2017 Q3 Form 10-Q Financial Statement

#000156459017022699 Filed on November 08, 2017

View on sec.gov

Income Statement

Concept 2017 Q3 2016 Q4 2016 Q3
Revenue $75.80M $68.93M $103.3M
YoY Change -26.64% 36.3% 13.83%
Cost Of Revenue $84.30M $92.60M $89.90M
YoY Change -6.23% 28.08% 23.49%
Gross Profit $31.80M $17.20M $53.80M
YoY Change -40.89% 75.51% -3.41%
Gross Profit Margin 41.95% 24.95% 52.07%
Selling, General & Admin $2.400M $3.400M $2.600M
YoY Change -7.69% -8.11% -21.21%
% of Gross Profit 7.55% 19.77% 4.83%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $51.64M $3.300M $58.31M
YoY Change -11.45% 17.86% 27.69%
Operating Profit -$19.84M $13.90M -$4.512M
YoY Change 339.67% 98.57% -144.97%
Interest Expense $40.33M
YoY Change 6.81%
% of Operating Profit
Other Income/Expense, Net $5.199M $3.944M
YoY Change 31.82% -27.95%
Pretax Income $24.17M $13.90M $45.01M
YoY Change -46.31% 101.45% -0.21%
Income Tax $4.771M -$17.30M $9.606M
% Of Pretax Income 19.74% -124.46% 21.34%
Net Earnings $19.40M $31.17M $35.41M
YoY Change -45.22% 98.45% -8.77%
Net Earnings / Revenue 25.59% 45.23% 34.27%
Basic Earnings Per Share $0.20 $0.46 $0.52
Diluted Earnings Per Share $0.20 $0.44 $0.49
COMMON SHARES
Basic Shares Outstanding 66.64M 66.70M 67.55M
Diluted Shares Outstanding 66.64M 76.33M

Balance Sheet

Concept 2017 Q3 2016 Q4 2016 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $100.0M $34.00M $139.0M
YoY Change -28.06% -41.38% 56.18%
Cash & Equivalents $99.52M $34.48M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $167.0M $118.0M $223.0M
YoY Change -25.11% -23.87% 25.28%
LONG-TERM ASSETS
Property, Plant & Equipment $43.00M $29.00M $26.00M
YoY Change 65.38% 222.22% 550.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $1.837B $0.00 $1.450B
YoY Change 26.69% 89.3%
Other Assets
YoY Change
Total Long-Term Assets $5.618B $6.240B $6.396B
YoY Change -12.16% 10.01% 18.13%
TOTAL ASSETS
Total Short-Term Assets $167.0M $118.0M $223.0M
Total Long-Term Assets $5.618B $6.240B $6.396B
Total Assets $5.785B $6.358B $6.619B
YoY Change -12.6% 9.11% 18.36%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $16.00M $16.00M $15.00M
YoY Change 6.67% -15.79% -11.76%
Accrued Expenses $6.000M $4.000M $2.000M
YoY Change 200.0%
Deferred Revenue
YoY Change
Short-Term Debt $3.476B $3.934B $150.0M
YoY Change 2217.03% 2522.67% 0.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $3.393B $3.972B $277.0M
YoY Change 1124.91% 929.02% -29.52%
LONG-TERM LIABILITIES
Long-Term Debt $689.0M $901.0M $915.0M
YoY Change -24.7% 23.59% 24.83%
Other Long-Term Liabilities $15.00M $25.00M $4.058B
YoY Change -99.63% -99.21% 40.66%
Total Long-Term Liabilities $704.0M $926.0M $4.973B
YoY Change -85.84% -76.14% 37.45%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.393B $3.972B $277.0M
Total Long-Term Liabilities $704.0M $926.0M $4.973B
Total Liabilities $4.174B $5.006B $5.264B
YoY Change -20.7% 15.6% 29.09%
SHAREHOLDERS EQUITY
Retained Earnings -$26.72M
YoY Change -204.17%
Common Stock $1.378B
YoY Change -6.3%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.611B $1.351B $1.355B
YoY Change
Total Liabilities & Shareholders Equity $5.785B $6.358B $6.619B
YoY Change -12.6% 9.11% 18.36%

Cashflow Statement

Concept 2017 Q3 2016 Q4 2016 Q3
OPERATING ACTIVITIES
Net Income $19.40M $31.17M $35.41M
YoY Change -45.22% 98.45% -8.77%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$4.100M $170.2M -$613.3M
YoY Change -99.33% -150.5% -154.07%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $286.2M $25.80M -$147.0M
YoY Change -294.69% -68.03% 553.33%
Cash From Investing Activities $286.2M $25.80M -$147.0M
YoY Change -294.69% -68.03% 553.33%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -252.6M -300.4M 803.6M
YoY Change -131.43% -233.51% -170.68%
NET CHANGE
Cash From Operating Activities -4.100M 170.2M -613.3M
Cash From Investing Activities 286.2M 25.80M -147.0M
Cash From Financing Activities -252.6M -300.4M 803.6M
Net Change In Cash 29.50M -104.4M 43.30M
YoY Change -31.87% 233.55% -271.15%
FREE CASH FLOW
Cash From Operating Activities -$4.100M $170.2M -$613.3M
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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PaymentsForFederalHomeLoanBankAdvances
0
us-gaap Payments For Federal Home Loan Bank Advances
PaymentsForFederalHomeLoanBankAdvances
211000000
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
135000000
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
103554000
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
330000000
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
143518000
pmt Proceeds From Sale Of Asset Backed Secured Financing
ProceedsFromSaleOfAssetBackedSecuredFinancing
0
pmt Proceeds From Sale Of Asset Backed Secured Financing
ProceedsFromSaleOfAssetBackedSecuredFinancing
182400000
us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
53641000
us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
1928000
us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
0
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
9342000
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
8464000
us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
7830000
us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
0
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
94953000
us-gaap Proceeds From Issuance Of Preferred Stock And Preference Stock
ProceedsFromIssuanceOfPreferredStockAndPreferenceStock
0
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
0
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
18724000
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-633579000
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
704425000
us-gaap Net Cash Provided By Used In Continuing Operations
NetCashProvidedByUsedInContinuingOperations
65039000
us-gaap Net Cash Provided By Used In Continuing Operations
NetCashProvidedByUsedInContinuingOperations
80960000
CY2015Q4 us-gaap Cash
Cash
58108000
CY2016Q3 us-gaap Cash
Cash
139068000
us-gaap Basis Of Accounting
BasisOfAccounting
<div> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">Note 2&#8212;Basis of Presentation</p> <p style="margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:4.54%;">The accompanying consolidated financial statements have been prepared in compliance with accounting principles generally accepted in the United States (&#8220;GAAP&#8221;) as codified in the Financial Accounting Standards Board&#8217;s (&#8220;FASB&#8221;) <font style="font-style:italic;">Accounting Standards Codification</font> (&#8220;ASC&#8221;) for interim financial information and with the Securities and Exchange Commission&#8217;s instructions to Form&#160;10-Q and Rule&#160;10-01 of Regulation&#160;S-X. Accordingly, these financial statements and notes do not include all of the information required by GAAP for complete financial statements. The interim consolidated information should be read together with the Company&#8217;s Annual Report on Form&#160;10-K for the fiscal year ended December&#160;31, 2016.</p> <p style="margin-top:12pt;margin-bottom:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The accompanying unaudited consolidated financial statements reflect all normal recurring adjustments necessary to present fairly the financial position, results of operations, and cash flows for the interim periods, but are not necessarily indicative of the results of operations that may be anticipated for the full year. Intercompany accounts and transactions have been eliminated.</p> <p style="margin-top:12pt;margin-bottom:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">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> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;;font-size:9pt;">&nbsp;</p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;;font-size:9pt;">&nbsp;</p></div>
CY2016Q2 pmt Servicing Asset At Amortized Cost Before Valuation Allowance
ServicingAssetAtAmortizedCostBeforeValuationAllowance
465301000
us-gaap Description Of New Accounting Pronouncements Not Yet Adopted
DescriptionOfNewAccountingPronouncementsNotYetAdopted
<div> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">Note 32&#8212;Recently Issued Accounting Pronouncements</p> <p style="margin-top:6pt;margin-bottom:0pt;font-weight:bold;font-style:italic;font-family:Times New Roman;font-size:10pt;text-transform:none;font-variant: normal;text-indent:4.54%;">Revenue Recognition</p> <p style="margin-top:6pt;margin-bottom:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">In May 2014, the FASB issued ASU 2014-09, <font style="font-style:italic;">Revenue from Contracts with Customers (Subtopic 606)</font> (&#8220;ASU 2014-09&#8221;), which supersedes the guidance in the <font style="font-style:italic;">Revenue Recognition </font>topic of the ASC. ASU 2014-09 clarifies the principles for recognizing revenue in order to improve comparability of revenue recognition practices across entities and industries with certain scope exceptions including financial instruments, leases, and guarantees. ASU 2014-09 provides guidance intended to assist in the identification of contracts with customers and separate performance obligations within those contracts, the determination and allocation of the transaction price to those identified performance obligations and the recognition of revenue when a performance obligation has been satisfied. ASU 2014-09 also requires disclosures regarding the nature, amount, timing, and uncertainty of revenues and cash flows from contracts with customers.</p> <p style="margin-top:12pt;margin-bottom:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Upon adoption, ASU 2014-09 provides for transition through either a full retrospective approach requiring the restatement of all presented prior periods or a modified retrospective approach, which allows the new recognition standard to be applied to only those contracts that are not completed at the date of transition. If the modified retrospective approach is adopted, a cumulative-effect adjustment to retained earnings is performed with additional disclosures required including the amount by which each line item is affected by the transition as compared to the guidance in effect before adoption and an explanation of the reasons for significant changes in these amounts.