOtherThanOptionVestedAndExpectedToVestNumber_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Number of units (in thousands)</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_AdditionalPaidInCapitalCommonStock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Additional paid-in capital</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_AdditionalPaidInCapitalCommonStock_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Additional Paid in Capital, Common Stock</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FairValueUnpaidPrincipalOfUnderlyingLoansBalance_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Fair Value Unpaid Principal Of Underlying Loans Balance</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FairValueUnpaidPrincipalOfUnderlyingLoansBalance_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Unpaid principal balance of mortgage loans underlying MSRs carried at fair value at period end.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FairValueUnpaidPrincipalOfUnderlyingLoansBalance_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Unpaid principal balance of underlying loans, Fair Value</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FinancialInstrumentsOwnedMortgagesMortgageBackedAndAssetBackedSecuritiesAmortizationAndAccrualOfNetPurchasePremiumsAndDiscounts_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Financial Instruments Owned Mortgages Mortgage Backed And Asset Backed Securities Amortization and Accrual of Net Purchase Premiums and Discounts</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FinancialInstrumentsOwnedMortgagesMortgageBackedAndAssetBackedSecuritiesAmortizationAndAccrualOfNetPurchasePremiumsAndDiscounts_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Financial instruments owned mortgages mortgage backed and asset backed securities amortization and accrual of net purchase premiums and discounts.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FinancialInstrumentsOwnedMortgagesMortgageBackedAndAssetBackedSecuritiesAmortizationAndAccrualOfNetPurchasePremiumsAndDiscounts_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Amortization and accrual of net purchase premiums and discounts , net</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_LiquidAssetsForRegulatoryCompliance_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Liquidity, Actual</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_LiquidAssetsForRegulatoryCompliance_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Liquid Assets For Regulatory Compliance</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_LiquidAssetsForRegulatoryCompliance_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Liquid&#8203; assets for regulatory compliance.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_PaymentsToAcquireMortgageBackedSecuritiesMBSCategorizedAsAvailableForSale_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Payments to Acquire Mortgage-Backed Securities (MBS), Available-for-Sale</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_PaymentsToAcquireMortgageBackedSecuritiesMBSCategorizedAsAvailableForSale_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Purchase of mortgage-backed securities</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_CertificatesRetainedInAssetBackedFinancingsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Certificates Retained In Asset Backed Financings</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_CertificatesRetainedInAssetBackedFinancingsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Certificates Retained In Asset Backed Financings [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_CertificatesRetainedInAssetBackedFinancingsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Certificates retained in asset-backed financings.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MarginDepositsPlacedWithCounterParties_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Margin deposits placed with counterparties included in Other assets, net</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MarginDepositsPlacedWithCounterParties_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Margin Deposits Placed With Counter Parties</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MarginDepositsPlacedWithCounterParties_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Margin deposits placed with counter parties.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_RegulatoryAssetsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Regulatory Assets [Abstract]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_RegulatoryAssetsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Regulatory Assets [Abstract]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_RBCCapitalMarketsLPMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">RBC Capital Markets L.P. [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_RBCCapitalMarketsLPMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">R B C Capital Markets L P [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_RBCCapitalMarketsLPMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">RBC Capital Markets L.P.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_NonperformingFinancingReceivableMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Nonperforming mortgage loans [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_NonperformingFinancingReceivableMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Nonperforming Financial Instruments [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ProceedsFromIssuanceOfSecuredDebt_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Proceeds from Issuance of Secured Debt</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ProceedsFromIssuanceOfSecuredDebt_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Issuance of asset-backed financings of variable interest entities</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="srt_ShareRepurchaseProgramAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Share Repurchase Program [Axis]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_HeldForSaleToAffiliatesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Held For Sale To Affiliates [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_HeldForSaleToAffiliatesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Held for sale to affiliates.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_LongTermNotesPayableAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Assets securing notes payable:</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_LongTermNotesPayableAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Notes Payable, Noncurrent [Abstract]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Summary of Basic and Diluted Earnings per Share</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_Interest-OnlyStrippedMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Interest-Only Stripped [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_Interest-OnlyStrippedMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Interest-only stripped.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_DerivativeLiabilitySecuritiesSoldUnderAgreementsToResellSecuritiesLoanedCollateralRightToReclaimSecurities_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Gross amounts not offset in the consolidated balance sheet, Financial instruments</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_DerivativeLiabilitySecuritiesSoldUnderAgreementsToResellSecuritiesLoanedCollateralRightToReclaimSecurities_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Derivative Liability, Security Sold under Agreement to Repurchase, and Security Loaned, Subject to Master Netting Arrangement, Collateral, Right to Reclaim Security Not Offset</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ChangesInFairValueOfLoansAndDerivatives_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Total changes in fair value of loans and derivatives</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ChangesInFairValueOfLoansAndDerivatives_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Changes in fair value of loans and derivatives</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ChangesInFairValueOfLoansAndDerivatives_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Changes in fair value of loans and derivatives.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ConcentrationRiskDisclosureTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Concentration of Risks</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ConcentrationRiskDisclosureTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Concentration Risk Disclosure [Text Block]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_MortgageBankingAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Mortgage Banking [Abstract]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_DerivativeLiabilitySecuritiesSoldUnderAgreementsToResellSecuritiesLoanedCollateralRightToReclaimCash_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Gross amounts not offset in the consolidated balance sheet, Cash collateral pledged</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_DerivativeLiabilitySecuritiesSoldUnderAgreementsToResellSecuritiesLoanedCollateralRightToReclaimCash_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Derivative Liability, Security Sold under Agreement to Repurchase, and Security Loaned, Subject to Master Netting Arrangement, Collateral, Right to Reclaim Cash Not Offset</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_StockCompensationPlanMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Share-based Compensation Plan [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_StockCompensationPlanMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Share-Based Payment Arrangement [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_DividendsPayableCurrentAndNoncurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Dividends declared, not paid</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_DividendsPayableCurrentAndNoncurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Dividends Payable</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_EarningsPerShareBasic_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Earnings Per Share, Basic, Total</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_EarningsPerShareBasic_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Earnings Per Share, Basic</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_EarningsPerShareBasic_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Basic earnings (losses) per share</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_EarningsPerShareBasic_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Basic</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ScheduleOfRepurchaseAgreements_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Summary of Financial Information Relating to Assets Sold under Agreements to Repurchase</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ScheduleOfRepurchaseAgreements_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Schedule of Repurchase Agreements [Table Text Block]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_TwentyFiveMayTwoThousandTwentyThreeMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">May 25, 2023 [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_TwentyFiveMayTwoThousandTwentyThreeMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Twenty five may two thousand twenty three.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_TwentyFiveMayTwoThousandTwentyThreeMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Twenty Five May Two Thousand Twenty Three [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ServicingAssetAtFairValueAmount_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Balance at end of period</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ServicingAssetAtFairValueAmount_lbl" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel">Balance at beginning of quarter</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ServicingAssetAtFairValueAmount_lbl" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel">Balance at end of quarter</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ServicingAssetAtFairValueAmount_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Mortgage servicing rights</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ServicingAssetAtFairValueAmount_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Mortgage servicing rights at fair value ($3,560,828 and $3,582,211 pledged to creditors, respectively)</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_VariableInterestEntityLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Variable Interest Entity [Line Items]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_RepaymentsOfSecuredDebt_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Repayments of Secured Debt</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_RepaymentsOfSecuredDebt_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Repayment of asset-backed financings of variable interest entities</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FebruaryTwoThousandTwentyFiveMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">February Two Thousand Twenty Five [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FebruaryTwoThousandTwentyFiveMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">February Two Thousand Twenty Five.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FebruaryTwoThousandTwentyFiveMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">February 2025 [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_LoanFulfillmentFeesPayableToAffiliate_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Loan fulfillment fees earned by PLS</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_LoanFulfillmentFeesPayableToAffiliate_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Loan fulfillment fees</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_LoanFulfillmentFeesPayableToAffiliate_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Loan Fulfillment Fees Payable To Affiliate</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_LoanFulfillmentFeesPayableToAffiliate_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">The fees paid by the reporting entity to an affiliate for services performed in connection with the acquisition, packaging and sale of the reporting entity's mortgage loans.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Adjustment to Reconcile Net Income to Cash Provided by (Used in) Operating Activity [Abstract]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Adjustments to reconcile net income to net cash used in operating activities:</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ServiceAgreementMaturityRenewalTerm_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Service agreement maturity renewal term</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ServiceAgreementMaturityRenewalTerm_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Service Agreement Maturity Renewal Term</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ServiceAgreementMaturityRenewalTerm_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Service Agreement Maturity Renewal Term</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_AgencyConformingLoansSecuredByNonOwnerOccupiedPropertiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Agency-conforming Loans Secured By Non-owner Occupied Properties [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_AgencyConformingLoansSecuredByNonOwnerOccupiedPropertiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Agency Conforming Loans Secured By Non Owner Occupied Properties Member</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_AgencyConformingLoansSecuredByNonOwnerOccupiedPropertiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Agency-conforming loans secured by non-owne occupied properties.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_AgencyConformingLoansSecuredByNonOwnerOccupiedPropertiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Non-owner occupied properties [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ParticipatingMortgageLoansWeightedAverageInterestRate_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Weighted average interest rate</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ParticipatingMortgageLoansWeightedAverageInterestRate_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Participating Mortgage Loans Weighted Average Interest Rate</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ParticipatingMortgageLoansWeightedAverageInterestRate_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Participating mortgage loans weighted average interest rate.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ConventionalConformingLoansMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Conventional conforming loans.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ConventionalConformingLoansMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Conventional Conforming Loans [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ConventionalConformingLoansMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Held for Sale to PLS - Government-Insured or Guaranteed [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ConventionalConformingLoansMember_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Held for Sale to PLS - Conventional Conforming Loans [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoanOtherServicingFees_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Other</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoanOtherServicingFees_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Mortgage loan other servicing fees</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoanOtherServicingFees_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Mortgage Loan Other Servicing Fees</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoanOtherServicingFees_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Mortgage loan other servicing fees.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ReportableSegmentMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Reportable segment.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ReportableSegmentMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Reportable Segment [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ReportableSegmentMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Reportable Segment [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="srt_ShareRepurchaseProgramDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Share Repurchase Program [Domain]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_NonCashPortionOfGainOnMortgageLoansAcquiredForSaleAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Non-cash gains:</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_NonCashPortionOfGainOnMortgageLoansAcquiredForSaleAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Non Cash Portion Of Gain On Mortgage Loans Acquired For Sale [Abstract]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_NonCashPortionOfGainOnMortgageLoansAcquiredForSaleAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Non cash portion of gain on mortgage loans acquired for sale.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_SummaryOfMortgageServicingRightsLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Summary Of Mortgage Servicing Rights [Line Items]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_SummaryOfMortgageServicingRightsLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Summary Of Mortgage Servicing Rights [Line Items]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_SummaryOfMortgageServicingRightsLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Summary of mortgage servicing rights.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FourAprilTwentyTwentyFourMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Four April Twenty Twenty Four [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FourAprilTwentyTwentyFourMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Four april twenty twenty four.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FourAprilTwentyTwentyFourMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">April 4, 2024 [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_PaymentsOfDebtIssuanceCosts_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Payment of debt issuance costs</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_PaymentsOfDebtIssuanceCosts_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Payments of Debt Issuance Costs</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_AdjustmentsForNewAccountingPronouncementsAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Accounting Standards Update</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_AdjustmentsForNewAccountingPronouncementsAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Accounting Standards Update [Axis]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_DepositsSecuringCreditRiskTransferStripAndDerivativesLiabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Deposits securing CRT strips and derivatives liabilities</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_DepositsSecuringCreditRiskTransferStripAndDerivativesLiabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Deposits Securing Credit Risk Transfer Strip And Derivatives Liabilities</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_DepositsSecuringCreditRiskTransferStripAndDerivativesLiabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Deposits securing credit risk transfer strip derivatives liabilities.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_FairValueOptionCreditRiskGainsLossesOnAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Changes in instrument-specific credit risk</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_FairValueOptionCreditRiskGainsLossesOnAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Fair Value, Option, Credit Risk, Gains (Losses) on Assets</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_GainsLossesOnInvestmentsAndFinancingsTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Gains (losses) on investments and financings.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_GainsLossesOnInvestmentsAndFinancingsTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Gains Losses On Investments And Financings Table [Text Block]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_GainsLossesOnInvestmentsAndFinancingsTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Summary of Net (Losses) Gains on Investments and Financings</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ServicingAssetAtFairValueChangesInFairValueAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Servicing Asset At Fair Value Changes In Fair Value [Abstract]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ServicingAssetAtFairValueChangesInFairValueAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Servicing Asset At Fair Value Changes In Fair Value [Abstract]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_StockholdersEquityAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">SHAREHOLDERS&#8217; EQUITY</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_StockholdersEquityAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Equity, Attributable to Parent [Abstract]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Summary of Changes in Items Measured Using Level 3 Inputs on Recurring Basis</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_EntitySmallBusiness_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Entity Small Business</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_EntitySmallBusiness_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Entity Small Business</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_InterestAndDividendIncomeOperatingAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Interest income:</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_InterestAndDividendIncomeOperatingAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Interest and Dividend Income, Operating [Abstract]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FairValueLiabilitiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Liabilities, Total [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FairValueLiabilitiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Fair Value Liabilities [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FairValueLiabilitiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Fair value liabilities.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoansHeldForInvestmentHeldByVariableInterestEntityMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Mortgage Loans Held For Investment Held By Variable Interest Entity [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoansHeldForInvestmentHeldByVariableInterestEntityMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Mortgage loans held for investment held by variable interest entity.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoansHeldForInvestmentHeldByVariableInterestEntityMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Loans held for investment Held in consolidated VIEs [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FairValueInputsPricingSpread_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Estimated fair value inputs, Pricing spread</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FairValueInputsPricingSpread_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Fair Value Inputs Pricing Spread</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FairValueInputsPricingSpread_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Fair value inputs pricing spread.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FairValueInputsPricingSpread_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Fair value inputs, Pricing spread</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_RetainedEarningsAccumulatedDeficit_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Retained Earnings (Accumulated Deficit), Total</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_RetainedEarningsAccumulatedDeficit_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Accumulated deficit</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_RetainedEarningsAccumulatedDeficit_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Retained Earnings (Accumulated Deficit)</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_RepaymentsOfUnsecuredDebt_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Repayments of Unsecured Debt</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_RepaymentsOfUnsecuredDebt_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Repayment of unsecured senior notes</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_AggregateCashGainLossOnSaleOfMortgageLoansAcquiredForSaleNetOfCashHedgingResults_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Aggregate Cash Gain Loss On Sale Of Mortgage Loans Acquired For Sale Net Of Cash Hedging Results</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_AggregateCashGainLossOnSaleOfMortgageLoansAcquiredForSaleNetOfCashHedgingResults_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Aggregate Cash Gain Loss On Sale Of Mortgage Loans Acquired For Sale Net Of Cash Hedging Results</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_AggregateCashGainLossOnSaleOfMortgageLoansAcquiredForSaleNetOfCashHedgingResults_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Cash gain, net of effects of cash hedging, on sale of mortgage loans held for sale</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_AllocatedExpensesAndCostsPayable_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Allocated expenses and costs payable</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_AllocatedExpensesAndCostsPayable_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Allocated expenses and costs payable.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_AllocatedExpensesAndCostsPayable_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Allocated expenses and costs</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoanMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Distressed [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoanMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Mortgage Loan [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoanMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Mortgage loan.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_PreferredStockMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Preferred Stock</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_PreferredStockMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Preferred Stock [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FairValueOfCreditRiskTransferDerivatives_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Fair value of credit risk transfer derivatives.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FairValueOfCreditRiskTransferDerivatives_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Fair Value Of Credit Risk Transfer Derivatives</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FairValueOfCreditRiskTransferDerivatives_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Fair value</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_CrtArrangementFinancingMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">CRT Arrangement Financing</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_CrtArrangementFinancingMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">CRT Arrangement Financing [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_CrtArrangementFinancingMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">CRT arrangement financing.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_CrtArrangementFinancingMember_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">CRT Arrangement Financing [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FannieMaeOrFreddieMacMortgageLoansMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Fannie Mae Or Freddie Mac Mortgage Loans [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FannieMaeOrFreddieMacMortgageLoansMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Fannie Mae Or Freddie Mac Mortgage Loans [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FannieMaeOrFreddieMacMortgageLoansMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Fannie Mae or Freddie Mac mortgage loans.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ReductionInLiabilityDueToChangeInEstimate_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Reduction of liability due to change in estimate</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ReductionInLiabilityDueToChangeInEstimate_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Reduction In Liability Due To Change In Estimate</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ReductionInLiabilityDueToChangeInEstimate_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Reduction in liability due to change in estimate.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_OffsettingAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Offsetting [Abstract]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_TerminationFeesDescription_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Termination fees, description</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_TerminationFeesDescription_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Termination Fees Description</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_TerminationFeesDescription_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Description of the fee payable by the company in the event of termination of the management agreement.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_DerivativeAssetsRelatedToCreditRiskTransferDerivativesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Derivative assets related to CRT Derivatives [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_DerivativeAssetsRelatedToCreditRiskTransferDerivativesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Derivative Assets Related To Credit Risk Transfer Derivatives [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_DerivativeAssetsRelatedToCreditRiskTransferDerivativesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Derivative assets related to credit risk transfer derivatives.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoanParticipationPurchaseAndSaleAgreementAverageOutstandingBalance_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Average outstanding balance</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoanParticipationPurchaseAndSaleAgreementAverageOutstandingBalance_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Mortgage Loan Participation Purchase And Sale Agreement Average Outstanding Balance</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoanParticipationPurchaseAndSaleAgreementAverageOutstandingBalance_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Mortgage loan participation purchase and sale agreement average outstanding balance.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ServicingAdvancesPledgedToCreditors_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Servicing Advances pledged to creditors</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ServicingAdvancesPledgedToCreditors_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Servicing Advances Pledged To Creditors</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ServicingAdvancesPledgedToCreditors_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Servicing advances pledged to creditors.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoansOnRealEstateLoansCommitmentsMultiplier_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Mortgage loans commitments multiplier</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoansOnRealEstateLoansCommitmentsMultiplier_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Mortgage Loans On Real Estate Loans Commitments Multiplier</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoansOnRealEstateLoansCommitmentsMultiplier_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Mortgage loans on real estate loans commitments multiplier.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_OtherPledgedToCreditors_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Other, pledged to creditors</link:label>
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          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_OtherPledgedToCreditors_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Other pledged to creditors.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoanParticipationPurchaseAndSaleAgreementObligationsAmount_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Amount outstanding</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoanParticipationPurchaseAndSaleAgreementObligationsAmount_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Mortgage Loan Participation Purchase And Sale Agreement Obligations Amount</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoanParticipationPurchaseAndSaleAgreementObligationsAmount_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Mortgage loan participation purchase and sale agreement obligations amount.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Share-Based Compensation</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Share-Based Payment Arrangement [Text Block]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Organization, Consolidation and Presentation of Financial Statements [Abstract]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoansAtFairValue_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Asset-backed financings at fair value (1)</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoansAtFairValue_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Mortgage Loans At Fair Value</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoansAtFairValue_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Mortgage loans at fair value.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_RepurchaseAgreementCounterpartyAmountAtRisk_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Repurchase Agreement Counterparty, Amount at Risk</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_RepurchaseAgreementCounterpartyAmountAtRisk_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Amounts at risk</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_RealEstateAcquiredInSettlementOfLoansMember_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Real Estate Acquired in Settlement of Loans Pledge to Secure [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_RealEstateAcquiredInSettlementOfLoansMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Real estate acquired in settlement of loans [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_RealEstateAcquiredInSettlementOfLoansMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Real Estate Acquired In Settlement Of Loans [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_RealEstateAcquiredInSettlementOfLoansMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Real Estate Acquired In Settlement Of Loans [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_UnamortizedDebtIssuanceCosts_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Unamortized debt issuance costs</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_UnamortizedDebtIssuanceCosts_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Unamortized Debt Issuance Costs</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_UnamortizedDebtIssuanceCosts_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Unamortized debt issuance costs.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageBackedSecuritiesIncludingInterestOnlyStrippedMortgageBackedSecuritiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Mortgage-backed securities including interest-only stripped mortgage-backed securities.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageBackedSecuritiesIncludingInterestOnlyStrippedMortgageBackedSecuritiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Mortgage-Backed Securities Including Interest-Only Stripped Mortgage-Backed Securities [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageBackedSecuritiesIncludingInterestOnlyStrippedMortgageBackedSecuritiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Mortgage-Backed Securities Including Interest-Only Stripped Mortgage-Backed Securities [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_UnusualRiskOrUncertaintyNatureDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Unusual Risk or Uncertainty, Nature</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_UnusualRiskOrUncertaintyNatureDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Unusual Risk or Uncertainty, Nature [Domain]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_AmendmentFlag_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Amendment Flag</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_AmendmentFlag_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Amendment Flag</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_COVID19Member_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">COVID-19 [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_COVID19Member_lbl" xlink:role="http://www.xbrl.org/2003/role/label">C O V I D19 [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_COVID19Member_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">COVID 19.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_InterestRateLockCommitmentMeasurementInput_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Key inputs used in valuation of IRLCs</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_InterestRateLockCommitmentMeasurementInput_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Interest Rate Lock Commitment Measurement Input</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_InterestRateLockCommitmentMeasurementInput_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Interest rate lock commitment measurement input.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_PledgedAssetsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Pledged Assets [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_PledgedAssetsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Pledged Assets [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_PledgedAssetsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Pledged Assets [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="srt_ProductsAndServicesDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Product and Service</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="srt_ProductsAndServicesDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Product and Service [Domain]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ScheduleOfKeyInputsUsedInDeterminingFairValueOfIoTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Schedule of key inputs used in determining fair value of IO.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ScheduleOfKeyInputsUsedInDeterminingFairValueOfIoTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Schedule of Key Inputs Used in Determining Fair Value of Io Table [text Block]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ScheduleOfKeyInputsUsedInDeterminingFairValueOfIoTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Key Inputs Used in Determining Fair Value of IO Securities</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoansOnRealEstateInForeclosurePrincipalAmountOfDelinquentLoans_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">90 or more days delinquent, in foreclosure</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoansOnRealEstateInForeclosurePrincipalAmountOfDelinquentLoans_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Mortgage Loans On Real Estate In Foreclosure Principal Amount Of Delinquent Loans</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoansOnRealEstateInForeclosurePrincipalAmountOfDelinquentLoans_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Total unpaid principal balance of mortgage loans carried at fair value under the fair value option.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_InterestRateLockCommitmentsAndLoansHeldForSaleMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Interest Rate Lock Commitments And Loans Held For Sale [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_InterestRateLockCommitmentsAndLoansHeldForSaleMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Interest rate lock commitments and loans held for sale.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_InterestRateLockCommitmentsAndLoansHeldForSaleMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Interest rate lock commitments and loans held for sale [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FinancialInstrumentsOwnedMortgagesMortgageBackedAndAssetBackedSecuritiesValuationAdjustments_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Valuation adjustments</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FinancialInstrumentsOwnedMortgagesMortgageBackedAndAssetBackedSecuritiesValuationAdjustments_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Financial Instruments Owned Mortgages Mortgage Backed And Asset Backed Securities Valuation Adjustments</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FinancialInstrumentsOwnedMortgagesMortgageBackedAndAssetBackedSecuritiesValuationAdjustments_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Financial instruments owned mortgages mortgage backed and asset backed securities valuation adjustments.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ServicingAdvances_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Servicing Advances</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ServicingAdvances_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Advances made by a mortgage loan servicer to to meet contractual principal and interest remittance requirements for investors, pay property taxes and insurance premiums, legal expenses and other protective advances to maintain, repair and market real estate properties on behalf of investors.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ServicingAdvances_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Servicing advances</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ServicingAdvances_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Servicing advances ($67,604 and $78,430 pledged to creditors, respectively)</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_EarningsPerSharePolicyTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Earnings Per Common Share</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_EarningsPerSharePolicyTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Earnings Per Share, Policy [Policy Text Block]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_EntityAddressPostalZipCode_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Entity Address, Postal Zip Code</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_EntityAddressPostalZipCode_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Entity Address, Postal Zip Code</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivities_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Cash Provided by (Used in) Operating Activity, Including Discontinued Operation</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivities_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Net cash used in operating activities</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_RegulatoryCapitalRequirementsForMortgageCompaniesDisclosureTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Regulatory Capital and Liquidity Requirements</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_RegulatoryCapitalRequirementsForMortgageCompaniesDisclosureTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Regulatory Capital Requirements for Mortgage Companies Disclosure [Text Block]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_SegmentReportingCodmProfitLossMeasureHowUsedDescription_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Segment Reporting, CODM, Profit (Loss) Measure, How Used, Description</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_CommonStockMember_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Common Stock [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_CommonStockMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Common Shares [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_CommonStockMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Common Stock [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_NewAccountingPronouncementsOrChangeInAccountingPrincipleTable_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">New Accounting Pronouncements Or Change In Accounting Principle [Table]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_NewAccountingPronouncementsOrChangeInAccountingPrincipleTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Accounting Standards Update and Change in Accounting Principle [Table]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FinancialInstrumentsOwnedMortgagesMortgageBackedAndAssetBackedSecuritiesAtFairValueSales_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Sales</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FinancialInstrumentsOwnedMortgagesMortgageBackedAndAssetBackedSecuritiesAtFairValueSales_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Financial Instruments Owned Mortgages Mortgage Backed And Asset Backed Securities At Fair Value Sales</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FinancialInstrumentsOwnedMortgagesMortgageBackedAndAssetBackedSecuritiesAtFairValueSales_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Financial instruments owned mortgages mortgage backed and asset backed securities at fair value sales.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ExchangeableSeniorNotesDueTwoThousandAndTwentySixMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Exchangeable Senior Notes due March 15, 2026 [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ExchangeableSeniorNotesDueTwoThousandAndTwentySixMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Exchangeable Senior Notes Due Two Thousand And Twenty Six [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ExchangeableSeniorNotesDueTwoThousandAndTwentySixMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Exchangeable senior notes due two thousand and twenty six.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_SwapFuturesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Swap Futures [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_SwapFuturesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Swap Futures [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_SwapFuturesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Swap Futures [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoanParticipationPurchaseAndSaleAgreement_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Mortgage loan participation purchase and sale agreements</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoanParticipationPurchaseAndSaleAgreement_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Mortgage Loan Participation Purchase And Sale Agreement</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoanParticipationPurchaseAndSaleAgreement_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Borrowings secured by mortgage loans held for sale in the form of a mortgage loan participation purchase and sale agreement.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoanParticipationPurchaseAndSaleAgreement_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Mortgage loan participation purchase and sale agreements</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_EffectOnValueOfTwentyPercentageAdverseChangeMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Effect On Value Of Twenty Percentage Adverse Change</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_EffectOnValueOfTwentyPercentageAdverseChangeMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Effect On Value Of Twenty Percentage Adverse Change [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_EffectOnValueOfTwentyPercentageAdverseChangeMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Effect on value of 20% adverse change.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ScheduleOfComplianceWithRegulatoryCapitalRequirementsUnderBankingRegulationsTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table Text Block]</link:label>
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          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ScheduleOfComplianceWithRegulatoryCapitalRequirementsUnderBankingRegulationsTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Summary of Capital and Liquidity Amounts and Requirements by Agencies</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_SecuritiesSoldUnderAgreementsToRepurchaseWeightedAverageInterestRateAtPeriodEnd_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Weighted average interest rate</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_SecuritiesSoldUnderAgreementsToRepurchaseWeightedAverageInterestRateAtPeriodEnd_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Securities Sold Under Agreements To Repurchase Weighted Average Interest Rate At Period End</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_SecuritiesSoldUnderAgreementsToRepurchaseWeightedAverageInterestRateAtPeriodEnd_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Securities sold under agreements to repurchase weighted average interest rate at period end.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_UnpaidPrincipalBalanceOfMortgageLoansInBankruptcy_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Bankruptcy</link:label>
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          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_UnpaidPrincipalBalanceOfMortgageLoansInBankruptcy_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Represents unpaid principal balance of mortgage loans in bankruptcy.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_OtherOperatingIncomeExpenseNet_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Other</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_OtherOperatingIncomeExpenseNet_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Other Operating Income (Expense), Net</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_AmortizationOfDebtDiscountPremium_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Amortization of Debt Discount (Premium)</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_AmortizationOfDebtDiscountPremium_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Amortization of premiums</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_AmortizationOfDebtDiscountPremium_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Amortization of debt issuance costs</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_AmortizationOfDebtDiscountPremium_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Amortization of premiums</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ProceedsFromPrincipalRepaymentsOnLoansAndLeasesHeldForInvestment_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Proceeds from Principal Repayment, Loan and Lease, Held-for-Investment</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ProceedsFromPrincipalRepaymentsOnLoansAndLeasesHeldForInvestment_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Repayment of loans held for investment</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoanParticipationPurchaseAndSaleAgreementAverageBalance_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Average balance</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoanParticipationPurchaseAndSaleAgreementAverageBalance_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Mortgage Loan Participation Purchase And Sale Agreement Average Balance</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoanParticipationPurchaseAndSaleAgreementAverageBalance_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Mortgage loan participation purchase and sale agreement average balance.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_LoansAcquiredForSaleMember_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Loans acquired for sale [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_LoansAcquiredForSaleMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Loans Acquired For Sale</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_LoansAcquiredForSaleMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Loans Acquired For Sale [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_LoansAcquiredForSaleMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Loans acquired for sale.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_PortionAtFairValueFairValueDisclosureMember_lbl" xlink:role="http://fasb.org/us-gaap/role/label/axisDefault">Portion at Fair Value Measurement [Member] [Default]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_PortionAtFairValueFairValueDisclosureMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Portion at Fair Value Measurement [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_EntityAddressAddressLine1_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Entity Address, Address Line One</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_EntityAddressAddressLine1_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Entity Address, Address Line One</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ScheduleOfRelatedPartyTransactionsBaseManagementAndPerformanceIncentiveFeesEarnedTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Summary of Management Fee Expense</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ScheduleOfRelatedPartyTransactionsBaseManagementAndPerformanceIncentiveFeesEarnedTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Schedule Of Related Party Transactions Base Management And Performance Incentive Fees Earned Table [Text Block]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ScheduleOfRelatedPartyTransactionsBaseManagementAndPerformanceIncentiveFeesEarnedTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Represents amounts and disclosures relating to transactions between the company and its affiliates relating to management fees payable to the affiliate during the period and at period end.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_FairValueByFairValueHierarchyLevelAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Level 1 [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_FairValueByFairValueHierarchyLevelAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Fair Value Hierarchy and NAV [Axis]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_EarningsPerShareAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Earnings Per Share [Abstract]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_EarningsPerShareAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Earnings (loss) per common share</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_LossContingencyAccrualAtCarryingValue_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Loss Contingency Accrual</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_LossContingencyAccrualAtCarryingValue_lbl" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel">Loss Contingency Accrual, Ending Balance</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_LossContingencyAccrualAtCarryingValue_lbl" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel">Loss Contingency Accrual, Beginning Balance</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_LossContingencyAccrualAtCarryingValue_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Loss contingency accrual</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_SupplementalCashFlowInformationAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Supplemental Cash Flow Information [Abstract]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_SupplementalCashFlowInformationAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Payments, net:</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_AssetsSoldUnderAgreementsToRepurchaseLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Assets Sold under Agreements to Repurchase [Line Items]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_AssetsSoldUnderAgreementsToRepurchaseLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Assets Sold under Agreements to Repurchase [Line Items]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FairValueInputsPricingSpreadDuringPeriod_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Fair Value inputs, Pricing spread during period</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FairValueInputsPricingSpreadDuringPeriod_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Fair Value Inputs Pricing Spread During Period</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FairValueInputsPricingSpreadDuringPeriod_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Pricing spread applied to reference discount rate applied to ESS cash flows in estimating the value of ESS added during the period.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_MarginDepositAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Margin deposits</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_MarginDepositAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Margin Deposit Assets</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_DerivativeAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Derivative assets</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_DerivativeAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Total derivative assets after netting</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_DerivativeAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Derivative assets</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_FairValueConcentrationOfRiskDisclosureItemsDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Fair Value, Concentration of Risk, Disclosure Items</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_FairValueConcentrationOfRiskDisclosureItemsDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Fair Value, Concentration of Risk, Disclosure Items [Domain]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_GeneralDiscussionOfDerivativeInstrumentsAndHedgingActivitiesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">General Discussion of Derivative Instruments and Hedging Activities [Abstract]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ServicingFeesReceivable_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Servicing fees receivable</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ServicingFeesReceivable_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Servicing Fees Receivable</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ServicingFeesReceivable_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Servicing fees receivable.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ScheduleOfKeyInputsUsedInValuationOfInterestRateLockCommitmentsTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Quantitative Summary of Key Unobservable Inputs Used in Valuation of Interest Rate Lock Commitments</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ScheduleOfKeyInputsUsedInValuationOfInterestRateLockCommitmentsTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Schedule Of Key Inputs Used In Valuation Of Interest Rate Lock Commitments Table [Text Block]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ScheduleOfKeyInputsUsedInValuationOfInterestRateLockCommitmentsTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Schedule Of Key Inputs Used In Valuation Of Interest Rate Lock Commitments Table [Text Block]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ManagementFeeExpense_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Total management fee incurred during the period</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ManagementFeeExpense_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Management fees</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ManagementFeeExpense_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Management Fee Expense</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_InvestmentTypeAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Investment Type</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_InvestmentTypeAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Investment Type [Axis]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_FairValueAssetsMeasuredOnNonrecurringBasisTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Summary of Carrying Value of Financial Statement Items Remeasured Based on Fair Value on Nonrecurring Basis</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_FairValueAssetsMeasuredOnNonrecurringBasisTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Fair Value Measurements, Nonrecurring [Table Text Block]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_CreditDerivativesContractTypeDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Credit Derivatives Contract Type</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_CreditDerivativesContractTypeDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Credit Derivatives Contract Type [Domain]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ScheduleOfKeyUnobservableInputsUsedInValuationOfInterestOnlyStrippedCreditRiskTransferSecuritiesAtFairValueTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Summary of Key Unobservable Inputs Used in Valuation of Credit Risk Transfer Strip Liabilities</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ScheduleOfKeyUnobservableInputsUsedInValuationOfInterestOnlyStrippedCreditRiskTransferSecuritiesAtFairValueTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Schedule Of Key Unobservable Inputs Used In Valuation Of Interest Only Stripped Credit Risk Transfer Securities At Fair Value Table [Text Block]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ScheduleOfKeyUnobservableInputsUsedInValuationOfInterestOnlyStrippedCreditRiskTransferSecuritiesAtFairValueTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Schedule of key unobservable inputs used in valuation of interest only stripped credit risk transfer securities at fair value.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_AssetsSoldUnderAgreementsToRepurchaseMaturityPeriodsAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Repurchase Agreements and Similar Transactions, Maturity Periods</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_AssetsSoldUnderAgreementsToRepurchaseMaturityPeriodsAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Repurchase Agreements and Similar Transactions, Maturity Periods [Axis]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_IncreaseDecreaseInIncomeTaxes_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Increase (Decrease) in Income Taxes</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_IncreaseDecreaseInIncomeTaxes_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Increase (decrease) in income taxes payable</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FundedUnderUncommittedFacilitiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Funded Under Uncommitted Facilities [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FundedUnderUncommittedFacilitiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Funded Under Uncommitted Facilities [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FundedUnderUncommittedFacilitiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Funded under uncommitted facilities.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetSalesAndSettlements_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Repayments and sales</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetSalesAndSettlements_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Repayments and sales</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetSalesAndSettlements_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Sales And Settlements</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetSalesAndSettlements_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Fair value measurement with unobservable inputs reconciliation recurring basis asset sales and settlements.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ServicingAdvancesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Servicing advances [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ServicingAdvancesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Servicing Advances [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ServicingAdvancesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Servicing advances.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_DocumentType_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Document Type</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_DocumentType_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Document Type</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_IncomeTaxesPaidNet_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Income Taxes Paid, Net, Total</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_IncomeTaxesPaidNet_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Income taxes</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_IncomeTaxesPaidNet_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Income Taxes Paid, Net</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FannieCapMarketsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Fannie Cap Markets [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FannieCapMarketsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Fannie Cap Markets.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_TypeOfArrangementAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Collaborative Arrangement and Arrangement Other than Collaborative</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_TypeOfArrangementAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Collaborative Arrangement and Arrangement Other than Collaborative [Axis]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_AggregationAndSecuritizationCosts_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Aggregation and securitization costs</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_AggregationAndSecuritizationCosts_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Aggregation and securitization costs.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_AggregationAndSecuritizationCosts_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Aggregation and securitization costs</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ScheduleOfContractuallySpecifiedServicingFeesTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Summary of Net Loan Servicing Fees Relating to MSRs</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ScheduleOfContractuallySpecifiedServicingFeesTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Schedule Of Contractually Specified Servicing Fees Table [Text Block]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ScheduleOfContractuallySpecifiedServicingFeesTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Schedule Of Contractually Specified Servicing Fees [Table Text Block]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_InterestOnConvertibleDebtNetOfTax_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Interest on Exchangeable Notes, net of income taxes</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_InterestOnConvertibleDebtNetOfTax_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Interest on Convertible Debt, Net of Tax</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_BaseMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Base [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_BaseMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Base [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_BaseMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Base [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_BaseMember_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Base management fee [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ArrangementsAndNonarrangementTransactionsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Collaborative Arrangement and Arrangement Other than Collaborative</link:label>
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          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoanParticipationPurchaseAndSalesAgreementMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Mortgage Loan Participation Purchase And Sales Agreement [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoanParticipationPurchaseAndSalesAgreementMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Mortgage loan participation purchase and sales agreement.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_EntityCentralIndexKey_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Entity Central Index Key</link:label>
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          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ShareBasedCompensationArrangementByShareBasedPaymentAwardAverageRemainingVestingPeriods_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Average remaining vesting period (in months)</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ShareBasedCompensationArrangementByShareBasedPaymentAwardAverageRemainingVestingPeriods_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Share Based Compensation Arrangement By Share Based Payment Award Average Remaining Vesting Periods</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ShareBasedCompensationArrangementByShareBasedPaymentAwardAverageRemainingVestingPeriods_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Share based compensation arrangement by share based payment award average remaining vesting periods.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_NetGainsLossesOnInvestmentsAndFinancings_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Net gains (losses) on investments and financings</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_NetGainsLossesOnInvestmentsAndFinancings_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Net Gains Losses On Investments And Financings</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_NetGainsLossesOnInvestmentsAndFinancings_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Net gains (losses) on investments and financings.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_NetGainsLossesOnInvestmentsAndFinancings_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Net gains (losses) on investments and financings</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_NetGainsLossesOnInvestmentsAndFinancings_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Net (losses) gains on investments and financings</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_InvestmentsDebtAndEquitySecuritiesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Investments, Debt and Equity Securities [Abstract]</link:label>
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          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_NonAffiliatesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Non Affiliates [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_NonAffiliatesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Non affiliates.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_TwentyTwentyMSRRecaptureAgreementMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">2020 MSR Recapture Agreement [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_TwentyTwentyMSRRecaptureAgreementMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Twenty Twenty M S R Recapture Agreement [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_TwentyTwentyMSRRecaptureAgreementMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">2020 MSR recapture agreement.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Cash, Cash Equivalent, Restricted Cash, and Restricted Cash Equivalent, Period Increase (Decrease), Including Exchange Rate Effect and Discontinued Operation</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Net decrease in cash</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_GovernmentGuaranteedSecuritiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Government Guaranteed Securities [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_GovernmentGuaranteedSecuritiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Government Guaranteed Securities [Member]</link:label>
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          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_SubsequentEventTypeDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Subsequent Event Type [Domain]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_RoyalBankOfCanadaCapitalMarketsLPMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">RBC Capital Markets, L.P. [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_RoyalBankOfCanadaCapitalMarketsLPMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Royal Bank Of Canada Capital Markets L P [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_RoyalBankOfCanadaCapitalMarketsLPMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Royal Bank of Canada Capital Markets, L.P.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_InterestIncomeOperating_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Interest income</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_InterestIncomeOperating_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Interest income</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_InterestIncomeOperating_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Interest Income, Operating</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Shares issuable under share-based compensation plan</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Potentially dilutive stock excluded from the diluted earnings per share</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_StockRepurchasedAndRetiredDuringPeriodShares_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Common shares repurchased</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_StockRepurchasedAndRetiredDuringPeriodShares_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Repurchase of common shares, Shares</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_StockRepurchasedAndRetiredDuringPeriodShares_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Stock Repurchased and Retired During Period, Shares</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ServicingAssetAtFairValueChangesInFairValueResultingFromChangesInValuationInputsOrChangesInAssumptions_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Servicing Asset at Fair Value, Changes in Fair Value Resulting from Changes in Valuation Inputs or Changes in Assumptions, Total</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ServicingAssetAtFairValueChangesInFairValueResultingFromChangesInValuationInputsOrChangesInAssumptions_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Due to changes in inputs used in valuation model</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ServicingAssetAtFairValueChangesInFairValueResultingFromChangesInValuationInputsOrChangesInAssumptions_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Servicing Asset at Fair Value, Changes in Fair Value Resulting from Changes in Valuation Inputs or Changes in Assumptions</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ShortTermDebtTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Short-Term Debt</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ShortTermDebtTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Short-Term Debt [Text Block]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_CommonStockParOrStatedValuePerShare_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Common shares, par value</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_CommonStockParOrStatedValuePerShare_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Common Stock, Par or Stated Value Per Share</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ReitQualificationThresholdPercentageOfTaxableIncomeForDistribution_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Percentage of taxable income for distributions</link:label>
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          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ReitQualificationThresholdPercentageOfTaxableIncomeForDistribution_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Represents the portion of the Company's taxable income that is required to distribute at in the form of qualifying distributions to shareholders to retain its REIT status.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ScheduleOfCapitalizationEquityLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Schedule Of Capitalization Equity [Line Items]</link:label>
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          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_TypeOfAdoptionMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Accounting Standards Update</link:label>
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          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_TwentySecondDecemberTwentyTwentyFiveMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Twenty Second December Twenty Twenty Five [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_TwentySecondDecemberTwentyTwentyFiveMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">December 22, 2025.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_TwentySecondDecemberTwentyTwentyFiveMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">December 22, 2025 [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_SecuritiesSoldUnderAgreementsToRepurchaseWeightedAverageInterestRateDuringPeriod_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Weighted average interest rate</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_SecuritiesSoldUnderAgreementsToRepurchaseWeightedAverageInterestRateDuringPeriod_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Securities Sold Under Agreements To Repurchase Weighted Average Interest Rate During Period</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_SecuritiesSoldUnderAgreementsToRepurchaseWeightedAverageInterestRateDuringPeriod_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Securities sold under agreements to repurchase weighted average interest rate during period.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_LiabilitiesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">LIABILITIES</link:label>
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          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_FinancingReceivableRecordedInvestmentLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Financing Receivable Recorded Investment [Line Items]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_FinancingReceivableRecordedInvestmentLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Financing Receivable, Credit Quality Indicator [Line Items]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_UnsecuredEightPointFiveZeroPercentageSeniorNotesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Unsecured Eight Point Five Zero Percentage Senior Notes [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_UnsecuredEightPointFiveZeroPercentageSeniorNotesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Unsecured 8.50% senior notes.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_UnsecuredEightPointFiveZeroPercentageSeniorNotesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Unsecured 8.50% Senior Notes [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_InterestExpenseNotesPayableSecuredByCreditRiskTransferAndMortgageServicingAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Notes payable secured by credit risk transfer and mortgage servicing assets</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_InterestExpenseNotesPayableSecuredByCreditRiskTransferAndMortgageServicingAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Interest Expense Notes Payable Secured By Credit Risk Transfer And Mortgage Servicing Assets</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_InterestExpenseNotesPayableSecuredByCreditRiskTransferAndMortgageServicingAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Interest expense notes payable secured by credit risk transfer and mortgage servicing assets.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoansAtFairValueAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Mortgage Loans At Fair Value [Abstract]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoansAtFairValueAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Mortgage Loans At Fair Value [Abstract]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoansAtFairValueAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Mortgage loans at fair value.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ScheduleOfCorrespondentProductionActivityAffiliateTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Schedule Of Correspondent Production Activity Affiliate Table [Text Block]</link:label>
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          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_FairValueAdjustmentDisclosureAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Fair Value, Adjustment Disclosure [Abstract]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_FairValueAdjustmentDisclosureAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Changes in fair value included in income arising from:</link:label>
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          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ReimbursementOfCompensationToAffiliates_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Compensation</link:label>
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          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ReimbursementOfCompensationToAffiliates_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Reimbursement of compensation to affiliates.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_FairValueConcentrationOfRiskDisclosureItemsAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Concentration of Credit or Market Risk</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_FairValueConcentrationOfRiskDisclosureItemsAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Concentration of Credit or Market Risk [Axis]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoansHeldForInvestmentMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Mortgage Loans held for investment [Member]</link:label>
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          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_PaymentsToPurchaseMortgageLoansHeldForSaleAffiliates_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Payments To Purchase Mortgage Loans Held For Sale Affiliates</link:label>
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          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MorganStanleyAndCompanyLLCMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Morgan Stanley And Company. LLC.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MeasurementInputVoluntaryPrepaymentSpeedMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Voluntary Prepayment Speed [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MeasurementInputVoluntaryPrepaymentSpeedMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Measurement Input Voluntary Prepayment Speed [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MeasurementInputVoluntaryPrepaymentSpeedMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Measurement input voluntary prepayment speed.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_DerivativeFairValueOfAssetMasterNettingAdjustment_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Derivative assets, Netting</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_DerivativeFairValueOfAssetMasterNettingAdjustment_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Derivative assets, Netting</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_DerivativeFairValueOfAssetMasterNettingAdjustment_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Derivative Fair Value Of Asset Master Netting Adjustment</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_DerivativeFairValueOfAssetMasterNettingAdjustment_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Derivative fair value of asset master netting adjustment.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_DebtDisclosureAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Debt Disclosure [Abstract]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoansAcquiredForSaleOutstandingContractualPurchaseCommitments_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Commitments to purchase loans acquired for sale</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoansAcquiredForSaleOutstandingContractualPurchaseCommitments_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Mortgage Loans Acquired For Sale Outstanding Contractual Purchase Commitments</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoansAcquiredForSaleOutstandingContractualPurchaseCommitments_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Represents disclosure of amount of the company's contractual commitments to purchase recently originated mortgage loans.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ScheduleOfDerivativeInstrumentsTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Schedule of Derivative Instruments [Table Text Block]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ScheduleOfDerivativeInstrumentsTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Derivative Assets and Derivative and Credit Risk Transfer Strip Liabilities at Fair Value and Related Margin Deposits</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FairValueUnobservableInputsDiscountRate_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Key inputs used in fair value for CRT agreements</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FairValueUnobservableInputsDiscountRate_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Fair Value Unobservable Inputs Discount Rate</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FairValueUnobservableInputsDiscountRate_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Fair value unobservable inputs discount rate.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoanServicingFeesPayable_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Mortgage loan servicing fees payable</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoanServicingFeesPayable_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Loan servicing fees</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoanServicingFeesPayable_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Mortgage Loan Servicing Fees Payable</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoanServicingFeesPayable_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Mortgage loan servicing fees payable.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FourJuneTwoThousandTwentyFourMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Four june two thousand twenty four [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FourJuneTwoThousandTwentyFourMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Four june two thousand twenty four.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FourJuneTwoThousandTwentyFourMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">June 4, 2024 [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_EstimateOfFairValueFairValueDisclosureMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Fair Value [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_EstimateOfFairValueFairValueDisclosureMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Estimate of Fair Value Measurement [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_DerivativeNotionalAmount_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Notional amount</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_DerivativeNotionalAmount_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Derivative, Notional Amount</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ServicingAssetAtFairValueOtherChangesInFairValue_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Other changes in fair value</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ServicingAssetAtFairValueOtherChangesInFairValue_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Servicing Asset at Fair Value, Other Changes in Fair Value</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_FinancialInstrumentPerformanceStatusDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Financial Instrument Performance Status</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_FinancialInstrumentPerformanceStatusDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Financial Instrument Performance Status [Domain]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ReclassificationFromAdditionalPaidInCapitalToCarryingValueOfExchangeableNotes_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Reclassification from additional paid-in capital to carrying value of exchangeable notes</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ReclassificationFromAdditionalPaidInCapitalToCarryingValueOfExchangeableNotes_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Reclassification From Additional Paid In Capital To Carrying Value Of Exchangeable Notes</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ReclassificationFromAdditionalPaidInCapitalToCarryingValueOfExchangeableNotes_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Reclassification from additional paid-in capital to carrying value of exchangeable notes.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_CurrentFiscalYearEndDate_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Current Fiscal Year End Date</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_CurrentFiscalYearEndDate_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Current Fiscal Year End Date</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_DebtInstrumentTable_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Debt Instrument [Table]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_DebtInstrumentTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Schedule of Long-Term Debt Instruments [Table]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_GainsLossesOnSalesOfOtherRealEstate_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Results of real estate acquired in settlement of loans</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_GainsLossesOnSalesOfOtherRealEstate_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Results of real estate acquired in settlement of loans</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_GainsLossesOnSalesOfOtherRealEstate_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Gains (Losses) on Sales of Other Real Estate</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_AverageBalanceDuringPeriodForLoansHeldInAVIE_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Average Balance During Period For Loans Held In A V I E</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_AverageBalanceDuringPeriodForLoansHeldInAVIE_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Average balance during period for loans held in A VIE</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_AverageBalanceDuringPeriodForLoansHeldInAVIE_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Average MSR portfolio unpaid principal balance</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ScheduleOfChangesInFairValueChangesIncludedInCurrentPeriodIncomeTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Schedule of financial statement items accounted for under the fair value option changes in fair value included in current period income.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ScheduleOfChangesInFairValueChangesIncludedInCurrentPeriodIncomeTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Schedule Of Changes In Fair Value Changes Included In Current Period Income Table [Text Block]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ScheduleOfChangesInFairValueChangesIncludedInCurrentPeriodIncomeTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Summary of Changes in Fair Value Included in Current Period Income</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ScheduleOfChangesInFairValueChangesIncludedInCurrentPeriodIncomeTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Summary of Changes in Fair Value Included in Current Period Results of Operations</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_DocumentQuarterlyReport_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Document Quarterly Report</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_DocumentQuarterlyReport_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Document Quarterly Report</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_FairValueAssetRecurringBasisStillHeldUnrealizedGainLossStatementOfIncomeExtensibleList_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_OtherCostAndExpenseOperating_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Other</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_OtherCostAndExpenseOperating_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Other Cost and Expense, Operating</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_GoldmanSachsCoLLCMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Goldman Sachs &amp; Co. LLC [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_GoldmanSachsCoLLCMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Goldman Sachs Co L L C [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_GoldmanSachsCoLLCMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Goldman Sachs &amp; Co. LLC.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_PaymentsToCreditRiskTransferLosses_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Payments To Credit Risk Transfer Losses</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_PaymentsToCreditRiskTransferLosses_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Represents the cash payments from the contractually restricted cash account collateralizing credit event losses to the net derivative counterparty pursuant to credit risk transfer transactions.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_PaymentsToCreditRiskTransferLosses_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Net payments made to settle losses on credit risk transfer arrangements</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_PreferredStockDiscountOnShares_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Issuance discount</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_PreferredStockDiscountOnShares_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Preferred Stock, Discount on Shares</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_FairValueByBalanceSheetGroupingTable_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Fair Value By Balance Sheet Grouping [Table]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_FairValueByBalanceSheetGroupingTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Fair Value, by Balance Sheet Grouping [Table]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_EntityAddressStateOrProvince_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Entity Address, State or Province</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_EntityAddressStateOrProvince_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Entity Address, State or Province</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_StockIssuedDuringPeriodValueConversionOfConvertibleSecurities_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Recognition of cash conversion option included in issuance of exchangeable senior notes, Amount</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_StockIssuedDuringPeriodValueConversionOfConvertibleSecurities_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Stock Issued During Period, Value, Conversion of Convertible Securities</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_AssetSoldUnderAgreementsToRepurchaseMaximumDailyAmountOutstanding_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Maximum daily amount outstanding</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_AssetSoldUnderAgreementsToRepurchaseMaximumDailyAmountOutstanding_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Asset Sold Under Agreements To Repurchase Maximum Daily Amount Outstanding</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_AssetSoldUnderAgreementsToRepurchaseMaximumDailyAmountOutstanding_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Asset sold under agreements to repurchase maximum daily amount outstanding.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_AssetBackedSecurityFinancingsOfVariableInterestEntitiesLiabilityAtFairValue_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Asset-backed security financings of variable interest entities liability at fair value</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_AssetBackedSecurityFinancingsOfVariableInterestEntitiesLiabilityAtFairValue_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Asset-backed security financings of variable interest entities liability at fair value.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_AssetBackedSecurityFinancingsOfVariableInterestEntitiesLiabilityAtFairValue_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Asset-backed financings of the variable interest entities</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_FinancialInstrumentPerformanceStatusAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Financial Instrument Performance Status</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_FinancialInstrumentPerformanceStatusAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Financial Instrument Performance Status [Axis]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_RealizedGainsLossesRecognizedOnCreditRiskTransferStrips_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Realized</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_RealizedGainsLossesRecognizedOnCreditRiskTransferStrips_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Realized Gains Losses Recognized On Credit Risk Transfer Strips</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_RealizedGainsLossesRecognizedOnCreditRiskTransferStrips_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Realized gains losses recognized on credit risk transfer strips.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_FinancialLiabilitiesFairValueDisclosure_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Total liabilities</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_FinancialLiabilitiesFairValueDisclosure_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Financial Liabilities Fair Value Disclosure</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_PreferredStockSharesOutstanding_lbl" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel">Preferred Stock, Shares Outstanding, Ending Balance</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_PreferredStockSharesOutstanding_lbl" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel">Preferred Stock, Shares Outstanding, Beginning Balance</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_PreferredStockSharesOutstanding_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Preferred stock, shares outstanding</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_PreferredStockSharesOutstanding_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Preferred Stock, Shares Outstanding</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FixedInterestRateJumboMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Fixed interest rate jumbo loans held in a VIE [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FixedInterestRateJumboMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Fixed Interest Rate Jumbo [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FixedInterestRateJumboMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Fixed interest rate jumbo.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_AssetsSoldUnderAgreementsToRepurchaseMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Assets Sold Under Agreements to Repurchase [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_AssetsSoldUnderAgreementsToRepurchaseMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Assets Sold Under Agreements To Repurchase [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_AssetsSoldUnderAgreementsToRepurchaseMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Assets Sold Under Agreements To Repurchase [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_UnpaidPrincipalBalanceBeforeUnamortizedDebtIssuanceCostsAdjustmentMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Unpaid Principal Balance Before Unamortized Debt Issuance Costs Adjustment [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_UnpaidPrincipalBalanceBeforeUnamortizedDebtIssuanceCostsAdjustmentMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Unpaid Principal Balance Before Unamortized Debt Issuance Costs Adjustment [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_UnpaidPrincipalBalanceBeforeUnamortizedDebtIssuanceCostsAdjustmentMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Unpaid principal balance before unamortized debt issuance costs adjustment.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_RisksAndUncertaintiesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Risks and Uncertainties [Abstract]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_FairValueRecurringBasisUnobservableInputReconciliationAssetGainLossStatementOfIncomeExtensibleList_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Fair Value, Asset, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_SafekeepingExpense_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Safekeeping</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_SafekeepingExpense_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Safekeeping Expense</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_SafekeepingExpense_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Expense incurred for the safekeeping of loan documents.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_SummaryOfCashFlowsBetweenCompanyAndTransfereesUponSaleOfLoansInTransactionsTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Summary of Cash Flows between Company and Transferees in Transfers Accounted for Sales</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_SummaryOfCashFlowsBetweenCompanyAndTransfereesUponSaleOfLoansInTransactionsTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Summary Of Cash Flows Between Company And Transferees Upon Sale Of Loans In Transactions Table [Text Block]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_SummaryOfCashFlowsBetweenCompanyAndTransfereesUponSaleOfLoansInTransactionsTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Summary of cash flows between company and transferees in transfers accounted for sales.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_LiabilityForRepresentationsAndWarrantiesDisclosureTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Liability for Losses Under Representations and Warranties</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_LiabilityForRepresentationsAndWarrantiesDisclosureTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Liability For Representations And Warranties Disclosure [Text Block]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_LiabilityForRepresentationsAndWarrantiesDisclosureTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">The entire disclosure representing the liability of the entity under the representations and warranties made to purchasers of the loans it sells.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_OtherCounterpartiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Other [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_OtherCounterpartiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Other Counterparties [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_OtherCounterpartiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Other Counterparties [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ScheduleOfMortgageBackedSecuritiesPledgedToSecureAssetsSoldTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Schedule of Mortgage Backed Securities Pledged to Secure Assets Sold</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ScheduleOfMortgageBackedSecuritiesPledgedToSecureAssetsSoldTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Schedule Of Mortgage Backed Securities Pledged To Secure Assets Sold Table [Text Block]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ScheduleOfMortgageBackedSecuritiesPledgedToSecureAssetsSoldTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Schedule of mortgage backed securities pledged to secure assets sold.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_CumulativeDividendsFromDateOfOriginalIssuanceToMarchFourteenTwoThousandTwentyFourMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Date Of Original Issuance To March 14, 2024 [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_CumulativeDividendsFromDateOfOriginalIssuanceToMarchFourteenTwoThousandTwentyFourMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Cumulative Dividends From Date Of Original Issuance To March Fourteen Two Thousand Twenty Four [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_CumulativeDividendsFromDateOfOriginalIssuanceToMarchFourteenTwoThousandTwentyFourMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Cumulative Dividends From Date Of Original Issuance To March Fourteen Two Thousand Twenty Four.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FinancialInstrumentsOwnedMortgagesMortgageBackedAndAssetBackedSecuritiesPurchasePremiumsDiscountsNet_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Financial instruments owned mortgages mortgage backed and asset backed securities purchase premiums (discounts), net</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FinancialInstrumentsOwnedMortgagesMortgageBackedAndAssetBackedSecuritiesPurchasePremiumsDiscountsNet_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Financial instruments owned mortgages mortgage backed and asset backed securities purchase premiums (discounts), net.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FinancialInstrumentsOwnedMortgagesMortgageBackedAndAssetBackedSecuritiesPurchasePremiumsDiscountsNet_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Purchase premiums (discounts), net</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_TwentyFourMayTwoThousandTwentyFourMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Twenty Four May Two Thousand Twenty Four [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_TwentyFourMayTwoThousandTwentyFourMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Twenty four may two thousand twenty four.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_TwentyFourMayTwoThousandTwentyFourMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">May 24, 2024 [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ProfessionalFees_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Professional services</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ProfessionalFees_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Professional Fees</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_InterestExpenseOnMortgageLoanImpoundDeposits_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Interest on loan impound deposits</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_InterestExpenseOnMortgageLoanImpoundDeposits_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Interest Expense On Mortgage Loan Impound Deposits</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_InterestExpenseOnMortgageLoanImpoundDeposits_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Represents interest expense incurred by the company paid to borrowers' impound accounts relating to borrower funds held in escrow to pay hazard insurance and property taxes on the properties securing the mortgage loans.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_PreferredStockRedemptionPricePerShare_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Preferred stock redemption price per share</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_PreferredStockRedemptionPricePerShare_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Preferred Stock, Redemption Price Per Share</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_PledgedFinancialInstrumentsNotSeparatelyReportedAndAssetsSeparatelyReportedOnStatementAtFairValue_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Loans pledged to secure total</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_PledgedFinancialInstrumentsNotSeparatelyReportedAndAssetsSeparatelyReportedOnStatementAtFairValue_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Pledged Financial Instruments Not Separately Reported And Assets Separately Reported On Statement At Fair Value</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_PledgedFinancialInstrumentsNotSeparatelyReportedAndAssetsSeparatelyReportedOnStatementAtFairValue_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Pledged financial instruments not separately reported and assets separately reported on statement at fair value.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_NotesPayableSecuredByCreditRiskTransferAndMortageServicingAsset_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Notes payable secured by credit risk transfer and mortgage servicing assets</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_NotesPayableSecuredByCreditRiskTransferAndMortageServicingAsset_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Notes Payable Secured By Credit Risk Transfer And Mortage Servicing Asset</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_NotesPayableSecuredByCreditRiskTransferAndMortageServicingAsset_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Notes payable secured by credit risk transfer and mortgage servicing assets.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_PerformanceSharesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Performance Share Units [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_PerformanceSharesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Performance Shares Units [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_PerformanceSharesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Performance Shares [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FairValueInputsAnnualPerLoanCostOfServicing_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Estimated fair value inputs, Annual per-loan cost of servicing</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FairValueInputsAnnualPerLoanCostOfServicing_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Fair Value Inputs Annual Per Loan Cost Of Servicing</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FairValueInputsAnnualPerLoanCostOfServicing_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Annual per loan cost of servicing. fair value input relating to mortgage loans underlying MSRs accounted for at fair value.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_PaymentsForProceedsFromDerivativeInstrumentInvestingActivities_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Payments for (Proceeds from) Derivative Instrument, Investing Activities, Total</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_PaymentsForProceedsFromDerivativeInstrumentInvestingActivities_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Net settlement of derivative financial instruments</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_PaymentsForProceedsFromDerivativeInstrumentInvestingActivities_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Payments for (Proceeds from) Derivative Instrument, Investing Activities</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_LongTermDebtFairValue_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Notes payable</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_LongTermDebtFairValue_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Long-Term Debt, Fair Value</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_SubsequentEventMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Subsequent Event</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_SubsequentEventMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Subsequent Event [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_DelinquentAmountAtEndOfPeriodOnLoansManagedAndSecuritizedThirtyToEightyNineDaysDelinquent_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">30-89 days delinquent</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_DelinquentAmountAtEndOfPeriodOnLoansManagedAndSecuritizedThirtyToEightyNineDaysDelinquent_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Delinquent Amount At End Of Period On Loans Managed And Securitized Thirty To Eighty Nine Days Delinquent</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_DelinquentAmountAtEndOfPeriodOnLoansManagedAndSecuritizedThirtyToEightyNineDaysDelinquent_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Delinquent Amount At End Of Period On Loans Managed And Securitized Thirty To Eighty Nine Days Delinquent</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ServicingAssetAtFairValueDisposals_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Sales</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ServicingAssetAtFairValueDisposals_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Servicing Asset at Fair Value, Disposals</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_TransferOfFinancialAssetsAccountedForAsSalesLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Transfer Of Financial Assets Accounted For As Sales [Line Items]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_TransferOfFinancialAssetsAccountedForAsSalesLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Transfer of Financial Assets Accounted for as Sales [Line Items]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageBackedSecuritiesTable_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Mortgage Backed Securities [Table]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageBackedSecuritiesTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Mortgage Backed Securities [Table]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageBackedSecuritiesTable_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Mortgage backed securities.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_InterestExpenseOperating_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Interest expense</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_InterestExpenseOperating_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Interest Expense, Operating</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_InterestExpenseOperating_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Interest expense, total</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net, Total</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Unamortized debt issuance costs</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Unamortized debt issuance costs</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTable_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Table]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Fair Value Measurement Inputs and Valuation Techniques [Table]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_DelinquentAmountAtEndOfPeriodOnLoansManagedAndSecuritizedNinetyToOneHundredAndEighty_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">90-180 days delinquent</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_DelinquentAmountAtEndOfPeriodOnLoansManagedAndSecuritizedNinetyToOneHundredAndEighty_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Delinquent Amount At End Of Period On Loans Managed And Securitized Ninety To One Hundred And Eighty</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_DelinquentAmountAtEndOfPeriodOnLoansManagedAndSecuritizedNinetyToOneHundredAndEighty_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Delinquent amount at end of period on loans managed and securitized ninety to one hundred and eighty.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_UnsecuredDebt_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Unsecured Debt</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_UnsecuredDebt_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Unsecured Debt, Total</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_UnsecuredDebt_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Unsecured senior notes</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_InterestRateLockCommitmentsWithPennymacFinancialServicesIncMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Interest Rate Lock Commitments with Pennymac Financial Services, Inc [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_InterestRateLockCommitmentsWithPennymacFinancialServicesIncMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Interest rate lock commitments with pennymac financial services, inc.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_InterestRateLockCommitmentsWithPennymacFinancialServicesIncMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Interest Rate Lock Commitments with PFSI [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_PreferredStockDividendsPerShareCashPaid_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Dividends per share</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_PreferredStockDividendsPerShareCashPaid_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Preferred Stock, Dividends, Per Share, Cash Paid</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_TwentyFiveAprilTwoThousandEighteenMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">April 25, 2018 [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_TwentyFiveAprilTwoThousandEighteenMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Twenty Five April Two Thousand Eighteen [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_TwentyFiveAprilTwoThousandEighteenMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Twenty five april two thousand eighteen.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_DerivativeAndCreditRiskTransferStripLiabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Total derivative and credit risk transfer strip liabilities</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_DerivativeAndCreditRiskTransferStripLiabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Derivative And Credit Risk Transfer Strip Liabilities</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_DerivativeAndCreditRiskTransferStripLiabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Derivative and credit risk transfer strip liabilities.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_DerivativeAndCreditRiskTransferStripLiabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Derivative and credit risk transfer strip liabilities with nonaffiliates at fair value</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_RecognitionOfAssetBackedFinancingsResultingFromInitialConsolidationOfVariableInterestEntity_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Recognition of asset-backed financings resulting from initial consolidation of VIEs</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_RecognitionOfAssetBackedFinancingsResultingFromInitialConsolidationOfVariableInterestEntity_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Recognition Of Asset Backed Financings Resulting From Initial Consolidation Of Variable Interest Entity</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_RecognitionOfAssetBackedFinancingsResultingFromInitialConsolidationOfVariableInterestEntity_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Recognition of asset backed financings resulting from initial consolidation of variable interest entity.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Vesting percentage</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Rights, Percentage</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ProceedsFromSaleAndRepaymentsOfMortgageBackedSecurities_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Proceeds From Sale And Repayments Of Mortgage Backed Securities</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ProceedsFromSaleAndRepaymentsOfMortgageBackedSecurities_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Proceeds from sale and repayments of mortgage backed securities.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ProceedsFromSaleAndRepaymentsOfMortgageBackedSecurities_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Sale and repayment of mortgage-backed securities</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_BasisOfPresentationAndSignificantAccountingPoliciesTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Basis of Presentation and Significant Accounting Policies [Text Block]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_BasisOfPresentationAndSignificantAccountingPoliciesTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Basis of Presentation</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_CreditAgreementsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Credit agreements.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_CreditAgreementsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Credit Agreements [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_DebtSecurities_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Loans acquired for sale pledged to secure</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_DebtSecurities_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Debt Securities</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_DebtSecurities_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Debt Securities, Total</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_PurchaseCommitmentExcludingLongtermCommitmentAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Purchase Commitment, Excluding Long-term Commitment</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_PurchaseCommitmentExcludingLongtermCommitmentAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Purchase Commitment, Excluding Long-Term Commitment [Axis]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_SecuredTermNotesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Secured term notes.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_SecuredTermNotesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Secured Term Notes</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_SecuredTermNotesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Secured Term Notes [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FairValueInputCostOfServicingMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Cost of Servicing [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FairValueInputCostOfServicingMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Fair Value Input Cost Of Servicing [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FairValueInputCostOfServicingMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Cost of servicing.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_MinimumNetWorthRequiredForCompliance_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Minimum net worth amount</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_MinimumNetWorthRequiredForCompliance_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Banking Regulation, Mortgage Banking, Net Worth, Minimum</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_RelatedPartyTransactionAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Related Party Transaction [Axis]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_DerivativeLiabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Derivative liabilities</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_DerivativeLiabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Total derivative liabilities after netting</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_DerivativeLiabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Derivative Liability</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_DerivativeLiabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Derivative liabilities with PennyMac Financial Services, Inc.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_InterestOnlySecurityPayableAtFairValue_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Interest Only Security Payable At Fair Value</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_InterestOnlySecurityPayableAtFairValue_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Represents the fair value of interest-only strip securities classified as a liability.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_InterestOnlySecurityPayableAtFairValue_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Interest-only security payable at fair value</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_InterestOnlySecurityPayableAtFairValue_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Interest-only security payable at fair value</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_InterestOnlySecurityPayableAtFairValue_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Interest-only security payable at fair value</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_LoanServicingFeesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Net Loan Servicing fees [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_LoanServicingFeesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Loan Servicing Fees [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_LoanServicingFeesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Loan Servicing Fees [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_LoanProcessingFee_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Loan origination</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_LoanProcessingFee_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Loan Processing Fee</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_AssetsSoldUnderAgreementsToRepurchaseMarketValue_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Assets Sold under Agreements to Repurchase, Market Value</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_AssetsSoldUnderAgreementsToRepurchaseMarketValue_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Assets sold under agreements to repurchase</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_AssetsSoldUnderAgreementsToRepurchaseMarketValue_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Loans pledged to secure Assets sold under agreements to repurchase</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_AdjustableRateMortgagesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Adjustable rate mortgage loans [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_AdjustableRateMortgagesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Adjustable Rate Mortgages [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_AdjustableRateMortgagesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Adjustable Rate Mortgages [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_DelinquentAmountAtEndOfPeriodOnLoansManagedAndSecuritizedOneHundredAndEightyOrMore_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">180 or more days delinquent</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_DelinquentAmountAtEndOfPeriodOnLoansManagedAndSecuritizedOneHundredAndEightyOrMore_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Delinquent Amount At End Of Period On Loans Managed And Securitized One Hundred And Eighty Or More</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_DelinquentAmountAtEndOfPeriodOnLoansManagedAndSecuritizedOneHundredAndEightyOrMore_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Delinquent amount at end of period on loans managed and securitized one hundred and eighty or more.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ComplianceWithRegulatoryCapitalRequirementsForMortgageCompaniesLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Compliance with Regulatory Capital Requirements for Mortgage Companies [Line Items]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ComplianceWithRegulatoryCapitalRequirementsForMortgageCompaniesLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Compliance with Regulatory Capital Requirements for Mortgage Companies [Line Items]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_PreferredStockValue_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Carrying value</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_PreferredStockValue_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Preferred Stock, Value, Issued</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_PreferredStockValue_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Preferred shares of beneficial interest, $0.01 par value per share - authorized 100,000,000 shares, issued and outstanding 22,400,000, liquidation preference $560,000,000</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ElevenJuneTwoThousandNineteenMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">June 11, 2019 [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ElevenJuneTwoThousandNineteenMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Eleven June Two Thousand Nineteen [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ElevenJuneTwoThousandNineteenMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Eleven June Two Thousand Nineteen.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_DebtInstrumentMaturityDate_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Maturity date, Stated</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_DebtInstrumentMaturityDate_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Maturity date of debt instrument</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_DebtInstrumentMaturityDate_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Debt Instrument, Maturity Date</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_AgencyConformingLoansSecuredByOwnerOccupiedPropertiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Agency Conforming Loans Secured By Owner Occupied Properties [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_AgencyConformingLoansSecuredByOwnerOccupiedPropertiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Agency conforming loans secured by owner occupied properties.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_AgencyConformingLoansSecuredByOwnerOccupiedPropertiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Owner occupied properties [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="srt_MinimumMember_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Minimum [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="srt_MinimumMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Minimum [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="srt_MinimumMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Minimum [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageServicingRightsRecaptureFromAffiliate_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">From PennyMac Financial Services, Inc.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageServicingRightsRecaptureFromAffiliate_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Mortgage Servicing Rights Recapture From Affiliate</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageServicingRightsRecaptureFromAffiliate_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Represents MSR recapture earned from an affiliate under a recapture agreement during the period. Recapture amounts represent fees earned relating to mortgage loans subject to existing excess servicing spread that are refinanced by the affiliate.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MetroLifeInsCoMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Metro Life Ins Co [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MetroLifeInsCoMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Metro Life Ins Co.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_FinancialInstrumentAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Financial Instrument</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_FinancialInstrumentAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Financial Instrument [Axis]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_DerivativeFairValueOfDerivativeAsset_lbl" xlink:role="http://www.xbrl.org/2009/role/netLabel">Total derivatives assets before netting</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_DerivativeFairValueOfDerivativeAsset_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Derivative assets</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_DerivativeFairValueOfDerivativeAsset_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Derivative Asset, Subject to Master Netting Arrangement, before Offset</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_DerivativeFairValueOfDerivativeAsset_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Derivative assets</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_InterestExpenseOther_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Other</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_InterestExpenseOther_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Interest Expense, Other</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ProceedsFromSaleOfAssetsUnderAgreementsToRepurchase_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Sale of assets under agreements to repurchase</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ProceedsFromSaleOfAssetsUnderAgreementsToRepurchase_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Proceeds From Sale Of Assets Under Agreements To Repurchase</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ProceedsFromSaleOfAssetsUnderAgreementsToRepurchase_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Proceeds from sale of assets under agreements to repurchase.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_CreditRiskTransferCreditGuaranteeObligationAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">CRT derivatives</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_CreditRiskTransferCreditGuaranteeObligationAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Credit Risk Transfer Credit Guarantee Obligation Assets</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_CreditRiskTransferCreditGuaranteeObligationAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Net derivative asset on credit risk transfer agreements in relation to the credit guarantee obligation</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_CreditRiskTransferCreditGuaranteeObligationAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Derivative assets - credit risk transfer derivatives</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_CapitalRequirementsByAgenciesTable_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Capital Requirements By Agencies [Table]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_CapitalRequirementsByAgenciesTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Capital Requirements By Agencies [Table]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_CapitalRequirementsByAgenciesTable_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Capital Requirements By Agencies [Table]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_LoanFulfillmentFeesPayableToAffiliates_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Loan Fulfillment Fees Payable To Affiliates</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_LoanFulfillmentFeesPayableToAffiliates_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Loan fulfillment fees payable to affiliates.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_LoanFulfillmentFeesPayableToAffiliates_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Loan fulfillment fees</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ServicesAgreementExpirationDate_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Servicing agreement expiration date</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ServicesAgreementExpirationDate_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Services Agreement Expiration Date</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ServicesAgreementExpirationDate_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Services Agreement Expiration Date</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_FairValueInputsLevel3Member_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Level 3 [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_FairValueInputsLevel3Member_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Fair Value, Inputs, Level 3 [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_FairValueMeasurementsNonrecurringMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Nonrecurring [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_FairValueMeasurementsNonrecurringMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Fair Value, Nonrecurring [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_LiabilitiesFairValueDisclosureAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Liabilities:</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_LiabilitiesFairValueDisclosureAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Liabilities, Fair Value Disclosure [Abstract]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FairValueInputsInvoluntaryPrepaymentSpeed_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Key inputs used in fair value for CRT agreements</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FairValueInputsInvoluntaryPrepaymentSpeed_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Fair Value Inputs Involuntary Prepayment Speed</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FairValueInputsInvoluntaryPrepaymentSpeed_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Fair value inputs involuntary prepayment speed.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ServicingAdvancesSecuredNotesPayable_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Servicing advances secured notes payable</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ServicingAdvancesSecuredNotesPayable_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Servicing Advances Secured Notes Payable</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ServicingAdvancesSecuredNotesPayable_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Servicing advances</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_SegmentReportingAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Segment Reporting [Abstract]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoanSourcingFeesFromAffiliate_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Mortgage Loan Sourcing Fees From Affiliate</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoanSourcingFeesFromAffiliate_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Represents fees received by the company from an affiliate for mortgage loans that it purchases from correspondent lenders to but is not licensed as a seller/servicer to sell such loans into the secondary market.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoanSourcingFeesFromAffiliate_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Sourcing fees received from PLS included in Net gains on loans held for sale</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FreddieMacMortgageServicingRightsFinancingMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Freddie Mac Mortgage Servicing Rights Financing [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FreddieMacMortgageServicingRightsFinancingMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Freddie Mac mortgage servicing rights financing.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageServiceRightsAtFairValueMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Mortgage Service Rights At Fair Value [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageServiceRightsAtFairValueMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Mortgage service rights at fair value.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageServiceRightsAtFairValueMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Mortgage Service Rights at Fair Value [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_FairValueAssetsMeasuredOnRecurringBasisTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Summary of Financial Statement Items Measured at Fair Value on Recurring Basis</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_FairValueAssetsMeasuredOnRecurringBasisTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Fair Value, Assets Measured on Recurring Basis [Table Text Block]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FifteenthDecemberTwentyTwentyFiveMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">December 15, 2025 [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FifteenthDecemberTwentyTwentyFiveMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Fifteenth December Twenty Twenty Five [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FifteenthDecemberTwentyTwentyFiveMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">December 15, 2025.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_SummaryOfInvestmentTransactionsWithAffiliateTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Summary of Investing Activity</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_SummaryOfInvestmentTransactionsWithAffiliateTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Summary Of Investment Transactions With Affiliate Table [Text Block]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_SummaryOfInvestmentTransactionsWithAffiliateTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Summary Of Investment Transactions With Affiliate [Table Text Block]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_GainsLossesRecognizedOnCreditDefaultSwapsValuationChanges_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Valuation changes</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_GainsLossesRecognizedOnCreditDefaultSwapsValuationChanges_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Gains Losses Recognized On Credit Default Swaps Valuation Changes</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_GainsLossesRecognizedOnCreditDefaultSwapsValuationChanges_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Represents the net unrealized valuation changes pursuant to credit risk transfer agreements.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_InterestOnlyStrippedMortgageBackedSecuritiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Interest-only stripped mortgage-backed securities.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_InterestOnlyStrippedMortgageBackedSecuritiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Interest-Only Stripped Mortgage-Backed Securities [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_InterestOnlyStrippedMortgageBackedSecuritiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Interest-Only Stripped Mortgage-Backed Securities [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_InterestOnlyStrippedMortgageBackedSecuritiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Interest-Only Stripped Securities [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_OtherAssetsMiscellaneous_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Other Assets, Miscellaneous, Total</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_OtherAssetsMiscellaneous_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Other</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_OtherAssetsMiscellaneous_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Other Assets, Miscellaneous</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_StockRepurchasedAndRetiredDuringPeriodValue_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Cost of common shares repurchased</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_StockRepurchasedAndRetiredDuringPeriodValue_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Repurchase of common shares, Amount</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_StockRepurchasedAndRetiredDuringPeriodValue_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Stock Repurchased and Retired During Period, Value</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_RealEstateAcquiredInSatisfactionOfDebtMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Real Estate Acquired in Satisfaction of Debt [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_RealEstateAcquiredInSatisfactionOfDebtMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Real Estate Acquired in Satisfaction of Debt [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_DerivativeAssetFairValueAfterOffsetAndDeductionSubjectToMasterNettingArrangement_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Derivative Asset, Subject to Master Netting Arrangement, after Offset and Deduction</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_DerivativeAssetFairValueAfterOffsetAndDeductionSubjectToMasterNettingArrangement_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Net amount</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_DerivativeAssetFairValueAfterOffsetAndDeductionSubjectToMasterNettingArrangement_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Total derivative assets after netting</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_RelatedPartyTransactionsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Related Party Transactions [Abstract]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ServicingAgreementMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Servicing Agreement [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ServicingAgreementMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Servicing agreement.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ServicingAgreementMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Servicing Agreement [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_PutOptionsOnInterestRateFuturesPurchaseContractsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Put Options On Interest Rate Futures Purchase Contracts [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_PutOptionsOnInterestRateFuturesPurchaseContractsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Put options on interest rate futures purchase contracts.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_PutOptionsOnInterestRateFuturesPurchaseContractsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Put Options On Interest Rate Futures Purchase Contracts [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_PutOptionsOnInterestRateFuturesPurchaseContractsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Put Options On Interest Rate Futures Purchase Contracts</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_PercentageOfReturnOnEquity_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Percentage of return on equity</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_PercentageOfReturnOnEquity_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Percentage Of Return On Equity</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_PercentageOfReturnOnEquity_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Represents the net income expressed as a percentage of shareholders' equity upon which performance incentive fees are based.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ScheduleOfGainLossOnInvestmentsIncludingMarketableSecuritiesAndInvestmentsHeldAtCostIncomeStatementReportedAmountsSummaryLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Schedule Of Gain Loss On Investments Including Marketable Securities And Investments Held At Cost Income Statement Reported Amounts Summary [Line Items]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ScheduleOfGainLossOnInvestmentsIncludingMarketableSecuritiesAndInvestmentsHeldAtCostIncomeStatementReportedAmountsSummaryLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Gain (Loss) on Securities [Line Items]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_InterestExpenseAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Interest expense:</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_InterestExpenseAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Interest Expense, Operating and Nonoperating [Abstract]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_OtherIncome_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Other</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_OtherIncome_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Other Income</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_IncomeTaxTable_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Income Tax [Table]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_IncomeTaxTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Income Tax [Table]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_IncomeTaxTable_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Income tax.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_CapitalRequirementsByAgenciesLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Capital Requirements By Agencies [Line Items]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_CapitalRequirementsByAgenciesLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Capital Requirements By Agencies [Line Items]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_CapitalRequirementsByAgenciesLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Capital requirements by agencies.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_CommitmentsAndContingencies_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Commitments and contingencies &#9472; Note 17</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_CommitmentsAndContingencies_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Commitments and Contingencies</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_AverageBalanceDuringPeriodForLoans_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Loans at fair value</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_AverageBalanceDuringPeriodForLoans_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Average Balance During Period For Loans</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_AverageBalanceDuringPeriodForLoans_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Loans at fair value.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ScheduleOfAggregationAndSecuritizationActivitiesAffiliateTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Summary of Aggregation and Securitization Activities</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ScheduleOfAggregationAndSecuritizationActivitiesAffiliateTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Schedule Of Aggregation And Securitization Activities Affiliate [Table Text Block]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ScheduleOfAggregationAndSecuritizationActivitiesAffiliateTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Schedule of aggregation and securitization activities affiliate.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_DerivativeAssetsPledgedToSecureAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Derivative assets pledged to secure:</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_DerivativeAssetsPledgedToSecureAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Derivative Assets Pledged To Secure [Abstract]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_DerivativeAssetsPledgedToSecureAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Derivative assets pledged to secure.