PennyMac Financial Services, Inc.
For the period ended Dec 31, 2025. Filed Feb 20, 2026.
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FY2025 · Filed Feb 20, 2026
PFSI$66.44+1.3%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Balance Sheets
| | | | | | | |
|---|---|---|---|---|---|---|
| · · December 31, | ||||||
| · · 2025 · · 2024 | ||||||
| | | (in thousands, except share amounts) | ||||
| ASSETS | | | | | | |
| Cash | | $301,680 | | $238,482 | ||
| Short-term investment at fair value | | | 410,037 | | | 420,553 |
| Principal-only stripped mortgage-backed securities at fair value pledged to creditors | | | 722,528 | | | 825,865 |
| Loans held for sale at fair value (includes $8,983,503 and $8,140,834 pledged to creditors) | | | 9,123,410 | | | 8,217,468 |
| Derivative assets from non-affiliates | | | 185,518 | | | 113,076 |
| Derivative assets from PennyMac Mortgage Investment Trust | | | 2,257 | | | — |
| Servicing advances, net (includes valuation allowance of $103,574 and $85,788; $406,825 and $357,939 pledged to creditors) | | | 589,542 | | | 568,512 |
| Mortgage servicing rights at fair value (includes $9,367,851 and $8,609,388 pledged to creditors) | | | 9,598,941 | | | 8,744,528 |
| Investment in PennyMac Mortgage Investment Trust at fair value | | | 941 | | | 944 |
| Receivable from PennyMac Mortgage Investment Trust | | | 17,122 | | | 30,206 |
| Loans eligible for repurchase | | | 7,409,800 | | | 6,157,172 |
| Other (includes $10,393 and $16,697 pledged to creditors) | | | 1,026,913 | | | 770,081 |
| Total assets | | $29,388,689 | | $26,086,887 | ||
| LIABILITIES | | | | | | |
| Assets sold under agreements to repurchase | | $8,794,002 | | $8,685,207 | ||
| Mortgage loan participation purchase and sale agreements | | | 696,618 | | | 496,512 |
| Notes payable secured by mortgage servicing assets | | | 1,326,021 | | | 2,048,972 |
| Unsecured senior notes | | | 4,831,742 | | | 3,164,032 |
| Derivative liabilities to non-affiliates | | | 9,559 | | | 40,900 |
| Derivative liabilities to PennyMac Mortgage Investment Trust | | | 6,247 | | | — |
| Mortgage servicing liabilities at fair value | | | 1,572 | | | 1,683 |
| Accounts payable and accrued expenses | | | 643,896 | | | 354,414 |
| Payable to PennyMac Mortgage Investment Trust | | | 116,585 | | | 122,317 |
| Payable to exchanged Private National Mortgage Acceptance Company, LLC unitholders under tax receivable agreement | | | 24,757 | | | 25,898 |
| Income taxes payable | | | 1,184,020 | | | 1,131,000 |
| Liability for loans eligible for repurchase | | | 7,409,800 | | | 6,157,172 |
| Liability for losses under representations and warranties | | | 34,894 | | | 29,129 |
| Total liabilities | | | 25,079,713 | | | 22,257,236 |
| | | | | | | |
| Commitments and contingencies – Note 19 | | | | | | |
| | | | | | | |
| STOCKHOLDERS’ EQUITY | | | | | | |
| Common stock—authorized 200,000,000 shares of $0.0001 par value; issued and outstanding, 52,061,346 and 51,376,616 shares, respectively | | | 5 | | | 5 |
| Additional paid-in capital | | | 96,870 | | | 56,072 |
| Retained earnings | | | 4,212,101 | | | 3,773,574 |
| Total stockholders' equity | | | 4,308,976 | | | 3,829,651 |
| Total liabilities and stockholders' equity | | $29,388,689 | | $26,086,887 | ||
| | | | | | | |
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