2015 Q4 Form 10-K Financial Statement

#000119312516484507 Filed on February 29, 2016

View on sec.gov

Income Statement

Concept 2015 Q4 2015 2014 Q4
Revenue $50.57M $248.8M $53.06M
YoY Change -4.69% -30.27% -44.78%
Cost Of Revenue $72.30M $264.3M $53.70M
YoY Change 34.64% 19.11% 2.29%
Gross Profit $9.800M $109.1M $21.30M
YoY Change -53.99% -50.52% -66.67%
Gross Profit Margin 19.38% 43.86% 40.14%
Selling, General & Admin $3.700M $14.70M $3.700M
YoY Change 0.0% -11.98% -19.57%
% of Gross Profit 37.76% 13.47% 17.37%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $2.800M $175.5M $9.300M
YoY Change -69.89% -1.02% 1.09%
Operating Profit $7.000M -$66.36M $12.00M
YoY Change -41.67% -253.53% -78.06%
Interest Expense $124.7M
YoY Change 45.71%
% of Operating Profit
Other Income/Expense, Net $15.87M
YoY Change 7.48%
Pretax Income $6.900M $73.30M $11.90M
YoY Change -42.02% -59.15% -78.24%
Income Tax -$8.800M -$16.80M -$14.60M
% Of Pretax Income -127.54% -22.91% -122.69%
Net Earnings $15.71M $90.10M $26.51M
YoY Change -40.75% -53.69% -49.69%
Net Earnings / Revenue 31.06% 36.22% 49.97%
Basic Earnings Per Share $0.21 $1.19 $0.35
Diluted Earnings Per Share $0.21 $1.16 $0.34
COMMON SHARES
Basic Shares Outstanding 73.77M shares 74.45M 74.14M shares
Diluted Shares Outstanding 83.34M

Balance Sheet

Concept 2015 Q4 2015 2014 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $58.00M $58.00M $76.00M
YoY Change -23.68% -23.68% 181.48%
Cash & Equivalents $58.11M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $155.0M $155.0M $162.0M
YoY Change -4.32% -4.32% 74.19%
LONG-TERM ASSETS
Property, Plant & Equipment $9.000M $9.000M $0.00
YoY Change -100.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $0.00 $777.0M $0.00
YoY Change 21.79%
Other Assets
YoY Change
Total Long-Term Assets $5.672B $5.672B $4.735B
YoY Change 19.78% 19.79% 12.46%
TOTAL ASSETS
Total Short-Term Assets $155.0M $155.0M $162.0M
Total Long-Term Assets $5.672B $5.672B $4.735B
Total Assets $5.827B $5.827B $4.897B
YoY Change 18.98% 18.99% 13.8%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $19.00M $19.00M $24.00M
YoY Change -20.83% -20.83% 26.32%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $150.0M $150.0M $0.00
YoY Change -100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $386.0M $431.0M $75.00M
YoY Change 414.67% 474.67% -95.84%
LONG-TERM LIABILITIES
Long-Term Debt $729.0M $729.0M $430.0M
YoY Change 69.53% 69.53% -55.11%
Other Long-Term Liabilities $3.152B $3.152B $2.746B
YoY Change 14.79% 14.79% 22783.33%
Total Long-Term Liabilities $3.881B $3.881B $3.176B
YoY Change 22.2% 22.2% 227.42%
TOTAL LIABILITIES
Total Short-Term Liabilities $386.0M $431.0M $75.00M
Total Long-Term Liabilities $3.881B $3.881B $3.176B
Total Liabilities $4.331B $4.331B $3.319B
YoY Change 30.48% 30.49% 16.71%
SHAREHOLDERS EQUITY
Retained Earnings $25.65M $97.73M
YoY Change -73.75% 19.27%
Common Stock $1.470B $1.480B
YoY Change -0.67% 6.88%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.496B $1.496B $1.578B
YoY Change
Total Liabilities & Shareholders Equity $5.827B $5.827B $4.897B
YoY Change 18.98% 18.99% 13.6%

Cashflow Statement

Concept 2015 Q4 2015 2014 Q4
OPERATING ACTIVITIES
Net Income $15.71M $90.10M $26.51M
YoY Change -40.75% -53.69% -49.69%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$337.0M -$863.2M $17.40M
YoY Change -2036.78% 135.85% -90.81%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $80.70M $11.50M -$280.3M
YoY Change -128.79% -58.93% 4.01%
Cash From Investing Activities $80.70M $11.50M -$280.3M
YoY Change -128.79% -58.93% 4.01%
FINANCING ACTIVITIES
Cash Dividend Paid $173.0M
YoY Change -0.81%
Common Stock Issuance & Retirement, Net $16.33M
YoY Change -118.03%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 225.0M 833.4M 292.8M
YoY Change -23.16% 115.35% 3804.0%
NET CHANGE
Cash From Operating Activities -337.0M -863.2M 17.40M
Cash From Investing Activities 80.70M 11.50M -280.3M
Cash From Financing Activities 225.0M 833.4M 292.8M
Net Change In Cash -31.30M -18.30M 29.90M
YoY Change -204.68% -137.35% -141.18%
FREE CASH FLOW
Cash From Operating Activities -$337.0M -$863.2M $17.40M
Capital Expenditures
Free Cash Flow
YoY Change

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CY2014Q4 pmt Borrowings Under Forward Purchase Agreement
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CY2014Q4 pmt Mortgage Loans On Real Estate Unpaid Balance
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CY2014Q4 pmt Pledged Assets Separately Reported Loans Acquired For Sale Pledged As Collateral At Fair Value
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CY2014Q4 pmt Real Estate Acquired Through Foreclosure Pledged To Secure Borrowings
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CY2014Q4 pmt Deferred Income Taxes And Taxes Payable
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CY2014Q4 pmt Mortgage Loan Participation And Sale Agreement
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CY2014Q4 pmt Servicing Advances
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CY2014Q4 pmt Fair Value Of Mortgage Servicing Rights Pledged To Secure Note Payable
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CY2014Q4 pmt Derivative Asset Netting
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CY2015Q4 pmt Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested And Expected To Vest Weighted Average Grant Date Fair Value
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CY2015Q4 pmt Borrowings Under Forward Purchase Agreement
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CY2015Q4 pmt Mortgage Loans On Real Estate Unpaid Balance
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CY2015Q4 pmt Pledged Assets Separately Reported Loans Acquired For Sale Pledged As Collateral At Fair Value
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CY2015Q4 pmt Deferred Income Tax Expense Benefit Deferred Tax Asset Valuation
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CY2015Q4 pmt Representations And Warranties Liability
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CY2015Q4 pmt Selected Quarterly Results Mortgage Loans On Real Estate
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CY2015Q4 pmt Mortgage Loans Acquired For Sale At Fair Value Outstanding Contractual Loan Purchase Commitments
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CY2015Q4 pmt Ratio Of Loans With Unpaid Principal Balance To Current Property Value
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CY2015Q4 pmt Percentage Of Mortgage Loan Portfolio Originated In Domestic Real Estate
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CY2015Q4 pmt Assets Sold Under Agreements To Repurchase Repurchase Liability And Participating Mortgage Loans Participation Liabilities Amount
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CY2015Q4 pmt Excess Spread Investment
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CY2015Q4 pmt Mortgage Servicing Rights
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CY2015Q4 pmt Mortgage Loans At Fair Value Held By Variable Interest Entity
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CY2015Q4 pmt Mortgage Loan Participation And Sale Agreement
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CY2015Q4 pmt Selected Quarterly Results Real Estate Acquired Through Foreclosure
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CY2015Q4 pmt Guarantee Obligations Recourse Provision Unpaid Principal Balance Of Mortgage Loans Subject To Representations And Warranties
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CY2015Q4 pmt Loans Held For Sale Principal Balance
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CY2015Q4 pmt Fair Value Unpaid Principal Of Underlying Loans Balance
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CY2015Q4 pmt Percentage Of Estimated Fair Value Of Mortgage Loans Originated
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CY2015Q4 pmt Percentage Of Fair Value Mortgage Loan Portfolio
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CY2015Q4 pmt Servicing Asset At Amortized Cost Before Valuation Allowance
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CY2015Q4 pmt Servicing Advances
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CY2015Q4 pmt Percentage Of Mortgage Loan Portfolio
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CY2015Q4 pmt Selected Quarterly Results Other Assets
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CY2015Q4 pmt Credit Risk Transfer Financing At Fair Value
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CY2015Q4 pmt Mortgage Servicing Rights Secured Notes Payable
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CY2015Q4 pmt Fair Value Of Mortgage Servicing Rights Pledged To Secure Note Payable
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CY2015Q4 pmt Federal Home Loan Bank Advances Activity For Year Maximum Daily Amount Outstanding
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CY2015Q4 pmt Assets Sold Under Agreements To Repurchase
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CY2015Q4 pmt Deferred Tax Assets Excess Interest Expense Disallowance
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CY2015Q4 pmt Derivative Asset Netting
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CY2013Q3 us-gaap Stock Issued During Period Shares New Issues
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CY2013Q3 us-gaap Proceeds From Issuance Of Common Stock
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CY2013 us-gaap Earnings Per Share Diluted
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CY2013 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
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CY2013 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
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CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
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CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeited In Period
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CY2013 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
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CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
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CY2013 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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CY2013 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
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CY2013 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
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CY2013 us-gaap Common Stock Dividends Per Share Declared
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CY2013 us-gaap Servicing Asset At Fair Value Period Increase Decrease
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CY2013 us-gaap Real Estate Owned Valuation Allowance Period Increase Decrease
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CY2013 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2013 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Weighted Average Grant Date Fair Value
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CY2013 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeitures Weighted Average Grant Date Fair Value
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CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
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CY2013 us-gaap Earnings Per Share Basic
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CY2013 us-gaap Effective Income Tax Rate Continuing Operations
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CY2013 us-gaap Effective Income Tax Rate Reconciliation Tax Exempt Income
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CY2013 us-gaap Net Income Loss
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CY2013 us-gaap Net Income Loss Available To Common Stockholders Basic
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CY2013 us-gaap Interest On Convertible Debt Net Of Tax
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CY2013 us-gaap Revenues
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CY2013 us-gaap Interest Paid
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CY2013 us-gaap Gains Losses On Sales Of Investment Real Estate
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CY2013 us-gaap Stock Issued During Period Value New Issues
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CY2013 us-gaap Contractually Specified Servicing Fees Amount
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CY2013 us-gaap Payments For Repurchase Of Common Stock
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CY2013 us-gaap Payments Of Stock Issuance Costs
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CY2013 us-gaap Payments To Acquire Loans Held For Investment
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CY2013 us-gaap Increase Decrease In Other Operating Assets
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CY2013 us-gaap Net Income Loss Attributable To Parent Diluted
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CY2013 us-gaap Accretion Amortization Of Discounts And Premiums Investments
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CY2013 us-gaap Payments To Acquire Available For Sale Securities Debt
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CY2013 us-gaap Contractually Specified Servicing Fees Late Fees And Ancillary Fees Earned In Exchange For Servicing Financial Assets
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CY2013 us-gaap Income Tax Reconciliation Tax Exempt Income
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CY2013 us-gaap Gain Loss On Sales Of Loans Net
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CY2013 us-gaap Payments For Proceeds From Short Term Investments
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CY2013 us-gaap Valuation Allowance For Impairment Of Recognized Servicing Assets Provisions Recoveries
