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04.19.21
Effective for all Best Effort commitments taken on or after April 21, 2021, PennyMac will make the following changes to the BE rate sheet:
04.16.21
PennyMac is aligning with Freddie Mac’s updates announced in Bulletin 2021-9, with the exception of the POA updates due to existing overlays. Updat...
04.14.21
Currently, PennyMac offers the Fannie Mae HomeReady and Freddie Mac Home Possible Programs with a 30 year loan term only.
04.12.21
PennyMac reminds Correspondents that for transactions where the loan was initially submitted to Fannie Mae DU but is underwritten and delivered wit...
04.08.21
Currently, all Non-Delegated conventional loans qualifying with self-employed borrower income have LTV/CLTV limitations that differ from the standa...
04.07.21
PennyMac will make updates to the Conventional LLPAs effective for all Best Effort commitments taken on or after Monday, April 12, 2021, as follows:
03.26.21
VA IRRRL transactions require the current value to be determined by the use of several options including Automated Valuation Models (AVMs).
03.25.21
PennyMac will make updates to the Conventional LLPAs effective for all Best Effort commitments taken on or after Monday, March 29, 2021, as follows:
Please note the hours of operation for Best Effort, Bulk and Bulk-AOT commitment options:
03.24.21
PennyMac is reinstating the requirement for tax transcripts effective with loan applications on or after June 17, 2021. When required, 2020 tax tra...
03.19.21
PennyMac will begin accepting locks over the weekend starting Saturday, March 20, 2021.
03.18.21
PennyMac is aligning with the updated Fannie Mae and Freddie Mac COVID FAQ’s on profit and loss statement requirements when the complete 2020 Feder...
03.12.21
PennyMac will make updates to the Conventional Investment Property and Second Home LLPAs effective for all Best Effort commitments taken on or afte...
03.10.21
03.09.21
Effective with all refinance loan submissions on or after March 09, 2021, all Non-Delegated clients will not be required to first lock a loan prior...
