Announcements - Page 13

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12.06.16

16-46: Hours of Operation for 2016 December Holidays

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

12.02.16

16-45: 2017 Conventional Loan Limit Increase

Effective with commitments issued on or after December 5, 2016, PennyMac is aligning with the conforming loan limit increases for standard and hig...

11.25.16

16-44: FNMA 2016-08 and DU Release Notes DU 10.0 December...

For all conforming DU approved loans, PennyMac will be aligning with the updates announced in Fannie Mae SEL 2016-08

11.21.16

16-43: Hours of Operation for Thanksgiving Holiday 2016

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

11.10.16

16-42: Six Month Payment History for All VA IRRRL Transac...

Ginnie Mae is requiring all streamline refinance transactions to have a minimum of six payments prior to refinancing for TBA deliverable Ginnie Ma...

11.03.16

16-41: SRP Grid LLPAs, and Seller's Guide Revision

PennyMac will release new SRP grids effective for all commitments taken on or after Monday, November 14, 2016.

10.12.16

16-40: Disaster Policy Implementation: Hurricane Matthew

FEMA has recently declared 14 counties in North Carolina as eligible for Individual Assistance due to Hurricane Matthew.  PennyMac will be requiri...

10.06.16

16-39: Routing Post Purchase Insurance Documents

Routing instructions for communications received from insurance carries for loans already sold to PennyMac.

10.06.16

16-38: Address Change – Hazard and Flood Insurance Mortg...

Effective immediately, PennyMac’s mortgagee clause has been changed.

10.04.16

16-37: Hours of Operation for Columbus Day and Veterans ...

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

10.02.16

16-36: New 203(k) Fee Structure and Multiple Updates to ...

Effective for all FHA 203(k) commitments taken on or after Monday, October 10th, 2016, PennyMac is implementing an update to the fee schedule for A...

09.26.16

16-35: Funding for USDA Rural Housing 2017 Fiscal Year

Per the Fiscal Year 2017 Commitment Notice released September 22, 2016, funding for the USDA Rural Housing Loan Program will not be available for ...

09.21.16

16-34: Reminder FNMA SEL 2016-04 Student Loan Payment Ca...

PennyMac continues to see transactions where student loan payments are not calculated correctly.  As a reminder, on conforming DU approved transac...

09.09.16

16-33: Update to GSE ARM Notes and Riders

Effective with ARM Notes issued on or after October 1, 2016, PennyMac is aligning with Fannie Mae and Freddie Mac and will be requiring the use of...

09.02.16

16-32: FHA ML 2016-11 and VA Circular 26-16-18: PACE Ass...

Effective immediately, PennyMac is aligning with FHA and VA’s guidelines regarding properties with outstanding PACE loans.