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ServicesAgreementRenewedAndAmendedAdjustedExpirationDate_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Services Agreement Renewed And Amended Adjusted Expiration Date</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ServicesAgreementRenewedAndAmendedAdjustedExpirationDate_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Services agreement renewed and amended adjusted expiration date.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ServicesAgreementRenewedAndAmendedAdjustedExpirationDate_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Services agreement renewed and amended adjusted expiration date</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_CarryingValueOfDerivativeAndCreditRiskTransferStripLiabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Carrying value of derivative and credit risk transfer strip liabilities</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_CarryingValueOfDerivativeAndCreditRiskTransferStripLiabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Carrying value of derivative and credit risk transfer strip liabilities.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_CarryingValueOfDerivativeAndCreditRiskTransferStripLiabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Derivative and credit risk transfer liabilities - credit risk transfer strip liabilities</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_CarryingValueOfDerivativeAndCreditRiskTransferStripLiabilities_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Derivative and credit risk transfer liabilities - credit risk transfer strips</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoansAtFairValueSoldUnderAgreementsMaturity_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Weighted-average maturity, Facility</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoansAtFairValueSoldUnderAgreementsMaturity_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Mortgage Loans At Fair Value Sold Under Agreements Maturity</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoansAtFairValueSoldUnderAgreementsMaturity_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Mortgage loans at fair value sold under agreements maturity.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_JumboLoanMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Jumbo loan.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_JumboLoanMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Jumbo Loan [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_JumboLoanMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Jumbo [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_DebtInstrumentBasisSpreadOnVariableRate1_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Debt instrument interest rate spread</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_DebtInstrumentBasisSpreadOnVariableRate1_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Debt Instrument, Basis Spread on Variable Rate</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_PreferredStockDividendRatePercentage_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Cumulative dividend, beneficial interest rate</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_PreferredStockDividendRatePercentage_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Preferred Stock, Dividend Rate, Percentage</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_InterestExpenseOnConversionOption_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Conversion options</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_InterestExpenseOnConversionOption_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Interest Expense On Conversion Option</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_InterestExpenseOnConversionOption_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Interest expense on conversion option.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="srt_ScenarioForecastMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Forecast [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="srt_ScenarioForecastMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Forecast [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_LoanOriginationsFees_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Loan origination fees</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_LoanOriginationsFees_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Loan Originations Fees</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_LoanOriginationsFees_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Fees charged to correspondent lenders and borrowers relating to the purchase or origination of mortgage loans.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FinancialInstrumentsOwnedMortgagesMortgageBackedAndAssetBackedSecuritiesRepayment_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Repayments</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FinancialInstrumentsOwnedMortgagesMortgageBackedAndAssetBackedSecuritiesRepayment_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Financial Instruments Owned Mortgages Mortgage Backed And Asset Backed Securities Repayment</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FinancialInstrumentsOwnedMortgagesMortgageBackedAndAssetBackedSecuritiesRepayment_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Financial instruments owned mortgages mortgage backed and asset backed securities repayment.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_FairValueOptionLoansHeldAsAssetsAggregateDifference_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Difference</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_FairValueOptionLoansHeldAsAssetsAggregateDifference_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Fair Value, Option, Loans Held as Assets, Aggregate Difference</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ExpectedForfeitureRate_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Expected forfeiture rates based on grantees classifications</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ExpectedForfeitureRate_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Expected Forfeiture Rate</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ExpectedForfeitureRate_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Expected Forfeiture Rate</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ExpectedForfeitureRate_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Expected forfeiture Rate.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_IncreaseToMaximumPercentageOfOutstandingUnpaidPrincipalBalance_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Increase to maximum percentage of outstanding unpaid principal balance</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_IncreaseToMaximumPercentageOfOutstandingUnpaidPrincipalBalance_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Increase To Maximum Percentage Of Outstanding Unpaid Principal Balance</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_IncreaseToMaximumPercentageOfOutstandingUnpaidPrincipalBalance_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Increase to maximum percentage of outstanding unpaid principal balance.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MeasurementInputUnpaidPrincipalBalanceMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Measurement Input Unpaid Principal Balance [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MeasurementInputUnpaidPrincipalBalanceMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Measurement input unpaid principal balance.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MeasurementInputUnpaidPrincipalBalanceMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Percentage of Unpaid Principal Balance [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_GoodFaithAndMarginDepositsWithBrokerDealers_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Good Faith and Margin Deposit with Broker-Dealer</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_GoodFaithAndMarginDepositsWithBrokerDealers_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Margin deposits placed with counterparties included in Other assets</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_AssetsSoldUnderAgreementsAvailableBorrowingCapacityCommitted_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Available borrowing capacity, Committed</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_AssetsSoldUnderAgreementsAvailableBorrowingCapacityCommitted_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Assets Sold Under Agreements Available Borrowing Capacity Committed</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_AssetsSoldUnderAgreementsAvailableBorrowingCapacityCommitted_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Assets sold under agreements available borrowing capacity committed.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FreddieMacMsrAndServicingAdvanceReceivablesFinancingMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Freddie Mac MSR and servicing advance receivables financing.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FreddieMacMsrAndServicingAdvanceReceivablesFinancingMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Freddie Mac MSR and Servicing Advance Receivables Financing [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FreddieMacMsrAndServicingAdvanceReceivablesFinancingMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Freddie Mac MSR and Servicing Advance Receivables Financing</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FairValueInputsWeightedAverageLifeDuringPeriod_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Fair Value inputs, Weighted average equivalent average life during period</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FairValueInputsWeightedAverageLifeDuringPeriod_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Fair Value Inputs Weighted Average Life During Period</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FairValueInputsWeightedAverageLifeDuringPeriod_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Weighted average life input applied to MSR cash flows in estimating the value of MSRs carried at fair value added during the period.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_SantanderUsCapitalMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Santander US Capital.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_SantanderUsCapitalMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Santander US Capital [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_SantanderUsCapitalMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Santander US Capital [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_VariableInterestEntityPrimaryBeneficiaryMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Variable Interest Entities [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_VariableInterestEntityPrimaryBeneficiaryMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Variable Interest Entity, Primary Beneficiary [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_InterestEarnedOnDepositsSecuringCreditRiskTransferAgreements_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Interest Earned On Deposits Securing Credit Risk Transfer Agreements</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_InterestEarnedOnDepositsSecuringCreditRiskTransferAgreements_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Interest earned on deposits securing credit risk transfer agreements.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_InterestEarnedOnDepositsSecuringCreditRiskTransferAgreements_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Interest income -- Deposits securing credit risk transfer arrangements</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_DerivativeAndCreditRiskTransferStripLiabilitiesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Derivative and credit risk transfer strip liabilities:</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_DerivativeAndCreditRiskTransferStripLiabilitiesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Derivative And Credit Risk Transfer Strip Liabilities [Abstract]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_DerivativeAndCreditRiskTransferStripLiabilitiesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Derivative and credit risk transfer strip Liabilities abstract.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_TransfersAstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Transfers of:</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_TransfersAstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Transfers Astract</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_TransfersAstract_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Transfers.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageServicingRightsSecuredNotesPayable_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Mortgage Servicing Rights Secured Notes Payable</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageServicingRightsSecuredNotesPayable_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Mortgage servicing rights, secured notes payable.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageServicingRightsSecuredNotesPayable_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">MSRs</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageServicingRightsSecuredNotesPayable_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Mortgage servicing rights at fair value</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_TextBlockAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Text Block [Abstract]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_InterestIncomeExpenseNet_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Interest Income (Expense), Operating</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_InterestIncomeExpenseNet_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Net interest expense</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_TransfersAndServicingAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Transfers and Servicing [Abstract]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ProfitLoss_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Net income</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ProfitLoss_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Net Income (Loss), Including Portion Attributable to Noncontrolling Interest, Total</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ProfitLoss_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Net Income (Loss), Including Portion Attributable to Noncontrolling Interest</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_CashCollateralForBorrowedSecurities_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Cash collateral received</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_CashCollateralForBorrowedSecurities_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Cash Collateral for Borrowed Securities</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_CollectionStatusInUnpaidPrincipalBalanceAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Collection Status In Unpaid Principal Balance [Abstract]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_CollectionStatusInUnpaidPrincipalBalanceAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Collection status in unpaid principal balance.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_CollectionStatusInUnpaidPrincipalBalanceAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Collection status (unpaid principal balance):</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FairValueInputsRemainingLossExpectation_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Key inputs used in fair value for CRT agreements</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FairValueInputsRemainingLossExpectation_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Fair Value Inputs Remaining Loss Expectation</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FairValueInputsRemainingLossExpectation_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Fair value inputs remaining loss expectation.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ShareBasedCompensationArrangementByShareBasedPaymentAwardOtherThanOptionsVestedAndExpectedToVestAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Shares expected to vest:</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ShareBasedCompensationArrangementByShareBasedPaymentAwardOtherThanOptionsVestedAndExpectedToVestAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Share Based Compensation Arrangement By Share Based Payment Award Other Than Options Vested And Expected To Vest [Abstract]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ShareBasedCompensationArrangementByShareBasedPaymentAwardOtherThanOptionsVestedAndExpectedToVestAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Share based compensation arrangement by share based payment award other than options vested and expected to vest.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageBackedSecuritiesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Mortgage Backed Securities [Abstract]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageBackedSecuritiesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Mortgage backed securities.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_LongtermDebtTypeDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Long-term Debt, Type</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_LongtermDebtTypeDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Long-Term Debt, Type [Domain]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Weighted average basic shares outstanding</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Weighted Average Number of Shares Outstanding, Basic, Total</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Basic</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Weighted Average Number of Shares Outstanding, Basic</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="srt_StatementScenarioAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Scenario</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="srt_StatementScenarioAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Scenario [Axis]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoansOnRealEstateUnpaidBalance_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Principal amount due upon maturity</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoansOnRealEstateUnpaidBalance_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Mortgage Loans On Real Estate Unpaid Balance</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoansOnRealEstateUnpaidBalance_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Unpaid principal balance of mortgage loans carried at fair value as of balance sheet date.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_RepresentationsAndWarrantiesLiability_lbl" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel">Balance, end of quarter</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_RepresentationsAndWarrantiesLiability_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Liability for losses under representations and warranties</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_RepresentationsAndWarrantiesLiability_lbl" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel">Balance, beginning of quarter</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_RepresentationsAndWarrantiesLiability_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Representations And Warranties Liability</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_RepresentationsAndWarrantiesLiability_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Represents the company's estimate of the losses it expects to incur in the future as a result of claims against it in connection with the representations and warranties it provide to the purchasers and insurers of the mortgage loans it sells.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_GainLossOnSalesOfLoansNetMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Gain Loss On Sales Of Loans Net [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_GainLossOnSalesOfLoansNetMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Gain (loss) on sales of loans, net.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_GainLossOnSalesOfLoansNetMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Net Gains on Loans Held for Sale [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_CreditRiskTransferArrangementFinancingMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Credit Risk Transfer Arrangement Financing [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_CreditRiskTransferArrangementFinancingMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Credit risk transfer arrangement financing.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_BaseServicesFeesForReo_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Base servicing fees for REO per month</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_BaseServicesFeesForReo_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Base Services Fees For Reo</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_BaseServicesFeesForReo_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Base services fees for reo.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_PNMACCapitalManagementLLCMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">PNMAC Capital Management LLC [Member]</link:label>
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          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_PNMACCapitalManagementLLCMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">PNMAC Capital Management LLC.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ExchangeableSeniorNotesAndTwoThousandTwentyThreeSeniorNotesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Exchangeable senior notes and 2023 senior notes.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ExchangeableSeniorNotesAndTwoThousandTwentyThreeSeniorNotesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Exchangeable Senior Notes and Two Thousand Twenty Three Senior Notes [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ExchangeableSeniorNotesAndTwoThousandTwentyThreeSeniorNotesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Exchangeable Senior Notes and 2023 Senior Notes [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Schedule Of Share Based Compensation Arrangements By Share Based Payment Award [Table]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Schedule of Share-Based Compensation Arrangements by Share-Based Payment Award [Table]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_StatementBusinessSegmentsAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Segments</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_StatementBusinessSegmentsAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Segments [Axis]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_LoanManagementFeesAndFulfillmentServicingPayableToAffiliate_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Loan servicing fees and fulfillment payable to PFSI</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_LoanManagementFeesAndFulfillmentServicingPayableToAffiliate_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Loan Management Fees And Fulfillment Servicing Payable To Affiliate</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_LoanManagementFeesAndFulfillmentServicingPayableToAffiliate_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Loan management fees and fulfillment servicing payable to affiliate.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MsrRecaptureFees_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">MSR recapture fees</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MsrRecaptureFees_lbl" xlink:role="http://www.xbrl.org/2003/role/label">MSR Recapture Fees</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MsrRecaptureFees_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">MSR recapture fees.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MsrRecaptureFees_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">From PFSI-MSR recapture fees</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ScheduleOfNetGainLossOnMortgageLoansAcquiredForSaleTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Schedule of Net Gains on Loans Acquired for Sale</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ScheduleOfNetGainLossOnMortgageLoansAcquiredForSaleTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Schedule Of Net Gain Loss On Mortgage Loans Acquired For Sale Table [Text Block]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ScheduleOfNetGainLossOnMortgageLoansAcquiredForSaleTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Represents key components of the gain on mortgage loans acquired for sale recognized during the period.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_DebtInstrumentExtendedMaturityDateSubjectToTermNoteIndenture_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Debt instrument extended maturity date subject to term note indenture</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_DebtInstrumentExtendedMaturityDateSubjectToTermNoteIndenture_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Maturity date, Optional extension</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_DebtInstrumentExtendedMaturityDateSubjectToTermNoteIndenture_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Debt Instrument Extended Maturity Date Subject To Term Note Indenture</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_DebtInstrumentExtendedMaturityDateSubjectToTermNoteIndenture_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Debt instrument extended maturity date subject to term note indenture.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_CallOptionsOnInterestRateFuturesPurchaseContractsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Call Options on Interest Rate Futures Purchase Contracts [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_CallOptionsOnInterestRateFuturesPurchaseContractsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Call Options On Interest Rate Futures Purchase Contracts [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_CallOptionsOnInterestRateFuturesPurchaseContractsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Call options on interest rate futures purchase contracts.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="srt_MortgageLoansOnRealEstateByLoanDisclosureTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label">SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Text Block]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="srt_MortgageLoansOnRealEstateByLoanDisclosureTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Loans Held for Sale at Fair Value</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_LiquidityRequirementRatioAmount_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Liquidity requirement basis point</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_LiquidityRequirementRatioAmount_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Liquidity Requirement Ratio Amount</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_LiquidityRequirementRatioAmount_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Liquidity requirement ratio amount.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_SubsequentEventsTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Subsequent Events</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_SubsequentEventsTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Subsequent Events [Text Block]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_UnpaidBalanceOfLoansInReferencePoolsSubjectToCreditRiskTransferSecurities_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">UPB of loans in reference pools</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_UnpaidBalanceOfLoansInReferencePoolsSubjectToCreditRiskTransferSecurities_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Unpaid Balance Of Loans In Reference Pools Subject To Credit Risk Transfer Securities</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_UnpaidBalanceOfLoansInReferencePoolsSubjectToCreditRiskTransferSecurities_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Unpaid balance of loans in reference pools subject to credit risk transfer securities.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_UnpaidBalanceOfLoansInReferencePoolsSubjectToCreditRiskTransferSecurities_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Unpaid principal balance of loans in the reference pools</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FairValueWeightedAverageCouponInterestRate_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Weighted-average note interest rate, Fair value</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FairValueWeightedAverageCouponInterestRate_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Fair Value Weighted Average Coupon Interest Rate</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FairValueWeightedAverageCouponInterestRate_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Average note interest rate applicable to MSRs carried at fair value.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_LongTermDebt_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Total</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_LongTermDebt_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Long-Term Debt</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_RelatedPartyTransactionsDisclosureTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Transactions with Related parties</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_RelatedPartyTransactionsDisclosureTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Related Party Transactions Disclosure [Text Block]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_Cash_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Cash</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_Cash_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Cash</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_SecuritiesSoldUnderAgreementsToRepurchase_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Securities Sold under Agreements to Repurchase, Total</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_SecuritiesSoldUnderAgreementsToRepurchase_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Maturity of repurchase agreements</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_SecuritiesSoldUnderAgreementsToRepurchase_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Securities Sold under Agreements to Repurchase</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_SecuritiesSoldUnderAgreementsToRepurchaseScheduleOfRepurchaseAgreementCounterPartiesWithWhomRepurchaseAgreementsExceedTenPercentOfStockholdersEquityTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Summary of Assets Sold under Agreements to Repurchase by Counterparty</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_SecuritiesSoldUnderAgreementsToRepurchaseScheduleOfRepurchaseAgreementCounterPartiesWithWhomRepurchaseAgreementsExceedTenPercentOfStockholdersEquityTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Securities Sold Under Agreements To Repurchase Schedule Of Repurchase Agreement Counter Parties With Whom Repurchase Agreements Exceed Ten Percent Of Stockholders Equity Table [Text Block]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_SecuritiesSoldUnderAgreementsToRepurchaseScheduleOfRepurchaseAgreementCounterPartiesWithWhomRepurchaseAgreementsExceedTenPercentOfStockholdersEquityTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Represents amount at risk by repurchase counter party for securities sold under agreements to repurchase.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FinancialInstrumentsOwnedMortgagesMortgageBackedAndAssetBackedSecuritiesValuationAdjustmentsNet_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Valuation adjustments, net</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FinancialInstrumentsOwnedMortgagesMortgageBackedAndAssetBackedSecuritiesValuationAdjustmentsNet_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Financial Instruments Owned Mortgages Mortgage Backed And Asset Backed Securities Valuation Adjustments net</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FinancialInstrumentsOwnedMortgagesMortgageBackedAndAssetBackedSecuritiesValuationAdjustmentsNet_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Financial Instruments Owned Mortgages Mortgage Backed And Asset Backed Securities Valuation Adjustments net</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_VariableRateDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Variable Rate</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_VariableRateDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Variable Rate [Domain]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_StockholdersEquity_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Total shareholders&#8217; equity</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_StockholdersEquity_lbl" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel">Balance, Amount</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_StockholdersEquity_lbl" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel">Balance, Amount</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_StockholdersEquity_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Equity, Attributable to Parent</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_DividendsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Dividends:</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_DividendsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Dividends [Abstract]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_PreferredStockParOrStatedValuePerShare_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Preferred stock, par value</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_PreferredStockParOrStatedValuePerShare_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Preferred Stock, Par or Stated Value Per Share</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FairValueInputsOption-AdjustedSpread_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Fair Value Inputs Option-Adjusted Spread</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FairValueInputsOption-AdjustedSpread_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Fair value inputs option-adjusted spread.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_InterestIncomeAndInterestExpenseDisclosureTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Summary of Net Interest Expense</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_InterestIncomeAndInterestExpenseDisclosureTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Interest Income and Interest Expense Disclosure [Table Text Block]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_BasisOfAccountingPolicyPolicyTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Basis of Presentation</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_BasisOfAccountingPolicyPolicyTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Basis of Accounting, Policy [Policy Text Block]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_AssetBackedSecuredFinancingLiabilityFairValue_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Asset-backed financings at fair value</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_AssetBackedSecuredFinancingLiabilityFairValue_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Asset Backed Secured Financing Liability Fair Value</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_AssetBackedSecuredFinancingLiabilityFairValue_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Asset-backed secured financing represents the amounts owed to nonaffiliates relating to the securitization of mortgage loans held in a variable interest entity.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_AssetBackedSecuredFinancingLiabilityFairValue_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Asset-backed financing of variable interest entities at fair value</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_TangibleCapital_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Net worth, Actual</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_TangibleCapital_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Banking Regulation, Tangible Capital, Actual</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_StatementOfStockholdersEquityAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Statement of Stockholders' Equity [Abstract]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_PennymacFinancialServicesIncOneMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Pennymac Financial Services Inc One [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_PennymacFinancialServicesIncOneMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Pennymac Financial Services Inc One [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_PennymacFinancialServicesIncOneMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Pennymac Financial Services Inc [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_SeriesCPreferredStockMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">6.75% Series C Preferred Stock [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_SeriesCPreferredStockMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Series C Preferred Stock [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_NonCashGainFromReductionInLiabilityDueToChangeInEstimate_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Reduction in liability due to change in estimate</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_NonCashGainFromReductionInLiabilityDueToChangeInEstimate_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Non Cash Gain From Reduction In Liability Due To Change In Estimate</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_NonCashGainFromReductionInLiabilityDueToChangeInEstimate_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Non cash gain from reduction in liability due to change in estimate.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ScheduleOfFairValueInputsDateOfSaleMortgageServicingRightTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Key Assumptions Used in Determining Fair Value of MSRs at Time of Initial Recognition</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ScheduleOfFairValueInputsDateOfSaleMortgageServicingRightTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Schedule Of Fair Value Inputs Date Of Sale Mortgage Servicing Right Table [Text Block]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ScheduleOfFairValueInputsDateOfSaleMortgageServicingRightTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Schedule of key inputs used to estimate the fair value of mortgage servicing rights at initial recognition.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_HeldForSaleNonaffiliatesGSEEligibleMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Held For Sale Nonaffiliates GSE Eligible [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_HeldForSaleNonaffiliatesGSEEligibleMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Held for sale nonaffiliates GSE eligible.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_HeldForSaleNonaffiliatesGSEEligibleMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Held for Sale to Nonaffiliates-GSE Eligible [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_SeriesAPreferredStockMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">8.125% Series A Preferred Stock [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_SeriesAPreferredStockMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Series A Preferred Stock [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoansAtFairValueMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">At fair value [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoansAtFairValueMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Mortgage Loans At Fair Value [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoansAtFairValueMember_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Loans at fair value [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoansAtFairValueMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Mortgage loans at fair value.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="srt_MortgageLoansOnRealEstateRenewedAndExtended_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Mortgage loans on real estate, renewed and Extended, description</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="srt_MortgageLoansOnRealEstateRenewedAndExtended_lbl" xlink:role="http://www.xbrl.org/2003/role/label">SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Renewed and Extended, Description</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ScheduleOfMortgageLoanAcquiredForSaleTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Schedule of mortgage loan acquired for sale.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ScheduleOfMortgageLoanAcquiredForSaleTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Summary of Distribution of Company's Loans Acquired for Sale at Fair Value</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ScheduleOfMortgageLoanAcquiredForSaleTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Schedule Of Mortgage Loan Acquired For Sale Table [Text Block]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_MortgageBackedSecuritiesAvailableForSaleFairValueDisclosure_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Debt Security, Mortgage-Backed, Available-for-Sale, Fair Value Disclosure</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_MortgageBackedSecuritiesAvailableForSaleFairValueDisclosure_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Retained interests at fair value pledged to secure Assets sold under agreements to repurchase</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_FairValueDisclosuresTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Fair Value</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_FairValueDisclosuresTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Fair Value Disclosures [Text Block]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoansSoldToAffiliatesUnpaidPrincipalBalance_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">UPB of loans sold to PLS</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoansSoldToAffiliatesUnpaidPrincipalBalance_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Mortgage Loans Sold To Affiliates Unpaid Principal Balance</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoansSoldToAffiliatesUnpaidPrincipalBalance_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Unpaid principal balance of mortgage loans sold to affiliates during the period.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoansSoldToAffiliatesUnpaidPrincipalBalance_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Unpaid principal balance of loans sold to PLS:</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ProceedsFromIssuanceOfMortgageLoanParticipationPurchaseAndSaleAgreements_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Issuance of mortgage loan participation purchase and sale agreements</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ProceedsFromIssuanceOfMortgageLoanParticipationPurchaseAndSaleAgreements_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Proceeds From Issuance Of Mortgage Loan Participation Purchase And Sale Agreements</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ProceedsFromIssuanceOfMortgageLoanParticipationPurchaseAndSaleAgreements_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Proceeds from issuance of mortgage loan participation purchase and sale agreements.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_AssetBackedSecuredFinancingTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Summary of Financial Information Relating to Asset-Backed Financing of a VIE at Fair Value</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_AssetBackedSecuredFinancingTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Asset Backed Secured Financing Table [Text Block]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_AssetBackedSecuredFinancingTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Financial information relating to asset-backed secured financings, including balances, interest rates and interest expense for the period and at period end.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ManagementAgreementMaturityRenewalTerm_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Management Agreement Maturity Renewal Term</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ManagementAgreementMaturityRenewalTerm_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Management agreement maturity renewal term.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ManagementAgreementMaturityRenewalTerm_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Management agreement maturity renewal term</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_PerformanceIncentiveMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Performance incentive [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_PerformanceIncentiveMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Performance Incentive [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_PerformanceIncentiveMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Performance Incentive [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_PerformanceIncentiveMember_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Performance incentive fee [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_SubServicingLoanMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Subserviced loan [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_SubServicingLoanMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Sub Servicing Loan [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_SubServicingLoanMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Sub Servicing Loan [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FinancialInstrumentsOwnedMortgagesMortgageBackedAndAssetBackedSecuritiesAmortizationOfPurchasePremiumsDiscounts_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Financial Instruments Owned Mortgages Mortgage Backed And Asset Backed Securities Amortization Of Purchase Premiums Discounts</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FinancialInstrumentsOwnedMortgagesMortgageBackedAndAssetBackedSecuritiesAmortizationOfPurchasePremiumsDiscounts_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Financial instruments owned mortgages mortgage backed and asset backed securities amortization of purchase premiums discounts.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FinancialInstrumentsOwnedMortgagesMortgageBackedAndAssetBackedSecuritiesAmortizationOfPurchasePremiumsDiscounts_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Accrual (amortization) of net purchase premiums and discounts</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FinancialInstrumentsOwnedMortgagesMortgageBackedAndAssetBackedSecuritiesAmortizationOfPurchasePremiumsDiscounts_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Amortization and accrual of net purchase premiums and discounts</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_UnpaidPrincipalBalanceMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Unpaid Principal Balance [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_UnpaidPrincipalBalanceMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Unpaid Principal Balance [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_UnpaidPrincipalBalanceMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Unpaid Principal Balance [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_LongtermDebtWeightedAverageInterestRate_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Weighted average interest rate</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_LongtermDebtWeightedAverageInterestRate_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Long-Term Debt, Weighted Average Interest Rate, at Point in Time</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_AtlasSecuritizedProductsLPMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Atlas Securitized Products, L.P. [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_AtlasSecuritizedProductsLPMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Atlas Securitized Products L P [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_AtlasSecuritizedProductsLPMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Atlas Securitized Products, L.P.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_GovernmentSponsoredEntityEligibleMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Government Sponsored Entity Eligible [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_GovernmentSponsoredEntityEligibleMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Government sponsored entity eligible.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_GovernmentSponsoredEntityEligibleMember_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">GSE Eligible [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_GovernmentSponsoredEntityEligibleMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Held for Sale to Nonaffiliates-GSE Eligible [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_DebtInstrumentNameDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Debt Instrument, Name</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_DebtInstrumentNameDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Debt Instrument, Name [Domain]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_PercentageOfChangeInNetIncomeLoss_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Percentage of change in net income due to quarterly adjustments</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_PercentageOfChangeInNetIncomeLoss_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Percentage Of Change In Net Income Loss</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_PercentageOfChangeInNetIncomeLoss_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Represents a threshold return on shareholders' equity as defined before performance incentive fees are chargeable to the Company.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_OtherTrusteesOrOfficersMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Other Trustees Or Officers [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_OtherTrusteesOrOfficersMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Other trustees or officers.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_OtherTrusteesOrOfficersMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Other Trustees or Officers [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_DebtInstrumentCollateralAmount_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Fair value of mortgage servicing rights pledged to secure Assets sold under agreements to repurchase and Notes payable secured by credit risk transfer and mortgage servicing assets</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_DebtInstrumentCollateralAmount_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Debt Instrument, Collateral Amount</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_TaxServiceFeesPaid_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Tax service fees paid to PLS</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_TaxServiceFeesPaid_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Tax Service Fees Paid</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_TaxServiceFeesPaid_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Represents tax service fees paid to an affiliate relating to mortgage loans fulfilled for the company by the affiliate.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_MeasurementInputDiscountRateMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Discount Rate [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_MeasurementInputDiscountRateMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Measurement Input, Discount Rate [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="srt_MortgageLoansOnRealEstateLoanTypeDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Loan Type</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="srt_MortgageLoansOnRealEstateLoanTypeDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label">SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Loan Type [Domain]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FairValueOptionLoansHeldAsAssetsInForeclosureAggregateFairValue_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">90 or more days delinquent, in foreclosure</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FairValueOptionLoansHeldAsAssetsInForeclosureAggregateFairValue_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Fair Value Option Loans Held As Assets In Foreclosure Aggregate Fair Value</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FairValueOptionLoansHeldAsAssetsInForeclosureAggregateFairValue_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Fair value of mortgage loans carried at fair value under the fair value option, more than 90 days past due and in foreclosure.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_TwentyTwentyMBSAgreementMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">2020 MBS Agreement [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_TwentyTwentyMBSAgreementMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Twenty Twenty M B S Agreement [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_TwentyTwentyMBSAgreementMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">2020 MBS agreement.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FreddieMaeMsrAndServicingAdvanceReceivablesFinancingMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Freddie Mae MSR and servicing advance receivables financing.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FreddieMaeMsrAndServicingAdvanceReceivablesFinancingMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Freddie Mae MSR and Servicing Advance Receivables Financing [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FreddieMaeMsrAndServicingAdvanceReceivablesFinancingMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Freddie Mac MSR and Servicing Advance Receivables Financing</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_IoSecurityMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">IO [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_IoSecurityMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">IO security.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_IoSecurityMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">IO Security [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Derivative Instruments and Hedging Activities Disclosure [Abstract]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_SegmentReportingCodmIndividualTitleAndPositionOrGroupOrCommitteeNameExtensibleEnumeration_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Segment Reporting, CODM, Individual Title and Position or Group Name [Extensible Enumeration]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_CarryingValueAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Carrying value:</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_CarryingValueAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Carrying Value [Abstract]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_CarryingValueAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Carrying value.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_UnpaidBalanceOfMortgageLoansSubjectToCreditGuaranteeOnCreditRiskTransferAgreementsCurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Current</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_UnpaidBalanceOfMortgageLoansSubjectToCreditGuaranteeOnCreditRiskTransferAgreementsCurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Unpaid Balance Of Mortgage Loans Subject To Credit Guarantee On Credit Risk Transfer Agreements Current</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_UnpaidBalanceOfMortgageLoansSubjectToCreditGuaranteeOnCreditRiskTransferAgreementsCurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Unpaid balance of mortgage loans subject to credit guarantee on credit risk transfer agreements current.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_GregHendryMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Greg Hendry [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_GregHendryMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Greg Hendry.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_IncreaseDecreaseInOtherOperatingAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Increase (Decrease) in Other Operating Assets, Total</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_IncreaseDecreaseInOtherOperatingAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Increase (Decrease) in Other Operating Assets</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_IncreaseDecreaseInOtherOperatingAssets_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">(Increase) decrease in other assets</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_InterestRateLockCommitmentsAndLoansAcquiredForSaleMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Interest rate lock commitments and loans acquired for sale [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_InterestRateLockCommitmentsAndLoansAcquiredForSaleMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Interest Rate Lock Commitments And Loans Acquired For Sale [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_InterestRateLockCommitmentsAndLoansAcquiredForSaleMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Interest rate lock commitments and loans acquired for sale.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_InterestExpense_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Interest expense, total</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_InterestExpense_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Interest expense</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_InterestExpense_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Interest Expense, Operating and Nonoperating</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_UnsecuredSeniorNotesInterestExpense_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Unsecured senior notes interest expense</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_UnsecuredSeniorNotesInterestExpense_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Unsecured senior notes interest expense.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_UnsecuredSeniorNotesInterestExpense_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Unsecured senior notes</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_EntityDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Entity</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_EntityDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Entity [Domain]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_SubordinateMortgageBackedSecuritiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Subordinate Mortgage Backed Securities [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_SubordinateMortgageBackedSecuritiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Subordinate Mortgage Backed Securities [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_SubordinateMortgageBackedSecuritiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Subordinate mortgage backed securities.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_HeldForSaleToPennymacLoanServicesGovernmentSponseredEntityEligibleMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Held for Sale to Pennymac Loan Services - Government Sponsered Entity Eligible [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_HeldForSaleToPennymacLoanServicesGovernmentSponseredEntityEligibleMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Held for sale to nonaffiliates&#8212;GSE eligible.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_HeldForSaleToPennymacLoanServicesGovernmentSponseredEntityEligibleMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Held for sale to PLS - GSE Eligible [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_CreditRiskTransferStripsAtFairValueMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Credit Risk Transfer Strips at Fair Value [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_CreditRiskTransferStripsAtFairValueMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Credit risk transfer strips at fair value.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_CreditRiskTransferStripsAtFairValueMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Credit Risk Transfer Strips at Fair Value [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ShortTermDebtWeightedAverageInterestRateOverTime_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Weighted average interest rate</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ShortTermDebtWeightedAverageInterestRateOverTime_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Short-Term Debt, Weighted Average Interest Rate, over Time</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_AccruedIncomeTaxes_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Accrued Income Taxes, Total</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_AccruedIncomeTaxes_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Income taxes payable</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_AccruedIncomeTaxes_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Accrued Income Taxes</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_TwoThousandAndEighteenFTOneNotesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">2018 FT-1 Notes</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_TwoThousandAndEighteenFTOneNotesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Two thousand and eighteen FT one notes.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_TwoThousandAndEighteenFTOneNotesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Two Thousand And Eighteen F T One Notes [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_CreditRiskTransferAgreementMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Credit Risk Transfer Agreements [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_CreditRiskTransferAgreementMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Credit Risk Transfer Agreement [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_CreditRiskTransferAgreementMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Credit Risk Transfer Agreement [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Related Party</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Related and Nonrelated Parties [Axis]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="srt_MortgageLoansOnRealEstateLoanTypeAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Loan Type</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="srt_MortgageLoansOnRealEstateLoanTypeAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label">SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Loan Type [Axis]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ForwardSalesContractsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Forward Sales Contracts [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ForwardSalesContractsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Forward Sales Contracts [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ForwardSalesContractsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Forward Sale Contracts [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ForwardSalesContractsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Forward Sales Contracts [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_AccountingStandardsUpdateExtensibleList_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Accounting Standards Update [Extensible Enumeration]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_AccountingStandardsUpdateExtensibleList_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Accounting Standards Update [Extensible Enumeration]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ScheduleOfMortgageLoanHeldForSaleTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Schedule Of Mortgage Loan Held For Sale Table [Text Block]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ScheduleOfMortgageLoanHeldForSaleTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Schedule of mortgage loan held for sale.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ScheduleOfMortgageLoanHeldForSaleTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Summary of Distribution of Company's Loans Held for Sale at Fair Value</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ScheduleOfInvestmentIncomeReportedAmountsByCategoryTable_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Schedule Of Investment Income Reported Amounts By Category [Table]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ScheduleOfInvestmentIncomeReportedAmountsByCategoryTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Investment Income [Table]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_EntityAddressCityOrTown_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Entity Address, City or Town</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_EntityAddressCityOrTown_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Entity Address, City or Town</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_UnusualRiskOrUncertaintyByNatureAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Unusual Risk or Uncertainty, Nature</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_UnusualRiskOrUncertaintyByNatureAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Unusual Risk or Uncertainty, Nature [Axis]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_DelinquentAmountAtEndOfPeriodOnLoansManagedAndSecuritizedThirtyToEightyNineDays_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">30-89 days delinquent</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_DelinquentAmountAtEndOfPeriodOnLoansManagedAndSecuritizedThirtyToEightyNineDays_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Delinquent Amount At End Of Period On Loans Managed And Securitized Thirty To Eighty Nine Days</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_DelinquentAmountAtEndOfPeriodOnLoansManagedAndSecuritizedThirtyToEightyNineDays_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Delinquent amount at end of period on loans managed and securitized thirty to eighty nine days.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_LongTermDebtWeightedAverageInterestRateOverTime_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Weighted average interest rate</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_LongTermDebtWeightedAverageInterestRateOverTime_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Weighted-average interest rate</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_LongTermDebtWeightedAverageInterestRateOverTime_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Long-Term Debt, Weighted Average Interest Rate, over Time</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageServiceRightsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Mortgage service rights [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageServiceRightsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Mortgage Service Rights [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageServiceRightsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Mortgage Service Rights.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_RevenuesNetOfInterestExpense_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Net investment income</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_RevenuesNetOfInterestExpense_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Net investment income</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_RevenuesNetOfInterestExpense_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Revenues, Net of Interest Expense</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_NumberOfReportableSegments_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Number of Reportable Segments</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_NumberOfReportableSegments_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Number of reportable segments</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_SecurityExchangeName_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Security Exchange Name</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_SecurityExchangeName_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Security Exchange Name</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_NationalLifeGroupMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">National Life Group [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_NationalLifeGroupMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">National Life Group [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_BaseManagementFeeShareholdersEquityLimit_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Base management fee shareholders' equity limit</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_BaseManagementFeeShareholdersEquityLimit_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Base Management Fee Shareholders Equity Limit</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_BaseManagementFeeShareholdersEquityLimit_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Represents the shareholders' equity levels upon which base management fee rates are based effective February 1, 2013.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ScheduleOfSharesRepurchaseTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Summary of Common Share Repurchase Activity</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ScheduleOfSharesRepurchaseTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Schedule Of Shares Repurchase Table [Text Block]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ScheduleOfSharesRepurchaseTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Schedule of shares repurchase.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_InterestExpenseSecuritiesSoldUnderAgreementsToRepurchase_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Assets sold under agreements to repurchase</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_InterestExpenseSecuritiesSoldUnderAgreementsToRepurchase_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Total interest expense</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_InterestExpenseSecuritiesSoldUnderAgreementsToRepurchase_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Interest Expense, Securities Sold under Agreements to Repurchase</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_TangibleCapitalRequiredForCapitalAdequacy_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Net worth, Required</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_TangibleCapitalRequiredForCapitalAdequacy_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Banking Regulation, Tangible Capital, Minimum</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ScheduleOfDerivativeAndFinancialLiabilitiesBySignificantCounterpartyNotOffsetTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Summary of Derivative Liabilities, Financial Liabilities and Collateral Pledged by Counterparty</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ScheduleOfDerivativeAndFinancialLiabilitiesBySignificantCounterpartyNotOffsetTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Schedule Of Derivative And Financial Liabilities By Significant Counterparty Not Offset Table [Text Block]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ScheduleOfDerivativeAndFinancialLiabilitiesBySignificantCounterpartyNotOffsetTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Schedule Of Derivative And Financial Liabilities By Significant Counterparty Not Offset [Table Text Block]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_RegulatoryCapitalRatioAmount_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Basis point</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_RegulatoryCapitalRatioAmount_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Regulatory Capital Ratio Amount</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_RegulatoryCapitalRatioAmount_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Regulatory capital ratio amount.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="srt_CounterpartyNameAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Counterparty Name</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="srt_CounterpartyNameAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Counterparty Name [Axis]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoanClassificationByCreditQualityAndTypeTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Mortgage Loan Classification By Credit Quality And Type Table [Text Block]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoanClassificationByCreditQualityAndTypeTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Mortgage Loan Classification By Credit Quality And Type [Table Text Block]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoanClassificationByCreditQualityAndTypeTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Summary of Distribution of Company's Loans Held for Investment at Fair Value</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Income (loss) before benefit from income taxes</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">(Benefit from) provision for income taxes</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Income (loss) before provision for (benefit from) income taxes</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ScheduleOfServicingAssetsAtFairValueTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Summary of MSRs Carried at Fair Value</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ScheduleOfServicingAssetsAtFairValueTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Schedule of Servicing Assets at Fair Value [Table Text Block]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_EffectOnValueOfFivePercentageAdverseChangeMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Effect On Value Of Five Percentage Adverse Change</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_EffectOnValueOfFivePercentageAdverseChangeMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Effect On Value Of Five Percentage Adverse Change [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_EffectOnValueOfFivePercentageAdverseChangeMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Effect on value of 5% adverse change.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_SupplementalNoncashInvestingActivityAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Supplemental Noncash Investing Activity [Abstract]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_SupplementalNoncashInvestingActivityAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Supplemental Noncash Investing Activity [Abstract]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_SupplementalNoncashInvestingActivityAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Non cash investing activities:</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_DistributionFromCreditRiskTransferArrangements_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Distribution from credit risk transfer arrangements</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_DistributionFromCreditRiskTransferArrangements_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Distribution From Credit Risk Transfer Arrangements</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_DistributionFromCreditRiskTransferArrangements_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Distribution from credit risk transfer arrangements.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_MeasurementInputTypeDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Measurement Input Type</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_MeasurementInputTypeDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Measurement Input Type [Domain]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_UnsecuredNinePointZeroZeroPercentageSeniorNotesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Unsecured Nine Point Zero Zero Percentage Senior Notes [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_UnsecuredNinePointZeroZeroPercentageSeniorNotesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Unsecured 9.00% senior notes.