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07.16.19
The effective date of requirement for the addition of the ‘AUS Type’ and ‘Appraisal Waiver Indicator’ fields will be Thursday, July 25, 2019, inste...
07.11.19
06.26.19
Pursuant to Announcement 19-35, PennyMac will be removing the HARP programs, including DU Refi Plus and LPA Open Access, from the Best Effort and A...
Please note the hours of operation for Best Effort, Bulk, AOT and DT Commitment Options:
06.24.19
Previously, PennyMac required all IRRRLs to meet the 36 month fee recoupment, except in transactions where the payment increased due to a term redu...
06.20.19
Effective with case numbers assigned on or after June 17, 2019, PennyMac is aligning with FHA’s updates to Building On Own Land (BOOL).
PennyMac is aligning with Freddie Mac’s updates announced in Bulletin 2019-9, 2019-11 and Fannie Mae’s DU Release Notes 10.3 July Update, excluding...
06.18.19
FEMA has recently declared several states in the Midwest as eligible for Individual Assistance, and several governors have issued states of emergen...
06.07.19
Effective with new loans submitted to DU on or after July 20, 2019, PennyMac is aligning with the updates announced by Fannie Mae in Lender Letter ...
Effective for Non-Delegated commitments taken on or after Monday, June 10, 2019, the Underwriting Fees will be as follows:
05.24.19
In PennyMac’s continuing effort to align program requirements and market risk, the following overlays are being updated effective immediately.
05.14.19
PennyMac is pleased to announce the release of the Fannie Mae Single Close Construction loan program. Program requirements include:
05.08.19
VA has recently released updates to several chapters of the VA Lender’s Handbook. Effective dates for each chapter can be found in VA Transmittal s...
04.23.19
Effective Tuesday, May 7, 2019, PennyMac will be updating the Best Effort rate sheet to include new base pricing grids for VA Renovation loans. Thi...
