Announcements

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10.01.19

19-55: Funding for USDA Rural Housing 2020 Fiscal Year (FY)

Per the Fiscal Year 2020 Commitment Notice released September 12, 2019, funding for the USDA Rural Housing Loan Program will be temporarily unavail...

09.26.19

19-54: FHA Condo Single-Unit Approval and USDA Updates

FHA has recently updated their condo approval requirements. Updates include condo loan level certifications, HUD Review and Approval Process (HRAP)...

09.26.19

19-53: Hours of Operation for Columbus Day and Veterans D...

Please note the hours of operation for Best Effort, Bulk and Bulk-AOT Commitment Options.

09.20.19

19-52: VA High LTV Refinances and Retiring AOT Pricing

VA High LTV Refinances. As a reminder, VA full doc refinance transactions with LTVs greater than 90% must be delivered to PennyMac by September 30,...

08.30.19

19-51: Disaster Policy Implementation: Hurricane Dorian

The Governor of Florida has declared a state of emergency for the counties located on the east coast of Florida due to the impending landfall of Hu...

08.23.19

19-50: VA Circular 26-19-22 and updates to the VA Handbook

Effective immediately, for all IRRRL transactions PennyMac is aligning with updates to the recoupment calculation announced in VA Circular 26-19-22...

08.20.19

19-49: Update to Ginnie Mae Seasoning Requirements

Ginnie Mae recently released APM 19-05, which updated seasoning requirements following Senate Bill S.1749. As a reminder, effective August 1, 2019,...

08.16.19

19-48: Hours of Operation for Labor Day Holiday

Please note the hours of operation for Best Effort, Bulk, AOT and DT Commitment Options.

08.16.19

19-47: Updates to Conventional Base Pricing Grids

19-47: Updates to Conventional Base Pricing Grids: Effective Wednesday, August 21, 2019, PennyMac will be expanding the Conventional Base pricing g...

08.12.19

19-46: Revision to Announcement 19-45 FHA ML 19-11 and Gi...

19-46: Revision to Announcement 19-45 FHA ML 19-11 and Ginnie Mae APM 19-05: Updates to FHA Cash-out Max LTV and VA Full Doc Refi Max LTV

08.07.19

19-45: FHA ML 19-11 and Ginnie Mae APM 19-05: Updates to ...

FHA ML 19-11 and Ginnie Mae APM 19-05: Updates to FHA Cash-out Max LTV and VA Full Doc Refi Max LTV

08.02.19

19-44: Update to Early Payoff Policy in Seller’s Guide

Effective for commitments taken on or after August 5, 2019, PennyMac will add a third bullet point to the Early Payoff Policy in the Delegated and ...

08.01.19

19-43: Update to VA Seasoning Requirements and COE Requir...

PennyMac is announcing the following updates on VA transactions. All updates are effective immediately.

07.31.19

19-42: ChoiceRenovation, HomePossible Income Limits, and ...

PennyMac is aligning to the updates in Freddie Mac bulletins 2019-14, 2019-15, and 2019-16. Updates include but are not limited to the following. A...

07.16.19

Revision to Announcement 19-40: New Bulk Bid Tape Fields ...

The effective date of requirement for the addition of the ‘AUS Type’ and ‘Appraisal Waiver Indicator’ fields will be Thursday, July 25, 2019, inste...