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_UnsecuredNinePointZeroZeroPercentageSeniorNotesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Unsecured 9.00% Senior Notes [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_DerivativeAssetsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Derivative Asset [Abstract]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_DerivativeAssetsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Credit risk transfer derivatives</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MSRAtFairValueServiceFeeAnnualRateAtInitialRecognition_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Fair value, Weighted-average annual servicing fee rate (in basis points)</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MSRAtFairValueServiceFeeAnnualRateAtInitialRecognition_lbl" xlink:role="http://www.xbrl.org/2003/role/label">M S R At Fair Value Service Fee Annual Rate At Initial Recognition</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MSRAtFairValueServiceFeeAnnualRateAtInitialRecognition_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">MSR at fair value service fee annual rate at initial recognition.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_LiabilityForRepresentationsAndWarrantiesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Liability For Representations And Warranties [Abstract]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_LiabilityForRepresentationsAndWarrantiesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Liability for representations and warranties.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_DepositsSecuringCreditRiskTransfersPledgedToCreditors_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Deposits securing CRT arrangements</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_DepositsSecuringCreditRiskTransfersPledgedToCreditors_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Deposits Securing Credit Risk Transfers Pledged To Creditors</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_DepositsSecuringCreditRiskTransfersPledgedToCreditors_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Deposits securing credit risk transfers pledged to creditors.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FederalNationalMortgageAssociationAndFederalHomeLoanMortgageCorporationMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Fannie Mae and Freddie Mac [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FederalNationalMortgageAssociationAndFederalHomeLoanMortgageCorporationMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Federal National Mortgage Association And Federal Home Loan Mortgage Corporation [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FederalNationalMortgageAssociationAndFederalHomeLoanMortgageCorporationMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Federal national mortgage association and federal home loan mortgage corporation.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_RepresentationsAndWarrantiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Repurchased Pursuant to Representations and Warranties [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_RepresentationsAndWarrantiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Representations And Warranties [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_RepresentationsAndWarrantiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Representations And Warranties Member</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Accounts payable and accrued liabilities</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Accounts Payable and Accrued Liabilities, Total</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Accounts Payable and Accrued Liabilities</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_InterestPaidNet_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Interest</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_InterestPaidNet_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Interest Paid, Excluding Capitalized Interest, Operating Activity</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_FairValueByMeasurementBasisAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Measurement Basis [Axis]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="srt_RangeMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Statistical Measurement</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="srt_RangeMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Statistical Measurement [Domain]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_SubordinateResidentialTransitionMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Subordinate Residential Transition [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_SubordinateResidentialTransitionMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Subordinate residential transition.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_SeriesABAndCPreferredStockMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">8.125% Series A, 8.00% Series B, 6.75% Series C Preferred Stock [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_SeriesABAndCPreferredStockMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Series A B And C Preferred Stock [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_SeriesABAndCPreferredStockMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Series A B and C preferred stock.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_HedgingGainsAndLossesOnMortgageServicingAssetNet_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Mortgage servicing rights hedging results</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_HedgingGainsAndLossesOnMortgageServicingAssetNet_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Hedging Gains And Losses On Mortgage Servicing Asset Net</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_HedgingGainsAndLossesOnMortgageServicingAssetNet_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Hedging gains and losses on mortgage servicing asset net.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ServicingAssetAtFairValueAdditionsFromLoanSales_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Fair value, MSR recognized</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ServicingAssetAtFairValueAdditionsFromLoanSales_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Amounts received pursuant to sales of loans</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ServicingAssetAtFairValueAdditionsFromLoanSales_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Servicing Asset At Fair Value Additions From Loan Sales</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ServicingAssetAtFairValueAdditionsFromLoanSales_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">The value of new servicing assets, subsequently measured at fair value, acquired or created during the current period from transfers of financial assets.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_MaturityUpTo30DaysMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Within 30 days [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_MaturityUpTo30DaysMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Maturity Less than 30 Days [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_DocumentPeriodEndDate_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Document Period End Date</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_DocumentPeriodEndDate_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Document Period End Date</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_DepositsSecuringCreditRiskTransferAgreements_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Deposits securing credit risk transfer arrangements pledged to creditors</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_DepositsSecuringCreditRiskTransferAgreements_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Deposits Securing Credit Risk Transfer Agreements</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_DepositsSecuringCreditRiskTransferAgreements_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Represents cash deposited to secure the company's obligation under credit risk transfer agreements.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ChangeInFairValueOfCommitmentsToPurchaseLoans_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Interest rate lock commitments</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ChangeInFairValueOfCommitmentsToPurchaseLoans_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Change In Fair Value Of Commitments To Purchase Loans</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ChangeInFairValueOfCommitmentsToPurchaseLoans_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Represents the portion of gain on sale of mortgage loans arising from the change in fair value of commitments to purchase loans.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_FairValueMeasurementsFairValueHierarchyDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Fair Value Hierarchy and NAV</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_FairValueMeasurementsFairValueHierarchyDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Fair Value Hierarchy and NAV [Domain]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_InterestIncomeExpenseOther_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Interest income (expense) other.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_InterestIncomeExpenseOther_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Other</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_InterestIncomeExpenseOther_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Interest Income Expense Other</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_CashFlowsBetweenTransfereeAndTransferorServicingFees_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Loan servicing fees received</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_CashFlowsBetweenTransfereeAndTransferorServicingFees_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Cash Flows Between Transferor and Transferee, Servicing Fees</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_MeasurementInputConstantPrepaymentRateMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Voluntary Prepayment Speed [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_MeasurementInputConstantPrepaymentRateMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Measurement Input, Constant Prepayment Rate [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ChangeInFairValueOfInterestOnlySecurityPayableAtFairValueValuationChanges_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Interest-only security payable at fair value - valuation changes</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ChangeInFairValueOfInterestOnlySecurityPayableAtFairValueValuationChanges_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Change In Fair Value Of Interest Only Security Payable At Fair Value Valuation Changes</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ChangeInFairValueOfInterestOnlySecurityPayableAtFairValueValuationChanges_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Change in fair value of interest only security payable at fair value valuation changes.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_LongTermDebtTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Long-Term Debt</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_LongTermDebtTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Long-Term Debt [Text Block]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_TransferOfFinancialAssetsAccountedForAsSalesTable_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Transfer Of Financial Assets Accounted For As Sales [Table]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_TransferOfFinancialAssetsAccountedForAsSalesTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Transfer of Financial Assets Accounted for as Sales [Table]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FairValueInputPricingSpreadMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Pricing Spread [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FairValueInputPricingSpreadMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Fair Value Input Pricing Spread [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FairValueInputPricingSpreadMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Pricing spread.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Effect of participating securities&#8210;share-based compensation awards</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Participating Securities, Distributed and Undistributed Earnings (Loss), Basic</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_GainLossOnSaleOfMortgageLoans_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Gain (Loss) on Sale of Mortgage Loans</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_GainLossOnSaleOfMortgageLoans_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Loans</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_GainLossOnSaleOfMortgageLoans_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Loans held for investment</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_GainLossOnSaleOfMortgageLoans_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Total non-cash gains</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ServicingAdvancesAndRealEstateAcquiredThroughForeclosure_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Servicing advances and real estate acquired</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ServicingAdvancesAndRealEstateAcquiredThroughForeclosure_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Servicing Advances And Real Estate Acquired Through Foreclosure</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ServicingAdvancesAndRealEstateAcquiredThroughForeclosure_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Servicing advances and real estate acquired through foreclosure.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_DebtInstrumentDescriptionOfVariableRateBasis_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Annual interest rate index</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_DebtInstrumentDescriptionOfVariableRateBasis_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Debt Instrument, Description of Variable Rate Basis</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_DebtInstrumentDescriptionOfVariableRateBasis_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Debt Instrument, Description of Variable Rate Basis</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_StatementOfFinancialPositionAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Statement of Financial Position [Abstract]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_NetIncomeLossAttributableToCommonStockholders_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Net Income Loss Attributable To Common Stockholders</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_NetIncomeLossAttributableToCommonStockholders_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Net income after adjustments for dividends on preferred stock</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_NetIncomeLossAttributableToCommonStockholders_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Net income (loss) attributable to common shareholders</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_RestrictedStockUnitsRSUMember_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Restricted Share Units [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_RestrictedStockUnitsRSUMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Restricted Shares Units [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_RestrictedStockUnitsRSUMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Restricted Stock Units (RSUs) [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="srt_CumulativeEffectPeriodOfAdoptionAdjustmentMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Cumulative Effect, Period of Adoption, Adjustment [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="srt_CumulativeEffectPeriodOfAdoptionAdjustmentMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Cumulative Effect, Period of Adoption, Adjustment [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_FairValueOptionQuantitativeDisclosuresTable_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Fair Value Option Quantitative Disclosures [Table]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_FairValueOptionQuantitativeDisclosuresTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Fair Value Option, Disclosures [Table]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTable_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Schedule Of Antidilutive Securities Excluded From Computation Of Earnings Per Share [Table]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Antidilutive Security, Excluded EPS Calculation [Table]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_StatementClassOfStockAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Class of Stock</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_StatementClassOfStockAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Class of Stock [Axis]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ChangeInFairValueHedgingInstrumentsStillHeldAtPeriodEnd_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Hedging derivatives</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ChangeInFairValueHedgingInstrumentsStillHeldAtPeriodEnd_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Change In Fair Value Hedging Instruments Still Held At Period End</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ChangeInFairValueHedgingInstrumentsStillHeldAtPeriodEnd_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Represents the change in fair value of hedging derivatives still held at period end.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_OtherReceivables_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Other receivables</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_OtherReceivables_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Other Receivables</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_OtherReceivables_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Due from PennyMac Financial Services, Inc.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FairValueInputsPrepaymentSpeedDuringPeriod_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Fair Value inputs, Prepayment speed during period</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FairValueInputsPrepaymentSpeedDuringPeriod_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Fair Value Inputs Prepayment Speed During Period</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FairValueInputsPrepaymentSpeedDuringPeriod_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Prepayment speed input applied to MSR cash flows in estimating the value of new MSRs carried at fair value during the period.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_AssetBackedSecuredFinancingLiabilityFairValueMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Asset Backed Secured Financing Liability Fair Value</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_AssetBackedSecuredFinancingLiabilityFairValueMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Asset Backed Secured Financing Liability Fair Value [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_AssetBackedSecuredFinancingLiabilityFairValueMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Asset backed secured financing liability fair value.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_AgencyConformingLoansSecuredByInvestmentPropertiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Agency-conforming loans secured by investment properties [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_AgencyConformingLoansSecuredByInvestmentPropertiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Agency Conforming Loans Secured By Investment Properties [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_AgencyConformingLoansSecuredByInvestmentPropertiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Agency-conforming loans secured by investment properties.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_CallOptionsOnInterestRateFuturesSellContractsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Call Options On Interest Rate Futures Sell Contracts [Member].</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_CallOptionsOnInterestRateFuturesSellContractsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Call Options On Interest Rate Futures Sell Contracts [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_CallOptionsOnInterestRateFuturesSellContractsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Call Options On Interest Rate Futures Sell Contracts [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_StockRepurchaseProgramCumulativeNumberOfSharesRepurchased_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Cumulative shares repurchased</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_StockRepurchaseProgramCumulativeNumberOfSharesRepurchased_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Stock Repurchase Program Cumulative Number Of Shares Repurchased</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_StockRepurchaseProgramCumulativeNumberOfSharesRepurchased_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Stock repurchase program cumulative number of shares repurchased.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_FairValueOptionLoansHeldAsAssetsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Fair Value, Option, Loans Held as Assets [Abstract]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_FairValueOptionLoansHeldAsAssetsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Loans, fair value [Abstract]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_LiquidAssetRequirementForRegulatoryCompliance_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Liquidity, Required</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_LiquidAssetRequirementForRegulatoryCompliance_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Liquid Asset Requirement For Regulatory Compliance</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_LiquidAssetRequirementForRegulatoryCompliance_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Liquid asset requirement for &#8203;regulatory compliance.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_LoanPortfolioIncomeExpense_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Loan Portfolio Income Expense</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_LoanPortfolioIncomeExpense_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Loan portfolio income expense</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_LoanPortfolioIncomeExpense_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Loan servicing fees</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_OtherAssetsLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Other Assets [Line Items]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_OtherAssetsLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Other Assets [Line Items]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_OtherAssetsLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Other assets.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_SummaryOfRecourseLiabilityTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Summary of Company's Liability for Losses under Representations and Warranties</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_SummaryOfRecourseLiabilityTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Summary Of Recourse Liability Table [Text Block]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_SummaryOfRecourseLiabilityTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Represents summaries of activity in the recourse liability during the period.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_FairValuesDerivativesBalanceSheetLocationByDerivativeContractTypeByHedgingDesignationTable_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Fair Values Derivatives Balance Sheet Location By Derivative Contract Type By Hedging Designation [Table]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_FairValuesDerivativesBalanceSheetLocationByDerivativeContractTypeByHedgingDesignationTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Fair Values Derivatives, Balance Sheet Location, by Derivative Contract Type [Table]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_Liabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Total liabilities</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_Liabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Liabilities</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_LoanSalesDisclosureTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Loan Sales</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_LoanSalesDisclosureTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Loan Sales Disclosure [Text Block]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_LoanSalesDisclosureTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Loan Sales Disclosure.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_TransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Financial Instruments</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_TransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Financial Instruments [Domain]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_DerivativeLiabilityCollateralRightToReclaimCashOffset_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel">Gross amounts offset in the consolidated balance sheet</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_DerivativeLiabilityCollateralRightToReclaimCashOffset_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Derivative liabilities, Netting</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_DerivativeLiabilityCollateralRightToReclaimCashOffset_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Derivative Liability, Subject to Master Netting Arrangement, Collateral, Right to Reclaim Cash Offset</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ChangeInFairValueOfMortgageLoansAndRelatedHedgingInstrumentsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Changes in fair value of loans and derivatives</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ChangeInFairValueOfMortgageLoansAndRelatedHedgingInstrumentsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Change In Fair Value Of Mortgage Loans And Related Hedging Instruments [Abstract]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ChangeInFairValueOfMortgageLoansAndRelatedHedgingInstrumentsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Change in fair value of mortgage loans and related hedging instruments abstract</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_SecuritiesRetainedInAssetBackedFinancingsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Securities Retained In Asset Backed Financings [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_SecuritiesRetainedInAssetBackedFinancingsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Securities Retained In Asset Backed Financings [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FTOneNotesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">FT-1 Notes [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FTOneNotesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">F T One Notes [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FTOneNotesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">F T One notes.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ServicingIncomeLossNetOfValuationAdjustments_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Net loan servicing fees</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ServicingIncomeLossNetOfValuationAdjustments_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Servicing Income Loss Net Of Valuation Adjustments</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ServicingIncomeLossNetOfValuationAdjustments_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Servicing income (loss) net of valuation adjustments and fair value impairment for MSRs.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ServicingIncomeLossNetOfValuationAdjustments_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Net loan servicing fees</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_DerivativeInstrumentsGainLossLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Derivative Instruments Gain Loss [Line Items]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_DerivativeInstrumentsGainLossLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Derivative Instruments, Gain (Loss) [Line Items]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_LeasesCommitmentsAndPurchaseObligationsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Commitments to purchase mortgage loans:</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_LeasesCommitmentsAndPurchaseObligationsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Leases Commitments And Purchase Obligations [Abstract]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_LeasesCommitmentsAndPurchaseObligationsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Leases Commitments And Purchase Obligations [Abstract]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_RestrictedCash_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Restricted Cash, Total</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_RestrictedCash_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Restricted cash</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_RestrictedCash_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Restricted Cash</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_CashFlowsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Cash flows:</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_CashFlowsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Cash Flows [Abstract]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_CashFlowsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Cash flows.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FairValueOptionLoansHeldAsAssetsNinetyDaysOrLessPastDue_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Current through 89 days delinquent</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FairValueOptionLoansHeldAsAssetsNinetyDaysOrLessPastDue_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Fair Value Option Loans Held As Assets Ninety Days Or Less Past Due</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FairValueOptionLoansHeldAsAssetsNinetyDaysOrLessPastDue_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Fair value of mortgage loans carried at fair value under the fair value option and less than 90 days past due.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_TwoThousandTwentyEightSeniorNotesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Two Thousand Twenty Eight Senior Notes [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_TwoThousandTwentyEightSeniorNotesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">2028 Senior Notes.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_TwoThousandTwentyEightSeniorNotesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">2028 Eight Senior Notes [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_TwoThousandTwentyEightSeniorNotesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">2028 Senior Notes [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="srt_MortgageLoansOnRealEstatePrincipalAmountOfDelinquentLoans_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Principal amount due upon maturity</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="srt_MortgageLoansOnRealEstatePrincipalAmountOfDelinquentLoans_lbl" xlink:role="http://www.xbrl.org/2003/role/label">SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Principal Amount of Delinquent Loans</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_VariableRateAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Variable Rate [Axis]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_VariableRateAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Variable Rate</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_BondFuturesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Bond Futures [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_BondFuturesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Bond Futures [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_BondFuturesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Bond futures.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_NotesPayableMember_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Notes Payable [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_NotesPayableMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Notes Payable [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_NotesPayableMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Notes Payable [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_NotesPayableMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Notes Payable.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_LineOfCreditFacilityMaximumAmountOutstandingDuringPeriod_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Maximum daily amount outstanding</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_LineOfCreditFacilityMaximumAmountOutstandingDuringPeriod_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Line of Credit Facility, Maximum Amount Outstanding During Period</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_SeniorNotesDueTwoThousandTwentyEightMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Senior Notes Due Two Thousand Twenty Eight [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_SeniorNotesDueTwoThousandTwentyEightMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Senior notes due two thousand twenty eight.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_SeniorNotesDueTwoThousandTwentyEightMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">8.50% Senior Notes Due 2028 [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Diluted weighted average shares outstanding</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Diluted weighted average shares outstanding</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Diluted</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Weighted Average Number of Shares Outstanding, Diluted</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_EntityFileNumber_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Entity File Number</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_EntityFileNumber_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Entity File Number</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_PaymentsOfDividendsCommonStock_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Payment of dividends to common shareholders</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_PaymentsOfDividendsCommonStock_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Payments of Ordinary Dividends, Common Stock</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_NetGainsLossesOnInvestmentsAndFinancingsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Net Gains Losses On Investments And Financings [Abstract]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_NetGainsLossesOnInvestmentsAndFinancingsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Net gains losses on investments and financings.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_NetGainsLossesOnInvestmentsAndFinancingsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Net (losses) gains on investments and financings</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_OtherAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Other Assets</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_OtherAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Other Assets</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_OtherAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Other</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Net Gains (Losses) Recognized on Derivative Financial Instruments</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Derivative Instruments, Gain (Loss) [Table Text Block]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_CoverAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Cover [Abstract]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_DelinquentAmountAtEndOfPeriodOnLoansManagedAndSecuritizedOneHundredAndEightyOrMoreDaysNotInForeclosure_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">180 or more days delinquent</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_DelinquentAmountAtEndOfPeriodOnLoansManagedAndSecuritizedOneHundredAndEightyOrMoreDaysNotInForeclosure_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Delinquent Amount At End Of Period On Loans Managed And Securitized One Hundred And Eighty Or More Days Not In Foreclosure</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_DelinquentAmountAtEndOfPeriodOnLoansManagedAndSecuritizedOneHundredAndEightyOrMoreDaysNotInForeclosure_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Delinquent amount at end of period on loans managed and securitized one hundred and eighty or more days not in foreclosure.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_MeasurementInputTypeAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Measurement Input Type</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_MeasurementInputTypeAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Measurement Input Type [Axis]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_LoansHeldForInvestmentAtFairValueMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Loans held for investment at fair value [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_LoansHeldForInvestmentAtFairValueMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Loans held for investment at fair value.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_LoansHeldForInvestmentAtFairValueMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Loans Held For Investment At Fair Value [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_LoansHeldForInvestmentAtFairValueMember_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Loans Held for Investment at Fair Value [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_JuneTwoThousandTwentyFiveMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">June Two Thousand twenty Five [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_JuneTwoThousandTwentyFiveMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">June 2025.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_JuneTwoThousandTwentyFiveMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">June 2025 [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ScheduleOfCarryingValuesAndEstimatedFairValuesOfDebtInstrumentsTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Carrying and Fair Values of Notes Payable Secured by Credit Risk Transfer and Mortgage Servicing Rights and Exchangeable Senior Notes</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ScheduleOfCarryingValuesAndEstimatedFairValuesOfDebtInstrumentsTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Schedule of Carrying Values and Estimated Fair Values of Debt Instruments [Table Text Block]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_SecurititesInterestOnlyStrippedMeasurementInput_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Key inputs used in valuation</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_SecurititesInterestOnlyStrippedMeasurementInput_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Securitites Interest Only Stripped Measurement Input</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_SecurititesInterestOnlyStrippedMeasurementInput_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Securitites interest only stripped measurement input.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Increase (Decrease) in Accounts Payable and Accrued Liabilities, Total</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Increase (Decrease) in Accounts Payable and Accrued Liabilities</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Decrease in accounts payable and accrued liabilities</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_AncillaryFeeIncomeGeneratedByServicingFinancialAssetsAmount_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Other</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_AncillaryFeeIncomeGeneratedByServicingFinancialAssetsAmount_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Ancillary Fee Income Generated by Servicing Financial Assets, Amount</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="srt_CumulativeEffectPeriodOfAdoptionAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Cumulative Effect, Period of Adoption</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="srt_CumulativeEffectPeriodOfAdoptionAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Cumulative Effect, Period of Adoption [Axis]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Total share units forfeiture</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Forfeited in Period</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ScheduleOfAssetsMeasuredAtFairValueOnNonRecurringBasisTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Summary of Changes in Fair Value Recognized in Assets that Remeasured at Fair Value on a Nonrecurring Basis</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ScheduleOfAssetsMeasuredAtFairValueOnNonRecurringBasisTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Schedule Of Assets Measured At Fair Value On Non Recurring Basis Table [Text Block]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ScheduleOfAssetsMeasuredAtFairValueOnNonRecurringBasisTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Schedule Of Assets Measured At Fair Value On Non Recurring Basis [Table Text Block]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_PrincipalAmountOutstandingOnLoansSecuritized_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Asset-backed financings at fair value</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_PrincipalAmountOutstandingOnLoansSecuritized_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Unpaid principal balance</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_PrincipalAmountOutstandingOnLoansSecuritized_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Loan, Securitized or Asset-Backed Financing Arrangement, Principal Outstanding</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_NonQualifiedMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Non Qualified [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_NonQualifiedMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Non-qualified.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_NonQualifiedMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Non-qualified [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_InvestmentTypeCategorizationMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Investments</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_InvestmentTypeCategorizationMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Investments [Domain]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_NetIncomeExceedsTwentyPercentageMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Net income exceeds 20% [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_NetIncomeExceedsTwentyPercentageMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Net Income Exceeds Twenty Percentage [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_NetIncomeExceedsTwentyPercentageMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Represents a threshold percentage for calculating the performance incentive portion of the Company's management fee.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_OffsettingAssetsLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Offsetting Assets [Line Items]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_OffsettingAssetsLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Offsetting Assets [Line Items]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_DerivativeGainLossOnDerivativeNet_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Derivative, Gain (Loss) on Derivative, Net, Total</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_DerivativeGainLossOnDerivativeNet_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Derivative, Gain (Loss) on Derivative, Net</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_DerivativeGainLossOnDerivativeNet_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Net gains on derivative financial instruments used as economic hedges</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="srt_ScenarioUnspecifiedDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Scenario</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="srt_ScenarioUnspecifiedDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Scenario [Domain]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_RealEstateAcquiredThroughForeclosure_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Real estate acquired in settlement of loans</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_RealEstateAcquiredThroughForeclosure_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Real estate acquired in settlement of loans</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_RealEstateAcquiredThroughForeclosure_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Real Estate Acquired Through Foreclosure</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_RealEstateAcquiredThroughForeclosure_lbl" xlink:role="http://www.xbrl.org/2009/role/netLabel">Other assets-Real estate acquired in settlement of loans</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoansAtFairValueSoldUnderAgreementsWeightedAverageMaturity_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Weighted average maturity</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoansAtFairValueSoldUnderAgreementsWeightedAverageMaturity_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Mortgage Loans At Fair Value Sold Under Agreements Weighted Average Maturity</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoansAtFairValueSoldUnderAgreementsWeightedAverageMaturity_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Mortgage loans at fair value sold under agreements weighted average maturity.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_MortgagesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Mortgage loans acquired for sale, mortgage loans, REO and MSRs sold under agreements to repurchase [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_MortgagesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Mortgages [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_TwoThousandTwentyNineExchangeableNotesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">2029 Exchangeable Notes [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_TwoThousandTwentyNineExchangeableNotesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Two Thousand Twenty Nine Exchangeable Notes [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_TwoThousandTwentyNineExchangeableNotesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">2029 Exchangeable Notes.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_NumberOfOperatingSegments_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Number of business segments</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_NumberOfOperatingSegments_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Number of Operating Segments</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_NumberOfOperatingSegments_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Number of operating segments</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_NumberOfCommonSharesHeldByAffiliate_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Number of common shares held by affiliate</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_NumberOfCommonSharesHeldByAffiliate_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Number Of Common Shares Held By Affiliate</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_NumberOfCommonSharesHeldByAffiliate_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Number of common shares held by affiliate.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_SegmentReportingDisclosureTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Segments</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_SegmentReportingDisclosureTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Segment Reporting Disclosure [Text Block]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_SeriesBPreferredStockMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">8.00% Series B Preferred Stock [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_SeriesBPreferredStockMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Series B Preferred Stock [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_DividendsOnPreferredShares_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Dividends on preferred shares.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_DividendsOnPreferredShares_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Dividends On Preferred Shares</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_DividendsOnPreferredShares_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Dividends on preferred shares</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_DividendsOnPreferredShares_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Dividends on preferred shares</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_MortgageBackedSecuritiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Mortgage Backed Securities [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_MortgageBackedSecuritiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Collateralized Mortgage-Backed Securities [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_MortgageBackedSecuritiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Mortgage Backed Securities At Fair Value [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FixedRateMortgageLoansMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Fixed-Rate Mortgage Loans [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FixedRateMortgageLoansMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Fixed Rate Mortgage Loans [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FixedRateMortgageLoansMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Fixed Rate Mortgage Loans [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_TwentyEightAugustTwentyTwentyFourMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Twenty Eight August Twenty Twenty Four [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_TwentyEightAugustTwentyTwentyFourMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Twenty eight August twenty twenty four.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_TwentyEightAugustTwentyTwentyFourMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">August 28, 2024 [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_SubsequentEventTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Subsequent Event [Table]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_DebtSecuritiesGainLoss_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Investment securities at fair value, Mortgage-backed securities</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_DebtSecuritiesGainLoss_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Debt Securities, Gain (Loss)</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_DebtSecuritiesGainLoss_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Debt Securities, Gain (Loss), Total</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_DebtSecuritiesGainLoss_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Mortgage-backed securities</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FinancialInstrumentsOwnedMortgagesMortgageBackedAndAssetBackedSecuritiesCumulativeValuationChanges_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Financial instruments owned mortgages mortgage backed and asset backed securities cumulative valuation changes.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FinancialInstrumentsOwnedMortgagesMortgageBackedAndAssetBackedSecuritiesCumulativeValuationChanges_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Financial Instruments Owned Mortgages Mortgage Backed And Asset Backed Securities Cumulative Valuation Changes</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FinancialInstrumentsOwnedMortgagesMortgageBackedAndAssetBackedSecuritiesCumulativeValuationChanges_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Cumulative valuation changes</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FinancialInstrumentsOwnedMortgagesMortgageBackedAndAssetBackedSecuritiesCumulativeValuationChanges_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Cumulative valuation changes</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_DelinquentAmountAtEndOfPeriodOnLoansManagedAndSecuritizedNinetyToOneHundredAndSeventyNine_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">90-179 days delinquent</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_DelinquentAmountAtEndOfPeriodOnLoansManagedAndSecuritizedNinetyToOneHundredAndSeventyNine_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Delinquent Amount At End Of Period On Loans Managed And Securitized Ninety To One Hundred And Seventy Nine</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_DelinquentAmountAtEndOfPeriodOnLoansManagedAndSecuritizedNinetyToOneHundredAndSeventyNine_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Delinquent amount at end of period on loans managed and securitized ninety to one hundred and seventy nine.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ShortTermDebtTypeDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Short-term Debt, Type</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ShortTermDebtTypeDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Short-Term Debt, Type [Domain]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ProvisionForLossesUnderRepresentationAndWarrantiesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Provision for losses relating to representations and warranties provided in loan sales:</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ProvisionForLossesUnderRepresentationAndWarrantiesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Provision for losses:</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ProvisionForLossesUnderRepresentationAndWarrantiesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Provision For Losses Under Representation And Warranties [Abstract]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ProvisionForLossesUnderRepresentationAndWarrantiesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Provision for losses under representation and warranties.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_OtherCommitmentsTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Company's Outstanding Contractual Commitments</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_OtherCommitmentsTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Other Commitments [Table Text Block]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ConventionalConformingMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Conventional Conforming [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ConventionalConformingMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Conventional Conforming [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ConventionalConformingMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Conventional conforming.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FairValueOptionLoansHeldAsAssetsAggregateFairValue_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Fair value</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FairValueOptionLoansHeldAsAssetsAggregateFairValue_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Fair Value Option Loans Held As Assets Aggregate Fair Value</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FairValueOptionLoansHeldAsAssetsAggregateFairValue_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Total fair value of mortgage loans carried at fair value under the fair value option.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_RecaptureAgreementRenewedAndAmendedAdjustedRecaptureFeeDescription_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Recapture Agreement Renewed And Amended Adjusted Recapture Fee Description</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_RecaptureAgreementRenewedAndAmendedAdjustedRecaptureFeeDescription_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Recapture agreement renewed and amended adjusted recapture fee description.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_RecaptureAgreementRenewedAndAmendedAdjustedRecaptureFeeDescription_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Recapture agreement renewed and amended adjusted recapture fee description</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ShortTermDebtTypeAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Short-term Debt, Type</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ShortTermDebtTypeAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Short-Term Debt, Type [Axis]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label">New Accounting Pronouncements, Policy [Policy Text Block]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Recently Issued Accounting Pronouncements</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_GainLossOnSaleOfMortgageLoansAcquiredForSaleCashPortion_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Sales of loans</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_GainLossOnSaleOfMortgageLoansAcquiredForSaleCashPortion_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Gain Loss On Sale Of Mortgage Loans Acquired For Sale Cash Portion</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_GainLossOnSaleOfMortgageLoansAcquiredForSaleCashPortion_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Gain Loss On Sale Of Mortgage Loans Acquired For Sale Cash Portion</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_DerivativeInstrumentsGainLossByHedgingRelationshipByIncomeStatementLocationByDerivativeInstrumentRiskTable_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Derivative Instruments Gain Loss By Hedging Relationship By Income Statement Location By Derivative Instrument Risk [Table]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_DerivativeInstrumentsGainLossByHedgingRelationshipByIncomeStatementLocationByDerivativeInstrumentRiskTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Derivative Instruments, Gain (Loss) [Table]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Recognition of cash conversion option included in issuance of exchangeable senior notes, Shares</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Stock Issued During Period, Shares, Conversion of Convertible Securities</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_TwentySevenJuneTwoThousandTwentyFourMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Twenty Seven June Two Thousand Twenty Four [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_TwentySevenJuneTwoThousandTwentyFourMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Twenty Seven june two thousand twenty four.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_TwentySevenJuneTwoThousandTwentyFourMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">June 27, 2024 [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Vesting period</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_FixedAnnuityMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Fixed Annuity</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_FixedAnnuityMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Fixed Annuity [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_NotesPayableGross_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Amount outstanding</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_NotesPayableGross_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Carrying value of notes</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_NotesPayableGross_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Notes Payable Gross</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_NotesPayableGross_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Notes payable gross.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FinancialInstrumentsOwnedMortgagesMortgageBackedAndAssetBackedSecuritiesAtFairValuePurchases_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Purchases</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FinancialInstrumentsOwnedMortgagesMortgageBackedAndAssetBackedSecuritiesAtFairValuePurchases_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Financial Instruments Owned Mortgages Mortgage Backed And Asset Backed Securities At Fair Value Purchases</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FinancialInstrumentsOwnedMortgagesMortgageBackedAndAssetBackedSecuritiesAtFairValuePurchases_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Financial instruments owned mortgages mortgage backed and asset backed securities at fair value purchases.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_UnpaidPrincipalBalanceOfLoansRecaptured_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Unpaid principal balance of loans recaptured</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_UnpaidPrincipalBalanceOfLoansRecaptured_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Unpaid Principal Balance Of Loans Recaptured</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_UnpaidPrincipalBalanceOfLoansRecaptured_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Unpaid principal balance of loans recaptured.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_LoanSalesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Loan Sales [Abstract]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_LoanSalesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Loan sales.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_Rule10B51ArrModifiedFlag_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Rule 10 b 51 Arr Modified Flag</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_Rule10B51ArrModifiedFlag_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Rule 10 b 51 arr modified flag.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_Rule10B51ArrModifiedFlag_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Rule 10b5-1 Arrangement Modified</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ScheduleOfShareBasedCompensationArrangementByShareBasedPaymentAwardRestrictedShareUnitsAndPerformanceShareUnitsExpectedToVestOutstandingTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Summary of Restricted Share Units and Performance Share Units Expected to Vest</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ScheduleOfShareBasedCompensationArrangementByShareBasedPaymentAwardRestrictedShareUnitsAndPerformanceShareUnitsExpectedToVestOutstandingTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Schedule Of Share Based Compensation Arrangement By Share Based Payment Award Restricted Share Units And Performance Share Units Expected To Vest Outstanding Table [Text Block]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ScheduleOfShareBasedCompensationArrangementByShareBasedPaymentAwardRestrictedShareUnitsAndPerformanceShareUnitsExpectedToVestOutstandingTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Schedule of share based compensation arrangement by share based payment award restricted share units and performance share units expected to vest outstanding.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_NetIncomeExceedsFifteenPercentageMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Net income exceeds 15% [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_NetIncomeExceedsFifteenPercentageMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Net Income Exceeds Fifteen Percentage [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_NetIncomeExceedsFifteenPercentageMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Represents a threshold percentage for calculating the performance incentive portion of the Company's management fee.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MaturityOneYearToTwoYearsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Over 1 year to 2 years [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MaturityOneYearToTwoYearsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Maturity One Year To Two Years [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MaturityOneYearToTwoYearsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Maturity One Year To Two Years [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_CarryingReportedAmountFairValueDisclosureMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Carrying Value [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_CarryingReportedAmountFairValueDisclosureMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Reported Value Measurement [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_RepurchaseAgreementsMaturitiesTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Summary of Maturities of Outstanding Advances Under Repurchase Agreements by Maturity Date</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_RepurchaseAgreementsMaturitiesTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Repurchase Agreements Maturities Table [Text Block]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_RepurchaseAgreementsMaturitiesTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Repurchase agreements maturities.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ExchangeableSeniorNotesDueTwoThousandAndTwentyFourMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Exchangeable Senior Notes due November 1, 2024 [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ExchangeableSeniorNotesDueTwoThousandAndTwentyFourMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Exchangeable Senior Notes Due Two Thousand And Twenty Four [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ExchangeableSeniorNotesDueTwoThousandAndTwentyFourMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Exchangeable senior notes due two thousand and twenty four.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_InvestmentTypeExtensibleEnumeration_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Investment, Type [Extensible Enumeration]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_NonAgencySeniorSecuritiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Senior Non-Agency Securities [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_NonAgencySeniorSecuritiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Non Agency Senior Securities [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_NonAgencySeniorSecuritiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Non-Agency senior securities.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_NonAgencySeniorSecuritiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Senior Non-Agency [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_PaymentsToPurchaseMortgageLoansHeldForSaleNonaffiliates_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Payments To Purchase Mortgage Loans Held For Sale Nonaffiliates</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_PaymentsToPurchaseMortgageLoansHeldForSaleNonaffiliates_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Payments to purchase mortgage loans held for sale non-affiliates.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_PaymentsToPurchaseMortgageLoansHeldForSaleNonaffiliates_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Purchase of loans held for sale from nonaffiliates</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FairValueInputsOptionAdjustedSpread_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Fair Value Inputs Option Adjusted Spread</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FairValueInputsOptionAdjustedSpread_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Fair value inputs option adjusted spread.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FairValueInputsOptionAdjustedSpread_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Estimated fair value inputs, Option-adjusted spread</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_BNPParibasMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">BNP Paribas [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_BNPParibasMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">B N P Paribas [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_BNPParibasMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">BNP Paribas.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_CorporateMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Corporate [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_CorporateMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Corporate Segment [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_EllingtonManagementMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Ellington Management [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_EllingtonManagementMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Ellington Management.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoansFairValueDisclosure_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Fair value</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoansFairValueDisclosure_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Mortgage Loans Fair Value Disclosure</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoansFairValueDisclosure_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Mortgage loans fair value disclosure.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoansFairValueDisclosure_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Loans held for investment</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_PercentageOfConsolidatedNetIncome_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Percentage of net income for calculation of performance incentive fees</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_PercentageOfConsolidatedNetIncome_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Percentage Of Consolidated Net Income</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_PercentageOfConsolidatedNetIncome_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Represents the net income expressed as a percentage of shareholders' equity upon which performance incentive fees are based.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_CreditSensitiveStrategiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Credit Sensitive Strategies [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_CreditSensitiveStrategiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Credit Sensitive Strategies [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_CreditSensitiveStrategiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Credit sensitive strategies.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_CommonStockSharesOutstanding_lbl" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel">Common Stock, Shares, Outstanding, Ending Balance</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_CommonStockSharesOutstanding_lbl" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel">Common Stock, Shares, Outstanding, Beginning Balance</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_CommonStockSharesOutstanding_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Common shares, outstanding</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_CommonStockSharesOutstanding_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Common Stock, Shares, Outstanding</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_RisksInherentInServicingAssetsAndServicingLiabilitiesTypeDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Risks Inherent in Servicing Assets and Servicing Liabilities, Type</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_RisksInherentInServicingAssetsAndServicingLiabilitiesTypeDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Risks Inherent in Servicing Assets and Servicing Liabilities, Type [Domain]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_SourcingFeeOnUnpaidPrincipalBalance_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Interest income and sourcing fee</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_SourcingFeeOnUnpaidPrincipalBalance_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Sourcing Fee On Unpaid Principal Balance</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_SourcingFeeOnUnpaidPrincipalBalance_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Fee expressed in basis points of the unpaid principal balance earned by the Company relating to transfers of government-insured or guaranteed mortgage loans that it purchases from correspondent lenders to an affiliate.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_DocumentTransitionReport_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Document Transition Report</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_DocumentTransitionReport_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Document Transition Report</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoanCollectionAndLiquidationExpenses_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Loan collection and liquidation</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoanCollectionAndLiquidationExpenses_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Mortgage Loan Collection And Liquidation Expenses</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoanCollectionAndLiquidationExpenses_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">The amount of expenses for mortgage loan collection and liquidation costs on distressed mortgage loans.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ShortTermInvestments_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Short-Term Investments</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ShortTermInvestments_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Short-Term Investments, Total</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ShortTermInvestments_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Short-term investments</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ShortTermInvestments_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Short-term investments at fair value</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_OperatingExpenses_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Total expenses</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_OperatingExpenses_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Operating Expenses</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ScheduleOfCapitalizationEquityTable_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Schedule Of Capitalization Equity [Table]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ScheduleOfCapitalizationEquityTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Capitalization, Equity [Table]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_PaymentsForRepurchaseOfCommonStock_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Payments for Repurchase of Common Stock</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_PaymentsForRepurchaseOfCommonStock_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Repurchase of common shares of beneficial interest</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_LoanServicingFees_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Loan servicing fees</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_LoanServicingFees_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Loan Servicing Fees</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_LoanServicingFees_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Loan servicing fees.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="srt_MortgageLoansOnRealEstateScheduleTable_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Mortgage Loans On Real Estate Schedule [Table]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="srt_MortgageLoansOnRealEstateScheduleTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label">SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate Schedule [Table]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_GainLossOnNetDerivativeRelatesToCreditRiskTransfer_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">CRT arrangements</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_GainLossOnNetDerivativeRelatesToCreditRiskTransfer_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Gain Loss On Net Derivative Relates To Credit Risk Transfer</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_GainLossOnNetDerivativeRelatesToCreditRiskTransfer_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Gain (loss) on net derivative relates to credit risk transfer.