Effective immediately, PennyMac is aligning with Fannie Mae Lender Letter 2021-03 (8.11.2021) and Freddie Mac Bulletin 2021-28. The updates include but are not limited to the expiration of the following temporary credit underwriting COVID-19 requirements and reinstatement of the standard guide requirements:
Note: any remaining temporary credit underwriting COVID-19 requirements e.g. self-employed P&L dated within 60 days, are still in effect until further notice, without a defined expiration date.
Please contact your Sales Representative with any questions.