2022 Q1 Form 10-Q Financial Statement

#000156459022018584 Filed on May 06, 2022

View on sec.gov

Income Statement

Concept 2022 Q1 2021 Q1
Revenue $81.84M $201.4M
YoY Change -59.36% -139.76%
Cost Of Revenue $115.5M $177.9M
YoY Change -35.08% 17.35%
Gross Profit $29.86M $99.90M
YoY Change -70.11% -117.31%
Gross Profit Margin 36.49% 49.6%
Selling, General & Admin $7.857M $6.400M
YoY Change 22.77% 72.97%
% of Gross Profit 26.31% 6.41%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $63.78M $110.4M
YoY Change -42.21% 41.67%
Operating Profit -$33.92M -$10.47M
YoY Change 224.0% -98.4%
Interest Expense $63.51M $76.31M
YoY Change -16.77% -5.87%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $18.06M $91.03M
YoY Change -80.16% -115.58%
Income Tax $37.19M $19.43M
% Of Pretax Income 205.93% 21.34%
Net Earnings -$19.13M $71.60M
YoY Change -126.72% -112.04%
Net Earnings / Revenue -23.37% 35.55%
Basic Earnings Per Share -$0.32 $0.67
Diluted Earnings Per Share -$0.32 $0.67
COMMON SHARES
Basic Shares Outstanding 94.15M 97.89M
Diluted Shares Outstanding 94.15M 98.10M

Balance Sheet

Concept 2022 Q1 2021 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $187.9M $93.00M
YoY Change 102.02% -91.54%
Cash & Equivalents $187.9M $92.84M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $342.4M $251.0M
YoY Change 36.43% -78.02%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $4.844B $4.689B
YoY Change 3.3% -23.11%
Other Assets
YoY Change
Total Long-Term Assets $12.05B $12.27B
YoY Change -1.84% 13.87%
TOTAL ASSETS
Total Short-Term Assets $342.4M $251.0M
Total Long-Term Assets $12.05B $12.27B
Total Assets $12.39B $12.52B
YoY Change -1.08% 5.07%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $27.72M $69.00M
YoY Change -59.82% 23.21%
Accrued Expenses $16.37M $19.00M
YoY Change -13.83% 35.71%
Deferred Revenue
YoY Change
Short-Term Debt $5.093B $6.092B
YoY Change -16.4% -5.52%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $5.184B $6.276B
YoY Change -17.41% -9.57%
LONG-TERM LIABILITIES
Long-Term Debt $4.695B $3.561B
YoY Change 31.84% 34.63%
Other Long-Term Liabilities $169.6M $259.0M
YoY Change -34.53% -44.89%
Total Long-Term Liabilities $4.864B $3.820B
YoY Change 27.34% 22.63%
TOTAL LIABILITIES
Total Short-Term Liabilities $5.184B $6.276B
Total Long-Term Liabilities $4.864B $3.820B
Total Liabilities $10.17B $10.17B
YoY Change 0.01% 0.69%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.222B $2.357B
YoY Change
Total Liabilities & Shareholders Equity $12.39B $12.52B
YoY Change -1.07% 5.06%

Cashflow Statement

Concept 2022 Q1 2021 Q1
OPERATING ACTIVITIES
Net Income -$19.13M $71.60M
YoY Change -126.72% -112.04%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities $1.747B -$1.869B
YoY Change -193.46% -209.62%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$196.6M $930.9M
YoY Change -121.12% -254.12%
Cash From Investing Activities -$196.6M $930.9M
YoY Change -121.12% -254.13%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $31.83M $0.00
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.422B 973.5M
YoY Change -246.02% -1018.7%
NET CHANGE
Cash From Operating Activities 1.747B -1.869B
Cash From Investing Activities -196.6M 930.9M
Cash From Financing Activities -1.422B 973.5M
Net Change In Cash 128.9M 35.14M
YoY Change 266.83% -96.47%
FREE CASH FLOW
Cash From Operating Activities $1.747B -$1.869B
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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ExcessServiceSpreadRecaptureOfMinimumPercentageLoanFeeRateAndUnpaidPrincipalBalanceModifiedMortgageLoans
0.90
CY2022Q1 pmt Deposits Securing Credit Risk Transfer Strip And Derivatives Liabilities
DepositsSecuringCreditRiskTransferStripAndDerivativesLiabilities
77600000
CY2021Q4 pmt Deposits Securing Credit Risk Transfer Strip And Derivatives Liabilities
DepositsSecuringCreditRiskTransferStripAndDerivativesLiabilities
27500000
CY2022Q1 pmt Fair Value Option Loans Held As Assets Aggregate Fair Value
FairValueOptionLoansHeldAsAssetsAggregateFairValue
1826482000
CY2022Q1 srt Mortgage Loans On Real Estate Principal Amount Of Delinquent Loans
MortgageLoansOnRealEstatePrincipalAmountOfDelinquentLoans
1899315000
CY2022Q1 us-gaap Fair Value Option Loans Held As Assets Aggregate Difference
FairValueOptionLoansHeldAsAssetsAggregateDifference
-72833000
CY2021Q4 pmt Fair Value Option Loans Held As Assets Aggregate Fair Value
