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, 2019. In addition, these loans must be purchased by October 10, 2019, and all loans must have a first payment due date no later than November 1, 2019.
Effective Tuesday, October 1, 2019, PennyMac will stop accepting new AOT rate lock commitments. Commitments received before this date will be processed as normal. In addition, PennyMac will discontinue AOT-DT rate sheet distribution as of the effective date.
Please contact your Sales Representative with any questions.