07/15/2024
Freddie Mac Bulletin 2024-7 announced removal of restrictions for custom MI and LPMI.
- Custom MI option is available for use with super conforming mortgages
- LPMI option is available for use with super conforming mortgages
- Custom MI option is available in conjunction with LPMI
Pennymac is aligning with these changes effective with applications dated on or after June 5, 2024.
Note: Annual or monthly premium LPMI is not permitted for mortgages delivered to Pennymac.
Refer to Freddie Mac Bulletin 2024-7 and sections 4701.1 and 4701.2 in the Freddie Mac Selling Guide for additional information and requirements.
Please contact your Sales Representative with any questions.