FairValueOptionLoansHeldAsAssetsAggregateFairValue
1568726000
CY2021Q4 srt Mortgage Loans On Real Estate Principal Amount Of Delinquent Loans
MortgageLoansOnRealEstatePrincipalAmountOfDelinquentLoans
1528875000
CY2021Q4 us-gaap Fair Value Option Loans Held As Assets Aggregate Difference
FairValueOptionLoansHeldAsAssetsAggregateDifference
39851000
CY2022Q1 us-gaap Mortgages Held For Sale Fair Value Disclosure
MortgagesHeldForSaleFairValueDisclosure
1708745000
CY2021Q4 us-gaap Mortgages Held For Sale Fair Value Disclosure
MortgagesHeldForSaleFairValueDisclosure
4171025000
CY2022Q1 pmt Pledged Financial Instruments Not Separately Reported And Assets Separately Reported On Statement At Fair Value
PledgedFinancialInstrumentsNotSeparatelyReportedAndAssetsSeparatelyReportedOnStatementAtFairValue
1675107000
CY2021Q4 pmt Pledged Financial Instruments Not Separately Reported And Assets Separately Reported On Statement At Fair Value
PledgedFinancialInstrumentsNotSeparatelyReportedAndAssetsSeparatelyReportedOnStatementAtFairValue
4059479000
CY2022Q1 pmt Servicing Asset At Fair Value Additions From Loan Sales
ServicingAssetAtFairValueAdditionsFromLoanSales
194596000
CY2021Q1 pmt Servicing Asset At Fair Value Additions From Loan Sales
ServicingAssetAtFairValueAdditionsFromLoanSales
407696000
CY2022Q1 pmt Fair Value Unpaid Principal Balance Of Underlying Loans
FairValueUnpaidPrincipalBalanceOfUnderlyingLoans
11929172000
CY2021Q1 pmt Fair Value Unpaid Principal Balance Of Underlying Loans
FairValueUnpaidPrincipalBalanceOfUnderlyingLoans
32448891000
CY2022Q1 pmt Msr At Fair Value Service Fee Annual Rate At Initial Recognition
MSRAtFairValueServiceFeeAnnualRateAtInitialRecognition
0.0031
CY2021Q1 pmt Msr At Fair Value Service Fee Annual Rate At Initial Recognition
MSRAtFairValueServiceFeeAnnualRateAtInitialRecognition
0.0026
CY2022Q1 us-gaap Servicing Asset At Fair Value Amount
ServicingAssetAtFairValueAmount
3391172000
CY2021Q4 us-gaap Servicing Asset At Fair Value Amount
ServicingAssetAtFairValueAmount
2892855000
CY2022Q1 pmt Fair Value Unpaid Principal Of Underlying Loans Balance
FairValueUnpaidPrincipalOfUnderlyingLoansBalance
219017091000
CY2021Q4 pmt Fair Value Unpaid Principal Of Underlying Loans Balance
FairValueUnpaidPrincipalOfUnderlyingLoansBalance
216065626000
CY2022Q1 pmt Msr At Fair Value Service Fee Annual Rate
MSRAtFairValueServiceFeeAnnualRate
0.0028
CY2021Q4 pmt Msr At Fair Value Service Fee Annual Rate
MSRAtFairValueServiceFeeAnnualRate
0.0028
CY2022Q1 pmt Fair Value Weighted Average Coupon Interest Rate
FairValueWeightedAverageCouponInterestRate
0.033
CY2021 pmt Fair Value Weighted Average Coupon Interest Rate
FairValueWeightedAverageCouponInterestRate
0.030
CY2021Q4 us-gaap Derivative Liability Collateral Right To Reclaim Cash Offset
DerivativeLiabilityCollateralRightToReclaimCashOffset
4142000
CY2022Q1 us-gaap Derivative Assets
DerivativeAssets
77823000
CY2022Q1 us-gaap Derivative Liabilities
DerivativeLiabilities
60755000
CY2021Q4 us-gaap Derivative Assets
DerivativeAssets
34238000
CY2021Q4 us-gaap Derivative Liabilities
DerivativeLiabilities
15369000
CY2022Q1 pmt Margin Deposit Assets Liabilities
MarginDepositAssetsLiabilities
99049000
CY2021Q4 pmt Margin Deposit Assets Liabilities
MarginDepositAssetsLiabilities
6965000
CY2022Q1 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
221526000
CY2022Q1 pmt Derivative Fair Value Of Asset Master Netting Adjustment
DerivativeFairValueOfAssetMasterNettingAdjustment
-143703000
CY2022Q1 pmt Derivative Fair Value Of Asset Master Netting Adjustment
DerivativeFairValueOfAssetMasterNettingAdjustment
-143703000
CY2022Q1 us-gaap Mortgage Loans On Real Estate
MortgageLoansOnRealEstate
1826482000
CY2021Q4 us-gaap Mortgage Loans On Real Estate
MortgageLoansOnRealEstate
1568726000
CY2022Q1 pmt Mortgage Loans At Fair Value
MortgageLoansAtFairValue
1822533000
CY2021Q4 pmt Mortgage Loans At Fair Value
MortgageLoansAtFairValue
1564565000
CY2022Q1 us-gaap Pledged Assets Separately Reported Loans Pledged As Collateral At Fair Value
PledgedAssetsSeparatelyReportedLoansPledgedAsCollateralAtFairValue
1822947000
CY2021Q4 us-gaap Pledged Assets Separately Reported Loans Pledged As Collateral At Fair Value
PledgedAssetsSeparatelyReportedLoansPledgedAsCollateralAtFairValue
1564924000
CY2022Q1 us-gaap Retained Interest Fair Value Disclosure