</p> <p style="margin-top:12pt;margin-bottom:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The FASB has issued several amendments to ASU 2014-09, including:</p> <div align="left"> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:100%;"> <tr> <td valign="top" style="width:4.54%;white-space:nowrap"> <p style="margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> <td valign="top" style="width:4.54%;white-space:nowrap"> <p style="margin-top:6pt;margin-bottom:0pt;font-family:'Times New Roman';font-size:15pt;line-height:11pt;">&#x2022;</p></td> <td valign="top"> <p style="margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">In August 2015, ASU 2015-14, <font style="font-style:italic;">Revenue From Contracts With Customers </font>(&#8220;ASU 2015-14&#8221;). This update deferred the initial effective date of ASU 2014-09. As a result of the issuance of ASU 2015-14, ASU 2014-09 is effective for annual reporting periods beginning on or after December 15, 2017, and interim periods within those annual periods. Early adoption is permitted only as of annual reporting periods beginning after December 15, 2016, including interim reporting periods within that reporting period.</p></td></tr></table></div> <div align="left"> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:100%;"> <tr> <td valign="top" style="width:4.54%;white-space:nowrap"> <p style="margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> <td valign="top" style="width:4.54%;white-space:nowrap"> <p style="margin-top:6pt;margin-bottom:0pt;font-family:'Times New Roman';font-size:15pt;line-height:11pt;">&#x2022;</p></td> <td valign="top"> <p style="margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">In March 2016, ASU 2016-08, <font style="font-style:italic;">Principal Versus Agent Considerations (Reporting Revenue Gross versus Net)</font>. The amendments to this update are intended to improve the implementation guidance on principal versus agent considerations in ASU 2014-09 by clarifying how an entity should identify the unit of accounting (i.e. the specified good or service) and how an entity should apply the control principle to certain types of arrangements.</p></td></tr></table></div> <div align="left"> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:100%;"> <tr> <td valign="top" style="width:4.54%;white-space:nowrap"> <p style="margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> <td valign="top" style="width:4.54%;white-space:nowrap"> <p style="margin-top:6pt;margin-bottom:0pt;font-family:'Times New Roman';font-size:15pt;line-height:11pt;">&#x2022;</p></td> <td valign="top"> <p style="margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">In May 2016, ASU 2016-12, <font style="font-style:italic;">Narrow-Scope Improvements and Practical Expedients</font>. The amendments to this update clarify certain core recognition principles and provide practical expedients available at transition. The improvements address collectability, sales tax presentation, noncash consideration, contract modifications and completed contracts at transition.</p></td></tr></table></div> <div align="left"> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:100%;"> <tr> <td valign="top" style="width:4.54%;white-space:nowrap"> <p style="margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> <td valign="top" style="width:4.54%;white-space:nowrap"> <p style="margin-top:6pt;margin-bottom:0pt;font-family:'Times New Roman';font-size:15pt;line-height:11pt;">&#x2022;</p></td> <td valign="top"> <p style="margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">In December 2016, ASU 2016-20, <font style="font-style:italic;">Technical Corrections and Improvements to Topic 606, Revenue from Contracts with Customers</font>. The amendments to this update:</p></td></tr></table></div> <div align="left"> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:100%;"> <tr> <td valign="top" style="width:9.06%;white-space:nowrap"> <p style="margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> <td valign="top" style="width:4.54%;white-space:nowrap"> <p style="margin-top:6pt;margin-bottom:0pt;font-family:'Courier New';font-size:10pt;">o</p></td> <td valign="top"> <p style="margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Clarify that guarantee fees within the scope of the <font style="font-style:italic;">Guarantees</font> topic of the ASC (other than product or service warranties) are not within the scope of the <font style="font-style:italic;">Revenue from Contracts with Customers</font> topic of the ASC. Entities should see the <font style="font-style:italic;">Derivatives and Hedging</font> topic of the ASC, for guarantees accounted for as derivatives.</p></td></tr></table></div> <div align="left"> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:100%;"> <tr> <td valign="top" style="width:9.06%;white-space:nowrap"> <p style="margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> <td valign="top" style="width:4.54%;white-space:nowrap"> <p style="margin-top:6pt;margin-bottom:0pt;font-family:'Courier New';font-size:10pt;">o</p></td> <td valign="top"> <p style="margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Clarify the <font style="font-style:italic;">Other Assets and Deferred Costs&#8212;Contracts with Customers</font> subtopic of the ASC that when performing impairment testing an entity should (a) consider expected contract renewals and extensions and (b) include both the amount of consideration it already has received but has not recognized as revenue and the amount it expects to receive in the future.</p></td></tr></table></div> <div align="left"> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:100%;"> <tr> <td valign="top" style="width:9.06%;white-space:nowrap"> <p style="margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> <td valign="top" style="width:4.54%;white-space:nowrap"> <p style="margin-top:6pt;margin-bottom:0pt;font-family:'Courier New';font-size:10pt;">o</p></td> <td valign="top"> <p style="margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Clarify the interaction of impairment testing with guidance in other ASC topics that impairment testing first should be performed on assets not within the scope of the <font style="font-style:italic;">Other Assets and Deferred Costs</font>, <font style="font-style:italic;">Intangibles-Goodwill and Other </font>and the <font style="font-style:italic;">Property, Plant, and Equipment </font>topics (such as assets within the <font style="font-style:italic;">Inventory</font> topic of the ASC), then assets within the scope of the <font style="font-style:italic;">Other Assets and Deferred </font>Costs topic of the ASC, then asset groups and reporting units within the scope of the <font style="font-style:italic;">Other Assets and Deferred Costs</font>, <font style="font-style:italic;">Intangibles-Goodwill and Other</font> and the <font style="font-style:italic;">Property, Plant, and Equipment</font> topics of the ASC.</p></td></tr></table></div> <div align="left"> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:100%;"> <tr> <td valign="top" style="width:9.06%;white-space:nowrap"> <p style="margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> <td valign="top" style="width:4.54%;white-space:nowrap"> <p style="margin-top:6pt;margin-bottom:0pt;font-family:'Courier New';font-size:10pt;">o</p></td> <td valign="top"> <p style="margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Clarify that all contracts within the scope of the <font style="font-style:italic;">Financial Services &#8211; Insurance</font> topic of the ASC are excluded from the scope of the Revenue from Contracts with Customers topic.</p></td></tr></table></div> <div align="left"> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:100%;"> <tr> <td valign="top" style="width:9.06%;white-space:nowrap"> <p style="margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> <td valign="top" style="width:4.54%;white-space:nowrap"> <p style="margin-top:6pt;margin-bottom:0pt;font-family:'Courier New';font-size:10pt;">o</p></td> <td valign="top"> <p style="margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Provide optional exemptions from the disclosure requirement for remaining performance obligations for specific situations in which an entity need not estimate variable consideration to recognize revenue and expands the information that is required to be disclosed when an entity applies one of the optional exemptions.</p></td></tr></table></div> <div align="left"> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:100%;"> <tr> <td valign="top" style="width:9.06%;white-space:nowrap"> <p style="margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> <td valign="top" style="width:4.54%;white-space:nowrap"> <p style="margin-top:6pt;margin-bottom:0pt;font-family:'Courier New';font-size:10pt;">o</p></td> <td valign="top"> <p style="margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Clarify that the disclosure of revenue recognized from performance obligations satisfied (or partially satisfied) in previous periods applies to all performance obligations and is not limited to performance obligations with corresponding contract balances.</p></td></tr></table></div> <div align="left"> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:100%;"> <tr> <td valign="top" style="width:4.54%;white-space:nowrap"> <p style="margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> <td valign="top" style="width:4.54%;white-space:nowrap"> <p style="margin-top:6pt;margin-bottom:0pt;font-family:'Times New Roman';font-size:15pt;line-height:11pt;">&#x2022;</p></td> <td valign="top"> <p style="margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">In February 2017, ASU 2017-05, <font style="font-style:italic;">Other Income&#8212;Gains and Losses from the Derecognition of</font> <font style="font-style:italic;">Nonfinancial Assets (Subtopic 610-20)</font> (&#8220;ASU 2017-05&#8221;). The amendments to this update clarify the scope of the <font style="font-style:italic;">Other Income&#8212;Gains and Losses from the Derecognition of Nonfinancial Assets</font> subtopic of the ASC, and to add guidance for partial sales of nonfinancial assets. ASU 2017-05 clarifies that:</p></td></tr></table></div> <div align="left"> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:100%;"> <tr> <td valign="top" style="width:9.06%;white-space:nowrap"> <p style="margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> <td valign="top" style="width:4.54%;white-space:nowrap"> <p style="margin-top:6pt;margin-bottom:0pt;font-family:'Courier New';font-size:10pt;">o</p></td> <td valign="top"> <p style="margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">A financial asset is within the scope of the <font style="font-style:italic;">Other Income&#8212;Gains and Losses from the Derecognition of Nonfinancial Assets</font> subtopic of the ASC if it meets the definition of an in substance nonfinancial asset and defines the term in substance nonfinancial asset, in part, as a financial asset promised to a counterparty in a contract if substantially all of the fair value of the assets (recognized and unrecognized) that are promised to the counterparty in the contract is concentrated in nonfinancial assets.