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_StatementOfCashFlowsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Statement of Cash Flows [Abstract]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_AdditionalServicingFees_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Additional servicing fees per loan per month</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_AdditionalServicingFees_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Additional Servicing Fees</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_AdditionalServicingFees_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Additional Servicing Fees</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_AverageMortgageServicingRightsUnpaidPrincipalBalance_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Average UPB of underlying loans</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_AverageMortgageServicingRightsUnpaidPrincipalBalance_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Average Mortgage Servicing Rights Unpaid Principal Balance</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_AverageMortgageServicingRightsUnpaidPrincipalBalance_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Average mortgage servicing rights unpaid principal balance.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FreddieMacMortgageServicingRightsAndServicingAdvanceReceivablesFinancingMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Freddie Mac Mortgage Servicing Rights And Servicing Advance Receivables Financing [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FreddieMacMortgageServicingRightsAndServicingAdvanceReceivablesFinancingMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Freddie Mac mortgage servicing rights and servicing advance receivables financing.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_LoansAtFairValueMember_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Loans At Fair Value [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_LoansAtFairValueMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Loans At Fair Value</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_LoansAtFairValueMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Loans At Fair Value [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_LoansAtFairValueMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Loans at fair value.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_AssetsFairValueDisclosureAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Assets:</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_AssetsFairValueDisclosureAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Assets, Fair Value Disclosure [Abstract]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_PreferredStockLiquidationPreferenceValue_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Liquidation preference</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_PreferredStockLiquidationPreferenceValue_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Preferred stock, liquidation preference, value</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_PreferredStockLiquidationPreferenceValue_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Preferred Stock, Liquidation Preference, Value</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_FairValueOptionChangesInFairValueGainLoss1_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Fair Value, Option, Changes in Fair Value, Gain (Loss)</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_FairValueOptionChangesInFairValueGainLoss1_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Changes in fair value included in current period income (expense)</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_StockholdersEquityNoteDisclosureTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Shareholders' Equity</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_StockholdersEquityNoteDisclosureTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Equity [Text Block]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_DerivativeAndCreditRiskTransferStripLiabilitiesAtFairValue_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Derivative and credit risk transfer strip liabilities at fair value</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_DerivativeAndCreditRiskTransferStripLiabilitiesAtFairValue_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Derivative And Credit Risk Transfer Strip Liabilities At Fair Value</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_DerivativeAndCreditRiskTransferStripLiabilitiesAtFairValue_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Derivative and credit risk transfer strip liabilities at fair value.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="srt_MortgageLoansOnRealEstateOtherRequiredDisclosuresAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Loans, principal amount due upon maturity [Abstract]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="srt_MortgageLoansOnRealEstateOtherRequiredDisclosuresAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Other Disclosure [Abstract]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_DaiwaCapitalMarketsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Daiwa Capital Markets [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_DaiwaCapitalMarketsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Daiwa Capital Markets [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_DaiwaCapitalMarketsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Daiwa Capital Markets [Member].</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_EarningsPerShareTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Earnings Per Share [Text Block]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_EarningsPerShareTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Earnings (Loss) Per Common Share</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ConvertibleDebtAverageBalanceDuringPeriod_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Average balance</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ConvertibleDebtAverageBalanceDuringPeriod_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Convertible Debt Average Balance During Period</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ConvertibleDebtAverageBalanceDuringPeriod_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Represents the weighted average balance of exchangeable notes outstanding during the period.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_SharesIssued_lbl" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel">Balance, Shares</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_SharesIssued_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Shares, Issued</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_SharesIssued_lbl" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel">Balance, Shares</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_PledgedAssetsSeparatelyReportedLoansAcquiredForSalePledgedAsCollateralAtFairValue_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Mortgage-backed securities at fair value pledged to creditors</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_PledgedAssetsSeparatelyReportedLoansAcquiredForSalePledgedAsCollateralAtFairValue_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Mortgage loans at fair value acquired For sale pledged As Collateral to secure related financing amounts.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_PledgedAssetsSeparatelyReportedLoansAcquiredForSalePledgedAsCollateralAtFairValue_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Loans held for sale at fair value, pledged to creditors</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ScheduleOfChangesInFairValueTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Schedule of Changes in Fair Value</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ScheduleOfChangesInFairValueTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Schedule Of Changes In Fair Value [Table Text Block]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ScheduleOfChangesInFairValueTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Schedule of changes in fair value.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_AffiliateCosts_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Total expenses incurred in transaction with affiliates</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_AffiliateCosts_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Affiliate Costs</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Fair value</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue_lbl" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel">Beginning balance</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue_lbl" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel">Ending balance</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Fair value, Assets</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_NetIncomeLoss_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Net income (loss)</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_NetIncomeLoss_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Net income</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_GainsLossesRecognizedOnCreditRiskTransferStripsValuationChanges_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Valuation changes</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_GainsLossesRecognizedOnCreditRiskTransferStripsValuationChanges_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Gains Losses Recognized On Credit Risk Transfer Strips Valuation Changes</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_GainsLossesRecognizedOnCreditRiskTransferStripsValuationChanges_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Gains losses recognized on credit risk transfer strips valuation changes.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_UpbOfLoansRecaptured_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">UPB of loans recaptured</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_UpbOfLoansRecaptured_lbl" xlink:role="http://www.xbrl.org/2003/role/label">UPB Of Loans Recaptured</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_UpbOfLoansRecaptured_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">UPB of loans recaptured.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_LoanPortfolioExpense_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Loan servicing fees</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_LoanPortfolioExpense_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Loan Portfolio Expense</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_DerivativeLiabilitySecuritiesSoldUnderAgreementsToResellSecuritiesLoaned_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Net amounts of liabilities presented in the consolidated balance sheet</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_DerivativeLiabilitySecuritiesSoldUnderAgreementsToResellSecuritiesLoaned_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Net amount of liabilities presented in the consolidated balance sheet</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_DerivativeLiabilitySecuritiesSoldUnderAgreementsToResellSecuritiesLoaned_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Derivative Liability, Securities Sold under Agreements to Repurchase, Securities Loaned</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoanParticipationAndSaleAgreementInterestExpense_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Mortgage Loan Participation And Sale Agreement Interest Expense</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoanParticipationAndSaleAgreementInterestExpense_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Total interest expense</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoanParticipationAndSaleAgreementInterestExpense_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Mortgage loan participation and sale agreement interest expense.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoanServicingFeesEarnedByAffiliateAndMortgageServicingRightsRecapturedIncomeEarnedTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Summary of Loan Servicing Fees Earned and Mortgage Servicing Rights Recaptured Income Earned</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoanServicingFeesEarnedByAffiliateAndMortgageServicingRightsRecapturedIncomeEarnedTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Mortgage Loan Servicing Fees Earned By Affiliate And Mortgage Servicing Rights Recaptured Income Earned Table [Text Block]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoanServicingFeesEarnedByAffiliateAndMortgageServicingRightsRecapturedIncomeEarnedTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Mortgage loan servicing fees earned by affiliate and mortgage servicing rights recaptured income earned [Table Text Block]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_SecuritiesSoldUnderAgreementsAvailableBorrowingCapacityUncommitted_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Available borrowing capacity, Uncommitted</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_SecuritiesSoldUnderAgreementsAvailableBorrowingCapacityUncommitted_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Securities Sold Under Agreements Available Borrowing Capacity Uncommitted</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_SecuritiesSoldUnderAgreementsAvailableBorrowingCapacityUncommitted_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Securities Sold Under Agreements Available Borrowing Capacity Uncommitted</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_OtherAssetsTable_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Other Assets [Table]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_OtherAssetsTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Other Assets [Table]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_OtherAssetsTable_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Other assets.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_RealEstateAcquiredThroughForeclosureGainsLossesRecognized_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Real Estate Acquired Through Foreclosure Gains Losses Recognized</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_RealEstateAcquiredThroughForeclosureGainsLossesRecognized_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Changes in fair value recognized in income during the period relating to real estate acquired in settlement of loans re-measured at fair value less estimate costs to sell.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_RealEstateAcquiredThroughForeclosureGainsLossesRecognized_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Real estate acquired in settlement of loans</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_MeasurementInputPrepaymentRateMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Involuntary Prepayment Speed [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_MeasurementInputPrepaymentRateMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Measurement Input, Prepayment Rate [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_DerivativesFairValueLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Derivatives Fair Value [Line Items]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_DerivativesFairValueLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Derivatives, Fair Value [Line Items]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ExcessServicingSpreadRecaptureReceivedAsExcessServicingSpread_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Excess Servicing Spread Recapture Received As Excess Servicing Spread</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ExcessServicingSpreadRecaptureReceivedAsExcessServicingSpread_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">ESS received pursuant to a recapture agreement with PFSI</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ExcessServicingSpreadRecaptureReceivedAsExcessServicingSpread_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Received pursuant to a recapture agreement</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ExcessServicingSpreadRecaptureReceivedAsExcessServicingSpread_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Represents excess servicing spread recapture received by the Company in settlement of its recapture agreement with an affiliate in compensation for the affiliate's refinancing of mortgage loans underlying excess servicing spread assets.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_RjBrienAssociatesLlcMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">RJ O'Brien &amp; Associates, LLC [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_RjBrienAssociatesLlcMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Rj Brien Associates Llc [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_RjBrienAssociatesLlcMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">RJ O'Brien &amp; Associates, LLC [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_AssetsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">ASSETS</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_AssetsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Assets [Abstract]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_AmortizationOfFinancingCostsAndDiscounts_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Amortization of Debt Issuance Costs and Discounts, Total</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_AmortizationOfFinancingCostsAndDiscounts_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Amortization of premiums and debt issuance costs</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_AmortizationOfFinancingCostsAndDiscounts_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Amortization of debt issuance costs</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_AmortizationOfFinancingCostsAndDiscounts_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">(Accrual) amortization of premiums and of debt issuance costs</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FinancialInstrumentsOwnedMortgagesMortgageBackedAndAssetBackedSecuritiesChangesInFairValueIncludedInIncomeAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Changes in fair value included in income arising from:</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FinancialInstrumentsOwnedMortgagesMortgageBackedAndAssetBackedSecuritiesChangesInFairValueIncludedInIncomeAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Financial Instruments Owned Mortgages Mortgage Backed And Asset Backed Securities Changes In Fair Value Included In Income [Abstract]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FinancialInstrumentsOwnedMortgagesMortgageBackedAndAssetBackedSecuritiesChangesInFairValueIncludedInIncomeAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Financial instruments owned mortgages mortgage backed and asset backed securities changes in fair value included in income.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_OtherOperatingIncomeLossNet_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Other</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_OtherOperatingIncomeLossNet_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Other Operating Income Loss Net</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_OtherOperatingIncomeLossNet_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Other operating income (loss) net.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ScheduleOfSecuredNotePayableOfCreditRiskTransferAndMortgageServicingRightsTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Summary of Financial Information Relating to Note Payable Secured by Credit Risk Transfer and Mortgage Servicing Assets</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ScheduleOfSecuredNotePayableOfCreditRiskTransferAndMortgageServicingRightsTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Schedule Of Secured Note Payable Of Credit Risk Transfer And Mortgage Servicing Rights Table [Text Block]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ScheduleOfSecuredNotePayableOfCreditRiskTransferAndMortgageServicingRightsTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Schedule of secured note payable of credit risk transfer and mortgage servicing rights.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_DocumentAndEntityInformationLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Document And Entity Information [Line Items]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_DocumentAndEntityInformationLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Document And Entity Information [Line Items]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_DocumentAndEntityInformationLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Document and entity information.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_DocumentFiscalYearFocus_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Document Fiscal Year Focus</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_DocumentFiscalYearFocus_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Document Fiscal Year Focus</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoansOnRealEstateAdjustedLoanCommitments_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Mortgage adjusted loan commitments</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoansOnRealEstateAdjustedLoanCommitments_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Mortgage Loans On Real Estate Adjusted Loan Commitments</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoansOnRealEstateAdjustedLoanCommitments_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Mortgage loans on real estate adjusted loan commitments.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_SummaryOfUnpaidBalanceInformationForMortgageLoansUponSaleOfLoansInTransactionsTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Summary of Collection Status Information for Loans Accounted for Sales</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_SummaryOfUnpaidBalanceInformationForMortgageLoansUponSaleOfLoansInTransactionsTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Summary Of Unpaid Balance Information For Mortgage Loans Upon Sale Of Loans In Transactions Table [Text Block]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_SummaryOfUnpaidBalanceInformationForMortgageLoansUponSaleOfLoansInTransactionsTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Summary of&#8203; unpaid&#8203; balance information&#8203; for&#8203; mortgage&#8203; loans&#8203; upon&#8203; sale&#8203; of loans in transactions&#8203;.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_NetGainsLossesOnInvestmentsAndFinancingsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Net (Losses) Gains on Investments and Financings [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_NetGainsLossesOnInvestmentsAndFinancingsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Net Gains Losses On Investments And Financings [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_NetGainsLossesOnInvestmentsAndFinancingsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Net gains (losses) on investments and financings.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FairValueOfCreditRiskTransferDerivativesLiabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Fair value of CRT derivatives liabilities</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FairValueOfCreditRiskTransferDerivativesLiabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Fair Value Of Credit Risk Transfer Derivatives Liabilities</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FairValueOfCreditRiskTransferDerivativesLiabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Fair value of credit risk transfer derivatives liabilities.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_IncreaseDecreaseInServicingAdvances_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Decrease in servicing advances</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_IncreaseDecreaseInServicingAdvances_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Increase Decrease In Servicing Advances</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_IncreaseDecreaseInServicingAdvances_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Increase (Decrease) in Servicing Advances</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageServicingRightsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Mortgage servicing rights [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageServicingRightsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Mortgage Servicing Rights [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageServicingRightsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Mortgage servicing rights.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_PurchaseCommitmentMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Purchase Commitment [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_PurchaseCommitmentMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Purchase Commitment [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Cash flows from investing activities</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Cash Provided by (Used in) Investing Activity, Including Discontinued Operation [Abstract]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FairValueOptionNonCreditRiskGainsLossesOnAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Changes in fair value of mortgage loans attributable to changes in inputs other than credit.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FairValueOptionNonCreditRiskGainsLossesOnAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Fair Value Option Non Credit Risk Gains Losses On Assets</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FairValueOptionNonCreditRiskGainsLossesOnAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Other factors</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_CorrespondentProductionMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Correspondent Production [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_CorrespondentProductionMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Correspondent Production [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_CorrespondentProductionMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Correspondent Production [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_InterestExpenseLongTermDebt_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Interest expense</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_InterestExpenseLongTermDebt_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Interest Expense, Long-Term Debt, Total</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_InterestExpenseLongTermDebt_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Total interest expense</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_InterestExpenseLongTermDebt_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Unsecured senior notes</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_PaymentsOfDividendsPreferredStockAndPreferenceStock_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Payment of dividends to preferred shareholders</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_PaymentsOfDividendsPreferredStockAndPreferenceStock_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Payments of Ordinary Dividends, Preferred Stock and Preference Stock</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_DelinquentAmountInCOVID19PandemicRelatedForbearanceAtEndOfPeriodOnLoansManagedAndSecuritizedOneHundredAndEightyOrMoreDaysNotInForeclosure_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">180 or more days delinquent</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_DelinquentAmountInCOVID19PandemicRelatedForbearanceAtEndOfPeriodOnLoansManagedAndSecuritizedOneHundredAndEightyOrMoreDaysNotInForeclosure_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Delinquent Amount In C O V I D19 Pandemic Related Forbearance At End Of Period On Loans Managed And Securitized One Hundred And Eighty Or More Days Not In Foreclosure</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_DelinquentAmountInCOVID19PandemicRelatedForbearanceAtEndOfPeriodOnLoansManagedAndSecuritizedOneHundredAndEightyOrMoreDaysNotInForeclosure_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Delinquent amount in COVID19 pandemic related forbearance at end of period on loans managed and securitized one hundred and eighty or more days not in foreclosure.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ShareBasedCompensationArrangementByShareBasedPaymentAwardVestedWithZeroAttainment_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Share vested vested with zero attainment</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ShareBasedCompensationArrangementByShareBasedPaymentAwardVestedWithZeroAttainment_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Share Based Compensation Arrangement by Share Based Payment Award Vested With Zero Attainment</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ShareBasedCompensationArrangementByShareBasedPaymentAwardVestedWithZeroAttainment_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Share based compensation arrangement by share based payment award vested with zero attainment.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_InvestmentsInDebtAndMarketableEquitySecuritiesAndCertainTradingAssetsDisclosureTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_InvestmentsInDebtAndMarketableEquitySecuritiesAndCertainTradingAssetsDisclosureTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Net (Losses) Gains on Investments and Financings</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_RepaymentsOfAssetsSoldUnderAgreementsToRepurchase_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Repurchase of assets sold under agreements to repurchase</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_RepaymentsOfAssetsSoldUnderAgreementsToRepurchase_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Repayments Of Assets Sold Under Agreements To Repurchase</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_RepaymentsOfAssetsSoldUnderAgreementsToRepurchase_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Repayments of Assets Sold Under Agreements to Repurchase</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_NotesPayableSecuredByCreditRiskTransferAndMortgageServicingAssetsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Notes Payable Secured by Credit Risk Transfer and Mortgage Servicing Assets [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_NotesPayableSecuredByCreditRiskTransferAndMortgageServicingAssetsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Notes Payable Secured By Credit Risk Transfer And Mortgage Servicing Assets [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_NotesPayableSecuredByCreditRiskTransferAndMortgageServicingAssetsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Notes payable secured by credit risk transfer and mortgage servicing assets.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ContractuallySpecifiedServicingFeesAmount_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Contractually specified</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ContractuallySpecifiedServicingFeesAmount_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Contractually-specified servicing fees</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ContractuallySpecifiedServicingFeesAmount_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Contractually Specified Servicing Fees, Amount</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_InterestOnlySecurityPayableMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Interest-only security payable [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_InterestOnlySecurityPayableMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Interest Only Security Payable [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_InterestOnlySecurityPayableMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Interest Only Security Payable [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_NonRule10B51ArrModifiedFlag_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Non Rule 10 b 51 Arr Modified Flag</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_NonRule10B51ArrModifiedFlag_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Non rule 10 b 51 arr modified flag.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_NonRule10B51ArrModifiedFlag_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Non-Rule 10b5-1 Arrangement Modified</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_DocumentAndEntityInformationTable_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Document And Entity Information [Table]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_DocumentAndEntityInformationTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Document And Entity Information [Table]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_DocumentAndEntityInformationTable_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Document and entity information.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="srt_RestatementDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Revision of Prior Period</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="srt_RestatementDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Revision of Prior Period [Domain]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ManagingRisksInherentInServicingAssetsAndServicingLiabilitiesByTypeOfRiskAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Servicing Assets and Servicing Liabilities Risk</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ManagingRisksInherentInServicingAssetsAndServicingLiabilitiesByTypeOfRiskAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Servicing Assets and Servicing Liabilities Risk [Axis]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_SwaptionPurchaseContractsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Swaption Purchase Contracts</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_SwaptionPurchaseContractsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Swaption Purchase Contracts [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_SwaptionPurchaseContractsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Swaption purchase contracts.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_FairValueMeasurementPolicyPolicyTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Fair Value</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_FairValueMeasurementPolicyPolicyTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Fair Value Measurement, Policy [Policy Text Block]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ConvertibleDebt_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Exchangeable senior notes</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ConvertibleDebt_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Exchangeable senior notes</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ConvertibleDebt_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Convertible Debt</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_OtherLiabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Due to PennyMac Financial Services, Inc.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_OtherLiabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Other Liabilities</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_OtherLiabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">PMT agreed to reimburse PCM for a payment</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_OtherLiabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Total expense due to affiliate</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_InitialExchangeableRateMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Initial Exchangeable Rate [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_InitialExchangeableRateMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Initial Exchangeable Rate [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_InitialExchangeableRateMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Initial Exchangeable Rate [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ScheduleOfOtherAssetsTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Summary of Other Assets</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ScheduleOfOtherAssetsTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Schedule of Other Assets [Table Text Block]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_IncreaseDecreaseDueFromAffiliates_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Increase (Decrease) Due from Affiliates</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_IncreaseDecreaseDueFromAffiliates_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Decrease in due from PennyMac Financial Services, Inc.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_DerivativeAndCreditRiskTransferStripAssetsPledgedToCreditors_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Derivative and credit risk transfer strip assets pledged to secure</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_DerivativeAndCreditRiskTransferStripAssetsPledgedToCreditors_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Derivative And Credit Risk Transfer Strip Assets Pledged To Creditors</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_DerivativeAndCreditRiskTransferStripAssetsPledgedToCreditors_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Derivative and credit risk transfer strip assets pledged to creditors.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_AccountingStandardsUpdate202006Member_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Accounting Standards Update 2020-06 [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_AccountingStandardsUpdate202006Member_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Accounting Standards Update 2020-06 [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_SixMarchTwentyTwentyFourMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">March 6, 2024 [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_SixMarchTwentyTwentyFourMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Six march twenty twenty four.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_SixMarchTwentyTwentyFourMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Six March Twenty Twenty Four [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_FairValueDisclosuresAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Fair Value Disclosures [Abstract]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_DebtInstrumentRedemptionPeriodEndDate_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Debt Instrument, Redemption Period, End Date</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_DebtInstrumentRedemptionPeriodEndDate_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Redemption date</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_CommitmentsAndContingenciesDisclosureAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Commitments and Contingencies Disclosure [Abstract]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ReceiptOfMortgageServicingRightsAsProceedsFromSalesOfLoans_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Receipt of mortgage servicing rights as proceeds from sales of loans</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ReceiptOfMortgageServicingRightsAsProceedsFromSalesOfLoans_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Receipt of MSRs in mortgage loan sale transactions</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ReceiptOfMortgageServicingRightsAsProceedsFromSalesOfLoans_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Receipt Of Mortgage Servicing Rights As Proceeds From Sales Of Loans</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ReceiptOfMortgageServicingRightsAsProceedsFromSalesOfLoans_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Receipt of MSRs as proceeds from sales of loans.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ReceiptOfMortgageServicingRightsAsProceedsFromSalesOfLoans_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel">Receipt of MSRs in mortgage loan sale transactions</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ScheduleOfAssetsSoldUnderAgreementsToRepurchaseTable_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Schedule Of Assets Sold Under Agreements To Repurchase [Table]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ScheduleOfAssetsSoldUnderAgreementsToRepurchaseTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Asset Sold under Agreement to Repurchase [Table]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_RepurchaseAgreementFacilities_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Repurchase agreement facilities</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_RepurchaseAgreementFacilities_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Repurchase agreement facilities</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_InterestRateSensitiveStrategiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Interest Rate Sensitive Strategies [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_InterestRateSensitiveStrategiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Interest Rate Sensitive Strategies [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_InterestRateSensitiveStrategiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Interest rate sensitive strategies.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Net Income (Loss) Available to Common Stockholders, Basic</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Net income attributable to common shareholders</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_IncreaseDecreaseInDueToAffiliates_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Increase (Decrease) in Due to Affiliates</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_IncreaseDecreaseInDueToAffiliates_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Increase (decrease) in due to PennyMac Financial Services, Inc.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_CommittedFacilitiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Committed Facilities [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_CommittedFacilitiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Committed Facilities [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_DebtInstrumentAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Debt Instrument</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_DebtInstrumentAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Debt Instrument [Axis]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_DerivativeInstrumentRiskAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Derivative Instrument</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_DerivativeInstrumentRiskAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Derivative Instrument [Axis]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_DerivativeFinancialInstrumentsAssetsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Derivative Financial Instruments, Assets [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_DerivativeFinancialInstrumentsAssetsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Derivative Assets [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ABCarvalMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">AB Carval [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ABCarvalMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">AB Carval.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Share-Based Payment Arrangement [Abstract]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_OtherRiskMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Other Factors [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_OtherRiskMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Other Risk [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_OtherRiskMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Other risk.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_AssetsFairValueDisclosure_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel">Total Assets</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_AssetsFairValueDisclosure_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Total Assets</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_AssetsFairValueDisclosure_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Assets, Fair Value Disclosure</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_CitigroupGlobalMarketsIncMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Citigroup Global Markets Inc. [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_CitigroupGlobalMarketsIncMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Citigroup Global Markets Inc [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_CitigroupGlobalMarketsIncMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Citigroup Global Markets Inc.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_MortgageLoansOnRealEstate_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Fair value, Total</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_MortgageLoansOnRealEstate_lbl" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel">SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Ending Balance</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_MortgageLoansOnRealEstate_lbl" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel">SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Beginning Balance</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_MortgageLoansOnRealEstate_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Loans held for investment at fair value</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_MortgageLoansOnRealEstate_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Loans held for investment at fair value</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_MortgageLoansOnRealEstate_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Loans held for investment at fair value ($10,866,292 and $8,530,939 pledged to creditors, respectively)</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoanParticipationAndSaleAgreementMaximumDailyOutstanding_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Maximum daily amount outstanding</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoanParticipationAndSaleAgreementMaximumDailyOutstanding_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Mortgage Loan Participation And Sale Agreement Maximum Daily Outstanding</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoanParticipationAndSaleAgreementMaximumDailyOutstanding_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Mortgage loan participation and sale agreement maximum daily outstanding.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_DistressedLoansMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Distressed loans [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_DistressedLoansMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Distressed Loans [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_DistressedLoansMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Distressed loans.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_AverageShareholdersEquityAmountsUsedToCalculateManagementFeeExpense_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Average shareholders' equity amounts used to calculate base management fee expense</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_AverageShareholdersEquityAmountsUsedToCalculateManagementFeeExpense_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Average Shareholders Equity Amounts Used To Calculate Management Fee Expense</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_AverageShareholdersEquityAmountsUsedToCalculateManagementFeeExpense_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Average shareholders' equity amounts used to calculate management fee expense.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivities_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Cash Provided by (Used in) Investing Activity, Including Discontinued Operation</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivities_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Net cash provided by investing activities</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_LoansHeldForSaleMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Loans Held For Sale [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_LoansHeldForSaleMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Loans held for sale.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Income attributable to participating securities</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Undistributed Earnings (Loss) Allocated to Participating Securities, Basic</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Undistributed Earnings (Loss) Allocated to Participating Securities, Basic, Total</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_Security12bTitle_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Title of 12(b) Security</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_Security12bTitle_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Title of 12(b) Security</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ScheduleOfSegmentReportingInformationBySegmentTable_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Schedule Of Segment Reporting Information By Segment [Table]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ScheduleOfSegmentReportingInformationBySegmentTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Schedule of Segment Reporting Information, by Segment [Table]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Derivative and Credit Risk Transfer Strip Assets and Liabilities</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Derivative Instruments and Hedging Activities Disclosure [Text Block]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Available amount for share repurchases</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Share Repurchase Program, Remaining Authorized, Amount</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_CashFlowsBetweenTransfereeAndTransferorProceedsFromNewTransfers_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Proceeds from sales</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_CashFlowsBetweenTransfereeAndTransferorProceedsFromNewTransfers_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Cash Flows Between Transferor and Transferee, Proceeds from New Transfers</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ScheduleOfInvestmentInMortgageBackedSecuritiesActivityTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Schedule of Investment in Mortgage Backed Securities Activity</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ScheduleOfInvestmentInMortgageBackedSecuritiesActivityTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Schedule Of Investment In Mortgage Backed Securities Activity Table [Text Block]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ScheduleOfInvestmentInMortgageBackedSecuritiesActivityTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Schedule of investment in mortgage backed securities activity.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_CommissionAmountMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Commission Amount</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_CommissionAmountMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Commission Amount [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_CommissionAmountMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Commission amount.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_RelatedPartyDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Related Party</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_RelatedPartyDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Related and Nonrelated Parties [Domain]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_IncomeTaxDisclosureTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Income Taxes</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_IncomeTaxDisclosureTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Income Tax Disclosure [Text Block]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="srt_MortgageLoansOnRealEstateLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Mortgage Loans on Real Estate [Line Items]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="srt_MortgageLoansOnRealEstateLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Mortgage Loans On Real Estate [Line Items]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="srt_MortgageLoansOnRealEstateLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label">SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_CommittedAmount_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Committed amount</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_CommittedAmount_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Committed Amount</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_CommittedAmount_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Committed amount.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MeasurementInputPullThroughRateMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Pull-Through Rate [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MeasurementInputPullThroughRateMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Measurement Input Pull Through Rate [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MeasurementInputPullThroughRateMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Measurement input pull through rate.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoansHeldForSaleOutstandingContractualPurchaseCommitments_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Mortgage Loans Held For Sale Outstanding Contractual Purchase Commitments</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoansHeldForSaleOutstandingContractualPurchaseCommitments_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Represents disclosure of amount of the company's contractual commitments to purchase recently originated mortgage loans.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoansHeldForSaleOutstandingContractualPurchaseCommitments_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Commitments to purchase loans held for sale from PLS</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ScheduleOfCollaborativeArrangementsAndNoncollaborativeArrangementTransactionsTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Collaborative Arrangement and Arrangement Other than Collaborative [Table]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_LateFeeIncomeGeneratedByServicingFinancialAssetsAmount_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Late charges</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_LateFeeIncomeGeneratedByServicingFinancialAssetsAmount_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Late Fee Income Generated by Servicing Financial Assets, Amount</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_RepaymentOfMortgageLoanParticipationPurchaseAndSaleAgreements_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Repayment of mortgage loan participation purchase and sale agreements</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_RepaymentOfMortgageLoanParticipationPurchaseAndSaleAgreements_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Repayment Of Mortgage Loan Participation Purchase And Sale Agreements</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_RepaymentOfMortgageLoanParticipationPurchaseAndSaleAgreements_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Repayment of mortgage loan participation purchase and sale agreements.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPurchasesAndIssuances_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Purchases and issuances</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPurchasesAndIssuances_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Purchases And Issuances</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPurchasesAndIssuances_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Fair Value Measurement with Unobservable Inputs Reconciliation Recurring Basis Asset Purchases And Issuances</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_UnpaidPrincipalBalanceOfLoansFulfilledByPLS_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Unpaid Principal Balance of Loans Fulfilled By PLS</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_UnpaidPrincipalBalanceOfLoansFulfilledByPLS_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Unpaid principal balance of loans fulfilled by PLS</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_UnpaidPrincipalBalanceOfLoansFulfilledByPLS_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Unpaid principal balance of loans fulfilled by PLS.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="srt_ConsolidatedEntitiesAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Consolidated Entities</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="srt_ConsolidatedEntitiesAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Consolidated Entities [Axis]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_LegalEntityAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Legal Entity</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_LegalEntityAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Legal Entity [Axis]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_IncomeTaxDisclosureAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Income Tax Disclosure [Abstract]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Table]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Fair Value, Recurring and Nonrecurring [Table]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_AdditionalPaidInCapitalMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Additional Paid-in Capital [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_AdditionalPaidInCapitalMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Additional Paid-in Capital [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MSRAtFairValueServiceFeeAnnualRate_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Weighted-average annual servicing fee rate (in basis points), Fair value input</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MSRAtFairValueServiceFeeAnnualRate_lbl" xlink:role="http://www.xbrl.org/2003/role/label">M S R At Fair Value Service Fee Annual Rate</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MSRAtFairValueServiceFeeAnnualRate_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">MSR at fair value service fee annual rate.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_TransferToAgencyOfMortgageServicingRightsRelatingToDelinquentLoans_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Transfer To Agency Of Mortgage Servicing Rights Relating To Delinquent Loans</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_TransferToAgencyOfMortgageServicingRightsRelatingToDelinquentLoans_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Transfer to agency of mortgage servicing rights relating to delinquent loans.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_TransferToAgencyOfMortgageServicingRightsRelatingToDelinquentLoans_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Transfers to Agency of mortgage servicing rights relating to delinquent loans</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_FairValueMeasurementFrequencyDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Measurement Frequency</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_FairValueMeasurementFrequencyDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Measurement Frequency [Domain]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="srt_StockRepurchaseProgramAuthorizedAmount1_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Common stock shares repurchase authorized amount before transaction fees</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="srt_StockRepurchaseProgramAuthorizedAmount1_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Share Repurchase Program, Authorized, Amount</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_IncomeStatementLocationAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Net Gains on Loans Acquired for Sale [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_IncomeStatementLocationAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Statement of Income Location, Balance [Axis]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_SeniorNotesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Senior Notes [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_SeniorNotesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Senior Notes [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_NewAccountingPronouncementsOrChangeInAccountingPrincipleLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">New Accounting Pronouncements Or Change In Accounting Principle [Line Items]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_NewAccountingPronouncementsOrChangeInAccountingPrincipleLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label">New Accounting Pronouncements or Change in Accounting Principle [Line Items]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageBackedSecuritiesDisclosureTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Mortgage-Backed Securities</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageBackedSecuritiesDisclosureTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Mortgage Backed Securities Disclosure [Text Block]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageBackedSecuritiesDisclosureTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Mortgage backed securities.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_TradingSymbol_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Trading Symbol</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_TradingSymbol_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Trading Symbol</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_BaseServicesFeesToRelatedParty_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Base servicing fees per month</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_BaseServicesFeesToRelatedParty_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Base Services Fees To Related Party</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_BaseServicesFeesToRelatedParty_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Base Services Fees To Related Party</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Schedule Of Related Party Transactions By Related Party [Table]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Related Party Transaction [Table]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ProceedsFromNotesPayable_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Proceeds from Notes Payable, Total</link:label>
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          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ProceedsFromNotesPayable_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Proceeds from Notes Payable</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_CoronavirusAidReliefAndEconomicSecurityActMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">CARES Act [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_CoronavirusAidReliefAndEconomicSecurityActMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Coronavirus Aid Relief And Economic Security Act [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_CoronavirusAidReliefAndEconomicSecurityActMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">CARES Act.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_DerivativeAndCreditRiskTransferStripAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Derivative and credit risk transfer strip assets</link:label>
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          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_DerivativeAndCreditRiskTransferStripAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Derivative and credit risk transfer strip assets.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FinancialInstrumentsOwnedMortgagesMortgageBackedAndAssetBackedSecuritiesChangesInFairValueRecordedInIncome_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Total changes in fair value included in income</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FinancialInstrumentsOwnedMortgagesMortgageBackedAndAssetBackedSecuritiesChangesInFairValueRecordedInIncome_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Financial Instruments Owned Mortgages Mortgage Backed And Asset Backed Securities Changes In Fair Value Recorded In Income</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FinancialInstrumentsOwnedMortgagesMortgageBackedAndAssetBackedSecuritiesChangesInFairValueRecordedInIncome_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Financial instruments owned mortgages mortgage backed and asset backed securities changes in fair value recorded in income.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_LoansHeldForInvestmentMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Loans Held for Investment [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_LoansHeldForInvestmentMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Loans held for investment.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_AssetsSoldUnderAgreementsToRepurchaseRepurchaseLiability_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Assets sold under agreements to repurchase, At year end</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_AssetsSoldUnderAgreementsToRepurchaseRepurchaseLiability_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Assets sold under agreements to repurchase</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_AssetsSoldUnderAgreementsToRepurchaseRepurchaseLiability_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Assets Sold under Agreements to Repurchase, Repurchase Liability</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_SubsequentEventTypeAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Subsequent Event Type [Axis]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FannieMaeMortgageServicingRightsFinancingMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Fannie Mae Mortgage Servicing Rights Financing [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FannieMaeMortgageServicingRightsFinancingMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Fannie Mae mortgage servicing rights financing.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_TransferOfOtherRealEstate_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Real Estate Owned, Transfer from Real Estate Owned</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_TransferOfOtherRealEstate_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Loans from REO</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_GainLossOnCreditRiskTransferArrangements_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Credit risk transfer arrangements</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_GainLossOnCreditRiskTransferArrangements_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Gain Loss On Credit Risk Transfer Arrangements</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_GainLossOnCreditRiskTransferArrangements_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Gain loss on credit risk transfer arrangements.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ScheduleOfExpensesRelatedToTransactionWithAffiliateTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Summary of Expenses</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ScheduleOfExpensesRelatedToTransactionWithAffiliateTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Schedule Of Expenses Related To Transaction With Affiliate Table [Text Block]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ScheduleOfExpensesRelatedToTransactionWithAffiliateTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Schedule of expenses related to transaction with affiliate.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_AverageMortgageServicingRightsServicingPortfolio_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Average MSR servicing portfolio</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_AverageMortgageServicingRightsServicingPortfolio_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Average Mortgage Servicing Rights Servicing Portfolio</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_AverageMortgageServicingRightsServicingPortfolio_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Average mortgage servicing rights servicing portfolio.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_SeptemberTwoThousandTwentyThreeMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">September Two Thousand Twenty Three [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_SeptemberTwoThousandTwentyThreeMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">September Two Thousand Twenty Three.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_SeptemberTwoThousandTwentyThreeMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">September 2023 [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FairValueOptionLoansHeldAsAssetsNinetyDaysOrLessPastDueAggregateDifference_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Current through 89 days delinquent</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FairValueOptionLoansHeldAsAssetsNinetyDaysOrLessPastDueAggregateDifference_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Fair Value Option Loans Held As Assets Ninety Days Or Less Past Due Aggregate Difference</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FairValueOptionLoansHeldAsAssetsNinetyDaysOrLessPastDueAggregateDifference_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Aggregate difference between fair value and unpaid principal balance mortgage loans carried at fair value under the fair value option and less than 90 days past due.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Cash flows from financing activities</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Cash Provided by (Used in) Financing Activity, Including Discontinued Operation [Abstract]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_FairValueMeasurementsRecurringMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Recurring [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_FairValueMeasurementsRecurringMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Fair Value, Recurring [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_FinancialInstrumentsOwnedMortgagesMortgageBackedAndAssetBackedSecuritiesAtFairValue_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Fair value</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_FinancialInstrumentsOwnedMortgagesMortgageBackedAndAssetBackedSecuritiesAtFairValue_lbl" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel">Balance at beginning of quarter</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_FinancialInstrumentsOwnedMortgagesMortgageBackedAndAssetBackedSecuritiesAtFairValue_lbl" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel">Balance at end of quarter</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_FinancialInstrumentsOwnedMortgagesMortgageBackedAndAssetBackedSecuritiesAtFairValue_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Financial Instruments, Owned, Mortgages, Mortgage-Backed and Asset-Backed Securities, at Fair Value</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_FinancialInstrumentsOwnedMortgagesMortgageBackedAndAssetBackedSecuritiesAtFairValue_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Mortgage-backed securities at fair value pledged to creditors</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_FinancialInstrumentsOwnedMortgagesMortgageBackedAndAssetBackedSecuritiesAtFairValue_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Mortgage-backed securities</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_VIEsLoanMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">V I Es Loan [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_VIEsLoanMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">VIEs loan member.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_VIEsLoanMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Loans in Variable Interest Entities [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ProceedsFromSaleOfRealEstateAcquiredInSettlementOfLoans_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Sale of real estate acquired in settlement of loans</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ProceedsFromSaleOfRealEstateAcquiredInSettlementOfLoans_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Proceeds From Sale Of Real Estate Acquired In Settlement Of Loans</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ProceedsFromSaleOfRealEstateAcquiredInSettlementOfLoans_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Amount represents the cash inflows from the sale of real estate acquired in settlement of mortgage loans.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Fair Value Measurement Inputs and Valuation Techniques [Line Items]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ResidentialTransitionLoansMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Residential transition loans [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ResidentialTransitionLoansMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">ResidentialTransitionLoans.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ResidentialTransitionLoansMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Residential Transition Loans [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_AgencyFixedRatePassThroughSectionsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Agency Fixed Rate Pass Through Securities [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_AgencyFixedRatePassThroughSectionsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Agency Fixed Rate Pass Through Sections [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_AgencyFixedRatePassThroughSectionsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Agency fixed-rate pass-through sections.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_AgencyFixedRatePassThroughSectionsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Agency Fixed Rate Pass Through [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_AggregationAndSecuritizationMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Aggregation And Securitization [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_AggregationAndSecuritizationMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Aggregation and Securitization.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_AggregationAndSecuritizationMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Aggregation and Securitization [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MaturityNineZeroToOneEightZeroDaysMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Over 90 days to 180 days [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MaturityNineZeroToOneEightZeroDaysMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Maturity Nine Zero To One Eight Zero Days [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MaturityNineZeroToOneEightZeroDaysMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Maturity of repurchase agreement over 90 days to 180 days.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_StatementEquityComponentsAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Equity Components</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_StatementEquityComponentsAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Equity Components [Axis]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_DebtInstrumentExtendedTerminationDate_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Extended termination date of debt instrument</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_DebtInstrumentExtendedTerminationDate_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Debt Instrument Extended Termination Date</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_DebtInstrumentExtendedTerminationDate_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Debt instrument extended termination date.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MizuhoFinancialGroupMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Mizuho Financial Group [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MizuhoFinancialGroupMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Mizuho Financial Group [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MizuhoFinancialGroupMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Mizuho Financial Group.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_LoanAndSecurityAgreementWithCitibankMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Loan And Security Agreement With Citibank [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_LoanAndSecurityAgreementWithCitibankMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Loan And Security Agreement With Citibank [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_LoanAndSecurityAgreementWithCitibankMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Loan and security agreement with citibank member.