Non-Delegated Announcements - Page 6

Delegated Non-Delegated

04.26.24

24-39: Form 4506-C Completion Requirements

In conjunction with enhanced enforcement from the GSEs, Pennymac will begin the review and remediation of inaccurate or improperly executed 4506-Cs...

04.26.24

24-38: Updates to Conventional LLPAs

Pennymac will update Jumbo LLPAs effective for all Best Efforts Commitments taken on or after Monday, April 29, 2024 .

04.19.24

24-37: Updates to Conventional LLPAs

Pennymac will update Conventional LLPAs effective for all Best Efforts Commitments taken on or after Monday, April 22, 2024 as follows:

04.18.24

24-36: Freddie Mac 2024-1 - Trust Income Update

In Bulletin 2024-1, Freddie Mac announced changes to trust income requirements pertaining to history of receipt for trust income with pre-determine...

04.16.24

24-35: VA – Departing Residence Update

Pennymac is reminding clients of VA’s requirement regarding the use of rental income on a departing residence, and clarifying the following:

04.05.24

24-34: Best Effort Rate Sheet Restructure

Effective Friday, April 19, 2024, Pennymac will be updating the Best Effort rate sheet to include new FHA base pricing grids. These new grids will ...

04.04.24

24-33: Updates to Conventional LLPAs

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

04.02.24

24-32: VA WebLGY IRRRL Modification Update

On 2/20/2024, VA Loan Guaranty Service released an enhancement to WebLGY, providing lenders with additional information about the existing VA guara...

03.27.24

24-31: Updates to Government LLPAs

Pennymac will update Government LLPAs effective for all Best Efforts Commitments taken on or after Friday, March 29, 2024 as follows:

03.25.24

24-30: Updates to Pennymac Rate Sheet

Pennymac will update the Best Efforts rate sheet effective for all Commitments as follows:

03.21.24

24-29: 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

24-28: 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

24-27: 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

24-26: 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

24-25: 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...