</p></td></tr></table></div> <div align="left"> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:100%;"> <tr> <td valign="top" style="width:9.06%;white-space:nowrap"> <p style="margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> <td valign="top" style="width:4.54%;white-space:nowrap"> <p style="margin-top:6pt;margin-bottom:0pt;font-family:'Courier New';font-size:10pt;">o</p></td> <td valign="top"> <p style="margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">It excludes all businesses and nonprofit activities from the scope of the <font style="font-style:italic;">Other Income &#8211; Gains and Losses from the Derecognition of Nonfinancial Assets</font> subtopic of the ASC. Derecognition of all businesses and nonprofit activities should be accounted for in accordance with the <font style="font-style:italic;">Consolidation&#8212;Overall</font> subtopic of the ASC.</p></td></tr></table></div> <div align="left"> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:100%;"> <tr> <td valign="top" style="width:9.06%;white-space:nowrap"> <p style="margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> <td valign="top" style="width:4.54%;white-space:nowrap"> <p style="margin-top:6pt;margin-bottom:0pt;font-family:'Courier New';font-size:10pt;">o</p></td> <td valign="top"> <p style="margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">An entity should identify each distinct nonfinancial asset or in substance nonfinancial asset promised to a counterparty and derecognize each asset when a counterparty obtains control of it. </p></td></tr></table></div> <div align="left"> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:100%;"> <tr> <td valign="top" style="width:9.06%;white-space:nowrap"> <p style="margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> <td valign="top" style="width:4.54%;white-space:nowrap"> <p style="margin-top:6pt;margin-bottom:0pt;font-family:'Courier New';font-size:10pt;">o</p></td> <td valign="top"> <p style="margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">An entity should allocate consideration to each distinct asset by applying the guidance in the <font style="font-style:italic;">Revenue from Contracts with Customers</font> topic of the ASC on allocating the transaction price to performance obligations.</p></td></tr></table></div> <div align="left"> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:100%;"> <tr> <td valign="top" style="width:9.06%;white-space:nowrap"> <p style="margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> <td valign="top" style="width:4.54%;white-space:nowrap"> <p style="margin-top:6pt;margin-bottom:0pt;font-family:'Courier New';font-size:10pt;">o</p></td> <td valign="top"> <p style="margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">An entity must derecognize a distinct nonfinancial asset or distinct in substance nonfinancial asset in a partial sale transaction when it (1) does not have (or ceases to have) a controlling financial interest in the legal entity that holds the asset in accordance with the Consolidations topic and (2) transfers control of the asset in accordance with the <font style="font-style:italic;">Revenue from Contracts with Customers </font>topic of the ASC. Once an entity transfers control of a distinct nonfinancial asset or distinct in substance nonfinancial asset, it is required to measure any noncontrolling interest it receives (or retains) at fair value.</p></td></tr></table></div> <p style="margin-top:12pt;margin-bottom:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Manager has evaluated the effect of adoption of ASU 2014-09 and its amendments and their effect on the Company&#8217;s consolidated financial statements, and has concluded that ASU 2014-09 will not have a significant effect on such financial statements.</p> <p style="margin-top:18pt;margin-bottom:0pt;text-indent:4.54%;font-weight:bold;font-style:italic;font-family:Times New Roman;font-size:10pt;text-transform:none;font-variant: normal;">Fair Value of Financial Instruments</p> <p style="margin-top:6pt;margin-bottom:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">In January&#160;2016, the FASB issued ASU 2016-01, <font style="font-style:italic;">Financial Instruments&#8211;Overall: Recognition and Measurement of Financial Assets and Financial Liabilities</font> (&#8220;ASU 2016-01&#8221;). 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-top:12pt;margin-bottom:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">ASU 2016-01 requires that:</p> <div align="left"> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:100%;"> <tr> <td valign="top" style="width:4.54%;white-space:nowrap"> <p style="margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> <td valign="top" style="width:4.54%;white-space:nowrap"> <p style="margin-top:6pt;margin-bottom:0pt;font-family:'Times New Roman';font-size:15pt;line-height:11pt;">&#x2022;</p></td> <td valign="top"> <p style="margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">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.</p></td></tr></table></div> <div align="left"> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:100%;"> <tr> <td valign="top" style="width:4.54%;white-space:nowrap"> <p style="margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> <td valign="top" style="width:4.54%;white-space:nowrap"> <p style="margin-top:6pt;margin-bottom:0pt;font-family:'Times New Roman';font-size:15pt;line-height:11pt;">&#x2022;</p></td> <td valign="top"> <p style="margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">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.</p></td></tr></table></div> <div align="left"> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:100%;"> <tr> <td valign="top" style="width:4.54%;white-space:nowrap"> <p style="margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> <td valign="top" style="width:4.54%;white-space:nowrap"> <p style="margin-top:6pt;margin-bottom:0pt;font-family:'Times New Roman';font-size:15pt;line-height:11pt;">&#x2022;</p></td> <td valign="top"> <p style="margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">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.</p></td></tr></table></div> <div align="left"> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:100%;"> <tr> <td valign="top" style="width:4.54%;white-space:nowrap"> <p style="margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> <td valign="top" style="width:4.54%;white-space:nowrap"> <p style="margin-top:6pt;margin-bottom:0pt;font-family:'Times New Roman';font-size:15pt;line-height:11pt;">&#x2022;</p></td> <td valign="top"> <p style="margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">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).</p></td></tr></table></div> <div align="left"> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:100%;"> <tr> <td valign="top" style="width:4.54%;white-space:nowrap"> <p style="margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> <td valign="top" style="width:4.54%;white-space:nowrap"> <p style="margin-top:6pt;margin-bottom:0pt;font-family:'Times New Roman';font-size:15pt;line-height:11pt;">&#x2022;</p></td> <td valign="top"> <p style="margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">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.</p></td></tr></table></div> <div align="left"> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:100%;"> <tr> <td valign="top" style="width:4.54%;white-space:nowrap"> <p style="margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> <td valign="top" style="width:4.54%;white-space:nowrap"> <p style="margin-top:6pt;margin-bottom:0pt;font-family:'Times New Roman';font-size:15pt;line-height:11pt;">&#x2022;</p></td> <td valign="top"> <p style="margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">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&#8217;s other deferred tax assets.</p></td></tr></table></div> <p style="margin-top:12pt;margin-bottom:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The classification and measurement guidance will be effective for public business entities in fiscal years beginning after December&#160;15, 2017, including interim periods within those fiscal years. Early adoption of 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 is permitted and 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 Manager does not believe that the adoption of ASU 2016-01 will have a significant effect on its consolidated financial statements.</p> <p style="margin-top:18pt;margin-bottom:0pt;text-indent:4.54%;font-weight:bold;font-style:italic;font-family:Times New Roman;font-size:10pt;text-transform:none;font-variant: normal;">Share-Based Compensation</p> <p style="margin-top:6pt;margin-bottom:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">In March 2016, the FASB issued ASU 2016-09, <font style="font-style:italic;">Compensation&#8212;Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting</font> (&#8220;ASU 2016-09&#8221;). ASU 2016-09 simplifies several aspects of the accounting for share-based payment award transactions, including:</p> <div align="left"> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:100%;"> <tr> <td valign="top" style="width:4.54%;white-space:nowrap"> <p style="margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> <td valign="top" style="width:4.54%;white-space:nowrap"> <p style="margin-top:6pt;margin-bottom:0pt;font-family:'Times New Roman';font-size:15pt;line-height:11pt;">&#x2022;</p></td> <td valign="top"> <p style="margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Modifies the accounting for income taxes relating to share-based payments. All excess tax benefits and tax deficiencies (including tax benefits of dividends on share-based payment awards) will be recognized as income tax expense or benefit in the consolidated statement of income. The tax effects of exercised or vested awards will be treated as discrete items in the reporting period in which they occur. An entity will recognize excess tax benefits regardless of whether the benefit reduces taxes payable in the current period. Under current GAAP, excess tax benefits are recognized in additional paid-in capital; tax deficiencies are recognized either as an offset to accumulated excess tax benefits, if any, or in the consolidated statement of income in the period they reduce income taxes payable.