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_EquityComponentDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Equity Component</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_EquityComponentDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Equity Component [Domain]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ScheduleOfShareBasedCompensationActivityTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Summary of Share-Based Compensation Activity</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ScheduleOfShareBasedCompensationActivityTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Share-Based Payment Arrangement, Activity [Table Text Block]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_OnePointTwoFivePercentOfStockholdersEquityMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">1.25% per annum of stockholders equity [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_OnePointTwoFivePercentOfStockholdersEquityMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">One Point Two Five Percent Of Stockholders Equity [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_OnePointTwoFivePercentOfStockholdersEquityMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Represents the annualized rate at which the base portion of the management fee is calculated for shareholders' equity amounts in excess of $5 billion.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_FairValueByAssetClassAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Asset Class</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_FairValueByAssetClassAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Asset Class [Axis]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_PercentageOfPerformanceIncentiveFeePaidInCommonShares_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Percentage of performance incentive fee paid in Company's common shares</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_PercentageOfPerformanceIncentiveFeePaidInCommonShares_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Percentage Of Performance Incentive Fee Paid In Common Shares</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_PercentageOfPerformanceIncentiveFeePaidInCommonShares_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Represents the maximum percentage of performance incentive fee payable in shares of the Company's common stock.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="srt_MortgageLoansOnRealEstateDescriptionLoanCategoryAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Loan Category</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="srt_MortgageLoansOnRealEstateDescriptionLoanCategoryAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label">SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Loan Category [Axis]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_PercentageOfRightToPurchaseNongovernmentInsuredOrGuaranteedLoans_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Percentage Of Right To Purchase Nongovernment Insured Or Guaranteed Loans</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_PercentageOfRightToPurchaseNongovernmentInsuredOrGuaranteedLoans_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Percentage of right to purchase non-government insured or guaranteed loans.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_PercentageOfRightToPurchaseNongovernmentInsuredOrGuaranteedLoans_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Percentage of right to purchase non-government insured or guaranteed loans</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_CarryingValueOfCreditRiskTransferAgreementsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Carrying Value Of Credit Risk Transfer Agreements [Abstract]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_CarryingValueOfCreditRiskTransferAgreementsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Carrying Value of Credit Risk Transfer Agreements [Abstract]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_CarryingValueOfCreditRiskTransferAgreementsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Carrying value of credit risk transfer arrangements:</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_WellsFargoSecuritiesLLCMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Wells Fargo Securities L L C</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_WellsFargoSecuritiesLLCMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Wells Fargo Securities L L C [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_WellsFargoSecuritiesLLCMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Wells Fargo Securities, LLC.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_IncreaseDecreaseInMarginDepositsOutstandingInvestingActivities_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Increase Decrease In Margin Deposits Outstanding Investing Activities</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_IncreaseDecreaseInMarginDepositsOutstandingInvestingActivities_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">The increase (decrease) during the reporting period in money or securities placed with a broker or counterparty as security for a trading or derivative position reported in investing activities.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_IncreaseDecreaseInMarginDepositsOutstandingInvestingActivities_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Decrease (increase) in margin deposits</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_IncreaseDecreaseInMarginDepositsOutstandingInvestingActivities_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Decrease (increase) in margin deposits</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_MeasurementInputLossSeverityMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Measurement Input, Loss Severity [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_MeasurementInputLossSeverityMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Measurement Input, Loss Severity</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_LoansManagedAndSecuritizedCustodialFundsManaged_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Custodial funds managed by the Company</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_LoansManagedAndSecuritizedCustodialFundsManaged_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Loans Managed And Securitized Custodial Funds Managed</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_LoansManagedAndSecuritizedCustodialFundsManaged_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Represents custodial funds managed relating to mortgage loans sold and serviced by the company.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures, Total</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Share-based compensation, Shares</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_TradingActivityByTypeDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Trading Activity, by Type</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_TradingActivityByTypeDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Trading Activity, by Type [Domain]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAccrualOfUnearnedDiscount_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Fair value measurement with unobservable inputs reconciliation recurring basis accrual of unearned discount.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAccrualOfUnearnedDiscount_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Fair value measurement with unobservable inputs reconciliation recurring basis accrual of unearned discount</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAccrualOfUnearnedDiscount_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Accrual of unearned discount</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ScheduleOfInvestmentIncomeReportedAmountsByCategoryLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Schedule Of Investment Income Reported Amounts By Category [Line Items]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ScheduleOfInvestmentIncomeReportedAmountsByCategoryLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Net Investment Income [Line Items]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FreddieMacCreditAgreementsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Freddie Mac Credit Agreements [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FreddieMacCreditAgreementsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Freddie Mac Credit Agreements [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FreddieMacCreditAgreementsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Freddie mac credit agreements.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_OtherAssetsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Other Assets [Abstract]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_UnsecuredSeniorNotesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Unsecured senior notes.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_UnsecuredSeniorNotesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Unsecured Senior Notes [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_UnsecuredSeniorNotesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Unsecured Senior Notes</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_UnsecuredSeniorNotesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Unsecured Senior Notes [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_RealEstateAcquiredThroughForeclosureRemeasuredDuringPeriod_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Real estate acquired in settlement of loans</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_RealEstateAcquiredThroughForeclosureRemeasuredDuringPeriod_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Real Estate Acquired Through Foreclosure Remeasured During Period</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_RealEstateAcquiredThroughForeclosureRemeasuredDuringPeriod_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Period-end carrying value of real estate acquired in settlement of loans re-measured during the period.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_InvestmentIncomeNetAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Net investment income:</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_InvestmentIncomeNetAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Net investment income</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_InvestmentIncomeNetAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Investment Income, Net [Abstract]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="srt_MaximumMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Maximum [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="srt_MaximumMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Maximum [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_EquityDistributionAgreementMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Equity Distribution Agreement [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_EquityDistributionAgreementMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Equity Distribution Agreement [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_EquityDistributionAgreementMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Equity Distribution Agreement.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_DebtInstrumentConvertibleConversionRatio1_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Number of shares exchanged per exchangeable notes</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_DebtInstrumentConvertibleConversionRatio1_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Debt Instrument, Convertible, Conversion Ratio</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ScheduleOfComplianceWithRegulatoryCapitalRequirementsForMortgageCompaniesTable_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Schedule Of Compliance With Regulatory Capital Requirements For Mortgage Companies [Table]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ScheduleOfComplianceWithRegulatoryCapitalRequirementsForMortgageCompaniesTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Banking Regulation, Mortgage Banking, Capital Requirement [Table]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ScheduleOfStockByClassTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Schedule of Preferred Shares of Beneficial Interest</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ScheduleOfStockByClassTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Schedule of Stock by Class [Table Text Block]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_CreditRiskMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Credit Risk [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_CreditRiskMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Credit Risk [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="srt_RangeAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Statistical Measurement</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="srt_RangeAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Statistical Measurement [Axis]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoansAcquiredForSaleMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Mortgage Loans Acquired for Sale [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoansAcquiredForSaleMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Mortgage Loans Acquired For Sale [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoansAcquiredForSaleMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Mortgage loans acquired for sale.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoansAcquiredForSaleMember_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Loans acquired for sale [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_CommonStockValue_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Common Stock, Value, Issued</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_CommonStockValue_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Common shares of beneficial interest, $0.01 par value - authorized, 500,000,000 issued and outstanding, 87,191,663 and 87,016,604 shares, respectively</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_GainsLossesRecognizedOnCreditRiskTransferAgreements_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Gains Losses Recognized On Credit Risk Transfer Agreements</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_GainsLossesRecognizedOnCreditRiskTransferAgreements_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Gains losses recognized on credit risk transfer agreements.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_GainsLossesRecognizedOnCreditRiskTransferAgreements_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Gains recognized on gross derivative related to credit risk transactions</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_NomuraHoldingsAmericaIncMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Nomura Holdings America, Inc [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_NomuraHoldingsAmericaIncMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Nomura Holdings America Inc [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_NomuraHoldingsAmericaIncMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Nomura holdings america Inc.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_NetIncomeLossAvailableToCommonStockholdersDiluted_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Diluted net income (loss) attributable to common shareholders</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_NetIncomeLossAvailableToCommonStockholdersDiluted_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Net Income (Loss) Available to Common Stockholders, Diluted</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_NetIncomeLossAvailableToCommonStockholdersDiluted_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Diluted net (loss) income attributable to common shareholders</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FairValueInputAnnualPerLoanCostOfServicingDuringPeriod_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Fair Value inputs, Annual per loan cost of servicing during period</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FairValueInputAnnualPerLoanCostOfServicingDuringPeriod_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Fair value input annual per loan cost of servicing during period.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FairValueInputAnnualPerLoanCostOfServicingDuringPeriod_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Fair Value Input Annual Per Loan Cost Of Servicing During Period</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_DaiwaCapitalMarketsAmericaIncMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Daiwa Capital Markets America Inc. [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_DaiwaCapitalMarketsAmericaIncMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Daiwa Capital Markets America Inc [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_DaiwaCapitalMarketsAmericaIncMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Daiwa Capital Markets America, Inc. [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ExchangeableSeniorNotesDueTwoThousandAndTwentyFourAndTwoThousandAndTwentySixMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">2024 Exchangeable Notes and 2026 Exchangeable Notes [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ExchangeableSeniorNotesDueTwoThousandAndTwentyFourAndTwoThousandAndTwentySixMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Exchangeable Senior Notes Due Two Thousand And Twenty Four And Two Thousand And Twenty Six [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ExchangeableSeniorNotesDueTwoThousandAndTwentyFourAndTwoThousandAndTwentySixMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Exchangeable senior notes due two thousand and twenty four and two thousand and twenty six.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FloatingRateCollateralizedMortgageObligationsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Floating Rate Collateralized Mortgage Obligations Member</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FloatingRateCollateralizedMortgageObligationsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Floating rate collateralized mortgage obligations.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FloatingRateCollateralizedMortgageObligationsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Floating Rate Collateralized Mortgage Obligations [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_UnpaidBalanceMortgageLoansSoldWithContinuingInvolvementDelinquentNinetyDaysOrMoreAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">90 or more days delinquent:</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_UnpaidBalanceMortgageLoansSoldWithContinuingInvolvementDelinquentNinetyDaysOrMoreAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Unpaid Balance Mortgage Loans Sold With Continuing Involvement Delinquent Ninety Days Or More [Abstract]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_UnpaidBalanceMortgageLoansSoldWithContinuingInvolvementDelinquentNinetyDaysOrMoreAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Unpaid Balance Mortgage Loans Sold With Continuing Involvement Delinquent Ninety Days Or More [Abstract]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_LongTermDebtByMaturityTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Schedule of Contractual Maturities on Long Term Debt Obligations</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_LongTermDebtByMaturityTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Long Term Debt By Maturity Table [Text Block]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_LongTermDebtByMaturityTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Represents table detailing aggregate annual maturities on long-term debt obligations (based on final maturity dates).</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_DueFromCorrespondentBrokers_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Correspondent lending receivables</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_DueFromCorrespondentBrokers_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Due from Correspondent Brokers</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_PreferredStockDividendsIncomeStatementImpact_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Dividends on preferred shares</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_PreferredStockDividendsIncomeStatementImpact_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Preferred Stock Dividends, Income Statement Impact</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_PreferredStockDividendsIncomeStatementImpact_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Dividends on preferred shares of beneficial interest</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_InterestAndFeeIncomeLoansHeldForSaleMortgages_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Loans acquired for sale at fair value</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_InterestAndFeeIncomeLoansHeldForSaleMortgages_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Interest and Fee Income, Loan, Mortgage, Held-for-Sale</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_InterestAndFeeIncomeLoansHeldForSaleMortgages_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Loans held for sale</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_GainLossOnSaleOfDerivatives_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Hedging derivatives</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_GainLossOnSaleOfDerivatives_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Gain (Loss) on Sale of Derivatives</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_CreditRiskTransferDerivativesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">CRT Derivatives [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_CreditRiskTransferDerivativesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Credit Risk Transfer Derivatives</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_CreditRiskTransferDerivativesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Credit Risk Transfer Derivatives [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_CreditRiskTransferDerivativesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Credit risk transfer derivatives.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_PennymacFinancialServicesIncMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">PennyMac Financial Services, Inc. [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_PennymacFinancialServicesIncMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Pennymac Financial Services Inc [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_PennymacFinancialServicesIncMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">PennyMac Financial Services Inc.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageBackedSecuritiesAtFairValueMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Mortgage-backed securities at fair value.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageBackedSecuritiesAtFairValueMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Mortgage Backed Securities At Fair Value [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageBackedSecuritiesAtFairValueMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Mortgage-backed securities at fair value [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageBackedSecuritiesAtFairValueMember_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Mortgage Backed Securities at Fair Value [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MeasurementInputRemainingLossExpectationMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Remaining Loss Expectation [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MeasurementInputRemainingLossExpectationMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Measurement Input Remaining Loss Expectation [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MeasurementInputRemainingLossExpectationMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Measurement input remaining loss expectation.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_TaxableREITSubsidiaryMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Taxable REIT Subsidiary [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_TaxableREITSubsidiaryMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Taxable R E I T Subsidiary [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_TaxableREITSubsidiaryMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Taxable REIT Subsidiary [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_TaxableREITSubsidiaryMember_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">TRS [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_PreferredStockSharesAuthorized_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Preferred stock, shares authorized</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_PreferredStockSharesAuthorized_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Preferred Stock, Shares Authorized</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_GovernmentGuaranteedOrInsuredMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Government Guaranteed Or Insured [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_GovernmentGuaranteedOrInsuredMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Government Guaranteed Or Insured [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_GovernmentGuaranteedOrInsuredMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Government guaranteed or insured.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_InterestPayableCurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Accounts payable and accrued liabilities interest payable</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_InterestPayableCurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Interest Payable, Current</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ReimbursementOfCommonOverheadIncurredByAffiliates_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Common overhead incurred by PCM and its affiliates</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ReimbursementOfCommonOverheadIncurredByAffiliates_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Reimbursement Of Common Overhead Incurred By Affiliates</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ReimbursementOfCommonOverheadIncurredByAffiliates_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Reimbursement of common overhead incurred by affiliates.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ReimbursementOfCommonOverheadIncurredByAffiliates_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Common overhead</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageBackedSecuritiesPutOptionsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">MBS Put Options [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageBackedSecuritiesPutOptionsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Mortgage Backed Securities Put Options [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageBackedSecuritiesPutOptionsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Mortgage Backed Securities Put Options [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_NetIncomeExceedsTenPercentageMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Net income exceeds 10% [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_NetIncomeExceedsTenPercentageMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Net Income Exceeds Ten Percentage [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_NetIncomeExceedsTenPercentageMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Represents a threshold percentage for calculating the performance incentive portion of the Company's management fee.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_PaymentsRelatedToTaxWithholdingForShareBasedCompensation_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Payment, Tax Withholding, Share-Based Payment Arrangement</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_PaymentsRelatedToTaxWithholdingForShareBasedCompensation_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Payment of vested share-based compensation tax withholdings</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_OnePointThreeSevenFivePercentOfStockholdersEquityMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">1.375% per annum of stockholders equity [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_OnePointThreeSevenFivePercentOfStockholdersEquityMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">One Point Three Seven Five Percent Of Stockholders Equity [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_OnePointThreeSevenFivePercentOfStockholdersEquityMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Represents the annualized rate at which the base portion of the management fee is calculated for shareholders' equity amounts between $2 billion and $5 billion.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageServicingRightsRecaptureFees_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Mortgage Servicing Rights Recapture Fees</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageServicingRightsRecaptureFees_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Mortgage servicing rights recapture fees.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageServicingRightsRecaptureFees_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Mortgage servicing rights recapture fees</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_PledgedAssetsSeparatelyReportedLoanPledgedAsCollateralAtFairValue_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Pledged Assets Separately Reported Loan Pledged As Collateral At Fair Value</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_PledgedAssetsSeparatelyReportedLoanPledgedAsCollateralAtFairValue_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Pledged assets separately reported loan pledged as collateral at fair value.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_PledgedAssetsSeparatelyReportedLoanPledgedAsCollateralAtFairValue_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Loans held for investment at fair value, pledged to creditors</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_PledgedAssetsSeparatelyReportedLoanPledgedAsCollateralAtFairValue_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Loans held for investment at fair value, pledged to creditors</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_FederalNationalMortgageAssociationCertificatesAndObligationsFNMAMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Fannie Mae [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_FederalNationalMortgageAssociationCertificatesAndObligationsFNMAMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Federal National Mortgage Association Certificates and Obligations (FNMA) [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_FairValueBalanceSheetGroupingFinancialStatementCaptionsLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_FairValueBalanceSheetGroupingFinancialStatementCaptionsLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_RelatedPartyTransactionLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Related Party Transaction [Line Items]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_RelatedPartyTransactionLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Related Party Transaction [Line Items]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_EntityRegistrantName_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Entity Registrant Name</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_EntityRegistrantName_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Entity Registrant Name</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MaturityOneEightZeroDaysToOneYearMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Over 180 Days to 1 Year [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MaturityOneEightZeroDaysToOneYearMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Maturity One Eight Zero Days To One Year [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MaturityOneEightZeroDaysToOneYearMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Maturity of repurchase agreement over 180 days to 1 year.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FairValueOptionLoansHeldAsAssetsNotInForeclosureAggregateFairValue_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">90 or more days delinquent, not in foreclosure</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FairValueOptionLoansHeldAsAssetsNotInForeclosureAggregateFairValue_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Fair Value Option Loans Held As Assets Not In Foreclosure Aggregate Fair Value</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FairValueOptionLoansHeldAsAssetsNotInForeclosureAggregateFairValue_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Fair value of mortgage loans carried at fair value under the fair value option, more than 90 days past due and not in foreclosure.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ProceedsFromSaleOfMortgageLoansHeldForSale_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Proceeds from Sale, Loan, Mortgage, Held-for-Sale</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ProceedsFromSaleOfMortgageLoansHeldForSale_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Sale to nonaffiliates and repayment of loans held for sale</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_GinnieMaeMortgageLoansMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Ginnie Mae Mortgage Loans [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_GinnieMaeMortgageLoansMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Ginnie Mae Mortgage Loans [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_GinnieMaeMortgageLoansMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Ginnie Mae mortgage loans.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoansAcquiredForSaleAtFairValueMember_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Loans acquired for sale at fair value [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoansAcquiredForSaleAtFairValueMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Mortgage Loans Acquired For Sale At Fair Value [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoansAcquiredForSaleAtFairValueMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Total Aggregate difference between fair value and unpaid principal balance mortgage loans carried at fair value under the fair value option.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoansAcquiredForSaleAtFairValueMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Mortgage Loans Acquired For Sale At Fair Value [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_SubsequentEventsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Subsequent Events [Abstract]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_OtherAssetsDisclosureTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Other Assets</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_OtherAssetsDisclosureTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Other Assets Disclosure [Text Block]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_AssetsSoldUnderAgreementsToRepurchase_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Assets Sold Under Agreements To Repurchase</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_AssetsSoldUnderAgreementsToRepurchase_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Funded under committed facilities</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_AssetsSoldUnderAgreementsToRepurchase_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Assets Sold Under Agreements To Repurchase</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_AssetsSoldUnderAgreementsToRepurchase_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Amount of funds outstanding borrowed in the form of an asset repurchase agreement between PMT and another party for the sale and repurchase of identical or substantially the same assets at a date certain for a specified price.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_BankingAndThriftInterestAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Banking and Thrift, Interest [Abstract]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_GainLossOnAssetBackedFinancingAtFairValue_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Gain Loss On Asset Backed Financing At Fair Value</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_GainLossOnAssetBackedFinancingAtFairValue_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Gain loss on asset backed financing at fair value.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_GainLossOnAssetBackedFinancingAtFairValue_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Asset-backed financings</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_GainLossOnAssetBackedFinancingAtFairValue_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Asset-backed financings of variable interest entities at fair value</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_SecuredOvernightFinancingRateSofrOvernightIndexSwapRateMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Fixed-rate and prepayment sensitive assets and SOFR - indexed repurchase agreements [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_SecuredOvernightFinancingRateSofrOvernightIndexSwapRateMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="srt_ConsolidatedEntitiesDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Consolidated Entities</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="srt_ConsolidatedEntitiesDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Consolidated Entities [Domain]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ExchangeableSeniorNotesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Exchangeable Senior Notes [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ExchangeableSeniorNotesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Exchangeable senior notes.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ExchangeableSeniorNotesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Exchangeable Senior Notes [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_IncomeTaxExpenseBenefit_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Income Tax Expense (Benefit), Total</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_IncomeTaxExpenseBenefit_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Income Tax Expense (Benefit)</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_IncomeTaxExpenseBenefit_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">(Benefit from) provision for income taxes</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_IncomeTaxExpenseBenefit_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Provision for (benefit from) income taxes</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_FairValueByMeasurementFrequencyAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Recurring [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_FairValueByMeasurementFrequencyAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Measurement Frequency [Axis]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_CitibankMember_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Citibank, N.A. [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_CitibankMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Citibank, N.A. [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_CitibankMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Citibank [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_CitibankMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Citibank.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Share Based Compensation Arrangement By Share Based Payment Award [Line Items]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_CashPortionOfLossOnMortgageLoansAcquiredForSaleAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Cash losses:</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_CashPortionOfLossOnMortgageLoansAcquiredForSaleAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Cash Portion Of Loss On Mortgage Loans Acquired For Sale [Abstract]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_CashPortionOfLossOnMortgageLoansAcquiredForSaleAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Cash portion of loss on mortgage loans acquired for sale.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_EntityCommonStockSharesOutstanding_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Entity Common Stock, Shares Outstanding</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_EntityCommonStockSharesOutstanding_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Entity Common Stock, Shares Outstanding</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_SummaryOfMortgageServicingRightsTable_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Summary Of Mortgage Servicing Rights [Table]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_SummaryOfMortgageServicingRightsTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Summary Of Mortgage Servicing Rights [Table]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_SummaryOfMortgageServicingRightsTable_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Summary of mortgage servicing rights.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_InterestRateLockCommitmentsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Interest Rate Lock Commitments [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_InterestRateLockCommitmentsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Interest Rate Lock Commitments with PFSI [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_InterestRateLockCommitmentsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Interest Rate Lock Commitments [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FeesAndCommissionsMortgageBankingAndServicingMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Net Loan Servicing Fees [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FeesAndCommissionsMortgageBankingAndServicingMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Fees And Commissions Mortgage Banking And Servicing [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FeesAndCommissionsMortgageBankingAndServicingMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Fees and commissions mortgage banking and servicing.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ConvertibleDebtTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Convertible Debt [Table Text Block]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ConvertibleDebtTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Summary of Financial Information Relating to Unsecured Senior Notes</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MorganStanleyCoLLCMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Morgan Stanley &amp; Co. LLC [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MorganStanleyCoLLCMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Morgan Stanley Co L L C [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MorganStanleyCoLLCMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Morgan stanley &amp; co. Llc member</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_IncomeTaxLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Income Tax [Line Items]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_IncomeTaxLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Income Tax [Line Items]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_IncomeTaxLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Income tax.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_GainLossOnInvestments_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Net (loss) gain on investments</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_GainLossOnInvestments_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Gain (Loss) on Investments</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_GainLossOnInvestments_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Net (losses) gains on investments and financings</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Total share units granted</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_RealizedGainsLossesRecognizedOnCreditDefaultSwaps_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Realized</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_RealizedGainsLossesRecognizedOnCreditDefaultSwaps_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Realized Gains Losses Recognized On Credit Default Swaps</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_RealizedGainsLossesRecognizedOnCreditDefaultSwaps_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Represents the net gains or losses realized pursuant to credit risk transfer agreements.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_DerivativeAndCreditRiskTransferStripsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Derivative and CRT strips:</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_DerivativeAndCreditRiskTransferStripsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Derivative And Credit Risk Transfer Strips [Abstract]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_DerivativeAndCreditRiskTransferStripsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Derivative and credit risk transfer strips.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_PaymentsForProceedsFromShortTermInvestments_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Payments for (Proceeds from) Short-Term Investments, Total</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_PaymentsForProceedsFromShortTermInvestments_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Payments for (Proceeds from) Short-Term Investments</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_PaymentsForProceedsFromShortTermInvestments_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Net decrease (increase) in short-term investments</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_Assets_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Total assets</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_Assets_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Total assets at end of quarter</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_Assets_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Assets</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_NetDerivativeRelatedToCreditRiskTransferTransactionsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">CRT Derivatives [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_NetDerivativeRelatedToCreditRiskTransferTransactionsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Net Derivative Related To Credit Risk Transfer Transactions [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_NetDerivativeRelatedToCreditRiskTransferTransactionsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Net Derivative Related To Credit Risk Transfer Transactions [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_NetDerivativeRelatedToCreditRiskTransferTransactionsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Credit Risk Transfer / CRT Derivatives [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_IncomeStatementAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Income Statement [Abstract]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ContractuallySpecifiedServicingFeesLateFeesAndAncillaryFeesEarnedInExchangeForServicingFinancialAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Net mortgage loan servicing fees</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ContractuallySpecifiedServicingFeesLateFeesAndAncillaryFeesEarnedInExchangeForServicingFinancialAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Contractually Specified Servicing Fee, Late Fee, and Ancillary Fee Earned in Exchange for Servicing Financial Asset</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_SupplementalNonCashFinancingActivitiesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Non-cash financing activities:</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_SupplementalNonCashFinancingActivitiesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Supplemental Non Cash Financing Activities [Abstract]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_SupplementalNonCashFinancingActivitiesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Supplemental Non Cash Financing Activities [Abstract]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_NotesAndLoansReceivableGrossNoncurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Due from PFSI-Miscellaneous receivables</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_NotesAndLoansReceivableGrossNoncurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Financing Receivable, before Allowance for Credit Loss, Noncurrent</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="srt_WeightedAverageMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Weighted Average [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="srt_WeightedAverageMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Weighted Average [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_GainLossOnSalesOfLoansNet_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Gain (Loss) on Sales of Loans, Net, Total</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_GainLossOnSalesOfLoansNet_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Gain (Loss) on Sales of Loans, Net</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_GainLossOnSalesOfLoansNet_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Net gains on loans held for sale</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_GainLossOnSalesOfLoansNet_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Net gains on loans held for sale</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_GainLossOnSalesOfLoansNet_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Net gains on loans held for sale at fair value</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="srt_MortgageLoansOnRealEstateLoanCategoryDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Loan Category</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="srt_MortgageLoansOnRealEstateLoanCategoryDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label">SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Loan Category [Domain]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_HeldForSaleToNonaffiliatesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Held For Sale To Nonaffiliates [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_HeldForSaleToNonaffiliatesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Held for sale to nonaffiliates.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_GainLossOnInvestmentsMember1_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Gain (Loss) on Investments [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_GainLossOnInvestmentsMember1_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Net (Losses) Gains on Investments and Financings [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Total share units vested</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Vested in Period</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_EarningsPerShareDiluted_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Earnings Per Share, Diluted, Total</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_EarningsPerShareDiluted_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Earnings Per Share, Diluted</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_EarningsPerShareDiluted_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Basic earnings (losses) per share</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_EarningsPerShareDiluted_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Diluted</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_FairValueOptionQuantitativeDisclosuresLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Fair Value, Option, Quantitative Disclosures [Line Items]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_FairValueOptionQuantitativeDisclosuresLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Fair Value, Option, Quantitative Disclosures [Line Items]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Schedule of Segment Reporting Information, by Segment [Table Text Block]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Financial Highlights by Segment</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_SeniorNotesOneDueTwoThousandThirtyMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">9.00% Senior Notes Due 2030 [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_SeniorNotesOneDueTwoThousandThirtyMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Senior Notes One Due Two Thousand Thirty [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_SeniorNotesOneDueTwoThousandThirtyMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Senior notes one due two thousand thirty.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_AuctionMarketPreferredSecuritiesSharesRedeemed_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Preferred stock redemption share</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_AuctionMarketPreferredSecuritiesSharesRedeemed_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Auction Market Preferred Securities, Shares, Redeemed</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_SeniorLongTermNotes_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Aggregate principal amount</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_SeniorLongTermNotes_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Issuance of debt through private offering</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_SeniorLongTermNotes_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Senior Notes, Noncurrent</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_PurchaseCommitmentExcludingLongtermCommitmentDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Purchase Commitment, Excluding Long-term Commitment</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_PurchaseCommitmentExcludingLongtermCommitmentDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Purchase Commitment, Excluding Long-Term Commitment [Domain]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_CreditDerivativesByContractTypeAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Credit Derivatives Contract Type</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_CreditDerivativesByContractTypeAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Credit Derivatives Contract Type [Axis]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_DividendsCommonStock_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Dividends, Common Stock, Total</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_DividendsCommonStock_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Common share dividends</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_DividendsCommonStock_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Dividends, Common Stock</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_CityAreaCode_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">City Area Code</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_CityAreaCode_lbl" xlink:role="http://www.xbrl.org/2003/role/label">City Area Code</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_FairValueOptionQuantitativeDisclosuresTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Fair Values and Related Principal Amounts Due upon Maturity of Mortgage Loans Accounted for Under Fair Value Option</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_FairValueOptionQuantitativeDisclosuresTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Fair Value Option, Disclosures [Table Text Block]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_TradingActivityByTypeAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Trading Activity</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_TradingActivityByTypeAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Trading Activity [Axis]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ScheduleOfNetGainLossOnMortgageLoansHeldForSaleTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Schedule Of Net Gain Loss On Mortgage Loans Held For Sale Table [Text Block]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ScheduleOfNetGainLossOnMortgageLoansHeldForSaleTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Schedule of net gain loss on mortgage loans held for sale.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ScheduleOfNetGainLossOnMortgageLoansHeldForSaleTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Schedule of Net Gains on Investments and Financings</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_Series2023Vf1AndClassAVf1VariableFundingNoteMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Series 2023-VF1 and Class A-VF1 Variable Funding Note</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_Series2023Vf1AndClassAVf1VariableFundingNoteMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Series 2023 VF1 and Class A VF1 Variable Funding Note.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_Series2023Vf1AndClassAVf1VariableFundingNoteMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Series 2023 VF1 and Class A VF1 Variable Funding Note [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_PennyMacLoanServicesLlcMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">PennyMac Loan Services, LLC [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_PennyMacLoanServicesLlcMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Penny Mac Loan Services Llc [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_PennyMacLoanServicesLlcMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Penny Mac Loan Services LLC.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FannieMaeMSRFinancingMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Fannie Mae M S R Financing</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FannieMaeMSRFinancingMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Fannie Mae M S R Financing [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FannieMaeMSRFinancingMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Fannie mae M S R financing.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FannieMaeMSRFinancingMember_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Fannie Mae MSR Financing</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_UncommittedFacilitiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Uncommitted Facilities [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_UncommittedFacilitiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Uncommitted Facilities [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_RecognitionOfLoansHeldForInvestmentResultingFromInitialConsolidationOfVariableInterestEntities_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Recognition Of Loans Held For Investment Resulting From Initial Consolidation Of Variable Interest Entities</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_RecognitionOfLoansHeldForInvestmentResultingFromInitialConsolidationOfVariableInterestEntities_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Recognition of loans held for investment resulting from initial consolidation of variable interest entities.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_RecognitionOfLoansHeldForInvestmentResultingFromInitialConsolidationOfVariableInterestEntities_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Recognition of loans held for investment resulting from initial consolidation of variable interest entities</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_DebtInstrumentFaceAmount_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Aggregate loan amount</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_DebtInstrumentFaceAmount_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Notes Issued</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_DebtInstrumentFaceAmount_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Debt Instrument, Face Amount</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ScheduleOfInvestmentInMortgageBackedSecuritiesTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Schedule Of Investment In Mortgage Backed Securities Table [Text Block]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ScheduleOfInvestmentInMortgageBackedSecuritiesTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Schedule of investment in mortgage backed securities.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ScheduleOfInvestmentInMortgageBackedSecuritiesTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Schedule of Investments in Mortgage Backed Securities</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FairValueUnpaidPrincipalBalanceOfUnderlyingLoans_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Fair Value Unpaid Principal Balance Of Underlying Loans</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FairValueUnpaidPrincipalBalanceOfUnderlyingLoans_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Represents unpaid principal balance of loans underlying ESS.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FairValueUnpaidPrincipalBalanceOfUnderlyingLoans_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Fair value, Unpaid principal balance of underlying loans</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_CarryingValueOfCreditRiskTransferStripsLiabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Credit risk transfer strip liabilities</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_CarryingValueOfCreditRiskTransferStripsLiabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Carrying Value Of Credit Risk Transfer Strips Liabilities</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_CarryingValueOfCreditRiskTransferStripsLiabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Carrying value of credit risk transfer strips liabilities.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Line of credit, maximum borrowing capacity</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Line of Credit Facility, Maximum Borrowing Capacity</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_VariableInterestEntityNotPrimaryBeneficiaryMember_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Variable Interest Entity, Not Primary Beneficiary [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_VariableInterestEntityNotPrimaryBeneficiaryMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Variable Interest Entity, Not Primary Beneficiary [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FairValueInputsAnnualPrepaymentSpeed_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Estimated fair value inputs, Prepayment speed</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FairValueInputsAnnualPrepaymentSpeed_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Fair Value Inputs Annual Prepayment Speed</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FairValueInputsAnnualPrepaymentSpeed_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Fair value inputs, annual total prepayment speed.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FairValueInputsAnnualPrepaymentSpeed_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Fair value inputs, Prepayment speed</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisChangeInUnrealizedGainLoss_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Fair Value, Liability, Recurring Basis, Still Held, Unrealized Gain (Loss)</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisChangeInUnrealizedGainLoss_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Change in fair value recognized during the quarter relating to liability</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_GuaranteeObligationsRecourseProvisionUnpaidPrincipalBalanceOfMortgageLoansSubjectToRepresentationsAndWarranties_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">UPB of loans subject to representations and warranties at end of quarter</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_GuaranteeObligationsRecourseProvisionUnpaidPrincipalBalanceOfMortgageLoansSubjectToRepresentationsAndWarranties_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Guarantee Obligations Recourse Provision Unpaid Principal Balance Of Mortgage Loans Subject To Representations And Warranties</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_GuaranteeObligationsRecourseProvisionUnpaidPrincipalBalanceOfMortgageLoansSubjectToRepresentationsAndWarranties_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Unpaid principal balance of mortgage loans subject to representations and warranties made by the company at period-end.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="srt_RepurchaseAgreementCounterpartyNameDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Counterparty Name</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="srt_RepurchaseAgreementCounterpartyNameDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Counterparty Name [Domain]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_Maturity30To90DaysMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Over 30 to 90 days [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_Maturity30To90DaysMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Maturity 30 to 90 Days [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_InterestExpenseMortgageLoanParticipationPurchaseAndSaleAgreement_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Mortgage loan participation purchase and sale agreements</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_InterestExpenseMortgageLoanParticipationPurchaseAndSaleAgreement_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Interest Expense Mortgage Loan Participation Purchase And Sale Agreement</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_InterestExpenseMortgageLoanParticipationPurchaseAndSaleAgreement_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Represents the interest expense related to mortgage loans participation purchase and sale agreement.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_SeniorNotesDueTwoThousandThirtyMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Senior Notes Due Two Thousand Thirty [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_SeniorNotesDueTwoThousandThirtyMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Senior notes due two thousand thirty.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_SeniorNotesDueTwoThousandThirtyMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">9.00% Senior Notes Due 2030 [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FairValueInputsAndSensitivityAnalysisOfFairValueAdverseChangeInAssumptionsAtPeriodEndTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Quantitative Summary of Key Assumptions Used in Valuation of MSRs as of Dates Presented, and Effect on Estimated Fair Value from Adverse Changes in Those Inputs</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FairValueInputsAndSensitivityAnalysisOfFairValueAdverseChangeInAssumptionsAtPeriodEndTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Fair Value Inputs And Sensitivity Analysis Of Fair Value Adverse Change In Assumptions At Period End Table [Text Block]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FairValueInputsAndSensitivityAnalysisOfFairValueAdverseChangeInAssumptionsAtPeriodEndTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Fair Value Inputs And Sensitivity Analysis Of Fair Value Adverse Change In Assumptions At Period End [Table Text Block]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_RelatedPartyBaseManagementFeeAsPercentageOfStockHoldersEquity_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Base management fee annual rate</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_RelatedPartyBaseManagementFeeAsPercentageOfStockHoldersEquity_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Related Party Base Management Fee As Percentage Of Stock Holders Equity</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_RelatedPartyBaseManagementFeeAsPercentageOfStockHoldersEquity_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Represents the base management fee rate based on shareholders' equity as defined that existed before February 1, 2013.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_SegmentReportingInformationLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Segment Reporting Information [Line Items]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_SegmentReportingInformationLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Segment Reporting Information [Line Items]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_DepositsSecuringCreditRiskTransferArrangementsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Deposits Securing Credit Risk Transfer Arrangements [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_DepositsSecuringCreditRiskTransferArrangementsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Deposits securing credit risk transfer arrangements [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_DepositsSecuringCreditRiskTransferArrangementsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Deposits securing credit risk transfer arrangements.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_BankOfAmericaNaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Bank of America, N.A. [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_BankOfAmericaNaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Bank of America, N.A. [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_BankOfAmericaNaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Bank Of America Na [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_BankOfAmericaNaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Bank Of America Na [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_DisclosureOfCreditDerivativesTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure of Credit Derivatives [Table Text Block]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_DisclosureOfCreditDerivativesTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Summary of Derivative and Credit Risk Transfer Strip Assets and Liabilities</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MarchFiveTwentyTwentyOneMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">March Five Twenty Twenty One [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MarchFiveTwentyTwentyOneMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">March five twenty twenty one.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MarchFiveTwentyTwentyOneMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">March 5, 2021 [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_DerivativeFairValueOfDerivativeLiability_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Derivative liabilities</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_DerivativeFairValueOfDerivativeLiability_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Total derivative liabilities</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_DerivativeFairValueOfDerivativeLiability_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Derivative Liability, Subject to Master Netting Arrangement, before Offset</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageServicingRightsPledgedToCreditors_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Mortgage servicing rights pledged to creditors</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageServicingRightsPledgedToCreditors_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Mortgage Servicing Rights Pledged To Creditors</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageServicingRightsPledgedToCreditors_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Mortgage servicing rights pledged to creditors.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_CreditRiskTransferStripsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Credit Risk Transfer Strips [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_CreditRiskTransferStripsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Credit Risk Transfer Strips [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_CreditRiskTransferStripsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Credit risk transfer strips.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ManagementAgreementExpirationDate_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Management Agreement Expiration Date</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ManagementAgreementExpirationDate_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Management agreement expiration date.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ManagementAgreementExpirationDate_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Management agreement expiration date</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FairValueAssetsGainsLossesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Assets, Total [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FairValueAssetsGainsLossesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Fair Value Assets Gains Losses [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FairValueAssetsGainsLossesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Fair Value Assets Gains Losses [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageBackedSecurityYieldAverageNumberOfYear_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">MBS yield, average number of year</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageBackedSecurityYieldAverageNumberOfYear_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Mortgage Backed Security Yield Average Number Of Year</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageBackedSecurityYieldAverageNumberOfYear_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Mortgage-backed security yield average number of year.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_OperatingCashFlowsDirectMethodAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Operating Cash Flows, Direct Method [Abstract]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_DelinquentAmountInCOVID19PandemicRelatedForbearanceAtEndOfPeriodOnLoansManagedAndSecuritizedNinetyDaysOrMore_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">90 days or more</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_DelinquentAmountInCOVID19PandemicRelatedForbearanceAtEndOfPeriodOnLoansManagedAndSecuritizedNinetyDaysOrMore_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Delinquent Amount In C O V I D19 Pandemic Related Forbearance At End Of Period On Loans Managed And Securitized Ninety Days Or More</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_DelinquentAmountInCOVID19PandemicRelatedForbearanceAtEndOfPeriodOnLoansManagedAndSecuritizedNinetyDaysOrMore_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Delinquent amount in COVID-19 pandemic related forbearance at end of period on loans managed and securitized ninety days or more.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Stock Issued During Period, Value, Restricted Stock Award, Net of Forfeitures, Total</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Share-based compensation, Amount</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Stock Issued During Period, Value, Restricted Stock Award, Net of Forfeitures</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_CumulativeDividendsFromMarchFifteenTwoThousandTwentyFourAndThereafterMember_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">March 15, 2024 and Thereafter [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_CumulativeDividendsFromMarchFifteenTwoThousandTwentyFourAndThereafterMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Cumulative Dividends From March Fifteen Two Thousand Twenty Four And Thereafter [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_CumulativeDividendsFromMarchFifteenTwoThousandTwentyFourAndThereafterMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Cumulative Dividends From March Fifteen Two Thousand Twenty Four And Thereafter.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_TransferOfMortgageServicingRightsRelatingToDelinquentLoansToAgency_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Mortgage servicing rights relating to delinquent loans to Agency</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_TransferOfMortgageServicingRightsRelatingToDelinquentLoansToAgency_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Transfer of mortgage servicing rights relating to delinquent loans to Agency</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_TransferOfMortgageServicingRightsRelatingToDelinquentLoansToAgency_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Transfer Of Mortgage Servicing Rights Relating To Delinquent Loans To Agency</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_TransferOfMortgageServicingRightsRelatingToDelinquentLoansToAgency_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Transfer of mortgage servicing rights relating to delinquent loans to agency.