Announcements

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11.24.20

20-78: Fannie Mae and Freddie Mac Conforming Loan Limit I...

The Housing and Economic Recovery Act of 2008 (HERA) established the baseline loan limit of $417,000 and requires this limit to be adjusted each ye...

11.24.20

20-77: Updates to Conventional LLPAs

PennyMac will make updates to the Conventional LLPAs effective for all Best Effort commitments taken on or after Friday, November 27, 2020, as follows

11.23.20

20-76: Freddie Mac Bulletins 2020-43 and 44, Fannie Mae L...

PennyMac is aligning with Fannie Mae and Freddie Mac’s extension of COVID-19 related flexibilities for conventional transactions including buying l...

11.19.20

20-75: Reminder of MERS Requirements Clarification

This announcement is to clarify announcement 20-65 which was missing one of the MERS ID numbers.

11.17.20

20-74: Hours of Operation for Thanksgiving Holiday 2020

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

11.09.20

20-73: Government Loan Seasoning and Disasters

Correspondents are reminded that Ginnie Mae seasoning requirements must be met on all government insured/guaranteed loans.

11.05.20

20-72: P3 System Maintenance

P3 system maintenance is scheduled to take place this weekend. The maintenance dates are as follows:

11.03.20

20-71: Hours of Operation for Veterans Day Holiday 2020

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

10.30.20

20-70: Updates to Government LLPAs

PennyMac will make updates to the Government LLPAs effective for all Best Effort commitments taken on or after Tuesday, November 3rd, 2020, as follows

10.28.20

20-69: Adverse Market Refinance Fee Update

The Federal Housing Finance Agency (FHFA) announced a delay to the implementation date of the Adverse Market Refinance Fee until December 1, 2020.

10.23.20

20-68: Update to Conventional LLPAs

PennyMac will make the following update to the Conventional LLPAs effective for all Best Effort commitments taken on or after Wednesday, October 28...

10.21.20

20-67: Fannie Mae HomeStyle Renovation Program Availability

Effective immediately, the Fannie Mae HomeStyle Renovation program has been reinstated. As a reminder, lenders must be approved to participate in t...

10.21.20

20-66: Introducing the Home Value Estimator Tool

PennyMac is pleased to introduce the Home Value Estimator tool, making it easier to obtain a current market value, as demonstrated by an Automated ...

10.19.20

20-65: Reminder of MERs Requirements

Due to an increased number of loans with aged MERs transfer requests, we would like to remind Correspondent Sellers of our requirements as outlined...

10.09.20

20-64: Updates to Conventional and Government LLPAs

PennyMac will make updates to the Conventional and Government LLPAs effective for all Best Effort commitments taken on or after Wednesday, October ...