</p></td></tr></table></div> <div align="left"> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:100%;"> <tr> <td valign="top" style="width:4.54%;white-space:nowrap"> <p style="margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> <td valign="top" style="width:4.54%;white-space:nowrap"> <p style="margin-top:6pt;margin-bottom:0pt;font-family:'Times New Roman';font-size:15pt;line-height:11pt;">&#x2022;</p></td> <td valign="top"> <p style="margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Changes the classification of excess tax benefits on the consolidated statement of cash flows. In the consolidated statement of cash flows, excess tax benefits will be classified along with other income tax cash flows as an operating activity. Under current GAAP, excess tax benefits are separated from other income tax cash flows and classified as a financing activity.</p></td></tr></table></div> <div align="left"> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:100%;"> <tr> <td valign="top" style="width:4.54%;white-space:nowrap"> <p style="margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> <td valign="top" style="width:4.54%;white-space:nowrap"> <p style="margin-top:6pt;margin-bottom:0pt;font-family:'Times New Roman';font-size:15pt;line-height:11pt;">&#x2022;</p></td> <td valign="top"> <p style="margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Changes the requirement to estimate the number of awards that are expected to vest. Under ASC 2016-09, an entity can make an entity-wide accounting policy election to either estimate the number of awards that are expected to vest as presently required or account for forfeitures when they occur. Under current GAAP, accruals of compensation cost are based on the number of awards that are expected to vest.</p></td></tr></table></div> <div align="left"> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:100%;"> <tr> <td valign="top" style="width:4.54%;white-space:nowrap"> <p style="margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> <td valign="top" style="width:4.54%;white-space:nowrap"> <p style="margin-top:6pt;margin-bottom:0pt;font-family:'Times New Roman';font-size:15pt;line-height:11pt;">&#x2022;</p></td> <td valign="top"> <p style="margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Changes the tax withholding requirements for share-based payment awards to qualify for equity accounting. The threshold to qualify for equity classification permits withholding up to the maximum statutory tax rates in the applicable jurisdictions. Under current GAAP, for an award to qualify for equity classification is that an entity cannot partially settle the award in cash in excess of the employer&#8217;s minimum statutory withholding requirements.</p></td></tr></table></div> <div align="left"> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:100%;"> <tr> <td valign="top" style="width:4.54%;white-space:nowrap"> <p style="margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> <td valign="top" style="width:4.54%;white-space:nowrap"> <p style="margin-top:6pt;margin-bottom:0pt;font-family:'Times New Roman';font-size:15pt;line-height:11pt;">&#x2022;</p></td> <td valign="top"> <p style="margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Establishes GAAP for the classification of employee taxes paid when an employer withholds shares for tax withholding purposes. Cash paid by an employer when directly withholding shares for tax- withholding purposes should be classified as a financing activity. This guidance establishes GAAP related to the classification of withholding taxes in the statement of cash flows as there is no such guidance under current GAAP.</p></td></tr></table></div> <p style="margin-top:12pt;margin-bottom:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">ASU 2016-09 is effective for annual periods beginning after December&#160;15, 2016, and interim periods within those annual periods. Early adoption is permitted for any organization in any interim or annual period. The adoption ASU 2016-09 did not have a significant effect on the Company&#8217;s consolidated financial statements.</p></div>
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div> <p style="margin-top:12pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:4.54%;">Due to the nature of a substantial portion of the Company&#8217;s investments, PMT is exposed, to a greater extent than traditional mortgage investors, to the risks associated with loan performance and resolution, including 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 that fluctuations in the residential real estate market may affect the performance of its investments. Factors influencing these risks include, but are not limited to:</p> <div align="left"> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:100%;"> <tr> <td valign="top" style="width:4.54%;white-space:nowrap"> <p style="margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> <td valign="top" style="width:4.54%;white-space:nowrap"> <p style="margin-top:6pt;margin-bottom:0pt;font-family:'Times New Roman';font-size:15pt;line-height:11pt;">&#x2022;</p></td> <td valign="top"> <p style="margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">changes in the overall economy, unemployment rates and residential real estate fair values in the markets where the properties securing the Company&#8217;s mortgage loans are located;</p></td></tr></table></div> <div align="left"> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:100%;"> <tr> <td valign="top" style="width:4.54%;white-space:nowrap"> <p style="margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> <td valign="top" style="width:4.54%;white-space:nowrap"> <p style="margin-top:6pt;margin-bottom:0pt;font-family:'Times New Roman';font-size:15pt;line-height:11pt;">&#x2022;</p></td> <td valign="top"> <p style="margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">PCM&#8217;s ability to identify and PLS&#8217; ability to execute optimal resolutions of certain mortgage loans;</p></td></tr></table></div> <div align="left"> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:100%;"> <tr> <td valign="top" style="width:4.54%;white-space:nowrap"> <p style="margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> <td valign="top" style="width:4.54%;white-space:nowrap"> <p style="margin-top:6pt;margin-bottom:0pt;font-family:'Times New Roman';font-size:15pt;line-height:11pt;">&#x2022;</p></td> <td valign="top"> <p style="margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">the accuracy of valuation information obtained during the Company&#8217;s due diligence activities;</p></td></tr></table></div> <div align="left"> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:100%;"> <tr> <td valign="top" style="width:4.54%;white-space:nowrap"> <p style="margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> <td valign="top" style="width:4.54%;white-space:nowrap"> <p style="margin-top:6pt;margin-bottom:0pt;font-family:'Times New Roman';font-size:15pt;line-height:11pt;">&#x2022;</p></td> <td valign="top"> <p style="margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">PCM&#8217;s ability to effectively model, and to develop appropriate model inputs that properly anticipate, future outcomes;</p></td></tr></table></div> <div align="left"> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:100%;"> <tr> <td valign="top" style="width:4.54%;white-space:nowrap"> <p style="margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> <td valign="top" style="width:4.54%;white-space:nowrap"> <p style="margin-top:6pt;margin-bottom:0pt;font-family:'Times New Roman';font-size:15pt;line-height:11pt;">&#x2022;</p></td> <td valign="top"> <p style="margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">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&#8217;s ability to effect cures or resolutions to distressed mortgage loans; and</p></td></tr></table></div> <div align="left"> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:100%;"> <tr> <td valign="top" style="width:4.54%;white-space:nowrap"> <p style="margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> <td valign="top" style="width:4.54%;white-space:nowrap"> <p style="margin-top:6pt;margin-bottom:0pt;font-family:'Times New Roman';font-size:15pt;line-height:11pt;">&#x2022;</p></td> <td valign="top"> <p style="margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">regulatory, judicial and legislative support of the foreclosure process, and the resulting effect on the Company&#8217;s ability to acquire and liquidate the real estate securing its portfolio of distressed mortgage loans in a timely manner or at all.</p></td></tr></table></div> <p style="margin-top:12pt;margin-bottom:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Due to these uncertainties, there can be no assurance that risk management activities identified and executed on PMT&#8217;s behalf will prevent significant losses arising from the Company&#8217;s investments in real estate-related assets.</p></div>
CY2016 pmt Fair Value Purchased Of Mortgage Loans Investment Portfolio Purchases From Or Through One Or More Subsidiaries
FairValuePurchasedOfMortgageLoansInvestmentPortfolioPurchasesFromOrThroughOneOrMoreSubsidiaries
1192650000
CY2016Q1 pmt Proceeds From The Sale Of Excess Servicing Spread
ProceedsFromTheSaleOfExcessServicingSpread
59000000
CY2016Q4 pmt Excess Service Spread Recapture Of Minimum Percentage Loan Fee Rate And Unpaid Principal Balance Refinance Mortgage Loans
ExcessServiceSpreadRecaptureOfMinimumPercentageLoanFeeRateAndUnpaidPrincipalBalanceRefinanceMortgageLoans
0.90
CY2016Q4 pmt Excess Service Spread Recapture Of Minimum Percentage Loan Fee Rate And Unpaid Principal Balance Modified Mortgage Loans
