19-25: Clarifications to Ginnie Mae Seasoning Requirements


Ginnie Mae recently provided clarification regarding the applicability of seasoning
requirements for VA loans.

Effective immediately, PennyMac is aligning with Ginnie Mae’s clarification of seasoning requirements. When seasoning is applicable, Ginnie Mae requires the (new) note date of any VA-guaranteed refinance loan to be on or after the later of:

  • the date that is 210 days after the date on which the first monthly payment was made on the mortgage being refinanced and
  • the date on which 6 full monthly payments have been made on the mortgage being refinanced.

Re-finance scenario chart

As a reminder, VA seasoning requirements may also be applicable. In cases where both Ginnie Mae and VA seasoning are required to be applied, the later of the two dates must be met.

Please contact your Sales Representative with any questions.