Updated on 5/10/2024: NCS added as an IVES participant.
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
NCS TRV Processing
5a.I: NCS TRV Processing
5a.II: Leave Blank
5a.III: Leave Blank
5a.IV: P.O. Box 1089
5a.V: Hammonton
5a.VI: NJ
5A.VII: 08037
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
