03/31/2025
In Announcement 25-33, Pennymac announced several key changes to our AUS Jumbo program which included updates to our appraisal requirements. We have identified a clarification that is needed.
The announcement stated that two full appraisals were required for loan amounts greater than $2,000,000 prior to March 24, 2025.
Clarification: The requirement for two full appraisals for loan amounts exceeding $3,000,000 on purchase transactions is a new requirement supporting our new loan limit of $3,500,000. There was no prior requirement for two appraisals on loan amounts exceeding $2,000,000 for purchase transactions.
Please refer to the AUS Jumbo product profile for complete requirements.
Please contact your Sales Representative with any questions.