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CY2013 us-gaap Servicing Fees Net
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CY2013 us-gaap Increase Decrease Due From Affiliates
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CY2013 us-gaap Payments To Acquire Federal Home Loan Bank Stock
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CY2013 us-gaap Repayments Of Secured Debt
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CY2013 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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CY2013 us-gaap Servicing Asset At Fair Value Disposals
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CY2013 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Restricted Stock Units Requisite Service Period Recognition
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CY2013 us-gaap Net Income Loss Available To Common Stockholders Diluted
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CY2013 us-gaap Transfer Of Loans Held For Sale To Portfolio Loans1
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CY2013 us-gaap Income Tax Expense Benefit
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CY2013 us-gaap Share Based Compensation
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CY2013 us-gaap Adjustments To Additional Paid In Capital Stock Issued Issuance Costs
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CY2013 us-gaap Proceeds From Sale Of Federal Home Loan Bank Stock
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CY2013 us-gaap Deferred Federal Income Tax Expense Benefit
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CY2013 us-gaap Deferred State And Local Income Tax Expense Benefit
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CY2013 us-gaap Mortgage Servicing Rights Msr Impairment Recovery
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CY2013 us-gaap Proceeds From Convertible Debt
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CY2013 us-gaap Income Tax Reconciliation Other Adjustments
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CY2013 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
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CY2013 us-gaap Operating Expenses
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CY2013 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
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CY2013 us-gaap Proceeds From Sale And Collection Of Loans Receivable
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CY2013 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
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CY2013 us-gaap Transfer To Other Real Estate
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CY2013 us-gaap Amortization Of Mortgage Servicing Rights Ms Rs
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CY2013 us-gaap Deferred Income Tax Expense Benefit
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CY2013 us-gaap Current State And Local Tax Expense Benefit
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CY2013 us-gaap Increase Decrease In Income Taxes
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CY2013 us-gaap Servicing Asset At Amortized Value Additions
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CY2013 us-gaap Increase Decrease In Due To Affiliates
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CY2013 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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CY2013 us-gaap Labor And Related Expense
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CY2013 us-gaap Professional Fees
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CY2013 pmt Securities Sold Under Agreements To Repurchase Weighted Average Interest Rate At Period End
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CY2013 pmt Amortized Cost Unpaid Principal Balance Of Underlying Loans
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CY2013 us-gaap Proceeds From Sale Of Mortgage Servicing Rights Msr
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CY2013 us-gaap Servicing Asset At Fair Value Changes In Fair Value Resulting From Changes In Valuation Inputs Or Changes In Assumptions
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CY2013 us-gaap Servicing Asset At Fair Value Other Changes In Fair Value
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CY2013 us-gaap Dividends Common Stock
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CY2013 us-gaap Income Tax Reconciliation State And Local Income Taxes
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CY2013 pmt Percentage Of Ordinary Income
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CY2013 pmt Proceeds From Sales And Repayments Of Agency Debt
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CY2013 pmt Proceeds From Sale Of Mortgage Loans Held For Sale To Affiliates
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CY2013 pmt Net Gain Loss On Investments
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CY2013 pmt Services Fee Annual Rate
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CY2013 pmt Transfer Of Mortgage Loans Under Forward Purchase Agreements To Mortgage Loans
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CY2013 pmt Mortgage Loan Hedging Activities Cash Gain Loss
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CY2013 pmt Increase Decrease Of Excess Servicing Spread Recapture Receivable From Affiliates
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CY2013 pmt Deferred Income Tax Expense Benefit Mortgage Servicing Rights
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CY2013 pmt Loan Fulfillment Fees Payable To Affiliate
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CY2013 pmt Fair Value Purchased Of Mortgage Loans For Investment Portfolio
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CY2013 pmt Percentage Of Return Of Capital
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CY2013 pmt Share Based Compensation Cash And Noncash
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CY2013 pmt Fair Value Purchased Of Mortgage Loans Investment Portfolio Purchases From Or Through One Or More Subsidiaries
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CY2013 pmt Repayments Of Assets Sold Under Agreements To Repurchase
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CY2013 pmt Payments To Purchase Agency Debt Securities
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CY2013 pmt Fair Value Unpaid Principal Balance Of Underlying Loans
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CY2013 pmt Transfers From Reo Under Forward Purchases Agreements
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CY2013 pmt Fair Value Of Reo Purchased From Or Through One Or More Subsidiaries
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CY2013 pmt Convertible Debt Average Balance During Period
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CY2013 pmt Average Balance During Period For Servicing Assets Portfolio
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CY2013 pmt Payments To Purchase Mortgage Loans Held For Sale Affiliates
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CY2013 pmt Real Estate Acquired In Satisfaction Of Debt
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CY2013 pmt Provisions For Representations And Warranties Losses
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CY2013 pmt Securities Sold Under Agreements Available Borrowing Capacity
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CY2013 pmt Fair Value Of Reo Purchased During Year
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CY2013 pmt Repayments Of Excess Servicing Spread Investment
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CY2013 pmt Securities Sold Under Agreements Available Borrowing Capacity Uncommitted
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CY2013 pmt Loan Originations Fees
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CY2013 pmt Representations And Warranties Losses Incurred
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CY2013 pmt Repayments Of Mortgage Loan Participation Certificates
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CY2013 pmt Proceeds From Sale Of Mortgage Loan Participation Certificates
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CY2013 pmt Aggregate Non Cash Portion Of Gain Loss On Mortgage Loans Acquired For Sale
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CY2013 pmt Gains Losses Real Estate Owned Net
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CY2013 pmt Increase Decrease In Servicing Advances
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CY2013 pmt Change In Fair Value Relating To Mortgage Loans Still Held At Period End
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CY2013 pmt Proceeds From Sale Of Real Estate Acquired In Settlement Of Loans
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CY2013 pmt Proceeds From Sale Of Assets Under Agreements To Repurchase
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CY2013 pmt Payment Of Contingent Underwriting Fees
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CY2013 pmt Percentage Of Distributions Characterized As Long Term Capital Gain
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CY2013 pmt Other Operating Income Loss Net
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CY2013 pmt Receipt Of Mortgage Servicing Rights As Proceeds From Sales Of Loans
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CY2013 pmt Deferred Income Tax Expense Benefit Of Liability Losses Under Representation And Warranties
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CY2013 pmt Deferred Income Tax Expense Benefit Of Operating Loss Carryforward
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CY2013 pmt Real Estate Owned Under Forward Purchase Agreement Valuation Allowance Provision
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CY2013 pmt Loan Fulfillment Servicing And Management Fees Payable To Affiliate
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CY2013 pmt Net Results Of Real Estate Acquired In Settlement Of Loans
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CY2013 pmt Sales Of Real Estate Acquired In Settlement Of Loans Under Forward Purchase Agreement
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CY2013 pmt Real Estate Acquired In Satisfaction Of Debt Under Forward Purchase Agreements
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CY2013 pmt Aggregate Cash Gain Loss On Sale Of Mortgage Loans Acquired For Sale Net Of Cash Hedging Results
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CY2013 pmt Mortgage Servicing Rights Recapture From Affiliate
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CY2013 pmt Repurchase Of Mortgage Loans Subject To Representation And Warranties
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CY2013 pmt Mortgage Servicing Rights Fair Value Purchases
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CY2013 pmt Securities Sold Under Agreements To Repurchase Weighted Average Interest Rate During Period
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CY2013 pmt Fair Value Of Mortgage Loans Purchased From Or Through One Or More Subsidiaries
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CY2013 pmt Purchase Of Real Estate Financed Through Forward Purchase Agreements
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CY2013 pmt Transfer Mortgage Loans Financed To Reo Financed
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CY2013 pmt Purchases Of Real Estate Acquired In Settlement Of Loans
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CY2013 pmt Servicing Asset At Fair Value Additions From Loan Sales
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CY2013 pmt Change In Fair Value Of Commitments To Purchase Loans
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CY2013 pmt Gain On Sale Of Mortgage Servicing Rights
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CY2013 pmt Payments To Purchase Excess Servicing Spread
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CY2013 pmt Repayments Of Mortgage Loans Under Forward Purchase Agreement At Fair Value
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15319000
CY2013 pmt Fair Value Of Mortgage Loan Purchased During Year
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CY2013 pmt Contingent Underwriting Fee Payments To Underwriters
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CY2013 pmt Gain Loss On Sale Of Mortgage Loans Acquired For Sale Cash Portion
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CY2013 pmt Percentage Of Amortized Cost
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CY2013 pmt Capitalization Of Interest And Advances On Mortgage Loans At Fair Value
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CY2013 pmt Sales Of Mortgage Servicing Rights Carried At Lower Of Amortized Cost Or Fair Value
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CY2013 pmt Transfers To Reo
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CY2013 pmt Change In Fair Value Hedging Instruments Still Held At Period End
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CY2013 pmt Deferred Income Tax Expense Benefit Real Estate Valuation Loss
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CY2013 pmt Amortization Of Credit Facility Commitment Fees And Debt Issuance Costs
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CY2013 pmt Payment Of Debt Issuance Cost And Commitment Fees
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CY2013 pmt Payments To Purchase Mortgage Loans Held For Sale Nonaffiliates
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CY2014 us-gaap Stock Issued During Period Shares New Issues
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CY2014 us-gaap Net Cash Provided By Used In Continuing Operations