RetainedInterestFairValueDisclosure
99400000
CY2021Q4 us-gaap Retained Interest Fair Value Disclosure
RetainedInterestFairValueDisclosure
85300000
CY2022Q1 us-gaap Derivative Assets
DerivativeAssets
77823000
CY2021Q4 us-gaap Derivative Assets
DerivativeAssets
34238000
CY2022Q1 pmt Derivative And Credit Risk Transfer Strip Assets
DerivativeAndCreditRiskTransferStripAssets
77823000
CY2021Q4 pmt Derivative And Credit Risk Transfer Strip Assets
DerivativeAndCreditRiskTransferStripAssets
34238000
CY2022Q1 us-gaap Derivative Liabilities
DerivativeLiabilities
60755000
CY2021Q4 us-gaap Derivative Liabilities
DerivativeLiabilities
15369000
CY2022Q1 pmt Carrying Value Of Credit Risk Transfer Strips Liabilities
CarryingValueOfCreditRiskTransferStripsLiabilities
68595000
CY2021Q4 pmt Carrying Value Of Credit Risk Transfer Strips Liabilities
CarryingValueOfCreditRiskTransferStripsLiabilities
26837000
CY2022Q1 pmt Derivative And Credit Risk Transfer Strip Liabilities
DerivativeAndCreditRiskTransferStripLiabilities
129350000
CY2021Q4 pmt Derivative And Credit Risk Transfer Strip Liabilities
DerivativeAndCreditRiskTransferStripLiabilities
42206000
CY2022Q1 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
221526000
CY2022Q1 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
105410000
CY2021Q4 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
45346000
CY2021Q4 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
19511000
CY2022Q1 pmt Derivative Fair Value Of Asset Master Netting Adjustment
DerivativeFairValueOfAssetMasterNettingAdjustment
-143703000
CY2022Q1 us-gaap Derivative Liability Collateral Right To Reclaim Cash Offset
DerivativeLiabilityCollateralRightToReclaimCashOffset
44655000
CY2021Q4 pmt Derivative Fair Value Of Asset Master Netting Adjustment
DerivativeFairValueOfAssetMasterNettingAdjustment
-11108000
CY2021Q4 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
45346000
CY2021Q4 pmt Derivative Fair Value Of Asset Master Netting Adjustment
DerivativeFairValueOfAssetMasterNettingAdjustment
-11108000
CY2021Q4 pmt Derivative Fair Value Of Asset Master Netting Adjustment
DerivativeFairValueOfAssetMasterNettingAdjustment
-11108000
CY2021Q4 us-gaap Derivative Assets
DerivativeAssets
34238000
CY2022Q1 us-gaap Derivative Assets
DerivativeAssets
77823000
CY2022Q1 us-gaap Cash Collateral For Borrowed Securities
CashCollateralForBorrowedSecurities
0
CY2022Q1 us-gaap Derivative Fair Value Of Derivative Asset Amount Not Offset Against Collateral
DerivativeFairValueOfDerivativeAssetAmountNotOffsetAgainstCollateral
77823000
CY2021Q4 us-gaap Derivative Assets
DerivativeAssets
34238000
CY2021Q4 us-gaap Derivative Asset Securities Purchased Under Agreements To Resell Securities Borrowed Liability
DerivativeAssetSecuritiesPurchasedUnderAgreementsToResellSecuritiesBorrowedLiability
0
CY2021Q4 us-gaap Cash Collateral For Borrowed Securities
CashCollateralForBorrowedSecurities
0
CY2021Q4 us-gaap Derivative Fair Value Of Derivative Asset Amount Not Offset Against Collateral
DerivativeFairValueOfDerivativeAssetAmountNotOffsetAgainstCollateral
34238000
CY2022Q1 us-gaap Derivative Liability Securities Sold Under Agreements To Resell Securities Loaned Gross
DerivativeLiabilitySecuritiesSoldUnderAgreementsToResellSecuritiesLoanedGross
5198110000
CY2022Q1 us-gaap Derivative Liability Collateral Right To Reclaim Cash Offset
DerivativeLiabilityCollateralRightToReclaimCashOffset
44655000
CY2022Q1 us-gaap Derivative Liability Securities Sold Under Agreements To Resell Securities Loaned
DerivativeLiabilitySecuritiesSoldUnderAgreementsToResellSecuritiesLoaned
5153455000
CY2021Q4 us-gaap Derivative Liability Securities Sold Under Agreements To Resell Securities Loaned Gross
DerivativeLiabilitySecuritiesSoldUnderAgreementsToResellSecuritiesLoanedGross
6691401000
CY2021Q4 us-gaap Derivative Liability Collateral Right To Reclaim Cash Offset
DerivativeLiabilityCollateralRightToReclaimCashOffset
4142000
CY2021Q4 us-gaap Derivative Liability Securities Sold Under Agreements To Resell Securities Loaned
DerivativeLiabilitySecuritiesSoldUnderAgreementsToResellSecuritiesLoaned
6687259000
CY2021Q4 us-gaap Servicing Asset At Fair Value Amount
ServicingAssetAtFairValueAmount
2892855000
CY2020Q4 us-gaap Servicing Asset At Fair Value Amount
ServicingAssetAtFairValueAmount
1755236000
CY2022Q1 us-gaap Servicing Asset At Fair Value Changes In Fair Value Resulting From Changes In Valuation Inputs Or Changes In Assumptions
ServicingAssetAtFairValueChangesInFairValueResultingFromChangesInValuationInputsOrChangesInAssumptions
392640000
CY2021Q1 us-gaap Servicing Asset At Fair Value Changes In Fair Value Resulting From Changes In Valuation Inputs Or Changes In Assumptions
ServicingAssetAtFairValueChangesInFairValueResultingFromChangesInValuationInputsOrChangesInAssumptions
337667000
CY2022Q1 us-gaap Servicing Asset At Fair Value Other Changes In Fair Value
ServicingAssetAtFairValueOtherChangesInFairValue
-88919000
CY2021Q1 us-gaap Servicing Asset At Fair Value Other Changes In Fair Value
ServicingAssetAtFairValueOtherChangesInFairValue
-59385000
CY2022Q1 us-gaap Servicing Asset At Fair Value Period Increase Decrease
ServicingAssetAtFairValuePeriodIncreaseDecrease
303721000
CY2021Q1 us-gaap Servicing Asset At Fair Value Period Increase Decrease
ServicingAssetAtFairValuePeriodIncreaseDecrease
278282000
CY2022Q1 us-gaap Servicing Asset At Fair Value Amount
ServicingAssetAtFairValueAmount
3391172000
CY2021Q1 us-gaap Servicing Asset At Fair Value Amount
ServicingAssetAtFairValueAmount
2441214000
CY2022Q1 us-gaap Contractually Specified Servicing Fees Amount
ContractuallySpecifiedServicingFeesAmount
146885000
CY2021Q1 us-gaap Contractually Specified Servicing Fees Amount
ContractuallySpecifiedServicingFeesAmount
116287000
CY2022Q1 us-gaap Late Fee Income Generated By Servicing Financial Assets Amount
LateFeeIncomeGeneratedByServicingFinancialAssetsAmount
612000
CY2021Q1 us-gaap Late Fee Income Generated By Servicing Financial Assets Amount
LateFeeIncomeGeneratedByServicingFinancialAssetsAmount
412000
CY2022Q1 us-gaap Ancillary Fee Income Generated By Servicing Financial Assets Amount
AncillaryFeeIncomeGeneratedByServicingFinancialAssetsAmount
8502000
CY2021Q1 us-gaap Ancillary Fee Income Generated By Servicing Financial Assets Amount
AncillaryFeeIncomeGeneratedByServicingFinancialAssetsAmount
15833000
CY2022Q1 pmt Mortgage Loan Other Servicing Fees
MortgageLoanOtherServicingFees
9114000
CY2021Q1 pmt Mortgage Loan Other Servicing Fees
MortgageLoanOtherServicingFees
16245000
CY2022Q1 us-gaap Contractually Specified Servicing Fees Late Fees And Ancillary Fees Earned In Exchange For Servicing Financial Assets
ContractuallySpecifiedServicingFeesLateFeesAndAncillaryFeesEarnedInExchangeForServicingFinancialAssets
155999000
CY2021Q1 us-gaap Contractually Specified Servicing Fees Late Fees And Ancillary Fees Earned In Exchange For Servicing Financial Assets
ContractuallySpecifiedServicingFeesLateFeesAndAncillaryFeesEarnedInExchangeForServicingFinancialAssets
132532000
CY2022Q1 pmt Average Mortgage Servicing Rights Servicing Portfolio
AverageMortgageServicingRightsServicingPortfolio
217692169000
CY2021Q1 pmt Average Mortgage Servicing Rights Servicing Portfolio
AverageMortgageServicingRightsServicingPortfolio
177161626000
CY2022Q1 us-gaap Margin Deposit Assets
MarginDepositAssets
90974000
CY2021Q4 us-gaap Margin Deposit Assets
MarginDepositAssets
193418000
CY2022Q1 us-gaap Due From Correspondent Brokers
DueFromCorrespondentBrokers
54141000
CY2021Q4 us-gaap Due From Correspondent Brokers
DueFromCorrespondentBrokers
27539000
CY2022Q1 us-gaap Interest Receivable
InterestReceivable
13428000
CY2021Q4 us-gaap Interest Receivable
InterestReceivable
15168000
CY2022Q1 us-gaap Real Estate Acquired Through Foreclosure
RealEstateAcquiredThroughForeclosure
11719000
CY2021Q4 us-gaap Real Estate Acquired Through Foreclosure
RealEstateAcquiredThroughForeclosure
14382000
CY2022Q1 pmt Servicing Fees Receivable
ServicingFeesReceivable
10473000
CY2021Q4 pmt Servicing Fees Receivable
ServicingFeesReceivable
16756000
CY2022Q1 us-gaap Other Receivables
OtherReceivables
4215000
CY2021Q4 us-gaap Other Receivables
OtherReceivables
15299000
CY2022Q1 us-gaap Other Assets Miscellaneous
OtherAssetsMiscellaneous
12239000
CY2021Q4 us-gaap Other Assets Miscellaneous
OtherAssetsMiscellaneous
3737000
CY2022Q1 us-gaap Other Assets
OtherAssets
197189000
CY2021Q4 us-gaap Other Assets
OtherAssets
286299000
CY2022Q1 pmt Securities Sold Under Agreements To Repurchase Weighted Average Interest Rate During Period
SecuritiesSoldUnderAgreementsToRepurchaseWeightedAverageInterestRateDuringPeriod
0.0106
CY2021Q1 pmt Securities Sold Under Agreements To Repurchase Weighted Average Interest Rate During Period
SecuritiesSoldUnderAgreementsToRepurchaseWeightedAverageInterestRateDuringPeriod
0.0160
CY2022Q1 pmt Assets Sold Under Agreements To Repurchase Average Balance
AssetsSoldUnderAgreementsToRepurchaseAverageBalance
4999896000
CY2021Q1 pmt Assets Sold Under Agreements To Repurchase Average Balance
AssetsSoldUnderAgreementsToRepurchaseAverageBalance
5971290000
CY2022Q1 us-gaap Interest Expense Securities Sold Under Agreements To Repurchase
InterestExpenseSecuritiesSoldUnderAgreementsToRepurchase
15571000
CY2021Q1 us-gaap Interest Expense Securities Sold Under Agreements To Repurchase
InterestExpenseSecuritiesSoldUnderAgreementsToRepurchase
28659000
CY2022Q1 pmt Asset Sold Under Agreements To Repurchase Maximum Daily Amount Outstanding
AssetSoldUnderAgreementsToRepurchaseMaximumDailyAmountOutstanding
7405436000
CY2021Q1 pmt Asset Sold Under Agreements To Repurchase Maximum Daily Amount Outstanding
AssetSoldUnderAgreementsToRepurchaseMaximumDailyAmountOutstanding
7208807000
CY2022Q1 pmt Assets Sold Under Agreements To Repurchase
AssetsSoldUnderAgreementsToRepurchase
5094835000
CY2021Q4 pmt Assets Sold Under Agreements To Repurchase
AssetsSoldUnderAgreementsToRepurchase
6674541000
CY2022Q1 us-gaap Assets Sold Under Agreements To Repurchase Repurchase Liability
AssetsSoldUnderAgreementsToRepurchaseRepurchaseLiability
5092700000
CY2021Q4 us-gaap Assets Sold Under Agreements To Repurchase Repurchase Liability
AssetsSoldUnderAgreementsToRepurchaseRepurchaseLiability
6671890000
CY2022Q1 pmt Securities Sold Under Agreements To Repurchase Weighted Average Interest Rate At Period End
SecuritiesSoldUnderAgreementsToRepurchaseWeightedAverageInterestRateAtPeriodEnd
0.0123
CY2021 pmt Securities Sold Under Agreements To Repurchase Weighted Average Interest Rate At Period End
SecuritiesSoldUnderAgreementsToRepurchaseWeightedAverageInterestRateAtPeriodEnd
0.0108
CY2022Q1 pmt Assets Sold Under Agreements Available Borrowing Capacity Committed
AssetsSoldUnderAgreementsAvailableBorrowingCapacityCommitted
1211221000
CY2021 pmt Assets Sold Under Agreements Available Borrowing Capacity Committed
AssetsSoldUnderAgreementsAvailableBorrowingCapacityCommitted
289436000
CY2022Q1 pmt Securities Sold Under Agreements Available Borrowing Capacity Uncommitted
SecuritiesSoldUnderAgreementsAvailableBorrowingCapacityUncommitted
6031056000
CY2021 pmt Securities Sold Under Agreements Available Borrowing Capacity Uncommitted
SecuritiesSoldUnderAgreementsAvailableBorrowingCapacityUncommitted
4875433000
CY2022Q1 pmt Securities Sold Under Agreements Available Borrowing Capacity
SecuritiesSoldUnderAgreementsAvailableBorrowingCapacity
7242277000
CY2021 pmt Securities Sold Under Agreements Available Borrowing Capacity
SecuritiesSoldUnderAgreementsAvailableBorrowingCapacity
5164869000
CY2022Q1 us-gaap Good Faith And Margin Deposits With Broker Dealers
GoodFaithAndMarginDepositsWithBrokerDealers
44153000
CY2021Q4 us-gaap Good Faith And Margin Deposits With Broker Dealers
GoodFaithAndMarginDepositsWithBrokerDealers
67997000
CY2022Q1 us-gaap Securities Sold Under Agreements To Repurchase
SecuritiesSoldUnderAgreementsToRepurchase
5094835000
CY2022Q1 pmt Notes Payable Gross
NotesPayableGross
2378710000
CY2021Q4 pmt Notes Payable Gross
NotesPayableGross
2479636000
CY2022Q1 us-gaap Notes Payable
NotesPayable
2372279000
CY2021Q4 us-gaap Notes Payable
NotesPayable
2471961000
CY2022Q1 pmt Mortgage Servicing Rights Secured Notes Payable
MortgageServicingRightsSecuredNotesPayable
3352952000
CY2021Q4 pmt Mortgage Servicing Rights Secured Notes Payable
MortgageServicingRightsSecuredNotesPayable
2863544000
CY2022Q1 pmt Deposits Securing Credit Risk Transfers Pledged To Creditors
DepositsSecuringCreditRiskTransfersPledgedToCreditors
1434835000
CY2021 pmt Deposits Securing Credit Risk Transfers Pledged To Creditors
DepositsSecuringCreditRiskTransfersPledgedToCreditors
1704911000
CY2022Q1 us-gaap Convertible Notes Payable
ConvertibleNotesPayable
555000000
CY2021Q4 us-gaap Convertible Notes Payable
ConvertibleNotesPayable
555000000
CY2022Q1 pmt Conversion Option Allocated To Additional Paid In Capital And Unamortized Debt Issuance Costs
ConversionOptionAllocatedToAdditionalPaidInCapitalAndUnamortizedDebtIssuanceCosts
10900000
CY2021Q4 pmt Conversion Option Allocated To Additional Paid In Capital And Unamortized Debt Issuance Costs
ConversionOptionAllocatedToAdditionalPaidInCapitalAndUnamortizedDebtIssuanceCosts
52541000
CY2022Q1 us-gaap Convertible Debt
ConvertibleDebt
544100000
CY2021Q4 us-gaap Convertible Debt
ConvertibleDebt
502459000
CY2022Q1 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
50300000
CY2022Q1 pmt Notes Payable Secured By Credit Risk Transfer And Mortage Servicing Asset
NotesPayableSecuredByCreditRiskTransferAndMortageServicingAsset
2378710000
CY2023Q1 pmt Notes Payable Secured By Credit Risk Transfer And Mortage Servicing Asset
NotesPayableSecuredByCreditRiskTransferAndMortageServicingAsset
1011213000
CY2024Q1 pmt Notes Payable Secured By Credit Risk Transfer And Mortage Servicing Asset
NotesPayableSecuredByCreditRiskTransferAndMortageServicingAsset
1017497000
CY2025Q1 pmt Notes Payable Secured By Credit Risk Transfer And Mortage Servicing Asset
NotesPayableSecuredByCreditRiskTransferAndMortageServicingAsset
0
CY2026Q1 pmt Notes Payable Secured By Credit Risk Transfer And Mortage Servicing Asset
NotesPayableSecuredByCreditRiskTransferAndMortageServicingAsset
350000000
CY2027Q1 pmt Notes Payable Secured By Credit Risk Transfer And Mortage Servicing Asset
NotesPayableSecuredByCreditRiskTransferAndMortageServicingAsset
0
CY2028Q1 pmt Notes Payable Secured By Credit Risk Transfer And Mortage Servicing Asset
NotesPayableSecuredByCreditRiskTransferAndMortageServicingAsset
0
CY2022Q1 us-gaap Convertible Notes Payable
ConvertibleNotesPayable
555000000
CY2023Q1 us-gaap Convertible Notes Payable
ConvertibleNotesPayable
0
CY2024Q1 us-gaap Convertible Notes Payable
ConvertibleNotesPayable
0
CY2025Q1 us-gaap Convertible Notes Payable
ConvertibleNotesPayable
210000000
CY2026Q1 us-gaap Convertible Notes Payable
ConvertibleNotesPayable
345000000
CY2027Q1 us-gaap Convertible Notes Payable
ConvertibleNotesPayable
0
CY2028Q1 us-gaap Convertible Notes Payable
ConvertibleNotesPayable
0
CY2022Q1 us-gaap Principal Amount Outstanding On Loans Securitized
PrincipalAmountOutstandingOnLoansSecuritized
1787300000
CY2023Q1 us-gaap Principal Amount Outstanding On Loans Securitized
PrincipalAmountOutstandingOnLoansSecuritized
0
CY2024Q1 us-gaap Principal Amount Outstanding On Loans Securitized
PrincipalAmountOutstandingOnLoansSecuritized
0
CY2025Q1 us-gaap Principal Amount Outstanding On Loans Securitized
PrincipalAmountOutstandingOnLoansSecuritized
0
CY2026Q1 us-gaap Principal Amount Outstanding On Loans Securitized
PrincipalAmountOutstandingOnLoansSecuritized
0
CY2027Q1 us-gaap Principal Amount Outstanding On Loans Securitized
PrincipalAmountOutstandingOnLoansSecuritized
0
CY2028Q1 us-gaap Principal Amount Outstanding On Loans Securitized
PrincipalAmountOutstandingOnLoansSecuritized
1787300000
CY2022Q1 pmt Interest Only Security Payable At Fair Value
InterestOnlySecurityPayableAtFairValue
16373000
CY2023Q1 pmt Interest Only Security Payable At Fair Value
InterestOnlySecurityPayableAtFairValue
0
CY2024Q1 pmt Interest Only Security Payable At Fair Value
InterestOnlySecurityPayableAtFairValue
0
CY2025Q1 pmt Interest Only Security Payable At Fair Value
InterestOnlySecurityPayableAtFairValue
0
CY2026Q1 pmt Interest Only Security Payable At Fair Value
InterestOnlySecurityPayableAtFairValue
0
CY2027Q1 pmt Interest Only Security Payable At Fair Value
InterestOnlySecurityPayableAtFairValue
0
CY2028Q1 pmt Interest Only Security Payable At Fair Value
InterestOnlySecurityPayableAtFairValue
16373000
CY2022Q1 us-gaap Long Term Debt
LongTermDebt
4737383000
CY2023Q1 us-gaap Long Term Debt
LongTermDebt
1011213000
CY2024Q1 us-gaap Long Term Debt
LongTermDebt
1017497000
CY2025Q1 us-gaap Long Term Debt
LongTermDebt
210000000
CY2026Q1 us-gaap Long Term Debt
LongTermDebt
695000000
CY2027Q1 us-gaap Long Term Debt
LongTermDebt
0
CY2028Q1 us-gaap Long Term Debt
LongTermDebt
1803673000
CY2021Q4 pmt Representations And Warranties Liability
RepresentationsAndWarrantiesLiability
40249000
CY2020Q4 pmt Representations And Warranties Liability
RepresentationsAndWarrantiesLiability
21893000
CY2022Q1 pmt Provisions For Representations And Warranties Losses
ProvisionsForRepresentationsAndWarrantiesLosses
1317000
CY2021Q1 pmt Provisions For Representations And Warranties Losses
ProvisionsForRepresentationsAndWarrantiesLosses
8513000
CY2022Q1 pmt Non Cash Gain From Reduction In Liability Due To Change In Estimate
NonCashGainFromReductionInLiabilityDueToChangeInEstimate
