08.21.20
20-49: Non-Delegated Self-Employed Limited to 70% LTV/CLTV
Effective for all conventional loans with locks on or after August 25, 2020, PennyMac is limiting borrowers qualifying with self-employed income to...
08.21.20
20-48: Fannie Mae SEL 2020-04, Freddie Mac Bulletin 2020-...
PennyMac is aligning with the updates in Fannie Mae’s SEL 2020-04, Freddie Mac’s Bulletin 2020-31, and FHA’s Mortgagee Letter 2020-24 including but...
08.17.20
20-47: Fannie Mae and Freddie Mac Adverse Market Refinanc...
Fannie Mae and Freddie Mac recently announced an adverse market refinance fee of 50 basis points to be assessed on whole loans purchased by the age...
07.29.20
20-46: Updates to Government LLPAs
PennyMac will make updates to ‘Government FICO Price Adjustments’ LLPAs effective for all Best Effort commitments taken on or after Monday, August ...
07.28.20
20-45: Updates to Conventional Purchase Special LLPA
Effective Thursday, July 30, 2020, PennyMac will make updates to the Conventional Purchase Special LLPA effective for all Best Effort commitments a...
07.16.20
20-44: VA Circular 26-20-25, Extension of COVID-19 Relate...
Purchase and Full Doc Refinance. Effective immediately, PennyMac is aligning with the guidance announced in VA Circular 26-20-25 related to purchas...
06.26.20
20-43: Fannie Mae’s Updated Lender Letters 03/04 dated Ju...
Effective immediately, PennyMac is aligning with the updates announced in Fannie Mae’s Updated Lender Letters 03/04 dated June 11, 2020, SEL 2020-0...
06.24.20
20-42: Hours of Operation for the 4th of July Holiday
Please note the hours of operation for Best Effort and Bulk Commitment Options:
06.12.20
20-41: Fannie Mae’s Updated Lender Letter 2020-03 dated M...
Effective for conventional loans with applications on or after June 11, 2020, PennyMac is aligning with the guidance given in Fannie Mae’s Updated ...
06.12.20
20-40: Introducing PennyMac Performance Portal (P3)
PennyMac has developed an enhanced, more streamlined platform for our clients, creating a better experience throughout. We’ll start migrating you t...
06.11.20
20-39: Updates to Best Effort LLPAs
PennyMac will make updates to both Conventional and Government LLPAs effective for all Best Effort commitments taken on or after Monday, June 15, 2...
06.05.20
20-38: Fannie Mae’s Updated Lender Letter 2020-03 dated M...
Effective immediately, PennyMac is aligning with the guidance given in Fannie Mae’s Updated Lender Letter 2020-03 dated May 19, 2020 and Freddie Ma...
06.02.20
20-37: Update to VVOE Timeline
Effective immediately, for all conventional Fannie Mae and Freddie Mac loans, PennyMac is updating the requirement for a verbal verification of emp...
05.27.20
20-36: PennyMac Announcement #20-23 Rescinded
In announcement #20-23 PennyMac announced that we will not purchase any delegated or nondelegated conventional loan where the appraisal has a Colla...
05.13.20
20-35: Updates to Government LLPAs
PennyMac will make updates to the Government LLPAs effective for all Best Effort commitments taken on or after Friday, May 15, 2020, as follows: