Announcements - Page 12
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17-18: FNMA SEL 2017-04 Student Loan Updates
Effective immediately PennyMac is pleased to announce alignment with the following topics from Fannie Mae’s recent announcement SEL 2017-04.
17-17: Rural Housing Procedural Notices 494 and 495: Net ...
Effective immediately, PennyMac is aligning with Rural Housing’s update to NTB definition and policy regarding hazard insurance deductibles.
17-16: FHLMC Bulletin 2017-2 and Bulletin 2017-3: Various...
PennyMac is aligning with the updates announced in Freddie Mac Bulletin 2017-2 and 2017-3.
17-15: Hours of Operation for Memorial Day Holiday 2017
Please note the hours of operation for Best Effort, Bulk, AOT and DT Commitment Options for the Memorial Day Holiday 2017.
17-14: Updates to Tax Transcript Requirements and Underwr...
Changes are being made to the requirements surrounding Work Number in lieu of Tax Transcripts and 2016 Tax Transcripts timing. Also, a reminder ab...
17-13: Transactions Involving Intra-Family Purchases
PennyMac has seen a recent trend involving intra-family purchases as a means to obtain cash-out for the seller while avoiding cash-out qualificati...
17-12: Update to Conventional LLPA
Effective for all commitments taken on or after Thursday, April 6th, 2017, PennyMac is implementing updates to the Conventional LLPA for Best Effo...
17-11: Changes to Best Effort Price Caps
PennyMac is pleased to announce the removal of price caps on Conventional and Government Best Effort loans, for new commitments taken on or after ...
17-10: Update to SRP Grids
PennyMac will revise SRP grids effective for all commitments taken on or after Monday, April 3, 2017. PennyMac is aligning the SRP grid header to ...
17-09: Freddie Mac Income and Asset Changes in Bulletin 2...
Effective immediately for Freddie Mac loans, PennyMac will align with Freddie Mac’s updates to income and assets as announced in Freddie Mac Bulle...
17-08: Overlay Update VA Joint Loans and FHA Texas (a)(6)
In PennyMac’s continuing effort to ensure guidelines support current lending conditions, the following overlay updates are effective with commitme...
17-07: Good Friday Holiday Hours
Please note the hours of operation for Best Effort, Bulk, AOT and DT Commitment Options:
17-06: Update to FHA DTI Overlay
In PennyMac’s continuing effort to ensure guidelines support current lending conditions, effective Tuesday, February 28, 2017, PennyMac is updatin...
17-05: Updates to PennyMac’s VA Full Doc and IRRRL Programs
In PennyMac’s continuing effort to ensure guidelines support current lending conditions, effective immediately, PennyMac is updating overlays for ...
17-04: VA Circular 26-17-2: Student Loan Payment Calculation
Effective immediately, PennyMac is aligning with VA’s student loan payment calculation requirement, and Lenders may begin using VA’s updated guide...