1165000
CY2021Q1 pmt Non Cash Gain From Reduction In Liability Due To Change In Estimate
NonCashGainFromReductionInLiabilityDueToChangeInEstimate
1424000
CY2022Q1 pmt Representations And Warranties Recoveries Losses Net
RepresentationsAndWarrantiesRecoveriesLossesNet
-176000
CY2021Q1 pmt Representations And Warranties Recoveries Losses Net
RepresentationsAndWarrantiesRecoveriesLossesNet
-15000
CY2022Q1 pmt Representations And Warranties Liability
RepresentationsAndWarrantiesLiability
40225000
CY2021Q1 pmt Representations And Warranties Liability
RepresentationsAndWarrantiesLiability
28967000
CY2022Q1 pmt Guarantee Obligations Recourse Provision Unpaid Principal Balance Of Mortgage Loans Subject To Representations And Warranties
GuaranteeObligationsRecourseProvisionUnpaidPrincipalBalanceOfMortgageLoansSubjectToRepresentationsAndWarranties
217466262000
CY2021Q1 pmt Guarantee Obligations Recourse Provision Unpaid Principal Balance Of Mortgage Loans Subject To Representations And Warranties
GuaranteeObligationsRecourseProvisionUnpaidPrincipalBalanceOfMortgageLoansSubjectToRepresentationsAndWarranties
177595762000
CY2022Q1 pmt Mortgage Loans Acquired For Sale Outstanding Contractual Purchase Commitments
MortgageLoansAcquiredForSaleOutstandingContractualPurchaseCommitments
1871490000
CY2022Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
22400000
CY2022Q1 us-gaap Preferred Stock Liquidation Preference Value
PreferredStockLiquidationPreferenceValue
560000000
CY2022Q1 us-gaap Preferred Stock Discount On Shares
PreferredStockDiscountOnShares
18518000
CY2022Q1 us-gaap Preferred Stock Value
PreferredStockValue
541482000
CY2015Q3 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
300000000
CY2021Q2 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
400000000
CY2021Q1 us-gaap Share Based Compensation
ShareBasedCompensation
1738000
CY2022Q1 us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
1974000
CY2021Q1 us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
0
CY2022Q1 pmt Stock Repurchase Program Cumulative Number Of Shares Repurchased
StockRepurchaseProgramCumulativeNumberOfSharesRepurchased
22571000
CY2022Q1 us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
31829000
CY2021Q1 us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
0
CY2022Q1 pmt Stock Repurchase Program Cost Of Cumulative Shares Repurchased
StockRepurchaseProgramCostOfCumulativeSharesRepurchased
342576000
CY2022Q1 pmt Gain Loss On Asset Backed Financing At Fair Value
GainLossOnAssetBackedFinancingAtFairValue
89174000
CY2021Q1 pmt Gain Loss On Asset Backed Financing At Fair Value
GainLossOnAssetBackedFinancingAtFairValue
900000
CY2022Q1 pmt Gain Loss On Investments And Financings
GainLossOnInvestmentsAndFinancings
-229095000
CY2021Q1 pmt Gain Loss On Investments And Financings
GainLossOnInvestmentsAndFinancings
83191000
CY2022Q1 pmt Gain Loss On Sale Of Mortgage Loans Acquired For Sale Cash Portion
GainLossOnSaleOfMortgageLoansAcquiredForSaleCashPortion
-439788000
CY2021Q1 pmt Gain Loss On Sale Of Mortgage Loans Acquired For Sale Cash Portion
GainLossOnSaleOfMortgageLoansAcquiredForSaleCashPortion
-592789000
CY2022Q1 us-gaap Gain Loss On Sale Of Mortgage Loans
GainLossOnSaleOfMortgageLoans
104343000
CY2021Q1 us-gaap Gain Loss On Sale Of Mortgage Loans
GainLossOnSaleOfMortgageLoans
180787000
CY2022Q1 us-gaap Gain Loss On Sales Of Loans Net
GainLossOnSalesOfLoansNet
3953000
CY2021Q1 us-gaap Gain Loss On Sales Of Loans Net
GainLossOnSalesOfLoansNet
53012000
CY2022Q1 us-gaap Interest Income Operating
InterestIncomeOperating
51063000
CY2021Q1 us-gaap Interest Income Operating
InterestIncomeOperating
37589000
CY2022Q1 pmt Asset Backed Secured Financing Interest Expense
AssetBackedSecuredFinancingInterestExpense
11027000
CY2021Q1 pmt Asset Backed Secured Financing Interest Expense
AssetBackedSecuredFinancingInterestExpense
168000
CY2022Q1 us-gaap Interest Expense
InterestExpense
63514000
CY2021Q1 us-gaap Interest Expense
InterestExpense
76308000
CY2022Q1 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-12451000
CY2021Q1 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-38719000
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
227000
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
185000
CY2022Q1 pmt Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodGrantDateFairValue
3557000
