v3.26.1
Loan Sales and Servicing Activities (Tables)
6 Months Ended
Jun. 30, 2026
Loan Sales and Servicing Activities  
Summary of cash flows between the Company and transferees upon sale of loans in transactions

Quarter ended June 30, 

Six months ended June 30, 

  ​ ​ ​

2026

  ​ ​ ​

2025

  ​ ​ ​

2026

  ​ ​ ​

2025

(in thousands)

Cash flows:

  ​ ​

  ​ ​

  ​ ​

Sales proceeds

$

33,380,053

$

34,656,042

$

65,991,372

$

62,243,471

Servicing fees received

$

441,411

$

411,531

$

869,648

$

807,763

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

June 30, 

December 31,

  ​ ​ ​

 

2026

  ​ ​

2025

(in thousands)

Unpaid principal balance of loans outstanding

$

474,869,927

$

448,035,447

Delinquent loans:

30-89 days

$

16,250,037

$

18,000,680

90 days or more:

Not in foreclosure

$

11,405,544

$

9,759,483

In foreclosure

$

1,688,442

$

1,372,545

Foreclosed

$

4,261

$

4,076

Loans in bankruptcy

$

2,243,332

$

1,968,188

Summary of servicing portfolio

June 30, 2026

Servicing

Total

  ​ ​ ​

rights owned

  ​ ​ ​

Subservicing

  ​ ​ ​

loans serviced

(in thousands)

Investor:

Non-affiliated entities:

  ​ ​ ​

Originated

$

474,869,927

  ​ ​ ​

$

  ​ ​ ​

$

474,869,927

Purchased

13,227,690

13,227,690

Subserviced

11,496,726

11,496,726

488,097,617

11,496,726

499,594,343

PennyMac Mortgage Investment Trust

223,817,562

223,817,562

Loans held for sale

7,656,960

7,656,960

$

495,754,577

$

235,314,288

$

731,068,865

Delinquent loans:

30 days

$

12,441,803

$

2,041,966

$

14,483,769

60 days

4,312,123

532,843

4,844,966

90 days or more:

Not in foreclosure

11,597,418

1,014,276

12,611,694

In foreclosure

1,735,539

150,461

1,886,000

Foreclosed

6,514

2,334

8,848

$

30,093,397

$

3,741,880

$

33,835,277

Loans in bankruptcy

$

2,315,299

$

405,233

$

2,720,532

Custodial funds managed by the Company (1)

$

9,023,091

$

3,287,288

$

12,310,379

(1)Custodial funds include cash accounts holding funds on behalf of borrowers and investors relating to loans serviced under servicing agreements and are not included 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 included 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)

June 30, 

December 31, 

State

  ​ ​ ​

2026

  ​ ​ ​

2025

(in thousands)

California

$

83,269,801

$

83,261,751

Texas

74,356,693

73,599,588

Florida

69,506,106

69,872,447

Virginia

36,773,044

38,282,502

Georgia

30,106,991

30,528,228

All other states

437,056,230

438,069,306

$

731,068,865

$

733,613,822

Summary of the allowance for losses

Quarter ended June 30, 

Six months ended June 30, 

2026

2025

  ​

2026

2025

(in thousands)

Balance at beginning of period

$

116,052

$

82,155

$

103,574

$

85,788

Provision for losses

25,059

7,786

45,021

11,970

Charge-offs, net

(12,207)

(7,916)

(19,691)

(15,733)

Balance at end of period

$

128,904

$

82,025

$

128,904

$

82,025