Delegated Announcements - Page 8

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03.21.24

24-28: Fannie Mae Nontraditional Credit References Update

Pennymac is aligning with Fannie Mae SEL 2024-01 updating their nontraditional credit requirements for loans underwritten using Desktop Underwriter...

03.21.24

24-27: Fannie Mae: Use of Business Income:

Pennymac is aligning with Fannie Mae’s clarification of several income calculation and documentation requirements for borrowers using business inco...

03.21.24

24-26: Best Effort Rate Sheet Restructure

Effective Wednesday, March 27, 2024, Pennymac will be updating the Best Effort rate sheet to include new state-specific Conventional base pricing g...

03.20.24

24-25: Fannie Mae Manufactured Housing Cash-Out Refinance...

Pennymac is aligning with the updates to the maximum loan term on a cash-out refinance for manufactured housing as announced in Fannie Mae SEL-2024...

03.18.24

24-24: Virtual Currency Update

Effective immediately, Pennymac is pleased to announce that cryptocurrency/virtual currency may now be used as funds for closing and reserves on FH...

03.15.24

24-23: Updates to Conventional LLPAs

Pennymac will update Conventional LLPAs effective for all Best Efforts Commitments taken on or after Monday, March 18, 2024 as follows:

03.12.24

24-22: Cybersecurity Incidents Reminder

Freddie Mac issued an industry letter on January 20, 2024 reminding Sellers and Servicers of their obligations to maintain an effective information...

03.07.24

24-21: Final Multi-Factor Authentication Implementation

As part of our commitment to maintain the highest quality and security of client data, Pennymac has finalized implementation of Multi-Factor Authen...

03.04.24

24-20: FHA Non-Borrowing Spouse Clarification

FHA requires the debt of a non-borrowing spouse (NBS) to be included on the URLA and included in the qualifying debt ratios if:

03.04.24

24-19: Updates to Conventional LLPAs

Pennymac will update Conventional LLPAs effective for all Best Efforts Commitments taken on or after Tuesday, March 05, 2024 as follows:

02.29.24

24-18: Temporary Down Payment Assistance Product Enhancem...

Pennymac is pleased to announce a new down payment assistance (DPA) enhancement to the Fannie Mae HomeReady and Freddie Mac Home Possible products....

02.27.24

24-17: Freddie Mac BorrowSmart® Program Discontinued

Freddie Mac recently confirmed the BorrowSmart program is being discontinued. Please review the following dates and timelines carefully.

02.27.24

24-16: Best Effort Rate Sheet Restructure

Pennymac will be restructuring its Best Effort rate sheet effective Monday, March 11, 2024.

02.23.24

24-15: FHLMC 2023-19 Transition to Uniform Property Datas...

Pennymac is aligning with the updates to the Uniform Property Dataset (UPD) as announced in Freddie Mac Bulletin 2023-19. Freddie Mac is transition...

02.22.24

24-14: Fannie Mae SEL 2023-11 Restricted Stock Income

Pennymac is aligning with Fannie Mae SEL-2023-11 announcing Restricted Stock Units (RSUs) and restricted stock income eligibility, effective with n...