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CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeited In Period
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CY2014 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
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CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
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CY2014 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
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CY2014 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
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CY2013 pmt Representations And Warranties Recovery
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CY2013 pmt Accrual Reversal Of Costs Related To Forward Purchase Agreement
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CY2013 pmt Proceeds From Secured Notes Payable Under Mortgage Servicing Rights
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CY2013 pmt Proceeds From Credit Risk Transfer
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CY2013 pmt Repayments Of Credit Risk Transfer
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CY2013 pmt Gains Losses Recognized Upon Sale Of Real Estate Owned Under Forward Purchase Agreement
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CY2013 pmt Purchase Of Mortgage Loans Financed Through Forward Purchase Agreements From Financing Activities
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CY2013 pmt Purchase Of Real Estate Financed Through Forward Purchase Agreements From Financing Activities
PurchaseOfRealEstateFinancedThroughForwardPurchaseAgreementsFromFinancingActivities
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CY2013 pmt Purchase Of Mortgage Loans Financed Through Forward Purchase Agreements From Investing Activities
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CY2013 pmt Repayments Of Secured Notes Payable Under Mortgage Servicing Rights
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CY2013 pmt Proceeds From Sale Of Asset Backed Secured Financing
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CY2013 pmt Gains Losses On Sales Of Real Estate Under Forward Purchase Agreements
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CY2013 pmt Proceeds From Sale Of Real Estate Under Forward Purchase Agreements
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CY2013 pmt Assets Sold Under Agreements To Repurchase Average Balance
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CY2013 pmt Asset Sold Under Agreements To Repurchase Maximum Daily Amount Outstanding
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CY2013 pmt Assets Sold Under Agreements Available Borrowing Capacity Committed
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CY2013 pmt Purchase Of Real Estate Financed Through Forward Purchase Agreements From Investing Activities
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CY2013 pmt Mortgage Loan Collection And Liquidation Expenses
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CY2013 pmt Proceeds From Sale And Repayments Of Mortgage Backed Securities Mbs At Fair Value
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CY2013 pmt Deposits Of Cash Collateral Securing Credit Risk Transfer Agreements
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CY2013 pmt Distributions From Credit Risk Transfer Agreements
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CY2013 pmt Capitalization Of Interest On Excess Servicing Spread
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CY2013 pmt Fair Value Of Vested Units During The Year
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CY2013 pmt Transfer Of Mortgage Loans Acquired For Sale To Mortgage Loans At Fair Value
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CY2013 pmt Deferred Income Tax Expense Benefit Excess Interest Expense Disallowance
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CY2014 us-gaap Earnings Per Share Diluted
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CY2014 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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CY2014 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
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CY2014 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
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CY2014 us-gaap Common Stock Dividends Per Share Declared
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CY2014 us-gaap Servicing Asset At Fair Value Period Increase Decrease
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CY2014 us-gaap Real Estate Owned Valuation Allowance Period Increase Decrease
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CY2014 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2014 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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CY2014 us-gaap Effective Income Tax Rate Reconciliation Tax Exempt Income
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CY2014 us-gaap Interest Income Operating
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CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Weighted Average Grant Date Fair Value
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19.68
CY2014 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeitures Weighted Average Grant Date Fair Value
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18.74
CY2014 us-gaap Payments For Federal Home Loan Bank Advances
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CY2014 us-gaap Other Income
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8900000
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
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CY2014 us-gaap Earnings Per Share Basic
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CY2014 us-gaap Effective Income Tax Rate Continuing Operations
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CY2014 us-gaap Net Income Loss
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CY2014 us-gaap Net Income Loss Available To Common Stockholders Basic
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CY2014 us-gaap Interest On Convertible Debt Net Of Tax
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CY2014 us-gaap Revenues
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356741000
CY2014 us-gaap Payments For Derivative Instrument Investing Activities
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CY2014 us-gaap Interest Paid
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CY2014 us-gaap Gain Loss On Investments
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CY2014 us-gaap Payments Of Dividends
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174433000
CY2014 us-gaap Interest Income Expense Net
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CY2014 us-gaap Gains Losses On Sales Of Investment Real Estate
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CY2014 us-gaap Stock Issued During Period Value New Issues
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CY2014 us-gaap Contractually Specified Servicing Fees Amount
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CY2014 us-gaap Payments For Repurchase Of Common Stock
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CY2014 us-gaap Payments Of Stock Issuance Costs
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CY2014 us-gaap Payments To Acquire Loans Held For Investment
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CY2014 us-gaap Increase Decrease In Other Operating Assets
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24910000
CY2014 us-gaap Net Income Loss Attributable To Parent Diluted
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CY2014 us-gaap Accretion Amortization Of Discounts And Premiums Investments
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CY2014 us-gaap Payments To Acquire Available For Sale Securities Debt
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CY2014 us-gaap Contractually Specified Servicing Fees Late Fees And Ancillary Fees Earned In Exchange For Servicing Financial Assets
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CY2014 us-gaap Income Tax Reconciliation Tax Exempt Income
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CY2014 us-gaap Gain Loss On Sales Of Loans Net
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CY2014 us-gaap Increase Decrease In Restricted Cash
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CY2014 us-gaap Payments For Proceeds From Short Term Investments
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CY2014 us-gaap Valuation Allowance For Impairment Of Recognized Servicing Assets Provisions Recoveries
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5138000
CY2014 us-gaap Servicing Fees Net
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CY2014 us-gaap Increase Decrease Due From Affiliates
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127000
CY2014 us-gaap Payments To Acquire Federal Home Loan Bank Stock
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CY2014 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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CY2014 us-gaap Servicing Asset At Fair Value Disposals
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139000
CY2014 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Restricted Stock Units Requisite Service Period Recognition
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5752000
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CY2014 us-gaap Income Taxes Paid Net
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CY2014 us-gaap Payments To Acquire Mortgage Servicing Rights Msr
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CY2014 us-gaap Transfer Of Loans Held For Sale To Portfolio Loans1
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CY2014 us-gaap Share Based Compensation
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CY2014 us-gaap Adjustments To Additional Paid In Capital Stock Issued Issuance Costs
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CY2014 us-gaap Mortgage Servicing Rights Msr Impairment Recovery
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CY2014 us-gaap Proceeds From Convertible Debt
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CY2014 us-gaap Income Tax Reconciliation Other Adjustments
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CY2014 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
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CY2014 us-gaap Interest Expense
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CY2014 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
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CY2014 us-gaap Proceeds From Sale And Collection Of Loans Receivable
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CY2014 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
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CY2014 us-gaap Current State And Local Tax Expense Benefit
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CY2014 us-gaap Servicing Asset At Amortized Value Additions
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CY2014 us-gaap Increase Decrease In Due To Affiliates
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CY2014 us-gaap Current Federal Tax Expense Benefit
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CY2014 us-gaap Current Income Tax Expense Benefit
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CY2014 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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CY2014 us-gaap Labor And Related Expense
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CY2014 us-gaap Professional Fees
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CY2014 us-gaap Repurchase Agreements Interest Expense Amount
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CY2014 us-gaap Proceeds From Sale Of Mortgage Loans Held For Sale
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CY2014 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
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1830000
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CY2014 us-gaap Dividends Common Stock
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CY2014 us-gaap Income Tax Reconciliation State And Local Income Taxes
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CY2014 pmt Percentage Of Ordinary Income
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CY2014 pmt Proceeds From Sales And Repayments Of Agency Debt
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CY2014 pmt Proceeds From Sale Of Mortgage Loans Held For Sale To Affiliates
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CY2014 pmt Net Gain Loss On Investments
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CY2014 pmt Provisions For Representations And Warranties Losses
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CY2014 pmt Securities Sold Under Agreements Available Borrowing Capacity
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CY2014 pmt Fair Value Of Reo Purchased During Year
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CY2014 pmt Repayments Of Excess Servicing Spread Investment
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CY2014 pmt Securities Sold Under Agreements Available Borrowing Capacity Uncommitted
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CY2014 pmt Services Fee Annual Rate
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CY2014 pmt Transfer Of Mortgage Loans Under Forward Purchase Agreements To Mortgage Loans
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CY2014 pmt Mortgage Loan Hedging Activities Cash Gain Loss
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CY2014 pmt Increase Decrease Of Excess Servicing Spread Recapture Receivable From Affiliates
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CY2014 pmt Deferred Income Tax Expense Benefit Mortgage Servicing Rights
