PennyMac Financial Services Inc

For the period ended Dec 31, 2024. Filed Feb 19, 2025.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2024 · Filed Feb 19, 2025

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

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Consolidated Statements of Income


	Year ended December 31,
· 2024 · 2023 · 2022
· (in thousands, except earnings per share)
Revenues
Net gains on loans held for sale at fair value:
From non-affiliates		$813,301	$547,727	$808,197
From PennyMac Mortgage Investment Trust		4,067	(1,784)	(16,564)
		817,368	545,943	791,633
Loan origination fees:
From non-affiliates		183,197	142,902	161,441
From PennyMac Mortgage Investment Trust		2,503	3,216	8,418
		185,700	146,118	169,859
Fulfillment fees from PennyMac Mortgage Investment Trust		26,291	27,826	67,991
Net loan servicing fees:
Loan servicing fees:
From non-affiliates		1,529,452	1,268,650	1,054,828
From PennyMac Mortgage Investment Trust		83,252	81,347	81,915
Other		186,776	134,949	91,894
		1,799,480	1,484,946	1,228,637
Change in fair value of mortgage servicing rights and mortgage servicing liabilities		(433,342)	(605,568)	354,176
Mortgage servicing rights hedging results		(832,483)	(236,778)	(631,484)
		(1,265,825)	(842,346)	(277,308)
Net loan servicing fees		533,655	642,600	951,329
Management fees from PennyMac Mortgage Investment Trust		28,623	28,762	31,065
Net interest expense:
Interest income		793,566	632,924	294,062
Interest expense		819,348	637,777	335,427
Net interest expense:		(25,782)	(4,853)	(41,365)
Change in fair value of investment in and dividends received from PennyMac Mortgage Investment Trust		(57)	312	(235)
Results of real estate acquired in settlement of loans		864	1,545	2,510
Repricing of payable to exchanged Private National Mortgage Acceptance Company, LLC unitholders under tax receivable agreement		201	—	576
Other		26,868	13,403	12,392
Total net revenues		1,593,731	1,401,656	1,985,755
Expenses
Compensation		632,738	576,964	735,231
Loan origination		164,092	114,500	173,622
Technology		149,547	143,152	139,950
Servicing		105,997	69,433	59,628
Professional services		37,992	60,521	73,270
Occupancy and equipment		32,898	36,558	40,124
Marketing and advertising		21,969	17,631	46,762
Legal settlements		1,591	162,770	4,649
Other		45,881	36,496	47,272
Total expenses		1,192,705	1,218,025	1,320,508
Income before provision for income taxes		401,026	183,631	665,247
Provision for income taxes		89,603	38,975	189,740
Net income		$311,423	$144,656	$475,507
Earnings per share
Basic		$6.11	$2.89	$8.96
Diluted		$5.84	$2.74	$8.50
Weighted average shares outstanding
Basic		50,990	49,978	53,065
Diluted		53,356	52,733	55,950

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.