ExcessServiceSpreadRecaptureOfMinimumPercentageLoanFeeRateAndUnpaidPrincipalBalanceModifiedMortgageLoans
0.90
CY2017Q3 pmt Fair Value Option Loans Held As Assets Aggregate Fair Value
FairValueOptionLoansHeldAsAssetsAggregateFairValue
1347943000
CY2016Q4 pmt Fair Value Option Loans Held As Assets Aggregate Fair Value
FairValueOptionLoansHeldAsAssetsAggregateFairValue
1721741000
CY2017Q3 us-gaap Mortgage Loans On Real Estate Principal Amount Of Delinquent Loans
MortgageLoansOnRealEstatePrincipalAmountOfDelinquentLoans
1710504000
CY2016Q4 us-gaap Mortgage Loans On Real Estate Principal Amount Of Delinquent Loans
MortgageLoansOnRealEstatePrincipalAmountOfDelinquentLoans
2208183000
CY2017Q3 us-gaap Fair Value Option Loans Held As Assets Aggregate Difference
FairValueOptionLoansHeldAsAssetsAggregateDifference
-362561000
CY2016Q4 us-gaap Fair Value Option Loans Held As Assets Aggregate Difference
FairValueOptionLoansHeldAsAssetsAggregateDifference
-486442000
pmt Mortgage Loans Description
MortgageLoansDescription
Note interest rate pools of 50 basis points
pmt Basis Point For Mortgage Loan
BasisPointForMortgageLoan
0.0050
CY2017Q3 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
246900000
CY2016Q4 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
240700000
CY2017Q3 pmt Servicing Asset At Fair Value Additions From Loan Sales
ServicingAssetAtFairValueAdditionsFromLoanSales
8655000
CY2016Q3 pmt Servicing Asset At Fair Value Additions From Loan Sales
ServicingAssetAtFairValueAdditionsFromLoanSales
1068000
CY2017Q3 pmt Fair Value Unpaid Principal Balance Of Underlying Loans
FairValueUnpaidPrincipalBalanceOfUnderlyingLoans
794770000
CY2016Q3 pmt Fair Value Unpaid Principal Balance Of Underlying Loans
FairValueUnpaidPrincipalBalanceOfUnderlyingLoans
120457000
CY2017Q3 pmt Services Fee Annual Rate
ServicesFeeAnnualRate
0.0025
CY2016Q3 pmt Services Fee Annual Rate
ServicesFeeAnnualRate
0.0025
CY2017Q3 us-gaap Servicing Asset At Amortized Value Additions
ServicingAssetAtAmortizedValueAdditions
74183000
CY2016Q3 us-gaap Servicing Asset At Amortized Value Additions
ServicingAssetAtAmortizedValueAdditions
76567000
CY2016Q4 pmt Percentage Of Fair Value Mortgage Loan Portfolio
PercentageOfFairValueMortgageLoanPortfolio
0.41
CY2017Q3 pmt Ratio Of Loans With Unpaid Principal Balance To Current Property Value
RatioOfLoansWithUnpaidPrincipalBalanceToCurrentPropertyValue
1.00
CY2016Q4 pmt Ratio Of Loans With Unpaid Principal Balance To Current Property Value
RatioOfLoansWithUnpaidPrincipalBalanceToCurrentPropertyValue
1.00
CY2017Q3 pmt Percentage Of Estimated Fair Value Of Mortgage Loans Originated
PercentageOfEstimatedFairValueOfMortgageLoansOriginated
0.05
CY2017Q3 pmt Amortized Cost Unpaid Principal Balance Of Underlying Loans
AmortizedCostUnpaidPrincipalBalanceOfUnderlyingLoans
6050337000
CY2016Q3 pmt Amortized Cost Unpaid Principal Balance Of Underlying Loans
AmortizedCostUnpaidPrincipalBalanceOfUnderlyingLoans
6532562000
CY2017Q3 pmt Percentage Of Amortized Cost
PercentageOfAmortizedCost
0.0025
CY2016Q3 pmt Percentage Of Amortized Cost
PercentageOfAmortizedCost
0.0025
pmt Servicing Asset At Fair Value Additions From Loan Sales
ServicingAssetAtFairValueAdditionsFromLoanSales
28467000
pmt Servicing Asset At Fair Value Additions From Loan Sales
ServicingAssetAtFairValueAdditionsFromLoanSales
6215000
pmt Fair Value Unpaid Principal Balance Of Underlying Loans
FairValueUnpaidPrincipalBalanceOfUnderlyingLoans
2613258000
pmt Fair Value Unpaid Principal Balance Of Underlying Loans
FairValueUnpaidPrincipalBalanceOfUnderlyingLoans
647976000
pmt Services Fee Annual Rate
ServicesFeeAnnualRate
0.0025
pmt Services Fee Annual Rate
ServicesFeeAnnualRate
0.0026
us-gaap Servicing Asset At Amortized Value Additions
ServicingAssetAtAmortizedValueAdditions
178894000
us-gaap Servicing Asset At Amortized Value Additions
ServicingAssetAtAmortizedValueAdditions
167691000
pmt Amortized Cost Unpaid Principal Balance Of Underlying Loans
AmortizedCostUnpaidPrincipalBalanceOfUnderlyingLoans
14624151000
pmt Amortized Cost Unpaid Principal Balance Of Underlying Loans
AmortizedCostUnpaidPrincipalBalanceOfUnderlyingLoans
14139102000
pmt Percentage Of Amortized Cost
PercentageOfAmortizedCost
0.0025
pmt Percentage Of Amortized Cost
PercentageOfAmortizedCost
0.0025
CY2017Q3 pmt Fair Value Unpaid Principal Of Underlying Loans Balance
FairValueUnpaidPrincipalOfUnderlyingLoansBalance
7525020000
CY2016Q4 pmt Fair Value Unpaid Principal Of Underlying Loans Balance
FairValueUnpaidPrincipalOfUnderlyingLoansBalance
5763957000
CY2017Q3 pmt Annual Service Fee Rate
AnnualServiceFeeRate
0.0025
CY2016Q4 pmt Annual Service Fee Rate
AnnualServiceFeeRate
0.0025
pmt Fair Value Weighted Average Coupon Interest Rate
FairValueWeightedAverageCouponInterestRate
0.047
CY2016 pmt Fair Value Weighted Average Coupon Interest Rate
FairValueWeightedAverageCouponInterestRate
0.047
CY2017Q3 us-gaap Servicing Asset At Amortized Value
ServicingAssetAtAmortizedValue
708023000
CY2016Q4 us-gaap Servicing Asset At Amortized Value
ServicingAssetAtAmortizedValue
592431000
pmt Amortized Cost Unpaid Principal Balance Of Underlying Loans Period End
AmortizedCostUnpaidPrincipalBalanceOfUnderlyingLoansPeriodEnd
60399531000
pmt Weighted Average Servicing Fee Rate Amortized Cost
WeightedAverageServicingFeeRateAmortizedCost
0.0025
CY2016 pmt Weighted Average Servicing Fee Rate Amortized Cost
WeightedAverageServicingFeeRateAmortizedCost
0.0025
pmt Amortized Cost Weighted Average Coupon Interest Rate
AmortizedCostWeightedAverageCouponInterestRate
0.039
CY2016 pmt Amortized Cost Weighted Average Coupon Interest Rate
AmortizedCostWeightedAverageCouponInterestRate
0.038
CY2017Q3 pmt Pledged Financial Instruments Not Separately Reported And Assets Separately Reported On Statement At Fair Value
PledgedFinancialInstrumentsNotSeparatelyReportedAndAssetsSeparatelyReportedOnStatementAtFairValue
1251916000
CY2016Q4 pmt Pledged Financial Instruments Not Separately Reported And Assets Separately Reported On Statement At Fair Value
PledgedFinancialInstrumentsNotSeparatelyReportedAndAssetsSeparatelyReportedOnStatementAtFairValue
1653748000
CY2017Q3 pmt Mortgage Loans On Real Estate Unpaid Balance
MortgageLoansOnRealEstateUnpaidBalance
1710504000
CY2016Q4 pmt Mortgage Loans On Real Estate Unpaid Balance
MortgageLoansOnRealEstateUnpaidBalance
2208183000
CY2017Q3 pmt Mortgage Loans At Fair Value Held By Variable Interest Entity
MortgageLoansAtFairValueHeldByVariableInterestEntity
331941000
CY2016Q4 pmt Mortgage Loans At Fair Value Held By Variable Interest Entity
MortgageLoansAtFairValueHeldByVariableInterestEntity
367169000
CY2017Q3 pmt Percentage Of Mortgage Loan Portfolio
PercentageOfMortgageLoanPortfolio
0.72
CY2016Q4 pmt Percentage Of Mortgage Loan Portfolio
PercentageOfMortgageLoanPortfolio
0.72
CY2017Q3 pmt Percentage Of Fair Value Mortgage Loan Portfolio
PercentageOfFairValueMortgageLoanPortfolio
0.40
CY2016Q4 pmt Percentage Of Estimated Fair Value Of Mortgage Loans Originated
PercentageOfEstimatedFairValueOfMortgageLoansOriginated
0.05
CY2017Q3 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
72079000
CY2016Q4 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
71093000
CY2017Q3 us-gaap Derivative Asset Collateral Obligation To Return Cash Offset
DerivativeAssetCollateralObligationToReturnCashOffset
4791000
CY2016Q4 us-gaap Derivative Asset Collateral Obligation To Return Cash Offset
DerivativeAssetCollateralObligationToReturnCashOffset
37384000
CY2017Q3 pmt Margin Deposit Assets Liabilities
MarginDepositAssetsLiabilities
-1395000
CY2016Q4 pmt Margin Deposit Assets Liabilities
MarginDepositAssetsLiabilities
-18071000
CY2017Q3 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
8295000
CY2016Q4 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
28885000
CY2017Q3 us-gaap Derivative Liability Collateral Right To Reclaim Cash Offset
DerivativeLiabilityCollateralRightToReclaimCashOffset
3395000
CY2016Q4 us-gaap Derivative Liability Collateral Right To Reclaim Cash Offset
DerivativeLiabilityCollateralRightToReclaimCashOffset
19312000
CY2017Q3 pmt Derivative Asset Netting
DerivativeAssetNetting
4791000
CY2016Q4 pmt Derivative Asset Netting
DerivativeAssetNetting
37384000
CY2017Q3 us-gaap Derivative Asset Securities Purchased Under Agreements To Resell Securities Borrowed Liability
DerivativeAssetSecuritiesPurchasedUnderAgreementsToResellSecuritiesBorrowedLiability
0
CY2017Q3 us-gaap Cash Collateral For Borrowed Securities
CashCollateralForBorrowedSecurities
0
CY2017Q3 us-gaap Derivative Fair Value Of Derivative Asset Amount Not Offset Against Collateral
DerivativeFairValueOfDerivativeAssetAmountNotOffsetAgainstCollateral
67288000
CY2016Q4 us-gaap Derivative Asset Securities Purchased Under Agreements To Resell Securities Borrowed Liability
DerivativeAssetSecuritiesPurchasedUnderAgreementsToResellSecuritiesBorrowedLiability
0
CY2016Q4 us-gaap Cash Collateral For Borrowed Securities
CashCollateralForBorrowedSecurities
0
CY2016Q4 us-gaap Derivative Fair Value Of Derivative Asset Amount Not Offset Against Collateral
DerivativeFairValueOfDerivativeAssetAmountNotOffsetAgainstCollateral
33709000
CY2017Q3 us-gaap Derivative Liability Securities Sold Under Agreements To Resell Securities Loaned Gross
DerivativeLiabilitySecuritiesSoldUnderAgreementsToResellSecuritiesLoanedGross
3211681000
CY2017Q3 us-gaap Derivative Liability Securities Sold Under Agreements To Resell Securities Loaned Asset
DerivativeLiabilitySecuritiesSoldUnderAgreementsToResellSecuritiesLoanedAsset
3395000
CY2017Q3 us-gaap Derivative Liability Securities Sold Under Agreements To Resell Securities Loaned
DerivativeLiabilitySecuritiesSoldUnderAgreementsToResellSecuritiesLoaned
3208286000
CY2016Q4 us-gaap Derivative Liability Securities Sold Under Agreements To Resell Securities Loaned Gross
DerivativeLiabilitySecuritiesSoldUnderAgreementsToResellSecuritiesLoanedGross
3812886000
CY2016Q4 us-gaap Derivative Liability Securities Sold Under Agreements To Resell Securities Loaned Asset
DerivativeLiabilitySecuritiesSoldUnderAgreementsToResellSecuritiesLoanedAsset
19312000
CY2016Q4 us-gaap Derivative Liability Securities Sold Under Agreements To Resell Securities Loaned
DerivativeLiabilitySecuritiesSoldUnderAgreementsToResellSecuritiesLoaned
3793574000
CY2017Q3 us-gaap Derivative Liability Securities Sold Under Agreements To Resell Securities Loaned Collateral Right To Reclaim Securities