CY2021Q1 pmt Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodGrantDateFairValue
3519000
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
119000
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
137000
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeited In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod
9000
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeited In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod
0
CY2022Q1 us-gaap Share Based Compensation
ShareBasedCompensation
1029000
CY2022Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
2.059
CY2022Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
18100000
CY2021Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
91000000.0
CY2022Q1 pmt Percentage Of Deduction From Taxable Income For Ordinary Reit Dividends
PercentageOfDeductionFromTaxableIncomeForOrdinaryREITDividends
0.20
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
-19129000
CY2021Q1 us-gaap Net Income Loss
NetIncomeLoss
71603000
CY2022Q1 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
10455000
CY2021Q1 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
6234000
CY2022Q1 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
104000
CY2021Q1 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
120000
CY2022Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-29688000
CY2021Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
65249000
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
94146000
CY2021Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
97892000
CY2022Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0
CY2021Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
211000
CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
94146000
CY2021Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
98103000
CY2022Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.32
CY2021Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.67
CY2022Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.32
CY2021Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.67
CY2022Q1 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
4
CY2022Q1 pmt Net Gains Losses On Investments And Financings
NetGainsLossesOnInvestmentsAndFinancings
-229095000
CY2022Q1 us-gaap Gain Loss On Sales Of Loans Net
GainLossOnSalesOfLoansNet
3953000
CY2022Q1 us-gaap Interest Income Operating
InterestIncomeOperating
51063000
CY2022Q1 us-gaap Interest Expense
InterestExpense
63514000
CY2022Q1 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-12451000
CY2022Q1 pmt Other Operating Income Loss Net
OtherOperatingIncomeLossNet
15254000
CY2022Q1 us-gaap Revenues Net Of Interest Expense
RevenuesNetOfInterestExpense
81839000
CY2022Q1 pmt Loan Management Fees And Fulfillment Servicing Payable To Affiliate
LoanManagementFeesAndFulfillmentServicingPayableToAffiliate
37842000
CY2022Q1 us-gaap Management Fee Expense
ManagementFeeExpense
8117000
CY2022Q1 us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
17822000
CY2022Q1 us-gaap Operating Expenses
OperatingExpenses
63781000
CY2022Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
18058000
CY2022Q1 us-gaap Assets
Assets
12387515000
CY2021Q1 pmt Servicing Income Loss Net Of Valuation Adjustments
ServicingIncomeLossNetOfValuationAdjustments
50045000
CY2021Q1 pmt Net Gains Losses On Investments And Financings
NetGainsLossesOnInvestmentsAndFinancings
83191000
CY2021Q1 us-gaap Gain Loss On Sales Of Loans Net
GainLossOnSalesOfLoansNet
53012000
CY2021Q1 us-gaap Interest Income Operating
InterestIncomeOperating
37589000
CY2021Q1 us-gaap Interest Expense
InterestExpense
76308000
CY2021Q1 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-38719000
CY2021Q1 pmt Other Operating Income Loss Net
OtherOperatingIncomeLossNet
53868000
CY2021Q1 us-gaap Revenues Net Of Interest Expense
RevenuesNetOfInterestExpense
201397000
CY2021Q1 pmt Loan Management Fees And Fulfillment Servicing Payable To Affiliate
LoanManagementFeesAndFulfillmentServicingPayableToAffiliate
79928000
CY2021Q1 us-gaap Management Fee Expense
ManagementFeeExpense
8449000
CY2021Q1 us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
21992000
CY2021Q1 us-gaap Operating Expenses
OperatingExpenses
110369000
CY2021Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
91028000
CY2021Q1 us-gaap Assets
Assets
12522254000

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