Announcements

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12.04.19

19-65: Fannie Mae SEL 2019-08

PennyMac is aligning with Fannie Mae’s updates announced in SEL 2019-08. Updates include but are not limited to the following. Effective dates are ...

11.27.19

19-64: 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, December 4...

11.27.19

19-63: 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...

11.25.19

19-62: Conforming Condo Project Warranty Documentation

Lenders that sell mortgage loans secured by units in a condo project are expected to have staff that are knowledgeable about and qualified to evalu...

11.22.19

19-61: Revised Sample Rate Sheet for Conventional and VA ...

PennyMac will be publishing a revised sample rate sheet in relation to Announcement 19-59: Updates to Conventional LLPAs and VA Full Doc Price Adju...

11.22.19

19-60: Hours of Operation for Thanksgiving Holiday 2019

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

11.21.19

19-59: Updates to Conventional LLPAs and VA Full Doc Pric...

Effective for all Best Effort commitments taken on or after November 27, 2019, PennyMac will make the following changes to the BE rate sheet

11.15.19

19-58: VA Circular 26-19-23: Updates to the Entitlement C...

Effective for loans closed on or after January 1, 2020, PennyMac is aligning with updates in VA Circular 26-19-23, including but not limited to the...

11.15.19

19-57: New Bulk Bid Tape Field – Number of Borrowers

Effective for all Bulk bid tapes submitted on or after Monday, December 15, 2019, PennyMac will be requiring the following field to be populated

10.25.19

19-56: Updates 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 30...

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...