DerivativeLiabilitySecuritiesSoldUnderAgreementsToResellSecuritiesLoanedCollateralRightToReclaimSecurities
3203386000
CY2017Q3 us-gaap Derivative Liability Securities Sold Under Agreements To Resell Securities Loaned Collateral Right To Reclaim Cash
DerivativeLiabilitySecuritiesSoldUnderAgreementsToResellSecuritiesLoanedCollateralRightToReclaimCash
0
CY2017Q3 us-gaap Derivative Liability Securities Sold Under Agreements To Resell Securities Loaned Amount Offset Against Collateral
DerivativeLiabilitySecuritiesSoldUnderAgreementsToResellSecuritiesLoanedAmountOffsetAgainstCollateral
4900000
CY2016Q4 us-gaap Derivative Liability Securities Sold Under Agreements To Resell Securities Loaned Collateral Right To Reclaim Securities
DerivativeLiabilitySecuritiesSoldUnderAgreementsToResellSecuritiesLoanedCollateralRightToReclaimSecurities
3784001000
CY2016Q4 us-gaap Derivative Liability Securities Sold Under Agreements To Resell Securities Loaned Collateral Right To Reclaim Cash
DerivativeLiabilitySecuritiesSoldUnderAgreementsToResellSecuritiesLoanedCollateralRightToReclaimCash
0
CY2016Q4 us-gaap Derivative Liability Securities Sold Under Agreements To Resell Securities Loaned Amount Offset Against Collateral
DerivativeLiabilitySecuritiesSoldUnderAgreementsToResellSecuritiesLoanedAmountOffsetAgainstCollateral
9573000
CY2017Q2 us-gaap Real Estate Acquired Through Foreclosure
RealEstateAcquiredThroughForeclosure
207034000
CY2016Q2 us-gaap Real Estate Acquired Through Foreclosure
RealEstateAcquiredThroughForeclosure
299458000
CY2015Q4 us-gaap Real Estate Acquired Through Foreclosure
RealEstateAcquiredThroughForeclosure
341846000
CY2017Q3 pmt Real Estate Acquired In Satisfaction Of Debt
RealEstateAcquiredInSatisfactionOfDebt
22951000
CY2016Q3 pmt Real Estate Acquired In Satisfaction Of Debt
RealEstateAcquiredInSatisfactionOfDebt
42300000
pmt Real Estate Acquired In Satisfaction Of Debt
RealEstateAcquiredInSatisfactionOfDebt
76981000
pmt Real Estate Acquired In Satisfaction Of Debt
RealEstateAcquiredInSatisfactionOfDebt
156352000
CY2017Q3 us-gaap Transfer Of Other Real Estate
TransferOfOtherRealEstate
2555000
CY2016Q3 us-gaap Transfer Of Other Real Estate
TransferOfOtherRealEstate
5282000
us-gaap Transfer Of Other Real Estate
TransferOfOtherRealEstate
14300000
us-gaap Transfer Of Other Real Estate
TransferOfOtherRealEstate
17548000
CY2017Q3 us-gaap Other Real Estate Valuation Adjustments
OtherRealEstateValuationAdjustments
-6423000
CY2016Q3 us-gaap Other Real Estate Valuation Adjustments
OtherRealEstateValuationAdjustments
-7888000
us-gaap Other Real Estate Valuation Adjustments
OtherRealEstateValuationAdjustments
-21749000
us-gaap Other Real Estate Valuation Adjustments
OtherRealEstateValuationAdjustments
-25816000
CY2017Q3 us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
3280000
CY2016Q3 us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
4603000
us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
10895000
us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
13930000
CY2017Q3 pmt Gains Losses Real Estate Owned Net
GainsLossesRealEstateOwnedNet
-3143000
CY2016Q3 pmt Gains Losses Real Estate Owned Net
GainsLossesRealEstateOwnedNet
-3285000
pmt Gains Losses Real Estate Owned Net
GainsLossesRealEstateOwnedNet
-10854000
pmt Gains Losses Real Estate Owned Net
GainsLossesRealEstateOwnedNet
-11886000
CY2017Q3 us-gaap Sales Of Real Estate
SalesOfRealEstate
39253000
CY2016Q3 us-gaap Sales Of Real Estate
SalesOfRealEstate
44843000
us-gaap Sales Of Real Estate
SalesOfRealEstate
140862000
us-gaap Sales Of Real Estate
SalesOfRealEstate
180416000
CY2016Q3 us-gaap Real Estate Acquired Through Foreclosure
RealEstateAcquiredThroughForeclosure
288348000
CY2017Q3 pmt Real Estate Acquired Through Foreclosure Pledged To Secure Borrowings
RealEstateAcquiredThroughForeclosurePledgedToSecureBorrowings
84796000
CY2016Q4 pmt Real Estate Acquired Through Foreclosure Pledged To Secure Borrowings
RealEstateAcquiredThroughForeclosurePledgedToSecureBorrowings
167430000
CY2017Q3 pmt Real Estate Owned Held In Subsidiary For Financing Purposes
RealEstateOwnedHeldInSubsidiaryForFinancingPurposes
50965000
CY2016Q4 pmt Real Estate Owned Held In Subsidiary For Financing Purposes
RealEstateOwnedHeldInSubsidiaryForFinancingPurposes
48283000
CY2017Q3 us-gaap Pledged Assets Separately Reported Real Estate Pledged As Collateral At Fair Value
PledgedAssetsSeparatelyReportedRealEstatePledgedAsCollateralAtFairValue
135761000
CY2016Q4 us-gaap Pledged Assets Separately Reported Real Estate Pledged As Collateral At Fair Value
PledgedAssetsSeparatelyReportedRealEstatePledgedAsCollateralAtFairValue
215713000
CY2017Q2 pmt Servicing Asset At Amortized Cost Before Valuation Allowance
ServicingAssetAtAmortizedCostBeforeValuationAllowance
673433000
CY2016Q4 pmt Servicing Asset At Amortized Cost Before Valuation Allowance
ServicingAssetAtAmortizedCostBeforeValuationAllowance
606103000
CY2015Q4 pmt Servicing Asset At Amortized Cost Before Valuation Allowance
ServicingAssetAtAmortizedCostBeforeValuationAllowance
404101000
CY2017Q3 us-gaap Amortization Of Mortgage Servicing Rights Ms Rs
AmortizationOfMortgageServicingRightsMSRs
21634000
CY2016Q3 us-gaap Amortization Of Mortgage Servicing Rights Ms Rs
AmortizationOfMortgageServicingRightsMSRs
17902000
us-gaap Amortization Of Mortgage Servicing Rights Ms Rs
AmortizationOfMortgageServicingRightsMSRs
59015000
us-gaap Amortization Of Mortgage Servicing Rights Ms Rs
AmortizationOfMortgageServicingRightsMSRs
47720000
CY2017Q3 us-gaap Servicing Asset At Fair Value Disposals
ServicingAssetAtFairValueDisposals
0
CY2016Q3 us-gaap Servicing Asset At Fair Value Disposals
ServicingAssetAtFairValueDisposals
0
us-gaap Servicing Asset At Fair Value Disposals
ServicingAssetAtFairValueDisposals
0
us-gaap Servicing Asset At Fair Value Disposals
ServicingAssetAtFairValueDisposals
106000
CY2017Q3 pmt Servicing Asset At Amortized Cost Before Valuation Allowance
ServicingAssetAtAmortizedCostBeforeValuationAllowance
725982000
CY2016Q3 pmt Servicing Asset At Amortized Cost Before Valuation Allowance
ServicingAssetAtAmortizedCostBeforeValuationAllowance
523966000
CY2017Q2 us-gaap Valuation Allowance For Impairment Of Recognized Servicing Assets Balance
ValuationAllowanceForImpairmentOfRecognizedServicingAssetsBalance
16257000
CY2016Q2 us-gaap Valuation Allowance For Impairment Of Recognized Servicing Assets Balance
ValuationAllowanceForImpairmentOfRecognizedServicingAssetsBalance
51820000
CY2016Q4 us-gaap Valuation Allowance For Impairment Of Recognized Servicing Assets Balance
ValuationAllowanceForImpairmentOfRecognizedServicingAssetsBalance
13672000
CY2015Q4 us-gaap Valuation Allowance For Impairment Of Recognized Servicing Assets Balance
ValuationAllowanceForImpairmentOfRecognizedServicingAssetsBalance
10944000
CY2017Q3 us-gaap Valuation Allowance For Impairment Of Recognized Servicing Assets Provisions Recoveries
ValuationAllowanceForImpairmentOfRecognizedServicingAssetsProvisionsRecoveries
1702000
CY2016Q3 us-gaap Valuation Allowance For Impairment Of Recognized Servicing Assets Provisions Recoveries
ValuationAllowanceForImpairmentOfRecognizedServicingAssetsProvisionsRecoveries
3460000
us-gaap Valuation Allowance For Impairment Of Recognized Servicing Assets Provisions Recoveries
ValuationAllowanceForImpairmentOfRecognizedServicingAssetsProvisionsRecoveries
4287000
us-gaap Valuation Allowance For Impairment Of Recognized Servicing Assets Provisions Recoveries
ValuationAllowanceForImpairmentOfRecognizedServicingAssetsProvisionsRecoveries
44336000
CY2017Q3 us-gaap Valuation Allowance For Impairment Of Recognized Servicing Assets Balance
ValuationAllowanceForImpairmentOfRecognizedServicingAssetsBalance
17959000
CY2016Q3 us-gaap Valuation Allowance For Impairment Of Recognized Servicing Assets Balance
ValuationAllowanceForImpairmentOfRecognizedServicingAssetsBalance
55280000
CY2016Q3 us-gaap Servicing Asset At Amortized Value
ServicingAssetAtAmortizedValue
468686000
CY2017Q2 us-gaap Servicing Asset At Amortized Value Fair Value
ServicingAssetAtAmortizedValueFairValue
682437000
CY2016Q2 us-gaap Servicing Asset At Amortized Value Fair Value
ServicingAssetAtAmortizedValueFairValue
417094000
CY2016Q4 us-gaap Servicing Asset At Amortized Value Fair Value
ServicingAssetAtAmortizedValueFairValue
626334000
CY2015Q4 us-gaap Servicing Asset At Amortized Value Fair Value
ServicingAssetAtAmortizedValueFairValue
424154000
CY2017Q3 us-gaap Servicing Asset At Amortized Value Fair Value
ServicingAssetAtAmortizedValueFairValue
728828000
CY2016Q3 us-gaap Servicing Asset At Amortized Value Fair Value
ServicingAssetAtAmortizedValueFairValue
472790000
CY2017Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
85876000
CY2017Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Rolling Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearTwo
78404000
CY2017Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Rolling Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearThree
71153000
CY2017Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Rolling Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearFour
64092000
CY2017Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Rolling Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearFive
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CY2017Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Rolling After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseRollingAfterYearFive
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MortgageServicingRightsFairValuePurchases
10000
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MortgageServicingRightsFairValuePurchases
0
pmt Mortgage Servicing Rights Fair Value Purchases
MortgageServicingRightsFairValuePurchases
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pmt Mortgage Servicing Rights Fair Value Purchases
MortgageServicingRightsFairValuePurchases
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CY2017Q3 us-gaap Servicing Asset At Fair Value Other Changes In Fair Value
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CY2016Q3 us-gaap Servicing Asset At Fair Value Other Changes In Fair Value
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CY2016Q3 us-gaap Servicing Asset At Fair Value Period Increase Decrease
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CY2016Q3 us-gaap Servicing Asset At Fair Value Amount
