Announcements - Page 13

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02.12.18

18-11: FNMA 2018-01: Various Topics

For all DU approved conventional loans, PennyMac is aligning with the updates announced in Fannie Mae SEL 2018-01. All updates are effective imme...

01.31.18

18-10: Clarification of GNMA APM 17-06

Clarification of the Ginnie Mae seasoning requirements previously communicated in announcement 18-03.

01.29.18

18-09: Reminder Regarding 2017 Tax Transcript

Effective with all loans closed on or after June 15, 2018, 2017 tax transcripts will be required per PennyMac’s Tax Transcript Policy...

01.22.18

18-08: Disaster Policy Implementation- Southern Californi...

FEMA has recently declared 4 counties in Southern California as eligible for disaster related Individual Assistance. PennyMac will require post-d...

01.22.18

18-07: Updates to SRP Grids and LLPAs

Effective for all Best Effort and AOT-DT commitments taken on or after January 29, 2018, PennyMac is releasing new SRP grid values and updates to...

01.18.18

18-06: FHLMC 2017-28: Updates Employment After the Note D...

Effective immediately, PennyMac is updating its requirements for Employment Commencing After the Note Date to more closely align with Freddie Mac’...

01.18.18

18-05: FNMA SEL 2017-10: Title in an LLC and Premium Pricing

For all DU approved conventional loans, PennyMac is aligning with the updates announced in Fannie Mae SEL 2017-10, including but not limited to th...

01.16.18

18-04: Extension of Freddie Mac Income Update Effective D...

Freddie Mac recently extended the required effective dates of their rental income changes to November 2018.

01.10.18

18-03: GNMA APM 17-06 Updates to Seasoning Requirements f...

Effective with loans delivered on or after March 2, 2018, PennyMac is aligning with Ginnie Mae’s seasoning requirements for all streamline and cas...

01.10.18

18-01: Temporary Update to Rural Housing Transcript Requi...

Effective immediately, PennyMac is temporarily suspending transcripts for all household members to validate annual household income.

01.03.18

18-02: Hours of Operation for MLK Jr. Day and Presidents ...

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

12.26.17

17-65: Update to the BE Rate Sheet Interest Rate Structur...

Effective Tuesday, January 2, 2018, the 4.060% interest rate will no longer appear on the PennyMac Rate Sheet for Conventional 25/30 Yr Fixed Prod...

12.21.17

17-64: FHA ML 2017-18 Updates to PACE Lien Requirements

For all FHA loans with case numbers assigned on or after January 7, 2018, PennyMac is aligning with FHA’s guidelines and will no longer allow PACE...

12.20.17

17-63: Disaster Policy Reminder for Southern California W...

Recently, the Governor of California has declared a State of Emergency in Ventura and Santa Barbara Counties due to wildfires. As a reminder, it i...

12.18.17

17-62: FHA and VA 2018 Loan Limit Increases

Effective on or after January 1, 2018, PennyMac is aligning with FHA’s increase to the floor and ceiling loan amounts and the VA’s increase to the...