Pennymac is aligning with Freddie Mac’s credit underwriting update, announced in Bulletin 2023-6, adding a requirement that a non-occupant borrower may not be an interested party to the transaction (i.e. the builder, property seller, real estate agent or broker, etc.)
This new requirement is effective with loan deliveries on or after 7/3/23.
Please refer to the Freddie Mac Selling Guide Section 5103.1 for all non-occupant borrower requirements.
Please contact your Sales Representative with any questions.