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CY2017Q3 pmt Fair Value Of Mortgage Servicing Rights Pledged To Secure Note Payable
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CY2017Q3 us-gaap Contractually Specified Servicing Fees Amount
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CY2016Q3 us-gaap Contractually Specified Servicing Fees Amount
ContractuallySpecifiedServicingFeesAmount
32724000
us-gaap Contractually Specified Servicing Fees Amount
ContractuallySpecifiedServicingFeesAmount
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us-gaap Contractually Specified Servicing Fees Amount
ContractuallySpecifiedServicingFeesAmount
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CY2017Q3 us-gaap Late Fee Income Generated By Servicing Financial Assets Amount
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173000
CY2016Q3 us-gaap Late Fee Income Generated By Servicing Financial Assets Amount
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148000
us-gaap Late Fee Income Generated By Servicing Financial Assets Amount
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536000
us-gaap Late Fee Income Generated By Servicing Financial Assets Amount
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421000
CY2017Q3 us-gaap Ancillary Fee Income Generated By Servicing Financial Assets Amount
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1870000
CY2016Q3 us-gaap Ancillary Fee Income Generated By Servicing Financial Assets Amount
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us-gaap Ancillary Fee Income Generated By Servicing Financial Assets Amount
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us-gaap Ancillary Fee Income Generated By Servicing Financial Assets Amount
AncillaryFeeIncomeGeneratedByServicingFinancialAssetsAmount
3839000
CY2017Q3 us-gaap Contractually Specified Servicing Fees Late Fees And Ancillary Fees Earned In Exchange For Servicing Financial Assets
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44280000
CY2016Q3 us-gaap Contractually Specified Servicing Fees Late Fees And Ancillary Fees Earned In Exchange For Servicing Financial Assets
ContractuallySpecifiedServicingFeesLateFeesAndAncillaryFeesEarnedInExchangeForServicingFinancialAssets
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us-gaap Contractually Specified Servicing Fees Late Fees And Ancillary Fees Earned In Exchange For Servicing Financial Assets
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us-gaap Contractually Specified Servicing Fees Late Fees And Ancillary Fees Earned In Exchange For Servicing Financial Assets
ContractuallySpecifiedServicingFeesLateFeesAndAncillaryFeesEarnedInExchangeForServicingFinancialAssets
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CY2017Q3 pmt Securities Sold Under Agreements To Repurchase Weighted Average Interest Rate During Period
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SecuritiesSoldUnderAgreementsToRepurchaseWeightedAverageInterestRateDuringPeriod
0.0226
pmt Securities Sold Under Agreements To Repurchase Weighted Average Interest Rate During Period
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0.0257
pmt Securities Sold Under Agreements To Repurchase Weighted Average Interest Rate During Period
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0.0219
CY2017Q3 pmt Assets Sold Under Agreements To Repurchase Average Balance
AssetsSoldUnderAgreementsToRepurchaseAverageBalance
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CY2016Q3 pmt Assets Sold Under Agreements To Repurchase Average Balance
AssetsSoldUnderAgreementsToRepurchaseAverageBalance
3538720000
pmt Assets Sold Under Agreements To Repurchase Average Balance
AssetsSoldUnderAgreementsToRepurchaseAverageBalance
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pmt Assets Sold Under Agreements To Repurchase Average Balance
AssetsSoldUnderAgreementsToRepurchaseAverageBalance
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CY2017Q3 us-gaap Interest Expense Securities Sold Under Agreements To Repurchase
InterestExpenseSecuritiesSoldUnderAgreementsToRepurchase
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CY2016Q3 us-gaap Interest Expense Securities Sold Under Agreements To Repurchase
InterestExpenseSecuritiesSoldUnderAgreementsToRepurchase
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us-gaap Interest Expense Securities Sold Under Agreements To Repurchase
InterestExpenseSecuritiesSoldUnderAgreementsToRepurchase
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us-gaap Interest Expense Securities Sold Under Agreements To Repurchase
InterestExpenseSecuritiesSoldUnderAgreementsToRepurchase
66217000
CY2017Q3 pmt Asset Sold Under Agreements To Repurchase Maximum Daily Amount Outstanding
AssetSoldUnderAgreementsToRepurchaseMaximumDailyAmountOutstanding
3973869000
CY2016Q3 pmt Asset Sold Under Agreements To Repurchase Maximum Daily Amount Outstanding
AssetSoldUnderAgreementsToRepurchaseMaximumDailyAmountOutstanding
4824044000
pmt Asset Sold Under Agreements To Repurchase Maximum Daily Amount Outstanding
AssetSoldUnderAgreementsToRepurchaseMaximumDailyAmountOutstanding
4083326000
pmt Asset Sold Under Agreements To Repurchase Maximum Daily Amount Outstanding
AssetSoldUnderAgreementsToRepurchaseMaximumDailyAmountOutstanding
5221997000
CY2017Q3 pmt Assets Sold Under Agreements To Repurchase
AssetsSoldUnderAgreementsToRepurchase
3204054000
CY2016Q4 pmt Assets Sold Under Agreements To Repurchase
AssetsSoldUnderAgreementsToRepurchase
3784685000
pmt Securities Sold Under Agreements To Repurchase Weighted Average Interest Rate At Period End
SecuritiesSoldUnderAgreementsToRepurchaseWeightedAverageInterestRateAtPeriodEnd
0.0263
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SecuritiesSoldUnderAgreementsToRepurchaseWeightedAverageInterestRateAtPeriodEnd
0.0270
pmt Assets Sold Under Agreements Available Borrowing Capacity Committed
AssetsSoldUnderAgreementsAvailableBorrowingCapacityCommitted
457144000
CY2016 pmt Assets Sold Under Agreements Available Borrowing Capacity Committed
AssetsSoldUnderAgreementsAvailableBorrowingCapacityCommitted
518932000
pmt Securities Sold Under Agreements Available Borrowing Capacity Uncommitted
SecuritiesSoldUnderAgreementsAvailableBorrowingCapacityUncommitted
2233034000
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SecuritiesSoldUnderAgreementsAvailableBorrowingCapacityUncommitted
1092253000
pmt Securities Sold Under Agreements Available Borrowing Capacity
SecuritiesSoldUnderAgreementsAvailableBorrowingCapacity
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SecuritiesSoldUnderAgreementsAvailableBorrowingCapacity
1611185000
CY2017Q3 us-gaap Good Faith And Margin Deposits With Broker Dealers
GoodFaithAndMarginDepositsWithBrokerDealers
15037000
CY2016Q4 us-gaap Good Faith And Margin Deposits With Broker Dealers
GoodFaithAndMarginDepositsWithBrokerDealers
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pmt Repurchase Agreements Weighted Average Maturity Period
RepurchaseAgreementsWeightedAverageMaturityPeriod
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pmt Federal Home Loan Bank Advances Weighted Average Interest Rate During Period
FederalHomeLoanBankAdvancesWeightedAverageInterestRateDuringPeriod
0.0049
us-gaap Federal Home Loan Bank Advances Activity For Year Average Balance Of Agreements Outstanding
FederalHomeLoanBankAdvancesActivityForYearAverageBalanceOfAgreementsOutstanding
32560000
us-gaap Interest Expense Federal Home Loan Bank And Federal Reserve Bank Advances Short Term
InterestExpenseFederalHomeLoanBankAndFederalReserveBankAdvancesShortTerm
122000
CY2016Q3 pmt Federal Home Loan Bank Advances Activity For Year Maximum Daily Amount Outstanding
FederalHomeLoanBankAdvancesActivityForYearMaximumDailyAmountOutstanding
201130000
CY2017Q3 pmt Note Payable Weighted Average Interest Rate During Period
NotePayableWeightedAverageInterestRateDuringPeriod
0.0630
CY2016Q3 pmt Note Payable Weighted Average Interest Rate During Period
NotePayableWeightedAverageInterestRateDuringPeriod
0.0476
pmt Note Payable Weighted Average Interest Rate During Period
NotePayableWeightedAverageInterestRateDuringPeriod
0.0557
pmt Note Payable Weighted Average Interest Rate During Period
NotePayableWeightedAverageInterestRateDuringPeriod
0.0468
CY2017Q3 pmt Note Payable Average Balance During Period
NotePayableAverageBalanceDuringPeriod
79345000
CY2016Q3 pmt Note Payable Average Balance During Period
NotePayableAverageBalanceDuringPeriod
170907000
pmt Note Payable Average Balance During Period
NotePayableAverageBalanceDuringPeriod
152395000
pmt Note Payable Average Balance During Period
NotePayableAverageBalanceDuringPeriod
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CY2017Q3 pmt Note Payable Interest Expense During Period
NotePayableInterestExpenseDuringPeriod
2320000
CY2016Q3 pmt Note Payable Interest Expense During Period
NotePayableInterestExpenseDuringPeriod
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pmt Note Payable Interest Expense During Period
NotePayableInterestExpenseDuringPeriod
9719000
pmt Note Payable Interest Expense During Period
NotePayableInterestExpenseDuringPeriod
9217000
CY2017Q3 pmt Notes Payable Gross
NotesPayableGross
80106000
CY2016Q4 pmt Notes Payable Gross
NotesPayableGross
275106000
pmt Note Payable Weighted Average Interest Rate
NotePayableWeightedAverageInterestRate
0.0557
CY2016 pmt Note Payable Weighted Average Interest Rate
NotePayableWeightedAverageInterestRate
0.0473
CY2017Q3 pmt Mortgage Servicing Rights Secured Notes Payable
MortgageServicingRightsSecuredNotesPayable
778270000
CY2016Q4 pmt Mortgage Servicing Rights Secured Notes Payable
MortgageServicingRightsSecuredNotesPayable
656567000
CY2017Q3 pmt Convertible Debt Average Balance During Period
ConvertibleDebtAverageBalanceDuringPeriod
250000000
CY2016Q3 pmt Convertible Debt Average Balance During Period
ConvertibleDebtAverageBalanceDuringPeriod
250000000
pmt Convertible Debt Average Balance During Period
ConvertibleDebtAverageBalanceDuringPeriod
250000000
pmt Convertible Debt Average Balance During Period
ConvertibleDebtAverageBalanceDuringPeriod
250000000
CY2017Q3 us-gaap Convertible Notes Payable
ConvertibleNotesPayable
250000000
CY2016Q4 us-gaap Convertible Notes Payable
ConvertibleNotesPayable
250000000
CY2017Q2 pmt Representations And Warranties Liability
RepresentationsAndWarrantiesLiability
10697000
CY2016Q2 pmt Representations And Warranties Liability