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_DelinquentAmountInCOVID19PandemicRelatedForbearanceAtEndOfPeriodOnLoansManagedAndSecuritizedNinetyToOneHundredAndEightyDays_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">90-180 days delinquent</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_DelinquentAmountInCOVID19PandemicRelatedForbearanceAtEndOfPeriodOnLoansManagedAndSecuritizedNinetyToOneHundredAndEightyDays_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Delinquent Amount In C O V I D19 Pandemic Related Forbearance At End Of Period On Loans Managed And Securitized Ninety To One Hundred And Eighty Days</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_DelinquentAmountInCOVID19PandemicRelatedForbearanceAtEndOfPeriodOnLoansManagedAndSecuritizedNinetyToOneHundredAndEightyDays_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Delinquent amount in COVID19 pandemic related forbearance at end of period on loans managed and securitized ninety to one hundred and eighty days.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations, Total</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations_lbl" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel">Cash at beginning of quarter</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations_lbl" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel">Cash at end of quarter</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Cash, Cash Equivalent, Restricted Cash, and Restricted Cash Equivalent, Including Discontinued Operation</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_RetainedEarningsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Accumulated Deficit [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_RetainedEarningsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Retained Earnings [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MeasurementInputServicingFeeMultipleMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Servicing Fee Multiple [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MeasurementInputServicingFeeMultipleMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Measurement Input Servicing Fee Multiple [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MeasurementInputServicingFeeMultipleMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Measurement input servicing fee multiple.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ShareBasedCompensation_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Share-Based Payment Arrangement, Noncash Expense, Total</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ShareBasedCompensation_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Compensation expense relating to share-based grants</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ShareBasedCompensation_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Share-based compensation expense</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ShareBasedCompensation_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Share-Based Payment Arrangement, Noncash Expense</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_PaymentsOfStockIssuanceCosts_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Transaction fees</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_PaymentsOfStockIssuanceCosts_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Payments of Stock Issuance Costs</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ProvisionsForRepresentationsAndWarrantiesLosses_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Pursuant to loan sales</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ProvisionsForRepresentationsAndWarrantiesLosses_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Provisions For Representations And Warranties Losses</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ProvisionsForRepresentationsAndWarrantiesLosses_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Provisions for representations and warranties losses recognized during the period.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ProvisionsForRepresentationsAndWarrantiesLosses_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Pursuant to loan sales</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoansInDistressedMortgageLoanPortfolioAtFairValueMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Distressed at Fair Value [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoansInDistressedMortgageLoanPortfolioAtFairValueMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Mortgage Loans In Distressed Mortgage Loan Portfolio At Fair Value [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoansInDistressedMortgageLoanPortfolioAtFairValueMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Mortgage Loans In Distressed Mortgage Loan Portfolio At Fair Value [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_SummaryOfLoansAndAdvancesTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Summary of Transfer Cash to Fund Loan Servicing Advances</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_SummaryOfLoansAndAdvancesTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Summary Of Loans And Advances Table [Text Block]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_SummaryOfLoansAndAdvancesTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Summary of loans and advances.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_FairValueOptionLoansHeldAsAssetsAggregateDifferenceAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Loans, difference, [Abstract]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_FairValueOptionLoansHeldAsAssetsAggregateDifferenceAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Fair Value, Option, Loans Held as Assets, Aggregate Difference [Abstract]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_FairValueInputsLevel1Member_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Level 1 [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_FairValueInputsLevel1Member_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Fair Value, Inputs, Level 1 [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ClassOfStockLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Class Of Stock [Line Items]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ClassOfStockLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Class of Stock [Line Items]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivities_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Cash Provided by (Used in) Financing Activity, Including Discontinued Operation</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivities_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Net cash provided by financing activities</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_NotesPayable_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Balance</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_NotesPayable_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Notes payable secured by credit risk transfer and mortgage servicing assets</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_NotesPayable_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Notes Payable</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_NotesPayable_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Assets Sold Under Agreements to Repurchase and Notes payable secured by credit risk transfer and mortgag servicing assets</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ShortTermDebtLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Short Term Debt [Line Items]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ShortTermDebtLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Short-Term Debt [Line Items]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_FairValueAssetsMeasuredOnRecurringBasisChangeInUnrealizedGainLoss_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss)</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_FairValueAssetsMeasuredOnRecurringBasisChangeInUnrealizedGainLoss_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Changes in fair value recognized during the quarter relating to assets</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_UnamortizedDebtIssuanceExpense_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Unamortized debt issuance costs</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_UnamortizedDebtIssuanceExpense_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Unamortized Debt Issuance Expense</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ManagementFeePayable_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Management fees</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ManagementFeePayable_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Management Fee Payable</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_SecuredDebtMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Secured Debt</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_SecuredDebtMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Secured Debt [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_SummaryOfFinancingTransactionsWithAffiliateTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Summary of Financing Activities</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_SummaryOfFinancingTransactionsWithAffiliateTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Summary Of Financing Transactions With Affiliate Table [Text Block]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_SummaryOfFinancingTransactionsWithAffiliateTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Summary Of Financing Transactions With Affiliate [Table Text Block]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_OnePointFivePercentOfStockholdersEquityMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">1.5% per annum of stockholders equity [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_OnePointFivePercentOfStockholdersEquityMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">One Point Five Percent Of Stockholders Equity [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_OnePointFivePercentOfStockholdersEquityMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Represents the annualized rate at which the base portion of the management fee is calculated for shareholders' equity amounts below $2 billion.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_DebtInstrumentUnpaidPrincipalBalance_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Unpaid principal balance</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_DebtInstrumentUnpaidPrincipalBalance_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Debt Instrument Unpaid Principal Balance</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_DebtInstrumentUnpaidPrincipalBalance_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Debt instrument unpaid principal balance.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_DebtInstrumentUnpaidPrincipalBalance_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Principal amount</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageBackedSecuritiesCallOptionsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">MBS Call Options [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageBackedSecuritiesCallOptionsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Mortgage Backed Securities Call Options [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageBackedSecuritiesCallOptionsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Mortgage backed securities call options.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_DerivativeContractTypeDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Derivative Contract</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_DerivativeContractTypeDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Derivative Contract [Domain]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_VariableAnnuityMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Floating Rate [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_VariableAnnuityMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Variable Annuity [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FairValueInputEffectOnValueOfPercentageAdverseChange_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Effect on value of percentage adverse change, Fair value input</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FairValueInputEffectOnValueOfPercentageAdverseChange_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Fair Value Input Effect On Value Of Percentage Adverse Change</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FairValueInputEffectOnValueOfPercentageAdverseChange_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Effect on fair value of MSRs carried at fair value of a specified adverse change in the value of an input.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MaximumAggregateOfferingPrice_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Maximum aggregate offering price</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MaximumAggregateOfferingPrice_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Maximum Aggregate Offering Price</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MaximumAggregateOfferingPrice_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Maximum Aggregate Offering Price</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_SummaryOfInvestmentInSubordinateMortgageBackedSecuritiesTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Summary Of Investment In Subordinate Mortgage Backed Securities Table [Text Block]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_SummaryOfInvestmentInSubordinateMortgageBackedSecuritiesTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Summary of investment in subordinate mortgage backed securities.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_SummaryOfInvestmentInSubordinateMortgageBackedSecuritiesTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Summary of Investment in Senior and Subordinate MBS Backed by Assets Held in Consolidated VIEs</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ContinuingInvolvementWithTransferredFinancialAssetsPrincipalAmountOutstanding_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Continuing Involvement with Transferred Financial Assets, Principal Amount Outstanding</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ContinuingInvolvementWithTransferredFinancialAssetsPrincipalAmountOutstanding_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Unpaid principal balance of loans outstanding</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoansAtFairValueDisclosureTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Mortgage Loans At Fair Value Disclosure [Text Block]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoansAtFairValueDisclosureTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">This element represents the fair value disclosures of non-correspondent lending loans, their further classification by types and the geographical segregation of loans considering their origination.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoansAtFairValueDisclosureTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Loans Held for Investment at Fair Value</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Summary of Potentially Dilutive Shares Excluded from Computation of Diluted Earnings Per Share</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ProceedsFromRepurchaseOfMortgageLoansSubjectToRepresentationAndWarranties_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Proceeds From Repurchase Of Mortgage Loans Subject To Representation And Warranties</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ProceedsFromRepurchaseOfMortgageLoansSubjectToRepresentationAndWarranties_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Cash outflow and inflow to repurchase mortgage loans previously sold and which are being repurchased due to a breach of the Company's breach of a representation or warranty under which the loan was sold.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ProceedsFromRepurchaseOfMortgageLoansSubjectToRepresentationAndWarranties_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Repurchase of loans subject to representations and warranties</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_EntityInteractiveDataCurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Entity Interactive Data Current</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_EntityInteractiveDataCurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Entity Interactive Data Current</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_InterestExpenseOnMortgageLoansServicedForAgencySecuritizations_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Interest shortfall on repayments of loans serviced for Agency securitizations</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_InterestExpenseOnMortgageLoansServicedForAgencySecuritizations_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Interest Expense On Mortgage Loans Serviced For Agency Securitizations</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_InterestExpenseOnMortgageLoansServicedForAgencySecuritizations_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Represents interest incurred relating to mortgage-backed securities secured by mortgage loans in the company's loan servicing portfolio whereby the underlying loans prepaid during the period and the company as servicer of the mortgage-backed security is obligated to pass through the interest for the entire month and the borrower is only required to pay interest through the date of payoff during the month.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_TwentyTwentyMBSAgreementRenewedAndAmendedMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Twenty Twenty M B S Agreement Renewed and Amended [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_TwentyTwentyMBSAgreementRenewedAndAmendedMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Twenty twenty M B S agreement renewed and amended.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_TwentyTwentyMBSAgreementRenewedAndAmendedMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">2020 MBS Agreement Renewed and Amended [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_PaymentsForAdvanceToAffiliate_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Payments for Advance to Affiliate</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_PaymentsForAdvanceToAffiliate_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Payments and settlements during the quarter</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_PaymentsForAdvanceToAffiliate_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Payments and settlements during the period</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="srt_MortgageLoansOnRealEstateAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Abstract]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_IncomeStatementLocationDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Income Statement Location</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_IncomeStatementLocationDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Statement of Income Location, Balance [Domain]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisCapitalizationOfInterestAndFees_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Capitalization of interest and fees</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisCapitalizationOfInterestAndFees_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Capitalization Of Interest And Fees</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisCapitalizationOfInterestAndFees_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Fair value measurement with unobservable inputs reconciliation recurring basis capitalization of interest and fees.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_FairValueDisclosureItemAmountsDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Fair Value Measurement [Domain]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Cash flows from operating activities</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Cash Provided by (Used in) Operating Activity, Including Discontinued Operation [Abstract]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageBackedSecuritiesLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Mortgage Backed Securities [Line Items]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageBackedSecuritiesLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Mortgage Backed Securities [Line Items]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageBackedSecuritiesLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Mortgage backed securities.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_RepurchaseAgreementsWeightedAverageMaturityPeriod_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Weighted average maturity (in months)</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_RepurchaseAgreementsWeightedAverageMaturityPeriod_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Repurchase Agreements Weighted Average Maturity Period</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_RepurchaseAgreementsWeightedAverageMaturityPeriod_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Repurchase Agreements Weighted Average Maturity Period</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_AccretionAmortizationOfDiscountsAndPremiumsInvestments_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Accretion (Amortization) of Discounts and Premiums, Investments</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_AccretionAmortizationOfDiscountsAndPremiumsInvestments_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Accrual of unearned discounts and amortization of purchase premiums on mortgage-backed securities, loans held for investment, and asset-backed financings, net</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="srt_CumulativeEffectPeriodOfAdoptionAdjustedBalanceMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Cumulative Effect, Period of Adoption, Adjusted Balance [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="srt_CumulativeEffectPeriodOfAdoptionAdjustedBalanceMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Cumulative Effect, Period of Adoption, Adjusted Balance [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FundedUnderCommittedFacilitiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">CommittedFacilitiesMember</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FundedUnderCommittedFacilitiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Funded Under Committed Facilities [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FundedUnderCommittedFacilitiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Funded Under Committed Facilities [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FundedUnderCommittedFacilitiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Funded under committed facilities.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_InvestmentPropertiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Investment Properties [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_InvestmentPropertiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Investment Properties [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_InvestmentPropertiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Investment properties.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_UnpaidBalanceOfMortgageLoansSubjectToCreditGuaranteeOnCreditRiskTransferAgreementsDelinquentBankruptcy_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Bankruptcy</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_UnpaidBalanceOfMortgageLoansSubjectToCreditGuaranteeOnCreditRiskTransferAgreementsDelinquentBankruptcy_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Unpaid Balance Of Mortgage Loans Subject To Credit Guarantee On Credit Risk Transfer Agreements Delinquent Bankruptcy</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_UnpaidBalanceOfMortgageLoansSubjectToCreditGuaranteeOnCreditRiskTransferAgreementsDelinquentBankruptcy_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Unpaid balance of mortgage loans subject to credit guarantee on credit risk transfer agreements delinquent bankruptcy.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_DepositsSecuringCreditRiskTransferArrangements_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Deposits Securing Credit Risk Transfer Arrangements</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_DepositsSecuringCreditRiskTransferArrangements_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Represents cash deposited to secure the company's obligation under credit risk transfer arrangements.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_DepositsSecuringCreditRiskTransferArrangements_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Deposits securing credit risk transfer arrangements</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInEarnings_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Gain (Loss) Included in Earnings</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInEarnings_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Change in instrument-specific credit risk\Other factors</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ChangeInFairValueRelatingToMortgageLoansStillHeldAtPeriodEnd_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Loans</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ChangeInFairValueRelatingToMortgageLoansStillHeldAtPeriodEnd_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Change In Fair Value Relating To Mortgage Loans Still Held At Period End</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ChangeInFairValueRelatingToMortgageLoansStillHeldAtPeriodEnd_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Represents the change in fair value of mortgage loans still held at period end.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ScheduleOfMortgageAggregationActivityAffiliateTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Schedule of mortgage aggregation activity affiliate [Table Text Block]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ScheduleOfMortgageAggregationActivityAffiliateTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Schedule of mortgage aggregation activity affiliate.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ScheduleOfMortgageAggregationActivityAffiliateTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Summary of Mortgage Aggregation Activity and Other Loan Purchases</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ReimbursementOfExpensesToAffiliateNet_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Expenses incurred on the Company&#8217;s behalf, net</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ReimbursementOfExpensesToAffiliateNet_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Reimbursement Of Expenses To Affiliate Net</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ReimbursementOfExpensesToAffiliateNet_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Reimbursement of expenses to affiliate net.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_CommonStockDividendsPerShareDeclared_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Dividends declared per common share</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_CommonStockDividendsPerShareDeclared_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Common Stock, Dividends, Per Share, Declared</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="srt_CumulativeEffectPeriodOfAdoptionDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Cumulative Effect, Period of Adoption</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="srt_CumulativeEffectPeriodOfAdoptionDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Cumulative Effect, Period of Adoption [Domain]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_TwoThousandTwentyThreeSeniorNotesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">2023 Senior Notes.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_TwoThousandTwentyThreeSeniorNotesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Two Thousand Twenty Three Senior Notes [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_TwoThousandTwentyThreeSeniorNotesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">2023 Senior Notes [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_EntityTaxIdentificationNumber_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Entity Tax Identification Number</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_EntityTaxIdentificationNumber_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Entity Tax Identification Number</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_AssetsSoldUnderAgreementsToRepurchaseMaturityPeriodDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Repurchase Agreements and Similar Transactions, Maturity Periods</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_AssetsSoldUnderAgreementsToRepurchaseMaturityPeriodDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Repurchase Agreements and Similar Transactions, Maturity Periods [Domain]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ScheduleOfCreditRiskTransferAgreementsTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Summary of Credit Risk Transfer Agreements</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ScheduleOfCreditRiskTransferAgreementsTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Schedule Of Credit Risk Transfer Agreements Table [Text Block]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ScheduleOfCreditRiskTransferAgreementsTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Schedule of Credit Risk Transfer Agreements [Table Text Block]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_UnpaidBalanceOfMortgageLoansSubjectToCreditGuaranteeOnCreditRiskTransferAgreementsDelinquentForeclosure_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Foreclosure</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_UnpaidBalanceOfMortgageLoansSubjectToCreditGuaranteeOnCreditRiskTransferAgreementsDelinquentForeclosure_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Unpaid Balance Of Mortgage Loans Subject To Credit Guarantee On Credit Risk Transfer Agreements Delinquent Foreclosure</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_UnpaidBalanceOfMortgageLoansSubjectToCreditGuaranteeOnCreditRiskTransferAgreementsDelinquentForeclosure_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Unpaid balance of mortgage loans subject to credit guarantee on credit risk transfer agreements delinquent foreclosure.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_RepaymentsOfNotesPayable_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Repayment of notes payable secured by credit risk transfer and mortgage servicing assets</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_RepaymentsOfNotesPayable_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Repayments of Notes Payable</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_EffectOnValueOfTenPercentageAdverseChangeMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Effect On Value Of Ten Percentage Adverse Change</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_EffectOnValueOfTenPercentageAdverseChangeMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Effect On Value Of Ten Percentage Adverse Change [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_EffectOnValueOfTenPercentageAdverseChangeMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Effect on value of 10% adverse change.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_LongtermDebtTypeAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Long-term Debt, Type</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_LongtermDebtTypeAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Long-Term Debt, Type [Axis]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ShortTermBorrowingsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Brokers and Dealers [Abstract]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ShortTermBorrowingsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Short-Term Debt [Abstract]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_TangibleCapitalRequiredForCapitalAdequacyToTangibleAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Tangible net worth / total assets ratio, Required</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_TangibleCapitalRequiredForCapitalAdequacyToTangibleAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Banking Regulation, Tangible Capital Ratio, Capital Adequacy, Minimum</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_GainLossOnSalesOfMortgageBackedSecuritiesMBS_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Gain (Loss) on Sales of Mortgage-Backed Securities (MBS)</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_GainLossOnSalesOfMortgageBackedSecuritiesMBS_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Mortgage-backed securities</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ChangeInFairValueOfMortgageServicingRights_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Change in fair value of mortgage servicing rights</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ChangeInFairValueOfMortgageServicingRights_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Change In Fair Value Of Mortgage Servicing Rights</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ChangeInFairValueOfMortgageServicingRights_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Change In Fair Value Of Mortgage Servicing Rights</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Organization</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_OffsettingLiabilitiesTable_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Offsetting Liabilities [Table]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_OffsettingLiabilitiesTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Offsetting Liabilities [Table]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInEarnings1_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Total</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInEarnings1_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoanParticipationPurchaseAndSaleAgreementTable_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Mortgage Loan Participation Purchase And Sale Agreement [Table]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoanParticipationPurchaseAndSaleAgreementTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Mortgage Loan Participation Purchase And Sale Agreement [Table]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoanParticipationPurchaseAndSaleAgreementTable_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Mortgage loan participation purchase and sale agreement.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_HedgingGainsAndLossesOnMortgageServicingAssetsNet_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Mortgage servicing rights hedging results</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_HedgingGainsAndLossesOnMortgageServicingAssetsNet_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Hedging Gains And Losses On Mortgage Servicing Assets Net</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_HedgingGainsAndLossesOnMortgageServicingAssetsNet_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Hedging Gains And Losses On Mortgage Servicing Assets Net.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_LocalPhoneNumber_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Local Phone Number</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_LocalPhoneNumber_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Local Phone Number</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_SecuritiesSoldUnderAgreementsAvailableBorrowingCapacity_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Available borrowing capacity</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_SecuritiesSoldUnderAgreementsAvailableBorrowingCapacity_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Securities Sold Under Agreements Available Borrowing Capacity</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_SecuritiesSoldUnderAgreementsAvailableBorrowingCapacity_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Securities Sold Under Agreements Available Borrowing Capacity</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MarginDepositAssetsLiabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Margin deposits received from derivative counterparties, net</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MarginDepositAssetsLiabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Margin Deposit Assets Liabilities</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MarginDepositAssetsLiabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Margin deposit assets liabilities.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MarginDepositAssetsLiabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Margin deposits (received from) placed with derivative counterparties included in derivative balances above, net</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_CreditRiskTransferStripsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Credit Risk Transfer Strips [Abstract]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_CreditRiskTransferStripsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Credit risk transfer strips.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_CreditRiskTransferStripsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Credit risk transfer strips</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_AverageBalanceDuringPeriodForLoansAcquiredForSale_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Average investment in loans acquired for sale at fair value</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_AverageBalanceDuringPeriodForLoansAcquiredForSale_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Average Balance During Period For Loans Acquired For Sale</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_AverageBalanceDuringPeriodForLoansAcquiredForSale_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Average balance during period for loans acquired for sale.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_AverageBalanceDuringPeriodForLoansAcquiredForSale_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Average investment in loans acquired for sale</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_RelatedPartyTransactionDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Related Party Transaction [Domain]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_InterestIncomeOnMortgageLoansSubjectToPlacementFeesRelatingToCustodialFunds_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Placement fees relating to custodial funds</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_InterestIncomeOnMortgageLoansSubjectToPlacementFeesRelatingToCustodialFunds_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Interest Income On Mortgage Loans Subject To Placement Fees Relating To Custodial Funds</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_InterestIncomeOnMortgageLoansSubjectToPlacementFeesRelatingToCustodialFunds_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Interest income on mortgage loans subject to placement fees relating to custodial funds.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_RecaptureRate_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Recapture rate</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_RecaptureRate_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Recapture Rate</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_RecaptureRate_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Recapture rate .</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_InterestIncomeAndInterestExpenseDisclosureTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Net Interest Expense</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_InterestIncomeAndInterestExpenseDisclosureTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Interest Income and Interest Expense Disclosure [Text Block]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Weighted average common shares outstanding</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Weighted Average Number of Shares Outstanding, Diluted [Abstract]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodGrantDateFairValue_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Total grant date value of share units</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodGrantDateFairValue_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Grant Date Fair Value</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodGrantDateFairValue_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">The weighted average fair value at grant date for nonvested restricted share units issued during the period.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_TwoThousandTwentySixExchangeableNotesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">2026 Exchangeable Notes [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_TwoThousandTwentySixExchangeableNotesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Two Thousand Twenty Six Exchangeable Notes [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_TwoThousandTwentySixExchangeableNotesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">2026 Exchangeable Notes.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_RepresentationsAndWarrantiesRecoveriesLossesNet_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Losses incurred</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_RepresentationsAndWarrantiesRecoveriesLossesNet_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Representations and warranties recoveries (losses),net.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_RepresentationsAndWarrantiesRecoveriesLossesNet_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Representations And Warranties Recoveries Losses Net</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_RepresentationsAndWarrantiesRecoveriesLossesNet_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Losses incurred, net</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_DerivativeAssetSecuritiesPurchasedUnderAgreementsToResellSecuritiesBorrowedLiability_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Financial instruments</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_DerivativeAssetSecuritiesPurchasedUnderAgreementsToResellSecuritiesBorrowedLiability_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Derivative Asset, Security Purchased under Agreement to Resell, and Security Borrowed, Subject to Master Netting Arrangement, Liability Offset</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_PercentageOfDeductionFromTaxableIncomeForOrdinaryREITDividends_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Percentage of deduction from taxable income</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_PercentageOfDeductionFromTaxableIncomeForOrdinaryREITDividends_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Percentage Of Deduction From Taxable Income For Ordinary R E I T Dividends</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_PercentageOfDeductionFromTaxableIncomeForOrdinaryREITDividends_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Percentage of deduction from taxable income for ordinary REIT dividends.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ScheduleOfFinancingReceivableRecordedInvestmentCreditQualityIndicatorTable_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Schedule Of Financing Receivable Recorded Investment Credit Quality Indicator [Table]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ScheduleOfFinancingReceivableRecordedInvestmentCreditQualityIndicatorTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Financing Receivable, Credit Quality Indicator [Table]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoanParticipationPurchaseAndSaleAgreementLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Mortgage Loan Participation Purchase And Sale Agreement [Line Items]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoanParticipationPurchaseAndSaleAgreementLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Mortgage Loan Participation Purchase And Sale Agreement [Line Items]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_MortgageLoanParticipationPurchaseAndSaleAgreementLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Mortgage loan participation purchase and sale agreement.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_AccountingPoliciesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Accounting Policies [Abstract]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ExchangeRate_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Exchange Rate</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ExchangeRate_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Exchange rate.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ExchangeRate_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Exchange rates</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ScheduleOfDerivativeAndFinancialAssetsBySignificantCounterpartyNotOffsetTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Summary of Derivative Assets, Financial Instruments and Collateral Held by Counterparty</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ScheduleOfDerivativeAndFinancialAssetsBySignificantCounterpartyNotOffsetTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Schedule Of Derivative And Financial Assets By Significant Counterparty Not Offset Table [Text Block]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ScheduleOfDerivativeAndFinancialAssetsBySignificantCounterpartyNotOffsetTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Represents summary by counterparty of derivative asset positions.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="srt_ScenarioPreviouslyReportedMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Previously Reported [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="srt_ScenarioPreviouslyReportedMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Previously Reported [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_OffsettingLiabilitiesLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Offsetting Liabilities [Line Items]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_OffsettingLiabilitiesLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Offsetting Liabilities [Line Items]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="srt_BrokersAndDealersAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Broker-Dealer [Abstract]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_JPMorganSecuritiesLLCMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">J.P. Morgan Securities LLC [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_JPMorganSecuritiesLLCMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">J P Morgan Securities L L C [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_JPMorganSecuritiesLLCMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">J.P. Morgan Securities LLC.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ClassOfStockDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Class of Stock</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ClassOfStockDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Class of Stock [Domain]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ConversionRate_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Conversion Rate</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ConversionRate_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Conversion rate.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ConversionRate_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Conversion rates</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_SaleOfStockTransactionDate_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Sale of Stock, Transaction Date</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_SaleOfStockTransactionDate_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Sale of Stock, Transaction Date</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_LaborAndRelatedExpense_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Compensation</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_LaborAndRelatedExpense_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Labor and Related Expense</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_InterestAndFeeIncomeLoanHeld-For-Investment_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Interest and Fee Income, Loan, Held-for-Investment</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_InterestAndFeeIncomeLoanHeld-For-Investment_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Interest and fee income from mortgage loans considered to be held-for-investment.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_InterestAndFeeIncomeLoanHeld-For-Investment_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Loans held for investment</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FairValueInputAnnualPerLoanCostOfServicing_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Fair value input annual per loan cost of servicing.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FairValueInputAnnualPerLoanCostOfServicing_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Fair Value Input Annual Per Loan Cost Of Servicing</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_FairValueInputAnnualPerLoanCostOfServicing_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Estimated fair value inputs, Annual per-loan cost of servicing</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ThirtyMarchTwoThousandTwentyOneMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">March 30, 2021 [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ThirtyMarchTwoThousandTwentyOneMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Thirty March Two Thousand Twenty One [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_ThirtyMarchTwoThousandTwentyOneMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Thirty march two thousand twenty one.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ScheduleOfStockByClassTable_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Schedule Of Stock By Class [Table]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="us-gaap_ScheduleOfStockByClassTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Stock, Class of Stock [Table]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_DelinquentAmountInCOVID19PandemicRelatedForbearanceAtEndOfPeriodOnLoansManagedAndSecuritizedThirtyToEightyNineDays_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">30-89 days</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_DelinquentAmountInCOVID19PandemicRelatedForbearanceAtEndOfPeriodOnLoansManagedAndSecuritizedThirtyToEightyNineDays_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Delinquent Amount In C O V I D19 Pandemic Related Forbearance At End Of Period On Loans Managed And Securitized Thirty To Eighty Nine Days</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="pmt_DelinquentAmountInCOVID19PandemicRelatedForbearanceAtEndOfPeriodOnLoansManagedAndSecuritizedThirtyToEightyNineDays_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Delinquent amount in COVID-19 pandemic related forbearance at end of period on loans managed and securitized thirty to eighty nine days.</link:label>
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  <xsd:element id="pmt_NotesPayableSecuredByCreditRiskTransferAndMortgageServicingAssetsMember" name="NotesPayableSecuredByCreditRiskTransferAndMortgageServicingAssetsMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_GovernmentGuaranteedSecuritiesMember" name="GovernmentGuaranteedSecuritiesMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_ServicingAdvancesMember" name="ServicingAdvancesMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_MortgageLoanParticipationPurchaseAndSaleAgreementLineItems" name="MortgageLoanParticipationPurchaseAndSaleAgreementLineItems" type="xbrli:stringItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_OtherTrusteesOrOfficersMember" name="OtherTrusteesOrOfficersMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_ShareBasedCompensationArrangementByShareBasedPaymentAwardOtherThanOptionsVestedAndExpectedToVestAbstract" name="ShareBasedCompensationArrangementByShareBasedPaymentAwardOtherThanOptionsVestedAndExpectedToVestAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_FundedUnderUncommittedFacilitiesMember" name="FundedUnderUncommittedFacilitiesMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_ChangeInFairValueOfMortgageServicingRights" name="ChangeInFairValueOfMortgageServicingRights" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="credit"/>
  <xsd:element id="pmt_ProceedsFromSaleOfMortgageLoansHeldForSaleToAffiliates" name="ProceedsFromSaleOfMortgageLoansHeldForSaleToAffiliates" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="debit"/>
  <xsd:element id="pmt_SeriesABPreferredStockAndCCumulativeRedeemablePreferredStockMember" name="SeriesABPreferredStockAndCCumulativeRedeemablePreferredStockMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_MortgageLoanParticipationAndSaleAgreementInterestExpense" name="MortgageLoanParticipationAndSaleAgreementInterestExpense" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="debit"/>
  <xsd:element id="pmt_SubordinateMortgageBackedSecuritiesMember" name="SubordinateMortgageBackedSecuritiesMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_GainLossOnCreditRiskTransferArrangements" name="GainLossOnCreditRiskTransferArrangements" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="credit"/>
  <xsd:element id="pmt_RealEstateAcquiredInSettlementOfLoansMember" name="RealEstateAcquiredInSettlementOfLoansMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_SummaryOfMortgageServicingRightsTable" name="SummaryOfMortgageServicingRightsTable" type="xbrli:stringItemType" substitutionGroup="xbrldt:hypercubeItem" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_PercentageOfRightToPurchaseNongovernmentInsuredOrGuaranteedLoans" name="PercentageOfRightToPurchaseNongovernmentInsuredOrGuaranteedLoans" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false"/>
  <xsd:element id="pmt_RealizedGainsLossesRecognizedOnCreditRiskTransferStrips" name="RealizedGainsLossesRecognizedOnCreditRiskTransferStrips" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="credit"/>
  <xsd:element id="pmt_BankOfAmericaNaMember" name="BankOfAmericaNaMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_RecaptureRate" name="RecaptureRate" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false"/>
  <xsd:element id="pmt_MortgageLoansAtFairValueSoldUnderAgreementsWeightedAverageMaturity" name="MortgageLoansAtFairValueSoldUnderAgreementsWeightedAverageMaturity" type="xbrli:dateItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false"/>
  <xsd:element id="pmt_ParticipatingMortgageLoansWeightedAverageInterestRate" name="ParticipatingMortgageLoansWeightedAverageInterestRate" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false"/>
  <xsd:element id="pmt_DepositsSecuringCreditRiskTransferArrangementsMember" name="DepositsSecuringCreditRiskTransferArrangementsMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_LoansAtFairValueMember" name="LoansAtFairValueMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_PercentageOfDeductionFromTaxableIncomeForOrdinaryREITDividends" name="PercentageOfDeductionFromTaxableIncomeForOrdinaryREITDividends" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false"/>
  <xsd:element id="pmt_FinancialInstrumentsOwnedMortgagesMortgageBackedAndAssetBackedSecuritiesAmortizationAndAccrualOfNetPurchasePremiumsAndDiscounts" name="FinancialInstrumentsOwnedMortgagesMortgageBackedAndAssetBackedSecuritiesAmortizationAndAccrualOfNetPurchasePremiumsAndDiscounts" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="credit"/>
  <xsd:element id="pmt_SeriesABAndCPreferredStockMember" name="SeriesABAndCPreferredStockMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_ExchangeableSeniorNotesDueTwoThousandAndTwentyFourMember" name="ExchangeableSeniorNotesDueTwoThousandAndTwentyFourMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_NonAgencySeniorSecuritiesMember" name="NonAgencySeniorSecuritiesMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_RecaptureAgreementRenewedAndAmendedAdjustedRecaptureFeeDescription" name="RecaptureAgreementRenewedAndAmendedAdjustedRecaptureFeeDescription" type="xbrli:stringItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false"/>
  <xsd:element id="pmt_ServicingAssetAtFairValueChangesInFairValueAbstract" name="ServicingAssetAtFairValueChangesInFairValueAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_UnsecuredEightPointFiveZeroPercentageSeniorNotesMember" name="UnsecuredEightPointFiveZeroPercentageSeniorNotesMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_ProceedsFromSaleAndRepaymentsOfMortgageBackedSecurities" name="ProceedsFromSaleAndRepaymentsOfMortgageBackedSecurities" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="debit"/>
  <xsd:element id="pmt_CallOptionsOnInterestRateFuturesPurchaseContractsMember" name="CallOptionsOnInterestRateFuturesPurchaseContractsMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_ScheduleOfKeyInputsUsedInDeterminingFairValueOfIoTableTextBlock" name="ScheduleOfKeyInputsUsedInDeterminingFairValueOfIoTableTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false"/>
  <xsd:element id="pmt_AverageMortgageServicingRightsServicingPortfolio" name="AverageMortgageServicingRightsServicingPortfolio" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="credit"/>
  <xsd:element id="pmt_ScheduleOfSharesRepurchaseTableTextBlock" name="ScheduleOfSharesRepurchaseTableTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false"/>
  <xsd:element id="pmt_ReceiptOfMortgageServicingRightsAsProceedsFromSalesOfLoans" name="ReceiptOfMortgageServicingRightsAsProceedsFromSalesOfLoans" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="credit"/>
  <xsd:element id="pmt_InterestExpenseOnMortgageLoanImpoundDeposits" name="InterestExpenseOnMortgageLoanImpoundDeposits" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="debit"/>
  <xsd:element id="pmt_FairValueInputAnnualPerLoanCostOfServicingDuringPeriod" name="FairValueInputAnnualPerLoanCostOfServicingDuringPeriod" type="xbrli:decimalItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false"/>
  <xsd:element id="pmt_MSRAtFairValueServiceFeeAnnualRateAtInitialRecognition" name="MSRAtFairValueServiceFeeAnnualRateAtInitialRecognition" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false"/>
  <xsd:element id="pmt_DebtInstrumentUnpaidPrincipalBalance" name="DebtInstrumentUnpaidPrincipalBalance" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" abstract="false" xbrli:balance="credit"/>
  <xsd:element id="pmt_ScheduleOfMortgageLoanAcquiredForSaleTableTextBlock" name="ScheduleOfMortgageLoanAcquiredForSaleTableTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false"/>
  <xsd:element id="pmt_ExpectedForfeitureRate" name="ExpectedForfeitureRate" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false"/>
  <xsd:element id="pmt_SummaryOfFinancingTransactionsWithAffiliateTableTextBlock" name="SummaryOfFinancingTransactionsWithAffiliateTableTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false"/>
  <xsd:element id="pmt_DelinquentAmountAtEndOfPeriodOnLoansManagedAndSecuritizedNinetyToOneHundredAndEighty" name="DelinquentAmountAtEndOfPeriodOnLoansManagedAndSecuritizedNinetyToOneHundredAndEighty" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" abstract="false" xbrli:balance="debit"/>
  <xsd:element id="pmt_ServicesAgreementExpirationDate" name="ServicesAgreementExpirationDate" type="xbrli:dateItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false"/>
  <xsd:element id="pmt_NetDerivativeRelatedToCreditRiskTransferTransactionsMember" name="NetDerivativeRelatedToCreditRiskTransferTransactionsMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_RelatedPartyBaseManagementFeeAsPercentageOfStockHoldersEquity" name="RelatedPartyBaseManagementFeeAsPercentageOfStockHoldersEquity" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false"/>
  <xsd:element id="pmt_ScheduleOfNetGainLossOnMortgageLoansHeldForSaleTableTextBlock" name="ScheduleOfNetGainLossOnMortgageLoansHeldForSaleTableTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false"/>
  <xsd:element id="pmt_ReportableSegmentMember" name="ReportableSegmentMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_LiquidityRequirementRatioAmount" name="LiquidityRequirementRatioAmount" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" abstract="false"/>
  <xsd:element id="pmt_MortgageLoansOnRealEstateUnpaidBalance" name="MortgageLoansOnRealEstateUnpaidBalance" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" abstract="false" xbrli:balance="debit"/>
  <xsd:element id="pmt_CreditRiskTransferArrangementFinancingMember" name="CreditRiskTransferArrangementFinancingMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_DaiwaCapitalMarketsMember" name="DaiwaCapitalMarketsMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_RealEstateAcquiredThroughForeclosureRemeasuredDuringPeriod" name="RealEstateAcquiredThroughForeclosureRemeasuredDuringPeriod" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" abstract="false" xbrli:balance="debit"/>
  <xsd:element id="pmt_ABCarvalMember" name="ABCarvalMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_NomuraHoldingsAmericaIncMember" name="NomuraHoldingsAmericaIncMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_MortgageLoansHeldForInvestmentHeldByVariableInterestEntityMember" name="MortgageLoansHeldForInvestmentHeldByVariableInterestEntityMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_MortgageServiceRightsAtFairValueMember" name="MortgageServiceRightsAtFairValueMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_ManagementAgreementExpirationDate" name="ManagementAgreementExpirationDate" type="xbrli:dateItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false"/>
  <xsd:element id="pmt_ScheduleOfInvestmentInMortgageBackedSecuritiesTableTextBlock" name="ScheduleOfInvestmentInMortgageBackedSecuritiesTableTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false"/>
  <xsd:element id="pmt_UnamortizedDebtIssuanceCosts" name="UnamortizedDebtIssuanceCosts" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" abstract="false" xbrli:balance="credit"/>
  <xsd:element id="pmt_FinancialInstrumentsOwnedMortgagesMortgageBackedAndAssetBackedSecuritiesChangesInFairValueRecordedInIncome" name="FinancialInstrumentsOwnedMortgagesMortgageBackedAndAssetBackedSecuritiesChangesInFairValueRecordedInIncome" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="credit"/>
  <xsd:element id="pmt_LiquidAssetsForRegulatoryCompliance" name="LiquidAssetsForRegulatoryCompliance" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" abstract="false" xbrli:balance="credit"/>
  <xsd:element id="pmt_MortgageLoansOnRealEstateNumberOfLoansPurchasedMultiplier" name="MortgageLoansOnRealEstateNumberOfLoansPurchasedMultiplier" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="credit"/>
  <xsd:element id="pmt_PaymentsToCreditRiskTransferLosses" name="PaymentsToCreditRiskTransferLosses" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="credit"/>
  <xsd:element id="pmt_JuneTwoThousandTwentyFiveMember" name="JuneTwoThousandTwentyFiveMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_RealEstateAcquiredThroughForeclosureGainsLossesRecognized" name="RealEstateAcquiredThroughForeclosureGainsLossesRecognized" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="credit"/>
  <xsd:element id="pmt_SummaryOfLoansAndAdvancesTableTextBlock" name="SummaryOfLoansAndAdvancesTableTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false"/>
  <xsd:element id="pmt_MortgageLoanOtherServicingFees" name="MortgageLoanOtherServicingFees" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="credit"/>
  <xsd:element id="pmt_TwentyTwentyMSRRecaptureAgreementMember" name="TwentyTwentyMSRRecaptureAgreementMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_AverageBalanceDuringPeriodForLoansHeldInAVIE" name="AverageBalanceDuringPeriodForLoansHeldInAVIE" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="credit"/>
  <xsd:element id="pmt_ChangeInFairValueRelatingToMortgageLoansStillHeldAtPeriodEnd" name="ChangeInFairValueRelatingToMortgageLoansStillHeldAtPeriodEnd" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="credit"/>
  <xsd:element id="pmt_DelinquentAmountInCOVID19PandemicRelatedForbearanceAtEndOfPeriodOnLoansManagedAndSecuritizedNinetyDaysOrMore" name="DelinquentAmountInCOVID19PandemicRelatedForbearanceAtEndOfPeriodOnLoansManagedAndSecuritizedNinetyDaysOrMore" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" abstract="false" xbrli:balance="debit"/>
  <xsd:element id="pmt_LoanOriginationsFees" name="LoanOriginationsFees" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="credit"/>
  <xsd:element id="pmt_EffectOnValueOfTenPercentageAdverseChangeMember" name="EffectOnValueOfTenPercentageAdverseChangeMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_InterestRateLockCommitmentsWithPennymacFinancialServicesIncMember" name="InterestRateLockCommitmentsWithPennymacFinancialServicesIncMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_ServicingAgreementMember" name="ServicingAgreementMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_NetGainsLossesOnInvestmentsAndFinancingsAbstract" name="NetGainsLossesOnInvestmentsAndFinancingsAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_MortgageBackedSecuritiesCallOptionsMember" name="MortgageBackedSecuritiesCallOptionsMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_MortgageServicingRightsRecaptureFromAffiliate" name="MortgageServicingRightsRecaptureFromAffiliate" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="credit"/>
  <xsd:element id="pmt_SummaryOfRecourseLiabilityTableTextBlock" name="SummaryOfRecourseLiabilityTableTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false"/>
  <xsd:element id="pmt_CertificatesRetainedInAssetBackedFinancingsMember" name="CertificatesRetainedInAssetBackedFinancingsMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_EstablishedPercentageOfUnpaidPrincipalBalanceOfMortgageLoansSoldUnderRecourseObligationLosses" name="EstablishedPercentageOfUnpaidPrincipalBalanceOfMortgageLoansSoldUnderRecourseObligationLosses" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false"/>
  <xsd:element id="pmt_LoansAcquiredForSaleMember" name="LoansAcquiredForSaleMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_SeniorNotesOneDueTwoThousandThirtyMember" name="SeniorNotesOneDueTwoThousandThirtyMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_ExcessSpreadInvestmentMember" name="ExcessSpreadInvestmentMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_NetIncomeLossAttributableToCommonStockholders" name="NetIncomeLossAttributableToCommonStockholders" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="credit"/>
  <xsd:element id="pmt_FairValueOptionNonCreditRiskGainsLossesOnAssets" name="FairValueOptionNonCreditRiskGainsLossesOnAssets" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="credit"/>
  <xsd:element id="pmt_TransferOfMortgageServicingRightsRelatingToDelinquentLoansToAgency" name="TransferOfMortgageServicingRightsRelatingToDelinquentLoansToAgency" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="credit"/>
  <xsd:element id="pmt_DerivativeAssetsPledgedToCreditors" name="DerivativeAssetsPledgedToCreditors" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" abstract="false" xbrli:balance="debit"/>
  <xsd:element id="pmt_LoansManagedAndSecuritizedCustodialFundsManaged" name="LoansManagedAndSecuritizedCustodialFundsManaged" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" abstract="false" xbrli:balance="debit"/>
  <xsd:element id="pmt_CitigroupGlobalMarketsIncMember" name="CitigroupGlobalMarketsIncMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_COVID19Member" name="COVID19Member" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_ScheduleOfChangesInFairValueChangesIncludedInCurrentPeriodIncomeTableTextBlock" name="ScheduleOfChangesInFairValueChangesIncludedInCurrentPeriodIncomeTableTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false"/>
  <xsd:element id="pmt_LoanSalesAbstract" name="LoanSalesAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_NetIncomeExceedsFifteenPercentageMember" name="NetIncomeExceedsFifteenPercentageMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_FairValueInputEffectOnValueOfPercentageAdverseChange" name="FairValueInputEffectOnValueOfPercentageAdverseChange" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" abstract="false" xbrli:balance="debit"/>
  <xsd:element id="pmt_AgencyConformingLoansSecuredByOwnerOccupiedPropertiesMember" name="AgencyConformingLoansSecuredByOwnerOccupiedPropertiesMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_FannieCapMarketsMember" name="FannieCapMarketsMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_OtherCounterpartiesMember" name="OtherCounterpartiesMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_CreditRiskTransferStripsAbstract" name="CreditRiskTransferStripsAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_MortgageLoanServicingFeesPayable" name="MortgageLoanServicingFeesPayable" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" abstract="false" xbrli:balance="credit"/>
  <xsd:element id="pmt_CreditRiskTransferDerivativesMember" name="CreditRiskTransferDerivativesMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_FannieMaeOrFreddieMacMortgageLoansMember" name="FannieMaeOrFreddieMacMortgageLoansMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_InterestRateLockCommitmentsAndLoansAcquiredForSaleMember" name="InterestRateLockCommitmentsAndLoansAcquiredForSaleMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_FebruaryTwoThousandTwentyFiveMember" name="FebruaryTwoThousandTwentyFiveMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_FundedUnderCommittedFacilitiesMember" name="FundedUnderCommittedFacilitiesMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_ServicingAdvancesSecuredNotesPayable" name="ServicingAdvancesSecuredNotesPayable" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" abstract="false" xbrli:balance="credit"/>
  <xsd:element id="pmt_MortgageLoanParticipationPurchaseAndSaleAgreementAverageOutstandingBalance" name="MortgageLoanParticipationPurchaseAndSaleAgreementAverageOutstandingBalance" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" abstract="false" xbrli:balance="credit"/>
  <xsd:element id="pmt_ServicingAdvancesPledgedToCreditors" name="ServicingAdvancesPledgedToCreditors" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" abstract="false" xbrli:balance="debit"/>
  <xsd:element id="pmt_MizuhoFinancialGroupMember" name="MizuhoFinancialGroupMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_ConventionalConformingLoansMember" name="ConventionalConformingLoansMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_BaseServicesFeesForReo" name="BaseServicesFeesForReo" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="debit"/>
  <xsd:element id="pmt_MortgageLoansOnRealEstateInForeclosurePrincipalAmountOfDelinquentLoans" name="MortgageLoansOnRealEstateInForeclosurePrincipalAmountOfDelinquentLoans" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" abstract="false" xbrli:balance="debit"/>
  <xsd:element id="pmt_NetIncomeExceedsTenPercentageMember" name="NetIncomeExceedsTenPercentageMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_PledgedAssetsSeparatelyReportedLoansAcquiredForSalePledgedAsCollateralAtFairValue" name="PledgedAssetsSeparatelyReportedLoansAcquiredForSalePledgedAsCollateralAtFairValue" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" abstract="false" xbrli:balance="debit"/>
  <xsd:element id="pmt_PercentageOfReturnOnEquity" name="PercentageOfReturnOnEquity" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" abstract="false"/>
  <xsd:element id="pmt_PennyMacFinancialServicesAffiliatedEntityMember" name="PennyMacFinancialServicesAffiliatedEntityMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_SeptemberTwoThousandTwentyThreeMember" name="SeptemberTwoThousandTwentyThreeMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_MortgageLoansHeldForSaleOutstandingContractualPurchaseCommitments" name="MortgageLoansHeldForSaleOutstandingContractualPurchaseCommitments" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" abstract="false" xbrli:balance="credit"/>
  <xsd:element id="pmt_NetGainsLossesOnInvestmentsAndFinancingsMember" name="NetGainsLossesOnInvestmentsAndFinancingsMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_AssetBackedSecuredFinancingTableTextBlock" name="AssetBackedSecuredFinancingTableTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false"/>
  <xsd:element id="pmt_TwentyFiveAprilTwoThousandEighteenMember" name="TwentyFiveAprilTwoThousandEighteenMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_SixMarchTwentyTwentyFourMember" name="SixMarchTwentyTwentyFourMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_ExchangeableSeniorNotesPerNotePrincipalAmount" name="ExchangeableSeniorNotesPerNotePrincipalAmount" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="debit"/>
  <xsd:element id="pmt_MortgageServicingRightsSecuredNotesPayable" name="MortgageServicingRightsSecuredNotesPayable" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" abstract="false" xbrli:balance="credit"/>
  <xsd:element id="pmt_MortgageLoansAcquiredForSaleOutstandingContractualPurchaseCommitments" name="MortgageLoansAcquiredForSaleOutstandingContractualPurchaseCommitments" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" abstract="false" xbrli:balance="credit"/>
  <xsd:element id="pmt_MortgageLoansFairValueDisclosure" name="MortgageLoansFairValueDisclosure" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" abstract="false" xbrli:balance="debit"/>
  <xsd:element id="pmt_ServicingFeesReceivable" name="ServicingFeesReceivable" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" abstract="false" xbrli:balance="debit"/>
  <xsd:element id="pmt_UnpaidBalanceOfMortgageLoansUnderlyingCreditGuaranteesOnCreditRiskTransferAgreements" name="UnpaidBalanceOfMortgageLoansUnderlyingCreditGuaranteesOnCreditRiskTransferAgreements" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" abstract="false" xbrli:balance="debit"/>
  <xsd:element id="pmt_FloatingRateCollateralizedMortgageObligationsMember" name="FloatingRateCollateralizedMortgageObligationsMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_CreditRiskTransferCreditGuaranteeObligationAssets" name="CreditRiskTransferCreditGuaranteeObligationAssets" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" abstract="false" xbrli:balance="debit"/>
  <xsd:element id="pmt_CoronavirusAidReliefAndEconomicSecurityActMember" name="CoronavirusAidReliefAndEconomicSecurityActMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_MeasurementInputPullThroughRateMember" name="MeasurementInputPullThroughRateMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_LoanManagementFeesAndFulfillmentServicingPayableToAffiliate" name="LoanManagementFeesAndFulfillmentServicingPayableToAffiliate" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="debit"/>
  <xsd:element id="pmt_MeasurementInputRemainingLossExpectationMember" name="MeasurementInputRemainingLossExpectationMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_ScheduleOfContractuallySpecifiedServicingFeesTableTextBlock" name="ScheduleOfContractuallySpecifiedServicingFeesTableTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false"/>
  <xsd:element id="pmt_HeldForSaleToAffiliatesMember" name="HeldForSaleToAffiliatesMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_ServicesAgreementRenewedAndAmendedAdjustedExpirationDate" name="ServicesAgreementRenewedAndAmendedAdjustedExpirationDate" type="xbrli:dateItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false"/>
  <xsd:element id="pmt_MortgageLoanServicingFeesEarnedByAffiliateAndMortgageServicingRightsRecapturedIncomeEarnedTableTextBlock" name="MortgageLoanServicingFeesEarnedByAffiliateAndMortgageServicingRightsRecapturedIncomeEarnedTableTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false"/>
  <xsd:element id="pmt_MortgageBackedSecuritiesAbstract" name="MortgageBackedSecuritiesAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_ScheduleOfKeyInputsUsedInValuationOfInterestRateLockCommitmentsTableTextBlock" name="ScheduleOfKeyInputsUsedInValuationOfInterestRateLockCommitmentsTableTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false"/>
  <xsd:element id="pmt_CumulativeDividendsFromDateOfOriginalIssuanceToMarchFourteenTwoThousandTwentyFourMember" name="CumulativeDividendsFromDateOfOriginalIssuanceToMarchFourteenTwoThousandTwentyFourMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_MeasurementInputServicingFeeMultipleMember" name="MeasurementInputServicingFeeMultipleMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_SubordinateResidentialTransitionMember" name="SubordinateResidentialTransitionMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_BaseMember" name="BaseMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_PercentageOfConsolidatedNetIncome" name="PercentageOfConsolidatedNetIncome" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false"/>
