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All Sellers must be MERS members, able to register and transfer loans through MERS. All loans must be registered with MERS at time of delivery to Pennymac and a MERS transfer of beneficial rights a...
When delivering any mortgage loan which has been pledged as collateral for a line of credit, the lender must meet the following requirements:
Loans containing a DU decision may not be eligible for purchase if the defect materially changes the loan parameters.
Pennymac can accept loan files delivered by image.
Pennymac can accept loan files delivered as an image via Pennymac’s Seller website.
Pennymac Non-Delegated Fee Schedule
FHA, VA and USDA Mortgage Loans purchased by Pennymac require that the electronic loan data received and relied on from the Seller is consistent with the corresponding active records in the applica...
Pennymac will, in most cases, wire funds for purchase of a mortgage loan the business day following the date on which Pennymac approves the loan for purchase, provided that re-pricing of the mortga...
The Seller must inform the applicable borrowers and vendors of the sale of the mortgage loan. The notification must be sent after the loan has been funded by Pennymac.
Mortgage loans purchased by Pennymac require delivery of all trailing documents as they become available but not to exceed 270 days from the purchase date.