RepresentationsAndWarrantiesLiability
19258000
CY2017Q3 pmt Provisions For Representations And Warranties Losses
ProvisionsForRepresentationsAndWarrantiesLosses
1075000
CY2016Q3 pmt Provisions For Representations And Warranties Losses
ProvisionsForRepresentationsAndWarrantiesLosses
781000
pmt Provisions For Representations And Warranties Losses
ProvisionsForRepresentationsAndWarrantiesLosses
2355000
pmt Provisions For Representations And Warranties Losses
ProvisionsForRepresentationsAndWarrantiesLosses
2002000
CY2017Q3 pmt Reduction In Liability Due To Change In Estimate
ReductionInLiabilityDueToChangeInEstimate
-1642000
CY2016Q3 pmt Reduction In Liability Due To Change In Estimate
ReductionInLiabilityDueToChangeInEstimate
-5098000
pmt Reduction In Liability Due To Change In Estimate
ReductionInLiabilityDueToChangeInEstimate
-7523000
pmt Reduction In Liability Due To Change In Estimate
ReductionInLiabilityDueToChangeInEstimate
-6822000
CY2017Q3 pmt Representations And Warranties Losses Incurred
RepresentationsAndWarrantiesLossesIncurred
83000
CY2016Q3 pmt Representations And Warranties Losses Incurred
RepresentationsAndWarrantiesLossesIncurred
14000
pmt Representations And Warranties Losses Incurred
RepresentationsAndWarrantiesLossesIncurred
135000
pmt Representations And Warranties Losses Incurred
RepresentationsAndWarrantiesLossesIncurred
424000
CY2016Q3 pmt Representations And Warranties Liability
RepresentationsAndWarrantiesLiability
14927000
CY2017Q3 pmt Guarantee Obligations Recourse Provision Unpaid Principal Balance Of Mortgage Loans Subject To Representations And Warranties
GuaranteeObligationsRecourseProvisionUnpaidPrincipalBalanceOfMortgageLoansSubjectToRepresentationsAndWarranties
67196537000
CY2016Q3 pmt Guarantee Obligations Recourse Provision Unpaid Principal Balance Of Mortgage Loans Subject To Representations And Warranties
GuaranteeObligationsRecourseProvisionUnpaidPrincipalBalanceOfMortgageLoansSubjectToRepresentationsAndWarranties
50167783000
CY2017Q3 pmt Mortgage Loans Acquired For Sale Outstanding Contractual Purchase Commitments
MortgageLoansAcquiredForSaleOutstandingContractualPurchaseCommitments
1259592000
CY2017Q3 pmt Commitments To Fund Deposits Securing Credit Risk Transfer Agreements
CommitmentsToFundDepositsSecuringCreditRiskTransferAgreements
356274000
CY2017Q3 us-gaap Preferred Stock Discount On Shares
PreferredStockDiscountOnShares
10293000
CY2017Q3 us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
966000
CY2016Q3 us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
687000
us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
1105000
CY2017Q3 us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
16417000
CY2016Q3 us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
10595000
CY2017Q3 pmt Stock Repurchase Program Cumulative Number Of Shares Repurchased
StockRepurchaseProgramCumulativeNumberOfSharesRepurchased
9518000
CY2017Q3 pmt Stock Repurchase Program Cost Of Cumulative Shares Repurchased
StockRepurchaseProgramCostOfCumulativeSharesRepurchased
133431000
pmt Agreement Effective Date
AgreementEffectiveDate
2013-02-01
us-gaap Payment For Incentive Fee
PaymentForIncentiveFee
10
us-gaap Performance Fees
PerformanceFees
100
CY2017Q3 pmt Contingent Underwriting Fee Payments To Underwriters
ContingentUnderwritingFeePaymentsToUnderwriters
61000
CY2016Q3 pmt Contingent Underwriting Fee Payments To Underwriters
ContingentUnderwritingFeePaymentsToUnderwriters
0
CY2017Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeited In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod
0
pmt Contingent Underwriting Fee Payments To Underwriters
ContingentUnderwritingFeePaymentsToUnderwriters
61000
pmt Contingent Underwriting Fee Payments To Underwriters
ContingentUnderwritingFeePaymentsToUnderwriters
0
CY2017Q3 pmt Average Balance During Period For Servicing Assets Portfolio
AverageBalanceDuringPeriodForServicingAssetsPortfolio
63584416000
CY2016Q3 pmt Average Balance During Period For Servicing Assets Portfolio
AverageBalanceDuringPeriodForServicingAssetsPortfolio
48997875000
pmt Average Balance During Period For Servicing Assets Portfolio
AverageBalanceDuringPeriodForServicingAssetsPortfolio
61764228000
pmt Average Balance During Period For Servicing Assets Portfolio
AverageBalanceDuringPeriodForServicingAssetsPortfolio
46125926000
CY2017Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
2
CY2016Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
0
CY2017Q3 pmt Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodGrantDateFairValue
36000
CY2016Q3 pmt Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodGrantDateFairValue
0
CY2017Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
0
CY2016Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
0
CY2016Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeited In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod
0
CY2017Q3 us-gaap Share Based Compensation
ShareBasedCompensation
737000
CY2016Q3 us-gaap Share Based Compensation
ShareBasedCompensation
1129000
CY2017Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.197
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.021
CY2016Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.213
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.068
CY2017Q3 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
231000
CY2016Q3 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
341000
us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
760000
CY2017Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
13039000
CY2016Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
35067000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
67119000
CY2017Q3 us-gaap Net Income Loss Attributable To Parent Diluted
NetIncomeLossAttributableToParentDiluted
13039000
CY2016Q3 us-gaap Net Income Loss Attributable To Parent Diluted
NetIncomeLossAttributableToParentDiluted
35067000
us-gaap Net Income Loss Attributable To Parent Diluted
NetIncomeLossAttributableToParentDiluted
67119000
us-gaap Net Income Loss Attributable To Parent Diluted
NetIncomeLossAttributableToParentDiluted
43611000
CY2017Q3 us-gaap Interest On Convertible Debt Net Of Tax
InterestOnConvertibleDebtNetOfTax
0
CY2016Q3 us-gaap Interest On Convertible Debt Net Of Tax
InterestOnConvertibleDebtNetOfTax
2181000
us-gaap Interest On Convertible Debt Net Of Tax
InterestOnConvertibleDebtNetOfTax
6564000
us-gaap Interest On Convertible Debt Net Of Tax
InterestOnConvertibleDebtNetOfTax
0
CY2017Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
13039000
CY2016Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
37248000
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
73683000
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
43611000
CY2017Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0
CY2016Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
308000
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0
CY2017Q3 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
0
CY2016Q3 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
8467000
us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
8467000
us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
0
CY2017Q3 pmt Other Operating Income Loss Net
OtherOperatingIncomeLossNet
10827000
CY2017Q3 pmt Loan Fulfillment Servicing And Management Fees Payable To Affiliate
LoanFulfillmentServicingAndManagementFeesPayableToAffiliate
34909000
CY2017Q3 us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
10691000
CY2016Q3 pmt Other Operating Income Loss Net
OtherOperatingIncomeLossNet
11624000
CY2016Q3 pmt Loan Fulfillment Servicing And Management Fees Payable To Affiliate
LoanFulfillmentServicingAndManagementFeesPayableToAffiliate
38294000
CY2016Q3 us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
14993000
CY2016Q3 us-gaap Assets
Assets
6618901000
pmt Other Operating Income Loss Net
OtherOperatingIncomeLossNet
26300000
pmt Loan Fulfillment Servicing And Management Fees Payable To Affiliate
LoanFulfillmentServicingAndManagementFeesPayableToAffiliate
93171000
us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
35783000
pmt Other Operating Income Loss Net
OtherOperatingIncomeLossNet
22788000
pmt Loan Fulfillment Servicing And Management Fees Payable To Affiliate
LoanFulfillmentServicingAndManagementFeesPayableToAffiliate
98220000
us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
41465000
us-gaap Interest Paid
InterestPaid
115108000
us-gaap Interest Paid
InterestPaid
111008000
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
-294000
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
388000
pmt Receipt Of Mortgage Servicing Rights As Proceeds From Sales Of Loans
ReceiptOfMortgageServicingRightsAsProceedsFromSalesOfLoans
207361000
pmt Receipt Of Mortgage Servicing Rights As Proceeds From Sales Of Loans
ReceiptOfMortgageServicingRightsAsProceedsFromSalesOfLoans
173906000
pmt Increase Decrease Of Excess Servicing Spread Recapture Receivable From Affiliates
IncreaseDecreaseOfExcessServicingSpreadRecaptureReceivableFromAffiliates
4160000
pmt Increase Decrease Of Excess Servicing Spread Recapture Receivable From Affiliates
IncreaseDecreaseOfExcessServicingSpreadRecaptureReceivableFromAffiliates
5039000
pmt Capitalization Of Servicing Advances Pursuant To Mortgage Loan Modifications
CapitalizationOfServicingAdvancesPursuantToMortgageLoanModifications
17759000
pmt Capitalization Of Servicing Advances Pursuant To Mortgage Loan Modifications
CapitalizationOfServicingAdvancesPursuantToMortgageLoanModifications
0
CY2017Q3 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
31655000
CY2016Q3 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
31804000
CY2017Q3 us-gaap Minimum Net Worth Required For Compliance
MinimumNetWorthRequiredForCompliance
2500000
CY2017Q3 us-gaap Loans Receivable Basis Spread On Variable Rate
LoansReceivableBasisSpreadOnVariableRate
0.0025
pmt Number Of Residential Mortgage Loans Served
NumberOfResidentialMortgageLoansServed
1-4

Files In Submission

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0001564590-17-022699.txt Edgar Link pending
0001564590-17-022699-xbrl.zip Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
pmt-10q_20170930.htm Edgar Link pending
pmt-20170930.xml Edgar Link completed
pmt-20170930.xsd Edgar Link pending
pmt-20170930_cal.xml Edgar Link unprocessable
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