12/11/2019
As a reminder, per announcement 19-40 dated July 11, 2019, PennyMac requires that customers identify all loans with an appraisal waiver on bulk bid tapes starting July 25, 2019. Bid tapes that do not properly identify loans with appraisal waivers are subject to a price adjustment post loan delivery, if applicable.
Effective with bid tapes on or after Wednesday December 18, 2019, loans with an appraisal waiver not properly identified as such on the bid tape may be subject to a 20 basis points post loan delivery charge.
Please contact your Sales Representative with any questions.