21-30: Freddie Mac Bulletin 2021-9


PennyMac is aligning with Freddie Mac’s updates announced in Bulletin 2021-9, with the exception of the POA updates due to existing overlays. Updates include but are not limited to the following:

Evaluation of 30-day (formerly referred to as “open-end”) accounts

Currently, Freddie Mac allows for the option of including 5% of the balance as the qualifying monthly payment in the DTI ratio.

Effective with loans closed on or after 6/7/2021, PennyMac is aligning with the updated requirements for the treatment of 30 day accounts.

LPA feedback messages will be updated by 7/6/2021 to reflect these changes. Please refer to Freddie Mac Guide section 5401.2 for complete details on 30 day accounts.

Please contact your Sales Representative with any questions.