Announcements - Page 12

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07.22.16

16-27: Removal of Mandatory Forward Delivery Method

PennyMac is removing the Mandatory Forward delivery method from its offering of commitment types.  Best Effort, AOT/DT and Bulk will NOT be affect...

07.14.16

16-26: Trailing Document Invoice Policy Reminder

This announcement is intended to serve as a reminder of PennyMac’s trailing document policy as well as to share best practices for managing traili...

07.08.16

16-25: FNMA SEL 2016-04 and 2016-05: Various Updates

PennyMac is aligning with the updates announced by Fannie Mae in SEL 2016-04 and 2016-05, including but not limited to the following:

06.30.16

16-24: Employment Beginning After Close Allowed on Confor...

Effective immediately, PennyMac is pleased to announce that borrowers may begin employment after close on conforming DU transactions, in accordanc...

06.30.16

16-23: Hours of Operation for the 4th of July Holiday

Please note the hours of operation for Best Effort, Mandatory, Bulk, AOT and DT Commitment Options:

06.15.16

16-22: Disaster Policy Implementation: Texas Severe Stor...

In accordance with PennyMac’s existing Disaster Policy, PennyMac will be requiring post-disaster inspections for the following counties:

06.09.16

16-21: Disaster Policy Implementation: Texas Severe Stor...

Effective immediately, PennyMac is requiring post disaster inspections for the following counties for properties located in flood zones:

05.25.16

16-20: Hours of Operation for Friday, May 27th 2016 and ...

Please note the hours of operation for Best Effort, Mandatory, Bulk, AOT and DT Commitment Options:

05.24.16

16-19: Release of the USDA Rural Housing Streamlined-Ass...

Effective with loan commitments issued on or after June 2, 2016, PennyMac is aligning with USDA Rural Housing’s release of the Streamlined-Assist ...

05.20.16

16-18: Non-Delegated Delivery Program

PennyMac is pleased to announce non-delegated Eligibility Review will be available for conventional loans with Best Efforts locks, effective Monda...

05.16.16

16-17: TRID Announcements

Reminder that VA published circular 26-16-11 in April of this year and reminder that PennyMac requires the Seller Closing Disclosure to be provide...

04.27.16

16-16: Fannie Mae DU 10.0 Release Notes and SEL 2016-03

PennyMac is announcing updates from Fannie Mae’s DU 10.0 Release Notes and SEL 2016-3.  

04.22.16

16-15: VA Circular 26-16-10 Unreimbursed Employee Busine...

Effective immediately, for all VA transactions, PennyMac will be aligning with VA’s policy clarification regarding unreimbursed business expenses ...

04.22.16

16-14: FHA ML 2016-08 Student Loans

Effective immediately for FHA transactions, PennyMac is aligning with FHA’s update regarding the calculation of student loan payments.

04.22.16

16-13: Disaster Policy Implementation due to Flooding in...

Due to the recent flooding in Texas, the Governor of Texas has declared a State of Emergency in nine counties.  At this time, PennyMac is requirin...