18-29: Various Topics: HomeOne, FHA Gift Donor Statements, and Underwriting Help



Freddie Mac recently announced the HomeOne program with LTVs up to 97%. PennyMac will not immediately participate in the HomeOne Option and will continue to limit the LTV/TLTV/HLTV to 95%. PennyMac is actively working toward offering this option and will release an announcement at a future date.

FHA Gift Donor Statement

As a reminder, FHA guidelines require verification that the gift came from an acceptable source. Lenders must verify that the gift funds were available to the donor via a bank statement from the donor, regardless if the funds were transferred to the borrower’s account or directly to escrow. Large deposits on the donor’s statement do not need to be addressed.

Underwriting Help Non-Public Personal Information

As a reminder, Underwriting Help cannot respond to emails containing any non-public personal information (NPPI) or loan documentation. This includes excerpts of documents pasted into the body of the email or attachments to the email. Emails containing NPPI will receive a response that the original email contains NPPI and the email will be deleted.

Please contact your Sales Representative with any questions.