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CY2014 pmt Loan Fulfillment Fees Payable To Affiliate
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CY2014 pmt Fair Value Purchased Of Mortgage Loans For Investment Portfolio
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CY2014 pmt Percentage Of Return Of Capital
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CY2014 pmt Share Based Compensation Cash And Noncash
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CY2014 pmt Fair Value Purchased Of Mortgage Loans Investment Portfolio Purchases From Or Through One Or More Subsidiaries
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26805000
CY2014 pmt Securities Sold Under Agreements To Repurchase Weighted Average Interest Rate At Period End
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CY2014 pmt Amortized Cost Unpaid Principal Balance Of Underlying Loans
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CY2014 pmt Repayment Of Borrowings Under Forward Purchase Agreement
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CY2014 pmt Repayments Of Assets Sold Under Agreements To Repurchase
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CY2014 pmt Payments To Purchase Agency Debt Securities
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CY2014 pmt Fair Value Unpaid Principal Balance Of Underlying Loans
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CY2014 pmt Transfers From Reo Under Forward Purchases Agreements
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12737000
CY2014 pmt Fair Value Of Reo Purchased From Or Through One Or More Subsidiaries
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68000
CY2014 pmt Convertible Debt Average Balance During Period
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CY2014 pmt Average Balance During Period For Servicing Assets Portfolio
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CY2014 pmt Payments To Purchase Mortgage Loans Held For Sale Affiliates
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CY2014 pmt Real Estate Acquired In Satisfaction Of Debt
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CY2014 pmt Loan Originations Fees
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CY2014 pmt Representations And Warranties Losses Incurred
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CY2014 pmt Repayments Of Mortgage Loan Participation Certificates
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CY2014 pmt Fair Value Weighted Average Coupon Interest Rate
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CY2014 pmt Proceeds From Sale Of Mortgage Loan Participation Certificates
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CY2014 pmt Aggregate Non Cash Portion Of Gain Loss On Mortgage Loans Acquired For Sale
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CY2014 pmt Gains Losses Real Estate Owned Net
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CY2014 pmt Increase Decrease In Servicing Advances
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CY2014 pmt Change In Fair Value Relating To Mortgage Loans Still Held At Period End
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3825000
CY2014 pmt Proceeds From Sale Of Real Estate Acquired In Settlement Of Loans
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184467000
CY2014 pmt Proceeds From Sale Of Assets Under Agreements To Repurchase
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31873913000
CY2014 pmt Payment Of Contingent Underwriting Fees
PaymentOfContingentUnderwritingFees
2372000
CY2014 pmt Percentage Of Distributions Characterized As Long Term Capital Gain
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CY2014 pmt Other Operating Income Loss Net
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CY2014 pmt Amortized Cost Unpaid Principal Balance Of Underlying Loans Period End
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CY2014 pmt Deferred Income Tax Expense Benefit Of Liability Losses Under Representation And Warranties
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5944000
CY2014 pmt Receipt Of Mortgage Servicing Rights As Proceeds From Sales Of Loans
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121333000
CY2014 pmt Transfer Mortgage Loans Financed To Reo Financed
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2731000
CY2014 pmt Purchases Of Real Estate Acquired In Settlement Of Loans
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CY2014 pmt Servicing Asset At Fair Value Additions From Loan Sales
ServicingAssetAtFairValueAdditionsFromLoanSales
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CY2014 pmt Change In Fair Value Of Commitments To Purchase Loans
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4412000
CY2014 pmt Gain On Sale Of Mortgage Servicing Rights
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CY2014 pmt Payments To Purchase Excess Servicing Spread
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95892000
CY2014 pmt Repayments Of Mortgage Loans Under Forward Purchase Agreement At Fair Value
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6413000
CY2014 pmt Fair Value Of Mortgage Loan Purchased During Year
FairValueOfMortgageLoanPurchasedDuringYear
557432000
CY2014 pmt Contingent Underwriting Fee Payments To Underwriters
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1700000
CY2014 pmt Gain Loss On Sale Of Mortgage Loans Acquired For Sale Cash Portion
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-20989000
CY2014 pmt Percentage Of Amortized Cost
PercentageOfAmortizedCost
0.25 pure
CY2014 pmt Capitalization Of Interest And Advances On Mortgage Loans At Fair Value
CapitalizationOfInterestAndAdvancesOnMortgageLoansAtFairValue
66850000
CY2014 pmt Sales Of Mortgage Servicing Rights Carried At Lower Of Amortized Cost Or Fair Value
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289000
CY2014 pmt Transfers To Reo
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CY2014 pmt Change In Fair Value Hedging Instruments Still Held At Period End
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CY2014 pmt Deferred Income Tax Expense Benefit Real Estate Valuation Loss
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CY2014 pmt Amortization Of Credit Facility Commitment Fees And Debt Issuance Costs
AmortizationOfCreditFacilityCommitmentFeesAndDebtIssuanceCosts
9763000
CY2014 pmt Payment Of Debt Issuance Cost And Commitment Fees
PaymentOfDebtIssuanceCostAndCommitmentFees
0
CY2014 pmt Payments To Purchase Mortgage Loans Held For Sale Nonaffiliates
PaymentsToPurchaseMortgageLoansHeldForSaleNonaffiliates
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CY2014 pmt Deferred Income Tax Expense Benefit Of Operating Loss Carryforward
DeferredIncomeTaxExpenseBenefitOfOperatingLossCarryforward
35963000
CY2014 pmt Real Estate Owned Under Forward Purchase Agreement Valuation Allowance Provision
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779000
CY2014 pmt Loan Fulfillment Servicing And Management Fees Payable To Affiliate
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136276000
CY2014 pmt Net Results Of Real Estate Acquired In Settlement Of Loans
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CY2014 pmt Amortized Cost Weighted Average Coupon Interest Rate
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CY2014 pmt Sales Of Real Estate Acquired In Settlement Of Loans Under Forward Purchase Agreement
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5365000
CY2014 pmt Weighted Average Servicing Fee Rate Amortized Cost
WeightedAverageServicingFeeRateAmortizedCost
0.0026 pure
CY2014 pmt Net Operating Loss Carry Forwards Expiration Date
NetOperatingLossCarryForwardsExpirationDate
2033
CY2014 pmt Real Estate Acquired In Satisfaction Of Debt Under Forward Purchase Agreements
RealEstateAcquiredInSatisfactionOfDebtUnderForwardPurchaseAgreements
9369000
CY2014 pmt Aggregate Cash Gain Loss On Sale Of Mortgage Loans Acquired For Sale Net Of Cash Hedging Results
AggregateCashGainLossOnSaleOfMortgageLoansAcquiredForSaleNetOfCashHedgingResults
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CY2014 pmt Mortgage Servicing Rights Recapture From Affiliate
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CY2014 pmt Repurchase Of Mortgage Loans Subject To Representation And Warranties
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CY2014 pmt Mortgage Servicing Rights Fair Value Purchases
MortgageServicingRightsFairValuePurchases
0
CY2014 pmt Securities Sold Under Agreements To Repurchase Weighted Average Interest Rate During Period
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0.0212 pure
CY2014 pmt Fair Value Of Mortgage Loans Purchased From Or Through One Or More Subsidiaries
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CY2014 pmt Purchase Of Real Estate Financed Through Forward Purchase Agreements
PurchaseOfRealEstateFinancedThroughForwardPurchaseAgreements
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CY2014 pmt Representations And Warranties Recovery
RepresentationsAndWarrantiesRecovery
0
CY2014 pmt Accrual Reversal Of Costs Related To Forward Purchase Agreement
AccrualReversalOfCostsRelatedToForwardPurchaseAgreement
168000
CY2014 pmt Proceeds From Secured Notes Payable Under Mortgage Servicing Rights
ProceedsFromSecuredNotesPayableUnderMortgageServicingRights
0
CY2014 pmt Proceeds From Credit Risk Transfer
ProceedsFromCreditRiskTransfer
0
CY2014 pmt Repayments Of Credit Risk Transfer
RepaymentsOfCreditRiskTransfer
0
CY2014 pmt Gains Losses Recognized Upon Sale Of Real Estate Owned Under Forward Purchase Agreement
GainsLossesRecognizedUponSaleOfRealEstateOwnedUnderForwardPurchaseAgreement
306000
CY2014 pmt Purchase Of Mortgage Loans Financed Through Forward Purchase Agreements From Financing Activities
PurchaseOfMortgageLoansFinancedThroughForwardPurchaseAgreementsFromFinancingActivities
2828000
CY2014 pmt Purchase Of Real Estate Financed Through Forward Purchase Agreements From Financing Activities
PurchaseOfRealEstateFinancedThroughForwardPurchaseAgreementsFromFinancingActivities
68000
CY2014 pmt Purchase Of Mortgage Loans Financed Through Forward Purchase Agreements From Investing Activities
PurchaseOfMortgageLoansFinancedThroughForwardPurchaseAgreementsFromInvestingActivities
2828000
CY2014 pmt Repayments Of Secured Notes Payable Under Mortgage Servicing Rights
RepaymentsOfSecuredNotesPayableUnderMortgageServicingRights
0
CY2014 pmt Proceeds From Sale Of Asset Backed Secured Financing
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0
CY2014 pmt Gains Losses On Sales Of Real Estate Under Forward Purchase Agreements
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CY2014 pmt Proceeds From Sale Of Real Estate Under Forward Purchase Agreements
ProceedsFromSaleOfRealEstateUnderForwardPurchaseAgreements
5365000
CY2014 pmt Assets Sold Under Agreements To Repurchase Average Balance
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2311273000
CY2014 pmt Asset Sold Under Agreements To Repurchase Maximum Daily Amount Outstanding
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CY2014 pmt Assets Sold Under Agreements Available Borrowing Capacity Committed
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652360000
CY2014 pmt Purchase Of Real Estate Financed Through Forward Purchase Agreements From Investing Activities
PurchaseOfRealEstateFinancedThroughForwardPurchaseAgreementsFromInvestingActivities
68000
CY2014 pmt Mortgage Loan Collection And Liquidation Expenses
MortgageLoanCollectionAndLiquidationExpenses
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CY2014 pmt Proceeds From Sale And Repayments Of Mortgage Backed Securities Mbs At Fair Value
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86783000
CY2014 pmt Deposits Of Cash Collateral Securing Credit Risk Transfer Agreements
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0
CY2014 pmt Distributions From Credit Risk Transfer Agreements
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CY2014 pmt Capitalization Of Interest On Excess Servicing Spread
CapitalizationOfInterestOnExcessServicingSpread
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CY2014 pmt Fair Value Of Vested Units During The Year
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CY2014 pmt Transfer Of Mortgage Loans Acquired For Sale To Mortgage Loans At Fair Value
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0
CY2014 pmt Deferred Income Tax Expense Benefit Excess Interest Expense Disallowance
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0
CY2015 dei Document Fiscal Period Focus
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FY
CY2015 us-gaap Earnings Per Share Diluted
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1.16
CY2015 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
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-863188000
CY2015 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
2 Segment
CY2015 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
8467000 shares
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
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310636 shares
CY2015 us-gaap Description Of New Accounting Pronouncements Not Yet Adopted
