Taxes and Insurance
Earthquake Insurance is mandatory for any property located on or in close proximity to a structural fault, or in a special seismic studies zone. If no mention is made in the appraisal, survey, or t...
Unless prohibited by applicable law, or granted a waiver by Pennymac, the Seller must, pursuant to the guidelines set forth in this Delivery Procedure, establish an escrow/impound account for each ...
Prior to loan purchase, a Flood Zone Determination Certification (FZD or Flood Cert) is required in each loan file. Flood insurance is required for any property located in a Special Flood Hazard Ar...
Private Mortgage Insurance
The Seller is responsible to purchase a commitment/policy from an agency approved private mortgage insurer prior to the mortgage loan closing for all loans requiring private mortgage insurance (PMI).
Real Estate Taxes
With respect to mortgage loans sold to Pennymac, the following tax payment guidelines apply: