PennyMac Financial Services, Inc.

For the period ended Sep 30, 2025. Filed Oct 28, 2025.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Sep 30, 2025 · Filed Oct 28, 2025

PFSI$62.85-5.4%Stored close · as of Nov 10, 2026

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Contents

Consolidated Statements of Income

CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)


· · Quarter ended September 30, · Nine months ended September 30,
· · 2025 · · 2024 · 2025 · · 2024
			(in thousands, except earnings per share)
Revenues
Net gains on loans held for sale at fair value:
From non-affiliates	$297,001	$254,313		$740,784	$593,644
From PennyMac Mortgage Investment Trust	17,454	2,506		29,367	1,680
	314,455	256,819		770,151	595,324
Loan origination fees:
From non-affiliates	61,138	48,323		165,861	125,979
From PennyMac Mortgage Investment Trust	558	1,107		1,537	1,897
	61,696	49,430		167,398	127,876
Fulfillment fees from PennyMac Mortgage Investment Trust	6,162	11,492		17,266	19,935
Net loan servicing fees:
Loan servicing fees:
From non-affiliates	460,360	393,457		1,313,564	1,126,523
From PennyMac Mortgage Investment Trust	21,012	22,240		64,386	62,766
Other	53,734	46,340		152,291	137,628
	535,106	462,037		1,530,241	1,326,917
Change in fair value of mortgage servicing rights and mortgage servicing liabilities	(392,174)	(628,258)		(1,070,300)	(758,158)
Mortgage servicing rights hedging results	98,306	242,051		95,978	(224,371)
	(293,868)	(386,207)		(974,322)	(982,529)
Net loan servicing fees	241,238	75,830		555,919	344,388
Management fees from PennyMac Mortgage Investment Trust	6,912	7,153		20,793	21,474
Net interest (expense) income:
Interest income	248,753	225,470		660,553	582,707
Interest expense	249,900	217,597		697,559	591,237
Net interest (expense) income	(1,147)	7,873		(37,006)	(8,530)
Results of real estate acquired in settlement of loans	(981)	(269)		(1,159)	330
Change in fair value of investment in and dividends received from PennyMac Mortgage Investment Trust	(15)	68		65	38
Repricing of payable to exchanged Private National Mortgage Acceptance Company, LLC unitholders under tax receivable agreement	—	—		1,092	—
Other	4,578	3,438		14,012	22,786
Total net revenues	632,898	411,834		1,508,531	1,123,621
Expenses
Compensation	205,314	171,316		574,843	459,648
Loan origination	69,407	45,208		182,339	116,046
Technology	44,772	37,059		127,226	108,716
Servicing	29,105	28,885		79,266	67,909
Marketing and advertising	14,016	5,088		35,837	14,204
Professional services	10,145	9,339		27,562	28,005
Occupancy and equipment	8,604	8,156		25,365	24,725
Other	15,161	12,858		39,081	32,706
Total expenses	396,524	317,909		1,091,519	851,959
Income before provision for income taxes	236,374	93,925		417,012	271,662
Provision for income taxes	54,871	24,557		22,766	64,728
Net income	$181,503	$69,368		$394,246	$206,934
Earnings per share
Basic	$3.51	$1.36		$7.64	$4.07
Diluted	$3.37	$1.30		$7.34	$3.88
Weighted average shares outstanding
Basic	51,730	51,180		51,635	50,895
Diluted	53,879	53,495		53,734	53,274

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.