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<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 18pt"> <b>Note&#xA0;37&#x2014;Recently Issued Accounting Pronouncements</b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt; TEXT-INDENT: 8%"> In February 2015, the FASB issued ASU 2015-02, <i>Consolidation (Topic 810): Amendments to the Consolidation Analysis</i> (&#x201C;ASU 2015-02&#x201D;). ASU 2015-02 affects reporting entities that are required to evaluate whether they should consolidate certain legal entities. ASU 2015-02 modifies the evaluation of whether limited partnerships and similar legal entities are VIEs or voting interest entities, eliminates the presumption that a general partner should consolidate a limited partnership and affects the consolidation analysis of reporting entities that are involved with VIEs, particularly those that have fee arrangements and related party relationships. ASU 2015-02 is effective for fiscal years, and for interim periods within those fiscal years, beginning after December&#xA0;15, 2015. Early adoption is permitted. A reporting entity may apply the amendments in ASU 2015-02: (a)&#xA0;using a modified retrospective approach by recording a cumulative-effect adjustment to equity as of the beginning of the fiscal year of adoption; or (b)&#xA0;by applying the amendments retrospectively. The Company is currently assessing the potential effect that the adoption of ASU 2015-02 will have on its consolidated financial statements.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 8%"> In April 2015, the&#xA0;FASB&#xA0;issued ASU No.&#xA0;2015-03. The amendments in this ASU require that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. The recognition and measurement guidance for debt issuance costs are not affected by the amendments in this ASU. ASU 2015-03 should be applied on a retrospective basis and is effective for the Company for financial statements issued for fiscal years and interim periods within those fiscal years beginning after&#xA0;December 15, 2015.</p> <p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; MARGIN-TOP: 12px"> &#xA0;</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 0pt; TEXT-INDENT: 8%"> The Company adopted ASU 2015-03 during the quarter ended June&#xA0;30, 2015. As a result of the adoption of ASU 2015-03, the Company, on its December&#xA0;31, 2015 consolidated balance sheet, reclassified $6.6 million in debt issuance costs from <i>Other</i> assets and allocated such costs in the amount of $1.5 million to <i>Assets sold under agreements to repurchase</i>; $92,000 to <i>Notes payable</i> and $4.9 million to <i>Exchangeable senior notes</i>. There were no changes to the Company&#x2019;s consolidated statements of income or consolidated statements of cash flows as a result of the Company&#x2019;s adoption of ASU 2015-03.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 8%"> On January&#xA0;5, 2016, the FASB issued ASU 2016-01, <i>Financial Instruments&#x2013;Overall: Recognition and Measurement of Financial Assets and Financial Liabilities</i> (&#x201C;ASU 2016-01&#x201D;). ASU 2016-01 affects the accounting for equity investments, financial liabilities under the fair value option, the presentation and disclosure requirements for financial instruments, and the valuation allowance assessment when recognizing deferred tax assets resulting from unrealized losses on available-for-sale debt securities.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 8%"> ASU 2016-01 requires that:</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt"> &#xA0;</p> <table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr> <td width="4%">&#xA0;</td> <td valign="top" width="3%" align="left">&#x2022;</td> <td valign="top" width="1%">&#xA0;</td> <td valign="top" align="left">All equity investments in unconsolidated entities (other than those accounted for using the equity method of accounting) with readily determinable fair values will generally be measured at fair value through earnings.</td> </tr> </table> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt"> &#xA0;</p> <table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr> <td width="4%">&#xA0;</td> <td valign="top" width="3%" align="left">&#x2022;</td> <td valign="top" width="1%">&#xA0;</td> <td valign="top" align="left">When the fair value option has been elected for financial liabilities, changes in fair value due to instrument-specific credit risk will be recognized separately in other comprehensive income. The accumulated gains and losses due to these changes will be reclassified from accumulated other comprehensive income to earnings if the financial liability is settled before maturity.</td> </tr> </table> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt"> &#xA0;</p> <table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr> <td width="4%">&#xA0;</td> <td valign="top" width="3%" align="left">&#x2022;</td> <td valign="top" width="1%">&#xA0;</td> <td valign="top" align="left">For financial instruments measured at amortized cost, public business entities will be required to use the exit price when measuring the fair value of financial instruments for disclosure purposes.</td> </tr> </table> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt"> &#xA0;</p> <table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr> <td width="4%">&#xA0;</td> <td valign="top" width="3%" align="left">&#x2022;</td> <td valign="top" width="1%">&#xA0;</td> <td valign="top" align="left">Financial assets and financial liabilities shall be presented separately in the notes to the financial statements, grouped by measurement category (e.g., fair value, amortized cost, lower of cost or fair value) and form of financial asset (e.g., loans, securities).</td> </tr> </table> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt"> &#xA0;</p> <table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr> <td width="4%">&#xA0;</td> <td valign="top" width="3%" align="left">&#x2022;</td> <td valign="top" width="1%">&#xA0;</td> <td valign="top" align="left">Public business entities will no longer be required to disclose the methods and significant assumptions used to estimate the fair value of financial instruments carried at amortized cost.</td> </tr> </table> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt"> &#xA0;</p> <table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr> <td width="4%">&#xA0;</td> <td valign="top" width="3%" align="left">&#x2022;</td> <td valign="top" width="1%">&#xA0;</td> <td valign="top" align="left">Entities will have to assess the realizability of a deferred tax asset related to a debt security classified as available-for sale in combination with the entity&#x2019;s other deferred tax assets.</td> </tr> </table> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 8%"> The classification and measurement guidance will be effective for public business entities in fiscal years beginning after December&#xA0;15, 2017, including interim periods within those fiscal years. All entities can early adopt the provision to record fair value changes for financial liabilities under the fair value option resulting from instrument-specific credit risk in other comprehensive income. Early adoption of these provisions can be elected for all financial statements of fiscal years and interim periods that have not yet been issued or that have not yet been made available for issuance. The Company is currently assessing the potential effect that the adoption of ASU 2016-01 will have on its consolidated financial statements.</p> </div>
CY2015 dei Document Fiscal Year Focus
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2015
CY2015 dei Amendment Flag
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false
CY2015 us-gaap Net Cash Provided By Used In Continuing Operations
NetCashProvidedByUsedInContinuingOperations
-18278000
CY2015 dei Document Type
DocumentType
10-K
CY2015 dei Entity Central Index Key
EntityCentralIndexKey
0001464423
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeited In Period
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500 shares
CY2015 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
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CY2015 dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
301763 shares
CY2015 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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CY2015 us-gaap Concentration Risk Credit Risk
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<div> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 12pt; LETTER-SPACING: normal; TEXT-INDENT: 8%; -webkit-text-stroke-width: 0px"> Because of the Company&#x2019;s investments, PMT is exposed, to a greater extent than traditional mortgage investors, to the risks that borrowers may be in economic distress and/or may have become unemployed, bankrupt or otherwise unable or unwilling to make payments when due, and to the effects of fluctuations in the residential real estate market on the performance of its investments. Factors influencing these risks include, but are not limited to:</p> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 6pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px"> &#xA0;</p> <table style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; WIDOWS: 1; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr> <td width="13%">&#xA0;</td> <td valign="top" width="3%" align="left">&#x2022;</td> <td valign="top" width="1%">&#xA0;</td> <td valign="top" align="left">changes in the overall economy, unemployment rates and residential real estate values in the markets where the properties securing the Company&#x2019;s mortgage loans are located;</td> </tr> </table> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 6pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px"> &#xA0;</p> <table style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; WIDOWS: 1; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr> <td width="13%">&#xA0;</td> <td valign="top" width="3%" align="left">&#x2022;</td> <td valign="top" width="1%">&#xA0;</td> <td valign="top" align="left">PCM&#x2019;s ability to identify and PLS&#x2019; ability to execute optimal resolutions of certain mortgage loans;</td> </tr> </table> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 6pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px"> &#xA0;</p> <table style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; WIDOWS: 1; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr> <td width="13%">&#xA0;</td> <td valign="top" width="3%" align="left">&#x2022;</td> <td valign="top" width="1%">&#xA0;</td> <td valign="top" align="left">the accuracy of valuation information obtained during the Company&#x2019;s due diligence activities;</td> </tr> </table> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 6pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px"> &#xA0;</p> <table style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; WIDOWS: 1; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr> <td width="13%">&#xA0;</td> <td valign="top" width="3%" align="left">&#x2022;</td> <td valign="top" width="1%">&#xA0;</td> <td valign="top" align="left">PCM&#x2019;s ability to effectively model, and to develop appropriate model inputs that properly anticipate, future outcomes;</td> </tr> </table> <p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 1px 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 6px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px"> &#xA0;</p> <table style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; WIDOWS: 1; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr> <td width="13%">&#xA0;</td> <td valign="top" width="3%" align="left">&#x2022;</td> <td valign="top" width="1%">&#xA0;</td> <td valign="top" align="left">the level of government support for resolution of certain mortgage loans and the effect of current and future proposed and enacted legislative and regulatory changes on the Company&#x2019;s ability to effect cures or resolutions to distressed mortgage loans; and</td> </tr> </table> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 6pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px"> &#xA0;</p> <table style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; WIDOWS: 1; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr> <td width="13%">&#xA0;</td> <td valign="top" width="3%" align="left">&#x2022;</td> <td valign="top" width="1%">&#xA0;</td> <td valign="top" align="left">regulatory, judicial and legislative support of the foreclosure process, and the resulting effect on the Company&#x2019;s ability to acquire and liquidate the real estate securing its portfolio of distressed mortgage loans in a timely manner or at all.</td> </tr> </table> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 12pt; LETTER-SPACING: normal; TEXT-INDENT: 8%; -webkit-text-stroke-width: 0px"> Due to these uncertainties, there can be no assurance that risk management activities identified and executed on PMT&#x2019;s behalf will prevent significant losses arising from the Company&#x2019;s investments in real estate-related assets.</p> </div>
CY2015 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
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0.000 pure
CY2015 us-gaap Schedule Of Repurchase Agreements
ScheduleOfRepurchaseAgreements
