11/13/2023
Effective immediately, Pennymac is aligning with the Fannie Mae changes regarding personal gifts and gifts of equity as outlined in SEL-2023-08.
These changes allow an acceptable donor, who is also the seller of the subject property, to be considered an eligible donor provided they aren’t affiliated with any other interested party to the transaction. Fannie Mae also expanded the policy to allow gift funds originating from the estate of an acceptable donor or a trust established by an acceptable donor.
Please contact your Sales Representative with any questions.