  <xsd:element id="pmt_ReimbursementOfCommonOverheadIncurredByAffiliates" name="ReimbursementOfCommonOverheadIncurredByAffiliates" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="debit"/>
  <xsd:element id="pmt_SummaryOfInvestmentTransactionsWithAffiliateTableTextBlock" name="SummaryOfInvestmentTransactionsWithAffiliateTableTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false"/>
  <xsd:element id="pmt_GainLossOnAssetBackedFinancingAtFairValue" name="GainLossOnAssetBackedFinancingAtFairValue" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="credit"/>
  <xsd:element id="pmt_CollectionStatusInUnpaidPrincipalBalanceAbstract" name="CollectionStatusInUnpaidPrincipalBalanceAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_SecuredTermNotesMember" name="SecuredTermNotesMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_ConversionRate" name="ConversionRate" type="xbrli:decimalItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false"/>
  <xsd:element id="pmt_FairValueUnpaidPrincipalBalanceOfUnderlyingLoans" name="FairValueUnpaidPrincipalBalanceOfUnderlyingLoans" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="credit"/>
  <xsd:element id="pmt_AverageBalanceDuringPeriodForLoansAcquiredForSale" name="AverageBalanceDuringPeriodForLoansAcquiredForSale" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="credit"/>
  <xsd:element id="pmt_LoanFulfillmentFeesPayableToAffiliate" name="LoanFulfillmentFeesPayableToAffiliate" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="debit"/>
  <xsd:element id="pmt_UnpaidPrincipalBalanceOfLoansRecaptured" name="UnpaidPrincipalBalanceOfLoansRecaptured" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="credit"/>
  <xsd:element id="pmt_SeniorNotesDueTwoThousandTwentyEightMember" name="SeniorNotesDueTwoThousandTwentyEightMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_GainsLossesRecognizedOnCreditDefaultSwapsValuationChanges" name="GainsLossesRecognizedOnCreditDefaultSwapsValuationChanges" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="credit"/>
  <xsd:element id="pmt_LoansHeldForSaleAtFairValueMember" name="LoansHeldForSaleAtFairValueMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_ScheduleOfAssetsMeasuredAtFairValueOnNonRecurringBasisTableTextBlock" name="ScheduleOfAssetsMeasuredAtFairValueOnNonRecurringBasisTableTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false"/>
  <xsd:element id="pmt_LiabilityForRepresentationsAndWarrantiesAbstract" name="LiabilityForRepresentationsAndWarrantiesAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_RepurchaseOfRealEstatePreviouslySoldAsLoansAcquiredForSale" name="RepurchaseOfRealEstatePreviouslySoldAsLoansAcquiredForSale" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="credit"/>
  <xsd:element id="pmt_ServicingIncomeLossNetOfValuationAdjustments" name="ServicingIncomeLossNetOfValuationAdjustments" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="credit"/>
  <xsd:element id="pmt_ScheduleOfMortgageAggregationActivityAffiliateTableTextBlock" name="ScheduleOfMortgageAggregationActivityAffiliateTableTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false"/>
  <xsd:element id="pmt_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAccrualOfUnearnedDiscount" name="FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAccrualOfUnearnedDiscount" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="debit"/>
  <xsd:element id="pmt_FairValueOptionLoansHeldAsAssetsNotInForeclosureAggregateDifference" name="FairValueOptionLoansHeldAsAssetsNotInForeclosureAggregateDifference" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" abstract="false" xbrli:balance="debit"/>
  <xsd:element id="pmt_MortgageBackedSecuritiesMaturityPeriod" name="MortgageBackedSecuritiesMaturityPeriod" type="xbrli:durationItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false"/>
  <xsd:element id="pmt_BankOfMontrealMember" name="BankOfMontrealMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_PaymentsToPurchaseMortgageLoansHeldForSaleNonaffiliates" name="PaymentsToPurchaseMortgageLoansHeldForSaleNonaffiliates" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="credit"/>
  <xsd:element id="pmt_UnpaidBalanceOfMortgageLoansSubjectToCreditGuaranteeOnCreditRiskTransferAgreementsCurrent" name="UnpaidBalanceOfMortgageLoansSubjectToCreditGuaranteeOnCreditRiskTransferAgreementsCurrent" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" abstract="false" xbrli:balance="debit"/>
  <xsd:element id="pmt_EquityDistributionAgreementMember" name="EquityDistributionAgreementMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_MortgageLoansInDistressedMortgageLoanPortfolioAtFairValueMember" name="MortgageLoansInDistressedMortgageLoanPortfolioAtFairValueMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_ServicingAdvancesAndRealEstateAcquiredThroughForeclosure" name="ServicingAdvancesAndRealEstateAcquiredThroughForeclosure" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" abstract="false" xbrli:balance="debit"/>
  <xsd:element id="pmt_TwoThousandTwentyThreeSeniorNotesMember" name="TwoThousandTwentyThreeSeniorNotesMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_ScheduleOfCreditRiskTransferAgreementsTableTextBlock" name="ScheduleOfCreditRiskTransferAgreementsTableTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false"/>
  <xsd:element id="pmt_ExchangeableSeniorNotesDueTwoThousandAndTwentySixMember" name="ExchangeableSeniorNotesDueTwoThousandAndTwentySixMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_AverageMortgageServicingRightsUnpaidPrincipalBalance" name="AverageMortgageServicingRightsUnpaidPrincipalBalance" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="credit"/>
  <xsd:element id="pmt_RepaymentOfMortgageLoanParticipationPurchaseAndSaleAgreements" name="RepaymentOfMortgageLoanParticipationPurchaseAndSaleAgreements" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="credit"/>
  <xsd:element id="pmt_MortgageLoanParticipationPurchaseAndSalesAgreementMember" name="MortgageLoanParticipationPurchaseAndSalesAgreementMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_TwoThousandTwentyNineExchangeableNotesMember" name="TwoThousandTwentyNineExchangeableNotesMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_MarchFiveTwentyTwentyOneMember" name="MarchFiveTwentyTwentyOneMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_ExchangeableSeniorNotesDueTwoThousandAndTwentyFourAndTwoThousandAndTwentySixMember" name="ExchangeableSeniorNotesDueTwoThousandAndTwentyFourAndTwoThousandAndTwentySixMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_VIEsLoanMember" name="VIEsLoanMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_NotesPayableSecuredByCreditRiskTransferAndMortageServicingAsset" name="NotesPayableSecuredByCreditRiskTransferAndMortageServicingAsset" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" abstract="false" xbrli:balance="credit"/>
  <xsd:element id="pmt_MortgageLoanParticipationPurchaseAndSaleAgreement" name="MortgageLoanParticipationPurchaseAndSaleAgreement" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" abstract="false" xbrli:balance="credit"/>
  <xsd:element id="pmt_GainsLossesOnInvestmentsAndFinancingsTableTextBlock" name="GainsLossesOnInvestmentsAndFinancingsTableTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false"/>
  <xsd:element id="pmt_FairValueInputsPrepaymentSpeedDuringPeriod" name="FairValueInputsPrepaymentSpeedDuringPeriod" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false"/>
  <xsd:element id="pmt_FannieMaeMortgageServicingRightsFinancingMember" name="FannieMaeMortgageServicingRightsFinancingMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_AssetBackedSecuredFinancingLiabilityFairValue" name="AssetBackedSecuredFinancingLiabilityFairValue" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" abstract="false" xbrli:balance="credit"/>
  <xsd:element id="pmt_LoanPortfolioIncomeExpense" name="LoanPortfolioIncomeExpense" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="credit"/>
  <xsd:element id="pmt_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentOtherThanOptionVestedAndExpectedToVestNumber" name="ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentOtherThanOptionVestedAndExpectedToVestNumber" type="xbrli:sharesItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" abstract="false"/>
  <xsd:element id="pmt_IoSecurityMember" name="IoSecurityMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_DerivativeAndCreditRiskTransferStripAssets" name="DerivativeAndCreditRiskTransferStripAssets" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" abstract="false" xbrli:balance="debit"/>
  <xsd:element id="pmt_IncreaseDecreaseInServicingAdvances" name="IncreaseDecreaseInServicingAdvances" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="credit"/>
  <xsd:element id="pmt_LoanAndSecurityAgreementWithCitibankMember" name="LoanAndSecurityAgreementWithCitibankMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_MortgageLoanClassificationByCreditQualityAndTypeTableTextBlock" name="MortgageLoanClassificationByCreditQualityAndTypeTableTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false"/>
  <xsd:element id="pmt_MortgageLoanCollectionAndLiquidationExpenses" name="MortgageLoanCollectionAndLiquidationExpenses" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="debit"/>
  <xsd:element id="pmt_LoanServicingFees" name="LoanServicingFees" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="debit"/>
  <xsd:element id="pmt_DocumentAndEntityInformationTable" name="DocumentAndEntityInformationTable" type="xbrli:stringItemType" substitutionGroup="xbrldt:hypercubeItem" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_PutOptionsOnInterestRateFuturesSaleContractsMember" name="PutOptionsOnInterestRateFuturesSaleContractsMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_MortgageBackedSecuritiesPutOptionsMember" name="MortgageBackedSecuritiesPutOptionsMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_MaturityNineZeroToOneEightZeroDaysMember" name="MaturityNineZeroToOneEightZeroDaysMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_AtlasSecuritizedProductsLPMember" name="AtlasSecuritizedProductsLPMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_DelinquentAmountInCOVID19PandemicRelatedForbearanceAtEndOfPeriodOnLoansManagedAndSecuritizedNinetyToOneHundredAndEightyDays" name="DelinquentAmountInCOVID19PandemicRelatedForbearanceAtEndOfPeriodOnLoansManagedAndSecuritizedNinetyToOneHundredAndEightyDays" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" abstract="false" xbrli:balance="debit"/>
  <xsd:element id="pmt_FinancialInstrumentsOwnedMortgagesMortgageBackedAndAssetBackedSecuritiesValuationAdjustments" name="FinancialInstrumentsOwnedMortgagesMortgageBackedAndAssetBackedSecuritiesValuationAdjustments" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="credit"/>
  <xsd:element id="pmt_TaxableREITSubsidiaryMember" name="TaxableREITSubsidiaryMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_SummaryOfCashFlowsBetweenCompanyAndTransfereesUponSaleOfLoansInTransactionsTableTextBlock" name="SummaryOfCashFlowsBetweenCompanyAndTransfereesUponSaleOfLoansInTransactionsTableTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false"/>
  <xsd:element id="pmt_MortgageLoansHeldForSaleMember" name="MortgageLoansHeldForSaleMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_MortgageBackedSecuritiesDisclosureTextBlock" name="MortgageBackedSecuritiesDisclosureTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false"/>
  <xsd:element id="pmt_CommittedAmount" name="CommittedAmount" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" abstract="false" xbrli:balance="debit"/>
  <xsd:element id="pmt_ChangeInFairValueHedgingInstrumentsStillHeldAtPeriodEnd" name="ChangeInFairValueHedgingInstrumentsStillHeldAtPeriodEnd" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="credit"/>
  <xsd:element id="pmt_InterestOnlySecurityPayableAtFairValue" name="InterestOnlySecurityPayableAtFairValue" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" abstract="false" xbrli:balance="credit"/>
  <xsd:element id="pmt_AggregationAndSecuritizationCosts" name="AggregationAndSecuritizationCosts" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" abstract="false" xbrli:balance="credit"/>
  <xsd:element id="pmt_MaturityOneYearToTwoYearsMember" name="MaturityOneYearToTwoYearsMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_LiabilityForRepresentationsAndWarrantiesDisclosureTextBlock" name="LiabilityForRepresentationsAndWarrantiesDisclosureTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false"/>
  <xsd:element id="pmt_CreditRiskTransferAgreementMember" name="CreditRiskTransferAgreementMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_RoyalBankOfCanadaCapitalMarketsLPMember" name="RoyalBankOfCanadaCapitalMarketsLPMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_FairValueOfCreditRiskTransferDerivatives" name="FairValueOfCreditRiskTransferDerivatives" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" abstract="false" xbrli:balance="debit"/>
  <xsd:element id="pmt_CRTTermNotesMember" name="CRTTermNotesMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_FinancialInstrumentsOwnedMortgagesMortgageBackedAndAssetBackedSecuritiesPurchasePremiumsDiscountsNet" name="FinancialInstrumentsOwnedMortgagesMortgageBackedAndAssetBackedSecuritiesPurchasePremiumsDiscountsNet" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" abstract="false" xbrli:balance="debit"/>
  <xsd:element id="pmt_ChangesInFairValueOfLoansAndDerivatives" name="ChangesInFairValueOfLoansAndDerivatives" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="credit"/>
  <xsd:element id="pmt_SeniorNotesDueTwoThousandThirtyMember" name="SeniorNotesDueTwoThousandThirtyMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_RepurchaseAgreementFacilities" name="RepurchaseAgreementFacilities" type="xbrli:durationItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false"/>
  <xsd:element id="pmt_BaseServicesFeesToRelatedParty" name="BaseServicesFeesToRelatedParty" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="debit"/>
  <xsd:element id="pmt_MortgageLoanSourcingFeesFromAffiliate" name="MortgageLoanSourcingFeesFromAffiliate" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="debit"/>
  <xsd:element id="pmt_CapitalRequirementsByAgenciesLineItems" name="CapitalRequirementsByAgenciesLineItems" type="xbrli:stringItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_MortgageLoansSoldToAffiliatesUnpaidPrincipalBalance" name="MortgageLoansSoldToAffiliatesUnpaidPrincipalBalance" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="debit"/>
  <xsd:element id="pmt_TwoThousandTwentySixExchangeableNotesMember" name="TwoThousandTwentySixExchangeableNotesMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_LoanServicingFeesMember" name="LoanServicingFeesMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_MortgageLoansOnRealEstateAdjustedLoanCommitments" name="MortgageLoansOnRealEstateAdjustedLoanCommitments" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="credit"/>
  <xsd:element id="pmt_GainsLossesRecognizedOnCreditRiskTransferAgreementsIncludedInNetLossGainOnInvestments" name="GainsLossesRecognizedOnCreditRiskTransferAgreementsIncludedInNetLossGainOnInvestments" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="credit"/>
  <xsd:element id="pmt_MortgageBackedSecuritiesAtFairValueMember" name="MortgageBackedSecuritiesAtFairValueMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_FairValueOptionLoansHeldAsAssetsNotInForeclosureAggregateFairValue" name="FairValueOptionLoansHeldAsAssetsNotInForeclosureAggregateFairValue" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" abstract="false" xbrli:balance="debit"/>
  <xsd:element id="pmt_FinancialInstrumentsOwnedMortgagesMortgageBackedAndAssetBackedSecuritiesCumulativeValuationChanges" name="FinancialInstrumentsOwnedMortgagesMortgageBackedAndAssetBackedSecuritiesCumulativeValuationChanges" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" abstract="false" xbrli:balance="credit"/>
  <xsd:element id="pmt_FairValueInputAnnualPerLoanCostOfServicing" name="FairValueInputAnnualPerLoanCostOfServicing" type="xbrli:decimalItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" abstract="false"/>
  <xsd:element id="pmt_DistressedLoansMember" name="DistressedLoansMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_DepositsSecuringCreditRiskTransferStripAndDerivativesLiabilities" name="DepositsSecuringCreditRiskTransferStripAndDerivativesLiabilities" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" abstract="false" xbrli:balance="credit"/>
  <xsd:element id="pmt_FairValueInputCostOfServicingMember" name="FairValueInputCostOfServicingMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_FairValueLiabilitiesMember" name="FairValueLiabilitiesMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_InterestExpenseOnConversionOption" name="InterestExpenseOnConversionOption" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="debit"/>
  <xsd:element id="pmt_InterestIncomeOnMortgageLoansSubjectToPlacementFeesRelatingToCustodialFunds" name="InterestIncomeOnMortgageLoansSubjectToPlacementFeesRelatingToCustodialFunds" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="credit"/>
  <xsd:element id="pmt_EffectOnValueOfTwentyPercentageAdverseChangeMember" name="EffectOnValueOfTwentyPercentageAdverseChangeMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_ServiceAgreementMaturityRenewalTerm" name="ServiceAgreementMaturityRenewalTerm" type="xbrli:durationItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false"/>
  <xsd:element id="pmt_CrtArrangementFinancingMember" name="CrtArrangementFinancingMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_ThirtyMarchTwoThousandTwentyOneMember" name="ThirtyMarchTwoThousandTwentyOneMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_CommissionAmountMember" name="CommissionAmountMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_UpbOfLoansRecaptured" name="UpbOfLoansRecaptured" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="credit"/>
  <xsd:element id="pmt_ScheduleOfCorrespondentProductionActivityAffiliateTableTextBlock" name="ScheduleOfCorrespondentProductionActivityAffiliateTableTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false"/>
  <xsd:element id="pmt_AssetsSoldUnderAgreementsToRepurchaseAverageBalance" name="AssetsSoldUnderAgreementsToRepurchaseAverageBalance" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="debit"/>
  <xsd:element id="pmt_UnsecuredDebtIncludeExchangeableSeniorNotes" name="UnsecuredDebtIncludeExchangeableSeniorNotes" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" abstract="false" xbrli:balance="credit"/>
  <xsd:element id="pmt_TransferOfInterestRateLockCommitmentsToLoansHeldForSale" name="TransferOfInterestRateLockCommitmentsToLoansHeldForSale" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="credit"/>
  <xsd:element id="pmt_TwentySecondDecemberTwentyTwentyFiveMember" name="TwentySecondDecemberTwentyTwentyFiveMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_GainLossOnSaleOfMortgageLoansAcquiredForSaleCashPortion" name="GainLossOnSaleOfMortgageLoansAcquiredForSaleCashPortion" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="credit"/>
  <xsd:element id="pmt_RecognitionOfLoansHeldForInvestmentResultingFromInitialConsolidationOfVariableInterestEntities" name="RecognitionOfLoansHeldForInvestmentResultingFromInitialConsolidationOfVariableInterestEntities" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="debit"/>
  <xsd:element id="pmt_FinancialInstrumentsOwnedMortgagesMortgageBackedAndAssetBackedSecuritiesAmortizationOfPurchasePremiumsDiscounts" name="FinancialInstrumentsOwnedMortgagesMortgageBackedAndAssetBackedSecuritiesAmortizationOfPurchasePremiumsDiscounts" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="credit"/>
  <xsd:element id="pmt_MortgageLoansOnRealEstateLoansCommitmentsMultiplier" name="MortgageLoansOnRealEstateLoansCommitmentsMultiplier" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="credit"/>
  <xsd:element id="pmt_PennymacFinancialServicesIncOneMember" name="PennymacFinancialServicesIncOneMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_IncomeTaxLineItems" name="IncomeTaxLineItems" type="xbrli:stringItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_Pledgedfinancialinstrumentsnotseparatelyreportedpledgedsecurities" name="Pledgedfinancialinstrumentsnotseparatelyreportedpledgedsecurities" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" abstract="false" xbrli:balance="debit"/>
  <xsd:element id="pmt_TaxServiceFeesPaid" name="TaxServiceFeesPaid" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="debit"/>
  <xsd:element id="pmt_GainLossOnSalesOfLoansNetMember" name="GainLossOnSalesOfLoansNetMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_SecuritiesSoldUnderAgreementsToRepurchaseWeightedAverageInterestRateDuringPeriod" name="SecuritiesSoldUnderAgreementsToRepurchaseWeightedAverageInterestRateDuringPeriod" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false"/>
  <xsd:element id="pmt_MortgageLoanParticipationAndSaleAgreementMaximumDailyOutstanding" name="MortgageLoanParticipationAndSaleAgreementMaximumDailyOutstanding" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="credit"/>
  <xsd:element id="pmt_LoansHeldForSaleMember" name="LoansHeldForSaleMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_UnpaidPrincipalBalanceMember" name="UnpaidPrincipalBalanceMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_PledgedAssetsMember" name="PledgedAssetsMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_AssetSoldUnderAgreementsToRepurchaseMaximumDailyAmountOutstanding" name="AssetSoldUnderAgreementsToRepurchaseMaximumDailyAmountOutstanding" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="debit"/>
  <xsd:element id="pmt_IncreaseDecreaseInMarginDepositsOutstandingInvestingActivities" name="IncreaseDecreaseInMarginDepositsOutstandingInvestingActivities" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="credit"/>
  <xsd:element id="pmt_PutOptionsOnInterestRateFuturesSellContractsMember" name="PutOptionsOnInterestRateFuturesSellContractsMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_NonCashGainFromReductionInLiabilityDueToChangeInEstimate" name="NonCashGainFromReductionInLiabilityDueToChangeInEstimate" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="credit"/>
  <xsd:element id="pmt_PledgedFinancialInstrumentsNotSeparatelyReportedAndAssetsSeparatelyReportedOnStatementAtFairValue" name="PledgedFinancialInstrumentsNotSeparatelyReportedAndAssetsSeparatelyReportedOnStatementAtFairValue" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" abstract="false" xbrli:balance="debit"/>
  <xsd:element id="pmt_FairValueInputsPricingSpread" name="FairValueInputsPricingSpread" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" abstract="false"/>
  <xsd:element id="pmt_RBCCapitalMarketsLPMember" name="RBCCapitalMarketsLPMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_DepositsSecuringCreditRiskTransferAgreements" name="DepositsSecuringCreditRiskTransferAgreements" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" abstract="false" xbrli:balance="debit"/>
  <xsd:element id="pmt_HeldForSaleToPennymacLoanServicesGovernmentSponseredEntityEligibleMember" name="HeldForSaleToPennymacLoanServicesGovernmentSponseredEntityEligibleMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_NonCashInvestingInUnsettledSecuritiesTrades" name="NonCashInvestingInUnsettledSecuritiesTrades" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="debit"/>
  <xsd:element id="pmt_InterestOnlyStrippedMortgageBackedSecuritiesMember" name="InterestOnlyStrippedMortgageBackedSecuritiesMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_TwentyFourMayTwoThousandTwentyFourMember" name="TwentyFourMayTwoThousandTwentyFourMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_CreditSensitiveStrategiesMember" name="CreditSensitiveStrategiesMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_FinancialInstrumentsOwnedMortgagesMortgageBackedAndAssetBackedSecuritiesRepayment" name="FinancialInstrumentsOwnedMortgagesMortgageBackedAndAssetBackedSecuritiesRepayment" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="credit"/>
  <xsd:element id="pmt_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPurchasesAndIssuances" name="FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPurchasesAndIssuances" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="debit"/>
  <xsd:element id="pmt_ReclassificationFromAdditionalPaidInCapitalToCarryingValueOfExchangeableNotes" name="ReclassificationFromAdditionalPaidInCapitalToCarryingValueOfExchangeableNotes" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" abstract="false" xbrli:balance="credit"/>
  <xsd:element id="pmt_ManagementAgreementMaturityRenewalTerm" name="ManagementAgreementMaturityRenewalTerm" type="xbrli:durationItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false"/>
  <xsd:element id="pmt_ReimbursementOfExpensesToAffiliateNet" name="ReimbursementOfExpensesToAffiliateNet" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="debit"/>
  <xsd:element id="pmt_RegulatoryAssetsAbstract" name="RegulatoryAssetsAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_NonRule10B51ArrModifiedFlag" name="NonRule10B51ArrModifiedFlag" type="xbrli:booleanItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false"/>
  <xsd:element id="pmt_SafekeepingExpense" name="SafekeepingExpense" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="debit"/>
  <xsd:element id="pmt_ShareBasedCompensationArrangementByShareBasedPaymentAwardVestedWithZeroAttainment" name="ShareBasedCompensationArrangementByShareBasedPaymentAwardVestedWithZeroAttainment" type="xbrli:sharesItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false"/>
  <xsd:element id="pmt_FinancialInstrumentsOwnedMortgagesMortgageBackedAndAssetBackedSecuritiesChangesInFairValueIncludedInIncomeAbstract" name="FinancialInstrumentsOwnedMortgagesMortgageBackedAndAssetBackedSecuritiesChangesInFairValueIncludedInIncomeAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_PerformanceIncentiveMember" name="PerformanceIncentiveMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_RepurchaseAgreementsWeightedAverageMaturityPeriod" name="RepurchaseAgreementsWeightedAverageMaturityPeriod" type="xbrli:durationItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false"/>
  <xsd:element id="pmt_FreddieMaeMsrAndServicingAdvanceReceivablesFinancingMember" name="FreddieMaeMsrAndServicingAdvanceReceivablesFinancingMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_ScheduleOfKeyUnobservableInputsUsedInValuationOfInterestOnlyStrippedCreditRiskTransferSecuritiesAtFairValueTableTextBlock" name="ScheduleOfKeyUnobservableInputsUsedInValuationOfInterestOnlyStrippedCreditRiskTransferSecuritiesAtFairValueTableTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false"/>
  <xsd:element id="pmt_GovernmentSponsoredEntityEligibleMember" name="GovernmentSponsoredEntityEligibleMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedAndExpectedToVestWeightedAverageGrantDateFairValue" name="ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedAndExpectedToVestWeightedAverageGrantDateFairValue" type="dtr-types:perShareItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" abstract="false"/>
  <xsd:element id="pmt_InitialExchangeableRateMember" name="InitialExchangeableRateMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_MortgageBackedSecurityYieldAverageNumberOfYear" name="MortgageBackedSecurityYieldAverageNumberOfYear" type="xbrli:durationItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false"/>
  <xsd:element id="pmt_NonCashPortionOfGainOnMortgageLoansAcquiredForSaleAbstract" name="NonCashPortionOfGainOnMortgageLoansAcquiredForSaleAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_CorrespondentProductionMember" name="CorrespondentProductionMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_OtherOperatingIncomeLossNet" name="OtherOperatingIncomeLossNet" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="credit"/>
  <xsd:element id="pmt_ServicingAdvances" name="ServicingAdvances" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" abstract="false" xbrli:balance="debit"/>
  <xsd:element id="pmt_AssetBackedSecuredFinancingInterestExpense" name="AssetBackedSecuredFinancingInterestExpense" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="debit"/>
  <xsd:element id="pmt_MortgageLoanHedgingActivitiesCashGainLoss" name="MortgageLoanHedgingActivitiesCashGainLoss" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="credit"/>
  <xsd:element id="pmt_MortgageLoansAtFairValueSoldUnderAgreementsMaturity" name="MortgageLoansAtFairValueSoldUnderAgreementsMaturity" type="xbrli:dateItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false"/>
  <xsd:element id="pmt_PennyMacLoanServicesLlcMember" name="PennyMacLoanServicesLlcMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_ProvisionForLossesUnderRepresentationAndWarrantiesAbstract" name="ProvisionForLossesUnderRepresentationAndWarrantiesAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_ExcessServicingSpreadRecaptureReceivedAsExcessServicingSpread" name="ExcessServicingSpreadRecaptureReceivedAsExcessServicingSpread" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="debit"/>
  <xsd:element id="pmt_MaximumAggregateOfferingPrice" name="MaximumAggregateOfferingPrice" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" abstract="false" xbrli:balance="credit"/>
  <xsd:element id="pmt_MorganStanleyAndCompanyLLCMember" name="MorganStanleyAndCompanyLLCMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_UncommittedFacilitiesMember" name="UncommittedFacilitiesMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_GoldmanSachsCoLLCMember" name="GoldmanSachsCoLLCMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_MortgageServicingRightsMember" name="MortgageServicingRightsMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_ReimbursementOfCompensationToAffiliates" name="ReimbursementOfCompensationToAffiliates" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="debit"/>
  <xsd:element id="pmt_TransfersAstract" name="TransfersAstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false"/>
  <xsd:element id="pmt_FairValueInputWeightedAverageLife" name="FairValueInputWeightedAverageLife" type="xbrli:durationItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false"/>
  <xsd:element id="pmt_DerivativeAndCreditRiskTransferStripLiabilitiesAbstract" name="DerivativeAndCreditRiskTransferStripLiabilitiesAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_FourAprilTwentyTwentyFourMember" name="FourAprilTwentyTwentyFourMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_FairValueInputsOption-AdjustedSpread" name="FairValueInputsOption-AdjustedSpread" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" abstract="false"/>
  <xsd:element id="pmt_RepurchaseAgreementsMaturitiesTableTextBlock" name="RepurchaseAgreementsMaturitiesTableTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false"/>
  <xsd:element id="pmt_DelinquentAmountAtEndOfPeriodOnLoansManagedAndSecuritizedNinetyToOneHundredAndSeventyNine" name="DelinquentAmountAtEndOfPeriodOnLoansManagedAndSecuritizedNinetyToOneHundredAndSeventyNine" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" abstract="false" xbrli:balance="debit"/>
  <xsd:element id="pmt_ConventionalConformingMember" name="ConventionalConformingMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_FairValueUnobservableInputsDiscountRate" name="FairValueUnobservableInputsDiscountRate" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false"/>
  <xsd:element id="pmt_FinancialInstrumentsOwnedMortgagesMortgageBackedAndAssetBackedSecuritiesAtFairValuePurchases" name="FinancialInstrumentsOwnedMortgagesMortgageBackedAndAssetBackedSecuritiesAtFairValuePurchases" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="debit"/>
  <xsd:element id="pmt_JumboLoanMember" name="JumboLoanMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_UnsecuredSeniorNotesMember" name="UnsecuredSeniorNotesMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_AgencyConformingLoansSecuredByNonOwnerOccupiedPropertiesMember" name="AgencyConformingLoansSecuredByNonOwnerOccupiedPropertiesMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_FannieMaeMSRFinancingMember" name="FannieMaeMSRFinancingMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_ScheduleOfMortgageLoanHeldForSaleTableTextBlock" name="ScheduleOfMortgageLoanHeldForSaleTableTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false"/>
  <xsd:element id="pmt_HeldForSaleNonaffiliatesGSEEligibleMember" name="HeldForSaleNonaffiliatesGSEEligibleMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_SwaptionPurchaseContractsMember" name="SwaptionPurchaseContractsMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_FairValueInputsPricingSpreadDuringPeriod" name="FairValueInputsPricingSpreadDuringPeriod" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false"/>
  <xsd:element id="pmt_JPMorganSecuritiesLLCMember" name="JPMorganSecuritiesLLCMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_CapitalRequirementsByAgenciesTable" name="CapitalRequirementsByAgenciesTable" type="xbrli:stringItemType" substitutionGroup="xbrldt:hypercubeItem" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_ProceedsFromRepurchaseOfMortgageLoansSubjectToRepresentationAndWarranties" name="ProceedsFromRepurchaseOfMortgageLoansSubjectToRepresentationAndWarranties" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="debit"/>
  <xsd:element id="pmt_JPMorganChaseAndCompanyMember" name="JPMorganChaseAndCompanyMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_ScheduleOfMortgageBackedSecuritiesPledgedToSecureAssetsSoldTableTextBlock" name="ScheduleOfMortgageBackedSecuritiesPledgedToSecureAssetsSoldTableTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false"/>
  <xsd:element id="pmt_ProceedsFromIssuanceOfMortgageLoanParticipationPurchaseAndSaleAgreements" name="ProceedsFromIssuanceOfMortgageLoanParticipationPurchaseAndSaleAgreements" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="debit"/>
  <xsd:element id="pmt_FourJuneTwoThousandTwentyFourMember" name="FourJuneTwoThousandTwentyFourMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_FairValueOptionLoansHeldAsAssetsAggregateFairValue" name="FairValueOptionLoansHeldAsAssetsAggregateFairValue" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" abstract="false" xbrli:balance="debit"/>
  <xsd:element id="pmt_AgencyConformingLoansSecuredByInvestmentPropertiesMember" name="AgencyConformingLoansSecuredByInvestmentPropertiesMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_LongTermDebtAverageBalanceDuringPeriod" name="LongTermDebtAverageBalanceDuringPeriod" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="credit"/>
  <xsd:element id="pmt_AdjustableRateMortgagesMember" name="AdjustableRateMortgagesMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_TransferToAgencyOfMortgageServicingRightsRelatingToDelinquentLoans" name="TransferToAgencyOfMortgageServicingRightsRelatingToDelinquentLoans" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="credit"/>
  <xsd:element id="pmt_FTOneNotesMember" name="FTOneNotesMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_Rule10B51ArrModifiedFlag" name="Rule10B51ArrModifiedFlag" type="xbrli:booleanItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false"/>
  <xsd:element id="pmt_RepaymentsOfAssetsSoldUnderAgreementsToRepurchase" name="RepaymentsOfAssetsSoldUnderAgreementsToRepurchase" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="credit"/>
  <xsd:element id="pmt_ChangeInFairValueOfCommitmentsToPurchaseLoans" name="ChangeInFairValueOfCommitmentsToPurchaseLoans" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="credit"/>
  <xsd:element id="pmt_FreddieMacMortgageServicingRightsFinancingMember" name="FreddieMacMortgageServicingRightsFinancingMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_WellsFargoSecuritiesLLCMember" name="WellsFargoSecuritiesLLCMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_FairValueWeightedAverageCouponInterestRate" name="FairValueWeightedAverageCouponInterestRate" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false"/>
  <xsd:element id="pmt_GovernmentGuaranteedOrInsuredMember" name="GovernmentGuaranteedOrInsuredMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_ScheduleOfShareBasedCompensationArrangementByShareBasedPaymentAwardRestrictedShareUnitsAndPerformanceShareUnitsExpectedToVestOutstandingTableTextBlock" name="ScheduleOfShareBasedCompensationArrangementByShareBasedPaymentAwardRestrictedShareUnitsAndPerformanceShareUnitsExpectedToVestOutstandingTableTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false"/>
  <xsd:element id="pmt_ScheduleOfChangesInFairValueTableTextBlock" name="ScheduleOfChangesInFairValueTableTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false"/>
  <xsd:element id="pmt_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedExceedingPerformanceGoalsTargetInPeriod" name="ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedExceedingPerformanceGoalsTargetInPeriod" type="xbrli:sharesItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false"/>
  <xsd:element id="pmt_MeasurementInputInvoluntaryPrepaymentSpeedMember" name="MeasurementInputInvoluntaryPrepaymentSpeedMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_GainsLossesRecognizedOnCreditRiskTransferAgreements" name="GainsLossesRecognizedOnCreditRiskTransferAgreements" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="credit"/>
  <xsd:element id="pmt_StockRepurchaseProgramCumulativeNumberOfSharesRepurchased" name="StockRepurchaseProgramCumulativeNumberOfSharesRepurchased" type="xbrli:sharesItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" abstract="false"/>
  <xsd:element id="pmt_FairValueAssetsGainsLossesMember" name="FairValueAssetsGainsLossesMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_LoansHeldForInvestmentMember" name="LoansHeldForInvestmentMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_ReitQualificationThresholdPercentageOfTaxableIncomeForDistribution" name="ReitQualificationThresholdPercentageOfTaxableIncomeForDistribution" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false"/>
  <xsd:element id="pmt_FairValueUnpaidPrincipalOfUnderlyingLoansBalance" name="FairValueUnpaidPrincipalOfUnderlyingLoansBalance" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" abstract="false" xbrli:balance="credit"/>
  <xsd:element id="pmt_IncomeTaxTable" name="IncomeTaxTable" type="xbrli:stringItemType" substitutionGroup="xbrldt:hypercubeItem" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_FairValueInputsInvoluntaryPrepaymentSpeed" name="FairValueInputsInvoluntaryPrepaymentSpeed" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false"/>
  <xsd:element id="pmt_BNPParibasMember" name="BNPParibasMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_AdditionalServicingFees" name="AdditionalServicingFees" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="debit"/>
  <xsd:element id="pmt_GainLossOnNetDerivativeRelatesToCreditRiskTransfer" name="GainLossOnNetDerivativeRelatesToCreditRiskTransfer" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="credit"/>
  <xsd:element id="pmt_MortgageServicingRightsRecaptureFees" name="MortgageServicingRightsRecaptureFees" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="credit"/>
  <xsd:element id="pmt_ScheduleOfFairValueInputsDateOfSaleMortgageServicingRightTableTextBlock" name="ScheduleOfFairValueInputsDateOfSaleMortgageServicingRightTableTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false"/>
  <xsd:element id="pmt_RepresentationsAndWarrantiesLiability" name="RepresentationsAndWarrantiesLiability" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" abstract="false" xbrli:balance="credit"/>
  <xsd:element id="pmt_OnePointFivePercentOfStockholdersEquityMember" name="OnePointFivePercentOfStockholdersEquityMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_UnpaidPrincipalBalanceOfMortgageLoansInBankruptcy" name="UnpaidPrincipalBalanceOfMortgageLoansInBankruptcy" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" abstract="false" xbrli:balance="debit"/>
  <xsd:element id="pmt_DebtInstrumentFairValueCarryingValueAbstract" name="DebtInstrumentFairValueCarryingValueAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_GainLossOnLoansAcquiredForSaleMember" name="GainLossOnLoansAcquiredForSaleMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_DelinquentAmountAtEndOfPeriodOnLoansManagedAndSecuritizedThirtyToEightyNineDaysDelinquent" name="DelinquentAmountAtEndOfPeriodOnLoansManagedAndSecuritizedThirtyToEightyNineDaysDelinquent" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" abstract="false" xbrli:balance="debit"/>
  <xsd:element id="pmt_TwentySevenJuneTwoThousandTwentyFourMember" name="TwentySevenJuneTwoThousandTwentyFourMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_FairValueOptionLoansHeldAsAssetsNinetyDaysOrLessPastDue" name="FairValueOptionLoansHeldAsAssetsNinetyDaysOrLessPastDue" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" abstract="false" xbrli:balance="debit"/>
  <xsd:element id="pmt_NonAffiliatesMember" name="NonAffiliatesMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_ExchangeableNotesMember" name="ExchangeableNotesMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_CashFlowsAbstract" name="CashFlowsAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_DerivativeFairValueOfAssetMasterNettingAdjustment" name="DerivativeFairValueOfAssetMasterNettingAdjustment" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" abstract="false" xbrli:balance="debit"/>
  <xsd:element id="pmt_AgencyFixedRatePassThroughSectionsMember" name="AgencyFixedRatePassThroughSectionsMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_MortgageLoansAtFairValue" name="MortgageLoansAtFairValue" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" abstract="false" xbrli:balance="debit"/>
  <xsd:element id="pmt_TwentyEightAugustTwentyTwentyFourMember" name="TwentyEightAugustTwentyTwentyFourMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_Series2023Vf1AndClassAVf1VariableFundingNoteMember" name="Series2023Vf1AndClassAVf1VariableFundingNoteMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_FairValueInputsRemainingLossExpectation" name="FairValueInputsRemainingLossExpectation" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false"/>
  <xsd:element id="pmt_InterestIncomeOnMortgageLoansSubjectToDepositsSecuringCreditRiskTransferAgreements" name="InterestIncomeOnMortgageLoansSubjectToDepositsSecuringCreditRiskTransferAgreements" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="credit"/>
  <xsd:element id="pmt_ScheduleOfDerivativeAndFinancialLiabilitiesBySignificantCounterpartyNotOffsetTableTextBlock" name="ScheduleOfDerivativeAndFinancialLiabilitiesBySignificantCounterpartyNotOffsetTableTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false"/>
  <xsd:element id="pmt_EllingtonManagementMember" name="EllingtonManagementMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_DelinquentAmountAtEndOfPeriodOnLoansManagedAndSecuritizedOneHundredAndEightyOrMore" name="DelinquentAmountAtEndOfPeriodOnLoansManagedAndSecuritizedOneHundredAndEightyOrMore" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" abstract="false" xbrli:balance="debit"/>
  <xsd:element id="pmt_MortgageLoansOnRealEstateNumberOfLoansPurchased" name="MortgageLoansOnRealEstateNumberOfLoansPurchased" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="credit"/>
  <xsd:element id="pmt_MortgageLoansAcquiredForSaleMember" name="MortgageLoansAcquiredForSaleMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_NonQualifiedMember" name="NonQualifiedMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_DerivativeAndCreditRiskTransferStripLiabilitiesAtFairValue" name="DerivativeAndCreditRiskTransferStripLiabilitiesAtFairValue" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" abstract="false" xbrli:balance="credit"/>
  <xsd:element id="pmt_FairValueInputsWeightedAverageLifeDuringPeriod" name="FairValueInputsWeightedAverageLifeDuringPeriod" type="xbrli:durationItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false"/>
  <xsd:element id="pmt_BondFuturesMember" name="BondFuturesMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_Interest-OnlyStrippedMember" name="Interest-OnlyStrippedMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_LoanSalesDisclosureTextBlock" name="LoanSalesDisclosureTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false"/>
  <xsd:element id="pmt_UnpaidBalanceOfLoansInReferencePoolsSubjectToCreditRiskTransferSecurities" name="UnpaidBalanceOfLoansInReferencePoolsSubjectToCreditRiskTransferSecurities" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" abstract="false" xbrli:balance="debit"/>
  <xsd:element id="pmt_ScheduleOfDerivativeAndFinancialAssetsBySignificantCounterpartyNotOffsetTableTextBlock" name="ScheduleOfDerivativeAndFinancialAssetsBySignificantCounterpartyNotOffsetTableTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false"/>
  <xsd:element id="pmt_SupplementalNoncashInvestingActivityAbstract" name="SupplementalNoncashInvestingActivityAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_AssetBackedSecurityFinancingsOfVariableInterestEntitiesLiabilityAtFairValue" name="AssetBackedSecurityFinancingsOfVariableInterestEntitiesLiabilityAtFairValue" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" abstract="false" xbrli:balance="credit"/>
  <xsd:element id="pmt_CarryingValueOfCreditRiskTransferAgreementsAbstract" name="CarryingValueOfCreditRiskTransferAgreementsAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_FairValueOptionLoansHeldAsAssetsInForeclosureAggregateDifference" name="FairValueOptionLoansHeldAsAssetsInForeclosureAggregateDifference" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" abstract="false" xbrli:balance="debit"/>
  <xsd:element id="pmt_CarryingValueAbstract" name="CarryingValueAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_LoanFulfillmentFeesPayableToAffiliates" name="LoanFulfillmentFeesPayableToAffiliates" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="debit"/>
  <xsd:element id="pmt_PaymentsToPurchaseMortgageLoansHeldForSaleAffiliates" name="PaymentsToPurchaseMortgageLoansHeldForSaleAffiliates" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="credit"/>
  <xsd:element id="pmt_MetroLifeInsCoMember" name="MetroLifeInsCoMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_PercentageOfPerformanceIncentiveFeePaidInCommonShares" name="PercentageOfPerformanceIncentiveFeePaidInCommonShares" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false"/>
  <xsd:element id="pmt_DelinquentAmountAtEndOfPeriodOnLoansManagedAndSecuritizedThirtyToEightyNineDays" name="DelinquentAmountAtEndOfPeriodOnLoansManagedAndSecuritizedThirtyToEightyNineDays" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" abstract="false" xbrli:balance="debit"/>
  <xsd:element id="pmt_MortgageServicingRightsPledgedToCreditors" name="MortgageServicingRightsPledgedToCreditors" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" abstract="false" xbrli:balance="debit"/>
  <xsd:element id="pmt_FreddieMacMSRFinancingMember" name="FreddieMacMSRFinancingMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_ProceedsFromSaleOfAssetsUnderAgreementsToRepurchase" name="ProceedsFromSaleOfAssetsUnderAgreementsToRepurchase" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="debit"/>
  <xsd:element id="pmt_ProvisionForLossesUnderRepresentationAndWarranties" name="ProvisionForLossesUnderRepresentationAndWarranties" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="credit"/>
  <xsd:element id="pmt_DistributionFromCreditRiskTransferArrangements" name="DistributionFromCreditRiskTransferArrangements" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="debit"/>
  <xsd:element id="pmt_EffectOnValueOfFivePercentageAdverseChangeMember" name="EffectOnValueOfFivePercentageAdverseChangeMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_MeasurementInputUnpaidPrincipalBalanceMember" name="MeasurementInputUnpaidPrincipalBalanceMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_DepositsSecuringCreditRiskTransferArrangements" name="DepositsSecuringCreditRiskTransferArrangements" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" abstract="false" xbrli:balance="debit"/>
  <xsd:element id="pmt_PercentageOfChangeInNetIncomeLoss" name="PercentageOfChangeInNetIncomeLoss" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false"/>
  <xsd:element id="pmt_SummaryOfInvestmentInSubordinateMortgageBackedSecuritiesTableTextBlock" name="SummaryOfInvestmentInSubordinateMortgageBackedSecuritiesTableTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false"/>
  <xsd:element id="pmt_MortgageBackedSecuritiesTable" name="MortgageBackedSecuritiesTable" type="xbrli:stringItemType" substitutionGroup="xbrldt:hypercubeItem" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_PrincipalOnlyStrippedSecuritiesMember" name="PrincipalOnlyStrippedSecuritiesMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_AssetBackedSecuredFinancingLiabilityFairValueMember" name="AssetBackedSecuredFinancingLiabilityFairValueMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_NumberOfCommonSharesHeldByAffiliate" name="NumberOfCommonSharesHeldByAffiliate" type="xbrli:sharesItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" abstract="false"/>
  <xsd:element id="pmt_CashPortionOfLossOnMortgageLoansAcquiredForSaleAbstract" name="CashPortionOfLossOnMortgageLoansAcquiredForSaleAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_FinancialInstrumentsOwnedMortgagesMortgageBackedAndAssetBackedSecuritiesAtFairValueSales" name="FinancialInstrumentsOwnedMortgagesMortgageBackedAndAssetBackedSecuritiesAtFairValueSales" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="credit"/>
  <xsd:element id="pmt_UnsecuredSeniorNotesInterestExpense" name="UnsecuredSeniorNotesInterestExpense" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="debit"/>
  <xsd:element id="pmt_MortgageLoansOnRealEstateNotInForeclosurePrincipalAmountOfDelinquentLoans" name="MortgageLoansOnRealEstateNotInForeclosurePrincipalAmountOfDelinquentLoans" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" abstract="false" xbrli:balance="debit"/>
  <xsd:element id="pmt_PrimeMortgageLoanMember" name="PrimeMortgageLoanMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_NetGainsLossesOnInvestmentsAndFinancings" name="NetGainsLossesOnInvestmentsAndFinancings" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="credit"/>
  <xsd:element id="pmt_UnpaidPrincipalBalanceOfLoansFulfilledByPLS" name="UnpaidPrincipalBalanceOfLoansFulfilledByPLS" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="debit"/>
  <xsd:element id="pmt_TwoThousandAndEighteenFTOneNotesMember" name="TwoThousandAndEighteenFTOneNotesMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_ProvisionsForRepresentationsAndWarrantiesLosses" name="ProvisionsForRepresentationsAndWarrantiesLosses" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="debit"/>
  <xsd:element id="pmt_TwoThousandTwentyEightSeniorNotesMember" name="TwoThousandTwentyEightSeniorNotesMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_ShareBasedCompensationArrangementByShareBasedPaymentAwardAverageRemainingVestingPeriods" name="ShareBasedCompensationArrangementByShareBasedPaymentAwardAverageRemainingVestingPeriods" type="xbrli:durationItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false"/>
  <xsd:element id="pmt_DelinquentAmountAtEndOfPeriodOnLoansManagedAndSecuritizedOneHundredAndEightyOrMoreDaysNotInForeclosure" name="DelinquentAmountAtEndOfPeriodOnLoansManagedAndSecuritizedOneHundredAndEightyOrMoreDaysNotInForeclosure" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" abstract="false" xbrli:balance="debit"/>
  <xsd:element id="pmt_TwentyFiveMayTwoThousandTwentyThreeMember" name="TwentyFiveMayTwoThousandTwentyThreeMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_FairValueOfCreditRiskTransferDerivativesLiabilities" name="FairValueOfCreditRiskTransferDerivativesLiabilities" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" abstract="false" xbrli:balance="credit"/>
  <xsd:element id="pmt_FairValueInputPricingSpreadMember" name="FairValueInputPricingSpreadMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetSalesAndSettlements" name="FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetSalesAndSettlements" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="credit"/>
  <xsd:element id="pmt_PaymentsForRepurchaseOfMortgageLoansAtFairValue" name="PaymentsForRepurchaseOfMortgageLoansAtFairValue" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="credit"/>
  <xsd:element id="pmt_RegulatoryCapitalRatioAmount" name="RegulatoryCapitalRatioAmount" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" abstract="false"/>
  <xsd:element id="pmt_OnePointThreeSevenFivePercentOfStockholdersEquityMember" name="OnePointThreeSevenFivePercentOfStockholdersEquityMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_IncreaseToMaximumPercentageOfOutstandingUnpaidPrincipalBalance" name="IncreaseToMaximumPercentageOfOutstandingUnpaidPrincipalBalance" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false"/>
  <xsd:element id="pmt_NotesPayableMember" name="NotesPayableMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_DerivativeAssetsPledgedToSecureAbstract" name="DerivativeAssetsPledgedToSecureAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_HedgingGainsAndLossesOnMortgageServicingAssetNet" name="HedgingGainsAndLossesOnMortgageServicingAssetNet" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="debit"/>
  <xsd:element id="pmt_GuaranteeObligationsRecourseProvisionUnpaidPrincipalBalanceOfMortgageLoansSubjectToRepresentationsAndWarranties" name="GuaranteeObligationsRecourseProvisionUnpaidPrincipalBalanceOfMortgageLoansSubjectToRepresentationsAndWarranties" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" abstract="false" xbrli:balance="debit"/>
  <xsd:element id="pmt_FairValueInputPrepaymentSpeedMember" name="FairValueInputPrepaymentSpeedMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_UnsecuredNinePointZeroZeroPercentageSeniorNotesMember" name="UnsecuredNinePointZeroZeroPercentageSeniorNotesMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_ScheduleOfKeyUnobservableInputsUsedInValuationOfCreditRiskTransfersTableTextBlock" name="ScheduleOfKeyUnobservableInputsUsedInValuationOfCreditRiskTransfersTableTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false"/>
  <xsd:element id="pmt_AllocatedExpensesAndCostsPayable" name="AllocatedExpensesAndCostsPayable" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" abstract="false" xbrli:balance="credit"/>
  <xsd:element id="pmt_ForwardPurchaseContractMember" name="ForwardPurchaseContractMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_CreditRiskTransferStripsMember" name="CreditRiskTransferStripsMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_SupplementalNonCashFinancingActivitiesAbstract" name="SupplementalNonCashFinancingActivitiesAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_OtherAssetsTable" name="OtherAssetsTable" type="xbrli:stringItemType" substitutionGroup="xbrldt:hypercubeItem" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_SummaryOfMortgageServicingRightsLineItems" name="SummaryOfMortgageServicingRightsLineItems" type="xbrli:stringItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_AssetsSoldUnderAgreementsToRepurchaseMember" name="AssetsSoldUnderAgreementsToRepurchaseMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_MortgageLoanParticipationPurchaseAndSaleAgreementTable" name="MortgageLoanParticipationPurchaseAndSaleAgreementTable" type="xbrli:stringItemType" substitutionGroup="xbrldt:hypercubeItem" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_MSRAtFairValueServiceFeeAnnualRate" name="MSRAtFairValueServiceFeeAnnualRate" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" abstract="false"/>
  <xsd:element id="pmt_RealizedGainsLossesRecognizedOnCreditDefaultSwaps" name="RealizedGainsLossesRecognizedOnCreditDefaultSwaps" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="credit"/>
  <xsd:element id="pmt_DelinquentAmountInCOVID19PandemicRelatedForbearanceAtEndOfPeriodOnLoansManagedAndSecuritizedOneHundredAndEightyOrMoreDaysNotInForeclosure" name="DelinquentAmountInCOVID19PandemicRelatedForbearanceAtEndOfPeriodOnLoansManagedAndSecuritizedOneHundredAndEightyOrMoreDaysNotInForeclosure" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" abstract="false" xbrli:balance="debit"/>
  <xsd:element id="pmt_UnpaidPrincipalBalanceBeforeUnamortizedDebtIssuanceCostsAdjustmentMember" name="UnpaidPrincipalBalanceBeforeUnamortizedDebtIssuanceCostsAdjustmentMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_DerivativeAndCreditRiskTransferStripsAbstract" name="DerivativeAndCreditRiskTransferStripsAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_FreddieMacMsrAndServicingAdvanceReceivablesFinancingMember" name="FreddieMacMsrAndServicingAdvanceReceivablesFinancingMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_RepresentationsAndWarrantiesMember" name="RepresentationsAndWarrantiesMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_SubServicingLoanMember" name="SubServicingLoanMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_FixedRateMortgageLoansMember" name="FixedRateMortgageLoansMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_ProceedsFromSaleOfRealEstateAcquiredInSettlementOfLoans" name="ProceedsFromSaleOfRealEstateAcquiredInSettlementOfLoans" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="debit"/>
  <xsd:element id="pmt_CreditRiskTransferStripsAtFairValueMember" name="CreditRiskTransferStripsAtFairValueMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_OtherRiskMember" name="OtherRiskMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_LeasesCommitmentsAndPurchaseObligationsAbstract" name="LeasesCommitmentsAndPurchaseObligationsAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_GainLossOnInvestmentsAndFinancings" name="GainLossOnInvestmentsAndFinancings" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="credit"/>
  <xsd:element id="pmt_SummaryOfUnpaidBalanceInformationForMortgageLoansUponSaleOfLoansInTransactionsTableTextBlock" name="SummaryOfUnpaidBalanceInformationForMortgageLoansUponSaleOfLoansInTransactionsTableTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false"/>
  <xsd:element id="pmt_DividendsOnPreferredShares" name="DividendsOnPreferredShares" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="debit"/>
  <xsd:element id="pmt_LiquidAssetRequirementForRegulatoryCompliance" name="LiquidAssetRequirementForRegulatoryCompliance" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" abstract="false" xbrli:balance="credit"/>
  <xsd:element id="pmt_CarryingValueOfCreditRiskTransferStripsLiabilities" name="CarryingValueOfCreditRiskTransferStripsLiabilities" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" abstract="false" xbrli:balance="credit"/>
  <xsd:element id="pmt_ScheduleOfInvestmentInMortgageBackedSecuritiesActivityTableTextBlock" name="ScheduleOfInvestmentInMortgageBackedSecuritiesActivityTableTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false"/>
  <xsd:element id="pmt_DebtInstrumentExtendedTerminationDate" name="DebtInstrumentExtendedTerminationDate" type="xbrli:dateItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false"/>
  <xsd:element id="pmt_DocumentAndEntityInformationLineItems" name="DocumentAndEntityInformationLineItems" type="xbrli:stringItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_SecuritiesSoldUnderAgreementsAvailableBorrowingCapacityUncommitted" name="SecuritiesSoldUnderAgreementsAvailableBorrowingCapacityUncommitted" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="credit"/>
  <xsd:element id="pmt_PennymacFinancialServicesIncMember" name="PennymacFinancialServicesIncMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_AverageBalanceDuringPeriodForLoans" name="AverageBalanceDuringPeriodForLoans" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="credit"/>
  <xsd:element id="pmt_ScheduleOfMortgageLoanParticipationAgreementsTableTextBlock" name="ScheduleOfMortgageLoanParticipationAgreementsTableTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false"/>
  <xsd:element id="pmt_FairValueOptionLoansHeldAsAssetsInForeclosureAggregateFairValue" name="FairValueOptionLoansHeldAsAssetsInForeclosureAggregateFairValue" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" abstract="false" xbrli:balance="debit"/>
  <xsd:element id="pmt_CumulativeDividendsFromMarchFifteenTwoThousandTwentyFourAndThereafterMember" name="CumulativeDividendsFromMarchFifteenTwoThousandTwentyFourAndThereafterMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_FairValueOptionLoansHeldAsAssetsNinetyDaysOrLessPastDueAggregateDifference" name="FairValueOptionLoansHeldAsAssetsNinetyDaysOrLessPastDueAggregateDifference" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" abstract="false" xbrli:balance="debit"/>
  <xsd:element id="pmt_AssetsSoldUnderAgreementsAvailableBorrowingCapacityCommitted" name="AssetsSoldUnderAgreementsAvailableBorrowingCapacityCommitted" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="credit"/>
  <xsd:element id="pmt_InterestExpenseOnMortgageLoansServicedForAgencySecuritizations" name="InterestExpenseOnMortgageLoansServicedForAgencySecuritizations" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="debit"/>
  <xsd:element id="pmt_DaiwaCapitalMarketsAmericaIncMember" name="DaiwaCapitalMarketsAmericaIncMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_MortgageLoansAcquiredForSaleAtFairValueMember" name="MortgageLoansAcquiredForSaleAtFairValueMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_PNMACCapitalManagementLLCMember" name="PNMACCapitalManagementLLCMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_StockRepurchaseProgramCostOfCumulativeSharesRepurchased" name="StockRepurchaseProgramCostOfCumulativeSharesRepurchased" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" abstract="false" xbrli:balance="credit"/>
  <xsd:element id="pmt_SecuritiesSoldUnderAgreementsAvailableBorrowingCapacity" name="SecuritiesSoldUnderAgreementsAvailableBorrowingCapacity" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="credit"/>
  <xsd:element id="pmt_DelinquentAmountAtEndOfPeriodOnLoansManagedAndSecuritizedNinetyDaysOrMoreInForeclosure" name="DelinquentAmountAtEndOfPeriodOnLoansManagedAndSecuritizedNinetyDaysOrMoreInForeclosure" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" abstract="false" xbrli:balance="debit"/>
  <xsd:element id="pmt_MorganStanleyCoLLCMember" name="MorganStanleyCoLLCMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_GregHendryMember" name="GregHendryMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_MarginDepositsPlacedWithCounterParties" name="MarginDepositsPlacedWithCounterParties" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" abstract="false" xbrli:balance="debit"/>
  <xsd:element id="pmt_ScheduleOfAggregationAndSecuritizationActivitiesAffiliateTableTextBlock" name="ScheduleOfAggregationAndSecuritizationActivitiesAffiliateTableTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false"/>
  <xsd:element id="pmt_LoansHeldForInvestmentAtFairValueMember" name="LoansHeldForInvestmentAtFairValueMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_EstimatedLoansAtFairValueOfCashFlowsValuationDiscountedAnnualRate" name="EstimatedLoansAtFairValueOfCashFlowsValuationDiscountedAnnualRate" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false"/>
  <xsd:element id="pmt_MortgageLoanParticipationPurchaseAndSaleAgreementObligationsAmount" name="MortgageLoanParticipationPurchaseAndSaleAgreementObligationsAmount" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" abstract="false" xbrli:balance="credit"/>
  <xsd:element id="pmt_GainLossRecognizedOnCreditRiskTransferStrips" name="GainLossRecognizedOnCreditRiskTransferStrips" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="credit"/>
  <xsd:element id="pmt_ChangeInFairValueOfMortgageLoansAndRelatedHedgingInstrumentsAbstract" name="ChangeInFairValueOfMortgageLoansAndRelatedHedgingInstrumentsAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_MortgageLoansOnRealEstatePrincipalAmountOfDelinquentLoansLessThanNinetyDays" name="MortgageLoansOnRealEstatePrincipalAmountOfDelinquentLoansLessThanNinetyDays" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" abstract="false" xbrli:balance="debit"/>
  <xsd:element id="pmt_DerivativeAndCreditRiskTransferStripAssetsPledgedToCreditors" name="DerivativeAndCreditRiskTransferStripAssetsPledgedToCreditors" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" abstract="false" xbrli:balance="debit"/>
  <xsd:element id="pmt_InterestOnlySecurityPayableMember" name="InterestOnlySecurityPayableMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_MortgageLoansAtFairValueDisclosureTextBlock" name="MortgageLoansAtFairValueDisclosureTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false"/>
  <xsd:element id="pmt_UnpaidPrincipalBalanceOfDelinquentMortgageLoansAbstract" name="UnpaidPrincipalBalanceOfDelinquentMortgageLoansAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_MeasurementInputVoluntaryPrepaymentSpeedMember" name="MeasurementInputVoluntaryPrepaymentSpeedMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_MortgageBackedSecuritiesLineItems" name="MortgageBackedSecuritiesLineItems" type="xbrli:stringItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_FreddieMacCreditAgreementsMember" name="FreddieMacCreditAgreementsMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_FinancialInstrumentsOwnedMortgagesMortgageBackedAndAssetBackedSecuritiesValuationAdjustmentsNet" name="FinancialInstrumentsOwnedMortgagesMortgageBackedAndAssetBackedSecuritiesValuationAdjustmentsNet" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="credit"/>
  <xsd:element id="pmt_ExchangeableSeniorNotesAndTwoThousandTwentyThreeSeniorNotesMember" name="ExchangeableSeniorNotesAndTwoThousandTwentyThreeSeniorNotesMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_FeesAndCommissionsMortgageBankingAndServicingMember" name="FeesAndCommissionsMortgageBankingAndServicingMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_SourcingFeeOnUnpaidPrincipalBalance" name="SourcingFeeOnUnpaidPrincipalBalance" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false"/>
  <xsd:element id="pmt_ScheduleOfExpensesRelatedToTransactionWithAffiliateTableTextBlock" name="ScheduleOfExpensesRelatedToTransactionWithAffiliateTableTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false"/>
  <xsd:element id="pmt_DelinquentAmountInCOVID19PandemicRelatedForbearanceAtEndOfPeriodOnLoansManagedAndSecuritizedThirtyToEightyNineDays" name="DelinquentAmountInCOVID19PandemicRelatedForbearanceAtEndOfPeriodOnLoansManagedAndSecuritizedThirtyToEightyNineDays" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" abstract="false" xbrli:balance="debit"/>
  <xsd:element id="pmt_OtherAssetsLineItems" name="OtherAssetsLineItems" type="xbrli:stringItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_ElevenJuneTwoThousandNineteenMember" name="ElevenJuneTwoThousandNineteenMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_ScheduleOfRelatedPartyTransactionsBaseManagementAndPerformanceIncentiveFeesEarnedTableTextBlock" name="ScheduleOfRelatedPartyTransactionsBaseManagementAndPerformanceIncentiveFeesEarnedTableTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false"/>
  <xsd:element id="pmt_MarginDepositAssetsLiabilities" name="MarginDepositAssetsLiabilities" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" abstract="false" xbrli:balance="debit"/>
  <xsd:element id="pmt_SecurititesInterestOnlyStrippedMeasurementInput" name="SecurititesInterestOnlyStrippedMeasurementInput" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" abstract="false"/>
  <xsd:element id="pmt_ExchangeableSeniorNotesMember" name="ExchangeableSeniorNotesMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_FederalNationalMortgageAssociationAndFederalHomeLoanMortgageCorporationMember" name="FederalNationalMortgageAssociationAndFederalHomeLoanMortgageCorporationMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_ScheduleOfSecuredNotePayableOfCreditRiskTransferAndMortgageServicingRightsTableTextBlock" name="ScheduleOfSecuredNotePayableOfCreditRiskTransferAndMortgageServicingRightsTableTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false"/>
  <xsd:element id="pmt_DebtInstrumentExtendedMaturityDateSubjectToTermNoteIndenture" name="DebtInstrumentExtendedMaturityDateSubjectToTermNoteIndenture" type="xbrli:dateItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false"/>
  <xsd:element id="pmt_MortgageLoanMember" name="MortgageLoanMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_SantanderUsCapitalMember" name="SantanderUsCapitalMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_ResidentialTransitionLoansMember" name="ResidentialTransitionLoansMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_MortgageServiceRightsMember" name="MortgageServiceRightsMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_PledgedAssetsSeparatelyReportedLoanPledgedAsCollateralAtFairValue" name="PledgedAssetsSeparatelyReportedLoanPledgedAsCollateralAtFairValue" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" abstract="false" xbrli:balance="debit"/>
  <xsd:element id="pmt_RjBrienAssociatesLlcMember" name="RjBrienAssociatesLlcMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_MortgageServicingRightsDisclosureTextBlock" name="MortgageServicingRightsDisclosureTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false"/>
  <xsd:element id="pmt_InterestExpenseMortgageLoanParticipationPurchaseAndSaleAgreement" name="InterestExpenseMortgageLoanParticipationPurchaseAndSaleAgreement" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="debit"/>
  <xsd:element id="pmt_GainLossOnLoansHeldForInvestment" name="GainLossOnLoansHeldForInvestment" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="credit"/>
  <xsd:element id="pmt_MortgageLoansHeldForInvestmentMember" name="MortgageLoansHeldForInvestmentMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_ScheduleOfNetGainLossOnMortgageLoansAcquiredForSaleTableTextBlock" name="ScheduleOfNetGainLossOnMortgageLoansAcquiredForSaleTableTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false"/>
  <xsd:element id="pmt_PeriodEndAbstract" name="PeriodEndAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_ServicingAssetAtFairValueAdditionsFromLoanSales" name="ServicingAssetAtFairValueAdditionsFromLoanSales" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="debit"/>
  <xsd:element id="pmt_CitibankMember" name="CitibankMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodGrantDateFairValue" name="ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodGrantDateFairValue" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="debit"/>
  <xsd:element id="pmt_OnePointTwoFivePercentOfStockholdersEquityMember" name="OnePointTwoFivePercentOfStockholdersEquityMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_SecuritiesRetainedInAssetBackedFinancingsMember" name="SecuritiesRetainedInAssetBackedFinancingsMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_NetGainOnMortgageLoansAcquiredForSaleDisclosureTextBlock" name="NetGainOnMortgageLoansAcquiredForSaleDisclosureTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false"/>
  <xsd:element id="pmt_OtherPledgedToCreditors" name="OtherPledgedToCreditors" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" abstract="false" xbrli:balance="debit"/>
  <xsd:element id="pmt_LoansAndMSRsSoldUnderAgreementsToRepurchaseMember" name="LoansAndMSRsSoldUnderAgreementsToRepurchaseMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_DelinquentAmountAtEndOfPeriodOnLoansManagedAndSecuritizedNinetyDaysOrMoreNotInForeclosure" name="DelinquentAmountAtEndOfPeriodOnLoansManagedAndSecuritizedNinetyDaysOrMoreNotInForeclosure" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" abstract="false" xbrli:balance="debit"/>
  <xsd:element id="pmt_InterestRateSensitiveStrategiesMember" name="InterestRateSensitiveStrategiesMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_TwentyTwentyMBSAgreementRenewedAndAmendedMember" name="TwentyTwentyMBSAgreementRenewedAndAmendedMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_DerivativeAssetsRelatedToCreditRiskTransferDerivativesMember" name="DerivativeAssetsRelatedToCreditRiskTransferDerivativesMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_BaseManagementFeeShareholdersEquityLimit" name="BaseManagementFeeShareholdersEquityLimit" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" abstract="false" xbrli:balance="credit"/>
  <xsd:element id="pmt_CallOptionsOnInterestRateFuturesSellContractsMember" name="CallOptionsOnInterestRateFuturesSellContractsMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_UnpaidBalanceMortgageLoansSoldWithContinuingInvolvementDelinquentNinetyDaysOrMoreAbstract" name="UnpaidBalanceMortgageLoansSoldWithContinuingInvolvementDelinquentNinetyDaysOrMoreAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_TwentyTwentyMBSAgreementMember" name="TwentyTwentyMBSAgreementMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_InterestEarnedOnDepositsSecuringCreditRiskTransferAgreements" name="InterestEarnedOnDepositsSecuringCreditRiskTransferAgreements" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="credit"/>
  <xsd:element id="pmt_RecognitionOfAssetBackedFinancingsResultingFromInitialConsolidationOfVariableInterestEntity" name="RecognitionOfAssetBackedFinancingsResultingFromInitialConsolidationOfVariableInterestEntity" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="credit"/>
  <xsd:element id="pmt_AggregateCashGainLossOnSaleOfMortgageLoansAcquiredForSaleNetOfCashHedgingResults" name="AggregateCashGainLossOnSaleOfMortgageLoansAcquiredForSaleNetOfCashHedgingResults" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="credit"/>
  <xsd:element id="pmt_TerminationFeesDescription" name="TerminationFeesDescription" type="xbrli:stringItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false"/>
  <xsd:element id="pmt_FifteenthDecemberTwentyTwentyFiveMember" name="FifteenthDecemberTwentyTwentyFiveMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_MaturityOneEightZeroDaysToOneYearMember" name="MaturityOneEightZeroDaysToOneYearMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_NotesPayableGross" name="NotesPayableGross" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" abstract="false" xbrli:balance="credit"/>
  <xsd:element id="pmt_InterestIncomeExpenseOther" name="InterestIncomeExpenseOther" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="credit"/>
  <xsd:element id="pmt_ChangeInFairValueOfInterestOnlySecurityPayableAtFairValueValuationChanges" name="ChangeInFairValueOfInterestOnlySecurityPayableAtFairValueValuationChanges" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="credit"/>
  <xsd:element id="pmt_GainsLossesRecognizedOnCreditRiskTransferStripsValuationChanges" name="GainsLossesRecognizedOnCreditRiskTransferStripsValuationChanges" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="credit"/>
  <xsd:element id="pmt_MortgageLoansAtFairValueMember" name="MortgageLoansAtFairValueMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisCapitalizationOfInterestAndFees" name="FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisCapitalizationOfInterestAndFees" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="debit"/>
  <xsd:element id="pmt_UnpaidBalanceOfMortgageLoansSubjectToCreditGuaranteeOnCreditRiskTransferAgreementsDelinquentForeclosure" name="UnpaidBalanceOfMortgageLoansSubjectToCreditGuaranteeOnCreditRiskTransferAgreementsDelinquentForeclosure" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" abstract="false" xbrli:balance="debit"/>
  <xsd:element id="pmt_MsrRecaptureFees" name="MsrRecaptureFees" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="credit"/>
  <xsd:element id="pmt_InterestRateLockCommitmentsAndLoansHeldForSaleMember" name="InterestRateLockCommitmentsAndLoansHeldForSaleMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_PutOptionsOnInterestRateFuturesPurchaseContractsMember" name="PutOptionsOnInterestRateFuturesPurchaseContractsMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_BarclaysCapitalIncMember" name="BarclaysCapitalIncMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_FairValueInputsAnnualPrepaymentSpeed" name="FairValueInputsAnnualPrepaymentSpeed" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" abstract="false"/>
  <xsd:element id="pmt_DepositsSecuringCreditRiskTransfersPledgedToCreditors" name="DepositsSecuringCreditRiskTransfersPledgedToCreditors" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="credit"/>
  <xsd:element id="pmt_AverageShareholdersEquityAmountsUsedToCalculateManagementFeeExpense" name="AverageShareholdersEquityAmountsUsedToCalculateManagementFeeExpense" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="credit"/>
  <xsd:element id="pmt_NetIncomeExceedsTwentyPercentageMember" name="NetIncomeExceedsTwentyPercentageMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="pmt_InterestExpenseNotesPayableSecuredByCreditRiskTransferAndMortgageServicingAssets" name="InterestExpenseNotesPayableSecuredByCreditRiskTransferAndMortgageServicingAssets" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="debit"/>
</xsd:schema>
