20-30: Non-Delegated Conventional Cash-Out Suspended
Effective with commitments on or after May 4, 2020, PennyMac is temporarily suspending new commitments for purchase of all Non-Delegated conventional cash-out transactions due to salability concerns related to COVID-19. Delegated cash-out transactions will continue to be eligible for purchase under current guidelines.
PennyMac will honor existing Commitments.
Non-Delegated Government Cash-Out transactions will remain eligible for review and purchase until further notice. An additional announcement will be released in the future once this suspension has been lifted.
Please contact your Sales Representative with any questions.