<div> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 8%; -webkit-text-stroke-width: 0px"> Following is a summary of maturities of outstanding assets sold under agreements to repurchase by maturity date:</p> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 12pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px"> &#xA0;</p> <table style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; WIDOWS: 1; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="68%" align="center" border="0"> <tr> <td width="84%"></td> <td valign="bottom" width="6%"></td> <td></td> <td></td> <td></td> </tr> <tr style="FONT-SIZE: 8pt; FONT-FAMILY: 'Times New Roman'"> <td valign="bottom" nowrap="nowrap"> <p style="FONT-SIZE: 8pt; FONT-FAMILY: 'Times New Roman'; BORDER-BOTTOM: rgb(0,0,0) 1pt solid; WIDTH: 145.65pt"> <b>Remaining Maturity at December&#xA0;31, 2015</b></p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td style="BORDER-BOTTOM: rgb(0,0,0) 1pt solid" valign="bottom" colspan="2" align="center"><b>Contractual<br /> balance</b></td> <td valign="bottom">&#xA0;</td> </tr> <tr style="FONT-SIZE: 8pt; FONT-FAMILY: 'Times New Roman'"> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom" colspan="2" align="center"> <b>(in&#xA0;thousands)</b></td> <td valign="bottom">&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'" bgcolor="#CCEEFF"> <td valign="top"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 1em; TEXT-INDENT: -1em"> Within 30 days</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">1,304,803</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'"> <td valign="top"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 1em; TEXT-INDENT: -1em"> Over 30 to 90&#xA0;days</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">170,403</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'" bgcolor="#CCEEFF"> <td valign="top"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 1em; TEXT-INDENT: -1em"> Over 90&#xA0;days to 180 days</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;</td> <td valign="bottom" nowrap="nowrap" align="right"> &#x2014;&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'"> <td valign="top"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 1em; TEXT-INDENT: -1em"> Over 180 days to 1 year</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">1,280,861</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'" bgcolor="#CCEEFF"> <td valign="top"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 1em; TEXT-INDENT: -1em"> Over 1 year to 2 years</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">374,261</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 1px solid">&#xA0;</p> </td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 1px solid">&#xA0;</p> </td> <td>&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'"> <td valign="top"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">3,130,328</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 3px double">&#xA0;</p> </td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 3px double">&#xA0;</p> </td> <td>&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'" bgcolor="#CCEEFF"> <td valign="top"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 1em; TEXT-INDENT: -1em"> Weighted average maturity (in months)</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">6.0</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> </tr> </table> <br class="Apple-interchange-newline" /></div>
CY2015 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
-0.039 pure
CY2015 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
2.16
CY2015 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2015 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2015 us-gaap Servicing Asset At Fair Value Period Increase Decrease
ServicingAssetAtFairValuePeriodIncreaseDecrease
-7072000
CY2015 dei Entity Registrant Name
EntityRegistrantName
PennyMac Mortgage Investment Trust
CY2015 dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
Yes
CY2015 us-gaap Real Estate Owned Valuation Allowance Period Increase Decrease
RealEstateOwnedValuationAllowancePeriodIncreaseDecrease
-40432000
CY2015 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
83336000 shares
CY2015 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
423000 shares
CY2015 dei Entity Voluntary Filers
EntityVoluntaryFilers
No
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue
19.65
CY2015 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 8%; MARGIN-TOP: 18pt"> <b><i>Reclassification of Previously Presented Amounts</i></b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt; TEXT-INDENT: 8%"> In April of 2015, the FASB issued Accounting Standards Update (&#x201C;ASU&#x201D;) No.&#xA0;2015-03, <i>Interest&#x2014;Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs</i> (&#x201C;ASU 2015-03&#x201D;). The amendments in this ASU require that debt issuance costs related to a recognized debt liability be presented in the consolidated balance sheet as a direct deduction from the carrying amount of that debt liability. ASU 2015-03 specifies that its adoption be made on a retrospective basis. Accordingly, the Company has reclassified its debt issuance costs from <i>Other</i> assets as previously presented to <i>Short-term borrowings</i> and <i>Long-term borrowings</i> to conform its December&#xA0;31, 2014 balance sheet to the current presentation. The adoption of ASU 2015-03 did not result in changes to the Company&#x2019;s previously presented consolidated statements of income.</p> </div>
CY2015 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
74446000 shares
CY2015 dei Document Period End Date
DocumentPeriodEndDate
2015-12-31
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeitures Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue
21.29
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
21.06
CY2015 us-gaap Use Of Estimates
UseOfEstimates
<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 8%; MARGIN-TOP: 18pt"> <b><i>Use of Estimates</i></b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt; TEXT-INDENT: 8%"> Preparation of financial statements in compliance with GAAP requires the Manager to make estimates and judgments that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements, and revenues and expenses during the reporting period. Actual results will likely differ from those estimates.</p> </div>
CY2015 dei Trading Symbol
TradingSymbol
PMT
CY2015 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.19
CY2015 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
1000000 shares
CY2015 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.229 pure
CY2015 us-gaap Effective Income Tax Rate Reconciliation Tax Exempt Income
EffectiveIncomeTaxRateReconciliationTaxExemptIncome
-0.551 pure
CY2015 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
76637000
CY2015 us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
21255000
CY2015 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
8000
CY2015 us-gaap Payments Of Dividends
PaymentsOfDividends
173022000
CY2015 us-gaap Interest Income Operating
InterestIncomeOperating
201345000
CY2015 us-gaap Payments For Federal Home Loan Bank Advances
PaymentsForFederalHomeLoanBankAdvances
577484000
CY2015 us-gaap Other Income
OtherIncome
8283000
CY2015 us-gaap Net Income Loss
NetIncomeLoss
90100000
CY2015 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
88411000
CY2015 us-gaap Interest On Convertible Debt Net Of Tax
InterestOnConvertibleDebtNetOfTax
8468000
CY2015 us-gaap Revenues
Revenues
248765000
CY2015 us-gaap Payments For Derivative Instrument Investing Activities
PaymentsForDerivativeInstrumentInvestingActivities
6809000
CY2015 us-gaap Interest Paid
InterestPaid
117223000
CY2015 us-gaap Gain Loss On Investments
GainLossOnInvestments
53985000
CY2015 us-gaap Contractually Specified Servicing Fees Amount
ContractuallySpecifiedServicingFeesAmount
97633000
CY2015 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
16338000
CY2015 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
0
CY2015 us-gaap Payments To Acquire Loans Held For Investment
PaymentsToAcquireLoansHeldForInvestment
241981000
CY2015 us-gaap Performance Fees
PerformanceFees
100
CY2015 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
36161000
CY2015 us-gaap Net Income Loss Attributable To Parent Diluted
NetIncomeLossAttributableToParentDiluted
88411000
CY2015 us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
719000
CY2015 us-gaap Federal Home Loan Bank Advances Activity For Year Average Balance Of Agreements Outstanding
FederalHomeLoanBankAdvancesActivityForYearAverageBalanceOfAgreementsOutstanding
89512000
CY2015 us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
84828000
CY2015 us-gaap Contractually Specified Servicing Fees Late Fees And Ancillary Fees Earned In Exchange For Servicing Financial Assets
ContractuallySpecifiedServicingFeesLateFeesAndAncillaryFeesEarnedInExchangeForServicingFinancialAssets
102147000
CY2015 us-gaap Income Tax Reconciliation Tax Exempt Income
IncomeTaxReconciliationTaxExemptIncome
40366000
CY2015 us-gaap Gain Loss On Sales Of Loans Net
GainLossOnSalesOfLoansNet
51016000
CY2015 us-gaap Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
-8148000
CY2015 us-gaap Payments For Proceeds From Short Term Investments
PaymentsForProceedsFromShortTermInvestments
-98035000
CY2015 us-gaap Valuation Allowance For Impairment Of Recognized Servicing Assets Provisions Recoveries
ValuationAllowanceForImpairmentOfRecognizedServicingAssetsProvisionsRecoveries
3229000
CY2015 us-gaap Servicing Fees Net
ServicingFeesNet
49319000
CY2015 us-gaap Increase Decrease Due From Affiliates
IncreaseDecreaseDueFromAffiliates
1863000
CY2015 us-gaap Payments To Acquire Federal Home Loan Bank Stock
PaymentsToAcquireFederalHomeLoanBankStock
7691000
CY2015 us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
24951000
CY2015 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
73304000
CY2015 us-gaap Servicing Asset At Fair Value Disposals
ServicingAssetAtFairValueDisposals
0
CY2015 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Restricted Stock Units Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition
6346000
CY2015 us-gaap Transfer Of Other Real Estate
TransferOfOtherRealEstate
8827000
CY2015 us-gaap Payment For Incentive Fee
PaymentForIncentiveFee
10
CY2015 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
1116000
CY2015 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
96879000
CY2015 us-gaap Payments To Acquire Mortgage Servicing Rights Msr
PaymentsToAcquireMortgageServicingRightsMSR
2335000
CY2015 us-gaap Transfer Of Loans Held For Sale To Portfolio Loans1
TransferOfLoansHeldForSaleToPortfolioLoans1
0
CY2015 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-16796000
CY2015 us-gaap Other Expenses
OtherExpenses
21157000
CY2015 us-gaap Share Based Compensation
ShareBasedCompensation
6346000
CY2015 us-gaap Proceeds From Sale Of Federal Home Loan Bank Stock
ProceedsFromSaleOfFederalHomeLoanBankStock
361000
CY2015 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-13124000
CY2015 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-4547000
CY2015 us-gaap Deferred Other Tax Expense Benefit
DeferredOtherTaxExpenseBenefit
-216000
CY2015 us-gaap Mortgage Servicing Rights Msr Impairment Recovery
MortgageServicingRightsMSRImpairmentRecovery
53615000
CY2015 us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
0
CY2015 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
737000
CY2015 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
0
CY2015 us-gaap Operating Expenses
OperatingExpenses
175461000
CY2015 us-gaap Interest Expense
InterestExpense
124708000
CY2015 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
11502000
CY2015 us-gaap Proceeds From Sale And Collection Of Loans Receivable
ProceedsFromSaleAndCollectionOfLoansReceivable
279683000
CY2015 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
833408000
CY2015 us-gaap Transfer To Other Real Estate
TransferToOtherRealEstate
8827000
CY2015 us-gaap Amortization Of Mortgage Servicing Rights Ms Rs
AmortizationOfMortgageServicingRightsMSRs
43982000
CY2015 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-17671000
CY2015 us-gaap Interest Expense Federal Home Loan Bank And Federal Reserve Bank Advances Short Term
InterestExpenseFederalHomeLoanBankAndFederalReserveBankAdvancesShortTerm
275000
CY2015 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
8000
CY2015 us-gaap Management Fee Expense
ManagementFeeExpense
24194000
CY2015 us-gaap Proceeds From Federal Home Loan Bank Advances
ProceedsFromFederalHomeLoanBankAdvances
760484000
CY2015 us-gaap Proceeds From Sale Of Real Estate
ProceedsFromSaleOfRealEstate
240833000
CY2015 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
204000
CY2015 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
7984000
CY2015 us-gaap Loan Portfolio Expense
LoanPortfolioExpense
46423000
CY2015 us-gaap Increase Decrease In Income Taxes
IncreaseDecreaseInIncomeTaxes
-17912000
CY2015 us-gaap Servicing Asset At Amortized Value Additions
ServicingAssetAtAmortizedValueAdditions
140511000
CY2015 us-gaap Increase Decrease In Due To Affiliates
IncreaseDecreaseInDueToAffiliates
-4742000
CY2015 us-gaap Proceeds From Sale Of Loans Receivable
ProceedsFromSaleOfLoansReceivable
1466000
CY2015 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
671000
CY2015 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
875000
CY2015 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
25656000
CY2015 us-gaap Labor And Related Expense
LaborAndRelatedExpense
7366000
CY2015 us-gaap Professional Fees
ProfessionalFees
7306000
CY2015 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
16338000
CY2015 us-gaap Proceeds From Sale Of Mortgage Servicing Rights Msr
ProceedsFromSaleOfMortgageServicingRightsMSR
752000
CY2015 us-gaap Repurchase Agreements Interest Expense Amount
RepurchaseAgreementsInterestExpenseAmount
79869000
CY2015 us-gaap Proceeds From Sale Of Mortgage Loans Held For Sale
ProceedsFromSaleOfMortgageLoansHeldForSale
14206816000
CY2015 us-gaap Federal Home Loan Bank Advances General Debt Obligations Disclosures Repayment And Penalties
FederalHomeLoanBankAdvancesGeneralDebtObligationsDisclosuresRepaymentAndPenalties
83000000
CY2015 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
1689000
CY2015 us-gaap Servicing Asset At Fair Value Changes In Fair Value Resulting From Changes In Valuation Inputs Or Changes In Assumptions
ServicingAssetAtFairValueChangesInFairValueResultingFromChangesInValuationInputsOrChangesInAssumptions
312000
CY2015 us-gaap Servicing Asset At Fair Value Other Changes In Fair Value
ServicingAssetAtFairValueOtherChangesInFairValue
-7384000
CY2015 us-gaap Dividends Common Stock
DividendsCommonStock
162175000
CY2015 us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
46237000
CY2015 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-2823000
CY2015 pmt Amended Agreement Description
AmendedAgreementDescription
The Company amended its management agreement to provide that the total costs and expenses incurred by PFSI in any quarter and reimbursable by the Company is capped at an amount equal to the quotient of (i) the product of (A) 70 basis points (0.0070), multiplied by (B) shareholders' equity (as defined in the management agreement) as of the last day of such quarter, divided by (ii) four (4).
