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06.05.20
Effective immediately, PennyMac is aligning with the guidance given in Fannie Mae’s Updated Lender Letter 2020-03 dated May 19, 2020 and Freddie Ma...
06.02.20
Effective immediately, for all conventional Fannie Mae and Freddie Mac loans, PennyMac is updating the requirement for a verbal verification of emp...
05.27.20
In announcement #20-23 PennyMac announced that we will not purchase any delegated or nondelegated conventional loan where the appraisal has a Colla...
05.13.20
PennyMac will make updates to the Government LLPAs effective for all Best Effort commitments taken on or after Friday, May 15, 2020, as follows:
Please note the hours of operation for Best Effort and Bulk Commitment Options:
05.08.20
Effective with loans purchased on or after May 8, 2020, PennyMac is removing the repurchase requirement for Conventional Cash-Out refinances that e...
05.07.20
PennyMac is amending announcement #20-26 titled Loans in Early Forbearance. Effective immediately, a conventional purchase or rate and term loan th...
05.05.20
Effective with commitments on or after May 4, 2020, PennyMac is temporarily suspending new commitments for purchase of all Non-Delegated convention...
05.03.20
04.29.20
Effective with locks on or after April 29, 2020, PennyMac is temporarily pausing the Enterprise Paid Mortgage Insurance (EPMI) program. All other m...
04.28.20
Due to changes in the market, PennyMac will make adjustments to the updated values in the Conventional ‘FICO/LTV LLPAs Cashout Refinance’ grid effe...
04.27.20
Effective Wednesday, April 29th, 2020, PennyMac will be updating values to the Conventional FICO/LTV LLPAs Cashout Refinance grid. Effective Monday...
04.23.20
Effective with loans purchased on or after April 23, 2020, PennyMac is announcing the following updates regarding loans that enter forbearance afte...
04.21.20
PennyMac will make updates to the Government LLPAs effective for all Best Effort commitments taken on or after Monday, April 27, 2020, as follows:
04.17.20
As the COVID-19 pandemic progresses, many states are enacting stay at home or shelter in place requirements, which can impact mortgage lending. Pen...
