In conjunction with enhanced enforcement from the GSEs, Pennymac will begin the review and remediation of inaccurate or improperly executed 4506-Cs at loan delivery. In addition to the requirements and best practices that were provided in Announcement 23-37, Pennymac will now also require that:
- Section 5a (IVES participant name, ID number, SOR mailbox ID, and address) contains an approved Pennymac vendor IVES vendor. The approved vendors are listed below.
- Sections 5b and 5c be left blank to ensure the form can be processed by the selected IVES participant.
Failure to properly complete the 4506-C form with these requirements may result in a purchase delay and/or loans being conditioned for an updated 4506-C form or an appropriate tax transcript.
As a reminder, a signed and executable 4506-C is not a requirement for the following:
- Loan files delivered with the applicable tax transcript(s),
- Fannie Mae mortgages using the DU Validation Service where all of the borrower’s income has been validated, and DU returns Approve/Eligible recommendation on the final submission of the loan casefile and meets the requirements in the Fannie Mae Selling Guide,
- Freddie Mac mortgages using automated income assessment (AIM) with Loan Product Advisor® (LPA) using employed income data or account data that receive a Risk Class of Accept on the final loan submission to LPA and meet the requirements in the Freddie Mac Selling Guide.
The Pennymac Seller’s Guide (General Eligibility/General Closing Specifications Section) will be updated to meet the requirements outlined in this announcement.
Clients may comply with this new guidance immediately, but is it effective with loan deliveries on or after July 1, 2024.
Please contact your Sales Representative with any questions.
IVES Participant Section 5a consists of the following fields:
5a.I: IVES participant name 5a.II: IVES participant ID number 5a.III: IVES participant SOR Mailbox ID 5a.IV: IVES participant Street address 5a.V: IVES participant City 5a.VI: IVES participant State 5A.VII: IVES participant ZIP Code
Avantus
5a.I: Avantus 5a.II: 0000301645 5a.III: NGWLEJUO2Q 5a.IV: 600 Saw Mill Road 5a.V: West Haven 5a.VI: CT 5A.VII: 06516
CoreLogic Credco
5a.I: CoreLogic Credco 5a.II: 302617 5a.III: CLGX4506T 5a.IV: 40 Pacifica #900 5a.V: Irvine 5a.VI: CA 5A.VII: 92618
Credit Plus Inc.
5a.I: Credit Plus Inc. 5a.II: 0000301670 5a.III: UTAH21804 5a.IV: 31550 Winterplace Pkwy 5a.V: Salisbury 5a.VI: MD 5A.VII: 21804
DataVerify
5a.I: DataVerify 5a.II: Leave Blank 5a.III: Leave Blank 5a.IV: 250 E. Broad Ste., Suite 2100 5a.V: Columbus 5a.VI: OH 5A.VII: 43215
Equifax Workforce Solutions, LLC
5a.I: Equifax Workforce Solutions, LLC 5a.II: 300005 5a.III: EQUIFAX01 5a.IV: 11432 Lackland Road 5a.V: Saint Louis 5a.VI: MO 5A.VII: 63146
Informative Research
5a.I: Informative Research 5a.II: 0000301295 5a.III: CORTNEY123 5a.IV: 13030 Euclid St 5a.V: Garden Grove 5a.VI: CA 5A.VII: 92843
TaxReturnVerifications.com
5a.I: TaxReturnVerifications.com 5a.II: 301300 5a.III: ORDER4506 5a.IV: 327 Caldwell Dr #100 5a.V: Goodlettsville 5a.VI: TN 5A.VII: 37072
Veri-Tax LLC
5a.I: Veri-Tax LLC 5a.II: 0000301975 5a.III: OGEN4506 5a.IV: 30 Executive Park, Suite 200 5a.V: Irvine 5a.VI: CA 5A.VII: 92614
Xactus, LLC
5a.I: Xactus, LLC 5a.II: 0000304771 5a.III: Leave Blank 5a.IV: 370 Reed Road Suit 100 5a.V: Broomall 5a.VI: PA 5A.VII: 19008