CY2015 pmt Percentage Of Ordinary Income
PercentageOfOrdinaryIncome
0.41 pure
CY2015 pmt Proceeds From Sales And Repayments Of Agency Debt
ProceedsFromSalesAndRepaymentsOfAgencyDebt
0
CY2015 pmt Proceeds From Sale Of Mortgage Loans Held For Sale To Affiliates
ProceedsFromSaleOfMortgageLoansHeldForSaleToAffiliates
31490920000
CY2015 pmt Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested And Expected To Vest Weighted Average Remaining Contractual Term
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedAndExpectedToVestWeightedAverageRemainingContractualTerm
P20M
CY2015 pmt Net Gain Loss On Investments
NetGainLossOnInvestments
53985000
CY2015 pmt Services Fee Annual Rate
ServicesFeeAnnualRate
0.0025 pure
CY2015 pmt Transfer Of Mortgage Loans Under Forward Purchase Agreements To Mortgage Loans
TransferOfMortgageLoansUnderForwardPurchaseAgreementsToMortgageLoans
0
CY2015 pmt Servicing Fee Percentage
ServicingFeePercentage
0.00250 pure
CY2015 pmt Percentage Of Income Tax Positions Likely To Be Realized
PercentageOfIncomeTaxPositionsLikelyToBeRealized
0.50 pure
CY2015 pmt Mortgage Loan Hedging Activities Cash Gain Loss
MortgageLoanHedgingActivitiesCashGainLoss
-17742000
CY2015 pmt Loans Delinquent Period
LoansDelinquentPeriod
90 or more days
CY2015 pmt Increase Decrease Of Excess Servicing Spread Recapture Receivable From Affiliates
IncreaseDecreaseOfExcessServicingSpreadRecaptureReceivableFromAffiliates
6728000
CY2015 pmt Deferred Income Tax Expense Benefit Mortgage Servicing Rights
DeferredIncomeTaxExpenseBenefitMortgageServicingRights
31324000
CY2015 pmt Loan Fulfillment Fees Payable To Affiliate
LoanFulfillmentFeesPayableToAffiliate
58607000
CY2015 pmt Services Agreement Expiration Date
ServicesAgreementExpirationDate
2017-02-01
CY2015 pmt Fair Value Purchased Of Mortgage Loans For Investment Portfolio
FairValuePurchasedOfMortgageLoansForInvestmentPortfolio
241981000
CY2015 pmt Percentage Of Return Of Capital
PercentageOfReturnOfCapital
0.34 pure
CY2015 pmt Share Based Compensation Cash And Noncash
ShareBasedCompensationCashAndNoncash
6345000
CY2015 pmt Amortized Cost Unpaid Principal Balance Of Underlying Loans
AmortizedCostUnpaidPrincipalBalanceOfUnderlyingLoans
12195574000
CY2015 pmt Repayment Of Borrowings Under Forward Purchase Agreement
RepaymentOfBorrowingsUnderForwardPurchaseAgreement
0
CY2015 pmt Fair Value Purchased Of Mortgage Loans Investment Portfolio Purchases From Or Through One Or More Subsidiaries
FairValuePurchasedOfMortgageLoansInvestmentPortfolioPurchasesFromOrThroughOneOrMoreSubsidiaries
0
CY2015 pmt Securities Sold Under Agreements To Repurchase Weighted Average Interest Rate At Period End
SecuritiesSoldUnderAgreementsToRepurchaseWeightedAverageInterestRateAtPeriodEnd
0.0233 pure
CY2015 pmt Basis Point For Mortgage Loan
BasisPointForMortgageLoan
0.0050 pure
CY2015 pmt Repayments Of Assets Sold Under Agreements To Repurchase
RepaymentsOfAssetsSoldUnderAgreementsToRepurchase
49733160000
CY2015 pmt Payments To Purchase Agency Debt Securities
PaymentsToPurchaseAgencyDebtSecurities
0
CY2015 pmt Fair Value Unpaid Principal Balance Of Underlying Loans
FairValueUnpaidPrincipalBalanceOfUnderlyingLoans
1430795000
CY2015 pmt Transfers From Reo Under Forward Purchases Agreements
TransfersFromReoUnderForwardPurchasesAgreements
0
CY2015 pmt Fair Value Of Reo Purchased From Or Through One Or More Subsidiaries
FairValueOfReoPurchasedFromOrThroughOneOrMoreSubsidiaries
0
CY2015 pmt Convertible Debt Average Balance During Period
ConvertibleDebtAverageBalanceDuringPeriod
250000000
CY2015 pmt Average Balance During Period For Servicing Assets Portfolio
AverageBalanceDuringPeriodForServicingAssetsPortfolio
38450379000
CY2015 pmt Payments To Purchase Mortgage Loans Held For Sale Affiliates
PaymentsToPurchaseMortgageLoansHeldForSaleAffiliates
28445000
CY2015 pmt States Contributing Five Percentage Of Mortgage Loans
StatesContributingFivePercentageOfMortgageLoans
New York New Jersey Florida
CY2015 pmt Real Estate Acquired In Satisfaction Of Debt
RealEstateAcquiredInSatisfactionOfDebt
307455000
CY2015 pmt Provisions For Representations And Warranties Losses
ProvisionsForRepresentationsAndWarrantiesLosses
5771000
CY2015 pmt Securities Sold Under Agreements Available Borrowing Capacity
SecuritiesSoldUnderAgreementsAvailableBorrowingCapacity
893669000
CY2015 pmt Fair Value Of Reo Purchased During Year
FairValueOfReoPurchasedDuringYear
0
CY2015 pmt Repayments Of Excess Servicing Spread Investment
RepaymentsOfExcessServicingSpreadInvestment
78578000
CY2015 pmt Sourcing Fee On Unpaid Principal Balance
SourcingFeeOnUnpaidPrincipalBalance
0.0003 pure
CY2015 pmt Initial Interest Rates
InitialInterestRates
More than 4.5%
CY2015 pmt Agreement Effective Date
AgreementEffectiveDate
2013-02-01
CY2015 pmt Securities Sold Under Agreements Available Borrowing Capacity Uncommitted
SecuritiesSoldUnderAgreementsAvailableBorrowingCapacityUncommitted
661756000
CY2015 pmt Loan Originations Fees
LoanOriginationsFees
28702000
CY2015 pmt Representations And Warranties Losses Incurred
RepresentationsAndWarrantiesLossesIncurred
176000
CY2015 pmt Repayments Of Mortgage Loan Participation Certificates
RepaymentsOfMortgageLoanParticipationCertificates
5029301000
CY2015 pmt Fair Value Weighted Average Coupon Interest Rate
FairValueWeightedAverageCouponInterestRate
0.047 pure
CY2015 pmt Proceeds From Sale Of Mortgage Loan Participation Certificates
ProceedsFromSaleOfMortgageLoanParticipationCertificates
5009065000
CY2015 pmt Aggregate Non Cash Portion Of Gain Loss On Mortgage Loans Acquired For Sale
AggregateNonCashPortionOfGainLossOnMortgageLoansAcquiredForSale
-3031000
CY2015 pmt Gains Losses Real Estate Owned Net
GainsLossesRealEstateOwnedNet
-19177000
CY2015 pmt Increase Decrease In Servicing Advances
IncreaseDecreaseInServicingAdvances
30255000
CY2015 pmt Change In Fair Value Relating To Mortgage Loans Still Held At Period End
ChangeInFairValueRelatingToMortgageLoansStillHeldAtPeriodEnd
-2977000
CY2015 pmt Proceeds From Sale Of Real Estate Acquired In Settlement Of Loans
ProceedsFromSaleOfRealEstateAcquiredInSettlementOfLoans
240833000
CY2015 pmt Proceeds From Sale Of Assets Under Agreements To Repurchase
ProceedsFromSaleOfAssetsUnderAgreementsToRepurchase
50133359000
CY2015 pmt Payment Of Contingent Underwriting Fees
PaymentOfContingentUnderwritingFees
705000
CY2015 pmt Percentage Of Distributions Characterized As Long Term Capital Gain
PercentageOfDistributionsCharacterizedAsLongTermCapitalGain
0.25 pure
CY2015 pmt Other Operating Income Loss Net
OtherOperatingIncomeLossNet
17808000
CY2015 pmt Amortized Cost Unpaid Principal Balance Of Underlying Loans Period End
AmortizedCostUnpaidPrincipalBalanceOfUnderlyingLoansPeriodEnd
35841654000
CY2015 pmt Receipt Of Mortgage Servicing Rights As Proceeds From Sales Of Loans
ReceiptOfMortgageServicingRightsAsProceedsFromSalesOfLoans
154474000
CY2015 pmt Deferred Income Tax Expense Benefit Of Liability Losses Under Representation And Warranties
DeferredIncomeTaxExpenseBenefitOfLiabilityLossesUnderRepresentationAndWarranties
2467000
CY2015 pmt Deferred Income Tax Expense Benefit Of Operating Loss Carryforward
DeferredIncomeTaxExpenseBenefitOfOperatingLossCarryforward
-33297000
CY2015 pmt Mortgage Loans Description Of Variable Rate Basis
MortgageLoansDescriptionOfVariableRateBasis
Note interest rate pools of 50 basis points for note interest rates between 3.0% and 4.5% and a single pool for note interest rates below 3%. Adjustable rate mortgage loans with initial interest rates of 4.5% or less are evaluated in a single pool.
CY2015 pmt Loan Fulfillment Servicing And Management Fees Payable To Affiliate
LoanFulfillmentServicingAndManagementFeesPayableToAffiliate
129224000
CY2015 pmt Net Results Of Real Estate Acquired In Settlement Of Loans
NetResultsOfRealEstateAcquiredInSettlementOfLoans
-19177000
CY2015 pmt Federal Home Loan Bank Advances Maturity Date
FederalHomeLoanBankAdvancesMaturityDate
2016-03-03
CY2015 pmt Mortgage Loans Description
MortgageLoansDescription
Note interest rate pools of 50 basis points
CY2015 pmt Real Estate Acquired In Satisfaction Of Debt Under Forward Purchase Agreements
RealEstateAcquiredInSatisfactionOfDebtUnderForwardPurchaseAgreements
0
CY2015 pmt Aggregate Cash Gain Loss On Sale Of Mortgage Loans Acquired For Sale Net Of Cash Hedging Results
AggregateCashGainLossOnSaleOfMortgageLoansAcquiredForSaleNetOfCashHedgingResults
-94656000
CY2015 pmt Representations And Warranties Recovery
RepresentationsAndWarrantiesRecovery
334000
CY2015 pmt Amortized Cost Weighted Average Coupon Interest Rate
AmortizedCostWeightedAverageCouponInterestRate
0.039 pure
CY2015 pmt Sales Of Real Estate Acquired In Settlement Of Loans Under Forward Purchase Agreement
SalesOfRealEstateAcquiredInSettlementOfLoansUnderForwardPurchaseAgreement
0
CY2015 pmt Weighted Average Servicing Fee Rate Amortized Cost
WeightedAverageServicingFeeRateAmortizedCost
0.0026 pure
CY2015 pmt Net Operating Loss Carry Forwards Expiration Date
NetOperatingLossCarryForwardsExpirationDate
2035
CY2015 pmt Mortgage Servicing Rights Recapture From Affiliate
MortgageServicingRightsRecaptureFromAffiliate
787000
CY2015 pmt Repurchase Of Mortgage Loans Subject To Representation And Warranties
RepurchaseOfMortgageLoansSubjectToRepresentationAndWarranties
17782000
CY2015 pmt Mortgage Servicing Rights Fair Value Purchases
MortgageServicingRightsFairValuePurchases
2335000
CY2015 pmt Securities Sold Under Agreements To Repurchase Weighted Average Interest Rate During Period
SecuritiesSoldUnderAgreementsToRepurchaseWeightedAverageInterestRateDuringPeriod
0.0233 pure
CY2015 pmt Fair Value Of Mortgage Loans Purchased From Or Through One Or More Subsidiaries
FairValueOfMortgageLoansPurchasedFromOrThroughOneOrMoreSubsidiaries
0
CY2015 pmt Servicing Asset At Fair Value Additions From Loan Sales
ServicingAssetAtFairValueAdditionsFromLoanSales
13963000
CY2015 pmt Change In Fair Value Of Commitments To Purchase Loans
ChangeInFairValueOfCommitmentsToPurchaseLoans
-1015000
CY2015 pmt Gain On Sale Of Mortgage Servicing Rights
GainOnSaleOfMortgageServicingRights
187000
CY2015 pmt Payments To Purchase Excess Servicing Spread
PaymentsToPurchaseExcessServicingSpread
271554000
CY2015 pmt Service Agreement Maturity Renewal Term
ServiceAgreementMaturityRenewalTerm
P18M
CY2015 pmt Repayments Of Mortgage Loans Under Forward Purchase Agreement At Fair Value
RepaymentsOfMortgageLoansUnderForwardPurchaseAgreementAtFairValue
0
CY2015 pmt Fair Value Of Mortgage Loan Purchased During Year
FairValueOfMortgageLoanPurchasedDuringYear
241981000
CY2015 pmt Contingent Underwriting Fee Payments To Underwriters
ContingentUnderwritingFeePaymentsToUnderwriters
473000
CY2015 pmt Transfer Mortgage Loans Financed To Reo Financed
TransferMortgageLoansFinancedToReoFinanced
85134000
CY2015 pmt Purchases Of Real Estate Acquired In Settlement Of Loans
PurchasesOfRealEstateAcquiredInSettlementOfLoans
0
CY2015 pmt Gain Loss On Sale Of Mortgage Loans Acquired For Sale Cash Portion
GainLossOnSaleOfMortgageLoansAcquiredForSaleCashPortion
-76914000
CY2015 pmt Percentage Of Amortized Cost
PercentageOfAmortizedCost
0.25 pure
CY2015 pmt Capitalization Of Interest And Advances On Mortgage Loans At Fair Value
CapitalizationOfInterestAndAdvancesOnMortgageLoansAtFairValue
57754000
CY2015 pmt Sales Of Mortgage Servicing Rights Carried At Lower Of Amortized Cost Or Fair Value
SalesOfMortgageServicingRightsCarriedAtLowerOfAmortizedCostOrFairValue
565000
CY2015 pmt Mortgage Servicing Rights Fair Value Option Threshold Loan Interest Rate
MortgageServicingRightsFairValueOptionThresholdLoanInterestRate
0.045 pure
CY2015 pmt Payment Of Debt Issuance Cost And Commitment Fees
PaymentOfDebtIssuanceCostAndCommitmentFees
10928000
CY2015 pmt Change In Fair Value Hedging Instruments Still Held At Period End
ChangeInFairValueHedgingInstrumentsStillHeldAtPeriodEnd
961000
CY2015 pmt Deferred Income Tax Expense Benefit Real Estate Valuation Loss
DeferredIncomeTaxExpenseBenefitRealEstateValuationLoss
1577000
CY2015 pmt Amortization Of Credit Facility Commitment Fees And Debt Issuance Costs
AmortizationOfCreditFacilityCommitmentFeesAndDebtIssuanceCosts
11587000
CY2015 pmt Payments To Purchase Mortgage Loans Held For Sale Nonaffiliates
PaymentsToPurchaseMortgageLoansHeldForSaleNonaffiliates
46423734000
CY2015 pmt Reit Qualification Threshold Percentage Of Taxable Income For Distribution
ReitQualificationThresholdPercentageOfTaxableIncomeForDistribution
0.90 pure
CY2015 pmt Accrual Reversal Of Costs Related To Forward Purchase Agreement
AccrualReversalOfCostsRelatedToForwardPurchaseAgreement
0
CY2015 pmt Proceeds From Secured Notes Payable Under Mortgage Servicing Rights
ProceedsFromSecuredNotesPayableUnderMortgageServicingRights
394242000
CY2015 pmt Proceeds From Credit Risk Transfer
ProceedsFromCreditRiskTransfer
1204187000
CY2015 pmt Note Payable Weighted Average Interest Rate During Period
NotePayableWeightedAverageInterestRateDuringPeriod
0.0431 pure
CY2015 pmt Note Payable Average Balance During Period
NotePayableAverageBalanceDuringPeriod
119307000
CY2015 pmt Note Payable Interest Expense During Period
NotePayableInterestExpenseDuringPeriod
6826000
CY2015 pmt Note Payable Maximum Daily Amount Outstanding
NotePayableMaximumDailyAmountOutstanding
236107000
CY2015 pmt Note Payable Weighted Average Interest Rate
NotePayableWeightedAverageInterestRate
0.0453 pure
CY2015 pmt Repayments Of Credit Risk Transfer
RepaymentsOfCreditRiskTransfer
1204187000
CY2015 pmt Purchase Of Mortgage Loans Financed Through Forward Purchase Agreements From Financing Activities
PurchaseOfMortgageLoansFinancedThroughForwardPurchaseAgreementsFromFinancingActivities
0
CY2015 pmt Purchase Of Real Estate Financed Through Forward Purchase Agreements From Financing Activities
PurchaseOfRealEstateFinancedThroughForwardPurchaseAgreementsFromFinancingActivities
0
CY2015 pmt Purchase Of Mortgage Loans Financed Through Forward Purchase Agreements From Investing Activities
PurchaseOfMortgageLoansFinancedThroughForwardPurchaseAgreementsFromInvestingActivities
0
CY2015 pmt Repayments Of Secured Notes Payable Under Mortgage Servicing Rights
RepaymentsOfSecuredNotesPayableUnderMortgageServicingRights
158343000
CY2015 pmt Proceeds From Sale Of Asset Backed Secured Financing
ProceedsFromSaleOfAssetBackedSecuredFinancing
110482000
CY2015 pmt Assets Sold Under Agreements To Repurchase Average Balance
AssetsSoldUnderAgreementsToRepurchaseAverageBalance
3046963000
CY2015 pmt Asset Sold Under Agreements To Repurchase Maximum Daily Amount Outstanding
AssetSoldUnderAgreementsToRepurchaseMaximumDailyAmountOutstanding
4710412000
CY2015 pmt Assets Sold Under Agreements Available Borrowing Capacity Committed
AssetsSoldUnderAgreementsAvailableBorrowingCapacityCommitted
231913000
CY2015 pmt Federal Home Loan Bank Advances Weighted Average Interest Rate During Period
FederalHomeLoanBankAdvancesWeightedAverageInterestRateDuringPeriod
0.0030 pure
CY2015 pmt Purchase Of Real Estate Financed Through Forward Purchase Agreements From Investing Activities
PurchaseOfRealEstateFinancedThroughForwardPurchaseAgreementsFromInvestingActivities
0
CY2015 pmt Mortgage Loan Collection And Liquidation Expenses
MortgageLoanCollectionAndLiquidationExpenses
10408000
CY2015 pmt Proceeds From Sale And Repayments Of Mortgage Backed Securities Mbs At Fair Value
ProceedsFromSaleAndRepaymentsOfMortgageBackedSecuritiesMbsAtFairValue
64459000
CY2015 pmt Deposits Of Cash Collateral Securing Credit Risk Transfer Agreements
DepositsOfCashCollateralSecuringCreditRiskTransferAgreements
147446000
CY2015 pmt Distributions From Credit Risk Transfer Agreements
DistributionsFromCreditRiskTransferAgreements
1831000
CY2015 pmt Capitalization Of Interest On Excess Servicing Spread
CapitalizationOfInterestOnExcessServicingSpread
25365000
CY2015 pmt Fair Value Of Vested Units During The Year
FairValueOfVestedUnitsDuringTheYear
5928569
CY2015 pmt Transfer Of Mortgage Loans Acquired For Sale To Mortgage Loans At Fair Value
TransferOfMortgageLoansAcquiredForSaleToMortgageLoansAtFairValue
23859000
CY2015 pmt Deferred Income Tax Expense Benefit Excess Interest Expense Disallowance
DeferredIncomeTaxExpenseBenefitExcessInterestExpenseDisallowance
15384000
CY2015 pmt Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Estimated Vesting Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsEstimatedVestingRate
1.00 pure
CY2014Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.50
CY2014Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.59
CY2014Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.52
CY2014Q1 us-gaap Net Income Loss
NetIncomeLoss
37873000
CY2014Q1 us-gaap Revenues
Revenues
76595000
CY2015Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.09
CY2015Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.61
CY2015Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.09
CY2015Q1 us-gaap Net Income Loss
NetIncomeLoss
7508000
CY2015Q1 us-gaap Revenues
Revenues
37657000
CY2014Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.93
CY2014Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.59
CY2014Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.01
CY2014Q2 us-gaap Net Income Loss
NetIncomeLoss
75211000
CY2014Q2 us-gaap Revenues
Revenues
120556000
CY2015Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.36
CY2015Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.61
CY2015Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.37
CY2015Q2 us-gaap Net Income Loss
NetIncomeLoss
28071000
CY2015Q2 us-gaap Revenues
Revenues
69765000
CY2014Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.69
CY2014Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.61
CY2014Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.74
CY2014Q3 us-gaap Net Income Loss
NetIncomeLoss
54949000
CY2014Q3 us-gaap Revenues
Revenues
106530000
CY2015Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.49
CY2015Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.47
CY2015Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.51
CY2015Q3 us-gaap Net Income Loss
NetIncomeLoss
38812000
CY2015Q3 us-gaap Revenues
Revenues
90774000
CY2014Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.34
CY2014Q4 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.61
CY2014Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.35
CY2014Q4 us-gaap Net Income Loss
NetIncomeLoss
26511000
CY2014Q4 us-gaap Revenues
Revenues
53059000
CY2015Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.21
CY2015Q4 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.47
CY2015Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.21
CY2015Q4 us-gaap Net Income Loss
NetIncomeLoss
15709000
CY2015Q4 us-gaap Revenues
Revenues
50569000

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