v3.26.1
Loan Sales and Servicing Activities (Tables)
3 Months Ended
Mar. 31, 2026
Loan Sales and Servicing Activities  
Summary of cash flows between the Company and transferees upon sale of loans in transactions

Quarter ended March 31, 

  ​ ​ ​

2026

  ​ ​ ​

2025

(in thousands)

Cash flows:

  ​ ​

  ​ ​

Sales proceeds

$

32,611,319

$

27,587,429

Servicing fees received

$

428,237

$

396,232

Summary of sale of loans between the Company and transferees upon sale of loans in transactions

March 31, 

December 31,

  ​ ​ ​

2026

  ​ ​

2025

(in thousands)

Unpaid principal balance of loans outstanding

$

460,361,759

$

448,035,447

Delinquent loans:

30-89 days

$

14,850,730

$

18,000,680

90 days or more:

Not in foreclosure

$

11,561,042

$

9,759,483

In foreclosure

$

1,616,694

$

1,372,545

Foreclosed

$

4,583

$

4,076

Loans in bankruptcy

$

2,082,955

$

1,968,188

Summary of servicing portfolio

March 31, 2026

Servicing

Total

  ​ ​ ​

rights owned

  ​ ​ ​

Subservicing

  ​ ​ ​

loans serviced

(in thousands)

Investor:

Non-affiliated entities:

  ​ ​ ​

Originated

$

460,361,759

  ​ ​ ​

$

  ​ ​ ​

$

460,361,759

Purchased

13,633,606

13,633,606

Subserviced

11,413,998

11,413,998

473,995,365

11,413,998

485,409,363

PennyMac Mortgage Investment Trust

225,093,530

225,093,530

Loans held for sale

9,821,486

9,821,486

$

483,816,851

$

236,507,528

$

720,324,379

Delinquent loans:

30 days

$

11,197,038

$

1,898,851

$

13,095,889

60 days

4,131,164

540,380

4,671,544

90 days or more:

Not in foreclosure

11,755,298

1,045,822

12,801,120

In foreclosure

1,669,223

144,107

1,813,330

Foreclosed

6,229

2,583

8,812

$

28,758,952

$

3,631,743

$

32,390,695

Loans in bankruptcy

$

2,152,337

$

377,461

$

2,529,798

Custodial funds managed by the Company (1)

$

10,117,440

$

3,125,558

$

13,242,998

(1)Custodial funds include cash accounts holding funds on behalf of borrowers and investors relating to loans serviced under servicing agreements and are not recorded on the Company’s consolidated balance sheets. The Company earns placement fees on certain of these custodial funds where it owns the MSRs and these fees are included in Interest income in the Company’s consolidated statements of income.

December 31, 2025

Servicing

Total

  ​ ​ ​

rights owned

  ​ ​ ​

Subservicing

  ​ ​ ​

loans serviced

(in thousands)

Investor:

Non-affiliated entities:

Originated

$

448,035,447

  ​ ​ ​

$

  ​ ​ ​

$

448,035,447

Purchased

13,999,998

13,999,998

Subserviced (1)

35,873,833

35,873,833

462,035,445

35,873,833

497,909,278

PennyMac Mortgage Investment Trust

226,774,067

226,774,067

Loans held for sale

8,930,477

8,930,477

$

470,965,922

$

262,647,900

$

733,613,822

Delinquent loans:

30 days

$

13,205,704

$

3,056,477

$

16,262,181

60 days

5,357,188

962,007

6,319,195

90 days or more:

Not in foreclosure

9,944,189

1,734,551

11,678,740

In foreclosure

1,414,544

184,343

1,598,887

Foreclosed

6,229

3,121

9,350

$

29,927,854

$

5,940,499

$

35,868,353

Loans in bankruptcy

$

2,039,686

$

566,890

$

2,606,576

Custodial funds managed by the Company (2)

$

8,429,523

$

2,758,179

$

11,187,702

(1)Includes $24.3 billion in UPB of loans where MSRs have been sold, but the servicing has not yet transferred to the purchaser’s servicing platform.
(2)Custodial funds include cash accounts holding funds on behalf of borrowers and investors relating to loans serviced under servicing agreements and are not recorded on the Company’s consolidated balance sheets. The Company earns placement fees on certain of these custodial funds where it owns the MSRs and these fees are included in Interest income in the Company’s consolidated statements of income.
Summary of the geographical distribution of loans for the top five and all other states as measured by the total unpaid principal balance (UPB)

March 31, 

December 31, 

State

  ​ ​ ​

2026

  ​ ​ ​

2025

(in thousands)

California

$

81,899,842

$

83,261,751

Texas

72,914,367

73,599,588

Florida

68,453,274

69,872,447

Virginia

36,433,902

38,282,502

Georgia

29,727,189

30,528,228

All other states

430,895,805

438,069,306

$

720,324,379

$

733,613,822

Summary of the allowance for losses

Quarter ended March 31, 

2026

2025

(in thousands)

Balance at beginning of quarter

$

103,574

$

85,788

Provision for losses

19,962

4,184

Charge-offs, net

(7,484)

(7,817)

Balance at end of quarter

$

116,052

$

82,155