| Cover | 12 Months Ended |
| Dec. 31, 2022 | |
| Document Information [Line Items] | |
| Document Type | DEF 14A |
| Amendment Flag | false |
| Entity Information [Line Items] | |
| Entity Registrant Name | PennyMac Financial Services, Inc. |
| Entity Central Index Key | 0001745916 |
| Pay vs Performance Disclosure | 12 Months Ended | ||
| Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | Dec. 31, 2020 USD ($) | |
| Pay vs Performance Disclosure [Table] | |||
| Pay vs Performance [Table Text Block] | PAY VERSUS PERFORMANCE As required by Section 953(a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act and Item 402(v) of Regulation S-K, Actually Year Summary (1) Compensation (2) Average (3) Average Paid to Other s(4) Value of Initial Fixed $100 Investment Based On: Net Income Return on Equity (6 ) PFSI Total (5) Peer Group (5) 2022 $ 9,671,051 $ 6,517,122 $ 3,445,387 $ 2,243,109 $ 173.29 $ 98.60 $ 476 Million 14 % 2021 $ 13,575,224 $ 17,262,152 $ 5,473,525 $ 6,931,492 $ 210.33 $ 121.70 $ 1.0 Billion 29 % 2020 $ 12,375,328 $ 20,796,560 $ 4,887,892 $ 8,302,467 $ 195.34 $ 95.21 $ 1.6 Billion 61 % (1) Mr. Spector was our principal executive officer (“CEO”) for all years shown. The amounts reported are the amounts of total compensation reported for our CEO for each corresponding year in the “Total” column of the Summary Compensation Table in each applicable year. (2) The amount reported represent the Compensation Actually Paid to our CEO, computed in accordance with Item 402(v) of Regulation S-K, Adjustments to Determine Compensation “Actually Paid” for the CEO (7) 2022 2021 2020 SUMMARY COMPENSATION – CEO $ 9,671,051 $ 13,575,224 $ 12,375,328 • ($ 4,589,093 ) ($ 3,638,689 ) ($ 4,893,099 ) • “Non-Equity (2,464,938 ) (8) • 4,607,972 8,312,535 (8) 5,518,724 • — — 2,599,989 • Year-End Year-End (1,816,266 ) 1,736,646 5,799,780 • Year-End (1,500,521 ) (383,570 ) (692,179 ) • 143,979 124,945 88,017 COMPENSATION ACTUALLY PAID - CEO $ 6,517,122 $ 17,262,152 $ 20,796,560 ADJUSTMENTS FROM SUMMARY COMPENSATION ($ 3,153,929 ) $ 3,686,928 $ 8,421,232 (3) The amounts reported represent the average of the amounts reported for the Company’s named executive officers as a group (excluding our CEO), in the “Total” column of the Summary Compensation Table in each applicable year. The Executive Officers used to calculate the Other NEOs average in each year include Messrs. Chang, Fartaj, Grogin and Jones for 2020; Messrs. Chang, Fartaj, Jones and Perotti for 2021; and Messrs. Fartaj, Follette, Jones and Perotti for 2022. (4) The amounts reported represent the average Compensation Actually Paid to the other named executive officers other than our CEO as a group, computed in accordance with Item 402(v) of Regulation S-K. Adjustments to Determine Average Compensation “Actually Paid” for the Other Named Executive Officers (7) 2022 2021 2020 SUMMARY COMPENSATION – Other NEOs $ 3,445,387 $ 5,473,525 $ 4,887,892 • ($ 1,395,828 ) ($ 1,373,872 ) ($ 1,685,290 ) • “Non-Equity (986,750 ) (8) • 1,401,571 3,194,643 (8) 2,220,848 • — — 762,492 • Year-End Year-End (680,439 ) 731,980 2,362,198 • Year-End (579,393 ) (158,787 ) (281,411 ) • 51,811 50,752 35,738 COMPENSATION ACTUALLY PAID – Other NEOs $ 2,243,109 $ 6,931,492 $ 8,302,467 ADJUSTMENTS FROM SUMMARY COMPENSATION ($ 1,202,278 ) $ 1,457,967 $ 3,414,576 (5) Based on initial investment of $100 and a cumulative Total Shareholder Return (PFSI Fiscal Year 2020 = 95.3%, Fiscal Year 2021 = 7.7%, Fiscal Year 2022 = -17.6%) -4.8%, -19.0%). (6) Our Company Selected Measure is Return on Equity, which is calculated as Net Income attributable to common shareholders for a fiscal year divided by average monthly common shareholders’ equity. (7) The fair values in the tables above have been computed in accordance with the methodology used for financial reporting purposes and, as applicable for awards subject to performance-based vesting conditions, based on the probable outcome of such performance-based vesting conditions as of the last day of the fiscal year. (8) The Fiscal 2021 performance-based incentive payout included a cash and an equity component reflected in the Fiscal Year 2021 “Non-Equity | ||
| Company Selected Measure Name | Return on Equity | ||
| Named Executive Officers, Footnote [Text Block] | The amounts reported represent the average of the amounts reported for the Company’s named executive officers as a group (excluding our CEO), in the “Total” column of the Summary Compensation Table in each applicable year. The Executive Officers used to calculate the Other NEOs average in each year include Messrs. Chang, Fartaj, Grogin and Jones for 2020; Messrs. Chang, Fartaj, Jones and Perotti for 2021; and Messrs. Fartaj, Follette, Jones and Perotti for 2022. | ||
| Peer Group Issuers, Footnote [Text Block] | Based on initial investment of $100 and a cumulative Total Shareholder Return (PFSI Fiscal Year 2020 = 95.3%, Fiscal Year 2021 = 7.7%, Fiscal Year 2022 = -17.6%) -4.8%, -19.0%). | ||
| PEO Total Compensation Amount | $ 9,671,051 | $ 13,575,224 | $ 12,375,328 |
| PEO Actually Paid Compensation Amount | $ 6,517,122 | 17,262,152 | 20,796,560 |
| Adjustment To PEO Compensation, Footnote [Text Block] | (2) The amount reported represent the Compensation Actually Paid to our CEO, computed in accordance with Item 402(v) of Regulation S-K, Adjustments to Determine Compensation “Actually Paid” for the CEO (7) 2022 2021 2020 SUMMARY COMPENSATION – CEO $ 9,671,051 $ 13,575,224 $ 12,375,328 • ($ 4,589,093 ) ($ 3,638,689 ) ($ 4,893,099 ) • “Non-Equity (2,464,938 ) (8) • 4,607,972 8,312,535 (8) 5,518,724 • — — 2,599,989 • Year-End Year-End (1,816,266 ) 1,736,646 5,799,780 • Year-End (1,500,521 ) (383,570 ) (692,179 ) • 143,979 124,945 88,017 COMPENSATION ACTUALLY PAID - CEO $ 6,517,122 $ 17,262,152 $ 20,796,560 ADJUSTMENTS FROM SUMMARY COMPENSATION ($ 3,153,929 ) $ 3,686,928 $ 8,421,232 | ||
| Non-PEO NEO Average Total Compensation Amount | $ 3,445,387 | 5,473,525 | 4,887,892 |
| Non-PEO NEO Average Compensation Actually Paid Amount | $ 2,243,109 | 6,931,492 | 8,302,467 |
| Adjustment to Non-PEO NEO Compensation Footnote [Text Block] | (4) The amounts reported represent the average Compensation Actually Paid to the other named executive officers other than our CEO as a group, computed in accordance with Item 402(v) of Regulation S-K. Adjustments to Determine Average Compensation “Actually Paid” for the Other Named Executive Officers (7) 2022 2021 2020 SUMMARY COMPENSATION – Other NEOs $ 3,445,387 $ 5,473,525 $ 4,887,892 • ($ 1,395,828 ) ($ 1,373,872 ) ($ 1,685,290 ) • “Non-Equity (986,750 ) (8) • 1,401,571 3,194,643 (8) 2,220,848 • — — 762,492 • Year-End Year-End (680,439 ) 731,980 2,362,198 • Year-End (579,393 ) (158,787 ) (281,411 ) • 51,811 50,752 35,738 COMPENSATION ACTUALLY PAID – Other NEOs $ 2,243,109 $ 6,931,492 $ 8,302,467 ADJUSTMENTS FROM SUMMARY COMPENSATION ($ 1,202,278 ) $ 1,457,967 $ 3,414,576 | ||
| Compensation Actually Paid vs. Total Shareholder Return [Text Block] | • The Company’s cumulative Total Stockholder Return (“TSR”) and the Peer Group’s cumulative TSR | ||
| Compensation Actually Paid vs. Net Income [Text Block] | • The Company’s Net Income | ||
| Compensation Actually Paid vs. Company Selected Measure [Text Block] | • The Company Selected Measure, which for PFSI is Return | ||
| Total Shareholder Return Vs Peer Group [Text Block] | • The Company’s cumulative Total Stockholder Return (“TSR”) and the Peer Group’s cumulative TSR | ||
| Tabular List [Table Text Block] | Most Important Financial Performance Measures: The Compensation Committee reviews a variety of Company and individual factors used to determine executive compensation with performance, not all of which are presented in the Pay Versus Performance table above. In addition, the Compensation Committee seeks to incentive long term pay for performance and therefore does not specifically align the Company’s performance with Compensation Actually Paid. In our assessment, the most important financial performance measures used to determine Compensation Actually Paid to our CEO and other NEOs in 2022 to Company performance were: Return on Equity Net Income Leverage Ratio Strategic Factors | ||
| Total Shareholder Return Amount | $ 173.29 | 210.33 | 195.34 |
| Peer Group Total Shareholder Return Amount | 98.6 | 121.7 | 95.21 |
| Net Income (Loss) | $ 476,000,000 | $ 1,000,000,000 | $ 1,600,000,000 |
| Company Selected Measure Amount | 0.14 | 0.29 | 0.61 |
| PEO Name | Mr. Spector | ||
| Measure [Axis]: 1 | |||
| Pay vs Performance Disclosure [Table] | |||
| Measure Name | Return on Equity | ||
| Measure [Axis]: 2 | |||
| Pay vs Performance Disclosure [Table] | |||
| Measure Name | Net Income | ||
| Measure [Axis]: 3 | |||
| Pay vs Performance Disclosure [Table] | |||
| Measure Name | Leverage Ratio | ||
| Measure [Axis]: 4 | |||
| Pay vs Performance Disclosure [Table] | |||
| Measure Name | Strategic Factors | ||
| PEO [Member] | |||
| Pay vs Performance Disclosure [Table] | |||
| Adjustment to Compensation Amount | $ (3,153,929) | $ 3,686,928 | $ 8,421,232 |
| PEO [Member] | Stock Awards and Option Awards [Member] | |||
| Pay vs Performance Disclosure [Table] | |||
| Adjustment to Compensation Amount | (4,589,093) | (3,638,689) | (4,893,099) |
| PEO [Member] | Non Equity Incentive Compensation [Member] | |||
| Pay vs Performance Disclosure [Table] | |||
| Adjustment to Compensation Amount | (2,464,938) | ||
| PEO [Member] | Fair Value of Equity Awards Granted that Remain Unvested [Member] | |||
| Pay vs Performance Disclosure [Table] | |||
| Adjustment to Compensation Amount | 4,607,972 | 8,312,535 | 5,518,724 |
| PEO [Member] | Fair Value of Equity Awards Granted that Vested [Member] | |||
| Pay vs Performance Disclosure [Table] | |||
| Adjustment to Compensation Amount | 2,599,989 | ||
| PEO [Member] | Change in Fair Value of Prior Year End Equity Awards that were Unvested [Member] | |||
| Pay vs Performance Disclosure [Table] | |||
| Adjustment to Compensation Amount | (1,816,266) | 1,736,646 | 5,799,780 |
| PEO [Member] | Change in Fair Value of Prior Year End Equity Awards that Vested [Member] | |||
| Pay vs Performance Disclosure [Table] | |||
| Adjustment to Compensation Amount | (1,500,521) | (383,570) | (692,179) |
| PEO [Member] | Dividends Paid During Year Before Vesting Date of Equity Awards [Member] | |||
| Pay vs Performance Disclosure [Table] | |||
| Adjustment to Compensation Amount | 143,979 | 124,945 | 88,017 |
| Non-PEO NEO [Member] | |||
| Pay vs Performance Disclosure [Table] | |||
| Adjustment to Compensation Amount | (1,202,278) | 1,457,967 | 3,414,576 |
| Non-PEO NEO [Member] | Stock Awards and Option Awards [Member] | |||
| Pay vs Performance Disclosure [Table] | |||
| Adjustment to Compensation Amount | (1,395,828) | (1,373,872) | (1,685,290) |
| Non-PEO NEO [Member] | Non Equity Incentive Compensation [Member] | |||
| Pay vs Performance Disclosure [Table] | |||
| Adjustment to Compensation Amount | (986,750) | ||
| Non-PEO NEO [Member] | Fair Value of Equity Awards Granted that Remain Unvested [Member] | |||
| Pay vs Performance Disclosure [Table] | |||
| Adjustment to Compensation Amount | 1,401,571 | 3,194,643 | 2,220,848 |
| Non-PEO NEO [Member] | Fair Value of Equity Awards Granted that Vested [Member] | |||
| Pay vs Performance Disclosure [Table] | |||
| Adjustment to Compensation Amount | 762,492 | ||
| Non-PEO NEO [Member] | Change in Fair Value of Prior Year End Equity Awards that were Unvested [Member] | |||
| Pay vs Performance Disclosure [Table] | |||
| Adjustment to Compensation Amount | (680,439) | 731,980 | 2,362,198 |
| Non-PEO NEO [Member] | Change in Fair Value of Prior Year End Equity Awards that Vested [Member] | |||
| Pay vs Performance Disclosure [Table] | |||
| Adjustment to Compensation Amount | (579,393) | (158,787) | (281,411) |
| Non-PEO NEO [Member] | Dividends Paid During Year Before Vesting Date of Equity Awards [Member] | |||
| Pay vs Performance Disclosure [Table] | |||
| Adjustment to Compensation Amount | $ 51,811 | $ 50,752 | $ 35,738 |
