Non-Delegated Announcements - Page 8

Delegated Non-Delegated

02.08.24

24-09: Updates to Government LLPAs

Pennymac will update Government LLPAs effective for all Best Efforts Commitments taken on or after Friday, February 09, 2024 as follows:

02.08.24

24-08: New Service: Power of Attorney and Trust Review

Effective immediately Non-Delegated Correspondents may submit executed or non-executed Power of Attorney documents and/or trust documentation for r...

02.01.24

24-07: Freddie Mac 2023-19 Rental Income Requirements Update

Pennymac is aligning with Freddie Mac Bulletin 2023-19, announcing updates to their rental income requirements. The updates are effective with loan...

02.01.24

24-06: AUS Jumbo – Multiple Guideline Updates

Pennymac is updating our AUS Jumbo program. The following guidance is effective immediately:

01.18.24

24-05: AUS Jumbo – Trust Income and Cash-out Refinance

Pennymac is announcing the following updates to the AUS Jumbo product, effective with new loan applications dated on or after 01/18/2024:

01.16.24

24-04: Appraiser Identity Theft

Pennymac was recently alerted to an appraiser fraud scheme where appraisal reports were completed by an unlicensed appraiser unlawfully using the i...

01.08.24

24-03: Hours of Operation for Martin Luther King Jr. Day ...

Please note the hours of operation for the Best Effort Commitment Option:

01.05.24

24-02: Updates to Jumbo LLPAs

Pennymac will update Jumbo LLPAs effective for all Best Efforts Commitments taken on or after Monday, January 8, 2024 as follows

01.04.24

24-01: FHLMC 2023-24 Restricting Non-Occupying Borrowers ...

Effective with loan deliveries on or after 2/15/2024, Pennymac is aligning with Freddie Mac’s updated guidance requiring that all borrowers must oc...

12.28.23

23-78: Fannie Mae SEL-2023-09: Rental Income and Self-Emp...

Effective for loan applications dated on or after January 1, 2024, Pennymac is aligning with the Fannie Mae changes regarding rental incomes used f...

12.28.23

23-77: FHA and VA Increased Loan Limits for 2024

Per FHA Mortgagee Letter 2023-21, effective with case number assigned on or after January 1, 2024, Pennymac is aligning with FHA’s increase to the ...

12.22.23

23-76: FHA Mortgagee Letter (ML) 2023-17 Accessory Dwelli...

Effective immediately, Pennymac is aligning with FHA ML 2023-17 supporting the use of rental income for single-family properties with an Accessory ...

12.15.23

23-75: Hours of Operation for December 2023 Holidays

Please note the hours of operation for the Best Efforts Commitment Option:

12.13.23

23-74: Updates to Conventional LLPAs

Pennymac will update Conventional LLPAs effective for all Best Efforts Commitments taken on or after Thursday, December 14, 2023 as follows

12.04.23

23-73: Reminder: P3 Multi-Factor Authentication Set Up

As part of our commitment to maintain the highest quality and security of our client’s data, Pennymac will begin to use Multi-Factor Authentication...